Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 24, 2017 | Jun. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | TCBK | ||
Entity Registrant Name | TRICO BANCSHARES / | ||
Entity Central Index Key | 356,171 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 22,871,154 | ||
Entity Public Float | $ 580,894,777 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Cash and due from banks | $ 92,197 | $ 94,305 |
Cash at Federal Reserve and other banks | 213,415 | 209,156 |
Cash and cash equivalents | 305,612 | 303,461 |
Investment securities: | ||
Available for sale | 550,233 | 404,885 |
Held to maturity | 602,536 | 726,530 |
Restricted equity securities | 16,956 | 16,956 |
Loans held for sale | 2,998 | 1,873 |
Total loans, net of unamortized deferred loan fees and discounts | 2,759,593 | 2,522,937 |
Allowance for loan losses | (32,503) | (36,011) |
Total loans, net | 2,727,090 | 2,486,926 |
Foreclosed assets, net | 3,986 | 5,369 |
Premises and equipment, net | 48,406 | 43,811 |
Cash value of life insurance | 95,912 | 94,560 |
Accrued interest receivable | 12,027 | 10,786 |
Goodwill | 64,311 | 63,462 |
Other intangible assets, net | 6,563 | 5,894 |
Mortgage servicing rights | 6,595 | 7,618 |
Other assets | 74,743 | 48,591 |
Total assets | 4,517,968 | 4,220,722 |
Deposits: | ||
Noninterest-bearing demand | 1,275,745 | 1,155,695 |
Interest-bearing | 2,619,815 | 2,475,571 |
Total deposits | 3,895,560 | 3,631,266 |
Accrued interest payable | 818 | 774 |
Reserve for unfunded commitments | 2,719 | 2,475 |
Other liabilities | 67,364 | 65,293 |
Other borrowings | 17,493 | 12,328 |
Junior subordinated debt | 56,667 | 56,470 |
Total liabilities | 4,040,621 | 3,768,606 |
Commitments and contingencies (Note 18) | ||
Shareholders' equity: | ||
Common stock, no par value: 50,000,000 shares authorized; issued and outstanding: 22,867,802 at December 31, 2016 22,775,173 at December 31, 2015 | 252,820 | 247,587 |
Retained earnings | 232,440 | 206,307 |
Accumulated other comprehensive income (loss), net of tax | (7,913) | (1,778) |
Total shareholders' equity | 477,347 | 452,116 |
Total liabilities and shareholders' equity | $ 4,517,968 | $ 4,220,722 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 | Aug. 21, 2007 |
Statement of Financial Position [Abstract] | |||
Common stock, no par value | |||
Common stock, shares authorized | 50,000,000 | 50,000,000 | |
Common stock, shares issued | 22,867,802 | 22,775,173 | |
Common stock, shares outstanding | 22,867,802 | 22,775,173 | 15,814,662 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest and dividend income: | |||
Loans, including fees | $ 141,086 | $ 131,836 | $ 103,887 |
Debt securities: | |||
Taxable | 25,397 | 25,303 | 14,753 |
Tax exempt | 3,881 | 1,509 | 505 |
Dividends | 2,181 | 2,118 | 837 |
Interest bearing cash at Federal Reserve and other banks | 1,163 | 648 | 1,133 |
Total interest and dividend income | 173,708 | 161,414 | 121,115 |
Interest expense: | |||
Deposits | 3,483 | 3,434 | 3,274 |
Other borrowings | 9 | 4 | 4 |
Junior subordinated debt | 2,229 | 1,978 | 1,403 |
Total interest expense | 5,721 | 5,416 | 4,681 |
Net interest income | 167,987 | 155,998 | 116,434 |
Benefit from reversal of previously provided loan losses | (5,970) | (2,210) | (4,045) |
Net interest income after provision for loan losses | 173,957 | 158,208 | 120,479 |
Noninterest income: | |||
Service charges and fees | 33,226 | 32,080 | 24,236 |
Gain on sale of loans | 4,037 | 3,064 | 2,032 |
Commissions on sale of non-deposit investment products | 2,329 | 3,349 | 2,995 |
Increase in cash value of life insurance | 2,717 | 2,786 | 1,953 |
Other | 2,254 | 4,068 | 3,300 |
Total noninterest income | 44,563 | 45,347 | 34,516 |
Noninterest expense: | |||
Salaries and related benefits | 80,724 | 71,405 | 57,544 |
Other | 65,273 | 59,436 | 52,835 |
Total noninterest expense | 145,997 | 130,841 | 110,379 |
Income before income taxes | 72,523 | 72,714 | 44,616 |
Provision for income taxes | 27,712 | 28,896 | 18,508 |
Net income | $ 44,811 | $ 43,818 | $ 26,108 |
Earnings per share: | |||
Basic | $ 1.96 | $ 1.93 | $ 1.47 |
Diluted | $ 1.94 | $ 1.91 | $ 1.46 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||||||||||
Net income | $ 12,533 | $ 12,199 | $ 9,405 | $ 10,674 | $ 11,422 | $ 12,694 | $ 11,366 | $ 8,336 | $ 44,811 | $ 43,818 | $ 26,108 |
Other comprehensive (loss) income, net of tax: | |||||||||||
Unrealized holding losses on securities arising during the period | (6,384) | (1,098) | (94) | ||||||||
Change in minimum pension liability | 592 | 1,246 | (4,114) | ||||||||
Change in joint beneficiary agreement liability | (343) | 277 | 148 | ||||||||
Other comprehensive (loss) income | (6,135) | 425 | (4,060) | ||||||||
Comprehensive income | $ 38,676 | $ 44,243 | $ 22,048 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning balance at Dec. 31, 2013 | $ 250,946,000 | $ 89,356,000 | $ 159,733,000 | $ 1,857,000 |
Beginning balance, shares at Dec. 31, 2013 | 16,076,662 | |||
Net income | 26,108,000 | 26,108,000 | ||
Other comprehensive income (loss) | (4,060,000) | (4,060,000) | ||
Stock option vesting | 965,000 | $ 965,000 | ||
RSU vesting | 126,000 | 126,000 | ||
PSU vesting | 42,000 | 42,000 | ||
Stock options exercised | 2,875,000 | $ 2,875,000 | ||
Stock options exercised, shares | 166,020 | |||
Tax effect of stock options exercised | 225,000 | $ 225,000 | ||
Issuance of common stock, value | 151,303,000 | $ 151,303,000 | ||
Issuance of common stock, shares | 6,575,550 | |||
Repurchase of common stock, value | (2,551,000) | $ (574,000) | (1,977,000) | |
Repurchase of common stock, shares | (103,268) | |||
Dividends paid | (7,807,000) | (7,807,000) | ||
Ending balance at Dec. 31, 2014 | 418,172,000 | $ 244,318,000 | 176,057,000 | (2,203,000) |
Ending balance, shares at Dec. 31, 2014 | 22,714,964 | |||
Net income | 43,818,000 | 43,818,000 | ||
Other comprehensive income (loss) | 425,000 | 425,000 | ||
Stock option vesting | 734,000 | $ 734,000 | ||
RSU vesting | 457,000 | 457,000 | ||
PSU vesting | 179,000 | 179,000 | ||
Stock options exercised | 3,116,000 | $ 3,116,000 | ||
Stock options exercised, shares | 154,500 | |||
Tax effect of stock options exercised | 83,000 | $ 83,000 | ||
RSUs released | 12,064 | |||
Tax benefit from release of RSUs | 15,000 | 15,000 | ||
Repurchase of common stock, value | (2,868,000) | $ (1,149,000) | (1,719,000) | |
Repurchase of common stock, shares | (106,355) | |||
Dividends paid | (11,849,000) | (11,849,000) | ||
Ending balance at Dec. 31, 2015 | $ 452,116,000 | $ 247,587,000 | 206,307,000 | (1,778,000) |
Ending balance, shares at Dec. 31, 2015 | 22,775,173 | 22,775,173 | ||
Net income | $ 44,811,000 | 44,811,000 | ||
Other comprehensive income (loss) | (6,135,000) | (6,135,000) | ||
Stock option vesting | 580,000 | $ 580,000 | ||
RSU vesting | 616,000 | 616,000 | ||
PSU vesting | 271,000 | 271,000 | ||
Stock options exercised | $ 6,506,000 | $ 6,506,000 | ||
Stock options exercised, shares | 336,900 | 336,900 | ||
Tax effect of stock options exercised | $ 154,000 | $ 154,000 | ||
RSUs released | 20,529 | |||
Tax benefit from release of RSUs | 1,000 | 1,000 | ||
Repurchase of common stock, value | (7,878,000) | $ (2,895,000) | (4,983,000) | |
Repurchase of common stock, shares | (264,800) | |||
Dividends paid | (13,695,000) | (13,695,000) | ||
Ending balance at Dec. 31, 2016 | $ 477,347,000 | $ 252,820,000 | $ 232,440,000 | $ (7,913,000) |
Ending balance, shares at Dec. 31, 2016 | 22,867,802 | 22,867,802 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Dividends paid, per share | $ 0.60 | $ 0.52 | $ 0.44 |
Retained Earnings [Member] | |||
Dividends paid, per share | $ 0.60 | $ 0.52 | $ 0.44 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||
Net income | $ 44,811 | $ 43,818 | $ 26,108 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation of premises and equipment, and amortization | 6,474 | 5,906 | 5,735 |
Amortization of intangible assets | 1,377 | 1,157 | 446 |
(Benefit from) provision for loan losses | (5,970) | (2,210) | (4,045) |
Amortization of investment securities premium, net | 4,926 | 3,458 | 970 |
Originations of loans for resale | (142,619) | (111,640) | (49,241) |
Proceeds from sale of loans originated for resale | 144,062 | 115,469 | 49,394 |
Gain on sale of loans | (4,037) | (3,064) | (2,032) |
Change in market value of mortgage servicing rights | 2,184 | 701 | 1,301 |
Provision for losses on foreclosed assets | 140 | 502 | 208 |
Gain on sale of foreclosed assets | (262) | (991) | (2,153) |
Provision for losses on fixed assets | 782 | ||
Loss (gain) on disposal of fixed assets | 147 | 129 | (49) |
Increase in cash value of life insurance | (2,717) | (2,786) | (1,953) |
Gain on life insurance death benefit | (238) | (155) | |
Equity compensation vesting expense | 1,467 | 1,370 | 1,133 |
Equity compensation tax effect | (155) | 68 | (225) |
Deferred income tax expense (benefit) | 3,190 | 681 | (993) |
Change in: | |||
Reserve for unfunded commitments | 244 | 330 | (395) |
Interest receivable | (1,241) | (1,511) | (619) |
Interest payable | 44 | (204) | (67) |
Other assets and liabilities, net | (4,383) | 3,789 | 3,894 |
Net cash from operating activities | 48,226 | 54,817 | 27,417 |
Investing activities: | |||
Proceeds from maturities of securities available for sale | 71,684 | 33,552 | 24,016 |
Proceeds from sale of securities available for sale | 2 | 14,130 | |
Purchases of securities available for sale | (247,717) | (341,303) | |
Proceeds from maturities of securities held to maturity | 121,666 | 93,784 | 34,172 |
Purchases of securities held to maturity | (146,100) | (280,692) | |
(Purchase) redemption of restricted equity securities, net | (2,415) | ||
Loan origination and principal collections, net | (251,479) | (244,018) | (82,079) |
Loans purchased | (22,503) | (32,017) | |
Proceeds from sale of loans other than loans originated for resale | 37,880 | ||
Proceeds from sale of premises and equipment | 1,682 | 8 | 121 |
Improvement of foreclosed assets | (195) | (462) | |
Proceeds from sale of other real estate owned | 4,010 | 5,449 | 9,762 |
Purchases of premises and equipment | (10,930) | (5,489) | (4,665) |
Cash received from acquisition, net | 156,316 | 141,405 | |
Net cash used by investing activities | (139,391) | (604,310) | (178,724) |
Financing activities: | |||
Net increase in deposits | 103,063 | 250,843 | 167,984 |
Net change in other borrowings | 5,165 | 3,052 | 2,941 |
Equity compensation tax effect | 155 | (68) | 225 |
Repurchase of common stock | (1,890) | (412) | (292) |
Dividends paid | (13,695) | (11,849) | (7,807) |
Exercise of stock options | 518 | 660 | 616 |
Net cash from financing activities | 93,316 | 242,226 | 163,667 |
Net change in cash and cash equivalents | 2,151 | (307,267) | 12,360 |
Cash and cash equivalents and beginning of year | 303,461 | 610,728 | 598,368 |
Cash and cash equivalents at end of year | 305,612 | 303,461 | 610,728 |
Supplemental disclosure of noncash activities: | |||
Unrealized loss on securities available for sale | (11,015) | (1,895) | (162) |
Loans transferred to foreclosed assets | 2,505 | 5,240 | 5,291 |
Due to broker | 17,072 | ||
Market value of shares tendered in-lieu of cash to pay for exercise of options and/or related taxes | 5,988 | 2,868 | 2,551 |
Supplemental disclosure of cash flow activity: | |||
Cash paid for interest expense | 5,677 | 5,620 | 4,641 |
Cash paid for income taxes | 27,575 | $ 24,315 | 22,685 |
Assets acquired in acquisition | 161,231 | 978,682 | |
Liabilities assumed in acquisition | $ 161,231 | $ 827,372 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 1 – 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 26 California counties. Tri Counties Bank currently operates from 58 traditional branches and 10 in-store 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. 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 $1,702,000 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. Significant Group Concentration of Credit Risk The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout the northern San Joaquin Valley, the Sacramento Valley and northern mountain regions of 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. Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash on hand, amounts due from banks, and federal funds sold. Net cash flows are reported for loan and deposit transactions and other borrowings. Investment Securities The Company classifies its debt and marketable equity securities into one of three categories: trading, available for sale or held to maturity. Trading securities are bought and held principally for the purpose of selling in the near term. Held to maturity securities are those securities which the Company has the ability and intent to hold until maturity. These securities are carried at cost adjusted for amortization of premium and accretion of discount, computed by the effective interest method over their contractual lives. All other securities not included in trading or held to maturity are classified as available for sale. Available for sale securities are recorded at fair value. Unrealized gains and losses, net of the related tax effect, on available for sale securities are reported as a separate component of other accumulated comprehensive income in shareholders’ equity until realized. Premiums and discounts are amortized or accreted over the life of the related investment security as an adjustment to yield using the effective interest method. Dividend and interest income are recognized when earned. Realized gains and losses are derived from the amortized cost of the security sold. During the year ended December 31, 2016 and throughout 2015, the Company did not have any securities classified as trading. The Company assesses other-than-temporary impairment (“OTTI”) based on whether it intends to sell a security or if it is likely that the Company would be required to sell the security before recovery of the amortized cost basis of the investment, which may be maturity. For debt securities, if we intend to sell the security or it is more likely than not that we will be required to sell the security before recovering its cost basis, the entire impairment loss would be recognized in earnings as an OTTI. If we do not intend to sell the security and it is not likely that we will be required to sell the security but we do not expect to recover the entire amortized cost basis of the security, only the portion of the impairment loss representing credit losses would be recognized in earnings. The credit loss on a security is measured as the difference between the amortized cost basis and the present value of the cash flows expected to be collected. Projected cash flows are discounted by the original or current effective interest rate depending on the nature of the security being measured for potential OTTI. The remaining impairment related to all other factors, the difference between the present value of the cash flows expected to be collected and fair value, is recognized as a charge to other comprehensive income (“OCI”). Impairment losses related to all other factors are presented as separate categories within OCI. The accretion of the amount recorded in OCI increases the carrying value of the investment and does not affect earnings. If there is an indication of additional credit losses the security is re-evaluated Restricted Equity Securities Restricted equity securities represent the Company’s investment in the stock of the Federal Home Loan Bank of San Francisco (“FHLB”) and are carried at par value, which reasonably approximates its fair value. While technically these are considered equity securities, there is no market for the FHLB stock. Therefore, the shares are considered as restricted investment securities. Management periodically evaluates FHLB stock for other-than-temporary impairment. Management’s determination of whether these investments are impaired is based on its assessment of the ultimate recoverability of cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as (1) the significance of any decline in net assets of the FHLB as compared to the capital stock amount for the FHLB and the length of time this situation has persisted, (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB, (3) the impact of legislative and regulatory changes on institutions and, accordingly, the customer base of the FHLB, and (4) the liquidity position of the FHLB. As a member of the FHLB system, the Bank is required to maintain a minimum level of investment in FHLB stock based on specific percentages of its outstanding mortgages, total assets, or FHLB advances. The Bank may request redemption at par value of any stock in excess of the minimum required investment. Stock redemptions are at the discretion of the FHLB. Loans Held for Sale Loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by aggregate outstanding commitments from investors of current investor yield requirements. Net unrealized losses are recognized through a valuation allowance by charges to noninterest income. Mortgage loans held for sale are generally sold with the mortgage servicing rights retained by the Company. Gains or losses on the sale of loans that are held for sale are recognized at the time of the sale and determined by the difference between net sale proceeds and the net book value of the loans less the estimated fair value of any retained mortgage servicing rights. Loans and Allowance for Loan Losses Loans originated by the Company, i.e., not purchased or acquired in a business combination, are referred to as originated loans. Originated loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal amount outstanding, net of deferred loan fees and costs. Loan origination and commitment fees and certain direct loan origination costs are deferred, and the net amount is amortized as an adjustment of the related loan’s yield over the actual life of the loan. Originated loans on which the accrual of interest has been discontinued are designated as nonaccrual loans. Originated 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 an originated loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is 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. An allowance for loan losses for originated loans is established through a provision for loan losses charged to expense. The allowance is maintained at a level which, in Management’s judgment, is adequate to absorb probable incurred credit losses inherent in the loan portfolio as of the balance sheet date. Originated loans and deposit related overdrafts are charged against the allowance for loan losses when Management believes that the collectability of the principal is unlikely or, with respect to consumer installment loans, according to an established delinquency schedule. The allowance is an amount that Management believes will be adequate to absorb probable incurred losses inherent in existing loans, based on evaluations of the collectability, impairment and prior loss experience of loans. The evaluations take into consideration such factors as changes in the nature and size of the portfolio, overall portfolio quality, loan concentrations, specific problem loans, and current economic conditions that may affect the borrower’s ability to pay. The Company defines an originated loan as impaired when it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired originated loans are measured based on the present value of expected future cash flows discounted at the loan’s original effective interest rate. As a practical expedient, impairment may be measured based on the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. When the measure of the impaired loan is less than the recorded investment in the loan, the impairment is recorded through a valuation allowance. In situations related to originated loans where, for economic or legal reasons related to a borrower’s financial difficulties, the Company grants a concession for other than an insignificant period of time to the borrower that the Company would not otherwise consider, the related loan is classified as a troubled debt restructuring (TDR). The Company strives to identify borrowers in financial difficulty early and work with them to modify to more affordable terms before their loan reaches nonaccrual status. These modified terms may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. In cases where the Company grants the borrower new terms that result in the loan being classified as a TDR, the Company measures any impairment on the restructuring as noted above for impaired loans. TDR loans are classified as impaired until they are fully paid off or charged off. Loans that are in nonaccrual status at the time they become TDR loans, remain in nonaccrual status until the borrower demonstrates a sustained period of performance which the Company generally believes to be six consecutive months of payments, or equivalent. Otherwise, TDR loans are subject to the same nonaccrual and charge-off Credit risk is inherent in the business of lending. As a result, the Company maintains an allowance for loan losses to absorb probable incurred losses inherent in the Company’s originated loan portfolio. This is maintained through periodic charges to earnings. These charges are included in the Consolidated Statements of Income as provision for loan losses. All specifically identifiable and quantifiable losses are immediately charged off against the allowance. However, for a variety of reasons, not all losses are immediately known to the Company and, of those that are known, the full extent of the loss may not be quantifiable at that point in time. The balance of the Company’s allowance for originated loan losses is meant to be an estimate of these probable incurred losses inherent in the portfolio. The Company formally assesses the adequacy of the allowance for originated loan losses on a quarterly basis. Determination of the adequacy is based on ongoing assessments of the probable risk in the outstanding originated loan portfolio, and to a lesser extent the Company’s originated loan commitments. These assessments include the periodic re-grading re-graded Re-grading The Company’s method for assessing the appropriateness of the allowance for originated loan losses includes specific allowances for impaired originated loans, formula allowance factors for pools of credits, and allowances for changing environmental factors (e.g., interest rates, growth, economic conditions, etc.). Allowance factors for loan pools were based on historical loss experience by product type and prior risk rating. During the three months ended September 30, 2015, the Company modified its methodology used to determine the allowance for home equity lines of credit that are about to exit their revolving period, or have recently entered into their amortization period and are now classified as home equity loans. This change in methodology increased the required allowance for such lines and loans by $859,000, and $459,000, respectively, and represents the increase in estimated incurred losses in these lines and loans as of September 30, 2015 due to higher required contractual principal and interest payments of such lines and loans. Loans purchased or acquired in a business combination are referred to as acquired loans. Acquired loans are valued as of the acquisition date in accordance with Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) Topic 805, Business Combinations 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 310-30, 310-30 310-30 Acquired loans that are not PCI loans are referred to as purchased not credit impaired (PNCI) loans. PNCI loans are accounted for under FASB ASC Topic 310-20, Receivables – Nonrefundable Fees and Other Costs, 310-20, Throughout these financial statements, and in particular in Note 4 and Note 5, when we refer to “Loans” or “Allowance for loan losses” we mean all categories of loans, including Originated, PNCI, PCI – cash basis, and PCI—other. When we are not referring to all categories of loans, we will indicate which we are referring to – Originated, PNCI, PCI – cash basis, or PCI—other. When referring to PNCI and PCI loans we use the terms “nonaccretable difference”, “accretable yield”, or “purchase discount”. Nonaccretable difference is the difference between undiscounted contractual cash flows due and undiscounted cash flows we expect to collect, or put another way, it is the undiscounted contractual cash flows we do not expect to collect. Accretable yield is the difference between undiscounted cash flows we expect to collect and the value at which we have recorded the loan on our financial statements. On the date of acquisition, all purchased loans are recorded on our consolidated financial statements at estimated fair value. Purchase discount is the difference between the estimated fair value of loans on the date of acquisition and the principal amount owed by the borrower, net of charge offs, on the date of acquisition. We may also refer to “discounts to principal balance of loans owed, net of charge-offs”. Discounts to principal balance of loans owed, net of charge-offs is the difference between principal balance of loans owed, net of charge-offs, and loans as recorded on our financial statements. Discounts to principal balance of loans owed, net of charge-offs arise from purchase discounts, and equal the purchase discount on the acquisition date. Loans are also categorized as “covered” or “noncovered”. Covered loans refer to loans covered by a Federal Deposit Insurance Corporation (“FDIC”) loss sharing agreement. Noncovered loans refer to loans not covered by a FDIC loss sharing agreement. 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 less estimated costs to sell at the date of foreclosure, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Any write-downs based on the asset’s fair value less costs to sell at the date of acquisition are charged to the allowance for loan and lease losses. Any recoveries based on the asset’s fair value less estimated costs to sell in excess of the recorded value of the loan at the date of acquisition are recorded to the allowance for loan and lease losses. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed. Revenue and expenses from operations and changes in the valuation allowance are included in other noninterest expense. Gain or loss on sale of foreclosed assets is included in noninterest income. Foreclosed assets that are not subject to a FDIC loss-share agreement are referred to as noncovered foreclosed assets. Foreclosed assets acquired through FDIC-assisted acquisitions that are subject to a FDIC loss-share agreement, and all assets acquired via foreclosure of covered loans are referred to as covered foreclosed assets. Covered foreclosed assets are reported exclusive of expected reimbursement cash flows from the FDIC. Foreclosed covered loan collateral is transferred into covered foreclosed assets at the loan’s carrying value, inclusive of the acquisition date fair value discount. Covered foreclosed assets are initially recorded at estimated fair value less estimated costs to sell on the acquisition date based on similar market comparable valuations less estimated selling costs. Any subsequent valuation adjustments due to declines in fair value will be charged to noninterest expense, and will be mostly offset by noninterest income representing the corresponding increase to the FDIC indemnification asset for the offsetting loss reimbursement amount. Any recoveries of previous valuation adjustments will be credited to noninterest expense with a corresponding charge to noninterest income for the portion of the recovery that is due to the FDIC. Premises and Equipment Land is carried at cost. Land improvements, buildings and equipment, including those acquired under capital lease, are stated at cost less accumulated depreciation and amortization. Depreciation and amortization expenses are computed using the straight-line method over the estimated useful lives of the related assets or lease terms. Asset lives range from 3-10 15-40 Goodwill and Other Intangible Assets Goodwill represents the excess of costs over fair value of net assets of businesses acquired. Goodwill and other intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but instead tested for impairment at least annually. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment. The Company has an identifiable intangible asset consisting of core deposit intangibles (CDI). CDI are amortized over their respective estimated useful lives, and reviewed for impairment. Impairment of Long-Lived Assets and Goodwill Long-lived assets, such as premises and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the consolidated balance sheet. As of December 31 of each year, goodwill is tested for impairment, and is tested for impairment more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. This determination is made at the reporting unit level. The Company may choose to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then goodwill is deemed not to be impaired. However, if the Company concludes otherwise, or if the Company elected not to first assess qualitative factors, then the Company performs the first step of a two-step Mortgage Servicing Rights Mortgage servicing rights (MSR) represent the Company’s right to a future stream of cash flows based upon the contractual servicing fee associated with servicing mortgage loans. Our MSR arise from residential and commercial mortgage loans that we originate and sell, but retain the right to service the loans. The net gain from the retention of the servicing right is included in gain on sale of loans in noninterest income when the loan is sold. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing fees are recorded in noninterest income when earned. The Company accounts for MSR at fair value. The determination of fair value of our MSR requires management judgment because they are not actively traded. The determination of fair value for MSR requires valuation processes which combine the use of discounted cash flow models and extensive analysis of current market data to arrive at an estimate of fair value. The cash flow and prepayment assumptions used in our discounted cash flow model are based on empirical data drawn from the historical performance of our MSR, which we believe are consistent with assumptions used by market participants valuing similar MSR, and from data obtained on the performance of similar MSR. The key assumptions used in the valuation of MSR include mortgage prepayment speeds and the discount rate. These variables can, and generally will, change from quarter to quarter as market conditions and projected interest rates change. The key risks inherent with MSR are prepayment speed and changes in interest rates. The Company uses an independent third party to determine fair value of MSR. Indemnification Asset/Liability The Company accounts for amounts receivable or payable under its loss-share agreements entered into with the FDIC in connection with its purchase and assumption of certain assets and liabilities of Granite as indemnification assets in accordance with FASB ASC Topic 805, Business Combinations Reserve for Unfunded Commitments The reserve for unfunded commitments is established through a provision for losses – unfunded commitments charged to noninterest expense. The reserve for unfunded commitments is an amount that Management believes will be adequate to absorb probable losses inherent in existing commitments, including unused portions of revolving lines of credits and other loans, standby letters of credits, and unused deposit account overdraft privilege. The reserve for unfunded commitments is based on evaluations of the collectability, and prior loss experience of unfunded commitments. The evaluations take into consideration such factors as changes in the nature and size of the loan portfolio, overall loan portfolio quality, loan concentrations, specific problem loans and related unfunded commitments, and current economic conditions that may affect the borrower’s or depositor’s ability to pay. Low Income Housing Tax Credits The Company accounts for low income housing tax credits and the related qualified affordable housing projects using the proportional amortization method. Under the proportional amortization method, the Company amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). Upon entering into a qualified affordable housing project, the Company records, in other liabilities, the entire amount that it has agreed to invest in the project, and an equal amount, in other assets, representing its investment in the project. As the Company disburses cash to satisfy its investment obligation, other liabilities are reduced. Over time, as the tax credits and other tax benefits of the project are realized by the Company, the investment recorded in other assets is reduced using the proportional amortization method. Income Taxes The Company’s accounting for income taxes is based on an asset and liability approach. The Company recognizes the amount of taxes payable or refundable for the current year, and deferred tax assets and liabilities for the future tax consequences that have been recognized in its financial statements or tax returns. The measurement of tax assets and liabilities is based on the provisions of enacted tax laws. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. Interest and/or penalties related to income taxes are reported as a component of noninterest income. Off-Balance In the ordinary course of business, the Company has entered into commitments to extend credit, including commitments under credit card arrangements, commercial letters of credit, and standby letters of credit. Such financial instruments are recorded when they are funded. Geographical Descriptions For the purpose of describing the geographical location of the Company’s loans, the Company has defined northern California as that area of California north of, and including, Stockton; central California as that area of the state south of Stockton, to and including, Bakersfield; and southern California as that area of the state south of Bakersfield. Reclassifications Certain amounts reported in previous consolidated financial statements have been reclassified to conform to the presentation in this report. These reclassifications did not affect previously reported net income or total shareholders’ equity. Recent Accounting Pronouncements FASB issued Accounting Standard Update (ASU) No. 2016-02 , Leases (Topic 842) ASU 2016-2, on-balance ASU 2016-02 2016-02 FASB issued Accounting Standard Update (ASU) No. 2016-09 , Compensation – Stock Compensation (Topic 718). ASU 2016-09, ASU 2016-09 FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) 2016-13 2016-13, 2016-13 available-for-sale 2016-13 2016-13 2016-13 2016-13 FASB issued ASU No. 2016-18, Statement of Cash Flows – Restricted Cash (Topic 230). ASU 2016-18 beginning-of-period end-of-period ASU 2016-18 FASB issued ASU No. 2017-01, Business Combinations – Clarifying the Definition of a Business (Topic 805). ASU 2017-01 ASU 2017-01 ASU 2017-01 FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 350): 2017-04 ASU 2017-04 |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Business Combinations | Note 2—Business Combinations On March 18, 2016, the Bank completed its acquisition of three branch banking offices from Bank of America originally announced October 28, 2015. The acquired branches are located in Arcata, Eureka and Fortuna in Humboldt County on the North Coast of California, and have significant overlap compared to the Company’s then-existing Northern California customer base and branch locations. As a result, these branch acquisitions create potential cost savings and future growth potential. With the levels of capital at the time, the acquisitions fit well into the Company’s growth strategy. Also on March 18, 2016, the electronic customer service and other data processing systems of the acquired branches were converted into the Bank’s systems, and the effect of revenue and expenses from the operations of the acquired branches are included in the results of the Company. The Bank paid a premium of $3,204,000 for deposit relationships with balances of $161,231,000 and loans with balances of $289,000, and received cash of $159,520,000 from Bank of America. The assets acquired and liabilities assumed in the acquisition of these branches were accounted for in accordance with ASC 805 “Business Combinations,” using the acquisition method of accounting and were recorded at their estimated fair values on the March 18, 2016 acquisition date, and the results of operations of the acquired branches are included in the Company’s consolidated statements of income since that date. The excess of the fair value of consideration transferred over total identifiable net assets was recorded as goodwill. The goodwill arising from the acquisition consists largely of the synergies and economies of scale expected from combining the operations of the Company and the acquired branches. $849,000 of the goodwill is deductible for income tax purposes because the acquisition was accounted for as a purchase of assets and assumption of liabilities for tax purposes. The following table discloses the calculation of the fair value of consideration transferred, the total identifiable net assets acquired and the resulting goodwill relating to the acquisition of three branch banking offices and certain deposits from Bank of America on March 18, 2016: (in thousands) March 18, 2016 Fair value of consideration transferred: Cash consideration $ 3,204 Total fair value of consideration transferred 3,204 Asset acquired: Cash and cash equivalents 159,520 Loans 289 Premises and equipment 1,590 Core deposit intangible 2,046 Other assets 141 Total assets acquired 163,586 Liabilities assumed: Deposits 161,231 Total liabilities assumed 161,231 Total net assets acquired 2,355 Goodwill recognized $ 849 A summary of the cash paid and estimated fair value adjustments resulting in the goodwill recorded in the acquisition of three branch banking offices and certain deposits from Bank of America on March 18, 2016 are presented below: (in thousands) March 18, 2016 Cash paid $ 3,204 Cost basis net assets acquired — Fair value adjustments: Loans — Premises and Equipment (309 ) Core deposit intangible (2,046 ) Goodwill $ 849 As part of the acquisition of three branch banking offices from Bank of America, the Company performed a valuation of premises and equipment acquired. This valuation resulted in a $309,000 increase in the net book value of the land and buildings acquired, and was based on current appraisals of such land and buildings. The Company recognized a core deposit intangible of $2,046,000 related to the acquisition of the core deposits. The recorded core deposit intangibles represented approximately 1.50% of the core deposits acquired and will be amortized over their estimated useful lives of 7 years. A valuation of the time deposits acquired was also performed as of the acquisition date. Time deposits were split into similar pools based on size, type of time deposits, and maturity. A discounted cash flow analysis was performed on the pools based on current market rates currently paid on similar time deposits. The valuation resulted in no material fair value discount or premium, and none was recorded. |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 2016 | |
Investments Schedule [Abstract] | |
Investment Securities | Note 3—Investment Securities The amortized cost and estimated fair values of investments in debt and equity securities are summarized in the following tables: December 31, 2016 Amortized Gross Gross Estimated (in thousands) Securities Available for Sale Obligations of U.S. government corporations and agencies $ 434,357 $ 1,949 $ (6,628 ) $ 429,678 Obligations of states and political subdivisions 121,746 267 (4,396 ) 117,617 Marketable equity securities 3,000 — (62 ) 2,938 Total securities available for sale $ 559,103 $ 2,216 $ (11,086 ) $ 550,233 Securities Held to Maturity Obligations of U.S. government corporations and agencies $ 587,982 $ 5,001 $ (4,199 ) $ 588,784 Obligations of states and political subdivisions 14,554 56 (191 ) 14,419 Total securities held to maturity $ 602,536 $ 5,057 $ (4,390 ) $ 603,203 December 31, 2015 Amortized Gross Gross Estimated (in thousands) Securities Available for Sale Obligations of U.S. government corporations and agencies $ 312,917 $ 2,761 $ (1,996 ) $ 313,682 Obligations of states and political subdivisions 86,823 1,428 (33 ) 88,218 Marketable equity securities 3,000 — (15 ) 2,985 Total securities available for sale $ 402,740 $ 4,189 $ (2,044 ) $ 404,885 Securities Held to Maturity Obligations of U.S. government corporations and agencies $ 711,994 $ 8,394 $ (2,882 ) $ 717,506 Obligations of states and political subdivisions 14,536 277 (110 ) 14,703 Total securities held to maturity $ 726,530 $ 8,671 $ (2,992 ) $ 732,209 No investment securities were sold during 2016. Investment securities totaling $2,000 were sold in 2015 resulting in no gain or loss on sale. Investment securities sold during 2014 totaled $14,130,000. Investment securities with an aggregate carrying value of $292,737,000 and $297,547,000 at December 31, 2016 and 2015, respectively, were pledged as collateral for specific borrowings, lines of credit and local agency deposits. The amortized cost and estimated fair value of debt securities at December 31, 2016 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 December 31, 2016, obligations of U.S. government corporations and agencies with a cost basis totaling $1,022,339,000 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 December 31, 2016, the Company estimates the average remaining life of these mortgage-backed securities issued by U.S. government corporations and agencies to be approximately 6.1 years. Average remaining life is defined as the time span after which the principal balance has been reduced by half. Investment Securities (In thousands) Available for Sale Held to Maturity Amortized Estimated Amortized Estimated Due in one year $ 1 $ 1 — — Due after one year through five years 9,392 9,650 $ 1,177 $ 1,185 Due after five years through ten years 14,548 15,132 4,776 4,762 Due after ten years 535,162 525,450 596,583 597,256 Totals $ 559,103 $ 550,233 $ 602,536 $ 603,203 Gross unrealized losses on investment 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 December 31, 2016 Fair Unrealized Fair Unrealized Fair Unrealized (in thousands) Securities Available for Sale: Obligations of U.S. government corporations and agencies $ 370,389 $ (6,628 ) — — $ 370,389 $ (6,628 ) Obligations of states and political subdivisions 90,825 (4,396 ) — — 90,825 (4,396 ) Marketable equity securities 2,938 (62 ) — — 2,938 (62 ) Total securities available-for-sale $ 464,152 $ (11,086 ) — — $ 464,152 $ (11,086 ) Securities Held to Maturity: Obligations of U.S. government corporations and agencies $ 280,497 $ (4,199 ) — — $ 280,497 $ (4,199 ) Obligations of states and political subdivisions 9,984 (191 ) — — 9,984 (191 ) Total securities held-to-maturity $ 290,481 $ (4,390 ) — — $ 290,481 $ (4,390 ) Less than 12 months 12 months or more Total December 31, 2015 Fair Unrealized Fair Unrealized Fair Unrealized (in thousands) Securities Available for Sale: Obligations of U.S. government corporations and agencies $ 193,306 $ (1,996 ) — — $ 193,306 $ (1,996 ) Obligations of states and political subdivisions 6,469 (33 ) — — 6,469 (33 ) Marketable equity securities 2,985 (15 ) — — 2,985 (15 ) Total securities available-for-sale $ 202,760 $ (2,044 ) — — $ 202,760 $ (2,044 ) Securities Held to Maturity: Obligations of U.S. government corporations and agencies $ 198,481 $ (2,882 ) — — $ 198,481 $ (2,882 ) Obligations of states and political subdivisions 497 (11 ) $ 1,121 $ (99 ) 1,618 (110 ) Total securities held-to-maturity $ 198,978 $ (2,893 ) $ 1,121 $ (99 ) $ 200,099 $ (2,992 ) Obligations of U.S. government corporations and agencies: Unrealized losses on investments in obligations of U.S. government corporations and agencies are caused by interest rate increases. 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 December 31, 2016, 62 debt securities representing obligations of U.S. government corporations and agencies had unrealized losses with aggregate depreciation of 1.64% from the Company’s amortized cost basis. Obligations of states and political subdivisions: The unrealized losses on investments in obligations of states and political subdivisions were caused by increases in required yields by investors in these types of securities. 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 December 31, 2016, 107 debt securities representing obligations of states and political subdivisions had unrealized losses with aggregate depreciation of 4.35% from the Company’s amortized cost basis. Marketable equity securities: At December 31, 2016, marketable equity securities had unrealized losses representing aggregate depreciation of 2.07% from the Company’s amortized cost basis. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans | Note 4 – Loans A summary of loan balances follows (in thousands): December 31, 2016 PCI - PCI - Originated PNCI Cash basis Other Total Mortgage loans on real estate: Residential 1-4 $ 229,609 $ 78,935 — $ 1,363 $ 309,907 Commercial 1,484,420 250,037 — 13,460 1,747,917 Total mortgage loan on real estate 1,714,029 328,972 — 14,823 2,057,824 Consumer: Home equity lines of credit 263,590 21,765 2,983 1,377 289,715 Home equity loans 37,074 3,618 — 1,130 41,822 Other 28,167 2,534 — 65 30,766 Total consumer loans 328,831 27,917 2,983 2,572 362,303 Commercial 200,735 12,321 — 3,991 217,047 Construction: Residential 54,613 141 — 675 55,429 Commercial 58,119 8,871 — — 66,990 Total construction 112,732 9,012 — 675 122,419 Total loans, net of deferred loan fees and discounts $ 2,356,327 $ 378,222 $ 2,983 $ 22,061 $ 2,759,593 Total principal balance of loans owed, net of charge-offs $ 2,363,243 $ 388,139 $ 8,280 $ 25,650 $ 2,785,312 Unamortized net deferred loan fees (6,916 ) — — — (6,916 ) Discounts to principal balance of loans owed, net of charge-offs — (9,917 ) (5,297 ) (3,589 ) (18,803 ) Total loans, net of unamortized deferred loan fees and discounts $ 2,356,327 $ 378,222 $ 2,983 $ 22,061 $ 2,759,593 Noncovered loans $ 2,356,327 $ 378,222 $ 2,983 $ 18,885 $ 2,756,417 Covered loans — — — 3,176 3,176 Total loans, net of unamortized deferred loan fees and discounts $ 2,356,327 $ 378,222 $ 2,983 $ 22,061 $ 2,759,593 Allowance for loan losses $ (28,141 ) $ (1,665 ) $ (17 ) $ (2,680 ) $ (32,503 ) A summary of loan balances follows (in thousands): December 31, 2015 PCI - PCI - Originated PNCI Cash basis Other Total Mortgage loans on real estate: Residential 1-4 $ 207,585 $ 104,535 — $ 2,145 $ 314,265 Commercial 1,163,643 310,864 — 23,060 1,497,567 Total mortgage loan on real estate 1,371,228 415,399 — 25,205 1,811,832 Consumer: Home equity lines of credit 285,419 29,335 $ 4,954 2,784 322,492 Home equity loans 34,717 4,018 124 1,503 40,362 Other 28,998 3,367 — 64 32,429 Total consumer loans 349,134 36,720 5,078 4,351 395,283 Commercial 170,320 19,744 1 4,848 194,913 Construction: Residential 31,778 13,636 — 721 46,135 Commercial 66,285 8,489 — — 74,774 Total construction 98,063 22,125 — 721 120,909 Total loans, net of deferred loan fees and discounts $ 1,988,745 $ 493,988 $ 5,079 $ 35,125 $ 2,522,937 Total principal balance of loans owed, net of charge-offs $ 1,995,296 $ 507,935 $ 12,686 $ 39,693 $ 2,555,610 Unamortized net deferred loan fees (6,551 ) — — — (6,551 ) Discounts to principal balance of loans owed, net of charge-offs — (13,947 ) (7,607 ) (4,568 ) (26,122 ) Total loans, net of unamortized deferred loan fees and discounts $ 1,988,745 $ 493,988 $ 5,079 $ 35,125 $ 2,522,937 Noncovered loans $ 1,988,745 $ 493,988 $ 5,079 $ 29,890 $ 2,517,702 Covered loans — — — 5,235 5,235 Total loans, net of unamortized deferred loan fees and discounts $ 1,988,745 $ 493,988 $ 5,079 $ 35,125 $ 2,522,937 Allowance for loan losses $ (31,271 ) $ (1,848 ) $ (121 ) $ (2,771 ) $ (36,011 ) The following is a summary of the change in accretable yield for PCI – other loans during the periods indicated (in thousands): Year ended December 31, 2016 2015 Change in accretable yield: Balance at beginning of period $ 13,255 $ 14,159 Accretion to interest income (4,011 ) (6,323 ) Reclassification (to) from nonaccretable difference 1,104 5,419 Balance at end of period $ 10,348 $ 13,255 |
