Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2017shares | |
Document Information [Line Items] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q3 |
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 | 43,512,179 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
ASSETS | |||
Cash and due from banks | $ 114,621 | $ 82,520 | |
Interest bearing deposits with other banks | 10,657 | 27,124 | |
Total cash and cash equivalents | 125,278 | 109,644 | |
Time deposits with other banks | 14,591 | 0 | |
Securities: | |||
Available for sale (at fair value) | 996,799 | 950,503 | |
Held to maturity (fair value: $374,961 at September 30, 2017, and $369,881 at December 31, 2016) | 374,773 | 372,498 | |
Total Securities | 1,371,572 | 1,323,001 | |
Loans held for sale (at fair value) | 29,447 | 15,332 | |
Loans | [1] | 3,384,991 | 2,879,536 |
Less: Allowance for loan losses | (26,232) | (23,400) | |
NET LOANS | 3,358,759 | 2,856,136 | |
Bank premises and equipment, net | 57,092 | 58,684 | |
Other real estate owned | 7,142 | 9,949 | |
Goodwill | 101,747 | 64,649 | |
Other intangible assets, net | 16,102 | 14,572 | |
Bank owned life insurance | 118,762 | 84,580 | |
Net deferred income taxes | 43,951 | 60,818 | |
Other assets | 95,856 | 83,567 | |
TOTAL ASSETS | 5,340,299 | 4,680,932 | |
LIABILITIES | |||
Deposits | 4,112,600 | 3,523,245 | |
Federal funds purchased and securities sold under agreements to repurchase, maturing within 30 days | 142,153 | 204,202 | |
Federal Home Loan Bank (FHLB) borrowings | 389,000 | 415,000 | |
Subordinated debt | 70,451 | 70,241 | |
Other liabilities | 31,654 | 32,847 | |
TOTAL LIABILITIES | 4,745,858 | 4,245,535 | |
SHAREHOLDERS' EQUITY | |||
Common stock, par value $0.10 per share, authorized 60,000,000 shares, issued 43,601,722 and outstanding 43,512,179 shares at September 30, 2017 and issued 38,090,568 and outstanding 38,021,835 shares at December 31, 2016 | 4,351 | 3,802 | |
Other shareholders' equity | 590,090 | 431,595 | |
TOTAL SHAREHOLDERS' EQUITY | 594,441 | 435,397 | |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 5,340,299 | $ 4,680,932 | |
[1] | Net loan balances as of September 30, 2017 and December 31, 2016 include deferred costs of $12.1 million and $10.6 million respectively. |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Held for Investment, Fair Value, Total | $ 374,961 | $ 369,881 |
Common stock, par value | $ 0.10 | $ 0.10 |
Common stock, shares authorized | 60,000,000 | 60,000,000 |
Common stock, shares issued | 43,601,722 | 38,090,568 |
Common stock, shares outstanding | 43,512,179 | 38,021,835 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest and fees on loans | $ 40,403 | $ 31,932 | $ 110,503 | $ 87,210 |
Interest and dividends on securities | 9,012 | 7,253 | 25,971 | 20,002 |
Interest on interest bearing deposits and other investments | 664 | 429 | 1,778 | 1,152 |
TOTAL INTEREST INCOME | 50,079 | 39,614 | 138,252 | 108,364 |
Interest on deposits | 2,196 | 1,292 | 5,054 | 3,447 |
Interest on borrowed money | 2,134 | 874 | 5,128 | 2,754 |
TOTAL INTEREST EXPENSE | 4,330 | 2,166 | 10,182 | 6,201 |
NET INTEREST INCOME | 45,749 | 37,448 | 128,070 | 102,163 |
Provision for loan losses | 680 | 550 | 3,385 | 1,411 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 45,069 | 36,898 | 124,685 | 100,752 |
Noninterest income | ||||
Other income | 11,481 | 9,764 | 31,853 | 27,505 |
Securities gains (losses), net (includes net (losses) of $(2) and $(648) in other comprehensive income reclassifications for the three months ended September 30, 2017 and 2016, respectively, and net (losses) of $(25) and $(620) for the nine months ended September 30, 2017 and 2016, respectively) | (47) | 225 | (26) | 361 |
TOTAL NONINTEREST INCOME | 11,434 | 9,989 | 31,827 | 27,866 |
TOTAL NONINTEREST EXPENSES | 34,361 | 33,435 | 110,732 | 100,584 |
INCOME BEFORE INCOME TAXES | 22,142 | 13,452 | 45,780 | 28,034 |
Provision for income taxes (includes $(1) and $(250) in income tax benefit from reclassification items for the three months ended September 30, 2017 and 2016, respectively, and $(10) and $(239) in income tax benefit for the nine months ended September 30, 2017 and 2016, respectively). | 7,926 | 4,319 | 15,962 | 9,603 |
NET INCOME | $ 14,216 | $ 9,133 | $ 29,818 | $ 18,431 |
PER SHARE COMMON STOCK: | ||||
Net income diluted (in dollars per share) | $ 0.32 | $ 0.24 | $ 0.7 | $ 0.49 |
Net income basic (in dollars per share) | 0.33 | 0.24 | 0.72 | 0.5 |
Cash dividends declared (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Average shares outstanding - diluted (in shares) | 43,792,108 | 38,169,863 | 42,298,136 | 37,258,133 |
Average shares outstanding - basic (in shares) | 43,151,248 | 37,549,804 | 41,626,356 | 36,626,290 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Reclassification adjustment for securities gains (losses) included in net losses | $ (2) | $ (648) | $ (25) | $ (620) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | $ (1) | $ (250) | $ (10) | $ (239) |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
NET INCOME | $ 14,216 | $ 9,133 | $ 29,818 | $ 18,431 |
Other comprehensive income: | ||||
Unrealized gains (losses) on securities available for sale | 1,149 | (391) | 9,920 | 16,347 |
Amortization of unrealized losses on securities transferred to held to maturity, net | 122 | 122 | 365 | 365 |
Reclassification adjustment for losses (gains) included in net income | 47 | (225) | 26 | (361) |
Income tax effect on other comprehensive income | (503) | 195 | (3,964) | (6,307) |
COMPREHENSIVE INCOME | $ 15,031 | $ 8,834 | $ 36,165 | $ 28,475 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 29,818 | $ 18,431 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 3,961 | 3,774 |
Amortization of premiums and discounts on securities, net | 2,864 | 6,381 |
Other amortization and accretion, net | (346) | (1,862) |
Stock based compensation | 3,787 | 3,275 |
Origination of loans designated for sale | (164,878) | (132,482) |
Sale of loans designated for sale | 161,587 | 140,998 |
Provision for loan losses | 3,385 | 1,411 |
Deferred income taxes | 15,077 | 9,107 |
Losses (gains) on sale of securities | 26 | (361) |
Gain on sale of loans | (5,160) | (4,661) |
Losses (gains) on sale and write-downs of other real estate owned | (657) | 22 |
Losses on disposition of fixed assets | 1,973 | 2,440 |
Changes in operating assets and liabilities, net of effects from acquired companies: | ||
Net increase in other assets | (419) | (7,557) |
Net increase (decrease) in other liabilities | (2,575) | 3,494 |
Net cash provided by operating activities | 48,443 | 42,410 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Maturity and paydowns on securities available for sale | 176,978 | 94,135 |
Maturity and paydowns on securities held for investment | 64,984 | 29,582 |
Proceeds from sale of securities available for sale | 7,525 | 39,047 |
Purchases of securities available for sale | (223,805) | (159,576) |
Purchases of securities held for investment | (67,563) | (218,654) |
Maturity of time deposits with other banks | 2,682 | 0 |
Net new loans and principal repayments | (277,142) | (253,221) |
Proceeds from the sale of portfolio loans | 74,211 | 33,593 |
Purchases of loans held for investment | (55,352) | (61,584) |
Proceeds from the sale of other real estate owned | 5,123 | 4,987 |
Proceeds from sale of Federal Home Loan Bank (FHLB) and Federal Reserve Bank stock | 29,984 | 1,700 |
Purchase of FHLB and Federal Reserve Stock | (32,398) | (16,213) |
Purchase of VISA Class B stock | (6,180) | 0 |
Purchases of bank owned life insurance | (30,000) | 0 |
Net cash from bank acquisition | 30,225 | 235,546 |
Additions to bank premises and equipment | (4,247) | (5,100) |
Net cash used in investing activities | (304,975) | (275,758) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 304,005 | 14,568 |
Net decrease in federal funds purchased and repurchase agreements | (62,049) | (4,312) |
Net increase (decrease) in FHLB borrowings, maturing in 30 days or less | (26,000) | 305,000 |
Early redemption of FHLB borrowings | 0 | (50,000) |
Stock based employee benefit plans | 569 | (592) |
Issuance of common stock, net of related expense | 55,641 | 0 |
Dividends paid | 0 | 0 |
Net cash provided by financing activities | 272,166 | 264,664 |
Net increase in cash and cash equivalents | 15,634 | 31,316 |
Cash and cash equivalents at beginning of period | 109,644 | 136,067 |
Cash and cash equivalents at end of period | 125,278 | 167,383 |
Supplemental disclosure of non cash investing activities: | ||
Transfer from loans to other real estate owned | 448 | 2,996 |
Transfer from bank premises to other real estate owned | 1,212 | 7,708 |
Transfers from loans held for investment to loans held for sale | $ 5,664 | $ 0 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | 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 2017, are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 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, 2016. Use of Estimates The preparation of these condensed consolidated financial statements required the use of certain estimates by management in determining the Company’s assets, liabilities, revenues and expenses. Actual results could differ from those estimates. Specific areas, among others, requiring the application of management’s estimates include determination of the allowance for loan losses, the valuation of investment securities available for sale, fair value of impaired loans, contingent liabilities, fair value of other real estate owned, and the valuation of deferred tax assets. Actual results could differ from those estimates. |
RECENTLY ISSUED ACCOUNTING STAN
RECENTLY ISSUED ACCOUNTING STANDARDS, Not adopted as of September 30, 2017 | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENTLY ISSUED ACCOUNTING STANDARDS | NOTE B RECENTLY ISSUED ACCOUNTING STANDARDS, Not adopted as of September 30, 2017 The following provides a brief description of accounting standards that have been issued but are not yet adopted that could affect the Company's financial statements: In May 2017, the Financial Account Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-09, clarifying when changes to the terms of share-based awards, such as value, vesting conditions or classification of the awards, should be accounted for as modifications. All the disclosures about modifications that are currently required would need to be made, along with disclosure of any change (or no change) in compensation expense. This guidance is effective for annual and interim periods beginning after December 15, 2017. Early adoption is permitted. Adoption of this standard is being evaluated as to its effect on the Company’s operating results and financial condition. In March 2017, the FASB issued ASU 2017-08, requiring entities to amortize premiums on certain purchased callable debt securities to their earliest call date. The accounting for purchased callable debt securities held at a discount did not change. Amortizing the premium to the earliest call date generally aligns interest income recognition with the economics of instruments. This guidance requires a modified retrospective transition under which a cumulative adjustment will be made to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. This guidance is effective for fiscal years beginning after December 15, 2018. Adoption of this standard is being evaluated as to its effect on the Company’s operating results or financial condition. In January 2017, the FASB issued ASU 2017-04, eliminating Step 2 from the goodwill impairment test. Under the amendments to the guidance, an entity should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized, however, should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for annual periods or any interim goodwill impairment tests beginning after December 15, 2019 using a prospective transition method. Early adoption is permitted. Adoption of this standard is being evaluated as to its effect on the Company’s operating results or financial condition. In August and November 2016, the FASB issued final guidance via ASU 2016-15 and ASU 2016-18, which address classification of certain cash receipts and cash payments, including changes in restricted cash, in the statement of cash flows. The guidance may change how an entity classifies certain cash receipts and cash payments on its statement of cash flows, the purpose being to reduce diversity in practice. The Company is evaluating the impact of ASU 2016-15 and 2016-18 on the Company’s statement of cash flows which will generally be applied retrospectively for fiscal years beginning after December 15, 2017. In June 2016, the FASB issued ASU 2016-13 for “Measurement of Credit Losses on Financial Instruments” to replace the incurred loss impairment methodology with a current expected credit loss methodology for financial instruments measured at amortized cost and other commitments to extend credit. Expected credit losses reflect losses over the remaining contractual life of an asset, considering the effect of voluntary prepayments and considering available information about the collectability of cash flows, including information about past events, current conditions, and supportable forecasts. The resultant allowance for credit losses reflects the portion of the amortized cost basis that the entity does not expect to collect. Additional quantitative and qualitative disclosures are required upon adoption. The Company has established a transition oversight committee that is responsible for assessing expected loss estimation models, data requirements, and changes in processes that will be necessary to meet the requirements of this new accounting guidance. Adoption is required January 1, 2020, with early adoption permitted on January 1, 2019. In March 2016, under ASU 2016-04, “Liabilities Extinguishments of Liabilities, Breakage for Certain Prepaid Stored-Value Products” the FASB intends for entities to recognize liabilities for the sale of prepaid stored value products redeemable for goods, services, or cash. This guidance aligns recognition of breakage for these liabilities in a way consistent with how gift card breakage will be recognized. The Company does not expect adoption of this standard to affect the Company’s operating results or financial condition. Effective date for implementation of the guidance is for annual periods after December 15, 2018. In February 2016, the FASB amended existing guidance related to the recognition of lease assets and lease liabilities on the balance sheet and disclosures of key information about leasing arrangements, under ASU 2016-02. The guidance requires all parties to classify leases to determine how to recognize lease-related revenue and expense. The amendment requires lessees to put most leases on their balance sheet and record expenses to the income statement. Changes in the guidance eliminate real estate centric provisions for sale-leaseback transactions, including initial direct costs and lease execution costs for all entities. For lessors, the new FASB standard modifies classification criteria and accounting for sales type and direct financing leases. The Company is currently evaluating the impact of adopting the new guidance on its consolidated financial statements. The amended accounting guidance is applicable to periods after December 15, 2018 and interim periods within that year. In January 2016, the FASB issued ASU 2016-01 for “Recognition and Measurement of Financial Assets and Liabilities.” The ASU addresses certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The update: a) requires equity investments (except those accounted for under the equity method of accounting) to be measured at fair value and recognized in net income, b) simplifies impairment assessments of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, and if impaired requires measurement of the investment at fair value, c) eliminates the requirement to disclose the methods and significant assumptions used to estimate the fair value, d) requires entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, e) requires an entity to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, f) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements, and g) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. The Company is evaluating the use of the measurement alternative available for equity securities without a readily determinable fair value, and the related impact to accounting policies, presentation, and disclosures. The ASU is effective for fiscal years beginning after December 15, 2017, and must be adopted on a modified retrospective basis, including interim periods within those fiscal years. In May 2014, the FASB issued ASU 2014-09, “Revenue Recognition Revenue from Contracts with Customers.” 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 control 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. Revenue associated with loans and securities is not in the scope of the new guidance, and based on the Company’s evaluation to date we do not expect the adoption to have a significant impact on the Company’s operating results or financial condition. The Company continues to evaluate the changes in disclosures required by the new guidance. The Company plans to adopt the new guidance on January 1, 2018. |
BASIC AND DILUTED EARNINGS PER
BASIC AND DILUTED EARNINGS PER COMMON SHARE | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
BASIC AND DILUTED EARNINGS PER COMMON SHARE | NOTE C BASIC AND DILUTED EARNINGS PER COMMON SHARE 274,000 191,000 243,000 199,000 Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share data) 2017 2016 2017 2016 Basic: Income available to common shareholders $ 14,216 $ 9,133 $ 29,818 $ 18,431 Average basic shares outstanding 43,151,248 37,549,804 41,626,356 36,626,290 Basic earnings per share $ 0.33 $ 0.24 $ 0.72 $ 0.50 Diluted: Income available to common shareholders $ 14,216 $ 9,133 $ 29,818 $ 18,431 Average basic shares outstanding 43,151,248 37,549,804 41,626,356 36,626,290 Restricted stock and stock options 640,860 620,059 671,780 631,843 Average diluted shares outstanding 43,792,108 38,169,863 42,298,136 37,258,133 Diluted earnings per share $ 0.32 $ 0.24 $ 0.70 $ 0.49 The dilutive impact of restricted stock and stock options is calculated under the treasury method. |
SECURITIES
SECURITIES | 9 Months Ended |
Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
