Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 17, 2016 | Jun. 30, 2015 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | WESTAMERICA BANCORPORATION | ||
Trading Symbol | wabc | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 25,400,087 | ||
Entity Public Float | $ 1,103,045,781 | ||
Amendment Flag | false | ||
Entity Central Index Key | 311,094 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | Yes | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Assets: | ||
Cash and due from banks | $ 433,044 | $ 380,836 |
Investment securities available for sale | 1,570,216 | 1,600,781 |
Investment securities held to maturity, with fair values of: $1,325,699 at December 31, 2015 and $1,048,562 at December 31, 2014 | 1,316,075 | 1,038,658 |
Loans | 1,533,396 | 1,700,290 |
Allowance for loan losses | (29,771) | (31,485) |
Loans, net of allowance for loan losses | 1,503,625 | 1,668,805 |
Other real estate owned | 9,264 | 6,374 |
Premises and equipment, net | 38,693 | 37,852 |
Identifiable intangibles, net | 10,431 | 14,287 |
Goodwill | 121,673 | 121,673 |
Other assets | 165,854 | 166,458 |
Total Assets | 5,168,875 | 5,035,724 |
Liabilities: | ||
Noninterest bearing deposits | 2,026,049 | 1,910,781 |
Interest bearing deposits | 2,514,610 | 2,438,410 |
Total deposits | 4,540,659 | 4,349,191 |
Short-term borrowed funds | 53,028 | 89,784 |
Federal Home Loan Bank advances | 20,015 | |
Other liabilities | 42,983 | 50,131 |
Total Liabilities | 4,636,670 | 4,509,121 |
Shareholders' Equity: | ||
Common stock (no par value), authorized - 150,000 shares Issued and outstanding: 25,528 at December 31, 2015 and 25,745 at December 31, 2014 | 378,858 | 378,132 |
Deferred compensation | 2,578 | 2,711 |
Accumulated other comprehensive income | 675 | 5,292 |
Retained earnings | 150,094 | 140,468 |
Total Shareholders' Equity | 532,205 | 526,603 |
Total Liabilities and Shareholders' Equity | $ 5,168,875 | $ 5,035,724 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Investment securities held to maturity, fair values (in Dollars) | $ 1,325,699 | $ 1,048,562 |
Common stock, par value (in Dollars per share) | $ 0 | $ 0 |
Common stock, authorized | 150,000 | 150,000 |
Common stock, Issued | 25,528 | 25,745 |
Common stock, outstanding | 25,528 | 25,745 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest and Fee Income: | |||
Loans | $ 78,441 | $ 89,056 | $ 102,626 |
Investment securities available for sale | 31,263 | 24,740 | 21,822 |
Investment securities held to maturity | 26,825 | 26,413 | 29,948 |
Total Interest and Fee Income | 136,529 | 140,209 | 154,396 |
Interest Expense: | |||
Deposits | 2,370 | 2,887 | 3,348 |
Short-term borrowed funds | 53 | 90 | 77 |
Federal Home Loan Bank advances | 1 | 407 | 480 |
Term repurchase agreement | 0 | 60 | 98 |
Debt financing | 0 | 0 | 668 |
Total Interest Expense | 2,424 | 3,444 | 4,671 |
Net Interest Income | 134,105 | 136,765 | 149,725 |
Provision for Loan Losses | 0 | 2,800 | 8,000 |
Net Interest Income After Provision For Loan Losses | 134,105 | 133,965 | 141,725 |
Noninterest Income: | |||
Service charges on deposit accounts | 22,241 | 24,191 | 25,693 |
Merchant processing services | 6,339 | 7,219 | 9,031 |
Debit card fees | 6,084 | 5,960 | 5,829 |
Other service fees | 2,689 | 2,717 | 2,846 |
Trust fees | 2,732 | 2,582 | 2,313 |
ATM processing fees | 2,397 | 2,473 | 2,758 |
Financial services commissions | 695 | 757 | 831 |
Other | 4,690 | 5,888 | 7,710 |
Total Noninterest Income | 47,867 | 51,787 | 57,011 |
Noninterest Expense: | |||
Salaries and related benefits | 52,192 | 54,777 | 56,633 |
Occupancy | 14,960 | 14,992 | 15,137 |
Outsourced data processing services | 8,441 | 8,411 | 8,548 |
Amortization of identifiable intangibles | 3,856 | 4,270 | 4,704 |
Furniture and equipment | 4,434 | 4,174 | 3,869 |
Courier service | 2,329 | 2,624 | 2,868 |
Professional fees | 2,490 | 2,346 | 3,057 |
Other real estate owned | 504 | (642) | 1,035 |
Other | 16,094 | 15,847 | 16,763 |
Total Noninterest Expense | 105,300 | 106,799 | 112,614 |
Income Before Income Taxes | 76,672 | 78,953 | 86,122 |
Provision for income taxes | 17,919 | 18,307 | 18,945 |
Net Income | $ 58,753 | $ 60,646 | $ 67,177 |
Average Common Shares Outstanding (in Shares) | 25,555 | 26,099 | 28,826 |
Diluted Average Common Shares Outstanding (in Shares) | 25,577 | 26,160 | 26,877 |
Per Common Share Data: | |||
Basic earnings (in Dollars per share) | $ 2.30 | $ 2.32 | $ 2.50 |
Diluted earnings (in Dollars per share) | 2.30 | 2.32 | 2.50 |
Dividends paid (in Dollars per share) | $ 1.53 | $ 1.52 | $ 1.49 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net Income | $ 14,578 | $ 14,857 | $ 14,761 | $ 14,557 | $ 15,028 | $ 15,154 | $ 15,157 | $ 15,307 | $ 16,056 | $ 16,738 | $ 17,112 | $ 17,271 | $ 58,753 | $ 60,646 | $ 67,177 |
Other comprehensive (loss) income: | |||||||||||||||
(Decrease) increase in net unrealized gains on securities available for sale | (8,028) | 1,627 | (17,855) | ||||||||||||
Deferred tax (expense) benefit | 3,375 | (684) | 7,507 | ||||||||||||
(Decrease) increase in net unrealized gains on securities available for sale, net of tax | (4,653) | 943 | (10,348) | ||||||||||||
Post-retirement benefit transition obligation amortization | 61 | 61 | 61 | ||||||||||||
Deferred tax expense | (25) | (25) | (25) | ||||||||||||
Post-retirement benefit transition obligation amortization, net of tax | 36 | 36 | 36 | ||||||||||||
Total Other Comprehensive (Loss) Income | (4,617) | 979 | (10,312) | ||||||||||||
Total Comprehensive Income | $ 54,136 | $ 61,625 | $ 56,865 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders’ Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Accumulated Deferred Compensation [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2012 | $ 372,012 | $ 3,101 | $ 14,625 | $ 170,364 | $ 560,102 |
Balance (in Shares) at Dec. 31, 2012 | 27,213 | ||||
Net income | 67,177 | 67,177 | |||
Other comprehensive income | (10,312) | (10,312) | |||
Exercise of stock options | $ 21,499 | 21,499 | |||
Exercise of stock options (in Shares) | 479 | ||||
Tax effect of expiration/exercise of stock options | $ (298) | (298) | |||
Restricted stock activity | $ 1,068 | (390) | 678 | ||
Restricted stock activity (in Shares) | 15 | ||||
Stock based compensation | $ 1,397 | 1,397 | |||
Stock awarded to employees | $ 107 | 107 | |||
Stock awarded to employees (in Shares) | 2 | ||||
Retirement and repurchases of common stock | $ (16,839) | (40,481) | (57,320) | ||
Retirement and repurchases of common stock (in Shares) | (1,199) | ||||
Dividends | (40,096) | (40,096) | |||
Balance at Dec. 31, 2013 | $ 378,946 | 2,711 | 4,313 | 156,964 | 542,934 |
Balance (in Shares) at Dec. 31, 2013 | 26,510 | ||||
Net income | 60,646 | 60,646 | |||
Other comprehensive income | 979 | 979 | |||
Exercise of stock options | $ 12,396 | 12,396 | |||
Exercise of stock options (in Shares) | 256 | ||||
Tax effect of expiration/exercise of stock options | $ (447) | (447) | |||
Restricted stock activity | $ 1,114 | 1,114 | |||
Restricted stock activity (in Shares) | 21 | ||||
Stock based compensation | $ 1,318 | 1,318 | |||
Stock awarded to employees | $ 102 | 102 | |||
Stock awarded to employees (in Shares) | 2 | ||||
Retirement and repurchases of common stock | $ (15,297) | (37,381) | (52,678) | ||
Retirement and repurchases of common stock (in Shares) | (1,044) | ||||
Dividends | (39,761) | (39,761) | |||
Balance at Dec. 31, 2014 | $ 378,132 | 2,711 | 5,292 | 140,468 | 526,603 |
Balance (in Shares) at Dec. 31, 2014 | 25,745 | ||||
Net income | 58,753 | 58,753 | |||
Other comprehensive income | (4,617) | (4,617) | |||
Exercise of stock options | $ 4,848 | $ 4,848 | |||
Exercise of stock options (in Shares) | 108 | 108 | |||
Tax effect of expiration/exercise of stock options | $ (1,284) | $ (1,284) | |||
Restricted stock activity | $ 874 | (133) | 741 | ||
Restricted stock activity (in Shares) | 17 | ||||
Stock based compensation | $ 1,272 | 1,272 | |||
Stock awarded to employees | $ 105 | 105 | |||
Stock awarded to employees (in Shares) | 2 | ||||
Retirement and repurchases of common stock | $ (5,089) | (10,003) | (15,092) | ||
Retirement and repurchases of common stock (in Shares) | (344) | ||||
Dividends | (39,124) | (39,124) | |||
Balance at Dec. 31, 2015 | $ 378,858 | $ 2,578 | $ 675 | $ 150,094 | $ 532,205 |
Balance (in Shares) at Dec. 31, 2015 | 25,528 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Operating Activities: | ||||
Net income | $ 58,753 | $ 60,646 | $ 67,177 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization/accretion | 16,402 | 15,502 | 18,015 | |
Loan loss provision | 0 | 2,800 | 8,000 | |
Net amortization of deferred loan fees | (310) | (279) | (420) | |
(Increase) decrease in interest income receivable | (780) | (469) | 1,249 | |
Decrease (increase) in net deferred tax asset | 830 | 1,417 | (1,618) | |
(Increase) decrease in other assets | (1,828) | (2,923) | 5,814 | |
Stock option compensation expense | 1,272 | 1,318 | 1,397 | |
Tax benefit decrease upon expiration/exercise of stock options | 1,284 | 447 | 298 | |
Increase (decrease) in income taxes payable | 265 | 478 | (1,677) | |
Decrease in interest expense payable | (86) | (111) | (274) | |
(Decrease) increase in other liabilities | (5,754) | 4,474 | (12,510) | |
Gain on sale of real estate and other assets | (400) | (548) | ||
Write-down/net loss on sale of premises and equipment | 109 | 76 | 17 | |
Originations of mortgage loans for resale | (501) | |||
Proceeds from sale of mortgage loans originated for resale | 509 | |||
Net loss/write-down (gain) on sale of foreclosed assets | 247 | (665) | 387 | |
Net Cash Provided by Operating Activities | 70,404 | 82,311 | 85,315 | |
Investing Activities: | ||||
Net repayments of loans | $ 164,093 | 126,414 | 274,774 | |
Proceeds from FDIC(1) loss-sharing indemnification | [1] | 6,703 | 7,069 | |
Purchases of investment securities available for sale | $ (946,794) | (1,126,203) | (418,745) | |
Proceeds from sale/maturity/calls of securities available for sale | 967,118 | 604,475 | 144,886 | |
Purchases of investment securities held to maturity | (437,935) | (67,725) | (196,536) | |
Proceeds from maturity/calls of securities held to maturity | 153,014 | 153,405 | 217,652 | |
Purchases of premises and equipment | (4,474) | (3,791) | (1,693) | |
Net change in FRB(2)/FHLB(3) securities | [2],[3] | 940 | 3,248 | 3,166 |
Proceeds from sale of foreclosed assets | 1,774 | 8,212 | 20,349 | |
Net Cash (Used in) Provided by Investing Activities | (102,264) | (295,262) | 50,922 | |
Financing Activities: | ||||
Net change in deposits | 191,476 | 185,508 | (68,357) | |
Net change in short-term borrowings and FHLB(3) advances | [2] | (56,756) | 26,741 | 3,981 |
Repayments of debt financing | (15,000) | |||
Repayments of term repurchase agreement | (10,000) | |||
Exercise of stock options/issuance of shares | 4,848 | 12,396 | 21,499 | |
Tax benefit decrease upon expiration/exercise of stock options | (1,284) | (447) | (298) | |
Retirement of common stock including repurchases | (15,092) | (52,678) | (57,320) | |
Common stock dividends paid | (39,124) | (39,761) | (40,096) | |
Net Cash Provided by (Used in) Financing Activities | 84,068 | 121,759 | (155,591) | |
Net Change In Cash and Due from Banks | 52,208 | (91,192) | (19,354) | |
Cash and Due from Banks at Beginning of Period | 380,836 | 472,028 | 491,382 | |
Cash and Due from Banks at End of Period | 433,044 | 380,836 | 472,028 | |
Supplemental disclosure of noncash activities: | ||||
Loan collateral transferred to other real estate owned | 4,911 | 968 | 8,643 | |
Securities purchases pending settlement | 2,885 | 2,892 | 3,769 | |
Supplemental disclosure of cash flow activities: | ||||
Interest paid for the period | 2,533 | 3,822 | 5,452 | |
Income tax payments for the period | $ 17,666 | $ 16,412 | $ 22,562 | |
[1] | Federal Deposit Insurance Corporation ("FDIC") | |||
[2] | Federal Home Loan Bank ("FHLB") | |||
[3] | Federal Reserve Bank ("FRB") |
Note 1 - Business and Accountin
Note 1 - Business and Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Business And Accounting Policies [Abstract] | |
Business And Accounting Policies [Text Block] | Note 1: Business and Accounting Policies Westamerica Bancorporation, a registered bank holding company (the “Company”), provides a full range of banking services to corporate and individual customers in Northern and Central California through its subsidiary bank, Westamerica Bank (the “Bank”). The Bank is subject to competition from both financial and nonfinancial institutions and to the regulations of certain agencies and undergoes periodic examinations by those regulatory authorities. The Company has evaluated events and transactions subsequent to the balance sheet date. Based on this evaluation, the Company is not aware of any events or transactions that occurred subsequent to the balance sheet date but prior to filing that would require recognition or disclosure in its consolidated financial statements. Certain amounts in prior periods have been reclassified to conform to the current presentation. Summary of Significant Accounting Policies The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. The following is a summary of significant policies used in the preparation of the accompanying financial statements. Accounting Estimates. Certain accounting policies underlying the preparation of these financial statements require Management to make estimates and judgments about future economic and market conditions. These estimates and judgments may affect reported amounts of assets and liabilities, revenues and expenses, and disclosures of contingent assets and liabilities. Although the estimates contemplate current conditions and how Management expects them to change in the future, it is reasonably possible that in 2016 actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial conditions. The most significant of these involve the Allowance for Credit Losses, as discussed below under “Allowance for Credit Losses.” Principles of Consolidation. The consolidated financial statements include the accounts of the Company and all the Company’s subsidiaries. Significant intercompany transactions have been eliminated in consolidation. The Company does not maintain or conduct transactions with any unconsolidated special purpose entities. Cash. Cash include Due From Banks balances which are readily convertible to known amounts of cash and are generally 90 days or less from maturity at the time of initiation, presenting insignificant risk of changes in value due to interest rate changes. Securities. Investment securities consist of debt securities of the U.S. Treasury, government sponsored entities, states, counties, municipalities, corporations, agency and non-agency mortgage-backed securities, asset-backed securities and equity securities. Securities transactions are recorded on a trade date basis. The Company classifies its debt and marketable equity securities in one of three categories: trading, available for sale or held to maturity. Trading securities are bought and held principally for the purpose of selling them in the near term. Trading securities are recorded at fair value with unrealized gains and losses included in earnings. Held to maturity securities are those debt securities which the Company has the ability and intent to hold until maturity. Held to maturity securities are recorded at cost, adjusted for the amortization of premiums or accretion of discounts. Securities not included in trading or held to maturity are classified as available for sale. Available for sale securities are recorded at fair value. Unrealized gains and losses, net of the related tax effect, on available for sale securities are included in other comprehensive income. The Company utilizes third-party sources to value its investment securities; securities individually valued using quoted prices in active markets are classified as Level 1 assets in the fair value hierarchy, and securities valued using quoted prices in active markets for similar securities (commonly referred to as “matrix” pricing) are classified as Level 2 assets in the fair value hierarchy. The Company validates the reliability of third-party provided values by comparing individual security pricing for securities between more than one third-party source. When third-party information is not available, valuation adjustments are estimated in good faith by Management and classified as Level 3 in the fair value hierarchy. A decline in the market value of any available for sale or held to maturity security below amortized cost that is deemed other than temporary results in a charge to earnings and the establishment of a new cost basis for the security. Unrealized investment securities losses are evaluated at least quarterly to determine whether such declines in value should be considered “other than temporary” and therefore be subject to immediate loss recognition in income. Although these evaluations involve significant judgment, an unrealized loss in the fair value of a debt security is generally deemed to be temporary when the fair value of the security is below the carrying value primarily due to changes in risk-free interest rates, there has not been significant deterioration in the financial condition of the issuer, and the Company does not intend to sell or be required to sell the securities before recovery of its amortized cost. An unrealized loss in the value of an equity security is generally considered temporary when the fair value of the security declined primarily due to current market conditions and not deterioration in the financial condition of the issuer, the Company expects the fair value of the security to recover in the near term and the Company does not intend to sell or be required to sell the securities before recovery of its amortized cost. Other factors that may be considered in determining whether a decline in the value of either a debt or an equity security is “other than temporary” include ratings by recognized rating agencies, actions of commercial banks or other lenders relative to the continued extension of credit facilities to the issuer of the security, the financial condition, capital strength and near-term prospects of the issuer, and recommendations of investment advisors or market analysts. The Company follows the guidance issued by the Board of Governors of the Federal Reserve System, “Investing in Securities without Reliance on Nationally Recognized Statistical Rating Agencies” (SR 12-15) and other regulatory guidance when performing investment security pre-purchase analysis or evaluating investment securities for impairment. Credit ratings issued by recognized rating agencies are considered in the Company’s analysis only as a guide to the historical default rate associated with similarly-rated bonds. Purchase premiums are amortized and purchase discounts are accreted over the estimated life of the related investment security as an adjustment to yield using the effective interest method. Unamortized premiums, unaccreted discounts, and early payment premiums are recognized as a component of gain or loss on sale upon disposition of the related security. Interest and dividend income are recognized when earned. Realized gains and losses from the sale of available for sale securities are included in earnings using the specific identification method. Nonmarketable Equity Securities. Nonmarketable equity securities include securities that are not publicly traded, such as Visa Class B common stock, and securities acquired to meet regulatory requirements, such as Federal Home Loan Bank and Federal Reserve Bank stock, which are restricted. These restricted securities are accounted for under the cost method and are included in other assets. The Company reviews those assets accounted for under the cost method at least quarterly for possible declines in value that are considered “other than temporary”. The Company’s review typically includes an analysis of the facts and circumstances of each investment, the expectations for the investment’s cash flows and capital needs, the viability of its business model and any exit strategy. The asset value is reduced when a decline in value is considered to be other than temporary. The Company recognizes the estimated loss in noninterest income. Loans. Loans are stated at the principal amount outstanding, net of unearned discount and unamortized deferred fees and costs. Interest is accrued daily on the outstanding principal balances. Loans which are more than 90 days delinquent with respect to interest or principal, unless they are well secured and in the process of collection, and other loans on which full recovery of principal or interest is in doubt, are placed on nonaccrual status. Interest previously accrued on loans placed on nonaccrual status is charged against interest income. In addition, some loans secured by real estate with temporarily impaired values and commercial loans to borrowers experiencing financial difficulties are placed on nonaccrual status (“performing nonaccrual loans”) even though the borrowers continue to repay the loans as scheduled. When the ability to fully collect nonaccrual loan principal is in doubt, payments received are applied against the principal balance of the loans on a cost-recovery method until such time as full collection of the remaining recorded balance is expected. Any additional interest payments received after that time are recorded as interest income on a cash basis. Performing nonaccrual loans are reinstated to accrual status when improvements in credit quality eliminate the doubt as to the full collectability of both interest and principal. Certain consumer loans or auto receivables are charged off against the allowance for credit losses when they become 120 days past due. The Company evaluates all classified loans and nonaccrual loans with outstanding principal balances in excess of $500 thousand, and all “troubled debt restructured” loans for impairment. The Company recognizes a loan as impaired when, based on current information and events, it is probable that it will be unable to collect both the contractual interest and principal payments as scheduled in the loan agreement. Income recognition on impaired loans conforms to that used on nonaccrual loans. In certain circumstances, the Company might agree to restructured loan terms with borrowers experiencing financial difficulties; such restructured loans are evaluated under ASC 310-40, “Troubled Debt Restructurings by Creditors.” In general, a restructuring constitutes a troubled debt restructuring when the Company, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower it would not otherwise consider. Loans are evaluated on an individual basis. The Company follows its general nonaccrual policy for troubled debt restructurings. Performing troubled debt restructurings are reinstated to accrual status when improvements in credit quality eliminate the doubt as to full collectability of both principal and interest. Nonrefundable fees and certain costs associated with originating or acquiring loans are deferred and amortized as an adjustment to interest income over the contractual loan lives. Upon prepayment, unamortized loan fees, net of costs, are immediately recognized in interest income. Other fees, including those collected upon principal prepayments, are included in interest income when received. Loans held for sale are identified upon origination and are reported at the lower of cost or market value on an aggregate loan basis. Purchased Loans. Purchased loans are recorded at estimated fair value on the date of purchase. Impaired purchased loans are accounted for under FASB ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, when the loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the Company will not collect all contractually required principal and interest payments. Evidence of credit quality deterioration as of the purchase date may include attributes such as past due and nonaccural status. Generally, purchased loans that meet the Company’s definition for nonaccrual status fall within the scope of FASB ASC 310-30. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent increases in cash flows result in a reversal of the provision for loan losses to the extent of prior charges, or a reclassification of the difference from nonaccretable to accretable with a positive impact on interest income on a prospective basis. Any excess of expected cash flows over the estimated fair value is referred to as the accretable yield and is recognized into interest income over the remaining life of the loan when there is a reasonable expectation about the amount and timing of such cash flows. For covered purchased loans with an accretable difference, the corresponding FDIC receivable is amortized over the shorter of the contractual term of the indemnification asset or the remaining life of the loan. Further, the Company elected to analogize to ASC 310-30 and account for all other loans that had a discount due in part to credit not within the scope of ASC 310-30 using the same methodology. Covered Loans. Allowance for Credit Losses. The Company extends loans to commercial and consumer customers in Northern and Central California. These lending activities expose the Company to the risk borrowers will default, causing loan losses. The Company’s lending activities are exposed to various qualitative risks. All loan segments are exposed to risks inherent in the economy and market conditions. Significant risk characteristics related to the commercial loan segment include the borrowers’ business performance and financial condition, and the value of collateral for secured loans. Significant risk characteristics related to the commercial real estate segment include the borrowers’ business performance and the value of properties collateralizing the loans. Significant risk characteristics related to the construction loan segment include the borrowers’ performance in successfully developing the real estate into the intended purpose and the value of the property collateralizing the loans. Significant risk characteristics related to the residential real estate segment include the borrowers’ financial wherewithal to service the mortgages and the value of the property collateralizing the loans. Significant risk characteristics related to the consumer loan segment include the financial condition of the borrowers and the value of collateral securing the loans. The preparation of these financial statements requires Management to estimate the amount of probable incurred losses inherent in the loan portfolio and establish an allowance for credit losses. The allowance for credit losses is established by assessing a provision for loan losses against the Company’s earnings. In estimating credit losses, Management must exercise significant judgment in evaluating information deemed relevant, such as financial information regarding individual borrowers, overall credit loss experience, the amount of past due, nonperforming and classified loans, recommendations of regulatory authorities, prevailing economic conditions and other information. The amount of ultimate losses on the loan portfolio can vary from the estimated amounts. Management follows a systematic methodology to estimate loss potential in an effort to reduce the differences between estimated and actual losses. The allowance for credit losses is established through provisions for credit losses charged to income. Losses on loans, including impaired loans, are charged to the allowance for loan losses when all or a portion of the recorded amount of a loan is deemed to be uncollectible. Recoveries of loans previously charged off are credited to the allowance when realized. The Company’s allowance for credit losses is maintained at a level considered adequate to provide for losses that can be estimated based upon specific and general conditions. These include conditions unique to individual borrowers, as well as overall credit loss experience, the amount of past due, nonperforming and classified loans, recommendations of regulatory authorities, prevailing economic conditions, FDIC loss-sharing or similar credit protection agreements and other factors. A portion of the allowance is specifically allocated to impaired loans whose full collectability is uncertain. Such allocations are determined by Management based on loan-by-loan analyses. The Company evaluates all classified loans and nonaccrual loans with outstanding principal balances in excess of $500 thousand, and all “troubled debt restructured” loans for impairment. A second allocation is based in part on quantitative analyses of historical credit loss experience. The results of this analysis are applied to current loan balances to allocate the reserve to the respective segments of the loan portfolio exclusive of loans individually evaluated for impairment. In addition, consumer installment loans which have similar characteristics and are not usually criticized using regulatory guidelines are analyzed and reserves established based on the historical loss rates and delinquency trends, grouped by the number of days the payments on these loans are delinquent. The remainder of the reserve is considered to be unallocated. The unallocated allowance is established to provide for probable losses that have been incurred as of the reporting date but not reflected in the allocated allowance. It addresses additional qualitative factors consistent with Management’s analysis of the level of risks inherent in the loan portfolio, which are related to the risks of the Company’s general lending activity. Included in the unallocated allowance is the risk of losses that are attributable to national or local economic or industry trends which have occurred but have not yet been recognized in past loan charge-off history (external factors). The external factors evaluated by the Company include: economic and business conditions, external competitive issues, and other factors. Also included in the unallocated allowance is the risk of losses that are attributable to general attributes of the Company’s loan portfolio and credit administration (internal factors). The internal factors evaluated by the Company include: loan review system, adequacy of lending Management and staff, loan policies and procedures, problem loan trends, concentrations of credit, and other factors. By their nature, these risks are not readily allocable to any specific segment of the loan portfolio in a statistically meaningful manner. Liability for Off-Balance Sheet Credit Exposures. A liability for off-balance sheet credit exposures is established through expense recognition. Off-balance sheet credit exposures relate to letters of credit and unfunded loan commitments for commercial, construction and consumer loans. Historical credit loss factors for commercial, construction and consumer loans are applied to the amount of these off-balance sheet credit exposures to estimate inherent losses. Other Real Estate Owned. Other real estate owned is comprised of property acquired through foreclosure proceedings, acceptances of deeds-in-lieu of foreclosure and, if applicable, vacated bank properties. Losses recognized at the time of acquiring property in full or partial satisfaction of debt are charged against the allowance for credit losses. Other real estate owned is recorded at the fair value of the collateral, generally based upon an independent property appraisal, less estimated disposition costs. Losses incurred subsequent to acquisition due to any decline in annual independent property appraisals are recognized as noninterest expense. Routine holding costs, such as property taxes, insurance and maintenance, and losses from sales and dispositions, are recognized as noninterest expense. Covered Other Real Estate Owned. Other real estate owned covered under loss-sharing agreements with the FDIC is reported exclusive of expected reimbursement cash flows from the FDIC. Upon transferring covered loan collateral to covered other real estate owned status, the covered loan collateral is recorded at fair value, generally based upon an independent property appraisal, less estimated disposition costs with losses charged against acquisition date fair value discounts; the amount of losses exceeding acquisition date fair value discounts are recognized as noninterest expense inclusive of expected reimbursement cash flows from the FDIC. Subsequent losses incurred due to any decline in annual independent property appraisal valuations are recognized as noninterest expense inclusive of expected reimbursement cash flows from the FDIC. Premises and Equipment. Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed substantially on the straight-line method over the estimated useful life of each type of asset. Estimated useful lives of premises and equipment range from 20 to 50 years and from 3 to 20 years, respectively. Leasehold improvements are amortized over the terms of the lease or their estimated useful life, whichever is shorter. Revenue Recognition. The Company recognizes revenue as it is earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. In certain circumstances, noninterest income is reported net of associated expenses that are directly related to variable volume-based sales or revenue sharing arrangements or when the Company acts on an agency basis for others. Intangible Assets. Intangible assets are comprised of goodwill, core deposit intangibles and other identifiable intangibles acquired in business combinations. Intangible assets with definite useful lives are amortized on an accelerated basis over their respective estimated useful lives not exceeding 15 years. If an event occurs that indicates the carrying amount of an intangible asset may not be recoverable, Management reviews the asset for impairment. Any goodwill and any intangible asset acquired in a purchase business combination determined to have an indefinite useful life is not amortized, but is evaluated for impairment annually. The Company has the option to first assess qualitative factors to determine the likelihood of impairment pursuant to FASB ASU 2011-08, Testing for Goodwill Impairment. Impairment of Long-Lived Assets. The Company reviews its long-lived and certain intangible assets for impairment whenever events or changes indicate that the carrying amount of an asset may not be recoverable. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. Income Taxes. The Company and its subsidiaries file consolidated tax returns. The Company accounts for income taxes in accordance with FASB ASC 740, Income Taxes, resulting in two components of income tax expense: current and deferred. Current income tax expense approximates taxes to be paid or refunded for the current period. The Company determines deferred income taxes using the balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and recognizes enacted changes in tax rates and laws in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized subject to Management’s judgment that realization is more likely than not. A tax position that meets the more likely than not recognition threshold is measured to determine the amount of benefit to recognize. The tax position is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon settlement. Interest and penalties are recognized as a component of income tax expense. Stock Options. The Company applies FASB ASC 718 – Compensation – Stock Compensation, to account for stock based awards granted to employees using the fair value method. The Company recognizes compensation expense for restricted performance share grants over the relevant attribution period. Restricted performance share grants have no exercise price, therefore, the intrinsic value is measured using an estimated per share price at the vesting date for each restricted performance share. The estimated per share price is adjusted during the attribution period to reflect actual stock price performance. The Company’s obligation for unvested outstanding restricted performance share grants is classified as a liability until the vesting date due to a cash settlement feature, at which time the issued shares become classified as shareholders’ equity. Extinguishment of Debt. Gains and losses, including fees, incurred in connection with the early extinguishment of debt are charged to current earnings as reductions in noninterest income. Postretirement Benefits. The Company uses an actuarial-based accrual method of accounting for post-retirement benefits. Other. Securities and other property held by the Bank in a fiduciary or agency capacity are not included in the financial statements since such items are not assets of the Company or its subsidiaries. Recently Issued Accounting Standards FASB Accounting Standards Update (ASU) 2016-01 Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, The Company will be required to adopt the ASU provisions on January 1, 2018. Management is evaluating the impact that the ASU will have on the Company’s financial statements. |
