Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 08, 2018 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
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 | 100,361,905 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 65,886 | $ 98,624 |
Interest-bearing bank deposits | 9,736 | 8,668 |
Securities available for sale, at fair value | 812,877 | 731,358 |
Securities held to maturity, at amortized cost (Fair value of $399,528 and $418,249 at March 31, 2018 and December 31, 2017, respectively) | 410,430 | 422,096 |
Other investments | 24,400 | 29,837 |
Loans held for sale | 9,759 | 14,850 |
Loans: | ||
Portfolio loans | 5,381,305 | 5,407,376 |
Allowance for credit losses | (53,732) | (48,298) |
Net loans | 5,327,573 | 5,359,078 |
Premises and equipment, net | 80,868 | 81,339 |
Other real estate owned | 2,997 | 2,765 |
Goodwill | 255,180 | 255,353 |
Amortizing intangibles, net | 14,223 | 15,007 |
Bank owned life insurance | 211,287 | 212,099 |
Other assets | 95,551 | 77,465 |
Total assets | 7,320,767 | 7,308,539 |
Deposits (all domestic): | ||
Noninterest-bearing | 1,443,747 | 1,416,771 |
Interest-bearing | 4,259,775 | 4,163,934 |
Total deposits | 5,703,522 | 5,580,705 |
Short-term borrowings | 588,016 | 707,466 |
Subordinated debentures | 72,167 | 72,167 |
Other long-term debt | 8,011 | 8,161 |
Capital Lease Obligations | 7,498 | 7,590 |
Total long-term debt | 87,676 | 87,918 |
Other liabilities | 42,204 | 44,323 |
Total liabilities | 6,421,418 | 6,420,412 |
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 shares issued at March 31, 2018 and December 31, 2017, and 97,603,151 and 97,456,478 shares outstanding at March 31, 2018 and December 31, 2017, respectively | 113,915 | 113,915 |
Additional paid-in capital | 471,768 | 470,123 |
Retained earnings | 454,227 | 437,416 |
Accumulated other comprehensive loss, net | (13,009) | (6,173) |
Treasury stock (16,311,751 and 16,458,424 shares at March 31, 2018 and December 31, 2017, respectively) | (127,552) | (127,154) |
Total shareholders’ equity | 899,349 | 888,127 |
Total liabilities and shareholders’ equity | $ 7,320,767 | $ 7,308,539 |
Condensed Consolidated Stateme3
Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
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 | 113,914,902 |
Common stock, shares outstanding (in shares) | 97,603,151 | 97,456,478 |
Treasury stock, shares (in shares) | 16,311,751 | 16,458,424 |
Securities held to maturity, fair value | $ 399,528 | $ 418,249 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest Income | ||
Interest and fees on loans | $ 58,483 | $ 48,300 |
Interest and dividends on investments: | ||
Taxable interest | 7,056 | 6,994 |
Interest exempt from federal income taxes | 410 | 397 |
Dividends | 519 | 476 |
Interest on bank deposits | 31 | 12 |
Total interest income | 66,499 | 56,179 |
Interest Expense | ||
Interest on deposits | 3,541 | 1,812 |
Interest on short-term borrowings | 2,295 | 1,749 |
Interest on subordinated debentures | 827 | 705 |
Interest on other long-term debt | 77 | 83 |
Interest Expense, Lessee, Assets under Capital Lease | 74 | 0 |
Total interest expense | 6,814 | 4,349 |
Net Interest Income | 59,685 | 51,830 |
Provision for credit losses | 6,903 | 3,229 |
Net Interest Income after Provision for Credit Losses | 52,782 | 48,601 |
Noninterest Income | ||
Net securities gains | 2,840 | 652 |
Trust income | 1,928 | 1,417 |
Service charges on deposit accounts | 4,406 | 4,319 |
Insurance and retail brokerage commissions | 1,868 | 2,082 |
Income from bank owned life insurance | 1,494 | 1,292 |
Gain on sale of mortgage loans | 1,484 | 977 |
Gain on sale of other loans and assets | 574 | 307 |
Card-related interchange income | 4,742 | 4,251 |
Derivatives mark to market | 789 | 2 |
Derivative Fee Income | 290 | (73) |
Other income | 1,628 | 1,706 |
Total noninterest income | 22,043 | 16,932 |
Noninterest Expense | ||
Salaries and employee benefits | 24,873 | 23,466 |
Net occupancy expense | 4,369 | 3,761 |
Furniture and equipment expense | 3,540 | 3,088 |
Data processing expense | 2,433 | 2,085 |
Marketing and Advertising Expense | 809 | 806 |
Pennsylvania shares tax expense | 903 | 816 |
Intangible amortization | 784 | 572 |
Collection and repossession expense | 823 | 497 |
Other professional fees and services | 1,007 | 959 |
FDIC insurance | 776 | 793 |
Loss on sale or write-down of assets | 197 | 99 |
Litigation and operational losses | 179 | 232 |
Conversion Related Expenses | 337 | 611 |
Total noninterest expense | 46,873 | 42,765 |
Income Before Income Taxes | 27,952 | 22,768 |
Income tax provision | 4,682 | 6,880 |
Net Income | $ 23,270 | $ 15,888 |
Average Shares Outstanding (in shares) | 97,433,137 | 88,929,892 |
Average Shares Outstanding Assuming Dilution (in shares) | 97,601,162 | 88,987,671 |
Per Share Data: | ||
Basic Earnings per Share (in dollars per share) | $ 0.24 | $ 0.18 |
Diluted Earnings per Share (in dollars per share) | 0.24 | 0.18 |
Cash Dividends Declared per Common Share (in dollars per share) | $ 0.08 | $ 0.08 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net Income | $ 23,270 | $ 15,888 |
Other comprehensive (loss) income, before tax benefit (expense): | ||
Unrealized holding (losses) gains on securities arising during the period | (3,982) | 2,543 |
Less: reclassification adjustment for gains on securities included in net income | (2,840) | (652) |
Unrealized holding losses on derivatives arising during the period | (130) | (516) |
Less: reclassification adjustment for losses on derivatives included in net income | 0 | 78 |
Total other comprehensive (loss) income, before tax benefit (expense) | (6,952) | 1,453 |
Income tax benefit (expense) related to items of other comprehensive (loss) income | 1,460 | (509) |
Total other comprehensive (loss) income | (5,492) | 944 |
Comprehensive Income | $ 17,778 | $ 16,832 |
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] |
Cumulative effect of adoption of ASU 2018-02 | Effect of ASU Adoption [Member] | $ 0 | $ 0 | ||||
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 | 89,007,077 | |||||
Net Income | 15,888 | 15,888 | ||||
Other comprehensive income (loss) | 944 | 944 | ||||
Dividends, declared (USD per share) | (7,119) | (7,119) | ||||
Treasury stock acquired | (1,102) | (1,102) | ||||
Treasury stock acquired, shares | (78,632) | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,258 | 1,044 | 0 | 1,214 | ||
Stock Issued During Period, Shares, Treasury Stock Reissued | 158,638 | |||||
Restricted stock | 197 | $ 0 | 137 | 0 | 60 | |
Restricted stock, shares | 26,000 | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,258 | |||||
Ending balance at Mar. 31, 2017 | 760,995 | $ 105,563 | 367,607 | 421,533 | (6,083) | (127,625) |
Ending balance, shares at Mar. 31, 2017 | 89,113,083 | |||||
Cumulative effect of adoption of ASU 2018-02 | Effect of ASU Adoption [Member] | 0 | 1,344 | (1,344) | |||
Beginning balance (Scenario, Previously Reported [Member]) at Dec. 31, 2017 | 888,127 | $ 113,915 | 470,123 | 437,416 | (6,173) | (127,154) |
Beginning balance at Dec. 31, 2017 | $ 888,127 | $ 113,915 | 470,123 | 438,760 | (7,517) | (127,154) |
Beginning balance, shares (Scenario, Previously Reported [Member]) at Dec. 31, 2017 | 97,456,478 | |||||
Beginning balance, shares at Dec. 31, 2017 | 97,456,478 | 97,456,478 | ||||
Net Income | $ 23,270 | 23,270 | ||||
Other comprehensive income (loss) | (5,492) | (5,492) | ||||
Dividends, declared (USD per share) | (7,803) | (7,803) | ||||
Treasury stock acquired | (1,079) | (1,079) | ||||
Treasury stock acquired, shares | (72,307) | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,257 | 1,108 | 0 | 1,149 | ||
Stock Issued During Period, Shares, Treasury Stock Reissued | 149,480 | |||||
Restricted stock | 69 | $ 0 | 537 | 0 | (468) | |
Restricted stock, shares | 69,500 | |||||
Stock Issued During Period, Value, Treasury Stock Reissued | 2,257 | |||||
Ending balance at Mar. 31, 2018 | $ 899,349 | $ 113,915 | $ 471,768 | $ 454,227 | $ (13,009) | $ (127,552) |
Ending balance, shares at Mar. 31, 2018 | 97,603,151 | 97,603,151 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash Dividends Declared per Common Share (in dollars per share) | $ 0.08 | $ 0.08 |
Condensed Consolidated Stateme8
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating Activities | ||
Net Income | $ 23,270 | $ 15,888 |
Provision for credit losses | 6,903 | 3,229 |
Deferred tax expense | 1,097 | 2,506 |
Depreciation and amortization | 2,380 | 2,113 |
Net gains on securities and other assets | (5,143) | (1,718) |
Net (accretion) amortization of premiums and discounts on securities | 775 | 867 |
Income from increase in cash surrender value of bank owned life insurance | (1,494) | (1,292) |
Increase in interest receivable | (620) | (338) |
Mortgage loans originated for sale | (38,218) | (27,580) |
Proceeds from sale of mortgage loans | 46,134 | 29,829 |
(Decrease) increase in interest payable | (235) | 571 |
Increase in income taxes payable | 3,557 | 4,354 |
Other-net | (17,004) | (991) |
Net cash provided by operating activities | 21,402 | 27,438 |
Investing Activities | ||
Proceeds from sale and maturity of held-to-maturity securities | 11,335 | 10,826 |
Payments to acquire held-to-maturity securities | 0 | (25,140) |
Proceeds from Sale of Available-for-sale Securities | 0 | 0 |
Proceeds from maturities and redemptions of available-for-sale securities | 44,067 | 33,125 |
Purchases of available-for-sale securities | (130,012) | (85,220) |
Purchases of FHLB stock | (13,491) | (12,883) |
Proceeds from the redemption of FHLB stock | 18,928 | 10,712 |
Proceeds from Sale of Loans Receivable | 6,647 | 0 |
Proceeds from sale of other assets | 1,141 | 1,631 |
Increase in Restricted Cash | 0 | (21,284) |
Net decrease (increase) in loans | 16,012 | (37,514) |
Payments for Purchase of Other Assets | (154) | (410) |
Purchases of premises and equipment | (1,820) | (1,531) |
Net cash used in investing activities | (47,347) | (127,688) |
Financing Activities | ||
Net increase in federal funds purchased | 6,000 | 0 |
Net (decrease) increase in other short-term borrowings | (125,450) | 93,658 |
Net increase in deposits | 122,849 | 22,385 |
Repayments of other long-term debt | (150) | (145) |
Repayments of Long-term Capital Lease Obligations | 92 | 0 |
Dividends paid | (7,803) | (7,119) |
Purchase of treasury stock | (1,079) | (1,102) |
Net cash (used in) provided by financing activities | (5,725) | 107,677 |
Net (decrease) increase in cash and cash equivalents | (31,670) | 7,427 |
Cash and cash equivalents at January 1 | 107,292 | 115,677 |
Cash and cash equivalents at March 31 | $ 75,622 | $ 123,104 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
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 three months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the full year of 2018 . These interim financial statements should be read in conjunction with First Commonwealth’s 2017 Annual Report on Form 10-K. Adoption of New Accounting Standards On January 1, 2018, First Commonwealth adopted ASU 2014-09, "Revenue from Contracts with Customers" ("ASC 606") and all subsequent amendments to the ASU, which creates a single framework for recognizing revenue from contracts with customers that fall within its scope and revises when it is appropriate to recognize a gain(loss) from the transfer of nonfinancial assets, such as OREO. The majority of the Company's revenues come from interest income and other sources, including loans and securities, that are outside the scope of ASC 606. The Company's services that fall within the scope of ASC 606 are presented within non-interest income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of ASC 606 include trust income, service charges on deposits, insurance and retail brokerage commissions, interchange fees and gain(loss) on other real estate owned ("OREO"). Refer to Note 13, "Revenue Recognition" for further discussion on the Company's accounting policies for revenue sources within the scope of ASC 606. The Company adopted ASC 606 using the modified retrospective method applied to all contracts not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606 while prior period amounts continue to be reported in accordance with legacy GAAP. The adoption of ASC 606 did not result in a change to the accounting for any of the in-scope revenue streams; as such, no cumulative effect adjustment was recorded. On January 1, 2018, First Commonwealth elected to adopt ASU 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220)." As part of this adoption, First Commonwealth has elected to reclassify the income tax effects resulting from tax reform from accumulated other comprehensive income to retained earnings on a portfolio basis. ASU 2018-02 provides for the reclassification of the stranded tax effects resulting from the Tax Cuts and Jobs Act. As of January 1, 2018, First Commonwealth reclassified $1.3 million from accumulated other comprehensive income to retained earnings in relation to the stranded tax effect which included accumulated other comprehensive income recognized on available-for-sale investment securities, interest rate swaps and other post-retirement benefits. This reclassification is shown as an adjustment to the beginning of the year balances and can be seen in the Condensed Consolidated Statements of Changes in Shareholders' Equity. In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” This ASU addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments by making targeted improvements to GAAP as follows: (1) require equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; (2) simplify the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, and when that assessment indicates that impairment exists, requiring the entity to measure the investment at fair value; (3) eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities; (4) eliminate the requirement for public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet; (5) require public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; (6) require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (7) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; and (8) clarify that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The adoption of ASU No. 2016-01 on January 1, 2018 did not have a material impact on the Company’s Consolidated Financial Statements. In accordance with this ASU, and as reflected in Note 10, "Fair Values of Assets and Liabilities", the Company measured the fair value of its loan portfolio as of March 31, 2018 using an exit price notion. 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. |
Supplemental Comprehensive Inco
Supplemental Comprehensive Income Disclosures | 3 Months Ended |
Mar. 31, 2018 | |
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 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 Three Months Ended March 31, 2018 2017 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized (losses) gains on securities: Unrealized holding (losses) gains on securities arising during the period $ (3,982 ) $ 837 $ (3,145 ) $ 2,543 $ (890 ) $ 1,653 Reclassification adjustment for gains on securities included in net income (2,840 ) 596 (2,244 ) (652 ) 228 (424 ) Total unrealized (losses) gains on securities (6,822 ) 1,433 (5,389 ) 1,891 (662 ) 1,229 Unrealized losses on derivatives: Unrealized holding losses on derivatives arising during the period (130 ) 27 (103 ) (516 ) 181 (335 ) Reclassification adjustment for losses on derivatives included in net income — — — 78 (28 ) 50 Total unrealized losses on derivatives (130 ) 27 (103 ) (438 ) 153 (285 ) Total other comprehensive (loss) income $ (6,952 ) $ 1,460 $ (5,492 ) $ 1,453 $ (509 ) $ 944 The following table details the change in components of OCI for the three months ended March 31 : 2018 2017 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 $ (6,166 ) $ 299 $ (306 ) $ (6,173 ) $ (7,455 ) $ 225 $ 203 $ (7,027 ) Cumulative effect of adoption of ASU 2018-02 (1,344 ) — — (1,344 ) — — — — Balance at January 1 (7,510 ) 299 (306 ) (7,517 ) (7,455 ) 225 203 (7,027 ) Other comprehensive (loss) income before reclassification adjustment (3,145 ) — (103 ) (3,248 ) 1,653 — (335 ) 1,318 Amounts reclassified from accumulated other comprehensive (loss) income (2,244 ) — — (2,244 ) (424 ) — 50 (374 ) Net other comprehensive (loss) income during the period (5,389 ) — (103 ) (5,492 ) 1,229 — (285 ) 944 Balance at March 31 $ (12,899 ) $ 299 $ (409 ) $ (13,009 ) $ (6,226 ) $ 225 $ (82 ) $ (6,083 ) |
Supplemental Cash Flow Disclosu
Supplemental Cash Flow Disclosures | 3 Months Ended |
Mar. 31, 2018 | |
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 three months ended March 31 : 2018 2017 (dollars in thousands) Cash paid during the period for: Interest $ 7,072 $ 3,832 Income taxes 28 1,039 Non-cash investing and financing activities: Loans transferred to other real estate owned and repossessed assets 1,186 958 Loans transferred from held to maturity to held for sale 8,019 3,613 Gross (decrease) increase in market value adjustment to securities available for sale (6,822 ) 1,892 Gross decrease in market value adjustment to derivatives (131 ) (438 ) Investments committed to purchase, not settled — 498 Noncash treasury stock reissuance 2,257 2,258 Proceeds from death benefit on bank-owned life insurance not received 2,306 — |
Earnings per Share
Earnings per Share | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 2017 Weighted average common shares issued 113,914,902 105,563,455 Average treasury stock shares (16,369,144 ) (16,527,204 ) Average deferred compensation shares (37,411 ) — Average unearned nonvested shares (75,210 ) (106,359 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 97,433,137 88,929,892 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 130,614 57,779 Additional common stock equivalents (deferred compensation) used to calculate diluted earnings per share 37,411 — Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 97,601,162 88,987,671 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 three months ended March 31 because to do so would have been antidilutive. 2018 2017 Price Range Price Range Shares From To Shares From To Restricted Stock 37,298 $ 9.84 $ 14.49 13,750 $ 13.96 $ 13.96 Restricted Stock Units 43,067 $ 13.25 $ 15.83 24,375 $ 15.09 $ 15.09 |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 3 Months Ended |
Mar. 31, 2018 | |
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: March 31, 2018 December 31, 2017 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 1,782,701 $ 1,840,180 Financial standby letters of credit 17,636 17,946 Performance standby letters of credit 21,328 20,472 Commercial letters of credit 1,055 1,149 The notional amounts outstanding as of March 31, 2018 include amounts issued in 2018 of $37 thousand in financial standby letters of credit and $0.4 million in performance standby letters of credit. There were no commercial letters of credit issued in 2017. A liability of $0.2 million has been recorded as of March 31, 2018 and December 31, 2017 , 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 $5.2 million as of March 31, 2018 and December 31, 2017 . 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 March 31, 2018 , 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 $1 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 Financial Corporation, First Commonwealth Bank, the plaintiffs, the plaintiffs’ counsel and First Commonwealth’s liability insurer have entered into a Class Action Settlement Agreement and Release in which, among other things, First Commonwealth and its insurer have agreed to pay certain amounts into a settlement fund to be distributed among the class members and class counsel, First Commonwealth has agreed to satisfy the remaining deficiency balances of the class members and request that credit reporting agencies delete the tradeline relating to the repossession from each class member’s credit report, and the class members will release all claims against First Commonwealth and its insurer. The Court granted preliminary approval of the settlement on March 29, 2018, and has scheduled a hearing on July 23, 2018 to consider final approval of the settlement. The estimated cost of the settlement to First Commonwealth 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 | 3 Months Ended |
Mar. 31, 2018 | |
