Document And Entity Information
Document And Entity Information - Jun. 30, 2015 - shares | Total |
Document Information [Line Items] | |
Entity Registrant Name | SEACOAST BANKING CORP OF FLORIDA |
Entity Central Index Key | 730,708 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Accelerated Filer |
Trading Symbol | SBCF |
Entity Common Stock, Shares Outstanding | 33,220,511 |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2015 |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q2 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and due from banks | $ 86,904 | $ 64,411 |
Interest bearing deposits with other banks | 7,844 | 36,128 |
Total cash and cash equivalents | 94,748 | 100,539 |
Securities: | ||
Available for sale (at fair value) | 762,086 | 741,375 |
Held for investment (fair value: $216,176 at June 30, 2015, and $208,788 at December 31, 2014) | 214,777 | 207,904 |
Total Securities | 976,863 | 949,279 |
Loans held for sale (at fair value) | 19,656 | 12,078 |
Loans | 1,937,399 | 1,821,885 |
Less: Allowance for loan losses | (18,791) | (17,071) |
NET LOANS | 1,918,608 | 1,804,814 |
Bank premises and equipment, net | 50,028 | 45,086 |
Other real estate owned | 5,908 | 7,462 |
Goodwill | 25,211 | 25,309 |
Other intangible assets, net | 6,824 | 7,454 |
Bank owned life insurance | 36,291 | 35,679 |
Other assets | 99,451 | 105,635 |
TOTAL ASSETS | 3,233,588 | 3,093,335 |
LIABILITIES | ||
Deposits | 2,605,177 | 2,416,534 |
Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days | 172,676 | 233,640 |
Borrowed funds | 50,000 | 50,000 |
Subordinated debt | 64,670 | 64,583 |
Other liabilities | 14,209 | 15,927 |
Total liabilities | 2,906,732 | 2,780,684 |
SHAREHOLDERS' EQUITY | ||
Common stock, par value $0.10 per share, authorized 60,000,000 shares, issued 33,226,134 and outstanding 33,220,511 shares at June 30, 2015 and issued 33,143,202 and outstanding 33,136,592 shares at December 31, 2014 | 3,300 | 3,300 |
Other shareholders' equity | 323,556 | 309,351 |
TOTAL SHAREHOLDERS' EQUITY | 326,856 | 312,651 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 3,233,588 | $ 3,093,335 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Held for investment fair value | $ 216,176 | $ 208,788 |
Common stock, par value | $ 0.10 | $ 0.10 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares issued | 33,226,134 | 33,143,202 |
Common stock, shares outstanding | 33,220,511 | 33,136,592 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest and fees on loans | $ 21,988 | $ 14,103 | $ 44,009 | $ 27,901 |
Interest and dividends on securities | 5,124 | 3,638 | 10,172 | 7,084 |
Interest on interest bearing deposits and other investments | 249 | 246 | 498 | 514 |
TOTAL INTEREST INCOME | 27,361 | 17,987 | 54,679 | 35,499 |
Interest on deposits | 845 | 570 | 1,593 | 1,171 |
Interest on borrowed money | 850 | 692 | 1,710 | 1,382 |
TOTAL INTEREST EXPENSE | 1,695 | 1,262 | 3,303 | 2,553 |
INTEREST EXPENSE | ||||
NET INTEREST INCOME | 25,666 | 16,725 | 51,376 | 32,946 |
Provision (recapture) for loan losses | 855 | (1,444) | 1,288 | (2,179) |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 24,811 | 18,169 | 50,088 | 35,125 |
Noninterest income | ||||
Other income | 8,846 | 5,896 | 16,154 | 11,454 |
Securities gains, net (includes net gains of $368 and $1 in other comprehensive income reclassifications for the three and nine months ended September 30, 2014, respectively, and net losses of $366 and net gains of $149 for the three and nine months ended September 30, 2013, respectively) | 0 | 0 | 0 | 17 |
TOTAL NONINTEREST INCOME | 8,846 | 5,896 | 16,154 | 11,471 |
TOTAL NONINTEREST EXPENSES | 24,288 | 20,683 | 47,474 | 39,466 |
INCOME BEFORE INCOME TAXES | 9,369 | 3,382 | 18,768 | 7,130 |
Provision for income taxes (benefit) (includes $142 and $0 in income tax expense from reclassification items for the three and nine months ended for 2014, respectively, and $(141) and $58 in tax expense (benefit) for 2013, respectively) | 3,564 | 1,464 | 7,104 | 2,913 |
NET INCOME | $ 5,805 | $ 1,918 | $ 11,664 | $ 4,217 |
Net income (loss) per share of common stock | ||||
Net income diluted (in dollars per share) | $ 0.18 | $ 0.07 | $ 0.35 | $ 0.16 |
Net income basic (in dollars per share) | 0.18 | 0.07 | 0.35 | 0.16 |
Cash dividends declared (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Average shares outstanding - diluted (in shares) | 33,233,508 | 25,998,121 | 33,184,764 | 25,828,391 |
Average shares outstanding - basic (in shares) | 32,978,006 | 25,826,825 | 32,971,670 | 25,659,159 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Reclassification adjustment for securities gains included in net income | $ 0 | $ 1 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 0 | $ 0 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
NET INCOME | $ 5,805 | $ 1,918 | $ 11,664 | $ 4,217 |
Other comprehensive income: | ||||
Unrealized gains (losses) on securities available for sale | (2,646) | 9,626 | 2,004 | 13,932 |
Unrealized (losses) on securities that were transferred to securities held for investment, net | 0 | (3,137) | 0 | (3,137) |
Reclassification adjustment for losses included in net income | 0 | 0 | 0 | 1 |
Provision for income taxes | 1,022 | (2,505) | (774) | (4,168) |
COMPREHENSIVE INCOME | $ 4,181 | $ 5,902 | $ 12,894 | $ 10,845 |
CONDENSED CONSOLIDATED STATEME7
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities | ||
Interest received | $ 55,164 | $ 36,653 |
Fees and commissions received | 15,629 | 10,959 |
Interest paid | (3,587) | (2,573) |
Cash paid to suppliers and employees | (46,616) | (38,448) |
Origination of loans held for sale | (109,958) | (85,424) |
Proceeds from loans held for sale | 102,380 | 81,127 |
Net change in other assets | (462) | 484 |
Net cash provided by operating activities | 12,550 | 2,778 |
Cash flows from investing activities | ||
Maturity of securities available for sale | 63,681 | 45,851 |
Maturity of securities held for investment | 17,400 | 2,270 |
Proceeds from sale of securities available for sale | 0 | 4,061 |
Purchase of securities available for sale | (84,693) | (75,785) |
Purchase of securities held for investment | (24,366) | 0 |
Net new loans and principal repayments | (114,794) | (32,433) |
Proceeds from the sale of other real estate owned | 3,004 | 2,215 |
Proceeds from sale of Federal Home Loan Bank (FHLB) and Federal Reserve Bank stock | 3,725 | 600 |
Purchase of FHLB and Federal Reserve Stock | (3,388) | 0 |
Additions to bank premises and equipment | (6,651) | (1,713) |
Net cash (used in) provided by investing activities | (146,082) | (54,934) |
Cash flows from financing activities | ||
Net increase in deposits | 188,643 | (508) |
Net increase (decrease) in federal funds purchased and repurchase agreements | (60,964) | (9,648) |
Issuance of common stock, net of related expense | 0 | 24,637 |
Stock based employee benefit plans | 62 | 81 |
Dividends paid | 0 | 0 |
Net cash provided by financing activities | 127,741 | 14,562 |
Net decrease in cash and cash equivalents | (5,791) | (37,594) |
Cash and cash equivalents at beginning of period | 100,539 | 191,624 |
Cash and cash equivalents at end of period | 94,748 | 154,030 |
Reconciliation of net income to cash provided by operating activities | ||
NET INCOME | 11,664 | 4,217 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 1,708 | 1,576 |
Amortization of premiums and discounts on securities, net | 1,972 | 963 |
Other amortization and accretion, net | (994) | 545 |
Change in loans held for sale, net | (7,578) | (4,297) |
Provision for Loan Losses | 1,288 | (2,179) |
Gain on sale of securities | 0 | (17) |
Gain on sale of loans | (708) | (668) |
Losses on sale and write-downs of other real estate owned | 134 | 145 |
Losses (Gain) on disposition of fixed assets | 1 | (10) |
Change in interest receivable | 136 | 38 |
Change in interest payable | (370) | (20) |
Change in prepaid expenses | (721) | (408) |
Change in accrued taxes | 7,487 | 3,150 |
Change in other assets | (462) | 484 |
Change in other liabilities | (1,007) | (741) |
Net cash provided by operating activities | 12,550 | 2,778 |
Supplemental disclosure of non cash investing activities: | ||
Fair value adjustment to securities | 2,004 | 13,895 |
Transfer from loans to other real estate owned | 1,629 | 1,658 |
Matured securities recorded as a receivable | 528 | 372 |
Transfer from securities available for sale to securities held for investment | $ 0 | $ 158,781 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE A BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U. S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U. S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six-month period ended June 30, 2015, are not necessarily indicative of the results that may be expected for the year ending December 31, 2015 or any other period. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2014. Use of Estimates The preparation of these condensed consolidated financial statements required the use of certain estimates by management in determining the Company’s assets, liabilities, revenues and expenses. Actual results could differ from those estimates. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for loan losses, the valuation of investment securities available for sale, fair value of impaired loans, contingent liabilities, fair value of other real estate owned, and the valuation of deferred tax assets. Actual results could differ from those estimates. |
RECENTLY ISSUED ACCOUNTING STAN
RECENTLY ISSUED ACCOUNTING STANDARDS, Not adopted as of June 30, 2015 | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENTLY ISSUED ACCOUNTING STANDARDS, Not adopted as of June 30, 2015 [Text Block] | NOTE B RECENTLY ISSUED ACCOUNTING STANDARDS, Not adopted as of June 30, 2015 The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09. The ASU is a converged standard between the FASB and the IASB that provides a single comprehensive revenue recognition model for all contracts with customers across transactions and industries. The primary objective of the ASU is revenue recognition that represents the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU is effective on January 1, 2018, with early adoption permitted January 1, 2017. The Company is currently assessing the impact of adoption of ASU 2014-09. In February 2015, the FASB issued ASU 2015-02. The amendments in this update modify the requirements of consolidation with respect to entities that are or are similar in nature to limited partnerships or are variable interest entities (VIEs). For entities that are or are similar to limited partnerships, the guidance clarifies the evaluation of kick-out rights, removes the presumption that the general partner will consolidate and generally states that such entities will be presumed to be VIEs unless proven otherwise. For VIEs, the guidance modifies the analysis related to the evaluation of servicing fees, excludes servicing fees that are deemed commensurate with the level of service required from the determination of the primary beneficiary and clarifies certain considerations related to the consolidation analysis when performing a related party assessment. The amendments are effective for us on January 1, 2016, with early adoption permitted. The amendments can be applied either through a full retrospective application or on a modified retrospective basis with a cumulative effect adjustment on the date of initial adoption. Management is assessing the impact of the adoption of this guidance. In April 2015, the FASB issued ASU 2015-03. The amendments in this update require that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. Currently debt issuance costs are presented as a deferred charge and are therefore presented as an asset. The recognition and measurement requirements will not change as a result of this guidance. The amendments are effective for us on January 1, 2016, with early adoption permitted. The amendments must be applied with retrospective application, with each balance sheet period presented showing the impacts of applying the guidance. As the guidance only impacts the balance sheet location of the debt discount, the guidance is not expected to have a material impact to our consolidated financial condition or results of operations. |
BASIC AND DILUTED EARNINGS (LOS
BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE C BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE For each of the periods ended June 30, 2015 and 2014, options and warrants to purchase 282,000 and 302,000 shares, respectively, were antidilutive and accordingly were excluded in determining diluted earnings per share. Three Months Ended Six Months Ended June 30, June 30, (Dollars in thousands, except per share data) 2015 2014 2015 2014 Basic: Net income available to common shareholders $ 5,805 $ 1,918 $ 11,664 $ 4,217 Average basic shares outstanding 32,978,006 25,826,825 32,971,670 25,659,159 Basic earnings per share $ 0.18 $ 0.07 $ 0.35 $ 0.16 Diluted: Net income available to common shareholders $ 5,805 $ 1,918 $ 11,664 $ 4,217 Average basic shares outstanding 32,978,006 25,826,825 32,971,670 25,659,159 Restricted stock awards 255,502 171,296 213,094 169,232 Average diluted shares outstanding 33,233,508 25,998,121 33,184,764 25,828,391 Diluted earnings per share $ 0.18 $ 0.07 $ 0.35 $ 0.16 |
SECURITIES
