Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 07, 2013 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'FIRST BUSEY CORP /NV/ | ' |
Entity Central Index Key | '0000314489 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 86,764,130 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks (interest-bearing 2013 $80,209; 2012 $235,428) | $198,668 | $351,255 |
Securities available for sale, at fair value | 907,422 | 1,001,497 |
Securities held to maturity, at amortized cost | 838 | ' |
Loans held for sale | 17,500 | 40,003 |
Loans (net of allowance for loan losses 2013 $47,964; 2012 $48,012) | 2,185,141 | 1,985,095 |
Premises and equipment | 67,148 | 71,067 |
Goodwill | 20,686 | 20,686 |
Other intangible assets | 10,354 | 12,703 |
Cash surrender value of bank owned life insurance | 40,400 | 39,485 |
Other real estate owned (OREO) | 2,156 | 3,450 |
Deferred tax asset, net | 37,674 | 39,373 |
Other assets | 44,037 | 53,442 |
Total assets | 3,532,024 | 3,618,056 |
Deposits: | ' | ' |
Non-interest-bearing | 543,746 | 611,043 |
Interest-bearing | 2,336,106 | 2,369,249 |
Total deposits | 2,879,852 | 2,980,292 |
Securities sold under agreements to repurchase | 156,510 | 139,024 |
Long-term debt | ' | 7,000 |
Junior subordinated debt owed to unconsolidated trusts | 55,000 | 55,000 |
Other liabilities | 26,283 | 27,943 |
Total liabilities | 3,117,645 | 3,209,259 |
Stockholders' Equity | ' | ' |
Series C Preferred stock, $.001 par value, 72,664 shares authorized, issued and outstanding, $1,000.00 liquidation value per share | 72,664 | 72,664 |
Common stock, $.001 par value, authorized 200,000,000 shares; shares issued - 88,287,132 | 88 | 88 |
Additional paid-in capital | 593,458 | 594,411 |
Accumulated deficit | -228,222 | -240,321 |
Accumulated other comprehensive income | 6,361 | 13,542 |
Total stockholders' equity before treasury stock | 444,349 | 440,384 |
Common stock shares held in treasury at cost - 2013 1,523,002; 2012 1,616,282 | -29,970 | -31,587 |
Total stockholders' equity | 414,379 | 408,797 |
Total liabilities and stockholders' equity | $3,532,024 | $3,618,056 |
Common shares outstanding at period end | 86,764,130 | 86,670,850 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
CONSOLIDATED BALANCE SHEETS | ' | ' |
Cash and due from banks, interest-bearing (in dollars) | $80,209 | $235,428 |
Loans, allowance for loan losses (in dollars) | $47,964 | $48,012 |
Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 72,664 | 72,664 |
Preferred stock, shares issued | 72,664 | 72,664 |
Preferred stock, shares outstanding | 72,664 | 72,664 |
Preferred stock, liquidation value (in dollars per share) | $1,000 | $1,000 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 88,287,132 | 88,287,132 |
Common stock shares held in treasury | 1,523,002 | 1,616,282 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest income: | ' | ' | ' | ' |
Interest and fees on loans | $23,096 | $24,412 | $69,257 | $74,450 |
Interest and dividends on investment securities: | ' | ' | ' | ' |
Taxable interest income | 3,162 | 3,610 | 9,616 | 11,215 |
Non-taxable interest income | 978 | 989 | 2,938 | 2,667 |
Total interest income | 27,236 | 29,011 | 81,811 | 88,332 |
Interest expense: | ' | ' | ' | ' |
Deposits | 1,656 | 2,960 | 5,577 | 10,026 |
Securities sold under agreements to repurchase | 44 | 63 | 128 | 217 |
Short-term borrowings | ' | 8 | 15 | 26 |
Long-term debt | ' | 106 | 125 | 552 |
Junior subordinated debt owed to unconsolidated trusts | 303 | 329 | 905 | 994 |
Total interest expense | 2,003 | 3,466 | 6,750 | 11,815 |
Net interest income | 25,233 | 25,545 | 75,061 | 76,517 |
Provision for loan losses | 2,000 | 3,500 | 6,000 | 13,000 |
Net interest income after provision for loan losses | 23,233 | 22,045 | 69,061 | 63,517 |
Other income: | ' | ' | ' | ' |
Trust fees | 4,035 | 3,960 | 13,956 | 13,245 |
Commissions and brokers' fees, net | 710 | 508 | 1,819 | 1,578 |
Remittance processing | 2,105 | 2,068 | 6,288 | 6,346 |
Service charges on deposit accounts | 3,126 | 2,962 | 8,876 | 8,646 |
Other service charges and fees | 1,486 | 1,422 | 4,452 | 4,246 |
Gain on sales of loans | 2,684 | 3,255 | 8,944 | 8,924 |
Security gains, net | 82 | 511 | 82 | 575 |
Other | 1,402 | 903 | 3,637 | 5,679 |
Total other income | 15,630 | 15,589 | 48,054 | 49,239 |
Other expense: | ' | ' | ' | ' |
Salaries and wages | 13,001 | 13,707 | 39,342 | 38,966 |
Employee benefits | 2,580 | 2,773 | 8,754 | 8,791 |
Net occupancy expense of premises | 2,055 | 2,237 | 6,340 | 6,598 |
Furniture and equipment expense | 1,211 | 1,276 | 3,687 | 3,858 |
Data processing | 2,606 | 3,568 | 7,813 | 8,366 |
Amortization of intangible assets | 783 | 827 | 2,349 | 2,481 |
Regulatory expense | 545 | 623 | 1,808 | 1,869 |
OREO expense (income) | -207 | 273 | 394 | 788 |
Other | 4,784 | 5,110 | 14,239 | 15,658 |
Total other expense | 27,358 | 30,394 | 84,726 | 87,375 |
Income before income taxes | 11,505 | 7,240 | 32,389 | 25,381 |
Income taxes | 3,572 | 2,331 | 10,583 | 7,941 |
Net income | 7,933 | 4,909 | 21,806 | 17,440 |
Preferred stock dividends | 909 | 909 | 2,725 | 2,725 |
Net income available to common stockholders | $7,024 | $4,000 | $19,081 | $14,715 |
Basic earnings per common share (in dollars per share) | $0.08 | $0.05 | $0.22 | $0.17 |
Diluted earnings per common share (in dollars per share) | $0.08 | $0.05 | $0.22 | $0.17 |
Dividends declared per share of common stock (in dollars per share) | $0.04 | $0.04 | $0.08 | $0.12 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ' | ' | ' | ' |
Net income | $7,933 | $4,909 | $21,806 | $17,440 |
Unrealized net (losses) gains on securities: | ' | ' | ' | ' |
Unrealized net holding gains (losses) arising during period | 1,092 | 3,285 | -12,125 | 5,554 |
Reclassification adjustment for (gains) included in net income | -82 | -511 | -82 | -575 |
Other comprehensive (loss) income, before tax | 1,010 | 2,774 | -12,207 | 4,979 |
Income tax (benefit) expense related to items of other comprehensive income | 416 | 1,142 | -5,026 | 2,050 |
Other comprehensive (loss) income, net of tax | 594 | 1,632 | -7,181 | 2,929 |
Comprehensive income | $8,527 | $6,541 | $14,625 | $20,369 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Total | Preferred Stock | Common Stock | Surplus | Retained Earnings (Deficit) | Accumulated Other Comprehensive Income | Treasury Stock | Unearned ESOP Shares |
In Thousands, unless otherwise specified | ||||||||
Balance at Dec. 31, 2011 | $409,267 | $72,664 | $88 | $594,009 | ($238,085) | $13,124 | ($32,116) | ($417) |
Increase (decrease) in shareholders' equity | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 17,440 | ' | ' | ' | 17,440 | ' | ' | ' |
Other comprehensive income (loss) | 2,929 | ' | ' | ' | ' | 2,929 | ' | ' |
Issuance of treasury stock for employee stock purchase plan | 80 | ' | ' | -219 | ' | ' | 299 | ' |
Net Issuance of treasury stock for restricted stock unit vesting and related tax benefit | 3 | ' | ' | -115 | ' | ' | 118 | ' |
Cash dividends common stock at $0.08 and $0.12 per share for the nine months ended September 30, 2013 and 2012, respectively | -10,395 | ' | ' | ' | -10,395 | ' | ' | ' |
Stock dividend equivalents restricted stock units at $0.08 and $0.12 per share for the nine months ended September 30, 2013 and 2012, respectively | ' | ' | ' | 73 | -73 | ' | ' | ' |
Stock based employee compensation | 722 | ' | ' | 722 | ' | ' | ' | ' |
Preferred stock dividends | -2,725 | ' | ' | ' | -2,725 | ' | ' | ' |
Balance at Sep. 30, 2012 | 417,321 | 72,664 | 88 | 594,470 | -233,838 | 16,053 | -31,699 | -417 |
Balance at Dec. 31, 2012 | 408,797 | 72,664 | 88 | 594,411 | -240,321 | 13,542 | -31,587 | ' |
Increase (decrease) in shareholders' equity | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 21,806 | ' | ' | ' | 21,806 | ' | ' | ' |
Other comprehensive income (loss) | -7,181 | ' | ' | ' | ' | -7,181 | ' | ' |
Issuance of treasury stock for employee stock purchase plan | 82 | ' | ' | -234 | ' | ' | 316 | ' |
Net Issuance of treasury stock for restricted stock unit vesting and related tax benefit | -113 | ' | ' | -1,414 | ' | ' | 1,301 | ' |
Cash dividends common stock at $0.08 and $0.12 per share for the nine months ended September 30, 2013 and 2012, respectively | -6,937 | ' | ' | ' | -6,937 | ' | ' | ' |
Stock dividend equivalents restricted stock units at $0.08 and $0.12 per share for the nine months ended September 30, 2013 and 2012, respectively | ' | ' | ' | 45 | -45 | ' | ' | ' |
Stock based employee compensation | 650 | ' | ' | 650 | ' | ' | ' | ' |
Preferred stock dividends | -2,725 | ' | ' | ' | -2,725 | ' | ' | ' |
Balance at Sep. 30, 2013 | $414,379 | $72,664 | $88 | $593,458 | ($228,222) | $6,361 | ($29,970) | ' |
CONSOLIDATED_STATEMENTS_OF_STO1
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY | ' | ' |
Cash dividends, common stock (in dollars per share) | $0.08 | $0.12 |
Stock dividends, restricted stock units (in dollars per share) | $0.08 | $0.12 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash Flows from Operating Activities | ' | ' |
Net income | $21,806 | $17,440 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Stock-based and non-cash compensation | 650 | 722 |
Depreciation and amortization | 6,494 | 6,507 |
Provision for loan losses | 6,000 | 13,000 |
Provision for deferred income taxes | 6,725 | 7,205 |
Amortization of security premiums and discounts, net | 6,821 | 7,166 |
Net security gains | -82 | -575 |
Gain on sales of loans, net | -8,944 | -8,924 |
Net (gains) losses on disposition of premises and equipment | -796 | 72 |
Net gains on sales of OREO properties | -1 | -248 |
Increase in cash surrender value of bank owned life insurance | -915 | -1,399 |
Change in assets and liabilities: | ' | ' |
Decrease in other assets | 9,177 | 2,830 |
Decrease in other liabilities | -1,192 | -796 |
Decrease in interest payable | -386 | -592 |
Decrease in income taxes receivable | 228 | 1,105 |
Net cash provided by operating activities before activities for loans originated for sale | 45,585 | 43,513 |
Loans originated for sale | -390,125 | -419,249 |
Proceeds from sales of loans | 421,572 | 419,007 |
Net cash provided by operating activities | 77,032 | 43,271 |
Cash Flows from Investing Activities | ' | ' |
Proceeds from sales of securities classified available for sale | 10,229 | 55,599 |
Proceeds from maturities of securities classified available for sale | 143,258 | 140,785 |
Purchase of securities classified available for sale | -78,358 | -330,434 |
Purchase of securities held to maturity | -838 | ' |
Net increase in loans | -207,063 | -6,117 |
Proceeds from disposition of premises and equipment | 2,849 | 5 |
Proceeds from sale of OREO properties | 2,312 | 9,229 |
Purchases of premises and equipment | -2,279 | -6,919 |
Net cash used in investing activities | -129,890 | -137,852 |
Cash Flows from Financing Activities | ' | ' |
Net decrease in certificates of deposit | -82,944 | -87,513 |
Net (decrease) increase in demand, money market and savings deposits | -17,496 | 216,583 |
Cash dividends paid | -9,662 | -13,120 |
Shares surrendered upon vesting of restricted stock units to cover tax obligations | -113 | ' |
Principal payments on long-term debt | -7,000 | -12,000 |
Net increase in securities sold under agreements to repurchase | 17,486 | 3,886 |
Net cash (used in) provided by financing activities | -99,729 | 107,836 |
Net (decrease) increase in cash and due from banks | -152,587 | 13,255 |
Cash and due from banks, beginning | 351,255 | 315,053 |
Cash and due from banks, ending | 198,668 | 328,308 |
Cash payments for: | ' | ' |
Interest | 7,136 | 12,408 |
Income taxes | 3,406 | 630 |
Non-cash investing and financing activities: | ' | ' |
Other real estate acquired in settlement of loans | 1,017 | 9,015 |
Dividends accrued | $926 | $924 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Basis of Presentation | ' |
Basis of Presentation | ' |
Note 1: Basis of Presentation | |
The accompanying unaudited consolidated interim financial statements of First Busey Corporation (the “Company”), a Nevada corporation, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for Quarterly Reports on Form 10-Q and do not include certain information and footnote disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete annual financial statements. Accordingly, these financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
The accompanying consolidated balance sheet as of December 31, 2012, which has been derived from audited financial statements, and the unaudited consolidated interim financial statements have been prepared in accordance with U.S. GAAP and reflect all adjustments that are, in the opinion of management, necessary for the fair presentation of the financial position and results of operations for the periods presented. All such adjustments are of a normal recurring nature. The results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. | |
The consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany transactions and balances have been eliminated in consolidation. Certain prior year amounts have been reclassified to conform to the current presentation with no effect on net income or stockholders’ equity. | |
In preparing the accompanying consolidated financial statements, the Company’s management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. Material estimates which are particularly susceptible to significant change in the near term relate to the fair value of investment securities, the determination of the allowance for loan losses, and the valuation allowance on the deferred tax asset. | |
The Company has evaluated subsequent events for potential recognition and/or disclosure through the date the consolidated financial statements included in this Quarterly Report on Form 10-Q were issued. There were no significant subsequent events for the quarter ended September 30, 2013 through the issuance date of these financial statements that warranted adjustment to or disclosure in the consolidated financial statements. | |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | ' |
Note 2: Recent Accounting Pronouncements | |
The Company reviews new accounting standards as issued. Information relating to accounting pronouncements issued and applicable to the Company in 2012 appear in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The Company has not identified any guidance that will have a material effect on our financial reporting that merits discussion. | |
Securities
Securities | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Securities | ' | |||||||||||||||||||
Securities | ' | |||||||||||||||||||
Note 3: Securities | ||||||||||||||||||||
Securities are classified as held to maturity when First Busey has the ability and management has the positive intent to hold those securities to maturity. Accordingly, they are stated at cost, adjusted for amortization of premiums and accretion of discounts. Securities are classified as available for sale when First Busey may decide to sell those securities due to changes in market interest rates, liquidity needs, changes in yields on alternative investments, and for other reasons. They are carried at fair value with unrealized gains and losses, net of taxes, reported in other comprehensive income. | ||||||||||||||||||||
The amortized cost, unrealized gains and losses and fair values of securities classified available for sale and held to maturity are summarized as follows: | ||||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
September 30, 2013: | Cost | Gains | Losses | Value | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Available for sale | ||||||||||||||||||||
U.S. Treasury securities | $ | 103,024 | $ | 385 | $ | (71 | ) | $ | 103,338 | |||||||||||
Obligations of U.S. government corporations and agencies | 285,452 | 3,258 | (341 | ) | 288,369 | |||||||||||||||
Obligations of states and political subdivisions | 292,492 | 3,258 | (2,463 | ) | 293,287 | |||||||||||||||
Residential mortgage-backed securities | 185,584 | 4,802 | (253 | ) | 190,133 | |||||||||||||||
Corporate debt securities | 25,407 | 115 | (32 | ) | 25,490 | |||||||||||||||
Total debt securities | 891,959 | 11,818 | (3,160 | ) | 900,617 | |||||||||||||||
Mutual funds and other equity securities | 4,650 | 2,155 | — | 6,805 | ||||||||||||||||
Total | $ | 896,609 | $ | 13,973 | $ | (3,160 | ) | $ | 907,422 | |||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
September 30, 2013: | Cost | Gains | Losses | Value | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Held to maturity | ||||||||||||||||||||
Obligations of states and political subdivisions | $ | 838 | $ | 6 | $ | — | $ | 844 | ||||||||||||
Total | $ | 838 | $ | 6 | $ | — | $ | 844 | ||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
December 31, 2012: | Cost | Gains | Losses | Value | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Available for sale | ||||||||||||||||||||
U.S. Treasury securities | $ | 103,353 | $ | 1,303 | $ | — | $ | 104,656 | ||||||||||||
Obligations of U.S. government corporations and agencies | 363,583 | 6,616 | (5 | ) | 370,194 | |||||||||||||||
Obligations of states and political subdivisions | 274,350 | 6,176 | (238 | ) | 280,288 | |||||||||||||||
Residential mortgage-backed securities | 210,139 | 7,576 | — | 217,715 | ||||||||||||||||
Corporate debt securities | 24,601 | 139 | (26 | ) | 24,714 | |||||||||||||||
Total debt securities | 976,026 | 21,810 | (269 | ) | 997,567 | |||||||||||||||
Mutual funds and other equity securities | 2,451 | 1,479 | — | 3,930 | ||||||||||||||||
Total | $ | 978,477 | $ | 23,289 | $ | (269 | ) | $ | 1,001,497 | |||||||||||
There were no held to maturity securities at December 31, 2012. | ||||||||||||||||||||
The amortized cost and fair value of debt securities available for sale and held to maturity as of September 30, 2013, by contractual maturity, are shown below. Mutual funds and other equity securities do not have stated maturity dates and therefore are not included in the following maturity summary. Mortgages underlying the residential mortgage-backed securities may be called or prepaid without penalties; therefore, actual maturities could differ from the contractual maturities. All residential mortgage-backed securities were issued by U.S. government agencies and corporations. | ||||||||||||||||||||
Available for sale | Held to maturity | |||||||||||||||||||
Amortized | Fair | Amortized | Fair | |||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||
(dollars in thousands) | (dollars in thousands) | |||||||||||||||||||
Due in one year or less | $ | 151,701 | $ | 152,776 | $ | — | $ | — | ||||||||||||
Due after one year through five years | 478,362 | 481,436 | 234 | 235 | ||||||||||||||||
Due after five years through ten years | 182,805 | 185,574 | 496 | 499 | ||||||||||||||||
Due after ten years | 79,091 | 80,831 | 108 | 110 | ||||||||||||||||
Total | $ | 891,959 | $ | 900,617 | $ | 838 | $ | 844 | ||||||||||||
Realized gains and losses related to sales of securities available for sale are summarized as follows: | ||||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Gross security gains | $ | 82 | $ | 511 | ||||||||||||||||
Gross security (losses) | — | — | ||||||||||||||||||
Net security gains | $ | 82 | $ | 511 | ||||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Gross security gains | $ | 82 | $ | 576 | ||||||||||||||||
Gross security (losses) | — | (1 | ) | |||||||||||||||||
Net security gains | $ | 82 | $ | 575 | ||||||||||||||||
The tax provision for the net realized gains was insignificant for the three and nine months ended September 30, 2013 and $0.2 million for the three and nine months ended September 30, 2012. | ||||||||||||||||||||
Investment securities with carrying amounts of $428.7 million and $489.1 million on September 30, 2013 and December 31, 2012, respectively, were pledged as collateral for public deposits, securities sold under agreements to repurchase and for other purposes as required or permitted by law. | ||||||||||||||||||||
Information pertaining to securities with gross unrealized losses at September 30, 2013 and December 31, 2012 aggregated by investment category and length of time that individual securities have been in a continuous loss position follows: | ||||||||||||||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
September 30, 2013: | Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Available for sale | ||||||||||||||||||||
U.S. Treasury securities | $ | 36,520 | $ | 71 | $ | — | $ | — | $ | 36,520 | $ | 71 | ||||||||
Obligations of U.S. government corporations and agencies | 25,264 | 341 | — | — | 25,264 | 341 | ||||||||||||||
Obligations of states and political subdivisions | 116,930 | 2,399 | 4,582 | 64 | 121,512 | 2,463 | ||||||||||||||
Residential mortgage-backed securities | 15,183 | 253 | — | — | 15,183 | 253 | ||||||||||||||
Corporate debt securities | 9,354 | 32 | — | — | 9,354 | 32 | ||||||||||||||
Total temporarily impaired securities | $ | 203,251 | $ | 3,096 | $ | 4,582 | $ | 64 | $ | 207,833 | $ | 3,160 | ||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
September 30, 2013: | Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Held to maturity | ||||||||||||||||||||
Obligations of states and political subdivisions (1) | $ | 183 | $ | — | $ | — | $ | — | $ | 183 | $ | — | ||||||||
Total temporarily impaired securities | $ | 183 | $ | — | $ | — | $ | — | $ | 183 | $ | — | ||||||||
(1) Unrealized loss was less than one thousand dollars. | ||||||||||||||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
December 31, 2012: | Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Available for sale | ||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | 10,155 | $ | 5 | $ | — | $ | — | $ | 10,155 | $ | 5 | ||||||||
Obligations of states and political subdivisions | 37,958 | 189 | 3,311 | 49 | 41,269 | 238 | ||||||||||||||
Corporate debt securities | 15,207 | 26 | — | — | 15,207 | 26 | ||||||||||||||
Total temporarily impaired securities | $ | 63,320 | $ | 220 | $ | 3,311 | $ | 49 | $ | 66,631 | $ | 269 | ||||||||
Management evaluates securities available for sale for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the length of time and extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and whether the Company has the intent to sell the security and it is more-likely-than-not we will have to sell the security before recovery of its cost basis. | ||||||||||||||||||||