SECURITIES | NOTE D SECURITIES September 30, 2017 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 $ 9,830 $ 310 $ 0 $ 10,140 Mortgage backed securities of U.S. Government Sponsored Entities 284,015 1,245 (2,298) 282,962 Collateralized mortgage obligations of U.S. Government Sponsored Entities 232,278 525 (4,001) 228,802 Commercial mortgage backed securities of U.S. Government Sponsored Entities 22,274 355 (10) 22,619 Private mortgage backed securities 32,928 925 0 33,853 Private collateralized mortgage obligations 50,725 682 (302) 51,105 Collateralized loan obligations 207,341 794 (18) 208,117 Obligations of state and political subdivisions 59,495 1,065 (375) 60,185 Corporate and other debt securities 70,083 803 (89) 70,797 Private commercial mortgage backed securities 28,186 198 (165) 28,219 $ 997,155 $ 6,902 $ (7,258) $ 996,799 SECURITIES HELD TO MATURITY Mortgage backed securities of U.S. Government Sponsored Entities $ 179,437 $ 1,403 $ (996) $ 179,844 Collateralized mortgage obligations of U.S. Government Sponsored Entities 126,849 462 (1,506) 125,805 Commercial mortgage backed securities of U.S. Government Sponsored Entities 17,441 645 0 18,086 Collateralized loan obligations 45,438 228 0 45,666 Private collateralized mortgage obligations 5,608 8 (56) 5,560 $ 374,773 $ 2,746 $ (2,558) $ 374,961 December 31, 2016 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 $ 12,073 $ 255 $ 0 $ 12,328 Mortgage backed securities of U.S. Government Sponsored Entities 287,726 585 (4,823) 283,488 Collateralized mortgage obligations of U.S. Government Sponsored Entities 238,805 314 (5,065) 234,054 Commercial mortgage backed securities of U.S. Government Sponsored Entities 22,351 222 (28) 22,545 Private mortgage backed securities 32,780 0 (791) 31,989 Private collateralized mortgage obligations 67,542 563 (816) 67,289 Collateralized loan obligations 124,716 838 (665) 124,889 Obligations of state and political subdivisions 63,161 622 (895) 62,888 Corporate and other debt securities 74,121 257 (517) 73,861 Private commercial mortgage backed securities 37,534 111 (473) 37,172 $ 960,809 $ 3,767 $ (14,073) $ 950,503 SECURITIES HELD TO MATURITY Mortgage backed securities of U.S. Government Sponsored Entities $ 159,941 $ 704 $ (1,243) $ 159,402 Collateralized mortgage obligations of U.S. Government Sponsored Entities 147,208 386 (2,630) 144,964 Commercial mortgage backed securities of U.S. Government Sponsored Entities 17,375 233 (74) 17,534 Collateralized loan obligations 41,547 430 (314) 41,663 Private collateralized mortgage obligations 6,427 0 (109) 6,318 $ 372,498 $ 1,753 $ (4,370) $ 369,881 Proceeds from sales of securities during the three month period ended September 30, 2017 were $ 3.7 15,000 62,000 7.5 36,000 62,000 26.8 301,000 76,000 39.0 448,000 87,000 In 2014, approximately $ 158.8 3.1 1.5 Securities at September 30, 2017 with a fair value of $ 178.3 142.2 Held to Maturity Available for Sale Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value Due in less than one year $ 0 $ 0 $ 6,103 $ 6,108 Due after one year through five years 3,600 3,614 79,463 80,338 Due after five years through ten years 41,838 42,052 224,255 225,737 Due after ten years 0 0 26,525 26,635 45,438 45,666 336,346 338,818 Mortgage backed securities of U.S. Government Sponsored Entities 179,437 179,844 284,015 282,962 Collateralized mortgage obligations of U.S. Government Sponsored Entities 126,849 125,805 232,278 228,802 Commercial mortgage backed securities of U.S. Government Sponsored Entities 17,441 18,086 22,274 22,619 Private mortgage backed securities 0 0 32,928 33,853 Private collateralized mortgage obligations 5,608 5,560 50,725 51,105 Other debt securities 0 0 10,403 10,421 Private commercial mortgage backed securities 0 0 28,186 28,219 $ 374,773 $ 374,961 $ 997,155 $ 996,799 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 flow analyses, using observable market data where available. September 30, 2017 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 $ 152,796 $ (1,963) $ 109,433 $ (1,331) $ 262,229 $ (3,294) Collateralized mortgage obligations of U.S. Government Sponsored Entities 51,067 (365) 225,546 (5,142) 276,613 (5,507) Commercial mortgage-backed securities of U.S. Government Sponsored Entities 3,111 (10) 0 0 3,111 (10) Private mortgage backed securities 0 0 0 0 0 0 Private collateralized mortgage obligations 0 0 22,003 (358) 22,003 (358) Collateralized loan obligations 21,998 (18) 0 0 21,998 (18) Obligations of state and political subdivisions 11,556 (86) 5,639 (289) 17,195 (375) Corporate and other debt securities 998 0 8,301 (89) 9,299 (89) Private commercial mortgage backed securities 7,887 (95) 3,727 (70) 11,614 (165) Total temporarily impaired securities $ 249,413 $ (2,537) $ 374,649 $ (7,279) $ 624,062 $ (9,816) December 31, 2016 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 $ 327,759 $ (5,991) $ 5,387 $ (75) $ 333,146 $ (6,066) Collateralized mortgage obligations of U.S. Government Sponsored Entities 234,175 (5,599) 58,912 (2,096) 293,087 (7,695) Commercial mortgage backed securities of U.S. Government Sponsored Entities 7,934 (102) 0 0 7,934 (102) Private mortgage backed securities 0 0 36,848 (900) 36,848 (900) Private collateralized mortgage obligations 1,460 0 38,417 (816) 39,877 (816) Collateralized loan obligations 8,152 (41) 51,694 (938) 59,846 (979) Obligations of state and political subdivisions 39,321 (895) 0 0 39,321 (895) Corporate and other debt securities 33,008 (517) 0 0 33,008 (517) Private commercial mortgage backed securities 12,667 (306) 7,139 (167) 19,806 (473) Total temporarily impaired securities $ 664,476 $ (13,451) $ 198,397 $ (4,992) $ 862,873 $ (18,443) The two tables above include securities held to maturity that were transferred from available for sale into held to maturity during 2014. Those securities had unrealized losses of $ 3.1 1.5 6.6 22.8 additional 0.1 0.4 additional 0.2 At September 30, 2017, unrealized losses on mortgage backed securities, collateralized mortgage obligations and commercial mortgage backed securities of U.S. government sponsored entities having a fair value of $ 542.0 8.8 At September 30, 2017, private label securities secured by seasoned residential collateral with a fair value of $ 22.0 0.4 At September 30, 2017, remaining securities categories had unrealized losses of $ 0.6 60.1 As of September 30, 2017, 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, 2017. Included in other assets is $ 38.6 The Company also holds 211,330 1.6483 348,335 11,330 200,000 6.2 |
LOANS
LOANS | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
LOANS | NOTE E LOANS September 30, 2017 Portfolio Loans PCI Loans PUL's Total (In thousands) Construction and land development $ 200,860 $ 116 $ 44,175 $ 245,151 Commercial real estate 1,146,359 8,975 322,758 1,478,092 Residential real estate 832,656 528 107,985 941,169 Commercial and financial 476,511 824 58,122 535,457 Consumer 180,467 0 4,018 184,485 Other loans 637 0 0 637 NET LOAN BALANCES (1) $ 2,837,490 $ 10,443 $ 537,058 $ 3,384,991 December 31, 2016 Portfolio Loans PCI Loans PUL's Total (In thousands) Construction and land development $ 137,480 $ 114 $ 22,522 $ 160,116 Commercial real estate 1,041,915 11,257 304,420 1,357,592 Residential real estate 784,290 684 51,813 836,787 Commercial and financial 308,731 941 60,917 370,589 Consumer 152,927 0 1,018 153,945 Other loans 507 0 0 507 NET LOAN BALANCES (1) $ 2,425,850 $ 12,996 $ 440,690 $ 2,879,536 (1) Net loan balances as of September 30, 2017 and December 31, 2016 include deferred costs of $ 12.1 10.6 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 table below summarizes the changes in accretable yield for PCI loans during the three and nine month periods ended September 30, 2017 and 2016, respectively: Reclassifications from nonaccretable September 30, June 30, 2017 Additions Deletions Accretion difference 2017 (In thousands) Accretable yield $ 3,265 0 0 (357) 407 $ 3,315 Recorded investment of acquired loans $ 13,132 $ 10,443 Allowance for loan losses 0 0 Recorded investment less allowance for loan losses $ 13,132 $ 10,443 Activity during the nine months ended September 30, 2017: Reclassifications from December 31, nonaccretable September 30, 2016 Additions Deletions Accretion difference 2017 (In thousands) Accretable yield $ 3,807 0 (10) (1,173) 691 $ 3,315 Recorded investment of acquired loans $ 12,996 $ 10,443 Allowance for loan losses 0 0 Recorded investment less allowance for loan losses $ 12,996 $ 10,443 Activity during the three months ended September 30, 2016: Reclassifications from nonaccretable September 30, June 30, 2016 Additions Deletions Accretion difference 2016 (In thousands) Accretable yield $ 4,674 0 0 (492) 0 $ 4,182 Recorded investment of acquired loans $ 13,652 $ 13,057 Allowance for loan losses 0 Recorded investment less allowance for loan losses $ 13,652 $ 13,057 Activity during the nine months ended September 30, 2016: Reclassifications from December 31, nonaccretable September 30, 2015 Additions Deletions Accretion difference 2016 (In thousands) Accretable yield $ 2,610 2,094 (15) (1,499) 992 $ 4,182 Recorded investment of acquired loans $ 12,109 $ 13,057 Allowance for loan losses 0 0 Recorded investment less allowance for loan losses $ 12,109 $ 13,057 Accruing Accruing Accruing Greater Total September 30, 2017 30-59 Days 60-89 Days Than Financing (In thousands) Past Due Past Due 90 Days Nonaccrual Current Receivables Portfolio Loans Construction and land development $ 273 $ 0 $ 0 $ 364 $ 200,223 $ 200,860 Commercial real estate 646 0 0 1,870 1,143,843 1,146,359 Residential real estate 1,013 107 0 8,341 823,195 832,656 Commercial and financial 1,699 0 0 193 474,619 476,511 Consumer 396 16 0 109 179,946 180,467 Other 0 0 0 0 637 637 Total 4,027 123 0 10,877 2,822,463 2,837,490 Purchased Unimpaired Loans Construction and land development 35 0 0 72 44,068 44,175 Commercial real estate 860 0 0 732 321,166 322,758 Residential real estate 152 113 0 1,163 106,557 107,985 Commercial and financial 321 0 0 332 57,469 58,122 Consumer 0 0 0 0 4,018 4,018 Other 0 0 0 0 0 0 Total 1,368 113 0 2,299 533,278 537,058 Purchased Credit Impaired Loans Construction and land development 0 0 0 0 116 116 Commercial real estate 0 0 0 1,199 7,776 8,975 Residential real estate 0 0 0 0 528 528 Commercial and financial 0 0 0 0 824 824 Consumer 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 0 0 0 1,199 9,244 10,443 Total Loans $ 5,395 $ 236 $ 0 $ 14,375 $ 3,364,985 $ 3,384,991 Accruing Accruing Accruing Greater Total December 31, 2016 30-59 Days 60-89 Days Than Financing (In thousands) Past Due Past Due 90 Days Nonaccrual Current Receivables Portfolio Loans Construction and land development 0 0 0 438 137,042 137,480 Commercial real estate 78 171 0 1,784 1,039,882 1,041,915 Residential real estate 1,570 261 0 8,582 773,877 784,290 Commercial and financial 30 0 0 49 308,652 308,731 Consumer 29 59 0 170 152,669 152,927 Other 0 0 0 0 507 507 Total 1,707 491 0 11,023 2,412,629 2,425,850 Purchased Unimpaired Loans Construction and land development 0 0 0 32 22,490 22,522 Commercial real estate 345 485 0 1,272 302,318 304,420 Residential real estate 153 0 0 1,262 50,398 51,813 Commercial and financial 39 328 0 197 60,353 60,917 Consumer 37 0 0 0 981 1,018 Other 0 0 0 0 0 0 Total 574 813 0 2,763 436,540 440,690 Purchased Impaired Loans Construction and land development 0 0 0 0 114 114 Commercial real estate 0 0 0 4,285 6,972 11,257 Residential real estate 0 185 0 0 499 684 Commercial and financial 0 0 0 0 941 941 Consumer 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 0 185 0 4,285 8,526 12,996 Total Loans $ 2,281 $ 1,489 $ 0 $ 18,071 $ 2,857,695 $ 2,879,536 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. Loans that do not currently expose the Company to sufficient risk to warrant classification in the Substandard or Doubtful categories, but possess weaknesses that deserve management’s close attention are deemed to be Special Mention. 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 Substandard may require a specific allowance. 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 on loans classified as Doubtful is generally charged off. Risk ratings are updated any time the situation warrants. Loans that are not problem or potential problem loans are considered to be pass-rated loans and risk grades are recalculated at least annually by the loan relationship manager. The following tables present the risk category of loans by class of loans based on the most recent analysis performed as of September 30, 2017 and December 31, 2016: September 30, 2017 Construction Commercial & Land Commercial Residential and Consumer (In thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 232,183 $ 1,442,538 $ 917,500 $ 527,190 $ 183,031 $ 3,302,442 Special mention 8,844 11,534 1,317 3,414 1,462 26,571 Substandard 3,439 14,466 2,966 4,328 223 25,422 Doubtful 0 0 0 0 0 0 Nonaccrual 436 3,801 9,504 525 109 14,375 Pass-Troubled debt restructures 33 4,876 0 0 0 4,909 Troubled debt restructures 216 877 9,882 0 297 11,272 $ 245,151 $ 1,478,092 $ 941,169 $ 535,457 $ 185,122 $ 3,384,991 December 31, 2016 Construction Commercial & Land Commercial Residential and Consumer (In thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 148,563 $ 1,319,696 $ 811,576 $ 364,241 $ 153,730 $ 2,797,806 Special mention 5,037 17,184 1,780 3,949 67 28,017 Substandard 5,497 7,438 2,709 2,153 134 17,931 Doubtful 0 0 0 0 0 0 Nonaccrual 470 7,341 9,844 246 170 18,071 Pass-Troubled debt restructures 44 4,988 358 0 44 5,434 Troubled debt restructures 505 945 10,520 0 307 12,277 $ 160,116 $ 1,357,592 $ 836,787 $ 370,589 $ 154,452 $ 2,879,536 |
IMPAIRED LOANS AND ALLOWANCE FO
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES | 9 Months Ended |
Sep. 30, 2017 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Impaired Loans and Allowance for Loan Losses | NOTE F IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES The Company’s Troubled Debt Restructuring (“TDR”) concessions granted generally do not include forgiveness of principal balances , but may include interest rate reductions, an extension of the amortization period and/or converting the loan to interest only for a limited period of time Pre- Post- Modification Modification Number Outstanding Outstanding Valuation of Recorded Recorded Allowance (Dollars in thousands) Contracts Investment Investment Recorded Construction and land development 1 $ 52 $ 46 $ 6 Residential real estate 1 15 15 0 2 $ 67 $ 61 $ 6 The following table presents loans that were modified during the nine months ended September 30, 2016: Pre- Post- Modification Modification Number Outstanding Outstanding Valuation of Recorded Recorded Allowance (Dollars in thousands) Contracts Investment Investment Recorded Residential real estate 6 $ 1,660 $ 1,489 $ 171 6 $ 1,660 $ 1,489 $ 171 During the nine months ended September 30, 2017 and 2016, there were no payment defaults on loans that had been modified in a TDR within the previous twelve months. The Company considers a loan to have defaulted when it becomes 90 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 a specific allowance for loan loss is assigned in accordance with the Company’s policy. September 30, 2017 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 397 $ 702 $ 0 Commercial real estate 3,431 4,811 0 Residential real estate 10,598 15,283 0 Commercial and financial 29 39 0 Consumer 117 191 0 Impaired Loans with an Allowance Recorded: Construction and land development 289 355 91 Commercial real estate 4,931 4,939 222 Residential real estate 8,773 8,970 1,188 Commercial and financial 1,127 501 521 Consumer 290 292 48 Total: Construction and land development 686 1,057 91 Commercial real estate 8,362 9,750 222 Residential real estate 19,371 24,253 1,188 Commercial and financial 1,156 540 521 Consumer 407 483 48 $ 29,982 $ 36,083 $ 2,070 December 31, 2016 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 226 $ 321 $ 0 Commercial real estate 3,267 4,813 0 Residential real estate 9,706 14,136 0 Commercial and financial 199 206 0 Consumer 0 0 0 Impaired Loans with an Allowance Recorded: Construction and land development 51 51 0 Commercial real estate 6,937 6,949 395 Residential real estate 12,332 12,681 2,059 Commercial and financial 0 0 0 Consumer 0 0 0 Total: Construction and land development 277 372 0 Commercial real estate 10,204 11,762 395 Residential real estate 22,038 26,817 2,059 Commercial and financial 199 206 0 Consumer 0 0 0 $ 32,718 $ 39,157 $ 2,454 For the three months ended September 30, 2017 and 2016, the Company’s average recorded investments in impaired loans (excluding PCI loans) and related interest income were as follows: Three Months Ended Three Months Ended September 30, 2017 September 30, 2016 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 $ 517 $ 13 $ 208 $ 3 Commercial real estate 3,004 75 1,437 31 Residential real estate 10,266 150 9,346 138 Commercial and financial 244 1 16 0 Consumer 124 3 157 3 Impaired Loans with an Allowance Recorded: Construction & land development 333 2 609 7 Commercial real estate 4,953 56 6,565 64 Residential real estate 9,831 63 12,038 102 Commercial and financial 646 2 0 0 Consumer 333 3 383 4 Total: Construction & land development 850 15 817 10 Commercial real estate 7,957 131 8,002 95 Residential real estate 20,097 213 21,384 240 Commercial and financial 890 3 16 0 Consumer 457 6 540 7 $ 30,251 $ 368 $ 30,759 $ 352 Nine Months Ended Nine Months Ended September 30, 2017 September 30, 2016 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 $ 460 $ 35 $ 188 $ 11 Commercial real estate 2,833 154 1,854 97 Residential real estate 9,933 447 9,444 406 Commercial and financial 183 3 16 0 Consumer 111 10 193 10 Impaired Loans with an Allowance Recorded: Construction & land development 242 8 671 20 Commercial real estate 5,789 163 6,835 193 Residential real estate 11,029 260 12,098 322 Commercial and financial 378 14 0 0 Consumer 247 12 363 14 Total: Construction & land development 702 43 859 31 Commercial real estate 8,622 317 8,689 290 Residential real estate 20,962 707 21,542 728 Commercial and financial 561 17 16 0 Consumer 358 22 556 24 $ 31,205 $ 1,106 $ 31,662 $ 1,073 Impaired loans also include loans that have been modified in TDRs where concessions to borrowers who experienced financial difficulties have been granted. At September 30, 2017 and at December 31, 2016, accruing TDRs totaled $ 16.2 17.7 The impaired loans are measured for impairment based on the value of underlying collateral or the present value of expected future cash flows discounted at the loan’s effective rate. The valuation allowance is included in the allowance for loan losses. 