Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 03, 2015 | |
Document Information [Line Items] | ||
Entity Registrant Name | FIRST FINANCIAL CORP /IN/ | |
Entity Central Index Key | 714,562 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 12,703,869 | |
Trading Symbol | THFF |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from banks | $ 63,278 | $ 78,102 |
Federal funds sold | 0 | 8,000 |
Securities available-for-sale | 885,836 | 897,053 |
Loans: | ||
Commercial | 1,040,677 | 1,044,522 |
Residential | 451,425 | 469,172 |
Consumer | 272,235 | 266,656 |
Loans, gross | 1,764,337 | 1,780,350 |
Less: Unearned Income | 2,330 | 1,078 |
Less: Allowance for loan losses | (19,925) | (18,839) |
Loans, Net | 1,746,742 | 1,762,589 |
Restricted Investments | 10,838 | 16,404 |
Accrued interest receivable | 12,265 | 11,593 |
Premises and equipment, net | 50,834 | 51,802 |
Bank-owned life insurance | 81,961 | 80,730 |
Goodwill | 39,489 | 39,489 |
Other intangible assets | 3,375 | 3,901 |
Other real estate owned | 3,382 | 3,965 |
Other assets | 44,833 | 48,857 |
TOTAL ASSETS | 2,942,833 | 3,002,485 |
Deposits: | ||
Non-interest-bearing | 521,310 | 556,389 |
Interest-bearing: | ||
Certificates of deposit of $100 or more | 47,154 | 53,733 |
Other interest-bearing deposits | 1,850,125 | 1,847,075 |
Total Deposits | 2,418,589 | 2,457,197 |
Short-term borrowings | 23,336 | 48,015 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances | 13,251 | 12,886 |
Other liabilities | 79,066 | 90,173 |
TOTAL LIABILITIES | 2,534,242 | 2,608,271 |
Shareholders' equity | ||
Common stock, $.125 stated value per share; Authorized shares-40,000,000 Issued shares-14,557,815 in 2015 and 14,538,132 in 2014 Outstanding shares-12,703,869 in 2015 and 12,962,607 in 2014 | 1,817 | 1,815 |
Additional paid-in capital | 72,916 | 72,405 |
Retained earnings | 394,761 | 377,970 |
Accumulated other comprehensive income (loss) | (8,758) | (14,529) |
Less: Treasury shares at cost-1,853,946 in 2015 and 1,595,525 in 2014 | (52,145) | (43,447) |
TOTAL SHAREHOLDERS' EQUITY | 408,591 | 394,214 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 2,942,833 | $ 3,002,485 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2015 | Dec. 31, 2014 |
Common stock, stated value per share | $ 0.125 | $ 0.125 |
Common stock, Authorized shares | 40,000,000 | 40,000,000 |
Common stock, Issued shares | 14,557,815 | 14,538,132 |
Common stock, Outstanding shares | 12,703,869 | 12,962,607 |
Treasury, shares | 1,853,946 | 1,575,525 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
INTEREST INCOME: | ||||
Loans, including related fees | $ 21,478 | $ 21,939 | $ 63,048 | $ 65,782 |
Securities: | ||||
Taxable | 3,918 | 4,196 | 11,970 | 12,938 |
Tax-exempt | 1,806 | 1,782 | 5,375 | 5,294 |
Other | 401 | 459 | 1,265 | 1,301 |
TOTAL INTEREST INCOME | 27,603 | 28,376 | 81,658 | 85,315 |
INTEREST EXPENSE: | ||||
Deposits | 963 | 1,088 | 2,980 | 3,611 |
Short-term borrowings | 22 | 49 | 54 | 85 |
Other borrowings | 42 | 94 | 129 | 726 |
TOTAL INTEREST EXPENSE | 1,027 | 1,231 | 3,163 | 4,422 |
NET INTEREST INCOME | 26,576 | 27,145 | 78,495 | 80,893 |
Provision for loan losses | 1,050 | 1,506 | 3,650 | 3,110 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 25,526 | 25,639 | 74,845 | 77,783 |
NON-INTEREST INCOME: | ||||
Trust and financial services | 1,382 | 1,386 | 4,127 | 4,289 |
Service charges and fees on deposit accounts | 2,688 | 2,813 | 7,557 | 8,058 |
Other service charges and fees | 3,080 | 3,112 | 8,918 | 8,940 |
Net securities gains (losses) | 9 | 0 | 23 | (1) |
Insurance commissions | 1,693 | 2,091 | 5,202 | 5,620 |
Gain on sales of mortgage loans | 611 | 519 | 1,512 | 1,352 |
Other | 488 | 573 | 2,451 | 1,676 |
TOTAL NON-INTEREST INCOME | 9,951 | 10,494 | 29,790 | 29,934 |
NON-INTEREST EXPENSE: | ||||
Salaries and employee benefits | 14,963 | 14,081 | 45,105 | 42,064 |
Occupancy expense | 1,756 | 1,776 | 5,322 | 5,490 |
Equipment expense | 1,736 | 1,905 | 5,210 | 5,467 |
FDIC Expense | 468 | 537 | 1,348 | 1,496 |
Other | 5,229 | 6,406 | 16,470 | 17,706 |
TOTAL NON-INTEREST EXPENSE | 24,152 | 24,705 | 73,455 | 72,223 |
INCOME BEFORE INCOME TAXES | 11,325 | 11,428 | 31,180 | 35,494 |
Income tax expense | 2,927 | 3,156 | 8,098 | 10,903 |
NET INCOME | 8,398 | 8,272 | 23,082 | 24,591 |
OTHER COMPREHENSIVE INCOME (LOSS) | ||||
Change in unrealized gains/losses on securities, net of reclassifications | 4,471 | 1,879 | 1,669 | 11,298 |
Change in funded status of post retirement benefits | 819 | 116 | 4,102 | 346 |
COMPREHENSIVE INCOME (LOSS) | $ 13,688 | $ 10,267 | $ 28,853 | $ 36,235 |
PER SHARE DATA | ||||
Basic and Diluted Earnings per Share (in dollars per share) | $ 0.65 | $ 0.62 | $ 1.79 | $ 1.85 |
Weighted average number of shares outstanding (in thousands) | 12,773 | 13,269 | 12,874 | 13,325 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income/(Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2013 | $ 386,195 | $ 1,811 | $ 71,074 | $ 357,083 | $ (13,969) | $ (29,804) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 24,591 | 0 | 0 | 24,591 | 0 | 0 |
Other comprehensive income (loss) | 11,644 | 0 | 0 | 0 | 11,644 | 0 |
Omnibus Equity Incentive Plan | 843 | 3 | 840 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (12,856) | 0 | 0 | 0 | ||
Dividends, Common Stock, Cash | (6,544) | 0 | 0 | (6,544) | 0 | 0 |
Balance at Sep. 30, 2014 | 403,873 | 1,814 | 71,914 | 375,130 | (2,325) | (42,660) |
Balance at Jun. 30, 2014 | 405,746 | 1,812 | 71,557 | 366,858 | (4,320) | (30,161) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 8,272 | 0 | 0 | 8,272 | 0 | 0 |
Other comprehensive income (loss) | 1,995 | 0 | 0 | 0 | 1,995 | 0 |
Omnibus Equity Incentive Plan | 359 | 2 | 357 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (12,499) | 0 | 0 | 0 | 0 | |
Balance at Sep. 30, 2014 | 403,873 | 1,814 | 71,914 | 375,130 | (2,325) | (42,660) |
Balance at Dec. 31, 2014 | 394,214 | 1,815 | 72,405 | 377,970 | (14,529) | (43,447) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 23,082 | 0 | 0 | 23,082 | 0 | 0 |
Other comprehensive income (loss) | 5,771 | 0 | 0 | 0 | 5,771 | 0 |
Omnibus Equity Incentive Plan | 513 | 2 | 511 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (8,698) | 0 | 0 | 0 | ||
Dividends, Common Stock, Cash | (6,291) | 0 | 0 | (6,291) | 0 | 0 |
Balance at Sep. 30, 2015 | 408,591 | 1,817 | 72,916 | 394,761 | (8,758) | (52,145) |
Balance at Jun. 30, 2015 | 399,058 | 1,816 | 72,746 | 386,363 | (14,048) | (47,819) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 8,398 | 0 | 0 | 8,398 | 0 | 0 |
Other comprehensive income (loss) | 5,290 | 0 | 0 | 0 | 5,290 | 0 |
Omnibus Equity Incentive Plan | 171 | 1 | 170 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (4,326) | 0 | 0 | 0 | 0 | |
Balance at Sep. 30, 2015 | $ 408,591 | $ 1,817 | $ 72,916 | $ 394,761 | $ (8,758) | $ (52,145) |
CONSOLIDATED STATEMENTS OF SHA6
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Treasury stock purchase (in shares) | 118,053 | 0 | 127,742 | 9,776 |
Cash Dividends (in dollars per share) | $ 0.49 | $ 0.49 | $ 0.49 | $ 0.49 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Income | $ 23,082 | $ 24,591 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net amortization (accretion) of premiums and discounts on investments | 2,209 | 1,988 |
Provision for loan losses | 3,650 | 3,110 |
Securities (gains) losses | (23) | 1 |
(Gain) loss on sale of other real estate | 76 | (150) |
Restricted stock compensation | 513 | 843 |
Depreciation and amortization | 4,159 | 4,536 |
Other, net | (18) | 3,641 |
NET CASH FROM OPERATING ACTIVITIES | 33,648 | 38,560 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from sales of securities available-for-sale | 3,465 | 355 |
Calls, maturities and principal reductions on securities available-for-sale | 110,221 | 99,027 |
Purchases of securities available-for-sale | (101,766) | (68,704) |
Increase (Decrease) in Federal Funds Sold | 8,000 | (10,704) |
Loans made to customers, net of repayment | 11,378 | (26,518) |
Proceeds from Sale of Restricted Investments | 5,576 | 0 |
Payments to Acquire Restricted Investments | (10) | (18) |
Finite-Lived Customer Lists, Gross | (103) | 0 |
Proceeds from sales of other real estate owned | 1,412 | 2,468 |
Additions to premises and equipment | (2,562) | (4,870) |
NET CASH FROM INVESTING ACTIVITIES | 35,611 | (8,964) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | (38,662) | (7,265) |
Net change in short-term borrowings | (24,679) | (561) |
Maturities of other borrowings | (30,212) | (397,000) |
Proceeds from Federal Home Loan Bank Borrowings | 30,800 | 427,000 |
Purchase of treasury stock | (8,698) | (12,856) |
Dividends paid | (12,632) | (12,949) |
NET CASH FROM FINANCING ACTIVITIES | (84,083) | (3,631) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | (14,824) | 25,965 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 78,102 | 71,033 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 63,278 | $ 96,998 |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies The significant accounting policies followed by the Corporation and its subsidiaries for interim financial reporting are consistent with the accounting policies followed for annual financial reporting. All adjustments which are, in the opinion of management, necessary for a fair statement of the results for the periods reported have been included in the accompanying consolidated financial statements and are of a normal recurring nature. The Corporation reports financial information for only one segment, banking. Some items in the prior year financials were reclassified to conform to the current presentation. The Omnibus Equity Incentive Plan is a long-term incentive plan that was designed to align the interests of participants with the interests of shareholders. Under the plan, awards may be made based on certain performance measures. The grants are made in restricted stock units that are subject to a vesting schedule. These shares vest over 3 years in increments of 33% , 33% , and 34% respectively. In 2015 and 2014, 19,683 and 22,019 shares were awarded, respectively. These shares had a grant date value of $667 thousand and $708 thousand for 2015 and 2014, vest over three years and their grant is not subject to future performance measures. Outstanding shares are increased at the award date for the total shares awarded. |
Allowance for Loan Losses
Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2015 | |
Loans and Leases Receivable, Allowance [Abstract] | |
Allowance for Loan Losses | The following table presents the activity of the allowance for loan losses by portfolio segment for the three months ended September 30. Allowance for Loan Losses: September 30, 2015 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 10,931 $ 1,760 $ 4,678 $ 2,492 $ 19,861 Provision for loan losses 1,338 158 1,052 (1,498 ) 1,050 Loans charged -off (1,874 ) (220 ) (1,201 ) — (3,295 ) Recoveries 1,694 196 419 — 2,309 Ending Balance $ 12,089 $ 1,894 $ 4,948 $ 994 $ 19,925 Allowance for Loan Losses: September 30, 2014 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 10,850 $ 1,374 $ 3,769 $ 2,262 $ 18,255 Provision for loan losses* 589 72 1,047 (178 ) 1,530 Loans charged -off (1,310 ) (153 ) (1,193 ) — (2,656 ) Recoveries 51 34 293 — 378 Ending Balance $ 10,180 $ 1,327 $ 3,916 $ 2,084 $ 17,507 * Provision before decrease of $ 24 thousand in 2014 for increase in FDIC indemnification asset The following table presents the activity of the allowance for loan losses by portfolio segment for the nine months ended September 30 Allowance for Loan Losses: September 30, 2015 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 10,915 $ 1,374 $ 4,370 $ 2,180 $ 18,839 Provision for loan losses 1,505 811 2,520 (1,186 ) 3,650 Loans charged -off (2,482 ) (626 ) (3,489 ) — (6,597 ) Recoveries 2,151 335 1,547 — 4,033 Ending Balance $ 12,089 $ 1,894 $ 4,948 $ 994 $ 19,925 Allowance for Loan Losses: September 30, 2014 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 12,450 $ 1,585 $ 3,650 $ 2,383 $ 20,068 Provision for loan losses* 270 84 2,380 (299 ) 2,435 Loans charged -off (2,956 ) (958 ) (3,228 ) — (7,142 ) Recoveries 416 616 1,114 — 2,146 Ending Balance $ 10,180 $ 1,327 $ 3,916 $ 2,084 $ 17,507 * Provision before increase of $675 thousand in 2014 for decrease in FDIC indemnification asset The following table presents the allocation of the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method at September 30, 2015 and December 31, 2014 . Allowance for Loan Losses September 30, 2015 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Individually evaluated for impairment $ 996 $ 232 $ — $ — $ 1,228 Collectively evaluated for impairment 10,902 1,662 4,948 994 18,506 Acquired with deteriorated credit quality 191 — — — 191 Ending Balance $ 12,089 $ 1,894 $ 4,948 $ 994 $ 19,925 Loans: September 30, 2015 (Dollar amounts in thousands) Commercial Residential Consumer Total Individually evaluated for impairment $ 9,648 $ 934 $ — $ 10,582 Collectively evaluated for impairment 1,032,992 450,198 273,436 1,756,626 Acquired with deteriorated credit quality 4,194 1,586 — 5,780 Ending Balance $ 1,046,834 $ 452,718 $ 273,436 $ 1,772,988 Allowance for Loan Losses: December 31, 2014 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Individually evaluated for impairment 1,911 — — — 1,911 Collectively evaluated for impairment 8,733 1,365 4,370 2,180 16,648 Acquired with deteriorated credit quality 271 9 — — 280 Ending Balance $ 10,915 $ 1,374 $ 4,370 $ 2,180 $ 18,839 Loans December 31, 2014 (Dollar amounts in thousands) Commercial Residential Consumer Total Individually evaluated for impairment 14,573 33 — 14,606 Collectively evaluated for impairment 1,030,949 468,872 267,880 1,767,701 Acquired with deteriorated credit quality 4,887 1,631 — 6,518 Ending Balance $ 1,050,409 $ 470,536 $ 267,880 $ 1,788,825 The following tables present loans individually evaluated for impairment by class of loans. September 30, 2015 Unpaid Principal Recorded Allowance for Loan Losses Average Recorded Interest Income Cash Basis Interest (Dollar amounts in thousands) Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial Commercial & Industrial $ 1,565 $ 1,272 $ — $ 1,939 $ — $ — Farmland — — — — — — Non Farm, Non Residential 3,243 3,243 — 1,800 — — Agriculture — — — — — — All Other Commercial 1,776 1,776 — 1,029 — — Residential First Liens 30 30 — 15 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 1,618 1,618 278 4,080 — — Farmland — — — — — — Non Farm, Non Residential 1,506 1,506 718 4,248 — — Agriculture — — — — — — All Other Commercial 233 233 — 548 — — Residential First Liens 904 904 232 357 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 10,875 $ 10,582 $ 1,228 $ 14,016 $ — $ — December 31, 2014 Unpaid Principal Recorded Allowance for Loan Losses Average Recorded Interest Income Cash Basis Interest Income (Dollar amounts in thousands) Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial Commercial & Industrial $ 1,200 $ 926 $ — $ 2,589 $ — $ — Farmland — — — — — — Non Farm, Non Residential — — — 58 — — Agriculture — — — — — — All Other Commercial 292 292 — 58 — — Residential First Liens — — — 5 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 7,388 5,874 1,056 6,177 — — Farmland — — — — — — Non Farm, Non Residential 6,654 6,654 753 6,698 — — Agriculture — — — — — — All Other Commercial 827 827 102 1,112 — — Residential First Liens 33 33 — 35 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 16,394 $ 14,606 $ 1,911 $ 16,732 $ — $ — Three Months Ended Nine Months Ended Average Interest Cash Basis Average Interest Cash Basis (Dollar amounts in thousands) Investment Recognized Recognized Investment Recognized Recognized With no related allowance recorded: Commercial Commercial & Industrial $ 3,290 $ — $ — $ 1,939 $ — $ — Farmland — — — — — — Non Farm, Non Residential 3,599 — — 1,800 — — Agriculture — — — — — — All Other Commercial 1,785 — — 1,029 — — Residential First Liens 31 — — 15 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 1,714 — — 4,080 — — Farmland — — — — — — Non Farm, Non Residential 1,929 — — 4,248 — — Agriculture — — — — — — All Other Commercial 393 — — 548 — — Residential First Liens 565 — — 357 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 13,306 $ — $ — $ 14,016 $ — $ — Three Months Ended Nine Months Ended Average Interest Cash Basis Average Interest Cash Basis (Dollar amounts in thousands) Investment Recognized Recognized Investment Recognized Recognized With no related allowance recorded: Commercial Commercial & Industrial $ 4,103 $ — $ — $ 3,005 $ — $ — Farmland — — — — — — Non Farm, Non Residential 42 — — 73 — — Agriculture — — — — — — All Other Commercial — — — — — — Residential First Liens 12 — — 6 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 4,420 — — 6,253 — — Farmland — — — — — — Non Farm, Non Residential 6,677 — — 6,709 — — Agriculture — — — — — — All Other Commercial 1,322 — — 1,184 — — Residential First Liens 35 — — 36 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 16,611 $ — $ — $ 17,266 $ — $ — The tables below presents the recorded investment in non-performing loans. September 30, 2015 Loans Past Due Over 90 Day Still Troubled Debt (Dollar amounts in thousands) Accruing Accruing Nonaccrual Nonaccrual Commercial Commercial & Industrial $ — $ 5 $ 430 $ 3,943 Farmland — — — 385 Non Farm, Non Residential — 7 3,190 2,666 Agriculture 588 — — 289 All Other Commercial — — — 1,993 Residential First Liens 798 4,558 995 5,062 Home Equity 62 — — 295 Junior Liens 13 — — 230 Multifamily — — — — All Other Residential — — — 115 Consumer Motor Vehicle 234 181 11 150 All Other Consumer 6 40 423 984 TOTAL $ 1,701 $ 4,791 $ 5,049 $ 16,112 December 31, 2014 Loans Past Due Over 90 Day Still Troubled Debt (Dollar amounts in thousands) Accruing Accruing Nonaccrual Nonaccrual Commercial Commercial & Industrial $ — $ 7 $ 4,961 $ 3,720 Farmland — — — 79 Non Farm, Non Residential — 10 3,987 3,388 Agriculture — — — 767 All Other Commercial — — — 1,258 Residential First Liens 603 4,357 842 3,861 Home Equity 88 — — 404 Junior Liens 12 — — 275 Multifamily — — — — All Other Residential 5 — — 111 Consumer Motor Vehicle 162 257 83 210 All Other Consumer 3 1 269 961 TOTAL $ 873 $ 4,632 $ 10,142 $ 15,034 There are $184 thousand loans covered by loss share agreements with the FDIC included in loans past due over 90 days still on accrual at September 30, 2015 and there were $37 thousand at December 31, 2014 . There were $242 thousand of covered loans included in non-accrual loans at September 30, 2015 and there were $274 thousand at December 31, 2014 . There were no covered loans at September 30, 2015 or December 31, 2014 that were deemed impaired. Non-performing loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The following tables presents the aging of the recorded investment in loans by past due category and class of loans. September 30, 2015 30-59 Days 60-89 Days Greater than 90 days Total (Dollar amounts in thousands) Past Due Past Due Past Due Past Due Current Total Commercial Commercial & Industrial $ 190 $ 321 $ 1,825 $ 2,336 $ 474,550 $ 476,886 Farmland 25 567 — 592 103,759 104,351 Non Farm, Non Residential 157 — 321 478 211,797 212,275 Agriculture 306 368 615 1,289 130,491 131,780 All Other Commercial 54 — 148 202 121,340 121,542 Residential First Liens 1,083 813 1,723 3,619 298,948 302,567 Home Equity 154 61 161 376 37,837 38,213 Junior Liens 306 87 187 580 30,602 31,182 Multifamily — — — — 71,916 71,916 All Other Residential — — — — 8,840 8,840 Consumer Motor Vehicle 2,619 495 251 3,365 247,719 251,084 All Other Consumer 94 49 6 149 22,203 22,352 TOTAL $ 4,988 $ 2,761 $ 5,237 $ 12,986 $ 1,760,002 $ 1,772,988 December 31, 2014 30-59 Days 60-89 Days Greater than 90 days Total (Dollar amounts in thousands) Past Due Past Due Past Due Past Due Current Total Commercial Commercial & Industrial $ 574 $ 416 $ 3,046 $ 4,036 $ 451,549 $ 455,585 Farmland — — — — 95,452 95,452 Non Farm, Non Residential 1,528 68 202 1,798 232,440 234,238 Agriculture 246 18 502 766 149,099 149,865 All Other Commercial 255 — — 255 115,014 115,269 Residential First Liens 6,011 963 1,522 8,496 308,068 316,564 Home Equity 141 33 310 484 40,043 40,527 Junior Liens 270 83 217 570 31,487 32,057 Multifamily — — — — 72,310 72,310 All Other Residential 112 — 5 117 8,961 9,078 Consumer Motor Vehicle 3,026 557 180 3,763 242,406 246,169 All Other Consumer 114 7 3 124 21,587 21,711 TOTAL $ 12,277 $ 2,145 $ 5,987 $ 20,409 $ 1,768,416 $ 1,788,825 During the three and nine months ended September 30, 2015 and 2014 , the terms of certain loans were modified as troubled debt restructurings (TDRs). The following tables present the activity for TDR's. 2015 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, 8,705 5,589 657 14,951 Added — 16 50 66 Charged Off — — (4 ) (4 ) Payments (5,081 ) (63 ) (41 ) (5,185 ) September 30, 3,624 5,542 662 9,828 2015 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, 8,955 5,189 614 14,758 Added — 668 239 907 Charged Off — (62 ) (44 ) (106 ) Payments (5,331 ) (253 ) (147 ) (5,731 ) September 30, 3,624 5,542 662 9,828 2014 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, 9,206 4,956 559 14,721 Added — 340 115 455 Charged Off — (67 ) (24 ) (91 ) Payments (122 ) (124 ) (81 ) (327 ) September 30, 9,084 5,105 569 14,758 2014 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, 12,327 4,330 644 17,301 Added 441 1,141 213 1,795 Charged Off (1,069 ) (67 ) (63 ) (1,199 ) Payments (2,615 ) (299 ) (225 ) (3,139 ) September 30, 9,084 5,105 569 14,758 Modification of the terms of such loans typically include one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. No modification in 2015 or 2014 resulted in the permanent reduction of the recorded investment in the loan. Modifications involving a reduction of the stated interest rate of the loan were for periods ranging from twelve months to five years. Modifications involving an extension of the maturity date were for periods ranging from twelve months to ten years. Troubled debt restructurings during the three and nine months ended September 30, 2015 and 2014 did not result in any material charge-offs or additional provision expense. The Corporation has allocated $ 36 thousand and $ 81 thousand of specific reserves to customers whose loan terms have been modified in troubled debt restructurings at both September 30, 2015 and 2014, respectively. The Corporation has not committed to lend additional amounts as of September 30, 2015 and 2014 to customers with outstanding loans that are classified as troubled debt restructurings. The charge-offs during the three and nine months ended September 30, 2015 and 2014 were not of any restructurings that had taken place in the previous 12 months. Credit Quality Indicators: The Corporation categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes loans individually by classifying the loans as to credit risk. This analysis includes non-homogeneous loans, such as commercial loans, with an outstanding balance greater than $100 thousand . Any consumer loans outstanding to a borrower who had commercial loans analyzed will be similarly risk rated. This analysis is performed on a quarterly basis. The Corporation uses the following definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and debt service capacity of the borrower or of any pledged collateral. These loans have a well-defined weakness or weaknesses which have clearly jeopardized repayment of principal and interest as originally intended. They are characterized by the distinct possibility that the institution will sustain some future loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those graded substandard, with the added characteristic that the severity of the weaknesses makes collection or liquidation in full highly questionable or improbable based upon currently existing facts, conditions, and values. Furthermore, non-homogeneous loans which were not individually analyzed, but are 90+ days past due or on non-accrual are classified as substandard. Loans included in homogeneous pools, such as residential or consumer may be classified as substandard due to 90+ days delinquency, non-accrual status, bankruptcy, or loan restructuring. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are either less than $100 thousand or are included in groups of homogeneous loans. As of September 30, 2015 and December 31, 2014 , and based on the most recent analysis performed, the risk category of loans by class of loans are as follows: September 30, 2015 (Dollar amounts in thousands) Pass Special Mention Substandard Doubtful Not Rated Total Commercial Commercial & Industrial $ 408,039 $ 28,331 $ 31,171 $ 1,295 $ 6,607 $ 475,443 Farmland 90,255 7,354 4,825 — 16 102,450 Non Farm, Non Residential 184,252 8,191 19,380 36 — 211,859 Agriculture 111,296 9,804 8,790 27 166 130,083 All Other Commercial 105,584 2,691 11,193 101 1,273 120,842 Residential First Liens 98,630 4,591 8,633 718 189,034 301,606 Home Equity 11,097 453 1,348 11 25,247 38,156 Junior Liens 7,578 119 482 59 22,862 31,100 Multifamily 69,077 1,616 1,026 — 25 71,744 All Other Residential 902 — 25 — 7,892 8,819 Consumer Motor Vehicle 10,555 498 508 — 238,435 249,996 All Other Consumer 3,181 89 121 15 18,833 22,239 TOTAL $ 1,100,446 $ 63,737 $ 87,502 $ 2,262 $ 510,390 $ 1,764,337 December 31, 2014 (Dollar amounts in thousands) Pass Special Mention Substandard Doubtful Not Rated Total Commercial Commercial & Industrial $ 393,449 $ 29,081 $ 24,013 $ 2,900 $ 4,717 $ 454,160 Farmland 85,772 7,618 436 — 13 93,839 Non Farm, Non Residential 186,346 21,765 25,613 36 — 233,760 Agriculture 138,713 7,399 1,746 177 67 148,102 All Other Commercial 101,942 4,356 7,055 33 1,275 114,661 Residential First Liens 104,854 5,929 7,733 1,035 196,008 315,559 Home Equity 12,592 375 1,374 6 26,116 40,463 Junior Liens 8,112 173 561 63 23,053 31,962 Multifamily 69,080 1,801 1,249 — 3 72,133 All Other Residential 1,799 — 28 — 7,228 9,055 Consumer Motor Vehicle 11,135 402 224 — 233,302 245,063 All Other Consumer 3,169 141 87 21 18,175 21,593 TOTAL $ 1,116,963 $ 79,040 $ 70,119 $ 4,271 $ 509,957 $ 1,780,350 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | September 30, 2015 (Dollar amounts in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government agencies $ 11,059 $ 61 $ — $ 11,120 Mortgage Backed Securities - Residential 188,184 6,391 (235 ) 194,340 Mortgage Backed Securities - Commercial 10 — — 10 Collateralized Mortgage Obligations 453,593 4,019 (3,703 ) 453,909 State and Municipal Obligations 204,279 7,438 (377 ) 211,340 Collateralized Debt Obligations 9,715 5,402 — 15,117 TOTAL $ 866,840 $ 23,311 $ (4,315 ) $ 885,836 December 31, 2014 (Dollar amounts in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government agencies $ 1,411 $ 56 $ — $ 1,467 Mortgage Backed Securities-residential 180,673 7,593 (330 ) 187,936 Mortgage Backed Securities-commercial 17 — — 17 Collateralized mortgage obligations 489,765 2,513 (7,623 ) 484,655 State and municipal 198,875 9,019 (219 ) 207,675 Collateralized debt obligations 10,205 5,115 (17 ) 15,303 TOTAL $ 880,946 $ 24,296 $ (8,189 ) $ 897,053 Contractual maturities of debt securities at September 30, 2015 were as follows. Securities not due at a single maturity or with no maturity date, primarily mortgage-backed and equity securities are shown separately. Available-for-Sale Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 3,399 $ 3,426 Due after one but within five years 40,291 41,512 Due after five but within ten years 88,042 91,552 Due after ten years 93,321 101,087 225,053 237,577 Mortgage-backed securities and collateralized mortgage obligations 641,787 648,259 TOTAL $ 866,840 $ 885,836 There were $9 thousand in gross gains and no losses from investment sales realized by the Corporation for the three months ended September 30, 2015 . For the nine months ended September 30, 2015 there were $23 thousand in gross gains and no losses. For the nine months ended September 30, 2014 there were $1 thousand in gross losses on sales of investment securities. There were no gains or losses on investment securities in the third quarter of 2014. The following tables show the securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at September 30, 2015 and December 31, 2014 . September 30, 2015 Less Than 12 Months More Than 12 Months Total Unrealized Unrealized Unrealized (Dollar amounts in thousands) Fair Value Losses Fair Value Losses Fair Value Losses Mortgage Backed Securities - Residential $ 18,372 $ (180 ) $ 19,957 $ (55 ) $ 38,329 $ (235 ) Collateralized mortgage obligations 147,188 (3,318 ) 55,710 (385 ) 202,898 (3,703 ) State and municipal obligations 4,372 (101 ) 23,387 (276 ) 27,759 (377 ) Total temporarily impaired securities $ 169,932 $ (3,599 ) $ 99,054 $ (716 ) $ 268,986 $ (4,315 ) December 31, 2014 Less Than 12 Months More Than 12 Months Total Unrealized Unrealized Unrealized (Dollar amounts in thousands) Fair Value Losses Fair Value Losses Fair Value Losses Mortgage Backed Securities - Residential $ — $ — $ 23,849 $ (330 ) $ 23,849 $ (330 ) Collateralized mortgage obligations 50,832 (128 ) 264,940 (7,495 ) 315,772 (7,623 ) State and municipal obligations 6,500 (35 ) 10,547 (184 ) 17,047 (219 ) Collateralized Debt Obligations — — 200 (17 ) 200 (17 ) Total temporarily impaired securities $ 57,332 $ (163 ) $ 299,536 $ (8,026 ) $ 356,868 $ (8,189 ) Management evaluates securities for other-than-temporary impairment (“OTTI”) at least on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The investment securities portfolio is evaluated for OTTI by segregating the portfolio into two general segments and applying the appropriate OTTI model. Investment securities are generally evaluated for OTTI under FASB ASC 320, Investments - Debt and Equity Securities . However, certain purchased beneficial interests, including non-agency mortgage-backed securities, asset-backed securities, and collateralized debt obligations, that had credit ratings at the time of purchase of below AA are evaluated using the model outlined in FASB ASC 325-40, Beneficial Interests in Securitized Financial Assets. When OTTI occurs under either model, the amount of the OTTI recognized in earnings depends on whether an entity intends to sell the security or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, less any current-period credit loss. If an entity intends to sell or it is more likely than not it will be required to sell the security before recovery of its amortized cost basis, less any current-period credit loss, the OTTI shall be recognized in earnings equal to the entire difference between the investment’s amortized cost basis and its fair value at the balance sheet date. If an entity does not intend to sell the security and it is not more likely than not that the entity will be required to sell the security before recovery of its amortized cost basis less any current-period loss, the OTTI shall be separated into the amount representing the credit loss and the amount related to all other factors. The amount of the total OTTI related to the credit loss is determined based on the present value of cash flows expected to be collected and is recognized in earnings. The amount of the total OTTI related to other factors is recognized in other comprehensive income, net of applicable taxes. The previous amortized cost basis less the OTTI recognized in earnings becomes the new amortized cost basis of the investment. Gross unrealized losses on investment securities were $4.3 million as of September 30, 2015 and $8.2 million as of December 31, 2014 . A majority of these losses represent negative adjustments to market value relative to the interest rate environment reflecting the increase in market rates and not losses related to the creditworthiness of the issuer. Based upon our review of the issuers, we do not believe these investments to be other than temporarily impaired. Management does not intend to sell these securities and it is not more likely than not that we will be required to sell them before their anticipated recovery. There are three collateralized debt obligations securities with previously recorded OTTI but there is no OTTI in 2015 or 2014 . Management has consistently used Standard & Poors pricing to value these investments. There are a number of other pricing sources available to determine fair value for these investments. These sources utilize a variety of methods to determine fair value. The result is a wide range of estimates of fair value for these securities. The Standard & Poors pricing ranges from 44.9 to 63.8 while Moody Investor Service pricing ranges from 7.2 to 16.3 , with others falling somewhere in between. We recognize that the Standard & Poors pricing utilized is an estimate, but have been consistent in using this source and its estimate of fair value. The table below presents a rollforward of the credit losses recognized in earnings for the three and nine month periods ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (Dollar amounts in thousands) 2015 2014 2015 2014 Beginning balance $ 13,995 $ 14,079 $ 14,050 $ 14,079 Increases to the amount related to the credit Loss for which other-than-temporary was previously recognized — — — — Reductions for increases in cash flows collected — (29 ) (55 ) (29 ) Amounts realized for securities sold during the period — — — — Ending balance $ 13,995 $ 14,050 $ 13,995 $ 14,050 |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value | FASB ASC No. 820-10 establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) of identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level I prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The fair value of most securities available for sale is determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs) or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). For those securities that cannot be priced using quoted market prices or observable inputs a Level 3 valuation is determined. These securities are primarily trust preferred securities, which are priced using Level 3 due to current market illiquidity and certain investments in state and municipal securities. The fair value of the trust preferred securities is obtained from a third party provider without adjustment. As described previously, management obtains values from other pricing sources to validate the Standard & Poors pricing that they currently utilize. The fair value of state and municipal obligations are derived by comparing the securities to current market rates plus an appropriate credit spread to determine an estimated value. Illiquidity spreads are then considered. Credit reviews are performed on each of the issuers. The significant unobservable inputs used in the fair value measurement of the Corporation’s state and municipal obligations are credit spreads related to specific issuers. Significantly higher credit spread assumptions would result in significantly lower fair value measurement. Conversely, significantly lower credit spreads would result in a significantly higher fair value measurements. The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2 inputs). September 30, 2015 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 11,120 $ — $ 11,120 Mortgage Backed Securities-residential — 194,340 — 194,340 Mortgage Backed Securities-commercial — 10 — 10 Collateralized mortgage obligations — 453,909 — 453,909 State and municipal — 206,615 4,725 211,340 Collateralized debt obligations — — 15,117 15,117 TOTAL $ — $ 865,994 $ 19,842 $ 885,836 Derivative Assets 1,568 Derivative Liabilities (1,568 ) December 31, 2014 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 1,467 $ — $ 1,467 Mortgage Backed Securities-residential — 187,936 — 187,936 Mortgage Backed Securities-commercial — 17 — 17 Collateralized mortgage obligations — 484,655 — 484,655 State and municipal — 201,775 5,900 207,675 Collateralized debt obligations — — 15,303 15,303 TOTAL $ — $ 875,850 $ 21,203 $ 897,053 Derivative Assets 1,062 Derivative Liabilities (1,062 ) There were no transfers between Level 1 and Level 2 during 2015 and 2014. The tables below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2015 and the year ended December 31, 2014 . Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended September 30, 2015 State and municipal obligations Collateralized debt obligations Total Beginning balance, July 1 $ 4,725 $ 14,866 $ 19,591 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 307 307 Transfers — — — Settlements — (56 ) (56 ) Ending balance, September 30 $ 4,725 $ 15,117 $ 19,842 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Nine Months Ended September 30, 2015 State and Collateralized Total Beginning balance, January 1 $ 5,900 $ 15,303 $ 21,203 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 122 122 Transfers — — — Settlements (1,175 ) (308 ) (1,483 ) Ending balance, September 30 $ 4,725 $ 15,117 $ 19,842 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2014 State and municipal obligations Collateralized debt obligations Total Beginning balance, January 1 $ 4,525 $ 9,044 $ 13,569 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 7,100 7,100 Purchases 4,000 — 4,000 Settlements (2,625 ) (841 ) (3,466 ) Ending balance, December 31 $ 5,900 $ 15,303 $ 21,203 The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at September 30, 2015 . Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 4,725 Discounted cash flow Discount rate 3.05%-5.50% 0% Other real estate $ 3,382 Sales comparison/income approach Discount rate for age of appraisal and market conditions 5.00%-20.00% Impaired Loans $ 3,033 Sales comparison/income approach Discount rate for age of appraisal and market conditions 0.00%-50.00% The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2014 . Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 5,900 Discounted cash flow Discount rate 3.05%-5.50% 0% Other real estate $ 3,965 Sales comparison/income approach Discount rate for age of appraisal and market conditions 5.00%-20.00% Impaired Loans 11,477 Sales comparison/income approach Discount rate for age of appraisal and market conditions 0.00%-50.00% Impaired loans disclosed in footnote 2, which are measured for impairment using the fair value of collateral, are valued at Level 3. They are carried at a fair value of $3.0 million , after a valuation allowance of $1.2 million at September 30, 2015 and at a fair value of $11.5 million , net of a valuation allowance of $1.9 million at December 31, 2014 . The impact to the provision for loan losses for the three months ended September 30, 2015 and for the 12 months ended December 31, 2014 was a $221 thousand decrease and a $1.2 million decrease, respectively. Other real estate owned is valued at Level 3. Other real estate owned at September 30, 2015 with a value of $3.4 million was reduced $0.7 million for fair value adjustment. At September 30, 2015 other real estate owned was comprised of $2.8 million from commercial loans and $0.6 million from residential loans. Other real estate owned at December 31, 2014 with a value of $4.0 million was reduced $1.1 million for fair value adjustment. At December 31, 2014 other real estate owned was comprised of $3.0 million from commercial loans and $1.0 million from residential loans. Fair value is measured based on the value of the collateral securing those loans, and is determined using several methods. Generally the fair value of real estate is determined based on appraisals by qualified licensed appraisers. Appraisals for real estate generally use three methods to derive value: cost, sales or market comparison and income approach. The cost method bases value on the cost to replace current property. The market comparison evaluates the sales price of similar properties in the same market area. The income approach considers net operating income generated by the property and the investor’s required return. The final fair value is based on a reconciliation of these three approaches. If an appraisal is not available, the fair value may be determined by using a cash flow analysis, a broker’s opinion of value, the net present value of future cash flows, or an observable market price from an active market. Fair value of other real estate is based upon the current appraised values of the properties as determined by qualified licensed appraisers and the Company’s judgment of other relevant market conditions. Appraisals are obtained annually and reductions in value are recorded as a valuation through a charge to expense. The primary unobservable input used by management in estimating fair value are additional discounts to the appraised value to consider market conditions and the age of the appraisal, which are based on management’s past experience in resolving these types of properties. These discounts range from 0% to 50% . Values for non-real estate collateral, such as business equipment, are based on appraisals performed by qualified licensed appraisers or the customers financial statements. Values for non real estate collateral use much higher discounts that real estate collateral. Other real estate and impaired loans carried at fair value are primarily comprised of smaller balance properties. The following tables presents loans identified as impaired by class of loans as of September 30, 2015 and December 31, 2014 , which are all considered Level 3. September 30, 2015 (Dollar amounts in thousands) Carrying Value Allowance for Loan Losses Allocated Fair Value Commercial Commercial & Industrial $ 1,618 $ 278 $ 1,340 Farmland — — — Non Farm, Non Residential 1,506 718 788 Agriculture — — — All Other Commercial 233 — 233 Residential First Liens 904 232 672 Home Equity — — — Junior Liens — — — Multifamily — — — All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 4,261 $ 1,228 $ 3,033 December 31, 2014 (Dollar amounts in thousands) Carrying Value Allowance for Loan Losses Allocated Fair Value Commercial Commercial & Industrial $ 5,874 $ 1,056 $ 4,818 Farmland — — — Non Farm, Non Residential 6,654 753 5,901 Agriculture — — — All Other Commercial 827 102 725 Residential First Liens 33 — 33 Home Equity — — — Junior Liens — — — Multifamily — — — All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 13,388 $ 1,911 $ 11,477 The carrying amounts and estimated fair value of financial instruments at September 30, 2015 and December 31, 2014 , are shown below. Carrying amount is the estimated fair value for cash and due from banks, federal funds sold, short-term borrowings, accrued interest receivable and payable, demand deposits, short-term debt and variable-rate loans or deposits that reprice frequently and fully. Security fair values were described previously. For fixed-rate, non-impaired loans or deposits, variable rate loans or deposits with infrequent repricing or repricing limits, and for longer-term borrowings, fair value is based on discounted cash flows using current market rates applied to the estimated life and considering credit risk. The valuation of impaired loans was described previously. Loan fair value estimates do not necessarily represent an exit price. Fair values of loans held for sale are based on market bids on the loans or similar loans. It was not practicable to determine the fair value of Federal Home Loan Bank stock due to restrictions placed on its transferability. Fair value of debt is based on current rates for similar financing. The fair value of off-balance sheet items is not considered material. September 30, 2015 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 63,278 $ 21,962 $ 41,316 $ — $ 63,278 Federal funds sold — — — — — Securities available-for-sale 885,836 — 865,994 19,842 885,836 Restricted stock 10,838 n/a n/a n/a n/a Loans, net 1,746,742 — — 1,804,961 1,804,961 Accrued interest receivable 12,265 — 3,719 8,546 12,265 Deposits (2,418,589 ) — (2,420,624 ) — (2,420,624 ) Short-term borrowings (23,336 ) — (23,336 ) — (23,336 ) Federal Home Loan Bank advances (13,251 ) — (13,683 ) — (13,683 ) Accrued interest payable (396 ) — (396 ) — (396 ) December 31, 2014 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 78,102 $ 22,597 $ 55,505 $ — $ 78,102 Federal funds sold 8,000 — 8,000 — 8,000 Securities available-for-sale 897,053 — 875,850 21,203 897,053 Restricted stock 16,404 n/a n/a n/a n/a Loans, net 1,762,589 — — 1,810,885 1,810,885 FDIC Indemnification Asset (74 ) — (74 ) — (74 ) Accrued interest receivable 11,593 — 3,183 8,410 11,593 Deposits (2,457,197 ) — (2,459,703 ) — (2,459,703 ) Short-term borrowings (48,015 ) — (48,015 ) — (48,015 ) Federal Home Loan Bank advances (12,886 ) — (13,605 ) — (13,605 ) Accrued interest payable (456 ) — (456 ) — (456 ) |
Short-Term Borrowings
Short-Term Borrowings | 9 Months Ended |
Sep. 30, 2015 | |
Short-term Debt [Abstract] | |
Short-Term Borrowings | Short-Term Borrowings Period–end short-term borrowings were comprised of the following: (000 's) September 30, 2015 December 31, 2014 Federal Funds Purchased $ 550 $ 21,192 Repurchase Agreements 22,786 26,823 $ 23,336 $ 48,015 The Corporation enters into sales of securities under agreements to repurchase. The amounts received under these agreements represent short-term borrowings and are reflected as a liability in the consolidated balance sheets. The securities underlying these agreements are included in investment securities in the consolidated balance sheets. The Corporation has no control over the market value of the securities, which fluctuates due to market conditions. However, the Corporation is obligated to promptly transfer additional securities if the market value of the securities falls below the repurchase agreement price. The Corporation manages this risk by maintaining an unpledged securities portfolio that it believes is sufficient to cover a decline in the market value of the securities sold under agreements to repurchase. Collateral pledged to repurchase agreements by remaining maturity are as follows: September 30, 2015 Repurchase Agreements Remaining Contractual Maturity of the Agreements (Dollar amounts in thousands) Overnight and continuous Up to 30 days 30 - 90 days Greater than 90 days Total Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations $ 10,225 $ — $ — $ 12,561 $ 22,786 December 31, 2014 Repurchase Agreements Remaining Contractual Maturity of the Agreements (Dollar amounts in thousands) Overnight and continuous Up to 30 days 30 - 90 days Greater than 90 days Total Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations $ 14,787 $ 5,748 $ 5,670 $ 618 $ 26,823 |
Components of Net Periodic Bene
Components of Net Periodic Benefit Cost | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Components of Net Periodic Benefit Cost | Components of Net Periodic Benefit Cost Three Months Ended September 30, Nine Months Ended September 30, (000's) (000's) Pension Benefits Post-Retirement Health Benefits Pension Benefits Post-Retirement Health Benefits 2015 2014 2015 2014 2015 2014 2015 2014 Service cost $ 538 $ 510 $ 16 $ 13 $ 1,615 $ 1,530 $ 47 $ 40 Interest cost 879 939 43 44 2,637 2,817 130 131 Expected return on plan assets (863 ) (948 ) — — (2,589 ) (2,845 ) — — Amortization of transition obligation — — — — — — — — Net amortization of prior service cost — (2 ) — — 1 (7 ) — — Net amortization of net (gain) loss 1,185 190 — — 3,555 569 — (1 ) Net Periodic Benefit Cost $ 1,739 $ 689 $ 59 $ 57 $ 5,219 $ 2,064 $ 177 $ 170 Employer Contributions First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2014 that it expected to contribute $1.8 million and $ 1.1 million respectively to its Pension Plan and ESOP and $247 thousand to the Post Retirement Health Benefits Plan in 2015. Contributions of $1.3 million have been made to the Pension Plan thus far in 2015. Contributions of $161 thousand have been made through the first nine months of 2015 for the Post Retirement Health Benefits plan. No contributions have been made in 2015 for the ESOP. The Pension plan was frozen for most employees at the end of 2012 and for those employees there will be discretionary contributions to the ESOP plan and a 401K plan in place of the former Pension benefit. In the first nine months of 2015 and 2014 there has been $1.1 million and $1.0 million of expense accrued for potential contributions to these alternative retirement benefit options. |
New accounting standards
New accounting standards | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New accounting standards | New accounting standards In May 2014, the FASB and the International Accounting Standards Board (the "IASB") jointly issued a comprehensive new revenue recognition standard that will supersede nearly all existing revenue recognition guidance under GAAP and International Financial Reporting Standards ("IFRS"). Previous revenue recognition guidance in GAAP comprised broad revenue recognition concepts together with numerous revenue requirements for particular industries or transactions, which sometimes resulted in different accounting for economically similar transactions. In contrast, IFRS provided limited revenue recognition guidance and, consequently, could be difficult to apply to complex transactions. Accordingly, the FASB and the IASB initiated a joint project to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS that would: (1) Remove inconsistencies and weaknesses in revenue requirements; (2) Provide a more robust framework for addressing revenue issues; (3) Improve comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets; (4) Provide more useful information to users of financial statements through improved disclosure requirements; and (5) Simplify the preparation of financial statements by reducing the number of requirements to which an entity must refer. To meet those objectives, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers." The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies generally will be required to use more judgment and make more estimates than under current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The standard is effective for public entities for interim and annual periods beginning after December 15, 2017. For financial reporting purposes, the standard allows for either full retrospective adoption, meaning the standard is applied to all of the periods presented, or modified retrospective adoption, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. The Corporation is currently evaluating the provisions of ASU No. 2014-09 and will be closely monitoring developments and additional guidance to determine the potential impact the new standard will have on the Corporation's Consolidated Financial Statements. In August 2014, the FASB issued ASU 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. This ASU requires that a mortgage loan be derecognized and that a separate other receivable be recognized if certain conditions are met in the case of government guarantees. The amendments are effective for annual periods, and interim periods within those years, beginning after December 15, 2014. The adoption of this ASU has not had a significant impact on the Corporation's financial statements. In June 2014, the FASB issued ASU No. 2014-11, "Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures." The new guidance aligns the accounting for repurchase-to-maturity transactions and repurchase agreements executed as repurchase financings with the accounting for other typical repurchase agreements. Going forward, these transactions would all be accounted for as secured borrowings. The guidance eliminates sale accounting for repurchase-to-maturity transactions and supersedes the guidance under which a transfer of a financial asset and a contemporaneous repurchase financing could be accounted for on a combined basis as a forward agreement, which has resulted in outcomes referred to as off-balance-sheet accounting. The amendments in the ASU require a new disclosure for transactions economically similar to repurchase agreements in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. The amendments in the ASU also require expanded disclosures, effective for the current reporting period of June 30, 2015, about the nature of collateral pledged in repurchase agreements and similar transactions accounted for as secured borrowings (see Note 5 to the Consolidated Financial Statements). The Corporation adopted the amendments in this ASU effective January 1, 2015. As of September 30, 2015, all of the Company's repurchase agreements were typical in nature (i.e., not repurchase-to-maturity transactions or repurchase agreements executed as a repurchase financing) and are accounted for as secured borrowings. As such, the adoption of ASU No. 2014-11 did not have a material impact on the Corporation's Consolidated Financial Statements. |
Acquisitions and FDIC Indemnifi