Allowance for Loan Losses
Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 5 – Allowance for Loan Losses The following tables summarize the activity in the allowance for loan losses, and ending balance of loans, net of unearned fees for the periods indicated. Allowance for Loan Losses - Year Ended December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Beginning balance $ 2,507 $ 11,443 $ 11,253 $ 3,138 — $ 688 $ 5,271 $ 899 $ 812 $ 36,011 Charge-offs (321 ) (827 ) (585 ) (219 ) — (823 ) (455 ) — — (3,230 ) Recoveries 880 920 2,317 590 — 449 404 54 78 5,692 (Benefit) provision (679 ) 369 (5,941 ) (892 ) — 308 611 464 (210 ) (5,970 ) Ending balance $ 2,387 $ 11,905 $ 7,044 $ 2,617 — $ 622 $ 5,831 $ 1,417 $ 680 $ 32,503 Ending balance: Individ. evaluated for impairment $ 249 $ 127 $ 410 $ 102 — $ 28 $ 1,130 — — $ 2,046 Loans pooled for evaluation $ 1,952 $ 10,329 $ 6,618 $ 2,451 — $ 594 $ 3,765 $ 1,371 $ 680 $ 27,760 Loans acquired with deteriorated credit quality $ 186 $ 1,449 $ 17 $ 64 — — $ 936 $ 45 — $ 2,697 Loans, net of unearned fees - As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Ending balance: Total loans $ 309,907 $ 1,747,917 $ 289,715 $ 41,822 — $ 30,766 $ 217,047 $ 55,429 $ 66,990 $ 2,759,593 Individ. evaluated for impairment $ 3,785 $ 15,748 $ 3,196 $ 1,150 — $ 154 $ 4,096 $ 11 — $ 28,140 Loans pooled for evaluation $ 304,759 $ 1,718,709 $ 282,159 $ 39,542 — $ 30,547 $ 208,960 $ 54,743 $ 66,990 $ 2,706,409 Loans acquired with deteriorated credit quality $ 1,363 $ 13,460 $ 4,360 $ 1,130 — $ 65 $ 3,991 $ 675 — $ 25,044 Allowance for Loan Losses - Year Ended December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Beginning balance $ 3,086 $ 9,227 $ 15,676 $ 1,797 $ 9 $ 719 $ 4,226 $ 1,434 $ 411 $ 36,585 Charge-offs (224 ) — (694 ) (242 ) (4 ) (972 ) (680 ) — — (2,816 ) Recoveries 204 243 666 252 42 500 677 1,728 140 4,452 (Benefit) provision (559 ) 1,973 (4,395 ) 1,331 (47 ) 441 1,048 (2,263 ) 261 (2,210 ) Ending balance $ 2,507 $ 11,443 $ 11,253 $ 3,138 — $ 688 $ 5,271 $ 899 $ 812 $ 36,011 Ending balance: Individ. evaluated for impairment $ 335 $ 395 $ 605 $ 294 — $ 74 $ 1,187 — — $ 2,890 Loans pooled for evaluation $ 2,112 $ 9,596 $ 10,423 $ 2,844 — $ 614 $ 2,983 $ 844 $ 812 $ 30,228 Loans acquired with deteriorated credit quality $ 60 $ 1,452 $ 225 — — — $ 1,101 $ 55 — $ 2,893 Loans, net of unearned fees - As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Ending balance: Total loans $ 314,265 $ 1,497,567 $ 322,492 $ 40,362 — $ 32,429 $ 194,913 $ 46,135 $ 74,774 $ 2,522,937 Individ. evaluated for impairment $ 6,767 $ 32,407 $ 5,747 $ 1,731 — $ 288 $ 2,671 $ 4 $ 490 $ 50,105 Loans pooled for evaluation $ 305,353 $ 1,442,100 $ 309,007 $ 37,004 — $ 32,077 $ 187,393 $ 45,410 $ 74,284 $ 2,432,628 Loans acquired with deteriorated credit quality $ 2,145 $ 23,060 $ 7,738 $ 1,627 — $ 64 $ 4,849 $ 721 — $ 40,204 Allowance for Loan Losses - Year Ended December 31, 2014 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Beginning balance $ 3,154 $ 9,700 $ 16,375 $ 1,208 $ 66 $ 589 $ 4,331 $ 1,559 $ 1,263 $ 38,245 Charge-offs (171 ) (110 ) (1,094 ) (29 ) (3 ) (599 ) (479 ) (4 ) (69 ) (2,558 ) Recoveries 2 540 960 34 86 495 1,268 1,377 181 4,943 (Benefit) provision 101 (903 ) (565 ) 584 (140 ) 234 (894 ) (1,498 ) (964 ) (4,045 ) Ending balance $ 3,086 $ 9,227 $ 15,676 $ 1,797 $ 9 $ 719 $ 4,226 $ 1,434 $ 411 $ 36,585 Ending balance: Individ. evaluated for impairment $ 974 $ 410 $ 1,974 $ 284 — $ 142 $ 423 $ 60 — $ 4,267 Loans pooled for evaluation $ 1,915 $ 8,408 $ 13,251 $ 1,513 $ 9 $ 572 $ 2,569 $ 332 $ 322 $ 28,891 Loans acquired with deteriorated credit quality $ 197 $ 409 $ 451 — — $ 5 $ 1,234 $ 1,042 $ 89 $ 3,427 Loans, net of unearned fees - As of December 31, 2014 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Ending balance: Total loans $ 279,420 $ 1,335,939 $ 352,584 $ 31,314 $ 112 $ 33,074 $ 174,945 $ 38,618 $ 36,518 $ 2,282,524 Individ. evaluated for impairment $ 7,188 $ 41,932 $ 6,968 $ 1,279 $ 18 $ 323 $ 1,757 $ 2,683 $ 99 $ 62,247 Loans pooled for evaluation $ 268,227 $ 1,263,090 $ 336,595 $ 29,266 $ 94 $ 32,677 $ 165,753 $ 35,260 $ 36,419 $ 2,167,381 Loans acquired with deteriorated credit quality $ 4,005 $ 30,917 $ 9,021 $ 770 — $ 74 $ 7,435 $ 675 — $ 52,897 As part of the on-going (iii) non-performing 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 • Special Mention • Substandard • Doubtful • Loss The following tables present ending loan balances by loan category and risk grade for the periods indicated: Credit Quality Indicators – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Originated loans: Pass $ 224,988 $ 1,457,128 $ 258,024 $ 34,299 — $ 27,542 $ 190,902 $ 54,602 $ 57,808 $ 2,305,293 Special mention 2,225 15,108 2,518 891 — 385 6,133 — 311 27,571 Substandard 2,396 12,184 3,048 1,884 — 240 3,700 11 — 23,463 Loss — — — — — — — — — — Total originated $ 229,609 $ 1,484,420 $ 263,590 $ 37,074 — $ 28,167 $ 200,735 $ 54,613 $ 58,119 $ 2,356,327 PNCI loans: Pass $ 75,600 $ 236,740 $ 20,442 $ 3,492 — $ 2,437 $ 12,320 $ 141 $ 8,871 $ 360,043 Special mention 1,849 6,057 509 41 — 92 1 — — 8,549 Substandard 1,486 7,240 814 85 — 5 — — — 9,630 Loss — — — — — — — — — — Total PNCI $ 78,935 $ 250,037 $ 21,765 $ 3,618 — $ 2,534 $ 12,321 $ 141 $ 8,871 $ 378,222 PCI loans $ 1,363 $ 13,460 $ 4,360 $ 1,130 — $ 65 $ 3,991 $ 675 — $ 25,044 Total loans $ 309,907 $ 1,747,917 $ 289,715 $ 41,822 — $ 30,766 $ 217,047 $ 55,429 $ 66,990 $ 2,759,593 Credit Quality Indicators – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Originated loans: Pass $ 199,837 $ 1,118,868 $ 275,251 $ 31,427 — $ 28,339 $ 166,559 $ 31,440 $ 66,285 $ 1,918,006 Special mention 2,018 10,321 2,494 1,027 — 415 1,037 334 — 17,646 Substandard 5,730 34,454 7,674 2,263 — 244 2,724 4 — 53,093 Loss — — — — — — — — — — Total originated $ 207,585 $ 1,163,643 $ 285,419 $ 34,717 — $ 28,998 $ 170,320 $ 31,778 $ 66,285 $ 1,988,745 PNCI loans: Pass $ 102,895 $ 293,935 $ 27,378 $ 3,789 — $ 3,164 $ 19,666 $ 13,636 $ 8,489 $ 472,952 Special mention 600 10,795 445 80 — 74 — — — 11,994 Substandard 1,040 6,134 1,512 149 — 129 78 — — 9,042 Loss — — — — — — — — — — Total PNCI $ 104,535 $ 310,864 $ 29,335 $ 4,018 — $ 3,367 $ 19,744 $ 13,636 $ 8,489 $ 493,988 PCI loans $ 2,145 $ 23,060 $ 7,738 $ 1,627 — $ 64 $ 4,849 $ 721 — $ 40,204 Total loans $ 314,265 $ 1,497,567 $ 322,492 $ 40,362 — $ 32,429 $ 194,913 $ 46,135 $ 74,774 $ 2,522,937 Consumer loans, whether unsecured or secured by real estate, automobiles, or other personal property, are susceptible to three primary risks; non-payment non-payment Problem consumer loans are generally identified by payment history of the borrower (delinquency). The Bank manages its consumer loan portfolios by monitoring delinquency and contacting borrowers to encourage repayment, suggest modifications if appropriate, and, when continued scheduled payments become unrealistic, initiate repossession or foreclosure through appropriate channels. Collateral values may be determined by appraisals obtained through Bank approved, licensed appraisers, qualified independent third parties, public value information (blue book values for autos), sales invoices, or other appropriate means. Appropriate valuations are obtained at initiation of the credit and periodically (every 3-12 Commercial real estate loans generally fall into two categories, owner-occupied and non-owner non-owner Construction loans, whether owner occupied or non-owner Problem C&I loans are generally identified by periodic review of financial information which may include financial statements, tax returns, rent rolls and payment history of the borrower (delinquency). Based on this information the Bank may decide to take any of several courses of action including demand for repayment, additional collateral or guarantors, and, when repayment becomes unlikely through borrower’s income and cash flow, repossession or foreclosure of the underlying collateral. Collateral values may be determined by appraisals obtained through Bank approved, licensed appraisers, qualified independent third parties, public value information (blue book values for autos), sales invoices, or other appropriate means. Appropriate valuations are obtained at initiation of the credit and periodically (every 3-12 Once a loan becomes delinquent and repayment becomes questionable, a Bank collection officer will address collateral shortfalls with the borrower and attempt to obtain additional collateral. If this is not forthcoming and payment in full is unlikely, the Bank will estimate its probable loss, using a recent valuation as appropriate to the underlying collateral less estimated costs of sale, and charge the loan down to the estimated net realizable amount. Depending on the length of time until ultimate collection, the Bank may revalue the underlying collateral and take additional charge-offs as warranted. Revaluations may occur as often as every 3-12 The following table shows the ending balance of current, past due, and nonaccrual originated loans by loan category as of the date indicated: Analysis of Past Due and Nonaccrual Originated Loans – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Originated loan balance: Past due: 30-59 $ 552 $ 317 $ 754 $ 646 — $ 16 $ 1,148 $ 921 — $ 4,354 60-89 139 1,517 — 395 — 30 84 — $ 421 2,586 > 90 Days — 216 687 184 — 15 634 11 — 1,747 Total past due $ 691 $ 2,050 $ 1,441 $ 1,225 — $ 61 $ 1,866 $ 932 $ 421 $ 8,687 Current 228,918 1,482,370 262,149 35,849 — 28,106 198,869 53,681 57,698 2,347,640 Total orig. loans $ 229,609 $ 1,484,420 $ 263,590 $ 37,074 — $ 28,167 $ 200,735 $ 54,613 $ 58,119 $ 2,356,327 > 90 Days and still accruing — — — — — — — — — — Nonaccrual loans $ 255 $ 7,736 $ 1,211 $ 718 — $ 33 $ 2,930 $ 11 — $ 12,894 The following table shows the ending balance of current, past due, and nonaccrual PNCI loans by loan category as of the date indicated: Analysis of Past Due and Nonaccrual PNCI Loans – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total PNCI loan balance: Past due: 30-59 $ 1,510 $ 73 $ 274 $ 39 — — — — — $ 1,896 60-89 — — — — — — — — — — > 90 Days 21 81 589 13 — — — — — 704 Total past due $ 1,531 $ 154 $ 863 $ 52 — — — — — $ 2,600 Current 77,404 249,883 20,902 3,566 — $ 2,534 $ 12,321 $ 141 $ 8,871 375,622 Total PNCI loans $ 78,935 $ 250,037 $ 21,765 $ 3,618 — $ 2,534 $ 12,321 $ 141 $ 8,871 $ 378,222 > 90 Days and still accruing — — — — — — — — — — Nonaccrual loans $ 194 $ 1,826 $ 742 $ 67 — $ 5 — — — $ 2,834 The following table shows the ending balance of current, past due, and nonaccrual originated loans by loan category as of the date indicated: Analysis of Past Due and Nonaccrual Originated Loans – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Originated loan balance: Past due: 30-59 $ 791 $ 200 $ 1,033 $ 402 — $ 12 $ 2,197 — — $ 4,635 60-89 — 491 324 341 — 40 — — — 1,196 > 90 Days 271 3,425 520 82 — 19 24 — — 4,341 Total past due $ 1,062 $ 4,116 $ 1,877 $ 825 — $ 71 $ 2,221 — — $ 10,172 Current 206,523 1,159,527 283,542 33,892 — 28,927 168,099 — — 1,978,573 Total orig. loans $ 207,585 $ 1,163,643 $ 285,419 $ 34,717 — $ 28,998 $ 170,320 $ 31,778 $ 66,285 $ 1,988,745 > 90 Days and still accruing — — — — — — — — — — Nonaccrual loans $ 3,045 $ 14,196 $ 3,379 $ 1,195 — $ 21 $ 976 $ 12 — $ 22,824 The following table shows the ending balance of current, past due, and nonaccrual PNCI loans by loan category as of the date indicated: Analysis of Past Due and Nonaccrual PNCI Loans – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total PNCI loan balance: Past due: 30-59 $ 3,106 $ 4,037 $ 92 $ 23 — — $ 1 — — $ 7,259 60-89 — — — — — $ 13 — — — 13 > 90 Days 58 748 275 71 — 10 — — $ 490 1,652 Total past due $ 3,164 $ 4,785 $ 367 $ 94 — $ 23 $ 1 — $ 490 $ 8,924 Current 101,371 306,079 28,968 3,924 — 3,344 19,743 $ 13,636 7,999 485,064 Total PNCI loans $ 104,535 $ 310,864 $ 29,335 $ 4,018 — $ 3,367 $ 19,744 $ 13,636 $ 8,489 $ 493,988 > 90 Days and still accruing — — — — — — — — — — Nonaccrual loans $ 348 $ 3,742 $ 676 $ 109 — $ 33 — — $ 490 $ 5,398 Impaired originated loans are those where management has concluded that it is probable that the borrower will be unable to pay all amounts due under the contractual terms. The following tables show the recorded investment (financial statement balance), unpaid principal balance, average recorded investment, and interest income recognized for impaired Originated and PNCI loans, segregated by those with no related allowance recorded and those with an allowance recorded for the periods indicated. Impaired Originated Loans – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total With no related allowance recorded: Recorded investment $ 1,691 $ 13,144 $ 1,480 $ 598 — $ 15 $ 762 $ 11 — $ 17,701 Unpaid principal $ 1,699 $ 13,488 $ 1,561 $ 922 — $ 29 $ 926 $ 16 — $ 18,641 Average recorded Investment $ 2,788 $ 20,126 $ 2,221 $ 773 $ 1 $ 16 $ 669 $ 7 — $ 26,601 Interest income Recognized $ 83 $ 581 $ 40 $ 4 — $ 1 $ 48 — — $ 757 With an allowance recorded: Recorded investment $ 1,372 $ 646 $ 430 $ 485 — $ 18 $ 3,334 — — $ 6,285 Unpaid principal $ 1,372 $ 646 $ 440 $ 487 — $ 19 $ 3,385 — — $ 6,349 Related allowance $ 170 $ 19 $ 110 $ 102 — $ 13 $ 1,130 — — $ 1,544 Average recorded Investment $ 1,689 $ 1,032 $ 1,077 $ 579 — $ 9 $ 2,714 — — $ 7,100 Interest income Recognized $ 56 $ 37 $ 9 $ 25 — $ 2 $ 77 — — $ 206 Impaired PNCI Loans – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total With no related allowance recorded: Recorded investment $ 463 $ 1,826 $ 735 $ 67 — $ 3 — — — $ 3,094 Unpaid principal $ 486 $ 2,031 $ 746 $ 74 — $ 4 — — — $ 3,341 Average recorded Investment $ 669 $ 1,479 $ 594 $ 69 — $ 18 $ 1 — $ 245 $ 3,075 Interest income Recognized $ 7 — $ 9 $ 1 — — — — — $ 17 With an allowance recorded: Recorded investment $ 259 $ 132 $ 551 — — $ 118 — — — $ 1,060 Unpaid principal $ 259 $ 132 $ 551 — — $ 118 — — — $ 1,060 Related allowance $ 79 $ 108 $ 300 — — $ 15 — — — $ 502 Average recorded Investment $ 130 $ 1,440 $ 579 $ 19 — $ 176 — — — $ 2,344 Interest income Recognized $ 10 $ 7 $ 27 — — $ 5 — — — $ 49 Impaired Originated Loans – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total With no related allowance recorded: Recorded investment $ 3,886 $ 27,109 $ 2,963 $ 947 — $ 20 $ 576 $ 4 — $ 35,505 Unpaid principal $ 5,998 $ 29,678 $ 6,079 $ 1,349 — $ 35 $ 688 $ 65 — $ 43,892 Average recorded Investment $ 3,586 $ 32,793 $ 2,982 $ 848 — $ 29 $ 494 $ 1,202 $ 50 $ 41,984 Interest income Recognized $ 81 $ 893 $ 23 $ 5 — — $ 29 — — $ 1,031 With an allowance recorded: Recorded investment $ 2,006 $ 1,418 $ 1,724 $ 674 — $ 1 $ 2,094 — — $ 7,917 Unpaid principal $ 2,073 $ 1,453 $ 1,904 $ 701 — $ 1 $ 2,117 — — $ 8,249 Related allowance $ 335 $ 146 $ 525 $ 256 — $ 1 $ 1,187 — — $ 2,450 Average recorded Investment $ 2,365 $ 2,180 $ 2,455 $ 589 — $ 23 $ 1,716 $ 141 — $ 9,469 Interest income Recognized $ 49 $ 74 $ 31 $ 26 — — $ 122 — — $ 302 Impaired PNCI Loans – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total With no related allowance recorded: Recorded investment $ 875 $ 1,132 $ 454 $ 71 — $ 33 $ 1 — $ 490 $ 3,056 Unpaid principal $ 908 $ 1,248 $ 505 $ 73 — $ 52 $ 1 — $ 490 $ 3,277 Average recorded Investment $ 609 $ 749 $ 400 $ 48 — $ 35 $ 4 — $ 245 $ 2,090 Interest income Recognized $ 31 $ 32 $ 3 $ 2 — $ 1 — — $ 18 $ 87 With an allowance recorded: Recorded investment — $ 2,748 $ 606 $ 39 — $ 234 — — — $ 3,627 Unpaid principal — $ 2,858 $ 612 $ 40 — $ 234 — — — $ 3,744 Related allowance — $ 248 $ 80 $ 39 — $ 73 — — — $ 440 Average recorded Investment $ 417 $ 1,447 $ 521 $ 19 — $ 227 — — — $ 2,631 Interest income Recognized — $ 149 $ 14 — — $ 11 — — — $ 174 At December 31, 2016, $12,371,000 of Originated loans were TDRs and classified as impaired. The Company had obligations to lend $25,000 of additional funds on these TDRs as of December 31, 2016. At December 31, 2016, $1,324,000 of PNCI loans were TDRs and classified as impaired. The Company had no obligations to lend additional funds on these TDRs as of December 31, 2016. At December 31, 2015, $29,269,000 of Originated loans were TDRs and classified as impaired. The Company had obligations to lend $35,000 of additional funds on these TDRs as of December 31, 2015. At December 31, 2015, $1,396,000 of PNCI loans were TDRs and classified as impaired. The Company had no obligations to lend additional funds on these TDRs as of December 31, 2015. At December 31, 2014, $45,676,000 of Originated loans were TDRs and classified as impaired. The Company had obligations to lend $54,000 of additional funds on these TDRs as of December 31, 2014. At December 31, 2014, $1,307,000 of PNCI loans were TDRs and classified as impaired. The Company had no obligations to lend additional funds on these TDRs as of December 31, 2014. The following tables show certain information regarding Troubled Debt Restructurings (TDRs) that occurred during the periods indicated: TDR Information for the Year Ended December 31, 2016 RE Mortgage Home Equity Auto Other Construction (dollars in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Number 3 5 9 1 — 2 4 — — 24 Pre-mod $ 650 $ 423 $ 707 $ 105 — $ 27 $ 77 — — $ 1,989 Post-mod $ 656 $ 461 $ 709 $ 105 — $ 27 $ 77 — — $ 2,035 Financial impact due to TDR taken as additional provision $ 50 $ 46 $ 205 — — $ 2 $ 23 — — $ 326 Number that defaulted during the period 2 — 1 — — — — — — 3 Recorded investment of TDRs that defaulted during the period $ 101 — $ 229 — — — — — — $ 330 Financial impact due to the default of previous TDR taken as charge-offs or additional provisions — — — — — — — — — — TDR Information for the Year Ended December 31, 2015 RE Mortgage Home Equity Auto Other Construction (dollars in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Number 4 5 2 2 — 2 8 — — 23 Pre-mod $ 800 $ 1,518 $ 301 $ 315 — $ 89 $ 956 — — $ 3,979 Post-mod $ 801 $ 1,517 $ 301 $ 321 — $ 89 $ 944 — — $ 3,973 Financial impact due to TDR taken as additional provision $ 8 $ (5 ) — $ 38 — $ 5 $ 405 — — $ 451 Number that defaulted during the period 4 2 3 1 — — — — — 10 Recorded investment of TDRs that defaulted during the period $ 221 $ 280 $ 182 $ 53 — — — — — $ 736 Financial impact due to the default of previous TDR taken as charge-offs or additional provisions — — — $ (9 ) — — — — — $ (9 ) Modifications classified as Troubled Debt Restructurings 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. For all new Troubled Debt Restructurings, 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. |
Foreclosed Assets
Foreclosed Assets | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Foreclosed Assets | Note 6 – Foreclosed Assets A summary of the activity in the balance of foreclosed assets follows (dollars in thousands): Year ended December 31, 2016 Year ended December 31, 2015 Noncovered Covered Total Noncovered Covered Total Beginning balance, net $ 5,369 — $ 5,369 $ 4,449 $ 445 $ 4,894 Additions/transfers from loans 2,282 $ 223 2,505 5,880 (445 ) 5,435 Dispositions/sales (3,748 ) — (3,748 ) (4,458 ) — (4,458 ) Valuation adjustments (140 ) — (140 ) (502 ) — (502 ) Ending balance, net $ 3,763 $ 223 $ 3,986 $ 5,369 — $ 5,369 Ending valuation allowance $ (314 ) — $ (314 ) $ (572 ) — $ (572 ) Ending number of foreclosed assets 14 1 15 26 — 26 Proceeds from sale of foreclosed assets $ 4,010 — $ 4,010 $ 5,449 — $ 5,449 Gain on sale of foreclosed assets $ 262 — $ 262 $ 991 — $ 991 At December 31, 2016, the balance of real estate owned includes $1,750,000 of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2016, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are underway is $301,000. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | Note 7 – Premises and Equipment Premises and equipment were comprised of: December 31, December 31, 2016 2015 (In thousands) Land & land improvements $ 9,522 $ 8,909 Buildings 42,345 38,643 Furniture and equipment 31,428 31,081 83,295 78,633 Less: Accumulated depreciation (37,412 ) (35,518 ) 45,883 43,115 Construction in progress 2,523 696 Total premises and equipment $ 48,406 $ 43,811 Depreciation expense for premises and equipment amounted to $5,314,000, $5,043,000, and$4,648,000 in 2016, 2015, and 2014, respectively. |
Cash Value of Life Insurance
Cash Value of Life Insurance | 12 Months Ended |
Dec. 31, 2016 | |
Investments, All Other Investments [Abstract] | |
Cash Value of Life Insurance | Note 8 – Cash Value of Life Insurance A summary of the activity in the balance of cash value of life insurance follows (dollars in thousands): Year ended December 31, 2016 2015 Beginning balance $ 94,560 $ 92,337 Increase in cash value of life insurance 2,717 2,786 Death benefit receivable in excess of cash value 238 155 Death benefit receivable (1,603 ) (718 ) Ending balance $ 95,912 $ 94,560 End of period death benefit $ 165,669 $ 166,299 Number of policies owned 185 187 Insurance companies used 14 14 Current and former employees and directors covered 58 59 As of December 31, 2016, the Bank was the owner and beneficiary of 185 life insurance policies, issued by 14 life insurance companies, covering 58 current and former employees and directors. These life insurance policies are recorded on the Company’s financial statements at their reported cash (surrender) values. As a result of current tax law and the nature of these policies, the Bank records any increase in cash value of these policies as nontaxable noninterest income. If the Bank decided to surrender any of the policies prior to the death of the insured, such surrender may result in a tax expense related to the life-to-date |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Note 9 – Goodwill and Other Intangible Assets The following table summarizes the Company’s goodwill intangible as of the dates indicated: December 31, December 31, (Dollar in Thousands) 2016 Additions Reductions 2015 Goodwill $ 64,311 $ 849 — $ 63,462 The following table summarizes the Company’s core deposit intangibles as of the dates indicated: December 31, Reductions/ Fully December 31, (Dollar in Thousands) 2016 Additions Amortization Depreciated 2015 Core deposit intangibles $ 10,120 $ 2,046 — — $ 8,074 Accumulated amortization (3,557 ) — $ (1,377 ) — (2,180 ) Core deposit intangibles, net $ 6,563 $ 2,046 $ (1,377 ) — $ 5,894 The Company recorded additions to its CDI of $2,046,000 in conjunction with the acquisition of three branch offices from Bank of America on March 18, 2016, $6,614,000 in conjunction with the North Valley Bancorp acquisition on October 3, 2014, $898,000 in conjunction with the Citizens acquisition on September 23, 2011, and $562,000 in conjunction with the Granite acquisition on May 28, 2010. The following table summarizes the Company’s estimated core deposit intangible amortization (dollars in thousands): Estimated Core Deposit Years Ended Intangible Amortization 2017 $ 1,389 2018 1,324 2019 1,228 2020 1,228 2021 969 Thereafter 425 |
Mortgage Servicing Rights
Mortgage Servicing Rights | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Mortgage Servicing Rights | Note 10 – Mortgage Servicing Rights The following tables summarize the activity in, and the main assumptions we used to determine the fair value of mortgage servicing rights for the periods indicated (dollars in thousands): Years ended December 31, 2016 2015 2014 Balance at beginning of period $ 7,618 $ 7,378 $ 6,165 Acquisition — — 1,944 Originations 1,161 941 570 Change in fair value (2,184 ) (701 ) (1,301 ) Balance at end of period $ 6,595 $ 7,618 $ 7,378 Contractually specified servicing fees, late fees and ancillary fees earned $ 2,065 $ 2,164 $ 1,869 Balance of loans serviced at: Beginning of period $ 817,917 $ 840,288 $ 680,197 End of period $ 816,623 $ 817,917 $ 840,288 Weighted-average prepayment speed (CPR) 8.8 % 9.8 % 12.0 % Weighted-average discount rate 14.0 % 10.0 % 10.0 % The changes in fair value of MSRs that occurred during 2016 were mainly due to changes in principal balances, changes in mortgage prepayment speeds, and changes in investor required rate of return, or discount rate, of the MSRs. The changes in fair value of MSRs that occurred during 2015 and 2014 were mainly due to changes in principal balances and changes in estimate life of the MSRs. |
Indemnification Asset
Indemnification Asset | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Indemnification Asset | Note 11 – Indemnification Asset A summary of the activity in the balance of indemnification asset (liability) included in other assets is follows (in thousands): Year ended December 31, 2016 2015 2014 Beginning balance $ (521 ) $ (349 ) $ 206 Effect of actual covered losses (recoveries) and increase (decrease) in estimated future covered losses (412 ) (93 ) (853 ) Change in estimated “true up” liability (86 ) (71 ) (100 ) Reimbursable (revenue) expenses, net 2 4 85 Payments made (received) 273 (12 ) 313 Ending balance $ (744 ) $ (521 ) $ (349 ) Amount of indemnification asset (liability) recorded in other assets $ (60 ) $ 77 $ (349 ) Amount of indemnification liability recorded in other liabilities (684 ) (598 ) — Ending balance $ (744 ) $ (521 ) $ (349 ) |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | Note 12 – Other Assets Other assets were comprised of (in thousands): As of December 31, 2016 2015 Deferred tax asset, net (Note 22) $ 36,199 $ 36,440 Prepaid expense 3,045 3,062 Software 2,039 1,290 Advanced compensation 249 673 Capital Trusts 1,702 1,696 Investment in Low Housing Tax Credit Funds 18,465 4,223 Life insurance proceeds receivable 2,120 — Prepaid Taxes 6,460 — Premises held for sale 2,896 — Miscellaneous other assets 1,568 1,207 Total other assets $ 74,743 $ 48,591 |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Deposits | Note 13 – Deposits A summary of the balances of deposits follows (in thousands): December 31, 2016 2015 Noninterest-bearing demand $ 1,275,745 $ 1,155,695 Interest-bearing demand 887,625 853,961 Savings 1,397,036 1,281,540 Time certificates, over $250,000 75,184 74,647 Other time certificates 259,970 265,423 Total deposits $ 3,895,560 $ 3,631,266 Certificate of deposit balances of $50,000,000 from the State of California were included in time certificates over $250,000 at December 31, 2016 and 2015. The Bank participates in a deposit program offered by the State of California whereby the State may make deposits at the Bank’s request subject to collateral and credit worthiness constraints. The negotiated rates on these State deposits are generally more favorable than other wholesale funding sources available to the Bank. Overdrawn deposit balances of $1,191,000 and $796,000 were classified as consumer loans at December 31, 2016 and 2015, respectively. At December 31, 2016, the scheduled maturities of time deposits were as follows (in thousands): Scheduled Maturities 2017 $ 279,015 2018 26,097 2019 9,277 2020 10,611 2021 10,135 Thereafter 19 Total $ 335,154 |
Reserve for Unfunded Commitment
Reserve for Unfunded Commitments | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Reserve for Unfunded Commitments | Note 14 – Reserve for Unfunded Commitments The following tables summarize the activity in reserve for unfunded commitments for the periods indicated (dollars in thousands): Years ended December 31, 2016 2015 2014 Balance at beginning of period $ 2,475 $ 2,145 $ 2,415 Acquisitions — — 125 Provision for losses – Unfunded commitments 244 330 (395 ) Balance at end of period $ 2,719 $ 2,475 $ 2,145 |
Other Liabilities
Other Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Other Liabilities Disclosure [Abstract] | |
Other Liabilities | Note 15 – Other Liabilities Other liabilities were comprised of (in thousands): December 31, 2016 2015 Deferred compensation $ 6,525 $ 6,725 Pension liability 26,645 26,182 Joint beneficiary agreements 3,007 2,529 Low income housing tax credit fund commitments 15,176 3,330 Accrued salaries and benefits expense 5,704 3,851 Loan escrow and servicing payable 2,146 2,037 Deferred revenue 726 1,082 Unsettled investment security purchases — 17,072 Litigation contingency 1,450 — Miscellaneous other liabilities 5,985 2,485 Total other liabilities $ 67,364 $ 65,293 |
Other Borrowings
Other Borrowings | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Other Borrowings | Note 16 – Other Borrowings A summary of the balances of other borrowings follows: December 31, 2016 2015 (in thousands) Other collateralized borrowings, fixed rate, as of December 31, 2016 of 0.05%, payable on January 2, 2017 $ 17,493 $ 12,328 Total other borrowings $ 17,493 $ 12,328 The Company did not enter into any other borrowings or repurchase agreements during 2016 or 2015. The Company had $17,493,000 and $12,328,000 of other collateralized borrowings at December 31, 2016 and 2015, respectively. Other collateralized borrowings are generally overnight maturity borrowings from non-financial The Company maintains a collateralized line of credit with the Federal Home Loan Bank of San Francisco. Based on the FHLB stock requirements at December 31, 2016, this line provided for maximum borrowings of $1,304,136,000 of which none was outstanding, leaving $1,304,136,000 available. As of December 31, 2016, the Company had designated investment securities with a fair value of $78,985,000 and loans totaling $1,884,580,000 as potential collateral under this collateralized line of credit with the FHLB. The Company maintains a collateralized line of credit with the Federal Reserve Bank of San Francisco. As of December 31, 2016, this line provided for maximum borrowings of $133,655,000 of which none was outstanding, leaving $133,655,000 available. As of December 31, 2016, the Company has designated investment securities with fair value of $47,000 and loans totaling $228,542,000 as potential collateral under this collateralized line of credit with the FRB. The Company has available unused correspondent banking lines of credit from commercial banks totaling $20,000,000 for federal funds transactions at December 31, 2016. |
Junior Subordinated Debt
Junior Subordinated Debt | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Junior Subordinated Debt | Note 17 – Junior Subordinated Debt At December 31, 2016, the Company had five wholly-owned subsidiary business trusts that had issued $62.9 million of trust preferred securities (the “Capital Trusts”). Trust preferred securities accrue and pay distributions periodically at specified annual rates as provided in the indentures. The trusts used the net proceeds from the offering to purchase a like amount of subordinated debentures (the “Debentures”) of the Company. The Debentures are the sole assets of the trusts. The Company’s obligations under the subordinated debentures and related documents, taken together, constitute a full and unconditional guarantee by the Company of the obligations of the trusts. The trust preferred securities are mandatorily redeemable upon the maturity of the Debentures, or upon earlier redemption as provided in the indentures. The Company has the right to redeem the Debentures in whole (but not in part) on or after specific dates, at a redemption price specified in the indentures plus any accrued but unpaid interest to the redemption date. The Company also has a right to defer consecutive payments of interest on the debentures for up to five years. The Company organized two of the Capital Trusts. The Company acquired its three other Capital Trusts and assumed their related Debentures as a result of its acquisition of North Valley Bancorp. At the acquisition date of October 3, 2014, the Debentures associated with North Valley Bancorp’s three Capital Trusts were recorded on the Company’s books at their fair values of $5,006,000, $3,918,000, and $6,063,000, respectively. The related fair value discounts to face value of these Debentures will be amortized over the remaining time to maturity for each of these Debentures using the effective interest method. Similar, and proportional, discounts were applied to the acquired common stock interests in each of the acquired Capital Trusts and these discounts will be proportionally amortized over the remaining time to maturity for each related debenture. The recorded book values of the Debentures issued by the Capital Trusts are reflected as junior subordinated debt in the Company’s consolidated balance sheets. The common stock issued by the Capital Trusts and owned by the Company is recorded in other assets in the Company’s consolidated balance sheets. The recorded book value of the debentures issued by the Capital Trusts, less the recorded book value of the common stock of the Capital Trusts owned by the Company, continues to qualify as Tier 1 or Tier 2 capital under interim guidance issued by the Board of Governors of the Federal Reserve System. The following table summarizes the terms and recorded balance of each subordinated debenture as of the date indicated (dollars in thousands): Subordinated Debt Series Maturity Face Coupon Rate As of December 31, 2016 (Variable) Current Recorded 3 mo. LIBOR + Coupon Rate Book Value TriCo Cap Trust I 10/7/2033 $ 20,619 3.05 % 3.93 % $ 20,619 TriCo Cap Trust II 7/23/2034 20,619 2.55 % 3.43 % 20,619 North Valley Trust II 4/24/2033 6,186 3.25 % 4.14 % 5,095 North Valley Trust III 4/24/2034 5,155 2.80 % 3.68 % 4,005 North Valley Trust IV 3/15/2036 10,310 1.33 % 2.29 % 6,329 $ 62,889 $ 56,667 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 18 – Commitments and Contingencies Restricted Cash Balances Lease Commitments non-cancelable non-cancelable Operating Leases (in thousands) 2017 $ 3,320 2018 2,523 2019 1,924 2020 1,325 2021 963 Thereafter 1,696 Future minimum lease payments $ 11,751 Rent expense under operating leases was $6,082,000 in 2016, $6,241,000 in 2015, and $4,786,000 in 2014. Rent expense was offset by rent income of $220,000 in 2016, $217,000 in 2015, and $225,000 in 2014. Financial Instruments with Off-Balance-Sheet off-balance The Company’s exposure to loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit written is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance The following table presents a summary of the Bank’s commitments and contingent liabilities: December 31, December 31, (in thousands) 2016 2015 Financial instruments whose amounts represent risk: Commitments to extend credit: Commercial loans $ 220,836 $ 196,399 Consumer loans 406,855 394,278 Real estate mortgage loans 42,184 42,793 Real estate construction loans 97,399 71,846 Standby letters of credit 12,763 8,330 Deposit account overdraft privilege 98,583 94,473 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates of one year or less or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support private borrowing arrangements. Most standby letters of credit are issued for one year or less. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Collateral requirements vary, but in general follow the requirements for other loan facilities. Deposit account overdraft privilege amount represents the unused overdraft privilege balance available to the Company’s deposit account holders who have deposit accounts covered by an overdraft privilege. The Company has established an overdraft privilege for certain of its deposit account products whereby all holders of such accounts who bring their accounts to a positive balance at least once every thirty days receive the overdraft privilege. The overdraft privilege allows depositors to overdraft their deposit account up to a predetermined level. The predetermined overdraft limit is set by the Company based on account type. Legal Proceedings in-store non-exempt non-binding In addition to this, on January 20, 2015, a then-current Personal Banker at one of the Bank’s in-store non-exempt non-binding As part of the mediations, which took place concurrently, the Bank agreed in principal to settle the two matters. In connection with the settlement and in consideration of a full release of all claims raised in both the actions, the Bank has agreed to pay up to $1.9 million though the actual cost of the settlement will depend on the number of claims submitted by the members of the purported classes. As a result, the Bank estimates the actual cost of the settlement may be approximately $1,450,000, and recorded such estimate. The settlement is subject to customary conditions, including court approval following notice to the members of the purported classes. Provided the parties can agree on the language to be included in the settlement agreement and then enter into a stipulation regarding the settlement, court hearings will be scheduled where the court will consider the terms of the settlement. But it should be noted there are no assurances the court will approve the settlement even if the parties enter into such a stipulation. Neither the Company nor its subsidiaries are a party to any other pending legal proceedings that are material, nor is their property the subject of any other material pending legal proceeding at this time. All other legal proceedings are routine and arise out of the ordinary course of the Bank’s business. None of those proceedings are currently expected to have a material adverse impact upon the Company’s and the Bank’s business, their consolidated financial position nor their operations in any material amount not already accrued, after taking into consideration any applicable insurance. Other Commitments and Contingencies The Bank owns 13,396 shares of Class B common stock of Visa Inc. which are convertible into Class A common stock at a conversion ratio of 1.648265 per Class B share. As of December 31, 2016, the value of the Class A shares was $78.02 per share. Utilizing the conversion ratio, the value of unredeemed Class A equivalent shares owned by the Bank was $1,723,000 as of December 31, 2016, and has not been reflected in the accompanying financial statements. The shares of Visa Class B common stock are restricted and may not be transferred. Visa Member Banks are required to fund an escrow account to cover settlements, resolution of pending litigation and related claims. If the funds in the escrow account are insufficient to settle all the covered litigation, Visa may sell additional Class A shares, use the proceeds to settle litigation, and further reduce the conversion ratio. If funds remain in the escrow account after all litigation is settled, the Class B conversion ratio will be increased to reflect that surplus. Mortgage loans sold to investors may be sold with servicing rights retained, with only the standard legal representations and warranties regarding recourse to the Bank. Management believes that any liabilities that may result from such recourse provisions are not significant. |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Shareholders' Equity | Note 19 – Shareholders’ Equity Dividends Paid The Bank paid to the Company cash dividends in the aggregate amounts of $16,758,000, $13,304,000, and $8,270,000 in 2016, 2015, and 2014, respectively. The Bank is regulated by the Federal Deposit Insurance Corporation (FDIC) and the State of California Department of Business Oversight. Absent approval from the Commissioner of the Department of Business Oversight, 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. Under this law, at December 31, 2016, the Bank could have paid dividends of $82,615,000 to the Company without the approval of the Commissioner of the Department of Business Oversight, Stock Repurchase Plan On August 21, 2007, the Board of Directors adopted a plan to repurchase, as conditions warrant, up to 500,000 shares of the Company’s common stock on the open market. The timing of purchases and the exact number of shares to be purchased will depend on market conditions. The 500,000 shares authorized for repurchase under this stock repurchase plan represented approximately 3.2% of the Company’s 15,814,662 outstanding common shares as of August 21, 2007. This stock repurchase plan has no expiration date. As of December 31, 2016, the Company had repurchased 166,600 shares under this plan. Stock Repurchased Under Equity Compensation Plans During the years ended December 31, 2016, 2015, and 2014, employees tendered 264,800, 106,355, and 103,268 of the Company’s common stock with market value of $7,879,000, $2,868,000, and $2,551,000, respectively, in lieu of cash to exercise options to purchase shares of the Company’s stock and to pay income taxes related to such exercises as permitted by the Company’s shareholder-approved equity compensation plans. 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. Stock repurchased under equity incentive plans are not included in the total of stock repurchased under the stock repurchase plan announced August 21, 2007. |
Stock Options and Other Equity-