SECURITIES | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities [Text Block] | NOTE D SECURITIES June 30, 2015 Gross Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value SECURITIES AVAILABLE FOR SALE U.S. Treasury securities and obligations of U.S. Government Sponsored Entities $ 3,775 $ 68 $ 0 $ 3,843 Mortgage-backed securities of U.S. Government Sponsored Entities 121,924 1,531 (758) 122,697 Collateralized mortgage obligations of U.S. Government Sponsored Entities 313,082 989 (4,497) 309,574 Private mortgage backed securities 124,462 253 (474) 124,241 Private collateralized mortgage obligations 32,448 32 (304) 32,176 Collateralized loan obligations 94,260 841 (987) 94,114 Obligations of state and political subdivisions 22,636 513 (276) 22,873 Corporate and other debt securities 32,171 21 (211) 31,981 Private commercial mortgage backed securities 20,632 12 (57) 20,587 $ 765,390 $ 4,260 $ (7,564) $ 762,086 SECURITIES HELD FOR INVESTMENT Mortgage-backed securities of U.S. Government Sponsored Entities $ 66,056 $ 708 $ (24) $ 66,740 Collateralized mortgage obligations of U.S. Government Sponsored Entities 98,857 751 (307) 99,301 Collateralized loan obligations 41,300 371 (100) 41,571 Private collateralized mortgage obligations 8,564 0 0 8,564 Other 0 0 0 0 $ 214,777 $ 1,830 $ (431) $ 216,176 December 31, 2014 Gross Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value SECURITIES AVAILABLE FOR SALE U.S. Treasury securities and obligations of U.S. Government Sponsored Entities $ 3,876 $ 23 $ 0 $ 3,899 Mortgage-backed securities of U.S. Government Sponsored Entities 123,981 1,501 (423) 125,059 Collateralized mortgage obligations of U.S. Government Sponsored Entities 352,483 1,075 (6,077) 347,481 Private mortgage backed securities 29,967 291 0 30,258 Private collateralized mortgage obligations 85,175 688 (728) 85,135 Collateralized loan obligations 127,397 0 (2,172) 125,225 Obligations of state and political subdivisions 23,511 810 (3) 24,318 $ 746,390 $ 4,388 $ (9,403) $ 741,375 SECURITIES HELD FOR INVESTMENT Mortgage-backed securities of U.S. Government Sponsored Entities $ 67,535 $ 812 $ 0 $ 68,347 Collateralized mortgage obligations of U.S. Government Sponsored Entities 114,541 695 (280) 114,956 Collateralized loan obligations 25,828 0 (343) 25,485 $ 207,904 $ 1,507 $ (623) $ 208,788 No sales of securities during the six month period ended June 30, 2015 were transacted. Proceeds from sales of securities during the six month period ended June 30, 2014 were $ 4.1 17,000 On May 31, 2014 management identified $ 158.8 3.1 For those securities that were transferred into the held for investment category from the available for sale category, the unrealized holding losses at the date of the transfer will continue to be reported in other comprehensive income, and will be amortized over the remaining life of the security as an adjustment of yield in a manner consistent with the amortization of a discount. The amortization of unrealized holding losses reported in equity will offset the effect on interest income of the amortization of the discount. Securities at June 30, 2015 with a carrying and fair value of $ 188.3 187.7 157.7 Held for Investment Available for Sale Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value Due in less than one year $ 0 $ 0 $ 100 $ 100 Due after one year through five years 0 0 40,148 39,967 Due after five years through ten years 41,300 41,571 101,984 101,896 Due after ten years 0 0 8,641 8,994 41,300 41,571 150,873 150,957 Mortgage-backed securities of U.S. Government Sponsored Entities 66,056 66,740 121,924 122,697 Collateralized mortgage obligations of U.S. Government Sponsored Entities 98,857 99,301 313,082 309,574 Private mortgage backed securities 0 0 32,448 32,176 Private collateralized mortgage obligations 8,564 8,564 94,260 94,114 Corporate and other debt securities 0 0 32,171 31,981 Private commercial mortgage backed securities 0 0 20,632 20,587 $ 214,777 $ 216,176 $ 765,390 $ 762,086 June 30, 2015 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Value Losses Value Losses Mortgage-backed securties of U.S. Governement Sponsored Entities $ 71,485 $ (581) $ 9,516 $ (201) $ 81,001 $ (782) Collateralized mortgage obligations of U.S. Government Sponsored Entities 91,107 (732) 150,895 (4,072) 242,002 (4,804) Private mortage backed securities 16,677 (304) 0 0 16,677 (304) Private collaterlized mortgage obligations 46,084 (730) 14,788 (257) 60,872 (987) Collateralized loan obligations 37,325 (291) 24,635 (283) 61,960 (574) Obligations of state and political subdivisions 13,256 (276) 0 0 13,256 (276) Corporate and other debt securities 21,276 (211) 0 0 21,276 (211) Private commercial mortgage backed securities 13,644 (57) 0 0 13,644 (57) Total temporarily impaired securities $ 310,854 $ (3,182) $ 199,834 $ (4,813) $ 510,688 $ (7,995) December 31, 2014 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Value Losses Value Losses U.S. Treasury securities and obligations of U.S. Government Sponsored Entities $ 100 $ 0 $ 0 $ 0 $ 100 $ 0 Mortgage-backed securties of U.S. Government Sponsored Entities 36,890 (153) 21,640 (271) 58,530 (424) Collateralized mortgage obligations of U.S. Government Sponsored Entities 100,148 (833) 170,400 (5,523) 270,548 (6,356) Private collaterlized mortgage obligations 61,554 (914) 10,091 (157) 71,645 (1,071) Collateralized loan obligations 100,714 (1,769) 24,511 (403) 125,225 (2,172) Obligations of state and political subdivisions 1,734 (3) 0 0 1,734 (3) Total temporarily impaired securities $ 301,040 $ (3,672) $ 226,642 $ (6,354) $ 527,682 $ (10,026) At June 30, 2015, approximately $ 1.3 77.5 30- and 15-year fixed and 10/1 adjustable rate mortgage At June 30, 2015, the Company also had $ 5.6 323.0 At June 30, 2015, the Company also had $ 0.6 62.0 Also, as of June 30, 2015, management does not intend to sell securities that are in unrealized loss positions and it is not more likely than not that the Company will be required to sell these securities before recovery of the amortized cost basis. Therefore, management does not consider any investment to be other-than-temporarily impaired at June 30, 2015. Included in other assets is $ 16.0 16.0 |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans [Text Block] | NOTE E LOANS June 30, 2015 Portfolio Loans PCI Loans PUL's Total (Dollars in thousands) Construction and land development $ 79,644 $ 1,489 $ 14,045 $ 95,178 Commercial real estate 693,212 3,350 195,766 892,328 Residential real estate 657,247 506 38,024 695,777 Commercial and financial 153,455 1,217 35,653 190,325 Consumer 61,423 0 1,490 62,913 Other loans 878 0 0 878 NET LOAN BALANCES $ 1,645,859 $ 6,562 $ 284,978 $ 1,937,399 December 31, 2014 Portfolio Loans PCI Loans PUL's Total (Dollars in thousands) Construction and land development $ 65,896 $ 1,557 $ 19,583 $ 87,036 Commercial real estate 610,863 4,092 222,192 837,147 Residential real estate 639,428 851 46,618 686,897 Commercial and financial 120,763 1,312 35,321 157,396 Consumer 50,543 2 2,352 52,897 Other loans 512 0 0 512 NET LOAN BALANCES $ 1,488,005 $ 7,814 $ 326,066 $ 1,821,885 Net loan balances as of June 30, 2015 and December 31, 2014 are net of deferred costs of 6.2 3.6 Purchased Loans - PCI loans are accounted for pursuant to ASC Topic 310-30. The excess of cash flows expected to be collected over the estimated fair value is referred to as the accretable yield and is recognized in interest income over the remaining life of the loan in situations where there is a reasonable expectation about the timing and amount of cash flows expected to be collected. The difference between the contractually required payments and the cash flows expected to be collected, considering the impact of prepayments, is referred to as the nonaccretable difference. We have applied ASC Topic 310-20 accounting treatment to PULs. The unamortized fair value mark established at acquisition on the loans has been ascribed as an accretable yield that is accreted into interest income over the estimated remaining life of the loans. Reclassifications from December 31, nonaccretable June 30, 2014 Deletions Accretion difference 2015 (In thousands) Contractually required principal and interest $ 14,831 $ (3,267) $ 0 $ 0 $ 11,564 Nonaccretable difference (5,825) 1,663 0 261 (3,901) Cash flows expected to be collected 9,006 (1,604) 0 261 7,663 Accretable yield (1,192) 148 204 (261) (1,101) Carrying value of acquired loans 7,814 $ (1,456) $ 204 $ 0 6,562 Allowance for loan losses (64) (212) Carrying value less allowance for loan losses $ 7,750 $ 6,350 Accruing Accruing Accruing Greater Total June 30, 2015 30-59 Days 60-89 Days Than Financing (Dollars in thousands) Past Due Past Due 90 Days Nonaccrual Current Receivables Portfolio Loans Construction and land development $ 48 $ 525 $ 41 $ 303 $ 78,728 $ 79,645 Commercial real estate 603 54 0 2,483 690,070 693,210 Residential real estate 619 211 0 12,035 644,382 657,247 Commerical and financial 22 0 0 0 153,434 153,456 Consumer 67 0 0 233 61,123 61,423 Other 0 0 0 0 878 878 Total 1,359 790 41 15,054 1,628,615 $ 1,645,859 Purchased Unimpaired Loans Construction and land development 0 0 0 43 14,001 $ 14,044 Commercial real estate 409 0 0 2,215 193,144 195,768 Residential real estate 6 0 29 0 37,989 38,024 Commerical and financial 20 135 0 0 35,497 35,652 Consumer 0 0 0 0 1,490 1,490 Other 0 0 0 0 0 0 Total 435 135 29 2,258 282,121 $ 284,978 Purchased Credit Impaired Loans Construction and land development 0 0 0 1,367 122 $ 1,489 Commercial real estate 0 0 0 724 2,626 3,350 Residential real estate 0 0 0 194 312 506 Commerical and financial 0 0 0 0 1,217 1,217 Consumer 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 0 0 0 2,285 4,277 $ 6,562 Total Loans $ 1,794 $ 925 $ 70 $ 19,597 $ 1,915,013 $ 1,937,399 Accruing Accruing Accruing Greater Total December 31, 2014 30-59 Days 60-89 Days Than Financing (Dollars in thousands) Past Due Past Due 90 Days Nonaccrual Current Receivables Portfolio Loans Construction and land development $ 0 $ 0 $ 0 $ 534 $ 65,362 $ 65,896 Commercial real estate 764 0 0 3,457 606,642 610,863 Residential real estate 259 159 17 14,381 624,612 639,428 Commerical and financial 232 0 0 0 120,531 120,763 Consumer 256 25 0 191 50,071 50,543 Other 0 0 0 0 512 512 Total $ 1,511 $ 184 $ 17 $ 18,563 $ 1,467,730 $ 1,488,005 Purchased Unimpaired Loans Construction and land development $ 303 $ 0 $ 0 $ 0 $ 19,280 $ 19,583 Commercial real estate 2,318 0 41 0 219,833 222,192 Residential real estate 142 0 39 5 46,432 46,618 Commerical and financial 953 0 0 0 34,368 35,321 Consumer 0 0 0 0 2,352 2,352 Other 0 0 0 0 0 0 Total $ 3,716 $ 0 $ 80 $ 5 $ 322,265 $ 326,066 Purchased Impaired Loans Construction and land development $ 0 $ 0 $ 0 $ 1,428 $ 129 $ 1,557 Commercial real estate 7 359 0 733 2,993 4,092 Residential real estate 88 0 116 411 236 851 Commerical and financial 0 0 0 0 1,312 1,312 Consumer 0 0 0 0 2 2 Other 0 0 0 0 0 0 Total $ 95 $ 359 $ 116 $ 2,572 $ 4,672 $ 7,814 Total Loans $ 5,322 $ 543 $ 213 $ 21,140 $ 1,794,667 $ 1,821,885 The Company utilizes an internal asset classification system as a means of reporting problem and potential problem loans. Under the Company’s risk rating system, the Company classifies problem and potential problem loans as “Special Mention,” “Substandard,” and “Doubtful” and these loans are monitored on an ongoing basis. Substandard loans include those characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loans classified as Doubtful, have all the weaknesses inherent in those classified Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The principal balance of loans classified as doubtful are generally charged off. Loans that do not currently expose the Company to sufficient risk to warrant classification in one of the aforementioned categories, but possess weaknesses that deserve management’s close attention are deemed to be Special Mention. Risk ratings are updated any time the situation warrants. Loans not meeting the criteria above are considered to be pass-rated loans and risk grades are recalculated at least annually by the loan relationship manager. June 30, 2015 Construction Commercial & Land Commercial Residential and Consumer (Dollars in thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 84,789 $ 855,600 $ 667,063 $ 188,446 $ 62,113 $ 1,858,011 Special mention 3,640 11,570 1,112 906 886 18,114 Substandard 2,712 12,445 2,065 858 156 18,236 Doubtful 0 0 0 0 0 0 Nonaccrual 1,713 5,422 12,229 0 233 19,597 Pass-Troubled debt restructures 1,949 1,788 36 18 403 4,194 Troubled debt restructures 375 5,503 13,272 97 0 19,247 $ 95,178 $ 892,328 $ 695,777 $ 190,325 $ 63,791 $ 1,937,399 December 31, 2014 Construction Commercial & Land Commercial Residential and Consumer (Dollars in thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 79,397 $ 797,934 $ 655,518 $ 155,281 $ 51,764 $ 1,739,894 Special mention 1,815 11,709 546 993 590 15,653 Substandard 1,685 15,325 1,733 1,002 456 20,201 Doubtful 0 0 0 0 0 0 Nonaccrual 1,963 4,189 14,797 0 191 21,140 Pass-Troubled debt restructures 1,672 2,332 17 0 0 4,021 Troubled debt restructures 504 5,658 14,286 120 408 20,976 $ 87,036 $ 837,147 $ 686,897 $ 157,396 $ 53,409 $ 1,821,885 |
IMPAIRED LOANS AND ALLOWANCE FO
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES | 6 Months Ended |
Jun. 30, 2015 | |
Loans and Leases Receivable, Allowance [Abstract] | |
Impaired Loans and Allowance for Loan Losses [Text Block] | NOTE F IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES During the six months ending June 30, 2015 and 2014, newly identified troubled debt restructurings (“TDRs”) totaled $ 0.9 5.3 The Company’s TDR concessions granted generally do not include forgiveness of principal balances. Loan modifications are not reported in calendar years after modification if the loans were modified at an interest rate equal to the yields of new loan originations with comparable risk and the loans are performing based on the terms of the restructuring agreements. When a loan is modified as a TDR, there is not a direct, material impact on the loans within the Consolidated Balance Sheet, as principal balances are generally not forgiven. Most loans prior to modification were classified as an impaired loan and the allowance for loan losses is determined in accordance with Company policy. Pre- Post- Modification Modification Number Outstanding Outstanding Specific Valuation of Recorded Recorded Reserve Allowance (Dollars in thousands) Contracts Investment Investment Recorded Recorded Residential real estate 1 $ 26 $ 25 $ 0 $ 1 Commercial real estate 2 911 859 0 52 Consumer 1 48 45 0 3 4 $ 985 $ 929 $ 0 $ 56 The following table presents loans that were modified within the six months ending June 30, 2014: Pre- Post- Modification Modification Number Outstanding Outstanding Specific Valuation of Recorded Recorded Reserve Allowance (Dollars in thousands) Contracts Investment Investment Recorded Recorded Residential real estate 3 $ 601 $ 564 $ 0 $ 37 Commercial real estate 1 4,300 3,975 0 325 4 $ 4,901 $ 4,539 $ 0 $ 362 No accruing loans that were restructured within the twelve months preceding June 30, 2015 and June 30, 2014, defaulted during the six months ended June 30, 2015 and 2014, respectively. The Company considers a loan to have defaulted when it becomes 60 days or more delinquent under the modified terms, has been transferred to nonaccrual status, or has been transferred to other real estate owned. A defaulted TDR is generally placed on nonaccrual and specific allowance for loan loss is assigned in accordance with the Company’s policy. June 30, 2015 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 1,762 $ 2,070 $ 0 Commercial real estate 3,434 4,804 0 Residential real estate 10,264 14,500 0 Commercial and financial 115 115 0 Consumer 156 214 0 Impaired Loans with an Allowance Recorded: Construction and land development 905 935 142 Commercial real estate 6,341 6,414 417 Residential real estate 15,078 15,455 2,483 Commercial and financial 0 0 0 Consumer 480 488 94 Total: Construction and land development 2,667 3,005 142 Commercial real estate 9,775 11,218 417 Residential real estate 25,342 29,955 2,483 Commercial and financial 115 115 0 Consumer 636 702 94 $ 38,535 $ 44,995 $ 3,136 December 31, 2014 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 1,824 $ 2,239 $ 0 Commercial real estate 3,087 4,600 0 Residential real estate 11,898 16,562 0 Commercial and financial 120 120 0 Consumer 65 93 0 Impaired Loans with an Allowance Recorded: Construction and land development 886 931 159 Commercial real estate 8,359 8,469 529 Residential real estate 16,804 17,693 2,741 Commercial and