Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 30, 2018 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | NBT BANCORP INC | |
Entity Central Index Key | 790,359 | |
Current Fiscal Year End Date | --12-31 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 43,632,377 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 |
Consolidated Balance Sheets (un
Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 157,498 | $ 156,852 |
Short-term interest bearing accounts | 2,081 | 2,812 |
Equity securities, at fair value | 21,992 | 0 |
Securities available for sale, at fair value | 1,265,912 | 1,255,925 |
Securities held to maturity (fair value $477,409 and $481,871, respectively) | 487,126 | 484,073 |
Trading securities | 0 | 11,467 |
Federal Reserve Bank and Federal Home Loan Bank stock | 43,778 | 46,706 |
Loans | 6,647,124 | 6,584,773 |
Less allowance for loan losses | 70,200 | 69,500 |
Net loans | 6,576,924 | 6,515,273 |
Premises and equipment, net | 80,073 | 81,305 |
Goodwill | 268,043 | 268,043 |
Intangible assets, net | 12,506 | 13,420 |
Bank owned life insurance | 173,735 | 172,388 |
Other assets | 141,166 | 128,548 |
Total assets | 9,230,834 | 9,136,812 |
Liabilities | ||
Demand (noninterest bearing) | 2,323,456 | 2,286,892 |
Savings, NOW and money market | 4,230,047 | 4,076,978 |
Time | 840,425 | 806,766 |
Total deposits | 7,393,928 | 7,170,636 |
Short-term borrowings | 586,012 | 719,123 |
Long-term debt | 88,824 | 88,869 |
Junior subordinated debt | 101,196 | 101,196 |
Other liabilities | 108,144 | 98,811 |
Total liabilities | 8,278,104 | 8,178,635 |
Stockholders' equity | ||
Preferred stock, $0.01 par value. Authorized 2,500,000 shares at March 31, 2018 and December 31, 2017 | 0 | 0 |
Common stock, $0.01 par value. Authorized 100,000,000 shares at March 31, 2018 and December 31, 2017; issued 49,651,493 at March 31, 2018 and December 31, 2017 | 497 | 497 |
Additional paid-in-capital | 574,626 | 574,209 |
Retained earnings | 555,783 | 543,713 |
Accumulated other comprehensive loss | (40,991) | (22,077) |
Common stock in treasury, at cost, 6,035,840 and 6,108,684 shares at March 31, 2018 and December 31, 2017, respectively | (137,185) | (138,165) |
Total stockholders' equity | 952,730 | 958,177 |
Total liabilities and stockholders' equity | $ 9,230,834 | $ 9,136,812 |
Consolidated Balance Sheets (u3
Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Securities held to maturity fair value | $ 477,409 | $ 481,871 |
Stockholders' equity | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 2,500,000 | 2,500,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 49,651,493 | 49,651,493 |
Common stock in treasury, at cost (in shares) | 6,035,840 | 6,108,684 |
Consolidated Statements of Inco
Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest, fee and dividend income | ||
Interest and fees on loans | $ 70,443 | $ 64,027 |
Securities available for sale | 6,926 | 7,009 |
Securities held to maturity | 2,625 | 2,781 |
Other | 766 | 619 |
Total interest, fee and dividend income | 80,760 | 74,436 |
Interest expense | ||
Deposits | 3,931 | 3,474 |
Short-term borrowings | 1,966 | 1,139 |
Long-term debt | 476 | 606 |
Junior subordinated debt | 901 | 726 |
Total interest expense | 7,274 | 5,945 |
Net interest income | 73,486 | 68,491 |
Provision for loan losses | 7,496 | 7,379 |
Net interest income after provision for loan losses | 65,990 | 61,112 |
Noninterest income | ||
Insurance and other financial services revenue | 6,504 | 6,770 |
Service charges on deposit accounts | 3,972 | 3,977 |
ATM and debit card fees | 5,273 | 4,950 |
Retirement plan administration fees | 5,339 | 4,172 |
Trust | 4,878 | 4,532 |
Bank owned life insurance | 1,347 | 1,411 |
Net securities gains | 72 | 0 |
Other | 3,892 | 2,938 |
Total noninterest income | 31,277 | 28,750 |
Noninterest expense | ||
Salaries and employee benefits | 36,567 | 33,587 |
Occupancy | 6,119 | 6,170 |
Data processing and communications | 4,279 | 4,198 |
Professional fees and outside services | 3,492 | 3,032 |
Equipment | 4,038 | 3,698 |
Office supplies and postage | 1,573 | 1,608 |
FDIC expenses | 1,201 | 1,178 |
Advertising | 337 | 390 |
Amortization of intangible assets | 914 | 967 |
Loan collection and other real estate owned, net | 1,337 | 1,279 |
Other | 4,415 | 5,175 |
Total noninterest expense | 64,272 | 61,282 |
Income before income tax expense | 32,995 | 28,580 |
Income tax expense | 7,009 | 8,301 |
Net income | $ 25,986 | $ 20,279 |
Earnings per share | ||
Basic (in dollars per share) | $ 0.60 | $ 0.47 |
Diluted (in dollars per share) | $ 0.59 | $ 0.46 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Consolidated Statements of Comprehensive Income (unaudited) [Abstract] | ||
Net income | $ 25,986 | $ 20,279 |
Other comprehensive (loss) income, net of tax: | ||
Unrealized net holding (losses) gains arising during the period (pre-tax amounts of ($15,454) and $836) | (11,590) | 497 |
Reclassification adjustment for an impairment write-down of equity security (pre-tax amounts of $- and $1,312) | 0 | 811 |
Unrealized gains on derivatives (cash flow hedges) (pre-tax amounts of $1,048 and $249) | 786 | 154 |
Reclassification of net unrealized (gains) losses on cash flow hedges to interest expense (pre-tax amounts of $(359) and $82) | (269) | 50 |
Amortization of unrealized net gains related to the reclassification of available for sale investment securities to held to maturity (pre-tax amounts of $188 and $238) | 141 | 147 |
Pension and other benefits: | ||
Amortization of prior service cost and actuarial gains (pre-tax amounts of $295 and $435) | 221 | 269 |
Total other comprehensive (loss) income | (10,711) | 1,928 |
Comprehensive income | $ 15,275 | $ 22,207 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Other comprehensive (loss) income, net of tax: | ||
Unrealized net holding (losses) gains arising during the period, pre-tax amounts | $ (15,454) | $ 836 |
Reclassification adjustment for an impairment write-down of equity security, pre-tax amounts | 0 | 1,312 |
Unrealized gains on derivatives (cash flow hedges), pre-tax amounts | 1,048 | 249 |
Reclassification of net unrealized (gains) losses on cash flow hedges to interest expense, pre-tax amounts | (359) | 82 |
Amortization of unrealized net gains and losses related to the reclassification of available for sale investment securities to held to maturity, pre-tax amounts | 188 | 238 |
Amortization of prior service cost and actuarial gains, pre-tax amounts | $ 295 | $ 435 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in-Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | Common Stock in Treasury [Member] | Total |
Balance at Dec. 31, 2016 | $ 497 | $ 575,078 | $ 501,761 | $ (21,520) | $ (142,500) | $ 913,316 |
Net income | 0 | 0 | 20,279 | 0 | 0 | 20,279 |
Cash dividends | 0 | 0 | (10,020) | 0 | 0 | (10,020) |
Net issuance of shares to employee benefit plans and other stock plans | 0 | (3,712) | 0 | 0 | 2,882 | (830) |
Stock-based compensation | 0 | 2,261 | (95) | 0 | 0 | 2,166 |
Other comprehensive income (loss) | 0 | 0 | 0 | 1,928 | 0 | 1,928 |
Balance at Mar. 31, 2017 | 497 | 573,627 | 511,925 | (19,592) | (139,618) | 926,839 |
ASU implementation | ASU 2016-01 [Member] | 0 | 0 | 1,475 | (2,628) | 0 | (1,153) |
ASU implementation | ASU 2018-02 [Member] | 0 | 0 | 5,575 | (5,575) | 0 | 0 |
Balance at Dec. 31, 2017 | 497 | 574,209 | 543,713 | (22,077) | (138,165) | 958,177 |
Net income | 0 | 0 | 25,986 | 0 | 0 | 25,986 |
Cash dividends | 0 | 0 | (20,966) | 0 | 0 | (20,966) |
Net issuance of shares to employee benefit plans and other stock plans | 0 | (2,037) | 0 | 0 | 980 | (1,057) |
Stock-based compensation | 0 | 2,454 | 0 | 0 | 0 | 2,454 |
Other comprehensive income (loss) | 0 | 0 | 0 | (10,711) | 0 | (10,711) |
Balance at Mar. 31, 2018 | $ 497 | $ 574,626 | $ 555,783 | $ (40,991) | $ (137,185) | $ 952,730 |
Consolidated Statements of Sto8
Consolidated Statements of Stockholders' Equity (unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Consolidated Statements of Stockholders' Equity (unaudited) [Abstract] | ||
Cash dividends - per share (in dollars per share) | $ 0.48 | $ 0.23 |
Net issuance of shares to employee benefit plans and other stock plans (in shares) | 72,844 | 184,651 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Operating activities | ||
Net income | $ 25,986 | $ 20,279 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Provision for loan losses | 7,496 | 7,379 |
Depreciation and amortization of premises and equipment | 2,327 | 2,249 |
Net amortization on securities | 1,081 | 1,267 |
Amortization of intangible assets | 914 | 967 |
Excess tax (benefit) on stock-based compensation | (407) | (1,472) |
Stock-based compensation expense | 2,454 | 2,166 |
Bank owned life insurance income | (1,347) | (1,411) |
Trading security purchases | 0 | (1,277) |
Net unrealized losses in trading securities | 0 | 491 |
Proceeds from sales of loans held for sale | 23,977 | 24,896 |
Originations and purchases of loans held for sale | (24,188) | (27,622) |
Net gains on sales of loans held for sale | (57) | (46) |
Net security (gains) | (72) | 0 |
Net (gain) loss on sales and write-down of other real estate owned | (174) | 157 |
Impairment write-down of equity security | 0 | 1,312 |
Net (increase) decrease in other assets | (7,272) | 3,539 |
Net increase (decrease) in other liabilities | 9,333 | (5,145) |
Net cash provided by operating activities | 40,051 | 27,729 |
Securities available for sale: | ||
Proceeds from maturities, calls and principal paydowns | 51,122 | 78,038 |
Proceeds from sales | 0 | 1,000 |
Purchases | (91,520) | (110,330) |
Securities held to maturity: | ||
Proceeds from maturities, calls and principal paydowns | 18,242 | 19,914 |
Purchases | (21,333) | (5,943) |
Equity securities: | ||
Proceeds from sales | 2,623 | 0 |
Other: | ||
Net increase in loans | (69,659) | (82,299) |
Proceeds from Federal Home Loan Bank stock redemption | 71,081 | 56,521 |
Purchases of Federal Reserve and Federal Home Loan Bank stock | (68,153) | (52,065) |
Purchases of premises and equipment, net | (1,186) | (1,269) |
Proceeds from the sales of other real estate owned | 534 | 2,430 |
Net cash (used in) investing activities | (108,249) | (94,003) |
Financing activities | ||
Net increase in deposits | 223,292 | 211,363 |
Net (decrease) in short-term borrowings | (133,111) | (141,460) |
Proceeds from issuance of long-term debt | 25,000 | 0 |
Repayments of long-term debt | (25,045) | (64) |
Proceeds from the issuance of shares to employee benefit plans and other stock plans | 672 | 1,983 |
Cash paid by employer for tax-withholding on stock issuance | (1,729) | (2,813) |
Cash dividends | (20,966) | (10,020) |
Net cash provided by financing activities | 68,113 | 58,989 |
Net (decrease) in cash and cash equivalents | (85) | (7,285) |
Cash and cash equivalents at beginning of period | 159,664 | 149,181 |
Cash and cash equivalents at end of period | 159,579 | 141,896 |
Cash paid during the year for: | ||
Interest expense | 7,677 | 6,363 |
Income taxes paid, net of refund | 3,199 | 1,019 |
Noncash investing activities: | ||
Loans transferred to other real estate owned | $ 780 | $ 3,946 |
Description of Business
Description of Business | 3 Months Ended |
Mar. 31, 2018 | |
Description of Business [Abstract] | |
Description of Business | 1. Description of Business NBT Bancorp Inc. (the "Registrant" or the "Company") is a registered financial holding company incorporated in the state of Delaware in 1986, with its principal headquarters located in Norwich, New York. The principal assets of the Registrant consist of all of the outstanding shares of common stock of its subsidiaries, including: NBT Bank, National Association (the "Bank"), NBT Financial Services, Inc. ("NBT Financial"), NBT Holdings, Inc. ("NBT Holdings"), Hathaway Agency, Inc. and CNBF Capital Trust I, NBT Statutory Trust I, NBT Statutory Trust II, Alliance Financial Capital Trust I and Alliance Financial Capital Trust II (collectively, the "Trusts"). The Company's principal sources of revenue are the management fees and dividends it receives from the Bank, NBT Financial and NBT Holdings. The Company's business, primarily conducted through the Bank but also through its other subsidiaries, consists of providing commercial banking, retail banking and wealth management services primarily to customers in its market area, which includes central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and the southern coastal Maine area. The Company has been, and intends to continue to be, a community-oriented financial institution offering a variety of financial services. The Company's business philosophy is to operate as a community bank with local decision-making providing a broad array of banking and financial services to retail, commercial and municipal customers. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | 2. Basis of Presentation The accompanying unaudited interim consolidated financial statements include the accounts of the Registrant and its wholly-owned subsidiaries, the Bank, NBT Financial and NBT Holdings. Collectively, the Registrant and its subsidiaries are referred to herein as "the Company." The interim data includes all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results for the interim periods in accordance with generally accepted accounting principles in the United States of America ("GAAP"). These unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our 2017 Annual Report on Form 10-K. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the full year or any other interim period. All intercompany transactions have been eliminated in consolidation. Amounts in the prior period financial statements are reclassified whenever necessary to conform to current period presentation. The Company has evaluated subsequent events for potential recognition and/or disclosure and there were none identified. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2018 | |
Securities [Abstract] | |
Securities | 3. Securities The amortized cost, estimated fair value and unrealized gains (losses) of available for sale ("AFS") securities are as follows: (In thousands) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value As of March 31, 2018 Federal agency $ 139,775 $ - $ 1,316 $ 138,459 State & municipal 39,700 31 345 39,386 Mortgage-backed: Government-sponsored enterprises 524,468 523 11,155 513,836 U.S. government agency securities 30,473 267 545 30,195 Collateralized mortgage obligations: Government-sponsored enterprises 511,727 243 15,541 496,429 U.S. government agency securities 48,944 151 1,488 47,607 Total AFS securities $ 1,295,087 $ 1,215 $ 30,390 $ 1,265,912 As of December 31, 2017 Federal agency $ 109,862 $ - $ 963 $ 108,899 State & municipal 42,171 62 277 41,956 Mortgage-backed: Government-sponsored enterprises 530,392 1,406 3,345 528,453 U.S. government agency securities 26,363 334 223 26,474 Collateralized mortgage obligations: Government-sponsored enterprises 496,033 254 10,114 486,173 U.S. government agency securities 50,721 165 1,065 49,821 Equity securities 10,623 3,672 146 14,149 Total AFS securities $ 1,266,165 $ 5,893 $ 16,133 $ 1,255,925 The amortized cost, estimated fair value and unrealized gains (losses) of securities held to maturity ("HTM") are as follows: (In thousands) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value As of March 31, 2018 Mortgage-backed: Government-sponsored enterprises $ 93,769 $ - $ 2,749 $ 91,020 U.S. government agency securities 389 47 - 436 Collateralized mortgage obligations: Government-sponsored enterprises 188,260 - 5,004 183,256 State & municipal 204,708 292 2,303 202,697 Total HTM securities $ 487,126 $ 339 $ 10,056 $ 477,409 As of December 31, 2017 Mortgage-backed: Government-sponsored enterprises $ 96,357 $ 85 $ 810 $ 95,632 U.S. government agency securities 418 57 - 475 Collateralized mortgage obligations: Government-sponsored enterprises 186,327 224 2,577 183,974 State & municipal 200,971 1,439 620 201,790 Total HTM securities $ 484,073 $ 1,805 $ 4,007 $ 481,871 Available for sale and held to maturity securities with amortized costs totaling $1.6 billion at March 31, 2018 and $1.5 billion at December 31, 2017 were pledged to secure public deposits and for other purposes required or permitted by law. Additionally, at March 31, 2018 and December 31, 2017, available for sale and held to maturity securities with an amortized cost of $218.3 million and $231.3 million, respectively, were pledged as collateral for securities sold under the repurchase agreements. The following table sets forth information with regard to investment securities with unrealized losses segregated according to the length of time the securities had been in a continuous unrealized loss position: Less than 12 months 12 months or longer Total (In thousands) Fair Value Unrealized Losses Number of Positions Fair Value Unrealized Losses Number of Positions Fair Value Unrealized Losses Number of Positions As of March 31, 2018 AFS securities: Federal agency $ 74,268 $ (459 ) 6 $ 64,191 $ (857 ) 6 $ 138,459 $ (1,316 ) 12 State & municipal 25,927 (271 ) 44 4,979 (74 ) 7 30,906 (345 ) 51 Mortgage-backed 440,714 (9,582 ) 90 55,185 (2,118 ) 25 495,899 (11,700 ) 115 Collateralized mortgage obligations 249,512 (5,330 ) 38 259,488 (11,699 ) 43 509,000 (17,029 ) 81 Total securities with unrealized losses $ 790,421 $ (15,642 ) 178 $ 383,843 $ (14,748 ) 81 $ 1,174,264 $ (30,390 ) 259 HTM securities: Mortgaged-backed $ 59,070 $ (1,344 ) 4 $ 31,950 $ (1,405 ) 2 $ 91,020 $ (2,749 ) 6 Collateralized mortgage obligations 147,877 (2,864 ) 23 35,379 (2,140 ) 6 183,256 (5,004 ) 29 State & municipal 74,241 (1,299 ) 118 15,177 (1,004 ) 24 89,418 (2,303 ) 142 Total securities with unrealized losses $ 281,188 $ (5,507 ) 145 $ 82,506 $ (4,549 ) 32 $ 363,694 $ (10,056 ) 177 As of December 31, 2017 AFS securities: Federal agency $ 64,653 $ (242 ) 5 $ 44,246 $ (721 ) 4 $ 108,899 $ (963 ) 9 State & municipal 23,566 (200 ) 39 5,994 (77 ) 8 29,560 (277 ) 47 Mortgage-backed 317,630 (2,381 ) 55 58,316 (1,187 ) 24 375,946 (3,568 ) 79 Collateralized mortgage obligations 227,917 (2,658 ) 35 275,303 (8,521 ) 42 503,220 (11,179 ) 77 Equity securities - - - 2,959 (146 ) 1 2,959 (146 ) 1 Total securities with unrealized losses $ 633,766 $ (5,481 ) 134 $ 386,818 $ (10,652 ) 79 $ 1,020,584 $ (16,133 ) 213 HTM securities: Mortgage -backed $ 15,477 $ (140 ) 2 $ 33,703 $ (670 ) 2 $ 49,180 $ (810 ) 4 Collateralized mortgage obligations 118,476 (1,064 ) 17 37,614 (1,513 ) 6 156,090 (2,577 ) 23 State & municipal 22,387 (132 ) 40 15,720 (488 ) 24 38,107 (620 ) 64 Total securities with unrealized losses $ 156,340 $ (1,336 ) 59 $ 87,037 $ (2,671 ) 32 $ 243,377 $ (4,007 ) 91 Declines in the fair value of HTM securities below their amortized cost, less any current period credit loss, that are deemed to be other-than-temporary are reflected in earnings as realized losses or in other comprehensive income. This classification is dependent upon whether the Company intends to sell the security, or whether it is more likely than not it will be required to sell the security before recovery. The other-than-temporary impairment ("OTTI") shall be recognized in earnings equal to the entire difference between the investment's amortized cost basis and its fair value at the balance sheet date. If the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss, the OTTI shall be separated into (a) the amount representing the credit loss and (b) the amount related to all other factors. The amount of the total OTTI related to the credit loss shall be recognized in earnings. The amount of the total OTTI related to other factors shall be recognized in other comprehensive income net of applicable taxes. In estimating OTTI losses, management considers, among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer and (iii) the historical and implied volatility of the fair value of the security. Management has the intent to hold the securities classified as HTM until they mature, at which time it is believed the Company will receive full value for the securities. The unrealized losses on HTM debt securities are due to increases in market interest rates over yields at the time the underlying securities were purchased. When necessary, the Company has performed a discounted cash flow analysis to determine whether or not it will receive the contractual principal and interest on certain securities. The fair value is expected to recover as the bonds approach their maturity date or if market yields for such investments decline. Management also has the intent to hold and will not be required to sell, the debt securities classified as AFS for a period of time sufficient for a recovery of cost, which may be until maturity. The unrealized losses on AFS debt securities are due to increases in market interest rates over the yields available at the time the underlying securities were purchased. When necessary, the Company has performed a discounted cash flow analysis to determine whether or not it will receive the contractual principal and interest on certain securities. For AFS debt securities, OTTI losses are recognized in earnings if the Company intends to sell the security. In other cases the Company considers the relevant factors noted above, as well as the Company's intent and ability to retain its investment for a period of time sufficient to allow for any anticipated recovery in market value and whether evidence exists to support a realizable value equal to or greater than the cost basis. Any impairment loss on an equity security is equal to the full difference between the cost basis and the fair value of the security. As of March 31, 2018 and December 31, 2017, management believes the impairments detailed in the table above are temporary. There were no OTTI losses realized in the Company's consolidated statement of income for the quarter ended March 31, 2018. For the quarter ended March 31, 2017, a $1.3 million impairment loss on an equity investment was realized in the Company's consolidated statements of income. The following tables set forth information with regard to gains and losses on equity securities for the quarter ended March 31, 2018: (In thousands) Net gains and losses recognized on equity securities $ 72 Less: Net gains and losses recognized during the period on equity securities sold during the period 44 Unrealized gains and losses recognized on equity securities still held at March 31, 2018 $ 28 As of March 31, 2018, the carrying value of equity securities without readily determinable fair values was $5.0 million. The Company performed a qualitative assessment to determine whether the investments were impaired and identified no areas of concern as of March 31, 2018. There were no impairments, downward or upward adjustments recognized for equity securities without readily determinable fair values during the quarter ended March 31, 2018. The following tables set forth information with regard to contractual maturities of debt securities at March 31, 2018: (In thousands) Amortized Cost Estimated Fair Value AFS debt securities: Within one year $ 99,647 $ 99,288 From one to five years 82,353 81,136 From five to ten years 175,040 172,862 After ten years 938,047 912,626 Total AFS debt securities $ 1,295,087 $ 1,265,912 HTM debt securities: Within one year $ 37,885 $ 37,885 From one to five years 43,089 43,159 From five to ten years 208,715 204,710 After ten years 197,437 191,655 Total HTM debt securities $ 487,126 $ 477,409 Maturities of mortgage-backed, collateralized mortgage obligations and asset-backed securities are stated based on their estimated average lives. Actual maturities may differ from estimated average lives or contractual maturities because, in certain cases, borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Except for U.S. Government securities, there were no holdings, when taken in the aggregate, of any single issuer that exceeded 10% of consolidated stockholders' equity at March 31, 2018 and December 31, 2017. |
Allowance for Loan Losses and C
Allowance for Loan Losses and Credit Quality of Loans | 3 Months Ended |
Mar. 31, 2018 | |
Allowance for Loan Losses and Credit Quality of Loans [Abstract] | |
