Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | Apr. 29, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | CVBF | |
Entity Registrant Name | CVB FINANCIAL CORP | |
Entity Central Index Key | 354,647 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 107,806,175 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 108,145 | $ 102,772 |
Interest-earning balances due from Federal Reserve and federal funds sold | 131,441 | 3,325 |
Total cash and cash equivalents | 239,586 | 106,097 |
Interest-earning balances due from depository institutions | 90,718 | 32,691 |
Investment securities available-for-sale, at fair value (with amortized cost of $2,235,684 at March 31, 2016, and $2,337,715 at December 31, 2015) | 2,294,659 | 2,368,646 |
Investment securities held-to-maturity (with fair value of $825,928 at March 31, 2016, and $853,039 at December 31, 2015) | 812,893 | 850,989 |
Investment in stock of Federal Home Loan Bank (FHLB) | 18,501 | 17,588 |
Loans and lease finance receivables | 4,173,409 | 4,016,937 |
Allowance for loan losses | (59,336) | (59,156) |
Net loans and lease finance receivables | 4,114,073 | 3,957,781 |
Premises and equipment, net | 39,922 | 31,382 |
Bank owned life insurance | 131,594 | 130,956 |
Accrued interest receivable | 23,067 | 22,732 |
Intangibles | 5,882 | 2,265 |
Goodwill | 88,174 | 74,244 |
Other real estate owned | 6,545 | 6,993 |
Income taxes | 23,029 | 47,251 |
Other assets | 32,193 | 21,585 |
Total assets | 7,920,836 | 7,671,200 |
Deposits: | ||
Noninterest-bearing | 3,352,128 | 3,250,174 |
Interest-bearing | 2,864,150 | 2,667,086 |
Total deposits | 6,216,278 | 5,917,260 |
Customer repurchase agreements | 626,860 | 690,704 |
FHLB advances | 5,000 | 0 |
Other borrowings | 0 | 46,000 |
Accrued interest payable | 275 | 264 |
Deferred compensation | 11,809 | 11,269 |
Junior subordinated debentures | 25,774 | 25,774 |
Payable for securities purchased | 4,152 | 1,696 |
Other liabilities | 58,826 | 54,834 |
Total liabilities | $ 6,948,974 | $ 6,747,801 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Common stock, authorized, 225,000,000 shares without par; issued and outstanding 107,786,175 at March 31, 2016, and 106,384,982 at December 31, 2015 | $ 524,760 | $ 502,571 |
Retained earnings | 410,376 | 399,919 |
Accumulated other comprehensive income, net of tax | 36,726 | 20,909 |
Total stockholders' equity | 971,862 | 923,399 |
Total liabilities and stockholders' equity | $ 7,920,836 | $ 7,671,200 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Amortized cost | $ 2,235,684 | $ 2,337,715 |
Fair Value, Held-to-maturity | $ 825,928 | $ 853,039 |
Common stock, par value | ||
Common stock, authorized | 225,000,000 | 225,000,000 |
Common stock, shares issued | 107,786,175 | 106,384,982 |
Common stock, shares outstanding | 107,786,175 | 106,384,982 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest income: | ||
Loans and leases, including fees | $ 45,770 | $ 45,542 |
Investment securities: | ||
Investment securities available-for-sale | 12,799 | 17,934 |
Investment securities held-to-maturity | 5,348 | 38 |
Total investment income | 18,147 | 17,972 |
Dividends from FHLB stock | 368 | 469 |
Federal funds sold | 105 | 142 |
Interest-earning deposits with other institutions | 110 | 55 |
Total interest income | 64,500 | 64,180 |
Interest expense: | ||
Deposits | 1,437 | 1,293 |
Borrowings | 423 | 1,773 |
Junior subordinated debentures | 124 | 105 |
Total interest expense | 1,984 | 3,171 |
Net interest income before provision for loan losses | 62,516 | 61,009 |
Provision for loan losses | 0 | 0 |
Net interest income after provision for loan losses | 62,516 | 61,009 |
Noninterest income: | ||
Service charges on deposit accounts | 3,747 | 3,961 |
Trust and investment services | 2,203 | 2,151 |
Bankcard services | 555 | 733 |
BOLI income | 547 | 649 |
Gain on sale of loans | 1,101 | 0 |
Other | 530 | 517 |
Total noninterest income | 8,683 | 8,011 |
Noninterest expense: | ||
Salaries and employee benefits | 21,253 | 19,295 |
Occupancy and equipment | 3,713 | 3,652 |
Professional services | 1,366 | 1,153 |
Software licenses and maintenance | 909 | 1,030 |
Promotion | 1,427 | 1,327 |
Recapture of provision for unfunded loan commitments | 0 | (500) |
Debt termination expense | 0 | 13,870 |
Acquisition related expenses | 849 | 0 |
Other | 4,847 | 4,645 |
Total noninterest expense | 34,364 | 44,472 |
Earnings before income taxes | 36,835 | 24,548 |
Income taxes | 13,444 | 8,715 |
Net earnings | 23,391 | 15,833 |
Other comprehensive income: | ||
Unrealized gain on securities arising during the period, before tax | 27,270 | 20,270 |
Less: Income tax expense related to items of other comprehensive income | (11,453) | (8,514) |
Net change, After-tax | 15,817 | 11,756 |
Comprehensive income | $ 39,208 | $ 27,589 |
Basic earnings per common share | $ 0.22 | $ 0.15 |
Diluted earnings per common share | 0.22 | 0.15 |
Cash dividends declared per common share | $ 0.12 | $ 0.12 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
Beginning balance at Dec. 31, 2014 | $ 878,109 | $ 495,220 | $ 351,814 | $ 31,075 |
Beginning balance, shares at Dec. 31, 2014 | 105,893 | |||
Repurchase of common stock | (497) | $ (497) | ||
Repurchase of common stock, shares | (32) | |||
Exercise of stock options | 3,313 | $ 3,313 | ||
Exercise of stock options, shares | 306 | |||
Tax benefit from exercise of stock options | 614 | $ 614 | ||
Shares issued pursuant to stock-based compensation plan | 732 | $ 732 | ||
Shares issued pursuant to stock-based compensation plan, shares | 80 | |||
Cash dividends declared on common stock | (12,742) | (12,742) | ||
Net earnings | 15,833 | 15,833 | ||
Other comprehensive income (loss) | 11,756 | 11,756 | ||
Ending balance at Mar. 31, 2015 | 897,118 | $ 499,382 | 354,905 | 42,831 |
Ending balance, shares at Mar. 31, 2015 | 106,247 | |||
Beginning balance at Dec. 31, 2015 | 923,399 | $ 502,571 | 399,919 | 20,909 |
Beginning balance, shares at Dec. 31, 2015 | 106,385 | |||
Repurchase of common stock | (392) | $ (392) | ||
Repurchase of common stock, shares | (31) | |||
Issuance of common stock for acquisition of County Commerce Bank | 21,642 | $ 21,642 | ||
Issuance of common stock for acquisition of County Commerce Bank, Shares | 1,394 | |||
Exercise of stock options | 285 | $ 285 | ||
Exercise of stock options, shares | 25 | |||
Tax benefit from exercise of stock options | 0 | |||
Shares issued pursuant to stock-based compensation plan | 654 | $ 654 | ||
Shares issued pursuant to stock-based compensation plan, shares | 13 | |||
Cash dividends declared on common stock | (12,934) | (12,934) | ||
Net earnings | 23,391 | 23,391 | ||
Other comprehensive income (loss) | 15,817 | 15,817 | ||
Ending balance at Mar. 31, 2016 | $ 971,862 | $ 524,760 | $ 410,376 | $ 36,726 |
Ending balance, shares at Mar. 31, 2016 | 107,786 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends per common share | $ 0.12 | $ 0.12 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash Flows from Operating Activities | ||
Interest and dividends received | $ 68,927 | $ 68,591 |
Service charges and other fees received | 8,081 | 6,848 |
Interest paid | (1,980) | (3,981) |
Net cash paid to vendors, employees and others | (43,524) | (43,608) |
Income taxes paid | 0 | 0 |
(Payments to) proceeds from FDIC, loss share agreement | (174) | 265 |
Net cash provided by operating activities | 31,330 | 28,115 |
Cash Flows from Investing Activities | ||
Proceeds from redemption of FHLB stock | 610 | 0 |
Proceeds from maturity of interest-earning balances from depository institutions | 4,309 | 1,245 |
Proceeds from repayment of investment securities available-for-sale | 95,004 | 94,479 |
Proceeds from maturity of investment securities available-for-sale | 16,505 | 34,014 |
Purchases of investment securities available-for-sale | (9,888) | (1,967) |
Proceeds from repayment of investment securities held-to-maturity | 12,236 | 0 |
Proceeds from maturity of investment securities held-to-maturity | 24,796 | 0 |
Net decrease in loan and lease finance receivables | 8,331 | 101,774 |
Proceeds from sale of loans | 6,417 | 0 |
Purchase of premises and equipment | (911) | (157) |
Proceeds from sales of other real estate owned | 200 | 1,418 |
Cash paid for County Commerce Bank (CCB) acquisition, net of cash acquired | (7,504) | 0 |
Net cash provided by investing activities | 150,105 | 230,806 |
Cash Flows from Financing Activities | ||
Net increase in other deposits | 101,042 | 322,642 |
Net decrease in time deposits | (26,271) | (29,524) |
Repayment of FHLB advances | 0 | (200,000) |
Net decrease in other borrowings | (46,000) | (46,000) |
Net decrease in customer repurchase agreements | (63,844) | (3,275) |
Cash dividends on common stock | (12,766) | (10,590) |
Repurchase of common stock | (392) | (497) |
Proceeds from exercise of stock options | 285 | 3,313 |
Tax benefit related to exercise of stock options | 0 | 614 |
Net cash (used in) provided by financing activities | (47,946) | 36,683 |
Net increase in cash and cash equivalents | 133,489 | 295,604 |
Cash and cash equivalents, beginning of period | 106,097 | 105,768 |
Cash and cash equivalents, end of period | 239,586 | 401,372 |
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities | ||
Net earnings | 23,391 | 15,833 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Gain on sale of loans | 1,101 | 0 |
Gain on sale of premises and equipment, net | 0 | (1) |
Gain on sale of other real estate owned | 0 | (112) |
Amortization of capitalized prepayment penalty on borrowings | 0 | 521 |
Increase in bank owned life insurance | (638) | (630) |
Net amortization of premiums and discounts on investment securities | 5,177 | 5,025 |
Accretion of PCI discount | (800) | (980) |
Provision for unfunded loan commitments | 0 | (500) |
Valuation adjustment on other real estate owned | 248 | 33 |
Change in FDIC loss share liability/asset | 53 | 299 |
(Payments to) proceeds from FDIC, loss share agreement | (174) | 265 |
Stock-based compensation | 654 | 732 |
Depreciation and amortization, net | 137 | (271) |
Change in accrued interest receivable | 160 | 322 |
Change in accrued interest payable | 3 | (855) |
Change in other assets and liabilities | 4,220 | 8,434 |
Total adjustments | 7,939 | 12,282 |
Net cash provided by operating activities | 31,330 | 28,115 |
Supplemental Disclosure of Non-cash Investing Activities | ||
Securities purchased and not settled | 4,152 | 2,350 |
Transfer of loans to other real estate owned | 0 | 2,824 |
Issuance of common stock for CCB acquisition | $ 21,642 | $ 0 |
Business
Business | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | 1. BUSINESS The condensed consolidated financial statements include the accounts of CVB Financial Corp. (referred to herein on an unconsolidated basis as “CVB” and on a consolidated basis as “we,” “our” or the “Company”) and its wholly owned subsidiary: Citizens Business Bank (the “Bank” or “CBB”) after elimination of all intercompany transactions and balances. The Company has one inactive subsidiary, Chino Valley Bancorp. The Company is also the common stockholder of CVB Statutory Trust III. CVB Statutory Trust III was created in January 2006 to issue trust preferred securities in order to raise capital for the Company. In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Consolidation The Company’s primary operations are related to traditional banking activities. This includes the acceptance of deposits and the lending and investing of money through the operations of the Bank. The Bank also provides trust and investment-related services to customers through its CitizensTrust Division. The Bank’s customers consist primarily of small to mid-sized businesses and individuals located in San Bernardino County, Riverside County, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara, and the Central Valley area of California. The Bank operates 44 Business Financial Centers, eight Commercial Banking Centers, and three trust offices. The Company is headquartered in the city of Ontario, California. On February 29, 2016, we announced the completion of our acquisition of County Commerce Bank (“CCB”), headquartered in Ventura County with four branch locations in Ventura County with total assets of approximately $253 million. This acquisition extends our geographic footprint northward into the central coast of California. Our condensed consolidated financial statements for the first quarter include 31 days of CCB operations, post-merger. See Note 4 – Business Combinations, included herein. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | 2. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements and notes thereto have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) for Form 10-Q and conform to practices within the banking industry and include all of the information and disclosures required by accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting. The accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting only of normal recurring adjustments), which are necessary for a fair presentation of financial results for the interim periods presented. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results for the full year. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements, accounting policies and financial notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015, filed with the SEC. A summary of the significant accounting policies consistently applied in the preparation of the accompanying unaudited condensed consolidated financial statements follows. Reclassification |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Except as discussed below, our accounting policies are described in Note 3— Summary of Significant Accounting Policies, Use of Estimates in the Preparation of Financial Statements Recent Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02, “Leases (Topic 842)”. ASU 2016-02 establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the impact of adoption of this ASU on its consolidated financial statements. In March 2016, FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. This ASU simplifies several aspects of the accounting for employee share-based payment transactions, including the following: Accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax-withholding purposes. ASU 2016-09 is effective for the fiscal years beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted in any interim or annual period provided that the entire ASU is adopted. The Company is currently evaluating the impact of adoption of this ASU on its consolidated financial statements. |
Business Combinations
Business Combinations | 3 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Business Combinations | 4. BUSINESS COMBINATIONS County Commerce Bank Acquisition On February 29, 2016, the Bank acquired all of the assets and assumed all of the liabilities of CCB for $20.6 million in cash and $21.6 million in stock. As a result, CCB was merged with the Bank, the principal subsidiary of CVB. The Company believes this transaction serves to further expand its footprint northward into and along the central coast of California. At close, CCB had four branches located in the communities of: Ventura, Oxnard, Camarillo, and Westlake Village. The integration of CCB and CBB was completed in April 2016. This included personnel decisions and system conversions. Goodwill of $13.9 million from the acquisition represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired. The total fair value of assets acquired approximated $252.4 million, which included $54.8 million in cash and balances due from depository institutions, $1.5 million in FHLB stock, $168.0 million in loans and lease finance receivables, $8.6 million in fixed assets, $3.9 million in core deposit intangible assets acquired and $1.7 million in other assets. The total fair value of liabilities assumed was $230.8 million, which included $224.2 million in deposits, $5.0 million in FHLB advances and $1.6 million in other liabilities. The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of February 29, 2016. The assets acquired and liabilities assumed have been accounted for under the acquisition method accounting. These fair values are estimates and are subject to adjustment for up to one year after the acquisition date or when additional information relative to the closing date fair values becomes available and such information is considered final, whichever is earlier. We have included the financial results of the business combination in the condensed consolidated statement of earnings and comprehensive income beginning on the acquisition date. For the three months ended March 31, 2016, the Company incurred non-recurring merger related expenses associated with the CCB acquisition of $849,000. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | 5. INVESTMENT SECURITIES The amortized cost and estimated fair value of investment securities are summarized below. The majority of securities held are publicly traded, and the estimated fair values were obtained from an independent pricing service based upon market quotes. March 31, 2016 Amortized Gross Gain Gross Loss Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Government agency/GSEs $ 5,750 $ 10 $ - $ 5,760 0.25% Residential mortgage-backed securities 1,710,383 48,667 - 1,759,050 76.66% CMOs/REMICs - residential 360,790 7,745 - 368,535 16.06% Municipal bonds 153,761 2,523 (59) 156,225 6.81% Other securities 5,000 89 - 5,089 0.22% Total available-for-sale securities $ 2,235,684 $ 59,034 $ (59) $ 2,294,659 100.00% Investment securities held-to-maturity (1): Government agency/GSEs $ 272,934 $ 5,687 $ - $ 278,621 33.58% Residential mortgage-backed securities 225,079 3,085 - 228,164 27.69% CMO 1,226 499 - 1,725 0.15% Municipal bonds 313,654 4,788 (1,024) 317,418 38.58% Total held-to-maturity securities $ 812,893 $ 14,059 $ (1,024) $ 825,928 100.00% December 31, 2015 Amortized Gross Gain Gross Loss Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Government agency/GSEs $ 5,752 $ - $ (7) $ 5,745 0.24% Residential mortgage-backed securities 1,788,857 26,001 (1,761) 1,813,097 76.55% CMOs/REMICs - residential 380,166 4,689 (1,074) 383,781 16.20% Municipal bonds 157,940 3,036 (3) 160,973 6.80% Other securities 5,000 50 - 5,050 0.21% Total available-for-sale securities $ 2,337,715 $ 33,776 $ (2,845) $ 2,368,646 100.00% Investment securities held-to-maturity (1): Government agency/GSEs $ 293,338 $ 1,176 $ (734) $ 293,780 34.47% Residential mortgage-backed securities 232,053 - (1,293) 230,760 27.27% CMO 1,284 569 - 1,853 0.15% Municipal bonds 324,314 3,051 (719) 326,646 38.11% Total held-to-maturity securities $ 850,989 $ 4,796 $ (2,746) $ 853,039 100.00% (1) Securities held-to-maturity are presented in the condensed consolidated balance sheets at amortized cost. During the quarter ended September 30, 2015, investment securities were transferred from the available-for-sale security portfolio to the held-to-maturity security portfolio. Transfers of securities into the held-to-maturity category from the available-for-sale category are transferred at fair value at the date of transfer. The fair value of these securities at the date of transfer was $898.6 million. The unrealized holding gain or loss at the date of transfer is retained in accumulated other comprehensive income (“AOCI”) and in the carrying value of the held-to-maturity securities. The net unrealized holding gain at the date of transfer was $3.9 million after-tax and will continue to be reported in AOCI and amortized over the remaining life of the securities as a yield adjustment. At March 31, 2016, investment securities HTM totaled $812.9 million. The after-tax unrealized gain reported in AOCI on investment securities HTM was $2.5 million at March 31, 2016. The following table provides information about the amount of interest income earned on investment securities which is fully taxable and which is exempt from regular federal income tax. For the Three Months 2016 2015 (Dollars in thousands) Investment securities available-for-sale: Taxable $ 11,380 $ 12,923 Tax-advantaged 1,419 5,011 Investment securities held-to-maturity: Taxable 2,620 38 Tax-advantaged 2,728 - Total interest income from investment securities $ 18,147 $ 17,972 Approximately 85% of the total investment securities portfolio at March 31, 2016 represents securities issued by the U.S government or U.S. government-sponsored enterprises, with the implied guarantee of payment of principal and interest. All non-agency available-for-sale Collateralized Mortgage Obligations (“CMO”)/Real Estate Mortgage Investment Conduit (“REMIC”) issues held are rated investment grade or better by either Standard & Poor’s or Moody’s, as of March 31, 2016 and December 31, 2015. At March 31, 2016, the Bank had $1.4 million in CMOs backed by whole loans issued by private-label companies (nongovernment sponsored). The tables below show the Company’s investment securities’ gross unrealized losses and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2016 and December 31, 2015. Management has reviewed individual securities to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. March 31, 2016 