Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 30, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
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 | 110,138,557 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 118,772 | $ 119,445 |
Interest-earning balances due from Federal Reserve and federal funds sold | 263,669 | 2,188 |
Total cash and cash equivalents | 382,441 | 121,633 |
Interest-earning balances due from depository institutions | 30,321 | 47,848 |
Investment securities available-for-sale, at fair value (with amortized cost of $2,255,904 at March 31, 2017, and $2,255,874 at December 31, 2016) | 2,271,703 | 2,270,466 |
Investment securities held-to-maturity (with fair value of $871,755 at March 31, 2017, and $897,374 at December 31, 2016) | 885,057 | 911,676 |
Total investment securities | 3,156,760 | 3,182,142 |
Investment in stock of Federal Home Loan Bank (FHLB) | 19,640 | 17,688 |
Loans and lease finance receivables | 4,615,497 | 4,395,064 |
Allowance for loan losses | (59,212) | (61,540) |
Net loans and lease finance receivables | 4,556,285 | 4,333,524 |
Premises and equipment, net | 47,262 | 42,086 |
Bank owned life insurance | 145,056 | 134,785 |
Accrued interest receivable | 21,886 | 22,259 |
Intangibles | 7,892 | 5,010 |
Goodwill | 119,193 | 89,533 |
Other real estate owned (OREO) | 4,527 | 4,527 |
Income taxes | 40,832 | 45,429 |
Asset held-for-sale | 3,411 | 3,411 |
Other assets | 23,615 | 23,832 |
Total assets | 8,559,121 | 8,073,707 |
Deposits: | ||
Noninterest-bearing | 3,999,107 | 3,673,541 |
Interest-bearing | 2,843,706 | 2,636,139 |
Total deposits | 6,842,813 | 6,309,680 |
Customer repurchase agreements | 564,387 | 603,028 |
Other borrowings | 0 | 53,000 |
Deferred compensation | 18,168 | 12,361 |
Junior subordinated debentures | 25,774 | 25,774 |
Payable for securities purchased | 0 | 23,777 |
Other liabilities | 61,646 | 55,225 |
Total liabilities | 7,512,788 | 7,082,845 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Common stock, authorized, 225,000,000 shares without par; issued and outstanding 110,108,757 at March 31, 2017, and 108,251,981 at December 31, 2016 | 570,997 | 531,192 |
Retained earnings | 464,919 | 449,499 |
Accumulated other comprehensive income, net of tax | 10,417 | 10,171 |
Total stockholders' equity | 1,046,333 | 990,862 |
Total liabilities and stockholders' equity | $ 8,559,121 | $ 8,073,707 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Amortized cost | $ 2,255,904 | $ 2,255,874 |
Fair Value, Held-to-maturity | $ 871,755 | $ 897,374 |
Common stock, par value | ||
Common stock, authorized | 225,000,000 | 225,000,000 |
Common stock, shares issued | 110,108,757 | 108,251,981 |
Common stock, shares outstanding | 110,108,757 | 108,251,981 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest income: | ||
Loans and leases, including fees | $ 48,641 | $ 45,770 |
Investment securities: | ||
Investment securities available-for-sale | 12,640 | 12,799 |
Investment securities held-to-maturity | 5,507 | 5,348 |
Total investment income | 18,147 | 18,147 |
Dividends from FHLB stock | 393 | 368 |
Interest-earning deposits with other institutions and federal funds sold | 267 | 215 |
Total interest income | 67,448 | 64,500 |
Interest expense: | ||
Deposits | 1,433 | 1,437 |
Borrowings and customer repurchase agreements | 429 | 423 |
Junior subordinated debentures | 153 | 124 |
Total interest expense | 2,015 | 1,984 |
Net interest income before recapture of provision for loan losses | 65,433 | 62,516 |
Recapture of provision for loan losses | (4,500) | 0 |
Net interest income after (recapture of) provision for loan losses | 69,933 | 62,516 |
Noninterest income: | ||
Service charges on deposit accounts | 3,727 | 3,747 |
Trust and investment services | 2,296 | 2,203 |
Bankcard services | 765 | 555 |
BOLI income | 715 | 547 |
Gain on sale of loans | 0 | 1,101 |
Other | 1,219 | 530 |
Total noninterest income | 8,722 | 8,683 |
Noninterest expense: | ||
Salaries and employee benefits | 21,575 | 21,198 |
Occupancy and equipment | 3,684 | 3,713 |
Professional services | 1,257 | 1,248 |
Software licenses and maintenance | 1,561 | 1,274 |
Marketing and promotion | 1,239 | 1,427 |
Acquisition related expenses | 676 | 849 |
Other | 4,125 | 4,655 |
Total noninterest expense | 34,117 | 34,364 |
Earnings before income taxes | 44,538 | 36,835 |
Income taxes | 16,034 | 13,444 |
Net earnings | 28,504 | 23,391 |
Other comprehensive income: | ||
Unrealized gain on securities arising during the period, before tax | 424 | 27,270 |
Less: Income tax expense related to items of other comprehensive income | (178) | (11,453) |
Other comprehensive income, net of tax | 246 | 15,817 |
Comprehensive income | $ 28,750 | $ 39,208 |
Basic earnings per common share | $ 0.26 | $ 0.22 |
Diluted earnings per common share | 0.26 | 0.22 |
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 | County Commerce Bank [Member] | Valley Commerce Bancorp [Member] | Common Stock [Member] | Common Stock [Member]County Commerce Bank [Member] | Common Stock [Member]Valley Commerce Bancorp [Member] | Retained Earnings [Member] | Retained Earnings [Member]County Commerce Bank [Member] | Retained Earnings [Member]Valley Commerce Bancorp [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated Other Comprehensive Income [Member]County Commerce Bank [Member] | Accumulated Other Comprehensive Income [Member]Valley Commerce Bancorp [Member] |
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) | 0 | 0 | ||||||||
Repurchase of common stock, shares | (31) | |||||||||||
Issuance of common stock for acquisition | $ 21,642 | $ 21,642 | $ 0 | $ 0 | ||||||||
Issuance of common stock for acquisition, shares | 1,394 | |||||||||||
Exercise of stock options | 285 | $ 285 | 0 | 0 | ||||||||
Exercise of stock options, shares | 25 | |||||||||||
Tax benefit from exercise of stock options | 0 | $ 0 | 0 | 0 | ||||||||
Shares issued pursuant to stock-based compensation plan | 654 | $ 654 | 0 | 0 | ||||||||
Shares issued pursuant to stock-based compensation plan, shares | 13 | |||||||||||
Cash dividends declared on common stock | (12,934) | $ 0 | (12,934) | 0 | ||||||||
Net earnings | 23,391 | 0 | 23,391 | 0 | ||||||||
Other comprehensive income | 15,817 | 0 | 0 | 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 | |||||||||||
Beginning balance at Dec. 31, 2016 | 990,862 | $ 531,192 | 449,499 | 10,171 | ||||||||
Beginning balance, shares at Dec. 31, 2016 | 108,252 | |||||||||||
Cumulative adjustment upon adoption of ASU 2016-09 | 50 | $ 116 | (66) | 0 | ||||||||
Repurchase of common stock | (817) | $ (817) | 0 | 0 | ||||||||
Repurchase of common stock, shares | (36) | |||||||||||
Issuance of common stock for acquisition | $ 37,637 | $ 37,637 | $ 0 | $ 0 | ||||||||
Issuance of common stock for acquisition, shares | 1,634 | |||||||||||
Exercise of stock options | 2,190 | $ 2,190 | 0 | 0 | ||||||||
Exercise of stock options, shares | 240 | |||||||||||
Shares issued pursuant to stock-based compensation plan | 679 | $ 679 | 0 | 0 | ||||||||
Shares issued pursuant to stock-based compensation plan, shares | 19 | |||||||||||
Cash dividends declared on common stock | (13,018) | $ 0 | (13,018) | 0 | ||||||||
Net earnings | 28,504 | 0 | 28,504 | 0 | ||||||||
Other comprehensive income | 246 | 0 | 0 | 246 | ||||||||
Ending balance at Mar. 31, 2017 | $ 1,046,333 | $ 570,997 | $ 464,919 | $ 10,417 | ||||||||
Ending balance, shares at Mar. 31, 2017 | 110,109 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
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, 2017 | Mar. 31, 2016 | |
Cash Flows from Operating Activities | ||
Interest and dividends received | $ 71,499 | $ 68,927 |
Service charges and other fees received | 8,008 | 8,081 |
Interest paid | (2,047) | (1,980) |
Net cash paid to vendors, employees and others | (20,026) | (43,524) |
Income taxes | 165 | 0 |
Payments to FDIC, loss share agreement | (450) | (174) |
Net cash provided by operating activities | 57,149 | 31,330 |
Cash Flows from Investing Activities | ||
Proceeds from redemption of FHLB stock | 0 | 610 |
Net change in interest-earning balances from depository institutions | 18,006 | 4,309 |
Proceeds from repayment of investment securities available-for-sale | 102,426 | 95,004 |
Proceeds from maturity of investment securities available-for-sale | 5,374 | 16,505 |
Purchases of investment securities available-for-sale | (134,572) | (9,888) |
Proceeds from repayment and maturity of investment securities held-to-maturity | 33,411 | 37,032 |
Purchases of investment securities held-to-maturity | (8,895) | 0 |
Net decrease in loan and lease finance receivables | 92,505 | 8,331 |
Proceeds from sale of loans | 0 | 6,417 |
Purchase of premises and equipment | (998) | (911) |
Proceeds from sales of other real estate owned | 0 | 200 |
Cash acquired from acquisition, net of cash paid | 28,325 | (7,504) |
Net cash provided by investing activities | 135,582 | 150,105 |
Cash Flows from Financing Activities | ||
Net increase in other deposits | 181,485 | 101,042 |
Net decrease in time deposits | (10,149) | (26,271) |
Net decrease in other borrowings | (53,000) | (46,000) |
Net decrease in customer repurchase agreements | (38,641) | (63,844) |
Cash dividends on common stock | (12,991) | (12,766) |
Repurchase of common stock | (817) | (392) |
Proceeds from exercise of stock options | 2,190 | 285 |
Net cash provided by (used in) financing activities | 68,077 | (47,946) |
Net increase in cash and cash equivalents | 260,808 | 133,489 |
Cash and cash equivalents, beginning of period | 121,633 | 106,097 |
Cash and cash equivalents, end of period | 382,441 | 239,586 |
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities | ||
Net earnings | 28,504 | 23,391 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Gain on sale of loans | 0 | (1,101) |
Increase in bank owned life insurance | (849) | (638) |
Net amortization of premiums and discounts on investment securities | 4,614 | 5,177 |
Accretion of PCI discount | (253) | (800) |
Recapture of provision for loan losses | (4,500) | 0 |
Valuation adjustment on other real estate owned | 0 | 248 |
Payments to FDIC, loss share agreement | (450) | (174) |
Stock-based compensation | 679 | 654 |
Depreciation and amortization, net | 558 | 137 |
Change in other assets and liabilities | 28,846 | 4,436 |
Total adjustments | 28,645 | 7,939 |
Net cash provided by operating activities | 57,149 | 31,330 |
Supplemental Disclosure of Non-cash Investing Activities | ||
Securities purchased and not settled | 0 | 4,152 |
Issuance of common stock for acquistion | $ 37,637 | $ 21,642 |
Business
Business | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | 1. BUSINESS The condensed consolidated financial statements include 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 On March 10, 2017, we completed the acquisition of Valley Commerce Bancorp (“VCBP”), the holding company for Valley Business Bank (“VBB”), headquartered in the Central Valley area of California with four branch locations and total assets of approximately $400 million. This acquisition strengthens our market share in the Central Valley area of California. Our condensed consolidated financial statements for 2017 include VBB operations, post-merger. See Note 4 – Business Combinations, included herein. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
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 10-K Reclassification |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
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, 10-K 10-K”). Use of Estimates in the Preparation of Financial Statements Adoption of New Accounting Standard No. 2016-09, tax-withholding 2016-09 paid-in Recent Accounting Pronouncements No. 2014-09, No. 2015-14, No. 2014-09 In February 2016, FASB issued ASU No. 2016-02, 2016-02 In June 2016, the FASB issued ASU No. 2016-13, off-balance held-to-maturity available-for-sale No. 2016-13 In August 2016, the FASB issued ASU No. 2016-15, zero-coupon In January, 2017, the FASB issued ASU No. 2017-04, 2017-04 In March, 2017, the FASB issued ASU No. 2017-08, 310-20): 2017-08 No. 2017-08 |
Business Combinations
Business Combinations | 3 Months Ended |
Mar. 31, 2017 | |
Business Combinations [Abstract] | |
Business Combinations | 4. BUSINESS COMBINATIONS Valley Commerce Bancorp Acquisition On March 10, 2017, the Company acquired all of the assets and assumed all of the liabilities of VCBP for $23.2 million in cash and $37.6 million in stock. As a result, VBB was merged with the Bank, the principal subsidiary of CVB. The Company believes this transaction serves to further strengthen its presence in the Central Valley area of California. At close, VBB had four branches located in Visalia, Tulare, Fresno, and Woodlake. Goodwill of $29.7 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 $406.1 million, which included $51.5 million in cash and cash equivalents, $2.0 million in FHLB stock, $309.7 million in loans and lease finance receivables, $5.3 million in fixed assets, $9.4 million in Bank-Owned Life Insurance (“BOLI”), $3.2 million in core deposit intangible assets acquired and $18.5 million in other assets. The total fair value of liabilities assumed was $368.5 million, which included $361.8 million in deposits, and $6.7 million in other liabilities. The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of March 10, 2017. 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, 2017, the Company incurred non-recurring County Commerce Bank Acquisition On February 29, 2016, the Bank acquired all of the assets and assumed all of the liabilities of County Commerce Bank (“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 served to further expand its footprint northward into and along the central coast of California. At close, CCB had four branches located in Ventura, Oxnard, Camarillo, and Westlake Village. The systems integration of CCB and CBB was completed in April 2016. Goodwill of $15.3 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 $289,000 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. The purchase price allocation was finalized in the fourth quarter of 2016. 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 |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2017 | |