Note 2 - Investment Securities
Note 2 - Investment Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 2: Investment Securities An analysis of the amortized cost, gross unrealized gains and losses accumulated in other comprehensive income, and fair value of the available for sale investment securities portfolio follows: Investment Securities Available for Sale Amortized Gross Gross Fair (In thousands) Securities of U.S. Government sponsored entities $ 302,292 $ 255 $ (665 ) $ 301,882 Agency residential mortgage-backed securities (MBS) 208,046 1,407 (6,909 ) 202,544 Non-agency residential MBS 354 16 - 370 Non-agency commercial MBS 2,383 5 (9 ) 2,379 Obligations of states and political subdivisions 148,705 8,861 (57 ) 157,509 Asset-backed securities 2,025 - (22 ) 2,003 FHLMC (1) (2) 775 3,554 - 4,329 Corporate securities 902,308 882 (6,821 ) 896,369 Other securities 2,039 952 (160 ) 2,831 Total $ 1,568,927 $ 15,932 $ (14,643 ) $ 1,570,216 (1) (2) An analysis of the amortized cost, gross unrecognized gains and losses, and fair value of the held to maturity investment securities portfolio follows: Investment Securities Held to Maturity Amortized Gross Gross Fair (In thousands) Securities of U.S. government sponsored entities $ 764 $ - $ - $ 764 Agency residential MBS 595,503 1,810 (4,966 ) 592,347 Non-agency residential MBS 9,667 185 - 9,852 Agency commercial MBS 16,258 20 (274 ) 16,004 Obligations of states and political subdivisions 693,883 13,638 (789 ) 706,732 Total $ 1,316,075 $ 15,653 $ (6,029 ) $ 1,325,699 An analysis of the amortized cost, gross unrealized gains and losses accumulated in other comprehensive income, and fair value of the available for sale investment securities portfolio follows: Investment Securities Available for Sale Amortized Gross Gross Fair (In thousands) U.S. Treasury securities $ 3,500 $ 5 $ - $ 3,505 Securities of U.S. Government sponsored entities 635,278 937 (1,027 ) 635,188 Residential MBS 24,647 1,776 (16 ) 26,407 Commercial MBS 2,923 6 (10 ) 2,919 Residential collateralized mortgage obligations (CMO) 230,347 634 (8,524 ) 222,457 Obligations of states and political subdivisions 171,907 10,015 (123 ) 181,799 Asset-backed securities 8,349 - (36 ) 8,313 FHLMC and FNMA stock 775 4,393 - 5,168 Corporate securities 511,699 2,169 (1,629 ) 512,239 Other securities 2,039 871 (124 ) 2,786 Total $ 1,591,464 $ 20,806 $ (11,489 ) $ 1,600,781 An analysis of the amortized cost, gross unrecognized gains and losses, and fair value of the held to maturity investment securities portfolio follows: At December 31, 2014 Amortized Gross Gross Fair (In thousands) Securities of U.S. government sponsored entities $ 1,066 $ 11 $ - $ 1,077 Residential MBS 59,078 1,183 (137 ) 60,124 Residential CMO 258,325 2,236 (2,381 ) 258,180 Obligations of states and political subdivisions 720,189 11,350 (2,358 ) 729,181 Total $ 1,038,658 $ 14,780 $ (4,876 ) $ 1,048,562 The amortized cost and fair value of investment securities by contractual maturity are shown in the following table s at the dates indicated: At December 31, 2015 Securities Available Securities Held Amortized Fair Amortized Fair (In thousands) Maturity in years: 1 year or less $ 136,717 $ 136,976 $ 20,709 $ 21,354 Over 1 to 5 years 1,049,786 1,044,453 259,556 262,163 Over 5 to 10 years 166,352 173,585 289,568 296,352 Over 10 years 2,475 2,749 124,814 127,627 Subtotal 1,355,330 1,357,763 694,647 707,496 MBS 210,783 205,293 621,428 618,203 Other securities 2,814 7,160 - - Total $ 1,568,927 $ 1,570,216 $ 1,316,075 $ 1,325,699 Securities available for sale at December 31, 2015 with maturity dates over one year but less than five years include $265,921 thousand (fair value) of securities of U.S. Government sponsored entities with call options on dates within one year or less, of which $28,020 thousand have interest coupons which will increase if the issuer does not exercise the call option. At December 31, 2014 Securities Available Securities Held Amortized Fair Amortized Fair (In thousands) Maturity in years: 1 year or less $ 57,891 $ 57,991 $ 15,355 $ 15,855 Over 1 to 5 years 629,200 630,797 228,380 230,248 Over 5 to 10 years 584,872 589,250 285,219 288,631 Over 10 years 58,770 63,006 192,301 195,524 Subtotal 1,330,733 1,341,044 721,255 730,258 MBS and residential CMO 257,917 251,783 317,403 318,304 Other securities 2,814 7,954 - - Total $ 1,591,464 $ 1,600,781 $ 1,038,658 $ 1,048,562 Expected maturities of mortgage-related securities can differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. In addition, such factors as prepayments and interest rates may affect the yield on the carrying value of mortgage-related securities. At December 31, 2015 and December 31, 2014, the Company had no high-risk collateralized mortgage obligations as defined by regulatory guidelines. An analysis of the gross unrealized losses of the available for sale investment securities portfolio follows: Investment Securities Available for Sale No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 8 $ 121,392 $ (665 ) - $ - $ - 8 $ 121,392 $ (665 ) Agency residential MBS 2 12,491 (366 ) 31 161,296 (6,543 ) 33 173,787 (6,909 ) Non-agency commercial MBS 1 1,071 - 1 855 (9 ) 2 1,926 (9 ) Obligations of states and political subdivisions 3 2,728 (18 ) 4 1,644 (39 ) 7 4,372 (57 ) Asset-backed securities - - - 1 2,003 (22 ) 1 2,003 (22 ) Corporate securities 97 548,177 (5,442 ) 25 86,762 (1,379 ) 122 634,939 (6,821 ) Other securities - - - 1 1,840 (160 ) 1 1,840 (160 ) Total 111 $ 685,859 $ (6,491 ) 63 $ 254,400 $ (8,152 ) 174 $ 940,259 $ (14,643 ) An analysis of gross unrecognized losses of the held to maturity investment securities portfolio follows: Investment Securities Held to Maturity No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Agency residential MBS 41 $ 426,317 $ (3,490 ) 13 $ 62,041 $ (1,476 ) 54 $ 488,358 $ (4,966 ) Agency commercial MBS - - - 2 13,951 (274 ) 2 13,951 (274 ) Obligations of states and political subdivisions 55 44,585 (249 ) 54 42,081 (540 ) 109 86,666 (789 ) Total 96 $ 470,902 $ (3,739 ) 69 $ 118,073 $ (2,290 ) 165 $ 588,975 $ (6,029 ) The unrealized losses on the Company’s investment securities were caused by market conditions for these types of investments, particularly changes in risk-free interest rates. The Company evaluates securities on a quarterly basis including changes in security ratings issued by ratings agencies, changes in the financial condition of the issuer, and, for mortgage-backed and asset-backed securities, delinquency and loss information with respect to the underlying collateral, changes in the levels of subordination for the Company’s particular position within the repayment structure and remaining credit enhancement as compared to expected credit losses of the security. Substantially all of these securities continue to be investment grade rated by a major rating agency. In addition to monitoring credit rating agency evaluations, Management performs its own evaluations regarding the credit worthiness of the issuer or the securitized assets underlying asset backed securities. The Company does not intend to sell any investments and has concluded that it is more likely than not that it will not be required to sell the investments prior to recovery of the amortized cost basis. Therefore, the Company does not consider these investments to be other-than-temporarily impaired as of December 31, 2015. The fair values of the investment securities could decline in the future if the general economy deteriorates, inflation increases, credit ratings decline, the issuer’s financial condition deteriorates, or the liquidity for securities declines. As a result, other than temporary impairments may occur in the future. As of December 31, 2015, $738,865 thousand of investment securities were pledged to secure public deposits and short-term borrowed funds. As of December 31, 2014, $757,623 thousand of investment securities were pledged to secure public deposits, short-term borrowed funds and FHLB advances. An analysis of gross unrealized losses of investment securities available for sale follows: Investment Securities Available for Sale No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 15 $ 253,632 $ (989 ) 1 $ 9,963 $ (38 ) 16 $ 263,595 $ (1,027 ) Residential MBS - - - 2 822 (16 ) 2 822 (16 ) Commercial MBS 1 942 (7 ) 1 803 (3 ) 2 1,745 (10 ) Residential CMO - - - 32 205,074 (8,524 ) 32 205,074 (8,524 ) Obligations of states and political subdivisions 7 2,548 (18 ) 17 5,518 (105 ) 24 8,066 (123 ) Asset-backed securities 1 5,008 (7 ) 1 3,305 (29 ) 2 8,313 (36 ) Corporate securities 53 165,026 (1,304 ) 5 34,222 (325 ) 58 199,248 (1,629 ) Other securities - - - 1 1,876 (124 ) 1 1,876 (124 ) Total 77 $ 427,156 $ (2,325 ) 60 $ 261,583 $ (9,164 ) 137 $ 688,739 $ (11,489 ) An analysis of gross unrecognized losses of investment securities held to maturity follows: Investment Securities Held to Maturity No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Residential MBS 4 $ 19,467 $ (132 ) 1 $ 201 $ (5 ) 5 $ 19,668 $ (137 ) Residential CMO 5 13,932 (166 ) 22 119,513 (2,215 ) 27 133,445 (2,381 ) Obligations of states and political subdivisions 103 76,202 (439 ) 138 123,370 (1,919 ) 241 199,572 (2,358 ) Total 112 $ 109,601 $ (737 ) 161 $ 243,084 $ (4,139 ) 273 $ 352,685 $ (4,876 ) The following table provides information about the amount of interest income earned on investment securities which is fully taxable and which is exempt from regular federal income tax: For the Years Ended December 31, 2015 2014 2013 (In thousands) Taxable $ 34,472 $ 24,766 $ 22,201 Tax-exempt from regular federal income tax 23,616 26,387 29,569 Total interest income from investment securities $ 58,088 $ 51,153 $ 51,770 |
Note 3 - Loans and Allowance fo
Note 3 - Loans and Allowance for Credit Losses | 12 Months Ended |
Dec. 31, 2015 | |
Loans And Allowance For Credit Losses [Abstract] | |
Loans And Allowance For Credit Losses [Text Block] | Note 3: Loans and Allowance for Credit Losses A summary of the major categories of loans outstanding is shown in the following tables. At December 31, 2015 Commercial Commercial Construction Residential Consumer Total (In thousands) Originated loans $ 368,117 $ 517,070 $ 2,978 $ 117,631 $ 346,043 $ 1,351,839 Purchased covered loans : Gross purchased covered loans - - - 2,385 11,828 14,213 Purchased loan discount - - - (133 ) (19 ) (152 ) Purchased non-covered loans : Gross purchased non-covered loans 15,620 124,650 973 231 32,454 173,928 Purchased loan discount (989 ) (4,264 ) - (23 ) (1,156 ) (6,432 ) Total $ 382,748 $ 637,456 $ 3,951 $ 120,091 $ 389,150 $ 1,533,396 At December 31, 2014 Commercial Commercial Construction Residential Consumer Total (In thousands) Originated loans $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 1,470,369 Purchased covered loans : Gross purchased covered loans - - - 2,626 14,920 17,546 Purchased loan discount - - - (434 ) (34 ) (468 ) Purchased non-covered loans : Gross purchased non-covered loans 19,166 157,502 2,919 972 41,656 222,215 Purchased loan discount (1,356 ) (6,492 ) (50 ) (262 ) (1,212 ) (9,372 ) Total $ 391,815 $ 718,604 $ 13,872 $ 149,827 $ 426,172 $ 1,700,290 Changes in the carrying amount of impaired purchased loans were as follows: For the Years Ended December 31, 2015 2014 Impaired purchased loans (In thousands) Carrying amount at the beginning of the period $ 4,672 $ 4,936 Reductions during the period (785 ) (264 ) Carrying amount at the end of the period $ 3,887 $ 4,672 Changes in the accretable yield for purchased loans were as follows: For the Years Ended December 31, 2015 2014 Accretable yield: (In thousands) Balance at the beginning of the period $ 2,261 $ 2,505 Reclassification from nonaccretable difference 3,051 5,016 Accretion (4,053 ) (5,260 ) Balance at the end of the period $ 1,259 $ 2,261 Accretion $ (4,053 ) $ (5,260 ) Change in FDIC indemnification 698 1,110 (Increase) in interest income $ (3,355 ) $ (4,150 ) The following summarizes activity in the allowance for loan losses: Allowance for Loan Losses Commercial Commercial Construction Residential Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 5,460 $ 4,245 $ 644 $ 2,241 $ 7,717 $ 2,120 $ - $ 9,058 $ 31,485 Additions: Provision 3,702 356 (512 ) (440 ) 950 (961 ) - (3,095 ) - Deductions: Chargeoffs (756 ) (449 ) - - (3,493 ) (431 ) - - (5,129 ) Recoveries 1,153 72 45 - 1,906 239 - - 3,415 Net loan recoveries (losses) 397 (377 ) 45 - (1,587 ) (192 ) - - (1,714 ) Total allowance for loan losses $ 9,559 $ 4,224 $ 177 $ 1,801 $ 7,080 $ 967 $ - $ 5,963 $ 29,771 Allowance for Credit Losses Commercial Commercial Construction Residential Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 4,005 $ 12,070 $ 602 $ 405 $ 3,198 $ - $ 1,561 $ 9,852 $ 31,693 Additions: Provision 1,095 (7,276 ) 39 1,866 6,864 1,006 - (794 ) 2,800 Deductions: Chargeoffs (1,890 ) (762 ) - (30 ) (4,214 ) (522 ) - - (7,418 ) Recoveries 2,250 213 3 - 1,869 75 - - 4,410 Net loan recoveries (losses) 360 (549 ) 3 (30 ) (2,345 ) (447 ) - - (3,008 ) Indemnification expiration - - - - - 1,561 (1,561 ) - - Balance at end of period 5,460 4,245 644 2,241 7,717 2,120 - 9,058 31,485 Liability for off-balance sheet credit exposure 2,408 - 344 - 437 - - (496 ) 2,693 Total allowance for credit losses $ 7,868 $ 4,245 $ 988 $ 2,241 $ 8,154 $ 2,120 $ - $ 8,562 $ 34,178 FDIC indemnification expired February 6, 2014 for County Bank non-single-family residential collateralized purchased loans; accordingly, such loans have been reclassified from purchased covered loans to purchased non-covered loans as well as the related allowance for credit losses. Allowance for Credit Losses Commercial Commercial Construction Residential Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 6,445 $ 10,063 $ 484 $ 380 $ 3,194 $ - $ 1,005 $ 8,663 $ 30,234 Additions: Provision (1,158 ) 2,813 118 134 1,949 385 2,570 1,189 8,000 Deductions: Chargeoffs (2,857 ) (997 ) - (109 ) (4,097 ) (385 ) (2,286 ) - (10,731 ) Recoveries 1,575 191 - - 2,152 - 272 - 4,190 Net loan losses (1,282 ) (806 ) - (109 ) (1,945 ) (385 ) (2,014 ) - (6,541 ) Balance at end of period 4,005 12,070 602 405 3,198 - 1,561 9,852 31,693 Liability for off-balance sheet credit exposure 1,658 - 37 - 497 - - 501 2,693 Total allowance for credit losses $ 5,663 $ 12,070 $ 639 $ 405 $ 3,695 $ - $ 1,561 $ 10,353 $ 34,386 The allowance for credit losses and recorded investment in loans were evaluated for impairment as follows: Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 4,942 $ 585 $ - $ - $ - $ - $ - $ - $ 5,527 Collectively evaluated for impairment 4,617 3,639 177 1,801 7,080 967 - 5,963 24,244 Purchased loans with evidence of credit deterioration - - - - - - - - - Total $ 9,559 $ 4,224 $ 177 $ 1,801 $ 7,080 $ 967 $ - $ 5,963 $ 29,771 Carrying value of loans: Individually evaluated for impairment $ 12,587 $ 5,541 $ - $ - $ - $ 11,777 $ - $ - $ 29,905 Collectively evaluated for impairment 355,530 511,529 2,978 117,631 346,043 152,038 13,855 - 1,499,604 Purchased loans with evidence of credit deterioration - - - - - 3,681 206 - 3,887 Total $ 368,117 $ 517,070 $ 2,978 $ 117,631 $ 346,043 $ 167,496 $ 14,061 $ - $ 1,533,396 Allowance for Credit Losses and Recorded Investment in Loans Evaluated for Impairment Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans Unallocated Total (In thousands) Allowance for credit losses: Individually evaluated for impairment $ 496 $ - $ - $ - $ - $ - $ - $ - $ 496 Collectively evaluated for impairment 7,372 4,245 988 2,241 8,154 2,120 - 8,562 33,682 Purchased loans with evidence of credit deterioration - - - - - - - - - Total $ 7,868 $ 4,245 $ 988 $ 2,241 $ 8,154 $ 2,120 $ - $ 8,562 $ 34,178 Carrying value of loans: Individually evaluated for impairment $ 11,811 $ 2,970 $ - $ 574 $ 599 $ 12,364 $ - $ - $ 28,318 Collectively evaluated for impairment 362,194 564,624 11,003 146,351 370,243 196,034 16,851 - 1,667,300 Purchased loans with evidence of credit deterioration - - - - - 4,445 227 - 4,672 Total $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 212,843 $ 17,078 $ - $ 1,700,290 The Bank’s customers are small businesses, professionals and consumers. Given the scale of these borrowers, corporate credit rating agencies do not evaluate the borrowers’ financial condition. The Bank maintains a Loan Review Department which reports directly to the Board of Directors. The Loan Review Department performs independent evaluations of loans and assigns credit risk grades to evaluated loans using grading standards employed by bank regulatory agencies. Loans judged to carry lower-risk attributes are assigned a “pass” grade, with a minimal likelihood of loss. Loans judged to carry higher-risk attributes are referred to as “classified loans,” and are further disaggregated, with increasing expectations for loss recognition, as “substandard,” “doubtful,” and “loss.” Loan Review Department evaluations occur every calendar quarter. If the Bank becomes aware of deterioration in a borrower’s performance or financial condition between Loan Review Department examinations, assigned risk grades are re-evaluated promptly. Credit risk grades assigned by the Loan Review Department are subject to review by the Bank’s regulatory authorities during regulatory examinations. The following summarizes the credit risk profile by internally assigned grade: Credit Risk Profile by Internally Assigned Grade At December 31, 2015 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans (1) Total (In thousands) Grade: Pass $ 353,474 $ 496,744 $ 2,978 $ 114,525 $ 344,876 $ 149,100 $ 12,563 $ 1,474,260 Substandard 14,643 20,326 - 3,106 781 24,810 1,650 65,316 Doubtful - - - - 12 18 - 30 Loss - - - - 374 - - 374 Purchased loan discount - - - - - (6,432 ) (152 ) (6,584 ) Total $ 368,117 $ 517,070 $ 2,978 $ 117,631 $ 346,043 $ 167,496 $ 14,061 $ 1,533,396 (1) Credit Risk Profile by Internally Assigned Grade At December 31, 2014 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans (1) Total (In thousands) Grade: Pass $ 366,487 $ 527,980 $ 11,003 $ 144,902 $ 369,618 $ 182,644 $ 15,509 $ 1,618,143 Substandard 7,506 39,614 - 2,023 734 39,473 2,037 91,387 Doubtful 12 - - - 12 77 - 101 Loss - - - - 478 21 - 499 Purchased loan discount - - - - - (9,372 ) (468 ) (9,840 ) Total $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 212,843 $ 17,078 $ 1,700,290 (1) The following tables summarize loans by delinquency and nonaccrual status: Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2015 Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 365,450 $ 1,777 $ 122 $ - $ 768 $ 368,117 Commercial real estate 504,970 5,930 726 - 5,444 517,070 Construction 2,978 - - - - 2,978 Residential real estate 115,575 1,202 414 - 440 117,631 Consumer installment and other 341,566 3,263 919 295 - 346,043 Total originated loans 1,330,539 12,172 2,181 295 6,652 1,351,839 Purchased non-covered loans 158,554 589 7 - 8,346 167,496 Purchased covered loans 13,929 132 - - - 14,061 Total $ 1,503,022 $ 12,893 $ 2,188 $ 295 $ 14,998 $ 1,533,396 Summary of Loans by Delinquency and Nonaccrual Status Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 372,235 $ 1,704 $ 36 $ - $ 30 $ 374,005 Commercial real estate 557,041 6,500 - - 4,053 567,594 Construction 11,003 - - - - 11,003 Residential real estate 144,021 1,513 817 - 574 146,925 Consumer installment and other 365,753 3,310 625 502 652 370,842 Total originated loans 1,450,053 13,027 1,478 502 5,309 1,470,369 Purchased non-covered loans 196,150 4,204 491 - 11,998 212,843 Purchased covered loans 16,389 389 3 - 297 17,078 Total $ 1,662,592 $ 17,620 $ 1,972 $ 502 $ 17,604 $ 1,700,290 The following is a summary of the effect of nonaccrual loans on interest income: For the Years Ended December 31, 2015 2014 2013 Interest income that would have been recognized had the loans performed in accordance with their original terms $ 1,277 $ 1,146 $ 1,866 Interest income recognized on nonaccrual loans (362 ) (60 ) (402 ) Total reduction of interest income $ 915 $ 1,086 $ 1,464 There were no commitments to lend additional funds to borrowers whose loans were on nonaccrual status at December 31, 2015 and December 31, 2014. The following summarizes impaired loans: Impaired Loans Recorded Unpaid Balance Related (In thousands) Impaired loans with no related allowance recorded: Commercial $ 2,917 $ 2,979 $ - Commercial real estate 16,309 21,168 - Construction 271 271 - Residential real estate 666 697 - Consumer installment and other 350 456 - Impaired loans with an allowance recorded: Commercial 10,170 10,170 4,942 Commercial real estate 4,660 5,109 585 Construction - - - Residential real estate - - - Consumer installment and other - - - Total: Commercial $ 13,087 $ 13,149 $ 4,942 Commercial real estate 20,969 26,277 585 Construction 271 271 - Residential real estate 666 697 - Consumer installment and other 350 456 - Impaired Loans Recorded Investment Unpaid Balance Related Allowance (In thousands) Impaired loans with no related allowance recorded: Commercial $ 2,031 $ 2,095 $ - Commercial real estate 19,478 25,519 - Construction 1,834 1,884 - Residential real estate 574 574 - Consumer installment and other 1,518 1,628 - Impaired loans with an allowance recorded: Commercial 9,910 9,910 496 Commercial real estate - - - Construction - - - Residential real estate - - - Consumer installment and other - - - Total: Commercial $ 11,941 $ 12,005 $ 496 Commercial real estate 19,478 25,519 - Construction 1,834 1,884 - Residential real estate 574 574 - Consumer installment and other 1,518 1,628 - Impaired loans include troubled debt restructured loans. Impaired loans at December 31, 2015, included $15,712 thousand of restructured loans, $7,464 thousand of which were on nonaccrual status. Impaired loans at December 31, 2014, included $4,837 thousand of restructured loans, none of which were on nonaccrual status. Impaired Loans 2015 2014 2013 Average Recognized Income Average Recognized Average Recognized (In thousands) Commercial $ 12,631 $ 584 $ 5,240 $ 325 $ 10,566 $ 222 Commercial real estate 20,307 674 19,880 469 27,186 763 Construction 263 - 2,015 - 2,400 80 Residential real estate 643 31 153 - 362 - Consumer installment and other 739 25 1,399 29 1,469 38 Total $ 34,583 $ 1,314 $ 28,687 $ 823 $ 41,983 $ 1,103 The following table provides information on troubled debt restructurings: Troubled Debt Restructurings Number of Pre-Modification Period-End Period-End (In thousands) Commercial 6 $ 3,138 $ 2,802 $ 194 Commercial real estate 10 12,927 12,684 - Residential real estate 1 242 226 - Total 17 $ 16,307 $ 15,712 $ 194 Troubled Debt Restructurings Number of Pre-Modification Period-End Period-End (In thousands) Commercial 3 $ 2,075 $ 1,901 $ - Commercial real estate 4 2,890 2,928 - Consumer installment and other 1 18 8 - Total 8 $ 4,983 $ 4,837 $ - Troubled Debt Restructurings Number of Pre-Modification Period-End Period-End (In thousands) Commercial 4 $ 3,427 $ 3,164 $ - Commercial real estate 2 2,291 2,289 - Total 6 $ 5,718 $ 5,453 $ - During the year ended December 31, 2015, the Company modified ten loans with a carrying value of $11,026 thousand that were considered troubled debt restructurings. The concessions granted in the restructurings completed in 2015 consisted of four under-market terms and modification of payment terms to extend the maturity date to allow for deferred principal repayment and six court orders. During the year ended December 31, 2014, the Company modified five loans with a total carrying value of $713 thousand that were considered troubled debt restructurings. The concessions granted in the five restructurings completed in 2014 consisted of modification of payment terms to extend the maturity date to allow for deferred principal repayment. During the year ended December 31, 2013, the Company modified five loans with a total carrying value of $4,966 thousand that were considered troubled debt restructurings. The concessions granted in the five restructurings completed in 2013 consisted of modification of payment terms to lower the interest rate and extend the maturity date to allow for deferred principal repayment. During the years ended December 31, 2015 and 2014, no troubled debt restructured loans defaulted within 12 months of the modification date. During the year ended December 31, 2013 a commercial real estate loan with a carrying value of $3,954 thousand defaulted within 12 months of the modification date. A troubled debt restructuring is considered to be in default when payments are ninety days or more past due. The Company repaid $20,015 thousand of Federal Home Loan Bank (“FHLB”) advances in January 2015, which had been collateralized by loans; the collateral requirements expired upon repayment of the debt. At December 31, 2014, the Company pledged loans to secure borrowings with a carrying value of $20,015 thousand from the FHLB. The loans restricted due to collateral requirements approximated $18,366 thousand at December 31, 2014. There were no loans held for sale at December 31, 2015 and December 31, 2014. At December 31, 2015 and December 31, 2014, the Company held total other real estate owned (OREO) of $9,264 thousand net of reserve of $1,986 thousand and $6,374 thousand net of reserve of $2,390 thousand, respectively, of which $0 thousand and $0 thousand, respectively, were foreclosed residential real estate properties. The amount of consumer mortgage loans outstanding secured by residential real estate properties for which formal foreclosure proceedings were in process totaled $0 thousand and $967 thousand at December 31, 2015 and December 31, 2014, respectively. |
Note 4 - Concentration of Credi
Note 4 - Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2015 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | Note 4: Concentration of Credit Risk Under the California Financial Code, credit extended to any one person owing to a commercial bank at any one time shall not exceed the following limitations: (a) unsecured loans shall not exceed 15 percent of the sum of the shareholders' equity, allowance for loan losses, capital notes, and debentures of the bank, or (b) secured and unsecured loans in all shall not exceed 25 percent of the sum of the shareholders' equity, allowance for loan losses, capital notes, and debentures of the bank. At December 31, 2015, Westamerica Bank did not have credit extended to any one entity exceeding these limits. At December 31, 2015, Westamerica Bank had 38 lending relationships with aggregate loans exceeding $5 million. The Company has significant credit arrangements that are secured by real estate collateral. In addition to real estate loans outstanding as disclosed in Note 3, the Company had loan commitments related to real estate loans of $61,190 thousand and $66,086 thousand at December 31, 2015 and December 31, 2014, respectively. The Company requires collateral on all real estate loans with loan-to-value ratios at origination generally no greater than 75% on commercial real estate loans and no greater than 80% on residential real estate loans. At December 31, 2015, Westamerica Bank held corporate bonds in 47 issuing entities which exceeded $5 million of each issuer. |
Note 5 - Premises, Equipment an
Note 5 - Premises, Equipment and Other Assets | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Other Assets Disclosure [Text Block] | Note 5: Premises, Equipment and Other Assets Premises and equipment consisted of the following: At December 31, Cost Accumulated Net Book Value (In thousands) 2015 Land $ 11,896 $ - $ 11,896 Building and improvements 40,795 (24,024 ) 16,771 Leasehold improvements 5,696 (4,628 ) 1,068 Furniture and equipment 24,266 (15,308 ) 8,958 Total $ 82,653 $ (43,960 ) $ 38,693 2014 Land $ 11,933 $ - $ 11,933 Building and improvements 40,939 (23,267 ) 17,672 Leasehold improvements 5,742 (4,664 ) 1,078 Furniture and equipment 21,438 (14,269 ) 7,169 Total $ 80,052 $ (42,200 ) $ 37,852 Depreciation and amortization of premises and equipment included in noninterest expense amounted to $3,523 thousand in 2015, $3,177 thousand in 2014 and $3,001 thousand in 2013. Other assets consisted of the following: At December 31, 2015 2014 (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,069 $ 14,069 Federal Home Loan Bank stock (2) - 940 Other investments 201 241 Total cost method equity investments 14,270 15,250 Life insurance cash surrender value 48,972 46,479 Net deferred tax asset 51,748 50,903 Limited partnership investments 15,259 18,673 Interest receivable 20,174 19,394 Prepaid assets 4,771 5,609 Other assets 10,660 10,150 Total other assets $ 165,854 $ 166,458 (1) (2) The Company invests in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for low-income housing tax credits. At December 31, 2015, this investment totaled $15,259 thousand and $2,299 thousand of this amount represents outstanding equity capital commitments. At December 31, 2014, this investment totaled $18,673 thousand and $2,460 thousand of this amount represents outstanding equity capital commitments. At December 31, 2015, the $2,299 thousand of outstanding equity capital commitments are expected to be paid as follows, $453 thousand in 2016, $763 thousand in 2017, and $1,083 thousand in 2018, or thereafter. The amounts recognized in net income for these investments include: For the Years Ended December 31, 2015 2014 2013 (In thousands) Investment loss included in pre-tax income $ 2,850 $ 2,950 $ 3,450 Tax credits recognized in provision for income taxes 2,650 2,825 3,425 |
Note 6 - Goodwill and Identifia
Note 6 - Goodwill and Identifiable Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 6: Goodwill and Identifiable Intangible Assets The Company has recorded goodwill and other identifiable intangibles associated with purchase business combinations. Goodwill is not amortized, but is evaluated for impairment at least annually. The Company did not recognize impairment during the years ended December 31, 2015 and December 31, 2014. Identifiable intangibles are amortized to their estimated residual values over their expected useful lives. Such lives and residual values are also periodically reassessed to determine if any amortization period adjustments are indicated. During the years ended December 31, 2015 and December 31, 2014, no such adjustments were recorded. The carrying values of goodwill were: At December 31, 2015 2014 (In thousands) Goodwill $ 121,673 $ 121,673 The gross carrying amount of identifiable intangible assets and accumulated amortization was: At December 31, 2015 At December 31, 2014 Gross Carrying Accumulated Amortization Gross Carrying Accumulated Amortization (In thousands) Core Deposit Intangibles $ 56,808 $ (46,782 ) $ 56,808 $ (43,188 ) Merchant Draft Processing Intangible 10,300 (9,895 ) 10,300 (9,633 ) Total Identifiable Intangible Assets $ 67,108 $ (56,677 ) $ 67,108 $ (52,821 ) As of December 31, 2015, the current year and estimated future amortization expense for identifiable intangible assets was: Core Merchant Total (In thousands) For the Year ended December 31, 2015 (actual) $ 3,594 $ 262 $ 3,856 Estimate for year ended December 31, 2016 3,292 212 3,504 2017 2,913 164 3,077 2018 1,892 29 1,921 2019 538 - 538 2020 287 - 287 |
Note 7 - Deposits and Borrowed
Note 7 - Deposits and Borrowed Funds | 12 Months Ended |
Dec. 31, 2015 | |
Deposits And Borrowed Funds [Abstract] | |
Deposits And Borrowed Funds [Text Block] | Note 7: Deposits and Borrowed Funds The following table provides additional detail regarding deposits. Deposits 2015 2014 (In thousands) Noninterest-bearing $ 2,026,049 $ 1,910,781 Interest-bearing: Transaction 860,706 792,448 Savings 1,366,936 1,260,819 Time deposits less than $100 thousand 150,780 169,959 Time deposits $100 thousand through $250 thousand 96,971 113,023 Time deposits more than $250 thousand 39,217 102,161 Total deposits $ 4,540,659 $ 4,349,191 Demand deposit overdrafts of $3,038 thousand and $3,173 thousand were included as loan balances at December 31, 2015 and December 31, 2014, respectively. Interest expense for aggregate time deposits with individual account balances in excess of $100 thousand was $687 thousand in 2015, $893 thousand in 2014 and $1,096 thousand in 2013. The following table provides additional detail regarding short-term borrowed funds. Repurchase Agreements (Sweep) At December 31, 2015 2014 Remaining Contractual Maturity of the Agreements Overnight and Continuous Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ 98,969 $ 80,827 Obligations of states and political subdivisions 3,975 14,251 Corporate securities 54,681 52,936 Total collateral carrying value $ 157,625 $ 148,014 Total short-term borrowed funds $ 53,028 $ 89,784 FHLB advances matured and were repaid in full in January 2015. At December 31, 2014, FHLB advances with a carrying value of $20,015 thousand were secured by residential real estate loans and securities of approximately $26,484 thousand. The Company has a $35,000 thousand unsecured line of credit which had no outstanding balance at December 31, 2015 and December 31, 2014. The line of credit has a variable interest rate, which was 2.25% per annum at December 31, 2015, with interest payable monthly on outstanding advances. Advances may be made up to the unused credit limit through March 18, 2016. The following table summarizes deposits and borrowed funds of the Company for the periods indicated: Balance at Average Balance Weighted Average Balance at Average Balance Weighted Average ($ in thousands) Time deposits over $100 thousand $ 136,188 $ 161,710 0.42 % $ 215,184 $ 237,002 0.38 % Securities sold under repurchase agreements 53,028 75,046 0.07 % 89,784 70,244 0.07 % Federal Home Loan Bank advances - 494 0.20 % 20,015 20,308 2.00 % Term repurchase agreement - - - - 6,082 0.99 % Federal funds purchased - 8 0.48 % - 8 0.48 % For the Years Ended December 31, 2015 2014 Highest Balance at Any Month-end (In thousands) Securities sold under repurchase agreements $ 89,484 $ 89,784 Federal Home Loan Bank advances - 20,530 Term repurchase agreement - 10,000 |
Note 8 - Shareholders' Equity
