Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Nov. 04, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | FIRST FINANCIAL CORP /IN/ | |
Entity Central Index Key | 0000714562 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 13,713,355 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and due from banks | $ 80,193 | $ 74,388 |
Securities available-for-sale | 939,944 | 784,916 |
Financing Receivable, before Allowance for Credit Loss, Current | 1,583,002 | 1,166,352 |
Loans: | ||
Residential | 708,056 | 443,670 |
Consumer | 373,747 | 341,041 |
Loans, gross | 2,664,805 | 1,951,063 |
Less: Unearned Income | 3,671 | 2,925 |
Less: Allowance for loan losses | (19,799) | (20,436) |
Loans, Net | 2,648,677 | 1,933,552 |
Restricted Investments | 13,624 | 10,390 |
Accrued interest receivable | 18,735 | 13,970 |
Premises and equipment, net | 70,592 | 46,554 |
Bank-owned life insurance | 97,810 | 86,186 |
Goodwill | 75,417 | 34,355 |
Other intangible assets | 11,261 | 1,197 |
Other real estate owned | 3,717 | 603 |
Other assets | 28,149 | 22,607 |
TOTAL ASSETS | 3,988,119 | 3,008,718 |
Deposits: | ||
Non-interest-bearing | 560,537 | 431,923 |
Interest-bearing: | ||
Interest-bearing Domestic Deposit, Other | 1,962,520 | |
Total Deposits | 3,220,122 | 2,436,727 |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase | 90,852 | 69,656 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances | 55,948 | 0 |
Other liabilities | 64,615 | 59,634 |
TOTAL LIABILITIES | 3,431,537 | 2,566,017 |
Shareholders' equity | ||
Common stock, $.125 stated value per share; Authorized shares-40,000,000 Issued shares-16,055,466 in 2019 and 14,612,540 in 2018 Outstanding shares-13,713,355 in 2019 and 12,278,295 in 2018 | 2,004 | 1,824 |
Additional paid-in capital | 139,073 | 76,774 |
Retained earnings | 484,834 | 456,716 |
Accumulated other comprehensive income (loss) | 145 | (23,454) |
Less: Treasury shares at cost-2,342,111 in 2019 and 2,334,245 in 2018 | (69,474) | (69,159) |
TOTAL SHAREHOLDERS' EQUITY | 556,582 | 442,701 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 3,988,119 | 3,008,718 |
Interest-bearing Domestic Deposit, Certificates of Deposits | 130,270 | $ 42,284 |
Interest-bearing Deposit Liabilities, Domestic | $ 2,529,315 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2019 | Dec. 31, 2018 |
Common stock, stated value per share | $ 0.125 | $ 0.125 |
Common stock, Authorized shares | 40,000,000 | 40,000,000 |
Common stock, Issued shares | 16,055,466 | 14,612,540 |
Common stock, Outstanding shares | 13,713,355 | 12,278,295 |
Treasury, shares | 2,342,111 | 2,334,245 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
INTEREST INCOME: | ||||
Loans, including related fees | $ 33,363 | $ 25,581 | $ 87,650 | $ 73,982 |
Securities: | ||||
Taxable | 3,907 | 3,601 | 11,104 | 13,141 |
Tax-exempt | 1,959 | 1,873 | 5,699 | 5,573 |
Other | 366 | 320 | 1,017 | 959 |
TOTAL INTEREST INCOME | 39,595 | 31,375 | 105,470 | 93,655 |
INTEREST EXPENSE: | ||||
Deposits | 5,069 | 2,365 | 11,202 | 6,254 |
Short-term borrowings | 305 | 167 | 786 | 354 |
Other borrowings | 222 | 16 | 305 | 63 |
TOTAL INTEREST EXPENSE | 5,596 | 2,548 | 12,293 | 6,671 |
NET INTEREST INCOME | 33,999 | 28,827 | 93,177 | 86,984 |
Provision for loan losses | 1,500 | 1,470 | 3,200 | 4,298 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 32,499 | 27,357 | 89,977 | 82,686 |
NON-INTEREST INCOME: | ||||
Trust and financial services | 1,329 | 1,133 | 3,657 | 3,888 |
Service charges and fees on deposit accounts | 3,227 | 3,002 | 8,586 | 8,733 |
Other service charges and fees | 3,720 | 3,256 | 10,242 | 9,747 |
Net securities gains (losses) | 6 | 3 | 18 | 5 |
Gain on sales of mortgage loans | 865 | 618 | 1,781 | 1,458 |
Other | 599 | 897 | 2,841 | 1,984 |
TOTAL NON-INTEREST INCOME | 9,746 | 8,909 | 27,125 | 29,973 |
NON-INTEREST EXPENSE: | ||||
Salaries and employee benefits | 14,031 | 12,485 | 39,332 | 38,028 |
Occupancy expense | 1,804 | 1,894 | 5,432 | 5,308 |
Equipment expense | 2,117 | 1,673 | 5,685 | 5,016 |
FDIC Expense | 155 | 223 | 494 | 673 |
Other | 9,302 | 6,022 | 23,651 | 19,166 |
TOTAL NON-INTEREST EXPENSE | 27,409 | 22,297 | 74,594 | 68,191 |
INCOME BEFORE INCOME TAXES | 14,836 | 13,969 | 42,508 | 44,468 |
Income tax expense | 2,579 | 2,656 | 8,000 | 8,941 |
NET INCOME | 12,257 | 11,313 | 34,508 | 35,527 |
OTHER COMPREHENSIVE INCOME (LOSS) | ||||
Change in unrealized gains/losses on securities, net of reclassifications | 4,124 | (3,702) | 22,689 | (16,083) |
Change in funded status of post retirement benefits | 303 | 281 | 910 | 843 |
COMPREHENSIVE INCOME (LOSS) | $ 16,684 | $ 7,892 | $ 58,107 | $ 20,287 |
PER SHARE DATA | ||||
Basic and Diluted Earnings per Share (in dollars per share) | $ 0.93 | $ 0.92 | $ 2.74 | $ 2.90 |
Weighted average number of shares outstanding (in thousands) | 13,141 | 12,255 | 12,574 | 12,253 |
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, 2017 | $ 413,569 | $ 1,822 | $ 75,624 | $ 420,275 | $ (14,704) | $ (69,448) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 35,527 | 0 | 0 | 35,527 | 0 | 0 |
Other comprehensive income (loss) | (15,240) | 0 | 0 | 0 | (15,240) | 0 |
Omnibus Equity Incentive Plan | 559 | 2 | 557 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (391) | 0 | 0 | 0 | ||
Dividends, Common Stock, Cash | (6,250) | 0 | 0 | (6,250) | 0 | 0 |
Balance at Sep. 30, 2018 | 427,774 | 1,824 | 76,181 | 451,918 | (32,310) | (69,839) |
Balance at Jun. 30, 2018 | 419,695 | 1,823 | 75,995 | 440,605 | (28,889) | (69,839) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 11,313 | 0 | 0 | 11,313 | 0 | 0 |
Other comprehensive income (loss) | (3,421) | 0 | 0 | 0 | (3,421) | 0 |
Omnibus Equity Incentive Plan | 187 | 1 | 186 | 0 | 0 | 0 |
Balance at Sep. 30, 2018 | 427,774 | 1,824 | 76,181 | 451,918 | (32,310) | (69,839) |
Balance at Dec. 31, 2018 | 442,701 | 1,824 | 76,774 | 456,716 | (23,454) | (69,159) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 34,508 | 0 | 0 | 34,508 | 0 | 0 |
Other comprehensive income (loss) | 23,599 | 0 | 0 | 0 | 23,599 | 0 |
Omnibus Equity Incentive Plan | 601 | 2 | 599 | 0 | 0 | 0 |
Payments for Repurchase of Common Stock | (315) | 0 | 0 | 0 | ||
Dividends, Common Stock, Cash | (6,390) | 0 | 0 | (6,390) | 0 | 0 |
Balance at Sep. 30, 2019 | 556,582 | 2,004 | 139,073 | 484,834 | 145 | (69,474) |
Balance at Jun. 30, 2019 | 477,820 | 1,826 | 77,173 | 472,577 | (4,282) | (69,474) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 12,257 | 0 | 0 | 12,257 | 0 | 0 |
Other comprehensive income (loss) | 4,427 | 0 | 0 | 0 | 4,427 | 0 |
Omnibus Equity Incentive Plan | 200 | 0 | 200 | 0 | 0 | 0 |
Balance at Sep. 30, 2019 | $ 556,582 | $ 2,004 | $ 139,073 | $ 484,834 | $ 145 | $ (69,474) |
CONSOLIDATED STATEMENTS OF SH_2
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Treasury stock purchase (in shares) | 7,866 | 8,639 | 7,866 | 8,639 |
Cash Dividends (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net Income | $ 34,508 | $ 35,527 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Net amortization (accretion) of premiums and discounts on investments | 3,425 | 2,706 |
Provision for loan losses | 3,200 | 4,298 |
Securities (gains) losses | (18) | (5) |
(Gain) loss on sale of other real estate | 37 | 101 |
Recovery of security for previously written off OTTI | 0 | (4,158) |
Restricted stock compensation | 601 | 559 |
Depreciation and amortization | 3,121 | 3,126 |
Other, net | (5,734) | (633) |
NET CASH FROM OPERATING ACTIVITIES | 39,140 | 41,521 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Calls, maturities and principal reductions on securities available-for-sale | 117,532 | 112,287 |
Purchases of securities available-for-sale | (71,596) | (102,731) |
Increase (Decrease) in Federal Funds Sold | 0 | (7,600) |
Loans made to customers, net of repayment | (61,496) | (39,119) |
Proceeds from Sale of Restricted Investments | 1,228 | 0 |
Payments to Acquire Restricted Investments | (34) | (11) |
Proceeds from sales of other real estate owned | 671 | 1,568 |
Additions to premises and equipment | (1,537) | (1,519) |
NET CASH FROM INVESTING ACTIVITIES | (27,861) | (37,125) |
Payments to Acquire Businesses, Net of Cash Acquired | (12,629) | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net change in deposits | 26,903 | (51,592) |
Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | (44,414) | 994 |
Maturities of other borrowings | (192,000) | (55,600) |
Proceeds from FHLBank Borrowings, Financing Activities | 217,000 | 90,600 |
Purchase of treasury stock | (315) | (391) |
Dividends paid | (12,648) | (12,496) |
Net Cash Provided by (Used in) Financing Activities | (5,474) | (28,485) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 5,805 | (24,089) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 74,388 | 74,107 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 80,193 | $ 50,018 |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2019 | |
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. For the six months ended 2019 and 2018 , 19,783 and 17,220 shares were awarded, respectively. These shares had a grant date value of $841 thousand and $784 thousand for 2019 and 2018 , 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, 2019 | |
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [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, 2019 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 9,481 $ 1,323 $ 7,744 $ 1,702 $ 20,250 Provision for loan losses 163 (10 ) 1,691 (344 ) 1,500 Loans charged -off (864 ) (256 ) (2,082 ) — (3,202 ) Recoveries 226 266 759 — 1,251 Ending Balance $ 9,006 $ 1,323 $ 8,112 $ 1,358 $ 19,799 Allowance for Loan Losses: September 30, 2018 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 9,498 $ 1,382 $ 7,131 $ 2,060 $ 20,071 Provision for loan losses (106 ) (44 ) 1,593 27 1,470 Loans charged -off (409 ) (158 ) (1,781 ) — (2,348 ) Recoveries 354 160 594 — 1,108 Ending Balance $ 9,337 $ 1,340 $ 7,537 $ 2,087 $ 20,301 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, 2019 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 9,848 $ 1,313 $ 7,481 $ 1,794 $ 20,436 Provision for loan losses 5 145 3,486 (436 ) 3,200 Loans charged -off (1,523 ) (675 ) (5,019 ) — (7,217 ) Recoveries 676 540 2,164 — 3,380 Ending Balance $ 9,006 $ 1,323 $ 8,112 $ 1,358 $ 19,799 Allowance for Loan Losses: September 30, 2018 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 10,281 $ 1,455 $ 6,709 $ 1,464 $ 19,909 Provision for loan losses (443 ) 56 4,062 623 4,298 Loans charged -off (1,053 ) (632 ) (5,007 ) — (6,692 ) Recoveries 552 461 1,773 — 2,786 Ending Balance $ 9,337 $ 1,340 $ 7,537 $ 2,087 $ 20,301 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, 2019 and December 31, 2018 . Allowance for Loan Losses September 30, 2019 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Individually evaluated for impairment $ 33 $ — $ — $ — $ 33 Collectively evaluated for impairment 8,973 1,323 8,112 1,358 19,766 Acquired with deteriorated credit quality — — — — — Ending Balance $ 9,006 $ 1,323 $ 8,112 $ 1,358 $ 19,799 Loans: September 30, 2019 (Dollar amounts in thousands) Commercial Residential Consumer Total Individually evaluated for impairment $ 3,415 $ 3,664 $ — $ 7,079 Collectively evaluated for impairment 1,577,863 705,586 375,303 2,658,752 Acquired with deteriorated credit quality 10,000 260 — 10,260 Ending Balance $ 1,591,278 $ 709,510 $ 375,303 $ 2,676,091 Allowance for Loan Losses: December 31, 2018 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Individually evaluated for impairment 737 — — — 737 Collectively evaluated for impairment 9,111 1,313 7,481 1,794 19,699 Acquired with deteriorated credit quality — — — — — Ending Balance $ 9,848 $ 1,313 $ 7,481 $ 1,794 $ 20,436 Loans December 31, 2018 (Dollar amounts in thousands) Commercial Residential Consumer Total Individually evaluated for impairment 6,101 4,415 — 10,516 Collectively evaluated for impairment 1,166,227 440,497 342,473 1,949,197 Acquired with deteriorated credit quality 1,495 — — 1,495 Ending Balance $ 1,173,823 $ 444,912 $ 342,473 $ 1,961,208 The following tables present loans individually evaluated for impairment by class of loans. September 30, 2019 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 $ 1,752 $ 1,222 $ — $ 813 $ — $ — Farmland 2,011 2,011 — 1,999 — — Non Farm, Non Residential — — — — — — Agriculture — — — — — — All Other Commercial 29 29 — 570 — — Residential First Liens 3,664 3,664 — 4,080 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 153 153 33 1,349 — — Farmland — — — 105 — — Non Farm, Non Residential — — — — — — Agriculture — — — 173 — — All Other Commercial — — — — — — Residential First Liens — — — — — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 7,609 $ 7,079 $ 33 $ 9,089 $ — $ — December 31, 2018 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 $ 589 $ 589 $ — $ 698 $ — $ — Farmland 2,022 2,022 — 1,579 — — Non Farm, Non Residential — — — 1,443 — — Agriculture — — — 49 — — All Other Commercial 1,114 1,114 — 1,172 — — Residential First Liens 4,415 4,415 — 3,371 — — Home Equity — — — — — — Junior Liens — — — 23 — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 1,819 1,819 593 688 — — Farmland 211 211 44 1,691 — — Non Farm, Non Residential — — — — — Agriculture 346 346 100 316 — — All Other Commercial — — — — — — Residential First Liens — — — 88 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 10,516 $ 10,516 $ 737 $ 11,118 $ — $ — 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 $ 904 $ — $ — $ 813 $ — $ — Farmland 2,011 — — 1,999 — — Non Farm, Non Residential — — — — — — Agriculture — — — — — — All Other Commercial 29 — — 570 — — Residential First Liens 3,827 — — 4,080 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 922 — — 1,349 — — Farmland — — — 105 — — Non Farm, Non Residential — — — — — — Agriculture — — — 173 — — All Other Commercial — — — — — — Residential First Liens — — — — — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 7,693 $ — $ — $ 9,089 $ — $ — 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 $ 662 $ — $ — $ 725 $ — $ — Farmland 2,007 — — 1,468 — — Non Farm, Non Residential 1,165 — — 1,803 — — Agriculture 6 — — 61 — — All Other Commercial 1,156 — — 1,187 — — Residential First Liens 4,188 — — 3,110 — — Home Equity — — — — — — Junior Liens 39 — — 29 — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 323 — — 405 — — Farmland 1,081 — — 2,061 — — Non Farm, Non Residential — — — — — — Agriculture 80 — — 309 — — All Other Commercial — — — — — — Residential First Liens — — — 111 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 10,707 $ — $ — $ 11,269 $ — $ — The tables below presents the recorded investment in non-performing loans. September 30, 2019 Loans Past Due Over 90 Days Still Troubled Debt Restructured Nonaccrual Excluding (Dollar amounts in thousands) Accruing Accruing Nonaccrual TDR Commercial Commercial & Industrial $ — $ — $ 17 $ 2,401 Farmland — — — 2,439 Non Farm, Non Residential — — — 455 Agriculture — — — 490 All Other Commercial — — — 81 Residential First Liens 586 3,016 445 3,101 Home Equity 7 — — 121 Junior Liens 12 48 9 179 Multifamily — — — — All Other Residential — — — 55 Consumer Motor Vehicle 180 — 15 183 All Other Consumer 5 271 327 347 TOTAL $ 790 $ 3,335 $ 813 $ 9,852 December 31, 2018 Loans Past Due Over 90 Days Still Troubled Debt Restructured Nonaccrual Excluding (Dollar amounts in thousands) Accruing Accruing Nonaccrual TDR Commercial Commercial & Industrial $ — $ 1 $ 144 $ 2,902 Farmland — — — 2,391 Non Farm, Non Residential — — — 81 Agriculture — — — 355 All Other Commercial — — — 1,122 Residential First Liens 581 3,327 531 3,393 Home Equity 41 — — 75 Junior Liens 53 55 — 86 Multifamily — — — — All Other Residential — — — 64 Consumer Motor Vehicle 177 1 — 125 All Other Consumer — 268 349 380 TOTAL $ 852 $ 3,652 $ 1,024 $ 10,974 The loss share agreement with the FDIC has ended. There were $19 thousand included in loans past due over 90 days still on accrual at December 31, 2018 . There were $91 thousand of covered loans included in non-accrual loans at December 31, 2018 . There were no covered loans at December 31, 2018 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, 2019 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 $ 988 $ 116 $ 832 $ 1,936 $ 601,368 $ 603,304 Farmland — 5 2,100 2,105 136,959 139,064 Non Farm, Non Residential 60 — — 60 409,728 409,788 Agriculture 493 — — 493 159,886 160,379 All Other Commercial 75 47 29 151 278,592 278,743 Residential First Liens 1,386 1,443 1,364 4,193 410,637 414,830 Home Equity 326 25 11 362 69,537 69,899 Junior Liens 355 101 126 582 53,078 53,660 Multifamily — — — — 163,803 163,803 All Other Residential — — — — 7,318 7,318 Consumer Motor Vehicle 4,629 801 251 5,681 337,055 342,736 All Other Consumer 132 32 10 174 32,393 32,567 TOTAL $ 8,444 $ 2,570 $ 4,723 $ 15,737 $ 2,660,354 $ 2,676,091 December 31, 2018 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 $ 1,017 $ 420 $ 345 $ 1,782 $ 518,239 $ 520,021 Farmland 515 8 2,136 2,659 104,981 107,640 Non Farm, Non Residential — — 57 57 188,706 188,763 Agriculture 41 — 347 388 148,345 148,733 All Other Commercial 30 3 — 33 208,633 208,666 Residential First Liens 3,365 429 1,473 5,267 231,684 236,951 Home Equity 155 8 110 273 39,378 39,651 Junior Liens 132 225 63 420 49,111 49,531 Multifamily — — — — 109,609 109,609 All Other Residential — 9 15 24 9,146 9,170 Consumer Motor Vehicle 4,766 609 177 5,552 309,238 314,790 All Other Consumer 208 7 12 227 27,456 27,683 TOTAL $ 10,229 $ 1,718 $ 4,735 $ 16,682 $ 1,944,526 $ 1,961,208 During the three and nine months ended September 30, 2019 and 2018 , the terms of certain loans were modified as troubled debt restructurings (TDRs). The following tables present the activity for TDRs. 2019 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, $ 127 $ 3,797 $ 617 $ 4,541 Added — — 73 73 Charged Off — — (35 ) (35 ) Payments (110 ) (300 ) (42 ) (452 ) September 30, $ 17 $ 3,497 $ 613 $ 4,127 2019 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, $ 145 $ 4,043 $ 618 $ 4,806 Added — 122 236 358 Charged Off — (16 ) (81 ) (97 ) Payments (128 ) (652 ) (160 ) (940 ) September 30, $ 17 $ 3,497 $ 613 $ 4,127 2018 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, 2,577 3,607 635 6,819 Added — 538 94 632 Charged Off — — (7 ) (7 ) Payments (2,374 ) (165 ) (58 ) (2,597 ) September 30, 203 3,980 664 4,847 2018 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, 2,709 3,611 714 7,034 Added — 751 237 988 Charged Off — (16 ) (83 ) (99 ) Payments (2,506 ) (366 ) (204 ) (3,076 ) September 30, 203 3,980 664 4,847 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 2019 or 2018 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 months ended September 30, 2019 and 2018 did not result in any material charge-offs or additional provision expense. The Corporation has no allocations of specific reserves to customers whose loan terms have been modified in troubled debt restructurings as of September 30, 2019 and 2018 . The Corporation has not committed to lend additional amounts as of September 30, 2019 and 2018 to customers with outstanding loans that are classified as troubled debt restructurings. None of the charge-offs during the three and nine months ended September 30, 2019 and 2018 were of restructurings that had occurred 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 those with an outstanding balance less than $100 thousand or are included in groups of homogeneous loans. As of September 30, 2019 and December 31, 2018 , and based on the most recent analysis performed, the risk category of loans by class of loans are as follows: September 30, 2019 (Dollar amounts in thousands) Pass Special Mention Substandard Doubtful Not Rated Total Commercial Commercial & Industrial $ 550,274 $ 18,205 $ 26,901 $ 4 $ 6,228 $ 601,612 Farmland 121,097 7,472 8,354 — 10 136,933 Non Farm, Non Residential 390,707 5,469 12,577 — 622 409,375 Agriculture 125,250 4,239 27,654 — 568 157,711 All Other Commercial 269,763 4,123 155 — 3,330 277,371 Residential First Liens 193,626 1,142 4,540 — 214,651 413,959 Home Equity 18,375 — 452 — 51,008 69,835 Junior Liens 2,895 67 185 76 50,318 53,541 Multifamily 161,976 1,440 — — 21 163,437 All Other Residential — — 13 — 7,271 7,284 Consumer Motor Vehicle 3,224 — 470 — 337,630 341,324 All Other Consumer 3,691 — 33 — 28,699 32,423 TOTAL $ 1,840,878 $ 42,157 $ 81,334 $ 80 $ 700,356 $ 2,664,805 December 31, 2018 (Dollar amounts in thousands) Pass Special Mention Substandard Doubtful Not Rated Total Commercial Commercial & Industrial $ 472,008 $ 20,600 $ 18,374 $ — $ 7,428 $ 518,410 Farmland 90,367 7,587 7,783 — 19 105,756 Non Farm, Non Residential 170,757 5,442 10,439 — 1,695 188,333 Agriculture 118,952 10,010 16,637 — 457 146,056 All Other Commercial 198,302 43 6,777 — 2,675 207,797 Residential First Liens 43,915 1,043 3,504 — 187,685 236,147 Home Equity 963 — 148 — 38,471 39,582 Junior Liens 1,983 74 224 76 47,060 49,417 Multifamily 109,361 — — — 17 109,378 All Other Residential — — 15 — 9,131 9,146 Consumer Motor Vehicle — — 627 — 312,863 313,490 All Other Consumer — — 34 — 27,517 27,551 TOTAL $ 1,206,608 $ 44,799 $ 64,562 $ 76 $ 635,018 $ 1,951,063 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | September 30, 2019 (Dollar amounts in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government agencies $ 105,115 $ 2,205 $ (44 ) $ 107,276 Mortgage Backed Securities - residential 214,486 2,558 (308 ) 216,736 Mortgage Backed Securities - commercial 24,193 231 — 24,424 Collateralized mortgage obligations 306,699 2,243 (904 ) 308,038 State and municipal obligations 257,889 11,842 (75 ) 269,656 Municpal taxable 731 1 — 732 U.S. Treasury 9,471 7 — 9,478 Collateralized debt obligations 7 3,597 — 3,604 TOTAL $ 918,591 $ 22,684 $ (1,331 ) $ 939,944 December 31, 2018 (Dollar amounts in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government agencies $ 25,617 $ 218 $ (471 ) $ 25,364 Mortgage Backed Securities-residential 182,050 723 (4,030 ) 178,743 Collateralized mortgage obligations 352,823 217 (9,424 ) 343,616 State and municipal obligations 232,457 2,767 (1,289 ) 233,935 Collateralized debt obligations 137 3,121 — 3,258 TOTAL $ 793,084 $ 7,046 $ (15,214 ) $ 784,916 Contractual maturities of debt securities at September 30, 2019 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 $ 17,600 $ 17,633 Due after one but within five years 64,741 65,565 Due after five but within ten years 73,343 75,416 Due after ten years 217,529 232,132 373,213 390,746 Mortgage-backed securities and collateralized mortgage obligations 545,378 549,198 TOTAL $ 918,591 $ 939,944 There were $6 thousand and $24 thousand in gross gains and zero and $6 thousand in losses from investment sales/calls realized by the Corporation for the three and nine months ended September 30, 2019 . For the three and nine months ended September 30, 2018 there were $3 thousand and $5 thousand in gross gains and no losses on sales of investment securities. 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, 2019 and December 31, 2018 . September 30, 2019 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 U.S. Government agencies $ 9,362 $ (44 ) $ — $ — $ 9,362 $ (44 ) Mortgage Backed Securities - Residential $ 34,500 $ (129 ) $ 22,585 $ (179 ) $ 57,085 $ (308 ) Collateralized mortgage obligations 60,615 (186 ) 65,977 (718 ) 126,592 (904 ) State and municipal obligations 11,015 (37 ) 459 (38 ) 11,474 (75 ) U.S. Treasury 1,993 — — — 1,993 — Total temporarily impaired securities $ 117,485 $ (396 ) $ 89,021 $ (935 ) $ 206,506 $ (1,331 ) December 31, 2018 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 US Government Agencies $ 3,052 $ (4 ) $ 11,356 $ (467 ) $ 14,408 $ (471 ) Mortgage Backed Securities - Residential $ 39,997 $ (553 ) $ 111,423 $ (3,477 ) $ 151,420 $ (4,030 ) Collateralized mortgage obligations 52,838 (455 ) 241,373 (8,969 ) 294,211 (9,424 ) State and municipal obligations 34,229 (276 ) 41,742 (1,013 ) 75,971 (1,289 ) Total temporarily impaired securities $ 130,116 $ (1,288 ) $ 405,894 $ (13,926 ) $ 536,010 $ (15,214 ) 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 $1.3 million as of September 30, 2019 and $15.2 million as of December 31, 2018 . 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 is one remaining collateralized debt obligations security with previously recorded OTTI but there was no additional OTTI recorded in 2019 or 2018 . During the quarter ended June 30, 2018, an obligation was called, resulting in the elimination of the OTTI associated with that obligation. A recovery of previously recorded OTTI of $4.2 million was received and recognized in non-interest income for the period. In addition the Corporation received $2.4 million of interest income associated with the call. The table below presents a rollforward of the credit losses recognized in earnings for the three and nine month periods ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, (Dollar amounts in thousands) 2019 2018 2019 2018 Beginning balance $ 2,974 $ 2,974 $ 2,974 $ 7,132 Increases to the amount related to the credit Loss for which other-than-temporary was previously recognized — — — — Reductions for increases in cash flows collected — — — — Reductions for securities called during the period — — — (4,158 ) Ending balance $ 2,974 $ 2,974 $ 2,974 $ 2,974 |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 107,276 $ — $ 107,276 Mortgage Backed Securities-residential — 216,736 — 216,736 Mortgage Backed Securities-commercial — 24,424 — 24,424 Collateralized mortgage obligations — 308,038 — 308,038 State and municipal — 267,091 2,565 269,656 Municipal taxable — 732 — 732 U.S. Treasury — 9,478 — 9,478 Collateralized debt obligations — — 3,604 3,604 TOTAL $ — $ 933,775 $ 6,169 $ 939,944 Derivative Assets 1,099 Derivative Liabilities (1,099 ) December 31, 2018 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 25,364 $ — $ 25,364 Mortgage Backed Securities-residential — 178,743 — 178,743 Mortgage Backed Securities-commercial — — — — Collateralized mortgage obligations — 343,616 — 343,616 State and municipal — 230,800 3,135 233,935 Collateralized debt obligations — — 3,258 3,258 TOTAL $ — $ 778,523 $ 6,393 $ 784,916 Derivative Assets 218 Derivative Liabilities (218 ) There were no transfers between Level 1 and Level 2 during 2019 and 2018 . 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, 2019 and the year ended December 31, 2018 . Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended September 30, 2019 (Dollar amounts in thousands) State and municipal obligations Collateralized debt obligations Total Beginning balance, July 1 $ 2,890 $ 3,333 $ 6,223 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 315 315 Transfers — — — Settlements (325 ) (44 ) (369 ) Ending balance, September 30 $ 2,565 $ 3,604 $ 6,169 Nine Months Ended September 30, 2019 (Dollar amounts in thousands) State and Collateralized Total Beginning balance, January 1 $ 3,135 $ 3,258 $ 6,393 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 476 476 Transfers — — — Settlements (570 ) (130 ) (700 ) Ending balance, September 30 $ 2,565 $ 3,604 $ 6,169 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2018 (Dollar amounts in thousands) State and municipal obligations Collateralized debt obligations Total Beginning balance, January 1 $ 3,680 $ 14,605 $ 18,285 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — (2,840 ) (2,840 ) Purchases — — — Settlements (545 ) (8,507 ) (9,052 ) Ending balance, December 31 $ 3,135 $ 3,258 $ 6,393 The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at September 30, 2019 . (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 2,565 Discounted cash flow Discount rate 2.87%-4.44% 0% Other real estate $ 3,717 Sales comparison/income approach Discount rate for age of appraisal and market conditions 5.00%-20.00% Impaired Loans $ 120 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, 2018 . (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 3,135 Discounted cash flow Discount rate 2.64%-4.80% 0% Other real estate $ 603 Sales comparison/income approach Discount rate for age of appraisal and market conditions 5.00%-20.00% Impaired Loans 1,639 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 $120 thousand , after a valuation allowance of $33 thousand at September 30, 2019 and at a fair value of $1.6 million , net of a valuation allowance of $737 thousand at December 31, 2018 . The impact to the provision for loan losses for the three and nine months ended September 30, 2019 and for the twelve months ended December 31, 2018 was a $625 thousand decrease, a $704 thousand decrease and a $112 thousand increase, respectively. Other real estate owned is valued at Level 3. Other real estate owned at September 30, 2019 with a value of $3.7 million was reduced $97 thousand for fair value adjustment. At September 30, 2019 other real estate owned was comprised of $3.5 million from commercial loans and $207 thousand from residential loans. Other real estate owned at December 31, 2018 with a value of $603 thousand was reduced $598 thousand for fair value adjustment. At December 31, 2018 other real estate owned was comprised of $171 thousand from commercial loans and $432 thousand 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 than 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, and carried at fair value on a non-recurring basis, as of September 30, 2019 and December 31, 2018 , which are all considered Level 3. September 30, 2019 (Dollar amounts in thousands) Carrying Value Allowance for Loan Losses Allocated Fair Value Commercial Commercial & Industrial $ 153 $ 33 $ 120 Farmland — — — Non Farm, Non Residential — — — Agriculture — — — All Other Commercial — — — Residential First Liens — — — Home Equity — — — Junior Liens — — — Multifamily — — — All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 153 $ 33 $ 120 December 31, 2018 (Dollar amounts in thousands) Carrying Value Allowance for Loan Losses Allocated Fair Value Commercial Commercial & Industrial $ 1,819 $ 593 $ 1,226 Farmland 211 44 167 Non Farm, Non Residential — — — Agriculture 346 100 246 All Other Commercial — — — Residential First Liens — — — Home Equity — — — Junior Liens — — — Multifamily — — — All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 2,376 $ 737 $ 1,639 The carrying amounts and estimated fair value of financial instruments at September 30, 2019 and December 31, 2018 , 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 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, 2019 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 80,193 $ 22,625 $ 57,568 $ — $ 80,193 Federal funds sold — — — — — Securities available-for-sale 939,944 — 933,775 6,169 939,944 Restricted stock 13,624 n/a n/a n/a n/a Loans, net 2,648,677 — — 2,674,336 2,674,336 Accrued interest receivable 18,735 — 5,180 13,555 18,735 Deposits (3,220,122 ) — (3,210,216 ) — (3,210,216 ) Short-term borrowings (90,852 ) — (90,852 ) — (90,852 ) Accrued interest payable (1,790 ) — (1,790 ) — (1,790 ) December 31, 2018 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 74,388 $ 23,418 $ 50,970 $ — $ 74,388 Securities available-for-sale 784,916 — 778,523 6,393 784,916 Restricted stock 10,390 n/a n/a n/a n/a Loans, net 1,933,552 — — 1,889,795 1,889,795 Accrued interest receivable 13,970 — 3,005 10,965 13,970 Deposits (2,436,727 ) — (2,426,128 ) — (2,426,128 ) Short-term borrowings (69,656 ) — (69,656 ) — (69,656 ) Accrued interest payable (609 ) — (609 ) — (609 ) |
Short-Term Borrowings
Short-Term Borrowings | 9 Months Ended |
Sep. 30, 2019 | |
Short-term Debt [Abstract] | |
Short-Term Borrowings | Short-Term Borrowings Period–end short-term borrowings were comprised of the following: (000 's) September 30, 2019 December 31, 2018 Federal Funds Purchased $ 11,126 $ 43,250 Repurchase Agreements 79,726 26,406 $ 90,852 $ 69,656 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, 2019 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 $ 70,382 $ — $ — $ 9,344 $ 79,726 December 31, 2018 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 $ 10,870 $ 6,307 $ 8,683 $ 546 $ 26,406 |
Components of Net Periodic Bene
