Cover Page
Cover Page - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Feb. 14, 2020 | Jun. 30, 2019 | |
Entity Central Index Key | 0000798941 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Entity File Number | 001-16715 | ||
Entity Registrant Name | FIRST CITIZENS BANCSHARES INC /DE/ | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 56-1528994 | ||
Entity Address, Address Line One | 4300 Six Forks Road | ||
Entity Address, City or Town | Raleigh | ||
Entity Address, State or Province | NC | ||
Entity Address, Postal Zip Code | 27609 | ||
City Area Code | (919) | ||
Local Phone Number | 716-7000 | ||
Title of 12(b) Security | Class A Common Stock, Par Value $1 | ||
Trading Symbol | FCNCA | ||
Security Exchange Name | NASDAQ | ||
Title of 12(g) Security | Class B Common Stock, Par Value $1 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 2,987,147,364 | ||
Class A Common Stock | |||
Entity Common Stock, Shares Outstanding | 9,503,320 | ||
Class B Common Stock | |||
Entity Common Stock, Shares Outstanding | 1,005,185 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 376,719 | $ 327,440 |
Overnight investments | 1,107,844 | 797,406 |
Investment in marketable equity securities (cost of $59,262 at December 31, 2019 and $73,809 at December 31, 2018) | 82,333 | 92,599 |
Investment securities available for sale | 7,059,674 | 4,557,110 |
Investment securities held to maturity | 30,996 | 2,184,653 |
Loans held for sale | 67,869 | 45,505 |
Loans | 28,881,496 | 25,523,276 |
Less allowance for loan and lease losses | (225,141) | (223,712) |
Net Loans and Leases | 28,656,355 | 25,299,564 |
Premises and equipment | 1,244,396 | 1,204,179 |
Other Real Estate | 46,591 | 48,030 |
Income earned not collected | 123,154 | 109,903 |
Goodwill | 349,398 | 236,347 |
Intangible Assets, Net (Excluding Goodwill) | 68,276 | 72,298 |
Other assets | 610,891 | 433,595 |
Total assets | 39,824,496 | 35,408,629 |
Deposits [Abstract] | ||
Noninterest-bearing | 12,926,796 | 11,882,670 |
Interest-bearing | 21,504,440 | 18,789,790 |
Total deposits | 34,431,236 | 30,672,460 |
Securities Sold under Agreements to Repurchase | 442,956 | 543,936 |
Federal Home Loan Bank Advances | 572,185 | 193,556 |
Subordinated Debt | 163,412 | 140,741 |
Other Borrowings | 148,318 | 13,921 |
FDIC shared-loss payable | 112,395 | 105,618 |
Other liabilities | 367,810 | 249,443 |
Total liabilities | 36,238,312 | 31,919,675 |
Shareholders' Equity | ||
Preferred stock - $0.01 par value (10,000,000 shares authorized; no shares issued and outstanding at December 31, 2019 and December 31, 2018) | 0 | 0 |
Surplus | 44,081 | 493,962 |
Retained earnings | 3,658,197 | 3,218,551 |
Accumulated other comprehensive loss | (126,723) | (235,187) |
Total shareholders' equity | 3,586,184 | 3,488,954 |
Total liabilities and shareholders' equity | 39,824,496 | 35,408,629 |
Class A Common Stock | ||
Shareholders' Equity | ||
Common stock | 9,624 | 10,623 |
Class B Common Stock | ||
Shareholders' Equity | ||
Common stock | $ 1,005 | $ 1,005 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Investment securities held to maturity, fair value | $ 30,996 | $ 2,201,502 |
Total investment securities available for sale, cost | 7,052,152 | 4,607,117 |
Investments in ME securities, cost | $ 59,262 | $ 73,809 |
Class A Common Stock | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shared authorized | 16,000,000 | 16,000,000 |
Common stock, shares issued | 9,624,310 | 10,623,220 |
Common stock, shares outstanding | 9,624,310 | 10,623,220 |
Class B Common Stock | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shared authorized | 2,000,000 | 2,000,000 |
Common stock, shares issued | 1,005,185 | 1,005,185 |
Common stock, shares outstanding | 1,005,185 | 1,005,185 |
Mortgage Backed Securities | ||
Investment securities held to maturity, fair value | $ 30,996 | $ 2,201,502 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest income | |||
Loans and leases | $ 1,217,306 | $ 1,073,051 | $ 955,637 |
Investment securities interest and dividend income | 160,460 | 150,709 | 121,207 |
Overnight investments | 26,245 | 21,997 | 26,846 |
Total interest income | 1,404,011 | 1,245,757 | 1,103,690 |
Interest expense | |||
Deposits | 76,254 | 22,483 | 16,196 |
Securities sold under customer repurchase agreements | 1,995 | 1,594 | 1,767 |
Federal Home Loan Bank borrowings | 5,472 | 5,801 | 19,915 |
Subordinated debentures | 7,099 | 6,277 | 5,213 |
Other borrowings | 1,822 | 702 | 703 |
Total interest expense | 92,642 | 36,857 | 43,794 |
Net interest income | 1,311,369 | 1,208,900 | 1,059,896 |
Provision for loan and lease losses | 31,441 | 28,468 | 25,692 |
Net interest income after provision for loan and lease losses | 1,279,928 | 1,180,432 | 1,034,204 |
Noninterest income | |||
Realized gains on investment securities available for sale, net | 21,126 | 16,433 | 23,251 |
Gain on acquisitions | 20,625 | (7,610) | 0 |
Realized gains on investment securities available for sale, net | 7,115 | 351 | 4,293 |
Gain on extinguishment of debt | 0 | 26,553 | 12,483 |
Gain on acquisitions | 0 | 0 | 134,745 |
Other | 18,431 | 19,700 | 29,081 |
Total noninterest income | 415,861 | 400,149 | 521,963 |
Noninterest expense | |||
Salaries and wages | 551,112 | 527,691 | 490,610 |
Employee benefits | 120,501 | 118,203 | 105,975 |
Occupancy expense | 111,179 | 109,169 | 104,690 |
Equipment expense | 112,290 | 102,909 | 97,478 |
Processing fees paid to third parties | 29,552 | 30,017 | 25,673 |
FDIC insurance expense | 10,664 | 18,890 | 22,191 |
Collection and foreclosure-related expenses | 11,994 | 16,567 | 14,407 |
Merger-related expenses | 17,166 | 6,462 | 9,015 |
Other | 139,283 | 147,063 | 142,430 |
Total noninterest expense | 1,103,741 | 1,076,971 | 1,012,469 |
Income before income taxes | 592,048 | 503,610 | 543,698 |
Income taxes | 134,677 | 103,297 | 219,946 |
Net income | $ 457,371 | $ 400,313 | $ 323,752 |
Average shares outstanding (in shares) | 11,141,069 | 11,938,439 | 12,010,405 |
Net income per share | $ 41.05 | $ 33.53 | $ 29.96 |
Cash dividends (in dollars per share) | $ 1.60 | $ 1.45 | $ 1.25 |
Service charges on deposit accounts | |||
Noninterest income | |||
Revenue from contracts with customers | $ 105,191 | $ 105,486 | $ 101,201 |
Wealth management services | |||
Noninterest income | |||
Revenue from contracts with customers | 99,241 | 97,966 | 86,719 |
Cardholder services, net | |||
Noninterest income | |||
Revenue from contracts with customers | 69,078 | 65,478 | 57,583 |
Other service charges and fees | |||
Noninterest income | |||
Revenue from contracts with customers | 31,644 | 30,606 | 28,321 |
Mortgage income | |||
Noninterest income | |||
Revenue from contracts with customers | 24,304 | 24,504 | 22,678 |
Insurance commissions | |||
Noninterest income | |||
Revenue from contracts with customers | 12,810 | 12,702 | 12,465 |
ATM income | |||
Noninterest income | |||
Revenue from contracts with customers | $ 6,296 | $ 7,980 | $ 9,143 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 457,371 | $ 400,313 | $ 323,752 |
Unrealized gains on securities available for sale: | |||
Unrealized gains on securities available for sale arising during the period | 64,644 | 29,170 | 28,166 |
Tax effect | (14,868) | (6,709) | (10,531) |
Reclassification adjustment for realized gains on securities available for sale included in income before income taxes | (7,115) | (351) | (4,293) |
Tax effect | 1,636 | 81 | 1,588 |
Unrealized gains on securities available for sale arising during the period, net of tax | 44,297 | 22,191 | 14,930 |
Unrealized losses on securities available for sale transferred to held to maturity [Abstract] | |||
Unrealized losses on securities available for sale transferred from (to) held to maturity | 72,512 | (109,507) | 0 |
Tax effect | (16,678) | 25,186 | 0 |
Reclassification adjustment for accretion of unrealized losses on securities available for sale transferred to held to maturity | 19,889 | 17,106 | 0 |
Tax effect | (4,574) | (3,934) | 0 |
Total change in unrealized losses on securities available for sale transferred from (to) held to maturity, net of tax | 71,149 | (71,149) | 0 |
Change in fair value of cash flow hedges: | |||
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax | 20,049 | 32,012 | 12,945 |
Defined benefit pension items: | |||
Actuarial losses arising during the period | (20,049) | (32,012) | (12,945) |
Tax effect | 4,611 | 7,363 | 4,789 |
Amortization of actuarial losses and prior service cost | 10,981 | 13,981 | 9,720 |
Tax effect | (2,525) | (3,216) | (3,596) |
Total change from defined benefit plans, net of tax | 6,982 | 13,884 | 2,032 |
Net current period other comprehensive income (loss) | 108,464 | (62,842) | 12,898 |
Total comprehensive income | $ 565,835 | $ 337,471 | $ 336,650 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Class A Common Stock | Class B Common Stock | Common StockClass A Common Stock | Common StockClass B Common Stock | Surplus | SurplusClass A Common Stock | Retained Earnings | Retained EarningsClass A Common Stock | Retained EarningsClass B Common Stock | Accumulated Other Comprehensive Loss |
Beginning balance at Dec. 31, 2016 | $ 3,012,427 | $ 11,005 | $ 1,005 | $ 658,918 | $ 2,476,691 | $ (135,192) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income | 323,752 | 323,752 | |||||||||
Other comprehensive income (loss), net of tax | 12,898 | 12,898 | |||||||||
Cash dividends | (1,256) | $ (13,757) | (1,256) | $ (13,757) | |||||||
Ending balance at Dec. 31, 2017 | 3,334,064 | 11,005 | 1,005 | 658,918 | 2,785,430 | (122,294) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income | 400,313 | 400,313 | |||||||||
Other comprehensive income (loss), net of tax | (62,842) | (62,842) | |||||||||
Stock repurchases during period | 165,300 | 165,338 | 382 | $ 164,956 | |||||||
Cash dividends | (15,785) | $ (1,458) | 0 | 0 | 0 | (15,785) | $ (1,458) | 0 | |||
Ending balance at Dec. 31, 2018 | 3,488,954 | 10,623 | 1,005 | 493,962 | 3,218,551 | (235,187) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net income | 457,371 | 457,371 | 0 | ||||||||
Other comprehensive income (loss), net of tax | 108,464 | 108,464 | |||||||||
Stock repurchases during period | 450,800 | 450,880 | 999 | $ 449,881 | |||||||
Cash dividends | $ (16,117) | $ (1,608) | $ (16,117) | $ (1,608) | |||||||
Ending balance at Dec. 31, 2019 | $ 3,586,184 | $ 9,624 | $ 1,005 | $ 44,081 | $ 3,658,197 | $ (126,723) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | |||
Cash dividends (in dollars per share) | $ 1.60 | $ 1.45 | $ 1.25 |
Class A Common Stock | |||
Statement of Stockholders' Equity [Abstract] | |||
Stock repurchases (shares) | 998,910 | 382,000 | |
Cash dividends (in dollars per share) | $ 1.60 | $ 1.45 | 1.25 |
Class B Common Stock | |||
Statement of Stockholders' Equity [Abstract] | |||
Cash dividends (in dollars per share) | $ 1.60 | $ 1.45 | $ 1.25 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
OPERATING ACTIVITIES | |||
Net income | $ 457,371 | $ 400,313 | $ 323,752 |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Provision for loan and lease losses | 31,441 | 28,468 | 25,692 |
Deferred tax expense (benefit) | 54,598 | (13,377) | 125,838 |
Change in current taxes payable | (19,564) | 23,353 | (10,616) |
Depreciation | 103,828 | 96,781 | 90,804 |
Change in accrued interest payable | 14,412 | (240) | 155 |
Change in income earned not collected | (4,151) | (10,785) | (8,899) |
Gain on acquisitions | 0 | 0 | (134,745) |
Realized gains on investment securities available for sale, net | (7,115) | (351) | (4,293) |
Marketable equity securities (gains) losses, net | (20,625) | 7,610 | 0 |
Gain on extinguishment of debt | 0 | (26,553) | (919) |
Origination of loans held for sale | (736,015) | (593,307) | (622,503) |
Proceeds from sale of loans held for sale | 731,803 | 608,549 | 660,808 |
Gain on sale of loans | (14,884) | (11,210) | (14,843) |
Gain (Loss) on Sale of Loans and Leases | (299) | 0 | (1,007) |
Loss on sale of other real estate | 2,664 | 4,390 | 4,460 |
Gain (Loss) on Disposition of Property Plant Equipment | 4,115 | 2,452 | (524) |
Net amortization of premiums and discounts | (34,040) | (36,567) | (40,028) |
Amortization of intangible assets | 23,861 | 23,648 | 22,842 |
FDIC payable for loss share agreements | 6,777 | 4,276 | 4,334 |
Net change in other liabilities | (5,927) | (5,258) | (7,178) |
Net change in other assets | (28,097) | (3,961) | (31,933) |
Net change in other liabilities | (19,584) | (40,895) | (25,939) |
Net cash provided by operating activities | 540,569 | 457,336 | 355,258 |
INVESTING ACTIVITIES | |||
Net change in loans outstanding | (1,282,880) | (1,023,885) | (1,213,686) |
Payments to Acquire Available-for-sale Securities | (4,705,038) | (1,451,287) | (3,648,312) |
Purchases of investment securities held to maturity | (223,598) | (97,827) | 0 |
Purchases of marketable equity securities | (26,166) | (2,818) | 0 |
Proceeds from maturities of investment securities held to maturity | 341,077 | 296,632 | 22 |
Proceeds from maturities of investment securities available for sale | 2,345,512 | 1,664,730 | 1,842,563 |
Proceeds from Sale of Available-for-sale Securities | 2,308,856 | 360,218 | 1,345,746 |
Proceeds from sales of marketable equity securities | 56,749 | 9,528 | 0 |
Net change in overnight investments | (65,181) | 601,979 | 586,279 |
Net Payment to the FDIC for Termination of Loss Share Agreements | (292) | (3,567) | (7,725) |
Proceeds from Sale of Other Real Estate Held-for-investment | 25,918 | 28,128 | 40,709 |
Proceeds from Sale of Property, Plant, and Equipment | 132 | 1,721 | 3,061 |
Proceeds from sale of portfolio loans | 24,247 | 9,591 | 162,649 |
Additions to premises and equipment | (121,077) | (140,444) | (84,798) |
Business acquisitions, net of cash acquired | (236,728) | (155,126) | 304,820 |
Net cash (used) provided by investing activities | (1,558,469) | 97,573 | (668,672) |
FINANCING ACTIVITIES | |||
Net change in time deposits | 284,611 | 33,023 | (538,250) |
Net change in demand and other interest-bearing deposits | 1,154,815 | 457,196 | 539,120 |
Net change in short-term borrowings | (27,703) | (246,517) | (44,680) |
Proceeds from (Repayments of) Long-term Debt and Capital Securities | (73,284) | (752,447) | (6,955) |
Origination of long-term obligations | 200,000 | 125,000 | 175,000 |
Repurchase of common stock | (453,123) | (163,095) | 0 |
Cash dividends paid | (18,137) | (16,779) | (14,412) |
Net cash provided (used) by financing activities | 1,067,179 | (563,619) | 109,823 |
Change in cash and due from banks | 49,279 | (8,710) | (203,591) |
Cash and due from banks at beginning of period | 327,440 | 336,150 | 539,741 |
Cash and due from banks at end of period | 376,719 | 327,440 | 336,150 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | |||
Interest | 78,230 | 37,097 | 43,639 |
Income taxes | 83,038 | 73,806 | 88,565 |
Premises and equipment acquired through capital leases and other financing arrangements | 14,639 | 23,375 | 34,980 |
Dividends declared but not paid | 4,256 | 4,668 | 4,204 |
Unsettled maturities of investment securities | 0 | 0 | 100,000 |
Unsettled sales of investment securities | 0 | 0 | 208,464 |
Net reclassification of portfolio loans to (from) loans held for sale | 22,034 | (2,433) | 161,719 |
Transfer of investment securities available for sale (from) to held to maturity | (2,080,617) | ||
Transfer of investment securities available for sale (from) to held to maturity | 2,485,761 | 0 | |
Transfer of investment securities available for sale to marketable equity securities | 0 | 107,578 | 0 |
Transfers of premises and equipment to other real estate | 7,045 | 1,622 | 0 |
Transfers of premises and equipment to other real estate | 0 | 12,196 | 5,327 |
Initial recognition of operating lease liabilities | 0 | $ (2,243) | $ 0 |
Initial recognition of operating lease assets | 70,652 | ||
Initial recognition of operating lease liabilities | $ 71,793 |
Accounting Policies and Basis o
Accounting Policies and Basis of Presentation | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Accounting Policies and Basis of Presentation | ACCOUNTING POLICIES AND BASIS OF PRESENTATION Nature of Operations First Citizens BancShares, Inc. (“we,” “us,” “our,” “BancShares,”) is a financial holding company organized under the laws of Delaware and conducts operations through its banking subsidiary, First-Citizens Bank & Trust Company (“FCB,” or “the Bank”), which is headquartered in Raleigh, North Carolina. BancShares and its subsidiaries operate 574 branches in 19 states predominantly located in the Southeast, Midwest and Southwest regions of the United States. BancShares seeks to meet the financial needs of individuals and commercial entities in its market areas through a wide range of retail and commercial banking services. Loan services include various types of commercial, business and consumer lending. Deposit services include checking, savings, money market and time deposit accounts. First Citizens Wealth Management provides holistic, goals-based advisory services encompassing a broad range of client deliverables. These deliverables include wealth planning, discretionary investment advisory services, insurance, brokerage, defined benefit and defined contribution services, private banking, trust, fiduciary, philanthropy and special asset services. Principles of Consolidation and Basis of Presentation The accounting and reporting policies of BancShares and its subsidiaries are in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. The consolidated financial statements of BancShares include the accounts of BancShares and its subsidiaries, certain partnership interests and variable interest entities. All significant intercompany accounts and transactions are eliminated upon consolidation. BancShares operates with centralized management and combined reporting; thus, BancShares operates as one consolidated reportable segment. Variable interest entities (“VIE”) are legal entities that either do not have sufficient equity to finance their activities without the support from other parties or whose equity investors lack a controlling financial interest. FCB has investments in certain partnerships and limited liability entities that have been evaluated and determined to be VIEs. Consolidation of a VIE is appropriate if a reporting entity holds a controlling financial interest in the VIE and is the primary beneficiary. FCB is not the primary beneficiary and does not hold a controlling interest in the VIEs as it does not have the power to direct the activities that most significantly impact the VIEs economic performance. As such, assets and liabilities of these entities are not consolidated into the financial statements of BancShares. The recorded investment in these entities is reported within other assets. Reclassifications In certain instances, amounts reported in prior years’ consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported shareholders’ equity or net income. During 2019, BancShares identified items in the prior period related to unsettled investment activity that had been reported as cash flows from operating activities and should have been presented as investing activities during 2018. BancShares corrected the previously presented cash flows for this activity and in doing so, decreased net cash flows from operating activities with an offsetting increase in net cash flows from investing activities. BancShares has evaluated the effect of the incorrect presentation, both qualitatively and quantitatively, and concluded that it was immaterial. Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions impacting the amounts reported. Actual results could differ from those estimates. The estimates BancShares considers significant are the allowance for loan and lease losses, fair value measurements, and income taxes. Business Combinations BancShares accounts for all business combinations using the acquisition method of accounting. Under this method of accounting, acquired assets and assumed liabilities are included with the acquirer’s accounts as of the date of acquisition, with any excess of purchase price over the fair value of the net assets acquired recognized as either finite lived intangibles or capitalized as goodwill. In addition, acquisition related costs and restructuring costs are recognized as period expenses as incurred. See Note B , Business Combinations, for additional information. Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks, interest-bearing deposits with banks and federal funds sold. Cash and cash equivalents have initial maturities of three months or less. The carrying value of cash and cash equivalents approximates its fair value due to its short-term nature. Debt Securities BancShares classifies debt securities as held to maturity or available for sale. Debt securities are classified as held to maturity when BancShares has the intent and ability to hold the securities to maturity and are reported at amortized cost. Other debt securities are classified as available for sale and reported at estimated fair value, with unrealized gains and losses, net of income taxes, reported in Accumulated Other Comprehensive Income (“AOCI”). Amortization of premiums and accretion of discounts for debt securities are included in interest income. Realized gains and losses from the sale of debt securities are determined by specific identification on a trade date basis and are included in noninterest income. BancShares evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (“OTTI”) at least quarterly. BancShares considers such factors as the length of time and the extent to which the market value has been below amortized cost, long-term expectations and recent experience regarding principal and interest payments, BancShares ’ intent to sell, and whether it is more likely than not that it would be required to sell those securities before the anticipated recovery of the amortized cost. In situations where BancShares does not intend to sell the security and it is more likely than not BancShares will not be required to sell the security prior to recovery the credit component of an OTTI loss is recognized in earnings and the non-credit component is recognized in AOCI. Equity Securities Equity securities are recorded on a trade date basis and measured at fair value. Realized and unrealized gains and losses are determined by specific identification and are included in noninterest income. Non-marketable equity securities are securities with no readily determinable fair values and are measured at cost. BancShares evaluates its non-marketable equity securities for impairment and recoverability of the recorded investment by considering positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience. Impairment is assessed at each reporting period and if identified, is recognized in noninterest expense. Non-marketable equity securities were $12.5 million and $2.5 million at December 31, 2019 and 2018 , respectively, and are included in other assets. Other Securities Membership in the Federal Home Loan Bank (“FHLB”) network requires ownership of FHLB restricted stock. This stock is restricted as it may only be sold to the FHLB and all sales must be at par. Accordingly, the FHLB restricted stock is carried at cost, less any applicable impairment charges and is recorded within other assets. FHLB restricted stock was $43.0 million and $25.3 million at December 31, 2019 and 2018 , respectively. Investments in Qualified Affordable Housing Projects BancShares and FCB have investments in qualified affordable housing projects primarily for the purposes of fulfilling Community Reinvestment Act requirements and obtaining tax credits. These investments are accounted for using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other tax benefits received, and the net investment performance is recognized in the income statement as a component of income tax expense. All of the investments held in qualified affordable housing projects qualify for the proportional amortization method and totaled $167.8 million and $147.3 million at December 31, 2019 and 2018 , respectively, and are included in other assets. Loans Held For Sale BancShares elected to apply the fair value option for new originations of prime residential mortgage loans to be sold. Gains and losses on sales of mortgage loans are recognized within mortgage income. Loans and Leases BancShares’ accounting methods for loans and leases depends on whether they are originated or purchased, and if purchased, whether or not the loans reflect credit deterioration at the date of acquisition. Non-Purchased Credit Impaired (“Non-PCI”) Loans Non-PCI loans consist of loans originated by BancShares or loans purchased from other institutions that do not reflect credit deterioration at acquisition. Originated loans for which management has the intent and ability to hold for the foreseeable future are classified as held for investment and carried at the principal amount outstanding net of any unearned income, charge-offs and unamortized fees and costs. Nonrefundable fees collected and certain direct costs incurred related to loan originations are deferred and recorded as an adjustment to loans outstanding. The net amount of the nonrefundable fees and costs is amortized to interest income over the contractual lives using methods that approximate a constant yield. Purchased loans which do not reflect credit deterioration at acquisition are classified as non-PCI loans. These loans are recorded at fair value at the date of acquisition. The difference between the fair value and the unpaid principal balance at the acquisition date is amortized or accreted to interest income over the contractual life of the loan using the effective interest method. Purchased Credit Impaired (“PCI”) Loans Purchased loans which reflect credit deterioration since origination, such that it is probable at acquisition that BancShares will be unable to collect all contractually required payments, are classified as PCI loans. PCI loans are recorded at fair value at the date of acquisition. If the timing and amount of the future cash flows can be reasonably estimated, any excess of cash flows expected at acquisition over the estimated fair value are recognized as interest income over the life of the loans using the effective yield method. Subsequent to the acquisition date, increases in cash flows over those expected at the acquisition date are recognized prospectively as interest income. Decreases in expected cash flows due to credit deterioration are recognized by recording an allowance for loan losses. In the event of prepayment, the remaining unamortized amount is recognized in interest income. To the extent possible, PCI loans are aggregated into pools based upon common risk characteristics and each pool is accounted for as a single unit. The performance of all loans within the BancShares portfolio is subject to a number of external risks, including changes in the overall health of the economy, declines in real estate values, changes in the demand for products and services and personal events, such as death, disability or change in marital status. BancShares evaluates and reports its non-PCI and PCI loan portfolios separately, and each portfolio is further divided into commercial and non-commercial segments based on the type of borrower, purpose, collateral and/or our underlying credit management processes. Additionally, commercial and noncommercial loans are assigned to loan classes, which further disaggregate the loan portfolio. Non-PCI Commercial Loans & Leases Non-PCI commercial loans, excluding purchased non-impaired loans, are underwritten based primarily upon the customer’s ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. Additionally, an understanding of the borrower’s business, including the experience and background of the principals is obtained prior to approval. To the extent the loan is secured by collateral, the likely value of the collateral and what level of strength the collateral brings to the transaction is also evaluated. If the principals or other parties provide personal guarantees, the relative financial strength and liquidity of each guarantor is also assessed. Acquired non-PCI commercial loans are evaluated using comparable methods and procedures as those originated by BancShares. Construction and land development - Construction and land development consists of loans to finance land for development of commercial or residential real property and construction of multifamily apartments or other commercial properties. These loans are highly dependent on the supply and demand for commercial real estate as well as the demand for newly constructed residential homes and lots acquired for development. Deterioration in demand could result in decreased collateral values, which could make repayments of outstanding loans difficult for customers. Commercial mortgage - Commercial mortgage consists of loans to purchase or refinance owner-occupied or investment nonresidential properties. Commercial mortgages secured by owner-occupied properties are primarily dependent on the ability of borrowers to achieve business results consistent with those projected at loan origination. Commercial mortgages secured by investment properties include office buildings and other facilities rented or leased to unrelated parties. The primary risk associated with income producing commercial mortgage loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. While these loans and leases are collateralized by real property in an effort to mitigate risk, it is possible the liquidation of collateral will not fully satisfy the obligation. Other commercial real estate - Other commercial real estate consists of loans secured by farmland (including residential farms and other improvements) and multifamily (five or more) residential properties. The performance of agricultural loans is highly dependent on favorable weather, reasonable costs for seed and fertilizer and the ability to successfully market the product at a profitable margin. The demand for these products is also dependent on macroeconomic conditions beyond the control of the borrower. The primary risk associated with multifamily loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. High unemployment or generally weak economic conditions may result in borrowers having to provide rental rate concessions to achieve adequate occupancy rates. Commercial and industrial and lease financing - Commercial and industrial and lease financing consists of loans or lines of credit to finance accounts receivable, inventory or other general business needs, business credit cards, and lease financing agreements for equipment, vehicles, or other assets. The primary risk associated with commercial and industrial and lease financing loans is the ability of borrowers to achieve business results consistent with those projected at origination. Failure to achieve these projections presents risk the borrower will be unable to service the debt consistent with the contractual terms of the loan or lease. Other - Other consists of all other commercial loans not classified in one of the preceding classes. These typically include loans to nonprofit organizations such as churches, hospitals, educational and charitable organizations, and certain loans repurchased with government guarantees. Non-PCI Noncommercial Loans & Leases Non-PCI noncommercial loans, excluding purchased non-impaired loans, are centrally underwritten using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use and recent credit inquiries. To the extent the loan is secured by collateral, the likely value of such collateral is evaluated. Acquired non-PCI noncommercial loans are evaluated using comparable methods and procedures as those originated by BancShares. Residential mortgage - Residential mortgage consists of loans to purchase or refinance the borrower’s primary dwelling, second residence or vacation home and are often secured by 1-4 family residential property. Significant and rapid declines in real estate values can result in borrowers having debt levels in excess of the current market value of the collateral. Revolving mortgage - Revolving mortgage consists of home equity lines of credit secured by first or second liens on the borrower’s primary residence. These loans are often secured by second liens on the residential real estate and are particularly susceptible to declining collateral values as a substantial decline in value could render a second lien position effectively unsecured. Construction and land development - Construction and land development consists of loans to construct a borrower’s primary or secondary residence or vacant land upon which the owner intends to construct a dwelling at a future date. These loans are typically secured by undeveloped or partially developed land in anticipation of completing construction of a 1-4 family residential property. There is risk these construction and development projects can experience delays and cost overruns exceeding the borrower’s financial ability to complete the project. Such cost overruns can result in foreclosure of partially completed and unmarketable collateral. Consumer - Consumer loans consist of installment loans to finance purchases of vehicles, unsecured home improvements, student loans and revolving lines of credit that can be secured or unsecured, including personal credit cards. The value of the underlying collateral within this class is at risk of potential rapid depreciation which could result in unpaid balances in excess of the collateral. PCI Loans The segments and classes utilized to evaluate and report PCI loans is consistent with that of non-PCI loans. PCI loans were underwritten by other institutions, often with different lending standards and methods; however, the underwriting risks are generally consistent with the risks identified for non-PCI loans. Additionally, in some cases, collateral for PCI loans may be located in regions that previously experienced deterioration in real estate values and the underlying collateral may therefore not support full repayment of these loans. Nonperforming Assets and Troubled Debt Restructurings Nonperforming Assets (“NPA”) NPAs include nonaccrual loans and foreclosed property. Foreclosed property consists of real estate and other assets acquired as a result of loan defaults and is discussed below. All loans are classified as past due when the payment of principal and interest based upon contractual terms is greater than 30 days delinquent. Non-PCI loans are generally placed on nonaccrual when principal or interest becomes 90 days past due or when it is probable the principal or interest is not fully collectible. When non-PCI loans are placed on nonaccrual, all previously uncollected accrued interest is reversed from interest income and the ongoing accrual of interest is discontinued. All payments received thereafter are applied as a reduction of the remaining principal balance as long as doubt exists as to the ultimate collection of the principal. Non-PCI loans and leases are generally removed from nonaccrual status when they become current for a sustained period of time and there is no longer concern as to the collectability of principal and interest. Accretion of income for PCI loans is discontinued when we are unable to estimate the amount or timing of cash flows. PCI loans may begin or resume accretion of income when information becomes available allowing us to estimate the amount and timing of future cash flows. The majority of PCI loans are pooled for accounting purposes and therefore, the NPA status is determined based upon the aggregate performance of the pool. Troubled Debt Restructurings (“TDR”) A loan is considered a TDR when both of the following occur: (1) a modification to a borrower’s debt agreement is made and (2) a concession is granted for economic or legal reasons related to a borrower’s financial difficulties that otherwise would not be granted. TDR concessions could include short-term deferrals of interest, modifications of payment terms, or (in certain limited instances) forgiveness of principal or interest. Loans restructured as a TDR are treated and reported as such for the remaining life of the loan. Modifications of pooled PCI loans are not designated as TDRs, whereas modifications of non-pooled PCI loans are designated as TDRs in the same manner as non-PCI loans. TDR loans can be nonaccrual or accrual, depending on the individual facts and circumstances of the borrower. In circumstances where a portion of the loan balance is charged-off, the remaining balance is typically classified as nonaccrual. Allowance for Loan and Lease Losses (“ALLL”) The ALLL represents management’s best estimate of inherent credit losses within the loan and lease portfolio at the balance sheet date. Management determines the ALLL based on an ongoing evaluation of the loan portfolio. Estimates for loan losses are determined by analyzing quantitative and qualitative components, such as: economic conditions, historical loan losses, historical loan migration to charge-off experience, current trends in delinquencies and charge-offs, expected cash flows on PCI loans, current assessment of impaired loans, and changes in the size, composition and/or risk within the loan portfolio. Adjustments to the ALLL are recorded with a corresponding entry to provision for loan and lease losses. Loan balances considered uncollectible are charged-off against the ALLL. Recoveries of amounts previously charged-off are generally credited to the ALLL. A primary component of determining the allowance on non-PCI loans collectively evaluated is the actual loss history of the various loan classes. Loan loss factors are based on historical experience and may be adjusted for significant factors, that in management’s judgment, affect the collectability of principal and interest at the balance sheet date. In accordance with our allowance methodology, loan loss factors are monitored quarterly and may be adjusted based on changes in the level of historical net charge-offs and updates by management, such as the number of periods included in the calculation of loss factors, loss severity, loss emergence period and portfolio attrition. For the non-PCI commercial segment, management incorporates historical net loss data to develop the applicable loan loss factors. General reserves for collective impairment are based on incurred loss estimates for the loan class based on average loss rates by credit quality indicators, which are estimated using historical loss experience and credit risk rating migrations. Credit quality indicators include borrower classification codes and facility risk ratings. Incurred loss estimates may be adjusted through a qualitative assessment to reflect current economic conditions and portfolio trends including credit quality, concentrations, aging of the portfolio and significant policy and underwriting changes. For the non-PCI noncommercial segment, management incorporates specific loan class and delinquency status trends into the loan loss factors. General reserve estimates of incurred losses are based on historical loss experience and the migration of loans through the various delinquency pools applied to the current risk mix. Non-PCI loans are considered to be impaired when, based on current information and events, it is probable that a borrower will be unable to pay all amounts due according to the contractual terms of the loan agreement. Generally, management considers the following loans to be impaired: all TDR loans and all loan relationships which are on nonaccrual or 90+ days past due and greater than $500,000. Non-PCI impaired loans greater than $500,000 are evaluated individually for impairment while others are evaluated collectively. The impairment assessment and determination of the related specific reserve for each impaired loan is based on the loan’s characteristics. Impairment measurement for loans dependent on borrower cash flow for repayment is based on the present value of expected cash flows discounted at the interest rate implicit in the original loan agreement. Impairment measurement for most real estate loans, particularly when a loan is considered to be a probable foreclosure, is based on the fair value of the underlying collateral. Collateral is appraised and market value (appropriately adjusted for an assessment of the sales and marketing costs) is used to calculate a fair value estimate. A specific valuation allowance is established or partial charge-off is recorded for the difference between the excess recorded investment in the loan and the loan’s estimated fair value less costs to sell. The ALLL for PCI loans is estimated based on the expected cash flows over the life of the loan. BancShares continues to estimate and update cash flows expected to be collected on individual loans or pools of loans sharing common risk characteristics. BancShares compares the carrying value of all PCI loans to the present value at each balance sheet date. If the present value is less than the carrying value, the shortfall reduces the remaining credit discount and if it is in excess of the remaining credit discount, an ALLL is recorded through the recognition of provision expense. The ALLL for PCI loans with subsequent increases in expected cash flows to be collected is reduced and any remaining excess is recorded as an adjustment to the accretable yield over the loan’s or pool’s remaining life. Reserve for Unfunded Commitments The reserve for unfunded commitments represents the estimated probable losses related to standby letters of credit and other commitments to extend credit. The reserve is calculated in a manner similar to the loans evaluated collectively for impairment, while also considering the applicable regulatory capital credit conversion factors for these off-balance sheet instruments as well as the estimated exposure upon default. The reserve for unfunded commitments is presented within other liabilities, distinct from the ALLL, and adjustments to the reserve for unfunded commitments are included in other noninterest expense and represent an immaterial balance. Other Real Estate Owned (“OREO”) OREO includes foreclosed real estate property and closed branch properties and is initially recorded at the asset’s estimated fair value less cost to sell. Any excess in the recorded investment in the loan over the estimated fair value less costs to sell is charged-off against the ALLL at the time of foreclosure. If the estimated value of the OREO exceeds the recorded investment of the loan, the difference is recorded as a gain within other income. OREO is subsequently carried at the lower of cost or market value less estimated selling costs and is evaluated at least annually. The periodic evaluations are generally based on the appraised value of the property and may include additional adjustments based upon management’s review of the valuation estimate and specific knowledge of the property. Routine maintenance costs, income and expenses related to the operation of the foreclosed asset, subsequent declines in market value and net gains or losses on disposal are included in collection and foreclosure-related expense. Payable to the Federal Deposit Insurance Corporation (“FDIC”) for Shared-Loss Agreements The purchase and assumption agreements for certain FDIC-assisted transactions include payments that may be owed to the FDIC at the termination of the shared-loss agreements . The payment is due to the FDIC if actual cumulative losses on acquired covered assets are lower than the cumulative losses originally estimated by the FDIC at the time of acquisition. The liability is calculated by discounting estimated future payments and is reported as FDIC shared-loss payable. The ultimate settlement amount of the payment is dependent upon the performance of the underlying covered loans, recoveries, the passage of time and actual claims submitted to the FDIC. Premises and Equipment Premises and equipment are carried at cost less accumulated depreciation. Land is carried at cost. Depreciation expense is generally computed using the straight-line method over the estimated useful lives of the assets. Leasehold improvements and capitalized leases are amortized on a straight-line basis over the lesser of the lease terms or the estimated useful lives of the assets. Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price of an acquired entity over the fair value of the identifiable assets acquired. Goodwill is not amortized, but is evaluated at least annually for impairment during the third quarter, or when events or changes in circumstances indicate a potential impairment exists. Other acquired intangible assets with finite lives, such as core deposit intangibles, are initially recorded at fair value and are amortized on an accelerated basis typically between five to twelve years over their estimated useful lives. Intangible assets are evaluated for impairment when events or changes in circumstances indicate a potential impairment exists. Mortgage Servicing Rights (“MSR”) The right to provide servicing under various loan servicing contracts is either retained in connection with a loan sale or acquired in a business combination. MSRs are initially recorded at fair value and amortized in proportion to, and over the period of, the future net servicing income of the underlying loan. At each reporting period, MSRs are evaluated for impairment based upon the fair value of the rights as compared to the carrying value. Fair Values The fair value of financial instruments and the methods and assumptions used in estimating fair value amounts and financial assets and liabilities for which fair value was elected are detailed in Note P , Estimated Fair Values. Income Taxes Income taxes are accounted for using the asset and liability approach as prescribed in ASC 740, Income Taxes . Under this method, a deferred tax asset or liability is determined based on the currently enacted tax rates applicable to the period in which the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in BancShares’ income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period which includes the enactment date. The potential impact of current events on the estimates used to establish income tax expenses and income tax liabilities is continually monitored and evaluated. Income tax positions based on current tax law, positions taken by various tax auditors within the jurisdictions where income tax returns are filed, as well as potential or pending audits or assessments by such tax auditors are evaluated on a periodic basis. BancShares has unrecognized tax benefits related to the uncertain portion of tax positions BancShares has taken or expects to take. A liability may be created or an amount refundable may be reduced for the amount of unrecognized tax benefits. These uncertainties result from the application of complex tax laws, rules, regulations and interpretations, primarily in state taxing jurisdictions. Unrecognized tax benefits are assessed quarterly and may be adjusted through current income tax expense in future periods based on changing facts and circumstances, completion of examinations by taxing authorities or expiration of a statute of limitations. Estimated penalties and interest on uncertain tax positions are recognized in income tax expense. BancShares files a consolidated federal income tax return and various com |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Business Combinations | BUSINESS COMBINATIONS FCB has evaluated the financial statement significance for all business combinations completed during 2019 and 2018 . FCB has concluded the completed business combinations noted below are not material to BancShares’ consolidated financial statements, individually or in aggregate, and therefore, pro forma financial data has not been included. Each transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding closing date fair value becomes available. As of December 31, 2019, there have been no refinements to the fair value of assets acquired and liabilities assumed. As part of the accounting for each acquisition, we perform an analysis of the acquired bank’s loan portfolio. Based on such credit factors as past due status, nonaccrual status, life-to-date charge-offs and other quantitative and qualitative considerations, the acquired loans were separated into PCI loans with evidence of credit deterioration since origination, which are accounted for under ASC 310-30, and non-PCI loans that do not meet this criteria, which are accounted for under ASC 310-20. Community Financial Holding Co. Inc. On February 1, 2020, FCB completed the merger of Duluth, Georgia-based Community Financial Holding Co. Inc. (“Community Financial”) and its bank subsidiary, Gwinnett Community Bank. Under the terms of the agreement, total cash consideration of $2.3 million was paid to the shareholders of Community Financial. The merger allows FCB to expand its presence and enhance banking efforts in Georgia. As of December 31, 2019, Community Financial reported $224.0 million in consolidated assets, $136.9 million in loans, and $211.8 million in deposits. Entegra Financial Corp. On December 31, 2019, FCB completed the merger of Franklin, North Carolina-based Entegra Financial Corp. (“Entegra”) and its bank subsidiary, Entegra Bank. Under the terms of the agreement, cash consideration of $30.18 per share was paid to the shareholders of Entegra for each share of common stock totaling approximately $222.8 million . The merger allows FCB to expand its presence and enhance banking efforts in western North Carolina. The fair value of the assets acquired was $1.68 billion , including $953.7 million in non-PCI loans, $77.5 million in PCI loans and $4.5 million in a core deposit intangible. Liabilities assumed were $1.51 billion , of which $1.33 billion were deposits. As a result of the transaction, FCB recorded $52.6 million of goodwill. The amount of goodwill represents the excess purchase price over the estimated fair value of the net assets acquired. The premium paid reflects the increased market share and related synergies expected to result from the acquisition. None of the goodwill is deductible for income tax purposes as the merger was accounted for as a qualified stock purchase. FCB was required to agree to divest certain branches, other assets and liabilities in order to obtain regulatory approval for the transaction. FCB and Select Bank & Trust Company (“Select Bank”) have entered into an agreement for Select Bank to purchase North Carolina branches, located in Highlands, Sylva and Franklin. The branch sales are anticipated to close in 2020. The assets and liabilities of the branches to be divested are recorded on the Consolidated Balance Sheets and in the related Notes to the Consolidated Financial Statements within loans and leases, premises and equipment and total deposits with a fair value of $106.4 million , $2.3 million , and $186.4 million , respectively as of December 31, 2019. The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase price $ 222,750 Assets Cash and due from banks $ 59,815 Overnight investments 242,770 Investment securities 227,834 Loans 1,031,186 Premises and equipment 24,458 Other real estate owned 1,846 Income earned not collected 5,447 Intangible assets 6,899 Other assets 81,069 Total assets acquired 1,681,324 Liabilities Deposits 1,326,967 Borrowings 169,433 Other liabilities 14,808 Total liabilities assumed $ 1,511,208 Fair value of net assets acquired 170,116 Goodwill recorded for Entegra $ 52,634 Merger-related expenses of $5.4 million from the Entegra transaction were recorded in the Consolidated Statement of Income for the year ended December 31, 2019. Entegra assets generated no loan-related interest income for the year ended December 31, 2019. First South Bancorp, Inc. On May 1, 2019, FCB completed the merger of Spartanburg, South Carolina-based First South Bancorp, Inc. (“First South Bancorp”) and its bank subsidiary, First South Bank. Under the terms of the agreement, cash consideration of $1.15 per share was paid to the shareholders of First South Bancorp for each share of common stock totaling approximately $37.5 million . The merger allows FCB to expand its presence and enhance banking efforts in South Carolina. The fair value of the assets acquired was $239.2 million , including $162.8 million in non-PCI loans, $16.4 million in PCI loans and $2.3 million in a core deposit intangible. Liabilities assumed were $215.6 million , of which $207.6 million were deposits. As a result of the transaction, FCB recorded $13.9 million of goodwill. The amount of goodwill represents the excess purchase price over the estimated fair value of the net assets acquired. The premium paid reflects the increased market share and related synergies expected to result from the acquisition. None of the goodwill is deductible for income tax purposes as the merger was accounted for as a qualified stock purchase. The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase price $ 37,486 Assets Cash and due from banks $ 4,633 Overnight investments 3,188 Investment securities 23,512 Loans 179,243 Premises and equipment 4,944 Other real estate owned 1,567 Income earned not collected 604 Intangible assets 2,268 Other assets 19,192 Total assets acquired 239,151 Liabilities Deposits 207,556 Borrowings 5,155 Other liabilities 2,850 Total liabilities assumed $ 215,561 Fair value of net assets acquired 23,590 Goodwill recorded for First South Bancorp $ 13,896 Merger-related expenses of $4.1 million from the First South Bancorp transaction were recorded in the Consolidated Statement of Income for the year ended December 31, 2019. Loan-related interest income generated from First South Bancorp was approximately $6.1 million since the acquisition date. Biscayne Bancshares, Inc. On April 2, 2019, FCB completed the merger of Coconut Grove, Florida-based Biscayne Bancshares, Inc. (“Biscayne Bancshares”) and its bank subsidiary, Biscayne Bank. Under the terms of the agreement, cash consideration of $25.05 per share was paid to the shareholders of Biscayne Bancshares for each share of common stock, totaling approximately $118.9 million . The merger allows FCB to expand its presence in Florida and enhance banking efforts in South Florida. The fair value of the assets acquired was $1.03 billion , including $850.4 million in non-PCI loans, $13.0 million in PCI loans and $4.7 million in a core deposit intangible. Liabilities assumed were $956.8 million , of which $786.5 million were deposits. As a result of the transaction, FCB recorded $46.5 million of goodwill. The amount of goodwill represents the excess purchase price over the estimated fair value of the net assets acquired. The premium paid reflects the increased market share and related synergies expected to result from the acquisition. None of the goodwill was deductible for income tax purposes as the merger was accounted for as a qualified stock purchase. The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values: (Dollars in thousands) As recorded by FCB Purchase price $ 118,949 Assets Cash and due from banks $ 78,010 Overnight investments 306 Investment securities held to maturity 34,539 Loans 863,384 Premises and equipment 1,533 Other real estate owned 2,046 Income earned not collected 3,049 Intangible assets 4,745 Other assets 41,572 Total assets acquired 1,029,184 Liabilities Deposits 786,512 Borrowings 157,415 Accrued interest payable — Other liabilities 12,829 Total liabilities assumed $ 956,756 Fair value of net assets acquired 72,428 Goodwill recorded for Biscayne Bancshares $ 46,521 Merger-related expenses of $5.8 million were recorded in the Consolidated Statement of Income for the year ended December 31, 2019 . Loan-related interest income generated from Biscayne Bancshares was approximately $33.8 million since the acquisition date. Palmetto Heritage Bancshares, Inc. On November 1, 2018, FCB completed the merger of Pawleys Island, South Carolina-based Palmetto Heritage Bancshares, Inc. (“Palmetto Heritage”) and its subsidiary, Palmetto Heritage Bank & Trust, into FCB. The Palmetto Heritage transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values were subject to refinement for up to one year after the closing date of the acquisition. The measurement period ended on October 31, 2019, with no material changes to the original calculated fair values. The fair value of the assets acquired was $162.2 million , including $131.3 million in non-PCI loans, $3.9 million in PCI loans and $1.7 million in a core deposit intangible. Liabilities assumed were $149.3 million , of which $124.9 million were deposits. As a result of the transaction, FCB recorded $17.5 million of goodwill. The amount of goodwill represents the excess purchase price over the estimated fair value of the net assets acquired. Merger-related expenses of $0.6 million and $0.5 million from the Palmetto Heritage transaction were recorded in the Consolidated Statements of Income for the years ended December 31, 2019 and 2018, respectively. Loan-related interest income generated from Palmetto Heritage was approximately $5.6 million and $1.2 million for the years ended December 31, 2019 and 2018, respectively. Capital Commerce Bancorp, Inc. On October 2, 2018, FCB completed the merger of Milwaukee, Wisconsin-based Capital Commerce Bancorp, Inc. (“Capital Commerce”) and its subsidiary, Securant Bank & Trust, into FCB. The Capital Commerce transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values were subject to refinement for up to one year after the closing date. The measurement period ended on October 1, 2019, with no material changes to the original calculated fair values. The fair value of the assets acquired was $221.9 million , including $173.4 million in non-PCI loans, $10.8 million in PCI loans and $2.7 million in a core deposit intangible. Liabilities assumed were $204.5 million , of which $172.4 million were deposits. As a result of the transaction, FCB recorded $10.7 million of goodwill. Merger-related expenses of $0.7 million and $1.2 million from the Capital Commerce transaction were recorded in the Consolidated Statements of Income for the years ended December 31, 2019 and 2018, respectively. Loan-related interest income generated from Capital Commerce was approximately $8.1 million and $3.2 million for the years ended December 31, 2019 and 2018, respectively. HomeBancorp, Inc. On May 1, 2018, FCB completed the merger of Tampa, Florida-based HomeBancorp, Inc. (“HomeBancorp”) and its subsidiary, HomeBanc, into FCB. The HomeBancorp transaction was accounted for under the acquisition method of accounting and, accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values on the acquisition date. Fair values were subject to refinement for up to one year after the closing date. The measurement period ended on April 30, 2019, with no material changes to the original calculated fair values. The fair value of the assets acquired was $842.7 million , including $550.6 million in non-PCI loans, $15.6 million in PCI loans and $9.9 million in a core deposit intangible. Liabilities assumed were $787.7 million , of which $619.6 million were deposits. As a result of the transaction, FCB recorded $57.6 million of goodwill. Merger-related expenses of $0.1 million and $2.3 million from the HomeBancorp transaction were recorded in the Consolidated Statements of Income for the years ended December 31, 2019 and 2018, respectively. Loan-related interest income generated from HomeBancorp was approximately $21.4 million and $17.4 million |
Investments
Investments | 12 Months Ended |
Dec. 31, 2019 | |
Investments [Abstract] | |
Investments | INVESTMENTS The amortized cost and fair value of investment and marketable equity securities at December 31, 2019 and 2018 , were as follows: December 31, 2019 (Dollars in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities available for sale U.S. Treasury $ 409,397 $ 602 $ — $ 409,999 Government agency 684,085 928 2,241 682,772 Residential mortgage-backed securities 5,269,060 13,417 15,387 5,267,090 Commercial mortgage-backed securities 373,105 6,974 59 380,020 Corporate bonds 198,278 3,420 132 201,566 State, county and municipal 118,227 — — 118,227 Total investment securities available for sale $ 7,052,152 $ 25,341 $ 17,819 $ 7,059,674 Investment in marketable equity securities 59,262 23,304 233 82,333 Investment securities held to maturity Other 30,996 — — 30,996 Total investment securities $ 7,142,410 $ 48,645 $ 18,052 $ 7,173,003 December 31, 2018 Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities available for sale U.S. Treasury $ 1,249,243 $ 633 $ 2,166 $ 1,247,710 Government agency 257,252 222 639 256,835 Residential mortgage-backed securities 2,956,793 5,309 52,763 2,909,339 Corporate bonds 143,829 261 864 143,226 Total investment securities available for sale $ 4,607,117 $ 6,425 $ 56,432 $ 4,557,110 Investment in marketable equity securities 73,809 19,010 220 92,599 Investment securities held to maturity Residential mortgage-backed securities 2,087,024 16,592 490 2,103,126 Commercial mortgage-backed securities 97,629 747 — 98,376 Total investment securities held to maturity 2,184,653 17,339 490 2,201,502 Total investment securities $ 6,865,579 $ 42,774 $ 57,142 $ 6,851,211 As described in Note A, Accounting Policies and Basis of Presentation, on November 1, 2019, as part of the adoption of ASU 2019-04, mortgage-backed securities with an amortized cost of $2.08 billion were transferred from investment securities held to maturity to the available for sale portfolio. At the time of the transfer, the securities had a fair value of $2.15 billion . The transfer resulted in a reclassification of unrealized losses of $72.5 million , or $55.8 million net of tax, previously frozen in AOCI as a result of the initial transfer to held to maturity. FCB still has the intent and ability to hold the remainder of the held to maturity portfolio to maturity. On May 1, 2018, mortgage-backed securities with an amortized cost of $2.49 billion were transferred from investment securities available for sale to the held to maturity portfolio. At the time of transfer, the mortgage-backed securities had a fair value of $2.38 billion and a weighted average contractual maturity of 13 years . The unrealized loss on these securities at the date of transfer was $109.5 million , or $84.3 million net of tax, and was reported as a component of AOCI. This unrealized loss was accreted over the remaining expected life of the securities as an adjustment of yield and was partially offset by the amortization of the corresponding discount on the transferred securities. Investments in mortgage-backed securities represent securities issued by the Government National Mortgage Association, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation. Investments in government agency securities represent securities issued by the United States Small Business Administration. Investments in corporate bonds and marketable equity securities represent positions in securities of other financial institutions. Other held to maturity investments include certificates of deposit with other financial institutions. BancShares holds approximately 298,000 shares of Visa Class B common stock with a cost basis of zero. BancShares’ Visa Class B shares are not considered to have a readily determinable fair value and are recorded with no fair value. The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Residential and commercial mortgage-backed and government agency securities are stated separately as they are not due at a single maturity date. December 31, 2019 December 31, 2018 (Dollars in thousands) Cost Fair value Cost Fair value Investment securities available for sale Non-amortizing securities maturing in: One year or less $ 406,325 $ 406,927 $ 1,049,253 $ 1,047,380 One through five years 24,496 24,971 205,526 205,805 Five through 10 years 185,209 187,868 134,370 133,626 Over 10 years 109,872 110,026 3,923 4,125 Government agency 684,085 682,772 257,252 256,835 Residential mortgage-backed securities 5,269,060 5,267,090 2,956,793 2,909,339 Commercial mortgage-backed securities 373,105 380,020 — — Total investment securities available for sale $ 7,052,152 $ 7,059,674 $ 4,607,117 $ 4,557,110 Investment securities held to maturity Non-amortizing securities maturing in: One year or less 30,746 30,746 — — One through five years 250 250 — — Residential mortgage-backed securities — — 2,087,024 2,103,126 Commercial mortgage-backed securities — — 97,629 98,376 Total investment securities held to maturity $ 30,996 $ 30,996 $ 2,184,653 $ 2,201,502 For each period presented, realized gains on investment securities available for sale include the following: Year ended December 31 (Dollars in thousands) 2019 2018 2017 Gross gains on retirement/sales of investment securities available for sale $ 8,993 $ 353 $ 11,635 Gross losses on sales of investment securities available for sale (1,878 ) (2 ) (7,342 ) Realized gains on investment securities available for sale, net $ 7,115 $ 351 $ 4,293 For each period presented, realized and unrealized gains or losses on marketable equity securities include the following: Year ended December 31 (Dollars in thousands) 2019 2018 Marketable equity securities gains (losses), net $ 20,625 $ (7,610 ) Less net gains recognized on marketable equity securities sold 16,344 1,190 Unrealized (losses) gains recognized on marketable equity securities held $ 4,281 $ (8,800 ) The following table provides information regarding investment securities with unrealized losses as of December 31, 2019 and 2018 : December 31, 2019 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale Government agency $ 347,081 $ 1,827 $ 63,947 $ 414 $ 411,028 $ 2,241 Residential mortgage-backed securities 2,387,293 14,016 264,257 1,371 2,651,550 15,387 Commercial mortgage-backed securities 35,926 59 — — 35,926 59 Corporate bonds 7,714 123 4,749 9 12,463 132 Total $ 2,778,014 $ 16,025 $ 332,953 $ 1,794 $ 3,110,967 $ 17,819 December 31, 2018 Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale U.S. Treasury $ 248,983 $ 113 $ 848,622 $ 2,053 $ 1,097,605 $ 2,166 Government agency 115,273 601 2,310 38 117,583 639 Residential mortgage-backed securities 262,204 2,387 1,940,695 50,376 2,202,899 52,763 Corporate bonds 79,066 842 5,000 22 84,066 864 Total $ 705,526 $ 3,943 $ 2,796,627 $ 52,489 $ 3,502,153 $ 56,432 Investment securities held to maturity Residential mortgage-backed securities $ 5,111 $ 181 $ 10,131 $ 309 $ 15,242 $ 490 As of December 31, 2019 , there were 91 investment securities available for sale with continuous losses for more than 12 months of which 90 are government sponsored, enterprise-issued mortgage-backed securities or government agency securities and 1 is a corporate bond. None of the unrealized losses identified as of December 31, 2019 or December 31, 2018 relate to the marketability of the securities or the issuer’s ability to honor redemption obligations. Rather, the unrealized losses related to changes in interest rates and spreads relative to when the investment securities were purchased. BancShares has the ability and intent to retain these securities for a period of time sufficient to recover all unrealized losses. Therefore, none of the losses on these securities were deemed to be OTTI. Investment securities having an aggregate carrying value of $3.93 billion at December 31, 2019 and $4.03 billion at December 31, 2018 , were pledged as collateral to secure public funds on deposit and certain short-term borrowings, and for other purposes as required by law. |
Loans and Leases
Loans and Leases | 12 Months Ended |
Dec. 31, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans and Leases | LOANS AND LEASES BancShares’ accounting methods for loans and leases differ depending on whether they are non-PCI or PCI. Loans originated by BancShares and loans performing under their contractual obligations at acquisition are classified as Non-PCI. Loans reflecting credit deterioration since origination such that it is probable at acquisition that BancShares will be unable to collect all contractually required payments are classified as PCI. Additionally, acquired loans are recorded at fair value at the date of acquisition, with no corresponding allowance for loan and lease losses. See Note A , Accounting Policies and Basis of Presentation, for additional information on non-PCI and PCI loans and leases. Loans and leases outstanding include the following at December 31, 2019 and 2018 : (Dollars in thousands) December 31, 2019 December 31, 2018 Non-PCI loans and leases: Commercial: Construction and land development $ 1,013,454 $ 757,854 Commercial mortgage 12,282,635 10,717,234 Other commercial real estate 542,028 426,985 Commercial and industrial and leases 4,403,792 3,938,730 Other 310,093 296,424 Total commercial loans 18,552,002 16,137,227 Noncommercial: Residential mortgage 5,293,917 4,265,687 Revolving mortgage 2,339,072 2,542,975 Construction and land development 357,385 257,030 Consumer 1,780,404 1,713,781 Total noncommercial loans 9,770,778 8,779,473 Total non-PCI loans and leases 28,322,780 24,916,700 Total PCI loans 558,716 606,576 Total loans and leases $ 28,881,496 $ 25,523,276 At December 31, 2019 , $9.41 billion in non-PCI loans with a lendable collateral value of $6.57 billion were used to secure $563.7 million in FHLB of Atlanta advances, resulting in additional borrowing capacity of $6.01 billion . At December 31, 2018 , $9.12 billion in non-PCI loans with a lendable collateral value of $6.36 billion were used to secure $175.2 million in FHLB of Atlanta advances, resulting in additional borrowing capacity of $6.18 billion . At December 31, 2019 , $3.68 billion in non-PCI loans with a lendable collateral value of $2.98 billion were used to secure additional borrowing capacity at the Federal Reserve Bank (“FRB”). At December 31, 2018 , $2.94 billion in non-PCI loans with a lendable collateral value of $2.19 billion were used to secure additional borrowing capacity at the FRB. Certain residential real estate loans are originated to be sold to investors and are recorded in loans held for sale at fair value. Loans held for sale totaled $67.9 million and $45.5 million at December 31, 2019 and 2018 , respectively. We may change our strategy for certain portfolio loans and sell them in the secondary market. At such time, portfolio loans are transferred to loans held for sale at fair value. During 2019 , total proceeds from sales of residential mortgage loans were $756.0 million of which $731.8 million related to sales of loans held for sale. The remaining $24.2 million related to sales of portfolio loans, which resulted in a gain of $299 thousand . During 2018 , total proceeds from sales of residential mortgage loans were $618.1 million , of which $608.5 million related to sales of loans held for sale. The remaining $9.6 million related to sales of portfolio loans, which were sold at par. Net deferred fees on originated non-PCI loans and leases, including unearned income as well as unamortized costs, were $927 thousand and $79 thousand at December 31, 2019 and 2018 , respectively. The unamortized discounts related to purchased non-PCI loans was $30.9 million at December 31, 2019 and $33.3 million at December 31, 2018 . During the years ended December 31, 2019 and 2018 , accretion income on purchased non-PCI loans and leases was $13.2 million and $12.8 million , respectively. Loans and leases to borrowers in medical, dental or related fields were $5.16 billion as of December 31, 2019 , which represents 17.9% of total loans and leases, compared to $4.98 billion or 19.5% of total loans and leases at December 31, 2018 . The credit risk of this industry concentration is mitigated through our underwriting policies, which emphasize reliance on adequate borrower cash flow, rather than underlying collateral value, and our preference for financing secured by owner-occupied real property. Except for this single concentration, no other industry represented more than 10% of total loans and leases outstanding at December 31, 2019 . Credit quality indicators Loans and leases are monitored for credit quality on a recurring basis. Commercial and noncommercial loans and leases have different credit quality indicators as a result of the unique characteristics of the loan segments being evaluated. The credit quality indicators for non-PCI and PCI commercial loans and leases are developed through a review of individual borrowers on an ongoing basis. Commercial loans are evaluated periodically with more frequent evaluations done on criticized loans. The indicators as of the date presented are based on the most recent assessment performed and are defined below: Pass – A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification. Special mention – A special mention asset has potential weaknesses which deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification. Substandard – A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected. Doubtful – An asset classified as doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable on the basis of currently existing facts, conditions and values. Loss – Assets classified as loss are considered uncollectible and of such little value it is inappropriate to be carried as an asset. This classification is not necessarily equivalent to any potential for recovery or salvage value, but rather it is not appropriate to defer a full charge-off even though partial recovery may be affected in the future. Ungraded – Ungraded loans represent loans not included in the individual credit grading process due to their relatively small balances or borrower type. The majority of ungraded loans at December 31, 2019 and 2018, relate to business credit cards. Business credit card loans are subject to automatic charge-off when they become 120 days past due in the same manner as unsecured consumer lines of credit. The remaining balance is comprised of a small amount of commercial mortgage, lease financing and other commercial real estate loans. The credit quality indicators for non-PCI and PCI noncommercial loans are based on delinquency status of the borrower as of the date presented. As the borrower becomes more delinquent, the likelihood of loss increases. The composition of the loans and leases outstanding at December 31, 2019 and December 31, 2018 , by credit quality indicator are provided below: December 31, 2019 Non-PCI commercial loans and leases (Dollars in thousands) Construction and Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Total non-PCI commercial loans and leases Pass $ 1,004,922 $ 12,050,799 $ 536,682 $ 4,256,456 $ 308,796 $ 18,157,655 Special mention 2,577 115,164 3,899 44,604 622 166,866 Substandard 5,955 116,672 1,447 34,148 675 158,897 Doubtful — — — 3 — 3 Ungraded — — — 68,581 — 68,581 Total $ 1,013,454 $ 12,282,635 $ 542,028 $ 4,403,792 $ 310,093 $ 18,552,002 December 31, 2018 Non-PCI commercial loans and leases Construction and Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Total non-PCI commercial loans and leases Pass $ 753,985 $ 10,507,687 $ 422,500 $ 3,778,797 $ 294,700 $ 15,757,669 Special mention 1,369 114,219 3,193 54,814 1,105 174,700 Substandard 2,500 92,743 1,292 30,688 619 127,842 Doubtful — — — 354 — 354 Ungraded — 2,585 — 74,077 — 76,662 Total $ 757,854 $ 10,717,234 $ 426,985 $ 3,938,730 $ 296,424 $ 16,137,227 December 31, 2019 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential mortgage Revolving mortgage Construction and land development Consumer Total non-PCI noncommercial loans and leases Current $ 5,205,380 $ 2,316,010 $ 354,393 $ 1,762,606 $ 9,638,389 30-59 days past due 45,839 9,729 977 10,481 67,026 60-89 days past due 18,289 3,468 218 3,746 25,721 90 days or greater past due 24,409 9,865 1,797 3,571 39,642 Total $ 5,293,917 $ 2,339,072 $ 357,385 $ 1,780,404 $ 9,770,778 December 31, 2018 Non-PCI noncommercial loans and leases Residential mortgage Revolving mortgage Construction and land development Consumer Total non-PCI noncommercial loans and leases Current $ 4,214,783 $ 2,514,269 $ 254,837 $ 1,696,321 $ 8,680,210 30-59 days past due 28,239 12,585 581 10,035 51,440 60-89 days past due 7,357 4,490 21 3,904 15,772 90 days or greater past due 15,308 11,631 1,591 3,521 32,051 Total $ 4,265,687 $ 2,542,975 $ 257,030 $ 1,713,781 $ 8,779,473 December 31, 2019 December 31, 2018 (Dollars in thousands) PCI commercial loans Pass $ 148,412 $ 141,922 Special mention 44,290 48,475 Substandard 87,970 101,447 Doubtful 3,657 4,828 Ungraded — — Total $ 284,329 $ 296,672 December 31, 2019 December 31, 2018 (Dollars in thousands) PCI noncommercial loans Current $ 240,995 $ 268,280 30-89 days past due 13,764 11,155 60-89 days past due 5,608 7,708 90 days or greater past due 14,020 22,761 Total $ 274,387 $ 309,904 The aging of the outstanding non-PCI loans and leases, by class, at December 31, 2019 , and December 31, 2018 is provided in the tables below. Loans and leases 30 days or less past due are considered current, as various grace periods allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement. December 31, 2019 (Dollars in thousands) 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Commercial: Construction and land development $ 3,146 $ 195 $ 2,702 $ 6,043 $ 1,007,411 $ 1,013,454 Commercial mortgage 20,389 8,774 8,319 37,482 12,245,153 12,282,635 Other commercial real estate 861 331 698 1,890 540,138 542,028 Commercial and industrial and leases 18,269 4,842 5,032 28,143 4,375,649 4,403,792 Other 51 411 126 588 309,505 310,093 Total commercial loans 42,716 14,553 16,877 74,146 18,477,856 18,552,002 Noncommercial: Residential mortgage 45,839 18,289 24,409 88,537 5,205,380 5,293,917 Revolving mortgage 9,729 3,468 9,865 23,062 2,316,010 2,339,072 Construction and land development 977 218 1,797 2,992 354,393 357,385 Consumer 10,481 3,746 3,571 17,798 1,762,606 1,780,404 Total noncommercial loans 67,026 25,721 39,642 132,389 9,638,389 9,770,778 Total non-PCI loans and leases $ 109,742 $ 40,274 $ 56,519 $ 206,535 $ 28,116,245 $ 28,322,780 December 31, 2018 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Commercial: Construction and land development $ 516 $ 9 $ 444 $ 969 $ 756,885 $ 757,854 Commercial mortgage 14,200 2,066 3,237 19,503 10,697,731 10,717,234 Other commercial real estate 91 76 300 467 426,518 426,985 Commercial and industrial and leases 9,655 1,759 2,892 14,306 3,924,424 3,938,730 Other 285 — 89 374 296,050 296,424 Total commercial loans 24,747 3,910 6,962 35,619 16,101,608 16,137,227 Noncommercial: Residential mortgage 28,239 7,357 15,308 50,904 4,214,783 4,265,687 Revolving mortgage 12,585 4,490 11,631 28,706 2,514,269 2,542,975 Construction and land development 581 21 1,591 2,193 254,837 257,030 Consumer 10,035 3,904 3,521 17,460 1,696,321 1,713,781 Total noncommercial loans 51,440 15,772 32,051 99,263 8,680,210 8,779,473 Total non-PCI loans and leases $ 76,187 $ 19,682 $ 39,013 $ 134,882 $ 24,781,818 24,916,700 The recorded investment, by class, in loans and leases on nonaccrual status, and loans and leases greater than 90 days past due and still accruing at December 31, 2019 and December 31, 2018 for non-PCI loans and leases, were as follows: December 31, 2019 December 31, 2018 (Dollars in thousands) Nonaccrual loans and leases Loans and leases > 90 days and accruing Nonaccrual loans and leases Loans and leases > 90 days and accruing Commercial: Construction and land development $ 4,281 $ — $ 666 $ — Commercial mortgage 29,733 — 12,594 — Commercial and industrial and leases 7,365 1,094 4,624 808 Other commercial real estate 708 — 366 — Other 320 — 279 — Total commercial loans 42,407 1,094 18,529 808 Noncommercial: Construction and land development 2,828 — 1,823 — Residential mortgage 44,357 45 35,662 — Revolving mortgage 22,411 — 25,563 — Consumer 2,943 2,152 2,969 2,080 Total noncommercial loans 72,539 2,197 66,017 2,080 Total non-PCI loans and leases $ 114,946 $ 3,291 $ 84,546 $ 2,888 Purchased non-PCI loans and leases The following table relates to purchased non-PCI loans acquired in 2019 and 2018 and summarizes the contractually required payments, which include principal and interest, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the acquisition date. 2019 2018 (Dollars in thousands) Entegra First South Bancorp Biscayne Bancshares Palmetto Heritage Capital Commerce HomeBancorp Contractually required payments $ 1,135,451 $ 175,465 $ 1,078,854 $ 142,413 $ 198,568 $ 710,876 Fair value at acquisition date 953,679 162,845 850,352 131,283 173,354 550,618 The recorded fair values of purchased non-PCI loans acquired in 2019 and 2018 as of their respective acquisition date were as follows: 2019 2018 (Dollars in thousands) Entegra First South Bancorp Biscayne Bancshares Palmetto Heritage Capital Commerce HomeBancorp Commercial: Construction and land development $ 92,495 $ 8,663 $ 15,647 $ 13,186 $ 10,299 $ 525 Commercial mortgage 381,729 74,713 203,605 29,225 57,049 188,688 Other commercial real estate 28,678 7,509 98,107 753 6,370 55,183 Commercial and industrial and leases 27,062 40,208 28,135 8,153 34,301 7,931 Other 4,741 — — 1,039 — — Total commercial loans and leases 534,705 131,093 345,494 52,356 108,019 252,327 Noncommercial: Residential mortgage 310,039 24,641 405,419 59,076 50,630 296,273 Revolving mortgage 36,701 2,162 54,081 6,175 2,552 51 Construction and land development 51,786 3,552 31,668 11,103 11,173 — Consumer 20,448 1,397 13,690 2,573 980 1,967 Total noncommercial loans and leases 418,974 31,752 504,858 78,927 65,335 298,291 Total non-PCI loans $ 953,679 $ 162,845 $ 850,352 $ 131,283 $ 173,354 $ 550,618 PCI loans The following table relates to PCI loans acquired in 2019 and 2018 and summarizes the contractually required payments, which include principal and interest, expected cash flows to be collected, and the fair value of PCI loans at the respective acquisition dates. 2019 2018 (Dollars in thousands) Entegra First South Bancorp Biscayne Bancshares Palmetto Heritage Capital Commerce HomeBancorp Contractually required payments $ 103,441 $ 23,389 $ 19,720 $ 4,783 $ 13,871 $ 26,651 Cash flows expected to be collected 82,503 21,392 16,815 4,112 11,814 19,697 Fair value at acquisition date 77,507 16,398 13,032 3,863 10,772 15,555 The recorded fair values of PCI loans acquired in 2019 and 2018 as of their respective acquisition date were as follows: 2019 2018 (Dollars in thousands) Entegra First South Bancorp Biscayne Bancshares Palmetto Heritage Capital Commerce HomeBancorp Commercial: Construction and land development $ 10,326 $ 1,233 $ — $ 212 $ 1,482 $ — Commercial mortgage 30,316 9,355 7,589 1,053 1,846 7,815 Other commercial real estate 1,734 — — — — — Commercial and industrial 1,363 1,202 1,660 372 922 423 Other 1,731 — — — — — Total commercial loans 45,470 11,790 9,249 1,637 4,250 8,238 Noncommercial: Residential mortgage 24,989 4,591 3,783 2,226 6,503 7,317 Revolving mortgage 5,582 — — — — — Construction and land development 1,114 17 — — — — Consumer 352 — — — 19 — Total noncommercial loans 32,037 4,608 3,783 2,226 6,522 7,317 Total PCI loans $ 77,507 $ 16,398 $ 13,032 $ 3,863 $ 10,772 $ 15,555 The following table provides changes in the carrying value of all PCI loans during the years ended December 31, 2019 , 2018 and 2017 : (Dollars in thousands) 2019 2018 2017 Balance at January 1 $ 606,576 $ 762,998 $ 809,169 Fair value of PCI loans acquired during the year 106,937 30,190 199,682 Accretion (1) 57,687 61,502 76,594 Payments received and other changes, net (212,484 ) (248,114 ) (322,447 ) Balance at December 31 $ 558,716 $ 606,576 $ 762,998 Unpaid principal balance at December 31 $ 768,391 $ 960,457 $ 1,175,441 (1) Accretion is recorded in interest income from loans and leases The carrying value of PCI loans on the cost recovery method was $2.9 million and $3.3 million at December 31, 2019 , and 2018 , respectively. The recorded investment of PCI loans on nonaccrual status was $6.7 million and $1.3 million at December 31, 2019 , and 2018 , respectively. PCI loans 90 days past due and still accruing were $24.3 million and $37.0 million at December 31, 2019 , and 2018 , respectively. For PCI loans, improved credit loss expectations generally result in the reclassification of nonaccretable difference to accretable yield. Changes in expected cash flows not related to credit improvements or deterioration do not affect the nonaccretable difference. The following table summarizes changes to the amount of accretable yield for 2019 , 2018 and 2017 . (Dollars in thousands) 2019 2018 2017 Balance at January 1 $ 312,894 $ 316,679 $ 335,074 Additions from acquisitions 17,403 6,393 44,120 Accretion (57,687 ) (61,502 ) (76,594 ) Reclassifications from nonaccretable difference 6,489 5,980 18,901 Changes in expected cash flows that do not affect nonaccretable difference (27,964 ) 45,344 (4,822 ) Balance at December 31 $ 251,135 $ 312,894 $ 316,679 |
Allowance for Loan and Lease Lo
Allowance for Loan and Lease Losses | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Allowance for Loan and Lease Losses | ALLOWANCE FOR LOAN AND LEASE LOSSES Activity in the allowance for non-PCI loan and lease losses by class of loans is summarized as follows: Years ended December 31, 2019, 2018, and 2017 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non- commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: Balance at January 1, 2017 $ 28,877 $ 48,278 $ 3,269 $ 56,132 $ 3,127 $ 14,447 $ 21,013 $ 1,596 $ 28,287 $ 205,026 Provision (credits) (4,329 ) (5,694 ) 1,280 11,624 2,189 2,096 2,509 2,366 17,098 29,139 Charge-offs (599 ) (421 ) (5 ) (11,921 ) (912 ) (1,376 ) (2,368 ) — (18,784 ) (36,386 ) Recoveries 521 2,842 27 3,989 285 539 1,282 — 4,603 14,088 Balance at December 31, 2017 24,470 45,005 4,571 59,824 4,689 15,706 22,436 3,962 31,204 211,867 Provision (credits) 10,533 (1,490 ) (2,171 ) 2,511 (2,827 ) 897 1,112 (1,520 ) 22,187 29,232 Charge-offs (44 ) (1,140 ) (69 ) (10,211 ) (130 ) (1,689 ) (3,235 ) (219 ) (22,817 ) (39,554 ) Recoveries 311 1,076 150 3,496 489 558 1,549 127 5,267 13,023 Balance at December 31, 2018 35,270 43,451 2,481 55,620 2,221 15,472 21,862 2,350 35,841 214,568 Provision (credits) (2,171 ) 2,384 (285 ) 14,212 (754 ) 3,481 (788 ) 359 16,611 33,049 Charge-offs (196 ) (1,096 ) — (13,352 ) (100 ) (1,137 ) (2,584 ) — (24,562 ) (43,027 ) Recoveries 310 596 15 2,894 869 416 1,212 — 6,703 13,015 Balance at December 31, 2019 $ 33,213 $ 45,335 $ 2,211 $ 59,374 $ 2,236 $ 18,232 $ 19,702 $ 2,709 $ 34,593 $ 217,605 The following tables present the allowance and recorded investment in loans and leases by class of loans, as well as the associated impairment method at December 31, 2019 and December 31, 2018 . December 31, 2019 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 463 $ 3,650 $ 39 $ 1,379 $ 103 $ 3,278 $ 2,722 $ 174 $ 1,107 $ 12,915 ALLL for loans and leases collectively evaluated for impairment 32,750 41,685 2,172 57,995 2,133 14,954 16,980 2,535 33,486 204,690 Total allowance for loan and lease losses $ 33,213 $ 45,335 $ 2,211 $ 59,374 $ 2,236 $ 18,232 $ 19,702 $ 2,709 $ 34,593 $ 217,605 Loans and leases: Loans and leases individually evaluated for impairment $ 4,655 $ 70,149 $ 1,268 $ 12,182 $ 639 $ 60,442 $ 28,869 $ 3,882 $ 3,513 $ 185,599 Loans and leases collectively evaluated for impairment 1,008,799 12,212,486 540,760 4,391,610 309,454 5,233,475 2,310,203 353,503 1,776,891 28,137,181 Total loan and leases $ 1,013,454 $ 12,282,635 $ 542,028 $ 4,403,792 $ 310,093 $ 5,293,917 $ 2,339,072 $ 357,385 $ 1,780,404 $ 28,322,780 December 31, 2018 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 490 $ 2,671 $ 42 $ 1,137 $ 105 $ 1,901 $ 2,515 $ 81 $ 885 $ 9,827 ALLL for loans and leases collectively evaluated for impairment 34,780 40,780 2,439 54,483 2,116 13,571 19,347 2,269 34,956 204,741 Total allowance for loan and lease losses $ 35,270 $ 43,451 $ 2,481 $ 55,620 $ 2,221 $ 15,472 $ 21,862 $ 2,350 $ 35,841 $ 214,568 Loans and leases: Loans and leases individually evaluated for impairment $ 2,175 $ 55,447 $ 860 $ 9,868 $ 291 $ 42,168 $ 28,852 $ 3,749 $ 3,020 $ 146,430 Loans and leases collectively evaluated for impairment 755,679 10,661,787 426,125 3,928,862 296,133 4,223,519 2,514,123 253,281 1,710,761 24,770,270 Total loan and leases $ 757,854 $ 10,717,234 $ 426,985 $ 3,938,730 $ 296,424 $ 4,265,687 $ 2,542,975 $ 257,030 $ 1,713,781 $ 24,916,700 Activity in the PCI allowance and balances for years ended December 31, 2019 , 2018 and 2017 is summarized as follows: (Dollars in thousands) 2019 2018 2017 Allowance for loan losses: Balance at January 1 $ 9,144 $ 10,026 $ 13,769 Provision credits (1,608 ) (765 ) (3,447 ) Charge-offs — (117 ) (296 ) Recoveries — — — Balance at December 31 $ 7,536 $ 9,144 $ 10,026 The following table presents the PCI allowance and recorded investment in loans at December 31, 2019 and 2018 . (Dollars in thousands) December 31, 2019 December 31, 2018 Allowance for loan losses: ALLL for loans acquired with deteriorated credit quality $ 7,536 $ 9,144 Loans acquired with deteriorated credit quality 558,716 606,576 At December 31, 2019 and 2018 , $139.4 million and $186.6 million , respectively, in PCI loans experienced an adverse change in expected cash flows since the date of acquisition. The corresponding valuation reserve was $7.5 million and $9.1 million , respectively. The following tables present the recorded investment and related allowance in non-PCI impaired loans and leases by class of loans, as well as the unpaid principle balance. December 31, 2019 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Commercial: Construction and land development $ 1,851 $ 2,804 $ 4,655 $ 5,109 $ 463 Commercial mortgage 42,394 27,755 70,149 74,804 3,650 Other commercial real estate 318 950 1,268 1,360 39 Commercial and industrial and leases 7,547 4,635 12,182 13,993 1,379 Other 406 233 639 661 103 Total commercial loans 52,516 36,377 88,893 95,927 5,634 Noncommercial: Residential mortgage 48,796 11,646 60,442 64,741 3,278 Revolving mortgage 26,104 2,765 28,869 31,960 2,722 Construction and land development 2,470 1,412 3,882 4,150 174 Consumer 3,472 41 3,513 3,821 1,107 Total noncommercial loans $ 80,842 $ 15,864 $ 96,706 $ 104,672 $ 7,281 Total non-PCI impaired loans and leases $ 133,358 $ 52,241 $ 185,599 $ 200,599 $ 12,915 December 31, 2018 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Commercial: Construction and land development $ 1,897 $ 278 $ 2,175 $ 2,606 $ 490 Commercial mortgage 34,177 21,270 55,447 61,317 2,671 Other commercial real estate 243 617 860 946 42 Commercial and industrial and leases 7,153 2,715 9,868 14,695 1,137 Other 216 75 291 301 105 Total commercial loans 43,686 24,955 68,641 79,865 4,445 Noncommercial: Residential mortgage 40,359 1,809 42,168 45,226 1,901 Revolving mortgage 25,751 3,101 28,852 31,371 2,515 Construction and land development 2,337 1,412 3,749 4,035 81 Consumer 2,940 80 3,020 3,405 885 Total noncommercial loans 71,387 6,402 77,789 84,037 5,382 Total non-PCI impaired loans and leases $ 115,073 $ 31,357 $ 146,430 $ 163,902 $ 9,827 Non-PCI impaired loans less than $500,000 that were collectively evaluated were $41.0 million and $47.1 million at December 31, 2019 , and 2018 , respectively. The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the years ended December 31, 2019 , 2018 and 2017 : 2019 2018 2017 (Dollars in thousands) Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized Non-PCI impaired loans and leases: Commercial: Construction and land development $ 3,915 $ 53 $ 1,734 $ 84 $ 858 $ 37 Commercial mortgage 64,363 2,188 65,943 2,569 73,815 2,596 Other commercial real estate 919 27 1,225 43 1,642 34 Commercial and industrial and leases 11,884 482 9,560 364 11,600 427 Other 396 11 135 3 426 22 Total commercial 81,477 2,761 78,597 3,063 88,341 3,116 Noncommercial: Residential mortgage 52,045 1,386 41,368 1,237 33,818 990 Revolving mortgage 29,516 1,009 26,759 900 14,022 436 Construction and land development 3,589 116 3,677 172 3,383 145 Consumer 3,311 138 2,722 116 2,169 103 Total noncommercial 88,461 2,649 74,526 2,425 53,392 1,674 Total non-PCI impaired loans and leases $ 169,938 $ 5,410 $ 153,123 $ 5,488 $ 141,733 $ 4,790 Troubled Debt Restructurings BancShares accounts for certain loan modifications or restructurings as TDRs. In general, the modification or restructuring of a loan is considered a TDR if, for economic or legal reasons related to a borrower’s financial difficulties, a concession is granted to the borrower that creditors would not otherwise consider. Concessions may relate to the contractual interest rate, maturity date, payment structure or other actions. The majority of TDRs are included in the special mention, substandard or doubtful credit quality indicators, which results in more elevated loss expectations when projecting the expected cash flows used to determine the allowance for loan losses associated with these loans. The lower the credit quality indicator, the lower the estimated expected cash flows and the greater the allowance recorded. All TDRs are individually evaluated for impairment through review of collateral values or analysis of cash flows at least annually. The following table provides a summary of total TDRs by accrual status. Total TDRs at December 31, 2019 , were $171.2 million , of which $154.0 million were non-PCI and $17.2 million were PCI. Total TDRs at December 31, 2018 , were $156.1 million , of which $137.9 million were non-PCI and $18.2 million were PCI. Total TDRs at December 31, 2017 , were $164.6 million , of which $146.1 million were non-PCI and $18.5 million were PCI. December 31, 2019 December 31, 2018 December 31, 2017 (Dollars in thousands) Accruing Nonaccruing Total Accruing Nonaccruing Total Accruing Nonaccruing Total Commercial loans: Construction and land development $ 487 $ 2,279 $ 2,766 $ 1,946 $ 352 $ 2,298 $ 4,089 $ 483 $ 4,572 Commercial mortgage 50,819 11,116 61,935 53,270 7,795 61,065 62,358 15,863 78,221 Other commercial real estate 571 — 571 851 9 860 1,012 788 1,800 Commercial and industrial and leases 9,430 2,409 11,839 7,986 2,060 10,046 8,320 1,958 10,278 Other 320 105 425 118 173 291 521 — 521 Total commercial loans 61,627 15,909 77,536 64,171 10,389 74,560 76,300 19,092 95,392 Noncommercial: Residential mortgage 41,813 16,048 57,861 37,903 9,621 47,524 34,067 9,475 43,542 Revolving mortgage 21,032 7,367 28,399 20,492 8,196 28,688 17,673 5,180 22,853 Construction and land development 1,452 2,430 3,882 2,227 110 2,337 — — — Consumer 2,826 688 3,514 2,300 721 3,021 2,351 423 2,774 Total noncommercial loans 67,123 26,533 93,656 62,922 18,648 81,570 54,091 15,078 69,169 Total loans $ 128,750 $ 42,442 $ 171,192 $ 127,093 $ 29,037 $ 156,130 $ 130,391 $ 34,170 $ 164,561 The following tables provide the types of TDRs made during the years ended December 31 , 2019 , 2018 and 2017 , as well as a summary of loans that were modified as a TDR during the years ended December 31 , 2019 , 2018 and 2017 that subsequently defaulted during the years ended December 31 , 2019 , 2018 and 2017 . BancShares defines payment default as movement of the TDR to nonaccrual status, which is generally 90 days past due, foreclosure or charge-off, whichever occurs first. 2019 2018 2017 All restructurings Restructurings with payment default All restructurings Restructurings with payment default All restructurings Restructurings with payment default Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end (Dollars in thousands) Loans and leases Interest only period provided Commercial loans 11 $ 1,595 1 $ 238 3 $ 1,003 — $ — 5 $ 1,124 1 $ 634 Noncommercial loans 7 4,018 2 2,717 — — — — 1 82 — — Total interest only 18 5,613 3 2,955 3 1,003 — — 6 1,206 1 634 Loan term extension Commercial loans 16 3,904 5 533 21 3,933 4 675 13 3,007 — — Noncommercial loans 2 342 1 306 21 1,554 4 190 34 3,510 2 273 Total loan term extension 18 4,246 6 839 42 5,487 8 865 47 6,517 2 273 Below market interest rate Commercial loans 90 13,932 24 2,634 85 12,859 24 2,998 92 14,811 32 3,392 Noncommercial loans 176 12,458 66 4,014 184 15,545 68 5,461 271 15,601 78 4,591 Total below market interest rate 266 26,390 90 6,648 269 28,404 92 8,459 363 30,412 110 7,983 Discharged from bankruptcy Commercial loans 25 5,571 20 5,028 26 2,043 8 825 39 3,012 26 708 Noncommercial loans 178 10,349 71 4,239 151 6,617 56 3,169 177 7,853 65 2,392 Total discharged from bankruptcy 203 15,920 91 9,267 177 8,660 64 3,994 216 10,865 91 3,100 Total restructurings 505 $ 52,169 190 $ 19,709 491 $ 43,554 164 $ 13,318 632 $ 49,000 204 $ 11,990 |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | PREMISES AND EQUIPMENT Major classifications of premises and equipment at December 31, 2019 and 2018 are summarized as follows: (Dollars in thousands) Useful Life ( years ) 2019 2018 Land indefinite $ 335,093 $ 306,734 Premises and leasehold improvements 3 - 40 1,228,588 1,228,582 Furniture, equipment and software 3 - 10 595,686 560,923 Total 2,159,367 2,096,239 Less accumulated depreciation and amortization 914,971 892,060 Total premises and equipment $ 1,244,396 $ 1,204,179 Depreciation and amortization expense was $103.8 million , $96.8 million and $90.8 million for the years ended December 31, 2019 , 2018 and 2017 |