Note 8 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Note 8: Shareholders’ Equity The Company grants stock options and restricted performance shares to employees in exchange for employee services, pursuant to the shareholder-approved 1995 Stock Option Plan, which was last amended and restated in 2012. Nonqualified stock option grants (“NQSO”) are granted with an exercise price equal to the fair market value of the related common stock on the grant date. NQSO generally become exercisable in equal annual installments over a three-year period with each installment vesting on the anniversary date of the grant. Each NQSO has a maximum ten-year term. A restricted performance share grant becomes vested after three years of being awarded, provided the Company has attained its performance goals for such three-year period. The following table summarizes information about stock options granted under the Plan as of December 31, 2015. The intrinsic value is calculated as the difference between the market value as of December 31, 2015 and the exercise price of the shares. The market value as of December 31, 2015 was $46.75 as reported by the NASDAQ Global Select Market: Options Outstanding Options Exercisable At December 31, 2015 For the Year Ended December 31, 2015 At December 31, 2015 For the Year Ended December 31, 2015 Range of Exercise Price Number Outstanding Aggregate Intrinsic Value Weighted Average Remaining Contractual Life Weighted Average Exercise Price Number Outstanding Aggregate Intrinsic Value Weighted Average Remaining Contractual Life Weighted Average Exercise Price (In thousands) (Years) (In thousands) (Years) $40 - 45 487 $ 1,792 7.9 $ 43 133 $ 432 5.8 $ 44 45 - 50 228 86 3.7 47 228 85 3.7 47 50 - 55 671 - 4.8 52 532 - 4.0 51 55 - 60 163 - 4.1 57 163 - 4.1 57 $40 - 60 1,549 $ 1,878 5.5 49 1,056 $ 517 4.2 50 The Company applies the Roll-Geske option pricing model (Modified Roll) to determine grant date fair value of stock option grants. This model modifies the Black-Scholes Model to take into account dividends and American options. During the twelve months ended December 31, 2015, 2014 and 2013, the Company granted 343 thousand, 294 thousand and 322 thousand stock options, respectively. The following weighted average assumptions were used in the option pricing to value stock options granted in the periods indicated: For the Years Ended December 31, 2015 2014 2013 Expected volatility (1) 20 % 16 % 17 % Expected life in years (2) 4.9 4.9 4.8 Risk-free interest rate 1.36 % 1.59 % 0.74 % Expected dividend yield (3) 3.64 % 3.32 % 3.57 % Fair value per award $ 5.46 $ 5.91 $ 4.61 (1) Measured using daily price changes of Company’s stock over respective expected term of the option and the implied volatility derived from the market prices of the Company’s stock and traded options. (2) The number of years that the Company estimates that the options will be outstanding prior to exercise. (3) The risk-free rate over the expected life based on the US Treasury yield curve in effect at the time of the grant. Employee stock option grants are being expensed by the Company over the grants’ three year vesting period. The Company issues new shares upon the exercise of options. The number of shares authorized to be issued for options at December 31, 2015 is 1,453 thousand. A summary of option activity during the year ended December 31, 2015 is presented below: Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In thousands) (Years) Outstanding at January 1, 2015 1,889 $ 50.31 Granted 343 42.70 Exercised (108 ) 45.09 Forfeited or expired (575 ) 50.71 Outstanding at December 31, 2015 1,549 48.83 5.5 Exercisable at December 31, 2015 1,056 50.23 4.2 A summary of the Company’s nonvested option activity during the year ended December 31, 2015 is presented below: Shares Weighted Average Grant Date Fair Value (In thousands) Nonvested at January 1, 2015 499 $ 5.40 Granted 343 5.46 Vested (247 ) 5.34 Forfeited (102 ) 5.45 Nonvested at December 31, 2015 493 $ 5.45 The weighted average estimated grant date fair value for options granted under the Company’s stock option plan during the twelve months ended December 31, 2015, 2014 and 2013 was $5.46, $5.91 and $4.61 per share, respectively. The total remaining unrecognized compensation cost related to nonvested awards as of December 31, 2015 is $1,422 thousand and the weighted average period over which the cost is expected to be recognized is 1.8 years. The total intrinsic value of options exercised during the twelve months ended December 31, 2015, 2014 and 2013 was $504 thousand, $1,309 thousand and $2,058 thousand, respectively. The total fair value of RPSs that vested during the twelve months ended December 31, 2015, 2014 and 2013 was $741 thousand, $1,115 thousand and $678 thousand, respectively. The total fair value of options vested during the twelve months ended December 31, 2015, 2014 and 2013 was $1,321 thousand, $1,397 thousand and $1,514 thousand, respectively. The decrease in tax benefits recognized for the tax deductions from the exercise of options totaled $1,284 thousand, $447 thousand and $298 thousand, respectively, for the twelve months ended December 31, 2015, 2014 and 2013. A summary of the status of the Company’s restricted performance shares as of December 31, 2015 and 2014 and changes during the twelve months ended on those dates, follows: 2015 2014 (In thousands) Outstanding at January 1, 50 59 Granted 21 17 Issued upon vesting (17 ) (21 ) Forfeited (9 ) (5 ) Outstanding at December 31, 45 50 As of December 31, 2015 and 2014, the restricted performance shares had a weighted-average contractual life of 1.3 years and 1.2 years, respectively. The compensation cost that was charged against income for the Company’s restricted performance shares granted was $535 thousand, $575 thousand and $1,338 thousand for the twelve months ended December 31, 2015, 2014 and 2013, respectively. There were no stock appreciation rights or incentive stock options granted in the twelve months ended December 31, 2015 and 2014. On February 13, 2009, the Company issued a warrant to purchase 246,640 shares of the Company’s common stock at an exercise price of $50.92 per share. The warrants remain outstanding at December 31, 2015. The Company repurchases and retires its common stock in accordance with Board of Directors approved share repurchase programs. At December 31, 2015, approximately 1,727 thousand shares remained available to repurchase under such plans. Shareholders have authorized two additional classes of stock of one million shares each, to be denominated “Class B Common Stock” and “Preferred Stock,” respectively, in addition to the 150 million shares of common stock presently authorized. At December 31, 2015, no shares of Class B Common Stock or Preferred Stock were outstanding. |
Note 9 - Risk-based Capital
Note 9 - Risk-based Capital | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 9: Risk-Based Capital The Company and the Bank were well capitalized under the regulatory framework effective January 1, 2015. To be well capitalized, the institution must maintain a total risk-based capital ratio as set forth in the following table and not be subject to a capital directive order. As of December 31, 2015, the Company and the Bank met all capital adequacy requirements to which they are subject. On July 2, 2013, the Federal Reserve Board approved a final rule that implements changes to the regulatory capital framework for all banking organizations. The rule’s provisions which most affected the regulatory capital requirements of the Company and the Bank: · Introduced a new “Common Equity Tier 1” capital measurement, · Established higher minimum levels of capital, · Introduced a “capital conservation buffer,” · Increased the risk-weighting of certain assets, and · Established limits on the amount of deferred tax assets with any excess treated as a deduction from Tier 1 capital. Under the final rule, a banking organization that is not subject to the “advanced approaches rule” may make a one-time election not to include most elements of Accumulated Other Comprehensive Income, including net-of-tax unrealized gains and losses on available for sale investment securities, in regulatory capital. Neither the Company nor the Bank are subject to the “advanced approaches rule” and made the election not to include most elements of Accumulated Other Comprehensive Income in regulatory capital. Banking organizations that are not subject to the “advanced approaches rule” began complying with the final rule on January 1, 2015; on such date, the Company and the Bank became subject to the revised definitions of regulatory capital, the new minimum regulatory capital ratios, and various regulatory capital adjustments and deductions according to transition provisions and timelines. All banking organizations began calculating standardized total risk-weighted assets on January 1, 2015. The transition period for the capital conservation buffer for all banking organizations will begin on January 1, 2016 and end January 1, 2019. Any bank subject to the rule which is unable to maintain its “capital conservation buffer” will be restricted in the payment of discretionary executive compensation and shareholder distributions, such as dividends and share repurchases. The final rule did not supersede provisions of the Federal Deposit Insurance Corporation Improvement Act (FDICIA) requiring federal banking agencies to take prompt corrective action (PCA) to resolve problems of insured depository institutions. The final rule revised the PCA thresholds to incorporate the higher minimum levels of capital, including the newly proposed “common equity tier 1” ratio. The capital ratios for the Company and the Bank under the new capital framework are presented in the table below. At December 31, 2015 Transitional Minimum Well-capitalized by Amount Ratio Amount Ratio Amount Ratio ($ in thousands) Common Equity Tier 1 Capital Company 402,876 12.82 % 141,417 4.50 % N/A N/A Bank 340,918 11.00 % 139,412 4.50 % 201,373 6.50 % Tier 1 Capital Company 402,876 12.82 % 188,557 6.00 % N/A N/A Bank 340,918 11.00 % 185,883 6.00 % 247,844 8.00 % Total Capital Company 420,731 13.39 % 251,409 8.00 % N/A N/A Bank 361,880 11.68 % 247,844 8.00 % 309,805 10.00 % Leverage Ratio 1 Company 402,876 7.99 % 201,606 4.00 % N/A N/A Bank 340,918 6.82 % 199,919 4.00 % 249,899 5.00 % 1 The following summarizes the ratios of regulatory capital to risk-adjusted assets under the superseded capital framework on the date indicated: At December 31, 2014 Minimum Well-capitalized by Amount Ratio Amount Ratio Amount Ratio ($ in thousands) Tier 1 Capital Company 391,121 13.30 % 117,644 4.00 % 176,467 6.00 % Bank 349,120 12.04 % 116,018 4.00 % 174,027 6.00 % Total Capital Company 427,612 14.54 % 235,289 8.00 % 294,111 10.00 % Bank 391,219 13.49 % 232,036 8.00 % 290,045 10.00 % Leverage Ratio 1 Company 391,121 7.95 % 196,809 4.00 % 246,011 5.00 % Bank 349,120 7.16 % 195,149 4.00 % 243,936 5.00 % 1 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Note 10: Income Taxes Deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the amounts reported in the financial statements of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Amounts for the current year are based upon estimates and assumptions as of the date of these financial statements and could vary significantly from amounts shown on the tax returns as filed. The components of the net deferred tax asset are as follows: At December 31, 2015 2014 (In thousands) Deferred tax asset Allowance for credit losses $ 13,466 $ 14,220 State franchise taxes 2,612 2,867 Deferred compensation 8,082 7,839 Real estate owned 1,062 1,041 Purchased assets and assumed liabilities 4,975 6,389 Post-retirement benefits 1,072 1,097 Employee benefit accruals 3,772 4,692 VISA Class B shares 1,691 1,706 Limited partnership investments 760 1,332 Impaired capital assets 19,074 18,941 Leases - 84 Premises and equipment 205 538 Other 397 730 Subtotal deferred tax asset 57,168 61,476 Valuation allowance - - Total deferred tax asset 57,168 61,476 Deferred tax liability Net deferred loan fees 456 461 Intangible assets 4,294 5,770 Securities available for sale 542 3,919 Other 128 423 Total deferred tax liability 5,420 10,573 Net deferred tax asset $ 51,748 $ 50,903 Based on Management’s judgment, a valuation allowance is not needed to reduce the gross deferred tax asset because it is more likely than not that the gross deferred tax asset will be realized through recoverable taxes or future taxable income. Net deferred tax assets are included with other assets in the Consolidated Balance Sheets. The provision for federal and state income taxes consists of amounts currently payable and amounts deferred are as follows: For the Years Ended December 31, 2015 2014 2013 (In thousands) Current income tax expense: Federal $ 9,647 $ 11,950 $ 13,975 State 6,738 7,802 8,597 Total current 16,385 19,752 22,572 Deferred income tax expense (benefit): Federal 1,643 (1,220 ) (2,518 ) State (109 ) (225 ) (1,109 ) Total deferred 1,534 (1,445 ) (3,627 ) Provision for income taxes $ 17,919 $ 18,307 $ 18,945 The provision for income taxes differs from the provision computed by applying the statutory federal income tax rate to income before taxes, as follows: For the Years Ended December 31, 2015 2014 2013 (In thousands) Federal income taxes due at statutory rate $ 26,835 $ 27,634 $ 30,142 Reductions in income taxes resulting from: Interest on state and municipal securities and loans not taxable for federal income tax purposes (9,046 ) (10,173 ) (11,565 ) State franchise taxes, net of federal income tax benefit 4,309 4,925 4,712 Tax credits (2,600 ) (2,700 ) (3,190 ) Dividend received deduction (45 ) (39 ) (32 ) Cash value life insurance (599 ) (641 ) (747 ) Other (935 ) (699 ) (375 ) Provision for income taxes $ 17,919 $ 18,307 $ 18,945 At December 31, 2015, the company had no net operating loss and general tax credit carryforwards for tax return purposes. A reconciliation of the beginning and ending amounts of unrecognized tax benefits follow: 2015 2014 (In thousands) Balance at January 1, $ 1,635 $ 1,437 Additions for tax positions taken in the current period - 245 Reductions for tax positions taken in the current period - - Additions for tax positions taken in prior years 55 - Reductions for tax positions taken in prior years (447 ) (47 ) Decrease related to settlements with taxing authorities - - Decrease as a result of a lapse in statute of limitations - - Balance at December 31, $ 1,243 $ 1,635 The Company does not anticipate any significant increase or decrease in unrecognized tax benefits during 2016. Unrecognized tax benefits at December 31, 2015 and 2014 include accrued interest and penalties of $88 thousand and $93 thousand, respectively. If recognized, the entire amount of the unrecognized tax benefits would affect the effective tax rate. The Company classifies interest and penalties as a component of the provision for income taxes. The tax years ended December 31, 2015, 2014, 2013 and 2012 remain subject to examination by the Internal Revenue Service. The tax years ended December 31, 2015, 2014, 2013, 2012 and 2011 remain subject to examination by the California Franchise Tax Board. The deductibility of these tax positions will be determined through examination by the appropriate tax jurisdictions or the expiration of the tax statute of limitations. |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Note 11: Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Available for sale investment securities are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as other real estate owned, impaired loans, certain loans held for investment, investment securities held to maturity, and other assets. These nonrecurring fair value adjustments typically involve the lower-of-cost-or-fair value accounting of individual assets. In accordance with the Fair Value Measurement and Disclosure topic of the Codification, the Company bases its fair values on the price that would be received to sell an asset or paid to transfer a liability in the principal market or most advantageous market for an asset or liability in an orderly transaction between market participants on the measurement date under current market conditions. A fair value measurement reflects all of the assumptions that market participants would use in pricing the asset or liability, including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset, and the risk of nonperformance. The Company groups its assets and liabilities measured at fair value into a three-level hierarchy, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. When the valuation assumptions used to measure the fair value of the asset or liability are categorized within different levels of the fair value hierarchy, the asset or liability is categorized in its entirety within the lowest level of the hierarchy. These levels are: Level 1 – Valuation is based upon quoted prices for identical instruments traded in active exchange markets, such as the New York Stock Exchange. Level 1 includes U.S. Treasury and equity securities, which are traded by dealers or brokers in active markets. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 2 includes federal agency securities, mortgage-backed securities, corporate securities, asset-backed securities, municipal bonds and residential collateralized mortgage obligations. Level 3 – Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. The Company relies on independent vendor pricing services to measure fair value for investment securities available for sale and investment securities held to maturity. The Company employs three pricing services. To validate the pricing of these vendors, the Company compares vendors’ pricing for each of the securities for consistency; significant pricing differences, if any, are evaluated using all available independent quotes with the quote closely affecting the market generally used as the fair value estimate. In addition, the Company conducts “other than temporary impairment (OTTI)” analysis on a quarterly basis; securities selected for OTTI analysis include all securities at a market price below 95 percent of par value and with a market to book ratio below 95:100. As with any valuation technique used to estimate fair value, changes in underlying assumptions used could significantly affect the results of current and future values. Accordingly, these fair value estimates may not be realized in an actual sale of the securities. The Company regularly reviews the valuation techniques and assumptions used by its vendors and determines which valuation techniques are utilized based on observable market inputs for the type of securities being measured. The Company uses the information to determine the placement in the fair value hierarchy as level 1, 2 or 3. When the Company changes its valuation assumptions for measuring financial assets and financial liabilities at fair value, either due to changes in current market conditions or other factors, or reevaluates the valuation techniques and assumptions used by its vendors, it may need to transfer those assets or liabilities to another level in the hierarchy based on the new information. The Company recognizes these transfers at the end of the reporting period that the transfers occur. During the quarter ended June 30, 2015, the Company reevaluated the valuation techniques and assumptions used by its vendors in valuing the Company’s available for sale securities, and based on the evaluation, transferred $437,715 thousand out of level 1 and transferred $437,715 thousand into level 2. There were no transfers into level 1 or into or out of level 3. Subsequent to June 30, 2015 and through the year ended December 31, 2015, and the year ended December 31, 2014, there were no transfers into or out of levels 1, 2 or 3. Assets Recorded at Fair Value on a Recurring Basis The tables below present assets measured at fair value on a recurring basis on the dates indicated. At December 31, 2015 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) Securities of U.S. Government sponsored entities $ 301,882 $ - $ 301,882 $ - Agency residential MBS 202,544 - 202,544 - Non-agency residential MBS 370 370 - Agency commercial MBS 2,379 - 2,379 - Obligations of states and political subdivisions 157,509 - 157,509 - Asset-backed securities 2,003 - 2,003 - FHLMC and FNMA stock 4,329 7 4,322 - Corporate securities 896,369 - 896,369 - Other securities 2,831 991 1,840 - Total securities available for sale $ 1,570,216 $ 998 $ 1,569,218 $ - At December 31, 2014 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) U.S. Treasury securities $ 3,505 $ 3,505 $ - $ - Securities of U.S. Government sponsored entities 635,188 635,188 - - Residential MBS 26,407 - 26,407 - Commercial MBS 2,919 - 2,919 - Residential CMO 222,457 - 222,457 - Obligations of states and political subdivisions 181,799 - 181,799 - Asset-backed securities 8,313 - 8,313 - FHLMC and FNMA stock 5,168 5,168 - - Corporate securities 512,239 - 512,239 - Other securities 2,786 910 1,876 - Total securities available for sale $ 1,600,781 $ 644,771 $ 956,010 $ - Assets Recorded at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower-of-cost or fair-value accounting of individual assets. For assets measured at fair value on a nonrecurring basis that were recorded in the balance sheet at December 31, 2015 and December 31, 2014, the following table provides the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets at period end. At December 31, 2015 For the Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 9,264 $ - $ - $ 9,264 $ (320 ) Impaired loans 15,633 - - 15,633 (449 ) Total assets measured at fair value on a nonrecurring basis $ 24,897 $ - $ - $ 24,897 $ (769 ) Level 3 – Valuation is based upon independent market prices, estimated liquidation values of loan collateral or appraised value of the collateral as determined by third-party independent appraisers, less 10% for selling costs, generally. Level 3 includes other real estate owned that has been measured at fair value upon transfer to foreclosed assets and impaired loans collateralized by real property and other business asset collateral where a specific reserve has been established or a chargeoff has been recorded. Losses on other real estate owned represent losses recognized in earnings during the period subsequent to its initial classification as foreclosed assets. The unobservable inputs and qualitative information about the unobservable inputs are not presented due to the unavailability from third party evaluators. At December 31, 2014 For the Fair Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 6,374 $ - $ 6,374 $ - $ (358 ) Impaired loans 17,085 - 7,670 9,415 (884 ) Total assets measured at fair value on a nonrecurring basis $ 23,459 $ - $ 14,044 $ 9,415 $ (1,242 ) Level 2 – Valuation is based upon independent market prices or appraised value of the collateral, less 10% for selling costs, generally. Level 2 includes other real estate owned that has been measured at fair value upon transfer to foreclosed assets and impaired loans collateralized by real property where a specific reserve has been established or a chargeoff has been recorded. Losses on other real estate owned represent losses recognized in earnings during the period subsequent to its initial classification as foreclosed assets. Level 3 – Valuation is based upon estimated liquidation values of loan collateral. The value of level 3 assets can also include a component of real estate, which is valued as described for level 2 inputs, when collateral for the impaired loan includes both business assets and real estate. Level 3 includes impaired loans where a specific reserve has been established or a chargeoff has been recorded. Disclosures about Fair Value of Financial Instruments The following section describes the valuation methodologies used by the Company for estimating fair value of financial instruments not recorded at fair value in the balance sheet. Cash and Due from Banks Investment Securities Held to Maturity Loans Deposit Liabilities Short-Term Borrowed Funds Federal Home Loan Bank Advances The table below is a summary of fair value estimates for financial instruments and the level of the fair value hierarchy within which the fair value measurements are categorized, excluding financial instruments recorded at fair value on a recurring basis. The values assigned do not necessarily represent amounts which ultimately may be realized for assets or paid to settle liabilities. In addition, these values do not give effect to adjustments to fair value which may occur when financial instruments are sold or settled in larger quantities. The carrying amounts in the following table are recorded in the balance sheet under the indicated captions. The Company has not included assets and liabilities that are not financial instruments, such as goodwill, long-term relationships with deposit, merchant processing and trust customers, other purchased intangibles, premises and equipment, deferred taxes and other assets and liabilities. The total estimated fair values do not represent, and should not be construed to represent, the underlying value of the Company. At December 31, 2015 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 433,044 $ 433,044 $ 433,044 $ - $ - Investment securities held to maturity 1,316,075 1,325,699 - 1,325,699 - Loans 1,503,625 1,517,394 - - 1,517,394 Financial Liabilities: Deposits $ 4,540,659 $ 4,539,455 $ - $ 4,253,691 $ 285,764 Short-term borrowed funds 53,028 53,028 - 53,028 - At December 31, 2014 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 380,836 $ 380,836 $ 380,836 $ - $ - Investment securities held to maturity 1,038,658 1,048,562 1,077 1,047,485 - Loans 1,668,805 1,685,048 - - 1,685,048 Financial Liabilities: Deposits $ 4,349,191 $ 4,348,958 $ - $ 3,964,048 $ 384,910 Short-term borrowed funds 89,784 89,784 - 89,784 - Federal Home Loan Bank advances 20,015 20,014 20,014 - - The majority of the Company’s standby letters of credit and other commitments to extend credit carry current market interest rates if converted to loans. No premium or discount was ascribed to these commitments because virtually all funding would be at current market rates. |
Note 12 - Lease Commitments
Note 12 - Lease Commitments | 12 Months Ended |
Dec. 31, 2015 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | Note 12: Lease Commitments Thirty-two banking offices and a centralized administrative service center are owned and 64 facilities are leased. Substantially all the leases contain renewal options and provisions for rental increases, principally for cost of living index. The Company also leases certain pieces of equipment. Minimum future rental payments under noncancelable operating leases as of December 31, 2015 are as follows: (In thousands) 2016 $ 6,708 2017 5,814 2018 5,073 2019 3,551 2020 1,998 Thereafter 1,516 Total minimum lease payments $ 24,660 The total minimum lease payments have not been reduced by minimum sublease rentals of $2,076 thousand due in the future under noncancelable subleases. Total rentals for premises were $8,359 thousand in 2015, $8,798 thousand in 2014 and $8,953 thousand in 2013. Total sublease rentals were $1,721 thousand in 2015, $1,833 thousand in 2014 and $1,852 thousand in 2013. Total rentals for premises, net of sublease income, included in noninterest expense were $6,638 thousand in 2015, $6,965 thousand in 2014 and $7,101 thousand in 2013. |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 13: Commitments and Contingent Liabilities Loan commitments are agreements to lend to a customer provided there is no violation of any condition established in the agreement. Commitments generally have fixed expiration dates or other termination clauses. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future funding requirements. Loan commitments are subject to the Company’s normal credit policies and collateral requirements. Unfunded loan commitments were $299,884 thousand and $312,694 thousand at December 31, 2015 and December 31, 2014, respectively. Standby letters of credit commit the Company to make payments on behalf of customers when certain specified future events occur. Standby letters of credit are primarily issued to support customers’ short-term financing requirements and must meet the Company’s normal credit policies and collateral requirements. Financial and performance standby letters of credit outstanding totaled $26,149 thousand and $29,002 thousand at December 31, 2015 and December 31, 2014, respectively. The Company also had commitments for commercial and similar letters of credit of $40 thousand at December 31, 2015 and December 31, 2014. At December 31, 2015 and December 31, 2014, the Company had a reserve for unfunded commitments of $2,593 thousand and $2,693 thousand, respectively, included in other liabilities. Due to the nature of its business, the Company is subject to various threatened or filed legal cases. Based on the advice of legal counsel, the Company does not expect such cases will have a material, adverse effect on its financial position or results of operations. Legal liabilities are accrued when obligations become probable and the amount is reasonably estimable. |
Note 14 - Retirement Benefit Pl
Note 14 - Retirement Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 14: Retirement Benefit Plans The Company sponsors a qualified defined contribution Deferred Profit-Sharing Plan covering substantially all of its salaried employees with one or more years of service. The costs charged to noninterest expense related to discretionary Company contributions to the Deferred Profit-Sharing Plan were $734 thousand in 2015, $1,002 thousand in 2014 and $1,200 thousand in 2013. The Company also sponsors a qualified defined contribution Tax Deferred Savings/Retirement Plan (ESOP) covering salaried employees who become eligible to participate upon completion of a 90-day introductory period. The Tax Deferred Savings/ Retirement Plan (ESOP) allows employees to defer, on a pretax or after-tax basis, a portion of their salaries as contributions to this Plan. Participants may invest in several funds, including one fund that invests primarily in Westamerica Bancorporation common stock. The Company funds contributions to match participating employees’ contributions, subject to certain limits. The matching contributions charged to compensation expense were $1,147 thousand in 2015, $1,159 thousand in 2014 and $1,214 thousand in 2013. The Company offers a continuation of group insurance coverage to eligible employees electing early retirement, for the period from the date of retirement until age 65. For eligible employees the Company pays a portion of these early retirees’ group insurance premiums. The Company also reimburses a portion of Medicare Part B premiums for all qualifying retirees over age 65 and, if eligible, their spouses. Eligibility for post-retirement medical benefits is based on age and years of service, and restricted to employees hired prior to February 1, 2006 who elect early retirement prior to January 1, 2018. The Company uses an actuarial-based accrual method of accounting for post-retirement benefits. The Company used a December 31 measurement date for determining post-retirement medical benefit calculations. The following tables set forth the net periodic post-retirement benefit cost and the change in the benefit obligation for the years ended December 31 and the funded status of the post-retirement benefit plan as of December 31: Net Periodic Benefit Cost At December 31, 2015 2014 2013 (In thousands) Service (benefit) cost $ (202 ) $ 288 $ (153 ) Interest cost 106 122 110 Amortization of unrecognized transition obligation 61 61 61 Net periodic (benefit) cost $ (35 ) $ 471 $ 18 Other Changes in Benefit Obligations Recognized in Other Comprehensive Income Amortization of unrecognized transition obligation, net of tax (36 ) (36 ) (36 ) Total recognized in net periodic (benefit) cost and accumulated other comprehensive income $ (71 ) $ 435 $ (18 ) The remaining transition obligation cost for this post-retirement benefit plan that will be amortized from accumulated other comprehensive income into net periodic benefit cost over the next fiscal year is $61 thousand. Obligation and Funded Status At December 31, 2015 2014 2013 Change in benefit obligation (In thousands) Benefit obligation at beginning of year $ 2,782 $ 2,544 $ 2,755 Service (benefit) cost (202 ) 288 (153 ) Interest cost 106 122 110 Benefits paid (164 ) (172 ) (168 ) Benefit obligation at end of year $ 2,522 $ 2,782 $ 2,544 Accumulated post-retirement benefit obligation attributable to: Retirees $ 1,695 $ 1,732 $ 1,443 Fully eligible participants 809 998 983 Other 18 52 118 Total $ 2,522 $ 2,782 $ 2,544 Fair value of plan assets - - - Accumulated post-retirement benefit obligation in excess of plan assets $ 2,522 $ 2,782 $ 2,544 Additional Information Assumptions At December 31, 2015 2014 2013 (In thousands) Weighted-average assumptions used to determine benefit obligations Discount rate 4.30 % 3.80 % 4.80 % Weighted-average assumptions used to determine net periodic benefit cost Discount rate 3.80 % 4.80 % 4.00 % The above discount rate is based on the Corporate Aa 25-year rate, the term of which approximates the term of the benefit obligations. The Company reserves the right to terminate or alter post-employment health benefits. Post-retirement medical benefits are currently fixed amounts without provision for future increases; as a result, the assumed annual average rate of inflation used to measure the expected cost of benefits covered by this program is zero percent for 2016 and beyond. Assumed benefit inflation rates are not applicable for this program. Estimated future benefit payments (In thousands) 2016 $ 165 2017 165 2018 160 2019 156 2020 152 Years 2021-2025 700 |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Note 15: Related Party Transactions Certain of the Directors, executive officers and their associates have had banking transactions with subsidiaries of the Company in the ordinary course of business. In Management’s opinion, with the exception of the Company’s Employee Loan Program, all outstanding loans and commitments included in such transactions were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons, did not involve more than a normal risk of collectability, and did not present other favorable features. As part of the Employee Loan Program, all employees, including executive officers, are eligible to receive mortgage loans at one percent below Westamerica Bank’s prevailing interest rate at the time of loan origination. In Management’s opinion, all loans to executive officers under the Employee Loan Program are made by Westamerica Bank in compliance with the applicable restrictions of Section 22(h) of the Federal Reserve Act. The table below reflects information concerning loans to certain directors and executive officers and/or family members during 2015 and 2014: 2015 2014 (In thousands) Balance at January 1, $ 957 $ 1,013 Originations - - Principal reductions (46 ) (56 ) Balance at December 31, $ 911 $ 957 Percent of total loans outstanding. 0.06 % 0.06 % |
Note 16 - Regulatory Matters
Note 16 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2015 | |
Regulatory Matters [Abstract] | |
Regulatory Matters [Text Block] | Note 16: Regulatory Matters Payment of dividends to the Company by the Bank is limited under regulations for state chartered banks. The amount that can be paid in any calendar year, without prior approval from regulatory agencies, cannot exceed the net profits (as defined) for the preceding three calendar years less dividends paid. Under this regulation, the Bank obtained approval for dividends paid to the Company during 2015. The Company consistently has paid quarterly dividends to its shareholders since its formation in 1972. The Bank is required to maintain reserves with the Federal Reserve Bank equal to a percentage of its reservable deposits. The Bank’s daily average on deposit at the Federal Reserve Bank was $254,600 thousand in 2015 and $400,039 thousand in 2014, which amounts exceed the Bank’s required reserves. |