Acquisitions and FDIC Indemnification Asset | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Acquisitions and FDIC Indemnification Asset | Acquisitions and FDIC Indemnification Asset The Bank is party to a loss sharing agreement with the FDIC as a result of a 2009 acquisition. Under the loss-sharing agreement (“LSA”), the Bank will share in the losses on assets covered under the agreement (referred to as covered assets). On losses up to $29 million , the FDIC has agreed to reimburse the Bank for 80 percent of the losses. On losses exceeding $29 million , the FDIC has agreed to reimburse the Bank for 95 percent of the losses. The loss-sharing agreement is subject to following servicing procedures as specified in the agreement with the FDIC. Loans acquired that are subject to the loss-sharing agreement with the FDIC are referred to as covered loans for disclosure purposes. Since the acquisition date the Bank has been reimbursed $ 19.4 million for losses and carrying expenses and currently carries an immaterial balance in the indemnification asset. The balance of loans covered by the loss share agreement at September 30, 2015 and December 31, 2014 totaled $6.5 million and $7.3 million , respectively. The only loans still covered by the loss share agreement are the single family loans; however recoveries on non-single family loans are still subject to sharing with the FDIC until 2017. FASB ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality, applies to a loan with evidence of deterioration of credit quality since origination, acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. FASB ASC 310-30 prohibits carrying over or creating an allowance for loan losses upon initial recognition. The carrying amount of loans accounted for in accordance with FASB ASC 310-30 at September 30, 2015 and 2014 are shown in the following table: 2015 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, July 1, $ 4,329 $ 1,547 $ 5,876 Discount accretion — — — Disposals (105 ) (9 ) (114 ) ASC 310-30 Loans, September 30, $ 4,224 $ 1,538 $ 5,762 2015 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, January 1, $ 4,803 $ 1,571 $ 6,374 Discount accretion — — — Disposals (579 ) (33 ) (612 ) ASC 310-30 Loans, September 30, $ 4,224 $ 1,538 $ 5,762 2014 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, July 1, $ 7,337 $ 1,885 $ 9,222 Discount accretion — — — Disposals (1,569 ) (108 ) (1,677 ) ASC 310-30 Loans, September 30, $ 5,768 $ 1,777 $ 7,545 2014 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, January 1, $ 7,676 $ 2,409 $ 10,085 Discount accretion — — — Disposals (1,908 ) (632 ) (2,540 ) ASC 310-30 Loans, September 30, $ 5,768 $ 1,777 $ 7,545 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | 9. Accumulated Other Comprehensive Income The following table summarizes the changes, net of tax within each classification of accumulated other comprehensive income for the three and nine months ended September 30, 2015 and 2014 . Unrealized gains and 2015 Losses on available- for-sale Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 7,476 $ (21,524 ) $ (14,048 ) Change in other comprehensive income before reclassification 4,464 — 4,464 Amounts reclassified from accumulated other comprehensive income 7 819 826 Net Current period other comprehensive other income 4,471 819 5,290 Ending balance, September 30, $ 11,947 $ (20,705 ) $ (8,758 ) Unrealized gains and 2015 Losses on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 10,278 $ (24,807 ) $ (14,529 ) Change in other comprehensive income before reclassification 1,654 — 1,654 Amounts reclassified from accumulated other comprehensive income 15 4,102 4,117 Net Current period other comprehensive other income 1,669 4,102 5,771 Ending balance, September 30, $ 11,947 $ (20,705 ) $ (8,758 ) Unrealized gains and 2014 Losses on available- for-sale Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 5,784 $ (10,104 ) $ (4,320 ) Change in other comprehensive income before reclassification 1,879 — 1,879 Amounts reclassified from accumulated other comprehensive income — 116 116 Net Current period other comprehensive other income 1,879 116 1,995 Ending balance, September 30, $ 7,663 $ (9,988 ) $ (2,325 ) Unrealized gains and 2014 Losses on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ (3,635 ) $ (10,334 ) $ (13,969 ) Change in other comprehensive income before reclassification 11,297 — 11,297 Amounts reclassified from accumulated other comprehensive income 1 346 347 Net Current period other comprehensive other income 11,298 346 11,644 Ending balance, September 30, $ 7,663 $ (9,988 ) $ (2,325 ) Balance at Current Period Balance at (Dollar amounts in thousands) 7/1/2015 Change 9/30/2015 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 4,429 $ 4,231 $ 8,660 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 3,047 240 3,287 Total unrealized loss on securities available-for-sale $ 7,476 $ 4,471 $ 11,947 Unrealized loss on retirement plans (21,524 ) 819 (20,705 ) TOTAL $ (14,048 ) $ 5,290 $ (8,758 ) Balance at Current Period Balance at (Dollar amounts in thousands) 12/31/2014 Change 9/30/2015 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 7,164 $ 1,496 $ 8,660 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 3,114 173 3,287 Total unrealized loss on securities available-for-sale $ 10,278 $ 1,669 $ 11,947 Unrealized loss on retirement plans (24,807 ) 4,102 (20,705 ) TOTAL $ (14,529 ) $ 5,771 $ (8,758 ) Balance at Current Period Balance at (Dollar amounts in thousands) 7/1/2014 Change 9/30/2014 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 3,296 $ 831 $ 4,127 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,488 1,048 3,536 Total unrealized loss on securities available-for-sale $ 5,784 $ 1,879 $ 7,663 Unrealized loss on retirement plans (10,104 ) 116 (9,988 ) TOTAL $ (4,320 ) $ 1,995 $ (2,325 ) Balance at Current Period Balance at (Dollar amounts in thousands) 12/31/2013 Change 9/30/2014 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ (2,499 ) $ 6,626 $ 4,127 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment (1,136 ) 4,672 3,536 Total unrealized loss on securities available-for-sale $ (3,635 ) $ 11,298 $ 7,663 Unrealized loss on retirement plans (10,334 ) 346 (9,988 ) TOTAL $ (13,969 ) $ 11,644 $ (2,325 ) Three Months Ended September 30, 2015 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 9 Net securities gains (losses) on available-for-sale (2 ) Income tax expense securities $ 7 Net of tax Amortization of $ 1,365 (a) Salary and benefits retirement plan items (546 ) Income tax expense $ 819 Net of tax Total reclassifications for the period $ 826 Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details). Nine Months Ended September 30, 2015 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 23 Net securities gains (losses) on available-for-sale (8 ) Income tax expense securities $ 15 Net of tax Amortization of $ 6,837 (a) Salary and benefits retirement plan items (2,735 ) Income tax expense $ 4,102 Net of tax Total reclassifications for the period $ 4,117 Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details). Three Months Ended September 30, 2014 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ — Net securities gains (losses) on available-for-sale — Income tax expense securities $ — Net of tax Amortization of $ (237 ) (a) Salary and benefits retirement plan items 121 Income tax expense $ (116 ) Net of tax Total reclassifications for the period $ (116 ) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details). Nine Months Ended September 30, 2014 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ (1 ) Net securities gains (losses) on available-for-sale — Income tax expense securities $ (1 ) Net of tax Amortization of $ (711 ) (a) Salary and benefits retirement plan items 365 Income tax expense $ (346 ) Net of tax Total reclassifications for the period $ (347 ) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details). |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Loans and Leases Receivable, Allowance [Abstract] | |
Schedule of allowances for loan losses by portfolio segment | The following table presents the activity of the allowance for loan losses by portfolio segment for the three months ended September 30. Allowance for Loan Losses: September 30, 2015 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 10,931 $ 1,760 $ 4,678 $ 2,492 $ 19,861 Provision for loan losses 1,338 158 1,052 (1,498 ) 1,050 Loans charged -off (1,874 ) (220 ) (1,201 ) — (3,295 ) Recoveries 1,694 196 419 — 2,309 Ending Balance $ 12,089 $ 1,894 $ 4,948 $ 994 $ 19,925 Allowance for Loan Losses: September 30, 2014 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 10,850 $ 1,374 $ 3,769 $ 2,262 $ 18,255 Provision for loan losses* 589 72 1,047 (178 ) 1,530 Loans charged -off (1,310 ) (153 ) (1,193 ) — (2,656 ) Recoveries 51 34 293 — 378 Ending Balance $ 10,180 $ 1,327 $ 3,916 $ 2,084 $ 17,507 * Provision before decrease of $ 24 thousand in 2014 for increase in FDIC indemnification asset |
Allocation of the allowance for loan losses by portfolio segment based on the impairment method | The following table presents the allocation of the allowance for loan losses and the recorded investment in loans by portfolio segment and based on the impairment method at September 30, 2015 and December 31, 2014 . Allowance for Loan Losses September 30, 2015 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Individually evaluated for impairment $ 996 $ 232 $ — $ — $ 1,228 Collectively evaluated for impairment 10,902 1,662 4,948 994 18,506 Acquired with deteriorated credit quality 191 — — — 191 Ending Balance $ 12,089 $ 1,894 $ 4,948 $ 994 $ 19,925 Loans: September 30, 2015 (Dollar amounts in thousands) Commercial Residential Consumer Total Individually evaluated for impairment $ 9,648 $ 934 $ — $ 10,582 Collectively evaluated for impairment 1,032,992 450,198 273,436 1,756,626 Acquired with deteriorated credit quality 4,194 1,586 — 5,780 Ending Balance $ 1,046,834 $ 452,718 $ 273,436 $ 1,772,988 Allowance for Loan Losses: December 31, 2014 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Individually evaluated for impairment 1,911 — — — 1,911 Collectively evaluated for impairment 8,733 1,365 4,370 2,180 16,648 Acquired with deteriorated credit quality 271 9 — — 280 Ending Balance $ 10,915 $ 1,374 $ 4,370 $ 2,180 $ 18,839 Loans December 31, 2014 (Dollar amounts in thousands) Commercial Residential Consumer Total Individually evaluated for impairment 14,573 33 — 14,606 Collectively evaluated for impairment 1,030,949 468,872 267,880 1,767,701 Acquired with deteriorated credit quality 4,887 1,631 — 6,518 Ending Balance $ 1,050,409 $ 470,536 $ 267,880 $ 1,788,825 |
Schedule of loans individually evaluated for impairment by class of loans | The following tables present loans individually evaluated for impairment by class of loans. September 30, 2015 Unpaid Principal Recorded Allowance for Loan Losses Average Recorded Interest Income Cash Basis Interest (Dollar amounts in thousands) Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial Commercial & Industrial $ 1,565 $ 1,272 $ — $ 1,939 $ — $ — Farmland — — — — — — Non Farm, Non Residential 3,243 3,243 — 1,800 — — Agriculture — — — — — — All Other Commercial 1,776 1,776 — 1,029 — — Residential First Liens 30 30 — 15 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 1,618 1,618 278 4,080 — — Farmland — — — — — — Non Farm, Non Residential 1,506 1,506 718 4,248 — — Agriculture — — — — — — All Other Commercial 233 233 — 548 — — Residential First Liens 904 904 232 357 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 10,875 $ 10,582 $ 1,228 $ 14,016 $ — $ — December 31, 2014 Unpaid Principal Recorded Allowance for Loan Losses Average Recorded Interest Income Cash Basis Interest Income (Dollar amounts in thousands) Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial Commercial & Industrial $ 1,200 $ 926 $ — $ 2,589 $ — $ — Farmland — — — — — — Non Farm, Non Residential — — — 58 — — Agriculture — — — — — — All Other Commercial 292 292 — 58 — — Residential First Liens — — — 5 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 7,388 5,874 1,056 6,177 — — Farmland — — — — — — Non Farm, Non Residential 6,654 6,654 753 6,698 — — Agriculture — — — — — — All Other Commercial 827 827 102 1,112 — — Residential First Liens 33 33 — 35 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 16,394 $ 14,606 $ 1,911 $ 16,732 $ — $ — |
Schedule of non-performing loans | The tables below presents the recorded investment in non-performing loans. September 30, 2015 Loans Past Due Over 90 Day Still Troubled Debt (Dollar amounts in thousands) Accruing Accruing Nonaccrual Nonaccrual Commercial Commercial & Industrial $ — $ 5 $ 430 $ 3,943 Farmland — — — 385 Non Farm, Non Residential — 7 3,190 2,666 Agriculture 588 — — 289 All Other Commercial — — — 1,993 Residential First Liens 798 4,558 995 5,062 Home Equity 62 — — 295 Junior Liens 13 — — 230 Multifamily — — — — All Other Residential — — — 115 Consumer Motor Vehicle 234 181 11 150 All Other Consumer 6 40 423 984 TOTAL $ 1,701 $ 4,791 $ 5,049 $ 16,112 December 31, 2014 Loans Past Due Over 90 Day Still Troubled Debt (Dollar amounts in thousands) Accruing Accruing Nonaccrual Nonaccrual Commercial Commercial & Industrial $ — $ 7 $ 4,961 $ 3,720 Farmland — — — 79 Non Farm, Non Residential — 10 3,987 3,388 Agriculture — — — 767 All Other Commercial — — — 1,258 Residential First Liens 603 4,357 842 3,861 Home Equity 88 — — 404 Junior Liens 12 — — 275 Multifamily — — — — All Other Residential 5 — — 111 Consumer Motor Vehicle 162 257 83 210 All Other Consumer 3 1 269 961 TOTAL $ 873 $ 4,632 $ 10,142 $ 15,034 |
Troubled Debt Restructurings on Financing Receivables | During the three and nine months ended September 30, 2015 and 2014 , the terms of certain loans were modified as troubled debt restructurings (TDRs). The following tables present the activity for TDR's. 2015 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, 8,705 5,589 657 14,951 Added — 16 50 66 Charged Off — — (4 ) (4 ) Payments (5,081 ) (63 ) (41 ) (5,185 ) September 30, 3,624 5,542 662 9,828 2015 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, 8,955 5,189 614 14,758 Added — 668 239 907 Charged Off — (62 ) (44 ) (106 ) Payments (5,331 ) (253 ) (147 ) (5,731 ) September 30, 3,624 5,542 662 9,828 2014 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, 9,206 4,956 559 14,721 Added — 340 115 455 Charged Off — (67 ) (24 ) (91 ) Payments (122 ) (124 ) (81 ) (327 ) September 30, 9,084 5,105 569 14,758 2014 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, 12,327 4,330 644 17,301 Added 441 1,141 213 1,795 Charged Off (1,069 ) (67 ) (63 ) (1,199 ) Payments (2,615 ) (299 ) (225 ) (3,139 ) September 30, 9,084 5,105 569 14,758 |
Aging of recorded investment in loans by past due category and class of loans | The following tables presents the aging of the recorded investment in loans by past due category and class of loans. September 30, 2015 30-59 Days 60-89 Days Greater than 90 days Total (Dollar amounts in thousands) Past Due Past Due Past Due Past Due Current Total Commercial Commercial & Industrial $ 190 $ 321 $ 1,825 $ 2,336 $ 474,550 $ 476,886 Farmland 25 567 — 592 103,759 104,351 Non Farm, Non Residential 157 — 321 478 211,797 212,275 Agriculture 306 368 615 1,289 130,491 131,780 All Other Commercial 54 — 148 202 121,340 121,542 Residential First Liens 1,083 813 1,723 3,619 298,948 302,567 Home Equity 154 61 161 376 37,837 38,213 Junior Liens 306 87 187 580 30,602 31,182 Multifamily — — — — 71,916 71,916 All Other Residential — — — — 8,840 8,840 Consumer Motor Vehicle 2,619 495 251 3,365 247,719 251,084 All Other Consumer 94 49 6 149 22,203 22,352 TOTAL $ 4,988 $ 2,761 $ 5,237 $ 12,986 $ 1,760,002 $ 1,772,988 December 31, 2014 30-59 Days 60-89 Days Greater than 90 days Total (Dollar amounts in thousands) Past Due Past Due Past Due Past Due Current Total Commercial Commercial & Industrial $ 574 $ 416 $ 3,046 $ 4,036 $ 451,549 $ 455,585 Farmland — — — — 95,452 95,452 Non Farm, Non Residential 1,528 68 202 1,798 232,440 234,238 Agriculture 246 18 502 766 149,099 149,865 All Other Commercial 255 — — 255 115,014 115,269 Residential First Liens 6,011 963 1,522 8,496 308,068 316,564 Home Equity 141 33 310 484 40,043 40,527 Junior Liens 270 83 217 570 31,487 32,057 Multifamily — — — — 72,310 72,310 All Other Residential 112 — 5 117 8,961 9,078 Consumer Motor Vehicle 3,026 557 180 3,763 242,406 246,169 All Other Consumer 114 7 3 124 21,587 21,711 TOTAL $ 12,277 $ 2,145 $ 5,987 $ 20,409 $ 1,768,416 $ 1,788,825 |
Analysis of risk category of loans by class of loans | Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are either less than $100 thousand or are included in groups of homogeneous loans. As of September 30, 2015 and December 31, 2014 , and based on the most recent analysis performed, the risk category of loans by class of loans are as follows: September 30, 2015 (Dollar amounts in thousands) Pass Special Mention Substandard Doubtful Not Rated Total Commercial Commercial & Industrial $ 408,039 $ 28,331 $ 31,171 $ 1,295 $ 6,607 $ 475,443 Farmland 90,255 7,354 4,825 — 16 102,450 Non Farm, Non Residential 184,252 8,191 19,380 36 — 211,859 Agriculture 111,296 9,804 8,790 27 166 130,083 All Other Commercial 105,584 2,691 11,193 101 1,273 120,842 Residential First Liens 98,630 4,591 8,633 718 189,034 301,606 Home Equity 11,097 453 1,348 11 25,247 38,156 Junior Liens 7,578 119 482 59 22,862 31,100 Multifamily 69,077 1,616 1,026 — 25 71,744 All Other Residential 902 — 25 — 7,892 8,819 Consumer Motor Vehicle 10,555 498 508 — 238,435 249,996 All Other Consumer 3,181 89 121 15 18,833 22,239 TOTAL $ 1,100,446 $ 63,737 $ 87,502 $ 2,262 $ 510,390 $ 1,764,337 December 31, 2014 (Dollar amounts in thousands) Pass Special Mention Substandard Doubtful Not Rated Total Commercial Commercial & Industrial $ 393,449 $ 29,081 $ 24,013 $ 2,900 $ 4,717 $ 454,160 Farmland 85,772 7,618 436 — 13 93,839 Non Farm, Non Residential 186,346 21,765 25,613 36 — 233,760 Agriculture 138,713 7,399 1,746 177 67 148,102 All Other Commercial 101,942 4,356 7,055 33 1,275 114,661 Residential First Liens 104,854 5,929 7,733 1,035 196,008 315,559 Home Equity 12,592 375 1,374 6 26,116 40,463 Junior Liens 8,112 173 561 63 23,053 31,962 Multifamily 69,080 1,801 1,249 — 3 72,133 All Other Residential 1,799 — 28 — 7,228 9,055 Consumer Motor Vehicle 11,135 402 224 — 233,302 245,063 All Other Consumer 3,169 141 87 21 18,175 21,593 TOTAL $ 1,116,963 $ 79,040 $ 70,119 $ 4,271 $ 509,957 $ 1,780,350 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized cost and fair value of investments classified as available-for-sale | September 30, 2015 (Dollar amounts in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government agencies $ 11,059 $ 61 $ — $ 11,120 Mortgage Backed Securities - Residential 188,184 6,391 (235 ) 194,340 Mortgage Backed Securities - Commercial 10 — — 10 Collateralized Mortgage Obligations 453,593 4,019 (3,703 ) 453,909 State and Municipal Obligations 204,279 7,438 (377 ) 211,340 Collateralized Debt Obligations 9,715 5,402 — 15,117 TOTAL $ 866,840 $ 23,311 $ (4,315 ) $ 885,836 December 31, 2014 (Dollar amounts in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government agencies $ 1,411 $ 56 $ — $ 1,467 Mortgage Backed Securities-residential 180,673 7,593 (330 ) 187,936 Mortgage Backed Securities-commercial 17 — — 17 Collateralized mortgage obligations 489,765 2,513 (7,623 ) 484,655 State and municipal 198,875 9,019 (219 ) 207,675 Collateralized debt obligations 10,205 5,115 (17 ) 15,303 TOTAL $ 880,946 $ 24,296 $ (8,189 ) $ 897,053 |
Schedule of contractual maturities of debt securities | Contractual maturities of debt securities at September 30, 2015 were as follows. Securities not due at a single maturity or with no maturity date, primarily mortgage-backed and equity securities are shown separately. Available-for-Sale Amortized Fair (Dollar amounts in thousands) Cost Value Due in one year or less $ 3,399 $ 3,426 Due after one but within five years 40,291 41,512 Due after five but within ten years 88,042 91,552 Due after ten years 93,321 101,087 225,053 237,577 Mortgage-backed securities and collateralized mortgage obligations 641,787 648,259 TOTAL $ 866,840 $ 885,836 |
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position | The following tables show the securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in continuous unrealized loss position, at September 30, 2015 and December 31, 2014 . September 30, 2015 Less Than 12 Months More Than 12 Months Total Unrealized Unrealized Unrealized (Dollar amounts in thousands) Fair Value Losses Fair Value Losses Fair Value Losses Mortgage Backed Securities - Residential $ 18,372 $ (180 ) $ 19,957 $ (55 ) $ 38,329 $ (235 ) Collateralized mortgage obligations 147,188 (3,318 ) 55,710 (385 ) 202,898 (3,703 ) State and municipal obligations 4,372 (101 ) 23,387 (276 ) 27,759 (377 ) Total temporarily impaired securities $ 169,932 $ (3,599 ) $ 99,054 $ (716 ) $ 268,986 $ (4,315 ) December 31, 2014 Less Than 12 Months More Than 12 Months Total Unrealized Unrealized Unrealized (Dollar amounts in thousands) Fair Value Losses Fair Value Losses Fair Value Losses Mortgage Backed Securities - Residential $ — $ — $ 23,849 $ (330 ) $ 23,849 $ (330 ) Collateralized mortgage obligations 50,832 (128 ) 264,940 (7,495 ) 315,772 (7,623 ) State and municipal obligations 6,500 (35 ) 10,547 (184 ) 17,047 (219 ) Collateralized Debt Obligations — — 200 (17 ) 200 (17 ) Total temporarily impaired securities $ 57,332 $ (163 ) $ 299,536 $ (8,026 ) $ 356,868 $ (8,189 ) |
