Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 29, 2013 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 30-Sep-13 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | S&T BANCORP INC | |
Entity Central Index Key | 719220 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 29,738,305 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and due from banks, including interest-bearing deposits of $160,420 and $257,116 at September 30, 2013 and December 31, 2012, respectively | $234,928 | $337,711 |
Securities available-for-sale, at fair value | 488,162 | 452,266 |
Loans held for sale | 3,695 | 22,499 |
Portfolio loans, net of unearned income | 3,511,335 | 3,346,622 |
Allowance for loan losses | -47,983 | -46,484 |
Portfolio loans, net | 3,463,352 | 3,300,138 |
Bank owned life insurance | 60,001 | 58,619 |
Premises and equipment, net | 37,792 | 38,676 |
Federal Home Loan Bank and other restricted stock, at cost | 15,049 | 15,315 |
Goodwill | 175,820 | 175,733 |
Other intangible assets, net | 4,128 | 5,350 |
Other assets | 105,201 | 120,395 |
Total Assets | 4,588,128 | 4,526,702 |
LIABILITIES | ||
Noninterest-bearing demand | 974,262 | 960,980 |
Interest-bearing demand | 324,291 | 316,760 |
Money market | 308,445 | 361,233 |
Savings | 1,039,115 | 965,571 |
Certificates of deposit | 1,048,090 | 1,033,884 |
Total Deposits | 3,694,203 | 3,638,428 |
Securities sold under repurchase agreements | 33,290 | 62,582 |
Short-term borrowings | 175,000 | 75,000 |
Long-term borrowings | 22,390 | 34,101 |
Junior subordinated debt securities | 45,619 | 90,619 |
Other liabilities | 62,198 | 88,550 |
Total Liabilities | 4,032,700 | 3,989,280 |
SHAREHOLDERS' EQUITY | ||
Common stock ($2.50 par value) Authorized-50,000,000 shares Issued-31,197,365 shares at September 30, 2013 and December 31, 2012 Outstanding-29,738,305 shares at September 30, 2013 and 29,732,209 shares at December 31, 2012 | 77,993 | 77,993 |
Additional paid-in capital | 77,835 | 77,458 |
Retained earnings | 461,044 | 436,039 |
Accumulated other comprehensive income (loss) | -21,168 | -13,582 |
Treasury stock (1,459,060 shares at September 30, 2013 and 1,465,156 shares at December 31, 2012, at cost) | -40,276 | -40,486 |
Total Shareholders' Equity | 555,428 | 537,422 |
Total Liabilities and Shareholders' Equity | $4,588,128 | $4,526,702 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ||
Cash and due from banks, interest-bearing amounts | $160,420 | $257,116 |
Common stock, par value | $2.50 | $2.50 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 31,197,365 | 31,197,365 |
Common stock, shares outstanding | 29,738,305 | 29,732,209 |
Treasury stock, shares | 1,459,060 | 1,465,156 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
INTEREST INCOME | ||||
Loans, including fees | $35,733 | $36,121 | $106,543 | $109,054 |
Investment securities: | ||||
Taxable | 1,889 | 1,829 | 5,631 | 5,660 |
Tax-exempt | 865 | 788 | 2,513 | 2,319 |
Dividends | 94 | 82 | 290 | 297 |
Total Interest Income | 38,581 | 38,820 | 114,977 | 117,330 |
INTEREST EXPENSE | ||||
Deposits | 2,717 | 3,958 | 8,870 | 13,184 |
Borrowings and junior subordinated debt securities | 590 | 1,067 | 2,568 | 3,211 |
Total Interest Expense | 3,307 | 5,025 | 11,438 | 16,395 |
NET INTEREST INCOME | 35,274 | 33,795 | 103,539 | 100,935 |
Provision for loan losses | 3,419 | 2,305 | 6,749 | 18,600 |
Net Interest Income After Provision for Loan Losses | 31,855 | 31,490 | 96,790 | 82,335 |
NONINTEREST INCOME | ||||
Securities gains, net | 3 | 2,170 | 5 | 3,016 |
Service charges on deposit accounts | 2,801 | 2,567 | 7,744 | 7,407 |
Debit and credit card fees | 2,764 | 2,966 | 8,365 | 8,472 |
Wealth management fees | 2,747 | 2,397 | 8,143 | 7,393 |
Insurance fees | 1,738 | 1,731 | 5,156 | 4,941 |
Mortgage banking | 265 | 797 | 1,658 | 2,174 |
Gain on sale of merchant card servicing business | 3,093 | |||
Other | 2,224 | 2,118 | 6,051 | 6,944 |
Total Noninterest Income | 12,542 | 14,746 | 40,215 | 40,347 |
NONINTEREST EXPENSE | ||||
Salaries and employee benefits | 14,910 | 14,819 | 45,701 | 45,933 |
Data processing | 2,137 | 2,012 | 6,938 | 7,448 |
Net occupancy | 1,910 | 1,978 | 6,037 | 5,594 |
Furniture and equipment | 1,084 | 1,414 | 3,623 | 3,861 |
Other taxes | 1,039 | 982 | 2,953 | 2,533 |
Professional services and legal | 996 | 1,440 | 3,141 | 4,548 |
FDIC insurance | 629 | 838 | 2,112 | 2,164 |
Marketing | 607 | 759 | 2,088 | 2,156 |
Other | 4,631 | 6,776 | 15,352 | 18,909 |
Total Noninterest Expense | 27,943 | 31,018 | 87,945 | 93,146 |
Income Before Taxes | 16,454 | 15,218 | 49,060 | 29,536 |
Provision for income taxes | 4,207 | 2,623 | 10,380 | 4,861 |
Net Income | 12,247 | 12,595 | 38,680 | 24,675 |
Earnings per share-basic | $0.41 | $0.43 | $1.30 | $0.85 |
Earnings per share-diluted | $0.41 | $0.43 | $1.30 | $0.85 |
Dividends declared per share | $0.15 | $0.15 | $0.45 | $0.45 |
Comprehensive Income | $12,874 | $14,514 | $31,094 | $27,313 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands | ||||||
Balance at Dec. 31, 2011 | $490,526 | $74,285 | $52,637 | $421,468 | ($14,108) | ($43,756) |
Net income | 24,675 | 24,675 | ||||
Other comprehensive income (loss), net of tax | 2,638 | 2,638 | ||||
Cash dividends declared | -12,897 | -12,897 | ||||
Common stock issued in acquisition | 27,610 | 3,708 | 23,902 | |||
Treasury stock issued for restricted awards | 999 | -2,310 | 3,309 | |||
Recognition of restricted stock compensation expense | 721 | 721 | ||||
Tax expense from stock-based compensation | -30 | -30 | ||||
Balance at Sep. 30, 2012 | 534,242 | 77,993 | 77,230 | 430,936 | -11,470 | -40,447 |
Balance at Dec. 31, 2012 | 537,422 | 77,993 | 77,458 | 436,039 | -13,582 | -40,486 |
Net income | 38,680 | 38,680 | ||||
Other comprehensive income (loss), net of tax | -7,586 | -7,586 | ||||
Cash dividends declared | -13,379 | -13,379 | ||||
Treasury stock issued for restricted awards | -86 | -296 | 210 | |||
Recognition of restricted stock compensation expense | 424 | 424 | ||||
Tax expense from stock-based compensation | -47 | -47 | ||||
Balance at Sep. 30, 2013 | $555,428 | $77,993 | $77,835 | $461,044 | ($21,168) | ($40,276) |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Cash dividends declared, per share | $0.45 | $0.45 |
Common stock issued in acquisition, shares | 1,483,327 | |
Treasury stock issued for restricted awards, net of forfeitures | 22,189 | 122,879 |
Forfeitures of restricted stock, shares | 16,093 | 3,863 |
Common Stock [Member] | ||
Common stock issued in acquisition, shares | 1,483,327 | |
Additional Paid-in Capital [Member] | ||
Common stock issued in acquisition, shares | 1,483,327 | |
Retained Earnings [Member] | ||
Cash dividends declared, per share | $0.45 | $0.45 |
Treasury stock issued for restricted awards, net of forfeitures | 22,189 | 122,879 |
Forfeitures of restricted stock, shares | 16,093 | 3,863 |
Treasury Stock [Member] | ||
Treasury stock issued for restricted awards, net of forfeitures | 22,189 | 122,879 |
Forfeitures of restricted stock, shares | 16,093 | 3,863 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES | ||
Net income | $38,680 | $24,675 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 6,749 | 18,600 |
Provision for unfunded loan commitments | 143 | 1,956 |
Depreciation and amortization | 4,320 | 5,306 |
Net amortization of discounts and premiums | 2,757 | 1,591 |
Stock-based compensation expense | 508 | 683 |
Securities gains, net | -5 | -3,016 |
Net gain on sale of merchant card servicing business | -3,093 | |
Tax expense from stock-based compensation | 47 | 30 |
Mortgage loans originated for sale | -55,702 | -62,920 |
Proceeds from the sale of loans | 77,540 | 63,661 |
Gain on the sale of loans, net | -776 | -1,079 |
Net (increase) decrease in interest receivable | -21 | 51 |
Net decrease in interest payable | -2,230 | -1,251 |
Net decrease in other assets | 21,543 | 10,677 |
Net (decrease) increase in other liabilities | -22,543 | 19,537 |
Net Cash Provided by Operating Activities | 67,917 | 78,501 |
INVESTING ACTIVITIES | ||
Purchases of securities available-for-sale | -102,419 | -118,857 |
Proceeds from maturities, prepayments and calls of securities available-for-sale | 50,177 | 79,122 |
Proceeds from sales of securities available-for-sale | 94 | 66,575 |
Net proceeds from the redemption of Federal Home Loan Bank stock | 265 | 3,557 |
Net (increase) decrease in loans | -177,433 | 55,119 |
Purchases of premises and equipment | -2,599 | -1,779 |
Proceeds from the sale of premises and equipment | 625 | 142 |
Net cash acquired from bank acquisitions | 18,639 | |
Proceeds from the sale of merchant card servicing business | 4,750 | |
Net Cash (Used in) Provided by Investing Activities | -226,540 | 102,518 |
FINANCING ACTIVITIES | ||
Net increase in core deposits | 41,570 | 119,088 |
Net increase (decrease) in certificates of deposit | 13,785 | -172,541 |
Net (decrease) increase in securities sold under repurchase agreements | -29,292 | 15,121 |
Net increase (decrease) in short-term borrowings | 100,000 | -50,000 |
Proceeds from long-term borrowings | 4,311 | |
Repayments of long-term borrowings | -11,711 | -8,520 |
Repayment of junior subordinated debt | -45,000 | |
Purchase of treasury shares | -86 | -48 |
Sale of treasury shares | 1,047 | |
Cash dividends paid to common shareholders | -13,379 | -12,897 |
Tax expense from stock-based compensation | -47 | -30 |
Net Cash Provided by (Used in) Financing Activities | 55,840 | -104,469 |
Net (decrease) increase in cash and cash equivalents | -102,783 | 76,550 |
Cash and cash equivalents at beginning of period | 337,711 | 270,526 |
Cash and Cash Equivalents at End of Period | 234,928 | 347,076 |
Supplemental Disclosures | ||
Interest paid | 13,668 | 17,575 |
Income taxes paid, net of refunds | 8,130 | 1,394 |
Net assets (liabilities) from acquisitions, excluding cash and cash equivalents | -683 | |
Transfers to other real estate owned and other repossessed assets | $493 | $864 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | |
Basis of Presentation | NOTE 1. BASIS OF PRESENTATION |
Principles of Consolidation | |
The interim Consolidated Financial Statements include the accounts of S&T Bancorp, Inc., or S&T, and its wholly owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. Investments of 20 percent to 50 percent of the outstanding common stock of investees are accounted for using the equity method of accounting. | |
Basis of Presentation | |
The accompanying unaudited interim Consolidated Financial Statements of S&T have been prepared in accordance with generally accepted accounting principles, or GAAP, in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our annual report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission, or SEC, on February 25, 2013. In the opinion of management, the accompanying interim financial information reflects all adjustments, including normal recurring adjustments, necessary to present fairly our financial position and the results of operations for each of the interim periods presented. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year or any future period. | |
Reclassification | |
Certain amounts in the prior periods’ financial statements and footnotes have been reclassified to conform to the current period’s presentation. The reclassifications had no significant effect on our results of operations or financial condition. | |
Use of Estimates | |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. | |
Recently Adopted Accounting Standards Updates | |
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income | |
In February 2013, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income. ASU 2013-02 requires reporting the effect of significant reclassifications out of accumulated other comprehensive income by component on the respective line items in the income statement parenthetically or in the notes to the financial statements if the amounts being reclassified are required under GAAP to be reclassified in their entirety to net income. This ASU is effective for public companies prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012 and early adoption is permitted. We have elected the option of reporting in the notes to the financial statements. The adoption of ASU 2013-02 impacted only our disclosures and did not have an impact on our results of operations or financial position. | |
Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities | |
In January 2013, the FASB issued ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities in order to clarify the scope of ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, issued in December 2011. ASU 2011-11 required entities to disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. This ASU was issued to allow investors to better compare financial statements prepared under GAAP with financial statements prepared under International Financial Reporting Standards, or IFRS. ASU 2013-01 clarified that ASU 2011-11 applies to derivatives, sale and repurchase agreements and reverse sale of repurchase agreements, and securities borrowing and securities lending arrangements, but does not apply to standard commercial contracts that permit either party to net in the event of default under the applicable contract or to broker-dealer unsettled regular-way trades. Both ASUs are effective for public companies retrospectively for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The adoption of ASU 2013-01 and ASU 2011-11 impacted only our disclosures and did not have an impact on our results of operations or financial position. | |
Recently Issued Accounting Standards Updates not yet Adopted | |
Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date | |
In February 2013, the FASB issued ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date. The ASU requires the measurement of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement with its co-obligors as well as any additional amount that the entity expects to pay on behalf of its co-obligors. The new standard is effective retrospectively for fiscal years and interim periods within those years, beginning after December 15, 2013, and early adoption is permitted. The adoption of this ASU is not expected to have a material impact on our results of operations or financial position. | |
Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Tax Credit Carry forward Exists | |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Tax Credit Carry forward Exists. The ASU requires that entities should present an unrecognized tax benefit as a reduction of the deferred tax asset for a net operating loss, or NOL, or similar tax loss or tax credit carry forward rather than as a liability when the uncertain tax position would reduce the NOL or other carry forward under the tax law. No new disclosures will be necessary. The new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, and should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of this ASU is expected to impact the presentation of our statement of financial position, but is not expected to have any impact on our results of operations. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Earnings Per Share | NOTE 2. EARNINGS PER SHARE | ||||||||||||||||
The following table reconciles the numerators and denominators of basic earnings per share with that of diluted earnings per share for the periods presented: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
(dollars in thousands, except shares and per share data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator for Earnings per Share—Basic: | |||||||||||||||||
Net income | $ | 12,247 | $ | 12,595 | $ | 38,680 | $ | 24,675 | |||||||||
Less: Income allocated to participating shares | 33 | 50 | 114 | 107 | |||||||||||||
Net Income Allocated to Shareholders | $ | 12,214 | $ | 12,545 | $ | 38,566 | $ | 24,568 | |||||||||
Numerator for Earnings per Share—Diluted: | |||||||||||||||||
Net income | $ | 12,247 | $ | 12,595 | $ | 38,680 | $ | 24,675 | |||||||||
Net Income Available to Shareholders | $ | 12,247 | $ | 12,595 | $ | 38,680 | $ | 24,675 | |||||||||
Denominators: | |||||||||||||||||
Weighted Average Shares Outstanding—Basic | 29,658,065 | 29,244,588 | 29,644,646 | 28,740,582 | |||||||||||||
Add: Dilutive potential shares | 27,535 | 32,644 | 35,132 | 33,614 | |||||||||||||
Denominator for Treasury Stock Method—Diluted | 29,685,600 | 29,277,232 | 29,679,778 | 28,774,196 | |||||||||||||
Weighted Average Shares Outstanding—Basic | 29,658,065 | 29,244,588 | 29,644,646 | 28,740,582 | |||||||||||||
Add: Average participating shares outstanding | 80,240 | 116,402 | 87,725 | 125,240 | |||||||||||||
Denominator for Two-Class Method—Diluted | 29,738,305 | 29,360,990 | 29,732,371 | 28,865,822 | |||||||||||||
Earnings per share—basic | $ | 0.41 | $ | 0.43 | $ | 1.3 | $ | 0.85 | |||||||||
Earnings per share—diluted | $ | 0.41 | $ | 0.43 | $ | 1.3 | $ | 0.85 | |||||||||
Warrants considered anti-dilutive excluded from dilutive potential shares | 517,012 | 517,012 | 517,012 | 517,012 | |||||||||||||
Stock options considered anti-dilutive excluded from dilutive potential shares | 612,768 | 748,964 | 632,481 | 751,492 | |||||||||||||
Restricted stock considered anti-dilutive excluded from dilutive potential shares | 52,705 | 48,717 | 52,593 | 56,585 | |||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||
Fair Value Measurements | NOTE 3. FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||||||||||
We use fair value measurements when recording and disclosing certain financial assets and liabilities. Securities available-for-sale, trading assets and derivatives are recorded at fair value on a recurring basis. Additionally, from time to time, we may be required to record other assets at fair value on a nonrecurring basis, such as loans held for sale, impaired loans, other real estate owned, or OREO, mortgage servicing rights, or MSRs, and certain other assets. | |||||||||||||||||||||||||||||||||
Fair value is the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not a forced transaction. In determining fair value, we use various valuation approaches, including market, income and cost approaches. The fair value standard establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing an asset or liability, which is developed, based on market data we have obtained from independent sources. Unobservable inputs reflect our estimate of assumptions that market participants would use in pricing an asset or liability, which are developed based on the best information available in the circumstances. | |||||||||||||||||||||||||||||||||
The fair value hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The fair value hierarchy is broken down into three levels based on the reliability of inputs as follows: | |||||||||||||||||||||||||||||||||
Level 1: valuation is based upon unadjusted quoted market prices for identical instruments traded in active markets. | |||||||||||||||||||||||||||||||||
Level 2: valuation is based upon quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by market data. | |||||||||||||||||||||||||||||||||
Level 3: valuation is derived from other valuation methodologies, including discounted cash flow models and similar techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in determining fair value. | |||||||||||||||||||||||||||||||||
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Our policy is to recognize transfers between any of the fair value hierarchy levels at the end of the reporting period in which the transfer occurred. | |||||||||||||||||||||||||||||||||
The following are descriptions of the valuation methodologies that we use for financial instruments recorded at fair value on either a recurring or nonrecurring basis. | |||||||||||||||||||||||||||||||||
Recurring Basis | |||||||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||
Securities available-for-sale include both debt and equity securities. We obtain fair values for debt securities from a third-party pricing service which utilizes several sources for valuing fixed-income securities. We validate prices received from our pricing service through comparison to a secondary pricing service and broker quotes. We review the methodologies of the pricing service which provides us with a sufficient understanding of the valuation models, assumptions, inputs and pricing to reasonably measure the fair value of our securities. The market evaluation sources for debt securities include observable inputs rather than significant unobservable inputs and are classified as Level 2. The service provider utilizes pricing models that vary by asset class and include available trade, bid and other market information. Generally, the methodologies include broker quotes, proprietary models, vast descriptive terms and conditions databases, as well as extensive quality control programs. | |||||||||||||||||||||||||||||||||
Marketable equity securities that have an active, quotable market are classified as Level 1. Marketable equity securities that are quotable, but are thinly traded or inactive, are classified as Level 2 and securities that are not readily traded and do not have a quotable market are classified as Level 3. | |||||||||||||||||||||||||||||||||
Trading Assets | |||||||||||||||||||||||||||||||||
We use quoted market prices to determine the fair value of our trading assets. Our trading assets are held in a Rabbi Trust under a deferred compensation plan and are invested in readily quoted mutual funds. Accordingly, these assets are classified as Level 1. | |||||||||||||||||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||||||||||||||
We use derivative instruments including interest rate swaps for commercial loans with our customers and we sell mortgage loans in the secondary market and enter into interest rate lock commitments. We calculate the fair value for derivatives using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. Each valuation considers the contractual terms of the derivative, including the period to maturity and uses observable market based inputs, such as interest rate curves and implied volatilities. Accordingly, derivatives are classified as Level 2. We incorporate credit valuation adjustments into the valuation models to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in calculating fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements and collateral postings. | |||||||||||||||||||||||||||||||||
Nonrecurring Basis | |||||||||||||||||||||||||||||||||
Loans Held for Sale | |||||||||||||||||||||||||||||||||
Loans held for sale consist of 1-4 family residential loans originated for sale in the secondary market and, from time to time, certain loans transferred from the loan portfolio to loans held for sale, all of which are carried at the lower of cost or fair value. The fair value of 1-4 family residential loans is based on the principal or most advantageous market currently offered for similar loans using observable market data. The fair value of the loans transferred from the loan portfolio is based on the amounts offered for these loans in currently pending sales transactions. Loans held for sale carried at fair value are classified as Level 3. | |||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
Impaired loans are carried at the lower of carrying value or fair value. Fair value is determined as the recorded investment balance less any specific reserve. We establish a specific reserve based on the following three impairment methods: 1) the present value of expected future cash flows discounted at the loan’s original effective interest rate, 2) the loan’s observable market price or 3) the fair value of the collateral less estimated selling costs when the loan is collateral dependent and we expect to liquidate the collateral. However, if repayment is expected to come from the operation of the collateral, rather than liquidation, then we do not consider estimated selling costs in determining the fair value of the collateral. Collateral values are generally based upon appraisals by approved, independent state certified appraisers. Appraisals may be discounted based on our historical knowledge, changes in market conditions from the time of appraisal or our knowledge of the borrower and the borrower’s business. Impaired loans carried at fair value are classified as Level 3. | |||||||||||||||||||||||||||||||||
OREO and Other Repossessed Assets | |||||||||||||||||||||||||||||||||
OREO and other repossessed assets obtained in partial or total satisfaction of a loan are recorded at the lower of recorded investment in the loan or fair value less cost to sell. Subsequent to foreclosure, these assets are carried at the lower of the amount recorded at acquisition date or fair value less cost to sell. Accordingly, it may be necessary to record nonrecurring fair value adjustments. Fair value, when recorded, is generally based upon appraisals by approved, independent state certified appraisers. Like impaired loans, appraisals on OREO may be discounted based on our historical knowledge, changes in market conditions from the time of appraisal or other information available to us. OREO and other repossessed assets are classified as Level 3. | |||||||||||||||||||||||||||||||||
Mortgage Servicing Rights | |||||||||||||||||||||||||||||||||
The fair value of MSRs is determined by calculating the present value of estimated future net servicing cash flows, considering expected mortgage loan prepayment rates, discount rates, servicing costs and other economic factors, which are determined based on current market conditions. The expected rate of mortgage loan prepayments is the most significant factor driving the value of MSRs. MSRs are considered impaired if the carrying value exceeds fair value. The valuation model includes significant unobservable inputs; therefore, MSRs are classified as Level 3 within the fair value hierarchy. | |||||||||||||||||||||||||||||||||
Other Assets | |||||||||||||||||||||||||||||||||
We measure certain other assets at fair value on a nonrecurring basis. Fair value is based on the application of lower of cost or fair value accounting, or write-downs of individual assets. Valuation methodologies used to measure fair value are consistent with overall principles of fair value accounting and consistent with those described above. | |||||||||||||||||||||||||||||||||
Financial Instruments | |||||||||||||||||||||||||||||||||
In addition to financial instruments recorded at fair value in our financial statements, fair value accounting guidance requires disclosure of the fair value of all of an entity’s assets and liabilities that are considered financial instruments. The majority of our assets and liabilities are considered financial instruments. Many of these instruments lack an available trading market as characterized by a willing buyer and willing seller engaged in an exchange transaction. Also, it is our general practice and intent to hold our financial instruments to maturity and to not engage in trading or sales activities with respect to such financial instruments. For fair value disclosure purposes, we substantially utilize the fair value measurement criteria as required and explained above. In cases where quoted fair values are not available, we use present value methods to determine the fair value of our financial instruments. | |||||||||||||||||||||||||||||||||
Cash and Cash Equivalents and Other Short-Term Assets | |||||||||||||||||||||||||||||||||
The carrying amounts reported in the Consolidated Balance Sheets for cash and due from banks, including interest-bearing deposits, approximate fair value. | |||||||||||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||||||||||
The fair value of variable rate performing loans is based on carrying values adjusted for credit risk. The fair value of fixed rate performing loans is estimated using a discounted cash flow analyses that utilizes interest rates currently being offered for similar loans and adjusted for credit risk. The fair value of nonperforming loans is based on their carrying values less any specific reserve. The carrying amount of accrued interest approximates fair value. | |||||||||||||||||||||||||||||||||
Bank Owned Life Insurance | |||||||||||||||||||||||||||||||||
Fair value approximates net cash surrender value. | |||||||||||||||||||||||||||||||||
Deposits | |||||||||||||||||||||||||||||||||
The fair values disclosed for deposits without defined maturities (e.g., noninterest and interest-bearing demand, money market and savings accounts) are by definition equal to the amounts payable on demand. The carrying amounts for variable rate, fixed-term time deposits approximate their fair values. Estimated fair values for fixed rate and other time deposits are based on discounted cash flow analysis using interest rates currently offered for time deposits with similar terms. The carrying amount of accrued interest approximates fair value. | |||||||||||||||||||||||||||||||||
Short-Term Borrowings | |||||||||||||||||||||||||||||||||
The carrying amounts of securities sold under repurchase agreements, federal funds purchased and other short-term borrowings approximate their fair values. | |||||||||||||||||||||||||||||||||
Long-Term Borrowings | |||||||||||||||||||||||||||||||||
The fair values disclosed for fixed rate long-term borrowings are determined by discounting their contractual cash flows using current interest rates for long-term borrowings of similar remaining maturities. The carrying amounts of variable rate long-term borrowings approximate their fair values. | |||||||||||||||||||||||||||||||||
Junior Subordinated Debt Securities | |||||||||||||||||||||||||||||||||
The variable rate junior subordinated debt securities reprice quarterly; therefore, the fair values are based on the carrying values. | |||||||||||||||||||||||||||||||||
Loan Commitments and Standby Letters of Credit | |||||||||||||||||||||||||||||||||
Off-balance sheet financial instruments consist of commitments to extend credit and letters of credit. Except for interest rate lock commitments, estimates of the fair value of these off-balance sheet items are not made because of the short-term nature of these arrangements and the credit standing of the counterparties. | |||||||||||||||||||||||||||||||||
Other | |||||||||||||||||||||||||||||||||
Estimates of fair value are not made for items that are not defined as financial instruments, including such items as our core deposit intangibles and the value of our trust operations. | |||||||||||||||||||||||||||||||||
The following tables present our assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy level at September 30, 2013 and December 31, 2012. There were no transfers between Level 1 and Level 2 for items measured at fair value on a recurring basis during the periods presented. | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | — | $ | 237,398 | $ | — | $ | 237,398 | |||||||||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | — | 44,877 | — | 44,877 | |||||||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | — | 51,250 | — | 51,250 | |||||||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | — | 30,680 | — | 30,680 | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | — | 114,817 | — | 114,817 | |||||||||||||||||||||||||||||
Marketable equity securities | 183 | 8,957 | — | 9,140 | |||||||||||||||||||||||||||||