Components of Net Periodic Benefit Cost | 9 Months Ended |
Sep. 30, 2019 | |
Retirement Benefits [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 2019 2018 2019 2018 2019 2018 2019 2018 Service cost $ 304 $ 347 $ 9 $ 10 $ 913 $ 1,041 $ 26 $ 31 Interest cost 866 798 36 33 2,599 2,395 109 98 Expected return on plan assets (896 ) (991 ) — — (2,689 ) (2,972 ) — — Net amortization of prior service cost — — — — 1 1 — — Net amortization of net (gain) loss 389 362 (4 ) — 1,168 1,085 (12 ) — Net Periodic Benefit Cost $ 663 $ 516 $ 41 $ 43 $ 1,992 $ 1,550 $ 123 $ 129 Employer Contributions First Financial Corporation previously disclosed in its financial statements for the year ended December 31, 2018 that it expected to contribute $1.8 million and $ 814 thousand respectively to its Pension Plan and ESOP and $233 thousand to the Post Retirement Health Benefits Plan in 2019 . Contributions of $1,767 thousand have been made to the Pension Plan thus far in 2019 . Contributions of $188 thousand have been made through the first nine months of 2019 for the Post Retirement Health Benefits plan. No contributions have been made in 2019 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 2019 and 2018 there has been $1.1 million and $1.3 million of expense accrued for potential contributions to these alternative retirement benefit options. |
New accounting standards
New accounting standards | 9 Months Ended |
Sep. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New accounting standards | New accounting standards Accounting Pronouncements Adopted: In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases. The FASB issued this ASU to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet by lessees for those leases classified as operating leases under current U.S. GAAP and disclosing key information about leasing arrangements. The new standard was adopted by the Corporation on January 1, 2019. ASU 2016-02 provides for a modified retrospective transition approach requiring lessees to recognize and measure leases on the balance sheet at the beginning of either the earliest period presented or as of the beginning of the period of adoption. The Corporation elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and did not restate comparative periods. Adoption of ASU 2016-02 resulted in the recognition of lease liabilities totaling $7 million and the recognition of right-of-use assets totaling $7 million as of the date of adoption. Lease liabilities and right-of-use assets are reflected in other liabilities and other assets, respectively. The initial balance sheet gross up upon adoption was primarily related to operating leases of certain real estate properties. The Corporation has no finance leases or material subleases or leasing arrangements for which it is the lessor of property or equipment. The Corporation has elected to apply the package of practical expedients allowed by the new standard under which the Corporation need not reassess whether any expired or existing contracts are leases or contain leases, the Corporation need not reassess the lease classification for any expired or existing lease, and the Corporation need not reassess initial direct costs for any existing leases. Adoption of ASU 2016-02 did not materially change the Corporation’s recognition of lease expense. See Note 11 - Leases for additional disclosures related to leases. In July 2018, the FASB issued ASU No. 2018-11, Leases - Targeted Improvements, to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU No. 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2019 for the Corporation). The Corporation elected both transition options on January 1, 2019. ASU 2018-11 did not have a material impact on the Corporation’s financial statements. Recent Accounting Pronouncements: In June 2016 ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASU 2016-13), was issued and requires entities to use a current expected credit loss ("CECL") model which is a new impairment model based on expected losses rather than incurred losses. Under this model an entity would recognize an impairment allowance equal to its current estimate of all contractual cash flows that the entity does not expect to collect from financial assets measured at amortized cost. The entity's estimate would consider relevant information about past events, current conditions, and reasonable and supportable forecasts, which will result in recognition of lifetime expected credit losses upon loan origination. ASU 2016-13 is effective for interim and annual reporting periods beginning after December 15, 2019, with early adoption permitted for annual reporting periods beginning after December 15, 2018. Management initiated an implementation committee to assist in assessing data and system needs for the new standard. Management has loaded a model and is planning to run parallel calculations in the fourth quarter. Management anticipates the effect will be an increase to the allowance for loan losses upon adoption, however, the overall increase is uncertain at this time. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment. The guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. All other goodwill impairment guidance will remain largely unchanged. ASU No. 2017-04 is effective for interim and annual reporting periods beginning after December 15, 2019, applied prospectively. Early adoption is permitted for any impairment tests performed after January 1, 2017. The Corporation is assessing ASU 2017-04 but does not expect a significant impact on its accounting and disclosures. In August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements. Among the changes, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but will be required to disclose the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. ASU No. 2018-13 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. Entities are also allowed to elect early adoption the eliminated or modified disclosure requirements and delay adoption of the new disclosure requirements until their effective date. As ASU No. 2018-13 only revises disclosure requirements, it will not have a material impact on the Corporation’s financial statements. In August 2018, the FASB issued ASU No. 2018-14, Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. ASU 2018-14 is effective for fiscal years ending after December 15, 2020; early adoption is permitted. As ASU 2018-14 only revises disclosure requirements, it will not have a material impact on the Corporation’s financial statements. In September 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This ASU requires an entity in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized implementation costs should be presented in the same line item on the balance sheet as amounts prepaid for the hosted service, if any (generally as an “other asset”). The capitalized costs will be amortized over the term of the hosting arrangement, with the amortization expense being presented in the same income statement line item as the fees paid for the hosted service. ASU 2018-15 is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted. ASU 2018-15 will not have a material impact on the Corporation’s financial statements. |
Acquisitions and FDIC Indemnifi
Acquisitions and FDIC Indemnification Asset | 9 Months Ended |
Sep. 30, 2019 | |
Business Combinations [Abstract] | |
Acquisitions and FDIC Indemnification Asset | Acquisitions, Divestitures and FDIC Indemnification Asset On July 27, 2019, the Corporation completed its acquisition of HopFed Bancorp, Inc. and its banking subsidiary, Heritage Bank. Therefore, the results of HopFed have been included in the results of operations beginning on July 27, 2019. Pursuant to the terms of the merger agreement, each issued and outstanding share of HopFed common stock, $0.01 par value per share, was converted into the right to receive, at the stockholder's election, either (or a combination of) 0.444 shares of Corporation common stock, without par value, or $21.00 in cash, subject to proration provisions specified in the merger agreement that provide for an aggregate split of 50% of shares of HopFed Common Stock being exchanged for Corporation Common Stock and 50% for cash, with cash to be paid in lieu of fractional shares. Each outstanding share of Corporation common stock remained outstanding and was unaffected by the merger. Acquisition-related costs of $2.9 million are included in the Corporation's income statement for the nine months ended September 30, 2019. Goodwill of $41.1 million arising from the acquisition consisted largely of synergies and the cost savings resulting from the combining of the operations of the companies. The goodwill is not deductible for income tax purposes as the transaction was accounted for as a tax-free exchange. The following table summarizes the consideration paid and the amounts of the assets acquired and liabilities assumed recognized at the acquisition date. (Dollar amounts in thousands) HopFed Consideration Cash consideration $ 67,348 Stock consideration 61,878 Fair value of total consideration transferred $ 129,226 Assets acquired Cash $ 34,518 Investment securities available-for-sale 185,544 Federal Home Loan Bank stock 4,428 Loans 657,179 Premises and equipment 25,316 Core deposit intangibles 10,369 Other real estate owned 3,364 Other assets 6,596 Total assets acquired 927,314 Liabilities assumed Deposits 735,526 FHLB advances 20,775 Other borrowings 75,783 Other liabilities 7,066 Total liabilities assumed 839,150 Net identifiable assets 88,164 Goodwill $ 41,062 The fair value of net assets acquired includes fair value adjustments to certain receivables that were not considered impaired as of the acquisition date. The fair value adjustments were determined using discounted contractual cash flows. However, the Corporation believes that all contractual cash flows related to these financial instruments will be collected. As such, these receivables were not considered impaired at the acquisition date and were not subject to guidance relating to purchase credit impaired loans, which have shown evidence of credit deterioration since origination. The following table presents supplemental pro forma information as if the acquisition had occurred at the beginning of 2019. The unaudited pro forma information includes adjustments for interest income on loans and securities acquired, interest expense on deposits acquired, and the related income tax effects. The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the transactions been effected on the assumed dates. Nine months ended September 30, 2019 (Dollar amounts in thousands, except per share data) 2019 2018 Net interest income $ 95,237 $ 86,984 Net income $ 28,226 $ 35,527 Basic and diluted earnings per share $ 2.24 $ 2.90 The Bank was party to a loss sharing agreement with the FDIC as a result of a 2009 acquisition. Under the loss-sharing agreement (“LSA”), the Bank shared in the losses on assets covered under the agreement (referred to as covered assets). On losses up to $29 million , the FDIC agreed to reimburse the Bank for 80 percent of the losses. On losses exceeding $29 million , the FDIC agreed to reimburse the Bank for 95 percent of the losses. The loss-sharing agreement was subject to following servicing procedures as specified in the agreement with the FDIC. Loans acquired that were subject to the loss-sharing agreement with the FDIC were 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 carried an immaterial balance in the indemnification asset. The balance of loans that were covered by the loss share agreement at September 30, 2019 and December 31, 2018 totaled $2.8 million and $3.2 million , respectively. The agreement expired on July 2, 2019. 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. Purchase credit impaired loans purchased during the nine months ending September 30, 2019, for which it was probable at acquisition that all contractually required payments would not be collected are as follows: (Dollar amount in thousands) 2019 Contractually required payments receivable of loans purchased during the year: Commercial $ 16,530 Consumer 391 $ 16,921 Fair value of acquired loans at acquisition $ 8,870 The carrying amount of loans accounted for in accordance with FASB ASC 310-30 at September 30, 2019 and 2018 are shown in the following tables: 2019 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, July 1, $ 1,458 $ — $ 1,458 Loans added 8,610 260 8,870 Discount accretion — — — Disposals (35 ) — (35 ) ASC 310-30 Loans, September 30, $ 10,033 $ 260 $ 10,293 2019 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, January 1, $ 1,530 $ — $ 1,530 Loans added 8,610 260 8,870 Discount accretion — — — Disposals (107 ) — (107 ) ASC 310-30 Loans, September 30, $ 10,033 $ 260 $ 10,293 2018 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, July 1, $ 1,598 $ — $ 1,598 Discount accretion — — — Disposals (16 ) — (16 ) ASC 310-30 Loans, September 30, $ 1,582 $ — $ 1,582 2018 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, January 1, $ 1,896 $ — $ 1,896 Discount accretion — — — Disposals (314 ) — (314 ) ASC 310-30 Loans, September 30, $ 1,582 $ — $ 1,582 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | Accumulated Other Comprehensive Income The following tables summarize the changes, net of tax, within each classification of accumulated other comprehensive income/(loss) for the three and nine months ended September 30, 2019 and 2018 . Unrealized gains and 2019 (Losses) on available- for-sale Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 12,460 $ (16,742 ) $ (4,282 ) Change in other comprehensive income (loss) before reclassification 4,128 — 4,128 Amounts reclassified from accumulated other comprehensive income (4 ) 303 299 Net current period other comprehensive income (loss) 4,124 303 4,427 Ending balance, September 30, $ 16,584 $ (16,439 ) $ 145 Unrealized gains and 2019 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ (6,105 ) $ (17,349 ) $ (23,454 ) Change in other comprehensive income (loss) before reclassification 22,702 — 22,702 Amounts reclassified from accumulated other comprehensive income (13 ) 910 897 Net current period other comprehensive income (loss) 22,689 910 23,599 Ending balance, September 30, $ 16,584 $ (16,439 ) $ 145 Unrealized gains and 2018 (Losses) on available- for-sale Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ (9,625 ) $ (19,264 ) $ (28,889 ) Change in other comprehensive income (loss) before reclassification (3,700 ) — (3,700 ) Amounts reclassified from accumulated other comprehensive income (2 ) 281 279 Net current period other comprehensive income (loss) (3,702 ) 281 (3,421 ) Ending balance, September 30, $ (13,327 ) $ (18,983 ) $ (32,310 ) Unrealized gains and 2018 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 2,258 $ (16,962 ) $ (14,704 ) Change in other comprehensive income (loss) before reclassification (16,079 ) — (16,079 ) Amounts reclassified from accumulated other comprehensive income (4 ) 843 839 Net current period other comprehensive income (loss) (16,083 ) 843 (15,240 ) ASU 2018-02 adjustment 498 (2,864 ) (2,366 ) Ending balance, September 30, $ (13,327 ) $ (18,983 ) $ (32,310 ) Balance at Current Period Balance at (Dollar amounts in thousands) 7/1/2019 Change 9/30/2019 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ 9,998 $ 3,888 $ 13,886 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,462 236 2,698 Total unrealized loss on securities available-for-sale $ 12,460 $ 4,124 $ 16,584 Unrealized gain (loss) on retirement plans (16,742 ) 303 (16,439 ) TOTAL $ (4,282 ) $ 4,427 $ 145 Balance at Current Period Balance at (Dollar amounts in thousands) 1/1/2019 Change 9/30/2019 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ (8,446 ) $ 22,332 $ 13,886 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,341 357 2,698 Total unrealized gain (loss) on securities available-for-sale $ (6,105 ) $ 22,689 $ 16,584 Unrealized loss on retirement plans (17,349 ) 910 (16,439 ) TOTAL $ (23,454 ) $ 23,599 $ 145 Balance at Current Period Balance at (Dollar amounts