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: March 31, 2018 December 31, 2017 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 10,100 $ 646 $ (81 ) $ 10,665 $ 10,556 $ 789 $ (7 ) $ 11,338 Mortgage-Backed Securities – Commercial 73,389 — (1,252 ) 72,137 24,611 — (462 ) 24,149 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 681,343 1,913 (18,468 ) 664,788 632,422 2,622 (9,489 ) 625,555 Other Government-Sponsored Enterprises 1,100 — (2 ) 1,098 1,098 — (1 ) 1,097 Obligations of States and Political Subdivisions 27,086 121 (46 ) 27,161 27,083 327 — 27,410 Corporate Securities 20,898 542 (214 ) 21,226 15,907 590 (4 ) 16,493 Pooled Trust Preferred Collateralized Debt Obligations 13,602 1,252 (722 ) 14,132 27,499 526 (4,379 ) 23,646 Total Debt Securities 827,518 4,474 (20,785 ) 811,207 739,176 4,854 (14,342 ) 729,688 Equities 1,670 — — 1,670 1,670 — — 1,670 Total Securities Available for Sale $ 829,188 $ 4,474 $ (20,785 ) $ 812,877 $ 740,846 $ 4,854 $ (14,342 ) $ 731,358 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 March 31, 2018 , by contractual maturity, are shown below. Amortized Estimated (dollars in thousands) Due within 1 year $ 5,099 $ 5,073 Due after 1 but within 5 years 15,727 15,541 Due after 5 but within 10 years 26,337 26,409 Due after 10 years 15,523 16,594 62,686 63,617 Mortgage-Backed Securities (a) 764,832 747,590 Total Debt Securities $ 827,518 $ 811,207 (a) Mortgage-Backed Securities include an amortized cost of $83.5 million and a fair value of $82.8 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $681.3 million and a fair value of $664.8 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 three months ended March 31 : 2018 2017 (dollars in thousands) Proceeds from sales $ — $ — Gross gains (losses) realized: Sales Transactions: Gross gains $ — $ — Gross losses — — — — Maturities and impairment Gross gains 2,840 652 Gross losses — — 2,840 652 Net gains and impairment $ 2,840 $ 652 Gross gains from maturities and impairment of $2.8 million were recognized in 2018 as a result of the successful auction call on PreSTL XIV, one of our pooled trust preferred securities. Gross gains of $0.7 million were recognized in 2017 due to the early redemption of another of our trust preferred securities, PreSTL VII. Securities available for sale with an estimated fair value of $609.9 million and $569.0 million were pledged as of March 31, 2018 and December 31, 2017 , 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: March 31, 2018 December 31, 2017 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 3,895 $ — $ (109 ) $ 3,786 $ 3,925 $ — $ (14 ) $ 3,911 Mortgage-Backed Securities- Commercial 57,762 — (2,224 ) 55,538 58,249 — (1,394 ) 56,855 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 294,205 — (7,645 ) 286,560 305,126 10 (2,552 ) 302,584 Mortgage-Backed Securities – Commercial 13,859 — (299 ) 13,560 14,056 — (71 ) 13,985 Obligations of States and Political Subdivisions 40,509 38 (660 ) 39,887 40,540 335 (161 ) 40,714 Debt Securities Issued by Foreign Governments 200 — (3 ) 197 200 — — 200 Total Securities Held to Maturity $ 410,430 $ 38 $ (10,940 ) $ 399,528 $ 422,096 $ 345 $ (4,192 ) $ 418,249 The amortized cost and estimated fair value of debt securities held to maturity at March 31, 2018 , 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 $ 87 $ 86 Due after 1 but within 5 years 3,646 3,626 Due after 5 but within 10 years 35,350 34,764 Due after 10 years 1,626 1,608 40,709 40,084 Mortgage-Backed Securities (a) 369,721 359,444 Total Debt Securities $ 410,430 $ 399,528 (a) Mortgage-Backed Securities include an amortized cost of $61.7 million and a fair value of $59.3 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $308.1 million and a fair value of $300.1 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 $369.4 million and $338.3 million were pledged as of March 31, 2018 and December 31, 2017 , respectively, to secure public deposits and for other purposes required or permitted by law. |
Impairment of Investment Securi
Impairment of Investment Securities | 3 Months Ended |
Mar. 31, 2018 | |
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 three months ended March 31, 2018 and 2017 , 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 10, “Fair Values of Assets and Liabilities,” for additional information. The following table presents the gross unrealized losses and estimated fair values at March 31, 2018 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 $ 7,923 $ (190 ) $ — $ — $ 7,923 $ (190 ) Mortgage-Backed Securities – Commercial 95,862 (2,120 ) 31,813 (1,356 ) 127,675 (3,476 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 500,625 (10,277 ) 378,709 (15,836 ) 879,334 (26,113 ) Mortgage-Backed Securities – Commercial 13,560 (299 ) — — 13,560 (299 ) Other Government-Sponsored Enterprises 999 (1 ) 99 (1 ) 1,098 (2 ) Obligations of States and Political Subdivisions 31,032 (413 ) 3,489 (293 ) 34,521 (706 ) Debt securities issued by foreign governments 197 (3 ) — — 197 (3 ) Corporate Securities 18,764 (214 ) — — 18,764 (214 ) Pooled Trust Preferred Collateralized Debt Obligations — — 6,362 (722 ) 6,362 (722 ) Total Securities $ 668,962 $ (13,517 ) $ 420,472 $ (18,208 ) $ 1,089,434 $ (31,725 ) At March 31, 2018 , fixed income securities issued by U.S. Government-sponsored enterprises and U.S. Government agencies comprised 83% and 12% , respectively, of total unrealized losses due to changes in market interest rates. Pooled trust preferred collateralized debt obligations accounted for 2% of the unrealized losses primarily due to the illiquid market for this investment type. At March 31, 2018 , there are 155 debt securities in an unrealized loss position. The following table presents the gross unrealized losses and estimated fair values at December 31, 2017 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 $ 5,584 $ (21 ) $ — $ — $ 5,584 $ (21 ) Mortgage-Backed Securities - Commercial 48,322 (962 ) 32,683 (894 ) 81,005 (1,856 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 351,222 (2,295 ) 400,984 (9,746 ) 752,206 (12,041 ) Mortgage-Backed Securities – Commercial 13,985 (71 ) — — 13,985 (71 ) Other Government-Sponsored Enterprises 997 (1 ) 99 — 1,096 (1 ) Obligation of States and Political Subdivisions 7,144 (32 ) 3,653 (129 ) 10,797 (161 ) Corporate Securities 3,993 (4 ) — — 3,993 (4 ) Pooled Trust Preferred Collateralized Debt Obligations — — 19,120 (4,379 ) 19,120 (4,379 ) Total Securities $ 431,247 $ (3,386 ) $ 456,539 $ (15,148 ) $ 887,786 $ (18,534 ) As of March 31, 2018 , our corporate securities had an amortized cost and an estimated fair value of $20.9 million and $21.2 million , respectively. As of December 31, 2017 , our corporate securities had an amortized cost and estimated fair value of $15.9 million and $16.5 million , respectively. Corporate securities are comprised of debt for large regional banks. There were four corporate securities in an unrealized loss position as of March 31, 2018 and one corporate security in an unrealized loss position as of December 31, 2017 . 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 March 31, 2018 , the book value of our pooled trust preferred collateralized debt obligations totaled $13.6 million with an estimated fair value of $14.1 million , which includes securities comprised of 164 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 March 31, 2018 , 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 four of our securities had excess subordination which ranged from 2% to 114% of the current performing collateral. The following table provides information related to our pooled trust preferred collateralized debt obligations as of March 31, 2018 : Deal Class Book Estimated Fair Unrealized Moody’s/ Number Deferrals Excess (dollars in thousands) Pre TSL IV Mezzanine $ 933 $ 738 $ (195 ) Ba1/BB 5 — % 113.79 % Pre TSL VIII Mezzanine 2,072 2,295 223 C/C 26 38.52 0.00 Pre TSL IX Mezzanine 2,457 3,000 543 B1/C 37 27.83 19.46 Pre TSL X Mezzanine 1,894 2,301 407 Caa1/C 41 26.29 1.73 Pre TSL XII Mezzanine 6,151 5,624 (527 ) B3/C 64 23.39 0.00 MMCap I Mezzanine 95 174 79 Ca/C 7 69.35 69.99 Total $ 13,602 $ 14,132 $ 530 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. During the three months ended March 31, 2018, an auction call was successfully completed on PreTSL XIV. This resulted in the security being called at par providing a gain of $2.8 million. On a quarterly basis we evaluate our debt securities for other-than-temporary impairment. During the three months ended March 31, 2018 and 2017 , 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 March 31, 2018 . 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 164 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 March 31, 2018 , default probabilities for performing collateral ranged from 0.33% to 50% . 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 March 31, 2018 , indicates that no credit-related other-than-temporary impairment has occurred on our pooled trust preferred securities during the three months ended March 31, 2018 . 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 March 31, 2018 indicates it is probable that we will collect all contractual principal and interest payments. For three of those securities, PreTSL IX, PreTSL X, 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 March 31, 2018 , 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 19% to 101% 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 March 31, 2018 2017 (dollars in thousands) Balance, beginning (a) $ 12,208 $ 17,056 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) (147 ) (228 ) Reduction for debt securities called during the period (2,302 ) — Balance, ending $ 9,759 $ 16,828 (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 three months of 2018 and 2017 , 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 March 31, 2018 and 2017 , 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 March 31, 2018 and December 31, 2017 , our FHLB stock totaled $24.4 million and $29.8 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 months ended March 31, 2018 . |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses | 3 Months Ended |
Mar. 31, 2018 | |
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: March 31, 2018 December 31, 2017 Originated Acquired Total Originated Acquired Total (dollars in thousands) Commercial, financial, agricultural and other $ 1,093,192 $ 38,402 $ 1,131,594 $ 1,122,741 $ 40,642 $ 1,163,383 Real estate construction 245,841 1,120 246,961 242,905 5,963 248,868 Residential real estate 1,220,989 213,634 1,434,623 1,206,119 220,251 1,426,370 Commercial real estate 1,901,609 125,463 2,027,072 1,892,185 126,911 2,019,096 Loans to individuals 535,484 5,571 541,055 543,411 6,248 549,659 Total loans $ 4,997,115 $ 384,190 $ 5,381,305 $ 5,007,361 $ 400,015 $ 5,407,376 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: March 31, 2018 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,020,603 $ 245,841 $ 1,209,290 $ 1,871,008 $ 535,240 $ 4,881,982 Non-Pass OAEM 31,480 — 1,574 7,748 — 40,802 Substandard 34,140 — 10,125 22,853 244 67,362 Doubtful 6,969 — — — — 6,969 Total Non-Pass 72,589 — 11,699 30,601 244 115,133 Total $ 1,093,192 $ 245,841 $ 1,220,989 $ 1,901,609 $ 535,484 $ 4,997,115 Acquired loans Pass $ 32,439 $ 1,120 $ 211,361 $ 122,411 $ 5,554 $ 372,885 Non-Pass OAEM 5,486 — 745 1,251 — 7,482 Substandard 477 — 1,528 1,801 17 3,823 Doubtful — — — — — — Total Non-Pass 5,963 — 2,273 3,052 17 11,305 Total $ 38,402 $ 1,120 $ 213,634 $ 125,463 $ 5,571 $ 384,190 December 31, 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 $ 1,061,147 $ 242,905 $ 1,194,352 $ 1,855,253 $ 543,175 $ 4,896,832 Non-Pass OAEM 26,757 — 1,435 13,326 — 41,518 Substandard 30,431 — 10,332 23,606 236 64,605 Doubtful 4,406 — — — — 4,406 Total Non-Pass 61,594 — 11,767 36,932 236 110,529 Total $ 1,122,741 $ 242,905 $ 1,206,119 $ 1,892,185 $ 543,411 $ 5,007,361 Acquired loans Pass $ 34,573 $ 5,963 $ 217,824 $ 121,536 $ 6,231 $ 386,127 Non-Pass OAEM 5,567 — 798 3,517 — 9,882 Substandard 502 — 1,629 1,858 17 4,006 Doubtful — — — — — — Total Non-Pass 6,069 — 2,427 5,375 17 13,888 Total $ 40,642 $ 5,963 $ 220,251 $ 126,911 $ 6,248 $ 400,015 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 March 31, 2018 . 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 March 31, 2018 and December 31, 2017 . 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. March 31, 2018 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 2,163 $ 23 $ 168 $ 24,298 $ 26,652 $ 1,066,540 $ 1,093,192 Real estate construction — — — — — 245,841 245,841 Residential real estate 2,849 996 649 6,187 10,681 1,210,308 1,220,989 Commercial real estate 1,751 783 304 5,675 8,513 1,893,096 1,901,609 Loans to individuals 1,369 463 768 244 2,844 532,640 535,484 Total $ 8,132 $ 2,265 $ 1,889 $ 36,404 $ 48,690 $ 4,948,425 $ 4,997,115 Acquired loans Commercial, financial, agricultural and other $ 11 $ — $ 26 $ 411 $ 448 $ 37,954 $ 38,402 Real estate construction — — — — — 1,120 1,120 Residential real estate 119 110 21 718 968 212,666 213,634 Commercial real estate — — — 1,000 1,000 124,463 125,463 Loans to individuals 66 11 19 17 113 5,458 5,571 Total $ 196 $ 121 $ 66 $ 2,146 $ 2,529 $ 381,661 $ 384,190 December 31, 2017 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 378 $ 61 $ 40 $ 18,741 $ 19,220 $ 1,103,521 $ 1,122,741 Real estate construction 199 — — — 199 242,706 242,905 Residential real estate 4,618 1,025 1,076 6,225 12,944 1,193,175 1,206,119 Commercial real estate 2,198 28 6 3,240 5,472 1,886,713 1,892,185 Loans to individuals 1,899 769 623 236 3,527 539,884 543,411 Total $ 9,292 $ 1,883 $ 1,745 $ 28,442 $ 41,362 $ 4,965,999 $ 5,007,361 Acquired loans Commercial, financial, agricultural and other $ 6 $ 7 $ — $ 436 $ 449 $ 40,193 $ 40,642 Real estate construction — — — — — 5,963 5,963 Residential real estate 148 9 83 705 945 219,306 220,251 Commercial real estate — — — 1,077 1,077 125,834 126,911 Loans to individuals 36 20 26 17 99 6,149 6,248 Total $ 190 $ 36 $ 109 $ 2,235 $ 2,570 $ 397,445 $ 400,015 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 March 31, 2018 and December 31, 2017 , there were no nonaccrual loans held for sale. There were no gains or losses recognized on sales of impaired loans during the three months ended March 31, 2018 and 2017 . The following tables include the recorded investment and unpaid principal balance for impaired loans with the associated allowance amount, if applicable, as of March 31, 2018 and December 31, 2017 . 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. March 31, 2018 December 31, 2017 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Originated loans: With no related allowance recorded: Commercial, financial, agricultural and other $ 4,791 $ 9,559 $ 5,548 $ 12,153 Real estate construction — — — — Residential real estate 10,129 12,000 10,625 12,470 Commercial real estate 4,624 5,038 5,155 5,489 Loans to individuals 339 379 347 383 Subtotal 19,883 26,976 21,675 30,495 With an allowance recorded: Commercial, financial, agricultural and other 28,615 28,795 $ 9,045 16,866 21,094 $ 3,478 Real estate construction — — — — — — Residential real estate 808 846 277 456 478 107 Commercial real estate 5,753 5,763 2,139 954 954 128 Loans to individuals — — — — — — Subtotal 35,176 35,404 11,461 18,276 22,526 3,713 Total $ 55,059 $ 62,380 $ 11,461 $ 39,951 $ 53,021 $ 3,713 March 31, 2018 December 31, 2017 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Acquired loans With no related allowance recorded: Commercial, financial, agricultural and other $ 411 $ 424 $ 436 $ 449 Real estate construction — — — — Residential real estate 677 1,003 666 965 Commercial real estate 891 1,811 940 1,842 Loans to individuals 17 17 17 17 Subtotal 1,996 3,255 2,059 3,273 With an allowance recorded: Commercial, financial, agricultural and other — — $ — — — $ — Real estate construction — — — — — — Residential real estate 93 122 10 93 122 4 Commercial real estate 109 124 2 137 150 29 Loans to individuals — — — — — — Subtotal 202 246 12 230 272 33 Total $ 2,198 $ 3,501 $ 12 $ 2,289 $ 3,545 $ 33 For the Three Months Ended March 31, 2018 2017 Originated Loans Acquired Loans Originated Loans Acquired Loans Average Interest Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 8,130 $ 10 $ 411 $ — $ 12,034 $ 38 $ — $ — Real estate construction — — — — — — — — Residential real estate 10,401 63 678 1 11,422 74 241 — Commercial real estate 5,510 31 907 — 5,949 54 162 — Loans to individuals 354 2 17 — 338 2 — — Subtotal 24,395 106 2,013 1 29,743 168 403 — With an allowance recorded: Commercial, financial, agricultural and other 17,720 66 — — 12,787 26 — — Real estate construction — — — — — — — — Residential real estate 706 — 93 — 334 1 65 — Commercial real estate 1,960 1 118 — 1,111 7 — — Loans to individuals — — — — — — — — Subtotal 20,386 67 211 — 14,232 34 65 — Total $ 44,781 $ 173 $ 2,224 $ 1 $ 43,975 $ 202 $ 468 $ — Unfunded commitments related to nonperforming loans were $4.2 million at March 31, 2018 and $2.4 million at December 31, 2017 . After consideration of the requirements to draw and available collateral related to these commitments, a reserve of $0.4 million and $0.2 million was established for these off balance sheet exposures at March 31, 2018 and December 31, 2017 , 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: March 31, 2018 December 31, 2017 (dollars in thousands) Troubled debt restructured loans Accrual status $ 18,707 $ 11,563 Nonaccrual status 10,233 11,222 Total $ 28,940 $ 22,785 Commitments Letters of credit $ 60 $ 60 Unused lines of credit 1,778 54 Total $ 1,838 $ 114 The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings: For the Three Months Ended March 31, 2018 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 2 $ 4,709 $ — $ 162 $ 4,871 $ 3,942 $ 531 Residential real estate 11 20 75 346 441 404 17 Commercial real estate 1 3,017 — — 3,017 2,994 227 Loans to individuals 4 — 28 30 58 53 — Total 18 $ 7,746 $ 103 $ 538 $ 8,387 $ 7,393 $ 775 For the Three Months Ended March 31, 2017 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 1 $ — $ 42 $ — $ 42 $ 38 $ — Residential real estate 7 129 101 306 536 504 — Commercial real estate 2 179 — 16 195 193 — Loans to individuals 3 — 14 30 44 43 — Total 13 $ 308 $ 157 $ 352 $ 817 $ 778 $ — 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 March 31, 2018 and 2017 , $0.1 million and $0.2 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 2018 and 2017 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 loans that were restructured within the past twelve months and that were considered to be in default during the three months ended March 31 : 2018 2017 Number of Recorded Number of Recorded (dollars in thousands) Commercial, financial, agricultural and other 1 $ 940 — $ — Total 1 $ 940 — $ — The following tables provide detail related to the allowance for credit losses: For the Three Months Ended March 31, 2018 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 23,418 $ 1,349 $ 2,753 $ 17,328 $ 3,404 $ 48,252 Charge-offs (290 ) — (455 ) (168 ) (1,169 ) (2,082 ) Recoveries 256 1 75 69 195 596 Provision (credit) 4,148 (236 ) 768 1,265 986 6,931 Ending balance 27,532 1,114 3,141 18,494 3,416 53,697 Acquired loans: Beginning balance 11 — 6 29 — 46 Charge-offs — — (16 ) — (4 ) (20 ) Recoveries 7 — 6 17 — 7 37 Provision (credit) 2 (6 ) 6 (27 ) (3 ) (28 ) Ending balance 20 — 13 2 — 35 Total ending balance $ 27,552 $ 1,114 $ 3,154 $ 18,496 $ 3,416 $ 53,732 Ending balance: individually evaluated for impairment $ 9,045 $ — $ 287 $ 2,141 $ — $ 11,473 Ending balance: collectively evaluated for impairment 18,507 1,114 2,867 16,355 3,416 42,259 Loans: Ending balance 1,131,594 246,961 1,434,623 2,027,072 541,055 5,381,305 Ending balance: individually evaluated for impairment 33,278 — 6,853 10,360 — 50,491 Ending balance: collectively evaluated for impairment 1,098,316 246,961 1,427,770 2,016,712 541,055 5,330,814 For the Three Months Ended March 31, 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 (3,825 ) — (465 ) (31 ) (1,198 ) (5,519 ) Recoveries 368 54 122 117 128 789 Provision (credit) 2,184 (17 ) 265 (123 ) 900 3,209 Ending balance 34,701 614 2,414 6,582 4,334 48,645 Acquired loans: Beginning balance — — 19 — — 19 Charge-offs — — (8 ) — (7 ) (15 ) Recoveries — — — 6 — 1 7 Provision (credit) — — 14 — 6 20 Ending balance — — 31 — — 31 Total ending balance $ 34,701 $ 614 $ 2,445 $ 6,582 $ 4,334 $ 48,676 Ending balance: individually evaluated for impairment $ 2,466 $ — $ 175 $ 376 $ — $ 3,017 Ending balance: collectively evaluated for impairment 32,235 614 2,270 6,206 4,334 45,659 Loans: Ending balance 1,148,460 240,122 1,217,398 1,761,101 540,880 4,907,961 Ending balance: individually evaluated for impairment 26,260 — 6,287 5,819 — 38,366 Ending balance: collectively evaluated for impairment 1,122,200 240,122 1,211,111 1,755,282 540,880 4,869,595 |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes At March 31, 2018 and December 31, 2017 , 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 2014 and forward remain open for examination as of March 31, 2018 . During the first quarter of 2018, First Commonwealth adopted ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220)". Adoption of this ASU reclassified the stranded other accumulated income of $1.3 million resulting from the tax reform passed in December 2017 from accumulated other comprehensive income to retained earnings. There was no impact to total equity as a result of the adoption of this update. 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 | 3 Months Ended |
