Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 26, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | WESTAMERICA BANCORPORATION | |
Entity Central Index Key | 311,094 | |
Trading Symbol | wabc | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 26,345,570 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets: | ||
Cash and due from banks | $ 561,757 | $ 462,271 |
Investment securities available for sale | 2,090,477 | 1,890,758 |
Investment securities held to maturity, with fair values of: $1,208,279 at September 30, 2017 and $1,340,741 at December 31, 2016 | 1,204,240 | 1,346,312 |
Loans | 1,284,782 | 1,352,711 |
Allowance for loan losses | (23,628) | (25,954) |
Loans, net of allowance for loan losses | 1,261,154 | 1,326,757 |
Other real estate owned | 1,426 | 3,095 |
Premises and equipment, net | 35,507 | 36,566 |
Identifiable intangibles, net | 4,605 | 6,927 |
Goodwill | 121,673 | 121,673 |
Other assets | 164,969 | 171,724 |
Total Assets | 5,445,808 | 5,366,083 |
Liabilities: | ||
Noninterest-bearing deposits | 2,128,342 | 2,089,443 |
Interest-bearing deposits | 2,606,238 | 2,615,298 |
Total deposits | 4,734,580 | 4,704,741 |
Short-term borrowed funds | 66,337 | 59,078 |
Other liabilities | 40,934 | 40,897 |
Total Liabilities | 4,841,851 | 4,804,716 |
Contingencies (Note 10) | ||
Shareholders' Equity: | ||
Common stock (no par value), authorized - 150,000 shares Issued and outstanding: 26,319 at September 30, 2017 and 25,907 at December 31, 2016 | 425,655 | 404,606 |
Deferred compensation | 1,533 | 1,533 |
Accumulated other comprehensive loss | (3,433) | (10,074) |
Retained earnings | 180,202 | 165,302 |
Total Shareholders' Equity | 603,957 | 561,367 |
Total Liabilities and Shareholders' Equity | $ 5,445,808 | $ 5,366,083 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investment securities held to maturity, fair values | $ 1,208,279 | $ 1,340,741 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 150,000 | 150,000 |
Common stock, issued (in shares) | 26,319 | 25,907 |
Common stock, outstanding (in shares) | 26,319 | 25,907 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest and Loan Fee Income: | ||||
Loans | $ 15,082 | $ 16,968 | $ 46,330 | $ 52,904 |
Investment securities available for sale | 11,347 | 8,796 | 32,305 | 24,855 |
Investment securities held to maturity | 6,716 | 7,704 | 20,997 | 23,083 |
Total Interest and Loan Fee Income | 33,145 | 33,468 | 99,632 | 100,842 |
Interest Expense: | ||||
Deposits | 461 | 512 | 1,395 | 1,586 |
Short-term borrowed funds | 12 | 11 | 34 | 30 |
Total Interest Expense | 473 | 523 | 1,429 | 1,616 |
Net Interest and Loan Fee Income | 32,672 | 32,945 | 98,203 | 99,226 |
Reversal of Provision for Loan Losses | (3,200) | (1,900) | (3,200) | |
Net Interest and Loan Fee Income After Reversal of Provision for Loan Losses | 32,672 | 36,145 | 100,103 | 102,426 |
Noninterest Income: | ||||
Service charges on deposit accounts | 4,989 | 5,303 | 14,857 | 15,790 |
Merchant processing services | 2,153 | 1,532 | 6,080 | 4,699 |
Debit card fees | 1,784 | 1,587 | 4,851 | 4,724 |
Trust fees | 718 | 686 | 2,136 | 2,004 |
ATM processing fees | 684 | 600 | 1,914 | 1,860 |
Other service fees | 652 | 671 | 1,964 | 1,951 |
Financial services commissions | 148 | 118 | 484 | 411 |
Other noninterest income | 1,420 | 1,101 | 4,042 | 3,590 |
Total Noninterest Income | 12,548 | 11,598 | 36,328 | 35,029 |
Noninterest Expense: | ||||
Salaries and related benefits | 12,816 | 13,063 | 38,867 | 39,067 |
Occupancy | 3,665 | 3,749 | 10,807 | 10,546 |
Outsourced data processing services | 2,383 | 2,114 | 6,710 | 6,375 |
Furniture and equipment | 1,242 | 1,211 | 3,764 | 3,611 |
Amortization of identifiable intangibles | 760 | 867 | 2,322 | 2,642 |
Professional fees | 512 | 1,693 | 1,533 | 3,183 |
Courier service | 451 | 451 | 1,310 | 1,458 |
Other real estate owned | 221 | (206) | 54 | (487) |
Other noninterest expense | 2,064 | 3,146 | 7,758 | 10,780 |
Total Noninterest Expense | 24,114 | 26,088 | 73,125 | 77,175 |
Income Before Income Taxes | 21,106 | 21,655 | 63,306 | 60,280 |
Provision for income taxes | 6,089 | 6,027 | 17,441 | 15,880 |
Net Income | $ 15,017 | $ 15,628 | $ 45,865 | $ 44,400 |
Average Common Shares Outstanding (in shares) | 26,309 | 25,641 | 26,260 | 25,558 |
Average Diluted Common Shares Outstanding (in shares) | 26,404 | 25,687 | 26,379 | 25,595 |
Per Common Share Data: | ||||
Basic earnings (in dollars per share) | $ 0.57 | $ 0.61 | $ 1.75 | $ 1.74 |
Diluted earnings (in dollars per share) | 0.57 | 0.61 | 1.74 | 1.73 |
Dividends paid (in dollars per share) | $ 0.39 | $ 0.39 | $ 1.17 | $ 1.17 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income | $ 15,017 | $ 15,628 | $ 45,865 | $ 44,400 |
Other comprehensive income (loss): | ||||
Changes in unrealized gains and losses on securities available for sale | 4,179 | (4,992) | 11,413 | 14,319 |
Deferred tax (expense) benefit | (1,757) | 2,099 | (4,799) | (6,020) |
Changes in unrealized gains and losses on securities available for sale, net of tax | 2,422 | (2,893) | 6,614 | 8,299 |
Post-retirement benefit transition obligation amortization | 15 | 15 | 45 | 45 |
Deferred tax expense | (6) | (6) | (18) | (18) |
Post-retirement benefit transition obligation amortization, net of tax | 9 | 9 | 27 | 27 |
Total other comprehensive income (loss) | 2,431 | (2,884) | 6,641 | 8,326 |
Total comprehensive income | $ 17,448 | $ 12,744 | $ 52,506 | $ 52,726 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Accumulated Deferred Compensation [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 25,528 | ||||
Balance at Dec. 31, 2015 | $ 378,858 | $ 2,578 | $ 675 | $ 150,094 | $ 532,205 |
Net income applicable to common equity (numerator) | 44,400 | 44,400 | |||
Other comprehensive income | 8,326 | 8,326 | |||
Exercise of stock options (in shares) | 258 | ||||
Exercise of stock options | $ 11,588 | 11,588 | |||
Tax benefit increase upon exercise and expiration of stock options | $ 199 | 199 | |||
Restricted stock activity (in shares) | 15 | ||||
Restricted stock activity | $ 1,798 | (1,045) | 753 | ||
Stock based compensation | $ 1,142 | 1,142 | |||
Stock awarded to employees (in shares) | 1 | ||||
Stock awarded to employees | $ 75 | 75 | |||
Retirement of common stock (in shares) | (137) | ||||
Retirement of common stock | $ (2,059) | (3,721) | (5,780) | ||
Dividends | (29,912) | (29,912) | |||
Balance (in shares) at Sep. 30, 2016 | 25,665 | ||||
Balance at Sep. 30, 2016 | $ 391,601 | 1,533 | 9,001 | 160,861 | 562,996 |
Balance (in shares) at Dec. 31, 2016 | 25,907 | ||||
Balance at Dec. 31, 2016 | $ 404,606 | 1,533 | (10,074) | 165,302 | 561,367 |
Net income applicable to common equity (numerator) | 45,865 | 45,865 | |||
Other comprehensive income | 6,641 | $ 6,641 | |||
Exercise of stock options (in shares) | 403 | 403 | |||
Exercise of stock options | $ 18,988 | $ 18,988 | |||
Restricted stock activity (in shares) | 13 | ||||
Restricted stock activity | $ 707 | 707 | |||
Stock based compensation | $ 1,368 | 1,368 | |||
Stock awarded to employees (in shares) | 2 | ||||
Stock awarded to employees | $ 76 | 76 | |||
Retirement of common stock (in shares) | (6) | ||||
Retirement of common stock | $ (90) | (224) | (314) | ||
Dividends | (30,741) | (30,741) | |||
Balance (in shares) at Sep. 30, 2017 | 26,319 | ||||
Balance at Sep. 30, 2017 | $ 425,655 | $ 1,533 | $ (3,433) | $ 180,202 | $ 603,957 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | ||
Operating Activities: | |||
Net income | $ 45,865 | $ 44,400 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 18,807 | 14,211 | |
Reversal of Provision for Loan Losses | (1,900) | (3,200) | |
Net amortization of deferred loan cost (fees) | 34 | (281) | |
Decrease in interest income receivable | 713 | 475 | |
Life insurance premiums paid | (126) | (126) | |
Increase in other assets | (2,088) | (627) | |
Increase in income taxes payable | 2,461 | 403 | |
Decrease in net deferred tax asset | 895 | 3,258 | |
Tax benefit increase upon exercise and expiration of stock options | (199) | ||
Stock option compensation expense | 1,368 | 1,142 | |
Decrease in interest expense payable | (8) | (19) | |
(Decrease) increase in other liabilities | (1,142) | 143 | |
Net writedown of premises and equipment | 60 | 21 | |
Net gain on sale of foreclosed assets | (72) | (1,182) | |
Writedown of foreclosed assets | 219 | 759 | |
Net Cash Provided by Operating Activities | 65,086 | 59,178 | |
Investing Activities: | |||
Net repayments of loans | 69,319 | 171,573 | |
Net (payments) receipts under FDIC indemnification agreements | [1] | (63) | 3,180 |
Purchases of investment securities available for sale | (433,525) | (812,697) | |
Proceeds from sale/maturity/calls of securities available for sale | 238,888 | 632,795 | |
Purchases of investment securities held to maturity | (246,956) | ||
Proceeds from maturity/calls of securities held to maturity | 135,208 | 141,770 | |
Purchases of premises and equipment | (1,980) | (1,299) | |
Net change in FRB stock | [2] | 1 | |
Proceeds from sale of foreclosed assets | 1,521 | 7,143 | |
Net Cash Provided by (Used in) Investing Activities | 9,369 | (104,491) | |
Financing Activities: | |||
Net change in deposits | 29,839 | 104,211 | |
Net change in short-term borrowings | 7,259 | 3,330 | |
Exercise of stock options | 18,988 | 11,588 | |
Tax benefit increase upon exercise and expiration of stock options | 199 | ||
Retirement of common stock | (314) | (5,780) | |
Common stock dividends paid | (30,741) | (29,912) | |
Net Cash Provided by Financing Activities | 25,031 | 83,636 | |
Net Change In Cash and Due from Banks | 99,486 | 38,323 | |
Cash and Due from Banks at Beginning of Period | 462,271 | 433,044 | |
Cash and Due from Banks at End of Period | 561,757 | 471,367 | |
Supplemental disclosure of non cash activities: | |||
Loan collateral transferred to other real estate owned | 488 | ||
Securities purchases pending settlement | 811 | 171 | |
Supplemental disclosure of cash flow activities: | |||
Interest paid for the period | 1,437 | 1,635 | |
Income tax payments for the period | $ 14,657 | $ 14,032 | |
[1] | Federal Deposit Insurance Corporation ("FDIC") | ||
[2] | Federal Reserve Bank ("FRB") |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1: The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission and follow general practices within the banking industry. The results of operations reflect interim adjustments, all of which are of a normal recurring nature and which, in the opinion of Management, are necessary for a fair presentation of the results for the interim periods presented. The interim results for the three nine September 30, 2017 not 10 December 31, 2016. |
Note 2 - Accounting Policies
Note 2 - Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2: The most significant accounting policies followed by the Company are presented in Note 1 10 December 31, 2016. Application of these principles requires the Company to make certain estimates, assumptions, and judgments that affect the amounts reported in the financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. Certain accounting policies inherently have a greater reliance on the use of estimates, assumptions and judgments and as such have a greater possibility of producing results that could be materially different than originally reported. Estimates, assumptions and judgments are necessary when assets and liabilities are required to be recorded at fair value, when a decline in the value of an asset not third Recently Adopted Accounting Standards FASB Accounting Standards Update (ASU) 2016 09, Improvements to Employee Share-Based Payment Accounting, March 30, 2016. 1 2 3 January 1, 2017, first nine 2017, 403 1.6 first nine 2017 688 2016 09. Recently Issued Accounting Standards FASB ASU 2014 09 Revenue (Topic 606 May 2014. not 606 not Approximately 73% fourth 2017. The Company will be required to adopt the ASU on January 1, 2018. first 2018, not not FASB ASU 2016 01 Financial Instruments – Overall (Subtopic 825 10 January 2016. The Company will be required to adopt the ASU provisions on January 1, 2018, not FASB ASU 2016 02, Leases (Topic 842 February 25, 2016. January 1, 2019, December 31, 2016, 61 $20.8 not FASB ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 June 16, 2016. The Company will be required to adopt the ASU provisions on January 1, 2020. FASB ASU 2017 08 Receivables – Non-Refundable Fees and Other Costs (Subtopic 310 20 March 2017. not The Company will be required to adopt the ASU provisions on January 1, 2019. |
Note 3 - Investment Securities
