Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 08, 2017 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | FCF | |
Entity Registrant Name | FIRST COMMONWEALTH FINANCIAL CORP /PA/ | |
Entity Central Index Key | 712,537 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 97,479,039 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 103,602 | $ 91,033 |
Interest-bearing bank deposits | 12,310 | 24,644 |
Securities available for sale, at fair value | 786,246 | 778,612 |
Securities held to maturity, at amortized cost (Fair value of $449,127 and $368,618 at June 30, 2017 and December 31, 2016, respectively) | 450,886 | 372,513 |
Other investments | 34,340 | 36,498 |
Loans held for sale | 9,785 | 7,052 |
Loans: | ||
Portfolio loans | 5,374,782 | 4,879,347 |
Allowance for credit losses | (48,067) | (50,185) |
Net loans | 5,326,715 | 4,829,162 |
Premises and equipment, net | 79,670 | 67,534 |
Other real estate owned | 5,964 | 6,805 |
Goodwill | 255,359 | 186,483 |
Amortizing intangibles, net | 16,671 | 12,013 |
Bank owned life insurance | 210,285 | 187,021 |
Other assets | 91,553 | 84,648 |
Total assets | 7,383,386 | 6,684,018 |
Deposits (all domestic): | ||
Noninterest-bearing | 1,404,081 | 1,268,786 |
Interest-bearing | 4,129,054 | 3,678,622 |
Total deposits | 5,533,135 | 4,947,408 |
Short-term borrowings | 846,137 | 867,943 |
Subordinated debentures | 72,167 | 72,167 |
Other long-term debt | 8,458 | 8,749 |
Capital Lease Obligations | 7,764 | 0 |
Total long-term debt | 88,389 | 80,916 |
Other liabilities | 36,260 | 37,822 |
Total liabilities | 6,503,921 | 5,934,089 |
Shareholders’ Equity | ||
Preferred stock, $1 par value per share, 3,000,000 shares authorized, none issued | 0 | 0 |
Common stock, $1 par value per share, 200,000,000 shares authorized; 113,914,902 and 105,563,455 shares issued at June 30, 2017 and December 31, 2016, respectively, and 97,483,067 and 89,007,077 shares outstanding at June 30, 2017 and December 31, 2016, respectively | 113,915 | 105,563 |
Additional paid-in capital | 470,123 | 366,426 |
Retained earnings | 427,748 | 412,764 |
Accumulated other comprehensive loss, net | (4,991) | (7,027) |
Treasury stock (16,431,835 and 16,556,378 shares at June 30, 2017 and December 31, 2016, respectively) | (127,330) | (127,797) |
Total shareholders’ equity | 879,465 | 749,929 |
Total liabilities and shareholders’ equity | $ 7,383,386 | $ 6,684,018 |
Condensed Consolidated Stateme3
Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 3,000,000 | 3,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, shares issued (in shares) | 113,914,902 | 105,563,455 |
Common stock, shares outstanding (in shares) | 97,483,067 | 88,961,268 |
Treasury stock, shares (in shares) | 16,431,835 | 16,602,187 |
Securities held to maturity, fair value | $ 449,127 | $ 368,618 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest Income | ||||
Interest and fees on loans | $ 54,913 | $ 45,698 | $ 103,213 | $ 90,732 |
Interest and dividends on investments: | ||||
Taxable interest | 7,364 | 7,028 | 14,358 | 14,174 |
Interest exempt from federal income taxes | 405 | 371 | 802 | 732 |
Dividends | 383 | 748 | 859 | 1,554 |
Interest on bank deposits | 55 | 5 | 67 | 11 |
Total interest income | 63,120 | 53,850 | 119,299 | 107,203 |
Interest Expense | ||||
Interest on deposits | 2,208 | 1,928 | 4,020 | 3,517 |
Interest on short-term borrowings | 2,197 | 2,100 | 3,946 | 4,335 |
Interest on subordinated debentures | 738 | 644 | 1,443 | 1,278 |
Interest on other long-term debt | 81 | 87 | 164 | 175 |
Total interest expense | 5,303 | 4,759 | 9,652 | 9,305 |
Net Interest Income | 57,817 | 49,091 | 109,647 | 97,898 |
Provision for credit losses | (1,609) | 10,372 | 1,620 | 16,898 |
Net Interest Income after Provision for Credit Losses | 59,426 | 38,719 | 108,027 | 81,000 |
Noninterest Income | ||||
Net securities gains | (49) | 28 | 603 | 28 |
Trust income | 1,711 | 1,320 | 3,128 | 2,575 |
Service charges on deposit accounts | 4,736 | 3,845 | 9,055 | 7,553 |
Insurance and retail brokerage commissions | 2,442 | 1,985 | 4,524 | 3,944 |
Income from bank owned life insurance | 1,449 | 1,311 | 2,741 | 2,607 |
Gain on sale of mortgage loans | 1,315 | 932 | 2,292 | 1,615 |
Gain on sale of other loans and assets | 457 | 466 | 764 | 661 |
Card-related interchange income | 4,842 | 3,784 | 9,093 | 7,341 |
Derivatives mark to market | (37) | (531) | (35) | (1,545) |
Derivative Fee Income | 314 | 800 | 241 | 1,260 |
Other income | 1,724 | 1,618 | 3,430 | 3,234 |
Total noninterest income | 18,904 | 15,558 | 35,836 | 29,273 |
Noninterest Expense | ||||
Salaries and employee benefits | 25,298 | 19,888 | 48,764 | 41,565 |
Net occupancy expense | 4,121 | 3,186 | 7,882 | 6,667 |
Furniture and equipment expense | 3,323 | 2,882 | 6,411 | 5,749 |
Data processing expense | 2,345 | 1,788 | 4,430 | 3,547 |
Marketing and Advertising Expense | 988 | 664 | 1,794 | 1,190 |
Pennsylvania shares tax expense | 1,161 | 1,092 | 1,977 | 1,850 |
Intangible amortization | 846 | 114 | 1,418 | 251 |
Collection and repossession expense | 443 | 474 | 940 | 1,043 |
Other professional fees and services | 1,096 | 873 | 2,055 | 1,664 |
FDIC insurance | 977 | 1,062 | 1,770 | 2,100 |
Loss on sale or write-down of assets | 1,220 | 345 | 1,319 | 441 |
Litigation and operational losses | 277 | 635 | 509 | 879 |
Conversion Related Expenses | 9,870 | 240 | 10,481 | 240 |
Other operating expenses | 6,298 | 4,167 | 11,278 | 8,368 |
Total noninterest expense | 58,263 | 37,410 | 101,028 | 75,554 |
Income Before Income Taxes | 20,067 | 16,867 | 42,835 | 34,719 |
Income tax provision | 6,054 | 4,860 | 12,934 | 10,239 |
Net Income | $ 14,013 | $ 12,007 | $ 29,901 | $ 24,480 |
Average Shares Outstanding (in shares) | 97,183,599 | 88,831,758 | 93,079,546 | 88,835,923 |
Average Shares Outstanding Assuming Dilution (in shares) | 97,232,288 | 88,838,614 | 93,125,939 | 88,840,683 |
Per Share Data: | ||||
Basic Earnings per Share (in dollars per share) | $ 0.14 | $ 0.14 | $ 0.32 | $ 0.28 |
Diluted Earnings per Share (in dollars per share) | 0.14 | 0.14 | 0.32 | 0.28 |
Cash Dividends Declared per Common Share (in dollars per share) | $ 0.08 | $ 0.07 | $ 0.16 | $ 0.14 |
Interest Expense, Lessee, Assets under Capital Lease | $ 79 | $ 0 | $ 79 | $ 0 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net Income | $ 14,013 | $ 12,007 | $ 29,901 | $ 24,480 |
Other comprehensive income, before tax expense: | ||||
Unrealized holding gains on securities arising during the period | 1,702 | 3,802 | 4,245 | 13,872 |
Less: reclassification adjustment for gains on securities included in net income | 49 | (28) | (603) | (28) |
Unrealized holding (losses) gains on derivatives arising during the period | (66) | 359 | (582) | 2,094 |
Less: reclassification adjustment for (gains) losses on derivatives included in net income | (5) | (26) | 73 | (41) |
Total other comprehensive income, before tax expense | 1,680 | 4,107 | 3,133 | 15,897 |
Income tax expense related to items of other comprehensive income | (588) | (1,438) | (1,097) | (5,564) |
Total other comprehensive income | 1,092 | 2,669 | 2,036 | 10,333 |
Comprehensive Income | $ 15,105 | $ 14,676 | $ 31,937 | $ 34,813 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss), net [Member] | Treasury Stock [Member] |
Beginning balance at Dec. 31, 2015 | $ 719,546 | $ 105,563 | $ 365,981 | $ 378,081 | $ (2,386) | $ (127,693) |
Beginning balance, shares at Dec. 31, 2015 | 88,961,268 | |||||
Net Income | 24,480 | 24,480 | ||||
Other comprehensive income (loss) | 10,333 | 10,333 | ||||
Dividends, declared (USD per share) | (12,451) | (12,451) | ||||
Treasury stock acquired | (902) | (902) | ||||
Treasury stock acquired, shares | (97,769) | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | 216 | 39 | 0 | 177 | ||
Stock Issued During Period, Shares, Treasury Stock Reissued | 23,148 | |||||
Restricted stock | 564 | $ 0 | 161 | 0 | 403 | |
Restricted stock, shares | 63,348 | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | 0 | |||||
Ending balance at Jun. 30, 2016 | 741,786 | $ 105,563 | 366,181 | 390,110 | 7,947 | (128,015) |
Ending balance, shares at Jun. 30, 2016 | 88,949,995 | |||||
Beginning balance at Dec. 31, 2016 | $ 749,929 | $ 105,563 | 366,426 | 412,764 | (7,027) | (127,797) |
Beginning balance, shares at Dec. 31, 2016 | 88,961,268 | 89,007,077 | ||||
Net Income | $ 29,901 | 29,901 | ||||
Other comprehensive income (loss) | 2,036 | 2,036 | ||||
Dividends, declared (USD per share) | (14,917) | (14,917) | ||||
Treasury stock acquired | (1,141) | (1,141) | ||||
Treasury stock acquired, shares | (81,696) | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,557 | 1,170 | 0 | 1,387 | ||
Stock Issued During Period, Shares, Treasury Stock Reissued | 181,211 | |||||
Restricted stock | 359 | $ 0 | 138 | 0 | 221 | |
Restricted stock, shares | 25,028 | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,258 | |||||
Conversion of Stock, Shares Issued | 8,351,447 | |||||
Ending balance at Jun. 30, 2017 | $ 879,465 | $ 113,915 | 470,123 | $ 427,748 | $ (4,991) | $ (127,330) |
Ending balance, shares at Jun. 30, 2017 | 97,483,067 | 97,483,067 | ||||
Stock Issued During Period, Value, Other | $ 110,741 | $ 8,352 | $ 102,389 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash Dividends Declared per Common Share (in dollars per share) | $ 0.08 | $ 0.07 | $ 0.16 | $ 0.14 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Proceeds from Sale of Loans Receivable | $ 8,501 | $ 213 |
Operating Activities | ||
Net Income | 29,901 | 24,480 |
Provision for credit losses | 1,620 | 16,898 |
Deferred tax expense | 3,968 | 1,909 |
Depreciation and amortization | 4,414 | 3,481 |
Net gains on securities and other assets | (2,209) | (372) |
Net amortization of premiums and discounts on securities | 1,782 | 2,264 |
Income from increase in cash surrender value of bank owned life insurance | (2,741) | (2,607) |
Decrease (increase) in interest receivable | 242 | (315) |
Mortgage loans originated for sale | (70,521) | (56,139) |
Proceeds from sale of mortgage loans | 71,464 | 55,251 |
Increase (decrease) in interest payable | 857 | (84) |
Decrease in income taxes payable | (764) | (2,534) |
Other-net | 3,729 | (4,758) |
Net cash provided by operating activities | 41,742 | 37,474 |
Investing Activities | ||
Proceeds from sale and maturity of held-to-maturity securities | 22,227 | 18,601 |
Payments to acquire held-to-maturity securities | (101,372) | (40,161) |
Proceeds from Sale of Available-for-sale Securities | 103,618 | 55,744 |
Proceeds from maturities and redemptions of available-for-sale securities | 66,189 | 82,527 |
Purchases of available-for-sale securities | (85,220) | (94,777) |
Purchases of FHLB stock | (22,329) | (20,324) |
Proceeds from the redemption of FHLB stock | 27,736 | 25,189 |
Proceeds from sale of other assets | 2,744 | 3,621 |
Increase in Restricted Cash | 3,188 | 0 |
Net increase in loans | (125,791) | (173,817) |
Payments for Purchase of Other Assets | (547) | (204) |
Purchases of premises and equipment | (3,939) | (4,201) |
Net cash used in investing activities | (104,995) | (147,589) |
Financing Activities | ||
Net decrease in federal funds purchased | 0 | (4,000) |
Net decrease in other short-term borrowings | (21,806) | (42,138) |
Net increase in deposits | 101,501 | 198,838 |
Repayments of other long-term debt | (291) | (280) |
Dividends paid | (14,917) | (12,451) |
Proceeds from Sale of Treasury Stock | 228 | 216 |
Purchase of treasury stock | (1,141) | (902) |
Net cash provided by financing activities | 63,488 | 139,283 |
Net increase in cash and cash equivalents | 235 | 29,168 |
Cash and cash equivalents at January 1 | 115,677 | 69,452 |
Cash and cash equivalents at June 30 | 115,912 | 98,620 |
Repayments of Long-term Capital Lease Obligations | $ 86 | $ 0 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accounting and reporting policies of First Commonwealth Financial Corporation and its subsidiaries (“First Commonwealth” or the “Company”) conform with generally accepted accounting principles in the United States of America (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates, assumptions and judgments that affect the amounts reported in the financial statements and accompanying notes. Actual realized amounts could differ from those estimates. In the opinion of management, the unaudited interim condensed consolidated financial statements include all adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of First Commonwealth’s financial position, results of operations, comprehensive income, cash flows and changes in shareholders’ equity as of and for the periods presented. The results of operations for the six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the full year of 2017 . These interim financial statements should be read in conjunction with First Commonwealth’s 2016 Annual Report on Form 10-K. For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, federal funds sold and interest-bearing bank deposits. Generally, federal funds are sold for one-day periods. |
Acquisition Acquisition (Notes)
Acquisition Acquisition (Notes) | 6 Months Ended |
Jun. 30, 2017 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Acquisition On April 3, 2017, the Company completed its acquisition of DCB Financial Corporation ("DCB") and its banking subsidiary, The Delaware County Bank and Trust Company, for consideration of $21.2 million in cash and 8.4 million shares of the Company's common stock. Through the acquisition, the Company obtained nine full-service banking offices which are operating under the First Commonwealth name. This acquisition expands the Company's presence in the central Ohio market and added $383.1 million in loans and $484.4 million in deposits to the Company's balance sheet. The table below summarizes the net assets acquired (at fair value) and consideration transferred in connection with the DCB acquisition (dollars in thousands): Consideration Paid Cash paid to shareholders $ 21,232 Shares issued to shareholders (8,356,882 shares) 110,812 Total consideration paid $ 132,044 Fair Value of Assets Acquired Cash and cash equivalents 24,420 Investment securities 88,986 FHLB stock 3,250 Loans 383,083 Premises and other equipment 12,143 Core deposit intangible 5,998 Other real estate 68 Bank owned life insurance 20,522 Other assets 16,436 Total assets acquired 554,906 Fair Value of Liabilities Assumed Deposits 484,366 Capital lease obligation 7,851 Other liabilities 1,182 Total liabilities assumed 493,399 Total Fair Value of Identifiable Net Assets 61,507 Goodwill $ 70,537 The goodwill of $70.5 million arising from the acquisition represents the value of synergies and economies of scale expected from combining the operations of the Company with DCB Financial Corporation. The Company determined that this acquisition constitutes a business combination as defined in FASB ASC Topic 805, “Business Combinations.” Accordingly, as of the date of the acquisition, the Company recorded the assets acquired and liabilities assumed at fair value. The Company determined fair values in accordance with the guidance provided in FASB ASC Topic 820, “Fair Value Measurements and Disclosures.” Acquired loans were recorded at fair value with no carryover of the related allowance for loan losses. Fair value is established by discounting the expected future cash flows with a market discount rate for like maturities and risk instruments. At the date of acquisition, none of the loans were accounted for under the guidance of ASC Topic 310-30, “Receivables-Loans and Debt Securities Acquired with Deteriorated Credit Quality.” We acquired $390.8 million in total loans and recognized a net combined yield and credit market adjustment of $7.7 million . The fair value of the 8,356,882 common shares issued was determined based on the market price of the Company's common shares on the acquisition date. The fair value of the acquired loans, premises and other equipment, customer deposit intangible, other assets and assumed deposits may change during the provisional period, which may last up to twelve months subsequent to the acquisition date. The Company may obtain additional information to refine the valuation of the acquired assets and liabilities and adjust the recorded fair value, although such adjustments are not expected to be significant. Adjustments recorded to the acquired assets and liabilities will be applied prospectively in accordance with ASU No. 2015-16, “Business Combinations.” Costs related to the acquisition totaled $10.3 million . These amounts were expensed as incurred and are recorded as a merger and acquisition related expense in the Condensed Consolidated Statements of Income. As a result of the full integration of the operations of DCB, it is not practicable to determine revenue or net income included in the Company's operating results relating to DCB since the date of acquisition as DCB’s results cannot be separately identified. |
Supplemental Comprehensive Inco
Supplemental Comprehensive Income Disclosures | 6 Months Ended |
Jun. 30, 2017 | |
Supplemental Comprehensive Income Disclosures [Abstract] | |
Supplemental Comprehensive Income Disclosures | Supplemental Comprehensive Income Disclosures The following table identifies the related tax effects allocated to each component of other comprehensive income (“OCI”) in the Condensed Consolidated Statements of Comprehensive Income. Reclassification adjustments related to securities available for sale are included in the "Net securities (losses) gains" line and reclassification adjustments related to losses on derivatives are included in the "Other operating expenses" line in the Condensed Consolidated Statements of Income. For the Six Months Ended June 30, 2017 2016 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains on securities: Unrealized holding gains on securities arising during the period $ 4,245 $ (1,486 ) $ 2,759 $ 13,872 $ (4,855 ) $ 9,017 Reclassification adjustment for gains on securities included in net income (603 ) 211 (392 ) (28 ) 10 (18 ) Total unrealized gains on securities 3,642 (1,275 ) 2,367 13,844 (4,845 ) 8,999 Unrealized (losses) gains on derivatives: Unrealized holding (losses) gains on derivatives arising during the period (582 ) 204 (378 ) 2,094 (733 ) 1,361 Reclassification adjustment for losses (gains) on derivatives included in net income 73 (26 ) 47 (41 ) 14 (27 ) Total unrealized (losses) gains on derivatives (509 ) 178 (331 ) 2,053 (719 ) 1,334 Total other comprehensive income $ 3,133 $ (1,097 ) $ 2,036 $ 15,897 $ (5,564 ) $ 10,333 For the Three Months Ended June 30, 2017 2016 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains on securities: Unrealized holding gains on securities arising during the period $ 1,702 $ (596 ) $ 1,106 $ 3,802 $ (1,331 ) $ 2,471 Reclassification adjustment for losses (gains) on securities included in net income 49 (17 ) 32 (28 ) 10 (18 ) Total unrealized gains on securities 1,751 (613 ) 1,138 3,774 (1,321 ) 2,453 Unrealized (losses) gains on derivatives: Unrealized holding (losses) gains on derivatives arising during the period (66 ) 23 (43 ) 359 (126 ) 233 Reclassification adjustment for gains on derivatives included in net income (5 ) 2 (3 ) (26 ) 9 (17 ) Total unrealized (losses) gains on derivatives (71 ) 25 (46 ) 333 (117 ) 216 Total other comprehensive income $ 1,680 $ (588 ) $ 1,092 $ 4,107 $ (1,438 ) $ 2,669 The following table details the change in components of OCI for the six months ended June 30 : 2017 2016 Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) (dollars in thousands) Balance at December 31 $ (7,455 ) $ 225 $ 203 $ (7,027 ) $ (2,956 ) $ 10 $ 560 $ (2,386 ) Other comprehensive income before reclassification adjustment 2,759 — (378 ) 2,381 9,017 — 1,361 10,378 Amounts reclassified from accumulated other comprehensive (loss) income (392 ) — 47 (345 ) (18 ) — (27 ) (45 ) Net other comprehensive income during the period 2,367 — (331 ) 2,036 8,999 — 1,334 10,333 Balance at June 30 $ (5,088 ) $ 225 $ (128 ) $ (4,991 ) $ 6,043 $ 10 $ 1,894 $ 7,947 |
Supplemental Cash Flow Disclosu
Supplemental Cash Flow Disclosures | 6 Months Ended |
Jun. 30, 2017 | |
Supplemental Cash Flow Information [Abstract] | |
Supplemental Cash Flow Disclosures | Supplemental Cash Flow Disclosures The following table presents information related to cash paid during the period for interest, as well as detail on non-cash investing and financing activities for the six months ended June 30 : 2017 2016 (dollars in thousands) Cash paid during the period for: Interest $ 8,917 $ 9,583 Income taxes 11,394 10,500 Non-cash investing and financing activities: Loans transferred to other real estate owned and repossessed assets 1,519 2,632 Loans transferred from held to maturity to held for sale 9,053 3,573 Gross increase in market value adjustment to securities available for sale 3,642 13,845 Gross (decrease) increase in market value adjustment to securities derivatives (508 ) 2,053 Investments committed to purchase, not settled — 1,946 Noncash treasury stock reissuance 2,258 — Net assets acquired through acquisition 37,087 — Proceeds from death benefit on bank-owned life insurance not received — 523 |
Earnings per Share
Earnings per Share | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Earnings per Share The following table summarizes the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computations: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Weighted average common shares issued 113,731,354 105,563,455 109,669,968 105,563,455 Average treasury stock shares (16,435,520 ) (16,620,341 ) (16,481,109 ) (16,621,717 ) Average unearned nonvested shares (112,235 ) (111,356 ) (109,313 ) (105,815 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 97,183,599 88,831,758 93,079,546 88,835,923 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 48,689 6,856 46,393 4,760 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 97,232,288 88,838,614 93,125,939 88,840,683 The following table shows the number of shares and the price per share related to common stock equivalents that were not included in the computation of diluted earnings per share for the six months ended June 30 because to do so would have been antidilutive. 2017 2016 Price Range Price Range Shares From To Shares From To Restricted Stock 26,022 $ 9.26 $ 13.96 81,887 $ 7.57 $ 9.84 Restricted Stock Units 24,375 $ 15.09 $ 15.09 — $ — $ — |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingent Liabilities | Commitments and Contingent Liabilities Commitments and Letters of Credit Standby letters of credit and commercial letters of credit are conditional commitments issued by First Commonwealth to guarantee the performance of a customer to a third party. The contract or notional amount of these instruments reflects the maximum amount of future payments that First Commonwealth could be required to pay under the guarantees if there were a total default by the guaranteed parties, without consideration of possible recoveries under recourse provisions or from collateral held or pledged. In addition, many of these commitments are expected to expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. The following table identifies the notional amount of those instruments at: June 30, 2017 December 31, 2016 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 1,787,811 $ 1,733,820 Financial standby letters of credit 15,540 18,108 Performance standby letters of credit 25,760 26,630 Commercial letters of credit 871 1,301 The notional amounts outstanding as of June 30, 2017 include amounts issued in 2017 of $0.4 million in financial standby letters of credit, $0.7 million in performance standby letters of credit and no commercial letters of credit. A liability of $0.2 million and $0.2 million has been recorded as of June 30, 2017 and December 31, 2016 , respectively, which represents the estimated fair value of letters of credit issued. The fair value of letters of credit is estimated based on the unrecognized portion of fees received at the time the commitment was issued. Unused commitments and letters of credit provide exposure to future credit loss in the event of nonperformance by the borrower or guaranteed parties. Management’s evaluation of the credit risk related to these commitments resulted in the recording of a liability of $4.6 million as of June 30, 2017 and $4.1 million as of December 31, 2016 . This liability is reflected in "Other liabilities" in the Condensed Consolidated Statements of Financial Condition. The credit risk evaluation incorporated probability of default, loss given default and estimated utilization for the next twelve months for each loan category and the letters of credit. Legal Proceedings First Commonwealth and its subsidiaries are subject in the normal course of business to various pending and threatened legal proceedings in which claims for monetary damages are asserted. As of June 30, 2017 , management, after consultation with legal counsel, does not anticipate that the aggregate ultimate liability arising out of litigation pending or threatened against First Commonwealth or its subsidiaries will be material to First Commonwealth’s consolidated financial position. On at least a quarterly basis, First Commonwealth assesses its liabilities and contingencies in connection with such legal proceedings. For those matters where it is probable that First Commonwealth will incur losses and the amounts of the losses can be reasonably estimated, First Commonwealth records an expense and corresponding liability in its consolidated financial statements. To the extent the pending or threatened litigation could result in exposure in excess of that liability, the amount of such excess is not currently estimable. Although not considered probable, the range of reasonably possible losses for such matters in the aggregate, beyond the existing recorded liability (if any), is between $0 and $7 million . Although First Commonwealth does not believe that the outcome of pending litigation will be material to First Commonwealth’s consolidated financial position, it cannot rule out the possibility that such outcomes will be material to the consolidated results of operations and cash flows for a particular reporting period in the future. First Commonwealth Financial Corporation and First Commonwealth Bank were named defendants in an action commenced August 27, 2015 by eight named plaintiffs that is pending in the Court of Common Pleas of Jefferson County, Pennsylvania. The plaintiffs allege that the Bank repossessed motor vehicles, sold the vehicles and sought to collect deficiency balances in a manner that did not comply with the notice requirements of the Pennsylvania Uniform Commercial Code (UCC), charged inappropriate costs and fees, including storage costs for dates that a repossessed vehicle was not in storage, and wrongly filed forms with the Department of Motor Vehicles asserting that the Bank had complied with applicable laws relating to the repossession of the vehicles. The plaintiffs seek to pursue the action as a class action on behalf of the named plaintiffs and other similarly situated plaintiffs who had their automobiles repossessed and seek to recover damages under the UCC and the Pennsylvania Fair Credit Extension Uniformity Act. First Commonwealth and the Bank contest the plaintiffs’ allegations and intend to oppose class certification. The Bank has also asserted counterclaims for breach of contract, set-off and recoupment against the plaintiffs, individually, and as representatives of the putative class. The Bank and counsel for the plaintiffs reached an agreement-in-principle to settle the litigation during the second quarter of 2016. The parties are negotiating the terms of a definitive settlement agreement which would be subject to court approval and other customary conditions. The estimated cost of the settlement to the Bank was recorded as a liability in the second quarter of 2016. As set forth in the preceding paragraph, all current litigation matters, including this action, are believed to be within the range of reasonably possible losses set forth in the preceding paragraph. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Investment Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Investment Securities Securities Available for Sale Below is an analysis of the amortized cost and estimated fair values of securities available for sale at: June 30, 2017 December 31, 2016 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 13,839 $ 1,352 $ (7 ) $ 15,184 $ 15,143 $ 1,481 $ (7 ) $ 16,617 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 694,114 4,638 (8,063 ) 690,689 683,601 4,557 (11,305 ) 676,853 Mortgage-Backed Securities – Commercial — — — — 1 — — 1 Other Government-Sponsored Enterprises 1,096 — — 1,096 16,700 — (69 ) 16,631 Obligations of States and Political Subdivisions 27,079 476 — 27,555 27,075 195 (41 ) 27,229 Corporate Securities 15,899 505 — 16,404 5,903 416 — 6,319 Pooled Trust Preferred Collateralized Debt Obligations 40,378 463 (7,193 ) 33,648 39,989 427 (7,124 ) 33,292 Total Debt Securities 792,405 7,434 (15,263 ) 784,576 788,412 7,076 (18,546 ) 776,942 Equities 1,670 — — 1,670 1,670 — — 1,670 Total Securities Available for Sale $ 794,075 $ 7,434 $ (15,263 ) $ 786,246 $ 790,082 $ 7,076 $ (18,546 ) $ 778,612 Mortgage-backed securities include mortgage-backed obligations of U.S. Government agencies and obligations of U.S. Government-sponsored enterprises. These obligations have contractual maturities ranging from less than one year to approximately 30 years with lower anticipated lives to maturity due to prepayments. All mortgage-backed securities contain a certain amount of risk related to the uncertainty of prepayments of the underlying mortgages. Interest rate changes have a direct impact upon prepayment speeds; therefore, First Commonwealth uses computer simulation models to test the average life and yield volatility of all mortgage-backed securities under various interest rate scenarios to monitor the potential impact on earnings and interest rate risk positions. Expected maturities will differ from contractual maturities because issuers may have the right to call or repay obligations with or without call or prepayment penalties. Other fixed income securities within the portfolio also contain prepayment risk. The amortized cost and estimated fair value of debt securities available for sale at June 30, 2017 , by contractual maturity, are shown below. Amortized Estimated (dollars in thousands) Due within 1 year $ 996 $ 997 Due after 1 but within 5 years 14,087 14,176 Due after 5 but within 10 years 27,079 27,555 Due after 10 years 42,290 35,975 84,452 78,703 Mortgage-Backed Securities (a) 707,953 705,873 Total Debt Securities $ 792,405 $ 784,576 (a) Mortgage-Backed Securities include an amortized cost of $13.8 million and a fair value of $15.2 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $694.1 million and a fair value of $690.7 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. Proceeds from sales, gross gains (losses) realized on sales, maturities and other-than-temporary impairment charges related to securities available for sale were as follows for the six months ended June 30 : 2017 2016 (dollars in thousands) Proceeds from sales $ 103,618 $ 55,744 Gross gains (losses) realized: Sales Transactions: Gross gains $ — $ 304 Gross losses (49 ) (276 ) (49 ) 28 Maturities and impairment Gross gains 712 — Gross losses (60 ) — 652 — Net gains and impairment $ 603 $ 28 Proceeds from sales of investments for the six months ended June 30, 2017 included the liquidation of the DCB investment portfolio in April 2017. These securities were sold because of the small positions held in the portfolio. Gross gains of $0.7 million recognized in 2017 were a result of the early redemption of one of our trust preferred securities. Securities available for sale with an estimated fair value of $517.2 million and $445.8 million were pledged as of June 30, 2017 and December 31, 2016 , respectively, to secure public deposits and for other purposes required or permitted by law. Securities Held to Maturity Below is an analysis of the amortized cost and fair values of debt securities held to maturity at: June 30, 2017 December 31, 2016 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 4,142 $ — $ (13 ) $ 4,129 $ 4,297 $ — $ (4 ) $ 4,293 Mortgage-Backed Securities- Commercial 58,780 — (727 ) 58,053 34,444 — (561 ) 33,883 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 332,768 193 (1,527 ) 331,434 280,430 5 (2,527 ) 277,908 Mortgage-Backed Securities – Commercial 14,393 22 — 14,415 14,675 — (142 ) 14,533 Obligations of States and Political Subdivisions 40,603 431 (138 ) 40,896 38,667 55 (721 ) 38,001 Debt Securities Issued by Foreign Governments 200 — — 200 — — — — Total Securities Held to Maturity $ 450,886 $ 646 $ (2,405 ) $ 449,127 $ 372,513 $ 60 $ (3,955 ) $ 368,618 The amortized cost and estimated fair value of debt securities held to maturity at June 30, 2017 , by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Amortized Estimated (dollars in thousands) Due within 1 year $ — $ — Due after 1 but within 5 years 3,118 3,142 Due after 5 but within 10 years 32,061 32,354 Due after 10 years 5,624 5,600 40,803 41,096 Mortgage-Backed Securities (a) 410,083 408,031 Total Debt Securities $ 450,886 $ 449,127 (a) Mortgage-Backed Securities include an amortized cost of $62.9 million and a fair value of $62.2 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $347.2 million and a fair value of $345.8 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. Securities held to maturity with an amortized cost of $296.3 million and $119.2 million were pledged as of June 30, 2017 and December 31, 2016 , respectively, to secure public deposits and for other purposes required or permitted by law. |
