Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 06, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | HBNC | |
Entity Registrant Name | HORIZON BANCORP INC /IN/ | |
Entity Central Index Key | 706,129 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 38,362,640 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 69,018 | $ 76,441 |
Investment securities, available for sale | 526,195 | 509,665 |
Investment securities, held to maturity (fair value of $206,730 and $201,085) | 209,767 | 200,448 |
Loans held for sale | 3,000 | 3,094 |
Loans, net of allowance for loan losses of $17,071 and $16,394 | 2,907,445 | 2,815,601 |
Premises and equipment, net | 75,063 | 75,529 |
Federal Home Loan Bank stock | 18,105 | 18,105 |
Goodwill | 119,880 | 119,880 |
Other intangible assets | 11,359 | 12,402 |
Interest receivable | 12,993 | 16,244 |
Cash value of life insurance | 76,576 | 75,931 |
Other assets | 47,210 | 40,963 |
Total assets | 4,076,611 | 3,964,303 |
Liabilities | ||
Non-interest bearing | 615,018 | 601,805 |
Interest bearing | 2,401,145 | 2,279,198 |
Total deposits | 3,016,163 | 2,881,003 |
Borrowings | 524,846 | 564,157 |
Subordinated debentures | 37,745 | 37,653 |
Interest payable | 1,441 | 886 |
Other liabilities | 25,881 | 23,526 |
Total liabilities | 3,606,076 | 3,507,225 |
Commitments and contingent liabilities | ||
Stockholders' Equity | ||
Preferred stock, Authorized, 1,000,000 shares, Issued 0 shares | ||
Common stock, no par value, Authorized 99,000,000 shares (Restated - See Note 1) Issued 38,387,709 and 38,323,604 shares (Restated - See Note 1), Outstanding 38,362,640 and 38,294,729 shares (Restated - See Note 1) | 0 | 0 |
Additional paid-in capital | 275,587 | 275,059 |
Retained earnings | 205,535 | 185,570 |
Accumulated other comprehensive loss | (10,587) | (3,551) |
Total stockholders' equity | 470,535 | 457,078 |
Total liabilities and stockholders' equity | $ 4,076,611 | $ 3,964,303 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Investment securities, held to maturity fair value | $ 206,730 | $ 201,085 |
Allowance for loan losses | $ 17,071 | $ 16,394 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | ||
Common stock, shares authorized | 99,000,000 | 99,000,000 |
Common stock, shares issued | 38,387,709 | 38,323,604 |
Common stock, shares outstanding | 38,362,640 | 38,294,729 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest Income | ||||
Loans receivable | $ 36,308 | $ 26,795 | $ 71,439 | $ 51,586 |
Investment securities | ||||
Taxable | 2,563 | 2,244 | 4,993 | 4,650 |
Tax exempt | 1,870 | 1,766 | 3,735 | 3,403 |
Total interest income | 40,741 | 30,805 | 80,167 | 59,639 |
Interest Expense | ||||
Deposits | 3,920 | 1,721 | 6,791 | 3,474 |
Borrowed funds | 2,679 | 1,338 | 5,251 | 2,275 |
Subordinated debentures | 592 | 548 | 1,164 | 1,124 |
Total interest expense | 7,191 | 3,607 | 13,206 | 6,873 |
Net Interest Income | 33,550 | 27,198 | 66,961 | 52,766 |
Provision for loan losses | 635 | 330 | 1,202 | 660 |
Net Interest Income after Provision for Loan Losses | 32,915 | 26,868 | 65,759 | 52,106 |
Non-interest Income | ||||
Wire transfer fees | 180 | 178 | 330 | 328 |
Interchange fees | 1,555 | 1,382 | 2,883 | 2,558 |
Gains on sale of investment securities (includes $0 and $(3) for the three months ended June 30, 2018 and 2017, respectively, and $11 and $32 for the six months ended June 30, 2018 and 2017, respectively, related to accumulated other comprehensive earnings reclassifications) | (3) | 11 | 32 | |
Gain on sale of mortgage loans | 1,896 | 2,054 | 3,319 | 3,968 |
Mortgage servicing income net of impairment | 511 | 359 | 860 | 806 |
Increase in cash value of bank owned life insurance | 442 | 408 | 877 | 872 |
Death benefit on bank owned life insurance | 154 | 154 | ||
Other income | 469 | 325 | 1,278 | 376 |
Total non-interest income | 8,932 | 8,212 | 17,250 | 15,771 |
Non-interest Expense | ||||
Salaries and employee benefits | 13,809 | 12,466 | 28,182 | 24,175 |
Net occupancy expenses | 2,520 | 2,196 | 5,486 | 4,648 |
Data processing | 1,607 | 1,502 | 3,303 | 2,809 |
Professional fees | 376 | 535 | 877 | 1,148 |
Outside services and consultants | 1,267 | 1,265 | 2,531 | 2,487 |
Loan expense | 1,525 | 1,250 | 2,782 | 2,357 |
FDIC insurance expense | 345 | 243 | 655 | 506 |
Other losses | 269 | 78 | 415 | 128 |
Other expense | 3,224 | 2,953 | 6,548 | 5,751 |
Total non-interest expense | 24,942 | 22,488 | 50,779 | 44,009 |
Income Before Income Taxes | 16,905 | 12,592 | 32,230 | 23,868 |
Income tax expense (includes $0 and $(1) for the three months ended June 30, 2018 and 2017, respectively, and $2 and $11 for the six months ended June 30, 2018 and 2017, respectively, related to income tax expense from reclassification items) | 2,790 | 3,520 | 5,311 | 6,572 |
Net Income | $ 14,115 | $ 9,072 | $ 26,919 | $ 17,296 |
Basic Earnings Per Share | $ 0.37 | $ 0.27 | $ 0.70 | $ 0.52 |
Diluted Earnings Per Share | $ 0.37 | $ 0.27 | $ 0.70 | $ 0.51 |
Deposit Account [Member] | ||||
Non-interest Income | ||||
Non-interest income | $ 1,907 | $ 1,566 | $ 3,795 | $ 2,966 |
Fiduciary Activities [Member] | ||||
Non-interest Income | ||||
Non-interest income | $ 1,818 | $ 1,943 | $ 3,743 | $ 3,865 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Statement [Abstract] | ||||
Accumulated other comprehensive earnings reclassifications | $ 0 | $ (3) | $ 11 | $ 32 |
Income tax expense from reclassification | $ 0 | $ (1) | $ 2 | $ 11 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 14,115 | $ 9,072 | $ 26,919 | $ 17,296 |
Change in fair value of derivative instruments: | ||||
Change in fair value of derivative instruments for the period | 354 | 46 | 1,113 | 446 |
Income tax effect | (75) | (16) | (234) | (156) |
Changes from derivative instruments | 279 | 30 | 879 | 290 |
Change in securities: | ||||
Unrealized appreciation (depreciation) for the period on AFS securities | (829) | 3,638 | (8,943) | 6,235 |
Amortization from transfer of securities from available for sale to held to maturity securities | (46) | (58) | (98) | (146) |
Reclassification adjustment for securities (gains) losses realized in income | 0 | 3 | (11) | (32) |
Income tax effect | 187 | (1,252) | 1,903 | (2,119) |
Unrealized gains (losses) on securities | (688) | 2,331 | (7,149) | 3,938 |
Other Comprehensive Income (Loss), Net of Tax | (409) | 2,361 | (6,270) | 4,228 |
Comprehensive Income | $ 13,706 | $ 11,433 | $ 20,649 | $ 21,524 |
Condensed Consolidated Stateme7
Condensed Consolidated Statement of Stockholders' Equity - 6 months ended Jun. 30, 2018 - USD ($) $ in Thousands | Total | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] |
Beginning Balances at Dec. 31, 2017 | $ 457,078 | $ 275,059 | $ 185,570 | $ (3,551) |
Net income | 26,919 | 26,919 | ||
Other comprehensive loss, net of tax | (6,270) | (6,270) | ||
Amortization of unearned compensation | (79) | (79) | ||
Exercise of stock options | 444 | 444 | ||
Stock option expense | 163 | 163 | ||
Reclassification of tax adjustment on accumulated other comprehensive loss | 766 | (766) | ||
Cash dividends on common stock | (7,720) | (7,720) | ||
Ending Balances at Jun. 30, 2018 | $ 470,535 | $ 275,587 | $ 205,535 | $ (10,587) |
Condensed Consolidated Stateme8
Condensed Consolidated Statement of Stockholders' Equity (Parenthetical) | 6 Months Ended |
Jun. 30, 2018$ / shares | |
Statement of Stockholders' Equity [Abstract] | |
Cash dividends on common stock, per share | $ 0.20 |
Condensed Consolidated Stateme9
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Operating Activities | ||
Net income | $ 26,919 | $ 17,296 |
Items not requiring (providing) cash | ||
Provision for loan losses | 1,202 | 660 |
Depreciation and amortization | 3,300 | 2,820 |
Share based compensation | 163 | 158 |
Mortgage servicing rights, net impairment | 24 | 23 |
Premium amortization on securities, net | 2,985 | 2,945 |
Gain on sale of investment securities | (11) | (32) |
Gain on sale of mortgage loans | (3,319) | (3,968) |
Proceeds from sales of loans | 95,218 | 113,382 |
Loans originated for sale | (86,812) | (107,473) |
Change in cash value life insurance | (877) | (872) |
Death benefit on bank owned life insurance | (154) | |
(Gain)/loss on sale of other real estate owned | (55) | 83 |
Net change in: | ||
Interest receivable | 3,251 | (584) |
Interest payable | 555 | 81 |
Other assets | (4,220) | 3,714 |
Other liabilities | 7,211 | (1,794) |
Net cash provided by operating activities | 45,380 | 26,439 |
Investing Activities | ||
Purchases of securities available for sale | (84,909) | (97,482) |
Proceeds from sales, maturities, calls and principal repayments of securities available for sale | 55,723 | 44,223 |
Purchases of securities held to maturity | (14,207) | (19,948) |
Proceeds from maturities of securities held to maturity | 5,517 | 4,853 |
Change in Federal Reserve and FHLB stock | 8,987 | |
Net change in loans | (102,516) | (128,271) |
Proceeds on the sale of OREO and repossessed assets | 794 | 1,057 |
Change in premises and equipment, net | (1,870) | (1,052) |
Net cash received in acquisition of branch | 11,000 | |
Net cash used in investing activities | (141,468) | (176,633) |
Net change in: | ||
Deposits | 135,160 | (67,254) |
Borrowings | (39,219) | 217,921 |
Proceeds from issuance of stock | 444 | 34 |
Dividends paid on common stock | (7,720) | (5,346) |
Net cash provided by financing activities | 88,665 | 145,355 |
Net Change in Cash and Cash Equivalents | (7,423) | (4,839) |
Cash and Cash Equivalents, Beginning of Period | 76,441 | 70,832 |
Cash and Cash Equivalents, End of Period | 69,018 | 65,993 |
Additional Supplemental Information | ||
Interest paid | 12,651 | 6,786 |
Income taxes paid | 3,966 | 6,350 |
Transfer of loans to other real estate | $ 733 | 1,416 |
LaPorte Bancorp Inc [Member] | ||
Additional Supplemental Information | ||
Acquisition of LaPorte, measurement period adjustments | $ 704 |
Accounting Policies
Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Accounting Policies | Note 1 – Accounting Policies The accompanying unaudited condensed consolidated financial statements include the accounts of Horizon Bancorp, Inc. (“Horizon” or the “Company”) and its wholly-owned subsidiaries, including Horizon Bank (“Horizon Bank” or the “Bank”). Horizon Bank (formerly known as “Horizon Bank, N.A.”) was a national association until its conversion to an Indiana commercial bank effective June 23, 2017. All inter-company balances and transactions have been eliminated. The results of operations for the periods ended June 30, 2018 and June 30, 2017 are not necessarily indicative of the operating results for the full year of 2018 or 2017. The accompanying unaudited condensed consolidated financial statements reflect all adjustments that are, in the opinion of Horizon’s management, necessary to fairly present the financial position, results of operations and cash flows of Horizon for the periods presented. Those adjustments consist only of normal recurring adjustments. Certain information and note disclosures normally included in Horizon’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Horizon’s Annual Report on Form 10-K On May 15, 2018, the Board of Directors of the Company approved a three-for-two three-for-two three-for-two Basic earnings per share is computed by dividing net income available to common shareholders (net income less dividend requirements for preferred stock and accretion of preferred stock discount) by the weighted-average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The following table shows computation of basic and diluted earnings per share. Three Months Ended Six Months Ended June 30 June 30 2018 2017 2018 2017 Basic earnings per share Net income $ 14,115 $ 9,072 $ 26,919 $ 17,296 Weighted average common shares outstanding (1) 38,347,612 33,264,697 38,327,118 33,263,997 Basic earnings per share $ 0.37 $ 0.27 $ 0.70 $ 0.52 Diluted earnings per share Net income available to common shareholders $ 14,115 $ 9,072 $ 26,919 $ 17,296 Weighted average common shares outstanding (1) 38,347,612 33,264,697 38,327,118 33,263,997 Effect of dilutive securities: Restricted stock 47,307 45,136 37,383 49,807 Stock options 124,482 173,751 119,820 172,975 Weighted average common shares outstanding 38,519,401 33,483,584 38,484,321 33,486,779 $ 0.37 $ 0.27 $ 0.70 $ 0.51 (1) adjusted for 3:2 stock split on June 15, 2018 There were zero shares for the three months ended June 30, 2018 and 2017, respectively, which were not included in the computation of diluted earnings per share because they were non-dilutive. non-dilutive. Horizon has share-based employee compensation plans, which are described in the notes to the financial statements included in the December 31, 2017 Annual Report on Form 10-K. Adoption of New Accounting Standards Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The FASB has issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018-02 FASB ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The FASB has issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): not-for-profit The new guidance makes targeted improvements to existing U.S. GAAP by: • Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; • Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; • Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; • Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; • Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and • Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. In addition, the new guidance permits early adoption of the provision that exempts private companies and not-for-profit 2016-01 FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) The FASB has issued ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606). 2014-09 In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients In December 2016, the FASB issued ASU No. 2016-20, Revenue from Contracts with Customers (Topic 606): Technical Corrections and Improvements No. 2014-09 No. 2014-09. No. 2014-09. Revenue Recognition Accounting Standards Codification 606, “ Revenue from Contracts with Customers” non-interest • Service charges and fees on deposit accounts – these include general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer or overdraft activities. Revenue is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services. • Fiduciary activities – this includes periodic fees due from trust and wealth management customers for managing the customers’ financial assets. Fees are charged based on a standard agreement and are recognized as they are earned. Reclassifications Certain reclassifications have been made to the 2017 condensed consolidated financial statements to be comparable to 2018. These reclassifications had no effect on net income. |
Acquisitions
Acquisitions | 6 Months Ended |
Jun. 30, 2018 | |
Business Combinations [Abstract] | |
Acquisitions | Note 2 – Acquisitions Wolverine Bancorp, Inc. On October 17, 2017, Horizon completed the acquisition of Wolverine Bancorp, Inc., a Maryland corporation (“Wolverine”) and Horizon Bank’s acquisition of Wolverine Bank, a federally chartered savings bank and wholly-owned subsidiary of Wolverine, through mergers effective October 17, 2017. Under the terms of the Merger Agreement, shareholders of Wolverine received 1.5228 shares of Horizon common stock and $14.00 in cash for each outstanding share of Wolverine common stock. Wolverine shares outstanding at the closing to be exchanged were 2,129,331, and the shares of Horizon common stock issued to Wolverine shareholders totaled 3,241,045. Based upon the October 16, 2017 closing price of $19.37 per share of Horizon common stock immediately prior to the effectiveness of the merger, less the consideration used to pay off Wolverine Bancorp’s ESOP loan receivable, the transaction has an implied valuation of approximately $93.8 million. The Company incurred approximately $1.9 million in costs related to the acquisition. These expenses are classified in the non-interest Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions that are subject to change, the final purchase price for the Wolverine acquisition is allocated as follows: Assets Liabilities Cash and due from banks $ 44,450 Deposits Non-interest $ 25,221 Loans NOW accounts 8,026 Commercial 276,167 Savings and money market 129,044 Residential mortgage 30,603 Certificates of deposit 94,688 Consumer 3,897 Total deposits 256,979 Total loans 310,667 Premises and equipment, net 2,941 Borrowings 36,970 FRB and FHLB stock 2,700 Interest payable 214 Goodwill 26,827 Other liabilities 6,154 Core deposit intangible 2,024 Interest receivable 584 Other assets 3,897 Total assets purchased $ 394,090 Total liabilities assumed $ 300,317 Common shares issued $ 62,111 Cash paid 31,662 Total estimated purchase price $ 93,773 Of the total purchase price of $93.8 million, $2.0 million has been allocated to core deposit intangible. Additionally, $26.8 million has been allocated to goodwill and none of the purchase price is deductible. The core deposit intangible is being amortized over 10 years on a straight line basis. The Company acquired various loans in the acquisition that had evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. Loans purchased with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected are considered to be credit impaired. Evidence of credit quality deterioration as of the purchase date may include information such as past-due non-accrual loan-to-value 310-30) The following table details the acquired loans that are accounted for in accordance with ASC 310-30 Contractually required principal and interest at acquisition $ 21,912 Contractual cash flows not expected to be collected (nonaccretable differences) 1,832 Expected cash flows at acquisition 20,080 Interest component of expected cash flows (accretable discount) 2,267 Fair value of acquired loans accounted for under ASC 310-30 $ 17,813 Final estimates of certain loans, those for which specific credit-related deterioration, since origination, are recorded at fair value, reflecting the present value of the amounts expected to be collected. Income recognition of these loans is based on reasonable expectation about the timing and amount of cash flows to be collected. Lafayette Community Bancorp On September 1, 2017, Horizon completed the acquisition of Lafayette Community Bancorp, an Indiana corporation (“Lafayette”) and Horizon Bank’s acquisition of Lafayette Community Bank, a state-chartered bank and wholly-owned subsidiary of Lafayette, through mergers effective September 1, 2017. Under the terms of the Merger Agreement, shareholders of Lafayette received 0.8817 shares of Horizon common stock and $1.73 in cash for each outstanding share of Lafayette common stock. Lafayette shareholders owning fewer than 100 shares of common stock received $17.25 in cash for each common share. Lafayette shares outstanding at the closing to be exchanged were 1,856,679, and the shares of Horizon common stock issued to Lafayette shareholders totaled 1,636,888. Based upon the August 31, 2017 closing price of $17.45 per share of Horizon common stock immediately prior to the effectiveness of the merger, the transaction has an implied valuation of approximately $34.5 million. The Company incurred approximately $1.7 million in costs related to the acquisition. These expenses are classified in the non-interest Horizon held 5% ownership in Lafayette immediately preceding the merger date. In accordance with ASC 805-10 Under the acquisition method of accounting, the total purchase price is allocated to net tangible and intangible assets based on their current estimated fair values on the date of the acquisition. Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on assumptions that are subject to change, the purchase price for the Lafayette acquisition is detailed in the following table. Assets Liabilities Cash and due from banks $ 24,846 Deposits Investment securities, available for sale 6 Non-interest $ 34,990 NOW accounts 30,174 Loans Savings and money market 53,663 Commercial 116,258 Certificates of deposit 32,520 Residential mortgage 12,761 Total deposits 151,347 Consumer 5,280 Total loans 134,299 Premises and equipment, net 7,818 Interest payable 42 FHLB stock 395 Other liabilities 990 Goodwill 15,408 Core deposit intangible 2,085 Interest receivable 338 Other assets 1,649 Total assets purchased $ 186,844 Total liabilities assumed $ 152,379 Common shares issued $ 30,044 (1) Cash paid 4,421 Total estimated purchase price $ 34,465 (1) This includes $955,000 of common shares previously held by Horizone. Of the total estimated purchase price of $34.5 million, $2.1 million has been allocated to core deposit intangible. Additionally, $15.4 million has been allocated to goodwill and none of the purchase price is deductible. The core deposit intangible will be amortized over 10 years on a straight-line basis. The Company acquired various loans in the acquisition that had evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. Loans purchased with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected are considered to be credit impaired. Evidence of credit quality deterioration as of the purchase date may include information such as past-due non-accrual loan-to-value 310-30) The following table details an estimate of the acquired loans that are accounted for in accordance with ASC 310-30 Contractually required principal and interest at acquisition $ 6,128 Contractual cash flows not expected to be collected (nonaccretable differences) 1,326 Expected cash flows at acquisition 4,802 Interest component of expected cash flows (accretable discount) 933 Fair value of acquired loans accounted for under ASC 310-30 $ 3,869 Final estimates of certain loans, those for which specific credit-related deterioration, since origination, are recorded at fair value, reflecting the present value of the amounts expected to be collected. Income recognition of these loans is based on reasonable expectation about the timing and amount of cash flows to be collected. Bargersville Branch Purchase On February 3, 2017, Horizon completed the purchase and assumption of certain assets and liabilities of a single branch of First Farmers Bank & Trust Company, in Bargersville, Indiana. Net cash of $11.0 million was received in the transaction, representing the deposit balances assumed at closing, net of amounts paid for loans acquired in the transaction of $3.4 million and a 3.0% premium on deposits. Customer deposit balances were recorded at $14.8 million and a core deposit intangible of $452,000 was recorded in the transaction, which will be amortized over 10 years on a straight line basis. There was no goodwill generated in the transaction. The results of operations of Wolverine and Lafayette have been included in the Company’s consolidated financial statements since the acquisition dates. The following schedule includes pro-forma Three Months Ended Six Months Ended June 30 June 30 2017 2017 Summary of Operations: Net Interest Income $ 32,038 $ 62,164 Provision for Loan Losses (1,090 ) (1,337 ) Net Interest Income after Provision for Loan Losses 33,128 63,501 Non-interest 8,662 16,565 Non-interest 26,714 51,398 Income before Income Taxes 15,076 28,668 Income Tax Expense 4,549 8,412 Net Income 10,527 20,256 Net Income Available to Common Shareholders $ 10,527 $ 20,256 Basic Earnings per Share $ 0.32 $ 0.61 Diluted Earnings per Share $ 0.31 $ 0.60 The pro-forma The pro-forma |
Securities