Note 3 - Investment Securities | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3: 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 At September 30, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities of U.S. Government sponsored entities $ 122,280 $ 19 $ (1,840 ) $ 120,459 Agency residential mortgage-backed securities (MBS) 754,138 1,091 (16,011 ) 739,218 Non-agency residential MBS 164 1 - 165 Agency commercial MBS 1,916 - (14 ) 1,902 Securities of U.S. Government entities 1,783 - (14 ) 1,769 Obligations of states and political subdivisions 176,182 4,929 (1,610 ) 179,501 FHLMC (1) (2) 749 8,811 - 9,560 Corporate securities 1,037,173 2,943 (4,027 ) 1,036,089 Other securities 2,000 - (186 ) 1,814 Total $ 2,096,385 $ 17,794 $ (23,702 ) $ 2,090,477 ( 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 At September 30, 2017 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In thousands) Agency residential MBS $ 574,017 $ 949 $ (6,802 ) $ 568,164 Non-agency residential MBS 4,628 67 - 4,695 Agency commercial MBS 9,114 1 (82 ) 9,033 Obligations of states and political subdivisions 616,481 10,999 (1,093 ) 626,387 Total $ 1,204,240 $ 12,016 $ (7,977 ) $ 1,208,279 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 At December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities of U.S. Government sponsored entities $ 141,599 $ 35 $ (2,974 ) $ 138,660 Agency residential MBS 711,623 921 (21,045 ) 691,499 Non-agency residential MBS 272 - (1 ) 271 Securities of U.S. Government entities 2,041 - (16 ) 2,025 Obligations of states and political subdivisions 182,230 5,107 (3,926 ) 183,411 Asset-backed securities 696 - (1 ) 695 FHLMC (1) (2) 749 10,120 - 10,869 Corporate securities 866,835 1,690 (7,668 ) 860,857 Other securities 2,034 621 (184 ) 2,471 Total $ 1,908,079 $ 18,494 $ (35,815 ) $ 1,890,758 ( 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 At December 31, 2016 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In thousands) Securities of U.S. Government sponsored entities $ 581 $ 1 $ - $ 582 Agency residential MBS 668,235 1,122 (8,602 ) 660,755 Non-agency residential MBS 5,370 76 - 5,446 Agency commercial MBS 9,332 11 (143 ) 9,200 Obligations of states and political subdivisions 662,794 6,031 (4,067 ) 664,758 Total $ 1,346,312 $ 7,241 $ (12,812 ) $ 1,340,741 The amortized cost and fair value of investment securities by contractual maturity are shown in the following tables at the dates indicated: At September 30, 2017 Securities Available Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 208,391 $ 208,764 $ 37,548 $ 38,399 Over 1 to 5 years 861,895 860,966 278,240 281,577 Over 5 to 10 years 219,648 221,949 290,869 296,357 Over 10 years 45,701 44,370 9,824 10,054 Subtotal 1,335,635 1,336,049 616,481 626,387 MBS 758,001 743,054 587,759 581,892 Other securities 2,749 11,374 - - Total $ 2,096,385 $ 2,090,477 $ 1,204,240 $ 1,208,279 At December 31, 2016 Securities Available Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 154,693 $ 154,835 $ 14,961 $ 15,639 Over 1 to 5 years 750,834 745,219 292,024 292,062 Over 5 to 10 years 238,077 239,153 318,580 319,587 Over 10 years 47,756 44,416 37,810 38,052 Subtotal 1,191,360 1,183,623 663,375 665,340 MBS 713,936 693,795 682,937 675,401 Other securities 2,783 13,340 - - Total $ 1,908,079 $ 1,890,758 $ 1,346,312 $ 1,340,741 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 September 30, 2017 December 31, 2016, no An analysis of the gross unrealized losses of the available for sale investment securities portfolio follows: Investment Securities Available for Sale At September 30, 2017 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 6 $ 89,046 $ (1,169 ) 2 $ 29,328 $ (671 ) 8 $ 118,374 $ (1,840 ) Agency residential MBS 15 336,023 (8,283 ) 37 202,746 (7,728 ) 52 538,769 (16,011 ) Non-agency residential MBS 1 6 - - - - 1 6 - Agency commercial MBS 1 1,902 (14 ) - - - 1 1,902 (14 ) Securities of U.S. Government entities 1 896 (6 ) 2 873 (8 ) 3 1,769 (14 ) Obligations of states and political subdivisions 35 28,910 (592 ) 24 35,329 (1,018 ) 59 64,239 (1,610 ) Corporate securities 36 299,545 (1,672 ) 26 166,386 (2,355 ) 62 465,931 (4,027 ) Other securities - - - 1 1,814 (186 ) 1 1,814 (186 ) Total 95 $ 756,328 $ (11,736 ) 92 $ 436,476 $ (11,966 ) 187 $ 1,192,804 $ (23,702 ) An analysis of gross unrecognized losses of the held to maturity investment securities portfolio follows: Investment Securities Held to Maturity At September 30, 2017 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 64 $ 494,096 $ (6,320 ) 8 $ 19,092 $ (482 ) 72 $ 513,188 $ (6,802 ) Agency commercial MBS - - - 1 7,101 (82 ) 1 7,101 (82 ) Obligations of states and political subdivisions 42 40,023 (417 ) 26 27,693 (676 ) 68 67,716 (1,093 ) Total 106 $ 534,119 $ (6,737 ) 35 $ 53,886 $ (1,240 ) 141 $ 588,005 $ (7,977 ) 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 rating 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 not not not September 30, 2017. 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 As of September 30, 2017, $ 771,257 December 31, 2016, $768,845 An analysis of gross unrealized losses of investment securities available for sale follows: Investment Securities Available for Sale At December 31, 2016 No. of Less than 12 months No. of 12 months or longer No. of Total Investment Unrealized Investment Unrealized Investment Unrealized Positions Fair Value Losses Positions Fair Value Losses Positions Fair Value Losses ($ in thousands) Securities of U.S. Government sponsored entities 8 $ 117,227 $ (2,974 ) - $ - $ - 8 $ 117,227 $ (2,974 ) Agency residential MBS 21 524,269 (16,494 ) 28 122,901 (4,551 ) 49 647,170 (21,045 ) Non-agency residential MBS 2 246 (1 ) - - - 2 246 (1 ) Securities of U.S. Government entities 2 1,253 (9 ) 1 772 (7 ) 3 2,025 (16 ) Obligations of states and political subdivisions 43 57,989 (3,905 ) 3 1,117 (21 ) 46 59,106 (3,926 ) Asset-backed securities - - - 1 695 (1 ) 1 695 (1 ) Corporate securities 53 385,175 (6,551 ) 27 96,145 (1,117 ) 80 481,320 (7,668 ) Other securities - - - 1 1,816 (184 ) 1 1,816 (184 ) Total 129 $ 1,086,159 $ (29,934 ) 61 $ 223,446 $ (5,881 ) 190 $ 1,309,605 $ (35,815 ) An analysis of gross unrecognized losses of investment securities held to maturity follows: Investment Securities Held to Maturity At December 31, 2016 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 66 $ 569,876 $ (8,285 ) 3 $ 10,480 $ (317 ) 69 $ 580,356 $ (8,602 ) Agency commercial MBS - - - 1 7,214 (143 ) 1 7,214 (143 ) Obligations of states and political subdivisions 295 272,496 (3,710 ) 12 13,126 (357 ) 307 285,622 (4,067 ) Total 361 $ 842,372 $ (11,995 ) 16 $ 30,820 $ (817 ) 377 $ 873,192 $ (12,812 ) 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 Three Months For the Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Taxable $ 12,957 $ 11,024 $ 37,584 $ 31,256 Tax-exempt from regular federal income tax 5,106 5,476 15,718 16,682 Total interest income from investment securities $ 18,063 $ 16,500 $ 53,302 $ 47,938 |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4: A summary of the major categories of loans outstanding is shown in the following tables at the dates indicated. At September 30, 2017 At December 31, 2016 (In thousands) Commercial $ 316,891 $ 354,697 Commercial Real Estate 573,717 542,171 Construction 4,992 2,555 Residential Real Estate 69,124 87,724 Consumer Installment & Other 320,058 365,564 Total $ 1,284,782 $ 1,352,711 Total loans outstanding reported above include loans purchased from the FDIC of $ 90,708 $121,210 September 30, 2017 December 31, 2016, Changes in the accretable yield for purchased loans were as follows: For the For the Nine Months Ended Year Ended September 30, 2017 December 31, 2016 Accretable yield: (In thousands) Balance at the beginning of the period $ 1,237 $ 1,259 Reclassification from nonaccretable difference 1,504 3,912 Accretion (1,862 ) (3,934 ) Balance at the end of the period $ 879 $ 1,237 Accretion $ (1,862 ) $ (3,934 ) Change in FDIC indemnification 192 1,053 (Increase) in interest income $ (1,670 ) $ (2,881 ) The following summarizes activity in the allowance for loan losses: Allowance for Loan Losses For the Three Months Ended September 30, 2017 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 8,167 $ 3,545 $ 160 $ 1,105 $ 7,215 $ 3,911 $ 24,103 Additions: (Reversal) provision (391 ) 288 136 (50 ) 167 (150 ) - Deductions: Chargeoffs (132 ) - - - (886 ) - (1,018 ) Recoveries 128 - - - 415 - 543 Net loan losses (4 ) - - - (471 ) - (475 ) Total allowance for loan losses $ 7,772 $ 3,833 $ 296 $ 1,055 $ 6,911 $ 3,761 $ 23,628 Allowance for Loan Losses For the Nine Months Ended September 30, 2017 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 8,327 $ 3,330 $ 152 $ 1,330 $ 7,980 $ 4,835 $ 25,954 Additions: (Reversal) provision (220 ) 415 (1,755 ) (275 ) 1,009 (1,074 ) (1,900 ) Deductions: Chargeoffs (961 ) - - - (3,783 ) - (4,744 ) Recoveries 626 88 1,899 - 1,705 - 4,318 Net loan (losses) recoveries (335 ) 88 1,899 - (2,078 ) - (426 ) Total allowance for loan losses $ 7,772 $ 3,833 $ 296 $ 1,055 $ 6,911 $ 3,761 $ 23,628 Allowance for Loan Losses For the Three Months Ended September 30, 2016 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 10,402 $ 3,912 $ 167 $ 1,636 $ 7,651 $ 5,142 $ 28,910 Additions: (Reversal) provision (3,642 ) (822 ) (22 ) (193 ) 1,777 (298 ) (3,200 ) Deductions: Chargeoffs (88 ) - - - (1,848 ) - (1,936 ) Recoveries 1,739 509 - - 337 - 2,585 Net loan recoveries (losses) 1,651 509 - - (1,511 ) - 649 Total allowance for loan losses $ 8,411 $ 3,599 $ 145 $ 1,443 $ 7,917 $ 4,844 $ 26,359 Allowance for Loan Losses For the Nine Months Ended September 30, 2016 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 9,559 $ 4,212 $ 235 $ 1,801 $ 8,001 $ 5,963 $ 29,771 Additions: (Reversal) provision (2,827 ) (1,152 ) (90 ) (358 ) 2,346 (1,119 ) (3,200 ) Deductions: Chargeoffs (2,024 ) - - - (3,568 ) - (5,592 ) Recoveries 3,703 539 - - 1,138 - 5,380 Net loan recoveries (losses) 1,679 539 - - (2,430 ) - (212 ) Total allowance for loan losses $ 8,411 $ 3,599 $ 145 $ 1,443 $ 7,917 $ 4,844 $ 26,359 The allowance for loan losses and recorded investment in loans evaluated for impairment were as follows: Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At September 30, 2017 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 4,922 $ 154 $ - $ - $ - $ - $ 5,076 Collectively evaluated for impairment 2,850 3,679 296 1,055 6,911 3,761 18,552 Purchased loans with evidence of credit deterioration - - - - - - - Total $ 7,772 $ 3,833 $ 296 $ 1,055 $ 6,911 $ 3,761 $ 23,628 Carrying value of loans: Individually evaluated for impairment $ 10,749 $ 13,973 $ - $ 211 $ - $ - $ 24,933 Collectively evaluated for impairment 306,113 559,182 4,992 68,913 319,889 - 1,259,089 Purchased loans with evidence of credit deterioration 29 562 - - 169 - 760 Total $ 316,891 $ 573,717 $ 4,992 $ 69,124 $ 320,058 $ - $ 1,284,782 Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At December 31, 2016 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 5,048 $ - $ - $ - $ - $ - $ 5,048 Collectively evaluated for impairment 3,279 3,330 152 1,330 7,980 4,835 20,906 Purchased loans with evidence of credit deterioration - - - - - - - Total $ 8,327 $ 3,330 $ 152 $ 1,330 $ 7,980 $ 4,835 $ 25,954 Carrying value of loans: Individually evaluated for impairment $ 11,174 $ 12,706 $ - $ 835 $ - $ - $ 24,715 Collectively evaluated for impairment 343,494 528,957 2,555 86,889 365,236 - 1,327,131 Purchased loans with evidence of credit deterioration 29 508 - - 328 - 865 Total $ 354,697 $ 542,171 $ 2,555 $ 87,724 $ 365,564 $ - $ 1,352,711 The Bank’s customers are small businesses, professionals and consumers. Given the scale of these borrowers, corporate credit rating agencies do not The following summarizes the credit risk profile by internally assigned grade: Credit Risk Profile by Internally Assigned Grade Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 304,710 $ 551,222 $ 4,992 $ 66,164 $ 317,933 $ 1,245,021 Substandard 12,181 22,495 - 2,960 1,603 39,239 Doubtful - - - - 6 6 Loss - - - - 516 516 Total $ 316,891 $ 573,717 $ 4,992 $ 69,124 $ 320,058 $ 1,284,782 Credit risk profile reflects internally assigned grade of purchased covered loans without regard to FDIC indemnification. Credit Risk Profile by Internally Assigned Grade At December 31, 2016 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 340,973 $ 515,045 $ 2,555 $ 84,384 $ 362,597 $ 1,305,554 Substandard 13,724 25,830 - 3,340 2,477 45,371 Doubtful - 1,296 - - 10 1,306 Loss - - - - 480 480 Total $ 354,697 $ 542,171 $ 2,555 $ 87,724 $ 365,564 $ 1,352,711 Credit risk profile reflects internally assigned grade of purchased covered loans without regard to FDIC indemnification. The following tables summarize loans by delinquency and nonaccrual status: Summary of Loans by Delinquency and Nonaccrual Status At September 30, 2017 Current and Accruing 30-59 Days 60-89 Days Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 316,150 $ 404 $ 66 $ - $ 271 $ 316,891 Commercial real estate 565,377 2,820 8 - 5,512 573,717 Construction 4,992 - - - - 4,992 Residential real estate 69,124 - - - - 69,124 Consumer installment and other 315,520 3,351 753 434 - 320,058 Total $ 1,271,163 $ 6,575 $ 827 $ 434 $ 5,783 $ 1,284,782 Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2016 Current and Accruing 30-59 Days 60-89 Days Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 353,497 $ 966 $ 40 $ - $ 194 $ 354,697 Commercial real estate 533,377 1,460 445 - 6,889 542,171 Construction 2,329 226 - - - 2,555 Residential real estate 86,098 528 37 - 1,061 87,724 Consumer installment and other 360,549 3,288 989 497 241 365,564 Total $ 1,335,850 $ 6,468 $ 1,511 $ 497 $ 8,385 $ 1,352,711 There were no September 30, 2017 December 31, 2016. The following summarizes impaired loans: Impaired Loans Impaired Loans At September 30, 2017 At December 31, 2016 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) (In thousands) With no related allowance recorded: Commercial $ 1,246 $ 1,308 $ - $ 1,234 $ 1,303 $ - Commercial real estate 12,726 14,817 - 13,233 15,610 - Residential real estate 211 241 - 1,279 1,309 - Consumer installment and other 169 276 - 569 675 - Total with no related allowance recorded 14,352 16,642 - 16,315 18,897 - With an allowance recorded: Commercial 9,803 9,803 4,922 10,163 10,172 5,048 Commercial real estate 1,809 1,811 154 - - - Total with an allowance recorded 11,612 11,614 5,076 10,163 10,172 5,048 Total $ 25,964 $ 28,256 $ 5,076 $ 26,478 $ 29,069 $ 5,048 Impaired loans include troubled debt restructured loans. Impaired loans at September 30, 2017, 12,365 5,044 December 31, 2016, $12,381 $5,302 Impaired Loans For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Average Recognized Average Recognized Average Recognized Average Recognized Recorded Interest Recorded Interest Recorded Interest Recorded Interest Investment Income Investment Income Investment Income Investment Income (In thousands) Commercial $ 11,125 $ 130 $ 12,858 $ 126 $ 11,203 $ 366 $ 13,454 $ 394 Commercial real estate 14,681 208 14,486 188 14,826 669 17,991 549 Construction - - - - - - 136 - Residential real estate 365 4 530 4 494 13 693 13 Consumer installment and other 340 3 545 6 466 17 435 18 Total $ 26,511 $ 345 $ 28,419 $ 324 $ 26,989 $ 1,065 $ 32,709 $ 974 The following table provides information on troubled debt restructurings: Troubled Debt Restructurings At September 30, 2017 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 7 $ 2,393 $ 1,140 $ 49 Commercial real estate 11 11,847 11,014 - Residential real estate 1 241 211 - Total 19 $ 14,481 $ 12,365 $ 49 Troubled Debt Restructurings At December 31, 2016 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 7 $ 2,719 $ 1,489 $ 113 Commercial real estate 10 11,257 10,673 - Residential real estate 1 241 219 - Total 18 $ 14,217 $ 12,381 $ 113 During the three nine September 30, 2017, one 50 four 699 four first nine 2017 payment terms to extend the maturity date to allow for deferred principal repayment and under-market terms. three nine September 30, 2016, zero four $4,843 four first nine 2016 three one During the three nine September 30, 2017, one $58 no three nine September 30, 2016. three nine September 30, 2017 2016, no 12 ninety There were no September 30, 2017 December 31, 2016. There were no September 30, 2017 December 31, 2016. At September 30, 2017 December 31, 2016, 1,426 1,905 $3,095 $1,816 0 no September 30, 2017 December 31, 2016. |