Rollforward of the credit losses recognized in earnings | The table below presents a rollforward of the credit losses recognized in earnings for the three and nine month periods ended September 30, 2015 and 2014 : Three Months Ended September 30, Nine Months Ended September 30, (Dollar amounts in thousands) 2015 2014 2015 2014 Beginning balance $ 13,995 $ 14,079 $ 14,050 $ 14,079 Increases to the amount related to the credit Loss for which other-than-temporary was previously recognized — — — — Reductions for increases in cash flows collected — (29 ) (55 ) (29 ) Amounts realized for securities sold during the period — — — — Ending balance $ 13,995 $ 14,050 $ 13,995 $ 14,050 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of assets and liabilities measured at fair value | The fair value of derivatives is based on valuation models using observable market data as of the measurement date (Level 2 inputs). September 30, 2015 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 11,120 $ — $ 11,120 Mortgage Backed Securities-residential — 194,340 — 194,340 Mortgage Backed Securities-commercial — 10 — 10 Collateralized mortgage obligations — 453,909 — 453,909 State and municipal — 206,615 4,725 211,340 Collateralized debt obligations — — 15,117 15,117 TOTAL $ — $ 865,994 $ 19,842 $ 885,836 Derivative Assets 1,568 Derivative Liabilities (1,568 ) December 31, 2014 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 1,467 $ — $ 1,467 Mortgage Backed Securities-residential — 187,936 — 187,936 Mortgage Backed Securities-commercial — 17 — 17 Collateralized mortgage obligations — 484,655 — 484,655 State and municipal — 201,775 5,900 207,675 Collateralized debt obligations — — 15,303 15,303 TOTAL $ — $ 875,850 $ 21,203 $ 897,053 Derivative Assets 1,062 Derivative Liabilities (1,062 ) |
Roll forward of financial instruments having fair value measurements using significant unobservable inputs (Level 3) | The tables below presents a reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and nine months ended September 30, 2015 and the year ended December 31, 2014 . Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended September 30, 2015 State and municipal obligations Collateralized debt obligations Total Beginning balance, July 1 $ 4,725 $ 14,866 $ 19,591 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 307 307 Transfers — — — Settlements — (56 ) (56 ) Ending balance, September 30 $ 4,725 $ 15,117 $ 19,842 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Nine Months Ended September 30, 2015 State and Collateralized Total Beginning balance, January 1 $ 5,900 $ 15,303 $ 21,203 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 122 122 Transfers — — — Settlements (1,175 ) (308 ) (1,483 ) Ending balance, September 30 $ 4,725 $ 15,117 $ 19,842 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2014 State and municipal obligations Collateralized debt obligations Total Beginning balance, January 1 $ 4,525 $ 9,044 $ 13,569 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 7,100 7,100 Purchases 4,000 — 4,000 Settlements (2,625 ) (841 ) (3,466 ) Ending balance, December 31 $ 5,900 $ 15,303 $ 21,203 |
Quantitative information about recurring and non-recurring Level 3 | The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at September 30, 2015 . Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 4,725 Discounted cash flow Discount rate 3.05%-5.50% 0% Other real estate $ 3,382 Sales comparison/income approach Discount rate for age of appraisal and market conditions 5.00%-20.00% Impaired Loans $ 3,033 Sales comparison/income approach Discount rate for age of appraisal and market conditions 0.00%-50.00% The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31, 2014 . Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 5,900 Discounted cash flow Discount rate 3.05%-5.50% 0% Other real estate $ 3,965 Sales comparison/income approach Discount rate for age of appraisal and market conditions 5.00%-20.00% Impaired Loans 11,477 Sales comparison/income approach Discount rate for age of appraisal and market conditions 0.00%-50.00% |
Schedule of loans identified as impaired by class of loans | The following tables presents loans identified as impaired by class of loans as of September 30, 2015 and December 31, 2014 , which are all considered Level 3. September 30, 2015 (Dollar amounts in thousands) Carrying Value Allowance for Loan Losses Allocated Fair Value Commercial Commercial & Industrial $ 1,618 $ 278 $ 1,340 Farmland — — — Non Farm, Non Residential 1,506 718 788 Agriculture — — — All Other Commercial 233 — 233 Residential First Liens 904 232 672 Home Equity — — — Junior Liens — — — Multifamily — — — All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 4,261 $ 1,228 $ 3,033 December 31, 2014 (Dollar amounts in thousands) Carrying Value Allowance for Loan Losses Allocated Fair Value Commercial Commercial & Industrial $ 5,874 $ 1,056 $ 4,818 Farmland — — — Non Farm, Non Residential 6,654 753 5,901 Agriculture — — — All Other Commercial 827 102 725 Residential First Liens 33 — 33 Home Equity — — — Junior Liens — — — Multifamily — — — All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 13,388 $ 1,911 $ 11,477 |
Schedule of carrying amount and estimated fair value of financial instruments | The fair value of off-balance sheet items is not considered material. September 30, 2015 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 63,278 $ 21,962 $ 41,316 $ — $ 63,278 Federal funds sold — — — — — Securities available-for-sale 885,836 — 865,994 19,842 885,836 Restricted stock 10,838 n/a n/a n/a n/a Loans, net 1,746,742 — — 1,804,961 1,804,961 Accrued interest receivable 12,265 — 3,719 8,546 12,265 Deposits (2,418,589 ) — (2,420,624 ) — (2,420,624 ) Short-term borrowings (23,336 ) — (23,336 ) — (23,336 ) Federal Home Loan Bank advances (13,251 ) — (13,683 ) — (13,683 ) Accrued interest payable (396 ) — (396 ) — (396 ) December 31, 2014 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 78,102 $ 22,597 $ 55,505 $ — $ 78,102 Federal funds sold 8,000 — 8,000 — 8,000 Securities available-for-sale 897,053 — 875,850 21,203 897,053 Restricted stock 16,404 n/a n/a n/a n/a Loans, net 1,762,589 — — 1,810,885 1,810,885 FDIC Indemnification Asset (74 ) — (74 ) — (74 ) Accrued interest receivable 11,593 — 3,183 8,410 11,593 Deposits (2,457,197 ) — (2,459,703 ) — (2,459,703 ) Short-term borrowings (48,015 ) — (48,015 ) — (48,015 ) Federal Home Loan Bank advances (12,886 ) — (13,605 ) — (13,605 ) Accrued interest payable (456 ) — (456 ) — (456 ) |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Short-term Debt [Abstract] | |
Schedule of short-term borrowings | Period–end short-term borrowings were comprised of the following: (000 's) September 30, 2015 December 31, 2014 Federal Funds Purchased $ 550 $ 21,192 Repurchase Agreements 22,786 26,823 $ 23,336 $ 48,015 |
Components of Net Periodic Be21
Components of Net Periodic Benefit Cost (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Net Benefit Costs | Three Months Ended September 30, Nine Months Ended September 30, (000's) (000's) Pension Benefits Post-Retirement Health Benefits Pension Benefits Post-Retirement Health Benefits 2015 2014 2015 2014 2015 2014 2015 2014 Service cost $ 538 $ 510 $ 16 $ 13 $ 1,615 $ 1,530 $ 47 $ 40 Interest cost 879 939 43 44 2,637 2,817 130 131 Expected return on plan assets (863 ) (948 ) — — (2,589 ) (2,845 ) — — Amortization of transition obligation — — — — — — — — Net amortization of prior service cost — (2 ) — — 1 (7 ) — — Net amortization of net (gain) loss 1,185 190 — — 3,555 569 — (1 ) Net Periodic Benefit Cost $ 1,739 $ 689 $ 59 $ 57 $ 5,219 $ 2,064 $ 177 $ 170 |
Acquisitions and FDIC Indemni22
Acquisitions and FDIC Indemnification Asset (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Schedule of carrying amount of covered assets | 2015 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, July 1, $ 4,329 $ 1,547 $ 5,876 Discount accretion — — — Disposals (105 ) (9 ) (114 ) ASC 310-30 Loans, September 30, $ 4,224 $ 1,538 $ 5,762 2015 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, January 1, $ 4,803 $ 1,571 $ 6,374 Discount accretion — — — Disposals (579 ) (33 ) (612 ) ASC 310-30 Loans, September 30, $ 4,224 $ 1,538 $ 5,762 2014 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, July 1, $ 7,337 $ 1,885 $ 9,222 Discount accretion — — — Disposals (1,569 ) (108 ) (1,677 ) ASC 310-30 Loans, September 30, $ 5,768 $ 1,777 $ 7,545 |
Accumulated Other Comprehensi23
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | The following table summarizes the changes, net of tax within each classification of accumulated other comprehensive income for the three and nine months ended September 30, 2015 and 2014 . Unrealized gains and 2015 Losses on available- for-sale Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 7,476 $ (21,524 ) $ (14,048 ) Change in other comprehensive income before reclassification 4,464 — 4,464 Amounts reclassified from accumulated other comprehensive income 7 819 826 Net Current period other comprehensive other income 4,471 819 5,290 Ending balance, September 30, $ 11,947 $ (20,705 ) $ (8,758 ) Unrealized gains and 2015 Losses on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 10,278 $ (24,807 ) $ (14,529 ) Change in other comprehensive income before reclassification 1,654 — 1,654 Amounts reclassified from accumulated other comprehensive income 15 4,102 4,117 Net Current period other comprehensive other income 1,669 4,102 5,771 Ending balance, September 30, $ 11,947 $ (20,705 ) $ (8,758 ) Unrealized gains and 2014 Losses on available- for-sale Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 5,784 $ (10,104 ) $ (4,320 ) Change in other comprehensive income before reclassification 1,879 — 1,879 Amounts reclassified from accumulated other comprehensive income — 116 116 Net Current period other comprehensive other income 1,879 116 1,995 Ending balance, September 30, $ 7,663 $ (9,988 ) $ (2,325 ) Unrealized gains and 2014 Losses on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ (3,635 ) $ (10,334 ) $ (13,969 ) Change in other comprehensive income before reclassification 11,297 — 11,297 Amounts reclassified from accumulated other comprehensive income 1 346 347 Net Current period other comprehensive other income 11,298 346 11,644 Ending balance, September 30, $ 7,663 $ (9,988 ) $ (2,325 ) |
Schedule Of Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment | Balance at Current Period Balance at (Dollar amounts in thousands) 12/31/2014 Change 9/30/2015 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 7,164 $ 1,496 $ 8,660 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 3,114 173 3,287 Total unrealized loss on securities available-for-sale $ 10,278 $ 1,669 $ 11,947 Unrealized loss on retirement plans (24,807 ) 4,102 (20,705 ) TOTAL $ (14,529 ) $ 5,771 $ (8,758 ) Balance at Current Period Balance at (Dollar amounts in thousands) 7/1/2014 Change 9/30/2014 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 3,296 $ 831 $ 4,127 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,488 1,048 3,536 Total unrealized loss on securities available-for-sale $ 5,784 $ 1,879 $ 7,663 Unrealized loss on retirement plans (10,104 ) 116 (9,988 ) TOTAL $ (4,320 ) $ 1,995 $ (2,325 ) Balance at Current Period Balance at (Dollar amounts in thousands) 12/31/2013 Change 9/30/2014 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ (2,499 ) $ 6,626 $ 4,127 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment (1,136 ) 4,672 3,536 Total unrealized loss on securities available-for-sale $ (3,635 ) $ 11,298 $ 7,663 Unrealized loss on retirement plans (10,334 ) 346 (9,988 ) TOTAL $ (13,969 ) $ 11,644 $ (2,325 ) Three Months Ended September 30, 2015 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 9 Net securities gains (losses) on available-for-sale (2 ) Income tax expense securities $ 7 Net of tax Amortization of $ 1,365 (a) Salary and benefits retirement plan items (546 ) Income tax expense $ 819 Net of tax Total reclassifications for the period $ 826 Net of tax |
Accumulated Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent | Three Months Ended September 30, 2015 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 9 Net securities gains (losses) on available-for-sale (2 ) Income tax expense securities $ 7 Net of tax Amortization of $ 1,365 (a) Salary and benefits retirement plan items (546 ) Income tax expense $ 819 Net of tax Total reclassifications for the period $ 826 Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details). Nine Months Ended September 30, 2015 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ 23 Net securities gains (losses) on available-for-sale (8 ) Income tax expense securities $ 15 Net of tax Amortization of $ 6,837 (a) Salary and benefits retirement plan items (2,735 ) Income tax expense $ 4,102 Net of tax Total reclassifications for the period $ 4,117 Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details). Three Months Ended September 30, 2014 Details about accumulated Amount reclassified from Affected line item in other comprehensive accumulated other the statement where income components comprehensive income net income is presented (in thousands) Unrealized gains and losses $ — Net securities gains (losses) on available-for-sale — Income tax expense securities $ — Net of tax Amortization of $ (237 ) (a) Salary and benefits retirement plan items 121 Income tax expense $ (116 ) Net of tax Total reclassifications for the period $ (116 ) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 7 for additional details). |
Significant Accounting Polici24
Significant Accounting Policies (Details Textual) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015USD ($)segmentshares | Sep. 30, 2014USD ($)shares | |
Accounting Policies [Abstract] | ||
Number of Reportable Segments | segment | 1 | |
Vesting period | 3 years | |
Incremental vesting rights for first year (as a percent) | 33.00% | |
Incremental vesting rights for second year (as a percent) | 33.00% | |
Incremental vesting rights for third year (as a percent) | 34.00% | |
Number of shares awarded | shares | 19,683 | 22,019 |
Grant date value | $ 667 | $ 708 |
Allowance for Loan Losses (Deta
Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |||||
Allowance for Loan Losses: | ||||||||
Beginning balance | $ 19,861 | $ 18,255 | $ 18,839 | $ 20,068 | ||||
Provision for loan losses | 1,050 | [1] | 1,530 | [2] | 3,650 | [1] | 2,435 | [2] |
Loans charged off | (3,295) | (2,656) | (6,597) | (7,142) | ||||
Recoveries | 2,309 | 378 | 4,033 | 2,146 | ||||
Ending Balance | 19,925 | 17,507 | 19,925 | 17,507 | ||||
Commercial Portfolio Segment [Member] | ||||||||
Allowance for Loan Losses: | ||||||||
Beginning balance | 10,931 | 10,850 | 10,915 | 12,450 | ||||
Provision for loan losses | 1,338 | [1] | 589 | [2] | 1,505 | [1] | 270 | [2] |
Loans charged off | (1,874) | (1,310) | (2,482) | (2,956) | ||||
Recoveries | 1,694 | 51 | 2,151 | 416 | ||||
Ending Balance | 12,089 | 10,180 | 12,089 | 10,180 | ||||
Residential Portfolio Segment [Member] | ||||||||
Allowance for Loan Losses: | ||||||||
Beginning balance | 1,760 | 1,374 | 1,374 | 1,585 | ||||
Provision for loan losses | 158 | [1] | 72 | [2] | 811 | [1] | 84 | [2] |
Loans charged off | (220) | (153) | (626) | (958) | ||||
Recoveries | 196 | 34 | 335 | 616 | ||||
Ending Balance | 1,894 | 1,327 | 1,894 | 1,327 | ||||
Consumer Portfolio Segment [Member] | ||||||||
Allowance for Loan Losses: | ||||||||
Beginning balance | 4,678 | 3,769 | 4,370 | 3,650 | ||||
Provision for loan losses | 1,052 | [1] | 1,047 | [2] | 2,520 | [1] | 2,380 | [2] |
Loans charged off | (1,201) | (1,193) | (3,489) | (3,228) | ||||
Recoveries | 419 | 293 | 1,547 | 1,114 | ||||
Ending Balance | 4,948 | 3,916 | 4,948 | 3,916 | ||||
Unallocated | ||||||||
Allowance for Loan Losses: | ||||||||
Beginning balance | 2,492 | 2,262 | 2,180 | 2,383 | ||||
Provision for loan losses | (1,498) | [1] | (178) | [2] | (1,186) | [1] | (299) | [2] |
Loans charged off | 0 | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | 0 | ||||
Ending Balance | $ 994 | $ 2,084 | $ 994 | $ 2,084 | ||||
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmI4NGY3NTUyYjE4MjRmY2M5YTk1ZTQ3NTczOTYwYTEzfFRleHRTZWxlY3Rpb246QTI2QTg5OTAxMkRGQTU4OEIwRTkyNzMyOUNGRjA2NkYM} | |||||||
[2] | Provision before decrease of $24 thousand in 2014 for increase in FDIC indemnification asset |
Allowance for Loan Losses (De26
Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | $ 1,228 | $ 1,911 | ||||
Collectively evaluated for impairment | 18,506 | 16,648 | ||||
Ending Balance | 19,925 | $ 19,861 | 18,839 | $ 17,507 | $ 18,255 | $ 20,068 |
Loans | ||||||
Individually evaluated for impairment | 10,582 | 14,606 | ||||
Collectively evaluated for impairment | 1,756,626 | 1,767,701 | ||||
Total | 1,772,988 | 1,788,825 | ||||
Commercial Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | 996 | 1,911 | ||||
Collectively evaluated for impairment | 10,902 | 8,733 | ||||
Ending Balance | 12,089 | 10,931 | 10,915 | 10,180 | 10,850 | 12,450 |
Loans | ||||||
Individually evaluated for impairment | 9,648 | 14,573 | ||||
Collectively evaluated for impairment | 1,032,992 | 1,030,949 | ||||
Total | 1,046,834 | 1,050,409 | ||||
Residential Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | 232 | 0 | ||||
Collectively evaluated for impairment | 1,662 | 1,365 | ||||
Ending Balance | 1,894 | 1,760 | 1,374 | 1,327 | 1,374 | 1,585 |
Loans | ||||||
Individually evaluated for impairment | 934 | 33 | ||||
Collectively evaluated for impairment | 450,198 | 468,872 | ||||
Total | 452,718 | 470,536 | ||||
Consumer Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 4,948 | 4,370 | ||||
Ending Balance | 4,948 | 4,678 | 4,370 | 3,916 | 3,769 | 3,650 |
Loans | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 273,436 | 267,880 | ||||
Total | 273,436 | 267,880 | ||||
Unallocated | ||||||
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 994 | 2,180 | ||||
