Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 31, 2019 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Document Quarterly Report | true | |
Entity Central Index Key | 0000354647 | |
Current Fiscal Year End Date | --12-31 | |
Document Transition Report | false | |
Entity Interactive Data Current | Yes | |
Document Period End Date | Jun. 30, 2019 | |
Entity Registrant Name | CVB FINANCIAL CORP | |
Entity Current Reporting Status | Yes | |
Trading Symbol | CVBF | |
Title of 12(b) Security | Common Stock | |
Security Exchange Name | NASDAQ | |
Entity File Number | 000-10140 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 95-3629339 | |
Entity Address, Address Line One | 701 North Haven Ave., | |
Entity Address, City or Town | Ontario | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 91764 | |
City Area Code | 909 | |
Local Phone Number | 980-4030 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 140,143,607 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 170,387 | $ 144,008 |
Interest-earning balances due from Federal Reserve | 5,453 | 19,940 |
Total cash and cash equivalents | 175,840 | 163,948 |
Interest-earning balances due from depository institutions | 6,425 | 7,670 |
Investment securities available-for-sale, at fair value (with amortized cost of $1,584,687 at June 30, 2019, and $1,757,666 at December 31, 2018) | 1,600,020 | 1,734,085 |
Investment securities held-to-maturity (with fair value of $729,032 at June 30, 2019, and $721,537 at December 31, 2018) | 728,113 | 744,440 |
Total investment securities | 2,328,133 | 2,478,525 |
Investment in stock of Federal Home Loan Bank (FHLB) | 17,688 | 17,688 |
Loans and lease finance receivables | 7,535,690 | 7,764,611 |
Allowance for loan losses | (67,132) | (63,613) |
Net loans and lease finance receivables | 7,468,558 | 7,700,998 |
Premises and equipment, net | 54,163 | 58,193 |
Bank owned life insurance (BOLI) | 224,172 | 220,758 |
Accrued interest receivable | 29,481 | 30,649 |
Intangibles | 48,094 | 53,784 |
Goodwill | 663,707 | 666,539 |
Other real estate owned (OREO) | 2,275 | 420 |
Income taxes | 49,581 | 62,174 |
Other assets | 103,466 | 67,807 |
Total assets | 11,171,583 | 11,529,153 |
Deposits: | ||
Noninterest-bearing | 5,250,235 | 5,204,787 |
Interest-bearing | 3,412,588 | 3,622,703 |
Total deposits | 8,662,823 | 8,827,490 |
Customer repurchase agreements | 421,271 | 442,255 |
Other borrowings | 280,000 | |
Deferred compensation | 20,953 | 20,033 |
Junior subordinated debentures | 25,774 | 25,774 |
Other liabilities | 104,085 | 82,411 |
Total liabilities | 9,234,906 | 9,677,963 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Common stock, authorized, 225,000,000 shares without par; issued and outstanding 140,141,680 at June 30, 2019, and 140,000,017 at December 31, 2018 | 1,296,885 | 1,293,669 |
Retained earnings | 631,512 | 575,805 |
Accumulated other comprehensive income (loss), net of tax | 8,280 | (18,284) |
Total stockholders' equity | 1,936,677 | 1,851,190 |
Total liabilities and stockholders' equity | $ 11,171,583 | $ 11,529,153 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Amortized cost | $ 1,584,687 | $ 1,757,666 |
Fair Value, Held-to-maturity | $ 729,032 | $ 721,537 |
Common stock, par value | ||
Common stock, authorized | 225,000,000 | 225,000,000 |
Common stock, shares issued | 140,141,680 | 140,000,017 |
Common stock, shares outstanding | 140,141,680 | 140,000,017 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Interest income: | ||||
Loans and leases, including fees | $ 101,843 | $ 57,368 | $ 201,530 | $ 112,564 |
Investment securities: | ||||
Investment securities available-for-sale | 10,118 | 11,697 | 20,763 | 23,565 |
Investment securities held-to-maturity | 4,426 | 4,807 | 8,951 | 9,572 |
Total investment income | 14,544 | 16,504 | 29,714 | 33,137 |
Dividends from FHLB stock | 298 | 298 | 630 | 630 |
Interest-earning deposits with other institutions | 100 | 635 | 194 | 1,171 |
Total interest income | 116,785 | 74,805 | 232,068 | 147,502 |
Interest expense: | ||||
Deposits | 4,093 | 1,549 | 7,964 | 3,074 |
Borrowings and customer repurchase agreements | 1,377 | 337 | 2,987 | 790 |
Junior subordinated debentures | 258 | 231 | 524 | 429 |
Total interest expense | 5,728 | 2,117 | 11,475 | 4,293 |
Net interest income before provision for (recapture of) loan losses | 111,057 | 72,688 | 220,593 | 143,209 |
Provision for (recapture of) loan losses | 2,000 | (1,000) | 3,500 | (2,000) |
Net interest income after provision for (recapture of) loan losses | 109,057 | 73,688 | 217,093 | 145,209 |
Noninterest income: | ||||
BOLI income | 1,349 | 1,069 | 2,685 | 2,048 |
Gain on OREO, net | 24 | 129 | 3,540 | |
Gain on sale of building, net | 4,545 | 0 | ||
Gain on eminent domain condemnation, net | 5,685 | 5,685 | 0 | |
Other | 2,603 | 1,178 | 4,647 | 2,569 |
Total noninterest income | 18,205 | 9,695 | 34,508 | 22,611 |
Noninterest expense: | ||||
Salaries and employee benefits | 28,862 | 21,051 | 58,164 | 43,365 |
Occupancy and equipment | 5,641 | 4,318 | 11,256 | 8,510 |
Professional services | 2,040 | 1,690 | 3,965 | 3,220 |
Software licenses and maintenance | 2,542 | 1,759 | 4,964 | 3,519 |
Marketing and promotion | 1,238 | 1,148 | 2,632 | 2,504 |
Amortization of intangible assets | 2,833 | 328 | 5,690 | 659 |
Acquisition related expenses | 2,612 | 494 | 5,761 | 1,297 |
Other | 4,760 | 3,466 | 9,700 | 7,126 |
Total noninterest expense | 50,528 | 34,254 | 102,132 | 70,200 |
Earnings before income taxes | 76,734 | 49,129 | 149,469 | 97,620 |
Income taxes | 22,253 | 13,756 | 43,346 | 27,334 |
Net earnings | 54,481 | 35,373 | 106,123 | 70,286 |
Other comprehensive income (loss): | ||||
Unrealized gain (loss) on securities arising during the period, before tax | 19,486 | (6,598) | 37,713 | (38,768) |
Less: Income tax (expense) benefit related to items of other comprehensive income | (5,761) | 1,951 | (11,149) | 11,462 |
Other comprehensive income (loss), net of tax | 13,725 | (4,647) | 26,564 | (27,306) |
Comprehensive income | $ 68,206 | $ 30,726 | $ 132,687 | $ 42,980 |
Basic earnings per common share | $ 0.39 | $ 0.32 | $ 0.76 | $ 0.64 |
Diluted earnings per common share | $ 0.39 | $ 0.32 | $ 0.76 | $ 0.64 |
Service Charges on Deposit Accounts [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer, including assessed tax | $ 5,065 | $ 4,091 | $ 10,206 | $ 8,136 |
Trust and Investment Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer, including assessed tax | 2,452 | 2,399 | 4,634 | 4,556 |
Bankcard Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer, including assessed tax | $ 1,027 | $ 958 | $ 1,977 | $ 1,762 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning balance at Dec. 31, 2017 | $ 1,069,266 | $ 573,453 | $ 494,361 | $ 1,452 |
Beginning balance, shares at Dec. 31, 2017 | 110,185 | |||
Cumulative adjustment upon adoption of ASU 2018-02 | (356) | 356 | ||
Repurchase of common stock | (837) | $ (837) | ||
Repurchase of common stock, shares | (36) | |||
Exercise of stock options | 1,417 | $ 1,417 | ||
Exercise of stock options, shares | 138 | |||
Shares issued pursuant to stock-based compensation plan | 1,469 | $ 1,469 | ||
Shares issued pursuant to stock-based compensation plan, shares | 15 | |||
Cash dividends declared on common stock | (30,878) | (30,878) | ||
Net earnings | 70,286 | 70,286 | ||
Other comprehensive income/loss | (27,306) | (27,306) | ||
Ending balance at Jun. 30, 2018 | 1,083,417 | $ 575,502 | 533,413 | (25,498) |
Ending balance, shares at Jun. 30, 2018 | 110,302 | |||
Beginning balance at Mar. 31, 2018 | 1,066,858 | $ 574,225 | 513,484 | (20,851) |
Beginning balance, shares at Mar. 31, 2018 | 110,259 | |||
Repurchase of common stock | (45) | $ (45) | ||
Repurchase of common stock, shares | (2) | |||
Exercise of stock options | 589 | $ 589 | ||
Exercise of stock options, shares | 51 | |||
Shares issued pursuant to stock-based compensation plan | 733 | $ 733 | ||
Shares issued pursuant to stock-based compensation plan, shares | (6) | |||
Cash dividends declared on common stock | (15,444) | (15,444) | ||
Net earnings | 35,373 | 35,373 | ||
Other comprehensive income/loss | (4,647) | (4,647) | ||
Ending balance at Jun. 30, 2018 | 1,083,417 | $ 575,502 | 533,413 | (25,498) |
Ending balance, shares at Jun. 30, 2018 | 110,302 | |||
Beginning balance at Dec. 31, 2018 | 1,851,190 | $ 1,293,669 | 575,805 | (18,284) |
Beginning balance, shares at Dec. 31, 2018 | 140,000 | |||
Repurchase of common stock | (812) | $ (812) | ||
Repurchase of common stock, shares | (36) | |||
Exercise of stock options | 2,057 | $ 2,057 | ||
Exercise of stock options, shares | 145 | |||
Shares issued pursuant to stock-based compensation plan | 1,971 | $ 1,971 | ||
Shares issued pursuant to stock-based compensation plan, shares | 33 | |||
Cash dividends declared on common stock | (50,416) | (50,416) | ||
Net earnings | 106,123 | 106,123 | ||
Other comprehensive income/loss | 26,564 | 26,564 | ||
Ending balance at Jun. 30, 2019 | 1,936,677 | $ 1,296,885 | 631,512 | 8,280 |
Ending balance, shares at Jun. 30, 2019 | 140,142 | |||
Beginning balance at Mar. 31, 2019 | 1,890,927 | $ 1,294,093 | 602,279 | (5,445) |
Beginning balance, shares at Mar. 31, 2019 | 140,009 | |||
Repurchase of common stock | (77) | $ (77) | ||
Repurchase of common stock, shares | (3) | |||
Exercise of stock options | 1,917 | $ 1,917 | ||
Exercise of stock options, shares | 136 | |||
Shares issued pursuant to stock-based compensation plan | 952 | $ 952 | ||
Shares issued pursuant to stock-based compensation plan, shares | 0 | |||
Cash dividends declared on common stock | (25,248) | (25,248) | ||
Net earnings | 54,481 | 54,481 | ||
Other comprehensive income/loss | 13,725 | 13,725 | ||
Ending balance at Jun. 30, 2019 | $ 1,936,677 | $ 1,296,885 | $ 631,512 | $ 8,280 |
Ending balance, shares at Jun. 30, 2019 | 140,142 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends per common share | $ 0.18 | $ 0.14 | $ 0.36 | $ 0.28 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash Flows from Operating Activities | ||
Interest and dividends received | $ 221,542 | $ 150,590 |
Service charges and other fees received | 21,368 | 17,032 |
Interest paid | (10,889) | (4,288) |
Net cash paid to vendors, employees and others | (106,919) | (68,564) |
Income taxes | (42,500) | (26,379) |
Payments to FDIC, loss share agreement | 0 | (65) |
Net cash provided by operating activities | 82,602 | 68,326 |
Cash Flows from Investing Activities | ||
Net change in interest-earning balances from depository institutions | 1,245 | 10,802 |
Proceeds from repayment of investment securities available-for-sale | 164,571 | 195,715 |
Proceeds from maturity of investment securities available-for-sale | 4,255 | 10,806 |
Purchases of investment securities available-for-sale | 0 | (98,709) |
Proceeds from repayment and maturity of investment securities held-to-maturity | 51,690 | 55,021 |
Purchases of investment securities held-to-maturity | (37,110) | 0 |
Net increase in equity investments | (2,811) | (21,827) |
Net decrease in loan and lease finance receivables | 247,450 | 20,802 |
Proceeds from BOLI death benefit | 175 | 882 |
Proceeds on eminent domain condemnation, net | 5,685 | 0 |
Proceeds from sale of building, net | 5,487 | 0 |
Purchase of premises and equipment | (2,628) | (1,225) |
Proceeds from sales of other real estate owned | 523 | 8,067 |
Net cash provided by investing activities | 438,532 | 180,334 |
Cash Flows from Financing Activities | ||
Net (decrease) increase in other deposits | (112,317) | 11,299 |
Net decrease in time deposits | (52,350) | (22,846) |
Net decrease in other borrowings | (280,000) | 0 |
Net decrease in customer repurchase agreements | (20,984) | (169,719) |
Cash dividends on common stock | (44,836) | (30,862) |
Repurchase of common stock | (812) | (837) |
Proceeds from exercise of stock options | 2,057 | 1,417 |
Net cash used in financing activities | (509,242) | (211,548) |
Net increase in cash and cash equivalents | 11,892 | 37,112 |
Cash and cash equivalents, beginning of period | 163,948 | 144,377 |
Cash and cash equivalents, end of period | 175,840 | 181,489 |
Reconciliation of Net Earnings to Net Cash Provided by Operating Activities | ||
Net earnings | (106,123) | (70,286) |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Gain on eminent domain condemnation, net | (5,685) | 0 |
Gain on sale of building, net | (4,545) | 0 |
Gain on sale of other real estate owned | (129) | (3,540) |
Increase in BOLI | (3,589) | (1,815) |
Net amortization of premiums and discounts on investment securities | 5,054 | 7,302 |
Accretion of discount for acquired loans, net | (15,215) | (2,137) |
Provision for (recapture of) loan losses | 3,500 | (2,000) |
Payments to FDIC, loss share agreement | 0 | (65) |
Stock-based compensation | 1,971 | 1,469 |
Depreciation and amortization, net | 7,832 | 354 |
Change in other assets and liabilities | (12,739) | (1,528) |
Total adjustments | (23,521) | (1,960) |
Net cash provided by operating activities | 82,602 | 68,326 |
Supplemental Disclosure of Non-cash Investing Activities | ||
Transfer of loans to other real estate owned | 2,275 | 0 |
Issuance of common stock for acquisition | $ 0 | $ 0 |
Business
Business | 6 Months Ended |
Jun. 30, 2019 | |
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, this trust does not meet the criteria for 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 CitizensTrust. The Bank’s customers consist primarily of small to mid-sized On August 10, 2018, we completed the acquisition of Community Bank (“CB”), headquartered in Pasadena, California with 16 banking centers located throughout the greater Los Angeles and Orange County areas and total assets of approximately $4.09 billion. Our condensed consolidated financial statements for 2018 include CB operations, post-merger. See Note 4 – Business Combinations |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
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 | 6 Months Ended |
Jun. 30, 2019 | |
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 Standards 2017-12, 2017-12 non-financial 2017-12 In June 2018, the FASB issued ASU No. 2018-07, 2018-07 re-measured 2018-07 In February 2016, FASB issued ASU No. 2016-02, 2016-02 right-of-use 2018-10, 2018-10 2016-02. In July 2018, the FASB issued ASU No. 2018-11, 2016-02, non-lease 2018-11: non-lease 2016-02. Practical Expedients non-lease The Company’s leasing portfolio consists of real estate leases, which are used primarily for the banking operations of the Company. All leases in the current portfolio have been classified as operating leases, although this may change in the future. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. The adoption of this ASU during the first quarter of 2019 did not have a material impact on the Company’s consolidated financial statements. At adoption, the Company recognized a lease liability and a corresponding ROU asset of approximately $20 million on the consolidated balance sheet related to its future lease payments as a lessee under operating leases. See Note 13— Leases Operating lease ROU assets and lease liabilities are included in other assets other liabilities Recent Accounting Pronouncements In January 2017, the FASB issued ASU No. 2017-04, 2017-04 In August 2018, the FASB issued ASU No. 2018-13, 2018-13 |
Business Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Business Combinations | 4. BUSINESS COMBINATIONS Community Bank Acquisition On August 10, 2018 The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting. The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of the August 10, 2018 acquisition date. The application of the acquisition method of accounting resulted in the recognition of goodwill of $547.1 million and a core deposit intangible (“CDI”) of $52.2 million, or 2.26% of core deposits. Goodwill represents the excess purchase price over the fair value of the net assets acquired. Goodwill is not deductible for income tax purposes. The table below summarizes the amounts recognized for the estimated fair value of assets acquired and the liabilities assumed as of the acquisition date. August 10, 2018 (Dollars in thousands) Merger Consideration Cash paid $ 180,719 CVBF common stock issued 722,767 Total merger consideration $ 903,486 Identifiable net assets acquired, at fair value Assets Acquired Cash and cash equivalents 47,802 Investment securities 716,996 FHLB stock 17,250 Loans 2,738,100 Accrued interest receivable 7,916 Premises and equipment 14,632 BOLI 70,904 Core deposit intangible 52,200 Other assets 53,291 Total assets acquired 3,719,091 Liabilities assumed Deposits 2,869,986 FHLB advances 297,571 Other borrowings 166,000 Other liabilities 29,192 Total liabilities assumed 3,362,749 Total fair value of identifiable net assets, at fair value 356,342 Goodwill $ 547,144 At the date of acquisition, the gross contractual loan amounts receivable, inclusive of all principal and interest, was approximately $3 billion. The Company’s best estimate of the contractual principal cash flows for loans not expected to be collected at the date of acquisition was approximately $4.5 million. 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. The Company incurred merger related expenses associated with the CB acquisition of $ 2.6 5.8 respectively 494,000 1.3 . For illustrative purposes only, the following table presents certain unaudited pro forma information for the three and six months ended June 30, 2018. This unaudited estimated pro forma financial information was calculated as if CB had been acquired as of the beginning of the year prior to the date of acquisition. This unaudited pro forma information combines the historical results of CB with the Company’s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition occurred as of the beginning of the year prior to the acquisition. The unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value, cost savings, or business synergies. As a result, actual amounts would have differed from the unaudited pro forma information presented. Unaudited Pro Forma Three Months Ended Six Months Ended June 30, 2019 (Dollars in thousands, except per share amounts) Total revenues (net interest income plus noninterest income) $ 121,406 $ 244,379 Net income $ 46,960 $ 93,651 Earnings per share - basic $ 0.34 $ 0.67 Earnings per share - diluted $ 0.33 $ 0.67 |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2019 | |