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross (Dollars in thousands) Investment securities available-for-sale: Government agency/GSEs $ - $ - $ - $ - $ - $ - Residential mortgage-backed securities - - - - - - CMOs/REMICs - residential - - - - - - Municipal bonds 3,656 (58) 5,966 (1) 9,622 (59) Other securities - - - - - - Total available-for-sale securities $ 3,656 $ (58) $ 5,966 $ (1) $ 9,622 $ (59) Investment securities held-to-maturity: Government agency/GSEs $ - $ - $ - $ - $ - $ - Residential mortgage-backed securities - - - - - - CMO - - - - - - Municipal bonds 92,467 (1,024) - - 92,467 (1,024) Other securities - - - - - - Total held-to-maturity securities $ 92,467 $ (1,024) $ - $ - $ 92,467 $ (1,024) December 31, 2015 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross (Dollars in thousands) Investment securities available-for-sale: Government agency/GSEs $ 5,745 $ (7) $ - $ - $ 5,745 $ (7) Residential mortgage-backed securities 437,699 (1,761) - - 437,699 (1,761) CMOs/REMICs - residential 171,923 (1,074) - - 171,923 (1,074) Municipal bonds 398 (2) 5,961 (1) 6,359 (3) Other securities - - - - - - Total available-for-sale securities $ 615,765 $ (2,844) $ 5,961 $ (1) $ 621,726 $ (2,845) Investment securities held-to-maturity: Government agency/GSEs $ 84,495 $ (734) $ - $ - $ 84,495 $ (734) Residential mortgage-backed securities 230,760 (1,293) - - 230,760 (1,293) CMO - - - - - - Municipal bonds 110,119 (719) - - 110,119 (719) Other securities - - - - - - Total held-to-maturity securities $ 425,374 $ (2,746) $ - $ - $ 425,374 $ (2,746) The following summarizes our analysis of these securities and the unrealized losses. This assessment was based on the following factors: i) the length of the time and the extent to which the fair value has been less than amortized cost; ii) adverse condition specifically related to the security, an industry, or a geographic area and whether or not the Company expects to recover the entire amortized cost, iii) historical and implied volatility of the fair value of the security; iv) the payment structure of the security and the likelihood of the issuer being able to make payments in the future; v) failure of the issuer of the security to make scheduled interest or principal payments, vi) any changes to the rating of the security by a rating agency, and vii) recoveries or additional declines in fair value subsequent to the balance sheet date. Government Agency & Government-Sponsored Enterprise (“GSE”) — Mortgage-Backed Securities (“MBS”) and CMOs/REMICs— Municipal Bonds On an ongoing basis, we monitor the quality of our municipal bond portfolio in light of the current financial problems exhibited by certain monoline insurance companies. Many of the securities that would not be rated without insurance are pre-refunded and/or are general obligation bonds. We continue to monitor municipalities, which includes a review of the respective municipalities’ audited financial statements to determine whether there are any audit or performance issues. We use outside brokers to assist us in these analyses. At March 31, 2016 and December 31, 2015, investment securities having a carrying value of approximately $2.76 billion and $2.81 billion, respectively, were pledged to secure public deposits, short and long-term borrowings, and for other purposes as required or permitted by law. The amortized cost and fair value of debt securities at March 31, 2016, by contractual maturity, are shown in the table below. Although mortgage-backed securities and CMOs/REMICs have contractual maturities through 2043, expected maturities will differ from contractual maturities because borrowers may have the right to prepay such obligations without penalty. Mortgage-backed securities and CMOs/REMICs are included in maturity categories based upon estimated prepayment speeds. March 31, 2016 Available-for-sale Held-to-maturity Amortized Fair Value Amortized Fair Value (Dollars in thousands) Due in one year or less $ 15,931 $ 16,125 $ - $ - Due after one year through five years 1,789,155 1,837,957 149,171 150,627 Due after five years through ten years 145,732 148,847 366,305 370,388 Due after ten years 284,866 291,730 297,417 304,913 Total investment securities $ 2,235,684 $ 2,294,659 $ 812,893 $ 825,928 The investment in FHLB stock is periodically evaluated for impairment based on, among other things, the capital adequacy of the FHLB and its overall financial condition. No impairment losses have been recorded through March 31, 2016. |
Acquired SJB Assets and FDIC Lo
Acquired SJB Assets and FDIC Loss Sharing Asset | 3 Months Ended |
Mar. 31, 2016 | |
Text Block [Abstract] | |
Acquired SJB Assets and FDIC Loss Sharing Asset | 6. ACQUIRED SJB ASSETS AND FDIC LOSS SHARING ASSET FDIC Assisted Acquisition On October 16, 2009, the Bank acquired San Joaquin Bank (“SJB”) and entered into loss sharing agreements with the Federal Deposit Insurance Corporation (“FDIC”) that is more fully discussed in Note 3— Summary of Significant Accounting Policies At March 31, 2016, the remaining discount associated with the PCI loans approximated $3.1 million. Based on the Company’s regular forecast of expected cash flows from these loans, approximately $1.6 million of the related discount is expected to accrete into interest income over the remaining average lives of the respective pools, which approximates 3 years. The loss sharing agreement for commercial loans expired October 16, 2014. The following table provides a summary of PCI loans and lease finance receivables by type and their credit quality indicators for the periods indicated. March 31, 2016 December 31, 2015 (Dollars in thousands) Commercial and industrial $ 7,147 $ 7,473 SBA 370 393 Real estate: Commercial real estate 74,598 81,786 Construction - - SFR mortgage 190 193 Dairy & livestock and agribusiness 255 1,429 Municipal lease finance receivables - - Consumer and other loans 2,400 2,438 Gross PCI loans 84,960 93,712 Less: Purchase accounting discount (3,110) (3,872) Gross PCI loans, net of discount 81,850 89,840 Less: Allowance for PCI loan losses - - Net PCI loans $ 81,850 $ 89,840 Credit Quality Indicators The following table summarizes PCI loans by internal risk ratings for the periods indicated. March 31, 2016 December 31, 2015 (Dollars in thousands) Pass $ 68,474 $ 76,401 Special mention 10,842 11,142 Substandard 5,644 6,169 Doubtful & loss - - Total PCI gross loans $ 84,960 $ 93,712 Allowance for Loan Losses (“ALLL”) The Company’s Credit Management Division is responsible for regularly reviewing the ALLL methodology for PCI loans. The ALLL for PCI loans is determined separately from total loans, and is based on expectations of future cash flows from the underlying pools of loans or individual loans in accordance with ASC 310-30, as more fully described in Note 3— Summary of Significant Accounting Policies |
Loans and Lease Finance Receiva
Loans and Lease Finance Receivables and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Loans and Lease Finance Receivables and Allowance for Loan Losses | 7. LOANS AND LEASE FINANCE RECEIVABLES AND ALLOWANCE FOR LOAN LOSSES The following table provides a summary of total loans and lease finance receivables, excluding PCI loans, by type. March 31, 2016 December 31, 2015 (Dollars in thousands) Commercial and industrial $ 466,961 $ 434,099 SBA 113,703 106,867 Real estate: Commercial real estate 2,819,119 2,643,184 Construction 89,648 68,563 SFR mortgage 232,965 233,754 Dairy & livestock and agribusiness 227,710 305,509 Municipal lease finance receivables 73,098 74,135 Consumer and other loans 76,103 69,278 Gross loans, excluding PCI loans 4,099,307 3,935,389 Less: Deferred loan fees, net (7,748) (8,292) Gross loans, excluding PCI loans, net of deferred loan fees 4,091,559 3,927,097 Less: Allowance for loan losses (59,336) (59,156) Net loans, excluding PCI loans 4,032,223 3,867,941 PCI Loans 84,960 93,712 Discount on PCI loans (3,110) (3,872) PCI loans, net 81,850 89,840 Total loans and lease finance receivables $ 4,114,073 $ 3,957,781 As of March 31, 2016, 68.77% of the total gross loan portfolio (excluding PCI loans) consisted of commercial real estate loans and 2.19% of the total loan portfolio consisted of construction loans. Substantially all of the Company’s real estate loans and construction loans are secured by real properties located in California. As of March 31, 2016, $178.9 million, or 6.35% of the total commercial real estate loans included loans secured by farmland, compared to $173.0 million, or 6.54%, at December 31, 2015. The loans secured by farmland included $135.1 million for loans secured by dairy & livestock land and $43.8 million for loans secured by agricultural land at March 31, 2016, compared to $128.4 million for loans secured by dairy & livestock land and $44.6 million for loans secured by agricultural land at December 31, 2015. As of March 31, 2016, dairy & livestock and agribusiness loans of $227.7 million were comprised of $210.2 million for dairy & livestock loans and $17.5 million for agribusiness loans, compared to $287.0 million for dairy & livestock loans and $18.5 million for agribusiness loans at December 31, 2015. At March 31, 2016, the Company held approximately $2.03 billion of total fixed rate loans, including PCI loans. At March 31, 2016 and December 31, 2015, loans totaling $3.02 billion and $2.91 billion, respectively, were pledged to secure the borrowings and available lines of credit from the FHLB and the Federal Reserve Bank. Credit Quality Indicators Central to our credit risk management is our loan risk rating system. The originating officer assigns each loan an initial risk rating, which is reviewed and confirmed or changed, as appropriate, by credit management. Approvals are made based upon the amount of inherent credit risk specific to the transaction and are reviewed for appropriateness by senior line and credit management personnel. Credits are monitored by line and credit management personnel for deterioration in a borrower’s financial condition, which would impact the ability of the borrower to perform under the contract. Risk ratings are adjusted as necessary. Loans are risk rated into the following categories (Credit Quality Indicators): Pass, Special Mention, Substandard, Doubtful and Loss. Each of these groups is assessed for the proper amount to be used in determining the adequacy of our allowance for losses. These categories can be described as follows: Pass – These loans, including loans on the Bank’s internal watch list, range from minimal credit risk to lower than average, but still acceptable, credit risk. Watch list loans usually require more than normal management attention. Loans on the watch list may involve borrowers with adverse financial trends, higher debt/equity ratios, or weaker liquidity positions, but not to the degree of being considered a defined weakness or problem loan where risk of loss may be apparent. Special Mention — Loans assigned to this category have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the repayment prospects for the asset or the Company’s credit position at some future date. Special mention assets are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Substandard – Loans classified as substandard are inadequately protected by current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. Substandard loans are characterized by the distinct possibility that the Company will sustain some loss if deficiencies are not corrected. Doubtful – Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or the liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loss — Loans classified as loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future. The following table summarizes each type of loans, excluding PCI loans, according to our internal risk ratings for the periods presented. March 31, 2016 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 428,824 $ 30,887 $ 7,211 $ 39 $ 466,961 SBA 94,609 12,729 6,127 238 113,703 Real estate: Commercial real estate Owner occupied 810,362 80,555 10,831 - 901,748 Non-owner occupied 1,861,506 22,715 33,150 - 1,917,371 Construction Speculative 48,091 - 7,651 - 55,742 Non-speculative 33,906 - - - 33,906 SFR mortgage 226,444 3,535 2,986 - 232,965 Dairy & livestock and agribusiness 173,056 48,009 6,645 - 227,710 Municipal lease finance receivables 68,157 4,941 - - 73,098 Consumer and other loans 71,424 1,839 2,753 87 76,103 Total gross loans, excluding PCI loans $ 3,816,379 $ 205,210 $ 77,354 $ 364 $ 4,099,307 December 31, 2015 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 398,651 $ 33,000 $ 2,403 $ 45 $ 434,099 SBA 87,441 13,169 4,854 1,403 106,867 Real estate: Commercial real estate Owner occupied 772,114 54,758 11,481 - 838,353 Non-owner occupied 1,741,615 26,170 37,046 - 1,804,831 Construction Speculative 38,186 - 7,651 - 45,837 Non-speculative 22,726 - - - 22,726 SFR mortgage 227,207 3,556 2,991 - 233,754 Dairy & livestock and agribusiness 285,647 19,862 - - 305,509 Municipal lease finance receivables 69,194 4,941 - - 74,135 Consumer and other loans 64,844 1,618 2,708 108 69,278 Total gross loans, excluding PCI loans $ 3,707,625 $ 157,074 $ 69,134 $ 1,556 $ 3,935,389 Allowance for Loan Losses The Company’s Credit Management Division is responsible for regularly reviewing the ALLL methodology, including loss factors and economic risk factors. The Bank’s Director Loan Committee provides Board oversight of the ALLL process and approves the ALLL methodology on a quarterly basis. Our methodology for assessing the appropriateness of the allowance is conducted on a regular basis and considers the Bank’s overall loan portfolio. Refer to Note 3 – Summary of Significant Accounting Policies Management believes that the ALLL was appropriate at March 31, 2016 and December 31, 2015. No assurance can be given that economic conditions which adversely affect the Company’s service areas or other circumstances will not be reflected in increased provisions for loan losses in the future. The following tables present the balance and activity related to the allowance for loan losses for held-for-investment loans, excluding PCI loans, by portfolio segment for the periods presented. For the Three Months Ended March 31, 2016 Ending Charge-offs Recoveries Provision for Ending (Dollars in thousands) Commercial and industrial $ 8,588 $ (61) $ 63 $ 141 $ 8,731 SBA 993 - 1 242 1,236 Real estate: Commercial real estate 36,995 - 139 1,152 38,286 Construction 2,389 - 9 (1,247) 1,151 SFR mortgage 2,103 (102) - 201 2,202 Dairy & livestock and agribusiness 6,029 - 99 (952) 5,176 Municipal lease finance receivables 1,153 - - 12 1,165 Consumer and other loans 906 - 32 451 1,389 Unallocated (1) - - - - - Total allowance for loan losses $ 59,156 $ (163) $ 343 $ - $ 59,336 For the Three Months Ended March 31, 2015 Ending Charge-offs Recoveries Provision for Ending (Dollars in thousands) Commercial and industrial $ 7,074 $ (134) $ 35 $ 527 $ 7,502 SBA 2,557 (33) 34 (362) 2,196 Real estate: Commercial real estate 33,373 - 857 618 34,848 Construction 988 - 9 46 1,043 SFR mortgage 2,344 - 185 (104) 2,425 Dairy & livestock and agribusiness 5,479 - 99 (1,832) 3,746 Municipal lease finance receivables 1,412 - - (382) 1,030 Consumer and other loans 1,262 (177) 9 (269) 825 Unallocated (1) 5,336 - - 1,758 7,094 Total allowance for loan losses $ 59,825 $ (344) $ 1,228 $ - $ 60,709 (1) Based upon changes to our ALLL methodology, as described in Note 3 — Summary of Significant Accounting Policies The following tables present the recorded investment in loans held-for-investment, excluding PCI loans, and the related allowance for loan losses by portfolio segment, based on the Company’s methodology for determining the allowance for loan losses for the periods presented. March 31, 2016 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Individually Collectively (Dollars in thousands) Commercial and industrial $ 1,477 $ 465,484 $ 575 $ 8,156 SBA 3,304 110,399 55 1,181 Real estate: Commercial real estate 35,577 2,783,542 - 38,286 Construction 7,651 81,997 48 1,103 SFR mortgage 5,874 227,091 16 2,186 Dairy & livestock and agribusiness 714 226,996 - 5,176 Municipal lease finance receivables - 73,098 - 1,165 Consumer and other loans 868 75,235 - 1,389 Unallocated (1) - - - - Total $ 55,465 $ 4,043,842 $ 694 $ 58,642 March 31, 2015 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Individually Collectively (Dollars in thousands) Commercial and industrial $ 1,611 $ 401,989 $ 592 $ 6,910 SBA 3,158 123,227 42 2,154 Real estate: Commercial real estate 41,886 2,457,297 154 34,694 Construction 7,651 47,695 - 1,043 SFR mortgage 5,913 199,219 - 2,425 Dairy & livestock and agribusiness 7,277 166,164 - 3,746 Municipal lease finance receivables - 76,220 - 1,030 Consumer and other loans 881 69,868 6 819 Unallocated (1) - - - 7,094 Total $ 68,377 $ 3,541,679 $ 794 $ 59,915 (1) Based upon changes to our ALLL methodology, as described in Note 3 — Summary of Significant Accounting Policies Past Due and Nonperforming Loans We seek to manage asset quality and control credit risk through diversification of the loan portfolio and the application of policies designed to promote sound underwriting and loan monitoring practices. The Bank’s Credit Management Division is in charge of monitoring asset quality, establishing credit policies and procedures and enforcing the consistent application of these policies and procedures across the Bank. Reviews of nonperforming, past due loans and larger credits, designed to identify potential charges to the allowance for loan losses, and to determine the adequacy of the allowance, are conducted on an ongoing basis. These reviews consider such factors as the financial strength of borrowers and any guarantors, the value of the applicable collateral, loan loss experience, estimated loan losses, growth in the loan portfolio, prevailing economic conditions and other factors. Refer to Note 3 – Summary of Significant Accounting Policies, A loan is reported as a Troubled Debt Restructured (“TDR”) when the Bank grants a concession(s) to a borrower experiencing financial difficulties that the Bank would not otherwise consider. Examples of such concessions include a reduction in the interest rate, deferral of principal or accrued interest, extending the payment due dates or loan maturity date(s), or providing a lower interest rate than would be normally available for new debt of similar risk. As a result of these concessions, restructured loans are classified as impaired. Impairment reserves on non-collateral dependent restructured loans are measured by comparing the present value of expected future cash flows on the restructured loans discounted at the interest rate of the original loan agreement to the loan’s carrying value. These impairment reserves are recognized as a specific component to be provided for in the allowance for loan losses. Generally, when loans are identified as impaired they are moved to our Special Assets Department. When we identify a loan as impaired, we measure the loan for potential impairment using discounted cash flows, unless the loan is determined to be collateral dependent. In these cases, we use the current fair value of collateral, less selling costs. Generally, the determination of fair value is established through obtaining external appraisals of the collateral. The following tables present the recorded investment in, and the aging of, past due and nonaccrual loans, excluding PCI loans, by type of loans for the periods presented. March 31, 2016 30-59 Days 60-89 Days Total Past Nonaccrual (1) Current Total Loans (Dollars in thousands) Commercial and industrial $ 111 $ - $ 111 $ 622 $ 466,228 466,961 SBA - - - 2,435 111,268 113,703 Real estate: Commercial real estate Owner occupied - - - 2,086 899,662 901,748 Non-owner occupied - - - 9,996 1,907,375 1,917,371 Construction Speculative (2) - - - - 55,742 55,742 Non-speculative - - - - 33,906 33,906 SFR mortgage 625 - 625 2,549 229,791 232,965 Dairy & livestock and agribusiness - - - - 227,710 227,710 Municipal lease finance receivables - - - - 73,098 73,098 Consumer and other loans 47 117 164 456 75,483 76,103 Total gross loans, excluding PCI Loans $ 783 $ 117 $ 900 $ 18,144 $ 4,080,263 $ 4,099,307 (1) As of March 31, 2016, $16.1 million of nonaccruing loans were current, $20,000 were 30-59 days past due, $836,000 were 60-89 days past due and $1.2 million were 90+ days past due. (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. December 31, 2015 30-59 Days 60-89 Days Total Past Nonaccrual (1) Current Total Loans (Dollars in thousands) Commercial and industrial $ - $ - $ - $ 704 $ 433,395 $ 434,099 SBA - - - 2,567 104,300 106,867 Real estate: Commercial real estate Owner occupied - - - 4,174 834,179 838,353 Non-owner occupied 354 - 354 10,367 1,794,110 1,804,831 Construction Speculative (2) - - - - 45,837 45,837 Non-speculative - - - - 22,726 22,726 SFR mortgage 1,082 - 1,082 2,688 229,984 233,754 Dairy & livestock and agribusiness - - - - 305,509 305,509 Municipal lease finance receivables - - - - 74,135 74,135 Consumer and other loans - - - 519 68,759 69,278 Total gross loans, excluding PCI Loans $ 1,436 $ - $ 1,436 $ 21,019 $ 3,912,934 $ 3,935,389 (1) As of