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 impaired loans whose impairment is measured based on the present value of expected future cash flows, a total of $ 169,000 282,000 83,000 176,000 Nonaccrual loans and accruing loans past due 90 days or more (excluding purchased loans) totaled $ 10.9 0 11.0 0 3.5 0 7.0 0 Allowance for Loan Losses for the Three Months Ended September 30, 2017 Provision TDR Beginning for Loan Charge- Valuation Ending (Dollars in thousands) Balance Losses Offs Recoveries Adjustments Balance Construction & land development $ 1,574 $ (690) $ 0 $ 728 $ 0 $ 1,612 Commercial real estate 9,923 62 (239) 175 (15) 9,906 Residential real estate 7,423 116 (296) 39 (148) 7,134 Commercial and financial 5,460 834 (333) 28 0 5,989 Consumer 1,620 358 (442) 61 (6) 1,591 $ 26,000 $ 680 $ (1,310) $ 1,031 $ (169) $ 26,232 Allowance for Loan Losses for the Nine Months Ended September 30, 2017 Provision TDR Beginning for Loan Charge- Valuation Ending (Dollars in thousands) Balance Losses Offs Recoveries Adjustments Balance Construction & land development $ 1,219 $ (496) $ 0 $ 891 $ (2) $ 1,612 Commercial real estate 9,273 410 (341) 613 (49) 9,906 Residential real estate 7,483 90 (482) 266 (223) 7,134 Commercial and financial 3,636 3,036 (837) 154 0 5,989 Consumer 1,789 345 (756) 221 (8) 1,591 $ 23,400 $ 3,385 $ (2,416) $ 2,145 $ (282) $ 26,232 Allowance for Loan Losses for the Three Months Ended September 30, 2016 Provision TDR Beginning for Loan Charge- Valuation Ending (Dollars in thousands) Balance Losses Offs Recoveries Adjustments Balance Construction & land development $ 1,160 $ 50 $ 0 $ 25 $ (2) $ 1,233 Commercial real estate 7,192 1,505 (78) 169 (55) 8,733 Residential real estate 8,299 (637) 0 272 (25) 7,909 Commercial and financial 2,591 (633) (200) 1,278 0 3,036 Consumer 1,483 265 (18) 44 (1) 1,773 $ 20,725 $ 550 $ (296) $ 1,788 $ (83) $ 22,684 Allowance for Loan Losses for the Nine Months Ended September 30, 2016 Provision TDR Beginning for Loan Charge- Valuation Ending (Dollars in thousands) Balance Losses Offs Recoveries Adjustments Balance Construction & land development $ 1,151 $ (125) $ 0 $ 214 $ (7) $ 1,233 Commercial real estate 6,756 2,025 (209) 271 (110) 8,733 Residential real estate 8,057 (626) (135) 669 (56) 7,909 Commercial and financial 2,042 (524) (255) 1,773 0 3,036 Consumer 1,122 661 (98) 91 (3) 1,773 $ 19,128 $ 1,411 $ (697) $ 3,018 $ (176) $ 22,684 At September 30, 2017 Individually Evaluated for Collectively Evaluated for Impairment Impairment Total Recorded Associated Recorded Associated Recorded Associated (Dollars in thousands) Investment Allowance Investment Allowance Investment Allowance Construction & land development $ 686 $ 91 $ 244,349 $ 1,521 $ 245,035 $ 1,612 Commercial real estate 8,362 222 1,460,755 9,684 1,469,117 9,906 Residential real estate 19,371 1,188 921,270 5,946 940,641 7,134 Commercial and financial 1,156 521 533,477 5,468 534,633 5,989 Consumer 407 48 184,715 1,543 185,122 1,591 $ 29,982 $ 2,070 $ 3,344,566 $ 24,162 $ 3,374,548 $ 26,232 At December 31, 2016 Individually Evaluated for Collectively Evaluated for Impairment Impairment Total Recorded Associated Recorded Associated Recorded Associated (Dollars in thousands) Investment Allowance Investment Allowance Investment Allowance Construction & land development $ 277 $ 0 $ 159,839 $ 1,219 $ 160,116 $ 1,219 Commercial real estate 10,204 395 1,335,832 8,878 1,346,036 9,273 Residential real estate 22,038 2,059 814,250 5,424 836,288 7,483 Commercial and financial 199 0 369,449 3,636 369,648 3,636 Consumer 0 0 154,452 1,789 154,452 1,789 $ 32,718 $ 2,454 $ 2,833,822 $ 20,946 $ 2,866,540 $ 23,400 Loans collectively evaluated for impairment included loans acquired in connection with the acquisition of GulfShore Bancshares, Inc. (“GulfShore”) on April 7, 2017, Floridian Financial Group, Inc. (“Floridian”) on March 11, 2016, certain branches from BMO Harris Bank N.A. (“BMO”) on June 3, 2016, Grand Bankshares Inc., (“Grand”) on July 17, 2015, and BANKshares, Inc. on October 1, 2014, that are not PCI loans. At September 30, 2017, the remaining fair value adjustments for loans acquired was approximately $ 15.6 2.77 13.7 3.11 PCI Loans Individually Evaluated for Impairment September 30, 2017 December 31, 2016 Recorded Associated Recorded Associated (Dollars in thousands) Investment Allowance Investment Allowance Construction & land development $ 116 $ 0 $ 114 $ 0 Commercial real estate 8,975 0 11,257 0 Residential real estate 528 0 684 0 Commercial and financial 824 0 941 0 Consumer 0 0 0 0 $ 10,443 $ 0 $ 12,996 $ 0 |
SECURITIES SOLD UNDER AGREEMENT
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 9 Months Ended |
Sep. 30, 2017 | |
Brokers and Dealers [Abstract] | |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 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 is obligated to provide additional collateral in the event of a significant decline in fair value of collateral pledged. At September 30, 2017 and December 31, 2016, the fair value of Company securities pledged under agreements to repurchase were as follows by collateral type and maturity: Overnight and Continuous Maturity September 30, December 31, (Dollars in thousands) 2017 2016 Mortgage backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities $ 142,153 $ 204,202 |
NONINTEREST INCOME AND EXPENSES
NONINTEREST INCOME AND EXPENSES | 9 Months Ended |
Sep. 30, 2017 | |
Noninterest Income and Expenses [Abstract] | |
NONINTEREST INCOME AND EXPENSE | NOTE H NONINTEREST INCOME AND EXPENSES Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2017 2016 2017 2016 Noninterest income Service charges on deposits $ 2,626 $ 2,698 $ 7,483 $ 7,057 Trust income 967 820 2,764 2,464 Mortgage banking fees 2,138 1,885 4,962 4,248 Brokerage commissions and fees 351 463 1,079 1,564 Marine finance fees 137 138 597 558 Interchange income 2,582 2,306 7,747 6,893 Other deposit-based EFT fees 100 109 354 352 BOLI income 836 382 2,326 1,602 Other income 1,744 963 4,541 2,767 11,481 9,764 31,853 27,505 Securities gains (losses), net (47) 225 (26) 361 TOTAL $ 11,434 $ 9,989 $ 31,827 $ 27,866 Noninterest expense Salaries and wages $ 15,627 $ 14,337 $ 49,371 $ 41,620 Employee benefits 2,917 2,425 8,920 7,428 Outsourced data processing costs 3,231 3,198 9,956 10,440 Telephone/data lines 573 539 1,753 1,606 Occupancy 2,447 3,675 10,025 10,292 Furniture and equipment 1,191 1,228 4,261 3,509 Marketing 1,298 780 3,294 2,786 Legal and professional fees 2,560 2,213 7,968 7,226 FDIC assessments 548 517 1,768 1,704 Amortization of intangibles 839 728 2,397 1,767 Asset disposition expense 117 219 306 469 Net loss (gain) on other real estate owned and repossessed assets (414) (96) (599) (348) Early redemption cost for Federal Home Loan Bank borrowings 0 0 0 1,777 Other 3,427 3,672 11,312 10,308 TOTAL $ 34,361 $ 33,435 $ 110,732 $ 100,584 |
EQUITY CAPITAL
EQUITY CAPITAL | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
EQUITY CAPITAL | NOTE I EQUITY CAPITAL On February 21, 2017, the Company completed a public offering of 2,702,500 55.7 6,210,000 The Company is well capitalized and at September 30, 2017, the Company and the Company’s principal banking subsidiary, Seacoast National Bank, or “Seacoast Bank”, met the common equity Tier 1 capital ratio (CET1) regulatory threshold of 6.5 |
CONTINGENCIES
CONTINGENCIES | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
CONTINGENCIES | NOTE J CONTINGENCIES The Company and its subsidiaries, because of the nature of their businesses, are at all times subject to 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 material 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, 2017 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE | NOTE K 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, 2017: Available for sale securities (1) $ 996,799 $ 100 $ 996,699 $ 0 Loans held for sale (2) 29,447 0 29,447 0 Loans (3) 4,160 0 2,973 1,187 Other real estate owned (4) 7,142 0 0 7,142 At December 31, 2016: Available for sale securities (1) $ 950,503 $ 100 $ 950,403 $ 0 Loans held for sale (2) 15,332 0 15,332 0 Loans (3) 4,120 0 3,170 950 Other real estate owned (4) 9,949 0 0 9,949 (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, 2017, the capitalization rates utilized to determine fair value of the underlying collateral averaged approximately 7.7 4.2 1.4 million at September 30, 2017, compared to $ 4.1 0.4 Fair value of available for sale securities is 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. 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 quarter-end valuation process. During the nine months ended September 30, 2017 and 2016, there were no transfers between levels of the fair value hierarchy. For loans classified as level 3, additions totaled $ 0.8 0.6 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 2017, foreclosed loans added $ 0.4 1.2 4.4 4.2 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, 2017: Financial Assets Securities held to maturity (1) $ 374,773 $ 0 $ 374,961 $ 0 Time deposits with other banks 14,591 0 0 14,557 Loans, net 3,345,978 0 0 3,328,023 Financial Liabilities Deposit liabilities 4,112,600 0 0 4,110,324 Subordinated debt 70,451 0 55,072 0 At December 31, 2016: Financial Assets Securities held to maturity (1) $ 372,498 $ 0 $ 369,881 $ 0 Loans, net 2,852,016 0 0 2,840,993 Financial Liabilities Deposit liabilities 3,523,245 0 0 3,523,322 Subordinated debt 70,241 0 54,908 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 due from banks, interest bearing deposits with other banks, federal funds purchased, and securities sold under agreement to repurchase, maturing within 30 days, and FHLB borrowings. 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, 2017 and December 31, 2016: 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 factors. The Company reviews the prices supplied by independent pricing services, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. The fair value of collateralized loan obligations is 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 or mortgage. Each loan category is further segmented into fixed and adjustable rate interest terms and by performing and nonperforming categories. The fair value of loans, except residential mortgages, is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risks inherent in the loan. For residential mortgage loans, fair value is estimated by discounting contractual cash flows adjusting for prepayment assumptions using discount rates based on secondary market sources. The estimated fair value is not an exit price fair value under ASC 820 when this valuation technique is used. Loans held for sale : Fair values are based upon estimated values received from independent third party purchasers. 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 the 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, 2017 and December 31, 2016, respectively. September 30, December 31, (Dollars in thousands) 2017 2016 Aggregate fair value $ 29,447 $ 15,332 Contractual balance 28,782 14,904 Gains 665 428 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. |
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS | 9 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
Business Combinations | NOTE L BUSINESS COMBINATIONS Acquisition of Floridian Financial Group, Inc. On March 11, 2016, the Company completed its acquisition of Floridian. Simultaneously, upon completion of the merger, Floridian’s wholly owned subsidiary bank, Floridian Bank, was merged with and into Seacoast Bank. Floridian, headquartered in Lake Mary, Florida, operated 10 branches in Orlando and Daytona Beach, of which several were consolidated with Seacoast locations. This acquisition added approximately $ 417 337 266 The Company acquired 100 Under the terms of the definitive agreement, Floridian shareholders received, 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 equaled 35% cash and 65% Seacoast shares (based on Seacoast’s closing price of $15.47 per share on March 11, 2016). March 11, 2016 Shares exchanged for cash $ 26,699,000 Number of Floridian Financial Group, Inc. common shares outstanding 6,222,119 Per share exchange ratio 0.5289 Number of shares of Seacoast common stock issued 3,291,066 Multiplied by common stock price per share on March 11, 2016 $ 15.47 Value of common stock issued 50,912,791 Total purchase price $ 77,611,791 Business Combinations Measurement Initial Report Period As Adjusted Date of acquisition March 11, 2016 Adjustments March 11, 2016 (in thousands) Assets: Cash $ 28,243 $ 0 $ 28,243 Investment securities 66,912 95 67,007 Loans, net 268,249 (2,112) 266,137 Fixed assets 7,801 (628) 7,173 Core deposit intangibles 3,375 0 3,375 Goodwill 29,985 1,647 31,632 Other assets 12,879 998 13,877 $ 417,444 $ 0 $ 417,444 Liabilities: Deposits $ 337,341 $ 0 $ 337,341 Other liabilities 2,492 0 2,492 $ 339,833 $ 0 $ 339,833 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. March 11, 2016 (In thousands) Book Balance Fair Value Loans: Single family residential real estate $ 38,304 $ 37,367 Commercial real estate 172,531 167,105 Construction/development/land 20,546 18,108 Commercial loans 39,070 37,804 Consumer and other loans 3,385 3,110 Purchased credit-impaired 6,186 2,643 Total acquired loans $ 280,022 $ 266,137 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 PCI loans were all acquired loans that were nonaccrual, 60 days or more past due, designated as TDRs, 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 the total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and fair value of the loans as of March 11, 2016 for PCI loans. (In thousands) March 11, 2016 Contractually required principal and interest $ 8,031 Non-accretable difference (4,820) Cash flows expected to be collected 3,211 Accretable yield (568) Total purchased credit-impaired loan acquired $ 2,643 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, deposits were analyzed based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships. The acquisition of Floridian constitutes a business combination. Accordingly, the assets acquired and liabilities assumed are presented at their fair values. The determination of fair value required 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, and in some instances rely on use of third party experts. Acquisition of BMO Harris Central Florida Offices, Deposits and Loans On June 3, 2016, Seacoast Bank assumed approximately $ 314 3.0 63 0.5 Business Combinations Measurement Initial Report Period As Adjusted Date of acquisition June 3, 2016 Adjustments June 3, 2016 (in thousands) Assets: Cash from BMO (net of payable) $ 234,094 $ 0 $ 234,094 Loans, net 62,671 0 62,671 Fixed assets 3,715 0 3,715 Core deposit intangibles 5,223 (135) 5,088 Goodwill 7,645 163 7,808 Other assets 952 (28) 924 $ 314,300 $ 0 $ 314,300 Liabilities: Deposits $ 314,248 $ 0 $ 314,248 Other liabilities 52 0 52 $ 314,300 $ 0 $ 314,300 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. June 3, 2016 (In thousands) Book Balance Fair Value Loans: Commercial real estate $ 31,564 $ 31,200 Commercial loans 32,479 31,471 Purchased credit-impaired 0 0 Total acquired loans $ 64,043 $ 62,671 At June 3, 2016, no loans acquired from BMO were specifically identified with a credit deficiency factor(s). The factors we consider to identify loans as PCI loans are acquired loans that were nonaccrual, 60 days or more past due, designated as TDR, graded “special mention” or “substandard.” PULs were 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 intangibles (including goodwill) of approximately $ 13 15 Acquisition of GulfShore Bancshares, Inc. On April 7, 2017, the Company completed its acquisition of GulfShore. Simultaneously, upon completion of the merger, GulfShore’s wholly owned subsidiary bank, GulfShore Bank, was merged with and into Seacoast Bank. GulfShore, headquartered in Tampa, Florida, operated 3 branches in Tampa and St. Petersburg, of which all have been retained as Seacoast locations. 100 April 7, 2017 Shares exchanged for cash $ 8,033,999 Number of GulfShore Bancshares, Inc. common shares outstanding 5,464,308 Per share exchange ratio 0.4807 Number of shares of Seacoast common stock issued 2,626,693 Multiplied by common stock price per share on April 7, 2017 $ 23.94 Value of common stock issued 62,883,030 Total purchase price $ 70,917,029 Merger related charges summed to $ 4.3 Business Combinations 37 Measurement Initial Report Period As Adjusted Date of acquisition April 7, 2017 Adjustments April 7, 2017 (in thousands) Assets: Cash $ 55,540 $ 0 $ 55,540 Investment securities 316 0 316 Loans, net 250,884 (8) 250,876 Fixed assets 1,307 0 1,307 Other real estate owned 13 0 13 Core deposit intangibles 3,927 0 3,927 Goodwill 37,090 8 37,098 Other assets 8,572 0 8,572 $ 357,649 $ 0 $ 357,649 Liabilities: Deposits $ 285,350 $ 0 $ 285,350 Other liabilities 1,382 0 1,382 $ 286,732 $ 0 $ 286,732 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. April 7, 2017 (In thousands) Book Balance Fair Value Loans: Single family residential real estate $ 101,281 $ 99,598 Commercial real estate 106,729 103,905 Construction/development/land 13,175 11,653 Commercial loans 32,137 32,247 Consumer and other loans 3,554 3,473 Purchased credit-impaired 0 0 Total acquired loans $ 256,876 $ 250,876 No loans acquired were specifically identified with credit deficiency factor(s), pursuant to ASC Topic 310-30. The factors we considered to identify loans as PCI loans were all acquired loans that were nonaccrual, 60 days or more past due, designated as TDR, graded “special mention” or “substandard.” Loans without specifically identified credit deficiency factors are referred to as 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, deposits were analyzed based on factors such as type of deposit, deposit retention, interest rates and age of deposit relationships. The determination of fair value required 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, and in some instances rely on use of third party experts. These fair value estimates are considered preliminary and are subject to change for up to one year after the closing date of the acquisition as additional information becomes available. For GulfShore, fair values as presented for securities, loans, fixed assets, other real estate owned, and certain other assets and liabilities are necessarily considered preliminary. Operating results of the Company for the three months ended September 30, 2017 include the operation of the acquired assets and assumed liabilities since the date of acquisition of April 7, 2017. Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share amounts) 2016 2017 2016 Net interest income $ 40,102 $ 131,178 $ 109,738 Net income 9,798 30,884 20,364 EPS - basic 0.24 0.73 0.52 EPS - diluted 0.24 0.72 0.51 Acquisition of NorthStar Bank On October 20, 2017, the Company completed its acquisition of NorthStar Banking Corporation (“NSBC”). Simultaneously, upon completion of the merger, NSBC’s wholly owned subsidiary bank, NorthStar Bank, was merged with and into Seacoast Bank. NorthStar, headquartered in Tampa, Florida, operated three branches in Tampa, of which all have been retained as Seacoast locations. 100 October 20, 2017 Shares exchanged for cash $ 4,700,129 Number of NorthStar Banking Corporation common shares outstanding 1,958,387 Per share exchange ratio 0.5605 Number of shares of Seacoast common stock issued 1,097,675 Multiplied by common stock price per share on October 20, 2017 $ 24.92 Value of common stock issued 27,354,061 Cash paid for NorthStar Banking vested Corporation stock options 801,168 Total purchase price $ 32,855,358 Acquisition of Palm Beach Community Bank On November 3, 2017, the Company completed its acquisition of Palm Beach Community Bank (“PBCB”), and PBCB was merged with and into Seacoast Bank. PBCB, headquartered in West Palm Beach, Florida, operated four branches in West Palm Beach, of which all have been retained as Seacoast locations. 100 November 3, 2017 Shares exchanged for cash $ 15,693,929 Number of Palm Beach Community Bank common shares outstanding 2,506,867 Per share exchange ratio 0.9240 Number of shares of Seacoast common stock issued 2,316,345 Multiplied by common stock price per share on November 3, 2017 $ 24.31 Value of common stock issued 56,310,350 Total purchase price $ 72,004,279 The acquisitions of NorthStar and PBCB will be accounted for under the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations. The Company’s assessment of the fair value of assets acquired and liabilities assumed as of the acquisition date is incomplete at the time of this filing; therefore, certain disclosures have been omitted. The Company expects to recognize goodwill in each of these transactions, which is expected to be nondeductible for tax purposes. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Policies [Abstract] | |