Other Real Estate Owned
Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Other Real Estate Owned | OTHER REAL ESTATE OWNED (“OREO”) The following table explains changes in other real estate owned during 2019 and 2018 . (Dollars in thousands) OREO Balance at January 1, 2018 $ 51,097 Additions 24,997 Acquired in business combinations 4,454 Sales (28,128 ) Write-downs/losses (4,390 ) Balance at December 31, 2018 48,030 Additions 21,684 Acquired in business combinations 5,459 Sales (24,432 ) Write-downs/losses (4,150 ) Balance at December 31, 2019 $ 46,591 At December 31, 2019 and 2018 , BancShares had $14.5 million and $17.2 million , respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure was $23.0 million and $22.0 million at December 31, 2019 , and 2018 , respectively. Gains recorded on the sale of OREO were $1.5 million and $1.2 million for the years ended December 31, 2019 and 2018, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill BancShares’ annual impairment test, conducted as of July 31 each year, or more frequently if events occur or circumstances change that may trigger a decline in the value of the reporting unit or otherwise indicate that a potential impairment exists, resulted in no indication of goodwill impairment. Subsequent to the annual impairment test, there were no events or changes in circumstances that would indicate goodwill should be tested for impairment during the interim period between annual tests. No goodwill impairment was recorded during 2019 or 2018 . The following table presents the changes in the carrying amount of goodwill as of December 31, 2019 and 2018 : Year ended December 31 (Dollars in thousands) 2019 2018 Beginning Balance $ 236,347 $ 150,601 Recognized in the Biscayne Bancshares acquisition 46,521 — Recognized in the First South Bancorp acquisition 13,896 — Recognized in the Entegra acquisition 52,634 — Recognized in HomeBancorp acquisition — 57,616 Recognized in Capital Commerce acquisition — 10,680 Recognized in Palmetto Heritage acquisition — 17,450 Balance at December 31 $ 349,398 $ 236,347 Other Intangible Assets Other intangible assets include mortgage servicing rights on loans sold to third parties with servicing retained, core deposit intangibles which represent the estimated fair value of acquired core deposits and other customer relationships, and other servicing rights acquired. Mortgage Servicing Rights (“MSRs”) Our portfolio of residential mortgage loans serviced for third parties was $3.38 billion , $2.95 billion and $2.81 billion as of December 31, 2019 , 2018 and 2017 , respectively. The majority of these loans were originated by BancShares and sold to third parties on a non-recourse basis with servicing rights retained. At December 31, 2019 , a portion of the MSRs were related to Entegra originations prior to acquisition. These retained servicing rights are recorded as a servicing asset and reported in other intangible assets. The mortgage servicing rights are initially recorded at fair value and then carried at the lower of amortized cost or fair market value. The amortization expense related to mortgage servicing rights is included as a reduction of mortgage income. The activity of the mortgage servicing asset for the years ended December 31, 2019 , 2018 and 2017 is presented in the following table: (Dollars in thousands) 2019 2018 2017 Balance at January 1 $ 21,396 $ 21,945 $ 20,415 Servicing rights originated 6,149 5,258 7,174 Servicing rights acquired in Entegra transaction 1,873 — — Amortization (6,233 ) (5,807 ) (5,648 ) Valuation allowance (increase) decrease (222 ) — 4 Balance at December 31 $ 22,963 $ 21,396 $ 21,945 Contractually specified mortgage servicing fees, late fees and ancillary fees earned for the years ended December 31, 2019 , 2018 and 2017 , were $7.9 million , $7.5 million and $7.1 million , respectively, and reported in mortgage income. BancShares recorded valuation allowance provision expense of $222 thousand , no provision expense, and a $4 thousand provision reversal in the years ended December 31, 2019 , 2018 and 2017 , respectively. Valuation of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and evaluated on a discounted earnings basis to determine the present value of future earnings. Key economic assumptions used to value mortgage servicing rights as of December 31, 2019 and 2018 , were as follows: 2019 2018 Discount rate - conventional fixed loans 8.92 % 9.69 % Discount rate - all loans excluding conventional fixed loans 9.92 % 10.69 % Weighted average constant prepayment rate 13.72 % 9.26 % Weighted average cost to service a loan $ 87.09 $ 87.52 The discount rate is based on the 10-year U.S. Treasury rate plus 700 basis points for conventional fixed loans and 800 basis points for all other loans. The 700 and 800 basis points are used as a risk premium when calculating the discount rate. The prepayment rate is derived from the Public Securities Association Standard Prepayment model, which compared to actual prepayment rates annually for reasonableness. The average cost to service a loan is based on the number of loans serviced and the total costs to service the loans. Core Deposit Intangibles Core deposit intangibles represent the estimated fair value of core deposits and other customer relationships acquired. They are being amortized on an accelerated basis over their estimated useful lives. The weighted average useful life of core deposit intangibles acquired in 2019 is 10.2 years . The following information relates to core deposit intangible assets, which are being amortized over their estimated useful lives: (Dollars in thousands) 2019 2018 Balance at January 1 $ 48,232 $ 51,151 Acquired in Biscayne Bancshares transaction 4,745 — Acquired in First South Bancorp transaction 2,268 — Acquired in Entegra transaction 4,487 — Acquired in the HomeBancorp transaction — 9,860 Acquired in the Capital Commerce transaction — 2,680 Acquired in the Palmetto Heritage transaction — 1,706 Amortization (16,346 ) (17,165 ) Balance at December 31 $ 43,386 $ 48,232 The gross amount of core deposit intangible assets and accumulated amortization as of December 31, 2019 and 2018 , are: (Dollars in thousands) 2019 2018 Gross balance $ 154,507 $ 143,007 Accumulated amortization (111,121 ) (94,775 ) Carrying value $ 43,386 $ 48,232 Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for core deposit intangibles in subsequent periods will be: (Dollars in thousands) 2020 $ 14,165 2021 10,850 2022 7,658 2023 5,056 2024 and subsequent 5,657 $ 43,386 Miscellaneous Intangibles Other servicing rights were acquired as part of a business combination and relate to the sale of the guaranteed portion of government guaranteed loans with servicing retained. The amount of the other servicing rights were $1.9 million and $2.7 million at December 31, 2019 , and 2018 , respectively. The amortization related to other servicing rights is recorded in other noninterest income. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Deposits | DEPOSITS Deposits at December 31, 2019 and 2018 were as follows: (Dollars in thousands) 2019 2018 Demand $ 12,926,796 $ 11,882,670 Checking with interest 5,782,967 5,338,511 Money market accounts 9,319,087 8,194,818 Savings 2,564,777 2,499,750 Time 3,837,609 2,756,711 Total deposits $ 34,431,236 $ 30,672,460 Time deposits with a denomination of $250,000 or more were $891.2 million and $567.3 million at December 31, 2019 and 2018 , respectively. At December 31, 2019 , the scheduled maturities of time deposits were: (Dollars in thousands) Year ended December 31 2020 $ 2,971,410 2021 306,490 2022 386,094 2023 106,782 2024 49,453 Thereafter 17,380 Total time deposits $ 3,837,609 |
FDIC Shared-Loss Payable
FDIC Shared-Loss Payable | 12 Months Ended |
Dec. 31, 2019 | |
FDIC Shared-Loss Receivable [Abstract] | |
Receivable from FDIC for Loss Share Agreements | FDIC SHARED-LOSS PAYABLE At December 31, 2019 , shared-loss protection remains for single family residential loans acquired in the amount of $44.8 million . The shared-loss agreements for two FDIC-assisted transactions include provisions related to payments owed to the FDIC at the termination of the agreements if actual cumulative losses on covered assets are lower than originally estimated by the FDIC at the time of acquisition (“clawback liability”). As of December 31, 2019 and 2018 , the estimated clawback liability was $112.4 million and $105.6 million , respectively. The clawback liability payment dates are March 2020 and March 2021. The following table provides changes in the FDIC shared-loss payable for the years ended December 31, 2019 and 2018 . (Dollars in thousands) 2019 2018 Beginning balance $ 105,618 $ 101,342 Accretion 6,777 4,023 Adjustments related to changes in assumptions — 253 Ending balance $ 112,395 $ 105,618 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Borrowings | BORROWINGS Short-term Borrowings Short-term borrowings at December 31, 2019 and 2018 are as follows: (Dollars in thousands) 2019 2018 Securities sold under customer repurchase agreements $ 442,956 $ 543,936 Notes payable to FHLB of Atlanta 255,000 28,500 Other short-term debt 40,277 — Unamortized purchase accounting adjustments (1) — (149 ) Total short-term borrowings $ 738,233 $ 572,287 (1) At December 31, 2018, unamortized purchase accounting adjustments were $149 thousand for FHLB borrowings. At December 31, 2019 , BancShares had unused credit lines allowing contingent access to overnight borrowings of up to $582.7 million on an unsecured basis. Additionally, under borrowing arrangements with the FRB of Richmond and FHLB of Atlanta, BancShares has access to an additional $8.99 billion on a secured basis. Repurchase Agreements BancShares utilizes securities sold under agreements to repurchase to facilitate the needs of customers and secure wholesale funding needs. Repurchase agreements are transactions whereby BancShares offers to sell to a counterparty an undivided interest in an eligible security at an agreed upon purchase price, and which obligates BancShares to repurchase the security at an agreed upon date, repurchase price and interest rate. These agreements are recorded at the amount of cash received in connection with the transaction and are reflected as securities sold under customer repurchase agreements. BancShares monitors collateral levels on a continuous basis and maintains records of each transaction specifically describing the applicable security and the counterparty’s fractional interest in that security, and segregates the security from general assets in accordance with regulations governing custodial holdings of securities. The primary risk with repurchase agreements is market risk associated with the investments securing the transactions, as additional collateral may be required based on fair value changes of the underlying investments. Securities pledged as collateral under repurchase agreements are maintained with safekeeping agents. The carrying value of available for sale investment securities pledged as collateral under repurchase agreements was $477.6 million and $598.6 million at December 31, 2019 and December 31, 2018 , respectively. BancShares held securities sold under agreements to repurchase of $443.0 million at December 31, 2019 , with overnight and continuous remaining contractual maturities collateralized by government agency securities and $543.9 million at December 31, 2018 , with overnight and continuous remaining contractual maturities collateralized by U.S Treasury securities. Long-term Borrowings Long-term borrowings at December 31, 2019 and 2018 include: (Dollars in thousands) 2019 2018 Junior subordinated debenture at 3-month LIBOR plus 1.75% maturing June 30, 2036 $ 88,145 $ 88,145 Junior subordinated debenture at 3-month LIBOR plus 2.25% maturing June 15, 2034 19,588 19,588 Junior subordinated debenture at 3-month LIBOR plus 2.85% maturing April 7, 2034 10,310 10,310 Junior subordinated debenture at 3-month LIBOR plus 2.00% maturing July 7, 2036 — 4,124 Junior subordinated debentures at 3-month LIBOR plus 2.80% maturing March 30, 2034 14,433 — Junior subordinated debentures at 7.00% maturing December 31, 2026 20,000 20,000 Junior subordinated debentures at 6.50% maturing October 1, 2025 7,500 — Junior subordinated debentures at 7.13% maturing February 25, 2025 5,000 — Obligations under capitalized leases extending to December 2050 8,230 13,160 Notes payable to FHLBs of Atlanta and Chicago with rates ranging from 0.75% to 3.17% and maturing through March 2032 317,191 165,205 Unsecured term loan at 1-month LIBOR plus 1.10% maturing September 5, 2022 96,425 — Unamortized purchase accounting adjustments (1) (1,569 ) (1,426 ) Other long-term debt 3,385 761 Total long-term obligations $ 588,638 $ 319,867 (1) At December 31, 2019, unamortized purchase accounting adjustments were $1.6 million for subordinated debentures and $6 thousand for FHLB advances. At December 31, 2018, unamortized purchase accounting adjustments were $1.4 million for subordinated debentures. At December 31, 2019 and 2018 , BancShares recorded $132.5 million and $122.2 million , respectively, in junior subordinated debentures representing obligations to FCB/NC Capital Trust III, FCB/SC Capital Trust II, SCB Capital Trust I, CCBI Capital Trust I and Macon Capital Trust I special purpose entities and grantor trusts (“the Trusts”) for trust preferred securities. The Trusts had outstanding trust preferred securities of $128.5 million and $118.5 million at December 31, 2019 and 2018 , respectively, which mature in 2036, 2034, 2034, 2036 and 2034, respectively, and may be redeemed at par in whole or in part at any time. BancShares has guaranteed all obligations of its subsidiaries, FCB Capital Trust III and FCB/SC Capital Trust II. FCB has guaranteed all obligations of its trust subsidiaries, SCB Capital Trust I, CCBI Capital Trust I and Macon Capital Trust I. Macon Capital Trust I was acquired from Entegra during the fourth quarter of 2019 and has a related obligation of $14.4 million. CCBI Capital Trust I was acquired from Capital Commerce during the fourth quarter of 2018 and was fully redeemed, in whole, during 2019. Long-term obligations included $32.5 million and $20.0 million at December 31, 2019 and 2018 , respectively, of junior subordinated debentures maturing through 2026, assumed in the Biscayne Bancshares and HomeBancorp acquisitions. Long-term borrowings maturing in each of the five years subsequent to December 31, 2019 and thereafter include: Year ended December 31 2020 $ 61,995 2021 13,332 2022 114,138 2023 125,500 2024 6,526 Thereafter 267,147 Total long-term borrowings $ 588,638 |
Shareholders' Equity, Dividends
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters | 12 Months Ended |
Dec. 31, 2019 | |
Regulatory Capital Requirements [Abstract] | |
Shareholders' Equity, Dividend Restrictions and Other Regulatory Matters | SHAREHOLDERS’ EQUITY, DIVIDEND RESTRICTIONS AND OTHER REGULATORY MATTERS BancShares and FCB are required to meet minimum capital requirements set forth by regulatory authorities. Certain activities such as, the ability to undertake new business initiatives, including acquisitions, the access to and cost of funding for new business initiatives, the ability to pay dividends, the ability to repurchase shares or other capital instruments, the level of deposit insurance costs, and the level and nature of regulatory oversight depend, in large part, on a financial institution’s capital strength. Bank regulatory agencies approved regulatory capital guidelines (“Basel III”) aimed at strengthening existing capital requirements for banking organizations. Basel III became effective for BancShares on January 1, 2015. Under Basel III, requirements include a common equity Tier 1 ratio minimum of 4.50% , Tier 1 risk-based capital minimum of 6.00% , total risk-based capital ratio minimum of 8.00% and Tier 1 leverage capital ratio minimum of 4.00% . Failure to meet minimum capital requirements may result in certain actions by regulators that could have a direct, material effect on the consolidated financial statements. Basel III also introduced a capital conservation buffer in addition to the regulatory minimum capital requirements which was phased in annually over four years beginning January 1, 2016, at 0.625% of risk-weighted assets and increasing each subsequent year by an additional 0.625% . At January 1, 2018, the capital conservation buffer was 1.875% . As fully phased in on January 1, 2019, the capital conservation buffer is 2.50% . Based on the most recent notifications from its regulators, BancShares and FCB is well-capitalized under the regulatory framework for prompt corrective action. As of December 31, 2019 , BancShares and FCB met all capital adequacy requirements to which they are subject and were not aware of any conditions or events that would affect each entity’s well-capitalized status. Following is an analysis of capital ratios under Basel III guidelines for BancShares and FCB as of December 31, 2019 and 2018 : December 31, 2019 December 31, 2018 (Dollars in thousands) Requirements to be well-capitalized Amount Ratio Amount Ratio BancShares Tier 1 risk-based capital 8.00 % $ 3,344,305 10.86 % $ 3,463,307 12.67 % Common equity Tier 1 6.50 3,344,305 10.86 3,463,307 12.67 Total risk-based capital 10.00 3,731,501 12.12 3,826,626 13.99 Leverage capital 5.00 3,344,305 8.81 3,463,307 9.77 FCB Tier 1 risk-based capital 8.00 3,554,974 11.54 3,315,742 12.17 Common equity Tier 1 6.50 3,554,974 11.54 3,315,742 12.17 Total risk-based capital 10.00 3,837,670 12.46 3,574,561 13.12 Leverage capital 5.00 3,554,974 9.38 3,315,742 9.39 BancShares and FCB had capital conservation buffers of 4.12% and 4.46% , respectively, at December 31, 2019 . These buffers exceeded the 2.50% requirement, and therefore, result in no limit on distributions. At December 31, 2019 , Tier 2 capital of BancShares included $128.5 million of trust preferred capital securities and $32.5 million of qualifying subordinated debentures, compared to $118.5 million of trust preferred capital securities and $20.0 million of qualifying subordinated debentures included at December 31, 2018 . BancShares has two classes of common stock—Class A common and Class B common shares. Shares of Class A common have one vote per share, while shares of Class B common have 16 votes per share. On January 28, 2020, the Board authorized share repurchases of up to 500,000 of BancShares’ Class A common stock for the period February 1, 2020 through April 30, 2020. This authority will supersede all previously approved authorities. During 2019, BancShares repurchased a total of 998,910 shares of Class A common stock, or 9.4% of outstanding shares of as of December 31, 2018, for $450.8 million at an average cost per share of $451.33 . During 2018 , BancShares repurchased a total of 382,000 shares of Class A common stock, or 3.5% of outstanding shares of as of December 31, 2017, for $165.3 million at an average cost per share of $432.78 . All share repurchases were executed under previously approved authorities. Subsequent to year-end through February 14, 2020, BancShares repurchased an additional 120,990 shares of Class A common stock for $63.8 million at an average cost per share of $527.27 The Board of Directors of FCB may approve distributions, including dividends, as it deems appropriate, subject to the requirements of the FDIC and the General Statutes of North Carolina, provided that the distributions do not reduce capital below applicable capital requirements. As of December 31, 2019 , the maximum amount of distributions was limited to $651.7 million to preserve well-capitalized status. Dividends declared by FCB and paid to BancShares amounted to $149.8 million in 2019 , $242.9 million in 2018 and $50.4 million in 2017 . Payment of dividends is made at the discretion of the Board of Directors and is contingent upon satisfactory earnings as well as projected future capital needs. BancShares’ principal source of liquidity for payment of shareholder dividends is the dividend it receives from FCB. BancShares and FCB are subject to various requirements imposed by state and federal banking statutes and regulations, including regulations requiring the maintenance of reserve balances at the Federal Reserve Bank. Banks are allowed to reduce the required balances by the amount of vault cash. For 2019 , the requirements averaged $730.7 million . |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss | ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME Accumulated other comprehensive loss included the following at December 31, 2019 and 2018 : December 31, 2019 December 31, 2018 (Dollars in thousands) Accumulated other comprehensive income (loss) Deferred tax expense (benefit) Accumulated other comprehensive loss, net of tax Accumulated Deferred Accumulated other comprehensive loss, net of tax Unrealized gains (losses) on securities available for sale $ 7,522 $ 1,730 $ 5,792 $ (50,007 ) $ (11,502 ) $ (38,505 ) Unrealized losses on securities available for sale transferred from (to) held to maturity — — — (92,401 ) (21,252 ) (71,149 ) Defined benefit pension items (172,098 ) (39,583 ) (132,515 ) (163,030 ) (37,497 ) (125,533 ) Total $ (164,576 ) $ (37,853 ) $ (126,723 ) $ (305,438 ) $ (70,251 ) $ (235,187 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2019 and 2018 : (Dollars in thousands) Unrealized gains (losses) on securities available-for-sale (1) Unrealized losses on securities available for sale transferred from (to) held to maturity (1)(2) Defined benefit pension items (1) Total Balance at January 1, 2018 $ (30,945 ) $ — $ (91,349 ) $ (122,294 ) Cumulative effect adjustments (3) (29,751 ) — (20,300 ) (50,051 ) Adjusted beginning balance (60,696 ) — (111,649 ) (172,345 ) Net unrealized gains (losses) arising during period 22,461 (84,321 ) (24,649 ) (86,509 ) Amounts reclassified from accumulated other comprehensive loss (270 ) 13,172 10,765 23,667 Net current period other comprehensive income (loss) 22,191 (71,149 ) (13,884 ) (62,842 ) Balance at December 31, 2018 (38,505 ) (71,149 ) (125,533 ) (235,187 ) Net unrealized gains (losses) arising during period 49,776 55,834 (15,438 ) 90,172 Amounts reclassified from accumulated other comprehensive loss (5,479 ) 15,315 8,456 18,292 Net current period other comprehensive income (loss) 44,297 71,149 (6,982 ) 108,464 Balance at December 31, 2019 $ 5,792 $ — $ (132,515 ) $ (126,723 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. (2) Net unrealized gains (losses) represent unrealized gains and losses related to the reclassification of investment securities between categories. See Note C, Investments, for additional information. (3) Cumulative adjustments for adoption of ASU 2018-02 of $31.3 million and ASU 2016-01 of $18.7 million. The following table presents the amounts reclassified from accumulated other comprehensive (loss) income and the line item affected in the statement where net income is presented for years ended December 31, 2019 and 2018 : (Dollars in thousands) Year ended December 31, 2019 Details about accumulated other comprehensive (loss) income Amount reclassified from accumulated other comprehensive (loss) income (1) Affected line item in the statement where net income is presented Unrealized gains on available for sale securities $ 7,115 Realized gains on investment securities available for sale, net (1,636 ) Income taxes $ 5,479 Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (19,889 ) Net interest income 4,574 Income taxes $ (15,315 ) Amortization of defined benefit pension items Prior service costs $ (57 ) Salaries and wages Actuarial losses (10,924 ) Other (10,981 ) Income before income taxes 2,525 Income taxes $ (8,456 ) Total reclassifications for the period $ (18,292 ) Year ended December 31, 2018 Details about accumulated other comprehensive (loss) income Amount reclassified from accumulated other comprehensive (loss) income (1) Affected line item in the statement where net income is presented Unrealized gains on available for sale securities $ 351 Realized gains on investment securities available for sale, net (81 ) Income taxes $ 270 Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (17,106 ) Net interest income 3,934 Income taxes $ (13,172 ) Amortization of defined benefit pension items Prior service costs $ (79 ) Salaries and wages Actuarial losses (13,902 ) Other (13,981 ) Income before income taxes 3,216 Income taxes $ (10,765 ) Total reclassifications for the period $ (23,667 ) (1) Amounts in parentheses indicate debits to profit/loss. |
Other Noninterest Income and Ot
Other Noninterest Income and Other Noninterest Expense | 12 Months Ended |
Dec. 31, 2019 | |
Noninterest Expense [Abstract] | |
Other Noninterest Income and Other Noninterest Expense | OTHER NONINTEREST INCOME AND OTHER NONINTEREST EXPENSE Other noninterest income for the years ended December 31, 2019, 2018 and 2017 was $18.4 million , $19.7 million and $29.1 million , respectively. The most significant item in other noninterest income was recoveries on PCI loans previously charged-off. BancShares records the portion of recoveries related to loans and leases written off prior to the closing of an acquisition as noninterest income rather than as an adjustment to the allowance for loan losses. These recoveries were $17.4 million , $16.6 million and $21.1 million for the years ended December 31, 2019, 2018 and 2017 , respectively. Charge-offs on PCI loans are recorded against the discount recognized on the date of acquisition versus through the allowance for loan losses unless an allowance was established subsequent to the acquisition date due to declining expected cash flow. Other noninterest income also includes FHLB dividends and other various income items. Other noninterest expense for the years ended December 31, 2019, 2018 and 2017 included the following: (Dollars in thousands) 2019 2018 2017 Core deposit intangible amortization $ 16,346 $ 17,165 $ 17,194 Consultant expense 12,801 14,345 14,963 Advertising 11,437 11,650 11,227 Telecommunications expense 9,391 10,471 12,172 Other 89,308 93,432 86,874 Total other noninterest expense $ 139,283 $ 147,063 $ 142,430 Other expense consists of miscellaneous expenses including travel, postage, supplies, appraisal expense and other operational losses. Advertising expense related to non-direct response advertisements are expensed as incurred. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES At December 31, 2019 , 2018 and 2017 income tax expense consisted of the following: (Dollars in thousands) 2019 2018 2017 Current tax expense Federal $ 68,984 $ 95,151 $ 87,992 State 11,095 21,523 6,116 Total current tax expense 80,079 116,674 94,108 Deferred tax expense (benefit) Federal 50,522 (10,944 ) 115,392 State 4,076 (2,433 ) 10,446 Total deferred tax expense (benefit) 54,598 (13,377 ) 125,838 Total income tax expense $ 134,677 $ 103,297 $ 219,946 Income tax expense differed from the amounts computed by applying the statutory federal income tax rate of 21% for 2019 and 2018 and 35% for 2017 to pretax income as a result of the following: (Dollars in thousands) 2019 2018 2017 Income taxes at federal statutory rates $ 124,330 $ 105,758 $ 190,294 Increase (reduction) in income taxes resulting from: Nontaxable income on loans, leases and investments, net of nondeductible expenses (1,639 ) (1,796 ) (2,525 ) Excess tax benefits of compensation 1,070 371 — State and local income taxes, including any change in valuation allowance, net of federal income tax benefit 11,985 15,081 10,765 Effect of federal rate change — (15,736 ) 25,762 Tax credits net of amortization (4,474 ) (2,891 ) (4,840 ) Other, net 3,405 2,510 490 Total income tax expense $ 134,677 $ 103,297 $ 219,946 The net deferred tax asset included the following components at December 31, 2019 , and 2018 : (Dollars in thousands) 2019 2018 Allowance for loan and lease losses $ 53,073 $ 53,391 Operating lease liabilities 17,752 — Executive separation from service agreements 12,334 7,927 Net operating loss carryforwards 11,085 6,862 Net unrealized loss included in comprehensive income — 32,663 Employee compensation 13,313 11,145 FDIC assisted transactions timing differences 8,678 7,622 Other reserves 5,001 5,574 Other 10,698 9,555 Deferred tax asset 131,934 134,739 Accelerated depreciation 51,249 4,987 Lease financing activities 8,101 12,674 Operating lease assets 17,837 — Net unrealized gain on securities included in accumulated other comprehensive loss 1,821 — Net deferred loan fees and costs 11,781 10,651 Intangible assets 9,148 11,713 Security, loan and debt valuations 5,767 4,557 Pension liability 5,079 6,287 Other 15,993 1,722 Deferred tax liability 126,776 52,591 Net deferred tax asset $ 5,158 $ 82,148 At December 31, 2019 , $48.3 million of existing gross deferred tax assets related to federal net operating loss carryforwards and $24.6 million to state net operating loss carryforwards which expire in years beginning in 2024. The net operating losses were obtained through various acquisitions and are subject to the annual limitations set forth by Internal Revenue Code Section 382. No valuation allowance was necessary as of December 31, 2019 and 2018, to reduce BancShares’ gross deferred tax asset to the amount more likely than not to be realized. BancShares regularly adjusts its net deferred tax asset as a result of changes in tax rates in the state where it files tax returns. These changes in tax rates did not have a material impact on tax expense in 2019, 2018, or 2017. BancShares’ and its subsidiaries’ federal income tax returns for 2016 through 2018 remain open for examination. Generally, BancShares is no longer subject to examination by state and local taxing authorities for taxable years prior to 2014. The following table provides a rollforward of BancShares’ gross unrecognized tax benefits, excluding interest and penalties, during the years ended December 31 , 2019 , 2018 and 2017 : (Dollars in thousands) 2019 2018 2017 Unrecognized tax benefits at the beginning of the year $ 28,255 $ 29,004 $ 28,879 Reductions related to tax positions taken in prior year (683 ) (1,054 ) (44 ) Additions related to tax positions taken in current year 6,554 1,433 169 Reductions related to lapse of statute of limitations (1,900 ) (1,128 ) — Unrecognized tax benefits at the end of the year $ 32,226 $ 28,255 $ 29,004 All of the unrecognized tax benefits, if recognized, would affect BancShares’ effective tax rate. BancShares has unrecognized tax benefits relating to uncertain state tax positions in North Carolina and other state jurisdictions resulting from tax filings submitted to the states. No tax benefit has been recorded for these uncertain tax positions in the consolidated financial statements. BancShares does not expect the unrecognized tax benefits to change significantly during 2020. BancShares recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. For the years ended December 31, 2019 , 2018 and 2017 , BancShares recorded $429 thousand , $564 thousand and $450 thousand |
Estimated Fair Values
Estimated Fair Values | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values | ESTIMATED FAIR VALUES Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. BancShares estimates fair value using discounted cash flows or other valuation techniques when there is no active market for a financial instrument. Inputs used in these valuation techniques are subjective in nature, involve uncertainties and require significant judgment. Therefore, the derived fair value estimates presented below are not necessarily indicative of the amounts BancShares would realize in a current market exchange. Assets and liabilities are recorded at fair value according to a fair value hierarchy comprised of three levels. The levels are based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The level within the fair value hierarchy for an asset or liability is based on the lowest level of input significant to the fair value measurement with Level 1 inputs considered highest and Level 3 inputs considered lowest. A brief description of each input level follows: • Level 1 inputs are quoted prices in active markets for identical assets and liabilities. • Level 2 inputs are quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices observable for the assets or liabilities and market corroborated inputs. • Level 3 inputs are unobservable inputs for the asset or liability. These unobservable inputs and assumptions reflect estimates market participants would use in pricing the asset or liability. BancShares’ management reviews any changes to its valuation methodologies to ensure they are appropriate and supportable, and refines valuation methodologies as more market-based data becomes available. Transfers between levels of the fair value hierarchy are recognized at the end of the reporting period. The methodologies used to estimate the fair value of financial assets and financial liabilities are discussed below. Investment securities available for sale . The fair value of U.S. Treasury, government agency, mortgage-backed and municipal securities and a portion of our corporate bonds are generally estimated using a third party pricing service. The third party provider evaluates securities based on comparable investments with trades and market data and will utilize pricing models which use a variety of inputs, such as benchmark yields, reported trades, broker-dealer quotes, issuer spreads, benchmark securities, bids and offers as needed. These securities are generally classified as Level 2. The remaining corporate bonds held are generally measured at fair value based on indicative bids from broker-dealers using inputs that are not directly observable. These securities are considered Level 3. Marketable equity securities. Equity securities are measured at fair value using observable closing prices. The valuation also considers the amount of market activity by examining the trade volume of each security. Equity securities are classified as Level 1 if they are traded in an active market and as Level 2 if the observable closing price is from a less than active market. Loans held for sale. Certain residential real estate loans originated to be sold to investors are carried at fair value based on quoted market prices for similar types of loans. Accordingly, the inputs used to calculate fair value of originated residential real estate loans held for sale are considered Level 2 inputs. Portfolio loans subsequently transferred to held for sale to be sold in the secondary market are transferred at fair value. The fair value of the transferred portfolio loans is based on quoted prices and considered Level 1 inputs. Net loans and leases (Non-PCI and PCI). Fair value is estimated based on discounted future cash flows using the current interest rates at which loans with similar terms would be made to borrowers of similar credit quality. The inputs used in the fair value measurements for loans and leases are considered Level 3 inputs. FHLB stock . The carrying amount of FHLB stock is a reasonable estimate of fair value, as these securities are not readily marketable and are evaluated for impairment based on the ultimate recoverability of the par value. BancShares considers positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience, when determining the ultimate recoverability of the par value. BancShares investment in FHLB stock is ultimately recoverable at par. The inputs used in the fair value measurement for the FHLB stock are considered Level 2 inputs. Mortgage and other servicing rights. Mortgage and other servicing rights are carried at the lower of amortized cost or market and are, therefore, carried at fair value only when fair value is less than the amortized cost. The fair value of mortgage and other servicing rights is performed using a pooling methodology. Similar loans are pooled together and a model which relies on discount rates, estimates of prepayment rates and the weighted average cost to service the loans is used to determine the fair value. The inputs used in the fair value measurement for mortgage and other servicing rights are considered Level 3 inputs. Deposits. For non-time deposits, carrying value is a reasonable estimate of fair value. The fair value of time deposits is estimated by discounting future cash flows using the interest rates currently offered for deposits of similar remaining maturities. The inputs used in the fair value measurement for deposits are considered Level 2 inputs. Borrowings. For borrowings, the fair values are determined based on recent trades or sales of the actual security if available. Otherwise, fair values are estimated by discounting future cash flows using current interest rates for similar financial instruments. The inputs used in the fair value measurement for FHLB borrowings, subordinated debentures, and other borrowings are considered Level 2 inputs. Payable to the FDIC for shared-loss agreements. The fair value of the payable to the FDIC for shared-loss agreements is determined by the projected cash flows based on expected payments to the FDIC in accordance with the shared-loss agreements. Cash flows are discounted using current discount rates to reflect the timing of the estimated amounts due to the FDIC. The inputs used in the fair value measurement for the payable to the FDIC are considered Level 3 inputs. Off-balance-sheet commitments and contingencies. Carrying amounts are reasonable estimates of the fair values for such financial instruments. Carrying amounts include unamortized fee income and, in some cases, reserves for any credit losses from those financial instruments. These amounts are not material to BancShares’ financial position. For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of December 31, 2019 and 2018 . The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short-term in nature and there is no interest rate or credit risk that would cause the fair value to differ from the carrying value. Cash and due from banks is classified on the fair value hierarchy as Level 1. Overnight investments, income earned not collected and accrued interest payable are considered Level 2. The table presents the carrying values and estimated fair values for financial instruments as of December 31, 2019 and 2018. December 31, 2019 December 31, 2018 (Dollars in thousands) Carrying value Fair value Carrying value Fair value Cash and due from banks $ 376,719 $ 376,719 $ 327,440 $ 327,440 Overnight investments 1,107,844 1,107,844 797,406 797,406 Investment securities available for sale 7,059,674 7,059,674 4,557,110 4,557,110 Investment securities held to maturity 30,996 30,996 2,184,653 2,201,502 Investment in marketable equity securities 82,333 82,333 92,599 92,599 Loans held for sale 67,869 67,869 45,505 45,505 Net loans and leases 28,656,355 28,878,550 25,299,564 24,845,060 Income earned not collected 123,154 123,154 109,903 109,903 Federal Home Loan Bank stock 43,039 43,039 25,304 25,304 Mortgage and other servicing rights 24,891 26,927 24,066 27,435 Deposits 34,431,236 34,435,789 30,672,460 30,623,214 Securities sold under customer repurchase agreements 442,956 442,956 543,936 543,936 Federal Home Loan Bank borrowings 572,185 577,362 193,556 195,374 Subordinated debentures 163,412 173,685 140,741 151,670 Other borrowings 148,318 149,232 13,921 13,985 FDIC shared-loss payable 112,395 114,252 105,618 105,846 Accrued interest payable 18,124 18,124 3,712 3,712 Among BancShares’ assets and liabilities, investment securities available for sale, marketable equity securities and loans held for sale are reported at their fair values on a recurring basis. For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of December 31, 2019 and 2018 . December 31, 2019 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 409,999 $ — $ 409,999 $ — Government agency 682,772 — 682,772 — Residential mortgage-backed securities 5,267,090 — 5,267,090 — Commercial mortgage-backed securities 380,020 — 380,020 — Corporate bonds 201,566 — 131,881 69,685 State, county and municipal 118,227 — 118,227 — Total investment securities available for sale $ 7,059,674 $ — $ 6,989,989 $ 69,685 Marketable equity securities $ 82,333 $ 29,458 $ 52,875 — Loans held for sale 67,869 — 67,869 — December 31, 2018 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 1,247,710 $ — $ 1,247,710 $ — Government agency 256,835 — 256,835 — Residential mortgage-backed securities 2,909,339 — 2,909,339 — Corporate bonds 143,226 — — 143,226 Total investment securities available for sale $ 4,557,110 $ — $ 4,413,884 $ 143,226 Marketable equity securities $ 92,599 $ 17,887 $ 74,712 $ — Loans held for sale 45,505 — 45,505 — During the year ended December 31, 2019 , $112.6 million of corporate bonds available for sale were transferred from Level 3 to Level 2. The transfers were due to the availability of additional observable inputs for those securities. During the year ended December 31, 2018 , $65.3 million of corporate bonds available for sale were transferred from Level 2 to Level 3. The transfers were due to a lack of observable inputs and trade activity for those securities. The following table summarizes activity for Level 3 assets: December 31, 2019 (Dollars in thousands) Corporate bonds Balance at January 1, 2019 $ 143,226 Purchases (1) 35,993 Unrealized net gains included in other comprehensive income 3,891 Amounts included in net income 174 Transfers out (112,599 ) Sales / Calls (1,000 ) Balance at December 31, 2019 $ 69,685 (1) Includes Corporate bonds of $500 thousand acquired in Entegra transaction. The following table presents quantitative information about Level 3 fair value measurements for fair value on a recurring basis at December 31, 2019 . (Dollars in thousands) December 31, 2019 Level 3 assets Valuation technique Significant unobservable input Fair Value Corporate bonds Indicative bid provided by broker Multiple factors, including but not limited to, current operations, financial condition, cash flows, and recently executed financing transactions related to the issuer $ 69,685 Fair Value Option BancShares has elected the fair value option for residential real estate loans originated to be sold. This election reduces certain timing differences in the Consolidated Statements of Income and better aligns with the management of the portfolio from a business perspective. The changes in fair value are recorded as a component of mortgage income and were gains of $289 thousand , $50 thousand and $2.9 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. The following table summarizes the difference between the aggregate fair value and the unpaid principal balance for residential real estate loans originated for sale measured at fair value as of December 31, 2019 and 2018 . December 31, 2019 (Dollars in thousands) Fair Value Unpaid Principal Balance Difference Originated loans held for sale $ 67,869 $ 65,697 $ 2,172 December 31, 2018 Fair Value Unpaid Principal Balance Difference Originated loans held for sale $ 45,505 $ 44,073 $ 1,432 No originated loans held for sale were 90 or more days past due or on nonaccrual status as of December 31, 2019 or December 31, 2018 . Certain other assets are adjusted to their fair value on a nonrecurring basis, including impaired loans, OREO and goodwill, which are periodically tested for impairment, and mortgage servicing rights, which are carried at the lower of amortized cost or market. Non-impaired loans held for investment, deposits, and borrowings are not reported at fair value. Impaired loans are considered to be at fair value if an associated allowance adjustment or current period charge-off has been recorded. The value of impaired loans is determined by either collateral valuations or discounted present value of the expected cash flow calculations. Collateral values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 6 % and 11 % applied for estimated selling costs and other external factors that may impact the marketability of the property. Expected cash flows are determined using expected payment information at the individual loan level, discounted using the effective interest rate. The effective interest rate for the majority of impaired loans generally ranges between 3 % and 7 %. OREO acquired or written down in the previous 12 months is considered to be at fair value, which uses asset valuations. Asset values are determined using appraisals or other third-party value estimates of the subject property with discounts generally between 6 % and 11 % applied for estimated selling costs and other external factors that may impact the marketability of the property. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. If there are any significant changes in the market or the subject property, valuations are adjusted or new appraisals ordered to ensure the reported values reflect the most current information. Mortgage servicing rights are carried at the lower of cost or market and are, therefore, carried at fair value only when fair value is less than amortized cost. The fair value of mortgage servicing rights is performed using a pooling methodology. Similar loans are pooled together and a discounted cash flow model, which takes into consideration discount rates, prepayment rates, and the weighted average cost to service the loans, are used to determine the fair value. For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of December 31, 2019 and December 31, 2018 . December 31, 2019 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Impaired loans 132,336 — — 132,336 Other real estate remeasured during current year 38,310 — — 38,310 Mortgage servicing rights 3,757 — — 3,757 December 31, 2018 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Impaired loans $ 105,994 $ — $ — $ 105,994 Other real estate remeasured during current year 35,344 — — 35,344 No financial liabilities were carried at fair value on a nonrecurring basis as of December 31, 2019 and December 31, 2018 . |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2019 | |