Note 5 - Concentration of Credi
Note 5 - Concentration of Credit Risk | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | Note 5: Under the California Financial Code, credit extended to any one one not not 15 not 25 September 30, 2017, not one September 30, 2017, 38 $5 4, 58,046 $57,721 September 30, 2017 December 31, 2016, no 75% no 80% September 30, 2017, 66 $5 |
Note 6 - Other Assets
Note 6 - Other Assets | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | Note 6: Other assets consisted of the following: At September 30, 2017 At December 31, 2016 (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,068 $ 14,069 Other investments 159 201 Total cost method equity investments 14,227 14,270 Life insurance cash surrender value 53,459 51,535 Net deferred tax asset 49,514 55,417 Limited partnership investments 11,241 12,591 Interest receivable 20,776 21,489 Prepaid assets 3,969 4,825 Other assets 11,783 11,597 Total other assets $ 164,969 $ 171,724 ( 1 six 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 September 30, 2017, 11,241 2,299 December 31, 2016, $12,591 $2,299 September 30, 2017, 2,299 $722 2020, $131 2023, $90 2024 $1,356 2025 The amounts recognized in net income for these investments include: For the Three Months Ended For the Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Investment loss included in pre-tax income $ 450 $ 675 $ 1,350 $ 2,025 Tax credits recognized in provision for income taxes 463 562 1,388 1,723 |
Note 7 - Goodwill and Identifia
Note 7 - Goodwill and Identifiable Intangible Assets | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7: The Company has recorded goodwill and other identifiable intangibles associated with purchase business combinations. Goodwill is not not three nine September 30, 2017 December 31, 2016. three nine September 30, 2017 December 31, 2016, no The carrying values of goodwill were: At September 30, 2017 At December 31, 2016 (In thousands) Goodwill $ 121,673 $ 121,673 The gross carrying amount of identifiable intangible assets and accumulated amortization was: At September 30, 2017 At December 31, 2016 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core Deposit Intangibles $ 56,808 $ (52,271 ) $ 56,808 $ (50,074 ) Merchant Draft Processing Intangible 10,300 (10,232 ) 10,300 (10,107 ) Total Identifiable Intangible Assets $ 67,108 $ (62,503 ) $ 67,108 $ (60,181 ) As of September 30, 2017, Merchant Core Draft Deposit Processing Intangibles Intangible Total (In thousands) For the Nine Months ended September 30, 2017 (actual) $ 2,197 $ 125 $ 2,322 Estimate for the remainder of year ending December 31, 2017 716 39 755 Estimate for year ending December 31, 2018 1,892 29 1,921 2019 538 - 538 2020 287 - 287 2021 269 - 269 2022 252 - 252 |
Note 8 - Deposits and Borrowed
Note 8 - Deposits and Borrowed Funds | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Deposits and Borrowed Funds [Text Block] | Note 8: The following table provides additional detail regarding deposits. Deposits At September 30, 2017 At December 31, 2016 (In thousands) Noninterest-bearing $ 2,128,342 $ 2,089,443 Interest-bearing: Transaction 873,145 865,701 Savings 1,491,168 1,493,427 Time deposits less than $100 thousand 124,252 133,712 Time deposits $100 thousand through $250 thousand 79,614 84,925 Time deposits more than $250 thousand 38,059 37,533 Total deposits $ 4,734,580 $ 4,704,741 Demand deposit overdrafts of $ 1,179 $2,679 September 30, 2017 December 31, 2016, $100 103 314 three nine September 30, 2017, $124 $395 three nine September 30, 2016, The following table provides additional detail regarding short-term borrowed funds. Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At September 30, 2017 At December 31, 2016 Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ 74,852 $ 74,031 Agency residential MBS 60,023 63,277 Corporate securities 105,698 90,554 Total collateral carrying value $ 240,573 $ 227,862 Total short-term borrowed funds $ 66,337 $ 59,078 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 9: 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 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 1 1 Level 2 not 2 Level 3 not 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 95 may not 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 3. may For the nine September 30, 2017 December 31, 2016, no 1, 2 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 September 30, 2017 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 $ 120,459 $ - $ 120,459 $ - Agency residential MBS 739,218 - 739,218 - Non-agency residential MBS 165 - 165 - Agency commercial MBS 1,902 - 1,902 - Securities of U.S. Government entities 1,769 - 1,769 - Obligations of states and political subdivisions 179,501 - 179,501 - FHLMC and FNMA stock 9,560 13 9,547 - Corporate securities 1,036,089 - 1,036,089 - Other securities 1,814 - 1,814 - Total securities available for sale $ 2,090,477 $ 13 $ 2,090,464 $ - At December 31, 2016 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 $ 138,660 $ - $ 138,660 $ - Agency residential MBS 691,499 - 691,499 - Non-agency residential MBS 271 - 271 - Securities of U.S. Government entities 2,025 - 2,025 - Obligations of states and political subdivisions 183,411 - 183,411 - Asset-backed securities 695 - 695 - FHLMC and FNMA stock 10,869 17 10,852 - Corporate securities 860,857 - 860,857 - Other securities 2,471 656 1,815 - Total securities available for sale $ 1,890,758 $ 673 $ 1,890,085 $ - Assets Recorded at Fair Value on a Nonrecurring Basis The Company may September 30, 2017 December 31, 2016, For the Nine Months Ended At September 30, 2017 September 30, 2017 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 1,426 $ - $ - $ 1,426 $ (219 ) Impaired loans 10,821 - - 10,821 - Total assets measured at fair value on a nonrecurring basis $ 12,247 $ - $ - $ 12,247 $ (219 ) For the Year Ended At December 31, 2016 December 31, 2016 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 3,095 $ - $ - $ 3,095 $ (705 ) Impaired loans 9,525 - - 9,525 - Total assets measured at fair value on a nonrecurring basis $ 12,620 $ - $ - $ 12,620 $ (705 ) Level 3 third 10% 3 not not 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 Cash and Due from Banks Investment Securities Held to Maturity 2 Loans two 23,628 September 30, 2017 $25,954 December 31, 2016 not Deposit Liabilities no no Short-Term Borrowed Funds 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 may not may The Company has not not not not At September 30, 2017 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 $ 561,757 $ 561,757 $ 561,757 $ - $ - Investment securities held to maturity 1,204,240 1,208,279 - 1,208,279 - Loans 1,261,154 1,264,503 - - 1,264,503 Financial Liabilities: Deposits $ 4,734,580 $ 4,731,990 $ - $ 4,492,655 $ 239,335 Short-term borrowed funds 66,337 66,337 - 66,337 - At December 31, 2016 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 $ 462,271 $ 462,271 $ 462,271 $ - $ - Investment securities held to maturity 1,346,312 1,340,741 - 1,340,741 - Loans 1,326,757 1,337,774 - - 1,337,774 Financial Liabilities: Deposits $ 4,704,741 $ 4,702,797 $ - $ 4,448,571 $ 254,226 Short-term borrowed funds 59,078 59,078 - 59,078 - 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 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 10: Loan commitments are agreements to lend to a customer provided there is no not 307,269 $304,508 September 30, 2017 December 31, 2016, 19,956 $21,732 September 30, 2017 December 31, 2016, no September 30, 2017 December 31, 2016. 2,308 September 30, 2017 $2,408 December 31, 2016, 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 The Company has determined that it will be obligated to provide refunds of revenue recognized in prior years to some customers. The Company is not not The October 2017 not Management has performed an initial evaluation of loss exposure caused by the wildfires within the Company's loan portfolio and investment portfolio; Management has not not |
Note 11 - Earnings Per Common S
Note 11 - Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 11: 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 Three Months For the Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 15,017 $ 15,628 $ 45,865 $ 44,400 Basic earnings per common share Weighted average number of common shares outstanding - basic 26,309 25,641 26,260 25,558 Basic earnings per common share $ 0.57 $ 0.61 $ 1.75 $ 1.74 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,309 25,641 26,260 25,558 Add common stock equivalents for options 95 46 119 37 Weighted average number of common shares outstanding - diluted 26,404 25,687 26,379 25,595 Diluted earnings per common share $ 0.57 $ 0.61 $ 1.74 $ 1.73 For the three nine September 30, 2017, 376 343 not For the three nine September 30, 2016, 771 948 not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards FASB Accounting Standards Update (ASU) 2016 09, Improvements to Employee Share-Based Payment Accounting, March 30, 2016. 1 2 3 January 1, 2017, first nine 2017, 403 1.6 first nine 2017 688 2016 09. Recently Issued Accounting Standards FASB ASU 2014 09 Revenue (Topic 606 May 2014. not 606 not Approximately 73% fourth 2017. The Company will be required to adopt the ASU on January 1, 2018. first 2018, not not FASB ASU 2016 01 Financial Instruments – Overall (Subtopic 825 10 January 2016. The Company will be required to adopt the ASU provisions on January 1, 2018, not FASB ASU 2016 02, Leases (Topic 842 February 25, 2016. January 1, 2019, December 31, 2016, 61 $20.8 not FASB ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 June 16, 2016. The Company will be required to adopt the ASU provisions on January 1, 2020. FASB ASU 2017 08 Receivables – Non-Refundable Fees and Other Costs (Subtopic 310 20 March 2017. not The Company will be required to adopt the ASU provisions on January 1, 2019. |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Investment Securities Available for Sale At September 30, 2017 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities of U.S. Government sponsored entities $ 122,280 $ 19 $ (1,840 ) $ 120,459 Agency residential mortgage-backed securities (MBS) 754,138 1,091 (16,011 ) 739,218 Non-agency residential MBS 164 1 - 165 Agency commercial MBS 1,916 - (14 ) 1,902 Securities of U.S. Government entities 1,783 - (14 ) 1,769 Obligations of states and political subdivisions 176,182 4,929 (1,610 ) 179,501 FHLMC (1) (2) 749 8,811 - 9,560 Corporate securities 1,037,173 2,943 (4,027 ) 1,036,089 Other securities 2,000 - (186 ) 1,814 Total $ 2,096,385 $ 17,794 $ (23,702 ) $ 2,090,477 Investment Securities Available for Sale At December 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Securities of U.S. Government sponsored entities $ 141,599 $ 35 $ (2,974 ) $ 138,660 Agency residential MBS 711,623 921 (21,045 ) 691,499 Non-agency residential MBS 272 - (1 ) 271 Securities of U.S. Government entities 2,041 - (16 ) 2,025 Obligations of states and political subdivisions 182,230 5,107 (3,926 ) 183,411 Asset-backed securities 696 - (1 ) 695 FHLMC (1) (2) 749 10,120 - 10,869 Corporate securities 866,835 1,690 (7,668 ) 860,857 Other securities 2,034 621 (184 ) 2,471 Total $ 1,908,079 $ 18,494 $ (35,815 ) $ 1,890,758 |
Held-to-maturity Securities [Table Text Block] | Investment Securities Held to Maturity At September 30, 2017 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In thousands) Agency residential MBS $ 574,017 $ 949 $ (6,802 ) $ 568,164 Non-agency residential MBS 4,628 67 - 4,695 Agency commercial MBS 9,114 1 (82 ) 9,033 Obligations of states and political subdivisions 616,481 10,999 (1,093 ) 626,387 Total $ 1,204,240 $ 12,016 $ (7,977 ) $ 1,208,279 Investment Securities Held to Maturity At December 31, 2016 Gross Gross Amortized Unrecognized Unrecognized Fair Cost Gains Losses Value (In thousands) Securities of U.S. Government sponsored entities $ 581 $ 1 $ - $ 582 Agency residential MBS 668,235 1,122 (8,602 ) 660,755 Non-agency residential MBS 5,370 76 - 5,446 Agency commercial MBS 9,332 11 (143 ) 9,200 Obligations of states and political subdivisions 662,794 6,031 (4,067 ) 664,758 Total $ 1,346,312 $ 7,241 $ (12,812 ) $ 1,340,741 |
