Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2020 | May 08, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2020 | |
Document Transition Report | false | |
Entity File Number | 000-10661 | |
Entity Registrant Name | TriCo Bancshares | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 94-2792841 | |
Entity Address, Address Line One | 63 Constitution Drive | |
Entity Address, City or Town | Chico | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95973 | |
City Area Code | 530 | |
Local Phone Number | 898-0300 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | TCBK | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 29,721,523 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000356171 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Assets: | ||
Cash and due from banks | $ 95,364 | $ 92,816 |
Cash at Federal Reserve and other banks | 90,102 | 183,691 |
Cash and cash equivalents | 185,466 | 276,507 |
Investment securities: | ||
Marketable equity securities | 3,007 | 2,960 |
Available for sale debt securities, net of allowance for credit losses of $— | 1,001,999 | 950,138 |
Held to maturity debt securities, net of allowance for credit losses of $— | 359,770 | 375,606 |
Restricted equity securities | 17,250 | 17,250 |
Loans held for sale | 2,695 | 5,265 |
Loans | 4,379,062 | 4,307,366 |
Allowance for credit losses | (57,911) | (30,616) |
Total loans, net | 4,321,151 | 4,276,750 |
Premises and equipment, net | 86,304 | 87,086 |
Cash value of life insurance | 118,543 | 117,823 |
Accrued interest receivable | 18,575 | 18,897 |
Goodwill | 220,872 | 220,872 |
Other intangible assets, net | 22,126 | 23,557 |
Operating leases, right-of-use | 30,221 | 27,879 |
Other assets | 86,330 | 70,591 |
Total assets | 6,474,309 | 6,471,181 |
Deposits: | ||
Noninterest-bearing demand | 1,883,143 | 1,832,665 |
Interest-bearing | 3,519,555 | 3,534,329 |
Total deposits | 5,402,698 | 5,366,994 |
Accrued interest payable | 1,986 | 2,407 |
Operating lease liability | 30,007 | 27,540 |
Other liabilities | 96,560 | 91,984 |
Other borrowings | 19,309 | 18,454 |
Junior subordinated debt | 57,323 | 57,232 |
Total liabilities | 5,607,883 | 5,564,611 |
Stockholders' Equity Attributable to Parent [Abstract] | ||
Preferred stock, no par value: 1,000,000 shares authorized, zero issued and outstanding at March 31, 2020 and December 31, 2019 | 0 | 0 |
Common stock, no par value: 50,000,000 shares authorized; 29,973,516 and 30,523,824 issued and outstanding at March 31, 2020 and December 31, 2019, respectively | 534,623 | 543,998 |
Retained earnings | 356,935 | 367,794 |
Accumulated other comprehensive income (loss), net of tax | (25,132) | (5,222) |
Total shareholders’ equity | 866,426 | 906,570 |
Total liabilities and shareholders’ equity | $ 6,474,309 | $ 6,471,181 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Available-for-sale, allowance for credit loss | $ 0 | |
Held-to-maturity, allowance for credit loss | $ 0 | |
Preferred stock, no par value (in USD per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 1,000,000 | 1,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, no par value (in USD per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 29,973,516 | 30,523,824 |
Common stock, shares outstanding (in shares) | 29,973,516 | 30,523,824 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Interest and dividend income: | ||
Loans, including fees | $ 56,258 | $ 54,398 |
Investments: | ||
Taxable securities | 8,211 | 10,555 |
Tax exempt securities | 904 | 1,073 |
Dividends | 361 | 360 |
Interest bearing cash at Federal Reserve and other banks | 783 | 1,071 |
Total interest and dividend income | 66,517 | 67,457 |
Interest expense: | ||
Deposits | 2,551 | 2,719 |
Other borrowings | 5 | 13 |
Junior subordinated debt | 769 | 855 |
Total interest expense | 3,325 | 3,587 |
Net interest income | 63,192 | 63,870 |
Provision for (reversal of) credit losses | 8,000 | (1,600) |
Net interest income after credit loss provision (reversal) | 55,192 | 65,470 |
Non-interest income: | ||
Service charges and fees | 9,126 | 9,070 |
Gain on sale of loans | 891 | 412 |
Gain on sale of investment securities | 0 | 0 |
Asset management and commission income | 916 | 642 |
Increase in cash value of life insurance | 720 | 775 |
Other | 167 | 904 |
Total non-interest income | 11,820 | 11,803 |
Non-interest expense: | ||
Salaries and related benefits | 27,272 | 25,128 |
Other | 17,547 | 20,324 |
Total non-interest expense | 44,819 | 45,452 |
Income before provision for income taxes | 22,193 | 31,821 |
Provision for income taxes | 6,072 | 9,095 |
Net income | $ 16,121 | $ 22,726 |
Per share data: | ||
Basic earnings per share (in USD per share) | $ 0.53 | $ 0.75 |
Diluted earnings per share (in USD per share) | 0.53 | 0.74 |
Dividend per share (in USD per share) | $ 0.22 | $ 0.19 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 16,121 | $ 22,726 |
Other comprehensive income (loss), net of tax: | ||
Unrealized gains (losses) on available for sale securities arising during the period | (20,822) | 8,952 |
Change in minimum pension liability | 912 | 0 |
Other comprehensive income (loss) | (19,910) | 8,952 |
Comprehensive income (loss) | $ (3,789) | $ 31,678 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
Beginning balance at Dec. 31, 2018 | $ 827,373 | $ 541,762 | $ 303,490 | $ (17,879) |
Beginning balance (in shares) at Dec. 31, 2018 | 30,417,223 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 22,726 | 22,726 | ||
Other comprehensive income (loss) | 8,952 | 8,952 | ||
Stock options exercised | 647 | $ 647 | ||
Stock options exercised (in shares) | 41,000 | |||
RSU vesting | 278 | $ 278 | ||
PSU vesting | 119 | $ 119 | ||
RSUs released | 0 | |||
RSUs released (in shares) | 355 | |||
PSUs released | 0 | |||
PSUs released (in shares) | 0 | |||
Repurchase of common stock | (1,035) | $ (466) | (569) | |
Repurchase of common stock (in shares) | (26,159) | |||
Dividends paid | (5,782) | (5,782) | ||
Ending balance at Mar. 31, 2019 | 853,278 | $ 542,340 | 319,865 | (8,927) |
Ending balance (in shares) at Mar. 31, 2019 | 30,432,419 | |||
Beginning balance at Dec. 31, 2019 | $ 906,570 | $ 543,998 | 367,794 | (5,222) |
Beginning balance (in shares) at Dec. 31, 2019 | 30,523,824 | 30,523,824 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | $ 16,121 | 16,121 | ||
Other comprehensive income (loss) | (19,910) | (19,910) | ||
Stock options exercised | $ 148 | $ 148 | ||
Stock options exercised (in shares) | 8,000 | 8,000 | ||
RSU vesting | $ 297 | $ 297 | ||
PSU vesting | 142 | $ 142 | ||
RSUs released | 0 | |||
RSUs released (in shares) | 362 | |||
PSUs released | 0 | |||
PSUs released (in shares) | 0 | |||
Repurchase of common stock | (17,295) | $ (9,962) | (7,333) | |
Repurchase of common stock (in shares) | (558,670) | |||
Dividends paid | (6,664) | (6,664) | ||
Ending balance at Mar. 31, 2020 | $ 866,426 | $ 534,623 | $ 356,935 | $ (25,132) |
Ending balance (in shares) at Mar. 31, 2020 | 29,973,516 | 29,973,516 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Common Stock | ||
Dividends paid, per share | $ 0.22 | $ 0.19 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating activities: | ||
Net income | $ 16,121 | $ 22,726 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation of premises and equipment, and amortization | 1,618 | 1,838 |
Amortization of intangible assets | 1,431 | 1,431 |
Provision for (reversal of) credit losses | 8,000 | (1,600) |
Amortization of investment securities premium, net | 509 | 571 |
Originations of loans for resale | (28,394) | (18,119) |
Proceeds from sale of loans originated for resale | 31,629 | 16,689 |
Gain on sale of loans | (891) | (412) |
Change in market value of mortgage servicing rights | 1,258 | 645 |
Gain on transfer of loans to foreclosed assets | 0 | (98) |
Gain on sale of foreclosed assets | (41) | (99) |
Operating lease expense payments | (1,237) | (1,218) |
Loss on disposal of fixed assets | 0 | 38 |
Increase in cash value of life insurance | (720) | (775) |
Gain on life insurance death benefit | 0 | (32) |
Gain on marketable equity securities | (47) | (36) |
Equity compensation vesting expense | 439 | 397 |
Change in: | ||
Interest receivable | 322 | (1,019) |
Interest payable | (421) | 198 |
Amortization of operating lease ROUA | 1,362 | 480 |
Other assets and liabilities, net | 2,609 | 450 |
Net cash from operating activities | 33,547 | 22,055 |
Investing activities: | ||
Proceeds from maturities of securities available for sale | 20,212 | 15,133 |
Proceeds from maturities of securities held to maturity | 15,592 | 13,684 |
Purchases of securities available for sale | (101,899) | (1,238) |
Loan origination and principal collections, net | (70,833) | (11,351) |
Proceeds from sale of other real estate owned | 353 | 278 |
Proceeds from sale of premises and equipment | 0 | 11 |
Purchases of premises and equipment | (761) | (1,650) |
Net cash from (used by) investing activities | (137,336) | 14,867 |
Financing activities: | ||
Net change in deposits | 35,704 | 63,796 |
Net change in other borrowings | 855 | (3,373) |
Repurchase of common stock, net of option exercises | (17,147) | (388) |
Dividends paid | (6,664) | (5,782) |
Net cash used from financing activities | 12,748 | 54,253 |
Net change in cash and cash equivalents | (91,041) | 91,175 |
Cash and cash equivalents, beginning of period | 276,507 | 227,533 |
Cash and cash equivalents, end of period | 185,466 | 318,708 |
Supplemental disclosure of noncash activities: | ||
Unrealized gain (loss) on securities available for sale | (29,561) | 12,710 |
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes | 148 | 647 |
Obligations incurred in conjunction with leased assets | 3,393 | 32,006 |
Loans transferred to foreclosed assets | 0 | 116 |
Supplemental disclosure of cash flow activity: | ||
Cash paid for interest expense | 3,746 | 3,389 |
Cash paid for income taxes | $ 0 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Description of Business and Basis of Presentation TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 29 California counties. The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp. The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1,792,000 are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheet. The subordinated debentures issued and guaranteed by the Company and held by the Capital Trusts are reflected as debt on the Company’s consolidated balance sheet. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading. Segment and Significant Group Concentration of Credit Risk The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout northern and central California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking. Geographical Descriptions For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo. Reclassification Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’equity. Cash and Cash Equivalents Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents. Allowance for Credit Losses - Held to Maturity Securities The Company measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on held-to-maturity debt securities totaled $920,000 at March 31, 2020 and is excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current condition and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption. Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized. Loans Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses. Allowance for Credit Losses - Loans The allowance for credit losses (ACL) is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate. Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels and U.S. gross domestic product. A loan is considered to be collateral dependent when repayment is expected to be provided substantially through the operation or sale of the collateral. The ACL on collateral dependent loans is measured using the fair value of the underlying collateral, adjusted for costs to sell when applicable, less the amortized cost basis of the financial asset. If the value of underlying collateral is determined to be less than the recorded amount of the loan, a charge-off will be taken. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, is considered to be a troubled debt restructuring (TDR). The ACL on a TDR is measured using the same method as all other portfolio loans, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the ACL is determined by discounting the expected future cash flows at the original interest rate of the loan. The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss: One to four residential term loans : The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate. Commercial mortgage loans : Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five ten fifteen thirty Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five ten fifteen thirty Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss. Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment. Consumer loans : Home equity lines of credit (HELOC): Similar to residential real estate term loans, HELOC performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC. Home equity loans: Similar to residential real estate term loans but secured by a deed of trust in a position that is junior to the primary lien holder. Consumer - Automobile and other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate. Commercial : Commercial and industrial: Primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits. Leases: The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above. Agriculture: Repayment is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural loans may involve a greater degree of risk than other types of loans. Construction : While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors. Unfunded commitments : The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the balance sheet in other liabilities. Accounting Standards Adopted in 2020 On January 1, 2020, the Company adopted ASU 2016-03 Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which replaces the incurred loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized costs, including loan receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in certain leases. In addition, ASC 326 made changes to the accounting for available for sale debt securities. One such change is to require increases or decreases in credit losses be presented as an allowance rather than as a write-down on available for sale debt securities, based on management's intent to sell the security or likelihood the Company will be required to sell the security, before recovery of the amortized cost basis. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (PCD) that were previously classified as purchase credit impaired (PCI) and accounted for under ASC 310-30. In accordance with the Standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. The remaining noncredit discount (based on the adjusted amortized costs basis) will be accreted into interest income at the effective interest rate as of adoption. The Company recognized an increase in the ACL for loans totaling $18,913,000, including a reclassification of $481,000 from discounts on acquired loans to the allowance for credit losses, as a cumulative effect adjustment from change in accounting policies, with a corresponding decrease in retained earnings, net of $5,449,000 in taxes of $12,983,000. Management has separately evaluated its held-to-maturity investment securities from obligations of state and political subdivisions and determined that no loss reserves were required. On January 1, 2020 the Company adopted ASU 2017-04, Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 350), which eliminates step two of the goodwill impairment test (the hypothetical purchase price allocation used to determine the implied fair value of goodwill) when step one (determining if the carrying value of a reporting unit exceeds its fair value) is failed. Instead, entities simply will compare the fair value of a reporting unit to its carrying amount and record goodwill impairment for the amount by which the reporting unit’s carrying amount exceeds its fair value. There was no goodwill impairment recorded during the quarter ended March 31, 2020. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the Coronavirus Disease 2019 (COVID-19) pandemic. The CARES Act provides optional temporary relief from troubled debt restructuring and impairment accounting requirements for loan modifications related to the COVID-19 pandemic made during the period from March 1, 2020 to the earlier of December 31, 2020 or 60 days after the national emergency concerning COVID-19 declared by the President terminates. The election of any such suspension would be applicable for the term of the loan modification but solely with respect to any modification (including a forbearance arrangement, an interest rate modification, a repayment plan and any other similar arrangement that defers or delays the payment of principal or interest) that occurs during the applicable period for a loan that was not more than 30 days past due as of December 31, 2019. The ability to suspend TDR accounting does not apply to any adverse impact on the credit of a borrower that is not related to the COVID-19 pandemic nor does it apply to borrowers. Accounting Standards Pending Adoption FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The guidance also promotes consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU No. 2019-12 will be effective for the Company beginning January 1, 2021 and is not expected to have a significant impact on the Company’s consolidated financial statements. FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform by providing optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected if certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Amendments in this ASU are effective for the Company as of March 12, 2020 through December 31, 2022. |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables: March 31, 2020 Amortized Gross Gross Allowance for Credit Losses Estimated (in thousands) Debt Securities Available for Sale Obligations of U.S. government agencies $ 447,736 $ 21,482 $ — $ — $ 469,218 Obligations of states and political subdivisions 110,564 3,561 — — 114,125 Corporate bonds 2,437 138 — — 2,575 Asset backed securities 467,436 8 (51,363) — 416,081 Total debt securities available for sale $ 1,028,173 $ 25,189 $ (51,363) $ — $ 1,001,999 March 31, 2020 Amortized Gross Gross Estimated Allowance for Credit Losses (in thousands) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 345,944 $ 17,352 $ (4) $ 363,292 $ — Obligations of states and political subdivisions 13,826 324 — 14,150 — Total debt securities held to maturity $ 359,770 $ 17,676 $ (4) $ 377,442 $ — December 31, 2019 Amortized Gross Gross Estimated (in thousands) Debt Securities Available for Sale Obligations of U.S. government agencies $ 466,139 $ 7,261 $ (420) $ 472,980 Obligations of states and political subdivisions 106,373 3,229 (1) 109,601 Corporate bonds 2,430 102 — 2,532 Asset backed securities 371,809 129 (6,913) 365,025 Total debt securities available for sale $ 946,751 $ 10,721 $ (7,334) $ 950,138 Debt Securities Held to Maturity Obligations of U.S. government agencies 361,785 6,072 (480) 367,377 Obligations of states and political subdivisions 13,821 327 — 14,148 Total debt securities held to maturity $ 375,606 $ 6,399 $ (480) $ 381,525 There were no sales of investment securities during the three months ended March 31, 2020 and 2019, respectively. Investment securities with an aggregate carrying value of $463,165,000 and $466,321,000 at March 31, 2020 and December 31, 2019, respectively, were pledged as collateral for specific borrowings, lines of credit or local agency deposits. The amortized cost and estimated fair value of debt securities at March 31, 2020 by contractual maturity are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At March 31, 2020, obligations of U.S. government corporations and agencies with a cost basis totaling $793,680,000 consist almost entirely of residential real estate mortgage-backed securities whose contractual maturity, or principal repayment, will follow the repayment of the underlying mortgages. For purposes of the following table, the entire outstanding balance of these mortgage-backed securities issued by U.S. government corporations and agencies is categorized based on final maturity date. At March 31, 2020, the Company estimates the average remaining life of these mortgage-backed securities issued by U.S. government corporations and agencies to be approximately 3.24 years. Average remaining life is defined as the time span after which the principal balance has been reduced by half. As of March 31, 2020, the contractual final maturity for available for sale and held to maturity investment securities is as follows: Debt Securities Available for Sale Held to Maturity (in thousands) Amortized Estimated Amortized Estimated Due in one year $ 604 $ 607 $ 1,279 $ 1,285 Due after one year through five years 18,264 18,958 — — Due after five years through ten years 114,545 103,673 22,271 23,136 Due after ten years 894,760 878,761 336,220 353,021 Totals $ 1,028,173 $ 1,001,999 $ 359,770 $ 377,442 Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: Less than 12 months 12 months or more Total March 31, 2020: Fair Unrealized Fair Unrealized Fair Unrealized (in thousands) Debt Securities Available for Sale Asset backed securities $ 166,612 $ (13,000) $ 248,222 $ (38,363) $ 414,834 $ (51,363) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 707 $ (4) $ — $ — $ 707 $ (4) Less than 12 months 12 months or more Total December 31, 2019: Fair Unrealized Fair Unrealized Fair Unrealized (in thousands) Debt Securities Available for Sale Obligations of U.S. government agencies $ 36,709 $ (309) $ 23,852 $ (111) $ 60,561 $ (420) Obligations of states and political subdivisions 778 (1) — — 778 (1) Asset backed securities 237,463 (4,535) 99,981 (2,378) 337,444 (6,913) Total debt securities available for sale $ 274,950 $ (4,845) $ 123,833 $ (2,489) $ 398,783 $ (7,334) Debt Securities Held to Maturity Obligations of U.S. government agencies 18,813 (142) 62,952 (338) 81,765 (480) Total debt securities held to maturity $ 18,813 $ (142) $ 62,952 $ (338) $ 81,765 $ (480) Obligations of U.S. government agencies: Unrealized losses on investments in obligations of U.S. government agencies are caused by interest rate increases and illiquidity. The contractual cash flows of these securities are guaranteed by U.S. Government Sponsored Entities (principally Fannie Mae and Freddie Mac). It is expected that the securities would not be settled at a price less than the amortized cost of the investment. Because the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, these investments are not considered other-than-temporarily impaired. At March 31, 2020, one debt security representing obligations of U.S. government agencies had unrealized losses with aggregate depreciation of 0.56% from the Company’s amortized cost basis. The Company evaluates if a credit loss exists by monitoring to ensure it has adequate credit support and as of March 31, 2020, the Company believes there is no expected allowance for credit losses. Asset backed securities: The unrealized losses on investments in asset backed securities were caused by increases in required yields by investors for these types of securities. At the time of purchase, each of these securities was rated AA or AAA and through March 31, 2020 has not experienced any deterioration in credit rating. At March 31, 2020, 15 asset backed securities had unrealized losses with aggregate depreciation of 11.02% from the Company’s amortized cost basis. The Company continues to monitor these securities for changes in credit rating or other indications of credit deterioration. Because management believes the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not intend to sell and more likely than not will not be required to sell, there is no impairment on these securities and there has been no allowance for credit losses recorded as of March 31, 2020. The Company monitors credit quality of debt securities held-to-maturity through the use of credit rating. The Company monitors the credit rating on a monthly basis. The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator: March 31, 2020 December 31, 2019 AAA/AA/A BBB/BB/B AAA/AA/A BBB/BB/B (In thousands) (In thousands) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 345,944 $ — $ 361,785 $ — Obligations of states and political subdivisions 13,137 689 13,136 685 Total debt securities held to maturity $ 359,081 $ 689 $ 374,921 $ 685 |
Loans
Loans | 3 Months Ended |
Mar. 31, 2020 | |
Receivables [Abstract] | |
Loans | Loans A summary of loan balances follows: (in thousands) March 31, 2020 December 31, 2019 Mortgage loans on real estate: Residential 1-4 family $ 506,833 $ 509,508 Commercial 2,889,183 2,818,782 Total mortgage loans on real estate 3,396,016 3,328,290 Consumer: Home equity lines of credit 341,461 334,300 Home equity loans 27,110 28,586 Other 82,427 82,656 Total consumer loans 450,998 445,542 Commercial 290,334 283,707 Construction: Residential 42,333 46,146 Commercial 199,381 203,681 Total construction loans 241,714 249,827 Total loans, net of deferred loan fees and discounts $ 4,379,062 $ 4,307,366 Total principal balance of loans owed, net of charge-offs $ 4,420,889 $ 4,351,725 Unamortized net deferred loan fees (8,794) (8,927) Discounts to principal balance of loans owed, net of charge-offs (33,033) (35,432) Total loans, net of unamortized deferred loan fees and discounts $ 4,379,062 $ 4,307,366 Allowance for loan losses $ (57,911) $ (30,616) |