financial 0 0 0 Consumer 534 562 112 Total: Construction and land development 2,710 3,170 159 Commercial real estate 11,446 13,069 529 Residential real estate 28,702 34,255 2,741 Commercial and financial 120 120 0 Consumer 599 655 112 $ 43,577 $ 51,269 $ 3,541 For the three months ended June 30, 2015 and 2014, the Company’s average recorded investments in impaired loans and related interest income were as follows: Three Months Ended Three Months Ended June 30, 2015 June 30, 2014 Average Interest Average Interest Recorded Income Recorded Income (Dollars in thousands) Investment Recognized Investment Recognized Impaired Loans with No Related Allowance Recorded: Construction & land development $ 1,838 $ 14 $ 2,036 $ 29 Commercial real estate 2,942 23 1,547 7 Residential real estate 10,877 30 12,063 4 Commercial and financial 116 1 50 3 Consumer 141 0 302 0 Impaired Loans with an Allowance Recorded: Construction & land development 816 11 1,367 6 Commercial real estate 7,188 51 10,952 268 Residential real estate 15,682 99 21,505 122 Commercial and financial 0 0 112 0 Consumer 503 5 538 5 Total: Construction & land development 2,654 25 3,403 35 Commercial real estate 10,130 74 12,499 275 Residential real estate 26,559 129 33,568 126 Commercial and financial 116 1 162 3 Consumer 644 5 840 5 $ 40,103 $ 234 $ 50,472 $ 444 Six Months Ended Six Months Ended June 30, 2015 June 30, 2014 Average Interest Average Interest Recorded Income Recorded Income (Dollars in thousands) Investment Recognized Investment Recognized Impaired Loans with No Related Allowance Recorded: Construction & land development $ 1,839 $ 32 $ 2,196 $ 51 Commercial real estate 2,950 27 2,394 7 Residential real estate 11,268 65 12,333 7 Commercial and financial 118 3 76 5 Consumer 114 0 345 0 Impaired Loans with an Allowance Recorded: Construction & land development 832 16 1,311 12 Commercial real estate 7,649 125 9,853 361 Residential real estate 16,106 198 22,215 251 Commercial and financial 0 0 88 0 Consumer 516 11 541 10 Total: Construction & land development 2,671 48 3,507 63 Commercial real estate 10,599 152 12,247 368 Residential real estate 27,374 263 34,548 258 Commercial and financial 118 3 164 5 Consumer 630 11 886 10 $ 41,392 $ 477 $ 51,352 $ 704 Impaired loans also include loans that have been modified in troubled debt restructurings where concessions to borrowers who experienced financial difficulties have been granted. At June 30, 2015 and December 31, 2014, accruing TDRs totaled $ 23.4 25.0 Interest payments received on impaired loans are recorded as interest income unless collection of the remaining recorded investment is doubtful at which time payments received are recorded as reductions to principal. For the six months ended June 30, 2015 and 2014, the Company recorded $ 477,000 704,000 For impaired loans whose impairment is measured based on the present value of expected future cash flows, a total of $ 142,000 141,000 Allowance for Loan Losses for the Three Months Ended June 30, 2015 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 842 $ (101) $ (19) $ 165 $ 146 $ 887 Commercial real estate 4,827 535 (146) 62 (84) 5,278 Residential real estate 9,666 (182) (155) 358 203 9,687 Commercial and financial 1,374 (411) (255) 237 (18) 945 Consumer 919 895 (60) 28 (32) 1,782 $ 17,628 $ 736 $ (635) $ 850 $ 215 $ 18,579 Allowance for Loan Losses for the Six Months Ended June 30, 2015 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 722 $ 19 $ (66) $ 212 $ 146 $ 887 Commercial real estate 4,528 765 (302) 287 (15) 5,278 Residential real estate 9,784 (549) (322) 773 451 9,686 Commercial and financial 1,179 (288) (274) 328 54 945 Consumer 794 1,193 (254) 50 (204) 1,783 $ 17,007 $ 1,140 $ (1,218) $ 1,650 $ 432 $ 18,579 Activity in the allowance for loan losses for the three-month and six-month periods ended June 30, 2014 is summarized as follows: Allowance for Loan Losses for the Three Months Ended June 30, 2014 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 796 $ 240 $ (196) $ 27 $ (169) $ 867 Commercial real estate 6,753 (1,528) (50) 18 (32) 5,193 Residential real estate 10,358 (32) (95) 400 305 10,631 Commercial and financial 853 (167) 0 23 23 709 Consumer 712 43 (40) 25 (15) 740 $ 19,472 $ (1,444) $ (381) $ 493 $ 112 $ 18,140 Allowance for Loan Losses for the Six Months Ended June 30, 2014 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 808 $ 204 $ (199) $ 54 $ (145) $ 867 Commercial real estate 6,160 (1,087) (134) 254 120 5,193 Residential real estate 11,659 (1,410) (207) 589 382 10,631 Commercial and financial 710 53 (108) 54 (54) 709 Consumer 731 61 (97) 45 (52) 740 $ 20,068 $ (2,179) $ (745) $ 996 $ 251 $ 18,140 The allowance for loan losses is composed of specific allowances for certain impaired loans and general allowances grouped into loan pools based on similar characteristics. At June 30, 2015 Individually Evaluated for Collectively Evaluated for Impairment Impairment Total Carrying Associated Carrying Associated Carrying Associated (Dollars in thousands) Value Allowance Value Allowance Value Allowance Construction & land development $ 2,667 $ 142 $ 91,022 $ 745 $ 93,689 $ 887 Commercial real estate 9,775 417 879,203 4,861 888,978 5,278 Residential real estate 25,342 2,483 669,929 7,203 695,271 9,686 Commercial and financial 115 0 188,993 945 189,108 945 Consumer 636 94 63,155 1,689 63,791 1,783 $ 38,535 $ 3,136 $ 1,892,302 $ 15,443 $ 1,930,837 $ 18,579 At December 31, 2014 Individually Evaluated for Collectively Evaluated for Impairment Impairment Total Carrying Associated Carrying Associated Carrying Associated (Dollars in thousands) Value Allowance Value Allowance Value Allowance Construction & land development $ 2,710 $ 159 $ 82,769 $ 563 $ 85,479 $ 722 Commercial real estate 11,446 529 821,609 3,999 833,055 4,528 Residential real estate 28,702 2,741 657,344 7,043 686,046 9,784 Commercial and financial 120 0 155,964 1,179 156,084 1,179 Consumer 599 112 52,808 682 53,407 794 $ 43,577 $ 3,541 $ 1,770,494 $ 13,466 $ 1,814,071 $ 17,007 Loans collectively evaluated for impairment at June 30, 2015 and December 31, 2014 included loans acquired from BANKshares on October 1, 2014 that are not PCI loans. These loans are performing loans recorded at estimated fair value at the acquisition date. The fair value adjustment represents the total fair value discount of each PUL, is accreted into interest income over the remaining lives of the related loans on a level yield basis, and remained adequate at June 30, 2015. PCI Loans Individually Evaluated for Impairment June 30, 2015 December 31, 2014 Carrying Associated Carrying Associated (Dollars in thousands) Value Allowance Value Allowance Construction & land development $ 1,489 $ 212 $ 1,557 $ 43 Commercial real estate 3,350 0 4,092 3 Residential real estate 506 0 851 18 Commercial and financial 1,217 0 1,312 0 Consumer 0 0 2 0 $ 6,562 $ 212 $ 7,814 $ 64 |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 6 Months Ended |
Jun. 30, 2015 | |
Brokers and Dealers [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE G SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Securities sold under agreements to repurchase are accounted for as secured borrowings. For securities sold under agreements to repurchase, the Company would be obligated to provide additional collateral in the event of a significant decline in fair value of collateral pledged. (Dollars in thousands) Overnight and Continuous Maturity Fair Value June 30, 2015 December 31, 2014 Mortgage backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities $ 157,676 $ 153,640 |
EQUITY CAPITAL
EQUITY CAPITAL | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE H EQUITY CAPITAL The Company is well capitalized and at June 30, 2015, the Company and the Company’s principal banking subsidiary, Seacoast National Bank, or “Seacoast National”, met the new common equity Tier 1 capital ratio (CET1) regulatory threshold of 6.5 |
CONTINGENCIES
CONTINGENCIES | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE I CONTINGENCIES The Company and its subsidiaries, because of the nature of their businesses, are at all times subject to numerous legal actions, threatened or filed. Management presently believes that none of the legal proceedings to which it is a party are likely to have a materially adverse effect on the Company’s consolidated financial condition, operating results or cash flows, although no assurance can be given with respect to the ultimate outcome of any such claim or litigation. |
FAIR VALUE
FAIR VALUE | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | NOTE J FAIR VALUE Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs (Dollars in thousands) Measurements (Level 1) (Level 2) (Level 3) At June 30, 2015: Available for sale securities (3) $ 762,086 $ 3,843 $ 758,243 $ 0 Loans held for sale (4) 19,656 0 19,656 0 Loans (1) 7,913 0 6,420 1,493 Other real estate owned (2) 5,908 0 2,055 3,853 At December 31, 2014: Available for sale securities (3) $ 741,375 $ 3,899 $ 737,476 $ 0 Loans held for sale (4) 12,078 0 12,078 0 Loans (1) 10,409 0 8,324 2,085 Other real estate owned (2) 7,462 0 1,468 5,994 (1) See Note F. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC 310. (2) Fair value is measured on a nonrecurring basis in accordance with ASC 360 . (3) See Note D for further detail of fair value of individual investment categories. (4) Recurring fair value basis determined using observable market data. The fair value of impaired real estate loans which are collateral dependent is based on recent real estate appraisals less estimated costs of sale. For residential real estate impaired loans, appraised values or internal evaluation are based on the comparative sales approach. These impaired loans are considered level 2 in the fair value hierarchy. For commercial and commercial real estate impaired loans, evaluations may use either a single valuation approach or a combination of approaches, such as comparative sales, cost and/or income approach. A significant unobservable input in the income approach is the estimated capitalization rate for a given piece of collateral. At June 30, 2015 the range of capitalization rates utilized to determine fair value of the underlying collateral averaged approximately 8.1 Fair value of available for sale securities are determined using valuation techniques for individual investments as described in Note D. When appraisals are used to determine fair value and the appraisals are based on a market approach, the fair value of other real estate owned (“OREO”) is classified as a level 2 input. When the fair value of OREO is based on appraisals which require significant adjustments to market-based valuation inputs or apply an income approach based on unobservable cash flows, the fair value of OREO is classified as Level 3 inputs. Transfers between levels of the fair value hierarchy are recognized on the actual date of the event or circumstances that caused the transfer, which generally coincides with the Company’s monthly and/or quarterly valuation process. During the six months ended June 30, 2015, there were no transfers between level 1 and level 2 assets carried at fair value. For loans classified as level 3, transfers in totaled $ 0.4 0.2 0.8 Charge-offs recognized upon loan foreclosures are generally offset by general or specific allocations of the allowance for loan losses and generally do not, and did not during the reported periods, significantly impact the Company’s provision for loan losses. For OREO classified as level 3 during the first six months of 2015, foreclosed loans transferred in were nominal. Transfers out totaled $ 2.1 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Carrying Assets Inputs Inputs (Dollars in thousands) Amount (Level 1) (Level 2) (Level 3) At June 30, 2015: Financial Assets Securities held to maturity (1) $ 214,777 $ 0 $ 216,176 $ 0 Loans, net 1,910,695 0 0 1,926,219 Financial Liabilities Deposit liabilities 2,605,177 0 0 2,605,883 Borrowings 50,000 0 52,424 0 Subordinated debt 64,670 0 53,948 0 At December 31, 2014: Financial Assets Securities held to maturity (1) $ 207,904 $ 0 $ 208,788 $ 0 Loans, net 1,794,405 0 0 1,814,746 Financial Liabilities Deposit liabilities 2,416,534 0 0 2,417,355 Borrowings 50,000 0 53,584 0 Subordinated debt 64,583 0 53,861 0 (1) See Note D for further detail of fair value of individual investment categories. The short maturity of Seacoast’s assets and liabilities results in having a significant number of financial instruments whose fair value equals or closely approximates carrying value. Such financial instruments are reported in the following balance sheet captions: cash and cash equivalents, interest bearing deposits with other banks, federal funds purchased and securities sold under agreement to repurchase, maturing within 30 days. The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value at June 30, 2015 and December 31, 2014: Securities : U.S. Treasury securities are reported at fair value utilizing Level 1 inputs. Other securities are reported at fair value utilizing Level 2 inputs. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The Company reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities that are esoteric or that have a complicated structure. The Company’s portfolio consists of traditional investments, nearly all of which are U.S. Treasury obligations, federal agency bullet or mortgage pass-through securities, or general obligation or revenue based municipal bonds. Pricing for such instruments is fairly generic and is easily obtained. The fair value of the collateralized loan obligations are determined from broker quotes. From time to time, the Company will validate, on a sample basis, prices supplied by the independent pricing service by comparison to prices obtained from other brokers and third-party sources or derived using internal models. Loans : Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type such as commercial, mortgage, etc. Each loan category is further segmented into fixed and adjustable rate interest terms and by performing and nonperforming categories. The fair value of loans, except residential mortgages, is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risks inherent in the loan. For residential mortgage loans, fair value is estimated by discounting contractual cash flows adjusting for prepayment assumptions using discount rates based on secondary market sources. The estimated fair value is not an exit price fair value under ASC 820 when this valuation technique is used. Loans held for sale : Fair values are based upon estimated values to be received from independent third party purchasers. Deposit Liabilities : The fair value of demand deposits, savings accounts and money market deposits is the amount payable at the reporting date. The fair value of fixed maturity certificates of deposit is estimated using the rates currently offered for funding of similar remaining maturities. Borrowings : The fair value of floating rate borrowings is the amount payable on demand at the reporting date. The fair value of fixed rate borrowings is estimated using the rates currently offered for borrowings of similar remaining maturities. Subordinated debt : The fair value of the floating rate subordinated debt is estimated using discounted cash flow analysis, estimates of the Company’s current incremental borrowing rate for similar instruments and dealer quotes for similar debt. |