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 available-for-sale June 30, 2019 Amortized Gross Holding Gain Gross Unrealized Holding Loss Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,348,415 $ 16,251 $ (2,417 ) $ 1,362,249 85.14% CMO/REMIC - residential 194,094 1,216 (334 ) 194,976 12.19% Municipal bonds 41,369 658 (41 ) 41,986 2.62% Other securities 809 - - 809 0.05% Total available-for-sale $ 1,584,687 $ 18,125 $ (2,792 ) $ 1,600,020 100.00% Investment securities held-to-maturity: Government agency/GSE $ 128,721 $ 2,627 $ (414 ) $ 130,934 17.68% Residential mortgage-backed securities 175,552 1,480 (415 ) 176,617 24.11% CMO 211,436 5 (4,358 ) 207,083 29.04% Municipal bonds 212,404 3,245 (1,251 ) 214,398 29.17% Total held-to-maturity $ 728,113 $ 7,357 $ (6,438 ) $ 729,032 100.00% December 31, 2018 Amortized Gross Holding Gain Gross Unrealized Holding Loss Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,494,106 $ 1,348 $ (20,946 ) $ 1,474,508 85.03% CMO/REMIC - residential 217,223 353 (3,525 ) 214,051 12.34% Municipal bonds 45,621 332 (1,143 ) 44,810 2.59% Other securities 716 - - 716 0.04% Total available-for-sale $ 1,757,666 $ 2,033 $ (25,614 ) $ 1,734,085 100.00% Investment securities held-to-maturity: Government agency/GSE $ 138,274 $ 572 $ (2,622 ) $ 136,224 18.57% Residential mortgage-backed securities 153,874 - (3,140 ) 150,734 20.67% CMO 215,336 - (12,081 ) 203,255 28.93% Municipal bonds 236,956 556 (6,188 ) 231,324 31.83% Total held-to-maturity $ 744,440 $ 1,128 $ (24,031 ) $ 721,537 100.00% 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 For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Investment securities available-for-sale: Taxable $ 9,821 $ 11,290 $ 20,130 $ 22,735 Tax-advantaged 297 407 633 830 Total interest income from available-for-sale 10,118 11,697 20,763 23,565 Investment securities held-to-maturity: Taxable 2,932 3,048 5,842 5,926 Tax-advantaged 1,494 1,759 3,109 3,646 Total interest income from held-to-maturity 4,426 4,807 8,951 9,572 Total interest income from investment securities $ 14,544 $ 16,504 $ 29,714 $ 33,137 Approximately 89% of the total investment securities portfolio at June 30, 2019 represents securities issued by the U.S. government or U.S. government-sponsored enterprises, with the implied guarantee of payment of principal and interest. 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 June 30, 2019 and December 31, 2018. 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”). June 30, 2019 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: Residential mortgage-backed securities $ - $ - $ 228,518 $ (2,417 ) $ 228,518 $ (2,417 ) CMO/REMIC - residential - - 71,924 (334 ) 71,924 (334 ) Municipal bonds - - 3,287 (41 ) 3,287 (41 ) Total available-for-sale $ - $ - $ 303,729 $ (2,792 ) $ 303,729 $ (2,792 ) Investment securities held-to-maturity: Government agency/GSE $ - $ - $ 39,016 $ (414 ) $ 39,016 $ (414 ) Residential mortgage-backed securities 10,722 (45 ) 75,536 (370 ) 86,258 (415 ) CMO - - 201,974 (4,358 ) 201,974 (4,358 ) Municipal bonds - - 49,102 (1,251 ) 49,102 (1,251 ) Total held-to-maturity $ 10,722 $ (45 ) $ 365,628 $ (6,393 ) $ 376,350 $ (6,438 ) December 31, 2018 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: Residential mortgage-backed securities $ 692,311 $ (4,864) $ 593,367 $ (16,082) $ 1,285,678 $ (20,946) CMO/REMIC - residential 36,582 (365) 135,062 (3,160) 171,644 (3,525) Municipal bonds 9,568 (188) 14,181 (955) 23,749 (1,143) Total available-for-sale $ 738,461 $ (5,417) $ 742,610 $ (20,197) $ 1,481,071 $ (25,614) Investment securities held-to-maturity: Government agency/GSE $ 7,479 $ (15) $ 54,944 $ (2,607) $ 62,423 $ (2,622) Residential mortgage-backed securities 59,871 (484) 90,863 (2,656) 150,734 (3,140) CMO - - 203,254 (12,081) 203,254 (12,081) Municipal bonds 70,989 (778) 77,723 (5,410) 148,712 (6,188) Total held-to-maturity $ 138,339 $ (1,277) $ 426,784 $ (22,754) $ 565,123 $ (24,031) At June 30, 2019 and December 31, 2018, investment securities having a carrying value of approximately $1.51 billion and $1.66 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 June 30, 2019, 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. June 30, 2019 Available-for-sale Held-to-maturity Amortized Fair Value Amortized Fair Value (Dollars in thousands) Due in one year or less $ 14,715 $ 14,896 $ 500 $ 503 Due after one year through five years 1,427,215 1,441,490 315,591 311,769 Due after five years through ten years 114,977 115,535 187,726 189,711 Due after ten years 27,780 28,099 224,296 227,049 Total investment securities $ 1,584,687 $ 1,600,020 $ 728,113 $ 729,032 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 June 30, 2019. |
Loans and Lease Finance Receiva
Loans and Lease Finance Receivables and Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans and Lease Finance Receivables and Allowance for Loan Losses | 6. LOANS AND LEASE FINANCE RECEIVABLES AND ALLOWANCE FOR LOAN LOSSES Prior to April 1, 2019, our loans and lease finance receivables consisted of purchase credit impaired (“PCI”) loans associated with the acquisition of San Joaquin Bank (“SJB”) on October 16, 2009, and loans and lease finance receivables excluding PCI loans (“Non-PCI loans”). The PCI loans are more fully discussed in Note 3 – Summary of Significant Accounting Policies The following table provides a summary of the Company’s total loans and lease finance receivables by type. June 30, 2019 December 31, 2018 Total Loans Non-PCI PCI Loans Total Loans (Dollars in thousands) Commercial and industrial $ 917,953 $ 1,002,209 $ 519 $ 1,002,728 SBA 327,606 350,043 1,258 351,301 Real estate: Commercial real estate 5,417,351 5,394,229 14,407 5,408,636 Construction 116,457 122,782 - 122,782 SFR mortgage 278,285 296,504 145 296,649 Dairy & livestock and agribusiness 301,752 393,843 700 394,543 Municipal lease finance receivables 59,985 64,186 - 64,186 Consumer and other loans 120,779 128,429 185 128,614 Gross loans 7,540,168 7,752,225 17,214 7,769,439 Less: Deferred loan fees, net (4,478 ) (4,828 ) - (4,828 ) Gross loans, net of deferred loan fees 7,535,690 7,747,397 17,214 7,764,611 Less: Allowance for loan losses (67,132 ) (63,409 ) (204 ) (63,613 ) Total loans and lease finance receivables $ 7,468,558 $ 7,683,988 $ 17,010 $ 7,700,998 As of June 30, 2019, 77.08% of the Company’s total gross loan portfolio consisted of real estate loans, 71.85% 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 June 30, 2019, $225.6 million, or 4.16% of the total commercial real estate loans included loans secured by farmland, compared to $231.0 million, or 4.27%, at December 31, 2018. The loans secured by farmland included $122.7 million for loans secured by dairy & livestock land and $102.9 million for loans secured by agricultural land at June 30, 2019, compared to $126.9 million for loans secured by dairy & livestock land and $104.1 million for loans secured by agricultural land at December 31, 2018. As of June 30, 2019, dairy & livestock and agribusiness loans of $301.8 million were comprised of $245.7 million for dairy & livestock loans and $56.1 million for agribusiness loans, compared to $340.5 million for dairy & livestock loans and $54.0 million for agribusiness loans at December 31, 2018. At June 30, 2019, the Company held approximately $3.81 billion of total fixed rate loans. At June 30, 2019 and December 31, 2018, loans totaling $6.05 billion and $5.71 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 An important element of our approach to 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 or improvement 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 affected in the future. The following table summarizes loans by type, according to our internal risk ratings for the periods presented. June 30, 2019 Pass Special Substandard (1) Doubtful & Total (Dollars in thousands) Commercial and industrial $ 883,044 $ 28,611 $ 6,298 $ - $ 917,953 SBA 303,947 14,444 9,215 - 327,606 Real estate: Commercial real estate Owner occupied 1,985,951 87,246 20,446 - 2,093,643 Non-owner 3,310,103 12,850 755 - 3,323,708 Construction Speculative 93,170 - - - 93,170 Non-speculative 23,287 - - - 23,287 SFR mortgage 272,767 2,158 3,360 - 278,285 Dairy & livestock and agribusiness 239,481 54,003 8,268 - 301,752 Municipal lease finance receivables 59,481 504 - - 59,985 Consumer and other loans 118,706 1,019 1,054 - 120,779 Total gross loans $ 7,289,937 $ 200,835 $ 49,396 $ - $ 7,540,168 (1) Includes $ 19.9 December 31, 2018 (1) Pass Special Substandard (2) Doubtful & Total (Dollars in thousands) Commercial and industrial $ 961,909 $ 29,358 $ 10,942 $ - $ 1,002,209 SBA 336,033 7,375 6,635 - 350,043 Real estate: Commercial real estate Owner occupied 2,008,169 95,841 13,980 - 2,117,990 Non-owner 3,260,822 9,938 5,479 - 3,276,239 Construction Speculative 118,233 - - - 118,233 Non-speculative 4,549 - - - 4,549 SFR mortgage 289,607 3,310 3,587 - 296,504 Dairy & livestock and agribusiness 350,044 34,586 9,213 - 393,843 Municipal lease finance receivables 63,650 536 - - 64,186 Consumer and other loans 126,085 1,263 1,081 - 128,429 Total gross loans $ 7,519,101 $ 182,207 $ 50,917 $ - $ 7,752,225 (1) Excludes PCI loans of $17.2 million as of December 31, 2018, of which $15.8 million were rated pass, $1.2 million were rated special mention, $224,000 were rated substandard, and zero were rated doubtful & loss. (2) Includes $19.0 million of classified loans acquired from CB in the third quarter of 2018. Allowance for Loan Losses (“ALLL”) The Bank’s Audit and Director Loan Committees provide Board oversight of the ALLL process and approve 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 of the 2018 Annual Report on Form 10-K for the year ended December 31, 2018 for a more detailed discussion concerning the allowance for loan losses. Management believes that the ALLL was appropriate at June 30, 2019 and December 31, 2018. No assurance can be given that economic conditions which adversely affect the Company’s service areas or other circumstances will not be reflected in increased provisions for loan losses in the future. The following tables present the balance and activity related to the allowance for loan losses for held-for-investment loans by type for the periods presented. For the Three Months Ended June 30, 2019 Ending Balance Charge-offs Recoveries Provision for (Recapture of) Loan Losses Ending Balance (Dollars in thousands) Commercial and industrial $ 7,608 $ (48 ) $ 49 $ 248 $ 7,857 SBA 1,294 (210 ) 4 31 1,119 Real estate: Commercial real estate 46,227 - - 2,060 48,287 Construction 864 - 3 4 871 SFR mortgage 2,189 - 115 19 2,323 Dairy & livestock and agribusiness 5,699 - 19 (377 ) 5,341 Municipal lease finance receivables 738 - - (12 ) 726 Consumer and other loans 582 (3 ) 2 27 608 Total allowance for loan losses $ 65,201 $ (261 ) $ 192 $ 2,000 $ 67,132 For the Three Months Ended June 30, 2018 Ending Balance 2018 Charge-offs Recoveries (Recapture of) Provision for Loan Losses Ending Balance (Dollars in thousands) Commercial and industrial $ 7,499 $ - $ 27 $ (556 ) $ 6,970 SBA 884 - 5 (48 ) 841 Real estate: Commercial real estate 41,863 - - 734 42,597 Construction 987 - 596 (580 ) 1,003 SFR mortgage 2,202 - - (47 ) 2,155 Dairy & livestock and agribusiness 4,666 - 19 (334 ) 4,351 Municipal lease finance receivables 834 - - (26 ) 808 Consumer and other loans 688 (2 ) 3 (47 ) 642 PCI loans 312 - - (96 ) 216 Total allowance for loan losses $ 59,935 $ (2 ) $ 650 $ (1,000 ) $ 59,583 For the Six Months Ended June 30, 2019 Ending Balance Charge-offs Recoveries Provision for (Recapture of) Loan Losses Ending Balance (Dollars in thousands) Commercial and industrial $ 7,528 $ (48 ) $ 159 $ 218 $ 7,857 SBA 1,078 (230 ) 9 262 1,119 Real estate: Commercial real estate 45,097 - - 3,190 48,287 Construction 981 - 6 (116 ) 871 SFR mortgage 2,197 - 183 (57 ) 2,323 Dairy & livestock and agribusiness 5,225 (78 ) 19 175 5,341 Municipal lease finance receivables 775 - - (49 ) 726 Consumer and other loans 732 (4 ) 3 (123 ) 608 Total allowance for loan losses $ 63,613 $ (360 ) $ 379 $ 3,500 $ 67,132 For the Six Months Ended June 30, 2018 Ending Balance Charge-offs Recoveries (Recapture of) Provision for Loan Losses Ending Balance (Dollars in thousands) Commercial and industrial $ 7,280 $ - $ 37 $ (347 ) $ 6,970 SBA 869 - 10 (38 ) 841 Real estate: Commercial real estate 41,722 - - 875 42,597 Construction 984 - 1,930 (1,911 ) 1,003 SFR mortgage 2,112 - - 43 2,155 Dairy & livestock and agribusiness 4,647 - 19 (315 ) 4,351 Municipal lease finance receivables 851 - - (43 ) 808 Consumer and other loans 753 (9 ) 11 (113 ) 642 PCI loans 367 - - (151 ) 216 Total allowance for loan losses $ 59,585 $ (9 ) $ 2,007 $ (2,000 ) $ 59,583 The following tables present the recorded investment in loans held-for-investment June 30, 2019 Recorded Investment in Loans Allowance for Loan Losses Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment (Dollars in thousands) Commercial and industrial $ 2,088 $ 915,865 $ 276 $ 7,581 SBA 5,632 321,974 93 1,026 Real estate: Commercial real estate 1,531 5,415,820 - 48,287 Construction - 116,457 - 871 SFR mortgage 4,858 273,427 - 2,323 Dairy & livestock and agribusiness - 301,752 - 5,341 Municipal lease finance receivables - 59,985 - 726 Consumer and other loans 397 120,382 2 606 Total $ 14,506 $ 7,525,662 $ 371 $ 66,761 June 30, 2018 Recorded Investment in Loans Allowance for Loan Losses Individually for Impairment Collectively Acquired with Individually Collectively Acquired with (Dollars in thousands) Commercial and industrial $ 355 $ 508,833 $ - $ - $ 6,970 $ - SBA 1,174 119,874 - - 841 - Real estate: Commercial real estate 7,741 3,446,289 - - 42,597 - Construction - 84,400 - - 1,003 - SFR mortgage 4,133 233,021 - 13 2,142 - Dairy & livestock and agribusiness 800 267,689 - - 4,351 - Municipal lease finance receivables - 67,721 - - 808 - Consumer and other loans 509 60,366 - 3 639 - PCI loans - - 19,426 - - 216 Total $ 14,712 $ 4,788,193 $ 19,426 $ 16 $ 59,351 $ 216 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 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 one or more of these concessions, restructured loans are classified as impaired. Impairment reserves on non-collateral 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 by type of loans for the periods presented. June 30, 2019 30-59 60-89 Total Past Due Nonaccrual (1) (3) Current Total Loans (Dollars in thousands) Commercial and industrial $ 300 $ 10 $ 310 $ 1,993 $ 915,650 $ 917,953 SBA - - - 5,082 322,524 327,606 Real estate: Commercial real estate Owner occupied - - - 502 2,093,141 2,093,643 Non-owner - - - 593 3,323,115 3,323,708 Construction Speculative (2) - - - - 93,170 93,170 Non-speculative - - - - 23,287 23,287 SFR mortgage - - - 2,720 275,565 278,285 Dairy & livestock and agribusiness - - - - 301,752 301,752 Municipal lease finance receivables - - - - 59,985 59,985 Consumer and other loans 22 - 22 397 120,360 120,779 Total gross loans $ 322 $ 10 $ 332 $ 11,287 $ 7,528,549 $ 7,540,168 (1) As of June 30, 2019, $2.8 million of nonaccruing loans were current, $360,000 were 30-59 832,000 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. (3) Includes $8.4 million of nonaccrual loans acquired from CB in the third quarter of 2018. December 31, 2018 (1) 30-59 60-89 Total Past Due Nonaccrual (2) (4) Current Total Loans (Dollars in thousands) Commercial and industrial $ 820 $ 89 $ 909 $ 7,490 $ 993,810 $ 1,002,209 SBA 1,172 135 1,307 2,892 345,844 350,043 Real estate: Commercial real estate Owner occupied 2,439 350 2,789 589 2,114,612 2,117,990 Non-owner - - - 5,479 3,270,760 3,276,239 Construction Speculative (3) - - - - 118,233 118,233 Non-speculative - - - - 4,549 4,549 SFR mortgage - 285 285 2,937 293,282 296,504 Dairy & livestock and agribusiness - - - 78 393,765 393,843 Municipal lease finance receivables - - - - 64,186 64,186 Consumer and other loans - - - 486 127,943 128,429 Total gross loans $ 4,431 $ 859 $ 5,290 $ 19,951 $ 7,726,984 $ 7,752,225 (1) Excludes PCI loans. (2) As of December 31, 2018, $2.3 million of nonaccruing loans were current, $33,000 were 30-59 60-89 (3) Speculative construction loans are generally for properties where there is no identified buyer or renter. (4) Includes $12.3 million of nonaccrual loans acquired from CB in the third quarter of 2018. Impaired Loans At June 30, 2019, the Company had impaired loans of $14.5 million. Impaired loans included $5.1 million of nonaccrual loans, $ million of nonaccrual single-family residential (“SFR”) mortgage loans, $ million of nonaccrual loans, $ million of nonaccrual commercial real estate loans, and $ of nonaccrual consumer and other loans. These impaired loans included $ million of loans whose terms were modified in a troubled debt restructuring, of which $ were classified as nonaccrual. The remaining balance of $ million consisted of loans performing according to the restructured terms. The impaired loans had a specific allowance of $ at June , . At December , , the Company had classified as impaired, loans with a balance of $ million with a related allowance of $ . The following tables present information for held-for-investment As of and For the Six Months Ended June 30, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 898 $ 1,033 $ - $ 1,022 $ 2 SBA 4,369 5,714 - 3,703 21 Real estate: Commercial real estate Owner occupied 502 616 - 515 - Non-owner 1,029 1,209 - 1,068 14 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 4,858 5,467 - 4,893 42 Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 395 518 - 407 - Total 12,051 14,557 - 11,608 79 With a related allowance recorded: Commercial and industrial 1,190 1,263 276 1,251 - SBA 1,263 1,534 93 1,179 - 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 2 3 2 2 - Total 2,455 2,800 371 2,432 - Total impaired loans $ 14,506 $ 17,357 $ 371 $ 14,040 $ 79 As of and For the Six Months Ended June 30, 2018 (1) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 355 $ 864 $ - $ 378 $ 4 SBA 1,174 1,302 - 1,204 23 Real estate: Commercial real estate Owner occupied 4,294 4,747 - 4,331 - Non-owner 3,447 4,894 - 3,565 44 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 4,120 4,860 - 4,159 55 Dairy & livestock and agribusiness 800 1,091 - 819 - Municipal lease finance receivables - - - - - Consumer and other loans 506 716 - 568 - Total 14,696 18,474 - 15,024 126 With a related allowance recorded: Commercial and industrial - - - - - SBA - - - - - Real estate: Commercial real estate Owner occupied - - - - - Non-owner - - - - - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 13 13 13 13 - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 3 3 3 3 - Total 16 16 16 16 - Total impaired loans $ 14,712 $ 18,490 $ 16 $ 15,040 $ 126 (1) Excludes PCI loans. As of December 31, 2018 (1) Recorded Investment Unpaid Principal Balance Related Allowance (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 7,436 $ 11,457 $ - SBA 3,467 5,746 - Real estate: Commercial real estate Owner occupied 589 705 - Non-owner 2,808 4,324 - Construction Speculative - - - Non-speculative - - - SFR mortgage 5,349 6,270 - Dairy & livestock and agribusiness - - - Municipal lease finance receivables - - - Consumer and other loans 418 526 - Total 20,067 29,028 - With a related allowance recorded: Commercial and industrial 189 191 3 SBA - - - Real estate: Commercial real estate Owner occupied - - - Non-owner 3,143 3,144 478 Construction Speculative - - - Non-speculative - - - SFR mortgage - - - Dairy & livestock and agribusiness 78 78 12 Municipal lease finance receivables - - - Consumer and other loans 68 100 68 Total 3,478 3,513 561 Total impaired loans $ 23,545 $ 32,541 $ 561 (1) Excludes PCI loans. The Company recognizes the charge-off charge-off non-collateral Reserve for Unfunded Loan Commitments The allowance for off-balance off-balance no 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 June 30, 2019, there were $3.5 million of loans classified as a TDR, of which $3.2 million were performing and $263,000 were nonperforming. 