Securities | 6 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Note 3 – Securities The fair value of securities is as follows: June 30, 2018 Amortized Gross Gross Fair Available for sale U.S. Treasury and federal agencies $ 24,654 $ — $ (435 ) $ 24,219 State and municipal 136,732 300 (2,051 ) 134,981 Federal agency collateralized mortgage obligations 168,382 112 (4,360 ) 164,134 Federal agency mortgage-backed pools 203,593 28 (6,626 ) 196,995 Private labeled mortgage-backed pools — — — — Corporate notes 5,725 145 (4 ) 5,866 Total available for sale investment securities $ 539,086 $ 585 $ (13,476 ) $ 526,195 Held to maturity State and municipal $ 190,079 $ 1,610 $ (4,309 ) $ 187,380 Federal agency collateralized mortgage obligations 5,409 8 (157 ) 5,260 Federal agency mortgage-backed pools 14,279 55 (244 ) 14,090 Total held to maturity investment securities $ 209,767 $ 1,673 $ (4,710 ) $ 206,730 December 31, 2017 Amortized Gross Gross Fair Available for sale U.S. Treasury and federal agencies $ 19,277 $ — $ (225 ) $ 19,052 State and municipal 148,045 2,189 (670 ) 149,564 Federal agency collateralized mortgage obligations 132,871 45 (2,551 ) 130,365 Federal agency mortgage-backed pools 211,487 155 (2,985 ) 208,657 Private labeled mortgage-backed pools 1,650 — (8 ) 1,642 Corporate notes 272 113 — 385 Total available for sale investment securities $ 513,602 $ 2,502 $ (6,439 ) $ 509,665 Held to maturity State and municipal $ 179,836 $ 3,493 $ (2,932 ) $ 180,397 Federal agency collateralized mortgage obligations 5,734 17 (69 ) 5,682 Federal agency mortgage-backed pools 14,878 216 (88 ) 15,006 Total held to maturity investment securities $ 200,448 $ 3,726 $ (3,089 ) $ 201,085 Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information, and information obtained from regulatory filings, management believes the declines in fair value for these securities are temporary. While these securities are held in the available for sale portfolio and held-to-maturity, Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. At June 30, 2018, no individual investment security had an unrealized loss that was determined to be other-than-temporary. The unrealized losses on the Company’s investments in securities of state and municipal governmental agencies, U.S. Treasury and federal agencies, federal agency collateralized mortgage obligations, and federal agency mortgage-backed pools were caused by interest rate volatility and not a decline in credit quality. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost basis of the investments. The Company expects to recover the amortized cost basis over the term of the securities. Because the Company does not intend to sell the investments and it is not likely that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be at maturity, the Company did not consider those investments to be other-than-temporarily impaired at June 30, 2018. The amortized cost and fair value of securities available for sale and held to maturity at June 30, 2018 and December 31, 2017, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. June 30, 2018 December 31, 2017 Amortized Fair Amortized Fair Available for sale Within one year $ 10,054 $ 10,013 $ 13,347 $ 13,326 One to five years 29,238 28,739 40,468 40,193 Five to ten years 80,973 79,937 50,473 51,156 After ten years 46,846 46,377 63,306 64,326 167,111 165,066 167,594 169,001 Federal agency collateralized mortgage obligations 168,382 164,134 132,871 130,365 Federal agency mortgage-backed pools 203,593 196,995 211,487 208,657 Private labeled mortgage-backed pools — — 1,650 1,642 Total available for sale investment securities $ 539,086 $ 526,195 $ 513,602 $ 509,665 Held to maturity Within one year $ 5,578 $ 5,546 $ 1,948 $ 1,934 One to five years 43,825 44,383 40,603 41,531 Five to ten years 103,804 103,252 89,801 91,249 After ten years 36,872 34,199 47,484 45,683 190,079 187,380 179,836 180,397 Federal agency collateralized mortgage obligations 5,409 5,260 5,734 5,682 Federal agency mortgage-backed pools 14,279 14,090 14,878 15,006 Total held to maturity investment securities $ 209,767 $ 206,730 $ 200,448 $ 201,085 The following table shows the gross unrealized losses and the fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2018 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Available for sale U.S. Treasury and federal agencies $ 20,387 $ (352 ) $ 3,832 $ (83 ) $ 24,219 $ (435 ) State and municipal 149,412 (4,495 ) 37,546 (1,865 ) 186,958 (6,360 ) Federal agency collateralized mortgage obligations 67,216 (1,507 ) 67,923 (3,010 ) 135,139 (4,517 ) Federal agency mortgage-backed pools 119,369 (3,073 ) 84,772 (3,797 ) 204,141 (6,870 ) Private labeled mortgage-backed pools — — — — — — Corporate notes 971 (4 ) — — 971 (4 ) Total temporarily impaired securities $ 357,355 $ (9,431 ) $ 194,073 $ (8,755 ) $ 551,428 $ (18,186 ) December 31, 2017 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Available for sale U.S. Treasury and federal agencies $ 15,882 $ (180 ) $ 2,870 $ (45 ) $ 18,752 $ (225 ) State and municipal 54,312 (2,758 ) 30,691 (844 ) 85,003 (3,602 ) Federal agency collateralized mortgage obligations 54,006 (589 ) 73,462 (2,031 ) 127,468 (2,620 ) Federal agency mortgage-backed pools 103,926 (1,019 ) 86,846 (2,054 ) 190,772 (3,073 ) Private labeled mortgage-backed pools 1,642 (8 ) — — 1,642 (8 ) Total temporarily impaired securities $ 229,768 $ (4,554 ) $ 193,869 $ (4,974 ) $ 423,637 $ (9,528 ) Information regarding security proceeds, gross gains and gross losses are presented below. Three Months Ended Six Months Ended June 30 June 30 2018 2017 2018 2017 Sales of securities available for sale Proceeds $ — $ 3,013 $ 9,836 $ 5,103 Gross gains — 110 37 145 Gross losses — (113 ) (26 ) (113 ) |
Loans
Loans | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Loans | Note 4 Loans June 30 December 31 2018 2017 Commercial Working capital and equipment $ 744,842 $ 720,477 Real estate, including agriculture 857,336 880,861 Tax exempt 36,857 36,324 Other 33,963 32,066 Total 1,672,998 1,669,728 Real estate 1-4 627,137 599,217 Other 7,499 7,543 Total 634,636 606,760 Consumer Auto 289,361 244,003 Recreation 13,158 8,728 Real estate/home improvement 38,096 37,052 Home equity 161,047 165,240 Unsecured 3,996 3,479 Other 2,208 2,497 Total 507,866 460,999 Mortgage warehouse 109,016 94,508 Total loans 2,924,516 2,831,995 Allowance for loan losses (17,071 ) (16,394 ) Loans, net $ 2,907,445 $ 2,815,601 Commercial Commercial loans are primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected, and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves larger loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets, the general economy or fluctuations in interest rates. The properties securing the Company’s commercial real estate portfolio are diverse in terms of property type, and are monitored for concentrations of credit. Management monitors and evaluates commercial real estate loans based on collateral, cash flow and risk grade criteria. As a general rule, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner Real Estate and Consumer With respect to residential loans that are secured by 1-4 loan-to-value 1-4 Mortgage Warehousing Horizon’s mortgage warehouse lending has specific mortgage companies as customers of Horizon Bank. Individual mortgage loans originated by these mortgage companies are funded as a secured borrowing with a pledge of collateral under Horizon’s agreement with the mortgage company. Each mortgage loan funded by Horizon undergoes an underwriting review by Horizon to the end investor guidelines and is assigned to Horizon until the loan is sold to the secondary market by the mortgage company. In addition, Horizon takes possession of each original note and forwards such note to the end investor once the mortgage company has sold the loan. At the time a loan is transferred to the secondary market, the mortgage company reacquires the loan under its option within the agreement. Due to the reacquire feature contained in the agreement, the transaction does not qualify as a sale and therefore is accounted for as a secured borrowing with a pledge of collateral pursuant to the agreement with the mortgage company. When the individual loan is sold to the end investor by the mortgage company, the proceeds from the sale of the loan are received by Horizon and used to pay off the loan balance with Horizon along with any accrued interest and any related fees. The remaining balance from the sale is forwarded to the mortgage company. These individual loans typically are sold by the mortgage company within 30 days and are seldom held more than 90 days. Interest income is accrued during this period and collected at the time each loan is sold. Fee income for each loan sold is collected when the loan is sold, and no costs are deferred due to the term between each loan funding and related payoff, which is typically less than 30 days. Based on the agreements with each mortgage company, at any time a mortgage company can reacquire from Horizon its outstanding loan balance on an individual mortgage and regain possession of the original note. Horizon also has the option to request that the mortgage company reacquire an individual mortgage. Should this occur, Horizon would return the original note and reassign the assignment of the mortgage to the mortgage company. Also, in the event that the end investor would not be able to honor the purchase commitment and the mortgage company would not be able to reacquire its loan on an individual mortgage, Horizon would be able to exercise its rights under the agreement. The following table shows the recorded investment of individual loan categories. June 30, 2018 Loan Interest Deferred Recorded Owner occupied real estate $ 591,273 $ 1,446 $ 2,000 $ 594,719 Non-owner 678,913 980 2,100 681,993 Residential spec homes 11,614 27 45 11,686 Development & spec land 34,384 97 28 34,509 Commercial and industrial 352,213 2,573 428 355,214 Total commercial 1,668,397 5,123 4,601 1,678,121 Residential mortgage 610,871 1,827 2,180 614,878 Residential construction 21,585 40 — 21,625 Mortgage warehouse 109,016 480 — 109,496 Total real estate 741,472 2,347 2,180 745,999 Direct installment 39,065 103 (576 ) 38,592 Indirect installment 276,317 607 — 276,924 Home equity 194,637 883 (1,577 ) 193,943 Total consumer 510,019 1,593 (2,153 ) 509,459 Total loans 2,919,888 9,063 4,628 2,933,579 Allowance for loan losses (17,071 ) — — (17,071 ) Net loans $ 2,902,817 $ 9,063 $ 4,628 $ 2,916,508 December 31, 2017 Loan Interest Deferred Recorded Owner occupied real estate $ 571,982 $ 1,511 $ 1,917 $ 575,410 Non-owner 678,945 1,138 2,478 682,561 Residential spec homes 16,431 63 80 16,574 Development & spec land 48,838 117 579 49,534 Commercial and industrial 347,871 2,572 607 351,050 Total commercial 1,664,067 5,401 5,661 1,675,129 Residential mortgage 588,358 1,776 2,375 592,509 Residential construction 16,027 39 — 16,066 Mortgage warehouse 94,508 480 — 94,988 Total real estate 698,893 2,295 2,375 703,563 Direct installment 37,841 113 (552 ) 37,402 Indirect installment 227,323 528 168 228,019 Home equity 197,578 889 (1,359 ) 197,108 Total consumer 462,742 1,530 (1,743 ) 462,529 Total loans 2,825,702 9,226 6,293 2,841,221 Allowance for loan losses (16,394 ) — — (16,394 ) Net loans $ 2,809,308 $ 9,226 $ 6,293 $ 2,824,827 |
Accounting for Certain Loans Ac
Accounting for Certain Loans Acquired in a Transfer | 6 Months Ended |
Jun. 30, 2018 | |
Transfers and Servicing [Abstract] | |
Accounting for Certain Loans Acquired in a Transfer | Note 5 – Accounting for Certain Loans Acquired in a Transfer The Company acquired loans in acquisitions and the transferred loans had evidence of deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected. Loans purchased with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected are considered to be credit impaired. Evidence of credit quality deterioration as of the purchase date may include information such as past-due non-accrual loan-to-value 310-30) The carrying amounts of those loans included in the balance sheet amounts of loans receivable are as follows: June 30, 2018 Commercial Real Consumer Outstanding Allowance Carrying Heartland $ 254 $ 193 $ — $ 447 $ — $ 447 Summit 3,301 592 — 3,893 — 3,893 Peoples 296 112 — 408 — 408 Kosciusko 791 207 — 998 — 998 LaPorte 855 974 30 1,859 — 1,859 Lafayette 3,481 — — 3,481 — 3,481 Wolverine 10,020 — — 10,020 — 10,020 Total $ 18,998 $ 2,078 $ 30 $ 21,106 $ — $ 21,106 December 31, 2017 Commercial Real Consumer Outstanding Allowance Carrying Heartland $ 390 $ 229 $ — $ 619 $ — $ 619 Summit 3,653 870 — 4,523 — 4,523 Peoples 315 126 — 441 — 441 Kosciusko 838 403 — 1,241 — 1,241 LaPorte 1,034 1,004 33 2,071 — 2,071 Lafayette 4,271 — — 4,271 — 4,271 Wolverine 16,697 — — 16,697 — 16,697 Total $ 27,198 $ 2,632 $ 33 $ 29,863 $ — $ 29,863 Accretable yield, or income expected to be collected for the six months ended June 30, is as follows: Six Months Ended June 30, 2018 Beginning Additions Accretion Reclassification Disposals Ending Heartland $ 452 $ — $ (68 ) $ — $ (193 ) $ 191 Summit 147 — (34 ) — (6 ) 107 Kosciusko 386 — (40 ) — — 346 LaPorte 980 — (75 ) — (7 ) 898 Lafayette 933 — (176 ) — (2 ) 755 Wolverine 2,267 — (538 ) — (680 ) 1,049 Total $ 5,165 $ — $ (931 ) $ — $ (888 ) $ 3,346 Six Months Ended June 30, 2017 Beginning Additions Accretion Reclassification Disposals Ending Heartland $ 557 $ — $ (67 ) $ — $ (6 ) $ 484 Summit 502 — (182 ) — (2 ) 318 Peoples 389 — (388 ) — (1 ) — Kosciusko 530 — (58 ) — (18 ) 454 LaPorte 1,479 — (150 ) — (153 ) 1,176 Total $ 3,457 $ — $ (845 ) $ — $ (180 ) $ 2,432 During the six months ended June 30, 2018 and 2017 the Company increased the allowance for loan losses on purchased loans by a charge to the income statement of $0 and $71,000, respectively. |
Allowance for Loan Losses
Allowance for Loan Losses | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Allowance for Loan Losses | Note 6 – Allowance for Loan Losses The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the prior one to five years. Management believes using the highest of the one, two or five-year historical loss experience is an appropriate methodology in the current economic environment, as it captures loss rates that are comparable to the current period being analyzed. The actual allowance for loan loss activity is provided below. Three Months Ended Six Months Ended June 30 June 30 2018 2017 2018 2017 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Balance at beginning of the period $ 16,474 $ 15,054 $ 16,394 $ 14,837 Loans charged-off: Commercial Owner occupied real estate — — 13 — Non-owner — — — — Residential spec homes — — — — Development & spec land — 1 — 1 Commercial and industrial — 254 — 259 Total commercial — 255 13 260 Real estate Residential mortgage 3 1 15 52 Residential construction — — — — Mortgage warehouse — — — — Total real estate 3 1 15 52 Consumer Direct installment 49 9 104 29 Indirect installment 365 323 870 608 Home equity — 21 131 71 Total consumer 414 353 1,105 708 Total loans charged-off 417 609 1,133 1,020 Recoveries of loans previously charged-off: Commercial Owner occupied real estate — 1 12 1 Non-owner 12 3 17 25 Residential spec homes 2 2 4 4 Development & spec land — — — — Commercial and industrial 26 30 58 141 Total commercial 40 36 91 171 Real estate Residential mortgage 5 9 11 22 Residential construction — — — — Mortgage warehouse — — — — Total real estate 5 9 11 22 Consumer Direct installment 21 16 32 32 Indirect installment 132 152 271 265 Home equity 181 39 203 60 Total consumer 334 207 506 357 Total loan recoveries 379 252 608 550 Net loans charged-off 38 357 525 470 Provision charged to operating expense Commercial 985 41 (306 ) 928 Real estate (117 ) 93 (369 ) (474 ) Consumer (233 ) 196 1,877 206 Total provision charged to operating expense 635 330 1,202 660 Balance at the end of the period $ 17,071 $ 15,027 $ 17,071 $ 15,027 Certain loans are individually evaluated for impairment, and the Company’s general practice is to proactively charge down impaired loans to the fair value of the underlying collateral, which is the appraised value less estimated selling costs. Consistent with regulatory guidance, charge-offs on all loan segments are taken when specific loans, or portions thereof, are considered uncollectible. The Company’s policy is to promptly charge these loans off in the period the uncollectible loss is reasonably determined. For all loan portfolio segments except 1-4 charges-off charge-off The Company charges-off 1-4 1-4 charges-off open-end The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment analysis: June 30, 2018 Commercial Real Mortgage Consumer Total Allowance For Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 184 $ — $ — $ — $ 184 Collectively evaluated for impairment 8,681 1,761 1,084 5,361 16,887 Loans acquired with deteriorated credit quality — — — — — Total ending allowance balance $ 8,865 $ 1,761 $ 1,084 $ 5,361 $ 17,071 Loans: Individually evaluated for impairment $ 8,999 $ — $ — $ — $ 8,999 Collectively evaluated for impairment 1,669,122 636,503 109,496 509,459 2,924,580 Loans acquired with deteriorated credit quality — — — — — Total ending loans balance $ 1,678,121 $ 636,503 $ 109,496 $ 509,459 $ 2,933,579 December 31, 2017 Commercial Real Mortgage Consumer Total Allowance For Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 184 $ — $ — $ — $ 184 Collectively evaluated for impairment 8,909 2,188 1,030 4,083 16,210 Loans acquired with deteriorated credit quality — — — — — Total ending allowance balance $ 9,093 $ 2,188 $ 1,030 $ 4,083 $ 16,394 Loans: Individually evaluated for impairment $ 7,187 $ — $ — $ — $ 7,187 Collectively evaluated for impairment 1,667,942 608,575 94,988 462,529 2,834,034 Loans acquired with deteriorated credit quality — — — — — Total ending loans balance $ 1,675,129 $ 608,575 $ 94,988 $ 462,529 $ 2,841,221 |
Non-performing Loans and Impair
Non-performing Loans and Impaired Loans | 6 Months Ended |
Jun. 30, 2018 | |
Text Block [Abstract] | |
Non-performing Loans and Impaired Loans | Note 7 – Non-performing The following table presents the non-accrual, June 30, 2018 Non-accrual Loans Past Non-peforming Performing Total Non-performing Commercial Owner occupied real estate $ 5,629 $ — $ — $ — $ 5,629 Non-owner 1,038 — 305 — 1,343 Residential spec homes — — — — — Development & spec land 72 — — — 72 Commercial and industrial 1,943 — — — 1,943 Total commercial 8,682 — 305 — 8,987 Real estate Residential mortgage 1,823 11 440 1,641 3,915 Residential construction — — — — — Mortgage warehouse — — — — — Total real estate 1,823 11 440 1,641 3,915 Consumer Direct installment 54 — — — 54 Direct installment purchased — — — — — Indirect installment 619 38 — — 657 Home equity 1,377 — 149 270 1,796 Total consumer 2,050 38 149 270 2,507 Total $ 12,555 $ 49 $ 894 $ 1,911 $ 15,409 December 31, 2017 Non-accrual Loans Past Non-peforming Performing Total Non-performing Commercial Owner occupied real estate $ 4,877 $ — $ 11 $ 1 $ 4,889 Non-owner 115 — 440 — 555 Residential spec homes — — — — — Development & spec land 176 — — — 176 Commercial and industrial 1,734 — — — 1,734 Total commercial 6,902 — 451 1 7,354 Real estate Residential mortgage 3,693 — 351 1,450 5,494 Residential construction — — — 222 222 Mortgage warehouse — — — — — Total real estate 3,693 — 351 1,672 5,716 Consumer Direct installment 160 — — — 160 Direct installment purchased — — — — — Indirect installment 1,041 167 — — 1,208 Home equity 1,480 — 211 285 1,976 Total consumer 2,681 167 211 285 3,344 Total $ 13,276 $ 167 $ 1,013 $ 1,958 $ 16,414 Included in the $12.6 million of non-accrual non-performing From time to time, the Bank obtains information that may lead management to believe that the collection of payments may be doubtful on a particular loan. In recognition of this, it is management’s policy to convert the loan from an “earning asset” to a non-accruing non-accrual non-accrual non-accrual Non-accrual non-accrual A loan becomes impaired when, based on current information, it is probable that a creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. When a loan is classified as impaired, the degree of impairment must be recognized by estimating future cash flows from the debtor. The present value of these cash flows is computed at a discount rate based on the interest rate contained in the loan agreement. However, if a particular loan has a determinable market value for its collateral, the creditor may use that value. Also, if the loan is secured and considered collateral dependent, the creditor may use the fair value of the collateral. Interest income on loans individually classified as impaired is recognized on a cash basis after all past due and current principal payments have been made. Smaller-balance, homogeneous loans are evaluated for impairment in total. Such loans include residential first mortgage loans secured by 1–4 family residences, residential construction loans, automobile, home equity, second mortgage loans and mortgage warehouse loans. Commercial loans and mortgage loans secured by other properties are evaluated individually for impairment. When analysis of borrower operating results and financial condition indicate that underlying cash flows of a borrower’s business are not adequate to meet its debt service requirements, the loan is evaluated for impairment. Often this is associated with a delay or shortfall in payments of 30 days or more. Loans are generally moved to non-accrual Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms, including TDRs, are measured for impairment. Allowable methods for determining the amount of impairment include the three methods described above. The Company’s TDRs are considered impaired loans and included in the allowance methodology using the guidance for impaired loans. At June 30, 2018, the type of concessions the Company has made on restructured loans has been temporary rate reductions and/or reductions in monthly payments and there have been no restructured loans with modified recorded balances. Any modification to a loan that is a concession and is not in the normal course of lending is considered a restructured loan. A restructured loan is returned to accruing status after six consecutive payments but is still reported as TDR unless the loan bears interest at a market rate. As of June 30, 2018, the Company had $2.8 million in TDRs and $1.9 million were performing according to the restructured terms and $32,000 in TDRs were returned to accrual status during the first six months of 2018. There were $70,000 specific reserves allocated to TDRs at June 30, 2018 based on the discounted cash flows or when appropriate the fair value of the collateral. The following table presents commercial loans individually evaluated for impairment by class of loan: June 30, 2018 Three Months Ended Six Months Ended Unpaid Recorded Allowance for Average Cash/Accrual Average Cash/Accrual With no recorded allowance Commercial Owner occupied real estate $ 4,765 $ 4,762 $ — $ 5,271 $ 59 $ 5,303 $ 96 Non-owner 1,344 1,360 — 1,591 5 1,559 10 Residential spec homes — — — — — — — Development & spec land 72 70 — 71 — 73 — Commercial and industrial 1,943 1,943 — 1,916 7 1,886 7 Total commercial 8,124 8,135 — 8,849 71 8,821 113 With an allowance recorded Commercial Owner occupied real estate 864 864 184 871 — 885 — Non-owner — — — — — — — Residential spec homes — — — — — — — Development & spec land — — — — — — — Commercial and industrial — — — — — — — Total commercial 864 864 184 871 — 885 — Total $ 8,988 $ 8,999 $ 184 $ 9,720 $ 71 $ 9,706 $ 113 June 30, 2017 Three Months Ended Six Months Ended Unpaid Recorded Allowance for Average Cash/Accrual Average Cash/Accrual With no recorded allowance Commercial Owner occupied real estate $ 1,591 $ 1,592 $ — $ 1,538 $ 22 $ 1,233 $ 22 Non-owner 467 467 — 471 2 432 2 Residential spec homes — — — — — — — Development & spec land 107 107 — 230 — 234 — Commercial and industrial 1,474 1,474 — 1,023 16 619 16 Total commercial 3,639 3,640 — 3,262 40 2,518 40 With an allowance recorded Commercial Owner occupied real estate — — — — — — — Non-owner — — — — — — — Residential spec homes — — — — — — — Development & spec land — — — — — — — Commercial and industrial — — — — — — — Total commercial — — — — — — — Total $ 3,639 $ 3,640 $ — $ 3,262 $ 40 $ 2,518 $ 40 The following table presents the payment status by class of loan: June 30, 2018 30-59 Days 60-89 Days 90 Days or Total Loans