Allowance for Loan Losses and Credit Quality of Loans | 4. Allowance for Loan Losses and Credit Quality of Loans Allowance for Loan Losses The allowance for loan losses is maintained at a level estimated by management to provide adequately for probable incurred losses inherent in the current loan portfolio. The appropriateness of the allowance for loan losses is continuously monitored. It is assessed for appropriateness using a methodology designed to ensure the level of the allowance reasonably reflects the loan portfolio's risk profile. It is evaluated to ensure that it is sufficient to absorb all reasonably estimable credit losses inherent in the current loan portfolio. To develop and document a systematic methodology for determining the allowance for loan losses, the Company has divided the loan portfolio into three segments, each with different risk characteristics and methodologies for assessing risk. Those segments are further segregated between our loans accounted for under the amortized cost method (referred to as "originated" loans) and loans acquired in a business combination (referred to as "acquired" loans). Each portfolio segment is broken down into class segments where appropriate. Class segments contain unique measurement attributes, risk characteristics and methods for monitoring and assessing risk that are necessary to develop the allowance for loan losses. Unique characteristics such as borrower type, loan type, collateral type, and risk characteristics define each class segment. As of March 31, 2018, the Company made adjustments to the class segments within the portfolios to better align risk characteristics and reflect the monitoring and assessment of risks as the portfolios continue to evolve. Agricultural Non-Real Estate and Agricultural Real Estate were consolidated with Commercial and Commercial Real Estate, respectively. Agricultural loans are a type of commercial loan with certain specific underwriting guidelines; however, the portfolio has decreased to less than 3% of the Commercial portfolio and separate classification was no longer warranted. The Indirect Lending class segment was further separated into Dealer Finance and Specialty Lending class segments. The growth in our Specialty Lending portfolio to 21% of C onsumer Loans warranted evaluation of this class separately due to different risk characteristics from Dealer Finance class segment. The Direct and Home Equity class segments were consolidated into Direct to reflect common management, similar underwriting and in-market focus. The change to the class segments in the allowance methodology did not have a significant impact on the allowance for loan losses. The following table illustrates the portfolio and class segments for the loan portfolio in 2018 compared to 2017 Portfolio Class - 2018 Class - 2017 Commercial Loans Commercial and Industrial Commercial Commercial Real Estate Commercial Real Estate Business Banking Agricultural Agricultural Real Estate Business Banking Consumer Loans Dealer Finance Indirect Specialty Lending Home Equity Direct Direct Residential Real Estate Mortgages Commercial Loans The Company offers a variety of commercial loan products including commercial (non-real estate), commercial real estate, agricultural, agricultural real estate and business banking loans. The Company's underwriting analysis for commercial loans typically includes credit verification, independent appraisals, a review of the borrower's financial condition and a detailed analysis of the borrower's underlying cash flows. Commercial and Industrial ("C&I") – Commercial Real Estate ("CRE") – Business Banking - Consumer Loans The Company offers a variety of consumer loan products including Dealer Finance, Specialty Lending and Direct loans. Dealer Finance – Specialty Lending – Direct – Residential Real Estate Mortgages Residential real estate loans consist primarily of loans secured by a first or second mortgage on primary residences. We originate adjustable-rate and fixed-rate, one-to-four-family residential real estate loans for the construction, purchase or refinancing of a mortgage. These loans are collateralized by owner-occupied properties located in the Company’s market area. When market conditions are favorable, for longer term, fixed-rate residential real estate mortgages without escrow, the Company retains the servicing, but sells the right to receive principal and interest to Freddie Mac. This practice allows the Company to manage interest rate risk, liquidity risk and credit risk. Loans on one-to-four-family residential real estate are generally originated in amounts of no more than 85% of the purchase price or appraised value (whichever is lower) or have private mortgage insurance. Mortgage title insurance and hazard insurance are normally required. Construction loans have a unique risk because they are secured by an incomplete dwelling. This risk is reduced through periodic site inspections, including one at each loan draw period. Allowance for Loan Loss Calculation For purposes of evaluating the adequacy of the allowance, the Company considers a number of significant factors that affect the collectability of the portfolio. For individually impaired loans, these include estimates of impairment, if any, which reflect the facts and circumstances that affect the likelihood of repayment of such loans as of the evaluation date. For homogeneous pools of loans, estimates of the Company's exposure to credit loss reflect a current assessment of a number of factors, which could affect collectability. These factors include: past loss experience, size, trend, composition and nature of loans; changes in lending policies and procedures, including underwriting standards and collection, charge-offs and recoveries; trends experienced in nonperforming and delinquent loans; current economic conditions in the Company's market; portfolio concentrations that may affect loss experienced across one or more components of the portfolio; the effect of external factors such as competition, legal and regulatory requirements; and the experience, ability, and depth of lending management and staff. In addition, various regulatory agencies, as an integral component of their examination process, periodically review the Company's allowance for loan losses. Such agencies may require the Company to make loan grade changes as well as recognize additions to the allowance based on their examinations. After a thorough consideration of the factors discussed above, any required additions or reductions to the allowance for loan losses are made periodically by charges or credits to the provision for loan losses. These charges are necessary to maintain the allowance at a level which management believes is reflective of overall level of incurred loss in the portfolio. While management uses available information to recognize losses on loans, additions and reductions of the allowance may fluctuate from one reporting period to another. These fluctuations are reflective of changes in risk associated with portfolio content or changes in management's assessment of any or all of the determining factors discussed above. The following tables illustrate the changes in the allowance for loan losses by our portfolio segments: (In thousands) Commercial Loans Consumer Loans Residential Real Estate Mortgages Total Balance as of December 31, 2017 $ 27,606 $ 36,830 $ 5,064 $ 69,500 Charge-offs (805 ) (7,687 ) (182 ) (8,674 ) Recoveries 187 1,644 47 1,878 Provision 1,202 6,186 108 7,496 Ending Balance as of March 31, 2018 $ 28,190 $ 36,973 $ 5,037 $ 70,200 Balance as of December 31, 2016 $ 25,444 $ 33,375 $ 6,381 $ 65,200 Charge-offs (1,294 ) (6,502 ) (598 ) (8,394 ) Recoveries 447 1,035 33 1,515 Provision 130 6,861 388 7,379 Ending Balance as of March 31, 2017 $ 24,727 $ 34,769 $ 6,204 $ 65,700 For acquired loans, to the extent that we experience deterioration in borrower credit quality resulting in a decrease in our expected cash flows subsequent to acquisition of the loans, an allowance for loan losses would be established based on our estimate of incurred losses at the balance sheet date. There was no allowance for loan losses for the acquired loan portfolio as of March 31, 2018 and December 31, 2017. Net charge-offs related to acquired loans totaled approximately $0.1 million and $0.4 million during the three months ended March 31, 2018 and March 31, 2017, respectively, and are included in the table above. The following tables illustrate the allowance for loan losses and the recorded investment by portfolio segments: (In thousands) Commercial Loans Consumer Loans Residential Real Estate Mortgages Total As of March 31, 2018 Allowance for loan losses $ 28,190 $ 36,973 $ 5,037 $ 70,200 Allowance for loans individually evaluated for impairment 42 - - 42 Allowance for loans collectively evaluated for impairment 28,148 36,973 5,037 70,158 Ending balance of loans 3,048,003 2,266,054 1,333,067 6,647,124 Ending balance of originated loans individually evaluated for impairment 6,006 8,305 6,771 21,082 Ending balance of acquired loans collectively evaluated for impairment 172,920 40,666 164,123 377,709 Ending balance of originated loans collectively evaluated for impairment $ 2,869,077 $ 2,217,083 $ 1,162,173 $ 6,248,333 As of December 31, 2017 Allowance for loan losses $ 27,606 $ 36,830 $ 5,064 $ 69,500 Allowance for loans individually evaluated for impairment 57 - - 57 Allowance for loans collectively evaluated for impairment 27,549 36,830 5,064 69,443 Ending balance of loans 3,028,269 2,234,809 1,321,695 6,584,773 Ending balance of originated loans individually evaluated for impairment 5,876 8,432 6,830 21,138 Ending balance of acquired loans collectively evaluated for impairment 187,313 43,906 170,472 401,691 Ending balance of originated loans collectively evaluated for impairment $ 2,835,080 $ 2,182,471 $ 1,144,393 $ 6,161,944 Credit Quality of Loans For all loan classes within the Company's loan portfolio, loans are placed on nonaccrual status when timely collection of principal and/or interest in accordance with contractual terms is in doubt. Loans are transferred to nonaccrual status generally when principal or interest payments become ninety days delinquent, unless the loan is well-secured and in the process of collection, or sooner when management concludes circumstances indicate that borrowers may be unable to meet contractual principal or interest payments. When a loan is transferred to a nonaccrual status, all interest previously accrued in the current period but not collected is reversed against interest income in that period. Interest accrued in a prior period and not collected is charged-off against the allowance for loan losses. If ultimate repayment of a nonaccrual loan is expected, any payments received are applied in accordance with contractual terms. If ultimate repayment of principal is not expected, any payment received on a nonaccrual loan is applied to principal until ultimate repayment becomes expected. For all loan classes within the Company's loan portfolio, nonaccrual loans are returned to accrual status when they become current as to principal and interest and demonstrate a period of performance under the contractual terms and, in the opinion of management, are fully collectible as to principal and interest. For loans in all portfolios, the principal amount is charged off in full or in part as soon as management determines, based on available facts, that the collection of principal in full or in part is improbable. For commercial loans, management considers specific facts and circumstances relative to individual credits in making such a determination. For consumer and residential loan classes, management uses specific guidance and thresholds from the Federal Financial Institutions Examination Council's Uniform Retail Credit Classification and Account Management Policy. The following tables set forth information with regard to past due and nonperforming loans by loan class: (In thousands) 31-60 Days Past Due Accruing 61-90 Days Past Due Accruing Greater Than 90 Days Past Due Accruing Total Past Due Accruing NonAccrual Current Recorded Total Loans As of March 31, 2018 Originated Commercial Loans: C&I $ 639 $ 1,268 $ - $ 1,907 $ 1,196 $ 784,845 $ 787,948 CRE 28 - - 28 5,232 1,600,096 1,605,356 Business Banking 2,116 797 - 2,913 6,194 472,672 481,779 Total Commercial Loans $ 2,783 $ 2,065 $ - $ 4,848 $ 12,622 $ 2,857,613 $ 2,875,083 Consumer Loans: Dealer Finance $ 10,850 $ 1,920 $ 987 $ 13,757 $ 2,201 $ 1,224,238 $ 1,240,196 Specialty Lending 3,843 1,627 1,292 6,762 - 464,912 471,674 Direct 2,334 982 401 3,717 2,470 507,331 513,518 Total Consumer Loans $ 17,027 $ 4,529 $ 2,680 $ 24,236 $ 4,671 $ 2,196,481 $ 2,225,388 Residential Real Estate Mortgages $ 2,389 $ 1,635 $ 203 $ 4,227 $ 5,487 $ 1,159,230 $ 1,168,944 Total Originated Loans $ 22,199 $ 8,229 $ 2,883 $ 33,311 $ 22,780 $ 6,213,324 $ 6,269,415 Acquired Commercial Loans: C&I $ - $ - $ - $ - $ - $ 33,484 $ 33,484 CRE - - - - 2 97,463 97,465 Business Banking 539 9 - 548 673 40,750 41,971 Total Commercial Loans $ 539 $ 9 $ - $ 548 $ 675 $ 171,697 $ 172,920 Consumer Loans: Dealer Finance $ 7 $ 3 $ - $ 10 $ 15 $ 577 $ 602 Direct 368 - 51 419 281 39,364 40,064 Total Consumer Loans $ 375 $ 3 $ 51 $ 429 $ 296 $ 39,941 $ 40,666 Residential Real Estate Mortgages $ 565 $ 102 $ - $ 667 $ 1,675 $ 161,781 $ 164,123 Total Acquired Loans $ 1,479 $ 114 $ 51 $ 1,644 $ 2,646 $ 373,419 $ 377,709 Total Loans $ 23,678 $ 8,343 $ 2,934 $ 34,955 $ 25,426 $ 6,586,743 $ 6,647,124 (In thousands) 31-60 Days Past Due Accruing 61-90 Days Past Due Accruing Greater Than 90 Days Past Due Accruing Total Past Due Accruing Non-Accrual Current Recorded Total Loans As of December 31, 2017 Originated Commercial Loans: Commercial $ - $ - $ - $ - $ 202 $ 753,577 $ 753,779 Commercial Real Estate 161 138 - 299 3,178 1,533,065 1,536,542 Agricultural 117 - - 117 1,043 34,386 35,546 Agricultural Real Estate 493 - - 493 2,736 30,905 34,134 Business Banking 1,907 597 - 2,504 5,304 473,147 480,955 Total Commercial Loans $ 2,678 $ 735 $ - $ 3,413 $ 12,463 $ 2,825,080 $ 2,840,956 Consumer Loans: Indirect $ 18,747 $ 4,033 $ 3,492 $ 26,272 $ 2,115 $ 1,642,664 $ 1,671,051 Home Equity 2,887 854 341 4,082 2,736 448,081 454,899 Direct 341 108 70 519 35 64,399 64,953 Total Consumer Loans $ 21,975 $ 4,995 $ 3,903 $ 30,873 $ 4,886 $ 2,155,144 $ 2,190,903 Residential Real Estate Mortgages $ 3,730 $ 667 $ 1,262 $ 5,659 $ 5,987 $ 1,139,577 $ 1,151,223 Total Originated Loans $ 28,383 $ 6,397 $ 5,165 $ 39,945 $ 23,336 $ 6,119,801 $ 6,183,082 Acquired Commercial Loans: Commercial $ - $ - $ - $ - $ - $ 39,575 $ 39,575 Commercial Real Estate - - - - 2 106,632 106,634 Business Banking 354 - - 354 669 40,081 41,104 Total Commercial Loans $ 354 $ - $ - $ 354 $ 671 $ 186,288 $ 187,313 Consumer Loans: Indirect $ 38 $ - $ 1 $ 39 $ 22 $ 1,157 $ 1,218 Home Equity 254 34 103 391 225 39,256 39,872 Direct 6 1 1 8 23 2,785 2,816 Total Consumer Loans $ 298 $ 35 $ 105 $ 438 $ 270 $ 43,198 $ 43,906 Residential Real Estate Mortgages $ 627 $ 226 $ 140 $ 993 $ 1,431 $ 168,048 $ 170,472 Total Acquired Loans $ 1,279 $ 261 $ 245 $ 1,785 $ 2,372 $ 397,534 $ 401,691 Total Loans $ 29,662 $ 6,658 $ 5,410 $ 41,730 $ 25,708 $ 6,517,335 $ 6,584,773 There were no material commitments to extend further credit to borrowers with nonperforming loans as of March 31, 2018 and December 31, 2017. Impaired Loans The methodology used to establish the allowance for loan losses on impaired loans incorporates specific allocations on loans analyzed individually. Classified loans, including all troubled debt restructured loans (“TDRs”) and nonaccrual commercial loans that are graded Substandard, Doubtful or Loss, with outstanding balances of $750 thousand or more are evaluated for impairment through the Company’s quarterly status review process. The Company considers commercial loans less than $750 thousand to be homogeneous loans. In determining that we will be unable to collect all principal and/or interest payments due in accordance with the contractual terms of the loan agreements, we consider factors such as payment history and changes in the financial condition of individual borrowers, local economic conditions, historical loss experience and the conditions of the various markets in which the collateral may be liquidated. For loans that are identified as impaired, impairment is measured by one of three methods: 1) the fair value of collateral less cost to sell, 2) present value of expected future cash flows or 3) the loan’s observable market price. These impaired loans are reviewed on a quarterly basis for changes in the measurement of impairment. Impaired amounts are charged off immediately if such amounts are determined by management to be uncollectable. Any change to the previously recognized amount of impairment loss is recognized as a component of the provision for loan losses The following table provides information on impaired loans specifically evaluated for impairment: March 31, 2018 December 31, 2017 (In thousands) Recorded Investment Balance ( Book) Unpaid Principal Related Allowance Recorded Investment Balance ( Book) Unpaid Principal Balance ( Legal) Related Allowance Originated With no related allowance recorded: Commercial Loans: C&I $ 430 $ 696 $ - $ - CRE 4,397 6,362 - - Commercial - - - 251 Commercial Real Estate - - 2,211 3,979 Agricultural - - 452 465 Agricultural Real Estate - - 2,250 2,423 Business Banking 1,078 2,135 860 1,730 Total Commercial Loans $ 5,905 $ 9,193 $ 5,773 $ 8,848 Consumer Loans: Dealer Finance $ 198 $ 216 $ - $ - Direct 8,107 10,077 - - Indirect - - 131 143 Home Equity - - 8,027 9,966 Direct - - 274 274 Total Consumer Loans $ 8,305 $ 10,293 $ 8,432 $ 10,383 Residential Real Estate Mortgages $ 6,771 $ 9,097 $ 6,830 $ 8,780 Total $ 20,981 $ 28,583 $ 21,035 $ 28,011 With an allowance recorded: Commercial Loans: C&I $ 27 $ 26 $ 27 $ - $ - $ - CRE 74 81 15 - - - Commercial Real Estate - - - 76 82 30 Agricultural - - - 27 27 27 Total Commercial Loans $ 101 $ 107 $ 42 $ 103 $ 109 $ 57 Total: $ 21,082 $ 28,690 $ 42 $ 21,138 $ 28,120 $ 57 There were no acquired impaired loans specifically evaluated for impairment as of March 31, 2018 or December 31, 2017. The following tables summarize the average recorded investments on loans specifically evaluated for impairment and the interest income recognized: For the three months ended March 31, 2018 March 31, 2017 (In thousands) Average Recorded Investment Interest Income Recognized Accrual Average Recorded Investment Interest Income Recognized Accrual Originated Commercial Loans: C&I $ 467 $ - $ - $ - CRE 4,506 32 - - Commercial - - 2,926 - Commercial Real Estate - - 5,995 44 Agricultural - - 173 - Agricultural Real Estate - - 1,580 11 Business Banking 954 5 650 2 Total Commercial Loans $ 5,927 $ 37 $ 11,324 $ 57 Consumer Loans: Dealer Finance $ 184 $ 3 $ - $ - Direct 8,190 109 - - Indirect - - 5 - Home Equity - - 8,431 110 Total Consumer Loans $ 8,374 $ 112 $ 8,436 $ 110 Residential Real Estate Mortgages $ 6,881 $ 73 $ 5,611 $ 39 Total Originated $ 21,182 $ 222 $ 25,371 $ 206 Acquired Commercial Loans: Commercial Real Estate $ - $ - $ 301 $ - Total Commercial Loans $ - $ - $ 301 $ - Total Acquired $ - $ - $ 301 $ - Total Loans $ 21,182 $ 222 $ 25,672 $ 206 Credit Quality Indicators The Company has developed an internal loan grading system to evaluate and quantify the Company's loan portfolio with respect to quality and risk. The system focuses on, among other things, financial strength of borrowers, experience and depth of borrower's management, primary and secondary sources of repayment, payment history, nature of the business and outlook on particular industries. The internal grading system enables the Company to monitor the quality of the entire loan portfolio on a consistent basis and provide management with an early warning system, enabling recognition and response to problem loans and potential problem loans. Commercial Grading System For commercial and agricultural loans, the Company uses a grading system that relies on quantifiable and measurable characteristics when available. This would include comparison of financial strength to available industry averages, comparison of transaction factors (loan terms and conditions) to loan policy and comparison of credit history to stated repayment terms and industry averages. Some grading factors are necessarily more subjective such as economic and industry factors, regulatory environment and management. Commercial loans are graded Doubtful, Substandard, Special Mention and Pass. ● Doubtful A Doubtful loan has a high probability of total or substantial loss, but because of specific pending events that may strengthen the asset, its classification as a loss is deferred. Doubtful borrowers are usually in default, lack adequate liquidity or capital and lack the resources necessary to remain an operating entity. Pending events can include mergers, acquisitions, liquidations, capital injections, the perfection of liens on additional collateral, the valuation of collateral and refinancing. Generally, pending events should be resolved within a relatively short period and the ratings will be adjusted based on the new information. Nonaccrual treatment is required for Doubtful assets because of the higher probability of loss. ● Substandard Substandard loans have a high probability of payment default or they have other well-defined weaknesses. They require more intensive supervision by bank management. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity or marginal capitalization. Repayment may depend on collateral or other credit risk mitigants. For some Substandard loans, the likelihood of full collection of interest and principal may be in doubt and those loans should be placed on nonaccrual. Although Substandard assets in the aggregate will have a distinct potential for loss, an individual asset's loss potential does not have to be distinct for the asset to be rated Substandard. ● Special Mention Special Mention loans have potential weaknesses that may, if not checked or corrected, weaken the asset or inadequately protect the Company's position at some future date. These loans pose elevated risk, but their weakness does not yet justify a Substandard classification. Borrowers may be experiencing adverse operating trends (i.e., declining revenues or margins) or may be struggling with an ill-proportioned balance sheet (i.e., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a Special Mention rating. Although a Special Mention loan has a higher probability of default than a pass asset, its default is not imminent. ● Pass Loans graded as Pass encompass all loans not graded as Doubtful, Substandard or Special Mention. Pass loans are in compliance with loan covenants and payments are generally made as agreed. Pass loans range from superior quality to fair quality. Business Banking Grading System Business banking loans are graded as either Classified or Non-classified: ● Classified Classified loans are inadequately protected by the current worth and paying capacity of the obligor or, if applicable, the collateral pledged. These loans have a well-defined weakness or weaknesses, that jeopardize the liquidation of the debt or in some cases make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Classified loans have a high probability of payment default or a high probability of total or substantial loss. These loans require more intensive supervision by management and are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity or marginal capitalization. Repayment may depend on collateral or other credit risk mitigants. When the likelihood of full collection of interest and principal may be in doubt, Classified loans are considered to have a nonaccrual status. In some cases, Classified loans are considered uncollectable and of such little value that their continuance as assets is not warranted. ● Non-classified Loans graded as Non-classified encompass all loans not graded as Classified. Non-classified loans are in compliance with loan covenants and payments are generally made as agreed. Consumer and Residential Real Estate Mortgage Grading System Consumer and Residential Real Estate Mortgage loans are graded as either Nonperforming or Performing. ● Nonperforming Nonperforming loans are loans that are 1) over 90 days past due and interest is still accruing or 2) on nonaccrual status. ● Performing All loans not meeting any of these criteria are considered Performing. The following tables illustrate the Company's credit quality by loan class: (In thousands) March 31, 2018 Originated Commercial Credit Exposure By Internally Assigned Grade: C&I CRE Total Pass $ $731,934 $ $1,550,184 $ 2,282,118 Special Mention 37,543 15,868 53,411 Substandard 18,471 39,304 57,775 Total $ 787,948 $ 1,605,356 $ 2,393,304 Business Banking Credit Exposure By Internally Assigned Grade: Business Banking Total Non-classified $ 468,842 $ 468,842 Classified 12,937 12,937 Total $ 481,779 $ 481,779 Consumer Credit Exposure By Payment Activity: Dealer Finance Specialty Lending Direct Total Performing $ 1,237,008 $ 470,382 $ 510,647 $ 2,218,037 Nonperforming 3,188 1,292 2,871 7,351 Total $ 1,240,196 $ 471,674 $ 513,518 $ 2,225,388 Residential Real Estate Mortgage Credit Exposure By Payment Activity: Residential Real Estate Mortgage Total Performing $ 1,163,254 $ 1,163,254 Nonperforming 5,690 5,690 Total $ 1,168,944 $ 1,168,944 Acquired Commercial Credit Exposure By Internally Assigned Grade: C&I CRE Total Pass $ 30,699 $ 96,233 $ 126,932 Special Mention 2,069 484 2,553 Substandard 716 748 1,464 Total $ 33,484 $ 97,465 $ 130,949 Business Banking Credit Exposure By Internally Assigned Grade: Business Banking Total Non-classified $ 39,111 $ 39,111 Classified 2,860 2,860 Total $ 41,971 $ 41,971 Consumer Credit Exposure By Payment Activity: Dealer Finance Direct Total Performing $ 587 $ 39,732 $ 40,319 Nonperforming 15 332 347 Total $ 602 $ 40,064 $ 40,666 Residential Real Estate Mortgage Credit Exposure By Payment Activity: Residential Real Estate Mortgage Total Performing $ 162,448 $ 162,448 Nonperforming 1,675 1,675 Total $ 164,123 $ 164,123 (In thousands) As of December 31, 2017 Originated Commercial Credit Exposure By Internally Assigned Grade: Commercial Commercial Real Estate Agricultural Agricultural Real Estate Total Pass $ 708,567 $ 1,481,926 $ 31,142 $ 23,381 $ 2,245,016 Special Mention 30,337 28,264 2,294 2,441 63,336 Substandard 14,875 26,352 2,110 8,312 51,649 Total $ 753,779 $ 1,536,542 $ 35,546 $ 34,134 $ 2,360,001 Business Banking Credit Exposure By Internally Assigned Grade: Business Banking Total Non-classified $ 468,898 $ 468,898 Classified 12,057 12,057 Total $ 480,955 $ 480,955 Consumer Credit Exposure By Payment Activity: Indirect Home Equity Direct Total Performing $ 1,665,444 $ 451,822 $ 64,848 $ 2,182,114 Nonperforming 5,607 3,077 105 8,789 Total $ 1,671,051 $ 454,899 $ 64,953 $ 2,190,903 Residential Real Estate Mortgage Credit Exposure By Payment Activity: Residential Real Estate Mortgage Total Performing $ 1,143,974 $ 1,143,974 Nonperforming 7,249 7,249 Total $ 1,151,223 $ 1,151,223 Acquired Commercial Credit Exposure By Internally Assigned Grade: Commercial Commercial Real Estate Total Pass $ 37,825 $ 103,248 $ 141,073 Special Mention 425 498 923 Substandard 1,325 2,888 4,213 Total $ 39,575 $ 106,634 $ 146,209 Business Banking Credit Exposure By Internally Assigned Grade: Business Banking Total Non-classified $ 38,236 $ 38,236 Classified 2,868 2,868 Total $ 41,104 $ 41,104 Consumer Credit Exposure By Payment Activity: Indirect Home Equity Direct Total Performing $ 1,195 $ 39,544 $ 2,792 $ 43,531 Nonperforming 23 328 24 375 Total $ 1,218 $ 39,872 $ 2,816 $ 43,906 Residential Real Estate Mortgage Credit Exposure By Payment Activity: Residential Real Estate Mortgage Total Performing $ 168,901 $ 168,901 Nonperforming 1,571 1,571 Total $ 170,472 $ 170,472 Troubled Debt Restructuring When the Company modifies a loan in a troubled debt restructuring, such modifications included one or a combination of the following: an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; temporary reduction in the interest rate or change in scheduled payment amount. Residential and consumer TDRs occurring during 2018 and 2017 were due to the reduction in the interest rate or extension of the term. Commercial TDRs during 2018 and 2017 were both a reduction of the interest rate and change in terms. When the Company modifies a loan in a troubled debt restructuring, management measures for impairment, if any, based on the present value of the expected future cash flows, discounted at the contractual interest rate of the original loan agreement, except when the sole (remaining) source of repayment for the loan is the operation or liquidation of the collateral. In these cases, management uses the current fair value of the collateral, less selling costs. If management determines that the value of the modified loan is less than the recorded investment in the loan an impairment charge would be recognized. The following tables illustrate the recorded investment and number of modifications for modified loans, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring (dollars in thousands): Three months ended March 31, 2018 (Dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial Business Banking 3 $ 319 $ 410 Total Commercial 3 $ 319 $ 410 Consumer Dealer Finance 6 $ 82 $ 81 Direct 2 41 41 Total Consumer 8 $ 123 $ 122 Residential Real Estate Mortgages 5 323 323 Total Troubled Debt Restructurings 16 $ 765 $ 855 Three months ended March 31, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Consumer Home Equity 2 $ 78 $ 77 Total Consumer 2 $ 78 $ 77 Residential Real Estate Mortgages 1 $ 141 $ 138 Total Troubled Debt Restructurings 3 $ 219 $ 215 The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the period: Three months ended March 31, 2018 Three months ended March 31, 2017 (Dollars in thousands) Number of contracts Recorded Investment Number of contracts Recorded Investment Commercial Loans: Commercial - $ - 1 $ 145 Business Banking 1 200 - - Total Commercial Loans 1 $ 200 - $ 145 Consumer Loans: Indirect - $ - 1 $ 5 Home Equity - - 12 663 Direct 14 870 - - Total Consumer Loans 14 $ 870 13 $ 668 Residential Real Estate Mortgages 8 $ 504 4 $ 167 Total Troubled Debt Restructurings 23 $ 1,574 18 $ 980 |
