Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 22, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | WSBC | |
Entity Registrant Name | WESBANCO INC | |
Entity Central Index Key | 203,596 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 54,598,186 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks, including interest bearing amounts of $88,854 and $19,826, respectively | $ 273,680 | $ 117,572 |
Securities: | ||
Equity securities, at fair value | 12,784 | 13,457 |
Available-for-sale debt securities, at fair value | 2,008,232 | 1,261,865 |
Held-to-maturity debt securities (fair values of $1,014,361 and $1,023,784, respectively) | 1,025,538 | 1,009,500 |
Total securities | 3,046,554 | 2,284,822 |
Loans held for sale | 55,913 | 20,320 |
Portfolio loans, net of unearned income | 7,726,423 | 6,341,441 |
Allowance for loan losses | (48,902) | (45,284) |
Net portfolio loans | 7,677,521 | 6,296,157 |
Premises and equipment, net | 159,284 | 130,722 |
Accrued interest receivable | 39,465 | 29,728 |
Goodwill and other intangible assets, net | 928,083 | 589,264 |
Bank-owned life insurance | 223,995 | 192,589 |
Other assets | 194,984 | 155,004 |
Total Assets | 12,599,479 | 9,816,178 |
Deposits: | ||
Non-interest bearing demand | 2,411,862 | 1,846,748 |
Interest bearing demand | 2,187,662 | 1,625,015 |
Money market | 1,178,950 | 1,024,856 |
Savings deposits | 1,649,684 | 1,269,912 |
Certificates of deposit | 1,513,600 | 1,277,057 |
Total deposits | 8,941,758 | 7,043,588 |
Federal Home Loan Bank borrowings | 1,131,253 | 948,203 |
Other short-term borrowings | 294,281 | 184,805 |
Subordinated debt and junior subordinated debt | 189,745 | 164,327 |
Total borrowings | 1,615,279 | 1,297,335 |
Accrued interest payable | 6,623 | 3,178 |
Other liabilities | 108,550 | 76,756 |
Total Liabilities | 10,672,210 | 8,420,857 |
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 in 2018 and 2017, respectively; 54,604,294 and 44,043,244 shares issued, respectively; 54,603,967 and 44,043,244 shares outstanding, respectively | 113,758 | 91,756 |
Capital surplus | 1,165,006 | 684,730 |
Retained earnings | 709,477 | 651,357 |
Treasury stock (327 and 0 shares-at cost, respectively) | (15) | |
Accumulated other comprehensive loss | (59,873) | (31,495) |
Deferred benefits for directors | (1,084) | (1,027) |
Total Shareholders' Equity | 1,927,269 | 1,395,321 |
Total Liabilities and Shareholders' Equity | $ 12,599,479 | $ 9,816,178 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Interest bearing deposits, banks | $ 88,854 | $ 19,826 |
Held-to-maturity securities, fair values | $ 1,014,361 | $ 1,023,784 |
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 | 54,604,294 | 44,043,244 |
Common stock, shares outstanding | 54,603,967 | 44,043,244 |
Treasury stock, shares | 327 | 0 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 86,605 | $ 70,342 | $ 234,276 | $ 202,600 |
Interest and dividends on securities: | ||||
Taxable | 14,964 | 9,711 | 40,702 | 28,682 |
Tax-exempt | 5,326 | 4,862 | 15,216 | 14,617 |
Total interest and dividends on securities | 20,290 | 14,573 | 55,918 | 43,299 |
Other interest income | 1,498 | 574 | 3,402 | 1,674 |
Total interest and dividend income | 108,393 | 85,489 | 293,596 | 247,573 |
INTEREST EXPENSE | ||||
Interest bearing demand deposits | 3,501 | 1,814 | 9,174 | 4,413 |
Money market deposits | 1,360 | 751 | 3,332 | 1,970 |
Savings deposits | 352 | 189 | 768 | 555 |
Certificates of deposit | 3,276 | 2,610 | 8,789 | 7,512 |
Total interest expense on deposits | 8,489 | 5,364 | 22,063 | 14,450 |
Federal Home Loan Bank borrowings | 6,691 | 3,628 | 17,142 | 9,608 |
Other short-term borrowings | 965 | 394 | 2,497 | 954 |
Subordinated debt and junior subordinated debt | 2,315 | 1,849 | 6,425 | 5,449 |
Total interest expense | 18,460 | 11,235 | 48,127 | 30,461 |
NET INTEREST INCOME | 89,933 | 74,254 | 245,469 | 217,112 |
Provision for credit losses | 1,035 | 2,516 | 4,911 | 7,610 |
Net interest income after provision for credit losses | 88,898 | 71,738 | 240,558 | 209,502 |
NON-INTEREST INCOME | ||||
Electronic banking fees | 6,139 | 4,883 | 16,697 | 14,395 |
Net securities brokerage revenue | 1,836 | 1,721 | 5,315 | 5,164 |
Bank-owned life insurance | 1,232 | 1,164 | 5,116 | 3,671 |
Mortgage banking income | 1,521 | 1,103 | 4,297 | 3,511 |
Net securities gains | 84 | 6 | 403 | 511 |
Net gain/(loss) on other real estate owned and other assets | 150 | (298) | 641 | 9 |
Other income | 2,684 | 1,642 | 6,444 | 6,318 |
Total non-interest income | 26,224 | 20,899 | 73,715 | 65,906 |
NON-INTEREST EXPENSE | ||||
Salaries and wages | 30,335 | 24,957 | 82,213 | 71,575 |
Employee benefits | 7,905 | 7,728 | 22,782 | 23,670 |
Net occupancy | 4,957 | 4,132 | 13,715 | 12,969 |
Equipment | 4,488 | 3,905 | 12,532 | 12,043 |
Marketing | 1,446 | 1,599 | 3,967 | 4,482 |
FDIC insurance | 789 | 945 | 2,315 | 2,677 |
Amortization of intangible assets | 1,821 | 1,223 | 4,218 | 3,736 |
Restructuring and merger-related expense | 10,811 | 16,468 | 491 | |
Other operating expenses | 13,568 | 11,265 | 36,024 | 34,380 |
Total non-interest expense | 76,120 | 55,754 | 194,234 | 166,023 |
Income before provision for income taxes | 39,002 | 36,883 | 120,039 | 109,385 |
Provision for income taxes | 6,516 | 10,527 | 20,855 | 30,801 |
NET INCOME | $ 32,486 | $ 26,356 | $ 99,184 | $ 78,584 |
EARNINGS PER COMMON SHARE | ||||
Basic | $ 0.65 | $ 0.60 | $ 2.11 | $ 1.79 |
Diluted | $ 0.64 | $ 0.60 | $ 2.11 | $ 1.78 |
AVERAGE COMMON SHARES OUTSTANDING | ||||
Basic | 50,277,847 | 44,031,813 | 46,965,095 | 43,992,017 |
Diluted | 50,432,112 | 44,086,881 | 47,107,829 | 44,059,469 |
DIVIDENDS DECLARED PER COMMON SHARE | $ 0.29 | $ 0.26 | $ 0.87 | $ 0.78 |
COMPREHENSIVE INCOME | $ 25,965 | $ 27,637 | $ 71,869 | $ 84,873 |
Total Trust Fees [Member] | ||||
NON-INTEREST INCOME | ||||
NON-INTEREST INCOME | 6,265 | 5,358 | 18,520 | 17,073 |
Service Charges on Deposits [Member] | ||||
NON-INTEREST INCOME | ||||
NON-INTEREST INCOME | $ 6,313 | $ 5,320 | $ 16,282 | $ 15,254 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | First Sentry Bancshares, Inc. [Member] | Farmers Capital Bank Corporation [Member] | Common Stock [Member] | Common Stock [Member]First Sentry Bancshares, Inc. [Member] | Common Stock [Member]Farmers Capital Bank Corporation [Member] | Capital Surplus [Member] | Capital Surplus [Member]First Sentry Bancshares, Inc. [Member] | Capital Surplus [Member]Farmers Capital Bank Corporation [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Treasury Stock [Member]Farmers Capital Bank Corporation [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | Deferred Benefits for Directors [Member] |
Beginning Balance at Dec. 31, 2016 | $ 1,341,408 | $ 91,524 | $ 680,507 | $ 597,071 | $ (27,126) | $ (568) | ||||||||
Beginning Balance, shares at Dec. 31, 2016 | 43,931,715 | |||||||||||||
Net income | 78,584 | 78,584 | ||||||||||||
Other comprehensive income | 6,289 | 6,289 | ||||||||||||
Comprehensive income | 84,873 | |||||||||||||
Common dividends declared | (34,326) | (34,326) | ||||||||||||
Treasury shares acquired | (488) | $ (488) | ||||||||||||
Treasury shares acquired, shares | (12,987) | |||||||||||||
Stock options exercised | 1,121 | $ 75 | 858 | 188 | ||||||||||
Stock options exercised, shares | 40,834 | |||||||||||||
Restricted stock granted | $ 154 | (154) | ||||||||||||
Restricted stock granted, shares | 74,023 | |||||||||||||
Stock compensation expense | 1,970 | 1,970 | ||||||||||||
Deferred benefits for directors- net | 167 | (167) | ||||||||||||
Ending Balance at Sep. 30, 2017 | 1,394,558 | $ 91,753 | 683,348 | 641,329 | (300) | (20,837) | (735) | |||||||
Ending Balance, shares at Sep. 30, 2017 | 44,033,585 | |||||||||||||
Beginning Balance at Dec. 31, 2017 | 1,395,321 | $ 91,756 | 684,730 | 651,357 | (31,495) | (1,027) | ||||||||
Beginning Balance, shares at Dec. 31, 2017 | 44,043,244 | |||||||||||||
Net income | 99,184 | 99,184 | ||||||||||||
Other comprehensive income | (27,315) | (27,315) | ||||||||||||
Comprehensive income | 71,869 | |||||||||||||
Common dividends declared | (42,127) | (42,127) | ||||||||||||
Adoption of accounting standard ASU 2016-01 | 1,063 | (1,063) | ||||||||||||
Shares issued for acquisition | $ 107,347 | $ 391,267 | $ 5,206 | $ 16,487 | $ 102,141 | $ 374,464 | $ 316 | |||||||
Shares issued for acquisition, shares | 2,498,761 | 7,920,387 | ||||||||||||
Treasury shares acquired | (696) | 34 | (730) | |||||||||||
Treasury shares acquired, shares | (15,489) | |||||||||||||
Stock options exercised | 1,849 | $ 104 | 1,346 | 399 | ||||||||||
Stock options exercised, shares | 58,763 | |||||||||||||
Restricted stock granted | $ 205 | (205) | ||||||||||||
Restricted stock granted, shares | 98,301 | |||||||||||||
Stock compensation expense | 2,933 | 2,933 | ||||||||||||
Deferred benefits for directors- net | (494) | (437) | (57) | |||||||||||
Ending Balance at Sep. 30, 2018 | $ 1,927,269 | $ 113,758 | $ 1,165,006 | $ 709,477 | $ (15) | $ (59,873) | $ (1,084) | |||||||
Ending Balance, shares at Sep. 30, 2018 | 54,603,967 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||||
Common dividends declared, per share | $ 0.29 | $ 0.26 | $ 0.87 | $ 0.78 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 122,444 | $ 93,506 |
INVESTING ACTIVITIES | ||
Net decrease (increase) in loans held for investment | 52,411 | (122,332) |
Debt securities available-for-sale: | ||
Proceeds from sales | 82,134 | 7,760 |
Proceeds from maturities, prepayments and calls | 188,020 | 156,944 |
Purchases of securities | (688,020) | (225,404) |
Debt securities held-to-maturity: | ||
Proceeds from maturities, prepayments and calls | 51,973 | 90,457 |
Purchases of securities | (66,058) | (53,251) |
Equity securities: | ||
Proceeds from sales | 1,511 | |
Purchases of securities | (431) | |
Proceeds from bank-owned life insurance | 4,772 | 349 |
Purchases of premises and equipment - net | (2,400) | (6,223) |
Net cash received from acquisitions | 278,654 | |
Sale of portfolio loans-net | 12,996 | |
Net cash used in investing activities | (84,438) | (151,700) |
FINANCING ACTIVITIES | ||
(Decrease) increase in deposits | (20,443) | 61,389 |
Proceeds from Federal Home Loan Bank borrowings | 575,000 | 560,000 |
Repayment of Federal Home Loan Bank borrowings | (447,381) | (513,911) |
Increase in other short-term borrowings | 90,043 | 20,200 |
Decrease in federal funds purchased | (25,000) | (54,000) |
Repayment of junior subordinated debt | (17,519) | |
Dividends paid to common shareholders | (37,751) | (33,416) |
Issuance of common stock | 1,578 | 991 |
Treasury shares purchased-net | (425) | (358) |
Net cash provided by financing activities | 118,102 | 40,895 |
Net increase (decrease) in cash and cash equivalents | 156,108 | (17,299) |
Cash and cash equivalents at beginning of the period | 117,572 | 128,170 |
Cash and cash equivalents at end of the period | 273,680 | 110,871 |
SUPPLEMENTAL DISCLOSURES | ||
Interest paid on deposits and other borrowings | 46,524 | 29,857 |
Income taxes paid | 13,050 | 20,825 |
Transfers of loans to other real estate owned | 393 | $ 506 |
Transfers of loans to held for sale | 12,996 | |
First Sentry Bancshares, Inc. [Member] | ||
SUPPLEMENTAL DISCLOSURES | ||
Non-cash transactions related to acquisition | 107,347 | |
Farmers Capital Bank Corporation [Member] | ||
SUPPLEMENTAL DISCLOSURES | ||
Non-cash transactions related to acquisition | $ 391,267 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation — 10-Q S-X. 10-K WesBanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2017 Annual Report on Form 10-K Recent accounting pronouncements — 2018-15, Other—Internal-Use 350-40): internal-use internal-use 2018-15 In August 2018, the FASB issued ASU 2018-14, 715-20): 715-20 2018-14 In August 2018, the FASB issued ASU 2018-13, 2018-13 In August 2017, the FASB issued ASU 2017-12, 2017-12 In March 2017, the FASB issued ASU 2017-07 non-interest In January 2017, the FASB issued ASU 2017-01, 2017-01 In October 2016, the FASB issued ASU 2016-16 In August 2016, the FASB issued ASU 2016-15 zero-coupon In September 2016, the FASB issued ASU 2016-13 held-to-maturity available-for-sale In February 2016, the FASB issued ASU 2016-02 2018-01, 2018-10, non-cancellable In January 2016, the FASB issued ASU 2016-01 2018-03, 2016-01. available-for-sale held-to-maturity In May 2014, the FASB issued ASU 2014-09 one-year 2016-08, 2016-10, 2016-12, |
Mergers and Acquisitions
Mergers and Acquisitions | 9 Months Ended |
Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Mergers and Acquisitions | NOTE 2. MERGERS AND ACQUISITIONS First Sentry Bancshares, Inc. (“FTSB”) On April 5, 2018, WesBanco completed its acquisition of FTSB, a bank holding company headquartered in Huntington, WV. On the acquisition date, FTSB had approximately $705.6 million in assets, excluding goodwill, which included approximately $448.1 million in loans and $142.9 million in securities. The FTSB acquisition was valued at $108.3 million, based on WesBanco’s closing stock price on April 5, 2018, of $42.96, and resulted in WesBanco issuing 2,498,761 shares of its common stock and $1.0 million in cash in exchange for all of the outstanding shares of FTSB common stock including stock options. The assets and liabilities of FTSB were recorded on WesBanco’s Balance Sheet at their preliminary estimated fair values as of April 5, 2018, the acquisition date, and FTSB’s results of operations have been included in WesBanco’s Consolidated Statements of Income since that date. The fair values for certain assets and liabilities acquired from FTSB on April 5, 2018 represent preliminary estimates. Based on a preliminary purchase price allocation, WesBanco recorded $66.8 million in goodwill and $8.1 million in core deposit intangibles in its Community Banking segment. None of the goodwill is deductible for income tax purposes, as the acquisition is accounted for as a tax-free For the nine months ended September 30, 2018, WesBanco recorded merger-related expenses of $5.5 million associated with the FTSB acquisition. The preliminary purchase price of the FTSB acquisition and resulting goodwill is summarized as follows: (unaudited, in thousands) April 5, 2018 Purchase Price: Fair value of WesBanco shares issued $ 107,347 Cash consideration for outstanding FTSB shares 975 Total purchase price $ 108,322 Fair value of: Tangible assets acquired $ 610,443 Core deposit and other intangible assets acquired 8,078 Liabilities assumed (664,172 ) Net cash received in the acquisition 87,124 Fair value of net assets acquired 41,473 Goodwill recognized $ 66,849 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 FTSB within one year from the date of acquisition: (unaudited, in thousands) April 5, 2018 Assets acquired Cash and due from banks $ 87,124 Securities 142,903 Loans 448,075 Goodwill and other intangible assets 74,927 Accrued income and other assets 19,465 Total assets acquired $ 772,494 Liabilities assumed Deposits $ 590,065 Borrowings 70,710 Accrued expenses and other liabilities 3,397 Total liabilities assumed $ 664,172 Net assets acquired $ 108,322 The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of June 30, 2018: (unaudited, in thousands) April 5, 2018 Goodwill recognized as of June 30, 2018 $ 66,219 Change in fair value of net assets acquired: Assets Loans (264 ) Other intangible assets (159 ) Accrued income and other assets (6 ) Liabilities Deposits (47 ) Accrued expenses and other liabilities (154 ) Fair value of net assets acquired $ (630 ) Increase in goodwill recognized 630 Goodwill recognized as of September 30, 2018 $ 66,849 The fair value estimates for loans, deferred taxes and other liabilities have continued to fluctuate as the final valuations and/or appraisals are completed. The Company expects to finalize the purchase price accounts of FTSB within one year of the date of acquisition. Farmers Capital Bank Corporation (“FFKT”) On August 20, 2018, WesBanco completed its acquisition of FFKT, a bank holding company headquartered in Frankfort, KY. On the acquisition date, FFKT had approximately $1.6 billion in assets, excluding goodwill, which included approximately $1.0 billion in loans and $239.3 million in securities. The FFKT acquisition was valued at $428.9 million, based on WesBanco’s closing stock price on August 20, 2018, of $49.40, and resulted in WesBanco issuing 7,920,387 shares of its common stock and $37.6 million in cash in exchange for all of the outstanding shares of FFKT common stock. The assets and liabilities of FFKT were recorded on WesBanco’s Balance Sheet at their preliminary estimated fair values as of August 20, 2018, the acquisition date, and FFKT’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 FFKT on August 20, 2018 represent preliminary estimates. Based on a preliminary purchase price allocation, WesBanco recorded $225.1 million in goodwill and $39.7 million in core deposit intangibles in its community banking segment and $2.9 million in trust customer relationship intangibles in its trust and investment services segment. None of the goodwill is deductible for income tax purposes, as the acquisition is accounted for as a tax-free For the nine months ended September 30, 2018, WesBanco recorded merger-related expenses of $11.0 million associated with the FFKT acquisition. The preliminary purchase price of the FFKT acquisition and resulting goodwill is summarized as follows: (unaudited, in thousands) August 20, 2018 Purchase Price: Fair value of WesBanco shares issued $ 391,267 Cash consideration for outstanding FFKT shares 37,634 Total purchase price $ 428,901 Fair value of: Tangible assets acquired $ 1,360,951 Core deposit and other intangible assets acquired 42,593 Liabilities assumed (1,429,874 ) Net cash received in the acquisition 230,139 Fair value of net assets acquired 203,809 Goodwill recognized $ 225,092 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 FFKT within one year from the date of acquisition: (unaudited, in thousands) August 20, 2018 Assets acquired Cash and due from banks $ 230,139 Securities 239,321 Loans 1,028,120 Goodwill and other intangible assets 267,685 Accrued income and other assets 93,510 Total assets acquired $ 1,858,775 Liabilities assumed Deposits $ 1,330,328 Borrowings 71,780 Accrued expenses and other liabilities 27,766 Total liabilities assumed $ 1,429,874 Net assets acquired $ 428,901 |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | NOTE 3. EARNINGS PER COMMON SHARE Earnings per common share are calculated as follows: For the Three Months Ended For the Nine Months Ended (unaudited, in thousands, except shares and per share amounts) 2018 2017 2018 2017 Numerator for both basic and diluted earnings per common share: Net income $ 32,486 $ 26,356 $ 99,184 $ 78,584 Denominator: Total average basic common shares outstanding 50,277,847 44,031,813 46,965,095 43,992,017 Effect of dilutive stock options and other stock compensation 154,265 55,068 142,734 67,452 Total diluted average common shares outstanding 50,432,112 44,086,881 47,107,829 44,059,469 Earnings per common share—basic $ 0.65 $ 0.60 $ 2.11 $ 1.79 Earnings per common share—diluted $ 0.64 $ 0.60 $ 2.11 $ 1.78 All options to purchase shares were included in the computation of net income per diluted share for the three months ended September 30, 2018 while 117,550 shares were not included in the computation of net income per diluted share for the three months ended September 30, 2017 because the exercise price was greater than the average market price of the common shares and, therefore, the effect would be antidilutive. Options to purchase 117,600 shares at September 30, 2018 were not included in the computation of net income per diluted share for the nine months ended September 30, 2018 because the exercise price was greater than the average market price of the common shares, and therefore, the effect would be antidilutive. All stock options were included in the computation of net income per diluted share for the nine months ended September 30, 2017. As of September 30, 2018, contingently issuable shares totaling 45,840, were estimated to be awarded under the 2018 and 2017 total shareholder return plans as stock performance targets have been met to date and are included in the diluted calculation. As of September 30, 2018, the shares related to the 2016 total shareholder return plan were not included in the calculation because the effect would be antidilutive. Performance-based restricted stock compensation totaling 17,081 shares were estimated to be awarded as of September 30, 2018 and are included in the diluted calculation for both the three months and nine months ended September 30, 2018. As of September 30, 2017, the shares related to the 2017 and 2016 total shareholder return plan were not included in the calculation because the effect would be antidilutive. Performance-based restricted stock compensation totaling 4,502 shares were estimated to be awarded as of September 30, 2017, and are included in the diluted calculation for both the three months and nine months ended September 30, 2017. On April 5, 2018, WesBanco issued 2,498,761 shares of common stock to complete its acquisition of FTSB and granted 9,465 shares of restricted stock to certain FTSB employees. These shares are included in average shares outstanding beginning on that date. For additional information relating to the FTSB acquisition, refer to Note 2, “Mergers and Acquisitions.” On August 20, 2018, WesBanco issued 7,920,387 shares of common stock, 6,690 of which were treasury stock, to complete its acquisition of FFKT and granted 18,685 shares of restricted stock to certain FFKT employees. These shares are included in average shares outstanding beginning on that date. For additional information relating to the FFKT acquisition, refer to Note 2, “Mergers and Acquisitions.” |
Securities
Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | NOTE 4. SECURITIES The following table presents the fair value and amortized cost of available-for-sale held-to-maturity September 30, 2018 December 31, 2017 (unaudited, in thousands) Amortized Cost Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale U.S. Treasury $ 9,952 $ — $ (15 ) $ 9,937 $ — $ — $ — $ — U.S. Government sponsored entities and agencies 154,054 17 (4,122 ) 149,949 72,425 24 (606 ) 71,843 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 1,500,563 44 (50,853 ) 1,449,754 954,115 214 (19,407 ) 934,922 Commerical mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 174,331 15 (5,585 ) 168,761 116,448 4 (1,585 ) 114,867 Obligations of states and political subdivisions 187,501 1,445 (2,295 ) 186,651 102,363 2,927 (460 ) 104,830 Corporate debt securities 43,259 160 (239 ) 43,180 35,234 228 (59 ) 35,403 Total available-for-sale $ 2,069,660 $ 1,681 $ (63,109 ) $ 2,008,232 $ 1,280,585 $ 3,397 $ (22,117 ) $ 1,261,865 Held-to-maturity U.S. Government sponsored entities and agencies $ 11,699 $ — $ (615 ) $ 11,084 $ 11,465 $ — $ (325 ) $ 11,140 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 154,018 103 (6,788 ) 147,333 170,025 544 (2,609 ) 167,960 Obligations of states and political subdivisions 826,514 6,434 (9,743 ) 823,205 794,655 17,364 (1,609 ) 810,410 Corporate debt securities 33,307 5 (573 ) 32,739 33,355 919 — 34,274 Total held-to-maturity $ 1,025,538 $ 6,542 $ (17,719 ) $ 1,014,361 $ 1,009,500 $ 18,827 $ (4,543 ) $ 1,023,784 Total debt securities $ 3,095,198 $ 8,223 $ (80,828 ) $ 3,022,593 $ 2,290,085 $ 22,224 $ (26,660 ) $ 2,285,649 At September 30, 2018, and December 31, 2017, there were no holdings of any one issuer, other than U.S. government sponsored entities and its agencies, in an amount greater than 10% of WesBanco’s shareholders’ equity. Equity securities, of which $8.5 million consist of investments in various mutual funds held in grantor trusts formed in connection with the Company’s deferred compensation plan, are recorded at fair value and totaled $12.8 million and $13.5 million at September 30, 2018 and December 31, 2017, respectively. The following table presents the fair value of available-for-sale held-to-maturity September 30, 2018 (unaudited, in thousands) One Year One to Five to After Mortgage-backed Total Available-for-sale U.S. Treasury $ 9,937 $ — $ — $ — $ — $ 9,937 U.S. Government sponsored entities and agencies 10,479 6,260 17,881 15,298 100,031 149,949 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 1,449,754 1,449,754 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 168,761 168,761 Obligations of states and political subdivisions 9,288 48,959 76,972 51,432 — 186,651 Corporate debt securities 8,014 33,251 1,915 — — 43,180 Total available-for-sale $ 37,718 $ 88,470 $ 96,768 $ 66,730 $ 1,718,546 $ 2,008,232 Held-to-maturity U.S. Government sponsored entities and agencies $ — $ — $ — $ — $ 11,084 $ 11,084 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 147,333 147,333 Obligations of states and political subdivisions 6,149 138,709 387,775 290,572 — 823,205 Corporate debt securities — 7,449 25,290 — — 32,739 Total held-to-maturity $ 6,149 $ 146,158 $ 413,065 $ 290,572 $ 158,417 $ 1,014,361 Total debt securities $ 43,867 $ 234,628 $ 509,833 $ 357,302 $ 1,876,963 $ 3,022,593 (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) The held-to-maturity Securities with aggregate fair values of $1.9 billion and $1.4 billion at September 30, 2018 and December 31, 2017, 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 available-for-sale held-to-maturity For the Three Months Ended For the Nine Months Ended (unaudited, in thousands) 2018 2017 2018 2017 Debt securities: Gross realized gains $ 88 $ 29 $ 100 $ 603 Gross realized losses (13 ) (23 ) (31 ) (92 ) Net gains on debt securities $ 75 $ 6 $ 69 $ 511 Equity securities: Unrealized gains recognized on securities still held $ 11 $ — $ 330 $ — Net realized (losses) gains recognized on securities sold (2 ) — 4 — Net gains on equity securities $ 9 $ — $ 334 $ — Net securities gains $ 84 $ 6 $ 403 $ 511 The following tables provide information on unrealized losses on debt securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of September 30, 2018 and December 31, 2017: September 30, 2018 Less than 12 months 12 months or more Total (unaudited, dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Treasury $ 9,937 $ (15 ) 1 $ — $ — — $ 9,937 $ (15 ) 1 U.S. Government sponsored entities and agencies 93,881 (2,264 ) 38 60,410 (2,473 ) 11 154,291 (4,737 ) 49 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 759,415 (13,670 ) 188 822,774 (43,971 ) 260 1,582,189 (57,641 ) 448 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 79,056 (1,239 ) 15 86,703 (4,346 ) 11 165,759 (5,585 ) 26 Obligations of states and political subdivisions 493,252 (7,866 ) 855 120,843 (4,172 ) 236 614,095 (12,038 ) 1091 Corporate debt securities 42,816 (738 ) 17 1,915 (74 ) 1 44,731 (812 ) 18 Total temporarily impaired securities $ 1,478,357 $ (25,792 ) 1,114 $ 1,092,645 $ (55,036 ) 519 $ 2,571,002 $ (80,828 ) 1,633 December 31, 2017 Less than 12 months 12 months or more Total (unaudited, dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 24,776 $ (160 ) 4 $ 42,248 $ (771 ) 8 $ 67,024 $ (931 ) 12 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 423,794 (5,039 ) 87 637,461 (16,977 ) 193 1,061,255 (22,016 ) 280 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 79,061 (1,089 ) 10 27,852 (496 ) 6 106,913 (1,585 ) 16 Obligations of states and political subdivisions 132,831 (852 ) 210 77,554 (1,217 ) 160 210,385 (2,069 ) 370 Corporate debt securities 4,015 (19 ) 1 1,948 (40 ) 1 5,963 (59 ) 2 Total temporarily impaired securities $ 664,477 $ (7,159 ) 312 $ 787,063 $ (19,501 ) 368 $ 1,451,540 $ (26,660 ) 680 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 $53.8 million and $45.9 million at September 30, 2018 and December 31, 2017, 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 | 9 Months Ended |
Sep. 30, 2018 | |
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 net deferred loan costs were $2.8 million and $1.6 million at September 30, 2018 and December 31, 2017, respectively. The unamortized discount on purchased portfolio loans from acquisitions was $54.3 million, including $6.7 million related to FTSB and $25.9 million related to FFKT, and $21.9 million at September 30, 2018 and December 31, 2017, respectively. (unaudited, in thousands) September 30, December 31, Commercial real estate: Land and construction $ 538,922 $ 392,597 Improved property 3,367,299 2,601,851 Total commercial real estate 3,906,221 2,994,448 Commercial and industrial 1,292,073 1,125,327 Residential real estate 1,598,477 1,353,301 Home equity 604,106 529,196 Consumer 325,546 339,169 Total portfolio loans 7,726,423 6,341,441 Loans held for sale 55,913 20,320 Total loans $ 7,782,336 $ 6,361,761 The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: Allowance for Credit Losses By Category For the Nine Months Ended September 30, 2018 and 2017 (unaudited, in thousands) Commercial Commercial Real Estate - Commercial Residential Home Consumer Deposit Total Balance at December 31, 2017: Allowance for loan losses $ 3,117 $ 21,166 $ 9,414 $ 3,206 $ 4,497 $ 3,063 $ 821 $ 45,284 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total beginning allowance for credit losses 3,236 21,192 9,587 3,213 4,709 3,100 821 45,858 Provision for credit losses: Provision for loan losses 789 (721 ) 2,538 1,106 (292 ) 541 840 4,801 Provision for loan commitments 67 (3 ) 32 2 9 3 — 110 Total provision for credit losses 856 (724 ) 2,570 1,108 (283 ) 544 840 4,911 Charge-offs (137 ) (719 ) (871 ) (873 ) (745 ) (2,465 ) (941 ) (6,751 ) Recoveries 400 1,098 970 336 830 1,657 277 5,568 Net charge-offs 263 379 99 (537 ) 85 (808 ) (664 ) (1,183 ) Balance at September 30, 2018: Allowance for loan losses 4,169 20,824 12,051 3,775 4,290 2,796 997 48,902 Allowance for loan commitments 186 23 205 9 221 40 — 684 Total ending allowance for credit losses $ 4,355 $ 20,847 $ 12,256 $ 3,784 $ 4,511 $ 2,836 $ 997 $ 49,586 Balance at December 31, 2016: 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 beginning allowance for credit losses 4,499 18,645 8,600 4,115 3,584 4,042 760 44,245 Provision for credit losses: Provision for loan losses 415 1,619 2,842 (203 ) 1,259 922 680 7,534 Provision for loan commitments (18 ) 4 45 — 49 (4 ) — 76 Total provision for credit losses 397 1,623 2,887 (203 ) 1,308 918 680 7,610 Charge-offs — (1,752 ) (2,255 ) (797 ) (372 ) (2,877 ) (947 ) (9,000 ) Recoveries 89 492 649 266 180 1,336 267 3,279 Net charge-offs 89 (1,260 ) (1,606 ) (531 ) (192 ) (1,541 ) (680 ) (5,721 ) Balance at September 30, 2017: Allowance for loan losses 4,852 18,987 9,648 3,372 4,489 3,379 760 45,487 Allowance for loan commitments 133 21 233 9 211 40 — 647 Total ending allowance for credit losses $ 4,985 $ 19,008 $ 9,881 $ 3,381 $ 4,700 $ 3,419 $ 760 $ 46,134 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 (unaudited, in thousands) Commercial Commercial Commercial Residential Estate Home Consumer Deposit Total September 30, 2018 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — Allowance for loans collectively evaluated for impairment 4,169 20,824 12,051 3,775 4,290 2,796 997 48,902 Allowance for loan commitments 186 23 205 9 221 40 — 684 Total allowance for credit losses $ 4,355 $ 20,847 $ 12,256 $ 3,784 $ 4,511 $ 2,836 $ 997 $ 49,586 Portfolio loans: Individually evaluated for impairment (1) $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 537,699 3,361,315 1,291,296 1,595,547 604,106 325,419 — 7,715,382 Acquired with deteriorated credit quality 1,223 5,984 777 2,930 — 127 — 11,041 Total portfolio loans $ 538,922 $ 3,367,299 $ 1,292,073 $ 1,598,477 $ 604,106 $ 325,546 $ — $ 7,726,423 December 31, 2017 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 388 $ — $ — $ — $ — $ — $ 388 Allowance for loans collectively evaluated for impairment 3,117 20,778 9,414 3,206 4,497 3,063 821 44,896 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total allowance for credit losses $ 3,236 $ 21,192 $ 9,587 $ 3,213 $ 4,709 $ 3,100 $ 821 $ 45,858 Portfolio loans: Individually evaluated for impairment (1) $ — $ 3,344 $ — $ — $ — $ — $ — $ 3,344 Collectively evaluated for impairment 391,140 2,593,393 1,124,544 1,352,587 529,196 339,163 — 6,330,023 Acquired with deteriorated credit quality 1,457 5,114 783 714 — 6 — 8,074 Total portfolio loans $ 392,597 $ 2,601,851 $ 1,125,327 $ 1,353,301 $ 529,196 $ 339,169 $ — $ 6,341,441 (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 Commercial and industrial loans consist of revolving lines of credit to finance accounts receivable, inventory and other general business purposes; term loans to finance fixed assets other than real estate, and letters of credit to support trade, insurance or governmental requirements for a variety of businesses. Most C&I borrowers are privately-held companies with annual sales up to $100 million. Factors that are considered for commercial and industrial loans include the type, quality and marketability of 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 (unaudited, in thousands) Commercial Commercial Commercial Total As of September 30, 2018 Pass $ 533,982 $ 3,314,324 $ 1,272,181 $ 5,120,487 Criticized—compromised 2,909 31,399 12,062 46,370 Classified—substandard 2,031 21,576 7,830 31,437 Classified—doubtful — — — — Total $ 538,922 $ 3,367,299 $ 1,292,073 $ 5,198,294 As of December 31, 2017 Pass $ 386,753 $ 2,548,805 $ 1,110,267 $ 4,045,825 Criticized—compromised 2,984 25,673 7,435 36,092 Classified—substandard 2,860 27,373 7,625 37,858 Classified—doubtful — — — — Total $ 392,597 $ 2,601,851 $ 1,125,327 $ 4,119,775 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 was $20.6 million at September 30, 2018 and $22.8 million at December 31, 2017, of which $2.2 million and $2.5 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 FFKT Loans 310-20 Loans acquired with deteriorated credit quality with a book value of $2.7 million were recorded at the preliminary fair value of $2.4 million, of which all were accounted for under the cost recovery method in accordance with ASC 310-30 non-accrual. The carrying amount of loans acquired with deteriorated credit quality at September 30, 2018 was $2.1 million, while the outstanding customer balance was $2.4 million. At September 30, 2018 no allowance for loan losses has been recognized related to the acquired impaired loans. Certain acquired underperforming loans with a book value of $45.2 million were transferred to loans held for sale prior to September 30, 2018 at the preliminary fair value of $35.2 million. Acquired FTSB Loans 310-20 Loans acquired with deteriorated credit quality with a book value of $4.1 million were recorded at the preliminary fair value of $2.0 million, of which $0.7 million were accounted for under the cost recovery method in accordance with ASC 310-30 non-accrual. The carrying amount of loans acquired with deteriorated credit quality at September 30, 2018 was $1.7 million, while the outstanding customer balance was $3.8 million. At September 30, 2018, no allowance for loan losses has been recognized related to the acquired impaired loans. Certain acquired underperforming loans with a book value of $4.0 million were transferred to loans held for sale prior to September 30, 2018 at the preliminary fair value of $2.8 million. Certain acquired underperforming loans with a book value of $17.7 million were sold in the second quarter of 2018 for $12.9 million. The acquisition date fair value of the acquired loans was adjusted to the sale price resulting in no gain or loss. The following table provides changes in accretable yield for loans acquired with deteriorated credit quality: For the Nine Months Ended (unaudited, in thousands) September 30, September 30, Balance at beginning of period $ 1,724 $ 1,717 Acquisitions 695 — Reduction due to change in projected cash flows (86 ) — Reclass from non-accretable difference 6,287 1,490 Transfers out — (216 ) Accretion (902 ) (1,384 ) Balance at end of period $ 7,718 $ 1,607 The following tables summarize the age analysis of all categories of loans: Age Analysis of Loans (unaudited, in thousands) Current 30-59 Days 60-89 Days 90 Days Total Total Loans 90 Days As of September 30, 2018 Commercial real estate: Land and construction $ 538,181 $ 643 $ 98 $ — $ 741 $ 538,922 $ — Improved property 3,357,883 1,657 352 7,407 9,416 3,367,299 88 Total commercial real estate 3,896,064 2,300 450 7,407 10,157 3,906,221 88 Commercial and industrial 1,287,693 776 462 3,142 4,380 1,292,073 114 Residential real estate 1,579,164 8,100 2,708 8,505 19,313 1,598,477 1,225 Home equity 596,477 2,871 1,002 3,756 7,629 604,106 646 Consumer 322,093 2,291 605 557 3,453 325,546 378 Total portfolio loans 7,681,491 16,338 5,227 23,367 44,932 7,726,423 2,451 Loans held for sale 55,913 — — — — 55,913 — Total loans $ 7,737,404 $ 16,338 $ 5,227 $ 23,367 $ 44,932 $ 7,782,336 $ 2,451 Impaired loans included above are as follows: Non-accrual $ 7,480 $ 1,653 $ 1,225 $ 20,916 $ 23,794 $ 31,274 TDRs accruing interest (1) 5,667 314 357 — 671 6,338 Total impaired $ 13,147 $ 1,967 $ 1,582 $ 20,916 $ 24,465 $ 37,612 As of December 31, 2017 Commercial real estate: Land and construction $ 392,189 $ — $ 172 $ 236 $ 408 $ 392,597 $ — Improved property 2,589,704 374 1,200 10,573 12,147 2,601,851 243 Total commercial real estate 2,981,893 374 1,372 10,809 12,555 2,994,448 243 Commercial and industrial 1,121,957 572 196 2,602 3,370 1,125,327 20 Residential real estate 1,338,240 4,487 2,376 8,198 15,061 1,353,301 1,113 Home equity 522,584 2,135 683 3,794 6,612 529,196 742 Consumer 334,723 2,466 842 1,138 4,446 339,169 608 Total portfolio loans 6,299,397 10,034 5,469 26,541 42,044 6,341,441 2,726 Loans held for sale 20,320 — — — — 20,320 — Total loans $ 6,319,717 $ 10,034 $ 5,469 $ 26,541 $ 42,044 $ 6,361,761 $ 2,726 Impaired loans included above are as follows: Non-accrual $ 9,195 $ 1,782 $ 2,033 $ 23,815 $ 27,630 $ 36,825 TDRs accruing interest (1) 6,055 348 168 — 516 6,571 Total impaired $ 15,250 $ 2,130 $ 2,201 $ 23,815 $ 28,146 $ 43,396 (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 September 30, 2018 December 31, 2017 (unaudited, in thousands) Unpaid Recorded Related Unpaid Recorded Related With no related specific allowance recorded: Commercial real estate: Land and construction $ — $ $ — $ 412 $ 239 $ — Improved property 14,639 9,928 — 18,229 12,863 — Commercial and industrial 3,886 3,327 — 3,745 3,086 — Residential real estate 21,226 18,944 — 20,821 18,982 — Home equity 5,550 4,728 — 5,833 5,169 — Consumer 857 685 — 1,084 952 — Total impaired loans without a specific allowance 46,158 37,612 — 50,124 41,291 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property — — — 2,105 2,105 388 Commercial and industrial — — — — — — Total impaired loans with a specific allowance — — — 2,105 2,105 388 Total impaired loans $ 46,158 $ 37,612 $ — $ 52,229 $ 43,396 $ 388 (1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off Impaired Loans For the Three Months Ended For the Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 (unaudited, in thousands) Average Interest Average Interest Average Interest Average Interest With no related specific allowance recorded: Commercial real estate: Land and construction $ — $ — $ 444 $ — $ 260 $ — $ 516 $ — Improved Property 10,409 15 10,923 31 11,000 383 10,271 400 Commercial and industrial 3,181 5 3,588 2 2,985 9 3,700 6 Residential real estate 18,336 68 17,039 57 18,207 195 17,743 192 Home equity 4,924 8 4,727 4 4,997 19 4,456 14 Consumer 692 3 731 2 776 8 746 5 Total impaired loans without a specific allowance 37,542 99 37,452 96 38,225 614 37,432 617 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — — — Improved Property — — 5,137 — 1,052 — 5,032 — Commercial and industrial — — — — — — 318 — Total impaired loans with a specific allowance — — 5,137 — 1,052 — 5,350 — Total impaired loans $ 37,542 $ 99 $ 42,589 $ 96 $ 39,277 $ 614 $ 42,782 $ 617 The following tables present the recorded investment in non-accrual Non-accrual (unaudited, in thousands) September 30, December 31, Commercial real estate: Land and construction $ — $ 239 Improved property 8,757 13,318 Total commercial real estate 8,757 13,557 Commercial and industrial 3,165 2,958 Residential real estate 14,475 14,661 Home equity 4,283 4,762 Consumer 594 887 Total $ 31,274 $ 36,825 (1) At September 30, 2018, there was one borrower with a loan greater than $1.0 million totaling $3.4 million, as compared to three borrowers with loans greater than $1.0 million totaling $6.8 million at December 31, 2017. Total non-accrual non-accrual TDRs September 30, 2018 December 31, 2017 (unaudited, in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ — $ — $ — $ 3 $ 3 Improved property 1,171 640 1,811 1,650 428 2,078 Total commercial real estate 1,171 640 1,811 1,650 431 2,081 Commercial and industrial 162 — 162 128 97 225 Residential real estate 4,469 1,182 5,651 4,321 1,880 6,201 Home equity 445 167 612 407 337 744 Consumer 91 47 138 65 120 185 Total $ 6,338 $ 2,036 $ 8,374 $ 6,571 $ 2,865 $ 9,436 As of September 30, 2018 and December 31, 2017, 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 tables present details related to loans identified as TDRs during the three and nine months ended September 30, 2018 and 2017, respectively: New TDRs (1) For the Three Months Ended September 30, 2018 September 30, 2017 (unaudited, dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved Property — — — 1 190 185 Total commercial real estate — — — 1 190 185 Commercial and industrial — — — — — — Residential real estate — — — — — — Home equity — — — 2 94 88 Consumer 1 19 18 1 7 6 Total 1 $ 19 $ 18 4 $ 291 $ 279 (1) Excludes loans that were either paid off or charged-off pre-modification New TDRs (1) For the Nine Months Ended September 30, 2018 September 30, 2017 (unaudited, dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved Property — — — 1 190 185 Total commercial real estate — — — 1 190 185 Commercial and industrial 1 10 8 1 64 59 Residential real estate 5 203 176 2 22 17 Home equity 1 20 19 3 141 132 Consumer 4 65 52 4 42 33 Total 11 $ 298 $ 255 11 $ 459 $ 426 (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 nine months ended September 30, 2018 and 2017, respectively, that were restructured within the last twelve months prior to September, 2018 and 2017, respectively: Defaulted TDRs (1) For the Nine Months Ended September 30, 2018 September 30, 2017 (unaudited, dollars in thousands) Number of Recorded Number of Recorded Commercial real estate: Land and construction — $ — — $ — Improved property — — — — Total commercial real estate — — — — Commercial and industrial — — — — Residential real estate 2 172 1 7 Home equity 1 6 — — Consumer — — 1 7 Total 3 $ 178 2 $ 14 (1) Excludes loans that were either charged-off TDRs that default are placed on non-accrual The following table summarizes other real estate owned and repossessed assets included in other assets: September 30, 2018 December 31, 2017 (unaudited, in thousands) Other real estate owned $ 6,836 $ 5,195 Repossessed assets 41 102 Total other real estate owned and repossessed assets $ 6,877 $ 5,297 Residential real estate included in other real estate owned at September 30, 2018 and December 31, 2017 was $0.7 million and $1.5 million, respectively. At September 30, 2018 and December 31, 2017, formal foreclosure proceedings were in process on residential real estate loans totaling $6.0 million and $3.5 million, respectively. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | NOTE 6. 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. Loan Swaps WesBanco executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously economically 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 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 September 30, 2018 and December 31, 2017, WesBanco had 42 and 39, respectively, interest rate swaps with an aggregate notional amount of $234.4 million and $298.2 million, respectively, related to this program. During the nine months ended September 30, 2018 and 2017, WesBanco recognized net losses of $0.1 million and $0.3 million, respectively, related to the changes in fair value of these swaps. Additionally, WesBanco recognized $1.4 million and $1.2 million of income for the related swap fees for the nine months ended September 30, 2018 and 2017, respectively. Mortgage Loans Held for Sale and Loan Commitments Certain residential mortgage loans are originated for sale in the secondary mortgage loan market. These loans are classified as held for sale and carried at fair value as WesBanco has elected the fair value option. Fair value is determined based on rates obtained from the secondary market for loans with similar characteristics. WesBanco sells loans to the secondary market on a mandatory or best efforts basis. The loans sold on a mandatory basis are not committed to an investor until the loan is closed with the borrower. WesBanco enters into forward TBA contracts to manage the interest rate risk between the loan commitment and the closing of the loan. The loans sold on a best efforts basis are committed to an investor simultaneous to the interest rate commitment with the borrower. 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. None of WesBanco’s derivatives are designated in qualifying hedging relationships under ASC 815. The table below presents the fair value of WesBanco’s derivative financial instruments as well as their classification on the Balance Sheet as of September 30, 2018 and December 31, 2017: September 30, 2018 December 31, 2017 (unaudited, in thousands) Notional or Asset Liability Notional or Asset Liability Derivatives Loan Swaps: Interest rate swaps $ 234,363 $ 6,451 $ 6,527 $ 298,223 $ 7,351 $ 7,345 Other contracts: Interest rate loan commitments 27,795 32 — 20,319 49 — Forward TBA contracts 32,000 148 — 31,750 — 23 Total derivatives $ 6,631 $ 6,527 $ 7,400 $ 7,368 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 Three Months Ended For the Nine Months Ended (unaudited, in thousands) Location of Gain/(Loss) 2018 2017 2018 2017 Interest rate swaps Other income $ (293 ) $ (32 ) $ (82 ) $ (335 ) Interest rate loan commitments Mortgage banking income (111 ) — 32 123 Forward TBA contracts Mortgage banking income 131 — 530 — Total $ (273 ) $ (32 ) $ 480 $ (212 ) 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 $3.7 million as of September 30, 2018. If WesBanco had breached any of these provisions at September 30, 2018, 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. |