Retirement Benefits, Description [Abstract] | |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS FCB sponsors benefit plans for its qualifying employees and former First Citizens Bancorporation, Inc. employees (“legacy Bancorporation”) including noncontributory defined benefit pension plans, a 401(k) savings plan and an enhanced 401(k) savings plan. These plans are qualified under the Internal Revenue Code. FCB also maintains agreements with certain executives providing supplemental benefits paid upon death or separation from service at an agreed-upon age. Defined Benefit Pension Plans BancShares employees who were hired prior to April 1, 2007 and qualified under length of service and other requirements are covered by the BancShares pension plan, which was closed to new participants as of April 1, 2007. Discretionary contributions of $71 thousand were made to the BancShares pension plan in 2019 , while discretionary contributions of $50.0 million were made in 2018 . Certain legacy Bancorporation employees who qualified under length of service and other requirements are covered by the Bancorporation pension plan, which was closed to new participants as of September 1, 2007. Discretionary contributions of $3.5 million were made to the Bancorporation pension plan for 2019 , while no discretionary contributions were made for 2018 . Participants in the noncontributory defined benefit pension plans (“the Plans”) were fully vested in the Plans after five years of service. Retirement benefits are based on years of service and highest annual compensation for five consecutive years during the last ten years of employment. FCB makes contributions to the Plans in amounts between the minimum required for funding and the maximum amount deductible for federal income tax purposes. Management evaluates the need for its pension plan contributions on a periodic basis based upon numerous factors including, but not limited to, the pension plan funded status, returns on plan assets, discount rates and the current economic environment. Due to the Plans having the same terms in both form and substance, the following tables and disclosures will report the Plans in total. Obligations and Funded Status The following table provides the changes in benefit obligation and plan assets and the funded status of the Plans at December 31, 2019 and 2018 . (Dollars in thousands) 2019 2018 Change in benefit obligation Projected benefit obligation at January 1 $ 852,975 $ 919,428 Service cost 12,767 16,154 Interest cost 37,260 34,733 Actuarial loss (gain) 118,964 (87,752 ) Benefits paid (31,560 ) (29,588 ) Projected benefit obligation at December 31 990,406 852,975 Change in plan assets Fair value of plan assets at January 1 842,534 881,590 Actual return on plan assets 161,506 (59,468 ) Employer contributions 3,592 50,000 Benefits paid (31,560 ) (29,588 ) Fair value of plan assets at December 31 976,072 842,534 Funded status at December 31 $ (14,334 ) $ (10,441 ) The amounts recognized in other liabilities at December 31, 2019 and 2018 were $14.3 million and $10.4 million , respectively. The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2019 and 2018 . (Dollars in thousands) 2019 2018 Net actuarial loss $ 172,098 $ 162,973 Prior service cost — 57 Accumulated other comprehensive loss, excluding income taxes $ 172,098 $ 163,030 The expected actuarial loss amortization for 2020 is $25.1 million . The accumulated benefit obligation for the Plans at December 31, 2019 and 2018 , was $904.5 million and $779.1 million , respectively. The Plans use a measurement date of December 31 . The following table shows the components of periodic benefit cost related to the Plans and changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2019, 2018 and 2017 . Year ended December 31 (Dollars in thousands) 2019 2018 2017 Service cost $ 12,767 $ 16,154 $ 15,186 Interest cost 37,260 34,733 35,593 Expected return on assets (62,590 ) (60,296 ) (53,244 ) Amortization of prior service cost 57 79 210 Amortization of net actuarial loss 10,924 13,902 9,510 Total net periodic benefit (income) cost (1,582 ) 4,572 7,255 Current year actuarial loss 20,049 32,012 12,945 Amortization of actuarial loss (10,924 ) (13,902 ) (9,510 ) Amortization of prior service cost (57 ) (79 ) (210 ) Net loss recognized in other comprehensive income 9,068 18,031 3,225 Total recognized in net periodic benefit cost and other comprehensive income $ 7,486 $ 22,603 $ 10,480 Service costs and the amortization of prior service costs are recorded in personnel expense, while interest cost, expected return on plan assets and the amortization of actuarial losses (gains) are recorded in other noninterest expense. The assumptions used to determine the benefit obligations at December 31, 2019 and 2018 are as follows: 2019 2018 Discount rate 3.46 % 4.38 % Rate of compensation increase 5.60 5.60 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2019, 2018 and 2017 , are as follows: 2019 2018 2017 Discount rate 4.38 % 3.76 % 4.30 % Rate of compensation increase 5.60 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 7.50 The estimated discount rate, which represents the interest rate that could be obtained for a suitable investment used to fund the benefit obligations, is based on a yield curve developed from high-quality corporate bonds across a full maturity spectrum. The projected cash flows of the pension plans are discounted based on this yield curve and a single discount rate is calculated to achieve the same present value. The weighted average expected long-term rate of return on the Plans’ assets represents the average rate of return expected to be earned on the Plans’ assets over the period the benefits included in the benefit obligation are to be paid. In developing the expected rate of return, historical and current returns, as well as investment allocation strategies, on the Plans’ assets are considered. Plan Assets For the Plans, our primary total return objective is to achieve returns over the long term that will fund retirement liabilities and provide desired plan benefits in a manner that satisfies the fiduciary requirements of the Employee Retirement Income Security Act. The Plans’ assets have a long-term time horizon that runs concurrent with the average life expectancy of the participants. As such, the Plans can assume a time horizon that extends well beyond a full market cycle and can assume a reasonable level of risk. It is expected, however, that both professional investment management and sufficient portfolio diversification will smooth volatility and help to generate a reasonable consistency of return. The investments are broadly diversified across global, economic and market risk factors in an attempt to reduce volatility and target multiple return sources. Within approved guidelines and restrictions, the investment manager has discretion over the timing and selection of individual investments. The Plans’ assets are currently held by the FCB trust department. The fair values of pension plan assets at December 31, 2019 and 2018 , by asset class are as follows: December 31, 2019 (Dollars in thousands) Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 10,974 $ 10,974 — — 0 - 5% 1 % Equity securities 30 - 70% 73 % Common and preferred stock 142,157 142,157 — — Mutual funds 565,343 565,343 — — Fixed income 15 - 45% 23 % U.S. government and government agency securities 78,175 — 78,175 — Corporate bonds 122,370 — 122,370 — Mutual funds 25,288 25,288 — — Alternative investments 0 - 30% 3 % Mutual funds 31,765 31,765 — — Total pension assets $ 976,072 $ 775,527 $ 200,545 $ — 100 % December 31, 2018 Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 19,029 $ 19,029 $ — $ — 0 - 5% 2 % Equity securities 30 - 70% 64 % Common and preferred stock 143,939 143,939 — — Mutual funds 395,328 393,104 2,224 — Fixed income 15 - 45% 30 % U.S. government and government agency securities 79,294 — 79,294 — Corporate bonds 140,358 — 140,358 — Mutual funds 29,561 29,561 — — Alternative investments 0 - 30% 4 % Mutual funds 35,025 35,025 — — Total pension assets $ 842,534 $ 620,658 $ 221,876 $ — 100 % Cash Flows The following are estimated payments to pension plan participants in the indicated periods: (Dollars in thousands) Estimated Payments 2020 $ 36,251 2021 38,980 2022 41,511 2023 43,891 2024 46,234 2025-2029 261,027 401(k) Savings Plans Certain employees enrolled in the defined benefit plan are also eligible to participate in a 401(k) savings plan through deferral of portions of their salary. For employees who participate in the 401(k) savings plan who also continue to accrue additional years of service under the defined benefit plan, FCB makes a matching contribution equal to 100% of the first 3% and 50% of the next 3% of the participant’s deferral up to and including a maximum contribution of 4.5% of the participant’s eligible compensation. The matching contribution immediately vests. At the end of 2007, current employees were given the option to continue to accrue additional years of service under the defined benefit plans or to elect to join an enhanced 401(k) savings plan. Under the enhanced 401(k) savings plan, FCB matches up to 100% of the participant’s deferrals not to exceed 6% of the participant’s eligible compensation. The matching contribution immediately vests. In addition to the employer match of the employee contributions, the enhanced 401(k) savings plan provides a required employer non-elective contribution equal to 3% of the compensation of a participant who remains employed at the end of the calendar year. This employer contribution vests after three years of service. Employees who elected to enroll in the enhanced 401(k) savings plan discontinued the accrual of additional years of service under the defined benefit plans and became enrolled in the enhanced 401(k) savings plan effective January 1, 2008 . Eligible employees hired after January 1, 2008 , are eligible to participate in the enhanced 401(k) savings plan. FCB recognized expense related to contributions to the 401(k) plans of $30.8 million , $28.6 million and $25.3 million during 2019 , 2018 and 2017 , respectively. Additional Benefits for Executives, Directors, and Officers of Acquired Entities FCB has entered into contractual agreements with certain executives providing payments for a period of no more than ten years following separation from service occurring no earlier than an agreed-upon age. These agreements also provide a death benefit in the event a participant dies prior to separation from service or during the payment period following separation from service. FCB has also assumed liability for contractual obligations to directors and officers of previously acquired entities. The following table provides the accrued liability as of December 31, 2019 and 2018 , and the changes in the accrued liability during the years then ended: (Dollars in thousands) 2019 2018 Present value of accrued liability as of January 1 $ 34,063 $ 37,299 Liability assumed in the Biscayne Bancshares acquisition 1,138 — Liability assumed in the First South Bancorp acquisition 1,067 — Liability assumed in the Entegra acquisition 9,738 — Liability assumed in the Capital Commerce acquisition — 808 Benefit expense and interest cost 3,970 535 Benefits paid (4,681 ) (4,579 ) Present value of accrued liability as of December 31 $ 45,295 $ 34,063 Discount rate at December 31 3.46 % 4.38 % Other Compensation Plans FCB offers various short-term and long-term incentive plans for certain employees. Compensation awarded under these plans may be based on defined formulas, performance criteria, or at the discretion of management. The incentive compensation programs were designed to motivate employees through a balanced approach of risk and reward for their contributions toward FCB’s success. As of December 31, 2019 and 2018 , the accrued liability for incentive compensation was $57.0 million and $46.4 million , respectively. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | LEASES The following table presents lease assets and liabilities as of December 31, 2019 : (Dollars in thousands) Classification December 31, 2019 Assets: Operating Other assets $ 77,115 Finance Premises and equipment 8,820 Total leased assets $ 85,935 Liabilities: Operating Other liabilities $ 76,746 Finance Other borrowings 8,230 Total lease liabilities $ 84,976 The following table presents lease costs for the year ended December 31, 2019 . Variable lease cost primarily represents variable payments such as common area maintenance and utilities recognized in the period in which the expense was incurred. Certain of our lease agreements also include rental payments adjusted periodically for inflation. While lease liabilities are not remeasured as a result of these changes, these adjustments are treated as variable lease costs and recognized in the period in which the expense is incurred. (Dollars in thousands) Classification 2019 Lease cost: Operating lease cost (1) Occupancy expense $ 16,094 Finance lease cost: Amortization of leased assets Equipment expense 1,975 Interest on lease liabilities Interest expense - Other borrowings 259 Variable lease cost Occupancy expense 2,394 Sublease income Occupancy expense (390 ) Net lease cost $ 20,332 (1) Operating lease cost includes short-term lease cost, which is immaterial. The following table presents lease liability maturities in the next five years and thereafter: (Dollars in thousands) Operating Leases Finance Leases Total 2020 $ 14,257 $ 2,142 $ 16,399 2021 12,688 2,159 14,847 2022 11,261 1,876 13,137 2023 9,340 993 10,333 2024 7,379 617 7,996 Thereafter 36,653 1,066 37,719 Total lease payments $ 91,578 $ 8,853 $ 100,431 Less: Interest 14,832 623 15,455 Present value of lease liabilities $ 76,746 $ 8,230 $ 84,976 The following table presents the remaining weighted average lease terms and discount rates as of December 31, 2019 : Weighted average remaining lease term (years): December 31, 2019 Operating 10.2 Finance 4.7 Weighted average discount rate: Operating 3.23 % Finance 3.06 The following table presents supplemental cash flow information related to leases for the year ended December 31, 2019 : (Dollars in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,703 Operating cash flows from finance leases 259 Financing cash flows from finance leases 1,850 Right-of-use assets obtained in exchange for new operating lease liabilities 17,837 Right-of-use assets obtained in exchange for new finance lease liabilities 1,886 |
Leases | LEASES The following table presents lease assets and liabilities as of December 31, 2019 : (Dollars in thousands) Classification December 31, 2019 Assets: Operating Other assets $ 77,115 Finance Premises and equipment 8,820 Total leased assets $ 85,935 Liabilities: Operating Other liabilities $ 76,746 Finance Other borrowings 8,230 Total lease liabilities $ 84,976 The following table presents lease costs for the year ended December 31, 2019 . Variable lease cost primarily represents variable payments such as common area maintenance and utilities recognized in the period in which the expense was incurred. Certain of our lease agreements also include rental payments adjusted periodically for inflation. While lease liabilities are not remeasured as a result of these changes, these adjustments are treated as variable lease costs and recognized in the period in which the expense is incurred. (Dollars in thousands) Classification 2019 Lease cost: Operating lease cost (1) Occupancy expense $ 16,094 Finance lease cost: Amortization of leased assets Equipment expense 1,975 Interest on lease liabilities Interest expense - Other borrowings 259 Variable lease cost Occupancy expense 2,394 Sublease income Occupancy expense (390 ) Net lease cost $ 20,332 (1) Operating lease cost includes short-term lease cost, which is immaterial. The following table presents lease liability maturities in the next five years and thereafter: (Dollars in thousands) Operating Leases Finance Leases Total 2020 $ 14,257 $ 2,142 $ 16,399 2021 12,688 2,159 14,847 2022 11,261 1,876 13,137 2023 9,340 993 10,333 2024 7,379 617 7,996 Thereafter 36,653 1,066 37,719 Total lease payments $ 91,578 $ 8,853 $ 100,431 Less: Interest 14,832 623 15,455 Present value of lease liabilities $ 76,746 $ 8,230 $ 84,976 The following table presents the remaining weighted average lease terms and discount rates as of December 31, 2019 : Weighted average remaining lease term (years): December 31, 2019 Operating 10.2 Finance 4.7 Weighted average discount rate: Operating 3.23 % Finance 3.06 The following table presents supplemental cash flow information related to leases for the year ended December 31, 2019 : (Dollars in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,703 Operating cash flows from finance leases 259 Financing cash flows from finance leases 1,850 Right-of-use assets obtained in exchange for new operating lease liabilities 17,837 Right-of-use assets obtained in exchange for new finance lease liabilities 1,886 |
Transactions with Related Perso
Transactions with Related Persons | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
Transactions with related persons | TRANSACTIONS WITH RELATED PERSONS BancShares has, and expects to have in the future, banking transactions in the ordinary course of business with directors, officers and their associates (“Related Persons”) and entities controlled by Related Persons. For those identified as Related Persons as of December 31, 2019 , the following table provides an analysis of changes in the loans outstanding during 2019 and 2018 : Year ended December 31 (dollars in thousands) 2019 2018 Balance at January 1 $ 199 $ 74 New loans 5 134 Repayments (59 ) (9 ) Balance at December 31 $ 145 $ 199 The amounts presented exclude loans to Related Persons for credit card lines of $15,000 or less, overdraft lines of $5,000 or less and intercompany transactions between BancShares and FCB. Unfunded loan commitments available to Related Persons were $2.6 million and $4.3 million as of December 31, 2019 and 2018 , respectively. During the year ended December 31, 2019 , BancShares repurchased 100,000 shares of its outstanding Class A common stock at an average price of $464.90 per share from Ella Anna Holding, as trustee of her revocable trust. Mrs. Holding is the widow of BancShares’ former Executive Vice Chairman, Frank B. Holding, and the mother of Frank B. Holding, Jr. and Hope H. Bryant, BancShares’ Chairman and Chief Executive Officer and Vice Chairman, respectively. Pursuant to the existing share repurchase authorization, the Board’s independent Audit Committee reviewed and approved the repurchase of up to 250,000 shares held by Mrs. Holding on or before April 30, 2020, pursuant to BancShares’ related person transaction policy. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES To meet the financing needs of its customers, BancShares and its subsidiaries have financial instruments with off-balance sheet risk. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve elements of credit, interest rate or liquidity risk. Commitments to extend credit are legally binding agreements to lend to customers. These commitments generally have fixed expiration dates or other termination clauses and may require payment of fees. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future liquidity requirements. Established credit standards control the credit risk exposure associated with these commitments. In some cases, BancShares requires collateral be pledged to secure the commitment, including cash deposits, securities and other assets. Standby letters of credit are commitments guaranteeing performance of a customer to a third party. These commitments are primarily issued to support public and private borrowing arrangements, and their fair value is not material. To mitigate its risk, BancShares’ credit policies govern the issuance of standby letters of credit. The credit risk related to the issuance of these letters of credit is essentially the same as those involved in extending loans to clients and, therefore, these letters of credit are collateralized when necessary. The following table presents the commitments to extend credit and unfunded commitments as of December 31, 2019 and 2018 : (Dollars in thousands) 2019 2018 Unused commitments to extend credit $ 10,682,378 $ 10,054,712 Standby letters of credit 99,601 96,467 BancShares and FCB have investments in qualified affordable housing projects primarily for the purposes of fulfilling Community Reinvestment Act requirements and obtaining tax credits. Unfunded commitments to fund future investments in affordable housing projects totaled $70.0 million and $68.0 million as of December 31, 2019 and 2018 , respectively, and were recorded within other liabilities. BancShares and various subsidiaries have been named as defendants in legal actions arising from their normal business activities in which damages in various amounts are claimed. BancShares is also exposed to litigation risk relating to the prior business activities of banks from which assets were acquired and liabilities assumed in merger transactions. Although the amount of any ultimate liability with respect to such matters cannot be determined, in the opinion of management, any such liability will not have a material effect on BancShares’ consolidated financial statements. |
Parent Company Financial Statem
Parent Company Financial Statements | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Parent Company Financial Statements | PARENT COMPANY FINANCIAL STATEMENTS Parent Company Condensed Balance Sheets (Dollars in thousands) December 31, 2019 December 31, 2018 Assets Cash and due from banks $ 4,573 $ 7,188 Overnight investments 2,547 385 Investments in marketable equity securities 82,333 92,599 Investment securities available for sale 3,015 6,456 Investment in banking subsidiaries 3,763,947 3,314,292 Investment in other subsidiaries 3,555 41,830 Due from subsidiaries — 814 Note to banking subsidiaries — 100,000 Other assets 45,164 42,810 Total assets $ 3,905,134 $ 3,606,374 Liabilities and Shareholders’ Equity Subordinated debentures $ 105,677 $ 105,546 Other borrowings 201,702 — Due to subsidiaries 1,670 299 Other liabilities 9,901 11,575 Shareholders’ equity 3,586,184 3,488,954 Total liabilities and shareholders’ equity $ 3,905,134 $ 3,606,374 Parent Company Condensed Income Statements Year ended December 31 (Dollars in thousands) 2019 2018 2017 Interest and dividend income $ 1,327 $ 1,362 $ 921 Interest expense 7,187 5,154 4,814 Net interest loss (5,860 ) (3,792 ) (3,893 ) Dividends from banking subsidiaries 149,819 242,910 50,424 Marketable equity securities gains (losses), net 20,625 (7,610 ) — Other income 257 347 8,437 Other operating expense 9,497 11,127 6,881 Income before income tax benefit and equity in undistributed net income of subsidiaries 155,344 220,728 48,087 Income tax expense (benefit) 892 (5,184 ) (5,395 ) Income before equity in undistributed net income of subsidiaries 154,452 225,912 53,482 Equity in undistributed net income of subsidiaries 302,919 174,401 270,270 Net income $ 457,371 $ 400,313 $ 323,752 Parent Company Condensed Statements of Cash Flows Year ended December 31 (Dollars in thousands) 2019 2018 2017 OPERATING ACTIVITIES Net income $ 457,371 $ 400,313 $ 323,752 Adjustments Undistributed net income of subsidiaries (302,919 ) (174,401 ) (270,270 ) Net amortization of premiums and discounts 119 88 759 Marketable equity securities (gains) losses, net (20,625 ) 7,610 — Gain on extinguishment of debt — (160 ) (919 ) Realized gains (losses) on investment securities available for sale, net (20 ) — (8,003 ) Net change in due to/from subsidiaries (2,185 ) (381 ) (1,626 ) Change in other assets (2,001 ) 3,657 (10,509 ) Change in other liabilities 981 (2,595 ) 6,310 Net cash provided by operating activities 130,721 234,131 39,494 INVESTING ACTIVITIES Net change in loans 100,000 (100,000 ) — Net change in overnight investments 2,162 14,091 11,681 Purchases of marketable equity securities (26,166 ) (2,818 ) — Proceeds from sales of marketable equity securities 56,749 9,528 — Purchases of investment securities — (6,438 ) (28,012 ) Proceeds from sales, calls, and maturities of securities 3,477 9,997 32,463 Net cash provided by (used in) investing activities 136,222 (75,640 ) 16,132 FINANCING ACTIVITIES Net change in short-term borrowings 40,277 (15,000 ) — Repayment of long-term obligations (3,575 ) (1,840 ) (4,081 ) Origination of long-term obligations 165,000 — — Repurchase of common stock (453,123 ) (163,095 ) — Cash dividends paid (18,137 ) (16,779 ) (14,412 ) Net cash used in financing activities (269,558 ) (196,714 ) (18,493 ) Net change in cash (2,615 ) (38,223 ) 37,133 Cash balance at beginning of year 7,188 45,411 8,278 Cash balance at end of year $ 4,573 $ 7,188 $ 45,411 CASH PAYMENTS FOR: Interest $ 7,187 $ 5,154 $ 4,814 Income taxes 78,345 73,806 88,565 |
Accounting Policies and Basis_2
Accounting Policies and Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Nature of Operations | Nature of Operations First Citizens BancShares, Inc. (“we,” “us,” “our,” “BancShares,”) is a financial holding company organized under the laws of Delaware and conducts operations through its banking subsidiary, First-Citizens Bank & Trust Company (“FCB,” or “the Bank”), which is headquartered in Raleigh, North Carolina. BancShares and its subsidiaries operate 574 branches in 19 states predominantly located in the Southeast, Midwest and Southwest regions of the United States. BancShares seeks to meet the financial needs of individuals and commercial entities in its market areas through a wide range of retail and commercial banking services. Loan services include various types of commercial, business and consumer lending. Deposit services include checking, savings, money market and time deposit accounts. First Citizens Wealth Management provides holistic, goals-based advisory services encompassing a broad range of client deliverables. These deliverables include wealth planning, discretionary investment advisory services, insurance, brokerage, defined benefit and defined contribution services, private banking, trust, fiduciary, philanthropy and special asset services. |
Principles of Consolidation and Segment Reporting | Principles of Consolidation and Basis of Presentation The accounting and reporting policies of BancShares and its subsidiaries are in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and general practices within the banking industry. The consolidated financial statements of BancShares include the accounts of BancShares and its subsidiaries, certain partnership interests and variable interest entities. All significant intercompany accounts and transactions are eliminated upon consolidation. BancShares operates with centralized management and combined reporting; thus, BancShares operates as one consolidated reportable segment. Variable interest entities (“VIE”) are legal entities that either do not have sufficient equity to finance their activities without the support from other parties or whose equity investors lack a controlling financial interest. FCB has investments in certain partnerships and limited liability entities that have been evaluated and determined to be VIEs. Consolidation of a VIE is appropriate if a reporting entity holds a controlling financial interest in the VIE and is the primary beneficiary. FCB is not the primary beneficiary and does not hold a controlling interest in the VIEs as it does not have the power to direct the activities that most significantly impact the VIEs economic performance. As such, assets and liabilities of these entities are not consolidated into the financial statements of BancShares. The recorded investment in these entities is reported within other assets. |
Reclassifications | Reclassifications In certain instances, amounts reported in prior years’ consolidated financial statements have been reclassified to conform to the current financial statement presentation. Such reclassifications had no effect on previously reported shareholders’ equity or net income. |
Use of Estimates in the Preparation of Financial Statements | Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions impacting the amounts reported. Actual results could differ from those estimates. The estimates BancShares considers significant are the allowance for loan and lease losses, fair value measurements, and income taxes. |
Business Combinations | Business Combinations BancShares accounts for all business combinations using the acquisition method of accounting. Under this method of accounting, acquired assets and assumed liabilities are included with the acquirer’s accounts as of the date of acquisition, with any excess of purchase price over the fair value of the net assets acquired recognized as either finite lived intangibles or capitalized as goodwill. In addition, acquisition related costs and restructuring costs are recognized as period expenses as incurred. See Note B , Business Combinations, for additional information. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash and due from banks, interest-bearing deposits with banks and federal funds sold. Cash and cash equivalents have initial maturities of three months or less. The carrying value of cash and cash equivalents approximates its fair value due to its short-term nature. |
Investment Securities | Debt Securities BancShares classifies debt securities as held to maturity or available for sale. Debt securities are classified as held to maturity when BancShares has the intent and ability to hold the securities to maturity and are reported at amortized cost. Other debt securities are classified as available for sale and reported at estimated fair value, with unrealized gains and losses, net of income taxes, reported in Accumulated Other Comprehensive Income (“AOCI”). Amortization of premiums and accretion of discounts for debt securities are included in interest income. Realized gains and losses from the sale of debt securities are determined by specific identification on a trade date basis and are included in noninterest income. BancShares evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (“OTTI”) at least quarterly. BancShares considers such factors as the length of time and the extent to which the market value has been below amortized cost, long-term expectations and recent experience regarding principal and interest payments, BancShares ’ intent to sell, and whether it is more likely than not that it would be required to sell those securities before the anticipated recovery of the amortized cost. In situations where BancShares does not intend to sell the security and it is more likely than not BancShares will not be required to sell the security prior to recovery the credit component of an OTTI loss is recognized in earnings and the non-credit component is recognized in AOCI. Equity Securities Equity securities are recorded on a trade date basis and measured at fair value. Realized and unrealized gains and losses are determined by specific identification and are included in noninterest income. Non-marketable equity securities are securities with no readily determinable fair values and are measured at cost. BancShares evaluates its non-marketable equity securities for impairment and recoverability of the recorded investment by considering positive and negative evidence, including the profitability and asset quality of the issuer, dividend payment history and recent redemption experience. Impairment is assessed at each reporting period and if identified, is recognized in noninterest expense. Non-marketable equity securities were $12.5 million and $2.5 million at December 31, 2019 and 2018 , respectively, and are included in other assets. Other Securities Membership in the Federal Home Loan Bank (“FHLB”) network requires ownership of FHLB restricted stock. This stock is restricted as it may only be sold to the FHLB and all sales must be at par. Accordingly, the FHLB restricted stock is carried at cost, less any applicable impairment charges and is recorded within other assets. FHLB restricted stock was $43.0 million and $25.3 million at December 31, 2019 and 2018 , respectively. Investments in Qualified Affordable Housing Projects BancShares and FCB have investments in qualified affordable housing projects primarily for the purposes of fulfilling Community Reinvestment Act requirements and obtaining tax credits. These investments are accounted for using the proportional amortization method if certain conditions are met. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other tax benefits received, and the net investment performance is recognized in the income statement as a component of income tax expense. All of the investments held in qualified affordable housing projects qualify for the proportional amortization method and totaled $167.8 million and $147.3 million at December 31, 2019 and 2018 , respectively, and are included in other assets. |
Loans Held For Sale | Loans Held For Sale BancShares elected to apply the fair value option for new originations of prime residential mortgage loans to be sold. Gains and losses on sales of mortgage loans are recognized within mortgage income. |
Loans and Leases | Loans and Leases BancShares’ accounting methods for loans and leases depends on whether they are originated or purchased, and if purchased, whether or not the loans reflect credit deterioration at the date of acquisition. Non-Purchased Credit Impaired (“Non-PCI”) Loans Non-PCI loans consist of loans originated by BancShares or loans purchased from other institutions that do not reflect credit deterioration at acquisition. Originated loans for which management has the intent and ability to hold for the foreseeable future are classified as held for investment and carried at the principal amount outstanding net of any unearned income, charge-offs and unamortized fees and costs. Nonrefundable fees collected and certain direct costs incurred related to loan originations are deferred and recorded as an adjustment to loans outstanding. The net amount of the nonrefundable fees and costs is amortized to interest income over the contractual lives using methods that approximate a constant yield. Purchased loans which do not reflect credit deterioration at acquisition are classified as non-PCI loans. These loans are recorded at fair value at the date of acquisition. The difference between the fair value and the unpaid principal balance at the acquisition date is amortized or accreted to interest income over the contractual life of the loan using the effective interest method. Purchased Credit Impaired (“PCI”) Loans Purchased loans which reflect credit deterioration since origination, such that it is probable at acquisition that BancShares will be unable to collect all contractually required payments, are classified as PCI loans. PCI loans are recorded at fair value at the date of acquisition. If the timing and amount of the future cash flows can be reasonably estimated, any excess of cash flows expected at acquisition over the estimated fair value are recognized as interest income over the life of the loans using the effective yield method. Subsequent to the acquisition date, increases in cash flows over those expected at the acquisition date are recognized prospectively as interest income. Decreases in expected cash flows due to credit deterioration are recognized by recording an allowance for loan losses. In the event of prepayment, the remaining unamortized amount is recognized in interest income. To the extent possible, PCI loans are aggregated into pools based upon common risk characteristics and each pool is accounted for as a single unit. The performance of all loans within the BancShares portfolio is subject to a number of external risks, including changes in the overall health of the economy, declines in real estate values, changes in the demand for products and services and personal events, such as death, disability or change in marital status. BancShares evaluates and reports its non-PCI and PCI loan portfolios separately, and each portfolio is further divided into commercial and non-commercial segments based on the type of borrower, purpose, collateral and/or our underlying credit management processes. Additionally, commercial and noncommercial loans are assigned to loan classes, which further disaggregate the loan portfolio. Non-PCI Commercial Loans & Leases Non-PCI commercial loans, excluding purchased non-impaired loans, are underwritten based primarily upon the customer’s ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. Additionally, an understanding of the borrower’s business, including the experience and background of the principals is obtained prior to approval. To the extent the loan is secured by collateral, the likely value of the collateral and what level of strength the collateral brings to the transaction is also evaluated. If the principals or other parties provide personal guarantees, the relative financial strength and liquidity of each guarantor is also assessed. Acquired non-PCI commercial loans are evaluated using comparable methods and procedures as those originated by BancShares. Construction and land development - Construction and land development consists of loans to finance land for development of commercial or residential real property and construction of multifamily apartments or other commercial properties. These loans are highly dependent on the supply and demand for commercial real estate as well as the demand for newly constructed residential homes and lots acquired for development. Deterioration in demand could result in decreased collateral values, which could make repayments of outstanding loans difficult for customers. Commercial mortgage - Commercial mortgage consists of loans to purchase or refinance owner-occupied or investment nonresidential properties. Commercial mortgages secured by owner-occupied properties are primarily dependent on the ability of borrowers to achieve business results consistent with those projected at loan origination. Commercial mortgages secured by investment properties include office buildings and other facilities rented or leased to unrelated parties. The primary risk associated with income producing commercial mortgage loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. While these loans and leases are collateralized by real property in an effort to mitigate risk, it is possible the liquidation of collateral will not fully satisfy the obligation. Other commercial real estate - Other commercial real estate consists of loans secured by farmland (including residential farms and other improvements) and multifamily (five or more) residential properties. The performance of agricultural loans is highly dependent on favorable weather, reasonable costs for seed and fertilizer and the ability to successfully market the product at a profitable margin. The demand for these products is also dependent on macroeconomic conditions beyond the control of the borrower. The primary risk associated with multifamily loans is the ability of the income-producing property that collateralizes the loan to produce adequate cash flow to service the debt. High unemployment or generally weak economic conditions may result in borrowers having to provide rental rate concessions to achieve adequate occupancy rates. Commercial and industrial and lease financing - Commercial and industrial and lease financing consists of loans or lines of credit to finance accounts receivable, inventory or other general business needs, business credit cards, and lease financing agreements for equipment, vehicles, or other assets. The primary risk associated with commercial and industrial and lease financing loans is the ability of borrowers to achieve business results consistent with those projected at origination. Failure to achieve these projections presents risk the borrower will be unable to service the debt consistent with the contractual terms of the loan or lease. Other - Other consists of all other commercial loans not classified in one of the preceding classes. These typically include loans to nonprofit organizations such as churches, hospitals, educational and charitable organizations, and certain loans repurchased with government guarantees. Non-PCI Noncommercial Loans & Leases Non-PCI noncommercial loans, excluding purchased non-impaired loans, are centrally underwritten using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use and recent credit inquiries. To the extent the loan is secured by collateral, the likely value of such collateral is evaluated. Acquired non-PCI noncommercial loans are evaluated using comparable methods and procedures as those originated by BancShares. Residential mortgage - Residential mortgage consists of loans to purchase or refinance the borrower’s primary dwelling, second residence or vacation home and are often secured by 1-4 family residential property. Significant and rapid declines in real estate values can result in borrowers having debt levels in excess of the current market value of the collateral. Revolving mortgage - Revolving mortgage consists of home equity lines of credit secured by first or second liens on the borrower’s primary residence. These loans are often secured by second liens on the residential real estate and are particularly susceptible to declining collateral values as a substantial decline in value could render a second lien position effectively unsecured. Construction and land development - Construction and land development consists of loans to construct a borrower’s primary or secondary residence or vacant land upon which the owner intends to construct a dwelling at a future date. These loans are typically secured by undeveloped or partially developed land in anticipation of completing construction of a 1-4 family residential property. There is risk these construction and development projects can experience delays and cost overruns exceeding the borrower’s financial ability to complete the project. Such cost overruns can result in foreclosure of partially completed and unmarketable collateral. Consumer - Consumer loans consist of installment loans to finance purchases of vehicles, unsecured home improvements, student loans and revolving lines of credit that can be secured or unsecured, including personal credit cards. The value of the underlying collateral within this class is at risk of potential rapid depreciation which could result in unpaid balances in excess of the collateral. PCI Loans The segments and classes utilized to evaluate and report PCI loans is consistent with that of non-PCI loans. PCI loans were underwritten by other institutions, often with different lending standards and methods; however, the underwriting risks are generally consistent with the risks identified for non-PCI loans. Additionally, in some cases, collateral for PCI loans may be located in regions that previously experienced deterioration in real estate values and the underlying collateral may therefore not support full repayment of these loans. |