Loans | Allowance for Credit Losses The following tables summarize the activity in the allowance for credit losses on loans, and ending balance of loans, net of unearned fees for the periods indicated: Allowance for Loan Losses – Three Months Ended March 31, 2020 (in thousands) Beginning Impact of CECL Adoption Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,306 $ 2,675 $ — $ 410 $ 259 $ 5,650 Commercial 11,995 11,848 — 194 5,216 29,253 Total mortgage loans on real estate 14,301 14,523 — 604 5,475 34,903 Consumer: Home equity lines of credit 5,572 4,549 — 33 369 10,523 Home equity loans 611 89 — 15 (42) 673 Other 1,595 971 (130) 94 216 2,746 Total consumer loans 7,778 5,609 (130) 142 543 13,942 Commercial 5,149 (2,152) (380) 146 1,708 4,471 Construction: Residential 630 189 — — 5 824 Commercial 2,758 744 — — 269 3,771 Total construction loans 3,388 933 — — 274 4,595 Total $ 30,616 $ 18,913 $ (510) $ 892 $ 8,000 $ 57,911 In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At both January 1, 2020, the adoption and implementation date of ASC Topic 326, and March 31, 2020, the Company utilized a reasonable and supportable forecast period of approximately eight quarters and obtained the forecast data from publicly available sources. The Company also considered the impact of portfolio concentrations, changes in underwriting practices, imprecision in its economic forecasts, and other risk factors that might influence its loss estimation process. During the quarter ended March 31, 2020 the levels of actual and forecasted California unemployment and gross domestic product continued to deteriorate and as a result, were the primary cause for the increase in allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2020 appropriately reflected expected credit losses inherent in the loan portfolio at that date. Allowance for Loan Losses – Year Ended December 31, 2019 (in thousands) Beginning Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,676 $ (2) $ 54 $ (422) $ 2,306 Commercial 12,944 (746) 1,528 (1,731) 11,995 Total mortgage loans on real estate 15,620 (748) 1,582 (2,153) 14,301 Consumer: Home equity lines of credit 6,042 — 504 (974) 5,572 Home equity loans 1,540 (3) 431 (1,357) 611 Other 793 (765) 321 1,246 1,595 Total consumer loans 8,375 (768) 1,256 (1,085) 7,778 Commercial 6,090 (2,123) 525 657 5,149 Construction: Residential 464 — — 166 630 Commercial 2,033 — — 725 2,758 Total construction loans 2,497 — — 891 3,388 Total $ 32,582 $ (3,639) $ 3,363 $ (1,690) $ 30,616 Allowance for Loan Losses – Three Months Ended March 31, 2019 (in thousands) Beginning Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,676 $ — $ 2 $ (178) $ 2,500 Commercial 12,944 — 1,381 (1,995) 12,330 Total mortgage loans on real estate 15,620 — 1,383 (2,173) 14,830 Consumer: Home equity lines of credit 6,042 — 95 (122) 6,015 Home equity loans 1,540 — 87 (341) 1,286 Other 793 (207) 75 379 1,040 Total consumer loans 8,375 (207) 257 (84) 8,341 Commercial 6,090 (519) 168 339 6,078 Construction: Residential 464 — — 84 548 Commercial 2,033 — — 234 2,267 Total construction loans 2,497 — — 318 2,815 Total $ 32,582 $ (726) $ 1,808 $ (1,600) $ 32,064 As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1,000,000 and non-homogeneous loans, such as commercial real estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1,000,000 threshold and homogenous in nature are evaluated as needed based on delinquency and borrower credit scores. The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows: • Pass – This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital. • Special Mention – This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention. • Substandard – This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program. • Doubtful – This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans. • Loss – This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset 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 the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated: (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage loans on real estate: Residential 1-4 family risk ratings Pass $25,698 $102,369 $59,278 $69,504 $60,063 $179,461 — $117 $496,490 Special Mention — — — 868 18 2,953 — 105 3,944 Substandard — — 574 996 51 4,778 — — 6,399 Doubtful/Loss — — — — — — — — — Total residential 1-4 family - mortgage loans $25,698 $102,369 $59,852 $71,368 $60,132 $187,192 $— $222 $506,833 Mortgage loans on real estate: Commercial risk ratings Pass $82,428 $457,462 $364,082 $443,054 $407,011 $967,584 $102,830 $1,501 $2,825,952 Special Mention 70 2,288 — 7,618 11,562 10,722 12,588 — 44,848 Substandard 200 1,394 1,445 1,580 3,191 9,801 772 — 18,383 Doubtful/Loss — — — — — — — — — Total commercial - mortgage loans $82,698 $461,144 $365,527 $452,252 $421,764 $988,107 $116,190 $1,501 $2,889,183 Consumer loans: Home equity line of credit risk ratings Pass $2,859 $8,591 $2,967 $714 $1,561 $10,815 $304,911 $627 $333,045 Special Mention 80 — 36 46 70 644 3,524 — 4,400 Substandard — — 57 529 80 1,078 2,266 6 4,016 Doubtful/Loss — — — — — — — — — Total home equity lines of credit - consumer loans $2,939 $8,591 $3,060 $1,289 $1,711 $12,537 $310,701 $633 $341,461 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Consumer loans: Home equity loans risk ratings Pass $2 $580 $290 $378 $673 $21,191 $500 $16 $23,630 Special Mention — — 19 — — 906 — — 925 Substandard 153 — — — 145 2,257 — — 2,555 Doubtful/Loss — — — — — — — — — Total home equity loans - consumer loans $155 $580 $309 $378 $818 $24,354 $500 $16 $27,110 Consumer loans: Other risk ratings Pass $7,679 $40,454 $20,465 $6,221 $1,883 $1,787 $1,747 $1,407 $81,643 Special Mention — 53 170 141 44 158 83 2 651 Substandard — 59 — 12 11 35 16 — 133 Doubtful/Loss — — — — — — — — — Total other - consumer loans $7,679 $40,566 $20,635 $6,374 $1,938 $1,980 $1,846 $1,409 $82,427 Commercial loans: Commercial risk ratings Pass $15,616 $66,145 $32,209 $25,226 $10,041 $17,434 $112,189 $5,164 $284,024 Special Mention — — 75 539 149 110 604 700 2,177 Substandard — 153 382 1,236 1,262 201 725 174 4,133 Doubtful/Loss — — — — — — — — — Total commercial loans $15,616 $66,298 $32,666 $27,001 $11,452 $17,745 $113,518 $6,038 $290,334 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Construction loans: Residential risk ratings Pass $1,725 $15,703 $17,067 $0 $3,459 $0 $0 $0 $37,954 Special Mention — — — — 4,379 — — — 4,379 Substandard — — — — — — — — — Doubtful/Loss — — — — — — — — — Total residential - construction loans $1,725 $15,703 $17,067 $0 $7,838 $0 $0 $0 $42,333 Construction loans: Commercial risk ratings Pass $14,081 $35,515 $82,740 $43,455 $15,793 $5,709 $0 $0 $197,293 Special Mention — — — — — 1,845 — — 1,845 Substandard — — — — — 243 — — 243 Doubtful/Loss — — — — — — — — — Total commercial - construction loans $14,081 $35,515 $82,740 $43,455 $15,793 $7,797 $0 $0 $199,381 Total loans: Risk ratings Pass $150,088 $726,819 $579,098 $588,552 $500,484 $1,203,981 $522,177 $8,832 $4,280,031 Special Mention 150 2,341 300 9,212 16,222 17,338 16,799 807 63,169 Substandard 353 1,606 2,458 4,353 4,740 18,393 3,779 180 35,862 Doubtful/Loss — — — — — — — — — Total loans $150,591 $730,766 $581,856 $602,117 $521,446 $1,239,712 $542,755 $9,819 $4,379,062 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage loans on real estate: Residential 1-4 family risk ratings Pass $102,613 $63,542 $73,195 $65,050 $194,214 — — $498,614 Special Mention — — 1,408 19 3,287 — — 4,714 Substandard — 813 711 52 4,604 — — 6,180 Doubtful/Loss — — — — — — — $0 Total residential 1-4 family - mortgage loans $102,613 $64,355 $75,314 $65,121 $202,105 $— $— $509,508 Mortgage loans on real estate: Commercial risk ratings Pass $446,597 $373,065 $421,901 $415,568 $1,010,057 $107,965 $748 $2,775,901 Special Mention — — 4,965 9,373 8,467 2,253 — 25,058 Substandard 830 1,454 1,591 3,216 9,937 795 — 17,823 Doubtful/Loss — — — — — — — — Total commercial - mortgage loans $447,427 $374,519 $428,457 $428,157 $1,028,461 $111,013 $748 $2,818,782 Consumer loans: Home equity line of credit risk ratings Pass $10,195 $3,436 $1,015 $1,729 $11,821 $297,458 $663 $326,317 Special Mention — 11 47 31 665 3,398 37 4,189 Substandard — 59 253 77 1,223 2,146 36 3,794 Doubtful/Loss — — — — — — — — Total home equity lines of credit - consumer loans $10,195 $3,506 $1,315 $1,837 $13,709 $303,002 $736 $334,300 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Consumer loans: Home equity loans risk ratings Pass $607 $300 $382 $712 $22,655 $399 $37 $25,092 Special Mention — 20 — — 1,172 — — 1,192 Substandard — — — 156 2,146 — — 2,302 Doubtful/Loss — — — — — — — — Total home equity loans - consumer loans $607 $320 $382 $868 $25,973 $399 $37 $28,586 Consumer loans: Other risk ratings Pass $45,675 $23,014 $7,176 $2,245 $2,099 $1,602 $3 $81,814 Special Mention 56 182 176 52 172 81 — 719 Substandard 60 — 13 1 45 1 3 123 Doubtful/Loss — — — — — — — — Total other - consumer loans $45,791 $23,196 $7,365 $2,298 $2,316 $1,684 $6 $82,656 Commercial loans: Commercial risk ratings Pass $77,614 $37,411 $27,195 $11,906 $17,806 $100,098 $3,623 $275,653 Special Mention — 339 1,236 167 164 1,921 — 3,827 Substandard — 48 1,481 1,646 393 611 48 4,227 Doubtful/Loss — — — — — — — — Total commercial loans $77,614 $37,798 $29,912 $13,719 $18,363 $102,630 $3,671 $283,707 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Construction loans: Residential risk ratings Pass $18,516 $12,990 $0 $3,319 $0 $6,230 $889 $41,944 Special Mention — — — 4,202 — — — 4,202 Substandard — — — — — — — — Doubtful/Loss — — — — — — — — Total residential - construction loans $18,516 $12,990 $0 $7,521 $0 $6,230 $889 $46,146 Construction loans: Commercial risk ratings Pass $31,031 $72,339 $76,043 $15,654 $7,322 $975 $0 $203,364 Special Mention — — — — 317 — — 317 Substandard — — — — — — — — Doubtful/Loss — — — — — — — — Total commercial - construction loans $31,031 $72,339 $76,043 $15,654 $7,639 $975 $0 $203,681 Total loans: Risk ratings Pass $732,848 $586,097 $606,907 $516,183 $1,265,974 $514,727 $5,963 $4,228,699 Special Mention 56 552 7,832 13,844 14,244 7,653 37 44,218 Substandard 890 2,374 4,049 5,148 18,348 3,553 87 34,449 Doubtful/Loss — — — — — — — — Total loans $733,794 $589,023 $618,788 $535,175 $1,298,566 $525,933 $6,087 $4,307,366 The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated: Analysis of Past Due Loans - As of March 31, 2020 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Mortgage loans on real estate: Residential 1-4 family $ 699 $ — $ 1,763 $ 2,462 $ 504,371 $ 506,833 Commercial 18,445 1,283 2,675 22,403 2,866,780 2,889,183 Total mortgage loans on real estate 19,144 1,283 4,438 24,865 3,371,151 3,396,016 Consumer: Home equity lines of credit 572 85 1,118 1,775 339,686 341,461 Home equity loans 200 64 193 457 26,653 27,110 Other 100 12 114 226 82,201 82,427 Total consumer loans 872 161 1,425 2,458 448,540 450,998 Commercial 1,014 932 70 2,016 288,318 290,334 Construction: Residential — — — — 42,333 42,333 Commercial — — — — 199,381 199,381 Total construction loans — — — — 241,714 241,714 Total originated loans $ 21,030 $ 2,376 $ 5,933 $ 29,339 $ 4,349,723 $ 4,379,062 The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated: Analysis of Past Due Loans - As of December 31, 2019 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Mortgage loans on real estate: Residential 1-4 family $ 1,149 $ 371 $ 1,957 $ 3,477 $ 506,031 $ 509,508 Commercial 581 136 2,431 3,148 2,815,634 2,818,782 Total mortgage loans on real estate 1,730 507 4,388 6,625 3,321,665 3,328,290 Consumer: Home equity lines of credit 1,083 363 956 2,402 331,898 334,300 Home equity loans 175 216 132 523 28,063 28,586 Other 172 1 23 196 82,460 82,656 Total consumer loans 1,430 580 1,111 3,121 442,421 445,542 Commercial 652 298 24 974 282,733 283,707 Construction: Residential — — — — 46,146 46,146 Commercial — — — — 203,681 203,681 Total construction loans — — — — 249,827 249,827 Total loans $ 3,812 $ 1,385 $ 5,523 $ 10,720 $ 4,296,646 $ 4,307,366 The following table shows the ending balance of non accrual loans by loan category as of the date indicated: Non Accrual Loans As of March 31, 2020 As of December 31, 2019 (in thousands) Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Mortgage loans on real estate: Residential 1-4 family $ 5,169 $ 5,784 $ — $ 5,023 $ 5,192 $ — Commercial 5,451 5,514 — 5,316 5,316 — Total mortgage loans on real estate 10,620 11,298 — 10,339 10,508 — Consumer: Home equity lines of credit 2,760 3,210 — 2,419 2,590 — Home equity loans 1,523 1,654 — 1,574 1,626 — Other — 140 — 4 51 11 Total consumer loans 4,283 5,004 3,997 4,267 11 Commercial 298 1,653 — 489 2,089 — Construction: Residential — — — — — — Commercial — — — — — — Total construction — — — — — — Total non accrual loans $ 15,201 $ 17,955 $ — $ 14,825 $ 16,864 $ 11 Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2020 and 2019, if all such loans had been current in accordance with their original terms, totaled $431,000 and $400,000, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2020 and 2019 was $47,000 and $93,000, respectively. The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods: As of March 31, 2020 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR -1st Deed SFR -2nd Deed Automobile/Truck A/R and Inventory Equipment Unsecured Total Mortgage loans on real estate: Residential 1-4 family $ — $ — $ — $ — $ — $ — $ 5,815 $ — $ — $ — $ — $ — $ 5,815 Commercial 2,483 161 1,866 506 2,060 1,203 — — — — — — 8,279 Total mortgage loans on real estate 2,483 161 1,866 506 2,060 1,203 5,815 — — — — — 14,094 Consumer: Home equity lines of credit — — — — — — — 1,936 — — — — 1,936 Home equity loans — — — — — — — 2,106 — — — — 2,106 Other — — — — — 156 47 — 127 — — 4 334 Total consumer loans — — — — — 156 47 4,042 127 — — 4 4,376 Commercial — — — — — — — — — 1,824 1,012 116 2,952 Total collateral dependent loans $ 2,483 $ 161 $ 1,866 $ 506 $ 2,060 $ 1,359 $ 5,862 $ 4,042 $ 127 $ 1,824 $ 1,012 $ 120 $ 21,422 As of December 31, 2019 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR -1st Deed SFR -2nd Deed Automobile/Truck A/R and Inventory Equipment Unsecured Total Mortgage loans on real estate: Residential 1-4 family $ — $ — $ — $ — $ — $ — $ 5,293 $ — $ — $ — $ — $ — $ 5,293 Commercial 2,506 163 1,640 509 2,060 1,242 — — — — — — 8,120 Total mortgage loans on real estate 2,506 163 1,640 509 2,060 1,242 5,293 — — — — — 13,413 Consumer: Home equity lines of credit — — — — — — — 1,808 — — — — 1,808 Home equity loans — — — — — — — 2,040 — — — — 2,040 Other — — — — — — 48 — 27 — — 4 79 Total consumer loans — — — — — — 48 3,848 27 — — 4 3,927 Commercial — — — — — — — — — 1,952 1,026 107 3,085 Total collateral dependent loans $ 2,506 $ 163 $ 1,640 $ 509 $ 2,060 $ 1,242 $ 5,341 $ 3,848 $ 27 $ 1,952 $ 1,026 $ 111 $ 20,425 TDR Information for the three months ended March 31, 2020 (dollars in thousands) Number Pre-mod Post-mod Financial Number that Recorded Financial impact Mortgage loans on real estate: Residential 1-4 family — $ — $ — $ — 1 $ 302 $ — Commercial 3 487 549 — — — — Total mortgage loans on real estate 3 487 549 — 1 302 — Consumer: Home equity lines of credit — — — — — — — Home equity loans 2 172 169 — — — — Other — — — — — — — Total consumer loans 2 172 169 — — — — Commercial 1 21 20 21 — — — Construction: Residential — — — — — — — Commercial — — — — — — — Total construction loans — — — — — — — Total 6 $ 680 $ 738 $ 21 1 $ 302 $ — TDR Information for the three months ended March 31, 2019 (dollars in thousands) Number Pre-mod Post-mod Financial Number that Recorded Financial impact Mortgage loans on real estate: Residential 1-4 family — $ 163 $ 162 $ — $ — $ — $ — Commercial — — — — — — — Total mortgage loans on real estate 1 163 162 — — — — Consumer: Home equity lines of credit — — — — — — — Home equity loans 1 121 120 1 — — — Other — — — — — — — Total consumer loans 1 121 120 1 — — — Commercial 2 15 15 — 1 7 — Construction: Residential — — — — — — Commercial — — — — — — Total construction loans — — — — — — — Total 4 $ 299 $ 297 $ 1 1 $ 7 $ — The Company also modified the terms of select loans in an effort to assist borrowers that were not related to the COVID-19 pandemic. If the borrower was experiencing financial difficulty and a concession was granted, the Company considered such modifications as troubled debt restructurings. Modifications classified as TDRs can include one or a combination of the following: rate modifications, term extensions, interest only modifications, either temporary or long-term, payment modifications, and collateral substitutions/additions. The objective of the modifications was to increase loan repayments by customers and thereby reduce net charge-offs. The modified loans are included in impaired loans for purposes of determining the level of the allowance for credit losses. For all new TDRs, an impairment analysis is conducted. If the loan is determined to be collateral dependent, any additional amount of impairment will be calculated based on the difference between estimated collectible value and the current carrying balance of the loan. This difference could result in an increased provision and is typically charged off. If the asset is determined not to be collateral dependent, the impairment is measured on the net present value difference between the expected cash flows of the restructured loan and the cash flows which would have been received under the original terms. The effect of this could result in a requirement for additional provision to the reserve. The effect of these required provisions for the period are indicated above. Typically if a TDR defaults during the period, the loan is then considered collateral dependent and, if it was not already considered collateral dependent, an appropriate provision will be reserved or charge will be taken. The additional provisions required resulting from default of previously modified TDR’s are noted above. Loans that defaulted within the twelve month period subsequent to modification were not considered significant for financial reporting purposes. |
Allowance for Credit Losses
Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2020 | |
Allowance For Loan And Lease Losses [Abstract] | |
Allowance for Credit Losses | Allowance for Credit Losses The following tables summarize the activity in the allowance for credit losses on loans, and ending balance of loans, net of unearned fees for the periods indicated: Allowance for Loan Losses – Three Months Ended March 31, 2020 (in thousands) Beginning Impact of CECL Adoption Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,306 $ 2,675 $ — $ 410 $ 259 $ 5,650 Commercial 11,995 11,848 — 194 5,216 29,253 Total mortgage loans on real estate 14,301 14,523 — 604 5,475 34,903 Consumer: Home equity lines of credit 5,572 4,549 — 33 369 10,523 Home equity loans 611 89 — 15 (42) 673 Other 1,595 971 (130) 94 216 2,746 Total consumer loans 7,778 5,609 (130) 142 543 13,942 Commercial 5,149 (2,152) (380) 146 1,708 4,471 Construction: Residential 630 189 — — 5 824 Commercial 2,758 744 — — 269 3,771 Total construction loans 3,388 933 — — 274 4,595 Total $ 30,616 $ 18,913 $ (510) $ 892 $ 8,000 $ 57,911 In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At both January 1, 2020, the adoption and implementation date of ASC Topic 326, and March 31, 2020, the Company utilized a reasonable and supportable forecast period of approximately eight quarters and obtained the forecast data from publicly available sources. The Company also considered the impact of portfolio concentrations, changes in underwriting practices, imprecision in its economic forecasts, and other risk factors that might influence its loss estimation process. During the quarter ended March 31, 2020 the levels of actual and forecasted California unemployment and gross domestic product continued to deteriorate and as a result, were the primary cause for the increase in allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2020 appropriately reflected expected credit losses inherent in the loan portfolio at that date. Allowance for Loan Losses – Year Ended December 31, 2019 (in thousands) Beginning Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,676 $ (2) $ 54 $ (422) $ 2,306 Commercial 12,944 (746) 1,528 (1,731) 11,995 Total mortgage loans on real estate 15,620 (748) 1,582 (2,153) 14,301 Consumer: Home equity lines of credit 6,042 — 504 (974) 5,572 Home equity loans 1,540 (3) 431 (1,357) 611 Other 793 (765) 321 1,246 1,595 Total consumer loans 8,375 (768) 1,256 (1,085) 7,778 Commercial 6,090 (2,123) 525 657 5,149 Construction: Residential 464 — — 166 630 Commercial 2,033 — — 725 2,758 Total construction loans 2,497 — — 891 3,388 Total $ 32,582 $ (3,639) $ 3,363 $ (1,690) $ 30,616 Allowance for Loan Losses – Three Months Ended March 31, 2019 (in thousands) Beginning Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,676 $ — $ 2 $ (178) $ 2,500 Commercial 12,944 — 1,381 (1,995) 12,330 Total mortgage loans on real estate 15,620 — 1,383 (2,173) 14,830 Consumer: Home equity lines of credit 6,042 — 95 (122) 6,015 Home equity loans 1,540 — 87 (341) 1,286 Other 793 (207) 75 379 1,040 Total consumer loans 8,375 (207) 257 (84) 8,341 Commercial 6,090 (519) 168 339 6,078 Construction: Residential 464 — — 84 548 Commercial 2,033 — — 234 2,267 Total construction loans 2,497 — — 318 2,815 Total $ 32,582 $ (726) $ 1,808 $ (1,600) $ 32,064 As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1,000,000 and non-homogeneous loans, such as commercial real estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1,000,000 threshold and homogenous in nature are evaluated as needed based on delinquency and borrower credit scores. The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows: • Pass – This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital. • Special Mention – This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention. • Substandard – This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program. • Doubtful – This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans. • Loss – This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset 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 the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified. Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated: (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage loans on real estate: Residential 1-4 family risk ratings Pass $25,698 $102,369 $59,278 $69,504 $60,063 $179,461 — $117 $496,490 Special Mention — — — 868 18 2,953 — 105 3,944 Substandard — — 574 996 51 4,778 — — 6,399 Doubtful/Loss — — — — — — — — — Total residential 1-4 family - mortgage loans $25,698 $102,369 $59,852 $71,368 $60,132 $187,192 $— $222 $506,833 Mortgage loans on real estate: Commercial risk ratings Pass $82,428 $457,462 $364,082 $443,054 $407,011 $967,584 $102,830 $1,501 $2,825,952 Special Mention 70 2,288 — 7,618 11,562 10,722 12,588 — 44,848 Substandard 200 1,394 1,445 1,580 3,191 9,801 772 — 18,383 Doubtful/Loss — — — — — — — — — Total commercial - mortgage loans $82,698 $461,144 $365,527 $452,252 $421,764 $988,107 $116,190 $1,501 $2,889,183 Consumer loans: Home equity line of credit risk ratings Pass $2,859 $8,591 $2,967 $714 $1,561 $10,815 $304,911 $627 $333,045 Special Mention 80 — 36 46 70 644 3,524 — 4,400 Substandard — — 57 529 80 1,078 2,266 6 4,016 Doubtful/Loss — — — — — — — — — Total home equity lines of credit - consumer loans $2,939 $8,591 $3,060 $1,289 $1,711 $12,537 $310,701 $633 $341,461 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Consumer loans: Home equity loans risk ratings Pass $2 $580 $290 $378 $673 $21,191 $500 $16 $23,630 Special Mention — — 19 — — 906 — — 925 Substandard 153 — — — 145 2,257 — — 2,555 Doubtful/Loss — — — — — — — — — Total home equity loans - consumer loans $155 $580 $309 $378 $818 $24,354 $500 $16 $27,110 Consumer loans: Other risk ratings Pass $7,679 $40,454 $20,465 $6,221 $1,883 $1,787 $1,747 $1,407 $81,643 Special Mention — 53 170 141 44 158 83 2 651 Substandard — 59 — 12 11 35 16 — 133 Doubtful/Loss — — — — — — — — — Total other - consumer loans $7,679 $40,566 $20,635 $6,374 $1,938 $1,980 $1,846 $1,409 $82,427 Commercial loans: Commercial risk ratings Pass $15,616 $66,145 $32,209 $25,226 $10,041 $17,434 $112,189 $5,164 $284,024 Special Mention — — 75 539 149 110 604 700 2,177 Substandard — 153 382 1,236 1,262 201 725 174 4,133 Doubtful/Loss — — — — — — — — — Total commercial loans $15,616 $66,298 $32,666 $27,001 $11,452 $17,745 $113,518 $6,038 $290,334 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Construction loans: Residential risk ratings Pass $1,725 $15,703 $17,067 $0 $3,459 $0 $0 $0 $37,954 Special Mention — — — — 4,379 — — — 4,379 Substandard — — — — — — — — — Doubtful/Loss — — — — — — — — — Total residential - construction loans $1,725 $15,703 $17,067 $0 $7,838 $0 $0 $0 $42,333 Construction loans: Commercial risk ratings Pass $14,081 $35,515 $82,740 $43,455 $15,793 $5,709 $0 $0 $197,293 Special Mention — — — — — 1,845 — — 1,845 Substandard — — — — — 243 — — 243 Doubtful/Loss — — — — — — — — — Total commercial - construction loans $14,081 $35,515 $82,740 $43,455 $15,793 $7,797 $0 $0 $199,381 Total loans: Risk ratings Pass $150,088 $726,819 $579,098 $588,552 $500,484 $1,203,981 $522,177 $8,832 $4,280,031 Special Mention 150 2,341 300 9,212 16,222 17,338 16,799 807 63,169 Substandard 353 1,606 2,458 4,353 4,740 18,393 3,779 180 35,862 Doubtful/Loss — — — — — — — — — Total loans $150,591 $730,766 $581,856 $602,117 $521,446 $1,239,712 $542,755 $9,819 $4,379,062 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage loans on real estate: Residential 1-4 family risk ratings Pass $102,613 $63,542 $73,195 $65,050 $194,214 — — $498,614 Special Mention — — 1,408 19 3,287 — — 4,714 Substandard — 813 711 52 4,604 — — 6,180 Doubtful/Loss — — — — — — — $0 Total residential 1-4 family - mortgage loans $102,613 $64,355 $75,314 $65,121 $202,105 $— $— $509,508 Mortgage loans on real estate: Commercial risk ratings Pass $446,597 $373,065 $421,901 $415,568 $1,010,057 $107,965 $748 $2,775,901 Special Mention — — 4,965 9,373 8,467 2,253 — 25,058 Substandard 830 1,454 1,591 3,216 9,937 795 — 17,823 Doubtful/Loss — — — — — — — — Total commercial - mortgage loans $447,427 $374,519 $428,457 $428,157 $1,028,461 $111,013 $748 $2,818,782 Consumer loans: Home equity line of credit risk ratings Pass $10,195 $3,436 $1,015 $1,729 $11,821 $297,458 $663 $326,317 Special Mention — 11 47 31 665 3,398 37 4,189 Substandard — 59 253 77 1,223 2,146 36 3,794 Doubtful/Loss — — — — — — — — Total home equity lines of credit - consumer loans $10,195 $3,506 $1,315 $1,837 $13,709 $303,002 $736 $334,300 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Consumer loans: Home equity loans risk ratings Pass $607 $300 $382 $712 $22,655 $399 $37 $25,092 Special Mention — 20 — — 1,172 — — 1,192 Substandard — — — 156 2,146 — — 2,302 Doubtful/Loss — — — — — — — — Total home equity loans - consumer loans $607 $320 $382 $868 $25,973 $399 $37 $28,586 Consumer loans: Other risk ratings Pass $45,675 $23,014 $7,176 $2,245 $2,099 $1,602 $3 $81,814 Special Mention 56 182 176 52 172 81 — 719 Substandard 60 — 13 1 45 1 3 123 Doubtful/Loss — — — — — — — — Total other - consumer loans $45,791 $23,196 $7,365 $2,298 $2,316 $1,684 $6 $82,656 Commercial loans: Commercial risk ratings Pass $77,614 $37,411 $27,195 $11,906 $17,806 $100,098 $3,623 $275,653 Special Mention — 339 1,236 167 164 1,921 — 3,827 Substandard — 48 1,481 1,646 393 611 48 4,227 Doubtful/Loss — — — — — — — — Total commercial loans $77,614 $37,798 $29,912 $13,719 $18,363 $102,630 $3,671 $283,707 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Construction loans: Residential risk ratings Pass $18,516 $12,990 $0 $3,319 $0 $6,230 $889 $41,944 Special Mention — — — 4,202 — — — 4,202 Substandard — — — — — — — — Doubtful/Loss — — — — — — — — Total residential - construction loans $18,516 $12,990 $0 $7,521 $0 $6,230 $889 $46,146 Construction loans: Commercial risk ratings Pass $31,031 $72,339 $76,043 $15,654 $7,322 $975 $0 $203,364 Special Mention — — — — 317 — — 317 Substandard — — — — — — — — Doubtful/Loss — — — — — — — — Total commercial - construction loans $31,031 $72,339 $76,043 $15,654 $7,639 $975 $0 $203,681 Total loans: Risk ratings Pass $732,848 $586,097 $606,907 $516,183 $1,265,974 $514,727 $5,963 $4,228,699 Special Mention 56 552 7,832 13,844 14,244 7,653 37 44,218 Substandard 890 2,374 4,049 5,148 18,348 3,553 87 34,449 Doubtful/Loss — — — — — — — — Total loans $733,794 $589,023 $618,788 $535,175 $1,298,566 $525,933 $6,087 $4,307,366 The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated: Analysis of Past Due Loans - As of March 31, 2020 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Mortgage loans on real estate: Residential 1-4 family $ 699 $ — $ 1,763 $ 2,462 $ 504,371 $ 506,833 Commercial 18,445 1,283 2,675 22,403 2,866,780 2,889,183 Total mortgage loans on real estate 19,144 1,283 4,438 24,865 3,371,151 3,396,016 Consumer: Home equity lines of credit 572 85 1,118 1,775 339,686 341,461 Home equity loans 200 64 193 457 26,653 27,110 Other 100 12 114 226 82,201 82,427 Total consumer loans 872 161 1,425 2,458 448,540 450,998 Commercial 1,014 932 70 2,016 288,318 290,334 Construction: Residential — — — — 42,333 42,333 Commercial — — — — 199,381 199,381 Total construction loans — — — — 241,714 241,714 Total originated loans $ 21,030 $ 2,376 $ 5,933 $ 29,339 $ 4,349,723 $ 4,379,062 The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated: Analysis of Past Due Loans - As of December 31, 2019 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Mortgage loans on real estate: Residential 1-4 family $ 1,149 $ 371 $ 1,957 $ 3,477 $ 506,031 $ 509,508 Commercial 581 136 2,431 3,148 2,815,634 2,818,782 Total mortgage loans on real estate 1,730 507 4,388 6,625 3,321,665 3,328,290 Consumer: Home equity lines of credit 1,083 363 956 2,402 331,898 334,300 Home equity loans 175 216 132 523 28,063 28,586 Other 172 1 23 196 82,460 82,656 Total consumer loans 1,430 580 1,111 3,121 442,421 445,542 Commercial 652 298 24 974 282,733 283,707 Construction: Residential — — — — 46,146 46,146 Commercial — — — — 203,681 203,681 Total construction loans — — — — 249,827 249,827 Total loans $ 3,812 $ 1,385 $ 5,523 $ 10,720 $ 4,296,646 $ 4,307,366 The following table shows the ending balance of non accrual loans by loan category as of the date indicated: Non Accrual Loans As of March 31, 2020 As of December 31, 2019 (in thousands) Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Mortgage loans on real estate: Residential 1-4 family $ 5,169 $ 5,784 $ — $ 5,023 $ 5,192 $ — Commercial 5,451 5,514 — 5,316 5,316 — Total mortgage loans on real estate 10,620 11,298 — 10,339 10,508 — Consumer: Home equity lines of credit 2,760 3,210 — 2,419 2,590 — Home equity loans 1,523 1,654 — 1,574 1,626 — Other — 140 — 4 51 11 Total consumer loans 4,283 5,004 3,997 4,267 11 Commercial 298 1,653 — 489 2,089 — Construction: Residential — — — — — — Commercial — — — — — — Total construction — — — — — — Total non accrual loans $ 15,201 $ 17,955 $ — $ 14,825 $ 16,864 $ 11 Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2020 and 2019, if all such loans had been current in accordance with their original terms, totaled $431,000 and $400,000, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2020 and 2019 was $47,000 and $93,000, respectively. The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods: As of March 31, 2020 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR -1st Deed SFR -2nd Deed Automobile/Truck A/R and Inventory Equipment Unsecured Total Mortgage loans on real estate: Residential 1-4 family $ — $ — $ — $ — $ — $ — $ 5,815 $ — $ — $ — $ — $ — $ 5,815 Commercial 2,483 161 1,866 506 2,060 1,203 — — — — — — 8,279 Total mortgage loans on real estate 2,483 161 1,866 506 2,060 1,203 5,815 — — — — — 14,094 Consumer: Home equity lines of credit — — — — — — — 1,936 — — — — 1,936 Home equity loans — — — — — — — 2,106 — — — — 2,106 Other — — — — — 156 47 — 127 — — 4 334 Total consumer loans — — — — — 156 47 4,042 127 — — 4 4,376 Commercial — — — — — — — — — 1,824 1,012 116 2,952 Total collateral dependent loans $ 2,483 $ 161 $ 1,866 $ 506 $ 2,060 $ 1,359 $ 5,862 $ 4,042 $ 127 $ 1,824 $ 1,012 $ 120 $ 21,422 As of December 31, 2019 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR -1st Deed SFR -2nd Deed Automobile/Truck A/R and Inventory Equipment Unsecured Total Mortgage loans on real estate: Residential 1-4 family $ — $ — $ — $ — $ — $ — $ 5,293 $ — $ — $ — $ — $ — $ 5,293 Commercial 2,506 163 1,640 509 2,060 1,242 — — — — — — 8,120 Total mortgage loans on real estate 2,506 163 1,640 509 2,060 1,242 5,293 — — — — — 13,413 Consumer: Home equity lines of credit — — — — — — — 1,808 — — — — 1,808 Home equity loans — — — — — — — 2,040 — — — — 2,040 Other — — — — — — 48 — 27 — — 4 79 Total consumer loans — — — — — — 48 3,848 27 — — 4 3,927 Commercial — — — — — — — — — 1,952 1,026 107 3,085 Total collateral dependent loans $ 2,506 $ 163 $ 1,640 $ 509 $ 2,060 $ 1,242 $ 5,341 $ 3,848 $ 27 $ 1,952 $ 1,026 $ 111 $ 20,425 TDR Information for the three months ended March 31, 2020 (dollars in thousands) Number Pre-mod Post-mod Financial Number that Recorded Financial impact Mortgage loans on real estate: Residential 1-4 family — $ — $ — $ — 1 $ 302 $ — Commercial 3 487 549 — — — — Total mortgage loans on real estate 3 487 549 — 1 302 — Consumer: Home equity lines of credit — — — — — — — Home equity loans 2 172 169 — — — — Other — — — — — — — Total consumer loans 2 172 169 — — — — Commercial 1 21 20 21 — — — Construction: Residential — — — — — — — Commercial — — — — — — — Total construction loans — — — — — — — Total 6 $ 680 $ 738 $ 21 1 $ 302 $ — TDR Information for the three months ended March 31, 2019 (dollars in thousands) Number Pre-mod Post-mod Financial Number that Recorded Financial impact Mortgage loans on real estate: Residential 1-4 family — $ 163 $ 162 $ — $ — $ — $ — Commercial — — — — — — — Total mortgage loans on real estate 1 163 162 — — — — Consumer: Home equity lines of credit — — — — — — — Home equity loans 1 121 120 1 — — — Other — — — — — — — Total consumer loans 1 121 120 1 — — — Commercial 2 15 15 — 1 7 — Construction: Residential — — — — — — Commercial — — — — — — Total construction loans — — — — — — — Total 4 $ 299 $ 297 $ 1 1 $ 7 $ — The Company also modified the terms of select loans in an effort to assist borrowers that were not related to the COVID-19 pandemic. If the borrower was experiencing financial difficulty and a concession was granted, the Company considered such modifications as troubled debt restructurings. Modifications classified as TDRs can include one or a combination of the following: rate modifications, term extensions, interest only modifications, either temporary or long-term, payment modifications, and collateral substitutions/additions. The objective of the modifications was to increase loan repayments by customers and thereby reduce net charge-offs. The modified loans are included in impaired loans for purposes of determining the level of the allowance for credit losses. For all new TDRs, an impairment analysis is conducted. If the loan is determined to be collateral dependent, any additional amount of impairment will be calculated based on the difference between estimated collectible value and the current carrying balance of the loan. This difference could result in an increased provision and is typically charged off. If the asset is determined not to be collateral dependent, the impairment is measured on the net present value difference between the expected cash flows of the restructured loan and the cash flows which would have been received under the original terms. The effect of this could result in a requirement for additional provision to the reserve. The effect of these required provisions for the period are indicated above. Typically if a TDR defaults during the period, the loan is then considered collateral dependent and, if it was not already considered collateral dependent, an appropriate provision will be reserved or charge will be taken. The additional provisions required resulting from default of previously modified TDR’s are noted above. Loans that defaulted within the twelve month period subsequent to modification were not considered significant for financial reporting purposes. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Leases | Leases The Company records a right-of-use asset (“ROUA”) on the consolidated balance sheets for those leases that convey rights to control use of identified assets for a period of time in exchange for consideration. The Company also records a lease liability on the consolidated balance sheets for the present value of future payment commitments. All of the Company’s leases are comprised of operating leases in which the Company is lessee of real estate property for branches, ATM locations, and general administration and operations. The Company elected not to include short-term leases (i.e. leases with initial terms of twelve months or less) within the ROUA and lease liability. Known or determinable adjustments to the required minimum future lease payments were included in the calculation of the Company’s ROUA and lease liability. Adjustments to the required minimum future lease payments that are variable and will not be determinable until a future period, such as changes in the consumer price index, are included as variable lease costs. Additionally, expected variable payments for common area maintenance, taxes and insurance were unknown and not determinable at lease commencement and therefore, were not included in the determination of the Company’s ROUA or lease liability. The value of the ROUA and lease liability is impacted by the amount of the periodic payment required, length of the lease term, and the discount rate used to calculate the present value of the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019 was used. The lease liability is reduced based on the discounted present value of remaining payments as of each reporting period. The ROUA value is measured using the amount of lease liability and adjusted for prepaid or accrued lease payments, remaining lease incentives, unamortized direct costs (if any), and impairment (if any). The following table presents the components of lease expense for the three months ended: (in thousands) March 31, 2020 March 31, 2019 Operating lease cost $ 1,294 $ 1,311 Short-term lease cost 63 71 Variable lease cost 6 (5) Sublease income (34) (34) Total lease cost $ 1,329 $ 1,343 The following table presents supplemental cash flow information related to leases for the three months ended: (in thousands) March 31, 2020 March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,237 $ 1,218 ROUA obtained in exchange for operating lease liabilities $ 3,393 $ 32,006 The following table presents the weighted average operating lease term and discount rate as of the periods ended: As of March 31, 2020 As of March 31, 2019 Weighted-average remaining lease term 10.3 9.5 Weighted-average discount rate 3.17 % 3.17 % At March 31, 2020, future expected operating lease payments are as follows: (in thousands) Periods ending December 31, 2020 $ 3,412 2021 4,428 2022 4,089 2023 3,410 2024 3,130 Thereafter 17,337 35,806 Discount for present value of expected cash flows (5,799) Lease liability at March 31, 2020 $ 30,007 |
Deposits
Deposits | 3 Months Ended |
Mar. 31, 2020 | |
Deposits [Abstract] | |
Deposits | Deposits A summary of the balances of deposits follows (in thousands): March 31, December 31, Noninterest-bearing demand $ 1,883,143 $ 1,832,665 Interest-bearing demand 1,243,192 1,242,274 Savings 1,857,684 1,851,549 Time certificates, $250,000 or more 111,262 129,061 Other time certificates 307,417 311,445 Total deposits $ 5,402,698 $ 5,366,994 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The following table presents a summary of the Bank’s commitments and contingent liabilities: (in thousands) March 31, December 31, Financial instruments whose amounts represent risk: Commitments to extend credit: Commercial loans $ 360,793 $ 363,793 Consumer loans 541,848 533,576 Real estate mortgage loans 189,921 188,959 Real estate construction loans 204,170 222,998 Standby letters of credit 12,084 12,014 Deposit account overdraft privilege 109,752 110,402 |
Shareholders' Equity
Shareholders' Equity | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Shareholders' Equity | Shareholders’ Equity Dividends Paid The Bank paid to the Company cash dividends in the aggregate amounts of $26,754,000 and $8,114,000 during the three months ended March 31, 2020 and 2019, respectively. The Bank is regulated by the Federal Deposit Insurance Corporation (FDIC) and the State of California Department of Business Oversight (DBO). Absent approval from the Commissioner of the DBO, California banking laws generally limit the Bank’s ability to pay dividends to the lesser of (1) retained earnings or (2) net income for the last three fiscal years, less cash distributions paid during such period. Stock Repurchase Plan On November 12, 2019 the Board of Directors approved the authorization to repurchase up to 1,525,000 shares of the Company's common stock (the 2019 Repurchase Plan), which approximated 5.0% of the shares outstanding as of the approval date. The actual timing of any share repurchases will be determined by the Company's management and therefore the total value of the shares to be purchased under the program is subject to change. The 2019 Repurchase Plan has no expiration date and as of and for quarter ended December 31, 2019, the Company had repurchased no shares. During the quarter ended March 31, 2020, the Company repurchased 553,869 shares with a market value of $17,139,000. In connection with approval of the 2019 Repurchase Plan, the Company’s previous repurchase program adopted on August 21, 2007 (the 2007 Repurchase Plan) was terminated. There were no shares of common stock repurchased under the 2007 Repurchase Plan during 2019. Stock Repurchased Under Equity Compensation Plans The Company's shareholder-approved equity compensation plans permit employees to tender recently vested shares in lieu of cash for the payment of withholding taxes on such shares. During the three months ended March 31, 2020 and 2019, employees tendered 4,668 and 26,068 shares, respectively, of the Company’s common stock in connection with option exercises. Employees also tendered 133 and 91 shares in connection with the tax withholding requirements of other share based awards during the three months ended March 31, 2020 and 2019, respectively. In total, shares of the Company's common stock tendered had market values of $153,000 and $1,036,000 during the quarter ended March 31, 2020 and 2019, respectively. The tendered shares were retired. The market value of tendered shares is the last market trade price at closing on the day an option is exercised or the other share based award vests. Stock repurchased under equity incentive plans are not included in the total of stock repurchased under the 2019 or 2007 Stock Repurchase Plans. |
Stock Options and Other Equity-
Stock Options and Other Equity-Based Incentive Instruments | 3 Months Ended |
Mar. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Stock Options and Other Equity-Based Incentive Instruments | Stock Options and Other Equity-Based Incentive InstrumentsThe Company’s 2009 Equity Incentive Plan (2009 Plan) expired on March 26, 2019. While no new awards can be granted under the 2009 Plan, existing grants continue to be governed by the terms, conditions and procedures set forth in any applicable award agreement. On April 16, 2019, the Board of Directors adopted the 2019 Equity Incentive Plan (2019 Plan) which was approved by shareholders on May 21, 2019. The 2019 Plan allows for up to 1,500,000 shares to be issued in connection with equity-based incentives. All grants of equity awards made during the three months ended March 31, 2020, if any, were made from the 2019 Plan. Stock option activity during the three months ended March 31, 2020 is summarized in the following table: Number Option Price Weighted Outstanding at December 31, 2019 160,500 $14.54 to $23.21 $ 17.60 Options granted — — — Options exercised (8,000) $17.54 to $19.46 18.50 Options forfeited — — — Outstanding at March 31, 2020 152,500 $14.54 to $23.21 $ 17.55 The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of March 31, 2020: Currently Currently Not Total Number of options 152,500 — 152,500 Weighted average exercise price $ 17.55 $ — $ 17.55 Intrinsic value (in thousands) $ 1,871 $ — $ 1,871 Weighted average remaining contractual term (yrs.) 2.6 0 2.6 As of March 31, 2020 all options outstanding are fully vested and are expected to be exercised prior to expiration. The Company did not modify any option grants during 2019 or the three months ended March 31, 2020. Activity related to restricted stock unit awards during the three months ended March 31, 2020 is summarized in the following table: Service Market Plus Outstanding at December 31, 2019 68,597 51,312 RSUs granted — — RSUs added through dividend and performance credits 521 — RSUs released (362) — RSUs forfeited/expired (80) (78) Outstanding at March 31, 2020 68,676 51,234 The 68,676 of service condition vesting RSUs outstanding as of March 31, 2020 include a feature whereby each RSU outstanding is credited with a dividend amount equal to any common stock cash dividend declared and paid, and the credited amount is divided by the closing price of the Company’s stock on the dividend payable date to arrive at an additional amount of RSUs outstanding under the original grant. The dividend credits follow the same vesting requirements as the RSU awards and are not considered participating securities. The 68,676 of service condition vesting RSUs outstanding as of March 31, 2020 are expected to vest, and be released, on a weighted-average basis, over the next 1.1 years. The Company expects to recognize $1,537,782 of pre-tax compensation costs related to these service condition vesting RSUs between March 31, 2020 and their vesting dates. The Company did not modify any service condition vesting RSUs during 2019 or during the three months ended March 31, 2020. The 51,234 of market plus service condition vesting RSUs outstanding as of March 31, 2020 are expected to vest, and be released, on a weighted-average basis, over the next 1.4 years. The Company expects to recognize $759,307 of pre-tax compensation costs related to these RSUs between March 31, 2020 and their vesting dates. As of March 31, 2020, the number of market plus service condition vesting RSUs outstanding that will actually vest, and be released, may be reduced to zero or increased to 76,851 depending on the total return of the Company’s common stock versus the total return of an index of bank stocks from the grant date to the vesting date. The Company did not modify any market plus service condition vesting RSUs during 2019 or during the three months ended March 31, 2020. |
Non-interest Income and Expense
Non-interest Income and Expense | 3 Months Ended |
Mar. 31, 2020 | |
Other Income and Expenses [Abstract] | |
Non-interest Income and Expense | Non-interest Income and Expense The following table summarizes the Company’s non-interest income for the periods indicated: Three months ended (dollars in thousands) 2020 2019 ATM and interchange fees $ 5,111 $ 4,581 Service charges on deposit accounts 4,046 3,880 Other service fees 758 771 Mortgage banking service fees 469 483 Change in value of mortgage servicing rights (1,258) (645) Total service charges and fees 9,126 9,070 Increase in cash value of life insurance 720 775 Asset management and commission income 916 642 Gain on sale of loans 891 412 Lease brokerage income 193 220 Sale of customer checks 124 140 Gain on sale of investment securities — — Gain on marketable equity securities 47 36 Other (197) 508 Total other non-interest income 2,694 2,733 Total non-interest income $ 11,820 $ 11,803 The components of non-interest expense were as follows (in thousands): Three months ended 2020 2019 Base salaries, net of deferred loan origination costs $ 17,623 $ 16,757 Incentive compensation 3,101 2,567 Benefits and other compensation costs 6,548 5,804 Total salaries and benefits expense 27,272 25,128 Occupancy 3,875 3,774 Data processing and software 3,367 3,349 Equipment 1,512 1,867 Intangible amortization 1,431 1,431 Advertising 665 1,331 ATM and POS network charges 1,373 1,323 Professional fees 703 839 Telecommunications 725 797 Regulatory assessments and insurance 95 511 Postage 290 310 Operational losses 221 225 Courier service 331 270 Gain on sale of foreclosed assets (41) (99) Loss on disposal of fixed assets — 24 Other miscellaneous expense 3,000 4,372 Total other non-interest expense 17,547 20,324 Total non-interest expense $ 44,819 $ 45,452 |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share represent income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustments to income that would result from assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following: Three months ended (in thousands) 2020 2019 Net income $ 16,121 $ 22,726 Average number of common shares outstanding 30,395 30,424 Effect of dilutive stock options and restricted stock 128 234 Average number of common shares outstanding used to calculate diluted earnings 30,523 30,658 Options excluded from diluted earnings per share because the effect of these — — |
Comprehensive Income
Comprehensive Income | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Comprehensive Income | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of other comprehensive income. The components of other comprehensive income (loss) and related tax effects are as follows: Three months ended March 31, (in thousands) 2020 2019 Unrealized holding gains (losses) on available for sale securities before reclassifications $ (29,561) $ 12,710 Tax effect 8,739 (3,758) Unrealized holding gains (losses) on available for sale securities, net of tax (20,822) 8,952 Change in unfunded status of the supplemental retirement plans before reclassifications 448 (89) Amounts reclassified out of accumulated other comprehensive income (loss): Amortization of prior service cost (14) (13) Amortization of actuarial losses 478 102 Total amounts reclassified out of accumulated other comprehensive income (loss) 464 89 Change in unfunded status of the supplemental retirement plans after reclassifications 912 — Tax effect — — Change in unfunded status of the supplemental retirement plans, net of tax 912 — Total other comprehensive income (loss) $ (19,910) $ 8,952 The components of accumulated other comprehensive income (loss), included in shareholders’ equity, are as follows: (in thousands) March 31, December 31, Net unrealized gain (loss) on available for sale securities $ (26,174) $ 3,387 Tax effect 7,738 (1,001) Unrealized holding gain (loss) on available for sale securities, net of tax (18,436) 2,386 Unfunded status of the supplemental retirement plans (11,193) (11,193) Tax effect 3,309 3,309 Unfunded status of the supplemental retirement plans, net of tax (7,884) (7,884) Joint beneficiary agreement liability 1,188 276 Tax effect — — Joint beneficiary agreement liability, net of tax 1,188 276 Accumulated other comprehensive income (loss) $ (25,132) $ (5,222) |
Fair Value Measurement
Fair Value Measurement | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Fair Value Measurement The Company utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In estimating fair value, the Company utilizes valuation techniques that are consistent with the market approach, income approach, and/or the cost approach. Inputs to valuation techniques include the assumptions that market participants would use in pricing an asset or liability including assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of nonperformance. Marketable equity securities, debt securities available-for-sale, loans held for sale, and mortgage servicing rights are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application impairment write-downs of individual assets. The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observable nature of the assumptions used to determine fair value. These levels are: Level 1 - Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 - Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Marketable equity securities and debt securities available for sale - Marketable equity securities and debt securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities issued by government sponsored entities, municipal bonds and corporate debt securities. The Company had no securities classified as Level 3 during any of the periods covered in these financial statements. Loans held for sale - Loans held for sale are carried at the lower of cost or fair value. The fair value of loans held for sale is based on what secondary markets are currently offering for loans with similar characteristics. As such, we classify those loans subjected to recurring fair value adjustments as Level 2. Individually evaluated loans - Loans are not recorded at fair value on a recurring basis. However, from time to time, certain loans have individual risk characteristics not consistent with a pool of loans and is individually evaluated for credit reserves. Loans for which it is probable that payment of interest and principal will not be made in accordance with the original contractual terms of the loan agreement are typically individually evaluated. The fair value of these loans are estimated using one of several methods, including collateral value, fair value of similar debt, enterprise value, liquidation value and discounted cash flows. Those loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. Loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the loan as nonrecurring Level 3. Foreclosed assets - Foreclosed assets include assets acquired through, or in lieu of, loan foreclosure. Foreclosed assets are held for sale and are initially recorded at fair value at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, management periodically performs valuations and the assets are carried at the lower of carrying amount or fair value less cost to sell. When the fair value of foreclosed assets is based on an observable market price or a current appraised value which uses substantially observable data, the Company records the loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value, or the appraised value contains a significant unobservable assumption, such as deviations from comparable sales, and there is no observable market price, the Company records the foreclosed asset as nonrecurring Level 3. Revenue and expenses from operations and changes in the valuation allowance are included in other non-interest expense. Mortgage servicing rights - Mortgage servicing rights are carried at fair value. A valuation model, which utilizes a discounted cash flow analysis using a discount rate and prepayment speed assumptions is used in the computation of the fair value measurement. While the prepayment speed assumption is currently quoted for comparable instruments, the discount rate assumption currently requires a significant degree of management judgment and is therefore considered an unobservable input. As such, the Company classifies mortgage servicing rights subjected to recurring fair value adjustments as Level 3. The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands): Fair value at March 31, 2020 Total Level 1 Level 2 Level 3 Marketable equity securities $ 3,007 $ 3,007 $ — $ — Debt securities available for sale: Obligations of U.S. government corporations and agencies 469,218 — 469,218 — Obligations of states and political subdivisions 114,125 — 114,125 — Corporate bonds 2,575 — 2,575 — Asset backed securities 416,081 — 416,081 — Loans held for sale 2,695 — 2,695 — Mortgage servicing rights 5,168 — — 5,168 Total assets measured at fair value $ 1,012,869 $ 3,007 $ 1,004,694 $ 5,168 Fair value at December 31, 2019 Total Level 1 Level 2 Level 3 Marketable equity securities $ 2,960 $ 2,960 $ — $ — Debt securities available for sale: Obligations of U.S. government corporations and agencies 472,980 — 472,980 — Obligations of states and political subdivisions 109,601 — 109,601 — Corporate bonds 2,532 — 2,532 — Asset backed securities 365,025 — 365,025 — Loans held for sale 5,265 — 5,265 — Mortgage servicing rights 6,200 — — 6,200 Total assets measured at fair value $ 964,563 $ 2,960 $ 955,403 $ 6,200 Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally corresponds with the Company’s quarterly valuation process. There were no transfers between any levels during the three months ended March 31, 2020 or the year ended December 31, 2019. The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands): Three months ended March 31, Beginning Transfers Change Issuances Ending 2020: Mortgage servicing rights $ 6,200 — $ (1,258) $ 226 $ 5,168 2019: Mortgage servicing rights $ 7,098 — $ (645) $ 119 $ 6,572 Three months ended March 31, The key unobservable inputs used in determining the fair value of mortgage servicing rights are mortgage prepayment speeds and the discount rate used to discount cash projected cash flows. Generally, any significant increases in the mortgage prepayment speed and discount rate utilized in the fair value measurement of the mortgage servicing rights will result in a negative fair value adjustments (and decrease in the fair value measurement). Conversely, a decrease in the mortgage prepayment speed and discount rate will result in a positive fair value adjustment (and increase in the fair value measurement). The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2020 and December 31, 2019: As of March 31, 2020: Fair Value Valuation Unobservable Range, Mortgage Servicing Rights $ 5,168 Discounted cash flow Constant prepayment rate 7% - 42%; 11% Discount rate 10% - 14%; 12% As of December 31, 2019: Mortgage Servicing Rights $ 6,200 Discounted cash flow Constant prepayment rate 6% - 42.0%; 11.0% Discount rate 10% - 14%; 12% The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated (in thousands): March 31, 2020 Total Level 1 Level 2 Level 3 Total Losses Fair value: Individually evaluated loans $ 105 — — $ 105 $ (107) December 31, 2019 Total Level 1 Level 2 Level 3 Total Losses Fair value: Individually evaluated loans $ 1,055 — — $ 1,055 $ (652) Foreclosed assets 417 — — 417 (27) Total assets measured at fair value $ 1,472 — — $ 1,472 $ (679) March 31, 2019 Total Level 1 Level 2 Level 3 Total Losses Fair value: Individually evaluated loans $ 212 — — $ 212 $ (197) Foreclosed assets 214 — — 214 — Total assets measured at fair value $ 426 — — $ 426 $ (197) The individually evaluated loan amounts above represent collateral dependent loans that have been adjusted to fair value. When the Company identifies a collateral dependent loan with unique risk characteristics, the Company evaluates the need for an allowance using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan, the fair value of collateral is generally estimated by obtaining external appraisals. If the Company determines that the value of the loan is less than the recorded investment in the loan, the Company recognizes this impairment and adjust the carrying value of the loan to fair value through the allowance for credit losses. The loss represents charge-offs or impairments on collateral dependent loans for fair value adjustments based on the fair value of collateral. The carrying value of loans fully charged-off is zero. The foreclosed assets amount above represents impaired real estate that has been adjusted to fair value. Foreclosed assets represent real estate which the Company has taken control of in partial or full satisfaction of loans. At the time of foreclosure, other real estate owned is recorded at fair value less costs to sell, which becomes the property’s new basis. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for credit losses. After foreclosure, management periodically performs valuations such that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell. Fair value adjustments on other real estate owned are recognized within net loss on real estate owned. The loss represents impairments on real estate owned for fair value adjustments based on the fair value of the real estate. The Company’s property appraisals are primarily based on the sales comparison approach and income approach methodologies, which consider recent sales of comparable properties, including their income generating characteristics, and then make adjustments to reflect the general assumptions that a market participant would make when analyzing the property for purchase. These adjustments may increase or decrease an appraised value and can vary significantly depending on the location, physical characteristics and income producing potential of each property. Additionally, the quality and volume of market information available at the time of the appraisal can vary from period to period and cause significant changes to the nature and magnitude of comparable sale adjustments. Given these variations, comparable sale adjustments are generally not a reliable indicator for how fair value will increase or decrease from period to period. Under certain circumstances, management discounts are applied based on specific characteristics of an individual property. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at March 31, 2020: March 31, 2020 Fair Value Valuation Unobservable Inputs Range, Individually evaluated loans $ 105 Sales comparison Adjustment for differences between Not meaningful The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2019: December 31, 2019 Fair Value Valuation Unobservable Inputs Range, Individually evaluated loans $ 1,055 Sales comparison Adjustment for differences between Not meaningfulN/A Foreclosed assets (Residential real estate) $ 417 Sales comparison Adjustment for differences between Not meaningfulN/A Fair values for financial instruments are management’s estimates of the values at which the instruments could be exchanged in a transaction between willing parties. The Company uses the exit price notion when measuring the fair value of financial instruments. These estimates are subjective and may vary significantly from amounts that would be realized in actual transactions. In addition, other significant assets are not considered financial assets including, any mortgage banking operations, deferred tax assets, and premises and equipment. Further, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on the fair value estimates and have not been considered in any of these estimates. March 31, 2020 December 31, 2019 (in thousands) Carrying Fair Carrying Fair Financial assets: Level 1 inputs: Cash and due from banks $ 95,364 $ 95,364 $ 92,816 $ 92,816 Cash at Federal Reserve and other banks 90,102 90,102 183,691 183,691 Level 2 inputs: Securities held to maturity 359,770 377,442 375,606 381,525 Restricted equity securities 17,250 N/A 17,250 N/A Level 3 inputs: Loans, net 4,321,151 4,307,323 4,276,750 4,263,064 Financial liabilities: Level 2 inputs: Deposits 5,402,698 5,401,617 5,366,994 5,365,921 Other borrowings 19,309 19,309 18,454 18,454 Level 3 inputs: Junior subordinated debt 57,323 56,254 57,232 56,297 (in thousands) Contract Fair Contract Fair Off-balance sheet: Level 3 inputs: Commitments $ 1,296,732 $ 12,967 $ 1,309,326 $ 13,093 Standby letters of credit 12,084 121 12,014 120 Overdraft privilege commitments 109,752 1,098 110,402 1,104 |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2020 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | Regulatory Matters The Company is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1, and common equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. The following tables present actual and required capital ratios as of March 31, 2020 and December 31, 2019 for the Company and the Bank under applicable Basel III Capital Rules. The minimum capital amounts presented include the minimum required capital levels as of March 31, 2020 and December 31, 2019 based on the then phased-in provisions of the Basel III Capital Rules. As of January 1, 2019, the minimum required capital levels of the Basel III Capital Rules have been fully phased-in. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Actual Required for Capital Adequacy Purposes Required to be As of March 31, 2020: Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets): Consolidated $ 762,763 15.12 % $ 529,576 10.50 % N/A N/A Tri Counties Bank $ 755,893 14.99 % $ 529,388 10.50 % $ 504,179 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 702,007 13.92 % $ 428,705 8.50 % N/A N/A Tri Counties Bank $ 695,137 13.79 % $ 428,552 8.50 % $ 403,343 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 646,407 12.82 % $ 353,051 7.00 % N/A N/A Tri Counties Bank $ 695,137 13.79 % $ 352,925 7.00 % $ 327,716 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 702,007 11.22 % $ 250,216 4.00 % N/A N/A Tri Counties Bank $ 695,137 11.11 % $ 250,209 4.00 % $ 312,762 5.00 % Actual Required for Capital Adequacy Purposes Required to be As of December 31, 2019: Amount As of : Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets): Consolidated $ 753,200 15.07 % $ 524,944 10.50 % N/A N/A Tri Counties Bank $ 748,660 14.98 % $ 524,759 10.50 % $ 499,770 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 719,809 14.40 % $ 424,955 8.50 % N/A N/A Tri Counties Bank $ 715,269 14.31 % $ 424,805 8.50 % $ 399,816 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 664,296 13.29 % $ 349,963 7.00 % N/A N/A Tri Counties Bank $ 715,269 14.31 % $ 349,839 7.00 % $ 324,851 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 719,809 11.55 % $ 249,343 4.00 % N/A N/A Tri Counties Bank $ 715,269 11.47 % $ 249,337 4.00 % $ 311,672 5.00 % As of March 31, 2020 and December 31, 2019, capital levels at the Company and the Bank exceed all capital adequacy requirements under the Basel III Capital Rules. Also, at March 31, 2020 and December 31, 2019, the Bank’s capital levels exceeded the minimum amounts necessary to be considered well capitalized under the current regulatory framework for prompt corrective action. The Basel III Capital Rules require for all banking organizations to maintain a capital conservation buffer above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases and discretionary bonus payments to executive officers. The capital conservation buffer is exclusively composed of common equity tier 1 capital, and it applies to each of the risk-based capital ratios but not the leverage ratio. At March 31, 2020, the Company and the Bank are in compliance with the capital conservation buffer requirement. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Description of Business and Basis of Presentation | TriCo Bancshares (the “Company” or “we”) is a California corporation organized to act as a bank holding company for Tri Counties Bank (the “Bank”). The Company and the Bank are headquartered in Chico, California. The Bank is a California-chartered bank that is engaged in the general commercial banking business in 29 California counties. The Company has five capital subsidiary business trusts (collectively, the “Capital Trusts”) that issued trust preferred securities, including two organized by the Company and three acquired with the acquisition of North Valley Bancorp. The consolidated financial statements are prepared in accordance with accounting policies generally accepted in the United States of America and general practices in the banking industry. All adjustments necessary for a fair presentation of these consolidated financial statements have been included and are of a normal and recurring nature. The financial statements include the accounts of the Company. All inter-company accounts and transactions have been eliminated in consolidation. For financial reporting purposes, the Company’s investments in the Capital Trusts of $1,792,000 are accounted for under the equity method and, accordingly, are not consolidated and are included in other assets on the consolidated balance sheet. The subordinated debentures issued and guaranteed by the Company and held by the Capital Trusts are reflected as debt on the Company’s consolidated balance sheet. |
Use of Estimates in the Preparation of Financial Statements | The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires Management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Annual Report”). The Company believes that the disclosures made are adequate to make the information not misleading. |
Segment and Significant Group Concentration of Credit Risk | The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout northern and central California. The Company has a diversified loan portfolio within the business segments located in this geographical area. The Company currently classifies all its operation into one business segment that it denotes as community banking. |
Geographical Descriptions | For the purpose of describing the geographical location of the Company’s operations, the Company has defined northern California as that area of California north of, and including, Stockton to the east and San Jose to the west; central California as that area of the state south of Stockton and San Jose, to and including, Bakersfield to the east and San Luis Obispo to the west; and southern California as that area of the state south of Bakersfield and San Luis Obispo. |
Reclassification | Some items in the prior year consolidated financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or shareholders’equity. |
Cash and Cash Equivalents | Net cash flows are reported for loan and deposit transactions and other borrowings. For purposes of the consolidated statement of cash flows, cash, due from banks with original maturities less than 90 days, interest-earning deposits in other banks, and Federal funds sold are considered to be cash equivalents. |
Allowance for Credit Losses - Held to Maturity Securities | The Company measures expected credit losses on held-to-maturity debt securities on a collective basis by major security type, then further disaggregated by sector and bond rating. Accrued interest receivable on held-to-maturity debt securities totaled $920,000 at March 31, 2020 and is excluded from the estimate of credit losses. The estimate of expected credit losses considers historical credit loss information that is adjusted for current condition and reasonable and supportable forecasts based on current and expected changes in credit ratings and default rates. Based on the implied guarantees of the U. S. Government or its agencies related to certain of these investment securities, and the absence of any historical or expected losses, substantially all qualify for a zero loss assumption. Management has separately evaluated its HTM investment securities from obligations of state and political subdivisions utilizing the historical loss data represented by similar securities over a period of time spanning nearly 50 years. As a result of this evaluation, management determined that the expected credit losses associated with these securities is not significant for financial reporting purposes and therefore, no allowance for credit losses has been recognized. |
Loans | Loans that management has the intent and ability to hold until maturity or payoff are reported at principle amount outstanding, net of deferred loan fees and costs. Loans are placed in nonaccrual status when reasonable doubt exists as to the full, timely collection of interest or principal, or a loan becomes contractually past due by 90 days or more with respect to interest or principal and is not well secured and in the process of collection. When a loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed against interest income. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is considered probable. Interest accruals are resumed on such loans only when they are brought fully current with respect to interest and principal and when, in the judgment of Management, the loan is estimated to be fully collectible as to both principal and interest. Accrued interest receivable is not included in the calculation of the allowance for credit losses. |
Allowance for Credit Losses - Loans | The allowance for credit losses (ACL) is a valuation account that is deducted from the loan's amortized cost basis to present the net amount expected to be collected on the loans. Loans are charged off against the allowance when management believes the recorded loan balance is confirmed as uncollectible. Expected recoveries do not exceed the aggregate of amounts previously charged-off and expected to be charged-off. Regardless of the determination that a charge-off is appropriate for financial accounting purposes, the Company manages its loan portfolio by continually monitoring, where possible, a borrower's ability to pay through the collection of financial information, delinquency status, borrower discussion and the encouragement to repay in accordance with the original contract or modified terms, if appropriate. Management estimates the allowance balance using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The allowance for credit losses is measured on a collective (pool) basis when similar risk characteristics exist. Historical credit loss experience provides the basis for the estimation of expected credit losses, which captures loan balances as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over the remaining life. The Company identified and accumulated loan cohort historical loss data beginning with the fourth quarter of 2008 and through the current period. In situations where the Company's actual loss history was not statistically relevant, the loss history of peers, defined as financial institutions with assets greater than three billion and less than ten billion, were utilized to create a minimum loss rate. Adjustments to historical loss information are made for differences in relevant current loan-specific risk characteristics, such as historical timing of losses relative to the loan origination. In its loss forecasting framework, the Company incorporates forward-looking information through the use of macroeconomic scenarios applied over the forecasted life of the assets. These macroeconomic scenarios incorporate variables that have historically been key drivers of increases and decreases in credit losses. These variables include, but are not limited to changes in environmental conditions, such as California unemployment rates, household debt levels and U.S. gross domestic product. A loan is considered to be collateral dependent when repayment is expected to be provided substantially through the operation or sale of the collateral. The ACL on collateral dependent loans is measured using the fair value of the underlying collateral, adjusted for costs to sell when applicable, less the amortized cost basis of the financial asset. If the value of underlying collateral is determined to be less than the recorded amount of the loan, a charge-off will be taken. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, is considered to be a troubled debt restructuring (TDR). The ACL on a TDR is measured using the same method as all other portfolio loans, except when the value of a concession cannot be measured using a method other than the discounted cash flow method. When the value of a concession is measured using the discounted cash flow method, the ACL is determined by discounting the expected future cash flows at the original interest rate of the loan. The Company has identified the following portfolio segments to evaluate and measure the allowance for credit loss: One to four residential term loans : The most significant drivers of potential loss within the Company's residential real estate portfolio relate general, regional, or individual changes in economic conditions and their effect on employment and borrowers cash flow. Risk in this portfolio is best measured by changes in borrower credit score and loan-to-value. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the value of homes and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate. Commercial mortgage loans : Commercial real estate - Owner occupied: These credits are primarily susceptible to changes in the financial condition of the business operated by the property owner. This may be driven by changes in, among other things, industry challenges, factors unique to the operating geography of the borrower, change in the individual fortunes of the business owner, general economic conditions and changes in business cycles. When default is driven by issues related specifically to the business owner, collateral values tend to provide better repayment support and may result in little or no loss. Alternatively, when default is driven more by general economic conditions, the underlying collateral may have devalued more and thus result in larger losses in the event of default. The terms on these loans at origination typically have maturities from five ten fifteen thirty Commercial real estate - Non-owner occupied: These commercial properties typically consist of buildings which are leased to others for their use and rely on rents as the primary source of repayment. Property types are predominantly office, retail, or light industrial but the portfolio also has some special use properties. As such, the risk of loss associated with these properties is primarily driven by general economic changes or changes in regional economies and the impact of such on a tenant’s ability to pay. Ultimately this can affect occupancy, rental rates, or both. Additional risk of loss can come from new construction resulting in oversupply, the costs to hold or operate the property, or changes in interest rates. The terms on these loans at origination typically have maturities from five ten fifteen thirty Multifamily: These commercial properties are generally comprised of more than four rentable units, such as apartment buildings, with each unit intended to be occupied as the primary residence for one or more persons. Multifamily properties are also subject to changes in general or regional economic conditions, such as unemployment, ultimately resulting in increased vacancy rates or reduced rents or both. In addition, new construction can create an oversupply condition and market competition resulting in increased vacancy, reduced market rents, or both. Due to the nature of their use and the greater likelihood of tenant turnover, the management of these properties is more intensive and therefore is more critical to the preclusion of loss. Farmland: While the Company has few loans that were originated for the purpose of the acquisition of these commercial properties, loans secured by farmland represent unique risks that are associated with the operation of an agricultural businesses. The valuation of farmland can vary greatly over time based on the property's access to resources including but not limited to water, crop prices, foreign exchange rates, government regulation or restrictions, and the nature of ongoing capital investment needed to maintain the quality of the property. Loans secured by farmland typically represent less risk to the Company than other agriculture loans as the real estate typically provides greater support in the event of default or need for longer term repayment. Consumer loans : Home equity lines of credit (HELOC): Similar to residential real estate term loans, HELOC performance is also primarily driven by borrower cash flows based on employment status. However, HELOCs carry additional risks associated with the fact that most of these loans are secured by a deed of trust in a position that is junior to the primary lien holder. Furthermore, the risk that as the borrower's financial strength deteriorates, the outstanding balance on these credit lines may increase as they may only be canceled by the Company if certain limited criteria are met. In addition to the allowance for credit losses maintained as a percent of the outstanding loan balance, the Company maintains additional reserves for the unfunded portion of the HELOC. Home equity loans: Similar to residential real estate term loans but secured by a deed of trust in a position that is junior to the primary lien holder. Consumer - Automobile and other: The majority of consumer loans are secured by automobiles, with the remainder primarily unsecured revolving debt (credit cards). These loans are susceptible to three primary risks; non-payment due to income loss, over-extension of credit and, when the borrower is unable to pay, shortfall in collateral value, if any. Typically non-payment is due to loss of job and will follow general economic trends in the marketplace driven primarily by rises in the unemployment rate. Loss of collateral value can be due to market demand shifts, damage to collateral itself or a combination of those factors. Credit card loans are unsecured and while collection efforts are pursued in the event of default, there is typically limited opportunity for recovery. Loss estimates are based on the general movement in credit score, economic outlook and its effects on employment and the Bank’s historical loss experience adjusted to reflect the economic outlook and the unemployment rate. Commercial : Commercial and industrial: Primarily based on the cash flow of the borrower, and secondarily on the underlying collateral provided by the borrower. A borrower's cash flow may be unpredictable, and collateral securing these loans may fluctuate in value. Most often, collateral includes accounts receivable, inventory, or equipment. Collateral securing these loans may depreciate over time, may be difficult to appraise, may be illiquid and may fluctuate in value based on the success of the business. Actual and forecast changes in gross domestic product are believed to be corollary to losses associated with these credits. Leases: The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset. Leases typically represent an elevated level of credit risk as compared to loans secured by real estate as the collateral for leases is often subject to a more rapid rate of depreciation or depletion. The ultimate severity of loss is impacted by the type of collateral securing the exposure, the size of the exposure, the borrower’s industry sector, any guarantors and the geographic market. Assumptions of expected loss are conditioned to the economic outlook and the other variables discussed above. Agriculture: Repayment is dependent upon successful operation of the agricultural business, which is greatly impacted by factors outside the control of the borrower. These factors include adverse weather conditions, including access to water, that may impact crop yields, loss of livestock due to disease or other factors, declines in market prices for agriculture products, changes in foreign exchange, and the impact of government regulations. In addition, many farms are dependent on a limited number of key individuals whose injury or death may significantly affect the successful operation of the business. Consequently, agricultural loans may involve a greater degree of risk than other types of loans. Construction : While secured by real estate, construction loans represent a greater level of risk than term real estate loans due to the nature of the additional risks associated with the not only the completion of construction within an estimated time period and budget, but also the need to either sell the building or reach a level of stabilized occupancy sufficient to generate the cash flows necessary to support debt service and operating costs. The Company seeks to mitigate the additional risks associated with construction lending by requiring borrowers to comply with lower loan to value ratios and additional covenants as well as strong tertiary support of guarantors. The loss forecasting model applies the historical rate of loss for similar loans over the expected life of the asset as adjusted for macroeconomic factors. Unfunded commitments : The estimated credit losses associated with these unfunded lending commitments is calculated using the same models and methodologies noted above and incorporate utilization assumptions at time of default. The reserve for unfunded commitments is maintained on the balance sheet in other liabilities. |
Accounting Standards Adopted in 2020 and Pending Adoption | On January 1, 2020, the Company adopted ASU 2016-03 Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which replaces the incurred loss methodology that is referred to as the current expected credit loss (CECL) methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized costs, including loan receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in certain leases. In addition, ASC 326 made changes to the accounting for available for sale debt securities. One such change is to require increases or decreases in credit losses be presented as an allowance rather than as a write-down on available for sale debt securities, based on management's intent to sell the security or likelihood the Company will be required to sell the security, before recovery of the amortized cost basis. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Results for the reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (PCD) that were previously classified as purchase credit impaired (PCI) and accounted for under ASC 310-30. In accordance with the Standard, management did not reassess whether PCI assets met the criteria of PCD assets as of the date of adoption. The remaining noncredit discount (based on the adjusted amortized costs basis) will be accreted into interest income at the effective interest rate as of adoption. The Company recognized an increase in the ACL for loans totaling $18,913,000, including a reclassification of $481,000 from discounts on acquired loans to the allowance for credit losses, as a cumulative effect adjustment from change in accounting policies, with a corresponding decrease in retained earnings, net of $5,449,000 in taxes of $12,983,000. Management has separately evaluated its held-to-maturity investment securities from obligations of state and political subdivisions and determined that no loss reserves were required. On January 1, 2020 the Company adopted ASU 2017-04, Intangibles—Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 350), which eliminates step two of the goodwill impairment test (the hypothetical purchase price allocation used to determine the implied fair value of goodwill) when step one (determining if the carrying value of a reporting unit exceeds its fair value) is failed. Instead, entities simply will compare the fair value of a reporting unit to its carrying amount and record goodwill impairment for the amount by which the reporting unit’s carrying amount exceeds its fair value. There was no goodwill impairment recorded during the quarter ended March 31, 2020. FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The guidance also promotes consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU No. 2019-12 will be effective for the Company beginning January 1, 2021 and is not expected to have a significant impact on the Company’s consolidated financial statements. FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform by providing optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected if certain criteria are met. The amendments in this Update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Amendments in this ASU are effective for the Company as of March 12, 2020 through December 31, 2022. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Values of Investments Securities | The amortized cost, estimated fair values and allowance for credit losses of investments in debt securities are summarized in the following tables: March 31, 2020 Amortized Gross Gross Allowance for Credit Losses Estimated (in thousands) Debt Securities Available for Sale Obligations of U.S. government agencies $ 447,736 $ 21,482 $ — $ — $ 469,218 Obligations of states and political subdivisions 110,564 3,561 — — 114,125 Corporate bonds 2,437 138 — — 2,575 Asset backed securities 467,436 8 (51,363) — 416,081 Total debt securities available for sale $ 1,028,173 $ 25,189 $ (51,363) $ — $ 1,001,999 March 31, 2020 Amortized Gross Gross Estimated Allowance for Credit Losses (in thousands) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 345,944 $ 17,352 $ (4) $ 363,292 $ — Obligations of states and political subdivisions 13,826 324 — 14,150 — Total debt securities held to maturity $ 359,770 $ 17,676 $ (4) $ 377,442 $ — December 31, 2019 Amortized Gross Gross Estimated (in thousands) Debt Securities Available for Sale Obligations of U.S. government agencies $ 466,139 $ 7,261 $ (420) $ 472,980 Obligations of states and political subdivisions 106,373 3,229 (1) 109,601 Corporate bonds 2,430 102 — 2,532 Asset backed securities 371,809 129 (6,913) 365,025 Total debt securities available for sale $ 946,751 $ 10,721 $ (7,334) $ 950,138 Debt Securities Held to Maturity Obligations of U.S. government agencies 361,785 6,072 (480) 367,377 Obligations of states and political subdivisions 13,821 327 — 14,148 Total debt securities held to maturity $ 375,606 $ 6,399 $ (480) $ 381,525 |
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | As of March 31, 2020, the contractual final maturity for available for sale and held to maturity investment securities is as follows: Debt Securities Available for Sale Held to Maturity (in thousands) Amortized Estimated Amortized Estimated Due in one year $ 604 $ 607 $ 1,279 $ 1,285 Due after one year through five years 18,264 18,958 — — Due after five years through ten years 114,545 103,673 22,271 23,136 Due after ten years 894,760 878,761 336,220 353,021 Totals $ 1,028,173 $ 1,001,999 $ 359,770 $ 377,442 |
Gross Unrealized Losses on Investment Securities | Gross unrealized losses on debt securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows: Less than 12 months 12 months or more Total March 31, 2020: Fair Unrealized Fair Unrealized Fair Unrealized (in thousands) Debt Securities Available for Sale Asset backed securities $ 166,612 $ (13,000) $ 248,222 $ (38,363) $ 414,834 $ (51,363) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 707 $ (4) $ — $ — $ 707 $ (4) Less than 12 months 12 months or more Total December 31, 2019: Fair Unrealized Fair Unrealized Fair Unrealized (in thousands) Debt Securities Available for Sale Obligations of U.S. government agencies $ 36,709 $ (309) $ 23,852 $ (111) $ 60,561 $ (420) Obligations of states and political subdivisions 778 (1) — — 778 (1) Asset backed securities 237,463 (4,535) 99,981 (2,378) 337,444 (6,913) Total debt securities available for sale $ 274,950 $ (4,845) $ 123,833 $ (2,489) $ 398,783 $ (7,334) Debt Securities Held to Maturity Obligations of U.S. government agencies 18,813 (142) 62,952 (338) 81,765 (480) Total debt securities held to maturity $ 18,813 $ (142) $ 62,952 $ (338) $ 81,765 $ (480) |
Amortized Cost of Debt Securities Held-to-Maturity | The following table summarizes the amortized cost of debt securities held-to-maturity at the dates indicated, aggregated by credit quality indicator: March 31, 2020 December 31, 2019 AAA/AA/A BBB/BB/B AAA/AA/A BBB/BB/B (In thousands) (In thousands) Debt Securities Held to Maturity Obligations of U.S. government agencies $ 345,944 $ — $ 361,785 $ — Obligations of states and political subdivisions 13,137 689 13,136 685 Total debt securities held to maturity $ 359,081 $ 689 $ 374,921 $ 685 |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Receivables [Abstract] | |