December 31, 2015, $7.9 million of nonaccruing loans were current, $456,000 were 30-59 days past due, $9.1 million were 60-89 days past due and $3.5 million were 90+ days past due. (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. Impaired Loans At March 31, 2016, the Company had impaired loans, excluding PCI loans, of $55.5 million. Of this amount, there was $12.1 million of nonaccrual commercial real estate loans, $2.5 million of nonaccrual single-family residential (“SFR”) mortgage loans, $2.4 million of nonaccrual SBA loans, $622,000 of nonaccrual commercial and industrial loans, and $456,000 of nonaccrual consumer and other loans. These impaired loans included $49.7 million of loans whose terms were modified in a troubled debt restructuring, of which $12.4 million were classified as nonaccrual. The remaining balance of $37.3 million consisted of 35 loans performing according to the restructured terms. The impaired loans had a specific allowance of $694,000 at March 31, 2016. At December 31, 2015, the Company had classified as impaired, loans, excluding PCI loans, with a balance of $63.7 million with a related allowance of $669,000. The following tables present information for held-for-investment loans, excluding PCI loans, individually evaluated for impairment by type of loans, as and for the periods presented. As of and For the Three Months Ended March 31, 2016 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 805 $ 1,677 $ - $ 831 $ 7 SBA 3,050 3,765 - 3,089 13 Real estate: Commercial real estate Owner occupied 5,315 6,507 - 5,095 51 Non-owner occupied 30,262 33,368 - 30,400 343 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 5,499 6,406 - 5,512 27 Dairy & livestock and agribusiness 714 714 - 710 8 Municipal lease finance receivables - - - - - Consumer and other loans 868 1,420 - 888 4 Total 46,513 53,857 - 46,525 453 With a related allowance recorded: Commercial and industrial 672 741 575 687 3 SBA 254 274 55 254 2 Real estate: Commercial real estate Owner occupied - - - - - Non-owner occupied - - - - - Construction Speculative 7,651 7,651 48 7,651 97 Non-speculative - - - - - SFR mortgage 375 426 16 515 2 Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans - - - - - Total 8,952 9,092 694 9,107 104 Total impaired loans $ 55,465 $ 62,949 $ 694 $ 55,632 $ 557 As of and For the Three Months Ended March 31, 2015 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 1,004 $ 1,819 $ - $ 1,017 $ 8 SBA 3,117 3,667 - 3,177 13 Real estate: Commercial real estate Owner occupied 6,117 7,167 - 6,185 64 Non-owner occupied 34,808 42,718 - 35,194 350 Construction Speculative 7,651 7,651 - 7,651 96 Non-speculative - - - - - SFR mortgage 5,913 6,642 - 5,940 27 Dairy & livestock and agribusiness 7,277 8,991 - 7,533 85 Municipal lease finance receivables - - - - - Consumer and other loans 783 1,289 - 836 4 Total 66,670 79,944 - 67,533 647 With a related allowance recorded: Commercial and industrial 607 680 592 617 - SBA 41 54 42 45 - Real estate: Commercial real estate Owner occupied - - - - - Non-owner occupied 961 1,278 154 973 - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 98 107 6 99 - Total 1,707 2,119 794 1,734 - Total impaired loans $ 68,377 $ 82,063 $ 794 $ 69,267 $ 647 As of December 31, 2015 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 1,017 $ 1,894 $ - SBA 3,207 3,877 - Real estate: Commercial real estate Owner occupied 6,252 7,445 - Non-owner occupied 34,041 37,177 - Construction Speculative - - - Non-speculative - - - SFR mortgage 5,665 6,453 - Dairy & livestock and agribusiness 3,685 3,684 - Municipal lease finance receivables - - - Consumer and other loans 890 1,454 - Total 54,757 61,984 - With a related allowance recorded: Commercial and industrial 626 695 626 SBA 41 47 10 Real estate: Commercial real estate Owner occupied - - - Non-owner occupied - - - Construction Speculative 7,651 7,651 13 Non-speculative - - - SFR mortgage 588 640 20 Dairy & livestock and agribusiness - - - Municipal lease finance receivables - - - Consumer and other loans 43 45 - Total 8,949 9,078 669 Total impaired loans $ 63,706 $ 71,062 $ 669 The Company recognizes the charge-off of the impairment allowance on impaired loans in the period in which a loss is identified for collateral dependent loans. Therefore, the majority of the nonaccrual loans as of March 31, 2016 and December 31, 2015 have already been written down to the estimated net realizable value. The impaired loans with a related allowance recorded are on nonaccrual loans where a charge-off is not yet processed, on nonaccrual SFR loans where there is a potential modification in process, or on smaller balance non-collateral dependent loans. Reserve for Unfunded Loan Commitments The allowance for off-balance sheet credit exposure relates to commitments to extend credit, letters of credit and undisbursed funds on lines of credit. The Company evaluates credit risk associated with the off-balance sheet loan commitments at the same time it evaluates credit risk associated with the loan and lease portfolio. There was no provision or recapture of provision for unfunded loan commitments for the three months ended March 31, 2016, compared with a recapture of provision for unfunded loan commitments of $500,000 for the same period of 2015. As of March 31, 2016 and December 31, 2015, the balance in this reserve was $7.2 million and was included in other liabilities. Troubled Debt Restructurings (“TDRs”) Loans that are reported as TDRs are considered impaired and charge-off amounts are taken on an individual loan basis, as deemed appropriate. The majority of restructured loans are loans for which the terms of repayment have been renegotiated, resulting in a reduction in interest rate or deferral of principal. Refer to Note 3 – Summary of Significant Accounting Policies As of March 31, 2016, there were $49.7 million of loans classified as a TDR, of which $12.4 million were nonperforming and $37.3 million were performing. TDRs on accrual status are comprised of loans that were accruing interest at the time of restructuring or have demonstrated repayment performance in compliance with the restructured terms for a sustained period and for which the Company anticipates full repayment of both principal and interest. At March 31, 2016, performing TDRs were comprised of 14 commercial real estate loans of $23.5 million, one construction loan of $7.7 million, one dairy & livestock and agribusiness loan of $714,000, 11 SFR mortgage loans of $3.3 million, five commercial and industrial loans of $855,000, one consumer loan of $412,000 and two SBA loans of $869,000. There were no loans removed from TDR classification during the three months ended March 31, 2016 and 2015. The majority of TDRs have no specific allowance allocated as any impairment amount is normally charged off at the time a probable loss is determined. We have allocated $642,000 and $607,000 of specific allowance to TDRs as of March 31, 2016 and December 31, 2015, respectively. The following table provides a summary of the activity related to TDRs for the periods presented. For the Three Months Ended 2016 2015 (Dollars in thousands) Performing TDRs: Beginning balance $ 42,687 $ 53,589 New modifications 1,006 - Payoffs and payments, net (6,372) (8,729) TDRs returned to accrual status - 516 TDRs placed on nonaccrual status - - Ending balance $ 37,321 $ 45,376 Nonperforming TDRs: Beginning balance $ 12,622 $ 20,285 New modifications 82 - Charge-offs (38) - Payoffs and payments, net (306) (2,995) TDRs returned to accrual status - (516) TDRs placed on nonaccrual status - - Ending balance $ 12,360 $ 16,774 Total TDRs $ 49,681 $ 62,150 The following tables summarize loans modified as troubled debt restructurings for the periods presented. Modifications (1) For the Three Months Ended March 31, 2016 Number of Pre-Modification Investment Post-Modification Investment Outstanding Financial Effect (Dollars in thousands) SBA: Interest rate reduction - - - - - Change in amortization period or maturity 1 194 194 193 28 Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity 2 812 812 778 - Non-owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 2 82 82 75 - Total loans 5 $ 1,088 $ 1,088 $ 1,046 $ 28 For the Three Months Ended March 31, 2015 Number of Pre-Modification Recorded Investment Post-Modification Recorded Investment Outstanding Recorded Investment at Financial Effect Resulting From (Dollars in thousands) SBA: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Total loans - $ - $ - $ - $ - (1) The tables above exclude modified loans that were paid off prior to the end of the period. (2) Financial effects resulting from modifications represent charge-offs and specific allowance recorded at modification date. As of March 31, 2016, there were no loans that were previously modified as a TDR within the previous 12 months that subsequently defaulted during the three months ended March 31, 2016. |
Earnings Per Share Reconciliati
Earnings Per Share Reconciliation | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Reconciliation | 8. EARNINGS PER SHARE RECONCILIATION Basic earnings per common share are computed by dividing income allocated to common stockholders by the weighted-average number of common shares outstanding during each period. The computation of diluted earnings per common share considers the number of tax-effected shares issuable upon the assumed exercise of outstanding common stock options. Antidilutive common shares are not included in the calculation of diluted earnings per common share. For the three months ended March 31, 2016 and 2015, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 262,000 and 235,000, respectively. The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations. For the Three Months 2016 2015 (In thousands, except per share amounts) Earnings per common share: Net earnings $ 23,391 $ 15,833 Less: Net earnings allocated to restricted stock 104 81 Net earnings allocated to common shareholders $ 23,287 $ 15,752 Weighted average shares outstanding 106,392 105,523 Basic earnings per common share $ 0.22 $ 0.15 Diluted earnings per common share: Net income allocated to common shareholders $ 23,287 $ 15,752 Weighted average shares outstanding 106,392 105,523 Incremental shares from assumed exercise of outstanding options 392 436 Diluted weighted average shares outstanding 106,784 105,959 Diluted earnings per common share $ 0.22 $ 0.15 |
Fair Value Information
Fair Value Information | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Information | 9. FAIR VALUE INFORMATION Fair Value Hierarchy Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The following disclosure provides the fair value information for financial assets and liabilities as of March 31, 2016. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels (Level 1, Level 2 and Level 3). • Level 1 • Level 2 • Level 3 Observable and unobservable inputs are the key elements that separate the levels in the fair value hierarchy. Inputs here refer explicitly to the types of information used to obtain the fair value of the asset or liability. Observable inputs include data sources and market prices available and visible outside of the entity. While there will continue to be judgments required when an active market price is not available, these inputs are external to the entity and observable outside the entity; they are consequently considered more objective than internal unobservable inputs used for Level 3 fair value. Unobservable inputs are data and analyses that are developed within the entity to assess the fair value, such as management estimates of future benefits from use of assets. There were no transfers in and out of Level 1 and Level 2 during the three months ended March 31, 2016 and 2015. Determination of Fair Value The following is a description of valuation methodologies used for assets and liabilities recorded at fair value and for estimating fair value for financial instruments not recorded at fair value. Cash and Cash Equivalents Interest-Bearing Balances Due from Depository Institutions FHLB Stock Investment Securities Available-for-Sale Investment Securities Held–to-Maturity Loans — The fair value of loans, other than loans on nonaccrual status, was estimated by discounting the remaining contractual cash flows using the estimated current rate at which similar loans would be made to borrowers with similar credit risk characteristics and for the same remaining maturities, reduced by deferred net loan origination fees and the allocable portion of the allowance for loan losses. Accordingly, in determining the estimated current rate for discounting purposes, no adjustment has been made for any change in borrowers’ specific credit risks since the origination or purchase of such loans. Rather, the allocable portion of the allowance for loan losses and the purchase price discounts are considered to provide for such changes in estimating fair value. As a result, this fair is not necessarily the value which would be derived using an exit price. These loans are included within Level 3 of the fair value hierarchy. Impaired loans and OREO are generally measured using the fair value of the underlying collateral, which is determined based on the most recent appraisal information received, less costs to sell. Appraised values may be adjusted based on factors such as the changes in market conditions from the time of valuation or discounted cash flows of the property. As such, these loans and OREO fall within Level 3 of the fair value hierarchy. The majority of our commitments to extend credit carry current market interest rates if converted to loans. Because these commitments are generally unassignable by either the borrower or us, they only have value to the borrower and us. The estimated fair value approximates the recorded deferred fee amounts and is excluded from the following table because it is not material. Swaps — Deposits & Borrowings — Assets and Liabilities Measured at Fair Value on a Recurring Basis The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented. Carrying Value at Quoted Prices in Active Markets for Identical Assets Significant Other (Level 2) Significant (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Government agency/GSEs $ 5,760 $ - $ 5,760 $ - Residential mortgage-backed securities 1,759,050 - 1,759,050 - CMOs/REMICs - residential 368,535 - 368,535 - Municipal bonds 156,225 - 156,225 - Other securities 5,089 - 5,089 - Total investment securities - AFS 2,294,659 - 2,294,659 - Interest rate swaps 13,132 - 13,132 - Total assets $ 2,307,791 $ - $ 2,307,791 $ - Description of liability Interest rate swaps $ 13,132 $ - $ 13,132 $ - Total liabilities $ 13,132 $ - $ 13,132 $ - Carrying Value at Quoted Prices in (Level 1) Significant Other Significant (Dollars in thousands) Description of assets Investment securities - AFS: Government agency/GSEs $ 5,745 $ - $ 5,745 $ - Residential mortgage-backed securities 1,813,097 - 1,813,097 - CMOs/REMICs - residential 383,781 - 383,781 - Municipal bonds 160,973 - 160,973 - Other securities 5,050 - 5,050 - Total investment securities - AFS 2,368,646 - 2,368,646 - Interest rate swaps 9,344 - 9,344 - Total assets $ 2,377,990 $ - $ 2,377,990 $ - Description of liability Interest rate swaps $ 9,344 $ - $ 9,344 $ - Total liabilities $ 9,344 $ - $ 9,344 $ - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis We may be required to measure certain assets at fair value on a non-recurring basis in accordance with GAAP. These adjustments to fair value usually result from application of lower of cost or fair value accounting or write-downs of individual assets. For assets measured at fair value on a non-recurring basis that were held on the balance sheet at March 31, 2016 and December 31, 2015, respectively, the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets that had losses during the period. Carrying Value at Quoted Prices in Significant Other (Level 2) Significant Total Losses (Dollars in thousands) Description of assets Impaired loans, excluding PCI Loans: Commercial and industrial $ 110 $ - $ - $ 110 $ 13 SBA 213 - - 213 48 Real estate: Commercial real estate - - - - - Construction 7,651 - - 7,651 35 SFR mortgage 504 - - 504 102 Dairy & livestock and agribusiness - - - - - Consumer and other loans - - - - - Other real estate owned 1,611 - - 1,611 248 Total assets $ 10,089 $ - $ - $ 10,089 $ 446 Carrying Value at Quoted Prices in Significant Other Significant Total Losses (Dollars in thousands) Description of assets Impaired loans, excluding PCI Loans: Commercial and industrial $ 228 $ - $ - $ 228 $ 228 SBA 41 - - 41 15 Real estate: Commercial real estate - - - - - Construction 7,651 - - 7,651 13 SFR mortgage 588 - - 588 20 Dairy & livestock and agribusiness - - - - - Consumer and other loans 258 - - 258 101 Other real estate owned 948 - - 948 162 Total assets $ 9,714 $ - $ - $ 9,714 $ 539 Fair Value of Financial Instruments The following disclosure presents estimated fair value of our financial instruments. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to develop the estimates of fair value. Accordingly, the estimates presented below are not necessarily indicative of the amounts the Company may realize in a current market exchange as of March 31, 2016 and December 31, 2015, respectively. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. March 31, 2016 Estimated Fair Value Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and cash equivalents $ 239,586 $ 239,586 $ - $ - $ 239,586 Interest-earning balances due from depository institutions 90,718 - 90,718 - 90,718 FHLB stock 18,501 - 18,501 - 18,501 Investment securities available-for-sale 2,294,659 - 2,294,659 - 2,294,659 Investment securities held-to-maturity 812,893 - 824,203 1,725 825,928 Total loans, net of allowance for loan losses 4,114,073 - - 4,166,203 4,166,203 Swaps 13,132 - 13,132 - 13,132 Liabilities Deposits: Noninterest-bearing $ 3,352,128 3,352,128 - - $ 3,352,128 Interest-bearing 2,864,150 - 2,863,784 - 2,863,784 Borrowings 631,860 - 631,749 - 631,749 Junior subordinated debentures 25,774 - 27,284 - 27,284 Swaps 13,132 - 13,132 - 13,132 December 31, 2015 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and cash equivalents $ 106,097 $ 106,097 $ - $ - $ 106,097 Interest-earning balances due from depository institutions 32,691 - 32,691 - 32,691 FHLB stock 17,588 - 17,588 - 17,588 Investment securities available-for-sale 2,368,646 - 2,368,646 - 2,368,646 Investment securities held-to-maturity 850,989 - 851,186 1,853 853,039 Total loans, net of allowance for loan losses 3,957,781 - - 3,971,329 3,971,329 Swaps 9,344 - 9,344 - 9,344 Liabilities Deposits: Noninterest-bearing $ 3,250,174 3,250,174 - - $ 3,250,174 Interest-bearing 2,667,086 - 2,666,186 - 2,666,186 Borrowings 736,704 - 736,575 - 736,575 Junior subordinated debentures 25,774 - 27,210 - 27,210 Swaps 9,344 - 9,344 - 9,344 The fair value estimates presented herein are based on pertinent information available to management as of March 31, 2016 and December 31, 2015. Although management is not aware of any factors that would significantly affect the estimated fair value amounts, such amounts have not been comprehensively revalued for purposes of these financial statements since that date, and therefore, current estimates of fair value may differ significantly from the amounts presented above. |
Business Segments