Defined Benefit Post-retirement
Defined Benefit Post-retirement Plans | 3 Months Ended |
Mar. 31, 2018 | |
Defined Benefit Post-retirement Plans [Abstract] | |
Defined Benefit Post-retirement Plans | 5. Defined Benefit Post-Retirement Plans The Company has a qualified, noncontributory, defined benefit pension plan ("the Plan") covering substantially all of its employees at March 31, 2018. Benefits paid from the plan are based on age, years of service, compensation, social security benefits and are determined in accordance with defined formulas. The Company's policy is to fund the Plan in accordance with Employee Retirement Income Security Act of 1974 standards. Assets of the Plan are invested in publicly traded stocks and mutual funds. In addition to the Plan, the Company provides supplemental employee retirement plans to certain current and former executives. The Company also assumed supplemental retirement plans for certain current and former executives in the Alliance Financial Corporation ("Alliance") acquisition. The supplemental employee retirement plans and the Plan are collectively referred to herein as "Pension Benefits." In addition, the Company provides certain health care benefits for retired employees. Benefits were accrued over the employees' active service period. Only employees that were employed by the Company on or before January 1, 2000 are eligible to receive post-retirement health care benefits. In addition, the Company assumed post-retirement medical life insurance benefits for certain Alliance employees, retirees and their spouses, if applicable, in the Alliance acquisition. These post-retirement benefits are referred to herein as "Other Benefits." The Company made no voluntary contributions to the pension and other benefits plans in 2017 and did not do so during the three months ended March 31, 2018. The components of expense for Pension Benefits and Other Benefits are set forth below: Pension Benefits Other Benefits Three months ended March 31, Three months ended March 31, (In thousands) 2018 2017 2018 2017 Components of net periodic (benefit) cost: Service cost $ 420 $ 402 $ 3 $ 3 Interest cost 920 1,042 82 86 Expected return on plan assets (2,123 ) (1,985 ) - - Net amortization 251 415 44 20 Total net periodic (benefit) cost $ (532 ) $ (126 ) $ 129 $ 109 The service cost component of net periodic (benefit) cost is included in salaries and employee benefits and the interest cost, expected return on plan assets and net amortization components are included in Other noninterest expense on the unaudited interim consolidated statements of income. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 6. Earnings Per Share Basic earnings per share ("EPS") excludes dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity (such as the Company's dilutive stock options and restricted stock units). The following is a reconciliation of basic and diluted EPS for the periods presented in the unaudited interim consolidated statements of income: Three months ended March 31, 2018 2017 (In thousands, except per share data) Basic EPS: Weighted average common shares outstanding 43,663 43,513 Net income available to common stockholders $ 25,986 $ 20,279 Basic EPS $ 0.60 $ 0.47 Diluted EPS: Weighted average common shares outstanding 43,663 43,513 Dilutive effect of common stock options and restricted stock 312 370 Weighted average common shares and common share equivalents 43,975 43,883 Net income available to common stockholders $ 25,986 $ 20,279 Diluted EPS $ 0.59 $ 0.46 There were 1,500 and 783 stock options for the quarters ended March 31, 2018 and March 31, 2017, respectively, that were not considered in the calculation of diluted EPS since the stock options' exercise price was greater than the average market price during these periods. |
Reclassification Adjustments Ou
Reclassification Adjustments Out of Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2018 | |
Reclassification Adjustments Out of Other Comprehensive Income (Loss) [Abstract] | |
Reclassification Adjustments Out of Other Comprehensive Income (Loss) | 7. Reclassification Adjustments Out of Other Comprehensive Income (Loss) The following table summarizes the reclassification adjustments out of accumulated other comprehensive income (loss): Detail About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statement of Comprehensive Income (Loss) Three months ended (In thousands) March 31, 2018 March 31, 2017 AFS securities: Amortization of unrealized gains related to securities transfer $ 188 $ 238 Interest income Impairment write-down of an equity security - 1,312 Other noninterest income Net unrealized (gains) losses on cash flow hedges reclassified to interest expense (359 ) 82 Interest expense Tax effect 43 (623 ) Income tax (expense) benefit Net of tax $ (128 ) $ 1,009 Pension and other benefits: Amortization of net losses $ 273 $ 435 Other noninterest expense Amortization of prior service costs 22 - Other noninterest expense Tax effect (74 ) (166 ) Income tax (expense) benefit Net of tax $ 221 $ 269 Total reclassifications, net of tax $ 93 $ 1,278 |
Fair Value Measurements and Fai
Fair Value Measurements and Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Measurements and Fair Value of Financial Instruments [Abstract] | |
Fair Value Measurements and Fair Value of Financial Instruments | 8. Fair Value Measurements and Fair Value of Financial Instruments GAAP states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value measurements are not adjusted for transaction costs. A fair value hierarchy exists within GAAP that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The types of instruments valued based on quoted market prices in active markets include most U.S. government and agency securities, many other sovereign government obligations, liquid mortgage products, active listed equities and most money market securities. Such instruments are generally classified within Level 1 or Level 2 of the fair value hierarchy. The Company does not adjust the quoted price for such instruments. The types of instruments valued based on quoted prices in markets that are not active, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency include most investment-grade and high-yield corporate bonds, less liquid mortgage products, less liquid agency securities, less liquid listed equities, state, municipal and provincial obligations and certain physical commodities. Such instruments are generally classified within Level 2 of the fair value hierarchy. Certain common equity securities are reported at fair value utilizing Level 1 inputs (exchange quoted prices). Other investment securities are reported at fair value utilizing Level 1 and Level 2 inputs. The prices for Level 2 instruments are obtained through an independent pricing service or dealer market participants with whom the Company has historically transacted both purchases and sales of investment securities. Prices obtained from these sources include prices derived from market quotations and matrix pricing. 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. Management reviews the methodologies used in pricing the securities by its third party providers. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability and such adjustments are generally based on available market evidence. In the absence of such evidence, management's best estimate will be used. Management's best estimate consists of both internal and external support on certain Level 3 investments. Subsequent to inception, management only changes Level 3 inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending third-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalizations and other transactions across the capital structure, offerings in the equity or debt markets and changes in financial ratios or cash flows. For the three month period ended March 31, 2018 the Company has made a $0.8 million transfer from Level 1 to Level 2 and a $4.0 transfer from Level 2 to Level 1. For the year ended December 31, 2017, the Company made no transfers of assets between the levels of the fair value hierarchy. The following tables set forth the Company's financial assets and liabilities measured on a recurring basis that were accounted for at fair value. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement: (In thousands) Level 1 Level 2 Level 3 March 31, 2018 Assets: AFS securities: Federal agency $ - $ 138,459 $ - $ 138,459 State & municipal - 39,386 - 39,386 Mortgage-backed - 544,031 - 544,031 Collateralized mortgage obligations - 544,036 - 544,036 Total AFS securities $ - $ 1,265,912 $ - $ 1,265,912 Equity securities 17,010 4,982 - 21,992 Derivatives - 13,414 - 13,414 Total $ 17,010 $ 1,284,308 $ - $ 1,301,318 Liabilities: Derivatives $ - $ 9,514 $ - $ 9,514 Total $ - $ 9,514 $ - $ 9,514 (In thousands) Level 1 Level 2 Level 3 December 31, 2017 Assets: AFS securities: Federal agency $ - $ 108,899 $ - $ 108,899 State & municipal - 41,956 - 41,956 Mortgage-backed - 554,927 - 554,927 Collateralized mortgage obligations - 535,994 - 535,994 Other securities 5,845 8,304 - 14,149 Total AFS securities $ 5,845 $ 1,250,080 $ - $ 1,255,925 Trading securities 11,467 - - 11,467 Derivatives - 3,732 - 3,732 Total $ 17,312 $ 1,253,812 $ - $ 1,271,124 Liabilities: Derivatives $ - $ 324 $ - $ 324 Total $ - $ 324 $ - $ 324 GAAP requires disclosure of assets and liabilities measured and recorded at fair value on a non-recurring basis such as goodwill, loans held for sale, other real estate owned, collateral-dependent impaired loans, mortgage servicing rights and HTM securities. The only non-recurring fair value measurements recorded during the three month period ended March 31, 2018 and year ended December 31, 2017 were related to impaired loans, write-downs of other real estate owned and impairments of goodwill and intangible assets. The Company uses the fair value of underlying collateral, less costs to sell, to estimate the specific reserves for collateral dependent impaired loans. The appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses ranging from 10% to 35%. Based on the valuation techniques used, the fair value measurements for collateral dependent impaired loans are classified as Level 3. As of March 31, 2018 and December 31, 2017 the Company had collateral dependent impaired loans with a carrying value of $0.1 million and $0.1 million, respectively, which had specific reserves included in the allowance for loan losses of $0.1 million and $0.1 million, respectively Interest Rate Swaps The Company enters into interest rate swaps to facilitate customer transactions and meet their financing needs. These swaps are considered derivatives, but are not designated in hedging relationships. These instruments have interest rate and credit risk associated with them. To mitigate the interest rate risk, the Company enters into offsetting interest rate swaps with counterparties. The counterparty swaps are also considered derivatives and are also not designated in hedging relationships. Interest rate swaps are recorded within other assets or other liabilities on the consolidated balance sheet at their estimated fair value. Changes to the fair value of assets and liabilities arising from these derivatives are included, net, in other operating income in the consolidated statement of income. At March 31, 2018 the notional amount of these customer derivative agreements and the offsetting derivative counterparty positions each totaled $551.8 million and the fair values included in other assets and other liabilities on the unaudited interim consolidated balance sheet applicable to these agreements amounted to $9.2 million. At December 31, 2017, the notional amount of these customer derivative agreements and the offsetting derivative counterparty positions each totaled $481.2 million and the fair values included in other assets and other liabilities on the unaudited interim consolidated balance sheet applicable to these agreements amounted to $0.2 million. The Company has entered into interest rate swaps to modify the interest rate characteristics of certain short-term FHLB advances from variable rate to fixed rate in order to reduce the impact of changes in future cash flows due to market interest rate changes. These agreements are designated as cash flow hedges. The notional amount of these interest rate derivative agreements total $250.0 million at March 31, 2018 and December 31, 2017. Fair values included in other assets on the unaudited interim consolidated balance sheet applicable to these agreements amounted to $4.2 million at March 31, 2018 and $3.5 million at December 31, 2017. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in AOCI and subsequently reclassified into interest expense in the same period during which the hedged transaction affects earnings. Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest payments are made on the Company's short-term rate borrowings. The change in net unrealized gains (losses) on cash flow hedges reflects a reclassification of $0.4 million of net unrealized gains and $0.1 million of net unrealized (losses) from AOCI to interest expense during the quarters ended March 31, 2018 and 2017 respectively. During the next twelve months, the Company estimates that an additional $2.6 million will be reclassified from AOCI as a reduction to interest expense. The following table sets forth information with regard to estimated fair values of financial instruments. This table excludes financial instruments for which the carrying amount approximates fair value. Financial instruments for which the fair value approximates carrying value include cash and cash equivalents, AFS securities, equity securities, trading securities, accrued interest receivable, non-maturity deposits, short-term borrowings, accrued interest payable and interest rate swaps. March 31, 2018 December 31, 2017 (In thousands) Fair Value Hierarchy Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial assets: HTM securities 2 $ 487,126 $ 477,409 $ 484,073 $ 481,871 Net loans 3 6,576,924 6,612,392 6,515,273 6,651,931 Financial liabilities: Time deposits 2 $ 840,425 $ 833,181 $ 806,766 $ 801,294 Long-term debt 2 88,824 87,538 88,869 88,346 Junior subordinated debt 2 101,196 101,986 101,196 104,593 Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, the Company has a substantial trust and investment management operation that contributes net fee income annually. The trust and investment management operation is not considered a financial instrument and its value has not been incorporated into the fair value estimates. Other significant assets and liabilities include the benefits resulting from the low-cost funding of deposit liabilities as compared to the cost of borrowing funds in the market and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimate of fair value. HTM Securities The fair value of the Company's investment HTM securities is primarily measured using information from a third party pricing service. 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. Net Loans The fair value of the Company’s loans was estimated by discounting the expected future cash flows using the current interest rates at which similar loans would be made for the same remaining maturities, in accordance with the exit price notion as defined by Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") 820, Fair Value Measurement Financial Instruments - Overall (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities , Time Deposits The fair value of time deposits was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. The fair values of the Company's time deposit liabilities do not take into consideration the value of the Company's long-term relationships with depositors, which may have significant value. Long-Term Debt The fair value of long-term debt was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. Junior Subordinated Debt The fair value of trust preferred debentures has been estimated using a discounted cash flow analysis. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | 9. Commitments and Contingencies The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, unused lines of credit, standby letters of credit and certain agricultural real estate loans sold to investors with recourse, with the sold portion having a government guarantee that is assignable back to the Company upon repurchase of the loan in the event of default. The Company's exposure to credit loss in the event of nonperformance by the other party to the commitments to extend credit, unused lines of credit, standby letters of credit and loans sold with recourse is represented by the contractual amount of those instruments. The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies. Commitments to extend credit and unused lines of credit totaled $1.6 billion at March 31, 2018 and December 31, 2017. Since many loan commitments, standby letters of credit, guarantees and indemnification contracts expire without being funded in whole or in part, the contract amounts are not necessarily indicative of future cash flows. The Company does not issue any guarantees that would require liability-recognition or disclosure, other than its standby letters of credit. The Company guarantees the obligations or performance of customers by issuing stand-by letters of credit to third parties. These stand-by letters of credit are frequently issued in support of third party debt, such as corporate debt issuances, industrial revenue bonds and municipal securities. The risk involved in issuing stand-by letters of credit is essentially the same as the credit risk involved in extending loan facilities to customers and letters of credit are subject to the same credit origination guidelines, portfolio maintenance and management procedures in effect to monitor other credit and off-balance sheet products. Typically, these instruments have terms of five years or less and expire unused; therefore, the total amounts do not necessarily represent future cash requirements. Standby letters of credit totaled $40.8 million at March 31, 2018 and $41.1 million at December 31, 2017. As of March 31, 2018 and December 31, 2017, the fair value of the Company's stand-by letters of credit was not significant. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contracts with Customers [Abstract] | |
Revenue from Contracts with Customers | 10. Revenue from Contracts with Customers Effective January 1, 2018, the Company adopted FASB ASU 2014-09, Revenue from Contracts with Customers (ASC Topic 606) Insurance and Other Financial Services Revenue Insurance and other financial services revenue primarily consists of commissions received on insurance and brokered investment product sales. The Company acts as an intermediary between the Company's customer and the insurance carrier. The Company's performance obligation is generally satisfied upon the issuance of the annuity policy. Shortly after the policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. The Company does not earn a significant amount of trailing commission fees on insurance or brokered investment product sales. The majority of the trailing commission fees are calculated based on a percentage of market value of a period end and revenue is recognized when an investment product's market value can be determined. Service Charges on Deposit Accounts Service charges on deposit accounts consist of overdraft fees, monthly service fees, check orders, and other deposit account related fees. Overdraft, monthly service, check orders and other deposit account related fees are transactional based, and therefore, the Company's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers' accounts. ATM and Debit Card Fees ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Debit card income is primarily comprised of interchange fees earned whenever the Company's debit cards are processed through card payment networks. The Company's performance obligations for these revenue streams are satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Retirement Plan Administration Fees Retirement plan administration fees are primarily generated for services related to the recordkeeping, administration and plan design solutions of defined benefit, defined contribution and revenue sharing plans. Revenue is recognized in arrears for services already provided in accordance with fees established in contracts with customers or based on rates agreed to with investment trade platforms based on ending investment balances held. The Company's performance obligation is satisfied, and related revenue recognized based on services completed or ending investment balances, for which receivables are recorded at the time of revenue recognition. Trust Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts, pensions and other customer assets. The Company's performance obligation is generally satisfied with the resulting fees are recognized monthly, based upon services completed or the month-end market value of the assets under management and the applicable fee rate. Payment is generally received shortly after services are rendered or a few days after month end through a direct charge to customers' accounts. The Company does not earn performance-based incentives. Other Other noninterest income consists of other recurring revenue streams such as account and loan fees, interest rate swap fees, safety deposit box rental fees, and other miscellaneous revenue streams. These revenue streams are primarily transactional based and payment is received immediately or in the following month, and therefore, the Company's performance obligation is satisfied, and related revenue recognized, at a point in time. The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of ASC 606, for the three months ended March 31, 2018 (In thousands) 2018 2017 Noninterest income In-scope of ASC 606 Insurance and other financial services revenue $ 6,504 $ 6,770 Service charges on deposit accounts 3,972 3,977 ATM and debit card fees 5,273 4,950 Retirement plan administration fees 5,339 4,172 Trust 4,878 4,532 Other 3,892 2,938 Total noninterest income in-scope of ASC 606 $ 29,858 $ 27,339 Total noninterest income out-of-scope of ASC 606 1,419 1,411 Total noninterest income $ 31,277 $ 28,750 Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration or before payment is due, which would result in contract receivables or assets, respectively. A contract liability balance is an entity's obligation to transfer a service to a customer for which the entity has already received payment or for which payment is due from the customer. The Company's noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals such as asset management fees based on month-end market values. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of March 31, 2018 and December 31, 2017, the Company did not have any significant contract balances. Contract Acquisition Costs ASC 606 requires the capitalization, and subsequently amortization into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained. The Company elected the practical expedient, which allows immediate expensing of contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less, and did not capitalize any contract acquisition costs upon adoption of ASC 606 as of or during the three months ended March 31, 2018 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | 11. Recent Accounting Pronouncements Recently Adopted Accounting Standards Effective January 1, 2018, the Company early adopted the provisions of FASB ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income Effective January 1, 2018, the Company early adopted the provisions of FASB ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities adoption did not have an impact on the consolidated financial statements and related disclosures. Effective January 1, 2018, the Company adopted the provisions of FASB ASU 2017-09, Compensation-Stock Compensation (Topic 718) Effective January 1, 2018, the Company adopted the provisions of FASB ASU 2017-07, Compensation – Retirement Benefits (Topic 715) Effective January 1, 2018, the Company adopted the provisions of FASB ASU 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) Effective January 1, 2018, the Company adopted the provisions of FASB ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, adoption did not have an impact on the consolidated financial statements and related disclosures. Effective January 1, 2018, the Company adopted the provisions of FASB Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments) The amendments of ASU 2016-15 were applied on a retrospective adoption did not have an impact on the consolidated financial statements and related disclosures. Effective January 1, 2018, the Company adopted the provisions of FASB Financial Instruments - Overall (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities Effective January 1, 2018, the Company adopted the provisions of Principal versus Agent Considerations (Reporting Revenue Gross versus Net) Identifying Performance Obligations and Licensing Narrow-Scope Improvements and Practical Expedients Technical Corrections and Improvements to Topic 606 - Revenue from Contracts with Customers Management determined that the majority of revenue earned by the Company is from revenue streams not included in the scope of this standard such as interest earned from loans, investment securities and bank owned life insurance income. For applicable revenue streams such as ATM and debit card fees, insurance, other financial services revenue, service charges on deposit accounts, retirement plan administration fees and trust fees, management reviewed the applicable contracts provisions and applied the principles in the new standard for revenue recognition. The amendments of ASU 2014-09 were applied on a modified retrospective basis. There was no cumulative effect adjustment upon adoption on January 1, 2018. The adoption of ASU 2014-09 and all related ASU updates to ASC 606 did not have a significant impact on the consolidated financial statements and related disclosures as of and for the three months ended March 31, 2018. Refer to footnote 10, Revenue from Contracts with Customers, for more information. Accounting Standards Issued Not Yet Adopted In February 2018, the FASB issued ASU 2018-03, Technical Correction and Improvement to Financial Instruments – Overall (Subtopic 825-10), to clarify certain aspects of the guidance issued in ASU 2016-01. The provisions of ASU 2018-03 are effective July 1, 2018 for interim financial statements but may be early adopted in any interim period starting January 1, 2018 as long as ASU 2016-01 is also adopted. Management is evaluating the effect that this guidance will have on the consolidated financial statements and related disclosures and does not expect the impact to be material. In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20) In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) |