Summary of Loan Balances | A summary of loan balances follows: (in thousands) March 31, 2020 December 31, 2019 Mortgage loans on real estate: Residential 1-4 family $ 506,833 $ 509,508 Commercial 2,889,183 2,818,782 Total mortgage loans on real estate 3,396,016 3,328,290 Consumer: Home equity lines of credit 341,461 334,300 Home equity loans 27,110 28,586 Other 82,427 82,656 Total consumer loans 450,998 445,542 Commercial 290,334 283,707 Construction: Residential 42,333 46,146 Commercial 199,381 203,681 Total construction loans 241,714 249,827 Total loans, net of deferred loan fees and discounts $ 4,379,062 $ 4,307,366 Total principal balance of loans owed, net of charge-offs $ 4,420,889 $ 4,351,725 Unamortized net deferred loan fees (8,794) (8,927) Discounts to principal balance of loans owed, net of charge-offs (33,033) (35,432) Total loans, net of unamortized deferred loan fees and discounts $ 4,379,062 $ 4,307,366 Allowance for loan losses $ (57,911) $ (30,616) |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Allowance For Loan And Lease Losses [Abstract] | |
Summary of Activity in Allowance for Loan Losses, and Ending Balance of Loans, Net of Unearned Fees for Periods Indicated | The following tables summarize the activity in the allowance for credit losses on loans, and ending balance of loans, net of unearned fees for the periods indicated: Allowance for Loan Losses – Three Months Ended March 31, 2020 (in thousands) Beginning Impact of CECL Adoption Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,306 $ 2,675 $ — $ 410 $ 259 $ 5,650 Commercial 11,995 11,848 — 194 5,216 29,253 Total mortgage loans on real estate 14,301 14,523 — 604 5,475 34,903 Consumer: Home equity lines of credit 5,572 4,549 — 33 369 10,523 Home equity loans 611 89 — 15 (42) 673 Other 1,595 971 (130) 94 216 2,746 Total consumer loans 7,778 5,609 (130) 142 543 13,942 Commercial 5,149 (2,152) (380) 146 1,708 4,471 Construction: Residential 630 189 — — 5 824 Commercial 2,758 744 — — 269 3,771 Total construction loans 3,388 933 — — 274 4,595 Total $ 30,616 $ 18,913 $ (510) $ 892 $ 8,000 $ 57,911 In determining the allowance for credit losses, accruing loans with similar risk characteristics are generally evaluated collectively. To estimate expected losses the Company generally utilizes historical loss trends and the remaining contractual lives of the loan portfolios to determine estimated credit losses through a reasonable and supportable forecast period. Individual loan credit quality indicators including loan grade and borrower repayment performance have been statistically correlated with historical credit losses and various econometrics, including California unemployment, gross domestic product, and corporate bond yields. Model forecasts may be adjusted for inherent limitations or biases that have been identified through independent validation and back-testing of model performance to actual realized results. At both January 1, 2020, the adoption and implementation date of ASC Topic 326, and March 31, 2020, the Company utilized a reasonable and supportable forecast period of approximately eight quarters and obtained the forecast data from publicly available sources. The Company also considered the impact of portfolio concentrations, changes in underwriting practices, imprecision in its economic forecasts, and other risk factors that might influence its loss estimation process. During the quarter ended March 31, 2020 the levels of actual and forecasted California unemployment and gross domestic product continued to deteriorate and as a result, were the primary cause for the increase in allowance for credit losses. Management believes that the allowance for credit losses at March 31, 2020 appropriately reflected expected credit losses inherent in the loan portfolio at that date. Allowance for Loan Losses – Year Ended December 31, 2019 (in thousands) Beginning Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,676 $ (2) $ 54 $ (422) $ 2,306 Commercial 12,944 (746) 1,528 (1,731) 11,995 Total mortgage loans on real estate 15,620 (748) 1,582 (2,153) 14,301 Consumer: Home equity lines of credit 6,042 — 504 (974) 5,572 Home equity loans 1,540 (3) 431 (1,357) 611 Other 793 (765) 321 1,246 1,595 Total consumer loans 8,375 (768) 1,256 (1,085) 7,778 Commercial 6,090 (2,123) 525 657 5,149 Construction: Residential 464 — — 166 630 Commercial 2,033 — — 725 2,758 Total construction loans 2,497 — — 891 3,388 Total $ 32,582 $ (3,639) $ 3,363 $ (1,690) $ 30,616 Allowance for Loan Losses – Three Months Ended March 31, 2019 (in thousands) Beginning Charge-offs Recoveries Provision Ending Balance Mortgage loans on real estate: Residential 1-4 family $ 2,676 $ — $ 2 $ (178) $ 2,500 Commercial 12,944 — 1,381 (1,995) 12,330 Total mortgage loans on real estate 15,620 — 1,383 (2,173) 14,830 Consumer: Home equity lines of credit 6,042 — 95 (122) 6,015 Home equity loans 1,540 — 87 (341) 1,286 Other 793 (207) 75 379 1,040 Total consumer loans 8,375 (207) 257 (84) 8,341 Commercial 6,090 (519) 168 339 6,078 Construction: Residential 464 — — 84 548 Commercial 2,033 — — 234 2,267 Total construction loans 2,497 — — 318 2,815 Total $ 32,582 $ (726) $ 1,808 $ (1,600) $ 32,064 |
Schedule Credit Quality Indicators | Based on the most recent analysis performed, the risk category of loans by class of loans is as follows for the period indicated: (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage loans on real estate: Residential 1-4 family risk ratings Pass $25,698 $102,369 $59,278 $69,504 $60,063 $179,461 — $117 $496,490 Special Mention — — — 868 18 2,953 — 105 3,944 Substandard — — 574 996 51 4,778 — — 6,399 Doubtful/Loss — — — — — — — — — Total residential 1-4 family - mortgage loans $25,698 $102,369 $59,852 $71,368 $60,132 $187,192 $— $222 $506,833 Mortgage loans on real estate: Commercial risk ratings Pass $82,428 $457,462 $364,082 $443,054 $407,011 $967,584 $102,830 $1,501 $2,825,952 Special Mention 70 2,288 — 7,618 11,562 10,722 12,588 — 44,848 Substandard 200 1,394 1,445 1,580 3,191 9,801 772 — 18,383 Doubtful/Loss — — — — — — — — — Total commercial - mortgage loans $82,698 $461,144 $365,527 $452,252 $421,764 $988,107 $116,190 $1,501 $2,889,183 Consumer loans: Home equity line of credit risk ratings Pass $2,859 $8,591 $2,967 $714 $1,561 $10,815 $304,911 $627 $333,045 Special Mention 80 — 36 46 70 644 3,524 — 4,400 Substandard — — 57 529 80 1,078 2,266 6 4,016 Doubtful/Loss — — — — — — — — — Total home equity lines of credit - consumer loans $2,939 $8,591 $3,060 $1,289 $1,711 $12,537 $310,701 $633 $341,461 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Consumer loans: Home equity loans risk ratings Pass $2 $580 $290 $378 $673 $21,191 $500 $16 $23,630 Special Mention — — 19 — — 906 — — 925 Substandard 153 — — — 145 2,257 — — 2,555 Doubtful/Loss — — — — — — — — — Total home equity loans - consumer loans $155 $580 $309 $378 $818 $24,354 $500 $16 $27,110 Consumer loans: Other risk ratings Pass $7,679 $40,454 $20,465 $6,221 $1,883 $1,787 $1,747 $1,407 $81,643 Special Mention — 53 170 141 44 158 83 2 651 Substandard — 59 — 12 11 35 16 — 133 Doubtful/Loss — — — — — — — — — Total other - consumer loans $7,679 $40,566 $20,635 $6,374 $1,938 $1,980 $1,846 $1,409 $82,427 Commercial loans: Commercial risk ratings Pass $15,616 $66,145 $32,209 $25,226 $10,041 $17,434 $112,189 $5,164 $284,024 Special Mention — — 75 539 149 110 604 700 2,177 Substandard — 153 382 1,236 1,262 201 725 174 4,133 Doubtful/Loss — — — — — — — — — Total commercial loans $15,616 $66,298 $32,666 $27,001 $11,452 $17,745 $113,518 $6,038 $290,334 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of March 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Construction loans: Residential risk ratings Pass $1,725 $15,703 $17,067 $0 $3,459 $0 $0 $0 $37,954 Special Mention — — — — 4,379 — — — 4,379 Substandard — — — — — — — — — Doubtful/Loss — — — — — — — — — Total residential - construction loans $1,725 $15,703 $17,067 $0 $7,838 $0 $0 $0 $42,333 Construction loans: Commercial risk ratings Pass $14,081 $35,515 $82,740 $43,455 $15,793 $5,709 $0 $0 $197,293 Special Mention — — — — — 1,845 — — 1,845 Substandard — — — — — 243 — — 243 Doubtful/Loss — — — — — — — — — Total commercial - construction loans $14,081 $35,515 $82,740 $43,455 $15,793 $7,797 $0 $0 $199,381 Total loans: Risk ratings Pass $150,088 $726,819 $579,098 $588,552 $500,484 $1,203,981 $522,177 $8,832 $4,280,031 Special Mention 150 2,341 300 9,212 16,222 17,338 16,799 807 63,169 Substandard 353 1,606 2,458 4,353 4,740 18,393 3,779 180 35,862 Doubtful/Loss — — — — — — — — — Total loans $150,591 $730,766 $581,856 $602,117 $521,446 $1,239,712 $542,755 $9,819 $4,379,062 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage loans on real estate: Residential 1-4 family risk ratings Pass $102,613 $63,542 $73,195 $65,050 $194,214 — — $498,614 Special Mention — — 1,408 19 3,287 — — 4,714 Substandard — 813 711 52 4,604 — — 6,180 Doubtful/Loss — — — — — — — $0 Total residential 1-4 family - mortgage loans $102,613 $64,355 $75,314 $65,121 $202,105 $— $— $509,508 Mortgage loans on real estate: Commercial risk ratings Pass $446,597 $373,065 $421,901 $415,568 $1,010,057 $107,965 $748 $2,775,901 Special Mention — — 4,965 9,373 8,467 2,253 — 25,058 Substandard 830 1,454 1,591 3,216 9,937 795 — 17,823 Doubtful/Loss — — — — — — — — Total commercial - mortgage loans $447,427 $374,519 $428,457 $428,157 $1,028,461 $111,013 $748 $2,818,782 Consumer loans: Home equity line of credit risk ratings Pass $10,195 $3,436 $1,015 $1,729 $11,821 $297,458 $663 $326,317 Special Mention — 11 47 31 665 3,398 37 4,189 Substandard — 59 253 77 1,223 2,146 36 3,794 Doubtful/Loss — — — — — — — — Total home equity lines of credit - consumer loans $10,195 $3,506 $1,315 $1,837 $13,709 $303,002 $736 $334,300 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Consumer loans: Home equity loans risk ratings Pass $607 $300 $382 $712 $22,655 $399 $37 $25,092 Special Mention — 20 — — 1,172 — — 1,192 Substandard — — — 156 2,146 — — 2,302 Doubtful/Loss — — — — — — — — Total home equity loans - consumer loans $607 $320 $382 $868 $25,973 $399 $37 $28,586 Consumer loans: Other risk ratings Pass $45,675 $23,014 $7,176 $2,245 $2,099 $1,602 $3 $81,814 Special Mention 56 182 176 52 172 81 — 719 Substandard 60 — 13 1 45 1 3 123 Doubtful/Loss — — — — — — — — Total other - consumer loans $45,791 $23,196 $7,365 $2,298 $2,316 $1,684 $6 $82,656 Commercial loans: Commercial risk ratings Pass $77,614 $37,411 $27,195 $11,906 $17,806 $100,098 $3,623 $275,653 Special Mention — 339 1,236 167 164 1,921 — 3,827 Substandard — 48 1,481 1,646 393 611 48 4,227 Doubtful/Loss — — — — — — — — Total commercial loans $77,614 $37,798 $29,912 $13,719 $18,363 $102,630 $3,671 $283,707 (in thousands) Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2019 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Construction loans: Residential risk ratings Pass $18,516 $12,990 $0 $3,319 $0 $6,230 $889 $41,944 Special Mention — — — 4,202 — — — 4,202 Substandard — — — — — — — — Doubtful/Loss — — — — — — — — Total residential - construction loans $18,516 $12,990 $0 $7,521 $0 $6,230 $889 $46,146 Construction loans: Commercial risk ratings Pass $31,031 $72,339 $76,043 $15,654 $7,322 $975 $0 $203,364 Special Mention — — — — 317 — — 317 Substandard — — — — — — — — Doubtful/Loss — — — — — — — — Total commercial - construction loans $31,031 $72,339 $76,043 $15,654 $7,639 $975 $0 $203,681 Total loans: Risk ratings Pass $732,848 $586,097 $606,907 $516,183 $1,265,974 $514,727 $5,963 $4,228,699 Special Mention 56 552 7,832 13,844 14,244 7,653 37 44,218 Substandard 890 2,374 4,049 5,148 18,348 3,553 87 34,449 Doubtful/Loss — — — — — — — — Total loans $733,794 $589,023 $618,788 $535,175 $1,298,566 $525,933 $6,087 $4,307,366 |
Analysis of Past Due Loans | The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated: Analysis of Past Due Loans - As of March 31, 2020 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Mortgage loans on real estate: Residential 1-4 family $ 699 $ — $ 1,763 $ 2,462 $ 504,371 $ 506,833 Commercial 18,445 1,283 2,675 22,403 2,866,780 2,889,183 Total mortgage loans on real estate 19,144 1,283 4,438 24,865 3,371,151 3,396,016 Consumer: Home equity lines of credit 572 85 1,118 1,775 339,686 341,461 Home equity loans 200 64 193 457 26,653 27,110 Other 100 12 114 226 82,201 82,427 Total consumer loans 872 161 1,425 2,458 448,540 450,998 Commercial 1,014 932 70 2,016 288,318 290,334 Construction: Residential — — — — 42,333 42,333 Commercial — — — — 199,381 199,381 Total construction loans — — — — 241,714 241,714 Total originated loans $ 21,030 $ 2,376 $ 5,933 $ 29,339 $ 4,349,723 $ 4,379,062 The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated: Analysis of Past Due Loans - As of December 31, 2019 (in thousands) 30-59 days 60-89 days > 90 days Total Past Current Total Mortgage loans on real estate: Residential 1-4 family $ 1,149 $ 371 $ 1,957 $ 3,477 $ 506,031 $ 509,508 Commercial 581 136 2,431 3,148 2,815,634 2,818,782 Total mortgage loans on real estate 1,730 507 4,388 6,625 3,321,665 3,328,290 Consumer: Home equity lines of credit 1,083 363 956 2,402 331,898 334,300 Home equity loans 175 216 132 523 28,063 28,586 Other 172 1 23 196 82,460 82,656 Total consumer loans 1,430 580 1,111 3,121 442,421 445,542 Commercial 652 298 24 974 282,733 283,707 Construction: Residential — — — — 46,146 46,146 Commercial — — — — 203,681 203,681 Total construction loans — — — — 249,827 249,827 Total loans $ 3,812 $ 1,385 $ 5,523 $ 10,720 $ 4,296,646 $ 4,307,366 |
Schedule of Non Accrual Loans | The following table shows the ending balance of non accrual loans by loan category as of the date indicated: Non Accrual Loans As of March 31, 2020 As of December 31, 2019 (in thousands) Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Non accrual with no allowance for credit losses Total non accrual Past due 90 days or more and still accruing Mortgage loans on real estate: Residential 1-4 family $ 5,169 $ 5,784 $ — $ 5,023 $ 5,192 $ — Commercial 5,451 5,514 — 5,316 5,316 — Total mortgage loans on real estate 10,620 11,298 — 10,339 10,508 — Consumer: Home equity lines of credit 2,760 3,210 — 2,419 2,590 — Home equity loans 1,523 1,654 — 1,574 1,626 — Other — 140 — 4 51 11 Total consumer loans 4,283 5,004 3,997 4,267 11 Commercial 298 1,653 — 489 2,089 — Construction: Residential — — — — — — Commercial — — — — — — Total construction — — — — — — Total non accrual loans $ 15,201 $ 17,955 $ — $ 14,825 $ 16,864 $ 11 Interest income on non accrual loans that would have been recognized during the three months ended March 31, 2020 and 2019, if all such loans had been current in accordance with their original terms, totaled $431,000 and $400,000, respectively. Interest income actually recognized on these originated loans during the three months ended March 31, 2020 and 2019 was $47,000 and $93,000, respectively. |
Amortized Cost Basis of Collateral Dependent Loans, By Class of Loan | The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods: As of March 31, 2020 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR -1st Deed SFR -2nd Deed Automobile/Truck A/R and Inventory Equipment Unsecured Total Mortgage loans on real estate: Residential 1-4 family $ — $ — $ — $ — $ — $ — $ 5,815 $ — $ — $ — $ — $ — $ 5,815 Commercial 2,483 161 1,866 506 2,060 1,203 — — — — — — 8,279 Total mortgage loans on real estate 2,483 161 1,866 506 2,060 1,203 5,815 — — — — — 14,094 Consumer: Home equity lines of credit — — — — — — — 1,936 — — — — 1,936 Home equity loans — — — — — — — 2,106 — — — — 2,106 Other — — — — — 156 47 — 127 — — 4 334 Total consumer loans — — — — — 156 47 4,042 127 — — 4 4,376 Commercial — — — — — — — — — 1,824 1,012 116 2,952 Total collateral dependent loans $ 2,483 $ 161 $ 1,866 $ 506 $ 2,060 $ 1,359 $ 5,862 $ 4,042 $ 127 $ 1,824 $ 1,012 $ 120 $ 21,422 As of December 31, 2019 (in thousands) Retail Office Warehouse Other Multifamily Farmland SFR -1st Deed SFR -2nd Deed Automobile/Truck A/R and Inventory Equipment Unsecured Total Mortgage loans on real estate: Residential 1-4 family $ — $ — $ — $ — $ — $ — $ 5,293 $ — $ — $ — $ — $ — $ 5,293 Commercial 2,506 163 1,640 509 2,060 1,242 — — — — — — 8,120 Total mortgage loans on real estate 2,506 163 1,640 509 2,060 1,242 5,293 — — — — — 13,413 Consumer: Home equity lines of credit — — — — — — — 1,808 — — — — 1,808 Home equity loans — — — — — — — 2,040 — — — — 2,040 Other — — — — — — 48 — 27 — — 4 79 Total consumer loans — — — — — — 48 3,848 27 — — 4 3,927 Commercial — — — — — — — — — 1,952 1,026 107 3,085 Total collateral dependent loans $ 2,506 $ 163 $ 1,640 $ 509 $ 2,060 $ 1,242 $ 5,341 $ 3,848 $ 27 $ 1,952 $ 1,026 $ 111 $ 20,425 |
Troubled Debt Restructurings | The following tables show certain information regarding TDRs that occurred during the periods indicated: TDR Information for the three months ended March 31, 2020 (dollars in thousands) Number Pre-mod Post-mod Financial Number that Recorded Financial impact Mortgage loans on real estate: Residential 1-4 family — $ — $ — $ — 1 $ 302 $ — Commercial 3 487 549 — — — — Total mortgage loans on real estate 3 487 549 — 1 302 — Consumer: Home equity lines of credit — — — — — — — Home equity loans 2 172 169 — — — — Other — — — — — — — Total consumer loans 2 172 169 — — — — Commercial 1 21 20 21 — — — Construction: Residential — — — — — — — Commercial — — — — — — — Total construction loans — — — — — — — Total 6 $ 680 $ 738 $ 21 1 $ 302 $ — TDR Information for the three months ended March 31, 2019 (dollars in thousands) Number Pre-mod Post-mod Financial Number that Recorded Financial impact Mortgage loans on real estate: Residential 1-4 family — $ 163 $ 162 $ — $ — $ — $ — Commercial — — — — — — — Total mortgage loans on real estate 1 163 162 — — — — Consumer: Home equity lines of credit — — — — — — — Home equity loans 1 121 120 1 — — — Other — — — — — — — Total consumer loans 1 121 120 1 — — — Commercial 2 15 15 — 1 7 — Construction: Residential — — — — — — Commercial — — — — — — Total construction loans — — — — — — — Total 4 $ 299 $ 297 $ 1 1 $ 7 $ — |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Components of Lease Expense | The following table presents the components of lease expense for the three months ended: (in thousands) March 31, 2020 March 31, 2019 Operating lease cost $ 1,294 $ 1,311 Short-term lease cost 63 71 Variable lease cost 6 (5) Sublease income (34) (34) Total lease cost $ 1,329 $ 1,343 |
Supplemental Cash Flow Information Related to Leases | The following table presents supplemental cash flow information related to leases for the three months ended: (in thousands) March 31, 2020 March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 1,237 $ 1,218 ROUA obtained in exchange for operating lease liabilities $ 3,393 $ 32,006 |
Weighted Average Operating Lease Term And Discount Rate | The following table presents the weighted average operating lease term and discount rate as of the periods ended: As of March 31, 2020 As of March 31, 2019 Weighted-average remaining lease term 10.3 9.5 Weighted-average discount rate 3.17 % 3.17 % |
Future Expected Operating Lease Payments | At March 31, 2020, future expected operating lease payments are as follows: (in thousands) Periods ending December 31, 2020 $ 3,412 2021 4,428 2022 4,089 2023 3,410 2024 3,130 Thereafter 17,337 35,806 Discount for present value of expected cash flows (5,799) Lease liability at March 31, 2020 $ 30,007 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Deposits [Abstract] | |
Summary of Balances of Deposits | A summary of the balances of deposits follows (in thousands): March 31, December 31, Noninterest-bearing demand $ 1,883,143 $ 1,832,665 Interest-bearing demand 1,243,192 1,242,274 Savings 1,857,684 1,851,549 Time certificates, $250,000 or more 111,262 129,061 Other time certificates 307,417 311,445 Total deposits $ 5,402,698 $ 5,366,994 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Bank's Commitments and Contingent Liabilities | The following table presents a summary of the Bank’s commitments and contingent liabilities: (in thousands) March 31, December 31, Financial instruments whose amounts represent risk: Commitments to extend credit: Commercial loans $ 360,793 $ 363,793 Consumer loans 541,848 533,576 Real estate mortgage loans 189,921 188,959 Real estate construction loans 204,170 222,998 Standby letters of credit 12,084 12,014 Deposit account overdraft privilege 109,752 110,402 |
Stock Options and Other Equit_2
Stock Options and Other Equity-Based Incentive Instruments (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Stock Option Activity | Stock option activity during the three months ended March 31, 2020 is summarized in the following table: Number Option Price Weighted Outstanding at December 31, 2019 160,500 $14.54 to $23.21 $ 17.60 Options granted — — — Options exercised (8,000) $17.54 to $19.46 18.50 Options forfeited — — — Outstanding at March 31, 2020 152,500 $14.54 to $23.21 $ 17.55 |
Summary of Options Outstanding | The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of March 31, 2020: Currently Currently Not Total Number of options 152,500 — 152,500 Weighted average exercise price $ 17.55 $ — $ 17.55 Intrinsic value (in thousands) $ 1,871 $ — $ 1,871 Weighted average remaining contractual term (yrs.) 2.6 0 2.6 |
Restricted Stock Unit (RSU) Activity | Activity related to restricted stock unit awards during the three months ended March 31, 2020 is summarized in the following table: Service Market Plus Outstanding at December 31, 2019 68,597 51,312 RSUs granted — — RSUs added through dividend and performance credits 521 — RSUs released (362) — RSUs forfeited/expired (80) (78) Outstanding at March 31, 2020 68,676 51,234 |
Non-interest Income and Expen_2
Non-interest Income and Expense (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Other Income and Expenses [Abstract] | |
Components of Non-Interest Income | The following table summarizes the Company’s non-interest income for the periods indicated: Three months ended (dollars in thousands) 2020 2019 ATM and interchange fees $ 5,111 $ 4,581 Service charges on deposit accounts 4,046 3,880 Other service fees 758 771 Mortgage banking service fees 469 483 Change in value of mortgage servicing rights (1,258) (645) Total service charges and fees 9,126 9,070 Increase in cash value of life insurance 720 775 Asset management and commission income 916 642 Gain on sale of loans 891 412 Lease brokerage income 193 220 Sale of customer checks 124 140 Gain on sale of investment securities — — Gain on marketable equity securities 47 36 Other (197) 508 Total other non-interest income 2,694 2,733 Total non-interest income $ 11,820 $ 11,803 |
Components of Non Interest Expense | The components of non-interest expense were as follows (in thousands): Three months ended 2020 2019 Base salaries, net of deferred loan origination costs $ 17,623 $ 16,757 Incentive compensation 3,101 2,567 Benefits and other compensation costs 6,548 5,804 Total salaries and benefits expense 27,272 25,128 Occupancy 3,875 3,774 Data processing and software 3,367 3,349 Equipment 1,512 1,867 Intangible amortization 1,431 1,431 Advertising 665 1,331 ATM and POS network charges 1,373 1,323 Professional fees 703 839 Telecommunications 725 797 Regulatory assessments and insurance 95 511 Postage 290 310 Operational losses 221 225 Courier service 331 270 Gain on sale of foreclosed assets (41) (99) Loss on disposal of fixed assets — 24 Other miscellaneous expense 3,000 4,372 Total other non-interest expense 17,547 20,324 Total non-interest expense $ 44,819 $ 45,452 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | Potential common shares that may be issued by the Company relate to outstanding stock options and restricted stock units (RSUs), and are determined using the treasury stock method. Earnings per share have been computed based on the following: Three months ended (in thousands) 2020 2019 Net income $ 16,121 $ 22,726 Average number of common shares outstanding 30,395 30,424 Effect of dilutive stock options and restricted stock 128 234 Average number of common shares outstanding used to calculate diluted earnings 30,523 30,658 Options excluded from diluted earnings per share because the effect of these — — |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Components of Other Comprehensive Income (Loss) and Related Tax Effects | The components of other comprehensive income (loss) and related tax effects are as follows: Three months ended March 31, (in thousands) 2020 2019 Unrealized holding gains (losses) on available for sale securities before reclassifications $ (29,561) $ 12,710 Tax effect 8,739 (3,758) Unrealized holding gains (losses) on available for sale securities, net of tax (20,822) 8,952 Change in unfunded status of the supplemental retirement plans before reclassifications 448 (89) Amounts reclassified out of accumulated other comprehensive income (loss): Amortization of prior service cost (14) (13) Amortization of actuarial losses 478 102 Total amounts reclassified out of accumulated other comprehensive income (loss) 464 89 Change in unfunded status of the supplemental retirement plans after reclassifications 912 — Tax effect — — Change in unfunded status of the supplemental retirement plans, net of tax 912 — Total other comprehensive income (loss) $ (19,910) $ 8,952 |
Components of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive income (loss), included in shareholders’ equity, are as follows: (in thousands) March 31, December 31, Net unrealized gain (loss) on available for sale securities $ (26,174) $ 3,387 Tax effect 7,738 (1,001) Unrealized holding gain (loss) on available for sale securities, net of tax (18,436) 2,386 Unfunded status of the supplemental retirement plans (11,193) (11,193) Tax effect 3,309 3,309 Unfunded status of the supplemental retirement plans, net of tax (7,884) (7,884) Joint beneficiary agreement liability 1,188 276 Tax effect — — Joint beneficiary agreement liability, net of tax 1,188 276 Accumulated other comprehensive income (loss) $ (25,132) $ (5,222) |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis | The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands): Fair value at March 31, 2020 Total Level 1 Level 2 Level 3 Marketable equity securities $ 3,007 $ 3,007 $ — $ — Debt securities available for sale: Obligations of U.S. government corporations and agencies 469,218 — 469,218 — Obligations of states and political subdivisions 114,125 — 114,125 — Corporate bonds 2,575 — 2,575 — Asset backed securities 416,081 — 416,081 — Loans held for sale 2,695 — 2,695 — Mortgage servicing rights 5,168 — — 5,168 Total assets measured at fair value $ 1,012,869 $ 3,007 $ 1,004,694 $ 5,168 Fair value at December 31, 2019 Total Level 1 Level 2 Level 3 Marketable equity securities $ 2,960 $ 2,960 $ — $ — Debt securities available for sale: Obligations of U.S. government corporations and agencies 472,980 — 472,980 — Obligations of states and political subdivisions 109,601 — 109,601 — Corporate bonds 2,532 — 2,532 — Asset backed securities 365,025 — 365,025 — Loans held for sale 5,265 — 5,265 — Mortgage servicing rights 6,200 — — 6,200 Total assets measured at fair value $ 964,563 $ 2,960 $ 955,403 $ 6,200 |
Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis | The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the time periods indicated. Had there been any transfer into or out of Level 3 during the time periods indicated, the amount included in the “Transfers into (out of) Level 3” column would represent the beginning balance of an item in the period (interim quarter) during which it was transferred (in thousands): Three months ended March 31, Beginning Transfers Change Issuances Ending 2020: Mortgage servicing rights $ 6,200 — $ (1,258) $ 226 $ 5,168 2019: Mortgage servicing rights $ 7,098 — $ (645) $ 119 $ 6,572 Three months ended March 31, |
Quantitative Information about Recurring Level 3 Fair Value Measurements | The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2020 and December 31, 2019: As of March 31, 2020: Fair Value Valuation Unobservable Range, Mortgage Servicing Rights $ 5,168 Discounted cash flow Constant prepayment rate 7% - 42%; 11% Discount rate 10% - 14%; 12% As of December 31, 2019: Mortgage Servicing Rights $ 6,200 Discounted cash flow Constant prepayment rate 6% - 42.0%; 11.0% Discount rate 10% - 14%; 12% |
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | The tables below present the recorded investment in assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated (in thousands): March 31, 2020 Total Level 1 Level 2 Level 3 Total Losses Fair value: Individually evaluated loans $ 105 — — $ 105 $ (107) December 31, 2019 Total Level 1 Level 2 Level 3 Total Losses Fair value: Individually evaluated loans $ 1,055 — — $ 1,055 $ (652) Foreclosed assets 417 — — 417 (27) Total assets measured at fair value $ 1,472 — — $ 1,472 $ (679) March 31, 2019 Total Level 1 Level 2 Level 3 Total Losses Fair value: Individually evaluated loans $ 212 — — $ 212 $ (197) Foreclosed assets 214 — — 214 — Total assets measured at fair value $ 426 — — $ 426 $ (197) |
Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at March 31, 2020: March 31, 2020 Fair Value Valuation Unobservable Inputs Range, Individually evaluated loans $ 105 Sales comparison Adjustment for differences between Not meaningful The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2019: December 31, 2019 Fair Value Valuation Unobservable Inputs Range, Individually evaluated loans $ 1,055 Sales comparison Adjustment for differences between Not meaningfulN/A Foreclosed assets (Residential real estate) $ 417 Sales comparison Adjustment for differences between Not meaningfulN/A |
Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets | March 31, 2020 December 31, 2019 (in thousands) Carrying Fair Carrying Fair Financial assets: Level 1 inputs: Cash and due from banks $ 95,364 $ 95,364 $ 92,816 $ 92,816 Cash at Federal Reserve and other banks 90,102 90,102 183,691 183,691 Level 2 inputs: Securities held to maturity 359,770 377,442 375,606 381,525 Restricted equity securities 17,250 N/A 17,250 N/A Level 3 inputs: Loans, net 4,321,151 4,307,323 4,276,750 4,263,064 Financial liabilities: Level 2 inputs: Deposits 5,402,698 5,401,617 5,366,994 5,365,921 Other borrowings 19,309 19,309 18,454 18,454 Level 3 inputs: Junior subordinated debt 57,323 56,254 57,232 56,297 (in thousands) Contract Fair Contract Fair Off-balance sheet: Level 3 inputs: Commitments $ 1,296,732 $ 12,967 $ 1,309,326 $ 13,093 Standby letters of credit 12,084 121 12,014 120 Overdraft privilege commitments 109,752 1,098 110,402 1,104 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Banking and Thrift [Abstract] | |
Actual and Required Capital Ratios of Bank | Actual Required for Capital Adequacy Purposes Required to be As of March 31, 2020: Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets): Consolidated $ 762,763 15.12 % $ 529,576 10.50 % N/A N/A Tri Counties Bank $ 755,893 14.99 % $ 529,388 10.50 % $ 504,179 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 702,007 13.92 % $ 428,705 8.50 % N/A N/A Tri Counties Bank $ 695,137 13.79 % $ 428,552 8.50 % $ 403,343 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 646,407 12.82 % $ 353,051 7.00 % N/A N/A Tri Counties Bank $ 695,137 13.79 % $ 352,925 7.00 % $ 327,716 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 702,007 11.22 % $ 250,216 4.00 % N/A N/A Tri Counties Bank $ 695,137 11.11 % $ 250,209 4.00 % $ 312,762 5.00 % Actual Required for Capital Adequacy Purposes Required to be As of December 31, 2019: Amount As of : Ratio Amount Ratio Amount Ratio (dollars in thousands) Total Capital (to Risk Weighted Assets): Consolidated $ 753,200 15.07 % $ 524,944 10.50 % N/A N/A Tri Counties Bank $ 748,660 14.98 % $ 524,759 10.50 % $ 499,770 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 719,809 14.40 % $ 424,955 8.50 % N/A N/A Tri Counties Bank $ 715,269 14.31 % $ 424,805 8.50 % $ 399,816 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 664,296 13.29 % $ 349,963 7.00 % N/A N/A Tri Counties Bank $ 715,269 14.31 % $ 349,839 7.00 % $ 324,851 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 719,809 11.55 % $ 249,343 4.00 % N/A N/A Tri Counties Bank $ 715,269 11.47 % $ 249,337 4.00 % $ 311,672 5.00 % |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) | Jan. 01, 2020USD ($) | Mar. 31, 2020USD ($)business_trustSegmentcounty | Dec. 31, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Significant Accounting Policies [Line Items] | |||||
Number of subsidiary business trusts (in trusts) | business_trust | 5 | ||||
Number of loan production offices (in offices) | business_trust | 2 | ||||
Company's investments in the trusts | $ 1,792,000 | ||||
Number of business segments | Segment | 1 | ||||
Loans contractual past due | 90 days | ||||
Allowance for credit loss | $ 57,911,000 | $ 30,616,000 | $ 32,064,000 | $ 32,582,000 | |
Goodwill impairment loss | $ 0 | ||||
North Valley Bancorp | |||||
Significant Accounting Policies [Line Items] | |||||
Number of loan production offices (in offices) | business_trust | 3 | ||||
Held-to-maturity securities | |||||
Significant Accounting Policies [Line Items] | |||||
Interest receivable | $ 920,000 | ||||
Financial asset acquired with credit deterioration | |||||
Significant Accounting Policies [Line Items] | |||||
Allowance for credit loss | $ 481,000 | ||||
ASU 2016-13 | |||||
Significant Accounting Policies [Line Items] | |||||
Allowance for credit loss | 18,913,000 | ||||
Cumulative change, effect on retained earnings | 5,449,000 | ||||
Cumulative change from adoption of ASU 2016-13 | $ 12,983,000 | ||||
Minimum | |||||
Significant Accounting Policies [Line Items] | |||||
Loan term | 5 years | ||||
Amortization period | 15 years | ||||
Maximum | |||||
Significant Accounting Policies [Line Items] | |||||
Loan term | 10 years | ||||
Amortization period | 30 years | ||||
California | |||||
Significant Accounting Policies [Line Items] | |||||
Number of counties (in counties) | county | 29 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Values of Investments Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 1,028,173 | $ 946,751 |
Gross Unrealized Gains | 25,189 | 10,721 |
Gross Unrealized Losses | (51,363) | (7,334) |
Allowance for Credit Losses | 0 | |
Estimated Fair Value | 1,001,999 | 950,138 |
Amortized Cost | 359,770 | 375,606 |
Gross Unrealized Gains | 17,676 | 6,399 |
Gross Unrealized Losses | (4) | (480) |
Estimated Fair Value | 377,442 | 381,525 |
Allowance for Credit Losses | 0 | |
Obligations of U.S. government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 447,736 | 466,139 |
Gross Unrealized Gains | 21,482 | 7,261 |
Gross Unrealized Losses | 0 | (420) |
Allowance for Credit Losses | 0 | |
Estimated Fair Value | 469,218 | 472,980 |
Amortized Cost | 345,944 | 361,785 |
Gross Unrealized Gains | 17,352 | 6,072 |
Gross Unrealized Losses | (4) | (480) |
Estimated Fair Value | 363,292 | 367,377 |
Allowance for Credit Losses | 0 | |
Obligations of states and political subdivisions | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 110,564 | 106,373 |
Gross Unrealized Gains | 3,561 | 3,229 |
Gross Unrealized Losses | 0 | (1) |
Allowance for Credit Losses | 0 | |
Estimated Fair Value | 114,125 | 109,601 |
Amortized Cost | 13,826 | 13,821 |
Gross Unrealized Gains | 324 | 327 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 14,150 | 14,148 |
Allowance for Credit Losses | 0 | |
Corporate bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 2,437 | 2,430 |
Gross Unrealized Gains | 138 | 102 |
Gross Unrealized Losses | 0 | 0 |
Allowance for Credit Losses | 0 | |
Estimated Fair Value | 2,575 | 2,532 |
Asset backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 467,436 | 371,809 |
Gross Unrealized Gains | 8 | 129 |
Gross Unrealized Losses | (51,363) | (6,913) |
Allowance for Credit Losses | 0 | |
Estimated Fair Value | $ 416,081 | $ 365,025 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020USD ($)investment_security | Dec. 31, 2019USD ($) | |
Investment Securities [Line Items] | ||
Securities pledged as collateral | $ 463,165 | $ 466,321 |
Residential real estate mortgage-backed securities | $ 793,680 | |
Life of mortgage-backed securities | 3 years 2 months 26 days | |
Obligations of U.S. government agencies | ||
Investment Securities [Line Items] | ||
Percentage of aggregate depreciation in unrealized losses | 0.56% | |
Asset backed securities | ||
Investment Securities [Line Items] | ||
Percentage of aggregate depreciation in unrealized losses | 11.02% | |
Number of available for sale securities in unrealized loss position (in investment securities) | investment_security | 15 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Investments, Debt and Equity Securities [Abstract] | ||
Amortized cost, due in one year, available for sale | $ 604 | |
Amortized cost, due after one year through five years, available for sale | 18,264 | |
Amortized cost, due after five years through ten years, available for sale | 114,545 | |
Amortized cost, due after ten years, available for sale | 894,760 | |
Amortized Cost | 1,028,173 | $ 946,751 |
Estimated fair value, due in one year, available for sale | 607 | |
Estimated fair value, due after one year through five years, available for sale | 18,958 | |
Estimated fair value, due after five years through ten years, available for sale | 103,673 | |
Estimated fair value, due after ten years, available for sale | 878,761 | |
Estimated Fair Value | 1,001,999 | 950,138 |
Amortized cost, due within one year, held to maturity | 1,279 | |
Amortized cost, due after one year through five years, held to maturity | 0 | |
Amortized cost, due after five years through ten years, held to maturity | 22,271 | |
Amortized cost, due after ten years, held to maturity | 336,220 | |
Amortized cost, held to maturity | 359,770 | 375,606 |
Estimated fair value, due within one year, held to maturity | 1,285 | |
Estimated fair value, due after one year through five years, held to maturity | 0 | |
Estimated fair value, due after five years through ten years, held to maturity | 23,136 | |
Estimated fair value, due after ten years, held to maturity | 353,021 | |
Estimated fair value, held to maturity | $ 377,442 | $ 381,525 |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses on Debt Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available for Sale, Less than 12 Months, Fair Value | $ 274,950 | |
Debt Securities, Available for Sale, Less than 12 more, Unrealized Loss | (4,845) | |
Debt Securities, Available for Sale, 12 Months or more, Fair Value | 123,833 | |
Debt Securities, Available for Sale, 12 Months or more, Unrealized Loss | (2,489) | |
Debt Securities, Available for Sale, Fair Value | 398,783 | |
Debt Securities, Available-for-sale, Unrealized Loss | (7,334) | |
Debt Securities Held to Maturity, Less than 12 months, Fair Value | 18,813 | |
Debt Securities Held to Maturity, Less than 12 months, Unrealized Loss | (142) | |
Debt Securities Held to Maturity, 12 months or more, Fair Value | 62,952 | |
Debt Securities Held to Maturity, 12 months or more, Unrealized Loss | (338) | |
Debt Securities Held to Maturity, Fair Value | 81,765 | |
Debt Securities Held to Maturity, Unrealized Loss | (480) | |
Asset backed securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available for Sale, Less than 12 Months, Fair Value | $ 166,612 | 237,463 |
Debt Securities, Available for Sale, Less than 12 more, Unrealized Loss | (13,000) | (4,535) |
Debt Securities, Available for Sale, 12 Months or more, Fair Value | 248,222 | 99,981 |
Debt Securities, Available for Sale, 12 Months or more, Unrealized Loss | (38,363) | (2,378) |
Debt Securities, Available for Sale, Fair Value | 414,834 | 337,444 |
Debt Securities, Available-for-sale, Unrealized Loss | (51,363) | (6,913) |
Obligations of U.S. government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available for Sale, Less than 12 Months, Fair Value | 36,709 | |
Debt Securities, Available for Sale, Less than 12 more, Unrealized Loss | (309) | |
Debt Securities, Available for Sale, 12 Months or more, Fair Value | 23,852 | |
Debt Securities, Available for Sale, 12 Months or more, Unrealized Loss | (111) | |
Debt Securities, Available for Sale, Fair Value | 60,561 | |
Debt Securities, Available-for-sale, Unrealized Loss | (420) | |
Debt Securities Held to Maturity, Less than 12 months, Fair Value | 707 | 18,813 |
Debt Securities Held to Maturity, Less than 12 months, Unrealized Loss | (4) | (142) |
Debt Securities Held to Maturity, 12 months or more, Fair Value | 0 | 62,952 |
Debt Securities Held to Maturity, 12 months or more, Unrealized Loss | 0 | (338) |
Debt Securities Held to Maturity, Fair Value | 707 | 81,765 |
Debt Securities Held to Maturity, Unrealized Loss | $ (4) | (480) |
Obligations of states and political subdivisions | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available for Sale, Less than 12 Months, Fair Value | 778 | |
Debt Securities, Available for Sale, Less than 12 more, Unrealized Loss | (1) | |
Debt Securities, Available for Sale, 12 Months or more, Fair Value | 0 | |
Debt Securities, Available for Sale, 12 Months or more, Unrealized Loss | 0 | |
Debt Securities, Available for Sale, Fair Value | 778 | |
Debt Securities, Available-for-sale, Unrealized Loss | $ (1) |
Investment Securities - Amort_3
Investment Securities - Amortized Cost of Debt Securities Held-to-Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Amortized cost, held to maturity | $ 359,770 | $ 375,606 |
AAA/AA/A | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Amortized cost, held to maturity | 359,081 | 374,921 |
BBB/BB/B | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Amortized cost, held to maturity | 689 | 685 |
Obligations of U.S. government agencies | AAA/AA/A | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Amortized cost, held to maturity | 345,944 | 361,785 |
Obligations of U.S. government agencies | BBB/BB/B | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Amortized cost, held to maturity | 0 | 0 |
Obligations of states and political subdivisions | AAA/AA/A | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Amortized cost, held to maturity | 13,137 | 13,136 |
Obligations of states and political subdivisions | BBB/BB/B | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||
Amortized cost, held to maturity | $ 689 | $ 685 |
Loans - Summary of Loan Balance
Loans - Summary of Loan Balances (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | $ 4,379,062 | $ 4,307,366 | ||
Allowance for loan losses | (57,911) | (30,616) | $ (32,064) | $ (32,582) |
Mortgage Loans on Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for loan losses | (34,903) | (14,301) | (14,830) | (15,620) |
Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for loan losses | (13,942) | (7,778) | (8,341) | (8,375) |
Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 290,334 | |||
Allowance for loan losses | (4,471) | (5,149) | (6,078) | (6,090) |
Construction | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Allowance for loan losses | (4,595) | (3,388) | (2,815) | (2,497) |
Residential 1-4 family | Mortgage Loans on Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 509,508 | |||
Allowance for loan losses | (5,650) | (2,306) | (2,500) | (2,676) |
Home equity loans | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 27,110 | 28,586 | ||
Allowance for loan losses | (673) | (611) | (1,286) | (1,540) |
Other | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 82,427 | 82,656 | ||
Allowance for loan losses | (2,746) | (1,595) | (1,040) | (793) |
Commercial | Mortgage Loans on Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 2,889,183 | 2,818,782 | ||
Allowance for loan losses | (29,253) | (11,995) | (12,330) | (12,944) |
Commercial | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 283,707 | |||
Commercial | Construction | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 199,381 | 203,681 | ||
Allowance for loan losses | (3,771) | (2,758) | (2,267) | (2,033) |
Home equity lines of credit | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 341,461 | 334,300 | ||
Allowance for loan losses | (10,523) | (5,572) | (6,015) | (6,042) |
Residential | Construction | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 42,333 | 46,146 | ||
Allowance for loan losses | (824) | (630) | $ (548) | $ (464) |
Residential | Residential 1-4 family | Mortgage Loans on Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 506,833 | |||
Purchase Not Credit Impaired Loans | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 4,379,062 | 4,307,366 | ||
Total principal balance of loans owed, net of charge-offs | 4,420,889 | 4,351,725 | ||
Unamortized net deferred loan fees | (8,794) | (8,927) | ||
Discounts to principal balance of loans owed, net of charge-offs | (33,033) | (35,432) | ||
Allowance for loan losses | (57,911) | (30,616) | ||
Purchase Not Credit Impaired Loans | Mortgage Loans on Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 3,396,016 | 3,328,290 | ||
Purchase Not Credit Impaired Loans | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 450,998 | 445,542 | ||
Purchase Not Credit Impaired Loans | Commercial | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 290,334 | 283,707 | ||
Purchase Not Credit Impaired Loans | Construction | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 241,714 | 249,827 | ||
Purchase Not Credit Impaired Loans | Residential 1-4 family | Mortgage Loans on Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 506,833 | 509,508 | ||
Purchase Not Credit Impaired Loans | Home equity loans | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 27,110 | 28,586 | ||
Purchase Not Credit Impaired Loans | Other | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 82,427 | 82,656 | ||
Purchase Not Credit Impaired Loans | Commercial | Mortgage Loans on Real Estate | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 2,889,183 | 2,818,782 | ||
Purchase Not Credit Impaired Loans | Commercial | Construction | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 199,381 | 203,681 | ||
Purchase Not Credit Impaired Loans | Home equity lines of credit | Consumer | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | 341,461 | 334,300 | ||
Purchase Not Credit Impaired Loans | Residential | Construction | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total | $ 42,333 | $ 46,146 |
Allowance for Credit Losses - S
Allowance for Credit Losses - Summary of Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | $ 30,616 | $ 32,582 | $ 32,582 |
Charge-offs | (510) | (726) | (3,639) |
Recoveries | 892 | 1,808 | 3,363 |
Provision (benefit) | 8,000 | (1,600) | (1,690) |
Ending balance | 57,911 | 32,064 | 30,616 |
Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 18,913 | ||
Ending balance | 18,913 | ||
Mortgage Loans on Real Estate | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 14,301 | 15,620 | 15,620 |
Charge-offs | 0 | 0 | (748) |
Recoveries | 604 | 1,383 | 1,582 |
Provision (benefit) | 5,475 | (2,173) | (2,153) |
Ending balance | 34,903 | 14,830 | 14,301 |
Mortgage Loans on Real Estate | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 14,523 | ||
Ending balance | 14,523 | ||
Mortgage Loans on Real Estate | Commercial | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 11,995 | 12,944 | 12,944 |
Charge-offs | 0 | 0 | (746) |
Recoveries | 194 | 1,381 | 1,528 |
Provision (benefit) | 5,216 | (1,995) | (1,731) |
Ending balance | 29,253 | 12,330 | 11,995 |
Mortgage Loans on Real Estate | Commercial | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 11,848 | ||
Ending balance | 11,848 | ||
Consumer | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 7,778 | 8,375 | 8,375 |
Charge-offs | (130) | (207) | (768) |
Recoveries | 142 | 257 | 1,256 |
Provision (benefit) | 543 | (84) | (1,085) |
Ending balance | 13,942 | 8,341 | 7,778 |
Consumer | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 5,609 | ||
Ending balance | 5,609 | ||
Consumer | Home equity lines of credit | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 5,572 | 6,042 | 6,042 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 33 | 95 | 504 |
Provision (benefit) | 369 | (122) | (974) |
Ending balance | 10,523 | 6,015 | 5,572 |
Consumer | Home equity lines of credit | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 4,549 | ||
Ending balance | 4,549 | ||
Commercial | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 5,149 | 6,090 | 6,090 |
Charge-offs | (380) | (519) | (2,123) |
Recoveries | 146 | 168 | 525 |
Provision (benefit) | 1,708 | 339 | 657 |
Ending balance | 4,471 | 6,078 | 5,149 |
Commercial | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | (2,152) | ||
Ending balance | (2,152) | ||
Construction | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 3,388 | 2,497 | 2,497 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision (benefit) | 274 | 318 | 891 |
Ending balance | 4,595 | 2,815 | 3,388 |
Construction | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 933 | ||
Ending balance | 933 | ||
Construction | Commercial | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 2,758 | 2,033 | 2,033 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision (benefit) | 269 | 234 | 725 |
Ending balance | 3,771 | 2,267 | 2,758 |
Construction | Commercial | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 744 | ||
Ending balance | 744 | ||
Construction | Residential | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 630 | 464 | 464 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Provision (benefit) | 5 | 84 | 166 |
Ending balance | 824 | 548 | 630 |
Construction | Residential | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 189 | ||
Ending balance | 189 | ||
Residential 1-4 family | Mortgage Loans on Real Estate | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 2,306 | 2,676 | 2,676 |
Charge-offs | 0 | 0 | (2) |
Recoveries | 410 | 2 | 54 |
Provision (benefit) | 259 | (178) | (422) |
Ending balance | 5,650 | 2,500 | 2,306 |
Residential 1-4 family | Mortgage Loans on Real Estate | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 2,675 | ||
Ending balance | 2,675 | ||
Home equity loans | Consumer | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 611 | 1,540 | 1,540 |
Charge-offs | 0 | 0 | (3) |
Recoveries | 15 | 87 | 431 |
Provision (benefit) | (42) | (341) | (1,357) |
Ending balance | 673 | 1,286 | 611 |
Home equity loans | Consumer | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 89 | ||
Ending balance | 89 | ||
Other | Consumer | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | 1,595 | 793 | 793 |
Charge-offs | (130) | (207) | (765) |
Recoveries | 94 | 75 | 321 |
Provision (benefit) | 216 | 379 | 1,246 |
Ending balance | 2,746 | $ 1,040 | 1,595 |
Other | Consumer | Impact of CECL Adoption | |||
Allowance for Loan and Lease Losses [Roll Forward] | |||
Beginning balance | $ 971 | ||
Ending balance | $ 971 |
Allowance for Credit Losses -_2
Allowance for Credit Losses - Schedule Credit Quality Indicators (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | $ 150,591 | $ 733,794 |
Fiscal Year before Latest Fiscal Year | 730,766 | 589,023 |
Two Years before Latest Fiscal Year | 581,856 | 618,788 |
Three Years before Latest Fiscal Year | 602,117 | 535,175 |
Four Years before Latest Fiscal Year | 521,446 | |
Prior | 1,239,712 | |
Prior | 1,298,566 | |
Revolving Loans Amortized Cost Basis | 542,755 | 525,933 |
Revolving Loans Converted to Term | 9,819 | 6,087 |
Total | 4,379,062 | 4,307,366 |
Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 15,616 | |
Fiscal Year before Latest Fiscal Year | 66,298 | |
Two Years before Latest Fiscal Year | 32,666 | |
Three Years before Latest Fiscal Year | 27,001 | |
Four Years before Latest Fiscal Year | 11,452 | |
Prior | 17,745 | |
Revolving Loans Amortized Cost Basis | 113,518 | |
Revolving Loans Converted to Term | 6,038 | |
Total | 290,334 | |
Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 102,613 | |
Fiscal Year before Latest Fiscal Year | 64,355 | |
Two Years before Latest Fiscal Year | 75,314 | |
Three Years before Latest Fiscal Year | 65,121 | |
Prior | 202,105 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 509,508 | |
Home equity loans | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 155 | 607 |
Fiscal Year before Latest Fiscal Year | 580 | 320 |
Two Years before Latest Fiscal Year | 309 | 382 |
Three Years before Latest Fiscal Year | 378 | 868 |
Four Years before Latest Fiscal Year | 818 | |
Prior | 24,354 | |
Prior | 25,973 | |
Revolving Loans Amortized Cost Basis | 500 | 399 |
Revolving Loans Converted to Term | 16 | 37 |
Total | 27,110 | 28,586 |
Other | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 7,679 | 45,791 |
Fiscal Year before Latest Fiscal Year | 40,566 | 23,196 |
Two Years before Latest Fiscal Year | 20,635 | 7,365 |
Three Years before Latest Fiscal Year | 6,374 | 2,298 |
Four Years before Latest Fiscal Year | 1,938 | |
Prior | 1,980 | |
Prior | 2,316 | |
Revolving Loans Amortized Cost Basis | 1,846 | 1,684 |
Revolving Loans Converted to Term | 1,409 | 6 |
Total | 82,427 | 82,656 |
Residential | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 1,725 | 18,516 |
Fiscal Year before Latest Fiscal Year | 15,703 | 12,990 |
Two Years before Latest Fiscal Year | 17,067 | 0 |
Three Years before Latest Fiscal Year | 0 | 7,521 |
Four Years before Latest Fiscal Year | 7,838 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 6,230 |
Revolving Loans Converted to Term | 0 | 889 |
Total | 42,333 | 46,146 |
Residential | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 25,698 | |
Fiscal Year before Latest Fiscal Year | 102,369 | |
Two Years before Latest Fiscal Year | 59,852 | |
Three Years before Latest Fiscal Year | 71,368 | |
Four Years before Latest Fiscal Year | 60,132 | |
Prior | 187,192 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 222 | |
Total | 506,833 | |
Commercial | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 82,698 | 447,427 |
Fiscal Year before Latest Fiscal Year | 461,144 | 374,519 |
Two Years before Latest Fiscal Year | 365,527 | 428,457 |
Three Years before Latest Fiscal Year | 452,252 | 428,157 |
Four Years before Latest Fiscal Year | 421,764 | |
Prior | 988,107 | |
Prior | 1,028,461 | |
Revolving Loans Amortized Cost Basis | 116,190 | 111,013 |
Revolving Loans Converted to Term | 1,501 | 748 |
Total | 2,889,183 | 2,818,782 |
Commercial | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 77,614 | |
Fiscal Year before Latest Fiscal Year | 37,798 | |
Two Years before Latest Fiscal Year | 29,912 | |
Three Years before Latest Fiscal Year | 13,719 | |
Prior | 18,363 | |
Revolving Loans Amortized Cost Basis | 102,630 | |
Revolving Loans Converted to Term | 3,671 | |
Total | 283,707 | |
Commercial | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 14,081 | 31,031 |
Fiscal Year before Latest Fiscal Year | 35,515 | 72,339 |
Two Years before Latest Fiscal Year | 82,740 | 76,043 |
Three Years before Latest Fiscal Year | 43,455 | 15,654 |
Four Years before Latest Fiscal Year | 15,793 | |
Prior | 7,797 | |
Prior | 7,639 | |
Revolving Loans Amortized Cost Basis | 0 | 975 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 199,381 | 203,681 |
Home equity lines of credit | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 2,939 | 10,195 |
Fiscal Year before Latest Fiscal Year | 8,591 | 3,506 |
Two Years before Latest Fiscal Year | 3,060 | 1,315 |
Three Years before Latest Fiscal Year | 1,289 | 1,837 |
Four Years before Latest Fiscal Year | 1,711 | |
Prior | 12,537 | |
Prior | 13,709 | |
Revolving Loans Amortized Cost Basis | 310,701 | 303,002 |
Revolving Loans Converted to Term | 633 | 736 |
Total | 341,461 | 334,300 |
Pass | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 150,088 | 732,848 |
Fiscal Year before Latest Fiscal Year | 726,819 | 586,097 |
Two Years before Latest Fiscal Year | 579,098 | 606,907 |
Three Years before Latest Fiscal Year | 588,552 | 516,183 |
Four Years before Latest Fiscal Year | 500,484 | |
Prior | 1,203,981 | |
Prior | 1,265,974 | |
Revolving Loans Amortized Cost Basis | 522,177 | 514,727 |
Revolving Loans Converted to Term | 8,832 | 5,963 |
Total | 4,280,031 | 4,228,699 |
Pass | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 15,616 | |
Fiscal Year before Latest Fiscal Year | 66,145 | |
Two Years before Latest Fiscal Year | 32,209 | |
Three Years before Latest Fiscal Year | 25,226 | |
Four Years before Latest Fiscal Year | 10,041 | |
Prior | 17,434 | |
Revolving Loans Amortized Cost Basis | 112,189 | |
Revolving Loans Converted to Term | 5,164 | |
Total | 284,024 | |
Pass | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 102,613 | |
Fiscal Year before Latest Fiscal Year | 63,542 | |
Two Years before Latest Fiscal Year | 73,195 | |
Three Years before Latest Fiscal Year | 65,050 | |
Prior | 194,214 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 498,614 | |
Pass | Home equity loans | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 2 | 607 |
Fiscal Year before Latest Fiscal Year | 580 | 300 |
Two Years before Latest Fiscal Year | 290 | 382 |
Three Years before Latest Fiscal Year | 378 | 712 |
Four Years before Latest Fiscal Year | 673 | |
Prior | 21,191 | |
Prior | 22,655 | |
Revolving Loans Amortized Cost Basis | 500 | 399 |
Revolving Loans Converted to Term | 16 | 37 |
Total | 23,630 | 25,092 |
Pass | Other | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 7,679 | 45,675 |
Fiscal Year before Latest Fiscal Year | 40,454 | 23,014 |
Two Years before Latest Fiscal Year | 20,465 | 7,176 |
Three Years before Latest Fiscal Year | 6,221 | 2,245 |
Four Years before Latest Fiscal Year | 1,883 | |
Prior | 1,787 | |
Prior | 2,099 | |
Revolving Loans Amortized Cost Basis | 1,747 | 1,602 |
Revolving Loans Converted to Term | 1,407 | 3 |
Total | 81,643 | 81,814 |
Pass | Residential | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 1,725 | 18,516 |
Fiscal Year before Latest Fiscal Year | 15,703 | 12,990 |
Two Years before Latest Fiscal Year | 17,067 | 0 |
Three Years before Latest Fiscal Year | 0 | 3,319 |
Four Years before Latest Fiscal Year | 3,459 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 6,230 |
Revolving Loans Converted to Term | 0 | 889 |
Total | 37,954 | 41,944 |
Pass | Residential | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 25,698 | |
Fiscal Year before Latest Fiscal Year | 102,369 | |
Two Years before Latest Fiscal Year | 59,278 | |
Three Years before Latest Fiscal Year | 69,504 | |
Four Years before Latest Fiscal Year | 60,063 | |
Prior | 179,461 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 117 | |
Total | 496,490 | |
Pass | Commercial | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 82,428 | 446,597 |