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 traded in markets where similar assets are actively traded. Estimated fair values were obtained from an independent pricing service based upon market quotes. March 31, 2017 Amortized Gross Gross Loss Fair Value Total (Dollars in thousands) Investment securities available-for-sale: Government agency/GSE $ 1,749 $ 1 $ - $ 1,750 0.08 % Residential mortgage-backed securities 1,848,307 19,131 (5,685 ) 1,861,753 81.95 % CMO/REMIC - residential 324,283 3,403 (1,242 ) 326,444 14.37 % Municipal bonds 75,886 716 (881 ) 75,721 3.33 % Other securities 5,679 356 - 6,035 0.27 % Total available-for-sale $ 2,255,904 $ 23,607 $ (7,808 ) $ 2,271,703 100.00 % Investment securities held-to-maturity: Government agency/GSE $ 176,281 $ 751 $ (1,620 ) $ 175,412 19.92 % Residential mortgage-backed securities 186,480 - (1,528 ) 184,952 21.07 % CMO 238,397 - (7,563 ) 230,834 26.93 % Municipal bonds 283,899 1,210 (4,552 ) 280,557 32.08 % Total held-to-maturity $ 885,057 $ 1,961 $ (15,263 ) $ 871,755 100.00 % December 31, 2016 Amortized Gross Gross Loss Fair Value Total (Dollars in thousands) Investment securities available-for-sale: Government agency/GSE $ 2,750 $ 2 $ - $ 2,752 0.12 % Residential mortgage-backed securities 1,822,168 18,812 (6,232 ) 1,834,748 80.81 % CMO/REMIC - residential 345,313 3,361 (1,485 ) 347,189 15.29 % Municipal bonds 80,137 889 (955 ) 80,071 3.53 % Other securities 5,506 200 - 5,706 0.25 % Total available-for-sale $ 2,255,874 $ 23,264 $ (8,672 ) $ 2,270,466 100.00 % Investment securities held-to-maturity: Government agency/GSE $ 182,648 $ 362 $ (1,972 ) $ 181,038 20.03 % Residential mortgage-backed securities 193,699 - (1,892 ) 191,807 21.25 % CMO 244,419 - (6,808 ) 237,611 26.81 % Municipal bonds 290,910 776 (4,768 ) 286,918 31.91 % Total held-to-maturity $ 911,676 $ 1,138 $ (15,440 ) $ 897,374 100.00 % 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 Ended 2017 2016 (Dollars in thousands) Investment securities available-for-sale: Taxable $ 11,926 $ 11,380 Tax-advantaged 714 1,419 Total interest income from available-for-sale 12,640 12,799 Investment securities held-to-maturity: Taxable 3,277 2,620 Tax-advantaged 2,230 2,728 Total interest income from held-to-maturity 5,507 5,348 Total interest income from investment securities $ 18,147 $ 18,147 Approximately 88% of the total investment securities portfolio at March 31, 2017 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 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, 2017 and December 31, 2016. Management has reviewed individual securities to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. The unrealized losses on these securities were primarily attributed to changes in interest rates. The issuers of these securities have not, to our knowledge, evidenced any cause for default on these securities. These securities have fluctuated in value since their purchase dates as market rates have fluctuated. However, we have the ability and the intention to hold these securities until their fair values recover to cost or maturity. As such, management does not deem these securities to be Other-Than-Temporarily-Impaired (“OTTI”). March 31, 2017 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/GSE $ - $ - $ - $ - $ - $ - Residential mortgage-backed securities 498,198 (5,685 ) - - 498,198 (5,685 ) CMO/REMIC - residential 97,275 (1,242 ) - - 97,275 (1,242 ) Municipal bonds 23,231 (880 ) 5,986 (1 ) 29,217 (881 ) Total available-for-sale $ 618,704 $ (7,807 ) $ 5,986 $ (1 ) $ 624,690 $ (7,808 ) Investment securities held-to-maturity: Government agency/GSE $ 46,205 $ (1,620 ) $ - $ - $ 46,205 $ (1,620 ) Residential mortgage-backed securities 184,952 (1,528 ) - - 184,952 (1,528 ) CMO 230,834 (7,563 ) - - 230,834 (7,563 ) Municipal bonds 110,334 (3,491 ) 33,200 (1,061 ) 143,534 (4,552 ) Total held-to-maturity $ 572,325 $ (14,202 ) $ 33,200 $ (1,061 ) $ 605,525 $ (15,263 ) December 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/GSE $ - $ - $ - $ - $ - $ - Residential mortgage-backed securities 583,143 (6,232 ) - - 583,143 (6,232 ) CMO/REMIC - residential 128,595 (1,485 ) - - 128,595 (1,485 ) Municipal bonds 23,255 (954 ) 5,981 (1 ) 29,236 (955 ) Total available-for-sale $ 734,993 $ (8,671 ) $ 5,981 $ (1 ) $ 740,974 $ (8,672 ) Investment securities held-to-maturity: Government agency/GSE $ 76,854 $ (1,972 ) $ - $ - $ 76,854 $ (1,972 ) Residential mortgage-backed securities 191,807 (1,892 ) - - 191,807 (1,892 ) CMO 237,611 (6,808 ) - - 237,611 (6,808 ) Municipal bonds 145,804 (3,711 ) 36,971 (1,057 ) 182,775 (4,768 ) Total held-to-maturity $ 652,076 $ (14,383 ) $ 36,971 $ (1,057 ) $ 689,047 $ (15,440 ) At March 31, 2017 and December 31, 2016, investment securities having a carrying value of approximately $2.15 billion and $2.19 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, 2017, by contractual maturity, are shown in the table below. Although mortgage-backed and CMO/REMIC securities have contractual maturities through 2057, expected maturities will differ from contractual maturities because borrowers may have the right to prepay such obligations without penalty. Mortgage-backed and CMO/REMIC securities are included in maturity categories based upon estimated average lives which incorporate estimated prepayment speeds. March 31, 2017 Avaliable-for-sale Held-to-maturity Amortized Fair Amortized Fair Cost Value Cost Value (Dollars in thousands) Due in one year or less $ 22,498 $ 22,719 $ 424 $ 424 Due after one year through five years 1,848,800 1,867,464 165,814 162,958 Due after five years through ten years 327,338 323,905 312,610 308,128 Due after ten years 57,268 57,615 406,209 400,245 Total investment securities $ 2,255,904 $ 2,271,703 $ 885,057 $ 871,755 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, 2017. |
Acquired SJB Assets and FDIC Lo
Acquired SJB Assets and FDIC Loss Sharing Asset | 3 Months Ended |
Mar. 31, 2017 | |
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 10-K At March 31, 2017, the remaining discount associated with the PCI loans approximated $1.3 million. 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 by internal risk ratings (credit quality indicators) for the periods indicated. March 31, 2017 December 31, 2016 (Dollars in thousands) Commercial and industrial $ 1,911 $ 2,309 SBA 1,575 327 Real estate: Commercial real estate 52,293 67,594 Construction - - SFR mortgage 175 178 Dairy & livestock and agribusiness 460 1,216 Municipal lease finance receivables - - Consumer and other loans 1,371 1,469 Gross PCI loans 57,785 73,093 Less: Purchase accounting discount (1,258 ) (1,508 ) Gross PCI loans, net of discount 56,527 71,585 Less: Allowance for PCI loan losses (725 ) (1,219 ) Net PCI loans $ 55,802 $ 70,366 Credit Quality Indicators The following table summarizes gross PCI loans by internal risk ratings for the periods indicated. March 31, 2017 December 31, 2016 (Dollars in thousands) Pass $ 45,205 $ 59,409 Special mention 383 1,162 Substandard 12,197 12,522 Doubtful & loss - - Total gross PCI loans $ 57,785 $ 73,093 |
Loans and Lease Finance Receiva
Loans and Lease Finance Receivables and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2017 | |
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, 2017 December 31, 2016 (Dollars in thousands) Commercial and industrial $ 528,945 $ 485,078 SBA 112,690 97,184 Real estate: Commercial real estate 3,219,299 2,930,141 Construction 72,782 85,879 SFR mortgage 245,362 250,605 Dairy & livestock and agribusiness 244,264 338,631 Municipal lease finance receivables 62,416 64,639 Consumer and other loans 80,163 78,274 Gross loans, excluding PCI loans 4,565,921 4,330,431 Less: Deferred loan fees, net (6,951 ) (6,952 ) Gross loans, excluding PCI loans, net of deferred loan fees 4,558,970 4,323,479 Less: Allowance for loan losses (58,487 ) (60,321 ) Net loans, excluding PCI loans 4,500,483 4,263,158 PCI Loans 57,785 73,093 Discount on PCI loans (1,258 ) (1,508 ) Less: Allowance for loan losses (725 ) (1,219 ) PCI loans, net 55,802 70,366 Total loans and lease finance receivables $ 4,556,285 $ 4,333,524 As of March 31, 2017, 77.47% of the total gross loan portfolio (excluding PCI loans) consisted of real estate loans, 70.51% of which consisted of commercial real estate 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, 2017, $164.9 million, or 5.12% of the total commercial real estate loans included loans secured by farmland, compared to $180.6 million, or 6.16%, at December 31, 2016. The loans secured by farmland included $111.6 million for loans secured by dairy & livestock land and $53.3 million for loans secured by agricultural land at March 31, 2017, compared to $127.1 million for loans secured by dairy & livestock land and $53.6 million for loans secured by agricultural land at December 31, 2016. As of March 31, 2017, dairy & livestock and agribusiness loans of $244.3 million were comprised of $216.3 million for dairy & livestock loans and $28.0 million for agribusiness loans, compared to $317.9 million for dairy & livestock loans and $20.7 million for agribusiness loans at December 31, 2016. At March 31, 2017, the Company held approximately $2.07 billion of total fixed rate loans, including PCI loans. At March 31, 2017 and December 31, 2016, loans totaling $3.12 billion and $3.11 billion, respectively, were pledged to secure the borrowings and available lines of credit from the FHLB and the Federal Reserve Bank. There were no outstanding loans held-for-sale 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 the 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 asset with insignificant value even though partial recovery may be effected in the future. The following table summarizes loans by type, excluding PCI loans, according to our internal risk ratings for the periods presented. March 31, 2017 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 491,534 $ 25,393 $ 12,018 $ - $ 528,945 SBA 97,795 10,098 4,788 9 112,690 Real estate: Commercial real estate Owner occupied 939,031 85,700 22,700 - 1,047,431 Non-owner 2,132,104 22,541 17,223 - 2,171,868 Construction Speculative 53,305 - 384 - 53,689 Non-speculative 19,093 - - - 19,093 SFR mortgage 239,390 4,989 983 - 245,362 Dairy & livestock and agribusiness 137,440 75,054 31,770 - 244,264 Municipal lease finance receivables 58,088 4,328 - - 62,416 Consumer and other loans 75,864 2,198 2,098 3 80,163 Total gross loans, excluding PCI loans $ 4,243,644 $ 230,301 $ 91,964 $ 12 $ 4,565,921 December 31, 2016 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 449,658 $ 21,610 $ 13,809 $ 1 $ 485,078 SBA 80,138 10,553 6,482 11 97,184 Real estate: Commercial real estate Owner occupied 842,992 87,781 19,046 - 949,819 Non-owner 1,941,203 23,534 15,585 - 1,980,322 Construction Speculative 48,841 - - - 48,841 Non-speculative 37,038 - - - 37,038 SFR mortgage 243,374 4,930 2,301 - 250,605 Dairy & livestock and agribusiness 187,819 114,106 36,706 - 338,631 Municipal lease finance receivables 60,102 4,537 - - 64,639 Consumer and other loans 74,328 2,123 1,819 4 78,274 Total gross loans, excluding PCI loans $ 3,965,493 $ 269,174 $ 95,748 $ 16 $ 4,330,431 Allowance for Loan Losses 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 10-K Management believes that the ALLL was appropriate at March 31, 2017 and December 31, 2016. 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 For the Three Months Ended March 31, 2017 Ending Balance December 31, Charge-offs Recoveries (Recapture of) Provision for Loan Losses Ending Balance March 31, 2017 (Dollars in thousands) Commercial and industrial $ 8,154 $ - $ 52 $ (250 ) $ 7,956 SBA 871 - 4 (4 ) 871 Real estate: Commercial real estate 37,443 - - 1,543 38,986 Construction 1,096 - 2,025 (2,301 ) 820 SFR mortgage 2,287 - 64 (165 ) 2,186 Dairy & livestock and agribusiness 8,541 - - (2,699 ) 5,842 Municipal lease finance receivables 941 - - (52 ) 889 Consumer and other loans 988 (2 ) 29 (78 ) 937 PCI loans 1,219 - - (494 ) 725 Total allowance for loan losses $ 61,540 $ (2 ) $ 2,174 $ (4,500 ) $ 59,212 For the Three Months Ended March 31, 2016 Ending Balance December 31, Charge-offs Recoveries (Recapture of) Provision for Loan Losses Ending Balance March 31, 2016 (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 PCI loans - - - - - Total allowance for loan losses $ 59,156 $ (163 ) $ 343 $ - $ 59,336 The following tables present the recorded investment in loans held-for-investment March 31, 2017 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Acquired with Deterioriated Credit Quality Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired with Deterioriated Credit Quality (Dollars in thousands) Commercial and industrial $ 1,150 $ 527,795 $ - $ 88 $ 7,868 $ - SBA 1,926 110,764 - 9 862 - Real estate: Commercial real estate 20,216 3,199,083 - - 38,986 - Construction 384 72,398 - - 820 - SFR mortgage 4,248 241,114 - - 2,186 - Dairy & livestock and agribusiness 1,324 242,940 - - 5,842 - Municipal lease finance receivables - 62,416 - - 889 - Consumer and other loans 801 79,362 - - 937 - PCI loans - - 56,527 - - 725 Total $ 30,049 $ 4,535,872 $ 56,527 $ 97 $ 58,390 $ 725 March 31, 2016 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Acquired with Deterioriated Credit Quality Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired with Deterioriated Credit Quality (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 - PCI loans - - 81,850 - - - Total $ 55,465 $ 4,043,842 $ 81,850 $ 694 $ 58,642 $ - 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, included in our Annual Report on Form 10-K A loan is reported as a 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 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, 2017 30-59 Days Past Due 60-89 Days Past Due Total Past Due and Accruing Nonaccrual (1) Current Total Loans and Financing Receivables (Dollars in thousands) Commercial and industrial $ 42 $ 177 $ 219 $ 506 $ 528,220 $ 528,945 SBA 328 1 329 1,089 111,272 112,690 Real estate: Commercial real estate Owner occupied - - - 2,374 1,045,057 1,047,431 Non-owner - - - 3,249 2,168,619 2,171,868 Construction Speculative (2) - - - 384 53,305 53,689 Non-speculative - - - - 19,093 19,093 SFR mortgage 403 - 403 983 243,976 245,362 Dairy & livestock and agribusiness - - - 1,324 242,940 244,264 Municipal lease finance receivables - - - - 62,416 62,416 Consumer and other loans 30 399 429 438 79,296 80,163 Total gross loans, excluding PCI Loans $ 803 $ 577 $ 1,380 $ 10,347 $ 4,554,194 $ 4,565,921 (1) As of March 31, 2017, $6.2 million of nonaccruing loans were current, $2.2 million were 30-59 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. December 31, 2016 30-59 Days Past Due 60-89 Days Past Due Total Past Due and Accruing Nonaccrual (1) Current Total Loans and Financing Receivables (Dollars in thousands) Commercial and industrial $ - $ - $ - $ 156 $ 484,922 $ 485,078 SBA 352 - 352 2,737 94,095 97,184 Real estate: Commercial real estate Owner occupied - - - 635 949,184 949,819 Non-owner - - - 1,048 1,979,274 1,980,322 Construction Speculative (2) - - - - 48,841 48,841 Non-speculative - - - - 37,038 37,038 SFR mortgage - - - 2,207 248,398 250,605 Dairy & livestock and agribusiness - - - - 338,631 338,631 Municipal lease finance receivables - - - - 64,639 64,639 Consumer and other loans 84 - 84 369 77,821 78,274 Total gross loans, excluding PCI Loans $ 436 $ - $ 436 $ 7,152 $ 4,322,843 $ 4,330,431 (1) As of December 31, 2016, $4.7 million of nonaccruing loans were current, $514,000 were 30-59 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. Impaired Loans At March 31, 2017, the Company had impaired loans, excluding PCI loans, of $30.0 million and included $6.4 million of loans acquired from VBB in the first quarter of 2017. Of this amount, there was $5.6 million of nonaccrual commercial real estate loans, $1.3 million of nonaccrual dairy & livestock and agribusiness loans, $1.1 million of nonaccrual Small Business Administration (“SBA”) loans, $983,000 of nonaccrual single-family residential (“SFR”) mortgage loans, $506,000 of nonaccrual commercial and industrial loans, $438,000 of nonaccrual consumer and other loans, and $384,000 of nonaccrual construction loans. These impaired loans included $21.1 million of loans whose terms were modified in a troubled debt restructuring, of which $1.4 million were classified as nonaccrual. The remaining balance of $19.7 million consisted of 25 loans performing according to the restructured terms. The impaired loans had a specific allowance of $97,000 at March 31, 2017. At December 31, 2016, the Company had classified as impaired, loans, excluding PCI loans, with a balance of $26.4 million with a related allowance of $141,000. The following tables present information for held-for-investment As of and For the Three Months Ended Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 1,015 $ 1,985 $ - $ 1,045 $ 6 SBA 1,917 2,272 - 1,960 16 Real estate: Commercial real estate Owner occupied 6,669 7,081 - 6,434 32 Non-owner 13,547 16,198 - 13,479 401 Construction Speculative 384 402 - 384 - Non-speculative - - - - - SFR mortgage 4,248 5,024 - 4,259 34 Dairy & livestock and agribusiness 1,324 1,610 - 1,839 1 Municipal lease finance receivables - - - - - Consumer and other loans 801 1,379 - 809 5 Total 29,905 35,951 - 30,209 495 With a related allowance recorded: Commercial and industrial 135 136 88 152 2 SBA 9 25 9 10 - Real estate: Commercial real estate Owner occupied - - - - - Non-owner - - - - - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans - - - - - Total 144 161 97 162 2 Total impaired loans $ 30,049 $ 36,112 $ 97 $ 30,371 $ 497 As of and For the Three Months Ended Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (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 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 - - - - - 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 December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance (Dollars in thousands) With no related allowance recorded Commercial and industrial $ 730 $ 1,646 $ - SBA 3,386 4,189 - Real estate: Commercial real estate Owner occupied 1,797 2,276 - Non-owner 13,331 15,842 - Construction Speculative - - - Non-speculative - - - SFR mortgage 5,174 6,075 - Dairy & livestock and agribusiness 747 747 - Municipal lease finance receivables - - - Consumer and other loans 853 1,423 - Total 26,018 32,198 - With a related allowance recorded Commercial and industrial 171 171 114 SBA 196 212 27 Real estate: Commercial real estate Owner occupied - - - Non-owner - - - Construction Speculative - - - Non-speculative - - - SFR mortgage - - - Dairy & livestock and agribusiness - - - Municipal lease finance receivables - - - Consumer and other loans - - - Total 367 383 141 Total impaired loans $ 26,385 $ 32,581 $ 141 The Company recognizes the charge-off charge-off non-collateral Reserve for Unfunded Loan Commitments The allowance for off-balance off-balance Troubled Debt Restructurings (“TDRs”) Loans that are reported as TDRs are considered impaired and charge-off Summary of Significant Accounting Policies 10-K As of March 31, 2017, there were $21.1 million of loans classified as a TDR, of which $1.4 million were nonperforming and $19.7 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, 2017, performing TDRs were comprised of six commercial real estate loans of $14.6 million, 11 SFR mortgage loans of $3.3 million, two SBA loans of $837,000, five commercial and industrial loans of $644,000, and one consumer loan of $363,000. 