Not Total Commercial Owner occupied real estate $ 897 $ 138 $ — $ 1,035 $ 590,238 $ 591,273 Non-owner 42 895 — 937 677,976 678,913 Residential spec homes — — — — 11,614 11,614 Development & spec land — — — — 34,384 34,384 Commercial and industrial 175 966 — 1,141 351,072 352,213 Total commercial 1,114 1,999 — 3,113 1,665,284 1,668,397 Real estate Residential mortgage 822 302 11 1,135 609,736 610,871 Residential construction — — — — 21,585 21,585 Mortgage warehouse — — — — 109,016 109,016 Total real estate 822 302 11 1,135 740,337 741,472 Consumer Direct installment 78 26 — 104 38,961 39,065 Indirect installment 1,513 256 38 1,807 274,510 276,317 Home equity 451 30 — 481 194,156 194,637 Total consumer 2,042 312 38 2,392 507,627 510,019 Total $ 3,978 $ 2,613 $ 49 $ 6,640 $ 2,913,248 $ 2,919,888 Percentage of total loans 0.14 % 0.09 % 0.00 % 0.23 % 99.77 % December 31, 2017 30-59 60-89 90 Days or Total Loans Not Total Commercial Owner occupied real estate $ 1,613 $ 1,950 $ — $ 3,563 $ 568,419 $ 571,982 Non-owner 512 122 — 634 678,311 678,945 Residential spec homes — — — — 16,431 16,431 Development & spec land 31 — — 31 48,807 48,838 Commercial and industrial 520 1 — 521 347,350 347,871 Total commercial 2,676 2,073 — 4,749 1,659,318 1,664,067 Real estate Residential mortgage 1,248 49 — 1,297 587,061 588,358 Residential construction 63 — — 63 15,964 16,027 Mortgage warehouse — — — — 94,508 94,508 Total real estate 1,311 49 — 1,360 697,533 698,893 Consumer Direct installment 78 10 — 88 37,753 37,841 Indirect installment 1,859 244 167 2,270 225,053 227,323 Home equity 502 527 — 1,029 196,549 197,578 Total consumer 2,439 781 167 3,387 459,355 462,742 Total $ 6,426 $ 2,903 $ 167 $ 9,496 $ 2,816,206 $ 2,825,702 Percentage of total loans 0.23 % 0.10 % 0.01 % 0.34 % 99.66 % The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. Horizon Bank’s processes for determining credit quality differ slightly depending on whether a new loan or a renewed loan is being underwritten, or whether an existing loan is being re-evaluated • For new and renewed commercial loans, the Bank’s Credit Department, which acts independently of the loan officer, assigns the credit quality grade to the loan. Loan grades for loans with an aggregate credit exposure that exceeds the authorities in the respective markets (ranging from $1,000,000 to $3,500,000) are validated by the Loan Committee, which is chaired by the Chief Commercial Banking Officer (CCBO). • Commercial loan officers are responsible for reviewing their loan portfolios and reporting any adverse material change to the CCBO or Loan Committee. When circumstances warrant a change in the credit quality grade, loan officers are required to notify the CCBO and the Credit Department of the change in the loan grade. Downgrades are accepted immediately by the CCBO, however, lenders must present their factual information to either the Loan Committee or the CCBO when recommending an upgrade. • The CCBO, or his designee, meets weekly with loan officers to discuss the status of past-due • Monthly, senior management meets with the Watch Committee, which reviews all of the past due, classified, and impaired loans and the relative trends of these assets. This committee also reviews the actions taken by management regarding foreclosure mitigation, loan extensions, troubled debt restructures, other real estate owned and personal property repossessions. The information reviewed in this meeting acts as a precursor for developing management’s analysis of the adequacy of the Allowance for Loan and Lease Losses. For residential real estate and consumer loans, Horizon uses a grading system based on delinquency. Loans that are 90 days or more past due, on non-accrual, non-accrual. Horizon Bank employs a nine-grade rating system to determine the credit quality of commercial loans. The first five grades represent acceptable quality, and the last four grades mirror the criticized and classified grades used by the bank regulatory agencies (special mention, substandard, doubtful, and loss). The loan grade definitions are detailed below. Risk Grade 1: Excellent (Pass) Loans secured by liquid collateral, such as certificates of deposit, reputable bank letters of credit, or other cash equivalents; loans that are guaranteed or otherwise backed by the full faith and credit of the United States government or an agency thereof, such as the Small Business Administration; or loans to any publicly held company with a current long-term debt rating of A or better. Risk Grade 2: Good (Pass) Loans to businesses that have strong financial statements containing an unqualified opinion from a CPA firm and at least three consecutive years of profits; loans supported by unaudited financial statements containing strong balance sheets, five consecutive years of profits, a five-year satisfactory relationship with the Bank, and key balance sheet and income statement trends that are either stable or positive; loans secured by publicly traded marketable securities where there is no impediment to liquidation; loans to individuals backed by liquid personal assets and unblemished credit history; or loans to publicly held companies with current long-term debt ratings of Baa or better. Risk Grade 3: Satisfactory (Pass) Loans supported by financial statements (audited or unaudited) that indicate average or slightly below average risk and having some deficiency or vulnerability to changing economic conditions; loans with some weakness but offsetting features of other support are readily available; loans that are meeting the terms of repayment, but which may be susceptible to deterioration if adverse factors are encountered. Loans may be graded Satisfactory when there is no recent information on which to base a current risk evaluation and the following conditions apply: • At inception, the loan was properly underwritten, did not • At inception, the loan was secured with collateral possessing a loan value adequate to protect the Bank from loss. • The loan has exhibited two or more years of satisfactory repayment with a reasonable reduction of the principal balance. • During the period that the loan has been outstanding, there has been no evidence of any credit weakness. Some examples of weakness include slow payment, lack of cooperation by the borrower, breach of loan covenants, or the borrower is in an industry known to be experiencing problems. If any of these credit weaknesses is observed, a lower risk grade may be warranted. Risk Grade 4 Satisfactory/Monitored: Loans in this category are considered to be of acceptable credit quality, but contain greater credit risk than Satisfactory loans. Borrower displays acceptable liquidity, leverage, and earnings performance within the Bank’s minimum underwriting guidelines. The level of risk is acceptable but conditioned on the proper level of loan officer supervision. Loans that normally fall into this grade include acquisition, construction and development loans and income producing properties that have not reached stabilization. Risk Grade 4W Management Watch: Loans in this category are considered to be of acceptable quality, but with above normal risk. Borrower displays potential indicators of weakness in the primary source of repayment resulting in a higher reliance on secondary sources of repayment. Balance sheet may exhibit weak liquidity and/or high leverage. There is inconsistent earnings performance without the ability to sustain adverse economic conditions. Borrower may be operating in a declining industry or the property type, as for a commercial real estate loan, may be unstablized, high risk or in decline. These loans require an increased level of loan officer supervision and monitoring to assure that any deterioration is addressed in a timely fashion. Risk Grade 5: Special Mention Loans which possess some credit deficiency or potential weakness which deserves close attention. Such loans pose an unwarranted financial risk that, if not corrected, could weaken the loan by adversely impacting the future repayment ability of the borrower. The key distinctions of a Special Mention classification are that (1) it is indicative of an unwarranted level of risk and (2) weaknesses are considered “potential,” not “defined,” impairments to the primary source of repayment. These loans may be to borrowers with adverse trends in financial performance, collateral value and/or marketability, or balance sheet strength. Risk Grade 6: Substandard One or more of the following characteristics may be exhibited in loans classified Substandard: • Loans which possess a defined credit weakness. The likelihood that a loan will be paid from the primary source of repayment is uncertain. Financial deterioration is under way and very close attention is warranted to ensure that the loan is collected without loss. • Loans are inadequately protected by the current net worth and paying capacity of the obligor. • The primary source of repayment is gone, and the Bank is forced to rely on a secondary source of repayment, such as collateral liquidation or guarantees. • Loans have a distinct possibility that the Bank will sustain some loss if deficiencies are not corrected. • Unusual courses of action are needed to maintain a high probability of repayment. • The borrower is not generating enough cash flow to repay loan principal; however, it continues to make interest payments. • The lender is forced into a subordinated or unsecured position due to flaws in documentation. • Loans have been restructured so that payment schedules, terms, and collateral represent concessions to the borrower when compared to the normal loan terms. • The lender is seriously contemplating foreclosure or legal action due to the apparent deterioration in the loan. • There is a significant deterioration in market conditions to which the borrower is highly vulnerable. Risk Grade 7: Doubtful One or more of the following characteristics may be present in loans classified Doubtful: • Loans have all of the weaknesses of those classified as Substandard. However, based on existing conditions, these weaknesses make full collection of principal highly improbable. • The primary source of repayment is gone, and there is considerable doubt as to the quality of the secondary source of repayment. • The possibility of loss is high but because of certain important pending factors which may strengthen the loan, loss classification is deferred until the exact status of repayment is known. Risk Grade 8: Loss Loans are considered uncollectible and of such little value that continuing to carry them as assets is not feasible. Loans will be classified Loss when it is neither practical nor desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future. The following table presents loans by credit grades. June 30, 2018 Pass Special Substandard Doubtful Total Commercial Owner occupied real estate $ 569,089 $ 5,772 $ 16,412 $ — $ 591,273 Non-owner 667,031 5,888 5,994 — 678,913 Residential spec homes 11,614 — — — 11,614 Development & spec land 34,168 144 72 — 34,384 Commercial and industrial 335,442 4,719 12,052 — 352,213 Total commercial 1,617,344 16,523 34,530 — 1,668,397 Real estate Residential mortgage 606,967 — 3,904 — 610,871 Residential construction 21,585 — — — 21,585 Mortgage warehouse 109,016 — — — 109,016 Total real estate 737,568 — 3,904 — 741,472 Consumer Direct installment 39,011 — 54 — 39,065 Indirect installment 275,660 — 657 — 276,317 Home equity 192,841 — 1,796 — 194,637 Total consumer 507,512 — 2,507 — 510,019 Total $ 2,862,424 $ 16,523 $ 40,941 $ — $ 2,919,888 Percentage of total loans 98.03 % 0.57 % 1.40 % 0.00 % December 31, 2017 Pass Special Substandard Doubtful Total Commercial Owner occupied real estate $ 545,158 $ 8,622 $ 18,202 $ — $ 571,982 Non-owner 670,074 3,864 5,007 — 678,945 Residential spec homes 16,431 — — — 16,431 Development & spec land 47,726 886 226 — 48,838 Commercial and industrial 326,756 7,448 13,667 — 347,871 Total commercial 1,606,145 20,820 37,102 — 1,664,067 Real estate Residential mortgage 582,864 — 5,494 — 588,358 Residential construction 15,805 — 222 — 16,027 Mortgage warehouse 94,508 — — — 94,508 Total real estate 693,177 — 5,716 — 698,893 Consumer Direct installment 37,681 — 160 — 37,841 Indirect installment 226,115 — 1,208 — 227,323 Home equity 195,602 — 1,976 — 197,578 Total consumer 459,398 — 3,344 — 462,742 Total $ 2,758,720 $ 20,820 $ 46,162 $ — $ 2,825,702 Percentage of total loans 97.63 % 0.74 % 1.63 % 0.00 % |
Repurchase Agreements
Repurchase Agreements | 6 Months Ended |
Jun. 30, 2018 | |
Text Block [Abstract] | |
Repurchase Agreements | Note 8 – Repurchase Agreements The Company transfers various securities to customers in exchange for cash at the end of each business day and agrees to acquire the securities at the end of the next business day for the cash exchanged plus interest. The process is repeated at the end of each business day until the agreement is terminated. The securities underlying the agreement remained under the Bank’s control. The following table shows repurchase agreements accounted for as secured borrowings: June 30, 2018 Remaining Contractual Maturity of the Agreements Overnight Up to One Three Five Beyond Total Repurchase Agreements and repurchase-to-maturity Repurchase Agreements $ 43,702 $ — $ — $ — $ — $ — $ 43,702 Securities pledged for Repurchase Agreements Federal agency collateralized mortgage obligations $ 34,344 $ — $ — $ — $ — $ — $ 34,344 Federal agency mortgage-backed pools 31,208 — — — — — 31,208 Total $ 65,552 $ — $ — $ — $ — $ — $ 65,552 |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Note 9 – Derivative Financial Instruments Cash Flow Hedges As a strategy to maintain acceptable levels of exposure to the risk of changes in future cash flow due to interest rate fluctuations, the Company entered into interest rate swap agreements for a portion of its floating rate debt. The agreements provide for the Company to receive interest from the counterparty at three month LIBOR and to pay interest to the counterparty at a weighted average fixed rate of 5.81% on a notional amount of $30.5 million at June 30, 2018 and December 31, 2017. Under the agreements, the Company pays or receives the net interest amount monthly, with the monthly settlements included in interest expense. The Company assumed additional interest rate swap agreements as the result of the LaPorte acquisition in July 2016. The agreements provide for the Company to receive interest from the counterparty at one month LIBOR and to pay interest to the counterparty at a weighted average fixed rate of 2.31% on a notional amount of $30.0 million at June 30, 2018 and December 31, 2017. Under the agreements, the Company pays or receives the net interest amount monthly, with the monthly settlements included in interest expense. Management has designated the interest rate swap agreement as a cash flow hedging instrument. For derivative instruments that are designated and qualify as a cash flow hedge, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. At June 30, 2018, the Company’s cash flow hedge was effective and is not expected to have a significant impact on the Company’s net income over the next 12 months. Fair Value Hedges Fair value hedges are intended to reduce the interest rate risk associated with the underlying hedged item. The Company enters into fixed rate loan agreements as part of its lending policy. To mitigate the risk of changes in fair value based on fluctuations in interest rates, the Company has entered into interest rate swap agreements on individual loans, converting the fixed rate loans to a variable rate. For derivative instruments that are designated and qualify as a fair value hedge, the gain or loss on the derivative as well as the offsetting gain or loss on the hedged item attributable to the hedged risk are recognized in current earnings. At June 30, 2018, the Company’s fair value hedges were effective and are not expected to have a significant impact on the Company’s net income over the next 12 months. The change in fair value of both the hedge instruments and the underlying loan agreements are recorded as gains or losses in interest income. The fair value hedges are considered to be highly effective and any hedge ineffectiveness was deemed not material. The notional amounts of the loan agreements being hedged were $155.7 million at June 30, 2018 and $154.6 million at December 31, 2017. Other Derivative Instruments The Company enters into non-hedging The change in fair value of both the forward sale commitments and commitments to originate mortgage loans were recorded and the net gains or losses included in the Company’s gain on sale of loans. The following tables summarize the fair value of derivative financial instruments utilized by Horizon: Asset Derivatives Liability Derivatives June 30, 2018 June 30, 2018 Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest rate contracts Loans $ — Other liabilities $ 3,579 Interest rate contracts Other Assets 3,579 Other liabilities 969 Total derivatives desginated as hedging instruments 3,579 4,548 Derivatives not designated as hedging instruments Mortgage loan contracts Other assets 257 Other liabilities 4 Total derivatives not designated as hedging instruments 257 4 Total derivatives $ 3,836 $ 4,552 Asset Derivatives Liability Derivatives December 31, 2017 December 31, 2017 Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest rate contracts Loans $ — Other liabilities $ 811 Interest rate contracts Other Assets 811 Other liabilities 1,728 Total derivatives desginated as hedging instruments 811 2,539 Derivatives not designated as hedging instruments Mortgage loan contracts Other assets 143 Other liabilities 3 Total derivatives not designated as hedging instruments 143 3 Total derivatives $ 954 $ 2,542 The effect of the derivative instruments on the condensed consolidated statements of income for the three and six-month Amount of Loss Recognized in Other Comprehensive Income on Three Months Ended Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Derivatives in cash flow hedging relationship Interest rate contracts $ 279 $ 30 $ 879 $ 290 FASB Accounting Standards Codification (“ASC”) Topic 820-10-20 820-10-55 Location of gain (loss) Amount of Gain (Loss) Recognized on Derivative Three Months Six Months Ended June 30, June 30, June 30, June 30, Derivative in fair value hedging relationship Interest rate contracts Interest income - loans $ 2,768 $ 679 $ 574 $ 426 Interest rate contracts Interest income - loans (2,768 ) (679 ) (574 ) (426 ) Total $ — $ — $ — $ — Location of gain (loss) Amount of Gain (Loss) Recognized on Derivative Three Months Six Months Ended June 30, June 30, June 30, June 30, Derivative not designated as hedging relationship Mortgage contracts Other income - $ 112 $ (153 ) $ 195 $ (212 ) |
Disclosures about Fair Value of
Disclosures about Fair Value of Assets and Liabilities | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Disclosures about Fair Value of Assets and Liabilities | Note 10 – Disclosures about Fair Value of Assets and Liabilities The Fair Value Measurements topic of the FASB ASC defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. There are three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring basis and recognized in the accompanying condensed consolidated financial statements, as well as the general classification of such instruments pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the period ended June 30, 2018. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Available for sale securities When quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Level 2 securities include U.S. Treasury and federal agency securities, state and municipal securities, federal agency collateralized mortgage obligations and mortgage-backed pools and corporate notes. Level 2 securities are valued by a third party pricing service commonly used in the banking industry utilizing observable inputs. Observable inputs include dealer quotes, market spreads, cash flow analysis, the U.S. Treasury yield curve, trade execution data, market consensus prepayment spreads and available credit information and the bond’s terms and conditions. The pricing provider utilizes evaluated pricing models that vary based on asset class. These models incorporate available market information including quoted prices of securities with similar characteristics and, because many fixed-income securities do not trade on a daily basis, apply available information through processes such as benchmark curves, benchmarking of like securities, sector grouping, and matrix pricing. In addition, model processes, such as an option adjusted spread model, is used to develop prepayment and interest rate scenarios for securities with prepayment features. Hedged loans Certain fixed rate loans have been converted to variable rate loans by entering into interest rate swap agreements. The fair value of those fixed rate loans is based on discounting the estimated cash flows using interest rates determined by the respective interest rate swap agreement. Loans are classified within Level 2 of the valuation hierarchy based on the unobservable inputs used. Interest rate swap agreements The fair value of the Company’s interest rate swap agreements is estimated by a third party using inputs that are primarily unobservable including a yield curve, adjusted for liquidity and credit risk, contracted terms and discounted cash flow analysis, and therefore, are classified within Level 2 of the valuation hierarchy. The following table presents the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following: June 30, 2018 Fair Value Quoted Prices in Significant Significant Available for sale securities U.S. Treasury and federal agencies $ 24,219 $ — $ 24,219 $ — State and municipal 134,981 — 134,981 — Federal agency collateralized mortgage obligations 164,134 — 164,134 — Federal agency mortgage-backed pools 196,995 — 196,995 — Private labeled mortgage-backed pools — — — — Corporate notes 5,866 — 5,866 — Total available for sale securities 526,195 — 526,195 — Hedged loans 155,742 — 155,742 — Forward sale commitments 344 — 344 — Interest rate swap agreements 3,939 — 3,939 — Commitments to originate loans (21 ) — (21 ) — December 31, 2017 Fair Value Quoted Prices in Significant Significant Available for sale securities U.S. Treasury and federal agencies $ 19,052 $ — $ 19,052 $ — State and municipal 149,564 — 149,564 — Federal agency collateralized mortgage obligations 130,365 — 130,365 — Federal agency mortgage-backed pools 208,657 — 208,657 — Private labeled mortgage-backed pools 1,642 — 1,642 — Corporate notes 385 — 385 — Total available for sale securities 509,665 — 509,665 — Hedged loans 154,575 — 154,575 — Forward sale commitments 143 — 143 — Interest rate swap agreements (917 ) — (917 ) — Commitments to originate loans (3 ) — (3 ) — Realized gains and losses included in net income for the periods are reported in the condensed consolidated statements of income as follows: Non-interest Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Total gains and losses from: Hedged loans $ 976 $ 679 $ 3,744 $ 426 Fair value interest rate swap agreements (976 ) (679 ) (3,744 ) (426 ) Derivative loan commitments 71 (153 ) 183 (212 ) $ 71 $ (153 ) $ 183 $ (212 ) Certain other assets are measured at fair value on a non-recurring Fair Quoted Prices in Significant Significant June 30, 2018 Impaired loans $ 8,804 $ — $ — $ 8,804 Mortgage servicing rights 11,670 — — 11,670 December 31, 2017 Impaired loans $ 6,957 $ — $ — $ 6,957 Mortgage servicing rights 11,602 — — 11,602 Impaired (collateral dependent): If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Impaired loans that are collateral dependent are classified within Level 3 of the fair value hierarchy when impairment is determined using the fair value method. Mortgage Servicing Rights (MSRs): month-end The following table presents qualitative