Use of Estimates | 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 PE21
BASIC AND DILUTED EARNINGS PER COMMON SHARE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Options to purchase 274,000 191,000 243,000 199,000 Three Months Ended Nine Months Ended September 30, September 30, (Dollars in thousands, except per share data) 2017 2016 2017 2016 Basic: Income available to common shareholders $ 14,216 $ 9,133 $ 29,818 $ 18,431 Average basic shares outstanding 43,151,248 37,549,804 41,626,356 36,626,290 Basic earnings per share $ 0.33 $ 0.24 $ 0.72 $ 0.50 Diluted: Income available to common shareholders $ 14,216 $ 9,133 $ 29,818 $ 18,431 Average basic shares outstanding 43,151,248 37,549,804 41,626,356 36,626,290 Restricted stock and stock options 640,860 620,059 671,780 631,843 Average diluted shares outstanding 43,792,108 38,169,863 42,298,136 37,258,133 Diluted earnings per share $ 0.32 $ 0.24 $ 0.70 $ 0.49 |
SECURITIES (Tables)
SECURITIES (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Fair Value of Securities Available for Sale and Held for Investment | The amortized cost, unrealized gains and losses, and fair value of securities available for sale and held to maturity at September 30, 2017 and December 31, 2016 are summarized as follows: September 30, 2017 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 $ 9,830 $ 310 $ 0 $ 10,140 Mortgage backed securities of U.S. Government Sponsored Entities 284,015 1,245 (2,298) 282,962 Collateralized mortgage obligations of U.S. Government Sponsored Entities 232,278 525 (4,001) 228,802 Commercial mortgage backed securities of U.S. Government Sponsored Entities 22,274 355 (10) 22,619 Private mortgage backed securities 32,928 925 0 33,853 Private collateralized mortgage obligations 50,725 682 (302) 51,105 Collateralized loan obligations 207,341 794 (18) 208,117 Obligations of state and political subdivisions 59,495 1,065 (375) 60,185 Corporate and other debt securities 70,083 803 (89) 70,797 Private commercial mortgage backed securities 28,186 198 (165) 28,219 $ 997,155 $ 6,902 $ (7,258) $ 996,799 SECURITIES HELD TO MATURITY Mortgage backed securities of U.S. Government Sponsored Entities $ 179,437 $ 1,403 $ (996) $ 179,844 Collateralized mortgage obligations of U.S. Government Sponsored Entities 126,849 462 (1,506) 125,805 Commercial mortgage backed securities of U.S. Government Sponsored Entities 17,441 645 0 18,086 Collateralized loan obligations 45,438 228 0 45,666 Private collateralized mortgage obligations 5,608 8 (56) 5,560 $ 374,773 $ 2,746 $ (2,558) $ 374,961 December 31, 2016 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 $ 12,073 $ 255 $ 0 $ 12,328 Mortgage backed securities of U.S. Government Sponsored Entities 287,726 585 (4,823) 283,488 Collateralized mortgage obligations of U.S. Government Sponsored Entities 238,805 314 (5,065) 234,054 Commercial mortgage backed securities of U.S. Government Sponsored Entities 22,351 222 (28) 22,545 Private mortgage backed securities 32,780 0 (791) 31,989 Private collateralized mortgage obligations 67,542 563 (816) 67,289 Collateralized loan obligations 124,716 838 (665) 124,889 Obligations of state and political subdivisions 63,161 622 (895) 62,888 Corporate and other debt securities 74,121 257 (517) 73,861 Private commercial mortgage backed securities 37,534 111 (473) 37,172 $ 960,809 $ 3,767 $ (14,073) $ 950,503 SECURITIES HELD TO MATURITY Mortgage backed securities of U.S. Government Sponsored Entities $ 159,941 $ 704 $ (1,243) $ 159,402 Collateralized mortgage obligations of U.S. Government Sponsored Entities 147,208 386 (2,630) 144,964 Commercial mortgage backed securities of U.S. Government Sponsored Entities 17,375 233 (74) 17,534 Collateralized loan obligations 41,547 430 (314) 41,663 Private collateralized mortgage obligations 6,427 0 (109) 6,318 $ 372,498 $ 1,753 $ (4,370) $ 369,881 |
Amortized Cost and Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities available for sale and held to maturity at September 30, 2017, 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. Securities not due at a single maturity date are shown separately. Held to Maturity Available for Sale Amortized Fair Amortized Fair (Dollars in thousands) Cost Value Cost Value Due in less than one year $ 0 $ 0 $ 6,103 $ 6,108 Due after one year through five years 3,600 3,614 79,463 80,338 Due after five years through ten years 41,838 42,052 224,255 225,737 Due after ten years 0 0 26,525 26,635 45,438 45,666 336,346 338,818 Mortgage backed securities of U.S. Government Sponsored Entities 179,437 179,844 284,015 282,962 Collateralized mortgage obligations of U.S. Government Sponsored Entities 126,849 125,805 232,278 228,802 Commercial mortgage backed securities of U.S. Government Sponsored Entities 17,441 18,086 22,274 22,619 Private mortgage backed securities 0 0 32,928 33,853 Private collateralized mortgage obligations 5,608 5,560 50,725 51,105 Other debt securities 0 0 10,403 10,421 Private commercial mortgage backed securities 0 0 28,186 28,219 $ 374,773 $ 374,961 $ 997,155 $ 996,799 |
Schedule of Unrealized Loss and Fair Value on Investments | The tables below indicate the amount of securities with unrealized losses and the period of time for which these losses were outstanding at September 30, 2017 and December 31, 2016, respectively. September 30, 2017 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 $ 152,796 $ (1,963) $ 109,433 $ (1,331) $ 262,229 $ (3,294) Collateralized mortgage obligations of U.S. Government Sponsored Entities 51,067 (365) 225,546 (5,142) 276,613 (5,507) Commercial mortgage-backed securities of U.S. Government Sponsored Entities 3,111 (10) 0 0 3,111 (10) Private mortgage backed securities 0 0 0 0 0 0 Private collateralized mortgage obligations 0 0 22,003 (358) 22,003 (358) Collateralized loan obligations 21,998 (18) 0 0 21,998 (18) Obligations of state and political subdivisions 11,556 (86) 5,639 (289) 17,195 (375) Corporate and other debt securities 998 0 8,301 (89) 9,299 (89) Private commercial mortgage backed securities 7,887 (95) 3,727 (70) 11,614 (165) Total temporarily impaired securities $ 249,413 $ (2,537) $ 374,649 $ (7,279) $ 624,062 $ (9,816) December 31, 2016 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 $ 327,759 $ (5,991) $ 5,387 $ (75) $ 333,146 $ (6,066) Collateralized mortgage obligations of U.S. Government Sponsored Entities 234,175 (5,599) 58,912 (2,096) 293,087 (7,695) Commercial mortgage backed securities of U.S. Government Sponsored Entities 7,934 (102) 0 0 7,934 (102) Private mortgage backed securities 0 0 36,848 (900) 36,848 (900) Private collateralized mortgage obligations 1,460 0 38,417 (816) 39,877 (816) Collateralized loan obligations 8,152 (41) 51,694 (938) 59,846 (979) Obligations of state and political subdivisions 39,321 (895) 0 0 39,321 (895) Corporate and other debt securities 33,008 (517) 0 0 33,008 (517) Private commercial mortgage backed securities 12,667 (306) 7,139 (167) 19,806 (473) Total temporarily impaired securities $ 664,476 $ (13,451) $ 198,397 $ (4,992) $ 862,873 $ (18,443) |
LOANS (Tables)
LOANS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Information relating to portfolio loans, purchased credit impaired (“PCI”) loans, and purchased unimpaired loans (“PUL”) as of September 30, 2017 and December 31, 2016 is summarized as follows: September 30, 2017 Portfolio Loans PCI Loans PUL's Total (In thousands) Construction and land development $ 200,860 $ 116 $ 44,175 $ 245,151 Commercial real estate 1,146,359 8,975 322,758 1,478,092 Residential real estate 832,656 528 107,985 941,169 Commercial and financial 476,511 824 58,122 535,457 Consumer 180,467 0 4,018 184,485 Other loans 637 0 0 637 NET LOAN BALANCES (1) $ 2,837,490 $ 10,443 $ 537,058 $ 3,384,991 December 31, 2016 Portfolio Loans PCI Loans PUL's Total (In thousands) Construction and land development $ 137,480 $ 114 $ 22,522 $ 160,116 Commercial real estate 1,041,915 11,257 304,420 1,357,592 Residential real estate 784,290 684 51,813 836,787 Commercial and financial 308,731 941 60,917 370,589 Consumer 152,927 0 1,018 153,945 Other loans 507 0 0 507 NET LOAN BALANCES (1) $ 2,425,850 $ 12,996 $ 440,690 $ 2,879,536 (1) Net loan balances as of September 30, 2017 and December 31, 2016 include deferred costs of $ 12.1 10.6 |
Contractually Required Principal And Interest Cash Payments Changes | Activity during the three months ended September 30, 2017: Reclassifications from nonaccretable September 30, June 30, 2017 Additions Deletions Accretion difference 2017 (In thousands) Accretable yield $ 3,265 0 0 (357) 407 $ 3,315 Recorded investment of acquired loans $ 13,132 $ 10,443 Allowance for loan losses 0 0 Recorded investment less allowance for loan losses $ 13,132 $ 10,443 Activity during the nine months ended September 30, 2017: Reclassifications from December 31, nonaccretable September 30, 2016 Additions Deletions Accretion difference 2017 (In thousands) Accretable yield $ 3,807 0 (10) (1,173) 691 $ 3,315 Recorded investment of acquired loans $ 12,996 $ 10,443 Allowance for loan losses 0 0 Recorded investment less allowance for loan losses $ 12,996 $ 10,443 Activity during the three months ended September 30, 2016: Reclassifications from nonaccretable September 30, June 30, 2016 Additions Deletions Accretion difference 2016 (In thousands) Accretable yield $ 4,674 0 0 (492) 0 $ 4,182 Recorded investment of acquired loans $ 13,652 $ 13,057 Allowance for loan losses 0 Recorded investment less allowance for loan losses $ 13,652 $ 13,057 Activity during the nine months ended September 30, 2016: Reclassifications from December 31, nonaccretable September 30, 2015 Additions Deletions Accretion difference 2016 (In thousands) Accretable yield $ 2,610 2,094 (15) (1,499) 992 $ 4,182 Recorded investment of acquired loans $ 12,109 $ 13,057 Allowance for loan losses 0 0 Recorded investment less allowance for loan losses $ 12,109 $ 13,057 |
Past Due Financing Receivables | The following tables present the contractual delinquency of the recorded investment in past due loans by class of loans as of September 30, 2017 and December 31, 2016: Accruing Accruing Accruing Greater Total September 30, 2017 30-59 Days 60-89 Days Than Financing (In thousands) Past Due Past Due 90 Days Nonaccrual Current Receivables Portfolio Loans Construction and land development $ 273 $ 0 $ 0 $ 364 $ 200,223 $ 200,860 Commercial real estate 646 0 0 1,870 1,143,843 1,146,359 Residential real estate 1,013 107 0 8,341 823,195 832,656 Commercial and financial 1,699 0 0 193 474,619 476,511 Consumer 396 16 0 109 179,946 180,467 Other 0 0 0 0 637 637 Total 4,027 123 0 10,877 2,822,463 2,837,490 Purchased Unimpaired Loans Construction and land development 35 0 0 72 44,068 44,175 Commercial real estate 860 0 0 732 321,166 322,758 Residential real estate 152 113 0 1,163 106,557 107,985 Commercial and financial 321 0 0 332 57,469 58,122 Consumer 0 0 0 0 4,018 4,018 Other 0 0 0 0 0 0 Total 1,368 113 0 2,299 533,278 537,058 Purchased Credit Impaired Loans Construction and land development 0 0 0 0 116 116 Commercial real estate 0 0 0 1,199 7,776 8,975 Residential real estate 0 0 0 0 528 528 Commercial and financial 0 0 0 0 824 824 Consumer 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 0 0 0 1,199 9,244 10,443 Total Loans $ 5,395 $ 236 $ 0 $ 14,375 $ 3,364,985 $ 3,384,991 Accruing Accruing Accruing Greater Total December 31, 2016 30-59 Days 60-89 Days Than Financing (In thousands) Past Due Past Due 90 Days Nonaccrual Current Receivables Portfolio Loans Construction and land development 0 0 0 438 137,042 137,480 Commercial real estate 78 171 0 1,784 1,039,882 1,041,915 Residential real estate 1,570 261 0 8,582 773,877 784,290 Commercial and financial 30 0 0 49 308,652 308,731 Consumer 29 59 0 170 152,669 152,927 Other 0 0 0 0 507 507 Total 1,707 491 0 11,023 2,412,629 2,425,850 Purchased Unimpaired Loans Construction and land development 0 0 0 32 22,490 22,522 Commercial real estate 345 485 0 1,272 302,318 304,420 Residential real estate 153 0 0 1,262 50,398 51,813 Commercial and financial 39 328 0 197 60,353 60,917 Consumer 37 0 0 0 981 1,018 Other 0 0 0 0 0 0 Total 574 813 0 2,763 436,540 440,690 Purchased Impaired Loans Construction and land development 0 0 0 0 114 114 Commercial real estate 0 0 0 4,285 6,972 11,257 Residential real estate 0 185 0 0 499 684 Commercial and financial 0 0 0 0 941 941 Consumer 0 0 0 0 0 0 Other 0 0 0 0 0 0 Total 0 185 0 4,285 8,526 12,996 Total Loans $ 2,281 $ 1,489 $ 0 $ 18,071 $ 2,857,695 $ 2,879,536 |
Financing Receivable Credit Quality Indicators | The following tables present the risk category of loans by class of loans based on the most recent analysis performed as of September 30, 2017 and December 31, 2016: September 30, 2017 Construction Commercial & Land Commercial Residential and Consumer (In thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 232,183 $ 1,442,538 $ 917,500 $ 527,190 $ 183,031 $ 3,302,442 Special mention 8,844 11,534 1,317 3,414 1,462 26,571 Substandard 3,439 14,466 2,966 4,328 223 25,422 Doubtful 0 0 0 0 0 0 Nonaccrual 436 3,801 9,504 525 109 14,375 Pass-Troubled debt restructures 33 4,876 0 0 0 4,909 Troubled debt restructures 216 877 9,882 0 297 11,272 $ 245,151 $ 1,478,092 $ 941,169 $ 535,457 $ 185,122 $ 3,384,991 December 31, 2016 Construction Commercial & Land Commercial Residential and Consumer (In thousands) Development Real Estate Real Estate Financial Loans Total Pass $ 148,563 $ 1,319,696 $ 811,576 $ 364,241 $ 153,730 $ 2,797,806 Special mention 5,037 17,184 1,780 3,949 67 28,017 Substandard 5,497 7,438 2,709 2,153 134 17,931 Doubtful 0 0 0 0 0 0 Nonaccrual 470 7,341 9,844 246 170 18,071 Pass-Troubled debt restructures 44 4,988 358 0 44 5,434 Troubled debt restructures 505 945 10,520 0 307 12,277 $ 160,116 $ 1,357,592 $ 836,787 $ 370,589 $ 154,452 $ 2,879,536 |
IMPAIRED LOANS AND ALLOWANCE 24
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Troubled Debt Restructurings on Financing Receivables | The following table presents loans that were modified during the nine months ended September 30, 2017: Pre- Post- Modification Modification Number Outstanding Outstanding Valuation of Recorded Recorded Allowance (Dollars in thousands) Contracts Investment Investment Recorded Construction and land development 1 $ 52 $ 46 $ 6 Residential real estate 1 15 15 0 2 $ 67 $ 61 $ 6 The following table presents loans that were modified during the nine months ended September 30, 2016: Pre- Post- Modification Modification Number Outstanding Outstanding Valuation of Recorded Recorded Allowance (Dollars in thousands) Contracts Investment Investment Recorded Residential real estate 6 $ 1,660 $ 1,489 $ 171 6 $ 1,660 $ 1,489 $ 171 |
Impaired Financing Receivables | As of September 30, 2017 and December 31, 2016, the Company’s recorded investment in impaired loans (excluding PCI loans), the unpaid principal balance, and the related valuation allowance were as follows: September 30, 2017 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 397 $ 702 $ 0 Commercial real estate 3,431 4,811 0 Residential real estate 10,598 15,283 0 Commercial and financial 29 39 0 Consumer 117 191 0 Impaired Loans with an Allowance Recorded: Construction and land development 289 355 91 Commercial real estate 4,931 4,939 222 Residential real estate 8,773 8,970 1,188 Commercial and financial 1,127 501 521 Consumer 290 292 48 Total: Construction and land development 686 1,057 91 Commercial real estate 8,362 9,750 222 Residential real estate 19,371 24,253 1,188 Commercial and financial 1,156 540 521 Consumer 407 483 48 $ 29,982 $ 36,083 $ 2,070 December 31, 2016 Unpaid Related Recorded Principal Valuation (Dollars in thousands) Investment Balance Allowance Impaired Loans with No Related Allowance Recorded: Construction and land development $ 226 $ 321 $ 0 Commercial real estate 3,267 4,813 0 Residential real estate 9,706 14,136 0 Commercial and financial 199 206 0 Consumer 0 0 0 Impaired Loans with an Allowance Recorded: Construction and land development 51 51 0 Commercial real estate 6,937 6,949 395 Residential real estate 12,332 12,681 2,059 Commercial and financial 0 0 0 Consumer 0 0 0 Total: Construction and land development 277 372 0 Commercial real estate 10,204 11,762 395 Residential real estate 22,038 26,817 2,059 Commercial and financial 199 206 0 Consumer 0 0 0 $ 32,718 $ 39,157 $ 2,454 For the three months ended September 30, 2017 and 2016, the Company’s average recorded investments in impaired loans (excluding PCI loans) and related interest income were as follows: Three Months Ended Three Months Ended September 30, 2017 September 30, 2016 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 $ 517 $ 13 $ 208 $ 3 Commercial real estate 3,004 75 1,437 31 Residential real estate 10,266 150 9,346 138 Commercial and financial 244 1 16 0 Consumer 124 3 157 3 Impaired Loans with an Allowance Recorded: Construction & land development 333 2 609 7 Commercial real estate 4,953 56 6,565 64 Residential real estate 9,831 63 12,038 102 Commercial and financial 646 2 0 0 Consumer 333 3 383 4 Total: Construction & land development 850 15 817 10 Commercial real estate 7,957 131 8,002 95 Residential real estate 20,097 213 21,384 240 Commercial and financial 890 3 16 0 Consumer 457 6 540 7 $ 30,251 $ 368 $ 30,759 $ 352 For the nine months ended September 30, 2017 and 2016, the Company’s average recorded investments in impaired loans and related interest income were as follows: Nine Months Ended Nine Months Ended September 30, 2017 September 30, 2016 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 $ 460 $ 35 $ 188 $ 11 Commercial real estate 2,833 154 1,854 97 Residential real estate 9,933 447 9,444 406 Commercial and financial 183 3 16 0 Consumer 111 10 193 10 Impaired Loans with an Allowance Recorded: Construction & land development 242 8 671 20 Commercial real estate 5,789 163 6,835 193 Residential real estate 11,029 260 12,098 322 Commercial and financial 378 14 0 0 Consumer 247 12 363 14 Total: Construction & land development 702 43 859 31 Commercial real estate 8,622 317 8,689 290 Residential real estate 20,962 707 21,542 728 Commercial and financial 561 17 16 0 Consumer 358 22 556 24 $ 31,205 $ 1,106 $ 31,662 $ 1,073 |