Description of Business (Polici
Description of Business (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Description of Business [Abstract] | |
Nature of Operations | NBT Bancorp Inc. (the "Registrant" or the "Company") is a registered financial holding company incorporated in the state of Delaware in 1986, with its principal headquarters located in Norwich, New York. The principal assets of the Registrant consist of all of the outstanding shares of common stock of its subsidiaries, including: NBT Bank, National Association (the "Bank"), NBT Financial Services, Inc. ("NBT Financial"), NBT Holdings, Inc. ("NBT Holdings"), Hathaway Agency, Inc. and CNBF Capital Trust I, NBT Statutory Trust I, NBT Statutory Trust II, Alliance Financial Capital Trust I and Alliance Financial Capital Trust II (collectively, the "Trusts"). The Company's principal sources of revenue are the management fees and dividends it receives from the Bank, NBT Financial and NBT Holdings. The Company's business, primarily conducted through the Bank but also through its other subsidiaries, consists of providing commercial banking, retail banking and wealth management services primarily to customers in its market area, which includes central and upstate New York, northeastern Pennsylvania, southern New Hampshire, western Massachusetts, Vermont and the southern coastal Maine area. The Company has been, and intends to continue to be, a community-oriented financial institution offering a variety of financial services. The Company's business philosophy is to operate as a community bank with local decision-making providing a broad array of banking and financial services to retail, commercial and municipal customers. |
Securities (Policies)
Securities (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Securities [Abstract] | |
Investment, Policy | Declines in the fair value of HTM securities below their amortized cost, less any current period credit loss, that are deemed to be other-than-temporary are reflected in earnings as realized losses or in other comprehensive income. This classification is dependent upon whether the Company intends to sell the security, or whether it is more likely than not it will be required to sell the security before recovery. The other-than-temporary impairment ("OTTI") shall be recognized in earnings equal to the entire difference between the investment's amortized cost basis and its fair value at the balance sheet date. If the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis less any current-period credit loss, the OTTI shall be separated into (a) the amount representing the credit loss and (b) the amount related to all other factors. The amount of the total OTTI related to the credit loss shall be recognized in earnings. The amount of the total OTTI related to other factors shall be recognized in other comprehensive income net of applicable taxes. In estimating OTTI losses, management considers, among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer and (iii) the historical and implied volatility of the fair value of the security. Management has the intent to hold the securities classified as HTM until they mature, at which time it is believed the Company will receive full value for the securities. The unrealized losses on HTM debt securities are due to increases in market interest rates over yields at the time the underlying securities were purchased. When necessary, the Company has performed a discounted cash flow analysis to determine whether or not it will receive the contractual principal and interest on certain securities. The fair value is expected to recover as the bonds approach their maturity date or if market yields for such investments decline. Management also has the intent to hold and will not be required to sell, the debt securities classified as AFS for a period of time sufficient for a recovery of cost, which may be until maturity. The unrealized losses on AFS debt securities are due to increases in market interest rates over the yields available at the time the underlying securities were purchased. When necessary, the Company has performed a discounted cash flow analysis to determine whether or not it will receive the contractual principal and interest on certain securities. For AFS debt securities, OTTI losses are recognized in earnings if the Company intends to sell the security. In other cases the Company considers the relevant factors noted above, as well as the Company's intent and ability to retain its investment for a period of time sufficient to allow for any anticipated recovery in market value and whether evidence exists to support a realizable value equal to or greater than the cost basis. Any impairment loss on an equity security is equal to the full difference between the cost basis and the fair value of the security. As of March 31, 2018 and December 31, 2017, management believes the impairments detailed in the table above are temporary. There were no OTTI losses realized in the Company's consolidated statement of income for the quarter ended March 31, 2018. For the quarter ended March 31, 2017, a $1.3 million impairment loss on an equity investment was realized in the Company's consolidated statements of income. |
Allowance for Loan Losses and23
Allowance for Loan Losses and Credit Quality of Loans (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Allowance for Loan Losses and Credit Quality of Loans [Abstract] | |
Portfolio and Class Segments | : Portfolio Class - 2018 Class - 2017 Commercial Loans Commercial and Industrial Commercial Commercial Real Estate Commercial Real Estate Business Banking Agricultural Agricultural Real Estate Business Banking Consumer Loans Dealer Finance Indirect Specialty Lending Home Equity Direct Direct Residential Real Estate Mortgages |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses is maintained at a level estimated by management to provide adequately for probable incurred losses inherent in the current loan portfolio. The appropriateness of the allowance for loan losses is continuously monitored. It is assessed for appropriateness using a methodology designed to ensure the level of the allowance reasonably reflects the loan portfolio's risk profile. It is evaluated to ensure that it is sufficient to absorb all reasonably estimable credit losses inherent in the current loan portfolio. To develop and document a systematic methodology for determining the allowance for loan losses, the Company has divided the loan portfolio into three segments, each with different risk characteristics and methodologies for assessing risk. Those segments are further segregated between our loans accounted for under the amortized cost method (referred to as "originated" loans) and loans acquired in a business combination (referred to as "acquired" loans). Each portfolio segment is broken down into class segments where appropriate. Class segments contain unique measurement attributes, risk characteristics and methods for monitoring and assessing risk that are necessary to develop the allowance for loan losses. Unique characteristics such as borrower type, loan type, collateral type, and risk characteristics define each class segment. As of March 31, 2018, the Company made adjustments to the class segments within the portfolios to better align risk characteristics and reflect the monitoring and assessment of risks as the portfolios continue to evolve. Agricultural Non-Real Estate and Agricultural Real Estate were consolidated with Commercial and Commercial Real Estate, respectively. Agricultural loans are a type of commercial loan with certain specific underwriting guidelines; however, the portfolio has decreased to less than 3% of the Commercial portfolio and separate classification was no longer warranted. The Indirect Lending class segment was further separated into Dealer Finance and Specialty Lending class segments. The growth in our Specialty Lending portfolio to 21% of C onsumer Loans warranted evaluation of this class separately due to different risk characteristics from Dealer Finance class segment. The Direct and Home Equity class segments were consolidated into Direct to reflect common management, similar underwriting and in-market focus. The change to the class segments in the allowance methodology did not have a significant impact on the allowance for loan losses. The following table illustrates the portfolio and class segments for the loan portfolio in 2018 compared to 2017 Commercial Loans The Company offers a variety of commercial loan products including commercial (non-real estate), commercial real estate, agricultural, agricultural real estate and business banking loans. The Company's underwriting analysis for commercial loans typically includes credit verification, independent appraisals, a review of the borrower's financial condition and a detailed analysis of the borrower's underlying cash flows. Commercial and Industrial ("C&I") – Commercial Real Estate ("CRE") – Business Banking - Consumer Loans The Company offers a variety of consumer loan products including Dealer Finance, Specialty Lending and Direct loans. Dealer Finance – Specialty Lending – Direct – Residential Real Estate Mortgages Residential real estate loans consist primarily of loans secured by a first or second mortgage on primary residences. We originate adjustable-rate and fixed-rate, one-to-four-family residential real estate loans for the construction, purchase or refinancing of a mortgage. These loans are collateralized by owner-occupied properties located in the Company’s market area. When market conditions are favorable, for longer term, fixed-rate residential real estate mortgages without escrow, the Company retains the servicing, but sells the right to receive principal and interest to Freddie Mac. This practice allows the Company to manage interest rate risk, liquidity risk and credit risk. Loans on one-to-four-family residential real estate are generally originated in amounts of no more than 85% of the purchase price or appraised value (whichever is lower) or have private mortgage insurance. Mortgage title insurance and hazard insurance are normally required. Construction loans have a unique risk because they are secured by an incomplete dwelling. This risk is reduced through periodic site inspections, including one at each loan draw period. Allowance for Loan Loss Calculation For purposes of evaluating the adequacy of the allowance, the Company considers a number of significant factors that affect the collectability of the portfolio. For individually impaired loans, these include estimates of impairment, if any, which reflect the facts and circumstances that affect the likelihood of repayment of such loans as of the evaluation date. For homogeneous pools of loans, estimates of the Company's exposure to credit loss reflect a current assessment of a number of factors, which could affect collectability. These factors include: past loss experience, size, trend, composition and nature of loans; changes in lending policies and procedures, including underwriting standards and collection, charge-offs and recoveries; trends experienced in nonperforming and delinquent loans; current economic conditions in the Company's market; portfolio concentrations that may affect loss experienced across one or more components of the portfolio; the effect of external factors such as competition, legal and regulatory requirements; and the experience, ability, and depth of lending management and staff. In addition, various regulatory agencies, as an integral component of their examination process, periodically review the Company's allowance for loan losses. Such agencies may require the Company to make loan grade changes as well as recognize additions to the allowance based on their examinations. After a thorough consideration of the factors discussed above, any required additions or reductions to the allowance for loan losses are made periodically by charges or credits to the provision for loan losses. These charges are necessary to maintain the allowance at a level which management believes is reflective of overall level of incurred loss in the portfolio. While management uses available information to recognize losses on loans, additions and reductions of the allowance may fluctuate from one reporting period to another. These fluctuations are reflective of changes in risk associated with portfolio content or changes in management's assessment of any or all of the determining factors discussed above. For acquired loans, to the extent that we experience deterioration in borrower credit quality resulting in a decrease in our expected cash flows subsequent to acquisition of the loans, an allowance for loan losses would be established based on our estimate of incurred losses at the balance sheet date. There was no allowance for loan losses for the acquired loan portfolio as of March 31, 2018 and December 31, 2017. Net charge-offs related to acquired loans totaled approximately $0.1 million and $0.4 million during the three months ended March 31, 2018 and March 31, 2017, respectively, and are included in the table above. Credit Quality of Loans For all loan classes within the Company's loan portfolio, loans are placed on nonaccrual status when timely collection of principal and/or interest in accordance with contractual terms is in doubt. Loans are transferred to nonaccrual status generally when principal or interest payments become ninety days delinquent, unless the loan is well-secured and in the process of collection, or sooner when management concludes circumstances indicate that borrowers may be unable to meet contractual principal or interest payments. When a loan is transferred to a nonaccrual status, all interest previously accrued in the current period but not collected is reversed against interest income in that period. Interest accrued in a prior period and not collected is charged-off against the allowance for loan losses. If ultimate repayment of a nonaccrual loan is expected, any payments received are applied in accordance with contractual terms. If ultimate repayment of principal is not expected, any payment received on a nonaccrual loan is applied to principal until ultimate repayment becomes expected. For all loan classes within the Company's loan portfolio, nonaccrual loans are returned to accrual status when they become current as to principal and interest and demonstrate a period of performance under the contractual terms and, in the opinion of management, are fully collectible as to principal and interest. For loans in all portfolios, the principal amount is charged off in full or in part as soon as management determines, based on available facts, that the collection of principal in full or in part is improbable. For commercial loans, management considers specific facts and circumstances relative to individual credits in making such a determination. For consumer and residential loan classes, management uses specific guidance and thresholds from the Federal Financial Institutions Examination Council's Uniform Retail Credit Classification and Account Management Policy. Impaired Loans The methodology used to establish the allowance for loan losses on impaired loans incorporates specific allocations on loans analyzed individually. Classified loans, including all troubled debt restructured loans (“TDRs”) and nonaccrual commercial loans that are graded Substandard, Doubtful or Loss, with outstanding balances of $750 thousand or more are evaluated for impairment through the Company’s quarterly status review process. The Company considers commercial loans less than $750 thousand to be homogeneous loans. In determining that we will be unable to collect all principal and/or interest payments due in accordance with the contractual terms of the loan agreements, we consider factors such as payment history and changes in the financial condition of individual borrowers, local economic conditions, historical loss experience and the conditions of the various markets in which the collateral may be liquidated. For loans that are identified as impaired, impairment is measured by one of three methods: 1) the fair value of collateral less cost to sell, 2) present value of expected future cash flows or 3) the loan’s observable market price. These impaired loans are reviewed on a quarterly basis for changes in the measurement of impairment. Impaired amounts are charged off immediately if such amounts are determined by management to be uncollectable. Any change to the previously recognized amount of impairment loss is recognized as a component of the provision for loan losses Credit Quality Indicators The Company has developed an internal loan grading system to evaluate and quantify the Company's loan portfolio with respect to quality and risk. The system focuses on, among other things, financial strength of borrowers, experience and depth of borrower's management, primary and secondary sources of repayment, payment history, nature of the business and outlook on particular industries. The internal grading system enables the Company to monitor the quality of the entire loan portfolio on a consistent basis and provide management with an early warning system, enabling recognition and response to problem loans and potential problem loans. Commercial Grading System For commercial and agricultural loans, the Company uses a grading system that relies on quantifiable and measurable characteristics when available. This would include comparison of financial strength to available industry averages, comparison of transaction factors (loan terms and conditions) to loan policy and comparison of credit history to stated repayment terms and industry averages. Some grading factors are necessarily more subjective such as economic and industry factors, regulatory environment and management. Commercial loans are graded Doubtful, Substandard, Special Mention and Pass. ● Doubtful A Doubtful loan has a high probability of total or substantial loss, but because of specific pending events that may strengthen the asset, its classification as a loss is deferred. Doubtful borrowers are usually in default, lack adequate liquidity or capital and lack the resources necessary to remain an operating entity. Pending events can include mergers, acquisitions, liquidations, capital injections, the perfection of liens on additional collateral, the valuation of collateral and refinancing. Generally, pending events should be resolved within a relatively short period and the ratings will be adjusted based on the new information. Nonaccrual treatment is required for Doubtful assets because of the higher probability of loss. ● Substandard Substandard loans have a high probability of payment default or they have other well-defined weaknesses. They require more intensive supervision by bank management. Substandard loans are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity or marginal capitalization. Repayment may depend on collateral or other credit risk mitigants. For some Substandard loans, the likelihood of full collection of interest and principal may be in doubt and those loans should be placed on nonaccrual. Although Substandard assets in the aggregate will have a distinct potential for loss, an individual asset's loss potential does not have to be distinct for the asset to be rated Substandard. ● Special Mention Special Mention loans have potential weaknesses that may, if not checked or corrected, weaken the asset or inadequately protect the Company's position at some future date. These loans pose elevated risk, but their weakness does not yet justify a Substandard classification. Borrowers may be experiencing adverse operating trends (i.e., declining revenues or margins) or may be struggling with an ill-proportioned balance sheet (i.e., increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a Special Mention rating. Although a Special Mention loan has a higher probability of default than a pass asset, its default is not imminent. ● Pass Loans graded as Pass encompass all loans not graded as Doubtful, Substandard or Special Mention. Pass loans are in compliance with loan covenants and payments are generally made as agreed. Pass loans range from superior quality to fair quality. Business Banking Grading System Business banking loans are graded as either Classified or Non-classified: ● Classified Classified loans are inadequately protected by the current worth and paying capacity of the obligor or, if applicable, the collateral pledged. These loans have a well-defined weakness or weaknesses, that jeopardize the liquidation of the debt or in some cases make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Classified loans have a high probability of payment default or a high probability of total or substantial loss. These loans require more intensive supervision by management and are generally characterized by current or expected unprofitable operations, inadequate debt service coverage, inadequate liquidity or marginal capitalization. Repayment may depend on collateral or other credit risk mitigants. When the likelihood of full collection of interest and principal may be in doubt, Classified loans are considered to have a nonaccrual status. In some cases, Classified loans are considered uncollectable and of such little value that their continuance as assets is not warranted. ● Non-classified Loans graded as Non-classified encompass all loans not graded as Classified. Non-classified loans are in compliance with loan covenants and payments are generally made as agreed. Consumer and Residential Real Estate Mortgage Grading System Consumer and Residential Real Estate Mortgage loans are graded as either Nonperforming or Performing. ● Nonperforming Nonperforming loans are loans that are 1) over 90 days past due and interest is still accruing or 2) on nonaccrual status. ● Performing All loans not meeting any of these criteria are considered Performing. |
Troubled Debt Restructuring | Troubled Debt Restructuring When the Company modifies a loan in a troubled debt restructuring, such modifications included one or a combination of the following: an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; temporary reduction in the interest rate or change in scheduled payment amount. Residential and consumer TDRs occurring during 2018 and 2017 were due to the reduction in the interest rate or extension of the term. Commercial TDRs during 2018 and 2017 were both a reduction of the interest rate and change in terms. When the Company modifies a loan in a troubled debt restructuring, management measures for impairment, if any, based on the present value of the expected future cash flows, discounted at the contractual interest rate of the original loan agreement, except when the sole (remaining) source of repayment for the loan is the operation or liquidation of the collateral. In these cases, management uses the current fair value of the collateral, less selling costs. If management determines that the value of the modified loan is less than the recorded investment in the loan an impairment charge would be recognized. |
Defined Benefit Post-retireme24
Defined Benefit Post-retirement Plans (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Defined Benefit Post-retirement Plans [Abstract] | |
Postemployment Benefit Plans, Policy | The Company has a qualified, noncontributory, defined benefit pension plan ("the Plan") covering substantially all of its employees at March 31, 2018. Benefits paid from the plan are based on age, years of service, compensation, social security benefits and are determined in accordance with defined formulas. The Company's policy is to fund the Plan in accordance with Employee Retirement Income Security Act of 1974 standards. Assets of the Plan are invested in publicly traded stocks and mutual funds. In addition to the Plan, the Company provides supplemental employee retirement plans to certain current and former executives. The Company also assumed supplemental retirement plans for certain current and former executives in the Alliance Financial Corporation ("Alliance") acquisition. The supplemental employee retirement plans and the Plan are collectively referred to herein as "Pension Benefits." In addition, the Company provides certain health care benefits for retired employees. Benefits were accrued over the employees' active service period. Only employees that were employed by the Company on or before January 1, 2000 are eligible to receive post-retirement health care benefits. In addition, the Company assumed post-retirement medical life insurance benefits for certain Alliance employees, retirees and their spouses, if applicable, in the Alliance acquisition. These post-retirement benefits are referred to herein as "Other Benefits." |
Earnings Per Share (Policies)