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 $97,000 and $141,000 of specific allowance to TDRs as of March 31, 2017 and December 31, 2016, respectively. The following table provides a summary of the activity related to TDRs for the periods presented. For the Three Months Ended March 31, 2017 2016 (Dollars in thousands) Performing TDRs: Beginning balance $ 19,233 $ 42,687 New modifications 3,143 1,006 Payoffs and payments, net (3,003 ) (6,372 ) TDRs returned to accrual status 329 - TDRs placed on nonaccrual status - - Ending balance $ 19,702 $ 37,321 Nonperforming TDRs: Beginning balance $ 1,626 $ 12,622 New modifications 2,066 82 Charge-offs - (38 ) Payoffs and payments, net (1,956 ) (306 ) TDRs returned to accrual status (329 ) - TDRs placed on nonaccrual status - - Ending balance $ 1,407 $ 12,360 Total TDRs $ 21,109 $ 49,681 The following tables summarize loans modified as troubled debt restructurings for the periods presented. Modifications (1) For the Three Months Ended March 31, 2017 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Outstanding Recorded Investment at March 31, 2017 Financial Effect Resulting From Modifications (2) (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - 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 1 3,143 3,143 3,143 - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity 1 1,984 1,984 78 - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 1 82 82 80 - Total loans 3 $ 5,209 $ 5,209 $ 3,301 $ - For the Three Months Ended March 31, 2016 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Outstanding Recorded Investment at March 31, 2016 Financial Effect Resulting From Modifications (2) (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - 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 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 (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, 2017, 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, 2017. |
Earnings Per Share Reconciliati
Earnings Per Share Reconciliation | 3 Months Ended |
Mar. 31, 2017 | |
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 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 Ended March 31, 2017 2016 (In thousands, except per share amounts) Earnings per common share: Net earnings $ 28,504 $ 23,391 Less: Net earnings allocated to restricted stock 112 104 Net earnings allocated to common shareholders $ 28,392 $ 23,287 Weighted average shares outstanding 108,339 106,392 Basic earnings per common share $ 0.26 $ 0.22 Diluted earnings per common share: Net income allocated to common shareholders $ 28,392 $ 23,287 Weighted average shares outstanding 108,339 106,392 Incremental shares from assumed exercise of outstanding options 467 392 Diluted weighted average shares outstanding 108,806 106,784 Diluted earnings per common share $ 0.26 $ 0.22 |
Fair Value Information
Fair Value Information | 3 Months Ended |
Mar. 31, 2017 | |
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, 2017. 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, 2017 and 2016. 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 March 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Government agency/GSE $ 1,750 $ - $ 1,750 $ - Residential mortgage-backed securities 1,861,753 - 1,861,753 - CMO/REMIC - residential 326,444 - 326,444 - Municipal bonds 75,721 - 75,721 - Other securities 6,035 - 6,035 - Total investment securities - AFS 2,271,703 - 2,271,703 - Interest rate swaps 4,985 - 4,985 - Total assets $ 2,276,688 $ - $ 2,276,688 $ - Description of liability Interest rate swaps $ 4,985 $ - $ 4,985 $ - Total liabilities $ 4,985 $ - $ 4,985 $ - Carrying Value at December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Government agency/GSE $ 2,752 $ - $ 2,752 $ - Residential mortgage-backed securities 1,834,748 - 1,834,748 - CMO/REMIC - residential 347,189 - 347,189 - Municipal bonds 80,071 - 80,071 - Other securities 5,706 - 5,706 - Total investment securities - AFS 2,270,466 - 2,270,466 - Interest rate swaps 5,783 - 5,783 - Total assets $ 2,276,249 $ - $ 2,276,249 $ - Description of liability Interest rate swaps $ 5,783 $ - $ 5,783 $ - Total liabilities $ 5,783 $ - $ 5,783 $ - Assets and Liabilities Measured at Fair Value on a Non-Recurring We may be required to measure certain assets at fair value on a non-recurring non-recurring non-recurring Carrying Value at December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Losses For the Year Ended December 31, 2016 (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ 65 $ - $ - $ 65 $ 8 SBA 196 - - 196 27 Real estate: Commercial real estate - - - - - Construction - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Consumer and other loans - - - - - Other real estate owned - - - - - Asset held-for-sale 3,411 3,411 2,558 Total assets $ 3,672 $ - $ - $ 3,672 $ 2,593 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, 2017 and December 31, 2016, respectively. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. March 31, 2017 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and due from banks $ 118,772 $ 118,772 $ - $ - $ 118,772 Interest-earning balances due from depository institutions and federal funds sold 263,669 - 263,669 - 263,669 FHLB stock 19,640 - 19,640 - 19,640 Investment securities available-for-sale 2,271,703 - 2,271,703 - 2,271,703 Investment securities held-to-maturity 885,057 - 871,755 - 871,755 Total loans, net of allowance for loan losses 4,556,285 - - 4,520,673 4,520,673 Swaps 4,985 - 4,985 - 4,985 Liabilities Deposits: Noninterest-bearing $ 3,999,107 $ 3,999,107 $ - $ - $ 3,999,107 Interest-bearing 2,843,706 - 2,841,739 - 2,841,739 Borrowings 564,387 - 564,147 - 564,147 Junior subordinated debentures 25,774 - - 18,913 18,913 Swaps 4,985 - 4,985 - 4,985 December 31, 2016 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and due from banks $ 119,445 $ 119,445 $ - $ - $ 119,445 Interest-earning balances due from depository institutions 2,188 - 2,188 - 2,188 FHLB stock 17,688 - 17,688 - 17,688 Investment securities available-for-sale 2,270,466 - 2,270,466 - 2,270,466 Investment securities held-to-maturity 911,676 - 897,374 - 897,374 Total loans, net of allowance for loan losses 4,333,524 - - 4,306,225 4,306,225 Swaps 5,783 - 5,783 - 5,783 Liabilities Deposits: Noninterest-bearing $ 3,673,541 $ 3,673,541 $ - $ - $ 3,673,541 Interest-bearing 2,636,139 - 2,634,443 - 2,634,443 Borrowings 656,028 - 655,820 - 655,820 Junior subordinated debentures 25,774 - - 18,463 18,463 Swaps 5,783 - 5,783 - 5,783 The fair value estimates presented herein are based on pertinent information available to management as of March 31, 2017 and December 31, 2016. 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, 2017 | |
Segment Reporting [Abstract] | |
Business Segments | 10. BUSINESS SEGMENTS The Company has identified two principal reportable segments: Business Financial and Commercial Banking Centers (“Centers”) and Dairy & Livestock and Agribusiness. All other operations have been aggregated in “Other”. The Bank has 54 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 departments 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 two segments in deciding how to allocate resources and to assess performance. Our two principal reporting segments, Centers and Dairy & Livestock and Agribusiness, are aggregated into separate operating segments 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. In 2016, Dairy & Livestock and Agribusiness was reflected as our second reportable segment. All other operating departments have been aggregated and included in “Other” for reporting purposes. Recapture of provision for loan losses was allocated by segment based on loan type in 2016. Prior period information has been conformed to the current presentation. In addition, the Company allocates internal funds 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 the “Other” category. 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 10-K 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, 2017 Centers Dairy & livestock and agribusiness Other (1) Total (Dollars in thousands) Net interest income $ 45,578 $ 2,144 $ 17,711 $ 65,433 (Recapture of) provision for loan losses 511 (2,699 ) (2,312 ) (4,500 ) Net interest income after (recapture of) provision for loan losses 45,067 4,843 20,023 69,933 Noninterest income 5,207 55 3,460 8,722 Noninterest expense 12,438 501 21,178 34,117 Segment pre-tax $ 37,836 $ 4,397 $ 2,305 $ 44,538 Goodwill $ 119,193 $ - $ - $ 119,193 Segment assets as of March 31, 2017 $ 7,399,909 $ 363,029 $ 796,183 $ 8,559,121 (1) Includes the elimination of certain items that are included in more than one department, most of which represents products and services for Centers’ customers. For the Three Months Ended March 31, 2016 Centers Dairy & livestock and agribusiness Other (1) Total (Dollars in thousands) Net interest income $ 42,234 $ 1,933 $ 18,349 $ 62,516 (Recapture of) provision for loan losses 2,200 (952 ) (1,248 ) - Net interest income after (recapture of) provision for loan losses 40,034 2,885 19,597 62,516 Noninterest income 4,827 53 3,803 8,683 Noninterest expense 12,610 479 21,275 34,364 Segment pre-tax $ 32,251 $ 2,459 $ 2,125 $ 36,835 Goodwill $ 88,174 $ - $ - $ 88,174 Segment assets as of March 31, 2016 $ 6,586,237 $ 386,804 $ 947,795 $ 7,920,836 (1) Includes the elimination of certain items that are included in more than one department, most of which represents products and services for Centers’ customers. |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2017 | |
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, 2017, the Bank has entered into 80 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 the customer fixed rate swaps. 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, 2017 and December 31, 2016, the total notional amount of the Company’s swaps was $207.0 million, and $202.7 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below. March 31, 2017 Asset Derivatives Liability Derivatives Balance Sheet Fair Value Balance Sheet Fair Value (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 4,985 Other liabilities $ 4,985 Total derivatives $ 4,985 $ 4,985 December 31, 2016 Asset Derivatives Liability Derivatives Balance Sheet Fair Value Balance Sheet Fair Value (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 5,783 Other liabilities $ 5,783 Total derivatives $ 5,783 $ 5,783 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 Amount of Gain Recognized in Income on Derivative Instruments For the Three Months Ended March 31, 2017 2016 (Dollars in thousands) Interest rate swaps Other income $ 323 $ 58 Total $ 323 $ 58 |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Other Comprehensive Income | 12. OTHER COMPREHENSIVE INCOME The table below provides a summary of the components of other comprehensive income (“OCI”) for the periods presented. For the Three Months Ended March 31, 2017 2016 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 $ 1,207 $ 507 $ 700 $ 28,044 $ 11,778 $ 16,266 Cumulative-effect adjustment for unrealized gains on securities transferred from available-for-sale held-to-maturity - - - - - - Amortization of unrealized gains on securities transferred from available-for-sale held-to-maturity (783 ) (329 ) (454 ) (774 ) (325 ) (449 ) Net realized (gain)/loss reclassified into earnings - - - - - - Net Change $ 424 $ 178 $ 246 $ 27,270 $ 11,453 $ 15,817 |
Balance Sheet Offsetting
Balance Sheet Offsetting | 3 Months Ended |
Mar. 31, 2017 | |
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 Net Amount the Condensed Condensed in the Condensed Financial Collateral (Dollars in thousands) March 31, 2017 Financial assets: Derivatives not designated as hedging instruments $ 4,985 $ - $ - $ 4,985 $ - $ 4,985 Total $ 4,985 $ - $ - $ 4,985 $ - $ 4,985 Financial liabilities: Derivatives not designated as hedging instruments $ 6,231 $ (1,246 ) $ 4,985 $ 1,246 $ (12,756 ) $ (6,525 ) Repurchase agreements 564,387 - 564,387 - (674,122 ) (109,735 ) Total $ 570,618 $ (1,246 ) $ 569,372 $ 1,246 $ (686,878 ) $ (116,260 ) December 31, 2016 Financial assets: Derivatives not designated as hedging instruments $ 5,783 $ - $ - $ 5,783 $ - $ 5,783 Total $ 5,783 $ - $ - $ 5,783 $ - $ 5,783 Financial liabilities: Derivatives not designated as hedging instruments $ 6,855 $ (1,072 ) $ 5,783 $ 1,072 $ (12,800 ) $ (5,945 ) Repurchase agreements 603,028 - 603,028 - (683,413 ) (80,385 ) Total $ 609,883 $ (1,072 ) $ 608,811 $ 1,072 $ (696,213 ) $ (86,330 ) |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Reclassification | Reclassification |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements |
Adoption of New Accounting Standard and Recent Accounting Pronouncements | Adoption of New Accounting Standard No. 2016-09, tax-withholding 2016-09 paid-in Recent Accounting Pronouncements No. 2014-09, No. 2015-14, No. 2014-09 In February 2016, FASB issued ASU No. 2016-02, 2016-02 In June 2016, the FASB issued ASU No. 2016-13, off-balance held-to-maturity available-for-sale No. 2016-13 In August 2016, the FASB issued ASU No. 2016-15, zero-coupon In January, 2017, the FASB issued ASU No. 2017-04, 2017-04 In March, 2017, the FASB issued ASU No. 2017-08, 310-20): 2017-08 No. 2017-08 |
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, 2017. 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 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Amortized Cost and Estimated Fair Value of Investment Securities | The majority of securities held are traded in markets where similar assets are actively traded. Estimated fair values were obtained from an independent pricing service based upon market quotes. March 31, 2017 Amortized Gross Gross Loss Fair Value Total (Dollars in thousands) Investment securities available-for-sale: Government agency/GSE $ 1,749 $ 1 $ - $ 1,750 0.08 % Residential mortgage-backed securities 1,848,307 19,131 (5,685 ) 1,861,753 81.95 % CMO/REMIC - residential 324,283 3,403 (1,242 ) 326,444 14.37 % Municipal bonds 75,886 716 (881 ) 75,721 3.33 % Other securities 5,679 356 - 6,035 0.27 % Total available-for-sale $ 2,255,904 $ 23,607 $ (7,808 ) $ 2,271,703 100.00 % Investment securities held-to-maturity: Government agency/GSE $ 176,281 $ 751 $ (1,620 ) $ 175,412 19.92 % Residential mortgage-backed securities 186,480 - (1,528 ) 184,952 21.07 % CMO 238,397 - (7,563 ) 230,834 26.93 % Municipal bonds 283,899 1,210 (4,552 ) 280,557 32.08 % Total held-to-maturity $ 885,057 $ 1,961 $ (15,263 ) $ 871,755 100.00 % December 31, 2016 Amortized Gross Gross Loss Fair Value Total (Dollars in thousands) Investment securities available-for-sale: Government agency/GSE $ 2,750 $ 2 $ - $ 2,752 0.12 % Residential mortgage-backed securities 1,822,168 18,812 (6,232 ) 1,834,748 80.81 % CMO/REMIC - residential 345,313 3,361 (1,485 ) 347,189 15.29 % Municipal bonds 80,137 889 (955 ) 80,071 3.53 % Other securities 5,506 200 - 5,706 0.25 % Total available-for-sale $ 2,255,874 $ 23,264 $ (8,672 ) $ 2,270,466 100.00 % Investment securities held-to-maturity: Government agency/GSE $ 182,648 $ 362 $ (1,972 ) $ 181,038 20.03 % Residential mortgage-backed securities 193,699 - (1,892 ) 191,807 21.25 % CMO 244,419 - (6,808 ) 237,611 26.81 % Municipal bonds 290,910 776 (4,768 ) 286,918 31.91 % Total held-to-maturity $ 911,676 $ 1,138 $ (15,440 ) $ 897,374 100.00 % |
