Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2015shares | |
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 | 34,346,456 |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2015 |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q3 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
ASSETS | |||
Cash and due from banks | $ 69,650 | $ 64,411 | |
Interest bearing deposits with other banks | 30,991 | 36,128 | |
Total cash and cash equivalents | 100,641 | 100,539 | |
Securities: | |||
Available for sale (at fair value) | 728,161 | 741,375 | |
Held for investment (fair value: $212,362 at September 30, 2015, and $208,788 at December 31, 2014) | 209,047 | 207,904 | |
Total Securities | 937,208 | 949,279 | |
Loans held for sale (at fair value) | 16,738 | 12,078 | |
Loans | [1] | 2,099,447 | 1,821,885 |
Less: Allowance for loan losses | (19,328) | (17,071) | |
NET LOANS | 2,080,119 | 1,804,814 | |
Bank premises and equipment, net | 54,900 | 45,086 | |
Other real estate owned | 7,433 | 7,462 | |
Goodwill | 25,864 | 25,309 | |
Other intangible assets, net | 8,991 | 7,454 | |
Bank owned life insurance | 43,251 | 35,679 | |
Other assets | 102,963 | 105,635 | |
TOTAL ASSETS | 3,378,108 | 3,093,335 | |
LIABILITIES | |||
Deposits | 2,742,296 | 2,416,534 | |
Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days | 148,607 | 233,640 | |
Borrowed funds | 50,000 | 50,000 | |
Subordinated debt | 69,891 | 64,583 | |
Other liabilities | 17,034 | 15,927 | |
Total liabilities | 3,027,828 | 2,780,684 | |
SHAREHOLDERS' EQUITY | |||
Common stock, par value $0.10 per share, authorized 60,000,000 shares, issued 34,349,824 and outstanding 34,346,456 shares at September 30, 2015 and issued 33,143,202 and outstanding 33,136,592 shares at December 31, 2014 | 3,435 | 3,300 | |
Other shareholders' equity | 346,845 | 309,351 | |
TOTAL SHAREHOLDERS' EQUITY | 350,280 | 312,651 | |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 3,378,108 | $ 3,093,335 | |
[1] | Net loan balances as of September 30, 2015 and December 31, 2014 are net of deferred costs of $6.6 million and $3.6 million for each period, respectively. |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Held for investment fair value | $ 212,362 | $ 208,788 |
Common stock, par value | $ 0.10 | $ 0.10 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares issued | 34,349,824 | 33,143,202 |
Common stock, shares outstanding | 34,346,456 | 33,136,592 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest and fees on loans | $ 25,276 | $ 14,615 | $ 69,285 | $ 42,516 |
Interest and dividends on securities | 5,298 | 3,665 | 15,470 | 10,749 |
Interest on interest bearing deposits and other investments | 249 | 211 | 747 | 725 |
TOTAL INTEREST INCOME | 30,823 | 18,491 | 85,502 | 53,990 |
Interest on deposits | 857 | 559 | 2,450 | 1,730 |
Interest on borrowed money | 955 | 704 | 2,665 | 2,086 |
TOTAL INTEREST EXPENSE | 1,812 | 1,263 | 5,115 | 3,816 |
INTEREST EXPENSE | ||||
NET INTEREST INCOME | 29,011 | 17,228 | 80,387 | 50,174 |
Provision (recapture) for loan losses | 987 | (1,425) | 2,275 | (3,604) |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 28,024 | 18,653 | 78,112 | 53,778 |
Noninterest income | ||||
Other income | 8,082 | 6,149 | 24,236 | 17,603 |
Securities gains, net (includes net losses of $494 and $325 in other comprehensive income reclassifications for the three months and nine months ended September 30, 2015, respectively, and net gains $368 and $1 for 2014, respectively) | 160 | 344 | 160 | 361 |
TOTAL NONINTEREST INCOME | 8,242 | 6,493 | 24,396 | 17,964 |
TOTAL NONINTEREST EXPENSES | 29,127 | 19,889 | 76,601 | 59,355 |
INCOME BEFORE INCOME TAXES | 7,139 | 5,257 | 25,907 | 12,387 |
Provision for income taxes (includes $191 and $125 in income tax expense from reclassification items for the three months and nine months ended September 30, 2015, respectively, and $142 and $0 in tax expense for 2014, respectively) | 2,698 | 2,261 | 9,802 | 5,174 |
NET INCOME | $ 4,441 | $ 2,996 | $ 16,105 | $ 7,213 |
Net income (loss) per share of common stock | ||||
Net income diluted (in dollars per share) | $ 0.13 | $ 0.12 | $ 0.48 | $ 0.28 |
Net income basic (in dollars per share) | 0.13 | 0.12 | 0.48 | 0.28 |
Cash dividends declared (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Average shares outstanding - diluted (in shares) | 34,193,540 | 26,025,693 | 33,524,718 | 25,894,881 |
Average shares outstanding - basic (in shares) | 33,907,178 | 25,887,591 | 33,286,933 | 25,736,140 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Reclassification adjustment for securities gains included in net income | $ 494 | $ 368 | $ 325 | $ 1 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ 191 | $ 142 | $ 125 | $ 0 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
NET INCOME | $ 4,441 | $ 2,996 | $ 16,105 | $ 7,213 |
Other comprehensive income: | ||||
Unrealized gains (losses) on securities available for sale | 1,757 | (2,078) | 4,223 | 11,529 |
Unrealized (losses) on securities that were transferred to securities held for investment, net | 0 | 0 | 0 | (3,137) |
Amortization of unrealized losses on securities transferred to held for investment, net | (123) | (123) | (416) | (164) |
Reclassification adjustment for losses (gains) included in net income | 494 | (368) | 325 | (1) |
Benefit (provision) for income taxes | (822) | 992 | (1,595) | (3,176) |
COMPREHENSIVE INCOME | $ 5,747 | $ 1,419 | $ 18,642 | $ 12,264 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities | ||
Interest received | $ 85,115 | $ 54,993 |
Fees and commissions received | 23,833 | 17,237 |
Interest paid | (5,091) | (3,828) |
Cash paid to suppliers and employees | (71,573) | (56,851) |
Origination of loans held for sale | (159,662) | (135,511) |
Proceeds from loans held for sale | 155,002 | 130,859 |
Net change in other assets | (578) | (231) |
Net cash provided by operating activities | 27,046 | 6,668 |
Cash flows from investing activities | ||
Maturity of securities available for sale | 93,830 | 66,683 |
Maturity of securities held for investment | 23,115 | 9,339 |
Proceeds from sale of securities available for sale | 60,314 | 16,444 |
Purchase of securities available for sale | (87,468) | (194,951) |
Purchase of securities held for investment | (24,366) | (27,332) |
Net new loans and principal repayments | (172,858) | (87,534) |
Proceeds from the sale of other real estate owned | 4,688 | 3,276 |
Proceeds from sale of Federal Home Loan Bank (FHLB) and Federal Reserve Bank stock | 7,427 | 600 |
Purchase of FHLB and Federal Reserve Stock | (6,798) | (3,600) |
Net cash from bank acquisition (net of $1,481 paid for preferred stock) | 32,927 | 0 |
Additions to bank premises and equipment | (8,466) | (2,701) |
Net cash (used in) provided by investing activities | (77,655) | (219,776) |
Cash flows from financing activities | ||
Net increase in deposits | 137,307 | 2,505 |
Net increase (decrease) in federal funds purchased and repurchase agreements | (86,690) | 53,126 |
Issuance of common stock, net of related expense | 0 | 24,637 |
Stock based employee benefit plans | 94 | 112 |
Net cash provided by financing activities | 50,711 | 80,380 |
Net decrease in cash and cash equivalents | 102 | (132,728) |
Cash and cash equivalents at beginning of period | 100,539 | 191,624 |
Cash and cash equivalents at end of period | 100,641 | 58,896 |
Reconciliation of net income to cash provided by operating activities | ||
NET INCOME | 16,105 | 7,213 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 2,722 | 2,396 |
Amortization of premiums and discounts on securities, net | 3,061 | 1,494 |
Other amortization and accretion, net | (1,895) | 804 |
Change in loans held for sale, net | (4,660) | (4,652) |
Provision (recapture) for loan losses | 2,275 | (3,604) |
Gain on sale of securities | (160) | (361) |
Gain on sale of loans | (658) | (624) |
Losses on sale and write-downs of other real estate owned | 397 | 301 |
Losses (gains) on disposition of fixed assets | 120 | 1 |
Change in interest receivable | (527) | (707) |
Change in interest payable | 24 | (13) |
Change in prepaid expenses | (1,097) | (551) |
Change in accrued taxes | 10,326 | 5,534 |
Change in other assets | (578) | (231) |
Change in other liabilities | 1,591 | (332) |
Net cash provided by operating activities | 27,046 | 6,668 |
Supplemental disclosure of non cash investing activities: | ||
Fair value adjustment to securities | 3,711 | 11,198 |
Transfer from loans to other real estate owned | 4,937 | 1,672 |
Matured securities recorded as a receivable | 96 | 416 |
Transfer from securities available for sale to securities held for investment | $ 0 | $ 158,781 |
CONSOLIDATED STATEMENTS OF CAS8
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Payments to Acquire Businesses, Gross | $ 1,481 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 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 nine-month period ended September 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. 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 September 30, 2015 | 9 Months Ended |
Sep. 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 September 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. In September 2015, the FASB issued new guidance related to Business Combinations under ASC 805. The ASU requires acquirers to recognize adjustments to provisional amounts (identified during the measurement period) in the reporting period in which the adjustment amounts are determined. The ASU requires such amounts to be disclosed in the consolidated financial statements. The guidance is effective for years beginning after December 15, 2015, and interim periods within those fiscal years. The guidance is not expected to have a material impact to our consolidated financial condition or results of operation. |
BASIC AND DILUTED EARNINGS (LOS
BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE C BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE 282,000 496,000 Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share data) 2015 2014 2015 2014 Basic: Net income available to common shareholders $ 4,441 $ 2,996 $ 16,105 $ 7,213 Average basic shares outstanding 33,907,178 25,887,591 33,286,933 25,736,140 Basic earnings per share $ 0.13 $ 0.12 $ 0.48 $ 0.28 Diluted: Net income available to common shareholders $ 4,441 $ 2,996 $ 16,105 $ 7,213 Average basic shares outstanding 33,907,178 25,887,591 33,286,933 25,736,140 Restricted stock awards 286,362 138,102 237,785 158,741 Average diluted shares outstanding 34,193,540 26,025,693 33,524,718 25,894,881 Diluted earnings per share $ 0.13 $ 0.12 $ 0.48 $ 0.28 Restricted stock awards include diluted impact of options calculated under the treasury method. |
SECURITIES
SECURITIES | 9 Months Ended |