ACQUISITION
ACQUISITION | 6 Months Ended |
Jun. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | NOTE K ACQUISITION Acquisition of Grand Bank & Trust of Florida On July 17, 2015, the Company completed its previously announced acquisition of Grand Bancshares, Inc. (“Grand”) as set forth in the Agreement and Plan of Merger (“Agreement”) whereby Grand merged with and into the Company. Pursuant to and simultaneously with the merger of Grand with and into the Company, Grand’s wholly owned subsidiary bank, Grand Bank& Trust of Florida (“GB”), merged with and into the Company’s subsidiary bank, Seacoast National Bank. The Company’s primary reasons for the transaction were to further solidify its market share in the attractive Palm Beach market and expand its customer base and leverage operating cost through economies of scale. The acquisition increased the Company’s total assets and total deposits by approximately 6.5 7.3 The acquisition will be accounted for under the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations Fair value estimates are subject to change for up to one year after the closing date of the acquisition as additional information relative to closing date fair values becomes available. Fair values at the date of this filing are pending valuations for the core deposit intangible and pending appraisals on purchased unimpaired loans and purchased credit impaired loans, bank premises and other fixed assets, other real estate owned, subordinated debt, and remaining assets and other liabilities. Loans that are nonaccrual and all loan relationships identified as impaired as of the acquisition date will be considered by management to be credit impaired and will be accounted for pursuant to ASC Topic 310-30. The Company acquired 100 1.48 1,000 0.3114 1.09 15.75 18.7 Company believes the deposits assumed from the acquisition will have an intangible value. The Company will be applying ASC Topic 805, which prescribes the accounting for goodwill and other intangible assets such as core deposit intangibles, in a business combination. In determining the valuation amount, deposits will be analyzed based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of these condensed consolidated financial statements required the use of certain estimates by management in determining the Company’s assets, liabilities, revenues and expenses. Actual results could differ from those estimates. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for loan losses, the valuation of investment securities available for sale, fair value of impaired loans, contingent liabilities, fair value of other real estate owned, and the valuation of deferred tax assets. Actual results could differ from those estimates. |
BASIC AND DILUTED EARNINGS (L20
BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, (Dollars in thousands, except per share data) 2015 2014 2015 2014 Basic: Net income available to common shareholders $ 5,805 $ 1,918 $ 11,664 $ 4,217 Average basic shares outstanding 32,978,006 25,826,825 32,971,670 25,659,159 Basic earnings per share $ 0.18 $ 0.07 $ 0.35 $ 0.16 Diluted: Net income available to common shareholders $ 5,805 $ 1,918 $ 11,664 $ 4,217 Average basic shares outstanding 32,978,006 25,826,825 32,971,670 25,659,159 Restricted stock awards 255,502 171,296 213,094 169,232 Average diluted shares outstanding 33,233,508 25,998,121 33,184,764 25,828,391 Diluted earnings per share $ 0.18 $ 0.07 $ 0.35 $ 0.16 |
SECURITIES (Tables)
SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Fair Value of Securities Available for Sale and Held for Investment (Table Text Block) | The amortized cost and fair value of securities available for sale and held for investment at June 30, 2015 and December 31, 2014 are summarized as follows: June 30, 2015 Gross Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value SECURITIES AVAILABLE FOR SALE U.S. Treasury securities and obligations of U.S. Government Sponsored Entities $ 3,775 $ 68 $ 0 $ 3,843 Mortgage-backed securities of U.S. Government Sponsored Entities 121,924 1,531 (758) 122,697 Collateralized mortgage obligations of U.S. Government Sponsored Entities 313,082 989 (4,497) 309,574 Private mortgage backed securities 124,462 253 (474) 124,241 Private collateralized mortgage obligations 32,448 32 (304) 32,176 Collateralized loan obligations 94,260 841 (987) 94,114 Obligations of state and political subdivisions 22,636 513 (276) 22,873 Corporate and other debt securities 32,171 21 (211) 31,981 Private commercial mortgage backed securities 20,632 12 (57) 20,587 $ 765,390 $ 4,260 $ (7,564) $ 762,086 SECURITIES HELD FOR INVESTMENT Mortgage-backed securities of U.S. Government Sponsored Entities $ 66,056 $ 708 $ (24) $ 66,740 Collateralized mortgage obligations of U.S. Government Sponsored Entities 98,857 751 (307) 99,301 Collateralized loan obligations 41,300 371 (100) 41,571 Private collateralized mortgage obligations 8,564 0 0 8,564 Other 0 0 0 0 $ 214,777 $ 1,830 $ (431) $ 216,176 December 31, 2014 Gross Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value SECURITIES AVAILABLE FOR SALE U.S. Treasury securities and obligations of U.S. Government Sponsored Entities $ 3,876 $ 23 $ 0 $ 3,899 Mortgage-backed securities of U.S. Government Sponsored Entities 123,981 1,501 (423) 125,059 Collateralized mortgage obligations of U.S. Government Sponsored Entities 352,483 1,075 (6,077) 347,481 Private mortgage backed securities 29,967 291 0 30,258 Private collateralized mortgage obligations 85,175 688 (728) 85,135 Collateralized loan obligations 127,397 0 (2,172) 125,225 Obligations of state and political subdivisions 23,511 810 (3) 24,318 $ 746,390 $ 4,388 $ (9,403) $ 741,375 SECURITIES HELD FOR INVESTMENT Mortgage-backed securities of U.S. Government Sponsored Entities $ 67,535 $ 812 $ 0 $ 68,347 Collateralized mortgage obligations of U.S. Government Sponsored Entities 114,541 695 (280) 114,956 Collateralized loan obligations 25,828 0 (343) 25,485 $ 207,904 $ 1,507 $ (623) $ 208,788 |
Amortized Cost and Fair Value of Securities by Contractual Maturity (Table Text Block) | The amortized cost and fair value of securities at June 30, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or prepayment penalties. Held for Investment Available for Sale Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value Due in less than one year $ 0 $ 0 $ 100 $ 100 Due after one year through five years 0 0 40,148 39,967 Due after five years through ten years 41,300 41,571 101,984 101,896 Due after ten years 0 0 8,641 8,994 41,300 41,571 150,873 150,957 Mortgage-backed securities of U.S. Government Sponsored Entities 66,056 66,740 121,924 122,697 Collateralized mortgage obligations of U.S. Government Sponsored Entities 98,857 99,301 313,082 309,574 Private mortgage backed securities 0 0 32,448 32,176 Private collateralized mortgage obligations 8,564 8,564 94,260 94,114 Corporate and other debt securities 0 0 32,171 31,981 Private commercial mortgage backed securities 0 0 20,632 20,587 $ 214,777 $ 216,176 $ 765,390 $ 762,086 |
Schedule of Unrealized Loss and Fair Value on Investments (Table Text Block) | The tables below indicate the amount of securities with unrealized losses and period of time for which these losses were outstanding at June 30, 2015 and December 31, 2014, respectively. June 30, 2015 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Value Losses Value Losses Mortgage-backed securties of U.S. Governement Sponsored Entities $ 71,485 $ (581) $ 9,516 $ (201) $ 81,001 $ (782) Collateralized mortgage obligations of U.S. Government Sponsored Entities 91,107 (732) 150,895 (4,072) 242,002 (4,804) Private mortage backed securities 16,677 (304) 0 0 16,677 (304) Private collaterlized mortgage obligations 46,084 (730) 14,788 (257) 60,872 (987) Collateralized loan obligations 37,325 (291) 24,635 (283) 61,960 (574) Obligations of state and political subdivisions 13,256 (276) 0 0 13,256 (276) Corporate and other debt securities 21,276 (211) 0 0 21,276 (211) Private commercial mortgage backed securities 13,644 (57) 0 0 13,644 (57) Total temporarily impaired securities $ 310,854 $ (3,182) $ 199,834 $ (4,813) $ 510,688 $ (7,995) December 31, 2014 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Value Losses Value Losses Value Losses U.S. Treasury securities and obligations of U.S. Government Sponsored Entities $ 100 $ 0 $ 0 $ 0 $ 100 $ 0 Mortgage-backed securties of U.S. Government Sponsored Entities 36,890 (153) 21,640 (271) 58,530 (424) Collateralized mortgage obligations of U.S. Government Sponsored Entities 100,148 (833) 170,400 (5,523) 270,548 (6,356) Private collaterlized mortgage obligations 61,554 (914) 10,091 (157) 71,645 (1,071) Collateralized loan obligations 100,714 (1,769) 24,511 (403) 125,225 (2,172) Obligations of state and political subdivisions 1,734 (3) 0 0 1,734 (3) Total temporarily impaired securities $ 301,040 $ (3,672) $ 226,642 $ (6,354) $ 527,682 $ (10,026) |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Information relating to portfolio loans, purchased credit impaired (PCI), and purchased unimpaired loans (PUL) is summarized as follows: June 30, 2015 Portfolio Loans PCI Loans PUL's Total (Dollars in thousands) Construction and land development $ 79,644 $ 1,489 $ 14,045 $ 95,178 Commercial real estate 693,212 3,350 195,766 892,328 Residential real estate 657,247 506 38,024 695,777 Commercial and financial 153,455 1,217 35,653 190,325 Consumer 61,423 0 1,490 62,913 Other loans 878 0 0 878 NET LOAN BALANCES $ 1,645,859 $ 6,562 $ 284,978 $ 1,937,399 December 31, 2014 Portfolio Loans PCI Loans PUL's Total (Dollars in thousands) Construction and land development $ 65,896 $ 1,557 $ 19,583 $ 87,036 Commercial real estate 610,863 4,092 222,192 837,147 Residential real estate 639,428 851 46,618 686,897 Commercial and financial 120,763 1,312 35,321 157,396 Consumer 50,543 2 2,352 52,897 Other loans 512 0 0 512 NET LOAN BALANCES $ 1,488,005 $ 7,814 $ 326,066 $ 1,821,885 |
Contractually Required Principal And Interest Cash Payments Changes [Table Text Block] | Reclassifications from December 31, nonaccretable June 30, 2014 Deletions Accretion difference 2015 (In thousands) Contractually required principal and interest $ 14,831 $ (3,267) $ 0 $ 0 $ 11,564 Nonaccretable difference (5,825) 1,663 0 261 (3,901) Cash flows expected to be collected 9,006 (1,604) 0 261 7,663 Accretable yield (1,192) 148 204 (261) (1,101) Carrying value of acquired loans 7,814 $ (1,456) $ 204 $ 0 6,562 Allowance for loan losses (64) (212) Carrying value less allowance for loan losses $ 7,750 $ 6,350 |
Past Due Financing Receivables [Table Text Block] | The following table presents the contractual aging of the recorded investment in past due loans by class of loans as of June 30, 2015 and December 31, 2014: Accruing Accruing Accruing Greater Total June 30, 2015 30-59 Days 60-89 Days Than Financing (Dollars in thousands) Past Due Past Due 90 Days Nonaccrual Current Receivables Portfolio Loans Construction and land development $ 48 $ 525 $ 41 $ 303 $ 78,728 $ 79,645 Commercial real estate 603 54 0 2,483 690,070 693,210 Residential real estate 619 211 0 12,035 644,382 657,247 Commerical and financial 22 0 0 0 153,434 153,456 Consumer 67 0 0 233 61,123 61,423 Other 0 0 0 0 878 878 Total 1,359 790 41 15,054 1,628,615 $ 1,645,859 Purchased Unimpaired Loans Construction and land development 0 0 0 43 14,001 $ 14,044 Commercial real estate 409 0 0 2,215 193,144 195,768 Residential real estate 6 0 29 0 37,989 38,024 Commerical and financial 20 135 0 0 35,497 35,652 Consumer 0 0 0 0 1,490 1,490 Other 0 0 0 0 0 0 Total 435 135 29 2,258 282,121 $ 284,978 Purchased Credit Impaired Loans Construction and land development 0 0 0 1,367 122 $ 1,489 Commercial real estate 0 0 0 724 2,626 3,350 Residential real estate 0 0 0 194 312 506 Commerical and financial 0 0 0 0 1,217 1,217 Consumer 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 0 0 0 2,285 4,277 $ 6,562 Total Loans $ 1,794 $ 925 $ 70 $ 19,597 $ 1,915,013 $ 1,937,399 Accruing Accruing Accruing Greater Total December 31, 2014 30-59 Days 60-89 Days Than Financing (Dollars in thousands) Past Due Past Due 90 Days Nonaccrual Current Receivables Portfolio Loans Construction and land development $ 0 $ 0 $ 0 $ 534 $ 65,362 $ 65,896 Commercial real estate 764 0 0 3,457 606,642 610,863 Residential real estate 259 159 17 14,381 624,612 639,428 Commerical and financial 232 0 0 0 120,531 120,763 Consumer 256 25 0 191 50,071 50,543 Other 0 0 0 0 512 512 Total $ 1,511 $ 184 $ 17 $ 18,563 $ 1,467,730 $ 1,488,005 Purchased Unimpaired Loans Construction and land development $ 303 $ 0 $ 0 $ 0 $ 19,280 $ 19,583 Commercial real estate 2,318 0 41 0 219,833 222,192 Residential real estate 142 0 39 5 46,432 46,618 Commerical and financial 953 0 0 0 34,368 35,321 Consumer 0 0 0 0 2,352 2,352 Other 0 0 0 0 0 0 Total $ 3,716 $ 0 $ 80 $ 5 $ 322,265 $ 326,066 Purchased Impaired Loans Construction and land development $ 0 $ 0 $ 0 $ 1,428 $ 129 $ 1,557 Commercial real estate 7 359 0 733 2,993 4,092 Residential real estate 88 0 116 411 236 851 Commerical and financial 0 0 0 0 1,312 1,312 Consumer 0 0 0 0 2 2 Other 0 0 0 0 0 0 Total $ 95 $ 359 $ 116 $ 2,572 $ 4,672 $ 7,814 Total Loans $ 5,322 $ 543 $ 213 $ 21,140 $ 1,794,667 $ 1,821,885 |
Financing Receivable Credit Quality Indicators [Table Text Block] | The following tables present the risk category of loans by class of loans based on the most recent analysis performed as of June 30, 2015 and December 31, 2014: June 30, 2015 Construction Commercial & Land Commercial Residential and Consumer (Dollars in thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 84,789 $ 855,600 $ 667,063 $ 188,446 $ 62,113 $ 1,858,011 Special mention 3,640 11,570 1,112 906 886 18,114 Substandard 2,712 12,445 2,065 858 156 18,236 Doubtful 0 0 0 0 0 0 Nonaccrual 1,713 5,422 12,229 0 233 19,597 Pass-Troubled debt restructures 1,949 1,788 36 18 403 4,194 Troubled debt restructures 375 5,503 13,272 97 0 19,247 $ 95,178 $ 892,328 $ 695,777 $ 190,325 $ 63,791 $ 1,937,399 December 31, 2014 Construction Commercial & Land Commercial Residential and Consumer (Dollars in thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 79,397 $ 797,934 $ 655,518 $ 155,281 $ 51,764 $ 1,739,894 Special mention 1,815 11,709 546 993 590 15,653 Substandard 1,685 15,325 1,733 1,002 456 20,201 Doubtful 0 0 0 0 0 0 Nonaccrual 1,963 4,189 14,797 0 191 21,140 Pass-Troubled debt restructures 1,672 2,332 17 0 0 4,021 Troubled debt restructures 504 5,658 14,286 120 408 20,976 $ 87,036 $ 837,147 $ 686,897 $ 157,396 $ 53,409 $ 1,821,885 |
IMPAIRED LOANS AND ALLOWANCE 23