Impairment of Investment Securi
Impairment of Investment Securities | 6 Months Ended |
Jun. 30, 2017 | |
Impairment of Investment Securities Disclosure [Abstract] | |
Impairment of Investment Securities | Impairment of Investment Securities Securities Available for Sale and Held to Maturity As required by FASB ASC Topic 320, “Investments – Debt and Equity Securities,” credit-related other-than-temporary impairment on debt securities is recognized in earnings, while non-credit related other-than-temporary impairment on debt securities not expected to be sold is recognized in OCI. During the six months ended June 30, 2017 and 2016 , no other-than-temporary impairment charges were recognized. First Commonwealth utilizes the specific identification method to determine the net gain or loss on debt securities and the average cost method to determine the net gain or loss on equity securities. We review our investment portfolio on a quarterly basis for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value has been lower than the cost, the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer and whether we are more likely than not to sell, or be required to sell, the security. We evaluate whether we are more likely than not to sell debt securities based upon our investment strategy for the particular type of security, our cash flow needs, liquidity position, capital adequacy, tax position and interest rate risk position. In addition, the risk of future other-than-temporary impairment may be influenced by additional bank failures, weakness in the U.S. economy, changes in real estate values and additional interest deferrals in our pooled trust preferred collateralized debt obligations. Our pooled trust preferred collateralized debt obligations are beneficial interests in securitized financial assets within the scope of FASB ASC Topic 325, “Investments – Other,” and are therefore evaluated for other-than-temporary impairment using management’s best estimate of future cash flows. If these estimated cash flows indicate that it is probable that an adverse change in cash flows has occurred, then other-than-temporary impairment would be recognized in accordance with FASB ASC Topic 320. There is a risk that First Commonwealth will record other-than-temporary impairment charges in the future. See Note 11, “Fair Values of Assets and Liabilities,” for additional information. The following table presents the gross unrealized losses and estimated fair values at June 30, 2017 for both available for sale and held to maturity securities by investment category and time frame for which securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Estimated Gross Estimated Gross Estimated Gross (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 5,825 $ (20 ) $ — $ — $ 5,825 $ (20 ) Mortgage-Backed Securities – Commercial 58,053 (727 ) — — 58,053 (727 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 634,704 (7,786 ) 63,386 (1,804 ) 698,090 (9,590 ) Other Government-Sponsored Enterprises 100 — — — 100 — Obligations of States and Political Subdivisions 7,786 (138 ) — — 7,786 (138 ) Pooled Trust Preferred Collateralized Debt Obligations — — 29,187 (7,193 ) 29,187 (7,193 ) Total Securities $ 706,468 $ (8,671 ) $ 92,573 $ (8,997 ) $ 799,041 $ (17,668 ) At June 30, 2017 , fixed income securities issued by U.S. Government-sponsored enterprises and U.S. Government agencies comprised 54% and 4% , respectively, of total unrealized losses due to changes in market interest rates. Pooled trust preferred collateralized debt obligations accounted for 41% of the unrealized losses primarily due to the illiquid market for this investment type. At June 30, 2017 , there are 87 debt securities in an unrealized loss position. The following table presents the gross unrealized losses and estimated fair values at December 31, 2016 by investment category and time frame for which securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Estimated Gross Estimated Gross Estimated Gross (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 4,898 $ (11 ) $ — $ — $ 4,898 $ (11 ) Mortgage-Backed Securities - Commercial 33,883 (561 ) — — 33,883 (561 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 670,708 (11,630 ) 56,200 (2,202 ) 726,908 (13,832 ) Mortgage-Backed Securities – Commercial 14,534 (142 ) — — 14,534 (142 ) Other Government-Sponsored Enterprises 16,632 (69 ) — — 16,632 (69 ) Obligation of States and Political Subdivisions 33,277 (762 ) — — 33,277 (762 ) Pooled Trust Preferred Collateralized Debt Obligations — — 28,952 (7,124 ) 28,952 (7,124 ) Total Securities $ 773,932 $ (13,175 ) $ 85,152 $ (9,326 ) $ 859,084 $ (22,501 ) As of June 30, 2017 , our corporate securities had an amortized cost and an estimated fair value of $15.9 million and $16.4 million , respectively. As of December 31, 2016 , our corporate securities had an amortized cost and estimated fair value of $5.9 million and $6.3 million , respectively. Corporate securities are comprised of debt for large regional banks. There were no corporate securities in an unrealized loss position as of June 30, 2017 and December 31, 2016 . When unrealized losses exist on these investments, management reviews each of the issuer’s asset quality, earnings trends and capital position, to determine whether issues in an unrealized loss position were other-than-temporarily impaired. All interest payments on the corporate securities are being made as contractually required. As of June 30, 2017 , the book value of our pooled trust preferred collateralized debt obligations totaled $40.4 million with an estimated fair value of $33.6 million , which includes securities comprised of 256 banks and other financial institutions. All of our pooled securities are mezzanine tranches, two of which have no senior class remaining in the issue. The credit ratings on all of our issues are below investment grade. At the time of initial issue, the subordinated tranches ranged in size from approximately 7% to 35% of the total principal amount of the respective securities and no more than 5% of any pooled security consisted of a security issued by any one institution. As of June 30, 2017 , after taking into account management’s best estimates of future interest deferrals and defaults, two of our securities had no excess subordination in the tranches we own and six of our securities had excess subordination which ranged from 2% to 84% of the current performing collateral. The following table provides information related to our pooled trust preferred collateralized debt obligations as of June 30, 2017 : Deal Class Book Estimated Fair Unrealized Moody’s/ Number Deferrals Excess (dollars in thousands) Pre TSL IV Mezzanine $ 1,823 $ 1,361 $ (462 ) Ba1/BB 6 18.05 % 60.51 % Pre TSL VIII Mezzanine 1,983 2,139 156 C/C 27 40.34 0.00 Pre TSL IX Mezzanine 2,430 1,965 (465 ) B1/C 37 27.83 11.71 Pre TSL X Mezzanine 1,801 2,016 215 Caa1/C 42 30.10 1.97 Pre TSL XII Mezzanine 5,991 4,913 (1,078 ) B3/C 64 24.13 0.00 Pre TSL XIII Mezzanine 13,070 10,965 (2,105 ) Ba1/CCC 52 8.02 45.06 Pre TSL XIV Mezzanine 13,066 9,983 (3,083 ) Ba2/CCC 52 12.87 40.25 MMCap I Mezzanine 214 306 92 Ca/C 8 58.11 83.52 Total $ 40,378 $ 33,648 $ (6,730 ) Lack of liquidity in the market for trust preferred collateralized debt obligations, below investment grade credit ratings and market uncertainties related to the financial industry are factors contributing to the impairment on these securities. All of the Company's pooled trust preferred securities are included in the non-exclusive list issued by the regulatory agencies and therefore are not considered covered funds under the Volcker Rule. On a quarterly basis we evaluate our debt securities for other-than-temporary impairment. During the three and six months ended June 30, 2017 and 2016 , there were no credit-related other-than-temporary impairment charges recognized on our pooled trust preferred collateralized debt obligations. When evaluating these investments, we determine a credit-related portion and a non-credit related portion of other-than-temporary impairment. The credit-related portion is recognized in earnings and represents the difference between book value and the present value of future cash flows. The non-credit related portion is recognized in OCI and represents the difference between the fair value of the security and the amount of credit-related impairment. A discounted cash flow analysis provides the best estimate of credit-related other-than-temporary impairment for these securities. Additional information related to the discounted cash flow analysis follows: Our pooled trust preferred collateralized debt obligations are measured for other-than-temporary impairment within the scope of FASB ASC Topic 325 by determining whether it is probable that an adverse change in estimated cash flows has occurred. Determining whether there has been an adverse change in estimated cash flows from the cash flows previously projected involves comparing the present value of remaining cash flows previously projected against the present value of the cash flows estimated at June 30, 2017 . We consider the discounted cash flow analysis to be our primary evidence when determining whether credit related other-than-temporary impairment exists. Results of a discounted cash flow test are significantly affected by other variables, such as the estimate of future cash flows, credit worthiness of the underlying banks and determination of probability of default of the underlying collateral. The following provides additional information for each of these variables: • Estimate of Future Cash Flows – Cash flows are constructed in an INTEX cash flow model which includes each deal’s structural features. Projected cash flows include prepayment assumptions, which are dependent on the issuer's asset size and coupon rate. For collateral issued by financial institutions over $15 billion in asset size with a coupon over 7% , a 100% prepayment rate is assumed. Financial institutions over $15 billion with a coupon of 7% or under are assigned a prepayment rate of 40% for two years and 2% thereafter. Financial institutions with assets between $2 billion and $15 billion with coupons over 7% are assigned a 5% prepayment rate. For financial institutions below $2 billion , if the coupon is over 10% , a prepayment rate of 5% is assumed and for all other issuers, there is no prepayment assumption incorporated into the cash flows. The modeled cash flows are then used to estimate if all the scheduled principal and interest payments of our investments will be returned. • Credit Analysis – A quarterly credit evaluation is performed for each of the 256 banks comprising the collateral across the various pooled trust preferred securities. Our credit evaluation considers all evidence available to us and includes the nature of the issuer’s business, its years of operating history, corporate structure, loan composition, loan concentrations, deposit mix, asset growth rates, geographic footprint and local economic environment. Our analysis focuses on profitability, return on assets, shareholders’ equity, net interest margin, credit quality ratios, operating efficiency, capital adequacy and liquidity. • Probability of Default – A probability of default is determined for each bank and is used to calculate the expected impact of future deferrals and defaults on our expected cash flows. Each bank in the collateral pool is assigned a probability of default for each year until maturity. Currently, any bank that is in default is assigned a 100% probability of default and a 0% projected recovery rate. All other banks in the pool are assigned a probability of default based on their unique credit characteristics and market indicators with a 10% projected recovery rate. For the majority of banks currently in deferral we assume the bank continues to defer and will eventually default and, therefore, a 100% probability of default is assigned. However, for some deferring collateral there is the possibility that they will become current on interest or principal payments at some point in the future and in those cases a probability that the deferral will ultimately cure is assigned. The probability of default is updated quarterly. As of June 30, 2017 , default probabilities for performing collateral ranged from 0.33% to 75% . Our credit evaluation provides a basis for determining deferral and default probabilities for each underlying piece of collateral. Using the results of the credit evaluation, the next step of the process is to look at pricing of senior debt or credit default swaps for the issuer (or where such information is unavailable, for companies having similar credit profiles as the issuer). The pricing of these market indicators provides the information necessary to determine appropriate default probabilities for each bank. In addition to the above factors, our evaluation of impairment also includes a stress test analysis which provides an estimate of excess subordination for each tranche. We stress the cash flows of each pool by increasing current default assumptions to the level of defaults that results in an adverse change in estimated cash flows. This stressed breakpoint is then used to calculate excess subordination levels for each pooled trust preferred security. The results of the stress test allow management to identify those pools that are at a greater risk for a future break in cash flows so that we can monitor banks in those pools more closely for potential deterioration of credit quality. Our cash flow analysis as of June 30, 2017 , indicates that no credit-related other-than-temporary impairment has occurred on our pooled trust preferred securities during the six months ended June 30, 2017 . Based upon the analysis performed by management, it is probable that two of our pooled trust preferred securities will experience principal and interest shortfalls and therefore appropriate other-than-temporary charges were recorded in prior periods. These securities are identified in the previous table with 0.00% “Excess Subordination as a % of Current Performing Collateral.” For the remaining securities listed in that table, our analysis as of June 30, 2017 indicates it is probable that we will collect all contractual principal and interest payments. For five of those securities, PreTSL IX, PreTSL X, PreTSL XIII, PreTSL XIV and MMCap I, other-than-temporary impairment charges were recorded in prior periods; however, due to improvement in the expected cash flows of these securities, it is now probable that all contractual payments will be received. During 2008, 2009 and 2010, other-than-temporary impairment charges were recognized on all of our pooled trust preferred securities, except for PreTSL IV. Our cash flow analysis as of June 30, 2017 , for all of these impaired securities indicates that it is now probable we will collect principal and interest in excess of what was estimated at the time other-than-temporary impairment charges were recorded. This change can be attributed to improvement in the underlying collateral for these securities and has resulted in the present value of estimated future principal and interest payments exceeding the securities' current book value. The excess for each bond of the present value of future cash flows over our current book value ranges from 18% to 111% and will be recognized as an adjustment to yield over the remaining life of these securities. The excess subordination recognized as an adjustment to yield is reflected in the following table as increases in cash flows expected to be collected. The following table provides a cumulative roll forward of credit losses recognized in earnings for debt securities held and not intended to be sold: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 (dollars in thousands) Balance, beginning (a) $ 16,828 $ 24,590 $ 17,056 $ 24,851 Credit losses on debt securities for which other-than-temporary impairment was not previously recognized — — — — Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized — — — — Increases in cash flows expected to be collected, recognized over the remaining life of the security (b) (218 ) (280 ) (446 ) (541 ) Reduction for debt securities called during the period — — — — Balance, ending $ 16,610 $ 24,310 $ 16,610 $ 24,310 (a) The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods. (b) Represents the increase in cash flows recognized in interest income during the period. In the first six months of 2017 and 2016 , no other-than-temporary impairment charges were recorded on equity securities. On a quarterly basis, management evaluates equity securities for other-than-temporary impairment by reviewing the severity and duration of decline in estimated fair value, research reports, analysts’ recommendations, credit rating changes, news stories, annual reports, regulatory filings, impact of interest rate changes and other relevant information. As of June 30, 2017 and 2016 , there were no equity securities in an unrealized loss position. Other Investments As a member of the Federal Home Loan Bank ("FHLB"), First Commonwealth is required to purchase and hold stock in the FHLB to satisfy membership and borrowing requirements. The level of stock required to be held is dependent on the amount of First Commonwealth's mortgage-related assets and outstanding borrowings with the FHLB. This stock is restricted in that it can only be sold to the FHLB or to another member institution, and all sales of FHLB stock must be at par. As a result of these restrictions, FHLB stock is unlike other investment securities insofar as there is no trading market for FHLB stock and the transfer price is determined by FHLB membership rules and not by market participants. As of June 30, 2017 and December 31, 2016 , our FHLB stock totaled $34.3 million and $36.5 million , respectively, and is included in “Other investments” on the Condensed Consolidated Statements of Financial Condition. FHLB stock is held as a long-term investment and its value is determined based on the ultimate recoverability of the par value. First Commonwealth evaluates impairment quarterly and has concluded that the par value of its investment in FHLB stock will be recovered. Accordingly, no impairment charge was recorded on these securities during the three and six months ended June 30, 2017 . |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 6 Months Ended |
Jun. 30, 2017 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans and Allowance for Credit Losses | Loans and Allowance for Credit Losses The following table provides outstanding balances related to each of our loan types: June 30, 2017 December 31, 2016 Originated Acquired Total Originated Acquired Total (dollars in thousands) Commercial, financial, agricultural and other $ 1,157,542 $ 42,258 $ 1,199,800 $ 1,131,148 $ 8,399 $ 1,139,547 Real estate construction 237,035 12,220 249,255 217,840 1,781 219,621 Residential real estate 1,169,217 247,709 1,416,926 1,165,851 63,341 1,229,192 Commercial real estate 1,819,590 143,411 1,963,001 1,717,043 25,167 1,742,210 Loans to individuals 535,819 9,981 545,800 546,589 2,188 548,777 Total loans $ 4,919,203 $ 455,579 $ 5,374,782 $ 4,778,471 $ 100,876 $ 4,879,347 Credit Quality Information As part of the on-going monitoring of credit quality within the loan portfolio, the following credit worthiness categories are used in grading our loans: Pass Acceptable levels of risk exist in the relationship. Includes all loans not classified as OAEM, substandard or doubtful. Other Assets Especially Mentioned (OAEM) Potential weaknesses that deserve management’s close attention. The potential weaknesses may result in deterioration of the repayment prospects or weaken the Company’s credit position at some future date. The credit risk may be relatively minor, yet constitute an undesirable risk in light of the circumstances surrounding the specific credit. No loss of principal or interest is expected. Substandard Well-defined weakness or a weakness that jeopardizes the repayment of the debt. A loan may be classified as substandard as a result of deterioration of the borrower’s financial condition and repayment capacity. Loans for which repayment plans have not been met or collateral equity margins do not protect the Company may also be classified as substandard. Doubtful Loans with the characteristics of substandard loans with the added characteristic that collection or liquidation in full, on the basis of presently existing facts and conditions, is highly improbable. The use of creditworthiness categories to grade loans permits management’s use of migration analysis to estimate a portion of credit risk. The Company’s internal creditworthiness grading system provides a measurement of credit risk based primarily on an evaluation of the borrower’s cash flow and collateral. Movement between these rating categories provides a predictive measure of credit losses and therefore assists in determining the appropriate level for the loan loss reserves. Category ratings are reviewed each quarter, at which time management analyzes the results, as well as other external statistics and factors related to loan performance. Loans that migrate towards higher risk rating levels generally have an increased risk of default, whereas loans that migrate toward lower risk ratings generally will result in a lower risk factor being applied to those related loan balances. The following tables represent our credit risk profile by creditworthiness: June 30, 2017 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,076,627 $ 237,035 $ 1,155,603 $ 1,767,348 $ 535,611 $ 4,772,224 Non-Pass OAEM 47,113 — 3,076 34,630 — 84,819 Substandard 28,828 — 10,538 17,612 208 57,186 Doubtful 4,974 — — — — 4,974 Total Non-Pass 80,915 — 13,614 52,242 208 146,979 Total $ 1,157,542 $ 237,035 $ 1,169,217 $ 1,819,590 $ 535,819 $ 4,919,203 Acquired loans Pass $ 40,132 $ 12,220 $ 245,180 $ 134,825 $ 9,981 $ 442,338 Non-Pass OAEM 1,193 — 942 3,518 — 5,653 Substandard 933 — 1,587 5,068 — 7,588 Doubtful — — — — — — Total Non-Pass 2,126 — 2,529 8,586 — 13,241 Total $ 42,258 $ 12,220 $ 247,709 $ 143,411 $ 9,981 $ 455,579 December 31, 2016 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,038,844 $ 217,565 $ 1,152,511 $ 1,691,220 $ 546,316 $ 4,646,456 Non-Pass OAEM 27,387 275 5,923 7,596 — 41,181 Substandard 64,917 — 7,417 18,227 273 90,834 Doubtful — — — — — — Total Non-Pass 92,304 275 13,340 25,823 273 132,015 Total $ 1,131,148 $ 217,840 $ 1,165,851 $ 1,717,043 $ 546,589 $ 4,778,471 Acquired loans Pass $ 7,591 $ 1,781 $ 62,919 $ 24,043 $ 2,185 $ 98,519 Non-Pass OAEM 486 — — — — 486 Substandard 322 — 422 1,124 3 1,871 Doubtful — — — — — — Total Non-Pass 808 — 422 1,124 3 2,357 Total $ 8,399 $ 1,781 $ 63,341 $ 25,167 $ 2,188 $ 100,876 Portfolio Risks The credit quality of our loan portfolio can potentially represent significant risk to our earnings, capital and liquidity. First Commonwealth devotes substantial resources to managing this risk primarily through our credit administration department that develops and administers policies and procedures for underwriting, maintaining, monitoring and collecting loans. Credit administration is independent of our lending departments and oversight is provided by the credit committee of the First Commonwealth Board of Directors. Criticized loans have been evaluated when determining the appropriateness of the allowance for credit losses, which we believe is adequate to absorb losses inherent to the portfolio as of June 30, 2017 . However, changes in economic conditions, interest rates, borrower financial condition, delinquency trends or previously established fair values of collateral factors could significantly change those judgmental estimates. Age Analysis of Past Due Loans by Segment The following tables delineate the aging analysis of the recorded investments in past due loans as of June 30, 2017 and December 31, 2016 . Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection. June 30, 2017 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 1,864 $ 88 $ 48 $ 12,561 $ 14,561 $ 1,142,981 $ 1,157,542 Real estate construction — — — — — 237,035 237,035 Residential real estate 3,325 1,189 1,015 6,363 11,892 1,157,325 1,169,217 Commercial real estate 863 166 5 3,802 4,836 1,814,754 1,819,590 Loans to individuals 1,487 615 712 208 3,022 532,797 535,819 Total $ 7,539 $ 2,058 $ 1,780 $ 22,934 $ 34,311 $ 4,884,892 $ 4,919,203 Acquired loans Commercial, financial, agricultural and other $ — $ — $ — $ 563 $ 563 $ 41,695 $ 42,258 Real estate construction — — — — — 12,220 12,220 Residential real estate 68 133 106 626 933 246,776 247,709 Commercial real estate — — — 3,298 3,298 140,113 143,411 Loans to individuals 65 27 12 — 104 9,877 9,981 Total $ 133 $ 160 $ 118 $ 4,487 $ 4,898 $ 450,681 $ 455,579 December 31, 2016 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 2,380 $ 171 $ 75 $ 17,928 $ 20,554 $ 1,110,594 $ 1,131,148 Real estate construction 183 — — — 183 217,657 217,840 Residential real estate 4,133 1,089 995 5,792 12,009 1,153,842 1,165,851 Commercial real estate 265 327 57 3,443 4,092 1,712,951 1,717,043 Loans to individuals 1,640 776 970 273 3,659 542,930 546,589 Total $ 8,601 $ 2,363 $ 2,097 $ 27,436 $ 40,497 $ 4,737,974 $ 4,778,471 Acquired loans Commercial, financial, agricultural and other $ 486 $ — $ — $ — $ 486 $ 7,913 $ 8,399 Real estate construction — — — — — 1,781 1,781 Residential real estate 148 39 34 422 643 62,698 63,341 Commercial real estate — — — 162 162 25,005 25,167 Loans to individuals 1 7 — 3 11 2,177 2,188 Total $ 635 $ 46 $ 34 $ 587 $ 1,302 $ 99,574 $ 100,876 Nonaccrual Loans The previous tables summarize nonaccrual loans by loan segment. The Company generally places loans on nonaccrual status when the full and timely collection of interest or principal becomes uncertain, when part of the principal balance has been charged off and no restructuring has occurred, or the loans reach a certain number of days past due. Generally, loans 90 days or more past due are placed on nonaccrual status, except for consumer loans, which are placed on nonaccrual status at 150 days past due. When a loan is placed on nonaccrual, the accrued unpaid interest receivable is reversed against interest income and all future payments received are applied as a reduction to the loan principal. Generally, the loan is returned to accrual status when (a) all delinquent interest and principal becomes current under the terms of the loan agreement or (b) the loan is both well-secured and in the process of collection and collectability is no longer in doubt. Impaired Loans Management considers loans to be impaired when, based on current information and events, it is determined that the Company will not be able to collect all amounts due according to the loan contract, including scheduled interest payments. Determination of impairment is treated the same across all loan categories. When management identifies a loan as impaired, the impairment is measured based on the present value of expected future cash flows, discounted at the loan’s effective interest rate, except when the sole source for repayment of the loan is the operation or liquidation of collateral. When the loan is collateral dependent, the appraised value less estimated cost to sell is utilized. If management determines the value of the impaired loan is less than the recorded investment in the loan, impairment is recognized through an allowance estimate or a charge-off to the allowance. Troubled debt restructured loans on accrual status are also considered to be impaired loans. When the ultimate collectability of the total principal of an impaired loan is in doubt and the loan is on nonaccrual status, all payments are applied to principal under the cost recovery method. When the ultimate collectability of the total principal of an impaired loan is not in doubt and the loan is on nonaccrual status, contractual interest is credited to interest income when received under the cash basis method. At June 30, 2017 and December 31, 2016 , there were no nonaccrual loans held for sale. In addition, $21 thousand in gains were recognized in income during the second quarter of 2017 as the result of the sale of a nonaccrual loan held for sale at March 31, 2017. There were no gains or losses recognized in income for the six months ended June 30, 2016 . Significant nonaccrual loans as of June 30, 2017 , include the following: • A $5.0 million relationship of commercial industrial loans to a steel and aluminum servicing company. These loans were originated in 2011 and were placed in nonaccrual status during the first quarter of 2016. During the second quarter of 2017, a restructuring agreement resulted in payments of $2.4 million on these loans. A collateral valuation was completed in the second quarter of 2017. • A $2.8 million relationship of commercial industrial loans to a local energy company involved in the drilling and production of natural gas wells. These loans were originated from 2008 to 2011 and were placed in nonaccrual status during the third quarter of 2013. Two of these loans were modified resulting in TDR classification: one loan totaling $0.6 million was modified in 2012, and the other loan totaling $2.2 million was modified in 2014. Charge-offs totaling $0.4 million were recognized in the first six months of 2017 . A valuation of the collateral was updated during the first quarter of 2017. • A $2.1 million commercial real estate loan to a property manager. This loan was acquired as part of the DCB acquisition. A valuation of the collateral was completed during the second quarter of 2017. The following tables include the recorded investment and unpaid principal balance for impaired loans with the associated allowance amount, if applicable, as of June 30, 2017 and December 31, 2016 . Also presented are the average recorded investment in impaired loans and the related amount of interest recognized while the loan was considered impaired. Average balances are calculated using month-end balances of the loans for the period reported and are included in the table below based on their period-end allowance position. June 30, 2017 December 31, 2016 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Originated loans: With no related allowance recorded: Commercial, financial, agricultural and other $ 8,290 $ 14,697 $ 9,549 $ 15,369 Real estate construction — — — — Residential real estate 11,128 12,975 10,873 13,004 Commercial real estate 6,524 7,498 5,765 6,905 Loans to individuals 341 391 382 507 Subtotal 26,283 35,561 26,569 35,785 With an allowance recorded: Commercial, financial, agricultural and other 8,634 12,699 $ 1,681 13,423 19,226 $ 2,530 Real estate construction — — — — — — Residential real estate 342 459 31 424 475 164 Commercial real estate 428 427 259 810 810 434 Loans to individuals — — — — — — Subtotal 9,404 13,585 1,971 14,657 20,511 3,128 Total $ 35,687 $ 49,146 $ 1,971 $ 41,226 $ 56,296 $ 3,128 June 30, 2017 December 31, 2016 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Acquired loans With no related allowance recorded: Commercial, financial, agricultural and other $ 72 $ 72 $ — $ — Real estate construction — — — — Residential real estate 624 943 406 480 Commercial real estate 3,140 4,012 162 162 Loans to individuals — — 3 3 Subtotal 3,836 5,027 571 645 With an allowance recorded: Commercial, financial, agricultural and other 490 490 $ 110 — — $ — Real estate construction — — — — — — Residential real estate 14 28 4 16 16 16 Commercial real estate 158 162 50 — — — Loans to individuals — — — — — — Subtotal 662 680 164 16 16 16 Total $ 4,498 $ 5,707 $ 164 $ 587 $ 661 $ 16 For the Six Months Ended June 30, 2017 2016 Originated Loans Acquired Loans Originated Loans Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 13,888 $ 289 $ 36 $ — $ 20,116 $ 249 Real estate construction — — 50 — 9 44 Residential real estate 11,434 185 465 7 11,232 137 Commercial real estate 6,586 88 1,575 — 7,136 67 Loans to individuals 341 11 — — 442 3 Subtotal 32,249 573 2,126 7 38,935 500 With an allowance recorded: Commercial, financial, agricultural and other 9,220 46 82 — 17,939 91 Real estate construction — — — — — — Residential real estate 279 — 7 — 347 — Commercial real estate 484 13 161 — 861 11 Loans to individuals — — — — — — Subtotal 9,983 59 250 — 19,147 102 Total $ 42,232 $ 632 $ 2,376 $ 7 $ 58,082 $ 602 For the Three Months Ended June 30, 2017 2016 Originated Loans Acquired Loans Originated Loans Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 12,583 $ 251 $ 72 $ — $ 18,995 $ 95 Real estate construction — — 100 — — — Residential real estate 11,339 110 623 7 11,462 90 Commercial real estate 6,596 34 3,151 — 6,887 29 Loans to individuals 344 9 — — 405 2 Subtotal 30,862 404 3,946 7 37,749 216 With an allowance recorded: Commercial, financial, agricultural and other 8,813 20 164 — 22,788 65 Real estate construction — — — — — — Residential real estate 332 — 14 — 476 — Commercial real estate 481 6 160 — 921 6 Loans to individuals — — — — — — Subtotal 9,626 26 338 — 24,185 71 Total $ 40,488 $ 430 $ 4,284 $ 7 $ 61,934 $ 287 Unfunded commitments related to nonperforming loans were $1.5 million at June 30, 2017 and $1.8 million at December 31, 2016 . After consideration of the requirements to draw and available collateral related to these commitments, a reserve of $0.1 million and $12 thousand was established for these off balance sheet exposures at June 30, 2017 and December 31, 2016 , respectively. Troubled debt restructured loans are those loans whose terms have been renegotiated to provide a reduction or deferral of principal or interest as a result of the financial difficulties experienced by the borrower, who could not obtain comparable terms from alternate financing sources. The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans: June 30, 2017 December 31, 2016 (dollars in thousands) Troubled debt restructured loans Accrual status $ 12,764 $ 13,790 Nonaccrual status 11,868 11,569 Total $ 24,632 $ 25,359 Commitments Letters of credit $ 60 $ — Unused lines of credit 87 358 Total $ 147 $ 358 The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings: For the Six Months Ended June 30, 2017 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 4 $ 6,768 $ 1,786 $ — $ 8,554 $ 6,422 $ 960 Residential real estate 12 129 187 413 729 683 4 Commercial real estate 3 179 — 84 263 258 — Loans to individuals 7 — 17 48 65 56 — Total 26 $ 7,076 $ 1,990 $ 545 $ 9,611 $ 7,419 $ 964 For the Six Months Ended June 30, 2016 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 5 $ 92 $ 4,009 $ — $ 4,101 $ 3,708 $ 40 Residential real estate 26 — 114 2,416 2,530 2,440 — Commercial real estate 6 1,264 — 25 1,289 1,227 74 Loans to individuals 5 — 29 11 40 30 — Total 42 $ 1,356 $ 4,152 $ 2,452 $ 7,960 $ 7,405 $ 114 The troubled debt restructurings included in the above tables are also included in the impaired loan tables provided earlier in this note. Loans defined as modified due to a change in rate may include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For the six months ended June 30, 2017 and 2016 , $0.2 million and $4.2 million , respectively, of total rate modifications represent loans with modifications to the rate as well as payment as a result of re-amortization. For both 2017 and 2016 the changes in loan balances between the pre-modification balance and the post-modification balance are due to customer payments. For the Three Months Ended June 30, 2017 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 3 $ 6,768 $ 1,745 $ — $ 8,513 $ 6,385 $ 960 Residential real estate 5 — 85 108 193 189 4 Commercial real estate 1 — — 68 68 68 — Loans to individuals 4 — 3 17 20 17 — Total 13 $ 6,768 $ 1,833 $ 193 $ 8,794 $ 6,659 $ 964 For the Three Months Ended, June 30, 2016 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 4 $ 92 $ 240 $ — $ 332 $ 217 $ 40 Residential real estate 17 — — 1,435 1,435 1,428 — Commercial real estate 4 1,198 — — 1,198 1,173 74 Loans to individuals 2 — 11 6 17 15 — Total 27 $ 1,290 $ 251 $ 1,441 $ 2,982 $ 2,833 $ 114 The troubled debt restructurings included in the above tables are also included in the impaired loan tables provided earlier in this note. Loans defined as modified due to a change in rate may include loans that were modified for a change in rate as well as a re-amortization of the principal and an extension of the maturity. For the three months ended June 30, 2017 and 2016 , $0.1 million and $0.3 million , respectively, of total rate modifications represent loans with modifications to the rate as well as payment as a result of re-amortization. For both 2017 and 2016 the changes in loan balances between the pre-modification balance and the post-modification balance are due to customer payments. A troubled debt restructuring is considered to be in default when a restructured loan is 90 days or more past due. The following table provides information related to restructured loans that were considered to be in default during the six months ended June 30 : 2017 2016 Number of Recorded Number of Recorded (dollars in thousands) Residential real estate 4 $ 103 — $ — Total 4 $ 103 — $ — The following table provides information related to restructured loans that were considered to be in default during the three months ended June 30 : 2017 2016 Number of Recorded Number of Recorded (dollars in thousands) Residential real estate 4 $ 103 — $ — Total 4 $ 103 — $ — The following tables provide detail related to the allowance for credit losses: For the Six Months Ended June 30, 2017 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 35,974 $ 577 $ 2,492 $ 6,619 $ 4,504 $ 50,166 Charge-offs (5,277 ) — (610 ) (60 ) (2,170 ) (8,117 ) Recoveries 3,636 96 192 146 248 4,318 Provision (credit) (961 ) 95 42 602 1,750 1,528 Ending balance 33,372 768 2,116 7,307 4,332 47,895 Acquired loans: Beginning balance — — 19 — — 19 Charge-offs — — (9 ) — (8 ) (17 ) Recoveries — — 1 27 4 46 78 Provision (credit) 118 (1 ) (33 ) 46 (38 ) 92 Ending balance 118 — 4 50 — 172 Total ending balance $ 33,490 $ 768 $ 2,120 $ 7,357 $ 4,332 $ 48,067 Ending balance: individually evaluated for impairment $ 1,791 $ — $ 35 $ 309 $ — $ 2,135 Ending balance: collectively evaluated for impairment 31,699 768 2,085 7,048 4,332 45,932 Loans: Ending balance 1,199,800 249,255 1,416,926 1,963,001 545,800 5,374,782 Ending balance: individually evaluated for impairment 16,917 — 6,978 8,697 — 32,592 Ending balance: collectively evaluated for impairment 1,182,883 249,255 1,409,948 1,954,304 545,800 5,342,190 For the Six Months Ended June 30, 2016 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Beginning balance $ 31,035 $ 887 $ 2,606 $ 11,924 $ 4,360 $ 50,812 Charge-offs (6,145 ) — (602 ) (408 ) (2,491 ) (9,646 ) Recoveries 198 227 260 783 289 1,757 Provision (credit) 21,269 (634 ) 341 (6,437 ) 2,359 16,898 Ending balance $ 46,357 $ 480 $ 2,605 $ 5,862 $ 4,517 $ 59,821 Ending balance: individually evaluated for impairment $ 15,018 $ — $ 48 $ 464 $ — $ 15,530 Ending balance: collectively evaluated for impairment 31,339 480 2,557 5,398 4,517 44,291 Loans: Ending balance 1,185,062 242,132 1,199,005 1,648,222 569,355 4,843,776 Ending balance: individually evaluated for impairment 43,817 — 5,966 6,017 — 55,800 Ending balance: collectively evaluated for impairment 1,141,245 242,132 1,193,039 1,642,205 569,355 4,787,976 For the Three Months Ended June 30, 2017 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 34,701 $ 614 $ 2,414 $ 6,582 $ 4,334 $ 48,645 Charge-offs (1,452 ) — (145 ) (29 ) (972 ) (2,598 ) Recoveries 3,268 42 70 29 120 3,529 Provision (credit) (3,145 ) 112 (223 ) 725 850 (1,681 ) Ending balance 33,372 768 2,116 7,307 4,332 47,895 Acquired loans: Beginning balance — — 31 — — 31 Charge-offs — — (1 ) — (1 ) (2 ) Recoveries — 1 21 4 45 71 Provision (credit) 118 (1 ) (47 ) 46 (44 ) 72 Ending balance 118 — 4 50 — 172 Total ending balance $ 33,490 $ 768 $ 2,120 $ 7,357 $ 4,332 $ 48,067 For the Three Months Ended, June 30, 2016 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Beginning balance $ 41,721 $ 901 $ 2,628 $ 5,483 $ 4,489 $ 55,222 Charge-offs (4,753 ) — (220 ) (143 ) (1,022 ) (6,138 ) Recoveries 64 4 142 27 128 365 Provision (credit) 9,325 (425 ) 55 495 922 10,372 Ending balance $ 46,357 $ 480 $ 2,605 $ 5,862 $ 4,517 $ 59,821 |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes At June 30, 2017 and December 31, 2016 , First Commonwealth had no material unrecognized tax benefits or accrued interest and penalties. If applicable, First Commonwealth will record interest and penalties as a component of noninterest expense. Federal and state returns for tax years 2013 and forward remain open for examination as of June 30, 2017 . During the first quarter of 2017, First Commonwealth adopted ASU No. 2016-09, "Compensation-Stock Compensation (Topic 718)." Adoption of this ASU resulted in a $0.1 million tax benefit. |
Fair Values of Assets and Liabi
Fair Values of Assets and Liabilities | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Values of Assets and Liabilities | Fair Values of Assets and Liabilities FASB ASC Topic 820, “Fair Value Measurements and Disclosures,” requires disclosures for non-financial assets and non-financial liabilities, except for items that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). All non-financial assets are included either as a separate line item on the Condensed Consolidated Statements of Financial Condition or in the “Other assets” category of the Condensed Consolidated Statements of Financial Condition. Currently, First Commonwealth does not have any non-financial liabilities to disclose. FASB ASC Topic 825, “Financial Instruments”, permits entities to irrevocably elect to measure select financial instruments and certain other items at fair value. The unrealized gains and losses are required to be included in earnings each reporting period for the items that fair value measurement is elected. First Commonwealth has elected not to measure any existing financial instruments at fair value under FASB ASC Topic 825; however, in the future we may elect to adopt this guidance for select financial instruments. In accordance with FASB ASC Topic 820, First Commonwealth groups financial assets and financial liabilities measured at fair value in three levels based on the principal markets in which the assets and liabilities are transacted and the observability of the data points used to determine fair value. These levels are: • Level 1 – Valuations for assets and liabilities traded in active exchange markets, such as the New York Stock Exchange (“NYSE”). Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities. • Level 2 – Valuations for assets and liabilities traded in less active dealer or broker markets. Valuations are obtained for identical or comparable assets or liabilities from alternative pricing sources with reasonable levels of price transparency. Level 2 includes Obligations of U.S. Government securities issued by Agencies and Sponsored Enterprises, Obligations of States and Political Subdivisions, corporate securities, FHLB stock, loans held for sale, interest rate derivatives (including interest rate caps, interest rate swaps and risk participation agreements), certain other real estate owned and certain impaired loans. Level 2 investment securities are valued by a recognized third party pricing service using observable inputs. The model used by the pricing service varies by asset class and incorporates available market, trade and bid information as well as cash flow information when applicable. Because many fixed-income investment securities do not trade on a daily basis, the model uses available information such as benchmark yield curves, benchmarking of like investment securities, sector groupings and matrix pricing. The model will also use processes such as an option adjusted spread to assess the impact of interest rates and to develop prepayment estimates. Market inputs normally used in the pricing model include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. Management validates the market values provided by the third party service by having another recognized pricing service price 100% of the securities on an annual basis and a random sample of securities each quarter, monthly monitoring of variances from prior period pricing and, on a monthly basis, evaluating pricing changes compared to expectations based on changes in the financial markets. Other investments recorded in the Condensed Consolidated Statements of Financial Condition are comprised of FHLB stock whose estimated fair value is based on its par value. Additional information on FHLB stock is provided in Note 8, “Impairment of Investment Securities.” Loans held for sale include residential mortgage loans originated for sale in the secondary mortgage market. The estimated fair value for these loans was determined on the basis of rates obtained in the respective secondary market. Interest rate derivatives are reported at an estimated fair value utilizing Level 2 inputs and are included in other assets and other liabilities, and consist of interest rate swaps where there is no significant deterioration in the counterparties' (loan customers') credit risk since origination of the interest rate swap as well as interest rate caps and risk participation agreements. First Commonwealth values its interest rate swap and cap positions using a yield curve by taking market prices/rates for an appropriate set of instruments. The set of instruments currently used to determine the U.S. Dollar yield curve includes cash LIBOR rates from overnight to one year, Eurodollar futures contracts and swap rates from one year to thirty years. These yield curves determine the valuations of interest rate swaps. Interest rate derivatives are further described in Note 12, “Derivatives.” For purposes of potential valuation adjustments to our derivative positions, First Commonwealth evaluates the credit risk of its counterparties as well as our own credit risk. Accordingly, we have considered factors such as the likelihood of default, expected loss given default, net exposures and remaining contractual life, among other things, in determining if any fair value adjustments related to credit risk are required. We review our counterparty exposure quarterly, and when necessary, appropriate adjustments are made to reflect the exposure. We also utilize this approach to estimate our own credit risk on derivative liability positions. In 2017 , we have not realized any losses due to a counterparty's inability to pay any uncollateralized positions. Interest rate derivatives also include interest rate forwards entered into to hedge residential mortgage loans held for sale and the related interest-rate lock commitments. This includes forward commitments to sell mortgage loans. The fair value of these derivative financial instruments are based on derivative market data inputs as of the valuation date and the underlying value of mortgage loans for rate lock commitments. In addition, the Company hedges foreign currency risk through the use of foreign exchange forward contracts. The fair value of foreign exchange forward contracts is based on the differential between the contract price and the market-based forward rate. The estimated fair value for other real estate owned included in Level 2 is determined by either an independent market-based appraisal less estimated costs to sell or an executed sales agreement. • Level 3 – Valuations for assets and liabilities that are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker traded transactions. If the inputs used to provide the valuation are unobservable and/or there is very little, if any, market activity for the security or similar securities, the securities would be considered Level 3 securities. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets or liabilities. The assets included in Level 3 are pooled trust preferred collateralized debt obligations, non-marketable equity investments, certain interest rate derivatives, certain other real estate owned and certain impaired loans. Our pooled trust preferred collateralized debt obligations are collateralized by the trust preferred securities of individual banks, thrifts and bank holding companies in the United States. There has been little or no active trading in these securities since 2009; therefore, it is more appropriate to determine estimated fair value using a discounted cash flow analysis. Detail on our process for determining the appropriate cash flows for this analysis is provided in Note 7, “Impairment of Investment Securities.” The discount rate applied to the cash flows is determined by evaluating the current market yields for comparable corporate and structured credit products along with an evaluation of the risks associated with the cash flows of the comparable security. Due to the fact that there is no active market for the pooled trust preferred collateralized debt obligations, one key reference point is the market yield for the single issue trust preferred securities issued by banks and thrifts for which there is more activity than for the pooled securities. Adjustments are then made to reflect the credit and structural differences between these two security types. Management validates the fair value of the pooled trust preferred collateralized debt obligations by monitoring the performance of the underlying collateral, discussing the discount rate, cash flow assumptions and general market trends with a specialized third party and confirming changes in the underlying collateral to the trustee reports. Management’s monitoring of the underlying collateral includes deferrals of interest payments, payment defaults, cures of previously deferred interest payments, any regulatory filings or actions and general news related to the underlying collateral. Management also evaluates fair value changes compared to expectations based on changes in the interest rates used in determining the discount rate and general financial markets. The estimated fair value of the non-marketable equity investments included in Level 3 is based on par value. The estimated fair value of limited partnership investments included in Level 3 is based on par value. For interest rate derivatives included in Level 3, the fair value incorporates credit risk by considering such factors as likelihood of default and expected loss given default based on the credit quality of the underlying counterparties (loan customers). In accordance with ASU 2011 -4 , the following table provides information related to quantitative inputs and assumptions used in Level 3 fair value measurements. Fair Value (dollars Valuation Unobservable Inputs Range / Pooled Trust Preferred Securities $ 33,648 Discounted Cash Flow Probability of default 0% - 100% (9.56%) Prepayment rates 0% - 72.4% (4.15%) Discount rates 5.25% - 12.00% (a) Equities 1,670 Par Value N/A N/A Impaired Loans 2,190 (b) Reserve study Discount rate 10.00% Gas per MMBTU $2.87 - $3.61 (c) Oil per BBL/d $56.05 - $57.65 (c) 7,038 (b) Discounted Cash Flow Discount Rate 1.90% - 4.68% Limited Partnership Investments 1,477 Par Value N/A N/A (a) Incorporates spread over risk free rate related primarily to credit quality and illiquidity of securities. (b) The remainder of impaired loans valued using Level 3 inputs are not included in this disclosure as the values of those loans are based on bankruptcy agreement documentation. (c) Unobservable inputs are defined as follows: MMBTU - million British thermal units; BBL/d - barrels per day. The significant unobservable inputs used in the fair value measurement of pooled trust preferred securities are the probability of default, discount rates and prepayment rates. Significant increases in the probability of default or discount rate used would result in a decrease in the estimated fair value of these securities, while decreases in these variables would result in higher fair value measurements. In general, a change in the assumption of probability of default is accompanied by a directionally similar change in the discount rate. In most cases, increases in the prepayment rate assumptions would result in a higher estimated fair value for these securities while decreases would provide for a lower value. The direction of this change is somewhat dependent on the structure of the investment and the amount of the investment tranches senior to our position. The discount rate is the significant unobservable input used in the fair value measurement of impaired loans. Significant increases in this rate would result in a decrease in the estimated fair value of the loans, while a decrease in this rate would result in a higher fair value measurement. Other unobservable inputs in the fair value measurement of impaired loans relate to gas, oil and natural gas prices. Increases in these prices would result in an increase in the estimated fair value of the loans, while a decrease in these prices would result in a lower fair value measurement. The tables below present the balances of assets and liabilities measured at fair value on a recurring basis: June 30, 2017 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 15,184 $ — $ 15,184 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 690,689 — 690,689 Mortgage-Backed Securities - Commercial — — — — Other Government-Sponsored Enterprises — 1,096 — 1,096 Obligations of States and Political Subdivisions — 27,555 — 27,555 Corporate Securities — 16,404 — 16,404 Pooled Trust Preferred Collateralized Debt Obligations — — 33,648 33,648 Total Debt Securities — 750,928 33,648 784,576 Equities — — 1,670 1,670 Total Securities Available for Sale — 750,928 35,318 786,246 Other Investments — 34,340 — 34,340 Loans Held for Sale — 9,785 — 9,785 Other Assets(a) — 4,396 1,477 5,873 Total Assets $ — $ 799,449 $ 36,795 $ 836,244 Other Liabilities(a) $ — $ 5,147 $ — $ 5,147 Total Liabilities $ — $ 5,147 $ — $ 5,147 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments December 31, 2016 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 16,617 $ — $ 16,617 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 676,853 — 676,853 Mortgage-Backed Securities - Commercial — 1 — 1 Other Government-Sponsored Enterprises — 16,631 — 16,631 Obligations of States and Political Subdivisions — 27,229 — 27,229 Corporate Securities — 6,319 — 6,319 Pooled Trust Preferred Collateralized Debt Obligations — — 33,292 33,292 Total Debt Securities — 743,650 33,292 776,942 Equities — — 1,670 1,670 Total Securities Available for Sale — 743,650 34,962 778,612 Other Investments — 36,498 — 36,498 Loans Held for Sale — 7,052 — 7,052 Other Assets(a) — 6,089 930 7,019 Total Assets $ — $ 793,289 $ 35,892 $ 829,181 Other Liabilities(a) $ — $ 5,972 $ — $ 5,972 Total Liabilities $ — $ 5,972 $ — $ 5,972 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments For the six months ended June 30 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2017 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 33,292 $ 1,670 $ 930 $ 35,892 Total gains or losses Included in earnings — — — — Included in other comprehensive income 410 — — 410 Purchases, issuances, sales and settlements Purchases — — 547 547 Issuances — — — — Sales — — — — Settlements (54 ) — — (54 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance, end of period $ 33,648 $ 1,670 $ 1,477 $ 36,795 2016 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 35,658 $ 2,170 $ — $ 37,828 Total gains or losses Included in earnings — — — — Included in other comprehensive income (1,905 ) — — (1,905 ) Purchases, issuances, sales and settlements Purchases — 36 168 204 Issuances — — — — Sales — — — — Settlements (30 ) — — (30 ) Transfers from Level 3 — (536 ) (536 ) Transfers into Level 3 — — 536 536 Balance, end of period $ 33,723 $ 1,670 $ 704 $ 36,097 During the six months ended June 30, 2017 , there were no transfers between fair value Levels 1 , 2 or 3. During the six months ended June 30, 2016 , $0.5 million in investments in limited partnerships were moved from other equity securities to other assets constituting the transfers into and out of Level 3. There were no gains or losses included in earnings for the periods presented that are attributable to the change in realized gains (losses) relating to assets held at June 30, 2017 and 2016 . For the three months ended June 30 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2017 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 33,741 $ 1,670 $ 1,340 $ 36,751 Total gains or losses Included in earnings — — — — Included in other comprehensive income (87 ) — — (87 ) Purchases, issuances, sales and settlements Purchases — — 137 137 Issuances — — — — Sales — — — — Settlements (6 ) — — (6 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance, end of period $ 33,648 $ 1,670 $ 1,477 $ 36,795 2016 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 33,273 $ 2,206 $ — 35,479 Total gains or losses Included in earnings — — — — Included in other comprehensive income 480 — — 480 Purchases, issuances, sales and settlements Purchases — — 168 168 Issuances — — — — Sales — — — — Settlements (30 ) — — (30 ) Transfers from Level 3 — (536 ) — (536 ) Transfers into Level 3 — — 536 536 Balance, end of period $ 33,723 $ 1,670 $ 704 $ 36,097 During the three months ended June 30, 2017 , there were no transfers between fair value Levels 1 , 2 or 3. During the three months ended June 30, 2016 , $0.5 million in investments in limited partnerships were moved from other equity securities to other assets constituting the transfers into and out of Level 3. There were no gains or losses included in earnings for the periods presented that are attributable to the change in realized gains (losses) relating to assets held at June 30, 2017 and 2016 . The