Sep. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities [Text Block] | NOTE D SECURITIES September 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 $ 3,832 $ 97 $ 0 $ 3,929 Mortgage-backed securities of U.S. Government Sponsored Entities 117,458 1,281 (247) 118,492 Collateralized mortgage obligations of U.S. Government Sponsored Entities 257,486 1,158 (2,737) 255,907 Private mortgage backed securities 32,494 17 (295) 32,216 Private collateralized mortgage obligations 82,183 782 (777) 82,188 Collateralized loan obligations 124,464 37 (1,054) 123,447 Obligations of state and political subdivisions 32,277 818 (58) 33,037 Corporate and other debt securities 40,015 94 (191) 39,918 Private commercial mortgage backed securities 39,256 54 (283) 39,027 $ 729,465 $ 4,338 $ (5,642) $ 728,161 SECURITIES HELD FOR INVESTMENT Mortgage-backed securities of U.S. Government Sponsored Entities $ 65,787 $ 2,126 $ 0 $ 67,913 Collateralized mortgage obligations of U.S. Government Sponsored Entities 93,646 1,652 (27) 95,271 Collateralized loan obligations 41,300 111 (465) 40,946 Private collateralized mortgage obligations 8,314 0 (82) 8,232 $ 209,047 $ 3,889 $ (574) $ 212,362 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 Proceeds from sales of securities during the nine month period ended September 30, 2015 were $ 60.3 632,000 472,000 16.4 361,000 On May 31, 2014 management identified $ 158.8 3.1 2.4 Securities at September 30, 2015 with a carrying and fair value of $ 125.0 124.3 148.6 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 $ 225 $ 225 Due after one year through five years 0 0 42,560 42,307 Due after five years through ten years 41,300 40,946 106,746 106,247 Due after ten years 0 0 11,042 11,634 41,300 40,946 160,573 160,413 Mortgage-backed securities of U.S. Government Sponsored Entities 65,787 67,913 117,458 118,492 Collateralized mortgage obligations of U.S. Government Sponsored Entities 93,646 95,271 257,486 255,907 Private mortgage backed securities 0 0 32,494 32,216 Private collateralized mortgage obligations 8,314 8,232 82,183 82,188 Corporate and other debt securities 0 0 40,015 39,918 Private commercial mortgage backed securities 0 0 39,256 39,027 $ 209,047 $ 212,362 $ 729,465 $ 728,161 The estimated fair value of a security is determined based on market quotations when available or, if not available, by using quoted market prices for similar securities, pricing models or discounted cash flows analyses, using observable market data where available. September 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 securities of U.S. Government Sponsored Entities $ 26,443 $ (127) $ 12,366 $ (120) $ 38,809 $ (247) Collateralized mortgage obligations of U.S. Government Sponsored Entities 43,963 (136) 146,322 (2,628) 190,285 (2,764) Private mortage backed securities 16,724 (295) 3,287 0 20,011 (295) Private collateralized mortgage obligations 20,939 (323) 33,203 (536) 54,142 (859) Collateralized loan obligations 87,328 (828) 47,245 (691) 134,573 (1,519) Obligations of state and political subdivisions 10,716 (58) 0 0 10,716 (58) Corporate and other debt securities 22,455 (191) 0 0 22,455 (191) Private commercial mortgage backed securities 31,578 (283) 0 0 31,578 (283) Total temporarily impaired securities $ 260,146 $ (2,241) $ 242,423 $ (3,975) $ 502,569 $ (6,216) 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) The two tables above include securities held to maturity that were transferred from available for sale to held to maturity on May 31, 2014. Those securities had unrealized losses of $ 3.1 10.3 11.6 27,000 159,000 At September 30, 2015, approximately $ 1.4 105.7 30- and 15-year fixed and 10/1 adjustable rate mortgage At September 30, 2015, the Company also had $ 3.0 229.1 At September 30, 2015, the Company also had $ 1.5 134.6 Also, as of September 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 September 30, 2015. |
LOANS
LOANS | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans [Text Block] | NOTE E LOANS September 30, 2015 Portfolio Loans PCI Loans PUL's Total (Dollars in thousands) Construction and land development $ 80,406 $ 462 $ 15,168 $ 96,036 Commercial real estate 737,506 10,071 243,610 991,187 Residential real estate 671,530 1,008 50,395 722,933 Commercial and financial 166,059 1,132 43,144 210,335 Consumer 75,050 0 3,422 78,472 Other loans 484 0 0 484 NET LOAN BALANCES (1) $ 1,731,035 $ 12,673 $ 355,739 $ 2,099,447 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) $ 1,488,005 $ 7,814 $ 326,066 $ 1,821,885 (1) Net loan balances as of September 30, 2015 and December 31, 2014 are net of deferred costs of $ 6.6 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. Three Months Ended September 30, 2015 Reclassifications from nonaccretable September 30, June 30, 2015 Additions Deletions Accretion difference 2015 (In thousands) Contractually required principal and interest $ 11,564 $ 12,552 $ (609) $ 0 $ 0 $ 23,507 Nonaccretable difference (3,901) (4,249) (1,656) 0 152 (9,654) Cash flows expected to be collected 7,663 8,303 (2,265) 0 152 13,853 Accretable yield (1,101) (702) 610 165 (152) (1,180) Carrying value of acquired loans 6,562 $ 7,601 $ (1,655) $ 165 $ 0 12,673 Allowance for loan losses (212) (49) Carrying value less allowance for loan losses $ 6,350 $ 12,624 Nine Months Ended September 30, 2015 Reclassifications from December 31, nonaccretable September 30, 2014 Additions Deletions Accretion difference 2015 (In thousands) Contractually required principal and interest $ 14,831 $ 12,552 $ (3,876) $ 0 $ 0 $ 23,507 Nonaccretable difference (5,825) (4,249) 7 0 413 (9,654) Cash flows expected to be collected 9,006 8,303 (3,869) 0 413 13,853 Accretable yield (1,192) (702) 758 369 (413) (1,180) Carrying value of acquired loans 7,814 $ 7,601 $ (3,111) $ 369 $ 0 12,673 Allowance for loan losses (64) (49) Carrying value less allowance for loan losses $ 7,750 $ 12,624 The following tables present the contractual delinquency of the recorded investment in past due loans by class of loans as of September 30, 2015 and December 31, 2014: Accruing Accruing Accruing Greater Total September 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 $ 16 $ 0 $ 0 $ 809 $ 79,581 $ 80,406 Commercial real estate 165 0 0 2,557 734,784 737,506 Residential real estate 466 753 0 10,498 659,813 671,530 Commerical and financial 0 5 0 0 166,054 166,059 Consumer 0 0 0 267 74,783 75,050 Other 0 0 0 0 484 484 Total 647 758 0 14,131 1,715,499 $ 1,731,035 Purchased Unimpaired Loans Construction and land development 0 0 0 42 15,126 $ 15,168 Commercial real estate 522 0 0 1,716 241,372 243,610 Residential real estate 57 0 50 0 50,288 50,395 Commerical and financial 244 133 0 0 42,767 43,144 Consumer 0 0 0 0 3,422 3,422 Other 0 0 0 0 0 0 Total 823 133 50 1,758 352,975 $ 355,739 Purchased Credit Impaired Loans Construction and land development 0 0 0 343 119 $ 462 Commercial real estate 0 0 0 529 9,542 10,071 Residential real estate 0 0 0 349 659 1,008 Commerical and financial 0 0 0 0 1,132 1,132 Consumer 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 0 0 0 1,221 11,452 $ 12,673 Total Loans $ 1,470 $ 891 $ 50 $ 17,110 $ 2,079,926 $ 2,099,447 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. September 30, 2015 Construction Commercial & Land Commercial Residential and Consumer (Dollars in thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 88,273 $ 958,777 $ 695,872 $ 209,087 $ 77,407 $ 2,029,416 Special mention 3,486 12,377 1,484 498 840 18,685 Substandard 2,368 8,011 2,527 732 55 13,693 Doubtful 0 0 0 0 0 0 Nonaccrual 1,194 4,802 10,847 0 267 17,110 Pass-Troubled debt restructures 347 5,948 24 18 387 6,724 Troubled debt restructures 368 1,272 12,179 0 0 13,819 $ 96,036 $ 991,187 $ 722,933 $ 210,335 $ 78,956 $ 2,099,447 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 | 9 Months Ended |
Sep. 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 nine months ending September 30, 2015 and 2014, newly identified troubled debt restructurings (“TDRs”) totaled $ 2.2 5.4 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. Nine months ended September 30, 2015 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 3 1,881 1,787 0 94 Consumer 1 48 45 0 3 5 $ 1,955 $ 1,857 $ 0 $ 98 The following table presents loans that were modified within the nine months ending September 30, 2014: Nine months ended September 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 5 $ 669 $ 621 $ 0 $ 48 Commercial real estate 1 4,300 3,975 0 325 6 $ 4,969 $ 4,596 $ 0 $ 373 Only 1 1.0 0.9 2 No accruing loans that were restructured within the twelve months preceding September 30, 2015 and September 30, 2014, defaulted during the nine months ended September 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. September 30, 2015 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 123 $ 375 $ 0 Commercial real estate 2,545 4,015 0 Residential real estate 8,571 12,846 0 Commercial and financial 18 18 0 Consumer 143 207 0 Impaired Loans with an Allowance Recorded: Construction and land development 1,401 1,439 235 Commercial real estate 7,232 7,305 432 Residential real estate 14,130 14,568 2,335 Commercial and financial 0 0 0 Consumer 511 527 74 Total: Construction and land development 1,524 1,814 235 Commercial real estate 9,777 11,320 432 Residential real estate 22,701 27,414 2,335 Commercial and financial 18 18 0 Consumer 654 734 74 $ 34,674 $ 41,300 $ 3,076 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 Three Months Ended Three Months Ended September 30, 2015 September 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 $ 1,216 $ 2 $ 2,088 $ 29 Commercial real estate 3,138 7 3,067 3 Residential real estate 9,700 35 10,066 98 Commercial and financial 83 0 150 2 Consumer 152 0 276 1 Impaired Loans with an Allowance Recorded: Construction & land development 1,070 23 1,110 6 Commercial real estate 6,638 78 11,801 124 Residential real estate 14,762 89 20,125 121 Commercial and financial 0 0 9 0 Consumer 490 7 546 8 Total: Construction & land development 2,286 25 3,198 35 Commercial real estate 9,776 85 14,868 127 Residential real estate 24,462 124 30,191 219 Commercial and financial 83 0 159 2 Consumer 642 7 822 9 $ 37,249 $ 241 $ 49,238 $ 392 For the nine months ended September 30, 2015 and 2014, the Company’s average recorded investments in impaired loans and related interest income were as follows: Nine Months Ended Nine Months Ended September 30, 2015 September 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 $ 1,632 $ 7 $ 2,160 $ 80 Commercial real estate 3,012 13 2,618 10 Residential real estate 10,745 103 11,578 114 Commercial and financial 106 1 101 7 Consumer 126 0 322 1 Impaired Loans with an Allowance Recorded: Construction & land development 912 39 1,244 18 Commercial real estate 7,312 223 10,502 485 Residential real estate 15,658 270 21,518 370 Commercial and financial 0 0 61 0 Consumer 507 17 543 18 Total: Construction & land development 2,544 46 3,404 98 Commercial real estate 10,324 236 13,120 495 Residential real estate 26,403 373 33,096 484 Commercial and financial 106 1 162 7 Consumer 633 17 865 19 $ 40,010 $ 673 $ 50,647 $ 1,103 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 September 30, 2015 and December 31, 2014, accruing TDRs totaled $ 20.5 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 nine months ended September 30, 2015 and 2014, the Company recorded $ 673,000 1,103,000 For impaired loans whose impairment is measured based on the present value of expected future cash flows, a total of $ 235,000 305,000 Allowance for Loan Losses for the Three Months Ended September 30, 2015 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 887 $ 891 $ (859) $ 109 $ (750) $ 1,028 Commercial real estate 5,278 925 (128) 315 187 6,390 Residential real estate 9,686 (686) (193) 359 166 9,166 Commercial and financial 945 193 (160) 107 (53) 1,085 Consumer 1,783 (173) (22) 22 - 1,610 $ 18,579 $ 1,150 $ (1,362) $ 912 $ (450) $ 19,279 Allowance for Loan Losses for the Nine Months Ended September 30, 2015 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 722 $ 910 $ (925) $ 321 $ (604) $ 1,028 Commercial real estate 4,528 1,690 (430) 602 172 6,390 Residential real estate 9,784 (1,235) (515) 1,132 617 9,166 Commercial and financial 1,179 (245) (284) 435 151 1,085 Consumer 794 1,020 (276) 72 (204) 1,610 $ 17,007 $ 2,140 $ (2,430) $ 2,562 $ 132 $ 19,279 Activity in the allowance for loan losses for the three-month and nine-month periods ended September 30, 2014 is summarized as follows: Allowance for Loan Losses for the Three Months Ended September 30, 2014 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 867 $ (26) $ (68) $ 141 $ 73 $ 914 Commercial real estate 5,193 (1,913) (130) 1,341 1,211 4,491 Residential real estate 10,631 167 (359) 159 (200) 10,598 Commercial and financial 709 244 (229) 71 (158) 795 Consumer 740 103 (80) 10 (70) 773 $ 18,140 $ (1,425) $ (866) $ 1,722 $ 856 $ 17,571 Allowance for Loan Losses for the Nine Months Ended September 30, 2014 Provision Net Beginning for Loan Charge- Charge- Ending (Dollars in thousands) Balance Losses Offs Recoveries Offs Balance Construction & land development $ 808 $ 178 $ (267) $ 195 $ (72) $ 914 Commercial real estate 6,160 (3,000) (264) 1,595 1,331 4,491 Residential real estate 11,659 (1,243) (566) 748 182 10,598 Commercial and financial 710 297 (337) 125 (212) 795 Consumer 731 164 (177) 55 (122) 773 $ 20,068 $ (3,604) $ (1,611) $ 2,718 $ 1,107 $ 17,571 At September 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 $ 1,524 $ 235 $ 94,050 $ 793 $ 95,574 $ 1,028 Commercial real estate 9,777 432 971,339 5,958 981,116 6,390 Residential real estate 22,701 2,335 699,224 6,831 721,925 9,166 Commercial and financial 18 0 209,185 1,085 209,203 1,159 Consumer 654 74 78,302 1,536 78,956 1,536 $ 34,674 $ 3,076 $ 2,052,100 $ 16,203 $ 2,086,774 $ 19,279 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 September 30, 2015 and December 31, 2014 included loans acquired from BANKshares on October 1, 2014 and Grand Bankshares on July 17, 2015 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 September 30, 2015. PCI Loans Individually Evaluated for Impairment September 30, 2015 December 31, 2014 Carrying Associated Carrying Associated (Dollars in thousands) Value Allowance Value Allowance Construction & land development $ 462 $ 49 $ 1,557 $ 43 Commercial real estate 10,071 0 4,092 3 Residential real estate 1,008 0 851 18 Commercial and financial 1,132 0 1,312 0 Consumer 0 0 2 0 $ 12,673 $ 49 $ 7,814 $ 64 |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 9 Months Ended |