Investments Classified by Contractual Maturity Date [Table Text Block] | At September 30, 2017 Securities Available Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 208,391 $ 208,764 $ 37,548 $ 38,399 Over 1 to 5 years 861,895 860,966 278,240 281,577 Over 5 to 10 years 219,648 221,949 290,869 296,357 Over 10 years 45,701 44,370 9,824 10,054 Subtotal 1,335,635 1,336,049 616,481 626,387 MBS 758,001 743,054 587,759 581,892 Other securities 2,749 11,374 - - Total $ 2,096,385 $ 2,090,477 $ 1,204,240 $ 1,208,279 At December 31, 2016 Securities Available Securities Held for Sale to Maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Maturity in years: 1 year or less $ 154,693 $ 154,835 $ 14,961 $ 15,639 Over 1 to 5 years 750,834 745,219 292,024 292,062 Over 5 to 10 years 238,077 239,153 318,580 319,587 Over 10 years 47,756 44,416 37,810 38,052 Subtotal 1,191,360 1,183,623 663,375 665,340 MBS 713,936 693,795 682,937 675,401 Other securities 2,783 13,340 - - Total $ 1,908,079 $ 1,890,758 $ 1,346,312 $ 1,340,741 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Investment Securities Available for Sale At September 30, 2017 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 6 $ 89,046 $ (1,169 ) 2 $ 29,328 $ (671 ) 8 $ 118,374 $ (1,840 ) Agency residential MBS 15 336,023 (8,283 ) 37 202,746 (7,728 ) 52 538,769 (16,011 ) Non-agency residential MBS 1 6 - - - - 1 6 - Agency commercial MBS 1 1,902 (14 ) - - - 1 1,902 (14 ) Securities of U.S. Government entities 1 896 (6 ) 2 873 (8 ) 3 1,769 (14 ) Obligations of states and political subdivisions 35 28,910 (592 ) 24 35,329 (1,018 ) 59 64,239 (1,610 ) Corporate securities 36 299,545 (1,672 ) 26 166,386 (2,355 ) 62 465,931 (4,027 ) Other securities - - - 1 1,814 (186 ) 1 1,814 (186 ) Total 95 $ 756,328 $ (11,736 ) 92 $ 436,476 $ (11,966 ) 187 $ 1,192,804 $ (23,702 ) Investment Securities Held to Maturity At September 30, 2017 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 64 $ 494,096 $ (6,320 ) 8 $ 19,092 $ (482 ) 72 $ 513,188 $ (6,802 ) Agency commercial MBS - - - 1 7,101 (82 ) 1 7,101 (82 ) Obligations of states and political subdivisions 42 40,023 (417 ) 26 27,693 (676 ) 68 67,716 (1,093 ) Total 106 $ 534,119 $ (6,737 ) 35 $ 53,886 $ (1,240 ) 141 $ 588,005 $ (7,977 ) Investment Securities Available for Sale At December 31, 2016 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 $ 117,227 $ (2,974 ) - $ - $ - 8 $ 117,227 $ (2,974 ) Agency residential MBS 21 524,269 (16,494 ) 28 122,901 (4,551 ) 49 647,170 (21,045 ) Non-agency residential MBS 2 246 (1 ) - - - 2 246 (1 ) Securities of U.S. Government entities 2 1,253 (9 ) 1 772 (7 ) 3 2,025 (16 ) Obligations of states and political subdivisions 43 57,989 (3,905 ) 3 1,117 (21 ) 46 59,106 (3,926 ) Asset-backed securities - - - 1 695 (1 ) 1 695 (1 ) Corporate securities 53 385,175 (6,551 ) 27 96,145 (1,117 ) 80 481,320 (7,668 ) Other securities - - - 1 1,816 (184 ) 1 1,816 (184 ) Total 129 $ 1,086,159 $ (29,934 ) 61 $ 223,446 $ (5,881 ) 190 $ 1,309,605 $ (35,815 ) Investment Securities Held to Maturity At December 31, 2016 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 66 $ 569,876 $ (8,285 ) 3 $ 10,480 $ (317 ) 69 $ 580,356 $ (8,602 ) Agency commercial MBS - - - 1 7,214 (143 ) 1 7,214 (143 ) Obligations of states and political subdivisions 295 272,496 (3,710 ) 12 13,126 (357 ) 307 285,622 (4,067 ) Total 361 $ 842,372 $ (11,995 ) 16 $ 30,820 $ (817 ) 377 $ 873,192 $ (12,812 ) |
Interest Income from Investments [Table Text Block] | For the Three Months For the Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Taxable $ 12,957 $ 11,024 $ 37,584 $ 31,256 Tax-exempt from regular federal income tax 5,106 5,476 15,718 16,682 Total interest income from investment securities $ 18,063 $ 16,500 $ 53,302 $ 47,938 |
Note 4 - Loans and Allowance 21
Note 4 - Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Loans Receivable [Table Text Block] | At September 30, 2017 At December 31, 2016 (In thousands) Commercial $ 316,891 $ 354,697 Commercial Real Estate 573,717 542,171 Construction 4,992 2,555 Residential Real Estate 69,124 87,724 Consumer Installment & Other 320,058 365,564 Total $ 1,284,782 $ 1,352,711 |
Accretable Yield Reconciliation Schedule [Table Text Block] | For the For the Nine Months Ended Year Ended September 30, 2017 December 31, 2016 Accretable yield: (In thousands) Balance at the beginning of the period $ 1,237 $ 1,259 Reclassification from nonaccretable difference 1,504 3,912 Accretion (1,862 ) (3,934 ) Balance at the end of the period $ 879 $ 1,237 Accretion $ (1,862 ) $ (3,934 ) Change in FDIC indemnification 192 1,053 (Increase) in interest income $ (1,670 ) $ (2,881 ) |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] | Allowance for Loan Losses For the Three Months Ended September 30, 2017 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 8,167 $ 3,545 $ 160 $ 1,105 $ 7,215 $ 3,911 $ 24,103 Additions: (Reversal) provision (391 ) 288 136 (50 ) 167 (150 ) - Deductions: Chargeoffs (132 ) - - - (886 ) - (1,018 ) Recoveries 128 - - - 415 - 543 Net loan losses (4 ) - - - (471 ) - (475 ) Total allowance for loan losses $ 7,772 $ 3,833 $ 296 $ 1,055 $ 6,911 $ 3,761 $ 23,628 Allowance for Loan Losses For the Nine Months Ended September 30, 2017 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 8,327 $ 3,330 $ 152 $ 1,330 $ 7,980 $ 4,835 $ 25,954 Additions: (Reversal) provision (220 ) 415 (1,755 ) (275 ) 1,009 (1,074 ) (1,900 ) Deductions: Chargeoffs (961 ) - - - (3,783 ) - (4,744 ) Recoveries 626 88 1,899 - 1,705 - 4,318 Net loan (losses) recoveries (335 ) 88 1,899 - (2,078 ) - (426 ) Total allowance for loan losses $ 7,772 $ 3,833 $ 296 $ 1,055 $ 6,911 $ 3,761 $ 23,628 Allowance for Loan Losses For the Three Months Ended September 30, 2016 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 10,402 $ 3,912 $ 167 $ 1,636 $ 7,651 $ 5,142 $ 28,910 Additions: (Reversal) provision (3,642 ) (822 ) (22 ) (193 ) 1,777 (298 ) (3,200 ) Deductions: Chargeoffs (88 ) - - - (1,848 ) - (1,936 ) Recoveries 1,739 509 - - 337 - 2,585 Net loan recoveries (losses) 1,651 509 - - (1,511 ) - 649 Total allowance for loan losses $ 8,411 $ 3,599 $ 145 $ 1,443 $ 7,917 $ 4,844 $ 26,359 Allowance for Loan Losses For the Nine Months Ended September 30, 2016 Consumer Commercial Residential Installment Commercial Real Estate Construction Real Estate and Other Unallocated Total (In thousands) Allowance for loan losses: Balance at beginning of period $ 9,559 $ 4,212 $ 235 $ 1,801 $ 8,001 $ 5,963 $ 29,771 Additions: (Reversal) provision (2,827 ) (1,152 ) (90 ) (358 ) 2,346 (1,119 ) (3,200 ) Deductions: Chargeoffs (2,024 ) - - - (3,568 ) - (5,592 ) Recoveries 3,703 539 - - 1,138 - 5,380 Net loan recoveries (losses) 1,679 539 - - (2,430 ) - (212 ) Total allowance for loan losses $ 8,411 $ 3,599 $ 145 $ 1,443 $ 7,917 $ 4,844 $ 26,359 |
Schedule of Recorded Investment in Loans Evaluated for Impairment [Table Text Block] | Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At September 30, 2017 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 4,922 $ 154 $ - $ - $ - $ - $ 5,076 Collectively evaluated for impairment 2,850 3,679 296 1,055 6,911 3,761 18,552 Purchased loans with evidence of credit deterioration - - - - - - - Total $ 7,772 $ 3,833 $ 296 $ 1,055 $ 6,911 $ 3,761 $ 23,628 Carrying value of loans: Individually evaluated for impairment $ 10,749 $ 13,973 $ - $ 211 $ - $ - $ 24,933 Collectively evaluated for impairment 306,113 559,182 4,992 68,913 319,889 - 1,259,089 Purchased loans with evidence of credit deterioration 29 562 - - 169 - 760 Total $ 316,891 $ 573,717 $ 4,992 $ 69,124 $ 320,058 $ - $ 1,284,782 Allowance for Loan Losses and Recorded Investment in Loans Evaluated for Impairment At December 31, 2016 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Unallocated Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ 5,048 $ - $ - $ - $ - $ - $ 5,048 Collectively evaluated for impairment 3,279 3,330 152 1,330 7,980 4,835 20,906 Purchased loans with evidence of credit deterioration - - - - - - - Total $ 8,327 $ 3,330 $ 152 $ 1,330 $ 7,980 $ 4,835 $ 25,954 Carrying value of loans: Individually evaluated for impairment $ 11,174 $ 12,706 $ - $ 835 $ - $ - $ 24,715 Collectively evaluated for impairment 343,494 528,957 2,555 86,889 365,236 - 1,327,131 Purchased loans with evidence of credit deterioration 29 508 - - 328 - 865 Total $ 354,697 $ 542,171 $ 2,555 $ 87,724 $ 365,564 $ - $ 1,352,711 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Risk Profile by Internally Assigned Grade Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 304,710 $ 551,222 $ 4,992 $ 66,164 $ 317,933 $ 1,245,021 Substandard 12,181 22,495 - 2,960 1,603 39,239 Doubtful - - - - 6 6 Loss - - - - 516 516 Total $ 316,891 $ 573,717 $ 4,992 $ 69,124 $ 320,058 $ 1,284,782 Credit Risk Profile by Internally Assigned Grade At December 31, 2016 Commercial Commercial Real Estate Construction Residential Real Estate Consumer Installment and Other Total (In thousands) Grade: Pass $ 340,973 $ 515,045 $ 2,555 $ 84,384 $ 362,597 $ 1,305,554 Substandard 13,724 25,830 - 3,340 2,477 45,371 Doubtful - 1,296 - - 10 1,306 Loss - - - - 480 480 Total $ 354,697 $ 542,171 $ 2,555 $ 87,724 $ 365,564 $ 1,352,711 |
Past Due Financing Receivables [Table Text Block] | Summary of Loans by Delinquency and Nonaccrual Status At September 30, 2017 Current and Accruing 30-59 Days 60-89 Days Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 316,150 $ 404 $ 66 $ - $ 271 $ 316,891 Commercial real estate 565,377 2,820 8 - 5,512 573,717 Construction 4,992 - - - - 4,992 Residential real estate 69,124 - - - - 69,124 Consumer installment and other 315,520 3,351 753 434 - 320,058 Total $ 1,271,163 $ 6,575 $ 827 $ 434 $ 5,783 $ 1,284,782 Summary of Loans by Delinquency and Nonaccrual Status At December 31, 2016 Current and Accruing 30-59 Days 60-89 Days Past Due 90 Days or More and Accruing Nonaccrual Total Loans (In thousands) Commercial $ 353,497 $ 966 $ 40 $ - $ 194 $ 354,697 Commercial real estate 533,377 1,460 445 - 6,889 542,171 Construction 2,329 226 - - - 2,555 Residential real estate 86,098 528 37 - 1,061 87,724 Consumer installment and other 360,549 3,288 989 497 241 365,564 Total $ 1,335,850 $ 6,468 $ 1,511 $ 497 $ 8,385 $ 1,352,711 |
Impaired Financing Receivables [Table Text Block] | Impaired Loans Impaired Loans At September 30, 2017 At December 31, 2016 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) (In thousands) With no related allowance recorded: Commercial $ 1,246 $ 1,308 $ - $ 1,234 $ 1,303 $ - Commercial real estate 12,726 14,817 - 13,233 15,610 - Residential real estate 211 241 - 1,279 1,309 - Consumer installment and other 169 276 - 569 675 - Total with no related allowance recorded 14,352 16,642 - 16,315 18,897 - With an allowance recorded: Commercial 9,803 9,803 4,922 10,163 10,172 5,048 Commercial real estate 1,809 1,811 154 - - - Total with an allowance recorded 11,612 11,614 5,076 10,163 10,172 5,048 Total $ 25,964 $ 28,256 $ 5,076 $ 26,478 $ 29,069 $ 5,048 |
Impaired Financing Receivables Supplemental Schedule [Table Text Block] | Impaired Loans For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Average Recognized Average Recognized Average Recognized Average Recognized Recorded Interest Recorded Interest Recorded Interest Recorded Interest Investment Income Investment Income Investment Income Investment Income (In thousands) Commercial $ 11,125 $ 130 $ 12,858 $ 126 $ 11,203 $ 366 $ 13,454 $ 394 Commercial real estate 14,681 208 14,486 188 14,826 669 17,991 549 Construction - - - - - - 136 - Residential real estate 365 4 530 4 494 13 693 13 Consumer installment and other 340 3 545 6 466 17 435 18 Total $ 26,511 $ 345 $ 28,419 $ 324 $ 26,989 $ 1,065 $ 32,709 $ 974 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Troubled Debt Restructurings At September 30, 2017 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 7 $ 2,393 $ 1,140 $ 49 Commercial real estate 11 11,847 11,014 - Residential real estate 1 241 211 - Total 19 $ 14,481 $ 12,365 $ 49 Troubled Debt Restructurings At December 31, 2016 Period-End Individual Number of Pre-Modification Period-End Impairment Contracts Carrying Value Carrying Value Allowance ($ in thousands) Commercial 7 $ 2,719 $ 1,489 $ 113 Commercial real estate 10 11,257 10,673 - Residential real estate 1 241 219 - Total 18 $ 14,217 $ 12,381 $ 113 |
Note 6 - Other Assets (Tables)
Note 6 - Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | At September 30, 2017 At December 31, 2016 (In thousands) Cost method equity investments: Federal Reserve Bank stock (1) $ 14,068 $ 14,069 Other investments 159 201 Total cost method equity investments 14,227 14,270 Life insurance cash surrender value 53,459 51,535 Net deferred tax asset 49,514 55,417 Limited partnership investments 11,241 12,591 Interest receivable 20,776 21,489 Prepaid assets 3,969 4,825 Other assets 11,783 11,597 Total other assets $ 164,969 $ 171,724 |
Schedule of Amounts Recognized in Net Income [Table Text Block] | For the Three Months Ended For the Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands) Investment loss included in pre-tax income $ 450 $ 675 $ 1,350 $ 2,025 Tax credits recognized in provision for income taxes 463 562 1,388 1,723 |
Note 7 - Goodwill and Identif23
Note 7 - Goodwill and Identifiable Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | At September 30, 2017 At December 31, 2016 (In thousands) Goodwill $ 121,673 $ 121,673 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | At September 30, 2017 At December 31, 2016 Gross Gross Carrying Accumulated Carrying Accumulated Amount Amortization Amount Amortization (In thousands) Core Deposit Intangibles $ 56,808 $ (52,271 ) $ 56,808 $ (50,074 ) Merchant Draft Processing Intangible 10,300 (10,232 ) 10,300 (10,107 ) Total Identifiable Intangible Assets $ 67,108 $ (62,503 ) $ 67,108 $ (60,181 ) |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Merchant Core Draft Deposit Processing Intangibles Intangible Total (In thousands) For the Nine Months ended September 30, 2017 (actual) $ 2,197 $ 125 $ 2,322 Estimate for the remainder of year ending December 31, 2017 716 39 755 Estimate for year ending December 31, 2018 1,892 29 1,921 2019 538 - 538 2020 287 - 287 2021 269 - 269 2022 252 - 252 |
Note 8 - Deposits and Borrowe24
Note 8 - Deposits and Borrowed Funds (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Deposits [Table Text Block] | Deposits At September 30, 2017 At December 31, 2016 (In thousands) Noninterest-bearing $ 2,128,342 $ 2,089,443 Interest-bearing: Transaction 873,145 865,701 Savings 1,491,168 1,493,427 Time deposits less than $100 thousand 124,252 133,712 Time deposits $100 thousand through $250 thousand 79,614 84,925 Time deposits more than $250 thousand 38,059 37,533 Total deposits $ 4,734,580 $ 4,704,741 |