Note 17 - Other Comprehensive I
Note 17 - Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | Note 17: Other Comprehensive Income The components of other comprehensive income (loss) and other related tax effects were: 2015 Before tax Tax effect Net of tax (In thousands) Securities available for sale: Net unrealized losses arising during the year $ (8,028 ) $ 3,375 $ (4,653 ) Reclassification of gains (losses) included in net income - - - Net unrealized losses arising during the year (8,028 ) 3,375 (4,653 ) Post-retirement benefit obligation 61 (25 ) 36 Other comprehensive loss $ (7,967 ) $ 3,350 $ (4,617 ) 2014 Before tax Tax effect Net of tax (In thousands) Securities available for sale: Net unrealized gains arising during the year $ 1,627 $ (684 ) $ 943 Reclassification of gains (losses) included in net income - - - Net unrealized gains arising during the year 1,627 (684 ) 943 Post-retirement benefit obligation 61 (25 ) 36 Other comprehensive income $ 1,688 $ (709 ) $ 979 2013 Before tax Tax effect Net of tax (In thousands) Securities available for sale: Net unrealized losses arising during the year $ (17,855 ) $ 7,507 $ (10,348 ) Reclassification of gains (losses) included in net income - - - Net unrealized losses arising during the year (17,855 ) 7,507 (10,348 ) Post-retirement benefit obligation 61 (25 ) 36 Other comprehensive loss $ (17,794 ) $ 7,482 $ (10,312 ) Accumulated other comprehensive income (loss) balances were: Post-retirement Benefit Obligation Net Unrealized Gains (losses) on Securities Accumulated Other Comprehensive Income (loss) (In thousands) Balance, December 31, 2012 $ (178 ) $ 14,803 $ 14,625 Net change 36 (10,348 ) (10,312 ) Balance, December 31, 2013 (142 ) 4,455 4,313 Net change 36 943 979 Balance, December 31, 2014 (106 ) 5,398 5,292 Net change 36 (4,653 ) (4,617 ) Balance, December 31, 2015 $ (70 ) $ 745 $ 675 |
Note 18 - Earnings Per Common S
Note 18 - Earnings Per Common Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Note 18: Earnings Per Common Share The table below shows earnings per common share and diluted earnings per common share. Basic earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net income by the average number of common shares outstanding during the period plus the impact of common stock equivalents. For the Years Ended December 31, 2015 2014 2013 (In thousands, except per share data) Net income (numerator) $ 58,753 $ 60,646 $ 67,177 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 25,555 26,099 26,826 Basic earnings per common share $ 2.30 $ 2.32 $ 2.50 Diluted earnings per common share Weighted average number of common shares outstanding - basic 25,555 26,099 26,826 Add common stock equivalents for options 22 61 51 Weighted average number of common shares outstanding - diluted (denominator) 25,577 26,160 26,877 Diluted earnings per common share $ 2.30 $ 2.32 $ 2.50 For the years ended December 31, 2015, 2014, and 2013, options to purchase 1,313 thousand, 1,133 thousand and 1,575 thousand shares of common stock, respectively, were outstanding but not included in the computation of diluted earnings per common share because the option exercise price exceeded the fair value of the stock such that their inclusion would have had an anti-dilutive effect. |
Note 19 - Westamerica Bancorpor
Note 19 - Westamerica Bancorporation (Parent Company Only) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 19: Westamerica Bancorporation (Parent Company Only Condensed Financial Information) Statements of Income and Comprehensive Income For the Years Ended December 31, 2015 2014 2013 (In thousands) Dividends from subsidiaries $ 68,981 $ 75,369 $ 88,754 Interest income 10 7 14 Other income 8,411 7,182 8,684 Total income 77,402 82,558 97,452 Interest on borrowings 1 42 707 Salaries and benefits 6,291 6,587 7,120 Other expense 3,424 1,704 2,174 Total expense 9,716 8,333 10,001 Income before taxes and equity in undistributed income of subsidiaries 67,686 74,225 87,451 Income tax benefit 803 742 732 Earnings of subsidiaries less than subsidiary dividends (9,736 ) (14,321 ) (21,006 ) Net income 58,753 60,646 67,177 Other comprehensive (loss) income, net of tax (4,617 ) 979 (10,312 ) Comprehensive income $ 54,136 $ 61,625 $ 56,865 Balance Sheets At December 31, 2015 2014 (In thousands) Assets Cash $ 26,453 $ 7,451 Investment securities available for sale 991 910 Investment in Westamerica Bank 475,697 490,098 Investment in non-bank subsidiaries 455 456 Premises and equipment, net 9,391 9,679 Accounts receivable from Westamerica Bank 552 323 Other assets 33,850 32,974 Total assets $ 547,389 $ 541,891 Liabilities Accounts payable to Westamerica Bank $ 737 $ 790 Other liabilities 14,447 14,498 Total liabilities 15,184 15,288 Shareholders' equity 532,205 526,603 Total liabilities and shareholders' equity $ 547,389 $ 541,891 Statements of Cash Flows For the Years Ended December 31, 2015 2014 2013 (In thousands) Operating Activities Net income $ 58,753 $ 60,646 $ 67,177 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 326 341 312 (Increase) decrease in accounts receivable from affiliates (217 ) (17 ) 26 Increase in other assets (1,713 ) (1,668 ) (926 ) Stock option compensation expense 1,272 1,318 1,397 Tax benefit decrease upon exercise of stock options 1,284 447 298 (Benefit) provision for deferred income tax (491 ) 616 (769 ) Increase (decrease) in other liabilities 743 (814 ) 2,573 Earnings of subsidiaries less than subsidiary dividends 9,736 14,321 21,006 Gain on sales of property and equipment (39 ) (88 ) (259 ) Net Cash Provided by Operating Activities 69,654 75,102 90,835 Investing Activities Purchases of premises and equipment - - - Net Cash Provided by Investing Activities - - - Financing Activities Net reductions in debt financing - - (15,000 ) Exercise of stock options/issuance of shares 4,848 12,396 21,499 Tax benefit decrease upon exercise of stock options (1,284 ) (447 ) (298 ) Retirement of common stock including repurchases (15,092 ) (52,678 ) (57,320 ) Dividends (39,124 ) (39,761 ) (40,096 ) Net Cash Used in Financing Activities (50,652 ) (80,490 ) (91,215 ) Net change in cash 19,002 (5,388 ) (380 ) Cash at Beginning of Period 7,451 12,839 13,219 Cash at End of Period $ 26,453 $ 7,451 $ 12,839 Supplemental Cash Flow Disclosures: Supplemental disclosure of cash flow activities: Interest paid for the period $ 1 $ 42 $ 840 Income tax payments for the period 17,666 16,412 22,562 |
Note 20 - Quarterly Financial I
Note 20 - Quarterly Financial Information | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | Note 20: Quarterly Financial Information (Unaudited) For the Three Months Ended March 31, June 30, September 30, December 31, (In thousands, expect per share data and price range of common stock) 2015 Interest and loan fee income $ 33,917 $ 34,425 $ 34,299 $ 33,888 Net interest income 33,258 33,808 33,714 33,325 Provision for credit losses - - - - Noninterest income 12,300 12,269 11,993 11,305 Noninterest expense 26,727 26,896 26,173 25,504 Income before taxes 18,831 19,181 19,534 19,126 Net income 14,557 14,761 14,857 14,578 Basic earnings per common share 0.57 0.58 0.58 0.57 Diluted earnings per common share 0.57 0.58 0.58 0.57 Dividends paid per common share 0.38 0.38 0.38 0.39 Price range, common stock 40.57 - 49.45 42.09 - 52.16 42.97 - 52.40 41.99 - 49.89 2014 Interest and loan fee income $ 35,564 $ 35,403 $ 34,900 $ 34,342 Net interest income 34,666 34,503 34,054 33,542 Provision for credit losses 1,000 1,000 600 200 Noninterest income 12,990 13,198 13,054 12,545 Noninterest expense 26,873 26,957 26,616 26,353 Income before taxes 19,783 19,744 19,892 19,534 Net income 15,307 15,157 15,154 15,028 Basic earnings per common share 0.58 0.58 0.58 0.58 Diluted earnings per common share 0.58 0.58 0.58 0.58 Dividends paid per common share 0.38 0.38 0.38 0.38 Price range, common stock 48.36 - 56.51 47.85 - 55.34 46.12 - 53.93 42.71 - 51.24 2013 Interest and loan fee income $ 40,465 $ 39,269 $ 37,956 $ 36,706 Net interest income 39,213 38,050 36,780 35,682 Provision for credit losses 2,800 1,800 1,800 1,600 Noninterest income 14,278 14,284 14,419 14,030 Noninterest expense 28,677 28,192 27,758 27,987 Income before taxes 22,014 22,342 21,641 20,125 Net income 17,271 17,112 16,738 16,056 Basic earnings per common share 0.64 0.64 0.63 0.60 Diluted earnings per common share 0.64 0.64 0.63 0.60 Dividends paid per common share 0.37 0.37 0.37 0.38 Price range, common stock 42.59 - 45.80 41.76 - 46.56 45.73 - 50.78 48.29 - 57.59 |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Accounting Estimates. Certain accounting policies underlying the preparation of these financial statements require Management to make estimates and judgments about future economic and market conditions. These estimates and judgments may affect reported amounts of assets and liabilities, revenues and expenses, and disclosures of contingent assets and liabilities. Although the estimates contemplate current conditions and how Management expects them to change in the future, it is reasonably possible that in 2016 actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial conditions. The most significant of these involve the Allowance for Credit Losses, as discussed below under “Allowance for Credit Losses.” |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation. The consolidated financial statements include the accounts of the Company and all the Company’s subsidiaries. Significant intercompany transactions have been eliminated in consolidation. The Company does not maintain or conduct transactions with any unconsolidated special purpose entities. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash. Cash include Due From Banks balances which are readily convertible to known amounts of cash and are generally 90 days or less from maturity at the time of initiation, presenting insignificant risk of changes in value due to interest rate changes. |
Marketable Securities, Policy [Policy Text Block] | Securities. Investment securities consist of debt securities of the U.S. Treasury, government sponsored entities, states, counties, municipalities, corporations, agency and non-agency mortgage-backed securities, asset-backed securities and equity securities. Securities transactions are recorded on a trade date basis. The Company classifies its debt and marketable equity securities in one of three categories: trading, available for sale or held to maturity. Trading securities are bought and held principally for the purpose of selling them in the near term. Trading securities are recorded at fair value with unrealized gains and losses included in earnings. Held to maturity securities are those debt securities which the Company has the ability and intent to hold until maturity. Held to maturity securities are recorded at cost, adjusted for the amortization of premiums or accretion of discounts. Securities not included in trading or held to maturity are classified as available for sale. Available for sale securities are recorded at fair value. Unrealized gains and losses, net of the related tax effect, on available for sale securities are included in other comprehensive income. The Company utilizes third-party sources to value its investment securities; securities individually valued using quoted prices in active markets are classified as Level 1 assets in the fair value hierarchy, and securities valued using quoted prices in active markets for similar securities (commonly referred to as “matrix” pricing) are classified as Level 2 assets in the fair value hierarchy. The Company validates the reliability of third-party provided values by comparing individual security pricing for securities between more than one third-party source. When third-party information is not available, valuation adjustments are estimated in good faith by Management and classified as Level 3 in the fair value hierarchy. A decline in the market value of any available for sale or held to maturity security below amortized cost that is deemed other than temporary results in a charge to earnings and the establishment of a new cost basis for the security. Unrealized investment securities losses are evaluated at least quarterly to determine whether such declines in value should be considered “other than temporary” and therefore be subject to immediate loss recognition in income. Although these evaluations involve significant judgment, an unrealized loss in the fair value of a debt security is generally deemed to be temporary when the fair value of the security is below the carrying value primarily due to changes in risk-free interest rates, there has not been significant deterioration in the financial condition of the issuer, and the Company does not intend to sell or be required to sell the securities before recovery of its amortized cost. An unrealized loss in the value of an equity security is generally considered temporary when the fair value of the security declined primarily due to current market conditions and not deterioration in the financial condition of the issuer, the Company expects the fair value of the security to recover in the near term and the Company does not intend to sell or be required to sell the securities before recovery of its amortized cost. Other factors that may be considered in determining whether a decline in the value of either a debt or an equity security is “other than temporary” include ratings by recognized rating agencies, actions of commercial banks or other lenders relative to the continued extension of credit facilities to the issuer of the security, the financial condition, capital strength and near-term prospects of the issuer, and recommendations of investment advisors or market analysts. The Company follows the guidance issued by the Board of Governors of the Federal Reserve System, “Investing in Securities without Reliance on Nationally Recognized Statistical Rating Agencies” (SR 12-15) and other regulatory guidance when performing investment security pre-purchase analysis or evaluating investment securities for impairment. Credit ratings issued by recognized rating agencies are considered in the Company’s analysis only as a guide to the historical default rate associated with similarly-rated bonds. Purchase premiums are amortized and purchase discounts are accreted over the estimated life of the related investment security as an adjustment to yield using the effective interest method. Unamortized premiums, unaccreted discounts, and early payment premiums are recognized as a component of gain or loss on sale upon disposition of the related security. Interest and dividend income are recognized when earned. Realized gains and losses from the sale of available for sale securities are included in earnings using the specific identification method. |
Cost Method Investments, Policy [Policy Text Block] | Nonmarketable Equity Securities. Nonmarketable equity securities include securities that are not publicly traded, such as Visa Class B common stock, and securities acquired to meet regulatory requirements, such as Federal Home Loan Bank and Federal Reserve Bank stock, which are restricted. These restricted securities are accounted for under the cost method and are included in other assets. The Company reviews those assets accounted for under the cost method at least quarterly for possible declines in value that are considered “other than temporary”. The Company’s review typically includes an analysis of the facts and circumstances of each investment, the expectations for the investment’s cash flows and capital needs, the viability of its business model and any exit strategy. The asset value is reduced when a decline in value is considered to be other than temporary. The Company recognizes the estimated loss in noninterest income. |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | Loans. Loans are stated at the principal amount outstanding, net of unearned discount and unamortized deferred fees and costs. Interest is accrued daily on the outstanding principal balances. Loans which are more than 90 days delinquent with respect to interest or principal, unless they are well secured and in the process of collection, and other loans on which full recovery of principal or interest is in doubt, are placed on nonaccrual status. Interest previously accrued on loans placed on nonaccrual status is charged against interest income. In addition, some loans secured by real estate with temporarily impaired values and commercial loans to borrowers experiencing financial difficulties are placed on nonaccrual status (“performing nonaccrual loans”) even though the borrowers continue to repay the loans as scheduled. When the ability to fully collect nonaccrual loan principal is in doubt, payments received are applied against the principal balance of the loans on a cost-recovery method until such time as full collection of the remaining recorded balance is expected. Any additional interest payments received after that time are recorded as interest income on a cash basis. Performing nonaccrual loans are reinstated to accrual status when improvements in credit quality eliminate the doubt as to the full collectability of both interest and principal. Certain consumer loans or auto receivables are charged off against the allowance for credit losses when they become 120 days past due. The Company evaluates all classified loans and nonaccrual loans with outstanding principal balances in excess of $500 thousand, and all “troubled debt restructured” loans for impairment. The Company recognizes a loan as impaired when, based on current information and events, it is probable that it will be unable to collect both the contractual interest and principal payments as scheduled in the loan agreement. Income recognition on impaired loans conforms to that used on nonaccrual loans. In certain circumstances, the Company might agree to restructured loan terms with borrowers experiencing financial difficulties; such restructured loans are evaluated under ASC 310-40, “Troubled Debt Restructurings by Creditors.” In general, a restructuring constitutes a troubled debt restructuring when the Company, for reasons related to a borrower’s financial difficulties, grants a concession to the borrower it would not otherwise consider. Loans are evaluated on an individual basis. The Company follows its general nonaccrual policy for troubled debt restructurings. Performing troubled debt restructurings are reinstated to accrual status when improvements in credit quality eliminate the doubt as to full collectability of both principal and interest. Nonrefundable fees and certain costs associated with originating or acquiring loans are deferred and amortized as an adjustment to interest income over the contractual loan lives. Upon prepayment, unamortized loan fees, net of costs, are immediately recognized in interest income. Other fees, including those collected upon principal prepayments, are included in interest income when received. Loans held for sale are identified upon origination and are reported at the lower of cost or market value on an aggregate loan basis. Purchased Loans. Purchased loans are recorded at estimated fair value on the date of purchase. Impaired purchased loans are accounted for under FASB ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, when the loans have evidence of credit deterioration since origination and it is probable at the date of acquisition that the Company will not collect all contractually required principal and interest payments. Evidence of credit quality deterioration as of the purchase date may include attributes such as past due and nonaccural status. Generally, purchased loans that meet the Company’s definition for nonaccrual status fall within the scope of FASB ASC 310-30. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent increases in cash flows result in a reversal of the provision for loan losses to the extent of prior charges, or a reclassification of the difference from nonaccretable to accretable with a positive impact on interest income on a prospective basis. Any excess of expected cash flows over the estimated fair value is referred to as the accretable yield and is recognized into interest income over the remaining life of the loan when there is a reasonable expectation about the amount and timing of such cash flows. For covered purchased loans with an accretable difference, the corresponding FDIC receivable is amortized over the shorter of the contractual term of the indemnification asset or the remaining life of the loan. Further, the Company elected to analogize to ASC 310-30 and account for all other loans that had a discount due in part to credit not within the scope of ASC 310-30 using the same methodology. Covered Loans. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Credit Losses. The Company extends loans to commercial and consumer customers in Northern and Central California. These lending activities expose the Company to the risk borrowers will default, causing loan losses. The Company’s lending activities are exposed to various qualitative risks. All loan segments are exposed to risks inherent in the economy and market conditions. Significant risk characteristics related to the commercial loan segment include the borrowers’ business performance and financial condition, and the value of collateral for secured loans. Significant risk characteristics related to the commercial real estate segment include the borrowers’ business performance and the value of properties collateralizing the loans. Significant risk characteristics related to the construction loan segment include the borrowers’ performance in successfully developing the real estate into the intended purpose and the value of the property collateralizing the loans. Significant risk characteristics related to the residential real estate segment include the borrowers’ financial wherewithal to service the mortgages and the value of the property collateralizing the loans. Significant risk characteristics related to the consumer loan segment include the financial condition of the borrowers and the value of collateral securing the loans. The preparation of these financial statements requires Management to estimate the amount of probable incurred losses inherent in the loan portfolio and establish an allowance for credit losses. The allowance for credit losses is established by assessing a provision for loan losses against the Company’s earnings. In estimating credit losses, Management must exercise significant judgment in evaluating information deemed relevant, such as financial information regarding individual borrowers, overall credit loss experience, the amount of past due, nonperforming and classified loans, recommendations of regulatory authorities, prevailing economic conditions and other information. The amount of ultimate losses on the loan portfolio can vary from the estimated amounts. Management follows a systematic methodology to estimate loss potential in an effort to reduce the differences between estimated and actual losses. The allowance for credit losses is established through provisions for credit losses charged to income. Losses on loans, including impaired loans, are charged to the allowance for loan losses when all or a portion of the recorded amount of a loan is deemed to be uncollectible. Recoveries of loans previously charged off are credited to the allowance when realized. The Company’s allowance for credit losses is maintained at a level considered adequate to provide for losses that can be estimated based upon specific and general conditions. These include conditions unique to individual borrowers, as well as overall credit loss experience, the amount of past due, nonperforming and classified loans, recommendations of regulatory authorities, prevailing economic conditions, FDIC loss-sharing or similar credit protection agreements and other factors. A portion of the allowance is specifically allocated to impaired loans whose full collectability is uncertain. Such allocations are determined by Management based on loan-by-loan analyses. The Company evaluates all classified loans and nonaccrual loans with outstanding principal balances in excess of $500 thousand, and all “troubled debt restructured” loans for impairment. A second allocation is based in part on quantitative analyses of historical credit loss experience. The results of this analysis are applied to current loan balances to allocate the reserve to the respective segments of the loan portfolio exclusive of loans individually evaluated for impairment. In addition, consumer installment loans which have similar characteristics and are not usually criticized using regulatory guidelines are analyzed and reserves established based on the historical loss rates and delinquency trends, grouped by the number of days the payments on these loans are delinquent. The remainder of the reserve is considered to be unallocated. The unallocated allowance is established to provide for probable losses that have been incurred as of the reporting date but not reflected in the allocated allowance. It addresses additional qualitative factors consistent with Management’s analysis of the level of risks inherent in the loan portfolio, which are related to the risks of the Company’s general lending activity. Included in the unallocated allowance is the risk of losses that are attributable to national or local economic or industry trends which have occurred but have not yet been recognized in past loan charge-off history (external factors). The external factors evaluated by the Company include: economic and business conditions, external competitive issues, and other factors. Also included in the unallocated allowance is the risk of losses that are attributable to general attributes of the Company’s loan portfolio and credit administration (internal factors). The internal factors evaluated by the Company include: loan review system, adequacy of lending Management and staff, loan policies and procedures, problem loan trends, concentrations of credit, and other factors. By their nature, these risks are not readily allocable to any specific segment of the loan portfolio in a statistically meaningful manner. |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Liability for Off-Balance Sheet Credit Exposures. A liability for off-balance sheet credit exposures is established through expense recognition. Off-balance sheet credit exposures relate to letters of credit and unfunded loan commitments for commercial, construction and consumer loans. Historical credit loss factors for commercial, construction and consumer loans are applied to the amount of these off-balance sheet credit exposures to estimate inherent losses. |
Loans and Leases Receivable, Real Estate Acquired Through Foreclosure, Policy [Policy Text Block] | Other Real Estate Owned. Other real estate owned is comprised of property acquired through foreclosure proceedings, acceptances of deeds-in-lieu of foreclosure and, if applicable, vacated bank properties. Losses recognized at the time of acquiring property in full or partial satisfaction of debt are charged against the allowance for credit losses. Other real estate owned is recorded at the fair value of the collateral, generally based upon an independent property appraisal, less estimated disposition costs. Losses incurred subsequent to acquisition due to any decline in annual independent property appraisals are recognized as noninterest expense. Routine holding costs, such as property taxes, insurance and maintenance, and losses from sales and dispositions, are recognized as noninterest expense. Covered Other Real Estate Owned. Other real estate owned covered under loss-sharing agreements with the FDIC is reported exclusive of expected reimbursement cash flows from the FDIC. Upon transferring covered loan collateral to covered other real estate owned status, the covered loan collateral is recorded at fair value, generally based upon an independent property appraisal, less estimated disposition costs with losses charged against acquisition date fair value discounts; the amount of losses exceeding acquisition date fair value discounts are recognized as noninterest expense inclusive of expected reimbursement cash flows from the FDIC. Subsequent losses incurred due to any decline in annual independent property appraisal valuations are recognized as noninterest expense inclusive of expected reimbursement cash flows from the FDIC. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment. Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is computed substantially on the straight-line method over the estimated useful life of each type of asset. Estimated useful lives of premises and equipment range from 20 to 50 years and from 3 to 20 years, respectively. Leasehold improvements are amortized over the terms of the lease or their estimated useful life, whichever is shorter. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition. The Company recognizes revenue as it is earned based on contractual terms, as transactions occur, or as services are provided and collectability is reasonably assured. In certain circumstances, noninterest income is reported net of associated expenses that are directly related to variable volume-based sales or revenue sharing arrangements or when the Company acts on an agency basis for others. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Intangible Assets. Intangible assets are comprised of goodwill, core deposit intangibles and other identifiable intangibles acquired in business combinations. Intangible assets with definite useful lives are amortized on an accelerated basis over their respective estimated useful lives not exceeding 15 years. If an event occurs that indicates the carrying amount of an intangible asset may not be recoverable, Management reviews the asset for impairment. Any goodwill and any intangible asset acquired in a purchase business combination determined to have an indefinite useful life is not amortized, but is evaluated for impairment annually. The Company has the option to first assess qualitative factors to determine the likelihood of impairment pursuant to FASB ASU 2011-08, Testing for Goodwill Impairment. |
Impairment of Long Lived Assets [Policy Text Block] | Impairment of Long-Lived Assets. The Company reviews its long-lived and certain intangible assets for impairment whenever events or changes indicate that the carrying amount of an asset may not be recoverable. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. |
Income Tax, Policy [Policy Text Block] | Income Taxes. The Company and its subsidiaries file consolidated tax returns. The Company accounts for income taxes in accordance with FASB ASC 740, Income Taxes, resulting in two components of income tax expense: current and deferred. Current income tax expense approximates taxes to be paid or refunded for the current period. The Company determines deferred income taxes using the balance sheet method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and recognizes enacted changes in tax rates and laws in the period in which they occur. Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized subject to Management’s judgment that realization is more likely than not. A tax position that meets the more likely than not recognition threshold is measured to determine the amount of benefit to recognize. The tax position is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon settlement. Interest and penalties are recognized as a component of income tax expense. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock Options. The Company applies FASB ASC 718 – Compensation – Stock Compensation, to account for stock based awards granted to employees using the fair value method. The Company recognizes compensation expense for restricted performance share grants over the relevant attribution period. Restricted performance share grants have no exercise price, therefore, the intrinsic value is measured using an estimated per share price at the vesting date for each restricted performance share. The estimated per share price is adjusted during the attribution period to reflect actual stock price performance. The Company’s obligation for unvested outstanding restricted performance share grants is classified as a liability until the vesting date due to a cash settlement feature, at which time the issued shares become classified as shareholders’ equity. |
Extinguishment of Debt [Policy Text Block] | Extinguishment of Debt. Gains and losses, including fees, incurred in connection with the early extinguishment of debt are charged to current earnings as reductions in noninterest income. |
Postemployment Benefit Plans, Policy [Policy Text Block] | Postretirement Benefits. The Company uses an actuarial-based accrual method of accounting for post-retirement benefits. |
Fiduciary [Policy Text Block] | Other. Securities and other property held by the Bank in a fiduciary or agency capacity are not included in the financial statements since such items are not assets of the Company or its subsidiaries. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards FASB Accounting Standards Update (ASU) 2016-01 Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, The Company will be required to adopt the ASU provisions on January 1, 2018. Management is evaluating the impact that the ASU will have on the Company’s financial statements. |
Note 2 - Investment Securities
Note 2 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Investment Securities Available for Sale Amortized Gross Gross Fair (In thousands) Securities of U.S. Government sponsored entities $ 302,292 $ 255 $ (665 ) $ 301,882 Agency residential mortgage-backed securities (MBS) 208,046 1,407 (6,909 ) 202,544 Non-agency residential MBS 354 16 - 370 Non-agency commercial MBS 2,383 5 (9 ) 2,379 Obligations of states and political subdivisions 148,705 8,861 (57 ) 157,509 Asset-backed securities 2,025 - (22 ) 2,003 FHLMC (1) (2) 775 3,554 - 4,329 Corporate securities 902,308 882 (6,821 ) 896,369 Other securities 2,039 952 (160 ) 2,831 Total $ 1,568,927 $ 15,932 $ (14,643 ) $ 1,570,216 Investment Securities Available for Sale Amortized Gross Gross Fair (In thousands) U.S. Treasury securities $ 3,500 $ 5 $ - $ 3,505 Securities of U.S. Government sponsored entities 635,278 937 (1,027 ) 635,188 Residential MBS 24,647 1,776 (16 ) 26,407 Commercial MBS 2,923 6 (10 ) 2,919 Residential collateralized mortgage obligations (CMO) 230,347 634 (8,524 ) 222,457 Obligations of states and political subdivisions 171,907 10,015 (123 ) 181,799 Asset-backed securities 8,349 - (36 ) 8,313 FHLMC and FNMA stock 775 4,393 - 5,168 Corporate securities 511,699 2,169 (1,629 ) 512,239 Other securities 2,039 871 (124 ) 2,786 Total $ 1,591,464 $ 20,806 $ (11,489 ) $ 1,600,781 |
Schedule of Held to Maturity Securities Reconciliation [Table Text Block] | Investment Securities Held to Maturity Amortized Gross Gross Fair (In thousands) Securities of U.S. government sponsored entities $ 764 $ - $ - $ 764 Agency residential MBS 595,503 1,810 (4,966 ) 592,347 Non-agency residential MBS 9,667 185 - 9,852 Agency commercial MBS 16,258 20 (274 ) 16,004 Obligations of states and political subdivisions 693,883 13,638 (789 ) 706,732 Total $ 1,316,075 $ 15,653 $ (6,029 ) $ 1,325,699 At December 31, 2014 Amortized Gross Gross Fair (In thousands) Securities of U.S. government sponsored entities $ 1,066 $ 11 $ - $ 1,077 Residential MBS 59,078 1,183 (137 ) 60,124 Residential CMO 258,325 2,236 (2,381 ) 258,180 Obligations of states and political subdivisions 720,189 11,350 (2,358 ) 729,181 Total $ 1,038,658 $ 14,780 $ (4,876 ) $ 1,048,562 |