Sep. 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 September 30, December 31, 2015 2014 Mortgage backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities $ 148,607 $ 153,640 |
EQUITY CAPITAL
EQUITY CAPITAL | 9 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE H EQUITY CAPITAL The Company is well capitalized and at September 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 | 9 Months Ended |
Sep. 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 | 9 Months Ended |
Sep. 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 September 30, 2015: Available for sale securities (1) $ 728,161 $ 3,929 $ 724,232 $ 0 Loans held for sale (2) 16,738 0 16,738 0 Loans (3) 8,226 0 6,206 2,020 Other real estate owned (4) 7,433 0 1,091 6,342 At December 31, 2014: Available for sale securities (1) $ 741,375 $ 3,899 $ 737,476 $ 0 Loans held for sale (2) 12,078 0 12,078 0 Loans (3) 10,409 0 8,324 2,085 Other real estate owned (4) 7,462 0 1,468 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 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 September 30, 2015 the range of capitalization rates utilized to determine fair value of the underlying collateral averaged approximately 8.0 8.2 2.4 10.4 2.4 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. For OREO carried at fair value, the valuation allowance totaled $ 0.8 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 nine months ended September 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 $ 1.0 0.3 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 nine months of 2015, foreclosed loans transferred in totaled $ 3.1 2.7 2.6 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 September 30, 2015: Financial Assets Securities held to maturity (1) $ 209,047 $ 0 $ 212,362 $ 0 Loans, net 2,071,893 0 0 2,085,632 Financial Liabilities Deposit liabilities 2,742,296 0 0 2,742,915 Borrowings 50,000 0 52,387 0 Subordinated debt 69,891 0 59,169 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 September 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 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 : These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with Company’s policy on loans held for investment. None of the loans are 90 days or more past due or on nonaccrual as of September 30, 2015 and December 31, 2014. Fair values are based upon estimated values to be received from independent third party purchasers. September 30, December 31, (Dollars in thousands) 2015 2014 Aggregate fair value $ 16,738 $ 12,078 Contractual balance 16,310 11,769 Gains (losses) 428 309 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. |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | NOTE K BUSINESS COMBINATIONS Acquisition of Grand Bankshares, Inc. On July 17, 2015, the Company completed its previously announced acquisition of Grand Bankshares, 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 is expected to positively affect the Company’s operating results to the extent the Company earns more from interest earning assets than it pays in interest on its interest bearing liabilities. Merger related charges summed to $ 2.7 The Company acquired 100 1.48 1,000 0.3114 1.09 15.75 18.7 July 17, 2015 Grand preferred B shares exchanged for cash $ 1,481,000 Number of Grand common shares outstanding 3,501,185 Per share exchange ratio 0.3114 Number of shares of common stock issued 1,090,269 Multiplied by common stock price per share on July 17, 2015 $ 15.75 Value of common stock issued 17,171,737 Total purchase price $ 18,652,737 Date of acquisition July 17, 2015 (in thousands) Assets: Cash and cash equivalents $ 34,408 Securities available for sale 46,366 Loans 109,988 Bank premises 4,191 Other real estate owned 2,424 Core deposit intangible 2,564 Goodwill 555 Other assets 14,163 Total assets acquired $ 214,659 Liabilities: Deposits $ 188,469 Repurchase agreements 1,658 Subordinated debt 5,151 Other liabilities 728 Total liabilities assumed $ 196,006 The acquisition is accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations July 17, 2015 (Dollars in thousands) Book Balance Fair Value Loans: Single family residential real estate $ 6,158 $ 6,379 Commercial real estate 82,782 79,887 Construction/development/land 979 913 Commercial loans 2,393 1,516 Consumer and other loans 14,575 13,692 Purchased credit-impaired 10,993 7,601 Total loans $ 117,880 $ 109,988 For the loans acquired we first, segregated all acquired loans with specifically identified credit deficiency factor(s). The factors we considered to identify loans as Purchase Credit Impaired (“PCI”) loans were all acquired loans that were nonaccrual, 60 days or more past due, designated as Trouble Debt Restructured (“TDR”), graded “special mention” or “substandard.” These loans were then evaluated to determine estimated fair values as of the acquisition date. As required by generally accepted accounting principles, we are accounting for these loans pursuant to ASC Topic 310-30. The table below summarizes total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and fair value of the loans as of July 17, 2015 for purchase credit impaired loans. (Dollars in thousands) July 17, 2015 Contractually required principal and interest $ 12,552 Non-accretable difference 4,249 Cash flows expected to be collected 8,303 Accretable yield 702 Total purchased credit-impaired loan acquired $ 7,601 Second, loans without specifically identified credit deficiency factors are referred to as Purchased Unimpaired Loans (“PULs”) for disclosure purposes. These loans were then evaluated to determine estimated fair values as of the acquisition date. Although no specific credit deficiencies were identifiable, we believe there is an element of risk as to whether all contractual cash flows will be eventually received. Factors that were considered included the economic environment both nationally and locally as well as the real estate market particularly in Florida. We have applied ASC Topic 310-20 accounting treatment to the PULs. The Company believes the deposits assumed from the acquisition have an intangible value. The Company applied 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, a third party analyzed the deposits based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships. The Company recognized goodwill on this acquisition which is nondeductible for tax purposes as this acquisition is a nontaxable transaction. The goodwill has been calculated based on the fair values of the assets acquired and liabilities assumed as of the acquisition date and, in some instances, based on use of third party experts for valuations. The acquisition of Grand constituted a business combination. Accordingly, the assets acquired and liabilities assumed are presented at their fair values. The determination of fair value requires management to make estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature and subject to change. These fair value estimates are considered preliminary and are subject to change for up to one year after closing date of the acquisition as additional information becomes available. Immaterial amounts of the intangible assets recognized are deductible for income tax purposes The operating results of the Company for the three months and nine months ended September 30, 2015 includes the operating results of the acquired assets and assumed liabilities since the date of acquisition of July 17, 2015. Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share amounts) 2015 2014 2015 2014 Net interest income $ 29,333 $ 19,358 $ 83,927 $ 55,734 Net income available to common shareholders 4,870 3,690 18,803 9,281 EPS - basic $ 0.14 $ 0.14 $ 0.55 $ 0.35 EPS - diluted $ 0.14 $ 0.14 $ 0.55 $ 0.34 Acquisition of BMO Harris Central Florida Offices, Deposits and Loans On October 14, 2015, the Company announced that Seacoast’s wholly-owned subsidiary, Seacoast National Bank, entered into a Branch Sale Agreement with BMO Harris Bank N.A. (“BMO”) pursuant to which it has agreed to purchase, subject to the terms of the Agreement, fourteen branches of BMO located in the Orlando Metropolitan Statistical Area (“MSA”). Seacoast National Bank will assume approximately $ 355 56 70 3.0 . Acquisition of Floridian Financial Group, Inc On November 3, 2015, the Company announced that it signed a definitive agreement to acquire Floridian Financial Group, Inc. (“Floridian”), the parent company of Floridian Bank. Upon completion of the merger, Seacoast expects that Floridian Bank will be merged into Seacoast National Bank. Floridian, headquartered in Lake Mary, Florida, currently operates 10 branches in Orlando and Daytona Beach and will add approximately $ 426 361 289 The transaction is expected to close in the first quarter of 2016, and is subject to approval by Floridian’s shareholders, receipt of regulatory approvals and other customary closing conditions. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Sep. 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 (L21
BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For each three month period ended September 30, 2015 and 2014, options to purchase 282,000 496,000 Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share data) 2015 2014 2015 2014 Basic: Net income available to common shareholders $ 4,441 $ 2,996 $ 16,105 $ 7,213 Average basic shares outstanding 33,907,178 25,887,591 33,286,933 25,736,140 Basic earnings per share $ 0.13 $ 0.12 $ 0.48 $ 0.28 Diluted: Net income available to common shareholders $ 4,441 $ 2,996 $ 16,105 $ 7,213 Average basic shares outstanding 33,907,178 25,887,591 33,286,933 25,736,140 Restricted stock awards 286,362 138,102 237,785 158,741 Average diluted shares outstanding 34,193,540 26,025,693 33,524,718 25,894,881 Diluted earnings per share $ 0.13 $ 0.12 $ 0.48 $ 0.28 |
SECURITIES (Tables)
SECURITIES (Tables) | 9 Months Ended |
Sep. 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 September 30, 2015 and December 31, 2014 are summarized as follows: September 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 $ 3,832 $ 97 $ 0 $ 3,929 Mortgage-backed securities of U.S. Government Sponsored Entities 117,458 1,281 (247) 118,492 Collateralized mortgage obligations of U.S. Government Sponsored Entities 257,486 1,158 (2,737) 255,907 Private mortgage backed securities 32,494 17 (295) 32,216 Private collateralized mortgage obligations 82,183 782 (777) 82,188 Collateralized loan obligations 124,464 37 (1,054) 123,447 Obligations of state and political subdivisions 32,277 818 (58) 33,037 Corporate and other debt securities 40,015 94 (191) 39,918 Private commercial mortgage backed securities 39,256 54 (283) 39,027 $ 729,465 $ 4,338 $ (5,642) $ 728,161 SECURITIES HELD FOR INVESTMENT Mortgage-backed securities of U.S. Government Sponsored Entities $ 65,787 $ 2,126 $ 0 $ 67,913 Collateralized mortgage obligations of U.S. Government Sponsored Entities 93,646 1,652 (27) 95,271 Collateralized loan obligations 41,300 111 (465) 40,946 Private collateralized mortgage obligations 8,314 0 (82) 8,232 $ 209,047 $ 3,889 $ (574) $ 212,362 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 September 30, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to 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 $ 225 $ 225 Due after one year through five years 0 0 42,560 42,307 Due after five years through ten years 41,300 40,946 106,746 106,247 Due after ten years 0 0 11,042 11,634 41,300 40,946 160,573 160,413 Mortgage-backed securities of U.S. Government Sponsored Entities 65,787 67,913 117,458 118,492 Collateralized mortgage obligations of U.S. Government Sponsored Entities 93,646 95,271 257,486 255,907 Private mortgage backed securities 0 0 32,494 32,216 Private collateralized mortgage obligations 8,314 8,232 82,183 82,188 Corporate and other debt securities 0 0 40,015 39,918 Private commercial mortgage backed securities 0 0 39,256 39,027 $ 209,047 $ 212,362 $ 729,465 $ 728,161 |