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 Ended 2017 2016 (Dollars in thousands) Investment securities available-for-sale: Taxable $ 11,926 $ 11,380 Tax-advantaged 714 1,419 Total interest income from available-for-sale 12,640 12,799 Investment securities held-to-maturity: Taxable 3,277 2,620 Tax-advantaged 2,230 2,728 Total interest income from held-to-maturity 5,507 5,348 Total interest income from investment securities $ 18,147 $ 18,147 |
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, 2017 and December 31, 2016. Management has reviewed individual securities to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. The unrealized losses on these securities were primarily attributed to changes in interest rates. The issuers of these securities have not, to our knowledge, evidenced any cause for default on these securities. These securities have fluctuated in value since their purchase dates as market rates have fluctuated. However, we have the ability and the intention to hold these securities until their fair values recover to cost or maturity. As such, management does not deem these securities to be Other-Than-Temporarily-Impaired (“OTTI”). March 31, 2017 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/GSE $ - $ - $ - $ - $ - $ - Residential mortgage-backed securities 498,198 (5,685 ) - - 498,198 (5,685 ) CMO/REMIC - residential 97,275 (1,242 ) - - 97,275 (1,242 ) Municipal bonds 23,231 (880 ) 5,986 (1 ) 29,217 (881 ) Total available-for-sale $ 618,704 $ (7,807 ) $ 5,986 $ (1 ) $ 624,690 $ (7,808 ) Investment securities held-to-maturity: Government agency/GSE $ 46,205 $ (1,620 ) $ - $ - $ 46,205 $ (1,620 ) Residential mortgage-backed securities 184,952 (1,528 ) - - 184,952 (1,528 ) CMO 230,834 (7,563 ) - - 230,834 (7,563 ) Municipal bonds 110,334 (3,491 ) 33,200 (1,061 ) 143,534 (4,552 ) Total held-to-maturity $ 572,325 $ (14,202 ) $ 33,200 $ (1,061 ) $ 605,525 $ (15,263 ) December 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/GSE $ - $ - $ - $ - $ - $ - Residential mortgage-backed securities 583,143 (6,232 ) - - 583,143 (6,232 ) CMO/REMIC - residential 128,595 (1,485 ) - - 128,595 (1,485 ) Municipal bonds 23,255 (954 ) 5,981 (1 ) 29,236 (955 ) Total available-for-sale $ 734,993 $ (8,671 ) $ 5,981 $ (1 ) $ 740,974 $ (8,672 ) Investment securities held-to-maturity: Government agency/GSE $ 76,854 $ (1,972 ) $ - $ - $ 76,854 $ (1,972 ) Residential mortgage-backed securities 191,807 (1,892 ) - - 191,807 (1,892 ) CMO 237,611 (6,808 ) - - 237,611 (6,808 ) Municipal bonds 145,804 (3,711 ) 36,971 (1,057 ) 182,775 (4,768 ) Total held-to-maturity $ 652,076 $ (14,383 ) $ 36,971 $ (1,057 ) $ 689,047 $ (15,440 ) |
Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | Mortgage-backed and CMO/REMIC securities are included in maturity categories based upon estimated average lives which incorporate estimated prepayment speeds. March 31, 2017 Avaliable-for-sale Held-to-maturity Amortized Fair Amortized Fair Cost Value Cost Value (Dollars in thousands) Due in one year or less $ 22,498 $ 22,719 $ 424 $ 424 Due after one year through five years 1,848,800 1,867,464 165,814 162,958 Due after five years through ten years 327,338 323,905 312,610 308,128 Due after ten years 57,268 57,615 406,209 400,245 Total investment securities $ 2,255,904 $ 2,271,703 $ 885,057 $ 871,755 |
Acquired SJB Assets and FDIC 23
Acquired SJB Assets and FDIC Loss Sharing Asset (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 by internal risk ratings (credit quality indicators) for the periods indicated. March 31, 2017 December 31, 2016 (Dollars in thousands) Commercial and industrial $ 1,911 $ 2,309 SBA 1,575 327 Real estate: Commercial real estate 52,293 67,594 Construction - - SFR mortgage 175 178 Dairy & livestock and agribusiness 460 1,216 Municipal lease finance receivables - - Consumer and other loans 1,371 1,469 Gross PCI loans 57,785 73,093 Less: Purchase accounting discount (1,258 ) (1,508 ) Gross PCI loans, net of discount 56,527 71,585 Less: Allowance for PCI loan losses (725 ) (1,219 ) Net PCI loans $ 55,802 $ 70,366 |
Summary of Gross PCI Loans by Internal Risk Ratings by Loans | The following table summarizes gross PCI loans by internal risk ratings for the periods indicated. March 31, 2017 December 31, 2016 (Dollars in thousands) Pass $ 45,205 $ 59,409 Special mention 383 1,162 Substandard 12,197 12,522 Doubtful & loss - - Total gross PCI loans $ 57,785 $ 73,093 |
Loans and Lease Finance Recei24
Loans and Lease Finance Receivables and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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, 2017 December 31, 2016 (Dollars in thousands) Commercial and industrial $ 528,945 $ 485,078 SBA 112,690 97,184 Real estate: Commercial real estate 3,219,299 2,930,141 Construction 72,782 85,879 SFR mortgage 245,362 250,605 Dairy & livestock and agribusiness 244,264 338,631 Municipal lease finance receivables 62,416 64,639 Consumer and other loans 80,163 78,274 Gross loans, excluding PCI loans 4,565,921 4,330,431 Less: Deferred loan fees, net (6,951 ) (6,952 ) Gross loans, excluding PCI loans, net of deferred loan fees 4,558,970 4,323,479 Less: Allowance for loan losses (58,487 ) (60,321 ) Net loans, excluding PCI loans 4,500,483 4,263,158 PCI Loans 57,785 73,093 Discount on PCI loans (1,258 ) (1,508 ) Less: Allowance for loan losses (725 ) (1,219 ) PCI loans, net 55,802 70,366 Total loans and lease finance receivables $ 4,556,285 $ 4,333,524 |
Summary of Loan, Excluding PCI Loans by Internal Risk Ratings | The following table summarizes loans by type, excluding PCI loans, according to our internal risk ratings for the periods presented. March 31, 2017 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 491,534 $ 25,393 $ 12,018 $ - $ 528,945 SBA 97,795 10,098 4,788 9 112,690 Real estate: Commercial real estate Owner occupied 939,031 85,700 22,700 - 1,047,431 Non-owner 2,132,104 22,541 17,223 - 2,171,868 Construction Speculative 53,305 - 384 - 53,689 Non-speculative 19,093 - - - 19,093 SFR mortgage 239,390 4,989 983 - 245,362 Dairy & livestock and agribusiness 137,440 75,054 31,770 - 244,264 Municipal lease finance receivables 58,088 4,328 - - 62,416 Consumer and other loans 75,864 2,198 2,098 3 80,163 Total gross loans, excluding PCI loans $ 4,243,644 $ 230,301 $ 91,964 $ 12 $ 4,565,921 December 31, 2016 Pass Special Substandard Doubtful & Total (Dollars in thousands) Commercial and industrial $ 449,658 $ 21,610 $ 13,809 $ 1 $ 485,078 SBA 80,138 10,553 6,482 11 97,184 Real estate: Commercial real estate Owner occupied 842,992 87,781 19,046 - 949,819 Non-owner 1,941,203 23,534 15,585 - 1,980,322 Construction Speculative 48,841 - - - 48,841 Non-speculative 37,038 - - - 37,038 SFR mortgage 243,374 4,930 2,301 - 250,605 Dairy & livestock and agribusiness 187,819 114,106 36,706 - 338,631 Municipal lease finance receivables 60,102 4,537 - - 64,639 Consumer and other loans 74,328 2,123 1,819 4 78,274 Total gross loans, excluding PCI loans $ 3,965,493 $ 269,174 $ 95,748 $ 16 $ 4,330,431 |
Schedule of Balance and Activity Related to Allowance for Loan Losses for Held-for-Investment Loans by Type | The following tables present the balance and activity related to the allowance for loan losses for held-for-investment For the Three Months Ended March 31, 2017 Ending Balance December 31, Charge-offs Recoveries (Recapture of) Provision for Loan Losses Ending Balance March 31, 2017 (Dollars in thousands) Commercial and industrial $ 8,154 $ - $ 52 $ (250 ) $ 7,956 SBA 871 - 4 (4 ) 871 Real estate: Commercial real estate 37,443 - - 1,543 38,986 Construction 1,096 - 2,025 (2,301 ) 820 SFR mortgage 2,287 - 64 (165 ) 2,186 Dairy & livestock and agribusiness 8,541 - - (2,699 ) 5,842 Municipal lease finance receivables 941 - - (52 ) 889 Consumer and other loans 988 (2 ) 29 (78 ) 937 PCI loans 1,219 - - (494 ) 725 Total allowance for loan losses $ 61,540 $ (2 ) $ 2,174 $ (4,500 ) $ 59,212 For the Three Months Ended March 31, 2016 Ending Balance December 31, Charge-offs Recoveries (Recapture of) Provision for Loan Losses Ending Balance March 31, 2016 (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 PCI loans - - - - - Total allowance for loan losses $ 59,156 $ (163 ) $ 343 $ - $ 59,336 |
Schedule of Recorded Investment in Loans Held-for-Investment and Related Allowance for Loan Losses by Loan Type | The following tables present the recorded investment in loans held-for-investment March 31, 2017 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Acquired with Deterioriated Credit Quality Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired with Deterioriated Credit Quality (Dollars in thousands) Commercial and industrial $ 1,150 $ 527,795 $ - $ 88 $ 7,868 $ - SBA 1,926 110,764 - 9 862 - Real estate: Commercial real estate 20,216 3,199,083 - - 38,986 - Construction 384 72,398 - - 820 - SFR mortgage 4,248 241,114 - - 2,186 - Dairy & livestock and agribusiness 1,324 242,940 - - 5,842 - Municipal lease finance receivables - 62,416 - - 889 - Consumer and other loans 801 79,362 - - 937 - PCI loans - - 56,527 - - 725 Total $ 30,049 $ 4,535,872 $ 56,527 $ 97 $ 58,390 $ 725 March 31, 2016 Recorded Investment in Loans Allowance for Loan Losses Individually Collectively Acquired with Deterioriated Credit Quality Individually Evaluated for Impairment Collectively Evaluated for Impairment Acquired with Deterioriated Credit Quality (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 - PCI loans - - 81,850 - - - Total $ 55,465 $ 4,043,842 $ 81,850 $ 694 $ 58,642 $ - |
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, 2017 30-59 Days Past Due 60-89 Days Past Due Total Past Due and Accruing Nonaccrual (1) Current Total Loans and Financing Receivables (Dollars in thousands) Commercial and industrial $ 42 $ 177 $ 219 $ 506 $ 528,220 $ 528,945 SBA 328 1 329 1,089 111,272 112,690 Real estate: Commercial real estate Owner occupied - - - 2,374 1,045,057 1,047,431 Non-owner - - - 3,249 2,168,619 2,171,868 Construction Speculative (2) - - - 384 53,305 53,689 Non-speculative - - - - 19,093 19,093 SFR mortgage 403 - 403 983 243,976 245,362 Dairy & livestock and agribusiness - - - 1,324 242,940 244,264 Municipal lease finance receivables - - - - 62,416 62,416 Consumer and other loans 30 399 429 438 79,296 80,163 Total gross loans, excluding PCI Loans $ 803 $ 577 $ 1,380 $ 10,347 $ 4,554,194 $ 4,565,921 (1) As of March 31, 2017, $6.2 million of nonaccruing loans were current, $2.2 million were 30-59 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. December 31, 2016 30-59 Days Past Due 60-89 Days Past Due Total Past Due and Accruing Nonaccrual (1) Current Total Loans and Financing Receivables (Dollars in thousands) Commercial and industrial $ - $ - $ - $ 156 $ 484,922 $ 485,078 SBA 352 - 352 2,737 94,095 97,184 Real estate: Commercial real estate Owner occupied - - - 635 949,184 949,819 Non-owner - - - 1,048 1,979,274 1,980,322 Construction Speculative (2) - - - - 48,841 48,841 Non-speculative - - - - 37,038 37,038 SFR mortgage - - - 2,207 248,398 250,605 Dairy & livestock and agribusiness - - - - 338,631 338,631 Municipal lease finance receivables - - - - 64,639 64,639 Consumer and other loans 84 - 84 369 77,821 78,274 Total gross loans, excluding PCI Loans $ 436 $ - $ 436 $ 7,152 $ 4,322,843 $ 4,330,431 (1) As of December 31, 2016, $4.7 million of nonaccruing loans were current, $514,000 were 30-59 60-89 (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 As of and For the Three Months Ended Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 1,015 $ 1,985 $ - $ 1,045 $ 6 SBA 1,917 2,272 - 1,960 16 Real estate: Commercial real estate Owner occupied 6,669 7,081 - 6,434 32 Non-owner 13,547 16,198 - 13,479 401 Construction Speculative 384 402 - 384 - Non-speculative - - - - - SFR mortgage 4,248 5,024 - 4,259 34 Dairy & livestock and agribusiness 1,324 1,610 - 1,839 1 Municipal lease finance receivables - - - - - Consumer and other loans 801 1,379 - 809 5 Total 29,905 35,951 - 30,209 495 With a related allowance recorded: Commercial and industrial 135 136 88 152 2 SBA 9 25 9 10 - Real estate: Commercial real estate Owner occupied - - - - - Non-owner - - - - - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans - - - - - Total 144 161 97 162 2 Total impaired loans $ 30,049 $ 36,112 $ 97 $ 30,371 $ 497 As of and For the Three Months Ended Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (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 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 - - - - - 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 December 31, 2016 Recorded Investment Unpaid Principal Balance Related Allowance (Dollars in thousands) With no related allowance recorded Commercial and industrial $ 730 $ 1,646 $ - SBA 3,386 4,189 - Real estate: Commercial real estate Owner occupied 1,797 2,276 - Non-owner 13,331 15,842 - Construction Speculative - - - Non-speculative - - - SFR mortgage 5,174 6,075 - Dairy & livestock and agribusiness 747 747 - Municipal lease finance receivables - - - Consumer and other loans 853 1,423 - Total 26,018 32,198 - With a related allowance recorded Commercial and industrial 171 171 114 SBA 196 212 27 Real estate: Commercial real estate Owner occupied - - - Non-owner - - - Construction Speculative - - - Non-speculative - - - SFR mortgage - - - Dairy & livestock and agribusiness - - - Municipal lease finance receivables - - - Consumer and other loans - - - Total 367 383 141 Total impaired loans $ 26,385 $ 32,581 $ 141 |
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 March 31, 2017 2016 (Dollars in thousands) Performing TDRs: Beginning balance $ 19,233 $ 42,687 New modifications 3,143 1,006 Payoffs and payments, net (3,003 ) (6,372 ) TDRs returned to accrual status 329 - TDRs placed on nonaccrual status - - Ending balance $ 19,702 $ 37,321 Nonperforming TDRs: Beginning balance $ 1,626 $ 12,622 New modifications 2,066 82 Charge-offs - (38 ) Payoffs and payments, net (1,956 ) (306 ) TDRs returned to accrual status (329 ) - TDRs placed on nonaccrual status - - Ending balance $ 1,407 $ 12,360 Total TDRs $ 21,109 $ 49,681 |
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, 2017 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Outstanding Recorded Investment at March 31, 2017 Financial Effect Resulting From Modifications (2) (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - 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 1 3,143 3,143 3,143 - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Dairy & livestock and agribusiness: Interest rate reduction - - - - - Change in amortization period or maturity 1 1,984 1,984 78 - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity 1 82 82 80 - Total loans 3 $ 5,209 $ 5,209 $ 3,301 $ - For the Three Months Ended March 31, 2016 Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Outstanding Recorded Investment at March 31, 2016 Financial Effect Resulting From Modifications (2) (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity - - - - - 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 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 (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, 2017 | |
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 Ended March 31, 2017 2016 (In thousands, except per share amounts) Earnings per common share: Net earnings $ 28,504 $ 23,391 Less: Net earnings allocated to restricted stock 112 104 Net earnings allocated to common shareholders $ 28,392 $ 23,287 Weighted average shares outstanding 108,339 106,392 Basic earnings per common share $ 0.26 $ 0.22 Diluted earnings per common share: Net income allocated to common shareholders $ 28,392 $ 23,287 Weighted average shares outstanding 108,339 106,392 Incremental shares from assumed exercise of outstanding options 467 392 Diluted weighted average shares outstanding 108,806 106,784 Diluted earnings per common share $ 0.26 $ 0.22 |
Fair Value Information (Tables)