The total number of securities in the investment portfolio in an unrealized loss position as of September 30, 2013 was 312, and represented a loss of 1.5% of the aggregate carrying value. Based upon a review of unrealized loss circumstances, the unrealized losses resulted from changes in market interest rates and liquidity, not from changes in the probability of receiving the contractual cash flows. The Company does not intend to sell the securities and it is more-likely-than-not that the Company will recover the amortized cost prior to being required to sell the securities. Full collection of the amounts due according to the contractual terms of the securities is expected; therefore, the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2013. | ||||||||||||||||||||
Loans
Loans | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Loans | ' | |||||||||||||||||||
Loans | ' | |||||||||||||||||||
Note 4: Loans | ||||||||||||||||||||
Geographic distributions of loans were as follows: | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Illinois | Florida | Indiana | Total | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Commercial | $ | 511,567 | $ | 21,544 | $ | 26,444 | $ | 559,555 | ||||||||||||
Commercial real estate | 808,708 | 170,205 | 86,067 | 1,064,980 | ||||||||||||||||
Real estate construction | 56,590 | 11,828 | 2,630 | 71,048 | ||||||||||||||||
Retail real estate | 429,497 | 104,100 | 11,618 | 545,215 | ||||||||||||||||
Retail other | 9,195 | 514 | 98 | 9,807 | ||||||||||||||||
Total | $ | 1,815,557 | $ | 308,191 | $ | 126,857 | $ | 2,250,605 | ||||||||||||
Less held for sale(1) | 17,500 | |||||||||||||||||||
$ | 2,233,105 | |||||||||||||||||||
Less allowance for loan losses | 47,964 | |||||||||||||||||||
Net loans | $ | 2,185,141 | ||||||||||||||||||
(1)Loans held for sale are included in retail real estate. | ||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Illinois | Florida | Indiana | Total | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Commercial | $ | 399,300 | $ | 10,861 | $ | 23,527 | $ | 433,688 | ||||||||||||
Commercial real estate | 777,752 | 138,170 | 65,210 | 981,132 | ||||||||||||||||
Real estate construction | 67,152 | 15,972 | 2,977 | 86,101 | ||||||||||||||||
Retail real estate | 435,911 | 112,052 | 11,873 | 559,836 | ||||||||||||||||
Retail other | 11,831 | 409 | 113 | 12,353 | ||||||||||||||||
Total | $ | 1,691,946 | $ | 277,464 | $ | 103,700 | $ | 2,073,110 | ||||||||||||
Less held for sale(1) | 40,003 | |||||||||||||||||||
$ | 2,033,107 | |||||||||||||||||||
Less allowance for loan losses | 48,012 | |||||||||||||||||||
Net loans | $ | 1,985,095 | ||||||||||||||||||
(1) Loans held for sale are included in retail real estate. | ||||||||||||||||||||
Net deferred loan origination costs included in the tables above were $0.4 million and $0.8 million as of September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||
The Company believes that sound loans are a necessary and desirable means of employing funds available for investment. Recognizing the Company’s obligations to its stockholders, depositors, and to the communities it serves, authorized personnel are expected to seek to develop and make sound, profitable loans that resources permit and that opportunity affords. The Company maintains lending policies and procedures designed to focus lending efforts on the types, locations and duration of loans most appropriate for its business model and markets. While not specifically limited, the Company attempts to focus its lending on short to intermediate-term (0-7 years) loans in geographies within 125 miles of its lending offices. The Company attempts to utilize government assisted lending programs, such as the Small Business Administration and United States Department of Agriculture lending programs, when prudent. Generally, loans are collateralized by assets, primarily real estate, of the borrowers and guaranteed by individuals. The loans are expected to be repaid primarily from cash flows of the borrowers, or from proceeds from the sale of selected assets of the borrowers. | ||||||||||||||||||||
Management reviews and approves the Company’s lending policies and procedures on a routine basis. Management routinely (at least quarterly) reviews the Company’s allowance for loan losses and reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing and potential problem loans. The Company’s underwriting standards are designed to encourage relationship banking rather than transactional banking. Relationship banking implies a primary banking relationship with the borrower that includes, at a minimum, an active deposit banking relationship in addition to the lending relationship. The integrity and character of the borrower are significant factors in the Company’s loan underwriting. As a part of underwriting, tangible positive or negative evidence of the borrower’s integrity and character are sought out. Additional significant underwriting factors beyond location, duration, a sound and profitable cash flow basis and the borrower’s character are the quality of the borrower’s financial history, the liquidity of the underlying collateral and the reliability of the valuation of the underlying collateral. | ||||||||||||||||||||
Total borrowing relationships, including direct and indirect debt, are generally limited to $20 million, which is significantly less than the Company’s regulatory lending limit. Borrowing relationships exceeding $20 million are reviewed by the Company’s board of directors at least annually and more frequently by management. At no time is a borrower’s total borrowing relationship permitted to exceed the Company’s regulatory lending limit. Loans to related parties, including executive officers and the Company’s various directorates, are reviewed for compliance with regulatory guidelines and by the Company’s board of directors at least annually. | ||||||||||||||||||||
The Company maintains an independent loan review department that reviews the loans for compliance with the Company’s loan policy on a periodic basis. In addition to compliance with this policy, the loan review process reviews the risk assessments made by the Company’s credit department, lenders and loan committees. Results of these reviews are presented to management and the audit committee at least quarterly. | ||||||||||||||||||||
The Company’s lending can be summarized into five primary areas: commercial loans, commercial real estate loans, real estate construction loans, retail real estate loans, and other retail loans. A description of each of the lending areas can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The significant majority of the lending activity occurs in the Company’s Illinois and Indiana markets, with the remainder in the Florida market. Due to the small scale of the Indiana loan portfolio and its geographical proximity to the Illinois portfolio, the Company believes that quantitative or qualitative segregation between Illinois and Indiana is not material or warranted. | ||||||||||||||||||||
The Company utilizes a loan grading scale to assign a risk grade to all of its loans. Loans are graded on a scale of 1 through 10 with grades 2, 4 & 5 unused. A description of the general characteristics of the grades is as follows: | ||||||||||||||||||||
· Grades 1, 3, 6 — These grades include loans which are all considered strong credits, with grade 1 being investment or near investment grade. A grade 3 loan is comprised of borrowers that exhibit credit fundamentals that exceed industry standards and loan policy guidelines. A grade 6 loan is comprised of borrowers that exhibit acceptable credit fundamentals. | ||||||||||||||||||||
· Grade 7- This grade includes loans on management’s “Watch List” and is intended to be utilized on a temporary basis for a pass grade borrower where a significant risk-modifying action is anticipated in the near future. | ||||||||||||||||||||
· Grade 8- This grade is for “Other Assets Especially Mentioned” loans that have potential weaknesses which may, if not checked or corrected, weaken the asset or inadequately protect the Company’s credit position at some future date. | ||||||||||||||||||||
· Grade 9- This grade includes “Substandard” loans, in accordance with regulatory guidelines, for which the accrual of interest has not been stopped. Assets so classified must have well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||
· Grade 10- This grade includes “Doubtful” loans that have all the characteristics of a substandard loan with additional factors that make collection in full highly questionable and improbable. Such loans are placed on non-accrual status and may be dependent on collateral having a value that is difficult to determine. | ||||||||||||||||||||
All loans are graded at the inception of the loan. All commercial and commercial real estate loans above $0.5 million with a grading of 7 are reviewed annually and grade changes are made as necessary. All real estate construction loans above $0.5 million, regardless of the grade, are reviewed annually and grade changes are made as necessary. Interim grade reviews may take place if circumstances of the borrower warrant a more timely review. All loans above $0.5 million which are graded 8 are reviewed quarterly. Further, all loans graded 9 or 10 are reviewed at least quarterly. | ||||||||||||||||||||
Loans in the highest grades, represented by grades 1, 3, 6 and 7, totaled $2.1 billion at September 30, 2013 which increased from $1.8 billion at December 31, 2012. Loans in the lowest grades, represented by grades 8, 9 and 10, totaled $177.1 million at September 30, 2013, a decline from $228.1 million at December 31, 2012. The positive change in mix of loan grades began in 2012 and suggests a declining level of overall risk in the total loan portfolio. | ||||||||||||||||||||
The following table presents weighted average risk grades segregated by class of loans (excluding held for sale, non-posted and clearings) and geography: | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Weighted Avg. | Grades | Grade | Grade | Grade | Grade | |||||||||||||||
Risk Grade | 1,3,6 | 7 | 8 | 9 | 10 | |||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | 4.7 | $ | 466,334 | $ | 46,901 | $ | 14,199 | $ | 9,073 | $ | 1,504 | |||||||||
Commercial real estate | 5.53 | 746,360 | 85,757 | 29,436 | 26,779 | 6,443 | ||||||||||||||
Real estate construction | 7.24 | 17,759 | 16,365 | 12,420 | 10,166 | 2,510 | ||||||||||||||
Retail real estate | 3.55 | 399,303 | 5,717 | 5,402 | 6,130 | 3,795 | ||||||||||||||
Retail other | 2.98 | 9,134 | 154 | — | 5 | — | ||||||||||||||
Total Illinois/Indiana | $ | 1,638,890 | $ | 154,894 | $ | 61,457 | $ | 52,153 | $ | 14,252 | ||||||||||
Florida | ||||||||||||||||||||
Commercial | 5.85 | $ | 17,311 | $ | 244 | $ | 3,301 | $ | 688 | $ | — | |||||||||
Commercial real estate | 6.19 | 119,046 | 21,299 | 11,531 | 15,179 | 3,150 | ||||||||||||||
Real estate construction | 7.04 | 2,026 | 8,097 | 767 | 938 | — | ||||||||||||||
Retail real estate | 3.84 | 78,082 | 11,380 | 9,500 | 3,070 | 1,087 | ||||||||||||||
Retail other | 1.75 | 514 | — | — | — | — | ||||||||||||||
Total Florida | $ | 216,979 | $ | 41,020 | $ | 25,099 | $ | 19,875 | $ | 4,237 | ||||||||||
Total | $ | 1,855,869 | $ | 195,914 | $ | 86,556 | $ | 72,028 | $ | 18,489 | ||||||||||
December 31, 2012 | ||||||||||||||||||||
Weighted Avg. | Grades | Grade | Grade | Grade | Grade | |||||||||||||||
Risk Grade | 1,3,6 | 7 | 8 | 9 | 10 | |||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | 4.68 | $ | 346,536 | $ | 46,201 | $ | 12,374 | $ | 15,677 | $ | 2,039 | |||||||||
Commercial real estate | 5.53 | 644,695 | 110,012 | 50,305 | 28,655 | 9,295 | ||||||||||||||
Real estate construction | 7.21 | 30,710 | 7,809 | 14,162 | 14,084 | 3,364 | ||||||||||||||
Retail real estate | 3.62 | 385,949 | 6,729 | 7,806 | 5,874 | 2,855 | ||||||||||||||
Retail other | 3.34 | 11,563 | 372 | — | 9 | — | ||||||||||||||
Total Illinois/Indiana | $ | 1,419,453 | $ | 171,123 | $ | 84,647 | $ | 64,299 | $ | 17,553 | ||||||||||
Florida | ||||||||||||||||||||
Commercial | 5.91 | $ | 6,359 | $ | 3,544 | $ | 162 | $ | 796 | $ | — | |||||||||
Commercial real estate | 6.36 | 80,232 | 20,667 | 13,238 | 19,279 | 4,754 | ||||||||||||||
Real estate construction | 6.97 | 4,137 | 7,721 | 3,172 | 942 | — | ||||||||||||||
Retail real estate | 3.98 | 83,578 | 6,369 | 13,225 | 3,265 | 2,797 | ||||||||||||||
Retail other | 2.8 | 391 | — | 18 | — | — | ||||||||||||||
Total Florida | $ | 174,697 | $ | 38,301 | $ | 29,815 | $ | 24,282 | $ | 7,551 | ||||||||||
Total | $ | 1,594,150 | $ | 209,424 | $ | 114,462 | $ | 88,581 | $ | 25,104 | ||||||||||
Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on non-accrual status regardless of whether or not such loans are considered past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of the principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. | ||||||||||||||||||||
An age analysis of past due loans still accruing and non-accrual loans is as follows: | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Loans past due, still accruing | Non-accrual | |||||||||||||||||||
30-59 Days | 60-89 Days | 90+Days | Loans | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | $ | 337 | $ | 281 | $ | 88 | $ | 1,504 | ||||||||||||
Commercial real estate | 77 | — | 65 | 6,443 | ||||||||||||||||
Real estate construction | — | — | — | 2,510 | ||||||||||||||||
Retail real estate | 983 | 272 | 46 | 3,795 | ||||||||||||||||
Retail other | 18 | 1 | — | — | ||||||||||||||||
Total Illinois/Indiana | $ | 1,415 | $ | 554 | $ | 199 | $ | 14,252 | ||||||||||||
Florida | ||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Commercial real estate | — | — | — | 3,150 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | 314 | — | — | 1,087 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | $ | 314 | $ | — | $ | — | $ | 4,237 | ||||||||||||
Total | $ | 1,729 | $ | 554 | $ | 199 | $ | 18,489 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Loans past due, still accruing | Non-accrual | |||||||||||||||||||
30-59 Days | 60-89 Days | 90+Days | Loans | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | $ | 111 | $ | 80 | $ | 19 | $ | 2,039 | ||||||||||||
Commercial real estate | 216 | 59 | 139 | 9,295 | ||||||||||||||||
Real estate construction | — | — | — | 3,364 | ||||||||||||||||
Retail real estate | 1,154 | 294 | 46 | 2,855 | ||||||||||||||||
Retail other | 2 | 2 | — | — | ||||||||||||||||
Total Illinois/Indiana | $ | 1,483 | $ | 435 | $ | 204 | $ | 17,553 | ||||||||||||
Florida | ||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Commercial real estate | — | — | — | 4,754 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | 364 | — | 52 | 2,797 | ||||||||||||||||
Retail other | — | 3 | — | — | ||||||||||||||||
Total Florida | $ | 364 | $ | 3 | $ | 52 | $ | 7,551 | ||||||||||||
Total | $ | 1,847 | $ | 438 | $ | 256 | $ | 25,104 | ||||||||||||
A loan is impaired when, based on current information and events, it is probable the Company will be unable to collect scheduled principal and interest payments when due according to the terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The following loans are assessed for impairment by the Company: loans 60 days or more past due and over $0.25 million, loans graded 8 over $0.5 million and loans graded 9 or below. | ||||||||||||||||||||
Impairment is measured on a loan-by-loan basis for commercial and construction loans by either the present value of the expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogenous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment disclosures unless such loans are the subject of a restructuring agreement. | ||||||||||||||||||||
The gross interest income that would have been recorded in the three and nine months ended September 30, 2013 if impaired loans had been current in accordance with their original terms was $0.4 million and $1.1 million, respectively. The amount of interest collected on those loans and recognized on a cash basis that was included in interest income was insignificant for the three and nine months ended September 30, 2013. | ||||||||||||||||||||
The Company’s loan portfolio includes certain loans that have been modified in a troubled debt restructuring (“TDR”), where concessions have been granted to borrowers who have experienced financial difficulties. The Company will restructure loans for its customers who appear to be able to meet the terms of their loan over the long term, but who may be unable to meet the terms of the loan in the near term due to individual circumstances. | ||||||||||||||||||||
The Company considers the customer’s past performance, previous and current credit history, the individual circumstances surrounding the current difficulties and the customer’s plan to meet the terms of the loan in the future prior to restructuring the terms of the loan. Generally, all five primary areas of lending are restructured through short-term interest rate relief, short-term principal payment relief, short-term principal and interest payment relief, or forbearance (debt forgiveness). Once a restructured loan has gone 90+ days past due or is placed on non-accrual status, it is included in the non-performing loan totals. A summary of restructured loans as of September 30, 2013 and December 31, 2012 is as follows: | ||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Restructured loans: | ||||||||||||||||||||
In compliance with modified terms | $ | 12,452 | $ | 22,023 | ||||||||||||||||
30 — 89 days past due | — | 28 | ||||||||||||||||||
Included in non-performing loans | 7,431 | 6,458 | ||||||||||||||||||
Total | $ | 19,883 | $ | 28,509 | ||||||||||||||||
All TDRs are considered to be impaired for purposes of assessing the adequacy of the allowance for loan losses and for financial reporting purposes. When the Company modifies a loan in a TDR, it evaluates any possible impairment similar to other impaired loans based on present value of the expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. If the Company determines that the value of the TDR is less than the recorded investment in the loan, impairment is recognized through an allowance estimate in the period of the modification and in periods subsequent to the modification. | ||||||||||||||||||||
The following table shows performing loans, segregated by class and geography, modified as TDRs that occurred during the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, 2013 | September 30, 2013 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||
contracts | investment | contracts | investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | 1 | 218 | 1 | 218 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | — | — | — | — | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Illinois/Indiana | 1 | $ | 218 | 1 | $ | 218 | ||||||||||||||
Florida | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | — | — | 1 | 90 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | — | — | — | — | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | — | $ | — | 1 | $ | 90 | ||||||||||||||
Total | 1 | $ | 218 | 2 | $ | 308 | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, 2012 | September 30, 2012 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||
contracts | investment | contracts | investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | — | $ | — | 4 | $ | 1,455 | ||||||||||||||
Commercial real estate | 1 | 2,069 | 1 | 2,069 | ||||||||||||||||
Real estate construction | — | — | 4 | 3,170 | ||||||||||||||||
Retail real estate | 1 | 53 | 11 | 1,875 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Illinois/Indiana | 2 | $ | 2,122 | 20 | $ | 8,569 | ||||||||||||||
Florida | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | — | — | — | — | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | — | — | 2 | 704 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | — | $ | — | 2 | $ | 704 | ||||||||||||||
Total | 2 | $ | 2,122 | 22 | $ | 9,273 | ||||||||||||||
The commercial real estate TDR totaling $0.2 million for the three and nine months ended September 30, 2013 consisted of a short-term principal payment relief modification. The commercial real estate TDR totaling $0.1 million for the nine months ended September 30, 2013 consisted of a modification for short-term interest rate relief. | ||||||||||||||||||||
The commercial real estate TDR for the three months ended September 30, 2012 consisted of a short-term interest rate relief modification. The retail real estate TDR for the three months ended September 30, 2012 consisted of a short-term principal payment relief modification. The commercial TDRs for the nine months ended September 30, 2012 consisted of four modifications for short-term principal payment relief. The commercial real estate TDR for the nine months ended September 30, 2012 consisted of a modification for short-term interest rate relief. The real estate construction TDRs for the nine months ended September 30, 2012 consisted of three modifications for short-term principal payment relief totaling $0.3 million and one modification of a forbearance agreement totaling $2.9 million. The retail real estate TDRs for the nine months ended September 30, 2012 consisted of four modifications for short-term interest rate relief totaling $1.0 million and nine modifications for short-term principal payment relief totaling $1.6 million. | ||||||||||||||||||||
The gross interest income that would have been recorded in the three and nine months ended September 30, 2013 and 2012 if performing TDRs had been in accordance with their original terms instead of modified terms was insignificant. | ||||||||||||||||||||
TDRs that were classified as non-performing and had payment defaults (a default occurs when a loan is 90 days or more past due or transferred to non-accrual), segregated by class and geography, are shown below: | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, 2013 | September 30, 2013 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||
contracts | investment | contracts | investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | — | — | 1 | 1,650 | ||||||||||||||||
Real estate construction | — | — | 1 | 267 | ||||||||||||||||