Mar. 31, 2018 | |
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 7, “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. Also included in loans held for sale are commercial loans for which fair value is determined using an executed trade or market bid obtained from potential buyers. 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 11, “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 2018 , 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 $ 14,132 Discounted Cash Flow Probability of default 0% - 100% (7.42%) Prepayment rates 0% - 71.89% (8.73%) Discount rates 5% - 11.5% (a) Equities 1,670 Par Value N/A N/A Impaired Loans 1,290 (b) Reserve study Discount rate 10.00% Gas per MMBTU $2.81 - $3.35 (c) Oil per BBL/d $51.59 - $59.55 (c) 11,181 (b) Discounted Cash Flow Discount Rate 1.9% - 21.0% Limited Partnership Investments 2,292 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: March 31, 2018 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 10,665 $ — $ 10,665 Mortgage-Backed Securities - Commercial — 72,137 — 72,137 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 664,788 — 664,788 Other Government-Sponsored Enterprises — 1,098 — 1,098 Obligations of States and Political Subdivisions — 27,161 — 27,161 Corporate Securities — 21,226 — 21,226 Pooled Trust Preferred Collateralized Debt Obligations — — 14,132 14,132 Total Debt Securities — 797,075 14,132 811,207 Equities — — 1,670 1,670 Total Securities Available for Sale — 797,075 15,802 812,877 Other Investments — 24,400 — 24,400 Loans Held for Sale — 9,759 — 9,759 Other Assets(a) — 4,355 2,292 6,647 Total Assets $ — $ 835,589 $ 18,094 $ 853,683 Other Liabilities(a) $ — $ 4,879 $ — $ 4,879 Total Liabilities $ — $ 4,879 $ — $ 4,879 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments December 31, 2017 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 11,338 $ — $ 11,338 Mortgage-Backed Securities - Commercial — 24,149 — 24,149 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 625,555 — 625,555 Other Government-Sponsored Enterprises — 1,097 — 1,097 Obligations of States and Political Subdivisions — 27,410 — 27,410 Corporate Securities — 16,493 — 16,493 Pooled Trust Preferred Collateralized Debt Obligations — — 23,646 23,646 Total Debt Securities — 706,042 23,646 729,688 Equities — — 1,670 1,670 Total Securities Available for Sale — 706,042 25,316 731,358 Other Investments — 29,837 — 29,837 Loans Held for Sale — 14,850 — 14,850 Other Assets(a) — 1,778 2,143 3,921 Total Assets $ — $ 752,507 $ 27,459 $ 779,966 Other Liabilities(a) $ — $ 3,079 $ — $ 3,079 Total Liabilities $ — $ 3,079 $ — $ 3,079 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments For the three months ended March 31 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2018 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 23,646 $ 1,670 $ 2,143 $ 27,459 Total gains or losses Included in earnings 2,840 — — 2,840 Included in other comprehensive income 4,529 — — 4,529 Purchases, issuances, sales and settlements Purchases — — 149 149 Issuances — — — — Sales — — — — Settlements (16,883 ) — — (16,883 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance, end of period $ 14,132 $ 1,670 $ 2,292 $ 18,094 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 497 — — 497 Purchases, issuances, sales and settlements Purchases — — 410 410 Issuances — — — — Sales — — — — Settlements (48 ) — — (48 ) Transfers from Level 3 — — — Transfers into Level 3 — — — — Balance, end of period $ 33,741 $ 1,670 $ 1,340 $ 36,751 During the three months ended March 31, 2018 and 2017 , there were no transfers between fair value Levels 1 , 2 or 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 March 31, 2018 and 2017 . The tables below present the balances of assets measured at fair value on a nonrecurring basis at: March 31, 2018 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 26,546 $ 19,238 $ 45,784 Other real estate owned — 3,278 — 3,278 Total Assets $ — $ 29,824 $ 19,238 $ 49,062 December 31, 2017 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 23,249 $ 15,245 $ 38,494 Other real estate owned — 3,264 — 3,264 Total Assets $ — $ 26,513 $ 15,245 $ 41,758 The following gain (losses) were realized on the assets measured on a nonrecurring basis: For the Three Months Ended March 31, 2018 2017 (dollars in thousands) Impaired loans $ (7,850 ) $ (1,460 ) Other real estate owned (30 ) (31 ) Total losses $ (7,880 ) $ (1,491 ) 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. OREO has a current carrying value of $3.0 million as of March 31, 2018 and consists primarily of residential and 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 12, “Goodwill.” There were no other assets or liabilities measured at fair value on a nonrecurring basis during the three months ended March 31, 2018 . 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. 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 March 31, 2018 and December 31, 2017 . See Note 5, “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 type 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: March 31, 2018 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 65,886 $ 65,886 $ 65,886 $ — $ — Interest-bearing deposits 9,736 9,736 9,736 — — Securities available for sale 812,877 812,877 — 797,075 15,802 Securities held to maturity 410,430 399,528 — 399,528 — Other investments 24,400 24,400 — 24,400 — Loans held for sale 9,759 9,759 — 9,759 — Loans 5,381,305 5,399,240 — 26,546 5,372,694 Financial liabilities Deposits 5,703,522 5,701,021 — 5,701,021 — Short-term borrowings 588,016 587,834 — 587,834 — Subordinated debt 72,167 70,114 — — 70,114 Long-term debt 8,011 8,237 — 8,237 — Capital lease obligation 7,498 7,498 — 7,498 — December 31, 2017 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 98,624 $ 98,624 $ 98,624 $ — $ — Interest-bearing deposits 8,668 8,668 8,668 — — Securities available for sale 731,358 731,358 — 706,042 25,316 Securities held to maturity 422,096 418,249 — 418,249 — Other investments 29,837 29,837 — 29,837 — Loans held for sale 14,850 14,850 — 14,850 — Loans 5,407,376 5,443,434 — 23,249 5,420,185 Financial liabilities Deposits 5,580,705 5,580,812 — 5,580,812 — Short-term borrowings 707,466 707,263 — 707,263 — Subordinated debt 72,167 65,785 — — 65,785 Long-term debt 8,161 8,548 — 8,548 — Capital Lease Obligation 7,590 7,590 — 7,590 — |
Derivatives
Derivatives | 3 Months Ended |
Mar. 31, 2018 | |
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 37 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 twelve 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 two interest rate swap contracts that were designated as cash flow hedges. The interest rate swaps have a total notional amount of $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 $115.0 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 months ended March 31, 2018 , there was a $0.1 million negative impact 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 March 31, 2018 and December 31, 2017 , 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 three months ended March 31, 2018 totaled $62 thousand . 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 March 31, 2018 , the underlying funded mortgage loan commitments had a carrying value of $7.0 million and a fair value of $7.2 million , while the underlying unfunded mortgage loan commitments had a notional amount of $18.3 million . At December 31, 2017 , the underlying funded mortgage loan commitments had a carrying value of $14.3 million and a fair value of $14.7 million , while the underlying unfunded mortgage loan commitments had a notional amount of $13.8 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 three months ended March 31, 2018 totaled $3 thousand . At March 31, 2018 and December 31, 2017 , the underlying loans had a carrying value of $7.8 million and $10.0 million , respectively, and a fair value of $7.8 million and $10.1 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: March 31, 2018 December 31, 2017 (dollars in thousands) Derivatives not Designated as Hedging Instruments Credit value adjustment $ (2 ) $ (791 ) Notional amount: Interest rate derivatives 408,973 401,304 Interest rate caps 46,361 46,444 Risk participation agreements 189,491 197,660 Sold credit protection on risk participation agreements (63,345 ) (46,170 ) Derivatives Designated as Hedging Instruments Interest rate swaps: Fair value adjustment (590 ) 459 Notional amount 115,000 150,000 Interest rate forwards: Fair value adjustment 81 19 Notional amount 22,000 17,000 Foreign exchange forwards: Fair value adjustment (13 ) (70 ) Notional amount 7,858 10,077 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 March 31, 2018 2017 (dollars in thousands) Non-hedging interest rate derivatives Increase in other income $ 789 $ 2 Hedging interest rate derivatives (Decrease) increase in interest and fees on loans (81 ) 249 Increase in other expense — 78 Hedging interest rate forwards (Decrease) increase in other expense (62 ) 112 Hedging foreign exchange forwards (Decrease) increase in other expense (3 ) 2 The fair value of our derivatives is included in a table in Note 10, “Fair Values of Assets and Liabilities,” in the line items “Other assets” and “Other liabilities.” |
Goodwill
Goodwill | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017 was $255.2 million and $255.4 million , respectively. Goodwill decreased $0.2 million during the three months ended March 31, 2018 as a result of deferred tax adjustments related to the DCB Financial ("DCB") acquisition. No impairment charges on goodwill or other intangible assets were incurred in 2018 or 2017 . 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 March 31, 2018 , 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) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements | New Accounting Pronouncements 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. Additionally, in January 2018, the FASB issued ASU No. 2018-01, "Leases (Topic 842)" providing an optional practical expedient to Topic 842. 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 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 August 2017, the FASB issued ASU No. 2017-12, "Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities" with the objective of improving the financial reporting of hedging relationships to better portray the economic results of risk management activities in its financial statements. The main provisions of this ASU update the hedge accounting model to expand the ability to hedge risk, reduce complexity, and ease certain documentation and assessment requirements. It also eliminates the requirement to separately measure and report hedge ineffectiveness, and generally requires the change in fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The adoption of this ASU is not expected to have a material impact on First Commonwealth’s financial condition or results of operations. In February 2018, the FASB issued ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 22)" allowing a reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects resulting from the Tax Cuts and Jobs Act. This amendment also requires certain disclosures about the stranded tax effects, including disclosure of the policy for releasing income tax effects from accumulated other comprehensive income and the impact if the entity elected to reclassify the income tax effects or, if the entity did not elect to reclassify, a statement that the entity did not elect to reclassify. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company adopted this ASU as of January 1, 2018. Adoption of this ASU did not have a material impact on First Commonwealth's financial condition or results of operations. |
Subsequent Event (Notes)
Subsequent Event (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | Subsequent Event On May 1, 2018, the Company completed its acquisition of Garfield Acquisition Corp., and its banking subsidiary, Foundation Bank. Foundation has approximately $207 million in assets and operates five full-service banking offices which will operate under the First Commonwealth name. |
Supplemental Comprehensive In23
Supplemental Comprehensive Income Disclosures (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 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 Three Months Ended March 31, 2018 2017 Pretax Amount Tax (Expense) Benefit Net of Tax Amount Pretax Amount Tax (Expense) Benefit Net of Tax Amount (dollars in thousands) Unrealized (losses) gains on securities: Unrealized holding (losses) gains on securities arising during the period $ (3,982 ) $ 837 $ (3,145 ) $ 2,543 $ (890 ) $ 1,653 Reclassification adjustment for gains on securities included in net income (2,840 ) 596 (2,244 ) (652 ) 228 (424 ) Total unrealized (losses) gains on securities (6,822 ) 1,433 (5,389 ) 1,891 (662 ) 1,229 Unrealized losses on derivatives: Unrealized holding losses on derivatives arising during the period (130 ) 27 (103 ) (516 ) 181 (335 ) Reclassification adjustment for losses on derivatives included in net income — — — 78 (28 ) 50 Total unrealized losses on derivatives (130 ) 27 (103 ) (438 ) 153 (285 ) Total other comprehensive (loss) income $ (6,952 ) $ 1,460 $ (5,492 ) $ 1,453 $ (509 ) $ 944 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table details the change in components of OCI for the three months ended March 31 : 2018 2017 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 $ (6,166 ) $ 299 $ (306 ) $ (6,173 ) $ (7,455 ) $ 225 $ 203 $ (7,027 ) Cumulative effect of adoption of ASU 2018-02 (1,344 ) — — (1,344 ) — — — — Balance at January 1 (7,510 ) 299 (306 ) (7,517 ) (7,455 ) 225 203 (7,027 ) Other comprehensive (loss) income before reclassification adjustment (3,145 ) — (103 ) (3,248 ) 1,653 — (335 ) 1,318 Amounts reclassified from accumulated other comprehensive (loss) income (2,244 ) — — (2,244 ) (424 ) — 50 (374 ) Net other comprehensive (loss) income during the period (5,389 ) — (103 ) (5,492 ) 1,229 — (285 ) 944 Balance at March 31 $ (12,899 ) $ 299 $ (409 ) $ (13,009 ) $ (6,226 ) $ 225 $ (82 ) $ (6,083 ) |
Supplemental Cash Flow Disclo24
Supplemental Cash Flow Disclosures (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 three months ended March 31 : 2018 2017 (dollars in thousands) Cash paid during the period for: Interest $ 7,072 $ 3,832 Income taxes 28 1,039 Non-cash investing and financing activities: Loans transferred to other real estate owned and repossessed assets 1,186 958 Loans transferred from held to maturity to held for sale 8,019 3,613 Gross (decrease) increase in market value adjustment to securities available for sale (6,822 ) 1,892 Gross decrease in market value adjustment to derivatives (131 ) (438 ) Investments committed to purchase, not settled — 498 Noncash treasury stock reissuance 2,257 2,258 Proceeds from death benefit on bank-owned life insurance not received 2,306 — |
Earnings per Share (Tables)
Earnings per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 2017 Weighted average common shares issued 113,914,902 105,563,455 Average treasury stock shares (16,369,144 ) (16,527,204 ) Average deferred compensation shares (37,411 ) — Average unearned nonvested shares (75,210 ) (106,359 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 97,433,137 88,929,892 Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share 130,614 57,779 Additional common stock equivalents (deferred compensation) used to calculate diluted earnings per share 37,411 — Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 97,601,162 88,987,671 |
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 three months ended March 31 because to do so would have been antidilutive. 2018 2017 Price Range Price Range Shares From To Shares From To Restricted Stock 37,298 $ 9.84 $ 14.49 13,750 $ 13.96 $ 13.96 Restricted Stock Units 43,067 $ 13.25 $ 15.83 24,375 $ 15.09 $ 15.09 |
Commitments and Contingent Li26
Commitments and Contingent Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Notional Amount of Outstanding Commitments | The following table identifies the notional amount of those instruments at: March 31, 2018 December 31, 2017 (dollars in thousands) Financial instruments whose contract amounts represent credit risk: Commitments to extend credit $ 1,782,701 $ 1,840,180 Financial standby letters of credit 17,636 17,946 Performance standby letters of credit 21,328 20,472 Commercial letters of credit 1,055 1,149 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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: March 31, 2018 December 31, 2017 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 10,100 $ 646 $ (81 ) $ 10,665 $ 10,556 $ 789 $ (7 ) $ 11,338 Mortgage-Backed Securities – Commercial 73,389 — (1,252 ) 72,137 24,611 — (462 ) 24,149 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 681,343 1,913 (18,468 ) 664,788 632,422 2,622 (9,489 ) 625,555 Other Government-Sponsored Enterprises 1,100 — (2 ) 1,098 1,098 — (1 ) 1,097 Obligations of States and Political Subdivisions 27,086 121 (46 ) 27,161 27,083 327 — 27,410 Corporate Securities 20,898 542 (214 ) 21,226 15,907 590 (4 ) 16,493 Pooled Trust Preferred Collateralized Debt Obligations 13,602 1,252 (722 ) 14,132 27,499 526 (4,379 ) 23,646 Total Debt Securities 827,518 4,474 (20,785 ) 811,207 739,176 4,854 (14,342 ) 729,688 Equities 1,670 — — 1,670 1,670 — — 1,670 Total Securities Available for Sale $ 829,188 $ 4,474 $ (20,785 ) $ 812,877 $ 740,846 $ 4,854 $ (14,342 ) $ 731,358 |
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 March 31, 2018 , by contractual maturity, are shown below. Amortized Estimated (dollars in thousands) Due within 1 year $ 5,099 $ 5,073 Due after 1 but within 5 years 15,727 15,541 Due after 5 but within 10 years 26,337 26,409 Due after 10 years 15,523 16,594 62,686 63,617 Mortgage-Backed Securities (a) 764,832 747,590 Total Debt Securities $ 827,518 $ 811,207 (a) Mortgage-Backed Securities include an amortized cost of $83.5 million and a fair value of $82.8 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 three months ended March 31 : 2018 2017 (dollars in thousands) Proceeds from sales $ — $ — Gross gains (losses) realized: Sales Transactions: Gross gains $ — $ — Gross losses — — — — Maturities and impairment Gross gains 2,840 652 Gross losses — — 2,840 652 Net gains and impairment $ 2,840 $ 652 |
Investment Securities Maturity
Investment Securities Maturity of Held-to-Maturity Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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: March 31, 2018 December 31, 2017 Amortized Gross Gross Estimated Amortized Gross Gross Estimated (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities – Residential $ 3,895 $ — $ (109 ) $ 3,786 $ 3,925 $ — $ (14 ) $ 3,911 Mortgage-Backed Securities- Commercial 57,762 — (2,224 ) 55,538 58,249 — (1,394 ) 56,855 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 294,205 — (7,645 ) 286,560 305,126 10 (2,552 ) 302,584 Mortgage-Backed Securities – Commercial 13,859 — (299 ) 13,560 14,056 — (71 ) 13,985 Obligations of States and Political Subdivisions 40,509 38 (660 ) 39,887 40,540 335 (161 ) 40,714 Debt Securities Issued by Foreign Governments 200 — (3 ) 197 200 — — 200 Total Securities Held to Maturity $ 410,430 $ 38 $ (10,940 ) $ 399,528 $ 422,096 $ 345 $ (4,192 ) $ 418,249 |
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 March 31, 2018 , 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 $ 87 $ 86 Due after 1 but within 5 years 3,646 3,626 Due after 5 but within 10 years 35,350 34,764 Due after 10 years 1,626 1,608 40,709 40,084 Mortgage-Backed Securities (a) 369,721 359,444 Total Debt Securities $ 410,430 $ 399,528 (a) Mortgage-Backed Securities include an amortized cost of $61.7 million and a fair value of $59.3 million for Obligations of U.S. Government agencies issued by Ginnie Mae and an amortized cost of $308.1 million and a fair value of $300.1 million for Obligations of U.S. Government-sponsored enterprises issued by Fannie Mae and Freddie Mac. |
Impairment of Investment Secu29