Allowance for Credit Losses on Financing Receivables | Activity in the allowance for loan losses (excluding PCI loans) for the three month and nine month periods ended September 30, 2017 and 2016 is summarized as follows: Allowance for Loan Losses for the Three Months Ended September 30, 2017 Provision TDR Beginning for Loan Charge- Valuation Ending (Dollars in thousands) Balance Losses Offs Recoveries Adjustments Balance Construction & land development $ 1,574 $ (690) $ 0 $ 728 $ 0 $ 1,612 Commercial real estate 9,923 62 (239) 175 (15) 9,906 Residential real estate 7,423 116 (296) 39 (148) 7,134 Commercial and financial 5,460 834 (333) 28 0 5,989 Consumer 1,620 358 (442) 61 (6) 1,591 $ 26,000 $ 680 $ (1,310) $ 1,031 $ (169) $ 26,232 Allowance for Loan Losses for the Nine Months Ended September 30, 2017 Provision TDR Beginning for Loan Charge- Valuation Ending (Dollars in thousands) Balance Losses Offs Recoveries Adjustments Balance Construction & land development $ 1,219 $ (496) $ 0 $ 891 $ (2) $ 1,612 Commercial real estate 9,273 410 (341) 613 (49) 9,906 Residential real estate 7,483 90 (482) 266 (223) 7,134 Commercial and financial 3,636 3,036 (837) 154 0 5,989 Consumer 1,789 345 (756) 221 (8) 1,591 $ 23,400 $ 3,385 $ (2,416) $ 2,145 $ (282) $ 26,232 Allowance for Loan Losses for the Three Months Ended September 30, 2016 Provision TDR Beginning for Loan Charge- Valuation Ending (Dollars in thousands) Balance Losses Offs Recoveries Adjustments Balance Construction & land development $ 1,160 $ 50 $ 0 $ 25 $ (2) $ 1,233 Commercial real estate 7,192 1,505 (78) 169 (55) 8,733 Residential real estate 8,299 (637) 0 272 (25) 7,909 Commercial and financial 2,591 (633) (200) 1,278 0 3,036 Consumer 1,483 265 (18) 44 (1) 1,773 $ 20,725 $ 550 $ (296) $ 1,788 $ (83) $ 22,684 Allowance for Loan Losses for the Nine Months Ended September 30, 2016 Provision TDR Beginning for Loan Charge- Valuation Ending (Dollars in thousands) Balance Losses Offs Recoveries Adjustments Balance Construction & land development $ 1,151 $ (125) $ 0 $ 214 $ (7) $ 1,233 Commercial real estate 6,756 2,025 (209) 271 (110) 8,733 Residential real estate 8,057 (626) (135) 669 (56) 7,909 Commercial and financial 2,042 (524) (255) 1,773 0 3,036 Consumer 1,122 661 (98) 91 (3) 1,773 $ 19,128 $ 1,411 $ (697) $ 3,018 $ (176) $ 22,684 |
Loan Portfolio And Related Allowance | The allowance for loan losses is composed of specific allowances for certain impaired loans and general allowances grouped into loan pools based on similar characteristics. The Company’s loan portfolio (excluding PCI loans) and related allowance at September 30, 2017 and December 31, 2016 is shown in the following tables: At September 30, 2017 Individually Evaluated for Collectively Evaluated for Impairment Impairment Total Recorded Associated Recorded Associated Recorded Associated (Dollars in thousands) Investment Allowance Investment Allowance Investment Allowance Construction & land development $ 686 $ 91 $ 244,349 $ 1,521 $ 245,035 $ 1,612 Commercial real estate 8,362 222 1,460,755 9,684 1,469,117 9,906 Residential real estate 19,371 1,188 921,270 5,946 940,641 7,134 Commercial and financial 1,156 521 533,477 5,468 534,633 5,989 Consumer 407 48 184,715 1,543 185,122 1,591 $ 29,982 $ 2,070 $ 3,344,566 $ 24,162 $ 3,374,548 $ 26,232 At December 31, 2016 Individually Evaluated for Collectively Evaluated for Impairment Impairment Total Recorded Associated Recorded Associated Recorded Associated (Dollars in thousands) Investment Allowance Investment Allowance Investment Allowance Construction & land development $ 277 $ 0 $ 159,839 $ 1,219 $ 160,116 $ 1,219 Commercial real estate 10,204 395 1,335,832 8,878 1,346,036 9,273 Residential real estate 22,038 2,059 814,250 5,424 836,288 7,483 Commercial and financial 199 0 369,449 3,636 369,648 3,636 Consumer 0 0 154,452 1,789 154,452 1,789 $ 32,718 $ 2,454 $ 2,833,822 $ 20,946 $ 2,866,540 $ 23,400 |
PCI Loans [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan Portfolio And Related Allowance | The table below summarizes PCI loans that were individually evaluated for impairment based on expected cash flows at September 30, 2017 and December 31, 2016: PCI Loans Individually Evaluated for Impairment September 30, 2017 December 31, 2016 Recorded Associated Recorded Associated (Dollars in thousands) Investment Allowance Investment Allowance Construction & land development $ 116 $ 0 $ 114 $ 0 Commercial real estate 8,975 0 11,257 0 Residential real estate 528 0 684 0 Commercial and financial 824 0 941 0 Consumer 0 0 0 0 $ 10,443 $ 0 $ 12,996 $ 0 |
SECURITIES SOLD UNDER AGREEME25
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Schedule of Securities Financing Transactions | At September 30, 2017 and December 31, 2016, the fair value of Company securities pledged under agreements to repurchase were as follows by collateral type and maturity: Overnight and Continuous Maturity September 30, December 31, (Dollars in thousands) 2017 2016 Mortgage backed securities and collateralized mortgage obligations of U.S. Government Sponsored Entities $ 142,153 $ 204,202 |
NONINTEREST INCOME AND EXPENS26
NONINTEREST INCOME AND EXPENSES (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Noninterest Income and Expenses [Abstract] | |
Summary of Noninterest Income and Expense | Detail of noninterest income and expenses as of the three and nine months ended September 30, 2017 and 2016 follows: Three Months Ended Nine Months Ended September 30, September 30, (In thousands) 2017 2016 2017 2016 Noninterest income Service charges on deposits $ 2,626 $ 2,698 $ 7,483 $ 7,057 Trust income 967 820 2,764 2,464 Mortgage banking fees 2,138 1,885 4,962 4,248 Brokerage commissions and fees 351 463 1,079 1,564 Marine finance fees 137 138 597 558 Interchange income 2,582 2,306 7,747 6,893 Other deposit-based EFT fees 100 109 354 352 BOLI income 836 382 2,326 1,602 Other income 1,744 963 4,541 2,767 11,481 9,764 31,853 27,505 Securities gains (losses), net (47) 225 (26) 361 TOTAL $ 11,434 $ 9,989 $ 31,827 $ 27,866 Noninterest expense Salaries and wages $ 15,627 $ 14,337 $ 49,371 $ 41,620 Employee benefits 2,917 2,425 8,920 7,428 Outsourced data processing costs 3,231 3,198 9,956 10,440 Telephone/data lines 573 539 1,753 1,606 Occupancy 2,447 3,675 10,025 10,292 Furniture and equipment 1,191 1,228 4,261 3,509 Marketing 1,298 780 3,294 2,786 Legal and professional fees 2,560 2,213 7,968 7,226 FDIC assessments 548 517 1,768 1,704 Amortization of intangibles 839 728 2,397 1,767 Asset disposition expense 117 219 306 469 Net loss (gain) on other real estate owned and repossessed assets (414) (96) (599) (348) Early redemption cost for Federal Home Loan Bank borrowings 0 0 0 1,777 Other 3,427 3,672 11,312 10,308 TOTAL $ 34,361 $ 33,435 $ 110,732 $ 100,584 |
FAIR VALUE (Tables)
FAIR VALUE (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis | Under ASC 820, fair value measurements for items measured at fair value on a recurring and nonrecurring basis at September 30, 2017 and December 31, 2016 included: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Fair Value Assets Inputs Inputs (Dollars in thousands) Measurements (Level 1) (Level 2) (Level 3) At September 30, 2017: Available for sale securities (1) $ 996,799 $ 100 $ 996,699 $ 0 Loans held for sale (2) 29,447 0 29,447 0 Loans (3) 4,160 0 2,973 1,187 Other real estate owned (4) 7,142 0 0 7,142 At December 31, 2016: Available for sale securities (1) $ 950,503 $ 100 $ 950,403 $ 0 Loans held for sale (2) 15,332 0 15,332 0 Loans (3) 4,120 0 3,170 950 Other real estate owned (4) 9,949 0 0 9,949 (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 | 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, 2017 and December 31, 2016 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, 2017: Financial Assets Securities held to maturity (1) $ 374,773 $ 0 $ 374,961 $ 0 Time deposits with other banks 14,591 0 0 14,557 Loans, net 3,345,978 0 0 3,328,023 Financial Liabilities Deposit liabilities 4,112,600 0 0 4,110,324 Subordinated debt 70,451 0 55,072 0 At December 31, 2016: Financial Assets Securities held to maturity (1) $ 372,498 $ 0 $ 369,881 $ 0 Loans, net 2,852,016 0 0 2,840,993 Financial Liabilities Deposit liabilities 3,523,245 0 0 3,523,322 Subordinated debt 70,241 0 54,908 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 | Loans held for sale were as follows at September 30, 2017 and December 31, 2016: September 30, December 31, (Dollars in thousands) 2017 2016 Aggregate fair value $ 29,447 $ 15,332 Contractual balance 28,782 14,904 Gains 665 428 |
BUSINESS COMBINATIONS (Tables)
BUSINESS COMBINATIONS (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Business Acquisition [Line Items] | |
Business Acquisition, Pro Forma Information | Pro-forma data for the three months ended September 30, 2016 and nine months ended September 30, 2017 and 2016 listed in the table below present pro-forma information as if the acquisition occurred at the beginning of 2016. Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except per share amounts) 2016 2017 2016 Net interest income $ 40,102 $ 131,178 $ 109,738 Net income 9,798 30,884 20,364 EPS - basic 0.24 0.73 0.52 EPS - diluted 0.24 0.72 0.51 |
Floridian Financial Group Inc [Member] | |
Business Acquisition [Line Items] | |
Schedule of summarizing the purchase price calculation | The following table represents the purchase price paid to Floridian shareholders in connection with the acquisition: March 11, 2016 Shares exchanged for cash $ 26,699,000 Number of Floridian Financial Group, Inc. common shares outstanding 6,222,119 Per share exchange ratio 0.5289 Number of shares of Seacoast common stock issued 3,291,066 Multiplied by common stock price per share on March 11, 2016 $ 15.47 Value of common stock issued 50,912,791 Total purchase price $ 77,611,791 |
Schedule of Business Acquisitions, by Acquisition | The acquisition was accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations Measurement Initial Report Period As Adjusted Date of acquisition March 11, 2016 Adjustments March 11, 2016 (in thousands) Assets: Cash $ 28,243 $ 0 $ 28,243 Investment securities 66,912 95 67,007 Loans, net 268,249 (2,112) 266,137 Fixed assets 7,801 (628) 7,173 Core deposit intangibles 3,375 0 3,375 Goodwill 29,985 1,647 31,632 Other assets 12,879 998 13,877 $ 417,444 $ 0 $ 417,444 Liabilities: Deposits $ 337,341 $ 0 $ 337,341 Other liabilities 2,492 0 2,492 $ 339,833 $ 0 $ 339,833 |
Fair Value, Assets Measured on Recurring Basis | 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. March 11, 2016 (In thousands) Book Balance Fair Value Loans: Single family residential real estate $ 38,304 $ 37,367 Commercial real estate 172,531 167,105 Construction/development/land 20,546 18,108 Commercial loans 39,070 37,804 Consumer and other loans 3,385 3,110 Purchased credit-impaired 6,186 2,643 Total acquired loans $ 280,022 $ 266,137 |
Schedule of Contractually required principal and interest payments | Contractually required principal and interest payments have been adjusted for estimated prepayments. (In thousands) March 11, 2016 Contractually required principal and interest $ 8,031 Non-accretable difference (4,820) Cash flows expected to be collected 3,211 Accretable yield (568) Total purchased credit-impaired loan acquired $ 2,643 |
BMO Harris Bank [Member] | |
Business Acquisition [Line Items] | |
Schedule Of Business Combinations Purchase Price Allocation [Table Text Block] | The acquisition is accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations Measurement Initial Report Period As Adjusted Date of acquisition June 3, 2016 Adjustments June 3, 2016 (in thousands) Assets: Cash from BMO (net of payable) $ 234,094 $ 0 $ 234,094 Loans, net 62,671 0 62,671 Fixed assets 3,715 0 3,715 Core deposit intangibles 5,223 (135) 5,088 Goodwill 7,645 163 7,808 Other assets 952 (28) 924 $ 314,300 $ 0 $ 314,300 Liabilities: Deposits $ 314,248 $ 0 $ 314,248 Other liabilities 52 0 52 $ 314,300 $ 0 $ 314,300 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. June 3, 2016 (In thousands) Book Balance Fair Value Loans: Commercial real estate $ 31,564 $ 31,200 Commercial loans 32,479 31,471 Purchased credit-impaired 0 0 Total acquired loans $ 64,043 $ 62,671 |
Gulf Shore Banc shares Inc [Member] | |
Business Acquisition [Line Items] | |
Schedule of summarizing the purchase price calculation | The Company acquired 100 April 7, 2017 Shares exchanged for cash $ 8,033,999 Number of GulfShore Bancshares, Inc. common shares outstanding 5,464,308 Per share exchange ratio 0.4807 Number of shares of Seacoast common stock issued 2,626,693 Multiplied by common stock price per share on April 7, 2017 $ 23.94 Value of common stock issued 62,883,030 Total purchase price $ 70,917,029 |
Schedule of Business Acquisitions, by Acquisition | The acquisition was accounted for under the acquisition method in accordance with ASC Topic 805, Business Combinations 37 Measurement Initial Report Period As Adjusted Date of acquisition April 7, 2017 Adjustments April 7, 2017 (in thousands) Assets: Cash $ 55,540 $ 0 $ 55,540 Investment securities 316 0 316 Loans, net 250,884 (8) 250,876 Fixed assets 1,307 0 1,307 Other real estate owned 13 0 13 Core deposit intangibles 3,927 0 3,927 Goodwill 37,090 8 37,098 Other assets 8,572 0 8,572 $ 357,649 $ 0 $ 357,649 Liabilities: Deposits $ 285,350 $ 0 $ 285,350 Other liabilities 1,382 0 1,382 $ 286,732 $ 0 $ 286,732 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. April 7, 2017 (In thousands) Book Balance Fair Value Loans: Single family residential real estate $ 101,281 $ 99,598 Commercial real estate 106,729 103,905 Construction/development/land 13,175 11,653 Commercial loans 32,137 32,247 Consumer and other loans 3,554 3,473 Purchased credit-impaired 0 0 Total acquired loans $ 256,876 $ 250,876 |
NorthStar Bank [Member] | |
Business Acquisition [Line Items] | |
Schedule of summarizing the purchase price calculation | The Company acquired 100 October 20, 2017 Shares exchanged for cash $ 4,700,129 Number of NorthStar Banking Corporation common shares outstanding 1,958,387 Per share exchange ratio 0.5605 Number of shares of Seacoast common stock issued 1,097,675 Multiplied by common stock price per share on October 20, 2017 $ 24.92 Value of common stock issued 27,354,061 Cash paid for NorthStar Banking vested Corporation stock options 801,168 Total purchase price $ 32,855,358 |
Palm Beach Community Bank [Member] | |
Business Acquisition [Line Items] | |
Schedule of summarizing the purchase price calculation | The Company acquired 100 November 3, 2017 Shares exchanged for cash $ 15,693,929 Number of Palm Beach Community Bank common shares outstanding 2,506,867 Per share exchange ratio 0.9240 Number of shares of Seacoast common stock issued 2,316,345 Multiplied by common stock price per share on November 3, 2017 $ 24.31 Value of common stock issued 56,310,350 Total purchase price $ 72,004,279 |
BASIC AND DILUTED EARNINGS PE29
BASIC AND DILUTED EARNINGS PER COMMON SHARE - Additional Information (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 274,000 | 191,000 | 243,000 | 199,000 |
BASIC AND DILUTED EARNINGS PE30
BASIC AND DILUTED EARNINGS 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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Basic: | ||||
Income available to common shareholders | $ 14,216 | $ 9,133 | $ 29,818 | $ 18,431 |
Average basic shares outstanding | 43,151,248 | 37,549,804 | 41,626,356 | 36,626,290 |
Basic earnings per share | $ 0.33 | $ 0.24 | $ 0.72 | $ 0.5 |
Diluted: | ||||
Income available to common shareholders | $ 14,216 | $ 9,133 | $ 29,818 | $ 18,431 |
Average basic shares outstanding | 43,151,248 | 37,549,804 | 41,626,356 | 36,626,290 |
Restricted stock and stock options | 640,860 | 620,059 | 671,780 | 631,843 |
Average diluted shares outstanding | 43,792,108 | 38,169,863 | 42,298,136 | 37,258,133 |
Diluted earnings per share | $ 0.32 | $ 0.24 | $ 0.7 | $ 0.49 |
SECURITIES - Additional Informa
SECURITIES - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2014 | Dec. 31, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | |||||||
Proceeds from Sale of Available-for-sale Securities, Debt | $ 3,700,000 | $ 26,800,000 | $ 7,525,000 | $ 39,047,000 | |||
Available-for-sale Securities, Gross Realized Gains | 15,000 | 301,000 | 36,000 | 448,000 | |||
Available-for-sale Securities, Gross Realized Losses | 62,000 | $ 76,000 | 62,000 | $ 87,000 | |||
Federal Home Loan Bank Stock and Federal Reserve Bank Stock | 38,600,000 | 38,600,000 | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 624,062,000 | 624,062,000 | $ 862,873,000 | ||||
Accumulated unrealized losses | 9,816,000 | 9,816,000 | 18,443,000 | ||||
Securities Available For Sale Transferred To Held-To-Maturity | 60,100,000 | $ 158,800,000 | |||||
Available For Sale Securities Transferred To Held To Maturity Securities Unrealized Gain Loss | 3,100,000 | $ 3,100,000 | |||||
Trading Securities, Unrealized Holding Loss | 1,500,000 | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 249,413,000 | 249,413,000 | 664,476,000 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 2,537,000 | 2,537,000 | 13,451,000 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 374,649,000 | 374,649,000 | 198,397,000 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ 7,279,000 | $ 7,279,000 | $ 4,992,000 | ||||
Common Stock, Shares, Outstanding | 43,512,179 | 43,512,179 | 38,021,835 | ||||
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments, Total | $ 6,200,000 | ||||||
Common Class B [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Common Stock, Shares, Outstanding | 11,330 | 211,330 | 11,330 | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 200,000 | ||||||
Common Class A [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Debt Instrument, Convertible, Conversion Price | $ 1.6483 | ||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 348,335 | ||||||
Available-for-sale Securities [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 1,500,000 | $ 1,500,000 | |||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 6,600,000 | 6,600,000 | $ 22,800,000 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 100,000 | 100,000 | 400,000 | ||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 13,100,000 | ||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 200,000 | 200,000 | |||||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 | |||||
Carrying Amount [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Securities pledged as collateral | 178,300,000 | 178,300,000 | |||||
Carrying Amount [Member] | Repurchase Agreement [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Securities pledged as collateral | 142,200,000 | 142,200,000 | |||||
Private Collateralized Securities [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 542,000,000 | 542,000,000 | |||||
Accumulated unrealized losses | 8,800,000 | 8,800,000 | |||||
Seasoned Residential Collateral Of Us Government Sponsored Entities [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 22,000,000 | 22,000,000 | |||||
Accumulated unrealized losses | $ 400,000 | $ 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, 2017 | Dec. 31, 2016 |
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | $ 997,155 | $ 960,809 |
Gross Unrealized Gains, Available for Sale | 6,902 | 3,767 |
Gross Unrealized Losses, Available for Sale | (7,258) | (14,073) |
Fair Value, Available for Sale | 996,799 | 950,503 |
Gross Amortized Cost, Held for Investment Securities | 374,773 | 372,498 |
Gross Unrealized Gains, Held for Investment Securities | 2,746 | 1,753 |
Gross Unrealized Losses, Held for Investment Securities | (2,558) | (4,370) |
Fair Value, Held for Investment Securities | 374,961 | 369,881 |
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 | 9,830 | 12,073 |