Impaired Loans, Troubled Debt Restructurings (TDR) and Nonperforming Assets | Troubled Debt Restructurings |
Allowance for Loan and Lease Losses (ALLL) | Allowance for Loan and Lease Losses (“ALLL”) The ALLL represents management’s best estimate of inherent credit losses within the loan and lease portfolio at the balance sheet date. Management determines the ALLL based on an ongoing evaluation of the loan portfolio. Estimates for loan losses are determined by analyzing quantitative and qualitative components, such as: economic conditions, historical loan losses, historical loan migration to charge-off experience, current trends in delinquencies and charge-offs, expected cash flows on PCI loans, current assessment of impaired loans, and changes in the size, composition and/or risk within the loan portfolio. Adjustments to the ALLL are recorded with a corresponding entry to provision for loan and lease losses. Loan balances considered uncollectible are charged-off against the ALLL. Recoveries of amounts previously charged-off are generally credited to the ALLL. A primary component of determining the allowance on non-PCI loans collectively evaluated is the actual loss history of the various loan classes. Loan loss factors are based on historical experience and may be adjusted for significant factors, that in management’s judgment, affect the collectability of principal and interest at the balance sheet date. In accordance with our allowance methodology, loan loss factors are monitored quarterly and may be adjusted based on changes in the level of historical net charge-offs and updates by management, such as the number of periods included in the calculation of loss factors, loss severity, loss emergence period and portfolio attrition. For the non-PCI commercial segment, management incorporates historical net loss data to develop the applicable loan loss factors. General reserves for collective impairment are based on incurred loss estimates for the loan class based on average loss rates by credit quality indicators, which are estimated using historical loss experience and credit risk rating migrations. Credit quality indicators include borrower classification codes and facility risk ratings. Incurred loss estimates may be adjusted through a qualitative assessment to reflect current economic conditions and portfolio trends including credit quality, concentrations, aging of the portfolio and significant policy and underwriting changes. For the non-PCI noncommercial segment, management incorporates specific loan class and delinquency status trends into the loan loss factors. General reserve estimates of incurred losses are based on historical loss experience and the migration of loans through the various delinquency pools applied to the current risk mix. Non-PCI loans are considered to be impaired when, based on current information and events, it is probable that a borrower will be unable to pay all amounts due according to the contractual terms of the loan agreement. Generally, management considers the following loans to be impaired: all TDR loans and all loan relationships which are on nonaccrual or 90+ days past due and greater than $500,000. Non-PCI impaired loans greater than $500,000 are evaluated individually for impairment while others are evaluated collectively. The impairment assessment and determination of the related specific reserve for each impaired loan is based on the loan’s characteristics. Impairment measurement for loans dependent on borrower cash flow for repayment is based on the present value of expected cash flows discounted at the interest rate implicit in the original loan agreement. Impairment measurement for most real estate loans, particularly when a loan is considered to be a probable foreclosure, is based on the fair value of the underlying collateral. Collateral is appraised and market value (appropriately adjusted for an assessment of the sales and marketing costs) is used to calculate a fair value estimate. A specific valuation allowance is established or partial charge-off is recorded for the difference between the excess recorded investment in the loan and the loan’s estimated fair value less costs to sell. The ALLL for PCI loans is estimated based on the expected cash flows over the life of the loan. BancShares continues to estimate and update cash flows expected to be collected on individual loans or pools of loans sharing common risk characteristics. BancShares compares the carrying value of all PCI loans to the present value at each balance sheet date. If the present value is less than the carrying value, the shortfall reduces the remaining credit discount and if it is in excess of the remaining credit discount, an ALLL is recorded through the recognition of provision expense. The ALLL for PCI loans with subsequent increases in expected cash flows to be collected is reduced and any remaining excess is recorded as an adjustment to the accretable yield over the loan’s or pool’s remaining life. |
Premises and Equipment | Premises and Equipment |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents the excess of the purchase price of an acquired entity over the fair value of the identifiable assets acquired. Goodwill is not amortized, but is evaluated at least annually for impairment during the third quarter, or when events or changes in circumstances indicate a potential impairment exists. Other acquired intangible assets with finite lives, such as core deposit intangibles, are initially recorded at fair value and are amortized on an accelerated basis typically between five to twelve years over their estimated useful lives. Intangible assets are evaluated for impairment when events or changes in circumstances indicate a potential impairment exists. Mortgage Servicing Rights (“MSR”) |
Fair Values | Fair Values The fair value of financial instruments and the methods and assumptions used in estimating fair value amounts and financial assets and liabilities for which fair value was elected are detailed in Note P |
Income Taxes | Income Taxes Income taxes are accounted for using the asset and liability approach as prescribed in ASC 740, Income Taxes . Under this method, a deferred tax asset or liability is determined based on the currently enacted tax rates applicable to the period in which the differences between the financial statement carrying amounts and tax basis of existing assets and liabilities are expected to be reported in BancShares’ income tax returns. The effect on deferred taxes of a change in tax rates is recognized in income in the period which includes the enactment date. The potential impact of current events on the estimates used to establish income tax expenses and income tax liabilities is continually monitored and evaluated. Income tax positions based on current tax law, positions taken by various tax auditors within the jurisdictions where income tax returns are filed, as well as potential or pending audits or assessments by such tax auditors are evaluated on a periodic basis. BancShares has unrecognized tax benefits related to the uncertain portion of tax positions BancShares has taken or expects to take. A liability may be created or an amount refundable may be reduced for the amount of unrecognized tax benefits. These uncertainties result from the application of complex tax laws, rules, regulations and interpretations, primarily in state taxing jurisdictions. Unrecognized tax benefits are assessed quarterly and may be adjusted through current income tax expense in future periods based on changing facts and circumstances, completion of examinations by taxing authorities or expiration of a statute of limitations. Estimated penalties and interest on uncertain tax positions are recognized in income tax expense. BancShares files a consolidated federal income tax return and various combined and separate company state tax returns. See Note O , Income Taxes, for additional disclosures. |
Per Share Data | Per Share Data Net income per share is computed by dividing net income by the weighted average number of both classes of common shares outstanding during each period. BancShares had no potential dilutive common shares outstanding in any period and did not report diluted net income per share. Cash dividends per share apply to both Class A and Class B common stock. Shares of Class A common stock carry one vote per share, while shares of Class B common stock carry 16 votes per share. |
Defined Benefit Pension Plan | Defined Benefit Pension Plans BancShares maintains noncontributory defined benefit pension plans covering certain qualifying employees. The calculation of the obligations and related expenses under the plans require the use of actuarial valuation methods and assumptions. Actuarial assumptions used in the determination of future values of plan assets and liabilities are subject to management judgment and may differ significantly if different assumptions are used. All assumptions are reviewed annually for appropriateness. The discount rate assumption used to measure the plan obligations is based on a yield curve developed from high-quality corporate bonds across a full maturity spectrum. The projected cash flows of the pension plans are discounted based on this yield curve, and a single discount rate is calculated to achieve the same present value. The assumed rate of future compensation increases is based on actual experience and future salary expectations. We also estimate a long-term rate of return on pension plan assets used to estimate the future value of plan assets. In developing the long-term rate of return, we consider such factors as the actual return earned on plan assets, historical returns on the various asset classes in the plans and projections of future returns on various asset classes. Refer to Note Q , Employee Benefit Plans, for disclosures related to BancShares’ defined benefit pension plans. |
Lessee, Leases | Leases BancShares leases certain branch locations, administrative offices and equipment. Operating lease ROU assets are included in other assets and the associated lease obligations are included in other liabilities. Finance leases are included in premises and equipment and other borrowings. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets; we instead recognize lease expense for these leases on a straight-line basis over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our corresponding obligation to make lease payments arising from the lease. Operating and finance lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. The operating and finance lease ROU asset also includes initial direct costs and pre-paid lease payments made, excluding lease incentives. As most of our leases do not provide an implicit rate, BancShares uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The incremental borrowing rate is determined using secured rates for new FHLB advances under similar terms as the lease at inception. We utilize the implicit or incremental borrowing rate at the effective date of a modification not accounted for as a separate contract or a change in the lease terms to determine the present value of lease payments. For operating leases commencing prior to January 1, 2019, BancShares used the incremental borrowing rate as of that date. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 25 years . The exercise of lease renewal options is at our sole discretion. When it is reasonably certain we will exercise our option to renew or extend the lease term, the option is included in calculating the value of the ROU asset and lease liability. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. We determine if an arrangement is a lease at inception. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We do not lease any properties or facilities from any related party. As of December 31, 2019 , |
Revenue from Contract with Customer | Revenue Recognition BancShares generally acts in a principal capacity, on its own behalf, in its contracts with customers. In these transactions, we recognize revenues and the related costs to generate those revenues on a gross basis. In certain, circumstances, we act in an agent capacity, on behalf of the customers with other entities, and recognize revenues and the related costs to provide our services on a net basis. Business lines where BancShares acts as an agent include cardholder and merchant services, insurance, and brokerage. Descriptions of our noninterest revenue-generating activities are broadly segregated as follows: Cardholder and Merchant Services - These represent interchange fees from customer debit and credit card transactions earned when a cardholder engages in a transaction with a merchant as well as fees charged to merchants for providing them the ability to accept and process the debit and credit card transaction. Revenue is recognized when the performance obligation has been satisfied, which is upon completion of the card transaction. Additionally, as FCB is acting as an agent for the customer and transaction processor, costs associated with cardholder and merchant services transactions are netted against the fee income. Service charges on deposit accounts - These deposit account-related fees represent monthly account maintenance and transaction-based service fees such as overdraft fees, stop payment fees and charges for issuing cashier’s checks and money orders. For account maintenance services, revenue is recognized at the end of the statement period when our performance obligation has been satisfied. All other revenues from transaction-based services are recognized at a point in time when the performance obligation has been completed. Wealth management services - These primarily represent sales commissions on various product offerings, transaction fees and trust and asset management fees. The performance obligation for wealth management services is the provision of services to place annuity products issued by the counterparty to investors and the provision of services to manage the client’s assets, including brokerage custodial and other management services. Revenue from wealth management services is recognized over the period in which services are performed, and is based on a percentage of the value of the assets under management/administration. Other service charges and fees - These include, but are not limited to, check cashing fees, international banking fees, internet banking fees, wire transfer fees and safe deposit fees. The performance obligation is fulfilled and revenue is recognized, at the point in time the requested service is provided to the customer. Insurance commissions - These represent commissions earned on the issuance of insurance products and services. The performance obligation is generally satisfied upon the issuance of the insurance policy and revenue is recognized when the commission payment is remitted by the insurance carrier or policy holder depending on whether the billing is performed by BancShares or the carrier. ATM income - These represent fees imposed on customers and non-customers for engaging in an ATM transaction. Revenue is recognized at the time of the transaction as the performance obligation of rendering the ATM service has been met. Other - This consists of several forms of recurring revenue such as FHLB dividends and income earned on changes in the cash surrender value of bank-owned life insurance. The remaining miscellaneous income includes recoveries on PCI loans previously charged-off and other immaterial transactions where revenue is recognized when, or as, the performance obligation is satisfied. Refer to Note N, Other Noninterest Income and Other Noninterest Expense, for additional disclosures on other noninterest income. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) This ASU increases transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The key difference between prior standards and this ASU is the requirement for lessees to recognize all lease contracts on their balance sheet. This ASU requires lessees to classify leases as either operating or finance leases, which are substantially similar to the previous operating and capital leases classifications. The distinction between these two classifications under the new standard does not relate to balance sheet treatment, but relates to treatment in the statements of income and cash flows. Lessor guidance remains largely unchanged with the exception of how a lessor determines the appropriate lease classification for each lease to better align the lessor guidance with revised lessee classification guidance. We adopted this standard, as of January 1, 2019, using the effective date method that allows for entities to initially apply the new leases standard at the adoption date. In addition, we made several policy elections permitted under the transition guidance, which among other things, allowed us to carry forward the historical lease classification. We determined that most renewal options would not be reasonably determinable in estimating the expected lease term. We made the policy election available under Topic 842 to combine lease and non-lease components and applied this practical expedient to leases in effect prior to the date of adoption. We will continue to apply the practical expedient to all leases entered into going forward. The adoption of the new standard had an impact on our Consolidated Balance Sheet as of January 1, 2019, with the recording of operating Right-of-Use (“ROU”) assets and operating lease liabilities of $70.7 million and $71.8 million , respectively. The operating lease liability included a $1.1 million fair value adjustment for leases assumed in the acquisition of HomeBancorp, Inc. (“HomeBancorp”). In addition, at the adoption date we had finance lease ROU assets and finance lease liabilities, previously classified as capital leases, of $8.8 million and $8.3 million , respectively. BancShares did not have a cumulative-effect adjustment to the opening balance of retained earnings at commencement. BancShares has no related party lease agreements. This ASU did not have a material impact on our Consolidated Statements of Income. See Note R, Leases, for additional disclosures. FASB ASU 2018-15, Intangibles - Goodwill and Other - Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract This ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include internal-use software license). This ASU requires entities to use the guidance in FASB ASC 350-40, Intangibles - Goodwill and Other - Internal Use Software , to determine whether to capitalize or expense implementation costs related to the service contract. This ASU also requires entities to (1) expense capitalized implementation costs of a hosting arrangement that is a service contract over the term of the hosting arrangement (2) present the expense related to the capitalized implementation costs in the same line item on the income statement as fees associated with the hosting element of the arrangement (3) classify payments for capitalized implementation costs in the statement of cash flows in the same manner as payments made for fees associated with the hosting element (4) present the capitalized implementation costs in the same balance sheet line item that a prepayment for the fees associated with the hosting arrangement would be presented. The amendments in this ASU are effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. BancShares adopted this standard effective July 1, 2019 on a prospective basis. As of December 31, 2019, $5.7 million of deferred implementation costs net of accumulated amortization related to cloud computing arrangements were recorded in other assets. These costs are expensed over the fixed, noncancellable term of the arrangement and are recorded to processing fees paid to third parties, consistent with the line item of the income statement where fees paid for the associated hosted service are recorded. FASB ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments In 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities that simplified the application of hedge accounting in certain situations and allowed an entity to make a one-time election to reclassify a prepayable debt security from held to maturity to available for sale if the debt security is eligible to be hedged in accordance with ASC 815-20-25-12A (last-of-layer method). In April of 2019, the FASB issued ASU 2019-04, which clarifies certain aspects of Topic 815, including an extension on the ability to elect to transfer securities under ASU 2017-12. BancShares adopted ASU 2017-12 effective January 1, 2019, though the standard was immaterial to BancShares upon adoption and no transfer of securities from held to maturity to available for sale was made. BancShares adopted ASU 2019-04 as of November 1, 2019 on a prospective basis and elected to reclassify eligible debt securities from held to maturity to available for sale. The book value of securities transferred was $2.08 billion with a fair value of $2.15 billion . The transfer resulted in a $72.5 million reclassification of unrealized losses that were previously frozen in accumulated other comprehensive income as a result of a transfer to held to maturity in the second quarter of 2018. This also resulted in recording an additional unrealized gain on the available for sale securities of $1.6 million and offset by a $16.7 million unwind of deferred tax assets, resulting in an increase to total assets and equity of $57.4 million . Recently Issued Accounting Pronouncements FASB ASU 2018-14 - Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans This ASU modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans by eliminating the requirement to disclose the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year and adding a requirement to disclose an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. The amendments in this ASU are effective for public entities for fiscal years ending after December 15, 2020. Early adoption is permitted for all entities. BancShares will adopt all applicable amendments and update the disclosures as appropriate during the fourth quarter of 2020. FASB ASU 2018-13 - Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement This ASU modifies the disclosure requirements on fair value measurements by eliminating the requirements to disclose (i) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy; (ii) the policy for timing of transfers between levels; and (iii) the valuation processes for Level 3 fair value measurements. This ASU also added specific disclosure requirements for fair value measurements for public entities including the requirement to disclose the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2019, and all interim periods within those fiscal years. Early adoption is permitted upon issuance of the ASU. Entities are permitted to early adopt amendments that remove or modify disclosures and delay the adoption of the additional disclosures until their effective date. BancShares will adopt all applicable amendments and update the disclosures as appropriate during the first quarter of 2020. FASB ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment This ASU eliminates Step 2 from the goodwill impairment test. Under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in this ASU, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. This ASU eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative test. This ASU will be effective for BancShares’ annual or interim goodwill impairment tests for fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We expect to adopt the guidance for our annual impairment test in fiscal year 2020. BancShares does not anticipate any impact to our consolidated financial position or consolidated results of operations as a result of the adoption. FASB ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments This ASU introduces a new credit loss methodology which requires earlier recognition of credit losses, replacing multiple existing impairment methods in current GAAP, which generally require a loss to be incurred before it is recognized. The amendments in this ASU require loss estimates be determined over the lifetime of the asset and broaden the information an entity must consider in developing its expected credit losses. The ASU does not specify a method for measuring expected credit losses and allows an entity to apply methods that reasonably reflect its expectations of the credit loss estimate based on the entity’s size, complexity and risk profile. For BancShares, the standard will apply to loans, unfunded loan commitments and debt securities. A cross-functional team co-led by Corporate Finance and Risk Management was established to implement the new standard. We have completed initial current expected credit loss (“CECL”) models and accounting interpretations. We continue to refine and test our models, estimation techniques, operational processes and controls to be used in preparing CECL loss estimates and related financial statement disclosures. We have also evaluated our debt securities portfolio to determine the impact of adoption of CECL. Given the majority of our debt securities are issued by government sponsored entities, we expect very minimal, if any, impact at adoption. The CECL calculated losses on the loan portfolio are derived using estimated probability of default and loss given default models based on historical loss experience, borrower characteristics, forecasts of relevant economic conditions and other factors. We are using a two-year reasonable and supportable forecast period that incorporates one economic forecast, with a 12-month straight-line reversion period to historical averages. The outstanding loans are bifurcated between commercial and non-commercial loan portfolios and then further segmented into pools with similar risk characteristics. The commercial portfolio, comprising the majority of our total loans, consists primarily of loans with short contractual maturities and is expected to result in a reduction to the allowance for credit losses. This reduction is expected to be partially offset by an increase in the allowance for credit losses on the non-commercial portfolio as these assets have longer contractual maturities, as well as an increase in reserves for the acquired loan portfolios. Additionally, the reserve for unfunded commitments is expected to increase due to the change in scope under ASU 2016-13. BancShares continues to evaluate the impact of this standard on its consolidated financial statements but expects the aggregate allowance for credit losses to decrease 15% to 20% with an initial increase to retained earnings of $32 - $42 million . The allowance associated with PCD loans did not have an impact on retained earnings as the CECL reserve is essentially replacing the existing non-accretable discount. The release of existing reserves due to the implementation of CECL will result in an increase to total risk-based capital and a decrease in Tier 1 Capital. The changes to capital are not expected to be significant. The amendments in this ASU are effective for public business entities for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. BancShares adopted the guidance in the first quarter of 2020 using a modified retrospective approach with a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption. |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Business Combinations [Abstract] | |
Schedule of Assets Acquired and Liabilities Assumed | The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase price $ 37,486 Assets Cash and due from banks $ 4,633 Overnight investments 3,188 Investment securities 23,512 Loans 179,243 Premises and equipment 4,944 Other real estate owned 1,567 Income earned not collected 604 Intangible assets 2,268 Other assets 19,192 Total assets acquired 239,151 Liabilities Deposits 207,556 Borrowings 5,155 Other liabilities 2,850 Total liabilities assumed $ 215,561 Fair value of net assets acquired 23,590 Goodwill recorded for First South Bancorp $ 13,896 The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values. (Dollars in thousands) As recorded by FCB Purchase price $ 222,750 Assets Cash and due from banks $ 59,815 Overnight investments 242,770 Investment securities 227,834 Loans 1,031,186 Premises and equipment 24,458 Other real estate owned 1,846 Income earned not collected 5,447 Intangible assets 6,899 Other assets 81,069 Total assets acquired 1,681,324 Liabilities Deposits 1,326,967 Borrowings 169,433 Other liabilities 14,808 Total liabilities assumed $ 1,511,208 Fair value of net assets acquired 170,116 Goodwill recorded for Entegra $ 52,634 The following table provides the purchase price as of the acquisition date and the identifiable assets acquired and liabilities assumed at their estimated fair values: (Dollars in thousands) As recorded by FCB Purchase price $ 118,949 Assets Cash and due from banks $ 78,010 Overnight investments 306 Investment securities held to maturity 34,539 Loans 863,384 Premises and equipment 1,533 Other real estate owned 2,046 Income earned not collected 3,049 Intangible assets 4,745 Other assets 41,572 Total assets acquired 1,029,184 Liabilities Deposits 786,512 Borrowings 157,415 Accrued interest payable — Other liabilities 12,829 Total liabilities assumed $ 956,756 Fair value of net assets acquired 72,428 Goodwill recorded for Biscayne Bancshares $ 46,521 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments [Abstract] | |
Aggregate Values And Unrealized Gains And Losses Of Investment Securities | The amortized cost and fair value of investment and marketable equity securities at December 31, 2019 and 2018 , were as follows: December 31, 2019 (Dollars in thousands) Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities available for sale U.S. Treasury $ 409,397 $ 602 $ — $ 409,999 Government agency 684,085 928 2,241 682,772 Residential mortgage-backed securities 5,269,060 13,417 15,387 5,267,090 Commercial mortgage-backed securities 373,105 6,974 59 380,020 Corporate bonds 198,278 3,420 132 201,566 State, county and municipal 118,227 — — 118,227 Total investment securities available for sale $ 7,052,152 $ 25,341 $ 17,819 $ 7,059,674 Investment in marketable equity securities 59,262 23,304 233 82,333 Investment securities held to maturity Other 30,996 — — 30,996 Total investment securities $ 7,142,410 $ 48,645 $ 18,052 $ 7,173,003 December 31, 2018 Cost Gross unrealized gains Gross unrealized losses Fair value Investment securities available for sale U.S. Treasury $ 1,249,243 $ 633 $ 2,166 $ 1,247,710 Government agency 257,252 222 639 256,835 Residential mortgage-backed securities 2,956,793 5,309 52,763 2,909,339 Corporate bonds 143,829 261 864 143,226 Total investment securities available for sale $ 4,607,117 $ 6,425 $ 56,432 $ 4,557,110 Investment in marketable equity securities 73,809 19,010 220 92,599 Investment securities held to maturity Residential mortgage-backed securities 2,087,024 16,592 490 2,103,126 Commercial mortgage-backed securities 97,629 747 — 98,376 Total investment securities held to maturity 2,184,653 17,339 490 2,201,502 Total investment securities $ 6,865,579 $ 42,774 $ 57,142 $ 6,851,211 |
Investment Securities Maturity Information | The following table provides the amortized cost and fair value by contractual maturity. Expected maturities will differ from contractual maturities on certain securities because borrowers and issuers may have the right to call or prepay obligations with or without prepayment penalties. Residential and commercial mortgage-backed and government agency securities are stated separately as they are not due at a single maturity date. December 31, 2019 December 31, 2018 (Dollars in thousands) Cost Fair value Cost Fair value Investment securities available for sale Non-amortizing securities maturing in: One year or less $ 406,325 $ 406,927 $ 1,049,253 $ 1,047,380 One through five years 24,496 24,971 205,526 205,805 Five through 10 years 185,209 187,868 134,370 133,626 Over 10 years 109,872 110,026 3,923 4,125 Government agency 684,085 682,772 257,252 256,835 Residential mortgage-backed securities 5,269,060 5,267,090 2,956,793 2,909,339 Commercial mortgage-backed securities 373,105 380,020 — — Total investment securities available for sale $ 7,052,152 $ 7,059,674 $ 4,607,117 $ 4,557,110 Investment securities held to maturity Non-amortizing securities maturing in: One year or less 30,746 30,746 — — One through five years 250 250 — — Residential mortgage-backed securities — — 2,087,024 2,103,126 Commercial mortgage-backed securities — — 97,629 98,376 Total investment securities held to maturity $ 30,996 $ 30,996 $ 2,184,653 $ 2,201,502 |
Securities Gains (Losses) | For each period presented, realized gains on investment securities available for sale include the following: Year ended December 31 (Dollars in thousands) 2019 2018 2017 Gross gains on retirement/sales of investment securities available for sale $ 8,993 $ 353 $ 11,635 Gross losses on sales of investment securities available for sale (1,878 ) (2 ) (7,342 ) Realized gains on investment securities available for sale, net $ 7,115 $ 351 $ 4,293 |
Schedule of Realized and Unrealized Gains or Losses on Marketable Equity Securities | realized and unrealized gains or losses on marketable equity securities include the following: Year ended December 31 (Dollars in thousands) 2019 2018 Marketable equity securities gains (losses), net $ 20,625 $ (7,610 ) Less net gains recognized on marketable equity securities sold 16,344 1,190 Unrealized (losses) gains recognized on marketable equity securities held $ 4,281 $ (8,800 ) |
Investment Securities With Unrealized Losses | The following table provides information regarding investment securities with unrealized losses as of December 31, 2019 and 2018 : December 31, 2019 Less than 12 months 12 months or more Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale Government agency $ 347,081 $ 1,827 $ 63,947 $ 414 $ 411,028 $ 2,241 Residential mortgage-backed securities 2,387,293 14,016 264,257 1,371 2,651,550 15,387 Commercial mortgage-backed securities 35,926 59 — — 35,926 59 Corporate bonds 7,714 123 4,749 9 12,463 132 Total $ 2,778,014 $ 16,025 $ 332,953 $ 1,794 $ 3,110,967 $ 17,819 December 31, 2018 Less than 12 months 12 months or more Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Investment securities available for sale U.S. Treasury $ 248,983 $ 113 $ 848,622 $ 2,053 $ 1,097,605 $ 2,166 Government agency 115,273 601 2,310 38 117,583 639 Residential mortgage-backed securities 262,204 2,387 1,940,695 50,376 2,202,899 52,763 Corporate bonds 79,066 842 5,000 22 84,066 864 Total $ 705,526 $ 3,943 $ 2,796,627 $ 52,489 $ 3,502,153 $ 56,432 Investment securities held to maturity Residential mortgage-backed securities $ 5,111 $ 181 $ 10,131 $ 309 $ 15,242 $ 490 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Changes in Carrying Value of Accretable Yield for PCI Loans [Table Text Block] | The following table summarizes changes to the amount of accretable yield for 2019 , 2018 and 2017 . (Dollars in thousands) 2019 2018 2017 Balance at January 1 $ 312,894 $ 316,679 $ 335,074 Additions from acquisitions 17,403 6,393 44,120 Accretion (57,687 ) (61,502 ) (76,594 ) Reclassifications from nonaccretable difference 6,489 5,980 18,901 Changes in expected cash flows that do not affect nonaccretable difference (27,964 ) 45,344 (4,822 ) Balance at December 31 $ 251,135 $ 312,894 $ 316,679 |
Loans And Leases Outstanding | Loans and leases outstanding include the following at December 31, 2019 and 2018 : (Dollars in thousands) December 31, 2019 December 31, 2018 Non-PCI loans and leases: Commercial: Construction and land development $ 1,013,454 $ 757,854 Commercial mortgage 12,282,635 10,717,234 Other commercial real estate 542,028 426,985 Commercial and industrial and leases 4,403,792 3,938,730 Other 310,093 296,424 Total commercial loans 18,552,002 16,137,227 Noncommercial: Residential mortgage 5,293,917 4,265,687 Revolving mortgage 2,339,072 2,542,975 Construction and land development 357,385 257,030 Consumer 1,780,404 1,713,781 Total noncommercial loans 9,770,778 8,779,473 Total non-PCI loans and leases 28,322,780 24,916,700 Total PCI loans 558,716 606,576 Total loans and leases $ 28,881,496 $ 25,523,276 |
Composition Of The Loans And Leases Outstanding By Credit Quality Indicator | outstanding at December 31, 2019 and December 31, 2018 , by credit quality indicator are provided below: December 31, 2019 Non-PCI commercial loans and leases (Dollars in thousands) Construction and Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Total non-PCI commercial loans and leases Pass $ 1,004,922 $ 12,050,799 $ 536,682 $ 4,256,456 $ 308,796 $ 18,157,655 Special mention 2,577 115,164 3,899 44,604 622 166,866 Substandard 5,955 116,672 1,447 34,148 675 158,897 Doubtful — — — 3 — 3 Ungraded — — — 68,581 — 68,581 Total $ 1,013,454 $ 12,282,635 $ 542,028 $ 4,403,792 $ 310,093 $ 18,552,002 December 31, 2018 Non-PCI commercial loans and leases Construction and Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Total non-PCI commercial loans and leases Pass $ 753,985 $ 10,507,687 $ 422,500 $ 3,778,797 $ 294,700 $ 15,757,669 Special mention 1,369 114,219 3,193 54,814 1,105 174,700 Substandard 2,500 92,743 1,292 30,688 619 127,842 Doubtful — — — 354 — 354 Ungraded — 2,585 — 74,077 — 76,662 Total $ 757,854 $ 10,717,234 $ 426,985 $ 3,938,730 $ 296,424 $ 16,137,227 December 31, 2019 Non-PCI noncommercial loans and leases (Dollars in thousands) Residential mortgage Revolving mortgage Construction and land development Consumer Total non-PCI noncommercial loans and leases Current $ 5,205,380 $ 2,316,010 $ 354,393 $ 1,762,606 $ 9,638,389 30-59 days past due 45,839 9,729 977 10,481 67,026 60-89 days past due 18,289 3,468 218 3,746 25,721 90 days or greater past due 24,409 9,865 1,797 3,571 39,642 Total $ 5,293,917 $ 2,339,072 $ 357,385 $ 1,780,404 $ 9,770,778 December 31, 2018 Non-PCI noncommercial loans and leases Residential mortgage Revolving mortgage Construction and land development Consumer Total non-PCI noncommercial loans and leases Current $ 4,214,783 $ 2,514,269 $ 254,837 $ 1,696,321 $ 8,680,210 30-59 days past due 28,239 12,585 581 10,035 51,440 60-89 days past due 7,357 4,490 21 3,904 15,772 90 days or greater past due 15,308 11,631 1,591 3,521 32,051 Total $ 4,265,687 $ 2,542,975 $ 257,030 $ 1,713,781 $ 8,779,473 December 31, 2019 December 31, 2018 (Dollars in thousands) PCI commercial loans Pass $ 148,412 $ 141,922 Special mention 44,290 48,475 Substandard 87,970 101,447 Doubtful 3,657 4,828 Ungraded — — Total $ 284,329 $ 296,672 December 31, 2019 December 31, 2018 (Dollars in thousands) PCI noncommercial loans Current $ 240,995 $ 268,280 30-89 days past due 13,764 11,155 60-89 days past due 5,608 7,708 90 days or greater past due 14,020 22,761 Total $ 274,387 $ 309,904 |
Aging Of The Outstanding Loans And Leases By Class Excluding Loans Impaired At Acquisition Date | The aging of the outstanding non-PCI loans and leases, by class, at December 31, 2019 , and December 31, 2018 is provided in the tables below. Loans and leases 30 days or less past due are considered current, as various grace periods allow borrowers to make payments within a stated period after the due date and still remain in compliance with the loan agreement. December 31, 2019 (Dollars in thousands) 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Commercial: Construction and land development $ 3,146 $ 195 $ 2,702 $ 6,043 $ 1,007,411 $ 1,013,454 Commercial mortgage 20,389 8,774 8,319 37,482 12,245,153 12,282,635 Other commercial real estate 861 331 698 1,890 540,138 542,028 Commercial and industrial and leases 18,269 4,842 5,032 28,143 4,375,649 4,403,792 Other 51 411 126 588 309,505 310,093 Total commercial loans 42,716 14,553 16,877 74,146 18,477,856 18,552,002 Noncommercial: Residential mortgage 45,839 18,289 24,409 88,537 5,205,380 5,293,917 Revolving mortgage 9,729 3,468 9,865 23,062 2,316,010 2,339,072 Construction and land development 977 218 1,797 2,992 354,393 357,385 Consumer 10,481 3,746 3,571 17,798 1,762,606 1,780,404 Total noncommercial loans 67,026 25,721 39,642 132,389 9,638,389 9,770,778 Total non-PCI loans and leases $ 109,742 $ 40,274 $ 56,519 $ 206,535 $ 28,116,245 $ 28,322,780 December 31, 2018 30-59 days past due 60-89 days past due 90 days or greater Total past due Current Total loans and leases Non-PCI loans and leases: Commercial: Construction and land development $ 516 $ 9 $ 444 $ 969 $ 756,885 $ 757,854 Commercial mortgage 14,200 2,066 3,237 19,503 10,697,731 10,717,234 Other commercial real estate 91 76 300 467 426,518 426,985 Commercial and industrial and leases 9,655 1,759 2,892 14,306 3,924,424 3,938,730 Other 285 — 89 374 296,050 296,424 Total commercial loans 24,747 3,910 6,962 35,619 16,101,608 16,137,227 Noncommercial: Residential mortgage 28,239 7,357 15,308 50,904 4,214,783 4,265,687 Revolving mortgage 12,585 4,490 11,631 28,706 2,514,269 2,542,975 Construction and land development 581 21 1,591 2,193 254,837 257,030 Consumer 10,035 3,904 3,521 17,460 1,696,321 1,713,781 Total noncommercial loans 51,440 15,772 32,051 99,263 8,680,210 8,779,473 Total non-PCI loans and leases $ 76,187 $ 19,682 $ 39,013 $ 134,882 $ 24,781,818 24,916,700 |
Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing | December 31, 2019 December 31, 2018 (Dollars in thousands) Nonaccrual loans and leases Loans and leases > 90 days and accruing Nonaccrual loans and leases Loans and leases > 90 days and accruing Commercial: Construction and land development $ 4,281 $ — $ 666 $ — Commercial mortgage 29,733 — 12,594 — Commercial and industrial and leases 7,365 1,094 4,624 808 Other commercial real estate 708 — 366 — Other 320 — 279 — Total commercial loans 42,407 1,094 18,529 808 Noncommercial: Construction and land development 2,828 — 1,823 — Residential mortgage 44,357 45 35,662 — Revolving mortgage 22,411 — 25,563 — Consumer 2,943 2,152 2,969 2,080 Total noncommercial loans 72,539 2,197 66,017 2,080 Total non-PCI loans and leases $ 114,946 $ 3,291 $ 84,546 $ 2,888 |
Schedule of Contractually Required Payments Including Principal and Interest Expected Cash Flows to be Collected and Fair Values [Table Text Block] | The following table relates to PCI loans acquired in 2019 and 2018 and summarizes the contractually required payments, which include principal and interest, expected cash flows to be collected, and the fair value of PCI loans at the respective acquisition dates. 2019 2018 (Dollars in thousands) Entegra First South Bancorp Biscayne Bancshares Palmetto Heritage Capital Commerce HomeBancorp Contractually required payments $ 103,441 $ 23,389 $ 19,720 $ 4,783 $ 13,871 $ 26,651 Cash flows expected to be collected 82,503 21,392 16,815 4,112 11,814 19,697 Fair value at acquisition date 77,507 16,398 13,032 3,863 10,772 15,555 |
Changes In Carrying Value Of Acquired Impaired Loans | The recorded fair values of PCI loans acquired in 2019 and 2018 as of their respective acquisition date were as follows: 2019 2018 (Dollars in thousands) Entegra First South Bancorp Biscayne Bancshares Palmetto Heritage Capital Commerce HomeBancorp Commercial: Construction and land development $ 10,326 $ 1,233 $ — $ 212 $ 1,482 $ — Commercial mortgage 30,316 9,355 7,589 1,053 1,846 7,815 Other commercial real estate 1,734 — — — — — Commercial and industrial 1,363 1,202 1,660 372 922 423 Other 1,731 — — — — — Total commercial loans 45,470 11,790 9,249 1,637 4,250 8,238 Noncommercial: Residential mortgage 24,989 4,591 3,783 2,226 6,503 7,317 Revolving mortgage 5,582 — — — — — Construction and land development 1,114 17 — — — — Consumer 352 — — — 19 — Total noncommercial loans 32,037 4,608 3,783 2,226 6,522 7,317 Total PCI loans $ 77,507 $ 16,398 $ 13,032 $ 3,863 $ 10,772 $ 15,555 The following table provides changes in the carrying value of all PCI loans during the years ended December 31, 2019 , 2018 and 2017 : (Dollars in thousands) 2019 2018 2017 Balance at January 1 $ 606,576 $ 762,998 $ 809,169 Fair value of PCI loans acquired during the year 106,937 30,190 199,682 Accretion (1) 57,687 61,502 76,594 Payments received and other changes, net (212,484 ) (248,114 ) (322,447 ) Balance at December 31 $ 558,716 $ 606,576 $ 762,998 Unpaid principal balance at December 31 $ 768,391 $ 960,457 $ 1,175,441 (1) Accretion is recorded in interest income from loans and leases |
Changes In The Amount Of Accretable Yield | Purchased non-PCI loans and leases The following table relates to purchased non-PCI loans acquired in 2019 and 2018 and summarizes the contractually required payments, which include principal and interest, estimate of contractual cash flows not expected to be collected and fair value of the acquired loans at the acquisition date. 2019 2018 (Dollars in thousands) Entegra First South Bancorp Biscayne Bancshares Palmetto Heritage Capital Commerce HomeBancorp Contractually required payments $ 1,135,451 $ 175,465 $ 1,078,854 $ 142,413 $ 198,568 $ 710,876 Fair value at acquisition date 953,679 162,845 850,352 131,283 173,354 550,618 The recorded fair values of purchased non-PCI loans acquired in 2019 and 2018 as of their respective acquisition date were as follows: 2019 2018 (Dollars in thousands) Entegra First South Bancorp Biscayne Bancshares Palmetto Heritage Capital Commerce HomeBancorp Commercial: Construction and land development $ 92,495 $ 8,663 $ 15,647 $ 13,186 $ 10,299 $ 525 Commercial mortgage 381,729 74,713 203,605 29,225 57,049 188,688 Other commercial real estate 28,678 7,509 98,107 753 6,370 55,183 Commercial and industrial and leases 27,062 40,208 28,135 8,153 34,301 7,931 Other 4,741 — — 1,039 — — Total commercial loans and leases 534,705 131,093 345,494 52,356 108,019 252,327 Noncommercial: Residential mortgage 310,039 24,641 405,419 59,076 50,630 296,273 Revolving mortgage 36,701 2,162 54,081 6,175 2,552 51 Construction and land development 51,786 3,552 31,668 11,103 11,173 — Consumer 20,448 1,397 13,690 2,573 980 1,967 Total noncommercial loans and leases 418,974 31,752 504,858 78,927 65,335 298,291 Total non-PCI loans $ 953,679 $ 162,845 $ 850,352 $ 131,283 $ 173,354 $ 550,618 |