Ending Balance | 994 | $ 2,492 | 2,180 | $ 2,084 | $ 2,262 | $ 2,383 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Losses | 191 | 280 | ||||
Loans | ||||||
Financing Receivable, Net | 5,780 | 6,518 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Losses | 191 | 271 | ||||
Loans | ||||||
Financing Receivable, Net | 4,194 | 4,887 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Losses | 0 | 9 | ||||
Loans | ||||||
Financing Receivable, Net | 1,586 | 1,631 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Losses | 0 | 0 | ||||
Loans | ||||||
Financing Receivable, Net | 0 | 0 | ||||
Receivables Acquired with Deteriorated Credit Quality [Member] | Unallocated | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Losses | $ 0 | $ 0 |
Allowance for Loan Losses (De27
Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Unpaid Principal Balance | |||||
TOTAL | $ 10,875 | $ 10,875 | $ 16,394 | ||
Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,033 | 3,033 | 11,477 | ||
Fair value | 10,582 | 10,582 | 14,606 | ||
Allowance For Loan Losses Allocated | |||||
TOTAL | 1,228 | 1,228 | 1,911 | ||
Average Recorded Investment | |||||
TOTAL | 13,306 | $ 16,611 | 14,016 | $ 17,266 | 16,732 |
Interest Income Recognized | |||||
TOTAL | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
TOTAL | 0 | 0 | 0 | 0 | 0 |
Commercial & Industrial | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 1,565 | 1,565 | 1,200 | ||
With an allowance recorded: | 1,618 | 1,618 | 7,388 | ||
Recorded Investment | |||||
With no related allowance recorded: | 1,272 | 1,272 | 926 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,618 | 1,618 | 5,874 | ||
Fair value | 1,340 | 1,340 | 4,818 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 278 | 278 | 1,056 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 3,290 | 4,103 | 1,939 | 3,005 | 2,589 |
With an allowance recorded: | 1,714 | 4,420 | 4,080 | 6,253 | 6,177 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Farmland | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 | ||
Fair value | 0 | 0 | 0 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Non Farm, Non Residential | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 3,243 | 3,243 | 0 | ||
With an allowance recorded: | 1,506 | 1,506 | 6,654 | ||
Recorded Investment | |||||
With no related allowance recorded: | 3,243 | 3,243 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,506 | 1,506 | 6,654 | ||
Fair value | 788 | 788 | 5,901 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 718 | 718 | 753 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 3,599 | 42 | 1,800 | 73 | 58 |
With an allowance recorded: | 1,929 | 6,677 | 4,248 | 6,709 | 6,698 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Agriculture | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 | ||
Fair value | 0 | 0 | 0 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
All Other Commercial | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 1,776 | 1,776 | 292 | ||
With an allowance recorded: | 233 | 233 | 827 | ||
Recorded Investment | |||||
With no related allowance recorded: | 1,776 | 1,776 | 292 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 233 | 233 | 827 | ||
Fair value | 233 | 233 | 725 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 102 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 1,785 | 0 | 1,029 | 0 | 58 |
With an allowance recorded: | 393 | 1,322 | 548 | 1,184 | 1,112 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
First Liens | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 30 | 30 | 0 | ||
With an allowance recorded: | 904 | 904 | 33 | ||
Recorded Investment | |||||
With no related allowance recorded: | 30 | 30 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 904 | 904 | 33 | ||
Fair value | 672 | 672 | 33 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 232 | 232 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 31 | 12 | 15 | 6 | 5 |
With an allowance recorded: | 565 | 35 | 357 | 36 | 35 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Home Equity | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 | ||
Fair value | 0 | 0 | 0 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Junior Liens | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 | ||
Fair value | 0 | 0 | 0 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Multifamily | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 | ||
Fair value | 0 | 0 | 0 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
All Other Residential | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 | ||
Fair value | 0 | 0 | 0 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Motor Vehicle | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 | ||
Fair value | 0 | 0 | 0 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
All Other Consumer | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 0 | ||
Fair value | 0 | 0 | 0 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | 0 | 0 | 0 | 0 | 0 |
Cash Basis Interest Income Recognized | |||||
With no related allowance recorded: | 0 | 0 | 0 | 0 | 0 |
With an allowance recorded: | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Allowance for Loan Losses (De28
Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | $ 10,582 | $ 14,606 | ||||
Financing Receivable, Modifications, Recorded Investment | 9,828 | $ 14,951 | 14,758 | $ 14,758 | $ 14,721 | $ 17,301 |
Commercial & Industrial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 1,340 | 4,818 | ||||
Farmland | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Non Farm, Non Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 788 | 5,901 | ||||
Agriculture | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
All Other Commercial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 233 | 725 | ||||
First Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 672 | 33 | ||||
Home Equity | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Junior Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Multifamily | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
All Other Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Motor Vehicle | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
All Other Consumer | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 1,701 | 873 | ||||
Nonaccrual | 16,112 | 15,034 | ||||
Financing Receivable, Modifications, Recorded Investment | 4,791 | 4,632 | ||||
Financing Receivable, Modifications, Nonaccrual | 5,049 | 10,142 | ||||
Nonperforming Financing Receivable [Member] | Commercial & Industrial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 3,943 | 3,720 | ||||
Financing Receivable, Modifications, Recorded Investment | 5 | 7 | ||||
Financing Receivable, Modifications, Nonaccrual | 430 | 4,961 | ||||
Nonperforming Financing Receivable [Member] | Farmland | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 385 | 79 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | Non Farm, Non Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 2,666 | 3,388 | ||||
Financing Receivable, Modifications, Recorded Investment | 7 | 10 | ||||
Financing Receivable, Modifications, Nonaccrual | 3,190 | 3,987 | ||||
Nonperforming Financing Receivable [Member] | Agriculture | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 588 | 0 | ||||
Nonaccrual | 289 | 767 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | All Other Commercial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 1,993 | 1,258 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | First Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 798 | 603 | ||||
Nonaccrual | 5,062 | 3,861 | ||||
Financing Receivable, Modifications, Recorded Investment | 4,558 | 4,357 | ||||
Financing Receivable, Modifications, Nonaccrual | 995 | 842 | ||||
Nonperforming Financing Receivable [Member] | Home Equity | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 62 | 88 | ||||
Nonaccrual | 295 | 404 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | Junior Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 13 | 12 | ||||
Nonaccrual | 230 | 275 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | Multifamily | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||||
Nonaccrual | 0 | 0 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | All Other Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 0 | 5 | ||||
Nonaccrual | 115 | 111 | ||||
Financing Receivable, Modifications, Recorded Investment | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 0 | 0 | ||||
Nonperforming Financing Receivable [Member] | Motor Vehicle | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 234 | 162 | ||||
Nonaccrual | 150 | 210 | ||||
Financing Receivable, Modifications, Recorded Investment | 181 | 257 | ||||
Financing Receivable, Modifications, Nonaccrual | 11 | 83 | ||||
Nonperforming Financing Receivable [Member] | All Other Consumer | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Loans Past Due Over 90 Day Still Accruing | 6 | 3 | ||||
Nonaccrual | 984 | 961 | ||||
Financing Receivable, Modifications, Recorded Investment | 40 | 1 | ||||
Financing Receivable, Modifications, Nonaccrual | $ 423 | $ 269 |
Allowance for Loan Losses Allow
Allowance for Loan Losses Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable Portfolio Segment [Domain] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Added | $ 66 | $ 455 | $ 907 | $ 1,795 |
Charged Off | (4) | (91) | (106) | (1,199) |
Payments | (5,185) | (327) | (5,731) | (3,139) |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Beginning Balance | 8,705 | 9,206 | 8,955 | 12,327 |
Added | 0 | 0 | 0 | 441 |
Charged Off | 0 | 0 | 0 | (1,069) |
Payments | (5,081) | (122) | (5,331) | (2,615) |
Ending Balance | 3,624 | 9,084 | 3,624 | 9,084 |
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Beginning Balance | 5,589 | 4,956 | 5,189 | 4,330 |
Added | 16 | 340 | 668 | 1,141 |
Charged Off | 0 | (67) | (62) | (67) |
Payments | (63) | (124) | (253) | (299) |
Ending Balance | 5,542 | 5,105 | 5,542 | 5,105 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Beginning Balance | 657 | 559 | 614 | 644 |
Added | 50 | 115 | 239 | 213 |
Charged Off | (4) | (24) | (44) | (63) |
Payments | (41) | (81) | (147) | (225) |
Ending Balance | $ 662 | $ 569 | $ 662 | $ 569 |
Allowance for Loan Losses (De30
Allowance for Loan Losses (Details 5) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | $ 12,986 | $ 20,409 |
Financing Receivable, Recorded Investment, Current | 1,760,002 | 1,768,416 |
Total | 1,772,988 | 1,788,825 |
Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 2,336 | 4,036 |
Financing Receivable, Recorded Investment, Current | 474,550 | 451,549 |
Total | 476,886 | 455,585 |
Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 592 | 0 |
Financing Receivable, Recorded Investment, Current | 103,759 | 95,452 |
Total | 104,351 | 95,452 |
Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 478 | 1,798 |
Financing Receivable, Recorded Investment, Current | 211,797 | 232,440 |
Total | 212,275 | 234,238 |
Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 1,289 | 766 |
Financing Receivable, Recorded Investment, Current | 130,491 | 149,099 |
Total | 131,780 | 149,865 |
All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 202 | 255 |
Financing Receivable, Recorded Investment, Current | 121,340 | 115,014 |
Total | 121,542 | 115,269 |
First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 3,619 | 8,496 |
Financing Receivable, Recorded Investment, Current | 298,948 | 308,068 |
Total | 302,567 | 316,564 |
Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 376 | 484 |
Financing Receivable, Recorded Investment, Current | 37,837 | 40,043 |
Total | 38,213 | 40,527 |
Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 580 | 570 |
Financing Receivable, Recorded Investment, Current | 30,602 | 31,487 |
Total | 31,182 | 32,057 |
Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Current | 71,916 | 72,310 |
Total | 71,916 | 72,310 |
All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 117 |
Financing Receivable, Recorded Investment, Current | 8,840 | 8,961 |
Total | 8,840 | 9,078 |
Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 3,365 | 3,763 |
Financing Receivable, Recorded Investment, Current | 247,719 | 242,406 |
Total | 251,084 | 246,169 |
All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 149 | 124 |
Financing Receivable, Recorded Investment, Current | 22,203 | 21,587 |
Total | 22,352 | 21,711 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 4,988 | 12,277 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 190 | 574 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 25 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 157 | 1,528 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 306 | 246 |
Financing Receivables, 30 to 59 Days Past Due [Member] | All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 54 | 255 |
Financing Receivables, 30 to 59 Days Past Due [Member] | First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 1,083 | 6,011 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 154 | 141 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 306 | 270 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 112 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 2,619 | 3,026 |
Financing Receivables, 30 to 59 Days Past Due [Member] | All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 94 | 114 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 2,761 | 2,145 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 321 | 416 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 567 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 68 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 368 | 18 |
Financing Receivables, 60 to 89 Days Past Due [Member] | All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 813 | 963 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 61 | 33 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 87 | 83 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 495 | 557 |
Financing Receivables, 60 to 89 Days Past Due [Member] | All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 49 | 7 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 5,237 | 5,987 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 1,825 | 3,046 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 321 | 202 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 615 | 502 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 148 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 1,723 | 1,522 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 161 | 310 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 187 | 217 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 5 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 251 | 180 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | $ 6 | $ 3 |
Allowance for Loan Losses (De31
Allowance for Loan Losses (Details 6) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | $ 1,772,988 | $ 1,788,825 |
Financing Receivable, Recorded Investment, Past Due | 12,986 | 20,409 |
Financing Receivable, Recorded Investment, Current | 1,760,002 | 1,768,416 |
Total loans | 1,764,337 | 1,780,350 |
Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 476,886 | 455,585 |
Financing Receivable, Recorded Investment, Past Due | 2,336 | 4,036 |
Financing Receivable, Recorded Investment, Current | 474,550 | 451,549 |
Total loans | 475,443 | 454,160 |
Farmland | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 104,351 | 95,452 |
Financing Receivable, Recorded Investment, Past Due | 592 | 0 |
Financing Receivable, Recorded Investment, Current | 103,759 | 95,452 |
Total loans | 102,450 | 93,839 |
Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 212,275 | 234,238 |
Financing Receivable, Recorded Investment, Past Due | 478 | 1,798 |
Financing Receivable, Recorded Investment, Current | 211,797 | 232,440 |
Total loans | 211,859 | 233,760 |
Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 131,780 | 149,865 |
Financing Receivable, Recorded Investment, Past Due | 1,289 | 766 |
Financing Receivable, Recorded Investment, Current | 130,491 | 149,099 |
Total loans | 130,083 | 148,102 |
All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 121,542 | 115,269 |
Financing Receivable, Recorded Investment, Past Due | 202 | 255 |
Financing Receivable, Recorded Investment, Current | 121,340 | 115,014 |
Total loans | 120,842 | 114,661 |
First Liens | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 302,567 | 316,564 |
Financing Receivable, Recorded Investment, Past Due | 3,619 | 8,496 |
Financing Receivable, Recorded Investment, Current | 298,948 | 308,068 |
Total loans | 301,606 | 315,559 |
Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 38,213 | 40,527 |
Financing Receivable, Recorded Investment, Past Due | 376 | 484 |
Financing Receivable, Recorded Investment, Current | 37,837 | 40,043 |
Total loans | 38,156 | 40,463 |
Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 31,182 | 32,057 |
Financing Receivable, Recorded Investment, Past Due | 580 | 570 |
Financing Receivable, Recorded Investment, Current | 30,602 | 31,487 |
Total loans | 31,100 | 31,962 |
Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 71,916 | 72,310 |
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable, Recorded Investment, Current | 71,916 | 72,310 |
Total loans | 71,744 | 72,133 |
All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 8,840 | 9,078 |
Financing Receivable, Recorded Investment, Past Due | 0 | 117 |
Financing Receivable, Recorded Investment, Current | 8,840 | 8,961 |
Total loans | 8,819 | 9,055 |
Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 251,084 | 246,169 |
Financing Receivable, Recorded Investment, Past Due | 3,365 | 3,763 |
Financing Receivable, Recorded Investment, Current | 247,719 | 242,406 |
Total loans | 249,996 | 245,063 |
All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 22,352 | 21,711 |
Financing Receivable, Recorded Investment, Past Due | 149 | 124 |
Financing Receivable, Recorded Investment, Current | 22,203 | 21,587 |
Total loans | 22,239 | 21,593 |
Pass | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,100,446 | 1,116,963 |
Pass | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 408,039 | 393,449 |
Pass | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 90,255 | 85,772 |
Pass | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 184,252 | 186,346 |
Pass | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 111,296 | 138,713 |