Earnings Per Share (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Basic earnings per share ("EPS") excludes dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity (such as the Company's dilutive stock options and restricted stock units). |
Fair Value Measurements and F26
Fair Value Measurements and Fair Value of Financial Instruments (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Measurements and Fair Value of Financial Instruments [Abstract] | |
Fair Value of Financial Instruments, Policy | GAAP states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value measurements are not adjusted for transaction costs. A fair value hierarchy exists within GAAP that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 - Quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3 - Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The types of instruments valued based on quoted market prices in active markets include most U.S. government and agency securities, many other sovereign government obligations, liquid mortgage products, active listed equities and most money market securities. Such instruments are generally classified within Level 1 or Level 2 of the fair value hierarchy. The Company does not adjust the quoted price for such instruments. The types of instruments valued based on quoted prices in markets that are not active, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency include most investment-grade and high-yield corporate bonds, less liquid mortgage products, less liquid agency securities, less liquid listed equities, state, municipal and provincial obligations and certain physical commodities. Such instruments are generally classified within Level 2 of the fair value hierarchy. Certain common equity securities are reported at fair value utilizing Level 1 inputs (exchange quoted prices). Other investment securities are reported at fair value utilizing Level 1 and Level 2 inputs. The prices for Level 2 instruments are obtained through an independent pricing service or dealer market participants with whom the Company has historically transacted both purchases and sales of investment securities. Prices obtained from these sources include prices derived from market quotations and matrix pricing. 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. Management reviews the methodologies used in pricing the securities by its third party providers. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability and such adjustments are generally based on available market evidence. In the absence of such evidence, management's best estimate will be used. Management's best estimate consists of both internal and external support on certain Level 3 investments. Subsequent to inception, management only changes Level 3 inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending third-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalizations and other transactions across the capital structure, offerings in the equity or debt markets and changes in financial ratios or cash flows. GAAP requires disclosure of assets and liabilities measured and recorded at fair value on a non-recurring basis such as goodwill, loans held for sale, other real estate owned, collateral-dependent impaired loans, mortgage servicing rights and HTM securities. The only non-recurring fair value measurements recorded during the three month period ended March 31, 2018 and year ended December 31, 2017 were related to impaired loans, write-downs of other real estate owned and impairments of goodwill and intangible assets. The Company uses the fair value of underlying collateral, less costs to sell, to estimate the specific reserves for collateral dependent impaired loans. The appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses ranging from 10% to 35%. Based on the valuation techniques used, the fair value measurements for collateral dependent impaired loans are classified as Level 3. Interest Rate Swaps The Company enters into interest rate swaps to facilitate customer transactions and meet their financing needs. These swaps are considered derivatives, but are not designated in hedging relationships. These instruments have interest rate and credit risk associated with them. To mitigate the interest rate risk, the Company enters into offsetting interest rate swaps with counterparties. The counterparty swaps are also considered derivatives and are also not designated in hedging relationships. Interest rate swaps are recorded within other assets or other liabilities on the consolidated balance sheet at their estimated fair value. Changes to the fair value of assets and liabilities arising from these derivatives are included, net, in other operating income in the consolidated statement of income. Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, the Company has a substantial trust and investment management operation that contributes net fee income annually. The trust and investment management operation is not considered a financial instrument and its value has not been incorporated into the fair value estimates. Other significant assets and liabilities include the benefits resulting from the low-cost funding of deposit liabilities as compared to the cost of borrowing funds in the market and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimate of fair value. HTM Securities The fair value of the Company's investment HTM securities is primarily measured using information from a third party pricing service. 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. Net Loans The fair value of the Company’s loans was estimated by discounting the expected future cash flows using the current interest rates at which similar loans would be made for the same remaining maturities, in accordance with the exit price notion as defined by Financial Accounting Standards Board ("FASB") Accounting Standard Codification ("ASC") 820, Fair Value Measurement Financial Instruments - Overall (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities , Time Deposits The fair value of time deposits was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. The fair values of the Company's time deposit liabilities do not take into consideration the value of the Company's long-term relationships with depositors, which may have significant value. Long-Term Debt The fair value of long-term debt was estimated using a discounted cash flow approach that applies prevailing market interest rates for similar maturity instruments. Junior Subordinated Debt The fair value of trust preferred debentures has been estimated using a discounted cash flow analysis. |
Revenue from Contracts with C27
Revenue from Contracts with Customers (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contracts with Customers [Abstract] | |
Revenue Recognition | Effective January 1, 2018, the Company adopted FASB ASU 2014-09, Revenue from Contracts with Customers (ASC Topic 606) Insurance and Other Financial Services Revenue Insurance and other financial services revenue primarily consists of commissions received on insurance and brokered investment product sales. The Company acts as an intermediary between the Company's customer and the insurance carrier. The Company's performance obligation is generally satisfied upon the issuance of the annuity policy. Shortly after the policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. The Company does not earn a significant amount of trailing commission fees on insurance or brokered investment product sales. The majority of the trailing commission fees are calculated based on a percentage of market value of a period end and revenue is recognized when an investment product's market value can be determined. Service Charges on Deposit Accounts Service charges on deposit accounts consist of overdraft fees, monthly service fees, check orders, and other deposit account related fees. Overdraft, monthly service, check orders and other deposit account related fees are transactional based, and therefore, the Company's performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers' accounts. ATM and Debit Card Fees ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Debit card income is primarily comprised of interchange fees earned whenever the Company's debit cards are processed through card payment networks. The Company's performance obligations for these revenue streams are satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Retirement Plan Administration Fees Retirement plan administration fees are primarily generated for services related to the recordkeeping, administration and plan design solutions of defined benefit, defined contribution and revenue sharing plans. Revenue is recognized in arrears for services already provided in accordance with fees established in contracts with customers or based on rates agreed to with investment trade platforms based on ending investment balances held. The Company's performance obligation is satisfied, and related revenue recognized based on services completed or ending investment balances, for which receivables are recorded at the time of revenue recognition. Trust Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts, pensions and other customer assets. The Company's performance obligation is generally satisfied with the resulting fees are recognized monthly, based upon services completed or the month-end market value of the assets under management and the applicable fee rate. Payment is generally received shortly after services are rendered or a few days after month end through a direct charge to customers' accounts. The Company does not earn performance-based incentives. Other Other noninterest income consists of other recurring revenue streams such as account and loan fees, interest rate swap fees, safety deposit box rental fees, and other miscellaneous revenue streams. These revenue streams are primarily transactional based and payment is received immediately or in the following month, and therefore, the Company's performance obligation is satisfied, and related revenue recognized, at a point in time. |
Recent Accounting Pronounceme28
Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Recently Adopted Accounting Standards Effective January 1, 2018, the Company early adopted the provisions of FASB ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income Effective January 1, 2018, the Company early adopted the provisions of FASB ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities adoption did not have an impact on the consolidated financial statements and related disclosures. Effective January 1, 2018, the Company adopted the provisions of FASB ASU 2017-09, Compensation-Stock Compensation (Topic 718) Effective January 1, 2018, the Company adopted the provisions of FASB ASU 2017-07, Compensation – Retirement Benefits (Topic 715) Effective January 1, 2018, the Company adopted the provisions of FASB ASU 2017-05, Other Income – Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) Effective January 1, 2018, the Company adopted the provisions of FASB ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, adoption did not have an impact on the consolidated financial statements and related disclosures. Effective January 1, 2018, the Company adopted the provisions of FASB Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments) The amendments of ASU 2016-15 were applied on a retrospective adoption did not have an impact on the consolidated financial statements and related disclosures. Effective January 1, 2018, the Company adopted the provisions of FASB Financial Instruments - Overall (Subtopic 825-10) – Recognition and Measurement of Financial Assets and Financial Liabilities Effective January 1, 2018, the Company adopted the provisions of Principal versus Agent Considerations (Reporting Revenue Gross versus Net) Identifying Performance Obligations and Licensing Narrow-Scope Improvements and Practical Expedients Technical Corrections and Improvements to Topic 606 - Revenue from Contracts with Customers Management determined that the majority of revenue earned by the Company is from revenue streams not included in the scope of this standard such as interest earned from loans, investment securities and bank owned life insurance income. For applicable revenue streams such as ATM and debit card fees, insurance, other financial services revenue, service charges on deposit accounts, retirement plan administration fees and trust fees, management reviewed the applicable contracts provisions and applied the principles in the new standard for revenue recognition. The amendments of ASU 2014-09 were applied on a modified retrospective basis. There was no cumulative effect adjustment upon adoption on January 1, 2018. The adoption of ASU 2014-09 and all related ASU updates to ASC 606 did not have a significant impact on the consolidated financial statements and related disclosures as of and for the three months ended March 31, 2018. Refer to footnote 10, Revenue from Contracts with Customers, for more information. |
Accounting Standards Issued Not Yet Adopted | Accounting Standards Issued Not Yet Adopted In February 2018, the FASB issued ASU 2018-03, Technical Correction and Improvement to Financial Instruments – Overall (Subtopic 825-10), to clarify certain aspects of the guidance issued in ASU 2016-01. The provisions of ASU 2018-03 are effective July 1, 2018 for interim financial statements but may be early adopted in any interim period starting January 1, 2018 as long as ASU 2016-01 is also adopted. Management is evaluating the effect that this guidance will have on the consolidated financial statements and related disclosures and does not expect the impact to be material. In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20) In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Securities [Abstract] | |
Amortized Cost, Estimated Fair Value, and Unrealized Gains and Losses of Securities Available for Sale | The amortized cost, estimated fair value and unrealized gains (losses) of available for sale ("AFS") securities are as follows: (In thousands) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value As of March 31, 2018 Federal agency $ 139,775 $ - $ 1,316 $ 138,459 State & municipal 39,700 31 345 39,386 Mortgage-backed: Government-sponsored enterprises 524,468 523 11,155 513,836 U.S. government agency securities 30,473 267 545 30,195 Collateralized mortgage obligations: Government-sponsored enterprises 511,727 243 15,541 496,429 U.S. government agency securities 48,944 151 1,488 47,607 Total AFS securities $ 1,295,087 $ 1,215 $ 30,390 $ 1,265,912 As of December 31, 2017 Federal agency $ 109,862 $ - $ 963 $ 108,899 State & municipal 42,171 62 277 41,956 Mortgage-backed: Government-sponsored enterprises 530,392 1,406 3,345 528,453 U.S. government agency securities 26,363 334 223 26,474 Collateralized mortgage obligations: Government-sponsored enterprises 496,033 254 10,114 486,173 U.S. government agency securities 50,721 165 1,065 49,821 Equity securities 10,623 3,672 146 14,149 Total AFS securities $ 1,266,165 $ 5,893 $ 16,133 $ 1,255,925 |
Amortized Cost, Estimated Fair Value, and Unrealized Gains and Losses of Securities Held to Maturity | The amortized cost, estimated fair value and unrealized gains (losses) of securities held to maturity ("HTM") are as follows: (In thousands) Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value As of March 31, 2018 Mortgage-backed: Government-sponsored enterprises $ 93,769 $ - $ 2,749 $ 91,020 U.S. government agency securities 389 47 - 436 Collateralized mortgage obligations: Government-sponsored enterprises 188,260 - 5,004 183,256 State & municipal 204,708 292 2,303 202,697 Total HTM securities $ 487,126 $ 339 $ 10,056 $ 477,409 As of December 31, 2017 Mortgage-backed: Government-sponsored enterprises $ 96,357 $ 85 $ 810 $ 95,632 U.S. government agency securities 418 57 - 475 Collateralized mortgage obligations: Government-sponsored enterprises 186,327 224 2,577 183,974 State & municipal 200,971 1,439 620 201,790 Total HTM securities $ 484,073 $ 1,805 $ 4,007 $ 481,871 |
Investment Securities with Unrealized Losses | The following table sets forth information with regard to investment securities with unrealized losses segregated according to the length of time the securities had been in a continuous unrealized loss position: Less than 12 months 12 months or longer Total (In thousands) Fair Value Unrealized Losses Number of Positions Fair Value Unrealized Losses Number of Positions Fair Value Unrealized Losses Number of Positions As of March 31, 2018 AFS securities: Federal agency $ 74,268 $ (459 ) 6 $ 64,191 $ (857 ) 6 $ 138,459 $ (1,316 ) 12 State & municipal 25,927 (271 ) 44 4,979 (74 ) 7 30,906 (345 ) 51 Mortgage-backed 440,714 (9,582 ) 90 55,185 (2,118 ) 25 495,899 (11,700 ) 115 Collateralized mortgage obligations 249,512 (5,330 ) 38 259,488 (11,699 ) 43 509,000 (17,029 ) 81 Total securities with unrealized losses $ 790,421 $ (15,642 ) 178 $ 383,843 $ (14,748 ) 81 $ 1,174,264 $ (30,390 ) 259 HTM securities: Mortgaged-backed $ 59,070 $ (1,344 ) 4 $ 31,950 $ (1,405 ) 2 $ 91,020 $ (2,749 ) 6 Collateralized mortgage obligations 147,877 (2,864 ) 23 35,379 (2,140 ) 6 183,256 (5,004 ) 29 State & municipal 74,241 (1,299 ) 118 15,177 (1,004 ) 24 89,418 (2,303 ) 142 Total securities with unrealized losses $ 281,188 $ (5,507 ) 145 $ 82,506 $ (4,549 ) 32 $ 363,694 $ (10,056 ) 177 As of December 31, 2017 AFS securities: Federal agency $ 64,653 $ (242 ) 5 $ 44,246 $ (721 ) 4 $ 108,899 $ (963 ) 9 State & municipal 23,566 (200 ) 39 5,994 (77 ) 8 29,560 (277 ) 47 Mortgage-backed 317,630 (2,381 ) 55 58,316 (1,187 ) 24 375,946 (3,568 ) 79 Collateralized mortgage obligations 227,917 (2,658 ) 35 275,303 (8,521 ) 42 503,220 (11,179 ) 77 Equity securities - - - 2,959 (146 ) 1 2,959 (146 ) 1 Total securities with unrealized losses $ 633,766 $ (5,481 ) 134 $ 386,818 $ (10,652 ) 79 $ 1,020,584 $ (16,133 ) 213 HTM securities: Mortgage -backed $ 15,477 $ (140 ) 2 $ 33,703 $ (670 ) 2 $ 49,180 $ (810 ) 4 Collateralized mortgage obligations 118,476 (1,064 ) 17 37,614 (1,513 ) 6 156,090 (2,577 ) 23 State & municipal 22,387 (132 ) 40 15,720 (488 ) 24 38,107 (620 ) 64 Total securities with unrealized losses $ 156,340 $ (1,336 ) 59 $ 87,037 $ (2,671 ) 32 $ 243,377 $ (4,007 ) 91 |
Contractual Maturities of Debt Securities | The following tables set forth information with regard to contractual maturities of debt securities at March 31, 2018: (In thousands) Amortized Cost Estimated Fair Value AFS debt securities: Within one year $ 99,647 $ 99,288 From one to five years 82,353 81,136 From five to ten years 175,040 172,862 After ten years 938,047 912,626 Total AFS debt securities $ 1,295,087 $ 1,265,912 HTM debt securities: Within one year $ 37,885 $ 37,885 From one to five years 43,089 43,159 From five to ten years 208,715 204,710 After ten years 197,437 191,655 Total HTM debt securities $ 487,126 $ 477,409 |
Gains and Losses on Equity Securities | The following tables set forth information with regard to gains and losses on equity securities for the quarter ended March 31, 2018: (In thousands) Net gains and losses recognized on equity securities $ 72 Less: Net gains and losses recognized during the period on equity securities sold during the period 44 Unrealized gains and losses recognized on equity securities still held at March 31, 2018 $ 28 |
Allowance for Loan Losses and30
Allowance for Loan Losses and Credit Quality of Loans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Allowance for Loan Losses and Credit Quality of Loans [Abstract] | |
Portfolio and Class Segments | : Portfolio Class - 2018 Class - 2017 Commercial Loans Commercial and Industrial Commercial Commercial Real Estate Commercial Real Estate Business Banking Agricultural Agricultural Real Estate Business Banking Consumer Loans Dealer Finance Indirect Specialty Lending Home Equity Direct Direct Residential Real Estate Mortgages |
Allowance for Loan Losses by Portfolio | The following tables illustrate the changes in the allowance for loan losses by our portfolio segments: (In thousands) Commercial Loans Consumer Loans Residential Real Estate Mortgages Total Balance as of December 31, 2017 $ 27,606 $ 36,830 $ 5,064 $ 69,500 Charge-offs (805 ) (7,687 ) (182 ) (8,674 ) Recoveries 187 1,644 47 1,878 Provision 1,202 6,186 108 7,496 Ending Balance as of March 31, 2018 $ 28,190 $ 36,973 $ 5,037 $ 70,200 Balance as of December 31, 2016 $ 25,444 $ 33,375 $ 6,381 $ 65,200 Charge-offs (1,294 ) (6,502 ) (598 ) (8,394 ) Recoveries 447 1,035 33 1,515 Provision 130 6,861 388 7,379 Ending Balance as of March 31, 2017 $ 24,727 $ 34,769 $ 6,204 $ 65,700 The following tables illustrate the allowance for loan losses and the recorded investment by portfolio segments: (In thousands) Commercial Loans Consumer Loans Residential Real Estate Mortgages Total As of March 31, 2018 Allowance for loan losses $ 28,190 $ 36,973 $ 5,037 $ 70,200 Allowance for loans individually evaluated for impairment 42 - - 42 Allowance for loans collectively evaluated for impairment 28,148 36,973 5,037 70,158 Ending balance of loans 3,048,003 2,266,054 1,333,067 6,647,124 Ending balance of originated loans individually evaluated for impairment 6,006 8,305 6,771 21,082 Ending balance of acquired loans collectively evaluated for impairment 172,920 40,666 164,123 377,709 Ending balance of originated loans collectively evaluated for impairment $ 2,869,077 $ 2,217,083 $ 1,162,173 $ 6,248,333 As of December 31, 2017 Allowance for loan losses $ 27,606 $ 36,830 $ 5,064 $ 69,500 Allowance for loans individually evaluated for impairment 57 - - 57 Allowance for loans collectively evaluated for impairment 27,549 36,830 5,064 69,443 Ending balance of loans 3,028,269 2,234,809 1,321,695 6,584,773 Ending balance of originated loans individually evaluated for impairment 5,876 8,432 6,830 21,138 Ending balance of acquired loans collectively evaluated for impairment 187,313 43,906 170,472 401,691 Ending balance of originated loans collectively evaluated for impairment $ 2,835,080 $ 2,182,471 $ 1,144,393 $ 6,161,944 |
Past Due and Nonperforming Loans by Loan Class | The following tables set forth information with regard to past due and nonperforming loans by loan class: (In thousands) 31-60 Days Past Due Accruing 61-90 Days Past Due Accruing Greater Than 90 Days Past Due Accruing Total Past Due Accruing NonAccrual Current Recorded Total Loans As of March 31, 2018 Originated Commercial Loans: C&I $ 639 $ 1,268 $ - $ 1,907 $ 1,196 $ 784,845 $ 787,948 CRE 28 - - 28 5,232 1,600,096 1,605,356 Business Banking 2,116 797 - 2,913 6,194 472,672 481,779 Total Commercial Loans $ 2,783 $ 2,065 $ - $ 4,848 $ 12,622 $ 2,857,613 $ 2,875,083 Consumer Loans: Dealer Finance $ 10,850 $ 1,920 $ 987 $ 13,757 $ 2,201 $ 1,224,238 $ 1,240,196 Specialty Lending 3,843 1,627 1,292 6,762 - 464,912 471,674 Direct 2,334 982 401 3,717 2,470 507,331 513,518 Total Consumer Loans $ 17,027 $ 4,529 $ 2,680 $ 24,236 $ 4,671 $ 2,196,481 $ 2,225,388 Residential Real Estate Mortgages $ 2,389 $ 1,635 $ 203 $ 4,227 $ 5,487 $ 1,159,230 $ 1,168,944 Total Originated Loans $ 22,199 $ 8,229 $ 2,883 $ 33,311 $ 22,780 $ 6,213,324 $ 6,269,415 Acquired Commercial Loans: C&I $ - $ - $ - $ - $ - $ 33,484 $ 33,484 CRE - - - - 2 97,463 97,465 Business Banking 539 9 - 548 673 40,750 41,971 Total Commercial Loans $ 539 $ 9 $ - $ 548 $ 675 $ 171,697 $ 172,920 Consumer Loans: Dealer Finance $ 7 $ 3 $ - $ 10 $ 15 $ 577 $ 602 Direct 368 - 51 419 281 39,364 40,064 Total Consumer Loans $ 375 $ 3 $ 51 $ 429 $ 296 $ 39,941 $ 40,666 Residential Real Estate Mortgages $ 565 $ 102 $ - $ 667 $ 1,675 $ 161,781 $ 164,123 Total Acquired Loans $ 1,479 $ 114 $ 51 $ 1,644 $ 2,646 $ 373,419 $ 377,709 Total Loans $ 23,678 $ 8,343 $ 2,934 $ 34,955 $ 25,426 $ 6,586,743 $ 6,647,124 (In thousands) 31-60 Days Past Due Accruing 61-90 Days Past Due Accruing Greater Than 90 Days Past Due Accruing Total Past Due Accruing Non-Accrual Current Recorded Total Loans As of December 31, 2017 Originated Commercial Loans: Commercial $ - $ - $ - $ - $ 202 $ 753,577 $ 753,779 Commercial Real Estate 161 138 - 299 3,178 1,533,065 1,536,542 Agricultural 117 - - 117 1,043 34,386 35,546 Agricultural Real Estate 493 - - 493 2,736 30,905 34,134 Business Banking 1,907 597 - 2,504 5,304 473,147 480,955 Total Commercial Loans $ 2,678 $ 735 $ - $ 3,413 $ 12,463 $ 2,825,080 $ 2,840,956 Consumer Loans: Indirect $ 18,747 $ 4,033 $ 3,492 $ 26,272 $ 2,115 $ 1,642,664 $ 1,671,051 Home Equity 2,887 854 341 4,082 2,736 448,081 454,899 Direct 341 108 70 519 35 64,399 64,953 Total Consumer Loans $ 21,975 $ 4,995 $ 3,903 $ 30,873 $ 4,886 $ 2,155,144 $ 2,190,903 Residential Real Estate Mortgages $ 3,730 $ 667 $ 1,262 $ 5,659 $ 5,987 $ 1,139,577 $ 1,151,223 Total Originated Loans $ 28,383 $ 6,397 $ 5,165 $ 39,945 $ 23,336 $ 6,119,801 $ 6,183,082 Acquired Commercial Loans: Commercial $ - $ - $ - $ - $ - $ 39,575 $ 39,575 Commercial Real Estate - - - - 2 106,632 106,634 Business Banking 354 - - 354 669 40,081 41,104 Total Commercial Loans $ 354 $ - $ - $ 354 $ 671 $ 186,288 $ 187,313 Consumer Loans: Indirect $ 38 $ - $ 1 $ 39 $ 22 $ 1,157 $ 1,218 Home Equity 254 34 103 391 225 39,256 39,872 Direct 6 1 1 8 23 2,785 2,816 Total Consumer Loans $ 298 $ 35 $ 105 $ 438 $ 270 $ 43,198 $ 43,906 Residential Real Estate Mortgages $ 627 $ 226 $ 140 $ 993 $ 1,431 $ 168,048 $ 170,472 Total Acquired Loans $ 1,279 $ 261 $ 245 $ 1,785 $ 2,372 $ 397,534 $ 401,691 Total Loans $ 29,662 $ 6,658 $ 5,410 $ 41,730 $ 25,708 $ 6,517,335 $ 6,584,773 |