Schedule of Loans Receivable (T
Schedule of Loans Receivable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Loans And Leases Outstanding | Loans and leases outstanding include the following at December 31, 2019 and 2018 : (Dollars in thousands) December 31, 2019 December 31, 2018 Non-PCI loans and leases: Commercial: Construction and land development $ 1,013,454 $ 757,854 Commercial mortgage 12,282,635 10,717,234 Other commercial real estate 542,028 426,985 Commercial and industrial and leases 4,403,792 3,938,730 Other 310,093 296,424 Total commercial loans 18,552,002 16,137,227 Noncommercial: Residential mortgage 5,293,917 4,265,687 Revolving mortgage 2,339,072 2,542,975 Construction and land development 357,385 257,030 Consumer 1,780,404 1,713,781 Total noncommercial loans 9,770,778 8,779,473 Total non-PCI loans and leases 28,322,780 24,916,700 Total PCI loans 558,716 606,576 Total loans and leases $ 28,881,496 $ 25,523,276 |
Allowance for Loan and Lease _2
Allowance for Loan and Lease Losses Allowance for Loan and Lease Losses (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Receivables [Abstract] | |
Allocation of Allowance for Loan and Lease Losses | Activity in the allowance for non-PCI loan and lease losses by class of loans is summarized as follows: Years ended December 31, 2019, 2018, and 2017 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non- commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: Balance at January 1, 2017 $ 28,877 $ 48,278 $ 3,269 $ 56,132 $ 3,127 $ 14,447 $ 21,013 $ 1,596 $ 28,287 $ 205,026 Provision (credits) (4,329 ) (5,694 ) 1,280 11,624 2,189 2,096 2,509 2,366 17,098 29,139 Charge-offs (599 ) (421 ) (5 ) (11,921 ) (912 ) (1,376 ) (2,368 ) — (18,784 ) (36,386 ) Recoveries 521 2,842 27 3,989 285 539 1,282 — 4,603 14,088 Balance at December 31, 2017 24,470 45,005 4,571 59,824 4,689 15,706 22,436 3,962 31,204 211,867 Provision (credits) 10,533 (1,490 ) (2,171 ) 2,511 (2,827 ) 897 1,112 (1,520 ) 22,187 29,232 Charge-offs (44 ) (1,140 ) (69 ) (10,211 ) (130 ) (1,689 ) (3,235 ) (219 ) (22,817 ) (39,554 ) Recoveries 311 1,076 150 3,496 489 558 1,549 127 5,267 13,023 Balance at December 31, 2018 35,270 43,451 2,481 55,620 2,221 15,472 21,862 2,350 35,841 214,568 Provision (credits) (2,171 ) 2,384 (285 ) 14,212 (754 ) 3,481 (788 ) 359 16,611 33,049 Charge-offs (196 ) (1,096 ) — (13,352 ) (100 ) (1,137 ) (2,584 ) — (24,562 ) (43,027 ) Recoveries 310 596 15 2,894 869 416 1,212 — 6,703 13,015 Balance at December 31, 2019 $ 33,213 $ 45,335 $ 2,211 $ 59,374 $ 2,236 $ 18,232 $ 19,702 $ 2,709 $ 34,593 $ 217,605 The following tables present the allowance and recorded investment in loans and leases by class of loans, as well as the associated impairment method at December 31, 2019 and December 31, 2018 . December 31, 2019 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 463 $ 3,650 $ 39 $ 1,379 $ 103 $ 3,278 $ 2,722 $ 174 $ 1,107 $ 12,915 ALLL for loans and leases collectively evaluated for impairment 32,750 41,685 2,172 57,995 2,133 14,954 16,980 2,535 33,486 204,690 Total allowance for loan and lease losses $ 33,213 $ 45,335 $ 2,211 $ 59,374 $ 2,236 $ 18,232 $ 19,702 $ 2,709 $ 34,593 $ 217,605 Loans and leases: Loans and leases individually evaluated for impairment $ 4,655 $ 70,149 $ 1,268 $ 12,182 $ 639 $ 60,442 $ 28,869 $ 3,882 $ 3,513 $ 185,599 Loans and leases collectively evaluated for impairment 1,008,799 12,212,486 540,760 4,391,610 309,454 5,233,475 2,310,203 353,503 1,776,891 28,137,181 Total loan and leases $ 1,013,454 $ 12,282,635 $ 542,028 $ 4,403,792 $ 310,093 $ 5,293,917 $ 2,339,072 $ 357,385 $ 1,780,404 $ 28,322,780 December 31, 2018 (Dollars in thousands) Construction and land development - commercial Commercial mortgage Other commercial real estate Commercial and industrial and leases Other Residential mortgage Revolving mortgage Construction and land development - non-commercial Consumer Total Non-PCI Loans Allowance for loan and lease losses: ALLL for loans and leases individually evaluated for impairment $ 490 $ 2,671 $ 42 $ 1,137 $ 105 $ 1,901 $ 2,515 $ 81 $ 885 $ 9,827 ALLL for loans and leases collectively evaluated for impairment 34,780 40,780 2,439 54,483 2,116 13,571 19,347 2,269 34,956 204,741 Total allowance for loan and lease losses $ 35,270 $ 43,451 $ 2,481 $ 55,620 $ 2,221 $ 15,472 $ 21,862 $ 2,350 $ 35,841 $ 214,568 Loans and leases: Loans and leases individually evaluated for impairment $ 2,175 $ 55,447 $ 860 $ 9,868 $ 291 $ 42,168 $ 28,852 $ 3,749 $ 3,020 $ 146,430 Loans and leases collectively evaluated for impairment 755,679 10,661,787 426,125 3,928,862 296,133 4,223,519 2,514,123 253,281 1,710,761 24,770,270 Total loan and leases $ 757,854 $ 10,717,234 $ 426,985 $ 3,938,730 $ 296,424 $ 4,265,687 $ 2,542,975 $ 257,030 $ 1,713,781 $ 24,916,700 Activity in the PCI allowance and balances for years ended December 31, 2019 , 2018 and 2017 is summarized as follows: (Dollars in thousands) 2019 2018 2017 Allowance for loan losses: Balance at January 1 $ 9,144 $ 10,026 $ 13,769 Provision credits (1,608 ) (765 ) (3,447 ) Charge-offs — (117 ) (296 ) Recoveries — — — Balance at December 31 $ 7,536 $ 9,144 $ 10,026 The following table presents the PCI allowance and recorded investment in loans at December 31, 2019 and 2018 . (Dollars in thousands) December 31, 2019 December 31, 2018 Allowance for loan losses: ALLL for loans acquired with deteriorated credit quality $ 7,536 $ 9,144 Loans acquired with deteriorated credit quality 558,716 606,576 |
Allowance for Loan and Lease Losses | The following tables present the recorded investment and related allowance in non-PCI impaired loans and leases by class of loans, as well as the unpaid principle balance. December 31, 2019 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Commercial: Construction and land development $ 1,851 $ 2,804 $ 4,655 $ 5,109 $ 463 Commercial mortgage 42,394 27,755 70,149 74,804 3,650 Other commercial real estate 318 950 1,268 1,360 39 Commercial and industrial and leases 7,547 4,635 12,182 13,993 1,379 Other 406 233 639 661 103 Total commercial loans 52,516 36,377 88,893 95,927 5,634 Noncommercial: Residential mortgage 48,796 11,646 60,442 64,741 3,278 Revolving mortgage 26,104 2,765 28,869 31,960 2,722 Construction and land development 2,470 1,412 3,882 4,150 174 Consumer 3,472 41 3,513 3,821 1,107 Total noncommercial loans $ 80,842 $ 15,864 $ 96,706 $ 104,672 $ 7,281 Total non-PCI impaired loans and leases $ 133,358 $ 52,241 $ 185,599 $ 200,599 $ 12,915 December 31, 2018 (Dollars in thousands) With a recorded allowance With no recorded allowance Total Unpaid Related allowance recorded Non-PCI impaired loans and leases Commercial: Construction and land development $ 1,897 $ 278 $ 2,175 $ 2,606 $ 490 Commercial mortgage 34,177 21,270 55,447 61,317 2,671 Other commercial real estate 243 617 860 946 42 Commercial and industrial and leases 7,153 2,715 9,868 14,695 1,137 Other 216 75 291 301 105 Total commercial loans 43,686 24,955 68,641 79,865 4,445 Noncommercial: Residential mortgage 40,359 1,809 42,168 45,226 1,901 Revolving mortgage 25,751 3,101 28,852 31,371 2,515 Construction and land development 2,337 1,412 3,749 4,035 81 Consumer 2,940 80 3,020 3,405 885 Total noncommercial loans 71,387 6,402 77,789 84,037 5,382 Total non-PCI impaired loans and leases $ 115,073 $ 31,357 $ 146,430 $ 163,902 $ 9,827 Non-PCI impaired loans less than $500,000 that were collectively evaluated were $41.0 million and $47.1 million at December 31, 2019 , and 2018 , respectively. The following tables show the average non-PCI impaired loan balance and the interest income recognized by loan class for the years ended December 31, 2019 , 2018 and 2017 : 2019 2018 2017 (Dollars in thousands) Average Balance Interest Income Recognized Average Balance Interest Income Recognized Average Balance Interest Income Recognized Non-PCI impaired loans and leases: Commercial: Construction and land development $ 3,915 $ 53 $ 1,734 $ 84 $ 858 $ 37 Commercial mortgage 64,363 2,188 65,943 2,569 73,815 2,596 Other commercial real estate 919 27 1,225 43 1,642 34 Commercial and industrial and leases 11,884 482 9,560 364 11,600 427 Other 396 11 135 3 426 22 Total commercial 81,477 2,761 78,597 3,063 88,341 3,116 Noncommercial: Residential mortgage 52,045 1,386 41,368 1,237 33,818 990 Revolving mortgage 29,516 1,009 26,759 900 14,022 436 Construction and land development 3,589 116 3,677 172 3,383 145 Consumer 3,311 138 2,722 116 2,169 103 Total noncommercial 88,461 2,649 74,526 2,425 53,392 1,674 Total non-PCI impaired loans and leases $ 169,938 $ 5,410 $ 153,123 $ 5,488 $ 141,733 $ 4,790 |
Troubled Debt Restructuring, Summary of Accrual Status | The following table provides a summary of total TDRs by accrual status. Total TDRs at December 31, 2019 , were $171.2 million , of which $154.0 million were non-PCI and $17.2 million were PCI. Total TDRs at December 31, 2018 , were $156.1 million , of which $137.9 million were non-PCI and $18.2 million were PCI. Total TDRs at December 31, 2017 , were $164.6 million , of which $146.1 million were non-PCI and $18.5 million were PCI. December 31, 2019 December 31, 2018 December 31, 2017 (Dollars in thousands) Accruing Nonaccruing Total Accruing Nonaccruing Total Accruing Nonaccruing Total Commercial loans: Construction and land development $ 487 $ 2,279 $ 2,766 $ 1,946 $ 352 $ 2,298 $ 4,089 $ 483 $ 4,572 Commercial mortgage 50,819 11,116 61,935 53,270 7,795 61,065 62,358 15,863 78,221 Other commercial real estate 571 — 571 851 9 860 1,012 788 1,800 Commercial and industrial and leases 9,430 2,409 11,839 7,986 2,060 10,046 8,320 1,958 10,278 Other 320 105 425 118 173 291 521 — 521 Total commercial loans 61,627 15,909 77,536 64,171 10,389 74,560 76,300 19,092 95,392 Noncommercial: Residential mortgage 41,813 16,048 57,861 37,903 9,621 47,524 34,067 9,475 43,542 Revolving mortgage 21,032 7,367 28,399 20,492 8,196 28,688 17,673 5,180 22,853 Construction and land development 1,452 2,430 3,882 2,227 110 2,337 — — — Consumer 2,826 688 3,514 2,300 721 3,021 2,351 423 2,774 Total noncommercial loans 67,123 26,533 93,656 62,922 18,648 81,570 54,091 15,078 69,169 Total loans $ 128,750 $ 42,442 $ 171,192 $ 127,093 $ 29,037 $ 156,130 $ 130,391 $ 34,170 $ 164,561 |
Troubled Debt Restructurings on Financing Receivables | 2019 2018 2017 All restructurings Restructurings with payment default All restructurings Restructurings with payment default All restructurings Restructurings with payment default Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end Number of Loans Recorded investment at period end (Dollars in thousands) Loans and leases Interest only period provided Commercial loans 11 $ 1,595 1 $ 238 3 $ 1,003 — $ — 5 $ 1,124 1 $ 634 Noncommercial loans 7 4,018 2 2,717 — — — — 1 82 — — Total interest only 18 5,613 3 2,955 3 1,003 — — 6 1,206 1 634 Loan term extension Commercial loans 16 3,904 5 533 21 3,933 4 675 13 3,007 — — Noncommercial loans 2 342 1 306 21 1,554 4 190 34 3,510 2 273 Total loan term extension 18 4,246 6 839 42 5,487 8 865 47 6,517 2 273 Below market interest rate Commercial loans 90 13,932 24 2,634 85 12,859 24 2,998 92 14,811 32 3,392 Noncommercial loans 176 12,458 66 4,014 184 15,545 68 5,461 271 15,601 78 4,591 Total below market interest rate 266 26,390 90 6,648 269 28,404 92 8,459 363 30,412 110 7,983 Discharged from bankruptcy Commercial loans 25 5,571 20 5,028 26 2,043 8 825 39 3,012 26 708 Noncommercial loans 178 10,349 71 4,239 151 6,617 56 3,169 177 7,853 65 2,392 Total discharged from bankruptcy 203 15,920 91 9,267 177 8,660 64 3,994 216 10,865 91 3,100 Total restructurings 505 $ 52,169 190 $ 19,709 491 $ 43,554 164 $ 13,318 632 $ 49,000 204 $ 11,990 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | Major classifications of premises and equipment at December 31, 2019 and 2018 are summarized as follows: (Dollars in thousands) Useful Life ( years ) 2019 2018 Land indefinite $ 335,093 $ 306,734 Premises and leasehold improvements 3 - 40 1,228,588 1,228,582 Furniture, equipment and software 3 - 10 595,686 560,923 Total 2,159,367 2,096,239 Less accumulated depreciation and amortization 914,971 892,060 Total premises and equipment $ 1,244,396 $ 1,204,179 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Banking and Thrift [Abstract] | |
Changes in Other Real Estate Owned | The following table explains changes in other real estate owned during 2019 and 2018 . (Dollars in thousands) OREO Balance at January 1, 2018 $ 51,097 Additions 24,997 Acquired in business combinations 4,454 Sales (28,128 ) Write-downs/losses (4,390 ) Balance at December 31, 2018 48,030 Additions 21,684 Acquired in business combinations 5,459 Sales (24,432 ) Write-downs/losses (4,150 ) Balance at December 31, 2019 $ 46,591 At December 31, 2019 and 2018 , BancShares had $14.5 million and $17.2 million , respectively, of foreclosed residential real estate property in OREO. The recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure was $23.0 million and $22.0 million at December 31, 2019 , and 2018 , respectively. Gains recorded on the sale of OREO were $1.5 million and $1.2 million for the years ended December 31, 2019 and 2018, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill [Line Items] | |
Changes in Goodwill | The following table presents the changes in the carrying amount of goodwill as of December 31, 2019 and 2018 : Year ended December 31 (Dollars in thousands) 2019 2018 Beginning Balance $ 236,347 $ 150,601 Recognized in the Biscayne Bancshares acquisition 46,521 — Recognized in the First South Bancorp acquisition 13,896 — Recognized in the Entegra acquisition 52,634 — Recognized in HomeBancorp acquisition — 57,616 Recognized in Capital Commerce acquisition — 10,680 Recognized in Palmetto Heritage acquisition — 17,450 Balance at December 31 $ 349,398 $ 236,347 |
Mortgage Servicing Rights Key Economic Assumptions Used to Value | Key economic assumptions used to value mortgage servicing rights as of December 31, 2019 and 2018 , were as follows: 2019 2018 Discount rate - conventional fixed loans 8.92 % 9.69 % Discount rate - all loans excluding conventional fixed loans 9.92 % 10.69 % Weighted average constant prepayment rate 13.72 % 9.26 % Weighted average cost to service a loan $ 87.09 $ 87.52 |
Schedule of Mortgage Servicing Rights at Amortized Cost | The activity of the mortgage servicing asset for the years ended December 31, 2019 , 2018 and 2017 is presented in the following table: (Dollars in thousands) 2019 2018 2017 Balance at January 1 $ 21,396 $ 21,945 $ 20,415 Servicing rights originated 6,149 5,258 7,174 Servicing rights acquired in Entegra transaction 1,873 — — Amortization (6,233 ) (5,807 ) (5,648 ) Valuation allowance (increase) decrease (222 ) — 4 Balance at December 31 $ 22,963 $ 21,396 $ 21,945 |
Schedule of Other Intangible Assets | The following information relates to core deposit intangible assets, which are being amortized over their estimated useful lives: (Dollars in thousands) 2019 2018 Balance at January 1 $ 48,232 $ 51,151 Acquired in Biscayne Bancshares transaction 4,745 — Acquired in First South Bancorp transaction 2,268 — Acquired in Entegra transaction 4,487 — Acquired in the HomeBancorp transaction — 9,860 Acquired in the Capital Commerce transaction — 2,680 Acquired in the Palmetto Heritage transaction — 1,706 Amortization (16,346 ) (17,165 ) Balance at December 31 $ 43,386 $ 48,232 The gross amount of core deposit intangible assets and accumulated amortization as of December 31, 2019 and 2018 , are: (Dollars in thousands) 2019 2018 Gross balance $ 154,507 $ 143,007 Accumulated amortization (111,121 ) (94,775 ) Carrying value $ 43,386 $ 48,232 |
Future Amortization Expense Schedule | Based on current estimated useful lives and carrying values, BancShares anticipates amortization expense for core deposit intangibles in subsequent periods will be: (Dollars in thousands) 2020 $ 14,165 2021 10,850 2022 7,658 2023 5,056 2024 and subsequent 5,657 $ 43,386 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Deposits [Abstract] | |
Deposits | Deposits at December 31, 2019 and 2018 were as follows: (Dollars in thousands) 2019 2018 Demand $ 12,926,796 $ 11,882,670 Checking with interest 5,782,967 5,338,511 Money market accounts 9,319,087 8,194,818 Savings 2,564,777 2,499,750 Time 3,837,609 2,756,711 Total deposits $ 34,431,236 $ 30,672,460 |
Maturities Of Time Deposits | At December 31, 2019 , the scheduled maturities of time deposits were: (Dollars in thousands) Year ended December 31 2020 $ 2,971,410 2021 306,490 2022 386,094 2023 106,782 2024 49,453 Thereafter 17,380 Total time deposits $ 3,837,609 |
FDIC Shared-Loss Payable (Table
FDIC Shared-Loss Payable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
FDIC Shared-Loss Receivable [Abstract] | |
Changes In Payable to FDIC | The following table provides changes in the FDIC shared-loss payable for the years ended December 31, 2019 and 2018 . (Dollars in thousands) 2019 2018 Beginning balance $ 105,618 $ 101,342 Accretion 6,777 4,023 Adjustments related to changes in assumptions — 253 Ending balance $ 112,395 $ 105,618 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | Long-term borrowings at December 31, 2019 and 2018 include: (Dollars in thousands) 2019 2018 Junior subordinated debenture at 3-month LIBOR plus 1.75% maturing June 30, 2036 $ 88,145 $ 88,145 Junior subordinated debenture at 3-month LIBOR plus 2.25% maturing June 15, 2034 19,588 19,588 Junior subordinated debenture at 3-month LIBOR plus 2.85% maturing April 7, 2034 10,310 10,310 Junior subordinated debenture at 3-month LIBOR plus 2.00% maturing July 7, 2036 — 4,124 Junior subordinated debentures at 3-month LIBOR plus 2.80% maturing March 30, 2034 14,433 — Junior subordinated debentures at 7.00% maturing December 31, 2026 20,000 20,000 Junior subordinated debentures at 6.50% maturing October 1, 2025 7,500 — Junior subordinated debentures at 7.13% maturing February 25, 2025 5,000 — Obligations under capitalized leases extending to December 2050 8,230 13,160 Notes payable to FHLBs of Atlanta and Chicago with rates ranging from 0.75% to 3.17% and maturing through March 2032 317,191 165,205 Unsecured term loan at 1-month LIBOR plus 1.10% maturing September 5, 2022 96,425 — Unamortized purchase accounting adjustments (1) (1,569 ) (1,426 ) Other long-term debt 3,385 761 Total long-term obligations $ 588,638 $ 319,867 |
Schedule of Maturities of Long-term Debt | Long-term borrowings maturing in each of the five years subsequent to December 31, 2019 and thereafter include: Year ended December 31 2020 $ 61,995 2021 13,332 2022 114,138 2023 125,500 2024 6,526 Thereafter 267,147 Total long-term borrowings $ 588,638 |
Shareholders' Equity, Dividen_2
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Regulatory Capital Requirements [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements | Following is an analysis of capital ratios under Basel III guidelines for BancShares and FCB as of December 31, 2019 and 2018 : December 31, 2019 December 31, 2018 (Dollars in thousands) Requirements to be well-capitalized Amount Ratio Amount Ratio BancShares Tier 1 risk-based capital 8.00 % $ 3,344,305 10.86 % $ 3,463,307 12.67 % Common equity Tier 1 6.50 3,344,305 10.86 3,463,307 12.67 Total risk-based capital 10.00 3,731,501 12.12 3,826,626 13.99 Leverage capital 5.00 3,344,305 8.81 3,463,307 9.77 FCB Tier 1 risk-based capital 8.00 3,554,974 11.54 3,315,742 12.17 Common equity Tier 1 6.50 3,554,974 11.54 3,315,742 12.17 Total risk-based capital 10.00 3,837,670 12.46 3,574,561 13.12 Leverage capital 5.00 3,554,974 9.38 3,315,742 9.39 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive loss included the following at December 31, 2019 and 2018 : December 31, 2019 December 31, 2018 (Dollars in thousands) Accumulated other comprehensive income (loss) Deferred tax expense (benefit) Accumulated other comprehensive loss, net of tax Accumulated Deferred Accumulated other comprehensive loss, net of tax Unrealized gains (losses) on securities available for sale $ 7,522 $ 1,730 $ 5,792 $ (50,007 ) $ (11,502 ) $ (38,505 ) Unrealized losses on securities available for sale transferred from (to) held to maturity — — — (92,401 ) (21,252 ) (71,149 ) Defined benefit pension items (172,098 ) (39,583 ) (132,515 ) (163,030 ) (37,497 ) (125,533 ) Total $ (164,576 ) $ (37,853 ) $ (126,723 ) $ (305,438 ) $ (70,251 ) $ (235,187 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2019 and 2018 : (Dollars in thousands) Unrealized gains (losses) on securities available-for-sale (1) Unrealized losses on securities available for sale transferred from (to) held to maturity (1)(2) Defined benefit pension items (1) Total Balance at January 1, 2018 $ (30,945 ) $ — $ (91,349 ) $ (122,294 ) Cumulative effect adjustments (3) (29,751 ) — (20,300 ) (50,051 ) Adjusted beginning balance (60,696 ) — (111,649 ) (172,345 ) Net unrealized gains (losses) arising during period 22,461 (84,321 ) (24,649 ) (86,509 ) Amounts reclassified from accumulated other comprehensive loss (270 ) 13,172 10,765 23,667 Net current period other comprehensive income (loss) 22,191 (71,149 ) (13,884 ) (62,842 ) Balance at December 31, 2018 (38,505 ) (71,149 ) (125,533 ) (235,187 ) Net unrealized gains (losses) arising during period 49,776 55,834 (15,438 ) 90,172 Amounts reclassified from accumulated other comprehensive loss (5,479 ) 15,315 8,456 18,292 Net current period other comprehensive income (loss) 44,297 71,149 (6,982 ) 108,464 Balance at December 31, 2019 $ 5,792 $ — $ (132,515 ) $ (126,723 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2019 and 2018 . (Dollars in thousands) 2019 2018 Net actuarial loss $ 172,098 $ 162,973 Prior service cost — 57 Accumulated other comprehensive loss, excluding income taxes $ 172,098 $ 163,030 |
Reclassification out of Accumulated Other Comprehensive Income | The following table presents the amounts reclassified from accumulated other comprehensive (loss) income and the line item affected in the statement where net income is presented for years ended December 31, 2019 and 2018 : (Dollars in thousands) Year ended December 31, 2019 Details about accumulated other comprehensive (loss) income Amount reclassified from accumulated other comprehensive (loss) income (1) Affected line item in the statement where net income is presented Unrealized gains on available for sale securities $ 7,115 Realized gains on investment securities available for sale, net (1,636 ) Income taxes $ 5,479 Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (19,889 ) Net interest income 4,574 Income taxes $ (15,315 ) Amortization of defined benefit pension items Prior service costs $ (57 ) Salaries and wages Actuarial losses (10,924 ) Other (10,981 ) Income before income taxes 2,525 Income taxes $ (8,456 ) Total reclassifications for the period $ (18,292 ) Year ended December 31, 2018 Details about accumulated other comprehensive (loss) income Amount reclassified from accumulated other comprehensive (loss) income (1) Affected line item in the statement where net income is presented Unrealized gains on available for sale securities $ 351 Realized gains on investment securities available for sale, net (81 ) Income taxes $ 270 Amortization of unrealized losses on securities available for sale transferred to held to maturity $ (17,106 ) Net interest income 3,934 Income taxes $ (13,172 ) Amortization of defined benefit pension items Prior service costs $ (79 ) Salaries and wages Actuarial losses (13,902 ) Other (13,981 ) Income before income taxes 3,216 Income taxes $ (10,765 ) Total reclassifications for the period $ (23,667 ) (1) Amounts in parentheses indicate debits to profit/loss. |
Other Noninterest Income and _2
Other Noninterest Income and Other Noninterest Expense (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Noninterest Expense [Abstract] | |
Schedule of Other Operating Cost and Expense, by Component | Other noninterest expense for the years ended December 31, 2019, 2018 and 2017 included the following: (Dollars in thousands) 2019 2018 2017 Core deposit intangible amortization $ 16,346 $ 17,165 $ 17,194 Consultant expense 12,801 14,345 14,963 Advertising 11,437 11,650 11,227 Telecommunications expense 9,391 10,471 12,172 Other 89,308 93,432 86,874 Total other noninterest expense $ 139,283 $ 147,063 $ 142,430 Other expense consists of miscellaneous expenses including travel, postage, supplies, appraisal expense and other operational losses. Advertising expense related to non-direct response advertisements are expensed as incurred. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) | At December 31, 2019 , 2018 and 2017 income tax expense consisted of the following: (Dollars in thousands) 2019 2018 2017 Current tax expense Federal $ 68,984 $ 95,151 $ 87,992 State 11,095 21,523 6,116 Total current tax expense 80,079 116,674 94,108 Deferred tax expense (benefit) Federal 50,522 (10,944 ) 115,392 State 4,076 (2,433 ) 10,446 Total deferred tax expense (benefit) 54,598 (13,377 ) 125,838 Total income tax expense $ 134,677 $ 103,297 $ 219,946 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense differed from the amounts computed by applying the statutory federal income tax rate of 21% for 2019 and 2018 and 35% for 2017 to pretax income as a result of the following: (Dollars in thousands) 2019 2018 2017 Income taxes at federal statutory rates $ 124,330 $ 105,758 $ 190,294 Increase (reduction) in income taxes resulting from: Nontaxable income on loans, leases and investments, net of nondeductible expenses (1,639 ) (1,796 ) (2,525 ) Excess tax benefits of compensation 1,070 371 — State and local income taxes, including any change in valuation allowance, net of federal income tax benefit 11,985 15,081 10,765 Effect of federal rate change — (15,736 ) 25,762 Tax credits net of amortization (4,474 ) (2,891 ) (4,840 ) Other, net 3,405 2,510 490 Total income tax expense $ 134,677 $ 103,297 $ 219,946 |
Schedule of Deferred Tax Assets and Liabilities | The net deferred tax asset included the following components at December 31, 2019 , and 2018 : (Dollars in thousands) 2019 2018 Allowance for loan and lease losses $ 53,073 $ 53,391 Operating lease liabilities 17,752 — Executive separation from service agreements 12,334 7,927 Net operating loss carryforwards 11,085 6,862 Net unrealized loss included in comprehensive income — 32,663 Employee compensation 13,313 11,145 FDIC assisted transactions timing differences 8,678 7,622 Other reserves 5,001 5,574 Other 10,698 9,555 Deferred tax asset 131,934 134,739 Accelerated depreciation 51,249 4,987 Lease financing activities 8,101 12,674 Operating lease assets 17,837 — Net unrealized gain on securities included in accumulated other comprehensive loss 1,821 — Net deferred loan fees and costs 11,781 10,651 Intangible assets 9,148 11,713 Security, loan and debt valuations 5,767 4,557 Pension liability 5,079 6,287 Other 15,993 1,722 Deferred tax liability 126,776 52,591 Net deferred tax asset $ 5,158 $ 82,148 |
Schedule of Unrecognized Tax Benefits | The following table provides a rollforward of BancShares’ gross unrecognized tax benefits, excluding interest and penalties, during the years ended December 31 , 2019 , 2018 and 2017 : (Dollars in thousands) 2019 2018 2017 Unrecognized tax benefits at the beginning of the year $ 28,255 $ 29,004 $ 28,879 Reductions related to tax positions taken in prior year (683 ) (1,054 ) (44 ) Additions related to tax positions taken in current year 6,554 1,433 169 Reductions related to lapse of statute of limitations (1,900 ) (1,128 ) — Unrecognized tax benefits at the end of the year $ 32,226 $ 28,255 $ 29,004 |
Estimated Fair Values (Tables)
Estimated Fair Values (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values For Certain Financial Assets And Financial Liabilities | For all other financial assets and financial liabilities, the carrying value is a reasonable estimate of the fair value as of December 31, 2019 and 2018 . The carrying value and fair value for these assets and liabilities are equivalent because they are relatively short-term in nature and there is no interest rate or credit risk that would cause the fair value to differ from the carrying value. Cash and due from banks is classified on the fair value hierarchy as Level 1. Overnight investments, income earned not collected and accrued interest payable are considered Level 2. The table presents the carrying values and estimated fair values for financial instruments as of December 31, 2019 and 2018. December 31, 2019 December 31, 2018 (Dollars in thousands) Carrying value Fair value Carrying value Fair value Cash and due from banks $ 376,719 $ 376,719 $ 327,440 $ 327,440 Overnight investments 1,107,844 1,107,844 797,406 797,406 Investment securities available for sale 7,059,674 7,059,674 4,557,110 4,557,110 Investment securities held to maturity 30,996 30,996 2,184,653 2,201,502 Investment in marketable equity securities 82,333 82,333 92,599 92,599 Loans held for sale 67,869 67,869 45,505 45,505 Net loans and leases 28,656,355 28,878,550 25,299,564 24,845,060 Income earned not collected 123,154 123,154 109,903 109,903 Federal Home Loan Bank stock 43,039 43,039 25,304 25,304 Mortgage and other servicing rights 24,891 26,927 24,066 27,435 Deposits 34,431,236 34,435,789 30,672,460 30,623,214 Securities sold under customer repurchase agreements 442,956 442,956 543,936 543,936 Federal Home Loan Bank borrowings 572,185 577,362 193,556 195,374 Subordinated debentures 163,412 173,685 140,741 151,670 Other borrowings 148,318 149,232 13,921 13,985 FDIC shared-loss payable 112,395 114,252 105,618 105,846 Accrued interest payable 18,124 18,124 3,712 3,712 |
Assets And Liabilities Carried At Fair Value On A Recurring Basis | Among BancShares’ assets and liabilities, investment securities available for sale, marketable equity securities and loans held for sale are reported at their fair values on a recurring basis. For assets and liabilities carried at fair value on a recurring basis, the following table provides fair value information as of December 31, 2019 and 2018 . December 31, 2019 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 409,999 $ — $ 409,999 $ — Government agency 682,772 — 682,772 — Residential mortgage-backed securities 5,267,090 — 5,267,090 — Commercial mortgage-backed securities 380,020 — 380,020 — Corporate bonds 201,566 — 131,881 69,685 State, county and municipal 118,227 — 118,227 — Total investment securities available for sale $ 7,059,674 $ — $ 6,989,989 $ 69,685 Marketable equity securities $ 82,333 $ 29,458 $ 52,875 — Loans held for sale 67,869 — 67,869 — December 31, 2018 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Assets measured at fair value Investment securities available for sale U.S. Treasury $ 1,247,710 $ — $ 1,247,710 $ — Government agency 256,835 — 256,835 — Residential mortgage-backed securities 2,909,339 — 2,909,339 — Corporate bonds 143,226 — — 143,226 Total investment securities available for sale $ 4,557,110 $ — $ 4,413,884 $ 143,226 Marketable equity securities $ 92,599 $ 17,887 $ 74,712 $ — Loans held for sale 45,505 — 45,505 — |
Fair Value of Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The following table summarizes activity for Level 3 assets: December 31, 2019 (Dollars in thousands) Corporate bonds Balance at January 1, 2019 $ 143,226 Purchases (1) 35,993 Unrealized net gains included in other comprehensive income 3,891 Amounts included in net income 174 Transfers out (112,599 ) Sales / Calls (1,000 ) Balance at December 31, 2019 $ 69,685 (1) Includes Corporate bonds of $500 thousand acquired in Entegra transaction. |
Fair Value Level 3 Significant Unobservable Input Assumptions | The following table presents quantitative information about Level 3 fair value measurements for fair value on a recurring basis at December 31, 2019 . (Dollars in thousands) December 31, 2019 Level 3 assets Valuation technique Significant unobservable input Fair Value Corporate bonds Indicative bid provided by broker Multiple factors, including but not limited to, current operations, financial condition, cash flows, and recently executed financing transactions related to the issuer $ 69,685 |
Fair Value Option | The following table summarizes the difference between the aggregate fair value and the unpaid principal balance for residential real estate loans originated for sale measured at fair value as of December 31, 2019 and 2018 . December 31, 2019 (Dollars in thousands) Fair Value Unpaid Principal Balance Difference Originated loans held for sale $ 67,869 $ 65,697 $ 2,172 December 31, 2018 Fair Value Unpaid Principal Balance Difference Originated loans held for sale $ 45,505 $ 44,073 $ 1,432 |
Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis | For financial assets and liabilities carried at fair value on a nonrecurring basis, the following table provides fair value information as of December 31, 2019 and December 31, 2018 . December 31, 2019 Fair value measurements using: (Dollars in thousands) Fair value Level 1 Level 2 Level 3 Impaired loans 132,336 — — 132,336 Other real estate remeasured during current year 38,310 — — 38,310 Mortgage servicing rights 3,757 — — 3,757 December 31, 2018 Fair value measurements using: Fair value Level 1 Level 2 Level 3 Impaired loans $ 105,994 $ — $ — $ 105,994 Other real estate remeasured during current year 35,344 — — 35,344 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Retirement Benefits, Description [Abstract] | |
Schedule of Net Funded Status | The following table provides the changes in benefit obligation and plan assets and the funded status of the Plans at December 31, 2019 and 2018 . (Dollars in thousands) 2019 2018 Change in benefit obligation Projected benefit obligation at January 1 $ 852,975 $ 919,428 Service cost 12,767 16,154 Interest cost 37,260 34,733 Actuarial loss (gain) 118,964 (87,752 ) Benefits paid (31,560 ) (29,588 ) Projected benefit obligation at December 31 990,406 852,975 Change in plan assets Fair value of plan assets at January 1 842,534 881,590 Actual return on plan assets 161,506 (59,468 ) Employer contributions 3,592 50,000 Benefits paid (31,560 ) (29,588 ) Fair value of plan assets at December 31 976,072 842,534 Funded status at December 31 $ (14,334 ) $ (10,441 ) |
Schedule of Amount Included in Accumulated Other Comprehensive Income (Loss) | Accumulated other comprehensive loss included the following at December 31, 2019 and 2018 : December 31, 2019 December 31, 2018 (Dollars in thousands) Accumulated other comprehensive income (loss) Deferred tax expense (benefit) Accumulated other comprehensive loss, net of tax Accumulated Deferred Accumulated other comprehensive loss, net of tax Unrealized gains (losses) on securities available for sale $ 7,522 $ 1,730 $ 5,792 $ (50,007 ) $ (11,502 ) $ (38,505 ) Unrealized losses on securities available for sale transferred from (to) held to maturity — — — (92,401 ) (21,252 ) (71,149 ) Defined benefit pension items (172,098 ) (39,583 ) (132,515 ) (163,030 ) (37,497 ) (125,533 ) Total $ (164,576 ) $ (37,853 ) $ (126,723 ) $ (305,438 ) $ (70,251 ) $ (235,187 ) The following table highlights changes in accumulated other comprehensive (loss) income by component for the years ended December 31, 2019 and 2018 : (Dollars in thousands) Unrealized gains (losses) on securities available-for-sale (1) Unrealized losses on securities available for sale transferred from (to) held to maturity (1)(2) Defined benefit pension items (1) Total Balance at January 1, 2018 $ (30,945 ) $ — $ (91,349 ) $ (122,294 ) Cumulative effect adjustments (3) (29,751 ) — (20,300 ) (50,051 ) Adjusted beginning balance (60,696 ) — (111,649 ) (172,345 ) Net unrealized gains (losses) arising during period 22,461 (84,321 ) (24,649 ) (86,509 ) Amounts reclassified from accumulated other comprehensive loss (270 ) 13,172 10,765 23,667 Net current period other comprehensive income (loss) 22,191 (71,149 ) (13,884 ) (62,842 ) Balance at December 31, 2018 (38,505 ) (71,149 ) (125,533 ) (235,187 ) Net unrealized gains (losses) arising during period 49,776 55,834 (15,438 ) 90,172 Amounts reclassified from accumulated other comprehensive loss (5,479 ) 15,315 8,456 18,292 Net current period other comprehensive income (loss) 44,297 71,149 (6,982 ) 108,464 Balance at December 31, 2019 $ 5,792 $ — $ (132,515 ) $ (126,723 ) (1) All amounts are net of tax. Amounts in parentheses indicate debits. The following table details the amounts recognized in accumulated other comprehensive income at December 31, 2019 and 2018 . (Dollars in thousands) 2019 2018 Net actuarial loss $ 172,098 $ 162,973 Prior service cost — 57 Accumulated other comprehensive loss, excluding income taxes $ 172,098 $ 163,030 |
Schedule of Net Benefit Costs | The following table shows the components of periodic benefit cost related to the Plans and changes in plan assets and benefit obligations recognized in other comprehensive income for the years ended December 31, 2019, 2018 and 2017 . Year ended December 31 (Dollars in thousands) 2019 2018 2017 Service cost $ 12,767 $ 16,154 $ 15,186 Interest cost 37,260 34,733 35,593 Expected return on assets (62,590 ) (60,296 ) (53,244 ) Amortization of prior service cost 57 79 210 Amortization of net actuarial loss 10,924 13,902 9,510 Total net periodic benefit (income) cost (1,582 ) 4,572 7,255 Current year actuarial loss 20,049 32,012 12,945 Amortization of actuarial loss (10,924 ) (13,902 ) (9,510 ) Amortization of prior service cost (57 ) (79 ) (210 ) Net loss recognized in other comprehensive income 9,068 18,031 3,225 Total recognized in net periodic benefit cost and other comprehensive income $ 7,486 $ 22,603 $ 10,480 |
Schedule of Assumptions Used | The assumptions used to determine the benefit obligations at December 31, 2019 and 2018 are as follows: 2019 2018 Discount rate 3.46 % 4.38 % Rate of compensation increase 5.60 5.60 The assumptions used to determine the net periodic benefit cost for the years ended December 31, 2019, 2018 and 2017 , are as follows: 2019 2018 2017 Discount rate 4.38 % 3.76 % 4.30 % Rate of compensation increase 5.60 4.00 4.00 Expected long-term return on plan assets 7.50 7.50 7.50 |
Schedule of Fair Value and Allocation of Plan Assets | The fair values of pension plan assets at December 31, 2019 and 2018 , by asset class are as follows: December 31, 2019 (Dollars in thousands) Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 10,974 $ 10,974 — — 0 - 5% 1 % Equity securities 30 - 70% 73 % Common and preferred stock 142,157 142,157 — — Mutual funds 565,343 565,343 — — Fixed income 15 - 45% 23 % U.S. government and government agency securities 78,175 — 78,175 — Corporate bonds 122,370 — 122,370 — Mutual funds 25,288 25,288 — — Alternative investments 0 - 30% 3 % Mutual funds 31,765 31,765 — — Total pension assets $ 976,072 $ 775,527 $ 200,545 $ — 100 % December 31, 2018 Market Value Quoted prices in Significant Significant Target Allocation Actual % Cash and equivalents $ 19,029 $ 19,029 $ — $ — 0 - 5% 2 % Equity securities 30 - 70% 64 % Common and preferred stock 143,939 143,939 — — Mutual funds 395,328 393,104 2,224 — Fixed income 15 - 45% 30 % U.S. government and government agency securities 79,294 — 79,294 — Corporate bonds 140,358 — 140,358 — Mutual funds 29,561 29,561 — — Alternative investments 0 - 30% 4 % Mutual funds 35,025 35,025 — — Total pension assets $ 842,534 $ 620,658 $ 221,876 $ — 100 % |
Schedule of Expected Benefit Payments | Cash Flows The following are estimated payments to pension plan participants in the indicated periods: (Dollars in thousands) Estimated Payments 2020 $ 36,251 2021 38,980 2022 41,511 2023 43,891 2024 46,234 2025-2029 261,027 |
Deferred Benefit Plans Liability Rollforward | The following table provides the accrued liability as of December 31, 2019 and 2018 , and the changes in the accrued liability during the years then ended: (Dollars in thousands) 2019 2018 Present value of accrued liability as of January 1 $ 34,063 $ 37,299 Liability assumed in the Biscayne Bancshares acquisition 1,138 — Liability assumed in the First South Bancorp acquisition 1,067 — Liability assumed in the Entegra acquisition 9,738 — Liability assumed in the Capital Commerce acquisition — 808 Benefit expense and interest cost 3,970 535 Benefits paid (4,681 ) (4,579 ) Present value of accrued liability as of December 31 $ 45,295 $ 34,063 Discount rate at December 31 3.46 % 4.38 % |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Schedule of Operating and Finance Lease Assets and Liabilities | The following table presents the remaining weighted average lease terms and discount rates as of December 31, 2019 : Weighted average remaining lease term (years): December 31, 2019 Operating 10.2 Finance 4.7 Weighted average discount rate: Operating 3.23 % Finance 3.06 The following table presents lease assets and liabilities as of December 31, 2019 : (Dollars in thousands) Classification December 31, 2019 Assets: Operating Other assets $ 77,115 Finance Premises and equipment 8,820 Total leased assets $ 85,935 Liabilities: Operating Other liabilities $ 76,746 Finance Other borrowings 8,230 Total lease liabilities $ 84,976 |
Schedule of Net Lease Cost | The following table presents supplemental cash flow information related to leases for the year ended December 31, 2019 : (Dollars in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 15,703 Operating cash flows from finance leases 259 Financing cash flows from finance leases 1,850 Right-of-use assets obtained in exchange for new operating lease liabilities 17,837 Right-of-use assets obtained in exchange for new finance lease liabilities 1,886 (Dollars in thousands) Classification 2019 Lease cost: Operating lease cost (1) Occupancy expense $ 16,094 Finance lease cost: Amortization of leased assets Equipment expense 1,975 Interest on lease liabilities Interest expense - Other borrowings 259 Variable lease cost Occupancy expense 2,394 Sublease income Occupancy expense (390 ) Net lease cost $ 20,332 (1) Operating lease cost includes short-term lease cost, which is immaterial. |
Schedule of Lease Liability Maturities | The following table presents lease liability maturities in the next five years and thereafter: (Dollars in thousands) Operating Leases Finance Leases Total 2020 $ 14,257 $ 2,142 $ 16,399 2021 12,688 2,159 14,847 2022 11,261 1,876 13,137 2023 9,340 993 10,333 2024 7,379 617 7,996 Thereafter 36,653 1,066 37,719 Total lease payments $ 91,578 $ 8,853 $ 100,431 Less: Interest 14,832 623 15,455 Present value of lease liabilities $ 76,746 $ 8,230 $ 84,976 |
Schedule of Lease Liability Maturities | The following table presents lease liability maturities in the next five years and thereafter: (Dollars in thousands) Operating Leases Finance Leases Total 2020 $ 14,257 $ 2,142 $ 16,399 2021 12,688 2,159 14,847 2022 11,261 1,876 13,137 2023 9,340 993 10,333 2024 7,379 617 7,996 Thereafter 36,653 1,066 37,719 Total lease payments $ 91,578 $ 8,853 $ 100,431 Less: Interest 14,832 623 15,455 Present value of lease liabilities $ 76,746 $ 8,230 $ 84,976 |
Transactions with Related Per_2
Transactions with Related Persons (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions | For those identified as Related Persons as of December 31, 2019 , the following table provides an analysis of changes in the loans outstanding during 2019 and 2018 : Year ended December 31 (dollars in thousands) 2019 2018 Balance at January 1 $ 199 $ 74 New loans 5 134 Repayments (59 ) (9 ) Balance at December 31 $ 145 $ 199 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | The following table presents the commitments to extend credit and unfunded commitments as of December 31, 2019 and 2018 : (Dollars in thousands) 2019 2018 Unused commitments to extend credit $ 10,682,378 $ 10,054,712 Standby letters of credit 99,601 96,467 |
Parent Company Financial Stat_2
Parent Company Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Balance Sheets | Parent Company Condensed Balance Sheets (Dollars in thousands) December 31, 2019 December 31, 2018 Assets Cash and due from banks $ 4,573 $ 7,188 Overnight investments 2,547 385 Investments in marketable equity securities 82,333 92,599 Investment securities available for sale 3,015 6,456 Investment in banking subsidiaries 3,763,947 3,314,292 Investment in other subsidiaries 3,555 41,830 Due from subsidiaries — 814 Note to banking subsidiaries — 100,000 Other assets 45,164 42,810 Total assets $ 3,905,134 $ 3,606,374 Liabilities and Shareholders’ Equity Subordinated debentures $ 105,677 $ 105,546 Other borrowings 201,702 — Due to subsidiaries 1,670 299 Other liabilities 9,901 11,575 Shareholders’ equity 3,586,184 3,488,954 Total liabilities and shareholders’ equity $ 3,905,134 $ 3,606,374 |
Condensed Income Statements | Parent Company Condensed Income Statements Year ended December 31 (Dollars in thousands) 2019 2018 2017 Interest and dividend income $ 1,327 $ 1,362 $ 921 Interest expense 7,187 5,154 4,814 Net interest loss (5,860 ) (3,792 ) (3,893 ) Dividends from banking subsidiaries 149,819 242,910 50,424 Marketable equity securities gains (losses), net 20,625 (7,610 ) — Other income 257 347 8,437 Other operating expense 9,497 11,127 6,881 Income before income tax benefit and equity in undistributed net income of subsidiaries 155,344 220,728 48,087 Income tax expense (benefit) 892 (5,184 ) (5,395 ) Income before equity in undistributed net income of subsidiaries 154,452 225,912 53,482 Equity in undistributed net income of subsidiaries 302,919 174,401 270,270 Net income $ 457,371 $ 400,313 $ 323,752 |