Stock Options and Other Equity-Based Incentive Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Options and Other Equity-Based Incentive Instruments | Note 20 – Stock Options and Other Equity-Based Incentive Instruments In March 2009, the Company’s Board of Directors adopted the TriCo Bancshares 2009 Equity Incentive Plan (2009 Plan) covering officers, employees, directors of, and consultants to, the Company. The 2009 Plan was approved by the Company’s shareholders in May 2009. The 2009 Plan allows for the granting of the following types of “stock awards” (Awards): incentive stock options, nonstatutory stock options, performance awards, restricted stock, restricted stock unit (RSU) awards and stock appreciation rights. RSUs that vest based solely on the grantee remaining in the service of the Company for a certain amount of time, are referred to as “service condition vesting RSUs”. RSUs that vest based on the grantee remaining in the service of the Company for a certain amount of time and a market condition such as the total return of the Company’s common stock versus the total return of an index of bank stocks, are referred to as “market plus service condition vesting RSUs”. In May 2013, the Company’s shareholders approved an amendment to the 2009 Plan increasing the maximum aggregate number of shares of TriCo’s common stock which may be issued pursuant to or subject to Awards from 650,000 to 1,650,000. The number of shares available for issuance under the 2009 Plan is reduced by: (i) one share for each share of common stock issued pursuant to a stock option or a Stock Appreciation Right and (ii) two shares for each share of common stock issued pursuant to a Performance Award, a Restricted Stock Award or a Restricted Stock Unit Award. When Awards made under the 2009 Plan expire or are forfeited or cancelled, the underlying shares will become available for future Awards under the 2009 Plan. To the extent that a share of common stock pursuant to an Award that counted as two shares against the number of shares again becomes available for issuance under the 2009 Plan, the number of shares of common stock available for issuance under the 2009 Plan shall increase by two shares. Shares awarded and delivered under the 2009 Plan may be authorized but unissued, or reacquired shares. As of December 31, 2016, 481,900 options for the purchase of common shares, and 115,876 restricted stock units were outstanding, and 637,262 shares remain available for issuance, under the 2009 Plan. In May 2001, the Company adopted the TriCo Bancshares 2001 Stock Option Plan (2001 Plan) covering officers, employees, directors of, and consultants to, the Company. Under the 2001 Plan, the option exercise price cannot be less than the fair market value of the Common Stock at the date of grant except in the case of substitute options. Options for the 2001 Plan expire on the tenth anniversary of the grant date. Vesting schedules under the 2001 Plan are determined individually for each grant. As of December 31, 2016, 110,350 options for the purchase of common shares were outstanding under the 2001 Plan. As of May 2009, as a result of the shareholder approval of the 2009 Plan, no new options may be granted under the 2001 Plan. Stock option activity is summarized in the following table for the dates indicated: Weighted Average Number Option Price Exercise of Shares per Share Price Outstanding at December 31, 2015 948,350 $ 12.63 to $25.91 $ 17.94 Options granted — — to — — Options exercised (336,900 ) $ 14.54 to $25.91 $ 19.31 Options forfeited (19,200 ) $ 14.76 to $23.21 $ 19.14 Outstanding at December 31, 2016 592,250 $ 12.63 to $23.21 $ 17.12 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 December 31, 2016: Currently Currently Not Total Exercisable Exercisable Outstanding Number of options 520,650 71,600 592,250 Weighted average exercise price $ 16.91 $ 18.64 $ 17.12 Intrinsic value (in thousands) $ 8,991 $ 1,112 $ 10,103 Weighted average remaining contractual term (yrs.) 4.1 6.3 4.3 The 71,600 options that are currently not exercisable as of December 31, 2016 are expected to vest, on a weighted-average basis, over the next 1.3 years, and the Company is expected to recognize $368,000 of pre-tax The following table shows the total intrinsic value of options exercised, the total fair value of options vested, total compensation costs for options recognized in income, and total tax benefit recognized in income related to compensation costs for options during the periods indicated: Years Ended December 31, 2016 2015 2014 Intrinsic value of options exercised $ 3,483,000 $ 969,000 $ 1,209,000 Fair value of options that vested $ 580,000 $ 734,000 $ 965,000 Total compensation costs for options recognized in income $ 580,000 $ 734,000 $ 965,000 Total tax benefit recognized in income related to compensation costs for options $ 244,000 $ 380,000 $ 378,000 Weighted average fair value of grants (per option) n/a n/a $ 8.17 The fair value of the Company’s stock option grants is estimated on the measurement date, which, for the Company, is the date of grant. The fair value of stock options is estimated using the Black-Scholes option-pricing model. The Company estimated expected market price volatility and expected term of the options based on historical data and other factors. The weighted-average assumptions used to determine the fair value of options granted are detailed in the table below: Year Ended December 31, 2016 2015 2014 Assumptions used to value option grants: Average expected terms (years) n/a n/a 6.3 Volatility n/a n/a 42.1 % Annual rate of dividends n/a n/a 1.90 % Discount rate n/a n/a 1.69 % Restricted stock unit (RSU) activity is summarized in the following table for the dates indicated: Service Condition Vesting RSUs Market Plus Service Condition Vesting RSUs Number of RSUs Weighted Average Fair Date of Grant Number of RSUs Weighted Average Fair Value on Date of Grant Outstanding at December 31, 2015 46,286 32,097 RSUs granted 47,020 $ 28.01 19,402 $ 24.41 RSUs added through dividend credits 1,292 — RSUs released (20,529 ) — RSUs forfeited/expired (5,619 ) (4,073 ) Outstanding at December 31, 2016 68,450 47,426 The 68,450 of service condition vesting RSUs outstanding as of December 31, 2016 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 68,450 of service condition vesting RSUs that are currently outstanding as of December 31, 2016 are expected to vest, and be released, on a weighted-average basis, over the next 1.4 years. The Company is expected to recognize $1,296,000 of pre-tax The 47,426 of market plus service condition vesting RSUs outstanding as of December 31, 2016 are expected to vest, and be released, on a weighted-average basis, over the next 1.5 years. The Company is expected to recognize $564,000 of pre-tax The following table shows the compensation costs for RSUs recognized in income for the periods indicated: Year Ended December 31, 2016 2015 2014 Total compensation costs for RSUs recognized in income: Service condition vesting RSUs $ 616,000 $ 458,000 $ 126,000 Market plus service condition vesting RSUs $ 271,000 $ 179,000 $ 42,000 |
Noninterest Income and Expense
Noninterest Income and Expense | 12 Months Ended |
Dec. 31, 2016 | |
Other Income and Expenses [Abstract] | |
Noninterest Income and Expense | Note 21 – Noninterest Income and Expense The components of other noninterest income were as follows (in thousands): Years Ended December 31, 2016 2015 2014 Service charges on deposit accounts $ 14,365 $ 14,276 $ 11,811 ATM and interchange fees 15,859 13,364 9,651 Other service fees 3,121 2,977 2,206 Mortgage banking service fees 2,065 2,164 1,869 Change in value of mortgage servicing rights (2,184 ) (701 ) (1,301 ) Total service charges and fees 33,226 32,080 24,236 Gain on sale of loans 4,037 3,064 2,032 Commissions on sale of non-deposit 2,329 3,349 2,995 Increase in cash value of life insurance 2,717 2,786 1,953 Change in indemnification asset (493 ) (207 ) (856 ) Gain on sale of foreclosed assets 262 991 2,153 Sale of customer checks 408 492 450 Lease brokerage income 711 712 504 Gain (loss) on disposal of fixed assets (147 ) (129 ) 49 Gain on life insurance death benefit 238 155 — Other 1,275 2,054 1,000 Total other noninterest income 11,337 13,267 10,280 Total noninterest income $ 44,563 $ 45,347 $ 34,516 Mortgage loan servicing fees, net of change in fair value of mortgage loan servicing rights, totaling $(119,000), $1,463,000, and $568,000, were recorded in service charges and fees noninterest income for the years ended December 31, 2016, 2015, and 2014, respectively. The components of noninterest expense were as follows (in thousands): Years Ended December 31, 2016 2015 2014 Base salaries, net of deferred loan origination costs $ 53,169 $ 46,822 $ 39,342 Incentive compensation 8,872 6,964 5,068 Benefits and other compensation costs 18,683 17,619 13,134 Total salaries and benefits expense 80,724 71,405 57,544 Occupancy 10,139 10,126 8,203 Equipment 6,597 5,997 4,514 Data processing and software 8,846 7,670 6,512 Assessments 2,105 2,572 2,107 ATM & POS network charges 4,999 4,190 2,996 Advertising 3,829 3,992 2,413 Professional fees 5,409 4,545 3,888 Telecommunications 2,749 3,007 2,870 Postage 1,603 1,296 949 Courier service 998 1,154 1,055 Foreclosed assets expense 266 490 528 Intangible amortization 1,377 1,157 446 Operational losses 1,564 737 764 Provision for foreclosed asset losses 140 502 208 Change in reserve for unfunded commitments 244 330 (395 ) Legal settlement 1,450 — — Merger & acquisition expense 784 586 4,858 Miscellaneous other 12,174 11,085 10,919 Total other noninterest expense 65,273 59,436 52,835 Total noninterest expense $ 145,997 $ 130,841 $ 110,379 Merger and acquisition expense: Base salaries, net of loan origination costs $ 187 — — Incentive compensation — — $ 1,174 Benefits and other compensation costs — — 94 Data processing and software — $ 108 475 Professional fees 342 120 2,390 Other 255 358 725 Total merger expense $ 784 $ 586 $ 4,858 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 22—Income Taxes The components of consolidated income tax expense are as follows: 2016 2015 2014 (in thousands) Current tax expense Federal $ 17,401 $ 21,076 $ 14,485 State 7,121 7,139 5,016 $ 24,522 28,215 19,501 Deferred tax expense (benefit) Federal 2,735 408 (794 ) State 455 273 (199 ) 3,190 681 (993 ) Total tax expense $ 27,712 $ 28,896 $ 18,508 A deferred tax asset or liability is recognized for the tax consequences of temporary differences in the recognition of revenue and expense for financial and tax reporting purposes. The net change during the year in the deferred tax asset or liability results in a deferred tax expense or benefit. Taxes recorded directly to shareholders’ equity are not included in the preceding table. These taxes (benefits) relating to changes in unfunded status of the supplemental retirement plans amounting to $429,000 in 2016, $904,000 in 2015, and $(2,984,000) in 2014, taxes (benefits) related to unrealized gains and losses on available-for-sale The Company recognized, as components of tax expense, tax credits and other tax benefits, and amortization expense relating to our investments in Qualified Affordable Housing Projects as followers for the periods indicated: Year ended December 31, 2016 2015 2014 (in thousands) Tax credits and other tax benefits – decrease in tax expense $ (954 ) $ (354 ) — Depreciation – increase in tax expense $ 757 $ 277 — Prior to 2015, the Company had no investments in Qualified Affordable Housing Projects. The carrying value of Low Income Housing Tax Credit Funds was $18,465,000 and $4,223,000 as of December 31, 2016 and 2015, respectively. As of December 31, 2016, the Company has committed to make additional capital contributions to the Low Income Housing Tax Credit Funds in the amount of $15,176,000, and these contributions are expected to be made over the next several years. The provisions for income taxes applicable to income before taxes for the years ended December 31, 2016, 2015 and 2014 differ from amounts computed by applying the statutory Federal income tax rates to income before taxes. The effective tax rate and the statutory federal income tax rate are reconciled as follows: Years Ended December 31, 2016 2015 2014 Federal statutory income tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal tax benefit 6.8 6.6 7.0 Tax-exempt (1.8 ) (0.7 ) (0.4 ) Tax-exempt (1.3 ) (1.3 ) (1.5 ) Low income housing tax credit benefits (1.3 ) (0.4 ) — Low income housing tax credit amortization 0.8 — — Non-deductible 0.1 0.1 0.2 Non-deductible — — 1.0 Other (0.1 ) 0.4 0.2 Effective Tax Rate 38.2 % 39.7 % 41.5 % The temporary differences, tax effected, which give rise to the Company’s net deferred tax asset recorded in other assets are as follows as of December 31 for the years indicated: 2016 2015 (in thousands) Deferred tax assets: Allowance for losses and reserve for unfunded commitments $ 14,809 $ 16,182 Deferred compensation 2,743 2,827 Accrued pension liability 9,220 8,597 Accrued bonus 1,727 1,326 Other accrued expenses 781 143 Unfunded status of the supplemental retirement plans 1,982 2,411 State taxes 2,257 2,297 Share based compensation 2,063 2,701 Nonaccrual interest 408 1,979 OREO write downs 132 241 Indemnification asset 313 219 Acquisition cost basis 3,996 5,118 Unrealized loss on securities 3,730 — Tax credits 491 491 Net operating loss carryforwards 3,354 5,252 Other 981 889 Total deferred tax assets 48,987 50,673 Deferred tax liabilities: Securities income (1,362 ) (1,362 ) Unrealized gain on securities — (902 ) Depreciation (3,032 ) (2,654 ) Merger related fixed asset valuations (54 ) (54 ) Securities accretion (478 ) (485 ) Mortgage servicing rights valuation (2,710 ) (3,118 ) Core deposit intangible (1,813 ) (2,331 ) Junior subordinated debt (2,616 ) (2,699 ) Prepaid expenses and other (723 ) (628 ) Total deferred tax liability (12,788 ) (14,233 ) Net deferred tax asset $ 36,199 $ 36,440 As part of the merger with North Valley in 2014, TriCo acquired federal and state net operating loss carryforwards, capital loss carryforwards, and tax credit carryforwards. These tax attribute carryforwards will be subject to provisions of the tax law that limit the use of such losses and credits generated by a company prior to the date certain ownership changes occur. The amount of the Company’s net operating loss carryforwards that would be subject to these limitations as of December 31, 2016 were $4.6 million and $26.0 million for federal and California, respectively. The amount of the Company’s capital loss carryforwards that would be subject to these limitations as of December 31, 2016 were $111,000 and $388,000 for federal and California, respectively. The amount of the Company’s tax credits that would be subject to these limitations as of December 31, 2016 are $69,000 and $2.7 million for federal and California, respectively. Due to the limitation, a significant portion of the state tax credits will expire regardless of whether the Company generates future taxable income. As such, the Company has recorded the future benefit of these tax credits on the books at the value which is more likely than not to be realized. These tax loss and tax credit carryforwards expire at various dates beginning in 2018. The Company believes that a valuation allowance is not needed to reduce the deferred tax assets as it is more likely than not that the results of future operations will generate sufficient taxable income to realize the deferred tax assets, including the tax attribute carryforwards acquired as part of the North Valley merger. As part of the North Valley merger, TriCo inherited an unrecognized tax benefit for tax positions claimed on prior year tax returns filed by North Valley. The Company had an unrecognized tax benefit of $114,000 as of December 31, 2016, the recognition of which would reduce the Company’s tax expense by $73,000. Management does not expect the unrecognized tax benefit will materially change in the next 12 months. A summary of changes in the Company’s unrecognized tax benefit (including interest and penalties) in 2016 is as follows: (in thousands) UTB Interest/Penalties Total As of December 31, 2015 $ 168 $ 14 $ 182 Lapse of the applicable statute of limitations (54 ) (7 ) (61 ) As of December 31, 2016 $ 114 7 121 During the years ended December 31, 2016 and December 31, 2015 the Company recognized no interest and penalties related to taxes. The Company files income tax returns in the U.S. federal jurisdiction, and California. With few exceptions, the Company is no longer subject to U.S. federal and state/local income tax examinations by tax authorities for years before 2013 and 2012, respectively. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Note 23 – Earnings per Share Basic earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects 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 solely from outstanding stock options, and are determined using the treasury stock method. Earnings per share have been computed based on the following: Years ended December 31, 2016 2015 2014 Net income (in thousands) $ 44,811 $ 43,818 $ 26,108 (number of shares in thousands) Average number of common shares outstanding 22,814 22,750 17,716 Effect of dilutive stock options 273 248 207 Average number of common shares outstanding used to calculate diluted earnings per share 23,087 22,998 17,923 Based on an average of quarterly computations, there were 13,825, 20,625, and 95,600 options and restricted stock units excluded from the computation of annual diluted earnings per share for the years ended December 31, 2016, 2015 and 2014, respectively, because the effect of these options and restricted stock units were antidilutive. |
Comprehensive Income
Comprehensive Income | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Comprehensive Income | Note 24 – 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 Years Ended December 31, 2016 2015 2014 (in thousands) Unrealized holding losses on available for sale securities before reclassifications $ (11,015 ) $ (1,895 ) $ (162 ) Amounts reclassified out of accumulated other comprehensive income — — — Unrealized holding losses on available for sale securities after reclassifications (11,015 ) (1,895 ) (162 ) Tax effect 4,631 797 68 Unrealized holding losses on available for sale securities, net of tax (6,384 ) (1,098 ) (94 ) Change in unfunded status of the supplemental retirement plans before reclassifications 511 1,384 (7,253 ) Amounts reclassified out of accumulated other comprehensive income: Amortization of prior service cost (40 ) (57 ) 138 Amortization of actuarial losses 550 823 17 Total amounts reclassified out of accumulated other comprehensive income 510 766 155 Change in unfunded status of the supplemental retirement plans after reclassifications 1,021 2,150 (7,098 ) Tax effect (429 ) (904 ) 2,984 Change in unfunded status of the supplemental retirement plans, net of tax 592 1,246 (4,114 ) Change in joint beneficiary agreement liability before reclassifications (343 ) 277 148 Amounts reclassified out of accumulated other comprehensive income — — — Change in joint beneficiary agreement liability after reclassifications (343 ) 277 148 Tax effect — — — Change in joint beneficiary agreement liability, net of tax (343 ) 277 148 Total other comprehensive income (loss) $ (6,135 ) $ 425 $ (4,060 ) The components of accumulated other comprehensive income, included in shareholders’ equity, are as follows: December 31, 2016 2015 (in thousands) Net unrealized gains on available for sale securities $ (8,870 ) $ 2,145 Tax effect 3,729 (902 ) Unrealized holding gains on available for sale securities, net of tax (5,141 ) 1,243 Unfunded status of the supplemental retirement plans (4,714 ) (5,735 ) Tax effect 1,982 2,411 Unfunded status of the supplemental retirement plans, net of tax (2,732 ) (3,324 ) Joint beneficiary agreement liability (40 ) 303 Tax effect — — Joint beneficiary agreement liability, net of tax (40 ) 303 Accumulated other comprehensive loss $ (7,913 ) $ (1,778 ) |
Retirement Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans | Note 25 – Retirement Plans 401(k) Plan The Company sponsors a 401(k) Plan whereby substantially all employees age 21 and over with 90 days of service may participate. Participants may contribute a portion of their compensation subject to certain limits based on federal tax laws. Prior to July 1, 2015, the Company did not contribute to the 401(k) Plan. Effective July 1, 2015, the Company initiated a discretionary matching contribution equal to 50% of participant’s elective deferrals each quarter, up to 4% of eligible compensation. The Company recorded $678,000, $300,000, and $0, of salaries & benefits expense attributable to the 401(k) Plan matching contribution during the years 2016, 2015, and 2014, respectively. The Company made $811,000, $0, and $0, of 401(k) Plan matching contributions during the years 2016, 2015, and 2014, respectively. Employee Stock Ownership Plan Substantially all employees with at least one year of service are covered by a discretionary employee stock ownership plan (ESOP). Contributions are made to the plan at the discretion of the Board of Directors. Contributions to the plan totaling $1,368,000, $2,651,000, and $1,294,000 were made during 2016, 2015, and 2014, respectively. Expenses related to the Company’s ESOP, are included in benefits and other compensation costs under salaries and benefits expense, and were $1,831,000, $2,282,000, and $1,467,000 during 2016, 2015, and 2014, respectively. Company shares owned by the ESOP are paid dividends and included in the calculation of earnings per share exactly as other common shares outstanding. Deferred Compensation Plans The Company has deferred compensation plans for certain directors and key executives, which allow certain directors and key executives designated by the Board of Directors of the Company to defer a portion of their compensation. The Company has purchased insurance on the lives of the participants and intends to hold these policies until death as a cost recovery of the Company’s deferred compensation obligations of $6,525,000, and $6,725,000 at December 31, 2016 and 2015, respectively. Earnings credits on deferred balances totaling $487,000 in 2016, $538,000 in 2015, and $551,000 in 2014, respectively, are included in noninterest expense. Supplemental Retirement Plans The Company has supplemental retirement plans for certain directors and key executives. These plans are non-qualified The Company recorded in other liabilities the unfunded status of the supplemental retirement plans of $4,714,000 and $5,735,000 related to the supplemental retirement plans as of December 31, 2016 and 2015, respectively. These amounts represent the amount by which the projected benefit obligations for these retirement plans exceeded the fair value of plan assets plus amounts previously accrued related to the plans. The projected benefit obligation is recorded in other liabilities. At December 31, 2016 and 2015, the unfunded status of the supplemental retirement plans of $4,714,000 and $5,735,000 were offset by a reduction of shareholders’ equity accumulated other comprehensive loss of $2,732,000 and $3,324,000, respectively, representing the after-tax year-end December 31, (in thousands) 2016 2015 Transition obligation $ 7 $ 7 Prior service cost (75 ) (115 ) Net actuarial loss 4,782 5,843 Amount included in accumulated other comprehensive loss 4,714 5,735 Deferred tax benefit (1,982 ) (2,411 ) Amount included in accumulated other comprehensive loss, net of tax $ 2,732 $ 3,324 Information pertaining to the activity in the supplemental retirement plans, using a measurement date of December 31, is as follows: December 31, 2016 2015 (in thousands) Change in benefit obligation: Benefit obligation at beginning of year $ (26,184 ) $ (26,798 ) Acquisition — — Service cost (1,042 ) (1,023 ) Interest cost (1,025 ) (957 ) Actuarial (loss)/gain 511 1,382 Benefits paid 1,095 1,212 Benefit obligation at end of year $ (26,645 ) $ (26,184 ) Change in plan assets: Fair value of plan assets at beginning of year $ — $ — Fair value of plan assets at end of year $ — $ — Funded status $ (26,645 ) $ (26,184 ) Unrecognized net obligation existing at January 1, 1986 7 7 Unrecognized net actuarial loss 4,782 5,843 Unrecognized prior service cost (75 ) (115 ) Accumulated other comprehensive income (4,714 ) (5,735 ) Accrued benefit cost $ (26,645 ) $ (26,184 ) Accumulated benefit obligation $ (25,241 ) $ (24,469 ) The following table sets forth the net periodic benefit cost recognized for the supplemental retirement plans: Years Ended December 31, 2016 2015 2014 (in thousands) Net pension cost included the following components: Service cost-benefits earned during the period $ 1,042 $ 1,023 $ 652 Interest cost on projected benefit obligation 1,025 957 739 Amortization of net obligation at transition 2 2 2 Amortization of prior service cost (41 ) (57 ) 138 Recognized net actuarial loss 549 823 16 Net periodic pension cost $ 2,577 $ 2,748 $ 1,547 The following table sets forth assumptions used in accounting for the plans: Years Ended December 31, 2016 2015 2014 Discount rate used to calculate benefit obligation 3.80 % 4.00 % 3.65 % Discount rate used to calculate net periodic pension cost 3.80 % 4.00 % 3.65 % Average annual increase in executive compensation 2.50 % 2.50 % 2.50 % Average annual increase in director compensation 2.50 % 2.50 % 2.50 % The following table sets forth the expected benefit payments to participants and estimated contributions to be made by the Company under the supplemental retirement plans for the years indicated: Years Ended Expected Benefit Estimated (in thousands) 2017 $ 1,067 $ 1,067 2018 958 958 2019 823 823 2020 701 701 2021 520 520 2022-2026 $ 3,212 $ 3,212 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 26 – Related Party Transactions Certain directors, officers, and companies with which they are associated were customers of, and had banking transactions with, the Company or the Bank in the ordinary course of business. The following table summarizes the activity in these loans for the periods indicated (in thousands): Balance December 31, 2014 3,132 Advances/new loans 3,098 Removed/payments (2,029 ) Balance December 31, 2015 $ 4,201 Advances/new loans 730 Removed/payments (2,499 ) Balance December 31, 2016 $ 2,432 Until the end of 2015, Director Chrysler was a principal owner and CEO of Modern Building Inc., a construction company, where he continues to be employed in a nonexecutive position. Modern Building Inc. provided construction services to the Company related to new and existing Bank facilities for aggregate payments of $2,289,000, $1,030,000, and $1,181,000, during 2016, 2015 and 2014, respectively. |
Fair Value Measurement
Fair Value Measurement | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Note 27 – 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. Securities available-for-sale 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. Securities available for sale over-the-counter Loans held for sale Impaired originated and PNCI loans Foreclosed assets Mortgage servicing rights The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis (in thousands): Fair value at December 31, 2016 Total Level 1 Level 2 Level 3 Securities available-for-sale: Obligations of U.S. government corporations and agencies $ 429,678 — $ 429,678 — Obligations of states and political subdivisions 117,617 — 117,617 — Marketable equity securities 2,938 $ 2,938 — — Mortgage servicing rights 6,595 — — $ 6,595 Total assets measured at fair value $ 556,828 $ 2,938 $ 547,295 $ 6,595 Fair value at December 31, 2015 Total Level 1 Level 2 Level 3 Securities available-for-sale: Obligations of U.S. government corporations and agencies $ 313,682 — $ 313,682 — Obligations of states and political subdivisions 88,218 — 88,218 — Marketable equity securities 2,985 $ 2,985 — — Mortgage servicing rights 7,618 — — $ 7,618 Total assets measured at fair value $ 412,503 $ 2,985 $ 401,900 $ 7,618 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 2016 or 2015. 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 years ended December 31, 2016 and 2015. Had there been any transfer into or out of Level 3 during 2016 or 2015, 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): Year ended December 31, Ending Transfers Change Issuances Beginning 2016: Mortgage servicing rights $ 6,595 — $ (2,184 ) $ 1,161 $ 7,618 2015: Mortgage servicing rights $ 7,618 — $ (701 ) $ 941 $ 7,378 The Company’s method for determining the fair value of mortgage servicing rights is described in Note 1. 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). Note 10 contains additional information regarding mortgage servicing rights. The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2016: Fair Value Valuation Technique Unobservable Inputs Range, Mortgage Servicing Rights $6,595 Discounted cash flow Constant prepayment rate 6.9%-16.6%, 8.8% Discount rate 14.0%-16.0%, 14.0% The tables below present the recorded amount of assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated, that had a write-down or an additional allowance provided during the periods indicated (in thousands): Year ended December 31, 2016 Total Level 1 Level 2 Level 3 Total Gains Fair value: Impaired Originated & PNCI loans $ 1,107 — — $ 1,107 $ (409 ) Foreclosed assets 2,253 2,253 (86 ) Total assets measured at fair value $ 3,360 — — $ 3,360 $ (495 ) Year ended December 31, 2015 Total Level 1 Level 2 Level 3 Total Gains Fair value: Impaired Originated & PNCI loans $ 4,649 — — $ 4,649 $ (663 ) Foreclosed assets 1,839 1,839 (418 ) Total assets measured at fair value $ 6,488 — — $ 6,488 $ (1,081 ) The impaired Originated and PNCI loan amount above represents impaired, collateral dependent loans that have been adjusted to fair value. When we identify a collateral dependent loan as impaired, we measure the impairment 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 we determine that the value of the impaired loan is less than the recorded investment in the loan, we recognize this impairment and adjust the carrying value of the loan to fair value through the allowance for loan and lease 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 The foreclosed assets amount above represents impaired real estate that has been adjusted to fair value. Foreclosed assets represent real estate which the Bank 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 loan and lease 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 non-covered 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 December 31, 2016: Fair Value (in thousands) Valuation Technique Unobservable Inputs Range, Impaired Originated & PNCI loans $1,107 Sales comparison Adjustment for differences approach between comparable sales Not meaningful Income approach Capitalization rate N/A Foreclosed assets $15 Sales comparison Adjustment for differences (Land & construction) approach between comparable sales Not meaningful Foreclosed assets (residential $1,564 Sales comparison Adjustment for differences (Residential real estate) approach between comparable sales Not meaningful Foreclosed assets $674 Sales comparison Adjustment for differences (Commercial real estate) approach between comparable sales Not meaningful In addition to the methods and assumptions used to estimate the fair value of each class of financial instrument noted above, the following methods and assumptions were used to estimate the fair value of other classes of financial instruments for which it is practical to estimate the fair value. Short-term Instruments Securities held to maturity over-the-counter Restricted Equity Securities Originated and PNCI loans—The fair value of variable rate originated and PNCI loans is the current carrying value. The interest rates on these originated and PNCI loans are regularly adjusted to market rates. The fair value of other types of fixed rate originated and PNCI loans is estimated by discounting the future cash flows using current rates at which similar loans would be made to borrowers with similar credit ratings for the same remaining maturities. The allowance for loan losses is a reasonable estimate of the valuation allowance needed to adjust computed fair values for credit quality of certain originated and PNCI loans in the portfolio. PCI Loans FDIC Indemnification Asset— Deposit Liabilities—The fair value of demand deposits, savings accounts, and certain money market deposits is the amount payable on demand at the reporting date. These values do not consider the estimated fair value of the Company’s core deposit intangible, which is a significant unrecognized asset of the Company. The fair value of time deposits and other borrowings is based on the discounted value of contractual cash flows. Other Borrowings—The fair value of other borrowings is calculated based on the discounted value of the contractual cash flows using current rates at which such borrowings can currently be obtained. Junior Subordinated Debentures Commitments to Extend Credit and Standby Letters of Credit 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. 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. The estimated fair values of financial instruments that are reported at amortized cost in the Corporation’s consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows (in thousands): December 31, 2016 December 31, 2015 Carrying Fair Carrying Fair Financial assets: Level 1 inputs: Cash and due from banks $ 92,197 $ 92,197 $ 94,305 $ 94,305 Cash at Federal Reserve and other banks 213,415 213,415 209,156 209,156 Level 2 inputs: Securities held to maturity 602,536 603,203 726,530 732,208 Restricted equity securities 16,956 N/A 16,596 N/A Loans held for sale 2,998 2,998 1,873 1,873 Level 3 inputs: Loans, net 2,727,090 2,763,473 2,486,926 2,555,297 Financial liabilities: Level 2 inputs: Deposits 3,895,560 3,893,941 3,631,266 3,630,129 Other borrowings 17,493 17,493 12,328 12,328 Level 3 inputs: Junior subordinated debt $ 56,667 $ 49,033 $ 56,470 $ 44,527 Contract Fair Contract Fair Amount Value Amount Value Off-balance Level 3 inputs: Commitments $ 767,274 $ 7,673 $ 705,316 $ 7,053 Standby letters of credit $ 12,763 $ 128 $ 8,330 $ 83 Overdraft privilege commitments $ 98,583 $ 986 $ 94,473 $ 945 |
TriCo Bancshares Condensed Fina
TriCo Bancshares Condensed Financial Statements (Parent Only) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
TriCo Bancshares Condensed Financial Statements (Parent Only) | Note 28 – TriCo Bancshares Condensed Financial Statements (Parent Only) Condensed Balance Sheets December 31, 2016 2015 Assets (in thousands) Cash and Cash equivalents $ 2,802 $ 2,565 Investment in Tri Counties Bank 529,907 504,655 Other assets 1,711 1,714 Total assets $ 534,420 $ 508,934 Liabilities and shareholders’ equity Other liabilities $ 406 $ 348 Junior subordinated debt 56,667 56,470 Total liabilities 57,073 56,818 Shareholders’ equity: Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 22,867,802 and 22,775,173 shares, respectively 252,820 247,587 Retained earnings 232,440 206,307 Accumulated other comprehensive loss, net (7,913 ) (1,778 ) Total shareholders’ equity 477,347 452,116 Total liabilities and shareholders’ equity $ 534,420 $ 508,934 Condensed Statements of Income Years ended December 31, 2016 2015 2014 (in thousands) Interest expense $ (2,229 ) $ (1,977 ) $ (1,403 ) Administration expense (725 ) (814 ) (2,720 ) Loss before equity in net income of Tri Counties Bank (2,954 ) (2,791 ) (4,123 ) Equity in net income of Tri Counties Bank: Distributed 16,758 13,304 8,270 Undistributed 29,764 32,131 20,720 Income tax benefit 1,243 1,174 1,241 Net income $ 44,811 $ 43,818 $ 26,108 Condensed Statements of Comprehensive Income Years ended December 31, 2016 2015 2014 (in thousands) Net income $ 44,811 $ 43,818 $ 26,108 Other comprehensive (loss) income, net of tax: Unrealized holding (losses) gains on securities arising during the period (6,384 ) (1,098 ) (94 ) Change in minimum pension liability 592 1,246 (4,114 ) Change in joint beneficiary agreement liability (343 ) 277 148 Other comprehensive (loss) income (6,135 ) 425 (4,060 ) Net income $ 38,676 $ 44,243 $ 22,048 Condensed Statements of Cash Flows Years ended December 31, 2016 2015 2014 Operating activities: (in thousands) Net income $ 44,811 $ 43,818 $ 26,108 Adjustments to reconcile net income to net cash provided by operating activities: Undistributed equity in earnings of Tri Counties Bank (29,764 ) (32,131 ) (20,720 ) Equity compensation vesting expense 1,467 1,370 1,133 Equity compensation tax effect (155 ) 68 (225 ) Net change in other assets and liabilities (1,210 ) (1,120 ) 671 Net cash provided by operating activities 15,149 12,005 6,967 Investing activities: None Financing activities: Issuance of common stock through option exercise 518 660 616 Equity compensation tax effect 155 (68 ) 225 Repurchase of common stock (1,890 ) (412 ) (292 ) Cash dividends paid — common (13,695 ) (11,849 ) (7,807 ) Net cash used for financing activities (14,912 ) (11,669 ) (7,258 ) (decrease) increase in cash and cash equivalents 237 336 (291 ) Cash and cash equivalents at beginning of year 2,565 2,229 2,520 Cash and cash equivalents at end of year $ 2,802 $ 2,565 $ 2,229 |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | Note 29 – 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 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 1capital to risk-weighted assets, and of Tier 1 capital to average assets. The following tables presents actual and required capital ratios as of December 31, 2016 and 2015 for the Company and the Bank under Basel III Capital Rules. The minimum capital amounts presented include the minimum required capital levels as of December 31, 2016 and 2015 based on the phased-in phased-in. Minimum Capital Minimum Capital Required to be Required – Basel III Required – Basel III Considered Well Actual Phase-in Fully Phased In Capitalized Amount Ratio Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of December 31, 2016: Total Capital (to Risk Weighted Assets): Consolidated $ 503,283 14.65 % $ 274,862 8.00 % $ 360,756 10.50 % N/A N/A Tri Counties Bank $ 500,876 14.59 % $ 274,725 8.00 % $ 360,577 10.50 % $ 343,407 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 468,061 13.62 % $ 206,147 6.00 % $ 292,041 8.50 % N/A N/A Tri Counties Bank $ 465,654 13.56 % $ 206,044 6.00 % $ 291,896 8.50 % $ 274,725 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 414,632 12.07 % $ 154,610 4.50 % $ 240,504 7.00 % N/A N/A Tri Counties Bank $ 465,654 13.56 % $ 154,533 4.50 % $ 240,385 7.00 % $ 223,214 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 468,061 10.62 % $ 176,346 4.00 % $ 176,346 4.00 % N/A N/A Tri Counties Bank $ 465,654 10.56 % $ 176,341 4.00 % $ 176,341 4.00 % $ 220,426 5.00 % As of December 31, 2015: Total Capital (to Risk Weighted Assets): Consolidated $ 474,436 15.09 % $ 251,555 8.00 % $ 330,165 10.50 % N/A N/A Tri Counties Bank $ 473,327 15.06 % $ 251,418 8.00 % $ 329,985 10.50 % $ 314,272 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 435,950 13.86 % $ 188,666 6.00 % $ 267,277 8.50 % N/A N/A Tri Counties Bank $ 434,841 13.84 % $ 188,563 6.00 % $ 267,131 8.50 % $ 251,418 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 385,747 12.27 % $ 141,499 4.50 % $ 220,110 7.00 % N/A N/A Tri Counties Bank $ 434,841 13.84 % $ 141,422 4.50 % $ 219,990 7.00 % $ 204,277 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 435,950 10.79 % $ 161,562 4.00 % $ 161,562 4.00 % N/A N/A Tri Counties Bank $ 434,841 10.76 % $ 161,601 4.00 % $ 161,601 4.00 % $ 202,002 5.00 % As of December 31, 2016, capital levels at the Company and the Bank exceed all capital adequacy requirements under the Basel III Capital Rules on a fully phased-in |
Summary of Quarterly Results of
Summary of Quarterly Results of Operations (unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Quarterly Results of Operations (unaudited) | Note 30 – Summary of Quarterly Results of Operations (unaudited) The following table sets forth the results of operations for the four quarters of 2015 and 2014, and is unaudited; however, in the opinion of Management, it reflects all adjustments (which include only normal recurring adjustments) necessary to present fairly the summarized results for such periods. 2016 Quarters Ended December 31, September 30, June 30, March 31, (dollars in thousands, except per share data) Interest and dividend income: Loans: Discount accretion PCI – cash basis $ 483 $ 777 $ 426 $ 269 Discount accretion PCI – other 658 569 415 (45 ) Discount accretion PNCI 637 883 1,459 868 All other loan interest income 34,463 33,540 32,038 33,646 Total loan interest income 36,241 35,769 34,338 34,738 Debt securities, dividends and interest bearing cash at Banks (not FTE) 8,374 7,940 8,252 8,056 Total interest income 44,615 43,709 42,590 42,794 Interest expense 1,460 1,439 1,430 1,392 Net interest income 43,155 42,270 41,160 41,402 (Benefit from reversal of) provision for loan losses (1,433 ) 3,973 ) (773 ) 209 Net interest income after provision for loan losses 44,588 46,243 41,933 41,193 Noninterest income 12,462 11,066 11,245 9,790 Noninterest expense 36,563 37,416 38,267 33,751 Income before income taxes 20,487 19,893 14,911 17,232 Income tax expense 7,954 7,694 5,506 6,558 Net income $ 12,533 $ 12,199 $ 9,405 $ 10,674 Per common share: Net income (diluted) $ 0.54 $ 0.53 $ 0.41 $ 0.46 Dividends $ 0.15 $ 0.15 $ 0.15 $ 0.15 2015 Quarters Ended December 31, September 30, June 30, March 31, (dollars in thousands, except per share data) Interest and dividend income: Loans: Discount accretion PCI – cash basis $ 302 $ 445 $ 404 $ 172 Discount accretion PCI – other 1,392 1,090 907 1,274 Discount accretion PNCI 573 1,590 822 1,348 All other loan interest income 32,571 30,689 29,886 28,371 Total loan interest income 34,838 33,814 32,019 31,165 Debt securities, dividends and interest bearing cash at banks (not FTE) 7,652 7,518 7,848 6,560 Total interest income 42,490 41,332 39,867 37,725 Interest expense 1,349 1,339 1,346 1,382 Net interest income 41,141 39,993 38,521 36,343 (Benefit from) provision for loan losses (908 ) (866 ) (633 ) 197 Net interest income after provision for loan losses 42,049 40,859 39,154 36,146 Noninterest income 11,445 11,642 12,080 10,180 Noninterest expense 34,684 31,439 32,436 32,282 Income before income taxes 18,810 21,062 18,798 14,044 Income tax expense 7,388 8,368 7,432 5,708 Net income $ 11,422 $ 12,694 $ 11,366 $ 8,336 Per common share: Net income (diluted) $ 0.50 $ 0.55 $ 0.49 $ 0.36 Dividends $ 0.15 $ 0.13 $ 0.13 $ 0.11 |
Summary of Significant Accoun39
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Description of Business and Basis of Presentation | 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 26 California counties. Tri Counties Bank currently operates from 58 traditional branches and 10 in-store 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. 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 $1,702,000 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 | 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. |
Significant Group Concentration of Credit Risk | Significant Group Concentration of Credit Risk The Company grants agribusiness, commercial, consumer, and residential loans to customers located throughout the northern San Joaquin Valley, the Sacramento Valley and northern mountain regions of 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. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of the consolidated statements of cash flows, cash and cash equivalents include cash on hand, amounts due from banks, and federal funds sold. Net cash flows are reported for loan and deposit transactions and other borrowings. |
Investment Securities | Investment Securities The Company classifies its debt and marketable equity securities into one of three categories: trading, available for sale or held to maturity. Trading securities are bought and held principally for the purpose of selling in the near term. Held to maturity securities are those securities which the Company has the ability and intent to hold until maturity. These securities are carried at cost adjusted for amortization of premium and accretion of discount, computed by the effective interest method over their contractual lives. All other securities not included in trading or held to maturity are classified as available for sale. Available for sale securities are recorded at fair value. Unrealized gains and losses, net of the related tax effect, on available for sale securities are reported as a separate component of other accumulated comprehensive income in shareholders’ equity until realized. Premiums and discounts are amortized or accreted over the life of the related investment security as an adjustment to yield using the effective interest method. Dividend and interest income are recognized when earned. Realized gains and losses are derived from the amortized cost of the security sold. During the year ended December 31, 2016 and throughout 2015, the Company did not have any securities classified as trading. The Company assesses other-than-temporary impairment (“OTTI”) based on whether it intends to sell a security or if it is likely that the Company would be required to sell the security before recovery of the amortized cost basis of the investment, which may be maturity. For debt securities, if we intend to sell the security or it is more likely than not that we will be required to sell the security before recovering its cost basis, the entire impairment loss would be recognized in earnings as an OTTI. If we do not intend to sell the security and it is not likely that we will be required to sell the security but we do not expect to recover the entire amortized cost basis of the security, only the portion of the impairment loss representing credit losses would be recognized in earnings. The credit loss on a security is measured as the difference between the amortized cost basis and the present value of the cash flows expected to be collected. Projected cash flows are discounted by the original or current effective interest rate depending on the nature of the security being measured for potential OTTI. The remaining impairment related to all other factors, the difference between the present value of the cash flows expected to be collected and fair value, is recognized as a charge to other comprehensive income (“OCI”). Impairment losses related to all other factors are presented as separate categories within OCI. The accretion of the amount recorded in OCI increases the carrying value of the investment and does not affect earnings. If there is an indication of additional credit losses the security is re-evaluated |