Business Segments | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Business Segments | 10. BUSINESS SEGMENTS The Company has identified two principal reportable segments: Business Financial and Commercial Banking Centers (“Centers”) and the Treasury Department. The Bank has 44 Business Financial Centers and eight Commercial Banking Centers organized in geographic regions, which are the focal points for customer sales and services. The Company utilizes an internal reporting system to measure the performance of various operating segments within the Bank which is the basis for determining the Bank’s reportable segments. The chief operating decision maker (currently our CEO) regularly reviews the financial information of these segments in deciding how to allocate resources and to assess performance. Centers are considered one operating segment as their products and services are similar and are sold to similar types of customers, have similar production and distribution processes, have similar economic characteristics, and have similar reporting and organizational structures. The Treasury Department’s primary focus is managing the Bank’s investments, liquidity and interest rate risk. Information related to the Company’s remaining operating segments, which include construction lending, dairy & livestock and agribusiness lending, leasing, CitizensTrust, and centralized functions have been aggregated and included in “Other.” In addition, the Company allocates internal funds transfer pricing to the segments using a methodology that charges users of funds interest expense and credits providers of funds interest income with the net effect of this allocation being recorded in administration. The following tables represent the selected financial information for these two business segments. GAAP does not have an authoritative body of knowledge regarding the management accounting used in presenting segment financial information. The accounting policies for each of the business units is the same as those policies identified for the consolidated Company and disclosed in Note 3 — Summary of Significant Accounting Policies The following tables present the operating results and other key financial measures for the individual operating segments for the periods presented. For the Three Months Ended March 31, 2016 Centers Treasury Other Eliminations Total (Dollars in thousands) Interest income, including loan fees $ 36,504 $ 18,757 $ 9,239 $ - $ 64,500 Credit for funds provided (1) 8,697 - 13,681 (22,378) - Total interest income 45,201 18,757 22,920 (22,378) 64,500 Interest expense 1,680 184 120 - 1,984 Charge for funds used (1) 1,287 15,349 5,742 (22,378) - Total interest expense 2,967 15,533 5,862 (22,378) 1,984 Net interest income 42,234 3,224 17,058 - 62,516 Provision for loan losses - - - - - Net interest income after provision for loan losses 42,234 3,224 17,058 - 62,516 Noninterest income 4,827 - 3,856 - 8,683 Noninterest expense 12,610 216 21,538 - 34,364 Debt termination expense - - - - - Segment pre-tax profit (loss) $ 34,451 $ 3,008 $ (624) $ - $ 36,835 Segment assets as of March 31, 2016 $ 6,602,994 $ 3,417,737 $ 976,032 $ (3,075,927) $ 7,920,836 (1) Credit for funds provided and charges for funds used are eliminated in the condensed consolidated presentation. For the Three Months Ended March 31, 2015 Centers Treasury Other Eliminations Total (Dollars in thousands) Interest income, including loan fees $ 35,368 $ 18,655 $ 10,157 $ - $ 64,180 Credit for funds provided (1) 8,211 - 12,641 (20,852) - Total interest income 43,579 18,655 22,798 (20,852) 64,180 Interest expense 1,663 1,431 77 - 3,171 Charge for funds used (1) 1,067 14,806 4,979 (20,852) - Total interest expense 2,730 16,237 5,056 (20,852) 3,171 Net interest income 40,849 2,418 17,742 - 61,009 Provision for loan losses - - - - - Net interest income after provision for loan losses 40,849 2,418 17,742 - 61,009 Noninterest income 5,067 - 2,944 - 8,011 Noninterest expense 11,849 213 18,540 - 30,602 Debt termination expense - 13,870 - - 13,870 Segment pre-tax profit (loss) $ 34,067 $ (11,665) $ 2,146 $ - $ 24,548 Segment assets as of March 31, 2015 $ 6,216,028 $ 3,450,529 $ 898,554 $ (3,122,160) $ 7,442,951 (1) Credit for funds provided and charges for funds used are eliminated in the condensed consolidated presentation. |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 11. DERIVATIVE FINANCIAL INSTRUMENTS The Bank is exposed to certain risks relating to its ongoing business operations and utilizes interest rate swap agreements (“swaps”) as part of its asset/liability management strategy to help manage its interest rate risk position. As of March 31, 2016, the Bank has entered into 77 interest-rate swap agreements with customers. The Bank then entered into identical offsetting swaps with a counterparty bank. The swap agreements are not designated as hedging instruments. The purpose of entering into offsetting derivatives not designated as a hedging instrument is to provide the Bank a variable-rate loan receivable and to provide the customer the financial effects of a fixed-rate loan without creating significant volatility in the Bank’s earnings. The structure of the swaps is as follows. The Bank enters into a swap with its customers to allow them to convert variable rate loans to fixed rate loans, and at the same time, the Bank enters into a swap with the counterparty bank to allow the Bank to pass on the interest-rate risk associated with fixed rate loans. The net effect of the transaction allows the Bank to receive interest on the loan from the customer at a variable rate based on LIBOR plus a spread. The changes in the fair value of the swaps primarily offset each other and therefore should not have a significant impact on the Company’s results of operations, although the Company does incur credit and counterparty risk with respect to performance on the swap agreements by the Bank’s customer and counterparty, respectively. Our interest rate swap derivatives are subject to a master netting arrangement with one counterparty bank. None of our derivative assets and liabilities are offset in the balance sheet. We believe our risk of loss associated with our counterparty borrowers related to interest rate swaps is mitigated as the loans with swaps are underwritten to take into account potential additional exposure, although there can be no assurances in this regard since the performance of our swaps is subject to market and counterparty risk. Balance Sheet Classification of Derivative Financial Instruments As of March 31, 2016 and December 31, 2015, the total notional amount of the Company’s swaps was $188.5 million, and $189.0 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below. March 31, 2016 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 13,132 Other liabilities $ 13,132 Total derivatives $ 13,132 $ 13,132 December 31, 2015 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 9,344 Other liabilities $ 9,344 Total derivatives $ 9,344 $ 9,344 The Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Earnings The following table summarizes the effect of derivative financial instruments on the condensed consolidated statement of earnings for the periods presented. Derivatives Not Designated as Hedging Instruments Location of Gain Recognized in Income on Derivative Instruments Amount of Gain Recognized in Income on Derivative Instruments For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Interest rate swaps Other income $ 58 $ - Total $ 58 $ - |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Other Comprehensive Income | 12. OTHER COMPREHENSIVE INCOME The tables below provide a summary of the components of other comprehensive income (“OCI”) for the periods presented. For the Three Months Ended March 31, 2016 2015 Before-tax Tax effect After-tax Before-tax Tax effect After-tax (Dollars in thousands) Investment securities: Net change in fair value recorded in accumulated OCI $ 28,044 $ 11,778 $ 16,266 $ 20,270 $ 8,514 $ 11,756 Cumulative-effect adjustment for unrealized gains on securities transferred from available-for-sale to held-to-maturity - - - - - - Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity (774) (325) (449) - - - Net realized loss reclassified into earnings - - - - - - Net change $ 27,270 $ 11,453 $ 15,817 $ 20,270 $ 8,514 $ 11,756 The following tables provide a summary of the change in accumulated other comprehensive income for the periods presented. Investment (Dollars in thousands) Balance, January 1, 2016 $ 20,909 Net change in fair value recorded in accumulated OCI 15,817 Net realized loss reclassified into earnings - Balance, March 31, 2016 $ 36,726 Investment (Dollars in thousands) Balance, January 1, 2015 $ 31,075 Net change in fair value recorded in accumulated OCI 11,756 Net realized loss reclassified into earnings - Balance, March 31, 2015 $ 42,831 |
Balance Sheet Offsetting
Balance Sheet Offsetting | 3 Months Ended |
Mar. 31, 2016 | |
Text Block [Abstract] | |
Balance Sheet Offsetting | 13. BALANCE SHEET OFFSETTING Assets and liabilities relating to certain financial instruments, including, derivatives and securities sold under repurchase agreements (“repurchase agreements”), may be eligible for offset in the condensed consolidated balance sheets as permitted under accounting guidance. As noted above, our interest rate swap derivatives are subject to a master netting arrangement with one counterparty bank. Our interest rate swap derivatives require the Company to pledge investment securities as collateral based on certain risk thresholds. Investment securities that have been pledged by the Company to the counterparty bank continue to be reported in the Company’s condensed consolidated balance sheets unless the Company defaults. We offer a repurchase agreement product to our customers, which include master netting agreements that allow for the netting of collateral positions. This product, known as Citizens Sweep Manager, sells certain of our securities overnight to our customers under an agreement to repurchase them the next day. The repurchase agreements are not offset in the condensed consolidated balances. Gross Amounts Gross Amounts Net Amounts of Gross Amounts Not Offset in the Financial Collateral Net Amount (Dollars in thousands) March 31, 2016 Financial assets: Derivatives not designated as hedging instruments $ 13,132 $ - $ - $ 13,132 $ - $ 13,132 Total $ 13,132 $ - $ - $ 13,132 $ - $ 13,132 Financial liabilities: Derivatives not designated as hedging instruments $ 13,132 $ - $ 13,132 $ - $ (14,291) $ (1,159) Repurchase agreements 626,860 - 626,860 - (734,711) (107,851) Total $ 639,992 $ - $ 639,992 $ - $ (749,002) $ (109,010) December 31, 2015 Financial assets: Derivatives not designated as hedging instruments $ 9,344 $ - $ - $ 9,344 $ - $ 9,344 Total $ 9,344 $ - $ - $ 9,344 $ - $ 9,344 Financial liabilities: Derivatives not designated as hedging instruments $ 9,348 $ (4) $ 9,344 $ 4 $ (16,572) $ (7,224) Repurchase agreements 690,704 - 690,704 - (721,102) (30,398) Total $ 700,052 $ (4) $ 700,048 $ 4 $ (737,674) $ (37,622) |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Reclassification | Reclassification |
Fair Value Hierarchy | Fair Value Hierarchy Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The following disclosure provides the fair value information for financial assets and liabilities as of March 31, 2016. The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three broad levels (Level 1, Level 2 and Level 3). • Level 1 • Level 2 • Level 3 |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, FASB issued ASU No. 2016-02, “Leases (Topic 842)”. ASU 2016-02 establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is currently evaluating the impact of adoption of this ASU on its consolidated financial statements. In March 2016, FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. This ASU simplifies several aspects of the accounting for employee share-based payment transactions, including the following: Accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on the statement of cash flows when an employer withholds shares for tax-withholding purposes. ASU 2016-09 is effective for the fiscal years beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted in any interim or annual period provided that the entire ASU is adopted. The Company is currently evaluating the impact of adoption of this ASU on its consolidated financial statements. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Amortized Cost and Estimated Fair Value of Investment Securities | The majority of securities held are publicly traded, and the estimated fair values were obtained from an independent pricing service based upon market quotes. March 31, 2016 Amortized Gross Gain Gross Loss Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Government agency/GSEs $ 5,750 $ 10 $ - $ 5,760 0.25% Residential mortgage-backed securities 1,710,383 48,667 - 1,759,050 76.66% CMOs/REMICs - residential 360,790 7,745 - 368,535 16.06% Municipal bonds 153,761 2,523 (59) 156,225 6.81% Other securities 5,000 89 - 5,089 0.22% Total available-for-sale securities $ 2,235,684 $ 59,034 $ (59) $ 2,294,659 100.00% Investment securities held-to-maturity (1): Government agency/GSEs $ 272,934 $ 5,687 $ - $ 278,621 33.58% Residential mortgage-backed securities 225,079 3,085 - 228,164 27.69% CMO 1,226 499 - 1,725 0.15% Municipal bonds 313,654 4,788 (1,024) 317,418 38.58% Total held-to-maturity securities $ 812,893 $ 14,059 $ (1,024) $ 825,928 100.00% December 31, 2015 Amortized Gross Gain Gross Loss Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Government agency/GSEs $ 5,752 $ - $ (7) $ 5,745 0.24% Residential mortgage-backed securities 1,788,857 26,001 (1,761) 1,813,097 76.55% CMOs/REMICs - residential 380,166 4,689 (1,074) 383,781 16.20% Municipal bonds 157,940 3,036 (3) 160,973 6.80% Other securities 5,000 50 - 5,050 0.21% Total available-for-sale securities $ 2,337,715 $ 33,776 $ (2,845) $ 2,368,646 100.00% Investment securities held-to-maturity (1): Government agency/GSEs $ 293,338 $ 1,176 $ (734) $ 293,780 34.47% Residential mortgage-backed securities 232,053 - (1,293) 230,760 27.27% CMO 1,284 569 - 1,853 0.15% Municipal bonds 324,314 3,051 (719) 326,646 38.11% Total held-to-maturity securities $ 850,989 $ 4,796 $ (2,746) $ 853,039 100.00% (1) Securities held-to-maturity are presented in the condensed consolidated balance sheets at amortized cost. |
Summary of Interest Income Earned on Investment Securities | The following table provides information about the amount of interest income earned on investment securities which is fully taxable and which is exempt from regular federal income tax. For the Three Months 2016 2015 (Dollars in thousands) Investment securities available-for-sale: Taxable $ 11,380 $ 12,923 Tax-advantaged 1,419 5,011 Investment securities held-to-maturity: Taxable 2,620 38 Tax-advantaged 2,728 - Total interest income from investment securities $ 18,147 $ 17,972 |
Summary of Continuous Unrealized Loss Position of Securities | The tables below show the Company’s investment securities’ gross unrealized losses and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2016 and December 31, 2015. Management has reviewed individual securities to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. March 31, 2016 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross (Dollars in thousands) Investment securities available-for-sale: Government agency/GSEs $ - $ - $ - $ - $ - $ - Residential mortgage-backed securities - - - - - - CMOs/REMICs - residential - - - - - - Municipal bonds 3,656 (58) 5,966 (1) 9,622 (59) Other securities - - - - - - Total available-for-sale securities $ 3,656 $ (58) $ 5,966 $ (1) $ 9,622 $ (59) Investment securities held-to-maturity: Government agency/GSEs $ - $ - $ - $ - $ - $ - Residential mortgage-backed securities - - - - - - CMO - - - - - - Municipal bonds 92,467 (1,024) - - 92,467 (1,024) Other securities - - - - - - Total held-to-maturity securities $ 92,467 $ (1,024) $ - $ - $ 92,467 $ (1,024) December 31, 2015 Less Than 12 Months 12 Months or Longer Total Fair Value Gross Fair Value Gross Fair Value Gross (Dollars in thousands) Investment securities available-for-sale: Government agency/GSEs $ 5,745 $ (7) $ - $ - $ 5,745 $ (7) Residential mortgage-backed securities 437,699 (1,761) - - 437,699 (1,761) CMOs/REMICs - residential 171,923 (1,074) - - 171,923 (1,074) Municipal bonds 398 (2) 5,961 (1) 6,359 (3) Other securities - - - - - - Total available-for-sale securities $ 615,765 $ (2,844) $ 5,961 $ (1) $ 621,726 $ (2,845) Investment securities held-to-maturity: Government agency/GSEs $ 84,495 $ (734) $ - $ - $ 84,495 $ (734) Residential mortgage-backed securities 230,760 (1,293) - - 230,760 (1,293) CMO - - - - - - Municipal bonds 110,119 (719) - - 110,119 (719) Other securities - - - - - - Total held-to-maturity securities $ 425,374 $ (2,746) $ - $ - $ 425,374 $ (2,746) |
Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | Mortgage-backed securities and CMOs/REMICs are included in maturity categories based upon estimated prepayment speeds. March 31, 2016 Available-for-sale Held-to-maturity Amortized Fair Value Amortized Fair Value (Dollars in thousands) Due in one year or less $ 15,931 $ 16,125 $ - $ - Due after one year through five years 1,789,155 1,837,957 149,171 150,627 Due after five years through ten years 145,732 148,847 366,305 370,388 Due after ten years 284,866 291,730 297,417 304,913 Total investment securities $ 2,235,684 $ 2,294,659 $ 812,893 $ 825,928 |
Acquired SJB Assets and FDIC 23
Acquired SJB Assets and FDIC Loss Sharing Asset (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Text Block [Abstract] | |
Summary of PCI Loans and Lease Finance Receivables | The following table provides a summary of PCI loans and lease finance receivables by type and their credit quality indicators for the periods indicated. March 31, 2016 December 31, 2015 (Dollars in thousands) Commercial and industrial $ 7,147 $ 7,473 SBA 370 393 Real estate: Commercial real estate 74,598 81,786 Construction - - SFR mortgage 190 193 Dairy & livestock and agribusiness 255 1,429 Municipal lease finance receivables - - Consumer and other loans 2,400 2,438 Gross PCI loans 84,960 93,712 Less: Purchase accounting discount (3,110) (3,872) Gross PCI loans, net of discount 81,850 89,840 Less: Allowance for PCI loan losses - - Net PCI loans $ 81,850 $ 89,840 |
Summary of PCI Loans by Internal Risk Ratings by Loans | The following table summarizes PCI loans by internal risk ratings for the periods indicated. March 31, 2016 December 31, 2015 (Dollars in thousands) Pass $ 68,474 $ 76,401 Special mention 10,842 11,142 Substandard 5,644 6,169 Doubtful & loss - - Total PCI gross loans $ 84,960 $ 93,712 |
Loans and Lease Finance Recei24
Loans and Lease Finance Receivables and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Summary of Components of Loans and Lease Finance Receivables, Excluding PCI Loans | The following table provides a summary of total loans and lease finance receivables, excluding PCI loans, by type. March 31, 2016 December 31, 2015 (Dollars in thousands) Commercial and industrial $ 466,961 $ 434,099 SBA 113,703 106,867 Real estate: Commercial real estate 2,819,119 2,643,184 Construction 89,648 68,563 SFR mortgage 232,965 233,754 Dairy & livestock and agribusiness 227,710 305,509 Municipal lease finance receivables 73,098 74,135 Consumer and other loans 76,103 69,278 Gross loans, excluding PCI loans 4,099,307 3,935,389 Less: Deferred loan fees, net (7,748) (8,292) Gross loans, excluding PCI loans, net of deferred loan fees 4,091,559 3,927,097 Less: Allowance for loan losses (59,336) (59,156) Net loans, excluding PCI loans 4,032,223 3,867,941 PCI Loans 84,960 93,712 Discount on PCI loans (3,110) (3,872) PCI loans, net 81,850 89,840 Total loans and lease finance receivables $ 4,114,073 $ 3,957,781 |
Summary of Loan, Excluding PCI Loans by Internal Risk Ratings | The following table summarizes each type of loans, excluding PCI loans, according to our internal risk ratings for the periods presented. March 31, 2016 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 428,824 $ 30,887 $ 7,211 $ 39 $ 466,961 SBA 94,609 12,729 6,127 238 113,703 Real estate: Commercial real estate Owner occupied 810,362 80,555 10,831 - 901,748 Non-owner occupied 1,861,506 22,715 33,150 - 1,917,371 Construction Speculative 48,091 - 7,651 - 55,742 Non-speculative 33,906 - - - 33,906 SFR mortgage 226,444 3,535 2,986 - 232,965 Dairy & livestock and agribusiness 173,056 48,009 6,645 - 227,710 Municipal lease finance receivables 68,157 4,941 - - 73,098 Consumer and other loans 71,424 1,839 2,753 87 76,103 Total gross loans, excluding PCI loans $ 3,816,379 $ 205,210 $ 77,354 $ 364 $ 4,099,307 December 31, 2015 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 398,651 $ 33,000 $ 2,403 $ 45 $ 434,099 SBA 87,441 13,169 4,854 1,403 106,867 Real estate: Commercial real estate Owner occupied 772,114 54,758 11,481 - 838,353 Non-owner occupied 1,741,615 26,170 37,046 - 1,804,831 Construction Speculative 38,186 - 7,651 - 45,837 Non-speculative 22,726 - - - 22,726 SFR mortgage 227,207 3,556 2,991 - 233,754 Dairy & livestock and agribusiness 285,647 19,862 - - 305,509 Municipal lease finance receivables 69,194 4,941 - - 74,135 Consumer and other loans 64,844 1,618 2,708 108 69,278 Total gross loans, excluding PCI loans $ 3,707,625 $ 157,074 $ 69,134 $ 1,556 $ 3,935,389 |
Schedule of Balance and Activity Related to Allowance for Loan Losses for Held-for-Investment Loans, Excluding PCI Loans by Portfolio Type | The following tables present the balance and activity related to the allowance for loan losses for held-for-investment loans, excluding PCI loans, by portfolio segment for the periods presented. For the Three Months Ended March 31, 2016 Ending Charge-offs Recoveries Provision for Ending (Dollars in thousands) Commercial and industrial $ 8,588 $ (61) $ 63 $ 141 $ 8,731 SBA 993 - 1 242 1,236 Real estate: Commercial real estate 36,995 - 139 1,152 38,286 Construction 2,389 - 9 (1,247) 1,151 SFR mortgage 2,103 (102) - 201 2,202 Dairy & livestock and agribusiness 6,029 - 99 (952) 5,176 Municipal lease finance receivables 1,153 - - 12 1,165 Consumer and other loans 906 - 32 451 1,389 Unallocated (1) - - - - - Total allowance for loan losses $ 59,156 $ (163) $ 343 $ - $ 59,336 For the Three Months Ended March 31, 2015 Ending Charge-offs Recoveries Provision for Ending (Dollars in thousands) Commercial and industrial $ 7,074 $ (134) $ 35 $ 527 $ 7,502 SBA 2,557 (33) 34 (362) 2,196 Real estate: Commercial real estate 33,373 - 857 618 34,848 Construction 988 - 9 46 1,043 SFR mortgage 2,344 - 185 (104) 2,425 Dairy & livestock and agribusiness 5,479 - 99 (1,832) 3,746 Municipal lease finance receivables 1,412 - - (382) 1,030 Consumer and other loans 1,262 (177) 9 (269) 825 Unallocated (1) 5,336 - - 1,758 7,094 Total allowance for loan losses $ 59,825 $ (344) $ 1,228 $ - $ 60,709 (1) Based upon changes to our ALLL methodology, as described in Note 3 — Summary of Significant Accounting Policies |