Pension Plan
Pension Plan | 9 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Pension Plan | NOTE 7. PENSION PLAN The following table presents the net periodic pension cost for WesBanco’s Defined Benefit Pension Plan (the “Plan”) and the related components: For the Three Months Ended For the Nine Months Ended (unaudited, in thousands) 2018 2017 2018 2017 Service cost – benefits earned during year $ 715 $ 650 $ 2,121 $ 1,929 Interest cost on projected benefit obligation 1,242 1,107 3,684 3,287 Expected return on plan assets (2,416 ) (1,928 ) (7,169 ) (5,721 ) Amortization of prior service cost 6 7 19 19 Amortization of net loss 766 812 2,274 2,409 Net periodic pension cost $ 313 $ 648 $ 929 $ 1,923 The Plan covers all employees of WesBanco and its subsidiaries who were hired on or before August 1, 2007 who satisfy minimum age and length of service requirements, and is not available to employees hired after such date. A minimum required contribution of $5.1 million is due for 2018, which could be all or partially offset by the Plan’s $56.9 million available credit balance. WesBanco made a voluntary contribution of $2.5 million to the Plan in June 2018. WesBanco assumed YCB’s obligation for a predecessor bank’s participation in a defined benefit plan. The net periodic pension income for this plan for the three and nine months ended September 30, 2018 was $0.1 million and $0.2 million, respectively, which was comprised of a $0.2 million and a $0.5 million expected return on plan assets and net actuarial gain, partially offset by a $0.1 million and a $0.3 million interest cost on projected benefit obligation for the three and nine months ended September 30, 2018, respectively. No minimum contribution is due for this plan for fiscal year 2018; however, WesBanco made a voluntary contribution of $0.2 million to this plan in June 2018. WesBanco assumed FFKT’s postretirement medical benefit plan, which had a liability totaling $15.0 million at the acquisition date. The plan covers FFKT employees who were hired before January 1, 2016 and meet certain age and length of full-time service requirements. The plan was modified in August 2018, which reduced the number of eligible employees. The modification resulted in a $5.5 million unrealized gain, which was recorded in Accumulated Other Comprehensive Income net of tax and will be recognized over the life of the plan participants estimated to be approximately 17 years. The modification reduced the plan liability to $9.5 million as of September 30, 2018. |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | NOTE 8. 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: Derivatives: WesBanco enters into forward TBA contracts to manage the interest rate risk between the loan commitments to the customer and the closing of the loan for loans that will be sold on a mandatory basis to secondary market investors. The forward TBA contract is reported at fair value in other assets and other liabilities on the consolidated balance sheet with any resulting gain or loss recorded in current period’s earnings as mortgage banking income. 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 September 30, 2018 and December 31, 2017: September 30, 2018 Fair Value Measurements Using: (unaudited, in thousands) September 30, Quoted Prices in Significant Significant Investments Recurring fair value measurements Equity securities $ 12,784 $ 12,784 $ — $ — $ — Debt securities—available-for-sale U.S. Treasury 9,937 — 9,937 — — U.S. Government sponsored entities and agencies 149,949 — 149,949 — — Residential mortgage-backed securities and 1,449,754 — 1,449,754 — — Commercial mortgage-backed securities and 168,761 — 168,761 — — Obligations of state and political subdivisions 186,651 — 185,125 1,526 — Corporate debt securities 43,180 — 43,180 — — Total debt securities—available-for-sale $ 2,008,232 $ — $ 2,006,706 $ 1,526 $ — Loans held for sale 55,913 — 55,913 — — Other assets—interest rate derivatives agreements 6,451 — 6,451 — — Total assets recurring fair value measurements $ 2,083,380 $ 12,784 $ 2,069,070 $ 1,526 $ — Other liabilities—interest rate derivatives agreements $ 6,527 $ — $ 6,527 $ — $ — Total liabilities recurring fair value measurements $ 6,527 $ — $ 6,527 $ — $ — Nonrecurring fair value measurements Impaired loans $ — $ — $ — $ — $ — Other real estate owned and repossessed assets 6,877 — — 6,877 — Total nonrecurring fair value measurements $ 6,877 $ — $ — $ 6,877 $ — December 31, 2017 Fair Value Measurements Using: (unaudited, in thousands) December 31, Quoted Prices in Significant Significant Investments Recurring fair value measurements Equity securities $ 13,457 $ 11,391 $ — $ — $ 2,066 Debt securities—available-for-sale U.S. Government sponsored entities and agencies 71,843 — 71,843 — — Residential mortgage-backed securities and 934,922 — 934,922 — — Commercial mortgage-backed securities and 114,867 — 114,867 — — Obligations of state and political subdivisions 104,830 — 104,830 — — Corporate debt securities 35,403 — 35,403 — — Total debt securities—available-for-sale $ 1,261,865 $ — $ 1,261,865 $ — $ — Loans held for sale 20,320 — 20,320 — — Other assets—interest rate derivatives agreements 7,351 — 7,351 — — Total assets recurring fair value measurements $ 1,302,993 $ 11,391 $ 1,289,536 $ — $ 2,066 Other liabilities—interest rate derivatives agreements $ 7,345 $ — $ 7,345 $ — $ — Total liabilities recurring fair value measurements $ 7,345 $ — $ 7,345 $ — $ — Nonrecurring fair value measurements Impaired loans $ 1,717 $ — $ — $ 1,717 $ — Other real estate owned and repossessed assets 5,297 — — 5,297 — Total nonrecurring fair value measurements $ 7,014 $ — $ — $ 7,014 $ — 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 significant transfers between level 1, 2 or 3 for the three and nine months ended September 30, 2018 or for the year ended December 31, 2017. The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which WesBanco has utilized level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements (unaudited, in thousands) Fair Value Valuation Unobservable Range (Weighted September 30, 2018 Impaired loans $ — Appraisal of collateral (1) Appraisal adjustments (2) — Liquidation expenses (2) — Other real estate owned and repossessed assets 6,877 Appraisal of collateral (1), (3) December 31, 2017: Impaired loans $ 1,717 Appraisal of collateral (1) Appraisal adjustments (2) (4.8%) / (4.8 %) Liquidation expenses (2) (7.6%) / (7.6 %) Other real estate owned and repossessed assets 5,297 Appraisal of collateral (1), (3) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expenses are presented as a percent of the appraisal. (3) Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management which are not identifiable. The estimated fair values of WesBanco’s financial instruments are summarized below: Fair Value Measurements at September 30, 2018 (unaudited, in thousands) Carrying Fair Value Quoted Prices in Significant Other Significant Investments Financial Assets Cash and due from banks $ 273,680 $ 273,680 $ 273,680 $ — $ — $ — Equity securities 12,784 12,784 12,784 — — — Debt securities available-for-sale 2,008,232 2,008,232 — 2,006,706 1,526 — Debt securities held-to-maturity 1,025,538 1,014,361 — 1,013,788 573 — Net loans 7,677,521 7,517,958 — — 7,517,958 — Loans held for sale 55,913 55,913 — 55,913 — — Other assets—interest rate derivatives 6,451 6,451 — 6,451 — — Accrued interest receivable 39,465 39,465 39,465 — — — Financial Liabilities Deposits 8,941,758 8,960,221 7,428,158 1,532,063 — — Federal Home Loan Bank borrowings 1,131,253 1,123,441 — 1,123,441 — — Other borrowings 294,281 294,285 292,290 1,995 — — Subordinated debt and junior subordinated debt 189,745 179,497 — 179,497 — — Other liabilities—interest rate derivatives 6,527 6,527 — 6,527 — — Accrued interest payable 6,623 6,623 6,623 — — — Fair Value Measurements at December 31, 2017 (unaudited, in thousands) Carrying Fair Value Quoted Prices in Significant Other Significant Investments Financial Assets Cash and due from banks $ 117,572 $ 117,572 $ 117,572 $ — $ — $ — Equity securities 13,457 13,457 11,391 — — 2,066 Debt securities available-for-sale 1,261,865 1,261,865 — 1,261,865 — — Debt securities held-to-maturity 1,009,500 1,023,784 — 1,023,191 593 — Net loans 6,296,157 6,212,823 — — 6,212,823 — Loans held for sale 20,320 20,320 — 20,320 — — Other assets—interest rate derivatives 7,351 7,351 — 7,351 — — Accrued interest receivable 29,728 29,728 29,728 — — — Financial Liabilities Deposits 7,043,588 7,053,536 5,766,531 1,287,005 — — Federal Home Loan Bank borrowings 948,203 944,706 — 944,706 — — Other borrowings 184,805 184,814 182,785 2,029 — — Subordinated debt and junior subordinated debt 164,327 146,484 — 146,484 — — Other liabilities—interest rate derivatives 7,345 7,345 — 7,345 — — Accrued interest payable 3,178 3,178 3,178 — — — 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: Debt 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 |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Revenue Recognition | NOTE 9. REVENUE RECOGNITION WesBanco adopted ASU 2014-09 Trust fees: Service charges on deposits: Allotment fees: Electronic banking fees: Net securities brokerage revenue: Mortgage banking income: Net gain or loss on sale of other real estate owned: The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the three and nine months ended September 30, 2018: (unaudited, in thousands) Point of Revenue Recognition For the Three For the Nine Revenue Streams Trust fees Trust account fees Over time $ 4,006 $ 11,856 WesMark fees Over time 2,259 6,664 Total trust fees 6,265 18,520 Service charges on deposits Commercial banking fees Over time 563 1,406 Personal service charges At a point in time & over time 5,750 14,876 Total service charges on deposits 6,313 16,282 Net securities brokerage revenue Annuity commissions At a point in time 1,326 3,836 Equity and debt security trades At a point in time 116 304 Managed money Over time 173 477 Trail commissions Over time 221 698 Total net securities brokerage revenue 1,836 5,315 Allotment fees (1) At a point in time & over time 311 311 Electronic banking fees At a point in time 6,139 16,697 Mortgage banking income At a point in time 1,521 4,297 Net gain or loss on sale of other real estate owned At a point in time 150 641 (1) Allotment fees are included in other non-interest |
Comprehensive Income_(Loss)
Comprehensive Income/(Loss) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Comprehensive Income/(Loss) | NOTE 10. COMPREHENSIVE INCOME/(LOSS) The activity in accumulated other comprehensive income for the nine months ended September 30, 2018 and 2017 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (unaudited, in thousands) Defined Unrealized Available-for-Sale Unrealized Gains Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2017 $ (18,626 ) $ (13,250 ) $ 381 $ (31,495 ) Other comprehensive income before reclassifications — (33,013 ) — (33,013 ) Acquired FFKT Medical benefit plan 4,235 — — 4,235 Amounts reclassified from accumulated other comprehensive income 1,621 (9 ) (149 ) 1,463 Period change 5,856 (33,022 ) (149 ) (27,315 ) Adoption of Accounting Standard ASU 2016-01 (2) — (1,063 ) — (1,063 ) Balance at September 30, 2018 $ (12,770 ) $ (47,335 ) $ 232 $ (59,873 ) Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) Other comprehensive income before reclassifications — 4,740 — 4,740 Amounts reclassified from accumulated other comprehensive income 1,679 35 (165 ) 1,549 Period change 1,679 4,775 (165 ) 6,289 Balance at September 30, 2017 $ (16,079 ) $ (5,115 ) $ 357 $ (20,837 ) (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 23% in 2018 and 37% in all prior periods. (2) See Note 1, Summary of Significant Accounting Policies for additional information about WesBanco’s adoption of ASU 2016-01. The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2018 and 2017, respectively: Details about Accumulated Other Comprehensive Income Components (unaudited, in thousands) For the Three For the Nine Affected Line Item in the Statement of 2018 2017 2018 2017 Securities available-for-sale (1) Net securities gains/losses reclassified into earnings $ (11 ) $ — $ (11 ) $ 55 Net securities gains (Non-interest Related income tax benefit 2 — 2 (20 ) Provision for income taxes Net effect on accumulated other comprehensive income for the period (9 ) — (9 ) 35 Securities held-to-maturity (1) Amortization of unrealized gain transferred from available-for-sale (64 ) (66 ) (195 ) (256 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 15 24 46 91 Provision for income taxes Net effect on accumulated other comprehensive income for the period (49 ) (42 ) (149 ) (165 ) Defined benefit plans (2) Amortization of net loss and prior service costs 772 816 2,293 2,429 Employee benefits (Non-interest Related income tax benefit (177 ) (303 ) (672 ) (750 ) Provision for income taxes Net effect on accumulated other comprehensive income for the period 595 513 1,621 1,679 Total reclassifications for the period $ 537 $ 471 $ 1,463 $ 1,549 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 7, “Pension and Other Post Retirement Benefits” for additional detail. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | NOTE 11. 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 both September 30, 2018 and December 31, 2017. Contingent obligations and other guarantees include affordable housing plan guarantees, credit card guarantees and obligations under the FHLB’s loan purchasing program. Affordable housing plan guarantees are performance guarantees for various building project loans. The guarantee amortizes as the loan balances decrease. Credit card guarantees are credit card balances not owned by WesBanco, whereby the Bank guarantees the performance of the cardholder. The mortgages sold to FHLB obligate WesBanco to reimburse the FHLB for a portion of any loan balances that default. The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: (unaudited, in thousands) September 30, December 31, Lines of credit $ 1,855,388 $ 1,452,697 Loans approved but not closed 349,173 245,644 Overdraft limits 154,221 126,671 Letters of credit 41,515 31,951 Contingent obligations and other guarantees 5,725 6,700 Contingent Liabilities — |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 12. BUSINESS SEGMENTS WesBanco operates two reportable segments: community banking and 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: (unaudited, in thousands) Community Trust and Consolidated For the Three Months ended September 30, 2018: Interest income $ 108,393 $ — $ 108,393 Interest expense 18,460 — 18,460 Net interest income 89,933 — 89,933 Provision for credit losses 1,035 — 1,035 Net interest income after provision for credit losses 88,898 — 88,898 Non-interest 19,959 6,265 26,224 Non-interest 72,378 3,742 76,120 Income before provision for income taxes 36,479 2,523 39,002 Provision for income taxes 5,986 530 6,516 Net income $ 30,493 $ 1,993 $ 32,486 For the Three Months ended September 30, 2017: Interest income $ 85,489 $ — $ 85,489 Interest expense 11,235 — 11,235 Net interest income 74,254 — 74,254 Provision for credit losses 2,516 — 2,516 Net interest income after provision for credit losses 71,738 — 71,738 Non-interest 15,541 5,358 20,899 Non-interest 52,355 3,399 55,754 Income before provision for income taxes 34,924 1,959 36,883 Provision for income taxes 9,744 783 10,527 Net income $ 25,180 $ 1,176 $ 26,356 For the Nine Months ended September 30, 2018: Interest income $ 293,596 $ — $ 293,596 Interest expense 48,127 — 48,127 Net interest income 245,469 — 245,469 Provision for credit losses 4,911 — 4,911 Net interest income after provision for credit losses 240,558 — 240,558 Non-interest 55,195 18,520 73,715 Non-interest 183,298 10,936 194,234 Income before provision for income taxes 112,455 7,584 120,039 Provision for income taxes 19,262 1,593 20,855 Net income $ 93,193 $ 5,991 $ 99,184 For the Nine Months ended September 30, 2017: Interest income $ 247,573 $ — $ 247,573 Interest expense 30,461 — 30,461 Net interest income 217,112 — 217,112 Provision for credit losses 7,610 — 7,610 Net interest income after provision for credit losses 209,502 — 209,502 Non-interest 48,833 17,073 65,906 Non-interest 156,102 9,921 166,023 Income before provision for income taxes 102,233 7,152 109,385 Provision for income taxes 27,940 2,861 30,801 Net income $ 74,293 $ 4,291 $ 78,584 Total non-fiduciary |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation — 10-Q S-X. 10-K WesBanco’s interim financial statements have been prepared following the significant accounting policies disclosed in Note 1 of the Notes to the Consolidated Financial Statements of its 2017 Annual Report on Form 10-K |
Recent accounting pronouncements | Recent accounting pronouncements — 2018-15, Other—Internal-Use 350-40): internal-use internal-use 2018-15 In August 2018, the FASB issued ASU 2018-14, 715-20): 715-20 2018-14 In August 2018, the FASB issued ASU 2018-13, 2018-13 In August 2017, the FASB issued ASU 2017-12, 2017-12 In March 2017, the FASB issued ASU 2017-07 non-interest In January 2017, the FASB issued ASU 2017-01, 2017-01 In October 2016, the FASB issued ASU 2016-16 In August 2016, the FASB issued ASU 2016-15 zero-coupon In September 2016, the FASB issued ASU 2016-13 held-to-maturity available-for-sale In February 2016, the FASB issued ASU 2016-02 2018-01, 2018-10, non-cancellable In January 2016, the FASB issued ASU 2016-01 2018-03, 2016-01. available-for-sale held-to-maturity In May 2014, the FASB issued ASU 2014-09 one-year 2016-08, 2016-10, 2016-12, |
Mergers and Acquisitions (Table
Mergers and Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
First Sentry Bancshares, Inc. [Member] | |
Summary of Preliminary Purchase Price of Acquisition and Resulting Goodwill | The preliminary purchase price of the FTSB acquisition and resulting goodwill is summarized as follows: (unaudited, in thousands) April 5, 2018 Purchase Price: Fair value of WesBanco shares issued $ 107,347 Cash consideration for outstanding FTSB shares 975 Total purchase price $ 108,322 Fair value of: Tangible assets acquired $ 610,443 Core deposit and other intangible assets acquired 8,078 Liabilities assumed (664,172 ) Net cash received in the acquisition 87,124 Fair value of net assets acquired 41,473 Goodwill recognized $ 66,849 |
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 FTSB within one year from the date of acquisition: (unaudited, in thousands) April 5, 2018 Assets acquired Cash and due from banks $ 87,124 Securities 142,903 Loans 448,075 Goodwill and other intangible assets 74,927 Accrued income and other assets 19,465 Total assets acquired $ 772,494 Liabilities assumed Deposits $ 590,065 Borrowings 70,710 Accrued expenses and other liabilities 3,397 Total liabilities assumed $ 664,172 Net assets acquired $ 108,322 |
Purchase Price Allocation Adjustment [Member] | |
Allocation of Purchase Price of Assets Acquired and Liabilities Assumed | The following table presents the changes in the allocation of the purchase price of the assets acquired and the liabilities assumed at the date of the acquisition previously reported as of June 30, 2018: (unaudited, in thousands) April 5, 2018 Goodwill recognized as of June 30, 2018 $ 66,219 Change in fair value of net assets acquired: Assets Loans (264 ) Other intangible assets (159 ) Accrued income and other assets (6 ) Liabilities Deposits (47 ) Accrued expenses and other liabilities (154 ) Fair value of net assets acquired $ (630 ) Increase in goodwill recognized 630 Goodwill recognized as of September 30, 2018 $ 66,849 |
Farmers Capital Bank Corporation [Member] | |
Summary of Preliminary Purchase Price of Acquisition and Resulting Goodwill | The preliminary purchase price of the FFKT acquisition and resulting goodwill is summarized as follows: (unaudited, in thousands) August 20, 2018 Purchase Price: Fair value of WesBanco shares issued $ 391,267 Cash consideration for outstanding FFKT shares 37,634 Total purchase price $ 428,901 Fair value of: Tangible assets acquired $ 1,360,951 Core deposit and other intangible assets acquired 42,593 Liabilities assumed (1,429,874 ) Net cash received in the acquisition 230,139 Fair value of net assets acquired 203,809 Goodwill recognized $ 225,092 |