Schedule of Repurchase Agreements [Table Text Block] | Repurchase Agreements (Sweep) Remaining Contractual Maturity of the Agreements Overnight and Continuous At September 30, 2017 At December 31, 2016 Repurchase agreements: (In thousands) Collateral securing borrowings: Securities of U.S. Government sponsored entities $ 74,852 $ 74,031 Agency residential MBS 60,023 63,277 Corporate securities 105,698 90,554 Total collateral carrying value $ 240,573 $ 227,862 Total short-term borrowed funds $ 66,337 $ 59,078 |
Note 9 - Fair Value Measureme25
Note 9 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | At September 30, 2017 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 $ 120,459 $ - $ 120,459 $ - Agency residential MBS 739,218 - 739,218 - Non-agency residential MBS 165 - 165 - Agency commercial MBS 1,902 - 1,902 - Securities of U.S. Government entities 1,769 - 1,769 - Obligations of states and political subdivisions 179,501 - 179,501 - FHLMC and FNMA stock 9,560 13 9,547 - Corporate securities 1,036,089 - 1,036,089 - Other securities 1,814 - 1,814 - Total securities available for sale $ 2,090,477 $ 13 $ 2,090,464 $ - At December 31, 2016 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 $ 138,660 $ - $ 138,660 $ - Agency residential MBS 691,499 - 691,499 - Non-agency residential MBS 271 - 271 - Securities of U.S. Government entities 2,025 - 2,025 - Obligations of states and political subdivisions 183,411 - 183,411 - Asset-backed securities 695 - 695 - FHLMC and FNMA stock 10,869 17 10,852 - Corporate securities 860,857 - 860,857 - Other securities 2,471 656 1,815 - Total securities available for sale $ 1,890,758 $ 673 $ 1,890,085 $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | For the Nine Months Ended At September 30, 2017 September 30, 2017 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 1,426 $ - $ - $ 1,426 $ (219 ) Impaired loans 10,821 - - 10,821 - Total assets measured at fair value on a nonrecurring basis $ 12,247 $ - $ - $ 12,247 $ (219 ) For the Year Ended At December 31, 2016 December 31, 2016 Carrying Value Level 1 Level 2 Level 3 Total Losses (In thousands) Other real estate owned $ 3,095 $ - $ - $ 3,095 $ (705 ) Impaired loans 9,525 - - 9,525 - Total assets measured at fair value on a nonrecurring basis $ 12,620 $ - $ - $ 12,620 $ (705 ) |
Fair Value, by Balance Sheet Grouping [Table Text Block] | At September 30, 2017 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 $ 561,757 $ 561,757 $ 561,757 $ - $ - Investment securities held to maturity 1,204,240 1,208,279 - 1,208,279 - Loans 1,261,154 1,264,503 - - 1,264,503 Financial Liabilities: Deposits $ 4,734,580 $ 4,731,990 $ - $ 4,492,655 $ 239,335 Short-term borrowed funds 66,337 66,337 - 66,337 - At December 31, 2016 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 $ 462,271 $ 462,271 $ 462,271 $ - $ - Investment securities held to maturity 1,346,312 1,340,741 - 1,340,741 - Loans 1,326,757 1,337,774 - - 1,337,774 Financial Liabilities: Deposits $ 4,704,741 $ 4,702,797 $ - $ 4,448,571 $ 254,226 Short-term borrowed funds 59,078 59,078 - 59,078 - |
Note 11 - Earnings Per Common26
Note 11 - Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months For the Nine Months Ended September 30, 2017 2016 2017 2016 (In thousands, except per share data) Net income applicable to common equity (numerator) $ 15,017 $ 15,628 $ 45,865 $ 44,400 Basic earnings per common share Weighted average number of common shares outstanding - basic 26,309 25,641 26,260 25,558 Basic earnings per common share $ 0.57 $ 0.61 $ 1.75 $ 1.74 Diluted earnings per common share Weighted average number of common shares outstanding - basic 26,309 25,641 26,260 25,558 Add common stock equivalents for options 95 46 119 37 Weighted average number of common shares outstanding - diluted 26,404 25,687 26,379 25,595 Diluted earnings per common share $ 0.57 $ 0.61 $ 1.74 $ 1.73 |
Note 2 - Accounting Policies (D
Note 2 - Accounting Policies (Details Textual) shares in Thousands, $ in Millions | 9 Months Ended |
Sep. 30, 2017USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | 403 |
Percentage of Revenue Out of Scope of ASU 2014-09 | 73.00% |
Operating Leases, Future Minimum Payments Due | $ 20.8 |
Accounting Standards Update 2016-09 [Member] | |
Excess Tax Deduction Exceeding Related Share-based Compensation, Operating Activities | $ 1.6 |
Note 3 - Investment Securitie28
Note 3 - Investment Securities (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
High Risk Collateralized Mortgage Obligations | $ 0 | $ 0 |
Pledged Financial Instruments, Not Separately Reported, Securities | $ 771,257 | $ 768,845 |
Note 3 - Investment Securitie29
Note 3 - Investment Securities - Amortized Cost, Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investment Securities Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Investment securities available for sale, amortized cost | $ 2,096,385 | $ 1,908,079 | |
Investment securities available for sale, gross unrealized gains | 17,794 | 18,494 | |
Investment securities available for sale, gross unrealized losses | (23,702) | (35,815) | |
Investment securities available for sale | 2,090,477 | 1,890,758 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Investment securities available for sale, amortized cost | 122,280 | 141,599 | |
Investment securities available for sale, gross unrealized gains | 19 | 35 | |
Investment securities available for sale, gross unrealized losses | (1,840) | (2,974) | |
Investment securities available for sale | 120,459 | 138,660 | |
Agency Residential MBS [Member] | |||
Investment securities available for sale, amortized cost | 754,138 | 711,623 | |
Investment securities available for sale, gross unrealized gains | 1,091 | 921 | |
Investment securities available for sale, gross unrealized losses | (16,011) | (21,045) | |
Investment securities available for sale | 739,218 | 691,499 | |
Non-agency Residential MBS [Member] | |||
Investment securities available for sale, amortized cost | 164 | 272 | |
Investment securities available for sale, gross unrealized gains | 1 | ||
Investment securities available for sale, gross unrealized losses | (1) | ||
Investment securities available for sale | 165 | 271 | |
Agency Commercial MBS [Member] | |||
Investment securities available for sale, amortized cost | 1,916 | ||
Investment securities available for sale, gross unrealized gains | |||
Investment securities available for sale, gross unrealized losses | (14) | ||
Investment securities available for sale | 1,902 | ||
US Government Agencies Debt Securities [Member] | |||
Investment securities available for sale, amortized cost | 1,783 | 2,041 | |
Investment securities available for sale, gross unrealized gains | |||
Investment securities available for sale, gross unrealized losses | (14) | (16) | |
Investment securities available for sale | 1,769 | 2,025 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Investment securities available for sale, amortized cost | 176,182 | 182,230 | |
Investment securities available for sale, gross unrealized gains | 4,929 | 5,107 | |
Investment securities available for sale, gross unrealized losses | (1,610) | (3,926) | |
Investment securities available for sale | 179,501 | 183,411 | |
Asset-backed Securities [Member] | |||
Investment securities available for sale, amortized cost | 696 | ||
Investment securities available for sale, gross unrealized gains | |||
Investment securities available for sale, gross unrealized losses | (1) | ||
Investment securities available for sale | 695 | ||
FHLMC and FNMA Stock [Member] | |||
Investment securities available for sale, amortized cost | [1],[2] | 749 | 749 |
Investment securities available for sale, gross unrealized gains | [1],[2] | 8,811 | 10,120 |
Investment securities available for sale, gross unrealized losses | [1],[2] | ||
Investment securities available for sale | [1],[2] | 9,560 | 10,869 |
Domestic Corporate Debt Securities [Member] | |||
Investment securities available for sale, amortized cost | 1,037,173 | 866,835 | |
Investment securities available for sale, gross unrealized gains | 2,943 | 1,690 | |
Investment securities available for sale, gross unrealized losses | (4,027) | (7,668) | |
Investment securities available for sale | 1,036,089 | 860,857 | |
Other Securities [Member] | |||
Investment securities available for sale, amortized cost | 2,000 | 2,034 | |
Investment securities available for sale, gross unrealized gains | 621 | ||
Investment securities available for sale, gross unrealized losses | (186) | (184) | |
Investment securities available for sale | $ 1,814 | $ 2,471 | |
[1] | Federal Home Loan Mortgage Corporation | ||
[2] | Federal National Mortgage Association |
Note 3 - Investment Securitie30
Note 3 - Investment Securities - Amortized Cost, Unrealized Gains and Losses, and Estimated Market Value of Held to Maturity Investment Securities Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investment securities held to maturity, amortized cost | $ 1,204,240 | $ 1,346,312 |
Investment securities held to maturity, gross unrecognized gains | 12,016 | 7,241 |
Investment securities held to maturity, gross unrecognized losses | (7,977) | (12,812) |
Investment securities held to maturity, fair values | 1,208,279 | 1,340,741 |
Agency Residential MBS [Member] | ||
Investment securities held to maturity, amortized cost | 574,017 | 668,235 |
Investment securities held to maturity, gross unrecognized gains | 949 | 1,122 |
Investment securities held to maturity, gross unrecognized losses | (6,802) | (8,602) |
Investment securities held to maturity, fair values | 568,164 | 660,755 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Investment securities held to maturity, amortized cost | 581 | |
Investment securities held to maturity, gross unrecognized gains | 1 | |
Investment securities held to maturity, gross unrecognized losses | ||
Investment securities held to maturity, fair values | 582 | |
Non-agency Residential MBS [Member] | ||
Investment securities held to maturity, amortized cost | 4,628 | 5,370 |
Investment securities held to maturity, gross unrecognized gains | 67 | 76 |
Investment securities held to maturity, gross unrecognized losses | ||
Investment securities held to maturity, fair values | 4,695 | 5,446 |
Agency Commercial MBS [Member] | ||
Investment securities held to maturity, amortized cost | 9,114 | 9,332 |
Investment securities held to maturity, gross unrecognized gains | 1 | 11 |
Investment securities held to maturity, gross unrecognized losses | (82) | (143) |
Investment securities held to maturity, fair values | 9,033 | 9,200 |
US States and Political Subdivisions Debt Securities [Member] | ||
Investment securities held to maturity, amortized cost | 616,481 | 662,794 |
Investment securities held to maturity, gross unrecognized gains | 10,999 | 6,031 |
Investment securities held to maturity, gross unrecognized losses | (1,093) | (4,067) |
Investment securities held to maturity, fair values | $ 626,387 | $ 664,758 |
Note 3 - Investment Securitie31
Note 3 - Investment Securities - Amortized Cost and Estimated Market Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investment securities available for sale, amortized cost, 1 year or less | $ 208,391 | $ 154,693 |
Investment securities available for sale, fair value, 1 year or less | 208,764 | 154,835 |
Investment securities held to maturity, amortized cost, 1 year or less | 37,548 | 14,961 |
Investment securities held to maturity, fair value, 1 year or less | 38,399 | 15,639 |
Investment securities available for sale, amortized cost, over 1 to 5 years | 861,895 | 750,834 |
Investment securities available for sale, fair value, over 1 to 5 years | 860,966 | 745,219 |
Investment securities held to maturity, amortized cost, over 1 to 5 years | 278,240 | 292,024 |
Investment securities held to maturity, fair value, over 1 to 5 years | 281,577 | 292,062 |
Investment securities available for sale, amortized cost, over 5 to 10 years | 219,648 | 238,077 |
Investment securities available for sale, fair value, over 5 to 10 years | 221,949 | 239,153 |
Investment securities held to maturity, amortized cost, over 5 to 10 years | 290,869 | 318,580 |
Investment securities held to maturity, fair value, over 5 to 10 years | 296,357 | 319,587 |
Investment securities available for sale, amortized cost, over 10 years | 45,701 | 47,756 |
Investment securities available for sale, fair value, over 10 years | 44,370 | 44,416 |
Investment securities held to maturity, amortized cost, over 10 years | 9,824 | 37,810 |
Investment securities held to maturity, fair value, over 10 years | 10,054 | 38,052 |
Investment securities available for sale, amortized cost, subtotal | 1,335,635 | 1,191,360 |
Investment securities available for sale, fair value, subtotal | 1,336,049 | 1,183,623 |
Investment securities held to maturity, amortized cost, subtotal | 616,481 | 663,375 |
Investment securities held to maturity, fair value, subtotal | 626,387 | 665,340 |
Investment securities available for sale, amortized cost | 2,096,385 | 1,908,079 |
Investment securities available for sale | 2,090,477 | 1,890,758 |
Investment securities held to maturity, amortized cost | 1,204,240 | 1,346,312 |
Investment securities held to maturity, fair values | 1,208,279 | 1,340,741 |
Mortgage Backed Securities [Member] | ||
Investment securities available for sale, amortized cost | 758,001 | 713,936 |
Investment securities available for sale, fair value | 743,054 | 693,795 |
Investment securities held to maturity, amortized cost | 587,759 | 682,937 |
Investment securities held to maturity, fair value | 581,892 | 675,401 |
Other Securities [Member] | ||
Investment securities available for sale, amortized cost | 2,749 | 2,783 |
Investment securities available for sale, fair value | 11,374 | 13,340 |
Investment securities held to maturity, amortized cost | ||
Investment securities held to maturity, fair value | ||
Investment securities available for sale, amortized cost | 2,000 | 2,034 |
Investment securities available for sale | $ 1,814 | $ 2,471 |
Note 3 - Investment Securitie32