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 June 30, 2019, performing TDRs were comprised of eight SFR mortgage loans of $2.1 million, one SBA loan of $550,000, one commercial real estate loan of $436,000, and two commercial and industrial loans of $95,000. 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 zero and $490,000 of specific allowance to TDRs as of June 30, 2019 and December 31, 2018, respectively. The following table provides a summary of the activity related to TDRs for the periods presented. For the Three Months Ended For the Six Months Ended 2019 2018 (1) 2019 2018 (1) (Dollars in thousands) Performing TDRs: Beginning balance $ 3,299 $ 4,285 $ 3,594 $ 4,809 New modifications - 311 - 311 Payoffs/payments, net and other (80 ) (66 ) (375 ) (590 ) TDRs returned to accrual status - - - - TDRs placed on nonaccrual status - - - - Ending balance $ 3,219 $ 4,530 $ 3,219 $ 4,530 Nonperforming TDRs: Beginning balance $ 277 $ 3,909 $ 3,509 $ 4,200 New modifications - 38 - 38 Charge-offs - - (78 ) - Transfer to OREO - - (2,275 ) - Payoffs/payments, net and other (14 ) (55 ) (893 ) (346 ) TDRs returned to accrual status - - - - TDRs placed on nonaccrual status - - - - Ending balance $ 263 $ 3,892 $ 263 $ 3,892 Total TDRs $ 3,482 $ 8,422 $ 3,482 $ 8,422 (1) Excludes PCI loans. There were no loans that were modified as TDRs during the three and six months ended June 30, 2019. The following tables summarize loans modified as TDRs for the periods presented. Modifications (1) For the Three Months Ended June 30, 2018 (2) Number of Pre-Modification Post-Modification Investment Outstanding June 30, 2018 Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity 1 38 38 31 - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity 1 311 311 307 - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Total loans 2 $ 349 $ 349 $ 338 $ - For the Six Months Ended June 30, 2018 (2) Number of Pre-Modification Post-Modification Investment Outstanding June 30, 2018 Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity 1 38 38 31 - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity 1 311 311 307 - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Total loans 2 $ 349 $ 349 $ 338 $ - (1) The tables above exclude modified loans that were paid off prior to the end of the period. (2) Excludes PCI loans. (3) Financial effects resulting from modifications represent charge-offs and specific allowance recorded at modification date. There were no loans that were previously modified as a TDR within the previous 12 months that subsequently defaulted during the three and six months ended June 30, 2019 and 2018. |
Earnings Per Share Reconciliati
Earnings Per Share Reconciliation | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Reconciliation | 7. 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 shares issuable upon the assumed exercise of outstanding common stock options. Antidilutive common shares are not included in the calculation of diluted earnings per common share. For the three and six months ended June 30, 2019, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share, were 360,000 and 396,000, respectively. For the three and six months ended June 30, 2018, shares deemed to be antidilutive, and thus excluded from the computation of earnings per common share were 14,000 and 13,000, respectively. The table below shows earnings per common share and diluted earnings per common share, and reconciles the numerator and denominator of both earnings per common share calculations. For the Three Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (In thousands, except per share amounts) Earnings per common share: Net earnings $ 54,481 $ 35,373 $ 106,123 $ 70,286 Less: Net earnings allocated to restricted stock 134 94 276 202 Net earnings allocated to common shareholders $ 54,347 $ 35,279 $ 105,847 $ 70,084 Weighted average shares outstanding 139,748 109,983 139,682 109,921 Basic earnings per common share $ 0.39 $ 0.32 $ 0.76 $ 0.64 Diluted earnings per common share: Net income allocated to common shareholders 54,347 35,279 105,847 70,084 Weighted average shares outstanding 139,748 109,983 139,682 109,921 Incremental shares from assumed exercise of outstanding options 149 372 179 418 Diluted weighted average shares outstanding 139,897 110,355 139,861 110,339 Diluted earnings per common share $ 0.39 $ 0.32 $ 0.76 $ 0.64 |
Fair Value Information
Fair Value Information | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Information | 8. 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 June 30, 2019. 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 There were no Assets and Liabilities Measured at Fair Value on a Recurring Basis The tables below present the balances of assets and liabilities measured at fair value on a recurring basis for the periods presented. Carrying Value at Quoted Prices in Active Markets for Significant Other Significant June 30, 2019 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Residential mortgage-backed securities $ 1,362,249 $ - $ 1,362,249 $ - CMO/REMIC - residential 194,976 - 194,976 - Municipal bonds 41,986 - 41,986 - Other securities 809 - 809 - Total investment securities - AFS 1,600,020 - 1,600,020 - Interest rate swaps 10,744 - 10,744 - Total assets $ 1,610,764 $ - $ 1,610,764 $ - Description of liability Interest rate swaps $ 10,744 $ - $ 10,744 $ - Total liabilities $ 10,744 $ - $ 10,744 $ - Carrying Value at Quoted Prices in Active Markets for Significant Other Significant December 31, 2018 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Residential mortgage-backed securities $ 1,474,508 $ - $ 1,474,508 $ - CMO/REMIC - residential 214,051 - 214,051 - Municipal bonds 44,810 - 44,810 - Other securities 716 - 716 - Total investment securities - AFS 1,734,085 - 1,734,085 - Interest rate swaps 1,938 - 1,938 - Total assets $ 1,736,023 $ - $ 1,736,023 $ - Description of liability Interest rate swaps $ 1,938 $ - $ 1,938 $ - Total liabilities $ 1,938 $ - $ 1,938 $ - 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 For assets measured at fair value on a non-recurring Carrying Value at Quoted Prices in Active Markets for Significant Other Significant Total Losses (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ 1,190 $ - $ - $ 1,190 $ 276 SBA 1,153 - - 1,153 323 Real estate: Commercial real estate - - - - - Construction - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Consumer and other loans 2 - - 2 2 Other real estate owned - - - - - Asset held-for-sale - - - - - Total assets $ 2,345 $ - $ - $ 2,345 $ 601 Carrying Value at Quoted Prices in Active Markets for Significant Other Significant Total Losses For (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ 189 $ - $ - $ 189 $ 3 SBA - - - - - Real estate: Commercial real estate 3,143 - - 3,143 478 Construction - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness 78 - - 78 12 Consumer and other loans 68 - - 68 68 Other real estate owned - - - - - Asset held-for-sale - - - - - Total assets $ 3,478 $ - $ - $ 3,478 $ 561 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 June 30, 2019 and December 31, 2018, respectively. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. June 30, 2019 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and cash equivalents $ 175,840 $ 175,840 $ - $ - $ 175,840 Interest-earning 6,425 - 6,295 - 6,295 Investment securities available-for-sale 1,600,020 - 1,600,020 - 1,600,020 Investment securities held-to-maturity 728,113 - 729,032 - 729,032 Total loans, net of allowance for loan losses 7,468,558 - - 7,433,835 7,433,835 Swaps 10,744 - 10,744 - 10,744 Liabilities Deposits: Interest-bearing $ 3,412,588 $ - $ 3,409,516 $ - $ 3,409,516 Borrowings 421,271 - 420,841 - 420,841 Junior subordinated debentures 25,774 - - 20,703 20,703 Swaps 10,744 - 10,744 - 10,744 December 31, 2018 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and due from banks $ 163,948 $ 163,948 $ - $ - $ 163,948 Interest-earning balances due from depository 7,670 - 7,339 - 7,339 Investment securities available-for-sale 1,734,085 - 1,734,085 - 1,734,085 Investment securities held-to-maturity 744,440 - 721,537 - 721,537 Total loans, net of allowance for loan losses 7,700,998 - - 7,514,964 7,514,964 Swaps 1,938 - 1,938 - 1,938 Liabilities Deposits: Interest-bearing $ 3,622,703 $ - $ 3,614,682 $ - $ 3,614,682 Borrowings 722,255 - 721,601 - 721,601 Junior subordinated debentures 25,774 - - 21,176 21,176 Swaps 1,938 - 1,938 - 1,938 The fair value estimates presented herein are based on pertinent information available to management as of June 30, 2019 and December 31, 2018. 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. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 9. 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 June 30, 2019, the Bank has entered into 77 interest-rate swap agreements with customers. The Bank then entered into identical offsetting swaps with a counterparty. 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 an interest rate swap with its customers in which the Bank pays the customer a variable rate and the customer pays the Bank a fixed rate, therefore allowing customers to convert variable rate loans to fixed rate loans. At the same time, the Bank enters into a swap with the counterparty bank in which the Bank pays the counterparty a fixed rate and the counterparty in return pays the Bank a variable rate. 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. As a result of the Bank exceeding $10 billion in assets, federal regulations require the Bank, beginning in January 2019, to clear most interest rate swaps through a clearing house (“centrally cleared”). These instruments contain language outlining collateral pledging requirements for each counterparty, in which collateral must be posted if market value exceeds certain agreed upon threshold limits. Cash or securities are pledged as collateral. None 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 June 30, 2019 and December 31, 2018, the total notional amount of the Company’s swaps was $224.8 million, and $195.4 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below. June 30, 2019 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 10,744 Other liabilities $ 10,744 Total derivatives $ 10,744 $ 10,744 December 31, 2018 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 1,938 Other liabilities $ 1,938 Total derivatives $ 1,938 $ 1,938 The Effect of Derivative Financial Instruments on the Condensed Consolidated Statements of Earnings The following table summarizes the effect of derivative financial instruments on the condensed consolidated statement of earnings for the periods presented. Derivatives Not Designated as Hedging Instruments Location of Gain Recognized in Income on Derivative Instruments Amount of Gain Recognized in Income on Derivative Instruments For the Three Months Ended For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Interest rate swaps Other income $ 373 $ 151 $ 757 $ 267 Total $ 373 $ 151 $ 757 $ 267 |
Other Comprehensive Income
Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Other Comprehensive Income | 10. 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 June 30, 2019 2018 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 $ 19,564 $ (5,784 ) $ 13,780 $ (5,773 ) $ 1,707 $ (4,066 ) Amortization of unrealized losses on securities transferred from available-for-sale held-to-maturity (78 ) 23 (55 ) (825 ) 244 (581 ) Net change $ 19,486 $ (5,761 ) $ 13,725 $ (6,598 ) $ 1,951 $ (4,647 ) For the Six Months Ended June 30, 2019 2018 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 $ 38,914 $ (11,504 ) $ 27,410 $ (37,111 ) $ 10,972 $ (26,139 ) Amortization of unrealized losses on securities transferred from available-for-sale held-to-maturity (1,201 ) 355 (846 ) (1,657 ) 490 (1,167 ) Net change $ 37,713 $ (11,149 ) $ 26,564 $ (38,768 ) $ 11,462 $ (27,306 ) |
Balance Sheet Offsetting
Balance Sheet Offsetting | 6 Months Ended |
Jun. 30, 2019 | |
Text Block [Abstract] | |
Balance Sheet Offsetting | 11. 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 master netting arrangements. 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 counterparties 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 Presented in the Gross Amounts Not Offset in the the Condensed Condensed Condensed Financial Collateral Pledged Net Amount (Dollars in thousands) June 30, 2019 Financial assets: Derivatives not designated as hedging instruments $ 10,744 $ - $ - $ 10,744 $ - $ 10,744 Total $ 10,744 $ - $ - $ 10,744 $ - $ 10,744 Financial liabilities: Derivatives not designated as hedging instruments $ 10,851 $ (107 ) $ 10,744 $ 107 $ (14,962 ) $ (4,111 ) Repurchase agreements 421,271 - 421,271 - (424,648 ) (3,377 ) Total $ 432,122 $ (107 ) $ 432,015 $ 107 $ (439,610 ) $ (7,488 ) December 31, 2018 Financial assets: Derivatives not designated as hedging instruments $ 1,938 $ - $ - $ 1,938 $ - $ 1,938 Total $ 1,938 $ - $ - $ 1,938 $ - $ 1,938 Financial liabilities: Derivatives not designated as hedging instruments $ 4,203 $ (2,265 ) $ 1,938 $ 2,265 $ - $ 4,203 Repurchase agreements 442,255 - 442,255 - (487,607 ) (45,352 ) Total $ 446,458 $ (2,265 ) $ 444,193 $ 2,265 $ (487,607 ) $ (41,149 ) |
Leases
Leases | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases | 12. LEASES The Company’s operating leases, where the Company is a lessee, include real estate, such as office space and banking centers. Lease expense for operating leases is recognized on a straight-line basis over the term of the lease and is reflected in the consolidated statement of earnings. While the Company has, as a lessor, certain equipment finance leases, such leases are not material to the Company’s consolidated financial statements. The following presents the components of lease costs and supplemental information related to leases as of June 30, 2019 and for the three and six months ended June 30, 2019. As of June 30, 2019 (Dollars in thousands) Lease Assets and Liabilities ROU assets $ 17,959 Total lease liabilities 21,157 For the Three Months Ended For the Six Months Ended June 30, 2019 (Dollars in thousands) Lease Cost Operating lease expense (1) $ 1,906 $ 4,006 Sublease income - - Total lease expense $ 1,906 $ 4,006 (1) Includes short-term leases and variable lease costs, which are immaterial. Other Information Cash paid for amounts included in the measurement of lease Operating cash outflows from operating leases $ 2,113 $ 4,859 Lease Term and Discount Rate As of June 30, 2019 Weighted average remaining lease term (years) 4.11 Weighted average discount rate 3.50 % The Company’s lease arrangements that have not yet commenced as of June 30, 2019 and the Company’s short-term lease costs and variable lease costs, for the three and six months ended June 30, 2019 are not material to the consolidated financial statements. The future lease payments required for leases that have initial or remaining As of June 30, 2019 (Dollars in thousands) Year: 2019 (excluding the six months ended June 30, 2019) $ 3,997 2020 6,604 2021 4,806 2022 3,622 2023 1,941 Thereafter 2,241 Total future lease payments 23,211 Less: Imputed interest (2,054) Present value of lease liabilities $ 21,157 |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | 13. REVENUE RECOGNITION On January 1, 2018, the Company adopted ASU No. 2014-09 “Revenue from Contracts with Customers (Topic 606)” and all subsequent ASUs that modified Topic 606. Refer to Note 3 – Summary of Significant Accounting Policies Revenue Recognition The following presents noninterest income, segregated by revenue streams in-scope out-of-scope For the Three Months Ended For the Six Months Ended June 30, June 30, 2019 2018 2019 2018 (Dollars in thousands) Noninterest income: In-scope of Topic 606: Service charges on deposit accounts $ 5,065 $ 4,091 $ 10,206 $ 8,136 Trust and investment services 2,452 2,399 4,634 4,556 Bankcard services 1,027 958 1,977 1,762 Gain on OREO, net 24 - 129 3,540 Other 2,603 1,178 4,647 2,569 Noninterest Income (in-scope 11,171 8,626 21,593 20,563 Noninterest Income (out-of-scope 7,034 1,069 12,915 2,048 Total noninterest income $ 18,205 $ 9,695 $ 34,508 $ 22,611 |
Accounting policies (Policies)
Accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
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 Standards 2017-12, 2017-12 non-financial 2017-12 In June 2018, the FASB issued ASU No. 2018-07, 2018-07 re-measured 2018-07 In February 2016, FASB issued ASU No. 2016-02, 2016-02 right-of-use 2018-10, 2018-10 2016-02. In July 2018, the FASB issued ASU No. 2018-11, 2016-02, non-lease 2018-11: non-lease 2016-02. Practical Expedients non-lease The Company’s leasing portfolio consists of real estate leases, which are used primarily for the banking operations of the Company. All leases in the current portfolio have been classified as operating leases, although this may change in the future. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. The adoption of this ASU during the first quarter of 2019 did not have a material impact on the Company’s consolidated financial statements. At adoption, the Company recognized a lease liability and a corresponding ROU asset of approximately $20 million on the consolidated balance sheet related to its future lease payments as a lessee under operating leases. See Note 13— Leases Operating lease ROU assets and lease liabilities are included in other assets other liabilities Recent Accounting Pronouncements In January 2017, the FASB issued ASU No. 2017-04, 2017-04 In August 2018, the FASB issued ASU No. 2018-13, 2018-13 |
Business Combinations (Tables)
Business Combinations (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The table below summarizes the amounts recognized for the estimated fair value of assets acquired and the liabilities assumed as of the acquisition date. August 10, 2018 (Dollars in thousands) Merger Consideration Cash paid $ 180,719 CVBF common stock issued 722,767 Total merger consideration $ 903,486 Identifiable net assets acquired, at fair value Assets Acquired Cash and cash equivalents 47,802 Investment securities 716,996 FHLB stock 17,250 Loans 2,738,100 Accrued interest receivable 7,916 Premises and equipment 14,632 BOLI 70,904 Core deposit intangible 52,200 Other assets 53,291 Total assets acquired 3,719,091 Liabilities assumed Deposits 2,869,986 FHLB advances 297,571 Other borrowings 166,000 Other liabilities 29,192 Total liabilities assumed 3,362,749 Total fair value of identifiable net assets, at fair value 356,342 Goodwill $ 547,144 |
