Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Trading Symbol | 'BANF | ' |
Entity Registrant Name | 'BANCFIRST CORP /OK/ | ' |
Entity Central Index Key | '0000760498 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 15,423,103 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
ASSETS | ' | ' | ' |
Cash and due from banks | $233,627 | $196,547 | $191,734 |
Interest-bearing deposits with banks | 1,622,810 | 1,660,988 | 1,528,505 |
Securities (fair value: $570,518, $527,735, and $520,567, respectively) | 570,429 | 527,627 | 520,424 |
Loans: | ' | ' | ' |
Total loans (net of unearned interest) | 3,665,908 | 3,387,146 | 3,245,084 |
Allowance for loan losses | -43,297 | -39,034 | -38,982 |
Loans, net | 3,622,611 | 3,348,112 | 3,206,102 |
Premises and equipment, net | 121,559 | 117,862 | 117,621 |
Other real estate owned | 6,114 | 8,149 | 7,992 |
Intangible assets, net | 11,574 | 10,273 | 11,100 |
Goodwill | 44,962 | 44,545 | 44,545 |
Accrued interest receivable and other assets | 134,947 | 124,871 | 121,643 |
Total assets | 6,368,633 | 6,038,974 | 5,749,666 |
Deposits: | ' | ' | ' |
Noninterest-bearing | 2,205,257 | 2,085,753 | 1,955,723 |
Interest-bearing | 3,516,336 | 3,333,766 | 3,194,688 |
Total deposits | 5,721,593 | 5,419,519 | 5,150,411 |
Short-term borrowings | 12,317 | 4,590 | 3,522 |
Long-term borrowings | ' | 6,938 | 9,964 |
Accrued interest payable and other liabilities | 27,414 | 24,126 | 24,004 |
Junior subordinated debentures | 26,804 | 26,804 | 26,804 |
Total liabilities | 5,788,128 | 5,481,977 | 5,214,705 |
Commitments and contingent liabilities | ' | ' | ' |
Stockholders' equity: | ' | ' | ' |
Common stock, $1.00 par, 20,000,000 shares authorized; shares issued and outstanding: 15,398,603, 15,333,622 and 15,255,864, respectively | 15,399 | 15,334 | 15,256 |
Capital surplus | 91,447 | 88,803 | 84,360 |
Retained earnings | 468,761 | 448,953 | 431,120 |
Accumulated other comprehensive income, net of income tax of $3,090, $2,103 and $2,275, respectively | 4,898 | 3,907 | 4,225 |
Total stockholders' equity | 580,505 | 556,997 | 534,961 |
Total liabilities and stockholders' equity | 6,368,633 | 6,038,974 | 5,749,666 |
Senior preferred stock [Member] | ' | ' | ' |
Stockholders' equity: | ' | ' | ' |
Preferred stock, value | 0 | 0 | 0 |
Cumulative preferred stock [Member] | ' | ' | ' |
Stockholders' equity: | ' | ' | ' |
Preferred stock, value | $0 | $0 | $0 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | |||
Securities, fair value | $570,518 | $527,735 | $520,567 |
Common stock, par value | $1 | $1 | $1 |
Common stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 |
Common stock, shares issued | 15,398,603 | 15,333,622 | 15,255,864 |
Common stock, shares outstanding | 15,398,603 | 15,333,622 | 15,255,864 |
Accumulated other comprehensive income, tax | $3,090 | $2,103 | $2,275 |
Senior preferred stock [Member] | ' | ' | ' |
Preferred stock, par value | $1 | $1 | $1 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 | 0 |
Cumulative preferred stock [Member] | ' | ' | ' |
Preferred stock, par value | $5 | $5 | $5 |
Preferred stock, shares authorized | 900,000 | 900,000 | 900,000 |
Preferred stock, shares issued | 0 | 0 | 0 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
INTEREST INCOME | ' | ' | ' | ' |
Loans, including fees | $45,855 | $41,493 | $88,504 | $82,667 |
Securities: | ' | ' | ' | ' |
Taxable | 1,502 | 1,295 | 2,807 | 2,648 |
Tax-exempt | 273 | 314 | 553 | 660 |
Federal funds sold | ' | 1 | 1 | 2 |
Interest-bearing deposits with banks | 1,096 | 970 | 2,190 | 1,947 |
Total interest income | 48,726 | 44,073 | 94,055 | 87,924 |
INTEREST EXPENSE | ' | ' | ' | ' |
Deposits | 2,733 | 2,889 | 5,522 | 5,929 |
Short-term borrowings | 5 | 1 | 7 | 3 |
Long-term borrowings | 7 | 62 | 25 | 124 |
Junior subordinated debentures | 492 | 491 | 983 | 982 |
Total interest expense | 3,237 | 3,443 | 6,537 | 7,038 |
Net interest income | 45,489 | 40,630 | 87,518 | 80,886 |
Provision for loan losses | 3,129 | 516 | 4,347 | 816 |
Net interest income after provision for loan losses | 42,360 | 40,114 | 83,171 | 80,070 |
NONINTEREST INCOME | ' | ' | ' | ' |
Trust revenue | 2,315 | 2,015 | 4,466 | 3,921 |
Service charges on deposits | 14,360 | 12,924 | 27,818 | 25,260 |
Securities transactions | 85 | 129 | 535 | 251 |
Income from sales of loans | 467 | 691 | 818 | 1,379 |
Insurance commissions | 3,262 | 3,045 | 7,228 | 7,090 |
Cash management | 1,703 | 1,626 | 3,288 | 3,049 |
Gain on sale of other assets | 3 | 34 | 8 | 251 |
Other | 1,416 | 1,269 | 3,012 | 3,067 |
Total noninterest income | 23,611 | 21,733 | 47,173 | 44,268 |
NONINTEREST EXPENSE | ' | ' | ' | ' |
Salaries and employee benefits | 27,478 | 25,085 | 53,416 | 50,294 |
Occupancy and fixed assets expense, net | 2,784 | 2,501 | 5,573 | 5,081 |
Depreciation | 2,375 | 2,358 | 4,724 | 4,666 |
Amortization of intangible assets | 458 | 424 | 866 | 867 |
Data processing services | 1,185 | 1,229 | 2,355 | 2,414 |
Net (income) expense from other real estate owned | -406 | 643 | 144 | 765 |
Marketing and business promotion | 1,661 | 1,456 | 3,377 | 2,963 |
Deposit insurance | 873 | 742 | 1,646 | 1,485 |
Other | 9,449 | 8,017 | 17,592 | 15,864 |
Total noninterest expense | 45,857 | 42,455 | 89,693 | 84,399 |
Income before taxes | 20,114 | 19,392 | 40,651 | 39,939 |
Income tax expense | -5,426 | -6,799 | -11,306 | -13,974 |
Net income | 14,688 | 12,593 | 29,345 | 25,965 |
NET INCOME PER COMMON SHARE | ' | ' | ' | ' |
Basic | $0.94 | $0.83 | $1.90 | $1.70 |
Diluted | $0.92 | $0.82 | $1.86 | $1.68 |
OTHER COMPREHENSIVE INCOME | ' | ' | ' | ' |
Unrealized gains (losses) on securities, net of tax of $(618), $857, $(1,021) and $1,083, respectively | 980 | -1,593 | 1,045 | -2,014 |
Reclassification adjustment for gains included in net income, net of tax of $14, $37, $34 and $42, respectively | -22 | -68 | -54 | -78 |
Other comprehensive income (loss), net of tax of $(604), $894, $(987) and $1,125, respectively | 958 | -1,661 | 991 | -2,092 |
Comprehensive income | $15,646 | $10,932 | $30,336 | $23,873 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Unrealized gains (losses) on securities, net of tax | ($618) | $857 | ($1,021) | $1,083 |
Reclassification adjustment for gains, tax | 14 | 37 | 34 | 42 |
Other comprehensive income (loss), tax | ($604) | $894 | ($987) | $1,125 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (USD $) | Total | COMMON STOCK [Member] | CAPITAL SURPLUS [Member] | RETAINED EARNINGS [Member] | ACCUMULATED OTHER COMPREHENSIVE INCOME [Member] |
In Thousands | |||||
Balance at beginning of period at Dec. 31, 2012 | ' | $15,242 | $82,401 | $415,607 | $6,317 |
Shares issued | ' | 59 | 1,028 | ' | ' |
Net income | 25,965 | ' | ' | 25,965 | ' |
Net change | -2,092 | ' | ' | ' | -2,092 |
Tax effect of stock options | ' | ' | 236 | ' | ' |
Dividends on common stock | ' | ' | ' | -8,833 | ' |
Stock-based compensation arrangements | ' | ' | 695 | ' | ' |
Shares acquired and canceled | ' | -45 | ' | -1,619 | ' |
Balance at end of period at Jun. 30, 2013 | 534,961 | 15,256 | 84,360 | 431,120 | 4,225 |
Balance at beginning of period at Mar. 31, 2013 | ' | 15,228 | 82,956 | 423,637 | 5,886 |
Shares issued | ' | 50 | 870 | ' | ' |
Net income | 12,593 | ' | ' | 12,593 | ' |
Net change | -1,661 | ' | ' | ' | -1,661 |
Tax effect of stock options | ' | ' | 213 | ' | ' |
Dividends on common stock | ' | ' | ' | -4,411 | ' |
Stock-based compensation arrangements | ' | ' | 321 | ' | ' |
Shares acquired and canceled | ' | -22 | ' | -699 | ' |
Balance at end of period at Jun. 30, 2013 | 534,961 | 15,256 | 84,360 | 431,120 | 4,225 |
Balance at beginning of period at Dec. 31, 2013 | 556,997 | 15,334 | 88,803 | 448,953 | 3,907 |
Shares issued | ' | 65 | 1,620 | ' | ' |
Net income | 29,345 | ' | ' | 29,345 | ' |
Net change | 991 | ' | ' | ' | 991 |
Tax effect of stock options | ' | ' | 248 | ' | ' |
Dividends on common stock | ' | ' | ' | -9,537 | ' |
Stock-based compensation arrangements | ' | ' | 776 | ' | ' |
Balance at end of period at Jun. 30, 2014 | 580,505 | 15,399 | 91,447 | 468,761 | 4,898 |
Balance at beginning of period at Mar. 31, 2014 | ' | 15,364 | 89,951 | 458,857 | 3,940 |
Shares issued | ' | 35 | 742 | ' | ' |
Net income | 14,688 | ' | ' | 14,688 | ' |
Net change | 958 | ' | ' | ' | 958 |
Tax effect of stock options | ' | ' | 325 | ' | ' |
Dividends on common stock | ' | ' | ' | -4,784 | ' |
Stock-based compensation arrangements | ' | ' | 429 | ' | ' |
Balance at end of period at Jun. 30, 2014 | $580,505 | $15,399 | $91,447 | $468,761 | $4,898 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income | $29,345 | $25,965 |
Adjustments to reconcile to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 4,347 | 816 |
Depreciation and amortization | 5,590 | 5,533 |
Net amortization of securities premiums and discounts | 512 | 839 |
Realized securities gains | -535 | -251 |
Gain on sales of loans | -818 | -1,379 |
Cash receipts from the sale of loans originated for sale | 71,074 | 111,609 |
Cash disbursements for loans originated for sale | -73,306 | -108,613 |
Deferred income tax provision | -2,943 | -335 |
Gain on other assets | -535 | -224 |
(Increase) decrease in interest receivable | -411 | 18 |
Decrease in interest payable | -316 | -263 |
Amortization of stock-based compensation arrangements | 776 | 695 |
Other, net | -1,619 | 8,304 |
Net cash provided by operating activities | 31,161 | 42,714 |
INVESTING ACTIVITIES | ' | ' |
Net decrease in federal funds sold | 4,619 | 700 |
Net cash and due from banks received from acquisitions | 174,283 | ' |
Purchases of held for investment securities | ' | -252 |
Purchases of available for sale securities | -203,890 | -20,697 |
Proceeds from maturities, calls and paydowns of held for investment securities | 2,689 | 2,642 |
Proceeds from maturities, calls and paydowns of available for sale securities | 163,472 | 56,369 |
Proceeds from sales of available for sale securities | 1,951 | 251 |
Purchases of loans | -43,787 | -34,124 |
Proceeds from sales of loans | 19,257 | 45,889 |
Net other increase in loans | -141,858 | -18,088 |
Purchases of premises, equipment and computer software | -5,783 | -7,052 |
Proceeds from the sale of other assets | 3,322 | 2,178 |
Net cash (used in) provided by investing activities | -25,725 | 27,816 |
FINANCING ACTIVITIES | ' | ' |
Net increase (decrease) in demand, transaction and savings deposits | 92,966 | -244,230 |
Net decrease in time deposits | -92,706 | -46,189 |
Net increase (decrease) in short-term borrowings | 7,727 | -1,049 |
(Pay down) issuance of long-term borrowings | -6,938 | 786 |
Issuance of common stock | 1,933 | 1,323 |
Common stock acquired | ' | -1,664 |
Cash dividends paid | -9,516 | -4,416 |
Net cash used in financing activities | -6,534 | -295,439 |
Net decrease in cash, due from banks and interest-bearing deposits | -1,098 | -224,909 |
Cash, due from banks and interest-bearing deposits at the beginning of the period | 1,857,535 | 1,945,148 |
Cash, due from banks and interest-bearing deposits at the end of the period | 1,856,437 | 1,720,239 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ' | ' |
Cash paid during the period for interest | 6,853 | 7,301 |
Cash paid during the period for income taxes | 13,770 | 12,942 |
Noncash investing and financing activities: | ' | ' |
Unpaid common stock dividends declared | $4,765 | $4,417 |
DESCRIPTION_OF_BUSINESS_AND_SU
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
(1) DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
The accounting and reporting policies of BancFirst Corporation and its subsidiaries (the “Company”) conform to accounting principles generally accepted in the United State of America (U.S. GAAP) and general practice within the banking industry. A summary of significant accounting policies can be found in Note (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
Basis of Presentation | |
The accompanying unaudited interim consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc. and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc., BancFirst Agency, Inc. and BancFirst Community Development Corporation. All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the unaudited interim consolidated financial statements. | |
The accompanying unaudited interim consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2013, should be referred to in connection with these unaudited interim consolidated financial statements. | |
The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2013, the date of the most recent annual report. | |
Use of Estimates in the Preparation of Financial Statements | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported. | |
Reclassifications | |
Certain items in prior financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders’ equity or comprehensive income. | |
Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-04, “Receivables: Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (Topic 310-40).” ASU 2014-04 clarifies that an in-substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendments may be adopted using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. Adoption of ASU 2014-04 is not expected to have a significant effect on the Company’s financial statements. | |
In January 2014, the FASB issued ASU No. 2014-01, “Accounting for Investments in Affordable Housing Projects (Topic 323).” ASU 2014-01 revises the necessary criteria that need to be met in order for an entity to account for investments in affordable housing projects net of the provision for income taxes. It also changes the method of recognition from an effective amortization approach to a proportional amortization approach. Additional disclosures were also set forth in this update. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendments are required to be applied retrospectively to all periods presented. Early adoption is permitted and adoption of the standard is optional. Management is evaluating whether to adopt the principle and it is not expected to have a significant effect on the Company’s financial statements whether or not it is adopted. |
RECENT_DEVELOPMENTS_INCLUDING_
RECENT DEVELOPMENTS, INCLUDING MERGERS AND ACQUISITIONS | 6 Months Ended |
Jun. 30, 2014 | |
Text Block [Abstract] | ' |
RECENT DEVELOPMENTS, INCLUDING MERGERS AND ACQUISITIONS | ' |
(2) RECENT DEVELOPMENTS, INCLUDING MERGERS AND ACQUISITIONS | |
On January 24, 2014, BancFirst, a wholly-owned subsidiary of BancFirst Corporation, assumed all of the deposits and purchased certain assets of The Bank of Union, El Reno, Oklahoma (“The Bank of Union”). The Bank of Union was closed on that day by the Oklahoma State Banking Department. | |
At the time of the closing, The Bank of Union had total deposits of approximately $302 million that were assumed by BancFirst. BancFirst initially purchased approximately $121 million of loans, the majority of which were classified as performing, $4.8 million of securities, and only $10,000 of other real estate. Its bid included a discount for the loans purchased. BancFirst had bid on, but was generally not awarded, loans that were classified as nonperforming. As a result of the acquisition, the Company recorded core deposit intangibles of approximately $2.2 million and goodwill of $417,000. The acquisition did not have a material effect on the Company’s consolidated financial statements. | |
At June 30, 2014, the balance of acquired loans from the former Bank of Union was approximately $83.6 million, the majority of which are classified as performing, and deposits in acquired branches were approximately $225.6 million. |
SECURITIES
SECURITIES | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
SECURITIES | ' | ||||||||||||||||
(3) SECURITIES | |||||||||||||||||
The following table summarizes securities held for investment and securities available for sale: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Held for investment, at cost (fair value: $9,386) | $ | 9,297 | |||||||||||||||
Available for sale, at fair value | 561,132 | ||||||||||||||||
Total | $ | 570,429 | |||||||||||||||
The following table summarizes the amortized cost and estimated fair values of securities held for investment: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||
Gains | Losses | Value | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Mortgage backed securities (1) | $ | 533 | $ | 37 | $ | — | $ | 570 | |||||||||
States and political subdivisions | 8,764 | 52 | — | 8,816 | |||||||||||||
Total | $ | 9,297 | $ | 89 | $ | — | $ | 9,386 | |||||||||
The following table summarizes the amortized cost and estimated fair values of securities available for sale: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||
Gains | Losses | Value | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||
U.S. treasury and other federal agencies | $ | 458,976 | $ | 2,061 | $ | (212 | ) | $ | 460,825 | ||||||||
Mortgage backed securities (1) | 28,390 | 678 | (508 | ) | 28,560 | ||||||||||||
States and political subdivisions | 53,652 | 1,918 | (48 | ) | 55,522 | ||||||||||||
Other securities (2) | 12,126 | 4,276 | (177 | ) | 16,225 | ||||||||||||
Total | $ | 553,144 | $ | 8,933 | $ | (945 | ) | $ | 561,132 | ||||||||
-1 | Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies. | ||||||||||||||||
-2 | Primarily consists of equity securities. | ||||||||||||||||
The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity. | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Amortized | Estimated | ||||||||||||||||
Cost | Fair | ||||||||||||||||
Value | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Held for Investment | |||||||||||||||||
Contractual maturity of debt securities: | |||||||||||||||||
Within one year | $ | 1,586 | $ | 1,595 | |||||||||||||
After one year but within five years | 7,013 | 7,053 | |||||||||||||||
After five years but within ten years | 656 | 693 | |||||||||||||||
After ten years | 42 | 45 | |||||||||||||||
Total | $ | 9,297 | $ | 9,386 | |||||||||||||
Available for Sale | |||||||||||||||||
Contractual maturity of debt securities: | |||||||||||||||||
Within one year | $ | 60,097 | $ | 60,305 | |||||||||||||
After one year but within five years | 367,055 | 368,721 | |||||||||||||||
After five years but within ten years | 25,815 | 26,668 | |||||||||||||||
After ten years | 91,471 | 92,697 | |||||||||||||||
Total debt securities | 544,438 | 548,391 | |||||||||||||||
Equity securities | 8,706 | 12,741 | |||||||||||||||
Total | $ | 553,144 | $ | 561,132 | |||||||||||||
The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Book value of pledged securities | $ | 415,206 |
LOANS_AND_ALLOWANCE_FOR_LOAN_L
LOANS AND ALLOWANCE FOR LOAN LOSSES | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
LOANS AND ALLOWANCE FOR LOAN LOSSES | ' | ||||||||||||||||||||||||
(4) LOANS AND ALLOWANCE FOR LOAN LOSSES | |||||||||||||||||||||||||
The following is a schedule of loans outstanding by category: | |||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | June 30, 2013 | |||||||||||||||||||||||
Amount | Percent | Amount | Percent | Amount | Percent | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Commercial and industrial | $ | 677,425 | 18.48 | % | $ | 605,672 | 17.88 | % | $ | 529,253 | 16.31 | % | |||||||||||||
Oil & gas production & equipment | 110,913 | 3.03 | 96,907 | 2.86 | 145,735 | 4.49 | |||||||||||||||||||
Agriculture | 102,693 | 2.8 | 111,323 | 3.29 | 94,337 | 2.91 | |||||||||||||||||||
State and political subdivisions: | |||||||||||||||||||||||||
Taxable | 9,346 | 0.25 | 10,217 | 0.3 | 9,202 | 0.28 | |||||||||||||||||||
Tax-exempt | 10,803 | 0.29 | 11,073 | 0.33 | 12,392 | 0.38 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Construction | 355,526 | 9.7 | 284,808 | 8.41 | 247,827 | 7.64 | |||||||||||||||||||
Farmland | 144,519 | 3.94 | 132,512 | 3.91 | 126,233 | 3.89 | |||||||||||||||||||
One to four family residences | 748,228 | 20.41 | 703,903 | 20.78 | 697,927 | 21.51 | |||||||||||||||||||
Multifamily residential properties | 60,430 | 1.65 | 60,080 | 1.77 | 48,128 | 1.48 | |||||||||||||||||||
Commercial | 1,160,079 | 31.65 | 1,097,484 | 32.4 | 1,070,807 | 33 | |||||||||||||||||||
Consumer | 258,745 | 7.06 | 250,588 | 7.4 | 243,799 | 7.51 | |||||||||||||||||||
Other (not classified above) | 27,201 | 0.74 | 22,579 | 0.67 | 19,444 | 0.6 | |||||||||||||||||||
Total loans | $ | 3,665,908 | 100 | % | $ | 3,387,146 | 100 | % | $ | 3,245,084 | 100 | % | |||||||||||||
Loans held for sale (included above) | $ | 9,519 | $ | 6,469 | $ | 10,367 | |||||||||||||||||||
The Company’s loans are mostly to customers within Oklahoma and over 60% of the loans are secured by real estate. Credit risk on loans is managed through limits on amounts loaned to individual borrowers, underwriting standards and loan monitoring procedures. The amounts and types of collateral obtained, if any, to secure loans are based upon the Company’s underwriting standards and management’s credit evaluation. Collateral varies, but may include real estate, equipment, accounts receivable, inventory, livestock and securities. The Company’s interest in collateral is secured through filing mortgages and liens, and in some cases, by possession of the collateral. | |||||||||||||||||||||||||