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Pre- Post- Modification Modification Number Outstanding Outstanding Specific Valuation of Recorded Recorded Reserve Allowance (Dollars in thousands) Contracts Investment Investment Recorded Recorded Residential real estate 1 $ 26 $ 25 $ 0 $ 1 Commercial real estate 2 911 859 0 52 Consumer 1 48 45 0 3 4 $ 985 $ 929 $ 0 $ 56 The following table presents loans that were modified within the six months ending June 30, 2014: Pre- Post- Modification Modification Number Outstanding Outstanding Specific Valuation of Recorded Recorded Reserve Allowance (Dollars in thousands) Contracts Investment Investment Recorded Recorded Residential real estate 3 $ 601 $ 564 $ 0 $ 37 Commercial real estate 1 4,300 3,975 0 325 4 $ 4,901 $ 4,539 $ 0 $ 362 |
Impaired Financing Receivables [Table Text Block] | As of June 30, 2015 and December 31, 2014, the Company’s recorded investment in impaired loans and the related valuation allowance were as follows: June 30, 2015 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 1,762 $ 2,070 $ 0 Commercial real estate 3,434 4,804 0 Residential real estate 10,264 14,500 0 Commercial and financial 115 115 0 Consumer 156 214 0 Impaired Loans with an Allowance Recorded: Construction and land development 905 935 142 Commercial real estate 6,341 6,414 417 Residential real estate 15,078 15,455 2,483 Commercial and financial 0 0 0 Consumer 480 488 94 Total: Construction and land development 2,667 3,005 142 Commercial real estate 9,775 11,218 417 Residential real estate 25,342 29,955 2,483 Commercial and financial 115 115 0 Consumer 636 702 94 $ 38,535 $ 44,995 $ 3,136 December 31, 2014 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 1,824 $ 2,239 $ 0 Commercial real estate 3,087 4,600 0 Residential real estate 11,898 16,562 0 Commercial and financial 120 120 0 Consumer 65 93 0 Impaired Loans with an Allowance Recorded: Construction and land development 886 931 159 Commercial real estate 8,359 8,469 529 Residential real estate 16,804 17,693 2,741 Commercial and financial 0 0 0 Consumer 534 562 112 Total: Construction and land development 2,710 3,170 159 Commercial real estate 11,446 13,069 529 Residential real estate 28,702 34,255 2,741 Commercial and financial 120 120 0 Consumer 599 655 112 $ 43,577 $ 51,269 $ 3,541 For the three months ended June 30, 2015 and 2014, the Company’s average recorded investments in impaired loans and related interest income were as follows: Three Months Ended Three Months Ended June 30, 2015 June 30, 2014 Average Interest Average Interest Recorded Income Recorded Income (Dollars in thousands) Investment Recognized Investment Recognized Impaired Loans with No Related Allowance Recorded: Construction & land development $ 1,838 $ 14 $ 2,036 $ 29 Commercial real estate 2,942 23 1,547 7 Residential real estate 10,877 30 12,063 4 Commercial and financial 116 1 50 3 Consumer 141 0 302 0 Impaired Loans with an Allowance Recorded: Construction & land development 816 11 1,367 6 Commercial real estate 7,188 51 10,952 268 Residential real estate 15,682 99 21,505 122 Commercial and financial 0 0 112 0 Consumer 503 5 538 5 Total: Construction & land development 2,654 25 3,403 35 Commercial real estate 10,130 74 12,499 275 Residential real estate 26,559 129 33,568 126 Commercial and financial 116 1 162 3 Consumer 644 5 840 5 $ 40,103 $ 234 $ 50,472 $ 444 For the six months ended June 30, 2015 and 2014, the Company’s average recorded investments in impaired loans and related interest income were as follows: Six Months Ended Six Months Ended June 30, 2015 June 30, 2014 Average Interest Average Interest Recorded Income Recorded Income (Dollars in thousands) Investment Recognized Investment Recognized Impaired Loans with No Related Allowance Recorded: Construction & land development $ 1,839 $ 32 $ 2,196 $ 51 Commercial real estate 2,950 27 2,394 7 Residential real estate 11,268 65 12,333 7 Commercial and financial 118 3 76 5 Consumer 114 0 345 0 Impaired Loans with an Allowance Recorded: Construction & land development 832 16 1,311 12 Commercial real estate 7,649 125 9,853 361 Residential real estate 16,106 198 22,215 251 Commercial and financial 0 0 88 0 Consumer 516 11 541 10 Total: Construction & land development 2,671 48 3,507 63 Commercial real estate 10,599 152 12,247 368 Residential real estate 27,374 263 34,548 258 Commercial and financial 118 3 164 5 Consumer 630 11 886 10 $ 41,392 $ 477 $ 51,352 $ 704 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Activity in the allowance for loan losses (excluding PCI loans) for the three-month and six-month periods ended June 30, 2015 is summarized as follows: Allowance for Loan Losses for the Three Months Ended June 30, 2015 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 842 $ (101) $ (19) $ 165 $ 146 $ 887 Commercial real estate 4,827 535 (146) 62 (84) 5,278 Residential real estate 9,666 (182) (155) 358 203 9,687 Commercial and financial 1,374 (411) (255) 237 (18) 945 Consumer 919 895 (60) 28 (32) 1,782 $ 17,628 $ 736 $ (635) $ 850 $ 215 $ 18,579 Allowance for Loan Losses for the Six Months Ended June 30, 2015 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 722 $ 19 $ (66) $ 212 $ 146 $ 887 Commercial real estate 4,528 765 (302) 287 (15) 5,278 Residential real estate 9,784 (549) (322) 773 451 9,686 Commercial and financial 1,179 (288) (274) 328 54 945 Consumer 794 1,193 (254) 50 (204) 1,783 $ 17,007 $ 1,140 $ (1,218) $ 1,650 $ 432 $ 18,579 Activity in the allowance for loan losses for the three-month and six-month periods ended June 30, 2014 is summarized as follows: Allowance for Loan Losses for the Three Months Ended June 30, 2014 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 796 $ 240 $ (196) $ 27 $ (169) $ 867 Commercial real estate 6,753 (1,528) (50) 18 (32) 5,193 Residential real estate 10,358 (32) (95) 400 305 10,631 Commercial and financial 853 (167) 0 23 23 709 Consumer 712 43 (40) 25 (15) 740 $ 19,472 $ (1,444) $ (381) $ 493 $ 112 $ 18,140 Allowance for Loan Losses for the Six Months Ended June 30, 2014 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 808 $ 204 $ (199) $ 54 $ (145) $ 867 Commercial real estate 6,160 (1,087) (134) 254 120 5,193 Residential real estate 11,659 (1,410) (207) 589 382 10,631 Commercial and financial 710 53 (108) 54 (54) 709 Consumer 731 61 (97) 45 (52) 740 $ 20,068 $ (2,179) $ (745) $ 996 $ 251 $ 18,140 |
Loan Portfolio And Related Allowance [Table Text Block] | The Company’s loan portfolio (excluding PCI loans) and related allowance at June 30, 2015 and December 31, 2014 is shown in the following tables: At June 30, 2015 Individually Evaluated for Collectively Evaluated for Impairment Impairment Total Carrying Associated Carrying Associated Carrying Associated (Dollars in thousands) Value Allowance Value Allowance Value Allowance Construction & land development $ 2,667 $ 142 $ 91,022 $ 745 $ 93,689 $ 887 Commercial real estate 9,775 417 879,203 4,861 888,978 5,278 Residential real estate 25,342 2,483 669,929 7,203 695,271 9,686 Commercial and financial 115 0 188,993 945 189,108 945 Consumer 636 94 63,155 1,689 63,791 1,783 $ 38,535 $ 3,136 $ 1,892,302 $ 15,443 $ 1,930,837 $ 18,579 At December 31, 2014 Individually Evaluated for Collectively Evaluated for Impairment Impairment Total Carrying Associated Carrying Associated Carrying Associated (Dollars in thousands) Value Allowance Value Allowance Value Allowance Construction & land development $ 2,710 $ 159 $ 82,769 $ 563 $ 85,479 $ 722 Commercial real estate 11,446 529 821,609 3,999 833,055 4,528 Residential real estate 28,702 2,741 657,344 7,043 686,046 9,784 Commercial and financial 120 0 155,964 1,179 156,084 1,179 Consumer 599 112 52,808 682 53,407 794 $ 43,577 $ 3,541 $ 1,770,494 $ 13,466 $ 1,814,071 $ 17,007 |
PCI Loans [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan Portfolio And Related Allowance [Table Text Block] | The table below summarizes PCI loans that were individually evaluated for impairment based on expected cash flows at June 30, 2015 and December 31, 2014: PCI Loans Individually Evaluated for Impairment June 30, 2015 December 31, 2014 Carrying Associated Carrying Associated (Dollars in thousands) Value Allowance Value Allowance Construction & land development $ 1,489 $ 212 $ 1,557 $ 43 Commercial real estate 3,350 0 4,092 3 Residential real estate 506 0 851 18 Commercial and financial 1,217 0 1,312 0 Consumer 0 0 2 0 $ 6,562 $ 212 $ 7,814 $ 64 |
SECURITIES SOLD UNDER AGREEME24
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Brokers and Dealers [Abstract] | |
Schedule of Securities Financing Transactions [Table Text Block] | At June 30, 2015 and December 31, 2014, Company securities pledged were as follows by collateral type and maturity: (Dollars in thousands) Overnight and Continuous Maturity Fair Value June 30, 2015 December 31, 2014 Mortgage backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities $ 157,676 $ 153,640 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Under ASC 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at June 30, 2015 and December 31, 2014 included: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs (Dollars in thousands) Measurements (Level 1) (Level 2) (Level 3) At June 30, 2015: Available for sale securities (3) $ 762,086 $ 3,843 $ 758,243 $ 0 Loans held for sale (4) 19,656 0 19,656 0 Loans (1) 7,913 0 6,420 1,493 Other real estate owned (2) 5,908 0 2,055 3,853 At December 31, 2014: Available for sale securities (3) $ 741,375 $ 3,899 $ 737,476 $ 0 Loans held for sale (4) 12,078 0 12,078 0 Loans (1) 10,409 0 8,324 2,085 Other real estate owned (2) 7,462 0 1,468 5,994 (1) See Note F. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC 310. (2) Fair value is measured on a nonrecurring basis in accordance with ASC 360 . (3) See Note D for further detail of fair value of individual investment categories. (4) Recurring fair value basis determined using observable market data. |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | The carrying amount and fair value of the Company’s other significant financial instruments that are not measured at fair value on a recurring basis in the balance sheet as of June 30, 2015 and December 31, 2014 is as follows: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Carrying Assets Inputs Inputs (Dollars in thousands) Amount (Level 1) (Level 2) (Level 3) At June 30, 2015: Financial Assets Securities held to maturity (1) $ 214,777 $ 0 $ 216,176 $ 0 Loans, net 1,910,695 0 0 1,926,219 Financial Liabilities Deposit liabilities 2,605,177 0 0 2,605,883 Borrowings 50,000 0 52,424 0 Subordinated debt 64,670 0 53,948 0 At December 31, 2014: Financial Assets Securities held to maturity (1) $ 207,904 $ 0 $ 208,788 $ 0 Loans, net 1,794,405 0 0 1,814,746 Financial Liabilities Deposit liabilities 2,416,534 0 0 2,417,355 Borrowings 50,000 0 53,584 0 Subordinated debt 64,583 0 53,861 0 (1) See Note D for further detail of fair value of individual investment categories. |
BASIC AND DILUTED EARNINGS (L26
BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Basic: | ||||
Net income available to common shareholders | $ 5,805 | $ 1,918 | $ 11,664 | $ 4,217 |
Average basic shares outstanding | 32,978,006 | 25,826,825 | 32,971,670 | 25,659,159 |
Basic earnings per share | $ 0.18 | $ 0.07 | $ 0.35 | $ 0.16 |
Diluted: | ||||
Net income available to common shareholders | $ 5,805 | $ 1,918 | $ 11,664 | $ 4,217 |
Average basic shares outstanding | 32,978,006 | 25,826,825 | 32,971,670 | 25,659,159 |
Restricted stock awards | 255,502 | 171,296 | 213,094 | 169,232 |
Average diluted shares outstanding | 33,233,508 | 25,998,121 | 33,184,764 | 25,828,391 |
Diluted earnings per share | $ 0.18 | $ 0.07 | $ 0.35 | $ 0.16 |
SECURITIES - Additional Informa
SECURITIES - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
May. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||||||
Proceeds from Sale of Available-for-sale Securities, Debt | $ 0 | $ 4,061,000 | ||||
Available-for-sale Securities, Gross Realized Gains | 17,000 | |||||
Collateral Underlying Mortgage Investments Terms | 30- and 15-year fixed and 10/1 adjustable rate mortgage | |||||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock | $ 16,000,000 | $ 16,000,000 | ||||
Cost Method Investments, Fair Value Disclosure | 16,000,000 | 16,000,000 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 510,688,000 | 510,688,000 | $ 527,682,000 | |||
Accumulated unrealized losses | (7,995,000) | (7,995,000) | $ (10,026,000) | |||
Securities Available For Sale Transferred To Held-To-Maturity | $ 158,800,000 | |||||
Available For Sale Securities Transferred To Held To Maturity Securities Unrealized Gain Loss | $ 3,100,000 | 0 | $ (3,137,000) | 0 | $ (3,137,000) | |
Mortgage Backed Securities And Collateralized Mortgage Obligations Of Us Government Sponsored Entities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 323,000,000 | 323,000,000 | ||||
Accumulated unrealized losses | 5,600,000 | 5,600,000 | ||||
Mortgage Backed Securities And Collateralized Mortgage Obligations Of Us Government Sponsored Entities [Member] | Carrying Amount [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Securities pledged as collateral | 157,700,000 | 157,700,000 | ||||
Collateralized Mortgage Backed Securities [Member] | Carrying Amount [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Securities pledged as collateral | 188,300,000 | 188,300,000 | ||||
Collateralized Mortgage Backed Securities [Member] | Fair Value [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Securities pledged as collateral | 187,700,000 | 187,700,000 | ||||
Collateralized Loan Obligations [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 62,000,000 | 62,000,000 | ||||
Accumulated unrealized losses | 600,000 | 600,000 | ||||
Private Collateralized Securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 77,500,000 | 77,500,000 | ||||
Accumulated unrealized losses | $ 1,300,000 | $ 1,300,000 |
SECURITIES - Amortized Cost and
SECURITIES - Amortized Cost and Fair Value of Securities Available for Sale and Held for Investment (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | $ 765,390 | $ 746,390 |
Gross Unrealized Gains, Available for Sale | 4,260 | 4,388 |
Gross Unrealized Losses, Available for Sale | (7,564) | (9,403) |
Fair Value, Available for Sale | 762,086 | 741,375 |
Gross Amortized Cost, Held for Investment Securities | 214,777 | 207,904 |
Gross Unrealized Gains, Held for Investment Securities | 1,830 | 1,507 |
Gross Unrealized Losses, Held for Investment Securities | (431) | (623) |
Held for investment fair value | 216,176 | 208,788 |
U.S. Treasury Securities and obligations of U.S. Government Sponsored Entities [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 3,775 | 3,876 |
Gross Unrealized Gains, Available for Sale | 68 | 23 |
Gross Unrealized Losses, Available for Sale | 0 | 0 |
Fair Value, Available for Sale | 3,843 | 3,899 |
Mortgage-backed Securities, US Government Sponsored Enterprises [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 121,924 | 123,981 |