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 FFKT within one year from the date of acquisition: (unaudited, in thousands) August 20, 2018 Assets acquired Cash and due from banks $ 230,139 Securities 239,321 Loans 1,028,120 Goodwill and other intangible assets 267,685 Accrued income and other assets 93,510 Total assets acquired $ 1,858,775 Liabilities assumed Deposits $ 1,330,328 Borrowings 71,780 Accrued expenses and other liabilities 27,766 Total liabilities assumed $ 1,429,874 Net assets acquired $ 428,901 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Summary of Earnings Per Common Share | Earnings per common share are calculated as follows: For the Three Months Ended For the Nine Months Ended (unaudited, in thousands, except shares and per share amounts) 2018 2017 2018 2017 Numerator for both basic and diluted earnings per common share: Net income $ 32,486 $ 26,356 $ 99,184 $ 78,584 Denominator: Total average basic common shares outstanding 50,277,847 44,031,813 46,965,095 43,992,017 Effect of dilutive stock options and other stock compensation 154,265 55,068 142,734 67,452 Total diluted average common shares outstanding 50,432,112 44,086,881 47,107,829 44,059,469 Earnings per common share—basic $ 0.65 $ 0.60 $ 2.11 $ 1.79 Earnings per common share—diluted $ 0.64 $ 0.60 $ 2.11 $ 1.78 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Debt Securities | The following table presents the fair value and amortized cost of available-for-sale held-to-maturity September 30, 2018 December 31, 2017 (unaudited, in thousands) Amortized Cost Gross Gross Estimated Amortized Gross Gross Estimated Available-for-sale U.S. Treasury $ 9,952 $ — $ (15 ) $ 9,937 $ — $ — $ — $ — U.S. Government sponsored entities and agencies 154,054 17 (4,122 ) 149,949 72,425 24 (606 ) 71,843 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 1,500,563 44 (50,853 ) 1,449,754 954,115 214 (19,407 ) 934,922 Commerical mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 174,331 15 (5,585 ) 168,761 116,448 4 (1,585 ) 114,867 Obligations of states and political subdivisions 187,501 1,445 (2,295 ) 186,651 102,363 2,927 (460 ) 104,830 Corporate debt securities 43,259 160 (239 ) 43,180 35,234 228 (59 ) 35,403 Total available-for-sale $ 2,069,660 $ 1,681 $ (63,109 ) $ 2,008,232 $ 1,280,585 $ 3,397 $ (22,117 ) $ 1,261,865 Held-to-maturity U.S. Government sponsored entities and agencies $ 11,699 $ — $ (615 ) $ 11,084 $ 11,465 $ — $ (325 ) $ 11,140 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 154,018 103 (6,788 ) 147,333 170,025 544 (2,609 ) 167,960 Obligations of states and political subdivisions 826,514 6,434 (9,743 ) 823,205 794,655 17,364 (1,609 ) 810,410 Corporate debt securities 33,307 5 (573 ) 32,739 33,355 919 — 34,274 Total held-to-maturity $ 1,025,538 $ 6,542 $ (17,719 ) $ 1,014,361 $ 1,009,500 $ 18,827 $ (4,543 ) $ 1,023,784 Total debt securities $ 3,095,198 $ 8,223 $ (80,828 ) $ 3,022,593 $ 2,290,085 $ 22,224 $ (26,660 ) $ 2,285,649 |
Schedule of Fair Value of Available-for-sale and Held-to-maturity Debt Securities by Contractual Maturity | The following table presents the fair value of available-for-sale held-to-maturity September 30, 2018 (unaudited, in thousands) One Year One to Five to After Mortgage-backed Total Available-for-sale U.S. Treasury $ 9,937 $ — $ — $ — $ — $ 9,937 U.S. Government sponsored entities and agencies 10,479 6,260 17,881 15,298 100,031 149,949 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 1,449,754 1,449,754 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 168,761 168,761 Obligations of states and political subdivisions 9,288 48,959 76,972 51,432 — 186,651 Corporate debt securities 8,014 33,251 1,915 — — 43,180 Total available-for-sale $ 37,718 $ 88,470 $ 96,768 $ 66,730 $ 1,718,546 $ 2,008,232 Held-to-maturity U.S. Government sponsored entities and agencies $ — $ — $ — $ — $ 11,084 $ 11,084 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies (1) — — — — 147,333 147,333 Obligations of states and political subdivisions 6,149 138,709 387,775 290,572 — 823,205 Corporate debt securities — 7,449 25,290 — — 32,739 Total held-to-maturity $ 6,149 $ 146,158 $ 413,065 $ 290,572 $ 158,417 $ 1,014,361 Total debt securities $ 43,867 $ 234,628 $ 509,833 $ 357,302 $ 1,876,963 $ 3,022,593 (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) The held-to-maturity |
Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities as well as Gains and Losses on Equity Securities | The following table presents the gross realized gains and losses on sales and calls of available-for-sale held-to-maturity For the Three Months Ended For the Nine Months Ended (unaudited, in thousands) 2018 2017 2018 2017 Debt securities: Gross realized gains $ 88 $ 29 $ 100 $ 603 Gross realized losses (13 ) (23 ) (31 ) (92 ) Net gains on debt securities $ 75 $ 6 $ 69 $ 511 Equity securities: Unrealized gains recognized on securities still held $ 11 $ — $ 330 $ — Net realized (losses) gains recognized on securities sold (2 ) — 4 — Net gains on equity securities $ 9 $ — $ 334 $ — Net securities gains $ 84 $ 6 $ 403 $ 511 |
Schedule of Unrealized Losses on Debt Securities | The following tables provide information on unrealized losses on debt securities that have been in an unrealized loss position for less than twelve months and twelve months or more as of September 30, 2018 and December 31, 2017: September 30, 2018 Less than 12 months 12 months or more Total (unaudited, dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Treasury $ 9,937 $ (15 ) 1 $ — $ — — $ 9,937 $ (15 ) 1 U.S. Government sponsored entities and agencies 93,881 (2,264 ) 38 60,410 (2,473 ) 11 154,291 (4,737 ) 49 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 759,415 (13,670 ) 188 822,774 (43,971 ) 260 1,582,189 (57,641 ) 448 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 79,056 (1,239 ) 15 86,703 (4,346 ) 11 165,759 (5,585 ) 26 Obligations of states and political subdivisions 493,252 (7,866 ) 855 120,843 (4,172 ) 236 614,095 (12,038 ) 1091 Corporate debt securities 42,816 (738 ) 17 1,915 (74 ) 1 44,731 (812 ) 18 Total temporarily impaired securities $ 1,478,357 $ (25,792 ) 1,114 $ 1,092,645 $ (55,036 ) 519 $ 2,571,002 $ (80,828 ) 1,633 December 31, 2017 Less than 12 months 12 months or more Total (unaudited, dollars in thousands) Fair Unrealized # of Fair Unrealized # of Fair Unrealized # of U.S. Government sponsored entities and agencies $ 24,776 $ (160 ) 4 $ 42,248 $ (771 ) 8 $ 67,024 $ (931 ) 12 Residential mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 423,794 (5,039 ) 87 637,461 (16,977 ) 193 1,061,255 (22,016 ) 280 Commercial mortgage-backed securities and collateralized mortgage obligations of government sponsored entities and agencies 79,061 (1,089 ) 10 27,852 (496 ) 6 106,913 (1,585 ) 16 Obligations of states and political subdivisions 132,831 (852 ) 210 77,554 (1,217 ) 160 210,385 (2,069 ) 370 Corporate debt securities 4,015 (19 ) 1 1,948 (40 ) 1 5,963 (59 ) 2 Total temporarily impaired securities $ 664,477 $ (7,159 ) 312 $ 787,063 $ (19,501 ) 368 $ 1,451,540 $ (26,660 ) 680 |
Loans and the Allowance for C_2
Loans and the Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 net deferred loan costs were $2.8 million and $1.6 million at September 30, 2018 and December 31, 2017, respectively. The unamortized discount on purchased portfolio loans from acquisitions was $54.3 million, including $6.7 million related to FTSB and $25.9 million related to FFKT, and $21.9 million at September 30, 2018 and December 31, 2017, respectively. (unaudited, in thousands) September 30, December 31, Commercial real estate: Land and construction $ 538,922 $ 392,597 Improved property 3,367,299 2,601,851 Total commercial real estate 3,906,221 2,994,448 Commercial and industrial 1,292,073 1,125,327 Residential real estate 1,598,477 1,353,301 Home equity 604,106 529,196 Consumer 325,546 339,169 Total portfolio loans 7,726,423 6,341,441 Loans held for sale 55,913 20,320 Total loans $ 7,782,336 $ 6,361,761 |
Summary of Changes in Allowance for Credit Losses | The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio: Allowance for Credit Losses By Category For the Nine Months Ended September 30, 2018 and 2017 (unaudited, in thousands) Commercial Commercial Real Estate - Commercial Residential Home Consumer Deposit Total Balance at December 31, 2017: Allowance for loan losses $ 3,117 $ 21,166 $ 9,414 $ 3,206 $ 4,497 $ 3,063 $ 821 $ 45,284 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total beginning allowance for credit losses 3,236 21,192 9,587 3,213 4,709 3,100 821 45,858 Provision for credit losses: Provision for loan losses 789 (721 ) 2,538 1,106 (292 ) 541 840 4,801 Provision for loan commitments 67 (3 ) 32 2 9 3 — 110 Total provision for credit losses 856 (724 ) 2,570 1,108 (283 ) 544 840 4,911 Charge-offs (137 ) (719 ) (871 ) (873 ) (745 ) (2,465 ) (941 ) (6,751 ) Recoveries 400 1,098 970 336 830 1,657 277 5,568 Net charge-offs 263 379 99 (537 ) 85 (808 ) (664 ) (1,183 ) Balance at September 30, 2018: Allowance for loan losses 4,169 20,824 12,051 3,775 4,290 2,796 997 48,902 Allowance for loan commitments 186 23 205 9 221 40 — 684 Total ending allowance for credit losses $ 4,355 $ 20,847 $ 12,256 $ 3,784 $ 4,511 $ 2,836 $ 997 $ 49,586 Balance at December 31, 2016: 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 beginning allowance for credit losses 4,499 18,645 8,600 4,115 3,584 4,042 760 44,245 Provision for credit losses: Provision for loan losses 415 1,619 2,842 (203 ) 1,259 922 680 7,534 Provision for loan commitments (18 ) 4 45 — 49 (4 ) — 76 Total provision for credit losses 397 1,623 2,887 (203 ) 1,308 918 680 7,610 Charge-offs — (1,752 ) (2,255 ) (797 ) (372 ) (2,877 ) (947 ) (9,000 ) Recoveries 89 492 649 266 180 1,336 267 3,279 Net charge-offs 89 (1,260 ) (1,606 ) (531 ) (192 ) (1,541 ) (680 ) (5,721 ) Balance at September 30, 2017: Allowance for loan losses 4,852 18,987 9,648 3,372 4,489 3,379 760 45,487 Allowance for loan commitments 133 21 233 9 211 40 — 647 Total ending allowance for credit losses $ 4,985 $ 19,008 $ 9,881 $ 3,381 $ 4,700 $ 3,419 $ 760 $ 46,134 |
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 (unaudited, in thousands) Commercial Commercial Commercial Residential Estate Home Consumer Deposit Total September 30, 2018 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — Allowance for loans collectively evaluated for impairment 4,169 20,824 12,051 3,775 4,290 2,796 997 48,902 Allowance for loan commitments 186 23 205 9 221 40 — 684 Total allowance for credit losses $ 4,355 $ 20,847 $ 12,256 $ 3,784 $ 4,511 $ 2,836 $ 997 $ 49,586 Portfolio loans: Individually evaluated for impairment (1) $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 537,699 3,361,315 1,291,296 1,595,547 604,106 325,419 — 7,715,382 Acquired with deteriorated credit quality 1,223 5,984 777 2,930 — 127 — 11,041 Total portfolio loans $ 538,922 $ 3,367,299 $ 1,292,073 $ 1,598,477 $ 604,106 $ 325,546 $ — $ 7,726,423 December 31, 2017 Allowance for credit losses: Allowance for loans individually evaluated for impairment $ — $ 388 $ — $ — $ — $ — $ — $ 388 Allowance for loans collectively evaluated for impairment 3,117 20,778 9,414 3,206 4,497 3,063 821 44,896 Allowance for loan commitments 119 26 173 7 212 37 — 574 Total allowance for credit losses $ 3,236 $ 21,192 $ 9,587 $ 3,213 $ 4,709 $ 3,100 $ 821 $ 45,858 Portfolio loans: Individually evaluated for impairment (1) $ — $ 3,344 $ — $ — $ — $ — $ — $ 3,344 Collectively evaluated for impairment 391,140 2,593,393 1,124,544 1,352,587 529,196 339,163 — 6,330,023 Acquired with deteriorated credit quality 1,457 5,114 783 714 — 6 — 8,074 Total portfolio loans $ 392,597 $ 2,601,851 $ 1,125,327 $ 1,353,301 $ 529,196 $ 339,169 $ — $ 6,341,441 (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 (unaudited, in thousands) Commercial Commercial Commercial Total As of September 30, 2018 Pass $ 533,982 $ 3,314,324 $ 1,272,181 $ 5,120,487 Criticized—compromised 2,909 31,399 12,062 46,370 Classified—substandard 2,031 21,576 7,830 31,437 Classified—doubtful — — — — Total $ 538,922 $ 3,367,299 $ 1,292,073 $ 5,198,294 As of December 31, 2017 Pass $ 386,753 $ 2,548,805 $ 1,110,267 $ 4,045,825 Criticized—compromised 2,984 25,673 7,435 36,092 Classified—substandard 2,860 27,373 7,625 37,858 Classified—doubtful — — — — Total $ 392,597 $ 2,601,851 $ 1,125,327 $ 4,119,775 |
Summary of Changes in Accretable Yield for Loans Acquired with Deteriorated Credit Quality | The following table provides changes in accretable yield for loans acquired with deteriorated credit quality: For the Nine Months Ended (unaudited, in thousands) September 30, September 30, Balance at beginning of period $ 1,724 $ 1,717 Acquisitions 695 — Reduction due to change in projected cash flows (86 ) — Reclass from non-accretable difference 6,287 1,490 Transfers out — (216 ) Accretion (902 ) (1,384 ) Balance at end of period $ 7,718 $ 1,607 |
Summary of Age Analysis of Loan Categories | The following tables summarize the age analysis of all categories of loans: Age Analysis of Loans (unaudited, in thousands) Current 30-59 Days 60-89 Days 90 Days Total Total Loans 90 Days As of September 30, 2018 Commercial real estate: Land and construction $ 538,181 $ 643 $ 98 $ — $ 741 $ 538,922 $ — Improved property 3,357,883 1,657 352 7,407 9,416 3,367,299 88 Total commercial real estate 3,896,064 2,300 450 7,407 10,157 3,906,221 88 Commercial and industrial 1,287,693 776 462 3,142 4,380 1,292,073 114 Residential real estate 1,579,164 8,100 2,708 8,505 19,313 1,598,477 1,225 Home equity 596,477 2,871 1,002 3,756 7,629 604,106 646 Consumer 322,093 2,291 605 557 3,453 325,546 378 Total portfolio loans 7,681,491 16,338 5,227 23,367 44,932 7,726,423 2,451 Loans held for sale 55,913 — — — — 55,913 — Total loans $ 7,737,404 $ 16,338 $ 5,227 $ 23,367 $ 44,932 $ 7,782,336 $ 2,451 Impaired loans included above are as follows: Non-accrual $ 7,480 $ 1,653 $ 1,225 $ 20,916 $ 23,794 $ 31,274 TDRs accruing interest (1) 5,667 314 357 — 671 6,338 Total impaired $ 13,147 $ 1,967 $ 1,582 $ 20,916 $ 24,465 $ 37,612 As of December 31, 2017 Commercial real estate: Land and construction $ 392,189 $ — $ 172 $ 236 $ 408 $ 392,597 $ — Improved property 2,589,704 374 1,200 10,573 12,147 2,601,851 243 Total commercial real estate 2,981,893 374 1,372 10,809 12,555 2,994,448 243 Commercial and industrial 1,121,957 572 196 2,602 3,370 1,125,327 20 Residential real estate 1,338,240 4,487 2,376 8,198 15,061 1,353,301 1,113 Home equity 522,584 2,135 683 3,794 6,612 529,196 742 Consumer 334,723 2,466 842 1,138 4,446 339,169 608 Total portfolio loans 6,299,397 10,034 5,469 26,541 42,044 6,341,441 2,726 Loans held for sale 20,320 — — — — 20,320 — Total loans $ 6,319,717 $ 10,034 $ 5,469 $ 26,541 $ 42,044 $ 6,361,761 $ 2,726 Impaired loans included above are as follows: Non-accrual $ 9,195 $ 1,782 $ 2,033 $ 23,815 $ 27,630 $ 36,825 TDRs accruing interest (1) 6,055 348 168 — 516 6,571 Total impaired $ 15,250 $ 2,130 $ 2,201 $ 23,815 $ 28,146 $ 43,396 (1) Loans 90 days or more past due and accruing interest exclude TDRs 90 days or more past due and accruing interest. |
Summary of Impaired Loans | The following tables summarize impaired loans: Impaired Loans September 30, 2018 December 31, 2017 (unaudited, in thousands) Unpaid Recorded Related Unpaid Recorded Related With no related specific allowance recorded: Commercial real estate: Land and construction $ — $ $ — $ 412 $ 239 $ — Improved property 14,639 9,928 — 18,229 12,863 — Commercial and industrial 3,886 3,327 — 3,745 3,086 — Residential real estate 21,226 18,944 — 20,821 18,982 — Home equity 5,550 4,728 — 5,833 5,169 — Consumer 857 685 — 1,084 952 — Total impaired loans without a specific allowance 46,158 37,612 — 50,124 41,291 — With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — Improved property — — — 2,105 2,105 388 Commercial and industrial — — — — — — Total impaired loans with a specific allowance — — — 2,105 2,105 388 Total impaired loans $ 46,158 $ 37,612 $ — $ 52,229 $ 43,396 $ 388 (1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off Impaired Loans For the Three Months Ended For the Nine Months Ended September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017 (unaudited, in thousands) Average Interest Average Interest Average Interest Average Interest With no related specific allowance recorded: Commercial real estate: Land and construction $ — $ — $ 444 $ — $ 260 $ — $ 516 $ — Improved Property 10,409 15 10,923 31 11,000 383 10,271 400 Commercial and industrial 3,181 5 3,588 2 2,985 9 3,700 6 Residential real estate 18,336 68 17,039 57 18,207 195 17,743 192 Home equity 4,924 8 4,727 4 4,997 19 4,456 14 Consumer 692 3 731 2 776 8 746 5 Total impaired loans without a specific allowance 37,542 99 37,452 96 38,225 614 37,432 617 With a specific allowance recorded: Commercial real estate: Land and construction — — — — — — — — Improved Property — — 5,137 — 1,052 — 5,032 — Commercial and industrial — — — — — — 318 — Total impaired loans with a specific allowance — — 5,137 — 1,052 — 5,350 — Total impaired loans $ 37,542 $ 99 $ 42,589 $ 96 $ 39,277 $ 614 $ 42,782 $ 617 |
Recorded Investment in Non-Accrual Loans and TDRs | The following tables present the recorded investment in non-accrual Non-accrual (unaudited, in thousands) September 30, December 31, Commercial real estate: Land and construction $ — $ 239 Improved property 8,757 13,318 Total commercial real estate 8,757 13,557 Commercial and industrial 3,165 2,958 Residential real estate 14,475 14,661 Home equity 4,283 4,762 Consumer 594 887 Total $ 31,274 $ 36,825 (1) At September 30, 2018, there was one borrower with a loan greater than $1.0 million totaling $3.4 million, as compared to three borrowers with loans greater than $1.0 million totaling $6.8 million at December 31, 2017. Total non-accrual non-accrual TDRs September 30, 2018 December 31, 2017 (unaudited, in thousands) Accruing Non-Accrual Total Accruing Non-Accrual Total Commercial real estate: Land and construction $ — $ — $ — $ — $ 3 $ 3 Improved property 1,171 640 1,811 1,650 428 2,078 Total commercial real estate 1,171 640 1,811 1,650 431 2,081 Commercial and industrial 162 — 162 128 97 225 Residential real estate 4,469 1,182 5,651 4,321 1,880 6,201 Home equity 445 167 612 407 337 744 Consumer 91 47 138 65 120 185 Total $ 6,338 $ 2,036 $ 8,374 $ 6,571 $ 2,865 $ 9,436 As of September 30, 2018 and December 31, 2017, there were no TDRs greater than $1.0 million. The concessions granted in the majority of loans reported as accruing and non-accrual |
Loans Identified as TDRs | The following tables present details related to loans identified as TDRs during the three and nine months ended September 30, 2018 and 2017, respectively: New TDRs (1) For the Three Months Ended September 30, 2018 September 30, 2017 (unaudited, dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved Property — — — 1 190 185 Total commercial real estate — — — 1 190 185 Commercial and industrial — — — — — — Residential real estate — — — — — — Home equity — — — 2 94 88 Consumer 1 19 18 1 7 6 Total 1 $ 19 $ 18 4 $ 291 $ 279 (1) Excludes loans that were either paid off or charged-off pre-modification New TDRs (1) For the Nine Months Ended September 30, 2018 September 30, 2017 (unaudited, dollars in thousands) Number of Pre- Post- Number of Pre- Post- Commercial real estate: Land and construction — $ — $ — — $ — $ — Improved Property — — — 1 190 185 Total commercial real estate — — — 1 190 185 Commercial and industrial 1 10 8 1 64 59 Residential real estate 5 203 176 2 22 17 Home equity 1 20 19 3 141 132 Consumer 4 65 52 4 42 33 Total 11 $ 298 $ 255 11 $ 459 $ 426 (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 nine months ended September 30, 2018 and 2017, respectively, that were restructured within the last twelve months prior to September, 2018 and 2017, respectively: Defaulted TDRs (1) For the Nine Months Ended September 30, 2018 September 30, 2017 (unaudited, dollars in thousands) Number of Recorded Number of Recorded Commercial real estate: Land and construction — $ — — $ — Improved property — — — — Total commercial real estate — — — — Commercial and industrial — — — — Residential real estate 2 172 1 7 Home equity 1 6 — — Consumer — — 1 7 Total 3 $ 178 2 $ 14 (1) Excludes loans that were either charged-off |
Summary of Other Real Estate Owned and Repossessed Assets | The following table summarizes other real estate owned and repossessed assets included in other assets: September 30, 2018 December 31, 2017 (unaudited, in thousands) Other real estate owned $ 6,836 $ 5,195 Repossessed assets 41 102 Total other real estate owned and repossessed assets $ 6,877 $ 5,297 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
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 September 30, 2018 and December 31, 2017: September 30, 2018 December 31, 2017 (unaudited, in thousands) Notional or Asset Liability Notional or Asset Liability Derivatives Loan Swaps: Interest rate swaps $ 234,363 $ 6,451 $ 6,527 $ 298,223 $ 7,351 $ 7,345 Other contracts: Interest rate loan commitments 27,795 32 — 20,319 49 — Forward TBA contracts 32,000 148 — 31,750 — 23 Total derivatives $ 6,631 $ 6,527 $ 7,400 $ 7,368 |
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 Three Months Ended For the Nine Months Ended (unaudited, in thousands) Location of Gain/(Loss) 2018 2017 2018 2017 Interest rate swaps Other income $ (293 ) $ (32 ) $ (82 ) $ (335 ) Interest rate loan commitments Mortgage banking income (111 ) — 32 123 Forward TBA contracts Mortgage banking income 131 — 530 — Total $ (273 ) $ (32 ) $ 480 $ (212 ) |
Pension Plan (Tables)