Retail real estate | — | — | 4 | 1,091 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Illinois/Indiana | — | $ | — | 6 | $ | 3,008 | ||||||||||||||
Florida | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | — | — | — | — | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | 1 | 114 | 2 | 234 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | 1 | $ | 114 | 2 | $ | 234 | ||||||||||||||
Total | 1 | $ | 114 | 8 | $ | 3,242 | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, 2012 | September 30, 2012 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||
contracts | investment | contracts | investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | 5 | $ | 519 | 5 | $ | 519 | ||||||||||||||
Commercial real estate | — | — | — | — | ||||||||||||||||
Real estate construction | — | — | 1 | 1,475 | ||||||||||||||||
Retail real estate | — | — | — | — | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Illinois/Indiana | 5 | $ | 519 | 6 | $ | 1,994 | ||||||||||||||
Florida | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | 3 | 1,451 | 3 | 1,451 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | 2 | 189 | 5 | 1,085 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | 5 | $ | 1,640 | 8 | $ | 2,536 | ||||||||||||||
Total | 10 | $ | 2,159 | 14 | $ | 4,530 | ||||||||||||||
The following tables provide details of impaired loans, segregated by category and geography. The unpaid contractual principal balance represents the recorded balance prior to any partial charge-offs. The recorded investment represents customer balances net of any partial charge-offs recognized on the loan. The average recorded investment is calculated using the most recent four quarters. | ||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | |||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | |||||||||||||||
Principal | with No | with | Investment | Investment | ||||||||||||||||
Balance | Allowance | Allowance | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | $ | 3,188 | $ | 1,585 | $ | 1,227 | $ | 2,812 | $ | 847 | $ | 5,255 | ||||||||
Commercial real estate | 11,131 | 6,674 | 2,429 | 9,103 | 954 | 10,937 | ||||||||||||||
Real estate construction | 6,065 | 4,037 | 618 | 4,655 | 218 | 6,815 | ||||||||||||||
Retail real estate | 5,882 | 3,786 | 1,294 | 5,080 | 754 | 5,231 | ||||||||||||||
Retail other | — | — | — | — | — | — | ||||||||||||||
Total Illinois/Indiana | $ | 26,266 | $ | 16,082 | $ | 5,568 | $ | 21,650 | $ | 2,773 | $ | 28,238 | ||||||||
Florida | ||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 38 | ||||||||
Commercial real estate | 7,202 | 4,344 | 1,016 | 5,360 | 123 | 6,877 | ||||||||||||||
Real estate construction | 430 | 430 | — | 430 | — | 1,733 | ||||||||||||||
Retail real estate | 11,037 | 9,599 | 366 | 9,965 | 91 | 12,073 | ||||||||||||||
Retail other | — | — | — | — | — | — | ||||||||||||||
Total Florida | $ | 18,669 | $ | 14,373 | $ | 1,382 | $ | 15,755 | $ | 214 | $ | 20,721 | ||||||||
Total | $ | 44,935 | $ | 30,455 | $ | 6,950 | $ | 37,405 | $ | 2,987 | $ | 48,959 | ||||||||
December 31, 2012 | ||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | |||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | |||||||||||||||
Principal | with No | with | Investment | Investment | ||||||||||||||||
Balance | Allowance | Allowance | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | $ | 11,557 | $ | 7,214 | $ | 265 | $ | 7,479 | $ | 265 | $ | 10,109 | ||||||||
Commercial real estate | 17,656 | 12,020 | 1,288 | 13,308 | 634 | 14,607 | ||||||||||||||
Real estate construction | 6,851 | 6,394 | — | 6,394 | — | 8,625 | ||||||||||||||
Retail real estate | 6,251 | 4,666 | 530 | 5,196 | 140 | 5,206 | ||||||||||||||
Retail other | — | — | — | — | — | 24 | ||||||||||||||
Total Illinois/Indiana | $ | 42,315 | $ | 30,294 | $ | 2,083 | $ | 32,377 | $ | 1,039 | $ | 38,571 | ||||||||
Florida | ||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 271 | ||||||||
Commercial real estate | 9,533 | 5,988 | 585 | 6,573 | 235 | 6,506 | ||||||||||||||
Real estate construction | 2,597 | 2,597 | — | 2,597 | — | 3,989 | ||||||||||||||
Retail real estate | 16,518 | 12,673 | 1,373 | 14,046 | 483 | 15,254 | ||||||||||||||
Retail other | — | — | — | — | — | — | ||||||||||||||
Total Florida | $ | 28,648 | $ | 21,258 | $ | 1,958 | $ | 23,216 | $ | 718 | $ | 26,020 | ||||||||
Total | $ | 70,963 | $ | 51,552 | $ | 4,041 | $ | 55,593 | $ | 1,757 | $ | 64,591 | ||||||||
Management’s opinion as to the ultimate collectability of loans is subject to estimates regarding future cash flows from operations and the value of property, real and personal, pledged as collateral. These estimates are affected by changing economic conditions and the economic prospects of borrowers. | ||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||
The allowance for loan losses represents an estimate of the amount of losses believed inherent in the Company’s loan portfolio at the balance sheet date. The allowance for loan losses is evaluated geographically, by class of loans. The allowance calculation involves a high degree of estimation that management attempts to mitigate through the use of objective historical data where available. Loan losses are charged against the allowance for loan losses when management believes the uncollectibility of the loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Overall, the Company believes the allowance methodology is consistent with prior periods and the balance was adequate to cover the estimated losses in the Company’s loan portfolio at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||
The general portion of the Company’s allowance contains two components: (i) a component for historical loss ratios, and (ii) a component for adversely graded loans. The historical loss ratio component is an annualized loss rate calculated using a sum-of-years digits weighted 20 quarter historical average. | ||||||||||||||||||||
The Company’s component for adversely graded loans attempts to quantify the additional risk of loss inherent in the grade 8 and grade 9 portfolios. The grade 9 portfolio has an additional allocation placed on those loans determined by a one-year charge-off percentage for the respective loan type/geography. The minimum additional reserve on a grade 9 loan was 3.00% as of September 30, 2013 and December 31, 2012, which is an estimate of the additional loss inherent in these loan grades based upon a review of overall historical charge-offs. As of September 30, 2013, the Company believed this minimum reserve remained adequate. | ||||||||||||||||||||
Grade 8 loans have an additional allocation placed on them determined by the trend difference of the respective loan type/geography’s rolling 12 and 20 quarter historical loss trends. If the rolling 12 quarter average is higher (more current information) than the rolling 20 quarter average, the Company adds the additional amount to the allocation. The minimum additional amount for grade 8 loans was 1.00% as of September 30, 2013 and December 31, 2012, based upon a review of the differences between the rolling 12 and 20 quarter historical loss averages by region. As of September 30, 2013, the Company believed this minimum additional amount remained adequate. | ||||||||||||||||||||
The specific portion of the Company’s allowance relates to loans that are impaired, which includes non-performing loans, TDRs and other loans determined to be impaired. The impaired loans are subtracted from the general loans and are allocated specific reserves as discussed above. | ||||||||||||||||||||
Impaired loans are reported at the fair value of the underlying collateral, less estimated costs to sell, if repayment is expected solely from the collateral. Collateral values are estimated using a combination of observable inputs, including recent appraisals discounted for collateral specific changes and current market conditions, and unobservable inputs based on customized discounting criteria. | ||||||||||||||||||||
The general quantitative allocation based upon historical charge off rates is adjusted for qualitative factors based on current general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such valuation allowances are determined by evaluating, among other things: (i) Management & Staff; (ii) Loan Underwriting, Policy and Procedures; (iii) Internal/External Audit & Loan Review; (iv) Valuation of Underlying Collateral; (v) Macro and Local Economic Factor; (vi) Impact of Competition, Legal & Regulatory Issues; (vii) Nature and Volume of Loan Portfolio; (viii) Concentrations of Credit; (ix) Net Charge-Off Trend; and (x) Non-Accrual, Past Due and Classified Trend. Management evaluates the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. Based on each component’s risk factor, a qualitative adjustment to the reserve may be applied to the appropriate loan categories. | ||||||||||||||||||||
During the third quarter of 2013, the Company did not adjust any qualitative factors. The Company bases its assessment on several sources and will continue to monitor its qualitative factors on a quarterly basis. | ||||||||||||||||||||
The following table details activity on the allowance for loan losses. Allocation of a portion of the allowance to one category does not preclude its availability to absorb losses in other categories. | ||||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Beginning balance | $ | 7,514 | $ | 13,723 | $ | 2,514 | $ | 8,256 | $ | 240 | $ | 32,247 | ||||||||
Provision for loan loss | 363 | 316 | (241 | ) | 1,024 | 49 | 1,511 | |||||||||||||
Charged-off | (241 | ) | (44 | ) | — | (446 | ) | (117 | ) | (848 | ) | |||||||||
Recoveries | 37 | 145 | 21 | 112 | 59 | 374 | ||||||||||||||
Ending Balance | $ | 7,673 | $ | 14,140 | $ | 2,294 | $ | 8,946 | $ | 231 | $ | 33,284 | ||||||||
Florida | ||||||||||||||||||||
Beginning balance | $ | 1,505 | $ | 7,656 | $ | 2,693 | $ | 4,387 | $ | 3 | $ | 16,244 | ||||||||
Provision for loan loss | 687 | 1,504 | (1,690 | ) | (9 | ) | (3 | ) | 489 | |||||||||||
Charged-off | — | (2,298 | ) | 2 | (56 | ) | (2 | ) | (2,354 | ) | ||||||||||
Recoveries | 22 | 2 | 225 | 47 | 5 | 301 | ||||||||||||||
Ending Balance | $ | 2,214 | $ | 6,864 | $ | 1,230 | $ | 4,369 | $ | 3 | $ | 14,680 | ||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Beginning balance | $ | 6,597 | $ | 15,023 | $ | 2,527 | $ | 8,110 | $ | 322 | $ | 32,579 | ||||||||
Provision for loan loss | 1,617 | (371 | ) | 558 | 1,592 | 14 | 3,410 | |||||||||||||
Charged-off | (663 | ) | (954 | ) | (1,071 | ) | (1,068 | ) | (404 | ) | (4,160 | ) | ||||||||
Recoveries | 122 | 442 | 280 | 312 | 299 | 1,455 | ||||||||||||||
Ending Balance | $ | 7,673 | $ | 14,140 | $ | 2,294 | $ | 8,946 | $ | 231 | $ | 33,284 | ||||||||
Florida | ||||||||||||||||||||
Beginning balance | $ | 1,437 | $ | 6,062 | $ | 2,315 | $ | 5,614 | $ | 5 | $ | 15,433 | ||||||||
Provision for loan loss | 722 | 3,356 | (1,332 | ) | (143 | ) | (13 | ) | 2,590 | |||||||||||
Charged-off | — | (2,543 | ) | (55 | ) | (1,615 | ) | (7 | ) | (4,220 | ) | |||||||||
Recoveries | 55 | (11 | ) | 302 | 513 | 18 | 877 | |||||||||||||
Ending Balance | $ | 2,214 | $ | 6,864 | $ | 1,230 | $ | 4,369 | $ | 3 | $ | 14,680 | ||||||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Beginning balance | $ | 6,131 | $ | 15,373 | $ | 4,304 | $ | 7,320 | $ | 328 | $ | 33,456 | ||||||||
Provision for loan loss | 1,209 | 1,403 | 324 | (358 | ) | 59 | 2,637 | |||||||||||||
Charged-off | (1,194 | ) | (1,716 | ) | (538 | ) | (463 | ) | (128 | ) | (4,039 | ) | ||||||||
Recoveries | 15 | 6 | — | 130 | 43 | 194 | ||||||||||||||
Ending Balance | $ | 6,161 | $ | 15,066 | $ | 4,090 | $ | 6,629 | $ | 302 | $ | 32,248 | ||||||||
Florida | ||||||||||||||||||||
Beginning balance | $ | 1,871 | $ | 7,426 | $ | 2,348 | $ | 5,756 | $ | 9 | $ | 17,410 | ||||||||
Provision for loan loss | (125 | ) | 35 | (64 | ) | 1,021 | (4 | ) | 863 | |||||||||||
Charged-off | (6 | ) | (229 | ) | (176 | ) | (1,162 | ) | — | (1,573 | ) | |||||||||
Recoveries | 110 | 3 | 109 | 40 | 3 | 265 | ||||||||||||||
Ending Balance | $ | 1,850 | $ | 7,235 | $ | 2,217 | $ | 5,655 | $ | 8 | $ | 16,965 | ||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Beginning balance | $ | 9,143 | $ | 18,605 | $ | 4,352 | $ | 6,473 | $ | 464 | $ | 39,037 | ||||||||
Provision for loan loss | (281 | ) | 8,485 | 856 | 2,130 | 67 | 11,257 | |||||||||||||
Charged-off | (2,880 | ) | (12,332 | ) | (1,280 | ) | (2,517 | ) | (405 | ) | (19,414 | ) | ||||||||
Recoveries | 179 | 308 | 162 | 543 | 176 | 1,368 | ||||||||||||||
Ending Balance | $ | 6,161 | $ | 15,066 | $ | 4,090 | $ | 6,629 | $ | 302 | $ | 32,248 | ||||||||
Florida | ||||||||||||||||||||
Beginning balance | $ | 1,939 | $ | 8,413 | $ | 2,936 | $ | 6,160 | $ | 21 | $ | 19,469 | ||||||||
Provision for loan loss | (522 | ) | 428 | (644 | ) | 2,506 | (25 | ) | 1,743 | |||||||||||
Charged-off | (90 | ) | (1,649 | ) | (336 | ) | (3,247 | ) | (1 | ) | (5,323 | ) | ||||||||
Recoveries | 523 | 43 | 261 | 236 | 13 | 1,076 | ||||||||||||||
Ending Balance | $ | 1,850 | $ | 7,235 | $ | 2,217 | $ | 5,655 | $ | 8 | $ | 16,965 | ||||||||
The following table presents the allowance for loan losses and recorded investments in loans by category and geography: | ||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Amount allocated to: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | 847 | $ | 954 | $ | 218 | $ | 754 | $ | — | $ | 2,773 | ||||||||
Loans collectively evaluated for impairment | 6,826 | 13,186 | 2,076 | 8,192 | 231 | 30,511 | ||||||||||||||
Ending Balance | $ | 7,673 | $ | 14,140 | $ | 2,294 | $ | 8,946 | $ | 231 | $ | 33,284 | ||||||||
Loans: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | 2,812 | $ | 9,103 | $ | 4,655 | $ | 5,080 | $ | — | $ | 21,650 | ||||||||
Loans collectively evaluated for impairment | 535,199 | 885,672 | 54,565 | 419,517 | 9,293 | 1,904,246 | ||||||||||||||
Ending Balance | $ | 538,011 | $ | 894,775 | $ | 59,220 | $ | 424,597 | $ | 9,293 | $ | 1,925,896 | ||||||||
Florida | ||||||||||||||||||||
Amount allocated to: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | 123 | $ | — | $ | 91 | $ | — | $ | 214 | ||||||||
Loans collectively evaluated for impairment | 2,214 | 6,741 | 1,230 | 4,278 | 3 | 14,466 | ||||||||||||||
Ending Balance | $ | 2,214 | $ | 6,864 | $ | 1,230 | $ | 4,369 | $ | 3 | $ | 14,680 | ||||||||
Loans: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | 5,360 | $ | 430 | $ | 9,965 | $ | — | $ | 15,755 | ||||||||
Loans collectively evaluated for impairment | 21,544 | 164,845 | 11,398 | 93,153 | 514 | 291,454 | ||||||||||||||
Ending Balance | $ | 21,544 | $ | 170,205 | $ | 11,828 | $ | 103,118 | $ | 514 | $ | 307,209 | ||||||||
As of December 31, 2012 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail | Total | |||||||||||||||
Real Estate | Construction | Estate | Other | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Amount allocated to: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | 265 | $ | 634 | $ | — | $ | 140 | $ | — | $ | 1,039 | ||||||||
Loans collectively evaluated for impairment | 6,332 | 14,389 | 2,527 | 7,970 | 322 | 31,540 | ||||||||||||||
Ending Balance | $ | 6,597 | $ | 15,023 | $ | 2,527 | $ | 8,110 | $ | 322 | $ | 32,579 | ||||||||
Loans: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | 7,479 | $ | 13,308 | $ | 6,394 | $ | 5,196 | $ | — | $ | 32,377 | ||||||||
Loans collectively evaluated for impairment | 415,348 | 829,654 | 63,735 | 404,867 | 11,944 | 1,725,548 | ||||||||||||||
Ending Balance | $ | 422,827 | $ | 842,962 | $ | 70,129 | $ | 410,063 | $ | 11,944 | $ | 1,757,925 | ||||||||
Florida | ||||||||||||||||||||
Amount allocated to: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | 235 | $ | — | $ | 483 | $ | — | $ | 718 | ||||||||
Loans collectively evaluated for impairment | 1,437 | 5,827 | 2,315 | 5,131 | 5 | 14,715 | ||||||||||||||
Ending Balance | $ | 1,437 | $ | 6,062 | $ | 2,315 | $ | 5,614 | $ | 5 | $ | 15,433 | ||||||||
Loans: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | 6,573 | $ | 2,597 | $ | 14,046 | $ | — | $ | 23,216 | ||||||||
Loans collectively evaluated for impairment | 10,861 | 131,597 | 13,375 | 95,724 | 409 | 251,966 | ||||||||||||||
Ending Balance | $ | 10,861 | $ | 138,170 | $ | 15,972 | $ | 109,770 | $ | 409 | $ | 275,182 | ||||||||
Securities_Sold_Under_Agreemen
Securities Sold Under Agreements to Repurchase | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Securities Sold Under Agreements to Repurchase | ' | |||||||
Securities Sold Under Agreements to Repurchase | ' | |||||||
Note 5: Securities Sold Under Agreements to Repurchase | ||||||||
Securities sold under agreements to repurchase, which are classified as secured borrowings, generally mature either daily or within one year from the transaction date. Securities sold under agreements to repurchase are reflected at the amount of cash received in connection with the transaction. The underlying securities are held by the Company’s safekeeping agent. The Company may be required to provide additional collateral based on the fair value of the underlying securities. The following table sets forth the distribution of securities sold under agreements to repurchase and weighted average interest rates: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Balance | $ | 156,510 | $ | 139,024 | ||||
Weighted average interest rate at end of period | 0.15 | % | 0.15 | % | ||||
Maximum outstanding at any month end | $ | 156,510 | $ | 146,710 | ||||
Average daily balance | $ | 131,093 | $ | 132,150 | ||||
Weighted average interest rate during period (1) | 0.13 | % | 0.21 | % | ||||
(1)The weighted average interest rate is computed by dividing total interest for the year-to-date period by the average daily balance outstanding. |
Earnings_Per_Common_Share
Earnings Per Common Share | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Common Share | ' | |||||||||||||
Earnings Per Common Share | ' | |||||||||||||
Note 6: Earnings Per Common Share | ||||||||||||||
Earnings per common share have been computed as follows: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(in thousands, except per share data) | ||||||||||||||
Net income available to common stockholders | $ | 7,024 | $ | 4,000 | $ | 19,081 | $ | 14,715 | ||||||
Shares: | ||||||||||||||
Weighted average common shares outstanding | 86,801 | 86,654 | 86,745 | 86,634 | ||||||||||
Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method | 275 | 8 | 299 | 9 | ||||||||||
Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation | 87,076 | 86,662 | 87,044 | 86,643 | ||||||||||
Basic earnings per common share | $ | 0.08 | $ | 0.05 | $ | 0.22 | $ | 0.17 | ||||||
Diluted earnings per common share | $ | 0.08 | $ | 0.05 | $ | 0.22 | $ | 0.17 | ||||||
Basic earnings per share are computed by dividing net income available to common stockholders for the period by the weighted average number of common shares outstanding. | ||||||||||||||
Diluted earnings per share are determined by dividing net income available to common stockholders for the period by the weighted average number of shares of common stock and common stock equivalents outstanding. Common stock equivalents assume exercise of stock options, warrants and vesting of restricted stock units and use of proceeds to purchase treasury stock at the average market price for the period. If the average market price for the period is less than the strike price of a stock option or warrant, that option or warrant is considered anti-dilutive and is excluded from the calculation of common stock equivalents. If the total employee proceeds of a restricted stock unit exceed the average market price for the period, that restricted stock unit is considered anti-dilutive and is excluded from the calculation of common stock equivalents. At September 30, 2013, 648,529 outstanding options, 573,833 warrants, and 380,252 restricted stock units were anti-dilutive and excluded from the calculation of common stock equivalents. At September 30, 2012, 804,968 outstanding options, 573,833 warrants, and 752,209 restricted stock units were anti-dilutive and excluded from the calculation of common stock equivalents. | ||||||||||||||
Stockbased_Compensation
Stock-based Compensation | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Stock-based Compensation | ' | ||||||||||
Stock-based Compensation | ' | ||||||||||
Note 7: Stock-based Compensation | |||||||||||
Under the terms of the Company’s 2010 Equity Incentive Plan, the Company is allowed, but not required, to source stock option exercises from its inventory of treasury stock. As of September 30, 2013, the Company held 1,523,002 shares in treasury, with 895,655 additional shares authorized for repurchase under its stock repurchase plan. The repurchase plan has no expiration date and expires when the Company has repurchased all of the remaining authorized shares. | |||||||||||
A description of the 2010 Equity Incentive Plan can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The Company’s 2010 Equity Incentive Plan is designed to encourage ownership of its common stock by its employees and directors, to provide additional incentive for them to promote the success of its business, and to attract and retain talented personnel. All of the Company’s employees and directors, and those of its subsidiaries, are eligible to receive awards under the plan. | |||||||||||
A summary of the status of and changes in the Company’s stock option awards for the nine months ended September 30, 2013 follows: | |||||||||||
Weighted- | Weighted- | ||||||||||
Average | Average | ||||||||||
Exercise | Remaining Contractual | ||||||||||
Shares | Price | Term | |||||||||
Outstanding at beginning of year | 857,468 | $ | 17.01 | ||||||||
Granted | — | — | |||||||||
Exercised | — | — | |||||||||
Forfeited | 156,439 | 16 | |||||||||
Outstanding at end of period | 701,029 | $ | 17.24 | 2.32 | |||||||
Exercisable at end of period | 701,029 | $ | 17.24 | 2.32 | |||||||
The Company did not recognize any compensation expense related to stock options for the three and nine months ended September 30, 2013 or 2012. | |||||||||||
A summary of the changes in the Company’s stock unit awards for the nine months ended September 30, 2013, is as follows: | |||||||||||
Director | Weighted- | ||||||||||