Gross Unrealized Gains, Available for Sale | 310 | 255 |
Gross Unrealized Losses, Available for Sale | 0 | 0 |
Fair Value, Available for Sale | 10,140 | 12,328 |
Mortgage-backed securities 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 | 284,015 | 287,726 |
Gross Unrealized Gains, Available for Sale | 1,245 | 585 |
Gross Unrealized Losses, Available for Sale | (2,298) | (4,823) |
Fair Value, Available for Sale | 282,962 | 283,488 |
Gross Amortized Cost, Held for Investment Securities | 179,437 | 159,941 |
Gross Unrealized Gains, Held for Investment Securities | 1,403 | 704 |
Gross Unrealized Losses, Held for Investment Securities | (996) | (1,243) |
Fair Value, Held for Investment Securities | 179,844 | 159,402 |
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 | 232,278 | 238,805 |
Gross Unrealized Gains, Available for Sale | 525 | 314 |
Gross Unrealized Losses, Available for Sale | (4,001) | (5,065) |
Fair Value, Available for Sale | 228,802 | 234,054 |
Gross Amortized Cost, Held for Investment Securities | 126,849 | 147,208 |
Gross Unrealized Gains, Held for Investment Securities | 462 | 386 |
Gross Unrealized Losses, Held for Investment Securities | (1,506) | (2,630) |
Fair Value, Held for Investment Securities | 125,805 | 144,964 |
Commercial mortgage backed securities 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 | 22,274 | 22,351 |
Gross Unrealized Gains, Available for Sale | 355 | 222 |
Gross Unrealized Losses, Available for Sale | (10) | (28) |
Fair Value, Available for Sale | 22,619 | 22,545 |
Gross Amortized Cost, Held for Investment Securities | 17,441 | 17,375 |
Gross Unrealized Gains, Held for Investment Securities | 645 | 233 |
Gross Unrealized Losses, Held for Investment Securities | 0 | (74) |
Fair Value, Held for Investment Securities | 18,086 | 17,534 |
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 | 32,928 | 32,780 |
Gross Unrealized Gains, Available for Sale | 925 | 0 |
Gross Unrealized Losses, Available for Sale | 0 | (791) |
Fair Value, Available for Sale | 33,853 | 31,989 |
Fair Value, Held for Investment Securities | 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 | 50,725 | 67,542 |
Gross Unrealized Gains, Available for Sale | 682 | 563 |
Gross Unrealized Losses, Available for Sale | (302) | (816) |
Fair Value, Available for Sale | 51,105 | 67,289 |
Gross Amortized Cost, Held for Investment Securities | 5,608 | 6,427 |
Gross Unrealized Gains, Held for Investment Securities | 8 | 0 |
Gross Unrealized Losses, Held for Investment Securities | (56) | (109) |
Fair Value, Held for Investment Securities | 5,560 | 6,318 |
Collateralized loan obligations [Member] | ||
Amortized cost and fair value of securities available for sale and held for investment | ||
Gross Amortized Cost, Available for Sale | 207,341 | 124,716 |
Gross Unrealized Gains, Available for Sale | 794 | 838 |
Gross Unrealized Losses, Available for Sale | (18) | (665) |
Fair Value, Available for Sale | 208,117 | 124,889 |
Gross Amortized Cost, Held for Investment Securities | 45,438 | 41,547 |
Gross Unrealized Gains, Held for Investment Securities | 228 | 430 |
Gross Unrealized Losses, Held for Investment Securities | 0 | (314) |
Fair Value, Held for Investment Securities | 45,666 | 41,663 |
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 | 59,495 | 63,161 |
Gross Unrealized Gains, Available for Sale | 1,065 | 622 |
Gross Unrealized Losses, Available for Sale | (375) | (895) |
Fair Value, Available for Sale | 60,185 | 62,888 |
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 | 70,083 | 74,121 |
Gross Unrealized Gains, Available for Sale | 803 | 257 |
Gross Unrealized Losses, Available for Sale | (89) | (517) |
Fair Value, Available for Sale | 70,797 | 73,861 |
Fair Value, Held for Investment Securities | 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 | 28,186 | 37,534 |
Gross Unrealized Gains, Available for Sale | 198 | 111 |
Gross Unrealized Losses, Available for Sale | (165) | (473) |
Fair Value, Available for Sale | 28,219 | $ 37,172 |
Fair Value, Held for Investment Securities | $ 0 |
SECURITIES - Amortized Cost a33
SECURITIES - Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | $ 374,773 | $ 372,498 |
Held for Investment, Fair Value, Total | 374,961 | 369,881 |
Available for Sale, Amortized Cost, Total | 997,155 | |
Available for Sale, Fair Value, Total | 996,799 | 950,503 |
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 | 6,103 | |
Available for Sale, Fair Value, Due in less than one year | 6,108 | |
Held for Investment, Amortized Cost, Due after one year through five years | 3,600 | |
Held for Investment, Fair Value, Due after one year through five years | 3,614 | |
Available for Sale, Amortized Cost, Due after one year through five years | 79,463 | |
Available for Sale, Fair Value, Due after one year through five years | 80,338 | |
Held for Investment, Amortized Cost, Due after five years through ten years | 41,838 | |
Held for Investment, Fair Value, Due after five years through ten years | 42,052 | |
Available for Sale, Amortized Cost, Due after five years through ten years | 224,255 | |
Available for Sale, Fair Value, Due after five years through ten years | 225,737 | |
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 | 26,525 | |
Available for Sale, Fair Value, Due after ten years | 26,635 | |
Held for Investment, Amortized Cost, Total | 45,438 | |
Held for Investment, Fair Value, Total | 45,666 | |
Available for Sale, Amortized Cost, Total | 336,346 | |
Available for Sale, Fair Value, Total | 338,818 | |
Mortgage-backed securities of U.S. Government Sponsored Entities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 179,437 | |
Held for Investment, Fair Value, Total | 179,844 | 159,402 |
Available for Sale, Amortized Cost, Total | 284,015 | |
Available for Sale, Fair Value, Total | 282,962 | 283,488 |
Collateralized Mortgage Obligations Of US Government Sponsored Entities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 126,849 | |
Held for Investment, Fair Value, Total | 125,805 | 144,964 |
Available for Sale, Amortized Cost, Total | 232,278 | |
Available for Sale, Fair Value, Total | 228,802 | 234,054 |
Commercial mortgage backed securities of U.S. Government Sponsored Entities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 17,441 | |
Held for Investment, Fair Value, Total | 18,086 | 17,534 |
Available for Sale, Amortized Cost, Total | 22,274 | |
Available for Sale, Fair Value, Total | 22,619 | 22,545 |
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 | 32,928 | |
Available for Sale, Fair Value, Total | 33,853 | 31,989 |
Private collateralized mortgage obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held for Investment, Amortized Cost, Total | 5,608 | |
Held for Investment, Fair Value, Total | 5,560 | 6,318 |
Available for Sale, Amortized Cost, Total | 50,725 | |
Available for Sale, Fair Value, Total | 51,105 | 67,289 |
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 | 10,403 | |
Available for Sale, Fair Value, Total | 70,797 | 73,861 |
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 | 28,186 | |
Available for Sale, Fair Value, Total | $ 28,219 | $ 37,172 |
SECURITIES - Schedule of Unreal
SECURITIES - Schedule of Unrealized Loss and Fair Value on Investments (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value | ||
Less than 12 months | $ 249,413 | $ 664,476 |
12 months or longer | 374,649 | 198,397 |
Total | 624,062 | 862,873 |
Unrealized Losses | ||
Less than 12 months | (2,537) | (13,451) |
12 months or longer | (7,279) | (4,992) |
Total | (9,816) | (18,443) |
Collateralized Loan Obligations [Member] | ||
Fair Value | ||
Less than 12 months | 21,998 | 8,152 |
12 months or longer | 0 | 51,694 |
Total | 21,998 | 59,846 |
Unrealized Losses | ||
Less than 12 months | (18) | (41) |
12 months or longer | 0 | (938) |
Total | (18) | (979) |
Mortgage-backed securities of U.S. Government Sponsored Entities [Member] | ||
Fair Value | ||
Less than 12 months | 152,796 | 327,759 |
12 months or longer | 109,433 | 5,387 |
Total | 262,229 | 333,146 |
Unrealized Losses | ||
Less than 12 months | (1,963) | (5,991) |
12 months or longer | (1,331) | (75) |
Total | (3,294) | (6,066) |
Collateralized Mortgage Obligations Of US Government Sponsored Entities [Member] | ||
Fair Value | ||
Less than 12 months | 51,067 | 234,175 |
12 months or longer | 225,546 | 58,912 |
Total | 276,613 | 293,087 |
Unrealized Losses | ||
Less than 12 months | (365) | (5,599) |
12 months or longer | (5,142) | (2,096) |
Total | (5,507) | (7,695) |
Commercial mortgage backed securities of U.S. Government Sponsored Entities [Member] | ||
Fair Value | ||
Less than 12 months | 3,111 | 7,934 |
12 months or longer | 0 | 0 |
Total | 3,111 | 7,934 |
Unrealized Losses | ||
Less than 12 months | (10) | (102) |
12 months or longer | 0 | 0 |
Total | (10) | (102) |
Private mortgage backed securities [Member] | ||
Fair Value | ||
Less than 12 months | 0 | 0 |
12 months or longer | 0 | 36,848 |
Total | 0 | 36,848 |
Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or longer | 0 | (900) |
Total | 0 | (900) |
Private collateralized mortgage obligations [Member] | ||
Fair Value | ||
Less than 12 months | 0 | 1,460 |
12 months or longer | 22,003 | 38,417 |
Total | 22,003 | 39,877 |
Unrealized Losses | ||
Less than 12 months | 0 | 0 |
12 months or longer | (358) | (816) |
Total | (358) | (816) |
Obligations of state and political subdivisions [Member] | ||
Fair Value | ||
Less than 12 months | 11,556 | 39,321 |
12 months or longer | 5,639 | 0 |
Total | 17,195 | 39,321 |
Unrealized Losses | ||
Less than 12 months | (86) | (895) |
12 months or longer | (289) | 0 |
Total | (375) | (895) |
Corporate and other debt securities [member] | ||
Fair Value | ||
Less than 12 months | 998 | 33,008 |
12 months or longer | 8,301 | 0 |
Total | 9,299 | 33,008 |
Unrealized Losses | ||
Less than 12 months | 0 | (517) |
12 months or longer | (89) | 0 |
Total | (89) | (517) |
Private commercial mortgage backed securities [Member] | ||
Fair Value | ||
Less than 12 months | 7,887 | 12,667 |
12 months or longer | 3,727 | 7,139 |
Total | 11,614 | 19,806 |
Unrealized Losses | ||
Less than 12 months | (95) | (306) |
12 months or longer | (70) | (167) |
Total | $ (165) | $ (473) |
LOANS - Additional Information
LOANS - Additional Information (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Deferred Costs, Noncurrent | $ 12.1 | $ 10.6 |
LOANS - Information Relating to
LOANS - Information Relating to Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | [1] | $ 3,384,991 | $ 2,879,536 |
Commercial and financial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 535,457 | 370,589 | |
Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 184,485 | 153,945 | |
Construction and land development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 245,151 | 160,116 | |
Commercial real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 1,478,092 | 1,357,592 | |
Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 941,169 | 836,787 | |
Other loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 637 | 507 | |
Portfolio Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | [1] | 2,837,490 | 2,425,850 |
Portfolio Loans [Member] | Commercial and financial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 476,511 | 308,731 | |
Portfolio Loans [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 180,467 | 152,927 | |
Portfolio Loans [Member] | Construction and land development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 200,860 | 137,480 | |
Portfolio Loans [Member] | Commercial real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 1,146,359 | 1,041,915 | |
Portfolio Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 832,656 | 784,290 | |
Portfolio Loans [Member] | Other loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 637 | 507 | |
PCI Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | [1] | 10,443 | 12,996 |
PCI Loans [Member] | Commercial and financial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 824 | 941 | |
PCI Loans [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 0 | 0 | |
PCI Loans [Member] | Construction and land development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 116 | 114 | |
PCI Loans [Member] | Commercial real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 8,975 | 11,257 | |
PCI Loans [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 528 | 684 | |
PCI Loans [Member] | Other loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 0 | 0 | |
PULs [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | [1] | 537,058 | 440,690 |
PULs [Member] | Commercial and financial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 58,122 | 60,917 | |
PULs [Member] | Consumer [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 4,018 | 1,018 | |
PULs [Member] | Construction and land development [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 44,175 | 22,522 | |
PULs [Member] | Commercial real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 322,758 | 304,420 | |
PULs [Member] | Residential real estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | 107,985 | 51,813 | |
PULs [Member] | Other loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
NET LOAN BALANCES | $ 0 | $ 0 | |
[1] | Net loan balances as of September 30, 2017 and December 31, 2016 include deferred costs of $12.1 million and $10.6 million respectively. |
LOANS - Summarizes Changes in T
LOANS - Summarizes Changes in Total Contractually Required Principal and Interest Cash Payments (Details) - Purchased Credit Impaired Loan [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
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 | $ 13,132 | $ 13,652 | $ 12,996 | $ 12,109 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 10,443 | 13,057 | 10,443 | 13,057 |
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 | 3,265 | 4,674 | 3,807 | 2,610 |
Additions | 0 | 0 | 0 | 2,094 |
Deletions | 0 | 0 | (10) | (15) |
Accretion | (357) | (492) | (1,173) | (1,499) |
Reclassifications from nonaccretable difference | 407 | 0 | 691 | 992 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,315 | 4,182 | 3,315 | 4,182 |
Recorded investment 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 | 13,132 | 13,652 | 12,996 | 12,109 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 10,443 | 13,057 | 10,443 | 13,057 |
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 | 0 | 0 | 0 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 0 | $ 0 | $ 0 | $ 0 |
LOANS - Contractual Aging of Re
LOANS - Contractual Aging of Recorded Investment in Past Due Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | $ 14,375 | $ 18,071 |
Current | 3,364,985 | 2,857,695 |
Total Financing Receivables | 3,384,991 | 2,879,536 |
Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 5,395 | 2,281 |
Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 236 | 1,489 |
Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 10,877 | 11,023 |
Current | 2,822,463 | 2,412,629 |
Total Financing Receivables | 2,837,490 | 2,425,850 |
Portfolio Loans [Member] | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 193 | 49 |
Current | 474,619 | 308,652 |
Total Financing Receivables | 476,511 | 308,731 |
Portfolio Loans [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 109 | 170 |
Current | 179,946 | 152,669 |
Total Financing Receivables | 180,467 | 152,927 |
Portfolio Loans [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,870 | 1,784 |
Current | 1,143,843 | 1,039,882 |
Total Financing Receivables | 1,146,359 | 1,041,915 |
Portfolio Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 4,027 | 1,707 |
Portfolio Loans [Member] | Accruing 30-59 Days Past Due | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,699 | 30 |
Portfolio Loans [Member] | Accruing 30-59 Days Past Due | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 396 | 29 |
Portfolio Loans [Member] | Accruing 30-59 Days Past Due | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 646 | 78 |
Portfolio Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 123 | 491 |
Portfolio Loans [Member] | Accruing 60-89 Days Past Due | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Portfolio Loans [Member] | Accruing 60-89 Days Past Due | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 16 | 59 |
Portfolio Loans [Member] | Accruing 60-89 Days Past Due | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 171 |
Portfolio Loans [Member] | Accruing Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Portfolio Loans [Member] | Accruing Greater Than 90 Days | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Portfolio Loans [Member] | Accruing Greater Than 90 Days | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Portfolio Loans [Member] | Accruing Greater Than 90 Days | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,299 | 2,763 |
Current | 533,278 | 436,540 |
Total Financing Receivables | 537,058 | 440,690 |
Purchased Unimpaired Loans [Member] | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 332 | 197 |
Current | 57,469 | 60,353 |
Total Financing Receivables | 58,122 | 60,917 |
Purchased Unimpaired Loans [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 4,018 | 981 |
Total Financing Receivables | 4,018 | 1,018 |
Purchased Unimpaired Loans [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 732 | 1,272 |
Current | 321,166 | 302,318 |
Total Financing Receivables | 322,758 | 304,420 |
Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,368 | 574 |
Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 321 | 39 |
Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 37 |
Purchased Unimpaired Loans [Member] | Accruing 30-59 Days Past Due | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 860 | 345 |
Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 113 | 813 |
Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 328 |
Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Unimpaired Loans [Member] | Accruing 60-89 Days Past Due | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 485 |
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 |
Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Unimpaired Loans [Member] | Accruing Greater Than 90 Days | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,199 | 4,285 |
Current | 9,244 | 8,526 |
Total Financing Receivables | 10,443 | 12,996 |
Purchased Credit Impaired Loans [Member] | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 824 | 941 |
Total Financing Receivables | 824 | 941 |
Purchased Credit Impaired Loans [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 0 | 0 |
Total Financing Receivables | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,199 | 4,285 |
Current | 7,776 | 6,972 |
Total Financing Receivables | 8,975 | 11,257 |
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 |
Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Accruing 30-59 Days Past Due | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
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 | 185 |
Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Accruing 60-89 Days Past Due | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
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 |
Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | Commercial and financial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Purchased Credit Impaired Loans [Member] | Accruing Greater Than 90 Days | Commercial real estate [Member] | ||
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 | 364 | 438 |
Current | 200,223 | 137,042 |
Total Financing Receivables | 200,860 | 137,480 |
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 | 273 | 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 | 72 | 32 |
Current | 44,068 | 22,490 |
Total Financing Receivables | 44,175 | 22,522 |
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 | 35 | 0 |
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 | 0 | 0 |
Current | 116 | 114 |
Total Financing Receivables | 116 | 114 |
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 | 941,169 | 836,787 |
Residential real estate [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 8,341 | 8,582 |
Current | 823,195 | 773,877 |
Total Financing Receivables | 832,656 | 784,290 |
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 | 1,013 | 1,570 |
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 | 107 | 261 |
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 | 0 |
Residential real estate [Member] | Purchased Unimpaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,163 | 1,262 |
Current | 106,557 | 50,398 |
Total Financing Receivables | 107,985 | 51,813 |
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 | 152 | 153 |
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 | 113 | 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 | 0 | 0 |
Residential real estate [Member] | Purchased Credit Impaired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 528 | 499 |
Total Financing Receivables | 528 | 684 |
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 | 0 |
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 | 185 |
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 | 0 |
Other [Member] | Portfolio Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 0 | 0 |
Current | 637 | 507 |
Total Financing Receivables | 637 | 507 |
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, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 3,384,991 | $ 2,879,536 |
Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 245,151 | 160,116 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,478,092 | 1,357,592 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 941,169 | 836,787 |
Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 535,457 | 370,589 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 185,122 | 154,452 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,302,442 | 2,797,806 |
Pass [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 232,183 | 148,563 |
Pass [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,442,538 | 1,319,696 |
Pass [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 917,500 | 811,576 |
Pass [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 527,190 | 364,241 |
Pass [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 183,031 | 153,730 |
Special mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 26,571 | 28,017 |
Special mention [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 8,844 | 5,037 |
Special mention [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,534 | 17,184 |
Special mention [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,317 | 1,780 |
Special mention [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,414 | 3,949 |
Special mention [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,462 | 67 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 25,422 | 17,931 |
Substandard [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,439 | 5,497 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 14,466 | 7,438 |
Substandard [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,966 | 2,709 |
Substandard [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,328 | 2,153 |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 223 | 134 |
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 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Nonaccrual [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 14,375 | 18,071 |
Nonaccrual [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 436 | 470 |
Nonaccrual [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,801 | 7,341 |
Nonaccrual [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,504 | 9,844 |
Nonaccrual [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 525 | 246 |
Nonaccrual [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 109 | 170 |
restructures [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,909 | 5,434 |
restructures [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 33 | 44 |
restructures [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,876 | 4,988 |
restructures [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 358 |
restructures [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
restructures [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 44 |
Troubled debt restructures [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 11,272 | 12,277 |
Troubled debt restructures [Member] | Construction & Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 216 | 505 |
Troubled debt restructures [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 877 | 945 |
Troubled debt restructures [Member] | Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 9,882 | 10,520 |
Troubled debt restructures [Member] | Commercial and Financial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 0 | 0 |
Troubled debt restructures [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 297 | $ 307 |
IMPAIRED LOANS AND ALLOWANCE 40
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Modifications [Line Items] | |||||
Troubled Debt Restructuring Outstanding | $ 16,200,000 | $ 16,200,000 | $ 17,700,000 | ||
Loans and Leases Receivable, Impaired, Interest Income Recognized, Change in Present Value Attributable to Passage of Time | 169,000 | $ 83,000 | 282,000 | $ 176,000 | |
Nonaccrual loans and loans past due ninety days | 14,375,000 | 14,375,000 | 18,071,000 | ||
Purchased Loans [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Nonaccrual loans and loans past due ninety days | 3,500,000 | 3,500,000 | 7,000,000 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 | 0 | ||
Nonaccrual [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Nonaccrual loans and loans past due ninety days | 10,900,000 | 10,900,000 | 11,000,000 | ||
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | $ 0 | 0 | 0 | ||
Loans [Member] | Bank shares, Inc [Member] | |||||
Financing Receivable, Modifications [Line Items] | |||||
Assets, Fair Value Adjustment | $ 15,600,000 | $ 13,700,000 | |||
Fair value adjustment Percent | 2.77% | 2.77% | 3.11% |
IMPAIRED LOANS AND ALLOWANCE 41
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Modified Loans (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017USD ($)Number | Sep. 30, 2016USD ($)Number | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Number | 2 | 6 |
Pre-Modification Outstanding Recorded Investment | $ 67 | $ 1,660 |
Post-Modification Outstanding Recorded Investment | 61 | 1,489 |
Valuation Allowance Recorded | $ 6 | $ 171 |
Construction and Land Development [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Number | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 52 | |
Post-Modification Outstanding Recorded Investment | 46 | |
Valuation Allowance Recorded | $ 6 | |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Number | 1 | 6 |
Pre-Modification Outstanding Recorded Investment | $ 15 | $ 1,660 |
Post-Modification Outstanding Recorded Investment | 15 | 1,489 |
Valuation Allowance Recorded | $ 0 | $ 171 |
IMPAIRED LOANS AND ALLOWANCE 42
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Company's Recorded Investments in Impaired Loans and the Related Valuation Allowances (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Recorded Investment | |||||
Total | $ 29,982 | $ 29,982 | $ 32,718 | ||
Unpaid Principal Balance | |||||
Total | 36,083 | 36,083 | 39,157 | ||
Related Valuation Allowance | |||||
Total | 2,070 | 2,070 | 2,454 | ||
Average Recorded Investment | |||||
Total | 30,251 | $ 30,759 | 31,205 | $ 31,662 | |
Interest Income Recognized | |||||
Total | 368 | 352 | 1,106 | 1,073 | |
Construction and Land Development [Member] | |||||
Recorded Investment | |||||
Impaired Loans with No Related Allowance Recorded | 397 | 397 | 226 | ||
Impaired Loans with an Allowance Recorded | 289 | 289 | 51 | ||
Total | 686 | 686 | 277 | ||
Unpaid Principal Balance | |||||
Impaired Loans with No Related Allowance Recorded | 702 | 702 | 321 | ||
Impaired Loans with an Allowance Recorded | 355 | 355 | 51 | ||
Total | 1,057 | 1,057 | 372 | ||
Related Valuation Allowance | |||||
Impaired Loans with No Related Allowance Recorded | 0 | 0 | 0 | ||
Impaired Loans with an Allowance Recorded | 91 | 91 | 0 | ||
Total | 91 | 91 | 0 | ||
Commercial Real Estate [Member] | |||||
Recorded Investment | |||||
Impaired Loans with No Related Allowance Recorded | 3,431 | 3,431 | 3,267 | ||
Impaired Loans with an Allowance Recorded | 4,931 | 4,931 | 6,937 | ||
Total | 8,362 | 8,362 | 10,204 | ||
Unpaid Principal Balance | |||||
Impaired Loans with No Related Allowance Recorded | 4,811 | 4,811 | 4,813 | ||
Impaired Loans with an Allowance Recorded | 4,939 | 4,939 | 6,949 | ||
Total | 9,750 | 9,750 | 11,762 | ||
Related Valuation Allowance | |||||
Impaired Loans with No Related Allowance Recorded | 0 | 0 | 0 | ||
Impaired Loans with an Allowance Recorded | 222 | 222 | 395 | ||
Total | 222 | 222 | 395 | ||
Average Recorded Investment | |||||
Total | 7,957 | 8,002 | 8,622 | 8,689 | |
Interest Income Recognized | |||||
Total | 131 | 95 | 317 | 290 | |
Residential Real Estate [Member] | |||||
Recorded Investment | |||||
Impaired Loans with No Related Allowance Recorded | 10,598 | 10,598 | 9,706 | ||
Impaired Loans with an Allowance Recorded | 8,773 | 8,773 | 12,332 | ||
Total | 19,371 | 19,371 | 22,038 | ||
Unpaid Principal Balance | |||||
Impaired Loans with No Related Allowance Recorded | 15,283 | 15,283 | 14,136 | ||
Impaired Loans with an Allowance Recorded | 8,970 | 8,970 | 12,681 | ||
Total | 24,253 | 24,253 | 26,817 | ||
Related Valuation Allowance | |||||
Impaired Loans with No Related Allowance Recorded | 0 | 0 | 0 | ||
Impaired Loans with an Allowance Recorded | 1,188 | 1,188 | 2,059 | ||
Total | 1,188 | 1,188 | 2,059 | ||
Average Recorded Investment | |||||
Total | 20,097 | 21,384 | 20,962 | 21,542 | |
Interest Income Recognized | |||||
Total | 213 | $ 240 | 707 | $ 728 | |
Commercial And Financial [Member] | |||||
Recorded Investment | |||||
Impaired Loans with No Related Allowance Recorded | 29 | 29 | 199 | ||
Impaired Loans with an Allowance Recorded | 1,127 | 1,127 | 0 | ||
Total | 1,156 | 1,156 | 199 | ||
Unpaid Principal Balance | |||||
Impaired Loans with No Related Allowance Recorded | 39 | 39 | 206 | ||
Impaired Loans with an Allowance Recorded | 501 | 501 | 0 | ||
Total | 540 | 540 | 206 | ||
Related Valuation Allowance | |||||
Impaired Loans with No Related Allowance Recorded | 0 | 0 | 0 | ||
Impaired Loans with an Allowance Recorded | 521 | 521 | 0 | ||
Total | 521 | 521 | 0 | ||
Consumer [Member] | |||||
Recorded Investment | |||||
Impaired Loans with No Related Allowance Recorded | 117 | 117 | 0 | ||
Impaired Loans with an Allowance Recorded | 290 | 290 | 0 | ||
Total | 407 | 407 | 0 | ||
Unpaid Principal Balance | |||||
Impaired Loans with No Related Allowance Recorded | 191 | 191 | 0 | ||
Impaired Loans with an Allowance Recorded | 292 | 292 | 0 | ||
Total | 483 | 483 | 0 | ||
Related Valuation Allowance | |||||
Impaired Loans with No Related Allowance Recorded | 0 | 0 | 0 | ||
Impaired Loans with an Allowance Recorded | 48 | 48 | 0 | ||
Total | $ 48 | $ 48 | $ 0 |
IMPAIRED LOANS AND ALLOWANCE 43
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Average Recorded Investment | ||||
Total | $ 30,251 | $ 30,759 | $ 31,205 | $ 31,662 |
Interest Income Recognized | ||||
Total | 368 | 352 | 1,106 | 1,073 |
Commercial Real Estate [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 3,004 | 1,437 | 2,833 | 1,854 |
Impaired Loans with an Allowance Recorded | 4,953 | 6,565 | 5,789 | 6,835 |
Total | 7,957 | 8,002 | 8,622 | 8,689 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 75 | 31 | 154 | 97 |
Impaired Loans with an Allowance Recorded | 56 | 64 | 163 | 193 |
Total | 131 | 95 | 317 | 290 |
Residential Real Estate [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 10,266 | 9,346 | 9,933 | 9,444 |
Impaired Loans with an Allowance Recorded | 9,831 | 12,038 | 11,029 | 12,098 |
Total | 20,097 | 21,384 | 20,962 | 21,542 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 150 | 138 | 447 | 406 |
Impaired Loans with an Allowance Recorded | 63 | 102 | 260 | 322 |
Total | 213 | 240 | 707 | 728 |
Construction and Land Development [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 517 | 208 | 460 | 188 |
Impaired Loans with an Allowance Recorded | 333 | 609 | 242 | 671 |
Total | 850 | 817 | 702 | 859 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 13 | 3 | 35 | 11 |
Impaired Loans with an Allowance Recorded | 2 | 7 | 8 | 20 |
Total | 15 | 10 | 43 | 31 |
Commercial And Financial [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 244 | 16 | 183 | 16 |
Impaired Loans with an Allowance Recorded | 646 | 0 | 378 | 0 |
Total | 890 | 16 | 561 | 16 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 1 | 0 | 3 | 0 |
Impaired Loans with an Allowance Recorded | 2 | 0 | 14 | 0 |
Total | 3 | 0 | 17 | 0 |
Consumer Portfolio Segment [Member] | ||||
Average Recorded Investment | ||||
Impaired Loans with No Related Allowance Recorded | 124 | 157 | 111 | 193 |
Impaired Loans with an Allowance Recorded | 333 | 383 | 247 | 363 |
Total | 457 | 540 | 358 | 556 |
Interest Income Recognized | ||||
Impaired Loans with No Related Allowance Recorded | 3 | 3 | 10 | 10 |
Impaired Loans with an Allowance Recorded | 3 | 4 | 12 | 14 |
Total | $ 6 | $ 7 | $ 22 | $ 24 |
IMPAIRED LOANS AND ALLOWANCE 44
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, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Allowance for Loan Losses: | ||||
Beginning Balance | $ 26,000 | $ 20,725 | $ 23,400 | $ 19,128 |
Provision for Loan Losses | 680 | 550 | 3,385 | 1,411 |
Charge-Offs | (1,310) | (296) | (2,416) | (697) |
Recoveries | 1,031 | 1,788 | 2,145 | 3,018 |
TDR Valuation Adjustments | (169) | (83) | (282) | (176) |
Ending Balance | 26,232 | 22,684 | 26,232 | 22,684 |
Construction and Land Development [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 1,574 | 1,160 | 1,219 | 1,151 |
Provision for Loan Losses | (690) | 50 | (496) | (125) |
Charge-Offs | 0 | 0 | 0 | 0 |
Recoveries | 728 | 25 | 891 | 214 |
TDR Valuation Adjustments | 0 | (2) | (2) | (7) |
Ending Balance | 1,612 | 1,233 | 1,612 | 1,233 |
Commercial Real Estate [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 9,923 | 7,192 | 9,273 | 6,756 |
Provision for Loan Losses | 62 | 1,505 | 410 | 2,025 |
Charge-Offs | (239) | (78) | (341) | (209) |
Recoveries | 175 | 169 | 613 | 271 |
TDR Valuation Adjustments | (15) | (55) | (49) | (110) |
Ending Balance | 9,906 | 8,733 | 9,906 | 8,733 |
Residential Real Estate [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 7,423 | 8,299 | 7,483 | 8,057 |
Provision for Loan Losses | 116 | (637) | 90 | (626) |
Charge-Offs | (296) | 0 | (482) | (135) |
Recoveries | 39 | 272 | 266 | 669 |
TDR Valuation Adjustments | (148) | (25) | (223) | (56) |
Ending Balance | 7,134 | 7,909 | 7,134 | 7,909 |
Commercial And Financial [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 5,460 | 2,591 | 3,636 | 2,042 |
Provision for Loan Losses | 834 | (633) | 3,036 | (524) |
Charge-Offs | (333) | (200) | (837) | (255) |
Recoveries | 28 | 1,278 | 154 | 1,773 |
TDR Valuation Adjustments | 0 | 0 | 0 | 0 |
Ending Balance | 5,989 | 3,036 | 5,989 | 3,036 |
Consumer [Member] | ||||
Allowance for Loan Losses: | ||||
Beginning Balance | 1,620 | 1,483 | 1,789 | 1,122 |
Provision for Loan Losses | 358 | 265 | 345 | 661 |
Charge-Offs | (442) | (18) | (756) | (98) |
Recoveries | 61 | 44 | 221 | 91 |
TDR Valuation Adjustments | (6) | (1) | (8) | (3) |
Ending Balance | $ 1,591 | $ 1,773 | $ 1,591 | $ 1,773 |
IMPAIRED LOANS AND ALLOWANCE 45
IMPAIRED LOANS AND ALLOWANCE FOR LOAN LOSSES - Loan Portfolio and Related Allowance (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Carrying Value | ||
Individually Evaluated for Impairment | $ 29,982 | $ 32,718 |
Collectively Evaluated for Impairment | 24,162 | 20,946 |
Total | 3,374,548 | 2,866,540 |
Associated Allowance | ||
Individually Evaluated for Impairment | 2,070 | 2,454 |
Collectively Evaluated for Impairment | 3,344,566 | 2,833,822 |
Total | 26,232 | 23,400 |
PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 10,443 | 12,996 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Construction and Land Development [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 686 | 277 |
Collectively Evaluated for Impairment | 1,521 | 1,219 |
Total | 245,035 | 160,116 |
Associated Allowance | ||
Individually Evaluated for Impairment | 91 | 0 |
Collectively Evaluated for Impairment | 244,349 | 159,839 |
Total | 1,612 | 1,219 |
Construction and Land Development [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 116 | 114 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Commercial Real Estate [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 8,362 | 10,204 |
Collectively Evaluated for Impairment | 9,684 | 8,878 |
Total | 1,469,117 | 1,346,036 |
Associated Allowance | ||
Individually Evaluated for Impairment | 222 | 395 |
Collectively Evaluated for Impairment | 1,460,755 | 1,335,832 |
Total | 9,906 | 9,273 |
Commercial Real Estate [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 8,975 | 11,257 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Residential Real Estate [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 19,371 | 22,038 |
Collectively Evaluated for Impairment | 5,946 | 5,424 |
Total | 940,641 | 836,288 |
Associated Allowance | ||
Individually Evaluated for Impairment | 1,188 | 2,059 |
Collectively Evaluated for Impairment | 921,270 | 814,250 |
Total | 7,134 | 7,483 |
Residential Real Estate [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 528 | 684 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Commercial And Financial [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 1,156 | 199 |
Collectively Evaluated for Impairment | 5,468 | 3,636 |
Total | 534,633 | 369,648 |
Associated Allowance | ||
Individually Evaluated for Impairment | 521 | 0 |
Collectively Evaluated for Impairment | 533,477 | 369,449 |
Total | 5,989 | 3,636 |
Commercial And Financial [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 824 | 941 |
Associated Allowance | ||
Individually Evaluated for Impairment | 0 | 0 |
Consumer [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 407 | 0 |
Collectively Evaluated for Impairment | 1,543 | 1,789 |
Total | 185,122 | 154,452 |
Associated Allowance | ||
Individually Evaluated for Impairment | 48 | 0 |