Note 3 - Investment Securities - Gross Unrealized Losses, Investment Securities Portfolio (Details) $ in Thousands | Sep. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
Available for sale securities, less than 12 months, number of investment positions | 95 | 129 |
Available for sale securities, less than 12 months, fair value | $ 756,328 | $ 1,086,159 |
Available for sale securities, less than 12 months, unrealized losses | $ (11,736) | $ (29,934) |
Available for sale securities, 12 months or longer, number of investment positions | 92 | 61 |
Available for sale securities, 12 months or longer, fair value | $ 436,476 | $ 223,446 |
Available for sale securities, 12 months or longer, unrealized losses | $ (11,966) | $ (5,881) |
Available for sale securities, total, number of investment positions | 187 | 190 |
Available for sale securities, total, fair value | $ 1,192,804 | $ 1,309,605 |
Available for sale securities, total, unrealized losses | $ (23,702) | $ (35,815) |
Held to Maturity securities, less than 12 months, number of investment positions | 106 | 361 |
Held to Maturity securities, less than 12 months, fair value | $ 534,119 | $ 842,372 |
Held to Maturity securities, less than 12 months, unrecognized losses | $ (6,737) | $ (11,995) |
Held to Maturity securities, 12 months or longer, number of investment positions | 35 | 16 |
Held to Maturity securities, 12 months or longer, fair value | $ 53,886 | $ 30,820 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (1,240) | $ (817) |
Held to Maturity securities, total, number of investment positions | 141 | 377 |
Held to Maturity securities, total, fair value | $ 588,005 | $ 873,192 |
Held to Maturity securities, total, unrecognized losses | $ (7,977) | $ (12,812) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 6 | 8 |
Available for sale securities, less than 12 months, fair value | $ 89,046 | $ 117,227 |
Available for sale securities, less than 12 months, unrealized losses | $ (1,169) | $ (2,974) |
Available for sale securities, 12 months or longer, number of investment positions | 2 | |
Available for sale securities, 12 months or longer, fair value | $ 29,328 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (671) | |
Available for sale securities, total, number of investment positions | 8 | 8 |
Available for sale securities, total, fair value | $ 118,374 | $ 117,227 |
Available for sale securities, total, unrealized losses | $ (1,840) | $ (2,974) |
Agency Residential MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 15 | 21 |
Available for sale securities, less than 12 months, fair value | $ 336,023 | $ 524,269 |
Available for sale securities, less than 12 months, unrealized losses | $ (8,283) | $ (16,494) |
Available for sale securities, 12 months or longer, number of investment positions | 37 | 28 |
Available for sale securities, 12 months or longer, fair value | $ 202,746 | $ 122,901 |
Available for sale securities, 12 months or longer, unrealized losses | $ (7,728) | $ (4,551) |
Available for sale securities, total, number of investment positions | 52 | 49 |
Available for sale securities, total, fair value | $ 538,769 | $ 647,170 |
Available for sale securities, total, unrealized losses | $ (16,011) | $ (21,045) |
Held to Maturity securities, less than 12 months, number of investment positions | 64 | 66 |
Held to Maturity securities, less than 12 months, fair value | $ 494,096 | $ 569,876 |
Held to Maturity securities, less than 12 months, unrecognized losses | $ (6,320) | $ (8,285) |
Held to Maturity securities, 12 months or longer, number of investment positions | 8 | 3 |
Held to Maturity securities, 12 months or longer, fair value | $ 19,092 | $ 10,480 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (482) | $ (317) |
Held to Maturity securities, total, number of investment positions | 72 | 69 |
Held to Maturity securities, total, fair value | $ 513,188 | $ 580,356 |
Held to Maturity securities, total, unrecognized losses | $ (6,802) | $ (8,602) |
Agency Commercial MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | |
Available for sale securities, less than 12 months, fair value | $ 1,902 | |
Available for sale securities, less than 12 months, unrealized losses | $ (14) | |
Available for sale securities, 12 months or longer, number of investment positions | ||
Available for sale securities, 12 months or longer, fair value | ||
Available for sale securities, 12 months or longer, unrealized losses | ||
Available for sale securities, total, number of investment positions | 1 | |
Available for sale securities, total, fair value | $ 1,902 | |
Available for sale securities, total, unrealized losses | $ (14) | |
Held to Maturity securities, less than 12 months, number of investment positions | ||
Held to Maturity securities, less than 12 months, fair value | ||
Held to Maturity securities, less than 12 months, unrecognized losses | ||
Held to Maturity securities, 12 months or longer, number of investment positions | 1 | 1 |
Held to Maturity securities, 12 months or longer, fair value | $ 7,101 | $ 7,214 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (82) | $ (143) |
Held to Maturity securities, total, number of investment positions | 1 | 1 |
Held to Maturity securities, total, fair value | $ 7,101 | $ 7,214 |
Held to Maturity securities, total, unrecognized losses | $ (82) | $ (143) |
Non-agency Residential MBS [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | 2 |
Available for sale securities, less than 12 months, fair value | $ 6 | $ 246 |
Available for sale securities, less than 12 months, unrealized losses | $ (1) | |
Available for sale securities, 12 months or longer, number of investment positions | ||
Available for sale securities, 12 months or longer, fair value | ||
Available for sale securities, 12 months or longer, unrealized losses | ||
Available for sale securities, total, number of investment positions | 1 | 2 |
Available for sale securities, total, fair value | $ 6 | $ 246 |
Available for sale securities, total, unrealized losses | $ (1) | |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 35 | 43 |
Available for sale securities, less than 12 months, fair value | $ 28,910 | $ 57,989 |
Available for sale securities, less than 12 months, unrealized losses | $ (592) | $ (3,905) |
Available for sale securities, 12 months or longer, number of investment positions | 24 | 3 |
Available for sale securities, 12 months or longer, fair value | $ 35,329 | $ 1,117 |
Available for sale securities, 12 months or longer, unrealized losses | $ (1,018) | $ (21) |
Available for sale securities, total, number of investment positions | 59 | 46 |
Available for sale securities, total, fair value | $ 64,239 | $ 59,106 |
Available for sale securities, total, unrealized losses | $ (1,610) | $ (3,926) |
Held to Maturity securities, less than 12 months, number of investment positions | 42 | 295 |
Held to Maturity securities, less than 12 months, fair value | $ 40,023 | $ 272,496 |
Held to Maturity securities, less than 12 months, unrecognized losses | $ (417) | $ (3,710) |
Held to Maturity securities, 12 months or longer, number of investment positions | 26 | 12 |
Held to Maturity securities, 12 months or longer, fair value | $ 27,693 | $ 13,126 |
Held to Maturity securities, 12 months or longer, unrecognized losses | $ (676) | $ (357) |
Held to Maturity securities, total, number of investment positions | 68 | 307 |
Held to Maturity securities, total, fair value | $ 67,716 | $ 285,622 |
Held to Maturity securities, total, unrecognized losses | $ (1,093) | $ (4,067) |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 1 | 2 |
Available for sale securities, less than 12 months, fair value | $ 896 | $ 1,253 |
Available for sale securities, less than 12 months, unrealized losses | $ (6) | $ (9) |
Available for sale securities, 12 months or longer, number of investment positions | 2 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 873 | $ 772 |
Available for sale securities, 12 months or longer, unrealized losses | $ (8) | $ (7) |
Available for sale securities, total, number of investment positions | 3 | 3 |
Available for sale securities, total, fair value | $ 1,769 | $ 2,025 |
Available for sale securities, total, unrealized losses | $ (14) | $ (16) |
Asset-backed Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | ||
Available for sale securities, less than 12 months, fair value | ||
Available for sale securities, less than 12 months, unrealized losses | ||
Available for sale securities, 12 months or longer, number of investment positions | 1 | |
Available for sale securities, 12 months or longer, fair value | $ 695 | |
Available for sale securities, 12 months or longer, unrealized losses | $ (1) | |
Available for sale securities, total, number of investment positions | 1 | |
Available for sale securities, total, fair value | $ 695 | |
Available for sale securities, total, unrealized losses | $ (1) | |
Domestic Corporate Debt Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | 36 | 53 |
Available for sale securities, less than 12 months, fair value | $ 299,545 | $ 385,175 |
Available for sale securities, less than 12 months, unrealized losses | $ (1,672) | $ (6,551) |
Available for sale securities, 12 months or longer, number of investment positions | 26 | 27 |
Available for sale securities, 12 months or longer, fair value | $ 166,386 | $ 96,145 |
Available for sale securities, 12 months or longer, unrealized losses | $ (2,355) | $ (1,117) |
Available for sale securities, total, number of investment positions | 62 | 80 |
Available for sale securities, total, fair value | $ 465,931 | $ 481,320 |
Available for sale securities, total, unrealized losses | $ (4,027) | $ (7,668) |
Other Securities [Member] | ||
Available for sale securities, less than 12 months, number of investment positions | ||
Available for sale securities, less than 12 months, fair value | ||
Available for sale securities, less than 12 months, unrealized losses | ||
Available for sale securities, 12 months or longer, number of investment positions | 1 | 1 |
Available for sale securities, 12 months or longer, fair value | $ 1,814 | $ 1,816 |
Available for sale securities, 12 months or longer, unrealized losses | $ (186) | $ (184) |
Available for sale securities, total, number of investment positions | 1 | 1 |
Available for sale securities, total, fair value | $ 1,814 | $ 1,816 |
Available for sale securities, total, unrealized losses | $ (186) | $ (184) |
Note 3 - Investment Securitie33
Note 3 - Investment Securities - Interest Income From Investment Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Taxable | $ 12,957 | $ 11,024 | $ 37,584 | $ 31,256 |
Tax-exempt from regular federal income tax | 5,106 | 5,476 | 15,718 | 16,682 |
Total interest income from investment securities | $ 18,063 | $ 16,500 | $ 53,302 | $ 47,938 |
Note 4 - Loans and Allowance 34
Note 4 - Loans and Allowance for Loan Losses (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Purchased Loans | $ 90,708 | $ 90,708 | $ 90,708 | $ 121,210 | ||
Loans and Leases Receivable, Nonaccrual, Commitment to Lend | 0 | 0 | 0 | 0 | ||
Pledged Financial Instruments, Not Separately Reported, Loans Receivable Pledged as Collateral | 0 | 0 | 0 | 0 | ||
Financing Receivable, Modifications, Recorded Investment | $ 12,365 | 12,365 | 12,365 | 12,381 | ||
Troubled Debt Restructurings During Period | 1 | 0 | 4 | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | 58 | $ 0 | $ 58 | $ 0 | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||
Loans Receivable Held-for-sale, Amount | $ 0 | 0 | $ 0 | 0 | ||
Other Real Estate | 1,426 | 1,426 | 1,426 | 3,095 | ||
Other Real Estate, Reserve | 1,905 | 1,905 | 1,905 | 1,816 | ||
Mortgage Loans in Process of Foreclosure, Amount | 0 | |||||
Residential Real Estate Included in OREO [Member] | ||||||
Real Estate Acquired Through Foreclosure | 0 | 0 | $ 0 | 0 | ||
Under-market Modification to Payment Terms and Extended Maturity Date [Member] | ||||||
Troubled Debt Restructurings During Period | 4 | 3 | ||||
Court Order [Member] | ||||||
Troubled Debt Restructurings During Period | 1 | |||||
Restructured Loans [Member] | ||||||
Financing Receivable, Modifications, Recorded Investment | 12,365 | 12,365 | $ 12,365 | 12,381 | ||
Impaired Loans, Restructured, Nonaccrual Status | 5,044 | 5,044 | 5,044 | $ 5,302 | ||
One Loan [Member] | ||||||
Financing Receivable, Modifications, Recorded Investment | 50 | 50 | 50 | |||
Four Loans [Member] | ||||||
Financing Receivable, Modifications, Recorded Investment | $ 699 | $ 699 | $ 4,843 | $ 699 | $ 4,843 |
Note 4 - Loans and Allowance 35
Note 4 - Loans and Allowance for Loan Losses - Loans Receivable at Carrying Amount (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Loans | $ 1,284,782 | $ 1,352,711 |
Commercial Portfolio Segment [Member] | ||
Loans | 316,891 | 354,697 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 573,717 | 542,171 |
Construction Portfolio Segment [Member] | ||
Loans | 4,992 | 2,555 |
Residential Portfolio Segment [Member] | ||
Loans | 69,124 | 87,724 |
Consumer Portfolio Segment [Member] | ||
Loans | $ 320,058 | $ 365,564 |
Note 4 - Loans and Allowance 36
Note 4 - Loans and Allowance for Loan Losses - Changes in the Accretable Yield for Purchased Loans (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Balance at the beginning of the period | $ 1,237 | $ 1,259 |
Reclassification from nonaccretable difference | 1,504 | 3,912 |
Accretion | (1,862) | (3,934) |
Balance at the end of the period | 879 | 1,237 |
Change in FDIC indemnification | 192 | 1,053 |
(Increase) in interest income | $ (1,670) | $ (2,881) |
Note 4 - Loans and Allowance 37
Note 4 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Balance at beginning of period | $ 24,103 | $ 28,910 | $ 25,954 | $ 29,771 |
(Reversal) provision | (3,200) | (1,900) | (3,200) | |
Chargeoffs | (1,018) | (1,936) | (4,744) | (5,592) |
Recoveries | 543 | 2,585 | 4,318 | 5,380 |
Net loan losses | (475) | 649 | (426) | (212) |
Total allowance for loan losses | 23,628 | 26,359 | 23,628 | 26,359 |