in thousands) 7/1/2018 Change 9/30/2018 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ (11,592 ) $ (3,710 ) $ (15,302 ) Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 1,967 8 1,975 Total unrealized gain (loss) on securities available-for-sale $ (9,625 ) $ (3,702 ) $ (13,327 ) Unrealized loss on retirement plans (19,264 ) 281 (18,983 ) TOTAL $ (28,889 ) $ (3,421 ) $ (32,310 ) Balance at Current Period ASU 2018-02 Balance at (Dollar amounts in thousands) 1/1/2018 Change Adjustment 9/30/2018 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ (1,371 ) $ (11,067 ) $ (2,864 ) $ (15,302 ) Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 3,629 (1,654 ) 1,975 Total unrealized income (loss) on securities available-for-sale $ 2,258 $ (12,721 ) $ (2,864 ) $ (13,327 ) Unrealized gain (loss) on retirement plans (16,962 ) (2,519 ) 498 (18,983 ) TOTAL $ (14,704 ) $ (15,240 ) $ (2,366 ) $ (32,310 ) Three Months Ended September 30, 2019 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 $ 6 Net securities gains (losses) on available-for-sale (2 ) Income tax expense securities $ 4 Net of tax Amortization of $ (389 ) (a) Salary and benefits retirement plan items 86 Income tax expense $ (303 ) Net of tax Total reclassifications for the period $ (299 ) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). Nine Months Ended September 30, 2019 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 $ 18 Net securities gains (losses) on available-for-sale (5 ) Income tax expense securities $ 13 Net of tax Amortization of $ (1,168 ) (a) Salary and benefits retirement plan items 258 Income tax expense $ (910 ) Net of tax Total reclassifications for the period $ (897 ) Net of tax Three Months Ended September 30, 2018 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 $ 3 Net securities gains (losses) on available-for-sale (1 ) Income tax expense securities $ 2 Net of tax Amortization of $ (362 ) (a) Salary and benefits retirement plan items 81 Income tax expense $ (281 ) Net of tax Total reclassifications for the period $ (279 ) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). Nine Months Ended September 30, 2018 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 $ 5 Net securities gains (losses) on available-for-sale (1 ) Income tax expense securities $ 4 Net of tax Amortization of $ (1,085 ) (a) Salary and benefits retirement plan items 242 Income tax expense $ (843 ) Net of tax Total reclassifications for the period $ (839 ) Net of tax |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [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, 2019 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 9,481 $ 1,323 $ 7,744 $ 1,702 $ 20,250 Provision for loan losses 163 (10 ) 1,691 (344 ) 1,500 Loans charged -off (864 ) (256 ) (2,082 ) — (3,202 ) Recoveries 226 266 759 — 1,251 Ending Balance $ 9,006 $ 1,323 $ 8,112 $ 1,358 $ 19,799 Allowance for Loan Losses: September 30, 2018 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Beginning balance $ 9,498 $ 1,382 $ 7,131 $ 2,060 $ 20,071 Provision for loan losses (106 ) (44 ) 1,593 27 1,470 Loans charged -off (409 ) (158 ) (1,781 ) — (2,348 ) Recoveries 354 160 594 — 1,108 Ending Balance $ 9,337 $ 1,340 $ 7,537 $ 2,087 $ 20,301 |
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, 2019 and December 31, 2018 . Allowance for Loan Losses September 30, 2019 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Individually evaluated for impairment $ 33 $ — $ — $ — $ 33 Collectively evaluated for impairment 8,973 1,323 8,112 1,358 19,766 Acquired with deteriorated credit quality — — — — — Ending Balance $ 9,006 $ 1,323 $ 8,112 $ 1,358 $ 19,799 Loans: September 30, 2019 (Dollar amounts in thousands) Commercial Residential Consumer Total Individually evaluated for impairment $ 3,415 $ 3,664 $ — $ 7,079 Collectively evaluated for impairment 1,577,863 705,586 375,303 2,658,752 Acquired with deteriorated credit quality 10,000 260 — 10,260 Ending Balance $ 1,591,278 $ 709,510 $ 375,303 $ 2,676,091 Allowance for Loan Losses: December 31, 2018 (Dollar amounts in thousands) Commercial Residential Consumer Unallocated Total Individually evaluated for impairment 737 — — — 737 Collectively evaluated for impairment 9,111 1,313 7,481 1,794 19,699 Acquired with deteriorated credit quality — — — — — Ending Balance $ 9,848 $ 1,313 $ 7,481 $ 1,794 $ 20,436 Loans December 31, 2018 (Dollar amounts in thousands) Commercial Residential Consumer Total Individually evaluated for impairment 6,101 4,415 — 10,516 Collectively evaluated for impairment 1,166,227 440,497 342,473 1,949,197 Acquired with deteriorated credit quality 1,495 — — 1,495 Ending Balance $ 1,173,823 $ 444,912 $ 342,473 $ 1,961,208 |
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, 2019 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 $ 1,752 $ 1,222 $ — $ 813 $ — $ — Farmland 2,011 2,011 — 1,999 — — Non Farm, Non Residential — — — — — — Agriculture — — — — — — All Other Commercial 29 29 — 570 — — Residential First Liens 3,664 3,664 — 4,080 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 153 153 33 1,349 — — Farmland — — — 105 — — Non Farm, Non Residential — — — — — — Agriculture — — — 173 — — All Other Commercial — — — — — — Residential First Liens — — — — — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 7,609 $ 7,079 $ 33 $ 9,089 $ — $ — December 31, 2018 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 $ 589 $ 589 $ — $ 698 $ — $ — Farmland 2,022 2,022 — 1,579 — — Non Farm, Non Residential — — — 1,443 — — Agriculture — — — 49 — — All Other Commercial 1,114 1,114 — 1,172 — — Residential First Liens 4,415 4,415 — 3,371 — — Home Equity — — — — — — Junior Liens — — — 23 — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — With an allowance recorded: Commercial Commercial & Industrial 1,819 1,819 593 688 — — Farmland 211 211 44 1,691 — — Non Farm, Non Residential — — — — — Agriculture 346 346 100 316 — — All Other Commercial — — — — — — Residential First Liens — — — 88 — — Home Equity — — — — — — Junior Liens — — — — — — Multifamily — — — — — — All Other Residential — — — — — — Consumer Motor Vehicle — — — — — — All Other Consumer — — — — — — TOTAL $ 10,516 $ 10,516 $ 737 $ 11,118 $ — $ — |
Schedule of non-performing loans | The tables below presents the recorded investment in non-performing loans. September 30, 2019 Loans Past Due Over 90 Days Still Troubled Debt Restructured Nonaccrual Excluding (Dollar amounts in thousands) Accruing Accruing Nonaccrual TDR Commercial Commercial & Industrial $ — $ — $ 17 $ 2,401 Farmland — — — 2,439 Non Farm, Non Residential — — — 455 Agriculture — — — 490 All Other Commercial — — — 81 Residential First Liens 586 3,016 445 3,101 Home Equity 7 — — 121 Junior Liens 12 48 9 179 Multifamily — — — — All Other Residential — — — 55 Consumer Motor Vehicle 180 — 15 183 All Other Consumer 5 271 327 347 TOTAL $ 790 $ 3,335 $ 813 $ 9,852 December 31, 2018 Loans Past Due Over 90 Days Still Troubled Debt Restructured Nonaccrual Excluding (Dollar amounts in thousands) Accruing Accruing Nonaccrual TDR Commercial Commercial & Industrial $ — $ 1 $ 144 $ 2,902 Farmland — — — 2,391 Non Farm, Non Residential — — — 81 Agriculture — — — 355 All Other Commercial — — — 1,122 Residential First Liens 581 3,327 531 3,393 Home Equity 41 — — 75 Junior Liens 53 55 — 86 Multifamily — — — — All Other Residential — — — 64 Consumer Motor Vehicle 177 1 — 125 All Other Consumer — 268 349 380 TOTAL $ 852 $ 3,652 $ 1,024 $ 10,974 |
Troubled Debt Restructurings on Financing Receivables | During the three and nine months ended September 30, 2019 and 2018 , the terms of certain loans were modified as troubled debt restructurings (TDRs). The following tables present the activity for TDRs. 2019 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, $ 127 $ 3,797 $ 617 $ 4,541 Added — — 73 73 Charged Off — — (35 ) (35 ) Payments (110 ) (300 ) (42 ) (452 ) September 30, $ 17 $ 3,497 $ 613 $ 4,127 2019 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, $ 145 $ 4,043 $ 618 $ 4,806 Added — 122 236 358 Charged Off — (16 ) (81 ) (97 ) Payments (128 ) (652 ) (160 ) (940 ) September 30, $ 17 $ 3,497 $ 613 $ 4,127 2018 (Dollar amounts in thousands) Commercial Residential Consumer Total July 1, 2,577 3,607 635 6,819 Added — 538 94 632 Charged Off — — (7 ) (7 ) Payments (2,374 ) (165 ) (58 ) (2,597 ) September 30, 203 3,980 664 4,847 2018 (Dollar amounts in thousands) Commercial Residential Consumer Total January 1, 2,709 3,611 714 7,034 Added — 751 237 988 Charged Off — (16 ) (83 ) (99 ) Payments (2,506 ) (366 ) (204 ) (3,076 ) September 30, 203 3,980 664 4,847 |
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, 2019 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 $ 988 $ 116 $ 832 $ 1,936 $ 601,368 $ 603,304 Farmland — 5 2,100 2,105 136,959 139,064 Non Farm, Non Residential 60 — — 60 409,728 409,788 Agriculture 493 — — 493 159,886 160,379 All Other Commercial 75 47 29 151 278,592 278,743 Residential First Liens 1,386 1,443 1,364 4,193 410,637 414,830 Home Equity 326 25 11 362 69,537 69,899 Junior Liens 355 101 126 582 53,078 53,660 Multifamily — — — — 163,803 163,803 All Other Residential — — — — 7,318 7,318 Consumer Motor Vehicle 4,629 801 251 5,681 337,055 342,736 All Other Consumer 132 32 10 174 32,393 32,567 TOTAL $ 8,444 $ 2,570 $ 4,723 $ 15,737 $ 2,660,354 $ 2,676,091 December 31, 2018 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 $ 1,017 $ 420 $ 345 $ 1,782 $ 518,239 $ 520,021 Farmland 515 8 2,136 2,659 104,981 107,640 Non Farm, Non Residential — — 57 57 188,706 188,763 Agriculture 41 — 347 388 148,345 148,733 All Other Commercial 30 3 — 33 208,633 208,666 Residential First Liens 3,365 429 1,473 5,267 231,684 236,951 Home Equity 155 8 110 273 39,378 39,651 Junior Liens 132 225 63 420 49,111 49,531 Multifamily — — — — 109,609 109,609 All Other Residential — 9 15 24 9,146 9,170 Consumer Motor Vehicle 4,766 609 177 5,552 309,238 314,790 All Other Consumer 208 7 12 227 27,456 27,683 TOTAL $ 10,229 $ 1,718 $ 4,735 $ 16,682 $ 1,944,526 $ 1,961,208 |
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 those with an outstanding balance less than $100 thousand or are included in groups of homogeneous loans. As of September 30, 2019 and December 31, 2018 , and based on the most recent analysis performed, the risk category of loans by class of loans are as follows: September 30, 2019 (Dollar amounts in thousands) Pass Special Mention Substandard Doubtful Not Rated Total Commercial Commercial & Industrial $ 550,274 $ 18,205 $ 26,901 $ 4 $ 6,228 $ 601,612 Farmland 121,097 7,472 8,354 — 10 136,933 Non Farm, Non Residential 390,707 5,469 12,577 — 622 409,375 Agriculture 125,250 4,239 27,654 — 568 157,711 All Other Commercial 269,763 4,123 155 — 3,330 277,371 Residential First Liens 193,626 1,142 4,540 — 214,651 413,959 Home Equity 18,375 — 452 — 51,008 69,835 Junior Liens 2,895 67 185 76 50,318 53,541 Multifamily 161,976 1,440 — — 21 163,437 All Other Residential — — 13 — 7,271 7,284 Consumer Motor Vehicle 3,224 — 470 — 337,630 341,324 All Other Consumer 3,691 — 33 — 28,699 32,423 TOTAL $ 1,840,878 $ 42,157 $ 81,334 $ 80 $ 700,356 $ 2,664,805 December 31, 2018 (Dollar amounts in thousands) Pass Special Mention Substandard Doubtful Not Rated Total Commercial Commercial & Industrial $ 472,008 $ 20,600 $ 18,374 $ — $ 7,428 $ 518,410 Farmland 90,367 7,587 7,783 — 19 105,756 Non Farm, Non Residential 170,757 5,442 10,439 — 1,695 188,333 Agriculture 118,952 10,010 16,637 — 457 146,056 All Other Commercial 198,302 43 6,777 — 2,675 207,797 Residential First Liens 43,915 1,043 3,504 — 187,685 236,147 Home Equity 963 — 148 — 38,471 39,582 Junior Liens 1,983 74 224 76 47,060 49,417 Multifamily 109,361 — — — 17 109,378 All Other Residential — — 15 — 9,131 9,146 Consumer Motor Vehicle — — 627 — 312,863 313,490 All Other Consumer — — 34 — 27,517 27,551 TOTAL $ 1,206,608 $ 44,799 $ 64,562 $ 76 $ 635,018 $ 1,951,063 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized cost and fair value of investments classified as available-for-sale | September 30, 2019 (Dollar amounts in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government agencies $ 105,115 $ 2,205 $ (44 ) $ 107,276 Mortgage Backed Securities - residential 214,486 2,558 (308 ) 216,736 Mortgage Backed Securities - commercial 24,193 231 — 24,424 Collateralized mortgage obligations 306,699 2,243 (904 ) 308,038 State and municipal obligations 257,889 11,842 (75 ) 269,656 Municpal taxable 731 1 — 732 U.S. Treasury 9,471 7 — 9,478 Collateralized debt obligations 7 3,597 — 3,604 TOTAL $ 918,591 $ 22,684 $ (1,331 ) $ 939,944 December 31, 2018 (Dollar amounts in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value U.S. Government agencies $ 25,617 $ 218 $ (471 ) $ 25,364 Mortgage Backed Securities-residential 182,050 723 (4,030 ) 178,743 Collateralized mortgage obligations 352,823 217 (9,424 ) 343,616 State and municipal obligations 232,457 2,767 (1,289 ) 233,935 Collateralized debt obligations 137 3,121 — 3,258 TOTAL $ 793,084 $ 7,046 $ (15,214 ) $ 784,916 |
Schedule of contractual maturities of debt securities | Contractual maturities of debt securities at September 30, 2019 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 $ 17,600 $ 17,633 Due after one but within five years 64,741 65,565 Due after five but within ten years 73,343 75,416 Due after ten years 217,529 232,132 373,213 390,746 Mortgage-backed securities and collateralized mortgage obligations 545,378 549,198 TOTAL $ 918,591 $ 939,944 |
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, 2019 and December 31, 2018 . September 30, 2019 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 U.S. Government agencies $ 9,362 $ (44 ) $ — $ — $ 9,362 $ (44 ) Mortgage Backed Securities - Residential $ 34,500 $ (129 ) $ 22,585 $ (179 ) $ 57,085 $ (308 ) Collateralized mortgage obligations 60,615 (186 ) 65,977 (718 ) 126,592 (904 ) State and municipal obligations 11,015 (37 ) 459 (38 ) 11,474 (75 ) U.S. Treasury 1,993 — — — 1,993 — Total temporarily impaired securities $ 117,485 $ (396 ) $ 89,021 $ (935 ) $ 206,506 $ (1,331 ) December 31, 2018 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 US Government Agencies $ 3,052 $ (4 ) $ 11,356 $ (467 ) $ 14,408 $ (471 ) Mortgage Backed Securities - Residential $ 39,997 $ (553 ) $ 111,423 $ (3,477 ) $ 151,420 $ (4,030 ) Collateralized mortgage obligations 52,838 (455 ) 241,373 (8,969 ) 294,211 (9,424 ) State and municipal obligations 34,229 (276 ) 41,742 (1,013 ) 75,971 (1,289 ) Total temporarily impaired securities $ 130,116 $ (1,288 ) $ 405,894 $ (13,926 ) $ 536,010 $ (15,214 ) |
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, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, (Dollar amounts in thousands) 2019 2018 2019 2018 Beginning balance $ 2,974 $ 2,974 $ 2,974 $ 7,132 Increases to the amount related to the credit Loss for which other-than-temporary was previously recognized — — — — Reductions for increases in cash flows collected — — — — Reductions for securities called during the period — — — (4,158 ) Ending balance $ 2,974 $ 2,974 $ 2,974 $ 2,974 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 107,276 $ — $ 107,276 Mortgage Backed Securities-residential — 216,736 — 216,736 Mortgage Backed Securities-commercial — 24,424 — 24,424 Collateralized mortgage obligations — 308,038 — 308,038 State and municipal — 267,091 2,565 269,656 Municipal taxable — 732 — 732 U.S. Treasury — 9,478 — 9,478 Collateralized debt obligations — — 3,604 3,604 TOTAL $ — $ 933,775 $ 6,169 $ 939,944 Derivative Assets 1,099 Derivative Liabilities (1,099 ) December 31, 2018 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Dollar amounts in thousands) Level 1 Level 2 Level 3 Total U.S. Government agencies $ — $ 25,364 $ — $ 25,364 Mortgage Backed Securities-residential — 178,743 — 178,743 Mortgage Backed Securities-commercial — — — — Collateralized mortgage obligations — 343,616 — 343,616 State and municipal — 230,800 3,135 233,935 Collateralized debt obligations — — 3,258 3,258 TOTAL $ — $ 778,523 $ 6,393 $ 784,916 Derivative Assets 218 Derivative Liabilities (218 ) |