Pass | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 105,584 | 101,942 |
Pass | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 98,630 | 104,854 |
Pass | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 11,097 | 12,592 |
Pass | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 7,578 | 8,112 |
Pass | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 69,077 | 69,080 |
Pass | All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 902 | 1,799 |
Pass | Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 10,555 | 11,135 |
Pass | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 3,181 | 3,169 |
Special Mention | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 63,737 | 79,040 |
Special Mention | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 28,331 | 29,081 |
Special Mention | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 7,354 | 7,618 |
Special Mention | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 8,191 | 21,765 |
Special Mention | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 9,804 | 7,399 |
Special Mention | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 2,691 | 4,356 |
Special Mention | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 4,591 | 5,929 |
Special Mention | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 453 | 375 |
Special Mention | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 119 | 173 |
Special Mention | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,616 | 1,801 |
Special Mention | All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Special Mention | Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 498 | 402 |
Special Mention | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 89 | 141 |
Substandard | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 87,502 | 70,119 |
Substandard | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 31,171 | 24,013 |
Substandard | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 4,825 | 436 |
Substandard | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 19,380 | 25,613 |
Substandard | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 8,790 | 1,746 |
Substandard | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 11,193 | 7,055 |
Substandard | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 8,633 | 7,733 |
Substandard | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,348 | 1,374 |
Substandard | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 482 | 561 |
Substandard | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,026 | 1,249 |
Substandard | All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 25 | 28 |
Substandard | Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 508 | 224 |
Substandard | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 121 | 87 |
Doubtful | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 2,262 | 4,271 |
Doubtful | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,295 | 2,900 |
Doubtful | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Doubtful | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 36 | 36 |
Doubtful | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 27 | 177 |
Doubtful | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 101 | 33 |
Doubtful | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 718 | 1,035 |
Doubtful | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 11 | 6 |
Doubtful | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 59 | 63 |
Doubtful | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Doubtful | All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Doubtful | Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Doubtful | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 15 | 21 |
Not Rated | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 510,390 | 509,957 |
Not Rated | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 6,607 | 4,717 |
Not Rated | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 16 | 13 |
Not Rated | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Not Rated | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 166 | 67 |
Not Rated | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,273 | 1,275 |
Not Rated | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 189,034 | 196,008 |
Not Rated | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 25,247 | 26,116 |
Not Rated | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 22,862 | 23,053 |
Not Rated | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 25 | 3 |
Not Rated | All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 7,892 | 7,228 |
Not Rated | Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 238,435 | 233,302 |
Not Rated | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | $ 18,833 | $ 18,175 |
Allowance for Loan Losses (De32
Allowance for Loan Losses (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | |
Allowance for loan losses | ||||
Financing Receivable, Modifications, Specific Reserves Allocated to Troubled Debt Restructuring | $ 81,000 | $ 81,000 | $ 36,000 | |
Increase in provision for decrease in FDIC indemnification asset | $ 24,000 | $ 675,000 | ||
Fair value | 10,582,000 | $ 14,606,000 | ||
Minimum outstanding balance of non-homogeneous loans to be individually evaluated as to credit risk | 100,000 | |||
Commercial & Industrial | ||||
Allowance for loan losses | ||||
Fair value | 1,340,000 | 4,818,000 | ||
Farmland | ||||
Allowance for loan losses | ||||
Fair value | 0 | 0 | ||
Covered Loans | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 184,000 | 37,000 | ||
Nonaccrual | 242,000 | 274,000 | ||
Non Farm, Non Residential | ||||
Allowance for loan losses | ||||
Fair value | 788,000 | 5,901,000 | ||
Agriculture | ||||
Allowance for loan losses | ||||
Fair value | 0 | 0 | ||
All Other Commercial | ||||
Allowance for loan losses | ||||
Fair value | 233,000 | 725,000 | ||
First Liens | ||||
Allowance for loan losses | ||||
Fair value | 672,000 | 33,000 | ||
Home Equity | ||||
Allowance for loan losses | ||||
Fair value | 0 | 0 | ||
Junior Liens | ||||
Allowance for loan losses | ||||
Fair value | 0 | 0 | ||
Multifamily | ||||
Allowance for loan losses | ||||
Fair value | 0 | 0 | ||
All Other Residential | ||||
Allowance for loan losses | ||||
Fair value | 0 | 0 | ||
Motor Vehicle | ||||
Allowance for loan losses | ||||
Fair value | 0 | 0 | ||
All Other Consumer | ||||
Allowance for loan losses | ||||
Fair value | 0 | 0 | ||
Nonperforming Financing Receivable [Member] | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 1,701,000 | 873,000 | ||
Nonaccrual | 16,112,000 | 15,034,000 | ||
Nonperforming Financing Receivable [Member] | Commercial & Industrial | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||
Nonaccrual | 3,943,000 | 3,720,000 | ||
Nonperforming Financing Receivable [Member] | Farmland | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||
Nonaccrual | 385,000 | 79,000 | ||
Nonperforming Financing Receivable [Member] | Non Farm, Non Residential | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||
Nonaccrual | 2,666,000 | 3,388,000 | ||
Nonperforming Financing Receivable [Member] | Agriculture | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 588,000 | 0 | ||
Nonaccrual | 289,000 | 767,000 | ||
Nonperforming Financing Receivable [Member] | All Other Commercial | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||
Nonaccrual | 1,993,000 | 1,258,000 | ||
Nonperforming Financing Receivable [Member] | First Liens | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 798,000 | 603,000 | ||
Nonaccrual | 5,062,000 | 3,861,000 | ||
Nonperforming Financing Receivable [Member] | Home Equity | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 62,000 | 88,000 | ||
Nonaccrual | 295,000 | 404,000 | ||
Nonperforming Financing Receivable [Member] | Junior Liens | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 13,000 | 12,000 | ||
Nonaccrual | 230,000 | 275,000 | ||
Nonperforming Financing Receivable [Member] | Multifamily | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 | ||
Nonaccrual | 0 | 0 | ||
Nonperforming Financing Receivable [Member] | All Other Residential | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 0 | 5,000 | ||
Nonaccrual | 115,000 | 111,000 | ||
Nonperforming Financing Receivable [Member] | Motor Vehicle | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 234,000 | 162,000 | ||
Nonaccrual | 150,000 | 210,000 | ||
Nonperforming Financing Receivable [Member] | All Other Consumer | ||||
Allowance for loan losses | ||||
Loans Past Due Over 90 Day Still Accruing | 6,000 | 3,000 | ||
Nonaccrual | $ 984,000 | $ 961,000 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | $ 866,840 | $ 880,946 |
Unrealized Gains | (23,311) | (24,296) |
Unrealized Losses | (4,315) | (8,189) |
Securities available-for-sale | 885,836 | 897,053 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 11,059 | 1,411 |
Unrealized Gains | (61) | (56) |
Unrealized Losses | 0 | 0 |
Securities available-for-sale | 11,120 | 1,467 |
Mortgage Backed Securities - Residential | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 188,184 | 180,673 |
Unrealized Gains | (6,391) | (7,593) |
Unrealized Losses | (235) | (330) |
Securities available-for-sale | 194,340 | 187,936 |
Mortgage Backed Securities - Commercial | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 10 | 17 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Securities available-for-sale | 10 | 17 |
Collateralized Mortgage Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 453,593 | 489,765 |
Unrealized Gains | (4,019) | (2,513) |
Unrealized Losses | (3,703) | (7,623) |
Securities available-for-sale | 453,909 | 484,655 |
State and Municipal Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 204,279 | 198,875 |
Unrealized Gains | (7,438) | (9,019) |
Unrealized Losses | (377) | (219) |
Securities available-for-sale | 211,340 | 207,675 |
Collateralized Debt Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 9,715 | 10,205 |
Unrealized Gains | (5,402) | (5,115) |
Unrealized Losses | 0 | (17) |
Securities available-for-sale | $ 15,117 | $ 15,303 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Amortized Cost | ||
Due in one year or less | $ 3,399 | |
Due after one but within five years | 40,291 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 88,042 | |
Due after ten years | 93,321 | |
Total of securities having specified maturity period | 225,053 | |
TOTAL | 866,840 | $ 880,946 |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | 641,787 | |
Fair Value | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 3,426 | |
Due after one but within five years | 41,512 | |
Due after five but within ten years | 91,552 | |
Due after ten years | 101,087 | |
Total of securities having specified maturities period | 237,577 | |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | 648,259 | |
Securities available-for-sale | $ 885,836 | $ 897,053 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $ 3,399 | |
Less Than 12 Months | ||
Fair Value | 169,932 | $ 57,332 |
Unrealized Losses | (3,599) | (163) |
More Than 12 Months | ||
Fair Value | 99,054 | 299,536 |
Unrealized Losses | (716) | (8,026) |
Total | ||
Fair Value | 268,986 | 356,868 |
Unrealized Losses | (4,315) | (8,189) |
Mortgage Backed Securities - Residential | ||
Less Than 12 Months | ||
Fair Value | 18,372 | 0 |
Unrealized Losses | (180) | 0 |
More Than 12 Months | ||
Fair Value | 19,957 | 23,849 |
Unrealized Losses | (55) | (330) |
Total | ||
Fair Value | 38,329 | 23,849 |
Unrealized Losses | (235) | (330) |
Collateralized Mortgage Obligations | ||
Less Than 12 Months | ||
Fair Value | 147,188 | 50,832 |
Unrealized Losses | (3,318) | (128) |
More Than 12 Months | ||
Fair Value | 55,710 | 264,940 |
Unrealized Losses | (385) | (7,495) |
Total | ||
Fair Value | 202,898 | 315,772 |
Unrealized Losses | (3,703) | (7,623) |
State and Municipal Obligations | ||
Less Than 12 Months | ||
Fair Value | 4,372 | 6,500 |
Unrealized Losses | (101) | (35) |
More Than 12 Months | ||
Fair Value | 23,387 | 10,547 |
Unrealized Losses | (276) | (184) |
Total | ||
Fair Value | 27,759 | 17,047 |
Unrealized Losses | (377) | (219) |
Collateralized Debt Obligations | ||
Less Than 12 Months | ||
Fair Value | 0 | 0 |
Unrealized Losses | 0 | 0 |
More Than 12 Months | ||
Fair Value | 0 | 200 |
Unrealized Losses | 0 | (17) |
Total | ||
Fair Value | 0 | 200 |
Unrealized Losses | $ 0 | $ (17) |
Securities (Details 3)
Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Rollforward of the credit losses recognized in earnings | ||||
Beginning balance | $ 13,995 | $ 14,079 | $ 14,050 | $ 14,079 |
Increases to the amount related to the credit loss for which other-than-temporary was previously recognized | 0 | 0 | 0 | 0 |
Reductions for increases in cash flows collected | 0 | (29) | (55) | (29) |
Amounts realized for securities sold during the period | 0 | 0 | 0 | 0 |
Ending balance | $ 13,995 | $ 14,050 | $ 13,995 | $ 14,050 |
Securities (Details Textual)
Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Gain on sale of investments | $ (9) | $ 0 | $ (23) | $ 1 | ||||
Gross unrealized losses | 4,315 | 4,315 | $ 8,189 | |||||
Cumulative OTTI charges | 13,995 | $ 14,050 | 13,995 | $ 14,050 | $ 13,995 | 14,050 | $ 14,079 | $ 14,079 |
Amortized Cost | 866,840 | 866,840 | 880,946 | |||||
Securities available-for-sale | $ 885,836 | $ 885,836 | $ 897,053 | |||||
Minimum [Member] | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Basis point spread on variable rate | 1.60% | 1.60% | ||||||
Minimum [Member] | Standard Poors [Member] | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Credit Quality Indicator Pricing | 44.9 | 44.9 | ||||||
Minimum [Member] | Moody Investor Service [Member] | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Credit Quality Indicator Pricing | 7.2 | 7.2 | ||||||
Maximum [Member] | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Basis point spread on variable rate | 1.80% | 1.80% | ||||||
Maximum [Member] | Standard Poors [Member] | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Credit Quality Indicator Pricing | 63.8 | 63.8 | ||||||
Maximum [Member] | Moody Investor Service [Member] | ||||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||||
Credit Quality Indicator Pricing | 16.3 | 16.3 |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Fair value measurement | ||
Securities available-for-sale | $ 885,836 | $ 897,053 |
US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 11,120 | 1,467 |
Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities available-for-sale | 194,340 | 187,936 |
Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities available-for-sale | 10 | 17 |
Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 453,909 | 484,655 |
State and Municipal Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 211,340 | 207,675 |
Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 15,117 | 15,303 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | State and Municipal Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 865,994 | 875,850 |
Derivative Assets | 1,568 | 1,062 |
Derivative Liability | (1,568) | (1,062) |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 11,120 | 1,467 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities available-for-sale | 194,340 | 187,936 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities available-for-sale | 10 | 17 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 453,909 | 484,655 |
Fair Value, Inputs, Level 2 [Member] | State and Municipal Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 206,615 | 201,775 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 19,842 | 21,203 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | State and Municipal Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 4,725 | 5,900 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities available-for-sale | $ 15,117 | $ 15,303 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | |
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | $ 885,836 | $ 885,836 | $ 897,053 |
Reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs | |||
Beginning balance | 19,591 | 21,203 | 13,569 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 307 | 122 | 7,100 |
Transfers | 0 | 0 | |
Purchases | 4,000 | ||
Settlements | (56) | (1,483) | (3,466) |
Ending balance | 19,842 | 19,842 | 21,203 |
US Government Agencies Debt Securities [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 11,120 | 11,120 | 1,467 |
State and Municipal Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 211,340 | 211,340 | 207,675 |
Reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs | |||
Beginning balance | 4,725 | 5,900 | 4,525 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 0 | 0 | 0 |
Transfers | 0 | 0 | |
Purchases | 4,000 | ||
Settlements | 0 | (1,175) | (2,625) |
Ending balance | 4,725 | 4,725 | 5,900 |
Collateralized Debt Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 15,117 | 15,117 | 15,303 |
Reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs | |||
Beginning balance | 14,866 | 15,303 | 9,044 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 307 | 122 | 7,100 |
Transfers | 0 | 0 | |
Purchases | 0 | ||
Settlements | (56) | (308) | (841) |
Ending balance | 15,117 | 15,117 | 15,303 |
Mortgage Backed Securities - Residential | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 194,340 | 194,340 | 187,936 |
Mortgage Backed Securities - Commercial | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 10 | 10 | 17 |
Collateralized Mortgage Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 453,909 | 453,909 | 484,655 |
Fair Value, Inputs, Level 3 [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 19,842 | 19,842 | 21,203 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | State and Municipal Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 4,725 | 4,725 | 5,900 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Debt Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 15,117 | 15,117 | 15,303 |
Fair Value, Inputs, Level 3 [Member] | Mortgage Backed Securities - Residential | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgage Backed Securities - Commercial | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | State and Municipal Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Debt Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage Backed Securities - Residential | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgage Backed Securities - Commercial | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 865,994 | 865,994 | 875,850 |