tables below present the balances of assets measured at fair value on a nonrecurring basis at: June 30, 2017 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 21,089 $ 16,961 $ 38,050 Other real estate owned — 6,281 — 6,281 Total Assets $ — $ 27,370 $ 16,961 $ 44,331 December 31, 2016 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 18,679 $ 19,990 $ 38,669 Other real estate owned — 7,566 — 7,566 Total Assets $ — $ 26,245 $ 19,990 $ 46,235 The following gain (losses) were realized on the assets measured on a nonrecurring basis: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 (dollars in thousands) Impaired loans $ (238 ) $ (6,991 ) $ (1,278 ) $ (14,576 ) Other real estate owned (1,094 ) (245 ) (1,125 ) (258 ) Total losses $ (1,332 ) $ (7,236 ) $ (2,403 ) $ (14,834 ) Impaired loans over $100 thousand are individually reviewed to determine the amount of each loan considered to be at risk of non-collection. The fair value for impaired loans that are collateral based is determined by reviewing real property appraisals, equipment valuations, accounts receivable listings and other financial information. A discounted cash flow analysis is performed to determine fair value for impaired loans when an observable market price or a current appraisal is not available. For real estate secured loans, First Commonwealth’s loan policy requires updated appraisals be obtained at least every twelve months on all impaired loans with balances of $250 thousand and over. For real estate secured loans with balances under $250 thousand , we rely on broker price opinions. For non-real estate secured assets, the Company normally relies on third party valuations specific to the collateral type. The fair value for other real estate owned, determined by either an independent market-based appraisal less estimated costs to sell or an executed sales agreement, is classified as Level 2. The fair value for other real estate owned determined using an internal valuation is classified as Level 3. Other real estate owned has a current carrying value of $6.0 million as of June 30, 2017 and consists primarily of commercial real estate properties in Pennsylvania. We review whether events and circumstances subsequent to a transfer to other real estate owned have occurred that indicate the balance of those assets may not be recoverable. If events and circumstances indicate further impairment we will record a charge to the extent that the carrying value of the assets exceed their fair values, less estimated cost to sell, as determined by valuation techniques appropriate in the circumstances. Certain other assets and liabilities, including goodwill and core deposit intangibles, are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances. Additional information related to goodwill is provided in Note 13, “Goodwill.” There were no other assets or liabilities measured at fair value on a nonrecurring basis during the six months ended June 30, 2017 . FASB ASC 825-10, “Transition Related to FSP FAS 107 -1 ” and APB 28 -1 , “Interim Disclosures about Fair Value of Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or nonrecurring basis are as discussed above. The methodologies for other financial assets and financial liabilities are discussed below. Cash and due from banks and interest-bearing bank deposits : The carrying amounts for cash and due from banks and interest-bearing bank deposits approximate the estimated fair values of such assets. Securities : Fair values for securities available for sale and held to maturity are based on quoted market prices, if available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. Pooled trust preferred collateralized debt obligations values are derived from other valuation methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer or broker traded transactions. These valuations incorporate certain assumptions and projections in determining the fair value assigned to each instrument. The carrying value of other investments, which includes FHLB stock, is considered a reasonable estimate of fair value. Loans : The fair values of all loans are estimated by discounting the estimated future cash flows using interest rates currently offered for loans with similar terms to borrowers of similar credit quality adjusted for past due and nonperforming loans, which is not an exit price under FASB ASC Topic 820, “Fair Value Measurements and Disclosures.” Loans held for sale : The estimated fair value of loans held for sale is based on market bids obtained from potential buyers. Off-balance sheet instruments : Many of First Commonwealth’s off-balance sheet instruments, primarily loan commitments and standby letters of credit, are expected to expire without being drawn upon; therefore, the commitment amounts do not necessarily represent future cash requirements. FASB ASC Topic 460, “Guarantees” clarified that a guarantor is required to recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee. The carrying amount and fair value for standby letters of credit was $0.2 million at June 30, 2017 and December 31, 2016 . See Note 6, “Commitments and Contingent Liabilities,” for additional information. Deposit liabilities : The estimated fair value of demand deposits, savings accounts and money market deposits is the amount payable on demand at the reporting date because of the customers’ ability to withdraw funds immediately. The carrying value of variable rate time deposit accounts and certificates of deposit approximate their fair values at the report date. Also, fair values of fixed rate time deposits for both periods are estimated by discounting the future cash flows using interest rates currently being offered and a schedule of aggregated expected maturities. Short-term borrowings : The fair values of borrowings from the FHLB were estimated based on the estimated incremental borrowing rate for similar types of borrowings. The carrying amounts of other short-term borrowings such as federal funds purchased and securities sold under agreement to repurchase were used to approximate fair value due to the short-term nature of the borrowings. Subordinated debt, long-term debt and capital lease obligation : The fair value is estimated by discounting the future cash flows using First Commonwealth’s estimate of the current market rate for similar types of borrowing arrangements or an announced redemption price. The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments: June 30, 2017 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 103,602 $ 103,602 $ 103,602 $ — $ — Interest-bearing deposits 12,310 12,310 12,310 — — Securities available for sale 786,246 786,246 — 750,928 35,318 Securities held to maturity 450,886 449,127 — 449,127 — Other investments 34,340 34,340 — 34,340 — Loans held for sale 9,785 9,785 — 9,785 — Loans 5,374,782 5,367,138 — 21,089 5,346,049 Financial liabilities Deposits 5,533,135 5,535,206 — 5,535,206 — Short-term borrowings 846,137 846,026 — 846,026 — Subordinated debt 72,167 65,917 — — 65,917 Long-term debt 8,458 8,953 — 8,953 — Capital lease obligation 7,764 7,764 — 7,764 — December 31, 2016 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 91,033 $ 91,033 $ 91,033 $ — $ — Interest-bearing deposits 24,644 24,644 24,644 — — Securities available for sale 778,612 778,612 — 743,650 34,962 Securities held to maturity 372,513 368,618 — 368,618 — Other investments 36,498 36,498 — 36,498 — Loans held for sale 7,052 7,052 — 7,052 — Loans 4,879,347 4,878,254 — 18,679 4,859,575 Financial liabilities Deposits 4,947,408 4,949,714 — 4,949,714 — Short-term borrowings 867,943 867,667 — 867,667 — Subordinated debt 72,167 65,656 — — 65,656 Long-term debt 8,749 9,169 — 9,169 — |
Derivatives
Derivatives | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Derivatives Derivatives Not Designated as Hedging Instruments First Commonwealth is a party to interest rate derivatives that are not designated as hedging instruments. These derivatives relate to interest rate swaps that First Commonwealth enters into with customers to allow customers to convert variable rate loans to a fixed rate. First Commonwealth pays interest to the customer at a floating rate on the notional amount and receives interest from the customer at a fixed rate for the same notional amount. At the same time the interest rate swap is entered into with the customer, an offsetting interest rate swap is entered into with another financial institution. First Commonwealth pays the other financial institution interest at the same fixed rate on the same notional amount as the swap entered into with the customer, and receives interest from the financial institution for the same floating rate on the same notional amount. The changes in the fair value of the swaps offset each other, except for the credit risk of the counterparties, which is determined by taking into consideration the risk rating, probability of default and loss given default for all counterparties. We have 28 risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are a participant. The risk participation agreements provide credit protection to the financial institution should the borrower fail to perform on its interest rate derivative contract with the financial institution. We have eight risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which we are the lead bank. The risk participation agreement provides credit protection to us should the borrower fail to perform on its interest rate derivative contract with us. First Commonwealth is also party to interest rate caps that are not designated as hedging instruments. These derivatives relate to contracts that First Commonwealth enters into with loan customers that provide a maximum interest rate on their variable rate loan. At the same time the interest rate cap is entered into with the customer, First Commonwealth enters into an offsetting interest rate cap with another financial institution. The notional amount and maximum interest rate on both interest cap contracts are identical. The fee received, less the estimate of the loss for the credit exposure, was recognized in earnings at the time of the transaction. Derivatives Designated as Hedging Instruments The Company has entered into four interest rate swap contracts that were designated as cash flow hedges. The interest rate swaps have a total notional amount of $200.0 million , $85.0 million with an original maturity of three years and $115.0 million with an original maturity of four years. The Company's risk management objective for these hedges is to reduce its exposure to variability in expected future cash flows related to interest payments on commercial loans benchmarked to the 1-month LIBOR rate. Therefore, the interest rate swaps convert the interest payments on the first $200.0 million of 1-month LIBOR based commercial loans into fixed rate payments. The periodic net settlement of interest rate swaps is recorded as an adjustment to "Interest and fees on loans" in the Condensed Consolidated Statements of Income. For the three and six months ended June 30, 2017 , there was a $0.1 million and $0.4 million impact, respectively, on interest income as a result of these interest rate swaps, respectively. Changes in the fair value of the effective portion of cash flow hedges are reported in OCI. When the cash flows associated with the hedged item are realized, the gain or loss included in OCI is recognized in "Interest and fees on loans," the same line item in the Condensed Consolidated Statements of Income as the income on the hedged items. The cash flow hedges were highly effective at June 30, 2017 and December 31, 2016 , and changes in the fair value attributed to hedge ineffectiveness were not material. The Company also enters into interest rate lock commitments in conjunction with its mortgage origination business. These are commitments to originate loans whereby the interest rate on the loan is determined prior to funding and the customers have locked into that interest rate. The Company locks the rate in with an investor and commits to deliver the loan if settlement occurs (“best efforts”) or commits to deliver the locked loan in a binding (“mandatory”) delivery program with an investor. Loans under mandatory rate lock commitments are covered under forward sales contracts of mortgage-backed securities (“MBS”). Forward sales contracts of MBS are recorded at fair value with changes in fair value recorded in "Other noninterest expense" in the Condensed Consolidated Statements of Income. The impact to noninterest expense for the six months ended June 30, 2017 totaled $0.1 million . Interest rate lock commitments and commitments to deliver loans to investors are considered derivatives. The market value of interest rate lock commitments and best efforts contracts are not readily ascertainable with precision because they are not actively traded in stand-alone markets. We determine the fair value of rate lock commitments and delivery contracts by measuring the fair value of the underlying asset, which is impacted by current interest rates and taking into consideration the probability that the rate lock commitments will close or will be funded. At June 30, 2017 , the underlying funded mortgage loan commitments had a carrying value of $9.3 million and a fair value of $9.6 million , while the underlying unfunded mortgage loan commitments had a notional amount of $22.2 million . In addition, a small amount of interest income on loans is exposed to changes in foreign exchange rates. Several commercial borrowers have a portion of their operations outside of the United States and borrow funds on a short-term basis to fund those operations. In order to reduce the risk related to the translation of foreign denominated transactions into U.S. dollars, the Company enters into foreign exchange forward contracts. These contracts relate principally to the Euro and the Canadian dollar. The contracts are recorded at fair value with changes in fair value recorded in "Other noninterest expense" in the Condensed Consolidated Statements of Income. The impact on other noninterest expense for the six months ended June 30, 2017 totaled $1 thousand . At June 30, 2017 and December 31, 2016 , the underlying loans had a carrying value of $8.2 million and $4.7 million , respectively, and a fair value of $8.3 million and $4.7 million , respectively. The following table depicts the credit value adjustment recorded related to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks: June 30, 2017 December 31, 2016 (dollars in thousands) Derivatives not Designated as Hedging Instruments Credit value adjustment $ (353 ) $ (317 ) Notional amount: Interest rate derivatives 337,020 345,102 Interest rate caps 26,500 14,762 Risk participation agreements 172,634 174,213 Sold credit protection on risk participation agreements (39,754 ) (40,281 ) Derivatives Designated as Hedging Instruments Interest rate swaps: Fair value adjustment (139 ) (443 ) Notional amount 200,000 200,000 Interest rate forwards: Fair value adjustment 95 — Notional amount 29,000 — Foreign exchange forwards: Fair value adjustment (76 ) (8 ) Notional amount 8,239 4,749 The table below presents the amount representing the change in the fair value of derivative assets and derivative liabilities attributable to credit risk included in "Other income" on the Condensed Consolidated Statements of Income: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 (dollars in thousands) Non-hedging interest rate derivatives Decrease in other income $ (37 ) $ (531 ) $ (35 ) $ (1,545 ) Hedging interest rate derivatives Increase in interest and fees on loans 136 424 385 854 (Decrease) increase in other expense (5 ) 26 73 41 Hedging interest rate forwards (Decrease) increase in other expense (17 ) — 95 — Hedging foreign exchange forwards (Decrease) increase in other expense (1 ) 4 1 7 The fair value of our derivatives is included in a table in Note 11, “Fair Values of Assets and Liabilities,” in the line items “Other assets” and “Other liabilities.” |
Goodwill
Goodwill | 6 Months Ended |
Jun. 30, 2017 | |
Goodwill Disclosure [Abstract] | |
Goodwill | Goodwill FASB ASC Topic 350-20, “Intangibles – Goodwill and Other” requires an annual valuation of the fair value of a reporting unit that has goodwill and a comparison of the fair value to the book value of equity to determine whether the goodwill has been impaired. Goodwill is also required to be tested on an interim basis if an event or circumstance indicates that it is more likely than not that an impairment loss has been incurred. When triggering events or circumstances indicate that goodwill testing is required, an assessment of qualitative factors can be completed before performing the two step goodwill impairment test. ASU 2011-8 provides that if an assessment of qualitative factors determines it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, then the two step goodwill impairment test is not required. We consider First Commonwealth to be one reporting unit. The carrying amount of goodwill as of June 30, 2017 and December 31, 2016 was $255.4 million and $186.5 million , respectively. Goodwill increased $68.9 million during the six months ended June 30, 2017 due to $70.5 million recognized as a result of the DCB acquisition in the second quarter of 2017 and a $1.6 million decrease related to adjustments to the fair value of assets acquired as part of the branch acquisition in the fourth quarter of 2016. No impairment charges on goodwill or other intangible assets were incurred in 2017 or 2016 . We test goodwill for impairment as of November 30th each year and again at any quarter-end if any material events occur during a quarter that may affect goodwill. As of June 30, 2017 , goodwill was not considered impaired; however, changing economic conditions that may adversely affect our performance, the fair value of our assets and liabilities, or our stock price could result in impairment, which could adversely affect earnings in future periods. Management will continue to monitor events that could impact this conclusion in the future. |
New Accounting Pronouncements (
New Accounting Pronouncements (Notes) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements In August 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606)”. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)", with an original effective date for annual reporting periods beginning after December 15, 2016. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2015-14 deferred the effective date of ASU 2014-09 to annual periods and interim periods within those annual periods beginning after December 15, 2017. A significant component of the Company’s revenues, net interest income on financial assets and liabilities, is excluded from the scope of the amended guidance. The Company is the process of identifying and evaluating certain noninterest revenue streams, including trust and asset management fees, deposit related fees, interchange fees, and merchant income to determine the potential impact of the guidance on the Company’s Consolidated Financial Statements. The Company has decided to use the modified retrospective method for transition in which the cumulative effect will be recognized at the date of adoption with no restatement of comparative periods presented. The Company expects additional financial statement disclosures and associated internal controls to be implemented along with the adoption of this ASU. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)," in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Lessor accounting under the new guidance remains largely unchanged as it is substantially equivalent to existing guidance for sales-type leases, direct financing leases, and operating leases. Leveraged leases have been eliminated, although lessors can continue to account for existing leveraged leases using the current accounting guidance. Other limited changes were made to align lessor accounting with the lessee accounting model and the new revenue recognition standard. All entities will classify leases to determine how to recognize lease-related revenue and expense. Quantitative and qualitative disclosures will be required by lessees and lessors to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The intention is to require enough information to supplement the amounts recorded in the financial statements so that users can understand more about the nature of an entity’s leasing activities. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. All entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. Entities have the option to use certain relief; full retrospective application is prohibited. We are currently evaluating the potential impact of ASU 2016-02 on our financial statements. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments,” which amends the guidance for recognizing credit losses from an “incurred loss” methodology that delays recognition of credit losses until it is probable a loss has been incurred to an expected credit loss methodology. The guidance requires the use of the modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. The standard is effective for the Company as of January 1, 2020. Management is currently evaluating the impact of the amended guidance on First Commonwealth’s financial condition or results of operations. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230),” which provides guidance on eight specific cash flow issues: 1. debt prepayment or extinguishment costs; 2. settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates; 3. contingent consideration payments made after a business combination; 4. proceeds from the settlement of insurance claims; 5. proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies; 6. distributions received from equity method investees; 7. beneficial interests in securitizations transactions; and 8. separately identifiable cash flows and application of the predominance principle. This ASU provides additional guidance for these eight issues, reducing current and potential diversity in practice. This standard is effective for the Company as of January 1, 2018. The adoption of this ASU is not expected to have a material impact on First Commonwealth’s financial condition or results of operations. In January 2017, the FASB issued ASU No. 2017-01, "Business Combinations (Topic 805), Clarifying the Definition of a Business" which provides a screen to determine when a set of assets and activities (a "set") is not a business. The screen requires, that when substantially all of the fair value of gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen thereby reduces the number of transactions that need to be further evaluated. If the screen is not met, this ASU 1. requires that to be considered a business, a set must include, at a minimum, an input and substantive process that significantly contributes to the ability to create output and 2. removes the evaluation of whether a market participant could replace the missing elements. The amendment provides a framework to assist entities in evaluating whether both an input and substantive process is present. The framework includes two sets of criteria to consider that depend on whether a set has outputs. This ASU also narrows the definition of the term output so that the term is consistent with how outputs are described in Topic 606. This standard is effective for interim and annual periods for fiscal years beginning after December 15, 2017. The adoption of this ASU is not expected to have a material impact on First Commonwealth’s financial condition or results of operations. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles-Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment" which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under this ASU, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. Impairment should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to the reporting unit. Income tax effects from any tax deductible goodwill should be taken into consideration of the carrying amount of the reporting unit when measuring for goodwill impairment, if applicable. An entity still has the option to perform the qualitative assessment for the reporting unit to determine if the quantitative impairment test is necessary. This standard is effective for interim and annual periods for fiscal years beginning after December 15, 2019. The adoption of this ASU is not expected to have a material impact on First Commonwealth’s financial condition or results of operations. In March 2017, the FASB issued ASU No. 2017-07, "Compensation-Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" which shortens the amortization period for certain callable debt securities held at a premium. Specifically, the ASU requires the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. This standard is effective for annual periods for fiscal years beginning after December 15, 2019. The adoption of this ASU is not expected to have a material impact on First Commonwealth’s financial condition or results of operations. |
Acquisition Schedule of Busines
Acquisition Schedule of Business Combination (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Business Acquisition [Line Items] | |
Business Combination, Segment Allocation [Table Text Block] | The table below summarizes the net assets acquired (at fair value) and consideration transferred in connection with the DCB acquisition (dollars in thousands): Consideration Paid Cash paid to shareholders $ 21,232 Shares issued to shareholders (8,356,882 shares) 110,812 Total consideration paid $ 132,044 Fair Value of Assets Acquired Cash and cash equivalents 24,420 Investment securities 88,986 FHLB stock 3,250 Loans 383,083 Premises and other equipment 12,143 Core deposit intangible 5,998 Other real estate 68 Bank owned life insurance 20,522 Other assets 16,436 Total assets acquired 554,906 Fair Value of Liabilities Assumed Deposits 484,366 Capital lease obligation 7,851 Other liabilities 1,182 Total liabilities assumed 493,399 Total Fair Value of Identifiable Net Assets 61,507 Goodwill $ 70,537 |
Supplemental Comprehensive In24
Supplemental Comprehensive Income Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Supplemental Comprehensive Income Disclosures [Abstract] | |
Supplemental Comprehensive Income Disclosures | The following table identifies the related tax effects allocated to each component of other comprehensive income (“OCI”) in the Condensed Consolidated Statements of Comprehensive Income. Reclassification adjustments related to securities available for sale are included in the "Net securities (losses) gains" line and reclassification adjustments related to losses on derivatives are included in the "Other operating expenses" line in the Condensed Consolidated Statements of Income. For the Six Months Ended June 30, 2017 2016 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains on securities: Unrealized holding gains on securities arising during the period $ 4,245 $ (1,486 ) $ 2,759 $ 13,872 $ (4,855 ) $ 9,017 Reclassification adjustment for gains on securities included in net income (603 ) 211 (392 ) (28 ) 10 (18 ) Total unrealized gains on securities 3,642 (1,275 ) 2,367 13,844 (4,845 ) 8,999 Unrealized (losses) gains on derivatives: Unrealized holding (losses) gains on derivatives arising during the period (582 ) 204 (378 ) 2,094 (733 ) 1,361 Reclassification adjustment for losses (gains) on derivatives included in net income 73 (26 ) 47 (41 ) 14 (27 ) Total unrealized (losses) gains on derivatives (509 ) 178 (331 ) 2,053 (719 ) 1,334 Total other comprehensive income $ 3,133 $ (1,097 ) $ 2,036 $ 15,897 $ (5,564 ) $ 10,333 For the Three Months Ended June 30, 2017 2016 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized gains on securities: Unrealized holding gains on securities arising during the period $ 1,702 $ (596 ) $ 1,106 $ 3,802 $ (1,331 ) $ 2,471 Reclassification adjustment for losses (gains) on securities included in net income 49 (17 ) 32 (28 ) 10 (18 ) Total unrealized gains on securities 1,751 (613 ) 1,138 3,774 (1,321 ) 2,453 Unrealized (losses) gains on derivatives: Unrealized holding (losses) gains on derivatives arising during the period (66 ) 23 (43 ) 359 (126 ) 233 Reclassification adjustment for gains on derivatives included in net income (5 ) 2 (3 ) (26 ) 9 (17 ) Total unrealized (losses) gains on derivatives (71 ) 25 (46 ) 333 (117 ) 216 Total other comprehensive income $ 1,680 $ (588 ) $ 1,092 $ 4,107 $ (1,438 ) $ 2,669 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table details the change in components of OCI for the six months ended June 30 : 2017 2016 Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) Securities Available for Sale Post-Retirement Obligation Derivatives Accumulated Other Comprehensive Income (Loss) (dollars in thousands) Balance at December 31 $ (7,455 ) $ 225 $ 203 $ (7,027 ) $ (2,956 ) $ 10 $ 560 $ (2,386 ) Other comprehensive income before reclassification adjustment 2,759 — (378 ) 2,381 9,017 — 1,361 10,378 Amounts reclassified from accumulated other comprehensive (loss) income (392 ) — 47 (345 ) (18 ) — (27 ) (45 ) Net other comprehensive income during the period 2,367 — (331 ) 2,036 8,999 — 1,334 10,333 Balance at June 30 $ (5,088 ) $ 225 $ (128 ) $ (4,991 ) $ 6,043 $ 10 $ 1,894 $ 7,947 |
Supplemental Cash Flow Disclo25
Supplemental Cash Flow Disclosures (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Supplemental Cash Flow Information [Abstract] | |
Schedule of Supplemental Cash Flow Disclosures | The following table presents information related to cash paid during the period for interest, as well as detail on non-cash investing and financing activities for the six months ended June 30 : 2017 2016 (dollars in thousands) Cash paid during the period for: Interest $ 8,917 $ 9,583 Income taxes 11,394 10,500 Non-cash investing and financing activities: Loans transferred to other real estate owned and repossessed assets 1,519 2,632 Loans transferred from held to maturity to held for sale 9,053 3,573 Gross increase in market value adjustment to securities available for sale 3,642 13,845 Gross (decrease) increase in market value adjustment to securities derivatives (508 ) 2,053 Investments committed to purchase, not settled — 1,946 Noncash treasury stock reissuance 2,258 — Net assets acquired through acquisition 37,087 — Proceeds from death benefit on bank-owned life insurance not received — 523 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |
Composition of Weighted-Average Common Shares (Denominator) Used in Basic and Diluted Earnings Per Share | The following table summarizes the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computations: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 Weighted average common shares issued 113,731,354 105,563,455 109,669,968 105,563,455 Average treasury stock shares (16,435,520 ) (16,620,341 ) (16,481,109 ) (16,621,717 ) Average unearned nonvested shares (112,235 ) (111,356 ) (109,313 ) (105,815 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 97,183,599 88,831,758 93,079,546 88,835,923 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 48,689 6,856 46,393 4,760 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 97,232,288 88,838,614 93,125,939 88,840,683 |
Common Stock Equivalents Not Included in Computation of Diluted Earnings Per Share | The following table shows the number of shares and the price per share related to common stock equivalents that were not included in the computation of diluted earnings per share for the six months ended June 30 because to do so would have been antidilutive. 2017 2016 Price Range Price Range Shares From To Shares From To Restricted Stock 26,022 $ 9.26 $ 13.96 81,887 $ 7.57 $ 9.84 Restricted Stock Units 24,375 $ 15.09 $ 15.09 — $ — $ — |
Commitments and Contingent Li27
Commitments and Contingent Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Notional Amount of Outstanding Commitments | The following table identifies the notional amount of those instruments at: June 30, 2017 December 31, 2016 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 1,787,811 $ 1,733,820 Financial standby letters of credit 15,540 18,108 Performance standby letters of credit 25,760 26,630 Commercial letters of credit 871 1,301 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Schedule of Held-to-maturity Securities [Line Items] | |
Analysis of Amortized Cost and Estimated Fair Value of Securities Available for Sale | Below is an analysis of the amortized cost and estimated fair values of securities available for sale at: June 30, 2017 December 31, 2016 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 13,839 $ 1,352 $ (7 ) $ 15,184 $ 15,143 $ 1,481 $ (7 ) $ 16,617 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 694,114 4,638 (8,063 ) 690,689 683,601 4,557 (11,305 ) 676,853 Mortgage-Backed Securities – Commercial — — — — 1 — — 1 Other Government-Sponsored Enterprises 1,096 — — 1,096 16,700 — (69 ) 16,631 Obligations of States and Political Subdivisions 27,079 476 — 27,555 27,075 195 (41 ) 27,229 Corporate Securities 15,899 505 — 16,404 5,903 416 — 6,319 Pooled Trust Preferred Collateralized Debt Obligations 40,378 463 (7,193 ) 33,648 39,989 427 (7,124 ) 33,292 Total Debt Securities 792,405 7,434 (15,263 ) 784,576 788,412 7,076 (18,546 ) 776,942 Equities 1,670 — — 1,670 1,670 — — 1,670 Total Securities Available for Sale $ 794,075 $ 7,434 $ (15,263 ) $ 786,246 $ 790,082 $ 7,076 $ (18,546 ) $ 778,612 |
Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale | The amortized cost and estimated fair value of debt securities available for sale at June 30, 2017 , by contractual maturity, are shown below. Amortized Estimated (dollars in thousands) Due within 1 year $ 996 $ 997 Due after 1 but within 5 years 14,087 14,176 Due after 5 but within 10 years 27,079 27,555 Due after 10 years 42,290 35,975 84,452 78,703 Mortgage-Backed Securities (a) 707,953 705,873 Total Debt Securities $ 792,405 $ 784,576 (a) Mortgage-Backed Securities include an amortized cost of $13.8 million and a fair value of $15.2 million for Obligations of U.S. |
Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale | Proceeds from sales, gross gains (losses) realized on sales, maturities and other-than-temporary impairment charges related to securities available for sale were as follows for the six months ended June 30 : 2017 2016 (dollars in thousands) Proceeds from sales $ 103,618 $ 55,744 Gross gains (losses) realized: Sales Transactions: Gross gains $ — $ 304 Gross losses (49 ) (276 ) (49 ) 28 Maturities and impairment Gross gains 712 — Gross losses (60 ) — 652 — Net gains and impairment $ 603 $ 28 |
Investment Securities Maturity
Investment Securities Maturity of Held-to-Maturity Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Schedule of Held-to-maturity Securities [Line Items] | |
Held-to-maturity Securities [Table Text Block] | Below is an analysis of the amortized cost and fair values of debt securities held to maturity at: June 30, 2017 December 31, 2016 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 4,142 $ — $ (13 ) $ 4,129 $ 4,297 $ — $ (4 ) $ 4,293 Mortgage-Backed Securities- Commercial 58,780 — (727 ) 58,053 34,444 — (561 ) 33,883 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 332,768 193 (1,527 ) 331,434 280,430 5 (2,527 ) 277,908 Mortgage-Backed Securities – Commercial 14,393 22 — 14,415 14,675 — (142 ) 14,533 Obligations of States and Political Subdivisions 40,603 431 (138 ) 40,896 38,667 55 (721 ) 38,001 Debt Securities Issued by Foreign Governments 200 — — 200 — — — — Total Securities Held to Maturity $ 450,886 $ 646 $ (2,405 ) $ 449,127 $ 372,513 $ 60 $ (3,955 ) $ 368,618 |
Schedule of Held-to-Maturity Securities by Maturity [Table Text Block] | The amortized cost and estimated fair value of debt securities held to maturity at June 30, 2017 , by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Amortized Estimated (dollars in thousands) Due within 1 year $ — $ — Due after 1 but within 5 years 3,118 3,142 Due after 5 but within 10 years 32,061 32,354 Due after 10 years 5,624 5,600 40,803 41,096 Mortgage-Backed Securities (a) 410,083 408,031 Total Debt Securities $ 450,886 $ 449,127 (a) Mortgage-Backed Securities include an amortized cost of $62.9 million and a fair value of $62.2 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $347.2 million and a fair value of $345.8 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Impairment of Investment Secu30
Impairment of Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Impairment of Investment Securities Disclosure [Abstract] | |
Schedule of Unrealized Losses and Estimated Fair Values | The following table presents the gross unrealized losses and estimated fair values at June 30, 2017 for both available for sale and held to maturity securities by investment category and time frame for which securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Estimated Gross Estimated Gross Estimated Gross (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 5,825 $ (20 ) $ — $ — $ 5,825 $ (20 ) Mortgage-Backed Securities – Commercial 58,053 (727 ) — — 58,053 (727 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 634,704 (7,786 ) 63,386 (1,804 ) 698,090 (9,590 ) Other Government-Sponsored Enterprises 100 — — — 100 — Obligations of States and Political Subdivisions 7,786 (138 ) — — 7,786 (138 ) Pooled Trust Preferred Collateralized Debt Obligations — — 29,187 (7,193 ) 29,187 (7,193 ) Total Securities $ 706,468 $ (8,671 ) $ 92,573 $ (8,997 ) $ 799,041 $ (17,668 ) The following table presents the gross unrealized losses and estimated fair values at December 31, 2016 by investment category and time frame for which securities have been in a continuous unrealized loss position: Less Than 12 Months 12 Months or More Total Estimated Gross Estimated Gross Estimated Gross (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 4,898 $ (11 ) $ — $ — $ 4,898 $ (11 ) Mortgage-Backed Securities - Commercial 33,883 (561 ) — — 33,883 (561 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 670,708 (11,630 ) 56,200 (2,202 ) 726,908 (13,832 ) Mortgage-Backed Securities – Commercial 14,534 (142 ) — — 14,534 (142 ) Other Government-Sponsored Enterprises 16,632 (69 ) — — 16,632 (69 ) Obligation of States and Political Subdivisions 33,277 (762 ) — — 33,277 (762 ) Pooled Trust Preferred Collateralized Debt Obligations — — 28,952 (7,124 ) 28,952 (7,124 ) Total Securities $ 773,932 $ (13,175 ) $ 85,152 $ (9,326 ) $ 859,084 $ (22,501 ) |
Pooled Trust Preferred Collateralized Debt Obligations | The following table provides information related to our pooled trust preferred collateralized debt obligations as of June 30, 2017 : Deal Class Book Estimated Fair Unrealized Moody’s/ Number Deferrals Excess (dollars in thousands) Pre TSL IV Mezzanine $ 1,823 $ 1,361 $ (462 ) Ba1/BB 6 18.05 % 60.51 % Pre TSL VIII Mezzanine 1,983 2,139 156 C/C 27 40.34 0.00 Pre TSL IX Mezzanine 2,430 1,965 (465 ) B1/C 37 27.83 11.71 Pre TSL X Mezzanine 1,801 2,016 215 Caa1/C 42 30.10 1.97 Pre TSL XII Mezzanine 5,991 4,913 (1,078 ) B3/C 64 24.13 0.00 Pre TSL XIII Mezzanine 13,070 10,965 (2,105 ) Ba1/CCC 52 8.02 45.06 Pre TSL XIV Mezzanine 13,066 9,983 (3,083 ) Ba2/CCC 52 12.87 40.25 MMCap I Mezzanine 214 306 92 Ca/C 8 58.11 83.52 Total $ 40,378 $ 33,648 $ (6,730 ) |
Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities held and not Intended to be Sold | The following table provides a cumulative roll forward of credit losses recognized in earnings for debt securities held and not intended to be sold: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 (dollars in thousands) Balance, beginning (a) $ 16,828 $ 24,590 $ 17,056 $ 24,851 Credit losses on debt securities for which other-than-temporary impairment was not previously recognized — — — — Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized — — — — Increases in cash flows expected to be collected, recognized over the remaining life of the security (b) (218 ) (280 ) (446 ) (541 ) Reduction for debt securities called during the period — — — — Balance, ending $ 16,610 $ 24,310 $ 16,610 $ 24,310 (a) The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods. (b) Represents the increase in cash flows recognized in interest income during the period. |
Loans and Allowance for Credi31
Loans and Allowance for Credit Losses (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Outstanding Balances of Loan | The following table provides outstanding balances related to each of our loan types: June 30, 2017 December 31, 2016 Originated Acquired Total Originated Acquired Total (dollars in thousands) Commercial, financial, agricultural and other $ 1,157,542 $ 42,258 $ 1,199,800 $ 1,131,148 $ 8,399 $ 1,139,547 Real estate construction 237,035 12,220 249,255 217,840 1,781 219,621 Residential real estate 1,169,217 247,709 1,416,926 1,165,851 63,341 1,229,192 Commercial real estate 1,819,590 143,411 1,963,001 1,717,043 25,167 1,742,210 Loans to individuals 535,819 9,981 545,800 546,589 2,188 548,777 Total loans $ 4,919,203 $ 455,579 $ 5,374,782 $ 4,778,471 $ 100,876 $ 4,879,347 |
Credit Risk Profile by Creditworthiness | The following tables represent our credit risk profile by creditworthiness: June 30, 2017 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,076,627 $ 237,035 $ 1,155,603 $ 1,767,348 $ 535,611 $ 4,772,224 Non-Pass OAEM 47,113 — 3,076 34,630 — 84,819 Substandard 28,828 — 10,538 17,612 208 57,186 Doubtful 4,974 — — — — 4,974 Total Non-Pass 80,915 — 13,614 52,242 208 146,979 Total $ 1,157,542 $ 237,035 $ 1,169,217 $ 1,819,590 $ 535,819 $ 4,919,203 Acquired loans Pass $ 40,132 $ 12,220 $ 245,180 $ 134,825 $ 9,981 $ 442,338 Non-Pass OAEM 1,193 — 942 3,518 — 5,653 Substandard 933 — 1,587 5,068 — 7,588 Doubtful — — — — — — Total Non-Pass 2,126 — 2,529 8,586 — 13,241 Total $ 42,258 $ 12,220 $ 247,709 $ 143,411 $ 9,981 $ 455,579 December 31, 2016 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,038,844 $ 217,565 $ 1,152,511 $ 1,691,220 $ 546,316 $ 4,646,456 Non-Pass OAEM 27,387 275 5,923 7,596 — 41,181 Substandard 64,917 — 7,417 18,227 273 90,834 Doubtful — — — — — — Total Non-Pass 92,304 275 13,340 25,823 273 132,015 Total $ 1,131,148 $ 217,840 $ 1,165,851 $ 1,717,043 $ 546,589 $ 4,778,471 Acquired loans Pass $ 7,591 $ 1,781 $ 62,919 $ 24,043 $ 2,185 $ 98,519 Non-Pass OAEM 486 — — — — 486 Substandard 322 — 422 1,124 3 1,871 Doubtful — — — — — — Total Non-Pass 808 — 422 1,124 3 2,357 Total $ 8,399 $ 1,781 $ 63,341 $ 25,167 $ 2,188 $ 100,876 |
Age Analysis of Past Due Loans by Segment | The following tables delineate the aging analysis of the recorded investments in past due loans as of June 30, 2017 and December 31, 2016 . Also included in these tables are loans that are 90 days or more past due and still accruing because they are well-secured and in the process of collection. June 30, 2017 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 1,864 $ 88 $ 48 $ 12,561 $ 14,561 $ 1,142,981 $ 1,157,542 Real estate construction — — — — — 237,035 237,035 Residential real estate 3,325 1,189 1,015 6,363 11,892 1,157,325 1,169,217 Commercial real estate 863 166 5 3,802 4,836 1,814,754 1,819,590 Loans to individuals 1,487 615 712 208 3,022 532,797 535,819 Total $ 7,539 $ 2,058 $ 1,780 $ 22,934 $ 34,311 $ 4,884,892 $ 4,919,203 Acquired loans Commercial, financial, agricultural and other $ — $ — $ — $ 563 $ 563 $ 41,695 $ 42,258 Real estate construction — — — — — 12,220 12,220 Residential real estate 68 133 106 626 933 246,776 247,709 Commercial real estate — — — 3,298 3,298 140,113 143,411 Loans to individuals 65 27 12 — 104 9,877 9,981 Total $ 133 $ 160 $ 118 $ 4,487 $ 4,898 $ 450,681 $ 455,579 December 31, 2016 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 2,380 $ 171 $ 75 $ 17,928 $ 20,554 $ 1,110,594 $ 1,131,148 Real estate construction 183 — — — 183 217,657 217,840 Residential real estate 4,133 1,089 995 5,792 12,009 1,153,842 1,165,851 Commercial real estate 265 327 57 3,443 4,092 1,712,951 1,717,043 Loans to individuals 1,640 776 970 273 3,659 542,930 546,589 Total $ 8,601 $ 2,363 $ 2,097 $ 27,436 $ 40,497 $ 4,737,974 $ 4,778,471 Acquired loans Commercial, financial, agricultural and other $ 486 $ — $ — $ — $ 486 $ 7,913 $ 8,399 Real estate construction — — — — — 1,781 1,781 Residential real estate 148 39 34 422 643 62,698 63,341 Commercial real estate — — — 162 162 25,005 25,167 Loans to individuals 1 7 — 3 11 2,177 2,188 Total $ 635 $ 46 $ 34 $ 587 $ 1,302 $ 99,574 $ 100,876 |
Recorded Investment and Unpaid Principal Balance for Impaired Loans with Associated Allowance | The following tables include the recorded investment and unpaid principal balance for impaired loans with the associated allowance amount, if applicable, as of June 30, 2017 and December 31, 2016 . Also presented are the average recorded investment in impaired loans and the related amount of interest recognized while the loan was considered impaired. Average balances are calculated using month-end balances of the loans for the period reported and are included in the table below based on their period-end allowance position. June 30, 2017 December 31, 2016 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Originated loans: With no related allowance recorded: Commercial, financial, agricultural and other $ 8,290 $ 14,697 $ 9,549 $ 15,369 Real estate construction — — — — Residential real estate 11,128 12,975 10,873 13,004 Commercial real estate 6,524 7,498 5,765 6,905 Loans to individuals 341 391 382 507 Subtotal 26,283 35,561 26,569 35,785 With an allowance recorded: Commercial, financial, agricultural and other 8,634 12,699 $ 1,681 13,423 19,226 $ 2,530 Real estate construction — — — — — — Residential real estate 342 459 31 424 475 164 Commercial real estate 428 427 259 810 810 434 Loans to individuals — — — — — — Subtotal 9,404 13,585 1,971 14,657 20,511 3,128 Total $ 35,687 $ 49,146 $ 1,971 $ 41,226 $ 56,296 $ 3,128 June 30, 2017 December 31, 2016 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Acquired loans With no related allowance recorded: Commercial, financial, agricultural and other $ 72 $ 72 $ — $ — Real estate construction — — — — Residential real estate 624 943 406 480 Commercial real estate 3,140 4,012 162 162 Loans to individuals — — 3 3 Subtotal 3,836 5,027 571 645 With an allowance recorded: Commercial, financial, agricultural and other 490 490 $ 110 — — $ — Real estate construction — — — — — — Residential real estate 14 28 4 16 16 16 Commercial real estate 158 162 50 — — — Loans to individuals — — — — — — Subtotal 662 680 164 16 16 16 Total $ 4,498 $ 5,707 $ 164 $ 587 $ 661 $ 16 For the Six Months Ended June 30, 2017 2016 Originated Loans Acquired Loans Originated Loans Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 13,888 $ 289 $ 36 $ — $ 20,116 $ 249 Real estate construction — — 50 — 9 44 Residential real estate 11,434 185 465 7 11,232 137 Commercial real estate 6,586 88 1,575 — 7,136 67 Loans to individuals 341 11 — — 442 3 Subtotal 32,249 573 2,126 7 38,935 500 With an allowance recorded: Commercial, financial, agricultural and other 9,220 46 82 — 17,939 91 Real estate construction — — — — — — Residential real estate 279 — 7 — 347 — Commercial real estate 484 13 161 — 861 11 Loans to individuals — — — — — — Subtotal 9,983 59 250 — 19,147 102 Total $ 42,232 $ 632 $ 2,376 $ 7 $ 58,082 $ 602 For the Three Months Ended June 30, 2017 2016 Originated Loans Acquired Loans Originated Loans Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 12,583 $ 251 $ 72 $ — $ 18,995 $ 95 Real estate construction — — 100 — — — Residential real estate 11,339 110 623 7 11,462 90 Commercial real estate 6,596 34 3,151 — 6,887 29 Loans to individuals 344 9 — — 405 2 Subtotal 30,862 404 3,946 7 37,749 216 With an allowance recorded: Commercial, financial, agricultural and other 8,813 20 164 — 22,788 65 Real estate construction — — — — — — Residential real estate 332 — 14 — 476 — Commercial real estate 481 6 160 — 921 6 Loans to individuals — — — — — — Subtotal 9,626 26 338 — 24,185 71 Total $ 40,488 $ 430 $ 4,284 $ 7 $ 61,934 $ 287 |
Troubled Debt Restructured Loans and Commitments | The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings: For the Six Months Ended June 30, 2017 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 4 $ 6,768 $ 1,786 $ — $ 8,554 $ 6,422 $ 960 Residential real estate 12 129 187 413 729 683 4 Commercial real estate 3 179 — 84 263 258 — Loans to individuals 7 — 17 48 65 56 — Total 26 $ 7,076 $ 1,990 $ 545 $ 9,611 $ 7,419 $ 964 For the Six Months Ended June 30, 2016 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 5 $ 92 $ 4,009 $ — $ 4,101 $ 3,708 $ 40 Residential real estate 26 — 114 2,416 2,530 2,440 — Commercial real estate 6 1,264 — 25 1,289 1,227 74 Loans to individuals 5 — 29 11 40 30 — Total 42 $ 1,356 $ 4,152 $ 2,452 $ 7,960 $ 7,405 $ 114 The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans: June 30, 2017 December 31, 2016 (dollars in thousands) Troubled debt restructured loans Accrual status $ 12,764 $ 13,790 Nonaccrual status 11,868 11,569 Total $ 24,632 $ 25,359 Commitments Letters of credit $ 60 $ — Unused lines of credit 87 358 Total $ 147 $ 358 |
Troubled Debt Restructuring Subsequent Default [Table Text Block] | A troubled debt restructuring is considered to be in default when a restructured loan is 90 days or more past due. The following table provides information related to restructured loans that were considered to be in default during the six months ended June 30 : 2017 2016 Number of Recorded Number of Recorded (dollars in thousands) Residential real estate 4 $ 103 — $ — Total 4 $ 103 — $ — The following table provides information related to restructured loans that were considered to be in default during the three months ended June 30 : 2017 2016 Number of Recorded Number of Recorded (dollars in thousands) Residential real estate 4 $ 103 — $ — Total 4 $ 103 — $ — |
Allowance for Credit Losses | he following tables provide detail related to the allowance for credit losses: For the Six Months Ended June 30, 2017 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 35,974 $ 577 $ 2,492 $ 6,619 $ 4,504 $ 50,166 Charge-offs (5,277 ) — (610 ) (60 ) (2,170 ) (8,117 ) Recoveries 3,636 96 192 146 248 4,318 Provision (credit) (961 ) 95 42 602 1,750 1,528 Ending balance 33,372 768 2,116 7,307 4,332 47,895 Acquired loans: Beginning balance — — 19 — — 19 Charge-offs — — (9 ) — (8 ) (17 ) Recoveries — — 1 27 4 46 78 Provision (credit) 118 (1 ) (33 ) 46 (38 ) 92 Ending balance 118 — 4 50 — 172 Total ending balance $ 33,490 $ 768 $ 2,120 $ 7,357 $ 4,332 $ 48,067 Ending balance: individually evaluated for impairment $ 1,791 $ — $ 35 $ 309 $ — $ 2,135 Ending balance: collectively evaluated for impairment 31,699 768 2,085 7,048 4,332 45,932 Loans: Ending balance 1,199,800 249,255 1,416,926 1,963,001 545,800 5,374,782 Ending balance: individually evaluated for impairment 16,917 — 6,978 8,697 — 32,592 Ending balance: collectively evaluated for impairment 1,182,883 249,255 1,409,948 1,954,304 545,800 5,342,190 For the Six Months Ended June 30, 2016 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Beginning balance $ 31,035 $ 887 $ 2,606 $ 11,924 $ 4,360 $ 50,812 Charge-offs (6,145 ) — (602 ) (408 ) (2,491 ) (9,646 ) Recoveries 198 227 260 783 289 1,757 Provision (credit) 21,269 (634 ) 341 (6,437 ) 2,359 16,898 Ending balance $ 46,357 $ 480 $ 2,605 $ 5,862 $ 4,517 $ 59,821 Ending balance: individually evaluated for impairment $ 15,018 $ — $ 48 $ 464 $ — $ 15,530 Ending balance: collectively evaluated for impairment 31,339 480 2,557 5,398 4,517 44,291 Loans: Ending balance 1,185,062 242,132 1,199,005 1,648,222 569,355 4,843,776 Ending balance: individually evaluated for impairment 43,817 — 5,966 6,017 — 55,800 Ending balance: collectively evaluated for impairment 1,141,245 242,132 1,193,039 1,642,205 569,355 4,787,976 For the Three Months Ended June 30, 2017 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 34,701 $ 614 $ 2,414 $ 6,582 $ 4,334 $ 48,645 Charge-offs (1,452 ) — (145 ) (29 ) (972 ) (2,598 ) Recoveries 3,268 42 70 29 120 3,529 Provision (credit) (3,145 ) 112 (223 ) 725 850 (1,681 ) Ending balance 33,372 768 2,116 7,307 4,332 47,895 Acquired loans: Beginning balance — — 31 — — 31 Charge-offs — — (1 ) — (1 ) (2 ) Recoveries — 1 21 4 45 71 Provision (credit) 118 (1 ) (47 ) 46 (44 ) 72 Ending balance 118 — 4 50 — 172 Total ending balance $ 33,490 $ 768 $ 2,120 $ 7,357 $ 4,332 $ 48,067 For the Three Months Ended, June 30, 2016 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Beginning balance $ 41,721 $ 901 $ 2,628 $ 5,483 $ 4,489 $ 55,222 Charge-offs (4,753 ) — (220 ) (143 ) (1,022 ) (6,138 ) Recoveries 64 4 142 27 128 365 Provision (credit) 9,325 (425 ) 55 495 922 10,372 Ending balance $ 46,357 $ 480 $ 2,605 $ 5,862 $ 4,517 $ 59,821 |
Fair Values of Assets and Lia32
Fair Values of Assets and Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Inputs, Assets, Quantitative Information | In accordance with ASU 2011 -4 , the following table provides information related to quantitative inputs and assumptions used in Level 3 fair value measurements. Fair Value (dollars Valuation Unobservable Inputs Range / Pooled Trust Preferred Securities $ 33,648 Discounted Cash Flow Probability of default 0% - 100% (9.56%) Prepayment rates 0% - 72.4% (4.15%) Discount rates 5.25% - 12.00% (a) Equities 1,670 Par Value N/A N/A Impaired Loans 2,190 (b) Reserve study Discount rate 10.00% Gas per MMBTU $2.87 - $3.61 (c) Oil per BBL/d $56.05 - $57.65 (c) 7,038 (b) Discounted Cash Flow Discount Rate 1.90% - 4.68% Limited Partnership Investments 1,477 Par Value N/A N/A (a) Incorporates spread over risk free rate related primarily to credit quality and illiquidity of securities. (b) The remainder of impaired loans valued using Level 3 inputs are not included in this disclosure as the values of those loans are based on bankruptcy agreement documentation. (c) Unobservable inputs are defined as follows: MMBTU - million British thermal units; BBL/d - barrels per day. |
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | The tables below present the balances of assets and liabilities measured at fair value on a recurring basis: June 30, 2017 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 15,184 $ — $ 15,184 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 690,689 — 690,689 Mortgage-Backed Securities - Commercial — — — — Other Government-Sponsored Enterprises — 1,096 — 1,096 Obligations of States and Political Subdivisions — 27,555 — 27,555 Corporate Securities — 16,404 — 16,404 Pooled Trust Preferred Collateralized Debt Obligations — — 33,648 33,648 Total Debt Securities — 750,928 33,648 784,576 Equities — — 1,670 1,670 Total Securities Available for Sale — 750,928 35,318 786,246 Other Investments — 34,340 — 34,340 Loans Held for Sale — 9,785 — 9,785 Other Assets(a) — 4,396 1,477 5,873 Total Assets $ — $ 799,449 $ 36,795 $ 836,244 Other Liabilities(a) $ — $ 5,147 $ — $ 5,147 Total Liabilities $ — $ 5,147 $ — $ 5,147 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments December 31, 2016 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 16,617 $ — $ 16,617 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 676,853 — 676,853 Mortgage-Backed Securities - Commercial — 1 — 1 Other Government-Sponsored Enterprises — 16,631 — 16,631 Obligations of States and Political Subdivisions — 27,229 — 27,229 Corporate Securities — 6,319 — 6,319 Pooled Trust Preferred Collateralized Debt Obligations — — 33,292 33,292 Total Debt Securities — 743,650 33,292 776,942 Equities — — 1,670 1,670 Total Securities Available for Sale — 743,650 34,962 778,612 Other Investments — 36,498 — 36,498 Loans Held for Sale — 7,052 — 7,052 Other Assets(a) — 6,089 930 7,019 Total Assets $ — $ 793,289 $ 35,892 $ 829,181 Other Liabilities(a) $ — $ 5,972 $ — $ 5,972 Total Liabilities $ — $ 5,972 $ — $ 5,972 (a) Hedging and non-hedging interest rate derivatives |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | For the six months ended June 30 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2017 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 33,292 $ 1,670 $ 930 $ 35,892 Total gains or losses Included in earnings — — — — Included in other comprehensive income 410 — — 410 Purchases, issuances, sales and settlements Purchases — — 547 547 Issuances — — — — Sales — — — — Settlements (54 ) — — (54 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance, end of period $ 33,648 $ 1,670 $ 1,477 $ 36,795 2016 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 35,658 $ 2,170 $ — $ 37,828 Total gains or losses Included in earnings — — — — Included in other comprehensive income (1,905 ) — — (1,905 ) Purchases, issuances, sales and settlements Purchases — 36 168 204 Issuances — — — — Sales — — — — Settlements (30 ) — — (30 ) Transfers from Level 3 — (536 ) (536 ) Transfers into Level 3 — — 536 536 Balance, end of period $ 33,723 $ 1,670 $ 704 $ 36,097 During the six months ended June 30, 2017 , there were no transfers between fair value Levels 1 , 2 or 3. During the six months ended June 30, 2016 , $0.5 million in investments in limited partnerships were moved from other equity securities to other assets constituting the transfers into and out of Level 3. There were no gains or losses included in earnings for the periods presented that are attributable to the change in realized gains (losses) relating to assets held at June 30, 2017 and 2016 . For the three months ended June 30 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2017 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 33,741 $ 1,670 $ 1,340 $ 36,751 Total gains or losses Included in earnings — — — — Included in other comprehensive income (87 ) — — (87 ) Purchases, issuances, sales and settlements Purchases — — 137 137 Issuances — — — — Sales — — — — Settlements (6 ) — — (6 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance, end of period $ 33,648 $ 1,670 $ 1,477 $ 36,795 2016 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 33,273 $ 2,206 $ — 35,479 Total gains or losses Included in earnings — — — — Included in other comprehensive income 480 — — 480 Purchases, issuances, sales and settlements Purchases — — 168 168 Issuances — — — — Sales — — — — Settlements (30 ) — — (30 ) Transfers from Level 3 — (536 ) — (536 ) Transfers into Level 3 — — 536 536 Balance, end of period $ 33,723 $ 1,670 $ 704 $ 36,097 During the three months ended June 30, 2017 , there were no transfers between fair value Levels 1 , 2 or 3. During the three months ended June 30, 2016 , $0.5 million in investments in limited partnerships were moved from other equity securities to other assets constituting the transfers into and out of Level 3. There were no gains or losses included in earnings for the periods presented that are attributable to the change in realized gains (losses) relating to assets held at June 30, 2017 and 2016 . |
Schedule of Assets Measured on Non-Recurring Basis | The tables below present the balances of assets measured at fair value on a nonrecurring basis at: June 30, 2017 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 21,089 $ 16,961 $ 38,050 Other real estate owned — 6,281 — 6,281 Total Assets $ — $ 27,370 $ 16,961 $ 44,331 December 31, 2016 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 18,679 $ 19,990 $ 38,669 Other real estate owned — 7,566 — 7,566 Total Assets $ — $ 26,245 $ 19,990 $ 46,235 |
Losses Realized on Assets Measured on Non-Recurring Basis | The following gain (losses) were realized on the assets measured on a nonrecurring basis: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 (dollars in thousands) Impaired loans $ (238 ) $ (6,991 ) $ (1,278 ) $ (14,576 ) Other real estate owned (1,094 ) (245 ) (1,125 ) (258 ) Total losses $ (1,332 ) $ (7,236 ) $ (2,403 ) $ (14,834 ) |
Carrying Amounts and Fair Values of Financial Instruments | The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments: June 30, 2017 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 103,602 $ 103,602 $ 103,602 $ — $ — Interest-bearing deposits 12,310 12,310 12,310 — — Securities available for sale 786,246 786,246 — 750,928 35,318 Securities held to maturity 450,886 449,127 — 449,127 — Other investments 34,340 34,340 — 34,340 — Loans held for sale 9,785 9,785 — 9,785 — Loans 5,374,782 5,367,138 — 21,089 5,346,049 Financial liabilities Deposits 5,533,135 5,535,206 — 5,535,206 — Short-term borrowings 846,137 846,026 — 846,026 — Subordinated debt 72,167 65,917 — — 65,917 Long-term debt 8,458 8,953 — 8,953 — Capital lease obligation 7,764 7,764 — 7,764 — December 31, 2016 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 91,033 $ 91,033 $ 91,033 $ — $ — Interest-bearing deposits 24,644 24,644 24,644 — — Securities available for sale 778,612 778,612 — 743,650 34,962 Securities held to maturity 372,513 368,618 — 368,618 — Other investments 36,498 36,498 — 36,498 — Loans held for sale 7,052 7,052 — 7,052 — Loans 4,879,347 4,878,254 — 18,679 4,859,575 Financial liabilities Deposits 4,947,408 4,949,714 — 4,949,714 — Short-term borrowings 867,943 867,667 — 867,667 — Subordinated debt 72,167 65,656 — — 65,656 Long-term debt 8,749 9,169 — 9,169 — |