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 September 30, 2015 and December 31, 2014, respectively. September 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 securities of U.S. Government Sponsored Entities $ 26,443 $ (127) $ 12,366 $ (120) $ 38,809 $ (247) Collateralized mortgage obligations of U.S. Government Sponsored Entities 43,963 (136) 146,322 (2,628) 190,285 (2,764) Private mortage backed securities 16,724 (295) 3,287 0 20,011 (295) Private collateralized mortgage obligations 20,939 (323) 33,203 (536) 54,142 (859) Collateralized loan obligations 87,328 (828) 47,245 (691) 134,573 (1,519) Obligations of state and political subdivisions 10,716 (58) 0 0 10,716 (58) Corporate and other debt securities 22,455 (191) 0 0 22,455 (191) Private commercial mortgage backed securities 31,578 (283) 0 0 31,578 (283) Total temporarily impaired securities $ 260,146 $ (2,241) $ 242,423 $ (3,975) $ 502,569 $ (6,216) 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) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2015 Portfolio Loans PCI Loans PUL's Total (Dollars in thousands) Construction and land development $ 80,406 $ 462 $ 15,168 $ 96,036 Commercial real estate 737,506 10,071 243,610 991,187 Residential real estate 671,530 1,008 50,395 722,933 Commercial and financial 166,059 1,132 43,144 210,335 Consumer 75,050 0 3,422 78,472 Other loans 484 0 0 484 NET LOAN BALANCES (1) $ 1,731,035 $ 12,673 $ 355,739 $ 2,099,447 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) $ 1,488,005 $ 7,814 $ 326,066 $ 1,821,885 (1) Net loan balances as of September 30, 2015 and December 31, 2014 are net of deferred costs of $ 6.6 3.6 |
Contractually Required Principal And Interest Cash Payments Changes [Table Text Block] | The table below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of PCI loans during the three and nine month periods ending September 30, 2015. Contractually required principal and interest payments have been adjusted for estimated prepayments. Three Months Ended September 30, 2015 Reclassifications from nonaccretable September 30, June 30, 2015 Additions Deletions Accretion difference 2015 (In thousands) Contractually required principal and interest $ 11,564 $ 12,552 $ (609) $ 0 $ 0 $ 23,507 Nonaccretable difference (3,901) (4,249) (1,656) 0 152 (9,654) Cash flows expected to be collected 7,663 8,303 (2,265) 0 152 13,853 Accretable yield (1,101) (702) 610 165 (152) (1,180) Carrying value of acquired loans 6,562 $ 7,601 $ (1,655) $ 165 $ 0 12,673 Allowance for loan losses (212) (49) Carrying value less allowance for loan losses $ 6,350 $ 12,624 Nine Months Ended September 30, 2015 Reclassifications from December 31, nonaccretable September 30, 2014 Additions Deletions Accretion difference 2015 (In thousands) Contractually required principal and interest $ 14,831 $ 12,552 $ (3,876) $ 0 $ 0 $ 23,507 Nonaccretable difference (5,825) (4,249) 7 0 413 (9,654) Cash flows expected to be collected 9,006 8,303 (3,869) 0 413 13,853 Accretable yield (1,192) (702) 758 369 (413) (1,180) Carrying value of acquired loans 7,814 $ 7,601 $ (3,111) $ 369 $ 0 12,673 Allowance for loan losses (64) (49) Carrying value less allowance for loan losses $ 7,750 $ 12,624 |
Past Due Financing Receivables [Table Text Block] | The following tables present the contractual delinquency of the recorded investment in past due loans by class of loans as of September 30, 2015 and December 31, 2014: Accruing Accruing Accruing Greater Total September 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 $ 16 $ 0 $ 0 $ 809 $ 79,581 $ 80,406 Commercial real estate 165 0 0 2,557 734,784 737,506 Residential real estate 466 753 0 10,498 659,813 671,530 Commerical and financial 0 5 0 0 166,054 166,059 Consumer 0 0 0 267 74,783 75,050 Other 0 0 0 0 484 484 Total 647 758 0 14,131 1,715,499 $ 1,731,035 Purchased Unimpaired Loans Construction and land development 0 0 0 42 15,126 $ 15,168 Commercial real estate 522 0 0 1,716 241,372 243,610 Residential real estate 57 0 50 0 50,288 50,395 Commerical and financial 244 133 0 0 42,767 43,144 Consumer 0 0 0 0 3,422 3,422 Other 0 0 0 0 0 0 Total 823 133 50 1,758 352,975 $ 355,739 Purchased Credit Impaired Loans Construction and land development 0 0 0 343 119 $ 462 Commercial real estate 0 0 0 529 9,542 10,071 Residential real estate 0 0 0 349 659 1,008 Commerical and financial 0 0 0 0 1,132 1,132 Consumer 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 0 0 0 1,221 11,452 $ 12,673 Total Loans $ 1,470 $ 891 $ 50 $ 17,110 $ 2,079,926 $ 2,099,447 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 September 30, 2015 and December 31, 2014: September 30, 2015 Construction Commercial & Land Commercial Residential and Consumer (Dollars in thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 88,273 $ 958,777 $ 695,872 $ 209,087 $ 77,407 $ 2,029,416 Special mention 3,486 12,377 1,484 498 840 18,685 Substandard 2,368 8,011 2,527 732 55 13,693 Doubtful 0 0 0 0 0 0 Nonaccrual 1,194 4,802 10,847 0 267 17,110 Pass-Troubled debt restructures 347 5,948 24 18 387 6,724 Troubled debt restructures 368 1,272 12,179 0 0 13,819 $ 96,036 $ 991,187 $ 722,933 $ 210,335 $ 78,956 $ 2,099,447 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 24
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table presents loans that were modified within the nine months ending September 30, 2015: Nine months ended September 30, 2015 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 3 1,881 1,787 0 94 Consumer 1 48 45 0 3 5 $ 1,955 $ 1,857 $ 0 $ 98 The following table presents loans that were modified within the nine months ending September 30, 2014: Nine months ended September 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 5 $ 669 $ 621 $ 0 $ 48 Commercial real estate 1 4,300 3,975 0 325 6 $ 4,969 $ 4,596 $ 0 $ 373 |
Impaired Financing Receivables [Table Text Block] | As of September 30, 2015 and December 31, 2014, the Company’s recorded investment in impaired loans and the related valuation allowance were as follows: September 30, 2015 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 123 $ 375 $ 0 Commercial real estate 2,545 4,015 0 Residential real estate 8,571 12,846 0 Commercial and financial 18 18 0 Consumer 143 207 0 Impaired Loans with an Allowance Recorded: Construction and land development 1,401 1,439 235 Commercial real estate 7,232 7,305 432 Residential real estate 14,130 14,568 2,335 Commercial and financial 0 0 0 Consumer 511 527 74 Total: Construction and land development 1,524 1,814 235 Commercial real estate 9,777 11,320 432 Residential real estate 22,701 27,414 2,335 Commercial and financial 18 18 0 Consumer 654 734 74 $ 34,674 $ 41,300 $ 3,076 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 September 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 September 30, 2015 September 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 $ 1,216 $ 2 $ 2,088 $ 29 Commercial real estate 3,138 7 3,067 3 Residential real estate 9,700 35 10,066 98 Commercial and financial 83 0 150 2 Consumer 152 0 276 1 Impaired Loans with an Allowance Recorded: Construction & land development 1,070 23 1,110 6 Commercial real estate 6,638 78 11,801 124 Residential real estate 14,762 89 20,125 121 Commercial and financial 0 0 9 0 Consumer 490 7 546 8 Total: Construction & land development 2,286 25 3,198 35 Commercial real estate 9,776 85 14,868 127 Residential real estate 24,462 124 30,191 219 Commercial and financial 83 0 159 2 Consumer 642 7 822 9 $ 37,249 $ 241 $ 49,238 $ 392 For the nine months ended September 30, 2015 and 2014, the Company’s average recorded investments in impaired loans and related interest income were as follows: Nine Months Ended Nine Months Ended September 30, 2015 September 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 $ 1,632 $ 7 $ 2,160 $ 80 Commercial real estate 3,012 13 2,618 10 Residential real estate 10,745 103 11,578 114 Commercial and financial 106 1 101 7 Consumer 126 0 322 1 Impaired Loans with an Allowance Recorded: Construction & land development 912 39 1,244 18 Commercial real estate 7,312 223 10,502 485 Residential real estate 15,658 270 21,518 370 Commercial and financial 0 0 61 0 Consumer 507 17 543 18 Total: Construction & land development 2,544 46 3,404 98 Commercial real estate 10,324 236 13,120 495 Residential real estate 26,403 373 33,096 484 Commercial and financial 106 1 162 7 Consumer 633 17 865 19 $ 40,010 $ 673 $ 50,647 $ 1,103 |
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 nine-month periods ended September 30, 2015 is summarized as follows: Allowance for Loan Losses for the Three Months Ended September 30, 2015 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 887 $ 891 $ (859) $ 109 $ (750) $ 1,028 Commercial real estate 5,278 925 (128) 315 187 6,390 Residential real estate 9,686 (686) (193) 359 166 9,166 Commercial and financial 945 193 (160) 107 (53) 1,085 Consumer 1,783 (173) (22) 22 - 1,610 $ 18,579 $ 1,150 $ (1,362) $ 912 $ (450) $ 19,279 Allowance for Loan Losses for the Nine Months Ended September 30, 2015 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 722 $ 910 $ (925) $ 321 $ (604) $ 1,028 Commercial real estate 4,528 1,690 (430) 602 172 6,390 Residential real estate 9,784 (1,235) (515) 1,132 617 9,166 Commercial and financial 1,179 (245) (284) 435 151 1,085 Consumer 794 1,020 (276) 72 (204) 1,610 $ 17,007 $ 2,140 $ (2,430) $ 2,562 $ 132 $ 19,279 Activity in the allowance for loan losses for the three-month and nine-month periods ended September 30, 2014 is summarized as follows: Allowance for Loan Losses for the Three Months Ended September 30, 2014 Provision Net Beginning for Loan Charge- (Charge-Offs) Ending (Dollars in thousands) Balance Losses Offs Recoveries Recoveries Balance Construction & land development $ 867 $ (26) $ (68) $ 141 $ 73 $ 914 Commercial real estate 5,193 (1,913) (130) 1,341 1,211 4,491 Residential real estate 10,631 167 (359) 159 (200) 10,598 Commercial and financial 709 244 (229) 71 (158) 795 Consumer 740 103 (80) 10 (70) 773 $ 18,140 $ (1,425) $ (866) $ 1,722 $ 856 $ 17,571 Allowance for Loan Losses for the Nine Months Ended September 30, 2014 Provision Net Beginning for Loan Charge- Charge- Ending (Dollars in thousands) Balance Losses Offs Recoveries Offs Balance Construction & land development $ 808 $ 178 $ (267) $ 195 $ (72) $ 914 Commercial real estate 6,160 (3,000) (264) 1,595 1,331 4,491 Residential real estate 11,659 (1,243) (566) 748 182 10,598 Commercial and financial 710 297 (337) 125 (212) 795 Consumer 731 164 (177) 55 (122) 773 $ 20,068 $ (3,604) $ (1,611) $ 2,718 $ 1,107 $ 17,571 |
Loan Portfolio And Related Allowance [Table Text Block] | The Company’s loan portfolio (excluding PCI loans) and related allowance at September 30, 2015 and December 31, 2014 is shown in the following tables: At September 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 $ 1,524 $ 235 $ 94,050 $ 793 $ 95,574 $ 1,028 Commercial real estate 9,777 432 971,339 5,958 981,116 6,390 Residential real estate 22,701 2,335 699,224 6,831 721,925 9,166 Commercial and financial 18 0 209,185 1,085 209,203 1,159 Consumer 654 74 78,302 1,536 78,956 1,536 $ 34,674 $ 3,076 $ 2,052,100 $ 16,203 $ 2,086,774 $ 19,279 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 September 30, 2015 and December 31, 2014: PCI Loans Individually Evaluated for Impairment September 30, 2015 December 31, 2014 Carrying Associated Carrying Associated (Dollars in thousands) Value Allowance Value Allowance Construction & land development $ 462 $ 49 $ 1,557 $ 43 Commercial real estate 10,071 0 4,092 3 Residential real estate 1,008 0 851 18 Commercial and financial 1,132 0 1,312 0 Consumer 0 0 2 0 $ 12,673 $ 49 $ 7,814 $ 64 |
SECURITIES SOLD UNDER AGREEME25
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Brokers and Dealers [Abstract] | |
Schedule of Securities Financing Transactions [Table Text Block] | At September 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 September 30, December 31, 2015 2014 Mortgage backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities $ 148,607 $ 153,640 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | 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 September 30, 2015: Available for sale securities (1) $ 728,161 $ 3,929 $ 724,232 $ 0 Loans held for sale (2) 16,738 0 16,738 0 Loans (3) 8,226 0 6,206 2,020 Other real estate owned (4) 7,433 0 1,091 6,342 At December 31, 2014: Available for sale securities (1) $ 741,375 $ 3,899 $ 737,476 $ 0 Loans held for sale (2) 12,078 0 12,078 0 Loans (3) 10,409 0 8,324 2,085 Other real estate owned (4) 7,462 0 1,468 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 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 September 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 September 30, 2015: Financial Assets Securities held to maturity (1) $ 209,047 $ 0 $ 212,362 $ 0 Loans, net 2,071,893 0 0 2,085,632 Financial Liabilities Deposit liabilities 2,742,296 0 0 2,742,915 Borrowings 50,000 0 52,387 0 Subordinated debt 69,891 0 59,169 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. |