Impairment of Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 December 31, 2017 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 $ 5,584 $ (21 ) $ — $ — $ 5,584 $ (21 ) Mortgage-Backed Securities - Commercial 48,322 (962 ) 32,683 (894 ) 81,005 (1,856 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 351,222 (2,295 ) 400,984 (9,746 ) 752,206 (12,041 ) Mortgage-Backed Securities – Commercial 13,985 (71 ) — — 13,985 (71 ) Other Government-Sponsored Enterprises 997 (1 ) 99 — 1,096 (1 ) Obligation of States and Political Subdivisions 7,144 (32 ) 3,653 (129 ) 10,797 (161 ) Corporate Securities 3,993 (4 ) — — 3,993 (4 ) Pooled Trust Preferred Collateralized Debt Obligations — — 19,120 (4,379 ) 19,120 (4,379 ) Total Securities $ 431,247 $ (3,386 ) $ 456,539 $ (15,148 ) $ 887,786 $ (18,534 ) The following table presents the gross unrealized losses and estimated fair values at March 31, 2018 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 $ 7,923 $ (190 ) $ — $ — $ 7,923 $ (190 ) Mortgage-Backed Securities – Commercial 95,862 (2,120 ) 31,813 (1,356 ) 127,675 (3,476 ) Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities – Residential 500,625 (10,277 ) 378,709 (15,836 ) 879,334 (26,113 ) Mortgage-Backed Securities – Commercial 13,560 (299 ) — — 13,560 (299 ) Other Government-Sponsored Enterprises 999 (1 ) 99 (1 ) 1,098 (2 ) Obligations of States and Political Subdivisions 31,032 (413 ) 3,489 (293 ) 34,521 (706 ) Debt securities issued by foreign governments 197 (3 ) — — 197 (3 ) Corporate Securities 18,764 (214 ) — — 18,764 (214 ) Pooled Trust Preferred Collateralized Debt Obligations — — 6,362 (722 ) 6,362 (722 ) Total Securities $ 668,962 $ (13,517 ) $ 420,472 $ (18,208 ) $ 1,089,434 $ (31,725 ) |
Pooled Trust Preferred Collateralized Debt Obligations | The following table provides information related to our pooled trust preferred collateralized debt obligations as of March 31, 2018 : Deal Class Book Estimated Fair Unrealized Moody’s/ Number Deferrals Excess (dollars in thousands) Pre TSL IV Mezzanine $ 933 $ 738 $ (195 ) Ba1/BB 5 — % 113.79 % Pre TSL VIII Mezzanine 2,072 2,295 223 C/C 26 38.52 0.00 Pre TSL IX Mezzanine 2,457 3,000 543 B1/C 37 27.83 19.46 Pre TSL X Mezzanine 1,894 2,301 407 Caa1/C 41 26.29 1.73 Pre TSL XII Mezzanine 6,151 5,624 (527 ) B3/C 64 23.39 0.00 MMCap I Mezzanine 95 174 79 Ca/C 7 69.35 69.99 Total $ 13,602 $ 14,132 $ 530 |
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 March 31, 2018 2017 (dollars in thousands) Balance, beginning (a) $ 12,208 $ 17,056 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) (147 ) (228 ) Reduction for debt securities called during the period (2,302 ) — Balance, ending $ 9,759 $ 16,828 (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 Credi30
Loans and Allowance for Credit Losses (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Outstanding Balances of Loan | The following table provides outstanding balances related to each of our loan types: March 31, 2018 December 31, 2017 Originated Acquired Total Originated Acquired Total (dollars in thousands) Commercial, financial, agricultural and other $ 1,093,192 $ 38,402 $ 1,131,594 $ 1,122,741 $ 40,642 $ 1,163,383 Real estate construction 245,841 1,120 246,961 242,905 5,963 248,868 Residential real estate 1,220,989 213,634 1,434,623 1,206,119 220,251 1,426,370 Commercial real estate 1,901,609 125,463 2,027,072 1,892,185 126,911 2,019,096 Loans to individuals 535,484 5,571 541,055 543,411 6,248 549,659 Total loans $ 4,997,115 $ 384,190 $ 5,381,305 $ 5,007,361 $ 400,015 $ 5,407,376 |
Credit Risk Profile by Creditworthiness | The following tables represent our credit risk profile by creditworthiness: March 31, 2018 Commercial, financial, agricultural and other Real estate construction Residential real estate Commercial real estate Loans to individuals Total (dollars in thousands) Originated loans Pass $ 1,020,603 $ 245,841 $ 1,209,290 $ 1,871,008 $ 535,240 $ 4,881,982 Non-Pass OAEM 31,480 — 1,574 7,748 — 40,802 Substandard 34,140 — 10,125 22,853 244 67,362 Doubtful 6,969 — — — — 6,969 Total Non-Pass 72,589 — 11,699 30,601 244 115,133 Total $ 1,093,192 $ 245,841 $ 1,220,989 $ 1,901,609 $ 535,484 $ 4,997,115 Acquired loans Pass $ 32,439 $ 1,120 $ 211,361 $ 122,411 $ 5,554 $ 372,885 Non-Pass OAEM 5,486 — 745 1,251 — 7,482 Substandard 477 — 1,528 1,801 17 3,823 Doubtful — — — — — — Total Non-Pass 5,963 — 2,273 3,052 17 11,305 Total $ 38,402 $ 1,120 $ 213,634 $ 125,463 $ 5,571 $ 384,190 December 31, 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 $ 1,061,147 $ 242,905 $ 1,194,352 $ 1,855,253 $ 543,175 $ 4,896,832 Non-Pass OAEM 26,757 — 1,435 13,326 — 41,518 Substandard 30,431 — 10,332 23,606 236 64,605 Doubtful 4,406 — — — — 4,406 Total Non-Pass 61,594 — 11,767 36,932 236 110,529 Total $ 1,122,741 $ 242,905 $ 1,206,119 $ 1,892,185 $ 543,411 $ 5,007,361 Acquired loans Pass $ 34,573 $ 5,963 $ 217,824 $ 121,536 $ 6,231 $ 386,127 Non-Pass OAEM 5,567 — 798 3,517 — 9,882 Substandard 502 — 1,629 1,858 17 4,006 Doubtful — — — — — — Total Non-Pass 6,069 — 2,427 5,375 17 13,888 Total $ 40,642 $ 5,963 $ 220,251 $ 126,911 $ 6,248 $ 400,015 |
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 March 31, 2018 and December 31, 2017 . 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. March 31, 2018 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 2,163 $ 23 $ 168 $ 24,298 $ 26,652 $ 1,066,540 $ 1,093,192 Real estate construction — — — — — 245,841 245,841 Residential real estate 2,849 996 649 6,187 10,681 1,210,308 1,220,989 Commercial real estate 1,751 783 304 5,675 8,513 1,893,096 1,901,609 Loans to individuals 1,369 463 768 244 2,844 532,640 535,484 Total $ 8,132 $ 2,265 $ 1,889 $ 36,404 $ 48,690 $ 4,948,425 $ 4,997,115 Acquired loans Commercial, financial, agricultural and other $ 11 $ — $ 26 $ 411 $ 448 $ 37,954 $ 38,402 Real estate construction — — — — — 1,120 1,120 Residential real estate 119 110 21 718 968 212,666 213,634 Commercial real estate — — — 1,000 1,000 124,463 125,463 Loans to individuals 66 11 19 17 113 5,458 5,571 Total $ 196 $ 121 $ 66 $ 2,146 $ 2,529 $ 381,661 $ 384,190 December 31, 2017 30 - 59 60 - 89 90 days Nonaccrual Total past Current Total (dollars in thousands) Originated loans Commercial, financial, agricultural and other $ 378 $ 61 $ 40 $ 18,741 $ 19,220 $ 1,103,521 $ 1,122,741 Real estate construction 199 — — — 199 242,706 242,905 Residential real estate 4,618 1,025 1,076 6,225 12,944 1,193,175 1,206,119 Commercial real estate 2,198 28 6 3,240 5,472 1,886,713 1,892,185 Loans to individuals 1,899 769 623 236 3,527 539,884 543,411 Total $ 9,292 $ 1,883 $ 1,745 $ 28,442 $ 41,362 $ 4,965,999 $ 5,007,361 Acquired loans Commercial, financial, agricultural and other $ 6 $ 7 $ — $ 436 $ 449 $ 40,193 $ 40,642 Real estate construction — — — — — 5,963 5,963 Residential real estate 148 9 83 705 945 219,306 220,251 Commercial real estate — — — 1,077 1,077 125,834 126,911 Loans to individuals 36 20 26 17 99 6,149 6,248 Total $ 190 $ 36 $ 109 $ 2,235 $ 2,570 $ 397,445 $ 400,015 |
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 March 31, 2018 and December 31, 2017 . 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. March 31, 2018 December 31, 2017 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Originated loans: With no related allowance recorded: Commercial, financial, agricultural and other $ 4,791 $ 9,559 $ 5,548 $ 12,153 Real estate construction — — — — Residential real estate 10,129 12,000 10,625 12,470 Commercial real estate 4,624 5,038 5,155 5,489 Loans to individuals 339 379 347 383 Subtotal 19,883 26,976 21,675 30,495 With an allowance recorded: Commercial, financial, agricultural and other 28,615 28,795 $ 9,045 16,866 21,094 $ 3,478 Real estate construction — — — — — — Residential real estate 808 846 277 456 478 107 Commercial real estate 5,753 5,763 2,139 954 954 128 Loans to individuals — — — — — — Subtotal 35,176 35,404 11,461 18,276 22,526 3,713 Total $ 55,059 $ 62,380 $ 11,461 $ 39,951 $ 53,021 $ 3,713 March 31, 2018 December 31, 2017 Recorded Unpaid Related Recorded Unpaid Related (dollars in thousands) Acquired loans With no related allowance recorded: Commercial, financial, agricultural and other $ 411 $ 424 $ 436 $ 449 Real estate construction — — — — Residential real estate 677 1,003 666 965 Commercial real estate 891 1,811 940 1,842 Loans to individuals 17 17 17 17 Subtotal 1,996 3,255 2,059 3,273 With an allowance recorded: Commercial, financial, agricultural and other — — $ — — — $ — Real estate construction — — — — — — Residential real estate 93 122 10 93 122 4 Commercial real estate 109 124 2 137 150 29 Loans to individuals — — — — — — Subtotal 202 246 12 230 272 33 Total $ 2,198 $ 3,501 $ 12 $ 2,289 $ 3,545 $ 33 For the Three Months Ended March 31, 2018 2017 Originated Loans Acquired Loans Originated Loans Acquired Loans Average Interest Average Interest Average Interest Average Interest (dollars in thousands) With no related allowance recorded: Commercial, financial, agricultural and other $ 8,130 $ 10 $ 411 $ — $ 12,034 $ 38 $ — $ — Real estate construction — — — — — — — — Residential real estate 10,401 63 678 1 11,422 74 241 — Commercial real estate 5,510 31 907 — 5,949 54 162 — Loans to individuals 354 2 17 — 338 2 — — Subtotal 24,395 106 2,013 1 29,743 168 403 — With an allowance recorded: Commercial, financial, agricultural and other 17,720 66 — — 12,787 26 — — Real estate construction — — — — — — — — Residential real estate 706 — 93 — 334 1 65 — Commercial real estate 1,960 1 118 — 1,111 7 — — Loans to individuals — — — — — — — — Subtotal 20,386 67 211 — 14,232 34 65 — Total $ 44,781 $ 173 $ 2,224 $ 1 $ 43,975 $ 202 $ 468 $ — |
Troubled Debt Restructured Loans and Commitments | The following table provides detail as to the total troubled debt restructured loans and total commitments outstanding on troubled debt restructured loans: March 31, 2018 December 31, 2017 (dollars in thousands) Troubled debt restructured loans Accrual status $ 18,707 $ 11,563 Nonaccrual status 10,233 11,222 Total $ 28,940 $ 22,785 Commitments Letters of credit $ 60 $ 60 Unused lines of credit 1,778 54 Total $ 1,838 $ 114 The following tables provide detail, including specific reserves and reasons for modification, related to loans identified as troubled debt restructurings: For the Three Months Ended March 31, 2018 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 2 $ 4,709 $ — $ 162 $ 4,871 $ 3,942 $ 531 Residential real estate 11 20 75 346 441 404 17 Commercial real estate 1 3,017 — — 3,017 2,994 227 Loans to individuals 4 — 28 30 58 53 — Total 18 $ 7,746 $ 103 $ 538 $ 8,387 $ 7,393 $ 775 For the Three Months Ended March 31, 2017 Type of Modification Number Extend Modify Modify Total Post- Specific (dollars in thousands) Commercial, financial, agricultural and other 1 $ — $ 42 $ — $ 42 $ 38 $ — Residential real estate 7 129 101 306 536 504 — Commercial real estate 2 179 — 16 195 193 — Loans to individuals 3 — 14 30 44 43 — Total 13 $ 308 $ 157 $ 352 $ 817 $ 778 $ — |
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 loans that were restructured within the past twelve months and that were considered to be in default during the three months ended March 31 : 2018 2017 Number of Recorded Number of Recorded (dollars in thousands) Commercial, financial, agricultural and other 1 $ 940 — $ — Total 1 $ 940 — $ — |
Allowance for Credit Losses | he following tables provide detail related to the allowance for credit losses: For the Three Months Ended March 31, 2018 Commercial, Real estate Residential Commercial Loans to Total (dollars in thousands) Allowance for credit losses: Originated loans: Beginning balance $ 23,418 $ 1,349 $ 2,753 $ 17,328 $ 3,404 $ 48,252 Charge-offs (290 ) — (455 ) (168 ) (1,169 ) (2,082 ) Recoveries 256 1 75 69 195 596 Provision (credit) 4,148 (236 ) 768 1,265 986 6,931 Ending balance 27,532 1,114 3,141 18,494 3,416 53,697 Acquired loans: Beginning balance 11 — 6 29 — 46 Charge-offs — — (16 ) — (4 ) (20 ) Recoveries 7 — 6 17 — 7 37 Provision (credit) 2 (6 ) 6 (27 ) (3 ) (28 ) Ending balance 20 — 13 2 — 35 Total ending balance $ 27,552 $ 1,114 $ 3,154 $ 18,496 $ 3,416 $ 53,732 Ending balance: individually evaluated for impairment $ 9,045 $ — $ 287 $ 2,141 $ — $ 11,473 Ending balance: collectively evaluated for impairment 18,507 1,114 2,867 16,355 3,416 42,259 Loans: Ending balance 1,131,594 246,961 1,434,623 2,027,072 541,055 5,381,305 Ending balance: individually evaluated for impairment 33,278 — 6,853 10,360 — 50,491 Ending balance: collectively evaluated for impairment 1,098,316 246,961 1,427,770 2,016,712 541,055 5,330,814 For the Three Months Ended March 31, 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 (3,825 ) — (465 ) (31 ) (1,198 ) (5,519 ) Recoveries 368 54 122 117 128 789 Provision (credit) 2,184 (17 ) 265 (123 ) 900 3,209 Ending balance 34,701 614 2,414 6,582 4,334 48,645 Acquired loans: Beginning balance — — 19 — — 19 Charge-offs — — (8 ) — (7 ) (15 ) Recoveries — — — 6 — 1 7 Provision (credit) — — 14 — 6 20 Ending balance — — 31 — — 31 Total ending balance $ 34,701 $ 614 $ 2,445 $ 6,582 $ 4,334 $ 48,676 Ending balance: individually evaluated for impairment $ 2,466 $ — $ 175 $ 376 $ — $ 3,017 Ending balance: collectively evaluated for impairment 32,235 614 2,270 6,206 4,334 45,659 Loans: Ending balance 1,148,460 240,122 1,217,398 1,761,101 540,880 4,907,961 Ending balance: individually evaluated for impairment 26,260 — 6,287 5,819 — 38,366 Ending balance: collectively evaluated for impairment 1,122,200 240,122 1,211,111 1,755,282 540,880 4,869,595 |
Fair Values of Assets and Lia31
Fair Values of Assets and Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 $ 14,132 Discounted Cash Flow Probability of default 0% - 100% (7.42%) Prepayment rates 0% - 71.89% (8.73%) Discount rates 5% - 11.5% (a) Equities 1,670 Par Value N/A N/A Impaired Loans 1,290 (b) Reserve study Discount rate 10.00% Gas per MMBTU $2.81 - $3.35 (c) Oil per BBL/d $51.59 - $59.55 (c) 11,181 (b) Discounted Cash Flow Discount Rate 1.9% - 21.0% Limited Partnership Investments 2,292 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: March 31, 2018 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 10,665 $ — $ 10,665 Mortgage-Backed Securities - Commercial — 72,137 — 72,137 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 664,788 — 664,788 Other Government-Sponsored Enterprises — 1,098 — 1,098 Obligations of States and Political Subdivisions — 27,161 — 27,161 Corporate Securities — 21,226 — 21,226 Pooled Trust Preferred Collateralized Debt Obligations — — 14,132 14,132 Total Debt Securities — 797,075 14,132 811,207 Equities — — 1,670 1,670 Total Securities Available for Sale — 797,075 15,802 812,877 Other Investments — 24,400 — 24,400 Loans Held for Sale — 9,759 — 9,759 Other Assets(a) — 4,355 2,292 6,647 Total Assets $ — $ 835,589 $ 18,094 $ 853,683 Other Liabilities(a) $ — $ 4,879 $ — $ 4,879 Total Liabilities $ — $ 4,879 $ — $ 4,879 (a) Hedging and non-hedging interest rate derivatives and limited partnership investments December 31, 2017 Level 1 Level 2 Level 3 Total (dollars in thousands) Obligations of U.S. Government Agencies: Mortgage-Backed Securities - Residential $ — $ 11,338 $ — $ 11,338 Mortgage-Backed Securities - Commercial — 24,149 — 24,149 Obligations of U.S. Government-Sponsored Enterprises: Mortgage-Backed Securities - Residential — 625,555 — 625,555 Other Government-Sponsored Enterprises — 1,097 — 1,097 Obligations of States and Political Subdivisions — 27,410 — 27,410 Corporate Securities — 16,493 — 16,493 Pooled Trust Preferred Collateralized Debt Obligations — — 23,646 23,646 Total Debt Securities — 706,042 23,646 729,688 Equities — — 1,670 1,670 Total Securities Available for Sale — 706,042 25,316 731,358 Other Investments — 29,837 — 29,837 Loans Held for Sale — 14,850 — 14,850 Other Assets(a) — 1,778 2,143 3,921 Total Assets $ — $ 752,507 $ 27,459 $ 779,966 Other Liabilities(a) $ — $ 3,079 $ — $ 3,079 Total Liabilities $ — $ 3,079 $ — $ 3,079 (a) Hedging and non-hedging interest rate derivatives |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | For the three months ended March 31 , changes in Level 3 assets and liabilities measured at fair value on a recurring basis are summarized as follows: 2018 Pooled Trust Preferred Collateralized Debt Obligations Equities Other Total (dollars in thousands) Balance, beginning of period $ 23,646 $ 1,670 $ 2,143 $ 27,459 Total gains or losses Included in earnings 2,840 — — 2,840 Included in other comprehensive income 4,529 — — 4,529 Purchases, issuances, sales and settlements Purchases — — 149 149 Issuances — — — — Sales — — — — Settlements (16,883 ) — — (16,883 ) Transfers from Level 3 — — — — Transfers into Level 3 — — — — Balance, end of period $ 14,132 $ 1,670 $ 2,292 $ 18,094 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 497 — — 497 Purchases, issuances, sales and settlements Purchases — — 410 410 Issuances — — — — Sales — — — — Settlements (48 ) — — (48 ) Transfers from Level 3 — — — Transfers into Level 3 — — — — Balance, end of period $ 33,741 $ 1,670 $ 1,340 $ 36,751 During the three months ended March 31, 2018 and 2017 , there were no transfers between fair value Levels 1 , 2 or 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 March 31, 2018 and 2017 . |
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: March 31, 2018 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 26,546 $ 19,238 $ 45,784 Other real estate owned — 3,278 — 3,278 Total Assets $ — $ 29,824 $ 19,238 $ 49,062 December 31, 2017 Level 1 Level 2 Level 3 Total (dollars in thousands) Impaired loans $ — $ 23,249 $ 15,245 $ 38,494 Other real estate owned — 3,264 — 3,264 Total Assets $ — $ 26,513 $ 15,245 $ 41,758 |
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 March 31, 2018 2017 (dollars in thousands) Impaired loans $ (7,850 ) $ (1,460 ) Other real estate owned (30 ) (31 ) Total losses $ (7,880 ) $ (1,491 ) |
Carrying Amounts and Fair Values of Financial Instruments | The following table presents carrying amounts and fair values of First Commonwealth’s financial instruments: March 31, 2018 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 65,886 $ 65,886 $ 65,886 $ — $ — Interest-bearing deposits 9,736 9,736 9,736 — — Securities available for sale 812,877 812,877 — 797,075 15,802 Securities held to maturity 410,430 399,528 — 399,528 — Other investments 24,400 24,400 — 24,400 — Loans held for sale 9,759 9,759 — 9,759 — Loans 5,381,305 5,399,240 — 26,546 5,372,694 Financial liabilities Deposits 5,703,522 5,701,021 — 5,701,021 — Short-term borrowings 588,016 587,834 — 587,834 — Subordinated debt 72,167 70,114 — — 70,114 Long-term debt 8,011 8,237 — 8,237 — Capital lease obligation 7,498 7,498 — 7,498 — December 31, 2017 Fair Value Measurements Using: Carrying Total Level 1 Level 2 Level 3 (dollars in thousands) Financial assets Cash and due from banks $ 98,624 $ 98,624 $ 98,624 $ — $ — Interest-bearing deposits 8,668 8,668 8,668 — — Securities available for sale 731,358 731,358 — 706,042 25,316 Securities held to maturity 422,096 418,249 — 418,249 — Other investments 29,837 29,837 — 29,837 — Loans held for sale 14,850 14,850 — 14,850 — Loans 5,407,376 5,443,434 — 23,249 5,420,185 Financial liabilities Deposits 5,580,705 5,580,812 — 5,580,812 — Short-term borrowings 707,466 707,263 — 707,263 — Subordinated debt 72,167 65,785 — — 65,785 Long-term debt 8,161 8,548 — 8,548 — Capital Lease Obligation 7,590 7,590 — 7,590 — |
Derivatives (Tables)
Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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: March 31, 2018 December 31, 2017 (dollars in thousands) Derivatives not Designated as Hedging Instruments Credit value adjustment $ (2 ) $ (791 ) Notional amount: Interest rate derivatives 408,973 401,304 Interest rate caps 46,361 46,444 Risk participation agreements 189,491 197,660 Sold credit protection on risk participation agreements (63,345 ) (46,170 ) Derivatives Designated as Hedging Instruments Interest rate swaps: Fair value adjustment (590 ) 459 Notional amount 115,000 150,000 Interest rate forwards: Fair value adjustment 81 19 Notional amount 22,000 17,000 Foreign exchange forwards: Fair value adjustment (13 ) (70 ) Notional amount 7,858 10,077 |
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 March 31, 2018 2017 (dollars in thousands) Non-hedging interest rate derivatives Increase in other income $ 789 $ 2 Hedging interest rate derivatives (Decrease) increase in interest and fees on loans (81 ) 249 Increase in other expense — 78 Hedging interest rate forwards (Decrease) increase in other expense (62 ) 112 Hedging foreign exchange forwards (Decrease) increase in other expense (3 ) 2 |
Revenue Recognition Revenue Rec
Revenue Recognition Revenue Recogntion (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue Recognition [Abstract] | |