Accounting policies related to appraisals, nonaccruals and charge-offs are disclosed in Footnote (1) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||
Nonperforming and Restructured Assets | |||||||||||||||||||||||||
The following is a summary of nonperforming and restructured assets: | |||||||||||||||||||||||||
June 30, | December 31, | June 30, | |||||||||||||||||||||||
2014 | 2013 | 2013 | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Past due 90 days or more and still accruing | $ | 1,789 | $ | 1,179 | $ | 850 | |||||||||||||||||||
Nonaccrual | 17,268 | 14,390 | 18,946 | ||||||||||||||||||||||
Restructured | 20,615 | 17,624 | 17,903 | ||||||||||||||||||||||
Total nonperforming and restructured loans | 39,672 | 33,193 | 37,699 | ||||||||||||||||||||||
Other real estate owned and repossessed assets | 6,406 | 8,386 | 8,503 | ||||||||||||||||||||||
Total nonperforming and restructured assets | $ | 46,078 | $ | 41,579 | $ | 46,202 | |||||||||||||||||||
Nonperforming and restructured loans to total loans | 1.08 | % | 0.98 | % | 1.16 | % | |||||||||||||||||||
Nonperforming and restructured assets to total assets | 0.72 | % | 0.69 | % | 0.8 | % | |||||||||||||||||||
Nonaccrual loans, accruing loans past due 90 days or more, and restructured loans are shown in the table above. Had nonaccrual loans performed in accordance with their original contractual terms, the Company would have recognized additional interest income of approximately $481,000 for the six months ended June 30, 2014 and approximately $978,000 for the six months ended June 30, 2013. | |||||||||||||||||||||||||
Restructured loans consisted primarily of one relationship restructured to defer principal payments. The relationship was evaluated by management and determined to be well collateralized. Additionally, none of the concessions granted involved a principal reduction or a change from the current market rate of interest. The collateral value is monitored periodically to evaluate possible impairment. The Company charges interest on principal balances outstanding during deferral periods. As a result, the current and future financial effects of the recorded balance of loans considered to be restructured were not considered to be material. | |||||||||||||||||||||||||
Loans are segregated into classes based upon the nature of the collateral and the borrower. These classes are used to estimate the credit risk component in the allowance for loan losses. | |||||||||||||||||||||||||
The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate. | |||||||||||||||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 323 | $ | 516 | |||||||||||||||||||||
Non-residential real estate other | 5,436 | 9,195 | |||||||||||||||||||||||
Residential real estate permanent mortgage | 741 | 741 | |||||||||||||||||||||||
Residential real estate all other | 951 | 2,837 | |||||||||||||||||||||||
Non-consumer non-real estate | 1,265 | 1,268 | |||||||||||||||||||||||
Consumer non-real estate | 189 | 216 | |||||||||||||||||||||||
Other loans | 880 | 1,938 | |||||||||||||||||||||||
Acquired loans | 7,483 | 2,235 | |||||||||||||||||||||||
Total | $ | 17,268 | $ | 18,946 | |||||||||||||||||||||
The following table presents an age analysis of past due loans, segregated by class of loans: | |||||||||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||
30-89 | 90 Days | Total | Current | Total | Accruing | ||||||||||||||||||||
Days | and | Past Due | Loans | Loans | Loans | ||||||||||||||||||||
Past Due | Greater | Loans | 90 Days or | ||||||||||||||||||||||
More Past | |||||||||||||||||||||||||
Due | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 477 | $ | 264 | $ | 741 | $ | 482,081 | $ | 482,822 | $ | 60 | |||||||||||||
Non-residential real estate other | 5,065 | 825 | 5,890 | 920,264 | 926,154 | — | |||||||||||||||||||
Residential real estate permanent mortgage | 2,224 | 656 | 2,880 | 282,749 | 285,629 | 180 | |||||||||||||||||||
Residential real estate all other | 1,545 | 892 | 2,437 | 598,454 | 600,891 | 538 | |||||||||||||||||||
Non-consumer non-real estate | 2,059 | 985 | 3,044 | 859,012 | 862,056 | 46 | |||||||||||||||||||
Consumer non-real estate | 2,256 | 313 | 2,569 | 230,774 | 233,343 | 219 | |||||||||||||||||||
Other loans | 1,695 | 356 | 2,051 | 146,218 | 148,269 | — | |||||||||||||||||||
Acquired loans | 3,506 | 4,989 | 8,495 | 118,249 | 126,744 | 746 | |||||||||||||||||||
Total | $ | 18,827 | $ | 9,280 | $ | 28,107 | $ | 3,637,801 | $ | 3,665,908 | $ | 1,789 | |||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 1,848 | $ | 138 | $ | 1,986 | $ | 444,231 | $ | 446,217 | $ | 120 | |||||||||||||
Non-residential real estate other | 230 | 3,056 | 3,286 | 801,821 | 805,107 | 51 | |||||||||||||||||||
Residential real estate permanent mortgage | 1,496 | 566 | 2,062 | 249,671 | 251,733 | 102 | |||||||||||||||||||
Residential real estate all other | 1,494 | 251 | 1,745 | 539,276 | 541,021 | 49 | |||||||||||||||||||
Non-consumer non-real estate | 3,519 | 816 | 4,335 | 745,327 | 749,662 | 32 | |||||||||||||||||||
Consumer non-real estate | 2,382 | 213 | 2,595 | 214,785 | 217,380 | 176 | |||||||||||||||||||
Other loans | 1,850 | 1,520 | 3,370 | 144,135 | 147,505 | — | |||||||||||||||||||
Acquired loans | 375 | 593 | 968 | 85,491 | 86,459 | 320 | |||||||||||||||||||
Total | $ | 13,194 | $ | 7,153 | $ | 20,347 | $ | 3,224,737 | $ | 3,245,084 | $ | 850 | |||||||||||||
Impaired Loans | |||||||||||||||||||||||||
Loans are considered impaired when, based on current information and events, it is probable the Company will be unable to collect the full amount of scheduled principal and interest payments in accordance with the original contractual terms of the loan agreement. If a loan is impaired, a specific valuation allowance may be allocated if necessary so that the loan is reported, net of allowance for loss, at the present value of future cash flows using the loan’s existing rate, or the fair value of collateral if repayment is expected solely from the collateral. | |||||||||||||||||||||||||
The following table presents impaired loans, segregated by class of loans. No material amount of interest income was recognized on impaired loans subsequent to their classification as impaired. | |||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||
Unpaid | Recorded | Related | Average | ||||||||||||||||||||||
Principal | Investment | Allowance | Recorded | ||||||||||||||||||||||
Balance | with | Investment | |||||||||||||||||||||||
Allowance | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 542 | $ | 476 | $ | 22 | $ | 547 | |||||||||||||||||
Non-residential real estate other | 23,886 | 22,122 | 1,710 | 22,305 | |||||||||||||||||||||
Residential real estate permanent mortgage | 1,117 | 951 | 86 | 931 | |||||||||||||||||||||
Residential real estate all other | 1,768 | 1,581 | 215 | 1,310 | |||||||||||||||||||||
Non-consumer non-real estate | 4,407 | 4,082 | 512 | 2,151 | |||||||||||||||||||||
Consumer non-real estate | 568 | 553 | 141 | 542 | |||||||||||||||||||||
Other loans | 1,048 | 880 | 153 | 1,000 | |||||||||||||||||||||
Acquired loans | 19,347 | 12,872 | 88 | 13,152 | |||||||||||||||||||||
Total | $ | 52,683 | $ | 43,517 | $ | 2,927 | $ | 41,938 | |||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 814 | $ | 748 | $ | 28 | $ | 623 | |||||||||||||||||
Non-residential real estate other | 27,297 | 25,859 | 2,363 | 25,885 | |||||||||||||||||||||
Residential real estate permanent mortgage | 1,510 | 1,287 | 64 | 1,277 | |||||||||||||||||||||
Residential real estate all other | 3,694 | 3,294 | 1,189 | 3,985 | |||||||||||||||||||||
Non-consumer non-real estate | 1,816 | 1,481 | 390 | 1,536 | |||||||||||||||||||||
Consumer non-real estate | 517 | 495 | 79 | 419 | |||||||||||||||||||||
Other loans | 2,253 | 2,090 | 278 | 2,648 | |||||||||||||||||||||
Acquired loans | 10,359 | 8,230 | 58 | 8,511 | |||||||||||||||||||||
Total | $ | 48,260 | $ | 43,484 | $ | 4,449 | $ | 44,884 | |||||||||||||||||
Credit Risk Monitoring and Loan Grading | |||||||||||||||||||||||||
The Company considers various factors to monitor the credit risk in the loan portfolio including volume and severity of loan delinquencies, nonaccrual loans, internal grading of loans, historical loan loss experience and economic conditions. | |||||||||||||||||||||||||
An internal risk grading system is used to indicate the credit risk of loans. The loan grades used by the Company are for internal risk identification purposes and do not directly correlate to regulatory classification categories or any financial reporting definitions. | |||||||||||||||||||||||||
The general characteristics of the risk grades are disclosed in Note (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||
The following table presents internal loan grading by class of loans: | |||||||||||||||||||||||||
Internal Loan Grading | |||||||||||||||||||||||||
Grade | |||||||||||||||||||||||||
1 | 2 | 3 | 4 | 5 | Total | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 406,862 | $ | 69,202 | $ | 6,375 | $ | 383 | $ | — | $ | 482,822 | |||||||||||||
Non-residential real estate other | 736,119 | 165,012 | 19,587 | 5,436 | — | 926,154 | |||||||||||||||||||
Residential real estate permanent mortgage | 253,932 | 24,765 | 5,967 | 965 | — | 285,629 | |||||||||||||||||||
Residential real estate all other | 501,090 | 91,707 | 6,859 | 1,235 | — | 600,891 | |||||||||||||||||||
Non-consumer non-real estate | 704,671 | 115,925 | 40,135 | 1,325 | — | 862,056 | |||||||||||||||||||
Consumer non-real estate | 220,053 | 11,160 | 1,637 | 493 | — | 233,343 | |||||||||||||||||||
Other loans | 145,004 | 2,373 | 615 | 87 | 190 | 148,269 | |||||||||||||||||||
Acquired loans | 66,721 | 42,798 | 8,679 | 8,137 | 409 | 126,744 | |||||||||||||||||||
Total | $ | 3,034,452 | $ | 522,942 | $ | 89,854 | $ | 18,061 | $ | 599 | $ | 3,665,908 | |||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 381,580 | $ | 58,923 | $ | 5,077 | $ | 637 | $ | — | $ | 446,217 | |||||||||||||
Non-residential real estate other | 650,422 | 124,831 | 20,609 | 9,245 | — | 805,107 | |||||||||||||||||||
Residential real estate permanent mortgage | 212,230 | 33,024 | 5,593 | 886 | — | 251,733 | |||||||||||||||||||
Residential real estate all other | 454,987 | 74,982 | 8,123 | 2,929 | — | 541,021 | |||||||||||||||||||
Non-consumer non-real estate | 649,542 | 94,045 | 4,737 | 1,338 | — | 749,662 | |||||||||||||||||||
Consumer non-real estate | 203,408 | 11,767 | 1,860 | 342 | 3 | 217,380 | |||||||||||||||||||
Other loans | 143,653 | 2,642 | 864 | 346 | — | 147,505 | |||||||||||||||||||
Acquired loans | 66,234 | 13,774 | 3,894 | 2,557 | — | 86,459 | |||||||||||||||||||
Total | $ | 2,762,056 | $ | 413,988 | $ | 50,757 | $ | 18,280 | $ | 3 | $ | 3,245,084 | |||||||||||||
Allowance for Loan Losses Methodology | |||||||||||||||||||||||||
The allowance for loan losses (“ALL”) methodology is disclosed in Footnote (5) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |||||||||||||||||||||||||
The following table details activity in the ALL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||||||||
ALL | |||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provisions | Balance | ||||||||||||||||||||
beginning | offs | charge- | charged to | at end of | |||||||||||||||||||||
of period | offs | operations | period | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 5,012 | $ | (18 | ) | $ | 34 | $ | 16 | $ | 213 | $ | 5,241 | ||||||||||||
Non-residential real estate other | 10,685 | — | — | — | 553 | 11,238 | |||||||||||||||||||
Residential real estate permanent mortgage | 3,237 | (32 | ) | 31 | (1 | ) | 74 | 3,310 | |||||||||||||||||
Residential real estate all other | 6,485 | (44 | ) | 10 | (34 | ) | 364 | 6,815 | |||||||||||||||||
Non-consumer non-real estate | 9,703 | (61 | ) | 16 | (45 | ) | 2,309 | 11,967 | |||||||||||||||||
Consumer non-real estate | 2,573 | (190 | ) | 46 | (144 | ) | 216 | 2,645 | |||||||||||||||||
Other loans | 2,072 | (188 | ) | 110 | (78 | ) | (1 | ) | 1,993 | ||||||||||||||||
Acquired loans | 157 | (148 | ) | 678 | 530 | (599 | ) | 88 | |||||||||||||||||
Total | $ | 39,924 | $ | (681 | ) | $ | 925 | $ | 244 | $ | 3,129 | $ | 43,297 | ||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 4,827 | $ | (22 | ) | $ | 65 | $ | 43 | $ | 371 | $ | 5,241 | ||||||||||||
Non-residential real estate other | 11,026 | — | 3 | 3 | 209 | 11,238 | |||||||||||||||||||
Residential real estate permanent mortgage | 2,825 | (162 | ) | 41 | (121 | ) | 606 | 3,310 | |||||||||||||||||
Residential real estate all other | 6,708 | (93 | ) | 14 | (79 | ) | 186 | 6,815 | |||||||||||||||||
Non-consumer non-real estate | 8,977 | (131 | ) | 30 | (101 | ) | 3,091 | 11,967 | |||||||||||||||||
Consumer non-real estate | 2,556 | (331 | ) | 108 | (223 | ) | 312 | 2,645 | |||||||||||||||||
Other loans | 1,991 | (251 | ) | 127 | (124 | ) | 126 | 1,993 | |||||||||||||||||
Acquired loans | 124 | (165 | ) | 683 | 518 | (554 | ) | 88 | |||||||||||||||||
Total | $ | 39,034 | $ | (1,155 | ) | $ | 1,071 | $ | (84 | ) | $ | 4,347 | $ | 43,297 | |||||||||||
ALL | |||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provisions | Balance | ||||||||||||||||||||
beginning | offs | charge- | charged to | at end of | |||||||||||||||||||||
of period | offs | operations | period | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Three Months Ended June 30, 2013 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 4,866 | $ | (2 | ) | $ | 1 | $ | (1 | ) | $ | (151 | ) | $ | 4,714 | ||||||||||
Non-residential real estate other | 10,465 | (1 | ) | 6 | 5 | 396 | 10,866 | ||||||||||||||||||
Residential real estate permanent mortgage | 2,756 | (40 | ) | 4 | (36 | ) | 13 | 2,733 | |||||||||||||||||
Residential real estate all other | 7,165 | (59 | ) | 25 | (34 | ) | 218 | 7,349 | |||||||||||||||||
Non-consumer non-real estate | 8,982 | (69 | ) | 18 | (51 | ) | (180 | ) | 8,751 | ||||||||||||||||
Consumer non-real estate | 2,384 | (155 | ) | 61 | (94 | ) | 99 | 2,389 | |||||||||||||||||
Other loans | 1,822 | (20 | ) | 31 | 11 | 128 | 1,961 | ||||||||||||||||||
Acquired loans | 224 | (1 | ) | 3 | 2 | (7 | ) | 219 | |||||||||||||||||
Total | $ | 38,664 | $ | (347 | ) | $ | 149 | $ | (198 | ) | $ | 516 | $ | 38,982 | |||||||||||
Six Months Ended June 30, 2013 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 5,104 | $ | (2 | ) | $ | 16 | $ | 14 | $ | (404 | ) | $ | 4,714 | |||||||||||
Non-residential real estate other | 9,865 | (19 | ) | 10 | (9 | ) | 1,010 | 10,866 | |||||||||||||||||
Residential real estate permanent mortgage | 2,781 | (96 | ) | 15 | (81 | ) | 33 | 2,733 | |||||||||||||||||
Residential real estate all other | 7,034 | (154 | ) | 27 | (127 | ) | 442 | 7,349 | |||||||||||||||||
Non-consumer non-real estate | 9,385 | (105 | ) | 49 | (56 | ) | (578 | ) | 8,751 | ||||||||||||||||
Consumer non-real estate | 2,451 | (295 | ) | 137 | (158 | ) | 96 | 2,389 | |||||||||||||||||
Other loans | 1,885 | (159 | ) | 31 | (128 | ) | 204 | 1,961 | |||||||||||||||||
Acquired loans | 220 | (50 | ) | 36 | (14 | ) | 13 | 219 | |||||||||||||||||
Total | $ | 38,725 | $ | (880 | ) | $ | 321 | $ | (559 | ) | $ | 816 | $ | 38,982 | |||||||||||
The following table details the amount of ALL by class of loans for the period presented, detailed on the basis of the impairment methodology used by the Company. | |||||||||||||||||||||||||
ALL | |||||||||||||||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||||||||||||||
Individually | Collectively | Individually | Collectively | ||||||||||||||||||||||
evaluated for | evaluated for | evaluated for | evaluated for | ||||||||||||||||||||||
impairment | impairment | impairment | impairment | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 372 | $ | 4,869 | $ | 217 | $ | 4,497 | |||||||||||||||||
Non-residential real estate other | 1,881 | 9,357 | 2,663 | 8,203 | |||||||||||||||||||||
Residential real estate permanent mortgage | 539 | 2,771 | 222 | 2,511 | |||||||||||||||||||||
Residential real estate all other | 736 | 6,079 | 1,794 | 5,555 | |||||||||||||||||||||
Non-consumer non-real estate | 3,567 | 8,400 | 1,124 | 7,627 | |||||||||||||||||||||
Consumer non-real estate | 417 | 2,228 | 265 | 2,124 | |||||||||||||||||||||
Other loans | 190 | 1,803 | 231 | 1,730 | |||||||||||||||||||||
Acquired loans | — | 88 | — | 219 | |||||||||||||||||||||
Total | $ | 7,702 | $ | 35,595 | $ | 6,516 | $ | 32,466 | |||||||||||||||||
The following table details the loans outstanding by class of loans for the period presented, on the basis of the impairment methodology used by the Company. | |||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||||||||||||||
Individually | Collectively | Loans acquired | Individually | Collectively | Loans acquired | ||||||||||||||||||||
evaluated for | evaluated for | with | evaluated for | evaluated for | with | ||||||||||||||||||||
impairment | impairment | deteriorated | impairment | impairment | deteriorated | ||||||||||||||||||||
credit quality | credit quality | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 6,758 | $ | 476,064 | $ | — | $ | 5,713 | $ | 440,503 | $ | — | |||||||||||||
Non-residential real estate other | 25,023 | 901,131 | — | 29,855 | 775,253 | — | |||||||||||||||||||
Residential real estate permanent mortgage | 6,932 | 278,697 | — | 6,479 | 245,254 | — | |||||||||||||||||||
Residential real estate all other | 8,094 | 592,797 | — | 11,052 | 529,969 | — | |||||||||||||||||||
Non-consumer non-real estate | 41,460 | 820,596 | — | 6,075 | 743,587 | — | |||||||||||||||||||
Consumer non-real estate | 2,130 | 231,213 | — | 2,205 | 215,175 | — | |||||||||||||||||||
Other loans | 324 | 147,945 | — | 280 | 147,225 | — | |||||||||||||||||||
Acquired loans | — | 109,519 | 17,225 | — | 80,008 | 6,451 | |||||||||||||||||||
Total | $ | 90,721 | $ | 3,557,962 | $ | 17,225 | $ | 61,659 | $ | 3,176,974 | $ | 6,451 | |||||||||||||
Transfers from Loans | |||||||||||||||||||||||||
Transfers from loans to other real estate owned and repossessed assets are non-cash transactions, and are not included in the statements of cash flow. | |||||||||||||||||||||||||
Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows: | |||||||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||
June 30, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Other real estate owned | $ | 525 | $ | 896 | |||||||||||||||||||||
Repossessed assets | 722 | 594 | |||||||||||||||||||||||
Total | $ | 1,247 | $ | 1,490 | |||||||||||||||||||||
INTANGIBLE_ASSETS
INTANGIBLE ASSETS | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
INTANGIBLE ASSETS | ' | ||||||||||||||||||||
(5) INTANGIBLE ASSETS | |||||||||||||||||||||
The following is a summary of intangible assets: | |||||||||||||||||||||
Gross | Accumulated | Net | |||||||||||||||||||
Carrying | Amortization | Carrying | |||||||||||||||||||
Amount | Amount | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||
Core deposit intangibles | $ | 13,198 | $ | (5,305 | ) | $ | 7,893 | ||||||||||||||
Customer relationship intangibles | 5,699 | (2,518 | ) | 3,181 | |||||||||||||||||
Mortgage servicing intangibles | 672 | (172 | ) | 500 | |||||||||||||||||
Total | $ | 19,569 | $ | (7,995 | ) | $ | 11,574 | ||||||||||||||
The following is a summary of goodwill by business segment: | |||||||||||||||||||||
Metropolitan | Community | Other | Executive, | Consolidated | |||||||||||||||||
Banks | Banks | Financial | Operations | ||||||||||||||||||
Services | & Support | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Balance at December 31, 2013 | $ | 8,079 | $ | 30,552 | $ | 5,464 | $ | 450 | $ | 44,545 | |||||||||||
Acquisitions | — | 417 | — | — | 417 | ||||||||||||||||
Balance at June 30, 2014 | $ | 8,079 | $ | 30,969 | $ | 5,464 | $ | 450 | $ | 44,962 | |||||||||||
Additional information for intangible assets can be found in Note (7) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. |
STOCKBASED_COMPENSATION
STOCK-BASED COMPENSATION | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
STOCK-BASED COMPENSATION | ' | ||||||||||||||||
(6) STOCK-BASED COMPENSATION | |||||||||||||||||
The Company adopted a nonqualified incentive stock option plan (the “BancFirst ISOP”) in May 1986. The Company amended the BancFirst ISOP to increase the number of shares to be issued under the plan to 3,000,000 shares in May 2013. At June 30, 2014, 135,860 shares were available for future grants. The BancFirst ISOP will terminate on December 31, 2019. The options are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant. Options outstanding as of June 30, 2014 will become exercisable through the year 2021. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant. | |||||||||||||||||