Gross Unrealized Gains, Available for Sale | 1,531 | 1,501 |
Gross Unrealized Losses, Available for Sale | (758) | (423) |
Fair Value, Available for Sale | 122,697 | 125,059 |
Gross Amortized Cost, Held for Investment Securities | 66,056 | 67,535 |
Gross Unrealized Gains, Held for Investment Securities | 708 | 812 |
Gross Unrealized Losses, Held for Investment Securities | (24) | 0 |
Held for investment fair value | 66,740 | 68,347 |
Collateralized Mortgage Obligations Of US Government Sponsored Entities [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 313,082 | 352,483 |
Gross Unrealized Gains, Available for Sale | 989 | 1,075 |
Gross Unrealized Losses, Available for Sale | (4,497) | (6,077) |
Fair Value, Available for Sale | 309,574 | 347,481 |
Gross Amortized Cost, Held for Investment Securities | 98,857 | 114,541 |
Gross Unrealized Gains, Held for Investment Securities | 751 | 695 |
Gross Unrealized Losses, Held for Investment Securities | (307) | (280) |
Held for investment fair value | 99,301 | 114,956 |
Private mortgage backed securities [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 124,462 | 29,967 |
Gross Unrealized Gains, Available for Sale | 253 | 291 |
Gross Unrealized Losses, Available for Sale | (474) | 0 |
Fair Value, Available for Sale | 124,241 | 30,258 |
Gross Amortized Cost, Held for Investment Securities | 0 | |
Held for investment fair value | 0 | |
Private collateralized mortgage obligations [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 32,448 | 85,175 |
Gross Unrealized Gains, Available for Sale | 32 | 688 |
Gross Unrealized Losses, Available for Sale | (304) | (728) |
Fair Value, Available for Sale | 32,176 | 85,135 |
Gross Amortized Cost, Held for Investment Securities | 8,564 | |
Gross Unrealized Gains, Held for Investment Securities | 0 | |
Gross Unrealized Losses, Held for Investment Securities | 0 | |
Held for investment fair value | 8,564 | |
Collateralized loan obligations [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 94,260 | 127,397 |
Gross Unrealized Gains, Available for Sale | 841 | 0 |
Gross Unrealized Losses, Available for Sale | (987) | (2,172) |
Fair Value, Available for Sale | 94,114 | 125,225 |
Gross Amortized Cost, Held for Investment Securities | 41,300 | 25,828 |
Gross Unrealized Gains, Held for Investment Securities | 371 | 0 |
Gross Unrealized Losses, Held for Investment Securities | (100) | (343) |
Held for investment fair value | 41,571 | 25,485 |
Obligations of state and political subdivisions [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 22,636 | 23,511 |
Gross Unrealized Gains, Available for Sale | 513 | 810 |
Gross Unrealized Losses, Available for Sale | (276) | (3) |
Fair Value, Available for Sale | 22,873 | $ 24,318 |
Corporate and other debt securities [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 32,171 | |
Gross Unrealized Gains, Available for Sale | 21 | |
Gross Unrealized Losses, Available for Sale | (211) | |
Fair Value, Available for Sale | 31,981 | |
Gross Amortized Cost, Held for Investment Securities | 0 | |
Held for investment fair value | 0 | |
Private commercial mortgage backed securities [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 20,632 | |
Gross Unrealized Gains, Available for Sale | 12 | |
Gross Unrealized Losses, Available for Sale | (57) | |
Fair Value, Available for Sale | 20,587 | |
Gross Amortized Cost, Held for Investment Securities | 0 | |
Held for investment fair value | 0 | |
Other [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Held for Investment Securities | 0 | |
Gross Unrealized Gains, Held for Investment Securities | 0 | |
Gross Unrealized Losses, Held for Investment Securities | 0 | |
Held for investment fair value | $ 0 |
SECURITIES - Amortized Cost a29
SECURITIES - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | $ 214,777 | $ 207,904 |
Held for Investment, Fair Value, Total | 216,176 | 208,788 |
Available for Sale, Amortized Cost, Total | 765,390 | |
Gross Amortized Cost, Held for Investment Securities | 214,777 | 207,904 |
Fair Value, Available for Sale | 762,086 | |
Collateralized Loan Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Due in less than one year | 0 | |
Held for Investment, Fair Value, Due in less than one year | 0 | |
Available for Sale Amortized Cost, Due in less than one year | 100 | |
Available for Sale, Fair Value, Due in less than one year | 100 | |
Held for Investment, Amortized Cost, Due after one year through five years | 0 | |
Held for Investment, Fair Value, Due after one year through five years | 0 | |
Available for Sale, Amortized Cost, Due after one year through five years | 40,148 | |
Available for Sale, Fair Value, Due after one year through five years | 39,967 | |
Held for Investment, Amortized Cost, Due after five years through ten years | 41,300 | |
Held for Investment, Fair Value, Due after five years through ten years | 41,571 | |
Available for Sale, Amortized Cost, Due after five years through ten years | 101,984 | |
Available for Sale, Fair Value, Due after five years through ten years | 101,896 | |
Held for Investment, Amortized Cost, Due after ten years | 0 | |
Held for Investment, Fair Value, Due after ten years | 0 | |
Available for Sale, Amortized Cost, Due after ten years | 8,641 | |
Available for Sale, Fair Value, Due after ten years | 8,994 | |
Held for Investment, Amortized Cost, Total | 41,300 | |
Held for Investment, Fair Value, Total | 41,571 | |
Available for Sale, Amortized Cost, Total | 150,873 | |
Available for Sale, Fair Value, Total | 150,957 | |
Mortgage-backed Securities, US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Fair Value, Total | 66,740 | 68,347 |
Available for Sale, Amortized Cost, Total | 121,924 | |
Gross Amortized Cost, Held for Investment Securities | 66,056 | 67,535 |
Fair Value, Available for Sale | 122,697 | |
Collateralized Mortgage Obligations Of US Government Sponsored Entities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Fair Value, Total | 99,301 | 114,956 |
Available for Sale, Amortized Cost, Total | 313,082 | |
Gross Amortized Cost, Held for Investment Securities | 98,857 | $ 114,541 |
Fair Value, Available for Sale | 309,574 | |
Private mortgage backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Fair Value, Total | 0 | |
Available for Sale, Amortized Cost, Total | 32,448 | |
Gross Amortized Cost, Held for Investment Securities | 0 | |
Fair Value, Available for Sale | 32,176 | |
Private collateralized mortgage obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Fair Value, Total | 8,564 | |
Available for Sale, Amortized Cost, Total | 94,260 | |
Gross Amortized Cost, Held for Investment Securities | 8,564 | |
Fair Value, Available for Sale | 94,114 | |
Corporate and other debt securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Fair Value, Total | 0 | |
Available for Sale, Amortized Cost, Total | 32,171 | |
Gross Amortized Cost, Held for Investment Securities | 0 | |
Fair Value, Available for Sale | 31,981 | |
Private commercial mortgage backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Fair Value, Total | 0 | |
Available for Sale, Amortized Cost, Total | 20,632 | |
Gross Amortized Cost, Held for Investment Securities | 0 | |
Fair Value, Available for Sale | $ 20,587 |
SECURITIES - Schedule of Unreal
SECURITIES - Schedule of Unrealized Loss and Fair Value on Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value | ||
Less than 12 months | $ 310,854 | $ 301,040 |
12 months or longer | 199,834 | 226,642 |
Total | 510,688 | 527,682 |
Unrealized Losses | ||
Less than 12 months | (3,182) | (3,672) |
12 months or longer | (4,813) | (6,354) |
Total | (7,995) | (10,026) |
Collateralized Loan Obligations [Member] | ||
Fair Value | ||
Less than 12 months | 37,325 | 100,714 |
12 months or longer | 24,635 | 24,511 |
Total | 61,960 | 125,225 |
Unrealized Losses | ||
Less than 12 months | (291) | (1,769) |
12 months or longer | (283) | (403) |
Total | (574) | (2,172) |
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities [Member] | ||
Fair Value | ||
Less than 12 months | 100 | |
12 months or longer | 0 | |
Total | 100 | |
Unrealized Losses | ||
Less than 12 months | 0 | |
12 months or longer | 0 | |
Total | 0 | |
Mortgage-backed Securities, US Government Sponsored Enterprises [Member] | ||
Fair Value | ||
Less than 12 months | 71,485 | 36,890 |
12 months or longer | 9,516 | 21,640 |
Total | 81,001 | 58,530 |
Unrealized Losses | ||
Less than 12 months | (581) | (153) |
12 months or longer | (201) | (271) |
Total | (782) | (424) |
Collateralized Mortgage Obligations Of US Government Sponsored Entities [Member] | ||
Fair Value | ||
Less than 12 months | 91,107 | 100,148 |
12 months or longer | 150,895 | 170,400 |
Total | 242,002 | 270,548 |
Unrealized Losses | ||
Less than 12 months | (732) | (833) |
12 months or longer | (4,072) | (5,523) |
Total | (4,804) | (6,356) |
Private mortage backed securities [Member] | ||
Fair Value | ||
Less than 12 months | 16,677 | |
12 months or longer | 0 | |
Total | 16,677 | |
Unrealized Losses | ||
Less than 12 months | (304) | |
12 months or longer | 0 | |
Total | (304) | |
Private collaterlized mortgage obligations [Member] | ||
Fair Value | ||
Less than 12 months | 46,084 | 61,554 |
12 months or longer | 14,788 | 10,091 |
Total | 60,872 | 71,645 |
Unrealized Losses | ||
Less than 12 months | (730) | (914) |
12 months or longer | (257) | (157) |
Total | (987) | (1,071) |
Obligations of state and political subdivisions [Member] | ||
Fair Value | ||
Less than 12 months | 13,256 | 1,734 |
12 months or longer | 0 | 0 |
Total | 13,256 | 1,734 |
Unrealized Losses | ||
Less than 12 months | (276) | (3) |
12 months or longer | 0 | 0 |
Total | (276) | $ (3) |
Corporate and other debt securities [member] | ||
Fair Value | ||
Less than 12 months | 21,276 | |
12 months or longer | 0 | |
Total | 21,276 | |
Unrealized Losses | ||
Less than 12 months | (211) | |
12 months or longer | 0 | |
Total | (211) | |
Private commercial mortgage backed securities [Member] | ||
Fair Value | ||
Less than 12 months | 13,644 | |
12 months or longer | 0 | |
Total | 13,644 | |
Unrealized Losses | ||
Less than 12 months | (57) | |
12 months or longer | 0 | |
Total | $ (57) |
LOANS - Additional Information
LOANS - Additional Information (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
PCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Deferred Costs, Noncurrent | $ 6.2 | $ 3.6 |
LOANS - Information Relating to
LOANS - Information Relating to Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | $ 1,937,399 | $ 1,821,885 |
Construction and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 95,178 | 87,036 |
Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 892,328 | 837,147 |
Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 695,777 | 686,897 |
Other loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 878 | 512 |
Commercial and financial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 190,325 | 157,396 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 62,913 | 52,897 |
Portfolio Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 1,645,859 | 1,488,005 |
Portfolio Loans [Member] | Construction and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 79,644 | 65,896 |
Portfolio Loans [Member] | Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 693,212 | 610,863 |
Portfolio Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 657,247 | 639,428 |
Portfolio Loans [Member] | Other loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 878 | 512 |
Portfolio Loans [Member] | Commercial and financial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 153,455 | 120,763 |
Portfolio Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 61,423 | 50,543 |
PCI Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 6,562 | 7,814 |
PCI Loans [Member] | Construction and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 1,489 | 1,557 |
PCI Loans [Member] | Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 3,350 | 4,092 |
PCI Loans [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 506 | 851 |
PCI Loans [Member] | Other loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 0 | 0 |
PCI Loans [Member] | Commercial and financial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 1,217 | 1,312 |
PCI Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 0 | 2 |
PULs [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 284,978 | 326,066 |
PULs [Member] | Construction and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 14,045 | 19,583 |
PULs [Member] | Commercial real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 195,766 | 222,192 |
PULs [Member] | Residential real estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 38,024 | 46,618 |
PULs [Member] | Other loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 0 | 0 |
PULs [Member] | Commercial and financial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | 35,653 | 35,321 |
PULs [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
NET LOAN BALANCES | $ 1,490 | $ 2,352 |
LOANS - Summarizes Changes in T
LOANS - Summarizes Changes in Total Contractually Required Principal and Interest Cash Payments (Details) - Purchased Credit Impaired Loan [Member] $ in Thousands | 6 Months Ended |
Jun. 30, 2015USD ($) | |
Schedule of Contractually Required Principal And Interest Cash Payments Changes [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 7,750 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 6,350 |
Contractually required principal and interest [Member] | |
Schedule of Contractually Required Principal And Interest Cash Payments Changes [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 14,831 |
Deletions | (3,267) |
Accretion | 0 |
Reclassifications from nonaccretable difference | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 11,564 |
Non-accretable difference [Member] | |
Schedule of Contractually Required Principal And Interest Cash Payments Changes [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | (5,825) |
Deletions | 1,663 |
Accretion | 0 |
Reclassifications from nonaccretable difference | 261 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | (3,901) |
Cash flows expected to be collected [Member] | |
Schedule of Contractually Required Principal And Interest Cash Payments Changes [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 9,006 |
Deletions | (1,604) |
Accretion | 0 |
Reclassifications from nonaccretable difference | 261 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 7,663 |
Accretable yield [Member] | |
Schedule of Contractually Required Principal And Interest Cash Payments Changes [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | (1,192) |
Deletions | 148 |
Accretion | 204 |
Reclassifications from nonaccretable difference | (261) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | (1,101) |
Carrying value of acquired loans [Member] | |