Restricted Equity Securities | Restricted Equity Securities Restricted equity securities represent the Company’s investment in the stock of the Federal Home Loan Bank of San Francisco (“FHLB”) and are carried at par value, which reasonably approximates its fair value. While technically these are considered equity securities, there is no market for the FHLB stock. Therefore, the shares are considered as restricted investment securities. Management periodically evaluates FHLB stock for other-than-temporary impairment. Management’s determination of whether these investments are impaired is based on its assessment of the ultimate recoverability of cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as (1) the significance of any decline in net assets of the FHLB as compared to the capital stock amount for the FHLB and the length of time this situation has persisted, (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance of the FHLB, (3) the impact of legislative and regulatory changes on institutions and, accordingly, the customer base of the FHLB, and (4) the liquidity position of the FHLB. As a member of the FHLB system, the Bank is required to maintain a minimum level of investment in FHLB stock based on specific percentages of its outstanding mortgages, total assets, or FHLB advances. The Bank may request redemption at par value of any stock in excess of the minimum required investment. Stock redemptions are at the discretion of the FHLB. |
Loans Held for Sale | Loans Held for Sale Loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or fair value, as determined by aggregate outstanding commitments from investors of current investor yield requirements. Net unrealized losses are recognized through a valuation allowance by charges to noninterest income. Mortgage loans held for sale are generally sold with the mortgage servicing rights retained by the Company. Gains or losses on the sale of loans that are held for sale are recognized at the time of the sale and determined by the difference between net sale proceeds and the net book value of the loans less the estimated fair value of any retained mortgage servicing rights. |
Loans and Allowance for Loan Losses | Loans and Allowance for Loan Losses Loans originated by the Company, i.e., not purchased or acquired in a business combination, are referred to as originated loans. Originated loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal amount outstanding, net of deferred loan fees and costs. Loan origination and commitment fees and certain direct loan origination costs are deferred, and the net amount is amortized as an adjustment of the related loan’s yield over the actual life of the loan. Originated loans on which the accrual of interest has been discontinued are designated as nonaccrual loans. Originated 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 an originated loan is placed on nonaccrual status, all interest previously accrued but not collected is reversed. Income on such loans is then recognized only to the extent that cash is received and where the future collection of principal is 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. An allowance for loan losses for originated loans is established through a provision for loan losses charged to expense. The allowance is maintained at a level which, in Management’s judgment, is adequate to absorb probable incurred credit losses inherent in the loan portfolio as of the balance sheet date. Originated loans and deposit related overdrafts are charged against the allowance for loan losses when Management believes that the collectability of the principal is unlikely or, with respect to consumer installment loans, according to an established delinquency schedule. The allowance is an amount that Management believes will be adequate to absorb probable incurred losses inherent in existing loans, based on evaluations of the collectability, impairment and prior loss experience of loans. The evaluations take into consideration such factors as changes in the nature and size of the portfolio, overall portfolio quality, loan concentrations, specific problem loans, and current economic conditions that may affect the borrower’s ability to pay. The Company defines an originated loan as impaired when it is probable the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired originated loans are measured based on the present value of expected future cash flows discounted at the loan’s original effective interest rate. As a practical expedient, impairment may be measured based on the loan’s observable market price or the fair value of the collateral if the loan is collateral dependent. When the measure of the impaired loan is less than the recorded investment in the loan, the impairment is recorded through a valuation allowance. In situations related to originated loans where, for economic or legal reasons related to a borrower’s financial difficulties, the Company grants a concession for other than an insignificant period of time to the borrower that the Company would not otherwise consider, the related loan is classified as a troubled debt restructuring (TDR). The Company strives to identify borrowers in financial difficulty early and work with them to modify to more affordable terms before their loan reaches nonaccrual status. These modified terms may include rate reductions, principal forgiveness, payment forbearance and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of the collateral. In cases where the Company grants the borrower new terms that result in the loan being classified as a TDR, the Company measures any impairment on the restructuring as noted above for impaired loans. TDR loans are classified as impaired until they are fully paid off or charged off. Loans that are in nonaccrual status at the time they become TDR loans, remain in nonaccrual status until the borrower demonstrates a sustained period of performance which the Company generally believes to be six consecutive months of payments, or equivalent. Otherwise, TDR loans are subject to the same nonaccrual and charge-off Credit risk is inherent in the business of lending. As a result, the Company maintains an allowance for loan losses to absorb probable incurred losses inherent in the Company’s originated loan portfolio. This is maintained through periodic charges to earnings. These charges are included in the Consolidated Statements of Income as provision for loan losses. All specifically identifiable and quantifiable losses are immediately charged off against the allowance. However, for a variety of reasons, not all losses are immediately known to the Company and, of those that are known, the full extent of the loss may not be quantifiable at that point in time. The balance of the Company’s allowance for originated loan losses is meant to be an estimate of these probable incurred losses inherent in the portfolio. The Company formally assesses the adequacy of the allowance for originated loan losses on a quarterly basis. Determination of the adequacy is based on ongoing assessments of the probable risk in the outstanding originated loan portfolio, and to a lesser extent the Company’s originated loan commitments. These assessments include the periodic re-grading re-graded Re-grading The Company’s method for assessing the appropriateness of the allowance for originated loan losses includes specific allowances for impaired originated loans, formula allowance factors for pools of credits, and allowances for changing environmental factors (e.g., interest rates, growth, economic conditions, etc.). Allowance factors for loan pools were based on historical loss experience by product type and prior risk rating. During the three months ended September 30, 2015, the Company modified its methodology used to determine the allowance for home equity lines of credit that are about to exit their revolving period, or have recently entered into their amortization period and are now classified as home equity loans. This change in methodology increased the required allowance for such lines and loans by $859,000, and $459,000, respectively, and represents the increase in estimated incurred losses in these lines and loans as of September 30, 2015 due to higher required contractual principal and interest payments of such lines and loans. Loans purchased or acquired in a business combination are referred to as acquired loans. Acquired loans are valued as of the acquisition date in accordance with Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) Topic 805, Business Combinations 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality 310-30, 310-30 310-30 Acquired loans that are not PCI loans are referred to as purchased not credit impaired (PNCI) loans. PNCI loans are accounted for under FASB ASC Topic 310-20, Receivables – Nonrefundable Fees and Other Costs, 310-20, Throughout these financial statements, and in particular in Note 4 and Note 5, when we refer to “Loans” or “Allowance for loan losses” we mean all categories of loans, including Originated, PNCI, PCI – cash basis, and PCI—other. When we are not referring to all categories of loans, we will indicate which we are referring to – Originated, PNCI, PCI – cash basis, or PCI—other. When referring to PNCI and PCI loans we use the terms “nonaccretable difference”, “accretable yield”, or “purchase discount”. Nonaccretable difference is the difference between undiscounted contractual cash flows due and undiscounted cash flows we expect to collect, or put another way, it is the undiscounted contractual cash flows we do not expect to collect. Accretable yield is the difference between undiscounted cash flows we expect to collect and the value at which we have recorded the loan on our financial statements. On the date of acquisition, all purchased loans are recorded on our consolidated financial statements at estimated fair value. Purchase discount is the difference between the estimated fair value of loans on the date of acquisition and the principal amount owed by the borrower, net of charge offs, on the date of acquisition. We may also refer to “discounts to principal balance of loans owed, net of charge-offs”. Discounts to principal balance of loans owed, net of charge-offs is the difference between principal balance of loans owed, net of charge-offs, and loans as recorded on our financial statements. Discounts to principal balance of loans owed, net of charge-offs arise from purchase discounts, and equal the purchase discount on the acquisition date. Loans are also categorized as “covered” or “noncovered”. Covered loans refer to loans covered by a Federal Deposit Insurance Corporation (“FDIC”) loss sharing agreement. Noncovered loans refer to loans not covered by a FDIC loss sharing agreement. |
Foreclosed Assets | 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 less estimated costs to sell at the date of foreclosure, establishing a new cost basis. Physical possession of residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Any write-downs based on the asset’s fair value less costs to sell at the date of acquisition are charged to the allowance for loan and lease losses. Any recoveries based on the asset’s fair value less estimated costs to sell in excess of the recorded value of the loan at the date of acquisition are recorded to the allowance for loan and lease losses. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating costs after acquisition are expensed. Revenue and expenses from operations and changes in the valuation allowance are included in other noninterest expense. Gain or loss on sale of foreclosed assets is included in noninterest income. Foreclosed assets that are not subject to a FDIC loss-share agreement are referred to as noncovered foreclosed assets. Foreclosed assets acquired through FDIC-assisted acquisitions that are subject to a FDIC loss-share agreement, and all assets acquired via foreclosure of covered loans are referred to as covered foreclosed assets. Covered foreclosed assets are reported exclusive of expected reimbursement cash flows from the FDIC. Foreclosed covered loan collateral is transferred into covered foreclosed assets at the loan’s carrying value, inclusive of the acquisition date fair value discount. Covered foreclosed assets are initially recorded at estimated fair value less estimated costs to sell on the acquisition date based on similar market comparable valuations less estimated selling costs. Any subsequent valuation adjustments due to declines in fair value will be charged to noninterest expense, and will be mostly offset by noninterest income representing the corresponding increase to the FDIC indemnification asset for the offsetting loss reimbursement amount. Any recoveries of previous valuation adjustments will be credited to noninterest expense with a corresponding charge to noninterest income for the portion of the recovery that is due to the FDIC. |
Premises and Equipment | Premises and Equipment Land is carried at cost. Land improvements, buildings and equipment, including those acquired under capital lease, are stated at cost less accumulated depreciation and amortization. Depreciation and amortization expenses are computed using the straight-line method over the estimated useful lives of the related assets or lease terms. Asset lives range from 3-10 15-40 |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the excess of costs over fair value of net assets of businesses acquired. Goodwill and other intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but instead tested for impairment at least annually. Intangible assets with estimable useful lives are amortized over their respective estimated useful lives to their estimated residual values, and reviewed for impairment. The Company has an identifiable intangible asset consisting of core deposit intangibles (CDI). CDI are amortized over their respective estimated useful lives, and reviewed for impairment. |
Impairment of Long-Lived Assets and Goodwill | Impairment of Long-Lived Assets and Goodwill Long-lived assets, such as premises and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the consolidated balance sheet. As of December 31 of each year, goodwill is tested for impairment, and is tested for impairment more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. This determination is made at the reporting unit level. The Company may choose to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then goodwill is deemed not to be impaired. However, if the Company concludes otherwise, or if the Company elected not to first assess qualitative factors, then the Company performs the first step of a two-step |
Mortgage Servicing Rights | Mortgage Servicing Rights Mortgage servicing rights (MSR) represent the Company’s right to a future stream of cash flows based upon the contractual servicing fee associated with servicing mortgage loans. Our MSR arise from residential and commercial mortgage loans that we originate and sell, but retain the right to service the loans. The net gain from the retention of the servicing right is included in gain on sale of loans in noninterest income when the loan is sold. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, the custodial earnings rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. Servicing fees are recorded in noninterest income when earned. The Company accounts for MSR at fair value. The determination of fair value of our MSR requires management judgment because they are not actively traded. The determination of fair value for MSR requires valuation processes which combine the use of discounted cash flow models and extensive analysis of current market data to arrive at an estimate of fair value. The cash flow and prepayment assumptions used in our discounted cash flow model are based on empirical data drawn from the historical performance of our MSR, which we believe are consistent with assumptions used by market participants valuing similar MSR, and from data obtained on the performance of similar MSR. The key assumptions used in the valuation of MSR include mortgage prepayment speeds and the discount rate. These variables can, and generally will, change from quarter to quarter as market conditions and projected interest rates change. The key risks inherent with MSR are prepayment speed and changes in interest rates. The Company uses an independent third party to determine fair value of MSR. |
Indemnification Asset/Liability | Indemnification Asset/Liability The Company accounts for amounts receivable or payable under its loss-share agreements entered into with the FDIC in connection with its purchase and assumption of certain assets and liabilities of Granite as indemnification assets in accordance with FASB ASC Topic 805, Business Combinations |
Reserve for Unfunded Commitments | Reserve for Unfunded Commitments The reserve for unfunded commitments is established through a provision for losses – unfunded commitments charged to noninterest expense. The reserve for unfunded commitments is an amount that Management believes will be adequate to absorb probable losses inherent in existing commitments, including unused portions of revolving lines of credits and other loans, standby letters of credits, and unused deposit account overdraft privilege. The reserve for unfunded commitments is based on evaluations of the collectability, and prior loss experience of unfunded commitments. The evaluations take into consideration such factors as changes in the nature and size of the loan portfolio, overall loan portfolio quality, loan concentrations, specific problem loans and related unfunded commitments, and current economic conditions that may affect the borrower’s or depositor’s ability to pay. |
Low Income Housing Tax Credits | Low Income Housing Tax Credits The Company accounts for low income housing tax credits and the related qualified affordable housing projects using the proportional amortization method. Under the proportional amortization method, the Company amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). Upon entering into a qualified affordable housing project, the Company records, in other liabilities, the entire amount that it has agreed to invest in the project, and an equal amount, in other assets, representing its investment in the project. As the Company disburses cash to satisfy its investment obligation, other liabilities are reduced. Over time, as the tax credits and other tax benefits of the project are realized by the Company, the investment recorded in other assets is reduced using the proportional amortization method. |
Income Taxes | Income Taxes The Company’s accounting for income taxes is based on an asset and liability approach. The Company recognizes the amount of taxes payable or refundable for the current year, and deferred tax assets and liabilities for the future tax consequences that have been recognized in its financial statements or tax returns. The measurement of tax assets and liabilities is based on the provisions of enacted tax laws. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. Interest and/or penalties related to income taxes are reported as a component of noninterest income. |
Off-Balance Sheet Credit Related Financial Instruments | Off-Balance In the ordinary course of business, the Company has entered into commitments to extend credit, including commitments under credit card arrangements, commercial letters of credit, and standby letters of credit. Such financial instruments are recorded when they are funded. |
Geographical Descriptions | Geographical Descriptions For the purpose of describing the geographical location of the Company’s loans, the Company has defined northern California as that area of California north of, and including, Stockton; central California as that area of the state south of Stockton, to and including, Bakersfield; and southern California as that area of the state south of Bakersfield. |
Reclassifications | Reclassifications Certain amounts reported in previous consolidated financial statements have been reclassified to conform to the presentation in this report. These reclassifications did not affect previously reported net income or total shareholders’ equity. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements FASB issued Accounting Standard Update (ASU) No. 2016-02 , Leases (Topic 842) ASU 2016-2, on-balance ASU 2016-02 2016-02 FASB issued Accounting Standard Update (ASU) No. 2016-09 , Compensation – Stock Compensation (Topic 718). ASU 2016-09, ASU 2016-09 FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) 2016-13 2016-13, 2016-13 available-for-sale 2016-13 2016-13 2016-13 2016-13 FASB issued ASU No. 2016-18, Statement of Cash Flows – Restricted Cash (Topic 230). ASU 2016-18 beginning-of-period end-of-period ASU 2016-18 FASB issued ASU No. 2017-01, Business Combinations – Clarifying the Definition of a Business (Topic 805). ASU 2017-01 ASU 2017-01 ASU 2017-01 FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other: Simplifying the Test for Goodwill Impairment (Topic 350): 2017-04 ASU 2017-04 |
Business Combinations (Tables)
Business Combinations (Tables) - Bank of America [Member] | 12 Months Ended |
Dec. 31, 2016 | |
Schedule of Fair Value of Consideration Transferred, Identifiable Net Assets Acquired and Resulting Goodwill | The following table discloses the calculation of the fair value of consideration transferred, the total identifiable net assets acquired and the resulting goodwill relating to the acquisition of three branch banking offices and certain deposits from Bank of America on March 18, 2016: (in thousands) March 18, 2016 Fair value of consideration transferred: Cash consideration $ 3,204 Total fair value of consideration transferred 3,204 Asset acquired: Cash and cash equivalents 159,520 Loans 289 Premises and equipment 1,590 Core deposit intangible 2,046 Other assets 141 Total assets acquired 163,586 Liabilities assumed: Deposits 161,231 Total liabilities assumed 161,231 Total net assets acquired 2,355 Goodwill recognized $ 849 |
Summary of Cash Paid and Estimated Fair Value Adjustments Resulting in Goodwill | A summary of the cash paid and estimated fair value adjustments resulting in the goodwill recorded in the acquisition of three branch banking offices and certain deposits from Bank of America on March 18, 2016 are presented below: (in thousands) March 18, 2016 Cash paid $ 3,204 Cost basis net assets acquired — Fair value adjustments: Loans — Premises and Equipment (309 ) Core deposit intangible (2,046 ) Goodwill $ 849 |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments Schedule [Abstract] | |
Amortized Cost and Estimated Fair Values of Investments in Debt and Equity Securities | The amortized cost and estimated fair values of investments in debt and equity securities are summarized in the following tables: December 31, 2016 Amortized Gross Gross Estimated (in thousands) Securities Available for Sale Obligations of U.S. government corporations and agencies $ 434,357 $ 1,949 $ (6,628 ) $ 429,678 Obligations of states and political subdivisions 121,746 267 (4,396 ) 117,617 Marketable equity securities 3,000 — (62 ) 2,938 Total securities available for sale $ 559,103 $ 2,216 $ (11,086 ) $ 550,233 Securities Held to Maturity Obligations of U.S. government corporations and agencies $ 587,982 $ 5,001 $ (4,199 ) $ 588,784 Obligations of states and political subdivisions 14,554 56 (191 ) 14,419 Total securities held to maturity $ 602,536 $ 5,057 $ (4,390 ) $ 603,203 December 31, 2015 Amortized Gross Gross Estimated (in thousands) Securities Available for Sale Obligations of U.S. government corporations and agencies $ 312,917 $ 2,761 $ (1,996 ) $ 313,682 Obligations of states and political subdivisions 86,823 1,428 (33 ) 88,218 Marketable equity securities 3,000 — (15 ) 2,985 Total securities available for sale $ 402,740 $ 4,189 $ (2,044 ) $ 404,885 Securities Held to Maturity Obligations of U.S. government corporations and agencies $ 711,994 $ 8,394 $ (2,882 ) $ 717,506 Obligations of states and political subdivisions 14,536 277 (110 ) 14,703 Total securities held to maturity $ 726,530 $ 8,671 $ (2,992 ) $ 732,209 |
Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity | 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. Investment Securities (In thousands) Available for Sale Held to Maturity Amortized Estimated Amortized Estimated Due in one year $ 1 $ 1 — — Due after one year through five years 9,392 9,650 $ 1,177 $ 1,185 Due after five years through ten years 14,548 15,132 4,776 4,762 Due after ten years 535,162 525,450 596,583 597,256 Totals $ 559,103 $ 550,233 $ 602,536 $ 603,203 |
Gross Unrealized Losses on Investment | Gross unrealized losses on investment 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 December 31, 2016 Fair Unrealized Fair Unrealized Fair Unrealized (in thousands) Securities Available for Sale: Obligations of U.S. government corporations and agencies $ 370,389 $ (6,628 ) — — $ 370,389 $ (6,628 ) Obligations of states and political subdivisions 90,825 (4,396 ) — — 90,825 (4,396 ) Marketable equity securities 2,938 (62 ) — — 2,938 (62 ) Total securities available-for-sale $ 464,152 $ (11,086 ) — — $ 464,152 $ (11,086 ) Securities Held to Maturity: Obligations of U.S. government corporations and agencies $ 280,497 $ (4,199 ) — — $ 280,497 $ (4,199 ) Obligations of states and political subdivisions 9,984 (191 ) — — 9,984 (191 ) Total securities held-to-maturity $ 290,481 $ (4,390 ) — — $ 290,481 $ (4,390 ) Less than 12 months 12 months or more Total December 31, 2015 Fair Unrealized Fair Unrealized Fair Unrealized (in thousands) Securities Available for Sale: Obligations of U.S. government corporations and agencies $ 193,306 $ (1,996 ) — — $ 193,306 $ (1,996 ) Obligations of states and political subdivisions 6,469 (33 ) — — 6,469 (33 ) Marketable equity securities 2,985 (15 ) — — 2,985 (15 ) Total securities available-for-sale $ 202,760 $ (2,044 ) — — $ 202,760 $ (2,044 ) Securities Held to Maturity: Obligations of U.S. government corporations and agencies $ 198,481 $ (2,882 ) — — $ 198,481 $ (2,882 ) Obligations of states and political subdivisions 497 (11 ) $ 1,121 $ (99 ) 1,618 (110 ) Total securities held-to-maturity $ 198,978 $ (2,893 ) $ 1,121 $ (99 ) $ 200,099 $ (2,992 ) |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Summary of Loan Balances | A summary of loan balances follows (in thousands): December 31, 2016 PCI - PCI - Originated PNCI Cash basis Other Total Mortgage loans on real estate: Residential 1-4 $ 229,609 $ 78,935 — $ 1,363 $ 309,907 Commercial 1,484,420 250,037 — 13,460 1,747,917 Total mortgage loan on real estate 1,714,029 328,972 — 14,823 2,057,824 Consumer: Home equity lines of credit 263,590 21,765 2,983 1,377 289,715 Home equity loans 37,074 3,618 — 1,130 41,822 Other 28,167 2,534 — 65 30,766 Total consumer loans 328,831 27,917 2,983 2,572 362,303 Commercial 200,735 12,321 — 3,991 217,047 Construction: Residential 54,613 141 — 675 55,429 Commercial 58,119 8,871 — — 66,990 Total construction 112,732 9,012 — 675 122,419 Total loans, net of deferred loan fees and discounts $ 2,356,327 $ 378,222 $ 2,983 $ 22,061 $ 2,759,593 Total principal balance of loans owed, net of charge-offs $ 2,363,243 $ 388,139 $ 8,280 $ 25,650 $ 2,785,312 Unamortized net deferred loan fees (6,916 ) — — — (6,916 ) Discounts to principal balance of loans owed, net of charge-offs — (9,917 ) (5,297 ) (3,589 ) (18,803 ) Total loans, net of unamortized deferred loan fees and discounts $ 2,356,327 $ 378,222 $ 2,983 $ 22,061 $ 2,759,593 Noncovered loans $ 2,356,327 $ 378,222 $ 2,983 $ 18,885 $ 2,756,417 Covered loans — — — 3,176 3,176 Total loans, net of unamortized deferred loan fees and discounts $ 2,356,327 $ 378,222 $ 2,983 $ 22,061 $ 2,759,593 Allowance for loan losses $ (28,141 ) $ (1,665 ) $ (17 ) $ (2,680 ) $ (32,503 ) A summary of loan balances follows (in thousands): December 31, 2015 PCI - PCI - Originated PNCI Cash basis Other Total Mortgage loans on real estate: Residential 1-4 $ 207,585 $ 104,535 — $ 2,145 $ 314,265 Commercial 1,163,643 310,864 — 23,060 1,497,567 Total mortgage loan on real estate 1,371,228 415,399 — 25,205 1,811,832 Consumer: Home equity lines of credit 285,419 29,335 $ 4,954 2,784 322,492 Home equity loans 34,717 4,018 124 1,503 40,362 Other 28,998 3,367 — 64 32,429 Total consumer loans 349,134 36,720 5,078 4,351 395,283 Commercial 170,320 19,744 1 4,848 194,913 Construction: Residential 31,778 13,636 — 721 46,135 Commercial 66,285 8,489 — — 74,774 Total construction 98,063 22,125 — 721 120,909 Total loans, net of deferred loan fees and discounts $ 1,988,745 $ 493,988 $ 5,079 $ 35,125 $ 2,522,937 Total principal balance of loans owed, net of charge-offs $ 1,995,296 $ 507,935 $ 12,686 $ 39,693 $ 2,555,610 Unamortized net deferred loan fees (6,551 ) — — — (6,551 ) Discounts to principal balance of loans owed, net of charge-offs — (13,947 ) (7,607 ) (4,568 ) (26,122 ) Total loans, net of unamortized deferred loan fees and discounts $ 1,988,745 $ 493,988 $ 5,079 $ 35,125 $ 2,522,937 Noncovered loans $ 1,988,745 $ 493,988 $ 5,079 $ 29,890 $ 2,517,702 Covered loans — — — 5,235 5,235 Total loans, net of unamortized deferred loan fees and discounts $ 1,988,745 $ 493,988 $ 5,079 $ 35,125 $ 2,522,937 Allowance for loan losses $ (31,271 ) $ (1,848 ) $ (121 ) $ (2,771 ) $ (36,011 ) |
Change in Accretable Yield for PCI | The following is a summary of the change in accretable yield for PCI – other loans during the periods indicated (in thousands): Year ended December 31, 2016 2015 Change in accretable yield: Balance at beginning of period $ 13,255 $ 14,159 Accretion to interest income (4,011 ) (6,323 ) Reclassification (to) from nonaccretable difference 1,104 5,419 Balance at end of period $ 10,348 $ 13,255 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [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 loan losses, and ending balance of loans, net of unearned fees for the periods indicated. Allowance for Loan Losses - Year Ended December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Beginning balance $ 2,507 $ 11,443 $ 11,253 $ 3,138 — $ 688 $ 5,271 $ 899 $ 812 $ 36,011 Charge-offs (321 ) (827 ) (585 ) (219 ) — (823 ) (455 ) — — (3,230 ) Recoveries 880 920 2,317 590 — 449 404 54 78 5,692 (Benefit) provision (679 ) 369 (5,941 ) (892 ) — 308 611 464 (210 ) (5,970 ) Ending balance $ 2,387 $ 11,905 $ 7,044 $ 2,617 — $ 622 $ 5,831 $ 1,417 $ 680 $ 32,503 Ending balance: Individ. evaluated for impairment $ 249 $ 127 $ 410 $ 102 — $ 28 $ 1,130 — — $ 2,046 Loans pooled for evaluation $ 1,952 $ 10,329 $ 6,618 $ 2,451 — $ 594 $ 3,765 $ 1,371 $ 680 $ 27,760 Loans acquired with deteriorated credit quality $ 186 $ 1,449 $ 17 $ 64 — — $ 936 $ 45 — $ 2,697 Loans, net of unearned fees - As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Ending balance: Total loans $ 309,907 $ 1,747,917 $ 289,715 $ 41,822 — $ 30,766 $ 217,047 $ 55,429 $ 66,990 $ 2,759,593 Individ. evaluated for impairment $ 3,785 $ 15,748 $ 3,196 $ 1,150 — $ 154 $ 4,096 $ 11 — $ 28,140 Loans pooled for evaluation $ 304,759 $ 1,718,709 $ 282,159 $ 39,542 — $ 30,547 $ 208,960 $ 54,743 $ 66,990 $ 2,706,409 Loans acquired with deteriorated credit quality $ 1,363 $ 13,460 $ 4,360 $ 1,130 — $ 65 $ 3,991 $ 675 — $ 25,044 Allowance for Loan Losses - Year Ended December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Beginning balance $ 3,086 $ 9,227 $ 15,676 $ 1,797 $ 9 $ 719 $ 4,226 $ 1,434 $ 411 $ 36,585 Charge-offs (224 ) — (694 ) (242 ) (4 ) (972 ) (680 ) — — (2,816 ) Recoveries 204 243 666 252 42 500 677 1,728 140 4,452 (Benefit) provision (559 ) 1,973 (4,395 ) 1,331 (47 ) 441 1,048 (2,263 ) 261 (2,210 ) Ending balance $ 2,507 $ 11,443 $ 11,253 $ 3,138 — $ 688 $ 5,271 $ 899 $ 812 $ 36,011 Ending balance: Individ. evaluated for impairment $ 335 $ 395 $ 605 $ 294 — $ 74 $ 1,187 — — $ 2,890 Loans pooled for evaluation $ 2,112 $ 9,596 $ 10,423 $ 2,844 — $ 614 $ 2,983 $ 844 $ 812 $ 30,228 Loans acquired with deteriorated credit quality $ 60 $ 1,452 $ 225 — — — $ 1,101 $ 55 — $ 2,893 Loans, net of unearned fees - As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Ending balance: Total loans $ 314,265 $ 1,497,567 $ 322,492 $ 40,362 — $ 32,429 $ 194,913 $ 46,135 $ 74,774 $ 2,522,937 Individ. evaluated for impairment $ 6,767 $ 32,407 $ 5,747 $ 1,731 — $ 288 $ 2,671 $ 4 $ 490 $ 50,105 Loans pooled for evaluation $ 305,353 $ 1,442,100 $ 309,007 $ 37,004 — $ 32,077 $ 187,393 $ 45,410 $ 74,284 $ 2,432,628 Loans acquired with deteriorated credit quality $ 2,145 $ 23,060 $ 7,738 $ 1,627 — $ 64 $ 4,849 $ 721 — $ 40,204 Allowance for Loan Losses - Year Ended December 31, 2014 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Beginning balance $ 3,154 $ 9,700 $ 16,375 $ 1,208 $ 66 $ 589 $ 4,331 $ 1,559 $ 1,263 $ 38,245 Charge-offs (171 ) (110 ) (1,094 ) (29 ) (3 ) (599 ) (479 ) (4 ) (69 ) (2,558 ) Recoveries 2 540 960 34 86 495 1,268 1,377 181 4,943 (Benefit) provision 101 (903 ) (565 ) 584 (140 ) 234 (894 ) (1,498 ) (964 ) (4,045 ) Ending balance $ 3,086 $ 9,227 $ 15,676 $ 1,797 $ 9 $ 719 $ 4,226 $ 1,434 $ 411 $ 36,585 Ending balance: Individ. evaluated for impairment $ 974 $ 410 $ 1,974 $ 284 — $ 142 $ 423 $ 60 — $ 4,267 Loans pooled for evaluation $ 1,915 $ 8,408 $ 13,251 $ 1,513 $ 9 $ 572 $ 2,569 $ 332 $ 322 $ 28,891 Loans acquired with deteriorated credit quality $ 197 $ 409 $ 451 — — $ 5 $ 1,234 $ 1,042 $ 89 $ 3,427 Loans, net of unearned fees - As of December 31, 2014 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Ending balance: Total loans $ 279,420 $ 1,335,939 $ 352,584 $ 31,314 $ 112 $ 33,074 $ 174,945 $ 38,618 $ 36,518 $ 2,282,524 Individ. evaluated for impairment $ 7,188 $ 41,932 $ 6,968 $ 1,279 $ 18 $ 323 $ 1,757 $ 2,683 $ 99 $ 62,247 Loans pooled for evaluation $ 268,227 $ 1,263,090 $ 336,595 $ 29,266 $ 94 $ 32,677 $ 165,753 $ 35,260 $ 36,419 $ 2,167,381 Loans acquired with deteriorated credit quality $ 4,005 $ 30,917 $ 9,021 $ 770 — $ 74 $ 7,435 $ 675 — $ 52,897 |
Presentation of Credit Quality Indicators | The following tables present ending loan balances by loan category and risk grade for the periods indicated: Credit Quality Indicators – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Originated loans: Pass $ 224,988 $ 1,457,128 $ 258,024 $ 34,299 — $ 27,542 $ 190,902 $ 54,602 $ 57,808 $ 2,305,293 Special mention 2,225 15,108 2,518 891 — 385 6,133 — 311 27,571 Substandard 2,396 12,184 3,048 1,884 — 240 3,700 11 — 23,463 Loss — — — — — — — — — — Total originated $ 229,609 $ 1,484,420 $ 263,590 $ 37,074 — $ 28,167 $ 200,735 $ 54,613 $ 58,119 $ 2,356,327 PNCI loans: Pass $ 75,600 $ 236,740 $ 20,442 $ 3,492 — $ 2,437 $ 12,320 $ 141 $ 8,871 $ 360,043 Special mention 1,849 6,057 509 41 — 92 1 — — 8,549 Substandard 1,486 7,240 814 85 — 5 — — — 9,630 Loss — — — — — — — — — — Total PNCI $ 78,935 $ 250,037 $ 21,765 $ 3,618 — $ 2,534 $ 12,321 $ 141 $ 8,871 $ 378,222 PCI loans $ 1,363 $ 13,460 $ 4,360 $ 1,130 — $ 65 $ 3,991 $ 675 — $ 25,044 Total loans $ 309,907 $ 1,747,917 $ 289,715 $ 41,822 — $ 30,766 $ 217,047 $ 55,429 $ 66,990 $ 2,759,593 Credit Quality Indicators – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Originated loans: Pass $ 199,837 $ 1,118,868 $ 275,251 $ 31,427 — $ 28,339 $ 166,559 $ 31,440 $ 66,285 $ 1,918,006 Special mention 2,018 10,321 2,494 1,027 — 415 1,037 334 — 17,646 Substandard 5,730 34,454 7,674 2,263 — 244 2,724 4 — 53,093 Loss — — — — — — — — — — Total originated $ 207,585 $ 1,163,643 $ 285,419 $ 34,717 — $ 28,998 $ 170,320 $ 31,778 $ 66,285 $ 1,988,745 PNCI loans: Pass $ 102,895 $ 293,935 $ 27,378 $ 3,789 — $ 3,164 $ 19,666 $ 13,636 $ 8,489 $ 472,952 Special mention 600 10,795 445 80 — 74 — — — 11,994 Substandard 1,040 6,134 1,512 149 — 129 78 — — 9,042 Loss — — — — — — — — — — Total PNCI $ 104,535 $ 310,864 $ 29,335 $ 4,018 — $ 3,367 $ 19,744 $ 13,636 $ 8,489 $ 493,988 PCI loans $ 2,145 $ 23,060 $ 7,738 $ 1,627 — $ 64 $ 4,849 $ 721 — $ 40,204 Total loans $ 314,265 $ 1,497,567 $ 322,492 $ 40,362 — $ 32,429 $ 194,913 $ 46,135 $ 74,774 $ 2,522,937 |
Analysis of Past Due and Nonaccrual Loans | The following table shows the ending balance of current, past due, and nonaccrual originated loans by loan category as of the date indicated: Analysis of Past Due and Nonaccrual Originated Loans – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Originated loan balance: Past due: 30-59 $ 552 $ 317 $ 754 $ 646 — $ 16 $ 1,148 $ 921 — $ 4,354 60-89 139 1,517 — 395 — 30 84 — $ 421 2,586 > 90 Days — 216 687 184 — 15 634 11 — 1,747 Total past due $ 691 $ 2,050 $ 1,441 $ 1,225 — $ 61 $ 1,866 $ 932 $ 421 $ 8,687 Current 228,918 1,482,370 262,149 35,849 — 28,106 198,869 53,681 57,698 2,347,640 Total orig. loans $ 229,609 $ 1,484,420 $ 263,590 $ 37,074 — $ 28,167 $ 200,735 $ 54,613 $ 58,119 $ 2,356,327 > 90 Days and still accruing — — — — — — — — — — Nonaccrual loans $ 255 $ 7,736 $ 1,211 $ 718 — $ 33 $ 2,930 $ 11 — $ 12,894 The following table shows the ending balance of current, past due, and nonaccrual PNCI loans by loan category as of the date indicated: Analysis of Past Due and Nonaccrual PNCI Loans – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total PNCI loan balance: Past due: 30-59 $ 1,510 $ 73 $ 274 $ 39 — — — — — $ 1,896 60-89 — — — — — — — — — — > 90 Days 21 81 589 13 — — — — — 704 Total past due $ 1,531 $ 154 $ 863 $ 52 — — — — — $ 2,600 Current 77,404 249,883 20,902 3,566 — $ 2,534 $ 12,321 $ 141 $ 8,871 375,622 Total PNCI loans $ 78,935 $ 250,037 $ 21,765 $ 3,618 — $ 2,534 $ 12,321 $ 141 $ 8,871 $ 378,222 > 90 Days and still accruing — — — — — — — — — — Nonaccrual loans $ 194 $ 1,826 $ 742 $ 67 — $ 5 — — — $ 2,834 The following table shows the ending balance of current, past due, and nonaccrual originated loans by loan category as of the date indicated: Analysis of Past Due and Nonaccrual Originated Loans – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Originated loan balance: Past due: 30-59 $ 791 $ 200 $ 1,033 $ 402 — $ 12 $ 2,197 — — $ 4,635 60-89 — 491 324 341 — 40 — — — 1,196 > 90 Days 271 3,425 520 82 — 19 24 — — 4,341 Total past due $ 1,062 $ 4,116 $ 1,877 $ 825 — $ 71 $ 2,221 — — $ 10,172 Current 206,523 1,159,527 283,542 33,892 — 28,927 168,099 — — 1,978,573 Total orig. loans $ 207,585 $ 1,163,643 $ 285,419 $ 34,717 — $ 28,998 $ 170,320 $ 31,778 $ 66,285 $ 1,988,745 > 90 Days and still accruing — — — — — — — — — — Nonaccrual loans $ 3,045 $ 14,196 $ 3,379 $ 1,195 — $ 21 $ 976 $ 12 — $ 22,824 The following table shows the ending balance of current, past due, and nonaccrual PNCI loans by loan category as of the date indicated: Analysis of Past Due and Nonaccrual PNCI Loans – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total PNCI loan balance: Past due: 30-59 $ 3,106 $ 4,037 $ 92 $ 23 — — $ 1 — — $ 7,259 60-89 — — — — — $ 13 — — — 13 > 90 Days 58 748 275 71 — 10 — — $ 490 1,652 Total past due $ 3,164 $ 4,785 $ 367 $ 94 — $ 23 $ 1 — $ 490 $ 8,924 Current 101,371 306,079 28,968 3,924 — 3,344 19,743 $ 13,636 7,999 485,064 Total PNCI loans $ 104,535 $ 310,864 $ 29,335 $ 4,018 — $ 3,367 $ 19,744 $ 13,636 $ 8,489 $ 493,988 > 90 Days and still accruing — — — — — — — — — — Nonaccrual loans $ 348 $ 3,742 $ 676 $ 109 — $ 33 — — $ 490 $ 5,398 |
Impaired Loans | Impaired originated loans are those where management has concluded that it is probable that the borrower will be unable to pay all amounts due under the contractual terms. The following tables show the recorded investment (financial statement balance), unpaid principal balance, average recorded investment, and interest income recognized for impaired Originated and PNCI loans, segregated by those with no related allowance recorded and those with an allowance recorded for the periods indicated. Impaired Originated Loans – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total With no related allowance recorded: Recorded investment $ 1,691 $ 13,144 $ 1,480 $ 598 — $ 15 $ 762 $ 11 — $ 17,701 Unpaid principal $ 1,699 $ 13,488 $ 1,561 $ 922 — $ 29 $ 926 $ 16 — $ 18,641 Average recorded Investment $ 2,788 $ 20,126 $ 2,221 $ 773 $ 1 $ 16 $ 669 $ 7 — $ 26,601 Interest income Recognized $ 83 $ 581 $ 40 $ 4 — $ 1 $ 48 — — $ 757 With an allowance recorded: Recorded investment $ 1,372 $ 646 $ 430 $ 485 — $ 18 $ 3,334 — — $ 6,285 Unpaid principal $ 1,372 $ 646 $ 440 $ 487 — $ 19 $ 3,385 — — $ 6,349 Related allowance $ 170 $ 19 $ 110 $ 102 — $ 13 $ 1,130 — — $ 1,544 Average recorded Investment $ 1,689 $ 1,032 $ 1,077 $ 579 — $ 9 $ 2,714 — — $ 7,100 Interest income Recognized $ 56 $ 37 $ 9 $ 25 — $ 2 $ 77 — — $ 206 Impaired PNCI Loans – As of December 31, 2016 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total With no related allowance recorded: Recorded investment $ 463 $ 1,826 $ 735 $ 67 — $ 3 — — — $ 3,094 Unpaid principal $ 486 $ 2,031 $ 746 $ 74 — $ 4 — — — $ 3,341 Average recorded Investment $ 669 $ 1,479 $ 594 $ 69 — $ 18 $ 1 — $ 245 $ 3,075 Interest income Recognized $ 7 — $ 9 $ 1 — — — — — $ 17 With an allowance recorded: Recorded investment $ 259 $ 132 $ 551 — — $ 118 — — — $ 1,060 Unpaid principal $ 259 $ 132 $ 551 — — $ 118 — — — $ 1,060 Related allowance $ 79 $ 108 $ 300 — — $ 15 — — — $ 502 Average recorded Investment $ 130 $ 1,440 $ 579 $ 19 — $ 176 — — — $ 2,344 Interest income Recognized $ 10 $ 7 $ 27 — — $ 5 — — — $ 49 Impaired Originated Loans – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total With no related allowance recorded: Recorded investment $ 3,886 $ 27,109 $ 2,963 $ 947 — $ 20 $ 576 $ 4 — $ 35,505 Unpaid principal $ 5,998 $ 29,678 $ 6,079 $ 1,349 — $ 35 $ 688 $ 65 — $ 43,892 Average recorded Investment $ 3,586 $ 32,793 $ 2,982 $ 848 — $ 29 $ 494 $ 1,202 $ 50 $ 41,984 Interest income Recognized $ 81 $ 893 $ 23 $ 5 — — $ 29 — — $ 1,031 With an allowance recorded: Recorded investment $ 2,006 $ 1,418 $ 1,724 $ 674 — $ 1 $ 2,094 — — $ 7,917 Unpaid principal $ 2,073 $ 1,453 $ 1,904 $ 701 — $ 1 $ 2,117 — — $ 8,249 Related allowance $ 335 $ 146 $ 525 $ 256 — $ 1 $ 1,187 — — $ 2,450 Average recorded Investment $ 2,365 $ 2,180 $ 2,455 $ 589 — $ 23 $ 1,716 $ 141 — $ 9,469 Interest income Recognized $ 49 $ 74 $ 31 $ 26 — — $ 122 — — $ 302 Impaired PNCI Loans – As of December 31, 2015 RE Mortgage Home Equity Auto Other Construction (in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total With no related allowance recorded: Recorded investment $ 875 $ 1,132 $ 454 $ 71 — $ 33 $ 1 — $ 490 $ 3,056 Unpaid principal $ 908 $ 1,248 $ 505 $ 73 — $ 52 $ 1 — $ 490 $ 3,277 Average recorded Investment $ 609 $ 749 $ 400 $ 48 — $ 35 $ 4 — $ 245 $ 2,090 Interest income Recognized $ 31 $ 32 $ 3 $ 2 — $ 1 — — $ 18 $ 87 With an allowance recorded: Recorded investment — $ 2,748 $ 606 $ 39 — $ 234 — — — $ 3,627 Unpaid principal — $ 2,858 $ 612 $ 40 — $ 234 — — — $ 3,744 Related allowance — $ 248 $ 80 $ 39 — $ 73 — — — $ 440 Average recorded Investment $ 417 $ 1,447 $ 521 $ 19 — $ 227 — — — $ 2,631 Interest income Recognized — $ 149 $ 14 — — $ 11 — — — $ 174 |
Troubled Debt Restructurings | The following tables show certain information regarding Troubled Debt Restructurings (TDRs) that occurred during the periods indicated: TDR Information for the Year Ended December 31, 2016 RE Mortgage Home Equity Auto Other Construction (dollars in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Number 3 5 9 1 — 2 4 — — 24 Pre-mod $ 650 $ 423 $ 707 $ 105 — $ 27 $ 77 — — $ 1,989 Post-mod $ 656 $ 461 $ 709 $ 105 — $ 27 $ 77 — — $ 2,035 Financial impact due to TDR taken as additional provision $ 50 $ 46 $ 205 — — $ 2 $ 23 — — $ 326 Number that defaulted during the period 2 — 1 — — — — — — 3 Recorded investment of TDRs that defaulted during the period $ 101 — $ 229 — — — — — — $ 330 Financial impact due to the default of previous TDR taken as charge-offs or additional provisions — — — — — — — — — — TDR Information for the Year Ended December 31, 2015 RE Mortgage Home Equity Auto Other Construction (dollars in thousands) Resid. Comm. Lines Loans Indirect Consum. C&I Resid. Comm. Total Number 4 5 2 2 — 2 8 — — 23 Pre-mod $ 800 $ 1,518 $ 301 $ 315 — $ 89 $ 956 — — $ 3,979 Post-mod $ 801 $ 1,517 $ 301 $ 321 — $ 89 $ 944 — — $ 3,973 Financial impact due to TDR taken as additional provision $ 8 $ (5 ) — $ 38 — $ 5 $ 405 — — $ 451 Number that defaulted during the period 4 2 3 1 — — — — — 10 Recorded investment of TDRs that defaulted during the period $ 221 $ 280 $ 182 $ 53 — — — — — $ 736 Financial impact due to the default of previous TDR taken as charge-offs or additional provisions — — — $ (9 ) — — — — — $ (9 ) |
Foreclosed Assets (Tables)
Foreclosed Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of Activity in Balance of Foreclosed Assets | A summary of the activity in the balance of foreclosed assets follows (dollars in thousands): Year ended December 31, 2016 Year ended December 31, 2015 Noncovered Covered Total Noncovered Covered Total Beginning balance, net $ 5,369 — $ 5,369 $ 4,449 $ 445 $ 4,894 Additions/transfers from loans 2,282 $ 223 2,505 5,880 (445 ) 5,435 Dispositions/sales (3,748 ) — (3,748 ) (4,458 ) — (4,458 ) Valuation adjustments (140 ) — (140 ) (502 ) — (502 ) Ending balance, net $ 3,763 $ 223 $ 3,986 $ 5,369 — $ 5,369 Ending valuation allowance $ (314 ) — $ (314 ) $ (572 ) — $ (572 ) Ending number of foreclosed assets 14 1 15 26 — 26 Proceeds from sale of foreclosed assets $ 4,010 — $ 4,010 $ 5,449 — $ 5,449 Gain on sale of foreclosed assets $ 262 — $ 262 $ 991 — $ 991 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Summary of Premises and Equipment | Premises and equipment were comprised of: December 31, December 31, 2016 2015 (In thousands) Land & land improvements $ 9,522 $ 8,909 Buildings 42,345 38,643 Furniture and equipment 31,428 31,081 83,295 78,633 Less: Accumulated depreciation (37,412 ) (35,518 ) 45,883 43,115 Construction in progress 2,523 696 Total premises and equipment $ 48,406 $ 43,811 |