Business Acquisition, Pro Forma Information [Table Text Block] | As a result, actual amounts would have differed from the unaudited pro forma information presented. Unaudited Pro Forma Three Months Ended Six Months Ended June 30, 2019 (Dollars in thousands, except per share amounts) Total revenues (net interest income plus noninterest income) $ 121,406 $ 244,379 Net income $ 46,960 $ 93,651 Earnings per share - basic $ 0.34 $ 0.67 Earnings per share - diluted $ 0.33 $ 0.67 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Amortized Cost and Estimated Fair Value of Investment Securities | The amortized cost and estimated fair value of investment securities are summarized below. The majority of securities held are available-for-sale June 30, 2019 Amortized Gross Holding Gain Gross Unrealized Holding Loss Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,348,415 $ 16,251 $ (2,417 ) $ 1,362,249 85.14% CMO/REMIC - residential 194,094 1,216 (334 ) 194,976 12.19% Municipal bonds 41,369 658 (41 ) 41,986 2.62% Other securities 809 - - 809 0.05% Total available-for-sale $ 1,584,687 $ 18,125 $ (2,792 ) $ 1,600,020 100.00% Investment securities held-to-maturity: Government agency/GSE $ 128,721 $ 2,627 $ (414 ) $ 130,934 17.68% Residential mortgage-backed securities 175,552 1,480 (415 ) 176,617 24.11% CMO 211,436 5 (4,358 ) 207,083 29.04% Municipal bonds 212,404 3,245 (1,251 ) 214,398 29.17% Total held-to-maturity $ 728,113 $ 7,357 $ (6,438 ) $ 729,032 100.00% December 31, 2018 Amortized Gross Holding Gain Gross Unrealized Holding Loss Fair Value Total Percent (Dollars in thousands) Investment securities available-for-sale: Residential mortgage-backed securities $ 1,494,106 $ 1,348 $ (20,946 ) $ 1,474,508 85.03% CMO/REMIC - residential 217,223 353 (3,525 ) 214,051 12.34% Municipal bonds 45,621 332 (1,143 ) 44,810 2.59% Other securities 716 - - 716 0.04% Total available-for-sale $ 1,757,666 $ 2,033 $ (25,614 ) $ 1,734,085 100.00% Investment securities held-to-maturity: Government agency/GSE $ 138,274 $ 572 $ (2,622 ) $ 136,224 18.57% Residential mortgage-backed securities 153,874 - (3,140 ) 150,734 20.67% CMO 215,336 - (12,081 ) 203,255 28.93% Municipal bonds 236,956 556 (6,188 ) 231,324 31.83% Total held-to-maturity $ 744,440 $ 1,128 $ (24,031 ) $ 721,537 100.00% |
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 For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Investment securities available-for-sale: Taxable $ 9,821 $ 11,290 $ 20,130 $ 22,735 Tax-advantaged 297 407 633 830 Total interest income from available-for-sale 10,118 11,697 20,763 23,565 Investment securities held-to-maturity: Taxable 2,932 3,048 5,842 5,926 Tax-advantaged 1,494 1,759 3,109 3,646 Total interest income from held-to-maturity 4,426 4,807 8,951 9,572 Total interest income from investment securities $ 14,544 $ 16,504 $ 29,714 $ 33,137 |
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 June 30, 2019 and December 31, 2018. 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”). June 30, 2019 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: Residential mortgage-backed securities $ - $ - $ 228,518 $ (2,417 ) $ 228,518 $ (2,417 ) CMO/REMIC - residential - - 71,924 (334 ) 71,924 (334 ) Municipal bonds - - 3,287 (41 ) 3,287 (41 ) Total available-for-sale $ - $ - $ 303,729 $ (2,792 ) $ 303,729 $ (2,792 ) Investment securities held-to-maturity: Government agency/GSE $ - $ - $ 39,016 $ (414 ) $ 39,016 $ (414 ) Residential mortgage-backed securities 10,722 (45 ) 75,536 (370 ) 86,258 (415 ) CMO - - 201,974 (4,358 ) 201,974 (4,358 ) Municipal bonds - - 49,102 (1,251 ) 49,102 (1,251 ) Total held-to-maturity $ 10,722 $ (45 ) $ 365,628 $ (6,393 ) $ 376,350 $ (6,438 ) December 31, 2018 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: Residential mortgage-backed securities $ 692,311 $ (4,864) $ 593,367 $ (16,082) $ 1,285,678 $ (20,946) CMO/REMIC - residential 36,582 (365) 135,062 (3,160) 171,644 (3,525) Municipal bonds 9,568 (188) 14,181 (955) 23,749 (1,143) Total available-for-sale $ 738,461 $ (5,417) $ 742,610 $ (20,197) $ 1,481,071 $ (25,614) Investment securities held-to-maturity: Government agency/GSE $ 7,479 $ (15) $ 54,944 $ (2,607) $ 62,423 $ (2,622) Residential mortgage-backed securities 59,871 (484) 90,863 (2,656) 150,734 (3,140) CMO - - 203,254 (12,081) 203,254 (12,081) Municipal bonds 70,989 (778) 77,723 (5,410) 148,712 (6,188) Total held-to-maturity $ 138,339 $ (1,277) $ 426,784 $ (22,754) $ 565,123 $ (24,031) |
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. June 30, 2019 Available-for-sale Held-to-maturity Amortized Fair Value Amortized Fair Value (Dollars in thousands) Due in one year or less $ 14,715 $ 14,896 $ 500 $ 503 Due after one year through five years 1,427,215 1,441,490 315,591 311,769 Due after five years through ten years 114,977 115,535 187,726 189,711 Due after ten years 27,780 28,099 224,296 227,049 Total investment securities $ 1,584,687 $ 1,600,020 $ 728,113 $ 729,032 |
Loans and Lease Finance Recei_2
Loans and Lease Finance Receivables and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Summary of Components of Loans and Lease Finance Receivables, Excluding PCI Loans | The following table provides a summary of the Company’s total loans and lease finance receivables by type. June 30, 2019 December 31, 2018 Total Loans Non-PCI PCI Loans Total Loans (Dollars in thousands) Commercial and industrial $ 917,953 $ 1,002,209 $ 519 $ 1,002,728 SBA 327,606 350,043 1,258 351,301 Real estate: Commercial real estate 5,417,351 5,394,229 14,407 5,408,636 Construction 116,457 122,782 - 122,782 SFR mortgage 278,285 296,504 145 296,649 Dairy & livestock and agribusiness 301,752 393,843 700 394,543 Municipal lease finance receivables 59,985 64,186 - 64,186 Consumer and other loans 120,779 128,429 185 128,614 Gross loans 7,540,168 7,752,225 17,214 7,769,439 Less: Deferred loan fees, net (4,478 ) (4,828 ) - (4,828 ) Gross loans, net of deferred loan fees 7,535,690 7,747,397 17,214 7,764,611 Less: Allowance for loan losses (67,132 ) (63,409 ) (204 ) (63,613 ) Total loans and lease finance receivables $ 7,468,558 $ 7,683,988 $ 17,010 $ 7,700,998 |
Summary of Loan, Excluding PCI Loans by Internal Risk Ratings | The following table summarizes loans by type, according to our internal risk ratings for the periods presented. June 30, 2019 Pass Special Substandard (1) Doubtful & Total (Dollars in thousands) Commercial and industrial $ 883,044 $ 28,611 $ 6,298 $ - $ 917,953 SBA 303,947 14,444 9,215 - 327,606 Real estate: Commercial real estate Owner occupied 1,985,951 87,246 20,446 - 2,093,643 Non-owner 3,310,103 12,850 755 - 3,323,708 Construction Speculative 93,170 - - - 93,170 Non-speculative 23,287 - - - 23,287 SFR mortgage 272,767 2,158 3,360 - 278,285 Dairy & livestock and agribusiness 239,481 54,003 8,268 - 301,752 Municipal lease finance receivables 59,481 504 - - 59,985 Consumer and other loans 118,706 1,019 1,054 - 120,779 Total gross loans $ 7,289,937 $ 200,835 $ 49,396 $ - $ 7,540,168 (1) Includes $ 19.9 December 31, 2018 (1) Pass Special Substandard (2) Doubtful & Total (Dollars in thousands) Commercial and industrial $ 961,909 $ 29,358 $ 10,942 $ - $ 1,002,209 SBA 336,033 7,375 6,635 - 350,043 Real estate: Commercial real estate Owner occupied 2,008,169 95,841 13,980 - 2,117,990 Non-owner 3,260,822 9,938 5,479 - 3,276,239 Construction Speculative 118,233 - - - 118,233 Non-speculative 4,549 - - - 4,549 SFR mortgage 289,607 3,310 3,587 - 296,504 Dairy & livestock and agribusiness 350,044 34,586 9,213 - 393,843 Municipal lease finance receivables 63,650 536 - - 64,186 Consumer and other loans 126,085 1,263 1,081 - 128,429 Total gross loans $ 7,519,101 $ 182,207 $ 50,917 $ - $ 7,752,225 (1) Excludes PCI loans of $17.2 million as of December 31, 2018, of which $15.8 million were rated pass, $1.2 million were rated special mention, $224,000 were rated substandard, and zero were rated doubtful & loss. (2) Includes $19.0 million of classified loans acquired from CB in the third quarter of 2018. |
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 loans by type for the periods presented. For the Three Months Ended June 30, 2019 Ending Balance Charge-offs Recoveries Provision for (Recapture of) Loan Losses Ending Balance (Dollars in thousands) Commercial and industrial $ 7,608 $ (48 ) $ 49 $ 248 $ 7,857 SBA 1,294 (210 ) 4 31 1,119 Real estate: Commercial real estate 46,227 - - 2,060 48,287 Construction 864 - 3 4 871 SFR mortgage 2,189 - 115 19 2,323 Dairy & livestock and agribusiness 5,699 - 19 (377 ) 5,341 Municipal lease finance receivables 738 - - (12 ) 726 Consumer and other loans 582 (3 ) 2 27 608 Total allowance for loan losses $ 65,201 $ (261 ) $ 192 $ 2,000 $ 67,132 For the Three Months Ended June 30, 2018 Ending Balance 2018 Charge-offs Recoveries (Recapture of) Provision for Loan Losses Ending Balance (Dollars in thousands) Commercial and industrial $ 7,499 $ - $ 27 $ (556 ) $ 6,970 SBA 884 - 5 (48 ) 841 Real estate: Commercial real estate 41,863 - - 734 42,597 Construction 987 - 596 (580 ) 1,003 SFR mortgage 2,202 - - (47 ) 2,155 Dairy & livestock and agribusiness 4,666 - 19 (334 ) 4,351 Municipal lease finance receivables 834 - - (26 ) 808 Consumer and other loans 688 (2 ) 3 (47 ) 642 PCI loans 312 - - (96 ) 216 Total allowance for loan losses $ 59,935 $ (2 ) $ 650 $ (1,000 ) $ 59,583 For the Six Months Ended June 30, 2019 Ending Balance Charge-offs Recoveries Provision for (Recapture of) Loan Losses Ending Balance (Dollars in thousands) Commercial and industrial $ 7,528 $ (48 ) $ 159 $ 218 $ 7,857 SBA 1,078 (230 ) 9 262 1,119 Real estate: Commercial real estate 45,097 - - 3,190 48,287 Construction 981 - 6 (116 ) 871 SFR mortgage 2,197 - 183 (57 ) 2,323 Dairy & livestock and agribusiness 5,225 (78 ) 19 175 5,341 Municipal lease finance receivables 775 - - (49 ) 726 Consumer and other loans 732 (4 ) 3 (123 ) 608 Total allowance for loan losses $ 63,613 $ (360 ) $ 379 $ 3,500 $ 67,132 For the Six Months Ended June 30, 2018 Ending Balance Charge-offs Recoveries (Recapture of) Provision for Loan Losses Ending Balance (Dollars in thousands) Commercial and industrial $ 7,280 $ - $ 37 $ (347 ) $ 6,970 SBA 869 - 10 (38 ) 841 Real estate: Commercial real estate 41,722 - - 875 42,597 Construction 984 - 1,930 (1,911 ) 1,003 SFR mortgage 2,112 - - 43 2,155 Dairy & livestock and agribusiness 4,647 - 19 (315 ) 4,351 Municipal lease finance receivables 851 - - (43 ) 808 Consumer and other loans 753 (9 ) 11 (113 ) 642 PCI loans 367 - - (151 ) 216 Total allowance for loan losses $ 59,585 $ (9 ) $ 2,007 $ (2,000 ) $ 59,583 |
Schedule of Recorded Investment in Loans Held-for-Investment and Related Allowance for Loan Losses by Loan Type | June 30, 2019 Recorded Investment in Loans Allowance for Loan Losses Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment (Dollars in thousands) Commercial and industrial $ 2,088 $ 915,865 $ 276 $ 7,581 SBA 5,632 321,974 93 1,026 Real estate: Commercial real estate 1,531 5,415,820 - 48,287 Construction - 116,457 - 871 SFR mortgage 4,858 273,427 - 2,323 Dairy & livestock and agribusiness - 301,752 - 5,341 Municipal lease finance receivables - 59,985 - 726 Consumer and other loans 397 120,382 2 606 Total $ 14,506 $ 7,525,662 $ 371 $ 66,761 June 30, 2018 Recorded Investment in Loans Allowance for Loan Losses Individually for Impairment Collectively Acquired with Individually Collectively Acquired with (Dollars in thousands) Commercial and industrial $ 355 $ 508,833 $ - $ - $ 6,970 $ - SBA 1,174 119,874 - - 841 - Real estate: Commercial real estate 7,741 3,446,289 - - 42,597 - Construction - 84,400 - - 1,003 - SFR mortgage 4,133 233,021 - 13 2,142 - Dairy & livestock and agribusiness 800 267,689 - - 4,351 - Municipal lease finance receivables - 67,721 - - 808 - Consumer and other loans 509 60,366 - 3 639 - PCI loans - - 19,426 - - 216 Total $ 14,712 $ 4,788,193 $ 19,426 $ 16 $ 59,351 $ 216 |
Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans | June 30, 2019 30-59 60-89 Total Past Due Nonaccrual (1) (3) Current Total Loans (Dollars in thousands) Commercial and industrial $ 300 $ 10 $ 310 $ 1,993 $ 915,650 $ 917,953 SBA - - - 5,082 322,524 327,606 Real estate: Commercial real estate Owner occupied - - - 502 2,093,141 2,093,643 Non-owner - - - 593 3,323,115 3,323,708 Construction Speculative (2) - - - - 93,170 93,170 Non-speculative - - - - 23,287 23,287 SFR mortgage - - - 2,720 275,565 278,285 Dairy & livestock and agribusiness - - - - 301,752 301,752 Municipal lease finance receivables - - - - 59,985 59,985 Consumer and other loans 22 - 22 397 120,360 120,779 Total gross loans $ 322 $ 10 $ 332 $ 11,287 $ 7,528,549 $ 7,540,168 (1) As of June 30, 2019, $2.8 million of nonaccruing loans were current, $360,000 were 30-59 832,000 60-89 (2) Speculative construction loans are generally for properties where there is no identified buyer or renter. (3) Includes $8.4 million of nonaccrual loans acquired from CB in the third quarter of 2018. December 31, 2018 (1) 30-59 60-89 Total Past Due Nonaccrual (2) (4) Current Total Loans (Dollars in thousands) Commercial and industrial $ 820 $ 89 $ 909 $ 7,490 $ 993,810 $ 1,002,209 SBA 1,172 135 1,307 2,892 345,844 350,043 Real estate: Commercial real estate Owner occupied 2,439 350 2,789 589 2,114,612 2,117,990 Non-owner - - - 5,479 3,270,760 3,276,239 Construction Speculative (3) - - - - 118,233 118,233 Non-speculative - - - - 4,549 4,549 SFR mortgage - 285 285 2,937 293,282 296,504 Dairy & livestock and agribusiness - - - 78 393,765 393,843 Municipal lease finance receivables - - - - 64,186 64,186 Consumer and other loans - - - 486 127,943 128,429 Total gross loans $ 4,431 $ 859 $ 5,290 $ 19,951 $ 7,726,984 $ 7,752,225 (1) Excludes PCI loans. (2) As of December 31, 2018, $2.3 million of nonaccruing loans were current, $33,000 were 30-59 60-89 (3) Speculative construction loans are generally for properties where there is no identified buyer or renter. (4) Includes $12.3 million of nonaccrual loans acquired from CB in the third quarter of 2018. As of and For the Six Months Ended June 30, 2018 (1) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 355 $ 864 $ - $ 378 $ 4 SBA 1,174 1,302 - 1,204 23 Real estate: Commercial real estate Owner occupied 4,294 4,747 - 4,331 - Non-owner 3,447 4,894 - 3,565 44 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 4,120 4,860 - 4,159 55 Dairy & livestock and agribusiness 800 1,091 - 819 - Municipal lease finance receivables - - - - - Consumer and other loans 506 716 - 568 - Total 14,696 18,474 - 15,024 126 With a related allowance recorded: Commercial and industrial - - - - - SBA - - - - - Real estate: Commercial real estate Owner occupied - - - - - Non-owner - - - - - Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 13 13 13 13 - Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 3 3 3 3 - Total 16 16 16 16 - Total impaired loans $ 14,712 $ 18,490 $ 16 $ 15,040 $ 126 (1) Excludes PCI loans. |
Schedule of Held-for-Investment Loans, Individually Evaluated for Impairment by Class of Loans | As of and For the Six Months Ended June 30, 2019 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 898 $ 1,033 $ - $ 1,022 $ 2 SBA 4,369 5,714 - 3,703 21 Real estate: Commercial real estate Owner occupied 502 616 - 515 - Non-owner 1,029 1,209 - 1,068 14 Construction Speculative - - - - - Non-speculative - - - - - SFR mortgage 4,858 5,467 - 4,893 42 Dairy & livestock and agribusiness - - - - - Municipal lease finance receivables - - - - - Consumer and other loans 395 518 - 407 - Total 12,051 14,557 - 11,608 79 With a related allowance recorded: Commercial and industrial 1,190 1,263 276 1,251 - SBA 1,263 1,534 93 1,179 - 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 2 3 2 2 - Total 2,455 2,800 371 2,432 - Total impaired loans $ 14,506 $ 17,357 $ 371 $ 14,040 $ 79 As of December 31, 2018 (1) Recorded Investment Unpaid Principal Balance Related Allowance (Dollars in thousands) With no related allowance recorded: Commercial and industrial $ 7,436 $ 11,457 $ - SBA 3,467 5,746 - Real estate: Commercial real estate Owner occupied 589 705 - Non-owner 2,808 4,324 - Construction Speculative - - - Non-speculative - - - SFR mortgage 5,349 6,270 - Dairy & livestock and agribusiness - - - Municipal lease finance receivables - - - Consumer and other loans 418 526 - Total 20,067 29,028 - With a related allowance recorded: Commercial and industrial 189 191 3 SBA - - - Real estate: Commercial real estate Owner occupied - - - Non-owner 3,143 3,144 478 Construction Speculative - - - Non-speculative - - - SFR mortgage - - - Dairy & livestock and agribusiness 78 78 12 Municipal lease finance receivables - - - Consumer and other loans 68 100 68 Total 3,478 3,513 561 Total impaired loans $ 23,545 $ 32,541 $ 561 (1) Excludes PCI loans. |
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 For the Six Months Ended 2019 2018 (1) 2019 2018 (1) (Dollars in thousands) Performing TDRs: Beginning balance $ 3,299 $ 4,285 $ 3,594 $ 4,809 New modifications - 311 - 311 Payoffs/payments, net and other (80 ) (66 ) (375 ) (590 ) TDRs returned to accrual status - - - - TDRs placed on nonaccrual status - - - - Ending balance $ 3,219 $ 4,530 $ 3,219 $ 4,530 Nonperforming TDRs: Beginning balance $ 277 $ 3,909 $ 3,509 $ 4,200 New modifications - 38 - 38 Charge-offs - - (78 ) - Transfer to OREO - - (2,275 ) - Payoffs/payments, net and other (14 ) (55 ) (893 ) (346 ) TDRs returned to accrual status - - - - TDRs placed on nonaccrual status - - - - Ending balance $ 263 $ 3,892 $ 263 $ 3,892 Total TDRs $ 3,482 $ 8,422 $ 3,482 $ 8,422 (1) Excludes PCI loans. |
Summary of Loans Modified as Troubled Debt Restructurings | The following tables summarize loans modified as TDRs for the periods presented. Modifications (1) For the Three Months Ended June 30, 2018 (2) Number of Pre-Modification Post-Modification Investment Outstanding June 30, 2018 Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity 1 38 38 31 - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity 1 311 311 307 - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Total loans 2 $ 349 $ 349 $ 338 $ - For the Six Months Ended June 30, 2018 (2) Number of Pre-Modification Post-Modification Investment Outstanding June 30, 2018 Financial Effect (Dollars in thousands) Commercial and industrial: Interest rate reduction - $ - $ - $ - $ - Change in amortization period or maturity 1 38 38 31 - Real estate: Commercial real estate: Owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Non-owner occupied Interest rate reduction - - - - - Change in amortization period or maturity - - - - - SFR mortgage: Interest rate reduction - - - - - Change in amortization period or maturity 1 311 311 307 - Consumer: Interest rate reduction - - - - - Change in amortization period or maturity - - - - - Total loans 2 $ 349 $ 349 $ 338 $ - (1) The tables above exclude modified loans that were paid off prior to the end of the period. (2) Excludes PCI loans. (3) Financial effects resulting from modifications represent charge-offs and specific allowance recorded at modification date. |