Fair Value Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Government agency/GSE $ 1,750 $ - $ 1,750 $ - Residential mortgage-backed securities 1,861,753 - 1,861,753 - CMO/REMIC - residential 326,444 - 326,444 - Municipal bonds 75,721 - 75,721 - Other securities 6,035 - 6,035 - Total investment securities - AFS 2,271,703 - 2,271,703 - Interest rate swaps 4,985 - 4,985 - Total assets $ 2,276,688 $ - $ 2,276,688 $ - Description of liability Interest rate swaps $ 4,985 $ - $ 4,985 $ - Total liabilities $ 4,985 $ - $ 4,985 $ - Carrying Value at December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Government agency/GSE $ 2,752 $ - $ 2,752 $ - Residential mortgage-backed securities 1,834,748 - 1,834,748 - CMO/REMIC - residential 347,189 - 347,189 - Municipal bonds 80,071 - 80,071 - Other securities 5,706 - 5,706 - Total investment securities - AFS 2,270,466 - 2,270,466 - Interest rate swaps 5,783 - 5,783 - Total assets $ 2,276,249 $ - $ 2,276,249 $ - Description of liability Interest rate swaps $ 5,783 $ - $ 5,783 $ - Total liabilities $ 5,783 $ - $ 5,783 $ - |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | For assets measured at fair value on a non-recurring Carrying Value at December 31, 2016 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Losses For the Year Ended December 31, 2016 (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ 65 $ - $ - $ 65 $ 8 SBA 196 - - 196 27 Real estate: Commercial real estate - - - - - Construction - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Consumer and other loans - - - - - Other real estate owned - - - - - Asset held-for-sale 3,411 3,411 2,558 Total assets $ 3,672 $ - $ - $ 3,672 $ 2,593 |
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, 2017 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and due from banks $ 118,772 $ 118,772 $ - $ - $ 118,772 Interest-earning balances due from depository institutions and federal funds sold 263,669 - 263,669 - 263,669 FHLB stock 19,640 - 19,640 - 19,640 Investment securities available-for-sale 2,271,703 - 2,271,703 - 2,271,703 Investment securities held-to-maturity 885,057 - 871,755 - 871,755 Total loans, net of allowance for loan losses 4,556,285 - - 4,520,673 4,520,673 Swaps 4,985 - 4,985 - 4,985 Liabilities Deposits: Noninterest-bearing $ 3,999,107 $ 3,999,107 $ - $ - $ 3,999,107 Interest-bearing 2,843,706 - 2,841,739 - 2,841,739 Borrowings 564,387 - 564,147 - 564,147 Junior subordinated debentures 25,774 - - 18,913 18,913 Swaps 4,985 - 4,985 - 4,985 December 31, 2016 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and due from banks $ 119,445 $ 119,445 $ - $ - $ 119,445 Interest-earning balances due from depository institutions 2,188 - 2,188 - 2,188 FHLB stock 17,688 - 17,688 - 17,688 Investment securities available-for-sale 2,270,466 - 2,270,466 - 2,270,466 Investment securities held-to-maturity 911,676 - 897,374 - 897,374 Total loans, net of allowance for loan losses 4,333,524 - - 4,306,225 4,306,225 Swaps 5,783 - 5,783 - 5,783 Liabilities Deposits: Noninterest-bearing $ 3,673,541 $ 3,673,541 $ - $ - $ 3,673,541 Interest-bearing 2,636,139 - 2,634,443 - 2,634,443 Borrowings 656,028 - 655,820 - 655,820 Junior subordinated debentures 25,774 - - 18,463 18,463 Swaps 5,783 - 5,783 - 5,783 |
Business Segments (Tables)
Business Segments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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, 2017 Centers Dairy & livestock and agribusiness Other (1) Total (Dollars in thousands) Net interest income $ 45,578 $ 2,144 $ 17,711 $ 65,433 (Recapture of) provision for loan losses 511 (2,699 ) (2,312 ) (4,500 ) Net interest income after (recapture of) provision for loan losses 45,067 4,843 20,023 69,933 Noninterest income 5,207 55 3,460 8,722 Noninterest expense 12,438 501 21,178 34,117 Segment pre-tax $ 37,836 $ 4,397 $ 2,305 $ 44,538 Goodwill $ 119,193 $ - $ - $ 119,193 Segment assets as of March 31, 2017 $ 7,399,909 $ 363,029 $ 796,183 $ 8,559,121 (1) Includes the elimination of certain items that are included in more than one department, most of which represents products and services for Centers’ customers. For the Three Months Ended March 31, 2016 Centers Dairy & livestock and agribusiness Other (1) Total (Dollars in thousands) Net interest income $ 42,234 $ 1,933 $ 18,349 $ 62,516 (Recapture of) provision for loan losses 2,200 (952 ) (1,248 ) - Net interest income after (recapture of) provision for loan losses 40,034 2,885 19,597 62,516 Noninterest income 4,827 53 3,803 8,683 Noninterest expense 12,610 479 21,275 34,364 Segment pre-tax $ 32,251 $ 2,459 $ 2,125 $ 36,835 Goodwill $ 88,174 $ - $ - $ 88,174 Segment assets as of March 31, 2016 $ 6,586,237 $ 386,804 $ 947,795 $ 7,920,836 (1) Includes the elimination of certain items that are included in more than one department, most of which represents products and services for Centers’ customers. |
Derivative Financial Instrume28
Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Instruments | As of March 31, 2017 and December 31, 2016, the total notional amount of the Company’s swaps was $207.0 million, and $202.7 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below. March 31, 2017 Asset Derivatives Liability Derivatives Balance Sheet Fair Value Balance Sheet Fair Value (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 4,985 Other liabilities $ 4,985 Total derivatives $ 4,985 $ 4,985 December 31, 2016 Asset Derivatives Liability Derivatives Balance Sheet Fair Value Balance Sheet Fair Value (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 5,783 Other liabilities $ 5,783 Total derivatives $ 5,783 $ 5,783 |
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 Amount of Gain Recognized in Income on Derivative Instruments For the Three Months Ended March 31, 2017 2016 (Dollars in thousands) Interest rate swaps Other income $ 323 $ 58 Total $ 323 $ 58 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Summary of Components of Other Comprehensive Income | The table below provides a summary of the components of other comprehensive income (“OCI”) for the periods presented. For the Three Months Ended March 31, 2017 2016 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 $ 1,207 $ 507 $ 700 $ 28,044 $ 11,778 $ 16,266 Cumulative-effect adjustment for unrealized gains on securities transferred from available-for-sale held-to-maturity - - - - - - Amortization of unrealized gains on securities transferred from available-for-sale held-to-maturity (783 ) (329 ) (454 ) (774 ) (325 ) (449 ) Net realized (gain)/loss reclassified into earnings - - - - - - Net Change $ 424 $ 178 $ 246 $ 27,270 $ 11,453 $ 15,817 |
Balance Sheet Offsetting (Table
Balance Sheet Offsetting (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 Net Amount the Condensed Condensed in the Condensed Financial Collateral (Dollars in thousands) March 31, 2017 Financial assets: Derivatives not designated as hedging instruments $ 4,985 $ - $ - $ 4,985 $ - $ 4,985 Total $ 4,985 $ - $ - $ 4,985 $ - $ 4,985 Financial liabilities: Derivatives not designated as hedging instruments $ 6,231 $ (1,246 ) $ 4,985 $ 1,246 $ (12,756 ) $ (6,525 ) Repurchase agreements 564,387 - 564,387 - (674,122 ) (109,735 ) Total $ 570,618 $ (1,246 ) $ 569,372 $ 1,246 $ (686,878 ) $ (116,260 ) December 31, 2016 Financial assets: Derivatives not designated as hedging instruments $ 5,783 $ - $ - $ 5,783 $ - $ 5,783 Total $ 5,783 $ - $ - $ 5,783 $ - $ 5,783 Financial liabilities: Derivatives not designated as hedging instruments $ 6,855 $ (1,072 ) $ 5,783 $ 1,072 $ (12,800 ) $ (5,945 ) Repurchase agreements 603,028 - 603,028 - (683,413 ) (80,385 ) Total $ 609,883 $ (1,072 ) $ 608,811 $ 1,072 $ (696,213 ) $ (86,330 ) |
Business - Additional Informati
Business - Additional Information (Detail) $ in Millions | Mar. 10, 2017USD ($)Branch | Mar. 31, 2017LocationSubsidiary |
Schedule Of Description Of Company [Line Items] | ||
Number of inactive subsidiaries | Subsidiary | 1 | |
Bank operated banking centers, number | 54 | |
Bank operated trust office locations, number | 3 | |
Valley Commerce Bancorp [Member] | ||
Schedule Of Description Of Company [Line Items] | ||
Total assets of acquired/merger company | $ | $ 400 | |
Number of bank branches acquired | Branch | 4 |
Summary of Significant Accoun32
Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Accounting Standards Update 2016-09 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Excess tax benefits recognized in provision for income taxes | $ 1.3 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) | Mar. 10, 2017USD ($)Branch | Feb. 29, 2016USD ($)Branch | Mar. 31, 2017USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($) |
Business Acquisition [Line Items] | |||||
Acquisition date | Oct. 16, 2009 | ||||
Goodwill | $ 119,193,000 | $ 88,174,000 | $ 89,533,000 | ||
Non-recurring merger related expenses | $ 676,000 | 849,000 | |||
Valley Commerce Bancorp [Member] | |||||
Business Acquisition [Line Items] | |||||
Acquisition date | Mar. 10, 2017 | ||||
Acquired assets and assumed liabilities for cash | $ 23,200,000 | ||||
Assets and assumed all of the liabilities, stock | 37,600,000 | ||||
Goodwill | 29,700,000 | ||||
Total fair value of assets acquired | 406,100,000 | ||||
Cash and cash equivalents | 51,500,000 | ||||
FHLB stock | 2,000,000 | ||||
Loans and lease finance receivables | 309,700,000 | ||||
Fixed assets | 5,300,000 | ||||
Bank-Owned Life Insurance | 9,400,000 | ||||
Core deposit intangible assets | 3,200,000 | ||||
Other assets | 18,500,000 | ||||
Total fair value of liabilities assumed | 368,500,000 | ||||
Deposits | 361,800,000 | ||||
Other liabilities | $ 6,700,000 | ||||
Non-recurring merger related expenses | $ 651,000 | ||||
Valley Business Bank [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of branches owned by merger company | Branch | 4 | ||||
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 for cash | $ 20,600,000 | ||||
Assets and assumed all of the liabilities, stock | 21,600,000 | ||||
Goodwill | 15,300,000 | ||||
Total fair value of assets acquired | 252,400,000 | ||||
Cash and cash equivalents | 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 | 289,000 | ||||
Total fair value of liabilities assumed | 230,800,000 | ||||
Deposits | 224,200,000 | ||||
Other liabilities | 1,600,000 | ||||
Non-recurring merger related expenses | $ 849,000 | ||||
FHLB advances | $ 5,000,000 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 2,255,904 | $ 2,255,874 |
Gross Unrealized Holding Gain, Available-for-sale | 23,607 | 23,264 |
Gross Unrealized Holding Loss, Available-for-sale | (7,808) | (8,672) |
Fair Value, Available-for-sale | $ 2,271,703 | $ 2,270,466 |
Total Percent, Available-for-sale | 100.00% | 100.00% |
Amortized Cost, Held-to-maturity | $ 885,057 | $ 911,676 |
Gross Unrealized Holding Gain, Held-to-maturity | 1,961 | 1,138 |
Gross Unrealized Holding Loss, Held-to-maturity | (15,263) | (15,440) |
Fair Value, Held-to-maturity | $ 871,755 | $ 897,374 |
Total Percent, Held-to-maturity | 100.00% | 100.00% |
CMO/REMIC - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 324,283 | $ 345,313 |
Gross Unrealized Holding Gain, Available-for-sale | 3,403 | 3,361 |
Gross Unrealized Holding Loss, Available-for-sale | (1,242) | (1,485) |
Fair Value, Available-for-sale | $ 326,444 | $ 347,189 |
Total Percent, Available-for-sale | 14.37% | 15.29% |
Amortized Cost, Held-to-maturity | $ 238,397 | $ 244,419 |
Gross Unrealized Holding Gain, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Loss, Held-to-maturity | (7,563) | (6,808) |
Fair Value, Held-to-maturity | $ 230,834 | $ 237,611 |
Total Percent, Held-to-maturity | 26.93% | 26.81% |
Government Agency/GSE [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 1,749 | $ 2,750 |
Gross Unrealized Holding Gain, Available-for-sale | 1 | 2 |
Gross Unrealized Holding Loss, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | $ 1,750 | $ 2,752 |
Total Percent, Available-for-sale | 0.08% | 0.12% |
Amortized Cost, Held-to-maturity | $ 176,281 | $ 182,648 |
Gross Unrealized Holding Gain, Held-to-maturity | 751 | 362 |
Gross Unrealized Holding Loss, Held-to-maturity | (1,620) | (1,972) |
Fair Value, Held-to-maturity | $ 175,412 | $ 181,038 |
Total Percent, Held-to-maturity | 19.92% | 20.03% |
Residential Mortgage-backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 1,848,307 | $ 1,822,168 |
Gross Unrealized Holding Gain, Available-for-sale | 19,131 | 18,812 |
Gross Unrealized Holding Loss, Available-for-sale | (5,685) | (6,232) |
Fair Value, Available-for-sale | $ 1,861,753 | $ 1,834,748 |
Total Percent, Available-for-sale | 81.95% | 80.81% |
Amortized Cost, Held-to-maturity | $ 186,480 | $ 193,699 |
Gross Unrealized Holding Gain, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Loss, Held-to-maturity | (1,528) | (1,892) |
Fair Value, Held-to-maturity | $ 184,952 | $ 191,807 |
Total Percent, Held-to-maturity | 21.07% | 21.25% |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 75,886 | $ 80,137 |
Gross Unrealized Holding Gain, Available-for-sale | 716 | 889 |
Gross Unrealized Holding Loss, Available-for-sale | (881) | (955) |
Fair Value, Available-for-sale | $ 75,721 | $ 80,071 |
Total Percent, Available-for-sale | 3.33% | 3.53% |
Amortized Cost, Held-to-maturity | $ 283,899 | $ 290,910 |
Gross Unrealized Holding Gain, Held-to-maturity | 1,210 | 776 |
Gross Unrealized Holding Loss, Held-to-maturity | (4,552) | (4,768) |
Fair Value, Held-to-maturity | $ 280,557 | $ 286,918 |
Total Percent, Held-to-maturity | 32.08% | 31.91% |
Other Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 5,679 | $ 5,506 |
Gross Unrealized Holding Gain, Available-for-sale | 356 | 200 |
Gross Unrealized Holding Loss, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | $ 6,035 | $ 5,706 |
Total Percent, Available-for-sale | 0.27% | 0.25% |
Investment Securities - Summa35
Investment Securities - Summary of Interest Income Earned on Investment Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net Investment Income [Line Items] | ||
Total interest income from available-for-sale securities | $ 12,640 | $ 12,799 |
Total interest income from held-to-maturity securities | 5,507 | 5,348 |
Total investment income | 18,147 | 18,147 |
Investment securities available-for-sale [Member] | ||
Net Investment Income [Line Items] | ||
Taxable | 11,926 | 11,380 |
Tax-advantaged | 714 | 1,419 |
Investment securities held-to-maturity [Member] | ||
Net Investment Income [Line Items] | ||
Taxable | 3,277 | 2,620 |
Tax-advantaged | $ 2,230 | $ 2,728 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Investment securities pledged as collateral | $ 2,150,000,000 | $ 2,190,000,000 |
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 | 88.00% | |
CMO/REMIC - Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
CMOs backed by whole loans issued by private-label companies (non-government sponsored) | $ 5,000 |
Investment Securities - Summa37
Investment Securities - Summary of Continuous Unrealized Loss Position of Securities (Detail) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | $ 734,993,000 | |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (8,671,000) | |
Fair Value, 12 Months or Longer, Available-for-sale | 5,981,000 | |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (1,000) | |
Fair Value, Available-for-sale | 740,974,000 | |
Gross Unrealized Holding Losses, Available-for-sale | (8,672,000) | |
Fair Value, Less Than 12 Months, Held-to-maturity | $ 572,325,000 | 652,076 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (14,202,000) | (14,383) |
Fair Value, 12 Months or Longer, Held-to-maturity | 33,200,000 | 36,971 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (1,061,000) | (1,057) |
Fair Value, Held-to-maturity | 605,525,000 | 689,047 |
Gross Unrealized Holding Losses, Held-to-maturity | (15,263,000) | (15,440) |
CMO/REMIC - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 97,275,000 | 128,595,000 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (1,242,000) | (1,485,000) |
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 | 97,275,000 | 128,595,000 |
Gross Unrealized Holding Losses, Available-for-sale | (1,242,000) | (1,485,000) |
Fair Value, Less Than 12 Months, Held-to-maturity | 230,834,000 | 237,611 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (7,563,000) | (6,808) |
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 | 230,834,000 | 237,611 |
Gross Unrealized Holding Losses, Held-to-maturity | (7,563,000) | (6,808) |