Total securities available-for-sale | 183 | 487,979 | — | 488,162 | |||||||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,545 | — | — | 2,545 | |||||||||||||||||||||||||||||
Total securities | 2,728 | 487,979 | — | 490,707 | |||||||||||||||||||||||||||||
Derivative financial assets: | |||||||||||||||||||||||||||||||||
Interest rate swaps | — | 16,084 | — | 16,084 | |||||||||||||||||||||||||||||
Interest rate lock commitments | — | 206 | — | 206 | |||||||||||||||||||||||||||||
Total Assets | $ | 2,728 | $ | 504,269 | $ | — | $ | 506,997 | |||||||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||||||||||||||
Derivative financial liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | — | $ | 16,025 | $ | — | $ | 16,025 | |||||||||||||||||||||||||
Forward sale contracts | — | 162 | — | 162 | |||||||||||||||||||||||||||||
Total Liabilities | $ | — | $ | 16,187 | $ | — | $ | 16,187 | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | — | $ | 212,066 | $ | — | $ | 212,066 | |||||||||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | — | 57,896 | — | 57,896 | |||||||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | — | 50,623 | — | 50,623 | |||||||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | — | 10,158 | — | 10,158 | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | — | 112,767 | — | 112,767 | |||||||||||||||||||||||||||||
Marketable equity securities | 140 | 8,316 | 300 | 8,756 | |||||||||||||||||||||||||||||
Total securities available-for-sale | 140 | 451,826 | 300 | 452,266 | |||||||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,223 | — | — | 2,223 | |||||||||||||||||||||||||||||
Total securities | 2,363 | 451,826 | 300 | 454,489 | |||||||||||||||||||||||||||||
Derivative financial assets: | |||||||||||||||||||||||||||||||||
Interest rate swaps | — | 23,748 | — | 23,748 | |||||||||||||||||||||||||||||
Interest rate lock commitments | — | 467 | — | 467 | |||||||||||||||||||||||||||||
Total Assets | $ | 2,363 | $ | 476,041 | $ | 300 | $ | 478,704 | |||||||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||||||||||||||
Derivative financial liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | — | $ | 23,522 | $ | — | $ | 23,522 | |||||||||||||||||||||||||
Forward sale contracts | — | 48 | — | 48 | |||||||||||||||||||||||||||||
Total Liabilities | $ | — | $ | 23,570 | $ | — | $ | 23,570 | |||||||||||||||||||||||||
We classify financial instruments as Level 3 when valuation models are used because significant inputs are not observable in the market. The following table presents the changes in assets measured at fair value on a recurring basis for which we have utilized Level 3 inputs to determine the fair value: | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | 556 | $ | 300 | $ | 462 | |||||||||||||||||||||||||
Total gains included in other comprehensive income(1) | — | 19 | 44 | 50 | |||||||||||||||||||||||||||||
Net purchases, sales, issuances and settlements | — | (300 | ) | — | (237 | ) | |||||||||||||||||||||||||||
Transfers out of Level 3 | — | — | (344 | ) | — | ||||||||||||||||||||||||||||
Balance at end of period | $ | — | $ | 275 | $ | — | $ | 275 | |||||||||||||||||||||||||
(1) Changes in estimated fair value of available-for-sale investments are recorded in accumulated other comprehensive income/loss, while realized gains and losses from sales are recorded in security gains (losses), net in the Consolidated Statements of Comprehensive Income. | |||||||||||||||||||||||||||||||||
In the second quarter of 2013, $0.3 million was transferred out of Level 3 into Level 2 as a result of a security becoming listed on a national exchange. There were no Level 3 liabilities measured at fair value on a recurring basis for any of the periods presented. | |||||||||||||||||||||||||||||||||
We may be required to measure certain assets and liabilities on a nonrecurring basis. The following table presents our assets that are measured at estimated fair value on a nonrecurring basis by the fair value hierarchy level at September 30, 2013 and December 31, 2012. There were no liabilities measured at estimated fair value on a nonrecurring basis during these periods. Loans held for sale are recorded at the lower of cost or fair value. We had no loans held for sale that were recorded at fair value at September 30, 2013 and December 31, 2012. | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 23,482 | $ | 23,482 | $ | — | $ | — | $ | 44,059 | $ | 44,059 | |||||||||||||||||
Other real estate owned | — | — | 221 | 221 | — | — | 585 | 585 | |||||||||||||||||||||||||
Mortgage servicing rights | — | — | 2,960 | 2,960 | — | — | 2,106 | 2,106 | |||||||||||||||||||||||||
Total Assets | $ | — | $ | — | $ | 26,663 | $ | 26,663 | $ | — | $ | — | $ | 46,750 | $ | 46,750 | |||||||||||||||||
The carrying values and fair values of our financial instruments at September 30, 2013 and December 31, 2012 are presented in the following tables: | |||||||||||||||||||||||||||||||||
Fair Value Measurements at September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Carrying | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Value(1) | |||||||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Cash and due from banks, including interest-bearing deposits | $ | 234,928 | $ | 234,928 | $ | 234,928 | $ | — | $ | — | |||||||||||||||||||||||
Securities available-for-sale | 488,162 | 488,162 | 183 | 487,979 | — | ||||||||||||||||||||||||||||
Loans held for sale | 3,695 | 3,829 | — | — | 3,829 | ||||||||||||||||||||||||||||
Portfolio loans, net of unearned income | 3,511,335 | 3,479,150 | — | — | 3,479,150 | ||||||||||||||||||||||||||||
Bank owned life insurance | 60,001 | 60,001 | — | 60,001 | — | ||||||||||||||||||||||||||||
FHLB and other restricted stock | 15,049 | 15,049 | — | — | 15,049 | ||||||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,545 | 2,545 | 2,545 | — | — | ||||||||||||||||||||||||||||
Mortgage servicing rights | 2,820 | 2,960 | — | — | 2,960 | ||||||||||||||||||||||||||||
Interest rate swaps | 16,084 | 16,084 | — | 16,084 | — | ||||||||||||||||||||||||||||
Interest rate lock commitments | 206 | 206 | — | 206 | — | ||||||||||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||||||||||||||
Deposits | $ | 3,694,203 | $ | 3,696,214 | $ | — | $ | — | $ | 3,696,214 | |||||||||||||||||||||||
Securities sold under repurchase agreements | 33,290 | 33,290 | — | — | 33,290 | ||||||||||||||||||||||||||||
Short-term borrowings | 175,000 | 175,000 | — | — | 175,000 | ||||||||||||||||||||||||||||
Long-term borrowings | 22,390 | 23,718 | — | — | 23,718 | ||||||||||||||||||||||||||||
Junior subordinated debt securities | 45,619 | 45,619 | — | — | 45,619 | ||||||||||||||||||||||||||||
Interest rate swaps | 16,025 | 16,025 | — | 16,025 | — | ||||||||||||||||||||||||||||
Forward sale contracts | 162 | 162 | — | 162 | — | ||||||||||||||||||||||||||||
(1) As reported in the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Carrying | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Value(1) | |||||||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Cash and due from banks, including interest-bearing deposits | $ | 337,711 | $ | 337,711 | $ | 337,711 | $ | — | $ | — | |||||||||||||||||||||||
Securities available-for-sale | 452,266 | 452,266 | 140 | 451,826 | 300 | ||||||||||||||||||||||||||||
Loans held for sale | 22,499 | 22,601 | — | — | 22,601 | ||||||||||||||||||||||||||||
Portfolio loans, net of unearned income | 3,346,622 | 3,347,602 | — | — | 3,347,602 | ||||||||||||||||||||||||||||
Bank owned life insurance | 58,619 | 58,619 | — | 58,619 | — | ||||||||||||||||||||||||||||
FHLB and other restricted stock | 15,315 | 15,315 | — | — | 15,315 | ||||||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,223 | 2,223 | 2,223 | — | — | ||||||||||||||||||||||||||||
Mortgage servicing rights | 2,106 | 2,106 | — | — | 2,106 | ||||||||||||||||||||||||||||
Interest rate swaps | 23,748 | 23,748 | — | 23,748 | — | ||||||||||||||||||||||||||||
Interest rate lock commitments | 467 | 467 | — | 467 | — | ||||||||||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||||||||||||||
Deposits | $ | 3,638,428 | $ | 3,643,683 | $ | — | $ | — | $ | 3,643,683 | |||||||||||||||||||||||
Securities sold under repurchase agreements | 62,582 | 62,582 | — | — | 62,582 | ||||||||||||||||||||||||||||
Short-term borrowings | 75,000 | 75,000 | — | — | 75,000 | ||||||||||||||||||||||||||||
Long-term borrowings | 34,101 | 36,235 | — | — | 36,235 | ||||||||||||||||||||||||||||
Junior subordinated debt securities | 90,619 | 90,619 | — | — | 90,619 | ||||||||||||||||||||||||||||
Interest rate swaps | 23,522 | 23,522 | — | 23,522 | — | ||||||||||||||||||||||||||||
Forward sale contracts | 48 | 48 | — | 48 | — | ||||||||||||||||||||||||||||
(1) As reported in the Consolidated Balance Sheets |
Securities_AvailableforSale
Securities Available-for-Sale | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||||||||||
NOTE 4. SECURITIES AVAILABLE-FOR-SALE | |||||||||||||||||||||||||||||||||
The following table indicates the composition of the securities available-for-sale portfolio as of the dates presented: | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(dollars in thousands) | Amortized | Gross | Gross | Fair | Amortized | Gross | Gross | Fair | |||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | 236,739 | $ | 2,614 | $ | (1,955 | ) | $ | 237,398 | $ | 207,229 | $ | 4,890 | $ | -53 | $ | 212,066 | ||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | 44,474 | 607 | (204 | ) | 44,877 | 56,085 | 1,811 | — | 57,896 | ||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | 50,021 | 1,759 | (530 | ) | 51,250 | 47,279 | 3,344 | — | 50,623 | ||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | 31,524 | — | (844 | ) | 30,680 | 10,129 | 29 | — | 10,158 | ||||||||||||||||||||||||
Obligations of states and political subdivisions | 115,362 | 1,705 | (2,250 | ) | 114,817 | 107,911 | 4,908 | -52 | 112,767 | ||||||||||||||||||||||||
Debt Securities | 478,120 | 6,685 | (5,783 | ) | 479,022 | 428,633 | 14,982 | -105 | 443,510 | ||||||||||||||||||||||||
Marketable equity securities | 7,580 | 1,560 | — | 9,140 | 7,672 | 1,095 | -11 | 8,756 | |||||||||||||||||||||||||
Total | $ | 485,700 | $ | 8,245 | $ | (5,783 | ) | $ | 488,162 | $ | 436,305 | $ | 16,077 | $ | -116 | $ | 452,266 | ||||||||||||||||
Realized gains and losses on the sale of securities are determined using the specific-identification method. The following table shows the composition of gross and net realized gains and losses for the periods presented: | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Gross realized gains | $ | 3 | $ | 2,170 | $ | 5 | $ | 3,027 | |||||||||||||||||||||||||
Gross realized losses | — | — | — | 11 | |||||||||||||||||||||||||||||
Net Realized Gains | $ | 3 | $ | 2,170 | $ | 5 | $ | 3,016 | |||||||||||||||||||||||||
The following tables indicate the fair value and the age of gross unrealized losses by investment category as of the dates presented: | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
(dollars in thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | 115,358 | $ | (1,955 | ) | $ | — | $ | — | $ | 115,358 | $ | (1,955 | ) | |||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | 19,414 | (204 | ) | — | — | 19,414 | (204 | ) | |||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | 23,386 | (530 | ) | — | — | 23,386 | (530 | ) | |||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | 30,680 | (844 | ) | — | — | 30,680 | (844 | ) | |||||||||||||||||||||||||
Obligations of states and political subdivisions | 55,690 | (2,250 | ) | — | — | 55,690 | (2,250 | ) | |||||||||||||||||||||||||
Debt Securities | 244,528 | (5,783 | ) | — | — | 244,528 | (5,783 | ) | |||||||||||||||||||||||||
Marketable equity securities | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total Temporarily Impaired Securities | $ | 244,528 | $ | (5,783 | ) | $ | — | $ | — | $ | 244,528 | $ | (5,783 | ) | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
(dollars in thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | 11,370 | $ | (53 | ) | $ | — | $ | — | $ | 11,370 | $ | (53 | ) | |||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | — | — | — | — | — | — | |||||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | — | — | — | — | — | — | |||||||||||||||||||||||||||
Obligations of states and political subdivisions | 11,285 | (52 | ) | — | — | 11,285 | (52 | ) | |||||||||||||||||||||||||
Debt Securities | 22,655 | (105 | ) | — | — | 22,655 | (105 | ) | |||||||||||||||||||||||||
Marketable equity securities | 228 | (11 | ) | — | — | 228 | (11 | ) | |||||||||||||||||||||||||
Total Temporarily Impaired Securities | $ | 22,883 | $ | (116 | ) | $ | — | $ | — | $ | 22,883 | $ | (116 | ) | |||||||||||||||||||
We do not believe any individual unrealized loss as of September 30, 2013 represents an other than temporary impairment, or OTTI. As of September 30, 2013, the unrealized losses on thirty-seven debt securities were attributable to changes in interest rates and not related to the credit quality of these securities. All debt securities are determined to be investment grade and are paying principal and interest according to the contractual terms of the security. There were no unrealized losses on marketable equity securities as of September 30, 2013. We do not intend to sell and it is not likely that we will be required to sell any of the securities, referenced in the table above, in an unrealized loss position before recovery of their amortized cost. | |||||||||||||||||||||||||||||||||
Net unrealized gains of $1.6 million and $10.4 million were included in accumulated other comprehensive loss, net of tax, at September 30, 2013 and December 31, 2012. Gross unrealized gains of $5.4 million and $10.5 million, net of tax, were netted against gross unrealized losses of $3.8 million and $0.1 million, for these same periods. There were no unrealized losses reclassified into earnings to record OTTI during the period ended September 30, 2013 and minimal losses were reclassified into earnings to record OTTI during the period ended September 30, 2012. | |||||||||||||||||||||||||||||||||
The amortized cost and fair value of securities available-for-sale at September 30, 2013, by contractual maturity, are included in the table below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | |||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Amortized | Fair Value | |||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies, and obligations of states and political subdivisions | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 34,297 | $ | 34,537 | |||||||||||||||||||||||||||||
Due after one year through five years | 154,121 | 156,195 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 77,405 | 76,221 | |||||||||||||||||||||||||||||||
Due after ten years | 86,278 | 85,262 | |||||||||||||||||||||||||||||||
352,101 | 352,215 | ||||||||||||||||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | 44,474 | 44,877 | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | 50,021 | 51,250 | |||||||||||||||||||||||||||||||
Commercial Mortgage-backed securities of U.S. government corporations and agencies | 31,524 | 30,680 | |||||||||||||||||||||||||||||||
Debt Securities | 478,120 | 479,022 | |||||||||||||||||||||||||||||||
Marketable equity securities | 7,580 | 9,140 | |||||||||||||||||||||||||||||||
Total | $ | 485,700 | $ | 488,162 | |||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, securities with carrying values of $314.3 million and $307.5 million were pledged for various regulatory and legal requirements. |
Loans_and_Loans_Held_for_Sale
Loans and Loans Held for Sale | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||
Loans and Loans Held for Sale | NOTE 5. LOANS AND LOANS HELD FOR SALE | ||||||||||||||||||||||||||||||||
Loans are presented net of unearned income of $1.0 million and $0.2 million at September 30, 2013 and December 31, 2012. The following table indicates the composition of the loans as of the dates presented: | |||||||||||||||||||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,567,814 | $ | 1,452,133 | |||||||||||||||||||||||||||||
Commercial and industrial | 827,699 | 791,396 | |||||||||||||||||||||||||||||||
Commercial construction | 152,206 | 168,143 | |||||||||||||||||||||||||||||||
Total Commercial Loans | 2,547,719 | 2,411,672 | |||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Residential mortgage | 477,141 | 427,303 | |||||||||||||||||||||||||||||||
Home equity | 413,097 | 431,335 | |||||||||||||||||||||||||||||||
Installment and other consumer | 69,043 | 73,875 | |||||||||||||||||||||||||||||||
Consumer construction | 4,335 | 2,437 | |||||||||||||||||||||||||||||||
Total Consumer Loans | 963,616 | 934,950 | |||||||||||||||||||||||||||||||
Total Portfolio Loans | 3,511,335 | 3,346,622 | |||||||||||||||||||||||||||||||
Loans held for sale | 3,695 | 22,499 | |||||||||||||||||||||||||||||||
Total Loans | $ | 3,515,030 | $ | 3,369,121 | |||||||||||||||||||||||||||||
We attempt to limit our exposure to credit risk by diversifying our loan portfolio and actively managing concentrations. When concentrations exist in certain segments, we mitigate this risk by monitoring the relevant economic indicators and internal risk rating trends and through stress testing of the loans in these segments. Total commercial loans represented 73 percent of total portfolio loans at September 30, 2013 and 72 percent of total portfolio loans at December 31, 2012. Within our commercial portfolio, the commercial real estate, or CRE, and commercial construction portfolios combined comprise 68 percent of total commercial loans and 49 percent of total portfolio loans at September 30, 2013 and 67 percent of total commercial loans and 48 percent of total portfolio loans at December 31, 2012. Further segmentation of the CRE and commercial construction portfolios by industry and collateral type reveal no concentration in excess of nine percent of total loans at either September 30, 2013 or December 31, 2012. The majority of both commercial and consumer loans are made to businesses and individuals in Western Pennsylvania resulting in a geographic concentration. The conditions of the local and regional economies are monitored closely through publicly available data as well as information supplied by our customers. Management believes underwriting guidelines, active monitoring of economic conditions and ongoing review by credit administration mitigates the concentration risk present in the loan portfolio. Only the CRE and commercial construction portfolios combined have any significant out-of-state exposure with 22 percent of the combined portfolio and 11 percent of total loans being out-of-state loans at September 30, 2013 and 19 percent of the combined portfolio and 9 percent of total loans being out-of-state loans at December 31, 2012. Our CRE and commercial construction portfolios combined out-of-state exposure, excluding the contiguous states of Ohio, West Virginia, New York and Maryland, was 8.2 percent of the combined portfolio and 4.0 percent of total loans at September 30, 2013 and 8.4 percent of the combined portfolio and 4.1 percent of total loans at December 31, 2012. Management has the knowledge and experience in these markets which are identified as in market lending opportunities for our organization. | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings, or TDRs, are loans where we, for economic or legal reasons related to a borrower’s financial difficulties, grant a concession to the borrower that we would not otherwise grant. We strive to identify borrowers in financial difficulty early and work with them to modify the terms before their loan reaches nonaccrual status. These modified terms generally include extensions of maturity dates at a stated interest rate lower than the current market rate for a new loan with similar risk characteristics, reductions in contractual interest rates or principal deferment. While unusual, there may be instances of principal forgiveness. These modifications are generally for longer term periods that would not be considered insignificant. Additionally, we classify loans where the debt obligation has been discharged through a Chapter 7 Bankruptcy and not reaffirmed as TDRs. | |||||||||||||||||||||||||||||||||
We individually evaluate all substandard commercial loans that experienced a forbearance or change in terms agreement, as well as all substandard consumer and residential mortgage loans that entered into an agreement to modify their existing loan to determine if they should be designated as TDRs. All TDRs are considered to be impaired loans and will be reported as impaired loans for the remaining life of the loan, unless the restructuring agreement specifies an interest rate equal to or greater than the rate that would be accepted at the time of the restructuring for a new loan with comparable risk and it is fully expected that the remaining principal and interest will be collected according to the restructured agreement. Further, all impaired loans are reported as nonaccrual loans unless the loan is a TDR that has met the requirements to be returned to accruing status. TDRs can be returned to accruing status if the ultimate collectability of all contractual amounts due, according to the restructured agreement, is not in doubt and there is a period of a minimum of six months of satisfactory payment performance by the borrower either immediately before or after the restructuring. | |||||||||||||||||||||||||||||||||
The following table summarizes the restructured loans as of the dates presented: | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(dollars in thousands) | Accruing | Nonaccruing | Total | Accruing | Nonaccruing | Total | |||||||||||||||||||||||||||
TDRs | TDRs | TDRs | TDRs | TDRs | TDRs | ||||||||||||||||||||||||||||
Commercial real estate | $ | 15,619 | $ | 7,150 | $ | 22,769 | $ | 14,220 | $ | 9,584 | $ | 23,804 | |||||||||||||||||||||
Commercial and industrial | 7,595 | 1,926 | 9,521 | 8,270 | 939 | 9,209 | |||||||||||||||||||||||||||
Commercial construction | 5,574 | 9,652 | 15,226 | 11,734 | 5,324 | 17,058 | |||||||||||||||||||||||||||
Residential mortgage | 2,689 | 1,054 | 3,743 | 3,078 | 2,752 | 5,830 | |||||||||||||||||||||||||||
Home equity | 3,999 | 612 | 4,611 | 4,195 | 341 | 4,536 | |||||||||||||||||||||||||||
Installment and other consumer | 148 | — | 148 | 24 | — | 24 | |||||||||||||||||||||||||||
Total | $ | 35,624 | $ | 20,394 | $ | 56,018 | $ | 41,521 | $ | 18,940 | $ | 60,461 | |||||||||||||||||||||
We returned three TDRs to accruing status during the three months ended September 30, 2013 totaling $1.7 million and four TDRs totaling $1.9 million to accruing status during the nine months ended September 30, 2013. We did not return any TDRs to accruing status during the three months or nine months ended September 30, 2012. | |||||||||||||||||||||||||||||||||
The following tables present the restructured loans for the three and nine month periods ended September 30, 2013 and September 30, 2012: | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Pre-Modification | Post-Modification | Total Difference | |||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | in Recorded | ||||||||||||||||||||||||||||||
Recorded | Recorded | Investment | |||||||||||||||||||||||||||||||
Investment(1) | Investment(1) | ||||||||||||||||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||||||||||||
Interest rate reduction and maturity date extension | 2 | $ | 664 | $ | 644 | $ | (20 | ) | |||||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||||||||||
Principal deferral | 1 | 278 | 278 | — | |||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
Interest rate reduction | 1 | 54 | 54 | — | |||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||
Chapter 7 bankruptcy(2) | 8 | 772 | 767 | (5 | ) | ||||||||||||||||||||||||||||
Installment and other consumer | |||||||||||||||||||||||||||||||||
Chapter 7 bankruptcy(2) | 3 | 17 | 15 | (2 | ) | ||||||||||||||||||||||||||||
Total by Concession Type | |||||||||||||||||||||||||||||||||
Principal deferral | 1 | 278 | 278 | — | |||||||||||||||||||||||||||||
Interest rate reduction | 1 | 54 | 54 | — | |||||||||||||||||||||||||||||
Interest rate reduction and maturity date extension | 2 | 664 | 644 | (20 | ) | ||||||||||||||||||||||||||||
Chapter 7 bankruptcy(2) | 11 | 789 | 782 | (7 | ) | ||||||||||||||||||||||||||||
Total | 15 | $ | 1,785 | $ | 1,758 | $ | (27 | ) | |||||||||||||||||||||||||
(1) Excludes loans that were fully paid off or fully charged-off by period end. The pre-modification balance represents the balance outstanding prior to modification. The post-modification balance represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||
(2) Chapter 7 bankruptcy loans where the debt has been legally discharged through the bankruptcy court and not reaffirmed. | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Pre-Modification | Post-Modification | Total Difference | |||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | in Recorded | ||||||||||||||||||||||||||||||
Recorded | Recorded | Investment | |||||||||||||||||||||||||||||||
Investment(1) | Investment(1) | ||||||||||||||||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||||||||||||
Principal deferral | 3 | $ | 1,541 | $ | 1,288 | $ | (253 | ) | |||||||||||||||||||||||||
Interest rate reduction and maturity date extension | 2 | 664 | 644 | (20 | ) | ||||||||||||||||||||||||||||
Principal forgiveness(2) | 1 | 4,339 | 4,339 | — | |||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 7 | 258 | 255 | (3 | ) | ||||||||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||||||||||
Principal deferral | 2 | 670 | 665 | (5 | ) | ||||||||||||||||||||||||||||
Maturity date extension | 1 | 751 | 751 | — | |||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 1 | 3 | 3 | — | |||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
Principal deferral | 2 | 153 | 153 | — | |||||||||||||||||||||||||||||
Interest rate reduction | 1 | 54 | 54 | — | |||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 8 | 353 | 344 | (9 | ) | ||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||
Principal deferral | 1 | 174 | 45 | (129 | ) | ||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 31 | 1,420 | 1,407 | (13 | ) | ||||||||||||||||||||||||||||
Installment and other consumer | |||||||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 9 | 90 | 88 | (2 | ) | ||||||||||||||||||||||||||||
Total by Concession Type | |||||||||||||||||||||||||||||||||
Principal Deferral | 8 | 2,538 | 2,151 | (387 | ) | ||||||||||||||||||||||||||||
Interest rate reduction | 1 | 54 | 54 | — | |||||||||||||||||||||||||||||
Interest rate reduction and maturity date extension | 2 | 664 | 644 | (20 | ) | ||||||||||||||||||||||||||||
Principal forgiveness(2) | 1 | 4,339 | 4,339 | — | |||||||||||||||||||||||||||||
Maturity date extension | 1 | 751 | 751 | — | |||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 56 | 2,124 | 2,097 | (27 | ) | ||||||||||||||||||||||||||||
Total | 69 | $ | 10,470 | $ | 10,036 | $ | (434 | ) | |||||||||||||||||||||||||
(1) Excludes loans that were fully paid off or fully charged-off by period end. The pre-modification balance represents the balance outstanding prior to modification. The post-modification balance represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||
(2) This loan had debt forgiveness of $0.1 million to the customer; however, the loan was previously charged off to a balance below the actual contractual balance. | |||||||||||||||||||||||||||||||||
(3) Chapter 7 bankruptcy loans where the debt has been legally discharged through the bankruptcy court and not reaffirmed. | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Pre-Modification | Post-Modification | Total Difference | |||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | in Recorded | ||||||||||||||||||||||||||||||
Recorded | Recorded | Investment | |||||||||||||||||||||||||||||||
Investment(1) | Investment(1) | ||||||||||||||||||||||||||||||||
Commercial construction | |||||||||||||||||||||||||||||||||
Maturity date extension | 7 | $ | 2,905 | $ | 2,257 | $ | (648 | ) | |||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
Maturity date extension | 1 | 35 | 35 | — | |||||||||||||||||||||||||||||
Interest rate reduction | 1 | 32 | 32 | — | |||||||||||||||||||||||||||||
Total by Concession Type | |||||||||||||||||||||||||||||||||
Maturity date extension | 8 | 2,940 | 2,292 | (648 | ) | ||||||||||||||||||||||||||||
Interest rate reduction | 1 | 32 | 32 | — | |||||||||||||||||||||||||||||
Total | 9 | $ | 2,972 | $ | 2,324 | $ | (648 | ) | |||||||||||||||||||||||||
(1) Excludes loans that were fully paid off or fully charged-off by period end. The pre-modification balance represents the balance outstanding prior to modification. The post-modification balance represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Pre-Modification | Post-Modification | Total Difference | |||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | in Recorded | ||||||||||||||||||||||||||||||
Recorded | Recorded | Investment | |||||||||||||||||||||||||||||||
Investment(1) | Investment(1) | ||||||||||||||||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||||||||||||
Maturity date extension | 1 | $ | 160 | $ | 157 | $ | (3 | ) | |||||||||||||||||||||||||
Interest rate reduction | 1 | 575 | 565 | (10 | ) | ||||||||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||||||||||
Maturity date extension | 2 | 2,576 | 2,430 | (146 | ) | ||||||||||||||||||||||||||||
Commercial construction | |||||||||||||||||||||||||||||||||
Maturity date extension | 7 | 2,905 | 2,257 | (648 | ) | ||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
Maturity date extension | 1 | 475 | 460 | (15 | ) | ||||||||||||||||||||||||||||
Interest rate reduction | 2 | 67 | 67 | — | |||||||||||||||||||||||||||||
Total by Concession Type | |||||||||||||||||||||||||||||||||
Maturity date extension | 11 | 6,116 | 5,304 | (812 | ) | ||||||||||||||||||||||||||||
Interest rate reduction | 3 | 642 | 632 | (10 | ) | ||||||||||||||||||||||||||||
Total | 14 | $ | 6,758 | $ | 5,936 | $ | (822 | ) | |||||||||||||||||||||||||
(1) Excludes loans that were fully paid off or fully charged-off by period end. The pre-modification balance represents the balance outstanding prior to modification. The post-modification balance represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||
For the three months ended September 30, 2013, we modified three loans that were not considered to be TDRs, including two commercial and industrial, or C&I, loans totaling $0.8 million and a $0.9 million residential mortgage loan. For the nine months ended September 30, 2013, we modified eight loans that were not considered to be TDRs, including five C&I loans totaling $6.1 million, two commercial construction loans totaling $0.6 million and a $0.9 million residential mortgage loan. Modifications primarily represented insignificant delays in the timing of payments, concessions where we were adequately compensated through principal pay downs, fees or additional collateral or we concluded that no concession was granted. As of September 30, 2013 we have no commitments to lend additional funds on any TDRs. | |||||||||||||||||||||||||||||||||