Schedule of Recorded Investment in Loans Held-for-Investment, Excluding PCI Loans, and Related Allowance for Loan Losses by Portfolio Segment | The following tables present the recorded investment in loans held-for-investment, excluding PCI loans, and the related allowance for loan losses by portfolio segment, based on the Company’s methodology for determining the allowance for loan losses for the periods presented. March 31, 2016 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Individually Collectively (Dollars in thousands) Commercial and industrial $ 1,477 $ 465,484 $ 575 $ 8,156 SBA 3,304 110,399 55 1,181 Real estate: Commercial real estate 35,577 2,783,542 - 38,286 Construction 7,651 81,997 48 1,103 SFR mortgage 5,874 227,091 16 2,186 Dairy & livestock and agribusiness 714 226,996 - 5,176 Municipal lease finance receivables - 73,098 - 1,165 Consumer and other loans 868 75,235 - 1,389 Unallocated (1) - - - - Total $ 55,465 $ 4,043,842 $ 694 $ 58,642 March 31, 2015 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Individually Collectively (Dollars in thousands) Commercial and industrial $ 1,611 $ 401,989 $ 592 $ 6,910 SBA 3,158 123,227 42 2,154 Real estate: Commercial real estate 41,886 2,457,297 154 34,694 Construction 7,651 47,695 - 1,043 SFR mortgage 5,913 199,219 - 2,425 Dairy & livestock and agribusiness 7,277 166,164 - 3,746 Municipal lease finance receivables - 76,220 - 1,030 Consumer and other loans 881 69,868 6 819 Unallocated (1) - - - 7,094 Total $ 68,377 $ 3,541,679 $ 794 $ 59,915 (1) Based upon changes to our ALLL methodology, as described in Note 3 — Summary of Significant Accounting Policies |
Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans | The following tables present the recorded investment in, and the aging of, past due and nonaccrual loans, excluding PCI loans, by type of loans for the periods presented. March 31, 2016 30-59 Days 60-89 Days Total Past Nonaccrual (1) Current Total Loans (Dollars in thousands) Commercial and industrial $ 111 $ - $ 111 $ 622 $ 466,228 466,961 SBA - - - 2,435 111,268 113,703 Real estate: Commercial real estate Owner occupied - - - 2,086 899,662 901,748 Non-owner occupied - - - 9,996 1,907,375 1,917,371 Construction Speculative (2) - - - - 55,742 55,742 Non-speculative - - - - 33,906 33,906 SFR mortgage 625 - 625 2,549 229,791 232,965 Dairy & livestock and agribusiness - - - - 227,710 227,710 Municipal lease finance receivables - - - - 73,098 73,098 Consumer and other loans 47 117 164 456 75,483 76,103 Total gross loans, excluding PCI Loans $ 783 $ 117 $ 900 $ 18,144 $ 4,080,263 $ 4,099,307 (1) As of March 31, 2016, $16.1 million of nonaccruing loans were current, $20,000 were 30-59 days past due, $836,000 were 60-89 days past due and $1.2 million were 90+ days past due. (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. December 31, 2015 30-59 Days 60-89 Days Total Past Nonaccrual (1) Current Total Loans (Dollars in thousands) Commercial and industrial $ - $ - $ - $ 704 $ 433,395 $ 434,099 SBA - - - 2,567 104,300 106,867 Real estate: Commercial real estate Owner occupied - - - 4,174 834,179 838,353 Non-owner occupied 354 - 354 10,367 1,794,110 1,804,831 Construction Speculative (2) - - - - 45,837 45,837 Non-speculative - - - - 22,726 22,726 SFR mortgage 1,082 - 1,082 2,688 229,984 233,754 Dairy & livestock and agribusiness - - - - 305,509 305,509 Municipal lease finance receivables - - - - 74,135 74,135 Consumer and other loans - - - 519 68,759 69,278 Total gross loans, excluding PCI Loans $ 1,436 $ - $ 1,436 $ 21,019 $ 3,912,934 $ 3,935,389 (1) As of December 31, 2015, $7.9 million of nonaccruing loans were current, $456,000 were 30-59 days past due, $9.1 million were 60-89 days past due and $3.5 million were 90+ days past due. (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. |
Schedule of Held-for-Investment Loans, Excluding PCI Loans, Individually Evaluated for Impairment by Class of Loans | The following tables present information for held-for-investment loans, excluding PCI loans, individually evaluated for impairment by type of loans, as and for the periods presented. As of and For the Three Months Ended March 31, 2016 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 805 $ 1,677 $ - $ 831 $ 7 SBA 3,050 3,765 - 3,089 13 Real estate: Commercial real estate Owner occupied 5,315 6,507 - 5,095 51 Non-owner occupied 30,262 33,368 - 30,400 343 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 5,499 6,406 - 5,512 27 Dairy & livestock and agribusiness 714 714 - 710 8 Municipal lease finance receivables - - - - - Consumer and other loans 868 1,420 - 888 4 Total 46,513 53,857 - 46,525 453 With a related allowance recorded: Commercial and industrial 672 741 575 687 3 SBA 254 274 55 254 2 Real estate: Commercial real estate Owner occupied - - - - - Non-owner occupied - - - - - Construction Speculative 7,651 7,651 48 7,651 97 Non-speculative - - - - - SFR mortgage 375 426 16 515 2 Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans - - - - - Total 8,952 9,092 694 9,107 104 Total impaired loans $ 55,465 $ 62,949 $ 694 $ 55,632 $ 557 As of and For the Three Months Ended March 31, 2015 Recorded Unpaid Related Average Interest (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 1,004 $ 1,819 $ - $ 1,017 $ 8 SBA 3,117 3,667 - 3,177 13 Real estate: Commercial real estate Owner occupied 6,117 7,167 - 6,185 64 Non-owner occupied 34,808 42,718 - 35,194 350 Construction Speculative 7,651 7,651 - 7,651 96 Non-speculative - - - - - SFR mortgage 5,913 6,642 - 5,940 27 Dairy & livestock and agribusiness 7,277 8,991 - 7,533 85 Municipal lease finance receivables - - - - - Consumer and other loans 783 1,289 - 836 4 Total 66,670 79,944 - 67,533 647 With a related allowance recorded: Commercial and industrial 607 680 592 617 - SBA 41 54 42 45 - Real estate: Commercial real estate Owner occupied - - - - - Non-owner occupied 961 1,278 154 973 - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 98 107 6 99 - Total 1,707 2,119 794 1,734 - Total impaired loans $ 68,377 $ 82,063 $ 794 $ 69,267 $ 647 As of December 31, 2015 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 1,017 $ 1,894 $ - SBA 3,207 3,877 - Real estate: Commercial real estate Owner occupied 6,252 7,445 - Non-owner occupied 34,041 37,177 - Construction Speculative - - - Non-speculative - - - SFR mortgage 5,665 6,453 - Dairy & livestock and agribusiness 3,685 3,684 - Municipal lease finance receivables - - - Consumer and other loans 890 1,454 - Total 54,757 61,984 - With a related allowance recorded: Commercial and industrial 626 695 626 SBA 41 47 10 Real estate: Commercial real estate Owner occupied - - - Non-owner occupied - - - Construction Speculative 7,651 7,651 13 Non-speculative - - - SFR mortgage 588 640 20 Dairy & livestock and agribusiness - - - Municipal lease finance receivables - - - Consumer and other loans 43 45 - Total 8,949 9,078 669 Total impaired loans $ 63,706 $ 71,062 $ 669 |
Summary of Activity Related to Troubled Debt Restructurings | The following table provides a summary of the activity related to TDRs for the periods presented. For the Three Months Ended 2016 2015 (Dollars in thousands) Performing TDRs: Beginning balance $ 42,687 $ 53,589 New modifications 1,006 - Payoffs and payments, net (6,372) (8,729) TDRs returned to accrual status - 516 TDRs placed on nonaccrual status - - Ending balance $ 37,321 $ 45,376 Nonperforming TDRs: Beginning balance $ 12,622 $ 20,285 New modifications 82 - Charge-offs (38) - Payoffs and payments, net (306) (2,995) TDRs returned to accrual status - (516) TDRs placed on nonaccrual status - - Ending balance $ 12,360 $ 16,774 Total TDRs $ 49,681 $ 62,150 |
Summary of Loans Modified as Troubled Debt Restructurings | The following tables summarize loans modified as troubled debt restructurings for the periods presented. Modifications (1) For the Three Months Ended March 31, 2016 Number of Pre-Modification Investment Post-Modification Investment Outstanding Financial Effect (Dollars in thousands) SBA: Interest rate reduction - - - - - Change in amortization period or maturity 1 194 194 193 28 Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity 2 812 812 778 - Non-owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 2 82 82 75 - Total loans 5 $ 1,088 $ 1,088 $ 1,046 $ 28 For the Three Months Ended March 31, 2015 Number of Pre-Modification Recorded Investment Post-Modification Recorded Investment Outstanding Recorded Investment at Financial Effect Resulting From (Dollars in thousands) SBA: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Total loans - $ - $ - $ - $ - (1) The tables above exclude modified loans that were paid off prior to the end of the period. (2) Financial effects resulting from modifications represent charge-offs and specific allowance recorded at modification date. |
Earnings Per Share Reconcilia25
Earnings Per Share Reconciliation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Common Share Reconciliation | The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations. For the Three Months 2016 2015 (In thousands, except per share amounts) Earnings per common share: Net earnings $ 23,391 $ 15,833 Less: Net earnings allocated to restricted stock 104 81 Net earnings allocated to common shareholders $ 23,287 $ 15,752 Weighted average shares outstanding 106,392 105,523 Basic earnings per common share $ 0.22 $ 0.15 Diluted earnings per common share: Net income allocated to common shareholders $ 23,287 $ 15,752 Weighted average shares outstanding 106,392 105,523 Incremental shares from assumed exercise of outstanding options 392 436 Diluted weighted average shares outstanding 106,784 105,959 Diluted earnings per common share $ 0.22 $ 0.15 |
Fair Value Information (Tables)
Fair Value Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented. Carrying Value at Quoted Prices in Active Markets for Identical Assets Significant Other (Level 2) Significant (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Government agency/GSEs $ 5,760 $ - $ 5,760 $ - Residential mortgage-backed securities 1,759,050 - 1,759,050 - CMOs/REMICs - residential 368,535 - 368,535 - Municipal bonds 156,225 - 156,225 - Other securities 5,089 - 5,089 - Total investment securities - AFS 2,294,659 - 2,294,659 - Interest rate swaps 13,132 - 13,132 - Total assets $ 2,307,791 $ - $ 2,307,791 $ - Description of liability Interest rate swaps $ 13,132 $ - $ 13,132 $ - Total liabilities $ 13,132 $ - $ 13,132 $ - Carrying Value at Quoted Prices in (Level 1) Significant Other Significant (Dollars in thousands) Description of assets Investment securities - AFS: Government agency/GSEs $ 5,745 $ - $ 5,745 $ - Residential mortgage-backed securities 1,813,097 - 1,813,097 - CMOs/REMICs - residential 383,781 - 383,781 - Municipal bonds 160,973 - 160,973 - Other securities 5,050 - 5,050 - Total investment securities - AFS 2,368,646 - 2,368,646 - Interest rate swaps 9,344 - 9,344 - Total assets $ 2,377,990 $ - $ 2,377,990 $ - Description of liability Interest rate swaps $ 9,344 $ - $ 9,344 $ - Total liabilities $ 9,344 $ - $ 9,344 $ - |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets that had losses during the period. Carrying Value at Quoted Prices in Significant Other (Level 2) Significant Total Losses (Dollars in thousands) Description of assets Impaired loans, excluding PCI Loans: Commercial and industrial $ 110 $ - $ - $ 110 $ 13 SBA 213 - - 213 48 Real estate: Commercial real estate - - - - - Construction 7,651 - - 7,651 35 SFR mortgage 504 - - 504 102 Dairy & livestock and agribusiness - - - - - Consumer and other loans - - - - - Other real estate owned 1,611 - - 1,611 248 Total assets $ 10,089 $ - $ - $ 10,089 $ 446 Carrying Value at Quoted Prices in Significant Other Significant Total Losses (Dollars in thousands) Description of assets Impaired loans, excluding PCI Loans: Commercial and industrial $ 228 $ - $ - $ 228 $ 228 SBA 41 - - 41 15 Real estate: Commercial real estate - - - - - Construction 7,651 - - 7,651 13 SFR mortgage 588 - - 588 20 Dairy & livestock and agribusiness - - - - - Consumer and other loans 258 - - 258 101 Other real estate owned 948 - - 948 162 Total assets $ 9,714 $ - $ - $ 9,714 $ 539 |
Estimated Fair Value of Financial Instruments | The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. March 31, 2016 Estimated Fair Value Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and cash equivalents $ 239,586 $ 239,586 $ - $ - $ 239,586 Interest-earning balances due from depository institutions 90,718 - 90,718 - 90,718 FHLB stock 18,501 - 18,501 - 18,501 Investment securities available-for-sale 2,294,659 - 2,294,659 - 2,294,659 Investment securities held-to-maturity 812,893 - 824,203 1,725 825,928 Total loans, net of allowance for loan losses 4,114,073 - - 4,166,203 4,166,203 Swaps 13,132 - 13,132 - 13,132 Liabilities Deposits: Noninterest-bearing $ 3,352,128 3,352,128 - - $ 3,352,128 Interest-bearing 2,864,150 - 2,863,784 - 2,863,784 Borrowings 631,860 - 631,749 - 631,749 Junior subordinated debentures 25,774 - 27,284 - 27,284 Swaps 13,132 - 13,132 - 13,132 December 31, 2015 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and cash equivalents $ 106,097 $ 106,097 $ - $ - $ 106,097 Interest-earning balances due from depository institutions 32,691 - 32,691 - 32,691 FHLB stock 17,588 - 17,588 - 17,588 Investment securities available-for-sale 2,368,646 - 2,368,646 - 2,368,646 Investment securities held-to-maturity 850,989 - 851,186 1,853 853,039 Total loans, net of allowance for loan losses 3,957,781 - - 3,971,329 3,971,329 Swaps 9,344 - 9,344 - 9,344 Liabilities Deposits: Noninterest-bearing $ 3,250,174 3,250,174 - - $ 3,250,174 Interest-bearing 2,667,086 - 2,666,186 - 2,666,186 Borrowings 736,704 - 736,575 - 736,575 Junior subordinated debentures 25,774 - 27,210 - 27,210 Swaps 9,344 - 9,344 - 9,344 |
Business Segments (Tables)
Business Segments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information by Segment | The following tables present the operating results and other key financial measures for the individual operating segments for the periods presented. For the Three Months Ended March 31, 2016 Centers Treasury Other Eliminations Total (Dollars in thousands) Interest income, including loan fees $ 36,504 $ 18,757 $ 9,239 $ - $ 64,500 Credit for funds provided (1) 8,697 - 13,681 (22,378) - Total interest income 45,201 18,757 22,920 (22,378) 64,500 Interest expense 1,680 184 120 - 1,984 Charge for funds used (1) 1,287 15,349 5,742 (22,378) - Total interest expense 2,967 15,533 5,862 (22,378) 1,984 Net interest income 42,234 3,224 17,058 - 62,516 Provision for loan losses - - - - - Net interest income after provision for loan losses 42,234 3,224 17,058 - 62,516 Noninterest income 4,827 - 3,856 - 8,683 Noninterest expense 12,610 216 21,538 - 34,364 Debt termination expense - - - - - Segment pre-tax profit (loss) $ 34,451 $ 3,008 $ (624) $ - $ 36,835 Segment assets as of March 31, 2016 $ 6,602,994 $ 3,417,737 $ 976,032 $ (3,075,927) $ 7,920,836 (1) Credit for funds provided and charges for funds used are eliminated in the condensed consolidated presentation. For the Three Months Ended March 31, 2015 Centers Treasury Other Eliminations Total (Dollars in thousands) Interest income, including loan fees $ 35,368 $ 18,655 $ 10,157 $ - $ 64,180 Credit for funds provided (1) 8,211 - 12,641 (20,852) - Total interest income 43,579 18,655 22,798 (20,852) 64,180 Interest expense 1,663 1,431 77 - 3,171 Charge for funds used (1) 1,067 14,806 4,979 (20,852) - Total interest expense 2,730 16,237 5,056 (20,852) 3,171 Net interest income 40,849 2,418 17,742 - 61,009 Provision for loan losses - - - - - Net interest income after provision for loan losses 40,849 2,418 17,742 - 61,009 Noninterest income 5,067 - 2,944 - 8,011 Noninterest expense 11,849 213 18,540 - 30,602 Debt termination expense - 13,870 - - 13,870 Segment pre-tax profit (loss) $ 34,067 $ (11,665) $ 2,146 $ - $ 24,548 Segment assets as of March 31, 2015 $ 6,216,028 $ 3,450,529 $ 898,554 $ (3,122,160) $ 7,442,951 (1) Credit for funds provided and charges for funds used are eliminated in the condensed consolidated presentation. |
Derivative Financial Instrume28
Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Instruments | As of March 31, 2016 and December 31, 2015, the total notional amount of the Company’s swaps was $188.5 million, and $189.0 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below. March 31, 2016 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 13,132 Other liabilities $ 13,132 Total derivatives $ 13,132 $ 13,132 December 31, 2015 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 9,344 Other liabilities $ 9,344 Total derivatives $ 9,344 $ 9,344 |
Effect of Derivative Instruments on Consolidated Statement of Earnings | The following table summarizes the effect of derivative financial instruments on the condensed consolidated statement of earnings for the periods presented. Derivatives Not Designated as Hedging Instruments Location of Gain Recognized in Income on Derivative Instruments Amount of Gain Recognized in Income on Derivative Instruments For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Interest rate swaps Other income $ 58 $ - Total $ 58 $ - |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Summary of Components of Other Comprehensive Income | The tables below provide a summary of the components of other comprehensive income (“OCI”) for the periods presented. For the Three Months Ended March 31, 2016 2015 Before-tax Tax effect After-tax Before-tax Tax effect After-tax (Dollars in thousands) Investment securities: Net change in fair value recorded in accumulated OCI $ 28,044 $ 11,778 $ 16,266 $ 20,270 $ 8,514 $ 11,756 Cumulative-effect adjustment for unrealized gains on securities transferred from available-for-sale to held-to-maturity - - - - - - Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity (774) (325) (449) - - - Net realized loss reclassified into earnings - - - - - - Net change $ 27,270 $ 11,453 $ 15,817 $ 20,270 $ 8,514 $ 11,756 |
Summary of Change in Accumulated Other Comprehensive Income | The following tables provide a summary of the change in accumulated other comprehensive income for the periods presented. Investment (Dollars in thousands) Balance, January 1, 2016 $ 20,909 Net change in fair value recorded in accumulated OCI 15,817 Net realized loss reclassified into earnings - Balance, March 31, 2016 $ 36,726 Investment (Dollars in thousands) Balance, January 1, 2015 $ 31,075 Net change in fair value recorded in accumulated OCI 11,756 Net realized loss reclassified into earnings - Balance, March 31, 2015 $ 42,831 |
Balance Sheet Offsetting (Table
Balance Sheet Offsetting (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Text Block [Abstract] | |
Schedule of Balance Sheet Offsetting | The repurchase agreements are not offset in the condensed consolidated balances. Gross Amounts Gross Amounts Net Amounts of Gross Amounts Not Offset in the Financial Collateral Net Amount (Dollars in thousands) March 31, 2016 Financial assets: Derivatives not designated as hedging instruments $ 13,132 $ - $ - $ 13,132 $ - $ 13,132 Total $ 13,132 $ - $ - $ 13,132 $ - $ 13,132 Financial liabilities: Derivatives not designated as hedging instruments $ 13,132 $ - $ 13,132 $ - $ (14,291) $ (1,159) Repurchase agreements 626,860 - 626,860 - (734,711) (107,851) Total $ 639,992 $ - $ 639,992 $ - $ (749,002) $ (109,010) December 31, 2015 Financial assets: Derivatives not designated as hedging instruments $ 9,344 $ - $ - $ 9,344 $ - $ 9,344 Total $ 9,344 $ - $ - $ 9,344 $ - $ 9,344 Financial liabilities: Derivatives not designated as hedging instruments $ 9,348 $ (4) $ 9,344 $ 4 $ (16,572) $ (7,224) Repurchase agreements 690,704 - 690,704 - (721,102) (30,398) Total $ 700,052 $ (4) $ 700,048 $ 4 $ (737,674) $ (37,622) |
Business - Additional Informati
Business - Additional Information (Detail) $ in Millions | Mar. 31, 2016FinancialCentersSubsidiary | Feb. 29, 2016USD ($)Branch |
Schedule Of Description Of Company [Line Items] | ||
Number of inactive subsidiaries | Subsidiary | 1 | |
Bank operated Business Financial Centers, number | 44 | |
Bank operated Commercial Banking Centers, number | 8 | |
Bank operated trust offices, number | 3 | |
County Commerce Bank [Member] | ||
Schedule Of Description Of Company [Line Items] | ||
Total assets of merger company | $ | $ 253 | |
Number of branches owned by merger company | Branch | 4 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) | Feb. 29, 2016USD ($)Branch | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Mar. 01, 2016USD ($) | Dec. 31, 2015USD ($) |
Business Acquisition [Line Items] | |||||
Acquisition date | Oct. 16, 2009 | ||||
Goodwill | $ 88,174,000 | $ 74,244,000 | |||
Non-recurring merger related expenses | $ 849,000 | $ 0 | |||
County Commerce Bank [Member] | |||||
Business Acquisition [Line Items] | |||||
Acquisition date | Feb. 29, 2016 | ||||
Number of branches owned by merger company | Branch | 4 | ||||
Acquired assets and assumed liabilities, cash | $ 20,600,000 | ||||
Assets and assumed all of the liabilities, stock | 21,600,000 | ||||
Goodwill | $ 13,900,000 | ||||