Fiscal Year before Latest Fiscal Year | 457,462 | 373,065 |
Two Years before Latest Fiscal Year | 364,082 | 421,901 |
Three Years before Latest Fiscal Year | 443,054 | 415,568 |
Four Years before Latest Fiscal Year | 407,011 | |
Prior | 967,584 | |
Prior | 1,010,057 | |
Revolving Loans Amortized Cost Basis | 102,830 | 107,965 |
Revolving Loans Converted to Term | 1,501 | 748 |
Total | 2,825,952 | 2,775,901 |
Pass | Commercial | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 77,614 | |
Fiscal Year before Latest Fiscal Year | 37,411 | |
Two Years before Latest Fiscal Year | 27,195 | |
Three Years before Latest Fiscal Year | 11,906 | |
Prior | 17,806 | |
Revolving Loans Amortized Cost Basis | 100,098 | |
Revolving Loans Converted to Term | 3,623 | |
Total | 275,653 | |
Pass | Commercial | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 14,081 | 31,031 |
Fiscal Year before Latest Fiscal Year | 35,515 | 72,339 |
Two Years before Latest Fiscal Year | 82,740 | 76,043 |
Three Years before Latest Fiscal Year | 43,455 | 15,654 |
Four Years before Latest Fiscal Year | 15,793 | |
Prior | 5,709 | |
Prior | 7,322 | |
Revolving Loans Amortized Cost Basis | 0 | 975 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 197,293 | 203,364 |
Pass | Home equity lines of credit | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 2,859 | 10,195 |
Fiscal Year before Latest Fiscal Year | 8,591 | 3,436 |
Two Years before Latest Fiscal Year | 2,967 | 1,015 |
Three Years before Latest Fiscal Year | 714 | 1,729 |
Four Years before Latest Fiscal Year | 1,561 | |
Prior | 10,815 | |
Prior | 11,821 | |
Revolving Loans Amortized Cost Basis | 304,911 | 297,458 |
Revolving Loans Converted to Term | 627 | 663 |
Total | 333,045 | 326,317 |
Special Mention | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 150 | 56 |
Fiscal Year before Latest Fiscal Year | 2,341 | 552 |
Two Years before Latest Fiscal Year | 300 | 7,832 |
Three Years before Latest Fiscal Year | 9,212 | 13,844 |
Four Years before Latest Fiscal Year | 16,222 | |
Prior | 17,338 | |
Prior | 14,244 | |
Revolving Loans Amortized Cost Basis | 16,799 | 7,653 |
Revolving Loans Converted to Term | 807 | 37 |
Total | 63,169 | 44,218 |
Special Mention | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 0 | |
Two Years before Latest Fiscal Year | 75 | |
Three Years before Latest Fiscal Year | 539 | |
Four Years before Latest Fiscal Year | 149 | |
Prior | 110 | |
Revolving Loans Amortized Cost Basis | 604 | |
Revolving Loans Converted to Term | 700 | |
Total | 2,177 | |
Special Mention | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 0 | |
Two Years before Latest Fiscal Year | 1,408 | |
Three Years before Latest Fiscal Year | 19 | |
Prior | 3,287 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 4,714 | |
Special Mention | Home equity loans | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 20 |
Two Years before Latest Fiscal Year | 19 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 906 | |
Prior | 1,172 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 925 | 1,192 |
Special Mention | Other | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 56 |
Fiscal Year before Latest Fiscal Year | 53 | 182 |
Two Years before Latest Fiscal Year | 170 | 176 |
Three Years before Latest Fiscal Year | 141 | 52 |
Four Years before Latest Fiscal Year | 44 | |
Prior | 158 | |
Prior | 172 | |
Revolving Loans Amortized Cost Basis | 83 | 81 |
Revolving Loans Converted to Term | 2 | 0 |
Total | 651 | 719 |
Special Mention | Residential | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 4,202 |
Four Years before Latest Fiscal Year | 4,379 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 4,379 | 4,202 |
Special Mention | Residential | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 0 | |
Two Years before Latest Fiscal Year | 0 | |
Three Years before Latest Fiscal Year | 868 | |
Four Years before Latest Fiscal Year | 18 | |
Prior | 2,953 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 105 | |
Total | 3,944 | |
Special Mention | Commercial | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 70 | 0 |
Fiscal Year before Latest Fiscal Year | 2,288 | 0 |
Two Years before Latest Fiscal Year | 0 | 4,965 |
Three Years before Latest Fiscal Year | 7,618 | 9,373 |
Four Years before Latest Fiscal Year | 11,562 | |
Prior | 10,722 | |
Prior | 8,467 | |
Revolving Loans Amortized Cost Basis | 12,588 | 2,253 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 44,848 | 25,058 |
Special Mention | Commercial | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 339 | |
Two Years before Latest Fiscal Year | 1,236 | |
Three Years before Latest Fiscal Year | 167 | |
Prior | 164 | |
Revolving Loans Amortized Cost Basis | 1,921 | |
Revolving Loans Converted to Term | 0 | |
Total | 3,827 | |
Special Mention | Commercial | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 1,845 | |
Prior | 317 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 1,845 | 317 |
Special Mention | Home equity lines of credit | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 80 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 11 |
Two Years before Latest Fiscal Year | 36 | 47 |
Three Years before Latest Fiscal Year | 46 | 31 |
Four Years before Latest Fiscal Year | 70 | |
Prior | 644 | |
Prior | 665 | |
Revolving Loans Amortized Cost Basis | 3,524 | 3,398 |
Revolving Loans Converted to Term | 0 | 37 |
Total | 4,400 | 4,189 |
Substandard | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 353 | 890 |
Fiscal Year before Latest Fiscal Year | 1,606 | 2,374 |
Two Years before Latest Fiscal Year | 2,458 | 4,049 |
Three Years before Latest Fiscal Year | 4,353 | 5,148 |
Four Years before Latest Fiscal Year | 4,740 | |
Prior | 18,393 | |
Prior | 18,348 | |
Revolving Loans Amortized Cost Basis | 3,779 | 3,553 |
Revolving Loans Converted to Term | 180 | 87 |
Total | 35,862 | 34,449 |
Substandard | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 153 | |
Two Years before Latest Fiscal Year | 382 | |
Three Years before Latest Fiscal Year | 1,236 | |
Four Years before Latest Fiscal Year | 1,262 | |
Prior | 201 | |
Revolving Loans Amortized Cost Basis | 725 | |
Revolving Loans Converted to Term | 174 | |
Total | 4,133 | |
Substandard | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 813 | |
Two Years before Latest Fiscal Year | 711 | |
Three Years before Latest Fiscal Year | 52 | |
Prior | 4,604 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 6,180 | |
Substandard | Home equity loans | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 153 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 156 |
Four Years before Latest Fiscal Year | 145 | |
Prior | 2,257 | |
Prior | 2,146 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 2,555 | 2,302 |
Substandard | Other | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 60 |
Fiscal Year before Latest Fiscal Year | 59 | 0 |
Two Years before Latest Fiscal Year | 0 | 13 |
Three Years before Latest Fiscal Year | 12 | 1 |
Four Years before Latest Fiscal Year | 11 | |
Prior | 35 | |
Prior | 45 | |
Revolving Loans Amortized Cost Basis | 16 | 1 |
Revolving Loans Converted to Term | 0 | 3 |
Total | 133 | 123 |
Substandard | Residential | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Substandard | Residential | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 0 | |
Two Years before Latest Fiscal Year | 574 | |
Three Years before Latest Fiscal Year | 996 | |
Four Years before Latest Fiscal Year | 51 | |
Prior | 4,778 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 6,399 | |
Substandard | Commercial | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 200 | 830 |
Fiscal Year before Latest Fiscal Year | 1,394 | 1,454 |
Two Years before Latest Fiscal Year | 1,445 | 1,591 |
Three Years before Latest Fiscal Year | 1,580 | 3,216 |
Four Years before Latest Fiscal Year | 3,191 | |
Prior | 9,801 | |
Prior | 9,937 | |
Revolving Loans Amortized Cost Basis | 772 | 795 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 18,383 | 17,823 |
Substandard | Commercial | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 48 | |
Two Years before Latest Fiscal Year | 1,481 | |
Three Years before Latest Fiscal Year | 1,646 | |
Prior | 393 | |
Revolving Loans Amortized Cost Basis | 611 | |
Revolving Loans Converted to Term | 48 | |
Total | 4,227 | |
Substandard | Commercial | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 243 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 243 | 0 |
Substandard | Home equity lines of credit | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 59 |
Two Years before Latest Fiscal Year | 57 | 253 |
Three Years before Latest Fiscal Year | 529 | 77 |
Four Years before Latest Fiscal Year | 80 | |
Prior | 1,078 | |
Prior | 1,223 | |
Revolving Loans Amortized Cost Basis | 2,266 | 2,146 |
Revolving Loans Converted to Term | 6 | 36 |
Total | 4,016 | 3,794 |
Doubtful/Loss | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Doubtful/Loss | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 0 | |
Two Years before Latest Fiscal Year | 0 | |
Three Years before Latest Fiscal Year | 0 | |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Doubtful/Loss | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 0 | |
Two Years before Latest Fiscal Year | 0 | |
Three Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Doubtful/Loss | Home equity loans | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Doubtful/Loss | Other | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Doubtful/Loss | Residential | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Doubtful/Loss | Residential | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 0 | |
Two Years before Latest Fiscal Year | 0 | |
Three Years before Latest Fiscal Year | 0 | |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Doubtful/Loss | Commercial | Mortgage Loans on Real Estate | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Doubtful/Loss | Commercial | Commercial | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | |
Fiscal Year before Latest Fiscal Year | 0 | |
Two Years before Latest Fiscal Year | 0 | |
Three Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | |
Revolving Loans Converted to Term | 0 | |
Total | 0 | |
Doubtful/Loss | Commercial | Construction | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | 0 | 0 |
Doubtful/Loss | Home equity lines of credit | Consumer | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Current Fiscal Year | 0 | 0 |
Fiscal Year before Latest Fiscal Year | 0 | 0 |
Two Years before Latest Fiscal Year | 0 | 0 |
Three Years before Latest Fiscal Year | 0 | 0 |
Four Years before Latest Fiscal Year | 0 | |
Prior | 0 | |
Prior | 0 | |
Revolving Loans Amortized Cost Basis | 0 | 0 |
Revolving Loans Converted to Term | 0 | 0 |
Total | $ 0 | $ 0 |
Allowance for Credit Losses - A
Allowance for Credit Losses - Analysis of Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Total | $ 4,379,062 | $ 4,307,366 |
Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 290,334 | |
Residential 1-4 family | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 509,508 | |
Home equity loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 27,110 | 28,586 |
Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 82,427 | 82,656 |
Commercial | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 2,889,183 | 2,818,782 |
Commercial | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 283,707 | |
Commercial | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 199,381 | 203,681 |
Home equity lines of credit | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 341,461 | 334,300 |
Residential | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 42,333 | 46,146 |
Residential | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total | 506,833 | |
Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 29,339 | 10,720 |
Current | 4,349,723 | 4,296,646 |
Total | 4,379,062 | 4,307,366 |
Financial Asset Originated | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 24,865 | 6,625 |
Current | 3,371,151 | 3,321,665 |
Total | 3,396,016 | 3,328,290 |
Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 2,458 | 3,121 |
Current | 448,540 | 442,421 |
Total | 450,998 | 445,542 |
Financial Asset Originated | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 2,016 | 974 |
Current | 288,318 | 282,733 |
Total | 290,334 | 283,707 |
Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Current | 241,714 | 249,827 |
Total | 241,714 | 249,827 |
Financial Asset Originated | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 2,462 | 3,477 |
Current | 504,371 | 506,031 |
Total | 506,833 | 509,508 |
Financial Asset Originated | Home equity loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 457 | 523 |
Current | 26,653 | 28,063 |
Total | 27,110 | 28,586 |
Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 226 | 196 |
Current | 82,201 | 82,460 |
Total | 82,427 | 82,656 |
Financial Asset Originated | Commercial | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 22,403 | 3,148 |
Current | 2,866,780 | 2,815,634 |
Total | 2,889,183 | 2,818,782 |
Financial Asset Originated | Commercial | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Current | 199,381 | 203,681 |
Total | 199,381 | 203,681 |
Financial Asset Originated | Home equity lines of credit | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 1,775 | 2,402 |
Current | 339,686 | 331,898 |
Total | 341,461 | 334,300 |
Financial Asset Originated | Residential | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Current | 42,333 | 46,146 |
Total | 42,333 | 46,146 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 21,030 | 3,812 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 19,144 | 1,730 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 872 | 1,430 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 1,014 | 652 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 699 | 1,149 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Home equity loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 200 | 175 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 100 | 172 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Commercial | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 18,445 | 581 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Commercial | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Home equity lines of credit | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 572 | 1,083 |
Financial Asset, 30 to 59 Days Past Due | Financial Asset Originated | Residential | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 2,376 | 1,385 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 1,283 | 507 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 161 | 580 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 932 | 298 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 371 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Home equity loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 64 | 216 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 12 | 1 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Commercial | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 1,283 | 136 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Commercial | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Home equity lines of credit | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 85 | 363 |
Financial Asset, 60 to 89 Days Past Due | Financial Asset Originated | Residential | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 5,933 | 5,523 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 4,438 | 4,388 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 1,425 | 1,111 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 70 | 24 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Residential 1-4 family | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 1,763 | 1,957 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Home equity loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 193 | 132 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 114 | 23 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Commercial | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 2,675 | 2,431 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Commercial | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Home equity lines of credit | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | 1,118 | 956 |
Financial Asset, Equal to or Greater than 90 Days Past Due | Financial Asset Originated | Residential | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Past due | $ 0 | $ 0 |
Allowance for Credit Losses -_3
Allowance for Credit Losses - Additional Information (Detail) - Financial Asset Originated - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Loans and Leases Receivable Disclosure [Line Items] | ||
Interest income on non accrual loans | $ 431 | $ 400 |
Interest income recognized on non accrual loans | $ 47 | $ 93 |
Allowance for Credit Losses -_4
Allowance for Credit Losses - Schedule of Non Accrual Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | $ 15,201 | $ 14,825 |
Nonaccrual loans | 17,955 | 16,864 |
Past due 90 days or more and still accruing | 0 | 11 |
Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 10,620 | 10,339 |
Nonaccrual loans | 11,298 | 10,508 |
Past due 90 days or more and still accruing | 0 | 0 |
Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 4,283 | 3,997 |
Nonaccrual loans | 5,004 | 4,267 |
Past due 90 days or more and still accruing | 11 | |
Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 298 | 489 |
Nonaccrual loans | 1,653 | 2,089 |
Past due 90 days or more and still accruing | 0 | 0 |
Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Past due 90 days or more and still accruing | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 5,169 | 5,023 |
Nonaccrual loans | 5,784 | 5,192 |
Past due 90 days or more and still accruing | 0 | 0 |
Home equity loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 1,523 | 1,574 |
Nonaccrual loans | 1,654 | 1,626 |
Past due 90 days or more and still accruing | 0 | 0 |
Other | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 0 | 4 |
Nonaccrual loans | 140 | 51 |
Past due 90 days or more and still accruing | 0 | 11 |
Commercial | Mortgage Loans on Real Estate | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 5,451 | 5,316 |
Nonaccrual loans | 5,514 | 5,316 |
Past due 90 days or more and still accruing | 0 | 0 |
Commercial | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Past due 90 days or more and still accruing | 0 | 0 |
Home equity lines of credit | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 2,760 | 2,419 |
Nonaccrual loans | 3,210 | 2,590 |
Past due 90 days or more and still accruing | 0 | 0 |
Residential | Construction | ||
Financing Receivable, Past Due [Line Items] | ||
Non accrual with no allowance for credit losses | 0 | 0 |
Nonaccrual loans | 0 | 0 |
Past due 90 days or more and still accruing | $ 0 | $ 0 |
Allowance for Credit Losses -_5
Allowance for Credit Losses - Amortized Cost Basis of Collateral Dependent Loans, By Class of Loan (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | $ 4,379,062 | $ 4,307,366 |
Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,483 | 2,506 |
Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 161 | 163 |
Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,866 | 1,640 |
Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 506 | 509 |
Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,060 | 2,060 |
Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,359 | 1,242 |
SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 5,862 | 5,341 |
SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 4,042 | 3,848 |
Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 127 | 27 |
A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,824 | 1,952 |
Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,012 | 1,026 |
Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 120 | 111 |
Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 21,422 | 20,425 |
Mortgage Loans on Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,483 | 2,506 |
Mortgage Loans on Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 161 | 163 |
Mortgage Loans on Real Estate | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,866 | 1,640 |
Mortgage Loans on Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 506 | 509 |
Mortgage Loans on Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,060 | 2,060 |
Mortgage Loans on Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,203 | 1,242 |
Mortgage Loans on Real Estate | SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 5,815 | 5,293 |
Mortgage Loans on Real Estate | SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Mortgage Loans on Real Estate | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Mortgage Loans on Real Estate | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Mortgage Loans on Real Estate | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Mortgage Loans on Real Estate | Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Mortgage Loans on Real Estate | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 14,094 | 13,413 |
Consumer | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Consumer | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Consumer | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Consumer | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Consumer | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 156 | 0 |
Consumer | SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 47 | 48 |
Consumer | SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 4,042 | 3,848 |
Consumer | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 127 | 27 |
Consumer | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Consumer | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Consumer | Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 4 | 4 |
Consumer | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 4,376 | 3,927 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 290,334 | |
Commercial | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,824 | 1,952 |
Commercial | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,012 | 1,026 |
Commercial | Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 116 | 107 |
Commercial | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,952 | 3,085 |
Residential 1-4 family | Mortgage Loans on Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 509,508 | |
Residential 1-4 family | Mortgage Loans on Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 5,815 | 5,293 |
Residential 1-4 family | Mortgage Loans on Real Estate | SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 5,815 | 5,293 |
Home equity loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 27,110 | 28,586 |
Home equity loans | Consumer | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,106 | 2,040 |
Home equity loans | Consumer | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity loans | Consumer | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,106 | 2,040 |
Other | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 82,427 | 82,656 |
Other | Consumer | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Other | Consumer | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Other | Consumer | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Other | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Other | Consumer | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Other | Consumer | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 156 | 0 |
Other | Consumer | SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 47 | 48 |
Other | Consumer | SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Other | Consumer | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 127 | 27 |
Other | Consumer | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Other | Consumer | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Other | Consumer | Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 4 | 4 |
Other | Consumer | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 334 | 79 |
Commercial | Mortgage Loans on Real Estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,889,183 | 2,818,782 |
Commercial | Mortgage Loans on Real Estate | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,483 | 2,506 |
Commercial | Mortgage Loans on Real Estate | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 161 | 163 |
Commercial | Mortgage Loans on Real Estate | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,866 | 1,640 |
Commercial | Mortgage Loans on Real Estate | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 506 | 509 |
Commercial | Mortgage Loans on Real Estate | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 2,060 | 2,060 |
Commercial | Mortgage Loans on Real Estate | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,203 | 1,242 |
Commercial | Mortgage Loans on Real Estate | SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Mortgage Loans on Real Estate | SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Mortgage Loans on Real Estate | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Mortgage Loans on Real Estate | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Mortgage Loans on Real Estate | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Mortgage Loans on Real Estate | Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Commercial | Mortgage Loans on Real Estate | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 8,279 | 8,120 |
Commercial | Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 283,707 | |
Home equity lines of credit | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 341,461 | 334,300 |
Home equity lines of credit | Consumer | Retail | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | Office | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | Warehouse | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | Multifamily | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | Farmland | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | SFR -1st Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | SFR -2nd Deed | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 1,936 | 1,808 |
Home equity lines of credit | Consumer | Automobile/Truck | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | A/R and Inventory | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | Equipment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | Unsecured | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | 0 | 0 |
Home equity lines of credit | Consumer | Total | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total | $ 1,936 | $ 1,808 |
Allowance for Credit Losses - T
Allowance for Credit Losses - Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020USD ($)contract | Mar. 31, 2019USD ($)contract | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 6 | 4 |
Pre-mod outstanding principal balance | $ 680 | $ 299 |
Post-mod outstanding principal balance | 738 | 297 |
Financial impact due to TDR taken as additional provision | $ 21 | $ 1 |
Number that defaulted during the period | contract | 1,000 | 1 |
Recorded investment of TDR's that defaulted during the period | $ 302 | $ 7 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Mortgage Loans on Real Estate | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 3 | 1 |
Pre-mod outstanding principal balance | $ 487 | $ 163 |
Post-mod outstanding principal balance | 549 | 162 |
Financial impact due to TDR taken as additional provision | $ 0 | $ 0 |
Number that defaulted during the period | contract | 1,000 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 302 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Consumer | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 2 | 1 |
Pre-mod outstanding principal balance | $ 172 | $ 121 |
Post-mod outstanding principal balance | 169 | 120 |
Financial impact due to TDR taken as additional provision | $ 0 | $ 1 |
Number that defaulted during the period | contract | 0 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 1 | 2 |
Pre-mod outstanding principal balance | $ 21 | $ 15 |
Post-mod outstanding principal balance | 20 | 15 |
Financial impact due to TDR taken as additional provision | $ 21 | $ 0 |
Number that defaulted during the period | contract | 0 | 1 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 7 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Construction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 0 | 0 |
Pre-mod outstanding principal balance | $ 0 | $ 0 |
Post-mod outstanding principal balance | 0 | 0 |
Financial impact due to TDR taken as additional provision | $ 0 | $ 0 |
Number that defaulted during the period | contract | 0 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Residential 1-4 family | Mortgage Loans on Real Estate | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 0 | 0 |
Pre-mod outstanding principal balance | $ 0 | $ 163 |
Post-mod outstanding principal balance | 0 | 162 |
Financial impact due to TDR taken as additional provision | $ 0 | $ 0 |
Number that defaulted during the period | contract | 1,000 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 302 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Home equity loans | Consumer | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 2 | 1 |