Derivatives (Tables)
Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Credit Value Adjustment Recorded Related to Notional Amount Of Derivatives Outstanding | The following table depicts the credit value adjustment recorded related to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks: June 30, 2017 December 31, 2016 (dollars in thousands) Derivatives not Designated as Hedging Instruments Credit value adjustment $ (353 ) $ (317 ) Notional amount: Interest rate derivatives 337,020 345,102 Interest rate caps 26,500 14,762 Risk participation agreements 172,634 174,213 Sold credit protection on risk participation agreements (39,754 ) (40,281 ) Derivatives Designated as Hedging Instruments Interest rate swaps: Fair value adjustment (139 ) (443 ) Notional amount 200,000 200,000 Interest rate forwards: Fair value adjustment 95 — Notional amount 29,000 — Foreign exchange forwards: Fair value adjustment (76 ) (8 ) Notional amount 8,239 4,749 |
Schedule of Changes in Fair Value of Derivative Assets and Liabilities | The table below presents the amount representing the change in the fair value of derivative assets and derivative liabilities attributable to credit risk included in "Other income" on the Condensed Consolidated Statements of Income: For the Three Months Ended June 30, For the Six Months Ended June 30, 2017 2016 2017 2016 (dollars in thousands) Non-hedging interest rate derivatives Decrease in other income $ (37 ) $ (531 ) $ (35 ) $ (1,545 ) Hedging interest rate derivatives Increase in interest and fees on loans 136 424 385 854 (Decrease) increase in other expense (5 ) 26 73 41 Hedging interest rate forwards (Decrease) increase in other expense (17 ) — 95 — Hedging foreign exchange forwards (Decrease) increase in other expense (1 ) 4 1 7 |
Acquisition (Details)
Acquisition (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017USD ($)shares | Apr. 03, 2017USD ($)branch | |
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | $ 88,986 | |
Branch Acquisition, Number of Branches | branch | 9 | |
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 10,300 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Federal Home Loan Bank Stock | $ 3,250 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 383,083 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 12,143 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 5,998 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Other Real Estate Owned | 68 | |
Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed, Bank Owned Life Insurance | 20,522 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets | 16,436 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 554,906 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 484,366 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Capital Lease Obligation | 7,851 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 1,182 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 493,399 | |
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 61,507 | |
Cash paid to shareholders | $ 21,232 | |
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable Fair Value Method | 110,812 | |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 8,356,882 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 24,420 | |
Shares issued to shareholders (8,356,882 shares) | $ 132,044 | |
Business Combination, Goodwill Recognized, Description | 70,537 | |
Business Combination, Acquired Receivables, Gross Contractual Amount | 390,760 | |
Business Combination, Acquired Receivables, Fair Value Adjustment | $ (7,700) |
Supplemental Comprehensive In35
Supplemental Comprehensive Income Disclosures (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Supplemental Comprehensive Income Disclosures [Abstract] | ||||
Unrealized holding gains on securities arising during the period | $ 1,702 | $ 3,802 | $ 4,245 | $ 13,872 |
Reclassification adjustment for gains on securities included in net income | 49 | (28) | (603) | (28) |
Total unrealized gains on securities | 1,751 | 3,774 | 3,642 | 13,844 |
Unrealized holding (losses) gains on derivatives arising during the period | (66) | 359 | (582) | 2,094 |
Unrealized holding gains on securities arising during the period | (596) | (1,331) | (1,486) | (4,855) |
Reclassification adjustment for gains on derivatives included in net income, before Tax | (5) | (26) | 73 | (41) |
Total unrealized gain on derivatives | (71) | 333 | (509) | 2,053 |
Reclassification adjustment for gains on securities included in net income | (17) | 10 | 211 | 10 |
Total other comprehensive (loss) income | 1,680 | 4,107 | 3,133 | 15,897 |
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax | (613) | (1,321) | (1,275) | (4,845) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 23 | (126) | 204 | (733) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | 2 | 9 | (26) | 14 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Total | 25 | (117) | 178 | (719) |
Other Comprehensive Income (Loss), Tax | (588) | (1,438) | (1,097) | (5,564) |
Other comprehensive income (loss) before reclassification adjustment | 1,106 | 2,471 | 2,759 | 9,017 |
Total unrealized (losses) gains on securities | 1,138 | 2,453 | 2,367 | 8,999 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (43) | 233 | (378) | 1,361 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 3 | 17 | (47) | 27 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Total | (46) | 216 | (331) | 1,334 |
Total other comprehensive (loss) income | 1,092 | 2,669 | 2,036 | 10,333 |
Reclassification adjustment for gains on securities included in net income | $ (32) | $ 18 | $ 392 | $ 18 |
Supplemental Comprehensive In36
Supplemental Comprehensive Income Disclosures (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | $ (7,027) | $ (2,386) | ||
Other comprehensive income (loss) before reclassification adjustment | $ 1,106 | $ 2,471 | 2,759 | 9,017 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (43) | 233 | (378) | 1,361 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 2,381 | 10,378 | ||
Amounts reclassified from accumulated other comprehensive income (loss) | (345) | (45) | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 3 | 17 | (47) | 27 |
Total other comprehensive (loss) income | 1,092 | 2,669 | 2,036 | 10,333 |
Accumulated Other Comprehensive Income (Loss), Ending Balance | (4,991) | 7,947 | (4,991) | 7,947 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (7,455) | (2,956) | ||
Other comprehensive income (loss) before reclassification adjustment | 2,759 | 9,017 | ||
Amounts reclassified from accumulated other comprehensive income (loss) | (392) | (18) | ||
Total other comprehensive (loss) income | 2,367 | 8,999 | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | (5,088) | 6,043 | (5,088) | 6,043 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 225 | 10 | ||
Other comprehensive income (loss) before reclassification adjustment | 0 | 0 | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | ||
Total other comprehensive (loss) income | 0 | 0 | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | 225 | 10 | 225 | 10 |
Derivative [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 203 | 560 | ||
Total other comprehensive (loss) income | (331) | 1,334 | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | $ (128) | $ 1,894 | (128) | 1,894 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Total other comprehensive (loss) income | $ 2,036 | $ 10,333 |
Supplemental Cash Flow Disclo37
Supplemental Cash Flow Disclosures - Non-cash Investing and Financing Activities (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Supplemental Cash Flow Information [Abstract] | ||
Unsettled Bank Owned Life Insurance Proceeds | $ 0 | $ 523 |
Cash paid during the period for: | ||
Interest | 8,917 | 9,583 |
Income Taxes Paid, Net | 11,394 | 10,500 |
Non-cash investing and financing activities: | ||
Loans Transferred to Other Real Estate Owned and Repossessions | 1,519 | 2,632 |
Fair value of loans transferred from held to maturity to held for sale | 9,053 | 3,573 |
Gross increase in market value adjustment to securities available for sale | 3,642 | 13,845 |
Gross (decrease) increase in market value adjustment to securities derivatives | (508) | 2,053 |
Investments committed to purchase not settled | 0 | 1,946 |
Stock Issued During Period, Value, Treasury Stock Reissued | 2,258 | 0 |
Noncash or Part Noncash Acquisition, Value of Assets Acquired | $ 37,087 | $ 0 |
Earnings per Share - Compositio
Earnings per Share - Composition of Weighted-Average Common Shares (Denominator) Used in Basic and Diluted Earnings Per Share (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share [Abstract] | ||||
Weighted Average Number of Shares Issued, Basic | 113,731,354 | 105,563,455 | 109,669,968 | 105,563,455 |
Average treasury shares (in shares) | (16,435,520) | (16,620,341) | (16,481,109) | (16,621,717) |
Average unearned nonvested shares | (112,235) | (111,356) | (109,313) | (105,815) |
Weighted average common shares and common stock equivalents used to calculate basic earnings per share (in shares) | 97,183,599 | 88,831,758 | 93,079,546 | 88,835,923 |
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share | 48,689 | 6,856 | 46,393 | 4,760 |
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share (in shares) | 97,232,288 | 88,838,614 | 93,125,939 | 88,840,683 |
Earnings per Share - Common Sto
Earnings per Share - Common Stock Equivalents Not Included in Computation of Diluted Earnings Per Share (Detail) - $ / shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 26,022 | 81,887 |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 24,375 | 0 |
Minimum [Member] | Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | $ 9.26 | $ 7.57 |
Minimum [Member] | Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | 15.09 | 0 |
Maximum [Member] | Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | 13.96 | 9.84 |
Maximum [Member] | Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | $ 15.09 | $ 0 |
Commitments and Contingent Li40
Commitments and Contingent Liabilities - Notional Amount of Outstanding Commitments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Commitments to extend credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | $ 1,787,811 | $ 1,733,820 |
Financial standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | 15,540 | 18,108 |
Performance standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | 25,760 | 26,630 |
Commercial letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | $ 871 | $ 1,301 |
Commitments and Contingent Li41
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Loss Contingencies [Line Items] | ||
Notional Amount Of Performance Standby Letters Of Credit | $ 700,000 | |
Notional Amount Of Commercial Letters Of Credit | 0 | |
Notional Amount Of Financial Standby Letters Of Credit | 400,000 | |
Financial instrument of credit risk | 200,000 | $ 200,000 |
Unfunded commitment liability | 4,600,000 | $ 4,100,000 |
Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | 0 | |
Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | $ 7,000,000 |
Investment Securities - Analysi
Investment Securities - Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Investment Securities [Line Items] | |||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $ 996 | ||
Amortized Cost | 794,075 | $ 790,082 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 7,434 | 7,076 | |
Gross Unrealized Losses | (15,263) | (18,546) | |
Securities available for sale, at fair value | 786,246 | 778,612 | |
Due within one year, Estimated Fair Value | 997 | ||
Due after one but within five years, Amortized Cost | 14,087 | ||
Due after one but within five years, Estimated Fair Value | 14,176 | ||
Due after five but within ten years, Amortized Cost | 27,079 | ||
Due after five but within ten years, Estimated Fair Value | 27,555 | ||
Due after ten years, Amortized Cost | 42,290 | ||
Due after ten years, Estimated Fair Value | 35,975 | ||
Due within one year, Amortized Cost | 84,452 | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date | 78,703 | ||
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | [1] | 707,953 | |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | [1] | 705,873 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 13,800 | ||
Securities available for sale, at fair value | 15,184 | 16,617 | |
Residential Mortgage Backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 690,689 | 676,853 | |
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 0 | 1 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 1,096 | 16,631 | |
Obligations of States and Political Subdivisions [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 27,555 | 27,229 | |
Corporate Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 16,404 | 6,319 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 33,648 | 33,292 | |
Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 792,405 | ||
Securities available for sale, at fair value | 784,576 | ||
Equity Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 1,670 | 1,670 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Securities available for sale, at fair value | 1,670 | 1,670 | |
Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 792,405 | 788,412 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 7,434 | 7,076 | |
Gross Unrealized Losses | (15,263) | (18,546) | |
Securities available for sale, at fair value | 784,576 | 776,942 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 40,378 | 39,989 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 463 | 427 | |
Gross Unrealized Losses | (7,193) | (7,124) | |
Securities available for sale, at fair value | 33,648 | 33,292 | |
Corporate Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 15,899 | 5,903 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 505 | 416 | |
Gross Unrealized Losses | 0 | 0 | |
Securities available for sale, at fair value | 16,404 | 6,319 | |
Obligations of States and Political Subdivisions [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 27,079 | 27,075 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 476 | 195 | |
Gross Unrealized Losses | 0 | (41) | |
Securities available for sale, at fair value | 27,555 | 27,229 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 1,096 | 16,700 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Gross Unrealized Losses | 0 | (69) | |
Securities available for sale, at fair value | 1,096 | 16,631 | |
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 0 | 1 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Securities available for sale, at fair value | 0 | 1 | |
Residential Mortgage Backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 694,114 | 683,601 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 4,638 | 4,557 | |
Gross Unrealized Losses | (8,063) | (11,305) | |
Securities available for sale, at fair value | 690,689 | 676,853 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 13,839 | 15,143 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 1,352 | 1,481 | |
Gross Unrealized Losses | (7) | (7) | |
Securities available for sale, at fair value | $ 15,184 | $ 16,617 | |
[1] | Mortgage-Backed Securities include an amortized cost of $13.8 million and a fair value of $15.2 million for Obligations of U.S. |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | |
Net Investment Income [Line Items] | |||
Available-for-sale Securities, Debt Maturities, Single Maturity Date | $ 78,703 | ||
Due after five but within ten years, Amortized Cost | 27,079 | ||
Due after one but within five years, Amortized Cost | 14,087 | ||
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | [1] | 707,953 | |
Due within one year, Amortized Cost | 84,452 | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 996 | ||
Due after ten years, Amortized Cost | 42,290 | ||
Corporate/Mortgage-Backed Securities, Amortized cost | [1] | 705,873 | |
Amortized Cost | 794,075 | $ 790,082 | |
Due within one year, Estimated Fair Value | 997 | ||
Due after one but within five years, Estimated Fair Value | 14,176 | ||
Due after five but within ten years, Estimated Fair Value | 27,555 | ||
Due after ten years, Estimated Fair Value | 35,975 | ||
Total Debt Securities, Estimated Fair Value | 786,246 | 778,612 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 7,434 | 7,076 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 15,263 | 18,546 | |
US Government Agencies Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 13,839 | 15,143 | |
Total Debt Securities, Estimated Fair Value | 15,184 | 16,617 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 1,352 | 1,481 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 7 | 7 | |
Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 792,405 | 788,412 | |
Total Debt Securities, Estimated Fair Value | 784,576 | 776,942 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 7,434 | 7,076 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 15,263 | 18,546 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 694,100 | ||
Total Debt Securities, Estimated Fair Value | 690,700 | ||
Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 792,405 | ||
Total Debt Securities, Estimated Fair Value | 784,576 | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 33,648 | 33,292 | |
Corporate Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 16,404 | 6,319 | |
Obligations of States and Political Subdivisions [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 27,555 | 27,229 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 1,096 | 16,631 | |
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 0 | 1 | |
Residential Mortgage Backed Securities [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 690,689 | 676,853 | |
US Government Agencies Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 13,800 | ||
Total Debt Securities, Estimated Fair Value | $ 15,184 | $ 16,617 | |
[1] | Mortgage-Backed Securities include an amortized cost of $13.8 million and a fair value of $15.2 million for Obligations of U.S. |
Investment Securities - Amort44
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale (Detail) (1) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Investment Securities [Line Items] | ||
Amortized Cost | $ 794,075 | $ 790,082 |
Securities available for sale, at fair value | 786,246 | 778,612 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 7,434 | 7,076 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 15,263 | 18,546 |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 1,096 | 16,700 |
Securities available for sale, at fair value | 1,096 | 16,631 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 0 | 69 |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 13,800 | |
Securities available for sale, at fair value | 15,184 | $ 16,617 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 694,100 | |
Securities available for sale, at fair value | 690,700 | |
Debt Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 792,405 | |
Securities available for sale, at fair value | $ 784,576 |
Investment Securities - Proceed
Investment Securities - Proceeds from Sale, Gross Gains (Losses) Realized on Sales, Maturities and Other-Than-Temporary Impairment Charges Related to Securities Available for Sale (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | ||
Proceeds from Sale of Available-for-sale Securities | $ 103,618 | $ 55,744 |
Sales Transactions: | ||
Gross gains | 0 | 304 |
Gross losses | (49) | (276) |
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments | (49) | 28 |
Maturities and impairment | ||
Gross Gains | 712 | 0 |
Gross Losses | (60) | 0 |
Gain Losses Maturities And Impairment | 652 | 0 |
Net gains and impairment | $ 603 | $ 28 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |||
Held-to-maturity Securities Pledged as Collateral | $ 296,300 | $ 119,200 | |
Proceeds from Sale of Available-for-sale Securities | 103,618 | $ 55,744 | |
Available-for-sale securities pledged as collateral | $ 517,200 | $ 445,800 |
Investment Securities Schedule
Investment Securities Schedule of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due within 1 year | $ 0 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 0 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 646 | $ 60 |
Held-to-maturity Securities | 450,886 | 372,513 |
Securities held to maturity, fair value | 449,127 | $ 368,618 |
Due after 1 but within 5 years | 3,118 | |
Due after 5 but within 10 years | 32,061 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 32,354 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 3,142 | |
Due after 10 years | 5,624 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 5,600 | |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis | 40,803 | |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value | 41,096 | |
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Net Carrying Amount | 410,083 | |
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Fair Value | 408,031 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 62,900 | |
Securities held to maturity, fair value | 62,200 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 347,200 | |
Securities held to maturity, fair value | $ 345,800 |
Investment Securities Held to M
Investment Securities Held to Maturity Securities by Type (Details) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | $ 450,886 | $ 372,513 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 646 | 60 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (2,405) | (3,955) |
Securities held to maturity, fair value | 449,127 | 368,618 |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 4,142 | 4,297 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (13) | (4) |
Securities held to maturity, fair value | 4,129 | 4,293 |
US Government Agency Debt Securities Commercial [Domain] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 58,780 | 34,444 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (727) | (561) |
Securities held to maturity, fair value | 58,053 | 33,883 |
Residential Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 332,768 | 280,430 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 193 | 5 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (1,527) | (2,527) |
Securities held to maturity, fair value | 331,434 | 277,908 |
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 14,393 | 14,675 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 22 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | (142) |
Securities held to maturity, fair value | 14,415 | 14,533 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 40,603 | 38,667 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 431 | 55 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (138) | (721) |
Securities held to maturity, fair value | 40,896 | 38,001 |
Foreign Government Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 200 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | 0 | 0 |
Securities held to maturity, fair value | $ 200 | $ 0 |
Other Investments - Additional
Other Investments - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Other Investments Disclosure [Abstract] | ||
Other investments | $ 34,340 | $ 36,498 |
Impairment of Investment Secu50
Impairment of Investment Securities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($)SecurityBank | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)SecurityBank | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Other than temporary impairment charges recognized | $ 0 | $ 0 | |||
Amortized Cost | $ 794,075,000 | 794,075,000 | $ 790,082,000 | ||
Securities available for sale, at fair value | 786,246,000 | 786,246,000 | 778,612,000 | ||
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 17,668,000 | $ 17,668,000 | 22,501,000 | ||
Number of banks and other financial institutions comprising the security | Bank | 256 | 256 | |||
Number Of Pooled Securities with No Senior Class | Security | 2 | ||||
Number of securities with no excess subordination | Security | 2 | 2 | |||
Number of Securities with Excess Subordination | Security | 6 | 6 | |||
Coupon rate | 7.00% | ||||
Probability of default | 100.00% | ||||
Projected recovery rate | 0.00% | ||||
Probability percentage assigned to default bank subject to market indicators | 10.00% | ||||
Probability percentage assigned to default bank | 100.00% | ||||
Federal Home Loan Bank Stock | $ 34,340,000 | $ 34,340,000 | 36,498,000 | ||
Investment Securities in Unrealized Loss Position, Qualitative Disclosure, Number of Positions, Total | 87 | 87 | |||
Minimum [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Subordinated tranches range | 7.00% | 7.00% | |||
Total principal amount of the respective securities | 5.00% | 5.00% | |||
Excess subordination as a percentage of current performing collateral | 2.00% | ||||
Probabilities for performing collateral range | 0.33% | ||||
Excess present value of future cash flows over our current book value | 18.00% | ||||
Maximum [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Subordinated tranches range | 35.00% | 35.00% | |||
Excess subordination as a percentage of current performing collateral | 84.00% | ||||
Probabilities for performing collateral range | 75.00% | ||||
Excess present value of future cash flows over our current book value | 111.00% | ||||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Percent of Unrealized Losses | 41.00% | 41.00% | |||
Securities available for sale, at fair value | $ 33,648,000 | $ 33,648,000 | 33,292,000 | ||
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 7,193,000 | 7,193,000 | 7,124,000 | ||
Trust preferred collateralized debt obligations [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Other than temporary impairment charges recognized | $ 0 | $ 0 | |||
Percentage of Current Performing Collateral | 0.00% | 0.00% | |||
Corporate Debt Securities [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Securities available for sale, at fair value | $ 16,404,000 | $ 16,404,000 | 6,319,000 | ||
Pooled Trust Preferred Securities [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Other than temporary impairment charges recognized | 0 | $ 0 | |||
Equity Securities [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Other than temporary impairment charges recognized | 0 | $ 0 | |||
Continuous Unrealized Loss Position, Fair Value | 0 | 0 | 0 | ||
Asset Size and Coupon Rate 1 [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Collateral issued by financial institutions | 15,000,000,000 | $ 15,000,000,000 | |||
Coupon rate | 7.00% | ||||
Prepayment rate | 100.00% | ||||
Asset Size and Coupon Rate 2 [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Coupon rate | 7.00% | ||||
Fair Value Inputs , Prepayment Rate Year One and Two | 40.00% | ||||
Fair Value Inputs , Prepayment Rate After Year Two | 2.00% | ||||
Asset Size and Coupon Rate 3 [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Prepayment rate | 5.00% | ||||
Asset Size and Coupon Rate 3 [Member] | Minimum [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Collateral issued by financial institutions | 2,000,000,000 | $ 2,000,000,000 | |||
Asset Size and Coupon Rate 3 [Member] | Maximum [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Collateral issued by financial institutions | 15,000,000,000 | 15,000,000,000 | |||
Asset Size and Coupon Rate 4 [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Collateral issued by financial institutions | $ 2,000,000,000 | $ 2,000,000,000 | |||
Coupon rate | 10.00% | ||||
Prepayment rate | 5.00% | ||||
Asset Size and Coupon Rate 5 [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Prepayment rate | 0.00% | ||||
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Percent of Unrealized Losses | 54.00% | 54.00% | |||
Reported Value Measurement [Member] | |||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||||
Securities available for sale, at fair value | $ 786,246,000 | $ 786,246,000 | $ 778,612,000 | ||
Federal Home Loan Bank Stock | $ 34,340,000 | $ 34,340,000 |
Impairment of Investment Secu51
Impairment of Investment Securities - Schedule of Unrealized Losses and Estimated Fair Values (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 706,468 | $ 773,932 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (8,671) | (13,175) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 92,573 | 85,152 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (8,997) | (9,326) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 799,041 | 859,084 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (17,668) | (22,501) |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 5,825 | 4,898 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (20) | (11) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 5,825 | 4,898 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (20) | (11) |
US Government Agency Debt Securities Commercial [Domain] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 58,053 | 33,883 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (727) | (561) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 58,053 | 33,883 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (727) | (561) |
Residential Mortgage Backed Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 634,704 | 670,708 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7,786) | (11,630) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 63,386 | 56,200 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,804) | (2,202) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 698,090 | 726,908 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (9,590) | (13,832) |
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 14,534 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 142 | |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 14,534 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | 142 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 100 | 16,632 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | (69) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 100 | 16,632 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | 0 | (69) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 7,786 | 33,277 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (138) | (762) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 7,786 | 33,277 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (138) | (762) |
Corporate Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 0 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Percent of Unrealized Losses | 41.00% | |