Collectively Evaluated for Impairment | 184,715 | 154,452 |
Total | 1,591 | 1,789 |
Consumer [Member] | PCI Loans [Member] | ||
Carrying Value | ||
Individually Evaluated for Impairment | 0 | 0 |
Associated Allowance | ||
Individually Evaluated for Impairment | $ 0 | $ 0 |
SECURITIES SOLD UNDER AGREEME46
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE - Schedule Of Securities Financing Transactions (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Mortgage-backed securities of U.S. Government Sponsored Entities [Member] | ||
Securities Financing Transaction [Line Items] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | $ 142,153 | $ 204,202 |
NONINTEREST INCOME AND EXPENS47
NONINTEREST INCOME AND EXPENSES - Summary of Noninterest Income and Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Noninterest income | ||||
Service charges on deposits | $ 2,626 | $ 2,698 | $ 7,483 | $ 7,057 |
Trust income | 967 | 820 | 2,764 | 2,464 |
Mortgage banking fees | 2,138 | 1,885 | 4,962 | 4,248 |
Brokerage commissions and fees | 351 | 463 | 1,079 | 1,564 |
Marine finance fees | 137 | 138 | 597 | 558 |
Interchange income | 2,582 | 2,306 | 7,747 | 6,893 |
Other deposit-based EFT fees | 100 | 109 | 354 | 352 |
BOLI income | 836 | 382 | 2,326 | 1,602 |
Other income | 1,744 | 963 | 4,541 | 2,767 |
Noninterest Income | 11,481 | 9,764 | 31,853 | 27,505 |
Securities gains (losses), net | (47) | 225 | (26) | 361 |
TOTAL | 11,434 | 9,989 | 31,827 | 27,866 |
Noninterest expense | ||||
Salaries and wages | 15,627 | 14,337 | 49,371 | 41,620 |
Employee benefits | 2,917 | 2,425 | 8,920 | 7,428 |
Outsourced data processing costs | 3,231 | 3,198 | 9,956 | 10,440 |
Telephone/data lines | 573 | 539 | 1,753 | 1,606 |
Occupancy | 2,447 | 3,675 | 10,025 | 10,292 |
Furniture and equipment | 1,191 | 1,228 | 4,261 | 3,509 |
Marketing | 1,298 | 780 | 3,294 | 2,786 |
Legal and professional fees | 2,560 | 2,213 | 7,968 | 7,226 |
FDIC assessments | 548 | 517 | 1,768 | 1,704 |
Amortization of intangibles | 839 | 728 | 2,397 | 1,767 |
Asset dispositions expense | 117 | 219 | 306 | 469 |
Net loss (gain) on other real estate owned and repossessed assets | (414) | (96) | (599) | (348) |
Early redemption cost for Federal Home Loan Bank borrowings | 0 | 0 | 0 | 1,777 |
Other | 3,427 | 3,672 | 11,312 | 10,308 |
TOTAL | $ 34,361 | $ 33,435 | $ 110,732 | $ 100,584 |
EQUITY CAPITAL - Additional Inf
EQUITY CAPITAL - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | |
Feb. 21, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | |
Class of Stock [Line Items] | |||
Proceeds from Issuance of Common Stock | $ 55,700 | $ 55,641 | $ 0 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | ||
Stock Issued During Period, Shares, New Issues | 2,702,500 | ||
CapGen Capital Group III LP [Member] | |||
Class of Stock [Line Items] | |||
Sale of Stock, Number of Shares Issued in Transaction | 6,210,000 |
FAIR VALUE - Additional Informa
FAIR VALUE - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | ||
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] | $ 400 | ||||||
Capitalization Rates Utilized To Determine Fair Value Of Underlying Collateral Averaged Percentage | 7.70% | 7.70% | ||||||
Loans and Leases Receivable, Allowance | $ 26,232 | $ 26,232 | $ 26,000 | $ 23,400 | $ 22,684 | $ 20,725 | $ 19,128 | |
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 | 800 | |||||||
Other Real Estate Owned And Other Reductions | 600 | 600 | ||||||
Other Real Estate Owned [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Other Real Estate Revenue | 4,200 | |||||||
Loans Receivable, Fair Value Disclosure | 4,200 | 4,200 | 4,100 | |||||
Loans and Leases Receivable, Allowance | 1,400 | 1,400 | $ 400 | |||||
Other Real Estate, Disposals | 4,400 | |||||||
Other Real Estate, Improvements | $ 6,000 | $ 1,200 | ||||||
[1] | See Note D for further detail of fair value of individual investment categories. |
FAIR VALUE - Fair Value Measure
FAIR VALUE - Fair Value Measurements for Items Measured at Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | $ 29,447 | $ 15,332 | |
Other real estate owned | 7,142 | 9,949 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale securities | [1] | 996,799 | 950,503 |
Loans held for sale | [2] | 29,447 | 15,332 |
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] | 100 | 100 |
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] | 996,699 | 950,403 |
Loans held for sale | [2] | 29,447 | 15,332 |
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] | 4,160 | 4,120 |
Other real estate owned | [4] | 7,142 | 9,949 |
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] | 2,973 | 3,170 |
Other real estate owned | [4] | 0 | 0 |
Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans | [3] | 1,187 | 950 |
Other real estate owned | [4] | $ 7,142 | $ 9,949 |
[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, 2017 | Dec. 31, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities held to maturity | $ 374,773 | $ 372,498 | |
Loans, net | 3,358,759 | 2,856,136 | |
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 |
Time deposits with other banks | 0 | ||
Loans, net | 0 | 0 | |
Deposit liabilities | 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] | 374,961 | 369,881 |
Time deposits with other banks | 0 | ||
Loans, net | 0 | 0 | |
Deposit liabilities | 0 | 0 | |
Subordinated debt | 55,072 | 54,908 | |
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 |
Time deposits with other banks | 14,557 | ||
Loans, net | 3,328,023 | 2,840,993 | |
Deposit liabilities | 4,110,324 | 3,523,322 | |
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] | 374,773 | 372,498 |
Time deposits with other banks | 14,591 | ||
Loans, net | 3,345,978 | 2,852,016 | |
Deposit liabilities | 4,112,600 | 3,523,245 | |
Subordinated debt | $ 70,451 | $ 70,241 | |
[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, 2017 | Dec. 31, 2016 | |
Aggregate fair value | $ 29,447 | $ 15,332 |
Contractual balance | 28,782 | 14,904 |
Gains | $ 665 | $ 428 |
BUSINESS COMBINATIONS - Additio
BUSINESS COMBINATIONS - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions | Nov. 03, 2017 | Apr. 07, 2017 | Mar. 11, 2016 | Oct. 20, 2017 | Jun. 30, 2017 | Sep. 30, 2017 | Jun. 03, 2016 |
Business Acquisition [Line Items] | |||||||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Deposit Premium Percentage | 3.00% | ||||||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loan Held For Sale | $ 314 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | $ 63 | ||||||
Business Acquisition Intangible Assets Expected Tax Deductible Amount | $ 13 | ||||||
Business Acquisition Intangible Assets Tax Deductible Period | 15 years | ||||||
Business Loan Premium | 0.50% | ||||||
Payments for Merger Related Costs | $ 4.3 | ||||||
Subsequent Event [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Share Price | $ 0 | ||||||
Floridian Financial Group [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | $ 417 | ||||||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Deposits | 337 | ||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Noncurrent Assets Loans | 266 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Description | Under the terms of the definitive agreement, Floridian shareholders received, 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 equaled 35% cash and 65% Seacoast shares (based on Seacoast’s closing price of $15.47 per share on March 11, 2016). | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount | $ 32 | ||||||
Gulf Shore Banc shares Inc [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Description | Under the terms of the definitive agreement, GulfShore shareholders received, for each share of Gulfshore common stock, the combination of $1.47 in cash and 0.4807 shares of Seacoast common stock (based on Seacoast’s closing price of $23.94 per share on April 7, 2017). | ||||||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount | $ 37 | ||||||
Gulf Shore Banc shares Inc [Member] | Common Stock [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
Palm Beach Community Bank [Member] | Subsequent Event [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Description | Under the terms of the definitive agreement, PBCB shareholders received, for each share of PBCB stock, the combination of $6.26 in cash and 0.9240 shares of Seacoast common stock. | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
NorthStar Bank [Member] | Subsequent Event [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Description | Under the terms of the definitive agreement, NSBC shareholders received, for each share of NSBC common stock, the combination of $2.40 in cash and 0.5605 shares of Seacoast common stock | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% |
BUSINESS COMBINATIONS - Purchas
BUSINESS COMBINATIONS - Purchase Price (Details) | Nov. 03, 2017USD ($)$ / sharesshares | Apr. 07, 2017USD ($)$ / sharesshares | Mar. 11, 2016USD ($)$ / sharesshares | Oct. 20, 2017USD ($)$ / sharesshares | Sep. 30, 2017shares | Dec. 31, 2016shares |
Business Acquisition [Line Items] | ||||||
Number of NorthStar Banking Corporation common shares outstanding | shares | 43,512,179 | 38,021,835 | ||||
Floridian Financial Group [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Shares exchanged for cash | $ 26,699,000 | |||||
Number of GulfShore Bancshares, Inc. common shares outstanding | shares | 6,222,119 | |||||
Per share exchange ratio | 0.5289 | |||||
Number of shares of Seacoast common stock issued | shares | 3,291,066 | |||||
Multiplied by common stock price per share | $ / shares | $ 15.47 | |||||
Value of common stock issued | $ 50,912,791 | |||||
Total purchase price | $ 77,611,791 | |||||
Gulf Shore Banc shares Inc [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Shares exchanged for cash | $ 8,033,999 | |||||
Number of GulfShore Bancshares, Inc. common shares outstanding | shares | 5,464,308 | |||||
Per share exchange ratio | 0.4807 | |||||
Number of shares of Seacoast common stock issued | shares | 2,626,693 | |||||
Multiplied by common stock price per share | $ / shares | $ 23.94 | |||||
Value of common stock issued | $ 62,883,030 | |||||
Total purchase price | $ 70,917,029 | |||||
NorthStar Bank [Member] | Subsequent Event [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Shares exchanged for cash | $ 4,700,129 | |||||
Number of NorthStar Banking Corporation common shares outstanding | shares | 1,958,387 | |||||
Per share exchange ratio | 0.5605 | |||||
Number of shares of Seacoast common stock issued | shares | 1,097,675 | |||||
Multiplied by common stock price per share | $ / shares | $ 24.92 | |||||
Value of common stock issued | $ 27,354,061 | |||||
Cash paid for NorthStar Banking vested Corporation stock options | 801,168 | |||||
Total purchase price | $ 32,855,358 | |||||
Palm Beach Community Bank [Member] | Subsequent Event [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Shares exchanged for cash | $ 15,693,929 | |||||
Number of NorthStar Banking Corporation common shares outstanding | shares | 2,506,867 | |||||
Per share exchange ratio | 0.9240 | |||||
Number of shares of Seacoast common stock issued | shares | 2,316,345 | |||||
Multiplied by common stock price per share | $ / shares | $ 24.31 | |||||
Value of common stock issued | $ 56,310,350 | |||||
Total purchase price | $ 72,004,279 |
BUSINESS COMBINATIONS - fair va
BUSINESS COMBINATIONS - fair value of the assets purchased, including goodwill, and liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Apr. 07, 2017 | Dec. 31, 2016 | Jun. 03, 2016 | Mar. 11, 2016 |
Assets: | |||||
Loans, net | $ 314,000 | ||||
Goodwill | $ 101,747 | $ 64,649 | |||
Liabilities: | |||||
Deposits | 63,000 | ||||
Measurement Period Adjustments [Member] | |||||
Assets: | |||||
Total assets acquired | 0 | ||||
Liabilities: | |||||
Total liabilities assumed | 0 | $ 0 | |||
Scenario, Previously Reported [Member] | |||||
Assets: | |||||
Total assets acquired | 314,300 | ||||
Liabilities: | |||||
Total liabilities assumed | 314,300 | ||||
Restatement Adjustment [Member] | |||||
Assets: | |||||
Total assets acquired | 314,300 | 417,444 | |||
Liabilities: | |||||
Total liabilities assumed | 314,300 | 339,833 | |||
Bank shares, Inc [Member] | Measurement Period Adjustments [Member] | |||||
Assets: | |||||
Cash | 0 | ||||
Investment securities | 95 | ||||
Loans, net | (2,112) | ||||
Fixed assets | (628) | ||||
Core deposit intangibles | 0 | ||||
Goodwill | 1,647 | ||||
Other assets | 998 | ||||
Total assets acquired | 0 | ||||
Liabilities: | |||||
Deposits | 0 | ||||
Other liabilities | 0 | ||||
Bank shares, Inc [Member] | Scenario, Previously Reported [Member] | |||||
Assets: | |||||
Cash | 28,243 | ||||
Investment securities | 66,912 | ||||
Loans, net | 268,249 | ||||
Fixed assets | 7,801 | ||||
Core deposit intangibles | 3,375 | ||||
Goodwill | 29,985 | ||||
Other assets | 12,879 | ||||
Total assets acquired | 417,444 | ||||
Liabilities: | |||||
Deposits | 337,341 | ||||
Other liabilities | 2,492 | ||||
Total liabilities assumed | 339,833 | ||||
Bank shares, Inc [Member] | Restatement Adjustment [Member] | |||||
Assets: | |||||
Cash | 28,243 | ||||
Investment securities | 67,007 | ||||
Loans, net | 266,137 | ||||
Fixed assets | 7,173 | ||||
Core deposit intangibles | 3,375 | ||||
Goodwill | 31,632 | ||||
Other assets | 13,877 | ||||
Liabilities: | |||||
Deposits | 337,341 | ||||
Other liabilities | $ 2,492 | ||||
BMO Harris Bank [Member] | Measurement Period Adjustments [Member] | |||||
Assets: | |||||
Cash | 0 | ||||
Loans, net | 0 | ||||
Fixed assets | 0 | ||||
Core deposit intangibles | (135) | ||||
Goodwill | 163 | ||||
Other assets | (28) | ||||
Liabilities: | |||||
Deposits | 0 | ||||
Other liabilities | 0 | ||||
BMO Harris Bank [Member] | Scenario, Previously Reported [Member] | |||||
Assets: | |||||
Cash | 234,094 | ||||
Loans, net | 62,671 | ||||
Fixed assets | 3,715 | ||||
Core deposit intangibles | 5,223 | ||||
Goodwill | 7,645 | ||||
Other assets | 952 | ||||
Liabilities: | |||||
Deposits | 314,248 | ||||
Other liabilities | 52 | ||||
BMO Harris Bank [Member] | Restatement Adjustment [Member] | |||||
Assets: | |||||
Cash | 234,094 | ||||
Loans, net | 62,671 | ||||
Fixed assets | 3,715 | ||||
Core deposit intangibles | 5,088 | ||||
Goodwill | 7,808 | ||||
Other assets | 924 | ||||
Liabilities: | |||||
Deposits | 314,248 | ||||
Other liabilities | $ 52 | ||||
Gulf Shore Banc shares Inc [Member] | Measurement Period Adjustments [Member] | |||||
Assets: | |||||
Cash | $ 0 | ||||
Investment securities | 0 | ||||
Loans, net | (8) | ||||
Fixed assets | 0 | ||||
Other real estate owned | 0 | ||||
Core deposit intangibles | 0 | ||||
Goodwill | 8 | ||||
Other assets | 0 | ||||
Total assets acquired | 0 | ||||
Liabilities: | |||||
Deposits | 0 | ||||
Other liabilities | 0 | ||||
Total liabilities assumed | 0 | ||||
Gulf Shore Banc shares Inc [Member] | Scenario, Previously Reported [Member] | |||||
Assets: | |||||
Cash | 55,540 | ||||
Investment securities | 316 | ||||
Loans, net | 250,884 | ||||
Fixed assets | 1,307 | ||||
Other real estate owned | 13 | ||||
Core deposit intangibles | 3,927 | ||||
Goodwill | 37,090 | ||||
Other assets | 8,572 | ||||
Total assets acquired | 357,649 | ||||
Liabilities: | |||||
Deposits | 285,350 | ||||
Other liabilities | 1,382 | ||||
Total liabilities assumed | 286,732 | ||||
Gulf Shore Banc shares Inc [Member] | Restatement Adjustment [Member] | |||||
Assets: | |||||
Cash | 55,540 | ||||
Investment securities | 316 | ||||
Loans, net | 250,876 | ||||
Fixed assets | 1,307 | ||||
Other real estate owned | 13 | ||||
Core deposit intangibles | 3,927 | ||||
Goodwill | 37,098 | ||||
Other assets | 8,572 | ||||
Total assets acquired | 357,649 | ||||
Liabilities: | |||||
Deposits | 285,350 | ||||
Other liabilities | 1,382 | ||||
Total liabilities assumed | $ 286,732 |
BUSINESS COMBINATIONS - fair 56
BUSINESS COMBINATIONS - fair value of acquired loans (Details) - USD ($) $ in Thousands | Apr. 07, 2017 | Jun. 03, 2016 | Mar. 11, 2016 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 280,022 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 266,137 | ||
Commercial Real Estate [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 172,531 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 167,105 | ||
Commercial Loan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 39,070 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 37,804 | ||
Single Family Residential Real Estate [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 38,304 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 37,367 | ||
Construction Development Land [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 20,546 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 18,108 | ||
Consumer And Other Loans [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,385 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 3,110 | ||
Purchased Credit Impaired [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 6,186 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 2,643 | ||
BMO Harris Bank [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 256,876 | $ 64,043 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 250,876 | 62,671 | |
BMO Harris Bank [Member] | Commercial Real Estate [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 106,729 | 31,564 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 103,905 | 31,200 | |
BMO Harris Bank [Member] | Commercial Loan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 32,137 | 32,479 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 32,247 | 31,471 | |
BMO Harris Bank [Member] | Single Family Residential Real Estate [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 101,281 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 99,598 | ||
BMO Harris Bank [Member] | Construction Development Land [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 13,175 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 11,653 | ||
BMO Harris Bank [Member] | Consumer And Other Loans [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,554 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | 3,473 | ||
BMO Harris Bank [Member] | Purchased Credit Impaired [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 | 0 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 0 | $ 0 |
BUSINESS COMBINATIONS - purch57
BUSINESS COMBINATIONS - purchased credit impaired loans (Details) $ in Thousands | Mar. 11, 2016USD ($) |
Total purchased credit-impaired loan acquired | $ 266,137 |
Floridian Financial Group [Member] | |
Contractually required principal and interest | 8,031 |
Non-accretable difference | (4,820) |
Cash flows expected to be collected | 3,211 |
Accretable yield | (568) |
Total purchased credit-impaired loan acquired | $ 2,643 |
BUSINESS COMBINATIONS - Pro-for
BUSINESS COMBINATIONS - Pro-forma information (Details) - Gulf Shore Banc shares Inc [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Business Acquisition [Line Items] | |||
Net interest income | $ 40,102 | $ 131,178 | $ 109,738 |
Net income | $ 9,798 | $ 30,884 | $ 20,364 |
EPS - basic (in dollars per share) | $ 0.24 | $ 0.73 | $ 0.52 |
EPS - diluted (in dollars per share) | $ 0.24 | $ 0.72 | $ 0.51 |