Restricted | Deferred | Average | |||||||||
Stock | Stock | Grant Date | |||||||||
Units | Units | Total | Fair Value | ||||||||
Non-vested at beginning of year | 736,412 | 32,991 | 769,403 | $ | 4.92 | ||||||
Granted | 351,452 | 28,800 | 380,252 | 5.02 | |||||||
Dividend Equivalents Earned | 9,903 | 946 | 10,849 | 4.59 | |||||||
Vested | (102,530 | ) | (33,937 | ) | (136,467 | ) | 4.7 | ||||
Forfeited | (20,014 | ) | — | (20,014 | ) | 5.23 | |||||
Non-vested at end of period | 975,223 | 28,800 | 1,004,023 | $ | 4.98 | ||||||
Outstanding at end of period | 975,223 | 86,666 | 1,061,889 | $ | 4.98 | ||||||
All recipients earn quarterly dividend equivalents on their respective units. These dividend equivalents are not paid out during the vesting period, but instead entitle the recipients to additional units. Therefore, dividends earned each quarter will compound based upon the updated unit balances. Upon vesting/delivery, shares are expected to be issued from treasury. | |||||||||||
On August 1, 2013, under the terms of the 2010 Equity Incentive Plan, the Company granted 367,094 restricted stock units (“RSUs”) to members of management and directors. As the stock price on the grant date of August 1, 2013 was $5.04, total compensation cost to be recognized is $1,850,154. This cost will be recognized over a period of one to five years. Per the respective agreements, 28,800 RSUs vest over a requisite service period of one year, 14,881 RSUs vest over a requisite service period of two years, and the remaining 323,413 RSUs vest over a requisite service period of five years. Subsequent to each requisite service period, the awards will vest 100%. | |||||||||||
On March 26, 2013, under the terms of the 2010 Equity Incentive Plan, the Company granted 13,158 RSUs to a certain member of management. As the stock price on the grant date of March 26, 2013 was $4.56, total compensation cost to be recognized is $60,000. This cost will be recognized over a period of one to three years. Per the respective agreements, 4,386 RSUs vest over a requisite service period of one year, 4,386 RSUs vest over a requisite service period of two years, and the remaining 4,386 RSUs vest over a requisite service period of three years. Subsequent to each requisite service period, the awards will vest 100%. | |||||||||||
A listing of RSUs granted in 2012 under the terms of the 2010 Equity Incentive Plan can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |||||||||||
The Company recognized $0.3 million of compensation expense related to non-vested stock units for the three months ended September 30, 2013 and 2012. The Company recognized $0.7 million of compensation expense related to non-vested stock units for the nine months ended September 30, 2013 and 2012. As of September 30, 2013, there was $3.4 million of total unrecognized compensation cost related to these non-vested stock units. This cost is expected to be recognized over a period of 3.4 years. | |||||||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Taxes | ' |
Income Taxes | ' |
Note 8: Income Taxes | |
At September 30, 2013, the Company was not under examination by any tax authority. | |
Outstanding_Commitments_and_Co
Outstanding Commitments and Contingent Liabilities | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Outstanding Commitments and Contingent Liabilities | ' | |||||||
Outstanding Commitments and Contingent Liabilities | ' | |||||||
Note 9: Outstanding Commitments and Contingent Liabilities | ||||||||
Legal Matters | ||||||||
The Company and its subsidiaries are parties to legal actions which arise in the normal course of their business activities. In the opinion of management, the ultimate resolution of these matters is not expected to have a material effect on the financial position or the results of operations of the Company and its subsidiaries. | ||||||||
Credit Commitments and Contingencies | ||||||||
The Company and its subsidiary are parties to credit related financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of their customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. | ||||||||
The Company and its subsidiary’s exposure to credit loss are represented by the contractual amount of those commitments. The Company and its subsidiary use the same credit policies in making commitments and conditional obligations as they do for on-balance-sheet instruments. A summary of the contractual amount of the Company and its subsidiary’s exposure to off-balance-sheet risk relating to the Company and its subsidiary’s commitments to extend credit and standby letters of credit follows: | ||||||||
September 30, 2013 | December 31, 2012 | |||||||
(dollars in thousands) | ||||||||
Financial instruments whose contract amounts represent credit risk: | ||||||||
Commitments to extend credit | $ | 560,234 | $ | 483,373 | ||||
Standby letters of credit | 10,035 | 12,305 | ||||||
Commitments to extend credit are agreements to lend to a customer as long as no condition established in the contract has been violated. These commitments are generally at variable interest rates and generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for equity lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company and its subsidiary upon extension of credit, is based on management’s credit evaluation of the customer. | ||||||||
Standby letters of credit are conditional commitments issued by the Company and its subsidiary to guarantee the performance of a customer’s obligation to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including bond financing and similar transactions and primarily have terms of one year or less. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company and its subsidiary hold collateral, which may include accounts receivable, inventory, property and equipment, and income producing properties, supporting those commitments if deemed necessary. In the event the customer does not perform in accordance with the terms of the agreement with the third party, the Company and its subsidiary would be required to fund the commitment. The maximum potential amount of future payments the Company and its subsidiary could be required to make is represented by the contractual amount shown in the summary above. If the commitment is funded, the Company and its subsidiary would be entitled to seek recovery from the customer. As of September 30, 2013 and December 31, 2012, no amounts were recorded as liabilities for the Company and its subsidiary’s potential obligations under these guarantees. | ||||||||
As of September 30, 2013, the Company had no futures, forwards, swaps or option contracts, or other financial instruments with similar characteristics with the exception of rate lock commitments on mortgage loans to be held for sale. | ||||||||
Reportable_Segments_and_Relate
Reportable Segments and Related Information | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Reportable Segments and Related Information | ' | |||||||||||||
Reportable Segments and Related Information | ' | |||||||||||||
Note 10: Reportable Segments and Related Information | ||||||||||||||
The Company has three reportable segments, Busey Bank, FirsTech and Busey Wealth Management. Busey Bank provides a full range of banking services to individual and corporate customers through its branch network in downstate Illinois, through its branch in Indianapolis, Indiana, and through its branch network in southwest Florida. FirsTech provides remittance processing for online bill payments, lockbox and walk-in payments. Busey Wealth Management is the parent company of Busey Trust Company, which provides a full range of asset management, investment and fiduciary services to individuals, businesses and foundations, tax preparation and philanthropic advisory services. | ||||||||||||||
The Company’s three reportable segments are strategic business units that are separately managed as they offer different products and services and have different marketing strategies. | ||||||||||||||
The segment financial information provided below has been derived from the internal accounting system used by management to monitor and manage the financial performance of the Company. The accounting policies of the three segments are the same as those described in the summary of significant accounting policies in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | ||||||||||||||
Following is a summary of selected financial information for the Company’s business segments: | ||||||||||||||
Goodwill | Total Assets | |||||||||||||
September 30, | December 31, | September 30, | December 31, | |||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(dollars in thousands) | (dollars in thousands) | |||||||||||||
Goodwill & Total Assets: | ||||||||||||||
Busey Bank | $ | — | $ | — | $ | 3,448,907 | $ | 3,567,637 | ||||||
FirsTech | 8,992 | 8,992 | 26,946 | 26,401 | ||||||||||
Busey Wealth Management | 11,694 | 11,694 | 27,855 | 26,653 | ||||||||||
All Other | — | — | 28,316 | (2,635 | ) | |||||||||
Total | $ | 20,686 | $ | 20,686 | $ | 3,532,024 | $ | 3,618,056 | ||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(dollars in thousands) | (dollars in thousands) | |||||||||||||
Interest Income: | ||||||||||||||
Busey Bank | $ | 27,167 | $ | 28,935 | $ | 81,597 | $ | 88,093 | ||||||
FirsTech | 13 | 15 | 39 | 48 | ||||||||||
Busey Wealth Management | 62 | 62 | 179 | 192 | ||||||||||
All Other | (6 | ) | (1 | ) | (4 | ) | (1 | ) | ||||||
Total interest income | $ | 27,236 | $ | 29,011 | $ | 81,811 | $ | 88,332 | ||||||
Interest Expense: | ||||||||||||||
Busey Bank | $ | 1,709 | $ | 3,138 | $ | 5,858 | $ | 10,828 | ||||||
FirsTech | — | — | — | — | ||||||||||
Busey Wealth Management | — | — | — | — | ||||||||||
All Other | 294 | 328 | 892 | 987 | ||||||||||
Total interest expense | $ | 2,003 | $ | 3,466 | $ | 6,750 | $ | 11,815 | ||||||
Other Income: | ||||||||||||||
Busey Bank | $ | 9,447 | $ | 9,850 | $ | 29,542 | $ | 29,592 | ||||||
FirsTech | 2,167 | 2,094 | 6,445 | 6,418 | ||||||||||
Busey Wealth Management | 4,540 | 4,061 | 13,286 | 12,332 | ||||||||||
All Other | (524 | ) | (416 | ) | (1,219 | ) | 897 | |||||||
Total other income | $ | 15,630 | $ | 15,589 | $ | 48,054 | $ | 49,239 | ||||||
Net Income: | ||||||||||||||
Busey Bank | $ | 6,963 | $ | 4,642 | $ | 19,243 | $ | 14,859 | ||||||
FirsTech | 259 | 237 | 807 | 746 | ||||||||||
Busey Wealth Management | 1,173 | 780 | 3,126 | 2,647 | ||||||||||
All Other | (462 | ) | (750 | ) | (1,370 | ) | (812 | ) | ||||||
Total net income | $ | 7,933 | $ | 4,909 | $ | 21,806 | $ | 17,440 | ||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Fair Value Measurements | ' | |||||||||||||
Fair Value Measurements | ' | |||||||||||||
Note 11: Fair Value Measurements | ||||||||||||||
The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. Such valuation techniques are consistently applied. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability. FASB ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | ||||||||||||||
Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. | ||||||||||||||
Level 2 Inputs - Inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. | ||||||||||||||
Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. | ||||||||||||||
A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to those Company assets and liabilities that are carried at fair value. | ||||||||||||||
There were no transfers between levels during the quarter ended September 30, 2013. Corporate debt securities were transferred to level 2 as of March 31, 2013 because the Company could no longer obtain evidence of unadjusted quoted prices. | ||||||||||||||
In general, fair value is based upon quoted market prices, when available. If such quoted market prices are not available, fair values are measured utilizing independent valuation techniques of identical or similar securities for which significant assumptions are derived primarily from or corroborated by observable data. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect, among other things, counterparty credit quality and the company’s creditworthiness as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates and, therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. | ||||||||||||||
Securities Available for Sale. Securities classified as available for sale are reported at fair value utilizing level 1 and level 2 measurements. For mutual funds and other equity securities, unadjusted quoted prices in active markets for identical assets are utilized to determine fair value at the measurement date and have been classified as level 1 in the ASC 820 fair value hierarchy. For all other securities, the Company obtains fair value measurements from an independent pricing service. The independent pricing service evaluations are based on market data. The independent pricing service utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information. Because many fixed income securities do not trade on a daily basis, the independent pricing service evaluated pricing applications apply available information as applicable through processes such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. In addition, the independent pricing service uses model processes, such as the Option Adjusted Spread model to assess interest rate impact and develop prepayment scenarios. The models and processes take into account market convention. For each asset class, a team of evaluators gathers information from market sources and integrates relevant credit information, perceived market movements and sector news into the evaluated pricing applications and models. | ||||||||||||||
The market inputs that the independent pricing service normally seeks for evaluations of securities, listed in approximate order of priority, include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. The independent pricing service also monitors market indicators, industry and economic events. Information of this nature is a trigger to acquire further market data. For certain security types, additional inputs may be used or some of the market inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on a given day. Because the data utilized was observable, the securities have been classified as level 2 in the ASC 820 fair value hierarchy. | ||||||||||||||
The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
Inputs | Inputs | Inputs | Fair Value | |||||||||||
(dollars in thousands) | ||||||||||||||
September 30, 2013 | ||||||||||||||
Available for sale | ||||||||||||||
U.S. Treasury securities | $ | — | $ | 103,338 | $ | — | $ | 103,338 | ||||||
Obligations of U.S. government corporations and agencies | — | 288,369 | — | 288,369 | ||||||||||
Obligations of states and political subdivisions | — | 293,287 | — | 293,287 | ||||||||||
Residential mortgage-backed securities | — | 190,133 | — | 190,133 | ||||||||||
Corporate debt securities | — | 25,490 | — | 25,490 | ||||||||||
Mutual funds and other equity securities | 6,805 | — | — | 6,805 | ||||||||||
$ | 6,805 | $ | 900,617 | $ | — | $ | 907,422 | |||||||
December 31, 2012 | ||||||||||||||
Available for sale | ||||||||||||||
U.S. Treasury securities | $ | — | $ | 104,656 | $ | — | $ | 104,656 | ||||||
Obligations of U.S. government corporations and agencies | — | 370,194 | — | 370,194 | ||||||||||
Obligations of states and political subdivisions | — | 280,288 | — | 280,288 | ||||||||||
Residential mortgage-backed securities | — | 217,715 | — | 217,715 | ||||||||||
Corporate debt securities | 24,714 | — | — | 24,714 | ||||||||||
Mutual funds and other equity securities | 3,930 | — | — | 3,930 | ||||||||||
$ | 28,644 | $ | 972,853 | $ | — | $ | 1,001,497 | |||||||
Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). | ||||||||||||||
Impaired Loans. The Company does not record loans at fair value on a recurring basis. However, periodically, a loan is considered impaired and is reported at the fair value of the underlying collateral, less estimated costs to sell, if repayment is expected solely from the collateral. Impaired loans measured at fair value typically consist of loans on non-accrual status and restructured loans in compliance with modified terms. Collateral values are estimated using a combination of observable inputs, including recent appraisals and unobservable inputs based on customized discounting criteria. Due to the significance of the unobservable inputs, all impaired loan fair values have been classified as level 3 in the ASC 820 fair value hierarchy. | ||||||||||||||
OREO. Non-financial assets and non-financial liabilities measured at fair value include OREO (upon initial recognition or subsequent impairment). OREO properties are measured using a combination of observable inputs, including recent appraisals, and unobservable inputs based on customized discounting criteria. Due to the significance of the unobservable inputs, all OREO fair values have been classified as level 3 in the ASC 820 fair value hierarchy. | ||||||||||||||
The following table summarizes assets and liabilities measured at fair value on a non-recurring basis as of September 30, 2013 and December 31, 2012, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
Inputs | Inputs | Inputs | Fair Value | |||||||||||
(dollars in thousands) | ||||||||||||||
September 30, 2013 | ||||||||||||||
Impaired loans | $ | — | $ | — | $ | 3,963 | $ | 3,963 | ||||||
OREO | — | — | 1,192 | 1,192 | ||||||||||
December 31, 2012 | ||||||||||||||
Impaired loans | $ | — | $ | — | $ | 2,284 | $ | 2,284 | ||||||
OREO | — | — | 511 | 511 | ||||||||||
The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized level 3 inputs to determine fair value: | ||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||
Estimate | Techniques | Input | (Weighted Average) | |||||||||||
(dollars in thousands) | ||||||||||||||
September 30, 2013 | ||||||||||||||
Impaired loans | $ | 3,963 | Appraisal of collateral | Appraisal adjustments | -0.8% to -100.0% | |||||||||
(-34.9%) | ||||||||||||||
OREO | 1,192 | Appraisal of collateral | Appraisal adjustments | -6.1% to -100.0% | ||||||||||
(-48.7%) | ||||||||||||||
FASB ASC Topic 825 requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. A detailed description of the valuation methodologies used in estimating the fair value of financial instruments is set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | ||||||||||||||
The estimated fair values of financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows: | ||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||
Amount | Value | Amount | Value | |||||||||||
(dollars in thousands) | ||||||||||||||
Financial assets: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Cash and due from banks | $ | 198,668 | $ | 198,668 | $ | 351,255 | $ | 351,255 | ||||||
Securities held to maturity | 838 | 844 | — | — | ||||||||||
Loans held for sale | 17,500 | 17,828 | 40,003 | 40,971 | ||||||||||
Accrued interest receivable | 12,371 | 12,371 | 12,275 | 12,275 | ||||||||||
Level 3 inputs: | ||||||||||||||
Loans, net | 2,185,141 | 2,189,051 | 1,985,095 | 2,006,588 | ||||||||||
Financial liabilities: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Deposits | $ | 2,879,852 | $ | 2,882,254 | $ | 2,980,292 | $ | 2,987,524 | ||||||
Securities sold under agreements to repurchase | 156,510 | 156,510 | 139,024 | 139,024 | ||||||||||
Long-term debt | — | — | 7,000 | 7,120 | ||||||||||
Junior subordinated debt owed to unconsolidated trusts | 55,000 | 55,000 | 55,000 | 55,000 | ||||||||||
Accrued interest payable | 742 | 742 | 1,128 | 1,128 | ||||||||||
Securities_Tables
Securities (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Securities | ' | |||||||||||||||||||
Schedule of amortized cost, unrealized gains and losses and fair values of securities classified available for sale and held to maturity | ' | |||||||||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
September 30, 2013: | Cost | Gains | Losses | Value | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Available for sale | ||||||||||||||||||||
U.S. Treasury securities | $ | 103,024 | $ | 385 | $ | (71 | ) | $ | 103,338 | |||||||||||
Obligations of U.S. government corporations and agencies | 285,452 | 3,258 | (341 | ) | 288,369 | |||||||||||||||
Obligations of states and political subdivisions | 292,492 | 3,258 | (2,463 | ) | 293,287 | |||||||||||||||
Residential mortgage-backed securities | 185,584 | 4,802 | (253 | ) | 190,133 | |||||||||||||||
Corporate debt securities | 25,407 | 115 | (32 | ) | 25,490 | |||||||||||||||
Total debt securities | 891,959 | 11,818 | (3,160 | ) | 900,617 | |||||||||||||||
Mutual funds and other equity securities | 4,650 | 2,155 | — | 6,805 | ||||||||||||||||
Total | $ | 896,609 | $ | 13,973 | $ | (3,160 | ) | $ | 907,422 | |||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
September 30, 2013: | Cost | Gains | Losses | Value | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Held to maturity | ||||||||||||||||||||
Obligations of states and political subdivisions | $ | 838 | $ | 6 | $ | — | $ | 844 | ||||||||||||
Total | $ | 838 | $ | 6 | $ | — | $ | 844 | ||||||||||||
Gross | Gross | |||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
December 31, 2012: | Cost | Gains | Losses | Value | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Available for sale | ||||||||||||||||||||
U.S. Treasury securities | $ | 103,353 | $ | 1,303 | $ | — | $ | 104,656 | ||||||||||||
Obligations of U.S. government corporations and agencies | 363,583 | 6,616 | (5 | ) | 370,194 | |||||||||||||||
Obligations of states and political subdivisions | 274,350 | 6,176 | (238 | ) | 280,288 | |||||||||||||||
Residential mortgage-backed securities | 210,139 | 7,576 | — | 217,715 | ||||||||||||||||
Corporate debt securities | 24,601 | 139 | (26 | ) | 24,714 | |||||||||||||||
Total debt securities | 976,026 | 21,810 | (269 | ) | 997,567 | |||||||||||||||
Mutual funds and other equity securities | 2,451 | 1,479 | — | 3,930 | ||||||||||||||||
Total | $ | 978,477 | $ | 23,289 | $ | (269 | ) | $ | 1,001,497 | |||||||||||
Schedule of amortized cost and fair value of debt securities available for sale and held to maturity by contractual maturity | ' | |||||||||||||||||||
Available for sale | Held to maturity | |||||||||||||||||||
Amortized | Fair | Amortized | Fair | |||||||||||||||||
Cost | Value | Cost | Value | |||||||||||||||||