Schedule of Contractually Required Principal And Interest Cash Payments Changes [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 7,814 |
Deletions | (1,456) |
Accretion | 204 |
Reclassifications from nonaccretable difference | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 6,562 |
Allowance for loan losses [Member] | |
Schedule of Contractually Required Principal And Interest Cash Payments Changes [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | (64) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ (212) |
LOANS - Contractual Aging of Re
LOANS - Contractual Aging of Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 19,597 | $ 21,140 |
Current | 1,915,013 | 1,794,667 |
Total Financing Receivables | 1,937,399 | 1,821,885 |
Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,794 | 5,322 |
Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 925 | 543 |
Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 70 | 213 |
Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 15,054 | 18,563 |
Current | 1,628,615 | 1,467,730 |
Total Financing Receivables | 1,645,859 | 1,488,005 |
Portfolio Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,359 | 1,511 |
Portfolio Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 790 | 184 |
Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 41 | 17 |
Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,258 | 5 |
Current | 282,121 | 322,265 |
Total Financing Receivables | 284,978 | 326,066 |
Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 435 | 3,716 |
Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 135 | 0 |
Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 29 | 80 |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,285 | 2,572 |
Current | 4,277 | 4,672 |
Total Financing Receivables | 6,562 | 7,814 |
Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 95 |
Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 359 |
Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 116 |
Commercial and financial [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 153,434 | 120,531 |
Total Financing Receivables | 153,456 | 120,763 |
Commercial and financial [Member] | Portfolio Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 22 | 232 |
Commercial and financial [Member] | Portfolio Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial and financial [Member] | Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial and financial [Member] | Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 35,497 | 34,368 |
Total Financing Receivables | 35,652 | 35,321 |
Commercial and financial [Member] | Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 20 | 953 |
Commercial and financial [Member] | Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 135 | 0 |
Commercial and financial [Member] | Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial and financial [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 1,217 | 1,312 |
Total Financing Receivables | 1,217 | 1,312 |
Commercial and financial [Member] | Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial and financial [Member] | Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial and financial [Member] | Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 233 | 191 |
Current | 61,123 | 50,071 |
Total Financing Receivables | 61,423 | 50,543 |
Consumer [Member] | Portfolio Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 67 | 256 |
Consumer [Member] | Portfolio Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 25 |
Consumer [Member] | Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer [Member] | Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 1,490 | 2,352 |
Total Financing Receivables | 1,490 | 2,352 |
Consumer [Member] | Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer [Member] | Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer [Member] | Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 0 | 2 |
Total Financing Receivables | 0 | 2 |
Consumer [Member] | Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer [Member] | Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Consumer [Member] | Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial real estate [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,483 | 3,457 |
Current | 690,070 | 606,642 |
Total Financing Receivables | 693,210 | 610,863 |
Commercial real estate [Member] | Portfolio Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 603 | 764 |
Commercial real estate [Member] | Portfolio Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 54 | 0 |
Commercial real estate [Member] | Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial real estate [Member] | Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,215 | 0 |
Current | 193,144 | 219,833 |
Total Financing Receivables | 195,768 | 222,192 |
Commercial real estate [Member] | Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 409 | 2,318 |
Commercial real estate [Member] | Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Commercial real estate [Member] | Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 41 |
Commercial real estate [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 724 | 733 |
Current | 2,626 | 2,993 |
Total Financing Receivables | 3,350 | 4,092 |
Commercial real estate [Member] | Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 7 |
Commercial real estate [Member] | Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 359 |
Commercial real estate [Member] | Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Construction and land development [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 303 | 534 |
Current | 78,728 | 65,362 |
Total Financing Receivables | 79,645 | 65,896 |
Construction and land development [Member] | Portfolio Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 48 | 0 |
Construction and land development [Member] | Portfolio Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 525 | 0 |
Construction and land development [Member] | Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 41 | 0 |
Construction and land development [Member] | Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 43 | 0 |
Current | 14,001 | 19,280 |
Total Financing Receivables | 14,044 | 19,583 |
Construction and land development [Member] | Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 303 |
Construction and land development [Member] | Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Construction and land development [Member] | Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Construction and land development [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,367 | 1,428 |
Current | 122 | 129 |
Total Financing Receivables | 1,489 | 1,557 |
Construction and land development [Member] | Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Construction and land development [Member] | Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Construction and land development [Member] | Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Financing Receivables | 695,777 | 686,897 |
Residential real estate [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 12,035 | 14,381 |
Current | 644,382 | 624,612 |
Total Financing Receivables | 657,247 | 639,428 |
Residential real estate [Member] | Portfolio Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 619 | 259 |
Residential real estate [Member] | Portfolio Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 211 | 159 |
Residential real estate [Member] | Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 17 |
Residential real estate [Member] | Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 5 |
Current | 37,989 | 46,432 |
Total Financing Receivables | 38,024 | 46,618 |
Residential real estate [Member] | Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 6 | 142 |
Residential real estate [Member] | Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Residential real estate [Member] | Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 29 | 39 |
Residential real estate [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 194 | 411 |
Current | 312 | 236 |
Total Financing Receivables | 506 | 851 |
Residential real estate [Member] | Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 88 |
Residential real estate [Member] | Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Residential real estate [Member] | Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 116 |
Other [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 878 | 512 |
Total Financing Receivables | 878 | 512 |
Other [Member] | Portfolio Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Other [Member] | Portfolio Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Other [Member] | Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Other [Member] | Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 0 | 0 |
Total Financing Receivables | 0 | 0 |
Other [Member] | Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Other [Member] | Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Other [Member] | Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Other [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 0 | 0 |
Total Financing Receivables | 0 | 0 |
Other [Member] | Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Other [Member] | Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Other [Member] | Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 0 | $ 0 |
LOANS - Risk Category, Class of
LOANS - Risk Category, Class of Loans and Recorded Investment (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 1,937,399 | $ 1,821,885 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 95,178 | 87,036 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 892,328 | 837,147 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 695,777 | 686,897 |
Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 190,325 | 157,396 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 63,791 | 53,409 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,858,011 | 1,739,894 |
Pass [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 84,789 | 79,397 |
Pass [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 855,600 | 797,934 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 667,063 | 655,518 |
Pass [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 188,446 | 155,281 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 62,113 | 51,764 |
Special mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,114 | 15,653 |
Special mention [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,640 | 1,815 |
Special mention [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,570 | 11,709 |
Special mention [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,112 | 546 |
Special mention [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 906 | 993 |
Special mention [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 886 | 590 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,236 | 20,201 |
Substandard [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,712 | 1,685 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 12,445 | 15,325 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,065 | 1,733 |
Substandard [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 858 | 1,002 |
Substandard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 156 | 456 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Doubtful [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 19,597 | 21,140 |
Nonaccrual [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,713 | 1,963 |
Nonaccrual [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,422 | 4,189 |
Nonaccrual [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 12,229 | 14,797 |
Nonaccrual [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Nonaccrual [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 233 | 191 |
Pass-Troubled debt restructures [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,194 | 4,021 |
Pass-Troubled debt restructures [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,949 | 1,672 |
Pass-Troubled debt restructures [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,788 | 2,332 |
Pass-Troubled debt restructures [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 36 | 17 |
Pass-Troubled debt restructures [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18 | 0 |
Pass-Troubled debt restructures [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 403 | 0 |
Troubled debt restructures [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 19,247 | 20,976 |
Troubled debt restructures [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 375 | 504 |
Troubled debt restructures [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,503 | 5,658 |
Troubled debt restructures [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,272 | 14,286 |
Troubled debt restructures [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 97 | 120 |
Troubled debt restructures [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 408 |
IMPAIRED LOANS AND ALLOWANCE 36
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Additional Information (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable, Modifications [Line Items] | |||
Troubled Debt Restructuring Outstanding | $ 23,400,000 | $ 25,000,000 | |
Loans and Leases Receivable, Impaired, Troubled Debt, Interest Income | 477,000 | $ 704,000 | |
Loans and Leases Receivable, Impaired, Interest Income Recognized, Change in Present Value Attributable to Passage of Time | 142,000 | 141,000 | |
Loans [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Newly identified TDRs | $ 900,000 | ||
Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Newly identified TDRs | $ 5,300,000 |
IMPAIRED LOANS AND ALLOWANCE 37
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Modified Loans (Details) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015USD ($)Number | Jun. 30, 2014USD ($)Number | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Number | 4 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 985 | $ 4,901 |
Post-Modification Outstanding Recorded Investment | 929 | 4,539 |
Specific Reserve Recorded | 0 | 0 |
Valuation Allowance Recorded | $ 56 | $ 362 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Number | 1 | 3 |
Pre-Modification Outstanding Recorded Investment | $ 26 | $ 601 |
Post-Modification Outstanding Recorded Investment | 25 | 564 |
Specific Reserve Recorded | 0 | 0 |
Valuation Allowance Recorded | $ 1 | $ 37 |
Commercial Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Number | 2 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 911 | $ 4,300 |
Post-Modification Outstanding Recorded Investment | 859 | 3,975 |
Specific Reserve Recorded | 0 | 0 |
Valuation Allowance Recorded | $ 52 | $ 325 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Number | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 48 | |
Post-Modification Outstanding Recorded Investment | 45 | |
Specific Reserve Recorded | 0 | |
Valuation Allowance Recorded | $ 3 |
IMPAIRED LOANS AND ALLOWANCE 38