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 29,187 | 28,952 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (7,193) | (7,124) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 29,187 | 28,952 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (7,193) | $ (7,124) |
Impairment of Investment Secu52
Impairment of Investment Securities - Pooled Trust Preferred Collateralized Debt Obligations (Detail) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017USD ($)Bank | Dec. 31, 2016USD ($) | |
Impairment Of Investment Securities [Line Items] | ||
Securities available for sale, at fair value | $ 786,246 | $ 778,612 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 7,434 | 7,076 |
Unrealized Gain (Loss) | 15,263 | $ 18,546 |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | 40,378 | |
Securities available for sale, at fair value | 33,648 | |
Unrealized Gain (Loss) | 6,730 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL IV [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | 1,823 | |
Securities available for sale, at fair value | 1,361 | |
Unrealized Gain (Loss) | $ 462 | |
Debt Instrument, Credit Rating | Ba1/BB | |
Number of Banks (in banks) | Bank | 6 | |
Deferrals and Defaults as a % of Current Collateral | 18.05% | |
Excess Subordination as a % of Current Performing Collateral | 60.51% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL VIII [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 1,983 | |
Securities available for sale, at fair value | 2,139 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | $ 156 | |
Debt Instrument, Credit Rating | C/C | |
Number of Banks (in banks) | Bank | 27 | |
Deferrals and Defaults as a % of Current Collateral | 40.34% | |
Excess Subordination as a % of Current Performing Collateral | 0.00% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL IX [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 2,430 | |
Securities available for sale, at fair value | 1,965 | |
Unrealized Gain (Loss) | $ 465 | |
Debt Instrument, Credit Rating | B1/C | |
Number of Banks (in banks) | Bank | 37 | |
Deferrals and Defaults as a % of Current Collateral | 27.83% | |
Excess Subordination as a % of Current Performing Collateral | 11.71% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL X [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 1,801 | |
Securities available for sale, at fair value | 2,016 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | $ 215 | |
Debt Instrument, Credit Rating | Caa1/C | |
Number of Banks (in banks) | Bank | 42 | |
Deferrals and Defaults as a % of Current Collateral | 30.10% | |
Excess Subordination as a % of Current Performing Collateral | 1.97% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL XII [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 5,991 | |
Securities available for sale, at fair value | 4,913 | |
Unrealized Gain (Loss) | $ 1,078 | |
Debt Instrument, Credit Rating | B3/C | |
Number of Banks (in banks) | Bank | 64 | |
Deferrals and Defaults as a % of Current Collateral | 24.13% | |
Excess Subordination as a % of Current Performing Collateral | 0.00% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL XIII [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 13,070 | |
Securities available for sale, at fair value | 10,965 | |
Unrealized Gain (Loss) | $ 2,105 | |
Debt Instrument, Credit Rating | Ba1/CCC | |
Number of Banks (in banks) | Bank | 52 | |
Deferrals and Defaults as a % of Current Collateral | 8.02% | |
Excess Subordination as a % of Current Performing Collateral | 45.06% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL XIV [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 13,066 | |
Securities available for sale, at fair value | 9,983 | |
Unrealized Gain (Loss) | $ 3,083 | |
Debt Instrument, Credit Rating | Ba2/CCC | |
Number of Banks (in banks) | Bank | 52 | |
Deferrals and Defaults as a % of Current Collateral | 12.87% | |
Excess Subordination as a % of Current Performing Collateral | 40.25% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | MMCap I [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 214 | |
Securities available for sale, at fair value | 306 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | $ 92 | |
Debt Instrument, Credit Rating | Ca/C | |
Number of Banks (in banks) | Bank | 8 | |
Deferrals and Defaults as a % of Current Collateral | 58.11% | |
Excess Subordination as a % of Current Performing Collateral | 83.52% |
Impairment of Investment Secu53
Impairment of Investment Securities - Cumulative Roll Forward of Credit Losses Recognized in Earnings for Debt Securities Held and Not Intended to be Sold (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |||
Impairment of Investment Securities Disclosure [Abstract] | ||||||
Balance, beginning (a) | $ 16,828 | $ 24,590 | $ 17,056 | [1] | $ 24,851 | [1] |
Credit losses on debt securities for which other-than-temporary impairment was not previously recognized | 0 | 0 | 0 | 0 | ||
Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized | 0 | 0 | 0 | 0 | ||
Balance, ending | 16,610 | 24,310 | 16,610 | 24,310 | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Cash Flows | 0 | 0 | 0 | 0 | ||
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease) | $ 218 | $ 280 | $ 446 | $ 541 | ||
[1] | The beginning balance represents credit related losses included in other-than-temporary impairment charges recognized on debt securities in prior periods. |
Loans and Allowance for Credi54
Loans and Allowance for Credit Losses - Outstanding Balances of Loan (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 5,374,782 | $ 4,879,347 | $ 4,843,776 |
Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,139,547 | ||
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 219,621 | ||
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,229,192 | ||
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,742,210 | ||
Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 548,777 | ||
Originated Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 4,919,203 | 4,778,471 | |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,157,542 | 1,131,148 | |
Originated Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 237,035 | 217,840 | |
Originated Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,169,217 | 1,165,851 | |
Originated Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,819,590 | 1,717,043 | |
Originated Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 535,819 | 546,589 | |
Acquired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 455,579 | 100,876 | |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 42,258 | 8,399 | |
Acquired Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 12,220 | 1,781 | |
Acquired Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 247,709 | 63,341 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 143,411 | 25,167 | |
Acquired Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 9,981 | $ 2,188 |
Loans and Allowance for Credi55
Loans and Allowance for Credit Losses - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Non Accrual Status Of Loans After Number Of Days Past Due | 90 days | ||||
Default Status Of TDRs After Number Of Days Past Due | 90 days | ||||
Unfunded commitments related to nonperforming loans | $ 1,500,000 | $ 1,500,000 | $ 1,800,000 | ||
Off balance sheet reserve to nonperforming loans | 100,000 | 100,000 | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | $ 0 | 0 | $ 0 | |
Total gains or losses included in earnings | 0 | $ 0 | 0 | ||
Loans to individuals [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Non Accrual Status Of Loans After Number Of Days Past Due | 150 days | ||||
Impaired Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans with modifications to rate and payment due to reamortization | 100,000 | $ 300,000 | $ 200,000 | 4,200,000 | |
Nonaccrual Commercial Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans Held for sale, Amount | $ 0 | ||||
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 0 | $ 0 | |||
Non Accrual Loans [Member] | Steel and Aluminum Servicing Company [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual | 5,000,000 | 5,000,000 | |||
Paydown On Loan Receivable | 2,400,000 | ||||
Non Accrual Loans [Member] | Industrial Manufacturer [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual | 2,100,000 | 2,100,000 | |||
Non Accrual Loans [Member] | Local Energy Company [Member] [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual | 2,800,000 | 2,800,000 | |||
2012 Troubled Debt Restructuring [Member] | Non Accrual Loans [Member] | Local Energy Company [Member] [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual | 600,000 | 600,000 | |||
2014 Troubled Debt Restructuring [Member] | Non Accrual Loans [Member] | Local Energy Company [Member] [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccrual | $ 2,200,000 | 2,200,000 | |||
Charge-off recognized | $ 400,000 |
Loans and Allowance for Credi56
Loans and Allowance for Credit Losses - Credit Risk Profile by Creditworthiness (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 4,919,203 | $ 4,778,471 |
Originated Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 4,772,224 | 4,646,456 |
Originated Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 84,819 | 41,181 |
Originated Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 57,186 | 90,834 |
Originated Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 4,974 | 0 |
Originated Loans [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 146,979 | 132,015 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,157,542 | 1,131,148 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,076,627 | 1,038,844 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 47,113 | 27,387 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 28,828 | 64,917 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 4,974 | 0 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 80,915 | 92,304 |
Originated Loans [Member] | Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 237,035 | 217,840 |
Originated Loans [Member] | Real estate construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 237,035 | 217,565 |
Originated Loans [Member] | Real estate construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 275 |
Originated Loans [Member] | Real estate construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Real estate construction [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Real estate construction [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 275 |
Originated Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,169,217 | 1,165,851 |
Originated Loans [Member] | Residential real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,155,603 | 1,152,511 |
Originated Loans [Member] | Residential real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 3,076 | 5,923 |
Originated Loans [Member] | Residential real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 10,538 | 7,417 |
Originated Loans [Member] | Residential real estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Residential real estate [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 13,614 | 13,340 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,819,590 | 1,717,043 |
Originated Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,767,348 | 1,691,220 |
Originated Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 34,630 | 7,596 |
Originated Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 17,612 | 18,227 |
Originated Loans [Member] | Commercial Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Commercial Real Estate [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 52,242 | 25,823 |
Originated Loans [Member] | Loans to individuals [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 535,819 | 546,589 |
Originated Loans [Member] | Loans to individuals [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 535,611 | 546,316 |
Originated Loans [Member] | Loans to individuals [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Loans to individuals [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 208 | 273 |
Originated Loans [Member] | Loans to individuals [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Originated Loans [Member] | Loans to individuals [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 208 | 273 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 455,579 | 100,876 |
Acquired Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 442,338 | 98,519 |
Acquired Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 5,653 | 486 |
Acquired Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 7,588 | 1,871 |
Acquired Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 13,241 | 2,357 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 42,258 | 8,399 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 40,132 | 7,591 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,193 | 486 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 933 | 322 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,126 | 808 |
Acquired Loans [Member] | Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 12,220 | 1,781 |
Acquired Loans [Member] | Real estate construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 12,220 | 1,781 |
Acquired Loans [Member] | Real estate construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Real estate construction [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Real estate construction [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Real estate construction [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 247,709 | 63,341 |
Acquired Loans [Member] | Residential real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 245,180 | 62,919 |
Acquired Loans [Member] | Residential real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 942 | 0 |
Acquired Loans [Member] | Residential real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,587 | 422 |
Acquired Loans [Member] | Residential real estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Residential real estate [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 2,529 | 422 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 143,411 | 25,167 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 134,825 | 24,043 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 3,518 | 0 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 5,068 | 1,124 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 8,586 | 1,124 |
Acquired Loans [Member] | Loans to individuals [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 9,981 | 2,188 |
Acquired Loans [Member] | Loans to individuals [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 9,981 | 2,185 |
Acquired Loans [Member] | Loans to individuals [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Loans to individuals [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 3 |
Acquired Loans [Member] | Loans to individuals [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Acquired Loans [Member] | Loans to individuals [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 0 | $ 3 |
Loans and Allowance for Credi57
Loans and Allowance for Credit Losses - Age Analysis of Past Due Loans by Segment (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | $ 5,374,782 | $ 4,879,347 | $ 4,843,776 |
Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,199,800 | 1,185,062 | |
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 249,255 | 242,132 | |
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,416,926 | 1,199,005 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,963,001 | 1,648,222 | |
Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 545,800 | $ 569,355 | |
Acquired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 4,898 | 1,302 | |
Financing Receivable, Recorded Investment, Current | 450,681 | 99,574 | |
Total | 455,579 | 100,876 | |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 563 | 486 | |
Financing Receivable, Recorded Investment, Current | 41,695 | 7,913 | |
Total | 42,258 | 8,399 | |
Acquired Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 0 | 0 | |
Financing Receivable, Recorded Investment, Current | 12,220 | 1,781 | |
Total | 12,220 | 1,781 | |
Acquired Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 933 | 643 | |
Financing Receivable, Recorded Investment, Current | 246,776 | 62,698 | |
Total | 247,709 | 63,341 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 3,298 | 162 | |
Financing Receivable, Recorded Investment, Current | 140,113 | 25,005 | |
Total | 143,411 | 25,167 | |
Acquired Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 104 | 11 | |
Financing Receivable, Recorded Investment, Current | 9,877 | 2,177 | |
Total | 9,981 | 2,188 | |
Acquired Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 133 | 635 | |
Acquired Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 486 | |
Acquired Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 68 | 148 | |
Acquired Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 65 | 1 | |
Acquired Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 160 | 46 | |
Acquired Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 133 | 39 | |
Acquired Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 27 | 7 | |
Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 118 | 34 | |
Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 106 | 34 | |
Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 12 | 0 | |
Acquired Loans [Member] | Nonaccrual Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 4,487 | 587 | |
Acquired Loans [Member] | Nonaccrual Commercial Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 563 | 0 | |
Acquired Loans [Member] | Nonaccrual Commercial Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Nonaccrual Commercial Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 626 | 422 | |
Acquired Loans [Member] | Nonaccrual Commercial Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 3,298 | 162 | |
Acquired Loans [Member] | Nonaccrual Commercial Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 3 | |
Originated Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 34,311 | 40,497 | |
Financing Receivable, Recorded Investment, Current | 4,884,892 | 4,737,974 | |
Total | 4,919,203 | 4,778,471 | |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 14,561 | 20,554 | |
Financing Receivable, Recorded Investment, Current | 1,142,981 | 1,110,594 | |
Total | 1,157,542 | 1,131,148 | |
Originated Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 0 | 183 | |
Financing Receivable, Recorded Investment, Current | 237,035 | 217,657 | |
Total | 237,035 | 217,840 | |
Originated Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 11,892 | 12,009 | |
Financing Receivable, Recorded Investment, Current | 1,157,325 | 1,153,842 | |
Total | 1,169,217 | 1,165,851 | |
Originated Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 4,836 | 4,092 | |
Financing Receivable, Recorded Investment, Current | 1,814,754 | 1,712,951 | |
Total | 1,819,590 | 1,717,043 | |
Originated Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 3,022 | 3,659 | |
Financing Receivable, Recorded Investment, Current | 532,797 | 542,930 | |
Total | 535,819 | 546,589 | |
Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 7,539 | 8,601 | |
Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,864 | 2,380 | |
Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 183 | |
Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 3,325 | 4,133 | |
Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 863 | 265 | |
Originated Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,487 | 1,640 | |
Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 2,058 | 2,363 | |
Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 88 | 171 | |
Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,189 | 1,089 | |
Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 166 | 327 | |
Originated Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 615 | 776 | |
Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,780 | 2,097 | |
Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 48 | 75 | |
Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,015 | 995 | |
Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 5 | 57 | |
Originated Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 712 | 970 | |
Originated Loans [Member] | Nonaccrual Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 22,934 | 27,436 | |
Originated Loans [Member] | Nonaccrual Commercial Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 12,561 | 17,928 | |
Originated Loans [Member] | Nonaccrual Commercial Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Originated Loans [Member] | Nonaccrual Commercial Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 6,363 | 5,792 | |
Originated Loans [Member] | Nonaccrual Commercial Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 3,802 | 3,443 | |
Originated Loans [Member] | Nonaccrual Commercial Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | $ 208 | $ 273 |
Loans and Allowance for Credi58
Loans and Allowance for Credit Losses - Recorded Investment and Unpaid Principal Balance for Impaired Loans with Associated Allowance (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Acquired Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 4,284 | $ 2,376 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 7 | 7 | |||
Related allowance | 164 | 164 | $ 16 | ||
Recorded investment | 4,498 | 4,498 | 587 | ||
Unpaid principal balance | 5,707 | 5,707 | 661 | ||
Acquired Loans [Member] | Commercial Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 164 | 82 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Related allowance | 110 | 110 | 0 | ||
Recorded investment | 490 | 490 | 0 | ||
Unpaid principal balance | 490 | 490 | 0 | ||
Acquired Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 72 | 36 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Recorded investment | 72 | 72 | 0 | ||
Unpaid principal balance | 72 | 72 | 0 | ||
Acquired Loans [Member] | Real Estate Construction With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 100 | 50 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Acquired Loans [Member] | Residential Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 623 | 465 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 7 | 7 | |||
Recorded investment | 624 | 624 | 406 | ||
Unpaid principal balance | 943 | 943 | 480 | ||
Acquired Loans [Member] | Commercial Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 3,151 | 1,575 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Recorded investment | 3,140 | 3,140 | 162 | ||
Unpaid principal balance | 4,012 | 4,012 | 162 | ||
Acquired Loans [Member] | Loans To Individuals With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Recorded investment | 0 | 0 | 3 | ||
Unpaid principal balance | 0 | 0 | 3 | ||
Acquired Loans [Member] | With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 3,946 | 2,126 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 7 | 7 | |||
Recorded investment | 3,836 | 3,836 | 571 | ||
Unpaid principal balance | 5,027 | 5,027 | 645 | ||
Acquired Loans [Member] | Real Estate Construction With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Acquired Loans [Member] | Residential Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 14 | 7 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Related allowance | 4 | 4 | 16 | ||
Recorded investment | 14 | 14 | 16 | ||
Unpaid principal balance | 28 | 28 | 16 | ||
Acquired Loans [Member] | Commercial Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 160 | 161 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Related allowance | 50 | 50 | 0 | ||
Recorded investment | 158 | 158 | 0 | ||
Unpaid principal balance | 162 | 162 | 0 | ||
Acquired Loans [Member] | Loans To Individuals With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Acquired Loans [Member] | With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 338 | 250 | |||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |||
Related allowance | 164 | 164 | 16 | ||
Recorded investment | 662 | 662 | 16 | ||
Unpaid principal balance | 680 | 680 | 16 | ||
Originated Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 40,488 | $ 61,934 | 42,232 | $ 58,082 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 430 | 287 | 632 | 602 | |
Related allowance | 1,971 | 1,971 | 3,128 | ||
Recorded investment | 35,687 | 35,687 | 41,226 | ||
Unpaid principal balance | 49,146 | 49,146 | 56,296 | ||
Originated Loans [Member] | Commercial Loan [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 8,813 | 22,788 | 9,220 | 17,939 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 20 | 65 | 46 | 91 | |
Related allowance | 1,681 | 1,681 | 2,530 | ||
Recorded investment | 8,634 | 8,634 | 13,423 | ||
Unpaid principal balance | 12,699 | 12,699 | 19,226 | ||
Originated Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 12,583 | 18,995 | 13,888 | 20,116 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 251 | 95 | 289 | 249 | |
Recorded investment | 8,290 | 8,290 | 9,549 | ||
Unpaid principal balance | 14,697 | 14,697 | 15,369 | ||
Originated Loans [Member] | Real Estate Construction With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 9 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 44 | |
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Originated Loans [Member] | Residential Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 11,339 | 11,462 | 11,434 | 11,232 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 110 | 90 | 185 | 137 | |
Recorded investment | 11,128 | 11,128 | 10,873 | ||
Unpaid principal balance | 12,975 | 12,975 | 13,004 | ||
Originated Loans [Member] | Commercial Real Estate With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 6,596 | 6,887 | 6,586 | 7,136 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 34 | 29 | 88 | 67 | |
Recorded investment | 6,524 | 6,524 | 5,765 | ||
Unpaid principal balance | 7,498 | 7,498 | 6,905 | ||
Originated Loans [Member] | Loans To Individuals With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 344 | 405 | 341 | 442 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 9 | 2 | 11 | 3 | |
Recorded investment | 341 | 341 | 382 | ||
Unpaid principal balance | 391 | 391 | 507 | ||
Originated Loans [Member] | With No Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 30,862 | 37,749 | 32,249 | 38,935 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 404 | 216 | 573 | 500 | |
Recorded investment | 26,283 | 26,283 | 26,569 | ||
Unpaid principal balance | 35,561 | 35,561 | 35,785 | ||
Originated Loans [Member] | Real Estate Construction With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Originated Loans [Member] | Residential Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 332 | 476 | 279 | 347 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 31 | 31 | 164 | ||
Recorded investment | 342 | 342 | 424 | ||
Unpaid principal balance | 459 | 459 | 475 | ||
Originated Loans [Member] | Commercial Real Estate With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 481 | 921 | 484 | 861 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 6 | 6 | 13 | 11 | |
Related allowance | 259 | 259 | 434 | ||
Recorded investment | 428 | 428 | 810 | ||
Unpaid principal balance | 427 | 427 | 810 | ||
Originated Loans [Member] | Loans To Individuals With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | |
Related allowance | 0 | 0 | 0 | ||
Recorded investment | 0 | 0 | 0 | ||
Unpaid principal balance | 0 | 0 | 0 | ||
Originated Loans [Member] | With Related Allowance [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Financing Receivable, Average Recorded Investment | 9,626 | 24,185 | 9,983 | 19,147 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 26 | $ 71 | 59 | $ 102 | |
Related allowance | 1,971 | 1,971 | 3,128 | ||
Recorded investment | 9,404 | 9,404 | 14,657 | ||
Unpaid principal balance | $ 13,585 | $ 13,585 | $ 20,511 |
Loans and Allowance for Credi59
Loans and Allowance for Credit Losses - Troubled Debt Restructured Loans and Commitments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 24,632 | $ 25,359 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 147 | 358 |
Letter of Credit [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | 60 | 0 |
Unused lines of Credit [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | 87 | 358 |
Accrual Loans [Member] [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 12,764 | 13,790 |
Non Accrual Loans [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 11,868 | $ 11,569 |
Loans and Allowance for Credi60
Loans and Allowance for Credit Losses - Troubled Debt Restructurings Identified During Period (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 13 | 27 | 26 | 42 |
Total Pre-Modification Outstanding Recorded Investment | $ 8,794 | $ 2,982 | $ 9,611 | $ 7,960 |
Post- Modification Outstanding Recorded Investment | $ 6,659 | $ 2,833 | $ 7,419 | $ 7,405 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 964,000 | 114,000 | 964,000 | 114,000 |
Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 4 | 4 | 5 |
Total Pre-Modification Outstanding Recorded Investment | $ 8,513 | $ 332 | $ 8,554 | $ 4,101 |
Post- Modification Outstanding Recorded Investment | $ 6,385 | $ 217 | $ 6,422 | $ 3,708 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 960 | 40 | 960 | 40 |
Residential real estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 5 | 17 | 12 | 26 |
Total Pre-Modification Outstanding Recorded Investment | $ 193 | $ 1,435 | $ 729 | $ 2,530 |
Post- Modification Outstanding Recorded Investment | $ 189 | $ 1,428 | $ 683 | $ 2,440 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 4 | 0 | 4 | 0 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 4 | 3 | 6 |
Total Pre-Modification Outstanding Recorded Investment | $ 68 | $ 1,198 | $ 263 | $ 1,289 |
Post- Modification Outstanding Recorded Investment | $ 68 | $ 1,173 | $ 258 | $ 1,227 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 0 | 74 | 0 | 74 |
Loans to individuals [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 4 | 2 | 7 | 5 |
Total Pre-Modification Outstanding Recorded Investment | $ 20 | $ 17 | $ 65 | $ 40 |
Post- Modification Outstanding Recorded Investment | $ 17 | $ 15 | $ 56 | $ 30 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 0 | 0 | 0 | 0 |
Extended Maturity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | $ 6,768 | $ 1,290 | $ 7,076 | $ 1,356 |