Impaired Loans and Specific Reserve Allocations | The following table provides information on impaired loans specifically evaluated for impairment: March 31, 2018 December 31, 2017 (In thousands) Recorded Investment Balance ( Book) Unpaid Principal Related Allowance Recorded Investment Balance ( Book) Unpaid Principal Balance ( Legal) Related Allowance Originated With no related allowance recorded: Commercial Loans: C&I $ 430 $ 696 $ - $ - CRE 4,397 6,362 - - Commercial - - - 251 Commercial Real Estate - - 2,211 3,979 Agricultural - - 452 465 Agricultural Real Estate - - 2,250 2,423 Business Banking 1,078 2,135 860 1,730 Total Commercial Loans $ 5,905 $ 9,193 $ 5,773 $ 8,848 Consumer Loans: Dealer Finance $ 198 $ 216 $ - $ - Direct 8,107 10,077 - - Indirect - - 131 143 Home Equity - - 8,027 9,966 Direct - - 274 274 Total Consumer Loans $ 8,305 $ 10,293 $ 8,432 $ 10,383 Residential Real Estate Mortgages $ 6,771 $ 9,097 $ 6,830 $ 8,780 Total $ 20,981 $ 28,583 $ 21,035 $ 28,011 With an allowance recorded: Commercial Loans: C&I $ 27 $ 26 $ 27 $ - $ - $ - CRE 74 81 15 - - - Commercial Real Estate - - - 76 82 30 Agricultural - - - 27 27 27 Total Commercial Loans $ 101 $ 107 $ 42 $ 103 $ 109 $ 57 Total: $ 21,082 $ 28,690 $ 42 $ 21,138 $ 28,120 $ 57 The following tables summarize the average recorded investments on loans specifically evaluated for impairment and the interest income recognized: For the three months ended March 31, 2018 March 31, 2017 (In thousands) Average Recorded Investment Interest Income Recognized Accrual Average Recorded Investment Interest Income Recognized Accrual Originated Commercial Loans: C&I $ 467 $ - $ - $ - CRE 4,506 32 - - Commercial - - 2,926 - Commercial Real Estate - - 5,995 44 Agricultural - - 173 - Agricultural Real Estate - - 1,580 11 Business Banking 954 5 650 2 Total Commercial Loans $ 5,927 $ 37 $ 11,324 $ 57 Consumer Loans: Dealer Finance $ 184 $ 3 $ - $ - Direct 8,190 109 - - Indirect - - 5 - Home Equity - - 8,431 110 Total Consumer Loans $ 8,374 $ 112 $ 8,436 $ 110 Residential Real Estate Mortgages $ 6,881 $ 73 $ 5,611 $ 39 Total Originated $ 21,182 $ 222 $ 25,371 $ 206 Acquired Commercial Loans: Commercial Real Estate $ - $ - $ 301 $ - Total Commercial Loans $ - $ - $ 301 $ - Total Acquired $ - $ - $ 301 $ - Total Loans $ 21,182 $ 222 $ 25,672 $ 206 |
Financing Receivable Credit Quality by Loan Class | The following tables illustrate the Company's credit quality by loan class: (In thousands) March 31, 2018 Originated Commercial Credit Exposure By Internally Assigned Grade: C&I CRE Total Pass $ $731,934 $ $1,550,184 $ 2,282,118 Special Mention 37,543 15,868 53,411 Substandard 18,471 39,304 57,775 Total $ 787,948 $ 1,605,356 $ 2,393,304 Business Banking Credit Exposure By Internally Assigned Grade: Business Banking Total Non-classified $ 468,842 $ 468,842 Classified 12,937 12,937 Total $ 481,779 $ 481,779 Consumer Credit Exposure By Payment Activity: Dealer Finance Specialty Lending Direct Total Performing $ 1,237,008 $ 470,382 $ 510,647 $ 2,218,037 Nonperforming 3,188 1,292 2,871 7,351 Total $ 1,240,196 $ 471,674 $ 513,518 $ 2,225,388 Residential Real Estate Mortgage Credit Exposure By Payment Activity: Residential Real Estate Mortgage Total Performing $ 1,163,254 $ 1,163,254 Nonperforming 5,690 5,690 Total $ 1,168,944 $ 1,168,944 Acquired Commercial Credit Exposure By Internally Assigned Grade: C&I CRE Total Pass $ 30,699 $ 96,233 $ 126,932 Special Mention 2,069 484 2,553 Substandard 716 748 1,464 Total $ 33,484 $ 97,465 $ 130,949 Business Banking Credit Exposure By Internally Assigned Grade: Business Banking Total Non-classified $ 39,111 $ 39,111 Classified 2,860 2,860 Total $ 41,971 $ 41,971 Consumer Credit Exposure By Payment Activity: Dealer Finance Direct Total Performing $ 587 $ 39,732 $ 40,319 Nonperforming 15 332 347 Total $ 602 $ 40,064 $ 40,666 Residential Real Estate Mortgage Credit Exposure By Payment Activity: Residential Real Estate Mortgage Total Performing $ 162,448 $ 162,448 Nonperforming 1,675 1,675 Total $ 164,123 $ 164,123 (In thousands) As of December 31, 2017 Originated Commercial Credit Exposure By Internally Assigned Grade: Commercial Commercial Real Estate Agricultural Agricultural Real Estate Total Pass $ 708,567 $ 1,481,926 $ 31,142 $ 23,381 $ 2,245,016 Special Mention 30,337 28,264 2,294 2,441 63,336 Substandard 14,875 26,352 2,110 8,312 51,649 Total $ 753,779 $ 1,536,542 $ 35,546 $ 34,134 $ 2,360,001 Business Banking Credit Exposure By Internally Assigned Grade: Business Banking Total Non-classified $ 468,898 $ 468,898 Classified 12,057 12,057 Total $ 480,955 $ 480,955 Consumer Credit Exposure By Payment Activity: Indirect Home Equity Direct Total Performing $ 1,665,444 $ 451,822 $ 64,848 $ 2,182,114 Nonperforming 5,607 3,077 105 8,789 Total $ 1,671,051 $ 454,899 $ 64,953 $ 2,190,903 Residential Real Estate Mortgage Credit Exposure By Payment Activity: Residential Real Estate Mortgage Total Performing $ 1,143,974 $ 1,143,974 Nonperforming 7,249 7,249 Total $ 1,151,223 $ 1,151,223 Acquired Commercial Credit Exposure By Internally Assigned Grade: Commercial Commercial Real Estate Total Pass $ 37,825 $ 103,248 $ 141,073 Special Mention 425 498 923 Substandard 1,325 2,888 4,213 Total $ 39,575 $ 106,634 $ 146,209 Business Banking Credit Exposure By Internally Assigned Grade: Business Banking Total Non-classified $ 38,236 $ 38,236 Classified 2,868 2,868 Total $ 41,104 $ 41,104 Consumer Credit Exposure By Payment Activity: Indirect Home Equity Direct Total Performing $ 1,195 $ 39,544 $ 2,792 $ 43,531 Nonperforming 23 328 24 375 Total $ 1,218 $ 39,872 $ 2,816 $ 43,906 Residential Real Estate Mortgage Credit Exposure By Payment Activity: Residential Real Estate Mortgage Total Performing $ 168,901 $ 168,901 Nonperforming 1,571 1,571 Total $ 170,472 $ 170,472 |
Troubled Debt Restructurings on Financing Receivables | The following tables illustrate the recorded investment and number of modifications for modified loans, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring (dollars in thousands): Three months ended March 31, 2018 (Dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial Business Banking 3 $ 319 $ 410 Total Commercial 3 $ 319 $ 410 Consumer Dealer Finance 6 $ 82 $ 81 Direct 2 41 41 Total Consumer 8 $ 123 $ 122 Residential Real Estate Mortgages 5 323 323 Total Troubled Debt Restructurings 16 $ 765 $ 855 Three months ended March 31, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Consumer Home Equity 2 $ 78 $ 77 Total Consumer 2 $ 78 $ 77 Residential Real Estate Mortgages 1 $ 141 $ 138 Total Troubled Debt Restructurings 3 $ 219 $ 215 The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the period: Three months ended March 31, 2018 Three months ended March 31, 2017 (Dollars in thousands) Number of contracts Recorded Investment Number of contracts Recorded Investment Commercial Loans: Commercial - $ - 1 $ 145 Business Banking 1 200 - - Total Commercial Loans 1 $ 200 - $ 145 Consumer Loans: Indirect - $ - 1 $ 5 Home Equity - - 12 663 Direct 14 870 - - Total Consumer Loans 14 $ 870 13 $ 668 Residential Real Estate Mortgages 8 $ 504 4 $ 167 Total Troubled Debt Restructurings 23 $ 1,574 18 $ 980 |
Defined Benefit Post-retireme31
Defined Benefit Post-retirement Plans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Defined Benefit Post-retirement Plans [Abstract] | |
Components of Net Periodic Pension Benefits and Other Benefit Costs | The components of expense for Pension Benefits and Other Benefits are set forth below: Pension Benefits Other Benefits Three months ended March 31, Three months ended March 31, (In thousands) 2018 2017 2018 2017 Components of net periodic (benefit) cost: Service cost $ 420 $ 402 $ 3 $ 3 Interest cost 920 1,042 82 86 Expected return on plan assets (2,123 ) (1,985 ) - - Net amortization 251 415 44 20 Total net periodic (benefit) cost $ (532 ) $ (126 ) $ 129 $ 109 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Earnings per Share | The following is a reconciliation of basic and diluted EPS for the periods presented in the unaudited interim consolidated statements of income: Three months ended March 31, 2018 2017 (In thousands, except per share data) Basic EPS: Weighted average common shares outstanding 43,663 43,513 Net income available to common stockholders $ 25,986 $ 20,279 Basic EPS $ 0.60 $ 0.47 Diluted EPS: Weighted average common shares outstanding 43,663 43,513 Dilutive effect of common stock options and restricted stock 312 370 Weighted average common shares and common share equivalents 43,975 43,883 Net income available to common stockholders $ 25,986 $ 20,279 Diluted EPS $ 0.59 $ 0.46 |
Reclassification Adjustments 33
Reclassification Adjustments Out of Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Reclassification Adjustments Out of Other Comprehensive Income (Loss) [Abstract] | |
Reclassification Out of Accumulated Other Comprehensive Income | The following table summarizes the reclassification adjustments out of accumulated other comprehensive income (loss): Detail About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statement of Comprehensive Income (Loss) Three months ended (In thousands) March 31, 2018 March 31, 2017 AFS securities: Amortization of unrealized gains related to securities transfer $ 188 $ 238 Interest income Impairment write-down of an equity security - 1,312 Other noninterest income Net unrealized (gains) losses on cash flow hedges reclassified to interest expense (359 ) 82 Interest expense Tax effect 43 (623 ) Income tax (expense) benefit Net of tax $ (128 ) $ 1,009 Pension and other benefits: Amortization of net losses $ 273 $ 435 Other noninterest expense Amortization of prior service costs 22 - Other noninterest expense Tax effect (74 ) (166 ) Income tax (expense) benefit Net of tax $ 221 $ 269 Total reclassifications, net of tax $ 93 $ 1,278 |
Fair Value Measurements and F34
Fair Value Measurements and Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Measurements and Fair Value of Financial Instruments [Abstract] | |
Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis | The following tables set forth the Company's financial assets and liabilities measured on a recurring basis that were accounted for at fair value. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement: (In thousands) Level 1 Level 2 Level 3 March 31, 2018 Assets: AFS securities: Federal agency $ - $ 138,459 $ - $ 138,459 State & municipal - 39,386 - 39,386 Mortgage-backed - 544,031 - 544,031 Collateralized mortgage obligations - 544,036 - 544,036 Total AFS securities $ - $ 1,265,912 $ - $ 1,265,912 Equity securities 17,010 4,982 - 21,992 Derivatives - 13,414 - 13,414 Total $ 17,010 $ 1,284,308 $ - $ 1,301,318 Liabilities: Derivatives $ - $ 9,514 $ - $ 9,514 Total $ - $ 9,514 $ - $ 9,514 (In thousands) Level 1 Level 2 Level 3 December 31, 2017 Assets: AFS securities: Federal agency $ - $ 108,899 $ - $ 108,899 State & municipal - 41,956 - 41,956 Mortgage-backed - 554,927 - 554,927 Collateralized mortgage obligations - 535,994 - 535,994 Other securities 5,845 8,304 - 14,149 Total AFS securities $ 5,845 $ 1,250,080 $ - $ 1,255,925 Trading securities 11,467 - - 11,467 Derivatives - 3,732 - 3,732 Total $ 17,312 $ 1,253,812 $ - $ 1,271,124 Liabilities: Derivatives $ - $ 324 $ - $ 324 Total $ - $ 324 $ - $ 324 |
Fair Value of Financial Instruments by Balance Sheet Grouping | The following table sets forth information with regard to estimated fair values of financial instruments. This table excludes financial instruments for which the carrying amount approximates fair value. Financial instruments for which the fair value approximates carrying value include cash and cash equivalents, AFS securities, equity securities, trading securities, accrued interest receivable, non-maturity deposits, short-term borrowings, accrued interest payable and interest rate swaps. March 31, 2018 December 31, 2017 (In thousands) Fair Value Hierarchy Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial assets: HTM securities 2 $ 487,126 $ 477,409 $ 484,073 $ 481,871 Net loans 3 6,576,924 6,612,392 6,515,273 6,651,931 Financial liabilities: Time deposits 2 $ 840,425 $ 833,181 $ 806,766 $ 801,294 Long-term debt 2 88,824 87,538 88,869 88,346 Junior subordinated debt 2 101,196 101,986 101,196 104,593 |
Revenue from Contracts with C35
Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contracts with Customers [Abstract] | |
Non-interest Income | The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of ASC 606, for the three months ended March 31, 2018 (In thousands) 2018 2017 Noninterest income In-scope of ASC 606 Insurance and other financial services revenue $ 6,504 $ 6,770 Service charges on deposit accounts 3,972 3,977 ATM and debit card fees 5,273 4,950 Retirement plan administration fees 5,339 4,172 Trust 4,878 4,532 Other 3,892 2,938 Total noninterest income in-scope of ASC 606 $ 29,858 $ 27,339 Total noninterest income out-of-scope of ASC 606 1,419 1,411 Total noninterest income $ 31,277 $ 28,750 |
Securities, Available for Sale
Securities, Available for Sale (Details) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018USD ($)Position | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($)Position | |
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | $ 1,295,087 | $ 1,266,165 | |
Unrealized gains | 1,215 | 5,893 | |
Unrealized losses | 30,390 | 16,133 | |
Estimated fair value | 1,265,912 | 1,255,925 | |
Unrealized Loss Position, Fair Value [Abstract] | |||
Less than 12 months | 790,421 | 633,766 | |
12 months or longer | 383,843 | 386,818 | |
Total | 1,174,264 | 1,020,584 | |
Unrealized Loss Position, Unrealized Losses [Abstract] | |||
Less than 12 months | (15,642) | (5,481) | |
12 months or longer | (14,748) | (10,652) | |
Total | $ (30,390) | $ (16,133) | |
Unrealized Loss Position, Number of Positions [Abstract] | |||
Less than 12 months | Position | 178 | 134 | |
12 months or longer | Position | 81 | 79 | |
Total | Position | 259 | 213 | |
OTTI loss realized on equity investment | $ 0 | $ 1,300 | |
Available-for-sale Securities, Debt Maturities, Amortized Cost [Abstract] | |||
Within one year | 99,647 | ||
From one to five years | 82,353 | ||
From five to ten years | 175,040 | ||
After ten years | 938,047 | ||
Amortized cost | 1,295,087 | ||
Available-for-sale Securities, Debt Maturities, Estimated Fair Value [Abstract] | |||
Within one year | 99,288 | ||
From one to five years | 81,136 | ||
From five to ten years | 172,862 | ||
After ten years | 912,626 | ||
Fair value | 1,265,912 | ||
Federal Agency [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | 139,775 | $ 109,862 | |
Unrealized gains | 0 | 0 | |
Unrealized losses | 1,316 | 963 | |
Estimated fair value | 138,459 | 108,899 | |
Unrealized Loss Position, Fair Value [Abstract] | |||
Less than 12 months | 74,268 | 64,653 | |
12 months or longer | 64,191 | 44,246 | |
Total | 138,459 | 108,899 | |
Unrealized Loss Position, Unrealized Losses [Abstract] | |||
Less than 12 months | (459) | (242) | |
12 months or longer | (857) | (721) | |
Total | $ (1,316) | $ (963) | |
Unrealized Loss Position, Number of Positions [Abstract] | |||
Less than 12 months | Position | 6 | 5 | |
12 months or longer | Position | 6 | 4 | |
Total | Position | 12 | 9 | |
State & Municipal [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | $ 39,700 | $ 42,171 | |
Unrealized gains | 31 | 62 | |
Unrealized losses | 345 | 277 | |
Estimated fair value | 39,386 | 41,956 | |
Unrealized Loss Position, Fair Value [Abstract] | |||
Less than 12 months | 25,927 | 23,566 | |
12 months or longer | 4,979 | 5,994 | |
Total | 30,906 | 29,560 | |
Unrealized Loss Position, Unrealized Losses [Abstract] | |||
Less than 12 months | (271) | (200) | |
12 months or longer | (74) | (77) | |
Total | $ (345) | $ (277) | |
Unrealized Loss Position, Number of Positions [Abstract] | |||
Less than 12 months | Position | 44 | 39 | |
12 months or longer | Position | 7 | 8 | |
Total | Position | 51 | 47 | |
Mortgage-Backed [Member] | |||
Unrealized Loss Position, Fair Value [Abstract] | |||
Less than 12 months | $ 440,714 | $ 317,630 | |
12 months or longer | 55,185 | 58,316 | |
Total | 495,899 | 375,946 | |
Unrealized Loss Position, Unrealized Losses [Abstract] | |||
Less than 12 months | (9,582) | (2,381) | |
12 months or longer | (2,118) | (1,187) | |
Total | $ (11,700) | $ (3,568) | |
Unrealized Loss Position, Number of Positions [Abstract] | |||
Less than 12 months | Position | 90 | 55 | |
12 months or longer | Position | 25 | 24 | |
Total | Position | 115 | 79 | |
Mortgage-Backed, Government Sponsored Enterprises [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | $ 524,468 | $ 530,392 | |
Unrealized gains | 523 | 1,406 | |
Unrealized losses | 11,155 | 3,345 | |
Estimated fair value | 513,836 | 528,453 | |
Mortgage-Backed, U.S. Government Agency Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | 30,473 | 26,363 | |
Unrealized gains | 267 | 334 | |
Unrealized losses | 545 | 223 | |
Estimated fair value | 30,195 | 26,474 | |
Collateralized Mortgage Obligations [Member] | |||
Unrealized Loss Position, Fair Value [Abstract] | |||
Less than 12 months | 249,512 | 227,917 | |
12 months or longer | 259,488 | 275,303 | |
Total | 509,000 | 503,220 | |
Unrealized Loss Position, Unrealized Losses [Abstract] | |||
Less than 12 months | (5,330) | (2,658) | |
12 months or longer | (11,699) | (8,521) | |
Total | $ (17,029) | $ (11,179) | |
Unrealized Loss Position, Number of Positions [Abstract] | |||
Less than 12 months | Position | 38 | 35 | |
12 months or longer | Position | 43 | 42 | |
Total | Position | 81 | 77 | |
Collateralized Mortgage Obligations, Government-Sponsored Enterprises [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | $ 511,727 | $ 496,033 | |
Unrealized gains | 243 | 254 | |
Unrealized losses | 15,541 | 10,114 | |
Estimated fair value | 496,429 | 486,173 | |
Collateralized Mortgage Obligations, U.S. Government Agency Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | 48,944 | 50,721 | |
Unrealized gains | 151 | 165 | |
Unrealized losses | 1,488 | 1,065 | |
Estimated fair value | $ 47,607 | 49,821 | |
Equity Securities [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Amortized cost | 10,623 | ||
Unrealized gains | 3,672 | ||
Unrealized losses | 146 | ||
Estimated fair value | 14,149 | ||
Unrealized Loss Position, Fair Value [Abstract] | |||
Less than 12 months | 0 | ||
12 months or longer | 2,959 | ||
Total | 2,959 | ||
Unrealized Loss Position, Unrealized Losses [Abstract] | |||
Less than 12 months | 0 | ||
12 months or longer | (146) | ||
Total | $ (146) | ||
Unrealized Loss Position, Number of Positions [Abstract] | |||
Less than 12 months | Position | 0 | ||
12 months or longer | Position | 1 | ||
Total | Position | 1 |
Securities, Held to Maturity (D
Securities, Held to Maturity (Details) $ in Thousands | Mar. 31, 2018USD ($)Position | Dec. 31, 2017USD ($)Position |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | $ 487,126 | $ 484,073 |
Unrealized gains | 339 | 1,805 |
Unrealized losses | 10,056 | 4,007 |
Estimated fair value | 477,409 | 481,871 |
Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months | 281,188 | 156,340 |
12 months or longer | 82,506 | 87,037 |
Total | 363,694 | 243,377 |
Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months | (5,507) | (1,336) |
12 months or longer | (4,549) | (2,671) |
Total | $ (10,056) | $ (4,007) |
Unrealized Loss Position, Number of Positions [Abstract] | ||
Less than 12 months | Position | 145 | 59 |
12 months or longer | Position | 32 | 32 |
Total | Position | 177 | 91 |
Amortized costs of securities held to maturity pledged to secure public deposits | $ 1,600,000 | $ 1,500,000 |
Amortized costs of securities held to maturity pledged as collateral for repurchase agreements | 218,300 | 231,300 |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Within one year | 37,885 | |
From one to five years | 43,089 | |
From five to ten years | 208,715 | |
After ten years | 197,437 | |
Amortized cost | 487,126 | 484,073 |
Held-to-maturity Securities, Debt Maturities, Estimated Fair Value [Abstract] | ||
Within one year | 37,885 | |
From one to five years | 43,159 | |
From five to ten years | 204,710 | |
After ten years | 191,655 | |
Fair value | 477,409 | 481,871 |
Mortgage-Backed [Member] | ||
Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months | 59,070 | 15,477 |
12 months or longer | 31,950 | 33,703 |
Total | 91,020 | 49,180 |
Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months | (1,344) | (140) |
12 months or longer | (1,405) | (670) |
Total | $ (2,749) | $ (810) |
Unrealized Loss Position, Number of Positions [Abstract] | ||
Less than 12 months | Position | 4 | 2 |
12 months or longer | Position | 2 | 2 |
Total | Position | 6 | 4 |
Mortgage-Backed, Government Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | $ 93,769 | $ 96,357 |
Unrealized gains | 0 | 85 |
Unrealized losses | 2,749 | 810 |
Estimated fair value | 91,020 | 95,632 |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Amortized cost | 93,769 | 96,357 |
Held-to-maturity Securities, Debt Maturities, Estimated Fair Value [Abstract] | ||
Fair value | 91,020 | 95,632 |
Mortgage-Backed, U.S. Government Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | 389 | 418 |
Unrealized gains | 47 | 57 |
Unrealized losses | 0 | 0 |
Estimated fair value | 436 | 475 |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Amortized cost | 389 | 418 |
Held-to-maturity Securities, Debt Maturities, Estimated Fair Value [Abstract] | ||
Fair value | 436 | 475 |
Collateralized Mortgage Obligations [Member] | ||
Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months | 147,877 | 118,476 |
12 months or longer | 35,379 | 37,614 |
Total | 183,256 | 156,090 |
Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months | (2,864) | (1,064) |
12 months or longer | (2,140) | (1,513) |
Total | $ (5,004) | $ (2,577) |
Unrealized Loss Position, Number of Positions [Abstract] | ||
Less than 12 months | Position | 23 | 17 |
12 months or longer | Position | 6 | 6 |
Total | Position | 29 | 23 |
Collateralized Mortgage Obligations, Government-Sponsored Enterprises [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | $ 188,260 | $ 186,327 |
Unrealized gains | 0 | 224 |
Unrealized losses | 5,004 | 2,577 |
Estimated fair value | 183,256 | 183,974 |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Amortized cost | 188,260 | 186,327 |
Held-to-maturity Securities, Debt Maturities, Estimated Fair Value [Abstract] | ||
Fair value | 183,256 | 183,974 |
State & Municipal [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized cost | 204,708 | 200,971 |
Unrealized gains | 292 | 1,439 |
Unrealized losses | 2,303 | 620 |
Estimated fair value | 202,697 | 201,790 |
Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 months | 74,241 | 22,387 |
12 months or longer | 15,177 | 15,720 |
Total | 89,418 | 38,107 |
Unrealized Loss Position, Unrealized Losses [Abstract] | ||
Less than 12 months | (1,299) | (132) |
12 months or longer | (1,004) | (488) |
Total | $ (2,303) | $ (620) |
Unrealized Loss Position, Number of Positions [Abstract] | ||
Less than 12 months | Position | 118 | 40 |
12 months or longer | Position | 24 | 24 |
Total | Position | 142 | 64 |
Held-to-maturity Securities, Debt Maturities, Amortized Cost [Abstract] | ||
Amortized cost | $ 204,708 | $ 200,971 |
Held-to-maturity Securities, Debt Maturities, Estimated Fair Value [Abstract] | ||
Fair value | $ 202,697 | $ 201,790 |
Securities, Unrealized Gains (L
Securities, Unrealized Gains (Losses) Related to Equity Securities (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)Issuer | Dec. 31, 2017Issuer | |
Gains and losses on equity securities [Abstract] | ||
Net gains and losses recognized on equity securities | $ 72 | |
Less: Net gains and losses recognized during the period on equity securities sold during the period | 44 | |
Unrealized gains and losses recognized on equity securities still held at March 31, 2017 | 28 | |
Carrying amount of equity securities without readily determinable fair values | 5,000 | |
Impairment adjustments of equity securities without readily determinable fair values | 0 | |
Downward adjustments of equity securities without readily determinable fair values | 0 | |
Upward adjustments of equity securities without readily determinable fair values | $ 0 | |
Number of issuers whose holdings exceeded 10% of consolidated stockholders' equity, excluding U.S. Government securities | Issuer | 0 | 0 |
Allowance for Loan Losses and39
Allowance for Loan Losses and Credit Quality of Loans (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($)Segment | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan portfolio segments | Segment | 3 |
Agricultural [Member] | Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan amount, percentage of commercial portfolio | 3.00% |
Specialty Lending [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan amount, percentage of consumer portfolio | 21.00% |
Commercial Loans [Member] | Commercial Real Estate [Member] | Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan amount, percentage of appraised value or purchase price of the property | 80.00% |
Commercial Loans [Member] | Agricultural Real Estate [Member] | Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan amount, percentage of appraised value or purchase price of the property | 75.00% |
Commercial Loans [Member] | Business Banking [Member] | Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Business banking loans, amount available | $ | $ 750 |
Consumer Loans [Member] | Dealer Finance [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Percentage of automobile financing to indirect relationships with dealers | 70.00% |
Consumer Loans [Member] | Dealer Finance [Member] | Minimum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Principal repayment term of loan | 3 years |
Consumer Loans [Member] | Dealer Finance [Member] | Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Principal repayment term of loan | 6 years |
Consumer Loans [Member] | Direct [Member] | Minimum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Principal repayment term of loan | 1 year |
Consumer Loans [Member] | Direct [Member] | Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Principal repayment term of loan | 10 years |
Consumer Loans [Member] | Home Equity [Member] | Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan amount, percentage of equity in property | 85.00% |
Residential Real Estate Mortgages [Member] | Maximum [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Loan amount, percentage of appraised value or purchase price of the property | 85.00% |
Allowance for Loan Losses and40
Allowance for Loan Losses and Credit Quality of Loans, Allowance for Loan Losses by Portfolio Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Changes in allowance for loan losses by portfolio segment [Roll Forward] | ||
Balance, beginning of period | $ 69,500 | $ 65,200 |
Charge-offs | (8,674) | (8,394) |
Recoveries | 1,878 | 1,515 |
Provision | 7,496 | 7,379 |
Balance, end of period | 70,200 | 65,700 |
Commercial Loans [Member] | ||
Changes in allowance for loan losses by portfolio segment [Roll Forward] | ||
Balance, beginning of period | 27,606 | 25,444 |
Charge-offs | (805) | (1,294) |
Recoveries | 187 | 447 |
Provision | 1,202 | 130 |
Balance, end of period | 28,190 | 24,727 |
Consumer Loans [Member] | ||
Changes in allowance for loan losses by portfolio segment [Roll Forward] | ||
Balance, beginning of period | 36,830 | 33,375 |
Charge-offs | (7,687) | (6,502) |
Recoveries | 1,644 | 1,035 |
Provision | 6,186 | 6,861 |
Balance, end of period | 36,973 | 34,769 |