In June 1999, the Company adopted the BancFirst Corporation Non-Employee Directors’ Stock Option Plan (the “BancFirst Directors’ Stock Option Plan”). Each non-employee director is granted an option for 10,000 shares. The Company amended the BancFirst Directors’ Stock Option Plan to increase the number of shares to be issued under the plan to 230,000 shares in May 2014. At June 30, 2014, 30,000 shares were available for future grants. The options are exercisable beginning one year from the date of grant at the rate of 25% per year for four years, and expire at the end of fifteen years from the date of grant. Options outstanding as of June 30, 2014 will become exercisable through the year 2017. The option price must be no less than 100% of the fair value of the stock relating to such option at the date of grant. | |||||||||||||||||
The Company currently uses newly issued stock to satisfy stock-based exercises, but reserves the right to use treasury stock purchased under the Company’s Stock Repurchase Program (the “SRP”) in the future. | |||||||||||||||||
The following table is a summary of the activity under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan: | |||||||||||||||||
Options | Wgtd. Avg. | Wgtd. Avg. | Aggregate | ||||||||||||||
Exercise | Remaining | Intrinsic | |||||||||||||||
Price | Contractual | Value | |||||||||||||||
Term | |||||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||
Outstanding at December 31, 2013 | 1,158,317 | $ | 34.45 | ||||||||||||||
Options granted | 10,000 | 58.61 | |||||||||||||||
Options exercised | (63,625 | ) | 25.8 | ||||||||||||||
Options canceled, forfeited, or expired | — | — | |||||||||||||||
Outstanding at June 30, 2014 | 1,104,692 | 35.16 | 8.62Yr | $ | 29,667 | ||||||||||||
Exercisable at June 30, 2014 | 516,042 | 28.77 | 4.98Yr | $ | 17,094 | ||||||||||||
The following table has additional information regarding options granted and options exercised under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||
Weighted average grant-date fair value per share of options granted | $ | 12.33 | $ | 8.74 | $ | 12.33 | $ | 8.74 | |||||||||
Total intrinsic value of options exercised | 1,301 | 1,024 | 2,046 | 1,230 | |||||||||||||
Cash received from options exercised | 776 | 1,059 | 1,642 | 1,201 | |||||||||||||
Tax benefit realized from options exercised | 503 | 396 | 791 | 476 | |||||||||||||
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model and is based on certain assumptions including risk-free rate of return, dividend yield, stock price volatility and the expected term. The fair value of each option is expensed over its vesting period. | |||||||||||||||||
The following table is a summary of the Company’s recorded stock-based compensation expense: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Stock-based compensation expense | $ | 429 | $ | 321 | $ | 776 | $ | 695 | |||||||||
Tax benefit | (166 | ) | (124 | ) | (300 | ) | (269 | ) | |||||||||
Stock-based compensation expense, net of tax | $ | 263 | $ | 197 | $ | 476 | $ | 426 | |||||||||
The Company will continue to amortize the remaining fair value of stock options over the remaining vesting period of approximately seven years. The following table shows the remaining fair value of stock options: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Fair value of stock options | $ | 4,549 | |||||||||||||||
The following table shows the assumptions used for computing stock-based compensation expense under the fair value method: | |||||||||||||||||
Six Months Ended | |||||||||||||||||
June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Risk-free interest rate | 2.54 | % | 2.53 | % | |||||||||||||
Dividend yield | 2 | % | 2 | % | |||||||||||||
Stock price volatility | 18.98 | % | 18.36 | % | |||||||||||||
Expected term | 10Yrs | 10Yrs | |||||||||||||||
The risk-free interest rate is determined by reference to the spot zero-coupon rate for the U.S. Treasury security with a maturity similar to the expected term of the options. The dividend yield is the expected yield for the expected term. The stock price volatility is estimated from the recent historical volatility of the Company’s stock. The expected term is estimated from the historical option exercise experience. |
STOCKHOLDERS_EQUITY
STOCKHOLDERS' EQUITY | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
STOCKHOLDERS' EQUITY | ' | ||||||||||||||||||||||||
(7) STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||
In November 1999, the Company adopted a Stock Repurchase Program (the “SRP”). The SRP may be used as a means to increase earnings per share and return on equity, to purchase treasury stock for the exercise of stock options or for distributions under the Deferred Stock Compensation Plan, to provide liquidity for optionees to dispose of stock from exercises of their stock options and to provide liquidity for stockholders wishing to sell their stock. All shares repurchased under the SRP have been retired and not held as treasury stock. The timing, price and amount of stock repurchases under the SRP may be determined by management and approved by the Company’s Executive Committee. | |||||||||||||||||||||||||
The following table is a summary of the shares under the program: | |||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Number of shares repurchased | — | 17,191 | — | 40,241 | |||||||||||||||||||||
Average price of shares repurchased | — | $ | 40.83 | — | $ | 40.88 | |||||||||||||||||||
Shares remaining to be repurchased | 194,723 | 194,723 | 194,723 | 194,723 | |||||||||||||||||||||
The Company and BancFirst are subject to risk-based capital guidelines issued by the Board of Governors of the Federal Reserve System and the FDIC. These guidelines are used to evaluate capital adequacy and involve both quantitative and qualitative evaluations of the Company’s and BancFirst’s assets, liabilities and certain off-balance-sheet items calculated under regulatory practices. Failure to meet the minimum capital requirements can initiate certain mandatory or discretionary actions by the regulatory agencies that could have a direct material effect on the Company’s financial statements. Management believes that as of June 30, 2014, the Company and BancFirst met all capital adequacy requirements to which they are subject. The actual and required capital amounts and ratios are shown in the following table: | |||||||||||||||||||||||||
Actual | Required | To Be Well | |||||||||||||||||||||||
For Capital | Capitalized Under | ||||||||||||||||||||||||
Adequacy | Prompt Corrective | ||||||||||||||||||||||||
Purposes | Action Provisions | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of June 30, 2014: | |||||||||||||||||||||||||
Total Capital | |||||||||||||||||||||||||
(to Risk Weighted Assets)- | |||||||||||||||||||||||||
BancFirst Corporation | $ | 575,607 | 14.47 | % | $ | 325,487 | 8 | % | N/A | N/A | |||||||||||||||
BancFirst | 553,957 | 13.55 | % | 324,918 | 8 | % | $ | 406,147 | 10 | % | |||||||||||||||
Tier 1 Capital | |||||||||||||||||||||||||
(to Risk Weighted Assets)- | |||||||||||||||||||||||||
BancFirst Corporation | $ | 545,570 | 13.41 | % | $ | 162,744 | 4 | % | N/A | N/A | |||||||||||||||
BancFirst | 507,016 | 12.48 | % | 162,459 | 4 | % | $ | 243,688 | 6 | % | |||||||||||||||
Tier 1 Capital | |||||||||||||||||||||||||
(to Total Assets)- | |||||||||||||||||||||||||
BancFirst Corporation | $ | 545,570 | 8.64 | % | $ | 191,060 | 3 | % | N/A | N/A | |||||||||||||||
BancFirst | 507,016 | 8.05 | % | 190,452 | 3 | % | $ | 317,420 | 5 | % | |||||||||||||||
As of June 30, 2014, BancFirst was considered to be “well capitalized” and there are no conditions or events since the most recent notification of BancFirst’s capital category that management believes would materially change its category under capital requirements existing as of the report date. To be well capitalized under Federal bank regulatory agency definitions, a depository institution must have a Tier 1 Capital (to Risk-Weighted Assets) of at least 6%, a combined Total Capital (to Risk Weighted Assets) of at least 10%, and a Tier 1 Capital (to Total Assets) of at least 5%. The Company’s trust preferred securities have continued to be included in Tier 1 Capital as the Company’s total assets do not exceed $10 billion. | |||||||||||||||||||||||||
Basel III Capital Rules | |||||||||||||||||||||||||
In July 2013, the three Federal bank regulatory agencies jointly published final rules (the “Basel III Capital Rules”) establishing a new comprehensive capital framework for U.S. banking organizations. The rules implement the Basel Committee’s December 2010 framework known as “Basel III” for strengthening international capital standards as well as certain provisions of the Dodd-Frank Act. These Rules substantially revise the risk-based capital requirements applicable to bank holding companies and depository institutions, compared to the current U.S. risk-based capital rules. The Basel III Capital Rules define the components of capital and address other issues affecting the numerator in banking institutions’ regulatory capital ratios. These Rules also address risk weights and other issues affecting the denominator in banking institutions’ regulatory capital ratios and replace the existing risk-weighting approach with a more risk-sensitive approach. The Basel III Capital Rules also implement the requirements of Section 939A of the Dodd-Frank Act to remove references to credit ratings from the federal banking agencies’ rules. The Basel III Capital Rules are effective for the Company and BancFirst on January 1, 2015 (subject to a 4-year phase-in period). | |||||||||||||||||||||||||
The Basel III Capital Rules, among other things, (i) introduce a new capital measure called “Common Equity Tier 1” (“CET1”), (ii) specify that Tier 1 capital consist of CET1 and “Additional Tier 1 capital” instruments meeting specified requirements, (iii) define CET1 narrowly by requiring that most deductions/adjustments to regulatory capital measures be made to CET1 and not to the other components of capital and (iv) expand the scope of the deductions/adjustments as compared to existing regulations. | |||||||||||||||||||||||||
Under the Basel III Capital Rules, the initial minimum capital ratios as of January 1, 2015 will be as follows: | |||||||||||||||||||||||||
4.5% CET1 to risk-weighted assets. | |||||||||||||||||||||||||
6.0% Tier 1 capital to risk-weighted assets. | |||||||||||||||||||||||||
8.0% Total capital to risk-weighted assets. | |||||||||||||||||||||||||
4.0% Minimum leverage ratio | |||||||||||||||||||||||||
Implementation of the deductions and other adjustments to CET1 will begin on January 1, 2015 and will be phased-in over a 4-year period (beginning at 40% on January 1, 2015 and an additional 20% per year thereafter). Under the new rule, in order to avoid limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers, a banking organization must hold a capital conservation buffer composed of CET1 capital above its minimum risk-based capital requirements. The implementation of the capital conservation buffer will begin on January 1, 2016 at the 0.625% level and be phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). | |||||||||||||||||||||||||
Management believes that, as of June 30, 2014, the Company and BancFirst would meet all capital adequacy requirements under the Basel III Capital Rules on a fully phased-in basis as if such requirements were currently in effect. |
NET_INCOME_PER_COMMON_SHARE
NET INCOME PER COMMON SHARE | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
NET INCOME PER COMMON SHARE | ' | ||||||||||||
(8) NET INCOME PER COMMON SHARE | |||||||||||||
Basic and diluted net income per common share are calculated as follows: | |||||||||||||
Income | Shares | Per Share | |||||||||||
(Numerator) | (Denominator) | Amount | |||||||||||
(Dollars in thousands, except per share data) | |||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||
Basic | |||||||||||||
Income available to common stockholders | $ | 14,688 | 15,468,511 | $ | 0.94 | ||||||||
Effect of stock options | — | 363,669 | |||||||||||
Diluted | |||||||||||||
Income available to common stockholders plus assumed exercises of stock options | $ | 14,688 | 15,832,180 | $ | 0.92 | ||||||||
Three Months Ended June 30, 2013 | |||||||||||||
Basic | |||||||||||||
Income available to common stockholders | $ | 12,593 | 15,232,129 | $ | 0.83 | ||||||||
Effect of stock options | — | 247,620 | |||||||||||
Diluted | |||||||||||||
Income available to common stockholders plus assumed exercises of stock options | $ | 12,593 | 15,479,749 | $ | 0.82 | ||||||||
Six Months Ended June 30, 2014 | |||||||||||||
Basic | |||||||||||||
Income available to common stockholders | $ | 29,345 | 15,405,847 | $ | 1.9 | ||||||||
Effect of stock options | — | 353,942 | |||||||||||
Diluted | |||||||||||||
Income available to common stockholders plus assumed exercises of stock options | $ | 29,345 | 15,759,789 | $ | 1.86 | ||||||||
Six Months Ended June 30, 2013 | |||||||||||||
Basic | |||||||||||||
Income available to common stockholders | $ | 25,965 | 15,235,397 | $ | 1.7 | ||||||||
Effect of stock options | — | 246,473 | |||||||||||
Diluted | |||||||||||||
Income available to common stockholders plus assumed exercises of stock options | $ | 25,965 | 15,481,870 | $ | 1.68 | ||||||||
The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares: | |||||||||||||
Shares | Average | ||||||||||||
Exercise Price | |||||||||||||
Three Months Ended June 30, 2014 | 59,286 | $ | 54.89 | ||||||||||
Three Months Ended June 30, 2013 | 466,159 | 39.76 | |||||||||||
Six Months Ended June 30, 2014 | 67,155 | 54.15 | |||||||||||
Six Months Ended June 30, 2013 | 475,867 | 39.69 |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ' | ||||||||||||||||||||
(9) FAIR VALUE MEASUREMENTS | |||||||||||||||||||||
Accounting standards define fair value as the price that would be received to sell an asset or the price paid to transfer a liability in the principal or most advantageous market available to the entity in an orderly transaction between market participants on the measurement date. | |||||||||||||||||||||
FASB ASC Topic 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: | |||||||||||||||||||||
• | Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | ||||||||||||||||||||
• | Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset and liability, either directly or indirectly, for substantially the full term of the financial instrument. | ||||||||||||||||||||
• | Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. This category includes certain impaired loans, foreclosed assets, other real estate, goodwill and other intangible assets. | ||||||||||||||||||||
Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||||||
A description of the valuation methodologies and key inputs used to measure financial assets and financial liabilities at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to the following categories of the Company’s financial assets and financial liabilities. | |||||||||||||||||||||
Securities Available for Sale | |||||||||||||||||||||
Securities classified as available for sale are reported at fair value. U.S. Treasuries are valued using Level 1 inputs. Other securities available for sale including U.S. federal agencies, registered mortgage backed securities and state and political subdivisions are valued using prices from an independent pricing service utilizing Level 2 data. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The Company also invests in private label mortgage backed securities and equity securities classified as available for sale for which observable information is not readily available. These securities are reported at fair value utilizing Level 3 inputs. For these securities, management determines the fair value based on replacement cost, the income approach or information provided by outside consultants or lead investors. | |||||||||||||||||||||
The Company reviews the prices for Level 1 and Level 2 securities supplied by the independent pricing service for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities that are esoteric or that have complicated structures. The Company’s entire portfolio consists of traditional investments including U.S. Treasury obligations, federal agency mortgage pass-through securities, general obligation municipal bonds and a small amount of municipal revenue bonds. Pricing for such instruments is fairly generic and is easily obtained. For in-state bond issues that have relatively low issue sizes and liquidity, the Company utilizes the same parameters adjusted for the specific issue. 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 third party sources. | |||||||||||||||||||||
Derivatives | |||||||||||||||||||||
Derivatives are reported at fair value utilizing Level 2 inputs. The Company obtains dealer and market quotations to value its oil and gas swaps and options. The Company utilizes dealer quotes and observable market data inputs to substantiate internal valuation models. | |||||||||||||||||||||
Loans Held For Sale | |||||||||||||||||||||
The Company originates mortgage loans to be sold. At the time of origination, the acquiring bank has already been determined and the terms of the loan, including interest rate, have already been set by the acquiring bank, allowing the Company to originate the loan at fair value. Mortgage loans are generally sold within 30 days of origination. Loans held for sale are valued using Level 2 inputs. Gains or losses recognized upon the sale of the loans are determined on a specific identification basis. | |||||||||||||||||||||
Mortgage Servicing Intangibles | |||||||||||||||||||||
The Company acquired mortgage servicing intangibles with the acquisition of 1st Bank Oklahoma on July 12, 2011. Mortgage Servicing Intangibles are amortized based on current prepayment assumptions and are adjusted to fair value quarterly. Fair value is estimated based on the present value of future cash flows over several interest rate scenarios, which are then discounted at risk-adjusted rates. The Company considers portfolio characteristics, contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges, other ancillary revenue, costs to service and other economic factors. When available, fair value estimates and assumptions are compared to observable market data and the recent market activity and actual portfolio experience. | |||||||||||||||||||||
The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2014 and 2013, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
U.S. Treasury | $ | 229,549 | $ | — | $ | — | $ | 229,549 | |||||||||||||
U.S. federal agencies | — | 231,276 | — | 231,276 | |||||||||||||||||
Mortgage-backed securities | — | 11,471 | 17,089 | 28,560 | |||||||||||||||||
States and political subdivisions | — | 55,522 | — | 55,522 | |||||||||||||||||
Other securities | — | 3,484 | 12,741 | 16,225 | |||||||||||||||||
Derivative assets | — | 3,653 | — | 3,653 | |||||||||||||||||
Derivative liabilities | — | 2,084 | — | 2,084 | |||||||||||||||||
Loans held for sale | — | 9,519 | — | 9,519 | |||||||||||||||||
Mortgage servicing intangibles | — | — | 500 | 500 | |||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
U.S. Treasury | $ | 20,158 | $ | — | $ | — | $ | 20,158 | |||||||||||||
U.S. federal agencies | — | 404,522 | — | 404,522 | |||||||||||||||||
Mortgage-backed securities | — | 16,031 | — | 16,031 | |||||||||||||||||
States and political subdivisions | — | 51,929 | — | 51,929 | |||||||||||||||||
Other securities | — | 3,446 | 9,827 | 13,273 | |||||||||||||||||
Derivative assets | — | 2,200 | — | 2,200 | |||||||||||||||||
Derivative liabilities | — | 991 | — | 991 | |||||||||||||||||
Loans held for sale | — | 10,367 | — | 10,367 | |||||||||||||||||
Mortgage servicing intangibles | — | — | 638 | 638 | |||||||||||||||||
The changes in Level 3 assets measured at estimated fair value on a recurring basis during the six months ended June 30, 2014 and 2013 were as follows: | |||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||
June 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Balance at the beginning of the year | $ | 32,002 | $ | 10,779 | |||||||||||||||||
Purchases, issuances and settlements | (2,287 | ) | 239 | ||||||||||||||||||
Sales | (499 | ) | (121 | ) | |||||||||||||||||
Gains included in earnings | 382 | 5 | |||||||||||||||||||
Total unrealized gains (losses) | 732 | (437 | ) | ||||||||||||||||||
Balance at the end of the period | $ | 30,330 | $ | 10,465 | |||||||||||||||||
The Company’s policy is to recognize transfers in and transfers out of Levels 1, 2 and 3 as of the end of the reporting period. During the six months ended June 30, 2014 and 2013, the Company did not transfer any securities between levels in the fair value hierarchy. | |||||||||||||||||||||
Financial Assets and Financial Liabilities Measured at Fair Value on a Nonrecurring Basis | |||||||||||||||||||||
Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). These financial assets and financial liabilities are reported at fair value utilizing Level 3 inputs. | |||||||||||||||||||||