Earnings Per Share Reconcilia_2
Earnings Per Share Reconciliation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 (In thousands, except per share amounts) Earnings per common share: Net earnings $ 54,481 $ 35,373 $ 106,123 $ 70,286 Less: Net earnings allocated to restricted stock 134 94 276 202 Net earnings allocated to common shareholders $ 54,347 $ 35,279 $ 105,847 $ 70,084 Weighted average shares outstanding 139,748 109,983 139,682 109,921 Basic earnings per common share $ 0.39 $ 0.32 $ 0.76 $ 0.64 Diluted earnings per common share: Net income allocated to common shareholders 54,347 35,279 105,847 70,084 Weighted average shares outstanding 139,748 109,983 139,682 109,921 Incremental shares from assumed exercise of outstanding options 149 372 179 418 Diluted weighted average shares outstanding 139,897 110,355 139,861 110,339 Diluted earnings per common share $ 0.39 $ 0.32 $ 0.76 $ 0.64 |
Fair Value Information (Tables)
Fair Value Information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Carrying Value at Quoted Prices in Active Markets for Significant Other Significant June 30, 2019 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Residential mortgage-backed securities $ 1,362,249 $ - $ 1,362,249 $ - CMO/REMIC - residential 194,976 - 194,976 - Municipal bonds 41,986 - 41,986 - Other securities 809 - 809 - Total investment securities - AFS 1,600,020 - 1,600,020 - Interest rate swaps 10,744 - 10,744 - Total assets $ 1,610,764 $ - $ 1,610,764 $ - Description of liability Interest rate swaps $ 10,744 $ - $ 10,744 $ - Total liabilities $ 10,744 $ - $ 10,744 $ - Carrying Value at Quoted Prices in Active Markets for Significant Other Significant December 31, 2018 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Description of assets Investment securities - AFS: Residential mortgage-backed securities $ 1,474,508 $ - $ 1,474,508 $ - CMO/REMIC - residential 214,051 - 214,051 - Municipal bonds 44,810 - 44,810 - Other securities 716 - 716 - Total investment securities - AFS 1,734,085 - 1,734,085 - Interest rate swaps 1,938 - 1,938 - Total assets $ 1,736,023 $ - $ 1,736,023 $ - Description of liability Interest rate swaps $ 1,938 $ - $ 1,938 $ - Total liabilities $ 1,938 $ - $ 1,938 $ - |
Assets and Liabilities Measured at Fair Value on Non-Recurring Basis | the following tables provide the level of valuation assumptions used to determine each adjustment and the carrying value of the related assets that had losses during the period. Carrying Value at Quoted Prices in Active Markets for Significant Other Significant Total Losses (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ 1,190 $ - $ - $ 1,190 $ 276 SBA 1,153 - - 1,153 323 Real estate: Commercial real estate - - - - - Construction - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness - - - - - Consumer and other loans 2 - - 2 2 Other real estate owned - - - - - Asset held-for-sale - - - - - Total assets $ 2,345 $ - $ - $ 2,345 $ 601 Carrying Value at Quoted Prices in Active Markets for Significant Other Significant Total Losses For (Dollars in thousands) Description of assets Impaired loans, excluding PCI loans: Commercial and industrial $ 189 $ - $ - $ 189 $ 3 SBA - - - - - Real estate: Commercial real estate 3,143 - - 3,143 478 Construction - - - - - SFR mortgage - - - - - Dairy & livestock and agribusiness 78 - - 78 12 Consumer and other loans 68 - - 68 68 Other real estate owned - - - - - Asset held-for-sale - - - - - Total assets $ 3,478 $ - $ - $ 3,478 $ 561 |
Estimated 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 June 30, 2019 and December 31, 2018, respectively. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. June 30, 2019 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and cash equivalents $ 175,840 $ 175,840 $ - $ - $ 175,840 Interest-earning 6,425 - 6,295 - 6,295 Investment securities available-for-sale 1,600,020 - 1,600,020 - 1,600,020 Investment securities held-to-maturity 728,113 - 729,032 - 729,032 Total loans, net of allowance for loan losses 7,468,558 - - 7,433,835 7,433,835 Swaps 10,744 - 10,744 - 10,744 Liabilities Deposits: Interest-bearing $ 3,412,588 $ - $ 3,409,516 $ - $ 3,409,516 Borrowings 421,271 - 420,841 - 420,841 Junior subordinated debentures 25,774 - - 20,703 20,703 Swaps 10,744 - 10,744 - 10,744 December 31, 2018 Estimated Fair Value Carrying Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets Total cash and due from banks $ 163,948 $ 163,948 $ - $ - $ 163,948 Interest-earning balances due from depository 7,670 - 7,339 - 7,339 Investment securities available-for-sale 1,734,085 - 1,734,085 - 1,734,085 Investment securities held-to-maturity 744,440 - 721,537 - 721,537 Total loans, net of allowance for loan losses 7,700,998 - - 7,514,964 7,514,964 Swaps 1,938 - 1,938 - 1,938 Liabilities Deposits: Interest-bearing $ 3,622,703 $ - $ 3,614,682 $ - $ 3,614,682 Borrowings 722,255 - 721,601 - 721,601 Junior subordinated debentures 25,774 - - 21,176 21,176 Swaps 1,938 - 1,938 - 1,938 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Instruments | As of June 30, 2019 and December 31, 2018, the total notional amount of the Company’s swaps was $224.8 million, and $195.4 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below. June 30, 2019 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 10,744 Other liabilities $ 10,744 Total derivatives $ 10,744 $ 10,744 December 31, 2018 Asset Derivatives Liability Derivatives Balance Sheet Fair Balance Sheet Fair (Dollars in thousands) Derivatives not designated as hedging instruments: Interest rate swaps Other assets $ 1,938 Other liabilities $ 1,938 Total derivatives $ 1,938 $ 1,938 |
Effect of Derivative Instruments on Consolidated Statement of Earnings | The following table summarizes the effect of derivative financial instruments on the condensed consolidated statement of earnings for the periods presented. Derivatives Not Designated as Hedging Instruments Location of Gain Recognized in Income on Derivative Instruments Amount of Gain Recognized in Income on Derivative Instruments For the Three Months Ended For the Six Months Ended June 30, 2019 2018 2019 2018 (Dollars in thousands) Interest rate swaps Other income $ 373 $ 151 $ 757 $ 267 Total $ 373 $ 151 $ 757 $ 267 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 2018 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 $ 19,564 $ (5,784 ) $ 13,780 $ (5,773 ) $ 1,707 $ (4,066 ) Amortization of unrealized losses on securities transferred from available-for-sale held-to-maturity (78 ) 23 (55 ) (825 ) 244 (581 ) Net change $ 19,486 $ (5,761 ) $ 13,725 $ (6,598 ) $ 1,951 $ (4,647 ) For the Six Months Ended June 30, 2019 2018 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 $ 38,914 $ (11,504 ) $ 27,410 $ (37,111 ) $ 10,972 $ (26,139 ) Amortization of unrealized losses on securities transferred from available-for-sale held-to-maturity (1,201 ) 355 (846 ) (1,657 ) 490 (1,167 ) Net change $ 37,713 $ (11,149 ) $ 26,564 $ (38,768 ) $ 11,462 $ (27,306 ) |
Balance Sheet Offsetting (Table
Balance Sheet Offsetting (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Text Block [Abstract] | |
Schedule of Balance Sheet Offsetting | Gross Amounts Gross Amounts Net Amounts Presented in the Gross Amounts Not Offset in the the Condensed Condensed Condensed Financial Collateral Pledged Net Amount (Dollars in thousands) June 30, 2019 Financial assets: Derivatives not designated as hedging instruments $ 10,744 $ - $ - $ 10,744 $ - $ 10,744 Total $ 10,744 $ - $ - $ 10,744 $ - $ 10,744 Financial liabilities: Derivatives not designated as hedging instruments $ 10,851 $ (107 ) $ 10,744 $ 107 $ (14,962 ) $ (4,111 ) Repurchase agreements 421,271 - 421,271 - (424,648 ) (3,377 ) Total $ 432,122 $ (107 ) $ 432,015 $ 107 $ (439,610 ) $ (7,488 ) December 31, 2018 Financial assets: Derivatives not designated as hedging instruments $ 1,938 $ - $ - $ 1,938 $ - $ 1,938 Total $ 1,938 $ - $ - $ 1,938 $ - $ 1,938 Financial liabilities: Derivatives not designated as hedging instruments $ 4,203 $ (2,265 ) $ 1,938 $ 2,265 $ - $ 4,203 Repurchase agreements 442,255 - 442,255 - (487,607 ) (45,352 ) Total $ 446,458 $ (2,265 ) $ 444,193 $ 2,265 $ (487,607 ) $ (41,149 ) |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Components of lease costs and supplemental information related to leases | The following presents the components of lease costs and supplemental information related to leases as of June 30, 2019 and for the three and six months ended June 30, 2019. As of June 30, 2019 (Dollars in thousands) Lease Assets and Liabilities ROU assets $ 17,959 Total lease liabilities 21,157 For the Three Months Ended For the Six Months Ended June 30, 2019 (Dollars in thousands) Lease Cost Operating lease expense (1) $ 1,906 $ 4,006 Sublease income - - Total lease expense $ 1,906 $ 4,006 (1) Includes short-term leases and variable lease costs, which are immaterial. Other Information Cash paid for amounts included in the measurement of lease Operating cash outflows from operating leases $ 2,113 $ 4,859 Lease Term and Discount Rate As of June 30, 2019 Weighted average remaining lease term (years) 4.11 Weighted average discount rate 3.50 % |
Future lease payments required for leases that have initial or remaining non-cancelable lease terms | The future lease payments required for leases that have initial or remaining As of June 30, 2019 (Dollars in thousands) Year: 2019 (excluding the six months ended June 30, 2019) $ 3,997 2020 6,604 2021 4,806 2022 3,622 2023 1,941 Thereafter 2,241 Total future lease payments 23,211 Less: Imputed interest (2,054) Present value of lease liabilities $ 21,157 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Non Interest Income, Segregated by Revenue Streams in-Scope and Out-of-Scope of Topic 606 | The following presents noninterest income, segregated by revenue streams in-scope out-of-scope For the Three Months Ended For the Six Months Ended June 30, June 30, 2019 2018 2019 2018 (Dollars in thousands) Noninterest income: In-scope of Topic 606: Service charges on deposit accounts $ 5,065 $ 4,091 $ 10,206 $ 8,136 Trust and investment services 2,452 2,399 4,634 4,556 Bankcard services 1,027 958 1,977 1,762 Gain on OREO, net 24 - 129 3,540 Other 2,603 1,178 4,647 2,569 Noninterest Income (in-scope 11,171 8,626 21,593 20,563 Noninterest Income (out-of-scope 7,034 1,069 12,915 2,048 Total noninterest income $ 18,205 $ 9,695 $ 34,508 $ 22,611 |
Business - Additional Informati
Business - Additional Information (Detail) $ in Millions | Jun. 30, 2019SubsidiaryLocation | Aug. 10, 2018USD ($) |
Schedule Of Description Of Company [Line Items] | ||
Number of inactive subsidiaries | Subsidiary | 1 | |
Bank operated banking centers | 58 | |
Bank operated trust office locations, number | 3 | |
Community Bank [Member] | ||
Schedule Of Description Of Company [Line Items] | ||
Bank operated banking centers | 16 | |
Total assets | $ | $ 4,090 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands | Jun. 30, 2019USD ($) |
Summary Of Significant Accounting Policies [Line Items] | |
Operating Lease, Right-of-Use Asset | $ 17,959 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) | Aug. 10, 2018USD ($)Branch | Jun. 30, 2019USD ($)Branch | Jun. 30, 2018USD ($) | Jun. 30, 2019USD ($)Branch | Jun. 30, 2018USD ($) | Dec. 31, 2018USD ($) |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 663,707,000 | $ 663,707,000 | $ 666,539,000 | |||
Merger related expenses | $ 2,612,000 | $ 494,000 | $ 5,761,000 | $ 1,297,000 | ||
Community Bank [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Acquisition date | Aug. 10, 2018 | |||||
Number of branches owned by merger company | Branch | 16 | 10 | 10 | |||
Acquired assets and assumed liabilities for cash | $ 180,719,000 | |||||
Assets and assumed all of the liabilities, stock | 722,767,000 | |||||
Goodwill | 547,144,000 | |||||
Core deposit intangible assets | $ 52,200,000 | |||||
Percentage of core deposits to total deposits | 2.26% | |||||
Merger related expenses | $ 2,600,000 | $ 494,000 | $ 5,800,000 | $ 1,300,000 | ||
Gross contractual amount receivable, as of acquisition date | $ 3,000,000,000 | |||||
Contractual principal cash flows, loans not expected to be collected | $ 4,500,000 |
Business Combinaions - Schedule
Business Combinaions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Aug. 10, 2018 | Jun. 30, 2019 | Dec. 31, 2018 |
Liabilities assumed | |||
Goodwill | $ 663,707 | $ 666,539 | |
Community Bank [Member] | |||
Merger Consideration | |||
Cash paid | $ 180,719 | ||
CVBF common stock issued | 722,767 | ||
Total merger consideration | 903,486 | ||
Assets Acquired | |||
Cash and cash equivalents | 47,802 | ||
Investment securities | 716,996 | ||
FHLB stock | 17,250 | ||
Loans | 2,738,100 | ||
Accrued interest receivable | 7,916 | ||
Premises and equipment | 14,632 | ||
BOLI | 70,904 | ||
Core deposit intangible | 52,200 | ||
Other assets | 53,291 | ||
Total assets acquired | 3,719,091 | ||
Liabilities assumed | |||
Deposits | 2,869,986 | ||
FHLB advances | 297,571 | ||
Other borrowings | 166,000 | ||
Other liabilities | 29,192 | ||
Total liabilities assumed | 3,362,749 | ||
Total fair value of identifiable net assets, at fair value | 356,342 | ||
Goodwill | $ 547,144 |
Business Combinations - Busines
Business Combinations - Business Acquisition Pro Forma Information (Detail) - Community Bank [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Business Acquisitions ProForma Information [Line Items] | ||
Total revenues (net interest income plus noninterest income) | $ 121,406 | $ 244,379 |
Net income | $ 46,960 | $ 93,651 |
Earnings per share - basic | $ 0.34 | $ 0.67 |
Earnings per share - diluted | $ 0.33 | $ 0.67 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Investment Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 1,584,687 | $ 1,757,666 |
Gross Unrealized Holding Gain, Available-for-sale | 18,125 | 2,033 |
Gross Unrealized Holding Loss, Available-for-sale | (2,792) | (25,614) |
Fair Value, Available-for-sale | $ 1,600,020 | $ 1,734,085 |
Total Percent, Available-for-sale | 100.00% | 100.00% |
Amortized Cost, Held-to-maturity | $ 728,113 | $ 744,440 |
Gross Unrealized Holding Gain, Held-to-maturity | 7,357 | 1,128 |
Gross Unrealized Holding Loss, Held-to-maturity | (6,438) | (24,031) |
Fair Value, Held-to-maturity | $ 729,032 | $ 721,537 |
Total Percent, Held-to-maturity | 100.00% | 100.00% |
CMO/REMIC - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 194,094 | $ 217,223 |
Gross Unrealized Holding Gain, Available-for-sale | 1,216 | 353 |
Gross Unrealized Holding Loss, Available-for-sale | (334) | (3,525) |
Fair Value, Available-for-sale | $ 194,976 | $ 214,051 |
Total Percent, Available-for-sale | 12.19% | 12.34% |
Amortized Cost, Held-to-maturity | $ 211,436 | $ 215,336 |
Gross Unrealized Holding Gain, Held-to-maturity | 5 | 0 |
Gross Unrealized Holding Loss, Held-to-maturity | (4,358) | (12,081) |
Fair Value, Held-to-maturity | $ 207,083 | $ 203,255 |
Total Percent, Held-to-maturity | 29.04% | 28.93% |
Government Agency/GSE [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Held-to-maturity | $ 128,721 | $ 138,274 |
Gross Unrealized Holding Gain, Held-to-maturity | 2,627 | 572 |
Gross Unrealized Holding Loss, Held-to-maturity | (414) | (2,622) |
Fair Value, Held-to-maturity | $ 130,934 | $ 136,224 |
Total Percent, Held-to-maturity | 17.68% | 18.57% |
Residential Mortgage-backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 1,348,415 | $ 1,494,106 |
Gross Unrealized Holding Gain, Available-for-sale | 16,251 | 1,348 |
Gross Unrealized Holding Loss, Available-for-sale | (2,417) | (20,946) |
Fair Value, Available-for-sale | $ 1,362,249 | $ 1,474,508 |
Total Percent, Available-for-sale | 85.14% | 85.03% |
Amortized Cost, Held-to-maturity | $ 175,552 | $ 153,874 |
Gross Unrealized Holding Gain, Held-to-maturity | 1,480 | 0 |
Gross Unrealized Holding Loss, Held-to-maturity | (415) | (3,140) |
Fair Value, Held-to-maturity | $ 176,617 | $ 150,734 |
Total Percent, Held-to-maturity | 24.11% | 20.67% |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 41,369 | $ 45,621 |
Gross Unrealized Holding Gain, Available-for-sale | 658 | 332 |
Gross Unrealized Holding Loss, Available-for-sale | (41) | (1,143) |
Fair Value, Available-for-sale | $ 41,986 | $ 44,810 |
Total Percent, Available-for-sale | 2.62% | 2.59% |
Amortized Cost, Held-to-maturity | $ 212,404 | $ 236,956 |
Gross Unrealized Holding Gain, Held-to-maturity | 3,245 | 556 |
Gross Unrealized Holding Loss, Held-to-maturity | (1,251) | (6,188) |
Fair Value, Held-to-maturity | $ 214,398 | $ 231,324 |
Total Percent, Held-to-maturity | 29.17% | 31.83% |
Other Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Amortized Cost, Available-for-sale | $ 809 | $ 716 |
Gross Unrealized Holding Gain, Available-for-sale | 0 | 0 |
Gross Unrealized Holding Loss, Available-for-sale | 0 | 0 |
Fair Value, Available-for-sale | $ 809 | $ 716 |
Total Percent, Available-for-sale | 0.05% | 0.04% |
Investment Securities - Summa_2
Investment Securities - Summary of Interest Income Earned on Investment Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net Investment Income [Line Items] | ||||
Total interest income from available-for-sale securities | $ 10,118 | $ 11,697 | $ 20,763 | $ 23,565 |
Total interest income from held-to-maturity securities | 4,426 | 4,807 | 8,951 | 9,572 |
Total investment income | 14,544 | 16,504 | 29,714 | 33,137 |
Investment securities available-for-sale [Member] | ||||
Net Investment Income [Line Items] | ||||
Taxable | 9,821 | 11,290 | 20,130 | 22,735 |
Tax-advantaged | 297 | 407 | 633 | 830 |
Investment securities held-to-maturity [Member] | ||||
Net Investment Income [Line Items] | ||||
Taxable | 2,932 | 3,048 | 5,842 | 5,926 |
Tax-advantaged | $ 1,494 | $ 1,759 | $ 3,109 | $ 3,646 |
Investment Securities - Summa_3
Investment Securities - Summary of Continuous Unrealized Loss Position of Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | $ 0 | $ 738,461 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | 0 | (5,417) |
Fair Value, 12 Months or Longer, Available-for-sale | 303,729 | 742,610 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (2,792) | (20,197) |
Fair Value, Available-for-sale | 303,729 | 1,481,071 |
Gross Unrealized Holding Losses, Available-for-sale | (2,792) | (25,614) |
Fair Value, Less Than 12 Months, Held-to-maturity | 10,722 | 138,339 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (45) | (1,277) |