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, 2019 and the year ended December 31, 2018 . Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Three Months Ended September 30, 2019 (Dollar amounts in thousands) State and municipal obligations Collateralized debt obligations Total Beginning balance, July 1 $ 2,890 $ 3,333 $ 6,223 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 315 315 Transfers — — — Settlements (325 ) (44 ) (369 ) Ending balance, September 30 $ 2,565 $ 3,604 $ 6,169 Nine Months Ended September 30, 2019 (Dollar amounts in thousands) State and Collateralized Total Beginning balance, January 1 $ 3,135 $ 3,258 $ 6,393 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — 476 476 Transfers — — — Settlements (570 ) (130 ) (700 ) Ending balance, September 30 $ 2,565 $ 3,604 $ 6,169 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Year Ended December 31, 2018 (Dollar amounts in thousands) State and municipal obligations Collateralized debt obligations Total Beginning balance, January 1 $ 3,680 $ 14,605 $ 18,285 Total realized/unrealized gains or losses Included in earnings — — — Included in other comprehensive income — (2,840 ) (2,840 ) Purchases — — — Settlements (545 ) (8,507 ) (9,052 ) Ending balance, December 31 $ 3,135 $ 3,258 $ 6,393 |
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, 2019 . (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 2,565 Discounted cash flow Discount rate 2.87%-4.44% 0% Other real estate $ 3,717 Sales comparison/income approach Discount rate for age of appraisal and market conditions 5.00%-20.00% Impaired Loans $ 120 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, 2018 . (Dollar amounts in thousands) Fair Value Valuation Technique(s) Unobservable Input(s) Range State and municipal obligations $ 3,135 Discounted cash flow Discount rate 2.64%-4.80% 0% Other real estate $ 603 Sales comparison/income approach Discount rate for age of appraisal and market conditions 5.00%-20.00% Impaired Loans 1,639 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, and carried at fair value on a non-recurring basis, as of September 30, 2019 and December 31, 2018 , which are all considered Level 3. September 30, 2019 (Dollar amounts in thousands) Carrying Value Allowance for Loan Losses Allocated Fair Value Commercial Commercial & Industrial $ 153 $ 33 $ 120 Farmland — — — Non Farm, Non Residential — — — Agriculture — — — All Other Commercial — — — Residential First Liens — — — Home Equity — — — Junior Liens — — — Multifamily — — — All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 153 $ 33 $ 120 December 31, 2018 (Dollar amounts in thousands) Carrying Value Allowance for Loan Losses Allocated Fair Value Commercial Commercial & Industrial $ 1,819 $ 593 $ 1,226 Farmland 211 44 167 Non Farm, Non Residential — — — Agriculture 346 100 246 All Other Commercial — — — Residential First Liens — — — Home Equity — — — Junior Liens — — — Multifamily — — — All Other Residential — — — Consumer Motor Vehicle — — — All Other Consumer — — — TOTAL $ 2,376 $ 737 $ 1,639 |
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, 2019 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 80,193 $ 22,625 $ 57,568 $ — $ 80,193 Federal funds sold — — — — — Securities available-for-sale 939,944 — 933,775 6,169 939,944 Restricted stock 13,624 n/a n/a n/a n/a Loans, net 2,648,677 — — 2,674,336 2,674,336 Accrued interest receivable 18,735 — 5,180 13,555 18,735 Deposits (3,220,122 ) — (3,210,216 ) — (3,210,216 ) Short-term borrowings (90,852 ) — (90,852 ) — (90,852 ) Accrued interest payable (1,790 ) — (1,790 ) — (1,790 ) December 31, 2018 Carrying Fair Value (Dollar amounts in thousands) Value Level 1 Level 2 Level 3 Total Cash and due from banks $ 74,388 $ 23,418 $ 50,970 $ — $ 74,388 Securities available-for-sale 784,916 — 778,523 6,393 784,916 Restricted stock 10,390 n/a n/a n/a n/a Loans, net 1,933,552 — — 1,889,795 1,889,795 Accrued interest receivable 13,970 — 3,005 10,965 13,970 Deposits (2,436,727 ) — (2,426,128 ) — (2,426,128 ) Short-term borrowings (69,656 ) — (69,656 ) — (69,656 ) Accrued interest payable (609 ) — (609 ) — (609 ) |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Short-term Debt [Abstract] | |
Schedule of short-term borrowings | Period–end short-term borrowings were comprised of the following: (000 's) September 30, 2019 December 31, 2018 Federal Funds Purchased $ 11,126 $ 43,250 Repurchase Agreements 79,726 26,406 $ 90,852 $ 69,656 |
Components of Net Periodic Be_2
Components of Net Periodic Benefit Cost (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Retirement Benefits [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 2019 2018 2019 2018 2019 2018 2019 2018 Service cost $ 304 $ 347 $ 9 $ 10 $ 913 $ 1,041 $ 26 $ 31 Interest cost 866 798 36 33 2,599 2,395 109 98 Expected return on plan assets (896 ) (991 ) — — (2,689 ) (2,972 ) — — Net amortization of prior service cost — — — — 1 1 — — Net amortization of net (gain) loss 389 362 (4 ) — 1,168 1,085 (12 ) — Net Periodic Benefit Cost $ 663 $ 516 $ 41 $ 43 $ 1,992 $ 1,550 $ 123 $ 129 |
Acquisitions and FDIC Indemni_2
Acquisitions and FDIC Indemnification Asset (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Business Combinations [Abstract] | |
Schedule of carrying amount of covered assets | 2019 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, July 1, $ 1,458 $ — $ 1,458 Loans added 8,610 260 8,870 Discount accretion — — — Disposals (35 ) — (35 ) ASC 310-30 Loans, September 30, $ 10,033 $ 260 $ 10,293 2019 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, January 1, $ 1,530 $ — $ 1,530 Loans added 8,610 260 8,870 Discount accretion — — — Disposals (107 ) — (107 ) ASC 310-30 Loans, September 30, $ 10,033 $ 260 $ 10,293 2018 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, July 1, $ 1,598 $ — $ 1,598 Discount accretion — — — Disposals (16 ) — (16 ) ASC 310-30 Loans, September 30, $ 1,582 $ — $ 1,582 2018 (Dollar amounts in thousands) Commercial Consumer Total Beginning balance, January 1, $ 1,896 $ — $ 1,896 Discount accretion — — — Disposals (314 ) — (314 ) ASC 310-30 Loans, September 30, $ 1,582 $ — $ 1,582 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | The following tables summarize the changes, net of tax, within each classification of accumulated other comprehensive income/(loss) for the three and nine months ended September 30, 2019 and 2018 . Unrealized gains and 2019 (Losses) on available- for-sale Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ 12,460 $ (16,742 ) $ (4,282 ) Change in other comprehensive income (loss) before reclassification 4,128 — 4,128 Amounts reclassified from accumulated other comprehensive income (4 ) 303 299 Net current period other comprehensive income (loss) 4,124 303 4,427 Ending balance, September 30, $ 16,584 $ (16,439 ) $ 145 Unrealized gains and 2019 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ (6,105 ) $ (17,349 ) $ (23,454 ) Change in other comprehensive income (loss) before reclassification 22,702 — 22,702 Amounts reclassified from accumulated other comprehensive income (13 ) 910 897 Net current period other comprehensive income (loss) 22,689 910 23,599 Ending balance, September 30, $ 16,584 $ (16,439 ) $ 145 Unrealized gains and 2018 (Losses) on available- for-sale Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, July 1, $ (9,625 ) $ (19,264 ) $ (28,889 ) Change in other comprehensive income (loss) before reclassification (3,700 ) — (3,700 ) Amounts reclassified from accumulated other comprehensive income (2 ) 281 279 Net current period other comprehensive income (loss) (3,702 ) 281 (3,421 ) Ending balance, September 30, $ (13,327 ) $ (18,983 ) $ (32,310 ) Unrealized gains and 2018 (Losses) on Retirement (Dollar amounts in thousands) Securities plans Total Beginning balance, January 1, $ 2,258 $ (16,962 ) $ (14,704 ) Change in other comprehensive income (loss) before reclassification (16,079 ) — (16,079 ) Amounts reclassified from accumulated other comprehensive income (4 ) 843 839 Net current period other comprehensive income (loss) (16,083 ) 843 (15,240 ) ASU 2018-02 adjustment 498 (2,864 ) (2,366 ) Ending balance, September 30, $ (13,327 ) $ (18,983 ) $ (32,310 ) |
Schedule Of Accumulated Other Comprehensive Income Loss Other Than Temporary Impairment | Balance at Current Period Balance at (Dollar amounts in thousands) 1/1/2019 Change 9/30/2019 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ (8,446 ) $ 22,332 $ 13,886 Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 2,341 357 2,698 Total unrealized gain (loss) on securities available-for-sale $ (6,105 ) $ 22,689 $ 16,584 Unrealized loss on retirement plans (17,349 ) 910 (16,439 ) TOTAL $ (23,454 ) $ 23,599 $ 145 Balance at Current Period Balance at (Dollar amounts in thousands) 7/1/2018 Change 9/30/2018 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ (11,592 ) $ (3,710 ) $ (15,302 ) Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 1,967 8 1,975 Total unrealized gain (loss) on securities available-for-sale $ (9,625 ) $ (3,702 ) $ (13,327 ) Unrealized loss on retirement plans (19,264 ) 281 (18,983 ) TOTAL $ (28,889 ) $ (3,421 ) $ (32,310 ) Balance at Current Period ASU 2018-02 Balance at (Dollar amounts in thousands) 1/1/2018 Change Adjustment 9/30/2018 Unrealized gains (losses) on securities available-for-sale without other than temporary impairment $ (1,371 ) $ (11,067 ) $ (2,864 ) $ (15,302 ) Unrealized gains (losses) on securities available-for-sale with other than temporary impairment 3,629 (1,654 ) 1,975 Total unrealized income (loss) on securities available-for-sale $ 2,258 $ (12,721 ) $ (2,864 ) $ (13,327 ) Unrealized gain (loss) on retirement plans (16,962 ) (2,519 ) 498 (18,983 ) TOTAL $ (14,704 ) $ (15,240 ) $ (2,366 ) $ (32,310 ) |
Accumulated Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent | Three Months Ended September 30, 2019 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 $ 6 Net securities gains (losses) on available-for-sale (2 ) Income tax expense securities $ 4 Net of tax Amortization of $ (389 ) (a) Salary and benefits retirement plan items 86 Income tax expense $ (303 ) Net of tax Total reclassifications for the period $ (299 ) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). Nine Months Ended September 30, 2019 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 $ 18 Net securities gains (losses) on available-for-sale (5 ) Income tax expense securities $ 13 Net of tax Amortization of $ (1,168 ) (a) Salary and benefits retirement plan items 258 Income tax expense $ (910 ) Net of tax Total reclassifications for the period $ (897 ) Net of tax Three Months Ended September 30, 2018 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 $ 3 Net securities gains (losses) on available-for-sale (1 ) Income tax expense securities $ 2 Net of tax Amortization of $ (362 ) (a) Salary and benefits retirement plan items 81 Income tax expense $ (281 ) Net of tax Total reclassifications for the period $ (279 ) Net of tax (a) Included in the computation of net periodic benefit cost. (see Footnote 6 for additional details). |
Significant Accounting Polici_2
Significant Accounting Policies (Details Textual) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019USD ($)segmentshares | Sep. 30, 2018USD ($)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 | 19,783 | 17,220 |
Grant date value | $ | $ 841 | $ 784 |
Allowance for Loan Losses (Deta
Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |||||
Allowance for Loan Losses: | ||||||||
Beginning balance | $ 20,250 | $ 20,071 | $ 20,436 | $ 19,909 | ||||
Provision for loan losses | 1,500 | [1] | 1,470 | [2] | 3,200 | [1] | 4,298 | [2] |
Loans charged off | (3,202) | (2,348) | (7,217) | (6,692) | ||||
Recoveries | 1,251 | 1,108 | 3,380 | 2,786 | ||||
Ending Balance | 19,799 | 20,301 | 19,799 | 20,301 | ||||
Commercial Portfolio Segment [Member] | ||||||||
Allowance for Loan Losses: | ||||||||
Beginning balance | 9,481 | 9,498 | 9,848 | 10,281 | ||||
Provision for loan losses | 163 | [1] | (106) | [2] | 5 | [1] | (443) | [2] |
Loans charged off | (864) | (409) | (1,523) | (1,053) | ||||
Recoveries | 226 | 354 | 676 | 552 | ||||
Ending Balance | 9,006 | 9,337 | 9,006 | 9,337 | ||||
Residential Portfolio Segment [Member] | ||||||||
Allowance for Loan Losses: | ||||||||
Beginning balance | 1,323 | 1,382 | 1,313 | 1,455 | ||||
Provision for loan losses | (10) | [1] | (44) | [2] | 145 | [1] | 56 | [2] |
Loans charged off | (256) | (158) | (675) | (632) | ||||
Recoveries | 266 | 160 | 540 | 461 | ||||
Ending Balance | 1,323 | 1,340 | 1,323 | 1,340 | ||||
Consumer Portfolio Segment [Member] | ||||||||
Allowance for Loan Losses: | ||||||||
Beginning balance | 7,744 | 7,131 | 7,481 | 6,709 | ||||
Provision for loan losses | 1,691 | [1] | 1,593 | [2] | 3,486 | [1] | 4,062 | [2] |
Loans charged off | (2,082) | (1,781) | (5,019) | (5,007) | ||||
Recoveries | 759 | 594 | 2,164 | 1,773 | ||||
Ending Balance | 8,112 | 7,537 | 8,112 | 7,537 | ||||
Unallocated | ||||||||
Allowance for Loan Losses: | ||||||||
Beginning balance | 1,702 | 2,060 | 1,794 | 1,464 | ||||
Provision for loan losses | (344) | [1] | 27 | [2] | (436) | [1] | 623 | [2] |
Loans charged off | 0 | 0 | 0 | 0 | ||||
Recoveries | 0 | 0 | 0 | 0 | ||||
Ending Balance | $ 1,358 | $ 2,087 | $ 1,358 | $ 2,087 | ||||
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[2] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmNhMzlhOGUzNzM1YjQ5MmRiMDM0YzA4NGIxOTEyMDhhfFRleHRTZWxlY3Rpb246NUY3NURCNTFCRjUxMDIyRkNFOTY2OTEzNkIwRjVFM0EM} |
Allowance for Loan Losses (De_2
Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | $ 33 | $ 737 | ||||
Collectively evaluated for impairment | 19,766 | 19,699 | ||||
Ending Balance | 19,799 | $ 20,250 | 20,436 | $ 20,301 | $ 20,071 | $ 19,909 |
Loans | ||||||
Individually evaluated for impairment | 7,079 | 10,516 | ||||
Collectively evaluated for impairment | 2,658,752 | 1,949,197 | ||||
Total | 2,676,091 | 1,961,208 | ||||
Commercial Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | 33 | 737 | ||||
Collectively evaluated for impairment | 8,973 | 9,111 | ||||
Ending Balance | 9,006 | 9,481 | 9,848 | 9,337 | 9,498 | 10,281 |
Loans | ||||||
Individually evaluated for impairment | 3,415 | 6,101 | ||||
Collectively evaluated for impairment | 1,577,863 | 1,166,227 | ||||
Total | 1,591,278 | 1,173,823 | ||||
Residential Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 1,323 | 1,313 | ||||
Ending Balance | 1,323 | 1,323 | 1,313 | 1,340 | 1,382 | 1,455 |
Loans | ||||||
Individually evaluated for impairment | 3,664 | 4,415 | ||||
Collectively evaluated for impairment | 705,586 | 440,497 | ||||
Total | 709,510 | 444,912 | ||||
Consumer Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 8,112 | 7,481 | ||||
Ending Balance | 8,112 | 7,744 | 7,481 | 7,537 | 7,131 | 6,709 |
Loans | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 375,303 | 342,473 | ||||
Total | 375,303 | 342,473 | ||||
Unallocated | ||||||
Ending Balance Attributable to Loans | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 1,358 | 1,794 | ||||
Ending Balance | 1,358 | $ 1,702 | 1,794 | $ 2,087 | $ 2,060 | $ 1,464 |
Financial Asset Acquired with Credit Deterioration [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||||
Loans | ||||||
Financing Receivable, after Allowance for Credit Loss | 10,260 | 1,495 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Commercial Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||||
Loans | ||||||
Financing Receivable, after Allowance for Credit Loss | 10,000 | 1,495 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Residential Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||||
Loans | ||||||
Financing Receivable, after Allowance for Credit Loss | 260 | 0 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Consumer Portfolio Segment [Member] | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Loss | 0 | 0 | ||||
Loans | ||||||
Financing Receivable, after Allowance for Credit Loss | 0 | 0 | ||||
Financial Asset Acquired with Credit Deterioration [Member] | Unallocated | ||||||