Pre-mod outstanding principal balance | $ 172 | $ 121 |
Post-mod outstanding principal balance | 169 | 120 |
Financial impact due to TDR taken as additional provision | $ 0 | $ 1 |
Number that defaulted during the period | contract | 0 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Other | Consumer | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 0 | 0 |
Pre-mod outstanding principal balance | $ 0 | $ 0 |
Post-mod outstanding principal balance | 0 | 0 |
Financial impact due to TDR taken as additional provision | $ 0 | $ 0 |
Number that defaulted during the period | contract | 0 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Commercial | Mortgage Loans on Real Estate | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 3 | 0 |
Pre-mod outstanding principal balance | $ 487 | $ 0 |
Post-mod outstanding principal balance | 549 | 0 |
Financial impact due to TDR taken as additional provision | $ 0 | $ 0 |
Number that defaulted during the period | contract | 0 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Commercial | Construction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 0 | 0 |
Pre-mod outstanding principal balance | $ 0 | $ 0 |
Post-mod outstanding principal balance | 0 | |
Financial impact due to TDR taken as additional provision | $ 0 | $ 0 |
Number that defaulted during the period | contract | 0 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Home equity lines of credit | Consumer | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 0 | 0 |
Pre-mod outstanding principal balance | $ 0 | $ 0 |
Post-mod outstanding principal balance | 0 | 0 |
Financial impact due to TDR taken as additional provision | $ 0 | $ 0 |
Number that defaulted during the period | contract | 0 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Residential | Construction | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Number | contract | 0 | 0 |
Pre-mod outstanding principal balance | $ 0 | $ 0 |
Post-mod outstanding principal balance | 0 | |
Financial impact due to TDR taken as additional provision | $ 0 | $ 0 |
Number that defaulted during the period | contract | 0 | 0 |
Recorded investment of TDR's that defaulted during the period | $ 0 | $ 0 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ 0 | $ 0 |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 1,294 | $ 1,311 |
Short-term lease cost | 63 | 71 |
Variable lease cost | 6 | (5) |
Sublease income | (34) | (34) |
Lease, Cost, Total | $ 1,329 | $ 1,343 |
Leases - Additional Information
Leases - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2020renewalOption | |
Leases [Abstract] | |
Number of lease renewal options (in renewal options) | 1 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information Related To Leases (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Leases [Abstract] | ||
Operating cash flows for operating leases | $ 1,237 | $ 1,218 |
ROUA obtained in exchange for operating lease liabilities | $ 3,393 | $ 32,006 |
Leases - Weighted Average Opera
Leases - Weighted Average Operating Lease Term And Discount Rate (Detail) | Mar. 31, 2020 | Mar. 31, 2019 |
Leases [Abstract] | ||
Weighted-average remaining lease term | 10 years 3 months 18 days | 9 years 6 months |
Weighted-average discount rate | 3.17% | 3.17% |
Leases - Future Minimum Rental
Leases - Future Minimum Rental Payments For Operating Leases (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Leases [Abstract] | ||
2020 | $ 3,412 | |
2021 | 4,428 | |
2022 | 4,089 | |
2023 | 3,410 | |
2024 | 3,130 | |
Thereafter | 17,337 | |
Total | 35,806 | |
Discount for present value of expected cash flows | (5,799) | |
Lease liability at March 31, 2020 | $ 30,007 | $ 27,540 |
Deposits - Summary of Balances
Deposits - Summary of Balances of Deposits (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Deposits [Abstract] | ||
Noninterest-bearing demand | $ 1,883,143 | $ 1,832,665 |
Interest-bearing demand | 1,243,192 | 1,242,274 |
Savings | 1,857,684 | 1,851,549 |
Time certificates, $250,000 or more | 111,262 | 129,061 |
Other time certificates | 307,417 | 311,445 |
Total deposits | $ 5,402,698 | $ 5,366,994 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Schedule Of Deposits [Line Items] | ||
Overdrawn deposit balances classified as consumer loans | $ 1,543 | $ 1,550 |
California | ||
Schedule Of Deposits [Line Items] | ||
Certificate of deposits, included in time certificates, over $250,000 | $ 30,000 | $ 30,000 |
Commitments and Contingencies -
Commitments and Contingencies - Summary of Bank's Commitments and Contingent Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Real estate construction loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | $ 204,170 | $ 222,998 |
Real estate mortgage loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 189,921 | 188,959 |
Standby letters of credit | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 12,084 | 12,014 |
Commercial | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 360,793 | 363,793 |
Consumer loans | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 541,848 | 533,576 |
Deposit account overdraft privilege | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | $ 109,752 | $ 110,402 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 5 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2020 | Dec. 31, 2019 | Nov. 12, 2019 | |
Class of Stock [Line Items] | |||||
Cash dividends received | $ 26,754 | $ 8,114 | |||
Repurchase of common stock (in shares) | 1,525,000 | ||||
Shares repurchased as a percentage of total shares outstanding | 5.00% | ||||
Repurchase of common stock | 17,295 | 1,035 | |||
Market value of shares repurchased under equity compensation plans | $ 148 | $ 647 | |||
Minimum | |||||
Class of Stock [Line Items] | |||||
Company's common stock in lieu of cash to exercise options to purchase shares (in shares) | 133 | 91 | |||
2007 Stock Repurchase Plan | |||||
Class of Stock [Line Items] | |||||
Cumulative number of shares repurchased (in shares) | 0 | ||||
Repurchase of common stock (in shares) | 553,869 | ||||
Repurchase of common stock | $ 17,139 | ||||
Stock repurchase program cumulative number of shares repurchased during the period (in shares) | 0 | ||||
Common Stock | |||||
Class of Stock [Line Items] | |||||
Repurchase of common stock (in shares) | 558,670 | 26,159 | |||
Repurchase of common stock | $ 9,962 | $ 466 | |||
Common Stock | Minimum | |||||
Class of Stock [Line Items] | |||||
Company's common stock in lieu of cash to exercise options to purchase shares (in shares) | 4,668 | ||||
Market value of shares repurchased under equity compensation plans | $ 153 | ||||
Common Stock | Maximum | |||||
Class of Stock [Line Items] | |||||
Company's common stock in lieu of cash to exercise options to purchase shares (in shares) | 26,068 | ||||
Market value of shares repurchased under equity compensation plans | $ 1,036 |
Stock Options and Other Equit_3
Stock Options and Other Equity-Based Incentive Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | Apr. 16, 2019 | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Weighted-average remaining contractual term (in years) | 1 year 1 month 6 days | ||
Number of units released | 0 | ||
Number of units increased | 76,851 | ||
Restricted Stock Units (RSUs) | Service Condition Vesting RSUs | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Number of units outstanding expected to vest (in shares) | 68,676 | 68,597 | |
Pre-tax compensation costs | $ 1,537,782 | ||
Number of units released | 362 | ||
Restricted Stock Units (RSUs) | Market Plus Service Condition Vesting RSUs | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Number of units outstanding expected to vest (in shares) | 51,234 | 51,312 | |
Weighted-average remaining contractual term (in years) | 1 year 4 months 24 days | ||
Pre-tax compensation costs | $ 759,307 | ||
Number of units released | 0 | ||
2019 Plan | |||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | |||
Aggregate number of shares of TriCo's common stock issued (in shares) | 1,500,000 |
Stock Options and Other Equit_4
Stock Options and Other Equity-Based Incentive Instruments - Stock Option Activity (Detail) - $ / shares | 3 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Options outstanding at December 31, 2019 (in shares) | 160,500 | |
Options granted (in shares) | 0 | |
Options exercised (in shares) | (8,000) | |
Options forfeited (in shares) | 0 | |
Options outstanding at March 31, 2020 (in shares) | 152,500 | |
Share based compensation arrangements by share based payment award options outstanding option price per share of options granted (in USD per share) | $ 0 | |
Share based compensation arrangements by share based payment award options outstanding option price per share of options forfeited (in USD per share) | 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||
Weighted Average Exercise Price at December 31, 2019 (in USD per share) | 17.60 | |
Weighted Average Exercise Price of Options Granted (in USD per share) | 0 | |
Weighted Average Exercise Price of Options Exercised (in USD per share) | 18.50 | |
Weighted Average Exercise Price of Options Forfeited (in USD per share) | 0 | |
Weighted Average Exercise Price at March 31, 2020 (in USD per share) | 17.55 | |
Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Share based compensation arrangements by share based payment award options outstanding option price per share (in USD per share) | 14.54 | $ 14.54 |
Share based compensation arrangements by share based payment award options outstanding option price per share of options exercised (in USD per share) | 17.54 | |
Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Share based compensation arrangements by share based payment award options outstanding option price per share (in USD per share) | 23.21 | $ 23.21 |
Share based compensation arrangements by share based payment award options outstanding option price per share of options exercised (in USD per share) | $ 19.46 |
Stock Options and Other Equit_5
Stock Options and Other Equity-Based Incentive Instruments - Summary of Options Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Number of options (in shares) | 152,500 | 160,500 |
Weighted average exercise price (in USD per share) | $ 17.55 | $ 17.60 |
Intrinsic value (in thousands) | $ 1,871 | |
Weighted average remaining contractual term (in years) | 2 years 7 months 6 days | |
Currently Exercisable | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Number of options (in shares) | 152,500 | |
Weighted average exercise price (in USD per share) | $ 17.55 | |
Intrinsic value (in thousands) | $ 1,871 | |
Weighted average remaining contractual term (in years) | 2 years 7 months 6 days | |
Currently Not Exercisable | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Number of options (in shares) | 0 | |
Weighted average exercise price (in USD per share) | $ 0 | |
Intrinsic value (in thousands) | $ 0 | |
Weighted average remaining contractual term (in years) | 0 years |
Stock Options and Other Equit_6
Stock Options and Other Equity-Based Incentive Instruments - Restricted Stock Unit (RSU) Activity (Detail) | 3 Months Ended |
Mar. 31, 2020shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
RSUs released (in shares) | 0 |
Restricted Stock Units (RSUs) | Service Condition Vesting RSUs | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Outstanding at December 31, 2019 (in shares) | 68,597 |
RSUs granted (in shares) | 0 |
RSUs added through dividend and performance credits (in shares) | 521 |
RSUs released (in shares) | (362) |
RSUs forfeited/expired (in shares) | (80) |
Outstanding at March 31, 2020 (in shares) | 68,676 |
Restricted Stock Units (RSUs) | Market Plus Service Condition Vesting RSUs | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Outstanding at December 31, 2019 (in shares) | 51,312 |
RSUs granted (in shares) | 0 |
RSUs added through dividend and performance credits (in shares) | 0 |
RSUs released (in shares) | 0 |
RSUs forfeited/expired (in shares) | 78 |
Outstanding at March 31, 2020 (in shares) | 51,234 |
Non-interest Income and Expen_3
Non-interest Income and Expense - Components of Non-Interest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Schedule Of Other Noninterest Income And Expense [Line Items] | ||
Total service charges and fees | $ 9,126 | $ 9,070 |
Increase in cash value of life insurance | 720 | 775 |
Asset management and commission income | 916 | 642 |
Gain on sale of loans | 891 | 412 |
Lease brokerage income | 193 | 220 |
Sale of customer checks | 124 | 140 |
Gain on sale of investment securities | 0 | 0 |
Gain on marketable equity securities | 47 | 36 |
Other | (197) | 508 |
Total other non-interest income | 2,694 | 2,733 |
Total non-interest income | 11,820 | 11,803 |
ATM and Interchange Fees | ||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||
Total service charges and fees | 5,111 | 4,581 |
Service Charges on Deposit Accounts | ||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||
Total service charges and fees | 4,046 | 3,880 |
Other Service Fees | ||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||
Total service charges and fees | 758 | 771 |
Mortgage Banking Service Fees | ||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||
Total service charges and fees | 469 | 483 |
Change in Value of Mortgage Servicing Rights | ||
Schedule Of Other Noninterest Income And Expense [Line Items] | ||
Total service charges and fees | $ (1,258) | $ (645) |
Non-interest Income and Expen_4
Non-interest Income and Expense - Components of Non Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Other Income and Expenses [Abstract] | ||
Base salaries, net of deferred loan origination costs | $ 17,623 | $ 16,757 |
Incentive compensation | 3,101 | 2,567 |
Benefits and other compensation costs | 6,548 | 5,804 |
Total salaries and benefits expense | 27,272 | 25,128 |
Occupancy | 3,875 | 3,774 |
Data processing and software | 3,367 | 3,349 |
Equipment | 1,512 | 1,867 |
Intangible amortization | 1,431 | 1,431 |
Advertising | 665 | 1,331 |
ATM and POS network charges | 1,373 | 1,323 |
Professional fees | 703 | 839 |
Telecommunications | 725 | 797 |
Regulatory assessments and insurance | 95 | 511 |
Postage | 290 | 310 |
Operational losses | 221 | 225 |
Courier service | 331 | 270 |
Gain on sale of foreclosed assets | (41) | (99) |
Loss on disposal of fixed assets | 0 | 24 |
Other miscellaneous expense | 3,000 | 4,372 |
Total other non-interest expense | 17,547 | 20,324 |
Total non-interest expense | $ 44,819 | $ 45,452 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Earnings Per Share [Abstract] | ||
Net income | $ 16,121 | $ 22,726 |
Average number of common shares outstanding (in shares) | 30,395 | 30,424 |
Effect of dilutive stock options and restricted stock (in shares) | 128 | 234 |
Average number of common shares outstanding used to calculate diluted earnings per share (in shares) | 30,523 | 30,658 |
Options excluded from diluted earnings per share because the effect of these options was antidilutive (in shares) | 0 | 0 |
Comprehensive Income - Componen
Comprehensive Income - Components of Other Comprehensive Income (Loss) and Related Tax Effects (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Equity [Abstract] | ||
Unrealized holding gains (losses) on available for sale securities before reclassifications | $ (29,561) | $ 12,710 |
Tax effect | 8,739 | (3,758) |
Unrealized holding gains (losses) on available for sale securities, net of tax | (20,822) | 8,952 |
Change in unfunded status of the supplemental retirement plans before reclassifications | 448 | (89) |
Amounts reclassified out of accumulated other comprehensive income (loss): | ||
Amortization of prior service cost | (14) | (13) |
Amortization of actuarial losses | 478 | 102 |
Total amounts reclassified out of accumulated other comprehensive income (loss) | 464 | 89 |
Change in unfunded status of the supplemental retirement plans after reclassifications | 912 | 0 |
Tax effect | 0 | 0 |
Change in unfunded status of the supplemental retirement plans, net of tax | 912 | 0 |
Other comprehensive income (loss) | $ (19,910) | $ 8,952 |
Comprehensive Income - Compon_2
Comprehensive Income - Components of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), net of tax | $ (25,132) | $ (5,222) |
Net Unrealized Loss on Available for Sale Securities | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss, before tax | (26,174) | 3,387 |
Accumulated other comprehensive loss, tax effect | 7,738 | (1,001) |
Accumulated other comprehensive income (loss), net of tax | (18,436) | 2,386 |
Unfunded Status of Supplemental Retirement Plans | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss, before tax | (11,193) | (11,193) |
Accumulated other comprehensive loss, tax effect | 3,309 | 3,309 |
Accumulated other comprehensive income (loss), net of tax | (7,884) | (7,884) |
Joint Beneficiary Agreement Liability | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss, before tax | 1,188 | 276 |
Accumulated other comprehensive loss, tax effect | 0 | 0 |
Accumulated other comprehensive income (loss), net of tax | $ 1,188 | $ 276 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2020USD ($)investment_security | |
Fair Value Disclosures [Abstract] | |
Number of investment securities classified as level 3 (in investment securities) | investment_security | 0 |
Carrying value of loans fully charged-off | $ | $ 0 |
Fair Value Measurement - Record
Fair Value Measurement - Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value Measurements on Recurring Basis - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 1,012,869 | $ 964,563 |
Marketable equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 3,007 | 2,960 |
Obligations of U.S. government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 469,218 | 472,980 |
Obligations of states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 114,125 | 109,601 |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,575 | 2,532 |
Asset backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 416,081 | 365,025 |
Loans Held For Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,695 | 5,265 |
Mortgage Servicing Rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 5,168 | 6,200 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 3,007 | 2,960 |
Level 1 | Marketable equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 3,007 | 2,960 |
Level 1 | Obligations of U.S. government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 1 | Obligations of states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 1 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 1 | Asset backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 1 | Loans Held For Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 1 | Mortgage Servicing Rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,004,694 | 955,403 |
Level 2 | Marketable equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 2 | Obligations of U.S. government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 469,218 | 472,980 |
Level 2 | Obligations of states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 114,125 | 109,601 |
Level 2 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,575 | 2,532 |
Level 2 | Asset backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 416,081 | 365,025 |
Level 2 | Loans Held For Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,695 | 5,265 |
Level 2 | Mortgage Servicing Rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 5,168 | 6,200 |
Level 3 | Marketable equity securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | |
Level 3 | Obligations of U.S. government agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 3 | Obligations of states and political subdivisions | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 3 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 3 | Asset backed securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 3 | Loans Held For Sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 0 | 0 |
Level 3 | Mortgage Servicing Rights | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 5,168 | $ 6,200 |
Fair Value Measurement - Reconc
Fair Value Measurement - Reconciliation of Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) on Recurring Basis (Detail) - Mortgage Servicing Rights - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning Balance | $ 6,200 | $ 7,098 |
Transfers into (out of) Level 3 | 0 | 0 |
Change Included in Earnings | (1,258) | (645) |
Issuances | 226 | 119 |
Ending Balance | $ 5,168 | $ 6,572 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information about Recurring Level 3 Fair Value Measurements (Detail) - Mortgage Servicing Rights $ in Thousands | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Mortgages servicing rights, fair value | $ 5,168 | $ 6,200 |
Minimum | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.07 | 0.06 |
Minimum | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.10 | 0.10 |
Maximum | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.42 | 0.420 |
Maximum | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.14 | 0.14 |
Weighted Average | Valuation Technique, Discounted Cash Flow | Measurement Input, Constant Prepayment Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.11 | 0.110 |
Weighted Average | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input | 0.12 | 0.12 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Foreclosed assets (Residential real estate) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | $ 417 | ||
Individually evaluated loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | $ 105 | 1,055 | |
Fair Value Nonrecurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | $ 426 | 1,472 | |
Total Gains/(Losses) | (197) | (679) | |
Fair Value Nonrecurring Basis | Foreclosed assets (Residential real estate) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 417 | ||
Total Gains/(Losses) | (27) | ||
Fair Value Nonrecurring Basis | Individually evaluated loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 105 | 212 | 1,055 |
Total Gains/(Losses) | (107) | (197) | (652) |
Fair Value Nonrecurring Basis | Foreclosed Assets | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 214 | ||
Total Gains/(Losses) | 0 | ||
Fair Value Nonrecurring Basis | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | |
Fair Value Nonrecurring Basis | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 0 | 0 | |
Fair Value Nonrecurring Basis | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 426 | 1,472 | |
Fair Value Nonrecurring Basis | Level 3 | Foreclosed assets (Residential real estate) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | 417 | ||
Fair Value Nonrecurring Basis | Level 3 | Individually evaluated loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | $ 105 | 212 | $ 1,055 |
Fair Value Nonrecurring Basis | Level 3 | Foreclosed Assets | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Total assets measured at fair value | $ 214 |
Fair Value Measurement - Quan_2
Fair Value Measurement - Quantitative Information about (Level 3) Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Foreclosed assets (Residential real estate) | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 417 | |
Individually evaluated loans | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 105 | $ 1,055 |
Fair Value Measurement - Estima
Fair Value Measurement - Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Financial assets: | ||
Cash and due from banks | $ 95,364 | $ 92,816 |
Cash at Federal Reserve and other banks | 90,102 | 183,691 |
Securities held to maturity | 359,770 | 375,606 |
Financial liabilities: | ||
Other borrowings | 19,309 | 18,454 |
Junior subordinated debt | 57,323 | 57,232 |
Level 3 | Overdraft Privilege Commitments | ||
Off-balance sheet: | ||
Contract amount, Off-balance sheet | 109,752 | 110,402 |
Level 3 | Standby letters of credit | ||
Off-balance sheet: | ||
Contract amount, Off-balance sheet | 12,084 | 12,014 |
Level 3 | Commitments | ||
Off-balance sheet: | ||
Contract amount, Off-balance sheet | 1,296,732 | 1,309,326 |
Carrying Amount | Level 1 | ||
Financial assets: | ||
Cash and due from banks | 95,364 | 92,816 |
Cash at Federal Reserve and other banks | 90,102 | 183,691 |
Carrying Amount | Level 2 | ||
Financial assets: | ||
Securities held to maturity | 359,770 | 375,606 |
Restricted equity securities | 17,250 | 17,250 |
Financial liabilities: | ||
Deposits | 5,402,698 | 5,366,994 |
Other borrowings | 19,309 | 18,454 |
Carrying Amount | Level 3 | ||
Financial assets: | ||
Loans Receivable, Fair Value Disclosure | 4,321,151 | 4,276,750 |
Financial liabilities: | ||
Junior subordinated debt | 57,323 | 57,232 |
Fair Value | Level 1 | ||
Financial assets: | ||
Cash and due from banks | 95,364 | 92,816 |
Cash at Federal Reserve and other banks | 90,102 | 183,691 |
Fair Value | Level 2 | ||
Financial assets: | ||
Securities held to maturity | 377,442 | 381,525 |
Financial liabilities: | ||
Deposits | 5,401,617 | 5,365,921 |
Other borrowings | 19,309 | 18,454 |
Fair Value | Level 3 | ||
Financial assets: | ||
Loans Receivable, Fair Value Disclosure | 4,307,323 | 4,263,064 |
Financial liabilities: | ||
Junior subordinated debt | 56,254 | 56,297 |
Fair Value | Level 3 | Overdraft Privilege Commitments | ||
Off-balance sheet: | ||
Fair value, Off-balance sheet | 1,098 | 1,104 |
Fair Value | Level 3 | Standby letters of credit | ||
Off-balance sheet: | ||
Fair value, Off-balance sheet | 121 | 120 |
Fair Value | Level 3 | Commitments | ||
Off-balance sheet: | ||
Fair value, Off-balance sheet | $ 12,967 | $ 13,093 |
Regulatory Matters - Actual and
Regulatory Matters - Actual and Required Capital Ratios of Bank (Detail) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Parent | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets) | $ 762,763 | $ 753,200 |
Tier 1 Capital (to Risk Weighted Assets) | 702,007 | 719,809 |
Common Equity Tier 1 Capital (to Risk Weighted Assets) | 646,407 | 664,296 |
Tier 1 Capital (to Average Assets) | $ 702,007 | $ 719,809 |
Total Capital Ratio (to Risk Weighted Assets) | 15.12% | 15.07% |
Tier 1 Capital Ratio (to Risk Weighted Assets) | 13.92% | 14.40% |
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets) | 12.82% | 13.29% |
Tier 1 Capital Ratio (to Average Assets) | 11.22% | 11.55% |
Parent | Basel III Fully Phased In | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement | $ 529,576 | $ 524,944 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement | 428,705 | 424,955 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement | 353,051 | 349,963 |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement | $ 250,216 | $ 249,343 |
Total Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 10.50% | 10.50% |
Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 8.50% | 8.50% |
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 7.00% | 7.00% |
Tier 1 Capital Ratio (to Average Assets), Minimum Capital Requirement | 4.00% | 4.00% |
Tri Countries Bank | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets) | $ 755,893 | $ 748,660 |
Tier 1 Capital (to Risk Weighted Assets) | 695,137 | 715,269 |
Common Equity Tier 1 Capital (to Risk Weighted Assets) | 695,137 | 715,269 |
Tier 1 Capital (to Average Assets) | $ 695,137 | $ 715,269 |
Total Capital Ratio (to Risk Weighted Assets) | 14.99% | 14.98% |
Tier 1 Capital Ratio (to Risk Weighted Assets) | 13.79% | 14.31% |
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets) | 13.79% | 14.31% |
Tier 1 Capital Ratio (to Average Assets) | 11.11% | 11.47% |
Total Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions | $ 504,179 | $ 499,770 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions | $ 403,343 | $ 399,816 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | 8.00% |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions | $ 327,716 | $ 324,851 |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Tier 1 Capital (to Average Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions | $ 312,762 | $ 311,672 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Tri Countries Bank | Basel III Fully Phased In | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement | $ 529,388 | $ 524,759 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement | 428,552 | 424,805 |
Common Equity Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement | 352,925 | 349,839 |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement | $ 250,209 | $ 249,337 |
Total Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 10.50% | 10.50% |
Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 8.50% | 8.50% |
Common Equity Tier 1 Capital Ratio (to Risk Weighted Assets), Minimum Capital Requirement | 7.00% | 7.00% |
Tier 1 Capital Ratio (to Average Assets), Minimum Capital Requirement | 4.00% | 4.00% |
Uncategorized Items - tcbk-2020
Label | Element | Value |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ (12,983,000) |
Common Stock [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 543,998,000 |
Retained Earnings [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | 354,811,000 |
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (12,983,000) |
AOCI Attributable to Parent [Member] | ||
Stockholders' Equity Attributable to Parent | us-gaap_StockholdersEquity | $ (5,222,000) |