Fair Value, 12 Months or Longer, Held-to-maturity | 365,628 | 426,784 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (6,393) | (22,754) |
Fair Value, Held-to-maturity | 376,350 | 565,123 |
Gross Unrealized Holding Losses, Held-to-maturity | (6,438) | (24,031) |
CMO/REMIC - Residential [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 0 | 36,582 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | 0 | (365) |
Fair Value, 12 Months or Longer, Available-for-sale | 71,924 | 135,062 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (334) | (3,160) |
Fair Value, Available-for-sale | 71,924 | 171,644 |
Gross Unrealized Holding Losses, Available-for-sale | (334) | (3,525) |
Fair Value, Less Than 12 Months, Held-to-maturity | 0 | 0 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | 0 | 0 |
Fair Value, 12 Months or Longer, Held-to-maturity | 201,974 | 203,254 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (4,358) | (12,081) |
Fair Value, Held-to-maturity | 201,974 | 203,254 |
Gross Unrealized Holding Losses, Held-to-maturity | (4,358) | (12,081) |
Government Agency/GSE [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Held-to-maturity | 0 | 7,479 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | 0 | (15) |
Fair Value, 12 Months or Longer, Held-to-maturity | 39,016 | 54,944 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (414) | (2,607) |
Fair Value, Held-to-maturity | 62,423 | |
Gross Unrealized Holding Losses, Held-to-maturity | (414) | (2,622) |
Residential Mortgage-backed Securities [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 0 | 692,311 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | 0 | (4,864) |
Fair Value, 12 Months or Longer, Available-for-sale | 228,518 | 593,367 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (2,417) | (16,082) |
Fair Value, Available-for-sale | 228,518 | 1,285,678 |
Gross Unrealized Holding Losses, Available-for-sale | (2,417) | (20,946) |
Fair Value, Less Than 12 Months, Held-to-maturity | 10,722 | 59,871 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | (45) | (484) |
Fair Value, 12 Months or Longer, Held-to-maturity | 75,536 | 90,863 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (370) | (2,656) |
Fair Value, Held-to-maturity | 86,258 | 150,734 |
Gross Unrealized Holding Losses, Held-to-maturity | (415) | (3,140) |
Municipal Bonds [Member] | ||
Schedule of Investments [Line Items] | ||
Fair Value, Less Than 12 Months, Available-for-sale | 0 | 9,568 |
Gross Unrealized Holding Losses, Less Than 12 Months, Available-for-sale | 0 | (188) |
Fair Value, 12 Months or Longer, Available-for-sale | 3,287 | 14,181 |
Gross Unrealized Holding Losses, 12 Months or Longer, Available-for-sale | (41) | (955) |
Fair Value, Available-for-sale | 3,287 | 23,749 |
Gross Unrealized Holding Losses, Available-for-sale | (41) | (1,143) |
Fair Value, Less Than 12 Months, Held-to-maturity | 0 | 70,989 |
Gross Unrealized Holding Losses, Less Than 12 Months, Held-to-maturity | 0 | (778) |
Fair Value, 12 Months or Longer, Held-to-maturity | 49,102 | 77,723 |
Gross Unrealized Holding Losses, 12 Months or Longer, Held-to-maturity | (1,251) | (5,410) |
Fair Value, Held-to-maturity | 49,102 | 148,712 |
Gross Unrealized Holding Losses, Held-to-maturity | $ (1,251) | $ (6,188) |
Investment Securities - Summa_4
Investment Securities - Summary of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost, Held-to-maturity | $ 500 | |
Due after one year through five years, Amortized Cost, Held-to-maturity | 315,591 | |
Due after five years through ten years, Amortized Cost, Held-to-maturity | 187,726 | |
Due after ten years, Amortized Cost, Held-to-maturity | 224,296 | |
Total Held-to-maturity, Debt Maturities, Amortized Cost Basis | 728,113 | |
Due in one year or less, Fair Value, Held-to-maturity | 503 | |
Due after one year through five years, Fair Value, Held-to-maturity | 311,769 | |
Due after five years through ten years, Fair Value, Held-to-maturity | 189,711 | |
Due after ten years, Fair Value, Held-to-maturity | 227,049 | |
Total, Held-to-maturity, Fair Value | 729,032 | |
Due in one year or less, Amortized Cost, Available-for-sale | 14,715 | |
Due after one year through five years, Amortized Cost, Available-for-sale | 1,427,215 | |
Due after five years through ten years, Amortized Cost, Available-for-sale | 114,977 | |
Due after ten years, Amortized Cost, Available-for-sale | 27,780 | |
Amortized Cost, Available-for-sale | 1,584,687 | $ 1,757,666 |
Due in one year or less, Fair Value, Available-for-sale | 14,896 | |
Due after one year through five years, Fair Value, Available-for-sale | 1,441,490 | |
Due after five years through ten years, Fair Value, Available-for-sale | 115,535 | |
Due after ten years, Fair Value, Available-for-sale | 28,099 | |
Total Available-for-sale Securities, Debt Maturities, Available-for-sale, Fair Value | $ 1,600,020 | $ 1,734,085 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Debt Securities, Available-for-sale [Line Items] | ||
Credit-related impairment loss on investment securities held-to-maturity | $ 0 | |
Investment securities pledged as collateral | $ 1,510,000,000 | $ 1,660,000,000 |
United States [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities issued by U.S. government percentage | 89.00% |
Loans and Lease Finance Recei_3
Loans and Lease Finance Receivables and Allowance for Loan Losses - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019USD ($)Contract | Jun. 30, 2018USD ($)Contract | Jun. 30, 2019USD ($)SecurityLoanContract | Jun. 30, 2018USD ($)Contract | Dec. 31, 2018USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial real estate loans | $ 5,417,351,000 | $ 5,417,351,000 | $ 5,408,636,000 | ||
Dairy & livestock and agribusiness | 301,752,000 | 301,752,000 | 394,543,000 | ||
Total fixed rate loans held | 3,810,000,000 | 3,810,000,000 | |||
Secure borrowings and available lines of credit from FHLB and Federal Reserve Bank | 6,050,000,000 | 6,050,000,000 | 5,710,000,000 | ||
Impaired, at carrying value | 14,506,000 | $ 14,712,000 | 14,506,000 | $ 14,712,000 | 23,545,000 |
Impaired, at carrying value | 371,000 | $ 16,000 | $ 371,000 | $ 16,000 | 561,000 |
Number of performing loans | SecurityLoan | 12 | ||||
Reserve for credit risk for undisbursed commitments | $ 9,000,000 | $ 9,000,000 | 9,000,000 | ||
Allocation of allowance to troubled debt restructuring | $ 490,000,000 | ||||
Number of loans modified as a TDR within the previous 12 months that subsequently defaulted | Contract | 0 | 0 | 0 | 0 | |
Percentage of PCI loans to Loan Receivable | 0.20% | 0.20% | 0.20% | ||
Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage of total gross loan portfolio (excluding PCI loans) | 77.08% | 77.08% | |||
Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Percentage of total gross loan portfolio (excluding PCI loans) | 71.85% | 71.85% | |||
Nonaccrual Small Business Administration Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | $ 2,000,000 | $ 2,000,000 | |||
Impaired Loans Modified in Troubled Debt Restructure [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired, at carrying value | 3,500,000 | 3,500,000 | |||
Loans classified as troubled debt restructured | 3,500,000 | 3,500,000 | |||
Single-family Residential Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 2,700,000 | 2,700,000 | |||
Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 1,100,000 | 1,100,000 | |||
Nonaccrual Single Family Mortgage Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 5,100,000 | 5,100,000 | |||
Nonperforming Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired, at carrying value | 263,000 | 263,000 | |||
Loans classified as troubled debt restructured | 263,000 | 263,000 | |||
Performing Financing Receivable [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Impaired, at carrying value | 14,500,000 | 14,500,000 | |||
Loans classified as troubled debt restructured | 3,200,000 | 3,200,000 | |||
Performing Financing Receivable [Member] | Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 550,000 | 550,000 | |||
Performing Financing Receivable [Member] | Impaired Loans Modified in Troubled Debt Restructure [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 3,200,000 | 3,200,000 | |||
Performing Financing Receivable [Member] | Single-family Residential Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 2,100,000 | $ 2,100,000 | |||
Number of loans | SecurityLoan | 8 | ||||
Performing Financing Receivable [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 95,000 | $ 95,000 | |||
Number of loans | SecurityLoan | 2 | ||||
Performing Financing Receivable [Member] | Small Business Administration [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans classified as troubled debt restructured | 436,000 | $ 436,000 | |||
Number of loans | SecurityLoan | 1 | ||||
Performing Financing Receivable [Member] | Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of loans | SecurityLoan | 1 | ||||
Loans, Excluding PCI Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial real estate loans | $ 5,394,229,000 | ||||
Dairy & livestock and agribusiness | 301,752,000 | $ 301,752,000 | 393,843,000 | ||
Impaired, at carrying value | 23,500,000 | ||||
Outstanding balance | 11,287,000 | 11,287,000 | 19,951,000 | ||
Loans, Excluding PCI Loans [Member] | Dairy & Livestock Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Dairy & livestock and agribusiness | 245,700,000 | 245,700,000 | 340,500,000 | ||
Loans, Excluding PCI Loans [Member] | Agribusiness Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Dairy & livestock and agribusiness | 56,100,000 | 56,100,000 | 54,000,000 | ||
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 0 | 0 | 78,000 | ||
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | 1,993,000 | 1,993,000 | 7,490,000 | ||
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Outstanding balance | $ 5,082,000 | $ 5,082,000 | $ 2,892,000 | ||
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) | 4.16% | 4.16% | 4.27% | ||
Commercial real estate loans | $ 225,600,000 | $ 225,600,000 | $ 231,000,000 | ||
Loans, Excluding PCI Loans [Member] | Loans Secured by Farmland [Member] | Loans Secured by Dairy & Livestock Land [Member] | Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Commercial real estate loans | 122,700,000 | 122,700,000 | 126,900,000 | ||
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 | $ 102,900,000 | $ 102,900,000 | $ 104,100,000 |
Loans and Lease Finance Recei_4
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Components of Loans and Lease Finance Receivables, Including PCI Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial and industrial | $ 917,953 | $ 1,002,728 | ||||
SBA | 327,606 | 351,301 | ||||
Commercial real estate | 5,417,351 | 5,408,636 | ||||
Construction | 116,457 | 122,782 | ||||
SFR mortgage | 278,285 | 296,649 | ||||
Dairy & livestock and agribusiness | 301,752 | 394,543 | ||||
Municipal lease finance receivables | 59,985 | 64,186 | ||||
Consumer and other loans | 120,779 | 128,614 | ||||
Total Gross loans | 7,540,168 | 7,769,439 | ||||
Less: Deferred loan fees, net | (4,478) | (4,828) | ||||
Gross loans, net of deferred loan fees | 7,535,690 | 7,764,611 | ||||
Less: Allowance for loan losses | (67,132) | $ (65,201) | (63,613) | $ (59,583) | $ (59,935) | $ (59,585) |
Total loans and lease finance receivables | 7,468,558 | 7,700,998 | ||||
PCI Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial and industrial | 519 | |||||
SBA | 1,258 | |||||
Commercial real estate | 14,407 | |||||
Construction | 0 | |||||
SFR mortgage | 145 | |||||
Dairy & livestock and agribusiness | 700 | |||||
Municipal lease finance receivables | 0 | |||||
Consumer and other loans | 185 | |||||
Total Gross loans | 17,214 | |||||
Less: Deferred loan fees, net | 0 | |||||
Gross loans, net of deferred loan fees | 17,214 | |||||
Less: Allowance for loan losses | (204) | $ (216) | $ (312) | $ (367) | ||
Total loans and lease finance receivables | 17,010 | |||||
Loans, Excluding PCI Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial and industrial | 917,953 | 1,002,209 | ||||
SBA | 327,606 | 350,043 | ||||
Commercial real estate | 5,394,229 | |||||
Construction | 122,782 | |||||
SFR mortgage | 278,285 | 296,504 | ||||
Dairy & livestock and agribusiness | 301,752 | 393,843 | ||||
Municipal lease finance receivables | 59,985 | 64,186 | ||||
Consumer and other loans | 120,779 | 128,429 | ||||
Total Gross loans | $ 7,540,168 | 7,752,225 | ||||
Less: Deferred loan fees, net | (4,828) | |||||
Gross loans, net of deferred loan fees | 7,747,397 | |||||
Less: Allowance for loan losses | (63,409) | |||||
Total loans and lease finance receivables | $ 7,683,988 |
Loans and Lease Finance Recei_5
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loan, Including PCI Loans by Internal Risk Ratings (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | $ 917,953 | $ 1,002,728 |
SBA | 327,606 | 351,301 |
SFR mortgage | 278,285 | 296,649 |
Dairy & livestock and agribusiness | 301,752 | 394,543 |
Municipal lease finance receivables | 59,985 | 64,186 |
Consumer and other loans | 120,779 | 128,614 |
Total Gross loans | 7,540,168 | 7,769,439 |
Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 917,953 | 1,002,209 |
SBA | 327,606 | 350,043 |
Commercial real estate, Owner occupied | 2,093,643 | 2,117,990 |
Commercial real estate, Non-owner occupied | 3,323,708 | 3,276,239 |
Construction, Speculative | 93,170 | 118,233 |
Construction, Non-speculative | 23,287 | 4,549 |
SFR mortgage | 278,285 | 296,504 |
Dairy & livestock and agribusiness | 301,752 | 393,843 |
Municipal lease finance receivables | 59,985 | 64,186 |
Consumer and other loans | 120,779 | 128,429 |
Total Gross loans | 7,540,168 | 7,752,225 |
Pass [Member] | Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 883,044 | 961,909 |
SBA | 303,947 | 336,033 |
Commercial real estate, Owner occupied | 1,985,951 | 2,008,169 |
Commercial real estate, Non-owner occupied | 3,310,103 | 3,260,822 |
Construction, Speculative | 93,170 | 118,233 |
Construction, Non-speculative | 23,287 | 4,549 |
SFR mortgage | 272,767 | 289,607 |
Dairy & livestock and agribusiness | 239,481 | 350,044 |
Municipal lease finance receivables | 59,481 | 63,650 |
Consumer and other loans | 118,706 | 126,085 |
Total Gross loans | 7,289,937 | 7,519,101 |
Special Mention [Member] | Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 28,611 | 29,358 |
SBA | 14,444 | 7,375 |
Commercial real estate, Owner occupied | 87,246 | 95,841 |
Commercial real estate, Non-owner occupied | 12,850 | 9,938 |
Construction, Speculative | 0 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 2,158 | 3,310 |
Dairy & livestock and agribusiness | 54,003 | 34,586 |
Municipal lease finance receivables | 504 | 536 |
Consumer and other loans | 1,019 | 1,263 |
Total Gross loans | 200,835 | 182,207 |
Substandard [Member] | Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 6,298 | 10,942 |
SBA | 9,215 | 6,635 |
Commercial real estate, Owner occupied | 20,446 | 13,980 |
Commercial real estate, Non-owner occupied | 755 | 5,479 |
Construction, Speculative | 0 | 0 |
Construction, Non-speculative | 0 | 0 |
SFR mortgage | 3,360 | 3,587 |
Dairy & livestock and agribusiness | 8,268 | 9,213 |
Municipal lease finance receivables | 0 | 0 |
Consumer and other loans | 1,054 | 1,081 |
Total Gross loans | 49,396 | 50,917 |
Doubtful & Loss [Member] | Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial and industrial | 0 | 0 |
SBA | 0 | 0 |
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 | 0 | 0 |
Total Gross loans | $ 0 | $ 0 |
Loans and Lease Finance Recei_6
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loan, Including PCI Loans by Internal Risk Ratings (Parenthetical) (Detail) - USD ($) | 3 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2018 | |
Payments to Acquire Loans Receivable | $ 19,000,000 | |
Financial Asset Acquired with Credit Deterioration [Member] | ||
PCI Loans | $ 17,200,000 | |
Financial Asset Acquired with Credit Deterioration [Member] | Pass [Member] | ||
PCI Loans | 15,800,000 | |
Financial Asset Acquired with Credit Deterioration [Member] | Special Mention [Member] | ||
PCI Loans | 1,200,000 | |
Financial Asset Acquired with Credit Deterioration [Member] | Substandard [Member] | ||
PCI Loans | 224,000 | |
Financial Asset Acquired with Credit Deterioration [Member] | Doubtful [Member] | ||
PCI Loans | $ 0 |
Loans and Lease Finance Recei_7
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 ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | $ 65,201,000 | $ 59,935,000 | $ 63,613,000 | $ 59,585,000 |
Charge-offs | (261,000) | (2,000) | (360,000) | (9,000) |
Recoveries | 192,000 | 650,000 | 379,000 | 2,007,000 |
Provision for (Recapture of) loan losses | 2,000,000 | (1,000,000) | 3,500,000 | (2,000,000) |
Ending Balance | 67,132,000 | 59,583,000 | 67,132,000 | 59,583,000 |
PCI Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 312,000 | 204,000 | 367,000 | |
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
Provision for (Recapture of) loan losses | (96,000) | (151,000) | ||
Ending Balance | 216,000 | 216,000 | ||
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 7,608,000 | 7,499,000 | 7,528,000 | 7,280,000 |
Charge-offs | (48,000) | 0 | (48,000) | 0 |
Recoveries | 49,000 | 27,000 | 159,000 | 37,000 |
Provision for (Recapture of) loan losses | 248,000 | (556,000) | 218,000 | (347,000) |
Ending Balance | 7,857,000 | 6,970,000 | 7,857,000 | 6,970,000 |
Small Business Administration [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 1,294,000 | 884,000 | 1,078,000 | 869,000 |
Charge-offs | (210,000) | 0 | (230,000) | 0 |
Recoveries | 4,000 | 5,000 | 9,000 | 10,000 |
Provision for (Recapture of) loan losses | 31,000 | (48,000) | 262,000 | (38,000) |
Ending Balance | 1,119,000 | 841,000 | 1,119,000 | 841,000 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 46,227,000 | 41,863,000 | 45,097,000 | 41,722,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision for (Recapture of) loan losses | 2,060,000 | 734,000 | 3,190,000 | 875,000 |
Ending Balance | 48,287,000 | 42,597,000 | 48,287,000 | 42,597,000 |
Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 864,000 | 987,000 | 981,000 | 984,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 3,000 | 596,000 | 6,000 | 1,930,000 |
Provision for (Recapture of) loan losses | 4,000 | (580,000) | (116,000) | (1,911,000) |
Ending Balance | 871,000 | 1,003,000 | 871,000 | 1,003,000 |
SFR Mortgage [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 2,189,000 | 2,202,000 | 2,197,000 | 2,112,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 115,000 | 0 | 183,000 | 0 |
Provision for (Recapture of) loan losses | 19,000 | (47,000) | (57,000) | 43,000 |
Ending Balance | 2,323,000 | 2,155,000 | 2,323,000 | 2,155,000 |
Dairy & Livestock and Agribusiness [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 5,699,000 | 4,666,000 | 5,225,000 | 4,647,000 |