Reconciliation and income statement classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs | |||
Derivative Assets | 1,568 | 1,568 | 1,062 |
Derivative Liability | 1,568 | 1,568 | 1,062 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 11,120 | 11,120 | 1,467 |
Fair Value, Inputs, Level 2 [Member] | State and Municipal Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 206,615 | 206,615 | 201,775 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Debt Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 0 | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Residential | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 194,340 | 194,340 | 187,936 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Commercial | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 10 | 10 | 17 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | $ 453,909 | $ 453,909 | $ 484,655 |
Fair Value (Details 2)
Fair Value (Details 2) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Minimum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs | 0.00% | |
Maximum [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs | 50.00% | |
State and Municipal Obligations | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 4,725 | $ 5,900 |
Valuation Technique(s) | Discounted cash flow | Discounted cash flow |
Unobservable Inputs | Discount rate Probability of default | Discount rate Probability of default |
State and Municipal Obligations | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs | 3.05% | 3.05% |
State and Municipal Obligations | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs | 5.50% | 5.50% |
Other Real Estate | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 3,382 | $ 3,965 |
Valuation Technique(s) | Sales comparison/income approach | Sales comparison/income approach |
Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions |
Other Real Estate | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs | 5.00% | 5.00% |
Other Real Estate | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs | 20.00% | 20.00% |
Impaired Loans | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 3,033 | $ 11,477 |
Valuation Technique(s) | Sales comparison/income approach | Sales comparison/income approach |
Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions |
Impaired Loans | Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs | 0.00% | 0.00% |
Impaired Loans | Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Range of Inputs | 50.00% | 50.00% |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Loans identified as impaired by class of loans | ||
Carrying Value | $ 4,261 | $ 13,388 |
Allowance for Loan Losses Allocated | 1,228 | 1,911 |
Fair value | 10,582 | 14,606 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,033 | 11,477 |
Commercial & Industrial | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 1,618 | 5,874 |
Allowance for Loan Losses Allocated | 278 | 1,056 |
Fair value | 1,340 | 4,818 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,618 | 5,874 |
Farmland | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 |
Non Farm, Non Residential | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 1,506 | 6,654 |
Allowance for Loan Losses Allocated | 718 | 753 |
Fair value | 788 | 5,901 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,506 | 6,654 |
Agriculture | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 |
All Other Commercial | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 233 | 827 |
Allowance for Loan Losses Allocated | 0 | 102 |
Fair value | 233 | 725 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 233 | 827 |
First Liens | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 904 | 33 |
Allowance for Loan Losses Allocated | 232 | 0 |
Fair value | 672 | 33 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 904 | 33 |
Home Equity | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 |
Junior Liens | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 |
Multifamily | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 |
All Other Residential | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 |
Motor Vehicle | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 |
All Other Consumer | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 0 |
Allowance for Loan Losses Allocated | 0 | 0 |
Fair value | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | $ 0 | $ 0 |
Fair Value (Details 4)
Fair Value (Details 4) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Carrying amount and estimated fair value of financial instruments | ||
Fair value | $ 10,582 | $ 14,606 |
Securities available-for-sale | 885,836 | 897,053 |
Restricted Investments | 10,838 | 16,404 |
Accrued interest receivable | 12,265 | 11,593 |
Deposits | (2,418,589) | (2,457,197) |
Fair Value, Inputs, Level 1 [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 21,962 | 22,597 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | 0 |
Securities available-for-sale | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
FDIC Indemnification Asset | 0 | |
Accrued interest receivable | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Accrued interest payable | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 41,316 | 55,505 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | 8,000 |
Securities available-for-sale | 865,994 | 875,850 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
FDIC Indemnification Asset | (74) | |
Accrued interest receivable | 3,719 | 3,183 |
Deposits | (2,420,624) | (2,459,703) |
Short-term borrowings | (23,336) | (48,015) |
Federal Home Loan Bank advances | (13,683) | (13,605) |
Accrued interest payable | (396) | (456) |
Fair Value, Inputs, Level 3 [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | 0 |
Securities available-for-sale | 19,842 | 21,203 |
Loans Receivable, Fair Value Disclosure | 1,804,961 | 1,810,885 |
FDIC Indemnification Asset | 0 | |
Accrued interest receivable | 8,546 | 8,410 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Federal Home Loan Bank advances | 0 | 0 |
Accrued interest payable | 0 | 0 |
Reported Value Measurement [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 63,278 | 78,102 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | 8,000 |
Securities available-for-sale | 885,836 | 897,053 |
Restricted Investments | 10,838 | 16,404 |
Loans Receivable, Fair Value Disclosure | 1,746,742 | 1,762,589 |
FDIC Indemnification Asset | (74) | |
Accrued interest receivable | 12,265 | 11,593 |
Deposits | (2,418,589) | (2,457,197) |
Short-term borrowings | (23,336) | (48,015) |
Federal Home Loan Bank advances | (13,251) | (12,886) |
Accrued interest payable | (396) | (456) |
Estimate of Fair Value Measurement [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 63,278 | 78,102 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | 8,000 |
Securities available-for-sale | 885,836 | 897,053 |
Loans Receivable, Fair Value Disclosure | 1,804,961 | 1,810,885 |
FDIC Indemnification Asset | (74) | |
Accrued interest receivable | 12,265 | 11,593 |
Deposits | (2,420,624) | (2,459,703) |
Short-term borrowings | (23,336) | (48,015) |
Federal Home Loan Bank advances | (13,683) | (13,605) |
Accrued interest payable | $ (396) | $ (456) |
Fair Value (Details Textual)
Fair Value (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Valuation allowance for impaired loans | $ 1,228 | $ 1,911 | |
Provision for impaired loan losses | (221) | $ (1,200) | |
Other real estate owned | 3,382 | 3,965 | |
Commercial Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair Value | 2,800 | 3,000 | |
Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair Value | 600 | 1,000 | |
State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair Value | $ 4,725 | $ 5,900 | |
Fair Value Measurements, Valuation Techniques | Discounted cash flow | Discounted cash flow | |
Fair Value Measurements Unobservable Inputs | Discount rate Probability of default | Discount rate Probability of default | |
Impaired Loans | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair Value | $ 3,033 | $ 11,477 | |
Valuation allowance for impaired loans | $ 1,200 | $ 1,900 | |
Fair Value Measurements, Valuation Techniques | Sales comparison/income approach | Sales comparison/income approach | |
Fair Value Measurements Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions | |
Other Real Estate | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Real estate, other deductions | $ 700 | $ 1,100 | |
Other Real Estate | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair Value | 3,382 | 3,965 | |
Other real estate owned | $ 3,400 | $ 4,000 | |
Fair Value Measurements, Valuation Techniques | Sales comparison/income approach | Sales comparison/income approach | |
Fair Value Measurements Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions | |
Minimum [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value inputs, discount rate | 0.00% | ||
Minimum [Member] | State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value inputs, discount rate | 3.05% | 3.05% | |
Minimum [Member] | Impaired Loans | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value inputs, discount rate | 0.00% | 0.00% | |
Minimum [Member] | Other Real Estate | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value inputs, discount rate | 5.00% | 5.00% | |
Maximum [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value inputs, discount rate | 50.00% | ||
Maximum [Member] | State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value inputs, discount rate | 5.50% | 5.50% | |
Maximum [Member] | Impaired Loans | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value inputs, discount rate | 50.00% | 50.00% | |
Maximum [Member] | Other Real Estate | Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Fair value inputs, discount rate | 20.00% | 20.00% |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Short-term Debt [Abstract] | ||
Federal Funds Purchased | $ 550 | $ 21,192 |
Securities Sold under Agreements to Repurchase | 22,786 | 26,823 |
Short-term borrowings | $ 23,336 | $ 48,015 |
Short-Term Borrowings Short-Ter
Short-Term Borrowings Short-Term Borrowings (Details 1) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 22,786 | $ 26,823 |
Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 10,225 | 14,787 |
Maturity up to 30 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 5,748 |
Maturity 30 to 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 5,670 |
Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 12,561 | $ 618 |
Components of Net Periodic Be46
Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 1,800 | ||||
Post-Retirement Health Benefits [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 247 | ||||
Service cost | $ 16 | $ 13 | $ 47 | $ 40 | |
Interest cost | 43 | 44 | 130 | 131 | |
Expected return on plan assets | 0 | 0 | 0 | 0 | |
Amortization of transition obligation | 0 | 0 | 0 | 0 | |
Net amortization of prior service cost | 0 | 0 | 0 | 0 | |
Net amortization of net (gain) loss | 0 | 0 | 0 | (1) | |
Net Periodic Benefit Cost | 59 | 57 | 177 | 170 | |
Defined Benefit Plan, Contributions by Employer | 161 | ||||
Pension Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Service cost | 538 | 510 | 1,615 | 1,530 | |
Interest cost | 879 | 939 | 2,637 | 2,817 | |
Expected return on plan assets | (863) | (948) | (2,589) | (2,845) | |
Amortization of transition obligation | 0 | 0 | 0 | 0 | |
Net amortization of prior service cost | 0 | (2) | 1 | (7) | |
Net amortization of net (gain) loss | 1,185 | 190 | 3,555 | 569 | |
Net Periodic Benefit Cost | $ 1,739 | $ 689 | 5,219 | $ 2,064 | |
Defined Benefit Plan, Contributions by Employer | $ 1,300 |
Components of Net Periodic Be47
Components of Net Periodic Benefit Cost (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 1,800 | ||
Defined Benefit Plan, Expected Future Benefit Payments, Next Rolling Twelve Months | 1,100 | ||
Defined Contribution Plan Employer Accrued Discretionary Contribution Amount | $ 1,100 | $ 1,000 | |
Post Retirement Health Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 247 | ||
Defined Benefit Plan, Contributions by Employer | 161 | ||
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Contributions by Employer | $ 1,300 |
Acquisitions and FDIC Indemni48
Acquisitions and FDIC Indemnification Asset (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 5,876 | $ 6,374 | $ 9,222 | $ 10,085 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Loans and Leases Receivable, Disposals | (114) | (1,677) | (612) | (2,540) | ||||
Total Covered Assets | 5,762 | 7,545 | 5,762 | 7,545 | ||||
Consumer Loan [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 1,547 | 1,571 | 1,885 | 2,409 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | 0 | 0 | 0 | 0 | ||||
Loans and Leases Receivable, Disposals | (9) | (108) | (33) | (632) | ||||
Total Covered Assets | 1,538 | 1,777 | 1,538 | 1,777 | ||||
Commercial Loan [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 4,329 | $ 4,803 | $ 7,337 | $ 7,676 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | 0 | 0 | 0 | 0 | ||||
Loans and Leases Receivable, Disposals | (105) | (1,569) | (579) | (1,908) | ||||
Total Covered Assets | $ 4,224 | $ 5,768 | $ 4,224 | $ 5,768 |
Acquisitions and FDIC Indemni49
Acquisitions and FDIC Indemnification Asset (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | ||
Goodwill | $ 39,489,000 | $ 39,489,000 |
Loans and Leases Receivable, Net of Loans with Deteriorated Credit Quality, Covered | 6,500,000 | $ 7,300,000 |
First National Bank Of Danville [Member] | ||
Business Acquisition [Line Items] | ||
Reimbursements from the FDIC | 19,400,000 | |
Business Aquisition, Loss Sharing Agreement Losses On Assets Threshold | $ 29,000,000 | |
Business Acquisition Loss Sharing Agreement Losses In Excess Of Threshold To Be Reimbursed Percentage | 95.00% | |
Business Acquisition, Loss Sharing Agreement Losses Up To Threshold To Be Reimbursed Percentage | 80.00% |
Accumulated Other Comprehensi50
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | $ 5,290 | $ 1,995 | $ 5,771 | $ 11,644 |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | 4,464 | 1,879 | 1,654 | 11,297 |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | 826 | 116 | 4,117 | 347 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | 5,290 | 1,995 | 5,771 | 11,644 |
TOTAL Balance | (14,048) | (4,320) | (14,529) | (13,969) |
TOTAL Balance | (8,758) | (2,325) | (8,758) | (2,325) |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 4,471 | 1,879 | 1,669 | 11,298 |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | 4,464 | 1,879 | 1,654 | 11,297 |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | 7 | 0 | 15 | 1 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | 4,471 | 1,879 | 1,669 | 11,298 |
TOTAL Balance | 7,476 | 5,784 | 10,278 | (3,635) |
TOTAL Balance | 11,947 | 7,663 | 11,947 | 7,663 |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 819 | 116 | 4,102 | 346 |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | 0 | 0 | 0 | 0 |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | 819 | 116 | 4,102 | 346 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | 819 | 116 | 4,102 | 346 |
TOTAL Balance | (21,524) | (10,104) | (24,807) | (10,334) |
TOTAL Balance | $ (20,705) | $ (9,988) | $ (20,705) | $ (9,988) |
Accumulated Other Comprehensi51
Accumulated Other Comprehensive Income (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | $ 4,464 | $ 1,879 | $ 1,654 | $ 11,297 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 5,290 | 1,995 | 5,771 | 11,644 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 826 | 116 | 4,117 | 347 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | (8,758) | (2,325) | (8,758) | (2,325) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 5,290 | 1,995 | 5,771 | 11,644 |
TOTAL Balance | (14,048) | (4,320) | (14,529) | (13,969) |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | 4,464 | 1,879 | 1,654 | 11,297 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 4,471 | 1,879 | 1,669 | 11,298 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 7 | 0 | 15 | 1 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 11,947 | 7,663 | 11,947 | 7,663 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 4,471 | 1,879 | 1,669 | 11,298 |
TOTAL Balance | 7,476 | 5,784 | 10,278 | (3,635) |
Unrealized gains losses on securities available-for-sale with other than temporary impairment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 3,287 | 3,536 | 3,287 | 3,536 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 240 | 1,048 | 173 | 4,672 |
TOTAL Balance | 3,047 | 2,488 | 3,114 | (1,136) |
Unrealized gains losses on securities available-for-sale without other than temporary impairment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 8,660 | 4,127 | 8,660 | 4,127 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 4,231 | 831 | 1,496 | 6,626 |
TOTAL Balance | 4,429 | 3,296 | 7,164 | (2,499) |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | 0 | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 819 | 116 | 4,102 | 346 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 819 | 116 | 4,102 | 346 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | (20,705) | (9,988) | (20,705) | (9,988) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 819 | 116 | 4,102 | 346 |
TOTAL Balance | $ (21,524) | $ (10,104) | $ (24,807) | $ (10,334) |
Accumulated Other Comprehensi52
Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net securities gains (losses) | $ 9 | $ 0 | $ 23 | $ (1) |
Income tax expense | (2,927) | (3,156) | (8,098) | (10,903) |
Unrealized gain (loss) on securities, net of tax | 8,398 | 8,272 | 23,082 | 24,591 |
Change in funded status of post retirement benefits | 819 | 116 | 4,102 | 346 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Unrealized gain (loss) on securities, net of tax | 826 | (116) | 4,117 | (347) |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net securities gains (losses) | 9 | 0 | 23 | (1) |
Income tax expense | (2) | 0 | (8) | 0 |
Unrealized gain (loss) on securities, net of tax | 7 | 0 | 15 | (1) |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Income tax expense | (546) | 121 | (2,735) | 365 |
Unrealized gain (loss) on securities, net of tax | 819 | (116) | 4,102 | (346) |
Change in funded status of post retirement benefits | $ 1,365 | $ (237) | $ 6,837 | $ (711) |