Extended Maturity [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 6,768 | 92 | 6,768 | 92 |
Extended Maturity [Member] | Residential real estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 129 | 0 |
Extended Maturity [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 1,198 | 179 | 1,264 |
Extended Maturity [Member] | Loans to individuals [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Contractual Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 1,833 | 251 | 1,990 | 4,152 |
Contractual Interest Rate Reduction [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 1,745 | 240 | 1,786 | 4,009 |
Contractual Interest Rate Reduction [Member] | Residential real estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 85 | 0 | 187 | 114 |
Contractual Interest Rate Reduction [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Contractual Interest Rate Reduction [Member] | Loans to individuals [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 3 | 11 | 17 | 29 |
Contractual Payment Modification [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 193 | 1,441 | 545 | 2,452 |
Contractual Payment Modification [Member] | Commercial, financial, agricultural and other [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 | 0 | 0 |
Contractual Payment Modification [Member] | Residential real estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 108 | 1,435 | 413 | 2,416 |
Contractual Payment Modification [Member] | Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | 68 | 0 | 84 | 25 |
Contractual Payment Modification [Member] | Loans to individuals [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Total Pre-Modification Outstanding Recorded Investment | $ 17 | $ 6 | $ 48 | $ 11 |
Loans and Allowance for Credi61
Loans and Allowance for Credit Losses - Troubled Debt Restructuring is 90 Days or More Past Due (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | Jun. 30, 2017USD ($)Contract | Jun. 30, 2016USD ($)Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | Contract | 4 | 0 | 4 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 103 | $ 0 | $ 103 | $ 0 |
Residential real estate [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | Contract | 4 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 103 | $ 0 | ||
Residential real estate [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | Contract | 4 | 0 | ||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 103 | $ 0 |
Loans and Allowance for Credi62
Loans and Allowance for Credit Losses - Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Provision for credit losses | $ (1,609) | $ 10,372 | $ 1,620 | $ 16,898 | ||
Ending Balance | 59,821 | 59,821 | $ 48,067 | |||
Ending balance: individually evaluated for impaired | 15,530 | 15,530 | 2,135 | |||
Ending balance: collectively evaluated for impaired | 44,291 | 44,291 | 45,932 | |||
Total | 4,843,776 | 4,843,776 | 5,374,782 | $ 4,879,347 | ||
Ending balance: individually evaluated for impaired | 55,800 | 55,800 | 32,592 | |||
Ending balance: collectively evaluated for impaired | 4,787,976 | 4,787,976 | 5,342,190 | |||
Residential real estate [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Ending Balance | 2,605 | 2,605 | 2,120 | |||
Total | 1,199,005 | 1,199,005 | 1,416,926 | |||
Commercial Real Estate [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Ending Balance | 5,862 | 5,862 | 7,357 | |||
Ending balance: individually evaluated for impaired | 464 | 464 | 309 | |||
Ending balance: collectively evaluated for impaired | 5,398 | 5,398 | 7,048 | |||
Total | 1,648,222 | 1,648,222 | 1,963,001 | |||
Ending balance: individually evaluated for impaired | 6,017 | 6,017 | 8,697 | |||
Ending balance: collectively evaluated for impaired | 1,642,205 | 1,642,205 | 1,954,304 | |||
Commercial, financial, agricultural and other [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Ending Balance | 46,357 | 46,357 | 33,490 | |||
Ending balance: individually evaluated for impaired | 15,018 | 15,018 | 1,791 | |||
Ending balance: collectively evaluated for impaired | 31,339 | 31,339 | 31,699 | |||
Total | 1,185,062 | 1,185,062 | 1,199,800 | |||
Ending balance: individually evaluated for impaired | 43,817 | 43,817 | 16,917 | |||
Ending balance: collectively evaluated for impaired | 1,141,245 | 1,141,245 | 1,182,883 | |||
Real estate construction [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Ending Balance | 480 | 480 | 768 | |||
Ending balance: individually evaluated for impaired | 0 | 0 | 0 | |||
Ending balance: collectively evaluated for impaired | 480 | 480 | 768 | |||
Total | 242,132 | 242,132 | 249,255 | |||
Ending balance: individually evaluated for impaired | 0 | 0 | 0 | |||
Ending balance: collectively evaluated for impaired | 242,132 | 242,132 | 249,255 | |||
Residential real estate [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Ending balance: individually evaluated for impaired | 48 | 48 | 35 | |||
Ending balance: collectively evaluated for impaired | 2,557 | 2,557 | 2,085 | |||
Ending balance: individually evaluated for impaired | 5,966 | 5,966 | 6,978 | |||
Ending balance: collectively evaluated for impaired | 1,193,039 | 1,193,039 | 1,409,948 | |||
Loans to individuals [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Ending Balance | 4,517 | 4,517 | 4,332 | |||
Ending balance: individually evaluated for impaired | 0 | 0 | 0 | |||
Ending balance: collectively evaluated for impaired | 4,517 | 4,517 | 4,332 | |||
Total | 569,355 | 569,355 | 545,800 | |||
Ending balance: individually evaluated for impaired | 0 | 0 | 0 | |||
Ending balance: collectively evaluated for impaired | 569,355 | 569,355 | 545,800 | |||
Acquired Loans [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 31 | 19 | ||||
Charge-offs | (2) | (17) | ||||
Recoveries | 71 | 78 | ||||
Provision for credit losses | 72 | 92 | ||||
Ending Balance | 31 | 19 | 172 | 19 | ||
Total | 455,579 | 100,876 | ||||
Acquired Loans [Member] | Residential real estate [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 31 | 19 | ||||
Charge-offs | (1) | (9) | ||||
Recoveries | 21 | 27 | ||||
Provision for credit losses | (47) | (33) | ||||
Ending Balance | 31 | 19 | 4 | 19 | ||
Total | 247,709 | 63,341 | ||||
Acquired Loans [Member] | Commercial Real Estate [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 0 | 0 | ||||
Charge-offs | 0 | 0 | ||||
Recoveries | 4 | 4 | ||||
Provision for credit losses | 46 | 46 | ||||
Ending Balance | 0 | 0 | 50 | 0 | ||
Total | 143,411 | 25,167 | ||||
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 0 | 0 | ||||
Charge-offs | 0 | 0 | ||||
Recoveries | 0 | 0 | ||||
Provision for credit losses | 118 | 118 | ||||
Ending Balance | 0 | 0 | 118 | 0 | ||
Total | 42,258 | 8,399 | ||||
Acquired Loans [Member] | Real estate construction [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 0 | 0 | ||||
Charge-offs | 0 | 0 | ||||
Recoveries | 1 | 1 | ||||
Provision for credit losses | (1) | (1) | ||||
Ending Balance | 0 | 0 | 0 | 0 | ||
Total | 12,220 | 1,781 | ||||
Acquired Loans [Member] | Loans to individuals [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 0 | 0 | ||||
Charge-offs | (1) | (8) | ||||
Recoveries | 45 | 46 | ||||
Provision for credit losses | (44) | (38) | ||||
Ending Balance | 0 | 0 | 0 | 0 | ||
Total | 9,981 | 2,188 | ||||
Originated Loans [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 48,645 | 55,222 | 50,166 | 50,812 | ||
Charge-offs | (2,598) | (6,138) | (8,117) | (9,646) | ||
Recoveries | 3,529 | 365 | 4,318 | 1,757 | ||
Provision for credit losses | (1,681) | 10,372 | 1,528 | 16,898 | ||
Ending Balance | 48,645 | 55,222 | 50,166 | 50,812 | 47,895 | 50,166 |
Total | 4,919,203 | 4,778,471 | ||||
Originated Loans [Member] | Residential real estate [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 2,414 | 2,628 | 2,492 | 2,606 | ||
Charge-offs | (145) | (220) | (610) | (602) | ||
Recoveries | 70 | 142 | 192 | 260 | ||
Provision for credit losses | (223) | 55 | 42 | 341 | ||
Ending Balance | 2,414 | 2,628 | 2,492 | 2,606 | 2,116 | 2,492 |
Total | 1,169,217 | 1,165,851 | ||||
Originated Loans [Member] | Commercial Real Estate [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 6,582 | 5,483 | 6,619 | 11,924 | ||
Charge-offs | (29) | (143) | (60) | (408) | ||
Recoveries | 29 | 27 | 146 | 783 | ||
Provision for credit losses | 725 | 495 | 602 | (6,437) | ||
Ending Balance | 6,582 | 5,483 | 6,619 | 11,924 | 7,307 | 6,619 |
Total | 1,819,590 | 1,717,043 | ||||
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 34,701 | 41,721 | 35,974 | 31,035 | ||
Charge-offs | (1,452) | (4,753) | (5,277) | (6,145) | ||
Recoveries | 3,268 | 64 | 3,636 | 198 | ||
Provision for credit losses | (3,145) | 9,325 | (961) | 21,269 | ||
Ending Balance | 34,701 | 41,721 | 35,974 | 31,035 | 33,372 | 35,974 |
Total | 1,157,542 | 1,131,148 | ||||
Originated Loans [Member] | Real estate construction [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 614 | 901 | 577 | 887 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 42 | 4 | 96 | 227 | ||
Provision for credit losses | 112 | (425) | 95 | (634) | ||
Ending Balance | 614 | 901 | 577 | 887 | 768 | 577 |
Total | 237,035 | 217,840 | ||||
Originated Loans [Member] | Loans to individuals [Member] | ||||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||||||
Beginning Balance | 4,334 | 4,489 | 4,504 | 4,360 | ||
Charge-offs | (972) | (1,022) | (2,170) | (2,491) | ||
Recoveries | 120 | 128 | 248 | 289 | ||
Provision for credit losses | 850 | 922 | 1,750 | 2,359 | ||
Ending Balance | $ 4,334 | $ 4,489 | $ 4,504 | $ 4,360 | 4,332 | 4,504 |
Total | $ 535,819 | $ 546,589 |
Income Taxes Income Taxes (Deta
Income Taxes Income Taxes (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Unrecognized Tax Benefits | $ 0 | |
Restricted Stock Expense, Tax Benefit | $ 117 |
Fair Values of Assets and Lia64
Fair Values of Assets and Liabilities - Quantitative Inputs and Assumptions Used in Level 3 Fair Value Measurements (Detail) - USD ($) | 6 Months Ended | ||
Jun. 30, 2017 | Dec. 31, 2016 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | $ 786,246,000 | $ 778,612,000 | |
Assets | $ 836,244,000 | 829,181,000 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Minimum [Member] | Discount rates [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | [1] | 5.25% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Maximum [Member] | Discount rates [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | [1] | 12.00% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Discounted Cash Flow [Member] | Minimum [Member] | Probability of default [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | 0.00% | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Discounted Cash Flow [Member] | Minimum [Member] | Prepayment rates [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | 0.00% | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Discounted Cash Flow [Member] | Maximum [Member] | Probability of default [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | 100.00% | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Discounted Cash Flow [Member] | Maximum [Member] | Prepayment rates [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | 72.40% | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Discounted Cash Flow [Member] | Weighted average [Member] | Probability of default [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | 9.56% | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Discounted Cash Flow [Member] | Weighted average [Member] | Prepayment rates [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | 4.15% | ||
Equity Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | $ 1,670,000 | 1,670,000 | |
Impaired Loans [Member] | Discounted Cash Flow [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets | 7,038,000 | ||
Impaired Loans [Member] | Discounted Cash Flow [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets | 0 | ||
Impaired Loans [Member] | Discounted Cash Flow [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets | $ 0 | ||
Impaired Loans [Member] | Discounted Cash Flow [Member] | Weighted average [Member] | Discount rates [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | |||
Impaired Loans [Member] | Reserve Study [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets | $ 2,190,000 | ||
Impaired Loans [Member] | Reserve Study [Member] | NGL per gallon [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs Monetary | [2] | ||
Impaired Loans [Member] | Reserve Study [Member] | Minimum [Member] | Gas per MCF [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs Monetary | [2] | 2.87 | |
Impaired Loans [Member] | Reserve Study [Member] | Minimum [Member] | Oil per BBL/d [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs Monetary | [2] | 56.05 | |
Impaired Loans [Member] | Reserve Study [Member] | Maximum [Member] | Gas per MCF [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs Monetary | [2] | 3.61 | |
Impaired Loans [Member] | Reserve Study [Member] | Maximum [Member] | Oil per BBL/d [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value Inputs Monetary | [2] | $ 57.65 | |
Impaired Loans [Member] | Reserve Study [Member] | Weighted average [Member] | Discount rates [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Weighted average rate | 10.00% | ||
Limited Partnership Investment [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets | $ 1,477,000 | ||
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | 35,318,000 | 34,962,000 | |
Assets | 36,795,000 | 35,892,000 | |
Level 3 [Member] | Equity Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | 1,670,000 | 1,670,000 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | 33,648,000 | 33,292,000 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | 33,292,000 | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Level 3 [Member] | Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | 33,648,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate Owned Assets Fair Value | 6,281,000 | 7,566,000 | |
Assets | 44,331,000 | 46,235,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate Owned Assets Fair Value | 0 | 0 | |
Assets | 16,961,000 | $ 19,990,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate Owned Assets Fair Value | $ 0 | ||
[1] | ncorporates spread over risk free rate related primarily to credit quality and illiquidity of securities. | ||
[2] | The remainder of impaired loans valued using Level 3 inputs are not included in this disclosure as the values of those loans are based on bankruptcy agreement documentation. |
Fair Values of Assets and Lia65
Fair Values of Assets and Liabilities - Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | $ 36,751 | $ 35,479 | $ 35,892 | $ 37,828 |
Total gains or losses included in earnings | 0 | 0 | 0 | |
Total gains or losses included in other comprehensive income | (87) | 480 | 410 | (1,905) |
Purchases | 137 | 168 | 547 | 204 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | (6) | (30) | (54) | (30) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 536 | 0 | 536 |
Balance, end of period | 36,795 | 36,097 | 36,795 | 36,097 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | (536) | 0 | (536) |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | 33,741 | 33,273 | 33,292 | 35,658 |
Total gains or losses included in earnings | 0 | 0 | 0 | 0 |
Total gains or losses included in other comprehensive income | (87) | 480 | 410 | (1,905) |
Purchases | 0 | 0 | 0 | 0 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | (6) | (30) | (54) | (30) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 33,648 | 33,723 | 33,648 | 33,723 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | 0 | 0 |
Equity Securities [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | 1,670 | 2,206 | 1,670 | 2,170 |
Total gains or losses included in earnings | 0 | 0 | 0 | 0 |
Total gains or losses included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases | 0 | 0 | 0 | 36 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 | 0 | 0 |
Balance, end of period | 1,670 | 1,670 | 1,670 | 1,670 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 536 | 0 | 536 |
Other Assets [Member] | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Balance, beginning of period | 1,340 | 0 | 930 | 0 |
Total gains or losses included in earnings | 0 | 0 | 0 | 0 |
Total gains or losses included in other comprehensive income | 0 | 0 | 0 | 0 |
Purchases | 137 | 168 | 547 | 168 |
Issuances | 0 | 0 | 0 | 0 |
Sales | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 536 | 0 | 536 |
Balance, end of period | 1,477 | 704 | 1,477 | 704 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ 0 | $ 0 | $ 0 |
Fair Values of Assets and Lia66
Fair Values of Assets and Liabilities - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | $ 786,246 | $ 778,612 | ||
Other investments | 34,340 | 36,498 | ||
Loans Held for Sale | 9,785 | 7,052 | ||
Other Assets | 5,873 | [1] | 7,019 | [2] |
Total Assets | 836,244 | 829,181 | ||
Other Liabilities | 5,147 | [1] | 5,972 | [2] |
Total Liabilities | 5,147 | 5,972 | ||
Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 784,576 | 776,942 | ||
Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 1,670 | 1,670 | ||
US Government Agencies Residential Mortgage-backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 15,184 | 16,617 | ||
Residential Mortgage Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 690,689 | 676,853 | ||
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 1 | ||
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 1,096 | 16,631 | ||
Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 27,555 | 27,229 | ||
Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 16,404 | 6,319 | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 33,648 | 33,292 | ||
Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Other investments | 0 | 0 | ||
Loans Held for Sale | 0 | 0 | ||
Other Assets | 0 | [1] | 0 | [2] |
Total Assets | 0 | 0 | ||
Other Liabilities | 0 | [1] | 0 | [2] |
Total Liabilities | 0 | 0 | ||
Level 1 [Member] | Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | US Government Agencies Residential Mortgage-backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Residential Mortgage Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 1 [Member] | Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 750,928 | 743,650 | ||
Other investments | 34,340 | 36,498 | ||
Loans Held for Sale | 9,785 | 7,052 | ||
Other Assets | 4,396 | [1] | 6,089 | [2] |
Total Assets | 799,449 | 793,289 | ||
Other Liabilities | 5,147 | [1] | 5,972 | [2] |
Total Liabilities | 5,147 | 5,972 | ||
Level 2 [Member] | Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 750,928 | 743,650 | ||
Level 2 [Member] | Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 2 [Member] | US Government Agencies Residential Mortgage-backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 15,184 | 16,617 | ||
Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 690,689 | 676,853 | ||
Level 2 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 1 | ||
Level 2 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 1,096 | 16,631 | ||
Level 2 [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 27,555 | 27,229 | ||
Level 2 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 16,404 | 6,319 | ||
Level 2 [Member] | Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 35,318 | 34,962 | ||
Other investments | 0 | 0 | ||
Loans Held for Sale | 0 | 0 | ||
Other Assets | 1,477 | [1] | 930 | [2] |
Total Assets | 36,795 | 35,892 | ||
Other Liabilities | 0 | [1] | 0 | [2] |
Total Liabilities | 0 | 0 | ||
Level 3 [Member] | Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 33,648 | 33,292 | ||
Level 3 [Member] | Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 1,670 | 1,670 | ||
Level 3 [Member] | US Government Agencies Residential Mortgage-backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Residential Mortgage Backed Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Obligations of States and Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 0 | 0 | ||
Level 3 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | $ 0 | 0 | ||
Level 3 [Member] | Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | $ 33,292 | |||
[1] | Hedging and non-hedging interest rate derivatives and limited partnership investments | |||
[2] | on-hedging interest rate derivatives |
Fair Values of Assets and Lia67
Fair Values of Assets and Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | $ 0 | $ 536 | $ 0 | $ 536 | |
Impaired loans considered to be credit risk of non-collection | 100 | 100 | |||
Updated appraisal requirement floor | 250 | 250 | |||
Other real estate owned | 5,964 | 5,964 | $ 6,805 | ||
Financial instrument of credit risk | 200 | 200 | $ 200 | ||
Fair Value, Assets Measured on Recurring Basis, Gain (Loss) Included in Other Income, Assets and Liabilities Continue to be held | 0 | 0 | 0 | ||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 536 | 0 | 536 | |
Total gains or losses included in earnings | 0 | 0 | 0 | ||
Other Assets [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 536 | 0 | 536 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | 0 | ||
Total gains or losses included in earnings | $ 0 | $ 0 | $ 0 | $ 0 | |
Minimum [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Swap Rates Term Used to Determine Yield Curve | 3 years | ||||
Maximum [Member] | |||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Swap Rates Term Used to Determine Yield Curve | 30 years |
Fair Values of Assets and Lia68
Fair Values of Assets and Liabilities - Schedule of Assets Measured on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 836,244 | $ 829,181 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 38,050 | 38,669 |
Other real estate owned | 6,281 | 7,566 |
Total Assets | 44,331 | 46,235 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 0 | 0 |
Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total Assets | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 799,449 | 793,289 |
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 21,089 | 18,679 |
Other real estate owned | 6,281 | 7,566 |
Total Assets | 27,370 | 26,245 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 36,795 | 35,892 |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 16,961 | 19,990 |
Other real estate owned | 0 | 0 |
Total Assets | $ 16,961 | $ 19,990 |
Fair Values of Assets and Lia69
Fair Values of Assets and Liabilities - Losses Realized on Assets Measured on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | ||||
Impaired loans | $ (238) | $ (6,991) | $ (1,278) | $ (14,576) |
Other real estate owned | (1,094) | (245) | (1,125) | (258) |
Total losses | $ (1,332) | $ (7,236) | $ (2,403) | $ (14,834) |
Fair Values of Assets and Lia70
Fair Values of Assets and Liabilities - Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Carrying Amount [Member] | ||
Fair Value Measurements Of Financial Instruments [Line Items] | ||
Cash and due from banks | $ 103,602 | $ 91,033 |
Interest-bearing deposits | 12,310 | 24,644 |
Securities available for sale, at fair value | 786,246 | 778,612 |
Held-to-maturity Securities | 450,886 | 372,513 |
Other investments | 34,340 | |
Loans Held for sale, Amount | 9,785 | 7,052 |
Loans and Leases Receivable, Net of Deferred Income | 5,374,782 | 4,879,347 |
Deposits | 5,533,135 | 4,947,408 |
Short-term borrowings | 846,137 | 867,943 |
Subordinated debt | 72,167 | 72,167 |
Long-term debt | 8,458 | 8,749 |
Capital Lease Obligations | 7,764 | |
Estimate of Fair Value Measurement [Member] | ||
Fair Value Measurements Of Financial Instruments [Line Items] | ||
Cash and due from banks | 103,602 | 91,033 |
Interest-bearing deposits | 12,310 | 24,644 |
Securities available for sale, at fair value | 786,246 | 778,612 |
Held-to-maturity Securities | 449,127 | 368,618 |
Other investments | 34,340 | 36,498 |
Loans Held for sale, Amount | 9,785 | 7,052 |
Loans and Leases Receivable, Net of Deferred Income | 5,367,138 | 4,878,254 |
Deposits | 5,535,206 | 4,949,714 |
Short-term borrowings | 846,026 | 867,667 |
Subordinated debt | 65,917 | 65,656 |
Long-term debt | 8,953 | 9,169 |
Capital Lease Obligations | 7,764 | |
Estimate of Fair Value Measurement [Member] | Level 1 [Member] | ||
Fair Value Measurements Of Financial Instruments [Line Items] | ||
Cash and due from banks | 103,602 | 91,033 |
Interest-bearing deposits | 12,310 | 24,644 |
Securities available for sale, at fair value | 0 | 0 |
Held-to-maturity Securities | 0 | 0 |
Other investments | 0 | 0 |
Loans Held for sale, Amount | 0 | 0 |
Loans and Leases Receivable, Net of Deferred Income | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Subordinated debt | 0 | 0 |
Long-term debt | 0 | 0 |
Capital Lease Obligations | 0 | |
Estimate of Fair Value Measurement [Member] | Level 2 [Member] | ||
Fair Value Measurements Of Financial Instruments [Line Items] | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits | 0 | 0 |
Securities available for sale, at fair value | 750,928 | 743,650 |
Held-to-maturity Securities | 449,127 | 368,618 |
Other investments | 34,340 | 36,498 |
Loans Held for sale, Amount | 9,785 | 7,052 |
Loans and Leases Receivable, Net of Deferred Income | 21,089 | 18,679 |
Deposits | 5,535,206 | 4,949,714 |
Short-term borrowings | 846,026 | 867,667 |
Subordinated debt | 0 | 0 |
Long-term debt | 8,953 | 9,169 |
Capital Lease Obligations | 7,764 | |
Estimate of Fair Value Measurement [Member] | Level 3 [Member] | ||
Fair Value Measurements Of Financial Instruments [Line Items] | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits | 0 | 0 |
Securities available for sale, at fair value | 35,318 | 34,962 |
Held-to-maturity Securities | 0 | 0 |
Other investments | 0 | 0 |
Loans Held for sale, Amount | 0 | 0 |
Loans and Leases Receivable, Net of Deferred Income | 5,346,049 | 4,859,575 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Subordinated debt | 65,917 | 65,656 |
Long-term debt | 0 | $ 0 |
Capital Lease Obligations | $ 0 |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($)Derivatives | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($)Derivatives | Jun. 30, 2016USD ($) | Dec. 31, 2016USD ($) | |
Risk participation Agreements [Line Items] | |||||
HedgedItemsOfCashFlowHedge | $ 200,000 | $ 200,000 | |||
Derivative Instruments Designated As Hedging Instruments Interest Income | $ 424 | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $ (5) | 26 | |||
Risk Participation Agreements Purchased [Domain] | |||||
Risk participation Agreements [Line Items] | |||||
Number of interest rate swaps | Derivatives | 28 | 28 | |||
Risk Participation Agreements Sold [Domain] | |||||
Risk participation Agreements [Line Items] | |||||
Number of interest rate swaps | Derivatives | 8 | 8 | |||
Forward Contracts [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $ (17) | 0 | $ 95 | $ 0 | |
Derivative Liability, Cost Basis, Gross Asset | 9,300 | 9,300 | |||
Derivative Liability, Fair Value, Gross Asset | 9,600 | 9,600 | |||
Derivative Liability, Notional Amount, Gross Asset | 22,200 | 22,200 | |||
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | (95) | (95) | $ 0 | ||
Derivative, Notional Amount | 29,000 | 29,000 | 0 | ||
Foreign Exchange [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | (1) | $ 4 | 1 | 7 | |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | 76 | 76 | 8 | ||
Derivative, Notional Amount | 8,239 | 8,239 | 4,749 | ||
Derivative Liability, Cost Basis, Gross Asset | 8,200 | 8,200 | 4,700 | ||
Derivative Liability, Fair Value, Gross Asset | 8,300 | 8,300 | 4,700 | ||
Three Year Maturity [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Notional Amount | 85,000 | 85,000 | |||
Four Year Maturity [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Notional Amount | 115,000 | 115,000 | |||
Interest Rate Swap [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative Instruments Designated As Hedging Instruments Interest Income | 136 | 385 | 854 | ||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 73 | $ 41 | |||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||||
Risk participation Agreements [Line Items] | |||||
Derivative, Fair Value, Net | 139 | 139 | 443 | ||
Derivative, Notional Amount | $ 200,000 | $ 200,000 | $ 200,000 |
Derivatives - Credit Value Adju
Derivatives - Credit Value Adjustment Recorded Related to Notional Amount of Derivatives Outstanding (Detail) - USD ($) $ in Thousands | Jun. 30, 2017 | Dec. 31, 2016 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | $ (353) | $ (317) |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | (337,020) | (345,102) |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | (139) | (443) |
Derivative, Notional Amount | (200,000) | (200,000) |
Interest Rate Cap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | (26,500) | (14,762) |
Credit Default Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | (172,634) | (174,213) |
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | 95 | 0 |
Derivative, Notional Amount | (29,000) | 0 |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | (76) | (8) |
Derivative, Notional Amount | (8,239) | (4,749) |
Short [Member] | Credit Default Swap, Selling Protection [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ (39,754) | $ (40,281) |
Derivatives - Schedule of Chang
Derivatives - Schedule of Changes in Fair Value of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Derivative [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (37) | $ (531) | $ (35) | $ (1,545) |
Derivative Instruments Designated As Hedging Instruments Interest Income | 424 | |||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | (5) | 26 | ||
Interest Rate Swap [Member] | ||||
Derivative [Line Items] | ||||
Derivative Instruments Designated As Hedging Instruments Interest Income | 136 | 385 | 854 | |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 73 | 41 | ||
Forward Contracts [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | (17) | 0 | 95 | 0 |
Foreign Exchange [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $ (1) | $ 4 | $ 1 | $ 7 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - USD ($) | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Goodwill Disclosure [Abstract] | |||
Goodwill | $ 255,359,000 | $ 186,483,000 | |
Goodwill, Period Increase (Decrease) | 68,916,000 | ||
Goodwill, Acquired During Period | 70,500,000 | ||
Goodwill, Translation and Purchase Accounting Adjustments | 1,600,000 | ||
Impairment charges on goodwill | $ 0 | $ 0 |