Ending Balance Attributable to Loans | ||||||
Financing Receivable, Allowance for Credit Loss | $ 0 | $ 0 |
Allowance for Loan Losses (De_3
Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Unpaid Principal Balance | |||||
TOTAL | $ 7,609 | $ 7,609 | $ 10,516 | ||
Recorded Investment | |||||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 120 | 120 | 1,639 | ||
Fair value | 7,079 | 7,079 | 10,516 | ||
Allowance For Loan Losses Allocated | |||||
TOTAL | 33 | 33 | 737 | ||
Average Recorded Investment | |||||
TOTAL | 7,693 | $ 10,707 | 9,089 | $ 11,269 | 11,118 |
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: | 1,752 | 1,752 | 589 | ||
With an allowance recorded: | 153 | 153 | 1,819 | ||
Recorded Investment | |||||
With no related allowance recorded: | 1,222 | 1,222 | 589 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 153 | 153 | 1,819 | ||
Fair value | 120 | 120 | 1,226 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 33 | 33 | 593 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 904 | 662 | 813 | 725 | 698 |
With an allowance recorded: | 922 | 323 | 1,349 | 405 | 688 |
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: | 2,011 | 2,011 | 2,022 | ||
With an allowance recorded: | 0 | 0 | 211 | ||
Recorded Investment | |||||
With no related allowance recorded: | 2,011 | 2,011 | 2,022 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 211 | ||
Fair value | 0 | 0 | 167 | ||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 44 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 2,011 | 2,007 | 1,999 | 1,468 | 1,579 |
With an allowance recorded: | 0 | 1,081 | 105 | 2,061 | 1,691 |
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: | 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 | 1,165 | 0 | 1,803 | 1,443 |
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 | |
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 | 346 | ||
Recorded Investment | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 0 | 346 | ||
Fair value | 0 | 0 | |||
Allowance For Loan Losses Allocated | |||||
With no related allowance recorded: | 0 | 0 | 0 | ||
With an allowance recorded: | 0 | 0 | 100 | ||
Average Recorded Investment | |||||
With no related allowance recorded: | 0 | 6 | 0 | 61 | 49 |
With an allowance recorded: | 0 | 80 | 173 | 309 | 316 |
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: | 29 | 29 | 1,114 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 29 | 29 | 1,114 | ||
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: | 29 | 1,156 | 570 | 1,187 | 1,172 |
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 |
First Liens | |||||
Unpaid Principal Balance | |||||
With no related allowance recorded: | 3,664 | 3,664 | 4,415 | ||
With an allowance recorded: | 0 | 0 | 0 | ||
Recorded Investment | |||||
With no related allowance recorded: | 3,664 | 3,664 | 4,415 | ||
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: | 3,827 | 4,188 | 4,080 | 3,110 | 3,371 |
With an allowance recorded: | 0 | 0 | 0 | 111 | 88 |
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 | 39 | 0 | 29 | 23 |
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 (De_4
Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | $ 7,079 | $ 10,516 | ||||
Financing Receivable, Troubled Debt Restructuring | 4,127 | $ 4,541 | 4,806 | $ 4,847 | $ 6,819 | $ 7,034 |
Commercial & Industrial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 120 | 1,226 | ||||
Farmland | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 167 | ||||
Non Farm, Non Residential | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
Agriculture | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | |||||
All Other Commercial | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
First Liens | ||||||
Aging of recorded investment in loans by past due category and class of loans | ||||||
Fair value | 0 | 0 | ||||
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 | 790 | 852 | ||||
Nonaccrual | 9,852 | 10,974 | ||||
Financing Receivable, Troubled Debt Restructuring | 3,335 | 3,652 | ||||
Financing Receivable, Modifications, Nonaccrual | 813 | 1,024 | ||||
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 | 2,401 | 2,902 | ||||
Financing Receivable, Troubled Debt Restructuring | 0 | 1 | ||||
Financing Receivable, Modifications, Nonaccrual | 17 | 144 | ||||
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 | 2,439 | 2,391 | ||||
Financing Receivable, Troubled Debt Restructuring | 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 | 455 | 81 | ||||
Financing Receivable, Troubled Debt Restructuring | 0 | 0 | ||||
Financing Receivable, Modifications, Nonaccrual | 0 | 0 | ||||
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 | 0 | 0 | ||||
Nonaccrual | 490 | 355 | ||||
Financing Receivable, Troubled Debt Restructuring | 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 | 81 | 1,122 | ||||
Financing Receivable, Troubled Debt Restructuring | 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 | 586 | 581 | ||||
Nonaccrual | 3,101 | 3,393 | ||||
Financing Receivable, Troubled Debt Restructuring | 3,016 | 3,327 | ||||
Financing Receivable, Modifications, Nonaccrual | 445 | 531 | ||||
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 | 7 | 41 | ||||
Nonaccrual | 121 | 75 | ||||
Financing Receivable, Troubled Debt Restructuring | 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 | 12 | 53 | ||||
Nonaccrual | 179 | 86 | ||||
Financing Receivable, Troubled Debt Restructuring | 48 | 55 | ||||
Financing Receivable, Modifications, Nonaccrual | 9 | 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, Troubled Debt Restructuring | 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 | 0 | ||||
Nonaccrual | 55 | 64 | ||||
Financing Receivable, Troubled Debt Restructuring | 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 | 180 | 177 | ||||
Nonaccrual | 183 | 125 | ||||
Financing Receivable, Troubled Debt Restructuring | 0 | 1 | ||||
Financing Receivable, Modifications, Nonaccrual | 15 | 0 | ||||
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 | 5 | 0 | ||||
Nonaccrual | 347 | 380 | ||||
Financing Receivable, Troubled Debt Restructuring | 271 | 268 | ||||
Financing Receivable, Modifications, Nonaccrual | $ 327 | $ 349 |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Beginning Balance | $ 4,541 | $ 6,819 | $ 4,806 | $ 7,034 |
Added | 73 | 632 | 358 | 988 |
Charged Off | (35) | (7) | (97) | (99) |
Payments | (452) | (2,597) | (940) | (3,076) |
Ending Balance | 4,127 | 4,847 | 4,127 | 4,847 |
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Beginning Balance | 127 | 2,577 | 145 | 2,709 |
Added | 0 | 0 | 0 | 0 |
Charged Off | 0 | 0 | 0 | 0 |
Payments | (110) | (2,374) | (128) | (2,506) |
Ending Balance | 17 | 203 | 17 | 203 |
Residential Portfolio Segment [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Beginning Balance | 3,797 | 3,607 | 4,043 | 3,611 |
Added | 0 | 538 | 122 | 751 |
Charged Off | 0 | 0 | (16) | (16) |
Payments | (300) | (165) | (652) | (366) |
Ending Balance | 3,497 | 3,980 | 3,497 | 3,980 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Beginning Balance | 617 | 635 | 618 | 714 |
Added | 73 | 94 | 236 | 237 |
Charged Off | (35) | (7) | (81) | (83) |
Payments | (42) | (58) | (160) | (204) |
Ending Balance | $ 613 | $ 664 | $ 613 | $ 664 |
Allowance for Loan Losses (De_5
Allowance for Loan Losses (Details 5) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | $ 15,737 | $ 16,682 |
Financing Receivable, Not Past Due | 2,660,354 | 1,944,526 |
Total | 2,676,091 | 1,961,208 |
Commercial & Industrial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 1,936 | 1,782 |
Financing Receivable, Not Past Due | 601,368 | 518,239 |
Total | 603,304 | 520,021 |
Farmland | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 2,105 | 2,659 |
Financing Receivable, Not Past Due | 136,959 | 104,981 |
Total | 139,064 | 107,640 |
Non Farm, Non Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 60 | 57 |
Financing Receivable, Not Past Due | 409,728 | 188,706 |
Total | 409,788 | 188,763 |
Agriculture | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 493 | 388 |
Financing Receivable, Not Past Due | 159,886 | 148,345 |
Total | 160,379 | 148,733 |
All Other Commercial | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 151 | 33 |
Financing Receivable, Not Past Due | 278,592 | 208,633 |
Total | 278,743 | 208,666 |
First Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 4,193 | 5,267 |
Financing Receivable, Not Past Due | 410,637 | 231,684 |
Total | 414,830 | 236,951 |
Home Equity | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 362 | 273 |
Financing Receivable, Not Past Due | 69,537 | 39,378 |
Total | 69,899 | 39,651 |
Junior Liens | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 582 | 420 |
Financing Receivable, Not Past Due | 53,078 | 49,111 |
Total | 53,660 | 49,531 |
Multifamily | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 0 |
Financing Receivable, Not Past Due | 163,803 | 109,609 |
Total | 163,803 | 109,609 |
All Other Residential | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 0 | 24 |
Financing Receivable, Not Past Due | 7,318 | 9,146 |
Total | 7,318 | 9,170 |
Motor Vehicle | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 5,681 | 5,552 |
Financing Receivable, Not Past Due | 337,055 | 309,238 |
Total | 342,736 | 314,790 |
All Other Consumer | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 174 | 227 |
Financing Receivable, Not Past Due | 32,393 | 27,456 |
Total | 32,567 | 27,683 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 8,444 | 10,229 |
Financial Asset, 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 | 988 | 1,017 |
Financial Asset, 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 | 0 | 515 |
Financial Asset, 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 | 60 | 0 |
Financial Asset, 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 | 493 | 41 |
Financial Asset, 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 | 75 | 30 |
Financial Asset, 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 | 1,386 | 3,365 |
Financial Asset, 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 | 326 | 155 |
Financial Asset, 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 | 355 | 132 |
Financial Asset, 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 |
Financial Asset, 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 | 0 |
Financial Asset, 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 | 4,629 | 4,766 |
Financial Asset, 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 | 132 | 208 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 2,570 | 1,718 |
Financial Asset, 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 | 116 | 420 |
Financial Asset, 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 | 5 | 8 |
Financial Asset, 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 | 0 |
Financial Asset, 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 | 0 | 0 |
Financial Asset, 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 | 47 | 3 |
Financial Asset, 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 | 1,443 | 429 |
Financial Asset, 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 | 25 | 8 |
Financial Asset, 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 | 101 | 225 |
Financial Asset, 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 |
Financial Asset, 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 | 9 |
Financial Asset, 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 | 801 | 609 |
Financial Asset, 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 | 32 | 7 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Aging of recorded investment in loans by past due category and class of loans | ||
Total Past Due | 4,723 | 4,735 |
Financial Asset, Equal to or 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 | 832 | 345 |
Financial Asset, Equal to or 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 | 2,100 | 2,136 |
Financial Asset, Equal to or 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 | 0 | 57 |
Financial Asset, Equal to or 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 | 0 | 347 |
Financial Asset, Equal to or 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 | 29 | 0 |
Financial Asset, Equal to or 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 | 1,364 | 1,473 |
Financial Asset, Equal to or 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 | 11 | 110 |
Financial Asset, Equal to or 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 | 126 | 63 |
Financial Asset, Equal to or 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 |
Financial Asset, Equal to or 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 | 15 |
Financial Asset, Equal to or 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 | 177 |
Financial Asset, Equal to or 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 | $ 10 | $ 12 |
Allowance for Loan Losses (De_6
Allowance for Loan Losses (Details 6) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | $ 2,676,091 | $ 1,961,208 |
Financing Receivable, Past Due | 15,737 | 16,682 |
Financing Receivable, Not Past Due | 2,660,354 | 1,944,526 |
Total loans | 2,664,805 | 1,951,063 |
Loans not rated | 2,664,805 | |
Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 603,304 | 520,021 |
Financing Receivable, Past Due | 1,936 | 1,782 |
Financing Receivable, Not Past Due | 601,368 | 518,239 |
Total loans | 601,612 | 518,410 |
Farmland | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 139,064 | 107,640 |
Financing Receivable, Past Due | 2,105 | 2,659 |
Financing Receivable, Not Past Due | 136,959 | 104,981 |
Total loans | 136,933 | 105,756 |
Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 409,788 | 188,763 |
Financing Receivable, Past Due | 60 | 57 |
Financing Receivable, Not Past Due | 409,728 | 188,706 |
Total loans | 409,375 | 188,333 |
Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 160,379 | 148,733 |
Financing Receivable, Past Due | 493 | 388 |
Financing Receivable, Not Past Due | 159,886 | 148,345 |
Total loans | 157,711 | 146,056 |
All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 278,743 | 208,666 |
Financing Receivable, Past Due | 151 | 33 |
Financing Receivable, Not Past Due | 278,592 | 208,633 |
Total loans | 277,371 | 207,797 |
First Liens | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 414,830 | 236,951 |
Financing Receivable, Past Due | 4,193 | 5,267 |
Financing Receivable, Not Past Due | 410,637 | 231,684 |
Total loans | 413,959 | 236,147 |
Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 69,899 | 39,651 |
Financing Receivable, Past Due | 362 | 273 |
Financing Receivable, Not Past Due | 69,537 | 39,378 |
Total loans | 69,835 | 39,582 |
Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 53,660 | 49,531 |
Financing Receivable, Past Due | 582 | 420 |
Financing Receivable, Not Past Due | 53,078 | 49,111 |
Total loans | 53,541 | 49,417 |
Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 163,803 | 109,609 |
Financing Receivable, Past Due | 0 | 0 |
Financing Receivable, Not Past Due | 163,803 | 109,609 |
Total loans | 163,437 | 109,378 |
All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 7,318 | 9,170 |
Financing Receivable, Past Due | 0 | 24 |
Financing Receivable, Not Past Due | 7,318 | 9,146 |
Total loans | 7,284 | 9,146 |
Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 342,736 | 314,790 |
Financing Receivable, Past Due | 5,681 | 5,552 |
Financing Receivable, Not Past Due | 337,055 | 309,238 |
Total loans | 341,324 | 313,490 |
All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Financing Receivable Recorded Investment | 32,567 | 27,683 |
Financing Receivable, Past Due | 174 | 227 |
Financing Receivable, Not Past Due | 32,393 | 27,456 |
Total loans | 32,423 | 27,551 |
Pass | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,840,878 | 1,206,608 |
Pass | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 550,274 | 472,008 |
Pass | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 121,097 | 90,367 |
Pass | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 390,707 | 170,757 |