Residential Real Estate Mortgages [Member] | ||
Changes in allowance for loan losses by portfolio segment [Roll Forward] | ||
Balance, beginning of period | 5,064 | 6,381 |
Charge-offs | (182) | (598) |
Recoveries | 47 | 33 |
Provision | 108 | 388 |
Balance, end of period | 5,037 | 6,204 |
Acquired Loans [Member] | ||
Changes in allowance for loan losses by portfolio segment [Roll Forward] | ||
Balance, beginning of period | 0 | |
Charge-offs | 100 | $ 400 |
Balance, end of period | $ 0 |
Allowance for Loan Losses and41
Allowance for Loan Losses and Credit Quality of Loans, Allowance for Loan Losses and Recorded Investment in Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Allowance for loan losses | $ 70,200 | $ 69,500 | $ 65,700 | $ 65,200 |
Allowance for loans individually evaluated for impairment | 42 | 57 | ||
Allowance for loans collectively evaluated for impairment | 70,158 | 69,443 | ||
Ending balance of loans | 6,647,124 | 6,584,773 | ||
Commercial Loans [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Allowance for loan losses | 28,190 | 27,606 | 24,727 | 25,444 |
Allowance for loans individually evaluated for impairment | 42 | 57 | ||
Allowance for loans collectively evaluated for impairment | 28,148 | 27,549 | ||
Ending balance of loans | 3,048,003 | 3,028,269 | ||
Consumer Loans [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Allowance for loan losses | 36,973 | 36,830 | 34,769 | 33,375 |
Allowance for loans individually evaluated for impairment | 0 | 0 | ||
Allowance for loans collectively evaluated for impairment | 36,973 | 36,830 | ||
Ending balance of loans | 2,266,054 | 2,234,809 | ||
Residential Real Estate Mortgages [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Allowance for loan losses | 5,037 | 5,064 | $ 6,204 | $ 6,381 |
Allowance for loans individually evaluated for impairment | 0 | 0 | ||
Allowance for loans collectively evaluated for impairment | 5,037 | 5,064 | ||
Ending balance of loans | 1,333,067 | 1,321,695 | ||
Originated Loans [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Ending balance of loans | 6,269,415 | 6,183,082 | ||
Ending balance of loans individually evaluated for impairment | 21,082 | 21,138 | ||
Ending balance of loans collectively evaluated for impairment | 6,248,333 | 6,161,944 | ||
Originated Loans [Member] | Commercial Loans [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Ending balance of loans | 2,875,083 | 2,840,956 | ||
Ending balance of loans individually evaluated for impairment | 6,006 | 5,876 | ||
Ending balance of loans collectively evaluated for impairment | 2,869,077 | 2,835,080 | ||
Originated Loans [Member] | Consumer Loans [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Ending balance of loans | 2,225,388 | 2,190,903 | ||
Ending balance of loans individually evaluated for impairment | 8,305 | 8,432 | ||
Ending balance of loans collectively evaluated for impairment | 2,217,083 | 2,182,471 | ||
Originated Loans [Member] | Residential Real Estate Mortgages [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Ending balance of loans | 1,168,944 | 1,151,223 | ||
Ending balance of loans individually evaluated for impairment | 6,771 | 6,830 | ||
Ending balance of loans collectively evaluated for impairment | 1,162,173 | 1,144,393 | ||
Acquired Loans [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Allowance for loan losses | 0 | 0 | ||
Ending balance of loans | 377,709 | 401,691 | ||
Ending balance of loans collectively evaluated for impairment | 377,709 | 401,691 | ||
Acquired Loans [Member] | Commercial Loans [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Ending balance of loans | 172,920 | 187,313 | ||
Ending balance of loans collectively evaluated for impairment | 172,920 | 187,313 | ||
Acquired Loans [Member] | Consumer Loans [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Ending balance of loans | 40,666 | 43,906 | ||
Ending balance of loans collectively evaluated for impairment | 40,666 | 43,906 | ||
Acquired Loans [Member] | Residential Real Estate Mortgages [Member] | ||||
Allowance for loan losses and recorded investment by portfolio segment [Abstract] | ||||
Ending balance of loans | 164,123 | 170,472 | ||
Ending balance of loans collectively evaluated for impairment | $ 164,123 | $ 170,472 |
Allowance for Loan Losses and42
Allowance for Loan Losses and Credit Quality of Loans, Past Due Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Minimum number of days past due for nonaccrual loan status | 90 days | |
Total past due accruing | $ 34,955 | $ 41,730 |
Nonaccrual | 25,426 | 25,708 |
Current | 6,586,743 | 6,517,335 |
Recorded total loans | 6,647,124 | 6,584,773 |
31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 23,678 | 29,662 |
61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 8,343 | 6,658 |
Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,934 | 5,410 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Recorded total loans | 3,048,003 | 3,028,269 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Recorded total loans | 2,266,054 | 2,234,809 |
Residential Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Recorded total loans | 1,333,067 | 1,321,695 |
Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 33,311 | 39,945 |
Nonaccrual | 22,780 | 23,336 |
Current | 6,213,324 | 6,119,801 |
Recorded total loans | 6,269,415 | 6,183,082 |
Originated Loans [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 22,199 | 28,383 |
Originated Loans [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 8,229 | 6,397 |
Originated Loans [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,883 | 5,165 |
Originated Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 4,848 | 3,413 |
Nonaccrual | 12,622 | 12,463 |
Current | 2,857,613 | 2,825,080 |
Recorded total loans | 2,875,083 | 2,840,956 |
Originated Loans [Member] | Commercial Loans [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,783 | 2,678 |
Originated Loans [Member] | Commercial Loans [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,065 | 735 |
Originated Loans [Member] | Commercial Loans [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | 0 |
Originated Loans [Member] | Commercial Loans [Member] | C&I [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1,907 | |
Nonaccrual | 1,196 | |
Current | 784,845 | |
Recorded total loans | 787,948 | |
Originated Loans [Member] | Commercial Loans [Member] | C&I [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 639 | |
Originated Loans [Member] | Commercial Loans [Member] | C&I [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1,268 | |
Originated Loans [Member] | Commercial Loans [Member] | C&I [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | CRE [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 28 | |
Nonaccrual | 5,232 | |
Current | 1,600,096 | |
Recorded total loans | 1,605,356 | |
Originated Loans [Member] | Commercial Loans [Member] | CRE [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 28 | |
Originated Loans [Member] | Commercial Loans [Member] | CRE [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | CRE [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Nonaccrual | 202 | |
Current | 753,577 | |
Recorded total loans | 753,779 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 299 | |
Nonaccrual | 3,178 | |
Current | 1,533,065 | |
Recorded total loans | 1,536,542 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 161 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 138 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 117 | |
Nonaccrual | 1,043 | |
Current | 34,386 | |
Recorded total loans | 35,546 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 117 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 493 | |
Nonaccrual | 2,736 | |
Current | 30,905 | |
Recorded total loans | 34,134 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural Real Estate [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 493 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural Real Estate [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural Real Estate [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,913 | 2,504 |
Nonaccrual | 6,194 | 5,304 |
Current | 472,672 | 473,147 |
Recorded total loans | 481,779 | 480,955 |
Originated Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,116 | 1,907 |
Originated Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 797 | 597 |
Originated Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | 0 |
Originated Loans [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 24,236 | 30,873 |
Nonaccrual | 4,671 | 4,886 |
Current | 2,196,481 | 2,155,144 |
Recorded total loans | 2,225,388 | 2,190,903 |
Originated Loans [Member] | Consumer Loans [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 17,027 | 21,975 |
Originated Loans [Member] | Consumer Loans [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 4,529 | 4,995 |
Originated Loans [Member] | Consumer Loans [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,680 | 3,903 |
Originated Loans [Member] | Consumer Loans [Member] | Indirect [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 26,272 | |
Nonaccrual | 2,115 | |
Current | 1,642,664 | |
Recorded total loans | 1,671,051 | |
Originated Loans [Member] | Consumer Loans [Member] | Indirect [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 18,747 | |
Originated Loans [Member] | Consumer Loans [Member] | Indirect [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 4,033 | |
Originated Loans [Member] | Consumer Loans [Member] | Indirect [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 3,492 | |
Originated Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 13,757 | |
Nonaccrual | 2,201 | |
Current | 1,224,238 | |
Recorded total loans | 1,240,196 | |
Originated Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 10,850 | |
Originated Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1,920 | |
Originated Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 987 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 3,717 | |
Nonaccrual | 2,470 | |
Current | 507,331 | |
Recorded total loans | 513,518 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,334 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 982 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 401 | |
Originated Loans [Member] | Consumer Loans [Member] | Specialty Lending [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 6,762 | |
Nonaccrual | 0 | |
Current | 464,912 | |
Recorded total loans | 471,674 | |
Originated Loans [Member] | Consumer Loans [Member] | Specialty Lending [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 3,843 | |
Originated Loans [Member] | Consumer Loans [Member] | Specialty Lending [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1,627 | |
Originated Loans [Member] | Consumer Loans [Member] | Specialty Lending [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1,292 | |
Originated Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 4,082 | |
Nonaccrual | 2,736 | |
Current | 448,081 | |
Recorded total loans | 454,899 | |
Originated Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,887 | |
Originated Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 854 | |
Originated Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 341 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 519 | |
Nonaccrual | 35 | |
Current | 64,399 | |
Recorded total loans | 64,953 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 341 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 108 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 70 | |
Originated Loans [Member] | Residential Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 4,227 | 5,659 |
Nonaccrual | 5,487 | 5,987 |
Current | 1,159,230 | 1,139,577 |
Recorded total loans | 1,168,944 | 1,151,223 |
Originated Loans [Member] | Residential Real Estate Mortgages [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 2,389 | 3,730 |
Originated Loans [Member] | Residential Real Estate Mortgages [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1,635 | 667 |
Originated Loans [Member] | Residential Real Estate Mortgages [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 203 | 1,262 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1,644 | 1,785 |
Nonaccrual | 2,646 | 2,372 |
Current | 373,419 | 397,534 |
Recorded total loans | 377,709 | 401,691 |
Acquired Loans [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1,479 | 1,279 |
Acquired Loans [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 114 | 261 |
Acquired Loans [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 51 | 245 |
Acquired Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 548 | 354 |
Nonaccrual | 675 | 671 |
Current | 171,697 | 186,288 |
Recorded total loans | 172,920 | 187,313 |
Acquired Loans [Member] | Commercial Loans [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 539 | 354 |
Acquired Loans [Member] | Commercial Loans [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 9 | 0 |
Acquired Loans [Member] | Commercial Loans [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | 0 |
Acquired Loans [Member] | Commercial Loans [Member] | C&I [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Nonaccrual | 0 | |
Current | 33,484 | |
Recorded total loans | 33,484 | |
Acquired Loans [Member] | Commercial Loans [Member] | C&I [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | C&I [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | C&I [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | CRE [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Nonaccrual | 2 | |
Current | 97,463 | |
Recorded total loans | 97,465 | |
Acquired Loans [Member] | Commercial Loans [Member] | CRE [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | CRE [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | CRE [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Nonaccrual | 0 | |
Current | 39,575 | |
Recorded total loans | 39,575 | |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Nonaccrual | 2 | |
Current | 106,632 | |
Recorded total loans | 106,634 | |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 548 | 354 |
Nonaccrual | 673 | 669 |
Current | 40,750 | 40,081 |
Recorded total loans | 41,971 | 41,104 |
Acquired Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 539 | 354 |
Acquired Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 9 | 0 |
Acquired Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | 0 |
Acquired Loans [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 429 | 438 |
Nonaccrual | 296 | 270 |
Current | 39,941 | 43,198 |
Recorded total loans | 40,666 | 43,906 |
Acquired Loans [Member] | Consumer Loans [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 375 | 298 |
Acquired Loans [Member] | Consumer Loans [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 3 | 35 |
Acquired Loans [Member] | Consumer Loans [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 51 | 105 |
Acquired Loans [Member] | Consumer Loans [Member] | Indirect [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 39 | |
Nonaccrual | 22 | |
Current | 1,157 | |
Recorded total loans | 1,218 | |
Acquired Loans [Member] | Consumer Loans [Member] | Indirect [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 38 | |
Acquired Loans [Member] | Consumer Loans [Member] | Indirect [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Consumer Loans [Member] | Indirect [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 1 | |
Acquired Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 10 | |
Nonaccrual | 15 | |
Current | 577 | |
Recorded total loans | 602 | |
Acquired Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 7 | |
Acquired Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 3 | |
Acquired Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | |
Acquired Loans [Member] | Consumer Loans [Member] | Direct [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 419 | 8 |
Nonaccrual | 281 | 23 |
Current | 39,364 | 2,785 |
Recorded total loans | 40,064 | 2,816 |
Acquired Loans [Member] | Consumer Loans [Member] | Direct [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 368 | 6 |
Acquired Loans [Member] | Consumer Loans [Member] | Direct [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 0 | 1 |
Acquired Loans [Member] | Consumer Loans [Member] | Direct [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 51 | 1 |
Acquired Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 391 | |
Nonaccrual | 225 | |
Current | 39,256 | |
Recorded total loans | 39,872 | |
Acquired Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 254 | |
Acquired Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 34 | |
Acquired Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 103 | |
Acquired Loans [Member] | Consumer Loans [Member] | Direct [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Recorded total loans | 2,816 | |
Acquired Loans [Member] | Residential Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 667 | 993 |
Nonaccrual | 1,675 | 1,431 |
Current | 161,781 | 168,048 |
Recorded total loans | 164,123 | 170,472 |
Acquired Loans [Member] | Residential Real Estate Mortgages [Member] | 31-60 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 565 | 627 |
Acquired Loans [Member] | Residential Real Estate Mortgages [Member] | 61-90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | 102 | 226 |
Acquired Loans [Member] | Residential Real Estate Mortgages [Member] | Greater Than 90 Days Past Due Accruing [Member] | ||
Financing Receivable, Recorded Investment, Aging [Abstract] | ||
Total past due accruing | $ 0 | $ 140 |
Allowance for Loan Losses and43
Allowance for Loan Losses and Credit Quality of Loans, Impaired Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Allowance for Loan Losses and Credit Quality of Loans [Abstract] | ||
Threshold balance for classified loans to be evaluated individually for impairment | $ 750 | |
Total [Abstract] | ||
Recorded investment balance (book) | 21,082 | $ 21,138 |
Unpaid principal balance (legal) | 28,690 | 28,120 |
Related allowance | 42 | 57 |
Acquired impaired loans specifically evaluated for impairment | 0 | 0 |
Originated Loans [Member] | ||
With an allowance recorded [Abstract] | ||
Recorded investment balance (book) | 20,981 | 21,035 |
Unpaid principal balance (legal) | 28,583 | 28,011 |
Originated Loans [Member] | Commercial Loans [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 5,905 | 5,773 |
Unpaid principal balance (legal) | 9,193 | 8,848 |
With an allowance recorded [Abstract] | ||
Recorded investment balance (book) | 101 | 103 |
Unpaid principal balance (legal) | 107 | 109 |
Total [Abstract] | ||
Related allowance | 42 | 57 |
Originated Loans [Member] | Commercial Loans [Member] | C&I [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 430 | |
Unpaid principal balance (legal) | 696 | |
With an allowance recorded [Abstract] | ||
Recorded investment balance (book) | 27 | |
Unpaid principal balance (legal) | 26 | |
Total [Abstract] | ||
Related allowance | 27 | |
Originated Loans [Member] | Commercial Loans [Member] | CRE [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 4,397 | |
Unpaid principal balance (legal) | 6,362 | |
With an allowance recorded [Abstract] | ||
Recorded investment balance (book) | 74 | |
Unpaid principal balance (legal) | 81 | |
Total [Abstract] | ||
Related allowance | 15 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 0 | |
Unpaid principal balance (legal) | 251 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 2,211 | |
Unpaid principal balance (legal) | 3,979 | |
With an allowance recorded [Abstract] | ||
Recorded investment balance (book) | 76 | |
Unpaid principal balance (legal) | 82 | |
Total [Abstract] | ||
Related allowance | 30 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 452 | |
Unpaid principal balance (legal) | 465 | |
With an allowance recorded [Abstract] | ||
Recorded investment balance (book) | 27 | |
Unpaid principal balance (legal) | 27 | |
Total [Abstract] | ||
Related allowance | 27 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural Real Estate [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 2,250 | |
Unpaid principal balance (legal) | 2,423 | |
Originated Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 1,078 | 860 |
Unpaid principal balance (legal) | 2,135 | 1,730 |
Originated Loans [Member] | Consumer Loans [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 8,305 | 8,432 |
Unpaid principal balance (legal) | 10,293 | 10,383 |
Originated Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 198 | |
Unpaid principal balance (legal) | 216 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 8,107 | |
Unpaid principal balance (legal) | 10,077 | |
Originated Loans [Member] | Consumer Loans [Member] | Indirect [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 131 | |
Unpaid principal balance (legal) | 143 | |
Originated Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 8,027 | |
Unpaid principal balance (legal) | 9,966 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded investment balance (book) | 274 | |
Unpaid principal balance (legal) | 274 | |
Originated Loans [Member] | Residential Real Estate Mortgages [Member] | ||
With an allowance recorded [Abstract] | ||
Recorded investment balance (book) | 6,771 | 6,830 |
Unpaid principal balance (legal) | $ 9,097 | $ 8,780 |
Allowance for Loan Losses and44
Allowance for Loan Losses and Credit Quality of Loans, Average Recorded Investments on Loans Specifically Evaluated for Impairment and Interest Income Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | $ 21,182 | $ 25,672 |
Interest income recognized | 222 | 206 |
Originated Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 21,182 | 25,371 |
Interest income recognized | 222 | 206 |
Originated Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 5,927 | 11,324 |
Interest income recognized | 37 | 57 |
Originated Loans [Member] | Commercial Loans [Member] | C&I [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 467 | |
Interest income recognized | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | CRE [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 4,506 | |
Interest income recognized | 32 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 2,926 | |
Interest income recognized | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 5,995 | |
Interest income recognized | 44 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 173 | |
Interest income recognized | 0 | |
Originated Loans [Member] | Commercial Loans [Member] | Agricultural Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 1,580 | |
Interest income recognized | 11 | |
Originated Loans [Member] | Commercial Loans [Member] | Business Banking [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 954 | 650 |
Interest income recognized | 5 | 2 |
Originated Loans [Member] | Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 8,374 | 8,436 |
Interest income recognized | 112 | 110 |
Originated Loans [Member] | Consumer Loans [Member] | Dealer Finance [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 184 | |
Interest income recognized | 3 | |
Originated Loans [Member] | Consumer Loans [Member] | Direct Lending [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 8,190 | 0 |
Interest income recognized | 109 | 0 |
Originated Loans [Member] | Consumer Loans [Member] | Indirect [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 5 | |
Interest income recognized | 0 | |
Originated Loans [Member] | Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 8,431 | |
Interest income recognized | 110 | |
Originated Loans [Member] | Residential Real Estate Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 6,881 | 5,611 |
Interest income recognized | 73 | 39 |
Acquired Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 0 | 301 |
Interest income recognized | 0 | 0 |
Acquired Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 0 | 301 |
Interest income recognized | 0 | 0 |
Acquired Loans [Member] | Commercial Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average recorded investment | 0 | 301 |
Interest income recognized | $ 0 | $ 0 |
Allowance for Loan Losses and45
Allowance for Loan Losses and Credit Quality of Loans, Credit Quality by Loan Class (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | $ 6,647,124 | $ 6,584,773 |
Consumer Credit Exposure [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,266,054 | 2,234,809 |
Residential Real Estate Mortgage Credit Exposure [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,333,067 | 1,321,695 |
Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 6,269,415 | 6,183,082 |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial, Industrial and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,393,304 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial, Industrial and Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,282,118 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial, Industrial and Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 53,411 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial, Industrial and Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 57,775 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | C&I [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 787,948 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | C&I [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 731,934 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | C&I [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 37,543 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | C&I [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 18,471 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | CRE [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,605,356 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | CRE [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,550,184 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | CRE [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 15,868 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | CRE [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 39,304 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,360,001 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial and Agricultural [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,245,016 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial and Agricultural [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 63,336 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial and Agricultural [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 51,649 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 753,779 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 708,567 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 30,337 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 14,875 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,536,542 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,481,926 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 28,264 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 26,352 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 35,546 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Agricultural [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 31,142 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Agricultural [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,294 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Agricultural [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,110 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Agricultural Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 34,134 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Agricultural Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 23,381 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Agricultural Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,441 | |