Condensed Statements of Cash Flows | Parent Company Condensed Statements of Cash Flows Year ended December 31 (Dollars in thousands) 2019 2018 2017 OPERATING ACTIVITIES Net income $ 457,371 $ 400,313 $ 323,752 Adjustments Undistributed net income of subsidiaries (302,919 ) (174,401 ) (270,270 ) Net amortization of premiums and discounts 119 88 759 Marketable equity securities (gains) losses, net (20,625 ) 7,610 — Gain on extinguishment of debt — (160 ) (919 ) Realized gains (losses) on investment securities available for sale, net (20 ) — (8,003 ) Net change in due to/from subsidiaries (2,185 ) (381 ) (1,626 ) Change in other assets (2,001 ) 3,657 (10,509 ) Change in other liabilities 981 (2,595 ) 6,310 Net cash provided by operating activities 130,721 234,131 39,494 INVESTING ACTIVITIES Net change in loans 100,000 (100,000 ) — Net change in overnight investments 2,162 14,091 11,681 Purchases of marketable equity securities (26,166 ) (2,818 ) — Proceeds from sales of marketable equity securities 56,749 9,528 — Purchases of investment securities — (6,438 ) (28,012 ) Proceeds from sales, calls, and maturities of securities 3,477 9,997 32,463 Net cash provided by (used in) investing activities 136,222 (75,640 ) 16,132 FINANCING ACTIVITIES Net change in short-term borrowings 40,277 (15,000 ) — Repayment of long-term obligations (3,575 ) (1,840 ) (4,081 ) Origination of long-term obligations 165,000 — — Repurchase of common stock (453,123 ) (163,095 ) — Cash dividends paid (18,137 ) (16,779 ) (14,412 ) Net cash used in financing activities (269,558 ) (196,714 ) (18,493 ) Net change in cash (2,615 ) (38,223 ) 37,133 Cash balance at beginning of year 7,188 45,411 8,278 Cash balance at end of year $ 4,573 $ 7,188 $ 45,411 CASH PAYMENTS FOR: Interest $ 7,187 $ 5,154 $ 4,814 Income taxes 78,345 73,806 88,565 |
Accounting Policies and Basis_3
Accounting Policies and Basis of Presentation - Summary of Significant Accounting Policies (Details) $ in Thousands | Nov. 01, 2019USD ($) | Dec. 31, 2019USD ($)statereportablesegmentbranch | Jan. 01, 2020USD ($) | Jan. 01, 2019USD ($) | Dec. 31, 2018USD ($) |
Property, Plant and Equipment [Line Items] | |||||
Number of branches | branch | 574 | ||||
Number of states in which entity operates | state | 19 | ||||
Number of reportable segments | reportablesegment | 1 | ||||
Non-marketable securities | $ 12,500 | $ 2,500 | |||
FHLB restricted stock | 43,000 | 25,300 | |||
Amortization Method Qualified Affordable Housing Project Investments | 167,800 | 147,300 | |||
Right-of-use asset | 77,115 | ||||
Present value of lease liabilities | 76,746 | ||||
Deferred Tax Assets, Gross | (131,934) | (134,739) | |||
Total assets | 39,824,496 | 35,408,629 | |||
Retained earnings | 3,658,197 | $ 3,218,551 | |||
Accounting Standards Update 2016-02 | |||||
Property, Plant and Equipment [Line Items] | |||||
Right-of-use asset | $ 70,700 | ||||
Present value of lease liabilities | 71,800 | ||||
Right-of-use asset previously classified as capital lease | 8,800 | ||||
Finance lease liability previously classified as capital lease | 8,300 | ||||
Accounting Standards Update 2018-15 | |||||
Property, Plant and Equipment [Line Items] | |||||
Deferred Implementation Costs, Net, Related To Cloud Computing | $ 5,700 | ||||
Accounting Standards Update 2019-04 | |||||
Property, Plant and Equipment [Line Items] | |||||
Debt Securities, Held-to-maturity, Transfer, Amount | $ 2,080,000 | ||||
Debt Instrument, Fair Value Disclosure | 2,150,000 | ||||
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Net Of Tax | 72,500 | ||||
Debt Securities, Held-to-maturity, Transfer, Unrealized Gain (Loss) | 1,600 | ||||
Deferred Tax Assets, Gross | 16,700 | ||||
Total assets | 57,400 | ||||
Retained earnings | $ 57,400 | ||||
Minimum | |||||
Property, Plant and Equipment [Line Items] | |||||
Useful life (years) | 5 years | ||||
Operating lease renewal term (years) | 1 year | ||||
Maximum | |||||
Property, Plant and Equipment [Line Items] | |||||
Useful life (years) | 12 years | ||||
Operating lease renewal term (years) | 25 years | ||||
HomeBancorp Inc. | Accounting Standards Update 2016-02 | |||||
Property, Plant and Equipment [Line Items] | |||||
Present value of lease liabilities | $ 1,100 | ||||
Scenario, Forecast | Accounting Standards Updated 2016-13 | Minimum | |||||
Property, Plant and Equipment [Line Items] | |||||
Retained earnings | $ 32,000 | ||||
Allowance For Credit Losses, Increase (Decrease), Percentage | 15.00% | ||||
Scenario, Forecast | Accounting Standards Updated 2016-13 | Maximum | |||||
Property, Plant and Equipment [Line Items] | |||||
Retained earnings | $ 42,000 | ||||
Allowance For Credit Losses, Increase (Decrease), Percentage | 20.00% |
Business Combinations - Narrati
Business Combinations - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 01, 2020 | May 01, 2019 | Apr. 02, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Nov. 01, 2018 | Oct. 02, 2018 | May 01, 2018 |
Business Acquisition [Line Items] | |||||||||
Goodwill | $ 349,398 | $ 236,347 | $ 150,601 | ||||||
Loans | 28,881,496 | 25,523,276 | |||||||
Deposits | 34,431,236 | 30,672,460 | |||||||
Merger-related expenses | 17,166 | 6,462 | $ 9,015 | ||||||
Community Financial Holding Co. Inc. | Subsequent Event | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash paid to acquire business | $ 2,300 | ||||||||
Total assets acquired | 224,000 | ||||||||
Loans | 136,900 | ||||||||
Deposits acquired | $ 211,800 | ||||||||
Entegra Financial | |||||||||
Business Acquisition [Line Items] | |||||||||
Total assets acquired | 1,681,324 | ||||||||
Deposits acquired | $ 1,326,967 | ||||||||
Share price (usd per share) | $ 30.18 | ||||||||
Purchase Price | $ 222,750 | ||||||||
Non-PCI loans acquired | 953,700 | ||||||||
PCI loans acquired | 77,500 | ||||||||
Intangible assets | 4,500 | ||||||||
Total liabilities assumed | 1,511,208 | ||||||||
Goodwill | 52,634 | ||||||||
Loans | 1,031,186 | ||||||||
Merger-related expenses | 5,400 | ||||||||
Intangible assets | 6,899 | ||||||||
First South Bancorp | |||||||||
Business Acquisition [Line Items] | |||||||||
Total assets acquired | $ 239,151 | ||||||||
Deposits acquired | $ 207,556 | ||||||||
Share price (usd per share) | $ 1.15 | ||||||||
Purchase Price | $ 37,486 | ||||||||
Non-PCI loans acquired | 162,800 | ||||||||
PCI loans acquired | 16,400 | ||||||||
Intangible assets | 2,268 | ||||||||
Total liabilities assumed | 215,561 | 1,067 | 0 | ||||||
Goodwill | 13,896 | ||||||||
Loans | $ 179,243 | ||||||||
Interest And Fee Income, Loans, Consumer And Commercial | 6,100 | ||||||||
Merger-related expenses | 4,100 | ||||||||
Biscayne Bancshares | |||||||||
Business Acquisition [Line Items] | |||||||||
Total assets acquired | $ 1,029,184 | ||||||||
Share price (usd per share) | $ 25.05 | ||||||||
Purchase Price | $ 118,949 | ||||||||
Non-PCI loans acquired | 850,400 | ||||||||
PCI loans acquired | 13,000 | ||||||||
Intangible assets | 4,700 | ||||||||
Total liabilities assumed | 956,756 | 1,138 | 0 | ||||||
Goodwill | 46,521 | ||||||||
Loans | 863,384 | ||||||||
Deposits | 786,500 | ||||||||
Interest And Fee Income, Loans, Consumer And Commercial | 33,800 | ||||||||
Deposits | 786,512 | ||||||||
Merger-related expenses | 5,800 | ||||||||
Intangible assets | $ 4,745 | ||||||||
Palmetto Heritage Bancshares | |||||||||
Business Acquisition [Line Items] | |||||||||
Total assets acquired | $ 162,200 | ||||||||
Deposits acquired | 124,900 | ||||||||
Non-PCI loans acquired | 131,300 | ||||||||
PCI loans acquired | 3,900 | ||||||||
Total liabilities assumed | 149,300 | ||||||||
Goodwill | 17,500 | ||||||||
Merger-related expenses | 600 | 500 | |||||||
Revenue of acquired business | 5,600 | 1,200 | |||||||
Palmetto Heritage Bancshares | Core deposits | |||||||||
Business Acquisition [Line Items] | |||||||||
Intangible assets | $ 1,700 | ||||||||
Capital Commerce Bancorp | |||||||||
Business Acquisition [Line Items] | |||||||||
Total assets acquired | $ 221,900 | ||||||||
Deposits acquired | 172,400 | ||||||||
Non-PCI loans acquired | 173,400 | ||||||||
PCI loans acquired | 10,800 | ||||||||
Total liabilities assumed | 0 | 808 | 204,500 | ||||||
Goodwill | 10,700 | ||||||||
Merger-related expenses | 700 | 1,200 | |||||||
Revenue of acquired business | 8,100 | 3,200 | |||||||
Capital Commerce Bancorp | Core deposits | |||||||||
Business Acquisition [Line Items] | |||||||||
Intangible assets | $ 2,700 | ||||||||
HomeBancorp Inc. | |||||||||
Business Acquisition [Line Items] | |||||||||
Total assets acquired | $ 842,700 | ||||||||
Deposits acquired | 619,600 | ||||||||
Non-PCI loans acquired | 550,600 | ||||||||
PCI loans acquired | 15,600 | ||||||||
Total liabilities assumed | 787,700 | ||||||||
Goodwill | 57,600 | ||||||||
Merger-related expenses | 100 | 2,300 | |||||||
Revenue of acquired business | 21,400 | $ 17,400 | |||||||
HomeBancorp Inc. | Core deposits | |||||||||
Business Acquisition [Line Items] | |||||||||
Intangible assets | $ 9,900 | ||||||||
North Carolina Branches | |||||||||
Business Acquisition [Line Items] | |||||||||
Loans and leases | 106,400 | ||||||||
Premises and equipment | 2,300 | ||||||||
Deposits | $ 186,400 |
Business Combinations - Prelimi
Business Combinations - Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands | May 01, 2019 | Apr. 02, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Nov. 01, 2018 | Oct. 02, 2018 | May 01, 2018 | Dec. 31, 2017 |
Assets | ||||||||
Loans | $ 28,881,496 | $ 25,523,276 | ||||||
Liabilities | ||||||||
Goodwill | 349,398 | 236,347 | $ 150,601 | |||||
Biscayne Bancshares | ||||||||
Business Acquisition [Line Items] | ||||||||
Purchase Price | $ 118,949 | |||||||
Assets | ||||||||
Cash and due from banks | 78,010 | |||||||
Overnight investments | 306 | |||||||
Investment securities | 34,539 | |||||||
Loans | 863,384 | |||||||
Premises and equipment | 1,533 | |||||||
Other real estate owned | 2,046 | |||||||
Income earned not collected | 3,049 | |||||||
Intangible assets | 4,700 | |||||||
Intangible assets | 4,745 | |||||||
Other assets | 41,572 | |||||||
Fair value of assets acquired | 1,029,184 | |||||||
Liabilities | ||||||||
Deposits | 786,512 | |||||||
Accrued interest payable | 0 | |||||||
Borrowings | 157,415 | |||||||
Other liabilities | 12,829 | |||||||
Fair value of liabilities assumed | 956,756 | 1,138 | 0 | |||||
Fair value of net assets assumed | 72,428 | |||||||
Goodwill | $ 46,521 | |||||||
Entegra Financial | ||||||||
Business Acquisition [Line Items] | ||||||||
Purchase Price | 222,750 | |||||||
Assets | ||||||||
Cash and due from banks | 59,815 | |||||||
Overnight investments | 242,770 | |||||||
Investment securities | 227,834 | |||||||
Loans | 1,031,186 | |||||||
Premises and equipment | 24,458 | |||||||
Other real estate owned | 1,846 | |||||||
Income earned not collected | 5,447 | |||||||
Intangible assets | 4,500 | |||||||
Intangible assets | 6,899 | |||||||
Other assets | 81,069 | |||||||
Fair value of assets acquired | 1,681,324 | |||||||
Deposits acquired | 1,326,967 | |||||||
Liabilities | ||||||||
Borrowings | 169,433 | |||||||
Other liabilities | 14,808 | |||||||
Fair value of liabilities assumed | 1,511,208 | |||||||
Fair value of net assets assumed | 170,116 | |||||||
Goodwill | 52,634 | |||||||
First South Bancorp | ||||||||
Business Acquisition [Line Items] | ||||||||
Purchase Price | $ 37,486 | |||||||
Assets | ||||||||
Cash and due from banks | 4,633 | |||||||
Overnight investments | 3,188 | |||||||
Investment securities | 23,512 | |||||||
Loans | 179,243 | |||||||
Premises and equipment | 4,944 | |||||||
Other real estate owned | 1,567 | |||||||
Income earned not collected | 604 | |||||||
Intangible assets | 2,268 | |||||||
Other assets | 19,192 | |||||||
Fair value of assets acquired | 239,151 | |||||||
Deposits acquired | 207,556 | |||||||
Liabilities | ||||||||
Borrowings | 5,155 | |||||||
Other liabilities | 2,850 | |||||||
Fair value of liabilities assumed | 215,561 | 1,067 | 0 | |||||
Fair value of net assets assumed | 23,590 | |||||||
Goodwill | $ 13,896 | |||||||
Palmetto Heritage Bancshares | ||||||||
Assets | ||||||||
Fair value of assets acquired | $ 162,200 | |||||||
Deposits acquired | 124,900 | |||||||
Liabilities | ||||||||
Fair value of liabilities assumed | 149,300 | |||||||
Goodwill | $ 17,500 | |||||||
Capital Commerce Bancorp | ||||||||
Assets | ||||||||
Fair value of assets acquired | $ 221,900 | |||||||
Deposits acquired | 172,400 | |||||||
Liabilities | ||||||||
Fair value of liabilities assumed | $ 0 | $ 808 | 204,500 | |||||
Goodwill | $ 10,700 | |||||||
HomeBancorp Inc. | ||||||||
Assets | ||||||||
Fair value of assets acquired | $ 842,700 | |||||||
Deposits acquired | 619,600 | |||||||
Liabilities | ||||||||
Fair value of liabilities assumed | 787,700 | |||||||
Goodwill | $ 57,600 |
Investments (Aggregate Values a
Investments (Aggregate Values and Unrealized Gains and Losses) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Investment securities available for sale | ||
Investment securities available for sale, cost | $ 7,052,152 | $ 4,607,117 |
Investment securities available for sale, gross unrealized gains | 25,341 | 6,425 |
Investment securities available for sale, gross unrealized losses | 17,819 | 56,432 |
Investment securities available for sale, fair value | 7,059,674 | 4,557,110 |
Investment in marketable equity securities, cost | 59,262 | 73,809 |
Investment in marketable equity securities, gross unrealized gains | 23,304 | 19,010 |
Investment in marketable equity securities, gross unrealized losses | 233 | 220 |
Investment in marketable equity securities, fair value | 82,333 | 92,599 |
Investment securities held to maturity | ||
Investment securities held to maturity, cost | 30,996 | 2,184,653 |
Investment securities held to maturity, gross unrealied gains | 17,339 | |
Investment securities held to maturity, gross unrealized losses | 490 | |
Investment securities held to maturity, fair value | 30,996 | 2,201,502 |
Total investment securities, cost | 7,142,410 | 6,865,579 |
Total investment securities, gross unrealized gains | 48,645 | 42,774 |
Total investment securities, gross unrealized losses | 7,173,003 | 6,851,211 |
Total investment securities, fair value | 18,052 | 57,142 |
U. S. Treasury | ||
Investment securities available for sale | ||
Investment securities available for sale, cost | 409,397 | 1,249,243 |
Investment securities available for sale, gross unrealized gains | 602 | 633 |
Investment securities available for sale, gross unrealized losses | 0 | 2,166 |
Investment securities available for sale, fair value | 409,999 | 1,247,710 |
Government Agency | ||
Investment securities available for sale | ||
Investment securities available for sale, cost | 684,085 | 257,252 |
Investment securities available for sale, gross unrealized gains | 928 | 222 |
Investment securities available for sale, gross unrealized losses | 2,241 | 639 |
Investment securities available for sale, fair value | 682,772 | 256,835 |
Residential Mortgage Backed Securities | ||
Investment securities available for sale | ||
Investment securities available for sale, cost | 5,269,060 | 2,956,793 |
Investment securities available for sale, gross unrealized gains | 13,417 | 5,309 |
Investment securities available for sale, gross unrealized losses | 15,387 | 52,763 |
Investment securities available for sale, fair value | 5,267,090 | 2,909,339 |
Investment securities held to maturity | ||
Investment securities held to maturity, cost | 0 | 2,087,024 |
Investment securities held to maturity, gross unrealied gains | 16,592 | |
Investment securities held to maturity, gross unrealized losses | 490 | |
Investment securities held to maturity, fair value | 2,103,126 | |
Commercial Mortgage Backed Securities | ||
Investment securities available for sale | ||
Investment securities available for sale, cost | 373,105 | 0 |
Investment securities available for sale, gross unrealized gains | 6,974 | |
Investment securities available for sale, gross unrealized losses | 59 | |
Investment securities available for sale, fair value | 380,020 | 0 |
Investment securities held to maturity | ||
Investment securities held to maturity, cost | 0 | 97,629 |
Investment securities held to maturity, gross unrealied gains | 747 | |
Investment securities held to maturity, gross unrealized losses | 0 | |
Investment securities held to maturity, fair value | 98,376 | |
Corporate Bonds | ||
Investment securities available for sale | ||
Investment securities available for sale, cost | 198,278 | 143,829 |
Investment securities available for sale, gross unrealized gains | 3,420 | 261 |
Investment securities available for sale, gross unrealized losses | 132 | 864 |
Investment securities available for sale, fair value | 201,566 | $ 143,226 |
US States and Political Subdivisions Debt Securities | ||
Investment securities available for sale | ||
Investment securities available for sale, cost | 118,227 | |
Investment securities available for sale, gross unrealized gains | 0 | |
Investment securities available for sale, gross unrealized losses | 0 | |
Investment securities available for sale, fair value | 118,227 | |
Other Debt Obligations | ||
Investment securities held to maturity | ||
Investment securities held to maturity, cost | 30,996 | |
Investment securities held to maturity, gross unrealied gains | 0 | |
Investment securities held to maturity, gross unrealized losses | 0 | |
Investment securities held to maturity, fair value | $ 30,996 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) shares in Thousands | Nov. 01, 2019USD ($) | May 01, 2018USD ($) | Dec. 31, 2019USD ($)investmentsinvestment | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($) |
Schedule of Investments [Line Items] | |||||
Investment securities available for sale transferred to held to maturity fair value, net of tax | $ 109,500,000 | $ 72,512,000 | $ (109,507,000) | $ 0 | |
Reclassification of unrealized losses, net of tax | 84,300,000 | $ 71,149,000 | (71,149,000) | $ 0 | |
Number of investments in continuous unrealized loss position for more than twelve months | investment | 91 | ||||
Unrealized losses related to marketability of securities or issuers ability to honor redemption obligations | $ 0 | ||||
Investment value deemed to be OTTI | 0 | ||||
Investment securities, aggregate carrying value, pledged as collateral | $ 3,930,000,000 | $ 4,030,000,000 | |||
Visa Class B Common Stock | |||||
Schedule of Investments [Line Items] | |||||
Investment owned (in shares) | shares | 298 | ||||
Investment owned, fair value | $ 0 | ||||
Mortgage Backed Securities | |||||
Schedule of Investments [Line Items] | |||||
Investment securities available for sale transferred to held to maturity fair value | 2,380,000,000 | ||||
Investment securities available for sale transferred to held to maturity amortized cost | $ 2,490,000,000 | ||||
Weighted average contractual maturity (years) | 13 years | ||||
Available-for-sale, securities in unrealized loss positions, number of positions, greater than or equal to on year | investments | 90 | ||||
Corporate Bonds | |||||
Schedule of Investments [Line Items] | |||||
Available-for-sale, securities in unrealized loss positions, number of positions, greater than or equal to on year | investments | 1 | ||||
Accounting Standards Update 2019-04 | Mortgage Backed Securities | |||||
Schedule of Investments [Line Items] | |||||
Mortgage backed securities, held-to-maturity, transferred to available-for-sale | $ 2,080,000,000 | ||||
Investment securities available for sale transferred to held to maturity fair value | 2,150,000,000 | ||||
Investment securities available for sale transferred to held to maturity fair value, net of tax | 72,500,000 | ||||
Reclassification of unrealized losses, net of tax | $ 55,800,000 |
Investments (Maturity Informati
Investments (Maturity Information) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Investment securities available for sale | ||
Total investment securities available for sale, cost | $ 7,052,152 | $ 4,607,117 |
Investment securities available for sale | 7,059,674 | 4,557,110 |
Investment securities held to maturity | ||
Maturing in one year or less, cost | 30,746 | 0 |
Maturing in one year or less, fair value | 30,746 | 0 |
Maturing in one through five years, cost | 250 | 0 |
Maturing in one through five years, fair value | 250 | 0 |
Investment securities held to maturity, cost | 30,996 | 2,184,653 |
Total investment securities held to maturity, fair value | 30,996 | 2,201,502 |
Debt Securities | ||
Investment securities available for sale | ||
Maturing in one year or less, cost | 406,325 | 1,049,253 |
Maturing in one through five years, cost | 24,496 | 205,526 |
Maturing in five through ten years, cost | 185,209 | 134,370 |
Maturing in over ten years, cost | 109,872 | 3,923 |
Maturing in one year or less, fair value | 406,927 | 1,047,380 |
Maturing in one through five years, fair value | 24,971 | 205,805 |
Maturing in five through ten years, fair value | 187,868 | 133,626 |
Maturing in over ten years, fair value | 110,026 | 4,125 |
Government Agency | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 684,085 | 257,252 |
Investment securities available for sale | 682,772 | 256,835 |
Residential Mortgage Backed Securities | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 5,269,060 | 2,956,793 |
Investment securities available for sale | 5,267,090 | 2,909,339 |
Investment securities held to maturity | ||
Investment securities held to maturity, cost | 0 | 2,087,024 |
Investment securities held to maturity, fair value | 0 | 2,103,126 |
Total investment securities held to maturity, fair value | 2,103,126 | |
Commercial Mortgage Backed Securities | ||
Investment securities available for sale | ||
Total investment securities available for sale, cost | 373,105 | 0 |
Investment securities available for sale | 380,020 | 0 |
Investment securities held to maturity | ||
Investment securities held to maturity, cost | 0 | 97,629 |
Investment securities held to maturity, fair value | $ 0 | 98,376 |
Total investment securities held to maturity, fair value | $ 98,376 |
Investments (Securities Gains (
Investments (Securities Gains (Losses)) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments [Abstract] | |||
Gross gains on retirement/sales of investment securities available for sale | $ 8,993 | $ 353 | $ 11,635 |
Gross losses on sales of investment securities available for sale | (1,878) | (2) | (7,342) |
Realized gains on investment securities available for sale, net | $ 7,115 | $ 351 | $ 4,293 |
Investments (Realized and Unrea
Investments (Realized and Unrealized Gains/Losses on Marketable Equity Securities) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investments [Abstract] | |||
Marketable equity securities gains (losses), net | $ 20,625 | $ (7,610) | $ 0 |
Less net gains recognized on marketable equity securities sold | 16,344 | 1,190 | |
Unrealized (losses) gains recognized on marketable equity securities held | $ 4,281 | $ (8,800) |
Investments (Unrealized Losses)
Investments (Unrealized Losses) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Investment securities available for sale: | ||
Less than 12 months, fair value | $ 2,778,014 | $ 705,526 |
Less than 12 months, unrealized losses | 16,025 | 3,943 |
Longer than 12 months, fair value | 332,953 | 2,796,627 |
Longer than 12 months, unrealized losses | 1,794 | 52,489 |
Total fair value | 3,110,967 | 3,502,153 |
Total unrealized losses | 17,819 | 56,432 |
U. S. Treasury | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 248,983 | |
Less than 12 months, unrealized losses | 113 | |
Longer than 12 months, fair value | 848,622 | |
Longer than 12 months, unrealized losses | 2,053 | |
Total fair value | 1,097,605 | |
Total unrealized losses | 2,166 | |
Government Agency | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 347,081 | 115,273 |
Less than 12 months, unrealized losses | 1,827 | 601 |
Longer than 12 months, fair value | 63,947 | 2,310 |
Longer than 12 months, unrealized losses | 414 | 38 |
Total fair value | 411,028 | 117,583 |
Total unrealized losses | 2,241 | 639 |
Residential Mortgage Backed Securities | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 2,387,293 | 262,204 |
Less than 12 months, unrealized losses | 14,016 | 2,387 |
Longer than 12 months, fair value | 264,257 | 1,940,695 |
Longer than 12 months, unrealized losses | 1,371 | 50,376 |
Total fair value | 2,651,550 | 2,202,899 |
Total unrealized losses | 15,387 | 52,763 |
Investment securities held to maturity: | ||
Less than 12 months, fair value | 5,111 | |
Less than 12 months, unrealized losses | 181 | |
Longer than 12 months, fair value | 10,131 | |
Longer than 12 months, unrealized losses | 309 | |
Total fair value | 15,242 | |
Total unrealized losses | 490 | |
Commercial Mortgage Backed Securities | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 35,926 | |
Less than 12 months, unrealized losses | 59 | |
Longer than 12 months, fair value | 0 | |
Longer than 12 months, unrealized losses | 0 | |
Total fair value | 35,926 | |
Total unrealized losses | 59 | |
Corporate Bonds | ||
Investment securities available for sale: | ||
Less than 12 months, fair value | 7,714 | 79,066 |
Less than 12 months, unrealized losses | 123 | 842 |
Longer than 12 months, fair value | 4,749 | 5,000 |
Longer than 12 months, unrealized losses | 9 | 22 |
Total fair value | 12,463 | 84,066 |
Total unrealized losses | $ 132 | $ 864 |
Loans and Leases (Narrative) (D
Loans and Leases (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2019 | |
Financing Receivable, Recorded Investment [Line Items] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 6,570,000 | $ 6,360,000 | |
Federal Reserve Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 2,980,000 | 2,190,000 | |
Loans held for sale | 67,900 | 45,500 | |
Proceeds from Sale of Loans Receivable | 756,000 | 618,100 | |
Loans and Leases Receivable, Gain (Loss) on Sales, Net | 299 | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Purchase Discount Remaining | 30,900 | 33,300 | |
Advances from Federal Home Loan Banks | 175,200 | ||
Federal Home Loan Bank Advances, Current Borrowing Capacity | 6,010,000 | 6,180,000 | |
Net deferred fees on non-PCI loans | 927 | 79 | |
Loans Held For Sale | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Proceeds from Sale of Loans Receivable | 731,800 | 608,500 | |
Portfolio Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Proceeds from Sale of Loans Receivable | 24,200 | 9,600 | |
Non-PCI Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Nonaccruing | 114,946 | 84,546 | |
Accretion Income | 13,200 | 12,800 | |
Loans and leases greater than 90 days and accruing | 3,291 | 2,888 | |
Non-PCI Loans | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Nonaccruing | 42,407 | 18,529 | |
Loans and leases greater than 90 days and accruing | 1,094 | 808 | |
PCI Loans | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Nonaccruing | 1,300 | $ 6,700 | |
PCI Loans | Commercial | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans and leases greater than 90 days and accruing | 24,300 | 37,000 | |
Medical and Dental | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans in the medical, dental or related field | $ 5,160,000 | $ 4,980,000 | |
Medical, dental or related fields percentage of total loans and leases | 17.90% | 19.50% | |
Federal Home Loan Bank of Atlanta | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans Pledged as Collateral | $ 9,410,000 | $ 9,120,000 | |
Advances from Federal Home Loan Banks | 563,700 | ||
Federal Reserve Bank | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans Pledged as Collateral | $ 3,680,000 | 2,940,000 | |
Loans on the Cost Recovery Method | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Carrying value of acquired impaired loans | $ 3,300 | $ 2,900 |
Loans and Leases (Loans and Lea
Loans and Leases (Loans and Leases Outstanding) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans and leases, not acquired in a transfer accounted for as debt securities | $ 28,322,780 | $ 24,916,700 | ||
PCI Loans | 558,716 | 606,576 | $ 762,998 | $ 809,169 |
Total loans and leases | 28,881,496 | 25,523,276 | ||
Commercial | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 18,552,002 | 16,137,227 | ||
PCI Loans | 284,329 | 296,672 | ||
Commercial | Construction and land development | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,013,454 | 757,854 | ||
Commercial | Mortgage | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 12,282,635 | 10,717,234 | ||
Commercial | Commercial and industrial | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 4,403,792 | 3,938,730 | ||
Commercial | Other commercial real estate | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 542,028 | 426,985 | ||
Commercial | Other | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 310,093 | 296,424 | ||
Noncommercial | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 9,770,778 | 8,779,473 | ||
Noncommercial | Construction and land development | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 357,385 | 257,030 | ||
Noncommercial | Mortgage | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 5,293,917 | 4,265,687 | ||
Noncommercial | Revolving mortgage | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 2,339,072 | 2,542,975 | ||
Noncommercial | Consumer | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | $ 1,780,404 | $ 1,713,781 |
Loans and Leases (Loans Acquire
Loans and Leases (Loans Acquired By Loan Class) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | $ 28,322,780 | $ 24,916,700 | ||
PCI Loans | 558,716 | 606,576 | $ 762,998 | $ 809,169 |
Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 18,552,002 | 16,137,227 | ||
PCI Loans | 284,329 | 296,672 | ||
Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,013,454 | 757,854 | ||
Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 12,282,635 | 10,717,234 | ||
Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 542,028 | 426,985 | ||
Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 4,403,792 | 3,938,730 | ||
Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 310,093 | 296,424 | ||
Noncommercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 9,770,778 | 8,779,473 | ||
Noncommercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 357,385 | 257,030 | ||
Noncommercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 5,293,917 | 4,265,687 | ||
Noncommercial | Revolving mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 2,339,072 | 2,542,975 | ||
Noncommercial | Consumer | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,780,404 | 1,713,781 | ||
Pass | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 18,157,655 | 15,757,669 | ||
PCI Loans | 148,412 | 141,922 | ||
Pass | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,004,922 | 753,985 | ||
Pass | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 12,050,799 | 10,507,687 | ||
Pass | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 536,682 | 422,500 | ||
Pass | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 4,256,456 | 3,778,797 | ||
Pass | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 308,796 | 294,700 | ||
Special mention | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 166,866 | 174,700 | ||
PCI Loans | 44,290 | 48,475 | ||
Special mention | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 2,577 | 1,369 | ||
Special mention | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 115,164 | 114,219 | ||
Special mention | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 3,899 | 3,193 | ||
Special mention | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 44,604 | 54,814 | ||
Special mention | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 622 | 1,105 | ||
Substandard | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 158,897 | 127,842 | ||
PCI Loans | 87,970 | 101,447 | ||
Substandard | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 5,955 | 2,500 | ||
Substandard | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 116,672 | 92,743 | ||
Substandard | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,447 | 1,292 | ||
Substandard | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 34,148 | 30,688 | ||
Substandard | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 675 | 619 | ||
Doubtful | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 3 | 354 | ||
PCI Loans | 3,657 | 4,828 | ||
Doubtful | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 0 | 0 | ||
Doubtful | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 0 | 0 | ||
Doubtful | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 0 | 0 | ||
Doubtful | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 3 | 354 | ||
Doubtful | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 0 | 0 | ||
Ungraded | Commercial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 68,581 | 76,662 | ||
PCI Loans | 0 | 0 | ||
Ungraded | Commercial | Construction and land development | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 0 | 0 | ||
Ungraded | Commercial | Mortgage | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 0 | 2,585 | ||
Ungraded | Commercial | Other commercial real estate | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 0 | 0 | ||
Ungraded | Commercial | Commercial and industrial | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | 68,581 | 74,077 | ||
Ungraded | Commercial | Other | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Loans and leases, not acquired in a transfer accounted for as debt securities | $ 0 | $ 0 |
Loans and Leases (Composition o
Loans and Leases (Composition of the Loans and Leases Outstanding By Credit Quality Indicator) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
PCI commercial loans | $ 558,716 | $ 606,576 | $ 762,998 | $ 809,169 | |
Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
PCI commercial loans | 284,329 | 296,672 | |||
Commercial | Pass | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
PCI commercial loans | 148,412 | 141,922 | |||
Commercial | Special mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
PCI commercial loans | 44,290 | 48,475 | |||
Commercial | Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
PCI commercial loans | 87,970 | 101,447 | |||
Commercial | Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
PCI commercial loans | 3,657 | 4,828 | |||
Commercial | Ungraded | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
PCI commercial loans | 0 | 0 | |||
Non-PCI Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 28,116,245 | 24,781,818 | |||
Past Due | 206,535 | 134,882 | |||
Nonaccruing | 114,946 | 84,546 | |||
Non-PCI Loans | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 18,477,856 | 16,101,608 | |||
Past Due | 74,146 | 35,619 | |||
Nonaccruing | 42,407 | 18,529 | |||
Non-PCI Loans | Commercial | Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,007,411 | 756,885 | |||
Past Due | 6,043 | 969 | |||
Nonaccruing | 4,281 | 666 | |||
Non-PCI Loans | Commercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 12,245,153 | 10,697,731 | |||
Past Due | 37,482 | 19,503 | |||
Nonaccruing | 29,733 | 12,594 | |||
Non-PCI Loans | Commercial | Other commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 540,138 | 426,518 | |||
Past Due | 1,890 | 467 | |||
Nonaccruing | 708 | 366 | |||
Non-PCI Loans | Commercial | Commercial and industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 4,375,649 | 3,924,424 | |||
Past Due | 28,143 | 14,306 | |||
Nonaccruing | 7,365 | 4,624 | |||
Non-PCI Loans | Commercial | Other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 309,505 | 296,050 | |||
Past Due | 588 | 374 | |||
Nonaccruing | 320 | 279 | |||
Non-PCI Loans | Noncommercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 9,638,389 | 8,680,210 | |||
Past Due | 132,389 | 99,263 | |||
Nonaccruing | 72,539 | 66,017 | |||
Non-PCI Loans | Noncommercial | Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 354,393 | 254,837 | |||
Past Due | 2,992 | 2,193 | |||
Nonaccruing | 2,828 | 1,823 | |||
Non-PCI Loans | Noncommercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 5,205,380 | 4,214,783 | |||
Past Due | 88,537 | 50,904 | |||
Non-PCI Loans | Noncommercial | Revolving mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 2,316,010 | 2,514,269 | |||
Past Due | 23,062 | 28,706 | |||
Nonaccruing | 22,411 | 25,563 | |||
Non-PCI Loans | Noncommercial | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 1,762,606 | 1,696,321 | |||
Past Due | 17,798 | 17,460 | |||
Nonaccruing | 2,943 | 2,969 | |||
PCI Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Nonaccruing | $ 6,700 | 1,300 | |||
PCI Loans | Noncommercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 240,995 | ||||
PCI Loans | Noncommercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Current | 268,280 | ||||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 109,742 | 76,187 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 42,716 | 24,747 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 3,146 | 516 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 20,389 | 14,200 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 861 | 91 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 18,269 | 9,655 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 51 | 285 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 67,026 | 51,440 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 977 | 581 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 45,839 | 28,239 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 9,729 | 12,585 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 10,481 | 10,035 | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 13,764 | ||||
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 11,155 | ||||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 40,274 | 19,682 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 14,553 | 3,910 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 195 | 9 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 8,774 | 2,066 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 331 | 76 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 4,842 | 1,759 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 411 | 0 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 25,721 | 15,772 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 218 | 21 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 18,289 | 7,357 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 3,468 | 4,490 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 3,746 | 3,904 | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 5,608 | ||||
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 7,708 | ||||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 56,519 | 39,013 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 16,877 | 6,962 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 2,702 | 444 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 8,319 | 3,237 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 698 | 300 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 5,032 | 2,892 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 126 | 89 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 39,642 | 32,051 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 1,797 | 1,591 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 24,409 | 15,308 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 9,865 | 11,631 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | 3,571 | 3,521 | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | $ 14,020 | ||||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Past Due | $ 22,761 |
Loans and Leases (Aging Of The
Loans and Leases (Aging Of The Outstanding Loans and Leases By Class Excluding Loans Impaired At Acquisition Date) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | $ 28,322,780 | $ 24,916,700 | |
Commercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 18,552,002 | 16,137,227 | |
Commercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,013,454 | 757,854 | |
Commercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 12,282,635 | 10,717,234 | |
Commercial | Other commercial real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 542,028 | 426,985 | |
Commercial | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 4,403,792 | 3,938,730 | |
Commercial | Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 310,093 | 296,424 | |
Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 9,770,778 | 8,779,473 | |
Noncommercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 357,385 | 257,030 | |
Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 5,293,917 | 4,265,687 | |
Noncommercial | Revolving mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 2,339,072 | 2,542,975 | |
Noncommercial | Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,780,404 | 1,713,781 | |
Non-PCI Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 28,116,245 | 24,781,818 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 28,322,780 | 24,916,700 | |
Total | 206,535 | 134,882 | |
Nonaccruing | 114,946 | 84,546 | |
Non-PCI Loans | Commercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 18,477,856 | 16,101,608 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 18,552,002 | 16,137,227 | |
Total | 74,146 | 35,619 | |
Nonaccruing | 42,407 | 18,529 | |
Non-PCI Loans | Commercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 1,007,411 | 756,885 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,013,454 | 757,854 | |
Total | 6,043 | 969 | |
Nonaccruing | 4,281 | 666 | |
Non-PCI Loans | Commercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 12,245,153 | 10,697,731 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 12,282,635 | 10,717,234 | |
Total | 37,482 | 19,503 | |
Nonaccruing | 29,733 | 12,594 | |
Non-PCI Loans | Commercial | Other commercial real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 540,138 | 426,518 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 542,028 | 426,985 | |
Total | 1,890 | 467 | |
Nonaccruing | 708 | 366 | |
Non-PCI Loans | Commercial | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 4,375,649 | 3,924,424 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 4,403,792 | 3,938,730 | |
Total | 28,143 | 14,306 | |
Nonaccruing | 7,365 | 4,624 | |
Non-PCI Loans | Commercial | Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 309,505 | 296,050 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 310,093 | 296,424 | |
Total | 588 | 374 | |
Nonaccruing | 320 | 279 | |
Non-PCI Loans | Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 9,638,389 | 8,680,210 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 9,770,778 | 8,779,473 | |
Total | 132,389 | 99,263 | |
Nonaccruing | 72,539 | 66,017 | |
Non-PCI Loans | Noncommercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 354,393 | 254,837 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 357,385 | 257,030 | |
Total | 2,992 | 2,193 | |
Nonaccruing | 2,828 | 1,823 | |
Non-PCI Loans | Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 5,205,380 | 4,214,783 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 5,293,917 | 4,265,687 | |
Total | 88,537 | 50,904 | |
Non-PCI Loans | Noncommercial | Revolving mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 2,316,010 | 2,514,269 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 2,339,072 | 2,542,975 | |
Total | 23,062 | 28,706 | |
Nonaccruing | 22,411 | 25,563 | |
Non-PCI Loans | Noncommercial | Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 1,762,606 | 1,696,321 | |
Loans and leases, not acquired in a transfer accounted for as debt securities | 1,780,404 | 1,713,781 | |
Total | 17,798 | 17,460 | |
Nonaccruing | 2,943 | 2,969 | |
PCI Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Nonaccruing | $ 6,700 | 1,300 | |
PCI Loans | Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 240,995 | ||
Loans and leases, not acquired in a transfer accounted for as debt securities | 274,387 | 309,904 | |
PCI Loans | Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Current | 268,280 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 109,742 | 76,187 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 42,716 | 24,747 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 3,146 | 516 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 20,389 | 14,200 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 861 | 91 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 18,269 | 9,655 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 51 | 285 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 67,026 | 51,440 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 977 | 581 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 45,839 | 28,239 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 9,729 | 12,585 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 10,481 | 10,035 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 13,764 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 11,155 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 40,274 | 19,682 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 14,553 | 3,910 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 195 | 9 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 8,774 | 2,066 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 331 | 76 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 4,842 | 1,759 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 411 | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 25,721 | 15,772 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 218 | 21 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 18,289 | 7,357 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 3,468 | 4,490 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 3,746 | 3,904 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 5,608 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 7,708 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 56,519 | 39,013 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 16,877 | 6,962 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 2,702 | 444 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 8,319 | 3,237 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other commercial real estate | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 698 | 300 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Commercial and industrial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 5,032 | 2,892 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Commercial | Other | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 126 | 89 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 39,642 | 32,051 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Construction and land development | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 1,797 | 1,591 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 24,409 | 15,308 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Revolving mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 9,865 | 11,631 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-PCI Loans | Noncommercial | Consumer | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | 3,571 | 3,521 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | $ 14,020 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | PCI Loans | Noncommercial | Mortgage | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Total | $ 22,761 |