(dollars in thousands) | (dollars in thousands) | |||||||||||||||||||
Due in one year or less | $ | 151,701 | $ | 152,776 | $ | — | $ | — | ||||||||||||
Due after one year through five years | 478,362 | 481,436 | 234 | 235 | ||||||||||||||||
Due after five years through ten years | 182,805 | 185,574 | 496 | 499 | ||||||||||||||||
Due after ten years | 79,091 | 80,831 | 108 | 110 | ||||||||||||||||
Total | $ | 891,959 | $ | 900,617 | $ | 838 | $ | 844 | ||||||||||||
Schedule of realized gains and losses related to sales of securities available for sale | ' | |||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Gross security gains | $ | 82 | $ | 511 | ||||||||||||||||
Gross security (losses) | — | — | ||||||||||||||||||
Net security gains | $ | 82 | $ | 511 | ||||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Gross security gains | $ | 82 | $ | 576 | ||||||||||||||||
Gross security (losses) | — | (1 | ) | |||||||||||||||||
Net security gains | $ | 82 | $ | 575 | ||||||||||||||||
Schedule of securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in continuous loss position | ' | |||||||||||||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
September 30, 2013: | Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Available for sale | ||||||||||||||||||||
U.S. Treasury securities | $ | 36,520 | $ | 71 | $ | — | $ | — | $ | 36,520 | $ | 71 | ||||||||
Obligations of U.S. government corporations and agencies | 25,264 | 341 | — | — | 25,264 | 341 | ||||||||||||||
Obligations of states and political subdivisions | 116,930 | 2,399 | 4,582 | 64 | 121,512 | 2,463 | ||||||||||||||
Residential mortgage-backed securities | 15,183 | 253 | — | — | 15,183 | 253 | ||||||||||||||
Corporate debt securities | 9,354 | 32 | — | — | 9,354 | 32 | ||||||||||||||
Total temporarily impaired securities | $ | 203,251 | $ | 3,096 | $ | 4,582 | $ | 64 | $ | 207,833 | $ | 3,160 | ||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
September 30, 2013: | Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Held to maturity | ||||||||||||||||||||
Obligations of states and political subdivisions (1) | $ | 183 | $ | — | $ | — | $ | — | $ | 183 | $ | — | ||||||||
Total temporarily impaired securities | $ | 183 | $ | — | $ | — | $ | — | $ | 183 | $ | — | ||||||||
(1) Unrealized loss was less than one thousand dollars. | ||||||||||||||||||||
Less than 12 months | Greater than 12 months | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
December 31, 2012: | Value | Losses | Value | Losses | Value | Losses | ||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Available for sale | ||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | 10,155 | $ | 5 | $ | — | $ | — | $ | 10,155 | $ | 5 | ||||||||
Obligations of states and political subdivisions | 37,958 | 189 | 3,311 | 49 | 41,269 | 238 | ||||||||||||||
Corporate debt securities | 15,207 | 26 | — | — | 15,207 | 26 | ||||||||||||||
Total temporarily impaired securities | $ | 63,320 | $ | 220 | $ | 3,311 | $ | 49 | $ | 66,631 | $ | 269 |
Loans_Tables
Loans (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Loans | ' | |||||||||||||||||||
Schedule of geographic distributions of loans | ' | |||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Illinois | Florida | Indiana | Total | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Commercial | $ | 511,567 | $ | 21,544 | $ | 26,444 | $ | 559,555 | ||||||||||||
Commercial real estate | 808,708 | 170,205 | 86,067 | 1,064,980 | ||||||||||||||||
Real estate construction | 56,590 | 11,828 | 2,630 | 71,048 | ||||||||||||||||
Retail real estate | 429,497 | 104,100 | 11,618 | 545,215 | ||||||||||||||||
Retail other | 9,195 | 514 | 98 | 9,807 | ||||||||||||||||
Total | $ | 1,815,557 | $ | 308,191 | $ | 126,857 | $ | 2,250,605 | ||||||||||||
Less held for sale(1) | 17,500 | |||||||||||||||||||
$ | 2,233,105 | |||||||||||||||||||
Less allowance for loan losses | 47,964 | |||||||||||||||||||
Net loans | $ | 2,185,141 | ||||||||||||||||||
(1)Loans held for sale are included in retail real estate. | ||||||||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Illinois | Florida | Indiana | Total | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Commercial | $ | 399,300 | $ | 10,861 | $ | 23,527 | $ | 433,688 | ||||||||||||
Commercial real estate | 777,752 | 138,170 | 65,210 | 981,132 | ||||||||||||||||
Real estate construction | 67,152 | 15,972 | 2,977 | 86,101 | ||||||||||||||||
Retail real estate | 435,911 | 112,052 | 11,873 | 559,836 | ||||||||||||||||
Retail other | 11,831 | 409 | 113 | 12,353 | ||||||||||||||||
Total | $ | 1,691,946 | $ | 277,464 | $ | 103,700 | $ | 2,073,110 | ||||||||||||
Less held for sale(1) | 40,003 | |||||||||||||||||||
$ | 2,033,107 | |||||||||||||||||||
Less allowance for loan losses | 48,012 | |||||||||||||||||||
Net loans | $ | 1,985,095 | ||||||||||||||||||
(1) Loans held for sale are included in retail real estate. | ||||||||||||||||||||
Schedule of weighted average risk grades segregated by class of loans (excluding held-for-sale, non posted and clearings) | ' | |||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Weighted Avg. | Grades | Grade | Grade | Grade | Grade | |||||||||||||||
Risk Grade | 1,3,6 | 7 | 8 | 9 | 10 | |||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | 4.7 | $ | 466,334 | $ | 46,901 | $ | 14,199 | $ | 9,073 | $ | 1,504 | |||||||||
Commercial real estate | 5.53 | 746,360 | 85,757 | 29,436 | 26,779 | 6,443 | ||||||||||||||
Real estate construction | 7.24 | 17,759 | 16,365 | 12,420 | 10,166 | 2,510 | ||||||||||||||
Retail real estate | 3.55 | 399,303 | 5,717 | 5,402 | 6,130 | 3,795 | ||||||||||||||
Retail other | 2.98 | 9,134 | 154 | — | 5 | — | ||||||||||||||
Total Illinois/Indiana | $ | 1,638,890 | $ | 154,894 | $ | 61,457 | $ | 52,153 | $ | 14,252 | ||||||||||
Florida | ||||||||||||||||||||
Commercial | 5.85 | $ | 17,311 | $ | 244 | $ | 3,301 | $ | 688 | $ | — | |||||||||
Commercial real estate | 6.19 | 119,046 | 21,299 | 11,531 | 15,179 | 3,150 | ||||||||||||||
Real estate construction | 7.04 | 2,026 | 8,097 | 767 | 938 | — | ||||||||||||||
Retail real estate | 3.84 | 78,082 | 11,380 | 9,500 | 3,070 | 1,087 | ||||||||||||||
Retail other | 1.75 | 514 | — | — | — | — | ||||||||||||||
Total Florida | $ | 216,979 | $ | 41,020 | $ | 25,099 | $ | 19,875 | $ | 4,237 | ||||||||||
Total | $ | 1,855,869 | $ | 195,914 | $ | 86,556 | $ | 72,028 | $ | 18,489 | ||||||||||
December 31, 2012 | ||||||||||||||||||||
Weighted Avg. | Grades | Grade | Grade | Grade | Grade | |||||||||||||||
Risk Grade | 1,3,6 | 7 | 8 | 9 | 10 | |||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | 4.68 | $ | 346,536 | $ | 46,201 | $ | 12,374 | $ | 15,677 | $ | 2,039 | |||||||||
Commercial real estate | 5.53 | 644,695 | 110,012 | 50,305 | 28,655 | 9,295 | ||||||||||||||
Real estate construction | 7.21 | 30,710 | 7,809 | 14,162 | 14,084 | 3,364 | ||||||||||||||
Retail real estate | 3.62 | 385,949 | 6,729 | 7,806 | 5,874 | 2,855 | ||||||||||||||
Retail other | 3.34 | 11,563 | 372 | — | 9 | — | ||||||||||||||
Total Illinois/Indiana | $ | 1,419,453 | $ | 171,123 | $ | 84,647 | $ | 64,299 | $ | 17,553 | ||||||||||
Florida | ||||||||||||||||||||
Commercial | 5.91 | $ | 6,359 | $ | 3,544 | $ | 162 | $ | 796 | $ | — | |||||||||
Commercial real estate | 6.36 | 80,232 | 20,667 | 13,238 | 19,279 | 4,754 | ||||||||||||||
Real estate construction | 6.97 | 4,137 | 7,721 | 3,172 | 942 | — | ||||||||||||||
Retail real estate | 3.98 | 83,578 | 6,369 | 13,225 | 3,265 | 2,797 | ||||||||||||||
Retail other | 2.8 | 391 | — | 18 | — | — | ||||||||||||||
Total Florida | $ | 174,697 | $ | 38,301 | $ | 29,815 | $ | 24,282 | $ | 7,551 | ||||||||||
Total | $ | 1,594,150 | $ | 209,424 | $ | 114,462 | $ | 88,581 | $ | 25,104 | ||||||||||
Schedule of age analysis of past due loans still accruing and non-accrual loans | ' | |||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Loans past due, still accruing | Non-accrual | |||||||||||||||||||
30-59 Days | 60-89 Days | 90+Days | Loans | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | $ | 337 | $ | 281 | $ | 88 | $ | 1,504 | ||||||||||||
Commercial real estate | 77 | — | 65 | 6,443 | ||||||||||||||||
Real estate construction | — | — | — | 2,510 | ||||||||||||||||
Retail real estate | 983 | 272 | 46 | 3,795 | ||||||||||||||||
Retail other | 18 | 1 | — | — | ||||||||||||||||
Total Illinois/Indiana | $ | 1,415 | $ | 554 | $ | 199 | $ | 14,252 | ||||||||||||
Florida | ||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Commercial real estate | — | — | — | 3,150 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | 314 | — | — | 1,087 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | $ | 314 | $ | — | $ | — | $ | 4,237 | ||||||||||||
Total | $ | 1,729 | $ | 554 | $ | 199 | $ | 18,489 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
Loans past due, still accruing | Non-accrual | |||||||||||||||||||
30-59 Days | 60-89 Days | 90+Days | Loans | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | $ | 111 | $ | 80 | $ | 19 | $ | 2,039 | ||||||||||||
Commercial real estate | 216 | 59 | 139 | 9,295 | ||||||||||||||||
Real estate construction | — | — | — | 3,364 | ||||||||||||||||
Retail real estate | 1,154 | 294 | 46 | 2,855 | ||||||||||||||||
Retail other | 2 | 2 | — | — | ||||||||||||||||
Total Illinois/Indiana | $ | 1,483 | $ | 435 | $ | 204 | $ | 17,553 | ||||||||||||
Florida | ||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Commercial real estate | — | — | — | 4,754 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | 364 | — | 52 | 2,797 | ||||||||||||||||
Retail other | — | 3 | — | — | ||||||||||||||||
Total Florida | $ | 364 | $ | 3 | $ | 52 | $ | 7,551 | ||||||||||||
Total | $ | 1,847 | $ | 438 | $ | 256 | $ | 25,104 | ||||||||||||
Schedule of restructured loans | ' | |||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Restructured loans: | ||||||||||||||||||||
In compliance with modified terms | $ | 12,452 | $ | 22,023 | ||||||||||||||||
30 — 89 days past due | — | 28 | ||||||||||||||||||
Included in non-performing loans | 7,431 | 6,458 | ||||||||||||||||||
Total | $ | 19,883 | $ | 28,509 | ||||||||||||||||
Schedule of performing loans classified as TDRs, segregated by class and geography | ' | |||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, 2013 | September 30, 2013 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||
contracts | investment | contracts | investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | — | — | 1 | 1,650 | ||||||||||||||||
Real estate construction | — | — | 1 | 267 | ||||||||||||||||
Retail real estate | — | — | 4 | 1,091 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Illinois/Indiana | — | $ | — | 6 | $ | 3,008 | ||||||||||||||
Florida | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | — | — | — | — | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | 1 | 114 | 2 | 234 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | 1 | $ | 114 | 2 | $ | 234 | ||||||||||||||
Total | 1 | $ | 114 | 8 | $ | 3,242 | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, 2012 | September 30, 2012 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||
contracts | investment | contracts | investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | 5 | $ | 519 | 5 | $ | 519 | ||||||||||||||
Commercial real estate | — | — | — | — | ||||||||||||||||
Real estate construction | — | — | 1 | 1,475 | ||||||||||||||||
Retail real estate | — | — | — | — | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Illinois/Indiana | 5 | $ | 519 | 6 | $ | 1,994 | ||||||||||||||
Florida | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | 3 | 1,451 | 3 | 1,451 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | 2 | 189 | 5 | 1,085 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | 5 | $ | 1,640 | 8 | $ | 2,536 | ||||||||||||||
Total | 10 | $ | 2,159 | 14 | $ | 4,530 | ||||||||||||||
Schedule of performing loans, segregated by class and geography, modified as TDRs | ' | |||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, 2013 | September 30, 2013 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||
contracts | investment | contracts | investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | 1 | 218 | 1 | 218 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | — | — | — | — | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Illinois/Indiana | 1 | $ | 218 | 1 | $ | 218 | ||||||||||||||
Florida | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | — | — | 1 | 90 | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | — | — | — | — | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | — | $ | — | 1 | $ | 90 | ||||||||||||||
Total | 1 | $ | 218 | 2 | $ | 308 | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||
September 30, 2012 | September 30, 2012 | |||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||
contracts | investment | contracts | investment | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | — | $ | — | 4 | $ | 1,455 | ||||||||||||||
Commercial real estate | 1 | 2,069 | 1 | 2,069 | ||||||||||||||||
Real estate construction | — | — | 4 | 3,170 | ||||||||||||||||
Retail real estate | 1 | 53 | 11 | 1,875 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Illinois/Indiana | 2 | $ | 2,122 | 20 | $ | 8,569 | ||||||||||||||
Florida | ||||||||||||||||||||
Commercial | — | $ | — | — | $ | — | ||||||||||||||
Commercial real estate | — | — | — | — | ||||||||||||||||
Real estate construction | — | — | — | — | ||||||||||||||||
Retail real estate | — | — | 2 | 704 | ||||||||||||||||
Retail other | — | — | — | — | ||||||||||||||||
Total Florida | — | $ | — | 2 | $ | 704 | ||||||||||||||
Total | 2 | $ | 2,122 | 22 | $ | 9,273 | ||||||||||||||
Schedule of details of impaired loans, segregated by class and geography | ' | |||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | |||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | |||||||||||||||
Principal | with No | with | Investment | Investment | ||||||||||||||||
Balance | Allowance | Allowance | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | $ | 3,188 | $ | 1,585 | $ | 1,227 | $ | 2,812 | $ | 847 | $ | 5,255 | ||||||||
Commercial real estate | 11,131 | 6,674 | 2,429 | 9,103 | 954 | 10,937 | ||||||||||||||
Real estate construction | 6,065 | 4,037 | 618 | 4,655 | 218 | 6,815 | ||||||||||||||
Retail real estate | 5,882 | 3,786 | 1,294 | 5,080 | 754 | 5,231 | ||||||||||||||
Retail other | — | — | — | — | — | — | ||||||||||||||
Total Illinois/Indiana | $ | 26,266 | $ | 16,082 | $ | 5,568 | $ | 21,650 | $ | 2,773 | $ | 28,238 | ||||||||
Florida | ||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 38 | ||||||||
Commercial real estate | 7,202 | 4,344 | 1,016 | 5,360 | 123 | 6,877 | ||||||||||||||
Real estate construction | 430 | 430 | — | 430 | — | 1,733 | ||||||||||||||
Retail real estate | 11,037 | 9,599 | 366 | 9,965 | 91 | 12,073 | ||||||||||||||
Retail other | — | — | — | — | — | — | ||||||||||||||
Total Florida | $ | 18,669 | $ | 14,373 | $ | 1,382 | $ | 15,755 | $ | 214 | $ | 20,721 | ||||||||
Total | $ | 44,935 | $ | 30,455 | $ | 6,950 | $ | 37,405 | $ | 2,987 | $ | 48,959 | ||||||||
December 31, 2012 | ||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | Average | |||||||||||||||
Contractual | Investment | Investment | Recorded | Allowance | Recorded | |||||||||||||||
Principal | with No | with | Investment | Investment | ||||||||||||||||
Balance | Allowance | Allowance | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Commercial | $ | 11,557 | $ | 7,214 | $ | 265 | $ | 7,479 | $ | 265 | $ | 10,109 | ||||||||
Commercial real estate | 17,656 | 12,020 | 1,288 | 13,308 | 634 | 14,607 | ||||||||||||||
Real estate construction | 6,851 | 6,394 | — | 6,394 | — | 8,625 | ||||||||||||||
Retail real estate | 6,251 | 4,666 | 530 | 5,196 | 140 | 5,206 | ||||||||||||||
Retail other | — | — | — | — | — | 24 | ||||||||||||||
Total Illinois/Indiana | $ | 42,315 | $ | 30,294 | $ | 2,083 | $ | 32,377 | $ | 1,039 | $ | 38,571 | ||||||||
Florida | ||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 271 | ||||||||
Commercial real estate | 9,533 | 5,988 | 585 | 6,573 | 235 | 6,506 | ||||||||||||||
Real estate construction | 2,597 | 2,597 | — | 2,597 | — | 3,989 | ||||||||||||||
Retail real estate | 16,518 | 12,673 | 1,373 | 14,046 | 483 | 15,254 | ||||||||||||||
Retail other | — | — | — | — | — | — | ||||||||||||||
Total Florida | $ | 28,648 | $ | 21,258 | $ | 1,958 | $ | 23,216 | $ | 718 | $ | 26,020 | ||||||||
Total | $ | 70,963 | $ | 51,552 | $ | 4,041 | $ | 55,593 | $ | 1,757 | $ | 64,591 | ||||||||
Schedule of activity on the allowance for loan losses | ' | |||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Beginning balance | $ | 7,514 | $ | 13,723 | $ | 2,514 | $ | 8,256 | $ | 240 | $ | 32,247 | ||||||||
Provision for loan loss | 363 | 316 | (241 | ) | 1,024 | 49 | 1,511 | |||||||||||||
Charged-off | (241 | ) | (44 | ) | — | (446 | ) | (117 | ) | (848 | ) | |||||||||
Recoveries | 37 | 145 | 21 | 112 | 59 | 374 | ||||||||||||||
Ending Balance | $ | 7,673 | $ | 14,140 | $ | 2,294 | $ | 8,946 | $ | 231 | $ | 33,284 | ||||||||
Florida | ||||||||||||||||||||
Beginning balance | $ | 1,505 | $ | 7,656 | $ | 2,693 | $ | 4,387 | $ | 3 | $ | 16,244 | ||||||||
Provision for loan loss | 687 | 1,504 | (1,690 | ) | (9 | ) | (3 | ) | 489 | |||||||||||
Charged-off | — | (2,298 | ) | 2 | (56 | ) | (2 | ) | (2,354 | ) | ||||||||||
Recoveries | 22 | 2 | 225 | 47 | 5 | 301 | ||||||||||||||
Ending Balance | $ | 2,214 | $ | 6,864 | $ | 1,230 | $ | 4,369 | $ | 3 | $ | 14,680 | ||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Beginning balance | $ | 6,597 | $ | 15,023 | $ | 2,527 | $ | 8,110 | $ | 322 | $ | 32,579 | ||||||||
Provision for loan loss | 1,617 | (371 | ) | 558 | 1,592 | 14 | 3,410 | |||||||||||||
Charged-off | (663 | ) | (954 | ) | (1,071 | ) | (1,068 | ) | (404 | ) | (4,160 | ) | ||||||||
Recoveries | 122 | 442 | 280 | 312 | 299 | 1,455 | ||||||||||||||
Ending Balance | $ | 7,673 | $ | 14,140 | $ | 2,294 | $ | 8,946 | $ | 231 | $ | 33,284 | ||||||||
Florida | ||||||||||||||||||||
Beginning balance | $ | 1,437 | $ | 6,062 | $ | 2,315 | $ | 5,614 | $ | 5 | $ | 15,433 | ||||||||
Provision for loan loss | 722 | 3,356 | (1,332 | ) | (143 | ) | (13 | ) | 2,590 | |||||||||||
Charged-off | — | (2,543 | ) | (55 | ) | (1,615 | ) | (7 | ) | (4,220 | ) | |||||||||
Recoveries | 55 | (11 | ) | 302 | 513 | 18 | 877 | |||||||||||||
Ending Balance | $ | 2,214 | $ | 6,864 | $ | 1,230 | $ | 4,369 | $ | 3 | $ | 14,680 | ||||||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Beginning balance | $ | 6,131 | $ | 15,373 | $ | 4,304 | $ | 7,320 | $ | 328 | $ | 33,456 | ||||||||
Provision for loan loss | 1,209 | 1,403 | 324 | (358 | ) | 59 | 2,637 | |||||||||||||
Charged-off | (1,194 | ) | (1,716 | ) | (538 | ) | (463 | ) | (128 | ) | (4,039 | ) | ||||||||
Recoveries | 15 | 6 | — | 130 | 43 | 194 | ||||||||||||||
Ending Balance | $ | 6,161 | $ | 15,066 | $ | 4,090 | $ | 6,629 | $ | 302 | $ | 32,248 | ||||||||
Florida | ||||||||||||||||||||
Beginning balance | $ | 1,871 | $ | 7,426 | $ | 2,348 | $ | 5,756 | $ | 9 | $ | 17,410 | ||||||||
Provision for loan loss | (125 | ) | 35 | (64 | ) | 1,021 | (4 | ) | 863 | |||||||||||
Charged-off | (6 | ) | (229 | ) | (176 | ) | (1,162 | ) | — | (1,573 | ) | |||||||||
Recoveries | 110 | 3 | 109 | 40 | 3 | 265 | ||||||||||||||
Ending Balance | $ | 1,850 | $ | 7,235 | $ | 2,217 | $ | 5,655 | $ | 8 | $ | 16,965 | ||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Beginning balance | $ | 9,143 | $ | 18,605 | $ | 4,352 | $ | 6,473 | $ | 464 | $ | 39,037 | ||||||||
Provision for loan loss | (281 | ) | 8,485 | 856 | 2,130 | 67 | 11,257 | |||||||||||||
Charged-off | (2,880 | ) | (12,332 | ) | (1,280 | ) | (2,517 | ) | (405 | ) | (19,414 | ) | ||||||||
Recoveries | 179 | 308 | 162 | 543 | 176 | 1,368 | ||||||||||||||
Ending Balance | $ | 6,161 | $ | 15,066 | $ | 4,090 | $ | 6,629 | $ | 302 | $ | 32,248 | ||||||||
Florida | ||||||||||||||||||||
Beginning balance | $ | 1,939 | $ | 8,413 | $ | 2,936 | $ | 6,160 | $ | 21 | $ | 19,469 | ||||||||
Provision for loan loss | (522 | ) | 428 | (644 | ) | 2,506 | (25 | ) | 1,743 | |||||||||||
Charged-off | (90 | ) | (1,649 | ) | (336 | ) | (3,247 | ) | (1 | ) | (5,323 | ) | ||||||||
Recoveries | 523 | 43 | 261 | 236 | 13 | 1,076 | ||||||||||||||
Ending Balance | $ | 1,850 | $ | 7,235 | $ | 2,217 | $ | 5,655 | $ | 8 | $ | 16,965 | ||||||||
Schedule of allowance for loan losses and recorded investments | ' | |||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail Other | Total | |||||||||||||||
Real Estate | Construction | Estate | ||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Amount allocated to: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | 847 | $ | 954 | $ | 218 | $ | 754 | $ | — | $ | 2,773 | ||||||||
Loans collectively evaluated for impairment | 6,826 | 13,186 | 2,076 | 8,192 | 231 | 30,511 | ||||||||||||||
Ending Balance | $ | 7,673 | $ | 14,140 | $ | 2,294 | $ | 8,946 | $ | 231 | $ | 33,284 | ||||||||
Loans: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | 2,812 | $ | 9,103 | $ | 4,655 | $ | 5,080 | $ | — | $ | 21,650 | ||||||||
Loans collectively evaluated for impairment | 535,199 | 885,672 | 54,565 | 419,517 | 9,293 | 1,904,246 | ||||||||||||||
Ending Balance | $ | 538,011 | $ | 894,775 | $ | 59,220 | $ | 424,597 | $ | 9,293 | $ | 1,925,896 | ||||||||
Florida | ||||||||||||||||||||
Amount allocated to: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | 123 | $ | — | $ | 91 | $ | — | $ | 214 | ||||||||
Loans collectively evaluated for impairment | 2,214 | 6,741 | 1,230 | 4,278 | 3 | 14,466 | ||||||||||||||
Ending Balance | $ | 2,214 | $ | 6,864 | $ | 1,230 | $ | 4,369 | $ | 3 | $ | 14,680 | ||||||||
Loans: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | 5,360 | $ | 430 | $ | 9,965 | $ | — | $ | 15,755 | ||||||||
Loans collectively evaluated for impairment | 21,544 | 164,845 | 11,398 | 93,153 | 514 | 291,454 | ||||||||||||||
Ending Balance | $ | 21,544 | $ | 170,205 | $ | 11,828 | $ | 103,118 | $ | 514 | $ | 307,209 | ||||||||
As of December 31, 2012 | ||||||||||||||||||||
Commercial | Commercial | Real Estate | Retail Real | Retail | Total | |||||||||||||||
Real Estate | Construction | Estate | Other | |||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Illinois/Indiana | ||||||||||||||||||||