information about unobservable inputs used in recurring and non-recurring June 30, 2018 Fair Valuation Unobservable Range Value Technique Inputs (Weighted Average) Impaired loans $ 8,804 Collateral based measurement Discount to reflect current market 0%-54.8% (2.0%) Mortgage servicing rights 11,670 Discounted cash flows Discount rate, 10.3%-11.3% 8.3%-16.5% (8.6%), 0.1%-1.7% December 31, 2017 Fair Valuation Unobservable Range Value Technique Inputs (Weighted Average) Impaired loans $ 6,957 Collateral based measurement Discount to reflect current market 0%-46.8% Mortgage servicing rights 11,602 Discounted cash flows Discount rate, 9.6%-10.8% 9.2%-27.7% (10.5%), 0%-1.5% |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 11 – Fair Value of Financial Instruments The estimated fair value amounts of the Company’s financial instruments were determined using available market information, current pricing information applicable to Horizon and various valuation methodologies. Where market quotations were not available, considerable management judgment was involved in the determination of estimated fair values. Therefore, the estimated fair value of financial instruments shown below may not be representative of the amounts at which they could be exchanged in a current or future transaction. Due to the inherent uncertainties of expected cash flows of financial instruments, the use of alternate valuation assumptions and methods could have a significant effect on the estimated fair value amounts. The estimated fair values of financial instruments, as shown below, are not intended to reflect the estimated liquidation or market value of Horizon taken as a whole. The disclosed fair value estimates are limited to Horizon’s significant financial instruments at June 30, 2018 and December 31, 2017. These include financial instruments recognized as assets and liabilities on the condensed consolidated balance sheet as well as certain off-balance The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and Due from Banks Held-to-Maturity Loans Held for Sale Net Loans FHLB and FRB Stock Interest Receivable/Payable Deposits Borrowings Subordinated Debentures Commitments to Extend Credit and Standby Letters of Credit The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall (unaudited). June 30, 2018 Carrying Quoted Prices in Significant Significant Assets Cash and due from banks $ 69,018 $ 69,018 $ — $ — Investment securities, held to maturity 209,767 — 206,730 — Loans held for sale 3,000 — — 3,000 Loans (excluding loan level hedges), net 2,751,703 — — 2,585,501 Stock in FHLB 18,105 — 18,105 — Interest receivable 12,993 — 12,993 — Liabilities Non-interest $ 615,018 $ 615,018 $ — $ — Interest bearing deposits 2,401,145 — 2,263,817 — Borrowings 524,846 — 520,701 — Subordinated debentures 37,745 — 35,682 — Interest payable 1,441 — 1,441 — December 31, 2017 Carrying Quoted Prices in Significant Significant Assets Cash and due from banks $ 76,441 $ 76,441 $ — $ — Investment securities, held to maturity 200,448 — 201,085 — Loans held for sale 3,094 — — 3,094 Loans (excluding loan level hedges), net 2,661,026 — — 2,585,879 Stock in FHLB 18,105 — 18,105 — Interest receivable 16,244 — 16,244 — Liabilities Non-interest $ 601,805 $ 601,805 $ — $ — Interest bearing deposits 2,279,198 — 2,156,487 — Borrowings 564,157 — 560,057 — Subordinated debentures 37,653 — 35,994 — Interest payable 886 — 886 — |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income | Note 12 – Accumulated Other Comprehensive Income June 30 December 31 2018 2017 Unrealized loss on securities available for sale $ (12,891 ) $ (3,937 ) Unamortized gain on securities held to maturity, previously transferred from AFS 102 200 Unrealized loss on derivative instruments (615 ) (1,728 ) Tax effect 2,817 1,914 Total accumulated other comprehensive loss $ (10,587 ) $ (3,551 ) |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Jun. 30, 2018 | |
Banking and Thrift [Abstract] | |
Regulatory Capital | Note 13 – Regulatory Capital Horizon and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies and are assigned to a capital category. Failure to meet the minimum regulatory capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators, which if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective actions, the Bank must meet specific capital guidelines involving quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined), or leverage ratio. For June 30, 2018, Basel III rules require the Bank to maintain minimum amounts and ratios of common equity Tier I capital (as defined in the regulation) to risk-weighted assets (as defined). Additionally, under Basel III rules, the decision was made to opt-out To be categorized as well capitalized, the Bank must maintain minimum Total risk-based, Tier I risk-based, common equity Tier I risk-based and Tier I leverage ratios as set forth in the table below. As of June 30, 2018 and December 31, 2017, the Bank met all capital adequacy requirements to be considered well capitalized. There have been no conditions or events since the end of the first quarter of 2018 that management believes have changed the Bank’s classification as well capitalized. There is no threshold for well-capitalized status for bank holding companies. Horizon and the Bank’s actual and required capital ratios as of June 30, 2018 and December 31, 2017 were as follows: Actual Required for Capital 1 Required For Capital 1 Well Capitalized Under 1 Amount Ratio Amount Ratio Amount Ratio Amount Ratio June 30, 2018 Total capital 1 Consolidated $ 403,480 13.07 % 246,952 8.00 % 285,539 9.25 % N/A N/A Bank 392,814 12.77 % 246,109 8.00 % 284,563 9.25 % $ 307,636 10.00 % Tier 1 capital 1 Consolidated 386,409 12.52 % 185,214 6.00 % 223,800 7.25 % N/A N/A Bank 375,684 12.21 % 184,581 6.00 % 223,035 7.25 % 246,108 8.00 % Common equity tier 1 capital 1 Consolidated 347,946 11.27 % 138,910 4.50 % 177,497 5.75 % N/A N/A Bank 375,684 12.21 % 138,436 4.50 % 176,890 5.75 % 199,963 6.50 % Tier 1 capital 1 Consolidated 386,409 9.94 % 155,556 4.00 % 155,556 4.00 % N/A N/A Bank 375,684 9.65 % 155,805 4.00 % 155,805 4.00 % 194,756 5.00 % December 31, 2017 Total capital 1 Consolidated $ 384,800 12.91 % $ 238,543 8.00 % $ 275,816 9.25 % N/A N/A Bank 382,788 12.85 % 238,386 8.00 % 275,634 9.25 % $ 297,982 10.00 % Tier 1 capital 1 Consolidated 368,355 12.35 % 178,907 6.00 % 216,180 7.25 % N/A N/A Bank 366,343 12.29 % 178,790 6.00 % 216,038 7.25 % 238,386 8.00 % Common equity tier 1 capital 1 Consolidated 329,892 11.06 % 134,181 4.50 % 171,454 5.75 % N/A N/A Bank 366,343 12.29 % 134,092 4.50 % 171,340 5.75 % 193,689 6.50 % Tier 1 capital 1 Consolidated 368,355 9.92 % 148,503 4.00 % 148,503 4.00 % N/A N/A Bank 366,343 9.89 % 148,116 4.00 % 148,116 4.00 % 185,145 5.00 % |
Future Accounting Matters
Future Accounting Matters | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Future Accounting Matters | Note 14 – Future Accounting Matters Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities The FASB has issued ASU No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities FASB ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The FASB has issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. FASB ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The FASB has issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. available-for-sale one-time one-time FASB Accounting Standards Updates No. 2016-02, Leases (Topic 842) The FASB has issued Accounting Standards Update (ASU) No. 2016-02, Leases. right-of-use |
General Litigation
General Litigation | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
General Litigation | Note 15 – General Litigation The Company is subject to claims and lawsuits that arise primarily in the ordinary course of business. It is the opinion of management that the disposition or ultimate resolution of such claims and lawsuits will not have a material adverse effect on the consolidated financial position, results of operation and cash flows of the Company. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Earnings Per Share | Basic earnings per share is computed by dividing net income available to common shareholders (net income less dividend requirements for preferred stock and accretion of preferred stock discount) by the weighted-average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The following table shows computation of basic and diluted earnings per share. Three Months Ended Six Months Ended June 30 June 30 2018 2017 2018 2017 Basic earnings per share Net income $ 14,115 $ 9,072 $ 26,919 $ 17,296 Weighted average common shares outstanding (1) 38,347,612 33,264,697 38,327,118 33,263,997 Basic earnings per share $ 0.37 $ 0.27 $ 0.70 $ 0.52 Diluted earnings per share Net income available to common shareholders $ 14,115 $ 9,072 $ 26,919 $ 17,296 Weighted average common shares outstanding (1) 38,347,612 33,264,697 38,327,118 33,263,997 Effect of dilutive securities: Restricted stock 47,307 45,136 37,383 49,807 Stock options 124,482 173,751 119,820 172,975 Weighted average common shares outstanding 38,519,401 33,483,584 38,484,321 33,486,779 $ 0.37 $ 0.27 $ 0.70 $ 0.51 (1) adjusted for 3:2 stock split on June 15, 2018 There were zero shares for the three months ended June 30, 2018 and 2017, respectively, which were not included in the computation of diluted earnings per share because they were non-dilutive. non-dilutive. Horizon has share-based employee compensation plans, which are described in the notes to the financial statements included in the December 31, 2017 Annual Report on Form 10-K. |
Adoption of New Accounting Standards | Adoption of New Accounting Standards Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income The FASB has issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income 2018-02 FASB ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The FASB has issued ASU No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): not-for-profit The new guidance makes targeted improvements to existing U.S. GAAP by: • Requiring equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; • Requiring public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; • Requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; • Eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; • Eliminating the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and • Requiring a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance is effective for public companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The new guidance permits early adoption of the own credit provision. In addition, the new guidance permits early adoption of the provision that exempts private companies and not-for-profit 2016-01 FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) The FASB has issued ASU No. 2014-09 Revenue from Contracts with Customers (Topic 606). 2014-09 In May 2016, the FASB issued ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients In December 2016, the FASB issued ASU No. 2016-20, Revenue from Contracts with Customers (Topic 606): Technical Corrections and Improvements No. 2014-09 No. 2014-09. No. 2014-09. |
Revenue Recognition | Revenue Recognition Accounting Standards Codification 606, “ Revenue from Contracts with Customers” non-interest • Service charges and fees on deposit accounts – these include general service fees charged for deposit account maintenance and activity and transaction-based fees charged for certain services, such as debit card, wire transfer or overdraft activities. Revenue is recognized when the performance obligation is completed, which is generally after a transaction is completed or monthly for account maintenance services. • Fiduciary activities – this includes periodic fees due from trust and wealth management customers for managing the customers’ financial assets. Fees are charged based on a standard agreement and are recognized as they are earned. |
Reclassifications | Reclassifications Certain reclassifications have been made to the 2017 condensed consolidated financial statements to be comparable to 2018. These reclassifications had no effect on net income. |
Accounting Policies (Tables)
Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Computation of Basic and Diluted Earnings Per Share | The following table shows computation of basic and diluted earnings per share. Three Months Ended Six Months Ended June 30 June 30 2018 2017 2018 2017 Basic earnings per share Net income $ 14,115 $ 9,072 $ 26,919 $ 17,296 Weighted average common shares outstanding (1) 38,347,612 33,264,697 38,327,118 33,263,997 Basic earnings per share $ 0.37 $ 0.27 $ 0.70 $ 0.52 Diluted earnings per share Net income available to common shareholders $ 14,115 $ 9,072 $ 26,919 $ 17,296 Weighted average common shares outstanding (1) 38,347,612 33,264,697 38,327,118 33,263,997 Effect of dilutive securities: Restricted stock 47,307 45,136 37,383 49,807 Stock options 124,482 173,751 119,820 172,975 Weighted average common shares outstanding 38,519,401 33,483,584 38,484,321 33,486,779 $ 0.37 $ 0.27 $ 0.70 $ 0.51 (1) adjusted for 3:2 stock split on June 15, 2018 |
Acquisitions (Tables)
Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Pro Forma Result of Comparable Prior Reporting Period | The following schedule includes pro-forma Three Months Ended Six Months Ended June 30 June 30 2017 2017 Summary of Operations: Net Interest Income $ 32,038 $ 62,164 Provision for Loan Losses (1,090 ) (1,337 ) Net Interest Income after Provision for Loan Losses 33,128 63,501 Non-interest 8,662 16,565 Non-interest 26,714 51,398 Income before Income Taxes 15,076 28,668 Income Tax Expense 4,549 8,412 Net Income 10,527 20,256 Net Income Available to Common Shareholders $ 10,527 $ 20,256 Basic Earnings per Share $ 0.32 $ 0.61 Diluted Earnings per Share $ 0.31 $ 0.60 |
Wolverine Bancorp Inc [Member] | |
Schedule of Purchase Price of Assets Acquired and Liabilities Assumed | Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on estimates and assumptions that are subject to change, the final purchase price for the Wolverine acquisition is allocated as follows: Assets Liabilities Cash and due from banks $ 44,450 Deposits Non-interest $ 25,221 Loans NOW accounts 8,026 Commercial 276,167 Savings and money market 129,044 Residential mortgage 30,603 Certificates of deposit 94,688 Consumer 3,897 Total deposits 256,979 Total loans 310,667 Premises and equipment, net 2,941 Borrowings 36,970 FRB and FHLB stock 2,700 Interest payable 214 Goodwill 26,827 Other liabilities 6,154 Core deposit intangible 2,024 Interest receivable 584 Other assets 3,897 Total assets purchased $ 394,090 Total liabilities assumed $ 300,317 Common shares issued $ 62,111 Cash paid 31,662 Total estimated purchase price $ 93,773 |
Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30 | The following table details the acquired loans that are accounted for in accordance with ASC 310-30 Contractually required principal and interest at acquisition $ 21,912 Contractual cash flows not expected to be collected (nonaccretable differences) 1,832 Expected cash flows at acquisition 20,080 Interest component of expected cash flows (accretable discount) 2,267 Fair value of acquired loans accounted for under ASC 310-30 $ 17,813 |
Lafayette Community Bancorp [Member] | |
Schedule of Purchase Price of Assets Acquired and Liabilities Assumed | Based on preliminary valuations of the fair value of tangible and intangible assets acquired and liabilities assumed, which are based on assumptions that are subject to change, the purchase price for the Lafayette acquisition is detailed in the following table. Assets Liabilities Cash and due from banks $ 24,846 Deposits Investment securities, available for sale 6 Non-interest $ 34,990 NOW accounts 30,174 Loans Savings and money market 53,663 Commercial 116,258 Certificates of deposit 32,520 Residential mortgage 12,761 Total deposits 151,347 Consumer 5,280 Total loans 134,299 Premises and equipment, net 7,818 Interest payable 42 FHLB stock 395 Other liabilities 990 Goodwill 15,408 Core deposit intangible 2,085 Interest receivable 338 Other assets 1,649 Total assets purchased $ 186,844 Total liabilities assumed $ 152,379 Common shares issued $ 30,044 (1) Cash paid 4,421 Total estimated purchase price $ 34,465 (1) This includes $955,000 of common shares previously held by Horizone. |
Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30 | The following table details an estimate of the acquired loans that are accounted for in accordance with ASC 310-30 Contractually required principal and interest at acquisition $ 6,128 Contractual cash flows not expected to be collected (nonaccretable differences) 1,326 Expected cash flows at acquisition 4,802 Interest component of expected cash flows (accretable discount) 933 Fair value of acquired loans accounted for under ASC 310-30 $ 3,869 |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Fair Value of Securities | The fair value of securities is as follows: June 30, 2018 Amortized Gross Gross Fair Available for sale U.S. Treasury and federal agencies $ 24,654 $ — $ (435 ) $ 24,219 State and municipal 136,732 300 (2,051 ) 134,981 Federal agency collateralized mortgage obligations 168,382 112 (4,360 ) 164,134 Federal agency mortgage-backed pools 203,593 28 (6,626 ) 196,995 Private labeled mortgage-backed pools — — — — Corporate notes 5,725 145 (4 ) 5,866 Total available for sale investment securities $ 539,086 $ 585 $ (13,476 ) $ 526,195 Held to maturity State and municipal $ 190,079 $ 1,610 $ (4,309 ) $ 187,380 Federal agency collateralized mortgage obligations 5,409 8 (157 ) 5,260 Federal agency mortgage-backed pools 14,279 55 (244 ) 14,090 Total held to maturity investment securities $ 209,767 $ 1,673 $ (4,710 ) $ 206,730 December 31, 2017 Amortized Gross Gross Fair Available for sale U.S. Treasury and federal agencies $ 19,277 $ — $ (225 ) $ 19,052 State and municipal 148,045 2,189 (670 ) 149,564 Federal agency collateralized mortgage obligations 132,871 45 (2,551 ) 130,365 Federal agency mortgage-backed pools 211,487 155 (2,985 ) 208,657 Private labeled mortgage-backed pools 1,650 — (8 ) 1,642 Corporate notes 272 113 — 385 Total available for sale investment securities $ 513,602 $ 2,502 $ (6,439 ) $ 509,665 Held to maturity State and municipal $ 179,836 $ 3,493 $ (2,932 ) $ 180,397 Federal agency collateralized mortgage obligations 5,734 17 (69 ) 5,682 Federal agency mortgage-backed pools 14,878 216 (88 ) 15,006 Total held to maturity investment securities $ 200,448 $ 3,726 $ (3,089 ) $ 201,085 |
Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity | The amortized cost and fair value of securities available for sale and held to maturity at June 30, 2018 and December 31, 2017, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. June 30, 2018 December 31, 2017 Amortized Fair Amortized Fair Available for sale Within one year $ 10,054 $ 10,013 $ 13,347 $ 13,326 One to five years 29,238 28,739 40,468 40,193 Five to ten years 80,973 79,937 50,473 51,156 After ten years 46,846 46,377 63,306 64,326 167,111 165,066 167,594 169,001 Federal agency collateralized mortgage obligations 168,382 164,134 132,871 130,365 Federal agency mortgage-backed pools 203,593 196,995 211,487 208,657 Private labeled mortgage-backed pools — — 1,650 1,642 Total available for sale investment securities $ 539,086 $ 526,195 $ 513,602 $ 509,665 Held to maturity Within one year $ 5,578 $ 5,546 $ 1,948 $ 1,934 One to five years 43,825 44,383 40,603 41,531 Five to ten years 103,804 103,252 89,801 91,249 After ten years 36,872 34,199 47,484 45,683 190,079 187,380 179,836 180,397 Federal agency collateralized mortgage obligations 5,409 5,260 5,734 5,682 Federal agency mortgage-backed pools 14,279 14,090 14,878 15,006 Total held to maturity investment securities $ 209,767 $ 206,730 $ 200,448 $ 201,085 |
Gross Unrealized Losses and Fair Value of Company's Investments | The following table shows the gross unrealized losses and the fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position. June 30, 2018 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Available for sale U.S. Treasury and federal agencies $ 20,387 $ (352 ) $ 3,832 $ (83 ) $ 24,219 $ (435 ) State and municipal 149,412 (4,495 ) 37,546 (1,865 ) 186,958 (6,360 ) Federal agency collateralized mortgage obligations 67,216 (1,507 ) 67,923 (3,010 ) 135,139 (4,517 ) Federal agency mortgage-backed pools 119,369 (3,073 ) 84,772 (3,797 ) 204,141 (6,870 ) Private labeled mortgage-backed pools — — — — — — Corporate notes 971 (4 ) — — 971 (4 ) Total temporarily impaired securities $ 357,355 $ (9,431 ) $ 194,073 $ (8,755 ) $ 551,428 $ (18,186 ) December 31, 2017 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Available for sale U.S. Treasury and federal agencies $ 15,882 $ (180 ) $ 2,870 $ (45 ) $ 18,752 $ (225 ) State and municipal 54,312 (2,758 ) 30,691 (844 ) 85,003 (3,602 ) Federal agency collateralized mortgage obligations 54,006 (589 ) 73,462 (2,031 ) 127,468 (2,620 ) Federal agency mortgage-backed pools 103,926 (1,019 ) 86,846 (2,054 ) 190,772 (3,073 ) Private labeled mortgage-backed pools 1,642 (8 ) — — 1,642 (8 ) Total temporarily impaired securities $ 229,768 $ (4,554 ) $ 193,869 $ (4,974 ) $ 423,637 $ (9,528 ) |
Sales of Securities Available for Sale | Information regarding security proceeds, gross gains and gross losses are presented below. Three Months Ended Six Months Ended June 30 June 30 2018 2017 2018 2017 Sales of securities available for sale Proceeds $ — $ 3,013 $ 9,836 $ 5,103 Gross gains — 110 37 145 Gross losses — (113 ) (26 ) (113 ) |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Amounts of Loans | June 30 December 31 2018 2017 Commercial Working capital and equipment $ 744,842 $ 720,477 Real estate, including agriculture 857,336 880,861 Tax exempt 36,857 36,324 Other 33,963 32,066 Total 1,672,998 1,669,728 Real estate 1-4 627,137 599,217 Other 7,499 7,543 Total 634,636 606,760 Consumer Auto 289,361 244,003 Recreation 13,158 8,728 Real estate/home improvement 38,096 37,052 Home equity 161,047 165,240 Unsecured 3,996 3,479 Other 2,208 2,497 Total 507,866 460,999 Mortgage warehouse 109,016 94,508 Total loans 2,924,516 2,831,995 Allowance for loan losses (17,071 ) (16,394 ) Loans, net $ 2,907,445 $ 2,815,601 |
Recorded Investment of Individual Loan Categories | The following table shows the recorded investment of individual loan categories. June 30, 2018 Loan Interest Deferred Recorded Owner occupied real estate $ 591,273 $ 1,446 $ 2,000 $ 594,719 Non-owner 678,913 980 2,100 681,993 Residential spec homes 11,614 27 45 11,686 Development & spec land 34,384 97 28 34,509 Commercial and industrial 352,213 2,573 428 355,214 Total commercial 1,668,397 5,123 4,601 1,678,121 Residential mortgage 610,871 1,827 2,180 614,878 Residential construction 21,585 40 — 21,625 Mortgage warehouse 109,016 480 — 109,496 Total real estate 741,472 2,347 2,180 745,999 Direct installment 39,065 103 (576 ) 38,592 Indirect installment 276,317 607 — 276,924 Home equity 194,637 883 (1,577 ) 193,943 Total consumer 510,019 1,593 (2,153 ) 509,459 Total loans 2,919,888 9,063 4,628 2,933,579 Allowance for loan losses (17,071 ) — — (17,071 ) Net loans $ 2,902,817 $ 9,063 $ 4,628 $ 2,916,508 December 31, 2017 Loan Interest Deferred Recorded Owner occupied real estate $ 571,982 $ 1,511 $ 1,917 $ 575,410 Non-owner 678,945 1,138 2,478 682,561 Residential spec homes 16,431 63 80 16,574 Development & spec land 48,838 117 579 49,534 Commercial and industrial 347,871 2,572 607 351,050 Total commercial 1,664,067 5,401 5,661 1,675,129 Residential mortgage 588,358 1,776 2,375 592,509 Residential construction 16,027 39 — 16,066 Mortgage warehouse 94,508 480 — 94,988 Total real estate 698,893 2,295 2,375 703,563 Direct installment 37,841 113 (552 ) 37,402 Indirect installment 227,323 528 168 228,019 Home equity 197,578 889 (1,359 ) 197,108 Total consumer 462,742 1,530 (1,743 ) 462,529 Total loans 2,825,702 9,226 6,293 2,841,221 Allowance for loan losses (16,394 ) — — (16,394 ) Net loans $ 2,809,308 $ 9,226 $ 6,293 $ 2,824,827 |