Defaulted TDRs are defined as loans having a payment default of 90 days or more after the restructuring takes place. The following table is a summary of TDRs which defaulted during the three and nine month periods ended September 30, 2013 and 2012 that had been restructured within the last twelve months prior to defaulting: | |||||||||||||||||||||||||||||||||
Defaulted TDRs | |||||||||||||||||||||||||||||||||
For the | For the | For the | For the | ||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Recorded | Number of | Recorded | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||
Defaults | Investment | Defaults | Investment | Defaults | Investment | Defaults | Investment | ||||||||||||||||||||||||||
Commercial real estate | 1 | $ | 75 | 1 | $ | 270 | 1 | $ | 75 | 2 | $ | 329 | |||||||||||||||||||||
Commercial and Industrial | 1 | 435 | — | — | 1 | 435 | — | — | |||||||||||||||||||||||||
Commercial construction | — | — | — | — | — | — | 3 | 2,659 | |||||||||||||||||||||||||
Residential real estate | 4 | 450 | — | — | 7 | 514 | 3 | 2,359 | |||||||||||||||||||||||||
Home equity | 1 | 42 | — | — | 5 | 193 | — | — | |||||||||||||||||||||||||
Total | 7 | $ | 1,002 | 1 | $ | 270 | 14 | $ | 1,217 | 8 | $ | 5,347 | |||||||||||||||||||||
The following table is a summary of nonperforming assets as of the dates presented: | |||||||||||||||||||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Nonperforming Assets | |||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 16,005 | $ | 36,018 | |||||||||||||||||||||||||||||
Nonaccrual TDRs | 20,394 | 18,940 | |||||||||||||||||||||||||||||||
Total nonaccrual loans | 36,399 | 54,958 | |||||||||||||||||||||||||||||||
OREO | 460 | 911 | |||||||||||||||||||||||||||||||
Total Nonperforming Assets | $ | 36,859 | $ | 55,869 | |||||||||||||||||||||||||||||
OREO consists of 8 properties and is included in other assets in the Consolidated Balance Sheets. It is our policy to obtain OREO appraisals on an annual basis. |
Allowance_for_Loan_Losses
Allowance for Loan Losses | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | NOTE 6. ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||||||||||||||||||
We maintain an allowance for loan losses, or ALL, at a level determined to be adequate to absorb estimated probable credit losses inherent in the loan portfolio as of the balance sheet date. We develop and document a systematic ALL methodology based on the following portfolio segments: 1) CRE, 2) C&I, 3) Commercial Construction, 4) Consumer Real Estate and 5) Other Consumer. | |||||||||||||||||||||||||||||||||||||||||
The following are key risks within each portfolio segment: | |||||||||||||||||||||||||||||||||||||||||
CRE—Loans secured by commercial purpose real estate, including both owner occupied properties and investment properties for various purposes such as hotels, strip malls and apartments. Operations of the individual projects as well as global cash flows of the debtors are the primary sources of repayment for these loans. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the collateral type as well as the business prospects of the lessee, if the project is not owner occupied. | |||||||||||||||||||||||||||||||||||||||||
C&I—Loans made to operating companies or manufacturers for the purpose of production, operating capacity, accounts receivable, inventory or equipment financing. Cash flow from the operations of the company is the primary source of repayment for these loans. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the industry of the company. Collateral for these types of loans often do not have sufficient value in a distressed or liquidation scenario to satisfy the outstanding debt. | |||||||||||||||||||||||||||||||||||||||||
Commercial Construction—Loans made to finance construction of buildings or other structures, as well as to finance the acquisition and development of raw land for various purposes. While the risk of these loans is generally confined to the construction period, if there are problems, the project may not be complete, and as such, may not provide sufficient cash flow on its own to service the debt or have sufficient value in a liquidation to cover the outstanding principal. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the type of project and the experience and resources of the developer. | |||||||||||||||||||||||||||||||||||||||||
Consumer Real Estate—Loans secured by first and second liens such as home equity loans, home equity lines of credit and 1-4 family residences, including purchase money mortgages. The primary source of repayment for these loans is the income and assets of the borrower. The condition of the local economy, in particular the unemployment rate, is an important indicator of risk for this segment. The state of the local housing market can also have a significant impact on this segment because low demand and/or declining home values can limit the ability of borrowers to sell a property and satisfy the debt. | |||||||||||||||||||||||||||||||||||||||||
Other Consumer—Loans made to individuals that may be secured by assets other than 1-4 family residences, as well as unsecured loans. This segment includes auto loans, unsecured loans and lines and credit cards. The primary source of repayment for these loans is the income and assets of the borrower. The condition of the local economy, in particular the unemployment rate, is an important indicator of risk for this segment. The value of the collateral, if there is any, is less likely to be a source of repayment due to less certain collateral values. | |||||||||||||||||||||||||||||||||||||||||
We further assess risk within each portfolio segment by pooling loans with similar risk characteristics. For the commercial loan classes, the most important indicator of risk is the internally assigned risk rating, including pass, special mention and substandard. Consumer loans are pooled by type of collateral and first or second lien positions for consumer real estate loans. Historical loss rates are applied to these loan pools to determine the reserve for loans collectively evaluated for impairment. Management continuously monitors various credit quality indicators for both the commercial and consumer loan portfolios, including delinquency, nonperforming status and changes in risk ratings on a monthly basis. | |||||||||||||||||||||||||||||||||||||||||
We continuously monitor our ALL methodology to ensure that it is responsive to the current economic environment. Over the past year, the economic conditions within our markets have stabilized, and we have experienced significant improvement in our credit quality, including lower net charge-offs, lower delinquency, lower non-performing loans and lower special mention and substandard loans compared to December 31, 2012. Accordingly, the assumptions used within the ALL were reevaluated in the third quarter of 2013 to be responsive to the improved economic environment and the changes in our credit quality. | |||||||||||||||||||||||||||||||||||||||||
The ALL methodology for groups of loans collectively evaluated for impairment is comprised of both a quantitative and qualitative analysis. A key assumption in the quantitative component of the reserve is the loss emergence period, or LEP. The LEP is an estimate of the average amount of time from the point at which a loss is incurred on a loan to the point at which the loss is confirmed. In general, the LEP will be shorter in an economic slowdown or recession and longer during times of economic stability or growth, as customers are better able to delay loss confirmation after a potential loss event has occurred. Due to the recent improvement in economic conditions, we completed an internal study utilizing our loan charge-off history to recalibrate the LEPs of the commercial portfolio segments. Consistent with the improved economic conditions, the LEPs have lengthened, and as a result, we lengthened our LEP assumption for each of the commercial portfolio segments. We believe that the consumer portfolio segment LEPs have also lengthened as they are influenced by the same improvement in economic conditions that impacted the commercial portfolio segments. We therefore also lengthened the LEP assumption for the consumer portfolio segments in the third quarter of 2013. | |||||||||||||||||||||||||||||||||||||||||
The changes made to the ALL assumptions were applied prospectively and did not result in a material change to the total ALL at September 30, 2013. Lengthening the LEP does increase the historical loss rates and therefore the quantitative component of the ALL. We believe this makes the quantitative component of the ALL more reflective of inherent losses that exist within the loan portfolio, which resulted in a decrease in the qualitative component of the ALL. The changes to the LEPs also improved our insight into the inherent risk of the individual commercial portfolio segments. As the economic conditions have improved, our data indicates that the CRE segment has less inherent loss and that the C&I segment contains greater inherent loss. The ALL at September 30, 2013 reflects these changes within the CRE and C&I portfolio segments. | |||||||||||||||||||||||||||||||||||||||||
The following tables present the age analysis of past due loans segregated by class of loans as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Current | 30-59 Days | 60-89 Days | Nonaccrual | Total Past | Total Loans | |||||||||||||||||||||||||||||||||||
Past Due | Past Due | Due | |||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,549,998 | $ | 1,095 | $ | 242 | $ | 16,479 | $ | 17,816 | $ | 1,567,814 | |||||||||||||||||||||||||||||
Commercial and industrial | 820,425 | 3,100 | 277 | 3,897 | 7,274 | 827,699 | |||||||||||||||||||||||||||||||||||
Commercial construction | 140,551 | 1,971 | — | 9,684 | 11,655 | 152,206 | |||||||||||||||||||||||||||||||||||
Residential mortgage | 471,639 | 715 | 1,766 | 3,021 | 5,502 | 477,141 | |||||||||||||||||||||||||||||||||||
Home equity | 407,072 | 2,291 | 443 | 3,291 | 6,025 | 413,097 | |||||||||||||||||||||||||||||||||||
Installment and other consumer | 68,740 | 221 | 55 | 27 | 303 | 69,043 | |||||||||||||||||||||||||||||||||||
Consumer construction | 4,335 | — | — | — | — | 4,335 | |||||||||||||||||||||||||||||||||||
Totals | $ | 3,462,760 | $ | 9,393 | $ | 2,783 | $ | 36,399 | $ | 48,575 | $ | 3,511,335 | |||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Current | 30-59 Days | 60-89 Days | Nonaccrual | Total Past | Total Loans | |||||||||||||||||||||||||||||||||||
Past Due | Past Due | Due | |||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,418,934 | $ | 2,230 | $ | 413 | $ | 30,556 | $ | 33,199 | $ | 1,452,133 | |||||||||||||||||||||||||||||
Commercial and industrial | 780,315 | 4,409 | 237 | 6,435 | 11,081 | 791,396 | |||||||||||||||||||||||||||||||||||
Commercial construction | 150,823 | 10,542 | — | 6,778 | 17,320 | 168,143 | |||||||||||||||||||||||||||||||||||
Residential mortgage | 416,364 | 1,713 | 1,948 | 7,278 | 10,939 | 427,303 | |||||||||||||||||||||||||||||||||||
Home equity | 424,485 | 2,332 | 865 | 3,653 | 6,850 | 431,335 | |||||||||||||||||||||||||||||||||||
Installment and other consumer | 73,334 | 406 | 95 | 40 | 541 | 73,875 | |||||||||||||||||||||||||||||||||||
Consumer construction | 2,219 | — | — | 218 | 218 | 2,437 | |||||||||||||||||||||||||||||||||||
Totals | $ | 3,266,474 | $ | 21,632 | $ | 3,558 | $ | 54,958 | $ | 80,148 | $ | 3,346,622 | |||||||||||||||||||||||||||||
We continually monitor the commercial loan portfolio through an internal risk rating system. Loan risk ratings are assigned based upon the creditworthiness of the borrower and are reviewed on an ongoing basis according to our internal policies. Loans within the pass rating generally have a lower risk of loss than loans risk rated as special mention and substandard. | |||||||||||||||||||||||||||||||||||||||||
Our risk ratings are consistent with regulatory guidance and are as follows: | |||||||||||||||||||||||||||||||||||||||||
Pass—The loan is currently performing and is of high quality. | |||||||||||||||||||||||||||||||||||||||||
Special Mention—A special mention loan has potential weaknesses that warrant management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects or in the strength of our credit position at some future date. Economic and market conditions, beyond the borrower’s control, may in the future necessitate this classification. | |||||||||||||||||||||||||||||||||||||||||
Substandard—A substandard loan is not adequately protected by the net worth and/or paying capacity of the borrower or by the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses that jeopardize the liquidation of the debt. These loans are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||||||||||
The following tables summarize the recorded investment in commercial loan classes by internally assigned risk ratings as of the dates presented: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | % of | Commercial | % of | Commercial | % of | Total | % of | |||||||||||||||||||||||||||||||||
Real Estate | Total | and Industrial | Total | Construction | Total | Total | |||||||||||||||||||||||||||||||||||
Pass | $ | 1,458,589 | 93 | % | $ | 771,597 | 93.2 | % | $ | 119,120 | 78.3 | % | $ | 2,349,306 | 92.2 | % | |||||||||||||||||||||||||
Special mention | 51,849 | 3.3 | % | 34,238 | 4.1 | % | 16,755 | 11 | % | 102,842 | 4 | % | |||||||||||||||||||||||||||||
Substandard | 57,376 | 3.7 | % | 21,864 | 2.7 | % | 16,331 | 10.7 | % | 95,571 | 3.8 | % | |||||||||||||||||||||||||||||
Total | $ | 1,567,814 | 100 | % | $ | 827,699 | 100 | % | $ | 152,206 | 100 | % | $ | 2,547,719 | 100 | % | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | % of | Commercial | % of | Commercial | % of | Total | % of | |||||||||||||||||||||||||||||||||
Real Estate | Total | and Industrial | Total | Construction | Total | Total | |||||||||||||||||||||||||||||||||||
Pass | $ | 1,265,810 | 87.2 | % | $ | 718,070 | 90.7 | % | $ | 118,841 | 70.7 | % | $ | 2,102,721 | 87.2 | % | |||||||||||||||||||||||||
Special mention | 96,156 | 6.6 | % | 42,016 | 5.3 | % | 30,748 | 18.3 | % | 168,920 | 7 | % | |||||||||||||||||||||||||||||
Substandard | 90,167 | 6.2 | % | 31,310 | 4 | % | 18,554 | 11 | % | 140,031 | 5.8 | % | |||||||||||||||||||||||||||||
Total | $ | 1,452,133 | 100 | % | $ | 791,396 | 100 | % | $ | 168,143 | 100 | % | $ | 2,411,672 | 100 | % | |||||||||||||||||||||||||
We monitor the delinquent status of the consumer portfolio on a monthly basis. Loans are considered nonperforming when interest and principal are 90 days or more past due or management has determined that a material deterioration in the borrower’s financial condition exists. The risk of loss is generally highest for nonperforming loans. | |||||||||||||||||||||||||||||||||||||||||
The following tables indicate the recorded investment in consumer loan classes by performing and nonperforming status as of the dates presented: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Residential | % of | Home | % of | Installment | % of | Consumer | % of | Total | % of | |||||||||||||||||||||||||||||||
Mortgage | Total | Equity | Total | and other | Total | Construction | Total | Total | |||||||||||||||||||||||||||||||||
consumer | |||||||||||||||||||||||||||||||||||||||||
Performing | $ | 474,120 | 99.4 | % | $ | 409,806 | 99.2 | % | $ | 69,016 | 99.9 | % | $ | 4,335 | 100 | % | $ | 957,277 | 99.3 | % | |||||||||||||||||||||
Nonperforming | 3,021 | 0.6 | % | 3,291 | 0.8 | % | 27 | 0.1 | % | — | — | 6,339 | 0.7 | % | |||||||||||||||||||||||||||
Total | $ | 477,141 | 100 | % | $ | 413,097 | 100 | % | $ | 69,043 | 100 | % | $ | 4,335 | 100 | % | $ | 963,616 | 100 | % | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Residential | % of | Home | % of | Installment | % of | Consumer | % of | Total | % of | |||||||||||||||||||||||||||||||
Mortgage | Total | Equity | Total | and other | Total | Construction | Total | Total | |||||||||||||||||||||||||||||||||
consumer | |||||||||||||||||||||||||||||||||||||||||
Performing | $ | 420,025 | 98.3 | % | $ | 427,682 | 99.2 | % | $ | 73,835 | 99.9 | % | $ | 2,219 | 91.1 | % | $ | 923,761 | 98.8 | % | |||||||||||||||||||||
Nonperforming | 7,278 | 1.7 | % | 3,653 | 0.8 | % | 40 | 0.1 | % | 218 | 8.9 | % | 11,189 | 1.2 | % | ||||||||||||||||||||||||||
Total | $ | 427,303 | 100 | % | $ | 431,335 | 100 | % | $ | 73,875 | 100 | % | $ | 2,437 | 100 | % | $ | 934,950 | 100 | % | |||||||||||||||||||||
We individually evaluate all substandard and nonaccrual commercial loans greater than $0.5 million for impairment. Loans are considered to be impaired when based upon current information and events it is probable that we will be unable to collect all principal and interest payments due according to the original contractual terms of the loan agreement. All TDRs are considered to be impaired loans and will be reported as an impaired loan for the remaining life of the loan, unless the restructuring agreement specifies an interest rate equal to or greater than the rate that would be accepted at the time of the restructuring for a new loan with comparable risk and it is expected that the remaining principal and interest will be fully collected according to the restructured agreement. For all TDRs, regardless of size, as well as all other impaired loans, we conduct further analysis to determine the probable loss and assign a specific reserve to the loan if deemed appropriate. | |||||||||||||||||||||||||||||||||||||||||
The following table presents investments in loans considered to be impaired and related information on those impaired loans as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Recorded | Unpaid | Related | Unpaid | Related | ||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Principal | Allowance | ||||||||||||||||||||||||||||||||||||
Balance | Investment | Balance | |||||||||||||||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,014 | $ | 2,291 | $ | 64 | $ | 6,138 | $ | 6,864 | $ | 1,226 | |||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | 1,864 | 2,790 | 1,002 | |||||||||||||||||||||||||||||||||||
Commercial construction | 5,929 | 5,929 | 3,139 | 799 | 896 | 3 | |||||||||||||||||||||||||||||||||||
Consumer real estate | 98 | 98 | 56 | — | — | — | |||||||||||||||||||||||||||||||||||
Other consumer | 34 | 34 | 19 | — | — | — | |||||||||||||||||||||||||||||||||||
Total with a Related Allowance Recorded | 7,075 | 8,352 | 3,278 | 8,801 | 10,550 | 2,231 | |||||||||||||||||||||||||||||||||||
Without a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 27,309 | 38,351 | — | 33,856 | 45,953 | — | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 10,128 | 12,406 | — | 11,419 | 12,227 | — | |||||||||||||||||||||||||||||||||||
Commercial construction | 9,329 | 17,873 | — | 17,713 | 27,486 | — | |||||||||||||||||||||||||||||||||||
Consumer real estate | 8,256 | 9,267 | — | 10,827 | 12,025 | — | |||||||||||||||||||||||||||||||||||
Other consumer | 114 | 119 | — | 25 | 25 | — | |||||||||||||||||||||||||||||||||||
Total without a Related Allowance Recorded | 55,136 | 78,016 | — | 73,840 | 97,716 | — | |||||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 28,323 | 40,642 | 64 | 39,994 | 52,817 | 1,226 | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 10,128 | 12,406 | — | 13,283 | 15,017 | 1,002 | |||||||||||||||||||||||||||||||||||
Commercial construction | 15,258 | 23,802 | 3,139 | 18,512 | 28,382 | 3 | |||||||||||||||||||||||||||||||||||
Consumer real estate | 8,354 | 9,365 | 56 | 10,827 | 12,025 | — | |||||||||||||||||||||||||||||||||||
Other consumer | 148 | 153 | 19 | 25 | 25 | — | |||||||||||||||||||||||||||||||||||
Total | $ | 62,211 | $ | 86,368 | $ | 3,278 | $ | 82,641 | $ | 108,266 | $ | 2,231 | |||||||||||||||||||||||||||||
As of September 30, 2013, CRE loans of $28.3 million comprised 46 percent of the total impaired loans of $62.2 million. These impaired loans are collateralized primarily by commercial real estate properties such as retail or strip malls, office buildings and various other types of commercial purpose properties. These loans are generally considered collateral dependent and charge-offs are recorded when a confirmed loss exists. Approximately $13.5 million of charge-offs have been recorded relating to these CRE loans over the life of these loans. It is our policy to order appraisals on an annual basis on impaired loans or sooner if facts and circumstances warrant. As of September 30, 2013, an estimated fair value less cost to sell of approximately $41.6 million existed for CRE impaired loans. We have current appraisals on all but $0.3 million of the $28.3 million of impaired CRE loans. | |||||||||||||||||||||||||||||||||||||||||
The following tables summarize investments in loans considered to be impaired and related information on those impaired loans for the periods presented: | |||||||||||||||||||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,014 | $ | — | $ | 6,430 | $ | 15 | |||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | 784 | (9 | ) | ||||||||||||||||||||||||||||||||||||
Commercial construction | 5,929 | 49 | 4,236 | 19 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 100 | 2 | — | — | |||||||||||||||||||||||||||||||||||||
Other consumer | 35 | 1 | — | — | |||||||||||||||||||||||||||||||||||||
Total with a Related Allowance Recorded | 7,078 | 52 | 11,450 | 25 | |||||||||||||||||||||||||||||||||||||
Without a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 27,489 | 271 | 38,962 | 268 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 10,995 | 68 | 13,238 | 101 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 9,768 | 46 | 23,349 | 113 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 8,349 | 114 | 5,729 | 9 | |||||||||||||||||||||||||||||||||||||
Other consumer | 119 | 1 | — | — | |||||||||||||||||||||||||||||||||||||
Total without a Related Allowance Recorded | 56,720 | 500 | 81,278 | 491 | |||||||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 28,503 | 271 | 45,392 | 283 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 10,995 | 68 | 14,022 | 92 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 15,697 | 95 | 27,585 | 132 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 8,449 | 116 | 5,729 | 9 | |||||||||||||||||||||||||||||||||||||
Other consumer | 154 | 2 | — | — | |||||||||||||||||||||||||||||||||||||
Total | $ | 63,798 | $ | 552 | $ | 92,728 | $ | 516 | |||||||||||||||||||||||||||||||||
For the Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 2,526 | $ | 5 | $ | 5,629 | $ | 209 | |||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | 1,813 | — | |||||||||||||||||||||||||||||||||||||
Commercial construction | 1,976 | 49 | 5,661 | 49 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 62 | — | — | — | |||||||||||||||||||||||||||||||||||||
Other consumer | 21 | 3 | — | — | |||||||||||||||||||||||||||||||||||||
Total with a Related Allowance Recorded | 4,585 | 57 | 13,103 | 258 | |||||||||||||||||||||||||||||||||||||
Without a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 29,951 | 330 | 43,332 | 915 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 11,964 | 203 | 11,725 | 265 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 14,492 | 271 | 22,926 | 450 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 8,912 | 693 | 6,489 | 70 | |||||||||||||||||||||||||||||||||||||
Other consumer | 110 | 4 | — | — | |||||||||||||||||||||||||||||||||||||
Total without a Related Allowance Recorded | 65,429 | 1,501 | 84,472 | 1,700 | |||||||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 32,477 | 335 | 48,961 | 1,124 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 11,964 | 203 | 13,538 | 265 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 16,468 | 320 | 28,587 | 499 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 8,974 | 693 | 6,489 | 70 | |||||||||||||||||||||||||||||||||||||
Other consumer | 131 | 7 | — | — | |||||||||||||||||||||||||||||||||||||
Total | $ | 70,014 | $ | 1,558 | $ | 97,575 | $ | 1,958 | |||||||||||||||||||||||||||||||||
The following tables detail activity in the ALL for the periods presented: | |||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | Commercial and | Commercial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||
Real Estate | Industrial | Construction | Real Estate | Consumer | Loans | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 23,484 | $ | 9,123 | $ | 5,812 | $ | 6,655 | $ | 1,031 | $ | 46,105 | |||||||||||||||||||||||||||||
Charge-offs | (840 | ) | (759 | ) | (480 | ) | (585 | ) | (327 | ) | (2,991 | ) | |||||||||||||||||||||||||||||
Recoveries | 617 | 167 | 481 | 122 | 63 | 1,450 | |||||||||||||||||||||||||||||||||||
Net (Charge-offs)/ Recoveries | (223 | ) | (592 | ) | 1 | (463 | ) | (264 | ) | (1,541 | ) | ||||||||||||||||||||||||||||||
Provision for loan losses | (5,572 | ) | 6,268 | 2,186 | 185 | 352 | 3,419 | ||||||||||||||||||||||||||||||||||
Balance at End of Period | $ | 17,689 | $ | 14,799 | $ | 7,999 | $ | 6,377 | $ | 1,119 | $ | 47,983 | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | Commercial and | Commercial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||
Real Estate | Industrial | Construction | Real Estate | Consumer | Loans | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 24,696 | $ | 11,874 | $ | 5,938 | $ | 3,401 | $ | 780 | $ | 46,689 | |||||||||||||||||||||||||||||
Charge-offs | (2,344 | ) | (520 | ) | (970 | ) | (268 | ) | (278 | ) | (4,380 | ) | |||||||||||||||||||||||||||||
Recoveries | 570 | 609 | 395 | 18 | 73 | 1,665 | |||||||||||||||||||||||||||||||||||
Net (Charge-offs)/ Recoveries | (1,774 | ) | 89 | (575 | ) | (250 | ) | (205 | ) | (2,715 | ) | ||||||||||||||||||||||||||||||
Provision for loan losses | 1,283 | (3,216 | ) | 3,162 | 752 | 324 | 2,305 | ||||||||||||||||||||||||||||||||||
Balance at End of Period | $ | 24,205 | $ | 8,747 | $ | 8,525 | $ | 3,903 | $ | 899 | $ | 46,279 | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | Commercial and | Commercial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||
Real Estate | Industrial | Construction | Real Estate | Consumer | Loans | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 25,246 | $ | 7,759 | $ | 7,500 | $ | 5,058 | $ | 921 | $ | 46,484 | |||||||||||||||||||||||||||||
Charge-offs | (3,649 | ) | (2,682 | ) | (923 | ) | (1,822 | ) | (978 | ) | (10,054 | ) | |||||||||||||||||||||||||||||
Recoveries | 2,939 | 457 | 536 | 630 | 242 | 4,804 | |||||||||||||||||||||||||||||||||||
Net (Charge-offs)/ Recoveries | (710 | ) | (2,225 | ) | (387 | ) | (1,192 | ) | (736 | ) | (5,250 | ) | |||||||||||||||||||||||||||||
Provision for loan losses | (6,847 | ) | 9,265 | 886 | 2,511 | 934 | 6,749 | ||||||||||||||||||||||||||||||||||
Balance at End of Period | $ | 17,689 | $ | 14,799 | $ | 7,999 | $ | 6,377 | $ | 1,119 | $ | 47,983 | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | Commercial and | Commercial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||
Real Estate | Industrial | Construction | Real Estate | Consumer | Loans | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 29,804 | $ | 11,274 | $ | 3,703 | $ | 3,166 | $ | 894 | $ | 48,841 | |||||||||||||||||||||||||||||
Charge-offs | (7,918 | ) | (4,488 | ) | (9,261 | ) | (1,228 | ) | (756 | ) | (23,651 | ) | |||||||||||||||||||||||||||||
Recoveries | 748 | 857 | 494 | 127 | 263 | 2,489 | |||||||||||||||||||||||||||||||||||
Net (Charge-offs)/ Recoveries | (7,170 | ) | (3,631 | ) | (8,767 | ) | (1,101 | ) | (493 | ) | (21,162 | ) | |||||||||||||||||||||||||||||
Provision for loan losses | 1,571 | 1,104 | 13,589 | 1,838 | 498 | 18,600 | |||||||||||||||||||||||||||||||||||
Balance at End of Period | $ | 24,205 | $ | 8,747 | $ | 8,525 | $ | 3,903 | $ | 899 | $ | 46,279 | |||||||||||||||||||||||||||||
The following tables present the ALL and recorded investments in loans by category as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | Portfolio Loans | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Individually | Collectively | Total | Individually | Collectively | Total | |||||||||||||||||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 64 | $ | 17,625 | $ | 17,689 | $ | 28,323 | $ | 1,539,491 | $ | 1,567,814 | |||||||||||||||||||||||||||||
Commercial and industrial | — | 14,799 | 14,799 | 10,128 | 817,571 | 827,699 | |||||||||||||||||||||||||||||||||||
Commercial construction | 3,139 | 4,860 | 7,999 | 15,258 | 136,948 | 152,206 | |||||||||||||||||||||||||||||||||||
Consumer real estate | 56 | 6,321 | 6,377 | 8,354 | 886,219 | 894,573 | |||||||||||||||||||||||||||||||||||
Other consumer | 19 | 1,100 | 1,119 | 148 | 68,895 | 69,043 | |||||||||||||||||||||||||||||||||||
Total | $ | 3,278 | $ | 44,705 | $ | 47,983 | $ | 62,211 | $ | 3,449,124 | $ | 3,511,335 | |||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | Portfolio Loans | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Individually | Collectively | Total | Individually | Collectively | Total | |||||||||||||||||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,226 | $ | 24,020 | $ | 25,246 | $ | 39,994 | $ | 1,412,139 | $ | 1,452,133 | |||||||||||||||||||||||||||||
Commercial and industrial | 1,002 | 6,757 | 7,759 | 13,283 | 778,113 | 791,396 | |||||||||||||||||||||||||||||||||||
Commercial construction | 3 | 7,497 | 7,500 | 18,512 | 149,631 | 168,143 | |||||||||||||||||||||||||||||||||||
Consumer real estate | — | 5,058 | 5,058 | 10,827 | 850,248 | 861,075 | |||||||||||||||||||||||||||||||||||
Other consumer | — | 921 | 921 | 25 | 73,850 | 73,875 | |||||||||||||||||||||||||||||||||||
Total | $ | 2,231 | $ | 44,253 | $ | 46,484 | $ | 82,641 | $ | 3,263,981 | $ | 3,346,622 | |||||||||||||||||||||||||||||
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |||||||||||||||||
Derivative Instruments and Hedging Activities | NOTE 7. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | ||||||||||||||||
Interest Rate Swaps | |||||||||||||||||
Interest rate swaps are contracts in which a series of interest rate flows (fixed and variable) are exchanged over a prescribed period. The notional amounts on which the interest payments are based are not exchanged. In some cases, we utilize interest rate swaps for commercial loans. These derivative positions relate to transactions in which we enter into an interest rate swap with a customer while at the same time entering into an offsetting interest rate swap with another financial institution. In connection with each transaction, we agree to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on a same notional amount at a fixed rate. At the same time, we agree to pay another financial institution the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. The transaction allows our customer to effectively convert a variable rate loan to a fixed rate loan while we receive a variable yield. These agreements could have floors or caps on the contracted interest rates. | |||||||||||||||||
Pursuant to our agreements with various financial institutions, we may receive collateral or may be required to post collateral based upon mark-to-market positions. Beyond unsecured threshold levels, collateral in the form of cash or securities may be made available to counterparties of swap transactions. Based upon our current positions and related future collateral requirements relating to them, we believe any effect on its cash flow or liquidity position to be immaterial. | |||||||||||||||||