Total fair value of assets acquired | 252,400,000 | ||||
Cash and balances due from depository institutions | 54,800,000 | ||||
FHLB stock | 1,500,000 | ||||
Loans and lease finance receivables | 168,000,000 | ||||
Fixed assets | 8,600,000 | ||||
Core deposit intangible assets | 3,900,000 | ||||
Other assets | 1,700,000 | ||||
Total fair value of liabilities assumed | 230,800,000 | ||||
Deposits | 224,200,000 | ||||
Other liabilities | 1,600,000 | ||||
FHLB advances | $ 5,000,000 | ||||
Non-recurring merger related expenses | $ 849,000 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 2,235,684 | $ 2,337,715 |
Gross Unrealized Holding Gain, Available-for-sale | 59,034 | 33,776 |
Gross Unrealized Holding Loss, Available-for-sale | (59) | (2,845) |
Fair Value, Available-for-sale | $ 2,294,659 | $ 2,368,646 |
Total Percent, Available-for-sale | 100.00% | 100.00% |
Amortized Cost, Held-to-maturity | $ 812,893 | $ 850,989 |
Gross Unrealized Holding Gain, Held-to-maturity | 14,059 | 4,796 |
Gross Unrealized Holding Loss, Held-to-maturity | (1,024) | (2,746) |
Fair Value, Held-to-maturity | $ 825,928 | $ 853,039 |
Total Percent, Held-to-maturity | 100.00% | 100.00% |
CMO's/REMIC's - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 360,790 | $ 380,166 |
Gross Unrealized Holding Gain, Available-for-sale | 7,745 | 4,689 |
Gross Unrealized Holding Loss, Available-for-sale | 0 | (1,074) |
Fair Value, Available-for-sale | $ 368,535 | $ 383,781 |
Total Percent, Available-for-sale | 16.06% | 16.20% |
Amortized Cost, Held-to-maturity | $ 1,226 | $ 1,284 |
Gross Unrealized Holding Gain, Held-to-maturity | 499 | 569 |
Gross Unrealized Holding Loss, Held-to-maturity | 0 | 0 |
Fair Value, Held-to-maturity | $ 1,725 | $ 1,853 |
Total Percent, Held-to-maturity | 0.15% | 0.15% |
Government Agency/GSEs [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 5,750 | $ 5,752 |
Gross Unrealized Holding Gain, Available-for-sale | 10 | 0 |
Gross Unrealized Holding Loss, Available-for-sale | 0 | (7) |
Fair Value, Available-for-sale | $ 5,760 | $ 5,745 |
Total Percent, Available-for-sale | 0.25% | 0.24% |
Amortized Cost, Held-to-maturity | $ 272,934 | $ 293,338 |
Gross Unrealized Holding Gain, Held-to-maturity | 5,687 | 1,176 |
Gross Unrealized Holding Loss, Held-to-maturity | 0 | (734) |
Fair Value, Held-to-maturity | $ 278,621 | $ 293,780 |
Total Percent, Held-to-maturity | 33.58% | 34.47% |
Residential Mortgage-backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 1,710,383 | $ 1,788,857 |
Gross Unrealized Holding Gain, Available-for-sale | 48,667 | 26,001 |
Gross Unrealized Holding Loss, Available-for-sale | 0 | (1,761) |
Fair Value, Available-for-sale | $ 1,759,050 | $ 1,813,097 |
Total Percent, Available-for-sale | 76.66% | 76.55% |
Amortized Cost, Held-to-maturity | $ 225,079 | $ 232,053 |
Gross Unrealized Holding Gain, Held-to-maturity | 3,085 | 0 |
Gross Unrealized Holding Loss, Held-to-maturity | 0 | (1,293) |
Fair Value, Held-to-maturity | $ 228,164 | $ 230,760 |
Total Percent, Held-to-maturity | 27.69% | 27.27% |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 153,761 | $ 157,940 |
Gross Unrealized Holding Gain, Available-for-sale | 2,523 | 3,036 |
Gross Unrealized Holding Loss, Available-for-sale | (59) | (3) |
Fair Value, Available-for-sale | $ 156,225 | $ 160,973 |
Total Percent, Available-for-sale | 6.81% | 6.80% |
Amortized Cost, Held-to-maturity | $ 313,654 | $ 324,314 |
Gross Unrealized Holding Gain, Held-to-maturity | 4,788 | 3,051 |
Gross Unrealized Holding Loss, Held-to-maturity | (1,024) | (719) |
Fair Value, Held-to-maturity | $ 317,418 | $ 326,646 |
Total Percent, Held-to-maturity | 38.58% | 38.11% |
Other Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 5,000 | $ 5,000 |
Gross Unrealized Holding Gain, Available-for-sale | 89 | 50 |
Gross Unrealized Holding Loss, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | $ 5,089 | $ 5,050 |
Total Percent, Available-for-sale | 0.22% | 0.21% |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Fair value of securities | $ 898,600,000 | ||
Net unrealized holding gain after tax | $ 2,500,000 | $ 3,900,000 | |
Total held-to-maturity investment securities | $ 812,893,000 | $ 850,989,000 | |
Average life of investment grade debt securities, years | 3 years 9 months 18 days | ||
Credit-related impairment loss on investment securities held-to-maturity | $ 0 | 0 | |
Investment securities pledged as collateral | 2,760,000,000 | 2,810,000,000 | |
Investment in FHLB stock, impairment losses | $ 0 | ||
United States [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities issued by U.S. government percentage | 85.00% | ||
Government Agency/GSEs [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Total held-to-maturity investment securities | $ 272,934,000 | 293,338,000 | |
Agency bond callable | 201,100,000 | ||
Municipal Bonds [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Total held-to-maturity investment securities | $ 313,654,000 | 324,314,000 | |
Average life of investment grade debt securities, years | 8 years 6 months | ||
CMO's/REMIC's - Residential [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Total held-to-maturity investment securities | $ 1,226,000 | $ 1,284,000 | |
CMOs backed by whole loans issued by private-label companies (non-government sponsored) | $ 1,400,000 | ||
Investment contractual cash flows guaranteed by Government, percentage | 99.94% | ||
Investment contractual cash flows guaranteed by banks, percentage | 0.06% |
Investment Securities - Summa35
Investment Securities - Summary of Interest Income Earned on Investment Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Net Investment Income [Line Items] | ||
Total investment income | $ 18,147 | $ 17,972 |
Investment securities available-for-sale [Member] | ||
Net Investment Income [Line Items] | ||
Taxable | 11,380 | 12,923 |
Tax-advantaged | 1,419 | 5,011 |
Investment securities held-to-maturity [Member] | ||
Net Investment Income [Line Items] | ||
Taxable | 2,620 | 38 |
Tax-advantaged | $ 2,728 | $ 0 |
Investment Securities - Summa36
Investment Securities - Summary of Continuous Unrealized Loss Position of Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | $ 3,656 | $ 615,765 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (58) | (2,844) |
Fair Value, 12 Months or Longer, Available-for-sale | 5,966 | 5,961 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (1) | (1) |
Fair Value, Available-for-sale | 9,622 | 621,726 |
Gross Unrealized Holding Losses, Available-for-sale | (59) | (2,845) |
Fair Value, Less Than 12 Months, Held-to-maturity | 92,467 | 425,374 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (1,024) | (2,746) |
Fair Value, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Fair Value, Held-to-maturity | 92,467 | 425,374 |
Gross Unrealized Holding Losses, Held-to-maturity | (1,024) | (2,746) |
CMO's/REMIC's - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 0 | 171,923 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | 0 | (1,074) |
Fair Value, 12 Months or Longer, Available-for-sale | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | 0 | 171,923 |
Gross Unrealized Holding Losses, Available-for-sale | 0 | (1,074) |
Fair Value, Less Than 12 Months, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | 0 | 0 |
Fair Value, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Fair Value, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, Held-to-maturity | 0 | 0 |
Government Agency/GSEs [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 0 | 5,745 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | 0 | (7) |
Fair Value, 12 Months or Longer, Available-for-sale | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | 0 | 5,745 |
Gross Unrealized Holding Losses, Available-for-sale | 0 | (7) |
Fair Value, Less Than 12 Months, Held-to-maturity | 0 | 84,495 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | 0 | (734) |
Fair Value, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Fair Value, Held-to-maturity | 0 | 84,495 |
Gross Unrealized Holding Losses, Held-to-maturity | 0 | (734) |
Residential Mortgage-backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 0 | 437,699 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | 0 | (1,761) |
Fair Value, 12 Months or Longer, Available-for-sale | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | 0 | 437,699 |
Gross Unrealized Holding Losses, Available-for-sale | 0 | (1,761) |
Fair Value, Less Than 12 Months, Held-to-maturity | 0 | 230,760 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | 0 | (1,293) |
Fair Value, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Fair Value, Held-to-maturity | 0 | 230,760 |
Gross Unrealized Holding Losses, Held-to-maturity | 0 | (1,293) |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 3,656 | 398 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (58) | (2) |
Fair Value, 12 Months or Longer, Available-for-sale | 5,966 | 5,961 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (1) | (1) |
Fair Value, Available-for-sale | 9,622 | 6,359 |
Gross Unrealized Holding Losses, Available-for-sale | (59) | (3) |
Fair Value, Less Than 12 Months, Held-to-maturity | 92,467 | 110,119 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (1,024) | (719) |
Fair Value, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Fair Value, Held-to-maturity | 92,467 | 110,119 |
Gross Unrealized Holding Losses, Held-to-maturity | (1,024) | (719) |
Other Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 0 | 0 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | 0 | 0 |
Fair Value, 12 Months or Longer, Available-for-sale | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | 0 | 0 |
Gross Unrealized Holding Losses, Available-for-sale | 0 | 0 |
Fair Value, Less Than 12 Months, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | 0 | 0 |
Fair Value, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | 0 | 0 |
Fair Value, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, Held-to-maturity | $ 0 | $ 0 |
Investment Securities - Summa37
Investment Securities - Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost, Held-to-maturity | $ 0 | |
Due after one year through five years, Amortized Cost, Held-to-maturity | 149,171 | |
Due after five years through ten years, Amortized Cost, Held-to-maturity | 366,305 | |
Due after ten years, Amortized Cost, Held-to-maturity | 297,417 | |
Total Held-to-maturity, Debt Maturities, Amortized Cost Basis | 812,893 | |
Due in one year or less, Fair Value, Held-to-maturity | 0 | |
Due after one year through five years, Fair Value, Held-to-maturity | 150,627 | |
Due after five years through ten years, Fair Value, Held-to-maturity | 370,388 | |
Due after ten years, Fair Value, Held-to-maturity | 304,913 | |
Total, Held-to-maturity, Fair Value | 825,928 | |
Due in one year or less, Amortized Cost, Available-for-sale | 15,931 | |
Due after one year through five years, Amortized Cost, Available-for-sale | 1,789,155 | |
Due after five years through ten years, Amortized Cost, Available-for-sale | 145,732 | |
Due after ten years, Amortized Cost, Available-for-sale | 284,866 | |
Amortized Cost, Available-for-sale | 2,235,684 | $ 2,337,715 |
Due in one year or less, Fair Value, Available-for-sale | 16,125 | |
Due after one year through five years, Fair Value, Available-for-sale | 1,837,957 | |
Due after five years through ten years, Fair Value, Available-for-sale | 148,847 | |
Due after ten years, Fair Value, Available-for-sale | 291,730 | |
Total Available-for-sale Securities, Debt Maturities, Available-for-sale, Fair Value | $ 2,294,659 | $ 2,368,646 |
Acquired SJB Assets and FDIC 38
Acquired SJB Assets and FDIC Loss Sharing Asset - Additional Information (Detail) - USD ($) | Oct. 16, 2009 | Mar. 31, 2016 | Dec. 31, 2015 |
Business Combinations [Abstract] | |||
Acquisition date | Oct. 16, 2009 | ||
After-tax gain included in earnings due to purchase method | $ 12,300,000 | ||
Remaining discount associated with SJB loans | $ 3,100,000 | ||
Expected cash flows | $ 1,600,000 | ||
Remaining average lives of respective pools loans | 3 years | ||
Allowance for PCI loans losses | $ 0 | $ 0 |
Acquired SJB Assets and FDIC 39
Acquired SJB Assets and FDIC Loss Sharing Asset - Summary of PCI Loans and Lease Finance Receivables (Detail) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Real estate: | ||
Less: Allowance for PCI loan losses | $ 0 | $ 0 |
PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 7,147,000 | 7,473,000 |
SBA | 370,000 | 393,000 |
Real estate: | ||
Commercial real estate | 74,598,000 | 81,786,000 |
Construction | 0 | 0 |
SFR mortgage | 190,000 | 193,000 |
Dairy & livestock and agribusiness | 255,000 | 1,429,000 |
Municipal lease finance receivables | 0 | 0 |
Consumer and other loans | 2,400,000 | 2,438,000 |
Gross PCI loans | 84,960,000 | 93,712,000 |
Less: Purchase accounting discount | (3,110,000) | (3,872,000) |
Gross PCI loans, net of discount | 81,850,000 | 89,840,000 |
Less: Allowance for PCI loan losses | 0 | 0 |
Net PCI loans | $ 81,850,000 | $ 89,840,000 |
Acquired SJB Assets and FDIC 40
Acquired SJB Assets and FDIC Loss Sharing Asset - Summary of PCI Loans by Internal Risk Ratings (Detail) - PCI Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total PCI gross loans | $ 84,960 | $ 93,712 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total PCI gross loans | 68,474 | 76,401 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total PCI gross loans | 10,842 | 11,142 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total PCI gross loans | 5,644 | 6,169 |
Doubtful & Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total PCI gross loans | $ 0 | $ 0 |
Loans and Lease Finance Recei41
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Components of Loans and Lease Finance Receivables, Excluding PCI Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans, excluding PCI loans, net of deferred loan fees | $ 4,173,409 | $ 4,016,937 | ||
Less: Allowance for loan losses | (59,336) | (59,156) | ||
Total loans and lease finance receivables | 4,114,073 | 3,957,781 | ||
PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Commercial and industrial | 7,147 | 7,473 | ||
PCI Loans | 84,960 | 93,712 | ||
SBA | 370 | 393 | ||
Discount on PCI loans | (3,110) | (3,872) | ||
Commercial real estate | 74,598 | 81,786 | ||
Construction | 0 | 0 | ||
SFR mortgage | 190 | 193 | ||
Dairy & livestock and agribusiness | 255 | 1,429 | ||
Municipal lease finance receivables | 0 | 0 | ||
Consumer and other loans | 2,400 | 2,438 | ||
Net PCI loans | 81,850 | 89,840 | ||
Loans, Excluding PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Commercial and industrial | 466,961 | 434,099 | ||
SBA | 113,703 | 106,867 | ||
Commercial real estate | 2,819,119 | 2,643,184 | ||
Construction | 89,648 | 68,563 | ||
SFR mortgage | 232,965 | 233,754 | ||
Dairy & livestock and agribusiness | 227,710 | 305,509 | ||
Municipal lease finance receivables | 73,098 | 74,135 | ||
Consumer and other loans | 76,103 | 69,278 | ||
Total gross loans, excluding PCI loans | 4,099,307 | 3,935,389 | ||
Less: Deferred loan fees, net | (7,748) | (8,292) | ||
Gross loans, excluding PCI loans, net of deferred loan fees | 4,091,559 | 3,927,097 | ||
Less: Allowance for loan losses | (59,336) | (59,156) | $ (60,709) | $ (59,825) |
Net PCI loans | $ 4,032,223 | $ 3,867,941 |
Loans and Lease Finance Recei42
Loans and Lease Finance Receivables and Allowance for Loan Losses - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2016USD ($)SecurityLoan | Mar. 31, 2015USD ($)SecurityLoan | Dec. 31, 2015USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total fixed rate loans held | $ 2,030,000,000 | ||
Secure borrowings and available lines of credit from FHLB and Federal Reserve Bank | 3,020,000,000 | $ 2,910,000,000 | |
Impaired, at carrying value | 55,465,000 | $ 68,377,000 | 63,706,000 |
Loans classified as troubled debt restructured | 49,700,000 | ||
Provision for unfunded loan commitments | 0 | $ 500,000 | |
Reserve for credit risk for undisbursed commitments | 7,200,000 | 7,200,000 | |
Allocation of allowance to troubled debt restructuring | $ 642,000 | 607,000 | |
Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of total gross loan portfolio (excluding PCI loans) | 68.77% | ||
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of total gross loan portfolio (excluding PCI loans) | 2.19% | ||
Nonaccrual Small Business Administration Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | $ 2,400,000 | ||
Impaired Loans Modified in Troubled Debt Restructure [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired, at carrying value | 49,700,000 | ||
Nonaccrual Single Family Mortgage Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 2,500,000 | ||
Nonaccrual Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 12,100,000 | ||
Nonaccrual Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 456,000 | ||
Loans, Excluding PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial real estate loans | 2,819,119,000 | 2,643,184,000 | |
Dairy & livestock and agribusiness | 227,710,000 | 305,509,000 | |
Impaired, at carrying value | 63,700,000 | ||
Outstanding balance | 18,144,000 | 21,019,000 | |
Loans, Excluding PCI Loans [Member] | Nonaccrual Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 622,000 | ||
Loans, Excluding PCI Loans [Member] | Dairy & Livestock Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Dairy & livestock and agribusiness | 210,200,000 | 287,000,000 | |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 622,000 | 704,000 | |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 2,435,000 | 2,567,000 | |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 456,000 | 519,000 | |
Loans, Excluding PCI Loans [Member] | Agribusiness Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Dairy & livestock and agribusiness | $ 17,500,000 | $ 18,500,000 | |
Loans, Excluding PCI Loans [Member] | Loans Secured by Farmland [Member] | Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of total gross loan portfolio (excluding PCI loans) | 6.35% | 6.54% | |
Commercial real estate loans | $ 178,900,000 | $ 173,000,000 | |
Loans, Excluding PCI Loans [Member] | Loans Secured by Farmland [Member] | Loans Secured by Dairy & Livestock Land [Member] | Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial real estate loans | 135,100,000 | 128,400,000 | |
Loans, Excluding PCI Loans [Member] | Loans Secured by Farmland [Member] | Loans Secured by Agricultural Land [Member] | Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial real estate loans | 43,800,000 | 44,600,000 | |
Nonperforming Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired, at carrying value | 12,400,000 | ||
Loans classified as troubled debt restructured | 12,400,000 | ||
Performing Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired, at carrying value | 55,500,000 | ||
Loans classified as troubled debt restructured | $ 37,300,000 | ||
Number of performing loans | SecurityLoan | 35 | ||
Performing Financing Receivable [Member] | Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 23,500,000 | ||
Number of loans | SecurityLoan | 14 | ||
Performing Financing Receivable [Member] | Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 7,700,000 | ||
Number of loans | SecurityLoan | 1 | ||
Performing Financing Receivable [Member] | Dairy & Livestock Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 714,000 | ||
Number of loans | SecurityLoan | 1 | ||
Performing Financing Receivable [Member] | Single-family Residential Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 3,300,000 | ||
Number of loans | SecurityLoan | 11 | ||
Performing Financing Receivable [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 855,000 | ||
Number of loans | SecurityLoan | 5 | ||
Performing Financing Receivable [Member] | Small Business Administration [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 869,000 | ||
Number of loans | SecurityLoan | 2 | ||
Performing Financing Receivable [Member] | Consumer and Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 412,000 | ||
Number of loans | SecurityLoan | 1 | ||
Number of loans removed from TDR classification | SecurityLoan | 0 | 0 | |
Allowance Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired, at carrying value | $ 669,000 | ||
Loans classified as troubled debt restructured | $ 694,000 |
Loans and Lease Finance Recei43
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loan, Excluding PCI Loans by Internal Risk Ratings (Detail) - Loans, Excluding PCI Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | $ 466,961 | $ 434,099 |
SBA | 113,703 | 106,867 |
Commercial real estate, Owner occupied | 901,748 | 838,353 |
Commercial real estate, Non-owner occupied | 1,917,371 | 1,804,831 |
Construction, Speculative | 55,742 | 45,837 |
Construction, Non-speculative | 33,906 | 22,726 |
SFR mortgage | 232,965 | 233,754 |
Dairy & livestock and agribusiness | 227,710 | 305,509 |
Municipal lease finance receivables | 73,098 | 74,135 |
Consumer and other loans | 76,103 | 69,278 |
Total gross loans, excluding PCI loans | 4,099,307 | 3,935,389 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 428,824 | 398,651 |
SBA | 94,609 | 87,441 |
Commercial real estate, Owner occupied | 810,362 | 772,114 |