Pension Plan (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Components of Net Periodic Pension Cost | The following table presents the net periodic pension cost for WesBanco’s Defined Benefit Pension Plan (the “Plan”) and the related components: For the Three Months Ended For the Nine Months Ended (unaudited, in thousands) 2018 2017 2018 2017 Service cost – benefits earned during year $ 715 $ 650 $ 2,121 $ 1,929 Interest cost on projected benefit obligation 1,242 1,107 3,684 3,287 Expected return on plan assets (2,416 ) (1,928 ) (7,169 ) (5,721 ) Amortization of prior service cost 6 7 19 19 Amortization of net loss 766 812 2,274 2,409 Net periodic pension cost $ 313 $ 648 $ 929 $ 1,923 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Assets and Liabilities Measured on Recurring and Nonrecurring Basis | The following tables set forth WesBanco’s financial assets and liabilities that were accounted for at fair value on a recurring and nonrecurring basis by level within the fair value hierarchy as of September 30, 2018 and December 31, 2017: September 30, 2018 Fair Value Measurements Using: (unaudited, in thousands) September 30, Quoted Prices in Significant Significant Investments Recurring fair value measurements Equity securities $ 12,784 $ 12,784 $ — $ — $ — Debt securities—available-for-sale U.S. Treasury 9,937 — 9,937 — — U.S. Government sponsored entities and agencies 149,949 — 149,949 — — Residential mortgage-backed securities and 1,449,754 — 1,449,754 — — Commercial mortgage-backed securities and 168,761 — 168,761 — — Obligations of state and political subdivisions 186,651 — 185,125 1,526 — Corporate debt securities 43,180 — 43,180 — — Total debt securities—available-for-sale $ 2,008,232 $ — $ 2,006,706 $ 1,526 $ — Loans held for sale 55,913 — 55,913 — — Other assets—interest rate derivatives agreements 6,451 — 6,451 — — Total assets recurring fair value measurements $ 2,083,380 $ 12,784 $ 2,069,070 $ 1,526 $ — Other liabilities—interest rate derivatives agreements $ 6,527 $ — $ 6,527 $ — $ — Total liabilities recurring fair value measurements $ 6,527 $ — $ 6,527 $ — $ — Nonrecurring fair value measurements Impaired loans $ — $ — $ — $ — $ — Other real estate owned and repossessed assets 6,877 — — 6,877 — Total nonrecurring fair value measurements $ 6,877 $ — $ — $ 6,877 $ — December 31, 2017 Fair Value Measurements Using: (unaudited, in thousands) December 31, Quoted Prices in Significant Significant Investments Recurring fair value measurements Equity securities $ 13,457 $ 11,391 $ — $ — $ 2,066 Debt securities—available-for-sale U.S. Government sponsored entities and agencies 71,843 — 71,843 — — Residential mortgage-backed securities and 934,922 — 934,922 — — Commercial mortgage-backed securities and 114,867 — 114,867 — — Obligations of state and political subdivisions 104,830 — 104,830 — — Corporate debt securities 35,403 — 35,403 — — Total debt securities—available-for-sale $ 1,261,865 $ — $ 1,261,865 $ — $ — Loans held for sale 20,320 — 20,320 — — Other assets—interest rate derivatives agreements 7,351 — 7,351 — — Total assets recurring fair value measurements $ 1,302,993 $ 11,391 $ 1,289,536 $ — $ 2,066 Other liabilities—interest rate derivatives agreements $ 7,345 $ — $ 7,345 $ — $ — Total liabilities recurring fair value measurements $ 7,345 $ — $ 7,345 $ — $ — Nonrecurring fair value measurements Impaired loans $ 1,717 $ — $ — $ 1,717 $ — Other real estate owned and repossessed assets 5,297 — — 5,297 — Total nonrecurring fair value measurements $ 7,014 $ — $ — $ 7,014 $ — |
Schedule of Assets Measured at Fair Value on Nonrecurring Basis | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which WesBanco has utilized level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements (unaudited, in thousands) Fair Value Valuation Unobservable Range (Weighted September 30, 2018 Impaired loans $ — Appraisal of collateral (1) Appraisal adjustments (2) — Liquidation expenses (2) — Other real estate owned and repossessed assets 6,877 Appraisal of collateral (1), (3) December 31, 2017: Impaired loans $ 1,717 Appraisal of collateral (1) Appraisal adjustments (2) (4.8%) / (4.8 %) Liquidation expenses (2) (7.6%) / (7.6 %) Other real estate owned and repossessed assets 5,297 Appraisal of collateral (1), (3) (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of appraisal adjustments and liquidation expenses are presented as a percent of the appraisal. (3) Includes estimated liquidation expenses and numerous dissimilar qualitative adjustments by management which are not identifiable. |
Estimates Fair Values of Financial Instruments | The estimated fair values of WesBanco’s financial instruments are summarized below: Fair Value Measurements at September 30, 2018 (unaudited, in thousands) Carrying Fair Value Quoted Prices in Significant Other Significant Investments Financial Assets Cash and due from banks $ 273,680 $ 273,680 $ 273,680 $ — $ — $ — Equity securities 12,784 12,784 12,784 — — — Debt securities available-for-sale 2,008,232 2,008,232 — 2,006,706 1,526 — Debt securities held-to-maturity 1,025,538 1,014,361 — 1,013,788 573 — Net loans 7,677,521 7,517,958 — — 7,517,958 — Loans held for sale 55,913 55,913 — 55,913 — — Other assets—interest rate derivatives 6,451 6,451 — 6,451 — — Accrued interest receivable 39,465 39,465 39,465 — — — Financial Liabilities Deposits 8,941,758 8,960,221 7,428,158 1,532,063 — — Federal Home Loan Bank borrowings 1,131,253 1,123,441 — 1,123,441 — — Other borrowings 294,281 294,285 292,290 1,995 — — Subordinated debt and junior subordinated debt 189,745 179,497 — 179,497 — — Other liabilities—interest rate derivatives 6,527 6,527 — 6,527 — — Accrued interest payable 6,623 6,623 6,623 — — — Fair Value Measurements at December 31, 2017 (unaudited, in thousands) Carrying Fair Value Quoted Prices in Significant Other Significant Investments Financial Assets Cash and due from banks $ 117,572 $ 117,572 $ 117,572 $ — $ — $ — Equity securities 13,457 13,457 11,391 — — 2,066 Debt securities available-for-sale 1,261,865 1,261,865 — 1,261,865 — — Debt securities held-to-maturity 1,009,500 1,023,784 — 1,023,191 593 — Net loans 6,296,157 6,212,823 — — 6,212,823 — Loans held for sale 20,320 20,320 — 20,320 — — Other assets—interest rate derivatives 7,351 7,351 — 7,351 — — Accrued interest receivable 29,728 29,728 29,728 — — — Financial Liabilities Deposits 7,043,588 7,053,536 5,766,531 1,287,005 — — Federal Home Loan Bank borrowings 948,203 944,706 — 944,706 — — Other borrowings 184,805 184,814 182,785 2,029 — — Subordinated debt and junior subordinated debt 164,327 146,484 — 146,484 — — Other liabilities—interest rate derivatives 7,345 7,345 — 7,345 — — Accrued interest payable 3,178 3,178 3,178 — — — |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Text Block [Abstract] | |
Summary of Revenue Recognition | The following table summarizes the point of revenue recognition and the income recognized for each of the revenue streams for the three and nine months ended September 30, 2018: (unaudited, in thousands) Point of Revenue Recognition For the Three For the Nine Revenue Streams Trust fees Trust account fees Over time $ 4,006 $ 11,856 WesMark fees Over time 2,259 6,664 Total trust fees 6,265 18,520 Service charges on deposits Commercial banking fees Over time 563 1,406 Personal service charges At a point in time & over time 5,750 14,876 Total service charges on deposits 6,313 16,282 Net securities brokerage revenue Annuity commissions At a point in time 1,326 3,836 Equity and debt security trades At a point in time 116 304 Managed money Over time 173 477 Trail commissions Over time 221 698 Total net securities brokerage revenue 1,836 5,315 Allotment fees (1) At a point in time & over time 311 311 Electronic banking fees At a point in time 6,139 16,697 Mortgage banking income At a point in time 1,521 4,297 Net gain or loss on sale of other real estate owned At a point in time 150 641 (1) Allotment fees are included in other non-interest |
Comprehensive Income_(Loss) (Ta
Comprehensive Income/(Loss) (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income | The activity in accumulated other comprehensive income for the nine months ended September 30, 2018 and 2017 is as follows: Accumulated Other Comprehensive Income/(Loss) (1) (unaudited, in thousands) Defined Unrealized Available-for-Sale Unrealized Gains Available-for-Sale to Held-to-Maturity Total Balance at December 31, 2017 $ (18,626 ) $ (13,250 ) $ 381 $ (31,495 ) Other comprehensive income before reclassifications — (33,013 ) — (33,013 ) Acquired FFKT Medical benefit plan 4,235 — — 4,235 Amounts reclassified from accumulated other comprehensive income 1,621 (9 ) (149 ) 1,463 Period change 5,856 (33,022 ) (149 ) (27,315 ) Adoption of Accounting Standard ASU 2016-01 (2) — (1,063 ) — (1,063 ) Balance at September 30, 2018 $ (12,770 ) $ (47,335 ) $ 232 $ (59,873 ) Balance at December 31, 2016 $ (17,758 ) $ (9,890 ) $ 522 $ (27,126 ) Other comprehensive income before reclassifications — 4,740 — 4,740 Amounts reclassified from accumulated other comprehensive income 1,679 35 (165 ) 1,549 Period change 1,679 4,775 (165 ) 6,289 Balance at September 30, 2017 $ (16,079 ) $ (5,115 ) $ 357 $ (20,837 ) (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 23% in 2018 and 37% in all prior periods. (2) See Note 1, Summary of Significant Accounting Policies for additional information about WesBanco’s adoption of ASU 2016-01. |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income | The following table provides details about amounts reclassified from accumulated other comprehensive income for the three and nine months ended September 30, 2018 and 2017, respectively: Details about Accumulated Other Comprehensive Income Components (unaudited, in thousands) For the Three For the Nine Affected Line Item in the Statement of 2018 2017 2018 2017 Securities available-for-sale (1) Net securities gains/losses reclassified into earnings $ (11 ) $ — $ (11 ) $ 55 Net securities gains (Non-interest Related income tax benefit 2 — 2 (20 ) Provision for income taxes Net effect on accumulated other comprehensive income for the period (9 ) — (9 ) 35 Securities held-to-maturity (1) Amortization of unrealized gain transferred from available-for-sale (64 ) (66 ) (195 ) (256 ) Interest and dividends on securities (Interest and dividend income) Related income tax expense 15 24 46 91 Provision for income taxes Net effect on accumulated other comprehensive income for the period (49 ) (42 ) (149 ) (165 ) Defined benefit plans (2) Amortization of net loss and prior service costs 772 816 2,293 2,429 Employee benefits (Non-interest Related income tax benefit (177 ) (303 ) (672 ) (750 ) Provision for income taxes Net effect on accumulated other comprehensive income for the period 595 513 1,621 1,679 Total reclassifications for the period $ 537 $ 471 $ 1,463 $ 1,549 (1) For additional detail related to unrealized gains on securities and related amounts reclassified from accumulated other comprehensive income, see Note 4, “Securities.” (2) Included in the computation of net periodic pension cost. See Note 7, “Pension and Other Post Retirement Benefits” for additional detail. |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding | The following table presents total commitments to extend credit, guarantees and various letters of credit outstanding: (unaudited, in thousands) September 30, December 31, Lines of credit $ 1,855,388 $ 1,452,697 Loans approved but not closed 349,173 245,644 Overdraft limits 154,221 126,671 Letters of credit 41,515 31,951 Contingent obligations and other guarantees 5,725 6,700 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Financial Information by Business Segment | Condensed financial information by business segment is presented below: (unaudited, in thousands) Community Trust and Consolidated For the Three Months ended September 30, 2018: Interest income $ 108,393 $ — $ 108,393 Interest expense 18,460 — 18,460 Net interest income 89,933 — 89,933 Provision for credit losses 1,035 — 1,035 Net interest income after provision for credit losses 88,898 — 88,898 Non-interest 19,959 6,265 26,224 Non-interest 72,378 3,742 76,120 Income before provision for income taxes 36,479 2,523 39,002 Provision for income taxes 5,986 530 6,516 Net income $ 30,493 $ 1,993 $ 32,486 For the Three Months ended September 30, 2017: Interest income $ 85,489 $ — $ 85,489 Interest expense 11,235 — 11,235 Net interest income 74,254 — 74,254 Provision for credit losses 2,516 — 2,516 Net interest income after provision for credit losses 71,738 — 71,738 Non-interest 15,541 5,358 20,899 Non-interest 52,355 3,399 55,754 Income before provision for income taxes 34,924 1,959 36,883 Provision for income taxes 9,744 783 10,527 Net income $ 25,180 $ 1,176 $ 26,356 For the Nine Months ended September 30, 2018: Interest income $ 293,596 $ — $ 293,596 Interest expense 48,127 — 48,127 Net interest income 245,469 — 245,469 Provision for credit losses 4,911 — 4,911 Net interest income after provision for credit losses 240,558 — 240,558 Non-interest 55,195 18,520 73,715 Non-interest 183,298 10,936 194,234 Income before provision for income taxes 112,455 7,584 120,039 Provision for income taxes 19,262 1,593 20,855 Net income $ 93,193 $ 5,991 $ 99,184 For the Nine Months ended September 30, 2017: Interest income $ 247,573 $ — $ 247,573 Interest expense 30,461 — 30,461 Net interest income 217,112 — 217,112 Provision for credit losses 7,610 — 7,610 Net interest income after provision for credit losses 209,502 — 209,502 Non-interest 48,833 17,073 65,906 Non-interest 156,102 9,921 166,023 Income before provision for income taxes 102,233 7,152 109,385 Provision for income taxes 27,940 2,861 30,801 Net income $ 74,293 $ 4,291 $ 78,584 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | Jan. 01, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Feb. 28, 2016 |
Summary Of Significant Accounting Policies [Line Items] | ||||||
Service cost component of defined benefit plan | $ 715 | $ 650 | $ 2,121 | $ 1,929 | ||
Accounting Standards Update 2016-01 [Member] | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Adjustment to retained earnings | $ 1,100 | |||||
Accounting Standards Update 2016-02 [Member] | Minimum [Member] | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Non-cancellable operating leases | $ 15,000 | |||||
Accounting Standards Update 2016-02 [Member] | Maximum [Member] | ||||||
Summary Of Significant Accounting Policies [Line Items] | ||||||
Non-cancellable operating leases | $ 20,000 |
Mergers and Acquisitions - Addi
Mergers and Acquisitions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Aug. 20, 2018 | Apr. 05, 2018 | Sep. 30, 2018 | Dec. 31, 2017 |
Business Acquisition [Line Items] | ||||
Total Assets | $ 12,599,479 | $ 9,816,178 | ||
Portfolio loans, net of unearned income | 7,726,423 | $ 6,341,441 | ||
First Sentry Bancshares, Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Total Assets | $ 705,600 | |||
Portfolio loans, net of unearned income | 448,100 | |||
Securities | 142,903 | |||
Value of acquisition | $ 108,322 | |||
Closing stock price | $ 42.96 | |||
Number of shares issued for acquisition | 2,498,761 | |||
Cash paid for acquisition | $ 975 | |||
Goodwill acquired | 66,849 | |||
Purchase price allocation in core deposit intangible | $ 8,078 | |||
Merger related expense | 5,500 | |||
Farmers Capital Bank Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Total Assets | $ 1,600,000 | |||
Portfolio loans, net of unearned income | 1,000,000 | |||
Securities | 239,321 | |||
Value of acquisition | $ 428,901 | |||
Closing stock price | $ 49.40 | |||
Number of shares issued for acquisition | 7,920,387 | |||
Cash paid for acquisition | $ 37,634 | |||
Goodwill acquired | 225,092 | |||
Purchase price allocation in core deposit intangible | 42,593 | |||
Merger related expense | $ 11,000 | |||
Farmers Capital Bank Corporation [Member] | Community Banking Segment [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill acquired | 225,100 | |||
Purchase price allocation in core deposit intangible | 39,700 | |||
Farmers Capital Bank Corporation [Member] | Trust and Investment Services [Member] | Customer Relationships [Member] | ||||
Business Acquisition [Line Items] | ||||
Purchase price allocation in core deposit intangible | $ 2,900 |
Mergers and Acquisitions - Summ
Mergers and Acquisitions - Summary of Purchase Price of Acquisition and Resulting Goodwill (Detail) - USD ($) $ in Thousands | Aug. 20, 2018 | Apr. 05, 2018 |
First Sentry Bancshares, Inc. [Member] | ||
Purchase Price: | ||
Fair value of WesBanco shares issued | $ 107,347 | |
Cash consideration for outstanding shares | 975 | |
Total purchase price | 108,322 | |
Fair value of: | ||
Tangible assets acquired | 610,443 | |
Core deposit and other intangible assets acquired | 8,078 | |
Liabilities assumed | (664,172) | |
Net cash received in the acquisition | 87,124 | |
Fair value of net assets acquired | 41,473 | |
Goodwill recognized | $ 66,849 | |
Farmers Capital Bank Corporation [Member] | ||
Purchase Price: | ||
Fair value of WesBanco shares issued | $ 391,267 | |
Cash consideration for outstanding shares | 37,634 | |
Total purchase price | 428,901 | |
Fair value of: | ||
Tangible assets acquired | 1,360,951 | |
Core deposit and other intangible assets acquired | 42,593 | |
Liabilities assumed | (1,429,874) | |
Net cash received in the acquisition | 230,139 | |
Fair value of net assets acquired | 203,809 | |
Goodwill recognized | $ 225,092 |
Mergers and Acquisitions - Allo
Mergers and Acquisitions - Allocation of Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2018 | Aug. 20, 2018 | Jun. 30, 2018 | Apr. 05, 2018 | |
First Sentry Bancshares, Inc. [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and due from banks | $ 87,124 | |||
Securities | 142,903 | |||
Loans | 448,075 | |||
Goodwill and other intangible assets | 74,927 | |||
Accrued income and other assets | 19,465 | |||
Total assets acquired | 772,494 | |||
Liabilities assumed | ||||
Deposits | 590,065 | |||
Borrowings | 70,710 | |||
Accrued expenses and other liabilities | 3,397 | |||
Total liabilities assumed | 664,172 | |||
Fair value of net assets acquired | 41,473 | |||
Net assets acquired | $ 108,322 | |||
Purchase Price Allocation Adjustment [Member] | ||||
Business Acquisition [Line Items] | ||||
Loans | $ (264) | |||
Goodwill and other intangible assets | (159) | |||
Accrued income and other assets | (6) | |||
Liabilities assumed | ||||
Deposits | 47 | |||
Accrued expenses and other liabilities | (154) | |||
Fair value of net assets acquired | (630) | |||
Increase in goodwill recognized | 630 | |||
Goodwill recognized | $ 66,849 | $ 66,219 | ||
Farmers Capital Bank Corporation [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and due from banks | $ 230,139 | |||
Securities | 239,321 | |||
Loans | 1,028,120 | |||
Goodwill and other intangible assets | 267,685 | |||
Accrued income and other assets | 93,510 | |||
Total assets acquired | 1,858,775 | |||
Liabilities assumed | ||||
Deposits | 1,330,328 | |||
Borrowings | 71,780 | |||
Accrued expenses and other liabilities | 27,766 | |||
Total liabilities assumed | 1,429,874 | |||
Fair value of net assets acquired | 203,809 | |||
Net assets acquired | $ 428,901 |
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 | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Numerator for both basic and diluted earnings per common share: | ||||
Net income | $ 32,486 | $ 26,356 | $ 99,184 | $ 78,584 |
Denominator: | ||||
Total average basic common shares outstanding | 50,277,847 | 44,031,813 | 46,965,095 | 43,992,017 |
Effect of dilutive stock options and other stock compensation | 154,265 | 55,068 | 142,734 | 67,452 |
Total diluted average common shares outstanding | 50,432,112 | 44,086,881 | 47,107,829 | 44,059,469 |
Earnings per common share-basic | $ 0.65 | $ 0.60 | $ 2.11 | $ 1.79 |
Earnings per common share-diluted | $ 0.64 | $ 0.60 | $ 2.11 | $ 1.78 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | Aug. 20, 2018 | Apr. 05, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Shares contingently issuable under shareholder return plan | 45,840 | |||||
First Sentry Bancshares, Inc. [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Number of shares issued for acquisition | 2,498,761 | |||||
Number of shares granted to employees | 9,465 | |||||
Farmers Capital Bank Corporation [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Number of shares issued for acquisition | 7,920,387 | |||||
Number of shares granted to employees | 18,685 | |||||
Farmers Capital Bank Corporation [Member] | Treasury Stock [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Number of shares granted to employees | 6,690 | |||||
Restricted Stock [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Shares contingently issuable under shareholder return plan | 17,081 | 4,502 | 17,081 | 4,502 | ||
Stock Option [Member] | ||||||
Schedule Of Antidilutive Securities Included In Computation of Earnings Per Share [Line Items] | ||||||
Securities excluded from computation of net income per diluted shares | 117,550 | 117,600 |
Securities - Schedule of Fair V
Securities - Schedule of Fair Value and Amortized Cost of Available-for-sale and Held-to-maturity Debt Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | $ 2,069,660 | $ 1,280,585 |
Available-for-sale, Gross Unrealized Gains | 1,681 | 3,397 |
Available-for-sale, Gross Unrealized Losses | (63,109) | (22,117) |
Available-for-sale, Estimated Fair Value | 2,008,232 | 1,261,865 |
Held-to-maturity, Amortized Cost | 1,025,538 | 1,009,500 |
Held-to-maturity, Gross Unrealized Gains | 6,542 | 18,827 |
Held-to-maturity, Gross Unrealized Losses | (17,719) | (4,543) |
Held-to-maturity securities, Fair value | 1,014,361 | 1,023,784 |
Total securities, Amortized Cost | 3,095,198 | 2,290,085 |
Total securities, Gross Unrealized Gains | 8,223 | 22,224 |
Total securities, Gross Unrealized Losses | (80,828) | (26,660) |
Total securities, Estimated Fair Value | 3,022,593 | 2,285,649 |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 154,054 | 72,425 |
Available-for-sale, Gross Unrealized Gains | 17 | 24 |
Available-for-sale, Gross Unrealized Losses | (4,122) | (606) |
Available-for-sale, Estimated Fair Value | 149,949 | 71,843 |
Held-to-maturity, Amortized Cost | 11,699 | 11,465 |
Held-to-maturity, Gross Unrealized Losses | (615) | (325) |
Held-to-maturity securities, Fair value | 11,084 | 11,140 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 1,500,563 | 954,115 |
Available-for-sale, Gross Unrealized Gains | 44 | 214 |
Available-for-sale, Gross Unrealized Losses | (50,853) | (19,407) |
Available-for-sale, Estimated Fair Value | 1,449,754 | 934,922 |
Held-to-maturity, Amortized Cost | 154,018 | 170,025 |
Held-to-maturity, Gross Unrealized Gains | 103 | 544 |