Schedule of contractual balance and gains or losses aggregate fair value [Table Text Block] | At September 30, 2015 and December 31, 2014, the aggregate fair value, contractual balance (including accrued interest) and gains or losses was as follows: September 30, December 31, (Dollars in thousands) 2015 2014 Aggregate fair value $ 16,738 $ 12,078 Contractual balance 16,310 11,769 Gains (losses) 428 309 |
BUSINESS COMBINATIONS (Tables)
BUSINESS COMBINATIONS (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Business Acquisition [Line Items] | |
Schedule Of Business Combinations Purchase Price Allocation [Table Text Block] | July 17, 2015 Grand preferred B shares exchanged for cash $ 1,481,000 Number of Grand common shares outstanding 3,501,185 Per share exchange ratio 0.3114 Number of shares of common stock issued 1,090,269 Multiplied by common stock price per share on July 17, 2015 $ 15.75 Value of common stock issued 17,171,737 Total purchase price $ 18,652,737 |
Business Combination Recognized Identifiable Assets Acquired Good will And Liabilities Assumed Less Non controlling Interest [Table Text Block] | The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition. The fair values listed are preliminary and are subject to adjustment. While they are not expected to be materially different than those shown, any adjustments to the estimates will be reflected retroactively as of the date of acquisition. Date of acquisition July 17, 2015 (in thousands) Assets: Cash and cash equivalents $ 34,408 Securities available for sale 46,366 Loans 109,988 Bank premises 4,191 Other real estate owned 2,424 Core deposit intangible 2,564 Goodwill 555 Other assets 14,163 Total assets acquired $ 214,659 Liabilities: Deposits $ 188,469 Repurchase agreements 1,658 Subordinated debt 5,151 Other liabilities 728 Total liabilities assumed $ 196,006 |
Schedule of acquired loans [Table Text Block] | The table below presents information with respect to the fair value of acquired loans, as well as their unpaid principal balance (“Book Balance”) at acquisition date. July 17, 2015 (Dollars in thousands) Book Balance Fair Value Loans: Single family residential real estate $ 6,158 $ 6,379 Commercial real estate 82,782 79,887 Construction/development/land 979 913 Commercial loans 2,393 1,516 Consumer and other loans 14,575 13,692 Purchased credit-impaired 10,993 7,601 Total loans $ 117,880 $ 109,988 |
Shedule of Contractually required principal and interest payments [Table Text Block] | Contractually required principal and interest payments have been adjusted for estimated prepayments. (Dollars in thousands) July 17, 2015 Contractually required principal and interest $ 12,552 Non-accretable difference 4,249 Cash flows expected to be collected 8,303 Accretable yield 702 Total purchased credit-impaired loan acquired $ 7,601 |
Business Acquisition, Pro Forma Information [Table Text Block] | Pro-forma data for the nine months ending September 30, 2015 and 2014 listed in the table below presents pro-forma information as if the acquisition occurred at the beginning of 2014. Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share amounts) 2015 2014 2015 2014 Net interest income $ 29,333 $ 19,358 $ 83,927 $ 55,734 Net income available to common shareholders 4,870 3,690 18,803 9,281 EPS - basic $ 0.14 $ 0.14 $ 0.55 $ 0.35 EPS - diluted $ 0.14 $ 0.14 $ 0.55 $ 0.34 |
BASIC AND DILUTED EARNINGS (L28
BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE - Additional Information (Details) - shares | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 282,000 | 496,000 |
BASIC AND DILUTED EARNINGS (L29
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 | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic: | ||||
Net income available to common shareholders | $ 4,441 | $ 2,996 | $ 16,105 | $ 7,213 |
Average basic shares outstanding | 33,907,178 | 25,887,591 | 33,286,933 | 25,736,140 |
Basic earnings per share | $ 0.13 | $ 0.12 | $ 0.48 | $ 0.28 |
Diluted: | ||||
Net income available to common shareholders | $ 4,441 | $ 2,996 | $ 16,105 | $ 7,213 |
Average basic shares outstanding | 33,907,178 | 25,887,591 | 33,286,933 | 25,736,140 |
Restricted stock awards | 286,362 | 138,102 | 237,785 | 158,741 |
Average diluted shares outstanding | 34,193,540 | 26,025,693 | 33,524,718 | 25,894,881 |
Diluted earnings per share | $ 0.13 | $ 0.12 | $ 0.48 | $ 0.28 |
SECURITIES - Additional Informa
SECURITIES - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
May. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||||||
Proceeds from Sale of Available-for-sale Securities, Debt | $ 60,314,000 | $ 16,444,000 | ||||
Available-for-sale Securities, Gross Realized Gains | 632,000 | 361,000 | ||||
Available-for-sale Securities, Gross Realized Losses | $ 472,000 | |||||
Collateral Underlying Mortgage Investments Terms | 30- and 15-year fixed and 10/1 adjustable rate mortgage | |||||
Cost Method Investments, Fair Value Disclosure | $ 0 | $ 0 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 502,569,000 | 502,569,000 | $ 527,682,000 | |||
Accumulated unrealized losses | (6,216,000) | (6,216,000) | (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 | $ 0 | 0 | $ (3,137,000) | |
Trading Securities, Unrealized Holding Loss | 2,400,000 | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 260,146,000 | 260,146,000 | 301,040,000 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2,241,000 | 2,241,000 | 3,672,000 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 242,423,000 | 242,423,000 | 0 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3,975,000 | 3,975,000 | 0 | |||
Available-for-sale Securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 10,300,000 | 10,300,000 | 11,600,000 | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 27,000 | 27,000 | $ 159,000 | |||
Mortgage Backed Securities And Collateralized Mortgage Obligations Of Us Government Sponsored Entities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Securities pledged as collateral | 148,600,000 | 148,600,000 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 229,100,000 | 229,100,000 | ||||
Accumulated unrealized losses | 3,000,000 | 3,000,000 | ||||
Collateralized Mortgage Backed Securities [Member] | Carrying Amount [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Securities pledged as collateral | 125,000,000 | 125,000,000 | ||||
Collateralized Mortgage Backed Securities [Member] | Fair Value [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Securities pledged as collateral | 124,300,000 | 124,300,000 | ||||
Collateralized Loan Obligations [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 134,600,000 | 134,600,000 | ||||
Accumulated unrealized losses | 1,500,000 | 1,500,000 | ||||
Private Collateralized Securities [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 105,700,000 | 105,700,000 | ||||
Accumulated unrealized losses | $ 1,400,000 | $ 1,400,000 |
SECURITIES - Amortized Cost and
SECURITIES - Amortized Cost and Fair Value of Securities Available for Sale and Held for Investment (Details) - USD ($) $ in Thousands | Sep. 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 | $ 729,465 | $ 746,390 |
Gross Unrealized Gains, Available for Sale | 4,338 | 4,388 |
Gross Unrealized Losses, Available for Sale | (5,642) | (9,403) |
Fair Value, Available for Sale | 728,161 | 741,375 |
Gross Amortized Cost, Held for Investment Securities | 209,047 | 207,904 |
Gross Unrealized Gains, Held for Investment Securities | 3,889 | 1,507 |
Gross Unrealized Losses, Held for Investment Securities | (574) | (623) |
Fair Value Held To Maturity | 212,362 | 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 | 3,832 | 3,876 |
Gross Unrealized Gains, Available for Sale | 97 | 23 |
Gross Unrealized Losses, Available for Sale | 0 | 0 |
Fair Value, Available for Sale | 3,929 | 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 | 117,458 | 123,981 |
Gross Unrealized Gains, Available for Sale | 1,281 | 1,501 |
Gross Unrealized Losses, Available for Sale | (247) | (423) |
Fair Value, Available for Sale | 118,492 | 125,059 |
Gross Amortized Cost, Held for Investment Securities | 65,787 | 67,535 |
Gross Unrealized Gains, Held for Investment Securities | 2,126 | 812 |
Gross Unrealized Losses, Held for Investment Securities | 0 | 0 |
Fair Value Held To Maturity | 67,913 | 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 | 257,486 | 352,483 |
Gross Unrealized Gains, Available for Sale | 1,158 | 1,075 |
Gross Unrealized Losses, Available for Sale | (2,737) | (6,077) |
Fair Value, Available for Sale | 255,907 | 347,481 |
Gross Amortized Cost, Held for Investment Securities | 93,646 | 114,541 |
Gross Unrealized Gains, Held for Investment Securities | 1,652 | 695 |
Gross Unrealized Losses, Held for Investment Securities | (27) | (280) |
Fair Value Held To Maturity | 95,271 | 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 | 32,494 | 29,967 |
Gross Unrealized Gains, Available for Sale | 17 | 291 |
Gross Unrealized Losses, Available for Sale | (295) | 0 |
Fair Value, Available for Sale | 32,216 | 30,258 |
Fair Value Held To Maturity | 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 | 82,183 | 85,175 |
Gross Unrealized Gains, Available for Sale | 782 | 688 |
Gross Unrealized Losses, Available for Sale | (777) | (728) |
Fair Value, Available for Sale | 82,188 | 85,135 |
Gross Amortized Cost, Held for Investment Securities | 8,314 | |
Gross Unrealized Gains, Held for Investment Securities | 0 | |
Gross Unrealized Losses, Held for Investment Securities | (82) | |
Fair Value Held To Maturity | 8,232 | |
Collateralized loan obligations [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 124,464 | 127,397 |
Gross Unrealized Gains, Available for Sale | 37 | 0 |
Gross Unrealized Losses, Available for Sale | (1,054) | (2,172) |
Fair Value, Available for Sale | 123,447 | 125,225 |
Gross Amortized Cost, Held for Investment Securities | 41,300 | 25,828 |
Gross Unrealized Gains, Held for Investment Securities | 111 | 0 |
Gross Unrealized Losses, Held for Investment Securities | (465) | (343) |
Fair Value Held To Maturity | 40,946 | 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 | 32,277 | 23,511 |
Gross Unrealized Gains, Available for Sale | 818 | 810 |
Gross Unrealized Losses, Available for Sale | (58) | (3) |
Fair Value, Available for Sale | 33,037 | $ 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 | 40,015 | |
Gross Unrealized Gains, Available for Sale | 94 | |
Gross Unrealized Losses, Available for Sale | (191) | |
Fair Value, Available for Sale | 39,918 | |
Fair Value Held To Maturity | 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 | 39,256 | |
Gross Unrealized Gains, Available for Sale | 54 | |
Gross Unrealized Losses, Available for Sale | (283) | |
Fair Value, Available for Sale | 39,027 | |
Fair Value Held To Maturity | $ 0 |
SECURITIES - Amortized Cost a32
SECURITIES - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | $ 209,047 | $ 207,904 |
Held for Investment, Fair Value, Total | 212,362 | 208,788 |
Available for Sale, Amortized Cost, Total | 729,465 | |
Available for Sale, Fair Value, Total | 728,161 | 741,375 |
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 | 225 | |
Available for Sale, Fair Value, Due in less than one year | 225 | |
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 | 42,560 | |
Available for Sale, Fair Value, Due after one year through five years | 42,307 | |
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 | 40,946 | |
Available for Sale, Amortized Cost, Due after five years through ten years | 106,746 | |
Available for Sale, Fair Value, Due after five years through ten years | 106,247 | |
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 | 11,042 | |
Available for Sale, Fair Value, Due after ten years | 11,634 | |
Held for Investment, Amortized Cost, Total | 41,300 | |
Held for Investment, Fair Value, Total | 40,946 | |
Available for Sale, Amortized Cost, Total | 160,573 | |
Available for Sale, Fair Value, Total | 160,413 | |
Mortgage-backed Securities, US Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 65,787 | |
Held for Investment, Fair Value, Total | 67,913 | 68,347 |
Available for Sale, Amortized Cost, Total | 117,458 | |
Available for Sale, Fair Value, Total | 118,492 | 125,059 |
Collateralized Mortgage Obligations Of US Government Sponsored Entities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 93,646 | |
Held for Investment, Fair Value, Total | 95,271 | 114,956 |
Available for Sale, Amortized Cost, Total | 257,486 | |
Available for Sale, Fair Value, Total | 255,907 | 347,481 |
Private mortgage backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 0 | |