Cash Value of Life Insurance (T
Cash Value of Life Insurance (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments, All Other Investments [Abstract] | |
Summary of Activity in Balance of Cash Value of Life Insurance | A summary of the activity in the balance of cash value of life insurance follows (dollars in thousands): Year ended December 31, 2016 2015 Beginning balance $ 94,560 $ 92,337 Increase in cash value of life insurance 2,717 2,786 Death benefit receivable in excess of cash value 238 155 Death benefit receivable (1,603 ) (718 ) Ending balance $ 95,912 $ 94,560 End of period death benefit $ 165,669 $ 166,299 Number of policies owned 185 187 Insurance companies used 14 14 Current and former employees and directors covered 58 59 |
Goodwill and Other Intangible47
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Goodwill Intangible | The following table summarizes the Company’s goodwill intangible as of the dates indicated: December 31, December 31, (Dollar in Thousands) 2016 Additions Reductions 2015 Goodwill $ 64,311 $ 849 — $ 63,462 |
Summary of Core Deposit Intangibles | The following table summarizes the Company’s core deposit intangibles as of the dates indicated: December 31, Reductions/ Fully December 31, (Dollar in Thousands) 2016 Additions Amortization Depreciated 2015 Core deposit intangibles $ 10,120 $ 2,046 — — $ 8,074 Accumulated amortization (3,557 ) — $ (1,377 ) — (2,180 ) Core deposit intangibles, net $ 6,563 $ 2,046 $ (1,377 ) — $ 5,894 |
Estimated Core Deposit Intangible Amortization | The following table summarizes the Company’s estimated core deposit intangible amortization (dollars in thousands): Estimated Core Deposit Years Ended Intangible Amortization 2017 $ 1,389 2018 1,324 2019 1,228 2020 1,228 2021 969 Thereafter 425 |
Mortgage Servicing Rights (Tabl
Mortgage Servicing Rights (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Fair Value of Mortgage Servicing Rights | The following tables summarize the activity in, and the main assumptions we used to determine the fair value of mortgage servicing rights for the periods indicated (dollars in thousands): Years ended December 31, 2016 2015 2014 Balance at beginning of period $ 7,618 $ 7,378 $ 6,165 Acquisition — — 1,944 Originations 1,161 941 570 Change in fair value (2,184 ) (701 ) (1,301 ) Balance at end of period $ 6,595 $ 7,618 $ 7,378 Contractually specified servicing fees, late fees and ancillary fees earned $ 2,065 $ 2,164 $ 1,869 Balance of loans serviced at: Beginning of period $ 817,917 $ 840,288 $ 680,197 End of period $ 816,623 $ 817,917 $ 840,288 Weighted-average prepayment speed (CPR) 8.8 % 9.8 % 12.0 % Weighted-average discount rate 14.0 % 10.0 % 10.0 % |
Indemnification Asset (Tables)
Indemnification Asset (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of Activity in Balance of Indemnification Asset (Liability) | A summary of the activity in the balance of indemnification asset (liability) included in other assets is follows (in thousands): Year ended December 31, 2016 2015 2014 Beginning balance $ (521 ) $ (349 ) $ 206 Effect of actual covered losses (recoveries) and increase (decrease) in estimated future covered losses (412 ) (93 ) (853 ) Change in estimated “true up” liability (86 ) (71 ) (100 ) Reimbursable (revenue) expenses, net 2 4 85 Payments made (received) 273 (12 ) 313 Ending balance $ (744 ) $ (521 ) $ (349 ) Amount of indemnification asset (liability) recorded in other assets $ (60 ) $ 77 $ (349 ) Amount of indemnification liability recorded in other liabilities (684 ) (598 ) — Ending balance $ (744 ) $ (521 ) $ (349 ) |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Summary of Other Assets | Other assets were comprised of (in thousands): As of December 31, 2016 2015 Deferred tax asset, net (Note 22) $ 36,199 $ 36,440 Prepaid expense 3,045 3,062 Software 2,039 1,290 Advanced compensation 249 673 Capital Trusts 1,702 1,696 Investment in Low Housing Tax Credit Funds 18,465 4,223 Life insurance proceeds receivable 2,120 — Prepaid Taxes 6,460 — Premises held for sale 2,896 — Miscellaneous other assets 1,568 1,207 Total other assets $ 74,743 $ 48,591 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Summary of Balances of Deposits | A summary of the balances of deposits follows (in thousands): December 31, 2016 2015 Noninterest-bearing demand $ 1,275,745 $ 1,155,695 Interest-bearing demand 887,625 853,961 Savings 1,397,036 1,281,540 Time certificates, over $250,000 75,184 74,647 Other time certificates 259,970 265,423 Total deposits $ 3,895,560 $ 3,631,266 |
Schedule of Maturities of Time Deposits | At December 31, 2016, the scheduled maturities of time deposits were as follows (in thousands): Scheduled Maturities 2017 $ 279,015 2018 26,097 2019 9,277 2020 10,611 2021 10,135 Thereafter 19 Total $ 335,154 |
Reserve for Unfunded Commitme52
Reserve for Unfunded Commitments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of Activity in Reserve for Unfunded Commitments | The following tables summarize the activity in reserve for unfunded commitments for the periods indicated (dollars in thousands): Years ended December 31, 2016 2015 2014 Balance at beginning of period $ 2,475 $ 2,145 $ 2,415 Acquisitions — — 125 Provision for losses – Unfunded commitments 244 330 (395 ) Balance at end of period $ 2,719 $ 2,475 $ 2,145 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Liabilities Disclosure [Abstract] | |
Components of Other Liabilities | Other liabilities were comprised of (in thousands): December 31, 2016 2015 Deferred compensation $ 6,525 $ 6,725 Pension liability 26,645 26,182 Joint beneficiary agreements 3,007 2,529 Low income housing tax credit fund commitments 15,176 3,330 Accrued salaries and benefits expense 5,704 3,851 Loan escrow and servicing payable 2,146 2,037 Deferred revenue 726 1,082 Unsettled investment security purchases — 17,072 Litigation contingency 1,450 — Miscellaneous other liabilities 5,985 2,485 Total other liabilities $ 67,364 $ 65,293 |
Other Borrowings (Tables)
Other Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of Balances of Other Borrowings | A summary of the balances of other borrowings follows: December 31, 2016 2015 (in thousands) Other collateralized borrowings, fixed rate, as of December 31, 2016 of 0.05%, payable on January 2, 2017 $ 17,493 $ 12,328 Total other borrowings $ 17,493 $ 12,328 |
Junior Subordinated Debt (Table
Junior Subordinated Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Text Block [Abstract] | |
Summary of Terms and Recorded Balance of Subordinated Debenture | The following table summarizes the terms and recorded balance of each subordinated debenture as of the date indicated (dollars in thousands): Subordinated Debt Series Maturity Face Coupon Rate As of December 31, 2016 (Variable) Current Recorded 3 mo. LIBOR + Coupon Rate Book Value TriCo Cap Trust I 10/7/2033 $ 20,619 3.05 % 3.93 % $ 20,619 TriCo Cap Trust II 7/23/2034 20,619 2.55 % 3.43 % 20,619 North Valley Trust II 4/24/2033 6,186 3.25 % 4.14 % 5,095 North Valley Trust III 4/24/2034 5,155 2.80 % 3.68 % 4,005 North Valley Trust IV 3/15/2036 10,310 1.33 % 2.29 % 6,329 $ 62,889 $ 56,667 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Commitments under Non-Cancelable Operating Leases with Initial or Remaining Terms of One Year or More | At December 31, 2016, future minimum commitments under non-cancelable Operating Leases (in thousands) 2017 $ 3,320 2018 2,523 2019 1,924 2020 1,325 2021 963 Thereafter 1,696 Future minimum lease payments $ 11,751 |
Summary of Bank's Commitments and Contingent Liabilities | The following table presents a summary of the Bank’s commitments and contingent liabilities: December 31, December 31, (in thousands) 2016 2015 Financial instruments whose amounts represent risk: Commitments to extend credit: Commercial loans $ 220,836 $ 196,399 Consumer loans 406,855 394,278 Real estate mortgage loans 42,184 42,793 Real estate construction loans 97,399 71,846 Standby letters of credit 12,763 8,330 Deposit account overdraft privilege 98,583 94,473 |
Stock Options and Other Equit57
Stock Options and Other Equity-Based Incentive Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Option Activity | Stock option activity is summarized in the following table for the dates indicated: Weighted Average Number Option Price Exercise of Shares per Share Price Outstanding at December 31, 2015 948,350 $ 12.63 to $25.91 $ 17.94 Options granted — — to — — Options exercised (336,900 ) $ 14.54 to $25.91 $ 19.31 Options forfeited (19,200 ) $ 14.76 to $23.21 $ 19.14 Outstanding at December 31, 2016 592,250 $ 12.63 to $23.21 $ 17.12 |
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 December 31, 2016: Currently Currently Not Total Exercisable Exercisable Outstanding Number of options 520,650 71,600 592,250 Weighted average exercise price $ 16.91 $ 18.64 $ 17.12 Intrinsic value (in thousands) $ 8,991 $ 1,112 $ 10,103 Weighted average remaining contractual term (yrs.) 4.1 6.3 4.3 |
Information about Options | The following table shows the total intrinsic value of options exercised, the total fair value of options vested, total compensation costs for options recognized in income, and total tax benefit recognized in income related to compensation costs for options during the periods indicated: Years Ended December 31, 2016 2015 2014 Intrinsic value of options exercised $ 3,483,000 $ 969,000 $ 1,209,000 Fair value of options that vested $ 580,000 $ 734,000 $ 965,000 Total compensation costs for options recognized in income $ 580,000 $ 734,000 $ 965,000 Total tax benefit recognized in income related to compensation costs for options $ 244,000 $ 380,000 $ 378,000 Weighted average fair value of grants (per option) n/a n/a $ 8.17 |
Weighted-Average Assumptions Used to Determine Fair Value of Options Granted | The weighted-average assumptions used to determine the fair value of options granted are detailed in the table below: Year Ended December 31, 2016 2015 2014 Assumptions used to value option grants: Average expected terms (years) n/a n/a 6.3 Volatility n/a n/a 42.1 % Annual rate of dividends n/a n/a 1.90 % Discount rate n/a n/a 1.69 % |
Restricted Stock Unit (RSU) Activity | Restricted stock unit (RSU) activity is summarized in the following table for the dates indicated: Service Condition Vesting RSUs Market Plus Service Condition Vesting RSUs Number of RSUs Weighted Average Fair Date of Grant Number of RSUs Weighted Average Fair Value on Date of Grant Outstanding at December 31, 2015 46,286 32,097 RSUs granted 47,020 $ 28.01 19,402 $ 24.41 RSUs added through dividend credits 1,292 — RSUs released (20,529 ) — RSUs forfeited/expired (5,619 ) (4,073 ) Outstanding at December 31, 2016 68,450 47,426 |
Summary of Compensation Costs for RSUs | The following table shows the compensation costs for RSUs recognized in income for the periods indicated: Year Ended December 31, 2016 2015 2014 Total compensation costs for RSUs recognized in income: Service condition vesting RSUs $ 616,000 $ 458,000 $ 126,000 Market plus service condition vesting RSUs $ 271,000 $ 179,000 $ 42,000 |
Noninterest Income and Expense
Noninterest Income and Expense (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Other Income and Expenses [Abstract] | |
Components of Other Noninterest Income | The components of other noninterest income were as follows (in thousands): Years Ended December 31, 2016 2015 2014 Service charges on deposit accounts $ 14,365 $ 14,276 $ 11,811 ATM and interchange fees 15,859 13,364 9,651 Other service fees 3,121 2,977 2,206 Mortgage banking service fees 2,065 2,164 1,869 Change in value of mortgage servicing rights (2,184 ) (701 ) (1,301 ) Total service charges and fees 33,226 32,080 24,236 Gain on sale of loans 4,037 3,064 2,032 Commissions on sale of non-deposit 2,329 3,349 2,995 Increase in cash value of life insurance 2,717 2,786 1,953 Change in indemnification asset (493 ) (207 ) (856 ) Gain on sale of foreclosed assets 262 991 2,153 Sale of customer checks 408 492 450 Lease brokerage income 711 712 504 Gain (loss) on disposal of fixed assets (147 ) (129 ) 49 Gain on life insurance death benefit 238 155 — Other 1,275 2,054 1,000 Total other noninterest income 11,337 13,267 10,280 Total noninterest income $ 44,563 $ 45,347 $ 34,516 |
Components of Noninterest Expense | The components of noninterest expense were as follows (in thousands): Years Ended December 31, 2016 2015 2014 Base salaries, net of deferred loan origination costs $ 53,169 $ 46,822 $ 39,342 Incentive compensation 8,872 6,964 5,068 Benefits and other compensation costs 18,683 17,619 13,134 Total salaries and benefits expense 80,724 71,405 57,544 Occupancy 10,139 10,126 8,203 Equipment 6,597 5,997 4,514 Data processing and software 8,846 7,670 6,512 Assessments 2,105 2,572 2,107 ATM & POS network charges 4,999 4,190 2,996 Advertising 3,829 3,992 2,413 Professional fees 5,409 4,545 3,888 Telecommunications 2,749 3,007 2,870 Postage 1,603 1,296 949 Courier service 998 1,154 1,055 Foreclosed assets expense 266 490 528 Intangible amortization 1,377 1,157 446 Operational losses 1,564 737 764 Provision for foreclosed asset losses 140 502 208 Change in reserve for unfunded commitments 244 330 (395 ) Legal settlement 1,450 — — Merger & acquisition expense 784 586 4,858 Miscellaneous other 12,174 11,085 10,919 Total other noninterest expense 65,273 59,436 52,835 Total noninterest expense $ 145,997 $ 130,841 $ 110,379 Merger and acquisition expense: Base salaries, net of loan origination costs $ 187 — — Incentive compensation — — $ 1,174 Benefits and other compensation costs — — 94 Data processing and software — $ 108 475 Professional fees 342 120 2,390 Other 255 358 725 Total merger expense $ 784 $ 586 $ 4,858 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Components of Consolidated Income Tax Expense | The components of consolidated income tax expense are as follows: 2016 2015 2014 (in thousands) Current tax expense Federal $ 17,401 $ 21,076 $ 14,485 State 7,121 7,139 5,016 $ 24,522 28,215 19,501 Deferred tax expense (benefit) Federal 2,735 408 (794 ) State 455 273 (199 ) 3,190 681 (993 ) Total tax expense $ 27,712 $ 28,896 $ 18,508 |
Schedule of Components of Investments in Qualified Affordable Housing Projects | The Company recognized, as components of tax expense, tax credits and other tax benefits, and amortization expense relating to our investments in Qualified Affordable Housing Projects as followers for the periods indicated: Year ended December 31, 2016 2015 2014 (in thousands) Tax credits and other tax benefits – decrease in tax expense $ (954 ) $ (354 ) — Depreciation – increase in tax expense $ 757 $ 277 — |
Reconciliation of Effective Tax Rate and Statutory Federal Income Tax Rate | The effective tax rate and the statutory federal income tax rate are reconciled as follows: Years Ended December 31, 2016 2015 2014 Federal statutory income tax rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal tax benefit 6.8 6.6 7.0 Tax-exempt (1.8 ) (0.7 ) (0.4 ) Tax-exempt (1.3 ) (1.3 ) (1.5 ) Low income housing tax credit benefits (1.3 ) (0.4 ) — Low income housing tax credit amortization 0.8 — — Non-deductible 0.1 0.1 0.2 Non-deductible — — 1.0 Other (0.1 ) 0.4 0.2 Effective Tax Rate 38.2 % 39.7 % 41.5 % |
Company's Net Deferred Tax Asset Recorded in Other Assets | The temporary differences, tax effected, which give rise to the Company’s net deferred tax asset recorded in other assets are as follows as of December 31 for the years indicated: 2016 2015 (in thousands) Deferred tax assets: Allowance for losses and reserve for unfunded commitments $ 14,809 $ 16,182 Deferred compensation 2,743 2,827 Accrued pension liability 9,220 8,597 Accrued bonus 1,727 1,326 Other accrued expenses 781 143 Unfunded status of the supplemental retirement plans 1,982 2,411 State taxes 2,257 2,297 Share based compensation 2,063 2,701 Nonaccrual interest 408 1,979 OREO write downs 132 241 Indemnification asset 313 219 Acquisition cost basis 3,996 5,118 Unrealized loss on securities 3,730 — Tax credits 491 491 Net operating loss carryforwards 3,354 5,252 Other 981 889 Total deferred tax assets 48,987 50,673 Deferred tax liabilities: Securities income (1,362 ) (1,362 ) Unrealized gain on securities — (902 ) Depreciation (3,032 ) (2,654 ) Merger related fixed asset valuations (54 ) (54 ) Securities accretion (478 ) (485 ) Mortgage servicing rights valuation (2,710 ) (3,118 ) Core deposit intangible (1,813 ) (2,331 ) Junior subordinated debt (2,616 ) (2,699 ) Prepaid expenses and other (723 ) (628 ) Total deferred tax liability (12,788 ) (14,233 ) Net deferred tax asset $ 36,199 $ 36,440 |
Summary of Changes in Unrecognized Tax Benefit (Including Interest and Penalties) | A summary of changes in the Company’s unrecognized tax benefit (including interest and penalties) in 2016 is as follows: (in thousands) UTB Interest/Penalties Total As of December 31, 2015 $ 168 $ 14 $ 182 Lapse of the applicable statute of limitations (54 ) (7 ) (61 ) As of December 31, 2016 $ 114 7 121 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | Earnings per share have been computed based on the following: Years ended December 31, 2016 2015 2014 Net income (in thousands) $ 44,811 $ 43,818 $ 26,108 (number of shares in thousands) Average number of common shares outstanding 22,814 22,750 17,716 Effect of dilutive stock options 273 248 207 Average number of common shares outstanding used to calculate diluted earnings per share 23,087 22,998 17,923 |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Components of Other Comprehensive Income and Related Tax Effects | The components of other comprehensive income and related tax effects are as follows: Years Ended December 31, 2016 2015 2014 (in thousands) Unrealized holding losses on available for sale securities before reclassifications $ (11,015 ) $ (1,895 ) $ (162 ) Amounts reclassified out of accumulated other comprehensive income — — — Unrealized holding losses on available for sale securities after reclassifications (11,015 ) (1,895 ) (162 ) Tax effect 4,631 797 68 Unrealized holding losses on available for sale securities, net of tax (6,384 ) (1,098 ) (94 ) Change in unfunded status of the supplemental retirement plans before reclassifications 511 1,384 (7,253 ) Amounts reclassified out of accumulated other comprehensive income: Amortization of prior service cost (40 ) (57 ) 138 Amortization of actuarial losses 550 823 17 Total amounts reclassified out of accumulated other comprehensive income 510 766 155 Change in unfunded status of the supplemental retirement plans after reclassifications 1,021 2,150 (7,098 ) Tax effect (429 ) (904 ) 2,984 Change in unfunded status of the supplemental retirement plans, net of tax 592 1,246 (4,114 ) Change in joint beneficiary agreement liability before reclassifications (343 ) 277 148 Amounts reclassified out of accumulated other comprehensive income — — — Change in joint beneficiary agreement liability after reclassifications (343 ) 277 148 Tax effect — — — Change in joint beneficiary agreement liability, net of tax (343 ) 277 148 Total other comprehensive income (loss) $ (6,135 ) $ 425 $ (4,060 ) |
Components of Accumulated Other Comprehensive Income | The components of accumulated other comprehensive income, included in shareholders’ equity, are as follows: December 31, 2016 2015 (in thousands) Net unrealized gains on available for sale securities $ (8,870 ) $ 2,145 Tax effect 3,729 (902 ) Unrealized holding gains on available for sale securities, net of tax (5,141 ) 1,243 Unfunded status of the supplemental retirement plans (4,714 ) (5,735 ) Tax effect 1,982 2,411 Unfunded status of the supplemental retirement plans, net of tax (2,732 ) (3,324 ) Joint beneficiary agreement liability (40 ) 303 Tax effect — — Joint beneficiary agreement liability, net of tax (40 ) 303 Accumulated other comprehensive loss $ (7,913 ) $ (1,778 ) |
Retirement Plans (Tables)
Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Defined Benefit Pension Plans | Amounts recognized as a component of accumulated other comprehensive loss as of year-end December 31, (in thousands) 2016 2015 Transition obligation $ 7 $ 7 Prior service cost (75 ) (115 ) Net actuarial loss 4,782 5,843 Amount included in accumulated other comprehensive loss 4,714 5,735 Deferred tax benefit (1,982 ) (2,411 ) Amount included in accumulated other comprehensive loss, net of tax $ 2,732 $ 3,324 |
Information Pertaining to Activity in Supplemental Retirement Plans | Information pertaining to the activity in the supplemental retirement plans, using a measurement date of December 31, is as follows: December 31, 2016 2015 (in thousands) Change in benefit obligation: Benefit obligation at beginning of year $ (26,184 ) $ (26,798 ) Acquisition — — Service cost (1,042 ) (1,023 ) Interest cost (1,025 ) (957 ) Actuarial (loss)/gain 511 1,382 Benefits paid 1,095 1,212 Benefit obligation at end of year $ (26,645 ) $ (26,184 ) Change in plan assets: Fair value of plan assets at beginning of year $ — $ — Fair value of plan assets at end of year $ — $ — Funded status $ (26,645 ) $ (26,184 ) Unrecognized net obligation existing at January 1, 1986 7 7 Unrecognized net actuarial loss 4,782 5,843 Unrecognized prior service cost (75 ) (115 ) Accumulated other comprehensive income (4,714 ) (5,735 ) Accrued benefit cost $ (26,645 ) $ (26,184 ) Accumulated benefit obligation $ (25,241 ) $ (24,469 ) |
Net Periodic Benefit Cost Recognized for Supplemental Retirement Plans | The following table sets forth the net periodic benefit cost recognized for the supplemental retirement plans: Years Ended December 31, 2016 2015 2014 (in thousands) Net pension cost included the following components: Service cost-benefits earned during the period $ 1,042 $ 1,023 $ 652 Interest cost on projected benefit obligation 1,025 957 739 Amortization of net obligation at transition 2 2 2 Amortization of prior service cost (41 ) (57 ) 138 Recognized net actuarial loss 549 823 16 Net periodic pension cost $ 2,577 $ 2,748 $ 1,547 |
Assumptions Used in Accounting for Plans | The following table sets forth assumptions used in accounting for the plans: Years Ended December 31, 2016 2015 2014 Discount rate used to calculate benefit obligation 3.80 % 4.00 % 3.65 % Discount rate used to calculate net periodic pension cost 3.80 % 4.00 % 3.65 % Average annual increase in executive compensation 2.50 % 2.50 % 2.50 % Average annual increase in director compensation 2.50 % 2.50 % 2.50 % |
Expected Benefit Payments to Participants and Estimated Contributions to be Made by Company | The following table sets forth the expected benefit payments to participants and estimated contributions to be made by the Company under the supplemental retirement plans for the years indicated: Years Ended Expected Benefit Estimated (in thousands) 2017 $ 1,067 $ 1,067 2018 958 958 2019 823 823 2020 701 701 2021 520 520 2022-2026 $ 3,212 $ 3,212 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |
Summary of Activity in Lending Transactions | The following table summarizes the activity in these loans for the periods indicated (in thousands): Balance December 31, 2014 3,132 Advances/new loans 3,098 Removed/payments (2,029 ) Balance December 31, 2015 $ 4,201 Advances/new loans 730 Removed/payments (2,499 ) Balance December 31, 2016 $ 2,432 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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 December 31, 2016 Total Level 1 Level 2 Level 3 Securities available-for-sale: Obligations of U.S. government corporations and agencies $ 429,678 — $ 429,678 — Obligations of states and political subdivisions 117,617 — 117,617 — Marketable equity securities 2,938 $ 2,938 — — Mortgage servicing rights 6,595 — — $ 6,595 Total assets measured at fair value $ 556,828 $ 2,938 $ 547,295 $ 6,595 Fair value at December 31, 2015 Total Level 1 Level 2 Level 3 Securities available-for-sale: Obligations of U.S. government corporations and agencies $ 313,682 — $ 313,682 — Obligations of states and political subdivisions 88,218 — 88,218 — Marketable equity securities 2,985 $ 2,985 — — Mortgage servicing rights 7,618 — — $ 7,618 Total assets measured at fair value $ 412,503 $ 2,985 $ 401,900 $ 7,618 |
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 years ended December 31, 2016 and 2015. Had there been any transfer into or out of Level 3 during 2016 or 2015, 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): Year ended December 31, Ending Transfers Change Issuances Beginning 2016: Mortgage servicing rights $ 6,595 — $ (2,184 ) $ 1,161 $ 7,618 2015: Mortgage servicing rights $ 7,618 — $ (701 ) $ 941 $ 7,378 |
Quantitative Information about Recurring Level 3 Fair Value Measurements | The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2016: Fair Value Valuation Technique Unobservable Inputs Range, Mortgage Servicing Rights $6,595 Discounted cash flow Constant prepayment rate 6.9%-16.6%, 8.8% Discount rate 14.0%-16.0%, 14.0% |
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | The tables below present the recorded amount of assets and liabilities measured at fair value on a nonrecurring basis, as of the dates indicated, that had a write-down or an additional allowance provided during the periods indicated (in thousands): Year ended December 31, 2016 Total Level 1 Level 2 Level 3 Total Gains Fair value: Impaired Originated & PNCI loans $ 1,107 — — $ 1,107 $ (409 ) Foreclosed assets 2,253 2,253 (86 ) Total assets measured at fair value $ 3,360 — — $ 3,360 $ (495 ) Year ended December 31, 2015 Total Level 1 Level 2 Level 3 Total Gains Fair value: Impaired Originated & PNCI loans $ 4,649 — — $ 4,649 $ (663 ) Foreclosed assets 1,839 1,839 (418 ) Total assets measured at fair value $ 6,488 — — $ 6,488 $ (1,081 ) |
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 December 31, 2016: Fair Value (in thousands) Valuation Technique Unobservable Inputs Range, Impaired Originated & PNCI loans $1,107 Sales comparison Adjustment for differences approach between comparable sales Not meaningful Income approach Capitalization rate N/A Foreclosed assets $15 Sales comparison Adjustment for differences (Land & construction) approach between comparable sales Not meaningful Foreclosed assets (residential $1,564 Sales comparison Adjustment for differences (Residential real estate) approach between comparable sales Not meaningful Foreclosed assets $674 Sales comparison Adjustment for differences (Commercial real estate) approach between comparable sales Not meaningful |
Estimated Fair Values of Financial Instruments that are Reported at Amortized Cost in Consolidated Balance Sheets | The estimated fair values of financial instruments that are reported at amortized cost in the Corporation’s consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, were as follows (in thousands): December 31, 2016 December 31, 2015 Carrying Fair Carrying Fair Financial assets: Level 1 inputs: Cash and due from banks $ 92,197 $ 92,197 $ 94,305 $ 94,305 Cash at Federal Reserve and other banks 213,415 213,415 209,156 209,156 Level 2 inputs: Securities held to maturity 602,536 603,203 726,530 732,208 Restricted equity securities 16,956 N/A 16,596 N/A Loans held for sale 2,998 2,998 1,873 1,873 Level 3 inputs: Loans, net 2,727,090 2,763,473 2,486,926 2,555,297 Financial liabilities: Level 2 inputs: Deposits 3,895,560 3,893,941 3,631,266 3,630,129 Other borrowings 17,493 17,493 12,328 12,328 Level 3 inputs: Junior subordinated debt $ 56,667 $ 49,033 $ 56,470 $ 44,527 Contract Fair Contract Fair Amount Value Amount Value Off-balance Level 3 inputs: Commitments $ 767,274 $ 7,673 $ 705,316 $ 7,053 Standby letters of credit $ 12,763 $ 128 $ 8,330 $ 83 Overdraft privilege commitments $ 98,583 $ 986 $ 94,473 $ 945 |
TriCo Bancshares Condensed Fi65
TriCo Bancshares Condensed Financial Statements (Parent Only) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheets | Condensed Balance Sheets December 31, 2016 2015 Assets (in thousands) Cash and Cash equivalents $ 2,802 $ 2,565 Investment in Tri Counties Bank 529,907 504,655 Other assets 1,711 1,714 Total assets $ 534,420 $ 508,934 Liabilities and shareholders’ equity Other liabilities $ 406 $ 348 Junior subordinated debt 56,667 56,470 Total liabilities 57,073 56,818 Shareholders’ equity: Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 22,867,802 and 22,775,173 shares, respectively 252,820 247,587 Retained earnings 232,440 206,307 Accumulated other comprehensive loss, net (7,913 ) (1,778 ) Total shareholders’ equity 477,347 452,116 Total liabilities and shareholders’ equity $ 534,420 $ 508,934 |
Condensed Statements of Income | Condensed Statements of Income Years ended December 31, 2016 2015 2014 (in thousands) Interest expense $ (2,229 ) $ (1,977 ) $ (1,403 ) Administration expense (725 ) (814 ) (2,720 ) Loss before equity in net income of Tri Counties Bank (2,954 ) (2,791 ) (4,123 ) Equity in net income of Tri Counties Bank: Distributed 16,758 13,304 8,270 Undistributed 29,764 32,131 20,720 Income tax benefit 1,243 1,174 1,241 Net income $ 44,811 $ 43,818 $ 26,108 |
Condensed Statements of Comprehensive Income | Condensed Statements of Comprehensive Income Years ended December 31, 2016 2015 2014 (in thousands) Net income $ 44,811 $ 43,818 $ 26,108 Other comprehensive (loss) income, net of tax: Unrealized holding (losses) gains on securities arising during the period (6,384 ) (1,098 ) (94 ) Change in minimum pension liability 592 1,246 (4,114 ) Change in joint beneficiary agreement liability (343 ) 277 148 Other comprehensive (loss) income (6,135 ) 425 (4,060 ) Net income $ 38,676 $ 44,243 $ 22,048 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows Years ended December 31, 2016 2015 2014 Operating activities: (in thousands) Net income $ 44,811 $ 43,818 $ 26,108 Adjustments to reconcile net income to net cash provided by operating activities: Undistributed equity in earnings of Tri Counties Bank (29,764 ) (32,131 ) (20,720 ) Equity compensation vesting expense 1,467 1,370 1,133 Equity compensation tax effect (155 ) 68 (225 ) Net change in other assets and liabilities (1,210 ) (1,120 ) 671 Net cash provided by operating activities 15,149 12,005 6,967 Investing activities: None Financing activities: Issuance of common stock through option exercise 518 660 616 Equity compensation tax effect 155 (68 ) 225 Repurchase of common stock (1,890 ) (412 ) (292 ) Cash dividends paid — common (13,695 ) (11,849 ) (7,807 ) Net cash used for financing activities (14,912 ) (11,669 ) (7,258 ) (decrease) increase in cash and cash equivalents 237 336 (291 ) Cash and cash equivalents at beginning of year 2,565 2,229 2,520 Cash and cash equivalents at end of year $ 2,802 $ 2,565 $ 2,229 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Actual and Required Capital Ratios of Bank | The following tables presents actual and required capital ratios as of December 31, 2016 and 2015 for the Company and the Bank under Basel III Capital Rules. The minimum capital amounts presented include the minimum required capital levels as of December 31, 2016 and 2015 based on the phased-in phased-in. Minimum Capital Minimum Capital Required to be Required – Basel III Required – Basel III Considered Well Actual Phase-in Fully Phased In Capitalized Amount Ratio Amount Ratio Amount Ratio Amount Ratio (dollars in thousands) As of December 31, 2016: Total Capital (to Risk Weighted Assets): Consolidated $ 503,283 14.65 % $ 274,862 8.00 % $ 360,756 10.50 % N/A N/A Tri Counties Bank $ 500,876 14.59 % $ 274,725 8.00 % $ 360,577 10.50 % $ 343,407 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 468,061 13.62 % $ 206,147 6.00 % $ 292,041 8.50 % N/A N/A Tri Counties Bank $ 465,654 13.56 % $ 206,044 6.00 % $ 291,896 8.50 % $ 274,725 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 414,632 12.07 % $ 154,610 4.50 % $ 240,504 7.00 % N/A N/A Tri Counties Bank $ 465,654 13.56 % $ 154,533 4.50 % $ 240,385 7.00 % $ 223,214 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 468,061 10.62 % $ 176,346 4.00 % $ 176,346 4.00 % N/A N/A Tri Counties Bank $ 465,654 10.56 % $ 176,341 4.00 % $ 176,341 4.00 % $ 220,426 5.00 % As of December 31, 2015: Total Capital (to Risk Weighted Assets): Consolidated $ 474,436 15.09 % $ 251,555 8.00 % $ 330,165 10.50 % N/A N/A Tri Counties Bank $ 473,327 15.06 % $ 251,418 8.00 % $ 329,985 10.50 % $ 314,272 10.00 % Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 435,950 13.86 % $ 188,666 6.00 % $ 267,277 8.50 % N/A N/A Tri Counties Bank $ 434,841 13.84 % $ 188,563 6.00 % $ 267,131 8.50 % $ 251,418 8.00 % Common equity Tier 1 Capital (to Risk Weighted Assets): Consolidated $ 385,747 12.27 % $ 141,499 4.50 % $ 220,110 7.00 % N/A N/A Tri Counties Bank $ 434,841 13.84 % $ 141,422 4.50 % $ 219,990 7.00 % $ 204,277 6.50 % Tier 1 Capital (to Average Assets): Consolidated $ 435,950 10.79 % $ 161,562 4.00 % $ 161,562 4.00 % N/A N/A Tri Counties Bank $ 434,841 10.76 % $ 161,601 4.00 % $ 161,601 4.00 % $ 202,002 5.00 % |
Summary of Quarterly Results 67
Summary of Quarterly Results of Operations (unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Results of Operations | The following table sets forth the results of operations for the four quarters of 2015 and 2014, and is unaudited; however, in the opinion of Management, it reflects all adjustments (which include only normal recurring adjustments) necessary to present fairly the summarized results for such periods. 2016 Quarters Ended December 31, September 30, June 30, March 31, (dollars in thousands, except per share data) Interest and dividend income: Loans: Discount accretion PCI – cash basis $ 483 $ 777 $ 426 $ 269 Discount accretion PCI – other 658 569 415 (45 ) Discount accretion PNCI 637 883 1,459 868 All other loan interest income 34,463 33,540 32,038 33,646 Total loan interest income 36,241 35,769 34,338 34,738 Debt securities, dividends and interest bearing cash at Banks (not FTE) 8,374 7,940 8,252 8,056 Total interest income 44,615 43,709 42,590 42,794 Interest expense 1,460 1,439 1,430 1,392 Net interest income 43,155 42,270 41,160 41,402 (Benefit from reversal of) provision for loan losses (1,433 ) 3,973 ) (773 ) 209 Net interest income after provision for loan losses 44,588 46,243 41,933 41,193 Noninterest income 12,462 11,066 11,245 9,790 Noninterest expense 36,563 37,416 38,267 33,751 Income before income taxes 20,487 19,893 14,911 17,232 Income tax expense 7,954 7,694 5,506 6,558 Net income $ 12,533 $ 12,199 $ 9,405 $ 10,674 Per common share: Net income (diluted) $ 0.54 $ 0.53 $ 0.41 $ 0.46 Dividends $ 0.15 $ 0.15 $ 0.15 $ 0.15 2015 Quarters Ended December 31, September 30, June 30, March 31, (dollars in thousands, except per share data) Interest and dividend income: Loans: Discount accretion PCI – cash basis $ 302 $ 445 $ 404 $ 172 Discount accretion PCI – other 1,392 1,090 907 1,274 Discount accretion PNCI 573 1,590 822 1,348 All other loan interest income 32,571 30,689 29,886 28,371 Total loan interest income 34,838 33,814 32,019 31,165 Debt securities, dividends and interest bearing cash at banks (not FTE) 7,652 7,518 7,848 6,560 Total interest income 42,490 41,332 39,867 37,725 Interest expense 1,349 1,339 1,346 1,382 Net interest income 41,141 39,993 38,521 36,343 (Benefit from) provision for loan losses (908 ) (866 ) (633 ) 197 Net interest income after provision for loan losses 42,049 40,859 39,154 36,146 Noninterest income 11,445 11,642 12,080 10,180 Noninterest expense 34,684 31,439 32,436 32,282 Income before income taxes 18,810 21,062 18,798 14,044 Income tax expense 7,388 8,368 7,432 5,708 Net income $ 11,422 $ 12,694 $ 11,366 $ 8,336 Per common share: Net income (diluted) $ 0.50 $ 0.55 $ 0.49 $ 0.36 Dividends $ 0.15 $ 0.13 $ 0.13 $ 0.11 |
Summary of Significant Accoun68
Summary of Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2015USD ($) | Dec. 31, 2016USD ($)BranchesSegmentTrustLocationBusiness | Dec. 31, 2015USD ($) | |
Significant Of Accounting Policies [Line Items] | |||
Number of subsidiary business trusts | Trust | 5 | ||
Company's investments in the trusts | $ 1,702,000 | ||
Number of business segment | Segment | 1 | ||
Trading securities | $ 0 | $ 0 | |
Recognized OTTI losses | $ 0 | $ 0 | |
Loans contractual past due | 90 days | ||
TDR loans payment period in nonaccrual status | 6 months | ||
Tri Counties Bank [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Number of locations acquired | Location | 3 | ||
Number of traditional operating branches | Branches | 58 | ||
Number of in-store operating branches | Branches | 10 | ||
California [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Number of counties | Business | 26 | ||
Home Equity Lines of Credit [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Increase in allowance for loan losses due to change in methodology | $ 859,000 | ||
Home Equity Loans [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Increase in allowance for loan losses due to change in methodology | $ 459,000 | ||
Furniture and Equipment [Member] | Minimum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Estimated useful lives of the related assets or lease terms | 3 years | ||
Furniture and Equipment [Member] | Maximum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Estimated useful lives of the related assets or lease terms | 10 years | ||
Land Improvements and Buildings [Member] | Minimum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Estimated useful lives of the related assets or lease terms | 15 years | ||
Land Improvements and Buildings [Member] | Maximum [Member] | |||
Significant Of Accounting Policies [Line Items] | |||
Estimated useful lives of the related assets or lease terms | 40 years |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) | Mar. 18, 2016USD ($)Branches | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Business Acquisition [Line Items] | |||
Goodwill recognized | $ 64,311,000 | $ 63,462,000 | |
Bank of America [Member] | |||
Business Acquisition [Line Items] | |||
Number of branches | Branches | 3 | ||
Acquisition, completion date | Oct. 28, 2015 | ||
Cash consideration | $ 3,204,000 | ||
Deposits | 161,231,000 | ||
Loans | 289,000 | ||
Cash | 159,520,000 | ||
Goodwill recognized | 849,000 | ||
Increase in net book value of land and buildings acquired | 309,000 | ||
Recognized intangible related to acquisition | 2,046,000 | ||
Bank of America [Member] | Core Deposit Intangibles [Member] | |||
Business Acquisition [Line Items] | |||
Recognized intangible related to acquisition | $ 2,046,000 | ||
Percentage of acquired intangibles | 1.50% | ||
Finite lived intangible asset estimated useful life | 7 years |
Business Combinations - Schedul
Business Combinations - Schedule of Fair Value of Consideration Transferred, Identifiable Net Assets Acquired and Resulting Goodwill (Detail) - USD ($) $ in Thousands | Mar. 18, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Liabilities assumed: | |||
Goodwill recognized | $ 64,311 | $ 63,462 | |
Bank of America [Member] | |||
Fair value of consideration transferred: | |||
Cash consideration | $ 3,204 | ||
Total fair value of consideration transferred | 3,204 | ||
Asset acquired: | |||
Cash and cash equivalents | 159,520 | ||
Loans | 289 | ||
Premises and equipment | 1,590 | ||
Core deposit intangible | 2,046 | ||
Other assets | 141 | ||
Total assets acquired | 163,586 | ||
Liabilities assumed: | |||
Deposits | 161,231 | ||
Total liabilities assumed | 161,231 | ||
Total net assets acquired | 2,355 | ||
Goodwill recognized | $ 849 |
Business Combinations - Summary
Business Combinations - Summary of Cash Paid and Estimated Fair Value Adjustments Resulting in Goodwill (Detail) - USD ($) $ in Thousands | Mar. 18, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | |||
Goodwill | $ 64,311 | $ 63,462 | |
Bank of America [Member] | |||
Business Acquisition [Line Items] | |||
Cash paid | $ 3,204 | ||
Cost basis net assets acquired | 0 | ||
Fair Value Adjustments, Premises and Equipment | (309) | ||
Core deposit intangible | (2,046) | ||
Goodwill | 849 | ||
Bank of America [Member] | Loans [Member] | |||
Business Acquisition [Line Items] | |||
Fair Value Adjustments | $ 0 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Values of Investments in Debt and Equity Securities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $ 559,103 | $ 402,740 |
Gross Unrealized Gains | 2,216 | 4,189 |
Gross Unrealized Losses | (11,086) | (2,044) |
Estimated Fair Value | 550,233 | 404,885 |
Amortized Cost, Held to Maturity | 602,536 | 726,530 |
Gross Unrealized Gains, Held to Maturity | 5,057 | 8,671 |
Gross Unrealized Losses, Held to Maturity | (4,390) | (2,992) |
Estimated Fair Value, Held to Maturity | 603,203 | 732,209 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 434,357 | 312,917 |
Gross Unrealized Gains | 1,949 | 2,761 |
Gross Unrealized Losses | (6,628) | (1,996) |
Estimated Fair Value | 429,678 | 313,682 |
Amortized Cost, Held to Maturity | 587,982 | 711,994 |
Gross Unrealized Gains, Held to Maturity | 5,001 | 8,394 |
Gross Unrealized Losses, Held to Maturity | (4,199) | (2,882) |
Estimated Fair Value, Held to Maturity | 588,784 | 717,506 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 121,746 | 86,823 |
Gross Unrealized Gains | 267 | 1,428 |
Gross Unrealized Losses | (4,396) | (33) |
Estimated Fair Value | 117,617 | 88,218 |
Amortized Cost, Held to Maturity | 14,554 | 14,536 |
Gross Unrealized Gains, Held to Maturity | 56 | 277 |
Gross Unrealized Losses, Held to Maturity | (191) | (110) |
Estimated Fair Value, Held to Maturity | 14,419 | 14,703 |
Marketable Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,000 | 3,000 |
Gross Unrealized Losses | (62) | (15) |
Estimated Fair Value | $ 2,938 | $ 2,985 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($)Investmentsecurities | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Investment Securities [Line Items] | |||
Investment securities sold | $ 0 | $ 2,000 | $ 14,130,000 |
Gain or loss on sale of investment securities | 0 | ||
Investment securities carrying value | 292,737,000 | $ 297,547,000 | |
Residential real estate mortgage-backed securities | $ 1,022,339,000 | ||
Life of mortgage-backed securities | 6 years 1 month 6 days | ||
Obligations of U.S. Government Corporations and Agencies [Member] | |||
Investment Securities [Line Items] | |||
Debt securities | Investmentsecurities | 62 | ||
Percentage of aggregate depreciation in unrealized losses | 1.64% | ||
Obligations of States and Political Subdivisions [Member] | |||
Investment Securities [Line Items] | |||
Debt securities | Investmentsecurities | 107 | ||
Percentage of aggregate depreciation in unrealized losses | 4.35% | ||
Marketable Equity Securities [Member] | |||
Investment Securities [Line Items] | |||
Percentage of aggregate depreciation in unrealized losses | 2.07% |
Investment Securities - Amort74
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Investments, Debt and Equity Securities [Abstract] | ||
Due in one year, Amortized Cost | $ 1 | |
Due after one year through five years, Amortized Cost | 9,392 | |
Due after five years through ten years, Amortized Cost | 14,548 | |
Due after ten years, Amortized Cost | 535,162 | |
Totals, Amortized Cost | 559,103 | |
Due in one year, Estimated Fair Value | 1 | |
Due after one year through five years, Estimated Fair Value | 9,650 | |
Due after five years through ten years, Estimated Fair Value | 15,132 | |
Due after ten years, Estimated Fair Value | 525,450 | |
Totals, Estimated Fair Value | 550,233 | |
Due in one year, Amortized Cost, Held to Maturity | 0 | |
Due after one year through five years, Amortized Cost, Held to Maturity | 1,177 | |
Due after five years through ten years, Amortized Cost, Held to Maturity | 4,776 | |
Due after ten years, Amortized Cost, Held to Maturity | 596,583 | |
Totals, Amortized Cost, Held to Maturity | 602,536 | $ 726,530 |
Due in one year, Estimated Fair Value, Held to Maturity | 0 | |
Due after one year through five years, Estimated Fair Value, Held to Maturity | 1,185 | |
Due after five years through ten years, Estimated Fair Value, Held to Maturity | 4,762 | |
Due after ten years, Estimated Fair Value, Held to Maturity | 597,256 | |
Estimated Fair Value, Held to Maturity | $ 603,203 | $ 732,209 |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses on Investment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair Value | $ 464,152 | $ 202,760 |
Less than 12 months, Unrealized Loss | (11,086) | (2,044) |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Unrealized Loss | 0 | 0 |
Total Fair Value | 464,152 | 202,760 |
Total Unrealized Loss | (11,086) | (2,044) |
Less than 12 months, Fair Value, held to maturity | 290,481 | 198,978 |
Less than 12 months, Unrealized Loss, held to maturity | (4,390) | (2,893) |
12 months or more, Fair Value, held to maturity | 1,121 | |
12 months or more, Unrealized Loss, held to maturity | (99) | |
Total Fair Value, held to maturity | 290,481 | 200,099 |
Total Unrealized Loss, held to maturity | (4,390) | (2,992) |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair Value | 370,389 | 193,306 |
Less than 12 months, Unrealized Loss | (6,628) | (1,996) |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Unrealized Loss | 0 | 0 |
Total Fair Value | 370,389 | 193,306 |
Total Unrealized Loss | (6,628) | (1,996) |