Investments Classified by Contractual Maturity Date [Table Text Block] | At December 31, 2015 Securities Available Securities Held Amortized Fair Amortized Fair (In thousands) Maturity in years: 1 year or less $ 136,717 $ 136,976 $ 20,709 $ 21,354 Over 1 to 5 years 1,049,786 1,044,453 259,556 262,163 Over 5 to 10 years 166,352 173,585 289,568 296,352 Over 10 years 2,475 2,749 124,814 127,627 Subtotal 1,355,330 1,357,763 694,647 707,496 MBS 210,783 205,293 621,428 618,203 Other securities 2,814 7,160 - - Total $ 1,568,927 $ 1,570,216 $ 1,316,075 $ 1,325,699 At December 31, 2014 Securities Available Securities Held Amortized Fair Amortized Fair (In thousands) Maturity in years: 1 year or less $ 57,891 $ 57,991 $ 15,355 $ 15,855 Over 1 to 5 years 629,200 630,797 228,380 230,248 Over 5 to 10 years 584,872 589,250 285,219 288,631 Over 10 years 58,770 63,006 192,301 195,524 Subtotal 1,330,733 1,341,044 721,255 730,258 MBS and residential CMO 257,917 251,783 317,403 318,304 Other securities 2,814 7,954 - - Total $ 1,591,464 $ 1,600,781 $ 1,038,658 $ 1,048,562 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Investment Securities Available for Sale No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 8 $ 121,392 $ (665 ) - $ - $ - 8 $ 121,392 $ (665 ) Agency residential MBS 2 12,491 (366 ) 31 161,296 (6,543 ) 33 173,787 (6,909 ) Non-agency commercial MBS 1 1,071 - 1 855 (9 ) 2 1,926 (9 ) Obligations of states and political subdivisions 3 2,728 (18 ) 4 1,644 (39 ) 7 4,372 (57 ) Asset-backed securities - - - 1 2,003 (22 ) 1 2,003 (22 ) Corporate securities 97 548,177 (5,442 ) 25 86,762 (1,379 ) 122 634,939 (6,821 ) Other securities - - - 1 1,840 (160 ) 1 1,840 (160 ) Total 111 $ 685,859 $ (6,491 ) 63 $ 254,400 $ (8,152 ) 174 $ 940,259 $ (14,643 ) Investment Securities Held to Maturity No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Agency residential MBS 41 $ 426,317 $ (3,490 ) 13 $ 62,041 $ (1,476 ) 54 $ 488,358 $ (4,966 ) Agency commercial MBS - - - 2 13,951 (274 ) 2 13,951 (274 ) Obligations of states and political subdivisions 55 44,585 (249 ) 54 42,081 (540 ) 109 86,666 (789 ) Total 96 $ 470,902 $ (3,739 ) 69 $ 118,073 $ (2,290 ) 165 $ 588,975 $ (6,029 ) Investment Securities Available for Sale No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 15 $ 253,632 $ (989 ) 1 $ 9,963 $ (38 ) 16 $ 263,595 $ (1,027 ) Residential MBS - - - 2 822 (16 ) 2 822 (16 ) Commercial MBS 1 942 (7 ) 1 803 (3 ) 2 1,745 (10 ) Residential CMO - - - 32 205,074 (8,524 ) 32 205,074 (8,524 ) Obligations of states and political subdivisions 7 2,548 (18 ) 17 5,518 (105 ) 24 8,066 (123 ) Asset-backed securities 1 5,008 (7 ) 1 3,305 (29 ) 2 8,313 (36 ) Corporate securities 53 165,026 (1,304 ) 5 34,222 (325 ) 58 199,248 (1,629 ) Other securities - - - 1 1,876 (124 ) 1 1,876 (124 ) Total 77 $ 427,156 $ (2,325 ) 60 $ 261,583 $ (9,164 ) 137 $ 688,739 $ (11,489 ) Investment Securities Held to Maturity No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrecognized Investment Unrecognized Investment Unrecognized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Residential MBS 4 $ 19,467 $ (132 ) 1 $ 201 $ (5 ) 5 $ 19,668 $ (137 ) Residential CMO 5 13,932 (166 ) 22 119,513 (2,215 ) 27 133,445 (2,381 ) Obligations of states and political subdivisions 103 76,202 (439 ) 138 123,370 (1,919 ) 241 199,572 (2,358 ) Total 112 $ 109,601 $ (737 ) 161 $ 243,084 $ (4,139 ) 273 $ 352,685 $ (4,876 ) |
Interest Income from Investments [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 (In thousands) Taxable $ 34,472 $ 24,766 $ 22,201 Tax-exempt from regular federal income tax 23,616 26,387 29,569 Total interest income from investment securities $ 58,088 $ 51,153 $ 51,770 |
Note 3 - Loans and Allowance 30
Note 3 - Loans and Allowance for Credit Losses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Loans And Allowance For Credit Losses [Abstract] | |
Schedule of Loans Receivable [Table Text Block] | At December 31, 2015 Commercial Commercial Construction Residential Consumer Total (In thousands) Originated loans $ 368,117 $ 517,070 $ 2,978 $ 117,631 $ 346,043 $ 1,351,839 Purchased covered loans : Gross purchased covered loans - - - 2,385 11,828 14,213 Purchased loan discount - - - (133 ) (19 ) (152 ) Purchased non-covered loans : Gross purchased non-covered loans 15,620 124,650 973 231 32,454 173,928 Purchased loan discount (989 ) (4,264 ) - (23 ) (1,156 ) (6,432 ) Total $ 382,748 $ 637,456 $ 3,951 $ 120,091 $ 389,150 $ 1,533,396 At December 31, 2014 Commercial Commercial Construction Residential Consumer Total (In thousands) Originated loans $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 1,470,369 Purchased covered loans : Gross purchased covered loans - - - 2,626 14,920 17,546 Purchased loan discount - - - (434 ) (34 ) (468 ) Purchased non-covered loans : Gross purchased non-covered loans 19,166 157,502 2,919 972 41,656 222,215 Purchased loan discount (1,356 ) (6,492 ) (50 ) (262 ) (1,212 ) (9,372 ) Total $ 391,815 $ 718,604 $ 13,872 $ 149,827 $ 426,172 $ 1,700,290 |
Impaired Purchased Loans Roll Forward [Table Text Block] | For the Years Ended December 31, 2015 2014 Impaired purchased loans (In thousands) Carrying amount at the beginning of the period $ 4,672 $ 4,936 Reductions during the period (785 ) (264 ) Carrying amount at the end of the period $ 3,887 $ 4,672 |
Accretable Yield Reconciliation Schedule [Table Text Block] | For the Years Ended December 31, 2015 2014 Accretable yield: (In thousands) Balance at the beginning of the period $ 2,261 $ 2,505 Reclassification from nonaccretable difference 3,051 5,016 Accretion (4,053 ) (5,260 ) Balance at the end of the period $ 1,259 $ 2,261 Accretion $ (4,053 ) $ (5,260 ) Change in FDIC indemnification 698 1,110 (Increase) in interest income $ (3,355 ) $ (4,150 ) |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Allowance for Loan Losses Commercial Commercial Construction Residential Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 5,460 $ 4,245 $ 644 $ 2,241 $ 7,717 $ 2,120 $ - $ 9,058 $ 31,485 Additions: Provision 3,702 356 (512 ) (440 ) 950 (961 ) - (3,095 ) - Deductions: Chargeoffs (756 ) (449 ) - - (3,493 ) (431 ) - - (5,129 ) Recoveries 1,153 72 45 - 1,906 239 - - 3,415 Net loan recoveries (losses) 397 (377 ) 45 - (1,587 ) (192 ) - - (1,714 ) Total allowance for loan losses $ 9,559 $ 4,224 $ 177 $ 1,801 $ 7,080 $ 967 $ - $ 5,963 $ 29,771 Allowance for Credit Losses Commercial Commercial Construction Residential Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 4,005 $ 12,070 $ 602 $ 405 $ 3,198 $ - $ 1,561 $ 9,852 $ 31,693 Additions: Provision 1,095 (7,276 ) 39 1,866 6,864 1,006 - (794 ) 2,800 Deductions: Chargeoffs (1,890 ) (762 ) - (30 ) (4,214 ) (522 ) - - (7,418 ) Recoveries 2,250 213 3 - 1,869 75 - - 4,410 Net loan recoveries (losses) 360 (549 ) 3 (30 ) (2,345 ) (447 ) - - (3,008 ) Indemnification expiration - - - - - 1,561 (1,561 ) - - Balance at end of period 5,460 4,245 644 2,241 7,717 2,120 - 9,058 31,485 Liability for off-balance sheet credit exposure 2,408 - 344 - 437 - - (496 ) 2,693 Total allowance for credit losses $ 7,868 $ 4,245 $ 988 $ 2,241 $ 8,154 $ 2,120 $ - $ 8,562 $ 34,178 Allowance for Credit Losses Commercial Commercial Construction Residential Consumer Purchased Purchased Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 6,445 $ 10,063 $ 484 $ 380 $ 3,194 $ - $ 1,005 $ 8,663 $ 30,234 Additions: Provision (1,158 ) 2,813 118 134 1,949 385 2,570 1,189 8,000 Deductions: Chargeoffs (2,857 ) (997 ) - (109 ) (4,097 ) (385 ) (2,286 ) - (10,731 ) Recoveries 1,575 191 - - 2,152 - 272 - 4,190 Net loan losses (1,282 ) (806 ) - (109 ) (1,945 ) (385 ) (2,014 ) - (6,541 ) Balance at end of period 4,005 12,070 602 405 3,198 - 1,561 9,852 31,693 Liability for off-balance sheet credit exposure 1,658 - 37 - 497 - - 501 2,693 Total allowance for credit losses $ 5,663 $ 12,070 $ 639 $ 405 $ 3,695 $ - $ 1,561 $ 10,353 $ 34,386 |
Schedule of Recorded Investment in Loans Evaluated for Impairment [Table Text Block] | Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 4,942 $ 585 $ - $ - $ - $ - $ - $ - $ 5,527 Collectively evaluated for impairment 4,617 3,639 177 1,801 7,080 967 - 5,963 24,244 Purchased loans with evidence of credit deterioration - - - - - - - - - Total $ 9,559 $ 4,224 $ 177 $ 1,801 $ 7,080 $ 967 $ - $ 5,963 $ 29,771 Carrying value of loans: Individually evaluated for impairment $ 12,587 $ 5,541 $ - $ - $ - $ 11,777 $ - $ - $ 29,905 Collectively evaluated for impairment 355,530 511,529 2,978 117,631 346,043 152,038 13,855 - 1,499,604 Purchased loans with evidence of credit deterioration - - - - - 3,681 206 - 3,887 Total $ 368,117 $ 517,070 $ 2,978 $ 117,631 $ 346,043 $ 167,496 $ 14,061 $ - $ 1,533,396 Allowance for Credit Losses and Recorded Investment in Loans Evaluated for Impairment Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans Unallocated Total (In thousands) Allowance for credit losses: Individually evaluated for impairment $ 496 $ - $ - $ - $ - $ - $ - $ - $ 496 Collectively evaluated for impairment 7,372 4,245 988 2,241 8,154 2,120 - 8,562 33,682 Purchased loans with evidence of credit deterioration - - - - - - - - - Total $ 7,868 $ 4,245 $ 988 $ 2,241 $ 8,154 $ 2,120 $ - $ 8,562 $ 34,178 Carrying value of loans: Individually evaluated for impairment $ 11,811 $ 2,970 $ - $ 574 $ 599 $ 12,364 $ - $ - $ 28,318 Collectively evaluated for impairment 362,194 564,624 11,003 146,351 370,243 196,034 16,851 - 1,667,300 Purchased loans with evidence of credit deterioration - - - - - 4,445 227 - 4,672 Total $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 212,843 $ 17,078 $ - $ 1,700,290 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Risk Profile by Internally Assigned Grade At December 31, 2015 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans (1) Total (In thousands) Grade: Pass $ 353,474 $ 496,744 $ 2,978 $ 114,525 $ 344,876 $ 149,100 $ 12,563 $ 1,474,260 Substandard 14,643 20,326 - 3,106 781 24,810 1,650 65,316 Doubtful - - - - 12 18 - 30 Loss - - - - 374 - - 374 Purchased loan discount - - - - - (6,432 ) (152 ) (6,584 ) Total $ 368,117 $ 517,070 $ 2,978 $ 117,631 $ 346,043 $ 167,496 $ 14,061 $ 1,533,396 Credit Risk Profile by Internally Assigned Grade At December 31, 2014 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Purchased Non-covered Loans Purchased Covered Loans (1) Total (In thousands) Grade: Pass $ 366,487 $ 527,980 $ 11,003 $ 144,902 $ 369,618 $ 182,644 $ 15,509 $ 1,618,143 Substandard 7,506 39,614 - 2,023 734 39,473 2,037 91,387 Doubtful 12 - - - 12 77 - 101 Loss - - - - 478 21 - 499 Purchased loan discount - - - - - (9,372 ) (468 ) (9,840 ) Total $ 374,005 $ 567,594 $ 11,003 $ 146,925 $ 370,842 $ 212,843 $ 17,078 $ 1,700,290 |
Past Due Financing Receivables [Table Text Block] | Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2015 Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 365,450 $ 1,777 $ 122 $ - $ 768 $ 368,117 Commercial real estate 504,970 5,930 726 - 5,444 517,070 Construction 2,978 - - - - 2,978 Residential real estate 115,575 1,202 414 - 440 117,631 Consumer installment and other 341,566 3,263 919 295 - 346,043 Total originated loans 1,330,539 12,172 2,181 295 6,652 1,351,839 Purchased non-covered loans 158,554 589 7 - 8,346 167,496 Purchased covered loans 13,929 132 - - - 14,061 Total $ 1,503,022 $ 12,893 $ 2,188 $ 295 $ 14,998 $ 1,533,396 Summary of Loans by Delinquency and Nonaccrual Status Current and Accruing 30-59 Days Past Due and Accruing 60-89 Days Past Due and Accruing Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 372,235 $ 1,704 $ 36 $ - $ 30 $ 374,005 Commercial real estate 557,041 6,500 - - 4,053 567,594 Construction 11,003 - - - - 11,003 Residential real estate 144,021 1,513 817 - 574 146,925 Consumer installment and other 365,753 3,310 625 502 652 370,842 Total originated loans 1,450,053 13,027 1,478 502 5,309 1,470,369 Purchased non-covered loans 196,150 4,204 491 - 11,998 212,843 Purchased covered loans 16,389 389 3 - 297 17,078 Total $ 1,662,592 $ 17,620 $ 1,972 $ 502 $ 17,604 $ 1,700,290 |
Effect Of Nonaccrual Loans On Interest Income [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 Interest income that would have been recognized had the loans performed in accordance with their original terms $ 1,277 $ 1,146 $ 1,866 Interest income recognized on nonaccrual loans (362 ) (60 ) (402 ) Total reduction of interest income $ 915 $ 1,086 $ 1,464 |
Impaired Financing Receivables [Table Text Block] | Impaired Loans Recorded Unpaid Balance Related (In thousands) Impaired loans with no related allowance recorded: Commercial $ 2,917 $ 2,979 $ - Commercial real estate 16,309 21,168 - Construction 271 271 - Residential real estate 666 697 - Consumer installment and other 350 456 - Impaired loans with an allowance recorded: Commercial 10,170 10,170 4,942 Commercial real estate 4,660 5,109 585 Construction - - - Residential real estate - - - Consumer installment and other - - - Total: Commercial $ 13,087 $ 13,149 $ 4,942 Commercial real estate 20,969 26,277 585 Construction 271 271 - Residential real estate 666 697 - Consumer installment and other 350 456 - Impaired Loans Recorded Investment Unpaid Balance Related Allowance (In thousands) Impaired loans with no related allowance recorded: Commercial $ 2,031 $ 2,095 $ - Commercial real estate 19,478 25,519 - Construction 1,834 1,884 - Residential real estate 574 574 - Consumer installment and other 1,518 1,628 - Impaired loans with an allowance recorded: Commercial 9,910 9,910 496 Commercial real estate - - - Construction - - - Residential real estate - - - Consumer installment and other - - - Total: Commercial $ 11,941 $ 12,005 $ 496 Commercial real estate 19,478 25,519 - Construction 1,834 1,884 - Residential real estate 574 574 - Consumer installment and other 1,518 1,628 - |
Impaired Financing Receivables Supplemental Schedule [Table Text Block] | Impaired Loans 2015 2014 2013 Average Recognized Income Average Recognized Average Recognized (In thousands) Commercial $ 12,631 $ 584 $ 5,240 $ 325 $ 10,566 $ 222 Commercial real estate 20,307 674 19,880 469 27,186 763 Construction 263 - 2,015 - 2,400 80 Residential real estate 643 31 153 - 362 - Consumer installment and other 739 25 1,399 29 1,469 38 Total $ 34,583 $ 1,314 $ 28,687 $ 823 $ 41,983 $ 1,103 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Troubled Debt Restructurings Number of Pre-Modification Period-End Period-End (In thousands) Commercial 6 $ 3,138 $ 2,802 $ 194 Commercial real estate 10 12,927 12,684 - Residential real estate 1 242 226 - Total 17 $ 16,307 $ 15,712 $ 194 Troubled Debt Restructurings Number of Pre-Modification Period-End Period-End (In thousands) Commercial 3 $ 2,075 $ 1,901 $ - Commercial real estate 4 2,890 2,928 - Consumer installment and other 1 18 8 - Total 8 $ 4,983 $ 4,837 $ - Troubled Debt Restructurings Number of Pre-Modification Period-End Period-End (In thousands) Commercial 4 $ 3,427 $ 3,164 $ - Commercial real estate 2 2,291 2,289 - Total 6 $ 5,718 $ 5,453 $ - |
Note 5 - Premises, Equipment 31
Note 5 - Premises, Equipment and Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Premises And Equipment [Table Text Block] | At December 31, Cost Accumulated Net Book Value (In thousands) 2015 Land $ 11,896 $ - $ 11,896 Building and improvements 40,795 (24,024 ) 16,771 Leasehold improvements 5,696 (4,628 ) 1,068 Furniture and equipment 24,266 (15,308 ) 8,958 Total $ 82,653 $ (43,960 ) $ 38,693 2014 Land $ 11,933 $ - $ 11,933 Building and improvements 40,939 (23,267 ) 17,672 Leasehold improvements 5,742 (4,664 ) 1,078 Furniture and equipment 21,438 (14,269 ) 7,169 Total $ 80,052 $ (42,200 ) $ 37,852 |
Schedule of Other Assets [Table Text Block] | At December 31, 2015 2014 (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,069 $ 14,069 Federal Home Loan Bank stock (2) - 940 Other investments 201 241 Total cost method equity investments 14,270 15,250 Life insurance cash surrender value 48,972 46,479 Net deferred tax asset 51,748 50,903 Limited partnership investments 15,259 18,673 Interest receivable 20,174 19,394 Prepaid assets 4,771 5,609 Other assets 10,660 10,150 Total other assets $ 165,854 $ 166,458 |
Schedule of Amounts Recognized in Net Income [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 (In thousands) Investment loss included in pre-tax income $ 2,850 $ 2,950 $ 3,450 Tax credits recognized in provision for income taxes 2,650 2,825 3,425 |
Note 6 - Goodwill and Identif32
Note 6 - Goodwill and Identifiable Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | At December 31, 2015 2014 (In thousands) Goodwill $ 121,673 $ 121,673 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At December 31, 2015 At December 31, 2014 Gross Carrying Accumulated Amortization Gross Carrying Accumulated Amortization (In thousands) Core Deposit Intangibles $ 56,808 $ (46,782 ) $ 56,808 $ (43,188 ) Merchant Draft Processing Intangible 10,300 (9,895 ) 10,300 (9,633 ) Total Identifiable Intangible Assets $ 67,108 $ (56,677 ) $ 67,108 $ (52,821 ) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Core Merchant Total (In thousands) For the Year ended December 31, 2015 (actual) $ 3,594 $ 262 $ 3,856 Estimate for year ended December 31, 2016 3,292 212 3,504 2017 2,913 164 3,077 2018 1,892 29 1,921 2019 538 - 538 2020 287 - 287 |
Note 7 - Deposits and Borrowe33
Note 7 - Deposits and Borrowed Funds (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Deposits And Borrowed Funds [Abstract] | |
Deposits [Table Text Block] | Deposits 2015 2014 (In thousands) Noninterest-bearing $ 2,026,049 $ 1,910,781 Interest-bearing: Transaction 860,706 792,448 Savings 1,366,936 1,260,819 Time deposits less than $100 thousand 150,780 169,959 Time deposits $100 thousand through $250 thousand 96,971 113,023 Time deposits more than $250 thousand 39,217 102,161 Total deposits $ 4,540,659 $ 4,349,191 |
Schedule of Repurchase Agreements [Table Text Block] | Repurchase Agreements (Sweep) At December 31, 2015 2014 Remaining Contractual Maturity of the Agreements Overnight and Continuous Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ 98,969 $ 80,827 Obligations of states and political subdivisions 3,975 14,251 Corporate securities 54,681 52,936 Total collateral carrying value $ 157,625 $ 148,014 Total short-term borrowed funds $ 53,028 $ 89,784 |
Deposits and Borrowed Funds [Table Text Block] | Balance at Average Balance Weighted Average Balance at Average Balance Weighted Average ($ in thousands) Time deposits over $100 thousand $ 136,188 $ 161,710 0.42 % $ 215,184 $ 237,002 0.38 % Securities sold under repurchase agreements 53,028 75,046 0.07 % 89,784 70,244 0.07 % Federal Home Loan Bank advances - 494 0.20 % 20,015 20,308 2.00 % Term repurchase agreement - - - - 6,082 0.99 % Federal funds purchased - 8 0.48 % - 8 0.48 % |
Borrowed Funds Highest Month End Balance [Table Text Block] | For the Years Ended December 31, 2015 2014 Highest Balance at Any Month-end (In thousands) Securities sold under repurchase agreements $ 89,484 $ 89,784 Federal Home Loan Bank advances - 20,530 Term repurchase agreement - 10,000 |
Note 8 - Shareholders' Equity (
Note 8 - Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable At December 31, 2015 For the Year Ended December 31, 2015 At December 31, 2015 For the Year Ended December 31, 2015 Range of Exercise Price Number Outstanding Aggregate Intrinsic Value Weighted Average Remaining Contractual Life Weighted Average Exercise Price Number Outstanding Aggregate Intrinsic Value Weighted Average Remaining Contractual Life Weighted Average Exercise Price (In thousands) (Years) (In thousands) (Years) $40 - 45 487 $ 1,792 7.9 $ 43 133 $ 432 5.8 $ 44 45 - 50 228 86 3.7 47 228 85 3.7 47 50 - 55 671 - 4.8 52 532 - 4.0 51 55 - 60 163 - 4.1 57 163 - 4.1 57 $40 - 60 1,549 $ 1,878 5.5 49 1,056 $ 517 4.2 50 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 Expected volatility (1) 20 % 16 % 17 % Expected life in years (2) 4.9 4.9 4.8 Risk-free interest rate 1.36 % 1.59 % 0.74 % Expected dividend yield (3) 3.64 % 3.32 % 3.57 % Fair value per award $ 5.46 $ 5.91 $ 4.61 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (In thousands) (Years) Outstanding at January 1, 2015 1,889 $ 50.31 Granted 343 42.70 Exercised (108 ) 45.09 Forfeited or expired (575 ) 50.71 Outstanding at December 31, 2015 1,549 48.83 5.5 Exercisable at December 31, 2015 1,056 50.23 4.2 |
Schedule of Nonvested Share Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value (In thousands) Nonvested at January 1, 2015 499 $ 5.40 Granted 343 5.46 Vested (247 ) 5.34 Forfeited (102 ) 5.45 Nonvested at December 31, 2015 493 $ 5.45 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | 2015 2014 (In thousands) Outstanding at January 1, 50 59 Granted 21 17 Issued upon vesting (17 ) (21 ) Forfeited (9 ) (5 ) Outstanding at December 31, 45 50 |
Note 9 - Risk-based Capital (Ta
Note 9 - Risk-based Capital (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | At December 31, 2015 Transitional Minimum Well-capitalized by Amount Ratio Amount Ratio Amount Ratio ($ in thousands) Common Equity Tier 1 Capital Company 402,876 12.82 % 141,417 4.50 % N/A N/A Bank 340,918 11.00 % 139,412 4.50 % 201,373 6.50 % Tier 1 Capital Company 402,876 12.82 % 188,557 6.00 % N/A N/A Bank 340,918 11.00 % 185,883 6.00 % 247,844 8.00 % Total Capital Company 420,731 13.39 % 251,409 8.00 % N/A N/A Bank 361,880 11.68 % 247,844 8.00 % 309,805 10.00 % Leverage Ratio 1 Company 402,876 7.99 % 201,606 4.00 % N/A N/A Bank 340,918 6.82 % 199,919 4.00 % 249,899 5.00 % At December 31, 2014 Minimum Well-capitalized by Amount Ratio Amount Ratio Amount Ratio ($ in thousands) Tier 1 Capital Company 391,121 13.30 % 117,644 4.00 % 176,467 6.00 % Bank 349,120 12.04 % 116,018 4.00 % 174,027 6.00 % Total Capital Company 427,612 14.54 % 235,289 8.00 % 294,111 10.00 % Bank 391,219 13.49 % 232,036 8.00 % 290,045 10.00 % Leverage Ratio 1 Company 391,121 7.95 % 196,809 4.00 % 246,011 5.00 % Bank 349,120 7.16 % 195,149 4.00 % 243,936 5.00 % |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | At December 31, 2015 2014 (In thousands) Deferred tax asset Allowance for credit losses $ 13,466 $ 14,220 State franchise taxes 2,612 2,867 Deferred compensation 8,082 7,839 Real estate owned 1,062 1,041 Purchased assets and assumed liabilities 4,975 6,389 Post-retirement benefits 1,072 1,097 Employee benefit accruals 3,772 4,692 VISA Class B shares 1,691 1,706 Limited partnership investments 760 1,332 Impaired capital assets 19,074 18,941 Leases - 84 Premises and equipment 205 538 Other 397 730 Subtotal deferred tax asset 57,168 61,476 Valuation allowance - - Total deferred tax asset 57,168 61,476 Deferred tax liability Net deferred loan fees 456 461 Intangible assets 4,294 5,770 Securities available for sale 542 3,919 Other 128 423 Total deferred tax liability 5,420 10,573 Net deferred tax asset $ 51,748 $ 50,903 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 (In thousands) Current income tax expense: Federal $ 9,647 $ 11,950 $ 13,975 State 6,738 7,802 8,597 Total current 16,385 19,752 22,572 Deferred income tax expense (benefit): Federal 1,643 (1,220 ) (2,518 ) State (109 ) (225 ) (1,109 ) Total deferred 1,534 (1,445 ) (3,627 ) Provision for income taxes $ 17,919 $ 18,307 $ 18,945 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 (In thousands) Federal income taxes due at statutory rate $ 26,835 $ 27,634 $ 30,142 Reductions in income taxes resulting from: Interest on state and municipal securities and loans not taxable for federal income tax purposes (9,046 ) (10,173 ) (11,565 ) State franchise taxes, net of federal income tax benefit 4,309 4,925 4,712 Tax credits (2,600 ) (2,700 ) (3,190 ) Dividend received deduction (45 ) (39 ) (32 ) Cash value life insurance (599 ) (641 ) (747 ) Other (935 ) (699 ) (375 ) Provision for income taxes $ 17,919 $ 18,307 $ 18,945 |
Summary of Income Tax Contingencies [Table Text Block] | 2015 2014 (In thousands) Balance at January 1, $ 1,635 $ 1,437 Additions for tax positions taken in the current period - 245 Reductions for tax positions taken in the current period - - Additions for tax positions taken in prior years 55 - Reductions for tax positions taken in prior years (447 ) (47 ) Decrease related to settlements with taxing authorities - - Decrease as a result of a lapse in statute of limitations - - Balance at December 31, $ 1,243 $ 1,635 |
Note 11 - Fair Value Measurem37
Note 11 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | At December 31, 2015 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) Securities of U.S. Government sponsored entities $ 301,882 $ - $ 301,882 $ - Agency residential MBS 202,544 - 202,544 - Non-agency residential MBS 370 370 - Agency commercial MBS 2,379 - 2,379 - Obligations of states and political subdivisions 157,509 - 157,509 - Asset-backed securities 2,003 - 2,003 - FHLMC and FNMA stock 4,329 7 4,322 - Corporate securities 896,369 - 896,369 - Other securities 2,831 991 1,840 - Total securities available for sale $ 1,570,216 $ 998 $ 1,569,218 $ - At December 31, 2014 Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs (In thousands) U.S. Treasury securities $ 3,505 $ 3,505 $ - $ - Securities of U.S. Government sponsored entities 635,188 635,188 - - Residential MBS 26,407 - 26,407 - Commercial MBS 2,919 - 2,919 - Residential CMO 222,457 - 222,457 - Obligations of states and political subdivisions 181,799 - 181,799 - Asset-backed securities 8,313 - 8,313 - FHLMC and FNMA stock 5,168 5,168 - - Corporate securities 512,239 - 512,239 - Other securities 2,786 910 1,876 - Total securities available for sale $ 1,600,781 $ 644,771 $ 956,010 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | At December 31, 2015 For the Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 9,264 $ - $ - $ 9,264 $ (320 ) Impaired loans 15,633 - - 15,633 (449 ) Total assets measured at fair value on a nonrecurring basis $ 24,897 $ - $ - $ 24,897 $ (769 ) At December 31, 2014 For the Fair Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 6,374 $ - $ 6,374 $ - $ (358 ) Impaired loans 17,085 - 7,670 9,415 (884 ) Total assets measured at fair value on a nonrecurring basis $ 23,459 $ - $ 14,044 $ 9,415 $ (1,242 ) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | At December 31, 2015 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 433,044 $ 433,044 $ 433,044 $ - $ - Investment securities held to maturity 1,316,075 1,325,699 - 1,325,699 - Loans 1,503,625 1,517,394 - - 1,517,394 Financial Liabilities: Deposits $ 4,540,659 $ 4,539,455 $ - $ 4,253,691 $ 285,764 Short-term borrowed funds 53,028 53,028 - 53,028 - At December 31, 2014 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: (In thousands) Cash and due from banks $ 380,836 $ 380,836 $ 380,836 $ - $ - Investment securities held to maturity 1,038,658 1,048,562 1,077 1,047,485 - Loans 1,668,805 1,685,048 - - 1,685,048 Financial Liabilities: Deposits $ 4,349,191 $ 4,348,958 $ - $ 3,964,048 $ 384,910 Short-term borrowed funds 89,784 89,784 - 89,784 - Federal Home Loan Bank advances 20,015 20,014 20,014 - - |
Note 12 - Lease Commitments (Ta
Note 12 - Lease Commitments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (In thousands) 2016 $ 6,708 2017 5,814 2018 5,073 2019 3,551 2020 1,998 Thereafter 1,516 Total minimum lease payments $ 24,660 |
Note 14 - Retirement Benefit 39
Note 14 - Retirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Net Benefit Costs [Table Text Block] | At December 31, 2015 2014 2013 (In thousands) Service (benefit) cost $ (202 ) $ 288 $ (153 ) Interest cost 106 122 110 Amortization of unrecognized transition obligation 61 61 61 Net periodic (benefit) cost $ (35 ) $ 471 $ 18 Amortization of unrecognized transition obligation, net of tax (36 ) (36 ) (36 ) Total recognized in net periodic (benefit) cost and accumulated other comprehensive income $ (71 ) $ 435 $ (18 ) |
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | At December 31, 2015 2014 2013 Change in benefit obligation (In thousands) Benefit obligation at beginning of year $ 2,782 $ 2,544 $ 2,755 Service (benefit) cost (202 ) 288 (153 ) Interest cost 106 122 110 Benefits paid (164 ) (172 ) (168 ) Benefit obligation at end of year $ 2,522 $ 2,782 $ 2,544 Accumulated post-retirement benefit obligation attributable to: Retirees $ 1,695 $ 1,732 $ 1,443 Fully eligible participants 809 998 983 Other 18 52 118 Total $ 2,522 $ 2,782 $ 2,544 Fair value of plan assets - - - Accumulated post-retirement benefit obligation in excess of plan assets $ 2,522 $ 2,782 $ 2,544 |
Schedule of Assumptions Used [Table Text Block] | At December 31, 2015 2014 2013 (In thousands) Weighted-average assumptions used to determine benefit obligations Discount rate 4.30 % 3.80 % 4.80 % Weighted-average assumptions used to determine net periodic benefit cost Discount rate 3.80 % 4.80 % 4.00 % |
Schedule of Expected Benefit Payments [Table Text Block] | Estimated future benefit payments (In thousands) 2016 $ 165 2017 165 2018 160 2019 156 2020 152 Years 2021-2025 700 |
Note 15 - Related Party Trans40
Note 15 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule Of Loans To Related Parties [Table Text Block] | 2015 2014 (In thousands) Balance at January 1, $ 957 $ 1,013 Originations - - Principal reductions (46 ) (56 ) Balance at December 31, $ 911 $ 957 Percent of total loans outstanding. 0.06 % 0.06 % |
Note 17 - Other Comprehensive41
Note 17 - Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) [Table Text Block] | 2015 Before tax Tax effect Net of tax (In thousands) Securities available for sale: Net unrealized losses arising during the year $ (8,028 ) $ 3,375 $ (4,653 ) Reclassification of gains (losses) included in net income - - - Net unrealized losses arising during the year (8,028 ) 3,375 (4,653 ) Post-retirement benefit obligation 61 (25 ) 36 Other comprehensive loss $ (7,967 ) $ 3,350 $ (4,617 ) 2014 Before tax Tax effect Net of tax (In thousands) Securities available for sale: Net unrealized gains arising during the year $ 1,627 $ (684 ) $ 943 Reclassification of gains (losses) included in net income - - - Net unrealized gains arising during the year 1,627 (684 ) 943 Post-retirement benefit obligation 61 (25 ) 36 Other comprehensive income $ 1,688 $ (709 ) $ 979 2013 Before tax Tax effect Net of tax (In thousands) Securities available for sale: Net unrealized losses arising during the year $ (17,855 ) $ 7,507 $ (10,348 ) Reclassification of gains (losses) included in net income - - - Net unrealized losses arising during the year (17,855 ) 7,507 (10,348 ) Post-retirement benefit obligation 61 (25 ) 36 Other comprehensive loss $ (17,794 ) $ 7,482 $ (10,312 ) |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Post-retirement Benefit Obligation Net Unrealized Gains (losses) on Securities Accumulated Other Comprehensive Income (loss) (In thousands) Balance, December 31, 2012 $ (178 ) $ 14,803 $ 14,625 Net change 36 (10,348 ) (10,312 ) Balance, December 31, 2013 (142 ) 4,455 4,313 Net change 36 943 979 Balance, December 31, 2014 (106 ) 5,398 5,292 Net change 36 (4,653 ) (4,617 ) Balance, December 31, 2015 $ (70 ) $ 745 $ 675 |
Note 18 - Earnings Per Common42
Note 18 - Earnings Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 (In thousands, except per share data) Net income (numerator) $ 58,753 $ 60,646 $ 67,177 Basic earnings per common share Weighted average number of common shares outstanding - basic (denominator) 25,555 26,099 26,826 Basic earnings per common share $ 2.30 $ 2.32 $ 2.50 Diluted earnings per common share Weighted average number of common shares outstanding - basic 25,555 26,099 26,826 Add common stock equivalents for options 22 61 51 Weighted average number of common shares outstanding - diluted (denominator) 25,577 26,160 26,877 Diluted earnings per common share $ 2.30 $ 2.32 $ 2.50 |
Note 19 - Westamerica Bancorp43
Note 19 - Westamerica Bancorporation (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Statements Of Income And Comprehensive Income, Parent Only [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 (In thousands) Dividends from subsidiaries $ 68,981 $ 75,369 $ 88,754 Interest income 10 7 14 Other income 8,411 7,182 8,684 Total income 77,402 82,558 97,452 Interest on borrowings 1 42 707 Salaries and benefits 6,291 6,587 7,120 Other expense 3,424 1,704 2,174 Total expense 9,716 8,333 10,001 Income before taxes and equity in undistributed income of subsidiaries 67,686 74,225 87,451 Income tax benefit 803 742 732 Earnings of subsidiaries less than subsidiary dividends (9,736 ) (14,321 ) (21,006 ) Net income 58,753 60,646 67,177 Other comprehensive (loss) income, net of tax (4,617 ) 979 (10,312 ) Comprehensive income $ 54,136 $ 61,625 $ 56,865 |
Balance Sheets, Parent Only [Table Text Block] | At December 31, 2015 2014 (In thousands) Assets Cash $ 26,453 $ 7,451 Investment securities available for sale 991 910 Investment in Westamerica Bank 475,697 490,098 Investment in non-bank subsidiaries 455 456 Premises and equipment, net 9,391 9,679 Accounts receivable from Westamerica Bank 552 323 Other assets 33,850 32,974 Total assets $ 547,389 $ 541,891 Liabilities Accounts payable to Westamerica Bank $ 737 $ 790 Other liabilities 14,447 14,498 Total liabilities 15,184 15,288 Shareholders' equity 532,205 526,603 Total liabilities and shareholders' equity $ 547,389 $ 541,891 |
Statements Of Cash Flows, Parent Only [Table Text Block] | For the Years Ended December 31, 2015 2014 2013 (In thousands) Operating Activities Net income $ 58,753 $ 60,646 $ 67,177 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 326 341 312 (Increase) decrease in accounts receivable from affiliates (217 ) (17 ) 26 Increase in other assets (1,713 ) (1,668 ) (926 ) Stock option compensation expense 1,272 1,318 1,397 Tax benefit decrease upon exercise of stock options 1,284 447 298 (Benefit) provision for deferred income tax (491 ) 616 (769 ) Increase (decrease) in other liabilities 743 (814 ) 2,573 Earnings of subsidiaries less than subsidiary dividends 9,736 14,321 21,006 Gain on sales of property and equipment (39 ) (88 ) (259 ) Net Cash Provided by Operating Activities 69,654 75,102 90,835 Investing Activities Purchases of premises and equipment - - - Net Cash Provided by Investing Activities - - - Financing Activities Net reductions in debt financing - - (15,000 ) Exercise of stock options/issuance of shares 4,848 12,396 21,499 Tax benefit decrease upon exercise of stock options (1,284 ) (447 ) (298 ) Retirement of common stock including repurchases (15,092 ) (52,678 ) (57,320 ) Dividends (39,124 ) (39,761 ) (40,096 ) Net Cash Used in Financing Activities (50,652 ) (80,490 ) (91,215 ) Net change in cash 19,002 (5,388 ) (380 ) Cash at Beginning of Period 7,451 12,839 13,219 Cash at End of Period $ 26,453 $ 7,451 $ 12,839 Supplemental Cash Flow Disclosures: Supplemental disclosure of cash flow activities: Interest paid for the period $ 1 $ 42 $ 840 Income tax payments for the period 17,666 16,412 22,562 |
Note 20 - Quarterly Financial44