Revenue Recognition, Transition Adjustment [Table Text Block] | The impact on the condensed consolidated statements of income of adopting ASC 606 for period ending March 31 2018 is outlined below: For the Three Months Ended March 31, 2018 As Reported Under Legacy GAAP Impact of ASC 606 (dollars in thousands) Noninterest Income Net securities gains $ 2,840 $ 2,840 $ — Trust income 1,928 1,928 — Service charges on deposit accounts 4,406 4,406 — Insurance and retail brokerage commissions 1,868 2,248 (380 ) Income from bank owned life insurance 1,494 1,494 — Gain on sale of mortgage loans 1,484 1,484 — Gain on sale of other loans and assets 574 574 — Card-related interchange income 4,742 4,742 — Derivatives mark to market 789 789 — Swap fee income (expense) 290 290 — Other income 1,628 1,854 (226 ) Total noninterest income 22,043 22,649 (606 ) Noninterest Expense Salaries and employee benefits 24,873 25,253 (380 ) Net occupancy expense 4,369 4,369 — Furniture and equipment expense 3,540 3,540 — Data processing expense 2,433 2,509 (76 ) Advertising and promotion expense 809 809 — Pennsylvania shares tax expense 903 903 — Intangible amortization 784 784 — Collection and repossession expense 823 823 — Other professional fees and services 1,007 1,007 — FDIC insurance 776 776 — Loss on sale or write-down of assets 197 197 — Litigation and operational losses 179 179 — Merger and acquisition related 337 337 — Other operating expenses 5,843 5,993 (150 ) Total noninterest expense $ 46,873 $ 47,479 (606 ) Net Impact $ — |
Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606: For the Three Months Ended March 31, 2018 2017 (dollars in thousands) Noninterest Income In-scope of Topic 606: Trust income $ 1,928 $ 1,417 Service charges on deposit accounts 4,406 4,319 Insurance and retail brokerage commissions 1,868 2,082 Card-related interchange income 4,742 4,251 Gain on sale of other loans and assets 207 190 Other income 892 945 Noninterest Income (in-scope of Topic 606) 14,043 13,204 Noninterest Income (out-of-scope of Topic 606) 8,000 3,728 Total Noninterest Income $ 22,043 $ 16,932 |
Supplemental Comprehensive In34
Supplemental Comprehensive Income Disclosures (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Supplemental Comprehensive Income Disclosures [Abstract] | ||
Unrealized holding gains on securities arising during the period | $ (3,982) | $ 2,543 |
Reclassification adjustment for gains on securities included in net income | (2,840) | (652) |
Total unrealized gains on securities | (6,822) | 1,891 |
Unrealized holding losses on derivatives arising during the period | (130) | (516) |
Unrealized holding gains on securities arising during the period | 837 | (890) |
Reclassification adjustment for gains on derivatives included in net income, before Tax | 0 | 78 |
Total unrealized gain on derivatives | (130) | (438) |
Reclassification adjustment for gains on securities included in net income | 596 | 228 |
Total other comprehensive (loss) income | (6,952) | 1,453 |
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax | 1,433 | (662) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 27 | 181 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | 0 | (28) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax, Total | 27 | 153 |
Other Comprehensive Income (Loss), Tax | 1,460 | (509) |
Other comprehensive income (loss) before reclassification adjustment | (3,145) | 1,653 |
Total unrealized (losses) gains on securities | (5,389) | 1,229 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (103) | (335) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | (50) |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Total | (103) | (285) |
Total other comprehensive (loss) income | (5,492) | 944 |
Reclassification adjustment for gains on securities included in net income | $ 2,244 | $ 424 |
Supplemental Comprehensive In35
Supplemental Comprehensive Income Disclosures (Details 2) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | $ (6,173) | |||
Other comprehensive income (loss) before reclassification adjustment | (3,145) | $ 1,653 | ||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (103) | (335) | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 0 | (50) | ||
Total other comprehensive (loss) income | (5,492) | 944 | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | (13,009) | |||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (7,510) | (7,455) | ||
Other comprehensive income (loss) before reclassification adjustment | (3,145) | 1,653 | ||
Amounts reclassified from accumulated other comprehensive income (loss) | (2,244) | (424) | ||
Total other comprehensive (loss) income | (5,389) | 1,229 | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | (12,899) | (6,226) | ||
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 299 | 225 | ||
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 | 299 | 225 | ||
Derivative [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (306) | 203 | ||
Total other comprehensive (loss) income | (103) | (285) | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | (409) | (82) | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (7,517) | (7,027) | ||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (3,248) | 1,318 | ||
Amounts reclassified from accumulated other comprehensive income (loss) | (2,244) | (374) | ||
Total other comprehensive (loss) income | (5,492) | 944 | ||
Accumulated Other Comprehensive Income (Loss), Ending Balance | (13,009) | (6,083) | ||
Scenario, Previously Reported [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (6,166) | (7,455) | ||
Scenario, Previously Reported [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | 299 | 225 | ||
Scenario, Previously Reported [Member] | Derivative [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | (306) | 203 | ||
Scenario, Previously Reported [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Accumulated Other Comprehensive Income (Loss), Beginning Balance | $ (6,173) | $ (7,027) | ||
Effect of ASU Adoption [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 0 | $ 0 | ||
Effect of ASU Adoption [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | (1,344) | 0 | ||
Effect of ASU Adoption [Member] | Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | 0 | ||
Effect of ASU Adoption [Member] | Derivative [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 0 | |||
Effect of ASU Adoption [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ (1,344) | $ 0 |
Supplemental Cash Flow Disclo36
Supplemental Cash Flow Disclosures - Non-cash Investing and Financing Activities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash paid during the period for: | ||
Interest | $ 7,072 | $ 3,832 |
Income Taxes Paid, Net | 28 | 1,039 |
Non-cash investing and financing activities: | ||
Loans Transferred to Other Real Estate Owned and Repossessions | 1,186 | 958 |
Fair value of loans transferred from held to maturity to held for sale | 8,019 | 3,613 |
Gross (decrease) increase in market value adjustment to securities available for sale | (6,822) | 1,892 |
Gross decrease in market value adjustment to derivatives | (131) | (438) |
Investments committed to purchase not settled | 0 | 498 |
Unsettled Bank Owned Life Insurance Proceeds | 2,306 | 0 |
Other operating expenses | 5,843 | 4,980 |
Stock Issued During Period, Value, Treasury Stock Reissued | $ 2,257 | $ 2,258 |
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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share [Abstract] | ||
Weighted Average Number of Shares Issued, Basic | 113,914,902 | 105,563,455 |
Average treasury shares (in shares) | (16,369,144) | (16,527,204) |
Weighted Average Number of Shares, Deferred Compensation Plans | (37,411) | 0 |
Average unearned nonvested shares | (75,210) | (106,359) |
Weighted average common shares and common stock equivalents used to calculate basic earnings per share (in shares) | 97,433,137 | 88,929,892 |
Additional common stock equivalents (nonvested stock) used to calculate diluted earnings per share | 130,614 | 57,779 |
Weighted Average Number Of Additional Shares Deferred Compensation Plan | 37,411 | 0 |
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share (in shares) | 97,601,162 | 88,987,671 |
Earnings per Share - Common Sto
Earnings per Share - Common Stock Equivalents Not Included in Computation of Diluted Earnings Per Share (Detail) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
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) | 37,298 | 13,750 |
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) | 43,067 | 24,375 |
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 | $ 9.84 | $ 13.96 |
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 | 13.25 | 15.09 |
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 | 14.49 | 13.96 |
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 | $ 15.83 | $ 15.09 |
Commitments and Contingent Li39
Commitments and Contingent Liabilities - Notional Amount of Outstanding Commitments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Commitments to extend credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | $ 1,782,701 | $ 1,840,180 |
Financial standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | 17,636 | 17,946 |
Performance standby letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | 21,328 | 20,472 |
Commercial letters of credit [Member] | ||
Loss Contingencies [Line Items] | ||
Financial instrument of credit risk | $ 1,055 | $ 1,149 |
Commitments and Contingent Li40
Commitments and Contingent Liabilities - Additional Information (Detail) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Loss Contingencies [Line Items] | ||
Notional Amount Of Performance Standby Letters Of Credit | $ 400,000 | |
Notional Amount Of Commercial Letters Of Credit | 0 | |
Notional Amount Of Financial Standby Letters Of Credit | 0 | |
Financial instrument of credit risk | 200,000 | $ 200,000 |
Unfunded commitment liability | 5,200,000 | |
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 | $ 1,000,000 |
Investment Securities - Analysi
Investment Securities - Analysis of Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Investment Securities [Line Items] | |||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $ 5,099 | ||
Amortized Cost | 829,188 | $ 740,846 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 4,474 | 4,854 | |
Gross Unrealized Losses | (20,785) | (14,342) | |
Securities available for sale, at fair value | 812,877 | 731,358 | |
Due within one year, Estimated Fair Value | 5,073 | ||
Due after one but within five years, Amortized Cost | 15,727 | ||
Due after one but within five years, Estimated Fair Value | 15,541 | ||
Due after five but within ten years, Amortized Cost | 26,337 | ||
Due after five but within ten years, Estimated Fair Value | 26,409 | ||
Due after ten years, Amortized Cost | 15,523 | ||
Due after ten years, Estimated Fair Value | 16,594 | ||
Due within one year, Amortized Cost | 62,686 | ||
Available-for-sale Securities, Debt Maturities, Single Maturity Date | 63,617 | ||
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | [1] | 764,832 | |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | [1] | 747,590 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 83,500 | ||
Securities available for sale, at fair value | 82,800 | ||
Residential Mortgage Backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 664,788 | 625,555 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 1,098 | 1,097 | |
Obligations of States and Political Subdivisions [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 27,161 | 27,410 | |
Corporate Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 21,226 | 16,493 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Investment Securities [Line Items] | |||
Securities available for sale, at fair value | 14,132 | 23,646 | |
Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 827,518 | ||
Securities available for sale, at fair value | 811,207 | ||
US Government Agency Debt Securities Commercial [Domain] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 73,389 | 24,611 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Gross Unrealized Losses | (1,252) | (462) | |
Securities available for sale, at fair value | 72,137 | 24,149 | |
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 | 827,518 | 739,176 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 4,474 | 4,854 | |
Gross Unrealized Losses | (20,785) | (14,342) | |
Securities available for sale, at fair value | 811,207 | 729,688 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 13,602 | 27,499 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 1,252 | 526 | |
Gross Unrealized Losses | (722) | (4,379) | |
Securities available for sale, at fair value | 14,132 | 23,646 | |
Corporate Debt Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 20,898 | 15,907 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 542 | 590 | |
Gross Unrealized Losses | (214) | (4) | |
Securities available for sale, at fair value | 21,226 | 16,493 | |
Obligations of States and Political Subdivisions [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 27,086 | 27,083 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 121 | 327 | |
Gross Unrealized Losses | (46) | 0 | |
Securities available for sale, at fair value | 27,161 | 27,410 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 1,100 | 1,098 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | |
Gross Unrealized Losses | (2) | (1) | |
Securities available for sale, at fair value | 1,098 | 1,097 | |
Residential Mortgage Backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 681,343 | 632,422 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 1,913 | 2,622 | |
Gross Unrealized Losses | (18,468) | (9,489) | |
Securities available for sale, at fair value | 664,788 | 625,555 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | |||
Investment Securities [Line Items] | |||
Amortized Cost | 10,100 | 10,556 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 646 | 789 | |
Gross Unrealized Losses | (81) | (7) | |
Securities available for sale, at fair value | $ 10,665 | $ 11,338 | |
[1] | Mortgage-Backed Securities include an amortized cost of $83.5 million and a fair value of $82.8 million for Obligations of U.S. |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | |
Net Investment Income [Line Items] | |||
Available-for-sale Securities, Debt Maturities, Single Maturity Date | $ 63,617 | ||
Due after five but within ten years, Amortized Cost | 26,337 | ||
Due after one but within five years, Amortized Cost | 15,727 | ||
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | [1] | 764,832 | |
Due within one year, Amortized Cost | 62,686 | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | 5,099 | ||
Due after ten years, Amortized Cost | 15,523 | ||
Corporate/Mortgage-Backed Securities, Amortized cost | [1] | 747,590 | |
Amortized Cost | 829,188 | $ 740,846 | |
Due within one year, Estimated Fair Value | 5,073 | ||
Due after one but within five years, Estimated Fair Value | 15,541 | ||
Due after five but within ten years, Estimated Fair Value | 26,409 | ||
Due after ten years, Estimated Fair Value | 16,594 | ||
Total Debt Securities, Estimated Fair Value | 812,877 | 731,358 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 4,474 | 4,854 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 20,785 | 14,342 | |
Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 827,518 | 739,176 | |
Total Debt Securities, Estimated Fair Value | 811,207 | 729,688 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 4,474 | 4,854 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 20,785 | 14,342 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 681,300 | ||
Total Debt Securities, Estimated Fair Value | 664,800 | ||
Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 827,518 | ||
Total Debt Securities, Estimated Fair Value | 811,207 | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 14,132 | 23,646 | |
Corporate Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 21,226 | 16,493 | |
Obligations of States and Political Subdivisions [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 27,161 | 27,410 | |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 1,098 | 1,097 | |
Residential Mortgage Backed Securities [Member] | |||
Net Investment Income [Line Items] | |||
Total Debt Securities, Estimated Fair Value | 664,788 | $ 625,555 | |
US Government Agencies Debt Securities [Member] | |||
Net Investment Income [Line Items] | |||
Amortized Cost | 83,500 | ||
Total Debt Securities, Estimated Fair Value | $ 82,800 | ||
[1] | Mortgage-Backed Securities include an amortized cost of $83.5 million and a fair value of $82.8 million for Obligations of U.S. |
Investment Securities - Amort43
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Securities Available for Sale (Detail) (1) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Investment Securities [Line Items] | ||
Amortized Cost | $ 829,188 | $ 740,846 |
Securities available for sale, at fair value | 812,877 | 731,358 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 4,474 | 4,854 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 20,785 | 14,342 |
Obligations of U.S. Government-Sponsored Enterprises - Other Government-Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 1,100 | 1,098 |
Securities available for sale, at fair value | 1,098 | 1,097 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Loss, before Tax | 2 | $ 1 |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 83,500 | |
Securities available for sale, at fair value | 82,800 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 681,300 | |
Securities available for sale, at fair value | 664,800 | |
Debt Securities [Member] | ||
Investment Securities [Line Items] | ||
Amortized Cost | 827,518 | |
Securities available for sale, at fair value | $ 811,207 |
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | ||
Proceeds from Sale of Available-for-sale Securities | $ 0 | $ 0 |
Sales Transactions: | ||
Gross gains | 0 | 0 |
Gross losses | 0 | 0 |
Available-for-sale Securities, Gross Realized Gain (Loss), Excluding Other than Temporary Impairments | 0 | 0 |
Maturities and impairment | ||
Gross Gains | 2,840 | 652 |
Gross Losses | 0 | 0 |
Gain Losses Maturities And Impairment | 2,840 | 652 |
Net gains and impairment | $ 2,840 | $ 652 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |||
Gross Losses | $ 0 | $ 0 | |
Gross Gains | 2,840 | 652 | |
Held-to-maturity Securities Pledged as Collateral | 369,400 | $ 338,300 | |
Proceeds from Sale of Available-for-sale Securities | 0 | $ 0 | |
Available-for-sale securities pledged as collateral | $ 609,900 | $ 569,000 |
Investment Securities Schedule
Investment Securities Schedule of Held-to-Maturity Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Due within 1 year | $ 87 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 86 | |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 38 | $ 345 |
Held-to-maturity Securities | 410,430 | 422,096 |
Securities held to maturity, fair value | 399,528 | $ 418,249 |
Due after 1 but within 5 years | 3,646 | |
Due after 5 but within 10 years | 35,350 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 34,764 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 3,626 | |
Due after 10 years | 1,626 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 1,608 | |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis | 40,709 | |
Held-to-maturity Securities, Debt Maturities, Single Maturity Date, Fair Value | 40,084 | |
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Net Carrying Amount | 369,721 | |
Held-to-maturity Securities, Debt Maturities, without Single Maturity Date, Fair Value | 359,444 | |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 61,700 | |
Securities held to maturity, fair value | 59,300 | |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 308,100 | |
Securities held to maturity, fair value | $ 300,100 |
Investment Securities Held to M
Investment Securities Held to Maturity Securities by Type (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | $ 410,430 | $ 422,096 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 38 | 345 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (10,940) | (4,192) |
Securities held to maturity, fair value | 399,528 | 418,249 |
US Government Agencies Residential Mortgage-backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 3,895 | 3,925 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (109) | (14) |
Securities held to maturity, fair value | 3,786 | 3,911 |
US Government Agency Debt Securities Commercial [Domain] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 57,762 | 58,249 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (2,224) | (1,394) |
Securities held to maturity, fair value | 55,538 | 56,855 |
Residential Mortgage Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 294,205 | 305,126 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 10 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (7,645) | (2,552) |
Securities held to maturity, fair value | 286,560 | 302,584 |