Less than 12 months, Fair Value, held to maturity | 280,497 | 198,481 |
Less than 12 months, Unrealized Loss, held to maturity | (4,199) | (2,882) |
Total Fair Value, held to maturity | 280,497 | 198,481 |
Total Unrealized Loss, held to maturity | (4,199) | (2,882) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair Value | 90,825 | 6,469 |
Less than 12 months, Unrealized Loss | (4,396) | (33) |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Unrealized Loss | 0 | 0 |
Total Fair Value | 90,825 | 6,469 |
Total Unrealized Loss | (4,396) | (33) |
Less than 12 months, Fair Value, held to maturity | 9,984 | 497 |
Less than 12 months, Unrealized Loss, held to maturity | (191) | (11) |
12 months or more, Fair Value, held to maturity | 1,121 | |
12 months or more, Unrealized Loss, held to maturity | (99) | |
Total Fair Value, held to maturity | 9,984 | 1,618 |
Total Unrealized Loss, held to maturity | (191) | (110) |
Marketable Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Fair Value | 2,938 | 2,985 |
Less than 12 months, Unrealized Loss | (62) | (15) |
12 months or more, Fair Value | 0 | 0 |
12 months or more, Unrealized Loss | 0 | 0 |
Total Fair Value | 2,938 | 2,985 |
Total Unrealized Loss | $ (62) | $ (15) |
Loans - Summary of Loan Balance
Loans - Summary of Loan Balances (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | $ 2,759,593 | $ 2,522,937 | $ 2,282,524 | |
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,759,593 | 2,522,937 | 2,282,524 | |
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,759,593 | 2,522,937 | 2,282,524 | |
Total loans, net of deferred loan fees and discounts | 2,759,593 | 2,522,937 | 2,282,524 | |
Commercial | 2,785,312 | 2,555,610 | ||
Unamortized net deferred loan fees | (6,916) | (6,551) | ||
Discounts to principal balance of loans owed, net of charge-offs | (18,803) | (26,122) | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,759,593 | 2,522,937 | 2,282,524 | |
Noncovered loans | 2,756,417 | 2,517,702 | ||
Covered loans | 3,176 | 5,235 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,759,593 | 2,522,937 | 2,282,524 | |
Allowance for loan losses | (32,503) | (36,011) | (36,585) | $ (38,245) |
Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,057,824 | 1,811,832 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,057,824 | 1,811,832 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,057,824 | 1,811,832 | ||
Total loans, net of deferred loan fees and discounts | 2,057,824 | 1,811,832 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,057,824 | 1,811,832 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,057,824 | 1,811,832 | ||
Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 362,303 | 395,283 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 362,303 | 395,283 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 362,303 | 395,283 | ||
Total loans, net of deferred loan fees and discounts | 362,303 | 395,283 | ||
Total loans, net of unamortized deferred loan fees and discounts | 362,303 | 395,283 | ||
Total loans, net of unamortized deferred loan fees and discounts | 362,303 | 395,283 | ||
Commercial Portfolio Segment [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 217,047 | 194,913 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 217,047 | 194,913 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 217,047 | 194,913 | ||
Total loans, net of deferred loan fees and discounts | 217,047 | 194,913 | ||
Total loans, net of unamortized deferred loan fees and discounts | 217,047 | 194,913 | ||
Total loans, net of unamortized deferred loan fees and discounts | 217,047 | 194,913 | ||
Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 122,419 | 120,909 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 122,419 | 120,909 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 122,419 | 120,909 | ||
Total loans, net of deferred loan fees and discounts | 122,419 | 120,909 | ||
Total loans, net of unamortized deferred loan fees and discounts | 122,419 | 120,909 | ||
Total loans, net of unamortized deferred loan fees and discounts | 122,419 | 120,909 | ||
Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | ||
Total loans, net of deferred loan fees and discounts | 309,907 | 314,265 | ||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | ||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | ||
Home Equity Loans [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 41,822 | 40,362 | 31,314 | |
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 41,822 | 40,362 | 31,314 | |
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 41,822 | 40,362 | 31,314 | |
Total loans, net of deferred loan fees and discounts | 41,822 | 40,362 | 31,314 | |
Total loans, net of unamortized deferred loan fees and discounts | 41,822 | 40,362 | 31,314 | |
Total loans, net of unamortized deferred loan fees and discounts | 41,822 | 40,362 | 31,314 | |
Allowance for loan losses | (2,617) | (3,138) | (1,797) | (1,208) |
Other Consumer [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 30,766 | 32,429 | 33,074 | |
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 30,766 | 32,429 | 33,074 | |
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 30,766 | 32,429 | 33,074 | |
Total loans, net of deferred loan fees and discounts | 30,766 | 32,429 | 33,074 | |
Total loans, net of unamortized deferred loan fees and discounts | 30,766 | 32,429 | 33,074 | |
Total loans, net of unamortized deferred loan fees and discounts | 30,766 | 32,429 | 33,074 | |
Allowance for loan losses | (622) | (688) | (719) | (589) |
Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,747,917 | 1,497,567 | 1,335,939 | |
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,747,917 | 1,497,567 | 1,335,939 | |
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,747,917 | 1,497,567 | 1,335,939 | |
Total loans, net of deferred loan fees and discounts | 1,747,917 | 1,497,567 | 1,335,939 | |
Total loans, net of unamortized deferred loan fees and discounts | 1,747,917 | 1,497,567 | 1,335,939 | |
Total loans, net of unamortized deferred loan fees and discounts | 1,747,917 | 1,497,567 | 1,335,939 | |
Allowance for loan losses | (11,905) | (11,443) | (9,227) | (9,700) |
Commercial [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 66,990 | 74,774 | 36,518 | |
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 66,990 | 74,774 | 36,518 | |
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 66,990 | 74,774 | 36,518 | |
Total loans, net of deferred loan fees and discounts | 66,990 | 74,774 | 36,518 | |
Total loans, net of unamortized deferred loan fees and discounts | 66,990 | 74,774 | 36,518 | |
Total loans, net of unamortized deferred loan fees and discounts | 66,990 | 74,774 | 36,518 | |
Allowance for loan losses | (680) | (812) | (411) | (1,263) |
Home Equity Lines of Credit [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 289,715 | 322,492 | 352,584 | |
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 289,715 | 322,492 | 352,584 | |
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 289,715 | 322,492 | 352,584 | |
Total loans, net of deferred loan fees and discounts | 289,715 | 322,492 | 352,584 | |
Total loans, net of unamortized deferred loan fees and discounts | 289,715 | 322,492 | 352,584 | |
Total loans, net of unamortized deferred loan fees and discounts | 289,715 | 322,492 | 352,584 | |
Allowance for loan losses | (7,044) | (11,253) | (15,676) | (16,375) |
Residential [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | 279,420 | |
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | 279,420 | |
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | 279,420 | |
Total loans, net of deferred loan fees and discounts | 309,907 | 314,265 | 279,420 | |
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | 279,420 | |
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | 279,420 | |
Allowance for loan losses | (2,387) | (2,507) | (3,086) | (3,154) |
Residential [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 55,429 | 46,135 | 38,618 | |
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 55,429 | 46,135 | 38,618 | |
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 55,429 | 46,135 | 38,618 | |
Total loans, net of deferred loan fees and discounts | 55,429 | 46,135 | 38,618 | |
Total loans, net of unamortized deferred loan fees and discounts | 55,429 | 46,135 | 38,618 | |
Total loans, net of unamortized deferred loan fees and discounts | 55,429 | 46,135 | 38,618 | |
Allowance for loan losses | (1,417) | (899) | $ (1,434) | $ (1,559) |
Originated [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,356,327 | 1,988,745 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,356,327 | 1,988,745 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,356,327 | 1,988,745 | ||
Total loans, net of deferred loan fees and discounts | 2,356,327 | 1,988,745 | ||
Commercial | 2,363,243 | 1,995,296 | ||
Unamortized net deferred loan fees | (6,916) | (6,551) | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,356,327 | 1,988,745 | ||
Noncovered loans | 2,356,327 | 1,988,745 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,356,327 | 1,988,745 | ||
Allowance for loan losses | (28,141) | (31,271) | ||
Originated [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,714,029 | 1,371,228 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,714,029 | 1,371,228 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,714,029 | 1,371,228 | ||
Total loans, net of deferred loan fees and discounts | 1,714,029 | 1,371,228 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,714,029 | 1,371,228 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,714,029 | 1,371,228 | ||
Originated [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 328,831 | 349,134 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 328,831 | 349,134 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 328,831 | 349,134 | ||
Total loans, net of deferred loan fees and discounts | 328,831 | 349,134 | ||
Total loans, net of unamortized deferred loan fees and discounts | 328,831 | 349,134 | ||
Total loans, net of unamortized deferred loan fees and discounts | 328,831 | 349,134 | ||
Originated [Member] | Commercial Portfolio Segment [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 200,735 | 170,320 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 200,735 | 170,320 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 200,735 | 170,320 | ||
Total loans, net of deferred loan fees and discounts | 200,735 | 170,320 | ||
Total loans, net of unamortized deferred loan fees and discounts | 200,735 | 170,320 | ||
Total loans, net of unamortized deferred loan fees and discounts | 200,735 | 170,320 | ||
Originated [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 112,732 | 98,063 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 112,732 | 98,063 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 112,732 | 98,063 | ||
Total loans, net of deferred loan fees and discounts | 112,732 | 98,063 | ||
Total loans, net of unamortized deferred loan fees and discounts | 112,732 | 98,063 | ||
Total loans, net of unamortized deferred loan fees and discounts | 112,732 | 98,063 | ||
Originated [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 229,609 | 207,585 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 229,609 | 207,585 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 229,609 | 207,585 | ||
Total loans, net of deferred loan fees and discounts | 229,609 | 207,585 | ||
Total loans, net of unamortized deferred loan fees and discounts | 229,609 | 207,585 | ||
Total loans, net of unamortized deferred loan fees and discounts | 229,609 | 207,585 | ||
Originated [Member] | Home Equity Loans [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 37,074 | 34,717 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 37,074 | 34,717 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 37,074 | 34,717 | ||
Total loans, net of deferred loan fees and discounts | 37,074 | 34,717 | ||
Total loans, net of unamortized deferred loan fees and discounts | 37,074 | 34,717 | ||
Total loans, net of unamortized deferred loan fees and discounts | 37,074 | 34,717 | ||
Originated [Member] | Other Consumer [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 28,167 | 28,998 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 28,167 | 28,998 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 28,167 | 28,998 | ||
Total loans, net of deferred loan fees and discounts | 28,167 | 28,998 | ||
Total loans, net of unamortized deferred loan fees and discounts | 28,167 | 28,998 | ||
Total loans, net of unamortized deferred loan fees and discounts | 28,167 | 28,998 | ||
Originated [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,484,420 | 1,163,643 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,484,420 | 1,163,643 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,484,420 | 1,163,643 | ||
Total loans, net of deferred loan fees and discounts | 1,484,420 | 1,163,643 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,484,420 | 1,163,643 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,484,420 | 1,163,643 | ||
Originated [Member] | Commercial [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 58,119 | 66,285 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 58,119 | 66,285 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 58,119 | 66,285 | ||
Total loans, net of deferred loan fees and discounts | 58,119 | 66,285 | ||
Total loans, net of unamortized deferred loan fees and discounts | 58,119 | 66,285 | ||
Total loans, net of unamortized deferred loan fees and discounts | 58,119 | 66,285 | ||
Originated [Member] | Home Equity Lines of Credit [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 263,590 | 285,419 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 263,590 | 285,419 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 263,590 | 285,419 | ||
Total loans, net of deferred loan fees and discounts | 263,590 | 285,419 | ||
Total loans, net of unamortized deferred loan fees and discounts | 263,590 | 285,419 | ||
Total loans, net of unamortized deferred loan fees and discounts | 263,590 | 285,419 | ||
Originated [Member] | Residential [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 54,613 | 31,778 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 54,613 | 31,778 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 54,613 | 31,778 | ||
Total loans, net of deferred loan fees and discounts | 54,613 | 31,778 | ||
Total loans, net of unamortized deferred loan fees and discounts | 54,613 | 31,778 | ||
Total loans, net of unamortized deferred loan fees and discounts | 54,613 | 31,778 | ||
PNCI [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 378,222 | 493,988 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 378,222 | 493,988 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 378,222 | 493,988 | ||
Total loans, net of deferred loan fees and discounts | 378,222 | 493,988 | ||
Commercial | 388,139 | 507,935 | ||
Discounts to principal balance of loans owed, net of charge-offs | (9,917) | (13,947) | ||
Total loans, net of unamortized deferred loan fees and discounts | 378,222 | 493,988 | ||
Noncovered loans | 378,222 | 493,988 | ||
Total loans, net of unamortized deferred loan fees and discounts | 378,222 | 493,988 | ||
Allowance for loan losses | (1,665) | (1,848) | ||
PNCI [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 328,972 | 415,399 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 328,972 | 415,399 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 328,972 | 415,399 | ||
Total loans, net of deferred loan fees and discounts | 328,972 | 415,399 | ||
Total loans, net of unamortized deferred loan fees and discounts | 328,972 | 415,399 | ||
Total loans, net of unamortized deferred loan fees and discounts | 328,972 | 415,399 | ||
PNCI [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 27,917 | 36,720 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 27,917 | 36,720 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 27,917 | 36,720 | ||
Total loans, net of deferred loan fees and discounts | 27,917 | 36,720 | ||
Total loans, net of unamortized deferred loan fees and discounts | 27,917 | 36,720 | ||
Total loans, net of unamortized deferred loan fees and discounts | 27,917 | 36,720 | ||
PNCI [Member] | Commercial Portfolio Segment [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 12,321 | 19,744 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 12,321 | 19,744 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 12,321 | 19,744 | ||
Total loans, net of deferred loan fees and discounts | 12,321 | 19,744 | ||
Total loans, net of unamortized deferred loan fees and discounts | 12,321 | 19,744 | ||
Total loans, net of unamortized deferred loan fees and discounts | 12,321 | 19,744 | ||
PNCI [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 9,012 | 22,125 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 9,012 | 22,125 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 9,012 | 22,125 | ||
Total loans, net of deferred loan fees and discounts | 9,012 | 22,125 | ||
Total loans, net of unamortized deferred loan fees and discounts | 9,012 | 22,125 | ||
Total loans, net of unamortized deferred loan fees and discounts | 9,012 | 22,125 | ||
PNCI [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 78,935 | 104,535 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 78,935 | 104,535 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 78,935 | 104,535 | ||
Total loans, net of deferred loan fees and discounts | 78,935 | 104,535 | ||
Total loans, net of unamortized deferred loan fees and discounts | 78,935 | 104,535 | ||
Total loans, net of unamortized deferred loan fees and discounts | 78,935 | 104,535 | ||
PNCI [Member] | Home Equity Loans [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 3,618 | 4,018 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 3,618 | 4,018 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 3,618 | 4,018 | ||
Total loans, net of deferred loan fees and discounts | 3,618 | 4,018 | ||
Total loans, net of unamortized deferred loan fees and discounts | 3,618 | 4,018 | ||
Total loans, net of unamortized deferred loan fees and discounts | 3,618 | 4,018 | ||
PNCI [Member] | Other Consumer [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,534 | 3,367 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,534 | 3,367 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,534 | 3,367 | ||
Total loans, net of deferred loan fees and discounts | 2,534 | 3,367 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,534 | 3,367 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,534 | 3,367 | ||
PNCI [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 250,037 | 310,864 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 250,037 | 310,864 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 250,037 | 310,864 | ||
Total loans, net of deferred loan fees and discounts | 250,037 | 310,864 | ||
Total loans, net of unamortized deferred loan fees and discounts | 250,037 | 310,864 | ||
Total loans, net of unamortized deferred loan fees and discounts | 250,037 | 310,864 | ||
PNCI [Member] | Commercial [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 8,871 | 8,489 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 8,871 | 8,489 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 8,871 | 8,489 | ||
Total loans, net of deferred loan fees and discounts | 8,871 | 8,489 | ||
Total loans, net of unamortized deferred loan fees and discounts | 8,871 | 8,489 | ||
Total loans, net of unamortized deferred loan fees and discounts | 8,871 | 8,489 | ||
PNCI [Member] | Home Equity Lines of Credit [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 21,765 | 29,335 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 21,765 | 29,335 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 21,765 | 29,335 | ||
Total loans, net of deferred loan fees and discounts | 21,765 | 29,335 | ||
Total loans, net of unamortized deferred loan fees and discounts | 21,765 | 29,335 | ||
Total loans, net of unamortized deferred loan fees and discounts | 21,765 | 29,335 | ||
PNCI [Member] | Residential [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 141 | 13,636 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 141 | 13,636 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 141 | 13,636 | ||
Total loans, net of deferred loan fees and discounts | 141 | 13,636 | ||
Total loans, net of unamortized deferred loan fees and discounts | 141 | 13,636 | ||
Total loans, net of unamortized deferred loan fees and discounts | 141 | 13,636 | ||
PCI - Cash Basis [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,079 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,079 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,079 | ||
Total loans, net of deferred loan fees and discounts | 2,983 | 5,079 | ||
Commercial | 8,280 | 12,686 | ||
Discounts to principal balance of loans owed, net of charge-offs | (5,297) | (7,607) | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,079 | ||
Noncovered loans | 2,983 | 5,079 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,079 | ||
Allowance for loan losses | (17) | (121) | ||
PCI - Cash Basis [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,078 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,078 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,078 | ||
Total loans, net of deferred loan fees and discounts | 2,983 | 5,078 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,078 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 5,078 | ||
PCI - Cash Basis [Member] | Commercial Portfolio Segment [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1 | |||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1 | |||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1 | |||
Total loans, net of deferred loan fees and discounts | 1 | |||
Total loans, net of unamortized deferred loan fees and discounts | 1 | |||
Total loans, net of unamortized deferred loan fees and discounts | 1 | |||
PCI - Cash Basis [Member] | Home Equity Loans [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 124 | |||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 124 | |||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 124 | |||
Total loans, net of deferred loan fees and discounts | 124 | |||
Total loans, net of unamortized deferred loan fees and discounts | 124 | |||
Total loans, net of unamortized deferred loan fees and discounts | 124 | |||
PCI - Cash Basis [Member] | Home Equity Lines of Credit [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 4,954 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 4,954 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 4,954 | ||
Total loans, net of deferred loan fees and discounts | 2,983 | 4,954 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 4,954 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,983 | 4,954 | ||
PCI - Other [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 22,061 | 35,125 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 22,061 | 35,125 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 22,061 | 35,125 | ||
Total loans, net of deferred loan fees and discounts | 22,061 | 35,125 | ||
Commercial | 25,650 | 39,693 | ||
Discounts to principal balance of loans owed, net of charge-offs | (3,589) | (4,568) | ||
Total loans, net of unamortized deferred loan fees and discounts | 22,061 | 35,125 | ||
Noncovered loans | 18,885 | 29,890 | ||
Covered loans | 3,176 | 5,235 | ||
Total loans, net of unamortized deferred loan fees and discounts | 22,061 | 35,125 | ||
Allowance for loan losses | (2,680) | (2,771) | ||
PCI - Other [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 14,823 | 25,205 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 14,823 | 25,205 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 14,823 | 25,205 | ||
Total loans, net of deferred loan fees and discounts | 14,823 | 25,205 | ||
Total loans, net of unamortized deferred loan fees and discounts | 14,823 | 25,205 | ||
Total loans, net of unamortized deferred loan fees and discounts | 14,823 | 25,205 | ||
PCI - Other [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,572 | 4,351 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,572 | 4,351 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 2,572 | 4,351 | ||
Total loans, net of deferred loan fees and discounts | 2,572 | 4,351 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,572 | 4,351 | ||
Total loans, net of unamortized deferred loan fees and discounts | 2,572 | 4,351 | ||
PCI - Other [Member] | Commercial Portfolio Segment [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 3,991 | 4,848 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 3,991 | 4,848 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 3,991 | 4,848 | ||
Total loans, net of deferred loan fees and discounts | 3,991 | 4,848 | ||
Total loans, net of unamortized deferred loan fees and discounts | 3,991 | 4,848 | ||
Total loans, net of unamortized deferred loan fees and discounts | 3,991 | 4,848 | ||
PCI - Other [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
Total loans, net of deferred loan fees and discounts | 675 | 721 | ||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
PCI - Other [Member] | Residential 1-4 Family [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,363 | 2,145 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,363 | 2,145 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,363 | 2,145 | ||
Total loans, net of deferred loan fees and discounts | 1,363 | 2,145 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,363 | 2,145 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,363 | 2,145 | ||
PCI - Other [Member] | Home Equity Loans [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,130 | 1,503 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,130 | 1,503 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,130 | 1,503 | ||
Total loans, net of deferred loan fees and discounts | 1,130 | 1,503 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,130 | 1,503 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,130 | 1,503 | ||
PCI - Other [Member] | Other Consumer [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 65 | 64 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 65 | 64 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 65 | 64 | ||
Total loans, net of deferred loan fees and discounts | 65 | 64 | ||
Total loans, net of unamortized deferred loan fees and discounts | 65 | 64 | ||
Total loans, net of unamortized deferred loan fees and discounts | 65 | 64 | ||
PCI - Other [Member] | Commercial [Member] | Mortgage Loans on Real Estate [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 13,460 | 23,060 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 13,460 | 23,060 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 13,460 | 23,060 | ||
Total loans, net of deferred loan fees and discounts | 13,460 | 23,060 | ||
Total loans, net of unamortized deferred loan fees and discounts | 13,460 | 23,060 | ||
Total loans, net of unamortized deferred loan fees and discounts | 13,460 | 23,060 | ||
PCI - Other [Member] | Home Equity Lines of Credit [Member] | Consumer [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,377 | 2,784 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,377 | 2,784 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 1,377 | 2,784 | ||
Total loans, net of deferred loan fees and discounts | 1,377 | 2,784 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,377 | 2,784 | ||
Total loans, net of unamortized deferred loan fees and discounts | 1,377 | 2,784 | ||
PCI - Other [Member] | Residential [Member] | Construction [Member] | ||||
Mortgage loans on real estate: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
Consumer: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
Construction: | ||||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
Total loans, net of deferred loan fees and discounts | 675 | 721 | ||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | ||
Total loans, net of unamortized deferred loan fees and discounts | $ 675 | $ 721 |
Loans - Change in Accretable Yi
Loans - Change in Accretable Yield for PCI (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Change in accretable yield: | ||
Balance at beginning of period | $ 13,255 | $ 14,159 |
Accretion to interest income | (4,011) | (6,323) |
Reclassification (to) from nonaccretable difference | 1,104 | 5,419 |
Balance at end of period | $ 10,348 | $ 13,255 |
Allowance for Loan Losses - Sum
Allowance for Loan Losses - Summary of Activity in Allowance for Loan Losses, and Ending Balance of Loans, Net of Unearned Fees for Periods Indicated (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | $ 2,759,593 | $ 2,522,937 | $ 2,282,524 |
Individ. evaluated for impairment | 28,140 | 50,105 | 62,247 |
Loans pooled for evaluation | 2,706,409 | 2,432,628 | 2,167,381 |
Beginning balance | 36,011 | 36,585 | 38,245 |
Charge-offs | (3,230) | (2,816) | (2,558) |
Recoveries | 5,692 | 4,452 | 4,943 |
(Benefit) provision | (5,970) | (2,210) | (4,045) |
Ending balance | 32,503 | 36,011 | 36,585 |
Ending balance: | |||
Individ. evaluated for impairment | 2,046 | 2,890 | 4,267 |
Loans pooled for evaluation | 27,760 | 30,228 | 28,891 |
Mortgage Loans on Real Estate [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,057,824 | 1,811,832 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | 279,420 |
Individ. evaluated for impairment | 3,785 | 6,767 | 7,188 |
Loans pooled for evaluation | 304,759 | 305,353 | 268,227 |
Beginning balance | 2,507 | 3,086 | 3,154 |
Charge-offs | (321) | (224) | (171) |
Recoveries | 880 | 204 | 2 |
(Benefit) provision | (679) | (559) | 101 |
Ending balance | 2,387 | 2,507 | 3,086 |
Ending balance: | |||
Individ. evaluated for impairment | 249 | 335 | 974 |
Loans pooled for evaluation | 1,952 | 2,112 | 1,915 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,747,917 | 1,497,567 | 1,335,939 |
Individ. evaluated for impairment | 15,748 | 32,407 | 41,932 |
Loans pooled for evaluation | 1,718,709 | 1,442,100 | 1,263,090 |
Beginning balance | 11,443 | 9,227 | 9,700 |
Charge-offs | (827) | (110) | |
Recoveries | 920 | 243 | 540 |
(Benefit) provision | 369 | 1,973 | (903) |
Ending balance | 11,905 | 11,443 | 9,227 |
Ending balance: | |||
Individ. evaluated for impairment | 127 | 395 | 410 |
Loans pooled for evaluation | 10,329 | 9,596 | 8,408 |
Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 362,303 | 395,283 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 289,715 | 322,492 | 352,584 |
Individ. evaluated for impairment | 3,196 | 5,747 | 6,968 |
Loans pooled for evaluation | 282,159 | 309,007 | 336,595 |
Beginning balance | 11,253 | 15,676 | 16,375 |
Charge-offs | (585) | (694) | (1,094) |
Recoveries | 2,317 | 666 | 960 |
(Benefit) provision | (5,941) | (4,395) | (565) |
Ending balance | 7,044 | 11,253 | 15,676 |
Ending balance: | |||
Individ. evaluated for impairment | 410 | 605 | 1,974 |
Loans pooled for evaluation | 6,618 | 10,423 | 13,251 |
Consumer and Industrial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 217,047 | 194,913 | 174,945 |
Individ. evaluated for impairment | 4,096 | 2,671 | 1,757 |
Loans pooled for evaluation | 208,960 | 187,393 | 165,753 |
Beginning balance | 5,271 | 4,226 | 4,331 |
Charge-offs | (455) | (680) | (479) |
Recoveries | 404 | 677 | 1,268 |
(Benefit) provision | 611 | 1,048 | (894) |
Ending balance | 5,831 | 5,271 | 4,226 |
Ending balance: | |||
Individ. evaluated for impairment | 1,130 | 1,187 | 423 |
Loans pooled for evaluation | 3,765 | 2,983 | 2,569 |
Construction [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 122,419 | 120,909 | |
Construction [Member] | Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 55,429 | 46,135 | 38,618 |
Individ. evaluated for impairment | 11 | 4 | 2,683 |
Loans pooled for evaluation | 54,743 | 45,410 | 35,260 |
Beginning balance | 899 | 1,434 | 1,559 |
Charge-offs | (4) | ||
Recoveries | 54 | 1,728 | 1,377 |
(Benefit) provision | 464 | (2,263) | (1,498) |
Ending balance | 1,417 | 899 | 1,434 |
Ending balance: | |||
Individ. evaluated for impairment | 60 | ||
Loans pooled for evaluation | 1,371 | 844 | 332 |
Construction [Member] | Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 66,990 | 74,774 | 36,518 |
Individ. evaluated for impairment | 490 | 99 | |
Loans pooled for evaluation | 66,990 | 74,284 | 36,419 |
Beginning balance | 812 | 411 | 1,263 |
Charge-offs | (69) | ||
Recoveries | 78 | 140 | 181 |
(Benefit) provision | (210) | 261 | (964) |
Ending balance | 680 | 812 | 411 |
Ending balance: | |||
Loans pooled for evaluation | 680 | 812 | 322 |
Home Equity Loans [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 41,822 | 40,362 | 31,314 |
Individ. evaluated for impairment | 1,150 | 1,731 | 1,279 |
Loans pooled for evaluation | 39,542 | 37,004 | 29,266 |
Beginning balance | 3,138 | 1,797 | 1,208 |
Charge-offs | (219) | (242) | (29) |
Recoveries | 590 | 252 | 34 |
(Benefit) provision | (892) | 1,331 | 584 |
Ending balance | 2,617 | 3,138 | 1,797 |
Ending balance: | |||
Individ. evaluated for impairment | 102 | 294 | 284 |
Loans pooled for evaluation | 2,451 | 2,844 | 1,513 |
Auto Indirect [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 112 | ||
Individ. evaluated for impairment | 18 | ||
Loans pooled for evaluation | 94 | ||
Beginning balance | 9 | 66 | |
Charge-offs | (4) | (3) | |
Recoveries | 42 | 86 | |
(Benefit) provision | (47) | (140) | |
Ending balance | 9 | ||
Ending balance: | |||
Loans pooled for evaluation | 9 | ||
Other Consumer [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 30,766 | 32,429 | 33,074 |
Individ. evaluated for impairment | 154 | 288 | 323 |
Loans pooled for evaluation | 30,547 | 32,077 | 32,677 |
Beginning balance | 688 | 719 | 589 |
Charge-offs | (823) | (972) | (599) |
Recoveries | 449 | 500 | 495 |
(Benefit) provision | 308 | 441 | 234 |
Ending balance | 622 | 688 | 719 |
Ending balance: | |||
Individ. evaluated for impairment | 28 | 74 | 142 |
Loans pooled for evaluation | 594 | 614 | 572 |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 25,044 | 40,204 | 52,897 |
Ending balance: | |||
Loans acquired with deteriorated credit quality | 2,697 | 2,893 | 3,427 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Mortgage Loans on Real Estate [Member] | Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,363 | 2,145 | 4,005 |
Ending balance: | |||
Loans acquired with deteriorated credit quality | 186 | 60 | 197 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Mortgage Loans on Real Estate [Member] | Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 13,460 | 23,060 | 30,917 |
Ending balance: | |||
Loans acquired with deteriorated credit quality | 1,449 | 1,452 | 409 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer [Member] | Home Equity Lines of Credit [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 4,360 | 7,738 | 9,021 |
Ending balance: | |||
Loans acquired with deteriorated credit quality | 17 | 225 | 451 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer and Industrial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 3,991 | 4,849 | 7,435 |
Ending balance: | |||
Loans acquired with deteriorated credit quality | 936 | 1,101 | 1,234 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Construction [Member] | Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | 675 |
Ending balance: | |||
Loans acquired with deteriorated credit quality | 45 | 55 | 1,042 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Construction [Member] | Commercial [Member] | |||
Ending balance: | |||
Loans acquired with deteriorated credit quality | 89 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | Home Equity Loans [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,130 | 1,627 | 770 |
Ending balance: | |||
Loans acquired with deteriorated credit quality | 64 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | Other Consumer [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | $ 65 | $ 64 | 74 |
Ending balance: | |||
Loans acquired with deteriorated credit quality | $ 5 |
Allowance for Loan Losses - Pre
Allowance for Loan Losses - Presentation of Credit Quality Indicators (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | $ 2,759,593 | $ 2,522,937 | $ 2,282,524 |
Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,356,327 | 1,988,745 | |
PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 378,222 | 493,988 | |
PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 25,044 | 40,204 | |
Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,305,293 | 1,918,006 | |
Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 360,043 | 472,952 | |
Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 27,571 | 17,646 | |
Special Mention [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 8,549 | 11,994 | |
Substandard [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 23,463 | 53,093 | |
Substandard [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 9,630 | 9,042 | |
Mortgage Loans on Real Estate [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,057,824 | 1,811,832 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 309,907 | 314,265 | 279,420 |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 229,609 | 207,585 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 78,935 | 104,535 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,363 | 2,145 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 224,988 | 199,837 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 75,600 | 102,895 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,225 | 2,018 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Special Mention [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,849 | 600 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Substandard [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,396 | 5,730 | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Substandard [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,486 | 1,040 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,747,917 | 1,497,567 | 1,335,939 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,484,420 | 1,163,643 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 250,037 | 310,864 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 13,460 | 23,060 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,457,128 | 1,118,868 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 236,740 | 293,935 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 15,108 | 10,321 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Special Mention [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 6,057 | 10,795 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Substandard [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 12,184 | 34,454 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Substandard [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 7,240 | 6,134 | |
Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 362,303 | 395,283 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 289,715 | 322,492 | 352,584 |
Consumer [Member] | Home Equity Lines of Credit [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 263,590 | 285,419 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 21,765 | 29,335 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 4,360 | 7,738 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 258,024 | 275,251 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 20,442 | 27,378 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,518 | 2,494 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | Special Mention [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 509 | 445 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | Substandard [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 3,048 | 7,674 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | Substandard [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 814 | 1,512 | |
Consumer [Member] | Home Equity Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 41,822 | 40,362 | 31,314 |
Consumer [Member] | Home Equity Loans [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 37,074 | 34,717 | |
Consumer [Member] | Home Equity Loans [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 3,618 | 4,018 | |
Consumer [Member] | Home Equity Loans [Member] | PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,130 | 1,627 | |
Consumer [Member] | Home Equity Loans [Member] | Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 34,299 | 31,427 | |
Consumer [Member] | Home Equity Loans [Member] | Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 3,492 | 3,789 | |
Consumer [Member] | Home Equity Loans [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 891 | 1,027 | |
Consumer [Member] | Home Equity Loans [Member] | Special Mention [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 41 | 80 | |
Consumer [Member] | Home Equity Loans [Member] | Substandard [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1,884 | 2,263 | |
Consumer [Member] | Home Equity Loans [Member] | Substandard [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 85 | 149 | |
Consumer [Member] | Other Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 30,766 | 32,429 | 33,074 |
Consumer [Member] | Other Consumer [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 28,167 | 28,998 | |
Consumer [Member] | Other Consumer [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,534 | 3,367 | |
Consumer [Member] | Other Consumer [Member] | PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 65 | 64 | |
Consumer [Member] | Other Consumer [Member] | Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 27,542 | 28,339 | |
Consumer [Member] | Other Consumer [Member] | Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 2,437 | 3,164 | |
Consumer [Member] | Other Consumer [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 385 | 415 | |
Consumer [Member] | Other Consumer [Member] | Special Mention [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 92 | 74 | |
Consumer [Member] | Other Consumer [Member] | Substandard [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 240 | 244 | |
Consumer [Member] | Other Consumer [Member] | Substandard [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 5 | 129 | |
Consumer and Industrial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 217,047 | 194,913 | 174,945 |
Consumer and Industrial [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 200,735 | 170,320 | |
Consumer and Industrial [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 12,321 | 19,744 | |
Consumer and Industrial [Member] | PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 3,991 | 4,849 | |
Consumer and Industrial [Member] | Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 190,902 | 166,559 | |
Consumer and Industrial [Member] | Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 12,320 | 19,666 | |
Consumer and Industrial [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 6,133 | 1,037 | |
Consumer and Industrial [Member] | Special Mention [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 1 | ||
Consumer and Industrial [Member] | Substandard [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 3,700 | 2,724 | |
Consumer and Industrial [Member] | Substandard [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 78 | ||
Construction [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 122,419 | 120,909 | |
Construction [Member] | Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 55,429 | 46,135 | 38,618 |
Construction [Member] | Residential [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 54,613 | 31,778 | |
Construction [Member] | Residential [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 141 | 13,636 | |
Construction [Member] | Residential [Member] | PCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 675 | 721 | |
Construction [Member] | Residential [Member] | Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 54,602 | 31,440 | |
Construction [Member] | Residential [Member] | Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 141 | 13,636 | |
Construction [Member] | Residential [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 334 | ||
Construction [Member] | Residential [Member] | Substandard [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 11 | 4 | |
Construction [Member] | Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 66,990 | 74,774 | $ 36,518 |
Construction [Member] | Commercial [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 58,119 | 66,285 | |
Construction [Member] | Commercial [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 8,871 | 8,489 | |
Construction [Member] | Commercial [Member] | Pass [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 57,808 | 66,285 | |
Construction [Member] | Commercial [Member] | Pass [Member] | PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | 8,871 | $ 8,489 | |
Construction [Member] | Commercial [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans, net of unamortized deferred loan fees and discounts | $ 311 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($)Category | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Loans and Leases Receivable Disclosure [Line Items] | |||
Number of categories occupied under commercial real estate loans | Category | 2 | ||