Derivatives contain an element of credit risk, the possibility that we will incur a loss because a counterparty, which may be a financial institution or a customer, fails to meet its contractual obligations. All derivative contracts with financial institutions may be executed only with counterparties approved by our Asset and Liability Committee, or ALCO, and derivatives with customers may only be executed with customers within collateral coverage and credit exposure limits. Interest rate swaps are considered derivatives, but are not accounted for using hedge accounting. As such, changes in the fair value of the derivatives are recorded in current, earnings and included in other noninterest income in the Consolidated Statements of Comprehensive Income. | |||||||||||||||||
Interest Rate Lock Commitments and Forward Sale Contracts | |||||||||||||||||
In the normal course of business, we sell originated mortgage loans into the secondary mortgage loan market. We offer interest rate lock commitments to potential borrowers. Whenever a customer requests these products, a mortgage originator quotes a secondary market rate guaranteed for that day by the investor. The commitments are generally for 60 days and guarantee a specified interest rate for a loan if underwriting standards are met, but the commitment does not obligate the potential borrower to close on the loan. Accordingly, some commitments expire prior to becoming loans. However, if the borrower accepts the guaranteed rate, we can encounter pricing risk if interest rates increase significantly before the loan can be closed and sold. We may utilize forward sale contracts in order to mitigate this pricing risk. The rate lock is executed between the mortgagee and us, and generally these rate locks are bundled. A forward sale contract is then executed between us and the investor. Both the interest rate lock commitment bundle and the corresponding forward sale contract are considered derivatives, but are not accounted for using hedge accounting. As such, changes in the fair value of the derivatives during the commitment period are recorded in current earnings and included in mortgage banking in the Consolidated Statements of Comprehensive Income. | |||||||||||||||||
The following table indicates the amounts representing the value of derivative assets and derivative liabilities as of the dates presented: | |||||||||||||||||
Derivatives | Derivatives | ||||||||||||||||
(included in Other Assets) | (included in Other Liabilities) | ||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | September 30, 2013 | December 31, 2012 | |||||||||||||
Derivatives not Designated as Hedging Instruments | |||||||||||||||||
Interest Rate Swap Contracts—Commercial Loans | |||||||||||||||||
Fair value | $ | 16,084 | $ | 23,748 | $ | 16,025 | $ | 23,522 | |||||||||
Notional amount | 257,678 | 227,532 | 257,678 | 227,532 | |||||||||||||
Collateral posted | — | — | 12,978 | 19,595 | |||||||||||||
Interest Rate Lock Commitments—Mortgage Loans | |||||||||||||||||
Fair value | 206 | 467 | — | — | |||||||||||||
Notional amount | 4,670 | 14,287 | — | — | |||||||||||||
Forward Sale Contracts—Mortgage Loans | |||||||||||||||||
Fair value | — | — | 162 | 48 | |||||||||||||
Notional amount | — | — | 7,425 | 14,100 | |||||||||||||
Presenting offsetting derivatives that are subject to legally enforceable netting arrangements with the same party is permitted. For example, we may have a derivative asset as well as a derivative liability with the same counterparty to a swap transaction and are permitted to offset the asset position and the liability position resulting in a net presentation. | |||||||||||||||||
The following table indicates the gross amounts of derivative assets and derivative liabilities, the amounts offset, and the carrying values in the Consolidated Balance Sheets as of the dates presented: | |||||||||||||||||
Derivatives | Derivatives | ||||||||||||||||
(included in Other Assets) | (included in Other Liabilities) | ||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | September 30, 2013 | December 31, 2012 | |||||||||||||
Derivatives not Designated as Hedging Instruments | |||||||||||||||||
Gross amounts recognized | $ | 16,445 | $ | 24,262 | $ | 16,386 | $ | 24,036 | |||||||||
Gross amounts offset | (361 | ) | (514 | ) | (361 | ) | (514 | ) | |||||||||
Net amounts presented in the Consolidated Balance Sheets | 16,084 | 23,748 | 16,025 | 23,522 | |||||||||||||
Gross amounts not offset(1) | — | — | (12,978 | ) | (19,595 | ) | |||||||||||
Net Amount | $ | 16,084 | $ | 23,748 | $ | 3,047 | $ | 3,927 | |||||||||
(1) Amounts represent posted collateral. | |||||||||||||||||
The following table indicates the gain or loss recognized in income on derivatives for the periods presented: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives not Designated as Hedging Instruments | |||||||||||||||||
Interest rate swap contracts—commercial loans | $ | (10 | ) | $ | (19 | ) | $ | (166 | ) | $ | 164 | ||||||
Interest rate lock commitments—mortgage loans | 231 | 257 | (261 | ) | 629 | ||||||||||||
Forward sale contracts—mortgage loans | (519 | ) | (101 | ) | (114 | ) | (212 | ) | |||||||||
Total Derivative (Loss) Gain | $ | (298 | ) | $ | 137 | $ | (541 | ) | $ | 581 | |||||||
Borrowings
Borrowings | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||
Borrowings | NOTE 8. BORROWINGS | ||||||||||||||||
Short-term borrowings are for terms under one year and were comprised of retail repurchase agreements, or REPOs, and Federal Home Loan Bank, or FHLB, advances. We define repurchase agreements with our local retail customers as retail REPOs. Securities pledged as collateral under these REPO financing arrangements cannot be sold or repledged by the secured party and are therefore accounted for as a secured borrowing. FHLB advances are for various terms secured by a blanket lien on residential mortgages and other loans secured by real estate. | |||||||||||||||||
Long-term borrowings are for original terms greater than one year and are comprised of FHLB advances and junior subordinated debt securities. Long-term FHLB advances have the same collateral requirements as their short-term equivalents. | |||||||||||||||||
We had total long-term borrowings outstanding of $19.1 million at a fixed rate and $48.7 million at a variable rate at September 30, 2013, excluding a capital lease of $0.2 million which is classified as long-term borrowings. | |||||||||||||||||
Information pertaining to borrowings is summarized in the table below as of the dates presented: | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
(dollars in thousands) | Balance | Weighted | Balance | Weighted | |||||||||||||
Average Rate | Average Rate | ||||||||||||||||
Short-term borrowings | |||||||||||||||||
Securities sold under repurchase agreements | $ | 33,290 | 0.01 | % | $ | 62,582 | 0.2 | % | |||||||||
Short-term borrowings | 175,000 | 0.28 | % | 75,000 | 0.19 | % | |||||||||||
Total short-term borrowings | 208,290 | 0.24 | % | 137,582 | 0.19 | % | |||||||||||
Long-term borrowings | |||||||||||||||||
Junior subordinated debt securities | 45,619 | 2.71 | % | 90,619 | 3.01 | % | |||||||||||
Other long-term borrowings | 22,390 | 3.01 | % | 34,101 | 3.17 | % | |||||||||||
Total long-term borrowings | 68,009 | 2.81 | % | 124,720 | 3.05 | % | |||||||||||
Total Borrowings | $ | 276,299 | 0.87 | % | $ | 262,302 | 1.55 | % | |||||||||
We had total borrowings at September 30, 2013 and December 31, 2012 at the FHLB of Pittsburgh of $197.2 million and $108.9 million. This consisted of $22.2 in long-term borrowings and $175.0 in short-term borrowings at September 30, 2013. At September 30, 2013, we had a maximum borrowing capacity of $1.5 billion with a remaining borrowing availability of $1.3 billion with the FHLB of Pittsburgh. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | |||||||||
Commitments and Contingencies | NOTE 9. COMMITMENTS AND CONTINGENCIES | ||||||||
Commitments | |||||||||
In the normal course of business, we offer off-balance sheet credit arrangements to enable our customers to meet their financing objectives. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. Our exposure to credit loss, in the event a customer does not satisfy the terms of their agreement, equals the contractual amount of the obligation less the value of any collateral. We apply the same credit policies in making commitments and standby letters of credit that are used for the underwriting of loans to customers. Commitments generally have fixed expiration dates, annual renewals or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon; the total commitment amounts do not necessarily represent future cash requirements. Our allowance for unfunded commitments totaled $3.1 million at September 30, 2013 and $3.0 million at December 31, 2012. The increase in the allowance for unfunded commitments is due to an increase in lending commitments. The allowance for unfunded commitments is included in other liabilities in the Consolidated Balance Sheets. | |||||||||
Estimates of the fair value of these off-balance sheet items were not made because of the short-term nature of these arrangements and the credit standing of the counterparties. | |||||||||
The following table sets forth the commitments and letters of credit as of the dates presented: | |||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||
Commitments to extend credit | $ | 1,042,572 | $ | 874,137 | |||||
Standby letters of credit | 80,653 | 95,399 | |||||||
Total | $ | 1,123,225 | $ | 969,536 | |||||
Litigation | |||||||||
In the normal course of business, we are subject to various legal and administrative proceedings and claims. While any type of litigation contains a level of uncertainty, we believe that the outcome of such proceedings or claims will not have a material adverse effect on our consolidated financial position. | |||||||||
Other_Comprehensive_Income
Other Comprehensive Income | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||
Other Comprehensive Income | NOTE 10. OTHER COMPREHENSIVE INCOME | ||||||||||||||||||||||||
The following tables show the tax effects of the components of other comprehensive income for the periods presented: | |||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||
(dollars in thousands) | Pre-Tax | Tax | Net of Tax | Pre-Tax | Tax | Net of Tax | |||||||||||||||||||
Amount | (Expense) | Amount | Amount | (Expense) | Amount | ||||||||||||||||||||
Benefit | Benefit | ||||||||||||||||||||||||
Change in unrealized gains/losses on securities available-for-sale | $ | 335 | $ | (117 | ) | $ | 218 | $ | 4,373 | $ | (1,530 | ) | $ | 2,843 | |||||||||||
Reclassification adjustment for net (gains)/losses on securities available-for-sale included in net income(1) | (3 | ) | 1 | (2 | ) | (2,170 | ) | 760 | (1,410 | ) | |||||||||||||||
Adjustment to funded status of employee benefit plans | 631 | (220 | ) | 411 | 750 | (264 | ) | 486 | |||||||||||||||||
Other Comprehensive Income (Loss) | $ | 963 | $ | (336 | ) | $ | 627 | $ | 2,953 | $ | (1,034 | ) | $ | 1,919 | |||||||||||
(1) Reclassification adjustments are comprised of realized security gains. The gains have been reclassified out of accumulated other comprehensive income and have affected certain lines in the consolidated statement of comprehensive income as follows; the pre-tax amount is included in securities gains-net, the tax expense amount is included in the provision for income taxes and the net of tax amount is included in net income. | |||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||
(dollars in thousands) | Pre-Tax | Tax | Net of Tax | Pre-Tax | Tax | Net of Tax | |||||||||||||||||||
Amount | (Expense) | Amount | Amount | (Expense) | Amount | ||||||||||||||||||||
Benefit | Benefit | ||||||||||||||||||||||||
Change in unrealized gains/losses on securities available-for-sale | $ | (13,494 | ) | $ | 4,723 | $ | (8,771 | ) | $ | 5,188 | $ | (1,815 | ) | $ | 3,373 | ||||||||||
Reclassification adjustment for net (gains)/losses on securities available-for-sale included in net income(1) | (5 | ) | 2 | (3 | ) | (3,016 | ) | 1,056 | (1,960 | ) | |||||||||||||||
Adjustment to funded status of employee benefit plans | 1,827 | (639 | ) | 1,188 | 1,887 | (662 | ) | 1,225 | |||||||||||||||||
Other Comprehensive Income (Loss) | $ | (11,672 | ) | $ | 4,086 | $ | (7,586 | ) | $ | 4,059 | $ | (1,421 | ) | $ | 2,638 | ||||||||||
(1) Reclassification adjustments are comprised of realized security gains. The gains have been reclassified out of accumulated other comprehensive income and have affected certain lines in the consolidated statement of comprehensive income as follows; the pre-tax amount is included in securities gains-net, the tax expense amount is included in the provision for income taxes and the net of tax amount is included in net income. | |||||||||||||||||||||||||
Employee_Benefits
Employee Benefits | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | |||||||||||||||||
Employee Benefits | NOTE 11. EMPLOYEE BENEFITS | ||||||||||||||||
We maintain a defined benefit pension plan, or Plan, covering substantially all employees hired prior to January 1, 2008. The benefits are based on years of service and the employee’s compensation for the highest five consecutive years in the last ten years. Contributions are intended to provide for benefits attributed to employee service to date and for those benefits expected to be earned in the future. At this time, we are not required to make a cash contribution to the Plan in 2013. We contributed $3.1 million to the Plan in December 2012. The expected long-term rate of return on plan assets is 8.00 percent. For the current year there are no changes to the Plan. | |||||||||||||||||
The following table summarizes the components of net periodic pension cost and other changes in plan assets and benefit obligation recognized in other comprehensive gain/loss for the periods presented: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Components of Net Periodic Pension Cost | |||||||||||||||||
Service cost—benefits earned during the period | $ | 659 | $ | 636 | $ | 2,075 | $ | 2,090 | |||||||||
Interest cost on projected benefit obligation | 997 | 1,117 | 2,989 | 3,269 | |||||||||||||
Expected return on plan assets | (1,526 | ) | (1,364 | ) | (4,656 | ) | (4,172 | ) | |||||||||
Amortization of prior service cost (credit) | (34 | ) | (34 | ) | (102 | ) | (99 | ) | |||||||||
Recognized net actuarial loss | 642 | 711 | 1,818 | 1,852 | |||||||||||||
Net Periodic Pension Expense | $ | 738 | $ | 1,066 | $ | 2,124 | $ | 2,940 | |||||||||
Segments
Segments | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||
Segments | NOTE 12. SEGMENTS | ||||||||||||||||||||
We manage three reportable operating segments including Community Banking, Insurance and Wealth Management. | |||||||||||||||||||||
• | Our Community Banking segment offers services which include accepting time and demand deposit accounts, originating commercial and consumer loans and providing letters of credit and credit card services. | ||||||||||||||||||||
• | Our Insurance segment includes a full-service insurance agency offering commercial property and casualty insurance, group life and health coverage, employee benefit solutions and personal insurance lines. | ||||||||||||||||||||
• | Our Wealth Management segment offers discount brokerage services, services as executor and trustee under wills and deeds, guardian and custodian of employee benefits and other trust and brokerage services, as well as a registered investment advisor that manages private investment accounts for individuals and institutions. | ||||||||||||||||||||
The following table represents total assets by reportable operating segment as of the dates presented: | |||||||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||
Community Banking | $ | 4,579,528 | $ | 4,518,799 | |||||||||||||||||
Insurance | 7,358 | 6,697 | |||||||||||||||||||
Wealth Management | 1,242 | 1,206 | |||||||||||||||||||
Total Assets | $ | 4,588,128 | $ | 4,526,702 | |||||||||||||||||
The following tables provide financial information for our three segments for the three and nine month periods ended September 30, 2013 and 2012. The financial results of the business segments include allocations for shared services based on an internal analysis that supports line of business performance measurement. Shared services include expenses such as employee benefits, occupancy expense, computer support and corporate overhead. Even with these allocations, the financial results are not necessarily indicative of the business segments’ financial condition and results of operations if they existed as independent entities. | |||||||||||||||||||||
The information provided under the caption “Eliminations” represents operations not considered to be reportable segments and/or general operating expenses and eliminations and adjustments, which are necessary for purposes of reconciling to the Consolidated Financial Statements. | |||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
(dollars in thousands) | Community | Insurance | Wealth | Eliminations | Consolidated | ||||||||||||||||
Banking | Management | ||||||||||||||||||||
Interest income | $ | 38,540 | $ | — | $ | 137 | $ | (96 | ) | $ | 38,581 | ||||||||||
Interest expense | 3,949 | — | — | (642 | ) | 3,307 | |||||||||||||||
Net interest income (expense) | 34,591 | — | 137 | 546 | 35,274 | ||||||||||||||||
Provision for loan losses | 3,419 | — | — | — | 3,419 | ||||||||||||||||
Noninterest income | 8,321 | 1,459 | 2,744 | 18 | 12,542 | ||||||||||||||||
Noninterest expense | 22,252 | 1,357 | 2,379 | 741 | 26,729 | ||||||||||||||||
Depreciation expense | 816 | 12 | 7 | — | 835 | ||||||||||||||||
Amortization of intangible assets | 355 | 13 | 11 | — | 379 | ||||||||||||||||
Provision (benefit) for income taxes | 4,179 | 27 | 178 | (177 | ) | 4,207 | |||||||||||||||
Net Income | $ | 11,891 | $ | 50 | $ | 306 | $ | — | $ | 12,247 | |||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||
(dollars in thousands) | Community | Insurance | Wealth | Eliminations | Consolidated | ||||||||||||||||
Banking | Management | ||||||||||||||||||||
Interest income | $ | 38,715 | $ | — | $ | 119 | $ | (14 | ) | $ | 38,820 | ||||||||||
Interest expense | 5,340 | — | — | (315 | ) | 5,025 | |||||||||||||||
Net interest income (expense) | 33,375 | — | 119 | 301 | 33,795 | ||||||||||||||||
Provision for loan losses | 2,305 | — | — | — | 2,305 | ||||||||||||||||
Noninterest income | 10,731 | 1,481 | 2,394 | 140 | 14,746 | ||||||||||||||||
Noninterest expense | 24,586 | 1,398 | 2,401 | 1,228 | 29,613 | ||||||||||||||||
Depreciation expense | 968 | 12 | 8 | — | 988 | ||||||||||||||||
Amortization of intangible assets | 391 | 13 | 13 | — | 417 | ||||||||||||||||
Provision (benefit) for income taxes | 3,333 | 21 | 56 | (787 | ) | 2,623 | |||||||||||||||
Net Income | $ | 12,523 | $ | 37 | $ | 35 | $ | — | $ | 12,595 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
(dollars in thousands) | Community | Insurance | Wealth | Eliminations | Consolidated | ||||||||||||||||
Banking | Management | ||||||||||||||||||||
Interest income | $ | 114,733 | $ | 1 | $ | 411 | $ | (168 | ) | $ | 114,977 | ||||||||||
Interest expense | 13,403 | — | — | (1,965 | ) | 11,438 | |||||||||||||||
Net interest income (expense) | 101,330 | 1 | 411 | 1,797 | 103,539 | ||||||||||||||||
Provision for loan losses | 6,749 | — | — | — | 6,749 | ||||||||||||||||
Noninterest income | 27,144 | 4,406 | 8,130 | 535 | 40,215 | ||||||||||||||||
Noninterest expense | 68,680 | 3,910 | 7,257 | 4,208 | 84,055 | ||||||||||||||||
Depreciation expense | 2,609 | 35 | 23 | — | 2,667 | ||||||||||||||||
Amortization of intangible assets | 1,148 | 38 | 37 | — | 1,223 | ||||||||||||||||
Provision (benefit) for income taxes | 11,617 | 148 | 491 | (1,876 | ) | 10,380 | |||||||||||||||
Net Income | $ | 37,671 | $ | 276 | $ | 733 | $ | — | $ | 38,680 | |||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
(dollars in thousands) | Community | Insurance | Wealth | Eliminations | Consolidated | ||||||||||||||||
Banking | Management | ||||||||||||||||||||
Interest income | $ | 116,968 | $ | 1 | $ | 325 | $ | 36 | $ | 117,330 | |||||||||||
Interest expense | 17,244 | — | — | (849 | ) | 16,395 | |||||||||||||||
Net interest income (expense) | 99,724 | 1 | 325 | 885 | 100,935 | ||||||||||||||||
Provision for loan losses | 18,600 | — | — | — | 18,600 | ||||||||||||||||
Noninterest income | 28,230 | 4,196 | 7,375 | 546 | 40,347 | ||||||||||||||||
Noninterest expense | 73,850 | 4,119 | 7,037 | 3,917 | 88,923 | ||||||||||||||||
Depreciation expense | 2,887 | 37 | 23 | — | 2,947 | ||||||||||||||||
Amortization of intangible assets | 1,193 | 39 | 44 | — | 1,276 | ||||||||||||||||
Provision (benefit) for income taxes | 7,057 | 1 | 289 | (2,486 | ) | 4,861 | |||||||||||||||
Net Income | $ | 24,367 | $ | 1 | $ | 307 | $ | — | $ | 24,675 | |||||||||||
Sale_of_Merchant_Card_Servicin
Sale of Merchant Card Servicing Business | 9 Months Ended |
Sep. 30, 2013 | |
Text Block [Abstract] | |
Sale of Merchant Card Servicing Business | NOTE 13. SALE OF MERCHANT CARD SERVICING BUSINESS |
We sold our merchant card servicing business for $4.8 million during the first quarter of 2013. Consequently, we terminated an agreement with our existing merchant processor and incurred deconversion and termination fees of $1.7 million. As a result of this transaction, we recognized a gain of $3.1 million in the first quarter of 2013. In conjunction with the sale of the merchant card servicing business, we entered into a marketing and sales alliance agreement with the purchaser for an initial term of ten years. The agreement provides that we will actively market and refer our customers to the purchaser and in return will receive a share of the future revenue. Future revenue is dependent on the number of referrals, number of new merchant accounts and volume of activity. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation |
The interim Consolidated Financial Statements include the accounts of S&T Bancorp, Inc., or S&T, and its wholly owned subsidiaries. All significant intercompany transactions have been eliminated in consolidation. Investments of 20 percent to 50 percent of the outstanding common stock of investees are accounted for using the equity method of accounting. | |
Basis of Presentation | Basis of Presentation |
The accompanying unaudited interim Consolidated Financial Statements of S&T have been prepared in accordance with generally accepted accounting principles, or GAAP, in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with our annual report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission, or SEC, on February 25, 2013. In the opinion of management, the accompanying interim financial information reflects all adjustments, including normal recurring adjustments, necessary to present fairly our financial position and the results of operations for each of the interim periods presented. Results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year or any future period. | |
Reclassification | Reclassification |
Certain amounts in the prior periods’ financial statements and footnotes have been reclassified to conform to the current period’s presentation. The reclassifications had no significant effect on our results of operations or financial condition. | |
Use of Estimates | Use of Estimates |
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. | |
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income | Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income |
In February 2013, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2013-02, Reporting of Amounts Reclassified out of Accumulated Other Comprehensive Income. ASU 2013-02 requires reporting the effect of significant reclassifications out of accumulated other comprehensive income by component on the respective line items in the income statement parenthetically or in the notes to the financial statements if the amounts being reclassified are required under GAAP to be reclassified in their entirety to net income. This ASU is effective for public companies prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012 and early adoption is permitted. We have elected the option of reporting in the notes to the financial statements. The adoption of ASU 2013-02 impacted only our disclosures and did not have an impact on our results of operations or financial position. | |
Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities | Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities |
In January 2013, the FASB issued ASU No. 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities in order to clarify the scope of ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, issued in December 2011. ASU 2011-11 required entities to disclose both gross and net information about instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. This ASU was issued to allow investors to better compare financial statements prepared under GAAP with financial statements prepared under International Financial Reporting Standards, or IFRS. ASU 2013-01 clarified that ASU 2011-11 applies to derivatives, sale and repurchase agreements and reverse sale of repurchase agreements, and securities borrowing and securities lending arrangements, but does not apply to standard commercial contracts that permit either party to net in the event of default under the applicable contract or to broker-dealer unsettled regular-way trades. Both ASUs are effective for public companies retrospectively for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The adoption of ASU 2013-01 and ASU 2011-11 impacted only our disclosures and did not have an impact on our results of operations or financial position. | |
Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date | Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date |
In February 2013, the FASB issued ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date. The ASU requires the measurement of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement with its co-obligors as well as any additional amount that the entity expects to pay on behalf of its co-obligors. The new standard is effective retrospectively for fiscal years and interim periods within those years, beginning after December 15, 2013, and early adoption is permitted. The adoption of this ASU is not expected to have a material impact on our results of operations or financial position. | |
Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Tax Credit Carry Forward Exists | Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Tax Credit Carry forward Exists |
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Tax Credit Carry forward Exists. The ASU requires that entities should present an unrecognized tax benefit as a reduction of the deferred tax asset for a net operating loss, or NOL, or similar tax loss or tax credit carry forward rather than as a liability when the uncertain tax position would reduce the NOL or other carry forward under the tax law. No new disclosures will be necessary. The new standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, and should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of this ASU is expected to impact the presentation of our statement of financial position, but is not expected to have any impact on our results of operations. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Reconciles Numerators and Denominators of Basic Earnings Per Share with Diluted Earnings Per Share | The following table reconciles the numerators and denominators of basic earnings per share with that of diluted earnings per share for the periods presented: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
(dollars in thousands, except shares and per share data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator for Earnings per Share—Basic: | |||||||||||||||||
Net income | $ | 12,247 | $ | 12,595 | $ | 38,680 | $ | 24,675 | |||||||||
Less: Income allocated to participating shares | 33 | 50 | 114 | 107 | |||||||||||||
Net Income Allocated to Shareholders | $ | 12,214 | $ | 12,545 | $ | 38,566 | $ | 24,568 | |||||||||
Numerator for Earnings per Share—Diluted: | |||||||||||||||||
Net income | $ | 12,247 | $ | 12,595 | $ | 38,680 | $ | 24,675 | |||||||||
Net Income Available to Shareholders | $ | 12,247 | $ | 12,595 | $ | 38,680 | $ | 24,675 | |||||||||
Denominators: | |||||||||||||||||
Weighted Average Shares Outstanding—Basic | 29,658,065 | 29,244,588 | 29,644,646 | 28,740,582 | |||||||||||||
Add: Dilutive potential shares | 27,535 | 32,644 | 35,132 | 33,614 | |||||||||||||
Denominator for Treasury Stock Method—Diluted | 29,685,600 | 29,277,232 | 29,679,778 | 28,774,196 | |||||||||||||
Weighted Average Shares Outstanding—Basic | 29,658,065 | 29,244,588 | 29,644,646 | 28,740,582 | |||||||||||||
Add: Average participating shares outstanding | 80,240 | 116,402 | 87,725 | 125,240 | |||||||||||||
Denominator for Two-Class Method—Diluted | 29,738,305 | 29,360,990 | 29,732,371 | 28,865,822 | |||||||||||||
Earnings per share—basic | $ | 0.41 | $ | 0.43 | $ | 1.3 | $ | 0.85 | |||||||||
Earnings per share—diluted | $ | 0.41 | $ | 0.43 | $ | 1.3 | $ | 0.85 | |||||||||
Warrants considered anti-dilutive excluded from dilutive potential shares | 517,012 | 517,012 | 517,012 | 517,012 | |||||||||||||
Stock options considered anti-dilutive excluded from dilutive potential shares | 612,768 | 748,964 | 632,481 | 751,492 | |||||||||||||
Restricted stock considered anti-dilutive excluded from dilutive potential shares | 52,705 | 48,717 | 52,593 | 56,585 | |||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present our assets and liabilities that are measured at fair value on a recurring basis by fair value hierarchy level at September 30, 2013 and December 31, 2012. There were no transfers between Level 1 and Level 2 for items measured at fair value on a recurring basis during the periods presented. | ||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | — | $ | 237,398 | $ | — | $ | 237,398 | |||||||||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | — | 44,877 | — | 44,877 | |||||||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | — | 51,250 | — | 51,250 | |||||||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | — | 30,680 | — | 30,680 | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | — | 114,817 | — | 114,817 | |||||||||||||||||||||||||||||
Marketable equity securities | 183 | 8,957 | — | 9,140 | |||||||||||||||||||||||||||||
Total securities available-for-sale | 183 | 487,979 | — | 488,162 | |||||||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,545 | — | — | 2,545 | |||||||||||||||||||||||||||||
Total securities | 2,728 | 487,979 | — | 490,707 | |||||||||||||||||||||||||||||
Derivative financial assets: | |||||||||||||||||||||||||||||||||
Interest rate swaps | — | 16,084 | — | 16,084 | |||||||||||||||||||||||||||||
Interest rate lock commitments | — | 206 | — | 206 | |||||||||||||||||||||||||||||
Total Assets | $ | 2,728 | $ | 504,269 | $ | — | $ | 506,997 | |||||||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||||||||||||||