Note 20 - Quarterly Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | For the Three Months Ended March 31, June 30, September 30, December 31, (In thousands, expect per share data and price range of common stock) 2015 Interest and loan fee income $ 33,917 $ 34,425 $ 34,299 $ 33,888 Net interest income 33,258 33,808 33,714 33,325 Provision for credit losses - - - - Noninterest income 12,300 12,269 11,993 11,305 Noninterest expense 26,727 26,896 26,173 25,504 Income before taxes 18,831 19,181 19,534 19,126 Net income 14,557 14,761 14,857 14,578 Basic earnings per common share 0.57 0.58 0.58 0.57 Diluted earnings per common share 0.57 0.58 0.58 0.57 Dividends paid per common share 0.38 0.38 0.38 0.39 Price range, common stock 40.57 - 49.45 42.09 - 52.16 42.97 - 52.40 41.99 - 49.89 2014 Interest and loan fee income $ 35,564 $ 35,403 $ 34,900 $ 34,342 Net interest income 34,666 34,503 34,054 33,542 Provision for credit losses 1,000 1,000 600 200 Noninterest income 12,990 13,198 13,054 12,545 Noninterest expense 26,873 26,957 26,616 26,353 Income before taxes 19,783 19,744 19,892 19,534 Net income 15,307 15,157 15,154 15,028 Basic earnings per common share 0.58 0.58 0.58 0.58 Diluted earnings per common share 0.58 0.58 0.58 0.58 Dividends paid per common share 0.38 0.38 0.38 0.38 Price range, common stock 48.36 - 56.51 47.85 - 55.34 46.12 - 53.93 42.71 - 51.24 2013 Interest and loan fee income $ 40,465 $ 39,269 $ 37,956 $ 36,706 Net interest income 39,213 38,050 36,780 35,682 Provision for credit losses 2,800 1,800 1,800 1,600 Noninterest income 14,278 14,284 14,419 14,030 Noninterest expense 28,677 28,192 27,758 27,987 Income before taxes 22,014 22,342 21,641 20,125 Net income 17,271 17,112 16,738 16,056 Basic earnings per common share 0.64 0.64 0.63 0.60 Diluted earnings per common share 0.64 0.64 0.63 0.60 Dividends paid per common share 0.37 0.37 0.37 0.38 Price range, common stock 42.59 - 45.80 41.76 - 46.56 45.73 - 50.78 48.29 - 57.59 |
Note 1 - Business and Account45
Note 1 - Business and Accounting Policies (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Note 1 - Business and Accounting Policies (Details) [Line Items] | |
Loans and Leases Receivable, Days Before Nonaccrual Status | 90 days |
Loans and Leases Receivable, Certain Consumer Loans and Auto Receivables, Days Before Charge-off | 120 days |
Financing Receivable Impairment Evaluation Criterion Minimum Outstanding Principal Balance (in Dollars) | $ 500 |
FDIC Indemnification Rate | 80.00% |
FDIC Indemnification Rate, Duration of Interest Covered | 90 days |
Minimum [Member] | Land, Buildings and Improvements [Member] | |
Note 1 - Business and Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 20 years |
Minimum [Member] | Equipment [Member] | |
Note 1 - Business and Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 3 years |
Maximum [Member] | |
Note 1 - Business and Accounting Policies (Details) [Line Items] | |
Finite-Lived Intangible Asset, Useful Life | 15 years |
Maximum [Member] | Land, Buildings and Improvements [Member] | |
Note 1 - Business and Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 50 years |
Maximum [Member] | Equipment [Member] | |
Note 1 - Business and Accounting Policies (Details) [Line Items] | |
Property, Plant and Equipment, Useful Life | 20 years |
Note 2 - Investment Securitie46
Note 2 - Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 2 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | $ 1,044,453 | $ 630,797 |
High-Risk Collateralized Mortgage Obligations | 0 | 0 |
Pledged Financial Instruments, Not Separately Reported, Securities | 738,865 | $ 757,623 |
Call Option [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 2 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 265,921 | |
Call Option [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Interest Coupons [Member] | ||
Note 2 - Investment Securities (Details) [Line Items] | ||
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | $ 28,020 |
Note 2 - Investment Securitie47
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | $ 1,568,927 | $ 1,591,464 | |
Gross Unrealized Gains | 15,932 | 20,806 | |
Gross Unrealized Losses | (14,643) | (11,489) | |
Fair Value | 1,570,216 | 1,600,781 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 302,292 | 635,278 | |
Gross Unrealized Gains | 255 | 937 | |
Gross Unrealized Losses | (665) | (1,027) | |
Fair Value | 301,882 | 635,188 | |
Agency Residential MBS [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 208,046 | ||
Gross Unrealized Gains | 1,407 | ||
Gross Unrealized Losses | (6,909) | ||
Fair Value | 202,544 | ||
Non-agency Residential MBS [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 354 | ||
Gross Unrealized Gains | 16 | ||
Fair Value | 370 | ||
Non-agency Commercial MBS [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 2,383 | ||
Gross Unrealized Gains | 5 | ||
Gross Unrealized Losses | (9) | ||
Fair Value | 2,379 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 148,705 | 171,907 | |
Gross Unrealized Gains | 8,861 | 10,015 | |
Gross Unrealized Losses | (57) | (123) | |
Fair Value | 157,509 | 181,799 | |
Asset-backed Securities [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 2,025 | 8,349 | |
Gross Unrealized Losses | (22) | (36) | |
Fair Value | 2,003 | 8,313 | |
FHLMC And FNMA Stock [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | [1],[2] | 775 | 775 |
Gross Unrealized Gains | [1],[2] | $ 3,554 | $ 4,393 |
Gross Unrealized Losses | [1],[2] | ||
Fair Value | [1],[2] | $ 4,329 | $ 5,168 |
Domestic Corporate Debt Securities [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 902,308 | 511,699 | |
Gross Unrealized Gains | 882 | 2,169 | |
Gross Unrealized Losses | (6,821) | (1,629) | |
Fair Value | 896,369 | 512,239 | |
Other Securities [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 2,039 | 2,039 | |
Gross Unrealized Gains | 952 | 871 | |
Gross Unrealized Losses | (160) | (124) | |
Fair Value | $ 2,831 | 2,786 | |
US Treasury Securities [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 3,500 | ||
Gross Unrealized Gains | 5 | ||
Fair Value | 3,505 | ||
Residential Mortgage Backed Securities [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 24,647 | ||
Gross Unrealized Gains | 1,776 | ||
Gross Unrealized Losses | (16) | ||
Fair Value | 26,407 | ||
Commercial Mortgage Backed Securities [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 2,923 | ||
Gross Unrealized Gains | 6 | ||
Gross Unrealized Losses | (10) | ||
Fair Value | 2,919 | ||
Residential Collateralized Mortgage Obligations [Member] | |||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio [Line Items] | |||
Amortized Cost | 230,347 | ||
Gross Unrealized Gains | 634 | ||
Gross Unrealized Losses | (8,524) | ||
Fair Value | $ 222,457 | ||
[1] | Federal Home Loan Mortgage Corporation | ||
[2] | Federal National Mortgage Association |
Note 2 - Investment Securitie48
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | $ 1,316,075 | $ 1,038,658 |
Gross Unrecognized Gains | 15,653 | 14,780 |
Gross Unrecognized Losses | (6,029) | (4,876) |
Fair Value | 1,325,699 | 1,048,562 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 764 | 1,066 |
Gross Unrecognized Gains | 11 | |
Fair Value | 764 | 1,077 |
Agency Residential MBS [Member] | ||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 595,503 | |
Gross Unrecognized Gains | 1,810 | |
Gross Unrecognized Losses | (4,966) | |
Fair Value | 592,347 | |
Non-agency Residential MBS [Member] | ||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 9,667 | |
Gross Unrecognized Gains | 185 | |
Fair Value | 9,852 | |
Agency Commercial MBS [Member] | ||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 16,258 | |
Gross Unrecognized Gains | 20 | |
Gross Unrecognized Losses | (274) | |
Fair Value | 16,004 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 693,883 | 720,189 |
Gross Unrecognized Gains | 13,638 | 11,350 |
Gross Unrecognized Losses | (789) | (2,358) |
Fair Value | $ 706,732 | 729,181 |
Residential Mortgage Backed Securities [Member] | ||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 59,078 | |
Gross Unrecognized Gains | 1,183 | |
Gross Unrecognized Losses | (137) | |
Fair Value | 60,124 | |
Residential Collateralized Mortgage Obligations [Member] | ||
Note 2 - Investment Securities (Details) - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio [Line Items] | ||
Amortized Cost | 258,325 | |
Gross Unrecognized Gains | 2,236 | |
Gross Unrecognized Losses | (2,381) | |
Fair Value | $ 258,180 |
Note 2 - Investment Securitie49
Note 2 - Investment Securities (Details) - Amortized Cost and Estimated Market Value of Securities by Contractual Maturity - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Maturity in years: | ||
Securities Available for Sale, Amortized Cost, 1 year or less | $ 136,717 | $ 57,891 |
Securities Available for Sale, Estimated Market Value, 1 year or less | 136,976 | 57,991 |
Securities Held to Maturity, Amortized Cost, 1 year or less | 20,709 | 15,355 |
Securities Held to Maturity, Estimated Market Value, 1 year or less | 21,354 | 15,855 |
Securities Available for Sale, Amortized Cost, Over 1 to 5 years | 1,049,786 | 629,200 |
Securities Available for Sale, Estimated Market Value, Over 1 to 5 years | 1,044,453 | 630,797 |
Securities Held to Maturity, Amortized Cost, Over 1 to 5 years | 259,556 | 228,380 |
Securities Held to Maturity, Estimated Market Value, Over 1 to 5 years | 262,163 | 230,248 |
Securities Available for Sale, Amortized Cost, Over 5 to 10 years | 166,352 | 584,872 |
Securities Available for Sale, Estimated Market Value, Over 5 to 10 years | 173,585 | 589,250 |
Securities Held to Maturity, Amortized Cost, Over 5 to 10 years | 289,568 | 285,219 |
Securities Held to Maturity, Estimated Market Value, Over 5 to 10 years | 296,352 | 288,631 |
Securities Available for Sale, Amortized Cost, Over 10 years | 2,475 | 58,770 |
Securities Available for Sale, Estimated Market Value, Over 10 years | 2,749 | 63,006 |
Securities Held to Maturity, Amortized Cost, Over 10 years | 124,814 | 192,301 |
Securities Held to Maturity, Estimated Market Value, Over 10 years | 127,627 | 195,524 |
Securities Available for Sale, Amortized Cost, Subtotal | 1,355,330 | 1,330,733 |
Securities Available for Sale, Estimated Market Value, Subtotal | 1,357,763 | 1,341,044 |
Securities Held to Maturity, Amortized Cost, Subtotal | 694,647 | 721,255 |
Securities Held to Maturity, Estimated Market Value, Subtotal | 707,496 | 730,258 |
Securities Available for Sale, Amortized Cost, Mortgage-backed securities and residential collateralized mortgage obligations | 210,783 | 257,917 |
Securities Available for Sale, Estimated Market Value, Mortgage-backed securities and residential collateralized mortgage obligations | 205,293 | 251,783 |
Securities Held to Maturity, Amortized Cost, Mortgage-backed securities and residential collateralized mortgage obligations | 621,428 | 317,403 |
Securities Held to Maturity, Estimated Market Value, Mortgage-backed securities and residential collateralized mortgage obligations | 618,203 | 318,304 |
Securities Available for Sale, Amortized Cost, Other securities | 2,814 | 2,814 |
Securities Available for Sale, Estimated Market Value, Other securities | 7,160 | 7,954 |
Securities Available for Sale, Amortized Cost, Total | 1,568,927 | 1,591,464 |
Securities Available for Sale, Estimated Market Value, Total | 1,570,216 | 1,600,781 |
Securities Held to Maturity, Amortized Cost, Total | 1,316,075 | 1,038,658 |
Securities Held to Maturity, Estimated Market Value, Total | $ 1,325,699 | $ 1,048,562 |
Note 2 - Investment Securitie50
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 111 | 77 |
Available for sale securities, less than 12 months, fair value | $ 685,859 | $ 427,156 |
Available for sale securities, less than 12 months, unrealized losses | $ (6,491) | $ (2,325) |
Available for sale securities, 12 months or longer, number of investment positions | 63 | 60 |
Available for sale securities, 12 months or longer, fair value | $ 254,400 | $ 261,583 |
Available for sale securities, 12 months or longer, unrealized losses | $ (8,152) | $ (9,164) |
Available for sale securities, total, number of investment positions | 174 | 137 |
Available for sale securities, total, fair value | $ 940,259 | $ 688,739 |
Available for sale securities, total, unrealized losses | $ (14,643) | $ (11,489) |
Held to Maturity securities, less than 12 months, number of investment positions | 96 | 112 |
Held to Maturity securities, less than 12 months, fair value | $ 470,902 | $ 109,601 |
Held to Maturity securities, less than 12 months, unrealized losses | $ (3,739) | $ (737) |
Held to Maturity securities, 12 months or longer, number of investment positions | 69 | 161 |
Held to Maturity securities, 12 months or longer, fair value | $ 118,073 | $ 243,084 |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (2,290) | $ (4,139) |
Held to Maturity securities, total, number of investment positions | 165 | 273 |
Held to Maturity securities, total, fair value | $ 588,975 | $ 352,685 |
Held to Maturity securities, total, unrealized losses | $ (6,029) | $ (4,876) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 8 | 15 |
Available for sale securities, less than 12 months, fair value | $ 121,392 | $ 253,632 |
Available for sale securities, less than 12 months, unrealized losses | $ (665) | $ (989) |
Available for sale securities, 12 months or longer, number of investment positions | 1 | |
Available for sale securities, 12 months or longer, fair value | $ 9,963 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (38) | |
Available for sale securities, total, number of investment positions | 8 | 16 |
Available for sale securities, total, fair value | $ 121,392 | $ 263,595 |
Available for sale securities, total, unrealized losses | $ (665) | $ (1,027) |
Residential Mortgage Backed Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, 12 months or longer, number of investment positions | 2 | |
Available for sale securities, 12 months or longer, fair value | $ 822 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (16) | |
Available for sale securities, total, number of investment positions | 2 | |
Available for sale securities, total, fair value | $ 822 | |
Available for sale securities, total, unrealized losses | $ (16) | |
Held to Maturity securities, less than 12 months, number of investment positions | 4 | |
Held to Maturity securities, less than 12 months, fair value | $ 19,467 | |
Held to Maturity securities, less than 12 months, unrealized losses | $ (132) | |
Held to Maturity securities, 12 months or longer, number of investment positions | 1 | |
Held to Maturity securities, 12 months or longer, fair value | $ 201 | |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (5) | |
Held to Maturity securities, total, number of investment positions | 5 | |
Held to Maturity securities, total, fair value | $ 19,668 | |
Held to Maturity securities, total, unrealized losses | $ (137) | |
Commercial Mortgage Backed Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | |
Available for sale securities, less than 12 months, fair value | $ 942 | |
Available for sale securities, less than 12 months, unrealized losses | $ (7) | |
Available for sale securities, 12 months or longer, number of investment positions | 1 | |
Available for sale securities, 12 months or longer, fair value | $ 803 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (3) | |
Available for sale securities, total, number of investment positions | 2 | |
Available for sale securities, total, fair value | $ 1,745 | |
Available for sale securities, total, unrealized losses | $ (10) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 3 | 7 |
Available for sale securities, less than 12 months, fair value | $ 2,728 | $ 2,548 |
Available for sale securities, less than 12 months, unrealized losses | $ (18) | $ (18) |
Available for sale securities, 12 months or longer, number of investment positions | 4 | 17 |
Available for sale securities, 12 months or longer, fair value | $ 1,644 | $ 5,518 |
Available for sale securities, 12 months or longer, unrealized losses | $ (39) | $ (105) |
Available for sale securities, total, number of investment positions | 7 | 24 |
Available for sale securities, total, fair value | $ 4,372 | $ 8,066 |
Available for sale securities, total, unrealized losses | $ (57) | $ (123) |
Held to Maturity securities, less than 12 months, number of investment positions | 55 | 103 |
Held to Maturity securities, less than 12 months, fair value | $ 44,585 | $ 76,202 |
Held to Maturity securities, less than 12 months, unrealized losses | $ (249) | $ (439) |
Held to Maturity securities, 12 months or longer, number of investment positions | 54 | 138 |
Held to Maturity securities, 12 months or longer, fair value | $ 42,081 | $ 123,370 |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (540) | $ (1,919) |
Held to Maturity securities, total, number of investment positions | 109 | 241 |
Held to Maturity securities, total, fair value | $ 86,666 | $ 199,572 |
Held to Maturity securities, total, unrealized losses | $ (789) | $ (2,358) |
Asset-backed Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | |
Available for sale securities, less than 12 months, fair value | $ 5,008 | |
Available for sale securities, less than 12 months, unrealized losses | $ (7) | |
Available for sale securities, 12 months or longer, number of investment positions | 1 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 2,003 | $ 3,305 |
Available for sale securities, 12 months or longer, unrealized losses | $ (22) | $ (29) |
Available for sale securities, total, number of investment positions | 1 | 2 |
Available for sale securities, total, fair value | $ 2,003 | $ 8,313 |
Available for sale securities, total, unrealized losses | $ (22) | $ (36) |
Domestic Corporate Debt Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 97 | 53 |
Available for sale securities, less than 12 months, fair value | $ 548,177 | $ 165,026 |
Available for sale securities, less than 12 months, unrealized losses | $ (5,442) | $ (1,304) |
Available for sale securities, 12 months or longer, number of investment positions | 25 | 5 |
Available for sale securities, 12 months or longer, fair value | $ 86,762 | $ 34,222 |
Available for sale securities, 12 months or longer, unrealized losses | $ (1,379) | $ (325) |
Available for sale securities, total, number of investment positions | 122 | 58 |
Available for sale securities, total, fair value | $ 634,939 | $ 199,248 |
Available for sale securities, total, unrealized losses | $ (6,821) | $ (1,629) |
Other Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, 12 months or longer, number of investment positions | 1 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 1,840 | $ 1,876 |
Available for sale securities, 12 months or longer, unrealized losses | $ (160) | $ (124) |
Available for sale securities, total, number of investment positions | 1 | 1 |
Available for sale securities, total, fair value | $ 1,840 | $ 1,876 |
Available for sale securities, total, unrealized losses | $ (160) | $ (124) |
Residential Collateralized Mortgage Obligations [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, 12 months or longer, number of investment positions | 32 | |
Available for sale securities, 12 months or longer, fair value | $ 205,074 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (8,524) | |
Available for sale securities, total, number of investment positions | 32 | |
Available for sale securities, total, fair value | $ 205,074 | |
Available for sale securities, total, unrealized losses | $ (8,524) | |
Held to Maturity securities, less than 12 months, number of investment positions | 5 | |
Held to Maturity securities, less than 12 months, fair value | $ 13,932 | |
Held to Maturity securities, less than 12 months, unrealized losses | $ (166) | |
Held to Maturity securities, 12 months or longer, number of investment positions | 22 | |
Held to Maturity securities, 12 months or longer, fair value | $ 119,513 | |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (2,215) | |
Held to Maturity securities, total, number of investment positions | 27 | |
Held to Maturity securities, total, fair value | $ 133,445 | |
Held to Maturity securities, total, unrealized losses | $ (2,381) | |
Agency Securities [Member] | Residential Mortgage Backed Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 2 | |
Available for sale securities, less than 12 months, fair value | $ 12,491 | |
Available for sale securities, less than 12 months, unrealized losses | $ (366) | |
Available for sale securities, 12 months or longer, number of investment positions | 31 | |
Available for sale securities, 12 months or longer, fair value | $ 161,296 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (6,543) | |
Available for sale securities, total, number of investment positions | 33 | |
Available for sale securities, total, fair value | $ 173,787 | |
Available for sale securities, total, unrealized losses | $ (6,909) | |
Held to Maturity securities, less than 12 months, number of investment positions | 41 | |
Held to Maturity securities, less than 12 months, fair value | $ 426,317 | |
Held to Maturity securities, less than 12 months, unrealized losses | $ (3,490) | |
Held to Maturity securities, 12 months or longer, number of investment positions | 13 | |
Held to Maturity securities, 12 months or longer, fair value | $ 62,041 | |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (1,476) | |
Held to Maturity securities, total, number of investment positions | 54 | |
Held to Maturity securities, total, fair value | $ 488,358 | |
Held to Maturity securities, total, unrealized losses | $ (4,966) | |
Agency Securities [Member] | Commercial Mortgage Backed Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Held to Maturity securities, 12 months or longer, number of investment positions | 2 | |
Held to Maturity securities, 12 months or longer, fair value | $ 13,951 | |
Held to Maturity securities, 12 months or longer, unrealized losses | $ (274) | |
Held to Maturity securities, total, number of investment positions | 2 | |
Held to Maturity securities, total, fair value | $ 13,951 | |
Held to Maturity securities, total, unrealized losses | $ (274) | |
Non-agency Securites [Member] | Commercial Mortgage Backed Securities [Member] | ||
Note 2 - Investment Securities (Details) - Gross Unrealized Losses, Investment Securities Portfolio [Line Items] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | |
Available for sale securities, less than 12 months, fair value | $ 1,071 | |
Available for sale securities, 12 months or longer, number of investment positions | 1 | |
Available for sale securities, 12 months or longer, fair value | $ 855 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (9) | |
Available for sale securities, total, number of investment positions | 2 | |
Available for sale securities, total, fair value | $ 1,926 | |
Available for sale securities, total, unrealized losses | $ (9) |
Note 2 - Investment Securitie51
Note 2 - Investment Securities (Details) - Interest Income from Investment Securities - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest Income from Investment Securities [Abstract] | |||
Taxable | $ 34,472 | $ 24,766 | $ 22,201 |
Tax-exempt from regular federal income tax | 23,616 | 26,387 | 29,569 |
Total interest income from investment securities | $ 58,088 | $ 51,153 | $ 51,770 |
Note 3 - Loans and Allowance 52
Note 3 - Loans and Allowance for Credit Losses (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2015USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Loans and Leases Receivable, Nonaccrual, Commitment to Lend | $ 0 | $ 0 | ||
Financing Receivable, Modifications, Recorded Investment | $ 15,712 | $ 4,837 | $ 5,453 | |
Troubled Debt Restructurings During Period | 10 | 5 | 5 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ||
Payments for Federal Home Loan Bank Advances | $ 20,015 | |||
Long-term Federal Home Loan Bank Advances | $ 20,015 | |||
Restricted Pledged Loans | 18,366 | |||
Loans Receivable Held-for-sale, Amount | $ 0 | 0 | ||
Other Real Estate | 9,264 | 6,374 | ||
Other Real Estate, Reserve | 1,986 | 2,390 | ||
Mortgage Loans in Process of Foreclosure, Amount | 0 | 967 | ||
Under-Market Terms, Extended Maturity Date and Court Orders [Member] | ||||
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | $ 11,026 | |||
Under Market, Modification to Payment Terms, and Extended Maturity Date [Member] | ||||
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Troubled Debt Restructurings During Period | 4 | |||
Court Order [Member] | ||||
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Troubled Debt Restructurings During Period | 6 | |||
Extended Maturity Date and Deferred Principal Repayment [Member] | ||||
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | $ 713 | |||
Troubled Debt Restructurings During Period | 5 | |||
Lower Interest Rate, Extend Maturity Date, and Deferred Principal Repayment [Member] | ||||
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | $ 4,966 | |||
Troubled Debt Restructurings During Period | 5 | |||
Restructured Loans [Member] | ||||
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | $ 15,712 | $ 4,837 | ||
Impaired Loans, Restructured, Nonaccrual Status | 7,464 | 0 | ||
Commercial Real Estate Loans [Member] | ||||
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 3,954 | |||
Residential Real Estate Included in OREO [Member] | ||||
Note 3 - Loans and Allowance for Credit Losses (Details) [Line Items] | ||||
Real Estate Acquired Through Foreclosure | $ 0 | $ 0 |
Note 3 - Loans and Allowance 53
Note 3 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 3 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | $ 1,351,839 | $ 1,470,369 |
Purchased covered loans: | ||
Gross purchased covered loans | 14,213 | 17,546 |
Purchased loan discount | (152) | (468) |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 173,928 | 222,215 |
Purchased loan discount | (6,432) | (9,372) |
Total | 1,533,396 | 1,700,290 |
Commercial Portfolio Segment [Member] | ||
Note 3 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 368,117 | 374,005 |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 15,620 | 19,166 |
Purchased loan discount | (989) | (1,356) |
Total | 382,748 | 391,815 |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 3 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 517,070 | 567,594 |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 124,650 | 157,502 |
Purchased loan discount | (4,264) | (6,492) |
Total | 637,456 | 718,604 |
Construction Portfolio Segment [Member] | ||
Note 3 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 2,978 | 11,003 |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 973 | 2,919 |
Purchased loan discount | (50) | |
Total | 3,951 | 13,872 |
Residential Portfolio Segment [Member] | ||
Note 3 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 117,631 | 146,925 |
Purchased covered loans: | ||
Gross purchased covered loans | 2,385 | 2,626 |
Purchased loan discount | (133) | (434) |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 231 | 972 |
Purchased loan discount | (23) | (262) |
Total | 120,091 | 149,827 |
Consumer Portfolio Segment [Member] | ||
Note 3 - Loans and Allowance for Credit Losses (Details) - Loans Receivable at Carrying Amount [Line Items] | ||
Originated loans | 346,043 | 370,842 |
Purchased covered loans: | ||
Gross purchased covered loans | 11,828 | 14,920 |
Purchased loan discount | (19) | (34) |
Purchased non-covered loans: | ||
Gross purchased non-covered loans | 32,454 | 41,656 |
Purchased loan discount | (1,156) | (1,212) |
Total | $ 389,150 | $ 426,172 |
Note 3 - Loans and Allowance 54
Note 3 - Loans and Allowance for Credit Losses (Details) - Changes in the Carrying Amount of Impaired Purchased Loans - Receivables Acquired with Deteriorated Credit Quality [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 3 - Loans and Allowance for Credit Losses (Details) - Changes in the Carrying Amount of Impaired Purchased Loans [Line Items] | ||
Carrying amount at the beginning of the period | $ 4,672 | $ 4,936 |
Reductions during the period | (785) | (264) |
Carrying amount at the end of the period | $ 3,887 | $ 4,672 |
Note 3 - Loans and Allowance 55
Note 3 - Loans and Allowance for Credit Losses (Details) - Changes in the Accretable Yield for Purchased Loans - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Changes in the Accretable Yield for Purchased Loans [Abstract] | ||
Balance at the beginning of the period | $ 2,261 | $ 2,505 |
Reclassification from nonaccretable difference | 3,051 | 5,016 |
Accretion | (4,053) | (5,260) |
Change in FDIC indemnification | 698 | 1,110 |
(Increase) in interest income | (3,355) | (4,150) |
Balance at the end of the period | $ 1,259 | $ 2,261 |
Note 3 - Loans and Allowance 56
Note 3 - Loans and Allowance for Credit Losses (Details) - Allowance for Credit Losses - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2015 | |
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | $ 31,693 | $ 30,234 | $ 31,485 | $ 31,693 | $ 30,234 | |||||||
Additions: | ||||||||||||
Provision | $ 200 | $ 600 | $ 1,000 | 1,000 | $ 1,600 | $ 1,800 | $ 1,800 | 2,800 | 0 | 2,800 | 8,000 | |
Deductions: | ||||||||||||
Chargeoffs | (5,129) | (7,418) | (10,731) | |||||||||
Recoveries | 3,415 | 4,410 | 4,190 | |||||||||
Net loan recoveries (losses) | (1,714) | (3,008) | (6,541) | |||||||||
Indemnification expiration | 0 | |||||||||||
Balance at end of period | 31,485 | 31,693 | 31,693 | 30,234 | 31,485 | 31,693 | 30,234 | $ 29,771 | ||||
Liability for off-balance sheet credit exposure | 2,693 | 2,693 | ||||||||||
Total allowance for loan losses | 34,178 | 34,386 | 29,771 | 34,178 | 34,386 | |||||||
Originated Loans [Member] | Commercial Portfolio Segment [Member] | ||||||||||||
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | 4,005 | 6,445 | 5,460 | 4,005 | 6,445 | |||||||
Additions: | ||||||||||||
Provision | 3,702 | 1,095 | (1,158) | |||||||||
Deductions: | ||||||||||||
Chargeoffs | (756) | (1,890) | (2,857) | |||||||||
Recoveries | 1,153 | 2,250 | 1,575 | |||||||||
Net loan recoveries (losses) | 397 | 360 | (1,282) | |||||||||
Indemnification expiration | 0 | |||||||||||
Balance at end of period | 5,460 | 4,005 | 4,005 | 6,445 | 5,460 | 4,005 | 6,445 | |||||
Liability for off-balance sheet credit exposure | 2,408 | 1,658 | ||||||||||
Total allowance for loan losses | 7,868 | 5,663 | 9,559 | 7,868 | 5,663 | |||||||
Originated Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||||
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | 12,070 | 10,063 | 4,245 | 12,070 | 10,063 | |||||||
Additions: | ||||||||||||
Provision | 356 | (7,276) | 2,813 | |||||||||
Deductions: | ||||||||||||
Chargeoffs | (449) | (762) | (997) | |||||||||
Recoveries | 72 | 213 | 191 | |||||||||
Net loan recoveries (losses) | (377) | (549) | (806) | |||||||||
Indemnification expiration | 0 | |||||||||||
Balance at end of period | 4,245 | 12,070 | 12,070 | 10,063 | 4,245 | 12,070 | 10,063 | |||||
Liability for off-balance sheet credit exposure | 0 | 0 | ||||||||||
Total allowance for loan losses | 4,245 | 12,070 | 4,224 | 4,245 | 12,070 | |||||||
Originated Loans [Member] | Construction Portfolio Segment [Member] | ||||||||||||
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | 602 | 484 | 644 | 602 | 484 | |||||||
Additions: | ||||||||||||
Provision | (512) | 39 | 118 | |||||||||
Deductions: | ||||||||||||
Chargeoffs | 0 | 0 | 0 | |||||||||
Recoveries | 45 | 3 | 0 | |||||||||
Net loan recoveries (losses) | 45 | 3 | 0 | |||||||||
Indemnification expiration | 0 | |||||||||||
Balance at end of period | 644 | 602 | 602 | 484 | 644 | 602 | 484 | |||||
Liability for off-balance sheet credit exposure | 344 | 37 | ||||||||||
Total allowance for loan losses | 988 | 639 | 177 | 988 | 639 | |||||||
Originated Loans [Member] | Residential Portfolio Segment [Member] | ||||||||||||
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | 405 | 380 | 2,241 | 405 | 380 | |||||||
Additions: | ||||||||||||
Provision | (440) | 1,866 | 134 | |||||||||
Deductions: | ||||||||||||
Chargeoffs | 0 | (30) | (109) | |||||||||
Recoveries | 0 | 0 | 0 | |||||||||
Net loan recoveries (losses) | 0 | (30) | (109) | |||||||||
Indemnification expiration | 0 | |||||||||||
Balance at end of period | 2,241 | 405 | 405 | 380 | 2,241 | 405 | 380 | |||||
Liability for off-balance sheet credit exposure | 0 | 0 | ||||||||||
Total allowance for loan losses | 2,241 | 405 | 1,801 | 2,241 | 405 | |||||||
Originated Loans [Member] | Consumer Portfolio Segment [Member] | ||||||||||||
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | 3,198 | 3,194 | 7,717 | 3,198 | 3,194 | |||||||
Additions: | ||||||||||||
Provision | 950 | 6,864 | 1,949 | |||||||||
Deductions: | ||||||||||||
Chargeoffs | (3,493) | (4,214) | (4,097) | |||||||||
Recoveries | 1,906 | 1,869 | 2,152 | |||||||||
Net loan recoveries (losses) | (1,587) | (2,345) | (1,945) | |||||||||
Indemnification expiration | 0 | |||||||||||
Balance at end of period | 7,717 | 3,198 | 3,198 | 3,194 | 7,717 | 3,198 | 3,194 | |||||
Liability for off-balance sheet credit exposure | 437 | 497 | ||||||||||
Total allowance for loan losses | 8,154 | 3,695 | 7,080 | 8,154 | 3,695 | |||||||
Purchased Non-Covered Loans [Member] | ||||||||||||
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | 0 | 0 | 2,120 | 0 | 0 | |||||||
Additions: | ||||||||||||
Provision | (961) | 1,006 | 385 | |||||||||
Deductions: | ||||||||||||
Chargeoffs | (431) | (522) | (385) | |||||||||
Recoveries | 239 | 75 | 0 | |||||||||
Net loan recoveries (losses) | (192) | (447) | (385) | |||||||||
Indemnification expiration | 1,561 | |||||||||||
Balance at end of period | 2,120 | 0 | 0 | 0 | 2,120 | 0 | 0 | |||||
Liability for off-balance sheet credit exposure | 0 | 0 | ||||||||||
Total allowance for loan losses | 2,120 | 0 | 967 | 2,120 | 0 | |||||||
Purchased Covered Loans [Member] | ||||||||||||
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | 1,561 | 1,005 | 0 | 1,561 | 1,005 | |||||||
Additions: | ||||||||||||
Provision | 0 | 0 | 2,570 | |||||||||
Deductions: | ||||||||||||
Chargeoffs | 0 | 0 | (2,286) | |||||||||
Recoveries | 0 | 0 | 272 | |||||||||
Net loan recoveries (losses) | 0 | 0 | (2,014) | |||||||||
Indemnification expiration | (1,561) | |||||||||||
Balance at end of period | 0 | 1,561 | 1,561 | 1,005 | 0 | 1,561 | 1,005 | |||||
Liability for off-balance sheet credit exposure | 0 | 0 | ||||||||||
Total allowance for loan losses | 0 | 1,561 | 0 | 0 | 1,561 | |||||||
Unallocated Financing Receivable [Member] | ||||||||||||
Allowance for loan losses: | ||||||||||||
Balance at beginning of period | 9,852 | 8,663 | 9,058 | 9,852 | 8,663 | |||||||
Additions: | ||||||||||||
Provision | (3,095) | (794) | 1,189 | |||||||||
Deductions: | ||||||||||||
Chargeoffs | 0 | 0 | 0 | |||||||||
Recoveries | 0 | 0 | 0 | |||||||||
Net loan recoveries (losses) | 0 | 0 | 0 | |||||||||
Indemnification expiration | 0 | |||||||||||
Balance at end of period | 9,058 | $ 9,852 | 9,852 | $ 8,663 | 9,058 | 9,852 | 8,663 | |||||
Liability for off-balance sheet credit exposure | (496) | 501 | ||||||||||
Total allowance for loan losses | $ 8,562 | $ 10,353 | $ 5,963 | $ 8,562 | $ 10,353 |
Note 3 - Loans and Allowance 57
Note 3 - Loans and Allowance for Credit Losses (Details) - Recorded Investment in Loans Evaluated for Impairment - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Allowance for loan losses: | ||||
Individually evaluated for impairment | $ 5,527 | $ 496 | ||
Collectively evaluated for impairment | 24,244 | 33,682 | ||
Total | 29,771 | 34,178 | $ 34,386 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 29,905 | 28,318 | ||
Collectively evaluated for impairment | 1,499,604 | 1,667,300 | ||
Total | 1,533,396 | 1,700,290 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 3,887 | 4,672 | ||
Originated Loans [Member] | ||||
Carrying value of loans: | ||||
Total | 1,351,839 | 1,470,369 | ||
Purchased Non-Covered Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 967 | 2,120 | ||
Total | 967 | 2,120 | 0 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 11,777 | 12,364 | ||
Collectively evaluated for impairment | 152,038 | 196,034 | ||
Total | 167,496 | 212,843 | ||
Purchased Non-Covered Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 3,681 | 4,445 | ||