Originated Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Impaired TDRs Loans | $ 12,371,000 | $ 29,269,000 | $ 45,676,000 |
Additional funds in TDRs | 25,000 | 35,000 | 54,000 |
PNCI Loans [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Impaired TDRs Loans | 1,324,000 | 1,396,000 | 1,307,000 |
Obligations to lend additional funds on TDRs | $ 0 | $ 0 | $ 0 |
Minimum [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Period of collateral payment of loan | 3 months | ||
Maximum [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Period of collateral payment of loan | 12 months |
Allowance for Loan Losses - Ana
Allowance for Loan Losses - Analysis of Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 8,687 | $ 10,172 |
Current | 2,347,640 | 1,978,573 |
Total orig. loans | 2,356,327 | 1,988,745 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 12,894 | 22,824 |
PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 2,600 | 8,924 |
Current | 375,622 | 485,064 |
Total orig. loans | 378,222 | 493,988 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 2,834 | 5,398 |
30-59 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 4,354 | 4,635 |
30-59 Days [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,896 | 7,259 |
60-89 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 2,586 | 1,196 |
60-89 Days [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 13 | |
> 90 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,747 | 4,341 |
> 90 Days [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 704 | 1,652 |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 691 | 1,062 |
Current | 228,918 | 206,523 |
Total orig. loans | 229,609 | 207,585 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 255 | 3,045 |
Mortgage Loans on Real Estate [Member] | Residential [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,531 | 3,164 |
Current | 77,404 | 101,371 |
Total orig. loans | 78,935 | 104,535 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 194 | 348 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 2,050 | 4,116 |
Current | 1,482,370 | 1,159,527 |
Total orig. loans | 1,484,420 | 1,163,643 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 7,736 | 14,196 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 154 | 4,785 |
Current | 249,883 | 306,079 |
Total orig. loans | 250,037 | 310,864 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 1,826 | 3,742 |
Mortgage Loans on Real Estate [Member] | 30-59 Days [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 552 | 791 |
Mortgage Loans on Real Estate [Member] | 30-59 Days [Member] | Residential [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,510 | 3,106 |
Mortgage Loans on Real Estate [Member] | 30-59 Days [Member] | Commercial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 317 | 200 |
Mortgage Loans on Real Estate [Member] | 30-59 Days [Member] | Commercial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 73 | 4,037 |
Mortgage Loans on Real Estate [Member] | 60-89 Days [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 139 | |
Mortgage Loans on Real Estate [Member] | 60-89 Days [Member] | Commercial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,517 | 491 |
Mortgage Loans on Real Estate [Member] | > 90 Days [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 271 | |
Mortgage Loans on Real Estate [Member] | > 90 Days [Member] | Residential [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 21 | 58 |
Mortgage Loans on Real Estate [Member] | > 90 Days [Member] | Commercial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 216 | 3,425 |
Mortgage Loans on Real Estate [Member] | > 90 Days [Member] | Commercial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 81 | 748 |
Consumer [Member] | Home Equity Lines of Credit [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,441 | 1,877 |
Current | 262,149 | 283,542 |
Total orig. loans | 263,590 | 285,419 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 1,211 | 3,379 |
Consumer [Member] | Home Equity Lines of Credit [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 863 | 367 |
Current | 20,902 | 28,968 |
Total orig. loans | 21,765 | 29,335 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 742 | 676 |
Consumer [Member] | 30-59 Days [Member] | Home Equity Lines of Credit [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 754 | 1,033 |
Consumer [Member] | 30-59 Days [Member] | Home Equity Lines of Credit [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 274 | 92 |
Consumer [Member] | 60-89 Days [Member] | Home Equity Lines of Credit [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 324 | |
Consumer [Member] | > 90 Days [Member] | Home Equity Lines of Credit [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 687 | 520 |
Consumer [Member] | > 90 Days [Member] | Home Equity Lines of Credit [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 589 | 275 |
Consumer [Member] | Home Equity Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,225 | 825 |
Current | 35,849 | 33,892 |
Total orig. loans | 37,074 | 34,717 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 718 | 1,195 |
Consumer [Member] | Home Equity Loans [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 52 | 94 |
Current | 3,566 | 3,924 |
Total orig. loans | 3,618 | 4,018 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 67 | 109 |
Consumer [Member] | Home Equity Loans [Member] | 30-59 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 646 | 402 |
Consumer [Member] | Home Equity Loans [Member] | 30-59 Days [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 39 | 23 |
Consumer [Member] | Home Equity Loans [Member] | 60-89 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 395 | 341 |
Consumer [Member] | Home Equity Loans [Member] | > 90 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 184 | 82 |
Consumer [Member] | Home Equity Loans [Member] | > 90 Days [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 13 | 71 |
Consumer [Member] | Auto Indirect [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
> 90 Days and still accruing | 0 | 0 |
Consumer [Member] | Auto Indirect [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
> 90 Days and still accruing | 0 | 0 |
Consumer [Member] | Other Consumer [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 61 | 71 |
Current | 28,106 | 28,927 |
Total orig. loans | 28,167 | 28,998 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 33 | 21 |
Consumer [Member] | Other Consumer [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 23 | |
Current | 2,534 | 3,344 |
Total orig. loans | 2,534 | 3,367 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 5 | 33 |
Consumer [Member] | Other Consumer [Member] | 30-59 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 16 | 12 |
Consumer [Member] | Other Consumer [Member] | 60-89 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 30 | 40 |
Consumer [Member] | Other Consumer [Member] | 60-89 Days [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 13 | |
Consumer [Member] | Other Consumer [Member] | > 90 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 15 | 19 |
Consumer [Member] | Other Consumer [Member] | > 90 Days [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 10 | |
Consumer and Industrial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,866 | 2,221 |
Current | 198,869 | 168,099 |
Total orig. loans | 200,735 | 170,320 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 2,930 | 976 |
Consumer and Industrial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1 | |
Current | 12,321 | 19,743 |
Total orig. loans | 12,321 | 19,744 |
> 90 Days and still accruing | 0 | 0 |
Consumer and Industrial [Member] | 30-59 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,148 | 2,197 |
Consumer and Industrial [Member] | 30-59 Days [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1 | |
Consumer and Industrial [Member] | 60-89 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 84 | |
Consumer and Industrial [Member] | > 90 Days [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 634 | 24 |
Construction [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 932 | |
Current | 53,681 | |
Total orig. loans | 54,613 | 31,778 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 11 | 12 |
Construction [Member] | Residential [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 141 | 13,636 |
Total orig. loans | 141 | 13,636 |
> 90 Days and still accruing | 0 | 0 |
Construction [Member] | Commercial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 421 | |
Current | 57,698 | |
Total orig. loans | 58,119 | 66,285 |
> 90 Days and still accruing | 0 | 0 |
Construction [Member] | Commercial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 490 | |
Current | 8,871 | 7,999 |
Total orig. loans | 8,871 | 8,489 |
> 90 Days and still accruing | 0 | 0 |
Nonaccrual loans | 490 | |
Construction [Member] | 30-59 Days [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 921 | |
Construction [Member] | 60-89 Days [Member] | Commercial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 421 | |
Construction [Member] | > 90 Days [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 11 | |
Construction [Member] | > 90 Days [Member] | Commercial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 490 |
Allowance for Loan Losses - Imp
Allowance for Loan Losses - Impaired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | $ 17,701 | $ 35,505 |
Unpaid principal, With no related allowance recorded | 18,641 | 43,892 |
Average recorded Investment, With no related allowance recorded | 26,601 | 41,984 |
Interest income Recognized, With no related allowance recorded | 757 | 1,031 |
Recorded investment, With an allowance recorded | 6,285 | 7,917 |
Unpaid principal, With an allowance recorded | 6,349 | 8,249 |
Related allowance, With an allowance recorded | 1,544 | 2,450 |
Average recorded Investment, With an allowance recorded | 7,100 | 9,469 |
Interest income Recognized, With an allowance recorded | 206 | 302 |
PNCI Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 3,094 | 3,056 |
Unpaid principal, With no related allowance recorded | 3,341 | 3,277 |
Average recorded Investment, With no related allowance recorded | 3,075 | 2,090 |
Interest income Recognized, With no related allowance recorded | 17 | 87 |
Recorded investment, With an allowance recorded | 1,060 | 3,627 |
Unpaid principal, With an allowance recorded | 1,060 | 3,744 |
Related allowance, With an allowance recorded | 502 | 440 |
Average recorded Investment, With an allowance recorded | 2,344 | 2,631 |
Interest income Recognized, With an allowance recorded | 49 | 174 |
Mortgage Loans on Real Estate [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 1,691 | 3,886 |
Unpaid principal, With no related allowance recorded | 1,699 | 5,998 |
Average recorded Investment, With no related allowance recorded | 2,788 | 3,586 |
Interest income Recognized, With no related allowance recorded | 83 | 81 |
Recorded investment, With an allowance recorded | 1,372 | 2,006 |
Unpaid principal, With an allowance recorded | 1,372 | 2,073 |
Related allowance, With an allowance recorded | 170 | 335 |
Average recorded Investment, With an allowance recorded | 1,689 | 2,365 |
Interest income Recognized, With an allowance recorded | 56 | 49 |
Mortgage Loans on Real Estate [Member] | Residential [Member] | PNCI Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 463 | 875 |
Unpaid principal, With no related allowance recorded | 486 | 908 |
Average recorded Investment, With no related allowance recorded | 669 | 609 |
Interest income Recognized, With no related allowance recorded | 7 | 31 |
Recorded investment, With an allowance recorded | 259 | |
Unpaid principal, With an allowance recorded | 259 | |
Related allowance, With an allowance recorded | 79 | |
Average recorded Investment, With an allowance recorded | 130 | 417 |
Interest income Recognized, With an allowance recorded | 10 | |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 13,144 | 27,109 |
Unpaid principal, With no related allowance recorded | 13,488 | 29,678 |
Average recorded Investment, With no related allowance recorded | 20,126 | 32,793 |
Interest income Recognized, With no related allowance recorded | 581 | 893 |
Recorded investment, With an allowance recorded | 646 | 1,418 |
Unpaid principal, With an allowance recorded | 646 | 1,453 |
Related allowance, With an allowance recorded | 19 | 146 |
Average recorded Investment, With an allowance recorded | 1,032 | 2,180 |
Interest income Recognized, With an allowance recorded | 37 | 74 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 1,826 | 1,132 |
Unpaid principal, With no related allowance recorded | 2,031 | 1,248 |
Average recorded Investment, With no related allowance recorded | 1,479 | 749 |
Interest income Recognized, With no related allowance recorded | 32 | |
Recorded investment, With an allowance recorded | 132 | 2,748 |
Unpaid principal, With an allowance recorded | 132 | 2,858 |
Related allowance, With an allowance recorded | 108 | 248 |
Average recorded Investment, With an allowance recorded | 1,440 | 1,447 |
Interest income Recognized, With an allowance recorded | 7 | 149 |
Consumer [Member] | Home Equity Lines of Credit [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 1,480 | 2,963 |
Unpaid principal, With no related allowance recorded | 1,561 | 6,079 |
Average recorded Investment, With no related allowance recorded | 2,221 | 2,982 |
Interest income Recognized, With no related allowance recorded | 40 | 23 |
Recorded investment, With an allowance recorded | 430 | 1,724 |
Unpaid principal, With an allowance recorded | 440 | 1,904 |
Related allowance, With an allowance recorded | 110 | 525 |
Average recorded Investment, With an allowance recorded | 1,077 | 2,455 |
Interest income Recognized, With an allowance recorded | 9 | 31 |
Consumer [Member] | Home Equity Lines of Credit [Member] | PNCI Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 735 | 454 |
Unpaid principal, With no related allowance recorded | 746 | 505 |
Average recorded Investment, With no related allowance recorded | 594 | 400 |
Interest income Recognized, With no related allowance recorded | 9 | 3 |
Recorded investment, With an allowance recorded | 551 | 606 |
Unpaid principal, With an allowance recorded | 551 | 612 |
Related allowance, With an allowance recorded | 300 | 80 |
Average recorded Investment, With an allowance recorded | 579 | 521 |
Interest income Recognized, With an allowance recorded | 27 | 14 |
Consumer [Member] | Home Equity Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 598 | 947 |
Unpaid principal, With no related allowance recorded | 922 | 1,349 |
Average recorded Investment, With no related allowance recorded | 773 | 848 |
Interest income Recognized, With no related allowance recorded | 4 | 5 |
Recorded investment, With an allowance recorded | 485 | 674 |
Unpaid principal, With an allowance recorded | 487 | 701 |
Related allowance, With an allowance recorded | 102 | 256 |
Average recorded Investment, With an allowance recorded | 579 | 589 |
Interest income Recognized, With an allowance recorded | 25 | 26 |
Consumer [Member] | Home Equity Loans [Member] | PNCI Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 67 | 71 |
Unpaid principal, With no related allowance recorded | 74 | 73 |
Average recorded Investment, With no related allowance recorded | 69 | 48 |
Interest income Recognized, With no related allowance recorded | 1 | 2 |
Recorded investment, With an allowance recorded | 39 | |
Unpaid principal, With an allowance recorded | 40 | |
Related allowance, With an allowance recorded | 39 | |
Average recorded Investment, With an allowance recorded | 19 | 19 |
Consumer [Member] | Auto Indirect [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded Investment, With no related allowance recorded | 1 | |
Consumer [Member] | Other Consumer [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 15 | 20 |
Unpaid principal, With no related allowance recorded | 29 | 35 |
Average recorded Investment, With no related allowance recorded | 16 | 29 |
Interest income Recognized, With no related allowance recorded | 1 | |
Recorded investment, With an allowance recorded | 18 | 1 |
Unpaid principal, With an allowance recorded | 19 | 1 |
Related allowance, With an allowance recorded | 13 | 1 |
Average recorded Investment, With an allowance recorded | 9 | 23 |
Interest income Recognized, With an allowance recorded | 2 | |
Consumer [Member] | Other Consumer [Member] | PNCI Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 3 | 33 |
Unpaid principal, With no related allowance recorded | 4 | 52 |
Average recorded Investment, With no related allowance recorded | 18 | 35 |
Interest income Recognized, With no related allowance recorded | 1 | |
Recorded investment, With an allowance recorded | 118 | 234 |
Unpaid principal, With an allowance recorded | 118 | 234 |
Related allowance, With an allowance recorded | 15 | 73 |
Average recorded Investment, With an allowance recorded | 176 | 227 |
Interest income Recognized, With an allowance recorded | 5 | 11 |
Consumer and Industrial [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 762 | 576 |
Unpaid principal, With no related allowance recorded | 926 | 688 |
Average recorded Investment, With no related allowance recorded | 669 | 494 |
Interest income Recognized, With no related allowance recorded | 48 | 29 |
Recorded investment, With an allowance recorded | 3,334 | 2,094 |
Unpaid principal, With an allowance recorded | 3,385 | 2,117 |
Related allowance, With an allowance recorded | 1,130 | 1,187 |
Average recorded Investment, With an allowance recorded | 2,714 | 1,716 |
Interest income Recognized, With an allowance recorded | 77 | 122 |
Consumer and Industrial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 1 | |
Unpaid principal, With no related allowance recorded | 1 | |
Average recorded Investment, With no related allowance recorded | 1 | 4 |
Construction [Member] | Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 11 | 4 |
Unpaid principal, With no related allowance recorded | 16 | 65 |
Average recorded Investment, With no related allowance recorded | 7 | 1,202 |
Average recorded Investment, With an allowance recorded | 141 | |
Construction [Member] | Commercial [Member] | Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded Investment, With no related allowance recorded | 50 | |
Construction [Member] | Commercial [Member] | PNCI Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded investment, With no related allowance recorded | 490 | |
Unpaid principal, With no related allowance recorded | 490 | |
Average recorded Investment, With no related allowance recorded | $ 245 | 245 |
Interest income Recognized, With no related allowance recorded | $ 18 |
Allowance for Loan Losses - Tro
Allowance for Loan Losses - Troubled Debt Restructurings (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($)SecurityLoan | Dec. 31, 2015USD ($)SecurityLoan | |
Financing Receivable, Modifications [Line Items] | ||
Number | SecurityLoan | 24 | 23 |
Pre-mod outstanding principal balance | $ 1,989 | $ 3,979 |
Post-mod outstanding principal balance | 2,035 | 3,973 |
Financial impact due to TDR taken as additional provision | $ 326 | $ 451 |
Number that defaulted during the period | SecurityLoan | 3 | 10 |
Recorded investment of TDRs that defaulted during the period | $ 330 | $ 736 |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ (9) | |
Mortgage Loans on Real Estate [Member] | Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | SecurityLoan | 3 | 4 |
Pre-mod outstanding principal balance | $ 650 | $ 800 |
Post-mod outstanding principal balance | 656 | 801 |
Financial impact due to TDR taken as additional provision | $ 50 | $ 8 |
Number that defaulted during the period | SecurityLoan | 2 | 4 |
Recorded investment of TDRs that defaulted during the period | $ 101 | $ 221 |
Mortgage Loans on Real Estate [Member] | Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | SecurityLoan | 5 | 5 |
Pre-mod outstanding principal balance | $ 423 | $ 1,518 |
Post-mod outstanding principal balance | 461 | 1,517 |
Financial impact due to TDR taken as additional provision | $ 46 | $ (5) |
Number that defaulted during the period | SecurityLoan | 2 | |
Recorded investment of TDRs that defaulted during the period | $ 280 | |
Consumer [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | SecurityLoan | 9 | 2 |
Pre-mod outstanding principal balance | $ 707 | $ 301 |
Post-mod outstanding principal balance | 709 | $ 301 |
Financial impact due to TDR taken as additional provision | $ 205 | |
Number that defaulted during the period | SecurityLoan | 1 | 3 |
Recorded investment of TDRs that defaulted during the period | $ 229 | $ 182 |
Consumer [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | SecurityLoan | 1 | 2 |
Pre-mod outstanding principal balance | $ 105 | $ 315 |
Post-mod outstanding principal balance | $ 105 | 321 |
Financial impact due to TDR taken as additional provision | $ 38 | |
Number that defaulted during the period | SecurityLoan | 1 | |
Recorded investment of TDRs that defaulted during the period | $ 53 | |
Financial impact due to the default of previous TDR taken as charge-offs or additional provisions | $ (9) | |
Consumer [Member] | Other Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | SecurityLoan | 2 | 2 |
Pre-mod outstanding principal balance | $ 27 | $ 89 |
Post-mod outstanding principal balance | 27 | 89 |
Financial impact due to TDR taken as additional provision | $ 2 | $ 5 |
Consumer and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number | SecurityLoan | 4 | 8 |
Pre-mod outstanding principal balance | $ 77 | $ 956 |
Post-mod outstanding principal balance | 77 | 944 |
Financial impact due to TDR taken as additional provision | $ 23 | $ 405 |
Foreclosed Assets - Summary of
Foreclosed Assets - Summary of Activity in Balance of Foreclosed Assets (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)Assets | Dec. 31, 2015USD ($)Assets | Dec. 31, 2014USD ($) | |
Schedule Of Foreclosed Assets Activity [Line Items] | |||
Beginning balance, net | $ 5,369 | $ 4,894 | |
Additions/transfers from loans | 2,505 | 5,435 | |
Dispositions/sales | (3,748) | (4,458) | |
Valuation adjustments | (140) | (502) | |
Ending balance, net | 3,986 | 5,369 | $ 4,894 |
Ending valuation allowance | $ (314) | $ (572) | |
Ending number of foreclosed assets | Assets | 15 | 26 | |
Proceeds from sale of foreclosed assets | $ 4,010 | $ 5,449 | |
Gain on sale of foreclosed assets | 262 | 991 | 2,153 |
Noncovered [Member] | |||
Schedule Of Foreclosed Assets Activity [Line Items] | |||
Beginning balance, net | 5,369 | 4,449 | |
Additions/transfers from loans | 2,282 | 5,880 | |
Dispositions/sales | (3,748) | (4,458) | |
Valuation adjustments | (140) | (502) | |
Ending balance, net | 3,763 | 5,369 | 4,449 |
Ending valuation allowance | $ (314) | $ (572) | |
Ending number of foreclosed assets | Assets | 14 | 26 | |
Proceeds from sale of foreclosed assets | $ 4,010 | $ 5,449 | |
Gain on sale of foreclosed assets | 262 | 991 | |
Covered [Member] | |||
Schedule Of Foreclosed Assets Activity [Line Items] | |||
Beginning balance, net | 445 | ||
Additions/transfers from loans | 223 | $ (445) | |
Ending balance, net | $ 223 | $ 445 | |
Ending number of foreclosed assets | Assets | 1 |
Foreclosed Assets - Additional
Foreclosed Assets - Additional Information (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule Of Foreclosed Assets Activity [Line Items] | |||
Foreclosed assets | $ 3,986,000 | $ 5,369,000 | $ 4,894,000 |
Residential Real Estate [Member] | |||
Schedule Of Foreclosed Assets Activity [Line Items] | |||
Foreclosed assets | 1,750,000 | ||
Formal foreclosure proceedings | $ 301,000 |
Premises and Equipment - Summar
Premises and Equipment - Summary of Premises and Equipment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment, Net, by Type [Abstract] | ||
Land & land improvements | $ 9,522 | $ 8,909 |
Buildings | 42,345 | 38,643 |
Furniture and equipment | 31,428 | 31,081 |
Premises and equipment, gross | 83,295 | 78,633 |
Less: Accumulated depreciation | (37,412) | (35,518) |
Premises and equipment less depreciation, gross | 45,883 | 43,115 |
Construction in progress | 2,523 | 696 |
Total premises and equipment | $ 48,406 | $ 43,811 |
Premises and Equipment - Additi
Premises and Equipment - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense for premises and equipment | $ 5,314,000 | $ 5,043,000 | $ 4,648,000 |
Cash Value of Life Insurance -
Cash Value of Life Insurance - Summary of Activity in Balance of Cash Value of Life Insurance (Detail) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($)PoliciesEmployeesCompany | Dec. 31, 2015USD ($)PoliciesEmployeesCompany | Dec. 31, 2014USD ($) | |
Increase (Decrease) in Insurance Liabilities [Abstract] | |||
Beginning balance | $ 94,560 | $ 92,337 | |
Increase in cash value of life insurance | 2,717 | 2,786 | $ 1,953 |
Death benefit receivable in excess of cash value | 238 | 155 | |
Death benefit receivable | (1,603) | (718) | |
Ending balance | 95,912 | 94,560 | $ 92,337 |
End of period death benefit | $ 165,669 | $ 166,299 | |
Number of policies owned | Policies | 185 | 187 | |
Insurance companies used | Company | 14 | 14 | |
Current and former employees and directors covered | Employees | 58 | 59 |
Cash Value of Life Insurance 89
Cash Value of Life Insurance - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2016PoliciesCompany | Dec. 31, 2015Company | |
Insurance [Abstract] | ||
Number of life insurance policies owned by the Company | 185 | |
Insurance companies used | Company | 14 | 14 |
Policies covering current and former employees and directors | 58 |
Goodwill and Other Intangible90
Goodwill and Other Intangible Assets - Summary of Goodwill Intangible (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill, Ending Balance | $ 64,311 |
Goodwill, Additions | 849 |
Goodwill, Reductions | 0 |
Goodwill, Beginning Balance | $ 63,462 |
Goodwill and Other Intangible91
Goodwill and Other Intangible Assets - Summary of Core Deposit Intangibles (Detail) - Core Deposit Intangibles [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Finite-Lived Intangible Assets [Line Items] | |
Core deposit intangibles, Beginning balance | $ 8,074 |
Core deposit intangibles, Reductions/Amortization | 0 |
Core deposit intangibles, Additions | 2,046 |
Core deposit intangibles, Ending balance | 10,120 |
Accumulated amortization, Beginning balance | (2,180) |
Accumulated amortization, Reductions/Amortization | (1,377) |
Accumulated amortization, Additions | 0 |
Accumulated amortization, Ending balance | (3,577) |
Core deposit intangibles, net, Beginning balance | 5,894 |
Core deposit intangibles, net, Reductions/Amortization | (1,377) |
Core deposit intangibles, net, Additions | 2,046 |
Core deposit intangibles, net, Ending balance | $ 6,563 |
Goodwill and Other Intangible92
Goodwill and Other Intangible Assets - Additional Information (Detail) | Mar. 18, 2016USD ($)Branches | Oct. 03, 2014USD ($) | Sep. 23, 2011USD ($) | May 28, 2010USD ($) |
North Valley Bancorp [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Additions to core deposit intangibles | $ 6,614,000 | |||
Citizens [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Additions to core deposit intangibles | $ 898,000 | |||
Granite [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Additions to core deposit intangibles | $ 562,000 | |||
Bank of America [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Additions to core deposit intangibles | $ 2,046,000 | |||
Number of branches | Branches | 3 |
Goodwill and Other Intangible93
Goodwill and Other Intangible Assets - Estimated Core Deposit Intangible Amortization (Detail) - Core Deposit Intangibles [Member] $ in Thousands | Dec. 31, 2016USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
2,017 | $ 1,389 |
2,018 | 1,324 |
2,019 | 1,228 |
2,020 | 1,228 |
2,021 | 969 |
Thereafter | $ 425 |
Mortgage Servicing Rights - Fai
Mortgage Servicing Rights - Fair Value of Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Servicing Assets at Fair Value [Line Items] | |||
Contractually specified servicing fees, late fees and ancillary fees earned | $ 2,065 | $ 2,164 | $ 1,869 |
Weighted-average prepayment speed (CPR) | 8.80% | 9.80% | 12.00% |
Weighted-average discount rate | 14.00% | 10.00% | 10.00% |
Mortgage Servicing Rights [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Balance at beginning of period | $ 7,618 | $ 7,378 | $ 6,165 |
Acquisition | 1,944 | ||
Originations | 1,161 | 941 | 570 |
Change in fair value | (2,184) | (701) | (1,301) |
Balance at end of period | 6,595 | 7,618 | 7,378 |
Loans [Member] | |||
Servicing Assets at Fair Value [Line Items] | |||
Balance at beginning of period | 817,917 | 840,288 | 680,197 |
Balance at end of period | $ 816,623 | $ 817,917 | $ 840,288 |
Indemnification Asset - Summary
Indemnification Asset - Summary of Activity in Balance of Indemnification Asset (Liability) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
FDIC Indemnification Asset [Roll Forward] | |||
Beginning balance | $ (521) | $ (349) | $ 206 |
Effect of actual covered losses (recoveries) and increase (decrease) in estimated future covered losses | (412) | (93) | (853) |
Change in estimated "true up" liability | (86) | (71) | (100) |
Reimbursable (revenue) expenses, net | 2 | 4 | 85 |
Payments made (received) | 273 | (12) | 313 |
Ending balance | (744) | (521) | (349) |
Amount of indemnification asset (liability) recorded in other assets | (60) | 77 | (349) |
Amount of indemnification liability recorded in other liabilities | (684) | (598) | |
Ending balance | $ (521) | $ (349) | $ 206 |
Other Assets - Summary of Other
Other Assets - Summary of Other Assets (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||
Deferred tax asset, net | $ 36,199,000 | $ 36,440,000 | |
Prepaid expense | 3,045,000 | 3,062,000 | |
Software | 2,039,000 | 1,290,000 | |
Advanced compensation | 249,000 | 673,000 | |
Capital Trusts | 1,702,000 | 1,696,000 | |
Investment in Low Housing Tax Credit Funds | 18,465,000 | 4,223,000 | $ 0 |
Life insurance proceeds receivable | 2,120,000 | ||
Prepaid Taxes | 6,460,000 | ||
Premises held for sale | 2,896,000 | ||
Miscellaneous other assets | 1,568,000 | 1,207,000 | |
Total other assets | $ 74,743,000 | $ 48,591,000 |
Deposits - Summary of Balances
Deposits - Summary of Balances of Deposits (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deposits [Abstract] | ||
Noninterest-bearing demand | $ 1,275,745 | $ 1,155,695 |
Interest-bearing demand | 887,625 | 853,961 |
Savings | 1,397,036 | 1,281,540 |
Time certificates, over $250,000 | 75,184 | 74,647 |
Other time certificates | 259,970 | 265,423 |
Total deposits | $ 3,895,560 | $ 3,631,266 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule Of Deposits [Line Items] | ||
Overdrawn deposit balances classified as consumer loans | $ 1,191,000 | $ 796,000 |
California [Member] | ||
Schedule Of Deposits [Line Items] | ||
Certificate of deposits, included in time certificates $250,000 and over | $ 50,000,000 | $ 50,000,000 |
Deposits - Schedule of Maturiti
Deposits - Schedule of Maturities of Time Deposits (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Summary of maturities of time deposits [Abstract] | |
2,017 | $ 279,015 |
2,018 | 26,097 |
2,019 | 9,277 |
2,020 | 10,611 |
2,021 | 10,135 |
Thereafter | 19 |
Total | $ 335,154 |
Reserve for Unfunded Commitm100
Reserve for Unfunded Commitments - Summary of Activity in Reserve for Unfunded Commitments (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Balance at beginning of period | $ 2,475 | $ 2,145 | $ 2,415 |
Acquisitions | 125 | ||
Provision for losses - Unfunded commitments | 244 | 330 | (395) |
Balance at end of period | $ 2,719 | $ 2,475 | $ 2,145 |
Other Liabilities - Components
Other Liabilities - Components of Other Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Other Liabilities Disclosure [Abstract] | ||
Deferred compensation | $ 6,525 | $ 6,725 |
Pension liability | 26,645 | 26,182 |
Joint beneficiary agreements | 3,007 | 2,529 |
Low income housing tax credit fund commitments | 15,176 | 3,330 |
Accrued salaries and benefits expense | 5,704 | 3,851 |
Loan escrow and servicing payable | 2,146 | 2,037 |
Deferred revenue | 726 | 1,082 |
Unsettled investment security purchases | 17,072 | |
Litigation contingency | 1,450 | |
Miscellaneous other liabilities | 5,985 | 2,485 |
Total other liabilities | $ 67,364 | $ 65,293 |
Other Borrowings - Summary of B
Other Borrowings - Summary of Balances of Other Borrowings (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Other collateralized borrowings, fixed rate, as of December 31, 2016 of 0.05%, payable on January 2, 2017 | $ 17,493,000 | $ 12,328,000 |
Total other borrowings | 17,493,000 | 12,328,000 |
0.05% Fixed Rate Collateralized Borrowings [Member] | ||
Debt Instrument [Line Items] | ||
Other collateralized borrowings, fixed rate, as of December 31, 2016 of 0.05%, payable on January 2, 2017 | $ 17,493,000 | $ 12,328,000 |
Other Borrowings - Summary o103
Other Borrowings - Summary of Balances of Other Borrowings (Parenthetical) (Detail) - 0.05% Fixed Rate Collateralized Borrowings [Member] | 12 Months Ended |
Dec. 31, 2016 | |
Debt Instrument [Line Items] | |
Other collateralized borrowings, fixed rate | 0.05% |
Other collateralized borrowings, maturity date | Jan. 2, 2017 |
Other Borrowings - Additional I
Other Borrowings - Additional Information (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
Security repurchase agreement | $ 0 | $ 0 |
Other collateralized borrowings | 17,493,000 | $ 12,328,000 |
Repurchase investment securities sold and pledged as collateral under securities repurchase agreement | 37,723,000 | |
FHLB collateral line of credit, maximum borrowings capacity | 1,304,136,000 | |
FHLB collateral line of credit, outstanding balance | 0 | |
FHLB collateral line of credit, remaining borrowing capacity | 1,304,136,000 | |
Loans designated as potential collateral under collateralized line of credit with FHLB | 78,985,000 | |
Investment securities designated as potential collateral under collateral line of credit | 1,884,580,000 | |
Collateralized line of credit with San Francisco Federal Reserve Bank, maximum borrowings capacity | 133,655,000 | |
Collateralized line of credit with San Francisco Federal Reserve Bank, outstanding balance | 0 | |
Collateralized line of credit with San Francisco Federal Reserve Bank, remaining borrowing capacity | 133,655,000 | |
Investment securities designated as potential collateral under collateral line of credit with San Francisco Federal Reserve Bank | 47,000 | |
Loans designated as potential collateral under collateral line of credit with San Francisco Federal Reserve Bank | 228,542,000 | |
Unused correspondent banking lines of credit from commercial banks for federal funds | $ 20,000,000 |
Junior Subordinated Debt - Addi
Junior Subordinated Debt - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($)TrustLocation | Dec. 31, 2015USD ($) | Oct. 03, 2014USD ($) | |
Class of Stock [Line Items] | |||
Number of subsidiary business trusts | Trust | 5 | ||
Trust preferred securities amount | $ 62,900,000 | ||
Subordinated debenture, recorded fair value | $ 56,667,000 | $ 56,470,000 | |
Number of locations organized | Location | 2 | ||
Maximum [Member] | |||
Class of Stock [Line Items] | |||
Consecutive payments of interest on debenture defer Period | 5 years | ||
North Valley Bancorp [Member] | |||
Class of Stock [Line Items] | |||
Number of locations acquired | Location | 3 | ||
Acquisition, completion date | Oct. 3, 2014 | ||
North Valley Trust II [Member] | |||
Class of Stock [Line Items] | |||
Subordinated debenture, recorded fair value | $ 5,095,000 | $ 5,006,000 | |
North Valley Trust III [Member] | |||
Class of Stock [Line Items] | |||
Subordinated debenture, recorded fair value | 4,005,000 | 3,918,000 | |
North Valley Trust IV [Member] | |||
Class of Stock [Line Items] | |||
Subordinated debenture, recorded fair value | $ 6,329,000 | $ 6,063,000 |
Junior Subordinated Debt - Summ
Junior Subordinated Debt - Summary of Terms and Recorded Balance of Subordinated Debenture (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Oct. 03, 2014 | |
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Face Value | $ 62,889,000 | ||
Subordinated debenture, Recorded Book Value | $ 56,667,000 | $ 56,470,000 | |
TriCo Capital Trust I [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Maturity Date | Oct. 7, 2033 | ||
Subordinated debenture, Face Value | $ 20,619,000 | ||
Subordinated debenture, Current Coupon Rate | 3.93% | ||
Subordinated debenture, Recorded Book Value | $ 20,619,000 | ||
TriCo Capital Trust II [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Maturity Date | Jul. 23, 2034 | ||
Subordinated debenture, Face Value | $ 20,619,000 | ||
Subordinated debenture, Current Coupon Rate | 3.43% | ||
Subordinated debenture, Recorded Book Value | $ 20,619,000 | ||
North Valley Trust II [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Maturity Date | Apr. 24, 2033 | ||
Subordinated debenture, Face Value | $ 6,186,000 | ||
Subordinated debenture, Current Coupon Rate | 4.14% | ||
Subordinated debenture, Recorded Book Value | $ 5,095,000 | $ 5,006,000 | |
North Valley Trust III [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Maturity Date | Apr. 24, 2034 | ||
Subordinated debenture, Face Value | $ 5,155,000 | ||
Subordinated debenture, Current Coupon Rate | 3.68% | ||
Subordinated debenture, Recorded Book Value | $ 4,005,000 | 3,918,000 | |
North Valley Trust IV [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Maturity Date | Mar. 15, 2036 | ||
Subordinated debenture, Face Value | $ 10,310,000 | ||
Subordinated debenture, Current Coupon Rate | 2.29% | ||
Subordinated debenture, Recorded Book Value | $ 6,329,000 | $ 6,063,000 | |
LIBOR PLUS [Member] | TriCo Capital Trust I [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Coupon Rate | 3.05% | ||
LIBOR PLUS [Member] | TriCo Capital Trust II [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Coupon Rate | 2.55% | ||
LIBOR PLUS [Member] | North Valley Trust II [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Coupon Rate | 3.25% | ||
LIBOR PLUS [Member] | North Valley Trust III [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Coupon Rate | 2.80% | ||
LIBOR PLUS [Member] | North Valley Trust IV [Member] | |||
Subordinated Borrowing [Line Items] | |||
Subordinated debenture, Coupon Rate | 1.33% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2016USD ($)site$ / sharesshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($) | Aug. 21, 2007shares | |
Conversion of Stock [Line Items] | ||||
Reserves to satisfy Federal regulatory requirements | $ 78,183,000 | $ 70,660,000 | ||
Number of sites leased under non-cancelable operating leases | site | 44 | |||
Rent expense under operating leases | $ 6,082,000 | 6,241,000 | $ 4,786,000 | |
Rent expense offset by rent income | $ 220,000 | $ 217,000 | $ 225,000 | |
Commitment expiration date | One year or less or other termination clauses and may require payment of a fee. | |||
Letters of credit, issue period | One year or less | |||
Overdraft privilege receivable criteria | All holders of such accounts who bring their accounts to a positive balance at least once every thirty days receive the overdraft privilege. | |||
Cost of settlement | $ 1,450,000 | |||
Class B common stock of Visa Inc. | shares | 22,867,802 | 22,775,173 | 15,814,662 | |
Conversion ratio | 1.648265 | |||
Maximum [Member] | ||||
Conversion of Stock [Line Items] | ||||
Settlement amount | $ 1,900,000 | |||
Common Class B [Member] | ||||
Conversion of Stock [Line Items] | ||||
Class B common stock of Visa Inc. | shares | 13,396 | |||
Common Class A [Member] | ||||
Conversion of Stock [Line Items] | ||||
The value of the Class A shares | $ / shares | $ 78.02 | |||
Value of unredeemed Class A equivalent shares | $ 1,723,000 |
Commitments and Contingencie108
Commitments and Contingencies - Future Minimum Commitments under Non-Cancelable Operating Leases with Initial or Remaining Terms of One Year or More (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Leases [Abstract] | |
2,017 | $ 3,320 |
2,018 | 2,523 |
2,019 | 1,924 |
2,020 | 1,325 |
2,021 | 963 |
Thereafter | 1,696 |
Future minimum lease payments | $ 11,751 |
Commitments and Contingencie109
Commitments and Contingencies - Summary of Bank's Commitments and Contingent Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | ||
Construction [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 97,399 | 71,846 |
RE Mortgage [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 42,184 | 42,793 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 12,763 | 8,330 |
Commercial [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 220,836 | 196,399 |
Consumer Loans [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | 406,855 | 394,278 |
Deposit Account Overdraft Privilege [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Commitments to extend credit | $ 98,583 | $ 94,473 |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - USD ($) | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Aug. 21, 2007 | |
Class of Stock [Line Items] | |||||
Repurchase of common stock | 500,000 | ||||
Stock repurchase plan percentage of common stock | 3.20% | ||||
Common stock, shares outstanding | 22,867,802 | 22,775,173 | 15,814,662 | ||
Repurchased shares outstanding | 166,600 | ||||
Market value of common stock | $ 5,988,000 | $ 2,868,000 | $ 2,551,000 | ||
Maximum [Member] | |||||
Class of Stock [Line Items] | |||||
Cash dividend payable by bank | $ 82,615,000 | ||||
Common Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Common stock, shares outstanding | 22,867,802 | 22,775,173 | 22,714,964 | 16,076,662 | |
Company's common stock in lieu of cash to exercise options to purchase shares | 264,800 | 106,355 | 103,268 | ||
Market value of common stock | $ 7,879,000 | $ 2,868,000 | $ 2,551,000 | ||
Tri Counties Bank [Member] | |||||
Class of Stock [Line Items] | |||||
Cash dividends received | $ 16,758,000 | $ 13,304,000 | $ 8,270,000 |
Stock Options and Other Equi111
Stock Options and Other Equity-Based Incentive Instruments - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Outstanding options under the plan | 592,250 | 948,350 |
Options currently not exercisable yet expected to vest | 71,600 | |
Weighted-average remaining contractual term | 1 year 3 months 18 days | |
Pre-tax compensation costs expected to recognize | $ 368,000 | |
Restricted Stock Units (RSUs) [Member] | Service Condition Vesting RSUs [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of units outstanding expected to vest | 68,450 | 46,286 |
Weighted-average remaining contractual term | 1 year 4 months 24 days | |
Pre-tax compensation costs | $ 1,296,000 | |
Number of units released | 20,529 | |
Restricted Stock Units (RSUs) [Member] | Market Plus Service Condition Vesting RSUs [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of units outstanding expected to vest | 47,426 | 32,097 |
Weighted-average remaining contractual term | 1 year 6 months | |
Pre-tax compensation costs | $ 564,000 | |
Minimum [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Maximum aggregate number of shares of TriCo's common stock issued | 650,000 | |
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | Market Plus Service Condition Vesting RSUs [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of units released | 0 | |
Maximum [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Maximum aggregate number of shares of TriCo's common stock issued | 1,650,000 | |
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | Market Plus Service Condition Vesting RSUs [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of units released | 71,139 | |
2009 Plan [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of shares to be reduced pursuant to stock option for computation of available number of shares for issuance | 1 | |
Number of shares to be reduced pursuant to restricted stock award for computation of available number of shares for issuance | 2 | |
Outstanding options under the plan | 481,900 | |
Options available for grant under the plan | 637,262 | |
2009 Plan [Member] | Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of units outstanding expected to vest | 115,876 | |
2001 Plan [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Outstanding options under the plan | 110,350 | |
Share based compensation grant expiry period | 10 years |
Stock Options and Other Equi112
Stock Options and Other Equity-Based Incentive Instruments - Stock Option Activity (Detail) | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, Number of Shares, beginning balance | shares | 948,350 |
Options granted, Number of Shares | shares | 0 |
Options exercised, Number of Shares | shares | (336,900) |
Options forfeited, Number of Shares | shares | (19,200) |
Options outstanding, Number of Shares, ending balance | shares | 592,250 |
Options outstanding, Weighted Average Exercise Price, beginning balance | $ 17.94 |
Options granted, Weighted Average Exercise Price | 0 |
Options exercised, Weighted Average Exercise Price | 19.31 |
Options forfeited, Weighted Average Exercise Price | 19.14 |
Options outstanding, Weighted Average Exercise Price, ending balance | 17.12 |