Derivative financial liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | — | $ | 16,025 | $ | — | $ | 16,025 | |||||||||||||||||||||||||
Forward sale contracts | — | 162 | — | 162 | |||||||||||||||||||||||||||||
Total Liabilities | $ | — | $ | 16,187 | $ | — | $ | 16,187 | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Securities available-for-sale: | |||||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | — | $ | 212,066 | $ | — | $ | 212,066 | |||||||||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | — | 57,896 | — | 57,896 | |||||||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | — | 50,623 | — | 50,623 | |||||||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | — | 10,158 | — | 10,158 | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | — | 112,767 | — | 112,767 | |||||||||||||||||||||||||||||
Marketable equity securities | 140 | 8,316 | 300 | 8,756 | |||||||||||||||||||||||||||||
Total securities available-for-sale | 140 | 451,826 | 300 | 452,266 | |||||||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,223 | — | — | 2,223 | |||||||||||||||||||||||||||||
Total securities | 2,363 | 451,826 | 300 | 454,489 | |||||||||||||||||||||||||||||
Derivative financial assets: | |||||||||||||||||||||||||||||||||
Interest rate swaps | — | 23,748 | — | 23,748 | |||||||||||||||||||||||||||||
Interest rate lock commitments | — | 467 | — | 467 | |||||||||||||||||||||||||||||
Total Assets | $ | 2,363 | $ | 476,041 | $ | 300 | $ | 478,704 | |||||||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||||||||||||||
Derivative financial liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | — | $ | 23,522 | $ | — | $ | 23,522 | |||||||||||||||||||||||||
Forward sale contracts | — | 48 | — | 48 | |||||||||||||||||||||||||||||
Total Liabilities | $ | — | $ | 23,570 | $ | — | $ | 23,570 | |||||||||||||||||||||||||
Changes in Assets Classified as Level 3 in Fair Value Hierarchy | The following table presents the changes in assets measured at fair value on a recurring basis for which we have utilized Level 3 inputs to determine the fair value: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | — | $ | 556 | $ | 300 | $ | 462 | |||||||||||||||||||||||||
Total gains included in other comprehensive income(1) | — | 19 | 44 | 50 | |||||||||||||||||||||||||||||
Net purchases, sales, issuances and settlements | — | (300 | ) | — | (237 | ) | |||||||||||||||||||||||||||
Transfers out of Level 3 | — | — | (344 | ) | — | ||||||||||||||||||||||||||||
Balance at end of period | $ | — | $ | 275 | $ | — | $ | 275 | |||||||||||||||||||||||||
(1) Changes in estimated fair value of available-for-sale investments are recorded in accumulated other comprehensive income/loss, while realized gains and losses from sales are recorded in security gains (losses), net in the Consolidated Statements of Comprehensive Income. | |||||||||||||||||||||||||||||||||
Assets Measured at Estimated Fair Value on Nonrecurring Basis by Fair Value Hierarchy | We had no loans held for sale that were recorded at fair value at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(dollars in thousands) | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 23,482 | $ | 23,482 | $ | — | $ | — | $ | 44,059 | $ | 44,059 | |||||||||||||||||
Other real estate owned | — | — | 221 | 221 | — | — | 585 | 585 | |||||||||||||||||||||||||
Mortgage servicing rights | — | — | 2,960 | 2,960 | — | — | 2,106 | 2,106 | |||||||||||||||||||||||||
Total Assets | $ | — | $ | — | $ | 26,663 | $ | 26,663 | $ | — | $ | — | $ | 46,750 | $ | 46,750 | |||||||||||||||||
Carrying Values and Fair Values of Financial Instruments | The carrying values and fair values of our financial instruments at September 30, 2013 and December 31, 2012 are presented in the following tables: | ||||||||||||||||||||||||||||||||
Fair Value Measurements at September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Carrying | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Value(1) | |||||||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Cash and due from banks, including interest-bearing deposits | $ | 234,928 | $ | 234,928 | $ | 234,928 | $ | — | $ | — | |||||||||||||||||||||||
Securities available-for-sale | 488,162 | 488,162 | 183 | 487,979 | — | ||||||||||||||||||||||||||||
Loans held for sale | 3,695 | 3,829 | — | — | 3,829 | ||||||||||||||||||||||||||||
Portfolio loans, net of unearned income | 3,511,335 | 3,479,150 | — | — | 3,479,150 | ||||||||||||||||||||||||||||
Bank owned life insurance | 60,001 | 60,001 | — | 60,001 | — | ||||||||||||||||||||||||||||
FHLB and other restricted stock | 15,049 | 15,049 | — | — | 15,049 | ||||||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,545 | 2,545 | 2,545 | — | — | ||||||||||||||||||||||||||||
Mortgage servicing rights | 2,820 | 2,960 | — | — | 2,960 | ||||||||||||||||||||||||||||
Interest rate swaps | 16,084 | 16,084 | — | 16,084 | — | ||||||||||||||||||||||||||||
Interest rate lock commitments | 206 | 206 | — | 206 | — | ||||||||||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||||||||||||||
Deposits | $ | 3,694,203 | $ | 3,696,214 | $ | — | $ | — | $ | 3,696,214 | |||||||||||||||||||||||
Securities sold under repurchase agreements | 33,290 | 33,290 | — | — | 33,290 | ||||||||||||||||||||||||||||
Short-term borrowings | 175,000 | 175,000 | — | — | 175,000 | ||||||||||||||||||||||||||||
Long-term borrowings | 22,390 | 23,718 | — | — | 23,718 | ||||||||||||||||||||||||||||
Junior subordinated debt securities | 45,619 | 45,619 | — | — | 45,619 | ||||||||||||||||||||||||||||
Interest rate swaps | 16,025 | 16,025 | — | 16,025 | — | ||||||||||||||||||||||||||||
Forward sale contracts | 162 | 162 | — | 162 | — | ||||||||||||||||||||||||||||
(1) As reported in the Consolidated Balance Sheets | |||||||||||||||||||||||||||||||||
Fair Value Measurements at December 31, 2012 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Carrying | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Value(1) | |||||||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||
Cash and due from banks, including interest-bearing deposits | $ | 337,711 | $ | 337,711 | $ | 337,711 | $ | — | $ | — | |||||||||||||||||||||||
Securities available-for-sale | 452,266 | 452,266 | 140 | 451,826 | 300 | ||||||||||||||||||||||||||||
Loans held for sale | 22,499 | 22,601 | — | — | 22,601 | ||||||||||||||||||||||||||||
Portfolio loans, net of unearned income | 3,346,622 | 3,347,602 | — | — | 3,347,602 | ||||||||||||||||||||||||||||
Bank owned life insurance | 58,619 | 58,619 | — | 58,619 | — | ||||||||||||||||||||||||||||
FHLB and other restricted stock | 15,315 | 15,315 | — | — | 15,315 | ||||||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,223 | 2,223 | 2,223 | — | — | ||||||||||||||||||||||||||||
Mortgage servicing rights | 2,106 | 2,106 | — | — | 2,106 | ||||||||||||||||||||||||||||
Interest rate swaps | 23,748 | 23,748 | — | 23,748 | — | ||||||||||||||||||||||||||||
Interest rate lock commitments | 467 | 467 | — | 467 | — | ||||||||||||||||||||||||||||
LIABILITIES | |||||||||||||||||||||||||||||||||
Deposits | $ | 3,638,428 | $ | 3,643,683 | $ | — | $ | — | $ | 3,643,683 | |||||||||||||||||||||||
Securities sold under repurchase agreements | 62,582 | 62,582 | — | — | 62,582 | ||||||||||||||||||||||||||||
Short-term borrowings | 75,000 | 75,000 | — | — | 75,000 | ||||||||||||||||||||||||||||
Long-term borrowings | 34,101 | 36,235 | — | — | 36,235 | ||||||||||||||||||||||||||||
Junior subordinated debt securities | 90,619 | 90,619 | — | — | 90,619 | ||||||||||||||||||||||||||||
Interest rate swaps | 23,522 | 23,522 | — | 23,522 | — | ||||||||||||||||||||||||||||
Forward sale contracts | 48 | 48 | — | 48 | — | ||||||||||||||||||||||||||||
(1) As reported in the Consolidated Balance Sheets |
Securities_AvailableforSale_Ta
Securities Available-for-Sale (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||
Composition of Securities Available-for-Sale | The following table indicates the composition of the securities available-for-sale portfolio as of the dates presented: | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(dollars in thousands) | Amortized | Gross | Gross | Fair | Amortized | Gross | Gross | Fair | |||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Value | Cost | Unrealized | Unrealized | Value | ||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | 236,739 | $ | 2,614 | $ | (1,955 | ) | $ | 237,398 | $ | 207,229 | $ | 4,890 | $ | -53 | $ | 212,066 | ||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | 44,474 | 607 | (204 | ) | 44,877 | 56,085 | 1,811 | — | 57,896 | ||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | 50,021 | 1,759 | (530 | ) | 51,250 | 47,279 | 3,344 | — | 50,623 | ||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | 31,524 | — | (844 | ) | 30,680 | 10,129 | 29 | — | 10,158 | ||||||||||||||||||||||||
Obligations of states and political subdivisions | 115,362 | 1,705 | (2,250 | ) | 114,817 | 107,911 | 4,908 | -52 | 112,767 | ||||||||||||||||||||||||
Debt Securities | 478,120 | 6,685 | (5,783 | ) | 479,022 | 428,633 | 14,982 | -105 | 443,510 | ||||||||||||||||||||||||
Marketable equity securities | 7,580 | 1,560 | — | 9,140 | 7,672 | 1,095 | -11 | 8,756 | |||||||||||||||||||||||||
Total | $ | 485,700 | $ | 8,245 | $ | (5,783 | ) | $ | 488,162 | $ | 436,305 | $ | 16,077 | $ | -116 | $ | 452,266 | ||||||||||||||||
Schedule of Gross and Net Realized Gains and Losses on Sale of Securities | The following table shows the composition of gross and net realized gains and losses for the periods presented: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||||||
Gross realized gains | $ | 3 | $ | 2,170 | $ | 5 | $ | 3,027 | |||||||||||||||||||||||||
Gross realized losses | — | — | — | 11 | |||||||||||||||||||||||||||||
Net Realized Gains | $ | 3 | $ | 2,170 | $ | 5 | $ | 3,016 | |||||||||||||||||||||||||
Fair Value and Age of Gross Unrealized Losses by Investment Category | The following tables indicate the fair value and the age of gross unrealized losses by investment category as of the dates presented: | ||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
(dollars in thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | 115,358 | $ | (1,955 | ) | $ | — | $ | — | $ | 115,358 | $ | (1,955 | ) | |||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | 19,414 | (204 | ) | — | — | 19,414 | (204 | ) | |||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | 23,386 | (530 | ) | — | — | 23,386 | (530 | ) | |||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | 30,680 | (844 | ) | — | — | 30,680 | (844 | ) | |||||||||||||||||||||||||
Obligations of states and political subdivisions | 55,690 | (2,250 | ) | — | — | 55,690 | (2,250 | ) | |||||||||||||||||||||||||
Debt Securities | 244,528 | (5,783 | ) | — | — | 244,528 | (5,783 | ) | |||||||||||||||||||||||||
Marketable equity securities | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total Temporarily Impaired Securities | $ | 244,528 | $ | (5,783 | ) | $ | — | $ | — | $ | 244,528 | $ | (5,783 | ) | |||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or More | Total | |||||||||||||||||||||||||||||||
(dollars in thousands) | Fair Value | Unrealized | Fair Value | Unrealized | Fair Value | Unrealized | |||||||||||||||||||||||||||
Losses | Losses | Losses | |||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies | $ | 11,370 | $ | (53 | ) | $ | — | $ | — | $ | 11,370 | $ | (53 | ) | |||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | — | — | — | — | — | — | |||||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | — | — | — | — | — | — | |||||||||||||||||||||||||||
Commercial mortgage-backed securities of U.S. government corporations and agencies | — | — | — | — | — | — | |||||||||||||||||||||||||||
Obligations of states and political subdivisions | 11,285 | (52 | ) | — | — | 11,285 | (52 | ) | |||||||||||||||||||||||||
Debt Securities | 22,655 | (105 | ) | — | — | 22,655 | (105 | ) | |||||||||||||||||||||||||
Marketable equity securities | 228 | (11 | ) | — | — | 228 | (11 | ) | |||||||||||||||||||||||||
Total Temporarily Impaired Securities | $ | 22,883 | $ | (116 | ) | $ | — | $ | — | $ | 22,883 | $ | (116 | ) | |||||||||||||||||||
Amortized Cost and Fair Value of Available-for-Sale Securities | The amortized cost and fair value of securities available-for-sale at September 30, 2013, by contractual maturity, are included in the table below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Amortized | Fair Value | |||||||||||||||||||||||||||||||
Cost | |||||||||||||||||||||||||||||||||
Obligations of U.S. government corporations and agencies, and obligations of states and political subdivisions | |||||||||||||||||||||||||||||||||
Due in one year or less | $ | 34,297 | $ | 34,537 | |||||||||||||||||||||||||||||
Due after one year through five years | 154,121 | 156,195 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 77,405 | 76,221 | |||||||||||||||||||||||||||||||
Due after ten years | 86,278 | 85,262 | |||||||||||||||||||||||||||||||
352,101 | 352,215 | ||||||||||||||||||||||||||||||||
Collateralized mortgage obligations of U.S. government corporations and agencies | 44,474 | 44,877 | |||||||||||||||||||||||||||||||
Residential mortgage-backed securities of U.S. government corporations and agencies | 50,021 | 51,250 | |||||||||||||||||||||||||||||||
Commercial Mortgage-backed securities of U.S. government corporations and agencies | 31,524 | 30,680 | |||||||||||||||||||||||||||||||
Debt Securities | 478,120 | 479,022 | |||||||||||||||||||||||||||||||
Marketable equity securities | 7,580 | 9,140 | |||||||||||||||||||||||||||||||
Total | $ | 485,700 | $ | 488,162 |
Loans_and_Loans_Held_for_Sale_
Loans and Loans Held for Sale (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||
Composition of Loans | The following table indicates the composition of the loans as of the dates presented: | ||||||||||||||||||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,567,814 | $ | 1,452,133 | |||||||||||||||||||||||||||||
Commercial and industrial | 827,699 | 791,396 | |||||||||||||||||||||||||||||||
Commercial construction | 152,206 | 168,143 | |||||||||||||||||||||||||||||||
Total Commercial Loans | 2,547,719 | 2,411,672 | |||||||||||||||||||||||||||||||
Consumer | |||||||||||||||||||||||||||||||||
Residential mortgage | 477,141 | 427,303 | |||||||||||||||||||||||||||||||
Home equity | 413,097 | 431,335 | |||||||||||||||||||||||||||||||
Installment and other consumer | 69,043 | 73,875 | |||||||||||||||||||||||||||||||
Consumer construction | 4,335 | 2,437 | |||||||||||||||||||||||||||||||
Total Consumer Loans | 963,616 | 934,950 | |||||||||||||||||||||||||||||||
Total Portfolio Loans | 3,511,335 | 3,346,622 | |||||||||||||||||||||||||||||||
Loans held for sale | 3,695 | 22,499 | |||||||||||||||||||||||||||||||
Total Loans | $ | 3,515,030 | $ | 3,369,121 | |||||||||||||||||||||||||||||
Restructured Loans for Periods Presented | The following table summarizes the restructured loans as of the dates presented: | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(dollars in thousands) | Accruing | Nonaccruing | Total | Accruing | Nonaccruing | Total | |||||||||||||||||||||||||||
TDRs | TDRs | TDRs | TDRs | TDRs | TDRs | ||||||||||||||||||||||||||||
Commercial real estate | $ | 15,619 | $ | 7,150 | $ | 22,769 | $ | 14,220 | $ | 9,584 | $ | 23,804 | |||||||||||||||||||||
Commercial and industrial | 7,595 | 1,926 | 9,521 | 8,270 | 939 | 9,209 | |||||||||||||||||||||||||||
Commercial construction | 5,574 | 9,652 | 15,226 | 11,734 | 5,324 | 17,058 | |||||||||||||||||||||||||||
Residential mortgage | 2,689 | 1,054 | 3,743 | 3,078 | 2,752 | 5,830 | |||||||||||||||||||||||||||
Home equity | 3,999 | 612 | 4,611 | 4,195 | 341 | 4,536 | |||||||||||||||||||||||||||
Installment and other consumer | 148 | — | 148 | 24 | — | 24 | |||||||||||||||||||||||||||
Total | $ | 35,624 | $ | 20,394 | $ | 56,018 | $ | 41,521 | $ | 18,940 | $ | 60,461 | |||||||||||||||||||||
Restructured Loans for Periods Stated | The following tables present the restructured loans for the three and nine month periods ended September 30, 2013 and September 30, 2012: | ||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Pre-Modification | Post-Modification | Total Difference | |||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | in Recorded | ||||||||||||||||||||||||||||||
Recorded | Recorded | Investment | |||||||||||||||||||||||||||||||
Investment(1) | Investment(1) | ||||||||||||||||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||||||||||||
Interest rate reduction and maturity date extension | 2 | $ | 664 | $ | 644 | $ | (20 | ) | |||||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||||||||||
Principal deferral | 1 | 278 | 278 | — | |||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
Interest rate reduction | 1 | 54 | 54 | — | |||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||
Chapter 7 bankruptcy(2) | 8 | 772 | 767 | (5 | ) | ||||||||||||||||||||||||||||
Installment and other consumer | |||||||||||||||||||||||||||||||||
Chapter 7 bankruptcy(2) | 3 | 17 | 15 | (2 | ) | ||||||||||||||||||||||||||||
Total by Concession Type | |||||||||||||||||||||||||||||||||
Principal deferral | 1 | 278 | 278 | — | |||||||||||||||||||||||||||||
Interest rate reduction | 1 | 54 | 54 | — | |||||||||||||||||||||||||||||
Interest rate reduction and maturity date extension | 2 | 664 | 644 | (20 | ) | ||||||||||||||||||||||||||||
Chapter 7 bankruptcy(2) | 11 | 789 | 782 | (7 | ) | ||||||||||||||||||||||||||||
Total | 15 | $ | 1,785 | $ | 1,758 | $ | (27 | ) | |||||||||||||||||||||||||
(1) Excludes loans that were fully paid off or fully charged-off by period end. The pre-modification balance represents the balance outstanding prior to modification. The post-modification balance represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||
(2) Chapter 7 bankruptcy loans where the debt has been legally discharged through the bankruptcy court and not reaffirmed. | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Pre-Modification | Post-Modification | Total Difference | |||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | in Recorded | ||||||||||||||||||||||||||||||
Recorded | Recorded | Investment | |||||||||||||||||||||||||||||||
Investment(1) | Investment(1) | ||||||||||||||||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||||||||||||
Principal deferral | 3 | $ | 1,541 | $ | 1,288 | $ | (253 | ) | |||||||||||||||||||||||||
Interest rate reduction and maturity date extension | 2 | 664 | 644 | (20 | ) | ||||||||||||||||||||||||||||
Principal forgiveness(2) | 1 | 4,339 | 4,339 | — | |||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 7 | 258 | 255 | (3 | ) | ||||||||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||||||||||
Principal deferral | 2 | 670 | 665 | (5 | ) | ||||||||||||||||||||||||||||
Maturity date extension | 1 | 751 | 751 | — | |||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 1 | 3 | 3 | — | |||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
Principal deferral | 2 | 153 | 153 | — | |||||||||||||||||||||||||||||
Interest rate reduction | 1 | 54 | 54 | — | |||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 8 | 353 | 344 | (9 | ) | ||||||||||||||||||||||||||||
Home equity | |||||||||||||||||||||||||||||||||
Principal deferral | 1 | 174 | 45 | (129 | ) | ||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 31 | 1,420 | 1,407 | (13 | ) | ||||||||||||||||||||||||||||
Installment and other consumer | |||||||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 9 | 90 | 88 | (2 | ) | ||||||||||||||||||||||||||||
Total by Concession Type | |||||||||||||||||||||||||||||||||
Principal Deferral | 8 | 2,538 | 2,151 | (387 | ) | ||||||||||||||||||||||||||||
Interest rate reduction | 1 | 54 | 54 | — | |||||||||||||||||||||||||||||
Interest rate reduction and maturity date extension | 2 | 664 | 644 | (20 | ) | ||||||||||||||||||||||||||||
Principal forgiveness(2) | 1 | 4,339 | 4,339 | — | |||||||||||||||||||||||||||||
Maturity date extension | 1 | 751 | 751 | — | |||||||||||||||||||||||||||||
Chapter 7 bankruptcy(3) | 56 | 2,124 | 2,097 | (27 | ) | ||||||||||||||||||||||||||||
Total | 69 | $ | 10,470 | $ | 10,036 | $ | (434 | ) | |||||||||||||||||||||||||
(1) Excludes loans that were fully paid off or fully charged-off by period end. The pre-modification balance represents the balance outstanding prior to modification. The post-modification balance represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||
(2) This loan had debt forgiveness of $0.1 million to the customer; however, the loan was previously charged off to a balance below the actual contractual balance. | |||||||||||||||||||||||||||||||||
(3) Chapter 7 bankruptcy loans where the debt has been legally discharged through the bankruptcy court and not reaffirmed. | |||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Pre-Modification | Post-Modification | Total Difference | |||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | in Recorded | ||||||||||||||||||||||||||||||
Recorded | Recorded | Investment | |||||||||||||||||||||||||||||||
Investment(1) | Investment(1) | ||||||||||||||||||||||||||||||||
Commercial construction | |||||||||||||||||||||||||||||||||
Maturity date extension | 7 | $ | 2,905 | $ | 2,257 | $ | (648 | ) | |||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
Maturity date extension | 1 | 35 | 35 | — | |||||||||||||||||||||||||||||
Interest rate reduction | 1 | 32 | 32 | — | |||||||||||||||||||||||||||||
Total by Concession Type | |||||||||||||||||||||||||||||||||
Maturity date extension | 8 | 2,940 | 2,292 | (648 | ) | ||||||||||||||||||||||||||||
Interest rate reduction | 1 | 32 | 32 | — | |||||||||||||||||||||||||||||
Total | 9 | $ | 2,972 | $ | 2,324 | $ | (648 | ) | |||||||||||||||||||||||||
(1) Excludes loans that were fully paid off or fully charged-off by period end. The pre-modification balance represents the balance outstanding prior to modification. The post-modification balance represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Pre-Modification | Post-Modification | Total Difference | |||||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | in Recorded | ||||||||||||||||||||||||||||||
Recorded | Recorded | Investment | |||||||||||||||||||||||||||||||
Investment(1) | Investment(1) | ||||||||||||||||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||||||||||||
Maturity date extension | 1 | $ | 160 | $ | 157 | $ | (3 | ) | |||||||||||||||||||||||||
Interest rate reduction | 1 | 575 | 565 | (10 | ) | ||||||||||||||||||||||||||||
Commercial and industrial | |||||||||||||||||||||||||||||||||
Maturity date extension | 2 | 2,576 | 2,430 | (146 | ) | ||||||||||||||||||||||||||||
Commercial construction | |||||||||||||||||||||||||||||||||
Maturity date extension | 7 | 2,905 | 2,257 | (648 | ) | ||||||||||||||||||||||||||||
Residential mortgage | |||||||||||||||||||||||||||||||||
Maturity date extension | 1 | 475 | 460 | (15 | ) | ||||||||||||||||||||||||||||
Interest rate reduction | 2 | 67 | 67 | — | |||||||||||||||||||||||||||||
Total by Concession Type | |||||||||||||||||||||||||||||||||
Maturity date extension | 11 | 6,116 | 5,304 | (812 | ) | ||||||||||||||||||||||||||||
Interest rate reduction | 3 | 642 | 632 | (10 | ) | ||||||||||||||||||||||||||||
Total | 14 | $ | 6,758 | $ | 5,936 | $ | (822 | ) | |||||||||||||||||||||||||
(1) Excludes loans that were fully paid off or fully charged-off by period end. The pre-modification balance represents the balance outstanding prior to modification. The post-modification balance represents the outstanding balance at period end. | |||||||||||||||||||||||||||||||||
Summary of Nonperforming Assets of Defaulted TDRs | The following table is a summary of TDRs which defaulted during the three and nine month periods ended September 30, 2013 and 2012 that had been restructured within the last twelve months prior to defaulting: | ||||||||||||||||||||||||||||||||
Defaulted TDRs | |||||||||||||||||||||||||||||||||
For the | For the | For the | For the | ||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||
(dollars in thousands) | Number of | Recorded | Number of | Recorded | Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||
Defaults | Investment | Defaults | Investment | Defaults | Investment | Defaults | Investment | ||||||||||||||||||||||||||
Commercial real estate | 1 | $ | 75 | 1 | $ | 270 | 1 | $ | 75 | 2 | $ | 329 | |||||||||||||||||||||
Commercial and Industrial | 1 | 435 | — | — | 1 | 435 | — | — | |||||||||||||||||||||||||
Commercial construction | — | — | — | — | — | — | 3 | 2,659 | |||||||||||||||||||||||||
Residential real estate | 4 | 450 | — | — | 7 | 514 | 3 | 2,359 | |||||||||||||||||||||||||
Home equity | 1 | 42 | — | — | 5 | 193 | — | — | |||||||||||||||||||||||||
Total | 7 | $ | 1,002 | 1 | $ | 270 | 14 | $ | 1,217 | 8 | $ | 5,347 | |||||||||||||||||||||
Summary of Nonperforming Assets | The following table is a summary of nonperforming assets as of the dates presented: | ||||||||||||||||||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||||||||
Nonperforming Assets | |||||||||||||||||||||||||||||||||
Nonaccrual loans | $ | 16,005 | $ | 36,018 | |||||||||||||||||||||||||||||
Nonaccrual TDRs | 20,394 | 18,940 | |||||||||||||||||||||||||||||||
Total nonaccrual loans | 36,399 | 54,958 | |||||||||||||||||||||||||||||||
OREO | 460 | 911 | |||||||||||||||||||||||||||||||
Total Nonperforming Assets | $ | 36,859 | $ | 55,869 | |||||||||||||||||||||||||||||
Allowance_for_Loan_Losses_Tabl
Allowance for Loan Losses (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||
Age Analysis of Past Due Loans Segregated by Class of Loans | The following tables present the age analysis of past due loans segregated by class of loans as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Current | 30-59 Days | 60-89 Days | Nonaccrual | Total Past | Total Loans | |||||||||||||||||||||||||||||||||||
Past Due | Past Due | Due | |||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,549,998 | $ | 1,095 | $ | 242 | $ | 16,479 | $ | 17,816 | $ | 1,567,814 | |||||||||||||||||||||||||||||
Commercial and industrial | 820,425 | 3,100 | 277 | 3,897 | 7,274 | 827,699 | |||||||||||||||||||||||||||||||||||
Commercial construction | 140,551 | 1,971 | — | 9,684 | 11,655 | 152,206 | |||||||||||||||||||||||||||||||||||
Residential mortgage | 471,639 | 715 | 1,766 | 3,021 | 5,502 | 477,141 | |||||||||||||||||||||||||||||||||||
Home equity | 407,072 | 2,291 | 443 | 3,291 | 6,025 | 413,097 | |||||||||||||||||||||||||||||||||||
Installment and other consumer | 68,740 | 221 | 55 | 27 | 303 | 69,043 | |||||||||||||||||||||||||||||||||||
Consumer construction | 4,335 | — | — | — | — | 4,335 | |||||||||||||||||||||||||||||||||||
Totals | $ | 3,462,760 | $ | 9,393 | $ | 2,783 | $ | 36,399 | $ | 48,575 | $ | 3,511,335 | |||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Current | 30-59 Days | 60-89 Days | Nonaccrual | Total Past | Total Loans | |||||||||||||||||||||||||||||||||||
Past Due | Past Due | Due | |||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,418,934 | $ | 2,230 | $ | 413 | $ | 30,556 | $ | 33,199 | $ | 1,452,133 | |||||||||||||||||||||||||||||
Commercial and industrial | 780,315 | 4,409 | 237 | 6,435 | 11,081 | 791,396 | |||||||||||||||||||||||||||||||||||
Commercial construction | 150,823 | 10,542 | — | 6,778 | 17,320 | 168,143 | |||||||||||||||||||||||||||||||||||
Residential mortgage | 416,364 | 1,713 | 1,948 | 7,278 | 10,939 | 427,303 | |||||||||||||||||||||||||||||||||||
Home equity | 424,485 | 2,332 | 865 | 3,653 | 6,850 | 431,335 | |||||||||||||||||||||||||||||||||||
Installment and other consumer | 73,334 | 406 | 95 | 40 | 541 | 73,875 | |||||||||||||||||||||||||||||||||||
Consumer construction | 2,219 | — | — | 218 | 218 | 2,437 | |||||||||||||||||||||||||||||||||||
Totals | $ | 3,266,474 | $ | 21,632 | $ | 3,558 | $ | 54,958 | $ | 80,148 | $ | 3,346,622 | |||||||||||||||||||||||||||||
Recorded Investment in Commercial Loan Classes by Internally Assigned Risk Ratings | The following tables summarize the recorded investment in commercial loan classes by internally assigned risk ratings as of the dates presented: | ||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | % of | Commercial | % of | Commercial | % of | Total | % of | |||||||||||||||||||||||||||||||||
Real Estate | Total | and Industrial | Total | Construction | Total | Total | |||||||||||||||||||||||||||||||||||
Pass | $ | 1,458,589 | 93 | % | $ | 771,597 | 93.2 | % | $ | 119,120 | 78.3 | % | $ | 2,349,306 | 92.2 | % | |||||||||||||||||||||||||
Special mention | 51,849 | 3.3 | % | 34,238 | 4.1 | % | 16,755 | 11 | % | 102,842 | 4 | % | |||||||||||||||||||||||||||||
Substandard | 57,376 | 3.7 | % | 21,864 | 2.7 | % | 16,331 | 10.7 | % | 95,571 | 3.8 | % | |||||||||||||||||||||||||||||
Total | $ | 1,567,814 | 100 | % | $ | 827,699 | 100 | % | $ | 152,206 | 100 | % | $ | 2,547,719 | 100 | % | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | % of | Commercial | % of | Commercial | % of | Total | % of | |||||||||||||||||||||||||||||||||
Real Estate | Total | and Industrial | Total | Construction | Total | Total | |||||||||||||||||||||||||||||||||||
Pass | $ | 1,265,810 | 87.2 | % | $ | 718,070 | 90.7 | % | $ | 118,841 | 70.7 | % | $ | 2,102,721 | 87.2 | % | |||||||||||||||||||||||||
Special mention | 96,156 | 6.6 | % | 42,016 | 5.3 | % | 30,748 | 18.3 | % | 168,920 | 7 | % | |||||||||||||||||||||||||||||
Substandard | 90,167 | 6.2 | % | 31,310 | 4 | % | 18,554 | 11 | % | 140,031 | 5.8 | % | |||||||||||||||||||||||||||||
Total | $ | 1,452,133 | 100 | % | $ | 791,396 | 100 | % | $ | 168,143 | 100 | % | $ | 2,411,672 | 100 | % | |||||||||||||||||||||||||
Recorded Investment in Consumer Loan Classes by Performing and Nonperforming Status | The following tables indicate the recorded investment in consumer loan classes by performing and nonperforming status as of the dates presented: | ||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Residential | % of | Home | % of | Installment | % of | Consumer | % of | Total | % of | |||||||||||||||||||||||||||||||
Mortgage | Total | Equity | Total | and other | Total | Construction | Total | Total | |||||||||||||||||||||||||||||||||
consumer | |||||||||||||||||||||||||||||||||||||||||
Performing | $ | 474,120 | 99.4 | % | $ | 409,806 | 99.2 | % | $ | 69,016 | 99.9 | % | $ | 4,335 | 100 | % | $ | 957,277 | 99.3 | % | |||||||||||||||||||||
Nonperforming | 3,021 | 0.6 | % | 3,291 | 0.8 | % | 27 | 0.1 | % | — | — | 6,339 | 0.7 | % | |||||||||||||||||||||||||||
Total | $ | 477,141 | 100 | % | $ | 413,097 | 100 | % | $ | 69,043 | 100 | % | $ | 4,335 | 100 | % | $ | 963,616 | 100 | % | |||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Residential | % of | Home | % of | Installment | % of | Consumer | % of | Total | % of | |||||||||||||||||||||||||||||||
Mortgage | Total | Equity | Total | and other | Total | Construction | Total | Total | |||||||||||||||||||||||||||||||||
consumer | |||||||||||||||||||||||||||||||||||||||||
Performing | $ | 420,025 | 98.3 | % | $ | 427,682 | 99.2 | % | $ | 73,835 | 99.9 | % | $ | 2,219 | 91.1 | % | $ | 923,761 | 98.8 | % | |||||||||||||||||||||
Nonperforming | 7,278 | 1.7 | % | 3,653 | 0.8 | % | 40 | 0.1 | % | 218 | 8.9 | % | 11,189 | 1.2 | % | ||||||||||||||||||||||||||
Total | $ | 427,303 | 100 | % | $ | 431,335 | 100 | % | $ | 73,875 | 100 | % | $ | 2,437 | 100 | % | $ | 934,950 | 100 | % | |||||||||||||||||||||