Impaired loans are reported at the fair value of the underlying collateral if repayment is dependent on liquidation of the collateral. In no case does the fair value of an impaired loan exceed the fair value of the underlying collateral. The impaired loans are adjusted to fair value through a specific allocation of the allowance for loan losses or a direct charge-down of the loan. | |||||||||||||||||||||
Foreclosed assets, upon initial recognition, are measured and adjusted to fair value through a charge-off to the allowance for possible loan losses based upon the fair value of the foreclosed asset. | |||||||||||||||||||||
Other real estate owned is revalued at fair value subsequent to initial recognition, with any losses recognized in net expense from other real estate owned. | |||||||||||||||||||||
The following table summarizes assets measured at fair value on a nonrecurring basis and the related gains or losses recognized during the period: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | Gains | |||||||||||||||||
Value | (Losses) | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||
Impaired loans (less specific allowance) | — | — | $ | 40,590 | $ | 40,590 | $ | — | |||||||||||||
Foreclosed assets | — | — | 292 | 292 | (23 | ) | |||||||||||||||
Other real estate owned | — | — | 6,114 | 6,114 | (71 | ) | |||||||||||||||
Six Months Ended June 30, 2013 | |||||||||||||||||||||
Impaired loans (less specific allowance) | — | — | $ | 39,035 | $ | 39,035 | $ | — | |||||||||||||
Foreclosed assets | — | — | 511 | 511 | 29 | ||||||||||||||||
Other real estate owned | — | — | 7,992 | 7,992 | (705 | ) | |||||||||||||||
Estimated Fair Value of Financial Instruments | |||||||||||||||||||||
The Company is required under current authoritative accounting guidance to disclose the estimated fair value of their financial instruments that are not recorded at fair value. For the Company, as for most financial institutions, substantially all of its assets and liabilities are considered financial instruments. A financial instrument is defined as cash, evidence of an ownership interest in an entity or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from a second entity. The following methods and assumptions were used to estimate the fair value of each class of financial instruments: | |||||||||||||||||||||
Cash and Cash Equivalents Include: Cash and Due from Banks; Federal Funds Sold and Interest-Bearing Deposits | |||||||||||||||||||||
The carrying amount of these short-term instruments is a reasonable estimate of fair value. | |||||||||||||||||||||
Securities Held for Investment | |||||||||||||||||||||
For securities held for investment, which are generally traded in secondary markets, fair values are based on quoted market prices or dealer quotes, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities making adjustments for credit or liquidity if applicable. | |||||||||||||||||||||
Loans | |||||||||||||||||||||
For certain homogeneous categories of loans, such as some residential mortgages, fair values are estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair values of other types of loans are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. | |||||||||||||||||||||
Deposits | |||||||||||||||||||||
The fair values of transaction and savings accounts are the amounts payable on demand at the reporting date. The fair values of fixed-maturity certificates of deposit are estimated using the rates currently offered for deposits of similar remaining maturities. | |||||||||||||||||||||
Short-term Borrowings | |||||||||||||||||||||
The amounts payable on these short-term instruments are reasonable estimates of fair value. | |||||||||||||||||||||
Long-term Borrowings | |||||||||||||||||||||
The fair values of fixed-rate long-term borrowings are estimated using the rates that would be charged for borrowings of similar remaining maturities. | |||||||||||||||||||||
Junior Subordinated Debentures | |||||||||||||||||||||
The fair values of junior subordinated debentures are estimated using the rates that would be charged for junior subordinated debentures of similar remaining maturities. | |||||||||||||||||||||
Loan Commitments and Letters of Credit | |||||||||||||||||||||
The fair values of commitments are estimated using the fees currently charged to enter into similar agreements, taking into account the terms of the agreements. The fair values of letters of credit are based on fees currently charged for similar agreements. | |||||||||||||||||||||
The estimated fair values of the Company’s financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows: | |||||||||||||||||||||
June 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||||||
Amount | Amount | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Level 2 inputs: | |||||||||||||||||||||
Cash and cash equivalents | $ | 1,856,437 | $ | 1,856,437 | $ | 1,720,239 | $ | 1,720,239 | |||||||||||||
Securities held for investment | 9,297 | 9,386 | 14,511 | 14,654 | |||||||||||||||||
Level 3 inputs: | |||||||||||||||||||||
Loans, net | 3,622,611 | 3,661,752 | 3,206,102 | 3,238,652 | |||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Level 2 inputs: | |||||||||||||||||||||
Deposits | 5,721,593 | 5,754,876 | 5,150,411 | 5,175,528 | |||||||||||||||||
Short-term borrowings | 12,317 | 12,317 | 3,522 | 3,522 | |||||||||||||||||
Long-term borrowings | — | — | 9,964 | 9,906 | |||||||||||||||||
Junior subordinated debentures | 26,804 | 28,948 | 26,804 | 28,991 | |||||||||||||||||
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS | |||||||||||||||||||||
Loan commitments | 1,791 | 1,574 | |||||||||||||||||||
Letters of credit | 426 | 437 | |||||||||||||||||||
Non-financial Assets and Non-financial Liabilities Measured at Fair Value | |||||||||||||||||||||
The Company has no non-financial assets or non-financial liabilities measured at fair value on a recurring basis. Certain non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis include intangible assets (excluding mortgage service rights, which are valued quarterly) and other non-financial long-lived assets measured at fair value and adjusted for impairment. These items are evaluated at least annually for impairment. The overall levels of non-financial assets and non-financial liabilities measured at fair value on a nonrecurring basis were not considered to be significant to the Company at June 30, 2014 or 2013. |
DERIVATIVE_FINANCIAL_INSTRUMEN
DERIVATIVE FINANCIAL INSTRUMENTS | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | ' | ||||||||||||||||
(10) DERIVATIVE FINANCIAL INSTRUMENTS | |||||||||||||||||
The Company enters into oil and gas swaps and options contracts to accommodate the business needs of its customers. Upon the origination of an oil or gas swap or option contract with a customer, the Company simultaneously enters into an offsetting contract with a counterparty to mitigate the exposure to fluctuations in oil and gas prices. These derivatives are not designated as hedged instruments and are recorded on the Company’s consolidated balance sheet at fair value. | |||||||||||||||||
The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models. The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Oil and Natural Gas Swaps and Options | Notional Units | Notional | Estimated | ||||||||||||||
Amount | Fair Value | ||||||||||||||||
(Notional amounts and dollars in thousands) | |||||||||||||||||
Oil | |||||||||||||||||
Derivative assets | Barrels | 452 | $ | 1,701 | |||||||||||||
Derivative liabilities | Barrels | (452 | ) | (1,207 | ) | ||||||||||||
Natural Gas | |||||||||||||||||
Derivative assets | MMBTUs | 1,625 | 1,952 | ||||||||||||||
Derivative liabilities | MMBTUs | (1,625 | ) | (877 | ) | ||||||||||||
Total Fair Value | Included in | ||||||||||||||||
Derivative assets | Other assets | 3,653 | |||||||||||||||
Derivative liabilities | Other liabilities | 2,084 | |||||||||||||||
The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Derivative income | $ | 149 | $ | 130 | $ | 298 | $ | 238 | |||||||||
The Company’s credit exposure on oil and gas swaps and options varies based on the current market prices of oil and natural gas. Other than credit risk, changes in the fair value of customer positions will be offset by equal and opposite changes in the counterparty positions. The net positive fair value of the contracts is the profit derived from the activity and is unaffected by market price movements. | |||||||||||||||||
Customer credit exposure is managed by strict position limits and is primarily offset by first liens on production while the remainder is offset by cash. Counterparty credit exposure is managed by selecting highly rated counterparties (rated A- or better by Standard and Poor’s) and monitoring market information. | |||||||||||||||||
The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank customers: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Credit exposure | $ | 3,499 | |||||||||||||||
Balance Sheet Offsetting | |||||||||||||||||
Derivatives may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements. The Company’s derivative transactions with upstream financial institution counterparties and bank customers are generally executed under International Swaps and Derivative Association (“ISDA”) master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Company does not generally offset such financial instruments for financial reporting purposes. |
SEGMENT_INFORMATION
SEGMENT INFORMATION | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
SEGMENT INFORMATION | ' | ||||||||||||||||||||||||
(11) SEGMENT INFORMATION | |||||||||||||||||||||||||
The Company evaluates its performance with an internal profitability measurement system that measures the profitability of its business units on a pre-tax basis. The four principal business units are metropolitan banks, community banks, other financial services and executive, operations and support. Metropolitan and community banks offer traditional banking products such as commercial and retail lending and a full line of deposit accounts. Metropolitan banks consist of banking locations in the metropolitan Oklahoma City and Tulsa areas. Community banks consist of banking locations in communities throughout Oklahoma. Other financial services are specialty product business units including guaranteed small business lending, residential mortgage lending, trust services, securities brokerage, electronic banking and insurance. The executive, operations and support groups represent executive management, operational support and corporate functions that are not allocated to the other business units. | |||||||||||||||||||||||||
The results of operations and selected financial information for the four business units are as follows: | |||||||||||||||||||||||||
Metropolitan | Community | Other | Executive, | Eliminations | Consolidated | ||||||||||||||||||||
Banks | Banks | Financial | Operations | ||||||||||||||||||||||
Services | & Support | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Three Months Ended: | |||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||
Net interest income (expense) | $ | 15,372 | $ | 28,955 | $ | 1,568 | $ | (406 | ) | $ | — | $ | 45,489 | ||||||||||||
Noninterest income | 3,463 | 12,973 | 6,329 | 15,919 | (15,073 | ) | 23,611 | ||||||||||||||||||
Income before taxes | 7,484 | 17,692 | 2,292 | 7,680 | (15,034 | ) | 20,114 | ||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||||||
Net interest income (expense) | $ | 13,943 | $ | 25,424 | $ | 1,730 | $ | (467 | ) | $ | — | $ | 40,630 | ||||||||||||
Noninterest income | 3,116 | 11,846 | 6,073 | 13,792 | (13,094 | ) | 21,733 | ||||||||||||||||||
Income before taxes | 8,108 | 14,512 | 2,158 | 7,643 | (13,029 | ) | 19,392 | ||||||||||||||||||
Six Months Ended: | |||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||
Net interest income (expense) | $ | 29,159 | $ | 56,196 | $ | 2,944 | $ | (781 | ) | $ | — | $ | 87,518 | ||||||||||||
Noninterest income | 6,876 | 25,239 | 13,385 | 31,874 | (30,201 | ) | 47,173 | ||||||||||||||||||
Income before taxes | 15,274 | 32,769 | 5,358 | 17,359 | (30,109 | ) | 40,651 | ||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||||||
Net interest income (expense) | $ | 27,954 | $ | 50,568 | $ | 3,295 | $ | (931 | ) | $ | — | $ | 80,886 | ||||||||||||
Noninterest income | 6,306 | 23,391 | 12,975 | 28,541 | (26,945 | ) | 44,268 | ||||||||||||||||||
Income before taxes | 17,045 | 28,589 | 5,395 | 15,737 | (26,827 | ) | 39,939 | ||||||||||||||||||
Total Assets: | |||||||||||||||||||||||||
June 30, 2014 | $ | 2,142,031 | $ | 4,087,728 | $ | 116,343 | $ | 657,743 | $ | (635,212 | ) | $ | 6,368,633 | ||||||||||||
December 31, 2013 | 2,079,444 | 3,764,429 | 103,656 | 703,294 | (611,849 | ) | 6,038,974 | ||||||||||||||||||
June 30, 2013 | 1,945,032 | 3,590,420 | 93,047 | 706,501 | (585,334 | ) | 5,749,666 | ||||||||||||||||||
The financial information for each business unit is presented on the basis used internally by management to evaluate performance and allocate resources. The Company utilizes a transfer pricing system to allocate the benefit or cost of funds provided or used by the various business units. Certain services provided by the support group to other business units, such as item processing, are allocated at rates approximating the cost of providing the services. Eliminations are adjustments to consolidate the business units and companies. Capital expenditures are generally charged to the business unit using the asset. |
DESCRIPTION_OF_BUSINESS_AND_SU1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying unaudited interim consolidated financial statements include the accounts of BancFirst Corporation, Council Oak Partners, LLC, BancFirst Insurance Services, Inc. and BancFirst and its subsidiaries. The principal operating subsidiaries of BancFirst are Council Oak Investment Corporation, Council Oak Real Estate, Inc., BancFirst Agency, Inc. and BancFirst Community Development Corporation. All significant intercompany accounts and transactions have been eliminated. Assets held in a fiduciary or agency capacity are not assets of the Company and, accordingly, are not included in the unaudited interim consolidated financial statements. | |
The accompanying unaudited interim consolidated financial statements and notes are presented in accordance with the instructions for Form 10-Q. The information contained in the financial statements and footnotes included in BancFirst Corporation’s Annual Report on Form 10-K for the year ended December 31, 2013, should be referred to in connection with these unaudited interim consolidated financial statements. | |
The unaudited interim consolidated financial statements contained herein reflect all adjustments which are, in the opinion of management, necessary to provide a fair statement of the financial position and results of operations of the Company for the interim periods presented. All such adjustments are of a normal and recurring nature. There have been no significant changes in the accounting policies of the Company since December 31, 2013, the date of the most recent annual report. | |
Use of Estimates in the Preparation of Financial Statements | ' |
Use of Estimates in the Preparation of Financial Statements | |
The preparation of financial statements in conformity with accounting principles generally accepted in the United States inherently involves the use of estimates and assumptions that affect the amounts reported in the financial statements and the related disclosures. These estimates relate principally to the determination of the allowance for loan losses, income taxes, the fair value of financial instruments and the valuation of intangibles. Such estimates and assumptions may change over time and actual amounts realized may differ from those reported. | |
Reclassifications | ' |
Reclassifications | |
Certain items in prior financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders’ equity or comprehensive income. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-04, “Receivables: Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (Topic 310-40).” ASU 2014-04 clarifies that an in-substance repossession or foreclosure occurs upon either the creditor obtaining legal title to the residential real estate property or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendments may be adopted using either a modified retrospective transition method or a prospective transition method. Early adoption is permitted. Adoption of ASU 2014-04 is not expected to have a significant effect on the Company’s financial statements. | |
In January 2014, the FASB issued ASU No. 2014-01, “Accounting for Investments in Affordable Housing Projects (Topic 323).” ASU 2014-01 revises the necessary criteria that need to be met in order for an entity to account for investments in affordable housing projects net of the provision for income taxes. It also changes the method of recognition from an effective amortization approach to a proportional amortization approach. Additional disclosures were also set forth in this update. The amendments are effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The amendments are required to be applied retrospectively to all periods presented. Early adoption is permitted and adoption of the standard is optional. Management is evaluating whether to adopt the principle and it is not expected to have a significant effect on the Company’s financial statements whether or not it is adopted. |
SECURITIES_Tables
SECURITIES (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Summary of Securities Held for Investment and Securities Available for Sale | ' | ||||||||||||||||
The following table summarizes securities held for investment and securities available for sale: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Held for investment, at cost (fair value: $9,386) | $ | 9,297 | |||||||||||||||
Available for sale, at fair value | 561,132 | ||||||||||||||||
Total | $ | 570,429 | |||||||||||||||
Summary of Amortized Cost and Estimated Fair Values of Securities Held for Investment | ' | ||||||||||||||||
The following table summarizes the amortized cost and estimated fair values of securities held for investment: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||
Gains | Losses | Value | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Mortgage backed securities (1) | $ | 533 | $ | 37 | $ | — | $ | 570 | |||||||||
States and political subdivisions | 8,764 | 52 | — | 8,816 | |||||||||||||
Total | $ | 9,297 | $ | 89 | $ | — | $ | 9,386 | |||||||||
Summary of Amortized Cost and Estimated Fair Values of Securities Available for Sale | ' | ||||||||||||||||
The following table summarizes the amortized cost and estimated fair values of securities available for sale: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||
Gains | Losses | Value | |||||||||||||||
(Dollars in thousands) | |||||||||||||||||
U.S. treasury and other federal agencies | $ | 458,976 | $ | 2,061 | $ | (212 | ) | $ | 460,825 | ||||||||
Mortgage backed securities (1) | 28,390 | 678 | (508 | ) | 28,560 | ||||||||||||
States and political subdivisions | 53,652 | 1,918 | (48 | ) | 55,522 | ||||||||||||
Other securities (2) | 12,126 | 4,276 | (177 | ) | 16,225 | ||||||||||||
Total | $ | 553,144 | $ | 8,933 | $ | (945 | ) | $ | 561,132 | ||||||||
-1 | Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies. | ||||||||||||||||
-2 | Primarily consists of equity securities. | ||||||||||||||||
Maturity of Securities | ' | ||||||||||||||||
The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity. | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Amortized | Estimated | ||||||||||||||||
Cost | Fair | ||||||||||||||||
Value | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Held for Investment | |||||||||||||||||
Contractual maturity of debt securities: | |||||||||||||||||
Within one year | $ | 1,586 | $ | 1,595 | |||||||||||||
After one year but within five years | 7,013 | 7,053 | |||||||||||||||
After five years but within ten years | 656 | 693 | |||||||||||||||
After ten years | 42 | 45 | |||||||||||||||
Total | $ | 9,297 | $ | 9,386 | |||||||||||||
Available for Sale | |||||||||||||||||
Contractual maturity of debt securities: | |||||||||||||||||
Within one year | $ | 60,097 | $ | 60,305 | |||||||||||||
After one year but within five years | 367,055 | 368,721 | |||||||||||||||
After five years but within ten years | 25,815 | 26,668 | |||||||||||||||
After ten years | 91,471 | 92,697 | |||||||||||||||
Total debt securities | 544,438 | 548,391 | |||||||||||||||
Equity securities | 8,706 | 12,741 | |||||||||||||||
Total | $ | 553,144 | $ | 561,132 | |||||||||||||
Company's Book Value of Pledged Securities | ' | ||||||||||||||||
The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Book value of pledged securities | $ | 415,206 |
LOANS_AND_ALLOWANCE_FOR_LOAN_L1
LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Loans Outstanding by Category | ' | ||||||||||||||||||||||||
The following is a schedule of loans outstanding by category: | |||||||||||||||||||||||||
June 30, 2014 | December 31, 2013 | June 30, 2013 | |||||||||||||||||||||||
Amount | Percent | Amount | Percent | Amount | Percent | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Commercial and industrial | $ | 677,425 | 18.48 | % | $ | 605,672 | 17.88 | % | $ | 529,253 | 16.31 | % | |||||||||||||
Oil & gas production & equipment | 110,913 | 3.03 | 96,907 | 2.86 | 145,735 | 4.49 | |||||||||||||||||||
Agriculture | 102,693 | 2.8 | 111,323 | 3.29 | 94,337 | 2.91 | |||||||||||||||||||
State and political subdivisions: | |||||||||||||||||||||||||
Taxable | 9,346 | 0.25 | 10,217 | 0.3 | 9,202 | 0.28 | |||||||||||||||||||
Tax-exempt | 10,803 | 0.29 | 11,073 | 0.33 | 12,392 | 0.38 | |||||||||||||||||||
Real estate: | |||||||||||||||||||||||||
Construction | 355,526 | 9.7 | 284,808 | 8.41 | 247,827 | 7.64 | |||||||||||||||||||
Farmland | 144,519 | 3.94 | 132,512 | 3.91 | 126,233 | 3.89 | |||||||||||||||||||
One to four family residences | 748,228 | 20.41 | 703,903 | 20.78 | 697,927 | 21.51 | |||||||||||||||||||
Multifamily residential properties | 60,430 | 1.65 | 60,080 | 1.77 | 48,128 | 1.48 | |||||||||||||||||||
Commercial | 1,160,079 | 31.65 | 1,097,484 | 32.4 | 1,070,807 | 33 | |||||||||||||||||||
Consumer | 258,745 | 7.06 | 250,588 | 7.4 | 243,799 | 7.51 | |||||||||||||||||||
Other (not classified above) | 27,201 | 0.74 | 22,579 | 0.67 | 19,444 | 0.6 | |||||||||||||||||||
Total loans | $ | 3,665,908 | 100 | % | $ | 3,387,146 | 100 | % | $ | 3,245,084 | 100 | % | |||||||||||||
Loans held for sale (included above) | $ | 9,519 | $ | 6,469 | $ | 10,367 | |||||||||||||||||||
Summary of Nonperforming and Restructured Assets | ' | ||||||||||||||||||||||||
The following is a summary of nonperforming and restructured assets: | |||||||||||||||||||||||||
June 30, | December 31, | June 30, | |||||||||||||||||||||||
2014 | 2013 | 2013 | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Past due 90 days or more and still accruing | $ | 1,789 | $ | 1,179 | $ | 850 | |||||||||||||||||||
Nonaccrual | 17,268 | 14,390 | 18,946 | ||||||||||||||||||||||
Restructured | 20,615 | 17,624 | 17,903 | ||||||||||||||||||||||
Total nonperforming and restructured loans | 39,672 | 33,193 | 37,699 | ||||||||||||||||||||||
Other real estate owned and repossessed assets | 6,406 | 8,386 | 8,503 | ||||||||||||||||||||||
Total nonperforming and restructured assets | $ | 46,078 | $ | 41,579 | $ | 46,202 | |||||||||||||||||||
Nonperforming and restructured loans to total loans | 1.08 | % | 0.98 | % | 1.16 | % | |||||||||||||||||||
Nonperforming and restructured assets to total assets | 0.72 | % | 0.69 | % | 0.8 | % | |||||||||||||||||||
Summary of Amounts Included in Nonaccrual Loans Segregated by Class of Loans | ' | ||||||||||||||||||||||||
The following table is a summary of amounts included in nonaccrual loans, segregated by class of loans. Residential real estate refers to one-to-four family real estate. | |||||||||||||||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 323 | $ | 516 | |||||||||||||||||||||
Non-residential real estate other | 5,436 | 9,195 | |||||||||||||||||||||||
Residential real estate permanent mortgage | 741 | 741 | |||||||||||||||||||||||
Residential real estate all other | 951 | 2,837 | |||||||||||||||||||||||
Non-consumer non-real estate | 1,265 | 1,268 | |||||||||||||||||||||||
Consumer non-real estate | 189 | 216 | |||||||||||||||||||||||
Other loans | 880 | 1,938 | |||||||||||||||||||||||
Acquired loans | 7,483 | 2,235 | |||||||||||||||||||||||
Total | $ | 17,268 | $ | 18,946 | |||||||||||||||||||||
Age Analysis of Past Due Loans Segregated by Class of Loans | ' | ||||||||||||||||||||||||
The following table presents an age analysis of past due loans, segregated by class of loans: | |||||||||||||||||||||||||
Age Analysis of Past Due Loans | |||||||||||||||||||||||||
30-89 | 90 Days | Total Past | Current | Total | Accruing | ||||||||||||||||||||
Days Past | and | Due Loans | Loans | Loans | Loans | ||||||||||||||||||||
Due | Greater | 90 Days | |||||||||||||||||||||||
or More | |||||||||||||||||||||||||
Past Due | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 477 | $ | 264 | $ | 741 | $ | 482,081 | $ | 482,822 | $ | 60 | |||||||||||||
Non-residential real estate other | 5,065 | 825 | 5,890 | 920,264 | 926,154 | — | |||||||||||||||||||
Residential real estate permanent mortgage | 2,224 | 656 | 2,880 | 282,749 | 285,629 | 180 | |||||||||||||||||||
Residential real estate all other | 1,545 | 892 | 2,437 | 598,454 | 600,891 | 538 | |||||||||||||||||||
Non-consumer non-real estate | 2,059 | 985 | 3,044 | 859,012 | 862,056 | 46 | |||||||||||||||||||
Consumer non-real estate | 2,256 | 313 | 2,569 | 230,774 | 233,343 | 219 | |||||||||||||||||||
Other loans | 1,695 | 356 | 2,051 | 146,218 | 148,269 | — | |||||||||||||||||||
Acquired loans | 3,506 | 4,989 | 8,495 | 118,249 | 126,744 | 746 | |||||||||||||||||||
Total | $ | 18,827 | $ | 9,280 | $ | 28,107 | $ | 3,637,801 | $ | 3,665,908 | $ | 1,789 | |||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 1,848 | $ | 138 | $ | 1,986 | $ | 444,231 | $ | 446,217 | $ | 120 | |||||||||||||
Non-residential real estate other | 230 | 3,056 | 3,286 | 801,821 | 805,107 | 51 | |||||||||||||||||||
Residential real estate permanent mortgage | 1,496 | 566 | 2,062 | 249,671 | 251,733 | 102 | |||||||||||||||||||
Residential real estate all other | 1,494 | 251 | 1,745 | 539,276 | 541,021 | 49 | |||||||||||||||||||
Non-consumer non-real estate | 3,519 | 816 | 4,335 | 745,327 | 749,662 | 32 | |||||||||||||||||||
Consumer non-real estate | 2,382 | 213 | 2,595 | 214,785 | 217,380 | 176 | |||||||||||||||||||
Other loans | 1,850 | 1,520 | 3,370 | 144,135 | 147,505 | — | |||||||||||||||||||
Acquired loans | 375 | 593 | 968 | 85,491 | 86,459 | 320 | |||||||||||||||||||
Total | $ | 13,194 | $ | 7,153 | $ | 20,347 | $ | 3,224,737 | $ | 3,245,084 | $ | 850 | |||||||||||||
Impaired Loans Segregated by Class of Loans | ' | ||||||||||||||||||||||||
The following table presents impaired loans, segregated by class of loans. No material amount of interest income was recognized on impaired loans subsequent to their classification as impaired. | |||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||
Unpaid | Recorded | Related | Average | ||||||||||||||||||||||
Principal | Investment | Allowance | Recorded | ||||||||||||||||||||||
Balance | with | Investment | |||||||||||||||||||||||
Allowance | |||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 542 | $ | 476 | $ | 22 | $ | 547 | |||||||||||||||||
Non-residential real estate other | 23,886 | 22,122 | 1,710 | 22,305 | |||||||||||||||||||||
Residential real estate permanent mortgage | 1,117 | 951 | 86 | 931 | |||||||||||||||||||||
Residential real estate all other | 1,768 | 1,581 | 215 | 1,310 | |||||||||||||||||||||
Non-consumer non-real estate | 4,407 | 4,082 | 512 | 2,151 | |||||||||||||||||||||
Consumer non-real estate | 568 | 553 | 141 | 542 | |||||||||||||||||||||
Other loans | 1,048 | 880 | 153 | 1,000 | |||||||||||||||||||||
Acquired loans | 19,347 | 12,872 | 88 | 13,152 | |||||||||||||||||||||
Total | $ | 52,683 | $ | 43,517 | $ | 2,927 | $ | 41,938 | |||||||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 814 | $ | 748 | $ | 28 | $ | 623 | |||||||||||||||||
Non-residential real estate other | 27,297 | 25,859 | 2,363 | 25,885 | |||||||||||||||||||||
Residential real estate permanent mortgage | 1,510 | 1,287 | 64 | 1,277 | |||||||||||||||||||||
Residential real estate all other | 3,694 | 3,294 | 1,189 | 3,985 | |||||||||||||||||||||
Non-consumer non-real estate | 1,816 | 1,481 | 390 | 1,536 | |||||||||||||||||||||
Consumer non-real estate | 517 | 495 | 79 | 419 | |||||||||||||||||||||
Other loans | 2,253 | 2,090 | 278 | 2,648 | |||||||||||||||||||||
Acquired loans | 10,359 | 8,230 | 58 | 8,511 | |||||||||||||||||||||
Total | $ | 48,260 | $ | 43,484 | $ | 4,449 | $ | 44,884 | |||||||||||||||||
Internal Loan Grading by Class of Loans | ' | ||||||||||||||||||||||||
The following table presents internal loan grading by class of loans: | |||||||||||||||||||||||||
Internal Loan Grading | |||||||||||||||||||||||||
Grade | |||||||||||||||||||||||||
1 | 2 | 3 | 4 | 5 | Total | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 406,862 | $ | 69,202 | $ | 6,375 | $ | 383 | $ | — | $ | 482,822 | |||||||||||||
Non-residential real estate other | 736,119 | 165,012 | 19,587 | 5,436 | — | 926,154 | |||||||||||||||||||
Residential real estate permanent mortgage | 253,932 | 24,765 | 5,967 | 965 | — | 285,629 | |||||||||||||||||||
Residential real estate all other | 501,090 | 91,707 | 6,859 | 1,235 | — | 600,891 | |||||||||||||||||||
Non-consumer non-real estate | 704,671 | 115,925 | 40,135 | 1,325 | — | 862,056 | |||||||||||||||||||
Consumer non-real estate | 220,053 | 11,160 | 1,637 | 493 | — | 233,343 | |||||||||||||||||||
Other loans | 145,004 | 2,373 | 615 | 87 | 190 | 148,269 | |||||||||||||||||||
Acquired loans | 66,721 | 42,798 | 8,679 | 8,137 | 409 | 126,744 | |||||||||||||||||||
Total | $ | 3,034,452 | $ | 522,942 | $ | 89,854 | $ | 18,061 | $ | 599 | $ | 3,665,908 | |||||||||||||
As of June 30, 2013 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 381,580 | $ | 58,923 | $ | 5,077 | $ | 637 | $ | — | $ | 446,217 | |||||||||||||
Non-residential real estate other | 650,422 | 124,831 | 20,609 | 9,245 | — | 805,107 | |||||||||||||||||||
Residential real estate permanent mortgage | 212,230 | 33,024 | 5,593 | 886 | — | 251,733 | |||||||||||||||||||
Residential real estate all other | 454,987 | 74,982 | 8,123 | 2,929 | — | 541,021 | |||||||||||||||||||
Non-consumer non-real estate | 649,542 | 94,045 | 4,737 | 1,338 | — | 749,662 | |||||||||||||||||||
Consumer non-real estate | 203,408 | 11,767 | 1,860 | 342 | 3 | 217,380 | |||||||||||||||||||
Other loans | 143,653 | 2,642 | 864 | 346 | — | 147,505 | |||||||||||||||||||
Acquired loans | 66,234 | 13,774 | 3,894 | 2,557 | — | 86,459 | |||||||||||||||||||
Total | $ | 2,762,056 | $ | 413,988 | $ | 50,757 | $ | 18,280 | $ | 3 | $ | 3,245,084 | |||||||||||||
Activity in All by Class of Loans | ' | ||||||||||||||||||||||||
The following table details activity in the ALL by class of loans for the period presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||||||||
ALL | |||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provisions | Balance | ||||||||||||||||||||
beginning | offs | charge- | charged to | at end of | |||||||||||||||||||||
of period | offs | operations | period | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 5,012 | $ | (18 | ) | $ | 34 | $ | 16 | $ | 213 | $ | 5,241 | ||||||||||||
Non-residential real estate other | 10,685 | — | — | — | 553 | 11,238 | |||||||||||||||||||
Residential real estate permanent mortgage | 3,237 | (32 | ) | 31 | (1 | ) | 74 | 3,310 | |||||||||||||||||
Residential real estate all other | 6,485 | (44 | ) | 10 | (34 | ) | 364 | 6,815 | |||||||||||||||||
Non-consumer non-real estate | 9,703 | (61 | ) | 16 | (45 | ) | 2,309 | 11,967 | |||||||||||||||||
Consumer non-real estate | 2,573 | (190 | ) | 46 | (144 | ) | 216 | 2,645 | |||||||||||||||||
Other loans | 2,072 | (188 | ) | 110 | (78 | ) | (1 | ) | 1,993 | ||||||||||||||||
Acquired loans | 157 | (148 | ) | 678 | 530 | (599 | ) | 88 | |||||||||||||||||
Total | $ | 39,924 | $ | (681 | ) | $ | 925 | $ | 244 | $ | 3,129 | $ | 43,297 | ||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 4,827 | $ | (22 | ) | $ | 65 | $ | 43 | $ | 371 | $ | 5,241 | ||||||||||||
Non-residential real estate other | 11,026 | — | 3 | 3 | 209 | 11,238 | |||||||||||||||||||
Residential real estate permanent mortgage | 2,825 | (162 | ) | 41 | (121 | ) | 606 | 3,310 | |||||||||||||||||
Residential real estate all other | 6,708 | (93 | ) | 14 | (79 | ) | 186 | 6,815 | |||||||||||||||||
Non-consumer non-real estate | 8,977 | (131 | ) | 30 | (101 | ) | 3,091 | 11,967 | |||||||||||||||||
Consumer non-real estate | 2,556 | (331 | ) | 108 | (223 | ) | 312 | 2,645 | |||||||||||||||||
Other loans | 1,991 | (251 | ) | 127 | (124 | ) | 126 | 1,993 | |||||||||||||||||
Acquired loans | 124 | (165 | ) | 683 | 518 | (554 | ) | 88 | |||||||||||||||||
Total | $ | 39,034 | $ | (1,155 | ) | $ | 1,071 | $ | (84 | ) | $ | 4,347 | $ | 43,297 | |||||||||||
ALL | |||||||||||||||||||||||||
Balance at | Charge- | Recoveries | Net | Provisions | Balance | ||||||||||||||||||||
beginning | offs | charge- | charged to | at end of | |||||||||||||||||||||
of period | offs | operations | period | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Three Months Ended June 30, 2013 | |||||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 4,866 | $ | (2 | ) | $ | 1 | $ | (1 | ) | $ | (151 | ) | $ | 4,714 | ||||||||||
Non-residential real estate other | 10,465 | (1 | ) | 6 | 5 | 396 | 10,866 | ||||||||||||||||||
Residential real estate permanent mortgage | 2,756 | (40 | ) | 4 | (36 | ) | 13 | 2,733 | |||||||||||||||||
Residential real estate all other | 7,165 | (59 | ) | 25 | (34 | ) | 218 | 7,349 | |||||||||||||||||
Non-consumer non-real estate | 8,982 | (69 | ) | 18 | (51 | ) | (180 | ) | 8,751 | ||||||||||||||||
Consumer non-real estate | 2,384 | (155 | ) | 61 | (94 | ) | 99 | 2,389 | |||||||||||||||||
Other loans | 1,822 | (20 | ) | 31 | 11 | 128 | 1,961 | ||||||||||||||||||
Acquired loans | 224 | (1 | ) | 3 | 2 | (7 | ) | 219 | |||||||||||||||||
Total | $ | 38,664 | $ | (347 | ) | $ | 149 | $ | (198 | ) | $ | 516 | $ | 38,982 | |||||||||||
Six Months Ended June 30, 2013 | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 5,104 | $ | (2 | ) | $ | 16 | $ | 14 | $ | (404 | ) | $ | 4,714 | |||||||||||
Non-residential real estate other | 9,865 | (19 | ) | 10 | (9 | ) | 1,010 | 10,866 | |||||||||||||||||
Residential real estate permanent mortgage | 2,781 | (96 | ) | 15 | (81 | ) | 33 | 2,733 | |||||||||||||||||
Residential real estate all other | 7,034 | (154 | ) | 27 | (127 | ) | 442 | 7,349 | |||||||||||||||||
Non-consumer non-real estate | 9,385 | (105 | ) | 49 | (56 | ) | (578 | ) | 8,751 | ||||||||||||||||
Consumer non-real estate | 2,451 | (295 | ) | 137 | (158 | ) | 96 | 2,389 | |||||||||||||||||
Other loans | 1,885 | (159 | ) | 31 | (128 | ) | 204 | 1,961 | |||||||||||||||||
Acquired loans | 220 | (50 | ) | 36 | (14 | ) | 13 | 219 | |||||||||||||||||
Total | $ | 38,725 | $ | (880 | ) | $ | 321 | $ | (559 | ) | $ | 816 | $ | 38,982 | |||||||||||
Allowance for Loan Losses Outstanding by Impairment Methodology | ' | ||||||||||||||||||||||||
The following table details the amount of ALL by class of loans for the period presented, detailed on the basis of the impairment methodology used by the Company. | |||||||||||||||||||||||||
ALL | |||||||||||||||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||||||||||||||
Individually | Collectively | Individually | Collectively | ||||||||||||||||||||||
evaluated for | evaluated for | evaluated for | evaluated for | ||||||||||||||||||||||
impairment | impairment | impairment | impairment | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 372 | $ | 4,869 | $ | 217 | $ | 4,497 | |||||||||||||||||
Non-residential real estate other | 1,881 | 9,357 | 2,663 | 8,203 | |||||||||||||||||||||
Residential real estate permanent mortgage | 539 | 2,771 | 222 | 2,511 | |||||||||||||||||||||
Residential real estate all other | 736 | 6,079 | 1,794 | 5,555 | |||||||||||||||||||||
Non-consumer non-real estate | 3,567 | 8,400 | 1,124 | 7,627 | |||||||||||||||||||||
Consumer non-real estate | 417 | 2,228 | 265 | 2,124 | |||||||||||||||||||||
Other loans | 190 | 1,803 | 231 | 1,730 | |||||||||||||||||||||
Acquired loans | — | 88 | — | 219 | |||||||||||||||||||||
Total | $ | 7,702 | $ | 35,595 | $ | 6,516 | $ | 32,466 | |||||||||||||||||
Loans Outstanding by Impairment Methodology | ' | ||||||||||||||||||||||||
The following table details the loans outstanding by class of loans for the period presented, on the basis of the impairment methodology used by the Company. | |||||||||||||||||||||||||
Loans | |||||||||||||||||||||||||
June 30, 2014 | June 30, 2013 | ||||||||||||||||||||||||
Individually | Collectively | Loans acquired | Individually | Collectively | Loans acquired | ||||||||||||||||||||
evaluated for | evaluated for | with | evaluated for | evaluated for | with | ||||||||||||||||||||
impairment | impairment | deteriorated | impairment | impairment | deteriorated | ||||||||||||||||||||
credit quality | credit quality | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Non-residential real estate owner occupied | $ | 6,758 | $ | 476,064 | $ | — | $ | 5,713 | $ | 440,503 | $ | — | |||||||||||||
Non-residential real estate other | 25,023 | 901,131 | — | 29,855 | 775,253 | — | |||||||||||||||||||
Residential real estate permanent mortgage | 6,932 | 278,697 | — | 6,479 | 245,254 | — | |||||||||||||||||||
Residential real estate all other | 8,094 | 592,797 | — | 11,052 | 529,969 | — | |||||||||||||||||||
Non-consumer non-real estate | 41,460 | 820,596 | — | 6,075 | 743,587 | — | |||||||||||||||||||
Consumer non-real estate | 2,130 | 231,213 | — | 2,205 | 215,175 | — | |||||||||||||||||||
Other loans | 324 | 147,945 | — | 280 | 147,225 | — | |||||||||||||||||||
Acquired loans | — | 109,519 | 17,225 | — | 80,008 | 6,451 | |||||||||||||||||||
Total | $ | 90,721 | $ | 3,557,962 | $ | 17,225 | $ | 61,659 | $ | 3,176,974 | $ | 6,451 | |||||||||||||
Transfers from Loans to Other Real Estate Owned and Repossessed Assets | ' | ||||||||||||||||||||||||
Transfers from loans to other real estate owned and repossessed assets during the periods presented, are summarized as follows: | |||||||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||
June 30, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Other real estate owned | $ | 525 | $ | 896 | |||||||||||||||||||||
Repossessed assets | 722 | 594 | |||||||||||||||||||||||
Total | $ | 1,247 | $ | 1,490 | |||||||||||||||||||||
INTANGIBLE_ASSETS_Tables
INTANGIBLE ASSETS (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Summary of Intangible Assets | ' | ||||||||||||||||||||
The following is a summary of intangible assets: | |||||||||||||||||||||
Gross | Accumulated | Net | |||||||||||||||||||
Carrying | Amortization | Carrying | |||||||||||||||||||
Amount | Amount | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
As of June 30, 2014 | |||||||||||||||||||||
Core deposit intangibles | $ | 13,198 | $ | (5,305 | ) | $ | 7,893 | ||||||||||||||
Customer relationship intangibles | 5,699 | (2,518 | ) | 3,181 | |||||||||||||||||
Mortgage servicing intangibles | 672 | (172 | ) | 500 | |||||||||||||||||
Total | $ | 19,569 | $ | (7,995 | ) | $ | 11,574 | ||||||||||||||
Summary of Goodwill by Business Segment | ' | ||||||||||||||||||||
The following is a summary of goodwill by business segment: | |||||||||||||||||||||
Metropolitan | Community | Other | Executive, | Consolidated | |||||||||||||||||
Banks | Banks | Financial | Operations | ||||||||||||||||||
Services | & Support | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Balance at December 31, 2013 | $ | 8,079 | $ | 30,552 | $ | 5,464 | $ | 450 | $ | 44,545 | |||||||||||
Acquisitions | — | 417 | — | — | 417 | ||||||||||||||||
Balance at June 30, 2014 | $ | 8,079 | $ | 30,969 | $ | 5,464 | $ | 450 | $ | 44,962 | |||||||||||
STOCKBASED_COMPENSATION_Tables
STOCK-BASED COMPENSATION (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Activity Under Stock Option Plan | ' | ||||||||||||||||
The following table is a summary of the activity under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan: | |||||||||||||||||
Options | Wgtd. Avg. | Wgtd. Avg. | Aggregate | ||||||||||||||
Exercise | Remaining | Intrinsic | |||||||||||||||
Price | Contractual | Value | |||||||||||||||
Term | |||||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||
Outstanding at December 31, 2013 | 1,158,317 | $ | 34.45 | ||||||||||||||
Options granted | 10,000 | 58.61 | |||||||||||||||
Options exercised | (63,625 | ) | 25.8 | ||||||||||||||
Options canceled, forfeited, or expired | — | — | |||||||||||||||
Outstanding at June 30, 2014 | 1,104,692 | 35.16 | 8.62Yr | $ | 29,667 | ||||||||||||
Exercisable at June 30, 2014 | 516,042 | 28.77 | 4.98Yr | $ | 17,094 | ||||||||||||
Options Granted and Options Exercised Under Stock Option Plan | ' | ||||||||||||||||
The following table has additional information regarding options granted and options exercised under both the BancFirst ISOP and the BancFirst Directors’ Stock Option Plan: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(Dollars in thousands, except per share data) | |||||||||||||||||
Weighted average grant-date fair value per share of options granted | $ | 12.33 | $ | 8.74 | $ | 12.33 | $ | 8.74 | |||||||||
Total intrinsic value of options exercised | 1,301 | 1,024 | 2,046 | 1,230 | |||||||||||||
Cash received from options exercised | 776 | 1,059 | 1,642 | 1,201 | |||||||||||||