Amount allocated to: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | 265 | $ | 634 | $ | — | $ | 140 | $ | — | $ | 1,039 | ||||||||
Loans collectively evaluated for impairment | 6,332 | 14,389 | 2,527 | 7,970 | 322 | 31,540 | ||||||||||||||
Ending Balance | $ | 6,597 | $ | 15,023 | $ | 2,527 | $ | 8,110 | $ | 322 | $ | 32,579 | ||||||||
Loans: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | 7,479 | $ | 13,308 | $ | 6,394 | $ | 5,196 | $ | — | $ | 32,377 | ||||||||
Loans collectively evaluated for impairment | 415,348 | 829,654 | 63,735 | 404,867 | 11,944 | 1,725,548 | ||||||||||||||
Ending Balance | $ | 422,827 | $ | 842,962 | $ | 70,129 | $ | 410,063 | $ | 11,944 | $ | 1,757,925 | ||||||||
Florida | ||||||||||||||||||||
Amount allocated to: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | 235 | $ | — | $ | 483 | $ | — | $ | 718 | ||||||||
Loans collectively evaluated for impairment | 1,437 | 5,827 | 2,315 | 5,131 | 5 | 14,715 | ||||||||||||||
Ending Balance | $ | 1,437 | $ | 6,062 | $ | 2,315 | $ | 5,614 | $ | 5 | $ | 15,433 | ||||||||
Loans: | ||||||||||||||||||||
Loans individually evaluated for impairment | $ | — | $ | 6,573 | $ | 2,597 | $ | 14,046 | $ | — | $ | 23,216 | ||||||||
Loans collectively evaluated for impairment | 10,861 | 131,597 | 13,375 | 95,724 | 409 | 251,966 | ||||||||||||||
Ending Balance | $ | 10,861 | $ | 138,170 | $ | 15,972 | $ | 109,770 | $ | 409 | $ | 275,182 |
Securities_Sold_Under_Agreemen1
Securities Sold Under Agreements to Repurchase (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Securities Sold Under Agreements to Repurchase | ' | |||||||
Schedule of distribution of securities sold under agreements to repurchase and weighted average interest rates | ' | |||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
(dollars in thousands) | ||||||||
Balance | $ | 156,510 | $ | 139,024 | ||||
Weighted average interest rate at end of period | 0.15 | % | 0.15 | % | ||||
Maximum outstanding at any month end | $ | 156,510 | $ | 146,710 | ||||
Average daily balance | $ | 131,093 | $ | 132,150 | ||||
Weighted average interest rate during period (1) | 0.13 | % | 0.21 | % | ||||
(1)The weighted average interest rate is computed by dividing total interest for the year-to-date period by the average daily balance outstanding. |
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Earnings Per Common Share | ' | |||||||||||||
Schedule of earnings per common share | ' | |||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(in thousands, except per share data) | ||||||||||||||
Net income available to common stockholders | $ | 7,024 | $ | 4,000 | $ | 19,081 | $ | 14,715 | ||||||
Shares: | ||||||||||||||
Weighted average common shares outstanding | 86,801 | 86,654 | 86,745 | 86,634 | ||||||||||
Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method | 275 | 8 | 299 | 9 | ||||||||||
Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation | 87,076 | 86,662 | 87,044 | 86,643 | ||||||||||
Basic earnings per common share | $ | 0.08 | $ | 0.05 | $ | 0.22 | $ | 0.17 | ||||||
Diluted earnings per common share | $ | 0.08 | $ | 0.05 | $ | 0.22 | $ | 0.17 |
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Stock-based Compensation | ' | ||||||||||
Schedule of status and changes in stock option awards | ' | ||||||||||
Weighted- | Weighted- | ||||||||||
Average | Average | ||||||||||
Exercise | Remaining Contractual | ||||||||||
Shares | Price | Term | |||||||||
Outstanding at beginning of year | 857,468 | $ | 17.01 | ||||||||
Granted | — | — | |||||||||
Exercised | — | — | |||||||||
Forfeited | 156,439 | 16 | |||||||||
Outstanding at end of period | 701,029 | $ | 17.24 | 2.32 | |||||||
Exercisable at end of period | 701,029 | $ | 17.24 | 2.32 | |||||||
Summary of the changes in the company's stock unit awards | ' | ||||||||||
Director | Weighted- | ||||||||||
Restricted | Deferred | Average | |||||||||
Stock | Stock | Grant Date | |||||||||
Units | Units | Total | Fair Value | ||||||||
Non-vested at beginning of year | 736,412 | 32,991 | 769,403 | $ | 4.92 | ||||||
Granted | 351,452 | 28,800 | 380,252 | 5.02 | |||||||
Dividend Equivalents Earned | 9,903 | 946 | 10,849 | 4.59 | |||||||
Vested | (102,530 | ) | (33,937 | ) | (136,467 | ) | 4.7 | ||||
Forfeited | (20,014 | ) | — | (20,014 | ) | 5.23 | |||||
Non-vested at end of period | 975,223 | 28,800 | 1,004,023 | $ | 4.98 | ||||||
Outstanding at end of period | 975,223 | 86,666 | 1,061,889 | $ | 4.98 |
Outstanding_Commitments_and_Co1
Outstanding Commitments and Contingent Liabilities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Outstanding Commitments and Contingent Liabilities | ' | |||||||
Schedule of contractual amount of exposure to off-balance-sheet risk | ' | |||||||
September 30, 2013 | December 31, 2012 | |||||||
(dollars in thousands) | ||||||||
Financial instruments whose contract amounts represent credit risk: | ||||||||
Commitments to extend credit | $ | 560,234 | $ | 483,373 | ||||
Standby letters of credit | 10,035 | 12,305 | ||||||
Reportable_Segments_and_Relate1
Reportable Segments and Related Information (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Reportable Segments and Related Information | ' | |||||||||||||
Summary of information relating to reportable segments | ' | |||||||||||||
Goodwill | Total Assets | |||||||||||||
September 30, | December 31, | September 30, | December 31, | |||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(dollars in thousands) | (dollars in thousands) | |||||||||||||
Goodwill & Total Assets: | ||||||||||||||
Busey Bank | $ | — | $ | — | $ | 3,448,907 | $ | 3,567,637 | ||||||
FirsTech | 8,992 | 8,992 | 26,946 | 26,401 | ||||||||||
Busey Wealth Management | 11,694 | 11,694 | 27,855 | 26,653 | ||||||||||
All Other | — | — | 28,316 | (2,635 | ) | |||||||||
Total | $ | 20,686 | $ | 20,686 | $ | 3,532,024 | $ | 3,618,056 | ||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||
(dollars in thousands) | (dollars in thousands) | |||||||||||||
Interest Income: | ||||||||||||||
Busey Bank | $ | 27,167 | $ | 28,935 | $ | 81,597 | $ | 88,093 | ||||||
FirsTech | 13 | 15 | 39 | 48 | ||||||||||
Busey Wealth Management | 62 | 62 | 179 | 192 | ||||||||||
All Other | (6 | ) | (1 | ) | (4 | ) | (1 | ) | ||||||
Total interest income | $ | 27,236 | $ | 29,011 | $ | 81,811 | $ | 88,332 | ||||||
Interest Expense: | ||||||||||||||
Busey Bank | $ | 1,709 | $ | 3,138 | $ | 5,858 | $ | 10,828 | ||||||
FirsTech | — | — | — | — | ||||||||||
Busey Wealth Management | — | — | — | — | ||||||||||
All Other | 294 | 328 | 892 | 987 | ||||||||||
Total interest expense | $ | 2,003 | $ | 3,466 | $ | 6,750 | $ | 11,815 | ||||||
Other Income: | ||||||||||||||
Busey Bank | $ | 9,447 | $ | 9,850 | $ | 29,542 | $ | 29,592 | ||||||
FirsTech | 2,167 | 2,094 | 6,445 | 6,418 | ||||||||||
Busey Wealth Management | 4,540 | 4,061 | 13,286 | 12,332 | ||||||||||
All Other | (524 | ) | (416 | ) | (1,219 | ) | 897 | |||||||
Total other income | $ | 15,630 | $ | 15,589 | $ | 48,054 | $ | 49,239 | ||||||
Net Income: | ||||||||||||||
Busey Bank | $ | 6,963 | $ | 4,642 | $ | 19,243 | $ | 14,859 | ||||||
FirsTech | 259 | 237 | 807 | 746 | ||||||||||
Busey Wealth Management | 1,173 | 780 | 3,126 | 2,647 | ||||||||||
All Other | (462 | ) | (750 | ) | (1,370 | ) | (812 | ) | ||||||
Total net income | $ | 7,933 | $ | 4,909 | $ | 21,806 | $ | 17,440 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Fair Value Measurements | ' | |||||||||||||
Schedule of financial assets and financial liabilities measured at fair value on a recurring basis | ' | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
Inputs | Inputs | Inputs | Fair Value | |||||||||||
(dollars in thousands) | ||||||||||||||
September 30, 2013 | ||||||||||||||
Available for sale | ||||||||||||||
U.S. Treasury securities | $ | — | $ | 103,338 | $ | — | $ | 103,338 | ||||||
Obligations of U.S. government corporations and agencies | — | 288,369 | — | 288,369 | ||||||||||
Obligations of states and political subdivisions | — | 293,287 | — | 293,287 | ||||||||||
Residential mortgage-backed securities | — | 190,133 | — | 190,133 | ||||||||||
Corporate debt securities | — | 25,490 | — | 25,490 | ||||||||||
Mutual funds and other equity securities | 6,805 | — | — | 6,805 | ||||||||||
$ | 6,805 | $ | 900,617 | $ | — | $ | 907,422 | |||||||
December 31, 2012 | ||||||||||||||
Available for sale | ||||||||||||||
U.S. Treasury securities | $ | — | $ | 104,656 | $ | — | $ | 104,656 | ||||||
Obligations of U.S. government corporations and agencies | — | 370,194 | — | 370,194 | ||||||||||
Obligations of states and political subdivisions | — | 280,288 | — | 280,288 | ||||||||||
Residential mortgage-backed securities | — | 217,715 | — | 217,715 | ||||||||||
Corporate debt securities | 24,714 | — | — | 24,714 | ||||||||||
Mutual funds and other equity securities | 3,930 | — | — | 3,930 | ||||||||||
$ | 28,644 | $ | 972,853 | $ | — | $ | 1,001,497 | |||||||
Schedule of assets and liabilities measured at fair value on a non-recurring basis | ' | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
Inputs | Inputs | Inputs | Fair Value | |||||||||||
(dollars in thousands) | ||||||||||||||
September 30, 2013 | ||||||||||||||
Impaired loans | $ | — | $ | — | $ | 3,963 | $ | 3,963 | ||||||
OREO | — | — | 1,192 | 1,192 | ||||||||||
December 31, 2012 | ||||||||||||||
Impaired loans | $ | — | $ | — | $ | 2,284 | $ | 2,284 | ||||||
OREO | — | — | 511 | 511 | ||||||||||
Schedule of quantitative information about Level 3 fair value measurements | ' | |||||||||||||
Quantitative Information about Level 3 Fair Value Measurements | ||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||
Estimate | Techniques | Input | (Weighted Average) | |||||||||||
(dollars in thousands) | ||||||||||||||
September 30, 2013 | ||||||||||||||
Impaired loans | $ | 3,963 | Appraisal of collateral | Appraisal adjustments | -0.8% to -100.0% | |||||||||
(-34.9%) | ||||||||||||||
OREO | 1,192 | Appraisal of collateral | Appraisal adjustments | -6.1% to -100.0% | ||||||||||
(-48.7%) | ||||||||||||||
Schedule of estimated fair values of financial instruments | ' | |||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||
Amount | Value | Amount | Value | |||||||||||
(dollars in thousands) | ||||||||||||||
Financial assets: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Cash and due from banks | $ | 198,668 | $ | 198,668 | $ | 351,255 | $ | 351,255 | ||||||
Securities held to maturity | 838 | 844 | — | — | ||||||||||
Loans held for sale | 17,500 | 17,828 | 40,003 | 40,971 | ||||||||||
Accrued interest receivable | 12,371 | 12,371 | 12,275 | 12,275 | ||||||||||
Level 3 inputs: | ||||||||||||||
Loans, net | 2,185,141 | 2,189,051 | 1,985,095 | 2,006,588 | ||||||||||
Financial liabilities: | ||||||||||||||
Level 2 inputs: | ||||||||||||||
Deposits | $ | 2,879,852 | $ | 2,882,254 | $ | 2,980,292 | $ | 2,987,524 | ||||||
Securities sold under agreements to repurchase | 156,510 | 156,510 | 139,024 | 139,024 | ||||||||||
Long-term debt | — | — | 7,000 | 7,120 | ||||||||||
Junior subordinated debt owed to unconsolidated trusts | 55,000 | 55,000 | 55,000 | 55,000 | ||||||||||
Accrued interest payable | 742 | 742 | 1,128 | 1,128 |
Basis_of_Presentation_Details
Basis of Presentation (Details) | 3 Months Ended |
Sep. 30, 2013 | |
item | |
Basis of Presentation | ' |
Number of significant subsequent events | 0 |
Securities_Details
Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
item | item | ||||
Available for sale | ' | ' | ' | ' | ' |
Amortized Cost | $896,609,000 | ' | $896,609,000 | ' | $978,477,000 |
Gross Unrealized Gains | ' | ' | 13,973,000 | ' | 23,289,000 |
Gross Unrealized Losses | ' | ' | -3,160,000 | ' | -269,000 |
Fair Value | 907,422,000 | ' | 907,422,000 | ' | 1,001,497,000 |
Held to maturity | ' | ' | ' | ' | ' |
Amortized Cost | 838,000 | ' | 838,000 | ' | ' |
Gross Unrealized Gains | 6,000 | ' | ' | ' | ' |
Fair Value | 844,000 | ' | 844,000 | ' | ' |
Available for sale, Amortized Cost | ' | ' | ' | ' | ' |
Due in one year or less | 151,701,000 | ' | 151,701,000 | ' | ' |
Due after one year through five years | 478,362,000 | ' | 478,362,000 | ' | ' |
Due after five years through ten years | 182,805,000 | ' | 182,805,000 | ' | ' |
Due after ten years | 79,091,000 | ' | 79,091,000 | ' | ' |
Amortized Cost | 891,959,000 | ' | 891,959,000 | ' | ' |
Available for sale, Fair Value | ' | ' | ' | ' | ' |
Due in one year or less | 152,776,000 | ' | 152,776,000 | ' | ' |
Due after one year through five years | 481,436,000 | ' | 481,436,000 | ' | ' |
Due after five years through ten years | 185,574,000 | ' | 185,574,000 | ' | ' |
Due after ten years | 80,831,000 | ' | 80,831,000 | ' | ' |
Fair Value | 900,617,000 | ' | 900,617,000 | ' | ' |
Held to maturity, Amortized Cost | ' | ' | ' | ' | ' |
Due after one year through five years | 234,000 | ' | 234,000 | ' | ' |
Due after five years through ten years | 496,000 | ' | 496,000 | ' | ' |
Due after ten years | 108,000 | ' | 108,000 | ' | ' |
Amortized Cost | 838,000 | ' | 838,000 | ' | ' |
Held to maturity, Fair Value | ' | ' | ' | ' | ' |
Due after one year through five years | 235,000 | ' | 235,000 | ' | ' |
Due after five years through ten years | 499,000 | ' | 499,000 | ' | ' |
Due after ten years | 110,000 | ' | 110,000 | ' | ' |
Fair Value | 844,000 | ' | 844,000 | ' | ' |
Realized gains and losses related to sales of securities available for sale | ' | ' | ' | ' | ' |
Gross security gains | 82,000 | 511,000 | 82,000 | 576,000 | ' |
Gross security (losses) | ' | ' | ' | -1,000 | ' |
Net security gains | 82,000 | 511,000 | 82,000 | 575,000 | ' |
Tax provision related to net realized gains (losses) | ' | 200,000 | ' | 200,000 | ' |
Carrying amount of investment securities pledged as collateral | 428,700,000 | ' | 428,700,000 | ' | 489,100,000 |
Available for sale, Fair Value | ' | ' | ' | ' | ' |
Less than 12 months | 203,251,000 | ' | 203,251,000 | ' | 63,320,000 |
Greater than 12 months | 4,582,000 | ' | 4,582,000 | ' | 3,311,000 |
Total | 207,833,000 | ' | 207,833,000 | ' | 66,631,000 |
Available for sale, Unrealized Losses | ' | ' | ' | ' | ' |
Less than 12 months | 3,096,000 | ' | 3,096,000 | ' | 220,000 |
Greater than 12 months | 64,000 | ' | 64,000 | ' | 49,000 |
Total | 3,160,000 | ' | 3,160,000 | ' | 269,000 |
Held to maturity, Fair Value | ' | ' | ' | ' | ' |
Less than 12 months | 183,000 | ' | 183,000 | ' | ' |
Total | 183,000 | ' | 183,000 | ' | ' |
Held to maturity, Unrealized Losses | ' | ' | ' | ' | ' |
Number of securities in unrealized loss position | 312 | ' | 312 | ' | ' |
Securities in unrealized loss position as a percentage of aggregate carrying value of investments | 1.50% | ' | 1.50% | ' | ' |
Debt securities | ' | ' | ' | ' | ' |
Available for sale | ' | ' | ' | ' | ' |
Amortized Cost | 891,959,000 | ' | 891,959,000 | ' | 976,026,000 |
Gross Unrealized Gains | ' | ' | 11,818,000 | ' | 21,810,000 |
Gross Unrealized Losses | ' | ' | -3,160,000 | ' | -269,000 |
Fair Value | 900,617,000 | ' | 900,617,000 | ' | 997,567,000 |
U.S. Treasury securities | ' | ' | ' | ' | ' |
Available for sale | ' | ' | ' | ' | ' |
Amortized Cost | 103,024,000 | ' | 103,024,000 | ' | 103,353,000 |
Gross Unrealized Gains | ' | ' | 385,000 | ' | 1,303,000 |
Gross Unrealized Losses | ' | ' | -71,000 | ' | ' |
Fair Value | 103,338,000 | ' | 103,338,000 | ' | 104,656,000 |
Available for sale, Fair Value | ' | ' | ' | ' | ' |
Less than 12 months | 36,520,000 | ' | 36,520,000 | ' | ' |
Total | 36,520,000 | ' | 36,520,000 | ' | ' |
Available for sale, Unrealized Losses | ' | ' | ' | ' | ' |
Less than 12 months | 71,000 | ' | 71,000 | ' | ' |
Total | 71,000 | ' | 71,000 | ' | ' |
Obligations of U.S. government corporations and agencies | ' | ' | ' | ' | ' |
Available for sale | ' | ' | ' | ' | ' |
Amortized Cost | 285,452,000 | ' | 285,452,000 | ' | 363,583,000 |
Gross Unrealized Gains | ' | ' | 3,258,000 | ' | 6,616,000 |
Gross Unrealized Losses | ' | ' | -341,000 | ' | -5,000 |
Fair Value | 288,369,000 | ' | 288,369,000 | ' | 370,194,000 |
Available for sale, Fair Value | ' | ' | ' | ' | ' |
Less than 12 months | 25,264,000 | ' | 25,264,000 | ' | 10,155,000 |
Total | 25,264,000 | ' | 25,264,000 | ' | 10,155,000 |
Available for sale, Unrealized Losses | ' | ' | ' | ' | ' |
Less than 12 months | 341,000 | ' | 341,000 | ' | 5,000 |
Total | 341,000 | ' | 341,000 | ' | 5,000 |
Obligations of states and political subdivisions | ' | ' | ' | ' | ' |
Available for sale | ' | ' | ' | ' | ' |
Amortized Cost | 292,492,000 | ' | 292,492,000 | ' | 274,350,000 |
Gross Unrealized Gains | ' | ' | 3,258,000 | ' | 6,176,000 |
Gross Unrealized Losses | ' | ' | -2,463,000 | ' | -238,000 |
Fair Value | 293,287,000 | ' | 293,287,000 | ' | 280,288,000 |
Held to maturity | ' | ' | ' | ' | ' |
Amortized Cost | 838,000 | ' | 838,000 | ' | ' |
Gross Unrealized Gains | ' | ' | 6,000 | ' | ' |
Fair Value | 844,000 | ' | 844,000 | ' | ' |
Held to maturity, Amortized Cost | ' | ' | ' | ' | ' |
Amortized Cost | 838,000 | ' | 838,000 | ' | ' |
Held to maturity, Fair Value | ' | ' | ' | ' | ' |
Fair Value | 844,000 | ' | 844,000 | ' | ' |
Available for sale, Fair Value | ' | ' | ' | ' | ' |
Less than 12 months | 116,930,000 | ' | 116,930,000 | ' | 37,958,000 |
Greater than 12 months | 4,582,000 | ' | 4,582,000 | ' | 3,311,000 |
Total | 121,512,000 | ' | 121,512,000 | ' | 41,269,000 |
Available for sale, Unrealized Losses | ' | ' | ' | ' | ' |
Less than 12 months | 2,399,000 | ' | 2,399,000 | ' | 189,000 |
Greater than 12 months | 64,000 | ' | 64,000 | ' | 49,000 |
Total | 2,463,000 | ' | 2,463,000 | ' | 238,000 |
Held to maturity, Fair Value | ' | ' | ' | ' | ' |
Less than 12 months | 183,000 | ' | 183,000 | ' | ' |
Total | 183,000 | ' | 183,000 | ' | ' |
Obligations of states and political subdivisions | Maximum | ' | ' | ' | ' | ' |
Held to maturity, Unrealized Losses | ' | ' | ' | ' | ' |
Total | ' | ' | 1,000 | ' | ' |
Residential mortgage-backed securities | ' | ' | ' | ' | ' |
Available for sale | ' | ' | ' | ' | ' |
Amortized Cost | 185,584,000 | ' | 185,584,000 | ' | 210,139,000 |
Gross Unrealized Gains | ' | ' | 4,802,000 | ' | 7,576,000 |
Gross Unrealized Losses | ' | ' | -253,000 | ' | ' |
Fair Value | 190,133,000 | ' | 190,133,000 | ' | 217,715,000 |
Available for sale, Fair Value | ' | ' | ' | ' | ' |
Less than 12 months | 15,183,000 | ' | 15,183,000 | ' | ' |
Total | 15,183,000 | ' | 15,183,000 | ' | ' |
Available for sale, Unrealized Losses | ' | ' | ' | ' | ' |
Less than 12 months | 253,000 | ' | 253,000 | ' | ' |
Total | 253,000 | ' | 253,000 | ' | ' |
Corporate debt securities | ' | ' | ' | ' | ' |
Available for sale | ' | ' | ' | ' | ' |
Amortized Cost | 25,407,000 | ' | 25,407,000 | ' | 24,601,000 |
Gross Unrealized Gains | ' | ' | 115,000 | ' | 139,000 |
Gross Unrealized Losses | ' | ' | -32,000 | ' | -26,000 |
Fair Value | 25,490,000 | ' | 25,490,000 | ' | 24,714,000 |
Available for sale, Fair Value | ' | ' | ' | ' | ' |
Less than 12 months | 9,354,000 | ' | 9,354,000 | ' | 15,207,000 |
Total | 9,354,000 | ' | 9,354,000 | ' | 15,207,000 |
Available for sale, Unrealized Losses | ' | ' | ' | ' | ' |
Less than 12 months | 32,000 | ' | 32,000 | ' | 26,000 |
Total | 32,000 | ' | 32,000 | ' | 26,000 |
Mutual funds and other equity securities | ' | ' | ' | ' | ' |
Available for sale | ' | ' | ' | ' | ' |
Amortized Cost | 4,650,000 | ' | 4,650,000 | ' | 2,451,000 |
Gross Unrealized Gains | ' | ' | 2,155,000 | ' | 1,479,000 |
Fair Value | $6,805,000 | ' | $6,805,000 | ' | $3,930,000 |
Loans_Details
Loans (Details) (USD $) | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | |
item | Illinois | Illinois | Florida | Florida | Florida | Florida | Florida | Florida | Indiana | Indiana | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail other | Retail other | Retail other | Retail other | Retail other | Retail other | Retail other | Retail other | Retail other | Retail other | Retail other | Retail other | ||
mi | Illinois | Illinois | Florida | Florida | Florida | Florida | Florida | Florida | Indiana | Indiana | Illinois | Illinois | Florida | Florida | Florida | Florida | Florida | Florida | Indiana | Indiana | Illinois | Illinois | Florida | Florida | Florida | Florida | Florida | Florida | Indiana | Indiana | Illinois | Illinois | Florida | Florida | Florida | Florida | Florida | Florida | Indiana | Indiana | Illinois | Illinois | Florida | Florida | Florida | Florida | Florida | Florida | Indiana | Indiana | ||||||||||||||||||||||
Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total | $2,250,605,000 | $2,073,110,000 | $1,815,557,000 | $1,691,946,000 | $308,191,000 | ' | $277,464,000 | ' | ' | ' | $126,857,000 | $103,700,000 | $559,555,000 | $433,688,000 | $511,567,000 | $399,300,000 | $21,544,000 | ' | $10,861,000 | ' | ' | ' | $26,444,000 | $23,527,000 | $1,064,980,000 | $981,132,000 | $808,708,000 | $777,752,000 | $170,205,000 | ' | $138,170,000 | ' | ' | ' | $86,067,000 | $65,210,000 | $71,048,000 | $86,101,000 | $56,590,000 | $67,152,000 | $11,828,000 | ' | $15,972,000 | ' | ' | ' | $2,630,000 | $2,977,000 | $545,215,000 | $559,836,000 | $429,497,000 | $435,911,000 | $104,100,000 | ' | $112,052,000 | ' | ' | ' | $11,618,000 | $11,873,000 | $9,807,000 | $12,353,000 | $9,195,000 | $11,831,000 | $514,000 | ' | $409,000 | ' | ' | ' | $98,000 | $113,000 |
Less held for sale | 17,500,000 | 40,003,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total loans before allowance for loan losses | 2,233,105,000 | 2,033,107,000 | ' | ' | 307,209,000 | ' | 275,182,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,544,000 | ' | 10,861,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 170,205,000 | ' | 138,170,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,828,000 | ' | 15,972,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 103,118,000 | ' | 109,770,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 514,000 | ' | 409,000 | ' | ' | ' | ' | ' |
Less allowance for loan losses | 47,964,000 | 48,012,000 | ' | ' | 14,680,000 | 16,244,000 | 15,433,000 | 16,965,000 | 17,410,000 | 19,469,000 | ' | ' | ' | ' | ' | ' | 2,214,000 | 1,505,000 | 1,437,000 | 1,850,000 | 1,871,000 | 1,939,000 | ' | ' | ' | ' | ' | ' | 6,864,000 | 7,656,000 | 6,062,000 | 7,235,000 | 7,426,000 | 8,413,000 | ' | ' | ' | ' | ' | ' | 1,230,000 | 2,693,000 | 2,315,000 | 2,217,000 | 2,348,000 | 2,936,000 | ' | ' | ' | ' | ' | ' | 4,369,000 | 4,387,000 | 5,614,000 | 5,655,000 | 5,756,000 | 6,160,000 | ' | ' | ' | ' | ' | ' | 3,000 | 3,000 | 5,000 | 8,000 | 9,000 | 21,000 | ' | ' |