Investments in Loans Considered to be Impaired and Related Information on Impaired Loans | The following table presents investments in loans considered to be impaired and related information on those impaired loans as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Recorded | Unpaid | Related | Unpaid | Related | ||||||||||||||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Principal | Allowance | ||||||||||||||||||||||||||||||||||||
Balance | Investment | Balance | |||||||||||||||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,014 | $ | 2,291 | $ | 64 | $ | 6,138 | $ | 6,864 | $ | 1,226 | |||||||||||||||||||||||||||||
Commercial and industrial | — | — | — | 1,864 | 2,790 | 1,002 | |||||||||||||||||||||||||||||||||||
Commercial construction | 5,929 | 5,929 | 3,139 | 799 | 896 | 3 | |||||||||||||||||||||||||||||||||||
Consumer real estate | 98 | 98 | 56 | — | — | — | |||||||||||||||||||||||||||||||||||
Other consumer | 34 | 34 | 19 | — | — | — | |||||||||||||||||||||||||||||||||||
Total with a Related Allowance Recorded | 7,075 | 8,352 | 3,278 | 8,801 | 10,550 | 2,231 | |||||||||||||||||||||||||||||||||||
Without a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 27,309 | 38,351 | — | 33,856 | 45,953 | — | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 10,128 | 12,406 | — | 11,419 | 12,227 | — | |||||||||||||||||||||||||||||||||||
Commercial construction | 9,329 | 17,873 | — | 17,713 | 27,486 | — | |||||||||||||||||||||||||||||||||||
Consumer real estate | 8,256 | 9,267 | — | 10,827 | 12,025 | — | |||||||||||||||||||||||||||||||||||
Other consumer | 114 | 119 | — | 25 | 25 | — | |||||||||||||||||||||||||||||||||||
Total without a Related Allowance Recorded | 55,136 | 78,016 | — | 73,840 | 97,716 | — | |||||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 28,323 | 40,642 | 64 | 39,994 | 52,817 | 1,226 | |||||||||||||||||||||||||||||||||||
Commercial and industrial | 10,128 | 12,406 | — | 13,283 | 15,017 | 1,002 | |||||||||||||||||||||||||||||||||||
Commercial construction | 15,258 | 23,802 | 3,139 | 18,512 | 28,382 | 3 | |||||||||||||||||||||||||||||||||||
Consumer real estate | 8,354 | 9,365 | 56 | 10,827 | 12,025 | — | |||||||||||||||||||||||||||||||||||
Other consumer | 148 | 153 | 19 | 25 | 25 | — | |||||||||||||||||||||||||||||||||||
Total | $ | 62,211 | $ | 86,368 | $ | 3,278 | $ | 82,641 | $ | 108,266 | $ | 2,231 | |||||||||||||||||||||||||||||
The following tables summarize investments in loans considered to be impaired and related information on those impaired loans for the periods presented: | |||||||||||||||||||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,014 | $ | — | $ | 6,430 | $ | 15 | |||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | 784 | (9 | ) | ||||||||||||||||||||||||||||||||||||
Commercial construction | 5,929 | 49 | 4,236 | 19 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 100 | 2 | — | — | |||||||||||||||||||||||||||||||||||||
Other consumer | 35 | 1 | — | — | |||||||||||||||||||||||||||||||||||||
Total with a Related Allowance Recorded | 7,078 | 52 | 11,450 | 25 | |||||||||||||||||||||||||||||||||||||
Without a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 27,489 | 271 | 38,962 | 268 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 10,995 | 68 | 13,238 | 101 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 9,768 | 46 | 23,349 | 113 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 8,349 | 114 | 5,729 | 9 | |||||||||||||||||||||||||||||||||||||
Other consumer | 119 | 1 | — | — | |||||||||||||||||||||||||||||||||||||
Total without a Related Allowance Recorded | 56,720 | 500 | 81,278 | 491 | |||||||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 28,503 | 271 | 45,392 | 283 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 10,995 | 68 | 14,022 | 92 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 15,697 | 95 | 27,585 | 132 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 8,449 | 116 | 5,729 | 9 | |||||||||||||||||||||||||||||||||||||
Other consumer | 154 | 2 | — | — | |||||||||||||||||||||||||||||||||||||
Total | $ | 63,798 | $ | 552 | $ | 92,728 | $ | 516 | |||||||||||||||||||||||||||||||||
For the Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Average | Interest | Average | Interest | |||||||||||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | ||||||||||||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | ||||||||||||||||||||||||||||||||||||||
With a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 2,526 | $ | 5 | $ | 5,629 | $ | 209 | |||||||||||||||||||||||||||||||||
Commercial and industrial | — | — | 1,813 | — | |||||||||||||||||||||||||||||||||||||
Commercial construction | 1,976 | 49 | 5,661 | 49 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 62 | — | — | — | |||||||||||||||||||||||||||||||||||||
Other consumer | 21 | 3 | — | — | |||||||||||||||||||||||||||||||||||||
Total with a Related Allowance Recorded | 4,585 | 57 | 13,103 | 258 | |||||||||||||||||||||||||||||||||||||
Without a related allowance recorded: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 29,951 | 330 | 43,332 | 915 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 11,964 | 203 | 11,725 | 265 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 14,492 | 271 | 22,926 | 450 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 8,912 | 693 | 6,489 | 70 | |||||||||||||||||||||||||||||||||||||
Other consumer | 110 | 4 | — | — | |||||||||||||||||||||||||||||||||||||
Total without a Related Allowance Recorded | 65,429 | 1,501 | 84,472 | 1,700 | |||||||||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate | 32,477 | 335 | 48,961 | 1,124 | |||||||||||||||||||||||||||||||||||||
Commercial and industrial | 11,964 | 203 | 13,538 | 265 | |||||||||||||||||||||||||||||||||||||
Commercial construction | 16,468 | 320 | 28,587 | 499 | |||||||||||||||||||||||||||||||||||||
Consumer real estate | 8,974 | 693 | 6,489 | 70 | |||||||||||||||||||||||||||||||||||||
Other consumer | 131 | 7 | — | — | |||||||||||||||||||||||||||||||||||||
Total | $ | 70,014 | $ | 1,558 | $ | 97,575 | $ | 1,958 | |||||||||||||||||||||||||||||||||
Summary of Allowance for Loan Losses | The following tables detail activity in the ALL for the periods presented: | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | Commercial and | Commercial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||
Real Estate | Industrial | Construction | Real Estate | Consumer | Loans | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 23,484 | $ | 9,123 | $ | 5,812 | $ | 6,655 | $ | 1,031 | $ | 46,105 | |||||||||||||||||||||||||||||
Charge-offs | (840 | ) | (759 | ) | (480 | ) | (585 | ) | (327 | ) | (2,991 | ) | |||||||||||||||||||||||||||||
Recoveries | 617 | 167 | 481 | 122 | 63 | 1,450 | |||||||||||||||||||||||||||||||||||
Net (Charge-offs)/ Recoveries | (223 | ) | (592 | ) | 1 | (463 | ) | (264 | ) | (1,541 | ) | ||||||||||||||||||||||||||||||
Provision for loan losses | (5,572 | ) | 6,268 | 2,186 | 185 | 352 | 3,419 | ||||||||||||||||||||||||||||||||||
Balance at End of Period | $ | 17,689 | $ | 14,799 | $ | 7,999 | $ | 6,377 | $ | 1,119 | $ | 47,983 | |||||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | Commercial and | Commercial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||
Real Estate | Industrial | Construction | Real Estate | Consumer | Loans | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 24,696 | $ | 11,874 | $ | 5,938 | $ | 3,401 | $ | 780 | $ | 46,689 | |||||||||||||||||||||||||||||
Charge-offs | (2,344 | ) | (520 | ) | (970 | ) | (268 | ) | (278 | ) | (4,380 | ) | |||||||||||||||||||||||||||||
Recoveries | 570 | 609 | 395 | 18 | 73 | 1,665 | |||||||||||||||||||||||||||||||||||
Net (Charge-offs)/ Recoveries | (1,774 | ) | 89 | (575 | ) | (250 | ) | (205 | ) | (2,715 | ) | ||||||||||||||||||||||||||||||
Provision for loan losses | 1,283 | (3,216 | ) | 3,162 | 752 | 324 | 2,305 | ||||||||||||||||||||||||||||||||||
Balance at End of Period | $ | 24,205 | $ | 8,747 | $ | 8,525 | $ | 3,903 | $ | 899 | $ | 46,279 | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | Commercial and | Commercial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||
Real Estate | Industrial | Construction | Real Estate | Consumer | Loans | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 25,246 | $ | 7,759 | $ | 7,500 | $ | 5,058 | $ | 921 | $ | 46,484 | |||||||||||||||||||||||||||||
Charge-offs | (3,649 | ) | (2,682 | ) | (923 | ) | (1,822 | ) | (978 | ) | (10,054 | ) | |||||||||||||||||||||||||||||
Recoveries | 2,939 | 457 | 536 | 630 | 242 | 4,804 | |||||||||||||||||||||||||||||||||||
Net (Charge-offs)/ Recoveries | (710 | ) | (2,225 | ) | (387 | ) | (1,192 | ) | (736 | ) | (5,250 | ) | |||||||||||||||||||||||||||||
Provision for loan losses | (6,847 | ) | 9,265 | 886 | 2,511 | 934 | 6,749 | ||||||||||||||||||||||||||||||||||
Balance at End of Period | $ | 17,689 | $ | 14,799 | $ | 7,999 | $ | 6,377 | $ | 1,119 | $ | 47,983 | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Commercial | Commercial and | Commercial | Consumer | Other | Total | |||||||||||||||||||||||||||||||||||
Real Estate | Industrial | Construction | Real Estate | Consumer | Loans | ||||||||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 29,804 | $ | 11,274 | $ | 3,703 | $ | 3,166 | $ | 894 | $ | 48,841 | |||||||||||||||||||||||||||||
Charge-offs | (7,918 | ) | (4,488 | ) | (9,261 | ) | (1,228 | ) | (756 | ) | (23,651 | ) | |||||||||||||||||||||||||||||
Recoveries | 748 | 857 | 494 | 127 | 263 | 2,489 | |||||||||||||||||||||||||||||||||||
Net (Charge-offs)/ Recoveries | (7,170 | ) | (3,631 | ) | (8,767 | ) | (1,101 | ) | (493 | ) | (21,162 | ) | |||||||||||||||||||||||||||||
Provision for loan losses | 1,571 | 1,104 | 13,589 | 1,838 | 498 | 18,600 | |||||||||||||||||||||||||||||||||||
Balance at End of Period | $ | 24,205 | $ | 8,747 | $ | 8,525 | $ | 3,903 | $ | 899 | $ | 46,279 | |||||||||||||||||||||||||||||
Summary of Allowance for Loan Losses and Recorded Investments | The following tables present the ALL and recorded investments in loans by category as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | Portfolio Loans | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Individually | Collectively | Total | Individually | Collectively | Total | |||||||||||||||||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 64 | $ | 17,625 | $ | 17,689 | $ | 28,323 | $ | 1,539,491 | $ | 1,567,814 | |||||||||||||||||||||||||||||
Commercial and industrial | — | 14,799 | 14,799 | 10,128 | 817,571 | 827,699 | |||||||||||||||||||||||||||||||||||
Commercial construction | 3,139 | 4,860 | 7,999 | 15,258 | 136,948 | 152,206 | |||||||||||||||||||||||||||||||||||
Consumer real estate | 56 | 6,321 | 6,377 | 8,354 | 886,219 | 894,573 | |||||||||||||||||||||||||||||||||||
Other consumer | 19 | 1,100 | 1,119 | 148 | 68,895 | 69,043 | |||||||||||||||||||||||||||||||||||
Total | $ | 3,278 | $ | 44,705 | $ | 47,983 | $ | 62,211 | $ | 3,449,124 | $ | 3,511,335 | |||||||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | Portfolio Loans | ||||||||||||||||||||||||||||||||||||||||
(dollars in thousands) | Individually | Collectively | Total | Individually | Collectively | Total | |||||||||||||||||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | ||||||||||||||||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | ||||||||||||||||||||||||||||||||||||||
Commercial real estate | $ | 1,226 | $ | 24,020 | $ | 25,246 | $ | 39,994 | $ | 1,412,139 | $ | 1,452,133 | |||||||||||||||||||||||||||||
Commercial and industrial | 1,002 | 6,757 | 7,759 | 13,283 | 778,113 | 791,396 | |||||||||||||||||||||||||||||||||||
Commercial construction | 3 | 7,497 | 7,500 | 18,512 | 149,631 | 168,143 | |||||||||||||||||||||||||||||||||||
Consumer real estate | — | 5,058 | 5,058 | 10,827 | 850,248 | 861,075 | |||||||||||||||||||||||||||||||||||
Other consumer | — | 921 | 921 | 25 | 73,850 | 73,875 | |||||||||||||||||||||||||||||||||||
Total | $ | 2,231 | $ | 44,253 | $ | 46,484 | $ | 82,641 | $ | 3,263,981 | $ | 3,346,622 | |||||||||||||||||||||||||||||
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |||||||||||||||||
Value of Derivative Assets and Derivative Liabilities | The following table indicates the amounts representing the value of derivative assets and derivative liabilities as of the dates presented: | ||||||||||||||||
Derivatives | Derivatives | ||||||||||||||||
(included in Other Assets) | (included in Other Liabilities) | ||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | September 30, 2013 | December 31, 2012 | |||||||||||||
Derivatives not Designated as Hedging Instruments | |||||||||||||||||
Interest Rate Swap Contracts—Commercial Loans | |||||||||||||||||
Fair value | $ | 16,084 | $ | 23,748 | $ | 16,025 | $ | 23,522 | |||||||||
Notional amount | 257,678 | 227,532 | 257,678 | 227,532 | |||||||||||||
Collateral posted | — | — | 12,978 | 19,595 | |||||||||||||
Interest Rate Lock Commitments—Mortgage Loans | |||||||||||||||||
Fair value | 206 | 467 | — | — | |||||||||||||
Notional amount | 4,670 | 14,287 | — | — | |||||||||||||
Forward Sale Contracts—Mortgage Loans | |||||||||||||||||
Fair value | — | — | 162 | 48 | |||||||||||||
Notional amount | — | — | 7,425 | 14,100 | |||||||||||||
Schedule of Gross Amounts of Derivative Assets and Derivative Liabilities | The following table indicates the gross amounts of derivative assets and derivative liabilities, the amounts offset, and the carrying values in the Consolidated Balance Sheets as of the dates presented: | ||||||||||||||||
Derivatives | Derivatives | ||||||||||||||||
(included in Other Assets) | (included in Other Liabilities) | ||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | September 30, 2013 | December 31, 2012 | |||||||||||||
Derivatives not Designated as Hedging Instruments | |||||||||||||||||
Gross amounts recognized | $ | 16,445 | $ | 24,262 | $ | 16,386 | $ | 24,036 | |||||||||
Gross amounts offset | (361 | ) | (514 | ) | (361 | ) | (514 | ) | |||||||||
Net amounts presented in the Consolidated Balance Sheets | 16,084 | 23,748 | 16,025 | 23,522 | |||||||||||||
Gross amounts not offset(1) | — | — | (12,978 | ) | (19,595 | ) | |||||||||||
Net Amount | $ | 16,084 | $ | 23,748 | $ | 3,047 | $ | 3,927 | |||||||||
(1) Amounts represent posted collateral. | |||||||||||||||||
Amount of Gain or Loss Recognized in Income on Derivatives | The following table indicates the gain or loss recognized in income on derivatives for the periods presented: | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives not Designated as Hedging Instruments | |||||||||||||||||
Interest rate swap contracts—commercial loans | $ | (10 | ) | $ | (19 | ) | $ | (166 | ) | $ | 164 | ||||||
Interest rate lock commitments—mortgage loans | 231 | 257 | (261 | ) | 629 | ||||||||||||
Forward sale contracts—mortgage loans | (519 | ) | (101 | ) | (114 | ) | (212 | ) | |||||||||
Total Derivative (Loss) Gain | $ | (298 | ) | $ | 137 | $ | (541 | ) | $ | 581 |
Borrowings_Tables
Borrowings (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||
Summary of Information Pertaining to Borrowings | Information pertaining to borrowings is summarized in the table below as of the dates presented: | ||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
(dollars in thousands) | Balance | Weighted | Balance | Weighted | |||||||||||||
Average Rate | Average Rate | ||||||||||||||||
Short-term borrowings | |||||||||||||||||
Securities sold under repurchase agreements | $ | 33,290 | 0.01 | % | $ | 62,582 | 0.2 | % | |||||||||
Short-term borrowings | 175,000 | 0.28 | % | 75,000 | 0.19 | % | |||||||||||
Total short-term borrowings | 208,290 | 0.24 | % | 137,582 | 0.19 | % | |||||||||||
Long-term borrowings | |||||||||||||||||
Junior subordinated debt securities | 45,619 | 2.71 | % | 90,619 | 3.01 | % | |||||||||||
Other long-term borrowings | 22,390 | 3.01 | % | 34,101 | 3.17 | % | |||||||||||
Total long-term borrowings | 68,009 | 2.81 | % | 124,720 | 3.05 | % | |||||||||||
Total Borrowings | $ | 276,299 | 0.87 | % | $ | 262,302 | 1.55 | % |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Commitments And Contingencies Disclosure [Abstract] | |||||||||
Commitments and Letters of Credit | The following table sets forth the commitments and letters of credit as of the dates presented: | ||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||
Commitments to extend credit | $ | 1,042,572 | $ | 874,137 | |||||
Standby letters of credit | 80,653 | 95,399 | |||||||
Total | $ | 1,123,225 | $ | 969,536 | |||||
Other_Comprehensive_Income_Tab
Other Comprehensive Income (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||
Other Comprehensive Income | The following tables show the tax effects of the components of other comprehensive income for the periods presented: | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | ||||||||||||||||||||||||
(dollars in thousands) | Pre-Tax | Tax | Net of Tax | Pre-Tax | Tax | Net of Tax | |||||||||||||||||||
Amount | (Expense) | Amount | Amount | (Expense) | Amount | ||||||||||||||||||||
Benefit | Benefit | ||||||||||||||||||||||||
Change in unrealized gains/losses on securities available-for-sale | $ | 335 | $ | (117 | ) | $ | 218 | $ | 4,373 | $ | (1,530 | ) | $ | 2,843 | |||||||||||
Reclassification adjustment for net (gains)/losses on securities available-for-sale included in net income(1) | (3 | ) | 1 | (2 | ) | (2,170 | ) | 760 | (1,410 | ) | |||||||||||||||
Adjustment to funded status of employee benefit plans | 631 | (220 | ) | 411 | 750 | (264 | ) | 486 | |||||||||||||||||
Other Comprehensive Income (Loss) | $ | 963 | $ | (336 | ) | $ | 627 | $ | 2,953 | $ | (1,034 | ) | $ | 1,919 | |||||||||||
(1) Reclassification adjustments are comprised of realized security gains. The gains have been reclassified out of accumulated other comprehensive income and have affected certain lines in the consolidated statement of comprehensive income as follows; the pre-tax amount is included in securities gains-net, the tax expense amount is included in the provision for income taxes and the net of tax amount is included in net income. | |||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||
(dollars in thousands) | Pre-Tax | Tax | Net of Tax | Pre-Tax | Tax | Net of Tax | |||||||||||||||||||
Amount | (Expense) | Amount | Amount | (Expense) | Amount | ||||||||||||||||||||
Benefit | Benefit | ||||||||||||||||||||||||
Change in unrealized gains/losses on securities available-for-sale | $ | (13,494 | ) | $ | 4,723 | $ | (8,771 | ) | $ | 5,188 | $ | (1,815 | ) | $ | 3,373 | ||||||||||
Reclassification adjustment for net (gains)/losses on securities available-for-sale included in net income(1) | (5 | ) | 2 | (3 | ) | (3,016 | ) | 1,056 | (1,960 | ) | |||||||||||||||
Adjustment to funded status of employee benefit plans | 1,827 | (639 | ) | 1,188 | 1,887 | (662 | ) | 1,225 | |||||||||||||||||
Other Comprehensive Income (Loss) | $ | (11,672 | ) | $ | 4,086 | $ | (7,586 | ) | $ | 4,059 | $ | (1,421 | ) | $ | 2,638 | ||||||||||
(1) Reclassification adjustments are comprised of realized security gains. The gains have been reclassified out of accumulated other comprehensive income and have affected certain lines in the consolidated statement of comprehensive income as follows; the pre-tax amount is included in securities gains-net, the tax expense amount is included in the provision for income taxes and the net of tax amount is included in net income. | |||||||||||||||||||||||||
Employee_Benefits_Tables
Employee Benefits (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | |||||||||||||||||
Components of Net Periodic Pension Cost and Other Changes in Plan Assets and Benefit | The following table summarizes the components of net periodic pension cost and other changes in plan assets and benefit obligation recognized in other comprehensive gain/loss for the periods presented: | ||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(dollars in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Components of Net Periodic Pension Cost | |||||||||||||||||
Service cost—benefits earned during the period | $ | 659 | $ | 636 | $ | 2,075 | $ | 2,090 | |||||||||
Interest cost on projected benefit obligation | 997 | 1,117 | 2,989 | 3,269 | |||||||||||||
Expected return on plan assets | (1,526 | ) | (1,364 | ) | (4,656 | ) | (4,172 | ) | |||||||||
Amortization of prior service cost (credit) | (34 | ) | (34 | ) | (102 | ) | (99 | ) | |||||||||
Recognized net actuarial loss | 642 | 711 | 1,818 | 1,852 | |||||||||||||
Net Periodic Pension Expense | $ | 738 | $ | 1,066 | $ | 2,124 | $ | 2,940 | |||||||||
Segments_Tables
Segments (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||
Total Assets by Reportable Operating Segment | The following table represents total assets by reportable operating segment as of the dates presented: | ||||||||||||||||||||
(dollars in thousands) | September 30, 2013 | December 31, 2012 | |||||||||||||||||||
Community Banking | $ | 4,579,528 | $ | 4,518,799 | |||||||||||||||||
Insurance | 7,358 | 6,697 | |||||||||||||||||||
Wealth Management | 1,242 | 1,206 | |||||||||||||||||||
Total Assets | $ | 4,588,128 | $ | 4,526,702 | |||||||||||||||||
Financial Information of Segments | The information provided under the caption “Eliminations” represents operations not considered to be reportable segments and/or general operating expenses and eliminations and adjustments, which are necessary for purposes of reconciling to the Consolidated Financial Statements. | ||||||||||||||||||||
Three Months Ended September 30, 2013 | |||||||||||||||||||||
(dollars in thousands) | Community | Insurance | Wealth | Eliminations | Consolidated | ||||||||||||||||
Banking | Management | ||||||||||||||||||||
Interest income | $ | 38,540 | $ | — | $ | 137 | $ | (96 | ) | $ | 38,581 | ||||||||||
Interest expense | 3,949 | — | — | (642 | ) | 3,307 | |||||||||||||||
Net interest income (expense) | 34,591 | — | 137 | 546 | 35,274 | ||||||||||||||||
Provision for loan losses | 3,419 | — | — | — | 3,419 | ||||||||||||||||
Noninterest income | 8,321 | 1,459 | 2,744 | 18 | 12,542 | ||||||||||||||||
Noninterest expense | 22,252 | 1,357 | 2,379 | 741 | 26,729 | ||||||||||||||||
Depreciation expense | 816 | 12 | 7 | — | 835 | ||||||||||||||||
Amortization of intangible assets | 355 | 13 | 11 | — | 379 | ||||||||||||||||
Provision (benefit) for income taxes | 4,179 | 27 | 178 | (177 | ) | 4,207 | |||||||||||||||
Net Income | $ | 11,891 | $ | 50 | $ | 306 | $ | — | $ | 12,247 | |||||||||||
Three Months Ended September 30, 2012 | |||||||||||||||||||||
(dollars in thousands) | Community | Insurance | Wealth | Eliminations | Consolidated | ||||||||||||||||
Banking | Management | ||||||||||||||||||||
Interest income | $ | 38,715 | $ | — | $ | 119 | $ | (14 | ) | $ | 38,820 | ||||||||||
Interest expense | 5,340 | — | — | (315 | ) | 5,025 | |||||||||||||||
Net interest income (expense) | 33,375 | — | 119 | 301 | 33,795 | ||||||||||||||||
Provision for loan losses | 2,305 | — | — | — | 2,305 | ||||||||||||||||
Noninterest income | 10,731 | 1,481 | 2,394 | 140 | 14,746 | ||||||||||||||||
Noninterest expense | 24,586 | 1,398 | 2,401 | 1,228 | 29,613 | ||||||||||||||||
Depreciation expense | 968 | 12 | 8 | — | 988 | ||||||||||||||||
Amortization of intangible assets | 391 | 13 | 13 | — | 417 | ||||||||||||||||
Provision (benefit) for income taxes | 3,333 | 21 | 56 | (787 | ) | 2,623 | |||||||||||||||
Net Income | $ | 12,523 | $ | 37 | $ | 35 | $ | — | $ | 12,595 | |||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||||||||||
(dollars in thousands) | Community | Insurance | Wealth | Eliminations | Consolidated | ||||||||||||||||
Banking | Management | ||||||||||||||||||||
Interest income | $ | 114,733 | $ | 1 | $ | 411 | $ | (168 | ) | $ | 114,977 | ||||||||||
Interest expense | 13,403 | — | — | (1,965 | ) | 11,438 | |||||||||||||||
Net interest income (expense) | 101,330 | 1 | 411 | 1,797 | 103,539 | ||||||||||||||||
Provision for loan losses | 6,749 | — | — | — | 6,749 | ||||||||||||||||
Noninterest income | 27,144 | 4,406 | 8,130 | 535 | 40,215 | ||||||||||||||||
Noninterest expense | 68,680 | 3,910 | 7,257 | 4,208 | 84,055 | ||||||||||||||||
Depreciation expense | 2,609 | 35 | 23 | — | 2,667 | ||||||||||||||||
Amortization of intangible assets | 1,148 | 38 | 37 | — | 1,223 | ||||||||||||||||
Provision (benefit) for income taxes | 11,617 | 148 | 491 | (1,876 | ) | 10,380 | |||||||||||||||
Net Income | $ | 37,671 | $ | 276 | $ | 733 | $ | — | $ | 38,680 | |||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||||||||||
(dollars in thousands) | Community | Insurance | Wealth | Eliminations | Consolidated | ||||||||||||||||
Banking | Management | ||||||||||||||||||||
Interest income | $ | 116,968 | $ | 1 | $ | 325 | $ | 36 | $ | 117,330 | |||||||||||
Interest expense | 17,244 | — | — | (849 | ) | 16,395 | |||||||||||||||
Net interest income (expense) | 99,724 | 1 | 325 | 885 | 100,935 | ||||||||||||||||
Provision for loan losses | 18,600 | — | — | — | 18,600 | ||||||||||||||||
Noninterest income | 28,230 | 4,196 | 7,375 | 546 | 40,347 | ||||||||||||||||
Noninterest expense | 73,850 | 4,119 | 7,037 | 3,917 | 88,923 | ||||||||||||||||
Depreciation expense | 2,887 | 37 | 23 | — | 2,947 | ||||||||||||||||
Amortization of intangible assets | 1,193 | 39 | 44 | — | 1,276 | ||||||||||||||||
Provision (benefit) for income taxes | 7,057 | 1 | 289 | (2,486 | ) | 4,861 | |||||||||||||||
Net Income | $ | 24,367 | $ | 1 | $ | 307 | $ | — | $ | 24,675 | |||||||||||
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) | Sep. 30, 2013 |
Minimum [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Percentage of outstanding common stock of investees accounted for using equity method of accounting | 20.00% |
Maximum [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
Percentage of outstanding common stock of investees accounted for using equity method of accounting | 50.00% |
Earnings_Per_Share_Reconciles_
Earnings Per Share - Reconciles Numerators and Denominators of Basic Earnings Per Share with Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Numerator for Earnings per Share-Basic: | ||||
Net income | $12,247 | $12,595 | $38,680 | $24,675 |
Less: Income allocated to participating shares | 33 | 50 | 114 | 107 |
Net Income Allocated to Shareholders | 12,214 | 12,545 | 38,566 | 24,568 |
Numerator for Earnings per Share-Diluted: | ||||
Net income | 12,247 | 12,595 | 38,680 | 24,675 |
Net Income Available to Shareholders | $12,247 | $12,595 | $38,680 | $24,675 |
Denominators: | ||||
Weighted Average Shares Outstanding-Basic | 29,658,065 | 29,244,588 | 29,644,646 | 28,740,582 |
Add: Dilutive potential shares | 27,535 | 32,644 | 35,132 | 33,614 |
Denominator for Treasury Stock Method-Diluted | 29,685,600 | 29,277,232 | 29,679,778 | 28,774,196 |
Weighted Average Shares Outstanding-Basic | 29,658,065 | 29,244,588 | 29,644,646 | 28,740,582 |
Add: Average participating shares outstanding | 80,240 | 116,402 | 87,725 | 125,240 |
Denominator for Two-Class Method-Diluted | 29,738,305 | 29,360,990 | 29,732,371 | 28,865,822 |
Earnings per share-basic | $0.41 | $0.43 | $1.30 | $0.85 |
Earnings per share-diluted | $0.41 | $0.43 | $1.30 | $0.85 |
Warrants [Member] | ||||
Denominators: | ||||
Anti-dilutive excluded from dilutive potential shares | 517,012 | 517,012 | 517,012 | 517,012 |
Stock Options [Member] | ||||
Denominators: | ||||
Anti-dilutive excluded from dilutive potential shares | 612,768 | 748,964 | 632,481 | 751,492 |
Restricted Stock [Member] | ||||
Denominators: | ||||
Anti-dilutive excluded from dilutive potential shares | 52,705 | 48,717 | 52,593 | 56,585 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Loans | Loans | Loans | Level 3 [Member] | Level 3 [Member] | ||
Loans Receivable [Line Items] | ||||||
Fair value of asset transfer from Level 1 to Level 2 on recurring basis | $0 | $0 | ||||
Fair value of asset transfer from Level 2 to Level 1 on recurring basis | 0 | 0 | ||||
Fair value of liabilities transfer from Level 1 to Level 2 on recurring basis | 0 | 0 | ||||
Fair value of liabilities transfer from Level 2 to Level 1 recurring basis | 0 | 0 | ||||
Transfers out of Level 3 | 300,000 | -344,000 | ||||
Liabilities measured at fair value on a recurring basis | 0 | 0 | ||||
Number of loans, held for sale | 0 | 0 | 0 | |||
Liabilities measured at estimated fair value on nonrecurring basis | $0 | $0 | $0 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Obligations of U.S. Government Corporations and Agencies [Member] | Obligations of U.S. Government Corporations and Agencies [Member] | Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Obligations of States and Political Subdivisions [Member] | Obligations of States and Political Subdivisions [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 1 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 2 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | ||
Obligations of U.S. Government Corporations and Agencies [Member] | Obligations of U.S. Government Corporations and Agencies [Member] | Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Obligations of States and Political Subdivisions [Member] | Obligations of States and Political Subdivisions [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Interest Rate Swaps [Member] | Interest Rate Swaps [Member] | Interest Rate Lock Commitments [Member] | Interest Rate Lock Commitments [Member] | Forward Sale Contracts [Member] | Forward Sale Contracts [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | Fair Value Measurements, Recurring [Member] | |||||||||||||||||||
Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Obligations of U.S. Government Corporations and Agencies [Member] | Obligations of U.S. Government Corporations and Agencies [Member] | Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Obligations of States and Political Subdivisions [Member] | Obligations of States and Political Subdivisions [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Interest Rate Swaps [Member] | Interest Rate Swaps [Member] | Interest Rate Lock Commitments [Member] | Interest Rate Lock Commitments [Member] | Forward Sale Contracts [Member] | Forward Sale Contracts [Member] | Obligations of U.S. Government Corporations and Agencies [Member] | Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | Obligations of States and Political Subdivisions [Member] | Marketable Equity Securities [Member] | Marketable Equity Securities [Member] | Interest Rate Swaps [Member] | Interest Rate Lock Commitments [Member] | Forward Sale Contracts [Member] | |||||||||||||||||||||||||||||||||||||||||||
ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total securities available-for-sale | $488,162 | $452,266 | $237,398 | $212,066 | $44,877 | $57,896 | $51,250 | $50,623 | $30,680 | $10,158 | $114,817 | $112,767 | $9,140 | $8,756 | $488,162 | $452,266 | $237,398 | $212,066 | $44,877 | $57,896 | $51,250 | $50,623 | $30,680 | $10,158 | $114,817 | $112,767 | $9,140 | $8,756 | $183 | $140 | $183 | $140 | $487,979 | $451,826 | $237,398 | $212,066 | $44,877 | $57,896 | $51,250 | $50,623 | $30,680 | $10,158 | $114,817 | $112,767 | $8,957 | $8,316 | $300 | $300 | ||||||||||||||||||||||||