Held for Investment, Fair Value, Total | 0 | |
Available for Sale, Amortized Cost, Total | 32,494 | |
Available for Sale, Fair Value, Total | 32,216 | 30,258 |
Private collateralized mortgage obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 8,314 | |
Held for Investment, Fair Value, Total | 8,232 | |
Available for Sale, Amortized Cost, Total | 82,183 | |
Available for Sale, Fair Value, Total | 82,188 | $ 85,135 |
Corporate and other debt securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 0 | |
Held for Investment, Fair Value, Total | 0 | |
Available for Sale, Amortized Cost, Total | 40,015 | |
Available for Sale, Fair Value, Total | 39,918 | |
Private commercial mortgage backed securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 0 | |
Held for Investment, Fair Value, Total | 0 | |
Available for Sale, Amortized Cost, Total | 39,256 | |
Available for Sale, Fair Value, Total | $ 39,027 |
SECURITIES - Schedule of Unreal
SECURITIES - Schedule of Unrealized Loss and Fair Value on Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value | ||
Less than 12 months | $ 260,146 | $ 301,040 |
12 months or longer | 242,423 | 0 |
Total | 502,569 | 527,682 |
Unrealized Losses | ||
Less than 12 months | (2,241) | (3,672) |
12 months or longer | (3,975) | 0 |
Total | (6,216) | (10,026) |
Collateralized Loan Obligations [Member] | ||
Fair Value | ||
Less than 12 months | 87,328 | 100,714 |
12 months or longer | 47,245 | 24,511 |
Total | 134,573 | 125,225 |
Unrealized Losses | ||
Less than 12 months | (828) | (1,769) |
12 months or longer | (691) | (403) |
Total | (1,519) | (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 | 26,443 | 36,890 |
12 months or longer | 12,366 | 21,640 |
Total | 38,809 | 58,530 |
Unrealized Losses | ||
Less than 12 months | (127) | (153) |
12 months or longer | (120) | (271) |
Total | (247) | (424) |
Collateralized Mortgage Obligations Of US Government Sponsored Entities [Member] | ||
Fair Value | ||
Less than 12 months | 43,963 | 100,148 |
12 months or longer | 146,322 | 170,400 |
Total | 190,285 | 270,548 |
Unrealized Losses | ||
Less than 12 months | (136) | (833) |
12 months or longer | (2,628) | (5,523) |
Total | (2,764) | (6,356) |
Private mortage backed securities [Member] | ||
Fair Value | ||
Less than 12 months | 16,724 | |
12 months or longer | 3,287 | |
Total | 20,011 | |
Unrealized Losses | ||
Less than 12 months | (295) | |
12 months or longer | 0 | |
Total | (295) | |
Private collaterlized mortgage obligations [Member] | ||
Fair Value | ||
Less than 12 months | 20,939 | 61,554 |
12 months or longer | 33,203 | 10,091 |
Total | 54,142 | 71,645 |
Unrealized Losses | ||
Less than 12 months | (323) | (914) |
12 months or longer | (536) | (157) |
Total | (859) | (1,071) |
Obligations of state and political subdivisions [Member] | ||
Fair Value | ||
Less than 12 months | 10,716 | 1,734 |
12 months or longer | 0 | 0 |
Total | 10,716 | 1,734 |
Unrealized Losses | ||
Less than 12 months | (58) | (3) |
12 months or longer | 0 | 0 |
Total | (58) | $ (3) |
Corporate and other debt securities [member] | ||
Fair Value | ||
Less than 12 months | 22,455 | |
12 months or longer | 0 | |
Total | 22,455 | |
Unrealized Losses | ||
Less than 12 months | (191) | |
12 months or longer | 0 | |
Total | (191) | |
Private commercial mortgage backed securities [Member] | ||
Fair Value | ||
Less than 12 months | 31,578 | |
12 months or longer | 0 | |
Total | 31,578 | |
Unrealized Losses | ||
Less than 12 months | (283) | |
12 months or longer | 0 | |
Total | $ (283) |
LOANS - Additional Information
LOANS - Additional Information (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
PCI Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Deferred Costs, Noncurrent | $ 6.6 | $ 3.6 |
LOANS - Information Relating to
LOANS - Information Relating to Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | [1] | $ 2,099,447 | $ 1,821,885 |
Construction and land development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 96,036 | 87,036 | |
Commercial real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 991,187 | 837,147 | |
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 722,933 | 686,897 | |
Other loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 484 | 512 | |
Commercial and financial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 210,335 | 157,396 | |
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 78,472 | 52,897 | |
Portfolio Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | [1] | 1,731,035 | 1,488,005 |
Portfolio Loans [Member] | Construction and land development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 80,406 | 65,896 | |
Portfolio Loans [Member] | Commercial real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 737,506 | 610,863 | |
Portfolio Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 671,530 | 639,428 | |
Portfolio Loans [Member] | Other loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 484 | 512 | |
Portfolio Loans [Member] | Commercial and financial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 166,059 | 120,763 | |
Portfolio Loans [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 75,050 | 50,543 | |
PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | [1] | 12,673 | 7,814 |
PCI Loans [Member] | Construction and land development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 462 | 1,557 | |
PCI Loans [Member] | Commercial real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 10,071 | 4,092 | |
PCI Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 1,008 | 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 | 1,132 | 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 | [1] | 355,739 | 326,066 |
PULs [Member] | Construction and land development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 15,168 | 19,583 | |
PULs [Member] | Commercial real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 243,610 | 222,192 | |
PULs [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 50,395 | 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 | 43,144 | 35,321 | |
PULs [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | $ 3,422 | $ 2,352 | |
[1] | Net loan balances as of September 30, 2015 and December 31, 2014 are net of deferred costs of $6.6 million and $3.6 million for each period, respectively. |
LOANS - Summarizes Changes in T
LOANS - Summarizes Changes in Total Contractually Required Principal and Interest Cash Payments (Details) - Purchased Credit Impaired Loan [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2015 | Sep. 30, 2015 | |
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 | $ 6,350 | $ 7,750 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 12,624 | 12,624 |
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 | 11,564 | 14,831 |
Additions | 12,552 | 12,552 |
Deletions | (609) | (3,876) |
Accretion | 0 | 0 |
Reclassifications from nonaccretable difference | 0 | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 23,507 | 23,507 |
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 | (3,901) | (5,825) |
Additions | (4,249) | (4,249) |
Deletions | (1,656) | 7 |
Accretion | 0 | 0 |
Reclassifications from nonaccretable difference | 152 | 413 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | (9,654) | (9,654) |
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 | 7,663 | 9,006 |
Additions | 8,303 | 8,303 |
Deletions | (2,265) | (3,869) |
Accretion | 0 | 0 |
Reclassifications from nonaccretable difference | 152 | 413 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 13,853 | 13,853 |
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 | (1,101) | (1,192) |
Additions | (702) | (702) |
Deletions | 610 | 758 |
Accretion | 165 | 369 |
Reclassifications from nonaccretable difference | (152) | (413) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | (1,180) | (1,180) |
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 | 6,562 | 7,814 |
Additions | 7,601 | 7,601 |
Deletions | (1,655) | (3,111) |
Accretion | 165 | 369 |
Reclassifications from nonaccretable difference | 0 | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 12,673 | 12,673 |
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 | (212) | (64) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ (49) | $ (49) |
LOANS - Contractual Aging of Re
LOANS - Contractual Aging of Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 17,110 | $ 21,140 |
Current | 2,079,926 | 1,794,667 |
Total Financing Receivables | 2,099,447 | 1,821,885 |
Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,470 | 5,322 |
Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 891 | 543 |
Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 50 | 213 |
Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 14,131 | 18,563 |
Current | 1,715,499 | 1,467,730 |
Total Financing Receivables | 1,731,035 | 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 | 647 | 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 | 758 | 184 |
Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 17 |
Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,758 | 5 |
Current | 352,975 | 322,265 |
Total Financing Receivables | 355,739 | 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 | 823 | 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 | 133 | 0 |
Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 50 | 80 |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,221 | 2,572 |
Current | 11,452 | 4,672 |
Total Financing Receivables | 12,673 | 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 | 166,054 | 120,531 |
Total Financing Receivables | 166,059 | 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 | 0 | 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 | 5 | 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 | 42,767 | 34,368 |
Total Financing Receivables | 43,144 | 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 | 244 | 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 | 133 | 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 | 1,132 | 1,312 |
Total Financing Receivables | 1,132 | 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 | 267 | 191 |
Current | 74,783 | 50,071 |
Total Financing Receivables | 75,050 | 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 | 0 | 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 | 3,422 | 2,352 |
Total Financing Receivables | 3,422 | 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 | 2,557 | 3,457 |
Current | 734,784 | 606,642 |
Total Financing Receivables | 737,506 | 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 | 165 | 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 | 0 | 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 | 1,716 | 0 |
Current | 241,372 | 219,833 |
Total Financing Receivables | 243,610 | 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 | 522 | 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 | 529 | 733 |
Current | 9,542 | 2,993 |
Total Financing Receivables | 10,071 | 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 | 809 | 534 |
Current | 79,581 | 65,362 |
Total Financing Receivables | 80,406 | 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 | 16 | 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 | 0 | 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 | 0 | 0 |
Construction and land development [Member] | Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 42 | 0 |
Current | 15,126 | 19,280 |
Total Financing Receivables | 15,168 | 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 | 343 | 1,428 |
Current | 119 | 129 |
Total Financing Receivables | 462 | 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 | 722,933 | 686,897 |
Residential real estate [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 10,498 | 14,381 |
Current | 659,813 | 624,612 |
Total Financing Receivables | 671,530 | 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 | 466 | 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 | 753 | 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 | 50,288 | 46,432 |
Total Financing Receivables | 50,395 | 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 | 57 | 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 | 50 | 39 |
Residential real estate [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 349 | 411 |
Current | 659 | 236 |
Total Financing Receivables | 1,008 | 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 | 484 | 512 |
Total Financing Receivables | 484 | 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 | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 2,099,447 | $ 1,821,885 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 96,036 | 87,036 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 991,187 | 837,147 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 722,933 | 686,897 |
Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 210,335 | 157,396 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 78,956 | 53,409 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,029,416 | 1,739,894 |
Pass [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 88,273 | 79,397 |
Pass [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 958,777 | 797,934 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 695,872 | 655,518 |
Pass [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 209,087 | 155,281 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 77,407 | 51,764 |
Special mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 18,685 | 15,653 |
Special mention [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,486 | 1,815 |
Special mention [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 12,377 | 11,709 |
Special mention [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,484 | 546 |
Special mention [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 498 | 993 |
Special mention [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 840 | 590 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,693 | 20,201 |
Substandard [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,368 | 1,685 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,011 | 15,325 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,527 | 1,733 |
Substandard [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 732 | 1,002 |
Substandard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 55 | 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 | 17,110 | 21,140 |
Nonaccrual [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,194 | 1,963 |
Nonaccrual [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,802 | 4,189 |
Nonaccrual [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 10,847 | 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 | 267 | 191 |
Pass-Troubled debt restructures [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 6,724 | 4,021 |
Pass-Troubled debt restructures [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 347 | 1,672 |
Pass-Troubled debt restructures [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,948 | 2,332 |
Pass-Troubled debt restructures [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 24 | 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 | 387 | 0 |
Troubled debt restructures [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 13,819 | 20,976 |
Troubled debt restructures [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 368 | 504 |
Troubled debt restructures [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,272 | 5,658 |
Troubled debt restructures [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 12,179 | 14,286 |
Troubled debt restructures [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 120 |
Troubled debt restructures [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 0 | $ 408 |
IMPAIRED LOANS AND ALLOWANCE 39
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Additional Information (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)Number | Sep. 30, 2014USD ($)Number | Dec. 31, 2014USD ($) | |
Financing Receivable, Modifications [Line Items] | |||||
Newly identified TDRs | $ 2,200,000 | $ 5,400,000 | |||
Troubled Debt Restructuring Outstanding | $ 20,500,000 | 20,500,000 | $ 25,000,000 | ||
Loans and Leases Receivable, Impaired, Troubled Debt, Interest Income | 673,000 | 1,103,000 | |||
Loans and Leases Receivable, Impaired, Interest Income Recognized, Change in Present Value Attributable to Passage of Time | 235,000 | 305,000 | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 1,000,000 | $ 0 | 1,955,000 | 4,969,000 | |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 900,000 | $ 0 | $ 1,857,000 | $ 4,596,000 | |
Financing Receivable, Modifications, Number of Contracts | 1 | 2 | 5 | 6 | |
Loans [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Newly identified TDRs | $ 0 |
IMPAIRED LOANS AND ALLOWANCE 40
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Modified Loans (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015USD ($) | Sep. 30, 2014USD ($) | Sep. 30, 2015USD ($)Number | Sep. 30, 2014USD ($)Number | |
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | 1 | 2 | 5 | 6 |
Pre-Modification Outstanding Recorded Investment | $ 1,000,000 | $ 0 | $ 1,955,000 | $ 4,969,000 |
Post-Modification Outstanding Recorded Investment | $ 900,000 | $ 0 | 1,857,000 | 4,596,000 |
Specific Reserve Recorded | 0 | 0 | ||
Valuation Allowance Recorded | $ 98,000 | $ 373,000 | ||
Residential Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Number | 1 | 5 | ||
Pre-Modification Outstanding Recorded Investment | $ 26,000 | $ 669,000 | ||
Post-Modification Outstanding Recorded Investment | 25,000 | 621,000 | ||
Specific Reserve Recorded | 0 | 0 | ||
Valuation Allowance Recorded | $ 1,000 | $ 48,000 | ||
Commercial Real Estate [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Number | 3 | 1 | ||
Pre-Modification Outstanding Recorded Investment | $ 1,881,000 | $ 4,300,000 | ||
Post-Modification Outstanding Recorded Investment | 1,787,000 | 3,975,000 | ||
Specific Reserve Recorded | 0 | 0 | ||
Valuation Allowance Recorded | $ 94,000 | $ 325,000 | ||
Consumer [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Number | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 48,000 | |||
Post-Modification Outstanding Recorded Investment | 45,000 | |||
Specific Reserve Recorded | 0 | |||
Valuation Allowance Recorded | $ 3,000 |
IMPAIRED LOANS AND ALLOWANCE 41
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Company's Recorded Investments in Impaired Loans and the Related Valuation Allowances (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Recorded Investment | ||
Total | $ 34,674 | $ 43,577 |
Unpaid Principal Balance | ||
Total | 41,300 | 51,269 |
Related Valuation Allowance | ||
Total | 3,076 | 3,541 |
Construction Land Development [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 123 | 1,824 |
Impaired Loans with an Allowance Recorded | 1,401 | 886 |
Total | 1,524 | 2,710 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 375 | 2,239 |
Impaired Loans with an Allowance Recorded | 1,439 | 931 |
Total | 1,814 | 3,170 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 235 | 159 |
Total | 235 | 159 |
Commercial Real Estate [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 2,545 | 3,087 |
Impaired Loans with an Allowance Recorded | 7,232 | 8,359 |
Total | 9,777 | 11,446 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 4,015 | 4,600 |
Impaired Loans with an Allowance Recorded | 7,305 | 8,469 |
Total | 11,320 | 13,069 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 432 | 529 |
Total | 432 | 529 |
Residential Real Estate [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 8,571 | 11,898 |
Impaired Loans with an Allowance Recorded | 14,130 | 16,804 |
Total | 22,701 | 28,702 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 12,846 | 16,562 |
Impaired Loans with an Allowance Recorded | 14,568 | 17,693 |
Total | 27,414 | 34,255 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 2,335 | 2,741 |
Total | 2,335 | 2,741 |
Commercial And Financial [Member] | ||
Recorded Investment | ||
Impaired Loans with No Related Allowance Recorded | 18 | 120 |
Impaired Loans with an Allowance Recorded | 0 | 0 |
Total | 18 | 120 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 18 | 120 |
Impaired Loans with an Allowance Recorded | 0 | 0 |
Total | 18 | 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 | 143 | 65 |
Impaired Loans with an Allowance Recorded | 511 | 534 |
Total | 654 | 599 |
Unpaid Principal Balance | ||
Impaired Loans with No Related Allowance Recorded | 207 | 93 |
Impaired Loans with an Allowance Recorded | 527 | 562 |
Total | 734 | 655 |
Related Valuation Allowance | ||
Impaired Loans with No Related Allowance Recorded | 0 | 0 |
Impaired Loans with an Allowance Recorded | 74 | 112 |
Total | $ 74 | $ 112 |
IMPAIRED LOANS AND ALLOWANCE 42
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 | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Average Recorded Investment | ||||
Total | $ 37,249 | $ 49,238 | $ 40,010 | $ 50,647 |
Interest Income Recognized | ||||
Total | 241 | 392 | 673 | 1,103 |
Commercial Real Estate [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 3,138 | 3,067 | 3,012 | 2,618 |
Impaired Loans with an Allowance Recorded | 6,638 | 11,801 | 7,312 | 10,502 |
Total | 9,776 | 14,868 | 10,324 | 13,120 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 7 | 3 | 13 | 10 |
Impaired Loans with an Allowance Recorded | 78 | 124 | 223 | 485 |
Total | 85 | 127 | 236 | 495 |
Residential Real Estate [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 9,700 | 10,066 | 10,745 | 11,578 |
Impaired Loans with an Allowance Recorded | 14,762 | 20,125 | 15,658 | 21,518 |
Total | 24,462 | 30,191 | 26,403 | 33,096 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 35 | 98 | 103 | 114 |
Impaired Loans with an Allowance Recorded | 89 | 121 | 270 | 370 |
Total | 124 | 219 | 373 | 484 |
Construction and Land Development [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 1,216 | 2,088 | 1,632 | 2,160 |
Impaired Loans with an Allowance Recorded | 1,070 | 1,110 | 912 | 1,244 |
Total | 2,286 | 3,198 | 2,544 | 3,404 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 2 | 29 | 7 | 80 |
Impaired Loans with an Allowance Recorded | 23 | 6 | 39 | 18 |
Total | 25 | 35 | 46 | 98 |
Commercial And Financial [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 83 | 150 | 106 | 101 |
Impaired Loans with an Allowance Recorded | 0 | 9 | 0 | 61 |
Total | 83 | 159 | 106 | 162 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 0 | 2 | 1 | 7 |
Impaired Loans with an Allowance Recorded | 0 | 0 | 0 | 0 |
Total | 0 | 2 | 1 | 7 |
Consumer [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 152 | 276 | 126 | 322 |
Impaired Loans with an Allowance Recorded | 490 | 546 | 507 | 543 |
Total | 642 | 822 | 633 | 865 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 0 | 1 | 0 | 1 |
Impaired Loans with an Allowance Recorded | 7 | 8 | 17 | 18 |
Total | $ 7 | $ 9 | $ 17 | $ 19 |
IMPAIRED LOANS AND ALLOWANCE 43
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Allowance for Loan Losses: | ||||
Beginning Balance | $ 18,579 | $ 18,140 | $ 17,071 | $ 20,068 |
Provision for Loan Losses | 987 | (1,425) | 2,275 | (3,604) |
Charge-Offs | (1,362) | (866) | (2,430) | (1,611) |
Recoveries | 912 | 1,722 | 2,562 | 2,718 |
Net (Charge-Offs) Recoveries | (450) | 856 | 132 | 1,107 |
Ending Balance | 19,328 | 17,571 | 19,328 | 17,571 |
Construction and Land Development [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 887 | 867 | 722 | 808 |
Provision for Loan Losses | 891 | (26) | 910 | 178 |
Charge-Offs | (859) | (68) | (925) | (267) |
Recoveries | 109 | 141 | 321 | 195 |
Net (Charge-Offs) Recoveries | (750) | 73 | (604) | (72) |
Ending Balance | 1,028 | 914 | 1,028 | 914 |
Commercial Real Estate [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 5,278 | 5,193 | 4,528 | 6,160 |
Provision for Loan Losses | 925 | (1,913) | 1,690 | (3,000) |
Charge-Offs | (128) | (130) | (430) | (264) |
Recoveries | 315 | 1,341 | 602 | 1,595 |
Net (Charge-Offs) Recoveries | 187 | 1,211 | 172 | 1,331 |
Ending Balance | 6,390 | 4,491 | 6,390 | 4,491 |
Residential Real Estate [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 9,686 | 10,631 | 9,784 | 11,659 |
Provision for Loan Losses | (686) | 167 | (1,235) | (1,243) |
Charge-Offs | (193) | (359) | (515) | (566) |
Recoveries | 359 | 159 | 1,132 | 748 |
Net (Charge-Offs) Recoveries | 166 | (200) | 617 | 182 |
Ending Balance | 9,166 | 10,598 | 9,166 | 10,598 |
Commercial And Financial [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 945 | 709 | 1,179 | 710 |
Provision for Loan Losses | 193 | 244 | (245) | 297 |
Charge-Offs | (160) | (229) | (284) | (337) |
Recoveries | 107 | 71 | 435 | 125 |
Net (Charge-Offs) Recoveries | (53) | (158) | 151 | (212) |
Ending Balance | 1,085 | 795 | 1,085 | 795 |
Consumer [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 1,783 | 740 | 794 | 731 |
Provision for Loan Losses | (173) | 103 | 1,020 | 164 |
Charge-Offs | (22) | (80) | (276) | (177) |
Recoveries | 22 | 10 | 72 | 55 |
Net (Charge-Offs) Recoveries | 0 | (70) | (204) | (122) |
Ending Balance | $ 1,610 | $ 773 | $ 1,610 | $ 773 |
IMPAIRED LOANS AND ALLOWANCE 44