Originated Loans [Member] | Commercial Credit Exposure [Member] | Agricultural Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 8,312 | |
Originated Loans [Member] | Business Banking Credit Exposure [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 481,779 | 480,955 |
Originated Loans [Member] | Business Banking Credit Exposure [Member] | Non-classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 468,842 | 468,898 |
Originated Loans [Member] | Business Banking Credit Exposure [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 12,937 | 12,057 |
Originated Loans [Member] | Business Banking Credit Exposure [Member] | Business Banking [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 481,779 | 480,955 |
Originated Loans [Member] | Business Banking Credit Exposure [Member] | Business Banking [Member] | Non-classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 468,842 | 468,898 |
Originated Loans [Member] | Business Banking Credit Exposure [Member] | Business Banking [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 12,937 | 12,057 |
Originated Loans [Member] | Consumer Credit Exposure [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,225,388 | 2,190,903 |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,218,037 | 2,182,114 |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 7,351 | 8,789 |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Dealer Finance [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,240,196 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Dealer Finance [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,237,008 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Dealer Finance [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 3,188 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 513,518 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 510,647 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,871 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Specialty Lending [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 471,674 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Specialty Lending [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 470,382 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Specialty Lending [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,292 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Indirect [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,671,051 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Indirect [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,665,444 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Indirect [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 5,607 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 454,899 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Home Equity [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 451,822 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Home Equity [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 3,077 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 64,953 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 64,848 | |
Originated Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 105 | |
Originated Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,168,944 | 1,151,223 |
Originated Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,163,254 | 1,143,974 |
Originated Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 5,690 | 7,249 |
Originated Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Residential Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,168,944 | 1,151,223 |
Originated Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Residential Real Estate Mortgage [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,163,254 | 1,143,974 |
Originated Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Residential Real Estate Mortgage [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 5,690 | 7,249 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 377,709 | 401,691 |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial, Industrial and Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 130,949 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial, Industrial and Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 126,932 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial, Industrial and Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,553 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial, Industrial and Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,464 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | C&I [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 33,484 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | C&I [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 30,699 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | C&I [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,069 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | C&I [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 716 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | CRE [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 97,465 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | CRE [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 96,233 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | CRE [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 484 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | CRE [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 748 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial and Agricultural [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 146,209 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial and Agricultural [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 141,073 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial and Agricultural [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 923 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Total Commercial and Agricultural [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 4,213 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 39,575 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 37,825 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 425 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,325 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 106,634 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 103,248 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 498 | |
Acquired Loans [Member] | Commercial Credit Exposure [Member] | Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,888 | |
Acquired Loans [Member] | Business Banking Credit Exposure [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 41,971 | 41,104 |
Acquired Loans [Member] | Business Banking Credit Exposure [Member] | Non-classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 39,111 | 38,236 |
Acquired Loans [Member] | Business Banking Credit Exposure [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,860 | 2,868 |
Acquired Loans [Member] | Business Banking Credit Exposure [Member] | Business Banking [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 41,971 | 41,104 |
Acquired Loans [Member] | Business Banking Credit Exposure [Member] | Business Banking [Member] | Non-classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 39,111 | 38,236 |
Acquired Loans [Member] | Business Banking Credit Exposure [Member] | Business Banking [Member] | Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,860 | 2,868 |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 40,666 | 43,906 |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 40,319 | 43,531 |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 347 | 375 |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Dealer Finance [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 602 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Dealer Finance [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 587 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Dealer Finance [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 15 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 40,064 | 2,816 |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 39,732 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 332 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Indirect [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,218 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Indirect [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,195 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Indirect [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 23 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Home Equity [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 39,872 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Home Equity [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 39,544 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Home Equity [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 328 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,816 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 2,792 | |
Acquired Loans [Member] | Consumer Credit Exposure [Member] | Direct [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 24 | |
Acquired Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 164,123 | 170,472 |
Acquired Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 162,448 | 168,901 |
Acquired Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 1,675 | 1,571 |
Acquired Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Residential Real Estate Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 164,123 | 170,472 |
Acquired Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Residential Real Estate Mortgage [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | 162,448 | 168,901 |
Acquired Loans [Member] | Residential Real Estate Mortgage Credit Exposure [Member] | Residential Real Estate Mortgage [Member] | Nonperforming [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Net loans | $ 1,675 | $ 1,571 |
Allowance for Loan Losses and46
Allowance for Loan Losses and Credit Quality of Loans, Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($)Contract | Mar. 31, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 16 | 3 |
Pre-modification outstanding recorded investment | $ 765 | $ 219 |
Post-modification outstanding recorded investment | $ 855 | $ 215 |
Number of contracts | Contract | 23 | 18 |
Recorded Investment | $ 1,574 | $ 980 |
Commercial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 3 | |
Pre-modification outstanding recorded investment | $ 319 | |
Post-modification outstanding recorded investment | $ 410 | |
Number of contracts | Contract | 1 | 1 |
Recorded Investment | $ 200 | $ 145 |
Commercial Loans [Member] | Commercial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 0 | 1 |
Recorded Investment | $ 0 | $ 145 |
Commercial Loans [Member] | Business Banking [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 3 | |
Pre-modification outstanding recorded investment | $ 319 | |
Post-modification outstanding recorded investment | $ 410 | |
Number of contracts | Contract | 1 | 0 |
Recorded Investment | $ 200 | $ 0 |
Consumer Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 8 | 2 |
Pre-modification outstanding recorded investment | $ 123 | $ 78 |
Post-modification outstanding recorded investment | $ 122 | $ 77 |
Number of contracts | Contract | 14 | 13 |
Recorded Investment | $ 870 | $ 668 |
Consumer Loans [Member] | Indirect [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 0 | 1 |
Recorded Investment | $ 0 | $ 5 |
Consumer Loans [Member] | Dealer Finance [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 6 | |
Pre-modification outstanding recorded investment | $ 82 | |
Post-modification outstanding recorded investment | $ 81 | |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 2 | |
Pre-modification outstanding recorded investment | $ 78 | |
Post-modification outstanding recorded investment | $ 77 | |
Number of contracts | Contract | 0 | 12 |
Recorded Investment | $ 0 | $ 663 |
Consumer Loans [Member] | Direct [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 2 | |
Pre-modification outstanding recorded investment | $ 41 | |
Post-modification outstanding recorded investment | $ 41 | |
Number of contracts | Contract | 14 | 0 |
Recorded Investment | $ 870 | $ 0 |
Residential Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of contracts | Contract | 5 | 1 |
Pre-modification outstanding recorded investment | $ 323 | $ 141 |
Post-modification outstanding recorded investment | $ 323 | $ 138 |
Number of contracts | Contract | 8 | 4 |
Recorded Investment | $ 504 | $ 167 |
Defined Benefit Post-retireme47
Defined Benefit Post-retirement Plans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Defined Benefit Post-retirement Plans [Abstract] | ||
Employer contributions | $ 0 | $ 0 |
Pension Benefits [Member] | ||
Components of net periodic (benefit) cost [Abstract] | ||
Service cost | 420 | 402 |
Interest cost | 920 | 1,042 |
Expected return on plan assets | (2,123) | (1,985) |
Net amortization | 251 | 415 |
Total net periodic (benefit) cost | (532) | (126) |
Other Benefits [Member] | ||
Components of net periodic (benefit) cost [Abstract] | ||
Service cost | 3 | 3 |
Interest cost | 82 | 86 |
Expected return on plan assets | 0 | 0 |
Net amortization | 44 | 20 |
Total net periodic (benefit) cost | $ 129 | $ 109 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Basic EPS [Abstract] | ||
Weighted average common shares outstanding (in shares) | 43,663,000 | 43,513,000 |
Net income available to common stockholders | $ 25,986 | $ 20,279 |
Basic EPS (in dollars per share) | $ 0.60 | $ 0.47 |
Diluted EPS [Abstract] | ||
Weighted average common shares outstanding (in shares) | 43,663,000 | 43,513,000 |
Dilutive effect of common stock options and restricted stock (in shares) | 312,000 | 370,000 |
Weighted average common shares and common share equivalents (in shares) | 43,975,000 | 43,883,000 |
Net income available to common stockholders | $ 25,986 | $ 20,279 |
Diluted EPS (in dollars per share) | $ 0.59 | $ 0.46 |
Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Stock options excluded from calculation of diluted EPS (in shares) | 1,500 | 783 |
Reclassification Adjustments 49
Reclassification Adjustments Out of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest income | $ 73,486 | $ 68,491 |
Other noninterest income | 3,892 | 2,938 |
Other noninterest expense | 4,415 | 5,175 |
Interest expense | 7,274 | 5,945 |
Income tax (expense) | (7,009) | (8,301) |
Net income | 25,986 | 20,279 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Total reclassifications, net of tax | 93 | 1,278 |
AOCI Attributable to Parent [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Net income | 0 | 0 |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Income tax (expense) | 43 | (623) |
Net income | (128) | 1,009 |
Amortization of Unrealized Gains Related to Securities Transfer [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest income | 188 | 238 |
Impairment Write-Down of an Equity Security [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Other noninterest income | 0 | 1,312 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Interest expense | (359) | 82 |
Accumulated Defined Benefit Plans Adjustment [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Income tax (expense) | (74) | (166) |
Net income | 221 | 269 |
Amortization of Net Losses [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Other noninterest expense | 273 | 435 |
Amortization of Prior Service Costs [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Other noninterest expense | $ 22 | $ 0 |
Fair Value Measurements and F50
Fair Value Measurements and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Transfers from Level 1 to Level 2 | $ 800 | $ 0 |
Transfers from Level 2 to Level 1 | 4,000 | 0 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
AFS securities [Abstract] | ||
AFS Securities | 1,265,912 | 1,255,925 |
Equity securities | 21,992 | 0 |
Trading securities | 0 | 11,467 |
Liabilities [Abstract] | ||
Collateral dependent impaired loans | 100 | 100 |
Collateral dependent impaired loans, specific reserves | $ 100 | 100 |
Minimum [Member] | ||
Liabilities [Abstract] | ||
Liquidation expense ratio on impaired collateral | 10.00% | |
Maximum [Member] | ||
Liabilities [Abstract] | ||
Liquidation expense ratio on impaired collateral | 35.00% | |
Federal Agency [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | $ 138,459 | 108,899 |
State & Municipal [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 39,386 | 41,956 |
Equity Securities [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 14,149 | |
Recurring Basis [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 1,265,912 | 1,255,925 |
Equity securities | 21,992 | |
Trading securities | 11,467 | |
Derivatives | 13,414 | 3,732 |
Total | 1,301,318 | 1,271,124 |
Liabilities [Abstract] | ||
Derivatives | 9,514 | 324 |
Total | 9,514 | 324 |
Recurring Basis [Member] | Level 1 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 5,845 |
Equity securities | 17,010 | |
Trading securities | 11,467 | |
Derivatives | 0 | 0 |
Total | 17,010 | 17,312 |
Liabilities [Abstract] | ||
Derivatives | 0 | 0 |
Total | 0 | 0 |
Recurring Basis [Member] | Level 2 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 1,265,912 | 1,250,080 |
Equity securities | 4,982 | |
Trading securities | 0 | |
Derivatives | 13,414 | 3,732 |
Total | 1,284,308 | 1,253,812 |
Liabilities [Abstract] | ||
Derivatives | 9,514 | 324 |
Total | 9,514 | 324 |
Recurring Basis [Member] | Level 3 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 0 |
Equity securities | 0 | |
Trading securities | 0 | |
Derivatives | 0 | 0 |
Total | 0 | 0 |
Liabilities [Abstract] | ||
Derivatives | 0 | 0 |
Total | 0 | 0 |
Recurring Basis [Member] | Federal Agency [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 138,459 | 108,899 |
Recurring Basis [Member] | Federal Agency [Member] | Level 1 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 0 |
Recurring Basis [Member] | Federal Agency [Member] | Level 2 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 138,459 | 108,899 |
Recurring Basis [Member] | Federal Agency [Member] | Level 3 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 0 |
Recurring Basis [Member] | State & Municipal [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 39,386 | 41,956 |
Recurring Basis [Member] | State & Municipal [Member] | Level 1 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 0 |
Recurring Basis [Member] | State & Municipal [Member] | Level 2 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 39,386 | 41,956 |
Recurring Basis [Member] | State & Municipal [Member] | Level 3 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 0 |
Recurring Basis [Member] | Mortgage-Backed [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 544,031 | 554,927 |
Recurring Basis [Member] | Mortgage-Backed [Member] | Level 1 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 0 |
Recurring Basis [Member] | Mortgage-Backed [Member] | Level 2 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 544,031 | 554,927 |
Recurring Basis [Member] | Mortgage-Backed [Member] | Level 3 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 0 |
Recurring Basis [Member] | Collateralized Mortgage Obligations [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 544,036 | 535,994 |
Recurring Basis [Member] | Collateralized Mortgage Obligations [Member] | Level 1 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 0 | 0 |
Recurring Basis [Member] | Collateralized Mortgage Obligations [Member] | Level 2 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 544,036 | 535,994 |
Recurring Basis [Member] | Collateralized Mortgage Obligations [Member] | Level 3 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | $ 0 | 0 |
Recurring Basis [Member] | Equity Securities [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 14,149 | |
Recurring Basis [Member] | Equity Securities [Member] | Level 1 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 5,845 | |
Recurring Basis [Member] | Equity Securities [Member] | Level 2 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | 8,304 | |
Recurring Basis [Member] | Equity Securities [Member] | Level 3 [Member] | ||
AFS securities [Abstract] | ||
AFS Securities | $ 0 |
Fair Value Measurements and F51
Fair Value Measurements and Fair Value of Financial Instruments, Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Derivatives, Fair Value [Line Items] | |||
Reclassification of net unrealized gain on cash flow hedges from AOCI to interest expense | $ 269 | $ (50) | |
Financial assets [Abstract] | |||
HTM securities | 477,409 | $ 481,871 | |
Financial liabilities [Abstract] | |||
Time deposits | 840,425 | 806,766 | |
Long-term debt | 88,824 | 88,869 | |
Junior subordinated debt | 101,196 | 101,196 | |
Carrying Amount [Member] | Level 2 [Member] | |||
Financial assets [Abstract] | |||
HTM securities | 487,126 | 484,073 | |
Financial liabilities [Abstract] | |||
Time deposits | 840,425 | 806,766 | |
Long-term debt | 88,824 | 88,869 | |
Junior subordinated debt | 101,196 | 101,196 | |
Carrying Amount [Member] | Level 3 [Member] | |||
Financial assets [Abstract] | |||
Net loans | 6,576,924 | 6,515,273 | |
Estimated Fair Value [Member] | Level 2 [Member] | |||
Financial assets [Abstract] | |||
HTM securities | 477,409 | 481,871 | |
Financial liabilities [Abstract] | |||
Time deposits | 833,181 | 801,294 | |
Long-term debt | 87,538 | 88,346 | |
Junior subordinated debt | 101,986 | 104,593 | |
Estimated Fair Value [Member] | Level 3 [Member] | |||
Financial assets [Abstract] | |||
Net loans | 6,612,392 | 6,651,931 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Other Assets [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative asset, notional amount | 551,800 | 481,200 | |
Fair value of derivative asset | 9,200 | 200 | |
Not Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Other Liabilities [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative liability, notional amount | 551,800 | 481,200 | |
Fair value of derivative liability | 9,200 | 200 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Notional amount | 250,000 | 250,000 | |
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Interest Expense [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Reclassification of net unrealized gain on cash flow hedges from AOCI to interest expense | 400 | $ 100 | |
Amount expected to be reclassified as a reduction to interest expense for CF hedges | 2,600 | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member] | Other Assets [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Fair value of derivative asset | $ 4,200 | $ 3,500 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Commitment to Extend Credits and Unused Lines of Credit [Member] | ||
Guarantor Obligations [Line Items] | ||
Commitments - maximum potential obligation | $ 1,600 | $ 1,600 |
Standby Letters of Credit [Member] | ||
Guarantor Obligations [Line Items] | ||
Obligation instrument term | 5 years | |
Commitments - maximum potential obligation | $ 40.8 | $ 41.1 |
Revenue from Contracts with C53
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Noninterest Income [Abstract] | ||
Total noninterest income in-scope of ASC 606 | $ 29,858 | $ 27,339 |
Total noninterest income out-of-scope of ASC 606 | 1,419 | 1,411 |
Total noninterest income | 31,277 | 28,750 |
Insurance and Other Financial Services Revenue [Member] | ||
Noninterest Income [Abstract] | ||
Total noninterest income in-scope of ASC 606 | 6,504 | 6,770 |
Service Charges on Deposit Accounts [Member] | ||
Noninterest Income [Abstract] | ||
Total noninterest income in-scope of ASC 606 | 3,972 | 3,977 |
ATM and Debit Card Fees [Member] | ||
Noninterest Income [Abstract] | ||
Total noninterest income in-scope of ASC 606 | 5,273 | 4,950 |
Retirement Plan Administration Fees [Member] | ||
Noninterest Income [Abstract] | ||
Total noninterest income in-scope of ASC 606 | 5,339 | 4,172 |
Trust [Member] | ||
Noninterest Income [Abstract] | ||
Total noninterest income in-scope of ASC 606 | 4,878 | 4,532 |
Other [Member] | ||
Noninterest Income [Abstract] | ||
Total noninterest income in-scope of ASC 606 | $ 3,892 | $ 2,938 |
Recent Accounting Pronounceme54
Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Federal corporate tax rate | 21.00% | 35.00% |
Reclassification upon ASU implementation | $ 1,500 | |
ASU 2018-02 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Reclassification upon ASU implementation | 0 | |
AOCI [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Reclassification upon ASU implementation | (2,600) | |
Retained Earnings [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Reclassification upon ASU implementation | 1,500 | |
Other Assets [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Reclassification upon ASU implementation | 400 | |
AOCI [Member] | ASU 2018-02 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Reclassification upon ASU implementation | (5,575) | |
Retained Earnings [Member] | ASU 2018-02 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Reclassification upon ASU implementation | $ 5,575 |