Government Agency/GSE [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 | 46,205,000 | 76,854 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (1,620,000) | (1,972) |
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 | 46,205,000 | 76,854 |
Gross Unrealized Holding Losses, Held-to-maturity | (1,620,000) | (1,972) |
Residential Mortgage-backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 498,198,000 | 583,143,000 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (5,685,000) | (6,232,000) |
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 | 498,198,000 | 583,143,000 |
Gross Unrealized Holding Losses, Available-for-sale | (5,685,000) | (6,232,000) |
Fair Value, Less Than 12 Months, Held-to-maturity | 184,952,000 | 191,807 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (1,528,000) | (1,892) |
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 | 184,952,000 | 191,807 |
Gross Unrealized Holding Losses, Held-to-maturity | (1,528,000) | (1,892) |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 23,231,000 | 23,255,000 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (880,000) | (954,000) |
Fair Value, 12 Months or Longer, Available-for-sale | 5,986,000 | 5,981,000 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (1,000) | (1,000) |
Fair Value, Available-for-sale | 29,217,000 | 29,236,000 |
Gross Unrealized Holding Losses, Available-for-sale | (881,000) | (955,000) |
Fair Value, Less Than 12 Months, Held-to-maturity | 110,334,000 | 145,804 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (3,491,000) | (3,711) |
Fair Value, 12 Months or Longer, Held-to-maturity | 33,200,000 | 36,971 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (1,061,000) | (1,057) |
Fair Value, Held-to-maturity | 143,534,000 | 182,775 |
Gross Unrealized Holding Losses, Held-to-maturity | (4,552,000) | $ (4,768) |
Other Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 618,704,000 | |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | (7,807,000) | |
Fair Value, 12 Months or Longer, Available-for-sale | 5,986,000 | |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (1,000) | |
Fair Value, Available-for-sale | 624,690,000 | |
Gross Unrealized Holding Losses, Available-for-sale | $ (7,808,000) |
Investment Securities - Summa38
Investment Securities - Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost, Held-to-maturity | $ 424 | |
Due after one year through five years, Amortized Cost, Held-to-maturity | 165,814 | |
Due after five years through ten years, Amortized Cost, Held-to-maturity | 312,610 | |
Due after ten years, Amortized Cost, Held-to-maturity | 406,209 | |
Total Held-to-maturity, Debt Maturities, Amortized Cost Basis | 885,057 | |
Due in one year or less, Fair Value, Held-to-maturity | 424 | |
Due after one year through five years, Fair Value, Held-to-maturity | 162,958 | |
Due after five years through ten years, Fair Value, Held-to-maturity | 308,128 | |
Due after ten years, Fair Value, Held-to-maturity | 400,245 | |
Total, Held-to-maturity, Fair Value | 871,755 | |
Due in one year or less, Amortized Cost, Available-for-sale | 22,498 | |
Due after one year through five years, Amortized Cost, Available-for-sale | 1,848,800 | |
Due after five years through ten years, Amortized Cost, Available-for-sale | 327,338 | |
Due after ten years, Amortized Cost, Available-for-sale | 57,268 | |
Amortized Cost, Available-for-sale | 2,255,904 | $ 2,255,874 |
Due in one year or less, Fair Value, Available-for-sale | 22,719 | |
Due after one year through five years, Fair Value, Available-for-sale | 1,867,464 | |
Due after five years through ten years, Fair Value, Available-for-sale | 323,905 | |
Due after ten years, Fair Value, Available-for-sale | 57,615 | |
Total Available-for-sale Securities, Debt Maturities, Available-for-sale, Fair Value | $ 2,271,703 | $ 2,270,466 |
Acquired SJB Assets and FDIC 39
Acquired SJB Assets and FDIC Loss Sharing Asset - Additional Information (Detail) $ in Millions | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Business Combinations [Abstract] | |
Acquisition date | Oct. 16, 2009 |
Remaining discount associated with SJB loans | $ 1.3 |
Acquired SJB Assets and FDIC 40
Acquired SJB Assets and FDIC Loss Sharing Asset - Summary of PCI Loans and Lease Finance Receivables (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 |
Real estate: | |||
Less: Purchase accounting discount | $ (1,300) | ||
Gross PCI loans, net of discount | 56,527 | $ 81,850 | |
Less: Allowance for PCI loan losses | (725) | 0 | |
PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial and industrial | 1,911 | $ 2,309 | |
SBA | 1,575 | 327 | |
Real estate: | |||
Commercial real estate | 52,293 | 67,594 | |
Construction | 0 | 0 | |
SFR mortgage | 175 | 178 | |
Dairy & livestock and agribusiness | 460 | 1,216 | |
Municipal lease finance receivables | 0 | 0 | |
Consumer and other loans | 1,371 | 1,469 | |
Gross PCI loans | 57,785 | 73,093 | |
Less: Purchase accounting discount | (1,258) | (1,508) | |
Gross PCI loans, net of discount | 56,527 | 71,585 | 81,850 |
Less: Allowance for PCI loan losses | (725) | (1,219) | $ 0 |
Net loans | $ 55,802 | $ 70,366 |
Acquired SJB Assets and FDIC 41
Acquired SJB Assets and FDIC Loss Sharing Asset - Summary of Gross PCI Loans by Internal Risk Ratings by Loans (Detail) - PCI Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | $ 57,785 | $ 73,093 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | 45,205 | 59,409 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | 383 | 1,162 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | 12,197 | 12,522 |
Doubtful & Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total gross PCI loans | $ 0 | $ 0 |
Loans and Lease Finance Recei42
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, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans, excluding PCI loans, net of deferred loan fees | $ 4,615,497 | $ 4,395,064 | ||
Less: Allowance for loan losses | (59,212) | (61,540) | $ (59,336) | $ (59,156) |
Total loans and lease finance receivables | 4,556,285 | 4,333,524 | ||
PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Commercial and industrial | 1,911 | 2,309 | ||
PCI Loans | 57,785 | 73,093 | ||
SBA | 1,575 | 327 | ||
Discount on PCI loans | (1,258) | (1,508) | ||
Commercial real estate | 52,293 | 67,594 | ||
Construction | 0 | 0 | ||
SFR mortgage | 175 | 178 | ||
Dairy & livestock and agribusiness | 460 | 1,216 | ||
Municipal lease finance receivables | 0 | 0 | ||
Consumer and other loans | 1,371 | 1,469 | ||
Less: Allowance for loan losses | (725) | (1,219) | $ 0 | $ 0 |
Net loans | 55,802 | 70,366 | ||
Loans, Excluding PCI Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Commercial and industrial | 528,945 | 485,078 | ||
SBA | 112,690 | 97,184 | ||
Commercial real estate | 3,219,299 | 2,930,141 | ||
Construction | 72,782 | 85,879 | ||
SFR mortgage | 245,362 | 250,605 | ||
Dairy & livestock and agribusiness | 244,264 | 338,631 | ||
Municipal lease finance receivables | 62,416 | 64,639 | ||
Consumer and other loans | 80,163 | 78,274 | ||
Total gross loans, excluding PCI loans | 4,565,921 | 4,330,431 | ||
Less: Deferred loan fees, net | (6,951) | (6,952) | ||
Gross loans, excluding PCI loans, net of deferred loan fees | 4,558,970 | 4,323,479 | ||
Less: Allowance for loan losses | (58,487) | (60,321) | ||
Net loans | $ 4,500,483 | $ 4,263,158 |
Loans and Lease Finance Recei43
Loans and Lease Finance Receivables and Allowance for Loan Losses - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2017USD ($)SecurityLoan | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total fixed rate loans held | $ 2,070,000,000 | ||
Secure borrowings and available lines of credit from FHLB and Federal Reserve Bank | 3,120,000,000 | $ 3,110,000,000 | |
Loans held-for-sale | 0 | 0 | |
Impaired, at carrying value | 30,049,000 | $ 55,465,000 | 26,385,000 |
Loans classified as troubled debt restructured | 21,100,000 | ||
Impaired, at carrying value | 97,000 | 694,000 | 141,000 |
Provision for unfunded loan commitments | 0 | 0 | |
Reserve for credit risk for undisbursed commitments | 6,700,000 | $ 6,700,000 | |
Allocation of allowance to troubled debt restructuring | 97,000 | 141,000 | |
Valley Business Bank [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired, at carrying value | $ 6,400,000 | ||
Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of total gross loan portfolio (excluding PCI loans) | 77.47% | ||
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of total gross loan portfolio (excluding PCI loans) | 70.51% | ||
Outstanding balance | $ 384,000 | ||
Dairy & Livestock and Agribusiness [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 1,300,000 | ||
Nonaccrual Small Business Administration Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 1,100,000 | ||
Impaired Loans Modified in Troubled Debt Restructure [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired, at carrying value | 21,100,000 | ||
Nonaccrual Single Family Mortgage Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 983,000 | ||
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 5,600,000 | ||
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 438,000 | ||
Performing Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 19,700,000 | ||
Number of performing loans | SecurityLoan | 25 | ||
Performing Financing Receivable [Member] | Commercial Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | $ 14,600,000 | ||
Number of loans | SecurityLoan | 6 | ||
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 | $ 644,000 | ||
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 | $ 837,000 | ||
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 | $ 363,000 | ||
Number of loans | SecurityLoan | 1 | ||
Nonperforming Financing Receivable [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Impaired, at carrying value | $ 1,400,000 | ||
Loans classified as troubled debt restructured | 1,400,000 | ||
Allowance Impaired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans classified as troubled debt restructured | 97,000 | ||
Loans, Excluding PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Commercial real estate loans | 3,219,299,000 | 2,930,141,000 | |
Dairy & livestock and agribusiness | 244,264,000 | 338,631,000 | |
Outstanding balance | 10,347,000 | 7,152,000 | |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Dairy & livestock and agribusiness | 216,300,000 | 317,900,000 | |
Loans, Excluding PCI Loans [Member] | Agribusiness Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Dairy & livestock and agribusiness | 28,000,000 | 20,700,000 | |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 1,324,000 | 0 | |
Loans, Excluding PCI Loans [Member] | Nonaccrual Commercial and Industrial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 506,000 | ||
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 506,000 | 156,000 | |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | 1,089,000 | 2,737,000 | |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Outstanding balance | $ 438,000 | $ 369,000 | |
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) | 5.12% | 6.16% | |
Commercial real estate loans | $ 164,900,000 | $ 180,600,000 | |
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 | 111,600,000 | 127,100,000 | |
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 | $ 53,300,000 | $ 53,600,000 |
Loans and Lease Finance Recei44
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, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | $ 528,945 | $ 485,078 |
SBA | 112,690 | 97,184 |
Commercial real estate, Owner occupied | 1,047,431 | 949,819 |
Commercial real estate, Non-owner occupied | 2,171,868 | 1,980,322 |
Construction, Speculative | 53,689 | 48,841 |
Construction, Non-speculative | 19,093 | 37,038 |
SFR mortgage | 245,362 | 250,605 |
Dairy & livestock and agribusiness | 244,264 | 338,631 |
Municipal lease finance receivables | 62,416 | 64,639 |
Consumer and other loans | 80,163 | 78,274 |
Total gross loans, excluding PCI loans | 4,565,921 | 4,330,431 |
Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 491,534 | 449,658 |
SBA | 97,795 | 80,138 |
Commercial real estate, Owner occupied | 939,031 | 842,992 |
Commercial real estate, Non-owner occupied | 2,132,104 | 1,941,203 |
Construction, Speculative | 53,305 | 48,841 |
Construction, Non-speculative | 19,093 | 37,038 |
SFR mortgage | 239,390 | 243,374 |
Dairy & livestock and agribusiness | 137,440 | 187,819 |
Municipal lease finance receivables | 58,088 | 60,102 |
Consumer and other loans | 75,864 | 74,328 |
Total gross loans, excluding PCI loans | 4,243,644 | 3,965,493 |
Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 25,393 | 21,610 |
SBA | 10,098 | 10,553 |
Commercial real estate, Owner occupied | 85,700 | 87,781 |
Commercial real estate, Non-owner occupied | 22,541 | 23,534 |
Construction, Speculative | 0 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 4,989 | 4,930 |
Dairy & livestock and agribusiness | 75,054 | 114,106 |
Municipal lease finance receivables | 4,328 | 4,537 |
Consumer and other loans | 2,198 | 2,123 |
Total gross loans, excluding PCI loans | 230,301 | 269,174 |
Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 12,018 | 13,809 |
SBA | 4,788 | 6,482 |
Commercial real estate, Owner occupied | 22,700 | 19,046 |
Commercial real estate, Non-owner occupied | 17,223 | 15,585 |
Construction, Speculative | 384 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 983 | 2,301 |
Dairy & livestock and agribusiness | 31,770 | 36,706 |
Municipal lease finance receivables | 0 | 0 |
Consumer and other loans | 2,098 | 1,819 |
Total gross loans, excluding PCI loans | 91,964 | 95,748 |
Doubtful & Loss [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 0 | 1 |
SBA | 9 | 11 |
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 | 3 | 4 |
Total gross loans, excluding PCI loans | $ 12 | $ 16 |
Loans and Lease Finance Recei45
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 by Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | $ 61,540 | $ 59,156 |
Charge-offs | (2) | (163) |
Recoveries | 2,174 | 343 |
(Recapture of) provision for loan losses | (4,500) | 0 |
Ending Balance | 59,212 | 59,336 |
PCI Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,219 | 0 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
(Recapture of) provision for loan losses | (494) | 0 |
Ending Balance | 725 | 0 |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 8,154 | 8,588 |
Charge-offs | 0 | (61) |
Recoveries | 52 | 63 |
(Recapture of) provision for loan losses | (250) | 141 |
Ending Balance | 7,956 | 8,731 |
Small Business Administration [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 871 | 993 |
Charge-offs | 0 | 0 |
Recoveries | 4 | 1 |
(Recapture of) provision for loan losses | (4) | 242 |
Ending Balance | 871 | 1,236 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 37,443 | 36,995 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 139 |
(Recapture of) provision for loan losses | 1,543 | 1,152 |
Ending Balance | 38,986 | 38,286 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 1,096 | 2,389 |
Charge-offs | 0 | 0 |
Recoveries | 2,025 | 9 |
(Recapture of) provision for loan losses | (2,301) | (1,247) |
Ending Balance | 820 | 1,151 |
SFR Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 2,287 | 2,103 |
Charge-offs | 0 | (102) |
Recoveries | 64 | 0 |
(Recapture of) provision for loan losses | (165) | 201 |
Ending Balance | 2,186 | 2,202 |
Dairy & Livestock and Agribusiness [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 8,541 | 6,029 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 99 |
(Recapture of) provision for loan losses | (2,699) | (952) |
Ending Balance | 5,842 | 5,176 |
Municipal Lease Finance Receivables [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 941 | 1,153 |
Charge-offs | 0 | 0 |
Recoveries | 0 | 0 |
(Recapture of) provision for loan losses | (52) | 12 |
Ending Balance | 889 | 1,165 |
Consumer and Other Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Beginning Balance | 988 | 906 |
Charge-offs | (2) | 0 |
Recoveries | 29 | 32 |
(Recapture of) provision for loan losses | (78) | 451 |
Ending Balance | $ 937 | $ 1,389 |
Loans and Lease Finance Recei46