Held-to-maturity, Gross Unrealized Losses | (6,788) | (2,609) |
Held-to-maturity securities, Fair value | 147,333 | 167,960 |
Obligations of State and Political Subdivisions [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 187,501 | 102,363 |
Available-for-sale, Gross Unrealized Gains | 1,445 | 2,927 |
Available-for-sale, Gross Unrealized Losses | (2,295) | (460) |
Available-for-sale, Estimated Fair Value | 186,651 | 104,830 |
Held-to-maturity, Amortized Cost | 826,514 | 794,655 |
Held-to-maturity, Gross Unrealized Gains | 6,434 | 17,364 |
Held-to-maturity, Gross Unrealized Losses | (9,743) | (1,609) |
Held-to-maturity securities, Fair value | 823,205 | 810,410 |
Corporate Debt Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 43,259 | 35,234 |
Available-for-sale, Gross Unrealized Gains | 160 | 228 |
Available-for-sale, Gross Unrealized Losses | (239) | (59) |
Available-for-sale, Estimated Fair Value | 43,180 | 35,403 |
Held-to-maturity, Amortized Cost | 33,307 | 33,355 |
Held-to-maturity, Gross Unrealized Gains | 5 | 919 |
Held-to-maturity, Gross Unrealized Losses | (573) | |
Held-to-maturity securities, Fair value | 32,739 | 34,274 |
US Treasury Securities [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 9,952 | |
Available-for-sale, Gross Unrealized Losses | (15) | |
Available-for-sale, Estimated Fair Value | 9,937 | |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Debt and Equity Securities, FV-NI [Line Items] | ||
Available-for-sale, Amortized Cost | 174,331 | 116,448 |
Available-for-sale, Gross Unrealized Gains | 15 | 4 |
Available-for-sale, Gross Unrealized Losses | (5,585) | (1,585) |
Available-for-sale, Estimated Fair Value | $ 168,761 | $ 114,867 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 9 Months Ended | ||
Sep. 30, 2018USD ($)Holdings | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($)Holdings | |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Maximum percentage of equity of one issuer | 10.00% | ||
Number of holdings greater than specified percentage of equity | Holdings | 0 | 0 | |
Equities securities | $ 12,784,000 | $ 13,457,000 | |
Securities with aggregate fair values | 1,900,000,000 | 1,400,000,000 | |
Net unrealized losses on available-for-sale debt securities included in AOCI | 47,300,000 | 13,300,000 | |
Sales of available-for-sale debt securities | 82,100,000 | $ 7,800,000 | |
Impairment loss relating to securities | 0 | ||
Federal home loan bank stock, Total | 53,800,000 | $ 45,900,000 | |
Grantor Trusts [Member] | |||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | |||
Equities securities | $ 8,500,000 |
Securities - Schedule of Fair_2
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | $ 37,718 | |
Total available-for-sale securities, One to Five Years | 88,470 | |
Total available-for-sale securities, Five to Ten Years | 96,768 | |
Total available-for-sale securities, After Ten Years | 66,730 | |
Total available-for-sale securities, Mortgage-backed | 1,718,546 | |
Available-for-sale, Estimated Fair Value | 2,008,232 | $ 1,261,865 |
Total held-to-maturity securities, One Year or less | 6,149 | |
Total held-to-maturity securities, One to Five Years | 146,158 | |
Total held-to-maturity securities, Five to Ten Years | 413,065 | |
Total held-to-maturity securities, After Ten Years | 290,572 | |
Total held-to-maturity securities, Mortgage-backed | 158,417 | |
Held-to-maturity securities, Fair value | 1,014,361 | 1,023,784 |
Total, One Year or less | 43,867 | |
Total, One to Five Years | 234,628 | |
Total, Five to Ten Years | 509,833 | |
Total, After Ten Years, Fair value | 357,302 | |
Total, Mortgage-backed | 1,876,963 | |
Total, Fair value | 3,022,593 | 2,285,649 |
US Treasury Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | 9,937 | |
Available-for-sale, Estimated Fair Value | 9,937 | |
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 | 10,479 | |
Total available-for-sale securities, One to Five Years | 6,260 | |
Total available-for-sale securities, Five to Ten Years | 17,881 | |
Total available-for-sale securities, After Ten Years | 15,298 | |
Total available-for-sale securities, Mortgage-backed | 100,031 | |
Available-for-sale, Estimated Fair Value | 149,949 | 71,843 |
Total held-to-maturity securities, Mortgage-backed | 11,084 | |
Held-to-maturity securities, Fair value | 11,084 | 11,140 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed | 1,449,754 | |
Available-for-sale, Estimated Fair Value | 1,449,754 | 934,922 |
Total held-to-maturity securities, Mortgage-backed | 147,333 | |
Held-to-maturity securities, Fair value | 147,333 | 167,960 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, Mortgage-backed | 168,761 | |
Available-for-sale, Estimated Fair Value | 168,761 | 114,867 |
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 | 9,288 | |
Total available-for-sale securities, One to Five Years | 48,959 | |
Total available-for-sale securities, Five to Ten Years | 76,972 | |
Total available-for-sale securities, After Ten Years | 51,432 | |
Available-for-sale, Estimated Fair Value | 186,651 | 104,830 |
Total held-to-maturity securities, One Year or less | 6,149 | |
Total held-to-maturity securities, One to Five Years | 138,709 | |
Total held-to-maturity securities, Five to Ten Years | 387,775 | |
Total held-to-maturity securities, After Ten Years | 290,572 | |
Held-to-maturity securities, Fair value | 823,205 | 810,410 |
Corporate Debt Securities [Member] | ||
Schedule Of Available For Sale Securities And Held To Maturity [Line Items] | ||
Total available-for-sale securities, One Year or less | 8,014 | |
Total available-for-sale securities, One to Five Years | 33,251 | |
Total available-for-sale securities, Five to Ten Years | 1,915 | |
Available-for-sale, Estimated Fair Value | 43,180 | 35,403 |
Total held-to-maturity securities, One to Five Years | 7,449 | |
Total held-to-maturity securities, Five to Ten Years | 25,290 | |
Held-to-maturity securities, Fair value | $ 32,739 | $ 34,274 |
Securities - Schedule of Fair_3
Securities - Schedule of Fair Value of Available-for-Sale and Held-to-Maturity Debt Securities by Contractual Maturity (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||
Held-to-maturity, Amortized Cost | $ 1,025,538 | $ 1,009,500 |
Securities - Schedule of Gross
Securities - Schedule of Gross Realized Gains and Losses on the Sales and Calls of Securities as well as Gains and Losses on Equity Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Available-for-Sale Securities, Gross Unrealized Gain (Loss) [Line Items] | ||||
Net securities gains | $ 84 | $ 6 | $ 403 | $ 511 |
Debt Securities [Member] | ||||
Available-for-Sale Securities, Gross Unrealized Gain (Loss) [Line Items] | ||||
Gross realized gains | 88 | 29 | 100 | 603 |
Gross realized losses | (13) | (23) | (31) | (92) |
Net gains on debt securities | 75 | $ 6 | 69 | $ 511 |
Equity Securities [Member] | ||||
Available-for-Sale Securities, Gross Unrealized Gain (Loss) [Line Items] | ||||
Unrealized gains recognized on securities still held | 11 | 330 | ||
Net realized (losses) gains recognized on securities sold | (2) | 4 | ||
Net gains on equity securities | $ 9 | $ 334 |
Securities - Schedule of Unreal
Securities - Schedule of Unrealized Losses on Debt Securities (Detail) $ in Thousands | Sep. 30, 2018USD ($)Security | Dec. 31, 2017USD ($)Security |
US Treasury Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 9,937 | |
Less than 12 months, Unrealized Losses | $ (15) | |
Less than 12 months, Number of Securities | Security | 1 | |
Fair Value, Total | $ 9,937 | |
Unrealized Losses, Total | $ (15) | |
Number of Securities Total | Security | 1 | |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 93,881 | $ 24,776 |
Less than 12 months, Unrealized Losses | $ (2,264) | $ (160) |
Less than 12 months, Number of Securities | Security | 38 | 4 |
12 months or more, Fair Value | $ 60,410 | $ 42,248 |
12 months or more, Unrealized Losses | $ (2,473) | $ (771) |
12 months or more, Number of Securities | Security | 11 | 8 |
Fair Value, Total | $ 154,291 | $ 67,024 |
Unrealized Losses, Total | $ (4,737) | $ (931) |
Number of Securities Total | Security | 49 | 12 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 759,415 | $ 423,794 |
Less than 12 months, Unrealized Losses | $ (13,670) | $ (5,039) |
Less than 12 months, Number of Securities | Security | 188 | 87 |
12 months or more, Fair Value | $ 822,774 | $ 637,461 |
12 months or more, Unrealized Losses | $ (43,971) | $ (16,977) |
12 months or more, Number of Securities | Security | 260 | 193 |
Fair Value, Total | $ 1,582,189 | $ 1,061,255 |
Unrealized Losses, Total | $ (57,641) | $ (22,016) |
Number of Securities Total | Security | 448 | 280 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 79,056 | $ 79,061 |
Less than 12 months, Unrealized Losses | $ (1,239) | $ (1,089) |
Less than 12 months, Number of Securities | Security | 15 | 10 |
12 months or more, Fair Value | $ 86,703 | $ 27,852 |
12 months or more, Unrealized Losses | $ (4,346) | $ (496) |
12 months or more, Number of Securities | Security | 11 | 6 |
Fair Value, Total | $ 165,759 | $ 106,913 |
Unrealized Losses, Total | $ (5,585) | $ (1,585) |
Number of Securities Total | Security | 26 | 16 |
Obligations of State and Political Subdivisions [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 493,252 | $ 132,831 |
Less than 12 months, Unrealized Losses | $ (7,866) | $ (852) |
Less than 12 months, Number of Securities | Security | 855 | 210 |
12 months or more, Fair Value | $ 120,843 | $ 77,554 |
12 months or more, Unrealized Losses | $ (4,172) | $ (1,217) |
12 months or more, Number of Securities | Security | 236 | 160 |
Fair Value, Total | $ 614,095 | $ 210,385 |
Unrealized Losses, Total | $ (12,038) | $ (2,069) |
Number of Securities Total | Security | 1,091 | 370 |
Corporate Debt Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 42,816 | $ 4,015 |
Less than 12 months, Unrealized Losses | $ (738) | $ (19) |
Less than 12 months, Number of Securities | Security | 17 | 1 |
12 months or more, Fair Value | $ 1,915 | $ 1,948 |
12 months or more, Unrealized Losses | $ (74) | $ (40) |
12 months or more, Number of Securities | Security | 1 | 1 |
Fair Value, Total | $ 44,731 | $ 5,963 |
Unrealized Losses, Total | $ (812) | $ (59) |
Number of Securities Total | Security | 18 | 2 |
Total Temporarily Impaired Securities [Member] | ||
Net Unrealized Gains And Losses On Investments [Line Items] | ||
Less than 12 months, Fair Value | $ 1,478,357 | $ 664,477 |
Less than 12 months, Unrealized Losses | $ (25,792) | $ (7,159) |
Less than 12 months, Number of Securities | Security | 1,114 | 312 |
12 months or more, Fair Value | $ 1,092,645 | $ 787,063 |
12 months or more, Unrealized Losses | $ (55,036) | $ (19,501) |
12 months or more, Number of Securities | Security | 519 | 368 |
Fair Value, Total | $ 2,571,002 | $ 1,451,540 |
Unrealized Losses, Total | $ (80,828) | $ (26,660) |
Number of Securities Total | Security | 1,633 | 680 |
Loans and the Allowance for C_3
Loans and the Allowance for Credit Losses - Additional Information (Detail) | Aug. 20, 2018USD ($) | Apr. 05, 2018USD ($) | Jun. 30, 2018USD ($) | Sep. 30, 2018USD ($)Contract | Dec. 31, 2017USD ($)Contract |
Financing Receivable, Recorded Investment [Line Items] | |||||
Deferred loan (costs) and fees | $ 2,800,000 | $ 1,600,000 | |||
Unamortized discount on purchased loans from acquisitions | 54,300,000 | 21,900,000 | |||
Aggregate amount of residential real estate, home equity and consumer loans classified as substandard | 20,600,000 | 22,800,000 | |||
Internally assigned loan grades to residential real estate, home equity and consumer loans | 2,200,000 | 2,500,000 | |||
Loans acquired with deteriorated credit quality | $ 11,041,000 | $ 8,074,000 | |||
Number of restructured contracts greater than $0 million | Contract | 0 | 0 | |||
Threshold for TDR | $ 1,000,000 | $ 1,000,000 | |||
Accruing and non accrual TDR permitted interest-only payment period | 3 months | ||||
Unfunded commitments to debtors for impaired loans | $ 200,000 | 100,000 | |||
Other real estate owned | 6,836,000 | 5,195,000 | |||
Commercial and Industrial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans acquired with deteriorated credit quality | 777,000 | 783,000 | |||
Maximum [Member] | Commercial and Industrial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Annual sales of borrowers | 100,000,000 | ||||
First Sentry Bancshares, Inc. [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Unamortized discount on purchased loans from acquisitions | 6,700,000 | ||||
Portfolio loans, net of unearned income | $ 465,900,000 | ||||
Fair value of acquired loans | 448,075,000 | ||||
Fair market value adjustment of acquired loans | 440,100,000 | ||||
Fair market value adjustment of acquired loans | 9,700,000 | ||||
Loans acquired with deteriorated credit quality | 4,100,000 | 1,700,000 | |||
Loans acquired with deteriorated credit quality, fair value | 2,000,000 | ||||
Loans acquired with deteriorated credit quality outstanding customer balance | 3,800,000 | ||||
Acquired impaired loans allowances for loan losses | 0 | ||||
Acquired loans, sold book value | $ 17,700,000 | 4,000,000 | |||
Acquired loans, transferred to loans held for sale fair value | 2,800,000 | ||||
Acquired loans, sold | $ 12,900,000 | ||||
First Sentry Bancshares, Inc. [Member] | Cost Recovery Method [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans acquired with deteriorated credit quality, fair value | $ 700,000 | ||||
Farmers Capital Bank Corporation [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Unamortized discount on purchased loans from acquisitions | 25,900,000 | ||||
Portfolio loans, net of unearned income | $ 1,064,800,000 | ||||
Fair value of acquired loans | 1,028,120,000 | ||||
Fair market value adjustment of acquired loans | 1,016,900,000 | ||||
Fair market value adjustment of acquired loans | 26,400,000 | ||||
Loans acquired with deteriorated credit quality | 2,700,000 | 2,100,000 | |||
Loans acquired with deteriorated credit quality, fair value | $ 2,400,000 | ||||
Loans acquired with deteriorated credit quality outstanding customer balance | 2,400,000 | ||||
Acquired impaired loans allowances for loan losses | 0 | ||||
Acquired loans, sold book value | 45,200,000 | ||||
Acquired loans, transferred to loans held for sale fair value | 35,200,000 | ||||
Residential Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Loans acquired with deteriorated credit quality | 2,930,000 | 714,000 | |||
Other real estate owned | 700,000 | 1,500,000 | |||
Foreclosure proceedings in process on residential real estate loans | $ 6,000,000 | $ 3,500,000 |
Loans and the Allowance for C_4
Loans and the Allowance for Credit Losses - Schedule of Recorded Investment in Loans by Category (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 7,726,423 | $ 6,341,441 |
Loans held for sale | 55,913 | 20,320 |
Total loans | 7,782,336 | 6,361,761 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 538,922 | 392,597 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 3,367,299 | 2,601,851 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,292,073 | 1,125,327 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 3,906,221 | 2,994,448 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 1,598,477 | 1,353,301 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | 325,546 | 339,169 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total portfolio loans | $ 604,106 | $ 529,196 |
Loans and the Allowance for C_5
Loans and the Allowance for Credit Losses - Summary of Changes in Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | $ 45,284 | $ 43,674 | ||
Allowance for loan commitments, beginning balance | 574 | 571 | ||
Total beginning allowance for credit losses | 45,858 | 44,245 | ||
Provision for loan losses | 4,801 | 7,534 | ||
Provision for loan commitments | 110 | 76 | ||
Total provision for credit losses | $ 1,035 | $ 2,516 | 4,911 | 7,610 |
Charge-offs | (6,751) | (9,000) | ||
Recoveries | 5,568 | 3,279 | ||
Net charge-offs | (1,183) | (5,721) | ||
Allowance for loan losses, ending balance | 48,902 | 45,487 | 48,902 | 45,487 |
Allowance for loan commitments, ending balance | 684 | 647 | 684 | 647 |
Total ending allowance for credit losses | 49,586 | 46,134 | 49,586 | 46,134 |
Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 3,117 | 4,348 | ||
Allowance for loan commitments, beginning balance | 119 | 151 | ||
Total beginning allowance for credit losses | 3,236 | 4,499 | ||
Provision for loan losses | 789 | 415 | ||
Provision for loan commitments | 67 | (18) | ||
Total provision for credit losses | 856 | 397 | ||
Charge-offs | (137) | |||
Recoveries | 400 | 89 | ||
Net charge-offs | 263 | 89 | ||
Allowance for loan losses, ending balance | 4,169 | 4,852 | 4,169 | 4,852 |
Allowance for loan commitments, ending balance | 186 | 133 | 186 | 133 |
Total ending allowance for credit losses | 4,355 | 4,985 | 4,355 | 4,985 |
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 21,166 | 18,628 | ||
Allowance for loan commitments, beginning balance | 26 | 17 | ||
Total beginning allowance for credit losses | 21,192 | 18,645 | ||
Provision for loan losses | (721) | 1,619 | ||
Provision for loan commitments | (3) | 4 | ||
Total provision for credit losses | (724) | 1,623 | ||
Charge-offs | (719) | (1,752) | ||
Recoveries | 1,098 | 492 | ||
Net charge-offs | 379 | (1,260) | ||
Allowance for loan losses, ending balance | 20,824 | 18,987 | 20,824 | 18,987 |
Allowance for loan commitments, ending balance | 23 | 21 | 23 | 21 |
Total ending allowance for credit losses | 20,847 | 19,008 | 20,847 | 19,008 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 9,414 | 8,412 | ||
Allowance for loan commitments, beginning balance | 173 | 188 | ||
Total beginning allowance for credit losses | 9,587 | 8,600 | ||
Provision for loan losses | 2,538 | 2,842 | ||
Provision for loan commitments | 32 | 45 | ||
Total provision for credit losses | 2,570 | 2,887 | ||
Charge-offs | (871) | (2,255) | ||
Recoveries | 970 | 649 | ||
Net charge-offs | 99 | (1,606) | ||
Allowance for loan losses, ending balance | 12,051 | 9,648 | 12,051 | 9,648 |
Allowance for loan commitments, ending balance | 205 | 233 | 205 | 233 |
Total ending allowance for credit losses | 12,256 | 9,881 | 12,256 | 9,881 |
Deposit Overdraft [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 821 | 760 | ||
Total beginning allowance for credit losses | 821 | 760 | ||
Provision for loan losses | 840 | 680 | ||
Total provision for credit losses | 840 | 680 | ||
Charge-offs | (941) | (947) | ||
Recoveries | 277 | 267 | ||
Net charge-offs | (664) | (680) | ||
Allowance for loan losses, ending balance | 997 | 760 | 997 | 760 |
Total ending allowance for credit losses | 997 | 760 | 997 | 760 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 3,206 | 4,106 | ||
Allowance for loan commitments, beginning balance | 7 | 9 | ||
Total beginning allowance for credit losses | 3,213 | 4,115 | ||
Provision for loan losses | 1,106 | (203) | ||
Provision for loan commitments | 2 | |||
Total provision for credit losses | 1,108 | (203) | ||
Charge-offs | (873) | (797) | ||
Recoveries | 336 | 266 | ||
Net charge-offs | (537) | (531) | ||
Allowance for loan losses, ending balance | 3,775 | 3,372 | 3,775 | 3,372 |
Allowance for loan commitments, ending balance | 9 | 9 | 9 | 9 |
Total ending allowance for credit losses | 3,784 | 3,381 | 3,784 | 3,381 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 3,063 | 3,998 | ||
Allowance for loan commitments, beginning balance | 37 | 44 | ||
Total beginning allowance for credit losses | 3,100 | 4,042 | ||
Provision for loan losses | 541 | 922 | ||
Provision for loan commitments | 3 | (4) | ||
Total provision for credit losses | 544 | 918 | ||
Charge-offs | (2,465) | (2,877) | ||
Recoveries | 1,657 | 1,336 | ||
Net charge-offs | (808) | (1,541) | ||
Allowance for loan losses, ending balance | 2,796 | 3,379 | 2,796 | 3,379 |
Allowance for loan commitments, ending balance | 40 | 40 | 40 | 40 |
Total ending allowance for credit losses | 2,836 | 3,419 | 2,836 | 3,419 |
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, beginning balance | 4,497 | 3,422 | ||
Allowance for loan commitments, beginning balance | 212 | 162 | ||
Total beginning allowance for credit losses | 4,709 | 3,584 | ||
Provision for loan losses | (292) | 1,259 | ||
Provision for loan commitments | 9 | 49 | ||
Total provision for credit losses | (283) | 1,308 | ||
Charge-offs | (745) | (372) | ||
Recoveries | 830 | 180 | ||
Net charge-offs | 85 | (192) | ||
Allowance for loan losses, ending balance | 4,290 | 4,489 | 4,290 | 4,489 |
Allowance for loan commitments, ending balance | 221 | 211 | 221 | 211 |
Total ending allowance for credit losses | $ 4,511 | $ 4,700 | $ 4,511 | $ 4,700 |
Loans and the Allowance for C_6
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | $ 388 | |||
Allowance for loans collectively evaluated for impairment | $ 48,902 | 44,896 | ||
Allowance for loan commitments | 684 | 574 | $ 647 | $ 571 |
Total allowance for credit losses | 49,586 | 45,858 | 46,134 | 44,245 |
Individually evaluated for impairment | 3,344 | |||
Collectively evaluated for impairment | 7,715,382 | 6,330,023 | ||
Acquired with deteriorated credit quality | 11,041 | 8,074 | ||
Total loans | 7,726,423 | 6,341,441 | ||
Commercial Real Estate - Land and Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,169 | 3,117 | ||
Allowance for loan commitments | 186 | 119 | 133 | 151 |
Total allowance for credit losses | 4,355 | 3,236 | 4,985 | 4,499 |
Collectively evaluated for impairment | 537,699 | 391,140 | ||
Acquired with deteriorated credit quality | 1,223 | 1,457 | ||
Total loans | 538,922 | 392,597 | ||
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans individually evaluated for impairment | 388 | |||
Allowance for loans collectively evaluated for impairment | 20,824 | 20,778 | ||
Allowance for loan commitments | 23 | 26 | 21 | 17 |
Total allowance for credit losses | 20,847 | 21,192 | 19,008 | 18,645 |
Individually evaluated for impairment | 3,344 | |||
Collectively evaluated for impairment | 3,361,315 | 2,593,393 | ||
Acquired with deteriorated credit quality | 5,984 | 5,114 | ||
Total loans | 3,367,299 | 2,601,851 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 12,051 | 9,414 | ||