Charge-offs | 0 | 0 | (78,000) | 0 |
Recoveries | 19,000 | 19,000 | 19,000 | 19,000 |
Provision for (Recapture of) loan losses | (377,000) | (334,000) | 175,000 | (315,000) |
Ending Balance | 5,341,000 | 4,351,000 | 5,341,000 | 4,351,000 |
Municipal Lease Finance Receivables [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 738,000 | 834,000 | 775,000 | 851,000 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Provision for (Recapture of) loan losses | (12,000) | (26,000) | (49,000) | (43,000) |
Ending Balance | 726,000 | 808,000 | 726,000 | 808,000 |
Consumer and Other Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Beginning Balance | 582,000 | 688,000 | 732,000 | 753,000 |
Charge-offs | (3,000) | (2,000) | (4,000) | (9,000) |
Recoveries | 2,000 | 3,000 | 3,000 | 11,000 |
Provision for (Recapture of) loan losses | 27,000 | (47,000) | (123,000) | (113,000) |
Ending Balance | $ 608,000 | $ 642,000 | $ 608,000 | $ 642,000 |
Loans and Lease Finance Recei_8
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 | Jun. 30, 2019 | Jun. 30, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | $ 14,506 | $ 14,712 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 7,525,662 | 4,788,193 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 19,426 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 371 | 16 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 66,761 | 59,351 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 216 | |
PCI Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 0 | |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 19,426 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 0 | |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 216 | |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 2,088 | 355 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 915,865 | 508,833 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 276 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 7,581 | 6,970 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | |
Small Business Administration [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 5,632 | 1,174 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 321,974 | 119,874 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 93 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,026 | 841 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 1,531 | 7,741 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 5,415,820 | 3,446,289 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 48,287 | 42,597 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | |
Construction [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 | 116,457 | 84,400 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 871 | 1,003 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | |
SFR Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 4,858 | 4,133 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 273,427 | 233,021 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 13 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 2,323 | 2,142 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | |
Dairy & Livestock and Agribusiness [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | 800 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 301,752 | 267,689 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 5,341 | 4,351 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 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 | 59,985 | 67,721 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 726 | 808 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | 0 | |
Consumer and Other Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Recorded Investment in Loans, Individually Evaluated for Impairment | 397 | 509 |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 120,382 | 60,366 |
Recorded Investment in Loans, Acquired with Deterioriated Credit Quality | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 2 | 3 |
Allowance for Loan Losses, Collectively Evaluated for Impairment | $ 606 | 639 |
Allowance for Loan Losses, Acquired with Deterioriated Credit Quality | $ 0 |
Loans and Lease Finance Recei_9
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Including PCI Loans by Class of Loans (Detail) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Gross loans | $ 7,540,168,000 | $ 7,769,439,000 |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 360,000 | 33,000 |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 832,000 | 57,000 |
Loans, Excluding PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 332,000 | 5,290,000 |
Nonaccrual | 11,287,000 | 19,951,000 |
Current | 7,528,549,000 | 7,726,984,000 |
Total Gross loans | 7,540,168,000 | 7,752,225,000 |
Loans, Excluding PCI Loans [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 322,000 | 4,431,000 |
Loans, Excluding PCI Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 10,000 | 859,000 |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 310,000 | 909,000 |
Nonaccrual | 1,993,000 | 7,490,000 |
Current | 915,650,000 | 993,810,000 |
Total Gross loans | 917,953,000 | 1,002,209,000 |
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 | 300,000 | 820,000 |
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 | 10,000 | 89,000 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 1,307,000 |
Nonaccrual | 5,082,000 | 2,892,000 |
Current | 322,524,000 | 345,844,000 |
Total Gross loans | 327,606,000 | 350,043,000 |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | 30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 1,172,000 |
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 | 0 | 135,000 |
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 | 2,789,000 |
Nonaccrual | 502,000 | 589,000 |
Current | 2,093,141,000 | 2,114,612,000 |
Total Gross loans | 2,093,643,000 | 2,117,990,000 |
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 | 2,439,000 |
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 | 350,000 |
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 | 593,000 | 5,479,000 |
Current | 3,323,115,000 | 3,270,760,000 |
Total Gross loans | 3,323,708,000 | 3,276,239,000 |
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 | 0 | 0 |
Current | 93,170,000 | 118,233,000 |
Total Gross loans | 93,170,000 | 118,233,000 |
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 | 23,287,000 | 4,549,000 |
Total Gross loans | 23,287,000 | 4,549,000 |
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 | 0 | 285,000 |
Nonaccrual | 2,720,000 | 2,937,000 |
Current | 275,565,000 | 293,282,000 |
Total Gross loans | 278,285,000 | 296,504,000 |
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 | 0 | 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 | 285,000 |
Loans, Excluding PCI Loans [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | 0 | 0 |
Nonaccrual | 0 | 78,000 |
Current | 301,752,000 | 393,765,000 |
Total Gross loans | 301,752,000 | 393,843,000 |
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 | 59,985,000 | 64,186,000 |
Total Gross loans | 59,985,000 | 64,186,000 |
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 | 22,000 | 0 |
Nonaccrual | 397,000 | 486,000 |
Current | 120,360,000 | 127,943,000 |
Total Gross loans | 120,779,000 | 128,429,000 |
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 | 22,000 | 0 |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Past Due and Accruing | $ 0 | $ 0 |
Loans and Lease Finance Rece_10
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Including PCI Loans by Class of Loans (Parenthetical) (Detail) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing loans, current | $ 2,800,000 | $ 2,300,000 |
Community Bank [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 8,400,000 | 12,300,000 |
30-59 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 360,000 | 33,000 |
60-89 Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | 832,000 | 57,000 |
90+ Days Past Due [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual | $ 7,300,000 | $ 17,600,000 |
Loans and Lease Finance Rece_11
Loans and Lease Finance Receivables and Allowance for Loan Losses - Schedule of Held-for-Investment Loans, Individually Evaluated for Impairment by Class of Loans (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | $ 12,051 | $ 14,696 | $ 20,067 |
Recorded Investment, With a related allowance recorded | 2,455 | 16 | 3,478 |
Recorded Investment, Total impaired loans | 14,506 | 14,712 | 23,545 |
Unpaid Principal Balance, With no related allowance recorded | 14,557 | 18,474 | 29,028 |
Unpaid Principal Balance, With a related allowance recorded | 2,800 | 16 | 3,513 |
Unpaid Principal Balance, Total impaired loans | 17,357 | 18,490 | 32,541 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 371 | 16 | 561 |
Related Allowance, Total impaired loans | 371 | 16 | 561 |
Average Recorded Investment, With no related allowance recorded | 11,608 | 15,024 | |
Average Recorded Investment, With a related allowance recorded | 2,432 | 16 | |
Average Recorded Investment, Total impaired loans | 14,040 | 15,040 | |
Interest Income Recognized, With no related allowance recorded | 79 | 126 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, Total impaired loans | 79 | 126 | |
Commercial and Industrial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 898 | 355 | 7,436 |
Recorded Investment, With a related allowance recorded | 1,190 | 0 | 189 |
Unpaid Principal Balance, With no related allowance recorded | 1,033 | 864 | 11,457 |
Unpaid Principal Balance, With a related allowance recorded | 1,263 | 0 | 191 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 276 | 0 | 3 |
Average Recorded Investment, With no related allowance recorded | 1,022 | 378 | |
Average Recorded Investment, With a related allowance recorded | 1,251 | 0 | |
Interest Income Recognized, With no related allowance recorded | 2 | 4 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Small Business Administration [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 4,369 | 1,174 | 3,467 |
Recorded Investment, With a related allowance recorded | 1,263 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 5,714 | 1,302 | 5,746 |
Unpaid Principal Balance, With a related allowance recorded | 1,534 | 0 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 93 | 0 | 0 |
Average Recorded Investment, With no related allowance recorded | 3,703 | 1,204 | |
Average Recorded Investment, With a related allowance recorded | 1,179 | 0 | |
Interest Income Recognized, With no related allowance recorded | 21 | 23 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Commercial Real Estate Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 502 | 4,294 | 589 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 616 | 4,747 | 705 |
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 | 515 | 4,331 | |
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 | |
Commercial Real Estate Non-owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 1,029 | 3,447 | 2,808 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 3,143 |
Unpaid Principal Balance, With no related allowance recorded | 1,209 | 4,894 | 4,324 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 3,144 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 478 |
Average Recorded Investment, With no related allowance recorded | 1,068 | 3,565 | |
Average Recorded Investment, With a related allowance recorded | 0 | 0 | |
Interest Income Recognized, With no related allowance recorded | 14 | 44 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Construction Speculative [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 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 | |
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 | 4,858 | 4,120 | 5,349 |
Recorded Investment, With a related allowance recorded | 0 | 13 | 0 |
Unpaid Principal Balance, With no related allowance recorded | 5,467 | 4,860 | 6,270 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 13 | 0 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 13 | 0 |
Average Recorded Investment, With no related allowance recorded | 4,893 | 4,159 | |
Average Recorded Investment, With a related allowance recorded | 0 | 13 | |
Interest Income Recognized, With no related allowance recorded | 42 | 55 | |
Interest Income Recognized, With a related allowance recorded | 0 | 0 | |
Dairy & Livestock and Agribusiness [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Recorded Investment, With no related allowance recorded | 0 | 800 | 0 |
Recorded Investment, With a related allowance recorded | 0 | 0 | 78 |
Unpaid Principal Balance, With no related allowance recorded | 0 | 1,091 | 0 |
Unpaid Principal Balance, With a related allowance recorded | 0 | 0 | 78 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 0 | 0 | 12 |
Average Recorded Investment, With no related allowance recorded | 0 | 819 | |
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 | |
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 | 395 | 506 | 418 |
Recorded Investment, With a related allowance recorded | 2 | 3 | 68 |
Unpaid Principal Balance, With no related allowance recorded | 518 | 716 | 526 |
Unpaid Principal Balance, With a related allowance recorded | 3 | 3 | 100 |
Related Allowance, With no related allowance recorded | 0 | 0 | 0 |
Related Allowance, With a related allowance recorded | 2 | 3 | $ 68 |
Average Recorded Investment, With no related allowance recorded | 407 | 568 | |
Average Recorded Investment, With a related allowance recorded | 2 | 3 | |
Interest Income Recognized, With no related allowance recorded | 0 | 0 | |
Interest Income Recognized, With a related allowance recorded | $ 0 | $ 0 |
Loans and Lease Finance Rece_12
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 | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Financing Receivable, Modifications [Line Items] | ||||
Total TDRs | $ 3,482 | $ 8,422 | $ 3,482 | $ 8,422 |
Performing TDRs [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Beginning balance | 3,299 | 4,285 | 3,594 | 4,809 |
New modifications | 0 | 311 | 0 | 311 |
Payoffs/payments, net and other | (80) | (66) | (375) | (590) |
TDRs returned to accrual status | 0 | 0 | 0 | 0 |
TDRs placed on nonaccrual status | 0 | 0 | 0 | 0 |
Ending balance | 3,219 | 4,530 | 3,219 | 4,530 |
Nonperforming TDRs [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Beginning balance | 277 | 3,909 | 3,509 | 4,200 |
New modifications | 0 | 38 | 0 | 38 |
Transfer to OREO | 0 | 0 | (2,275) | 0 |
Charge-offs | 0 | 0 | (78) | 0 |
Payoffs/payments, net and other | (14) | (55) | (893) | (346) |
TDRs returned to accrual status | 0 | 0 | 0 | 0 |
TDRs placed on nonaccrual status | 0 | 0 | 0 | 0 |
Ending balance | $ 263 | $ 3,892 | $ 263 | $ 3,892 |
Loans and Lease Finance Rece_13
Loans and Lease Finance Receivables and Allowance for Loan Losses - Summary of Loans Modified as Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018USD ($)Contract | Jun. 30, 2018USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 2 | 2 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 349 | $ 349 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 349 | 349 |
Troubled debt restructurings, Outstanding Recorded Investment | 338 | 338 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Commercial and Industrial [Member] | Interest rate reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Commercial and Industrial [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 1 | 1 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 38 | $ 38 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 38 | 38 |
Troubled debt restructurings, Outstanding Recorded Investment | 31 | 31 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | Interest rate reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Commercial Real Estate Owner Occupied [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 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] | Interest rate reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Commercial Real Estate Non-owner Occupied [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
SFR Mortgage [Member] | Interest rate reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
SFR Mortgage [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 1 | 1 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 311 | $ 311 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 311 | 311 |
Troubled debt restructurings, Outstanding Recorded Investment | 307 | 307 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Consumer [Member] | Interest rate reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 0 | 0 |
Troubled debt restructurings, Pre-Modification Outstanding Recorded Investment | $ 0 | $ 0 |
Troubled debt restructurings, Post-Modification Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Outstanding Recorded Investment | 0 | 0 |
Troubled debt restructurings, Financial Effect Resulting From Modifications | $ 0 | $ 0 |
Consumer [Member] | Change in Amortization Period or Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings, Number of Loans | Contract | 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 |
Earnings Per Share Reconcilia_3
Earnings Per Share Reconciliation - Additional Information (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per common share | 360,000 | 14,000 | 396,000 | 13,000 |
Earnings Per Share Reconcilia_4
Earnings Per Share Reconciliation - Schedule of Earnings Per Common Share Reconciliation (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings per common share: | ||||
Net earnings | $ 54,481 | $ 35,373 | $ 106,123 | $ 70,286 |
Less: Net earnings allocated to restricted stock | 134 | 94 | 276 | 202 |
Net earnings allocated to common shareholders | $ 54,347 | $ 35,279 | $ 105,847 | $ 70,084 |
Weighted average shares outstanding | 139,748 | 109,983 | 139,682 | 109,921 |
Basic earnings per common share | $ 0.39 | $ 0.32 | $ 0.76 | $ 0.64 |
Diluted earnings per common share: | ||||
Net income allocated to common shareholders | $ 54,347 | $ 35,279 | $ 105,847 | $ 70,084 |
Weighted average shares outstanding | 139,748 | 109,983 | 139,682 | 109,921 |
Incremental shares from assumed exercise of outstanding options | 149 | 372 | 179 | 418 |
Diluted weighted average shares outstanding | 139,897 | 110,355 | 139,861 | 110,339 |
Diluted earnings per common share | $ 0.39 | $ 0.32 | $ 0.76 | $ 0.64 |
Fair Value Information - Additi
Fair Value Information - Additional Information (Detail) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items] | ||
Fair value assets transfers from Level 1 to Level 2 | $ 0 | $ 0 |
Fair value assets transfers from Level 2 to Level 1 | 0 | 0 |
Fair value liabilities transfers from Level 1 to Level 2 | 0 | 0 |
Fair value liabilities transfers from Level 2 to Level 1 | $ 0 | $ 0 |
Fair Value Information - Assets
Fair Value Information - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, liabilities | $ 432,015 | $ 444,193 |