Commercial real estate, Non-owner occupied | 1,861,506 | 1,741,615 |
Construction, Speculative | 48,091 | 38,186 |
Construction, Non-speculative | 33,906 | 22,726 |
SFR mortgage | 226,444 | 227,207 |
Dairy & livestock and agribusiness | 173,056 | 285,647 |
Municipal lease finance receivables | 68,157 | 69,194 |
Consumer and other loans | 71,424 | 64,844 |
Total gross loans, excluding PCI loans | 3,816,379 | 3,707,625 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 30,887 | 33,000 |
SBA | 12,729 | 13,169 |
Commercial real estate, Owner occupied | 80,555 | 54,758 |
Commercial real estate, Non-owner occupied | 22,715 | 26,170 |
Construction, Speculative | 0 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 3,535 | 3,556 |
Dairy & livestock and agribusiness | 48,009 | 19,862 |
Municipal lease finance receivables | 4,941 | 4,941 |
Consumer and other loans | 1,839 | 1,618 |
Total gross loans, excluding PCI loans | 205,210 | 157,074 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 7,211 | 2,403 |
SBA | 6,127 | 4,854 |
Commercial real estate, Owner occupied | 10,831 | 11,481 |
Commercial real estate, Non-owner occupied | 33,150 | 37,046 |
Construction, Speculative | 7,651 | 7,651 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 2,986 | 2,991 |
Dairy & livestock and agribusiness | 6,645 | 0 |
Municipal lease finance receivables | 0 | 0 |
Consumer and other loans | 2,753 | 2,708 |
Total gross loans, excluding PCI loans | 77,354 | 69,134 |
Doubtful & Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 39 | 45 |
SBA | 238 | 1,403 |
Commercial real estate, Owner occupied | 0 | 0 |
Commercial real estate, Non-owner occupied | 0 | 0 |
Construction, Speculative | 0 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 0 | 0 |
Dairy & livestock and agribusiness | 0 | 0 |
Municipal lease finance receivables | 0 | 0 |
Consumer and other loans | 87 | 108 |
Total gross loans, excluding PCI loans | $ 364 | $ 1,556 |
Loans and Lease Finance Recei44
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Balance and Activity Related to Allowance for Loan Losses for Held-for-Investment Loans, Excluding PCI Loans by Portfolio Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | $ 59,156 | |
Provision for Loan Losses | 0 | $ 0 |
Ending Balance | 59,336 | |
Loans, Excluding PCI Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 59,156 | 59,825 |
Charge-offs | (163) | (344) |
Recoveries | 343 | 1,228 |
Provision for Loan Losses | 0 | 0 |
Ending Balance | 59,336 | 60,709 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 8,588 | 7,074 |
Charge-offs | (61) | (134) |
Recoveries | 63 | 35 |
Provision for Loan Losses | 141 | 527 |
Ending Balance | 8,731 | 7,502 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 993 | 2,557 |
Charge-offs | 0 | (33) |
Recoveries | 1 | 34 |
Provision for Loan Losses | 242 | (362) |
Ending Balance | 1,236 | 2,196 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 36,995 | 33,373 |
Charge-offs | 0 | 0 |
Recoveries | 139 | 857 |
Provision for Loan Losses | 1,152 | 618 |
Ending Balance | 38,286 | 34,848 |
Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 2,389 | 988 |
Charge-offs | 0 | 0 |
Recoveries | 9 | 9 |
Provision for Loan Losses | (1,247) | 46 |
Ending Balance | 1,151 | 1,043 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 2,103 | 2,344 |
Charge-offs | (102) | 0 |
Recoveries | 0 | 185 |
Provision for Loan Losses | 201 | (104) |
Ending Balance | 2,202 | 2,425 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 6,029 | 5,479 |
Charge-offs | 0 | 0 |
Recoveries | 99 | 99 |
Provision for Loan Losses | (952) | (1,832) |
Ending Balance | 5,176 | 3,746 |
Loans, Excluding PCI Loans [Member] | Municipal Lease Finance Receivables [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,153 | 1,412 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision for Loan Losses | 12 | (382) |
Ending Balance | 1,165 | 1,030 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 906 | 1,262 |
Charge-offs | 0 | (177) |
Recoveries | 32 | 9 |
Provision for Loan Losses | 451 | (269) |
Ending Balance | 1,389 | 825 |
Loans, Excluding PCI Loans [Member] | Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 0 | 5,336 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
Provision for Loan Losses | 0 | 1,758 |
Ending Balance | $ 0 | $ 7,094 |
Loans and Lease Finance Recei45
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in Loans Held-for-Investment, Excluding PCI Loans, and Related Allowance for Loan Losses by Portfolio Segment (Detail) - Loans, Excluding PCI Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2016 | Mar. 31, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | $ 55,465 | $ 68,377 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 4,043,842 | 3,541,679 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 694 | 794 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 58,642 | 59,915 |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 1,477 | 1,611 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 465,484 | 401,989 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 575 | 592 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 8,156 | 6,910 |
Small Business Administration [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 3,304 | 3,158 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 110,399 | 123,227 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 55 | 42 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,181 | 2,154 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 35,577 | 41,886 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 2,783,542 | 2,457,297 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 154 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 38,286 | 34,694 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 7,651 | 7,651 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 81,997 | 47,695 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 48 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,103 | 1,043 |
SFR Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 5,874 | 5,913 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 227,091 | 199,219 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 16 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 2,186 | 2,425 |
Dairy & Livestock and Agribusiness [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 714 | 7,277 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 226,996 | 166,164 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 5,176 | 3,746 |
Municipal Lease Finance Receivables [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | 0 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 73,098 | 76,220 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,165 | 1,030 |
Consumer and Other Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 868 | 881 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 75,235 | 69,868 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 6 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,389 | 819 |
Unallocated [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | 0 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 0 | 0 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | $ 0 | $ 7,094 |
Loans and Lease Finance Recei46
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans (Detail) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | $ 20,000 | $ 456,000 |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 836,000 | 9,100,000 |
Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 900,000 | 1,436,000 |
Nonaccrual | 18,144,000 | 21,019,000 |
Current | 4,080,263,000 | 3,912,934,000 |
Total gross loans, excluding PCI loans | 4,099,307,000 | 3,935,389,000 |
Loans, Excluding PCI Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 783,000 | 1,436,000 |
Loans, Excluding PCI Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 117,000 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 111,000 | 0 |
Nonaccrual | 622,000 | 704,000 |
Current | 466,228,000 | 433,395,000 |
Total gross loans, excluding PCI loans | 466,961,000 | 434,099,000 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 111,000 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 2,435,000 | 2,567,000 |
Current | 111,268,000 | 104,300,000 |
Total gross loans, excluding PCI loans | 113,703,000 | 106,867,000 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 2,086,000 | 4,174,000 |
Current | 899,662,000 | 834,179,000 |
Total gross loans, excluding PCI loans | 901,748,000 | 838,353,000 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Non-owner Occupied [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 354,000 |
Nonaccrual | 9,996,000 | 10,367,000 |
Current | 1,907,375,000 | 1,794,110,000 |
Total gross loans, excluding PCI loans | 1,917,371,000 | 1,804,831,000 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Non-owner Occupied [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 354,000 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate Non-owner Occupied [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction Speculative [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Current | 55,742,000 | 45,837,000 |
Total gross loans, excluding PCI loans | 55,742,000 | 45,837,000 |
Loans, Excluding PCI Loans [Member] | Construction Speculative [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction Speculative [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction Non-speculative [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Current | 33,906,000 | 22,726,000 |
Total gross loans, excluding PCI loans | 33,906,000 | 22,726,000 |
Loans, Excluding PCI Loans [Member] | Construction Non-speculative [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction Non-speculative [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 625,000 | 1,082,000 |
Nonaccrual | 2,549,000 | 2,688,000 |
Current | 229,791,000 | 229,984,000 |
Total gross loans, excluding PCI loans | 232,965,000 | 233,754,000 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 625,000 | 1,082,000 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Current | 227,710,000 | 305,509,000 |
Total gross loans, excluding PCI loans | 227,710,000 | 305,509,000 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Municipal Lease Finance Receivables [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 0 | 0 |
Current | 73,098,000 | 74,135,000 |
Total gross loans, excluding PCI loans | 73,098,000 | 74,135,000 |
Loans, Excluding PCI Loans [Member] | Municipal Lease Finance Receivables [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Municipal Lease Finance Receivables [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 164,000 | 0 |
Nonaccrual | 456,000 | 519,000 |
Current | 75,483,000 | 68,759,000 |
Total gross loans, excluding PCI loans | 76,103,000 | 69,278,000 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 47,000 | 0 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | $ 117,000 | $ 0 |
Loans and Lease Finance Recei47
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans (Parenthetical) (Detail) - USD ($) | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing loans, current | $ 16,100,000 | $ 7,900,000 |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 20,000 | 456,000 |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 836,000 | 9,100,000 |
90+ Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | $ 1,200,000 | $ 3,500,000 |
Loans and Lease Finance Recei48
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Held-for-Investment Loans, Excluding PCI Loans, Individually Evaluated for Impairment by Class of Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, Total impaired loans | $ 55,465 | $ 68,377 | $ 63,706 |
Unpaid Principal Balance, Total impaired loans | 62,955 | 82,063 | 71,062 |
Related Allowance, Total impaired loans | 694 | 794 | 669 |
Average Recorded Investment, Total impaired loans | 55,632 | 69,267 | |
Interest Income Recognized, Total impaired loans | 557 | 647 | |
Recorded Investment, With no related allowance recorded | 46,513 | 66,670 | 54,757 |
Unpaid Principal Balance, With no related allowance recorded | 53,863 | 79,944 | 61,984 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 46,525 | 67,533 | |
Interest Income Recognized, With no related allowance recorded | 453 | 647 | |
Recorded Investment, With a related allowance recorded | 8,952 | 1,707 | 8,949 |
Unpaid Principal Balance, With a related allowance recorded | 9,092 | 2,119 | 9,078 |
Related Allowance, With a related allowance recorded | 694 | 794 | 669 |
Average Recorded Investment, With a related allowance recorded | 9,107 | 1,734 | |
Interest Income Recognized, With a related allowance recorded | 104 | 0 | |
Commercial and Industrial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 805 | 1,004 | 1,017 |
Unpaid Principal Balance, With no related allowance recorded | 1,677 | 1,819 | 1,894 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 831 | 1,017 | |
Interest Income Recognized, With no related allowance recorded | 7 | 8 | |
Recorded Investment, With a related allowance recorded | 672 | 607 | 626 |
Unpaid Principal Balance, With a related allowance recorded | 741 | 680 | 695 |
Related Allowance, With a related allowance recorded | 575 | 592 | 626 |
Average Recorded Investment, With a related allowance recorded | 687 | 617 | |
Interest Income Recognized, With a related allowance recorded | 3 | 0 | |
Small Business Administration [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 3,050 | 3,117 | 3,207 |
Unpaid Principal Balance, With no related allowance recorded | 3,765 | 3,667 | 3,877 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 3,089 | 3,177 | |
Interest Income Recognized, With no related allowance recorded | 13 | 13 | |
Recorded Investment, With a related allowance recorded | 254 | 41 | 41 |
Unpaid Principal Balance, With a related allowance recorded | 274 | 54 | 47 |
Related Allowance, With a related allowance recorded | 55 | 42 | 10 |
Average Recorded Investment, With a related allowance recorded | 254 | 45 | |
Interest Income Recognized, With a related allowance recorded | 2 | 0 | |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 5,315 | 6,117 | 6,252 |
Unpaid Principal Balance, With no related allowance recorded | 6,507 | 7,167 | 7,445 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 5,095 | 6,185 | |
Interest Income Recognized, With no related allowance recorded | 51 | 64 | |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Commercial Real Estate Non-owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 30,262 | 34,808 | 34,041 |
Unpaid Principal Balance, With no related allowance recorded | 33,368 | 42,718 | 37,177 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 30,400 | 35,194 | |
Interest Income Recognized, With no related allowance recorded | 343 | 350 | |
Recorded Investment, With a related allowance recorded | 0 | 961 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 1,278 | 0 |
Related Allowance, With a related allowance recorded | 0 | 154 | 0 |
Average Recorded Investment, With a related allowance recorded | 0 | 973 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Construction Speculative [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 7,651 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 7,651 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 0 | 7,651 | |
Interest Income Recognized, With no related allowance recorded | 0 | 96 | |
Recorded Investment, With a related allowance recorded | 7,651 | 0 | 7,651 |
Unpaid Principal Balance, With a related allowance recorded | 7,651 | 0 | 7,651 |
Related Allowance, With a related allowance recorded | 48 | 0 | 13 |
Average Recorded Investment, With a related allowance recorded | 7,651 | 0 | |
Interest Income Recognized, With a related allowance recorded | 97 | 0 | |
Construction Non-speculative [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
SFR Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 5,499 | 5,913 | 5,665 |
Unpaid Principal Balance, With no related allowance recorded | 6,406 | 6,642 | 6,453 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 5,512 | 5,940 | |
Interest Income Recognized, With no related allowance recorded | 27 | 27 | |
Recorded Investment, With a related allowance recorded | 375 | 0 | 588 |
Unpaid Principal Balance, With a related allowance recorded | 426 | 0 | 640 |
Related Allowance, With a related allowance recorded | 16 | 0 | 20 |
Average Recorded Investment, With a related allowance recorded | 515 | 0 | |
Interest Income Recognized, With a related allowance recorded | 2 | 0 | |
Dairy & Livestock and Agribusiness [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 714 | 7,277 | 3,685 |
Unpaid Principal Balance, With no related allowance recorded | 714 | 8,991 | 3,684 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 710 | 7,533 | |
Interest Income Recognized, With no related allowance recorded | 8 | 85 | |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Municipal Lease Finance Receivables [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Consumer and Other Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 868 | 783 | 890 |
Unpaid Principal Balance, With no related allowance recorded | 1,420 | 1,289 | 1,454 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 888 | 836 | |
Interest Income Recognized, With no related allowance recorded | 4 | 4 | |
Recorded Investment, With a related allowance recorded | 0 | 98 | 43 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 107 | 45 |
Related Allowance, With a related allowance recorded | 0 | 6 | $ 0 |
Average Recorded Investment, With a related allowance recorded | 0 | 99 | |
Interest Income Recognized, With a related allowance recorded | $ 0 | $ 0 |
Loans and Lease Finance Recei49
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Held-for-Investment Loans, Excluding PCI Loans, Individually Evaluated for Impairment by Class of Loans (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Receivables [Abstract] | |||
Recorded Investment, With no related allowance recorded | $ 46,513 | $ 66,670 | $ 54,757 |
Recorded Investment, With a related allowance recorded | 8,952 | 1,707 | 8,949 |
Recorded Investment, Total impaired loans | 55,465 | 68,377 | 63,706 |
Unpaid Principal Balance, With no related allowance recorded | 53,863 | 79,944 | 61,984 |
Unpaid Principal Balance, With a related allowance recorded | 9,092 | 2,119 | 9,078 |
Unpaid Principal Balance, Total impaired loans | 62,955 | 82,063 | 71,062 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 694 | 794 | 669 |
Related Allowance, Total impaired loans | 694 | 794 | $ 669 |
Average Recorded Investment, With no related allowance recorded | 46,525 | 67,533 | |
Average Recorded Investment, With a related allowance recorded | 9,107 | 1,734 | |
Average Recorded Investment, Total impaired loans | 55,632 | 69,267 | |
Interest Income Recognized, With no related allowance recorded | 453 | 647 | |
Interest Income Recognized, With a related allowance recorded | 104 | 0 | |
Interest Income Recognized, Total impaired loans | $ 557 | $ 647 |
Loans and Lease Finance Recei50
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Activity Related to Troubled Debt Restructurings (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Financing Receivable, Modifications [Line Items] | ||
Ending balance | $ 1,046 | $ 0 |
Total TDRs | 49,681 | 62,150 |
Performing TDRs [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Beginning balance | 42,687 | 53,589 |
New modifications | 1,006 | 0 |
Payoffs and payments, net | (6,372) | (8,729) |
TDRs returned to accrual status | 0 | 516 |
TDRs placed on nonaccrual status | 0 | 0 |
Ending balance | 37,321 | 45,376 |
Nonperforming TDRs [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Beginning balance | 12,622 | 20,285 |
New modifications | 82 | 0 |
Charge-offs | (38) | 0 |
Payoffs and payments, net | (306) | (2,995) |
TDRs returned to accrual status | 0 | (516) |
TDRs placed on nonaccrual status | 0 | 0 |
Ending balance | $ 12,360 | $ 16,774 |
Loans and Lease Finance Recei51
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loans Modified as Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($)Contract | Mar. 31, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 5 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 1,088 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 1,088 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 1,046 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 28 | $ 0 |
Small Business Administration [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Small Business Administration [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 1 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 194 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 194 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 193 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 28 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 2 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 812 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 812 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 778 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Commercial Real Estate Non-owner Occupied [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Commercial Real Estate Non-owner Occupied [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Consumer [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Consumer [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 2 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 82 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 82 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 75 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Earnings Per Share Reconcilia52