Trading securities held in a Rabbi Trust | 2,545 | 2,223 | 2,545 | 2,223 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total securities | 490,707 | 454,489 | 2,728 | 2,363 | 487,979 | 451,826 | 300 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative financial assets | 16,084 | 23,748 | 206 | 467 | 16,084 | 23,748 | 206 | 467 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | 506,997 | 478,704 | 2,728 | 2,363 | 504,269 | 476,041 | 300 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative financial liabilities | 16,025 | 23,522 | 162 | 48 | 16,025 | 23,522 | 162 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | $16,187 | $23,570 | $16,187 | $23,570 | $0 | $0 |
Fair_Value_Measurements_Change
Fair Value Measurements - Changes in Assets Classified as Level 3 in Fair Value Hierarchy (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value Disclosures [Abstract] | |||||
Balance at beginning of period | $556 | $300 | $462 | ||
Total gains included in other comprehensive income | 19 | 44 | 50 | ||
Net purchases, sales, issuances and settlements | -300 | -237 | |||
Transfers out of Level 3 | 300 | -344 | |||
Balance at end of period | $275 | $275 |
Fair_Value_Measurements_Assets1
Fair Value Measurements - Assets Measured at Estimated Fair Value on Nonrecurring Basis by Fair Value Hierarchy (Detail) (Fair Value, Measurements, Nonrecurring [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Impaired loans | $23,482 | $44,059 |
Other real estate owned | 221 | 585 |
Mortgage servicing rights | 2,960 | 2,106 |
Total Assets | 26,663 | 46,750 |
Level 1 [Member] | ||
ASSETS | ||
Impaired loans | ||
Other real estate owned | ||
Mortgage servicing rights | ||
Total Assets | ||
Level 2 [Member] | ||
ASSETS | ||
Impaired loans | ||
Other real estate owned | ||
Mortgage servicing rights | ||
Total Assets | ||
Level 3 [Member] | ||
ASSETS | ||
Impaired loans | 23,482 | 44,059 |
Other real estate owned | 221 | 585 |
Mortgage servicing rights | 2,960 | 2,106 |
Total Assets | $26,663 | $46,750 |
Fair_Value_Measurements_Carryi
Fair Value Measurements - Carrying Values and Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Securities available-for-sale | $488,162 | $452,266 |
FHLB and other restricted stock | 15,049 | 15,315 |
LIABILITIES | ||
Junior subordinated debt securities | 45,619 | 90,619 |
Carrying Value [Member] | ||
ASSETS | ||
Cash and due from banks, including interest-bearing deposits | 234,928 | 337,711 |
Securities available-for-sale | 488,162 | 452,266 |
Loans held for sale | 3,695 | 22,499 |
Portfolio loans, net of unearned income | 3,511,335 | 3,346,622 |
Bank owned life insurance | 60,001 | 58,619 |
FHLB and other restricted stock | 15,049 | 15,315 |
Trading securities held in a Rabbi Trust | 2,545 | 2,223 |
Mortgage servicing rights | 2,820 | 2,106 |
LIABILITIES | ||
Deposits | 3,694,203 | 3,638,428 |
Securities sold under repurchase agreements | 33,290 | 62,582 |
Short-term borrowings | 175,000 | 75,000 |
Long-term borrowings | 22,390 | 34,101 |
Junior subordinated debt securities | 45,619 | 90,619 |
Carrying Value [Member] | Interest Rate Swaps [Member] | ||
ASSETS | ||
Derivative financial assets | 16,084 | 23,748 |
LIABILITIES | ||
Derivative financial liabilities | 16,025 | 23,522 |
Carrying Value [Member] | Interest Rate Lock Commitments [Member] | ||
ASSETS | ||
Derivative financial assets | 206 | 467 |
Carrying Value [Member] | Forward Sale Contracts [Member] | ||
LIABILITIES | ||
Derivative financial liabilities | 162 | 48 |
Fair Value Measurements [Member] | ||
ASSETS | ||
Cash and due from banks, including interest-bearing deposits | 234,928 | 337,711 |
Securities available-for-sale | 488,162 | 452,266 |
Loans held for sale | 3,829 | 22,601 |
Portfolio loans, net of unearned income | 3,479,150 | 3,347,602 |
Bank owned life insurance | 60,001 | 58,619 |
FHLB and other restricted stock | 15,049 | 15,315 |
Trading securities held in a Rabbi Trust | 2,545 | 2,223 |
Mortgage servicing rights | 2,960 | 2,106 |
LIABILITIES | ||
Deposits | 3,696,214 | 3,643,683 |
Securities sold under repurchase agreements | 33,290 | 62,582 |
Short-term borrowings | 175,000 | 75,000 |
Long-term borrowings | 23,718 | 36,235 |
Junior subordinated debt securities | 45,619 | 90,619 |
Fair Value Measurements [Member] | Level 1 [Member] | ||
ASSETS | ||
Cash and due from banks, including interest-bearing deposits | 234,928 | 337,711 |
Securities available-for-sale | 183 | 140 |
Trading securities held in a Rabbi Trust | 2,545 | 2,223 |
Mortgage servicing rights | ||
Fair Value Measurements [Member] | Level 2 [Member] | ||
ASSETS | ||
Securities available-for-sale | 487,979 | 451,826 |
Bank owned life insurance | 60,001 | 58,619 |
Mortgage servicing rights | ||
Fair Value Measurements [Member] | Level 3 [Member] | ||
ASSETS | ||
Securities available-for-sale | 300 | |
Loans held for sale | 3,829 | 22,601 |
Portfolio loans, net of unearned income | 3,479,150 | 3,347,602 |
FHLB and other restricted stock | 15,049 | 15,315 |
Mortgage servicing rights | 2,960 | 2,106 |
LIABILITIES | ||
Deposits | 3,696,214 | 3,643,683 |
Securities sold under repurchase agreements | 33,290 | 62,582 |
Short-term borrowings | 175,000 | 75,000 |
Long-term borrowings | 23,718 | 36,235 |
Junior subordinated debt securities | 45,619 | 90,619 |
Fair Value Measurements [Member] | Interest Rate Swaps [Member] | ||
ASSETS | ||
Derivative financial assets | 16,084 | 23,748 |
LIABILITIES | ||
Derivative financial liabilities | 16,025 | 23,522 |
Fair Value Measurements [Member] | Interest Rate Swaps [Member] | Level 2 [Member] | ||
ASSETS | ||
Derivative financial assets | 16,084 | 23,748 |
LIABILITIES | ||
Derivative financial liabilities | 16,025 | 23,522 |
Fair Value Measurements [Member] | Interest Rate Lock Commitments [Member] | ||
ASSETS | ||
Derivative financial assets | 206 | 467 |
Fair Value Measurements [Member] | Interest Rate Lock Commitments [Member] | Level 2 [Member] | ||
ASSETS | ||
Derivative financial assets | 206 | 467 |
Fair Value Measurements [Member] | Forward Sale Contracts [Member] | ||
LIABILITIES | ||
Derivative financial liabilities | 162 | 48 |
Fair Value Measurements [Member] | Forward Sale Contracts [Member] | Level 2 [Member] | ||
LIABILITIES | ||
Derivative financial liabilities | $162 | $48 |
Securities_AvailableforSale_Co
Securities Available-for-Sale - Composition of Securities Available-for-Sale (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $485,700 | $436,305 |
Gross Unrealized Gains | 8,245 | 16,077 |
Gross Unrealized Losses | -5,783 | -116 |
Fair Value | 488,162 | 452,266 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 236,739 | 207,229 |
Gross Unrealized Gains | 2,614 | 4,890 |
Gross Unrealized Losses | -1,955 | -53 |
Fair Value | 237,398 | 212,066 |
Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 44,474 | 56,085 |
Gross Unrealized Gains | 607 | 1,811 |
Gross Unrealized Losses | -204 | |
Fair Value | 44,877 | 57,896 |
Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 50,021 | 47,279 |
Gross Unrealized Gains | 1,759 | 3,344 |
Gross Unrealized Losses | -530 | |
Fair Value | 51,250 | 50,623 |
Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 31,524 | 10,129 |
Gross Unrealized Gains | 29 | |
Gross Unrealized Losses | -844 | |
Fair Value | 30,680 | 10,158 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 115,362 | 107,911 |
Gross Unrealized Gains | 1,705 | 4,908 |
Gross Unrealized Losses | -2,250 | -52 |
Fair Value | 114,817 | 112,767 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 478,120 | 428,633 |
Gross Unrealized Gains | 6,685 | 14,982 |
Gross Unrealized Losses | -5,783 | -105 |
Fair Value | 479,022 | 443,510 |
Marketable Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 7,580 | 7,672 |
Gross Unrealized Gains | 1,560 | 1,095 |
Gross Unrealized Losses | -11 | |
Fair Value | $9,140 | $8,756 |
Securities_AvailableforSale_Sc
Securities Available-for-Sale - Schedule of Gross and Net Realized Gains and Losses on Sale of Securities (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Investments Debt And Equity Securities [Abstract] | ||||
Gross realized gains | $3 | $2,170 | $5 | $3,027 |
Gross realized losses | 11 | |||
Net Realized Gains | $3 | $2,170 | $5 | $3,016 |
Securities_AvailableforSale_Fa
Securities Available-for-Sale - Fair Value and Age of Gross Unrealized Losses by Investment Category (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Less Than 12 Months, Fair Value | $244,528 | $22,883 |
Available-for-sale Securities, Less Than 12 Months, Unrealized Losses | -5,783 | -116 |
Available-for-sale Securities, 12 Months or More, Fair Value | ||
Available-for-sale Securities, 12 Months or More, Unrealized Losses | ||
Available-for-sale Securities, Fair Value, Total | 244,528 | 22,883 |
Available-for-sale Securities, Unrealized Losses, Total | -5,783 | -116 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Less Than 12 Months, Fair Value | 115,358 | 11,370 |
Available-for-sale Securities, Less Than 12 Months, Unrealized Losses | -1,955 | -53 |
Available-for-sale Securities, 12 Months or More, Fair Value | ||
Available-for-sale Securities, 12 Months or More, Unrealized Losses | ||
Available-for-sale Securities, Fair Value, Total | 115,358 | 11,370 |
Available-for-sale Securities, Unrealized Losses, Total | -1,955 | -53 |
Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Less Than 12 Months, Fair Value | 19,414 | |
Available-for-sale Securities, Less Than 12 Months, Unrealized Losses | -204 | |
Available-for-sale Securities, 12 Months or More, Fair Value | ||
Available-for-sale Securities, 12 Months or More, Unrealized Losses | ||
Available-for-sale Securities, Fair Value, Total | 19,414 | |
Available-for-sale Securities, Unrealized Losses, Total | -204 | |
Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Less Than 12 Months, Fair Value | 23,386 | |
Available-for-sale Securities, Less Than 12 Months, Unrealized Losses | -530 | |
Available-for-sale Securities, 12 Months or More, Fair Value | ||
Available-for-sale Securities, 12 Months or More, Unrealized Losses | ||
Available-for-sale Securities, Fair Value, Total | 23,386 | |
Available-for-sale Securities, Unrealized Losses, Total | -530 | |
Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Less Than 12 Months, Fair Value | 30,680 | |
Available-for-sale Securities, Less Than 12 Months, Unrealized Losses | -844 | |
Available-for-sale Securities, 12 Months or More, Fair Value | ||
Available-for-sale Securities, 12 Months or More, Unrealized Losses | ||
Available-for-sale Securities, Fair Value, Total | 30,680 | |
Available-for-sale Securities, Unrealized Losses, Total | -844 | |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Less Than 12 Months, Fair Value | 55,690 | 11,285 |
Available-for-sale Securities, Less Than 12 Months, Unrealized Losses | -2,250 | -52 |
Available-for-sale Securities, 12 Months or More, Fair Value | ||
Available-for-sale Securities, 12 Months or More, Unrealized Losses | ||
Available-for-sale Securities, Fair Value, Total | 55,690 | 11,285 |
Available-for-sale Securities, Unrealized Losses, Total | -2,250 | -52 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Less Than 12 Months, Fair Value | 244,528 | 22,655 |
Available-for-sale Securities, Less Than 12 Months, Unrealized Losses | -5,783 | -105 |
Available-for-sale Securities, 12 Months or More, Fair Value | ||
Available-for-sale Securities, 12 Months or More, Unrealized Losses | ||
Available-for-sale Securities, Fair Value, Total | 244,528 | 22,655 |
Available-for-sale Securities, Unrealized Losses, Total | -5,783 | -105 |
Marketable Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities, Less Than 12 Months, Fair Value | 228 | |
Available-for-sale Securities, Less Than 12 Months, Unrealized Losses | -11 | |
Available-for-sale Securities, 12 Months or More, Fair Value | ||
Available-for-sale Securities, 12 Months or More, Unrealized Losses | ||
Available-for-sale Securities, Fair Value, Total | 228 | |
Available-for-sale Securities, Unrealized Losses, Total | $0 | ($11) |
Securities_AvailableforSale_Ad
Securities Available-for-Sale - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of debt securities on which unrealized losses were primarily attributable to changes in interest | 37 | |
Total temporarily impaired securities | $5,783,000 | $116,000 |
Net unrealized gains included in accumulated other comprehensive loss, net of tax | 1,600,000 | 10,400,000 |
Gross unrealized gains, net of taxes | 5,400,000 | 10,500,000 |
Gross unrealized losses, net of taxes | 3,800,000 | 100,000 |
Unrealized losses reclassified out of accumulated other comprehensive income into earnings | 0 | |
Carrying values of securities | 314,300,000 | 307,500,000 |
Marketable Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired securities | $0 | $11,000 |
Securities_AvailableforSale_Am
Securities Available-for-Sale - Amortized Cost and Fair Value of Available-for-Sale Securities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $485,700 | $436,305 |
Fair Value | 488,162 | 452,266 |
Obligations of U.S. Government Corporations and Agencies, and Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Due in one year or less, Amortized Cost | 34,297 | |
Due after one year through five years, Amortized Cost | 154,121 | |
Due after five years through ten years, Amortized Cost | 77,405 | |
Due after ten years, Amortized Cost | 86,278 | |
Available-for-sale Securities, Debt Maturities, Amortized Cost | 352,101 | |
Due in one year or less, Fair Value | 34,537 | |
Due after one year through five years, Fair Value | 156,195 | |
Due after five years through ten years, Fair Value | 76,221 | |
Due after ten years, Fair Value | 85,262 | |
Fair Value, Debt securities | 352,215 | |
Collateralized Mortgage Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 44,474 | 56,085 |
Fair Value | 44,877 | 57,896 |
Residential Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 50,021 | 47,279 |
Fair Value | 51,250 | 50,623 |
Commercial Mortgage-Backed Securities of U.S. Government Corporations and Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 31,524 | 10,129 |
Fair Value | 30,680 | 10,158 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 478,120 | 428,633 |
Fair Value | 479,022 | 443,510 |
Marketable Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 7,580 | 7,672 |
Fair Value | $9,140 | $8,756 |
Loans_and_Loans_Held_for_Sale_1
Loans and Loans Held for Sale - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
SecurityLoan | TDRs | Property | TDRs | ||
TDRs | TDRs | ||||
SecurityLoan | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Unearned income on loans | $1 | $1 | $0.20 | ||
Percentage of commercial loans in total portfolio loans | 73.00% | 73.00% | 72.00% | ||
Maximum concentration of commercial real estate and commercial construction portfolio in loans | 9.00% | 9.00% | 9.00% | ||
Financial receivable trouble debt restructuring reclassified to accruing trouble debt restructuring status | 1.7 | 1.9 | |||
Number of TDRs returned back to accruing status | 3 | 0 | 4 | 0 | |
Number of loan modified | 3 | 8 | |||
Commitment to lend additional funds on TDRs | 0 | 0 | |||
Minimum period of loan payment defaults following restructure for TDRs to be in default | 90 days | ||||
Other real estate owned properties | 8 | ||||
Commercial Real Estate and Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Combined percentage of commercial real estate and commercial construction in total commercial loans | 68.00% | 68.00% | 67.00% | ||
Combined percentage of commercial real estate and commercial construction in total portfolio loans | 49.00% | 49.00% | 48.00% | ||
Out-of-state exposure of combined portfolio | 22.00% | 22.00% | 19.00% | ||
Percentage of total loans out-of-state | 11.00% | 11.00% | 9.00% | ||
Out-of-state exposure of combined portfolio excluding contiguous states | 8.20% | 8.20% | 8.40% | ||
Percentage of total loans out-of-state excluding contiguous states | 4.00% | 4.00% | 4.10% | ||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of loan modified | 2 | 5 | |||
Loans modified not considered to be troubled debt restructuring | 0.8 | 6.1 | |||
Residential Mortgage [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of loan modified | 1 | 1 | |||
Loans modified not considered to be troubled debt restructuring | 0.9 | 0.9 | |||
Commercial Construction [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Number of loan modified | 2 | ||||
Loans modified not considered to be troubled debt restructuring | $0.60 |
Loans_and_Loans_Held_for_Sale_2
Loans and Loans Held for Sale - Composition of Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Composition of the loans | ||
Commercial Loans | $2,547,719 | $2,411,672 |
Consumer Loans | 963,616 | 934,950 |
Total Portfolio Loans | 3,511,335 | 3,346,622 |
Loans held for sale | 3,695 | 22,499 |
Total Loans | 3,515,030 | 3,369,121 |
Commercial Real Estate [Member] | ||
Composition of the loans | ||
Commercial Loans | 1,567,814 | 1,452,133 |
Total Portfolio Loans | 1,567,814 | 1,452,133 |
Commercial and Industrial [Member] | ||
Composition of the loans | ||
Commercial Loans | 827,699 | 791,396 |
Total Portfolio Loans | 827,699 | 791,396 |
Commercial Construction [Member] | ||
Composition of the loans | ||
Commercial Loans | 152,206 | 168,143 |
Total Portfolio Loans | 152,206 | 168,143 |
Residential Mortgage [Member] | ||
Composition of the loans | ||
Consumer Loans | 477,141 | 427,303 |
Total Portfolio Loans | 477,141 | 427,303 |
Home Equity [Member] | ||
Composition of the loans | ||
Consumer Loans | 413,097 | 431,335 |
Total Portfolio Loans | 413,097 | 431,335 |
Installment and Other Consumer [Member] | ||
Composition of the loans | ||
Consumer Loans | 69,043 | 73,875 |
Total Portfolio Loans | 69,043 | 73,875 |
Consumer Construction [Member] | ||
Composition of the loans | ||
Consumer Loans | 4,335 | 2,437 |
Total Portfolio Loans | $4,335 | $2,437 |
Loans_and_Loans_Held_for_Sale_3
Loans and Loans Held for Sale - Restructured Loans for Periods Presented (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Accruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Nonaccruing TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | Total TDRs [Member] | |||||
Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Home Equity [Member] | Home Equity [Member] | Installment and Other Consumer [Member] | Installment and Other Consumer [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Home Equity [Member] | Home Equity [Member] | Commercial Real Estate [Member] | Commercial Real Estate [Member] | Commercial and Industrial [Member] | Commercial and Industrial [Member] | Commercial Construction [Member] | Commercial Construction [Member] | Residential Mortgage [Member] | Residential Mortgage [Member] | Home Equity [Member] | Home Equity [Member] | Installment and Other Consumer [Member] | Installment and Other Consumer [Member] | |||||||||||
Financing Receivable, Modifications [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||
Restructured loans | $1,758 | $2,324 | $10,036 | $5,936 | $35,624 | $41,521 | $15,619 | $14,220 | $7,595 | $8,270 | $5,574 | $11,734 | $2,689 | $3,078 | $3,999 | $4,195 | $148 | $24 | $20,394 | $18,940 | $7,150 | $9,584 | $1,926 | $939 | $9,652 | $5,324 | $1,054 | $2,752 | $612 | $341 | $56,018 | $60,461 | $22,769 | $23,804 | $9,521 | $9,209 | $15,226 | $17,058 | $3,743 | $5,830 | $4,611 | $4,536 | $148 | $24 |
Loans_and_Loans_Held_for_Sale_4
Loans and Loans Held for Sale - Restructured Loans for Periods Stated (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Loans | Loans | Loans | Loans | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 15 | 9 | 69 | 14 |
Pre-Modification Outstanding Recorded Investment | $1,785 | $2,972 | $10,470 | $6,758 |
Post-Modification Outstanding Recorded Investment | 1,758 | 2,324 | 10,036 | 5,936 |
Total Difference in Recorded Investment | -27 | -648 | -434 | -822 |
Principal Deferral [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | 8 | ||
Pre-Modification Outstanding Recorded Investment | 278 | 2,538 | ||
Post-Modification Outstanding Recorded Investment | 278 | 2,151 | ||
Total Difference in Recorded Investment | -387 | |||
Interest Rate Reduction and Maturity Date Extension [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 2 | 2 | ||
Pre-Modification Outstanding Recorded Investment | 664 | 664 | ||
Post-Modification Outstanding Recorded Investment | 644 | 644 | ||
Total Difference in Recorded Investment | -20 | -20 | ||
Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | |||
Pre-Modification Outstanding Recorded Investment | 4,339 | |||
Post-Modification Outstanding Recorded Investment | 4,339 | |||
Chapter 7 Bankruptcy [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 11 | 56 | ||
Pre-Modification Outstanding Recorded Investment | 789 | 2,124 | ||
Post-Modification Outstanding Recorded Investment | 782 | 2,097 | ||
Total Difference in Recorded Investment | -7 | -27 | ||
Maturity Date Extension [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 8 | 1 | 11 | |
Pre-Modification Outstanding Recorded Investment | 2,940 | 751 | 6,116 | |
Post-Modification Outstanding Recorded Investment | 2,292 | 751 | 5,304 | |
Total Difference in Recorded Investment | -648 | -812 | ||
Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | 1 | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | 54 | 32 | 54 | 642 |
Post-Modification Outstanding Recorded Investment | 54 | 32 | 54 | 632 |
Total Difference in Recorded Investment | -10 | |||
Commercial Real Estate [Member] | Principal Deferral [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 3 | |||
Pre-Modification Outstanding Recorded Investment | 1,541 | |||
Post-Modification Outstanding Recorded Investment | 1,288 | |||
Total Difference in Recorded Investment | -253 | |||
Commercial Real Estate [Member] | Interest Rate Reduction and Maturity Date Extension [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 2 | 2 | ||
Pre-Modification Outstanding Recorded Investment | 664 | 664 | ||
Post-Modification Outstanding Recorded Investment | 644 | 644 | ||
Total Difference in Recorded Investment | -20 | -20 | ||
Commercial Real Estate [Member] | Principal Forgiveness [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | |||
Pre-Modification Outstanding Recorded Investment | 4,339 | |||
Post-Modification Outstanding Recorded Investment | 4,339 | |||
Commercial Real Estate [Member] | Chapter 7 Bankruptcy [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 7 | |||
Pre-Modification Outstanding Recorded Investment | 258 | |||
Post-Modification Outstanding Recorded Investment | 255 | |||
Total Difference in Recorded Investment | -3 | |||
Commercial Real Estate [Member] | Maturity Date Extension [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | |||
Pre-Modification Outstanding Recorded Investment | 160 | |||
Post-Modification Outstanding Recorded Investment | 157 | |||
Total Difference in Recorded Investment | -3 | |||
Commercial Real Estate [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | |||
Pre-Modification Outstanding Recorded Investment | 575 | |||
Post-Modification Outstanding Recorded Investment | 565 | |||
Total Difference in Recorded Investment | -10 | |||
Commercial and Industrial [Member] | Principal Deferral [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | 2 | ||
Pre-Modification Outstanding Recorded Investment | 278 | 670 | ||
Post-Modification Outstanding Recorded Investment | 278 | 665 | ||
Total Difference in Recorded Investment | -5 | |||
Commercial and Industrial [Member] | Chapter 7 Bankruptcy [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | |||
Pre-Modification Outstanding Recorded Investment | 3 | |||
Post-Modification Outstanding Recorded Investment | 3 | |||
Commercial and Industrial [Member] | Maturity Date Extension [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | 2 | ||
Pre-Modification Outstanding Recorded Investment | 751 | 2,576 | ||
Post-Modification Outstanding Recorded Investment | 751 | 2,430 | ||
Total Difference in Recorded Investment | -146 | |||
Residential Mortgage [Member] | Principal Deferral [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 2 | |||
Pre-Modification Outstanding Recorded Investment | 153 | |||
Post-Modification Outstanding Recorded Investment | 153 | |||
Residential Mortgage [Member] | Chapter 7 Bankruptcy [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 8 | |||
Pre-Modification Outstanding Recorded Investment | 353 | |||
Post-Modification Outstanding Recorded Investment | 344 | |||
Total Difference in Recorded Investment | -9 | |||
Residential Mortgage [Member] | Maturity Date Extension [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | 1 | ||
Pre-Modification Outstanding Recorded Investment | 35 | 475 | ||
Post-Modification Outstanding Recorded Investment | 35 | 460 | ||
Total Difference in Recorded Investment | -15 | |||
Residential Mortgage [Member] | Interest Rate Reduction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | 1 | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | 54 | 32 | 54 | 67 |
Post-Modification Outstanding Recorded Investment | 54 | 32 | 54 | 67 |
Home Equity [Member] | Principal Deferral [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 1 | |||
Pre-Modification Outstanding Recorded Investment | 174 | |||
Post-Modification Outstanding Recorded Investment | 45 | |||
Total Difference in Recorded Investment | -129 | |||
Home Equity [Member] | Chapter 7 Bankruptcy [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 8 | 31 | ||
Pre-Modification Outstanding Recorded Investment | 772 | 1,420 | ||
Post-Modification Outstanding Recorded Investment | 767 | 1,407 | ||
Total Difference in Recorded Investment | -5 | -13 | ||
Installment and Other Consumer [Member] | Chapter 7 Bankruptcy [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 3 | 9 | ||
Pre-Modification Outstanding Recorded Investment | 17 | 90 | ||
Post-Modification Outstanding Recorded Investment | 15 | 88 | ||
Total Difference in Recorded Investment | -2 | -2 | ||
Commercial Construction [Member] | Maturity Date Extension [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Loans | 7 | 7 | ||
Pre-Modification Outstanding Recorded Investment | 2,905 | 2,905 | ||
Post-Modification Outstanding Recorded Investment | 2,257 | 2,257 | ||
Total Difference in Recorded Investment | ($648) | ($648) |
Loans_and_Loans_Held_for_Sale_5
Loans and Loans Held for Sale - Restructured Loans for Periods Stated (Parenthetical) (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Receivables [Abstract] | |
Debt forgiveness to customers | $0.10 |
Loans_and_Loans_Held_for_Sale_6
Loans and Loans Held for Sale - Summary of Nonperforming Assets of Defaulted TDRs (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Contract | Contract | Contract | Contract | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Defaults | 7 | 1 | 14 | 8 |
Recorded Investment | $1,002 | $270 | $1,217 | $5,347 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Defaults | 1 | 1 | 1 | 2 |
Recorded Investment | 75 | 270 | 75 | 329 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Defaults | 1 | 1 | ||
Recorded Investment | 435 | 435 | ||
Commercial Construction [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Defaults | 3 | |||
Recorded Investment | 2,659 | |||
Residential Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Defaults | 4 | 7 | 3 | |
Recorded Investment | 450 | 514 | 2,359 | |
Home Equity [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Defaults | 1 | 5 | ||
Recorded Investment | $42 | $193 |
Loans_and_Loans_Held_for_Sale_7
Loans and Loans Held for Sale - Summary of Nonperforming Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Nonperforming Assets | ||
Nonaccrual loans | $36,399 | $54,958 |
Nonaccrual TDRs | 20,394 | 18,940 |
Total nonaccrual loans | 36,399 | 54,958 |
OREO | 460 | 911 |
Total Nonperforming Assets | $36,859 | $55,869 |
Allowance_for_Loan_Losses_Age_
Allowance for Loan Losses - Age Analysis of Past Due Loans Segregated by Class of Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | $3,462,760 | $3,266,474 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 9,393 | 21,632 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 2,783 | 3,558 |
Total nonaccrual loans | 36,399 | 54,958 |
Financing Receivable, Recorded Investment, Past Due, Total | 48,575 | 80,148 |
Total Portfolio Loans | 3,511,335 | 3,346,622 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 1,549,998 | 1,418,934 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,095 | 2,230 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 242 | 413 |
Total nonaccrual loans | 16,479 | 30,556 |
Financing Receivable, Recorded Investment, Past Due, Total | 17,816 | 33,199 |
Total Portfolio Loans | 1,567,814 | 1,452,133 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 820,425 | 780,315 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 3,100 | 4,409 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 277 | 237 |
Total nonaccrual loans | 3,897 | 6,435 |
Financing Receivable, Recorded Investment, Past Due, Total | 7,274 | 11,081 |
Total Portfolio Loans | 827,699 | 791,396 |
Commercial Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 140,551 | 150,823 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 1,971 | 10,542 |
Total nonaccrual loans | 9,684 | 6,778 |
Financing Receivable, Recorded Investment, Past Due, Total | 11,655 | 17,320 |
Total Portfolio Loans | 152,206 | 168,143 |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 471,639 | 416,364 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 715 | 1,713 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 1,766 | 1,948 |
Total nonaccrual loans | 3,021 | 7,278 |
Financing Receivable, Recorded Investment, Past Due, Total | 5,502 | 10,939 |
Total Portfolio Loans | 477,141 | 427,303 |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 407,072 | 424,485 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 2,291 | 2,332 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 443 | 865 |
Total nonaccrual loans | 3,291 | 3,653 |
Financing Receivable, Recorded Investment, Past Due, Total | 6,025 | 6,850 |
Total Portfolio Loans | 413,097 | 431,335 |
Installment and Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 68,740 | 73,334 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 221 | 406 |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 55 | 95 |
Total nonaccrual loans | 27 | 40 |
Financing Receivable, Recorded Investment, Past Due, Total | 303 | 541 |
Total Portfolio Loans | 69,043 | 73,875 |
Consumer Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Current | 4,335 | 2,219 |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | ||
Total nonaccrual loans | 218 | |
Financing Receivable, Recorded Investment, Past Due, Total | 218 | |
Total Portfolio Loans | $4,335 | $2,437 |
Allowance_for_Loan_Losses_Reco
Allowance for Loan Losses - Recorded Investment in Commercial Loan Classes by Internally Assigned Risk Ratings (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | $2,547,719 | $2,411,672 |
Total percentage of recorded investment in commercial loan | 100.00% | 100.00% |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 2,349,306 | 2,102,721 |
Total percentage of recorded investment in commercial loan | 92.20% | 87.20% |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 102,842 | 168,920 |
Total percentage of recorded investment in commercial loan | 4.00% | 7.00% |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 95,571 | 140,031 |