Loans Purchased With Evidence of Credit Deterioration [Member] | |
Amounts of Loans | The carrying amounts of those loans included in the balance sheet amounts of loans receivable are as follows: June 30, 2018 Commercial Real Consumer Outstanding Allowance Carrying Heartland $ 254 $ 193 $ — $ 447 $ — $ 447 Summit 3,301 592 — 3,893 — 3,893 Peoples 296 112 — 408 — 408 Kosciusko 791 207 — 998 — 998 LaPorte 855 974 30 1,859 — 1,859 Lafayette 3,481 — — 3,481 — 3,481 Wolverine 10,020 — — 10,020 — 10,020 Total $ 18,998 $ 2,078 $ 30 $ 21,106 $ — $ 21,106 December 31, 2017 Commercial Real Consumer Outstanding Allowance Carrying Heartland $ 390 $ 229 $ — $ 619 $ — $ 619 Summit 3,653 870 — 4,523 — 4,523 Peoples 315 126 — 441 — 441 Kosciusko 838 403 — 1,241 — 1,241 LaPorte 1,034 1,004 33 2,071 — 2,071 Lafayette 4,271 — — 4,271 — 4,271 Wolverine 16,697 — — 16,697 — 16,697 Total $ 27,198 $ 2,632 $ 33 $ 29,863 $ — $ 29,863 |
Accounting for Certain Loans 30
Accounting for Certain Loans Acquired in a Transfer (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Transfers and Servicing [Abstract] | |
Accretable Yield or Income Expected to be Collected | Accretable yield, or income expected to be collected for the six months ended June 30, is as follows: Six Months Ended June 30, 2018 Beginning Additions Accretion Reclassification Disposals Ending Heartland $ 452 $ — $ (68 ) $ — $ (193 ) $ 191 Summit 147 — (34 ) — (6 ) 107 Kosciusko 386 — (40 ) — — 346 LaPorte 980 — (75 ) — (7 ) 898 Lafayette 933 — (176 ) — (2 ) 755 Wolverine 2,267 — (538 ) — (680 ) 1,049 Total $ 5,165 $ — $ (931 ) $ — $ (888 ) $ 3,346 Six Months Ended June 30, 2017 Beginning Additions Accretion Reclassification Disposals Ending Heartland $ 557 $ — $ (67 ) $ — $ (6 ) $ 484 Summit 502 — (182 ) — (2 ) 318 Peoples 389 — (388 ) — (1 ) — Kosciusko 530 — (58 ) — (18 ) 454 LaPorte 1,479 — (150 ) — (153 ) 1,176 Total $ 3,457 $ — $ (845 ) $ — $ (180 ) $ 2,432 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Allowance for Loan Losses | The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Company over the prior one to five years. Management believes using the highest of the one, two or five-year historical loss experience is an appropriate methodology in the current economic environment, as it captures loss rates that are comparable to the current period being analyzed. The actual allowance for loan loss activity is provided below. Three Months Ended Six Months Ended June 30 June 30 2018 2017 2018 2017 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Balance at beginning of the period $ 16,474 $ 15,054 $ 16,394 $ 14,837 Loans charged-off: Commercial Owner occupied real estate — — 13 — Non-owner — — — — Residential spec homes — — — — Development & spec land — 1 — 1 Commercial and industrial — 254 — 259 Total commercial — 255 13 260 Real estate Residential mortgage 3 1 15 52 Residential construction — — — — Mortgage warehouse — — — — Total real estate 3 1 15 52 Consumer Direct installment 49 9 104 29 Indirect installment 365 323 870 608 Home equity — 21 131 71 Total consumer 414 353 1,105 708 Total loans charged-off 417 609 1,133 1,020 Recoveries of loans previously charged-off: Commercial Owner occupied real estate — 1 12 1 Non-owner 12 3 17 25 Residential spec homes 2 2 4 4 Development & spec land — — — — Commercial and industrial 26 30 58 141 Total commercial 40 36 91 171 Real estate Residential mortgage 5 9 11 22 Residential construction — — — — Mortgage warehouse — — — — Total real estate 5 9 11 22 Consumer Direct installment 21 16 32 32 Indirect installment 132 152 271 265 Home equity 181 39 203 60 Total consumer 334 207 506 357 Total loan recoveries 379 252 608 550 Net loans charged-off 38 357 525 470 Provision charged to operating expense Commercial 985 41 (306 ) 928 Real estate (117 ) 93 (369 ) (474 ) Consumer (233 ) 196 1,877 206 Total provision charged to operating expense 635 330 1,202 660 Balance at the end of the period $ 17,071 $ 15,027 $ 17,071 $ 15,027 |
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment | The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment analysis: June 30, 2018 Commercial Real Mortgage Consumer Total Allowance For Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 184 $ — $ — $ — $ 184 Collectively evaluated for impairment 8,681 1,761 1,084 5,361 16,887 Loans acquired with deteriorated credit quality — — — — — Total ending allowance balance $ 8,865 $ 1,761 $ 1,084 $ 5,361 $ 17,071 Loans: Individually evaluated for impairment $ 8,999 $ — $ — $ — $ 8,999 Collectively evaluated for impairment 1,669,122 636,503 109,496 509,459 2,924,580 Loans acquired with deteriorated credit quality — — — — — Total ending loans balance $ 1,678,121 $ 636,503 $ 109,496 $ 509,459 $ 2,933,579 December 31, 2017 Commercial Real Mortgage Consumer Total Allowance For Loan Losses Ending allowance balance attributable to loans: Individually evaluated for impairment $ 184 $ — $ — $ — $ 184 Collectively evaluated for impairment 8,909 2,188 1,030 4,083 16,210 Loans acquired with deteriorated credit quality — — — — — Total ending allowance balance $ 9,093 $ 2,188 $ 1,030 $ 4,083 $ 16,394 Loans: Individually evaluated for impairment $ 7,187 $ — $ — $ — $ 7,187 Collectively evaluated for impairment 1,667,942 608,575 94,988 462,529 2,834,034 Loans acquired with deteriorated credit quality — — — — — Total ending loans balance $ 1,675,129 $ 608,575 $ 94,988 $ 462,529 $ 2,841,221 |
Non-performing Loans and Impa32
Non-performing Loans and Impaired Loans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Text Block [Abstract] | |
Non-accrual, Loans Past Due Over 90 Days Still on Accrual, and Troubled Debt Restructured ("TDRs") by Class of Loans | The following table presents the non-accrual, June 30, 2018 Non-accrual Loans Past Non-peforming Performing Total Non-performing Commercial Owner occupied real estate $ 5,629 $ — $ — $ — $ 5,629 Non-owner 1,038 — 305 — 1,343 Residential spec homes — — — — — Development & spec land 72 — — — 72 Commercial and industrial 1,943 — — — 1,943 Total commercial 8,682 — 305 — 8,987 Real estate Residential mortgage 1,823 11 440 1,641 3,915 Residential construction — — — — — Mortgage warehouse — — — — — Total real estate 1,823 11 440 1,641 3,915 Consumer Direct installment 54 — — — 54 Direct installment purchased — — — — — Indirect installment 619 38 — — 657 Home equity 1,377 — 149 270 1,796 Total consumer 2,050 38 149 270 2,507 Total $ 12,555 $ 49 $ 894 $ 1,911 $ 15,409 December 31, 2017 Non-accrual Loans Past Non-peforming Performing Total Non-performing Commercial Owner occupied real estate $ 4,877 $ — $ 11 $ 1 $ 4,889 Non-owner 115 — 440 — 555 Residential spec homes — — — — — Development & spec land 176 — — — 176 Commercial and industrial 1,734 — — — 1,734 Total commercial 6,902 — 451 1 7,354 Real estate Residential mortgage 3,693 — 351 1,450 5,494 Residential construction — — — 222 222 Mortgage warehouse — — — — — Total real estate 3,693 — 351 1,672 5,716 Consumer Direct installment 160 — — — 160 Direct installment purchased — — — — — Indirect installment 1,041 167 — — 1,208 Home equity 1,480 — 211 285 1,976 Total consumer 2,681 167 211 285 3,344 Total $ 13,276 $ 167 $ 1,013 $ 1,958 $ 16,414 |
Commercial Loans Individually Evaluated for Impairment by Class of Loan | The following table presents commercial loans individually evaluated for impairment by class of loan: June 30, 2018 Three Months Ended Six Months Ended Unpaid Recorded Allowance for Average Cash/Accrual Average Cash/Accrual With no recorded allowance Commercial Owner occupied real estate $ 4,765 $ 4,762 $ — $ 5,271 $ 59 $ 5,303 $ 96 Non-owner 1,344 1,360 — 1,591 5 1,559 10 Residential spec homes — — — — — — — Development & spec land 72 70 — 71 — 73 — Commercial and industrial 1,943 1,943 — 1,916 7 1,886 7 Total commercial 8,124 8,135 — 8,849 71 8,821 113 With an allowance recorded Commercial Owner occupied real estate 864 864 184 871 — 885 — Non-owner — — — — — — — Residential spec homes — — — — — — — Development & spec land — — — — — — — Commercial and industrial — — — — — — — Total commercial 864 864 184 871 — 885 — Total $ 8,988 $ 8,999 $ 184 $ 9,720 $ 71 $ 9,706 $ 113 June 30, 2017 Three Months Ended Six Months Ended Unpaid Recorded Allowance for Average Cash/Accrual Average Cash/Accrual With no recorded allowance Commercial Owner occupied real estate $ 1,591 $ 1,592 $ — $ 1,538 $ 22 $ 1,233 $ 22 Non-owner 467 467 — 471 2 432 2 Residential spec homes — — — — — — — Development & spec land 107 107 — 230 — 234 — Commercial and industrial 1,474 1,474 — 1,023 16 619 16 Total commercial 3,639 3,640 — 3,262 40 2,518 40 With an allowance recorded Commercial Owner occupied real estate — — — — — — — Non-owner — — — — — — — Residential spec homes — — — — — — — Development & spec land — — — — — — — Commercial and industrial — — — — — — — Total commercial — — — — — — — Total $ 3,639 $ 3,640 $ — $ 3,262 $ 40 $ 2,518 $ 40 |
Payment Status by Class of Loan | The following table presents the payment status by class of loan: June 30, 2018 30-59 Days 60-89 Days 90 Days or Total Loans Not Total Commercial Owner occupied real estate $ 897 $ 138 $ — $ 1,035 $ 590,238 $ 591,273 Non-owner 42 895 — 937 677,976 678,913 Residential spec homes — — — — 11,614 11,614 Development & spec land — — — — 34,384 34,384 Commercial and industrial 175 966 — 1,141 351,072 352,213 Total commercial 1,114 1,999 — 3,113 1,665,284 1,668,397 Real estate Residential mortgage 822 302 11 1,135 609,736 610,871 Residential construction — — — — 21,585 21,585 Mortgage warehouse — — — — 109,016 109,016 Total real estate 822 302 11 1,135 740,337 741,472 Consumer Direct installment 78 26 — 104 38,961 39,065 Indirect installment 1,513 256 38 1,807 274,510 276,317 Home equity 451 30 — 481 194,156 194,637 Total consumer 2,042 312 38 2,392 507,627 510,019 Total $ 3,978 $ 2,613 $ 49 $ 6,640 $ 2,913,248 $ 2,919,888 Percentage of total loans 0.14 % 0.09 % 0.00 % 0.23 % 99.77 % December 31, 2017 30-59 60-89 90 Days or Total Loans Not Total Commercial Owner occupied real estate $ 1,613 $ 1,950 $ — $ 3,563 $ 568,419 $ 571,982 Non-owner 512 122 — 634 678,311 678,945 Residential spec homes — — — — 16,431 16,431 Development & spec land 31 — — 31 48,807 48,838 Commercial and industrial 520 1 — 521 347,350 347,871 Total commercial 2,676 2,073 — 4,749 1,659,318 1,664,067 Real estate Residential mortgage 1,248 49 — 1,297 587,061 588,358 Residential construction 63 — — 63 15,964 16,027 Mortgage warehouse — — — — 94,508 94,508 Total real estate 1,311 49 — 1,360 697,533 698,893 Consumer Direct installment 78 10 — 88 37,753 37,841 Indirect installment 1,859 244 167 2,270 225,053 227,323 Home equity 502 527 — 1,029 196,549 197,578 Total consumer 2,439 781 167 3,387 459,355 462,742 Total $ 6,426 $ 2,903 $ 167 $ 9,496 $ 2,816,206 $ 2,825,702 Percentage of total loans 0.23 % 0.10 % 0.01 % 0.34 % 99.66 % |
Loans by Credit Grades | The following table presents loans by credit grades. June 30, 2018 Pass Special Substandard Doubtful Total Commercial Owner occupied real estate $ 569,089 $ 5,772 $ 16,412 $ — $ 591,273 Non-owner 667,031 5,888 5,994 — 678,913 Residential spec homes 11,614 — — — 11,614 Development & spec land 34,168 144 72 — 34,384 Commercial and industrial 335,442 4,719 12,052 — 352,213 Total commercial 1,617,344 16,523 34,530 — 1,668,397 Real estate Residential mortgage 606,967 — 3,904 — 610,871 Residential construction 21,585 — — — 21,585 Mortgage warehouse 109,016 — — — 109,016 Total real estate 737,568 — 3,904 — 741,472 Consumer Direct installment 39,011 — 54 — 39,065 Indirect installment 275,660 — 657 — 276,317 Home equity 192,841 — 1,796 — 194,637 Total consumer 507,512 — 2,507 — 510,019 Total $ 2,862,424 $ 16,523 $ 40,941 $ — $ 2,919,888 Percentage of total loans 98.03 % 0.57 % 1.40 % 0.00 % December 31, 2017 Pass Special Substandard Doubtful Total Commercial Owner occupied real estate $ 545,158 $ 8,622 $ 18,202 $ — $ 571,982 Non-owner 670,074 3,864 5,007 — 678,945 Residential spec homes 16,431 — — — 16,431 Development & spec land 47,726 886 226 — 48,838 Commercial and industrial 326,756 7,448 13,667 — 347,871 Total commercial 1,606,145 20,820 37,102 — 1,664,067 Real estate Residential mortgage 582,864 — 5,494 — 588,358 Residential construction 15,805 — 222 — 16,027 Mortgage warehouse 94,508 — — — 94,508 Total real estate 693,177 — 5,716 — 698,893 Consumer Direct installment 37,681 — 160 — 37,841 Indirect installment 226,115 — 1,208 — 227,323 Home equity 195,602 — 1,976 — 197,578 Total consumer 459,398 — 3,344 — 462,742 Total $ 2,758,720 $ 20,820 $ 46,162 $ — $ 2,825,702 Percentage of total loans 97.63 % 0.74 % 1.63 % 0.00 % |
Repurchase Agreements (Tables)
Repurchase Agreements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Text Block [Abstract] | |
Summary of Repurchase Agreements Accounted as Secured Borrowings | The following table shows repurchase agreements accounted for as secured borrowings: June 30, 2018 Remaining Contractual Maturity of the Agreements Overnight Up to One Three Five Beyond Total Repurchase Agreements and repurchase-to-maturity Repurchase Agreements $ 43,702 $ — $ — $ — $ — $ — $ 43,702 Securities pledged for Repurchase Agreements Federal agency collateralized mortgage obligations $ 34,344 $ — $ — $ — $ — $ — $ 34,344 Federal agency mortgage-backed pools 31,208 — — — — — 31,208 Total $ 65,552 $ — $ — $ — $ — $ — $ 65,552 |
Derivative Financial Instrume34
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value of Derivative Financial Instruments | The following tables summarize the fair value of derivative financial instruments utilized by Horizon: Asset Derivatives Liability Derivatives June 30, 2018 June 30, 2018 Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest rate contracts Loans $ — Other liabilities $ 3,579 Interest rate contracts Other Assets 3,579 Other liabilities 969 Total derivatives desginated as hedging instruments 3,579 4,548 Derivatives not designated as hedging instruments Mortgage loan contracts Other assets 257 Other liabilities 4 Total derivatives not designated as hedging instruments 257 4 Total derivatives $ 3,836 $ 4,552 Asset Derivatives Liability Derivatives December 31, 2017 December 31, 2017 Balance Sheet Fair Balance Sheet Fair Derivatives designated as hedging instruments Interest rate contracts Loans $ — Other liabilities $ 811 Interest rate contracts Other Assets 811 Other liabilities 1,728 Total derivatives desginated as hedging instruments 811 2,539 Derivatives not designated as hedging instruments Mortgage loan contracts Other assets 143 Other liabilities 3 Total derivatives not designated as hedging instruments 143 3 Total derivatives $ 954 $ 2,542 |
Effect of Derivative Instruments on Condensed Consolidated Statements of Income Derivative in Cash Flow Hedging Relationship | The effect of the derivative instruments on the condensed consolidated statements of income for the three and six-month Amount of Loss Recognized in Other Comprehensive Income on Three Months Ended Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Derivatives in cash flow hedging relationship Interest rate contracts $ 279 $ 30 $ 879 $ 290 |
Effect of Derivative Instruments on Consolidated Statement of Income Derivative in Fair Value Hedging Relationship | Location of gain (loss) Amount of Gain (Loss) Recognized on Derivative Three Months Six Months Ended June 30, June 30, June 30, June 30, Derivative in fair value hedging relationship Interest rate contracts Interest income - loans $ 2,768 $ 679 $ 574 $ 426 Interest rate contracts Interest income - loans (2,768 ) (679 ) (574 ) (426 ) Total $ — $ — $ — $ — Location of gain (loss) Amount of Gain (Loss) Recognized on Derivative Three Months Six Months Ended June 30, June 30, June 30, June 30, Derivative not designated as hedging relationship Mortgage contracts Other income - $ 112 $ (153 ) $ 195 $ (212 ) |
Disclosures about Fair Value 35
Disclosures about Fair Value of Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis | The following table presents the fair value measurements of assets and liabilities recognized in the accompanying condensed consolidated financial statements measured at fair value on a recurring basis and the level within the FASB ASC fair value hierarchy in which the fair value measurements fall at the following: June 30, 2018 Fair Value Quoted Prices in Significant Significant Available for sale securities U.S. Treasury and federal agencies $ 24,219 $ — $ 24,219 $ — State and municipal 134,981 — 134,981 — Federal agency collateralized mortgage obligations 164,134 — 164,134 — Federal agency mortgage-backed pools 196,995 — 196,995 — Private labeled mortgage-backed pools — — — — Corporate notes 5,866 — 5,866 — Total available for sale securities 526,195 — 526,195 — Hedged loans 155,742 — 155,742 — Forward sale commitments 344 — 344 — Interest rate swap agreements 3,939 — 3,939 — Commitments to originate loans (21 ) — (21 ) — December 31, 2017 Fair Value Quoted Prices in Significant Significant Available for sale securities U.S. Treasury and federal agencies $ 19,052 $ — $ 19,052 $ — State and municipal 149,564 — 149,564 — Federal agency collateralized mortgage obligations 130,365 — 130,365 — Federal agency mortgage-backed pools 208,657 — 208,657 — Private labeled mortgage-backed pools 1,642 — 1,642 — Corporate notes 385 — 385 — Total available for sale securities 509,665 — 509,665 — Hedged loans 154,575 — 154,575 — Forward sale commitments 143 — 143 — Interest rate swap agreements (917 ) — (917 ) — Commitments to originate loans (3 ) — (3 ) — |
Realized Gains and Losses Included in Net Income for Periods in Condensed Consolidated Statements of Income | Realized gains and losses included in net income for the periods are reported in the condensed consolidated statements of income as follows: Non-interest Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Total gains and losses from: Hedged loans $ 976 $ 679 $ 3,744 $ 426 Fair value interest rate swap agreements (976 ) (679 ) (3,744 ) (426 ) Derivative loan commitments 71 (153 ) 183 (212 ) $ 71 $ (153 ) $ 183 $ (212 ) |
Other Assets Measured at Fair Value on Non-recurring Basis | Certain other assets are measured at fair value on a non-recurring Fair Quoted Prices in Significant Significant June 30, 2018 Impaired loans $ 8,804 $ — $ — $ 8,804 Mortgage servicing rights 11,670 — — 11,670 December 31, 2017 Impaired loans $ 6,957 $ — $ — $ 6,957 Mortgage servicing rights 11,602 — — 11,602 |
Qualitative Information About Unobservable Inputs Used in Recurring and Non-recurring Level 3 Fair Value Measurements, Other than Goodwill | The following table presents qualitative information about unobservable inputs used in recurring and non-recurring June 30, 2018 Fair Valuation Unobservable Range Value Technique Inputs (Weighted Average) Impaired loans $ 8,804 Collateral based measurement Discount to reflect current market 0%-54.8% (2.0%) Mortgage servicing rights 11,670 Discounted cash flows Discount rate, 10.3%-11.3% 8.3%-16.5% (8.6%), 0.1%-1.7% December 31, 2017 Fair Valuation Unobservable Range Value Technique Inputs (Weighted Average) Impaired loans $ 6,957 Collateral based measurement Discount to reflect current market 0%-46.8% Mortgage servicing rights 11,602 Discounted cash flows Discount rate, 9.6%-10.8% 9.2%-27.7% (10.5%), 0%-1.5% |
Fair Value of Financial Instr36
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Summary of Estimated Fair Values of Financial Instruments | The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall (unaudited). June 30, 2018 Carrying Quoted Prices in Significant Significant Assets Cash and due from banks $ 69,018 $ 69,018 $ — $ — Investment securities, held to maturity 209,767 — 206,730 — Loans held for sale 3,000 — — 3,000 Loans (excluding loan level hedges), net 2,751,703 — — 2,585,501 Stock in FHLB 18,105 — 18,105 — Interest receivable 12,993 — 12,993 — Liabilities Non-interest $ 615,018 $ 615,018 $ — $ — Interest bearing deposits 2,401,145 — 2,263,817 — Borrowings 524,846 — 520,701 — Subordinated debentures 37,745 — 35,682 — Interest payable 1,441 — 1,441 — December 31, 2017 Carrying Quoted Prices in Significant Significant Assets Cash and due from banks $ 76,441 $ 76,441 $ — $ — Investment securities, held to maturity 200,448 — 201,085 — Loans held for sale 3,094 — — 3,094 Loans (excluding loan level hedges), net 2,661,026 — — 2,585,879 Stock in FHLB 18,105 — 18,105 — Interest receivable 16,244 — 16,244 — Liabilities Non-interest $ 601,805 $ 601,805 $ — $ — Interest bearing deposits 2,279,198 — 2,156,487 — Borrowings 564,157 — 560,057 — Subordinated debentures 37,653 — 35,994 — Interest payable 886 — 886 — |
Accumulated Other Comprehensi37
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income | June 30 December 31 2018 2017 Unrealized loss on securities available for sale $ (12,891 ) $ (3,937 ) Unamortized gain on securities held to maturity, previously transferred from AFS 102 200 Unrealized loss on derivative instruments (615 ) (1,728 ) Tax effect 2,817 1,914 Total accumulated other comprehensive loss $ (10,587 ) $ (3,551 ) |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Banking and Thrift [Abstract] | |
Summary of Regulatory Capital Requirement | Horizon and the Bank’s actual and required capital ratios as of June 30, 2018 and December 31, 2017 were as follows: Actual Required for Capital 1 Required For Capital 1 Well Capitalized Under 1 Amount Ratio Amount Ratio Amount Ratio Amount Ratio June 30, 2018 Total capital 1 Consolidated $ 403,480 13.07 % 246,952 8.00 % 285,539 9.25 % N/A N/A Bank 392,814 12.77 % 246,109 8.00 % 284,563 9.25 % $ 307,636 10.00 % Tier 1 capital 1 Consolidated 386,409 12.52 % 185,214 6.00 % 223,800 7.25 % N/A N/A Bank 375,684 12.21 % 184,581 6.00 % 223,035 7.25 % 246,108 8.00 % Common equity tier 1 capital 1 Consolidated 347,946 11.27 % 138,910 4.50 % 177,497 5.75 % N/A N/A Bank 375,684 12.21 % 138,436 4.50 % 176,890 5.75 % 199,963 6.50 % Tier 1 capital 1 Consolidated 386,409 9.94 % 155,556 4.00 % 155,556 4.00 % N/A N/A Bank 375,684 9.65 % 155,805 4.00 % 155,805 4.00 % 194,756 5.00 % December 31, 2017 Total capital 1 Consolidated $ 384,800 12.91 % $ 238,543 8.00 % $ 275,816 9.25 % N/A N/A Bank 382,788 12.85 % 238,386 8.00 % 275,634 9.25 % $ 297,982 10.00 % Tier 1 capital 1 Consolidated 368,355 12.35 % 178,907 6.00 % 216,180 7.25 % N/A N/A Bank 366,343 12.29 % 178,790 6.00 % 216,038 7.25 % 238,386 8.00 % Common equity tier 1 capital 1 Consolidated 329,892 11.06 % 134,181 4.50 % 171,454 5.75 % N/A N/A Bank 366,343 12.29 % 134,092 4.50 % 171,340 5.75 % 193,689 6.50 % Tier 1 capital 1 Consolidated 368,355 9.92 % 148,503 4.00 % 148,503 4.00 % N/A N/A Bank 366,343 9.89 % 148,116 4.00 % 148,116 4.00 % 185,145 5.00 % |
Accounting Policies - Additiona
Accounting Policies - Additional Information (Detail) | Jun. 15, 2018 | May 15, 2018$ / shares | Jun. 30, 2018$ / sharesshares | Jun. 30, 2017shares | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2017shares | Dec. 31, 2017$ / shares |
Schedule Of Accounting Policies [Line Items] | |||||||
Stock split ratio | 0.015 | 0.015 | |||||
Common stock, par value | $ / shares | $ 0 | ||||||
Shares, non-dilutive | shares | 0 | 0 | 67,575 | 0 | |||
Reclassifications effect on net income | $ 0 | ||||||
Accounting Standards Update 2018-02 [Member] | |||||||
Schedule Of Accounting Policies [Line Items] | |||||||
Cumulative-effect adjustment from AOCI to increase retained earnings | $ 766,000 |
Accounting Policies - Summary o
Accounting Policies - Summary of Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Basic earnings per share | ||||
Net income | $ 14,115 | $ 9,072 | $ 26,919 | $ 17,296 |
Weighted average common shares outstanding | 38,347,612 | 33,264,697 | 38,327,118 | 33,263,997 |
Basic Earnings Per Share | $ 0.37 | $ 0.27 | $ 0.70 | $ 0.52 |
Diluted earnings per share | ||||
Net income available to common shareholders | $ 14,115 | $ 9,072 | $ 26,919 | $ 17,296 |