Earnings Per Share Reconciliation - Additional Information (Detail) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per common share | 262,000 | 235,000 |
Earnings Per Share Reconcilia53
Earnings Per Share Reconciliation - Schedule of Earnings Per Common Share Reconciliation (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings per common share: | ||
Net earnings | $ 23,391 | $ 15,833 |
Less: Net earnings allocated to restricted stock | 104 | 81 |
Net earnings allocated to common shareholders | $ 23,287 | $ 15,752 |
Weighted average shares outstanding | 106,392 | 105,523 |
Basic earnings per common share | $ 0.22 | $ 0.15 |
Diluted earnings per common share: | ||
Net income allocated to common shareholders | $ 23,287 | $ 15,752 |
Weighted average shares outstanding | 106,392 | 105,523 |
Incremental shares from assumed exercise of outstanding options | 392 | 436 |
Diluted weighted average shares outstanding | 106,784 | 105,959 |
Diluted earnings per common share | $ 0.22 | $ 0.15 |
Fair Value Information - Additi
Fair Value Information - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Fair value assets transfers from Level 1 to Level 2 | $ 0 | $ 0 |
Fair value assets transfers from Level 2 to Level 1 | 0 | 0 |
Fair value liabilities transfers from Level 1 to Level 2 | 0 | 0 |
Fair value liabilities transfers from Level 2 to Level 1 | $ 0 | $ 0 |
Minimum [Member] | ||
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Term of interest rate swap contracts by the counterparty, years | 3 years | |
Maximum [Member] | ||
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Term of interest rate swap contracts by the counterparty, years | 30 years |
Fair Value Information - Assets
Fair Value Information - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, liabilities | $ 639,992 | $ 700,048 |
Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 0 | 0 |
Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 13,132 | 9,344 |
Interest rate swaps, liabilities | 13,132 | 9,344 |
Fair Value on Recurring Basis [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value on Recurring Basis [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 2,307,791 | 2,377,990 |
Total liabilities | 13,132 | 9,344 |
Fair Value on Recurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value on Recurring Basis [Member] | Municipal Bonds [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Municipal Bonds [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 156,225 | 160,973 |
Fair Value on Recurring Basis [Member] | Municipal Bonds [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Government Agency/GSEs [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Government Agency/GSEs [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 5,760 | 5,745 |
Fair Value on Recurring Basis [Member] | Government Agency/GSEs [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Residential Mortgage-backed Securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Residential Mortgage-backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 1,759,050 | 1,813,097 |
Fair Value on Recurring Basis [Member] | Residential Mortgage-backed Securities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | CMO's/REMIC's - Residential [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | CMO's/REMIC's - Residential [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 368,535 | 383,781 |
Fair Value on Recurring Basis [Member] | CMO's/REMIC's - Residential [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Other Securities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Other Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 5,089 | 5,050 |
Fair Value on Recurring Basis [Member] | Other Securities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Investment Securities - AFS [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Investment Securities - AFS [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 2,294,659 | 2,368,646 |
Fair Value on Recurring Basis [Member] | Investment Securities - AFS [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 0 | 0 |
Fair Value on Recurring Basis [Member] | Interest Rate Swaps [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 0 | 0 |
Interest rate swaps, liabilities | 0 | 0 |
Fair Value on Recurring Basis [Member] | Interest Rate Swaps [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 13,132 | 9,344 |
Interest rate swaps, liabilities | 13,132 | 9,344 |
Fair Value on Recurring Basis [Member] | Interest Rate Swaps [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 0 | 0 |
Interest rate swaps, liabilities | 0 | |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 2,307,791 | 2,377,990 |
Total liabilities | 13,132 | 9,344 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 156,225 | 160,973 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Government Agency/GSEs [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 5,760 | 5,745 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Residential Mortgage-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 1,759,050 | 1,813,097 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | CMO's/REMIC's - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 368,535 | 383,781 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Other Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 5,089 | 5,050 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Investment Securities - AFS [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 2,294,659 | 2,368,646 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 13,132 | 9,344 |
Interest rate swaps, liabilities | $ 13,132 | $ 9,344 |
Fair Value Information - Asse56
Fair Value Information - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value on Non-Recurring Basis [Member] - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Description of assets | ||
Total assets | $ 446 | $ 539 |
Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 248 | 162 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 13 | 228 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 48 | 15 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 35 | 13 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 102 | 20 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 0 | 101 |
Level 1 [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | ||
Description of assets | ||
Total assets | 10,089 | 9,714 |
Level 3 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 1,611 | 948 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 110 | 228 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 213 | 41 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 7,651 | 7,651 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 504 | 588 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 0 | 258 |
Carrying Value [Member] | ||
Description of assets | ||
Total assets | 10,089 | 9,714 |
Carrying Value [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 1,611 | 948 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 110 | 228 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 213 | 41 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 7,651 | 7,651 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 504 | 588 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | $ 0 | $ 258 |
Fair Value Information - Estima
Fair Value Information - Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Assets | ||||
Total cash and cash equivalents | $ 239,586 | $ 106,097 | $ 401,372 | $ 105,768 |
Interest-earning balances due from depository institutions | 90,718 | 32,691 | ||
FHLB stock | 18,501 | 17,588 | ||
Investment securities available-for-sale | 2,294,659 | 2,368,646 | ||
Investment securities held-to-maturity | 812,893 | 850,989 | ||
Total loans, net of allowance for loan losses | 4,114,073 | 3,957,781 | ||
Deposits: | ||||
Noninterest-bearing | 3,352,128 | 3,250,174 | ||
Interest-bearing | 2,864,150 | 2,667,086 | ||
Junior subordinated debentures | 25,774 | 25,774 | ||
Swaps | 639,992 | 700,048 | ||
Carrying Value [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 239,586 | 106,097 | ||
Interest-earning balances due from depository institutions | 90,718 | 32,691 | ||
FHLB stock | 18,501 | 17,588 | ||
Investment securities available-for-sale | 2,294,659 | 2,368,646 | ||
Investment securities held-to-maturity | 812,893 | 850,989 | ||
Total loans, net of allowance for loan losses | 4,114,073 | 3,957,781 | ||
Swaps | 13,132 | 9,344 | ||
Deposits: | ||||
Noninterest-bearing | 3,352,128 | 3,250,174 | ||
Interest-bearing | 2,864,150 | 2,667,086 | ||
Borrowings | 631,860 | 736,704 | ||
Junior subordinated debentures | 25,774 | 25,774 | ||
Swaps | 13,132 | 9,344 | ||
Estimated Fair Value [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 239,586 | 106,097 | ||
Interest-earning balances due from depository institutions | 90,718 | 32,691 | ||
FHLB stock | 18,501 | 17,588 | ||
Investment securities available-for-sale | 2,294,659 | 2,368,646 | ||
Investment securities held-to-maturity | 825,928 | 853,039 | ||
Total loans, net of allowance for loan losses | 4,166,203 | 3,971,329 | ||
Swaps | 13,132 | 9,344 | ||
Deposits: | ||||
Noninterest-bearing | 3,352,128 | 3,250,174 | ||
Interest-bearing | 2,863,784 | 2,666,186 | ||
Borrowings | 631,749 | 736,575 | ||
Junior subordinated debentures | 27,284 | 27,210 | ||
Swaps | 13,132 | 9,344 | ||
Estimated Fair Value [Member] | Level 1 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 239,586 | 106,097 | ||
Interest-earning balances due from depository institutions | 0 | 0 | ||
FHLB stock | 0 | 0 | ||
Investment securities available-for-sale | 0 | 0 | ||
Investment securities held-to-maturity | 0 | 0 | ||
Total loans, net of allowance for loan losses | 0 | 0 | ||
Swaps | 0 | 0 | ||
Deposits: | ||||
Noninterest-bearing | 3,352,128 | 3,250,174 | ||
Interest-bearing | 0 | 0 | ||
Borrowings | 0 | 0 | ||
Junior subordinated debentures | 0 | 0 | ||
Swaps | 0 | 0 | ||
Estimated Fair Value [Member] | Level 2 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 0 | 0 | ||
Interest-earning balances due from depository institutions | 90,718 | 32,691 | ||
FHLB stock | 18,501 | 17,588 | ||
Investment securities available-for-sale | 2,294,659 | 2,368,646 | ||
Investment securities held-to-maturity | 824,203 | 851,186 | ||
Total loans, net of allowance for loan losses | 0 | 0 | ||
Swaps | 13,132 | 9,344 | ||
Deposits: | ||||
Noninterest-bearing | 0 | 0 | ||
Interest-bearing | 2,863,784 | 2,666,186 | ||
Borrowings | 631,749 | 736,575 | ||
Junior subordinated debentures | 27,284 | 27,210 | ||
Swaps | 13,132 | 9,344 | ||
Estimated Fair Value [Member] | Level 3 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 0 | 0 | ||
Interest-earning balances due from depository institutions | 0 | 0 | ||
FHLB stock | 0 | 0 | ||
Investment securities available-for-sale | 0 | 0 | ||
Investment securities held-to-maturity | 1,725 | 1,853 | ||
Total loans, net of allowance for loan losses | 4,166,203 | 3,971,329 | ||
Swaps | 0 | 0 | ||
Deposits: | ||||
Noninterest-bearing | 0 | 0 | ||
Interest-bearing | 0 | 0 | ||
Borrowings | 0 | 0 | ||
Junior subordinated debentures | 0 | 0 | ||
Swaps | $ 0 | $ 0 |
Business Segments - Additional
Business Segments - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2016FinancialCentersSegment | |
Segment Reporting [Abstract] | |
Number of principal reporting segments | Segment | 2 |
Bank operated Business Financial Centers, number | FinancialCenters | 44 |
Bank operated Commercial Banking Centers, number | FinancialCenters | 8 |
Consideration of Business Financial and Commercial Banking Centers | Segment | 1 |
Business Segments - Schedule of
Business Segments - Schedule of Segment Reporting Information by Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Interest income, including loan fees | $ 64,500 | $ 64,180 | |
Credit for funds provided | 0 | 0 | |
Total interest income | 64,500 | 64,180 | |
Interest expense | 1,984 | 3,171 | |
Charge for funds used | 0 | 0 | |
Total interest expense | 1,984 | 3,171 | |
Net interest income | 62,516 | 61,009 | |
Provision for loan losses | 0 | 0 | |
Net interest income after provision for loan losses | 62,516 | 61,009 | |
Noninterest income | 8,683 | 8,011 | |
Noninterest expense | 34,364 | 30,602 | |
Debt termination expense | 0 | 13,870 | |
Earnings before income taxes | 36,835 | 24,548 | |
Segment assets | 7,920,836 | 7,442,951 | $ 7,671,200 |
Operating Segments [Member] | Centers [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income, including loan fees | 36,504 | 35,368 | |
Credit for funds provided | 8,697 | 8,211 | |
Total interest income | 45,201 | 43,579 | |
Interest expense | 1,680 | 1,663 | |
Charge for funds used | 1,287 | 1,067 | |
Total interest expense | 2,967 | 2,730 | |
Net interest income | 42,234 | 40,849 | |
Provision for loan losses | 0 | 0 | |
Net interest income after provision for loan losses | 42,234 | 40,849 | |
Noninterest income | 4,827 | 5,067 | |
Noninterest expense | 12,610 | 11,849 | |
Debt termination expense | 0 | 0 | |
Earnings before income taxes | 34,451 | 34,067 | |
Segment assets | 6,602,994 | 6,216,028 | |
Operating Segments [Member] | Treasury [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income, including loan fees | 18,757 | 18,655 | |
Credit for funds provided | 0 | ||
Total interest income | 18,757 | 18,655 | |
Interest expense | 184 | 1,431 | |
Charge for funds used | 15,349 | 14,806 | |
Total interest expense | 15,533 | 16,237 | |
Net interest income | 3,224 | 2,418 | |
Provision for loan losses | 0 | 0 | |
Net interest income after provision for loan losses | 3,224 | 2,418 | |
Noninterest income | 0 | ||
Noninterest expense | 216 | 213 | |
Debt termination expense | 0 | 13,870 | |
Earnings before income taxes | 3,008 | (11,665) | |
Segment assets | 3,417,737 | 3,450,529 | |
Operating Segments [Member] | Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income, including loan fees | 9,239 | 10,157 | |
Credit for funds provided | 13,681 | 12,641 | |
Total interest income | 22,920 | 22,798 | |
Interest expense | 120 | 77 | |
Charge for funds used | 5,742 | 4,979 | |
Total interest expense | 5,862 | 5,056 | |
Net interest income | 17,058 | 17,742 | |
Provision for loan losses | 0 | 0 | |
Net interest income after provision for loan losses | 17,058 | 17,742 | |
Noninterest income | 3,856 | 2,944 | |
Noninterest expense | 21,538 | 18,540 | |
Debt termination expense | 0 | 0 | |
Earnings before income taxes | (624) | 2,146 | |
Segment assets | 976,032 | 898,554 | |
Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest income, including loan fees | 0 | 0 | |
Credit for funds provided | (22,378) | (20,852) | |
Total interest income | (22,378) | (20,852) | |
Interest expense | 0 | 0 | |
Charge for funds used | (22,378) | (20,852) | |
Total interest expense | (22,378) | (20,852) | |
Net interest income | 0 | 0 | |
Provision for loan losses | 0 | 0 | |
Net interest income after provision for loan losses | 0 | 0 | |
Noninterest income | 0 | 0 | |
Noninterest expense | 0 | 0 | |
Debt termination expense | 0 | 0 | |
Earnings before income taxes | 0 | 0 | |
Segment assets | $ (3,075,927) | $ (3,122,160) |
Derivative Financial Instrume60
Derivative Financial Instruments - Additional Information (Detail) | Mar. 31, 2016USD ($)Agreement | Dec. 31, 2015USD ($) |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative assets and liabilities offset in balance sheet | $ 0 | |
Total notional amount of the Company's swaps | $ 188,500,000 | $ 189,000,000 |
Interest-rate Swap Agreements with Customers [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Number of interest-rate swap agreements | Agreement | 77 |
Derivative Financial Instrume61
Derivative Financial Instruments - Fair Value of Derivative Instruments (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | $ 13,132 | $ 9,344 |
Other Liabilities [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 13,132 | 9,344 |
Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 13,132 | 9,344 |
Other Assets [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 13,132 | $ 9,344 |
Derivative Financial Instrume62
Derivative Financial Instruments - Effect of Derivative Instruments on Consolidated Statement of Earnings (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Derivatives, Fair Value [Line Items] | ||
Amount of Gain Recognized in Income on Derivative Instruments | $ 58 | $ 0 |
Interest Rate Swaps [Member] | Other Income [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Amount of Gain Recognized in Income on Derivative Instruments | $ 58 | $ 0 |
Other Comprehensive Income - Su
Other Comprehensive Income - Summary of Components of Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Equity [Abstract] | ||
Net change in fair value recorded in accumulated OCI, Before-tax | $ 28,044 | $ 20,270 |
Net change in fair value recorded in accumulated OCI, Tax effect | 11,778 | 8,514 |
Net change in fair value recorded in accumulated OCI, After-tax | 16,266 | 11,756 |
Cumulative-effect adjustment for unrealized gains on securities transferred from available-for-sale to held-to-maturity, Before-tax | 0 | 0 |
Cumulative-effect adjustment for unrealized gains on securities transferred from available-for-sale to held-to-maturity, Tax effect | 0 | 0 |
Cumulative-effect adjustment for unrealized gains on securities transferred from available-for-sale to held-to-maturity, After-tax | 0 | 0 |
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity, Before-tax | (774) | 0 |
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity, Tax effect | (325) | 0 |
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity, After-tax | (449) | 0 |
Net realized loss reclassified into earnings, Before-Tax | 0 | 0 |
Net realized loss reclassified into earnings, Tax Effect | 0 | 0 |
Net realized loss reclassified into earnings, After-Tax | 0 | 0 |
Net change, Before-tax | 27,270 | 20,270 |
Net change, Tax effect | 11,453 | 8,514 |
Net change, After-tax | $ 15,817 | $ 11,756 |
Other Comprehensive Income - 64
Other Comprehensive Income - Summary of Change in Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Amounts Reclassified Out Of Accumulated Other Comprehensive Income Loss [Abstract] | ||
Beginning balance | $ 20,909 | $ 31,075 |
Net change in fair value recorded in accumulated OCI | 15,817 | 11,756 |
Net realized loss reclassified into earnings | 0 | 0 |
Ending balance | $ 36,726 | $ 42,831 |
Balance Sheet Offsetting - Sche
Balance Sheet Offsetting - Schedule of Balance Sheet Offsetting (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Offsetting Assets Liabilities [Line Items] | ||
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | $ 639,992 | $ 700,052 |
Financial liabilities, Gross Amounts offset in the Condensed Consolidated Balance Sheets | 0 | (4) |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 639,992 | 700,048 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 0 | 4 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (749,002) | (737,674) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | (109,010) | (37,622) |
Repurchase Agreements [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 626,860 | 690,704 |
Financial liabilities, Gross Amounts offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 626,860 | 690,704 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 0 | 0 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (734,711) | (721,102) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | (107,851) | (30,398) |
Interest Rate Swaps [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial assets, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 13,132 | 9,344 |
Financial assets, Gross Amounts offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 13,132 | 9,344 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | 13,132 | 9,344 |
Interest Rate Swaps [Member] | Derivatives Not Designated as Hedging Instruments [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial assets, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 13,132 | 9,344 |
Financial assets, Gross Amounts offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 13,132 | 9,344 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | 13,132 | 9,344 |
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 13,132 | 9,348 |
Financial liabilities, Gross Amounts offset in the Condensed Consolidated Balance Sheets | 0 | (4) |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 13,132 | 9,344 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 0 | 4 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (14,291) | (16,572) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | $ (1,159) | $ (7,224) |