Obligations of U.S. Government-Sponsored Enterprises - Mortgage-Backed Securities - Commercial [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 13,859 | 14,056 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (299) | (71) |
Securities held to maturity, fair value | 13,560 | 13,985 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 40,509 | 40,540 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 38 | 335 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (660) | (161) |
Securities held to maturity, fair value | 39,887 | 40,714 |
Foreign Government Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities | 200 | 200 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Gain | 0 | 0 |
Held-to-maturity Securities, Accumulated Unrecognized Holding Loss | (3) | 0 |
Securities held to maturity, fair value | $ 197 | $ 200 |
Other Investments - Additional
Other Investments - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Other Investments Disclosure [Abstract] | ||
Other investments | $ 24,400 | $ 29,837 |
Impairment of Investment Secu49
Impairment of Investment Securities - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2018USD ($)BankSecurity | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Other than temporary impairment charges recognized | $ 0 | $ 0 | |
Amortized Cost | 829,188,000 | $ 740,846,000 | |
Securities available for sale, at fair value | 812,877,000 | 731,358,000 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 31,725,000 | 18,534,000 | |
Number of banks and other financial institutions comprising the security | Bank | 164 | ||
Number Of Pooled Securities with No Senior Class | Security | 2 | ||
Number of securities with no excess subordination | Security | 2 | ||
Number of Securities with Excess Subordination | Security | 4 | ||
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 | $ 24,400,000 | 29,837,000 | |
Investment Securities in Unrealized Loss Position, Qualitative Disclosure, Number of Positions, Total | 155 | ||
Minimum [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Subordinated tranches range | 7.00% | ||
Total principal amount of the respective securities | 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 | 19.00% | ||
Maximum [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Subordinated tranches range | 35.00% | ||
Excess subordination as a percentage of current performing collateral | 114.00% | ||
Probabilities for performing collateral range | 50.00% | ||
Excess present value of future cash flows over our current book value | 101.00% | ||
Pooled Trust Preferred Collateralized Debt Obligations [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Percent of Unrealized Losses | 2.00% | ||
Securities available for sale, at fair value | $ 14,132,000 | 23,646,000 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | 722,000 | 4,379,000 | |
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% | ||
Corporate Debt Securities [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Securities available for sale, at fair value | $ 21,226,000 | 16,493,000 | |
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 | |
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 | ||
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 | ||
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 | ||
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 | ||
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 | 83.00% | ||
Reported Value Measurement [Member] | |||
Schedule of Trading Securities and Other Trading Assets [Line Items] | |||
Securities available for sale, at fair value | $ 812,877,000 | $ 731,358,000 | |
Federal Home Loan Bank Stock | $ 24,400,000 |
Impairment of Investment Secu50
Impairment of Investment Securities - Schedule of Unrealized Losses and Estimated Fair Values (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 668,962 | $ 431,247 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (13,517) | (3,386) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 420,472 | 456,539 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (18,208) | (15,148) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 1,089,434 | 887,786 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (31,725) | (18,534) |
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 | 7,923 | 5,584 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (190) | (21) |
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 | 7,923 | 5,584 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (190) | (21) |
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 | 95,862 | 48,322 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2,120) | (962) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 31,813 | 32,683 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,356) | (894) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 127,675 | 81,005 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3,476) | (1,856) |
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 | 500,625 | 351,222 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (10,277) | (2,295) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 378,709 | 400,984 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (15,836) | (9,746) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 879,334 | 752,206 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (26,113) | (12,041) |
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 | 13,560 | 13,985 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (299) | (71) |
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 | 13,560 | 13,985 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (299) | (71) |
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 | 999 | 997 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | (1) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 99 | 99 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | 0 |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 1,098 | 1,096 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (2) | (1) |
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 | 31,032 | 7,144 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (413) | (32) |
Investment Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,489 | 3,653 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (293) | (129) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 34,521 | 10,797 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (706) | (161) |
Foreign Government Debt Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 197 | |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (3) | |
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 | 197 | |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | (3) | |
Corporate Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Investment Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 18,764 | 3,993 |
Investment Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (214) | (4) |
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 | 18,764 | 3,993 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (214) | (4) |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Percent of Unrealized Losses | 2.00% | |
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 | 6,362 | 19,120 |
Investment Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (722) | (4,379) |
Investment Securities, Continuous Unrealized Loss Position, Fair Value, Total | 6,362 | 19,120 |
Investment Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (722) | $ (4,379) |
Impairment of Investment Secu51
Impairment of Investment Securities - Pooled Trust Preferred Collateralized Debt Obligations (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)Bank | Dec. 31, 2017USD ($) | |
Impairment Of Investment Securities [Line Items] | ||
Securities available for sale, at fair value | $ 812,877 | $ 731,358 |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 4,474 | 4,854 |
Unrealized Gain (Loss) | 20,785 | $ 14,342 |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | 13,602 | |
Securities available for sale, at fair value | 14,132 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | 530 | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL IV [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | 933 | |
Securities available for sale, at fair value | 738 | |
Unrealized Gain (Loss) | $ 195 | |
Debt Instrument, Credit Rating | Ba1/BB | |
Number of Banks (in banks) | Bank | 5 | |
Deferrals and Defaults as a % of Current Collateral | 0.00% | |
Excess Subordination as a % of Current Performing Collateral | 113.79% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL VIII [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 2,072 | |
Securities available for sale, at fair value | 2,295 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | $ 223 | |
Debt Instrument, Credit Rating | C/C | |
Number of Banks (in banks) | Bank | 26 | |
Deferrals and Defaults as a % of Current Collateral | 38.52% | |
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 | $ 2,457 | |
Securities available for sale, at fair value | 3,000 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | $ 543 | |
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 | 19.46% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL X [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 1,894 | |
Securities available for sale, at fair value | 2,301 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | $ 407 | |
Debt Instrument, Credit Rating | Caa1/C | |
Number of Banks (in banks) | Bank | 41 | |
Deferrals and Defaults as a % of Current Collateral | 26.29% | |
Excess Subordination as a % of Current Performing Collateral | 1.73% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | Pre TSL XII [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 6,151 | |
Securities available for sale, at fair value | 5,624 | |
Unrealized Gain (Loss) | $ 527 | |
Debt Instrument, Credit Rating | B3/C | |
Number of Banks (in banks) | Bank | 64 | |
Deferrals and Defaults as a % of Current Collateral | 23.39% | |
Excess Subordination as a % of Current Performing Collateral | 0.00% | |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | Mezzanine [Member] | MMCap I [Member] | ||
Impairment Of Investment Securities [Line Items] | ||
Book Value | $ 95 | |
Securities available for sale, at fair value | 174 | |
Available-for-sale Debt Securities, Accumulated Gross Unrealized Gain, before Tax | $ 79 | |
Debt Instrument, Credit Rating | Ca/C | |
Number of Banks (in banks) | Bank | 7 | |
Deferrals and Defaults as a % of Current Collateral | 69.35% | |
Excess Subordination as a % of Current Performing Collateral | 69.99% |
Impairment of Investment Secu52
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 | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Impairment of Investment Securities Disclosure [Abstract] | |||
Balance, beginning (a) | [1] | $ 12,208 | $ 17,056 |
Credit losses on debt securities for which other-than-temporary impairment was not previously recognized | 0 | 0 | |
Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized | 0 | 0 | |
Balance, ending | 9,759 | 16,828 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Cash Flows | (2,302) | 0 | |
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Period Increase (Decrease) | $ 147 | $ 228 | |
[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 Credi53
Loans and Allowance for Credit Losses - Outstanding Balances of Loan (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 5,381,305 | $ 5,407,376 | $ 4,907,961 |
Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,163,383 | ||
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 248,868 | ||
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,426,370 | ||
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 2,019,096 | ||
Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 549,659 | ||
Originated Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 4,997,115 | 5,007,361 | |
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 | 1,093,192 | 1,122,741 | |
Originated Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 245,841 | 242,905 | |
Originated Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,220,989 | 1,206,119 | |
Originated Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,901,609 | 1,892,185 | |
Originated Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 535,484 | 543,411 | |
Acquired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 384,190 | 400,015 | |
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 | 38,402 | 40,642 | |
Acquired Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 1,120 | 5,963 | |
Acquired Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 213,634 | 220,251 | |
Acquired Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | 125,463 | 126,911 | |
Acquired Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans and Leases Receivable, Net of Deferred Income | $ 5,571 | $ 6,248 |
Loans and Allowance for Credi54
Loans and Allowance for Credit Losses - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
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 | $ 4,200,000 | $ 2,400,000 | |
Off balance sheet reserve to nonperforming loans | 400,000 | 200,000 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Sales | 0 | $ 0 | |
Total gains or losses included in earnings | $ 2,840,000 | 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 | 200,000 | |
Nonaccrual Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans Held for sale, Amount | 0 | $ 0 | |
Loans and Leases Receivable, Gain (Loss) on Sales, Net | $ 0 | $ 0 |
Loans and Allowance for Credi55
Loans and Allowance for Credit Losses - Credit Risk Profile by Creditworthiness (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | $ 4,997,115 | $ 5,007,361 |
Originated Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 4,881,982 | 4,896,832 |
Originated Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 40,802 | 41,518 |
Originated Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 67,362 | 64,605 |
Originated Loans [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,969 | 4,406 |
Originated Loans [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 115,133 | 110,529 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,093,192 | 1,122,741 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,020,603 | 1,061,147 |
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 | 31,480 | 26,757 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 34,140 | 30,431 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Doubtful [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 6,969 | 4,406 |
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | Criticized [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 72,589 | 61,594 |
Originated Loans [Member] | Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 245,841 | 242,905 |
Originated Loans [Member] | Real estate construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 245,841 | 242,905 |
Originated Loans [Member] | Real estate construction [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
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 | 0 |
Originated Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,220,989 | 1,206,119 |
Originated Loans [Member] | Residential real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,209,290 | 1,194,352 |
Originated Loans [Member] | Residential real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,574 | 1,435 |
Originated Loans [Member] | Residential real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 10,125 | 10,332 |
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 | 11,699 | 11,767 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,901,609 | 1,892,185 |
Originated Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,871,008 | 1,855,253 |
Originated Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 7,748 | 13,326 |
Originated Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 22,853 | 23,606 |
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 | 30,601 | 36,932 |
Originated Loans [Member] | Loans to individuals [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 535,484 | 543,411 |
Originated Loans [Member] | Loans to individuals [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 535,240 | 543,175 |
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 | 244 | 236 |
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 | 244 | 236 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 384,190 | 400,015 |
Acquired Loans [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 372,885 | 386,127 |
Acquired Loans [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 7,482 | 9,882 |
Acquired Loans [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 3,823 | 4,006 |
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 | 11,305 | 13,888 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 38,402 | 40,642 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 32,439 | 34,573 |
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 | 5,486 | 5,567 |
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 477 | 502 |
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 | 5,963 | 6,069 |
Acquired Loans [Member] | Real estate construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,120 | 5,963 |
Acquired Loans [Member] | Real estate construction [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,120 | 5,963 |
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 | 213,634 | 220,251 |
Acquired Loans [Member] | Residential real estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 211,361 | 217,824 |
Acquired Loans [Member] | Residential real estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 745 | 798 |
Acquired Loans [Member] | Residential real estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,528 | 1,629 |
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 | 2,273 | 2,427 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 125,463 | 126,911 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 122,411 | 121,536 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,251 | 3,517 |
Acquired Loans [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 1,801 | 1,858 |
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 | 3,052 | 5,375 |
Acquired Loans [Member] | Loans to individuals [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 5,571 | 6,248 |
Acquired Loans [Member] | Loans to individuals [Member] | Pass [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases Receivable, Gross | 5,554 | 6,231 |
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 | 17 | 17 |
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 | $ 17 | $ 17 |
Loans and Allowance for Credi56
Loans and Allowance for Credit Losses - Age Analysis of Past Due Loans by Segment (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | $ 5,381,305 | $ 5,407,376 | $ 4,907,961 |
Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,131,594 | 1,148,460 | |
Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 246,961 | 240,122 | |
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 1,434,623 | 1,217,398 | |
Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 2,027,072 | 1,761,101 | |
Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total | 541,055 | $ 540,880 | |
Acquired Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 2,529 | 2,570 | |
Financing Receivable, Recorded Investment, Current | 381,661 | 397,445 | |
Total | 384,190 | 400,015 | |
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 | 448 | 449 | |
Financing Receivable, Recorded Investment, Current | 37,954 | 40,193 | |
Total | 38,402 | 40,642 | |
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 | 1,120 | 5,963 | |
Total | 1,120 | 5,963 | |
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 | 968 | 945 | |
Financing Receivable, Recorded Investment, Current | 212,666 | 219,306 | |
Total | 213,634 | 220,251 | |
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 | 1,000 | 1,077 | |
Financing Receivable, Recorded Investment, Current | 124,463 | 125,834 | |
Total | 125,463 | 126,911 | |
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 | 113 | 99 | |
Financing Receivable, Recorded Investment, Current | 5,458 | 6,149 | |
Total | 5,571 | 6,248 | |
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 | 196 | 190 | |
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 | 11 | 6 | |
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 | 119 | 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 | 66 | 36 | |
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 | 121 | 36 | |
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 | 7 | |
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 | 110 | 9 | |
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 | 11 | 20 | |
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 | 66 | 109 | |
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 | 26 | 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 | 21 | 83 | |