Net loan recoveries (losses) | (475) | 649 | (426) | (212) |
Unallocated Financing Receivable [Member] | ||||
Balance at beginning of period | 3,911 | 5,142 | 4,835 | 5,963 |
(Reversal) provision | (150) | (298) | (1,074) | (1,119) |
Chargeoffs | ||||
Recoveries | ||||
Net loan losses | ||||
Total allowance for loan losses | 3,761 | 4,844 | 3,761 | 4,844 |
Net loan recoveries (losses) | ||||
Commercial Portfolio Segment [Member] | ||||
Balance at beginning of period | 8,167 | 10,402 | 8,327 | 9,559 |
(Reversal) provision | (391) | (3,642) | (220) | (2,827) |
Chargeoffs | (132) | (88) | (961) | (2,024) |
Recoveries | 128 | 1,739 | 626 | 3,703 |
Net loan losses | (4) | 1,651 | (335) | 1,679 |
Total allowance for loan losses | 7,772 | 8,411 | 7,772 | 8,411 |
Net loan recoveries (losses) | (4) | 1,651 | (335) | 1,679 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance at beginning of period | 3,545 | 3,912 | 3,330 | 4,212 |
(Reversal) provision | 288 | (822) | 415 | (1,152) |
Chargeoffs | ||||
Recoveries | 509 | 88 | 539 | |
Net loan losses | 509 | 88 | 539 | |
Total allowance for loan losses | 3,833 | 3,599 | 3,833 | 3,599 |
Net loan recoveries (losses) | 509 | 88 | 539 | |
Construction Portfolio Segment [Member] | ||||
Balance at beginning of period | 160 | 167 | 152 | 235 |
(Reversal) provision | 136 | (22) | (1,755) | (90) |
Chargeoffs | ||||
Recoveries | 1,899 | |||
Net loan losses | 1,899 | |||
Total allowance for loan losses | 296 | 145 | 296 | 145 |
Net loan recoveries (losses) | 1,899 | |||
Residential Portfolio Segment [Member] | ||||
Balance at beginning of period | 1,105 | 1,636 | 1,330 | 1,801 |
(Reversal) provision | (50) | (193) | (275) | (358) |
Chargeoffs | ||||
Recoveries | ||||
Net loan losses | ||||
Total allowance for loan losses | 1,055 | 1,443 | 1,055 | 1,443 |
Net loan recoveries (losses) | ||||
Consumer Portfolio Segment [Member] | ||||
Balance at beginning of period | 7,215 | 7,651 | 7,980 | 8,001 |
(Reversal) provision | 167 | 1,777 | 1,009 | 2,346 |
Chargeoffs | (886) | (1,848) | (3,783) | (3,568) |
Recoveries | 415 | 337 | 1,705 | 1,138 |
Net loan losses | (471) | (1,511) | (2,078) | (2,430) |
Total allowance for loan losses | 6,911 | 7,917 | 6,911 | 7,917 |
Net loan recoveries (losses) | $ (471) | $ (1,511) | $ (2,078) | $ (2,430) |
Note 4 - Loans and Allowance 38
Note 4 - Loans and Allowance for Loan Losses - Recorded Investment in Loans Evaluated for Impairment (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Individually evaluated for impairment | $ 5,076 | $ 5,048 | ||||
Collectively evaluated for impairment | 18,552 | 20,906 | ||||
Total | 23,628 | $ 24,103 | 25,954 | $ 26,359 | $ 28,910 | $ 29,771 |
Individually evaluated for impairment | 24,933 | 24,715 | ||||
Collectively evaluated for impairment | 1,259,089 | 1,327,131 | ||||
Total loans | 1,284,782 | 1,352,711 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Total | 0 | 0 | ||||
Total loans | 760 | 865 | ||||
Unallocated Financing Receivable [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 3,761 | 4,835 | ||||
Total | 3,761 | 3,911 | 4,835 | 4,844 | 5,142 | 5,963 |
Individually evaluated for impairment | ||||||
Collectively evaluated for impairment | ||||||
Total loans | ||||||
Unallocated Financing Receivable [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Total | 0 | 0 | ||||
Total loans | ||||||
Commercial Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 4,922 | 5,048 | ||||
Collectively evaluated for impairment | 2,850 | 3,279 | ||||
Total | 7,772 | 8,167 | 8,327 | 8,411 | 10,402 | 9,559 |
Individually evaluated for impairment | 10,749 | 11,174 | ||||
Collectively evaluated for impairment | 306,113 | 343,494 | ||||
Total loans | 316,891 | 354,697 | ||||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Total | 0 | 0 | ||||
Total loans | 29 | 29 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 154 | |||||
Collectively evaluated for impairment | 3,679 | 3,330 | ||||
Total | 3,833 | 3,545 | 3,330 | 3,599 | 3,912 | 4,212 |
Individually evaluated for impairment | 13,973 | 12,706 | ||||
Collectively evaluated for impairment | 559,182 | 528,957 | ||||
Total loans | 573,717 | 542,171 | ||||
Commercial Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Total | 0 | 0 | ||||
Total loans | 562 | 508 | ||||
Construction Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 296 | 152 | ||||
Total | 296 | 160 | 152 | 145 | 167 | 235 |
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 4,992 | 2,555 | ||||
Total loans | 4,992 | 2,555 | ||||
Construction Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Total | 0 | 0 | ||||
Total loans | 0 | |||||
Residential Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 1,055 | 1,330 | ||||
Total | 1,055 | 1,105 | 1,330 | 1,443 | 1,636 | 1,801 |
Individually evaluated for impairment | 211 | 835 | ||||
Collectively evaluated for impairment | 68,913 | 86,889 | ||||
Total loans | 69,124 | 87,724 | ||||
Residential Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Total | 0 | 0 | ||||
Total loans | 0 | |||||
Consumer Portfolio Segment [Member] | ||||||
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 6,911 | 7,980 | ||||
Total | 6,911 | $ 7,215 | 7,980 | $ 7,917 | $ 7,651 | $ 8,001 |
Individually evaluated for impairment | 0 | |||||
Collectively evaluated for impairment | 319,889 | 365,236 | ||||
Total loans | 320,058 | 365,564 | ||||
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Total | 0 | 0 | ||||
Total loans | $ 169 | $ 328 |
Note 4 - Loans and Allowance 39
Note 4 - Loans and Allowance for Loan Losses - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Loans | $ 1,284,782 | $ 1,352,711 |
Pass [Member] | ||
Loans | 1,245,021 | 1,305,554 |
Substandard [Member] | ||
Loans | 39,239 | 45,371 |
Doubtful [Member] | ||
Loans | 6 | 1,306 |
Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 516 | 480 |
Commercial Portfolio Segment [Member] | ||
Loans | 316,891 | 354,697 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Loans | 304,710 | 340,973 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 12,181 | 13,724 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 573,717 | 542,171 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
Loans | 551,222 | 515,045 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 22,495 | 25,830 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 1,296 | |
Commercial Real Estate Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Loans | 4,992 | 2,555 |
Construction Portfolio Segment [Member] | Pass [Member] | ||
Loans | 4,992 | 2,555 |
Construction Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Construction Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Loans | 69,124 | 87,724 |
Residential Portfolio Segment [Member] | Pass [Member] | ||
Loans | 66,164 | 84,384 |
Residential Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 2,960 | 3,340 |
Residential Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 0 | 0 |
Residential Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans | 320,058 | 365,564 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans | 317,933 | 362,597 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans | 1,603 | 2,477 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Loans | 6 | 10 |
Consumer Portfolio Segment [Member] | Unlikely to be Collected Financing Receivable [Member] | ||
Loans | $ 516 | $ 480 |
Note 4 - Loans and Allowance 40
Note 4 - Loans and Allowance for Loan Losses - Loans by Delinquency and Nonaccrual Status (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Current and accruing | $ 1,271,163 | $ 1,335,850 |
Nonaccrual | 5,783 | 8,385 |
Total loans | 1,284,782 | 1,352,711 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 6,575 | 6,468 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 827 | 1,511 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 434 | 497 |
Commercial Portfolio Segment [Member] | ||
Current and accruing | 316,150 | 353,497 |
Nonaccrual | 271 | 194 |
Total loans | 316,891 | 354,697 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 404 | 966 |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 66 | 40 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Current and accruing | 565,377 | 533,377 |
Nonaccrual | 5,512 | 6,889 |
Total loans | 573,717 | 542,171 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 2,820 | 1,460 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 8 | 445 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Construction Portfolio Segment [Member] | ||
Current and accruing | 4,992 | 2,329 |
Nonaccrual | 0 | 0 |
Total loans | 4,992 | 2,555 |
Construction Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 0 | 226 |
Construction Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Construction Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Residential Portfolio Segment [Member] | ||
Current and accruing | 69,124 | 86,098 |
Nonaccrual | 0 | 1,061 |
Total loans | 69,124 | 87,724 |
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 0 | 528 |
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 0 | 37 |
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due and accruing | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Current and accruing | 315,520 | 360,549 |
Nonaccrual | 0 | 241 |
Total loans | 320,058 | 365,564 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Past due and accruing | 3,351 | 3,288 |
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Past due and accruing | 753 | 989 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past due and accruing | $ 434 | $ 497 |
Note 4 - Loans and Allowance 41
Note 4 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Impaired loans with no related allowance recorded, recorded investment | $ 14,352 | $ 16,315 |
Impaired loans with no related allowance recorded, unpaid principal balance | 16,642 | 18,897 |
Impaired loans with an allowance recorded, recorded investment | 11,612 | 10,163 |
Impaired loans with an allowance recorded, unpaid principal balance | 11,614 | 10,172 |
Impaired loans with an allowance recorded, related allowance | 5,076 | 5,048 |
Total impaired loans, recorded investment | 25,964 | 26,478 |
Total impaired loans, unpaid principal balance | 28,256 | 29,069 |
Commercial Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, recorded investment | 1,246 | 1,234 |
Impaired loans with no related allowance recorded, unpaid principal balance | 1,308 | 1,303 |
Impaired loans with an allowance recorded, recorded investment | 9,803 | 10,163 |
Impaired loans with an allowance recorded, unpaid principal balance | 9,803 | 10,172 |
Impaired loans with an allowance recorded, related allowance | 4,922 | 5,048 |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, recorded investment | 12,726 | 13,233 |
Impaired loans with no related allowance recorded, unpaid principal balance | 14,817 | 15,610 |
Impaired loans with an allowance recorded, recorded investment | 1,809 | |
Impaired loans with an allowance recorded, unpaid principal balance | 1,811 | |
Impaired loans with an allowance recorded, related allowance | 154 | |
Residential Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, recorded investment | 211 | 1,279 |
Impaired loans with no related allowance recorded, unpaid principal balance | 241 | 1,309 |
Consumer Portfolio Segment [Member] | ||
Impaired loans with no related allowance recorded, recorded investment | 169 | 569 |
Impaired loans with no related allowance recorded, unpaid principal balance | $ 276 | $ 675 |
Note 4 - Loans and Allowance 42
Note 4 - Loans and Allowance for Loan Losses - Impaired Loans, Supplemental Schedule (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Average Recorded Investment | $ 26,511 | $ 28,419 | $ 26,989 | $ 32,709 |
Recognized Interest Income | 345 | 324 | 1,065 | 974 |
Commercial Portfolio Segment [Member] | ||||
Average Recorded Investment | 11,125 | 12,858 | 11,203 | 13,454 |
Recognized Interest Income | 130 | 126 | 366 | 394 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Average Recorded Investment | 14,681 | 14,486 | 14,826 | 17,991 |
Recognized Interest Income | 208 | 188 | 669 | 549 |
Construction Portfolio Segment [Member] | ||||
Average Recorded Investment | 136 | |||
Recognized Interest Income | ||||
Residential Portfolio Segment [Member] | ||||
Average Recorded Investment | 365 | 530 | 494 | 693 |
Recognized Interest Income | 4 | 4 | 13 | 13 |
Consumer Portfolio Segment [Member] | ||||
Average Recorded Investment | 340 | 545 | 466 | 435 |
Recognized Interest Income | $ 3 | $ 6 | $ 17 | $ 18 |
Note 4 - Loans and Allowance 43
Note 4 - Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Contracts | 19 | 18 |
Pre-Modification Carrying Value | $ 14,481 | $ 14,217 |
Financing Receivable, Modifications, Recorded Investment | 12,365 | 12,381 |
Period-End Individual Impairment Allowance | $ 49 | $ 113 |
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 7 | 7 |
Pre-Modification Carrying Value | $ 2,393 | $ 2,719 |
Financing Receivable, Modifications, Recorded Investment | 1,140 | 1,489 |
Period-End Individual Impairment Allowance | $ 49 | $ 113 |
Commercial Real Estate Portfolio Segment [Member] | ||
Number of Contracts | 11 | 10 |
Pre-Modification Carrying Value | $ 11,847 | $ 11,257 |
Financing Receivable, Modifications, Recorded Investment | 11,014 | 10,673 |
Period-End Individual Impairment Allowance | ||
Residential Portfolio Segment [Member] | ||
Number of Contracts | 1 | 1 |
Pre-Modification Carrying Value | $ 241 | $ 241 |
Financing Receivable, Modifications, Recorded Investment | 211 | 219 |
Period-End Individual Impairment Allowance |
Note 5 - Concentration of Cre44
Note 5 - Concentration of Credit Risk (Details Textual) $ in Thousands | Sep. 30, 2017USD ($) | Dec. 31, 2016USD ($) |
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 | 66 | |
Loan Commitments and Standby Letters of Credit Related to Real Estate Loans | $ 58,046 | $ 57,721 |
Concentration Risk, Aggregate Securities Amount | $ 5,000 | |
Commercial Real Estate Loans [Member] | ||
Loan To Value Ratio Requirement | 75.00% | |