Tax benefit realized from options exercised | 503 | 396 | 791 | 476 | |||||||||||||
Stock-based Employee Compensation Expense | ' | ||||||||||||||||
The following table is a summary of the Company’s recorded stock-based compensation expense: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Stock-based compensation expense | $ | 429 | $ | 321 | $ | 776 | $ | 695 | |||||||||
Tax benefit | (166 | ) | (124 | ) | (300 | ) | (269 | ) | |||||||||
Stock-based compensation expense, net of tax | $ | 263 | $ | 197 | $ | 476 | $ | 426 | |||||||||
Remaining Fair Value of Stock Options | ' | ||||||||||||||||
The Company will continue to amortize the remaining fair value of stock options over the remaining vesting period of approximately seven years. The following table shows the remaining fair value of stock options: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Fair value of stock options | $ | 4,549 | |||||||||||||||
Assumptions Used for Computing Stock-based Compensation Expense | ' | ||||||||||||||||
The following table shows the assumptions used for computing stock-based compensation expense under the fair value method: | |||||||||||||||||
Six Months Ended | |||||||||||||||||
June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Risk-free interest rate | 2.54 | % | 2.53 | % | |||||||||||||
Dividend yield | 2 | % | 2 | % | |||||||||||||
Stock price volatility | 18.98 | % | 18.36 | % | |||||||||||||
Expected term | 10Yrs | 10Yrs |
STOCKHOLDERS_EQUITY_Tables
STOCKHOLDERS' EQUITY (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Summary of Shares Repurchased Under Stock Purchase Program | ' | ||||||||||||||||||||||||
The following table is a summary of the shares under the program: | |||||||||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Number of shares repurchased | — | 17,191 | — | 40,241 | |||||||||||||||||||||
Average price of shares repurchased | — | $ | 40.83 | — | $ | 40.88 | |||||||||||||||||||
Shares remaining to be repurchased | 194,723 | 194,723 | 194,723 | 194,723 | |||||||||||||||||||||
Required Capital Amounts and Company's Respective Ratios | ' | ||||||||||||||||||||||||
The actual and required capital amounts and ratios are shown in the following table: | |||||||||||||||||||||||||
Actual | Required | To Be Well | |||||||||||||||||||||||
For Capital | Capitalized Under | ||||||||||||||||||||||||
Adequacy | Prompt Corrective | ||||||||||||||||||||||||
Purposes | Action Provisions | ||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
As of June 30, 2014: | |||||||||||||||||||||||||
Total Capital | |||||||||||||||||||||||||
(to Risk Weighted Assets)- | |||||||||||||||||||||||||
BancFirst Corporation | $ | 575,607 | 14.47 | % | $ | 325,487 | 8 | % | N/A | N/A | |||||||||||||||
BancFirst | 553,957 | 13.55 | % | 324,918 | 8 | % | $ | 406,147 | 10 | % | |||||||||||||||
Tier 1 Capital | |||||||||||||||||||||||||
(to Risk Weighted Assets)- | |||||||||||||||||||||||||
BancFirst Corporation | $ | 545,570 | 13.41 | % | $ | 162,744 | 4 | % | N/A | N/A | |||||||||||||||
BancFirst | 507,016 | 12.48 | % | 162,459 | 4 | % | $ | 243,688 | 6 | % | |||||||||||||||
Tier 1 Capital | |||||||||||||||||||||||||
(to Total Assets)- | |||||||||||||||||||||||||
BancFirst Corporation | $ | 545,570 | 8.64 | % | $ | 191,060 | 3 | % | N/A | N/A | |||||||||||||||
BancFirst | 507,016 | 8.05 | % | 190,452 | 3 | % | $ | 317,420 | 5 | % |
NET_INCOME_PER_COMMON_SHARE_Ta
NET INCOME PER COMMON SHARE (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Basic and Diluted Net Income Per Common Share | ' | ||||||||||||
Basic and diluted net income per common share are calculated as follows: | |||||||||||||
Income | Shares | Per Share | |||||||||||
(Numerator) | (Denominator) | Amount | |||||||||||
(Dollars in thousands, except per share data) | |||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||
Basic | |||||||||||||
Income available to common stockholders | $ | 14,688 | 15,468,511 | $ | 0.94 | ||||||||
Effect of stock options | — | 363,669 | |||||||||||
Diluted | |||||||||||||
Income available to common stockholders plus assumed exercises of stock options | $ | 14,688 | 15,832,180 | $ | 0.92 | ||||||||
Three Months Ended June 30, 2013 | |||||||||||||
Basic | |||||||||||||
Income available to common stockholders | $ | 12,593 | 15,232,129 | $ | 0.83 | ||||||||
Effect of stock options | — | 247,620 | |||||||||||
Diluted | |||||||||||||
Income available to common stockholders plus assumed exercises of stock options | $ | 12,593 | 15,479,749 | $ | 0.82 | ||||||||
Six Months Ended June 30, 2014 | |||||||||||||
Basic | |||||||||||||
Income available to common stockholders | $ | 29,345 | 15,405,847 | $ | 1.9 | ||||||||
Effect of stock options | — | 353,942 | |||||||||||
Diluted | |||||||||||||
Income available to common stockholders plus assumed exercises of stock options | $ | 29,345 | 15,759,789 | $ | 1.86 | ||||||||
Six Months Ended June 30, 2013 | |||||||||||||
Basic | |||||||||||||
Income available to common stockholders | $ | 25,965 | 15,235,397 | $ | 1.7 | ||||||||
Effect of stock options | — | 246,473 | |||||||||||
Diluted | |||||||||||||
Income available to common stockholders plus assumed exercises of stock options | $ | 25,965 | 15,481,870 | $ | 1.68 | ||||||||
Average Exercise Price of Options Excluded from Computation of Diluted Net Income Per Common Share | ' | ||||||||||||
The following table shows the number and average exercise price of options that were excluded from the computation of diluted net income per common share for each period because the options’ exercise prices were greater than the average market price of the common shares: | |||||||||||||
Shares | Average | ||||||||||||
Exercise Price | |||||||||||||
Three Months Ended June 30, 2014 | 59,286 | $ | 54.89 | ||||||||||
Three Months Ended June 30, 2013 | 466,159 | 39.76 | |||||||||||
Six Months Ended June 30, 2014 | 67,155 | 54.15 | |||||||||||
Six Months Ended June 30, 2013 | 475,867 | 39.69 |
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value of Financial Assets and Liabilities Measured on Recurring Basis | ' | ||||||||||||||||||||
The following table summarizes financial assets and financial liabilities measured at fair value on a recurring basis as of June 30, 2014 and 2013, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | ||||||||||||||||||
Inputs | Inputs | Inputs | Value | ||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
U.S. Treasury | $ | 229,549 | $ | — | $ | — | $ | 229,549 | |||||||||||||
U.S. federal agencies | — | 231,276 | — | 231,276 | |||||||||||||||||
Mortgage-backed securities | — | 11,471 | 17,089 | 28,560 | |||||||||||||||||
States and political subdivisions | — | 55,522 | — | 55,522 | |||||||||||||||||
Other securities | — | 3,484 | 12,741 | 16,225 | |||||||||||||||||
Derivative assets | — | 3,653 | — | 3,653 | |||||||||||||||||
Derivative liabilities | — | 2,084 | — | 2,084 | |||||||||||||||||
Loans held for sale | — | 9,519 | — | 9,519 | |||||||||||||||||
Mortgage servicing intangibles | — | — | 500 | 500 | |||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Securities available for sale: | |||||||||||||||||||||
U.S. Treasury | $ | 20,158 | $ | — | $ | — | $ | 20,158 | |||||||||||||
U.S. federal agencies | — | 404,522 | — | 404,522 | |||||||||||||||||
Mortgage-backed securities | — | 16,031 | — | 16,031 | |||||||||||||||||
States and political subdivisions | — | 51,929 | — | 51,929 | |||||||||||||||||
Other securities | — | 3,446 | 9,827 | 13,273 | |||||||||||||||||
Derivative assets | — | 2,200 | — | 2,200 | |||||||||||||||||
Derivative liabilities | — | 991 | — | 991 | |||||||||||||||||
Loans held for sale | — | 10,367 | — | 10,367 | |||||||||||||||||
Mortgage servicing intangibles | — | — | 638 | 638 | |||||||||||||||||
Changes in Level 3 Assets Measured at Estimated Fair Value on Recurring Basis | ' | ||||||||||||||||||||
The changes in Level 3 assets measured at estimated fair value on a recurring basis during the six months ended June 30, 2014 and 2013 were as follows: | |||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||
June 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Balance at the beginning of the year | $ | 32,002 | $ | 10,779 | |||||||||||||||||
Purchases, issuances and settlements | (2,287 | ) | 239 | ||||||||||||||||||
Sales | (499 | ) | (121 | ) | |||||||||||||||||
Gains included in earnings | 382 | 5 | |||||||||||||||||||
Total unrealized gains (losses) | 732 | (437 | ) | ||||||||||||||||||
Balance at the end of the period | $ | 30,330 | $ | 10,465 | |||||||||||||||||
Assets Measured at Fair Value on Nonrecurring Basis | ' | ||||||||||||||||||||
The following table summarizes assets measured at fair value on a nonrecurring basis and the related gains or losses recognized during the period: | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair | Gains | |||||||||||||||||
Value | (Losses) | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||
Impaired loans (less specific allowance) | — | — | $ | 40,590 | $ | 40,590 | $ | — | |||||||||||||
Foreclosed assets | — | — | 292 | 292 | (23 | ) | |||||||||||||||
Other real estate owned | — | — | 6,114 | 6,114 | (71 | ) | |||||||||||||||
Six Months Ended June 30, 2013 | |||||||||||||||||||||
Impaired loans (less specific allowance) | — | — | $ | 39,035 | $ | 39,035 | $ | — | |||||||||||||
Foreclosed assets | — | — | 511 | 511 | 29 | ||||||||||||||||
Other real estate owned | — | — | 7,992 | 7,992 | (705 | ) | |||||||||||||||
Estimated Fair Values of Company's Financial Instruments | ' | ||||||||||||||||||||
The estimated fair values of the Company’s financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows: | |||||||||||||||||||||
June 30, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Carrying | Fair Value | Carrying | Fair Value | ||||||||||||||||||
Amount | Amount | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||
FINANCIAL ASSETS | |||||||||||||||||||||
Level 2 inputs: | |||||||||||||||||||||
Cash and cash equivalents | $ | 1,856,437 | $ | 1,856,437 | $ | 1,720,239 | $ | 1,720,239 | |||||||||||||
Securities held for investment | 9,297 | 9,386 | 14,511 | 14,654 | |||||||||||||||||
Level 3 inputs: | |||||||||||||||||||||
Loans, net | 3,622,611 | 3,661,752 | 3,206,102 | 3,238,652 | |||||||||||||||||
FINANCIAL LIABILITIES | |||||||||||||||||||||
Level 2 inputs: | |||||||||||||||||||||
Deposits | 5,721,593 | 5,754,876 | 5,150,411 | 5,175,528 | |||||||||||||||||
Short-term borrowings | 12,317 | 12,317 | 3,522 | 3,522 | |||||||||||||||||
Long-term borrowings | — | — | 9,964 | 9,906 | |||||||||||||||||
Junior subordinated debentures | 26,804 | 28,948 | 26,804 | 28,991 | |||||||||||||||||
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS | |||||||||||||||||||||
Loan commitments | 1,791 | 1,574 | |||||||||||||||||||
Letters of credit | 426 | 437 |
DERIVATIVE_FINANCIAL_INSTRUMEN1
DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Notional Amounts and Estimated Fair Values of Outstanding Derivative Positions | ' | ||||||||||||||||
The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
Oil and Natural Gas Swaps and Options | Notional Units | Notional | Estimated | ||||||||||||||
Amount | Fair Value | ||||||||||||||||
(Notional amounts and dollars in thousands) | |||||||||||||||||
Oil | |||||||||||||||||
Derivative assets | Barrels | 452 | $ | 1,701 | |||||||||||||
Derivative liabilities | Barrels | (452 | ) | (1,207 | ) | ||||||||||||
Natural Gas | |||||||||||||||||
Derivative assets | MMBTUs | 1,625 | 1,952 | ||||||||||||||
Derivative liabilities | MMBTUs | (1,625 | ) | (877 | ) | ||||||||||||
Total Fair Value | Included in | ||||||||||||||||
Derivative assets | Other assets | 3,653 | |||||||||||||||
Derivative liabilities | Other liabilities | 2,084 | |||||||||||||||
Recognized Derivative Income Included in Other Noninterest Income | ' | ||||||||||||||||
The following table is a summary of the Company’s recognized income related to the activity, which was included in other noninterest income: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Derivative income | $ | 149 | $ | 130 | $ | 298 | $ | 238 | |||||||||
Summary of Company's Net Credit Exposure Relating to Oil and Gas Swaps | ' | ||||||||||||||||
The following table is a summary of the Company’s net credit exposure relating to oil and gas swaps and options with bank customers: | |||||||||||||||||
June 30, 2014 | |||||||||||||||||
(Dollars in thousands) | |||||||||||||||||
Credit exposure | $ | 3,499 |
SEGMENT_INFORMATION_Tables
SEGMENT INFORMATION (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Results of Operations and Selected Financial Information | ' | ||||||||||||||||||||||||
The results of operations and selected financial information for the four business units are as follows: | |||||||||||||||||||||||||
Metropolitan | Community | Other | Executive, | Eliminations | Consolidated | ||||||||||||||||||||
Banks | Banks | Financial | Operations | ||||||||||||||||||||||
Services | & Support | ||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Three Months Ended: | |||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||
Net interest income (expense) | $ | 15,372 | $ | 28,955 | $ | 1,568 | $ | (406 | ) | $ | — | $ | 45,489 | ||||||||||||
Noninterest income | 3,463 | 12,973 | 6,329 | 15,919 | (15,073 | ) | 23,611 | ||||||||||||||||||
Income before taxes | 7,484 | 17,692 | 2,292 | 7,680 | (15,034 | ) | 20,114 | ||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||||||
Net interest income (expense) | $ | 13,943 | $ | 25,424 | $ | 1,730 | $ | (467 | ) | $ | — | $ | 40,630 | ||||||||||||
Noninterest income | 3,116 | 11,846 | 6,073 | 13,792 | (13,094 | ) | 21,733 | ||||||||||||||||||
Income before taxes | 8,108 | 14,512 | 2,158 | 7,643 | (13,029 | ) | 19,392 | ||||||||||||||||||
Six Months Ended: | |||||||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||||||
Net interest income (expense) | $ | 29,159 | $ | 56,196 | $ | 2,944 | $ | (781 | ) | $ | — | $ | 87,518 | ||||||||||||
Noninterest income | 6,876 | 25,239 | 13,385 | 31,874 | (30,201 | ) | 47,173 | ||||||||||||||||||
Income before taxes | 15,274 | 32,769 | 5,358 | 17,359 | (30,109 | ) | 40,651 | ||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||||||
Net interest income (expense) | $ | 27,954 | $ | 50,568 | $ | 3,295 | $ | (931 | ) | $ | — | $ | 80,886 | ||||||||||||
Noninterest income | 6,306 | 23,391 | 12,975 | 28,541 | (26,945 | ) | 44,268 | ||||||||||||||||||
Income before taxes | 17,045 | 28,589 | 5,395 | 15,737 | (26,827 | ) | 39,939 | ||||||||||||||||||
Total Assets: | |||||||||||||||||||||||||
June 30, 2014 | $ | 2,142,031 | $ | 4,087,728 | $ | 116,343 | $ | 657,743 | $ | (635,212 | ) | $ | 6,368,633 | ||||||||||||
December 31, 2013 | 2,079,444 | 3,764,429 | 103,656 | 703,294 | (611,849 | ) | 6,038,974 | ||||||||||||||||||
June 30, 2013 | 1,945,032 | 3,590,420 | 93,047 | 706,501 | (585,334 | ) | 5,749,666 |
Recovered_Sheet1
Recent Developments Including Mergers and Acquisitions - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jan. 24, 2014 | Jun. 30, 2014 |
BancFirst [Member] | BancFirst [Member] | BancFirst [Member] | ||||
Performing [Member] | ||||||
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' | ' | ' | ' |
Deposits | ' | ' | ' | $225,600,000 | $302,000,000 | ' |
Loans | ' | ' | ' | ' | 121,000,000 | 83,600,000 |
Securities | ' | ' | ' | ' | 4,800,000 | ' |
Other real estate | ' | ' | ' | ' | 10,000 | ' |
Intangibles assets, net | 11,574,000 | 10,273,000 | 11,100,000 | ' | 2,200,000 | ' |
Goodwill | $44,962,000 | $44,545,000 | $44,545,000 | ' | $417,000 | ' |
Securities_Summary_of_Securiti
Securities - Summary of Securities Held for Investment and Securities Available for Sale (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Marketable Securities [Abstract] | ' | ' | ' |
Held for investment, at cost (fair value: $9,386) | $9,297 | ' | ' |
Available for sale, at fair value | 561,132 | ' | ' |
Total | $570,429 | $527,627 | $520,424 |
Securities_Summary_of_Securiti1
Securities - Summary of Securities Held for Investment and Securities Available for Sale (Parenthetical) (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Marketable Securities [Abstract] | ' |
Held for investment at fair value | $9,386 |
Securities_Summary_of_Amortize
Securities - Summary of Amortized Cost and Estimated Fair Values of Securities Held for Investment (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Amortized Cost | $9,297 |
Gross Unrealized Gains | 89 |
Gross Unrealized Losses | 0 |
Estimated Fair Value | 9,386 |
Mortgage-backed securities [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Amortized Cost | 533 |
Gross Unrealized Gains | 37 |
Gross Unrealized Losses | 0 |
Estimated Fair Value | 570 |
States and political subdivisions [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Amortized Cost | 8,764 |
Gross Unrealized Gains | 52 |
Gross Unrealized Losses | 0 |
Estimated Fair Value | $8,816 |
Securities_Summary_of_Amortize1
Securities - Summary of Amortized Cost and Estimated Fair Values of Securities Available for Sale (Detail) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $553,144 | ' |
Gross Unrealized Gains | 8,933 | ' |
Gross Unrealized Losses | -945 | ' |
Estimated Fair Value, Total | 561,132 | ' |
U.S. treasury and other federal agencies [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 458,976 | ' |
Gross Unrealized Gains | 2,061 | ' |
Gross Unrealized Losses | -212 | ' |
Estimated Fair Value, Total | 460,825 | ' |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 28,390 | ' |
Gross Unrealized Gains | 678 | ' |
Gross Unrealized Losses | -508 | ' |
Estimated Fair Value, Total | 28,560 | 16,031 |
States and political subdivisions [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 53,652 | ' |
Gross Unrealized Gains | 1,918 | ' |
Gross Unrealized Losses | -48 | ' |
Estimated Fair Value, Total | 55,522 | ' |
Other securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 12,126 | ' |
Gross Unrealized Gains | 4,276 | ' |
Gross Unrealized Losses | -177 | ' |
Estimated Fair Value, Total | $16,225 | ' |
Securities_Maturity_of_Securit
Securities - Maturity of Securities (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Amortized Cost And Fair Value Debt Securities [Abstract] | ' |
Amortized cost, Within one year | $1,586 |
Amortized cost, After one year but within five years | 7,013 |
Amortized cost, After five years but within ten years | 656 |
Amortized cost, After ten years | 42 |
Amortized cost, Total | 9,297 |
Amortized Cost, Within one year | 60,097 |
Amortized Cost, After one year but within five years | 367,055 |
Amortized Cost, After five years but within ten years | 25,815 |
Amortized Cost, After ten years | 91,471 |
Total debt securities | 544,438 |
Amortized Cost, Equity securities | 8,706 |
Amortized Cost, Total | 553,144 |
Estimated Fair Value, Within one year | 1,595 |
Estimated Fair Value, After one year but within five years | 7,053 |
Estimated Fair Value, After five years but within ten years | 693 |
Estimated Fair Value, After ten years | 45 |
Estimated Fair Value | 9,386 |
Estimated Fair Value, Within one year | 60,305 |
Estimated Fair Value, After one year but within five years | 368,721 |
Estimated Fair Value, After five years but within ten years | 26,668 |
Estimated Fair Value, After ten years | 92,697 |
Total debt securities | 548,391 |
Estimated Fair Value, Equity securities | 12,741 |
Estimated Fair Value, Total | $561,132 |
Securities_Companys_Book_Value
Securities - Company's Book Value of Pledged Securities (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Pledged Financial Instruments Not Separately Reported Securities Pledged By Type Of Security [Abstract] | ' |
Book value of pledged securities | $415,206 |
Recovered_Sheet2
Loans and Allowance for Loan Losses - Schedule of Loans Outstanding by Category (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans held for sale (included above) | $9,519 | $6,469 | $10,367 |
Total loans | 3,665,908 | 3,387,146 | 3,245,084 |
Percent | 100.00% | 100.00% | 100.00% |
Taxable [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 9,346 | 10,217 | 9,202 |
Percent | 0.25% | 0.30% | 0.28% |
Tax-exempt [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 10,803 | 11,073 | 12,392 |
Percent | 0.29% | 0.33% | 0.38% |
Commercial and industrial [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 677,425 | 605,672 | 529,253 |
Percent | 18.48% | 17.88% | 16.31% |
Agriculture [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 102,693 | 111,323 | 94,337 |
Percent | 2.80% | 3.29% | 2.91% |
Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 355,526 | 284,808 | 247,827 |
Percent | 9.70% | 8.41% | 7.64% |
Farmland [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 144,519 | 132,512 | 126,233 |
Percent | 3.94% | 3.91% | 3.89% |
One to four family residences [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 748,228 | 703,903 | 697,927 |
Percent | 20.41% | 20.78% | 21.51% |
Multifamily residential properties [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 60,430 | 60,080 | 48,128 |