Allowance for loan commitments | 205 | 173 | 233 | 188 |
Total allowance for credit losses | 12,256 | 9,587 | 9,881 | 8,600 |
Collectively evaluated for impairment | 1,291,296 | 1,124,544 | ||
Acquired with deteriorated credit quality | 777 | 783 | ||
Total loans | 1,292,073 | 1,125,327 | ||
Deposit Overdraft [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 997 | 821 | ||
Total allowance for credit losses | 997 | 821 | 760 | 760 |
Residential Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 3,775 | 3,206 | ||
Allowance for loan commitments | 9 | 7 | 9 | 9 |
Total allowance for credit losses | 3,784 | 3,213 | 3,381 | 4,115 |
Collectively evaluated for impairment | 1,595,547 | 1,352,587 | ||
Acquired with deteriorated credit quality | 2,930 | 714 | ||
Total loans | 1,598,477 | 1,353,301 | ||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 2,796 | 3,063 | ||
Allowance for loan commitments | 40 | 37 | 40 | 44 |
Total allowance for credit losses | 2,836 | 3,100 | 3,419 | 4,042 |
Collectively evaluated for impairment | 325,419 | 339,163 | ||
Acquired with deteriorated credit quality | 127 | 6 | ||
Total loans | 325,546 | 339,169 | ||
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loans collectively evaluated for impairment | 4,290 | 4,497 | ||
Allowance for loan commitments | 221 | 212 | 211 | 162 |
Total allowance for credit losses | 4,511 | 4,709 | $ 4,700 | $ 3,584 |
Collectively evaluated for impairment | 604,106 | 529,196 | ||
Total loans | $ 604,106 | $ 529,196 |
Loans and the Allowance for C_7
Loans and the Allowance for Credit Losses - Allowance for Credit Losses and Recorded Investments in Loans (Parenthetical) (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Receivables [Abstract] | ||
Troubled debt restructuring threshold | $ 1 | $ 1 |
Loans and the Allowance for C_8
Loans and the Allowance for Credit Losses - Summary of Commercial Loans by Risk Grade (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Summary of commercial loans by risk grade | ||
Commercial loans | $ 7,677,521 | $ 6,296,157 |
Commercial Portfolio Segment [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 5,198,294 | 4,119,775 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 5,120,487 | 4,045,825 |
Commercial Portfolio Segment [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 46,370 | 36,092 |
Commercial Portfolio Segment [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 31,437 | 37,858 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 538,922 | 392,597 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 533,982 | 386,753 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,909 | 2,984 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Land and Construction [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 2,031 | 2,860 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 3,367,299 | 2,601,851 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 3,314,324 | 2,548,805 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 31,399 | 25,673 |
Commercial Portfolio Segment [Member] | Commercial Real Estate - Improved Property [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 21,576 | 27,373 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,292,073 | 1,125,327 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Pass [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 1,272,181 | 1,110,267 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Criticized [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | 12,062 | 7,435 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | Classified - Substandard [Member] | ||
Summary of commercial loans by risk grade | ||
Commercial loans | $ 7,830 | $ 7,625 |
Loans and the Allowance for C_9
Loans and the Allowance for Credit Losses - Summary of Changes in Accretable Yield for Loans Acquired with Deteriorated Credit Quality (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period [Abstract] | ||
Balance at beginning of period | $ 1,724 | $ 1,717 |
Acquisitions | 695 | |
Reduction due to change in projected cash flows | (86) | |
Reclass from non-accretable difference | 6,287 | 1,490 |
Transfers out | (216) | |
Accretion | (902) | (1,384) |
Balance at end of period | $ 7,718 | $ 1,607 |
Loans and the Allowance for _10
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Current | $ 7,681,491 | $ 6,299,397 |
Total Past Due | 44,932 | 42,044 |
Total loans | 7,726,423 | 6,341,441 |
90 Days or More Past Due and Accruing | 2,451 | 2,726 |
Loans held for sale, current | 55,913 | 20,320 |
Loans held for sale | 55,913 | 20,320 |
Total loans, current | 7,737,404 | 6,319,717 |
Total loans | 7,782,336 | 6,361,761 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 596,477 | 522,584 |
Total Past Due | 7,629 | 6,612 |
Total loans | 604,106 | 529,196 |
90 Days or More Past Due and Accruing | 646 | 742 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 3,896,064 | 2,981,893 |
Total Past Due | 10,157 | 12,555 |
Total loans | 3,906,221 | 2,994,448 |
90 Days or More Past Due and Accruing | 88 | 243 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,579,164 | 1,338,240 |
Total Past Due | 19,313 | 15,061 |
Total loans | 1,598,477 | 1,353,301 |
90 Days or More Past Due and Accruing | 1,225 | 1,113 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 322,093 | 334,723 |
Total Past Due | 3,453 | 4,446 |
Total loans | 325,546 | 339,169 |
90 Days or More Past Due and Accruing | 378 | 608 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 538,181 | 392,189 |
Total Past Due | 741 | 408 |
Total loans | 538,922 | 392,597 |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 3,357,883 | 2,589,704 |
Total Past Due | 9,416 | 12,147 |
Total loans | 3,367,299 | 2,601,851 |
90 Days or More Past Due and Accruing | 88 | 243 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 1,287,693 | 1,121,957 |
Total Past Due | 4,380 | 3,370 |
Total loans | 1,292,073 | 1,125,327 |
90 Days or More Past Due and Accruing | 114 | 20 |
Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 7,480 | 9,195 |
Total Past Due | 23,794 | 27,630 |
Total loans | 31,274 | 36,825 |
TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 5,667 | 6,055 |
Total Past Due | 671 | 516 |
Total loans | 6,338 | 6,571 |
Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Current | 13,147 | 15,250 |
Total Past Due | 24,465 | 28,146 |
Total loans | 37,612 | 43,396 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 16,338 | 10,034 |
30-59 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,871 | 2,135 |
30-59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,300 | 374 |
30-59 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 8,100 | 4,487 |
30-59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,291 | 2,466 |
30-59 Days Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 643 | |
30-59 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,657 | 374 |
30-59 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 776 | 572 |
30-59 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,653 | 1,782 |
30-59 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 314 | 348 |
30-59 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,967 | 2,130 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 5,227 | 5,469 |
60-89 Days Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,002 | 683 |
60-89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 450 | 1,372 |
60-89 Days Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 2,708 | 2,376 |
60-89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 605 | 842 |
60-89 Days Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 98 | 172 |
60-89 Days Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 352 | 1,200 |
60-89 Days Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 462 | 196 |
60-89 Days Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,225 | 2,033 |
60-89 Days Past Due [Member] | TDRs Accruing Interest [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 357 | 168 |
60-89 Days Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 1,582 | 2,201 |
90 Days or More Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 23,367 | 26,541 |
90 Days or More Past Due [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,756 | 3,794 |
90 Days or More Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 7,407 | 10,809 |
90 Days or More Past Due [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 8,505 | 8,198 |
90 Days or More Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 557 | 1,138 |
90 Days or More Past Due [Member] | Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 236 | |
90 Days or More Past Due [Member] | Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 7,407 | 10,573 |
90 Days or More Past Due [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 3,142 | 2,602 |
90 Days or More Past Due [Member] | Non-Accrual Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | 20,916 | 23,815 |
90 Days or More Past Due [Member] | Total Impaired [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Past Due | $ 20,916 | $ 23,815 |
Loans and the Allowance for _11
Loans and the Allowance for Credit Losses - Summary of Age Analysis of Loan Categories (Parenthetical) (Detail) | 9 Months Ended |
Sep. 30, 2018 | |
Receivables [Abstract] | |
Past due loans excluded TDRs past due and accruing | 90 days |
Loans and the Allowance for _12
Loans and the Allowance for Credit Losses - Summary of Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | $ 46,158 | $ 46,158 | $ 50,124 | ||
Total impaired loans, Unpaid principal balance | 46,158 | 46,158 | 52,229 | ||
Recorded Investment, With no specific allowance recorded | 37,612 | 37,612 | 41,291 | ||
Total impaired loans, Recorded investment | 37,612 | 37,612 | 43,396 | ||
Unpaid Principal Balance, With a specific allowance recorded | 2,105 | ||||
Recorded Investment, With a specific allowance recorded | 2,105 | ||||
Related Allowance, With a specific allowance recorded | 388 | ||||
Average recorded investment, with no related specific allowance | 37,542 | $ 37,452 | 38,225 | $ 37,432 | |
Interest income recognized, With no related specific allowance | 99 | 96 | 614 | 617 | |
Average recorded investment, With a specific allowance recorded | 5,137 | 1,052 | 5,350 | ||
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 | 0 | |
Total impaired loans, Average recorded investment | 37,542 | 42,589 | 39,277 | 42,782 | |
Total impaired loans, Interest income recognized | 99 | 96 | 614 | 617 | |
Residential Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 21,226 | 21,226 | 20,821 | ||
Recorded Investment, With no specific allowance recorded | 18,944 | 18,944 | 18,982 | ||
Average recorded investment, with no related specific allowance | 18,336 | 17,039 | 18,207 | 17,743 | |
Interest income recognized, With no related specific allowance | 68 | 57 | 195 | 192 | |
Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 857 | 857 | 1,084 | ||
Recorded Investment, With no specific allowance recorded | 685 | 685 | 952 | ||
Average recorded investment, with no related specific allowance | 692 | 731 | 776 | 746 | |
Interest income recognized, With no related specific allowance | 3 | 2 | 8 | 5 | |
Home Equity [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 5,550 | 5,550 | 5,833 | ||
Recorded Investment, With no specific allowance recorded | 4,728 | 4,728 | 5,169 | ||
Average recorded investment, with no related specific allowance | 4,924 | 4,727 | 4,997 | 4,456 | |
Interest income recognized, With no related specific allowance | 8 | 4 | 19 | 14 | |
Commercial Real Estate - Land and Construction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 412 | ||||
Recorded Investment, With no specific allowance recorded | 239 | ||||
Average recorded investment, with no related specific allowance | 444 | 260 | 516 | ||
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 | 0 | |
Commercial Real Estate - Improved Property [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 14,639 | 14,639 | 18,229 | ||
Recorded Investment, With no specific allowance recorded | 9,928 | 9,928 | 12,863 | ||
Unpaid Principal Balance, With a specific allowance recorded | 2,105 | ||||
Recorded Investment, With a specific allowance recorded | 2,105 | ||||
Related Allowance, With a specific allowance recorded | 388 | ||||
Average recorded investment, with no related specific allowance | 10,409 | 10,923 | 11,000 | 10,271 | |
Interest income recognized, With no related specific allowance | 15 | 31 | 383 | 400 | |
Average recorded investment, With a specific allowance recorded | 5,137 | 1,052 | 5,032 | ||
Interest income recognized, With a specific allowance recorded | 0 | 0 | 0 | 0 | |
Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Unpaid Principal Balance, With no specific allowance recorded | 3,886 | 3,886 | 3,745 | ||
Recorded Investment, With no specific allowance recorded | 3,327 | 3,327 | $ 3,086 | ||
Average recorded investment, with no related specific allowance | 3,181 | 3,588 | 2,985 | 3,700 | |
Interest income recognized, With no related specific allowance | 5 | 2 | 9 | 6 | |
Average recorded investment, With a specific allowance recorded | 318 | ||||
Interest income recognized, With a specific allowance recorded | $ 0 | $ 0 | $ 0 | $ 0 |
Loans and the Allowance for _13
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | $ 31,274 | $ 36,825 |
TDRs | 8,374 | 9,436 |
Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 6,338 | 6,571 |
Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 2,036 | 2,865 |
Commercial Real Estate - Land and Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 239 | |
TDRs | 3 | |
Commercial Real Estate - Land and Construction [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 3 | |
Commercial Real Estate - Improved Property [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 8,757 | 13,318 |
TDRs | 1,811 | 2,078 |
Commercial Real Estate - Improved Property [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,171 | 1,650 |
Commercial Real Estate - Improved Property [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 640 | 428 |
Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 3,165 | 2,958 |
TDRs | 162 | 225 |
Commercial and Industrial [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 162 | 128 |
Commercial and Industrial [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 97 | |
Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 4,283 | 4,762 |
TDRs | 612 | 744 |
Home Equity [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 445 | 407 |
Home Equity [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 167 | 337 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 8,757 | 13,557 |
TDRs | 1,811 | 2,081 |
Commercial Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,171 | 1,650 |
Commercial Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 640 | 431 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 14,475 | 14,661 |
TDRs | 5,651 | 6,201 |
Residential Real Estate [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 4,469 | 4,321 |
Residential Real Estate [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 1,182 | 1,880 |
Consumer [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Non-accrual loans | 594 | 887 |
TDRs | 138 | 185 |
Consumer [Member] | Accruing TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | 91 | 65 |
Consumer [Member] | Non-Accrual TDRs [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
TDRs | $ 47 | $ 120 |
Loans and the Allowance for _14
Loans and the Allowance for Credit Losses - Recorded Investment in Non-Accrual Loans and TDRs (Parenthetical) (Detail) | Sep. 30, 2018USD ($)Borrowers | Dec. 31, 2017USD ($)Borrowers |
Receivables [Abstract] | ||
Number of borrowers with loans greater than one million | Borrowers | 1 | 3 |
Borrowers with large amount of loans outstanding, minimum amount of loans per borrower | $ 1,000,000 | $ 1,000,000 |
Borrowers with large amount of loans outstanding, net | $ 3,400,000 | $ 6,800,000 |
Loans and the Allowance for _15
Loans and the Allowance for Credit Losses - Loans Identified as TDRs (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($)Contract | Sep. 30, 2018USD ($)Contract | Sep. 30, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 4 | 11 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 19 | $ 291 | $ 298 | $ 459 |
Post-Modification Outstanding Recorded Investment | $ 18 | $ 279 | $ 255 | $ 426 |
Commercial Real Estate - Improved Property [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 190 | $ 190 | ||
Post-Modification Outstanding Recorded Investment | $ 185 | $ 185 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 10 | $ 64 | ||
Post-Modification Outstanding Recorded Investment | $ 8 | $ 59 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 190 | $ 190 | ||
Post-Modification Outstanding Recorded Investment | $ 185 | $ 185 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 5 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 203 | $ 22 | ||
Post-Modification Outstanding Recorded Investment | $ 176 | $ 17 | ||
Consumer [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 1 | 1 | 4 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 19 | $ 7 | $ 65 | $ 42 |
Post-Modification Outstanding Recorded Investment | $ 18 | $ 6 | $ 52 | $ 33 |
Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Modifications | Contract | 2 | 1 | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 94 | $ 20 | $ 141 | |
Post-Modification Outstanding Recorded Investment | $ 88 | $ 19 | $ 132 |
Loans and the Allowance for _16
Loans and the Allowance for Credit Losses - TDRs Defaulted Later Restructured (Detail) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018USD ($)Defaults | Sep. 30, 2017USD ($)Defaults | |
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 3 | 2 |
Recorded Investment | $ | $ 178 | $ 14 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 2 | 1 |
Recorded Investment | $ | $ 172 | $ 7 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 7 | |
Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Defaults | Defaults | 1 | |
Recorded Investment | $ | $ 6 |
Loans and the Allowance for _17
Loans and the Allowance for Credit Losses - Summary of Other Real Estate Owned and Repossessed Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Receivables [Abstract] | ||
Other real estate owned | $ 6,836 | $ 5,195 |
Repossessed assets | 41 | 102 |
Total other real estate owned and repossessed assets | $ 6,877 | $ 5,297 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($)Derivative | Sep. 30, 2017USD ($) | Sep. 30, 2018USD ($)Derivative | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($)Derivative | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Aggregate notional amount | $ 234,400,000 | $ 234,400,000 | $ 298,200,000 | ||
Net gain (loss) on change in fair value | (273,000) | $ (32,000) | 480,000 | $ (212,000) | |
Collateral posted with market value on liability positions with credit risk-related contingent features | $ 3,700,000 | $ 3,700,000 | |||
Interest Rate Swaps [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Number of interest rate swaps | Derivative | 42 | 42 | 39 | ||
Net gain (loss) on change in fair value | $ (100,000) | (300,000) | |||
Income (loss) on derivative instrument not designated hedges | $ 1,400,000 | $ 1,200,000 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities - Summary of Fair Values of Derivative Instruments on Balance Sheets (Detail) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | $ 234,400,000 | $ 298,200,000 |
Asset Derivatives | 6,631,000 | 7,400,000 |
Liability Derivatives | 6,527,000 | 7,368,000 |
Interest Rate Swaps [Member] | Loan Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 234,363,000 | 298,223,000 |
Asset Derivatives | 6,451,000 | 7,351,000 |
Liability Derivatives | 6,527,000 | 7,345,000 |
Interest Rate Loan Commitments [Member] | Other Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 27,795,000 | 20,319,000 |
Asset Derivatives | 32,000 | 49,000 |
Forward TBA Contracts [Member] | Other Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Notional or Contractual Amount | 32,000,000 | 31,750,000 |
Asset Derivatives | $ 148,000 | |
Liability Derivatives | $ 23,000 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities - Summary of Effect of Derivative Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Derivatives, Fair Value [Line Items] | ||||
Total gain (loss) on derivative financial instruments | $ (273) | $ (32) | $ 480 | $ (212) |
Interest Rate Swaps [Member] | Other Income [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total gain (loss) on derivative financial instruments | (293) | $ (32) | (82) | (335) |
Interest Rate Loan Commitments [Member] | Mortgage Banking Income [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total gain (loss) on derivative financial instruments | (111) | 32 | $ 123 | |
Forward TBA Contracts [Member] | Mortgage Banking Income [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total gain (loss) on derivative financial instruments | $ 131 | $ 530 |
Pension Plan - Components of Ne
Pension Plan - Components of Net Periodic Pension Cost (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost - benefits earned during year | $ 715 | $ 650 | $ 2,121 | $ 1,929 |
Interest cost on projected benefit obligation | 1,242 | 1,107 | 3,684 | 3,287 |
Expected return on plan assets | (2,416) | (1,928) | (7,169) | (5,721) |
Amortization of prior service cost | 6 | 7 | 19 | 19 |
Amortization of net loss | 766 | 812 | 2,274 | 2,409 |
Net periodic pension cost | $ 313 | $ 648 | $ 929 | $ 1,923 |
Pension Plan - Additional Infor
Pension Plan - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Aug. 20, 2018 | Jun. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Minimum required pension plan contribution | $ 5,100,000 | $ 5,100,000 | ||||
Voluntary contribution | 56,900,000 | |||||
Available credit balance | $ 2,500,000 | |||||
Net periodic pension income | 313,000 | $ 648,000 | 929,000 | $ 1,923,000 | ||
Expected return on plan assets | 2,416,000 | 1,928,000 | 7,169,000 | 5,721,000 | ||
Interest cost on projected benefit obligation | 1,242,000 | $ 1,107,000 | 3,684,000 | $ 3,287,000 | ||