Pass | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 125,250 | 118,952 |
Pass | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 269,763 | 198,302 |
Pass | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 193,626 | 43,915 |
Pass | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 18,375 | 963 |
Pass | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 2,895 | 1,983 |
Pass | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 161,976 | 109,361 |
Pass | All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Pass | Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 3,224 | 0 |
Pass | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 3,691 | 0 |
Special Mention | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 42,157 | 44,799 |
Special Mention | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 18,205 | 20,600 |
Special Mention | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 7,472 | 7,587 |
Special Mention | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 5,469 | 5,442 |
Special Mention | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 4,239 | 10,010 |
Special Mention | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 4,123 | 43 |
Special Mention | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,142 | 1,043 |
Special Mention | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Special Mention | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 67 | 74 |
Special Mention | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 1,440 | 0 |
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 | 0 | 0 |
Special Mention | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Substandard | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 81,334 | 64,562 |
Substandard | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 26,901 | 18,374 |
Substandard | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 8,354 | 7,783 |
Substandard | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 12,577 | 10,439 |
Substandard | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 27,654 | 16,637 |
Substandard | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 155 | 6,777 |
Substandard | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 4,540 | 3,504 |
Substandard | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 452 | 148 |
Substandard | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 185 | 224 |
Substandard | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Substandard | All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 13 | 15 |
Substandard | Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 470 | 627 |
Substandard | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 33 | 34 |
Doubtful | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 80 | 76 |
Doubtful | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 4 | 0 |
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 | 0 | 0 |
Doubtful | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Doubtful | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Doubtful | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Doubtful | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 0 | 0 |
Doubtful | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 76 | 76 |
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 | 0 | 0 |
Not Rated | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 700,356 | 635,018 |
Not Rated | Commercial & Industrial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 6,228 | 7,428 |
Not Rated | Farmland | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 10 | 19 |
Not Rated | Non Farm, Non Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 622 | 1,695 |
Not Rated | Agriculture | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 568 | 457 |
Not Rated | All Other Commercial | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 3,330 | 2,675 |
Not Rated | First Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 214,651 | 187,685 |
Not Rated | Home Equity | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 51,008 | 38,471 |
Not Rated | Junior Liens | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 50,318 | 47,060 |
Not Rated | Multifamily | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 21 | 17 |
Not Rated | All Other Residential | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 7,271 | 9,131 |
Not Rated | Motor Vehicle | ||
Analysis of risk category of loans by class of loans | ||
Total loans | 337,630 | 312,863 |
Not Rated | All Other Consumer | ||
Analysis of risk category of loans by class of loans | ||
Total loans | $ 28,699 | $ 27,517 |
Allowance for Loan Losses (De_7
Allowance for Loan Losses (Details Textual) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Allowance for loan losses | ||
Fair value | $ 7,079,000 | $ 10,516,000 |
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 | 120,000 | 1,226,000 |
Farmland | ||
Allowance for loan losses | ||
Fair value | 0 | 167,000 |
Covered Loans | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 19,000 | |
Nonaccrual | 91,000 | |
Non Farm, Non Residential | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
Agriculture | ||
Allowance for loan losses | ||
Fair value | 0 | |
All Other Commercial | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
First Liens | ||
Allowance for loan losses | ||
Fair value | 0 | 0 |
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 | 790,000 | 852,000 |
Nonaccrual | 9,852,000 | 10,974,000 |
Nonperforming Financing Receivable [Member] | Commercial & Industrial | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 2,401,000 | 2,902,000 |
Nonperforming Financing Receivable [Member] | Farmland | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 2,439,000 | 2,391,000 |
Nonperforming Financing Receivable [Member] | Non Farm, Non Residential | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 455,000 | 81,000 |
Nonperforming Financing Receivable [Member] | Agriculture | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 490,000 | 355,000 |
Nonperforming Financing Receivable [Member] | All Other Commercial | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 0 | 0 |
Nonaccrual | 81,000 | 1,122,000 |
Nonperforming Financing Receivable [Member] | First Liens | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 586,000 | 581,000 |
Nonaccrual | 3,101,000 | 3,393,000 |
Nonperforming Financing Receivable [Member] | Home Equity | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 7,000 | 41,000 |
Nonaccrual | 121,000 | 75,000 |
Nonperforming Financing Receivable [Member] | Junior Liens | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 12,000 | 53,000 |
Nonaccrual | 179,000 | 86,000 |
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 | 0 |
Nonaccrual | 55,000 | 64,000 |
Nonperforming Financing Receivable [Member] | Motor Vehicle | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 180,000 | 177,000 |
Nonaccrual | 183,000 | 125,000 |
Nonperforming Financing Receivable [Member] | All Other Consumer | ||
Allowance for loan losses | ||
Loans Past Due Over 90 Day Still Accruing | 5,000 | 0 |
Nonaccrual | $ 347,000 | $ 380,000 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | $ 918,591 | $ 793,084 |
Unrealized Gains | (22,684) | (7,046) |
Unrealized Losses | (1,331) | (15,214) |
Securities available-for-sale | 939,944 | 784,916 |
US Government Agencies Debt Securities [Member] | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 105,115 | 25,617 |
Unrealized Gains | (2,205) | (218) |
Unrealized Losses | (44) | (471) |
Securities available-for-sale | 107,276 | 25,364 |
Mortgage Backed Securities - Residential | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 214,486 | 182,050 |
Unrealized Gains | (2,558) | (723) |
Unrealized Losses | (308) | (4,030) |
Securities available-for-sale | 216,736 | 178,743 |
Mortgage Backed Securities - Commercial | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 24,193 | |
Unrealized Gains | (231) | |
Unrealized Losses | 0 | |
Securities available-for-sale | 24,424 | 0 |
Collateralized Mortgage Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 306,699 | 352,823 |
Unrealized Gains | (2,243) | (217) |
Unrealized Losses | (904) | (9,424) |
Securities available-for-sale | 308,038 | 343,616 |
State and Municipal Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 257,889 | 232,457 |
Unrealized Gains | (11,842) | (2,767) |
Unrealized Losses | (75) | (1,289) |
Securities available-for-sale | 269,656 | 233,935 |
Collateralized Debt Obligations | ||
Amortized cost and fair value of investments classified as available for sale | ||
Amortized Cost | 7 | 137 |
Unrealized Gains | (3,597) | (3,121) |
Unrealized Losses | 0 | 0 |
Securities available-for-sale | $ 3,604 | $ 3,258 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Amortized Cost | ||
Due in one year or less | $ 17,600 | |
Due after one but within five years | 64,741 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 73,343 | |
Due after ten years | 217,529 | |
Total of securities having specified maturity period | 373,213 | |
TOTAL | 918,591 | $ 793,084 |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Amortized Cost | 545,378 | |
Fair Value | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Fair Value | 17,633 | |
Due after one but within five years | 65,565 | |
Due after five but within ten years | 75,416 | |
Due after ten years | 232,132 | |
Total of securities having specified maturities period | 390,746 | |
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value | 549,198 | |
Securities available-for-sale | $ 939,944 | $ 784,916 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, within One Year, Amortized Cost | $ 17,600 | |
Less Than 12 Months | ||
Fair Value | 117,485 | $ 130,116 |
Unrealized Losses | (396) | (1,288) |
More Than 12 Months | ||
Fair Value | 89,021 | 405,894 |
Unrealized Losses | (935) | (13,926) |
Total | ||
Fair Value | 206,506 | 536,010 |
Unrealized Losses | (1,331) | (15,214) |
US Government Agencies Debt Securities [Member] | ||
Less Than 12 Months | ||
Fair Value | 9,362 | 3,052 |
Unrealized Losses | (44) | (4) |
More Than 12 Months | ||
Fair Value | 0 | 11,356 |
Unrealized Losses | 0 | (467) |
Total | ||
Fair Value | 9,362 | 14,408 |
Unrealized Losses | (44) | (471) |
Mortgage Backed Securities - Residential | ||
Less Than 12 Months | ||
Fair Value | 34,500 | 39,997 |
Unrealized Losses | (129) | (553) |
More Than 12 Months | ||
Fair Value | 22,585 | 111,423 |
Unrealized Losses | (179) | (3,477) |
Total | ||
Fair Value | 57,085 | 151,420 |
Unrealized Losses | (308) | (4,030) |
Collateralized Mortgage Obligations | ||
Less Than 12 Months | ||
Fair Value | 60,615 | 52,838 |
Unrealized Losses | (186) | (455) |
More Than 12 Months | ||
Fair Value | 65,977 | 241,373 |
Unrealized Losses | (718) | (8,969) |
Total | ||
Fair Value | 126,592 | 294,211 |
Unrealized Losses | (904) | (9,424) |
State and Municipal Obligations | ||
Less Than 12 Months | ||
Fair Value | 11,015 | 34,229 |
Unrealized Losses | (37) | (276) |
More Than 12 Months | ||
Fair Value | 459 | 41,742 |
Unrealized Losses | (38) | (1,013) |
Total | ||
Fair Value | 11,474 | 75,971 |
Unrealized Losses | $ (75) | $ (1,289) |
Securities (Details 3)
Securities (Details 3) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Rollforward of the credit losses recognized in earnings | ||||
Beginning balance | $ 2,974 | $ 2,974 | $ 2,974 | $ 7,132 |
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 | 0 | 0 | 0 |
Amounts realized for securities sold during the period | 0 | 0 | 0 | (4,158) |
Ending balance | $ 2,974 | $ 2,974 | $ 2,974 | $ 2,974 |
Securities (Details Textual)
Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Debt Securities, Available-for-sale [Line Items] | ||||||||
Debt Securities, Available-for-sale, Realized Gain | $ 6 | |||||||
Gain on sale of investments | (6) | $ (3) | $ (18) | $ (5) | ||||
Gross unrealized losses | 1,331 | 1,331 | $ 15,214 | |||||
Cumulative OTTI charges | 2,974 | $ 2,974 | 2,974 | $ 2,974 | $ 2,974 | 2,974 | $ 2,974 | $ 7,132 |
Amortized Cost | 918,591 | 918,591 | 793,084 | |||||
Securities available-for-sale | $ 939,944 | $ 939,944 | $ 784,916 | |||||
Minimum [Member] | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Basis point spread on variable rate | 1.60% | 1.60% | ||||||
Maximum [Member] | ||||||||
Debt Securities, Available-for-sale [Line Items] | ||||||||
Basis point spread on variable rate | 1.80% | 1.80% |
Fair Value (Details)
Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Fair value measurement | ||
Securities available-for-sale | $ 939,944 | $ 784,916 |
US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 107,276 | 25,364 |
Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities available-for-sale | 216,736 | 178,743 |
Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities available-for-sale | 24,424 | 0 |
Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 308,038 | 343,616 |
State and Municipal Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 269,656 | 233,935 |
Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 3,604 | 3,258 |
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 | 933,775 | 778,523 |
Derivative Assets | 1,099 | 218 |
Derivative Liability | (1,099) | (218) |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Fair value measurement | ||
Securities available-for-sale | 107,276 | 25,364 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Residential | ||
Fair value measurement | ||
Securities available-for-sale | 216,736 | 178,743 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Commercial | ||
Fair value measurement | ||
Securities available-for-sale | 24,424 | 0 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 308,038 | 343,616 |
Fair Value, Inputs, Level 2 [Member] | State and Municipal Obligations | ||
Fair value measurement | ||
Securities available-for-sale | 267,091 | 230,800 |
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 | 6,169 | 6,393 |
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 | 2,565 | 3,135 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Debt Obligations | ||
Fair value measurement | ||
Securities available-for-sale | $ 3,604 | $ 3,258 |
Fair Value (Details 1)
Fair Value (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | $ 939,944 | $ 939,944 | $ 784,916 |
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 | 6,223 | 6,393 | 18,285 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 315 | 476 | (2,840) |
Transfers | 0 | 0 | |
Purchases | 0 | ||
Settlements | (369) | (700) | (9,052) |
Ending balance | 6,169 | 6,169 | 6,393 |
US Government Agencies Debt Securities [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 107,276 | 107,276 | 25,364 |
State and Municipal Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 269,656 | 269,656 | 233,935 |
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 | 2,890 | 3,135 | 3,680 |
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 | 0 | ||
Settlements | (325) | (570) | (545) |
Ending balance | 2,565 | 2,565 | 3,135 |
Collateralized Debt Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 3,604 | 3,604 | 3,258 |
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 | 3,333 | 3,258 | 14,605 |
Total realized/unrealized gains or losses - Included in earnings | 0 | 0 | 0 |
Total realized/unrealized gains or losses - Included in other comprehensive income | 315 | 476 | (2,840) |
Transfers | 0 | 0 | |
Purchases | 0 | ||
Settlements | (44) | (130) | (8,507) |
Ending balance | 3,604 | 3,604 | 3,258 |
Mortgage Backed Securities - Residential | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 216,736 | 216,736 | 178,743 |
Mortgage Backed Securities - Commercial | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 24,424 | 24,424 | 0 |
Collateralized Mortgage Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 308,038 | 308,038 | 343,616 |
Fair Value, Inputs, Level 3 [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 6,169 | 6,169 | 6,393 |
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 | 2,565 | 2,565 | 3,135 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Debt Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 3,604 | 3,604 | 3,258 |