Total percentage of recorded investment in commercial loan | 3.80% | 5.80% |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 1,567,814 | 1,452,133 |
Total percentage of recorded investment in commercial loan | 100.00% | 100.00% |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 1,458,589 | 1,265,810 |
Total percentage of recorded investment in commercial loan | 93.00% | 87.20% |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 51,849 | 96,156 |
Total percentage of recorded investment in commercial loan | 3.30% | 6.60% |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 57,376 | 90,167 |
Total percentage of recorded investment in commercial loan | 3.70% | 6.20% |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 827,699 | 791,396 |
Total percentage of recorded investment in commercial loan | 100.00% | 100.00% |
Commercial and Industrial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 771,597 | 718,070 |
Total percentage of recorded investment in commercial loan | 93.20% | 90.70% |
Commercial and Industrial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 34,238 | 42,016 |
Total percentage of recorded investment in commercial loan | 4.10% | 5.30% |
Commercial and Industrial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 21,864 | 31,310 |
Total percentage of recorded investment in commercial loan | 2.70% | 4.00% |
Commercial Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 152,206 | 168,143 |
Total percentage of recorded investment in commercial loan | 100.00% | 100.00% |
Commercial Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 119,120 | 118,841 |
Total percentage of recorded investment in commercial loan | 78.30% | 70.70% |
Commercial Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | 16,755 | 30,748 |
Total percentage of recorded investment in commercial loan | 11.00% | 18.30% |
Commercial Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total recorded investment in commercial loan | $16,331 | $18,554 |
Total percentage of recorded investment in commercial loan | 10.70% | 11.00% |
Allowance_for_Loan_Losses_Addi
Allowance for Loan Losses - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Financing Receivable, Impaired [Line Items] | ||
Evaluation for impairment of substandard and nonaccrual commercial loans | $500,000 | |
Commercial real estate impaired loans fair value | 41,600,000 | |
Total amount of all impaired loans | 62,211,000 | 82,641,000 |
Commercial real estate impaired loans current appraisals | 28,300,000 | |
Commercial real estate impaired loans needing current appraisals | 300,000 | |
Minimum [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans considered nonperforming (in days) | 90 days | |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Commercial real estate impaired loans fair value | 28,300,000 | |
Percentage of total impaired loans comprised | 46.00% | |
Total amount of all impaired loans | 28,323,000 | 39,994,000 |
Charge offs on loans | $13,500,000 |
Allowance_for_Loan_Losses_Reco1
Allowance for Loan Losses - Recorded Investment in Consumer Loan Classes by Performing and Nonperforming Status (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | $963,616 | $934,950 |
% of Total | 100.00% | 100.00% |
Accruing/Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 957,277 | 923,761 |
% of Total | 99.30% | 98.80% |
Nonaccruing/Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 6,339 | 11,189 |
% of Total | 0.70% | 1.20% |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 477,141 | 427,303 |
% of Total | 100.00% | 100.00% |
Residential Mortgage [Member] | Accruing/Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 474,120 | 420,025 |
% of Total | 99.40% | 98.30% |
Residential Mortgage [Member] | Nonaccruing/Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 3,021 | 7,278 |
% of Total | 0.60% | 1.70% |
Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 413,097 | 431,335 |
% of Total | 100.00% | 100.00% |
Home Equity [Member] | Accruing/Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 409,806 | 427,682 |
% of Total | 99.20% | 99.20% |
Home Equity [Member] | Nonaccruing/Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 3,291 | 3,653 |
% of Total | 0.80% | 0.80% |
Installment and Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 69,043 | 73,875 |
% of Total | 100.00% | 100.00% |
Installment and Other Consumer [Member] | Accruing/Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 69,016 | 73,835 |
% of Total | 99.90% | 99.90% |
Installment and Other Consumer [Member] | Nonaccruing/Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 27 | 40 |
% of Total | 0.10% | 0.10% |
Consumer Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 4,335 | 2,437 |
% of Total | 100.00% | 100.00% |
Consumer Construction [Member] | Accruing/Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | 4,335 | 2,219 |
% of Total | 100.00% | 91.10% |
Consumer Construction [Member] | Nonaccruing/Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Recorded investment in consumer loan | $218 | |
% of Total | 8.90% |
Allowance_for_Loan_Losses_Inve
Allowance for Loan Losses - Investments in Loans Considered to be Impaired and Related Information on Impaired Loans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance recorded, Recorded Investment | $7,075 | $7,075 | $8,801 | ||
With a related allowance recorded, Unpaid Principal Balance | 8,352 | 8,352 | 10,550 | ||
With a related allowance recorded, Related Allowance | 3,278 | 3,278 | 2,231 | ||
Without a related allowance recorded, Recorded Investment | 55,136 | 55,136 | 73,840 | ||
Without a related allowance, Unpaid Principal Balance | 78,016 | 78,016 | 97,716 | ||
Without a related allowance recorded, Related Allowance | |||||
Impaired Financing Receivable, Recorded Investment, Total | 62,211 | 62,211 | 82,641 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 86,368 | 86,368 | 108,266 | ||
Impaired Financing Receivable, Related Allowance | 3,278 | 3,278 | 2,231 | ||
With a related allowance recorded, Average Recorded Investment | 7,078 | 11,450 | 4,585 | 13,103 | |
With a related allowance recorded, Interest Income Recognized | 52 | 25 | 57 | 258 | |
Without a related allowance recorded, Average Recorded Investment | 56,720 | 81,278 | 65,429 | 84,472 | |
Without a related allowance recorded, Interest Income Recognized | 500 | 491 | 1,501 | 1,700 | |
Impaired Financing Receivable, Average Recorded Investment, Total | 63,798 | 92,728 | 70,014 | 97,575 | |
Impaired Financing Receivable, Interest Income Recognized, Total | 552 | 516 | 1,558 | 1,958 | |
Commercial Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance recorded, Recorded Investment | 1,014 | 1,014 | 6,138 | ||
With a related allowance recorded, Unpaid Principal Balance | 2,291 | 2,291 | 6,864 | ||
With a related allowance recorded, Related Allowance | 64 | 64 | 1,226 | ||
Without a related allowance recorded, Recorded Investment | 27,309 | 27,309 | 33,856 | ||
Without a related allowance, Unpaid Principal Balance | 38,351 | 38,351 | 45,953 | ||
Without a related allowance recorded, Related Allowance | |||||
Impaired Financing Receivable, Recorded Investment, Total | 28,323 | 28,323 | 39,994 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 40,642 | 40,642 | 52,817 | ||
Impaired Financing Receivable, Related Allowance | 64 | 64 | 1,226 | ||
With a related allowance recorded, Average Recorded Investment | 1,014 | 6,430 | 2,526 | 5,629 | |
With a related allowance recorded, Interest Income Recognized | 15 | 5 | 209 | ||
Without a related allowance recorded, Average Recorded Investment | 27,489 | 38,962 | 29,951 | 43,332 | |
Without a related allowance recorded, Interest Income Recognized | 271 | 268 | 330 | 915 | |
Impaired Financing Receivable, Average Recorded Investment, Total | 28,503 | 45,392 | 32,477 | 48,961 | |
Impaired Financing Receivable, Interest Income Recognized, Total | 271 | 283 | 335 | 1,124 | |
Commercial and Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance recorded, Recorded Investment | 1,864 | ||||
With a related allowance recorded, Unpaid Principal Balance | 2,790 | ||||
With a related allowance recorded, Related Allowance | 1,002 | ||||
Without a related allowance recorded, Recorded Investment | 10,128 | 10,128 | 11,419 | ||
Without a related allowance, Unpaid Principal Balance | 12,406 | 12,406 | 12,227 | ||
Without a related allowance recorded, Related Allowance | |||||
Impaired Financing Receivable, Recorded Investment, Total | 10,128 | 10,128 | 13,283 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 12,406 | 12,406 | 15,017 | ||
Impaired Financing Receivable, Related Allowance | 1,002 | ||||
With a related allowance recorded, Average Recorded Investment | 784 | 1,813 | |||
With a related allowance recorded, Interest Income Recognized | -9 | ||||
Without a related allowance recorded, Average Recorded Investment | 10,995 | 13,238 | 11,964 | 11,725 | |
Without a related allowance recorded, Interest Income Recognized | 68 | 101 | 203 | 265 | |
Impaired Financing Receivable, Average Recorded Investment, Total | 10,995 | 14,022 | 11,964 | 13,538 | |
Impaired Financing Receivable, Interest Income Recognized, Total | 68 | 92 | 203 | 265 | |
Commercial Construction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance recorded, Recorded Investment | 5,929 | 5,929 | 799 | ||
With a related allowance recorded, Unpaid Principal Balance | 5,929 | 5,929 | 896 | ||
With a related allowance recorded, Related Allowance | 3,139 | 3,139 | 3 | ||
Without a related allowance recorded, Recorded Investment | 9,329 | 9,329 | 17,713 | ||
Without a related allowance, Unpaid Principal Balance | 17,873 | 17,873 | 27,486 | ||
Without a related allowance recorded, Related Allowance | |||||
Impaired Financing Receivable, Recorded Investment, Total | 15,258 | 15,258 | 18,512 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 23,802 | 23,802 | 28,382 | ||
Impaired Financing Receivable, Related Allowance | 3,139 | 3,139 | 3 | ||
With a related allowance recorded, Average Recorded Investment | 5,929 | 4,236 | 1,976 | 5,661 | |
With a related allowance recorded, Interest Income Recognized | 49 | 19 | 49 | 49 | |
Without a related allowance recorded, Average Recorded Investment | 9,768 | 23,349 | 14,492 | 22,926 | |
Without a related allowance recorded, Interest Income Recognized | 46 | 113 | 271 | 450 | |
Impaired Financing Receivable, Average Recorded Investment, Total | 15,697 | 27,585 | 16,468 | 28,587 | |
Impaired Financing Receivable, Interest Income Recognized, Total | 95 | 132 | 320 | 499 | |
Consumer Real Estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance recorded, Recorded Investment | 98 | 98 | |||
With a related allowance recorded, Unpaid Principal Balance | 98 | 98 | |||
With a related allowance recorded, Related Allowance | 56 | 56 | |||
Without a related allowance recorded, Recorded Investment | 8,256 | 8,256 | 10,827 | ||
Without a related allowance, Unpaid Principal Balance | 9,267 | 9,267 | 12,025 | ||
Without a related allowance recorded, Related Allowance | |||||
Impaired Financing Receivable, Recorded Investment, Total | 8,354 | 8,354 | 10,827 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 9,365 | 9,365 | 12,025 | ||
Impaired Financing Receivable, Related Allowance | 56 | 56 | |||
With a related allowance recorded, Average Recorded Investment | 100 | 62 | |||
With a related allowance recorded, Interest Income Recognized | 2 | ||||
Without a related allowance recorded, Average Recorded Investment | 8,349 | 5,729 | 8,912 | 6,489 | |
Without a related allowance recorded, Interest Income Recognized | 114 | 9 | 693 | 70 | |
Impaired Financing Receivable, Average Recorded Investment, Total | 8,449 | 5,729 | 8,974 | 6,489 | |
Impaired Financing Receivable, Interest Income Recognized, Total | 116 | 9 | 693 | 70 | |
Other Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
With a related allowance recorded, Recorded Investment | 34 | 34 | |||
With a related allowance recorded, Unpaid Principal Balance | 34 | 34 | |||
With a related allowance recorded, Related Allowance | 19 | 19 | |||
Without a related allowance recorded, Recorded Investment | 114 | 114 | 25 | ||
Without a related allowance, Unpaid Principal Balance | 119 | 119 | 25 | ||
Without a related allowance recorded, Related Allowance | |||||
Impaired Financing Receivable, Recorded Investment, Total | 148 | 148 | 25 | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 153 | 153 | 25 | ||
Impaired Financing Receivable, Related Allowance | 19 | 19 | |||
With a related allowance recorded, Average Recorded Investment | 35 | 21 | |||
With a related allowance recorded, Interest Income Recognized | 1 | 3 | |||
Without a related allowance recorded, Average Recorded Investment | 119 | 110 | |||
Without a related allowance recorded, Interest Income Recognized | 1 | 4 | |||
Impaired Financing Receivable, Average Recorded Investment, Total | 154 | 131 | |||
Impaired Financing Receivable, Interest Income Recognized, Total | $2 | $7 |
Allowance_for_Loan_Losses_Summ
Allowance for Loan Losses - Summary of Allowance for Loan Losses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | $46,105 | $46,689 | $46,484 | $48,841 |
Charge-offs | -2,991 | -4,380 | -10,054 | -23,651 |
Recoveries | 1,450 | 1,665 | 4,804 | 2,489 |
Net (Charge-offs)/ Recoveries | -1,541 | -2,715 | -5,250 | -21,162 |
Provision for loan losses | 3,419 | 2,305 | 6,749 | 18,600 |
Balance at End of Period | 47,983 | 46,279 | 47,983 | 46,279 |
Commercial Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | 23,484 | 24,696 | 25,246 | 29,804 |
Charge-offs | -840 | -2,344 | -3,649 | -7,918 |
Recoveries | 617 | 570 | 2,939 | 748 |
Net (Charge-offs)/ Recoveries | -223 | -1,774 | -710 | -7,170 |
Provision for loan losses | -5,572 | 1,283 | -6,847 | 1,571 |
Balance at End of Period | 17,689 | 24,205 | 17,689 | 24,205 |
Commercial and Industrial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | 9,123 | 11,874 | 7,759 | 11,274 |
Charge-offs | -759 | -520 | -2,682 | -4,488 |
Recoveries | 167 | 609 | 457 | 857 |
Net (Charge-offs)/ Recoveries | -592 | 89 | -2,225 | -3,631 |
Provision for loan losses | 6,268 | -3,216 | 9,265 | 1,104 |
Balance at End of Period | 14,799 | 8,747 | 14,799 | 8,747 |
Commercial Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | 5,812 | 5,938 | 7,500 | 3,703 |
Charge-offs | -480 | -970 | -923 | -9,261 |
Recoveries | 481 | 395 | 536 | 494 |
Net (Charge-offs)/ Recoveries | 1 | -575 | -387 | -8,767 |
Provision for loan losses | 2,186 | 3,162 | 886 | 13,589 |
Balance at End of Period | 7,999 | 8,525 | 7,999 | 8,525 |
Consumer Real Estate [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | 6,655 | 3,401 | 5,058 | 3,166 |
Charge-offs | -585 | -268 | -1,822 | -1,228 |
Recoveries | 122 | 18 | 630 | 127 |
Net (Charge-offs)/ Recoveries | -463 | -250 | -1,192 | -1,101 |
Provision for loan losses | 185 | 752 | 2,511 | 1,838 |
Balance at End of Period | 6,377 | 3,903 | 6,377 | 3,903 |
Other Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance at beginning of period | 1,031 | 780 | 921 | 894 |
Charge-offs | -327 | -278 | -978 | -756 |
Recoveries | 63 | 73 | 242 | 263 |
Net (Charge-offs)/ Recoveries | -264 | -205 | -736 | -493 |
Provision for loan losses | 352 | 324 | 934 | 498 |
Balance at End of Period | $1,119 | $899 | $1,119 | $899 |
Allowance_for_Loan_Losses_Summ1
Allowance for Loan Losses - Summary of Allowance for Loan Losses and Recorded Investments (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | $3,278 | $2,231 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 44,705 | 44,253 | ||||
Total Allowance for Loan Losses | 47,983 | 46,105 | 46,484 | 46,279 | 46,689 | 48,841 |
Portfolio Loans, Individually Evaluated for Impairment | 62,211 | 82,641 | ||||
Portfolio Loans, Collectively Evaluated for Impairment | 3,449,124 | 3,263,981 | ||||
Total Portfolio Loans | 3,511,335 | 3,346,622 | ||||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 64 | 1,226 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 17,625 | 24,020 | ||||
Total Allowance for Loan Losses | 17,689 | 23,484 | 25,246 | 24,205 | 24,696 | 29,804 |
Portfolio Loans, Individually Evaluated for Impairment | 28,323 | 39,994 | ||||
Portfolio Loans, Collectively Evaluated for Impairment | 1,539,491 | 1,412,139 | ||||
Total Portfolio Loans | 1,567,814 | 1,452,133 | ||||
Commercial and Industrial [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 1,002 | |||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 14,799 | 6,757 | ||||
Total Allowance for Loan Losses | 14,799 | 9,123 | 7,759 | 8,747 | 11,874 | 11,274 |
Portfolio Loans, Individually Evaluated for Impairment | 10,128 | 13,283 | ||||
Portfolio Loans, Collectively Evaluated for Impairment | 817,571 | 778,113 | ||||
Total Portfolio Loans | 827,699 | 791,396 | ||||
Commercial Construction [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 3,139 | 3 | ||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 4,860 | 7,497 | ||||
Total Allowance for Loan Losses | 7,999 | 5,812 | 7,500 | 8,525 | 5,938 | 3,703 |
Portfolio Loans, Individually Evaluated for Impairment | 15,258 | 18,512 | ||||
Portfolio Loans, Collectively Evaluated for Impairment | 136,948 | 149,631 | ||||
Total Portfolio Loans | 152,206 | 168,143 | ||||
Consumer Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 56 | |||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 6,321 | 5,058 | ||||
Total Allowance for Loan Losses | 6,377 | 6,655 | 5,058 | 3,903 | 3,401 | 3,166 |
Portfolio Loans, Individually Evaluated for Impairment | 8,354 | 10,827 | ||||
Portfolio Loans, Collectively Evaluated for Impairment | 886,219 | 850,248 | ||||
Total Portfolio Loans | 894,573 | 861,075 | ||||
Other Consumer [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for Loan Losses, Individually Evaluated for Impairment | 19 | |||||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,100 | 921 | ||||
Total Allowance for Loan Losses | 1,119 | 1,031 | 921 | 899 | 780 | 894 |
Portfolio Loans, Individually Evaluated for Impairment | 148 | 25 | ||||
Portfolio Loans, Collectively Evaluated for Impairment | 68,895 | 73,850 | ||||
Total Portfolio Loans | $69,043 | $73,875 |
Derivative_Instruments_and_Hed2
Derivative Instruments and Hedging Activities - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Offsetting [Abstract] | |
Period for commitments | 60 days |
Derivative_Instruments_and_Hed3
Derivative Instruments and Hedging Activities - Value of Derivative Assets and Derivative Liabilities (Detail) (Not Designated as Hedging Instruments [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives not Designated as Hedging Instruments | ||
Fair value, Derivatives (included in Other Assets) | $16,084 | $23,748 |
Fair value, Derivatives (included in Other Liabilities) | 16,025 | 23,522 |
Other Assets [Member] | Interest Rate Swap Contracts-Commercial Loans [Member] | ||
Derivatives not Designated as Hedging Instruments | ||
Fair value, Derivatives (included in Other Assets) | 16,084 | 23,748 |
Notional amount, Derivatives (included in Other Assets) | 257,678 | 227,532 |
Collateral posted, Derivatives (included in Other Assets) | ||
Other Assets [Member] | Interest Rate Lock Commitments - Mortgage Loans [Member] | ||
Derivatives not Designated as Hedging Instruments | ||
Fair value, Derivatives (included in Other Assets) | 206 | 467 |
Notional amount, Derivatives (included in Other Assets) | 4,670 | 14,287 |
Other Assets [Member] | Forward Sale Contracts-Mortgage Loans [Member] | ||
Derivatives not Designated as Hedging Instruments | ||
Fair value, Derivatives (included in Other Assets) | ||
Notional amount, Derivatives (included in Other Assets) | ||
Other Liabilities [Member] | Interest Rate Swap Contracts-Commercial Loans [Member] | ||
Derivatives not Designated as Hedging Instruments | ||
Fair value, Derivatives (included in Other Liabilities) | 16,025 | 23,522 |
Notional amount, Derivatives (included in Other Liabilities) | 257,678 | 227,532 |
Collateral posted, Derivatives (included in Other Liabilities) | 12,978 | 19,595 |
Other Liabilities [Member] | Interest Rate Lock Commitments - Mortgage Loans [Member] | ||
Derivatives not Designated as Hedging Instruments | ||
Fair value, Derivatives (included in Other Liabilities) | ||
Notional amount, Derivatives (included in Other Liabilities) | ||
Other Liabilities [Member] | Forward Sale Contracts-Mortgage Loans [Member] | ||
Derivatives not Designated as Hedging Instruments | ||
Fair value, Derivatives (included in Other Liabilities) | 162 | 48 |
Notional amount, Derivatives (included in Other Liabilities) | $7,425 | $14,100 |
Derivative_Instruments_and_Hed4
Derivative Instruments and Hedging Activities - Schedule of Gross Amounts of Derivative Assets and Derivative Liabilities (Detail) (Not Designated as Hedging Instruments [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Not Designated as Hedging Instruments [Member] | ||
Derivatives not Designated as Hedging Instruments | ||
Gross amounts recognized | $16,445 | $24,262 |
Gross amounts offset | -361 | -514 |
Net amounts presented in the Consolidated Balance Sheets | 16,084 | 23,748 |
Gross amounts not offset | ||
Net Amount | 16,084 | 23,748 |
Gross amounts recognized | 16,386 | 24,036 |
Gross amounts offset | -361 | -514 |
Net amounts presented in the Consolidated Balance Sheets | 16,025 | 23,522 |
Gross amounts not offset | -12,978 | -19,595 |
Net Amount | $3,047 | $3,927 |
Derivative_Instruments_and_Hed5
Derivative Instruments and Hedging Activities - Amount of Gain or Loss Recognized in Income on Derivatives (Detail) (Not Designated as Hedging Instruments [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Total Derivative (Loss) Gain | ($298) | $137 | ($541) | $581 |
Interest Rate Swap Contracts-Commercial Loans [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Total Derivative (Loss) Gain | -10 | -19 | -166 | 164 |
Interest Rate Lock Commitments - Mortgage Loans [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Total Derivative (Loss) Gain | 231 | 257 | -261 | 629 |
Forward Sale Contracts-Mortgage Loans [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Total Derivative (Loss) Gain | ($519) | ($101) | ($114) | ($212) |
Borrowings_Additional_Informat
Borrowings - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Long Term And Short Term Debt [Line Items] | ||
Total long-term debt outstanding at a fixed rate | $19,100,000 | |
Total long-term debt outstanding at a variable rate | 48,700,000 | |
Capital lease | 200,000 | |
Total borrowings | 197,200,000 | 108,900,000 |
Long-term borrowings | 22,200,000 | |
Short-term borrowings | 175,000,000 | |
Federal Home Loan Bank Advances [Member] | ||
Long Term And Short Term Debt [Line Items] | ||
Maximum borrowing capacity | 1,500,000,000 | |
Remaining borrowing capacity | $1,300,000,000 |
Borrowings_Summary_of_Informat
Borrowings - Summary of Information Pertaining to Borrowings (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Long Term And Short Term Debt [Line Items] | ||
Short-term borrowings | $208,290 | $137,582 |
Long-term borrowings | 68,009 | 124,720 |
Total Borrowings | 276,299 | 262,302 |
Short-term borrowings, Weighted Average Rate | 0.24% | 0.19% |
Long-term borrowings, Weighted Average Rate | 2.81% | 3.05% |
Total Borrowings, Weighted Average Rate | 0.87% | 1.55% |
Securities Sold under Repurchase Agreements [Member] | ||
Long Term And Short Term Debt [Line Items] | ||
Short-term borrowings | 33,290 | 62,582 |
Short-term borrowings, Weighted Average Rate | 0.01% | 0.20% |
Short-Term Borrowings [Member] | ||
Long Term And Short Term Debt [Line Items] | ||
Short-term borrowings | 175,000 | 75,000 |
Short-term borrowings, Weighted Average Rate | 0.28% | 0.19% |
Junior Subordinated Debt Securities [Member] | ||
Long Term And Short Term Debt [Line Items] | ||
Long-term borrowings | 45,619 | 90,619 |
Long-term borrowings, Weighted Average Rate | 2.71% | 3.01% |
Other Long-Term Borrowings [Member] | ||
Long Term And Short Term Debt [Line Items] | ||
Long-term borrowings | $22,390 | $34,101 |
Long-term borrowings, Weighted Average Rate | 3.01% | 3.17% |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Commitments And Contingencies Disclosure [Abstract] | ||
Allowance for unfunded commitments | $3.10 | $3 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Commitments and Letters of Credit (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Commitment And Contingencies [Line Items] | ||
Commitments and letters of credit | $1,123,225 | $969,536 |
Commitments to Extend Credit [Member] | ||
Commitment And Contingencies [Line Items] | ||
Commitments and letters of credit | 1,042,572 | 874,137 |
Standby Letters of Credit [Member] | ||
Commitment And Contingencies [Line Items] | ||
Commitments and letters of credit | $80,653 | $95,399 |
Other_Comprehensive_Income_Oth
Other Comprehensive Income - Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Pre-Tax Amount | ||||
Change in unrealized gains/losses on securities available-for-sale | $335 | $4,373 | ($13,494) | $5,188 |
Reclassification adjustment for net (gains)/losses on securities available-for-sale included in net income | -3 | -2,170 | -5 | -3,016 |
Adjustment to funded status of employee benefit plans | 631 | 750 | 1,827 | 1,887 |
Other Comprehensive Income (Loss) | 963 | 2,953 | -11,672 | 4,059 |
Tax (Expense) Benefit | ||||
Change in unrealized gains/losses on securities available-for-sale | -117 | -1,530 | 4,723 | -1,815 |
Reclassification adjustment for net (gains)/losses on securities available-for-sale included in net income | 1 | 760 | 2 | 1,056 |
Adjustment to funded status of employee benefit plans | -220 | -264 | -639 | -662 |
Other Comprehensive Income (Loss) | -336 | -1,034 | 4,086 | -1,421 |
Net of Tax Amount | ||||
Change in unrealized gains/losses on securities available-for-sale | 218 | 2,843 | -8,771 | 3,373 |
Reclassification adjustment for net (gains)/losses on securities available-for-sale included in net income | -2 | -1,410 | -3 | -1,960 |
Adjustment to funded status of employee benefit plans | 411 | 486 | 1,188 | 1,225 |
Other Comprehensive Income (Loss) | $627 | $1,919 | ($7,586) | $2,638 |
Employee_Benefits_Additional_I
Employee Benefits - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Compensation And Retirement Disclosure [Abstract] | ||
Number of consecutive years of employee's compensation | 5 years | |
Number of total years of employee's compensation | 10 years | |
Contribution by employer | $3.10 | |
Expected long-term rate of return on plan assets | 8.00% |
Employee_Benefits_Components_o
Employee Benefits - Components of Net Periodic Pension Cost and Other Changes in Plan Assets and Benefit (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Components of Net Periodic Pension Cost | ||||
Service cost-benefits earned during the period | $659 | $636 | $2,075 | $2,090 |
Interest cost on projected benefit obligation | 997 | 1,117 | 2,989 | 3,269 |
Expected return on plan assets | -1,526 | -1,364 | -4,656 | -4,172 |
Amortization of prior service cost (credit) | -34 | -34 | -102 | -99 |
Recognized net actuarial loss | 642 | 711 | 1,818 | 1,852 |
Net Periodic Pension Expense | $738 | $1,066 | $2,124 | $2,940 |
Segments_Additional_Informatio
Segments - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Segment | |
Segment Reporting [Abstract] | |
Number of reportable segment | 3 |
Segments_Total_Assets_by_Repor
Segments - Total Assets by Reportable Operating Segment (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total Assets | $4,588,128 | $4,526,702 |
Community Banking [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total Assets | 4,579,528 | 4,518,799 |
Insurance [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total Assets | 7,358 | 6,697 |
Wealth Management [Member] | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ||
Total Assets | $1,242 | $1,206 |
Segments_Financial_Information
Segments - Financial Information of Segments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Segment Reporting, Asset Reconciling Item [Line Items] | ||||
Interest income | $38,581 | $38,820 | $114,977 | $117,330 |
Interest expense | 3,307 | 5,025 | 11,438 | 16,395 |
Net interest income (expense) | 35,274 | 33,795 | 103,539 | 100,935 |
Provision for loan losses | 3,419 | 2,305 | 6,749 | 18,600 |
Noninterest income | 12,542 | 14,746 | 40,215 | 40,347 |
Noninterest expense | 26,729 | 29,613 | 84,055 | 88,923 |
Depreciation expense | 835 | 988 | 2,667 | 2,947 |
Amortization of intangible assets | 379 | 417 | 1,223 | 1,276 |
Provision (benefit) for income taxes | 4,207 | 2,623 | 10,380 | 4,861 |
Net Income | 12,247 | 12,595 | 38,680 | 24,675 |
Operating Segments [Member] | Community Banking [Member] | ||||
Segment Reporting, Asset Reconciling Item [Line Items] | ||||
Interest income | 38,540 | 38,715 | 114,733 | 116,968 |
Interest expense | 3,949 | 5,340 | 13,403 | 17,244 |
Net interest income (expense) | 34,591 | 33,375 | 101,330 | 99,724 |
Provision for loan losses | 3,419 | 2,305 | 6,749 | 18,600 |
Noninterest income | 8,321 | 10,731 | 27,144 | 28,230 |
Noninterest expense | 22,252 | 24,586 | 68,680 | 73,850 |
Depreciation expense | 816 | 968 | 2,609 | 2,887 |
Amortization of intangible assets | 355 | 391 | 1,148 | 1,193 |
Provision (benefit) for income taxes | 4,179 | 3,333 | 11,617 | 7,057 |
Net Income | 11,891 | 12,523 | 37,671 | 24,367 |
Operating Segments [Member] | Insurance [Member] | ||||
Segment Reporting, Asset Reconciling Item [Line Items] | ||||
Interest income | 1 | 1 | ||
Net interest income (expense) | 1 | 1 | ||
Noninterest income | 1,459 | 1,481 | 4,406 | 4,196 |
Noninterest expense | 1,357 | 1,398 | 3,910 | 4,119 |
Depreciation expense | 12 | 12 | 35 | 37 |
Amortization of intangible assets | 13 | 13 | 38 | 39 |
Provision (benefit) for income taxes | 27 | 21 | 148 | 1 |
Net Income | 50 | 37 | 276 | 1 |
Operating Segments [Member] | Wealth Management [Member] | ||||
Segment Reporting, Asset Reconciling Item [Line Items] | ||||
Interest income | 137 | 119 | 411 | 325 |
Net interest income (expense) | 137 | 119 | 411 | 325 |
Noninterest income | 2,744 | 2,394 | 8,130 | 7,375 |
Noninterest expense | 2,379 | 2,401 | 7,257 | 7,037 |
Depreciation expense | 7 | 8 | 23 | 23 |
Amortization of intangible assets | 11 | 13 | 37 | 44 |
Provision (benefit) for income taxes | 178 | 56 | 491 | 289 |
Net Income | 306 | 35 | 733 | 307 |
Eliminations [Member] | ||||
Segment Reporting, Asset Reconciling Item [Line Items] | ||||
Interest income | -96 | -14 | -168 | 36 |
Interest expense | -642 | -315 | -1,965 | -849 |
Net interest income (expense) | 546 | 301 | 1,797 | 885 |
Noninterest income | 18 | 140 | 535 | 546 |
Noninterest expense | 741 | 1,228 | 4,208 | 3,917 |
Provision (benefit) for income taxes | ($177) | ($787) | ($1,876) | ($2,486) |
Sale_of_Merchant_Card_Servicin1
Sale of Merchant Card Servicing Business - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
Mar. 31, 2013 | Sep. 30, 2013 | |
Business Acquisition [Line Items] | ||
Proceeds from sale of business | 4,750,000 | |
Gain on sale of business | 3,093,000 | |
Merchant Card Servicing Business [Member] | ||
Business Acquisition [Line Items] | ||
Proceeds from sale of business | 4,800,000 | |
Termination fee | 1,700,000 | |
Gain on sale of business | $3,100,000 | |
Initial term of agreement | 10 years |