Residential Real Estate Loans [Member] | ||
Loan To Value Ratio Requirement | 80.00% | |
Aggregate Loans [Member] | Customer Concentration Risk [Member] | ||
Concentration Risk, Issuer Relationships | 38 | |
Concentration Risk, Aggregate Loans Amount | $ 5,000 |
Note 6 - Other Assets (Details
Note 6 - Other Assets (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
FRB Membership, Stock Subscription, Percent of Paid-Up Capital Stock and Surplus Requirement | 6.00% | |
LIHTC Investments | $ 11,241 | $ 12,591 |
Qualified Affordable Housing Project Investments, Commitment | 2,299 | $ 2,299 |
Contingent Commitment, Year 4 [Member] | ||
Qualified Affordable Housing Project Investments, Commitment | 722 | |
Contingent Commitment, Year 7 [Member] | ||
Qualified Affordable Housing Project Investments, Commitment | 131 | |
Contingent Commitment, Year 8 [Member] | ||
Qualified Affordable Housing Project Investments, Commitment | 90 | |
Contingent Commitment, Year 9 or Thereafter [Member] | ||
Qualified Affordable Housing Project Investments, Commitment | $ 1,356 |
Note 6 - Other Assets - Summary
Note 6 - Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Cost method equity investments: | |||
Federal Reserve Bank stock | [1] | $ 14,068 | $ 14,069 |
Other investments | 159 | 201 | |
Total cost method equity investments | 14,227 | 14,270 | |
Life insurance cash surrender value | 53,459 | 51,535 | |
Net deferred tax asset | 49,514 | 55,417 | |
Limited partnership investments | 11,241 | 12,591 | |
Interest receivable | 20,776 | 21,489 | |
Prepaid assets | 3,969 | 4,825 | |
Other assets | 11,783 | 11,597 | |
Total other assets | $ 164,969 | $ 171,724 | |
[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 sum equal 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 remaining half will be subject to call when deemed necessary by the Board of Governors of the Federal Reserve System. |
Note 6 - Other Assets - Amounts
Note 6 - Other Assets - Amounts Recognized in Net Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Investment loss included in pre-tax income | $ 450 | $ 675 | $ 1,350 | $ 2,025 |
Tax credits recognized in provision for income taxes | $ 463 | $ 562 | $ 1,388 | $ 1,723 |
Note 7 - Goodwill and Identif48
Note 7 - Goodwill and Identifiable Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Goodwill and Intangible Asset Impairment | $ 0 | $ 0 | $ 0 |
Amortization Expense, Adjustment Resulting from a Change in Estimates of Useful Lives or Residual Values | $ 0 | $ 0 | $ 0 |
Note 7 - Goodwill and Identif49
Note 7 - Goodwill and Identifiable Intangible Assets - Carrying Values of Goodwill (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Goodwill | $ 121,673 | $ 121,673 |
Note 7 - Goodwill and Identif50
Note 7 - Goodwill and Identifiable Intangible Assets - Gross Carrying Amount of Intangible Assets and Accumulated Amortization (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Gross Carrying Amount | $ 67,108 | $ 67,108 |
Accumulated Amortization | (62,503) | (60,181) |
Core Deposits [Member] | ||
Gross Carrying Amount | 56,808 | 56,808 |
Accumulated Amortization | (52,271) | (50,074) |
Mechant Draft Processing [Member] | ||
Gross Carrying Amount | 10,300 | 10,300 |
Accumulated Amortization | $ (10,232) | $ (10,107) |
Note 7 - Goodwill and Identif51
Note 7 - Goodwill and Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
For the Nine Months ended September 30, 2017 (actual) | $ 760 | $ 867 | $ 2,322 | $ 2,642 |
Estimate for the remainder of year ending December 31, 2017 | 755 | 755 | ||
Estimate for year ending December 31, 2018 | 1,921 | 1,921 | ||
2,019 | 538 | 538 | ||
2,020 | 287 | 287 | ||
2,021 | 269 | 269 | ||
2,022 | 252 | 252 | ||
Core Deposits [Member] | ||||
For the Nine Months ended September 30, 2017 (actual) | 2,197 | |||
Estimate for the remainder of year ending December 31, 2017 | 716 | 716 | ||
Estimate for year ending December 31, 2018 | 1,892 | 1,892 | ||
2,019 | 538 | 538 | ||
2,020 | 287 | 287 | ||
2,021 | 269 | 269 | ||
2,022 | 252 | 252 | ||
Mechant Draft Processing [Member] | ||||
For the Nine Months ended September 30, 2017 (actual) | 125 | |||
Estimate for the remainder of year ending December 31, 2017 | 39 | 39 | ||
Estimate for year ending December 31, 2018 | 29 | 29 | ||
2,019 | ||||
2,020 | ||||
2,021 | ||||
2,022 |
Note 8 - Deposits and Borrowe52
Note 8 - Deposits and Borrowed Funds (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Demand Deposit Overdrafts | $ 1,179 | $ 1,179 | $ 2,679 | ||
Interest Expense, Time Deposits, $100,000 or More | $ 103 | $ 124 | $ 314 | $ 395 |
Note 8 - Deposits and Borrowe53
Note 8 - Deposits and Borrowed Funds - Deposits Detail (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Noninterest-bearing deposits | $ 2,128,342 | $ 2,089,443 |
Transaction | 873,145 | 865,701 |
Savings | 1,491,168 | 1,493,427 |
Time deposits less than $100 thousand | 124,252 | 133,712 |
Time deposits $100 thousand through $250 thousand | 79,614 | 84,925 |
Time deposits more than $250 thousand | 38,059 | 37,533 |
Total deposits | $ 4,734,580 | $ 4,704,741 |
Note 8 - Deposits and Borrowe54
Note 8 - Deposits and Borrowed Funds - Short-term Borrowed Funds (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Collateral Carrying Value | $ 240,573 | $ 227,862 |
Short-term borrowed funds | 66,337 | 59,078 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Collateral Carrying Value | 74,852 | 74,031 |
Agency Residential MBS [Member] | ||
Collateral Carrying Value | 60,023 | 63,277 |
Corporate Debt Securities [Member] | ||
Collateral Carrying Value | $ 105,698 | $ 90,554 |
Note 9 - Fair Value Measureme55
Note 9 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Securities Selected for OTTI Analysis, Market Price, Threshold | 95.00% | |
Loans and Leases Receivable, Allowance | $ 23,628 | $ 25,954 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Appraisal Rate | 10.00% |
Note 9 - Fair Value Measureme56
Note 9 - Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Investment securities available for sale | $ 2,090,477 | $ 1,890,758 | |
Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 2,090,477 | 1,890,758 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | 13 | 673 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 2,090,464 | 1,890,085 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
US Government-sponsored Enterprises Debt Securities [Member] | |||
Investment securities available for sale | 120,459 | 138,660 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 120,459 | 138,660 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | |||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 120,459 | 138,660 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
Agency Residential MBS [Member] | |||
Investment securities available for sale | 739,218 | 691,499 | |
Agency Residential MBS [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 739,218 | 691,499 | |
Agency Residential MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | |||
Agency Residential MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 739,218 | 691,499 | |
Agency Residential MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
Non-agency Residential MBS [Member] | |||
Investment securities available for sale | 165 | 271 | |
Non-agency Residential MBS [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 165 | 271 | |
Non-agency Residential MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | |||
Non-agency Residential MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 165 | 271 | |
Non-agency Residential MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
Agency Commercial MBS [Member] | |||
Investment securities available for sale | 1,902 | ||
Agency Commercial MBS [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 1,902 | ||
Agency Commercial MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | |||
Agency Commercial MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 1,902 | ||
Agency Commercial MBS [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
US Government Agencies Debt Securities [Member] | |||
Investment securities available for sale | 1,769 | 2,025 | |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 1,769 | 2,025 | |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | |||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 1,769 | 2,025 | |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
US States and Political Subdivisions Debt Securities [Member] | |||
Investment securities available for sale | 179,501 | 183,411 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 179,501 | 183,411 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 179,501 | 183,411 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
Asset-backed Securities [Member] | |||
Investment securities available for sale | 695 | ||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 695 | ||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | |||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 695 | ||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
FHLMC and FNMA Stock [Member] | |||
Investment securities available for sale | [1],[2] | 9,560 | 10,869 |
FHLMC and FNMA Stock [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 9,560 | 10,869 | |
FHLMC and FNMA Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | 13 | 17 | |
FHLMC and FNMA Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 9,547 | 10,852 | |
FHLMC and FNMA Stock [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
Domestic Corporate Debt Securities [Member] | |||
Investment securities available for sale | 1,036,089 | 860,857 | |
Domestic Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 1,036,089 | 860,857 | |
Domestic Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | |||
Domestic Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 1,036,089 | 860,857 | |
Domestic Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
Other Securities [Member] | |||
Investment securities available for sale | 1,814 | 2,471 | |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Investment securities available for sale | 1,814 | 2,471 | |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Investment securities available for sale | 656 | ||
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Investment securities available for sale | 1,814 | 1,815 | |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Investment securities available for sale | |||
[1] | Federal Home Loan Mortgage Corporation | ||
[2] | Federal National Mortgage Association |
Note 9 - Fair Value Measureme57
Note 9 - Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value | $ 12,247 | $ 12,620 |
Total Losses | (219) | (705) |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | ||
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | ||
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | 12,247 | 12,620 |
Other Real Estate Owned [Member] | ||
Fair Value | 1,426 | 3,095 |
Total Losses | (219) | (705) |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | 1,426 | 3,095 |
Impaired Loans [Member] | ||
Fair Value | 10,821 | 9,525 |
Total Losses | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value | ||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value | $ 10,821 | $ 9,525 |
Note 9 - Fair Value Measureme58
Note 9 - Fair Value Measurements - Fair Value Estimates for Financial Instruments, Excluding Financial Instruments Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Investment securities held to maturity | $ 1,208,279 | $ 1,340,741 |
Reported Value Measurement [Member] | ||
Cash and due from banks | 561,757 | 462,271 |
Investment securities held to maturity | 1,204,240 | 1,346,312 |
Loans | 1,261,154 | 1,326,757 |
Deposits | 4,734,580 | 4,704,741 |
Short-term borrowed funds | 66,337 | 59,078 |
Estimate of Fair Value Measurement [Member] | ||
Cash and due from banks | 561,757 | 462,271 |
Investment securities held to maturity | 1,208,279 | 1,340,741 |
Loans | 1,264,503 | 1,337,774 |
Deposits | 4,731,990 | 4,702,797 |
Short-term borrowed funds | 66,337 | 59,078 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 561,757 | 462,271 |
Investment securities held to maturity | ||
Loans | ||
Deposits | ||
Short-term borrowed funds | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | ||
Investment securities held to maturity | 1,208,279 | 1,340,741 |
Loans | ||
Deposits | 4,492,655 | 4,448,571 |
Short-term borrowed funds | 66,337 | 59,078 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | ||
Investment securities held to maturity | ||
Loans | 1,264,503 | 1,337,774 |
Deposits | 239,335 | 254,226 |
Short-term borrowed funds |
Note 10 - Commitments and Con59
Note 10 - Commitments and Contingent Liabilities (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Unfunded Loan Commitments | $ 307,269 | $ 304,508 |
Other Liabilities [Member] | ||
Reserve for Unfunded Commitments | 2,308 | 2,408 |
Financial Standby Letter of Credit [Member] | ||
Letters of Credit Outstanding, Amount | 19,956 | 21,732 |
Commercial Standby Letters of Credit [Member] | ||
Letters of Credit Outstanding, Amount | $ 0 | $ 0 |
Note 11 - Earnings Per Common60
Note 11 - Earnings Per Common Share (Details Textual) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Employee Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 376 | 771 | 343 | 948 |
Note 11 - Earnings Per Common61
Note 11 - Earnings Per Common Share - Earnings Per Common Share and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Net income applicable to common equity (numerator) | $ 15,017 | $ 15,628 | $ 45,865 | $ 44,400 |
Average Common Shares Outstanding (in shares) | 26,309 | 25,641 | 26,260 | 25,558 |
Basic earnings (in dollars per share) | $ 0.57 | $ 0.61 | $ 1.75 | $ 1.74 |
Add common stock equivalents for options (in shares) | 95 | 46 | 119 | 37 |
Weighted average number of common shares outstanding - diluted (denominator) (in shares) | 26,404 | 25,687 | 26,379 | 25,595 |
Diluted earnings (in dollars per share) | $ 0.57 | $ 0.61 | $ 1.74 | $ 1.73 |