Weighted average common shares outstanding | 38,347,612 | 33,264,697 | 38,327,118 | 33,263,997 |
Effect of dilutive securities: | ||||
Weighted average common shares outstanding | 38,519,401 | 33,483,584 | 38,484,321 | 33,486,779 |
Diluted Earnings Per Share | $ 0.37 | $ 0.27 | $ 0.70 | $ 0.51 |
Restricted Stock [Member] | ||||
Effect of dilutive securities: | ||||
Effect of dilutive securities | 47,307 | 45,136 | 37,383 | 49,807 |
Stock Options [Member] | ||||
Effect of dilutive securities: | ||||
Effect of dilutive securities | 124,482 | 173,751 | 119,820 | 172,975 |
Accounting Policies - Summary41
Accounting Policies - Summary of Computation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) | Jun. 15, 2018 | May 15, 2018 |
Accounting Policies [Abstract] | ||
Stock split ratio | 0.015 | 0.015 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - USD ($) | Oct. 17, 2017 | Sep. 01, 2017 | Feb. 03, 2017 | Dec. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Aug. 31, 2017 |
Business Acquisition [Line Items] | |||||||
Common stock, shares outstanding | 38,294,729 | 38,362,640 | |||||
Acquisition of goodwill | $ 119,880,000 | $ 119,880,000 | |||||
Ownership interest percentage | 5.00% | ||||||
Payments received as cash consideration | $ (11,000,000) | ||||||
Wolverine Bancorp Inc [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Exchange ratio per share | 152.28% | ||||||
Cash paid for each share | $ 14 | ||||||
Common stock, shares outstanding | 2,129,331 | ||||||
Common stock issued | 3,241,045 | ||||||
Market closing price per share | $ 19.37 | ||||||
Estimated transaction value | $ 93,800,000 | ||||||
Costs related to the acquisition | 1,900,000 | ||||||
Total estimated purchase price | 93,773,000 | ||||||
Net intangible assets acquired | 2,024,000 | ||||||
Acquisition of goodwill | 26,827,000 | ||||||
Purchase price of the business assets, portion deductible | $ 0 | ||||||
Core deposit intangible amortization period | 10 years | ||||||
Lafayette Community Bancorp [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Exchange ratio per share | 88.17% | ||||||
Cash paid for each share | $ 1.73 | ||||||
Common stock, shares outstanding | 1,856,679 | ||||||
Common stock issued | 1,636,888 | ||||||
Market closing price per share | $ 17.45 | ||||||
Estimated transaction value | $ 34,500,000 | ||||||
Costs related to the acquisition | $ 1,700,000 | ||||||
Total estimated purchase price | 34,465,000 | ||||||
Net intangible assets acquired | 2,085,000 | ||||||
Acquisition of goodwill | 15,408,000 | ||||||
Purchase price of the business assets, portion deductible | $ 0 | ||||||
Core deposit intangible amortization period | 10 years | ||||||
Gain on remeasurement of equity interest | $ 530,000 | ||||||
Lafayette Community Bancorp [Member] | Maximum [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Number of shares owned | 100 | ||||||
Share of common stock outstanding per share | $ 17.25 | ||||||
First Farmers Bank & Trust Co [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Net intangible assets acquired | $ 452,000,000 | ||||||
Acquisition of goodwill | $ 0 | ||||||
Core deposit intangible amortization period | 10 years | ||||||
Payments received as cash consideration | $ 11,000,000 | ||||||
Business acquisition, loans assumed | $ 3,400,000 | ||||||
Premium on deposits paid | 3.00% | ||||||
Business acquisition, customer deposit balances | $ 14,800,000 |
Acquisitions - Schedule of Fina
Acquisitions - Schedule of Final Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Oct. 17, 2017 |
Loans | |||
Goodwill | $ 119,880 | $ 119,880 | |
Wolverine Bancorp Inc [Member] | |||
Assets | |||
Cash and due from banks | $ 44,450 | ||
Loans | |||
Total loans | 310,667 | ||
Premises and equipment, net | 2,941 | ||
FRB and FHLB stock | 2,700 | ||
Goodwill | 26,827 | ||
Core deposit intangible | 2,024 | ||
Interest receivable | 584 | ||
Other assets | 3,897 | ||
Total assets purchased | 394,090 | ||
Common shares issued | 62,111 | ||
Cash paid | 31,662 | ||
Total estimated purchase price | 93,773 | ||
Deposits | |||
Non-interest bearing | 25,221 | ||
NOW accounts | 8,026 | ||
Savings and money market | 129,044 | ||
Certificates of deposit | 94,688 | ||
Total deposits | 256,979 | ||
Borrowings | 36,970 | ||
Interest payable | 214 | ||
Other liabilities | 6,154 | ||
Total liabilities assumed | 300,317 | ||
Wolverine Bancorp Inc [Member] | Residential Mortgage [Member] | |||
Loans | |||
Total loans | 30,603 | ||
Wolverine Bancorp Inc [Member] | Commercial [Member] | |||
Loans | |||
Total loans | 276,167 | ||
Wolverine Bancorp Inc [Member] | Consumer [Member] | |||
Loans | |||
Total loans | $ 3,897 |
Acquisitions - Schedule of Acqu
Acquisitions - Schedule of Acquired Loans Accounted for in Accordance with ASC 310-30 (Detail) - USD ($) $ in Thousands | Oct. 17, 2017 | Sep. 01, 2017 |
Wolverine Bancorp Inc [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually required principal and interest at acquisition | $ 21,912 | |
Contractual cash flows not expected to be collected (nonaccretable differences) | 1,832 | |
Expected cash flows at acquisition | 20,080 | |
Interest component of expected cash flows (accretable discount) | 2,267 | |
Fair value of acquired loans accounted for under ASC 310-30 | $ 17,813 | |
Lafayette Community Bancorp [Member] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||
Contractually required principal and interest at acquisition | $ 6,128 | |
Contractual cash flows not expected to be collected (nonaccretable differences) | 1,326 | |
Expected cash flows at acquisition | 4,802 | |
Interest component of expected cash flows (accretable discount) | 933 | |
Fair value of acquired loans accounted for under ASC 310-30 | $ 3,869 |
Acquisitions - Schedule of Purc
Acquisitions - Schedule of Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 01, 2017 |
Loans | |||
Goodwill | $ 119,880 | $ 119,880 | |
Lafayette Community Bancorp [Member] | |||
Assets | |||
Cash and due from banks | $ 24,846 | ||
Investment securities, available for sale | 6 | ||
Loans | |||
Total loans | 134,299 | ||
Premises and equipment, net | 7,818 | ||
FHLB stock | 395 | ||
Goodwill | 15,408 | ||
Core deposit intangible | 2,085 | ||
Interest receivable | 338 | ||
Other assets | 1,649 | ||
Total assets purchased | 186,844 | ||
Common shares issued | 30,044 | ||
Cash paid | 4,421 | ||
Total estimated purchase price | 34,465 | ||
Deposits | |||
Non-interest bearing | 34,990 | ||
NOW accounts | 30,174 | ||
Savings and money market | 53,663 | ||
Certificates of deposit | 32,520 | ||
Total deposits | 151,347 | ||
Interest payable | 42 | ||
Other liabilities | 990 | ||
Total liabilities assumed | 152,379 | ||
Lafayette Community Bancorp [Member] | Residential Mortgage [Member] | |||
Loans | |||
Total loans | 12,761 | ||
Lafayette Community Bancorp [Member] | Commercial [Member] | |||
Loans | |||
Total loans | 116,258 | ||
Lafayette Community Bancorp [Member] | Consumer [Member] | |||
Loans | |||
Total loans | $ 5,280 |
Acquisitions - Schedule of Pu46
Acquisitions - Schedule of Purchase Price of Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) | Jul. 18, 2016USD ($) |
Lafayette Community Bancorp [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Common shares previously held | $ 955,000 |
Acquisitions - Pro Forma Result
Acquisitions - Pro Forma Result of Comparable Prior Reporting Period (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Business Acquisition, Pro Forma Information [Abstract] | ||
Net Interest Income | $ 32,038 | $ 62,164 |
Provision for Loan Losses | (1,090) | (1,337) |
Net Interest Income after Provision for Loan Losses | 33,128 | 63,501 |
Non-interest Income | 8,662 | 16,565 |
Non-interest Expense | 26,714 | 51,398 |
Income before Income Taxes | 15,076 | 28,668 |
Income Tax Expense | 4,549 | 8,412 |
Net Income | 10,527 | 20,256 |
Net Income Available to Common Shareholders | $ 10,527 | $ 20,256 |
Basic Earnings per Share | $ 0.32 | $ 0.61 |
Diluted Earnings per Share | $ 0.31 | $ 0.60 |
Securities - Fair Value of Secu
Securities - Fair Value of Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | $ 539,086 | $ 513,602 |
Gross Unrealized Gains | 585 | 2,502 |
Gross Unrealized Losses | (13,476) | (6,439) |
Available-for-sale Securities, Fair Value | 526,195 | 509,665 |
Held-to-maturity, Amortized Cost | 209,767 | 200,448 |
Held-to-maturity, Gross Unrealized Gains | 1,673 | 3,726 |
Held-to-maturity, Gross Unrealized Losses | (4,710) | (3,089) |
Held-to-maturity, Fair Value | 206,730 | 201,085 |
State and Municipal [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 136,732 | 148,045 |
Gross Unrealized Gains | 300 | 2,189 |
Gross Unrealized Losses | (2,051) | (670) |
Available-for-sale Securities, Fair Value | 134,981 | 149,564 |
Held-to-maturity, Amortized Cost | 190,079 | 179,836 |
Held-to-maturity, Gross Unrealized Gains | 1,610 | 3,493 |
Held-to-maturity, Gross Unrealized Losses | (4,309) | (2,932) |
Held-to-maturity, Fair Value | 187,380 | 180,397 |
Federal Agency Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 168,382 | 132,871 |
Gross Unrealized Gains | 112 | 45 |
Gross Unrealized Losses | (4,360) | (2,551) |
Available-for-sale Securities, Fair Value | 164,134 | 130,365 |
Held-to-maturity, Amortized Cost | 5,409 | 5,734 |
Held-to-maturity, Gross Unrealized Gains | 8 | 17 |
Held-to-maturity, Gross Unrealized Losses | (157) | (69) |
Held-to-maturity, Fair Value | 5,260 | 5,682 |
Federal Agency Mortgage-backed Pools [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 203,593 | 211,487 |
Gross Unrealized Gains | 28 | 155 |
Gross Unrealized Losses | (6,626) | (2,985) |
Available-for-sale Securities, Fair Value | 196,995 | 208,657 |
Held-to-maturity, Amortized Cost | 14,279 | 14,878 |
Held-to-maturity, Gross Unrealized Gains | 55 | 216 |
Held-to-maturity, Gross Unrealized Losses | (244) | (88) |
Held-to-maturity, Fair Value | 14,090 | 15,006 |
U.S. Treasury and Federal Agencies [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 24,654 | 19,277 |
Gross Unrealized Losses | (435) | (225) |
Available-for-sale Securities, Fair Value | 24,219 | 19,052 |
Private Labeled Mortgage-backed Pools [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 1,650 | |
Gross Unrealized Losses | (8) | |
Available-for-sale Securities, Fair Value | 1,642 | |
Corporate Notes [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 5,725 | 272 |
Gross Unrealized Gains | 145 | 113 |
Gross Unrealized Losses | (4) | |
Available-for-sale Securities, Fair Value | $ 5,866 | $ 385 |
Securities - Additional Informa
Securities - Additional Information (Detail) | Jun. 30, 2018USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
Unrealized loss, other than temporary securities | $ 0 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized cost within one year | $ 10,054 | $ 13,347 |
Amortized cost one to five years | 29,238 | 40,468 |
Amortized cost for five to ten years | 80,973 | 50,473 |
Amortized cost for after ten years | 46,846 | 63,306 |
Total amortized cost | 167,111 | 167,594 |
Total available for sale investment securities, Amortized Cost | 539,086 | 513,602 |
Within one year, amortized cost | 5,578 | 1,948 |
One to five years, amortized cost | 43,825 | 40,603 |
Five to ten years, amortized cost | 103,804 | 89,801 |
After ten years, amortized cost | 36,872 | 47,484 |
Total amortized cost | 190,079 | 179,836 |
Total held to maturity investment securities, amortized cost | 209,767 | 200,448 |
Fair value within one year | 10,013 | 13,326 |
Fair value for one to five years | 28,739 | 40,193 |
Fair value for five to ten years | 79,937 | 51,156 |
Fair value for after ten years | 46,377 | 64,326 |
Total fair value | 165,066 | 169,001 |
Investment securities, available for sale | 526,195 | 509,665 |
Within one year, fair value | 5,546 | 1,934 |
One to five years, fair value | 44,383 | 41,531 |
five to ten years, fair value | 103,252 | 91,249 |
After ten years, fair value | 34,199 | 45,683 |
Total fair value | 187,380 | 180,397 |
Held-to-maturity, Fair Value | 206,730 | 201,085 |
Federal Agency Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 168,382 | 132,871 |
Total held to maturity investment securities, amortized cost | 5,409 | 5,734 |
Investment securities, available for sale | 164,134 | 130,365 |
Held-to-maturity, Fair Value | 5,260 | 5,682 |
Federal Agency Mortgage-backed Pools [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 203,593 | 211,487 |
Total held to maturity investment securities, amortized cost | 14,279 | 14,878 |
Investment securities, available for sale | 196,995 | 208,657 |
Held-to-maturity, Fair Value | $ 14,090 | 15,006 |
Private Labeled Mortgage-backed Pools [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total available for sale investment securities, Amortized Cost | 1,650 | |
Investment securities, available for sale | $ 1,642 |
Securities - Gross Unrealized L
Securities - Gross Unrealized Losses and Fair Value of Company's Investments (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value less than 12 months | $ 357,355 | $ 229,768 |
Fair value more than 12 months | 194,073 | 193,869 |
Total fair value | 551,428 | 423,637 |
Unrealized losses less than 12 months | (9,431) | (4,554) |
Unrealized losses more than 12 months | (8,755) | (4,974) |
Total unrealized losses | (18,186) | (9,528) |
U.S. Treasury and Federal Agencies [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value less than 12 months | 20,387 | 15,882 |
Fair value more than 12 months | 3,832 | 2,870 |
Total fair value | 24,219 | 18,752 |
Unrealized losses less than 12 months | (352) | (180) |
Unrealized losses more than 12 months | (83) | (45) |
Total unrealized losses | (435) | (225) |
State and Municipal [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value less than 12 months | 149,412 | 54,312 |
Fair value more than 12 months | 37,546 | 30,691 |
Total fair value | 186,958 | 85,003 |
Unrealized losses less than 12 months | (4,495) | (2,758) |
Unrealized losses more than 12 months | (1,865) | (844) |
Total unrealized losses | (6,360) | (3,602) |
Federal Agency Collateralized Mortgage Obligations [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value less than 12 months | 67,216 | 54,006 |
Fair value more than 12 months | 67,923 | 73,462 |
Total fair value | 135,139 | 127,468 |
Unrealized losses less than 12 months | (1,507) | (589) |
Unrealized losses more than 12 months | (3,010) | (2,031) |
Total unrealized losses | (4,517) | (2,620) |
Federal Agency Mortgage-backed Pools [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value less than 12 months | 119,369 | 103,926 |
Fair value more than 12 months | 84,772 | 86,846 |
Total fair value | 204,141 | 190,772 |
Unrealized losses less than 12 months | (3,073) | (1,019) |
Unrealized losses more than 12 months | (3,797) | (2,054) |
Total unrealized losses | (6,870) | (3,073) |
Private Labeled Mortgage-backed Pools [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value less than 12 months | 1,642 | |
Total fair value | 1,642 | |
Unrealized losses less than 12 months | (8) | |
Total unrealized losses | $ (8) | |
Corporate Notes [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value less than 12 months | 971 | |
Total fair value | 971 | |
Unrealized losses less than 12 months | (4) | |
Total unrealized losses | $ (4) |
Securities - Sales of Securitie
Securities - Sales of Securities Available for Sale (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |||
Proceeds | $ 3,013 | $ 9,836 | $ 5,103 |
Gross gains | 110 | 37 | 145 |
Gross losses | $ (113) | $ (26) | $ (113) |
Loans - Amounts of Loans (Detai
Loans - Amounts of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage warehouse | $ 109,016 | $ 94,508 | ||||
Total loans | 2,924,516 | 2,831,995 | ||||
Allowance for Loan Losses | (17,071) | $ (16,474) | (16,394) | $ (15,027) | $ (15,054) | $ (14,837) |
Loans, net | 2,907,445 | 2,815,601 | ||||
Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 1,672,998 | 1,669,728 | ||||
Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Real Estate, Total | 634,636 | 606,760 | ||||
Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 507,866 | 460,999 | ||||
Working Capital and Equipment [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 744,842 | 720,477 | ||||
Real Estate Including Agriculture [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 857,336 | 880,861 | ||||
Tax Exempt Loans Receivable [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 36,857 | 36,324 | ||||
Other Commercial Loans [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 33,963 | 32,066 | ||||
1-4 Family [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Real Estate, Total | 627,137 | 599,217 | ||||
Other Real Estate Loans [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Real Estate, Total | 7,499 | 7,543 | ||||
Auto [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 289,361 | 244,003 | ||||
Recreation Consumer Loans Receivable [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 13,158 | 8,728 | ||||
Real Estate Home Improvement Loans Receivable [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 38,096 | 37,052 | ||||
Home Equity Loan [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 161,047 | 165,240 | ||||
Unsecured Debt [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | 3,996 | 3,479 | ||||
Other Consumer Loans [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Commercial/Consumer, Total | $ 2,208 | $ 2,497 |
Loans - Additional Information
Loans - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2018 | |
Receivables [Abstract] | |
Period of loan sold | 30 days |
Minimum period seldom held | 90 days |
Mortgage warehousing maximum pay off period | 30 days |
Loans - Recorded Investment of
Loans - Recorded Investment of Individual Loan Categories (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | $ 2,919,888 | $ 2,825,702 | ||||
Net loans | 2,902,817 | 2,809,308 | ||||
Interest Due | 9,063 | 9,226 | ||||
Deferred Fees / (Costs) | 4,628 | 6,293 | ||||
Recorded Investment | 2,933,579 | 2,841,221 | ||||
Recorded Investment | 2,916,508 | 2,824,827 | ||||
Allowance for Loan Losses | (17,071) | $ (16,474) | (16,394) | $ (15,027) | $ (15,054) | $ (14,837) |
Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 1,668,397 | 1,664,067 | ||||
Interest Due | 5,123 | 5,401 | ||||
Deferred Fees / (Costs) | 4,601 | 5,661 | ||||
Recorded Investment | 1,678,121 | 1,675,129 | ||||
Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 741,472 | 698,893 | ||||
Interest Due | 2,347 | 2,295 | ||||
Deferred Fees / (Costs) | 2,180 | 2,375 | ||||
Recorded Investment | 745,999 | 703,563 | ||||
Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 510,019 | 462,742 | ||||
Interest Due | 1,593 | 1,530 | ||||
Deferred Fees / (Costs) | (2,153) | (1,743) | ||||
Recorded Investment | 509,459 | 462,529 | ||||
Owner Occupied Real Estate [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 591,273 | 571,982 | ||||
Interest Due | 1,446 | 1,511 | ||||
Deferred Fees / (Costs) | 2,000 | 1,917 | ||||
Recorded Investment | 594,719 | 575,410 | ||||
Non Owner Occupied Real Estate [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 678,913 | 678,945 | ||||
Interest Due | 980 | 1,138 | ||||
Deferred Fees / (Costs) | 2,100 | 2,478 | ||||
Recorded Investment | 681,993 | 682,561 | ||||
Residential Spec Homes [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 11,614 | 16,431 | ||||
Interest Due | 27 | 63 | ||||
Deferred Fees / (Costs) | 45 | 80 | ||||
Recorded Investment | 11,686 | 16,574 | ||||
Development & Spec Land [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 34,384 | 48,838 | ||||
Interest Due | 97 | 117 | ||||
Deferred Fees / (Costs) | 28 | 579 | ||||
Recorded Investment | 34,509 | 49,534 | ||||
Commercial and Industrial [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 352,213 | 347,871 | ||||
Interest Due | 2,573 | 2,572 | ||||
Deferred Fees / (Costs) | 428 | 607 | ||||
Recorded Investment | 355,214 | 351,050 | ||||
Residential Mortgage [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 610,871 | 588,358 | ||||
Interest Due | 1,827 | 1,776 | ||||
Deferred Fees / (Costs) | 2,180 | 2,375 | ||||
Recorded Investment | 614,878 | 592,509 | ||||
Residential Construction [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 21,585 | 16,027 | ||||
Interest Due | 40 | 39 | ||||
Recorded Investment | 21,625 | 16,066 | ||||
Mortgage Warehousing [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 109,016 | 94,508 | ||||
Interest Due | 480 | 480 | ||||
Recorded Investment | 109,496 | 94,988 | ||||
Direct Installment [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 39,065 | 37,841 | ||||
Interest Due | 103 | 113 | ||||
Deferred Fees / (Costs) | (576) | (552) | ||||
Recorded Investment | 38,592 | 37,402 | ||||
Indirect Installment [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 276,317 | 227,323 | ||||
Interest Due | 607 | 528 | ||||
Deferred Fees / (Costs) | 168 | |||||
Recorded Investment | 276,924 | 228,019 | ||||
Home Equity Loan [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan Balance | 194,637 | 197,578 | ||||
Interest Due | 883 | 889 | ||||
Deferred Fees / (Costs) | (1,577) | (1,359) | ||||
Recorded Investment | $ 193,943 | $ 197,108 |
Accounting for Certain Loans 56
Accounting for Certain Loans Acquired in a Transfer - Amounts of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | $ 2,924,516 | $ 2,831,995 | ||||
Allowance for Loan Losses | (17,071) | $ (16,474) | (16,394) | $ (15,027) | $ (15,054) | $ (14,837) |
Carrying Amount | 2,902,817 | 2,809,308 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 21,106 | 29,863 | ||||
Allowance for Loan Losses | 0 | 0 | ||||
Carrying Amount | 21,106 | 29,863 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 18,998 | 27,198 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 2,078 | 2,632 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 30 | 33 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Heartland [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 447 | 619 | ||||
Allowance for Loan Losses | 0 | 0 | ||||
Carrying Amount | 447 | 619 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Heartland [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 254 | 390 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Heartland [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 193 | 229 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Summit [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 3,893 | 4,523 | ||||
Allowance for Loan Losses | 0 | 0 | ||||
Carrying Amount | 3,893 | 4,523 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Summit [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 3,301 | 3,653 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Summit [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 592 | 870 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Peoples Bancorp Inc [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 408 | 441 | ||||
Allowance for Loan Losses | 0 | 0 | ||||
Carrying Amount | 408 | 441 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Peoples Bancorp Inc [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 296 | 315 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Peoples Bancorp Inc [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 112 | 126 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Kosciusko Financial Inc [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 998 | 1,241 | ||||
Allowance for Loan Losses | 0 | 0 | ||||
Carrying Amount | 998 | 1,241 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Kosciusko Financial Inc [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 791 | 838 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Kosciusko Financial Inc [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 207 | 403 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | LaPorte Bancorp Inc [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 1,859 | 2,071 | ||||