Minimum [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, Option Price per Share, beginning balance | 12.63 |
Options granted, Option Price per Share | 0 |
Options exercised, Option Price per Share | 14.54 |
Options forfeited, Option Price per Share | 14.76 |
Options outstanding, Option Price per Share, ending balance | 12.63 |
Maximum [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Options outstanding, Option Price per Share, beginning balance | 25.91 |
Options granted, Option Price per Share | 0 |
Options exercised, Option Price per Share | 25.91 |
Options forfeited, Option Price per Share | 23.21 |
Options outstanding, Option Price per Share, ending balance | $ 23.21 |
Stock Options and Other Equi113
Stock Options and Other Equity-Based Incentive Instruments - Summary of Options Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of options | 592,250 | 948,350 |
Weighted average exercise price | $ 17.12 | $ 17.94 |
Intrinsic value (in thousands) | $ 10,103 | |
Weighted average remaining contractual term (yrs.) | 4 years 3 months 18 days | |
Currently Exercisable [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of options | 520,650 | |
Weighted average exercise price | $ 16.91 | |
Intrinsic value (in thousands) | $ 8,991 | |
Weighted average remaining contractual term (yrs.) | 4 years 1 month 6 days | |
Currently Not Exercisable [Member] | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||
Number of options | 71,600 | |
Weighted average exercise price | $ 18.64 | |
Intrinsic value (in thousands) | $ 1,112 | |
Weighted average remaining contractual term (yrs.) | 6 years 3 months 18 days |
Stock Options and Other Equi114
Stock Options and Other Equity-Based Incentive Instruments - Information about Options (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Information about Options | |||
Intrinsic value of options exercised | $ 3,483,000 | $ 969,000 | $ 1,209,000 |
Fair value of options that vested | 580,000 | 734,000 | 965,000 |
Total compensation costs for options recognized in income | 580,000 | 734,000 | 965,000 |
Total tax benefit recognized in income related to compensation costs for options | $ 244,000 | $ 380,000 | $ 378,000 |
Weighted average fair value of grants (per option) | $ 8.17 |
Stock Options and Other Equi115
Stock Options and Other Equity-Based Incentive Instruments - Weighted-Average Assumptions Used to Determine Fair Value of Options Granted (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Assumptions used to value option grants: | |||
Average expected terms (years) | 0 years | 0 years | 6 years 3 months 18 days |
Volatility | 42.10% | ||
Annual rate of dividends | 1.90% | ||
Discount rate | 1.69% |
Stock Options and Other Equi116
Stock Options and Other Equity-Based Incentive Instruments - Restricted Stock Unit (RSU) Activity (Detail) - Restricted Stock Units (RSUs) [Member] | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Market Plus Service Condition Vesting RSUs [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
RSUs outstanding, Number of RSUs, beginning balance | 32,097 |
RSUs granted, Number of RSUs | 19,402 |
RSUs forfeited/expired, Number of RSUs | (4,073) |
RSUs outstanding, Number of RSUs, ending balance | 47,426 |
RSUs granted, Weighted Average Fair Value on Date of Grant | $ / shares | $ 24.41 |
Service Condition Vesting RSUs [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
RSUs outstanding, Number of RSUs, beginning balance | 46,286 |
RSUs granted, Number of RSUs | 47,020 |
RSUs added through dividend credits, Number of RSUs | 1,292 |
RSUs released, Number of RSUs | (20,529) |
RSUs forfeited/expired, Number of RSUs | (5,619) |
RSUs outstanding, Number of RSUs, ending balance | 68,450 |
RSUs granted, Weighted Average Fair Value on Date of Grant | $ / shares | $ 28.01 |
Stock Options and Other Equi117
Stock Options and Other Equity-Based Incentive Instruments - Summary of Compensation Costs for RSUs (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Service Condition Vesting RSUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total compensation costs for RSUs recognized in income | $ 616,000 | $ 458,000 | $ 126,000 |
Market Plus Service Condition Vesting RSUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total compensation costs for RSUs recognized in income | $ 271,000 | $ 179,000 | $ 42,000 |
Noninterest Income and Expen118
Noninterest Income and Expense - Components of Other Noninterest Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||||||||||
Service charges on deposit accounts | $ 14,365 | $ 14,276 | $ 11,811 | ||||||||
ATM and interchange fees | 15,859 | 13,364 | 9,651 | ||||||||
Other service fees | 3,121 | 2,977 | 2,206 | ||||||||
Mortgage banking service fees | 2,065 | 2,164 | 1,869 | ||||||||
Change in value of mortgage servicing rights | (2,184) | (701) | (1,301) | ||||||||
Total service charges and fees | 33,226 | 32,080 | 24,236 | ||||||||
Gain on sale of loans | 4,037 | 3,064 | 2,032 | ||||||||
Commissions on sale of non-deposit investment products | 2,329 | 3,349 | 2,995 | ||||||||
Increase in cash value of life insurance | 2,717 | 2,786 | 1,953 | ||||||||
Change in indemnification asset | (493) | (207) | (856) | ||||||||
Gain on sale of foreclosed assets | 262 | 991 | 2,153 | ||||||||
Sale of customer checks | 408 | 492 | 450 | ||||||||
Lease brokerage income | 711 | 712 | 504 | ||||||||
Gain (loss) on disposal of fixed assets | (147) | (129) | 49 | ||||||||
Gain on life insurance death benefit | 238 | 155 | |||||||||
Other | 1,275 | 2,054 | 1,000 | ||||||||
Total other noninterest income | 11,337 | 13,267 | 10,280 | ||||||||
Total noninterest income | $ 12,462 | $ 11,066 | $ 11,245 | $ 9,790 | $ 11,445 | $ 11,642 | $ 12,080 | $ 10,180 | $ 44,563 | $ 45,347 | $ 34,516 |
Noninterest Income and Expen119
Noninterest Income and Expense - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||
Mortgage loan servicing fees, net of change in fair value of mortgage loan servicing rights | $ (119,000) | $ 1,463,000 | $ 568,000 |
Noninterest Income and Expen120
Noninterest Income and Expense - Components of Noninterest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule Of Other Noninterest Income And Expense [Line Items] | |||||||||||
Base salaries, net of deferred loan origination costs | $ 53,169 | $ 46,822 | $ 39,342 | ||||||||
Incentive compensation | 8,872 | 6,964 | 5,068 | ||||||||
Benefits and other compensation costs | 18,683 | 17,619 | 13,134 | ||||||||
Total salaries and benefits expense | 80,724 | 71,405 | 57,544 | ||||||||
Occupancy | 10,139 | 10,126 | 8,203 | ||||||||
Equipment | 6,597 | 5,997 | 4,514 | ||||||||
Data processing and software | 8,846 | 7,670 | 6,512 | ||||||||
Assessments | 2,105 | 2,572 | 2,107 | ||||||||
ATM & POS network charges | 4,999 | 4,190 | 2,996 | ||||||||
Advertising | 3,829 | 3,992 | 2,413 | ||||||||
Professional fees | 5,409 | 4,545 | 3,888 | ||||||||
Telecommunications | 2,749 | 3,007 | 2,870 | ||||||||
Postage | 1,603 | 1,296 | 949 | ||||||||
Courier service | 998 | 1,154 | 1,055 | ||||||||
Foreclosed assets expense | 266 | 490 | 528 | ||||||||
Intangible amortization | 1,377 | 1,157 | 446 | ||||||||
Operational losses | 1,564 | 737 | 764 | ||||||||
Provision for foreclosed asset losses | 140 | 502 | 208 | ||||||||
Reserve for unfunded commitments | 244 | 330 | (395) | ||||||||
Legal settlement | 1,450 | ||||||||||
Merger & acquisition expense | 784 | 586 | 4,858 | ||||||||
Miscellaneous other | 12,174 | 11,085 | 10,919 | ||||||||
Total other noninterest expense | 65,273 | 59,436 | 52,835 | ||||||||
Total noninterest expense | $ 36,563 | $ 37,416 | $ 38,267 | $ 33,751 | $ 34,684 | $ 31,439 | $ 32,436 | $ 32,282 | 145,997 | 130,841 | 110,379 |
North Valley Bancorp [Member] | |||||||||||
Schedule Of Other Noninterest Income And Expense [Line Items] | |||||||||||
Base salaries, net of loan origination costs | 187 | ||||||||||
Data processing and software | 108 | 475 | |||||||||
Professional fees | 342 | 120 | 2,390 | ||||||||
Merger & acquisition expense | 784 | 586 | 4,858 | ||||||||
Miscellaneous other | $ 255 | $ 358 | 725 | ||||||||
North Valley Bancorp [Member] | Incentive Compensation [Member] | |||||||||||
Schedule Of Other Noninterest Income And Expense [Line Items] | |||||||||||
Merger & acquisition expense | 1,174 | ||||||||||
North Valley Bancorp [Member] | Benefits and Other Compensation Costs [Member] | |||||||||||
Schedule Of Other Noninterest Income And Expense [Line Items] | |||||||||||
Merger & acquisition expense | $ 94 |
Income Taxes - Components of Co
Income Taxes - Components of Consolidated Income Tax Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current tax expense | |||||||||||
Federal | $ 17,401 | $ 21,076 | $ 14,485 | ||||||||
State | 7,121 | 7,139 | 5,016 | ||||||||
Current tax expense, Total | 24,522 | 28,215 | 19,501 | ||||||||
Deferred tax expense (benefit) | |||||||||||
Federal | 2,735 | 408 | (794) | ||||||||
State | 455 | 273 | (199) | ||||||||
Deferred tax benefit, Total | 3,190 | 681 | (993) | ||||||||
Total tax expense | $ 7,954 | $ 7,694 | $ 5,506 | $ 6,558 | $ 7,388 | $ 8,368 | $ 7,432 | $ 5,708 | $ 27,712 | $ 28,896 | $ 18,508 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes (Textual) [Abstract] | |||
Taxes (benefits) relating to changes in unfunded status of the supplemental retirement plans | $ 429,000 | $ 904,000 | $ (2,984,000) |
Taxes (benefits) related to unrealized gains and losses on available-for-sale investment securities | (4,631,000) | (797,000) | (68,000) |
Taxes (benefits) related to employee stock options | (170,000) | (28,000) | (293,000) |
Carrying value of low income housing tax credit funds | 18,465,000 | 4,223,000 | $ 0 |
Low income housing tax credit fund commitments | 15,176,000 | 3,330,000 | |
Unrecognized tax benefit | 114,000 | 168,000 | |
Interest | 0 | 0 | |
Penalties | 0 | $ 0 | |
North Valley Bancorp [Member] | |||
Income Taxes (Textual) [Abstract] | |||
Unrecognized tax benefits, if recognized | 114,000 | ||
Unrecognized tax benefit | 73,000 | ||
Federal [Member] | |||
Income Taxes (Textual) [Abstract] | |||
Net operating loss carryforwards | 4,600,000 | ||
Capital loss carryforwards | 111,000 | ||
Tax credit carryforwards | 69,000 | ||
California [Member] | |||
Income Taxes (Textual) [Abstract] | |||
Net operating loss carryforwards | 26,000,000 | ||
Capital loss carryforwards | 388,000 | ||
Tax credit carryforwards | $ 2,700,000 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Investments in Qualified Affordable Housing Projects (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
Tax credits and other tax benefits - decrease in tax expense | $ (954) | $ (354) |
Depreciation - increase in tax expense | $ 757 | $ 277 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Effective Tax Rate and Statutory Federal Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal tax benefit | 6.80% | 6.60% | 7.00% |
Tax-exempt interest on municipal obligations | (1.80%) | (0.70%) | (0.40%) |
Tax-exempt life insurance related income | (1.30%) | (1.30%) | (1.50%) |
Low income housing tax credit benefits | (1.30%) | (0.40%) | |
Low income housing tax credit amortization | 0.80% | ||
Non-deductible joint beneficiary agreement expense | 0.10% | 0.10% | 0.20% |
Non-deductible merger expense | 1.00% | ||
Other | (0.10%) | 0.40% | 0.20% |
Effective Tax Rate | 38.20% | 39.70% | 41.50% |
Income Taxes - Company's Net De
Income Taxes - Company's Net Deferred Tax Asset Recorded in Other Assets (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Allowance for losses and reserve for unfunded commitments | $ 14,809,000 | $ 16,182,000 |
Deferred compensation | 2,743,000 | 2,827,000 |
Accrued pension liability | 9,220,000 | 8,597,000 |
Accrued bonus | 1,727,000 | 1,326,000 |
Other accrued expenses | 781,000 | 143,000 |
Unfunded status of the supplemental retirement plans | 1,982,000 | 2,411,000 |
State taxes | 2,257,000 | 2,297,000 |
Share based compensation | 2,063,000 | 2,701,000 |
Nonaccrual interest | 408,000 | 1,979,000 |
OREO write downs | 132,000 | 241,000 |
Indemnification asset | 313,000 | 219,000 |
Acquisition cost basis | 3,996,000 | 5,118,000 |
Unrealized loss on securities | 3,730,000 | |
Tax credits | 491,000 | 491,000 |
Net operating loss carryforwards | 3,354,000 | 5,252,000 |
Other | 981,000 | 889,000 |
Total deferred tax assets | 48,987,000 | 50,673,000 |
Deferred tax liabilities: | ||
Securities income | (1,362,000) | (1,362,000) |
Unrealized gain on securities | (902,000) | |
Depreciation | (3,032,000) | (2,654,000) |
Merger related fixed asset valuations | (54,000) | (54,000) |
Securities accretion | (478,000) | (485,000) |
Mortgage servicing rights valuation | (2,710,000) | (3,118,000) |
Core deposit intangible | (1,813,000) | (2,331,000) |
Junior subordinated debt | (2,616,000) | (2,699,000) |
Prepaid expenses and other | (723,000) | (628,000) |
Total deferred tax liability | (12,788,000) | (14,233,000) |
Net deferred tax asset | $ 36,199,000 | $ 36,440,000 |
Income Taxes - Summary of Chang
Income Taxes - Summary of Changes in Unrecognized Tax Benefit (Including Interest and Penalties) (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Income Tax Disclosure [Abstract] | |
UTB, Beginning Balance | $ 168 |
UTB, Lapse of the applicable statute of limitations | (54) |
UTB, Ending Balance | 114 |
Interest/Penalties, Beginning Balance | 14 |
Interest/Penalties, Lapse of the applicable statute of limitations | (7) |
Interest/Penalties, Ending Balance | 7 |
Total, Beginning Balance | 182 |
Total, Lapse of the applicable statute of limitations | (61) |
Total, Ending Balance | $ 121 |
Earnings per Share - Computatio
Earnings per Share - Computation of Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||||||
Net income | $ 12,533 | $ 12,199 | $ 9,405 | $ 10,674 | $ 11,422 | $ 12,694 | $ 11,366 | $ 8,336 | $ 44,811 | $ 43,818 | $ 26,108 |
Average number of common shares outstanding | 22,814 | 22,750 | 17,716 | ||||||||
Effect of dilutive stock options | 273 | 248 | 207 | ||||||||
Average number of common shares outstanding used to calculate diluted earnings per share | 23,087 | 22,998 | 17,923 |
Earnings per Share - Additional
Earnings per Share - Additional Information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||
Options and restricted stock units excluded from diluted earnings per share because the effect of these options and restricted stock units was antidilutive | 13,825 | 20,625 | 95,600 |
Comprehensive Income - Componen
Comprehensive Income - Components of Other Comprehensive Income and Related Tax Effects (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Equity [Abstract] | |||
Unrealized holding losses on available for sale securities before reclassifications | $ (11,015) | $ (1,895) | $ (162) |
Amounts reclassified out of accumulated other comprehensive income | 0 | 0 | 0 |
Unrealized holding losses on available for sale securities after reclassifications | (11,015) | (1,895) | (162) |
Tax effect | 4,631 | 797 | 68 |
Unrealized holding losses on available for sale securities, net of tax | (6,384) | (1,098) | (94) |
Change in unfunded status of the supplemental retirement plans before reclassifications | 511 | 1,384 | (7,253) |
Amounts reclassified out of accumulated other comprehensive income: | |||
Amortization of prior service cost | (40) | (57) | 138 |
Amortization of actuarial losses | 550 | 823 | 17 |
Total amounts reclassified out of accumulated other comprehensive income | 510 | 766 | 155 |
Change in unfunded status of the supplemental retirement plans after reclassifications | 1,021 | 2,150 | (7,098) |
Tax effect | (429) | (904) | 2,984 |
Change in unfunded status of the supplemental retirement plans, net of tax | 592 | 1,246 | (4,114) |
Change in joint beneficiary agreement liability before reclassifications | (343) | 277 | 148 |
Amounts reclassified out of accumulated other comprehensive income | 0 | 0 | 0 |
Change in joint beneficiary agreement liability after reclassifications | (343) | 277 | 148 |
Tax effect | 0 | 0 | 0 |
Change in joint beneficiary agreement liability, net of tax | (343) | 277 | 148 |
Total other comprehensive income (loss) | $ (6,135) | $ 425 | $ (4,060) |
Comprehensive Income - Compo130
Comprehensive Income - Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss | $ (7,913) | $ (1,778) |
Net Unrealized Gains on Available For Sale Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss, before tax | (8,870) | 2,145 |
Accumulated other comprehensive loss, tax effect | 3,729 | (902) |
Accumulated other comprehensive loss | (5,141) | 1,243 |
Unfunded Status of Supplemental Retirement Plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss, before tax | (4,714) | (5,735) |
Accumulated other comprehensive loss, tax effect | 1,982 | 2,411 |
Accumulated other comprehensive loss | (2,732) | (3,324) |
Joint Beneficiary Agreement Liability [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive loss, before tax | (40) | 303 |
Accumulated other comprehensive loss | $ (40) | $ 303 |
Retirement Plans - Additional I
Retirement Plans - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Salaries & benefits expense | $ 80,724,000 | $ 71,405,000 | $ 57,544,000 |
Employee service period under ESOP | 1 year | ||
Contribution and paid out as benefits under ESOP | $ 1,368,000 | 2,651,000 | 1,294,000 |
Deferred compensation obligations | 6,525,000 | 6,725,000 | |
Earnings credits on deferred balances included in noninterest expense | 487,000 | 538,000 | 551,000 |
Cash values of the insurance policies purchased to fund deferred compensation obligations | 95,912,000 | 94,560,000 | 92,337,000 |
Unfunded status of the supplemental retirement plans | 4,714,000 | 5,735,000 | |
Accumulated other comprehensive loss | 2,732,000 | 3,324,000 | |
Deferred tax asset | 1,982,000 | 2,411,000 | |
Net actuarial loss | 381,000 | ||
Salaries and Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Expenses related to ESOP | $ 1,831,000 | 2,282,000 | 1,467,000 |
401(k) Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Minimum age for employees | 21 years | ||
Minimum period for employees to participate | 90 days | ||
Discretionary matching contribution equal to percentage of participant's contribution | 50.00% | ||
Discretionary matching contribution maximum percentage of eligible compensation | 4.00% | ||
Salaries & benefits expense | $ 678,000 | 300,000 | 0 |
Employer's contribution to retirement plan | 811,000 | 0 | $ 0 |
Supplemental Retirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Cash values of the insurance policies purchased to fund deferred compensation obligations | 95,912,000 | 94,560,000 | |
Unfunded status of the supplemental retirement plans | 4,714,000 | 5,735,000 | |
Accumulated other comprehensive loss | 2,732,000 | 3,324,000 | |
Deferred tax asset | $ 1,982,000 | $ 2,411,000 |
Retirement Plans - Defined Bene
Retirement Plans - Defined Benefit Pension Plans (Detail) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Compensation and Retirement Disclosure [Abstract] | ||
Transition obligation | $ 7,000 | $ 7,000 |
Prior service cost | (75,000) | (115,000) |
Net actuarial loss | 4,782,000 | 5,843,000 |
Amount included in accumulated other comprehensive loss | 4,714,000 | 5,735,000 |
Deferred tax benefit | (1,982,000) | (2,411,000) |
Amount included in accumulated other comprehensive loss, net of tax | $ 2,732,000 | $ 3,324,000 |
Retirement Plans - Information
Retirement Plans - Information Pertaining to Activity in Supplemental Retirement Plans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Change in benefit obligation: | |||
Benefit obligation at beginning of year | $ (26,184) | $ (26,798) | |
Acquisition | 0 | 0 | |
Service cost | (1,042) | (1,023) | $ (652) |
Interest cost | (1,025) | (957) | (739) |
Actuarial (loss)/gain | 511 | 1,382 | |
Benefits paid | 1,095 | 1,212 | |
Benefit obligation at end of year | (26,645) | (26,184) | (26,798) |
Change in plan assets: | |||
Fair value of plan assets at beginning of year | 0 | 0 | |
Fair value of plan assets at end of year | 0 | 0 | $ 0 |
Funded status | (26,645) | (26,184) | |
Unrecognized net obligation existing at January 1, 1986 | 7 | 7 | |
Unrecognized net actuarial loss | 4,782 | 5,843 | |
Unrecognized prior service cost | (75) | (115) | |
Accumulated other comprehensive income | (4,714) | (5,735) | |
Accrued benefit cost | (26,645) | (26,184) | |
Accumulated benefit obligation | $ (25,241) | $ (24,469) |
Retirement Plans - Net Periodic
Retirement Plans - Net Periodic Benefit Cost Recognized for Supplemental Retirement Plans (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net pension cost included the following components: | |||
Service cost-benefits earned during the period | $ 1,042 | $ 1,023 | $ 652 |
Interest cost on projected benefit obligation | 1,025 | 957 | 739 |
Amortization of net obligation at transition | 2 | 2 | 2 |
Amortization of prior service cost | (41) | (57) | 138 |
Recognized net actuarial loss | 549 | 823 | 16 |
Net periodic pension cost | $ 2,577 | $ 2,748 | $ 1,547 |
Retirement Plans - Assumptions
Retirement Plans - Assumptions Used in Accounting for Plans (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate used to calculate benefit obligation | 3.80% | 4.00% | 3.65% |
Discount rate used to calculate net periodic pension cost | 3.80% | 4.00% | 3.65% |
Executive Compensation [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average annual increase in compensation | 2.50% | 2.50% | 2.50% |
Director Compensation [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Average annual increase in compensation | 2.50% | 2.50% | 2.50% |
Retirement Plans - Expected Ben
Retirement Plans - Expected Benefit Payments to Participants and Estimated Contributions to be Made by Company (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Compensation and Retirement Disclosure [Abstract] | |
Expected Benefit Payments to Participants, 2017 | $ 1,067 |
Expected Benefit Payments to Participants, 2018 | 958 |
Expected Benefit Payments to Participants, 2019 | 823 |
Expected Benefit Payments to Participants, 2020 | 701 |
Expected Benefit Payments to Participants, 2021 | 520 |
Expected Benefit Payments to Participants, 2022-2026 | 3,212 |
Estimated Company Contributions, 2017 | 1,067 |
Estimated Company Contributions, 2018 | 958 |
Estimated Company Contributions, 2019 | 823 |
Estimated Company Contributions, 2020 | 701 |
Estimated Company Contributions, 2021 | 520 |
Estimated Company Contributions, 2022-2026 | $ 3,212 |
Related Party Transactions - Su
Related Party Transactions - Summary of Activity in Lending Transactions (Detail) - Directors and Officers [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | ||
Beginning balance | $ 4,201 | $ 3,132 |
Advances/new loans | 730 | 3,098 |
Removed/payments | (2,499) | (2,029) |
Ending balance | $ 2,432 | $ 4,201 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Modern Building Inc. [Member] | |||
Related Party Transaction [Line Items] | |||
Aggregate payments for construction services | $ 2,289,000 | $ 1,030,000 | $ 1,181,000 |
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 [Member] - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 556,828 | $ 412,503 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 429,678 | 313,682 |
Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 117,617 | 88,218 |
Marketable Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,938 | 2,985 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,938 | 2,985 |
Level 1 [Member] | Marketable Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,938 | 2,985 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 547,295 | 401,900 |
Level 2 [Member] | Obligations of U.S. Government Corporations and Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 429,678 | 313,682 |
Level 2 [Member] | Obligations of States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 117,617 | 88,218 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 6,595 | 7,618 |
Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 6,595 | 7,618 |
Mortgage Servicing Rights [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 6,595 | $ 7,618 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Transfers between any levels | $ 0 | $ 0 |
Carrying value of loans fully charged-off | 0 | |
Securities held to maturity | 602,536,000 | 726,530,000 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities held to maturity | $ 0 | $ 0 |
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 [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Ending Balance | $ 6,595 | $ 7,618 |
Transfers into (out of) Level 3 | 0 | 0 |
Change Included in Earnings | (2,184) | (701) |
Issuances | 1,161 | 941 |
Beginning Balance | $ 7,618 | $ 7,378 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information about Recurring Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Constant prepayment rate | 8.80% | 9.80% | 12.00% | |
Discount rate | 14.00% | 10.00% | 10.00% | |
Mortgage Servicing Rights [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Mortgages Servicing Rights, Fair Value | $ 6,595 | $ 7,618 | $ 7,378 | $ 6,165 |
Minimum [Member] | Mortgage Servicing Rights [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Discount rate | 14.00% | |||
Minimum [Member] | Mortgage Servicing Rights [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Constant prepayment rate | 6.90% | |||
Maximum [Member] | Mortgage Servicing Rights [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Discount rate | 16.00% | |||
Maximum [Member] | Mortgage Servicing Rights [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Constant prepayment rate | 16.60% | |||
Weighted Average [Member] | Mortgage Servicing Rights [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Discount rate | 14.00% | |||
Weighted Average [Member] | Mortgage Servicing Rights [Member] | Discounted Cash Flow [Member] | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||||
Constant prepayment rate | 8.80% |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Impaired Originated & PNCI Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 1,107 | |
Fair Value Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 3,360 | $ 6,488 |
Total Gains/(Losses) | (495) | (1,081) |
Fair Value Nonrecurring Basis [Member] | Impaired Originated & PNCI Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,107 | 4,649 |
Total Gains/(Losses) | (409) | (663) |
Fair Value Nonrecurring Basis [Member] | Foreclosed Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 2,253 | 1,839 |
Total Gains/(Losses) | (86) | (418) |
Fair Value Nonrecurring Basis [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 3,360 | 6,488 |
Fair Value Nonrecurring Basis [Member] | Level 3 [Member] | Impaired Originated & PNCI Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 1,107 | 4,649 |
Fair Value Nonrecurring Basis [Member] | Level 3 [Member] | Foreclosed Assets [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 2,253 | $ 1,839 |
Fair Value Measurement - Qua144
Fair Value Measurement - Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Impaired Originated & PNCI Loans [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value | $ 1,107 |
Foreclosed Assets [Member] | Land & Construction [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value | 15 |
Foreclosed Assets [Member] | Residential Real Estate [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value | 1,564 |
Foreclosed Assets [Member] | Commercial Real Estate [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value | $ 674 |
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 ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Financial assets: | ||
Cash and due from banks | $ 92,197,000 | $ 94,305,000 |
Cash at Federal Reserve and other banks | 213,415,000 | 209,156,000 |
Securities held to maturity | 602,536,000 | 726,530,000 |
Financial liabilities: | ||
Other borrowings | 17,493,000 | 12,328,000 |
Junior subordinated debt | 56,667,000 | 56,470,000 |
Level 3 [Member] | ||
Financial assets: | ||
Securities held to maturity | 0 | 0 |
Level 3 [Member] | Overdraft Privilege Commitments [Member] | ||
Off-balance sheet: | ||
Contract amount, Off-balance sheet | 98,583,000 | 94,473,000 |
Level 3 [Member] | Standby Letters of Credit [Member] | ||
Off-balance sheet: | ||
Contract amount, Off-balance sheet | 12,763,000 | 8,330,000 |
Level 3 [Member] | Commitments [Member] | ||
Off-balance sheet: | ||
Contract amount, Off-balance sheet | 767,274,000 | 705,316,000 |
Fair Value [Member] | Level 3 [Member] | ||
Financial assets: | ||
Loans, net | 2,763,473,000 | 2,555,297,000 |
Financial liabilities: | ||
Junior subordinated debt | 49,033,000 | 44,527,000 |
Fair Value [Member] | Level 3 [Member] | Overdraft Privilege Commitments [Member] | ||
Off-balance sheet: | ||
Fair value, Off-balance sheet | 986,000 | 945,000 |
Fair Value [Member] | Level 3 [Member] | Standby Letters of Credit [Member] | ||
Off-balance sheet: | ||
Fair value, Off-balance sheet | 128,000 | 83,000 |
Fair Value [Member] | Level 3 [Member] | Commitments [Member] | ||
Off-balance sheet: | ||
Fair value, Off-balance sheet | 7,673,000 | 7,053,000 |
Fair Value [Member] | Level 1 [Member] | ||
Financial assets: | ||
Cash and due from banks | 92,197,000 | 94,305,000 |
Cash at Federal Reserve and other banks | 213,415,000 | 209,156,000 |
Fair Value [Member] | Level 2 [Member] | ||
Financial assets: | ||
Securities held to maturity | 603,203,000 | 732,208,000 |
Loans held for sale | 2,998,000 | 1,873,000 |
Financial liabilities: | ||
Deposits | 3,893,941,000 | 3,630,129,000 |
Other borrowings | 17,493,000 | 12,328,000 |
Carrying Amount [Member] | Level 3 [Member] | ||
Financial assets: | ||
Loans, net | 2,727,090,000 | 2,486,926,000 |
Financial liabilities: | ||
Junior subordinated debt | 56,667,000 | 56,470,000 |
Carrying Amount [Member] | Level 1 [Member] | ||
Financial assets: | ||
Cash and due from banks | 92,197,000 | 94,305,000 |
Cash at Federal Reserve and other banks | 213,415,000 | 209,156,000 |
Carrying Amount [Member] | Level 2 [Member] | ||
Financial assets: | ||
Securities held to maturity | 602,536,000 | 726,530,000 |
Restricted equity securities | 16,956,000 | 16,596,000 |
Loans held for sale | 2,998,000 | 1,873,000 |
Financial liabilities: | ||
Deposits | 3,895,560,000 | 3,631,266,000 |
Other borrowings | $ 17,493,000 | $ 12,328,000 |
TriCo Bancshares Condensed F146
TriCo Bancshares Condensed Financial Statements (Parent Only) - Condensed Balance Sheets (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and Cash equivalents | $ 305,612 | $ 303,461 | $ 610,728 | $ 598,368 |
Other assets | 74,743 | 48,591 | ||
Total assets | 4,517,968 | 4,220,722 | ||
Liabilities and shareholders' equity | ||||
Other liabilities | 67,364 | 65,293 | ||
Junior subordinated debt | 56,667 | 56,470 | ||
Total liabilities | 4,040,621 | 3,768,606 | ||
Shareholders' equity: | ||||
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 22,867,802 and 22,775,173 shares, respectively | 252,820 | 247,587 | ||
Retained earnings | 232,440 | 206,307 | ||
Accumulated other comprehensive loss, net | (7,913) | (1,778) | ||
Total shareholders' equity | 477,347 | 452,116 | 418,172 | 250,946 |
Total liabilities and shareholders' equity | 4,517,968 | 4,220,722 | ||
Parent [Member] | ||||
Assets | ||||
Cash and Cash equivalents | 2,802 | 2,565 | $ 2,229 | $ 2,520 |
Investment in Tri Counties Bank | 529,907 | 504,655 | ||
Other assets | 1,711 | 1,714 | ||
Total assets | 534,420 | 508,934 | ||
Liabilities and shareholders' equity | ||||
Other liabilities | 406 | 348 | ||
Junior subordinated debt | 56,667 | 56,470 | ||
Total liabilities | 57,073 | 56,818 | ||
Shareholders' equity: | ||||
Common stock, no par value: authorized 50,000,000 shares; issued and outstanding 22,867,802 and 22,775,173 shares, respectively | 252,820 | 247,587 | ||
Retained earnings | 232,440 | 206,307 | ||
Accumulated other comprehensive loss, net | (7,913) | (1,778) | ||
Total shareholders' equity | 477,347 | 452,116 | ||
Total liabilities and shareholders' equity | $ 534,420 | $ 508,934 |
TriCo Bancshares Condensed F147
TriCo Bancshares Condensed Financial Statements (Parent Only) - Condensed Balance Sheets (Parenthetical) (Detail) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 | Aug. 21, 2007 |
Condensed Financial Statements, Captions [Line Items] | |||
Common stock, par value | |||
Common stock, shares authorized | 50,000,000 | 50,000,000 | |
Common stock, shares issued | 22,867,802 | 22,775,173 | |
Common stock, shares outstanding | 22,867,802 | 22,775,173 | 15,814,662 |
Parent [Member] | |||
Condensed Financial Statements, Captions [Line Items] | |||
Common stock, par value | |||
Common stock, shares authorized | 50,000,000 | 50,000,000 | |
Common stock, shares issued | 22,867,802 | 22,775,173 | |
Common stock, shares outstanding | 22,867,802 | 22,775,173 |
TriCo Bancshares Condensed F148
TriCo Bancshares Condensed Financial Statements (Parent Only) - Condensed Statements of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Interest expense | $ (1,460) | $ (1,439) | $ (1,430) | $ (1,392) | $ (1,349) | $ (1,339) | $ (1,346) | $ (1,382) | $ (5,721) | $ (5,416) | $ (4,681) |
Income before income taxes | 20,487 | 19,893 | 14,911 | 17,232 | 18,810 | 21,062 | 18,798 | 14,044 | 72,523 | 72,714 | 44,616 |
Equity in net income of Tri Counties Bank: | |||||||||||
Income tax benefit | (7,954) | (7,694) | (5,506) | (6,558) | (7,388) | (8,368) | (7,432) | (5,708) | (27,712) | (28,896) | (18,508) |
Net income | $ 12,533 | $ 12,199 | $ 9,405 | $ 10,674 | $ 11,422 | $ 12,694 | $ 11,366 | $ 8,336 | 44,811 | 43,818 | 26,108 |
Parent [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Interest expense | (2,229) | (1,977) | (1,403) | ||||||||
Administration expense | (725) | (814) | (2,720) | ||||||||
Income before income taxes | (2,954) | (2,791) | (4,123) | ||||||||
Equity in net income of Tri Counties Bank: | |||||||||||
Distributed | 16,758 | 13,304 | 8,270 | ||||||||
Undistributed | 29,764 | 32,131 | 20,720 | ||||||||
Income tax benefit | 1,243 | 1,174 | 1,241 | ||||||||
Net income | $ 44,811 | $ 43,818 | $ 26,108 |
TriCo Bancshares Condensed F149
TriCo Bancshares Condensed Financial Statements (Parent Only) - Condensed Statements of Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Net income | $ 12,533 | $ 12,199 | $ 9,405 | $ 10,674 | $ 11,422 | $ 12,694 | $ 11,366 | $ 8,336 | $ 44,811 | $ 43,818 | $ 26,108 |
Other comprehensive (loss) income, net of tax: | |||||||||||
Unrealized holding (losses) gains on securities arising during the period | (6,384) | (1,098) | (94) | ||||||||
Change in minimum pension liability | 592 | 1,246 | (4,114) | ||||||||
Change in joint beneficiary agreement liability | (343) | 277 | 148 | ||||||||
Other comprehensive (loss) income | (6,135) | 425 | (4,060) | ||||||||
Net income | 38,676 | 44,243 | 22,048 | ||||||||
Parent [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Net income | 44,811 | 43,818 | 26,108 | ||||||||
Other comprehensive (loss) income, net of tax: | |||||||||||
Unrealized holding (losses) gains on securities arising during the period | (6,384) | (1,098) | (94) | ||||||||
Change in minimum pension liability | 592 | 1,246 | (4,114) | ||||||||
Change in joint beneficiary agreement liability | (343) | 277 | 148 | ||||||||
Other comprehensive (loss) income | (6,135) | 425 | (4,060) | ||||||||
Net income | $ 38,676 | $ 44,243 | $ 22,048 |
TriCo Bancshares Condensed F150
TriCo Bancshares Condensed Financial Statements (Parent Only) - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||||||||||
Net income | $ 12,533 | $ 12,199 | $ 9,405 | $ 10,674 | $ 11,422 | $ 12,694 | $ 11,366 | $ 8,336 | $ 44,811 | $ 43,818 | $ 26,108 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity compensation vesting expense | 1,467 | 1,370 | 1,133 | ||||||||
Net cash from operating activities | 48,226 | 54,817 | 27,417 | ||||||||
Financing activities: | |||||||||||
Repurchase of common stock | (1,890) | (412) | (292) | ||||||||
Cash dividends paid - common | (13,695) | (11,849) | (7,807) | ||||||||
Net cash from financing activities | 93,316 | 242,226 | 163,667 | ||||||||
Net change in cash and cash equivalents | 2,151 | (307,267) | 12,360 | ||||||||
Cash and cash equivalents and beginning of year | 303,461 | 610,728 | 303,461 | 610,728 | 598,368 | ||||||
Cash and cash equivalents at end of year | 305,612 | 303,461 | 305,612 | 303,461 | 610,728 | ||||||
Parent [Member] | |||||||||||
Operating activities: | |||||||||||
Net income | 44,811 | 43,818 | 26,108 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Undistributed equity in earnings of Tri Counties Bank | (29,764) | (32,131) | (20,720) | ||||||||
Equity compensation vesting expense | 1,467 | 1,370 | 1,133 | ||||||||
Equity compensation tax effect | (155) | 68 | (225) | ||||||||
Net change in other assets and liabilities | (1,210) | (1,120) | 671 | ||||||||
Net cash from operating activities | 15,149 | 12,005 | 6,967 | ||||||||
Financing activities: | |||||||||||
Issuance of common stock through option exercise | 518 | 660 | 616 | ||||||||
Equity compensation tax effect | 155 | (68) | 225 | ||||||||
Repurchase of common stock | (1,890) | (412) | (292) | ||||||||
Cash dividends paid - common | (13,695) | (11,849) | (7,807) | ||||||||
Net cash from financing activities | (14,912) | (11,669) | (7,258) | ||||||||
Net change in cash and cash equivalents | 237 | 336 | (291) | ||||||||
Cash and cash equivalents and beginning of year | $ 2,565 | $ 2,229 | 2,565 | 2,229 | 2,520 | ||||||
Cash and cash equivalents at end of year | $ 2,802 | $ 2,565 | $ 2,802 | $ 2,565 | $ 2,229 |
Regulatory Matters - Actual and
Regulatory Matters - Actual and Required Capital Ratios of Bank (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Parent [Member] | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Actual, Amount | $ 503,283 | $ 474,436 |
Tier 1 Capital (to Risk Weighted Assets), Actual, Amount | 468,061 | 435,950 |
Tier 1 Capital (to Average Assets), Actual, Amount | $ 468,061 | $ 435,950 |
Total Capital (to Risk Weighted Assets), Actual, Ratio | 14.65% | 15.09% |
Tier 1 Capital (to Risk Weighted Assets), Actual, Ratio | 13.62% | 13.86% |
Tier 1 Capital (to Average Assets), Actual, Ratio | 10.62% | 10.79% |
Parent [Member] | Basel III Phase-in Schedule [Member] | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | $ 274,862 | $ 251,555 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | 206,147 | 188,666 |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement, Amount | $ 176,346 | $ 161,562 |
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 8.00% | 8.00% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 6.00% | 6.00% |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement, Ratio | 4.00% | 4.00% |
Parent [Member] | Basel III Fully Phased In [Member] | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | $ 360,756 | $ 330,165 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | 292,041 | 267,277 |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement, Amount | $ 176,346 | $ 161,562 |
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 10.50% | 10.50% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 8.50% | 8.50% |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement, Ratio | 4.00% | 4.00% |
Parent [Member] | Common Stock [Member] | ||
Schedule of Capitalization [Line Items] | ||
Tier 1 Capital (to Risk Weighted Assets), Actual, Amount | $ 414,632 | $ 385,747 |
Tier 1 Capital (to Risk Weighted Assets), Actual, Ratio | 12.07% | 12.27% |
Parent [Member] | Common Stock [Member] | Basel III Phase-in Schedule [Member] | ||
Schedule of Capitalization [Line Items] | ||
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | $ 154,610 | $ 141,499 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 4.50% | 4.50% |
Parent [Member] | Common Stock [Member] | Basel III Fully Phased In [Member] | ||
Schedule of Capitalization [Line Items] | ||
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | $ 240,504 | $ 220,110 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 7.00% | 7.00% |
Tri Countries Bank [Member] | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Actual, Amount | $ 500,876 | $ 473,327 |
Tier 1 Capital (to Risk Weighted Assets), Actual, Amount | 465,654 | 434,841 |
Tier 1 Capital (to Average Assets), Actual, Amount | $ 465,654 | $ 434,841 |
Total Capital (to Risk Weighted Assets), Actual, Ratio | 14.59% | 15.06% |
Tier 1 Capital (to Risk Weighted Assets), Actual, Ratio | 13.56% | 13.84% |
Tier 1 Capital (to Average Assets), Actual, Ratio | 10.56% | 10.76% |
Total Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 343,407 | $ 314,272 |
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 274,725 | 251,418 |
Tier 1 Capital (to Average Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 220,426 | $ 202,002 |
Total Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Tier 1 Capital (to Average Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Tri Countries Bank [Member] | Basel III Phase-in Schedule [Member] | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | $ 274,725 | $ 251,418 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | 206,044 | 188,563 |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement, Amount | $ 176,341 | $ 161,601 |
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 8.00% | 8.00% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 6.00% | 6.00% |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement, Ratio | 4.00% | 4.00% |
Tri Countries Bank [Member] | Basel III Fully Phased In [Member] | ||
Schedule of Capitalization [Line Items] | ||
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | $ 360,577 | $ 329,985 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | 291,896 | 267,131 |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement, Amount | $ 176,341 | $ 161,601 |
Total Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 10.50% | 10.50% |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 8.50% | 8.50% |
Tier 1 Capital (to Average Assets), Minimum Capital Requirement, Ratio | 4.00% | 4.00% |
Tri Countries Bank [Member] | Common Stock [Member] | ||
Schedule of Capitalization [Line Items] | ||
Tier 1 Capital (to Risk Weighted Assets), Actual, Amount | $ 465,654 | $ 434,841 |
Tier 1 Capital (to Risk Weighted Assets), Actual, Ratio | 13.56% | 13.84% |
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 223,214 | $ 204,277 |
Tier 1 Capital (to Risk Weighted Assets), Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Tri Countries Bank [Member] | Common Stock [Member] | Basel III Phase-in Schedule [Member] | ||
Schedule of Capitalization [Line Items] | ||
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | $ 154,533 | $ 141,422 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 4.50% | 4.50% |
Tri Countries Bank [Member] | Common Stock [Member] | Basel III Fully Phased In [Member] | ||
Schedule of Capitalization [Line Items] | ||
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Amount | $ 240,385 | $ 219,990 |
Tier 1 Capital (to Risk Weighted Assets), Minimum Capital Requirement, Ratio | 7.00% | 7.00% |
Summary of Quarterly Results152
Summary of Quarterly Results of Operations (Unaudited) - Result of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Loans: | |||||||||||
Discount accretion PCI - cash basis | $ 483 | $ 777 | $ 426 | $ 269 | $ 302 | $ 445 | $ 404 | $ 172 | |||
Discount accretion PCI - other | 658 | 569 | 415 | (45) | 1,392 | 1,090 | 907 | 1,274 | |||
Discount accretion PNCI | 637 | 883 | 1,459 | 868 | 573 | 1,590 | 822 | 1,348 | |||
All other loan interest income | 34,463 | 33,540 | 32,038 | 33,646 | 32,571 | 30,689 | 29,886 | 28,371 | |||
Total loan interest income | 36,241 | 35,769 | 34,338 | 34,738 | 34,838 | 33,814 | 32,019 | 31,165 | $ 141,086 | $ 131,836 | $ 103,887 |
Debt securities, dividends and interest bearing cash at banks (not FTE) | 8,374 | 7,940 | 8,252 | 8,056 | 7,652 | 7,518 | 7,848 | 6,560 | |||
Total interest and dividend income | 44,615 | 43,709 | 42,590 | 42,794 | 42,490 | 41,332 | 39,867 | 37,725 | 173,708 | 161,414 | 121,115 |
Interest expense | 1,460 | 1,439 | 1,430 | 1,392 | 1,349 | 1,339 | 1,346 | 1,382 | 5,721 | 5,416 | 4,681 |
Net interest income | 43,155 | 42,270 | 41,160 | 41,402 | 41,141 | 39,993 | 38,521 | 36,343 | 167,987 | 155,998 | 116,434 |
(Benefit from reversal of) provision for loan losses | (1,433) | (3,973) | (773) | 209 | (908) | (866) | (633) | 197 | (5,970) | (2,210) | (4,045) |
Net interest income after provision for loan losses | 44,588 | 46,243 | 41,933 | 41,193 | 42,049 | 40,859 | 39,154 | 36,146 | 173,957 | 158,208 | 120,479 |
Noninterest income | 12,462 | 11,066 | 11,245 | 9,790 | 11,445 | 11,642 | 12,080 | 10,180 | 44,563 | 45,347 | 34,516 |
Noninterest expense | 36,563 | 37,416 | 38,267 | 33,751 | 34,684 | 31,439 | 32,436 | 32,282 | 145,997 | 130,841 | 110,379 |
Income before income taxes | 20,487 | 19,893 | 14,911 | 17,232 | 18,810 | 21,062 | 18,798 | 14,044 | 72,523 | 72,714 | 44,616 |
Income tax expense | 7,954 | 7,694 | 5,506 | 6,558 | 7,388 | 8,368 | 7,432 | 5,708 | 27,712 | 28,896 | 18,508 |
Net income | $ 12,533 | $ 12,199 | $ 9,405 | $ 10,674 | $ 11,422 | $ 12,694 | $ 11,366 | $ 8,336 | $ 44,811 | $ 43,818 | $ 26,108 |
Per common share: | |||||||||||
Net income (diluted) | $ 0.54 | $ 0.53 | $ 0.41 | $ 0.46 | $ 0.50 | $ 0.55 | $ 0.49 | $ 0.36 | $ 1.94 | $ 1.91 | $ 1.46 |
Dividends | $ 0.15 | $ 0.15 | $ 0.15 | $ 0.15 | $ 0.15 | $ 0.13 | $ 0.13 | $ 0.11 | $ 0.60 | $ 0.52 | $ 0.44 |