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 | 19 | 26 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 2,146 | 2,235 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 411 | 436 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 718 | 705 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 1,000 | 1,077 | |
Acquired Loans [Member] | Non Accrual Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 17 | 17 | |
Originated Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Financing Receivable Recorded Investment Equal To Or Greater Than Thirty Days Past Due | 48,690 | 41,362 | |
Financing Receivable, Recorded Investment, Current | 4,948,425 | 4,965,999 | |
Total | 4,997,115 | 5,007,361 | |
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 | 26,652 | 19,220 | |
Financing Receivable, Recorded Investment, Current | 1,066,540 | 1,103,521 | |
Total | 1,093,192 | 1,122,741 | |
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 | 199 | |
Financing Receivable, Recorded Investment, Current | 245,841 | 242,706 | |
Total | 245,841 | 242,905 | |
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 | 10,681 | 12,944 | |
Financing Receivable, Recorded Investment, Current | 1,210,308 | 1,193,175 | |
Total | 1,220,989 | 1,206,119 | |
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 | 8,513 | 5,472 | |
Financing Receivable, Recorded Investment, Current | 1,893,096 | 1,886,713 | |
Total | 1,901,609 | 1,892,185 | |
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 | 2,844 | 3,527 | |
Financing Receivable, Recorded Investment, Current | 532,640 | 539,884 | |
Total | 535,484 | 543,411 | |
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 | 8,132 | 9,292 | |
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 | 2,163 | 378 | |
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 | 199 | |
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 | 2,849 | 4,618 | |
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 | 1,751 | 2,198 | |
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 | 1,369 | 1,899 | |
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 | 2,265 | 1,883 | |
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 | 23 | 61 | |
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 | 996 | 1,025 | |
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 | 783 | 28 | |
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 | 463 | 769 | |
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 | 1,889 | 1,745 | |
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 | 168 | 40 | |
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 | 649 | 1,076 | |
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 | 304 | 6 | |
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 | 768 | 623 | |
Originated Loans [Member] | Non Accrual Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 36,404 | 28,442 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Commercial, financial, agricultural and other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 24,298 | 18,741 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Real estate construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 0 | 0 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 6,187 | 6,225 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Commercial Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | 5,675 | 3,240 | |
Originated Loans [Member] | Non Accrual Loans [Member] | Loans to individuals [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total past due and nonaccrual | $ 244 | $ 236 |
Loans and Allowance for Credi57
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 | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Acquired Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | $ 2,224 | $ 468 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 0 | |
Related allowance | 12 | $ 33 | |
Recorded investment | 2,198 | 2,289 | |
Unpaid principal balance | 3,501 | 3,545 | |
Acquired Loans [Member] | Commercial Loan [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 | |
Recorded investment | 0 | 0 | |
Unpaid principal balance | 0 | 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 | 411 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |
Recorded investment | 411 | 436 | |
Unpaid principal balance | 424 | 449 | |
Acquired Loans [Member] | Real Estate Construction 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 | |
Unpaid principal balance | 0 | 0 | |
Acquired Loans [Member] | Residential Real Estate With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 678 | 241 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 0 | |
Recorded investment | 677 | 666 | |
Unpaid principal balance | 1,003 | 965 | |
Acquired Loans [Member] | Commercial Real Estate With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 907 | 162 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |
Recorded investment | 891 | 940 | |
Unpaid principal balance | 1,811 | 1,842 | |
Acquired Loans [Member] | Loans To Individuals With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 17 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |
Recorded investment | 17 | 17 | |
Unpaid principal balance | 17 | 17 | |
Acquired Loans [Member] | With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 2,013 | 403 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 0 | |
Recorded investment | 1,996 | 2,059 | |
Unpaid principal balance | 3,255 | 3,273 | |
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 | |
Recorded investment | 0 | 0 | |
Unpaid principal balance | 0 | 0 | |
Acquired Loans [Member] | Residential Real Estate With Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 93 | 65 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |
Related allowance | 10 | 4 | |
Recorded investment | 93 | 93 | |
Unpaid principal balance | 122 | 122 | |
Acquired Loans [Member] | Commercial Real Estate With Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 118 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |
Related allowance | 2 | 29 | |
Recorded investment | 109 | 137 | |
Unpaid principal balance | 124 | 150 | |
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 | |
Recorded investment | 0 | 0 | |
Unpaid principal balance | 0 | 0 | |
Acquired Loans [Member] | With Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 211 | 65 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | |
Related allowance | 12 | 33 | |
Recorded investment | 202 | 230 | |
Unpaid principal balance | 246 | 272 | |
Originated Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 44,781 | 43,975 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 173 | 202 | |
Related allowance | 11,461 | 3,713 | |
Recorded investment | 55,059 | 39,951 | |
Unpaid principal balance | 62,380 | 53,021 | |
Originated Loans [Member] | Commercial Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 17,720 | 12,787 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 66 | 26 | |
Related allowance | 9,045 | 3,478 | |
Recorded investment | 28,615 | 16,866 | |
Unpaid principal balance | 28,795 | 21,094 | |
Originated Loans [Member] | Commercial Financial Agricultural And Other With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 8,130 | 12,034 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 10 | 38 | |
Recorded investment | 4,791 | 5,548 | |
Unpaid principal balance | 9,559 | 12,153 | |
Originated Loans [Member] | Real Estate Construction 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 | |
Unpaid principal balance | 0 | 0 | |
Originated Loans [Member] | Residential Real Estate With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 10,401 | 11,422 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 63 | 74 | |
Recorded investment | 10,129 | 10,625 | |
Unpaid principal balance | 12,000 | 12,470 | |
Originated Loans [Member] | Commercial Real Estate With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 5,510 | 5,949 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 31 | 54 | |
Recorded investment | 4,624 | 5,155 | |
Unpaid principal balance | 5,038 | 5,489 | |
Originated Loans [Member] | Loans To Individuals With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 354 | 338 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 2 | 2 | |
Recorded investment | 339 | 347 | |
Unpaid principal balance | 379 | 383 | |
Originated Loans [Member] | With No Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 24,395 | 29,743 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 106 | 168 | |
Recorded investment | 19,883 | 21,675 | |
Unpaid principal balance | 26,976 | 30,495 | |
Originated 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 | |
Recorded investment | 0 | 0 | |
Unpaid principal balance | 0 | 0 | |
Originated Loans [Member] | Residential Real Estate With Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 706 | 334 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 1 | |
Related allowance | 277 | 107 | |
Recorded investment | 808 | 456 | |
Unpaid principal balance | 846 | 478 | |
Originated Loans [Member] | Commercial Real Estate With Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 1,960 | 1,111 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 1 | 7 | |
Related allowance | 2,139 | 128 | |
Recorded investment | 5,753 | 954 | |
Unpaid principal balance | 5,763 | 954 | |
Originated 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 | |
Recorded investment | 0 | 0 | |
Unpaid principal balance | 0 | 0 | |
Originated Loans [Member] | With Related Allowance [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Impaired Financing Receivable, Average Recorded Investment | 20,386 | 14,232 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 67 | $ 34 | |
Related allowance | 11,461 | 3,713 | |
Recorded investment | 35,176 | 18,276 | |
Unpaid principal balance | $ 35,404 | $ 22,526 |
Loans and Allowance for Credi58
Loans and Allowance for Credit Losses - Troubled Debt Restructured Loans and Commitments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 28,940 | $ 22,785 |
Loans and Leases Receivable, Impaired, Commitment to Lend | 1,838 | 114 |
Letter of Credit [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | 60 | 60 |
Unused lines of Credit [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | 1,778 | 54 |
Accrual Loans [Member] [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | 18,707 | 11,563 |
Non Accrual Loans [Member] | ||
Financing Receivable, Troubled Debt Restructurings [Line Items] | ||
Financing Receivable, Modifications, Recorded Investment | $ 10,233 | $ 11,222 |
Loans and Allowance for Credi59
Loans and Allowance for Credit Losses - Troubled Debt Restructurings Identified During Period (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)Contract | Mar. 31, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 18 | 13 |
Total Pre-Modification Outstanding Recorded Investment | $ 8,387 | $ 817 |
Post- Modification Outstanding Recorded Investment | $ 7,393 | $ 778 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 775,000 | 0 |
Commercial, financial, agricultural and other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | 1 |
Total Pre-Modification Outstanding Recorded Investment | $ 4,871 | $ 42 |
Post- Modification Outstanding Recorded Investment | $ 3,942 | $ 38 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 531 | 0 |
Residential real estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 11 | 7 |
Total Pre-Modification Outstanding Recorded Investment | $ 441 | $ 536 |
Post- Modification Outstanding Recorded Investment | $ 404 | $ 504 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 17 | 0 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | 2 |
Total Pre-Modification Outstanding Recorded Investment | $ 3,017 | $ 195 |
Post- Modification Outstanding Recorded Investment | $ 2,994 | $ 193 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 227 | 0 |
Loans to individuals [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 4 | 3 |
Total Pre-Modification Outstanding Recorded Investment | $ 58 | $ 44 |
Post- Modification Outstanding Recorded Investment | $ 53 | $ 43 |
Financing Receivable, Modifications, Determination of Allowance for Credit Losses | 0 | 0 |
Extended Maturity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | $ 7,746 | $ 308 |
Extended Maturity [Member] | Commercial, financial, agricultural and other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 4,709 | 0 |
Extended Maturity [Member] | Residential real estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 20 | 129 |
Extended Maturity [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 3,017 | 179 |
Extended Maturity [Member] | Loans to individuals [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Contractual Interest Rate Reduction [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 103 | 157 |
Contractual Interest Rate Reduction [Member] | Commercial, financial, agricultural and other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 0 | 42 |
Contractual Interest Rate Reduction [Member] | Residential real estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 75 | 101 |
Contractual Interest Rate Reduction [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 0 | 0 |
Contractual Interest Rate Reduction [Member] | Loans to individuals [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 28 | 14 |
Contractual Payment Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 538 | 352 |
Contractual Payment Modification [Member] | Commercial, financial, agricultural and other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 162 | 0 |
Contractual Payment Modification [Member] | Residential real estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 346 | 306 |
Contractual Payment Modification [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | 0 | 16 |
Contractual Payment Modification [Member] | Loans to individuals [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total Pre-Modification Outstanding Recorded Investment | $ 30 | $ 30 |
Loans and Allowance for Credi60
Loans and Allowance for Credit Losses - Troubled Debt Restructuring is 90 Days or More Past Due (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)Contract | Mar. 31, 2017USD ($)Contract | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | Contract | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 940 | $ 0 |
Commercial, financial, agricultural and other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | Contract | 1 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 940 | $ 0 |
Loans and Allowance for Credi61
Loans and Allowance for Credit Losses - Allowance for Credit Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Provision for credit losses | $ 6,903 | $ 3,229 | |||
Ending Balance | $ 53,732 | $ 48,676 | |||
Ending balance: individually evaluated for impaired | 11,473 | 3,017 | |||
Ending balance: collectively evaluated for impaired | 42,259 | 45,659 | |||
Total | 5,381,305 | $ 5,407,376 | 4,907,961 | ||
Ending balance: individually evaluated for impaired | 50,491 | 38,366 | |||
Ending balance: collectively evaluated for impaired | 5,330,814 | 4,869,595 | |||
Residential real estate [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Ending Balance | 3,154 | 2,445 | |||
Total | 1,434,623 | 1,217,398 | |||
Commercial Real Estate [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Ending Balance | 18,496 | 6,582 | |||
Ending balance: individually evaluated for impaired | 2,141 | 376 | |||
Ending balance: collectively evaluated for impaired | 16,355 | 6,206 | |||
Total | 2,027,072 | 1,761,101 | |||
Ending balance: individually evaluated for impaired | 10,360 | 5,819 | |||
Ending balance: collectively evaluated for impaired | 2,016,712 | 1,755,282 | |||
Commercial, financial, agricultural and other [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Ending Balance | 27,552 | 34,701 | |||
Ending balance: individually evaluated for impaired | 9,045 | 2,466 | |||
Ending balance: collectively evaluated for impaired | 18,507 | 32,235 | |||
Total | 1,131,594 | 1,148,460 | |||
Ending balance: individually evaluated for impaired | 33,278 | 26,260 | |||
Ending balance: collectively evaluated for impaired | 1,098,316 | 1,122,200 | |||
Real estate construction [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Ending Balance | 1,114 | 614 | |||
Ending balance: individually evaluated for impaired | 0 | 0 | |||
Ending balance: collectively evaluated for impaired | 1,114 | 614 | |||
Total | 246,961 | 240,122 | |||
Ending balance: individually evaluated for impaired | 0 | 0 | |||
Ending balance: collectively evaluated for impaired | 246,961 | 240,122 | |||
Residential real estate [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Ending balance: individually evaluated for impaired | 287 | 175 | |||
Ending balance: collectively evaluated for impaired | 2,867 | 2,270 | |||
Ending balance: individually evaluated for impaired | 6,853 | 6,287 | |||
Ending balance: collectively evaluated for impaired | 1,427,770 | 1,211,111 | |||
Loans to individuals [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Ending Balance | 3,416 | 4,334 | |||
Ending balance: individually evaluated for impaired | 0 | 0 | |||
Ending balance: collectively evaluated for impaired | 3,416 | 4,334 | |||
Total | 541,055 | 540,880 | |||
Ending balance: individually evaluated for impaired | 0 | 0 | |||
Ending balance: collectively evaluated for impaired | 541,055 | 540,880 | |||
Acquired Loans [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 46 | 19 | |||
Charge-offs | (20) | (15) | |||
Recoveries | 37 | 7 | |||
Provision for credit losses | (28) | 20 | |||
Ending Balance | 46 | 19 | 35 | 46 | 31 |
Total | 384,190 | 400,015 | |||
Acquired Loans [Member] | Residential real estate [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 6 | 19 | |||
Charge-offs | (16) | (8) | |||
Recoveries | 17 | 6 | |||
Provision for credit losses | 6 | 14 | |||
Ending Balance | 6 | 19 | 13 | 6 | 31 |
Total | 213,634 | 220,251 | |||
Acquired Loans [Member] | Commercial Real Estate [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 29 | 0 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Provision for credit losses | (27) | 0 | |||
Ending Balance | 29 | 0 | 2 | 29 | 0 |
Total | 125,463 | 126,911 | |||
Acquired Loans [Member] | Commercial, financial, agricultural and other [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 11 | 0 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 7 | 0 | |||
Provision for credit losses | 2 | 0 | |||
Ending Balance | 11 | 0 | 20 | 11 | 0 |
Total | 38,402 | 40,642 | |||
Acquired Loans [Member] | Real estate construction [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 0 | 0 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 6 | 0 | |||
Provision for credit losses | (6) | 0 | |||
Ending Balance | 0 | 0 | 0 | 0 | 0 |
Total | 1,120 | 5,963 | |||
Acquired Loans [Member] | Loans to individuals [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 0 | 0 | |||
Charge-offs | (4) | (7) | |||
Recoveries | 7 | 1 | |||
Provision for credit losses | (3) | 6 | |||
Ending Balance | 0 | 0 | 0 | 0 | 0 |
Total | 5,571 | 6,248 | |||
Originated Loans [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 48,252 | 50,166 | |||
Charge-offs | (2,082) | (5,519) | |||
Recoveries | 596 | 789 | |||
Provision for credit losses | 6,931 | 3,209 | |||
Ending Balance | 48,252 | 50,166 | 53,697 | 48,252 | 48,645 |
Total | 4,997,115 | 5,007,361 | |||
Originated Loans [Member] | Residential real estate [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 2,753 | 2,492 | |||
Charge-offs | (455) | (465) | |||
Recoveries | 75 | 122 | |||
Provision for credit losses | 768 | 265 | |||
Ending Balance | 2,753 | 2,492 | 3,141 | 2,753 | 2,414 |
Total | 1,220,989 | 1,206,119 | |||
Originated Loans [Member] | Commercial Real Estate [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 17,328 | 6,619 | |||
Charge-offs | (168) | (31) | |||
Recoveries | 69 | 117 | |||
Provision for credit losses | 1,265 | (123) | |||
Ending Balance | 17,328 | 6,619 | 18,494 | 17,328 | 6,582 |
Total | 1,901,609 | 1,892,185 | |||
Originated Loans [Member] | Commercial, financial, agricultural and other [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 23,418 | 35,974 | |||
Charge-offs | (290) | (3,825) | |||
Recoveries | 256 | 368 | |||
Provision for credit losses | 4,148 | 2,184 | |||
Ending Balance | 23,418 | 35,974 | 27,532 | 23,418 | 34,701 |
Total | 1,093,192 | 1,122,741 | |||
Originated Loans [Member] | Real estate construction [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 1,349 | 577 | |||
Charge-offs | 0 | 0 | |||
Recoveries | 1 | 54 | |||
Provision for credit losses | (236) | (17) | |||
Ending Balance | 1,349 | 577 | 1,114 | 1,349 | 614 |
Total | 245,841 | 242,905 | |||
Originated Loans [Member] | Loans to individuals [Member] | |||||