Purchased Covered Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 0 | 0 | ||
Total | 0 | 0 | 1,561 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 13,855 | 16,851 | ||
Total | [1] | 14,061 | 17,078 | |
Purchased Covered Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 206 | 227 | ||
Unallocated Financing Receivable [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 5,963 | 8,562 | ||
Total | 5,963 | 8,562 | 10,353 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 0 | 0 | ||
Total | 0 | 0 | ||
Unallocated Financing Receivable [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Commercial Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 382,748 | 391,815 | ||
Commercial Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 4,942 | 496 | ||
Collectively evaluated for impairment | 4,617 | 7,372 | ||
Total | 9,559 | 7,868 | 5,663 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 12,587 | 11,811 | ||
Collectively evaluated for impairment | 355,530 | 362,194 | ||
Total | 368,117 | 374,005 | ||
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 637,456 | 718,604 | ||
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 585 | 0 | ||
Collectively evaluated for impairment | 3,639 | 4,245 | ||
Total | 4,224 | 4,245 | 12,070 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 5,541 | 2,970 | ||
Collectively evaluated for impairment | 511,529 | 564,624 | ||
Total | 517,070 | 567,594 | ||
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Construction Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 3,951 | 13,872 | ||
Construction Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 177 | 988 | ||
Total | 177 | 988 | 639 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 2,978 | 11,003 | ||
Total | 2,978 | 11,003 | ||
Construction Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Residential Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 120,091 | 149,827 | ||
Residential Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 1,801 | 2,241 | ||
Total | 1,801 | 2,241 | 405 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 574 | ||
Collectively evaluated for impairment | 117,631 | 146,351 | ||
Total | 117,631 | 146,925 | ||
Residential Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | 0 | 0 | ||
Consumer Portfolio Segment [Member] | ||||
Carrying value of loans: | ||||
Total | 389,150 | 426,172 | ||
Consumer Portfolio Segment [Member] | Originated Loans [Member] | ||||
Allowance for loan losses: | ||||
Individually evaluated for impairment | 0 | 0 | ||
Collectively evaluated for impairment | 7,080 | 8,154 | ||
Total | 7,080 | 8,154 | $ 3,695 | |
Carrying value of loans: | ||||
Individually evaluated for impairment | 0 | 599 | ||
Collectively evaluated for impairment | 346,043 | 370,243 | ||
Total | 346,043 | 370,842 | ||
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance for loan losses: | ||||
Total | 0 | 0 | ||
Carrying value of loans: | ||||
Total | $ 0 | $ 0 | ||
[1] | Credit risk profile reflects internally assigned grade of purchased covered loans without regard to FDIC indemnification. |
Note 3 - Loans and Allowance 58
Note 3 - Loans and Allowance for Credit Losses (Details) - Credit Risk Profile by Internally Assigned Grade - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Grade: | |||
Loans | $ 1,533,396 | $ 1,700,290 | |
Pass [Member] | |||
Grade: | |||
Loans | 1,474,260 | 1,618,143 | |
Substandard [Member] | |||
Grade: | |||
Loans | 65,316 | 91,387 | |
Doubtful [Member] | |||
Grade: | |||
Loans | 30 | 101 | |
Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans | 374 | 499 | |
Purchased Loan Discount [Member] | |||
Grade: | |||
Loans | (6,584) | (9,840) | |
Originated Loans [Member] | |||
Grade: | |||
Loans | 1,351,839 | 1,470,369 | |
Purchased Non-Covered Loans [Member] | |||
Grade: | |||
Loans | 167,496 | 212,843 | |
Purchased Non-Covered Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans | 149,100 | 182,644 | |
Purchased Non-Covered Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans | 24,810 | 39,473 | |
Purchased Non-Covered Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans | 18 | 77 | |
Purchased Non-Covered Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans | 0 | 21 | |
Purchased Non-Covered Loans [Member] | Purchased Loan Discount [Member] | |||
Grade: | |||
Loans | (6,432) | (9,372) | |
Purchased Covered Loans [Member] | |||
Grade: | |||
Loans | [1] | 14,061 | 17,078 |
Purchased Covered Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans | [1] | 12,563 | 15,509 |
Purchased Covered Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans | [1] | 1,650 | 2,037 |
Purchased Covered Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans | [1] | 0 | 0 |
Purchased Covered Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans | [1] | 0 | 0 |
Purchased Covered Loans [Member] | Purchased Loan Discount [Member] | |||
Grade: | |||
Loans | [1] | (152) | (468) |
Commercial Portfolio Segment [Member] | |||
Grade: | |||
Loans | 382,748 | 391,815 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans | 368,117 | 374,005 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans | 353,474 | 366,487 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans | 14,643 | 7,506 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans | 0 | 12 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Purchased Loan Discount [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Grade: | |||
Loans | 637,456 | 718,604 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans | 517,070 | 567,594 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans | 496,744 | 527,980 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans | 20,326 | 39,614 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Purchased Loan Discount [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Construction Portfolio Segment [Member] | |||
Grade: | |||
Loans | 3,951 | 13,872 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans | 2,978 | 11,003 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans | 2,978 | 11,003 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Purchased Loan Discount [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Grade: | |||
Loans | 120,091 | 149,827 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans | 117,631 | 146,925 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans | 114,525 | 144,902 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans | 3,106 | 2,023 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Purchased Loan Discount [Member] | |||
Grade: | |||
Loans | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Grade: | |||
Loans | 389,150 | 426,172 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Grade: | |||
Loans | 346,043 | 370,842 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Pass [Member] | |||
Grade: | |||
Loans | 344,876 | 369,618 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Substandard [Member] | |||
Grade: | |||
Loans | 781 | 734 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Doubtful [Member] | |||
Grade: | |||
Loans | 12 | 12 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Unlikely to be Collected Financing Receivable [Member] | |||
Grade: | |||
Loans | $ 374 | 478 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Purchased Loan Discount [Member] | |||
Grade: | |||
Loans | $ 0 | ||
[1] | Credit risk profile reflects internally assigned grade of purchased covered loans without regard to FDIC indemnification. |
Note 3 - Loans and Allowance 59
Note 3 - Loans and Allowance for Credit Losses (Details) - Loans by Delinquency and Nonaccrual Status - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | $ 1,503,022 | $ 1,662,592 | |
Nonaccrual | 14,998 | 17,604 | |
Loans | 1,533,396 | 1,700,290 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 12,893 | 17,620 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 2,188 | 1,972 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 295 | 502 | |
Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 1,330,539 | 1,450,053 | |
Nonaccrual | 6,652 | 5,309 | |
Loans | 1,351,839 | 1,470,369 | |
Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 12,172 | 13,027 | |
Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 2,181 | 1,478 | |
Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 295 | 502 | |
Purchased Non-Covered Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 158,554 | 196,150 | |
Nonaccrual | 8,346 | 11,998 | |
Loans | 167,496 | 212,843 | |
Purchased Non-Covered Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 589 | 4,204 | |
Purchased Non-Covered Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 7 | 491 | |
Purchased Non-Covered Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Purchased Covered Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 13,929 | 16,389 | |
Nonaccrual | 0 | 297 | |
Loans | [1] | 14,061 | 17,078 |
Purchased Covered Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 132 | 389 | |
Purchased Covered Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 3 | |
Purchased Covered Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans | 382,748 | 391,815 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 365,450 | 372,235 | |
Nonaccrual | 768 | 30 | |
Loans | 368,117 | 374,005 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,777 | 1,704 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 122 | 36 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans | 637,456 | 718,604 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 504,970 | 557,041 | |
Nonaccrual | 5,444 | 4,053 | |
Loans | 517,070 | 567,594 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 5,930 | 6,500 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 726 | 0 | |
Commercial Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Construction Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans | 3,951 | 13,872 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 2,978 | 11,003 | |
Nonaccrual | 0 | 0 | |
Loans | 2,978 | 11,003 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Construction Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans | 120,091 | 149,827 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 115,575 | 144,021 | |
Nonaccrual | 440 | 574 | |
Loans | 117,631 | 146,925 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,202 | 1,513 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 414 | 817 | |
Residential Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans | 389,150 | 426,172 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current and Accruing | 341,566 | 365,753 | |
Nonaccrual | 0 | 652 | |
Loans | 346,043 | 370,842 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 3,263 | 3,310 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 919 | 625 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | $ 295 | $ 502 | |
[1] | Credit risk profile reflects internally assigned grade of purchased covered loans without regard to FDIC indemnification. |
Note 3 - Loans and Allowance 60
Note 3 - Loans and Allowance for Credit Losses (Details) - Effect of Nonaccrual Loans on Interest Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Effect of Nonaccrual Loans on Interest Income [Abstract] | |||
Interest income that would have been recognized had the loans performed in accordance with their original terms | $ 1,277 | $ 1,146 | $ 1,866 |
Interest income recognized on nonaccrual loans | (362) | (60) | (402) |
Total reduction of interest income | $ 915 | $ 1,086 | $ 1,464 |
Note 3 - Loans and Allowance 61
Note 3 - Loans and Allowance for Credit Losses (Details) - Impaired Loans - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Commercial Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | $ 2,917 | $ 2,031 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 2,979 | 2,095 |
Impaired loans with an allowance recorded: | ||
Impaired loans with an allowance recorded, Recorded Investment | 10,170 | 9,910 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 10,170 | 9,910 |
Impaired loans with an allowance recorded, Related Allowance | 4,942 | 496 |
Total: | ||
Total Impaired loans, Recorded Investment | 13,087 | 11,941 |
Total Impaired loans, Unpaid Principal Balance | 13,149 | 12,005 |
Total Impaired loans, Related Allowance | 4,942 | 496 |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | 16,309 | 19,478 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 21,168 | 25,519 |
Impaired loans with an allowance recorded: | ||
Impaired loans with an allowance recorded, Recorded Investment | 4,660 | 0 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 5,109 | 0 |
Impaired loans with an allowance recorded, Related Allowance | 585 | 0 |
Total: | ||
Total Impaired loans, Recorded Investment | 20,969 | 19,478 |
Total Impaired loans, Unpaid Principal Balance | 26,277 | 25,519 |
Total Impaired loans, Related Allowance | 585 | 0 |
Construction Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | 271 | 1,834 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 271 | 1,884 |
Impaired loans with an allowance recorded: | ||
Impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Impaired loans with an allowance recorded, Related Allowance | 0 | 0 |
Total: | ||
Total Impaired loans, Recorded Investment | 271 | 1,834 |
Total Impaired loans, Unpaid Principal Balance | 271 | 1,884 |
Total Impaired loans, Related Allowance | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | 666 | 574 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 697 | 574 |
Impaired loans with an allowance recorded: | ||
Impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Impaired loans with an allowance recorded, Related Allowance | 0 | 0 |
Total: | ||
Total Impaired loans, Recorded Investment | 666 | 574 |
Total Impaired loans, Unpaid Principal Balance | 697 | 574 |
Total Impaired loans, Related Allowance | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded: | ||
Impaired loans with no related allowance recorded, Recorded Investment | 350 | 1,518 |
Impaired loans with no related allowance recorded, Unpaid Principal Balance | 456 | 1,628 |
Impaired loans with an allowance recorded: | ||
Impaired loans with an allowance recorded, Recorded Investment | 0 | 0 |
Impaired loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 |
Impaired loans with an allowance recorded, Related Allowance | 0 | 0 |
Total: | ||
Total Impaired loans, Recorded Investment | 350 | 1,518 |
Total Impaired loans, Unpaid Principal Balance | 456 | 1,628 |
Total Impaired loans, Related Allowance | $ 0 | $ 0 |
Note 3 - Loans and Allowance 62
Note 3 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 3 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | |||
Average Recored Investment | $ 34,583 | $ 28,687 | $ 41,983 |
Recognized Interest Income | 1,314 | 823 | 1,103 |
Commercial Portfolio Segment [Member] | |||
Note 3 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | |||
Average Recored Investment | 12,631 | 5,240 | 10,566 |
Recognized Interest Income | 584 | 325 | 222 |
Commercial Real Estate Portfolio Segment [Member] | |||
Note 3 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | |||
Average Recored Investment | 20,307 | 19,880 | 27,186 |
Recognized Interest Income | 674 | 469 | 763 |
Construction Portfolio Segment [Member] | |||
Note 3 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | |||
Average Recored Investment | 263 | 2,015 | 2,400 |
Recognized Interest Income | 0 | 0 | 80 |
Residential Portfolio Segment [Member] | |||
Note 3 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | |||
Average Recored Investment | 643 | 153 | 362 |
Recognized Interest Income | 31 | 0 | 0 |
Consumer Portfolio Segment [Member] | |||
Note 3 - Loans and Allowance for Credit Losses (Details) - Impaired Loans, Supplemental Schedule [Line Items] | |||
Average Recored Investment | 739 | 1,399 | 1,469 |
Recognized Interest Income | $ 25 | $ 29 | $ 38 |
Note 3 - Loans and Allowance 63
Note 3 - Loans and Allowance for Credit Losses (Details) - Troubled Debt Restructurings $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 17 | 8 | 6 |
Pre-Modification Carrying Value | $ 16,307 | $ 4,983 | $ 5,718 |
Period-End Carrying Value | 15,712 | $ 4,837 | $ 5,453 |
Period-End Individual Impairment Allowance | $ 194 | ||
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 6 | 3 | 4 |
Pre-Modification Carrying Value | $ 3,138 | $ 2,075 | $ 3,427 |
Period-End Carrying Value | 2,802 | $ 1,901 | $ 3,164 |
Period-End Individual Impairment Allowance | $ 194 | ||
Commercial Real Estate Portfolio Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 10 | 4 | 2 |
Pre-Modification Carrying Value | $ 12,927 | $ 2,890 | $ 2,291 |
Period-End Carrying Value | $ 12,684 | $ 2,928 | $ 2,289 |
Residential Portfolio Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 1 | ||
Pre-Modification Carrying Value | $ 242 | ||
Period-End Carrying Value | $ 226 | ||
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Number of Contracts | 1 | ||
Pre-Modification Carrying Value | $ 18 | ||
Period-End Carrying Value | $ 8 |
Note 4 - Concentration of Cre64
Note 4 - Concentration of Credit Risk (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 4 - Concentration of Credit Risk (Details) [Line Items] | ||
Unsecured Loan Limit, Percentage of Shareholders' Equity, California Financial Code | 15.00% | |
Secured and Unsecured Loan Limit Percentage, California Financial Code | 25.00% | |
Concentration Risk, Issuer Relationships | 47 | |
Concentration Risk, Aggregate Securities Amount (in Dollars) | $ 5,000 | |
Loan Commitments and Standby Letters of Credit Related to Real Estate Loans (in Dollars) | $ 61,190 | $ 66,086 |
Commercial Real Estate Loans [Member] | ||
Note 4 - Concentration of Credit Risk (Details) [Line Items] | ||
Loan To Value Ratio Requirement | 75.00% | |
Residential Real Estate Loans [Member] | ||
Note 4 - Concentration of Credit Risk (Details) [Line Items] | ||
Loan To Value Ratio Requirement | 80.00% | |
Aggregate Loans [Member] | Customer Concentration Risk [Member] | ||
Note 4 - Concentration of Credit Risk (Details) [Line Items] | ||
Concentration Risk, Issuer Relationships | 38 | |
Concentration Risk, Aggregate Securities Amount (in Dollars) | $ 5,000 |
Note 5 - Premises, Equipment 65
Note 5 - Premises, Equipment and Other Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 5 - Premises, Equipment and Other Assets (Details) [Line Items] | |||
Depreciation, Depletion and Amortization, Nonproduction | $ 3,523 | $ 3,177 | $ 3,001 |
FRB Membership, Stock Subscription, Percent of Paid-Up Capital Stock and Surplus Requirement | 6.00% | ||
LIHTC Investments | $ 15,259 | 18,673 | |
Qualified Affordable Housing Project Investments, Commitment | 2,299 | $ 2,460 | |
Contingent Commitment, Year 1 [Member] | |||
Note 5 - Premises, Equipment and Other Assets (Details) [Line Items] | |||
Qualified Affordable Housing Project Investments, Commitment | 453 | ||
Contingent Commitment, Year 2 [Member] | |||
Note 5 - Premises, Equipment and Other Assets (Details) [Line Items] | |||
Qualified Affordable Housing Project Investments, Commitment | 763 | ||
Contingent Commitment, Year 3 [Member] | |||
Note 5 - Premises, Equipment and Other Assets (Details) [Line Items] | |||
Qualified Affordable Housing Project Investments, Commitment | $ 1,083 |
Note 5 - Premises, Equipment 66
Note 5 - Premises, Equipment and Other Assets (Details) - Premises and Equipment - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
2,015 | ||
Cost | $ 82,653 | $ 80,052 |
Accumulated depreciation and amortization | (43,960) | (42,200) |
Net book value | 38,693 | 37,852 |
Land [Member] | ||
2,015 | ||
Cost | 11,896 | 11,933 |
Net book value | 11,896 | 11,933 |
Building and Building Improvements [Member] | ||
2,015 | ||
Cost | 40,795 | 40,939 |
Accumulated depreciation and amortization | (24,024) | (23,267) |
Net book value | 16,771 | 17,672 |
Leasehold Improvements [Member] | ||
2,015 | ||
Cost | 5,696 | 5,742 |
Accumulated depreciation and amortization | (4,628) | (4,664) |
Net book value | 1,068 | 1,078 |
Furniture and Fixtures [Member] | ||
2,015 | ||
Cost | 24,266 | 21,438 |
Accumulated depreciation and amortization | (15,308) | (14,269) |
Net book value | $ 8,958 | $ 7,169 |
Note 5 - Premises, Equipment 67
Note 5 - Premises, Equipment and Other Assets (Details) - Other Assets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Cost method equity investments: | |||
Federal Reserve Bank stock (1) | [1] | $ 14,069 | $ 14,069 |
Federal Home Loan Bank stock (2) | [2] | 0 | 940 |
Other investments | 201 | 241 | |
Total cost method equity investments | 14,270 | 15,250 | |
Life insurance cash surrender value | 48,972 | 46,479 | |
Net deferred tax asset | 51,748 | 50,903 | |
Limited partnership investments | 15,259 | 18,673 | |
Interest receivable | 20,174 | 19,394 | |
Prepaid assets | 4,771 | 5,609 | |
Other assets | 10,660 | 10,150 | |
Total other assets | $ 165,854 | $ 166,458 | |
[1] | A bank applying for membership in the Federal Reserve System is required to subscribe to stock in the Federal Reserve Bank (FRB) in its district in a sumequal to six percent of the bank's paid-up capital stock and surplus. One-half of the amount of the bank's subscription shall be paid to the FRB and the remaininghalf will be subject to call when deemed necessary by the Board of Governors of the Federal Reserve System. | ||
[2] | Borrowings from the FHLB must be supported by capital stock holdings. The requirement may be adjusted from time to time by the FHLB within limitsestablished in the FHLB's Capital Plan. The Company repaid the FHLB advances in full upon their maturity in January 2015 eliminating the requirement for FHLBcapital stock holdings. |
Note 5 - Premises, Equipment 68
Note 5 - Premises, Equipment and Other Assets (Details) - Amounts Recognized in Net Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Amounts Recognized in Net Income [Abstract] | |||
Investment loss included in pre-tax income | $ 2,850 | $ 2,950 | $ 3,450 |
Tax credits recognized in provision for income taxes | $ 2,650 | $ 2,825 | $ 3,425 |
Note 6 - Goodwill and Identif69
Note 6 - Goodwill and Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Goodwill and Intangible Asset Impairment | $ 0 | $ 0 |
Note 6 - Goodwill and Identif70
Note 6 - Goodwill and Identifiable Intangible Assets (Details) - Carrying Values of Goodwill - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Carrying Values of Goodwill [Abstract] | ||
Goodwill | $ 121,673 | $ 121,673 |
Note 6 - Goodwill and Identif71
Note 6 - Goodwill and Identifiable Intangible Assets (Details) - Gross Carrying Amount of Intangible Assets and Accumulated Amortization - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 67,108 | $ 67,108 |
Accumulated Amortization | (56,677) | (52,821) |
Core Deposits [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 56,808 | 56,808 |
Accumulated Amortization | (46,782) | (43,188) |
Mechant Draft Processing [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 10,300 | 10,300 |
Accumulated Amortization | $ (9,895) | $ (9,633) |
Note 6 - Goodwill and Identif72
Note 6 - Goodwill and Identifiable Intangible Assets (Details) - Estimated Future Amortization Expense for Identifiable Intangible Assets - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 6 - Goodwill and Identifiable Intangible Assets (Details) - Estimated Future Amortization Expense for Identifiable Intangible Assets [Line Items] | |||
For the Year ended December 31, 2015 (actual) | $ 3,856 | $ 4,270 | $ 4,704 |
Estimate for year ended December 31, 2016 | 3,504 | ||
2,017 | 3,077 | ||
2,018 | 1,921 | ||
2,019 | 538 | ||
2,020 | 287 | ||
Core Deposits [Member] | |||
Note 6 - Goodwill and Identifiable Intangible Assets (Details) - Estimated Future Amortization Expense for Identifiable Intangible Assets [Line Items] | |||
For the Year ended December 31, 2015 (actual) | 3,594 | ||
Estimate for year ended December 31, 2016 | 3,292 | ||
2,017 | 2,913 | ||
2,018 | 1,892 | ||
2,019 | 538 | ||
2,020 | 287 | ||
Mechant Draft Processing [Member] | |||
Note 6 - Goodwill and Identifiable Intangible Assets (Details) - Estimated Future Amortization Expense for Identifiable Intangible Assets [Line Items] | |||
For the Year ended December 31, 2015 (actual) | 262 | ||
Estimate for year ended December 31, 2016 | 212 | ||
2,017 | 164 | ||
2,018 | 29 | ||
2,019 | 0 | ||
2,020 | $ 0 |
Note 7 - Deposits and Borrowe73
Note 7 - Deposits and Borrowed Funds (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 7 - Deposits and Borrowed Funds (Details) [Line Items] | |||
Demand Deposit Overdrafts | $ 3,038 | $ 3,173 | |
Interest Expense, Time Deposits, $100,000 or More | 687 | 893 | $ 1,096 |
Long-term Federal Home Loan Bank Advances | 20,015 | ||
Long-term Line of Credit | 0 | 0 | |
Residential Real Estate Loans and Securities [Member] | |||
Note 7 - Deposits and Borrowed Funds (Details) [Line Items] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 26,484 | ||
Unsecured Line of Credit [Member] | |||
Note 7 - Deposits and Borrowed Funds (Details) [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.25% |
Note 7 - Deposits and Borrowe74
Note 7 - Deposits and Borrowed Funds (Details) - Deposits Detail - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deposits Detail [Abstract] | ||
Noninterest-bearing | $ 2,026,049 | $ 1,910,781 |
Interest-bearing: | ||
Transaction | 860,706 | 792,448 |
Savings | 1,366,936 | 1,260,819 |
Time deposits less than $100 thousand | 150,780 | 169,959 |
Time deposits $100 thousand through $250 thousand | 96,971 | 113,023 |
Time deposits more than $250 thousand | 39,217 | 102,161 |
Total deposits | $ 4,540,659 | $ 4,349,191 |
Note 7 - Deposits and Borrowe75
Note 7 - Deposits and Borrowed Funds (Details) - Short Term Borrowed Funds - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Collateral securing borrowings: | ||
Collateral Carrying Value | $ 157,625 | $ 148,014 |
Total short-term borrowed funds | 53,028 | 89,784 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Collateral securing borrowings: | ||
Collateral Carrying Value | 98,969 | 80,827 |
US States and Political Subdivisions Debt Securities [Member] | ||
Collateral securing borrowings: | ||
Collateral Carrying Value | 3,975 | 14,251 |
Corporate Debt Securities [Member] | ||
Collateral securing borrowings: | ||
Collateral Carrying Value | $ 54,681 | $ 52,936 |
Note 7 - Deposits and Borrowe76
Note 7 - Deposits and Borrowed Funds (Details) - Deposits and Borrowed Funds - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Time Deposits Over 100 Thousand [Member] | ||
Note 7 - Deposits and Borrowed Funds (Details) - Deposits and Borrowed Funds [Line Items] | ||
Balance | $ 136,188 | $ 215,184 |
Average balance | $ 161,710 | $ 237,002 |
Weighted average rate | 0.42% | 0.38% |
Securities Sold under Agreements to Repurchase [Member] | ||
Note 7 - Deposits and Borrowed Funds (Details) - Deposits and Borrowed Funds [Line Items] | ||
Balance | $ 53,028 | $ 89,784 |
Average balance | $ 75,046 | $ 70,244 |
Weighted average rate | 0.07% | 0.07% |
Federal Home Loan Bank Advances [Member] | ||
Note 7 - Deposits and Borrowed Funds (Details) - Deposits and Borrowed Funds [Line Items] | ||
Balance | $ 20,015 | |
Average balance | $ 494 | $ 20,308 |
Weighted average rate | 0.20% | 2.00% |
Term Repurchase Agreements [Member] | ||
Note 7 - Deposits and Borrowed Funds (Details) - Deposits and Borrowed Funds [Line Items] | ||
Average balance | $ 6,082 | |
Weighted average rate | 0.99% | |
Federal Funds Purchased [Member] | ||
Note 7 - Deposits and Borrowed Funds (Details) - Deposits and Borrowed Funds [Line Items] | ||
Average balance | $ 8 | $ 8 |
Weighted average rate | 0.48% | 0.48% |
Note 7 - Deposits and Borrowe77
Note 7 - Deposits and Borrowed Funds (Details) - Borrowed Funds, Highest Month End Balances - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Securities Sold under Agreements to Repurchase [Member] | ||
Note 7 - Deposits and Borrowed Funds (Details) - Borrowed Funds, Highest Month End Balances [Line Items] | ||
Highest balance at any month-end | $ 89,484 | $ 89,784 |
Federal Home Loan Bank Advances [Member] | ||
Note 7 - Deposits and Borrowed Funds (Details) - Borrowed Funds, Highest Month End Balances [Line Items] | ||
Highest balance at any month-end | 20,530 | |
Term Repurchase Agreements [Member] | ||
Note 7 - Deposits and Borrowed Funds (Details) - Borrowed Funds, Highest Month End Balances [Line Items] | ||
Highest balance at any month-end | $ 10,000 |
Note 8 - Shareholders' Equity78
Note 8 - Shareholders' Equity (Details) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | Dec. 31, 2013USD ($)$ / sharesshares | Feb. 13, 2009$ / sharesshares | |
Note 8 - Shareholders' Equity (Details) [Line Items] | ||||
Share Price (in Dollars per share) | $ / shares | $ 46.75 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 343,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ / shares | $ 5.46 | $ 5.91 | $ 4.61 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | $ 1,422 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | 504 | $ 1,309 | $ 2,058 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ | $ 1,321 | $ 1,397 | 1,514 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 21,000 | 17,000 | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 246,640 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 50.92 | |||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in Shares) | 1,727,000 | |||
Additional Classes of Stock Authorized | 2 | |||
Additional Classes of Stock Authorized Shares Authorized per Class (in Shares) | 1,000,000 | |||
Common Stock, Shares Authorized (in Shares) | 150,000,000 | 150,000,000 | ||
Common Stock, Shares, Outstanding (in Shares) | 25,528,000 | 25,745,000 | ||
Preferred Stock, Shares Outstanding (in Shares) | 0 | |||
Common Class B [Member] | ||||
Note 8 - Shareholders' Equity (Details) [Line Items] | ||||
Common Stock, Shares, Outstanding (in Shares) | 0 | |||
NQSO [Member] | ||||
Note 8 - Shareholders' Equity (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Restricted Performance Shares [Member] | ||||
Note 8 - Shareholders' Equity (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ | $ 741 | $ 1,115 | 678 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 1 year 109 days | 1 year 73 days | ||
Allocated Share-based Compensation Expense | $ | $ 535 | $ 575 | $ 1,338 | |
Employee Stock Option [Member] | ||||
Note 8 - Shareholders' Equity (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 343,000 | 294,000 | 322,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 1,453,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 292 days | |||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ | $ 1,284 | $ 447 | $ 298 | |
Stock Appreciation Rights (SARs) [Member] | ||||
Note 8 - Shareholders' Equity (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 0 | 0 | ||
Incentive Stock Options [Member] | ||||
Note 8 - Shareholders' Equity (Details) [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 0 | 0 |
Note 8 - Shareholders' Equity79
Note 8 - Shareholders' Equity (Details) - Information About Stock Options Granted - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Options outstanding, range of exercise price, lower range | $ 40 | |
Options outstanding, range of exercise price, upper range | $ 60 | |
Options outstanding, number outstanding (in Shares) | 1,549 | 1,889 |
Options outstanding, aggregate intrinsic value (in Dollars) | $ 1,878 | |
Options outstanding, weighted average remaining contractual life | 5 years 6 months | |
Options outstanding, weighted average exercise price | $ 49 | |
Options exercisable, number outstanding (in Shares) | 1,056 | |
Options exercisable, aggregate intrinsic value (in Dollars) | $ 517 | |
Options exercisable, weighted average remaining contractual life | 4 years 73 days | |
Options exercisable, weighted average exercise price | $ 50 | |
Range 1 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Options outstanding, range of exercise price, lower range | 40 | |
Options outstanding, range of exercise price, upper range | $ 45 | |
Options outstanding, number outstanding (in Shares) | 487 | |
Options outstanding, aggregate intrinsic value (in Dollars) | $ 1,792 | |
Options outstanding, weighted average remaining contractual life | 7 years 328 days | |
Options outstanding, weighted average exercise price | $ 43 | |
Options exercisable, number outstanding (in Shares) | 133 | |
Options exercisable, aggregate intrinsic value (in Dollars) | $ 432 | |
Options exercisable, weighted average remaining contractual life | 5 years 292 days | |
Options exercisable, weighted average exercise price | $ 44 | |
Range 2 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Options outstanding, range of exercise price, lower range | 45 | |
Options outstanding, range of exercise price, upper range | $ 50 | |
Options outstanding, number outstanding (in Shares) | 228 | |
Options outstanding, aggregate intrinsic value (in Dollars) | $ 86 | |
Options outstanding, weighted average remaining contractual life | 3 years 255 days | |
Options outstanding, weighted average exercise price | $ 47 | |
Options exercisable, number outstanding (in Shares) | 228 | |
Options exercisable, aggregate intrinsic value (in Dollars) | $ 85 | |
Options exercisable, weighted average remaining contractual life | 3 years 255 days | |
Options exercisable, weighted average exercise price | $ 47 | |
Range 3 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Options outstanding, range of exercise price, lower range | 50 | |
Options outstanding, range of exercise price, upper range | $ 55 | |
Options outstanding, number outstanding (in Shares) | 671 | |
Options outstanding, weighted average remaining contractual life | 4 years 292 days | |
Options outstanding, weighted average exercise price | $ 52 | |
Options exercisable, number outstanding (in Shares) | 532 | |
Options exercisable, weighted average remaining contractual life | 4 years | |
Options exercisable, weighted average exercise price | $ 51 | |
Range 4 [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Options outstanding, range of exercise price, lower range | 55 | |
Options outstanding, range of exercise price, upper range | $ 60 | |
Options outstanding, number outstanding (in Shares) | 163 | |
Options outstanding, weighted average remaining contractual life | 4 years 36 days | |
Options outstanding, weighted average exercise price | $ 57 | |
Options exercisable, number outstanding (in Shares) | 163 | |
Options exercisable, weighted average remaining contractual life | 4 years 36 days | |
Options exercisable, weighted average exercise price | $ 57 |
Note 8 - Shareholders' Equity80
Note 8 - Shareholders' Equity (Details) - Weighted Average Assumptions Used in the Option Pricing to Value Stock Options Granted - $ / shares | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
Weighted Average Assumptions Used in the Option Pricing to Value Stock Options Granted [Abstract] | ||||
Expected volatility (1) | [1] | 20.00% | 16.00% | 17.00% |
Expected life in years (2) | [2] | 4 years 328 days | 4 years 328 days | 4 years 292 days |
Risk-free interest rate | 1.36% | 1.59% | 0.74% | |
Expected dividend yield (3) | [3] | 3.64% | 3.32% | 3.57% |
Fair value per award (in Dollars per share) | $ 5.46 | $ 5.91 | $ 4.61 | |
[1] | Measured using daily price changes of Company's stock over respective expected term of the option and the implied volatility derived from the market prices of the Company's stock and traded options. | |||
[2] | The number of years that the Company estimates that the options will be outstanding prior to exercise. | |||
[3] | The risk-free rate over the expected life based on the US Treasury yield curve in effect at the time of the grant. |