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Company's Recorded Investments in Impaired Loans and the Related Valuation Allowances (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Recorded Investment | ||
Total | $ 38,535 | $ 43,577 |
Unpaid Principal Balance | ||
Total | 44,995 | 51,269 |
Related Valuation Allowance | ||
Total | 3,136 | 3,541 |
Construction Land Development [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 1,762 | 1,824 |
Impaired Loans with an Allowance Recorded | 905 | 886 |
Total | 2,667 | 2,710 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 2,070 | 2,239 |
Impaired Loans with an Allowance Recorded | 935 | 931 |
Total | 3,005 | 3,170 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 142 | 159 |
Total | 142 | 159 |
Commercial Real Estate [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 3,434 | 3,087 |
Impaired Loans with an Allowance Recorded | 6,341 | 8,359 |
Total | 9,775 | 11,446 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 4,804 | 4,600 |
Impaired Loans with an Allowance Recorded | 6,414 | 8,469 |
Total | 11,218 | 13,069 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 417 | 529 |
Total | 417 | 529 |
Residential Real Estate [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 10,264 | 11,898 |
Impaired Loans with an Allowance Recorded | 15,078 | 16,804 |
Total | 25,342 | 28,702 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 14,500 | 16,562 |
Impaired Loans with an Allowance Recorded | 15,455 | 17,693 |
Total | 29,955 | 34,255 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 2,483 | 2,741 |
Total | 2,483 | 2,741 |
Commercial And Financial [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 115 | 120 |
Impaired Loans with an Allowance Recorded | 0 | 0 |
Total | 115 | 120 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 115 | 120 |
Impaired Loans with an Allowance Recorded | 0 | 0 |
Total | 115 | 120 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 0 | 0 |
Total | 0 | 0 |
Consumer [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 156 | 65 |
Impaired Loans with an Allowance Recorded | 480 | 534 |
Total | 636 | 599 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 214 | 93 |
Impaired Loans with an Allowance Recorded | 488 | 562 |
Total | 702 | 655 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 94 | 112 |
Total | $ 94 | $ 112 |
IMPAIRED LOANS AND ALLOWANCE 39
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Company's Average Recorded Investments in Impaired Loans and Related Interest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Average Recorded Investment | ||||
Total | $ 40,103 | $ 50,472 | $ 41,392 | $ 51,352 |
Interest Income Recognized | ||||
Total | 234 | 444 | 477 | 704 |
Commercial Real Estate [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 2,942 | 1,547 | 2,950 | 2,394 |
Impaired Loans with an Allowance Recorded | 7,188 | 10,952 | 7,649 | 9,853 |
Total | 10,130 | 12,499 | 10,599 | 12,247 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 23 | 7 | 27 | 7 |
Impaired Loans with an Allowance Recorded | 51 | 268 | 125 | 361 |
Total | 74 | 275 | 152 | 368 |
Residential Real Estate [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 10,877 | 12,063 | 11,268 | 12,333 |
Impaired Loans with an Allowance Recorded | 15,682 | 21,505 | 16,106 | 22,215 |
Total | 26,559 | 33,568 | 27,374 | 34,548 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 30 | 4 | 65 | 7 |
Impaired Loans with an Allowance Recorded | 99 | 122 | 198 | 251 |
Total | 129 | 126 | 263 | 258 |
Construction and Land Development [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 1,838 | 2,036 | 1,839 | 2,196 |
Impaired Loans with an Allowance Recorded | 816 | 1,367 | 832 | 1,311 |
Total | 2,654 | 3,403 | 2,671 | 3,507 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 14 | 29 | 32 | 51 |
Impaired Loans with an Allowance Recorded | 11 | 6 | 16 | 12 |
Total | 25 | 35 | 48 | 63 |
Commercial And Financial [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 116 | 50 | 118 | 76 |
Impaired Loans with an Allowance Recorded | 0 | 112 | 0 | 88 |
Total | 116 | 162 | 118 | 164 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 1 | 3 | 3 | 5 |
Impaired Loans with an Allowance Recorded | 0 | 0 | 0 | 0 |
Total | 1 | 3 | 3 | 5 |
Consumer [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 141 | 302 | 114 | 345 |
Impaired Loans with an Allowance Recorded | 503 | 538 | 516 | 541 |
Total | 644 | 840 | 630 | 886 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 0 | 0 | 0 | 0 |
Impaired Loans with an Allowance Recorded | 5 | 5 | 11 | 10 |
Total | $ 5 | $ 5 | $ 11 | $ 10 |
IMPAIRED LOANS AND ALLOWANCE 40
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Allowance for Loan Losses: | ||||
Beginning Balance | $ 17,628 | $ 19,472 | $ 17,071 | $ 20,068 |
Provision for Loan Losses | 855 | (1,444) | 1,288 | (2,179) |
Charge-Offs | (635) | (381) | (1,218) | (745) |
Recoveries | 850 | 493 | 1,650 | 996 |
Net (Charge-Offs) Recoveries | 215 | 112 | 432 | 251 |
Ending Balance | 18,791 | 18,140 | 18,791 | 18,140 |
Construction and Land Development [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 842 | 796 | 722 | 808 |
Provision for Loan Losses | (101) | 240 | 19 | 204 |
Charge-Offs | (19) | (196) | (66) | (199) |
Recoveries | 165 | 27 | 212 | 54 |
Net (Charge-Offs) Recoveries | 146 | (169) | 146 | (145) |
Ending Balance | 887 | 867 | 887 | 867 |
Commercial Real Estate [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 4,827 | 6,753 | 4,528 | 6,160 |
Provision for Loan Losses | 535 | (1,528) | 765 | (1,087) |
Charge-Offs | (146) | (50) | (302) | (134) |
Recoveries | 62 | 18 | 287 | 254 |
Net (Charge-Offs) Recoveries | (84) | (32) | (15) | 120 |
Ending Balance | 5,278 | 5,193 | 5,278 | 5,193 |
Residential Real Estate [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 9,666 | 10,358 | 9,784 | 11,659 |
Provision for Loan Losses | (182) | (32) | (549) | (1,410) |
Charge-Offs | (155) | (95) | (322) | (207) |
Recoveries | 358 | 400 | 773 | 589 |
Net (Charge-Offs) Recoveries | 203 | 305 | 451 | 382 |
Ending Balance | 9,686 | 10,631 | 9,686 | 10,631 |
Commercial And Financial [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 1,374 | 853 | 1,179 | 710 |
Provision for Loan Losses | (411) | (167) | (288) | 53 |
Charge-Offs | (255) | 0 | (274) | (108) |
Recoveries | 237 | 23 | 328 | 54 |
Net (Charge-Offs) Recoveries | (18) | 23 | 54 | (54) |
Ending Balance | 945 | 709 | 945 | 709 |
Consumer [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 919 | 712 | 794 | 731 |
Provision for Loan Losses | 895 | 43 | 1,193 | 61 |
Charge-Offs | (60) | (40) | (254) | (97) |
Recoveries | 28 | 25 | 50 | 45 |
Net (Charge-Offs) Recoveries | (32) | (15) | (204) | (52) |
Ending Balance | $ 1,783 | $ 740 | $ 1,783 | $ 740 |
IMPAIRED LOANS AND ALLOWANCE 41
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Loan Portfolio and Related Allowance (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Carrying Value | ||
Individually Evaluated for Impairment | $ 38,535 | $ 43,577 |
Collectively Evaluated for Impairment | 1,892,302 | 1,770,494 |
Total | 1,930,837 | 1,814,071 |
Associated Allowance | ||
Individually Evaluated for Impairment | 3,136 | 3,541 |
Collectively Evaluated for Impairment | 15,443 | 13,466 |
Total | 18,579 | 17,007 |
PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 6,562 | 7,814 |
Associated Allowance | ||
Individually Evaluated for Impairment | 212 | 64 |
Construction and Land Development [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 2,667 | 2,710 |
Collectively Evaluated for Impairment | 91,022 | 82,769 |
Total | 93,689 | 85,479 |
Associated Allowance | ||
Individually Evaluated for Impairment | 142 | 159 |
Collectively Evaluated for Impairment | 745 | 563 |
Total | 887 | 722 |
Construction and Land Development [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 1,489 | 1,557 |
Associated Allowance | ||
Individually Evaluated for Impairment | 212 | 43 |
Commercial Real Estate [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 9,775 | 11,446 |
Collectively Evaluated for Impairment | 879,203 | 821,609 |
Total | 888,978 | 833,055 |
Associated Allowance | ||
Individually Evaluated for Impairment | 417 | 529 |
Collectively Evaluated for Impairment | 4,861 | 3,999 |
Total | 5,278 | 4,528 |
Commercial Real Estate [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 3,350 | 4,092 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 3 |
Residential Real Estate [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 25,342 | 28,702 |
Collectively Evaluated for Impairment | 669,929 | 657,344 |
Total | 695,271 | 686,046 |
Associated Allowance | ||
Individually Evaluated for Impairment | 2,483 | 2,741 |
Collectively Evaluated for Impairment | 7,203 | 7,043 |
Total | 9,686 | 9,784 |
Residential Real Estate [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 506 | 851 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 18 |
Commercial And Financial [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 115 | 120 |
Collectively Evaluated for Impairment | 188,993 | 155,964 |
Total | 189,108 | 156,084 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Collectively Evaluated for Impairment | 945 | 1,179 |
Total | 945 | 1,179 |
Commercial And Financial [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 1,217 | 1,312 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Consumer [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 636 | 599 |
Collectively Evaluated for Impairment | 63,155 | 52,808 |
Total | 63,791 | 53,407 |
Associated Allowance | ||
Individually Evaluated for Impairment | 94 | 112 |
Collectively Evaluated for Impairment | 1,689 | 682 |
Total | 1,783 | 794 |
Consumer [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 0 | 2 |
Associated Allowance | ||
Individually Evaluated for Impairment | $ 0 | $ 0 |
SECURITIES SOLD UNDER AGREEME42
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Schedule Of Securities Financing Transactions (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities Financing Transaction [Line Items] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | $ 157,676 | $ 153,640 |
EQUITY CAPITAL - Additional Inf
EQUITY CAPITAL - Additional Information (Details) | Jun. 30, 2015 |
Class of Stock [Line Items] | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% |
FAIR VALUE - Additional Informa
FAIR VALUE - Additional Information (Details) - Jun. 30, 2015 - USD ($) $ in Millions | Total |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Capitalization Rates Utilized To Determine Fair Value Of Underlying Collateral Averaged Percentage | 8.10% |
Loans Receivable [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | $ 0.4 |
FairValue Measurement With Unobservable Inputs Reconciliation Liability Transfers Charge Offs | 0.2 |
Other Real Estate Owned And Other Reductions | 0.8 |
Other Real Estate Owned [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0 |
Valuation Write Downs | $ 2.1 |
FAIR VALUE - Fair Value Measure
FAIR VALUE - Fair Value Measurements for Items Measured at Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | $ 5,908 | $ 7,462 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale securities | [1] | 762,086 | 741,375 |
Loans held for sale | [2] | 19,656 | 12,078 |
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale securities | [1] | 3,843 | 3,899 |
Loans held for sale | [2] | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale securities | [1] | 758,243 | 737,476 |
Loans held for sale | [2] | 19,656 | 12,078 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale securities | [1] | 0 | 0 |
Loans held for sale | [2] | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | [3] | 7,913 | 10,409 |
Other real estate owned | [4] | 5,908 | 7,462 |
Fair Value, Measurements, Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | [3] | 0 | 0 |
Other real estate owned | [4] | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | [3] | 6,420 | 8,324 |
Other real estate owned | [4] | 2,055 | 1,468 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | [3] | 1,493 | 2,085 |
Other real estate owned | [4] | $ 3,853 | $ 5,994 |
[1] | See Note D for further detail of fair value of individual investment categories. | ||
[2] | Recurring fair value basis determined using observable market data. | ||
[3] | See Note F. Nonrecurring fair value adjustments to loans identified as impaired reflect full or partial write-downs that are based on the loan’s observable market price or current appraised value of the collateral in accordance with ASC 310. | ||
[4] | Fair value is measured on a nonrecurring basis in accordance with ASC 360. |
FAIR VALUE - Summary of Carryin
FAIR VALUE - Summary of Carrying Value and Fair Value of Company's Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities held to maturity | $ 214,777 | $ 207,904 | |
Loans, net | 1,918,608 | 1,804,814 | |
Quoted Prices in Active Markets for Identical Assets Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities held to maturity | [1] | 0 | 0 |
Loans, net | 0 | 0 | |
Deposit liabilities | 0 | 0 | |
Borrowings | 0 | 0 | |
Subordinated debt | 0 | 0 | |
Significant Other Observable Inputs Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities held to maturity | [1] | 216,176 | 208,788 |
Loans, net | 0 | 0 | |
Deposit liabilities | 0 | 0 | |
Borrowings | 52,424 | 53,584 | |
Subordinated debt | 53,948 | 53,861 | |
Significant Unobservable Inputs Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities held to maturity | [1] | 0 | 0 |
Loans, net | 1,926,219 | 1,814,746 | |
Deposit liabilities | 2,605,883 | 2,417,355 | |
Borrowings | 0 | 0 | |
Subordinated debt | 0 | 0 | |
Carrying Amount [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities held to maturity | [1] | 214,777 | 207,904 |
Loans, net | 1,910,695 | 1,794,405 | |
Deposit liabilities | 2,605,177 | 2,416,534 | |
Borrowings | 50,000 | 50,000 | |
Subordinated debt | $ 64,670 | $ 64,583 | |
[1] | See Note D for further detail of fair value of individual investment categories. |
ACQUISITION - Additional Inform
ACQUISITION - Additional Information (Details) - Jul. 17, 2015 - Subsequent Event [Member] - USD ($) $ / shares in Units, $ in Thousands | Total |
Business Acquisition [Line Items] | |
Business Combination Percent Increase in Company Assets | 6.50% |
Business Combination Percent Increase in Company Deposits | 7.30% |
The Bank shares Inc [Member] | Common Stock [Member] | |
Business Acquisition [Line Items] | |
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% |
Stock Issued During Period, Shares, Acquisitions | 1,090,000 |
Shares Issued, Price Per Share | $ 15.75 |
Series B Preferred Stock [Member] | The Bank shares Inc [Member] | |
Business Acquisition [Line Items] | |
Preferred Stock, Par or Stated Value Per Share | $ 1,000 |
Payments to Acquire Businesses, Gross | $ 1,480 |
Stock Issued During Period, Value, Acquisitions | $ 18,700 |
Series A Preferred Stock [Member] | Common Stock [Member] | |
Business Acquisition [Line Items] | |
Conversion of Stock, Shares Converted | 0.3114 |