Net loans | 2,185,141,000 | 1,985,095,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net deferred loan origination costs | 400,000 | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum target period for lending via intermediate term loans | '0 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum target period for lending via intermediate term loans | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Geographical area from lending offices which attempt is made to lend short and intermediate term loans (in miles) | 125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Direct and indirect maximum total borrowing relationship limit | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing relationships, threshold above which board of directors will review annually | $20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of primary areas for lending loan | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Details_2
Loans (Details 2) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Grades 1,3,6 | ' | ' |
Loans | ' | ' |
Loans receivable | $1,855,869,000 | $1,594,150,000 |
Grades 1,3,6 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 1,638,890,000 | 1,419,453,000 |
Grades 1,3,6 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 216,979,000 | 174,697,000 |
Grade 7 | ' | ' |
Loans | ' | ' |
Loans receivable | 195,914,000 | 209,424,000 |
Grade 7 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 154,894,000 | 171,123,000 |
Grade 7 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 41,020,000 | 38,301,000 |
Grade 8 | ' | ' |
Loans | ' | ' |
Limit above which loans are quarterly reviewed | 500,000 | ' |
Loans receivable | 86,556,000 | 114,462,000 |
Grade 8 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 61,457,000 | 84,647,000 |
Grade 8 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 25,099,000 | 29,815,000 |
Grade 9 | ' | ' |
Loans | ' | ' |
Loans receivable | 72,028,000 | 88,581,000 |
Grade 9 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 52,153,000 | 64,299,000 |
Grade 9 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 19,875,000 | 24,282,000 |
Grade 10 | ' | ' |
Loans | ' | ' |
Loans receivable | 18,489,000 | 25,104,000 |
Grade 10 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 14,252,000 | 17,553,000 |
Grade 10 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 4,237,000 | 7,551,000 |
Grades 1, 3, 6 and 7 | ' | ' |
Loans | ' | ' |
Loans receivable | 2,100,000,000 | 1,800,000,000 |
Grades 8, 9, and 10 | ' | ' |
Loans | ' | ' |
Loans receivable | 177,100,000 | 228,100,000 |
Commercial | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 4.7 | 4.68 |
Commercial | Florida | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 5.85 | 5.91 |
Commercial | Grades 1,3,6 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 466,334,000 | 346,536,000 |
Commercial | Grades 1,3,6 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 17,311,000 | 6,359,000 |
Commercial | Grade 7 | ' | ' |
Loans | ' | ' |
Limit above which loans are annually reviewed | 500,000 | ' |
Commercial | Grade 7 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 46,901,000 | 46,201,000 |
Commercial | Grade 7 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 244,000 | 3,544,000 |
Commercial | Grade 8 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 14,199,000 | 12,374,000 |
Commercial | Grade 8 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 3,301,000 | 162,000 |
Commercial | Grade 9 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 9,073,000 | 15,677,000 |
Commercial | Grade 9 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 688,000 | 796,000 |
Commercial | Grade 10 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 1,504,000 | 2,039,000 |
Commercial real estate | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 5.53 | 5.53 |
Commercial real estate | Florida | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 6.19 | 6.36 |
Commercial real estate | Grades 1,3,6 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 746,360,000 | 644,695,000 |
Commercial real estate | Grades 1,3,6 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 119,046,000 | 80,232,000 |
Commercial real estate | Grade 7 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 85,757,000 | 110,012,000 |
Commercial real estate | Grade 7 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 21,299,000 | 20,667,000 |
Commercial real estate | Grade 8 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 29,436,000 | 50,305,000 |
Commercial real estate | Grade 8 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 11,531,000 | 13,238,000 |
Commercial real estate | Grade 9 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 26,779,000 | 28,655,000 |
Commercial real estate | Grade 9 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 15,179,000 | 19,279,000 |
Commercial real estate | Grade 10 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 6,443,000 | 9,295,000 |
Commercial real estate | Grade 10 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 3,150,000 | 4,754,000 |
Real estate construction | ' | ' |
Loans | ' | ' |
Limit above which loans are quarterly reviewed | 500,000 | ' |
Real estate construction | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 7.24 | 7.21 |
Real estate construction | Florida | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 7.04 | 6.97 |
Real estate construction | Grades 1,3,6 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 17,759,000 | 30,710,000 |
Real estate construction | Grades 1,3,6 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 2,026,000 | 4,137,000 |
Real estate construction | Grade 7 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 16,365,000 | 7,809,000 |
Real estate construction | Grade 7 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 8,097,000 | 7,721,000 |
Real estate construction | Grade 8 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 12,420,000 | 14,162,000 |
Real estate construction | Grade 8 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 767,000 | 3,172,000 |
Real estate construction | Grade 9 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 10,166,000 | 14,084,000 |
Real estate construction | Grade 9 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 938,000 | 942,000 |
Real estate construction | Grade 10 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 2,510,000 | 3,364,000 |
Retail real estate | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 3.55 | 3.62 |
Retail real estate | Florida | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 3.84 | 3.98 |
Retail real estate | Grades 1,3,6 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 399,303,000 | 385,949,000 |
Retail real estate | Grades 1,3,6 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 78,082,000 | 83,578,000 |
Retail real estate | Grade 7 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 5,717,000 | 6,729,000 |
Retail real estate | Grade 7 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 11,380,000 | 6,369,000 |
Retail real estate | Grade 8 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 5,402,000 | 7,806,000 |
Retail real estate | Grade 8 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 9,500,000 | 13,225,000 |
Retail real estate | Grade 9 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 6,130,000 | 5,874,000 |
Retail real estate | Grade 9 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 3,070,000 | 3,265,000 |
Retail real estate | Grade 10 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 3,795,000 | 2,855,000 |
Retail real estate | Grade 10 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 1,087,000 | 2,797,000 |
Retail other | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 2.98 | 3.34 |
Retail other | Florida | ' | ' |
Loans | ' | ' |
Weighted Avg. Risk Grade | 1.75 | 2.8 |
Retail other | Grades 1,3,6 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 9,134,000 | 11,563,000 |
Retail other | Grades 1,3,6 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | 514,000 | 391,000 |
Retail other | Grade 7 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | 154,000 | 372,000 |
Retail other | Grade 8 | Florida | ' | ' |
Loans | ' | ' |
Loans receivable | ' | 18,000 |
Retail other | Grade 9 | Illinois/Indiana | ' | ' |
Loans | ' | ' |
Loans receivable | $5,000 | $9,000 |
Loans_Details_3
Loans (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Loans past due, still accruing | ' | ' | ' |
30-59 Days | $1,729,000 | $1,729,000 | $1,847,000 |
60-89 Days | 554,000 | 554,000 | 438,000 |
90+Days | 199,000 | 199,000 | 256,000 |
Non-accrual Loans | 18,489,000 | 18,489,000 | 25,104,000 |
Minimum period past due as criterion for assessing impairment of loans | ' | '60 days | ' |
Minimum amount criterion for assessing impairment of loans | ' | 250,000 | ' |
Loans assessed for impairment if loans are above a particular limit and are of eighth grade | ' | 500,000 | ' |
Gross interest income that would have been recorded if impaired loans had been current | 400,000 | 1,100,000 | ' |
Restructured loan included in the non-performing loan | ' | '90 days | ' |
Restructured loans | ' | ' | ' |
Total loans | 19,883,000 | 19,883,000 | 28,509,000 |
Illinois/Indiana | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
30-59 Days | 1,415,000 | 1,415,000 | 1,483,000 |
60-89 Days | 554,000 | 554,000 | 435,000 |
90+Days | 199,000 | 199,000 | 204,000 |
Non-accrual Loans | 14,252,000 | 14,252,000 | 17,553,000 |
Florida | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
30-59 Days | 314,000 | 314,000 | 364,000 |
60-89 Days | ' | ' | 3,000 |
90+Days | ' | ' | 52,000 |
Non-accrual Loans | 4,237,000 | 4,237,000 | 7,551,000 |
In compliance with modified terms | ' | ' | ' |
Restructured loans | ' | ' | ' |
Total loans | 12,452,000 | 12,452,000 | 22,023,000 |
30-89 days past due | ' | ' | ' |
Restructured loans | ' | ' | ' |
Total loans | ' | ' | 28,000 |
Included in non-performing loans | ' | ' | ' |
Restructured loans | ' | ' | ' |
Total loans | 7,431,000 | 7,431,000 | 6,458,000 |
Commercial | Illinois/Indiana | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
30-59 Days | 337,000 | 337,000 | 111,000 |
60-89 Days | 281,000 | 281,000 | 80,000 |
90+Days | 88,000 | 88,000 | 19,000 |
Non-accrual Loans | 1,504,000 | 1,504,000 | 2,039,000 |
Commercial real estate | Illinois/Indiana | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
30-59 Days | 77,000 | 77,000 | 216,000 |
60-89 Days | ' | ' | 59,000 |
90+Days | 65,000 | 65,000 | 139,000 |
Non-accrual Loans | 6,443,000 | 6,443,000 | 9,295,000 |
Commercial real estate | Florida | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
Non-accrual Loans | 3,150,000 | 3,150,000 | 4,754,000 |
Real estate construction | Illinois/Indiana | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
Non-accrual Loans | 2,510,000 | 2,510,000 | 3,364,000 |
Retail real estate | Illinois/Indiana | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
30-59 Days | 983,000 | 983,000 | 1,154,000 |
60-89 Days | 272,000 | 272,000 | 294,000 |
90+Days | 46,000 | 46,000 | 46,000 |
Non-accrual Loans | 3,795,000 | 3,795,000 | 2,855,000 |
Retail real estate | Florida | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
30-59 Days | 314,000 | 314,000 | 364,000 |
90+Days | ' | ' | 52,000 |
Non-accrual Loans | 1,087,000 | 1,087,000 | 2,797,000 |
Retail other | Illinois/Indiana | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
30-59 Days | 18,000 | 18,000 | 2,000 |
60-89 Days | 1,000 | 1,000 | 2,000 |
Retail other | Florida | ' | ' | ' |
Loans past due, still accruing | ' | ' | ' |
60-89 Days | ' | ' | $3,000 |
Loans_Details_4
Loans (Details 4) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Illinois/Indiana | Illinois/Indiana | Florida | Florida | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Commercial real estate | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Real estate construction | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail real estate | Retail other | |||
item | item | item | item | Illinois/Indiana | Illinois/Indiana | Illinois/Indiana | Illinois/Indiana | Florida | Florida | item | item | item | item | Illinois/Indiana | Illinois/Indiana | Illinois/Indiana | Florida | Florida | Florida | Florida | Illinois/Indiana | Illinois/Indiana | Florida | Florida | In compliance with modified terms | Included in non-performing loans | Included in non-performing loans | Illinois/Indiana | Illinois/Indiana | Florida | Florida | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Illinois/Indiana | Illinois/Indiana | Florida | Florida | In compliance with modified terms | In compliance with modified terms | Included in non-performing loans | Included in non-performing loans | Illinois/Indiana | Illinois/Indiana | Florida | Florida | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | In compliance with modified terms | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Included in non-performing loans | Illinois/Indiana | |||||||
item | item | item | item | item | item | item | item | item | item | item | item | item | Illinois/Indiana | Illinois/Indiana | Illinois/Indiana | item | Illinois/Indiana | Illinois/Indiana | Illinois/Indiana | Illinois/Indiana | Florida | Illinois/Indiana | Florida | Florida | item | Illinois/Indiana | Illinois/Indiana | Illinois/Indiana | item | Illinois/Indiana | Illinois/Indiana | Florida | Illinois/Indiana | Florida | Florida | Florida | Florida | ||||||||||||||||||||||||||||||||||
item | item | item | item | item | item | item | item | item | item | item | item | item | item | item | item | item | item | item | item | item | item | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of contracts | ' | ' | ' | ' | ' | ' | 1 | 2 | 2 | 22 | 1 | 2 | 1 | 20 | 1 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | 1 | 11 | 2 | ' | ' | ' | ' | ' | ' |
Recorded Investment | ' | ' | ' | ' | ' | ' | $218,000 | $2,122,000 | $308,000 | $9,273,000 | $218,000 | $2,122,000 | $218,000 | $8,569,000 | $90,000 | $704,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,455,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $218,000 | $2,069,000 | $218,000 | $2,069,000 | $90,000 | ' | ' | ' | ' | ' | ' | ' | ' | $3,170,000 | ' | ' | ' | ' | ' | ' | ' | $53,000 | $1,875,000 | $704,000 | ' | ' | ' | ' | ' | ' |
Number of contracts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 10 | 8 | 14 | 5 | 6 | 6 | 1 | 5 | 2 | 8 | ' | ' | ' | ' | ' | 5 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 3 | 3 | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 1 | 2 | 2 | 5 | ' |
Recorded Investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114,000 | 2,159,000 | 3,242,000 | 4,530,000 | 519,000 | 3,008,000 | 1,994,000 | 114,000 | 1,640,000 | 234,000 | 2,536,000 | ' | ' | ' | ' | ' | 519,000 | 519,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,650,000 | 1,451,000 | 1,451,000 | ' | ' | ' | ' | ' | ' | 267,000 | 1,475,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,091,000 | 114,000 | 189,000 | 234,000 | 1,085,000 | ' |
Unpaid Contractual Principal Balance | 44,935,000 | 70,963,000 | 26,266,000 | 42,315,000 | 18,669,000 | 28,648,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,188,000 | 11,557,000 | ' | ' | ' | ' | ' | 11,131,000 | 17,656,000 | 7,202,000 | 9,533,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,065,000 | 6,851,000 | 430,000 | 2,597,000 | ' | ' | ' | ' | 5,882,000 | 6,251,000 | 11,037,000 | 16,518,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded Investment with No Allowance | 30,455,000 | 51,552,000 | 16,082,000 | 30,294,000 | 14,373,000 | 21,258,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,585,000 | 7,214,000 | ' | ' | ' | ' | ' | 6,674,000 | 12,020,000 | 4,344,000 | 5,988,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,037,000 | 6,394,000 | 430,000 | 2,597,000 | ' | ' | ' | ' | 3,786,000 | 4,666,000 | 9,599,000 | 12,673,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded Investment with Allowance | 6,950,000 | 4,041,000 | 5,568,000 | 2,083,000 | 1,382,000 | 1,958,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,227,000 | 265,000 | ' | ' | ' | ' | ' | 2,429,000 | 1,288,000 | 1,016,000 | 585,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 618,000 | ' | ' | ' | ' | ' | ' | ' | 1,294,000 | 530,000 | 366,000 | 1,373,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Recorded Investment | 37,405,000 | 55,593,000 | 21,650,000 | 32,377,000 | 15,755,000 | 23,216,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,812,000 | 7,479,000 | ' | ' | ' | ' | ' | 9,103,000 | 13,308,000 | 5,360,000 | 6,573,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,655,000 | 6,394,000 | 430,000 | 2,597,000 | ' | ' | ' | ' | 5,080,000 | 5,196,000 | 9,965,000 | 14,046,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Allowance | 2,987,000 | 1,757,000 | 2,773,000 | 1,039,000 | 214,000 | 718,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 847,000 | 265,000 | ' | ' | ' | ' | ' | 954,000 | 634,000 | 123,000 | 235,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 218,000 | ' | ' | ' | ' | ' | ' | ' | 754,000 | 140,000 | 91,000 | 483,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average Recorded Investment | 48,959,000 | 64,591,000 | 28,238,000 | 38,571,000 | 20,721,000 | 26,020,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,255,000 | 10,109,000 | 38,000 | 271,000 | ' | ' | ' | 10,937,000 | 14,607,000 | 6,877,000 | 6,506,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,815,000 | 8,625,000 | 1,733,000 | 3,989,000 | ' | ' | ' | ' | 5,231,000 | 5,206,000 | 12,073,000 | 15,254,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,000 |
Number of modifications for short-term interest-rate relief | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded investment for short-term interest-rate relief | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of modifications for short-term principal payment relief | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded investment for short-term principal payment relief | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | 1,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of modifications for forbearance agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded investment for forbearance agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum days past due for TDR loans to be classified as non-performing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Details_5
Loans (Details 5) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
item | ||
Loans | ' | ' |
The number of components in the general portion of the Company's allowance | 2 | ' |
Number of quarters whose historical average is used to calculate the historical loss ratio | 20 | ' |
Grade 8 | ' | ' |
Loans | ' | ' |
Number of quarters in more current measure of historical losses in adversely graded loans | 12 | ' |
Number of quarters in less current measure of historical losses in adversely graded loans | 20 | ' |
Minimum additional amount for loans (as a percent) | 1.00% | 1.00% |
Grade 9 | ' | ' |
Loans | ' | ' |
Period of charge-off percentage based on which additional allocation is determined | '1 year | ' |
Minimum additional reserve (as a percent) | 3.00% | 3.00% |
Loans_Details_6
Loans (Details 6) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | $48,012 | ' | ' |
Provision for loan loss | ' | ' | 6,000 | 13,000 | ' |
Ending Balance | 47,964 | ' | 47,964 | ' | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Ending Balance | 47,964 | ' | 47,964 | ' | ' |
Loans: | ' | ' | ' | ' | ' |
Ending Balance | 2,233,105 | ' | 2,233,105 | ' | 2,033,107 |
Illinois/Indiana | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 32,247 | 33,456 | 32,579 | 39,037 | ' |
Provision for loan loss | 1,511 | 2,637 | 3,410 | 11,257 | ' |
Charged-off | -848 | -4,039 | -4,160 | -19,414 | ' |
Recoveries | 374 | 194 | 1,455 | 1,368 | ' |
Ending Balance | 33,284 | 32,248 | 33,284 | 32,248 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 2,773 | ' | 2,773 | ' | 1,039 |
Loans collectively evaluated for impairment | 30,511 | ' | 30,511 | ' | 31,540 |
Ending Balance | 33,284 | 32,248 | 33,284 | 32,248 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 21,650 | ' | 21,650 | ' | 32,377 |
Loans collectively evaluated for impairment | 1,904,246 | ' | 1,904,246 | ' | 1,725,548 |
Ending Balance | 1,925,896 | ' | 1,925,896 | ' | 1,757,925 |
Florida | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 16,244 | 17,410 | 15,433 | 19,469 | ' |
Provision for loan loss | 489 | 863 | 2,590 | 1,743 | ' |
Charged-off | -2,354 | -1,573 | -4,220 | -5,323 | ' |
Recoveries | 301 | 265 | 877 | 1,076 | ' |
Ending Balance | 14,680 | 16,965 | 14,680 | 16,965 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 214 | ' | 214 | ' | 718 |
Loans collectively evaluated for impairment | 14,466 | ' | 14,466 | ' | 14,715 |
Ending Balance | 14,680 | 16,965 | 14,680 | 16,965 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 15,755 | ' | 15,755 | ' | 23,216 |
Loans collectively evaluated for impairment | 291,454 | ' | 291,454 | ' | 251,966 |
Ending Balance | 307,209 | ' | 307,209 | ' | 275,182 |
Commercial | Illinois/Indiana | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 7,514 | 6,131 | 6,597 | 9,143 | ' |
Provision for loan loss | 363 | 1,209 | 1,617 | -281 | ' |
Charged-off | -241 | -1,194 | -663 | -2,880 | ' |
Recoveries | 37 | 15 | 122 | 179 | ' |
Ending Balance | 7,673 | 6,161 | 7,673 | 6,161 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 847 | ' | 847 | ' | 265 |
Loans collectively evaluated for impairment | 6,826 | ' | 6,826 | ' | 6,332 |
Ending Balance | 7,673 | 6,161 | 7,673 | 6,161 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 2,812 | ' | 2,812 | ' | 7,479 |
Loans collectively evaluated for impairment | 535,199 | ' | 535,199 | ' | 415,348 |
Ending Balance | 538,011 | ' | 538,011 | ' | 422,827 |
Commercial | Florida | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 1,505 | 1,871 | 1,437 | 1,939 | ' |
Provision for loan loss | 687 | -125 | 722 | -522 | ' |
Charged-off | ' | -6 | ' | -90 | ' |
Recoveries | 22 | 110 | 55 | 523 | ' |