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in Loans Held-for-Investment and Related Allowance for Loan Losses by Loan Type (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | $ 30,049 | $ 55,465 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 4,535,872 | 4,043,842 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 56,527 | 81,850 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 97 | 694 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 58,390 | 58,642 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 725 | 0 | |
PCI Loans [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 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 56,527 | $ 71,585 | 81,850 |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 725 | $ 1,219 | 0 |
Commercial and Industrial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 1,150 | 1,477 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 527,795 | 465,484 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 88 | 575 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 7,868 | 8,156 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Small Business Administration [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 1,926 | 3,304 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 110,764 | 110,399 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 9 | 55 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 862 | 1,181 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 20,216 | 35,577 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 3,199,083 | 2,783,542 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 38,986 | 38,286 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 384 | 7,651 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 72,398 | 81,997 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 48 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 820 | 1,103 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 0 | 0 | |
SFR Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 4,248 | 5,874 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 241,114 | 227,091 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 16 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 2,186 | 2,186 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Dairy & Livestock and Agribusiness [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 1,324 | 714 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 242,940 | 226,996 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 5,842 | 5,176 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 0 | 0 | |
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 | 62,416 | 73,098 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 889 | 1,165 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Consumer and Other Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment in Loans, Individually Evaluated for Impairment | 801 | 868 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 79,362 | 75,235 | |
Recorded Investment in Loans, Acquired with Deteriorated Credit Quality | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 937 | 1,389 | |
Allowance for Loan Losses, Acquired with Deteriorated Credit Quality | $ 0 | $ 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 (Detail) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | $ 2,200,000 | $ 514,000 |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 81,000 | 435,000 |
Dairy & Livestock and Agribusiness [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 1,300,000 | |
Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 1,380,000 | 436,000 |
Nonaccrual | 10,347,000 | 7,152,000 |
Current | 4,554,194,000 | 4,322,843,000 |
Total gross loans, excluding PCI loans | 4,565,921,000 | 4,330,431,000 |
Loans, Excluding PCI Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 803,000 | 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 | 577,000 | 0 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 219,000 | 0 |
Nonaccrual | 506,000 | 156,000 |
Current | 528,220,000 | 484,922,000 |
Total gross loans, excluding PCI loans | 528,945,000 | 485,078,000 |
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 | 42,000 | 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 | 177,000 | 0 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 329,000 | 352,000 |
Nonaccrual | 1,089,000 | 2,737,000 |
Current | 111,272,000 | 94,095,000 |
Total gross loans, excluding PCI loans | 112,690,000 | 97,184,000 |
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 | 328,000 | 352,000 |
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 | 1,000 | 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 | 2,374,000 | 635,000 |
Current | 1,045,057,000 | 949,184,000 |
Total gross loans, excluding PCI loans | 1,047,431,000 | 949,819,000 |
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 | 0 |
Nonaccrual | 3,249,000 | 1,048,000 |
Current | 2,168,619,000 | 1,979,274,000 |
Total gross loans, excluding PCI loans | 2,171,868,000 | 1,980,322,000 |
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 | 0 |
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 | 384,000 | 0 |
Current | 53,305,000 | 48,841,000 |
Total gross loans, excluding PCI loans | 53,689,000 | 48,841,000 |
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 | 19,093,000 | 37,038,000 |
Total gross loans, excluding PCI loans | 19,093,000 | 37,038,000 |
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 | 403,000 | 0 |
Nonaccrual | 983,000 | 2,207,000 |
Current | 243,976,000 | 248,398,000 |
Total gross loans, excluding PCI loans | 245,362,000 | 250,605,000 |
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 | 403,000 | 0 |
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 | 1,324,000 | 0 |
Current | 242,940,000 | 338,631,000 |
Total gross loans, excluding PCI loans | 244,264,000 | 338,631,000 |
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 | 62,416,000 | 64,639,000 |
Total gross loans, excluding PCI loans | 62,416,000 | 64,639,000 |
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 | 429,000 | 84,000 |
Nonaccrual | 438,000 | 369,000 |
Current | 79,296,000 | 77,821,000 |
Total gross loans, excluding PCI loans | 80,163,000 | 78,274,000 |
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 | 30,000 | 84,000 |
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 | $ 399,000 | $ 0 |
Loans and Lease Finance Recei48
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, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing loans, current | $ 6,200,000 | $ 4,700,000 |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 2,200,000 | 514,000 |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 81,000 | 435,000 |
90+ Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | $ 1,900,000 | $ 1,500,000 |
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 (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | $ 29,905 | $ 46,513 | $ 26,018 |
Recorded Investment, With a related allowance recorded | 144 | 8,952 | 367 |
Recorded Investment, Total impaired loans | 30,049 | 55,465 | 26,385 |
Unpaid Principal Balance, With no related allowance recorded | 35,951 | 53,857 | 32,198 |
Unpaid Principal Balance, With a related allowance recorded | 161 | 9,092 | 383 |
Unpaid Principal Balance, Total impaired loans | 36,112 | 62,949 | 32,581 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 97 | 694 | 141 |
Related Allowance, Total impaired loans | 97 | 694 | 141 |
Average Recorded Investment, With no related allowance recorded | 30,209 | 46,525 | |
Average Recorded Investment, With a related allowance recorded | 162 | 9,107 | |
Average Recorded Investment, Total impaired loans | 30,371 | 55,632 | |
Interest Income Recognized, With no related allowance recorded | 495 | 453 | |
Interest Income Recognized, With a related allowance recorded | 2 | 104 | |
Interest Income Recognized, Total impaired loans | 497 | 557 | |
Commercial and Industrial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 1,015 | 805 | 730 |
Recorded Investment, With a related allowance recorded | 135 | 672 | 171 |
Unpaid Principal Balance, With no related allowance recorded | 1,985 | 1,677 | 1,646 |
Unpaid Principal Balance, With a related allowance recorded | 136 | 741 | 171 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 88 | 575 | 114 |
Average Recorded Investment, With no related allowance recorded | 1,045 | 831 | |
Average Recorded Investment, With a related allowance recorded | 152 | 687 | |
Interest Income Recognized, With no related allowance recorded | 6 | 7 | |
Interest Income Recognized, With a related allowance recorded | 2 | 3 | |
Small Business Administration [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 1,917 | 3,050 | 3,386 |
Recorded Investment, With a related allowance recorded | 9 | 254 | 196 |
Unpaid Principal Balance, With no related allowance recorded | 2,272 | 3,765 | 4,189 |
Unpaid Principal Balance, With a related allowance recorded | 25 | 274 | 212 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 9 | 55 | 27 |
Average Recorded Investment, With no related allowance recorded | 1,960 | 3,089 | |
Average Recorded Investment, With a related allowance recorded | 10 | 254 | |
Interest Income Recognized, With no related allowance recorded | 16 | 13 | |
Interest Income Recognized, With a related allowance recorded | 0 | 2 | |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 6,669 | 5,315 | 1,797 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 7,081 | 6,507 | 2,276 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 6,434 | 5,095 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 32 | 51 | |
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 | 13,547 | 30,262 | 13,331 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 16,198 | 33,368 | 15,842 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 13,479 | 30,400 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 401 | 343 | |
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 | 384 | 0 | 0 |
Recorded Investment, With a related allowance recorded | 0 | 7,651 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 402 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 7,651 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 48 | 0 |
Average Recorded Investment, With no related allowance recorded | 384 | 0 | |
Average Recorded Investment, With a related allowance recorded | 0 | 7,651 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | 0 | 97 | |
Construction Non-speculative [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 0 | 0 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 0 | 0 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no 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 | 4,248 | 5,499 | 5,174 |
Recorded Investment, With a related allowance recorded | 0 | 375 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 5,024 | 6,406 | 6,075 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 426 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 16 | 0 |
Average Recorded Investment, With no related allowance recorded | 4,259 | 5,512 | |
Average Recorded Investment, With a related allowance recorded | 0 | 515 | |
Interest Income Recognized, With no related allowance recorded | 34 | 27 | |
Interest Income Recognized, With a related allowance recorded | 0 | 2 | |
Dairy & Livestock and Agribusiness [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 1,324 | 714 | 747 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 1,610 | 714 | 747 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 1,839 | 710 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 1 | 8 | |
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 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 0 | 0 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no 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 | 801 | 868 | 853 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 1,379 | 1,420 | 1,423 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | $ 0 |
Average Recorded Investment, With no related allowance recorded | 809 | 888 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 5 | 4 | |
Interest Income Recognized, With a related allowance recorded | $ 0 | $ 0 |
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, 2017 | Mar. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | ||
Total TDRs | $ 21,109 | $ 49,681 |
Performing TDRs [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Beginning balance | 19,233 | 42,687 |
New modifications | 3,143 | 1,006 |
Payoffs and payments, net | (3,003) | (6,372) |
TDRs returned to accrual status | 329 | 0 |
TDRs placed on nonaccrual status | 0 | 0 |
Ending balance | 19,702 | 37,321 |
Nonperforming TDRs [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Beginning balance | 1,626 | 12,622 |
New modifications | 2,066 | 82 |
Charge-offs | 0 | (38) |
Payoffs and payments, net | (1,956) | (306) |
TDRs returned to accrual status | (329) | 0 |
TDRs placed on nonaccrual status | 0 | 0 |
Ending balance | $ 1,407 | $ 12,360 |
Loans and Lease Finance Recei51
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loans Modified as Troubled Debt Restructurings (Detail) pure in Thousands | 3 Months Ended | |
Mar. 31, 2017USD ($)Contract | Mar. 31, 2016USD ($) | |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | 3 | 5 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 5,209 | $ 1,088,000 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 5,209 | 1,088,000 |
Troubled debt restructurings, Outstanding Recorded Investment | 3,301 | 1,046,000 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 28,000 |
Commercial and Industrial [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | 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 and Industrial [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | 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] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | 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 | 0 | 1 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 194,000 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 194,000 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 193,000 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 28,000 |
Commercial Real Estate Owner Occupied [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | 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 | 1 | 2 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 3,143 | $ 812,000 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 3,143 | 812,000 |
Troubled debt restructurings, Outstanding Recorded Investment | 3,143 | 778,000 |
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 | 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 | 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 | |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | |
Consumer [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 1 | |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 82 | |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 82 | |
Troubled debt restructurings, Outstanding Recorded Investment | 80 | |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | |
SFR Mortgage [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | 0 | |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | |
SFR Mortgage [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | 2 | |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 82,000 | |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 82,000 | |
Troubled debt restructurings, Outstanding Recorded Investment | 75,000 | |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | |
Dairy & Livestock and Agribusiness [Member] | Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | |
Dairy & Livestock and Agribusiness [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 1 | |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 1,984 | |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 1,984 | |
Troubled debt restructurings, Outstanding Recorded Investment | 78 | |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 |
Earnings Per Share Reconcilia52
Earnings Per Share Reconciliation - Additional Information (Detail) - shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per common share | 1,000 | 262,000 |
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, 2017 | Mar. 31, 2016 | |
Earnings per common share: | ||
Net earnings | $ 28,504 | $ 23,391 |
Less: Net earnings allocated to restricted stock | 112 | 104 |
Net earnings allocated to common shareholders | $ 28,392 | $ 23,287 |