Percent | 1.65% | 1.77% | 1.48% |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 1,160,079 | 1,097,484 | 1,070,807 |
Percent | 31.65% | 32.40% | 33.00% |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 258,745 | 250,588 | 243,799 |
Percent | 7.06% | 7.40% | 7.51% |
Other (not classified above) [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 27,201 | 22,579 | 19,444 |
Percent | 0.74% | 0.67% | 0.60% |
Oil & gas production & equipment [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | $110,913 | $96,907 | $145,735 |
Percent | 3.03% | 2.86% | 4.49% |
Recovered_Sheet3
Loans and Allowance for Loan Losses - Additional Information (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
SecurityLoan | ||
Receivables [Abstract] | ' | ' |
Percentage of loans secured by real estate | 60.00% | ' |
Interest income recognized | $481,000 | $978,000 |
Troubled debt restructuring principal deferral | 1 | ' |
Interest income on impaired loans | $0 | $0 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses - Summary of Nonperforming and Restructured Assets (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Summary Of Nonperforming And Restructured Assets [Abstract] | ' | ' | ' |
Past due 90 days or more and still accruing | $1,789 | $1,179 | $850 |
Nonaccrual | 17,268 | 14,390 | 18,946 |
Restructured | 20,615 | 17,624 | 17,903 |
Total nonperforming and restructured loans | 39,672 | 33,193 | 37,699 |
Other real estate owned and repossessed assets | 6,406 | 8,386 | 8,503 |
Total nonperforming and restructured assets | $46,078 | $41,579 | $46,202 |
Nonperforming and restructured loans to total loans | 1.08% | 0.98% | 1.16% |
Nonperforming and restructured assets to total assets | 0.72% | 0.69% | 0.80% |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses - Summary of Amounts Included in Nonaccrual Loans Segregated by Class of Loans (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | $17,268 | $14,390 | $18,946 |
Non-residential real estate owner occupied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | 323 | ' | 516 |
Non-residential real estate other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | 5,436 | ' | 9,195 |
Residential real estate permanent mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | 741 | ' | 741 |
Residential real estate all other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | 951 | ' | 2,837 |
Non-consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | 1,265 | ' | 1,268 |
Consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | 189 | ' | 216 |
Other loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | 880 | ' | 1,938 |
Acquired loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Nonaccrual loans, Total | $7,483 | ' | $2,235 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses - Age Analysis of Past Due Loans Segregated by Class of Loans (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | $18,827 | ' | $13,194 |
90 Days and Greater | 9,280 | ' | 7,153 |
Total Past Due Loans | 28,107 | ' | 20,347 |
Current Loans | 3,637,801 | ' | 3,224,737 |
Total Loans | 3,665,908 | 3,387,146 | 3,245,084 |
Accruing Loans 90 Days or More Past Due | 1,789 | 1,179 | 850 |
Non-residential real estate owner occupied [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 477 | ' | 1,848 |
90 Days and Greater | 264 | ' | 138 |
Total Past Due Loans | 741 | ' | 1,986 |
Current Loans | 482,081 | ' | 444,231 |
Total Loans | 482,822 | ' | 446,217 |
Accruing Loans 90 Days or More Past Due | 60 | ' | 120 |
Non-residential real estate other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 5,065 | ' | 230 |
90 Days and Greater | 825 | ' | 3,056 |
Total Past Due Loans | 5,890 | ' | 3,286 |
Current Loans | 920,264 | ' | 801,821 |
Total Loans | 926,154 | ' | 805,107 |
Accruing Loans 90 Days or More Past Due | 0 | ' | 51 |
Residential real estate permanent mortgage [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 2,224 | ' | 1,496 |
90 Days and Greater | 656 | ' | 566 |
Total Past Due Loans | 2,880 | ' | 2,062 |
Current Loans | 282,749 | ' | 249,671 |
Total Loans | 285,629 | ' | 251,733 |
Accruing Loans 90 Days or More Past Due | 180 | ' | 102 |
Residential real estate all other [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 1,545 | ' | 1,494 |
90 Days and Greater | 892 | ' | 251 |
Total Past Due Loans | 2,437 | ' | 1,745 |
Current Loans | 598,454 | ' | 539,276 |
Total Loans | 600,891 | ' | 541,021 |
Accruing Loans 90 Days or More Past Due | 538 | ' | 49 |
Non-consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 2,059 | ' | 3,519 |
90 Days and Greater | 985 | ' | 816 |
Total Past Due Loans | 3,044 | ' | 4,335 |
Current Loans | 859,012 | ' | 745,327 |
Total Loans | 862,056 | ' | 749,662 |
Accruing Loans 90 Days or More Past Due | 46 | ' | 32 |
Consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 2,256 | ' | 2,382 |
90 Days and Greater | 313 | ' | 213 |
Total Past Due Loans | 2,569 | ' | 2,595 |
Current Loans | 230,774 | ' | 214,785 |
Total Loans | 233,343 | ' | 217,380 |
Accruing Loans 90 Days or More Past Due | 219 | ' | 176 |
Other loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 1,695 | ' | 1,850 |
90 Days and Greater | 356 | ' | 1,520 |
Total Past Due Loans | 2,051 | ' | 3,370 |
Current Loans | 146,218 | ' | 144,135 |
Total Loans | 148,269 | ' | 147,505 |
Accruing Loans 90 Days or More Past Due | 0 | ' | 0 |
Acquired loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-89 Days Past Due | 3,506 | ' | 375 |
90 Days and Greater | 4,989 | ' | 593 |
Total Past Due Loans | 8,495 | ' | 968 |
Current Loans | 118,249 | ' | 85,491 |
Total Loans | 126,744 | ' | 86,459 |
Accruing Loans 90 Days or More Past Due | $746 | ' | $320 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses - Impaired Loans Segregated by Class of Loans (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | $52,683 | $48,260 |
Recorded Investment with Allowance | 43,517 | 43,484 |
Related Allowance | 2,927 | 4,449 |
Average Recorded Investment | 41,938 | 44,884 |
Non-residential real estate owner occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | 542 | 814 |
Recorded Investment with Allowance | 476 | 748 |
Related Allowance | 22 | 28 |
Average Recorded Investment | 547 | 623 |
Non-residential real estate other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | 23,886 | 27,297 |
Recorded Investment with Allowance | 22,122 | 25,859 |
Related Allowance | 1,710 | 2,363 |
Average Recorded Investment | 22,305 | 25,885 |
Residential real estate permanent mortgage [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | 1,117 | 1,510 |
Recorded Investment with Allowance | 951 | 1,287 |
Related Allowance | 86 | 64 |
Average Recorded Investment | 931 | 1,277 |
Residential real estate all other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | 1,768 | 3,694 |
Recorded Investment with Allowance | 1,581 | 3,294 |
Related Allowance | 215 | 1,189 |
Average Recorded Investment | 1,310 | 3,985 |
Non-consumer non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | 4,407 | 1,816 |
Recorded Investment with Allowance | 4,082 | 1,481 |
Related Allowance | 512 | 390 |
Average Recorded Investment | 2,151 | 1,536 |
Consumer non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | 568 | 517 |
Recorded Investment with Allowance | 553 | 495 |
Related Allowance | 141 | 79 |
Average Recorded Investment | 542 | 419 |
Other loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | 1,048 | 2,253 |
Recorded Investment with Allowance | 880 | 2,090 |
Related Allowance | 153 | 278 |
Average Recorded Investment | 1,000 | 2,648 |
Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Unpaid Principal Balance | 19,347 | 10,359 |
Recorded Investment with Allowance | 12,872 | 8,230 |
Related Allowance | 88 | 58 |
Average Recorded Investment | $13,152 | $8,511 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses - Internal Loan Grading by Class of Loans (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | $3,665,908 | $3,387,146 | $3,245,084 |
Non-residential real estate owner occupied [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 482,822 | ' | 446,217 |
Non-residential real estate other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 926,154 | ' | 805,107 |
Residential real estate permanent mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 285,629 | ' | 251,733 |
Residential real estate all other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 600,891 | ' | 541,021 |
Non-consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 862,056 | ' | 749,662 |
Consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 233,343 | ' | 217,380 |
Other loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 148,269 | ' | 147,505 |
Acquired loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 126,744 | ' | 86,459 |
Grade 1 [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 3,034,452 | ' | 2,762,056 |
Grade 1 [Member] | Non-residential real estate owner occupied [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 406,862 | ' | 381,580 |
Grade 1 [Member] | Non-residential real estate other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 736,119 | ' | 650,422 |
Grade 1 [Member] | Residential real estate permanent mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 253,932 | ' | 212,230 |
Grade 1 [Member] | Residential real estate all other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 501,090 | ' | 454,987 |
Grade 1 [Member] | Non-consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 704,671 | ' | 649,542 |
Grade 1 [Member] | Consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 220,053 | ' | 203,408 |
Grade 1 [Member] | Other loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 145,004 | ' | 143,653 |
Grade 1 [Member] | Acquired loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 66,721 | ' | 66,234 |
Grade 2 [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 522,942 | ' | 413,988 |
Grade 2 [Member] | Non-residential real estate owner occupied [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 69,202 | ' | 58,923 |
Grade 2 [Member] | Non-residential real estate other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 165,012 | ' | 124,831 |
Grade 2 [Member] | Residential real estate permanent mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 24,765 | ' | 33,024 |
Grade 2 [Member] | Residential real estate all other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 91,707 | ' | 74,982 |
Grade 2 [Member] | Non-consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 115,925 | ' | 94,045 |
Grade 2 [Member] | Consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 11,160 | ' | 11,767 |
Grade 2 [Member] | Other loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 2,373 | ' | 2,642 |
Grade 2 [Member] | Acquired loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 42,798 | ' | 13,774 |
Grade 3 [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 89,854 | ' | 50,757 |
Grade 3 [Member] | Non-residential real estate owner occupied [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 6,375 | ' | 5,077 |
Grade 3 [Member] | Non-residential real estate other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 19,587 | ' | 20,609 |
Grade 3 [Member] | Residential real estate permanent mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 5,967 | ' | 5,593 |
Grade 3 [Member] | Residential real estate all other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 6,859 | ' | 8,123 |
Grade 3 [Member] | Non-consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 40,135 | ' | 4,737 |
Grade 3 [Member] | Consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 1,637 | ' | 1,860 |
Grade 3 [Member] | Other loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 615 | ' | 864 |
Grade 3 [Member] | Acquired loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 8,679 | ' | 3,894 |
Grade 4 [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 18,061 | ' | 18,280 |
Grade 4 [Member] | Non-residential real estate owner occupied [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 383 | ' | 637 |
Grade 4 [Member] | Non-residential real estate other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 5,436 | ' | 9,245 |
Grade 4 [Member] | Residential real estate permanent mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 965 | ' | 886 |
Grade 4 [Member] | Residential real estate all other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 1,235 | ' | 2,929 |
Grade 4 [Member] | Non-consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 1,325 | ' | 1,338 |
Grade 4 [Member] | Consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 493 | ' | 342 |
Grade 4 [Member] | Other loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 87 | ' | 346 |
Grade 4 [Member] | Acquired loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 8,137 | ' | 2,557 |
Grade 5 [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 599 | ' | 3 |
Grade 5 [Member] | Non-residential real estate owner occupied [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 0 | ' | 0 |
Grade 5 [Member] | Non-residential real estate other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 0 | ' | 0 |
Grade 5 [Member] | Residential real estate permanent mortgage [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 0 | ' | 0 |
Grade 5 [Member] | Residential real estate all other [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 0 | ' | 0 |
Grade 5 [Member] | Non-consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 0 | ' | 0 |
Grade 5 [Member] | Consumer non-real estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 0 | ' | 3 |
Grade 5 [Member] | Other loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | 190 | ' | 0 |
Grade 5 [Member] | Acquired loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans | $409 | ' | $0 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses - Activity in All by Class of Loans (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | $39,924 | $38,664 | $39,034 | $38,725 |
Charge- offs | -681 | -347 | -1,155 | -880 |
Recoveries | 925 | 149 | 1,071 | 321 |
Net charge- offs | 244 | -198 | -84 | -559 |
Provisions charged to operations | 3,129 | 516 | 4,347 | 816 |
Balance at end of period | 43,297 | 38,982 | 43,297 | 38,982 |
Non-residential real estate owner occupied [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 5,012 | 4,866 | 4,827 | 5,104 |
Charge- offs | -18 | -2 | -22 | -2 |
Recoveries | 34 | 1 | 65 | 16 |
Net charge- offs | 16 | -1 | 43 | 14 |
Provisions charged to operations | 213 | -151 | 371 | -404 |
Balance at end of period | 5,241 | 4,714 | 5,241 | 4,714 |
Non-residential real estate other [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 10,685 | 10,465 | 11,026 | 9,865 |
Charge- offs | ' | -1 | ' | -19 |
Recoveries | ' | 6 | 3 | 10 |
Net charge- offs | ' | 5 | 3 | -9 |
Provisions charged to operations | 553 | 396 | 209 | 1,010 |
Balance at end of period | 11,238 | 10,866 | 11,238 | 10,866 |
Residential real estate permanent mortgage [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 3,237 | 2,756 | 2,825 | 2,781 |
Charge- offs | -32 | -40 | -162 | -96 |
Recoveries | 31 | 4 | 41 | 15 |
Net charge- offs | -1 | -36 | -121 | -81 |
Provisions charged to operations | 74 | 13 | 606 | 33 |
Balance at end of period | 3,310 | 2,733 | 3,310 | 2,733 |
Residential real estate all other [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 6,485 | 7,165 | 6,708 | 7,034 |
Charge- offs | -44 | -59 | -93 | -154 |
Recoveries | 10 | 25 | 14 | 27 |
Net charge- offs | -34 | -34 | -79 | -127 |
Provisions charged to operations | 364 | 218 | 186 | 442 |
Balance at end of period | 6,815 | 7,349 | 6,815 | 7,349 |
Non-consumer non-real estate [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 9,703 | 8,982 | 8,977 | 9,385 |
Charge- offs | -61 | -69 | -131 | -105 |
Recoveries | 16 | 18 | 30 | 49 |
Net charge- offs | -45 | -51 | -101 | -56 |
Provisions charged to operations | 2,309 | -180 | 3,091 | -578 |
Balance at end of period | 11,967 | 8,751 | 11,967 | 8,751 |
Consumer non-real estate [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 2,573 | 2,384 | 2,556 | 2,451 |
Charge- offs | -190 | -155 | -331 | -295 |
Recoveries | 46 | 61 | 108 | 137 |
Net charge- offs | -144 | -94 | -223 | -158 |
Provisions charged to operations | 216 | 99 | 312 | 96 |
Balance at end of period | 2,645 | 2,389 | 2,645 | 2,389 |
Other loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 2,072 | 1,822 | 1,991 | 1,885 |
Charge- offs | -188 | -20 | -251 | -159 |
Recoveries | 110 | 31 | 127 | 31 |
Net charge- offs | -78 | 11 | -124 | -128 |
Provisions charged to operations | -1 | 128 | 126 | 204 |
Balance at end of period | 1,993 | 1,961 | 1,993 | 1,961 |
Acquired loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 157 | 224 | 124 | 220 |
Charge- offs | -148 | -1 | -165 | -50 |
Recoveries | 678 | 3 | 683 | 36 |
Net charge- offs | 530 | 2 | 518 | -14 |
Provisions charged to operations | -599 | -7 | -554 | 13 |
Balance at end of period | $88 | $219 | $88 | $219 |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses - Allowance for Loan Losses Outstanding by Impairment Methodology (Detail) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | $7,702 | $6,516 |
Collectively evaluated for impairment | 35,595 | 32,466 |
Non-residential real estate owner occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 372 | 217 |
Collectively evaluated for impairment | 4,869 | 4,497 |
Non-residential real estate other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 1,881 | 2,663 |
Collectively evaluated for impairment | 9,357 | 8,203 |
Residential real estate permanent mortgage [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 539 | 222 |
Collectively evaluated for impairment | 2,771 | 2,511 |
Residential real estate all other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 736 | 1,794 |
Collectively evaluated for impairment | 6,079 | 5,555 |
Non-consumer non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 3,567 | 1,124 |
Collectively evaluated for impairment | 8,400 | 7,627 |
Consumer non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 417 | 265 |
Collectively evaluated for impairment | 2,228 | 2,124 |
Other loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 190 | 231 |
Collectively evaluated for impairment | 1,803 | 1,730 |
Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | ' | ' |
Collectively evaluated for impairment | $88 | $219 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses - Loans Outstanding by Impairment Methodology (Detail) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | $90,721 | $61,659 |
Collectively evaluated for impairment | 3,557,962 | 3,176,974 |
Loans acquired with deteriorated credit quality | 17,225 | 6,451 |
Non-residential real estate owner occupied [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 6,758 | 5,713 |
Collectively evaluated for impairment | 476,064 | 440,503 |
Non-residential real estate other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 25,023 | 29,855 |
Collectively evaluated for impairment | 901,131 | 775,253 |
Residential real estate permanent mortgage [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 6,932 | 6,479 |
Collectively evaluated for impairment | 278,697 | 245,254 |
Residential real estate all other [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 8,094 | 11,052 |
Collectively evaluated for impairment | 592,797 | 529,969 |
Non-consumer non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 41,460 | 6,075 |
Collectively evaluated for impairment | 820,596 | 743,587 |
Consumer non-real estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 2,130 | 2,205 |
Collectively evaluated for impairment | 231,213 | 215,175 |
Other loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | 324 | 280 |
Collectively evaluated for impairment | 147,945 | 147,225 |
Acquired loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Individually evaluated for impairment | ' | ' |
Collectively evaluated for impairment | 109,519 | 80,008 |
Loans acquired with deteriorated credit quality | $17,225 | $6,451 |
Recovered_Sheet4
Loans and Allowance for Loan Losses - Transfers from Loans to Other Real Estate Owned and Repossessed Assets (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Financing Receivable Allowance For Credit Loss Additional Information Transfer From Loans To Other Real Estate Owned And Repossessed Assets [Abstract] | ' | ' |
Other real estate owned | $525 | $896 |
Repossessed assets | 722 | 594 |
Total | $1,247 | $1,490 |
Intangible_Assets_Summary_of_I
Intangible Assets - Summary of Intangible Assets (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross Carrying Amount | $19,569 | ' | ' |
Accumulated Amortization | -7,995 | ' | ' |
Net Carrying Amount | 11,574 | 10,273 | 11,100 |
Core deposit intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross Carrying Amount | 13,198 | ' | ' |
Accumulated Amortization | -5,305 | ' | ' |
Net Carrying Amount | 7,893 | ' | ' |