Allowance for Loan Losses | 0 | 0 | ||||
Carrying Amount | 1,859 | 2,071 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | LaPorte Bancorp Inc [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 855 | 1,034 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | LaPorte Bancorp Inc [Member] | Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 974 | 1,004 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | LaPorte Bancorp Inc [Member] | Consumer [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 30 | 33 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Lafayette Community Bancorp [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 3,481 | 4,271 | ||||
Allowance for Loan Losses | 0 | 0 | ||||
Carrying Amount | 3,481 | 4,271 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Lafayette Community Bancorp [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 3,481 | 4,271 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Wolverine Bancorp Inc [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | 10,020 | 16,697 | ||||
Allowance for Loan Losses | 0 | 0 | ||||
Carrying Amount | 10,020 | 16,697 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | Wolverine Bancorp Inc [Member] | Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding balance | $ 10,020 | $ 16,697 |
Accounting for Certain Loans 57
Accounting for Certain Loans Acquired in a Transfer - Accretable Yield or Income Expected to be Collected (Detail) - Loans Purchased With Evidence of Credit Deterioration [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | $ 5,165 | $ 3,457 |
Additions | 0 | 0 |
Accretion | (931) | (845) |
Reclassification from nonaccretable difference | 0 | 0 |
Disposals | (888) | (180) |
Ending balance | 3,346 | 2,432 |
Heartland [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 452 | 557 |
Additions | 0 | 0 |
Accretion | (68) | (67) |
Reclassification from nonaccretable difference | 0 | 0 |
Disposals | (193) | (6) |
Ending balance | 191 | 484 |
Summit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 147 | 502 |
Additions | 0 | 0 |
Accretion | (34) | (182) |
Reclassification from nonaccretable difference | 0 | 0 |
Disposals | (6) | (2) |
Ending balance | 107 | 318 |
Peoples Bancorp Inc [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 389 | |
Additions | 0 | |
Accretion | (388) | |
Reclassification from nonaccretable difference | 0 | |
Disposals | (1) | |
Kosciusko Financial Inc [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 386 | 530 |
Additions | 0 | 0 |
Accretion | (40) | (58) |
Reclassification from nonaccretable difference | 0 | 0 |
Disposals | (18) | |
Ending balance | 346 | 454 |
LaPorte Bancorp Inc [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 980 | 1,479 |
Additions | 0 | 0 |
Accretion | (75) | (150) |
Reclassification from nonaccretable difference | 0 | 0 |
Disposals | (7) | (153) |
Ending balance | 898 | $ 1,176 |
Lafayette Community Bancorp [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 933 | |
Additions | 0 | |
Accretion | (176) | |
Reclassification from nonaccretable difference | 0 | |
Disposals | (2) | |
Ending balance | 755 | |
Wolverine Bancorp Inc [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 2,267 | |
Additions | 0 | |
Accretion | (538) | |
Reclassification from nonaccretable difference | 0 | |
Disposals | (680) | |
Ending balance | $ 1,049 |
Accounting for Certain Loans 58
Accounting for Certain Loans Acquired in a Transfer - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Business Acquisition [Line Items] | ||||
Total provision charged to operating expense | $ 635,000 | $ 330,000 | $ 1,202,000 | $ 660,000 |
Loans Purchased With Evidence of Credit Deterioration [Member] | ||||
Business Acquisition [Line Items] | ||||
Total provision charged to operating expense | $ 0 | $ 71,000 |
Allowance for Loan Losses - Add
Allowance for Loan Losses - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2018 | |
Minimum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Actual loss history experienced by the Company | 1 year |
Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Actual loss history experienced by the Company | 5 years |
Allowance for loan losses charge down family first and junior lien mortgages past due period | 180 days |
Allowance for loan losses charge down unsecured open end loans past due period | 90 days |
Allowance for loan losses charge down other secured loans past due period | 90 days |
Allowance for Loan Losses - All
Allowance for Loan Losses - Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of the period | $ 16,474 | $ 15,054 | $ 16,394 | $ 14,837 |
Total loans charged-off | 417 | 609 | 1,133 | 1,020 |
Total loan recoveries | 379 | 252 | 608 | 550 |
Net loans charged-off | 38 | 357 | 525 | 470 |
Total provision charged to operating expense | 635 | 330 | 1,202 | 660 |
Balance at the end of the period | 17,071 | 15,027 | 17,071 | 15,027 |
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 255 | 13 | 260 | |
Total loan recoveries | 40 | 36 | 91 | 171 |
Total provision charged to operating expense | 985 | 41 | (306) | 928 |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 13 | |||
Total loan recoveries | 1 | 12 | 1 | |
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loan recoveries | 12 | 3 | 17 | 25 |
Commercial [Member] | Residential Spec Homes [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loan recoveries | 2 | 2 | 4 | 4 |
Commercial [Member] | Development & Spec Land [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 1 | 1 | ||
Commercial [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 254 | 259 | ||
Total loan recoveries | 26 | 30 | 58 | 141 |
Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 3 | 1 | 15 | 52 |
Total loan recoveries | 5 | 9 | 11 | 22 |
Total provision charged to operating expense | (117) | 93 | (369) | (474) |
Real Estate [Member] | Residential Mortgage [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 3 | 1 | 15 | 52 |
Total loan recoveries | 5 | 9 | 11 | 22 |
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 414 | 353 | 1,105 | 708 |
Total loan recoveries | 334 | 207 | 506 | 357 |
Total provision charged to operating expense | (233) | 196 | 1,877 | 206 |
Consumer [Member] | Direct Installment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 49 | 9 | 104 | 29 |
Total loan recoveries | 21 | 16 | 32 | 32 |
Consumer [Member] | Indirect Installment [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 365 | 323 | 870 | 608 |
Total loan recoveries | 132 | 152 | 271 | 265 |
Consumer [Member] | Home Equity Loan [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Total loans charged-off | 21 | 131 | 71 | |
Total loan recoveries | $ 181 | $ 39 | $ 203 | $ 60 |
Allowance for Loan Losses - A61
Allowance for Loan Losses - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total ending allowance balance | $ 17,071 | $ 16,474 | $ 16,394 | $ 15,027 | $ 15,054 | $ 14,837 |
Total ending loans balance | 8,999 | $ 3,640 | ||||
Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Total ending allowance balance | 0 | 0 | ||||
Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Individually evaluated for impairment | 184 | 184 | ||||
Allowance For Loan Losses, Collectively evaluated for impairment | 16,887 | 16,210 | ||||
Total ending allowance balance | 17,071 | 16,394 | ||||
Allowance for Loan Losses [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Commercial [Member] | Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Individually evaluated for impairment | 184 | 184 | ||||
Allowance For Loan Losses, Collectively evaluated for impairment | 8,681 | 8,909 | ||||
Total ending allowance balance | 8,865 | 9,093 | ||||
Commercial [Member] | Allowance for Loan Losses [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Real Estate [Member] | Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Collectively evaluated for impairment | 1,761 | 2,188 | ||||
Total ending allowance balance | 1,761 | 2,188 | ||||
Real Estate [Member] | Allowance for Loan Losses [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Consumer [Member] | Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Collectively evaluated for impairment | 5,361 | 4,083 | ||||
Total ending allowance balance | 5,361 | 4,083 | ||||
Consumer [Member] | Allowance for Loan Losses [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Individually evaluated for impairment | 8,999 | 7,187 | ||||
Loans: Collectively evaluated for impairment | 2,924,580 | 2,834,034 | ||||
Total ending loans balance | 2,933,579 | 2,841,221 | ||||
Loans [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Loans [Member] | Commercial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Individually evaluated for impairment | 8,999 | 7,187 | ||||
Loans: Collectively evaluated for impairment | 1,669,122 | 1,667,942 | ||||
Total ending loans balance | 1,678,121 | 1,675,129 | ||||
Loans [Member] | Commercial [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Loans [Member] | Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Collectively evaluated for impairment | 636,503 | 608,575 | ||||
Total ending loans balance | 636,503 | 608,575 | ||||
Loans [Member] | Real Estate [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Loans [Member] | Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Collectively evaluated for impairment | 509,459 | 462,529 | ||||
Total ending loans balance | 509,459 | 462,529 | ||||
Loans [Member] | Consumer [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Mortgage Warehousing [Member] | Allowance for Loan Losses [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Collectively evaluated for impairment | 1,084 | 1,030 | ||||
Total ending allowance balance | 1,084 | 1,030 | ||||
Mortgage Warehousing [Member] | Allowance for Loan Losses [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance For Loan Losses, Loans acquired with deteriorated credit quality | 0 | 0 | ||||
Mortgage Warehousing [Member] | Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans: Collectively evaluated for impairment | 109,496 | 94,988 | ||||
Total ending loans balance | 109,496 | 94,988 | ||||
Mortgage Warehousing [Member] | Loans [Member] | Loans Purchased With Evidence of Credit Deterioration [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Loans acquired with deteriorated credit quality | $ 0 | $ 0 |
Non-performing Loans and Impa62
Non-performing Loans and Impaired Loans - Non-accrual, Loans Past Due Over 90 Days Still on Accrual, and Troubled Debt Restructured ("TDRs") by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | $ 12,555 | $ 13,276 |
Loans Past Due Over 90 Days Still Accruing | 49 | 167 |
Non-Performing TDRs | 894 | 1,013 |
Performing TDRs | 1,911 | 1,958 |
Total Non-Performing Loans | 15,409 | 16,414 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 8,682 | 6,902 |
Non-Performing TDRs | 305 | 451 |
Performing TDRs | 1 | |
Total Non-Performing Loans | 8,987 | 7,354 |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 5,629 | 4,877 |
Non-Performing TDRs | 11 | |
Performing TDRs | 1 | |
Total Non-Performing Loans | 5,629 | 4,889 |
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 1,038 | 115 |
Non-Performing TDRs | 305 | 440 |
Total Non-Performing Loans | 1,343 | 555 |
Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 72 | 176 |
Total Non-Performing Loans | 72 | 176 |
Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 1,943 | 1,734 |
Total Non-Performing Loans | 1,943 | 1,734 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 1,823 | 3,693 |
Loans Past Due Over 90 Days Still Accruing | 11 | |
Non-Performing TDRs | 440 | 351 |
Performing TDRs | 1,641 | 1,672 |
Total Non-Performing Loans | 3,915 | 5,716 |
Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 1,823 | 3,693 |
Loans Past Due Over 90 Days Still Accruing | 11 | |
Non-Performing TDRs | 440 | 351 |
Performing TDRs | 1,641 | 1,450 |
Total Non-Performing Loans | 3,915 | 5,494 |
Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Performing TDRs | 222 | |
Total Non-Performing Loans | 222 | |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 2,050 | 2,681 |
Loans Past Due Over 90 Days Still Accruing | 38 | 167 |
Non-Performing TDRs | 149 | 211 |
Performing TDRs | 270 | 285 |
Total Non-Performing Loans | 2,507 | 3,344 |
Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 54 | 160 |
Total Non-Performing Loans | 54 | 160 |
Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 619 | 1,041 |
Loans Past Due Over 90 Days Still Accruing | 38 | 167 |
Total Non-Performing Loans | 657 | 1,208 |
Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual | 1,377 | 1,480 |
Non-Performing TDRs | 149 | 211 |
Performing TDRs | 270 | 285 |
Total Non-Performing Loans | $ 1,796 | $ 1,976 |
Non-performing Loans and Impa63
Non-performing Loans and Impaired Loans - Additional Information (Detail) | 6 Months Ended | |
Jun. 30, 2018USD ($)ConsecutivePaymentContract | Dec. 31, 2017USD ($) | |
Financing Receivable, Modifications [Line Items] | ||
Non-accrual loans | $ 12,555,000 | $ 13,276,000 |
Non-performing TDRs | $ 894,000 | |
Loan delinquency period | 90 days | |
Minimum period required for satisfactory performance to return loan from non-accrual to accrual status | 6 months | |
Restructured loan reported in TDRs | $ 2,800,000 | |
Restructured loan returned to accruing status number of Consecutive Payments of loan | ConsecutivePayment | 6 | |
Specific reserves allocated to troubled debt restructuring | $ 70,000 | |
Number TDRs returned to accrual status | Contract | 32,000 | |
Performing Financing Receivable [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Restructured loan reported in TDRs | $ 1,900,000 | |
Principal Forgiveness [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Restructured loan reported in TDRs | 0 | |
Loans Purchased With Evidence of Credit Deterioration [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Non-accrual loans | 2,000,000 | |
Non-performing TDRs | $ 0 | |
Minimum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loan delinquency period | 90 days | |
Delay or shortfall in payments of loan | 30 days | |
Loans with an aggregate credit exposure | $ 1,000,000 | |
Loans classified as TDR after a period | 90 days | |
Minimum [Member] | Good Pass [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of consecutive years of profit Unaudited Financial Information for Good Pass Rating | 5 years | |
Number of years of Satisfactory Relationship with bank for Good Pass Rating | 5 years | |
Number of consecutive years of profit for Good Pass Rating | 3 years | |
Minimum [Member] | Satisfactory Pass [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Minimum number of years of Satisfactory Repayment required for Satisfactory Pass Rating | 2 years | |
Maximum [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Loans with an aggregate credit exposure | $ 3,500,000 | |
Loans classified as TDR after a period | 120 days |
Non-performing Loans and Impa64
Non-performing Loans and Impaired Loans - Commercial Loans Individually Evaluated for Impairment by Class of Loan (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance total | $ 8,988 | $ 3,639 | $ 8,988 | $ 3,639 |
Total ending loans balance | 8,999 | 3,640 | 8,999 | 3,640 |
Allowance For Loan Loss Allocated | 184 | 184 | ||
Average Balance in Impaired Loans total | 9,720 | 3,262 | 9,706 | 2,518 |
Cash/Accrual Interest Income Recognized, Total | 71 | 40 | 113 | 40 |
Commercial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 8,124 | 3,639 | 8,124 | 3,639 |
Recorded Investment With no recorded allowance | 8,135 | 3,640 | 8,135 | 3,640 |
Allowance For Loan Loss Allocated With no recorded allowance | 0 | 0 | 0 | 0 |
Average Balance in Impaired Loans With no recorded allowance | 8,849 | 3,262 | 8,821 | 2,518 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 71 | 40 | 113 | 40 |
Unpaid Principal Balance With an allowance recorded | 864 | 864 | ||
Recorded Investment With an allowance recorded | 864 | 864 | ||
Allowance For Loan Loss Allocated | 184 | 184 | ||
Average Balance in Impaired Loans With an allowance recorded | 871 | 885 | ||
Cash/Accrual Interest Income Recognized, With an allowance recorded | 0 | 0 | 0 | 0 |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 4,765 | 1,591 | 4,765 | 1,591 |
Recorded Investment With no recorded allowance | 4,762 | 1,592 | 4,762 | 1,592 |
Allowance For Loan Loss Allocated With no recorded allowance | 0 | 0 | 0 | 0 |
Average Balance in Impaired Loans With no recorded allowance | 5,271 | 1,538 | 5,303 | 1,233 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 59 | 22 | 96 | 22 |
Unpaid Principal Balance With an allowance recorded | 864 | 864 | ||
Recorded Investment With an allowance recorded | 864 | 864 | ||
Allowance For Loan Loss Allocated | 184 | 184 | ||
Average Balance in Impaired Loans With an allowance recorded | 871 | 885 | ||
Cash/Accrual Interest Income Recognized, With an allowance recorded | 0 | 0 | 0 | 0 |
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 1,344 | 467 | 1,344 | 467 |
Recorded Investment With no recorded allowance | 1,360 | 467 | 1,360 | 467 |
Allowance For Loan Loss Allocated With no recorded allowance | 0 | 0 | 0 | 0 |
Average Balance in Impaired Loans With no recorded allowance | 1,591 | 471 | 1,559 | 432 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 5 | 2 | 10 | 2 |
Cash/Accrual Interest Income Recognized, With an allowance recorded | 0 | 0 | 0 | 0 |
Commercial [Member] | Residential Spec Homes [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Allowance For Loan Loss Allocated With no recorded allowance | 0 | 0 | 0 | 0 |
Cash/Accrual Interest Income Recognized, With an allowance recorded | 0 | 0 | 0 | 0 |
Commercial [Member] | Development & Spec Land [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 72 | 107 | 72 | 107 |
Recorded Investment With no recorded allowance | 70 | 107 | 70 | 107 |
Allowance For Loan Loss Allocated With no recorded allowance | 0 | 0 | 0 | 0 |
Average Balance in Impaired Loans With no recorded allowance | 71 | 230 | 73 | 234 |
Cash/Accrual Interest Income Recognized, With an allowance recorded | 0 | 0 | 0 | 0 |
Commercial [Member] | Commercial and Industrial [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Unpaid Principal Balance With no recorded allowance | 1,943 | 1,474 | 1,943 | 1,474 |
Recorded Investment With no recorded allowance | 1,943 | 1,474 | 1,943 | 1,474 |
Allowance For Loan Loss Allocated With no recorded allowance | 0 | 0 | 0 | 0 |
Average Balance in Impaired Loans With no recorded allowance | 1,916 | 1,023 | 1,886 | 619 |
Cash/Accrual Interest Income Recognized, With no recorded allowance | 7 | 16 | 7 | 16 |
Cash/Accrual Interest Income Recognized, With an allowance recorded | $ 0 | $ 0 | $ 0 | $ 0 |
Non-performing Loans and Impa65
Non-performing Loans and Impaired Loans - Payment Status by Class of Loan (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 6,640 | $ 9,496 |
Loans Not Past Due | 2,913,248 | 2,816,206 |
Total | $ 2,919,888 | $ 2,825,702 |
Total Past Due, Percentage of Total Loans | 0.23% | 0.34% |
Loans Not Past Due, Percentage of Total Loans | 99.77% | 99.66% |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 3,113 | $ 4,749 |
Loans Not Past Due | 1,665,284 | 1,659,318 |
Total | 1,668,397 | 1,664,067 |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,035 | 3,563 |
Loans Not Past Due | 590,238 | 568,419 |
Total | 591,273 | 571,982 |
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 937 | 634 |
Loans Not Past Due | 677,976 | 678,311 |
Total | 678,913 | 678,945 |
Commercial [Member] | Residential Spec Homes [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Not Past Due | 11,614 | 16,431 |
Total | 11,614 | 16,431 |
Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 31 | |
Loans Not Past Due | 34,384 | 48,807 |
Total | 34,384 | 48,838 |
Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,141 | 521 |
Loans Not Past Due | 351,072 | 347,350 |
Total | 352,213 | 347,871 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,135 | 1,360 |
Loans Not Past Due | 740,337 | 697,533 |
Total | 741,472 | 698,893 |
Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,135 | 1,297 |
Loans Not Past Due | 609,736 | 587,061 |
Total | 610,871 | 588,358 |
Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 63 | |
Loans Not Past Due | 21,585 | 15,964 |
Total | 21,585 | 16,027 |
Real Estate [Member] | Mortgage Warehousing [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans Not Past Due | 109,016 | 94,508 |
Total | 109,016 | 94,508 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,392 | 3,387 |
Loans Not Past Due | 507,627 | 459,355 |
Total | 510,019 | 462,742 |
Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 104 | 88 |
Loans Not Past Due | 38,961 | 37,753 |
Total | 39,065 | 37,841 |
Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,807 | 2,270 |
Loans Not Past Due | 274,510 | 225,053 |
Total | 276,317 | 227,323 |
Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 481 | 1,029 |
Loans Not Past Due | 194,156 | 196,549 |
Total | 194,637 | 197,578 |
30 - 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 3,978 | $ 6,426 |
Total Past Due, Percentage of Total Loans | 0.14% | 0.23% |
30 - 59 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 1,114 | $ 2,676 |
30 - 59 Days Past Due [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 897 | 1,613 |
30 - 59 Days Past Due [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 42 | 512 |
30 - 59 Days Past Due [Member] | Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 31 | |
30 - 59 Days Past Due [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 175 | 520 |
30 - 59 Days Past Due [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 822 | 1,311 |
30 - 59 Days Past Due [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 822 | 1,248 |
30 - 59 Days Past Due [Member] | Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 63 | |
30 - 59 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,042 | 2,439 |
30 - 59 Days Past Due [Member] | Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 78 | 78 |
30 - 59 Days Past Due [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,513 | 1,859 |
30 - 59 Days Past Due [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 451 | 502 |
60 - 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 2,613 | $ 2,903 |
Total Past Due, Percentage of Total Loans | 0.09% | 0.10% |
60 - 89 Days Past Due [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 1,999 | $ 2,073 |
60 - 89 Days Past Due [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 138 | 1,950 |
60 - 89 Days Past Due [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 895 | 122 |
60 - 89 Days Past Due [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 966 | 1 |
60 - 89 Days Past Due [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 302 | 49 |
60 - 89 Days Past Due [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 302 | 49 |
60 - 89 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 312 | 781 |
60 - 89 Days Past Due [Member] | Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 26 | 10 |
60 - 89 Days Past Due [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 256 | 244 |
60 - 89 Days Past Due [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 30 | 527 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 49 | $ 167 |
Total Past Due, Percentage of Total Loans | 0.00% | 0.01% |
Greater than 90 Days Past Due [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 11 | |
Greater than 90 Days Past Due [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 11 | |
Greater than 90 Days Past Due [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 38 | $ 167 |
Greater than 90 Days Past Due [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 38 | $ 167 |
Non-performing Loans and Impa66
Non-performing Loans and Impaired Loans - Loans by Credit Grades (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 2,919,888 | $ 2,825,702 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,668,397 | 1,664,067 |
Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 591,273 | 571,982 |
Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 678,913 | 678,945 |
Commercial [Member] | Residential Spec Homes [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 11,614 | 16,431 |
Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 34,384 | 48,838 |
Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 352,213 | 347,871 |
Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 741,472 | 698,893 |
Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 610,871 | 588,358 |
Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 21,585 | 16,027 |
Real Estate [Member] | Mortgage Warehousing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 109,016 | 94,508 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 510,019 | 462,742 |
Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 39,065 | 37,841 |
Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 276,317 | 227,323 |
Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 194,637 | 197,578 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 2,862,424 | $ 2,758,720 |
Percentage of total loans | 98.03% | 97.63% |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 1,617,344 | $ 1,606,145 |
Pass [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 569,089 | 545,158 |
Pass [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 667,031 | 670,074 |
Pass [Member] | Commercial [Member] | Residential Spec Homes [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 11,614 | 16,431 |
Pass [Member] | Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 34,168 | 47,726 |
Pass [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 335,442 | 326,756 |
Pass [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 737,568 | 693,177 |
Pass [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 606,967 | 582,864 |
Pass [Member] | Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 21,585 | 15,805 |
Pass [Member] | Real Estate [Member] | Mortgage Warehousing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 109,016 | 94,508 |
Pass [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 507,512 | 459,398 |
Pass [Member] | Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 39,011 | 37,681 |
Pass [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 275,660 | 226,115 |
Pass [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 192,841 | 195,602 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 16,523 | $ 20,820 |
Percentage of total loans | 0.57% | 0.74% |
Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 16,523 | $ 20,820 |
Special Mention [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,772 | 8,622 |
Special Mention [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,888 | 3,864 |
Special Mention [Member] | Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 144 | 886 |
Special Mention [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 4,719 | 7,448 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 40,941 | $ 46,162 |
Percentage of total loans | 1.40% | 1.63% |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 34,530 | $ 37,102 |
Substandard [Member] | Commercial [Member] | Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 16,412 | 18,202 |
Substandard [Member] | Commercial [Member] | Non Owner Occupied Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,994 | 5,007 |
Substandard [Member] | Commercial [Member] | Development & Spec Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 72 | 226 |
Substandard [Member] | Commercial [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 12,052 | 13,667 |
Substandard [Member] | Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,904 | 5,716 |
Substandard [Member] | Real Estate [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,904 | 5,494 |
Substandard [Member] | Real Estate [Member] | Residential Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 222 | |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,507 | 3,344 |
Substandard [Member] | Consumer [Member] | Direct Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 54 | 160 |
Substandard [Member] | Consumer [Member] | Indirect Installment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 657 | 1,208 |
Substandard [Member] | Consumer [Member] | Home Equity Loan [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 1,796 | $ 1,976 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Percentage of total loans | 0.00% | 0.00% |
Repurchase Agreements - Summary
Repurchase Agreements - Summary of Repurchase Agreements Accounted as Secured Borrowings (Detail) $ in Thousands | Jun. 30, 2018USD ($) |
Assets Sold under Agreements to Repurchase [Line Items] | |
Repurchase Agreements | $ 43,702 |
Securities pledged for Repurchase Agreements, Total | 65,552 |
Federal Agency Collateralized Mortgage Obligations [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities pledged for Repurchase Agreements, Total | 34,344 |
Federal Agency Mortgage-backed Pools [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities pledged for Repurchase Agreements, Total | 31,208 |
Remaining Contractual Maturity of the Agreements, Overnight and Continuous [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Repurchase Agreements | 43,702 |
Securities pledged for Repurchase Agreements, Total | 65,552 |
Remaining Contractual Maturity of the Agreements, Overnight and Continuous [Member] | Federal Agency Collateralized Mortgage Obligations [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities pledged for Repurchase Agreements, Total | 34,344 |
Remaining Contractual Maturity of the Agreements, Overnight and Continuous [Member] | Federal Agency Mortgage-backed Pools [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities pledged for Repurchase Agreements, Total | $ 31,208 |
Derivative Financial Instrume68
Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Derivative [Line Items] | ||
LIBOR period | 3 months | |
Weighted average fixed rate | 5.81% | |
Recorded period of effectiveness of cash flow hedges on net income | 12 months | |
Recorded period of effectiveness of fair value hedges on net income | 12 months | |
Recorded period of effectiveness of fair value of derivatives on net income | 12 months | |
LaPorte Bancorp Inc [Member] | ||
Derivative [Line Items] | ||
LIBOR period | 1 month | |
Weighted average fixed rate | 2.31% | |
Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Notional amount of interest | $ 30.5 | $ 30.5 |
Cash Flow Hedging [Member] | LaPorte Bancorp Inc [Member] | ||
Derivative [Line Items] | ||
Notional amount of interest | 30 | 30 |
Derivative in Fair Value Hedging Relationship [Member] | ||
Derivative [Line Items] | ||
Notional amount of interest | $ 155.7 | $ 154.6 |
Derivative Financial Instrume69
Derivative Financial Instruments - Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | $ 3,836 | $ 954 |
Total Liability Derivatives | 4,552 | 2,542 |
Derivatives Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | 3,579 | 811 |
Total Liability Derivatives | 4,548 | 2,539 |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Contracts One [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Liability Derivatives | 3,579 | 811 |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Contracts Two [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Liability Derivatives | 969 | 1,728 |
Derivatives Designated as Hedging Instruments [Member] | Interest Rate Contracts Two [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | 3,579 | 811 |
Derivatives Not Designated as Hedging Instruments [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | 257 | 143 |
Total Liability Derivatives | 4 | 3 |
Derivatives Not Designated as Hedging Instruments [Member] | Mortgage Loan Contracts [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Liability Derivatives | 4 | 3 |
Derivatives Not Designated as Hedging Instruments [Member] | Mortgage Loan Contracts [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Total Asset Derivatives | $ 257 | $ 143 |
Derivative Financial Instrume70
Derivative Financial Instruments - Effect of Derivative Instruments on Condensed Consolidated Statements of Income Derivative in Cash Flow Hedging Relationship (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Comprehensive Income on Derivative (Effective Portion) | $ 354 | $ 46 | $ 1,113 | $ 446 |
Cash Flow Hedging [Member] | Interest Rate Contracts One [Member] | ||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
Comprehensive Income on Derivative (Effective Portion) | $ 279 | $ 30 | $ 879 | $ 290 |
Derivative Financial Instrume71
Derivative Financial Instruments - Effect of Derivative Instruments on Consolidated Statements of Income Derivative in Fair Value Hedging Relationship (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest Income - Loans [Member] | Derivative in Fair Value Hedging Relationship [Member] | Interest Rate Contracts One [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized on Derivative | $ 2,768 | $ 679 | $ 574 | $ 426 |
Interest Income - Loans [Member] | Derivative in Fair Value Hedging Relationship [Member] | Interest Rate Contracts Two [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized on Derivative | (2,768) | (679) | (574) | (426) |
Derivatives Not Designated as Hedging Instruments [Member] | Other income - Gain on Sale of Loans [Member] | Mortgage Loan Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of Gain (Loss) Recognized on Derivative | $ 112 | $ (153) | $ 195 | $ (212) |
Disclosures about Fair Value 72
Disclosures about Fair Value of Assets and Liabilities - Fair Value Measurements of Assets and Liabilities Recognized on a Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | $ 526,195 | $ 509,665 |
U.S. Treasury and Federal Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 24,219 | 19,052 |
State and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 134,981 | 149,564 |
Federal Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 164,134 | 130,365 |
Federal Agency Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 196,995 | 208,657 |
Corporate Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 5,866 | 385 |
Private Labeled Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 1,642 | |
Recurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 526,195 | 509,665 |
Recurring Basis [Member] | U.S. Treasury and Federal Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 24,219 | 19,052 |
Recurring Basis [Member] | State and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 134,981 | 149,564 |
Recurring Basis [Member] | Federal Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 164,134 | 130,365 |
Recurring Basis [Member] | Federal Agency Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 196,995 | 208,657 |
Recurring Basis [Member] | Corporate Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 5,866 | 385 |
Recurring Basis [Member] | Private Labeled Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 1,642 | |
Recurring Basis [Member] | Hedged Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 155,742 | 154,575 |
Recurring Basis [Member] | Forward Sale Commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 344 | 143 |
Recurring Basis [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 3,939 | (917) |
Recurring Basis [Member] | Commitments To Originate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | (21) | (3) |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 526,195 | 509,665 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Treasury and Federal Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 24,219 | 19,052 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | State and Municipal [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 134,981 | 149,564 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Collateralized Mortgage Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 164,134 | 130,365 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Federal Agency Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 196,995 | 208,657 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 5,866 | 385 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Private Labeled Mortgage-backed Pools [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities, Fair Value | 1,642 | |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Hedged Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 155,742 | 154,575 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Forward Sale Commitments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 344 | 143 |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Swap [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | 3,939 | (917) |
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Commitments To Originate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, fair value | $ (21) | $ (3) |
Disclosures about Fair Value 73
Disclosures about Fair Value of Assets and Liabilities - Realized Gains and Losses included in Net Income for Periods in Condensed Consolidated Statements of Income (Detail) - Non Interest Income Total Gains and Losses [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Included in net income | $ 71 | $ (153) | $ 183 | $ (212) |
Hedged Loans [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Included in net income | 976 | 679 | 3,744 | 426 |
Interest Rate Swap [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Included in net income | (976) | (679) | (3,744) | (426) |
Derivative Loan Commitments [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Included in net income | $ 71 | $ (153) | $ 183 | $ (212) |
Disclosures about Fair Value 74
Disclosures about Fair Value of Assets and Liabilities - Other Assets Measured at Fair Value on Non-recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | $ 11,670 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 11,670 | |
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 8,804 | $ 6,957 |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 11,670 | 11,602 |
Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 8,804 | 6,957 |
Fair Value, Measurements, Nonrecurring [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | 11,602 | |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | $ 8,804 | 6,957 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impaired loans | $ 11,602 |
Disclosures about Fair Value 75
Disclosures about Fair Value of Assets and Liabilities - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | ||
Reduced in carrying amount of mortgage servicing rights | $ 24,000 | $ 23,000 |
Disclosures about Fair Value 76
Disclosures about Fair Value of Assets and Liabilities - Qualitative Information about Unobservable Inputs Used in Recurring and Non-recurring Level 3 Fair Value Measurements, Other than Goodwill (Detail) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 11,670 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | 11,670 | |
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 8,804 | $ 6,957 |
Valuation Technique | Collateral based measurement | |
Impaired loans | Discount to reflect current market conditions and ultimate collectability | |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 11,670 | $ 11,602 |
Valuation Technique | Discounted cash flows | |
Impaired loans | Discount rate, Constant prepayment rate, Probability of default | |
Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Discount to reflect current market conditions and ultimate collectability | 0.00% | 0.00% |
Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 10.3 | 9.6 |
Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 8.3 | 9.2 |
Minimum [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 0.1 | 0 |
Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Discount to reflect current market conditions and ultimate collectability | 54.80% | 46.80% |
Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 11.3 | 10.8 |
Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 16.5 | 27.7 |
Maximum [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 1.7 | 1.5 |
Weighted Average [Member] | Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Discount to reflect current market conditions and ultimate collectability | 2.00% | 2.60% |
Weighted Average [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 10.3 | 9.7 |
Weighted Average [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 8.6 | 10.5 |
Weighted Average [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage Servicing Rights [Member] | Measurement Input, Default Rate [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable inputs | 0.6 | 0.2 |
Fair Value of Financial Instr77
Fair Value of Financial Instruments - Summary of Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 69,018 | $ 76,441 |
Investment securities, held to maturity | 209,767 | 200,448 |
Loans held for sale | 3,000 | 3,094 |
Loans (excluding loan level hedges), net | 2,916,508 | 2,824,827 |
Stock in FHLB | 18,105 | 18,105 |
Interest receivable | 12,993 | 16,244 |
Liabilities | ||
Non-interest bearing deposits | 615,018 | 601,805 |
Interest bearing deposits | 2,401,145 | 2,279,198 |
Borrowings | 524,846 | 564,157 |
Subordinated debentures | 37,745 | 37,653 |
Interest payable | 1,441 | 886 |
Carrying Amount [Member] | ||
Assets | ||
Cash and due from banks | 69,018 | 76,441 |
Investment securities, held to maturity | 209,767 | 200,448 |
Loans held for sale | 3,000 | 3,094 |
Loans (excluding loan level hedges), net | 2,751,703 | 2,661,026 |
Stock in FHLB | 18,105 | 18,105 |
Interest receivable | 12,993 | 16,244 |
Liabilities | ||
Non-interest bearing deposits | 615,018 | 601,805 |
Interest bearing deposits | 2,401,145 | 2,279,198 |
Borrowings | 524,846 | 564,157 |
Subordinated debentures | 37,745 | 37,653 |
Interest payable | 1,441 | 886 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Assets | ||
Cash and due from banks | 69,018 | 76,441 |
Liabilities | ||
Non-interest bearing deposits | 615,018 | 601,805 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Assets | ||
Investment securities, held to maturity | 206,730 | 201,085 |
Stock in FHLB | 18,105 | 18,105 |
Interest receivable | 12,993 | 16,244 |
Liabilities | ||
Interest bearing deposits | 2,263,817 | 2,156,487 |
Borrowings | 520,701 | 560,057 |
Subordinated debentures | 35,682 | 35,994 |
Interest payable | 1,441 | 886 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Assets | ||
Loans held for sale | 3,000 | 3,094 |
Loans (excluding loan level hedges), net | $ 2,585,501 | $ 2,585,879 |
Accumulated Other Comprehensi78
Accumulated Other Comprehensive Income - Components of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Tax effect | $ 2,817 | $ 1,914 |
Total accumulated other comprehensive loss | (10,587) | (3,551) |
Unrealized Gain (Loss) on Securities Available for Sale [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), before tax | (12,891) | (3,937) |
Unamortized Gain on Securities Held to Maturity, Previously Transferred from AFS [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), before tax | 102 | 200 |
Unrealized Loss on Derivative Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Accumulated other comprehensive income (loss), before tax | $ (615) | $ (1,728) |
Regulatory Capital - Summary of
Regulatory Capital - Summary of Regulatory Capital Requirement (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual, Amount | $ 403,480 | $ 384,800 |
Total capital (to risk-weighted assets), Actual, Ratio | 13.07% | 12.91% |
Total capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 246,952 | $ 238,543 |
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 285,539 | $ 275,816 |
Total capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 9.25% | 9.25% |
Tier 1 capital (to average assets), Actual, Amount | $ 386,409 | $ 368,355 |
Tier 1 capital (to average assets), Actual, Ratio | 12.52% | 12.35% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 185,214 | $ 178,907 |
Tier 1 capital (to average assets), For capital adequacy purpose, Ratio | 6.00% | 6.00% |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 223,800 | $ 216,180 |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 7.25% | 7.25% |
Common equity tier 1 capital, Actual Amount | $ 347,946 | $ 329,892 |
Common equity tier 1 capital, Actual Ratio | 11.27% | 11.06% |
Common equity tier 1 capital,For capital adequacy purposes, Amount | $ 138,910 | $ 134,181 |
Common equity tier 1 capital, For capital adequacy purpose, Ratio | 4.50% | 4.50% |
Common equity tier 1 capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 177,497 | $ 171,454 |
Common equity tier 1 capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 5.75% | 5.75% |
Tier 1 capital (to average assets), Actual, Amount | $ 386,409 | $ 368,355 |
Tier 1 capital (to average assets), Actual, Ratio | 9.94% | 9.92% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 155,556 | $ 148,503 |
Tier 1 capital (to average assets), For capital adequacy purpose, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 155,556 | $ 148,503 |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 4.00% | 4.00% |
Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Total capital (to risk-weighted assets), Actual, Amount | $ 392,814 | $ 382,788 |
Total capital (to risk-weighted assets), Actual, Ratio | 12.77% | 12.85% |
Total capital (to risk-weighted assets), For capital adequacy purposes, Amount | $ 246,109 | $ 238,386 |
Total capital (to risk-weighted assets), For capital adequacy purposes, Ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 284,563 | $ 275,634 |
Total capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 9.25% | 9.25% |
Total capital (to risk-weighted assets), For well capitalized purpose, Amount | $ 307,636 | $ 297,982 |
Total capital (to risk-weighted assets), For well capitalized purpose, Ratio | 10.00% | 10.00% |
Tier 1 capital (to average assets), Actual, Amount | $ 375,684 | $ 366,343 |
Tier 1 capital (to average assets), Actual, Ratio | 12.21% | 12.29% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 184,581 | $ 178,790 |
Tier 1 capital (to average assets), For capital adequacy purpose, Ratio | 6.00% | 6.00% |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 223,035 | $ 216,038 |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 7.25% | 7.25% |
Tier 1 capital (to average assets), For well capitalized purpose, Amount | $ 246,108 | $ 238,386 |
Tier 1 capital (to average assets), For well capitalized purposes, Ratio | 8.00% | 8.00% |
Common equity tier 1 capital, Actual Amount | $ 375,684 | $ 366,343 |
Common equity tier 1 capital, Actual Ratio | 12.21% | 12.29% |
Common equity tier 1 capital,For capital adequacy purposes, Amount | $ 138,436 | $ 134,092 |
Common equity tier 1 capital, For capital adequacy purpose, Ratio | 4.50% | 4.50% |
Common equity tier 1 capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 176,890 | $ 171,340 |
Common equity tier 1 capital (to risk-weighted assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 5.75% | 5.75% |
Common equity tier 1 capital, For well capitalized purpose, Amount | $ 199,963 | $ 193,689 |
Common equity tier 1 capital, For well capitalized purposes, Ratio | 6.50% | 6.50% |
Tier 1 capital (to average assets), Actual, Amount | $ 375,684 | $ 366,343 |
Tier 1 capital (to average assets), Actual, Ratio | 9.65% | 9.89% |
Tier 1 capital (to average assets), For capital adequacy purposes, Amount | $ 155,805 | $ 148,116 |
Tier 1 capital (to average assets), For capital adequacy purpose, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Amount | $ 155,805 | $ 148,116 |
Tier 1 capital (to average assets), Required for capital1 adequacy purposes with capital buffer, Ratio | 4.00% | 4.00% |
Tier 1 capital (to average assets), For well capitalized purpose, Amount | $ 194,756 | $ 185,145 |
Tier 1 capital (to average assets), For well capitalized purposes, Ratio | 5.00% | 5.00% |