Farmers Capital Bank Corporation [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Postretirement medical benefit plan | 9,500,000 | $ 9,500,000 | $ 15,000,000 | |||
Life of the plan | 17 years | |||||
Defined benefit plan, Unrealized gain | $ 5,500,000 | |||||
Pentegra Defined Benefit Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Minimum required pension plan contribution | 0 | 0 | ||||
Voluntary contribution | 200,000 | |||||
Net periodic pension income | 100,000 | 200,000 | ||||
Expected return on plan assets | 200,000 | 500,000 | ||||
Interest cost on projected benefit obligation | $ 100,000 | $ 300,000 |
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 | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | $ 12,784 | $ 13,457 |
Total debt securities - available-for-sale | 2,008,232 | 1,261,865 |
Loans held for sale | 55,913 | 20,320 |
Other real estate owned and repossessed assets | 6,877 | 5,297 |
Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 12,784 | 13,457 |
Total debt securities - available-for-sale | 2,008,232 | 1,261,865 |
Loans held for sale | 55,913 | 20,320 |
Other assets - interest rate derivatives agreements | 6,451 | 7,351 |
Total assets recurring fair value measurements | 2,083,380 | 1,302,993 |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other liabilities - interest rate derivatives agreements | 6,527 | 7,345 |
Total liabilities recurring fair value measurements | 6,527 | 7,345 |
Impaired loans | 1,717 | |
Other real estate owned and repossessed assets | 6,877 | 5,297 |
Total assets recurring fair value measurements | 6,877 | 7,014 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 9,937 | |
US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 9,937 | |
U.S. Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 149,949 | 71,843 |
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 debt securities - available-for-sale | 149,949 | 71,843 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 1,449,754 | 934,922 |
Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 1,449,754 | 934,922 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of Government Sponsored Entities and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 168,761 | 114,867 |
Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 168,761 | 114,867 |
Obligations of State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 186,651 | 104,830 |
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 debt securities - available-for-sale | 186,651 | 104,830 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 43,180 | 35,403 |
Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 43,180 | 35,403 |
Investments Measured at Net Asset Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 2,066 | |
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] | ||
Equity securities | 0 | 2,066 |
Total debt securities - available-for-sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Other assets - interest rate derivatives agreements | 0 | 0 |
Total assets recurring fair value measurements | 0 | 2,066 |
Investments Measured at Net Asset Value [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other liabilities - interest rate derivatives agreements | 0 | 0 |
Total liabilities recurring fair value measurements | 0 | 0 |
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets recurring fair value measurements | 0 | 0 |
Investments Measured at Net Asset Value [Member] | US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 0 | |
Investments Measured at Net Asset Value [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 debt securities - available-for-sale | 0 | 0 |
Investments Measured at Net Asset Value [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 0 | 0 |
Investments Measured at Net Asset Value [Member] | Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 0 | 0 |
Investments Measured at Net Asset Value [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 debt securities - available-for-sale | 0 | 0 |
Investments Measured at Net Asset Value [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 12,784 | 11,391 |
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] | ||
Equity securities | 12,784 | 11,391 |
Total debt securities - available-for-sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Other assets - interest rate derivatives agreements | 0 | 0 |
Total assets recurring fair value measurements | 12,784 | 11,391 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other liabilities - interest rate derivatives agreements | 0 | 0 |
Total liabilities recurring fair value measurements | 0 | 0 |
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets recurring fair value measurements | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [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 debt securities - available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other liabilities - interest rate derivatives agreements | 6,527 | 7,345 |
Total debt securities - available-for-sale | 2,006,706 | 1,261,865 |
Loans held for sale | 55,913 | 20,320 |
Other assets - interest rate derivatives agreements | 6,451 | 7,351 |
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] | ||
Equity securities | 0 | 0 |
Total debt securities - available-for-sale | 2,006,706 | 1,261,865 |
Loans held for sale | 55,913 | 20,320 |
Other assets - interest rate derivatives agreements | 6,451 | 7,351 |
Total assets recurring fair value measurements | 2,069,070 | 1,289,536 |
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] | ||
Other liabilities - interest rate derivatives agreements | 6,527 | 7,345 |
Total liabilities recurring fair value measurements | 6,527 | 7,345 |
Impaired loans | 0 | 0 |
Other real estate owned and repossessed assets | 0 | 0 |
Total assets recurring fair value measurements | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 9,937 | |
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 debt securities - available-for-sale | 149,949 | 71,843 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 1,449,754 | 934,922 |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 168,761 | 114,867 |
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 debt securities - available-for-sale | 185,125 | 104,830 |
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 debt securities - available-for-sale | 43,180 | 35,403 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 1,526 | |
Significant Unobservable Inputs (Level 3) [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity securities | 0 | 0 |
Total debt securities - available-for-sale | 1,526 | 0 |
Loans held for sale | 0 | 0 |
Other assets - interest rate derivatives agreements | 0 | 0 |
Total assets recurring fair value measurements | 1,526 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other liabilities - interest rate derivatives agreements | 0 | 0 |
Total liabilities recurring fair value measurements | 0 | 0 |
Impaired loans | 0 | 1,717 |
Other real estate owned and repossessed assets | 6,877 | 5,297 |
Total assets recurring fair value measurements | 6,877 | 7,014 |
Significant Unobservable Inputs (Level 3) [Member] | US Treasury Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 0 | |
Significant Unobservable Inputs (Level 3) [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 debt securities - available-for-sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial Mortgage-Backed Securities and Collateralized Mortgage Obligations of 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 debt securities - available-for-sale | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Obligations of State and Political Subdivisions [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | 1,526 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt Securities [Member] | Recurring Fair Value Measurements [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total debt securities - available-for-sale | $ 0 | $ 0 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |||
Fair value transfer amount | $ 0 | $ 0 | $ 0 |
Fair Value Measurement - Sche_2
Fair Value Measurement - Schedule of Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Other real estate owned and repossessed assets | $ 6,877 | $ 5,297 |
Impaired loans, Appraisal adjustments | 0.00% | (4.80%) |
Impaired loans, Liquidation expenses | 0.00% | (7.60%) |
Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Impaired loans | $ 1,717 | |
Other real estate owned and repossessed assets | $ 6,877 | 5,297 |
Significant Unobservable Inputs (Level 3) [Member] | Nonrecurring Fair Value Measurements [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Impaired loans | 0 | 1,717 |
Other real estate owned and repossessed assets | $ 6,877 | $ 5,297 |
Weighted Average [Member] | ||
Fair Value Inputs Asset Quantitative Information [Line Items] | ||
Impaired loans, Appraisal adjustments | 0.00% | (4.80%) |
Impaired loans, Liquidation expenses | 0.00% | (7.60%) |
Fair Value Measurement - Estima
Fair Value Measurement - Estimates Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financial Assets | ||
Cash and due from banks | $ 273,680 | $ 117,572 |
Equity securities | 12,784 | 13,457 |
Debt securities available-for-sale | 2,008,232 | 1,261,865 |
Debt securities held-to-maturity | 1,025,538 | 1,009,500 |
Net loans | 7,677,521 | 6,296,157 |
Loans held for sale | 55,913 | 20,320 |
Accrued interest receivable | 39,465 | 29,728 |
Financial Liabilities | ||
Deposits | 8,941,758 | 7,043,588 |
Federal Home Loan Bank borrowings | 1,131,253 | 948,203 |
Other borrowings | 294,281 | 184,805 |
Subordinated debt and junior subordinated debt | 189,745 | 164,327 |
Accrued interest payable | 6,623 | 3,178 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial Assets | ||
Cash and due from banks | 273,680 | 117,572 |
Equity securities | 12,784 | 11,391 |
Accrued interest receivable | 39,465 | 29,728 |
Financial Liabilities | ||
Deposits | 7,428,158 | 5,766,531 |
Other borrowings | 292,290 | 182,785 |
Accrued interest payable | 6,623 | 3,178 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets | ||
Debt securities available-for-sale | 2,006,706 | 1,261,865 |
Debt securities held-to-maturity | 1,013,788 | 1,023,191 |
Loans held for sale | 55,913 | 20,320 |
Other assets - interest rate derivatives | 6,451 | 7,351 |
Financial Liabilities | ||
Deposits | 1,532,063 | 1,287,005 |
Federal Home Loan Bank borrowings | 1,123,441 | 944,706 |
Other borrowings | 1,995 | 2,029 |
Subordinated debt and junior subordinated debt | 179,497 | 146,484 |
Other liabilities - interest rate derivatives | 6,527 | 7,345 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets | ||
Debt securities available-for-sale | 1,526 | |
Debt securities held-to-maturity | 573 | 593 |
Net loans | 7,517,958 | 6,212,823 |
Carrying Amount [Member] | ||
Financial Assets | ||
Cash and due from banks | 273,680 | 117,572 |
Equity securities | 12,784 | 13,457 |
Debt securities available-for-sale | 2,008,232 | 1,261,865 |
Debt securities held-to-maturity | 1,025,538 | 1,009,500 |
Net loans | 7,677,521 | 6,296,157 |
Loans held for sale | 55,913 | 20,320 |
Other assets - interest rate derivatives | 6,451 | 7,351 |
Accrued interest receivable | 39,465 | 29,728 |
Financial Liabilities | ||
Deposits | 8,941,758 | 7,043,588 |
Federal Home Loan Bank borrowings | 1,131,253 | 948,203 |
Other borrowings | 294,281 | 184,805 |
Subordinated debt and junior subordinated debt | 189,745 | 164,327 |
Other liabilities - interest rate derivatives | 6,527 | 7,345 |
Accrued interest payable | 6,623 | 3,178 |
Fair Value Estimate [Member] | ||
Financial Assets | ||
Cash and due from banks | 273,680 | 117,572 |
Equity securities | 12,784 | 13,457 |
Debt securities available-for-sale | 2,008,232 | 1,261,865 |
Debt securities held-to-maturity | 1,014,361 | 1,023,784 |
Net loans | 7,517,958 | 6,212,823 |
Loans held for sale | 55,913 | 20,320 |
Other assets - interest rate derivatives | 6,451 | 7,351 |
Accrued interest receivable | 39,465 | 29,728 |
Financial Liabilities | ||
Deposits | 8,960,221 | 7,053,536 |
Federal Home Loan Bank borrowings | 1,123,441 | 944,706 |
Other borrowings | 294,285 | 184,814 |
Subordinated debt and junior subordinated debt | 179,497 | 146,484 |
Other liabilities - interest rate derivatives | 6,527 | 7,345 |
Accrued interest payable | $ 6,623 | 3,178 |
Investments Measured at Net Asset Value [Member] | ||
Financial Assets | ||
Equity securities | $ 2,066 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Revenue Recognition (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Schedule Of Revenue Recognition [Line Items] | ||||
Total net securities brokerage revenue | $ 1,836 | $ 1,721 | $ 5,315 | $ 5,164 |
Allotment fees | 311 | 311 | ||
Electronic banking fees | 6,139 | 4,883 | 16,697 | 14,395 |
Mortgage banking income | 1,521 | 1,103 | 4,297 | 3,511 |
Net gain or loss on sale of other real estate owned | 150 | (298) | 641 | 9 |
Total Service Charges on Deposits [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total trust fees/Total service charges on deposits | 6,313 | $ 16,282 | ||
Trust Account Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | Over time | |||
Total trust fees/Total service charges on deposits | 4,006 | $ 11,856 | ||
WesMark Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | Over time | |||
Total trust fees/Total service charges on deposits | 2,259 | $ 6,664 | ||
Total Trust Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Total trust fees/Total service charges on deposits | 6,265 | $ 5,358 | $ 18,520 | $ 17,073 |
Commercial Banking Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | Over time | |||
Total trust fees/Total service charges on deposits | 563 | $ 1,406 | ||
Personal Service Charges [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time & over time | |||
Total trust fees/Total service charges on deposits | 5,750 | $ 14,876 | ||
Annuity Commissions [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time | |||
Total net securities brokerage revenue | 1,326 | $ 3,836 | ||
Equity and Debt Security Trades [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time | |||
Total net securities brokerage revenue | 116 | $ 304 | ||
Managed Money [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | Over time | |||
Total net securities brokerage revenue | 173 | $ 477 | ||
Trail Commissions [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | Over time | |||
Total net securities brokerage revenue | $ 221 | $ 698 | ||
Allotment Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time & over time | |||
Electronic Banking Fees [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time | |||
Mortgage [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time | |||
OREO/other assets [Member] | ||||
Schedule Of Revenue Recognition [Line Items] | ||||
Point of revenue recognition | At a point in time |
Comprehensive Income_(Loss) - C
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ 1,395,321 | $ 1,341,408 | ||
Amounts reclassified from accumulated other comprehensive income | $ 537 | $ 471 | 1,463 | 1,549 |
Total other comprehensive income | (27,315) | 6,289 | ||
Ending Balance | 1,927,269 | 1,394,558 | 1,927,269 | 1,394,558 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (18,626) | (17,758) | ||
Acquired FFKT Medical benefit plan | 4,235 | |||
Amounts reclassified from accumulated other comprehensive income | 595 | 513 | 1,621 | 1,679 |
Total other comprehensive income | 5,856 | 1,679 | ||
Ending Balance | (12,770) | (16,079) | (12,770) | (16,079) |
Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (13,250) | (9,890) | ||
Other comprehensive income before reclassifications | (33,013) | 4,740 | ||
Amounts reclassified from accumulated other comprehensive income | (9) | (9) | 35 | |
Total other comprehensive income | (33,022) | 4,775 | ||
Adoption of Accounting Standard ASU 2016-01 | (1,063) | (1,063) | ||
Ending Balance | (47,335) | (5,115) | (47,335) | (5,115) |
Accumulated Unrealized Gains on Debt Securities Transferred from Available For Sale to Held to Maturity [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | 381 | 522 | ||
Amounts reclassified from accumulated other comprehensive income | (49) | (42) | (149) | (165) |
Total other comprehensive income | (149) | (165) | ||
Ending Balance | 232 | 357 | 232 | 357 |
Accumulated Other Comprehensive (Loss) Income [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (31,495) | (27,126) | ||
Other comprehensive income before reclassifications | (33,013) | 4,740 | ||
Acquired FFKT Medical benefit plan | 4,235 | |||
Amounts reclassified from accumulated other comprehensive income | 1,463 | 1,549 | ||
Total other comprehensive income | (27,315) | 6,289 | ||
Adoption of Accounting Standard ASU 2016-01 | (1,063) | (1,063) | ||
Ending Balance | $ (59,873) | $ (20,837) | $ (59,873) | $ (20,837) |
Comprehensive Income_(Loss) -_2
Comprehensive Income/(Loss) - Components of Accumulated Other Comprehensive Income (Parenthetical) (Detail) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Percentage of Federal and State income tax rate | 23.00% | 37.00% |
Comprehensive Income_(Loss) - S
Comprehensive Income/(Loss) - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net securities gains (Non-interest income) | $ (84) | $ (6) | $ (403) | $ (511) |
Interest and dividends on securities (Interest and dividend income) | (20,290) | (14,573) | (55,918) | (43,299) |
Employee benefits (Non-interest expense) | 7,905 | 7,728 | 22,782 | 23,670 |
Provision for income taxes | 6,516 | 10,527 | 20,855 | 30,801 |
Net effect on accumulated other comprehensive income for the period | 537 | 471 | 1,463 | 1,549 |
Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net effect on accumulated other comprehensive income for the period | (9) | (9) | 35 | |
Accumulated Unrealized Gains on Debt Securities Transferred from Available For Sale to Held to Maturity [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net effect on accumulated other comprehensive income for the period | (49) | (42) | (149) | (165) |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net effect on accumulated other comprehensive income for the period | 595 | 513 | 1,621 | 1,679 |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Unrealized Gains (Losses) on Debt Securities Available for Sale [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net securities gains (Non-interest income) | (11) | (11) | 55 | |
Provision for income taxes | 2 | 2 | (20) | |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Unrealized Gains on Debt Securities Transferred from Available For Sale to Held to Maturity [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Interest and dividends on securities (Interest and dividend income) | (64) | (66) | (195) | (256) |
Provision for income taxes | 15 | 24 | 46 | 91 |
Amounts Reclassified From Accumulated Other Comprehensive Income/(Loss) [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Employee benefits (Non-interest expense) | 772 | 816 | 2,293 | 2,429 |
Provision for income taxes | $ (177) | $ (303) | $ (672) | $ (750) |
Commitments and Contingent Li_3
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 |
Commitments and Contingencies Disclosure [Abstract] | ||||
Allowance for credit losses associated with loan commitments | $ 684 | $ 574 | $ 647 | $ 571 |
Liability associated with letters of credit | $ 200 | $ 200 |
Commitments and Contingent Li_4
Commitments and Contingent Liabilities - Commitments to Extend Credit, Guarantees and Various Letters of Credit Outstanding (Detail) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Commitments and Contingencies Disclosure [Abstract] | ||
Lines of credit | $ 1,855,388 | $ 1,452,697 |
Loans approved but not closed | 349,173 | 245,644 |
Overdraft limits | 154,221 | 126,671 |
Letters of credit | 41,515 | 31,951 |
Contingent obligations and other guarantees | $ 5,725 | $ 6,700 |
Business Segments - Additional
Business Segments - Additional Information (Detail) $ in Millions | 9 Months Ended | |
Sep. 30, 2018USD ($)Segment | Sep. 30, 2017USD ($) | |
Segment Reporting Information [Line Items] | ||
Operating segments | Segment | 2 | |
Trust and Investment Services [Member] | ||
Segment Reporting Information [Line Items] | ||
Market value of assets managed or held in custody by trust and investment services segment | $ 4,700 | $ 3,900 |
Total non-fiduciary assets of the trust and investment services segment | $ 5.1 | $ 1.7 |
Business Segments - Financial I
Business Segments - Financial Information by Business Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Segment Reporting Information [Line Items] | ||||
Interest income | $ 108,393 | $ 85,489 | $ 293,596 | $ 247,573 |
Interest expense | 18,460 | 11,235 | 48,127 | 30,461 |
Net interest income | 89,933 | 74,254 | 245,469 | 217,112 |
Provision for credit losses | 1,035 | 2,516 | 4,911 | 7,610 |
Net interest income after provision for credit losses | 88,898 | 71,738 | 240,558 | 209,502 |
Non-interest income | 26,224 | 20,899 | 73,715 | 65,906 |
Non-interest expense | 76,120 | 55,754 | 194,234 | 166,023 |
Income before provision for income taxes | 39,002 | 36,883 | 120,039 | 109,385 |
Provision for income taxes | 6,516 | 10,527 | 20,855 | 30,801 |
Net income | 32,486 | 26,356 | 99,184 | 78,584 |
Community Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Interest income | 108,393 | 85,489 | 293,596 | 247,573 |
Interest expense | 18,460 | 11,235 | 48,127 | 30,461 |
Net interest income | 89,933 | 74,254 | 245,469 | 217,112 |
Provision for credit losses | 1,035 | 2,516 | 4,911 | 7,610 |
Net interest income after provision for credit losses | 88,898 | 71,738 | 240,558 | 209,502 |
Non-interest income | 19,959 | 15,541 | 55,195 | 48,833 |
Non-interest expense | 72,378 | 52,355 | 183,298 | 156,102 |
Income before provision for income taxes | 36,479 | 34,924 | 112,455 | 102,233 |
Provision for income taxes | 5,986 | 9,744 | 19,262 | 27,940 |
Net income | 30,493 | 25,180 | 93,193 | 74,293 |
Trust and Investment Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest income | 6,265 | 5,358 | 18,520 | 17,073 |
Non-interest expense | 3,742 | 3,399 | 10,936 | 9,921 |
Income before provision for income taxes | 2,523 | 1,959 | 7,584 | 7,152 |
Provision for income taxes | 530 | 783 | 1,593 | 2,861 |
Net income | $ 1,993 | $ 1,176 | $ 5,991 | $ 4,291 |