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||||
Beginning Balance | 3,404 | 4,504 | |||
Charge-offs | (1,169) | (1,198) | |||
Recoveries | 195 | 128 | |||
Provision for credit losses | 986 | 900 | |||
Ending Balance | $ 3,404 | $ 4,504 | 3,416 | 3,404 | $ 4,334 |
Total | $ 535,484 | $ 543,411 |
Income Taxes Income Taxes (Deta
Income Taxes Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unrecognized Tax Benefits | $ 0 | |||
Restricted Stock Expense, Tax Benefit | $ 100 | |||
Effect of ASU Adoption [Member] | ||||
Cumulative effect of adoption of ASU 2018-02 | 0 | $ 0 | ||
Effect of ASU Adoption [Member] | Retained Earnings [Member] | ||||
Cumulative effect of adoption of ASU 2018-02 | $ 1,344 | $ 1,344 |
Fair Values of Assets and Lia63
Fair Values of Assets and Liabilities - Quantitative Inputs and Assumptions Used in Level 3 Fair Value Measurements (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | $ 812,877,000 | $ 731,358,000 | |
Assets | $ 853,683,000 | 779,966,000 | |
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] | 5.00% | |
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] | 11.50% | |
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 | 71.89% | ||
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 | 7.42% | ||
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 | 8.73% | ||
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 | 11,181,000 | ||
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 | $ 1,290,000 | ||
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] | 2.81 | |
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] | 51.59 | |
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] | 3.35 | |
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] | $ 59.55 | |
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 | $ 2,292,000 | ||
Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale, at fair value | 15,802,000 | 25,316,000 | |
Assets | 18,094,000 | 27,459,000 | |
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 | 14,132,000 | 23,646,000 | |
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 | 23,646,000 | ||
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 | 14,132,000 | ||
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 | 3,278,000 | 3,264,000 | |
Assets | 49,062,000 | 41,758,000 | |
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 | 19,238,000 | $ 15,245,000 | |
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 Lia64
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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance, beginning of period | $ 27,459 | $ 35,892 |
Total gains or losses included in earnings | 2,840 | 0 |
Total gains or losses included in other comprehensive income | 4,529 | 497 |
Purchases | 149 | 410 |
Issuances | 0 | 0 |
Sales | 0 | 0 |
Settlements | (16,883) | (48) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 |
Balance, end of period | 18,094 | 36,751 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 |
Pooled Trust Preferred Collateralized Debt Obligations [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance, beginning of period | 23,646 | 33,292 |
Total gains or losses included in earnings | 2,840 | 0 |
Total gains or losses included in other comprehensive income | 4,529 | 497 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales | 0 | 0 |
Settlements | (16,883) | (48) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 |
Balance, end of period | 14,132 | 33,741 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 |
Equity Securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance, beginning of period | 1,670 | 1,670 |
Total gains or losses included in earnings | 0 | 0 |
Total gains or losses included in other comprehensive income | 0 | 0 |
Purchases | 0 | 0 |
Issuances | 0 | 0 |
Sales | 0 | 0 |
Settlements | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 |
Balance, end of period | 1,670 | 1,670 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 |
Other Assets [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance, beginning of period | 2,143 | 930 |
Total gains or losses included in earnings | 0 | 0 |
Total gains or losses included in other comprehensive income | 0 | 0 |
Purchases | 149 | 410 |
Issuances | 0 | 0 |
Sales | 0 | 0 |
Settlements | 0 | 0 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 | 0 |
Balance, end of period | 2,292 | 1,340 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ 0 |
Fair Values of Assets and Lia65
Fair Values of Assets and Liabilities - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | $ 812,877 | $ 731,358 | ||
Other investments | 24,400 | 29,837 | ||
Loans Held for Sale | 9,759 | 14,850 | ||
Other Assets | 6,647 | [1] | 3,921 | [2] |
Total Assets | 853,683 | 779,966 | ||
Other Liabilities | 4,879 | [1] | 3,079 | [2] |
Total Liabilities | 4,879 | 3,079 | ||
Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 811,207 | 729,688 | ||
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 | 10,665 | 11,338 | ||
US Government Agency Debt Securities Commercial [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 72,137 | 24,149 | ||
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 | 664,788 | 625,555 | ||
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 | 1,098 | 1,097 | ||
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 | 27,161 | 27,410 | ||
Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 21,226 | 16,493 | ||
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 | 14,132 | 23,646 | ||
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] | US Government Agency Debt Securities Commercial [Domain] | ||||
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 - 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 | 797,075 | 706,042 | ||
Other investments | 24,400 | 29,837 | ||
Loans Held for Sale | 9,759 | 14,850 | ||
Other Assets | 4,355 | [1] | 1,778 | [2] |
Total Assets | 835,589 | 752,507 | ||
Other Liabilities | 4,879 | [1] | 3,079 | [2] |
Total Liabilities | 4,879 | 3,079 | ||
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 | 797,075 | 706,042 | ||
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 | 10,665 | 11,338 | ||
Level 2 [Member] | US Government Agency Debt Securities Commercial [Domain] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale, at fair value | 72,137 | 24,149 | ||
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 | 664,788 | 625,555 | ||
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 | 1,098 | 1,097 | ||
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 | 27,161 | 27,410 | ||
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 | 21,226 | 16,493 | ||
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 | 15,802 | 25,316 | ||
Other investments | 0 | 0 | ||
Loans Held for Sale | 0 | 0 | ||
Other Assets | 2,292 | [1] | 2,143 | [2] |
Total Assets | 18,094 | 27,459 | ||
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 | 14,132 | 23,646 | ||
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] | US Government Agency Debt Securities Commercial [Domain] | ||||
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 - 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 | $ 23,646 | |||
[1] | Hedging and non-hedging interest rate derivatives and limited partnership investments | |||
[2] | on-hedging interest rate derivatives |
Fair Values of Assets and Lia66
Fair Values of Assets and Liabilities - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
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 | $ 0 | |
Impaired loans considered to be credit risk of non-collection | 100 | ||
Updated appraisal requirement floor | 250 | ||
Other real estate owned | 2,997 | $ 2,765 | |
Financial instrument of credit risk | 200 | $ 200 | |
Fair Value, Assets Measured on Recurring Basis, Gain (Loss) Included in Other Income, Assets and Liabilities Continue to be held | 0 | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | 0 | |
Total gains or losses included in earnings | 2,840 | 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 | 0 | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | 0 | ||
Total gains or losses included in earnings | $ 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 Lia67
Fair Values of Assets and Liabilities - Schedule of Assets Measured on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | $ 853,683 | $ 779,966 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 45,784 | 38,494 |
Other real estate owned | 3,278 | 3,264 |
Total Assets | 49,062 | 41,758 |
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 | 835,589 | 752,507 |
Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 26,546 | 23,249 |
Other real estate owned | 3,278 | 3,264 |
Total Assets | 29,824 | 26,513 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Assets | 18,094 | 27,459 |
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired loans | 19,238 | 15,245 |
Other real estate owned | 0 | 0 |
Total Assets | $ 19,238 | $ 15,245 |
Fair Values of Assets and Lia68
Fair Values of Assets and Liabilities - Losses Realized on Assets Measured on Non-Recurring Basis (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | ||
Impaired loans | $ (7,850) | $ (1,460) |
Other real estate owned | (30) | (31) |
Total losses | $ (7,880) | $ (1,491) |
Fair Values of Assets and Lia69
Fair Values of Assets and Liabilities - Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Carrying Amount [Member] | ||
Fair Value Measurements Of Financial Instruments [Line Items] | ||
Cash and due from banks | $ 65,886 | $ 98,624 |
Interest-bearing deposits | 9,736 | 8,668 |
Securities available for sale, at fair value | 812,877 | 731,358 |
Held-to-maturity Securities | 410,430 | 422,096 |
Other investments | 24,400 | |
Loans Held for sale, Amount | 9,759 | 14,850 |
Loans and Leases Receivable, Net of Deferred Income | 5,381,305 | 5,407,376 |
Deposits | 5,703,522 | 5,580,705 |
Short-term borrowings | 588,016 | 707,466 |
Subordinated debt | 72,167 | 72,167 |
Long-term debt | 8,011 | 8,161 |
Capital Lease Obligations | 7,498 | 7,590 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value Measurements Of Financial Instruments [Line Items] | ||
Cash and due from banks | 65,886 | 98,624 |
Interest-bearing deposits | 9,736 | 8,668 |
Securities available for sale, at fair value | 812,877 | 731,358 |
Held-to-maturity Securities | 399,528 | 418,249 |
Other investments | 24,400 | 29,837 |
Loans Held for sale, Amount | 9,759 | 14,850 |
Loans and Leases Receivable, Net of Deferred Income | 5,399,240 | 5,443,434 |
Deposits | 5,701,021 | 5,580,812 |
Short-term borrowings | 587,834 | 707,263 |
Subordinated debt | 70,114 | 65,785 |
Long-term debt | 8,237 | 8,548 |
Capital Lease Obligations | 7,498 | 7,590 |
Estimate of Fair Value Measurement [Member] | Level 1 [Member] | ||
Fair Value Measurements Of Financial Instruments [Line Items] | ||
Cash and due from banks | 65,886 | 98,624 |
Interest-bearing deposits | 9,736 | 8,668 |
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 | 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 | 797,075 | 706,042 |
Held-to-maturity Securities | 399,528 | 418,249 |
Other investments | 24,400 | 29,837 |
Loans Held for sale, Amount | 9,759 | 14,850 |
Loans and Leases Receivable, Net of Deferred Income | 26,546 | 23,249 |
Deposits | 5,701,021 | 5,580,812 |
Short-term borrowings | 587,834 | 707,263 |
Subordinated debt | 0 | 0 |
Long-term debt | 8,237 | 8,548 |
Capital Lease Obligations | 7,498 | 7,590 |
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 | 15,802 | 25,316 |
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 | 5,372,694 | 5,420,185 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Subordinated debt | 70,114 | 65,785 |
Long-term debt | 0 | 0 |
Capital Lease Obligations | $ 0 | $ 0 |
Derivatives - Additional Inform
Derivatives - Additional Information (Detail) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018USD ($)Derivatives | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | |
Risk participation Agreements [Line Items] | |||
HedgedItemsOfCashFlowHedge | $ 115,000 | ||
Risk Participation Agreements Purchased [Domain] | |||
Risk participation Agreements [Line Items] | |||
Number of interest rate swaps | Derivatives | 37 | ||
Risk Participation Agreements Sold [Domain] | |||
Risk participation Agreements [Line Items] | |||
Number of interest rate swaps | Derivatives | 12 | ||
Forward Contracts [Member] | |||
Risk participation Agreements [Line Items] | |||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $ (62) | $ 112 | |
Derivative Liability, Cost Basis, Gross Asset | 7,000 | $ 14,300 | |
Derivative Liability, Fair Value, Gross Asset | 7,200 | 14,700 | |
Derivative Liability, Notional Amount, Gross Asset | 18,300 | 13,800 | |
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | |||
Risk participation Agreements [Line Items] | |||
Derivative, Fair Value, Net | (81) | (19) | |
Derivative, Notional Amount | 22,000 | 17,000 | |
Foreign Exchange [Member] | |||
Risk participation Agreements [Line Items] | |||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | (3) | 2 | |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | |||
Risk participation Agreements [Line Items] | |||
Derivative, Fair Value, Net | 13 | 70 | |
Derivative, Notional Amount | 7,858 | 10,077 | |
Derivative Liability, Cost Basis, Gross Asset | 7,800 | 10,000 | |
Derivative Liability, Fair Value, Gross Asset | 7,800 | 10,100 | |
Interest Rate Swap [Member] | |||
Risk participation Agreements [Line Items] | |||
Derivative Instruments Designated As Hedging Instruments Interest Income | (81) | 249 | |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | $ 78 | |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | |||
Risk participation Agreements [Line Items] | |||
Derivative, Fair Value, Net | 590 | (459) | |
Derivative, Notional Amount | $ 115,000 | $ 150,000 |
Derivatives - Credit Value Adju
Derivatives - Credit Value Adjustment Recorded Related to Notional Amount of Derivatives Outstanding (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | $ (2) | $ (791) |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | (408,973) | (401,304) |
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | (590) | 459 |
Derivative, Notional Amount | (115,000) | (150,000) |
Interest Rate Cap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | (46,361) | (46,444) |
Credit Default Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | (189,491) | (197,660) |
Forward Contracts [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | 81 | 19 |
Derivative, Notional Amount | (22,000) | (17,000) |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Fair Value, Net | (13) | (70) |
Derivative, Notional Amount | (7,858) | (10,077) |
Short [Member] | Credit Default Swap, Selling Protection [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivative [Line Items] | ||
Derivative, Notional Amount | $ (63,345) | $ (46,170) |
Derivatives - Schedule of Chang
Derivatives - Schedule of Changes in Fair Value of Derivative Assets and Liabilities (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Derivative [Line Items] | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 789 | $ 2 |
Interest Rate Swap [Member] | ||
Derivative [Line Items] | ||
Derivative Instruments Designated As Hedging Instruments Interest Income | (81) | 249 |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | 78 |
Forward Contracts [Member] | ||
Derivative [Line Items] | ||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | (62) | 112 |
Foreign Exchange [Member] | ||
Derivative [Line Items] | ||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | $ (3) | $ 2 |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Goodwill Disclosure [Abstract] | |||
Goodwill | $ 255,180,000 | $ 255,353,000 | |
Goodwill, Period Increase (Decrease) | (200,000) | ||
Impairment charges on goodwill | $ 0 | $ 0 |
Revenue Recognition Revenue R74
Revenue Recognition Revenue Recognition (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Additional Information [Abstract] | |
Management Fees, Incentive Revenue | $ 0.3 |
Brokerage Commissions Revenue | $ 0.4 |
Revenue Recognition In-Scope an
Revenue Recognition In-Scope and Out-of-Scope Revenue Streams (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Trust income | $ 1,928 | $ 1,417 |
Service charges on deposit accounts | 4,406 | 4,319 |
Insurance and retail brokerage commissions | 1,868 | 2,082 |
Card-related interchange income | 4,742 | 4,251 |
Derivatives mark to market | 789 | 2 |
Gain on sale of other loans and assets | 574 | 307 |
Other income | 1,628 | 1,706 |
Noninterest Income | 22,043 | 16,932 |
In-Scope of Topic 606 [Member] | ||
Trust income | 1,928 | 1,417 |
Service charges on deposit accounts | 4,406 | 4,319 |
Insurance and retail brokerage commissions | 1,868 | 2,082 |
Card-related interchange income | 4,742 | 4,251 |
Gain on sale of other loans and assets | 207 | 190 |
Other income | 892 | 945 |
Noninterest Income | 14,043 | 13,204 |
Out-Of-Scope of Topic 606 [Member] | ||
Noninterest Income | $ 8,000 | $ 3,728 |
Revenue Recognition Transition
Revenue Recognition Transition Adjustments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Net securities gains | $ 2,840 | $ 652 |
Trust income | 1,928 | 1,417 |
Service charges on deposit accounts | 4,406 | 4,319 |
Insurance and retail brokerage commissions | 1,868 | 2,082 |
Income from bank owned life insurance | 1,494 | 1,292 |
Gain on sale of mortgage loans | 1,484 | 977 |
Gain on sale of other loans and assets | 574 | 307 |
Card-related interchange income | 4,742 | 4,251 |
Derivatives mark to market | 789 | 2 |
Derivative Fee Income | 290 | (73) |
Other income | 1,628 | 1,706 |
Noninterest Income | 22,043 | 16,932 |
Salaries and employee benefits | 24,873 | 23,466 |
Net occupancy expense | 4,369 | 3,761 |
Furniture and equipment expense | 3,540 | 3,088 |
Data processing expense | 2,433 | 2,085 |
Marketing and Advertising Expense | 809 | 806 |
Pennsylvania shares tax expense | 903 | 816 |
Intangible amortization | 784 | 572 |
Collection and repossession expense | 823 | 497 |
Other professional fees and services | 1,007 | 959 |
FDIC insurance | 776 | 793 |
Loss on sale or write-down of assets | 197 | 99 |
Litigation and operational losses | 179 | 232 |
Conversion Related Expenses | 337 | 611 |
Other operating expenses | 5,843 | 4,980 |
Noninterest Expense | 46,873 | $ 42,765 |
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Net securities gains | 2,840 | |
Trust income | 1,928 | |
Service charges on deposit accounts | 4,406 | |
Insurance and retail brokerage commissions | 2,248 | |
Income from bank owned life insurance | 1,494 | |
Gain on sale of mortgage loans | 1,484 | |
Gain on sale of other loans and assets | 574 | |
Card-related interchange income | 4,742 | |
Derivatives mark to market | 789 | |
Derivative Fee Income | 290 | |
Other income | 1,854 | |
Noninterest Income | 22,649 | |
Salaries and employee benefits | 25,253 | |
Net occupancy expense | 4,369 | |
Furniture and equipment expense | 3,540 | |
Data processing expense | 2,509 | |
Marketing and Advertising Expense | 809 | |
Pennsylvania shares tax expense | 903 | |
Intangible amortization | 784 | |
Collection and repossession expense | 823 | |
Other professional fees and services | 1,007 | |
FDIC insurance | 776 | |
Loss on sale or write-down of assets | 197 | |
Litigation and operational losses | 179 | |
Conversion Related Expenses | 337 | |
Other operating expenses | 5,993 | |
Noninterest Expense | 47,479 | |
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Net securities gains | 0 | |
Trust income | 0 | |
Service charges on deposit accounts | 0 | |
Insurance and retail brokerage commissions | (380) | |
Income from bank owned life insurance | 0 | |
Gain on sale of mortgage loans | 0 | |
Gain on sale of other loans and assets | 0 | |
Card-related interchange income | 0 | |
Derivatives mark to market | 0 | |
Derivative Fee Income | 0 | |
Other income | (226) | |
Noninterest Income | (606) | |
Salaries and employee benefits | (380) | |
Net occupancy expense | 0 | |
Furniture and equipment expense | 0 | |
Data processing expense | (76) | |
Marketing and Advertising Expense | 0 | |
Pennsylvania shares tax expense | 0 | |
Intangible amortization | 0 | |
Collection and repossession expense | 0 | |
Other professional fees and services | 0 | |
FDIC insurance | 0 | |
Loss on sale or write-down of assets | 0 | |
Litigation and operational losses | 0 | |
Conversion Related Expenses | 0 | |
Other operating expenses | (150) | |
Noninterest Expense | (606) | |
Net Impact of Topic 606 | $ 0 |
Subsequent Event (Details)
Subsequent Event (Details) - Subsequent Event [Member] $ in Millions | May 01, 2018USD ($)branch |
Subsequent Event [Line Items] | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ | $ 207 |
Branch Acquisition, Number of Branches | branch | 5 |