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 | 933,775 | 933,775 | 778,523 |
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 | 1,099 | 1,099 | 218 |
Derivative Liability | 1,099 | 1,099 | 218 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 107,276 | 107,276 | 25,364 |
Fair Value, Inputs, Level 2 [Member] | State and Municipal Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 267,091 | 267,091 | 230,800 |
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 | 216,736 | 216,736 | 178,743 |
Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities - Commercial | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | 24,424 | 24,424 | 0 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations | |||
Fair value measurement using significant unobservable input | |||
Securities available-for-sale | $ 308,038 | $ 308,038 | $ 343,616 |
Fair Value (Details 2)
Fair Value (Details 2) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019 | Dec. 31, 2018 | |
Impaired Loans | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Fair Value | $ 120 | $ 1,639 |
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 Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Fair Value | $ 3,717 | $ 603 |
Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions |
State and Municipal Obligations | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Fair Value | $ 2,565 | $ 3,135 |
Unobservable Inputs | Discount rate Probability of default | Discount rate Probability of default |
Fair Value (Details 3)
Fair Value (Details 3) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans identified as impaired by class of loans | ||
Carrying Value | $ 153 | $ 2,376 |
Allowance for Loan Losses Allocated | 33 | 737 |
Fair value | 7,079 | 10,516 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 120 | 1,639 |
Commercial & Industrial | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 153 | 1,819 |
Allowance for Loan Losses Allocated | 33 | 593 |
Fair value | 120 | 1,226 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 153 | 1,819 |
Farmland | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 211 |
Allowance for Loan Losses Allocated | 0 | 44 |
Fair value | 0 | 167 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 211 |
Non Farm, Non 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 |
Agriculture | ||
Loans identified as impaired by class of loans | ||
Carrying Value | 0 | 346 |
Allowance for Loan Losses Allocated | 0 | 100 |
Fair value | 0 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | 346 |
All Other Commercial | ||
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 |
First 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 |
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, 2019 | Dec. 31, 2018 |
Carrying amount and estimated fair value of financial instruments | ||
Fair value | $ 7,079 | $ 10,516 |
Securities available-for-sale | 939,944 | 784,916 |
Restricted Investments | 13,624 | 10,390 |
Accrued interest receivable | 18,735 | 13,970 |
Deposits | (3,220,122) | (2,436,727) |
Fair Value, Inputs, Level 1 [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 22,625 | 23,418 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | |
Securities available-for-sale | 0 | 0 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 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 | 57,568 | 50,970 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | |
Securities available-for-sale | 933,775 | 778,523 |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Accrued interest receivable | 5,180 | 3,005 |
Deposits | (3,210,216) | (2,426,128) |
Short-term borrowings | (90,852) | (69,656) |
Accrued interest payable | (1,790) | (609) |
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 | |
Securities available-for-sale | 6,169 | 6,393 |
Loans Receivable, Fair Value Disclosure | 2,674,336 | 1,889,795 |
Accrued interest receivable | 13,555 | 10,965 |
Deposits | 0 | 0 |
Short-term borrowings | 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 | 80,193 | 74,388 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | |
Securities available-for-sale | 939,944 | 784,916 |
Restricted Investments | 13,624 | 10,390 |
Loans Receivable, Fair Value Disclosure | 2,648,677 | 1,933,552 |
Accrued interest receivable | 18,735 | 13,970 |
Deposits | (3,220,122) | (2,436,727) |
Short-term borrowings | (90,852) | (69,656) |
Accrued interest payable | (1,790) | (609) |
Estimate of Fair Value Measurement [Member] | ||
Carrying amount and estimated fair value of financial instruments | ||
Cash and Cash Equivalents, Fair Value Disclosure | 80,193 | 74,388 |
Federal Funds Sold and Securities Borrowed or Purchased under Agreements to Resell, Fair Value Disclosure | 0 | |
Securities available-for-sale | 939,944 | 784,916 |
Loans Receivable, Fair Value Disclosure | 2,674,336 | 1,889,795 |
Accrued interest receivable | 18,735 | 13,970 |
Deposits | (3,210,216) | (2,426,128) |
Short-term borrowings | (90,852) | (69,656) |
Accrued interest payable | $ (1,790) | $ (609) |
Fair Value (Details Textual)
Fair Value (Details Textual) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Valuation allowance for impaired loans | $ 33 | $ 737 |
Provision for impaired loan losses | (112) | |
Other real estate owned | 3,717 | 603 |
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | 120 | 1,639 |
Valuation allowance for impaired loans | $ 33 | $ 737 |
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 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Real estate, other deductions | $ 97 | $ 598 |
Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | 3,717 | 603 |
Other real estate owned | $ 3,700 | $ 600 |
Fair Value Measurements Unobservable Inputs | Discount rate for age of appraisal and market conditions | Discount rate for age of appraisal and market conditions |
State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | $ 2,565 | $ 3,135 |
Fair Value Measurements Unobservable Inputs | Discount rate Probability of default | Discount rate Probability of default |
Commercial Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | $ 3,500 | $ 200 |
Residential Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Fair Value | $ 207 | $ 432 |
Measurement Input, Discount Rate [Member] | Minimum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other Real Estate, measurement input | 0 | |
Measurement Input, Discount Rate [Member] | Minimum [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Impaired loans, measurement input | 0 | 0 |
Measurement Input, Discount Rate [Member] | Minimum [Member] | Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other Real Estate, measurement input | 0.0500 | 0.0500 |
Measurement Input, Discount Rate [Member] | Minimum [Member] | State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
State and Municipal Obligations, measurement input | 0.0305 | 0.0305 |
Measurement Input, Discount Rate [Member] | Maximum [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other Real Estate, measurement input | 0.50 | |
Measurement Input, Discount Rate [Member] | Maximum [Member] | Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Impaired loans, measurement input | 0.5000 | 0.5000 |
Measurement Input, Discount Rate [Member] | Maximum [Member] | Other Real Estate [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Other Real Estate, measurement input | 0.2000 | 0.2000 |
Measurement Input, Discount Rate [Member] | Maximum [Member] | State and Municipal Obligation [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
State and Municipal Obligations, measurement input | 0.0550 | 0.0550 |
Short-Term Borrowings (Details)
Short-Term Borrowings (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Short-term Debt [Abstract] | ||
Federal Funds Purchased | $ 11,126 | $ 43,250 |
Securities Sold under Agreements to Repurchase | 79,726 | 26,406 |
Short-term borrowings | $ 90,852 | $ 69,656 |
Short-Term Borrowings Short-Ter
Short-Term Borrowings Short-Term Borrowings (Details 1) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 79,726 | $ 26,406 |
Maturity Overnight [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 70,382 | 10,870 |
Maturity up to 30 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 6,307 |
Maturity 30 to 90 Days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | 0 | 8,683 |
Maturity over 90 days [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 9,344 | $ 546 |
Components of Net Periodic Be_3
Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
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 | $ 233 | ||||
Service cost | $ 9 | $ 10 | $ 26 | $ 31 | |
Interest cost | 36 | 33 | 109 | 98 | |
Expected return on plan assets | 0 | 0 | 0 | 0 | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 | 0 | |
Net amortization of net (gain) loss | (4) | 0 | (12) | 0 | |
Net Periodic Benefit Cost | 41 | 43 | 123 | 129 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | 188 | ||||
Pension Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Service cost | 304 | 347 | 913 | 1,041 | |
Interest cost | 866 | 798 | 2,599 | 2,395 | |
Expected return on plan assets | (896) | (991) | (2,689) | (2,972) | |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0 | 0 | 1 | 1 | |
Net amortization of net (gain) loss | 389 | 362 | 1,168 | 1,085 | |
Net Periodic Benefit Cost | $ 663 | $ 516 | 1,992 | $ 1,550 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 1,767 |
Components of Net Periodic Be_4
Components of Net Periodic Benefit Cost (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
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 Payment, Remainder of Fiscal Year | 814 | ||
Defined Contribution Plan Employer Accrued Discretionary Contribution Amount | $ 1,063 | $ 1,300 | |
Post Retirement Health Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefits Plan Estimated Future Employer Contributions In Next Fiscal Year | $ 233 | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 188 | ||
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 1,767 |
Acquisitions and FDIC Indemni_3
Acquisitions and FDIC Indemnification Asset (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 1,458 | $ 1,530 | $ 1,598 | $ 1,896 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | $ 0 | $ 0 | ||||||
Loans and Leases Receivable, Disposals | $ (35) | (16) | (107) | $ (314) | ||||
Total Covered Assets | 10,293 | 1,582 | 10,293 | 1,582 | ||||
Consumer Loan [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | 0 | 0 | 0 | 0 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | 0 | 0 | ||||||
Loans and Leases Receivable, Disposals | 0 | 0 | 0 | 0 | ||||
Total Covered Assets | 260 | 0 | 260 | 0 | ||||
Commercial Loan [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Loans and Leases Receivable, Gross, Carrying Amount, Covered | $ 1,458 | $ 1,530 | $ 1,598 | $ 1,896 | ||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | 0 | 0 | ||||||
Loans and Leases Receivable, Disposals | (35) | (16) | (107) | (314) | ||||
Total Covered Assets | $ 10,033 | $ 1,582 | $ 10,033 | $ 1,582 |
Acquisitions and FDIC Indemni_4
Acquisitions and FDIC Indemnification Asset (Details Textual) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | ||
Assets | $ 3,988,119,000 | $ 3,008,718,000 |
Goodwill | 75,417,000 | 34,355,000 |
Loans and Leases Receivable, Net of Loans with Deteriorated Credit Quality, Covered | 2,800,000 | $ 3,200,000 |
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 Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | $ 4,427 | $ (3,421) | $ 23,599 | $ (15,240) |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | 4,128 | (3,700) | 22,702 | (16,079) |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | 299 | 279 | 897 | 839 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | 4,427 | (3,421) | (15,240) | |
TOTAL Balance | (4,282) | (28,889) | (23,454) | (14,704) |
TOTAL Balance | 145 | (32,310) | 145 | (32,310) |
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 | 4,124 | (3,702) | 22,689 | (12,721) |
Change in Other comprehensive income before reclassification, Unrealized gains and Losses on available-for-sale Securities | 4,128 | (3,700) | 22,702 | (16,079) |
Amount reclassified from accumalted other comperhensive income, unrealized gain and losses and available for sale securities | (4) | (2) | (13) | (4) |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | 4,124 | (3,702) | (16,083) | |
TOTAL Balance | 12,460 | (9,625) | (6,105) | 2,258 |
TOTAL Balance | 16,584 | (13,327) | 16,584 | (13,327) |
Accumulated Defined Benefit Plans Adjustment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 303 | 281 | 910 | (2,519) |
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 | 303 | 281 | 910 | 843 |
Net Current period other comprehensive other income, Unrealized gains and Losses on available-for-sale Securities | 303 | 281 | 843 | |
TOTAL Balance | (16,742) | (19,264) | (17,349) | (16,962) |
TOTAL Balance | $ (16,439) | $ (18,983) | $ (16,439) | $ (18,983) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Other Comprehensive Income (Loss), Net of Tax, Footnote | $ 4,427 | |||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | 4,128 | $ (3,700) | $ 22,702 | $ (16,079) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 4,427 | (3,421) | (15,240) | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 299 | 279 | 897 | 839 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 145 | (32,310) | 145 | (32,310) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 4,427 | (3,421) | 23,599 | (15,240) |
TOTAL Balance | (4,282) | (28,889) | (23,454) | (14,704) |
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 | 4,128 | (3,700) | 22,702 | (16,079) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | 4,124 | (3,702) | (16,083) | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (4) | (2) | (13) | (4) |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 16,584 | (13,327) | 16,584 | (13,327) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 4,124 | (3,702) | 22,689 | (12,721) |
TOTAL Balance | 12,460 | (9,625) | (6,105) | 2,258 |
Unrealized gains losses on securities available-for-sale with other than temporary impairment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 2,698 | 1,975 | 2,698 | 1,975 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 236 | 8 | 357 | (1,654) |
TOTAL Balance | 2,462 | 1,967 | 2,341 | 3,629 |
Unrealized gains losses on securities available-for-sale without other than temporary impairment [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | 13,886 | (15,302) | 13,886 | (15,302) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 3,888 | (3,710) | 22,332 | (11,067) |
TOTAL Balance | 9,998 | (11,592) | (8,446) | (1,371) |
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 | 303 | 281 | 843 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 303 | 281 | 910 | 843 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
TOTAL Balance | (16,439) | (18,983) | (16,439) | (18,983) |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | 303 | 281 | 910 | (2,519) |
TOTAL Balance | $ (16,742) | $ (19,264) | $ (17,349) | $ (16,962) |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | ||||
Net securities gains (losses) | $ 6 | $ 3 | $ 18 | $ 5 |
Income tax expense | (2,579) | (2,656) | (8,000) | (8,941) |
Unrealized gain (loss) on securities, net of tax | 12,257 | 11,313 | 34,508 | 35,527 |
Change in funded status of post retirement benefits | 303 | 281 | 910 | 843 |
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 | (299) | (279) | (897) | (839) |
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) | 6 | 3 | 18 | 5 |
Income tax expense | (2) | (1) | (5) | (1) |
Unrealized gain (loss) on securities, net of tax | 4 | 2 | 13 | 4 |
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 | 86 | 81 | 258 | 242 |
Unrealized gain (loss) on securities, net of tax | (303) | (281) | (910) | (843) |
Change in funded status of post retirement benefits | $ (389) | $ (362) | $ (1,168) | $ (1,085) |