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Loan Portfolio and Related Allowance (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Carrying Value | ||
Individually Evaluated for Impairment | $ 34,674 | $ 43,577 |
Collectively Evaluated for Impairment | 2,052,100 | 1,770,494 |
Total | 2,086,774 | 1,814,071 |
Associated Allowance | ||
Individually Evaluated for Impairment | 3,076 | 3,541 |
Collectively Evaluated for Impairment | 16,203 | 13,466 |
Total | 19,279 | 17,007 |
PCI Loans [Member] | ||
Carrying Value | ||
Total | 12,673 | 7,814 |
Associated Allowance | ||
Total | 49 | 64 |
Construction and Land Development [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 1,524 | 2,710 |
Collectively Evaluated for Impairment | 94,050 | 82,769 |
Total | 95,574 | 85,479 |
Associated Allowance | ||
Individually Evaluated for Impairment | 235 | 159 |
Collectively Evaluated for Impairment | 793 | 563 |
Total | 1,028 | 722 |
Construction and Land Development [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 462 | 1,557 |
Associated Allowance | ||
Individually Evaluated for Impairment | 49 | 43 |
Commercial Real Estate [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 9,777 | 11,446 |
Collectively Evaluated for Impairment | 971,339 | 821,609 |
Total | 981,116 | 833,055 |
Associated Allowance | ||
Individually Evaluated for Impairment | 432 | 529 |
Collectively Evaluated for Impairment | 5,958 | 3,999 |
Total | 6,390 | 4,528 |
Commercial Real Estate [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 10,071 | 4,092 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 3 |
Residential Real Estate [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 22,701 | 28,702 |
Collectively Evaluated for Impairment | 699,224 | 657,344 |
Total | 721,925 | 686,046 |
Associated Allowance | ||
Individually Evaluated for Impairment | 2,335 | 2,741 |
Collectively Evaluated for Impairment | 6,831 | 7,043 |
Total | 9,166 | 9,784 |
Residential Real Estate [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 1,008 | 851 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 18 |
Commercial And Financial [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 18 | 120 |
Collectively Evaluated for Impairment | 209,185 | 155,964 |
Total | 209,203 | 156,084 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Collectively Evaluated for Impairment | 1,085 | 1,179 |
Total | 1,159 | 1,179 |
Commercial And Financial [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 1,132 | 1,312 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Consumer [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 654 | 599 |
Collectively Evaluated for Impairment | 78,302 | 52,808 |
Total | 78,956 | 53,407 |
Associated Allowance | ||
Individually Evaluated for Impairment | 74 | 112 |
Collectively Evaluated for Impairment | 1,536 | 682 |
Total | 1,536 | 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 AGREEME45
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Schedule Of Securities Financing Transactions (Details) - USD ($) $ in Thousands | Sep. 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 | $ 148,607 | $ 153,640 |
EQUITY CAPITAL - Additional Inf
EQUITY CAPITAL - Additional Information (Details) | Sep. 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) - USD ($) $ in Thousands | 9 Months Ended | |||||
Sep. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | |
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 | 8.00% | |||||
Loans and Leases Receivable, Allowance | $ 19,328 | $ 18,579 | $ 17,071 | $ 17,571 | $ 18,140 | $ 20,068 |
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 | 1,000 | |||||
FairValue Measurement With Unobservable Inputs Reconciliation Liability Transfers Charge Offs | 300 | |||||
Other Real Estate Owned And Other Reductions | 800 | |||||
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 | 2,700 | |||||
Other Real Estate Revenue | 2,600 | |||||
Other real estate owned and other reductions classified as level three transfers in | 3,100 | |||||
Loans Receivable, Fair Value Disclosure | 8,200 | 10,400 | ||||
Loans and Leases Receivable, Allowance | 2,400 | 2,400 | ||||
Fair Value Of Other Real Estate Owned Allowance | $ 800 | $ 800 |
FAIR VALUE - Fair Value Measure
FAIR VALUE - Fair Value Measurements for Items Measured at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | $ 16,738 | $ 12,078 | |
Other real estate owned | 7,433 | 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] | 728,161 | 741,375 |
Loans held for sale | [2] | 16,738 | 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] | 3,929 | 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] | 724,232 | 737,476 |
Loans held for sale | [2] | 16,738 | 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] | 8,226 | 10,409 |
Other real estate owned | [4] | 7,433 | 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] | 6,206 | 8,324 |
Other real estate owned | [4] | 1,091 | 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] | 2,020 | 2,085 |
Other real estate owned | [4] | $ 6,342 | $ 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 | Sep. 30, 2015 | Dec. 31, 2014 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities held to maturity | $ 209,047 | $ 207,904 | ||
Loans, net | 2,080,119 | 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 | [1] | 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] | 212,362 | 208,788 | |
Loans, net | 0 | [1] | 0 | |
Deposit liabilities | 0 | 0 | ||
Borrowings | 52,387 | 53,584 | ||
Subordinated debt | 59,169 | 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 | 2,085,632 | [1] | 1,814,746 | |
Deposit liabilities | 2,742,915 | 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] | 209,047 | 207,904 | |
Loans, net | 2,071,893 | [1] | 1,794,405 | |
Deposit liabilities | 2,742,296 | 2,416,534 | ||
Borrowings | 50,000 | 50,000 | ||
Subordinated debt | $ 69,891 | $ 64,583 | ||
[1] | See Note D for further detail of fair value of individual investment categories. |
FAIR VALUE - fair value of cont
FAIR VALUE - fair value of contractual balance and gains or losses (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Aggregate fair value | $ 16,738 | $ 12,078 |
Contractual balance | 16,310 | 11,769 |
Gains (losses) | $ 428 | $ 309 |
BUSINESS COMBINATIONS - Additio
BUSINESS COMBINATIONS - Additional Information (Details) $ / shares in Units, shares in Thousands, $ in Thousands | Nov. 03, 2015USD ($) | Jul. 17, 2015USD ($)$ / sharesshares | Sep. 30, 2015USD ($) | Sep. 30, 2015USD ($) | Oct. 14, 2015USD ($) |
Business Acquisition [Line Items] | |||||
Payments to Acquire Businesses, Gross | $ 1,481 | ||||
The Bank shares Inc [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | 100.00% | |||
Business Acquisition Per Share Exchange Ratio | 0.3114 | ||||
Payments to Acquire Businesses, Gross | $ 1,481,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | $ 14,163 | ||||
Payments for Merger Related Costs | $ 2,700 | ||||
The Bank shares Inc [Member] | Common Stock [Member] | |||||
Business Acquisition [Line Items] | |||||
Stock Issued During Period, Shares, Acquisitions | shares | 1,090 | ||||
Shares Issued, Price Per Share | $ / shares | $ 15.75 | ||||
BMO Harris Central [Member] | Subsequent Event [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Noncurrent Liabilities Deposits | $ 355,000 | ||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Noncurrent Liabilities Deposits Checking Accounts Percentage | 56.00% | ||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Deposit Premium Percentage | 3.00% | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | $ 70,000 | ||||
Floridian Financial Group [Member] | Subsequent Event [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Noncurrent Liabilities Deposits | $ 361,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | $ 426,000 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Description | Under the terms of the definitive agreement, Floridian shareholders will have the right to receive, at their election, (i) the combination of $4.29 in cash and 0.5291 shares of Seacoast common stock, (ii) $12.25 in cash, or (iii) 0.8140 shares of Seacoast common stock, subject to a customary proration mechanism so that the aggregate consideration mix equals 35% cash and 65% Seacoast shares (based on Seacoasts ten-day average closing price of $15.05 per share as of October 29, 2015). | ||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Noncurrent Assets Loans | $ 289,000 | ||||
Series B Preferred Stock [Member] | The Bank shares Inc [Member] | |||||
Business Acquisition [Line Items] | |||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 1,000 | ||||
Payments to Acquire Businesses, Gross | $ 1,480 | ||||
Stock Issued During Period, Value, Acquisitions | $ 18,700 | ||||
Series A Preferred Stock [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Acquisition Per Share Exchange Ratio | 0.3114 |
BUSINESS COMBINATIONS - Purchas
BUSINESS COMBINATIONS - Purchase Price (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 9 Months Ended |
Jul. 17, 2015USD ($)$ / sharesshares | Sep. 30, 2015USD ($) | |
Business Acquisition [Line Items] | ||
Grand preferred B shares exchanged for cash | $ 1,481 | |
The Bank shares Inc [Member] | ||
Business Acquisition [Line Items] | ||
Grand preferred B shares exchanged for cash | $ 1,481,000 | |
Number of Grand common shares outstanding | shares | 3,501,185 | |
Per share exchange ratio | 0.3114 | |
Number of shares of common stock issued | shares | 1,090,269 | |
Multiplied by common stock price per share on July 17, 2015 | $ / shares | $ 15.75 | |
Value of common stock issued | $ 17,171,737 | |
Total purchase price | $ 18,652,737 |
BUSINESS COMBINATIONS - fair va
BUSINESS COMBINATIONS - fair value of the assets purchased, including goodwill, and liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jul. 17, 2015 | Dec. 31, 2014 |
Assets: | |||
Goodwill | $ 25,864 | $ 25,309 | |
The Bank shares Inc [Member] | |||
Assets: | |||
Cash and cash equivalents | $ 34,408 | ||
Securities available for sale | 46,366 | ||
Loans | 109,988 | ||
Bank premises | 4,191 | ||
Other real estate owned | 2,424 | ||
Core deposit intangible | 2,564 | ||
Goodwill | 555 | ||
Other assets | 14,163 | ||
Total assets acquired | 214,659 | ||
Liabilities: | |||
Deposits | 188,469 | ||
Repurchase agreements | 1,658 | ||
Subordinated debt | 5,151 | ||
Other liabilities | 728 | ||
Total liabilities assumed | $ 196,006 |
BUSINESS COMBINATIONS - fair 54
BUSINESS COMBINATIONS - fair value of acquired loans (Details) - The Bank shares Inc [Member] $ in Thousands | Jul. 17, 2015USD ($) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 117,880 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 109,988 |
Commercial Real Estate [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 82,782 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 79,887 |
Commercial Loan [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 2,393 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 1,516 |
Single Family Residential Real Estate [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 6,158 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 6,379 |
Construction Development Land [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 979 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 913 |
Consumer And Other Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 14,575 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 13,692 |
Purchased Credit Impaired [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 10,993 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 7,601 |
BUSINESS COMBINATIONS - purch55
BUSINESS COMBINATIONS - purchased credit impaired loans (Details) - The Bank shares Inc [Member] $ in Thousands | Jul. 17, 2015USD ($) |
Contractually required principal and interest | $ 12,552 |
Non-accretable difference | 4,249 |
Cash flows expected to be collected | 8,303 |
Accretable yield | 702 |
Total purchased credit-impaired loan acquired | 109,988 |
Purchased Credit Impaired [Member] | |
Total purchased credit-impaired loan acquired | $ 7,601 |
BUSINESS COMBINATIONS - Pro-for
BUSINESS COMBINATIONS - Pro-forma information (Details) - The Bank shares Inc [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Business Acquisition [Line Items] | ||||
Net interest income | $ 29,333 | $ 19,358 | $ 83,927 | $ 55,734 |
Net income available to common shareholders | $ 4,870 | $ 3,690 | $ 18,803 | $ 9,281 |
EPS - basic (in dollars per share) | $ 0.14 | $ 0.14 | $ 0.55 | $ 0.34 |
EPS - diluted (in dollars per share) | $ 0.14 | $ 0.14 | $ 0.55 | $ 0.35 |