Customer relationship intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross Carrying Amount | 5,699 | ' | ' |
Accumulated Amortization | -2,518 | ' | ' |
Net Carrying Amount | 3,181 | ' | ' |
Mortgage servicing intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross Carrying Amount | 672 | ' | ' |
Accumulated Amortization | -172 | ' | ' |
Net Carrying Amount | $500 | ' | ' |
Intangible_Assets_Summary_of_G
Intangible Assets - Summary of Goodwill By Business Segment (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Goodwill [Line Items] | ' | ' |
Balance at beginning of period | $44,545 | $44,545 |
Acquisitions | 417 | ' |
Balance at end of period | 44,962 | 44,545 |
Metropolitan Banks [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Balance at beginning of period | 8,079 | ' |
Acquisitions | 0 | ' |
Balance at end of period | 8,079 | ' |
Community Banks [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Balance at beginning of period | 30,552 | ' |
Acquisitions | 417 | ' |
Balance at end of period | 30,969 | ' |
Other Financial Services [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Balance at beginning of period | 5,464 | ' |
Acquisitions | 0 | ' |
Balance at end of period | 5,464 | ' |
Executive, Operations & Support [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Balance at beginning of period | 450 | ' |
Acquisitions | 0 | ' |
Balance at end of period | $450 | ' |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) | 6 Months Ended | 6 Months Ended | |||||
Jun. 30, 2014 | Jun. 30, 2014 | 31-May-14 | Jun. 30, 2014 | Jun. 30, 2014 | 31-May-13 | Jun. 30, 2014 | |
Non Employee Directors Stock Option Plan [Member] | Non Employee Directors Stock Option Plan [Member] | Non Employee Directors Stock Option Plan [Member] | Incentive Stock Option Plan [Member] | Incentive Stock Option Plan [Member] | Incentive Stock Option Plan [Member] | ||
Minimum [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Number of shares to be issued under incentive stock option plan | ' | ' | 230,000 | ' | ' | 3,000,000 | ' |
Shares for future grants | ' | 30,000 | ' | ' | 135,860 | ' | ' |
Option exercisable rate | ' | 25.00% | ' | ' | 25.00% | ' | ' |
Option exercisable period | ' | '1 year | ' | ' | '4 years | ' | ' |
Options expire period | ' | '15 years | ' | ' | '15 years | ' | ' |
Share based compensation options exercisable period | ' | '2017 | ' | ' | '2021 | ' | ' |
Stock price percentage to fair value at grant date | ' | ' | ' | 100.00% | ' | ' | 100.00% |
Options vest and exercisable Description | ' | 'The options are exercisable beginning one year from the date of grant at the rate of 25% per year for four years. | ' | ' | 'The options are exercisable beginning four years from the date of grant at the rate of 25% per year for four years. Options expire at the end of fifteen years from the date of grant. | ' | ' |
Stock option plan termination date | ' | ' | ' | ' | 31-Dec-19 | ' | ' |
Vesting period in years | ' | '4 years | ' | ' | '7 years | ' | ' |
Number of options granted for non-employee director | 10,000 | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Activity Under Stock Option Plan (Detail) (USD $) | 6 Months Ended |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Outstanding at beginning period - Options | 1,158,317 |
Options granted | 10,000 |
Options exercised | -63,625 |
Options canceled, forfeited or expired - Options | ' |
Outstanding at ending period - Options | 1,104,692 |
Exercisable at ending period - Options | 516,042 |
Outstanding at beginning period - Wgtd. Avg. Exercise Price | $34.45 |
Options granted - Wgtd. Avg. Exercise Price | $58.61 |
Options exercised - Wgtd. Avg. Exercise Price | $25.80 |
Options cancelled, forfeited, or expired - Wgtd. Avg. Exercise Price | ' |
Outstanding at ending period - Wgtd. Avg. Exercise Price | $35.16 |
Exercisable at ending period - Wgtd. Avg. Exercise Price | $28.77 |
Outstanding at ending period - Wgtd. Avg. Remaining Contractual Term, years | '8 years 7 months 13 days |
Exercisable at ending period - Wgtd. Avg. Remaining Contractual Term, years | '4 years 11 months 23 days |
Outstanding at ending period - Aggregate Intrinsic Value | $29,667 |
Exercisable at ending period - Aggregate Intrinsic Value | $17,094 |
StockBased_Compensation_Option
Stock-Based Compensation - Options Granted and Options Exercised Under Stock Option Plan (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Share Based Compensation Arrangement By Share Based Payment Award Options Additional Disclosures [Abstract] | ' | ' | ' | ' |
Weighted average grant-date fair value per share of options granted | $12.33 | $8.74 | $12.33 | $8.74 |
Total intrinsic value of options exercised | $1,301 | $1,024 | $2,046 | $1,230 |
Cash received from options exercised | 776 | 1,059 | 1,642 | 1,201 |
Tax benefit realized from options exercised | $503 | $396 | $791 | $476 |
StockBased_Compensation_StockB
Stock-Based Compensation - Stock-Based Employee Compensation Expense (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Labor And Related Expense [Abstract] | ' | ' | ' | ' |
Stock-based compensation expense | $429 | $321 | $776 | $695 |
Tax benefit | -166 | -124 | -300 | -269 |
Stock-based compensation expense, net of tax | $263 | $197 | $476 | $426 |
StockBased_Compensation_Remain
Stock-Based Compensation - Remaining Fair Value of Stock Options (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Remaining Fair Value Of Stock Options [Abstract] | ' |
Fair value of stock options | $4,549 |
StockBased_Compensation_Assump
Stock-Based Compensation - Assumptions Used for Computing Stock-Based Employee Compensation Expense (Detail) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract] | ' | ' |
Risk-free interest rate | 2.54% | 2.53% |
Dividend yield | 2.00% | 2.00% |
Stock price volatility | 18.98% | 18.36% |
Expected term | '10 years | '10 years |
Stockholders_Equity_Summary_of
Stockholders' Equity - Summary of Shares Repurchased Under Stock Purchase Program (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Summary Of Shares Repurchased Under Stock Purchase Program [Abstract] | ' | ' | ' | ' |
Number of shares repurchased | 0 | 17,191 | 0 | 40,241 |
Average price of shares repurchased | $0 | $40.83 | $0 | $40.88 |
Shares remaining to be repurchased | 194,723 | 194,723 | 194,723 | 194,723 |
Stockholders_Equity_Required_C
Stockholders' Equity - Required Capital Amounts and Company's Respective Ratios (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Tier 1 Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio | 6.00% |
Tier 1 Capital Required To Be Well Capitalized To Average assets Ratio | 5.00% |
Parent Company [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Total Capital To Risk Weighted Assets Actual Amount | 575,607 |
Total Capital To Risk Weighted Assets Actual Ratio | 14.47% |
Capital Required For Capital Adequacy Amount | 325,487 |
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio | 8.00% |
Tier 1 Risk Based Capital Amount | 545,570 |
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio | 13.41% |
Tier 1 Risk Based Capital Required For Capital Adequacy Amount | 162,744 |
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio | 4.00% |
Tier 1 Capital Amount | 545,570 |
Tier 1 Capital To Average Assets Ratio | 8.64% |
Tier 1 Capital Required For Capital Adequacy Amount | 191,060 |
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio | 3.00% |
BancFirst [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Total Capital To Risk Weighted Assets Actual Amount | 553,957 |
Total Capital To Risk Weighted Assets Actual Ratio | 13.55% |
Capital Required For Capital Adequacy Amount | 324,918 |
Capital Required For Capital Adequacy to Risk Weighted Assets Ratio | 8.00% |
Capital Required To Be Well Capitalized Amount | 406,147 |
Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio | 10.00% |
Tier 1 Risk Based Capital Amount | 507,016 |
Tier 1 Risk Based Capital To Risk Weighted Assets Ratio | 12.48% |
Tier 1 Risk Based Capital Required For Capital Adequacy Amount | 162,459 |
Tier 1 Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets Ratio | 4.00% |
Tier 1 Risk Based Capital Required To Be well Capitalized Amount | 243,688 |
Tier 1 Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets Ratio | 6.00% |
Tier 1 Capital Amount | 507,016 |
Tier 1 Capital To Average Assets Ratio | 8.05% |
Tier 1 Capital Required For Capital Adequacy Amount | 190,452 |
Tier 1 Capital Required For Capital Adequacy To Average Assets Ratio | 3.00% |
Tier 1 Capital Required To Be Well Capitalized Amount | 317,420 |
Tier 1 Capital Required To Be Well Capitalized To Average assets Ratio | 5.00% |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 6 Months Ended |
In Billions, unless otherwise specified | Jun. 30, 2014 |
Stockholders Equity [Line Items] | ' |
Minimum Tier 1 Ratio to be well capitalized | 6.00% |
Minimum combined Tier 1 and Tier 2 Ratio to be well capitalized | 10.00% |
Minimum Leverage Ratio to be well capitalized | 5.00% |
Maximum [Member] | ' |
Stockholders Equity [Line Items] | ' |
Quantitative limit for trust preferred securities to be included in tier 1 capital | 10 |
2015 [Member] | ' |
Stockholders Equity [Line Items] | ' |
Implementation of the deductions and other adjustments to CET1 | '4 years |
Implementation of the deductions and other adjustments to CET1, Percentage | 40.00% |
2015 [Member] | Minimum [Member] | ' |
Stockholders Equity [Line Items] | ' |
Minimum ratio of CET1 to risk-weighted assets | 4.50% |
Tier 1 capital to risk-weighted assets | 6.00% |
Total capital to risk weighted assets | 8.00% |
Minimum leverage ratio | 4.00% |
After 2015 [Member] | ' |
Stockholders Equity [Line Items] | ' |
Implementation of the deductions and other adjustments to CET1, Additional Percentage | 20.00% |
2016 [Member] | ' |
Stockholders Equity [Line Items] | ' |
Implementation of the capital conservation buffer, Percentage | 0.63% |
Capital conservation buffer implementation phase-out period | '4 years |
2019 [Member] | ' |
Stockholders Equity [Line Items] | ' |
Capital Conservation Buffer Maximum Level | 2.50% |
Net_Income_Per_Common_Share_Ba
Net Income Per Common Share - Basic and Diluted Net Income Per Common Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Earnings Per Share Reconciliation [Abstract] | ' | ' | ' | ' |
Income available to common stockholders | $14,688 | $12,593 | $29,345 | $25,965 |
Income available to common stockholders plus assumed exercises of stock options | $14,688 | $12,593 | $29,345 | $25,965 |
Income available to common stockholders - Shares | 15,468,511 | 15,232,129 | 15,405,847 | 15,235,397 |
Effect of stock options - Shares | 363,669 | 247,620 | 353,942 | 246,473 |
Income available to common stockholders plus assumed exercises of stock options - Shares | 15,832,180 | 15,479,749 | 15,759,789 | 15,481,870 |
Income available to common stockholders - Per Share Amount | $0.94 | $0.83 | $1.90 | $1.70 |
Income available to common stockholders plus assumed exercises of stock options - Per Share Amount | $0.92 | $0.82 | $1.86 | $1.68 |
Net_Income_Per_Common_Share_Av
Net Income Per Common Share - Average Exercise Prices of Options Excluded from Computation of Diluted Net Income Per Common Share (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 23, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share [Abstract] | ' | ' | ' | ' |
Shares | 59,286 | 466,159 | 67,155 | 475,867 |
Average Exercise Price | $54.89 | $39.76 | $54.15 | $39.69 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Debt Instrument Fair Value Disclosure [Abstract] | ' | ' |
Loan held for sale selling period | '30 days | ' |
Transfer of securities between levels of fair value hierarchy | $0 | $0 |
Amount of non-financial assets (liabilities) | 0 | 0 |
Non-financial assets or liabilities for which no impairment was provided | $0 | $0 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value of Financial Assets and Liabilities Measured on Recurring Basis (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | $561,132 | ' | ' |
Derivative assets | 3,653 | ' | 2,200 |
Derivative liabilities | 2,084 | ' | 991 |
Loans held for sale | 9,519 | 6,469 | 10,367 |
Mortgage servicing intangibles | 500 | ' | 638 |
U.S. Treasury [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 229,549 | ' | 20,158 |
U.S. federal agencies [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 231,276 | ' | 404,522 |
States and political subdivisions [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 55,522 | ' | 51,929 |
Other securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 16,225 | ' | 13,273 |
Mortgage-backed securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 28,560 | ' | 16,031 |
Level 1 Inputs [Member] | U.S. Treasury [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 229,549 | ' | 20,158 |
Level 2 Inputs [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Derivative assets | 3,653 | ' | 2,200 |
Derivative liabilities | 2,084 | ' | 991 |
Loans held for sale | 9,519 | ' | 10,367 |
Level 2 Inputs [Member] | U.S. federal agencies [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 231,276 | ' | 404,522 |
Level 2 Inputs [Member] | States and political subdivisions [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 55,522 | ' | 51,929 |
Level 2 Inputs [Member] | Other securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 3,484 | ' | 3,446 |
Level 2 Inputs [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 11,471 | ' | 16,031 |
Level 3 Inputs [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Mortgage servicing intangibles | 500 | ' | 638 |
Level 3 Inputs [Member] | Other securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | 12,741 | ' | 9,827 |
Level 3 Inputs [Member] | Mortgage-backed securities [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Securities available for sale | $17,089 | ' | ' |
Fair_Value_Measurements_Change
Fair Value Measurements - Changes in Level 3 Assets Measured at Estimated Fair Value on Recurring Basis (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation Calculation [Roll Forward] | ' | ' |
Balance at the beginning of the year | $32,002 | $10,779 |
Purchases, issuances and settlements | -2,287 | 239 |
Sales | -499 | -121 |
Gains included in earnings | 382 | 5 |
Total unrealized gains (losses) | 732 | -437 |
Balance at the end of the period | $30,330 | $10,465 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets Measured at Fair Value on Nonrecurring Basis (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Impaired loans (less specific allowance) [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Total Fair Value | $40,590 | $39,035 |
Gains (Losses) | 0 | ' |
Foreclosed Assets [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Total Fair Value | 292 | 511 |
Gains (Losses) | -23 | 29 |
Other real estate owned [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Total Fair Value | 6,114 | 7,992 |
Gains (Losses) | -71 | -705 |
Level 3 Inputs [Member] | Impaired loans (less specific allowance) [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Total Fair Value | 40,590 | 39,035 |
Level 3 Inputs [Member] | Foreclosed Assets [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Total Fair Value | 292 | 511 |
Level 3 Inputs [Member] | Other real estate owned [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Total Fair Value | $6,114 | $7,992 |
Fair_Value_Measurements_Estima
Fair Value Measurements - Estimated Fair Values of Company's Financial Instruments (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
FINANCIAL ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | $1,856,437 | $1,857,535 | $1,720,239 | $1,945,148 |
Securities held for investment | 9,297 | ' | ' | ' |
Loans, net | 3,622,611 | 3,348,112 | 3,206,102 | ' |
FINANCIAL LIABILITIES | ' | ' | ' | ' |
Deposits | 5,721,593 | 5,419,519 | 5,150,411 | ' |
Short-term borrowings | 12,317 | 4,590 | 3,522 | ' |
Long-term borrowings | ' | 6,938 | 9,964 | ' |
Junior subordinated debentures | 26,804 | 26,804 | 26,804 | ' |
Carrying Amount [Member] | Level 2 Inputs [Member] | ' | ' | ' | ' |
FINANCIAL ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | 1,856,437 | ' | 1,720,239 | ' |
Securities held for investment | 9,297 | ' | 14,511 | ' |
FINANCIAL LIABILITIES | ' | ' | ' | ' |
Deposits | 5,721,593 | ' | 5,150,411 | ' |
Short-term borrowings | 12,317 | ' | 3,522 | ' |
Long-term borrowings | ' | ' | 9,964 | ' |
Junior subordinated debentures | 26,804 | ' | 26,804 | ' |
Carrying Amount [Member] | Level 3 Inputs [Member] | ' | ' | ' | ' |
FINANCIAL ASSETS | ' | ' | ' | ' |
Loans, net | 3,622,611 | ' | 3,206,102 | ' |
Fair Value [Member] | ' | ' | ' | ' |
OFF-BALANCE SHEET FINANCIAL INSTRUMENTS | ' | ' | ' | ' |
Loan commitments | 1,791 | ' | 1,574 | ' |
Letters of credit | 426 | ' | 437 | ' |
Fair Value [Member] | Level 2 Inputs [Member] | ' | ' | ' | ' |
FINANCIAL ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | 1,856,437 | ' | 1,720,239 | ' |
Securities held for investment | 9,386 | ' | 14,654 | ' |
FINANCIAL LIABILITIES | ' | ' | ' | ' |
Deposits | 5,754,876 | ' | 5,175,528 | ' |
Short-term borrowings | 12,317 | ' | 3,522 | ' |
Long-term borrowings | ' | ' | 9,906 | ' |
Junior subordinated debentures | 28,948 | ' | 28,991 | ' |
Fair Value [Member] | Level 3 Inputs [Member] | ' | ' | ' | ' |
FINANCIAL ASSETS | ' | ' | ' | ' |
Loans, net | $3,661,752 | ' | $3,238,652 | ' |
Recovered_Sheet5
Derivative Financial Instruments - Notional Amounts and Estimated Fair Values of Outstanding Derivative Positions (Detail) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | Oil [Member] | Natural Gas [Member] | Other Liabilities [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' | ' |
Notional Units | ' | ' | 'Barrels | 'MMBTUs | ' | ' |
Derivative assets, Notional Amount | ' | ' | $452 | $1,625 | ' | ' |
Derivative assets, Estimated Fair Value | 3,653 | 2,200 | 1,701 | 1,952 | ' | 3,653 |
Derivative liabilities, Notional Amount | ' | ' | -452 | -1,625 | ' | ' |
Derivative liabilities, Estimated Fair Value | ($2,084) | ($991) | ($1,207) | ($877) | $2,084 | ' |
Recovered_Sheet6
Derivative Financial Instruments - Recognized Derivative Income Included in Other Noninterest Income (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Derivative Gain Loss On Derivative Net [Abstract] | ' | ' | ' | ' |
Derivative income | $149 | $130 | $298 | $238 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Summary of the Company's Net Credit Exposure Relating to Oil and Gas Swaps (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Credit Risk Derivatives At Fair Value Net [Abstract] | ' |
Credit exposure | $3,499 |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
Business_Unit | |
Segment Reporting [Abstract] | ' |
Number of principal business units | 4 |
Segment_Information_Results_of
Segment Information - Results of Operations and Selected Financial Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income (expense) | $45,489 | $40,630 | $87,518 | $80,886 | ' |
Noninterest income | 23,611 | 21,733 | 47,173 | 44,268 | ' |
Income before taxes | 20,114 | 19,392 | 40,651 | 39,939 | ' |
Total Assets | 6,368,633 | 5,749,666 | 6,368,633 | 5,749,666 | 6,038,974 |
Operating Segments [Member] | Metropolitan Banks [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income (expense) | 15,372 | 13,943 | 29,159 | 27,954 | ' |
Noninterest income | 3,463 | 3,116 | 6,876 | 6,306 | ' |
Income before taxes | 7,484 | 8,108 | 15,274 | 17,045 | ' |
Total Assets | 2,142,031 | 1,945,032 | 2,142,031 | 1,945,032 | 2,079,444 |
Operating Segments [Member] | Community Banks [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income (expense) | 28,955 | 25,424 | 56,196 | 50,568 | ' |
Noninterest income | 12,973 | 11,846 | 25,239 | 23,391 | ' |
Income before taxes | 17,692 | 14,512 | 32,769 | 28,589 | ' |
Total Assets | 4,087,728 | 3,590,420 | 4,087,728 | 3,590,420 | 3,764,429 |
Operating Segments [Member] | Other Financial Services [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income (expense) | 1,568 | 1,730 | 2,944 | 3,295 | ' |
Noninterest income | 6,329 | 6,073 | 13,385 | 12,975 | ' |
Income before taxes | 2,292 | 2,158 | 5,358 | 5,395 | ' |
Total Assets | 116,343 | 93,047 | 116,343 | 93,047 | 103,656 |
Operating Segments [Member] | Executive, Operations & Support [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income (expense) | -406 | -467 | -781 | -931 | ' |
Noninterest income | 15,919 | 13,792 | 31,874 | 28,541 | ' |
Income before taxes | 7,680 | 7,643 | 17,359 | 15,737 | ' |
Total Assets | 657,743 | 706,501 | 657,743 | 706,501 | 703,294 |
Eliminations [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Net interest income (expense) | 0 | ' | 0 | ' | ' |
Noninterest income | -15,073 | -13,094 | -30,201 | -26,945 | ' |
Income before taxes | -15,034 | -13,029 | -30,109 | -26,827 | ' |
Total Assets | ($635,212) | ($585,334) | ($635,212) | ($585,334) | ($611,849) |