Note 8 - Shareholders' Equity81
Note 8 - Shareholders' Equity (Details) - Summary of Option Activity shares in Thousands | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Summary of Option Activity [Abstract] | |
Outstanding at January 1, 2015 | shares | 1,889 |
Outstanding at January 1, 2015 | $ / shares | $ 50.31 |
Granted | shares | 343 |
Granted | $ / shares | $ 42.70 |
Exercised | shares | (108) |
Exercised | $ / shares | $ 45.09 |
Forfeited or expired | shares | (575) |
Forfeited or expired | $ / shares | $ 50.71 |
Outstanding at December 31, 2015 | shares | 1,549 |
Outstanding at December 31, 2015 | $ / shares | $ 48.83 |
Outstanding at December 31, 2015 | 5 years 6 months |
Exercisable at December 31, 2015 | shares | 1,056 |
Exercisable at December 31, 2015 | $ / shares | $ 50.23 |
Exercisable at December 31, 2015 | 4 years 73 days |
Note 8 - Shareholders' Equity82
Note 8 - Shareholders' Equity (Details) - Summary of Nonvested Option Activity shares in Thousands | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Summary of Nonvested Option Activity [Abstract] | |
Nonvested at January 1, 2015 | shares | 499 |
Nonvested at January 1, 2015 | $ / shares | $ 5.40 |
Granted | shares | 343 |
Granted | $ / shares | $ 5.46 |
Vested | shares | (247) |
Vested | $ / shares | $ 5.34 |
Forfeited | shares | (102) |
Forfeited | $ / shares | $ 5.45 |
Nonvested at December 31, 2015 | shares | 493 |
Nonvested at December 31, 2015 | $ / shares | $ 5.45 |
Note 8 - Shareholders' Equity83
Note 8 - Shareholders' Equity (Details) - Summary of the Status of Restricted Performance Shares - shares shares in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Summary of the Status of Restricted Performance Shares [Abstract] | ||
Outstanding at January 1, | 50 | 59 |
Granted | 21 | 17 |
Issued upon vesting | (17) | (21) |
Forfeited | (9) | (5) |
Outstanding at December 31, | 45 | 50 |
Note 9 - Risk-based Capital (De
Note 9 - Risk-based Capital (Details) - Capital Ratios for the Company and the Bank - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Consolidated Entities [Member] | |||
Common Equity Tier 1 Capital | |||
Common equity tier 1 capital, amount | $ 402,876 | ||
Common equity tier 1 capital, ratio | 12.82% | ||
Common equity tier 1 capital, minimum regulatory requirement, amount | $ 141,417 | ||
Common equity tier 1 capital, minimum regulatory requirement, ratio | 4.50% | ||
Common equity tier 1 capital, well capitalized by regulatory definition, amount | |||
Common equity tier 1 capital, well capitalized by regulatory definition, ratio | |||
Tier 1 Capital | |||
Tier 1 capital, amount | $ 402,876 | $ 391,121 | |
Tier 1 capital, ratio | 12.82% | 13.30% | |
Tier 1 capital, minimum regulatory requirement, amount | $ 188,557 | $ 117,644 | |
Tier 1 capital, minimum regulatory requirement, ratio | 6.00% | 4.00% | |
Tier 1 capital, well capitalized by regulatory definition, amount | $ 176,467 | ||
Tier 1 capital, well capitalized by regulatory definition, ratio | 6.00% | ||
Total Capital | |||
Total capital, amount | $ 420,731 | $ 427,612 | |
Total capital, ratio | 13.39% | 14.54% | |
Total capital, minimum regulatory requirement, amount | $ 251,409 | $ 235,289 | |
Total capital, minimum regulatory requirement, ratio | 8.00% | 8.00% | |
Total capital, well capitalized by regulatory definition, amount | $ 294,111 | ||
Total capital, well capitalized by regulatory definition, ratio | 10.00% | ||
Leverage Ratio 1 | |||
Leverage ratio, amount | [1] | $ 402,876 | $ 391,121 |
Leverage ratio, ratio | [1] | 7.99% | 7.95% |
Leverage ratio, minimum regulatory requirement, amount | [1] | $ 201,606 | $ 196,809 |
Leverage ratio, minimum regulatory requirement, ratio | [1] | 4.00% | 4.00% |
Leverage ratio, well capitalized by regulatory definition, amount | [1] | $ 246,011 | |
Leverage ratio, well capitalized by regulatory definition, ratio | [1] | 5.00% | |
Westamerica Bank [Member] | |||
Common Equity Tier 1 Capital | |||
Common equity tier 1 capital, amount | $ 340,918 | ||
Common equity tier 1 capital, ratio | 11.00% | ||
Common equity tier 1 capital, minimum regulatory requirement, amount | $ 139,412 | ||
Common equity tier 1 capital, minimum regulatory requirement, ratio | 4.50% | ||
Common equity tier 1 capital, well capitalized by regulatory definition, amount | $ 201,373 | ||
Common equity tier 1 capital, well capitalized by regulatory definition, ratio | 6.50% | ||
Tier 1 Capital | |||
Tier 1 capital, amount | $ 340,918 | $ 349,120 | |
Tier 1 capital, ratio | 11.00% | 12.04% | |
Tier 1 capital, minimum regulatory requirement, amount | $ 185,883 | $ 116,018 | |
Tier 1 capital, minimum regulatory requirement, ratio | 6.00% | 4.00% | |
Tier 1 capital, well capitalized by regulatory definition, amount | $ 247,844 | $ 174,027 | |
Tier 1 capital, well capitalized by regulatory definition, ratio | 8.00% | 6.00% | |
Total Capital | |||
Total capital, amount | $ 361,880 | $ 391,219 | |
Total capital, ratio | 11.68% | 13.49% | |
Total capital, minimum regulatory requirement, amount | $ 247,844 | $ 232,036 | |
Total capital, minimum regulatory requirement, ratio | 8.00% | 8.00% | |
Total capital, well capitalized by regulatory definition, amount | $ 309,805 | $ 290,045 | |
Total capital, well capitalized by regulatory definition, ratio | 10.00% | 10.00% | |
Leverage Ratio 1 | |||
Leverage ratio, amount | [1] | $ 340,918 | $ 349,120 |
Leverage ratio, ratio | [1] | 6.82% | 7.16% |
Leverage ratio, minimum regulatory requirement, amount | [1] | $ 199,919 | $ 195,149 |
Leverage ratio, minimum regulatory requirement, ratio | [1] | 4.00% | 4.00% |
Leverage ratio, well capitalized by regulatory definition, amount | [1] | $ 249,899 | $ 243,936 |
Leverage ratio, well capitalized by regulatory definition, ratio | [1] | 5.00% | 5.00% |
[1] | The leverage ratio consists of Tier 1 capital divided by the most recent quarterly average total assets, excluding certain intangible assets. |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 10 - Income Taxes (Details) [Line Items] | ||
Deferred Tax Assets, Valuation Allowance | $ 0 | |
Tax Credit Carryforward, Amount | 0 | |
Operating Loss Carryforwards | 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 88 | $ 93 |
Internal Revenue Service (IRS) [Member] | Tax Year 2015 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,015 | |
Internal Revenue Service (IRS) [Member] | Tax Year 2014 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,014 | |
Internal Revenue Service (IRS) [Member] | Tax Year 2013 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,013 | |
Internal Revenue Service (IRS) [Member] | Tax Year 2012 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,012 | |
California Franchise Tax Board [Member] | Tax Year 2015 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,015 | |
California Franchise Tax Board [Member] | Tax Year 2014 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,014 | |
California Franchise Tax Board [Member] | Tax Year 2013 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,013 | |
California Franchise Tax Board [Member] | Tax Year 2012 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,012 | |
California Franchise Tax Board [Member] | Tax Year 2011 [Member] | ||
Note 10 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,011 |
Note 10 - Income Taxes (Detai86
Note 10 - Income Taxes (Details) - Components of Net Deferred Tax Asset - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax asset | ||
Allowance for credit losses | $ 13,466 | $ 14,220 |
State franchise taxes | 2,612 | 2,867 |
Deferred compensation | 8,082 | 7,839 |
Real estate owned | 1,062 | 1,041 |
Purchased assets and assumed liabilities | 4,975 | 6,389 |
Post-retirement benefits | 1,072 | 1,097 |
Employee benefit accruals | 3,772 | 4,692 |
VISA Class B shares | 1,691 | 1,706 |
Limited partnership investments | 760 | 1,332 |
Impaired capital assets | 19,074 | 18,941 |
Leases | 84 | |
Premises and equipment | 205 | 538 |
Other | 397 | 730 |
Subtotal deferred tax asset | 57,168 | 61,476 |
Total deferred tax asset | 57,168 | 61,476 |
Deferred tax liability | ||
Net deferred loan fees | 456 | 461 |
Intangible assets | 4,294 | 5,770 |
Securities available for sale | 542 | 3,919 |
Other | 128 | 423 |
Total deferred tax liability | 5,420 | 10,573 |
Net deferred tax asset | $ 51,748 | $ 50,903 |
Note 10 - Income Taxes (Detai87
Note 10 - Income Taxes (Details) - Provision for Federal and State Income Taxes - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Current income tax expense: | |||
Federal | $ 9,647 | $ 11,950 | $ 13,975 |
State | 6,738 | 7,802 | 8,597 |
Total current | 16,385 | 19,752 | 22,572 |
Deferred income tax expense (benefit): | |||
Federal | 1,643 | (1,220) | (2,518) |
State | (109) | (225) | (1,109) |
Total deferred | 1,534 | (1,445) | (3,627) |
Provision for income taxes | $ 17,919 | $ 18,307 | $ 18,945 |
Note 10 - Income Taxes (Detai88
Note 10 - Income Taxes (Details) - Reconciliation of Income Tax Provision - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reconciliation of Income Tax Provision [Abstract] | |||
Federal income taxes due at statutory rate | $ 26,835 | $ 27,634 | $ 30,142 |
Reductions in income taxes resulting from: | |||
Interest on state and municipal securities and loans not taxable for federal income tax purposes | (9,046) | (10,173) | (11,565) |
State franchise taxes, net of federal income tax benefit | 4,309 | 4,925 | 4,712 |
Tax credits | (2,600) | (2,700) | (3,190) |
Dividend received deduction | (45) | (39) | (32) |
Cash value life insurance | (599) | (641) | (747) |
Other | (935) | (699) | (375) |
Provision for income taxes | $ 17,919 | $ 18,307 | $ 18,945 |
Note 10 - Income Taxes (Detai89
Note 10 - Income Taxes (Details) - Reconciliation of Unrecognized Tax Benefits - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of Unrecognized Tax Benefits [Abstract] | ||
Balance at January 1, | $ 1,635 | $ 1,437 |
Additions for tax positions taken in the current period | 245 | |
Additions for tax positions taken in prior years | 55 | |
Reductions for tax positions taken in prior years | (447) | (47) |
Balance at December 31, | $ 1,243 | $ 1,635 |
Note 11 - Fair Value Measurem90
Note 11 - Fair Value Measurements (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 11 - Fair Value Measurements (Details) [Line Items] | ||||
Securities Selected For OTTI Analysis Market Price Threshold | 95.00% | |||
Securities Selected for OTTI Analysis Market to Book Ratio Threshold | 95 | |||
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount | $ 437,715 | |||
Loans and Leases Receivable, Allowance | 29,771 | $ 31,485 | $ 31,693 | $ 30,234 |
Purchased Covered Loans [Member] | ||||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||||
Loans and Leases Receivable, Allowance | 0 | 1,561 | 1,005 | |
Fair Value Discount, Credit Default Risk, Purchased Loans | 152 | 468 | ||
Purchased Non-Covered Loans [Member] | ||||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||||
Loans and Leases Receivable, Allowance | 2,120 | $ 0 | $ 0 | |
Fair Value Discount, Credit Default Risk, Purchased Loans | $ 6,432 | $ 9,372 | ||
Fair Value, Inputs, Level 3 [Member] | ||||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||||
Fair Value Inputs, Discount Rate | 10.00% | |||
Fair Value, Inputs, Level 2 [Member] | ||||
Note 11 - Fair Value Measurements (Details) [Line Items] | ||||
Fair Value Inputs, Discount Rate | 10.00% |
Note 11 - Fair Value Measurem91
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | $ 1,570,216 | $ 1,600,781 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 301,882 | 635,188 | |
Agency Residential MBS [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 202,544 | ||
Non-agency Residential MBS [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 370 | ||
Agency Commercial MBS [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,379 | ||
US States and Political Subdivisions Debt Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 157,509 | 181,799 | |
Asset-backed Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,003 | 8,313 | |
FHLMC And FNMA Stock [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | [1],[2] | 4,329 | 5,168 |
Domestic Corporate Debt Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 896,369 | 512,239 | |
Other Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,831 | 2,786 | |
US Treasury Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 3,505 | ||
Residential Mortgage Backed Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 26,407 | ||
Commercial Mortgage Backed Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,919 | ||
Residential Collateralized Mortgage Obligations [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 222,457 | ||
Fair Value, Inputs, Level 1 [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 998 | 644,771 | |
Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 635,188 | ||
Fair Value, Inputs, Level 1 [Member] | FHLMC And FNMA Stock [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 7 | 5,168 | |
Fair Value, Inputs, Level 1 [Member] | Other Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 991 | 910 | |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 3,505 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 1,569,218 | 956,010 | |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 301,882 | ||
Fair Value, Inputs, Level 2 [Member] | Agency Residential MBS [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 202,544 | ||
Fair Value, Inputs, Level 2 [Member] | Non-agency Residential MBS [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 370 | ||
Fair Value, Inputs, Level 2 [Member] | Agency Commercial MBS [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,379 | ||
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 157,509 | 181,799 | |
Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,003 | 8,313 | |
Fair Value, Inputs, Level 2 [Member] | FHLMC And FNMA Stock [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 4,322 | ||
Fair Value, Inputs, Level 2 [Member] | Domestic Corporate Debt Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 896,369 | 512,239 | |
Fair Value, Inputs, Level 2 [Member] | Other Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | $ 1,840 | 1,876 | |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 26,407 | ||
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage Backed Securities [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | 2,919 | ||
Fair Value, Inputs, Level 2 [Member] | Residential Collateralized Mortgage Obligations [Member] | |||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Recurring Basis [Line Items] | |||
Investment securities available for sale | $ 222,457 | ||
[1] | Federal Home Loan Mortgage Corporation | ||
[2] | Federal National Mortgage Association |
Note 11 - Fair Value Measurem92
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | $ 24,897 | $ 23,459 |
Total losses | (769) | (1,242) |
Other Real Estate Owned [Member] | ||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 9,264 | 6,374 |
Total losses | (320) | (358) |
Impaired Loans [Member] | ||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 15,633 | 17,085 |
Total losses | (449) | (884) |
Fair Value, Inputs, Level 2 [Member] | ||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 14,044 | |
Fair Value, Inputs, Level 2 [Member] | Other Real Estate Owned [Member] | ||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 6,374 | |
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member] | ||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 7,670 | |
Fair Value, Inputs, Level 3 [Member] | ||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 24,897 | 9,415 |
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | 9,264 | |
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
Note 11 - Fair Value Measurements (Details) - Assets Measured at Fair Value on a Nonrecurring Basis [Line Items] | ||
Fair value | $ 15,633 | $ 9,415 |
Note 11 - Fair Value Measurem93
Note 11 - Fair Value Measurements (Details) - Fair Value Estimates for Financial Instruments, Excluding Financial Instruments Recorded at Fair Value on a Recurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities held to maturity | $ 1,325,699 | $ 1,048,562 |
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 433,044 | 380,836 |
Investment securities held to maturity | 1,316,075 | 1,038,658 |
Loans | 1,503,625 | 1,668,805 |
Financial Liabilities: | ||
Deposits | 4,540,659 | 4,349,191 |
Short-term borrowed funds | 53,028 | 89,784 |
Federal Home Loan Bank advances | 20,015 | |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 433,044 | 380,836 |
Investment securities held to maturity | 1,325,699 | 1,048,562 |
Loans | 1,517,394 | 1,685,048 |
Financial Liabilities: | ||
Deposits | 4,539,455 | 4,348,958 |
Short-term borrowed funds | 53,028 | 89,784 |
Federal Home Loan Bank advances | 20,014 | |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 433,044 | 380,836 |
Investment securities held to maturity | 1,077 | |
Financial Liabilities: | ||
Federal Home Loan Bank advances | 20,014 | |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Investment securities held to maturity | 1,325,699 | 1,047,485 |
Financial Liabilities: | ||
Deposits | 4,253,691 | 3,964,048 |
Short-term borrowed funds | 53,028 | 89,784 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 1,517,394 | 1,685,048 |
Financial Liabilities: | ||
Deposits | $ 285,764 | $ 384,910 |
Note 12 - Lease Commitments (De
Note 12 - Lease Commitments (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Leases [Abstract] | |||
Banking Offices Owned | 32 | ||
Facilities Leased | 64 | ||
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals | $ 2,076 | ||
Operating Leases, Rent Expense, Minimum Rentals | 8,359 | $ 8,798 | $ 8,953 |
Operating Leases, Rent Expense, Sublease Rentals | 1,721 | 1,833 | 1,852 |
Operating Leases, Rent Expense, Net | $ 6,638 | $ 6,965 | $ 7,101 |
Note 12 - Lease Commitments (95
Note 12 - Lease Commitments (Details) - Minimum Future Rental Payments Under Noncancelable Operating Leases $ in Thousands | Dec. 31, 2015USD ($) |
Minimum Future Rental Payments Under Noncancelable Operating Leases [Abstract] | |
2,016 | $ 6,708 |
2,017 | 5,814 |
2,018 | 5,073 |
2,019 | 3,551 |
2,020 | 1,998 |
Thereafter | 1,516 |
Total minimum lease payments | $ 24,660 |
Note 13 - Commitments and Con96
Note 13 - Commitments and Contingent Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 13 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Unfunded Loan Commitments | $ 299,884 | $ 312,694 |
Other Liabilities [Member] | ||
Note 13 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Reserve for Unfunded Commitments | 2,593 | 2,693 |
Financial Standby Letter of Credit [Member] | ||
Note 13 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Letters of Credit Outstanding, Amount | 26,149 | 29,002 |
Standby Letters of Credit [Member] | ||
Note 13 - Commitments and Contingent Liabilities (Details) [Line Items] | ||
Letters of Credit Outstanding, Amount | $ 40 | $ 40 |
Note 14 - Retirement Benefit 97
Note 14 - Retirement Benefit Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Defined Contribution Plan, Cost Recognized | $ 734 | $ 1,002 | $ 1,200 |
Employee Stock Ownership Plan (ESOP), Compensation Expense | 1,147 | $ 1,159 | $ 1,214 |
Defined Benefit Plan, Future Amortization of Transition Obligation (Asset) | $ 61 | ||
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 0.00% |
Note 14 - Retirement Benefit 98
Note 14 - Retirement Benefit Plans (Details) - Net Periodic Benefit Cost - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net Periodic Benefit Cost [Abstract] | |||
Service (benefit) cost | $ (202) | $ 288 | $ (153) |
Interest cost | 106 | 122 | 110 |
Amortization of unrecognized transition obligation | 61 | 61 | 61 |
Net periodic (benefit) cost | (35) | 471 | 18 |
Amortization of unrecognized transition obligation, net of tax | (36) | (36) | (36) |
Total recognized in net periodic (benefit) cost and accumulated other comprehensive income | $ (71) | $ 435 | $ (18) |
Note 14 - Retirement Benefit 99
Note 14 - Retirement Benefit Plans (Details) - Obligation and Funded Status - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 14 - Retirement Benefit Plans (Details) - Obligation and Funded Status [Line Items] | |||
Benefit obligation at beginning of year | $ 2,782 | $ 2,544 | $ 2,755 |
Service (benefit) cost | (202) | 288 | (153) |
Interest cost | 106 | 122 | 110 |
Benefits paid | (164) | (172) | (168) |
Benefit obligation | 2,522 | 2,782 | 2,544 |
Accumulated post-retirement benefit obligation attributable to: | |||
Accumulated post-retirement benefit obligation in excess of plan assets | 2,522 | 2,782 | 2,544 |
Retirees [Member] | |||
Note 14 - Retirement Benefit Plans (Details) - Obligation and Funded Status [Line Items] | |||
Benefit obligation at beginning of year | 1,732 | 1,443 | |
Benefit obligation | 1,695 | 1,732 | 1,443 |
Full Eligible Participants [Member] | |||
Note 14 - Retirement Benefit Plans (Details) - Obligation and Funded Status [Line Items] | |||
Benefit obligation at beginning of year | 998 | 983 | |
Benefit obligation | 809 | 998 | 983 |
Other Participants [Member] | |||
Note 14 - Retirement Benefit Plans (Details) - Obligation and Funded Status [Line Items] | |||
Benefit obligation at beginning of year | 52 | 118 | |
Benefit obligation | $ 18 | $ 52 | $ 118 |
Note 14 - Retirement Benefit100
Note 14 - Retirement Benefit Plans (Details) - Assumptions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Weighted-average assumptions used to determine benefit obligations | |||
Discount rate | 4.30% | 3.80% | 4.80% |
Weighted-average assumptions used to determine net periodic benefit cost | |||
Discount rate | 3.80% | 4.80% | 4.00% |
Note 14 - Retirement Benefit101
Note 14 - Retirement Benefit Plans (Details) - Estimated Future Benefit Payments $ in Thousands | Dec. 31, 2015USD ($) |
Estimated Future Benefit Payments [Abstract] | |
2,016 | $ 165 |
2,017 | 165 |
2,018 | 160 |
2,019 | 156 |
2,020 | 152 |
Years 2021-2025 | $ 700 |
Note 15 - Related Party Tran102
Note 15 - Related Party Transactions (Details) - Loans to Certain Directors and Executive Officers and/or Family Members - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Loans to Certain Directors and Executive Officers and/or Family Members [Abstract] | ||
Balance at January 1, | $ 957 | $ 1,013 |
Principal reductions | (46) | (56) |
Balance at December 31, | $ 911 | $ 957 |
Percent of total loans outstanding. | 0.06% | 0.06% |
Note 16 - Regulatory Matters (D
Note 16 - Regulatory Matters (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Regulatory Matters [Abstract] | ||
Federal Reserve Bank Average Balance Deposit | $ 254,600 | $ 400,039 |
Note 17 - Other Comprehensiv104
Note 17 - Other Comprehensive Income (Details) - Components of Other Comprehensive Income (Loss) and Other Related Tax Effects - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Securities available for sale: | |||
Net unrealized losses arising during the year, before tax | $ (8,028) | $ 1,627 | $ (17,855) |
Net unrealized losses arising during the year, tax effect | 3,375 | (684) | 7,507 |
Net unrealized losses arising during the year, net of tax | (4,653) | 943 | (10,348) |
Net unrealized losses arising during the year, before tax | (8,028) | 1,627 | (17,855) |
Net unrealized losses arising during the year, tax effect | 3,375 | (684) | 7,507 |
Net unrealized losses arising during the year, net of tax | (4,653) | 943 | (10,348) |
Post-retirement benefit obligation, before tax | 61 | 61 | 61 |
Post-retirement benefit obligation, tax effect | (25) | (25) | (25) |
Post-retirement benefit obligation, net of tax | 36 | 36 | 36 |
Other comprehensive loss, before tax | (7,967) | 1,688 | (17,794) |
Other comprehensive loss, tax effect | 3,350 | (709) | 7,482 |
Other comprehensive loss, net of tax | $ (4,617) | $ 979 | $ (10,312) |
Note 17 - Other Comprehensiv105
Note 17 - Other Comprehensive Income (Details) - Cumulative Other Comprehensive Income (Loss) Balances - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cumulative Other Comprehensive Income (Loss) Balances [Abstract] | |||
Post-retirement benefit obligation, balance | $ (106) | $ (142) | $ (178) |
Net unrealized gains (losses) on securities, balance | 5,398 | 4,455 | 14,803 |
Accumulated other comprehensive income (loss), balance | 5,292 | 4,313 | 14,625 |
Post-retirement benefit obligation, net change | 36 | 36 | 36 |
Net unrealized gains (losses) on securities, net change | (4,653) | 943 | (10,348) |
Accumulated other comprehensive income (loss), net change | (4,617) | 979 | (10,312) |
Post-retirement benefit obligation, balance | (70) | (106) | (142) |
Net unrealized gains (losses) on securities, balance | 745 | 5,398 | 4,455 |
Accumulated other comprehensive income (loss), balance | $ 675 | $ 5,292 | $ 4,313 |
Note 18 - Earnings Per Commo106
Note 18 - Earnings Per Common Share (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Employee Stock Option [Member] | |||
Note 18 - Earnings Per Common Share (Details) [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,313 | 1,133 | 1,575 |
Note 18 - Earnings Per Commo107
Note 18 - Earnings Per Common Share (Details) - Earnings Per Common Share and Diluted Earnings Per Common Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Common Share and Diluted Earnings Per Common Share [Abstract] | |||||||||||||||
Net income (numerator) (in Dollars) | $ 14,578 | $ 14,857 | $ 14,761 | $ 14,557 | $ 15,028 | $ 15,154 | $ 15,157 | $ 15,307 | $ 16,056 | $ 16,738 | $ 17,112 | $ 17,271 | $ 58,753 | $ 60,646 | $ 67,177 |
Basic earnings per common share | |||||||||||||||
Weighted average number of common shares outstanding - basic | 25,555 | 26,099 | 28,826 | ||||||||||||
Add common stock equivalents for options | 22 | 61 | 51 | ||||||||||||
Weighted average number of common shares outstanding - diluted (denominator) | 25,577 | 26,160 | 26,877 | ||||||||||||
Diluted earnings per common share (in Dollars per share) | $ 0.57 | $ 0.58 | $ 0.58 | $ 0.57 | $ 0.58 | $ 0.58 | $ 0.58 | $ 0.58 | $ 0.60 | $ 0.63 | $ 0.64 | $ 0.64 | $ 2.30 | $ 2.32 | $ 2.50 |
Basic earnings per common share (in Dollars per share) | $ 0.57 | $ 0.58 | $ 0.58 | $ 0.57 | $ 0.58 | $ 0.58 | $ 0.58 | $ 0.58 | $ 0.60 | $ 0.63 | $ 0.64 | $ 0.64 | $ 2.30 | $ 2.32 | $ 2.50 |
Note 19 - Westamerica Bancor108
Note 19 - Westamerica Bancorporation (Parent Company Only) (Details) - Statements of Income and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 19 - Westamerica Bancorporation (Parent Company Only) (Details) - Statements of Income and Comprehensive Income [Line Items] | |||||||||||||||
Salaries and benefits | $ 52,192 | $ 54,777 | $ 56,633 | ||||||||||||
Income before taxes and equity in undistributed income of subsidiaries | $ 19,126 | $ 19,534 | $ 19,181 | $ 18,831 | $ 19,534 | $ 19,892 | $ 19,744 | $ 19,783 | $ 20,125 | $ 21,641 | $ 22,342 | $ 22,014 | 76,672 | 78,953 | 86,122 |
Income tax benefit | (17,919) | (18,307) | (18,945) | ||||||||||||
Net income | $ 14,578 | $ 14,857 | $ 14,761 | $ 14,557 | $ 15,028 | $ 15,154 | $ 15,157 | $ 15,307 | $ 16,056 | $ 16,738 | $ 17,112 | $ 17,271 | 58,753 | 60,646 | 67,177 |
Other comprehensive (loss) income, net of tax | (4,617) | 979 | (10,312) | ||||||||||||
Comprehensive income | 54,136 | 61,625 | 56,865 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Note 19 - Westamerica Bancorporation (Parent Company Only) (Details) - Statements of Income and Comprehensive Income [Line Items] | |||||||||||||||
Dividends from subsidiaries | 68,981 | 75,369 | 88,754 | ||||||||||||
Interest income | 10 | 7 | 14 | ||||||||||||
Other income | 8,411 | 7,182 | 8,684 | ||||||||||||
Total income | 77,402 | 82,558 | 97,452 | ||||||||||||
Interest on borrowings | 1 | 42 | 707 | ||||||||||||
Salaries and benefits | 6,291 | 6,587 | 7,120 | ||||||||||||
Other expense | 3,424 | 1,704 | 2,174 | ||||||||||||
Total expense | 9,716 | 8,333 | 10,001 | ||||||||||||
Income before taxes and equity in undistributed income of subsidiaries | 67,686 | 74,225 | 87,451 | ||||||||||||
Income tax benefit | 803 | 742 | 732 | ||||||||||||
Earnings of subsidiaries less than subsidiary dividends | (9,736) | (14,321) | (21,006) | ||||||||||||
Net income | 58,753 | 60,646 | 67,177 | ||||||||||||
Other comprehensive (loss) income, net of tax | (4,617) | 979 | (10,312) | ||||||||||||
Comprehensive income | $ 54,136 | $ 61,625 | $ 56,865 |
Note 19 - Westamerica Bancor109
Note 19 - Westamerica Bancorporation (Parent Company Only) (Details) - Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Assets | ||||
Premises and equipment, net | $ 38,693 | $ 37,852 | ||
Other assets | 165,854 | 166,458 | ||
Total assets | 5,168,875 | 5,035,724 | ||
Liabilities | ||||
Other liabilities | 42,983 | 50,131 | ||
Total liabilities | 4,636,670 | 4,509,121 | ||
Shareholders' equity | 532,205 | 526,603 | $ 542,934 | $ 560,102 |
Total liabilities and shareholders' equity | 5,168,875 | 5,035,724 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash | 26,453 | 7,451 | $ 12,839 | $ 13,219 |
Investment securities available for sale | 991 | 910 | ||
Premises and equipment, net | 9,391 | 9,679 | ||
Accounts receivable from Westamerica Bank | 552 | 323 | ||
Other assets | 33,850 | 32,974 | ||
Total assets | 547,389 | 541,891 | ||
Liabilities | ||||
Accounts payable to Westamerica Bank | 737 | 790 | ||
Other liabilities | 14,447 | 14,498 | ||
Total liabilities | 15,184 | 15,288 | ||
Shareholders' equity | 532,205 | 526,603 | ||
Total liabilities and shareholders' equity | 547,389 | 541,891 | ||
Parent Company [Member] | Westamerica Bank [Member] | ||||
Assets | ||||
Investment | 475,697 | 490,098 | ||
Parent Company [Member] | Non-bank Subsidiaries [Member] | ||||
Assets | ||||
Investment | $ 455 | $ 456 |
Note 19 - Westamerica Bancor110
Note 19 - Westamerica Bancorporation (Parent Company Only) (Details) - Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Activities | |||||||||||||||
Net income | $ 14,578 | $ 14,857 | $ 14,761 | $ 14,557 | $ 15,028 | $ 15,154 | $ 15,157 | $ 15,307 | $ 16,056 | $ 16,738 | $ 17,112 | $ 17,271 | $ 58,753 | $ 60,646 | $ 67,177 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
Depreciation and amortization | 16,402 | 15,502 | 18,015 | ||||||||||||
Increase in other assets | (1,828) | (2,923) | 5,814 | ||||||||||||
Stock option compensation expense | 1,272 | 1,318 | 1,397 | ||||||||||||
(Benefit) provision for deferred income tax | 1,534 | (1,445) | (3,627) | ||||||||||||
Increase (decrease) in other liabilities | (5,754) | 4,474 | (12,510) | ||||||||||||
Net Cash Provided by Operating Activities | 70,404 | 82,311 | 85,315 | ||||||||||||
Financing Activities | |||||||||||||||
Exercise of stock options/issuance of shares | 4,848 | 12,396 | 21,499 | ||||||||||||
Retirement of common stock including repurchases | (15,092) | (52,678) | (57,320) | ||||||||||||
Dividends | (39,124) | (39,761) | (40,096) | ||||||||||||
Net Cash Used in Financing Activities | 84,068 | 121,759 | (155,591) | ||||||||||||
Net change in cash | 52,208 | (91,192) | (19,354) | ||||||||||||
Supplemental disclosure of cash flow activities: | |||||||||||||||
Interest paid for the period | 2,533 | 3,822 | 5,452 | ||||||||||||
Income tax payments for the period | 17,666 | 16,412 | 22,562 | ||||||||||||
Parent Company [Member] | |||||||||||||||
Operating Activities | |||||||||||||||
Net income | 58,753 | 60,646 | 67,177 | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
Depreciation and amortization | 326 | 341 | 312 | ||||||||||||
(Increase) decrease in accounts receivable from affiliates | (217) | (17) | 26 | ||||||||||||
Increase in other assets | (1,713) | (1,668) | (926) | ||||||||||||
Stock option compensation expense | 1,272 | 1,318 | 1,397 | ||||||||||||
Tax benefit decrease upon exercise of stock options | 1,284 | 447 | 298 | ||||||||||||
(Benefit) provision for deferred income tax | (491) | 616 | (769) | ||||||||||||
Increase (decrease) in other liabilities | 743 | (814) | 2,573 | ||||||||||||
Earnings of subsidiaries less than subsidiary dividends | 9,736 | 14,321 | 21,006 | ||||||||||||
Gain on sales of property and equipment | (39) | (88) | (259) | ||||||||||||
Net Cash Provided by Operating Activities | 69,654 | 75,102 | 90,835 | ||||||||||||
Financing Activities | |||||||||||||||
Net reductions in debt financing | (15,000) | ||||||||||||||
Exercise of stock options/issuance of shares | 4,848 | 12,396 | 21,499 | ||||||||||||
Tax benefit decrease upon exercise of stock options | (1,284) | (447) | (298) | ||||||||||||
Retirement of common stock including repurchases | (15,092) | (52,678) | (57,320) | ||||||||||||
Dividends | (39,124) | (39,761) | (40,096) | ||||||||||||
Net Cash Used in Financing Activities | (50,652) | (80,490) | (91,215) | ||||||||||||
Net change in cash | 19,002 | (5,388) | (380) | ||||||||||||
Cash at Beginning of Period | $ 7,451 | $ 12,839 | $ 13,219 | 7,451 | 12,839 | 13,219 | |||||||||
Cash at End of Period | $ 26,453 | $ 7,451 | $ 12,839 | 26,453 | 7,451 | 12,839 | |||||||||
Supplemental disclosure of cash flow activities: | |||||||||||||||
Interest paid for the period | 1 | 42 | 840 | ||||||||||||
Income tax payments for the period | $ 17,666 | $ 16,412 | $ 22,562 |
Note 20 - Quarterly Financia111
Note 20 - Quarterly Financial Information (Details) - Quarterly Financial Information - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
2,015 | |||||||||||||||
Interest and loan fee income | $ 33,888 | $ 34,299 | $ 34,425 | $ 33,917 | $ 34,342 | $ 34,900 | $ 35,403 | $ 35,564 | $ 36,706 | $ 37,956 | $ 39,269 | $ 40,465 | $ 136,529 | $ 140,209 | $ 154,396 |
Net interest income | 33,325 | 33,714 | 33,808 | 33,258 | 33,542 | 34,054 | 34,503 | 34,666 | 35,682 | 36,780 | 38,050 | 39,213 | 134,105 | 136,765 | 149,725 |
Provision for credit losses | 200 | 600 | 1,000 | 1,000 | 1,600 | 1,800 | 1,800 | 2,800 | 0 | 2,800 | 8,000 | ||||
Noninterest income | 11,305 | 11,993 | 12,269 | 12,300 | 12,545 | 13,054 | 13,198 | 12,990 | 14,030 | 14,419 | 14,284 | 14,278 | 47,867 | 51,787 | 57,011 |
Noninterest expense | 25,504 | 26,173 | 26,896 | 26,727 | 26,353 | 26,616 | 26,957 | 26,873 | 27,987 | 27,758 | 28,192 | 28,677 | 105,300 | 106,799 | 112,614 |
Income before taxes | 19,126 | 19,534 | 19,181 | 18,831 | 19,534 | 19,892 | 19,744 | 19,783 | 20,125 | 21,641 | 22,342 | 22,014 | 76,672 | 78,953 | 86,122 |
Net income | $ 14,578 | $ 14,857 | $ 14,761 | $ 14,557 | $ 15,028 | $ 15,154 | $ 15,157 | $ 15,307 | $ 16,056 | $ 16,738 | $ 17,112 | $ 17,271 | $ 58,753 | $ 60,646 | $ 67,177 |
Basic earnings per common share (in Dollars per share) | $ 0.57 | $ 0.58 | $ 0.58 | $ 0.57 | $ 0.58 | $ 0.58 | $ 0.58 | $ 0.58 | $ 0.60 | $ 0.63 | $ 0.64 | $ 0.64 | $ 2.30 | $ 2.32 | $ 2.50 |
Diluted earnings per common share (in Dollars per share) | 0.57 | 0.58 | 0.58 | 0.57 | 0.58 | 0.58 | 0.58 | 0.58 | 0.60 | 0.63 | 0.64 | 0.64 | 2.30 | 2.32 | 2.50 |
Dividends paid per common share (in Dollars per share) | 0.39 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.37 | 0.37 | 0.37 | 1.53 | 1.52 | 1.49 |
Price range, common stock (in Dollars per share) | 46.75 | 46.75 | |||||||||||||
Minimum [Member] | |||||||||||||||
2,015 | |||||||||||||||
Price range, common stock (in Dollars per share) | 41.99 | 42.97 | 42.09 | 40.57 | 42.71 | 46.12 | 47.85 | 48.36 | 48.29 | 45.73 | 41.76 | 42.59 | 41.99 | 42.71 | 48.29 |
Maximum [Member] | |||||||||||||||
2,015 | |||||||||||||||
Price range, common stock (in Dollars per share) | $ 49.89 | $ 52.40 | $ 52.16 | $ 49.45 | $ 51.24 | $ 53.93 | $ 55.34 | $ 56.51 | $ 57.59 | $ 50.78 | $ 46.56 | $ 45.80 | $ 49.89 | $ 51.24 | $ 57.59 |