Weighted average shares outstanding | 108,339 | 106,392 |
Basic earnings per common share | $ 0.26 | $ 0.22 |
Diluted earnings per common share: | ||
Net income allocated to common shareholders | $ 28,392 | $ 23,287 |
Weighted average shares outstanding | 108,339 | 106,392 |
Incremental shares from assumed exercise of outstanding options | 467 | 392 |
Diluted weighted average shares outstanding | 108,806 | 106,784 |
Diluted earnings per common share | $ 0.26 | $ 0.22 |
Fair Value Information - Additi
Fair Value Information - Additional Information (Detail) - USD ($) | Mar. 31, 2017 | Mar. 31, 2016 |
Fair Value Disclosures [Abstract] | ||
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 |
Assets outstanding measured at fair value, Non-recurring basis | $ 0 |
Fair Value Information - Assets
Fair Value Information - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, liabilities | $ 569,372 | $ 608,811 |
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 | 4,985 | 5,783 |
Interest rate swaps, liabilities | 4,985 | 5,783 |
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 | 2,276,688 | 2,276,249 |
Total liabilities | 4,985 | 5,783 |
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 | 75,721 | 80,071 |
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/GSE [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/GSE [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 1,750 | 2,752 |
Fair Value on Recurring Basis [Member] | Government Agency/GSE [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 | 1,861,753 | 1,834,748 |
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/REMIC - 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/REMIC - Residential [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 326,444 | 347,189 |
Fair Value on Recurring Basis [Member] | CMO/REMIC - 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 | 6,035 | 5,706 |
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 | 2,271,703 | 2,270,466 |
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 | 4,985 | 5,783 |
Interest rate swaps, liabilities | 4,985 | 5,783 |
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 | 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 | 2,276,688 | 2,276,249 |
Total liabilities | 4,985 | 5,783 |
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 | 75,721 | 80,071 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | Government Agency/GSE [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 1,750 | 2,752 |
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 | 1,861,753 | 1,834,748 |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | CMO/REMIC - Residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities - AFS | 326,444 | 347,189 |
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 | 6,035 | 5,706 |
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 | 2,271,703 | 2,270,466 |
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 | 4,985 | 5,783 |
Interest rate swaps, liabilities | $ 4,985 | $ 5,783 |
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] $ in Thousands | Dec. 31, 2016USD ($) |
Description of assets | |
Total assets | $ 2,593 |
Other Real Estate Owned [Member] | |
Description of assets | |
Total assets | 0 |
Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | |
Description of assets | |
Total assets | 2,558 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |
Description of assets | |
Total assets | 8 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |
Description of assets | |
Total assets | 27 |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | |
Description of assets | |
Total assets | 0 |
Loans, Excluding PCI Loans [Member] | Construction [Member] | |
Description of assets | |
Total assets | 0 |
Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | |
Description of assets | |
Total assets | 0 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | |
Description of assets | |
Total assets | 0 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | Other Real Estate Owned [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | |
Description of assets | |
Total assets | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | Other Real Estate Owned [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | |
Description of assets | |
Total assets | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | |
Description of assets | |
Total assets | 0 |
Level 3 [Member] | |
Description of assets | |
Total assets | 3,672 |
Level 3 [Member] | Other Real Estate Owned [Member] | |
Description of assets | |
Total assets | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | |
Description of assets | |
Total assets | 3,411 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |
Description of assets | |
Total assets | 65 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |
Description of assets | |
Total assets | 196 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | |
Description of assets | |
Total assets | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | |
Description of assets | |
Total assets | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | |
Description of assets | |
Total assets | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | |
Description of assets | |
Total assets | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | |
Description of assets | |
Total assets | 0 |
Carrying Value [Member] | |
Description of assets | |
Total assets | 3,672 |
Carrying Value [Member] | Other Real Estate Owned [Member] | |
Description of assets | |
Total assets | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | |
Description of assets | |
Total assets | 3,411 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |
Description of assets | |
Total assets | 65 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |
Description of assets | |
Total assets | 196 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | |
Description of assets | |
Total assets | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Construction [Member] | |
Description of assets | |
Total assets | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | SFR Mortgage [Member] | |
Description of assets | |
Total assets | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | |
Description of assets | |
Total assets | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | |
Description of assets | |
Total assets | $ 0 |
Fair Value Information - Estima
Fair Value Information - Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Total cash and due from banks | $ 118,772 | $ 119,445 |
Interest-earning balances due from depository institutions and federal funds sold | 30,321 | 47,848 |
FHLB stock | 19,640 | 17,688 |
Investment securities available-for-sale | 2,271,703 | 2,270,466 |
Investment securities held-to-maturity | 885,057 | 911,676 |
Total loans, net of allowance for loan losses | 4,556,285 | 4,333,524 |
Deposits: | ||
Noninterest-bearing | 3,999,107 | 3,673,541 |
Interest-bearing | 2,843,706 | 2,636,139 |
Junior subordinated debentures | 25,774 | 25,774 |
Swaps | 569,372 | 608,811 |
Carrying Value [Member] | ||
Assets | ||
Total cash and due from banks | 118,772 | 119,445 |
Interest-earning balances due from depository institutions and federal funds sold | 263,669 | 2,188 |
FHLB stock | 19,640 | 17,688 |
Investment securities available-for-sale | 2,271,703 | 2,270,466 |
Investment securities held-to-maturity | 885,057 | 911,676 |
Total loans, net of allowance for loan losses | 4,556,285 | 4,333,524 |
Swaps | 4,985 | 5,783 |
Deposits: | ||
Noninterest-bearing | 3,999,107 | 3,673,541 |
Interest-bearing | 2,843,706 | 2,636,139 |
Borrowings | 564,387 | 656,028 |
Junior subordinated debentures | 25,774 | 25,774 |
Swaps | 4,985 | 5,783 |
Estimated Fair Value [Member] | ||
Assets | ||
Total cash and due from banks | 118,772 | 119,445 |
Interest-earning balances due from depository institutions and federal funds sold | 263,669 | 2,188 |
FHLB stock | 19,640 | 17,688 |
Investment securities available-for-sale | 2,271,703 | 2,270,466 |
Investment securities held-to-maturity | 871,755 | 897,374 |
Total loans, net of allowance for loan losses | 4,520,673 | 4,306,225 |
Swaps | 4,985 | 5,783 |
Deposits: | ||
Noninterest-bearing | 3,999,107 | 3,673,541 |
Interest-bearing | 2,841,739 | 2,634,443 |
Borrowings | 564,147 | 655,820 |
Junior subordinated debentures | 18,913 | 18,463 |
Swaps | 4,985 | 5,783 |
Estimated Fair Value [Member] | Level 1 [Member] | ||
Assets | ||
Total cash and due from banks | 118,772 | 119,445 |
Interest-earning balances due from depository institutions and federal funds sold | 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 | 3,999,107 | 3,673,541 |
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 due from banks | 0 | 0 |
Interest-earning balances due from depository institutions and federal funds sold | 263,669 | 2,188 |
FHLB stock | 19,640 | 17,688 |
Investment securities available-for-sale | 2,271,703 | 2,270,466 |
Investment securities held-to-maturity | 871,755 | 897,374 |
Total loans, net of allowance for loan losses | 0 | 0 |
Swaps | 4,985 | 5,783 |
Deposits: | ||
Noninterest-bearing | 0 | 0 |
Interest-bearing | 2,841,739 | 2,634,443 |
Borrowings | 564,147 | 655,820 |
Junior subordinated debentures | 0 | 0 |
Swaps | 4,985 | 5,783 |
Estimated Fair Value [Member] | Level 3 [Member] | ||
Assets | ||
Total cash and due from banks | 0 | 0 |
Interest-earning balances due from depository institutions and federal funds sold | 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 | 4,520,673 | 4,306,225 |
Swaps | 0 | 0 |
Deposits: | ||
Noninterest-bearing | 0 | 0 |
Interest-bearing | 0 | 0 |
Borrowings | 0 | 0 |
Junior subordinated debentures | 18,913 | 18,463 |
Swaps | $ 0 | $ 0 |
Business Segments - Additional
Business Segments - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017LocationSegment | |
Segment Reporting [Abstract] | |
Number of principal reporting segments | Segment | 2 |
Bank operated banking centers, number | Location | 54 |
Business Segments - Schedule of
Business Segments - Schedule of Segment Reporting Information by Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |||
Net interest income | $ 65,433 | $ 62,516 | |
(Recapture of) provision for loan losses | (4,500) | 0 | |
Net interest income after (recapture of) provision for loan losses | 69,933 | 62,516 | |
Noninterest income | 8,722 | 8,683 | |
Noninterest expense | 34,117 | 34,364 | |
Earnings before income taxes | 44,538 | 36,835 | |
Goodwill | 119,193 | 88,174 | $ 89,533 |
Segment assets | 8,559,121 | 7,920,836 | $ 8,073,707 |
Operating Segments [Member] | Centers [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 45,578 | 42,234 | |
(Recapture of) provision for loan losses | 511 | 2,200 | |
Net interest income after (recapture of) provision for loan losses | 45,067 | 40,034 | |
Noninterest income | 5,207 | 4,827 | |
Noninterest expense | 12,438 | 12,610 | |
Earnings before income taxes | 37,836 | 32,251 | |
Goodwill | 119,193 | 88,174 | |
Segment assets | 7,399,909 | 6,586,237 | |
Operating Segments [Member] | Dairy & Livestock and Agribusiness [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 2,144 | 1,933 | |
(Recapture of) provision for loan losses | (2,699) | (952) | |
Net interest income after (recapture of) provision for loan losses | 4,843 | 2,885 | |
Noninterest income | 55 | 53 | |
Noninterest expense | 501 | 479 | |
Earnings before income taxes | 4,397 | 2,459 | |
Goodwill | 0 | 0 | |
Segment assets | 363,029 | 386,804 | |
Operating Segments [Member] | Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net interest income | 17,711 | 18,349 | |
(Recapture of) provision for loan losses | (2,312) | (1,248) | |
Net interest income after (recapture of) provision for loan losses | 20,023 | 19,597 | |
Noninterest income | 3,460 | 3,803 | |
Noninterest expense | 21,178 | 21,275 | |
Earnings before income taxes | 2,305 | 2,125 | |
Goodwill | 0 | 0 | |
Segment assets | $ 796,183 | $ 947,795 |
Derivative Financial Instrume60
Derivative Financial Instruments - Additional Information (Detail) | Mar. 31, 2017USD ($)Agreement | Dec. 31, 2016USD ($) |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative assets and liabilities offset in balance sheet | $ 0 | |
Total notional amount of the Company's swaps | $ 207,000,000 | $ 202,700,000 |
Interest-rate Swap Agreements with Customers [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Number of interest-rate swap agreements | Agreement | 80 |
Derivative Financial Instrume61
Derivative Financial Instruments - Fair Value of Derivative Instruments (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | $ 4,985 | $ 5,783 |
Other Liabilities [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 4,985 | 5,783 |
Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 4,985 | 5,783 |
Other Assets [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 4,985 | $ 5,783 |
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, 2017 | Mar. 31, 2016 | |
Derivatives, Fair Value [Line Items] | ||
Amount of Gain Recognized in Income on Derivative Instruments | $ 323 | $ 58 |
Interest Rate Swaps [Member] | Other Income [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Amount of Gain Recognized in Income on Derivative Instruments | $ 323 | $ 58 |
Other Comprehensive Income - Su
Other Comprehensive Income - Summary of Components of Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Equity [Abstract] | ||
Net change in fair value recorded in accumulated OCI, Before-tax | $ 1,207 | $ 28,044 |
Net change in fair value recorded in accumulated OCI, Tax effect | 507 | 11,778 |
Net change in fair value recorded in accumulated OCI, After-tax | 700 | 16,266 |
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 | (783) | (774) |
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity, Tax effect | (329) | (325) |
Amortization of unrealized gains on securities transferred from available-for-sale to held-to-maturity, After-tax | (454) | (449) |
Net realized (gain)/loss reclassified into earnings, Before-tax | 0 | 0 |
Net realized (gain)/loss reclassified into earnings, Tax Effect | 0 | 0 |
Net realized (gain)/loss reclassified into earnings, After-Tax | 0 | 0 |
Net Change, Before-tax | 424 | 27,270 |
Net Change, Tax effect | 178 | 11,453 |
Other comprehensive income, net of tax | $ 246 | $ 15,817 |
Balance Sheet Offsetting - Sche
Balance Sheet Offsetting - Schedule of Balance Sheet Offsetting (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Offsetting Assets Liabilities [Line Items] | ||
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | $ 570,618 | $ 609,883 |
Financial liabilities, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | (1,246) | (1,072) |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 569,372 | 608,811 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 1,246 | 1,072 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (686,878) | (696,213) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | (116,260) | (86,330) |
Repurchase Agreements [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 564,387 | 603,028 |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 564,387 | 603,028 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (674,122) | (683,413) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | (109,735) | (80,385) |
Interest Rate Swaps [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial assets, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 4,985 | 5,783 |
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 | 4,985 | 5,783 |
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 | 4,985 | 5,783 |
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 | 4,985 | 5,783 |
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 | 4,985 | 5,783 |
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 | 4,985 | 5,783 |
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 6,231 | 6,855 |
Financial liabilities, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | (1,246) | (1,072) |
Financial liabilities, Net Amounts of Assets presented in the Condensed Consolidated Balance Sheets | 4,985 | 5,783 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 1,246 | 1,072 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (12,756) | (12,800) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | $ (6,525) | $ (5,945) |