Ending Balance | 2,214 | 1,850 | 2,214 | 1,850 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans collectively evaluated for impairment | 2,214 | ' | 2,214 | ' | 1,437 |
Ending Balance | 2,214 | 1,850 | 2,214 | 1,850 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans collectively evaluated for impairment | 21,544 | ' | 21,544 | ' | 10,861 |
Ending Balance | 21,544 | ' | 21,544 | ' | 10,861 |
Commercial Real Estate | Illinois/Indiana | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 13,723 | 15,373 | 15,023 | 18,605 | ' |
Provision for loan loss | 316 | 1,403 | -371 | 8,485 | ' |
Charged-off | -44 | -1,716 | -954 | -12,332 | ' |
Recoveries | 145 | 6 | 442 | 308 | ' |
Ending Balance | 14,140 | 15,066 | 14,140 | 15,066 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 954 | ' | 954 | ' | 634 |
Loans collectively evaluated for impairment | 13,186 | ' | 13,186 | ' | 14,389 |
Ending Balance | 14,140 | 15,066 | 14,140 | 15,066 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 9,103 | ' | 9,103 | ' | 13,308 |
Loans collectively evaluated for impairment | 885,672 | ' | 885,672 | ' | 829,654 |
Ending Balance | 894,775 | ' | 894,775 | ' | 842,962 |
Commercial Real Estate | Florida | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 7,656 | 7,426 | 6,062 | 8,413 | ' |
Provision for loan loss | 1,504 | 35 | 3,356 | 428 | ' |
Charged-off | -2,298 | -229 | -2,543 | -1,649 | ' |
Recoveries | 2 | 3 | -11 | 43 | ' |
Ending Balance | 6,864 | 7,235 | 6,864 | 7,235 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 123 | ' | 123 | ' | 235 |
Loans collectively evaluated for impairment | 6,741 | ' | 6,741 | ' | 5,827 |
Ending Balance | 6,864 | 7,235 | 6,864 | 7,235 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 5,360 | ' | 5,360 | ' | 6,573 |
Loans collectively evaluated for impairment | 164,845 | ' | 164,845 | ' | 131,597 |
Ending Balance | 170,205 | ' | 170,205 | ' | 138,170 |
Real Estate Construction | Illinois/Indiana | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 2,514 | 4,304 | 2,527 | 4,352 | ' |
Provision for loan loss | -241 | 324 | 558 | 856 | ' |
Charged-off | ' | -538 | -1,071 | -1,280 | ' |
Recoveries | 21 | ' | 280 | 162 | ' |
Ending Balance | 2,294 | 4,090 | 2,294 | 4,090 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 218 | ' | 218 | ' | ' |
Loans collectively evaluated for impairment | 2,076 | ' | 2,076 | ' | 2,527 |
Ending Balance | 2,294 | 4,090 | 2,294 | 4,090 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 4,655 | ' | 4,655 | ' | 6,394 |
Loans collectively evaluated for impairment | 54,565 | ' | 54,565 | ' | 63,735 |
Ending Balance | 59,220 | ' | 59,220 | ' | 70,129 |
Real Estate Construction | Florida | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 2,693 | 2,348 | 2,315 | 2,936 | ' |
Provision for loan loss | -1,690 | -64 | -1,332 | -644 | ' |
Charged-off | 2 | -176 | -55 | -336 | ' |
Recoveries | 225 | 109 | 302 | 261 | ' |
Ending Balance | 1,230 | 2,217 | 1,230 | 2,217 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans collectively evaluated for impairment | 1,230 | ' | 1,230 | ' | 2,315 |
Ending Balance | 1,230 | 2,217 | 1,230 | 2,217 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 430 | ' | 430 | ' | 2,597 |
Loans collectively evaluated for impairment | 11,398 | ' | 11,398 | ' | 13,375 |
Ending Balance | 11,828 | ' | 11,828 | ' | 15,972 |
Retail Real Estate | Illinois/Indiana | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 8,256 | 7,320 | 8,110 | 6,473 | ' |
Provision for loan loss | 1,024 | -358 | 1,592 | 2,130 | ' |
Charged-off | -446 | -463 | -1,068 | -2,517 | ' |
Recoveries | 112 | 130 | 312 | 543 | ' |
Ending Balance | 8,946 | 6,629 | 8,946 | 6,629 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 754 | ' | 754 | ' | 140 |
Loans collectively evaluated for impairment | 8,192 | ' | 8,192 | ' | 7,970 |
Ending Balance | 8,946 | 6,629 | 8,946 | 6,629 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 5,080 | ' | 5,080 | ' | 5,196 |
Loans collectively evaluated for impairment | 419,517 | ' | 419,517 | ' | 404,867 |
Ending Balance | 424,597 | ' | 424,597 | ' | 410,063 |
Retail Real Estate | Florida | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 4,387 | 5,756 | 5,614 | 6,160 | ' |
Provision for loan loss | -9 | 1,021 | -143 | 2,506 | ' |
Charged-off | -56 | -1,162 | -1,615 | -3,247 | ' |
Recoveries | 47 | 40 | 513 | 236 | ' |
Ending Balance | 4,369 | 5,655 | 4,369 | 5,655 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 91 | ' | 91 | ' | 483 |
Loans collectively evaluated for impairment | 4,278 | ' | 4,278 | ' | 5,131 |
Ending Balance | 4,369 | 5,655 | 4,369 | 5,655 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 9,965 | ' | 9,965 | ' | 14,046 |
Loans collectively evaluated for impairment | 93,153 | ' | 93,153 | ' | 95,724 |
Ending Balance | 103,118 | ' | 103,118 | ' | 109,770 |
Retail Other | Illinois/Indiana | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 240 | 328 | 322 | 464 | ' |
Provision for loan loss | 49 | 59 | 14 | 67 | ' |
Charged-off | -117 | -128 | -404 | -405 | ' |
Recoveries | 59 | 43 | 299 | 176 | ' |
Ending Balance | 231 | 302 | 231 | 302 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans collectively evaluated for impairment | 231 | ' | 231 | ' | 322 |
Ending Balance | 231 | 302 | 231 | 302 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans collectively evaluated for impairment | 9,293 | ' | 9,293 | ' | 11,944 |
Ending Balance | 9,293 | ' | 9,293 | ' | 11,944 |
Retail Other | Florida | ' | ' | ' | ' | ' |
Changes in allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 3 | 9 | 5 | 21 | ' |
Provision for loan loss | -3 | -4 | -13 | -25 | ' |
Charged-off | -2 | ' | -7 | -1 | ' |
Recoveries | 5 | 3 | 18 | 13 | ' |
Ending Balance | 3 | 8 | 3 | 8 | ' |
Amount allocated to: | ' | ' | ' | ' | ' |
Loans collectively evaluated for impairment | 3 | ' | 3 | ' | 5 |
Ending Balance | 3 | 8 | 3 | 8 | ' |
Loans: | ' | ' | ' | ' | ' |
Loans collectively evaluated for impairment | 514 | ' | 514 | ' | 409 |
Ending Balance | $514 | ' | $514 | ' | $409 |
Securities_Sold_Under_Agreemen2
Securities Sold Under Agreements to Repurchase (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Securities Sold Under Agreements to Repurchase | ' | ' |
Maximum maturity period of securities sold under agreements to repurchase | '1 year | ' |
Balance | $156,510 | $139,024 |
Weighted average interest rate at end of period (as a percent) | 0.15% | 0.15% |
Maximum outstanding at any month end | 156,510 | 146,710 |
Average daily balance | $131,093 | $132,150 |
Weighted average interest rate during period (as a percent) | 0.13% | 0.21% |
Earnings_Per_Common_Share_Deta
Earnings Per Common Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income per share calculations for basic and diluted methods | ' | ' | ' | ' |
Net income available to common stockholders (in dollars) | $7,024 | $4,000 | $19,081 | $14,715 |
Shares: | ' | ' | ' | ' |
Weighted average common shares outstanding | 86,801,000 | 86,654,000 | 86,745,000 | 86,634,000 |
Dilutive effect of outstanding options, warrants and restricted stock units as determined by the application of the treasury stock method (in shares) | 275,000 | 8,000 | 299,000 | 9,000 |
Weighted average common shares outstanding, as adjusted for diluted earnings per share calculation | 87,076,000 | 86,662,000 | 87,044,000 | 86,643,000 |
Basic earnings per common share (in dollars per share) | $0.08 | $0.05 | $0.22 | $0.17 |
Diluted earnings per common share (in dollars per share) | $0.08 | $0.05 | $0.22 | $0.17 |
Stock options | ' | ' | ' | ' |
Anti-dilutive securities excluded from the calculation of common stock equivalents | ' | ' | ' | ' |
Number of anti-dilutive securities (in shares) | ' | ' | 648,529 | 804,968 |
Warrants | ' | ' | ' | ' |
Anti-dilutive securities excluded from the calculation of common stock equivalents | ' | ' | ' | ' |
Number of anti-dilutive securities (in shares) | ' | ' | 573,833 | 573,833 |
Restricted stock units | ' | ' | ' | ' |
Anti-dilutive securities excluded from the calculation of common stock equivalents | ' | ' | ' | ' |
Number of anti-dilutive securities (in shares) | ' | ' | 380,252 | 752,209 |
Stockbased_Compensation_Detail
Stock-based Compensation (Details) (USD $) | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 26, 2013 | Mar. 26, 2013 | Mar. 26, 2013 | Mar. 26, 2013 | Mar. 26, 2013 | Mar. 26, 2013 | Aug. 01, 2013 | Aug. 01, 2013 | Aug. 01, 2013 | Aug. 01, 2013 | Aug. 01, 2013 | Aug. 01, 2013 | Sep. 30, 2013 | |
Stock option awards | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | Restricted stock units | DSUs | |||
Members of management | Members of management | Members of management | Members of management | Members of management | Members of management | Members of management and directors | Members of management and directors | Members of management and directors | Members of management and directors | Members of management and directors | Members of management and directors | Directors | ||||||||
Requisite service period of one year | Requisite service period of two years | Requisite service period of three years | Minimum | Maximum | Requisite service period of one year | Requisite service period of two years | Requisite service period of five years | Minimum | Maximum | |||||||||||
Stock-based Compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares authorized for repurchase under stock repurchase plan | 895,655 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares held in treasury | 1,523,002 | 1,616,282 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of year (in shares) | ' | ' | 857,468 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in shares) | ' | ' | 156,439 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of period (in shares) | ' | ' | 701,029 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of period (in shares) | ' | ' | 701,029 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-Average Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at beginning of year (in dollars per share) | ' | ' | $17.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in dollars per share) | ' | ' | $16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of period (in dollars per share) | ' | ' | $17.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of period (in dollars per share) | ' | ' | $17.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-Average Remaining Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of period | ' | ' | '2 years 3 months 25 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of period | ' | ' | '2 years 3 months 25 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at beginning of year (in shares) | 769,403 | ' | ' | ' | ' | 736,412 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,991 |
Granted (in shares) | 380,252 | ' | ' | ' | ' | 351,452 | ' | 13,158 | ' | ' | ' | ' | ' | 367,094 | ' | ' | ' | ' | ' | 28,800 |
Dividend Equivalents Earned (in shares) | 10,849 | ' | ' | ' | ' | 9,903 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 946 |
Vested (in shares) | -136,467 | ' | ' | ' | ' | -102,530 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -33,937 |
Forfeited (in shares) | -20,014 | ' | ' | ' | ' | -20,014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at end of period (in shares) | 1,004,023 | ' | ' | 975,223 | ' | 975,223 | ' | ' | 4,386 | 4,386 | 4,386 | ' | ' | ' | 28,800 | 14,881 | 323,413 | ' | ' | 28,800 |
Outstanding at end of period (in shares) | 1,061,889 | ' | ' | 975,223 | ' | 975,223 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 86,666 |
Weighted-Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at beginning of year (in dollars per share) | $4.92 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Granted (in dollars per share) | $5.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend Equivalents Earned (in dollars per share) | $4.59 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vested (in dollars per share) | $4.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forfeited (in dollars per share) | $5.23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-vested at end of period (in dollars per share) | $4.98 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding at end of period (in dollars per share) | $4.98 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional disclosures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $4.56 | ' | ' | ' | ' | ' | $5.04 | ' | ' | ' | ' | ' | ' |
Amount of compensation cost to be recognized | ' | ' | ' | $3,400,000 | ' | $3,400,000 | ' | $60,000 | ' | ' | ' | ' | ' | $1,850,154 | ' | ' | ' | ' | ' | ' |
Requisite service period | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '2 years | '3 years | ' | ' | ' | '1 year | '2 years | '5 years | ' | ' | ' |
Vesting rights of shares granted (as a percent) | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' |
Period over which cost will be recognized | ' | ' | ' | ' | ' | '3 years 4 months 24 days | ' | ' | ' | ' | ' | '1 year | '3 years | ' | ' | ' | ' | '1 year | '5 years | ' |
Compensation expense recognized | ' | ' | ' | $300,000 | $300,000 | $700,000 | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding_Commitments_and_Co2
Outstanding Commitments and Contingent Liabilities (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | item | Maximum | Commitments to extend credit | Commitments to extend credit | Standby letters of credit | Standby letters of credit | |
Credit Commitments and Contingencies | ' | ' | ' | ' | ' | ' | ' |
Financial instruments whose contract amounts represent credit risk: | ' | ' | ' | $560,234 | $483,373 | $10,035 | $12,305 |
Term for guarantee | ' | ' | '1 year | ' | ' | ' | ' |
Liabilities for potential obligations under guarantees | $0 | $0 | ' | ' | ' | ' | ' |
Number of futures, forwards, swaps or option contracts, or other financial instruments | 0 | ' | ' | ' | ' | ' | ' |
Reportable_Segments_and_Relate2
Reportable Segments and Related Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
item | |||||
Reportable Segments and Related Information | ' | ' | ' | ' | ' |
Number of reportable segments | ' | ' | 3 | ' | ' |
Reportable Segments and Related Information | ' | ' | ' | ' | ' |
Goodwill | $20,686 | ' | $20,686 | ' | $20,686 |
Total Assets | 3,532,024 | ' | 3,532,024 | ' | 3,618,056 |
Interest Income: | 27,236 | 29,011 | 81,811 | 88,332 | ' |
Interest Expense: | 2,003 | 3,466 | 6,750 | 11,815 | ' |
Other Income: | 15,630 | 15,589 | 48,054 | 49,239 | ' |
Net Income: | 7,933 | 4,909 | 21,806 | 17,440 | ' |
Operating segments | Busey Bank | ' | ' | ' | ' | ' |
Reportable Segments and Related Information | ' | ' | ' | ' | ' |
Total Assets | 3,448,907 | ' | 3,448,907 | ' | 3,567,637 |
Interest Income: | 27,167 | 28,935 | 81,597 | 88,093 | ' |
Interest Expense: | 1,709 | 3,138 | 5,858 | 10,828 | ' |
Other Income: | 9,447 | 9,850 | 29,542 | 29,592 | ' |
Net Income: | 6,963 | 4,642 | 19,243 | 14,859 | ' |
Operating segments | FirsTech | ' | ' | ' | ' | ' |
Reportable Segments and Related Information | ' | ' | ' | ' | ' |
Goodwill | 8,992 | ' | 8,992 | ' | 8,992 |
Total Assets | 26,946 | ' | 26,946 | ' | 26,401 |
Interest Income: | 13 | 15 | 39 | 48 | ' |
Other Income: | 2,167 | 2,094 | 6,445 | 6,418 | ' |
Net Income: | 259 | 237 | 807 | 746 | ' |
Operating segments | Busey Wealth Management | ' | ' | ' | ' | ' |
Reportable Segments and Related Information | ' | ' | ' | ' | ' |
Goodwill | 11,694 | ' | 11,694 | ' | 11,694 |
Total Assets | 27,855 | ' | 27,855 | ' | 26,653 |
Interest Income: | 62 | 62 | 179 | 192 | ' |
Other Income: | 4,540 | 4,061 | 13,286 | 12,332 | ' |
Net Income: | 1,173 | 780 | 3,126 | 2,647 | ' |
Operating segments | All Other | ' | ' | ' | ' | ' |
Reportable Segments and Related Information | ' | ' | ' | ' | ' |
Total Assets | 28,316 | ' | 28,316 | ' | -2,635 |
Interest Income: | -6 | -1 | -4 | -1 | ' |
Interest Expense: | 294 | 328 | 892 | 987 | ' |
Other Income: | -524 | -416 | -1,219 | 897 | ' |
Net Income: | ($462) | ($750) | ($1,370) | ($812) | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value Measurements | ' | ' |
Transfers between levels of fair value hierarchy | $0 | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 907,422 | 1,001,497 |
Impaired loans | 37,405 | 55,593 |
OREO | 2,156 | 3,450 |
U.S. Treasury securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 103,338 | 104,656 |
Obligations of U.S. government corporations and agencies | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 288,369 | 370,194 |
Obligations of states and political subdivisions | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 293,287 | 280,288 |
Residential mortgage-backed securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 190,133 | 217,715 |
Corporate debt securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 25,490 | 24,714 |
Mutual funds and other equity securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 6,805 | 3,930 |
Recurring basis | Level 1 Inputs | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 6,805 | 28,644 |
Recurring basis | Level 1 Inputs | Corporate debt securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | ' | 24,714 |
Recurring basis | Level 1 Inputs | Mutual funds and other equity securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 6,805 | 3,930 |
Recurring basis | Level 2 Inputs | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 900,617 | 972,853 |
Recurring basis | Level 2 Inputs | U.S. Treasury securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 103,338 | 104,656 |
Recurring basis | Level 2 Inputs | Obligations of U.S. government corporations and agencies | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 288,369 | 370,194 |
Recurring basis | Level 2 Inputs | Obligations of states and political subdivisions | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 293,287 | 280,288 |
Recurring basis | Level 2 Inputs | Residential mortgage-backed securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 190,133 | 217,715 |
Recurring basis | Level 2 Inputs | Corporate debt securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 25,490 | ' |
Recurring basis | Total Fair Value | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 907,422 | 1,001,497 |
Recurring basis | Total Fair Value | U.S. Treasury securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 103,338 | 104,656 |
Recurring basis | Total Fair Value | Obligations of U.S. government corporations and agencies | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 288,369 | 370,194 |
Recurring basis | Total Fair Value | Obligations of states and political subdivisions | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 293,287 | 280,288 |
Recurring basis | Total Fair Value | Residential mortgage-backed securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 190,133 | 217,715 |
Recurring basis | Total Fair Value | Corporate debt securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 25,490 | 24,714 |
Recurring basis | Total Fair Value | Mutual funds and other equity securities | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Available for sale | 6,805 | 3,930 |
Non-recurring basis | Level 3 Inputs | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Impaired loans | 3,963 | 2,284 |
OREO | 1,192 | 511 |
Non-recurring basis | Total Fair Value | ' | ' |
Financial assets and financial liabilities measured at fair value | ' | ' |
Impaired loans | 3,963 | 2,284 |
OREO | $1,192 | $511 |
Fair_Value_Measurements_Detail1
Fair Value Measurements (Details 2) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Non-recurring basis | Non-recurring basis | Non-recurring basis | Non-recurring basis | Non-recurring basis | Non-recurring basis | Non-recurring basis | Non-recurring basis | Non-recurring basis | Non-recurring basis | ||
Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | Level 3 | |||
Appraisal of collateral | Appraisal of collateral | Appraisal of collateral | Appraisal of collateral | Appraisal of collateral | Appraisal of collateral | Appraisal of collateral | Appraisal of collateral | |||||
Impaired loans | Impaired loans | Impaired loans | Impaired loans | OREO | OREO | OREO | OREO | |||||
Minimum | Maximum | Weighted Average | Minimum | Maximum | Weighted Average | |||||||
Quantitative Information about Level 3 Fair Value Measurements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impaired loans | $37,405 | $55,593 | $3,963 | $2,284 | $3,963 | ' | ' | ' | ' | ' | ' | ' |
OREO | $2,156 | $3,450 | $1,192 | $511 | ' | ' | ' | ' | $1,192 | ' | ' | ' |
Appraisal adjustments (as a percent) | ' | ' | ' | ' | ' | -0.80% | -100.00% | -34.90% | ' | -6.10% | -100.00% | -48.70% |
Fair_Value_Measurements_Detail2
Fair Value Measurements (Details 3) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial assets: | ' | ' |
Cash and due from banks | $198,668 | $351,255 |
Securities held to maturity | 844 | ' |
Loans, net | 2,185,141 | 1,985,095 |
Financial liabilities: | ' | ' |
Junior subordinated debt owed to unconsolidated trusts | 55,000 | 55,000 |
Carrying Amount | Level 2 Inputs | ' | ' |
Financial assets: | ' | ' |
Cash and due from banks | 198,668 | 351,255 |
Securities held to maturity | 838 | ' |
Loans held for sale | 17,500 | 40,003 |
Accrued interest receivable | 12,371 | 12,275 |
Financial liabilities: | ' | ' |
Deposits | 2,879,852 | 2,980,292 |
Securities sold under agreements to repurchase | 156,510 | 139,024 |
Long-term debt | ' | 7,000 |
Junior subordinated debt owed to unconsolidated trusts | 55,000 | 55,000 |
Accrued interest payable | 742 | 1,128 |
Carrying Amount | Level 3 Inputs | ' | ' |
Financial assets: | ' | ' |
Loans, net | 2,185,141 | 1,985,095 |
Fair Value | Level 2 Inputs | ' | ' |
Financial assets: | ' | ' |
Cash and due from banks | 198,668 | 351,255 |
Securities held to maturity | 844 | ' |
Loans held for sale | 17,828 | 40,971 |
Accrued interest receivable | 12,371 | 12,275 |
Financial liabilities: | ' | ' |
Deposits | 2,882,254 | 2,987,524 |
Securities sold under agreements to repurchase | 156,510 | 139,024 |
Long-term debt | ' | 7,120 |
Junior subordinated debt owed to unconsolidated trusts | 55,000 | 55,000 |
Accrued interest payable | 742 | 1,128 |
Fair Value | Level 3 Inputs | ' | ' |
Financial assets: | ' | ' |
Loans, net | $2,189,051 | $2,006,588 |