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 | 10,744 | 1,938 |
Interest rate swaps, liabilities | 10,744 | 1,938 |
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 |
Interest rate swaps, liabilities | 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 | 1,610,764 | 1,736,023 |
Total liabilities | 10,744 | 1,938 |
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 |
Interest rate swaps, liabilities | 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 | 41,986 | 44,810 |
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] | 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 | 1,362,249 | 1,474,508 |
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 | 194,976 | 214,051 |
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 | 809 | 716 |
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 | 1,600,020 | 1,734,085 |
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 | |
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 | 10,744 | 1,938 |
Interest rate swaps, liabilities | 10,744 | 1,938 |
Fair Value on Recurring Basis [Member] | Interest Rate Swaps [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest rate swaps, assets | 0 | 0 |
Interest rate swaps, liabilities | 0 | |
Fair Value on Recurring Basis [Member] | Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets | 1,610,764 | 1,736,023 |
Total liabilities | 10,744 | 1,938 |
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 | 41,986 | 44,810 |
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 | 1,362,249 | 1,474,508 |
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 | 194,976 | 214,051 |
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 | 809 | 716 |
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 | 1,600,020 | 1,734,085 |
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 | 10,744 | 1,938 |
Interest rate swaps, liabilities | $ 10,744 | $ 1,938 |
Fair Value Information - Asse_2
Fair Value Information - Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Detail) - Fair Value on Non-Recurring Basis [Member] - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Description of assets | ||
Total assets | $ 601 | |
Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | |
Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 276 | |
Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 323 | |
Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | |
Construction [Member] | ||
Description of assets | ||
Total assets | 0 | |
SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | |
Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | |
Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 2 | |
Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | $ 0 |
Loans, Excluding PCI Loans [Member] | ||
Description of assets | ||
Total assets | 561 | |
Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | |
Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 3 | |
Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | |
Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 478 | |
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 | 12 | |
Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 68 | |
Level 1 [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 1 [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 1 [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 1 [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 1 [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 1 [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 1 [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 1 [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 1 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 1 [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [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 | 0 |
Level 2 [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 2 [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 2 [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 2 [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 2 [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 2 [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 2 [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 2 [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 2 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 2 [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [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 | 2,345 | |
Level 3 [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 3 [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 1,190 | |
Level 3 [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 1,153 | |
Level 3 [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 3 [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 3 [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 3 [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 3 [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 2 | |
Level 3 [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | 0 | 0 |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | ||
Description of assets | ||
Total assets | 3,478 | |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 189 | |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 3,143 | |
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 | 78 | |
Level 3 [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 68 | |
Carrying Value [Member] | ||
Description of assets | ||
Total assets | 2,345 | |
Carrying Value [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | |
Carrying Value [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 1,190 | |
Carrying Value [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 1,153 | |
Carrying Value [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 0 | |
Carrying Value [Member] | Construction [Member] | ||
Description of assets | ||
Total assets | 0 | |
Carrying Value [Member] | SFR Mortgage [Member] | ||
Description of assets | ||
Total assets | 0 | |
Carrying Value [Member] | Dairy & Livestock and Agribusiness [Member] | ||
Description of assets | ||
Total assets | 0 | |
Carrying Value [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | 2 | |
Carrying Value [Member] | Other Real Estate Owned [Member] | ||
Description of assets | ||
Total assets | $ 0 | 0 |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | ||
Description of assets | ||
Total assets | 3,478 | |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Asset Held-for-Sale [Member] | ||
Description of assets | ||
Total assets | 0 | |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Commercial and Industrial [Member] | ||
Description of assets | ||
Total assets | 189 | |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Small Business Administration [Member] | ||
Description of assets | ||
Total assets | 0 | |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Commercial Real Estate [Member] | ||
Description of assets | ||
Total assets | 3,143 | |
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 | 78 | |
Carrying Value [Member] | Loans, Excluding PCI Loans [Member] | Consumer and Other Loans [Member] | ||
Description of assets | ||
Total assets | $ 68 |
Fair Value Information - Estima
Fair Value Information - Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Assets | ||||
Total cash and cash equivalents | $ 175,840 | $ 163,948 | $ 181,489 | $ 144,377 |
Interest-earning balances due from depository institutions | 6,425 | 7,670 | ||
Investment securities available-for-sale | 1,600,020 | 1,734,085 | ||
Investment securities held-to-maturity | 728,113 | 744,440 | ||
Total loans, net of allowance for loan losses | 7,468,558 | 7,700,998 | ||
Deposits: | ||||
Interest-bearing | 3,412,588 | 3,622,703 | ||
Junior subordinated debentures | 25,774 | 25,774 | ||
Swaps | 432,015 | 444,193 | ||
Carrying Value [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 175,840 | 163,948 | ||
Interest-earning balances due from depository institutions | 6,425 | 7,670 | ||
Investment securities available-for-sale | 1,600,020 | 1,734,085 | ||
Investment securities held-to-maturity | 728,113 | 744,440 | ||
Total loans, net of allowance for loan losses | 7,468,558 | 7,700,998 | ||
Swaps | 10,744 | 1,938 | ||
Deposits: | ||||
Interest-bearing | 3,412,588 | 3,622,703 | ||
Borrowings | 421,271 | 722,255 | ||
Junior subordinated debentures | 25,774 | 25,774 | ||
Swaps | 10,744 | 1,938 | ||
Estimated Fair Value [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 175,840 | 163,948 | ||
Interest-earning balances due from depository institutions | 6,295 | 7,339 | ||
Investment securities available-for-sale | 1,600,020 | 1,734,085 | ||
Investment securities held-to-maturity | 729,032 | 721,537 | ||
Total loans, net of allowance for loan losses | 7,433,835 | 7,514,964 | ||
Swaps | 10,744 | 1,938 | ||
Deposits: | ||||
Interest-bearing | 3,409,516 | 3,614,682 | ||
Borrowings | 420,841 | 721,601 | ||
Junior subordinated debentures | 20,703 | 21,176 | ||
Swaps | 10,744 | 1,938 | ||
Estimated Fair Value [Member] | Level 1 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 175,840 | 163,948 | ||
Interest-earning balances due from depository institutions | 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: | ||||
Interest-bearing | 0 | 0 | ||
Borrowings | 0 | 0 | ||
Junior subordinated debentures | 0 | 0 | ||
Swaps | 0 | 0 | ||
Estimated Fair Value [Member] | Level 2 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 0 | 0 | ||
Interest-earning balances due from depository institutions | 6,295 | 7,339 | ||
Investment securities available-for-sale | 1,600,020 | 1,734,085 | ||
Investment securities held-to-maturity | 729,032 | 721,537 | ||
Total loans, net of allowance for loan losses | 0 | 0 | ||
Swaps | 10,744 | 1,938 | ||
Deposits: | ||||
Interest-bearing | 3,409,516 | 3,614,682 | ||
Borrowings | 420,841 | 721,601 | ||
Junior subordinated debentures | 0 | 0 | ||
Swaps | 10,744 | 1,938 | ||
Estimated Fair Value [Member] | Level 3 [Member] | ||||
Assets | ||||
Total cash and cash equivalents | 0 | 0 | ||
Interest-earning balances due from depository institutions | 0 | 0 | ||
Investment securities available-for-sale | 0 | 0 | ||
Investment securities held-to-maturity | 0 | 0 | ||
Total loans, net of allowance for loan losses | 7,433,835 | 7,514,964 | ||
Swaps | 0 | 0 | ||
Deposits: | ||||
Interest-bearing | 0 | 0 | ||
Borrowings | 0 | 0 | ||
Junior subordinated debentures | 20,703 | 21,176 | ||
Swaps | $ 0 | $ 0 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Additional Information (Detail) | 6 Months Ended | |
Jun. 30, 2019USD ($)Agreement | Dec. 31, 2018USD ($) | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative assets and liabilities offset in balance sheet | $ 0 | |
Total notional amount of the Company's swaps | $ 224,800,000 | $ 195,400,000 |
Description of Conditions Relating to Clearing of Interest rate Swaps | As a result of the Bank exceeding $10 billion in assets, federal regulations require the Bank, beginning in January 2019, to clear most interest rate swaps through a clearing house (“centrally cleared”). These instruments contain language outlining collateral pledging requirements for each counterparty, in which collateral must be posted if market value exceeds certain agreed upon threshold limits. Cash or securities are pledged as collateral. | |
Interest-rate Swap Agreements with Customers [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Number of interest-rate swap agreements | Agreement | 77 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Fair Value of Derivative Instruments (Detail) - Derivatives Not Designated as Hedging Instruments [Member] - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 10,744 | $ 1,938 |
Other Assets [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 10,744 | 1,938 |
Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | 10,744 | 1,938 |
Other Liabilities [Member] | Interest Rate Swaps [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Liability Derivatives | $ 10,744 | $ 1,938 |
Derivative Financial Instrume_5
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 | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Derivatives, Fair Value [Line Items] | ||||
Amount of Gain Recognized in Income on Derivative Instruments | $ 373 | $ 151 | $ 757 | $ 267 |
Interest Rate Swaps [Member] | Other Income [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Amount of Gain Recognized in Income on Derivative Instruments | $ 373 | $ 151 | $ 757 | $ 267 |
Other Comprehensive Income - Su
Other Comprehensive Income - Summary of Components of OCI (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Equity [Abstract] | ||||
Net change in fair value recorded in accumulated OCI, Before-tax | $ 19,564 | $ (5,773) | $ 38,914 | $ (37,111) |
Net change in fair value recorded in accumulated OCI, Tax effect | (5,784) | 1,707 | (11,504) | 10,972 |
Net change in fair value recorded in accumulated OCI, After-tax | 13,780 | (4,066) | 27,410 | (26,139) |
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity, Before-tax | (78) | (825) | (1,201) | (1,657) |
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity, Tax effect | 23 | 244 | 355 | 490 |
Amortization of unrealized losses on securities transferred from available-for-sale to held-to-maturity, After-tax | (55) | (581) | (846) | (1,167) |
Net change, Before-tax | 19,486 | (6,598) | 37,713 | (38,768) |
Net change, Tax effect | (5,761) | 1,951 | (11,149) | 11,462 |
Net change, After-tax | $ 13,725 | $ (4,647) | $ 26,564 | $ (27,306) |
Balance Sheet Offsetting - Sche
Balance Sheet Offsetting - Schedule of Balance Sheet Offsetting (Detail) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Offsetting Assets Liabilities [Line Items] | ||
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | $ 432,122 | $ 446,458 |
Financial liabilities, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | (107) | (2,265) |
Financial liabilities, Net Amounts Presented in the Condensed Consolidated Balance Sheets | 432,015 | 444,193 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 107 | 2,265 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (439,610) | (487,607) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | (7,488) | (41,149) |
Repurchase Agreements [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 421,271 | 442,255 |
Financial liabilities, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial liabilities, Net Amounts Presented in the Condensed Consolidated Balance Sheets | 421,271 | 442,255 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 0 | 0 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (424,648) | (487,607) |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | (3,377) | (45,352) |
Interest Rate Swaps [Member] | ||
Offsetting Assets Liabilities [Line Items] | ||
Financial assets, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 10,744 | 1,938 |
Financial assets, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Net Amounts Presented in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 10,744 | 1,938 |
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 | 10,744 | 1,938 |
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 | 10,744 | 1,938 |
Financial assets, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Net Amounts Presented in the Condensed Consolidated Balance Sheets | 0 | 0 |
Financial assets, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 10,744 | 1,938 |
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 | 10,744 | 1,938 |
Financial liabilities, Gross Amounts Recognized in the Condensed Consolidated Balance Sheets | 10,851 | 4,203 |
Financial liabilities, Gross Amounts Offset in the Condensed Consolidated Balance Sheets | (107) | (2,265) |
Financial liabilities, Net Amounts Presented in the Condensed Consolidated Balance Sheets | 10,744 | 1,938 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | 107 | 2,265 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Collateral Pledged | (14,962) | 0 |
Financial liabilities, Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Net Amount | $ (4,111) | $ 4,203 |
Leases - Components of lease co
Leases - Components of lease costs and supplemental information related to leases (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019USD ($) | Jun. 30, 2019USD ($) | |||
Lease Assets and Liabilities | ||||
ROU assets | $ 17,959 | $ 17,959 | ||
Total lease liabilities | 21,157 | 21,157 | ||
Lease Cost | ||||
Operating lease expense | 1,906 | [1] | 4,006 | [1] |
Sublease income | 0 | 0 | ||
Total lease expense | 1,906 | 4,006 | ||
Other Information | ||||
Operating cash outflows from operating leases | $ 2,113 | $ 4,859 | ||
Lease Term and Discount Rate | ||||
Weighted average remaining lease term (years) | 4 years 1 month 9 days | 4 years 1 month 9 days | ||
Weighted average discount rate | 3.50% | 3.50% | ||
[1] | Includes short-term leases and variable lease costs, which are immaterial. |
Leases - Future lease payments
Leases - Future lease payments required for leases that have initial or remaining non-cancelable lease terms (Detail) $ in Thousands | Jun. 30, 2019USD ($) |
2019 (excluding the six months ended June 30, 2019) | $ 3,997 |
2020 | 6,604 |
2021 | 4,806 |
2022 | 3,622 |
2023 | 1,941 |
Thereafter | 2,241 |
Total future lease payments | 23,211 |
Less: Imputed interest | (2,054) |
Total future lease payments | $ 21,157 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Non Interest Income, Segregated by Revenue Streams in-Scope and Out-of-Scope of Topic 606 (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Noninterest income: | ||||
Gain on OREO, net | $ 24 | $ 129 | $ 3,540 | |
Other | 2,603 | $ 1,178 | 4,647 | 2,569 |
Total noninterest income | 18,205 | 9,695 | 34,508 | 22,611 |
Service Charges on Deposit Accounts [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 5,065 | 4,091 | 10,206 | 8,136 |
Trust and Investment Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 2,452 | 2,399 | 4,634 | 4,556 |
Bankcard Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 1,027 | 958 | 1,977 | 1,762 |
Accounting Standards Update 2014-09 [Member] | ||||
Noninterest income: | ||||
Gain on OREO, net | 24 | 0 | 129 | 3,540 |
Other | 2,603 | 1,178 | 4,647 | 2,569 |
Total noninterest income | 11,171 | 8,626 | 21,593 | 20,563 |
Accounting Standards Update 2014-09 [Member] | Service Charges on Deposit Accounts [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 5,065 | 4,091 | 10,206 | 8,136 |
Accounting Standards Update 2014-09 [Member] | Trust and Investment Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 2,452 | 2,399 | 4,634 | 4,556 |
Accounting Standards Update 2014-09 [Member] | Bankcard Services [Member] | ||||
Noninterest income: | ||||
Revenue from contract with customer | 1,027 | 958 | 1,977 | 1,762 |
Accounting Standards Update 2014-09 Not Adopted [Member] | ||||
Noninterest income: | ||||
Total noninterest income | $ 7,034 | $ 1,069 | $ 12,915 | $ 2,048 |