Loans and Leases (Recorded Inve
Loans and Leases (Recorded Investment, By Class, In Loans And Leases On Nonaccrual Status And Loans And Leases Greater Than 90 Days Past Due And Still Accruing) (Details) - Non-PCI Loans - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | $ 114,946 | $ 84,546 |
Loans and leases greater than 90 days and accruing | 3,291 | 2,888 |
Commercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 42,407 | 18,529 |
Loans and leases greater than 90 days and accruing | 1,094 | 808 |
Commercial | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 4,281 | 666 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Commercial | Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 29,733 | 12,594 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Commercial | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 7,365 | 4,624 |
Loans and leases greater than 90 days and accruing | 1,094 | 808 |
Commercial | Other commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 708 | 366 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Commercial | Other | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 320 | 279 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 72,539 | 66,017 |
Loans and leases greater than 90 days and accruing | 2,197 | 2,080 |
Noncommercial | Construction and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 2,828 | 1,823 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | Residential Mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 44,357 | 35,662 |
Loans and leases greater than 90 days and accruing | 45 | 0 |
Noncommercial | Revolving mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 22,411 | 25,563 |
Loans and leases greater than 90 days and accruing | 0 | 0 |
Noncommercial | Consumer | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccruing | 2,943 | 2,969 |
Loans and leases greater than 90 days and accruing | $ 2,152 | $ 2,080 |
Loans and Leases (Changes In Ca
Loans and Leases (Changes In Carrying Value Of Acquired Impaired Loans) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2019 | May 01, 2019 | Apr. 02, 2019 | Nov. 01, 2018 | Oct. 02, 2018 | May 01, 2018 | Dec. 31, 2016 | |
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
Reductions for repayments, foreclosures and changes in carrying value, net of accretion | $ (212,484) | $ (248,114) | $ (322,447) | |||||||
Outstanding principal balance | 768,391 | 960,457 | 1,175,441 | |||||||
PCI Loans | 558,716 | 606,576 | 762,998 | $ 809,169 | ||||||
PCI loans | 106,937 | 30,190 | 199,682 | |||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Accretion | 57,687 | 61,502 | $ 76,594 | |||||||
Loans on the Cost Recovery Method | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
Ending balance | 3,300 | |||||||||
Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI Loans | 284,329 | 296,672 | ||||||||
PCI Loans | ||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ||||||||||
Nonaccruing | $ 1,300 | $ 6,700 | ||||||||
Palmetto Heritage Bancshares | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 4,783 | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 4,112 | |||||||||
PCI loans | 3,863 | |||||||||
Palmetto Heritage Bancshares | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 1,637 | |||||||||
Palmetto Heritage Bancshares | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 2,226 | |||||||||
Palmetto Heritage Bancshares | Construction and land development | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 212 | |||||||||
Palmetto Heritage Bancshares | Construction and land development | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Palmetto Heritage Bancshares | Mortgage | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 1,053 | |||||||||
Palmetto Heritage Bancshares | Mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 2,226 | |||||||||
Palmetto Heritage Bancshares | Revolving mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Palmetto Heritage Bancshares | Other commercial real estate | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Palmetto Heritage Bancshares | Commercial and industrial | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 372 | |||||||||
Palmetto Heritage Bancshares | Consumer | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Capital Commerce Bancorp | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 13,871 | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 11,814 | |||||||||
PCI loans | 10,772 | |||||||||
Capital Commerce Bancorp | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 4,250 | |||||||||
Capital Commerce Bancorp | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 6,522 | |||||||||
Capital Commerce Bancorp | Construction and land development | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 1,482 | |||||||||
Capital Commerce Bancorp | Construction and land development | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Capital Commerce Bancorp | Mortgage | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 1,846 | |||||||||
Capital Commerce Bancorp | Mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 6,503 | |||||||||
Capital Commerce Bancorp | Revolving mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Capital Commerce Bancorp | Other commercial real estate | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Capital Commerce Bancorp | Commercial and industrial | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 922 | |||||||||
Capital Commerce Bancorp | Other | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Capital Commerce Bancorp | Consumer | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | $ 19 | |||||||||
Capital Commerce Bancorp | PCI Loans | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractually Required Payments | $ 19,720 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 13,032 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows Expected To Be Collected | 16,815 | |||||||||
HomeBancorp Inc. | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 26,651 | |||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 19,697 | |||||||||
PCI loans | 15,555 | |||||||||
HomeBancorp Inc. | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 8,238 | |||||||||
HomeBancorp Inc. | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 7,317 | |||||||||
HomeBancorp Inc. | Construction and land development | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
HomeBancorp Inc. | Construction and land development | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
HomeBancorp Inc. | Mortgage | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 7,815 | |||||||||
HomeBancorp Inc. | Mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 7,317 | |||||||||
HomeBancorp Inc. | Revolving mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
HomeBancorp Inc. | Other commercial real estate | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
HomeBancorp Inc. | Commercial and industrial | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 423 | |||||||||
HomeBancorp Inc. | Other | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | $ 0 | |||||||||
HomeBancorp Inc. | Consumer | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Entegra Financial | Revolving mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 5,582 | |||||||||
Entegra Financial | Other commercial real estate | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 1,734 | |||||||||
Entegra Financial | Other | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 1,731 | |||||||||
Entegra Financial | Consumer | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 352 | |||||||||
Entegra Financial | PCI Loans | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractually Required Payments | 103,441 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 77,507 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows Expected To Be Collected | 82,503 | |||||||||
Entegra Financial | PCI Loans | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 45,470 | |||||||||
Entegra Financial | PCI Loans | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 32,037 | |||||||||
Entegra Financial | PCI Loans | Construction and land development | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 10,326 | |||||||||
Entegra Financial | PCI Loans | Construction and land development | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 1,114 | |||||||||
Entegra Financial | PCI Loans | Mortgage | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 30,316 | |||||||||
Entegra Financial | PCI Loans | Mortgage | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 24,989 | |||||||||
Entegra Financial | PCI Loans | Commercial and industrial | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | $ 1,363 | |||||||||
First South Bancorp | Revolving mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | $ 0 | |||||||||
First South Bancorp | Other commercial real estate | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
First South Bancorp | Other | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
First South Bancorp | Consumer | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
First South Bancorp | PCI Loans | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractually Required Payments | 23,389 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 16,398 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows Expected To Be Collected | 21,392 | |||||||||
First South Bancorp | PCI Loans | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 11,790 | |||||||||
First South Bancorp | PCI Loans | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 4,608 | |||||||||
First South Bancorp | PCI Loans | Construction and land development | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 1,233 | |||||||||
First South Bancorp | PCI Loans | Construction and land development | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 17 | |||||||||
First South Bancorp | PCI Loans | Mortgage | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 9,355 | |||||||||
First South Bancorp | PCI Loans | Mortgage | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 4,591 | |||||||||
First South Bancorp | PCI Loans | Commercial and industrial | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | $ 1,202 | |||||||||
Biscayne Bancshares | Revolving mortgage | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Biscayne Bancshares | Other commercial real estate | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Biscayne Bancshares | Other | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Biscayne Bancshares | Consumer | Noncommercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | 0 | |||||||||
Biscayne Bancshares | PCI Loans | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 13,032 | |||||||||
Biscayne Bancshares | PCI Loans | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 9,249 | |||||||||
Biscayne Bancshares | PCI Loans | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 3,783 | |||||||||
Biscayne Bancshares | PCI Loans | Construction and land development | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 0 | |||||||||
Biscayne Bancshares | PCI Loans | Construction and land development | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 0 | |||||||||
Biscayne Bancshares | PCI Loans | Mortgage | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 7,589 | |||||||||
Biscayne Bancshares | PCI Loans | Mortgage | Noncommercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 3,783 | |||||||||
Biscayne Bancshares | PCI Loans | Commercial and industrial | Commercial | ||||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | $ 1,660 | |||||||||
Harvest Community Bank | Other | Commercial | ||||||||||
Carrying Value of Acquired Impaired Loans [Roll Forward] | ||||||||||
PCI loans | $ 0 |
Loans and Leases (Recorded Fair
Loans and Leases (Recorded Fair Values of Purchased Non-Impaired Loans and Leases) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | May 01, 2019 | Apr. 02, 2019 | Dec. 31, 2018 | Nov. 01, 2018 | Oct. 02, 2018 | May 01, 2018 | Dec. 31, 2017 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | $ 106,937 | $ 30,190 | $ 199,682 | |||||
First South Bancorp | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | $ 0 | |||||||
First South Bancorp | Commercial | Other | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 0 | |||||||
First South Bancorp | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
First South Bancorp | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
First South Bancorp | PCI Loans | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows Expected To Be Collected | 21,392 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractually Required Payments | 23,389 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 16,398 | |||||||
First South Bancorp | PCI Loans | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 11,790 | |||||||
First South Bancorp | PCI Loans | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 1,233 | |||||||
First South Bancorp | PCI Loans | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 9,355 | |||||||
First South Bancorp | PCI Loans | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 1,202 | |||||||
First South Bancorp | PCI Loans | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 4,608 | |||||||
First South Bancorp | PCI Loans | Noncommercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 17 | |||||||
First South Bancorp | PCI Loans | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 4,591 | |||||||
First South Bancorp | Non-PCI Loans | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 162,845 | |||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 175,465 | |||||||
Total non-PCI loans and leases | 162,845 | |||||||
First South Bancorp | Non-PCI Loans | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 131,093 | |||||||
First South Bancorp | Non-PCI Loans | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 8,663 | |||||||
First South Bancorp | Non-PCI Loans | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 74,713 | |||||||
First South Bancorp | Non-PCI Loans | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 7,509 | |||||||
First South Bancorp | Non-PCI Loans | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 40,208 | |||||||
First South Bancorp | Non-PCI Loans | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 31,752 | |||||||
First South Bancorp | Non-PCI Loans | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 24,641 | |||||||
First South Bancorp | Non-PCI Loans | Noncommercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 3,552 | |||||||
First South Bancorp | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 2,162 | |||||||
First South Bancorp | Non-PCI Loans | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | $ 1,397 | |||||||
Entegra Financial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 1,135,451 | |||||||
Total non-PCI loans and leases | 953,679 | |||||||
Entegra Financial | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 1,734 | |||||||
Entegra Financial | Commercial | Other | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 1,731 | |||||||
Total non-PCI loans and leases | 4,741 | |||||||
Entegra Financial | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 5,582 | |||||||
Entegra Financial | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 352 | |||||||
Entegra Financial | PCI Loans | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows Expected To Be Collected | 82,503 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractually Required Payments | 103,441 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 77,507 | |||||||
Entegra Financial | PCI Loans | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 45,470 | |||||||
Entegra Financial | PCI Loans | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 10,326 | |||||||
Entegra Financial | PCI Loans | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 30,316 | |||||||
Entegra Financial | PCI Loans | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 1,363 | |||||||
Entegra Financial | PCI Loans | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 32,037 | |||||||
Entegra Financial | PCI Loans | Noncommercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 1,114 | |||||||
Entegra Financial | PCI Loans | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 24,989 | |||||||
Entegra Financial | Non-PCI Loans | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 953,679 | |||||||
Entegra Financial | Non-PCI Loans | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 534,705 | |||||||
Entegra Financial | Non-PCI Loans | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 92,495 | |||||||
Entegra Financial | Non-PCI Loans | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 381,729 | |||||||
Entegra Financial | Non-PCI Loans | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 28,678 | |||||||
Entegra Financial | Non-PCI Loans | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 27,062 | |||||||
Entegra Financial | Non-PCI Loans | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 418,974 | |||||||
Entegra Financial | Non-PCI Loans | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 310,039 | |||||||
Entegra Financial | Non-PCI Loans | Noncommercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 51,786 | |||||||
Entegra Financial | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 36,701 | |||||||
Entegra Financial | Non-PCI Loans | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | $ 20,448 | |||||||
Palmetto Heritage Bancshares | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | $ 3,863 | |||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 142,413 | |||||||
Total non-PCI loans and leases | 131,283 | |||||||
Palmetto Heritage Bancshares | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 1,637 | |||||||
Total non-PCI loans and leases | 52,356 | |||||||
Palmetto Heritage Bancshares | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 212 | |||||||
Total non-PCI loans and leases | 13,186 | |||||||
Palmetto Heritage Bancshares | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 1,053 | |||||||
Total non-PCI loans and leases | 29,225 | |||||||
Palmetto Heritage Bancshares | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 753 | |||||||
Palmetto Heritage Bancshares | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 372 | |||||||
Total non-PCI loans and leases | 8,153 | |||||||
Palmetto Heritage Bancshares | Commercial | Other | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Total non-PCI loans and leases | 1,039 | |||||||
Palmetto Heritage Bancshares | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 2,226 | |||||||
Total non-PCI loans and leases | 78,927 | |||||||
Palmetto Heritage Bancshares | Noncommercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Palmetto Heritage Bancshares | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 2,226 | |||||||
Total non-PCI loans and leases | 59,076 | |||||||
Palmetto Heritage Bancshares | Noncommercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Total non-PCI loans and leases | 11,103 | |||||||
Palmetto Heritage Bancshares | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 6,175 | |||||||
Palmetto Heritage Bancshares | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 2,573 | |||||||
Capital Commerce Bancorp | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | $ 10,772 | |||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 198,568 | |||||||
Total non-PCI loans and leases | 173,354 | |||||||
Capital Commerce Bancorp | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 4,250 | |||||||
Total non-PCI loans and leases | 108,019 | |||||||
Capital Commerce Bancorp | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 1,482 | |||||||
Total non-PCI loans and leases | 10,299 | |||||||
Capital Commerce Bancorp | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 1,846 | |||||||
Total non-PCI loans and leases | 57,049 | |||||||
Capital Commerce Bancorp | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 6,370 | |||||||
Capital Commerce Bancorp | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 922 | |||||||
Total non-PCI loans and leases | 34,301 | |||||||
Capital Commerce Bancorp | Commercial | Other | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 0 | |||||||
Capital Commerce Bancorp | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 6,522 | |||||||
Total non-PCI loans and leases | 65,335 | |||||||
Capital Commerce Bancorp | Noncommercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Capital Commerce Bancorp | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 6,503 | |||||||
Total non-PCI loans and leases | 50,630 | |||||||
Capital Commerce Bancorp | Noncommercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Total non-PCI loans and leases | 11,173 | |||||||
Capital Commerce Bancorp | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 2,552 | |||||||
Capital Commerce Bancorp | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 19 | |||||||
Total non-PCI loans and leases | $ 980 | |||||||
Capital Commerce Bancorp | PCI Loans | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractual Cash Flows Expected To Be Collected | $ 16,815 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contractually Required Payments | 19,720 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 13,032 | |||||||
HomeBancorp Inc. | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | $ 15,555 | |||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 710,876 | |||||||
Total non-PCI loans and leases | 550,618 | |||||||
HomeBancorp Inc. | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 8,238 | |||||||
Total non-PCI loans and leases | 252,327 | |||||||
HomeBancorp Inc. | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 525 | |||||||
HomeBancorp Inc. | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 7,815 | |||||||
Total non-PCI loans and leases | 188,688 | |||||||
HomeBancorp Inc. | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 55,183 | |||||||
HomeBancorp Inc. | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 423 | |||||||
Total non-PCI loans and leases | 7,931 | |||||||
HomeBancorp Inc. | Commercial | Other | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | $ 0 | |||||||
Total non-PCI loans and leases | 0 | |||||||
HomeBancorp Inc. | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 7,317 | |||||||
Total non-PCI loans and leases | 298,291 | |||||||
HomeBancorp Inc. | Noncommercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
HomeBancorp Inc. | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 7,317 | |||||||
Total non-PCI loans and leases | 296,273 | |||||||
HomeBancorp Inc. | Noncommercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Total non-PCI loans and leases | 0 | |||||||
HomeBancorp Inc. | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 51 | |||||||
HomeBancorp Inc. | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | $ 1,967 | |||||||
Biscayne Bancshares | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Biscayne Bancshares | Commercial | Other | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Total non-PCI loans and leases | 0 | |||||||
Biscayne Bancshares | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Biscayne Bancshares | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
PCI loans | 0 | |||||||
Biscayne Bancshares | PCI Loans | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 13,032 | |||||||
Biscayne Bancshares | PCI Loans | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 9,249 | |||||||
Biscayne Bancshares | PCI Loans | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 0 | |||||||
Biscayne Bancshares | PCI Loans | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 7,589 | |||||||
Biscayne Bancshares | PCI Loans | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 1,660 | |||||||
Biscayne Bancshares | PCI Loans | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 3,783 | |||||||
Biscayne Bancshares | PCI Loans | Noncommercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 0 | |||||||
Biscayne Bancshares | PCI Loans | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 3,783 | |||||||
Biscayne Bancshares | Non-PCI Loans | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 850,352 | |||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | 1,078,854 | |||||||
Total non-PCI loans and leases | 850,352 | |||||||
Biscayne Bancshares | Non-PCI Loans | Commercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 345,494 | |||||||
Biscayne Bancshares | Non-PCI Loans | Commercial | Construction and land development | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 15,647 | |||||||
Biscayne Bancshares | Non-PCI Loans | Commercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 203,605 | |||||||
Biscayne Bancshares | Non-PCI Loans | Commercial | Other commercial real estate | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 98,107 | |||||||
Biscayne Bancshares | Non-PCI Loans | Commercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 28,135 | |||||||
Biscayne Bancshares | Non-PCI Loans | Noncommercial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 504,858 | |||||||
Biscayne Bancshares | Non-PCI Loans | Noncommercial | Mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 405,419 | |||||||
Biscayne Bancshares | Non-PCI Loans | Noncommercial | Commercial and industrial | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 31,668 | |||||||
Biscayne Bancshares | Non-PCI Loans | Noncommercial | Revolving mortgage | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | 54,081 | |||||||
Biscayne Bancshares | Non-PCI Loans | Noncommercial | Consumer | ||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets | $ 13,690 |
Loans and Leases (Changes In _2
Loans and Leases (Changes In Carrying Amount Of Accretable Yield) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Changes in Amount of Accretable Yield [Roll Forward] | ||||
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield | $ 251,135 | $ 312,894 | $ 316,679 | $ 335,074 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Additions | 17,403 | 6,393 | 44,120 | |
Accretion | (57,687) | (61,502) | (76,594) | |
Other, net | 6,489 | 5,980 | 18,901 | |
Changes in expected cash flows that do not affect nonaccretable difference | $ (27,964) | $ 45,344 | $ (4,822) |
Allowance for Loan and Lease _3
Allowance for Loan and Lease Losses (Summary of Activity In Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Net Loans and Leases | $ 28,656,355 | $ 25,299,564 | |||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | |||||||
ALLL for loans and leases acquired with deteriorated credit quality | 225,141 | 223,712 | |||||
PCI Loans | 558,716 | 606,576 | $ 762,998 | $ 809,169 | |||
Commercial | |||||||
Loan and Lease Acquired with Deteriorated Credit Quality [Abstract] | |||||||
PCI Loans | 284,329 | 296,672 | |||||
Non-PCI Loans | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | $ 214,568 | $ 211,867 | $ 205,026 | ||||
Provisions | 33,049 | 29,232 | 29,139 | ||||
Charge-offs | (43,027) | (39,554) | (36,386) | ||||
Recoveries | 13,015 | 13,023 | 14,088 | ||||
Ending balance | 217,605 | 214,568 | 211,867 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 12,915 | 9,827 | |||||
ALLL for loans and leases collectively evaluated for impairment | 204,690 | 204,741 | |||||
Total allowance for loan and lease losses | 217,605 | 214,568 | 211,867 | 217,605 | 214,568 | 211,867 | 205,026 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 185,599 | 146,430 | |||||
Loans and leases collectively evaluated for impairment | 28,137,181 | 24,770,270 | |||||
Net Loans and Leases | 28,322,780 | 24,916,700 | |||||
Non-PCI Loans | Commercial | |||||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 5,634 | 4,445 | |||||
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 88,893 | 68,641 | |||||
Non-PCI Loans | Commercial | Construction and land development | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 35,270 | 24,470 | 28,877 | ||||
Provisions | (2,171) | 10,533 | (4,329) | ||||
Charge-offs | (196) | (44) | (599) | ||||
Recoveries | 310 | 311 | 521 | ||||
Ending balance | 33,213 | 35,270 | 24,470 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 463 | 490 | |||||
ALLL for loans and leases collectively evaluated for impairment | 32,750 | 34,780 | |||||
Total allowance for loan and lease losses | 33,213 | 35,270 | 24,470 | 33,213 | 35,270 | 24,470 | 28,877 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 4,655 | 2,175 | |||||
Loans and leases collectively evaluated for impairment | 1,008,799 | 755,679 | |||||
Net Loans and Leases | 1,013,454 | 757,854 | |||||
Non-PCI Loans | Commercial | Mortgage | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 43,451 | 45,005 | 48,278 | ||||
Provisions | 2,384 | (1,490) | (5,694) | ||||
Charge-offs | (1,096) | (1,140) | (421) | ||||
Recoveries | 596 | 1,076 | 2,842 | ||||
Ending balance | 45,335 | 43,451 | 45,005 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 3,650 | 2,671 | |||||
ALLL for loans and leases collectively evaluated for impairment | 41,685 | 40,780 | |||||
Total allowance for loan and lease losses | 45,335 | 43,451 | 45,005 | 45,335 | 43,451 | 45,005 | 48,278 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 70,149 | 55,447 | |||||
Loans and leases collectively evaluated for impairment | 12,212,486 | 10,661,787 | |||||
Net Loans and Leases | 12,282,635 | 10,717,234 | |||||
Non-PCI Loans | Commercial | Other commercial real estate | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 2,481 | 4,571 | 3,269 | ||||
Provisions | (285) | (2,171) | 1,280 | ||||
Charge-offs | 0 | (69) | (5) | ||||
Recoveries | 15 | 150 | 27 | ||||
Ending balance | 2,211 | 2,481 | 4,571 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 39 | 42 | |||||
ALLL for loans and leases collectively evaluated for impairment | 2,172 | 2,439 | |||||
Total allowance for loan and lease losses | 2,211 | 2,481 | 4,571 | 2,211 | 2,481 | 4,571 | 3,269 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 1,268 | 860 | |||||
Loans and leases collectively evaluated for impairment | 540,760 | 426,125 | |||||
Net Loans and Leases | 542,028 | 426,985 | |||||
Non-PCI Loans | Commercial | Commercial and industrial | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 55,620 | 59,824 | 56,132 | ||||
Provisions | 14,212 | 2,511 | 11,624 | ||||
Charge-offs | (13,352) | (10,211) | (11,921) | ||||
Recoveries | 2,894 | 3,496 | 3,989 | ||||
Ending balance | 59,374 | 55,620 | 59,824 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 1,379 | 1,137 | |||||
ALLL for loans and leases collectively evaluated for impairment | 57,995 | 54,483 | |||||
Total allowance for loan and lease losses | 55,620 | 55,620 | 59,824 | 59,374 | 55,620 | 59,824 | 56,132 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 12,182 | 9,868 | |||||
Loans and leases collectively evaluated for impairment | 4,391,610 | 3,928,862 | |||||
Net Loans and Leases | 4,403,792 | 3,938,730 | |||||
Non-PCI Loans | Commercial | Other | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 2,221 | 4,689 | 3,127 | ||||
Provisions | (754) | (2,827) | 2,189 | ||||
Charge-offs | (100) | (130) | (912) | ||||
Recoveries | 869 | 489 | 285 | ||||
Ending balance | 2,236 | 2,221 | 4,689 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 103 | 105 | |||||
ALLL for loans and leases collectively evaluated for impairment | 2,133 | 2,116 | |||||
Total allowance for loan and lease losses | 2,236 | 2,221 | 4,689 | 2,236 | 2,221 | 4,689 | 3,127 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 639 | 291 | |||||
Loans and leases collectively evaluated for impairment | 309,454 | 296,133 | |||||
Net Loans and Leases | 310,093 | 296,424 | |||||
Non-PCI Loans | Noncommercial | |||||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 7,281 | 5,382 | |||||
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 96,706 | 77,789 | |||||
Non-PCI Loans | Noncommercial | Construction and land development | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 2,350 | 3,962 | 1,596 | ||||
Provisions | 359 | (1,520) | 2,366 | ||||
Charge-offs | 0 | (219) | 0 | ||||
Recoveries | 0 | 127 | 0 | ||||
Ending balance | 2,709 | 2,350 | 3,962 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 174 | 81 | |||||
ALLL for loans and leases collectively evaluated for impairment | 2,535 | 2,269 | |||||
Total allowance for loan and lease losses | 2,709 | 2,350 | 3,962 | 2,709 | 2,350 | 3,962 | 1,596 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 3,882 | 3,749 | |||||
Loans and leases collectively evaluated for impairment | 353,503 | 253,281 | |||||
Net Loans and Leases | 357,385 | 257,030 | |||||
Non-PCI Loans | Noncommercial | Mortgage | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 15,472 | 15,706 | 14,447 | ||||
Provisions | 3,481 | 897 | 2,096 | ||||
Charge-offs | (1,137) | (1,689) | (1,376) | ||||
Recoveries | 416 | 558 | 539 | ||||
Ending balance | 18,232 | 15,472 | 15,706 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 3,278 | 1,901 | |||||
ALLL for loans and leases collectively evaluated for impairment | 14,954 | 13,571 | |||||
Total allowance for loan and lease losses | 15,472 | 15,472 | 15,706 | 18,232 | 15,472 | 15,706 | 14,447 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 60,442 | 42,168 | |||||
Loans and leases collectively evaluated for impairment | 5,233,475 | 4,223,519 | |||||
Net Loans and Leases | 5,293,917 | 4,265,687 | |||||
Non-PCI Loans | Noncommercial | Revolving mortgage | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 21,862 | 22,436 | 21,013 | ||||
Provisions | (788) | 1,112 | 2,509 | ||||
Charge-offs | (2,584) | (3,235) | (2,368) | ||||
Recoveries | 1,212 | 1,549 | 1,282 | ||||
Ending balance | 19,702 | 21,862 | 22,436 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 2,722 | 2,515 | |||||
ALLL for loans and leases collectively evaluated for impairment | 16,980 | 19,347 | |||||
Total allowance for loan and lease losses | 21,862 | 21,862 | 22,436 | 19,702 | 21,862 | 22,436 | 21,013 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 28,869 | 28,852 | |||||
Loans and leases collectively evaluated for impairment | 2,310,203 | 2,514,123 | |||||
Net Loans and Leases | 2,339,072 | 2,542,975 | |||||
Non-PCI Loans | Noncommercial | Consumer | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 35,841 | 31,204 | 28,287 | ||||
Provisions | 16,611 | 22,187 | 17,098 | ||||
Charge-offs | (24,562) | (22,817) | (18,784) | ||||
Recoveries | 6,703 | 5,267 | 4,603 | ||||
Ending balance | 34,593 | 35,841 | 31,204 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
ALLL for loans and leases individually evaluated for impairment | 1,107 | 885 | |||||
ALLL for loans and leases collectively evaluated for impairment | 33,486 | 34,956 | |||||
Total allowance for loan and lease losses | 35,841 | 35,841 | 31,204 | 34,593 | 35,841 | 31,204 | 28,287 |
Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Loans and leases individually evaluated for impairment | 3,513 | 3,020 | |||||
Loans and leases collectively evaluated for impairment | 1,776,891 | 1,710,761 | |||||
Net Loans and Leases | 1,780,404 | 1,713,781 | |||||
PCI Loans | |||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||
Beginning balance | 9,144 | 10,026 | 13,769 | ||||
Provisions | (1,608) | (765) | (3,447) | ||||
Charge-offs | 0 | (117) | (296) | ||||
Recoveries | 0 | 0 | 0 | ||||
Ending balance | 7,536 | 9,144 | 10,026 | ||||
Allowance for Loans and Leases Evaluated for Impairment [Abstract] | |||||||
Total allowance for loan and lease losses | $ 7,536 | $ 10,026 | $ 10,026 | $ 7,536 | $ 9,144 | $ 10,026 | $ 13,769 |
Allowance for Loan and Lease _4
Allowance for Loan and Lease Losses (Allocation of Allowance for Loan and Lease Losses) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | $ 768,391 | $ 960,457 | $ 1,175,441 | |
Non-PCI impaired loans less than $500,00 collectively evaluated | 41,000 | 47,100 | ||
Non-PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 200,599 | 163,902 | ||
ALLL for loans and leases individually evaluated for impairment | 12,915 | 9,827 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 133,358 | 115,073 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 52,241 | 31,357 | ||
Financing Receivable, Individually Evaluated for Impairment | 185,599 | 146,430 | ||
Average balance | 169,938 | 153,123 | 141,733 | |
Interest income recognized | 5,410 | 5,488 | 4,790 | |
Allowance for loan and lease losses | 217,605 | 214,568 | 211,867 | $ 205,026 |
Non-PCI Loans | Commercial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 95,927 | 79,865 | ||
ALLL for loans and leases individually evaluated for impairment | 5,634 | 4,445 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 52,516 | 43,686 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 36,377 | 24,955 | ||
Financing Receivable, Individually Evaluated for Impairment | 88,893 | 68,641 | ||
Average balance | 81,477 | 78,597 | 88,341 | |
Interest income recognized | 2,761 | 3,063 | 3,116 | |
Non-PCI Loans | Commercial | Other commercial real estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 1,360 | 946 | ||
ALLL for loans and leases individually evaluated for impairment | 39 | 42 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 318 | 243 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 950 | 617 | ||
Financing Receivable, Individually Evaluated for Impairment | 1,268 | 860 | ||
Average balance | 919 | 1,225 | 1,642 | |
Interest income recognized | 27 | 43 | 34 | |
Allowance for loan and lease losses | 2,211 | 2,481 | 4,571 | 3,269 |
Non-PCI Loans | Commercial | Construction and land development | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 5,109 | 2,606 | ||
ALLL for loans and leases individually evaluated for impairment | 463 | 490 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,851 | 1,897 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,804 | 278 | ||
Financing Receivable, Individually Evaluated for Impairment | 4,655 | 2,175 | ||
Average balance | 3,915 | 1,734 | 858 | |
Interest income recognized | 53 | 84 | 37 | |
Allowance for loan and lease losses | 33,213 | 35,270 | 24,470 | 28,877 |
Non-PCI Loans | Commercial | Mortgage | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 74,804 | 61,317 | ||
ALLL for loans and leases individually evaluated for impairment | 3,650 | 2,671 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 42,394 | 34,177 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 27,755 | 21,270 | ||
Financing Receivable, Individually Evaluated for Impairment | 70,149 | 55,447 | ||
Average balance | 64,363 | 65,943 | 73,815 | |
Interest income recognized | 2,188 | 2,569 | 2,596 | |
Allowance for loan and lease losses | 45,335 | 43,451 | 45,005 | 48,278 |
Non-PCI Loans | Commercial | Commercial and industrial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 13,993 | 14,695 | ||
ALLL for loans and leases individually evaluated for impairment | 1,379 | 1,137 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 7,547 | 7,153 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 4,635 | 2,715 | ||
Financing Receivable, Individually Evaluated for Impairment | 12,182 | 9,868 | ||
Average balance | 11,884 | 9,560 | 11,600 | |
Interest income recognized | 482 | 364 | 427 | |
Allowance for loan and lease losses | 59,374 | 55,620 | 59,824 | 56,132 |
Non-PCI Loans | Commercial | Other | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 661 | 301 | ||
ALLL for loans and leases individually evaluated for impairment | 103 | 105 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 406 | 216 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 233 | 75 | ||
Financing Receivable, Individually Evaluated for Impairment | 639 | 291 | ||
Average balance | 396 | 135 | 426 | |
Interest income recognized | 11 | 3 | 22 | |
Allowance for loan and lease losses | 2,236 | 2,221 | 4,689 | 3,127 |
Non-PCI Loans | Noncommercial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 104,672 | 84,037 | ||
ALLL for loans and leases individually evaluated for impairment | 7,281 | 5,382 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 80,842 | 71,387 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 15,864 | 6,402 | ||
Financing Receivable, Individually Evaluated for Impairment | 96,706 | 77,789 | ||
Average balance | 88,461 | 74,526 | 53,392 | |
Interest income recognized | 2,649 | 2,425 | 1,674 | |
Non-PCI Loans | Noncommercial | Construction and land development | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 4,150 | 4,035 | ||
ALLL for loans and leases individually evaluated for impairment | 174 | 81 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,470 | 2,337 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,412 | 1,412 | ||
Financing Receivable, Individually Evaluated for Impairment | 3,882 | 3,749 | ||
Average balance | 3,589 | 3,677 | 3,383 | |
Interest income recognized | 116 | 172 | 145 | |
Allowance for loan and lease losses | 2,709 | 2,350 | 3,962 | 1,596 |
Non-PCI Loans | Noncommercial | Mortgage | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 64,741 | 45,226 | ||
ALLL for loans and leases individually evaluated for impairment | 3,278 | 1,901 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 48,796 | 40,359 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 11,646 | 1,809 | ||
Financing Receivable, Individually Evaluated for Impairment | 60,442 | 42,168 | ||
Average balance | 52,045 | 41,368 | 33,818 | |
Interest income recognized | 1,386 | 1,237 | 990 | |
Allowance for loan and lease losses | 18,232 | 15,472 | 15,706 | 14,447 |
Non-PCI Loans | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 31,960 | 31,371 | ||
ALLL for loans and leases individually evaluated for impairment | 2,722 | 2,515 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 26,104 | 25,751 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,765 | 3,101 | ||
Financing Receivable, Individually Evaluated for Impairment | 28,869 | 28,852 | ||
Average balance | 29,516 | 26,759 | 14,022 | |
Interest income recognized | 1,009 | 900 | 436 | |
Allowance for loan and lease losses | 19,702 | 21,862 | 22,436 | 21,013 |
Non-PCI Loans | Noncommercial | Consumer | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Unpaid principal balance | 3,821 | 3,405 | ||
ALLL for loans and leases individually evaluated for impairment | 1,107 | 885 | ||
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,472 | 2,940 | ||
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 41 | 80 | ||
Financing Receivable, Individually Evaluated for Impairment | 3,513 | 3,020 | ||
Average balance | 3,311 | 2,722 | 2,169 | |
Interest income recognized | 138 | 116 | 103 | |
Allowance for loan and lease losses | 34,593 | 35,841 | 31,204 | 28,287 |
PCI Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Acquired loans which have adverse change in expected cash flows | 139,400 | 186,600 | ||
Allowance for loan and lease losses | $ 7,536 | $ 9,144 | $ 10,026 | $ 13,769 |
Allowance for Loan and Lease _5
Allowance for Loan and Lease Losses (Troubled Debt Restructuring) (Details) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019USD ($)loans | Dec. 31, 2018USD ($)loans | Dec. 31, 2017USD ($)loans | Sep. 30, 2019USD ($) | |
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | $ 171,192 | $ 156,130 | $ 164,561 | |
Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 154,000 | 137,900 | 146,100 | |
Nonaccruing | 114,946 | 84,546 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 52,169 | $ 43,554 | $ 49,000 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 190 | 164 | 204 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 19,709 | $ 13,318 | $ 11,990 | |
PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 17,200 | 18,200 | 18,500 | |
Nonaccruing | 1,300 | $ 6,700 | ||
Commercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 77,536 | 74,560 | 95,392 | |
Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 42,407 | 18,529 | ||
Commercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,766 | 2,298 | 4,572 | |
Commercial | Construction and land development | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 4,281 | 666 | ||
Commercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 61,935 | 61,065 | 78,221 | |
Commercial | Mortgage | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 29,733 | 12,594 | ||
Commercial | Other commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 571 | 860 | 1,800 | |
Commercial | Other commercial real estate | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 708 | 366 | ||
Commercial | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 11,839 | 10,046 | 10,278 | |
Commercial | Commercial and industrial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 7,365 | 4,624 | ||
Commercial | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 425 | 291 | 521 | |
Commercial | Other | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 320 | 279 | ||
Noncommercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 93,656 | 81,570 | 69,169 | |
Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 72,539 | 66,017 | ||
Noncommercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 3,882 | 2,337 | 0 | |
Noncommercial | Construction and land development | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 2,828 | 1,823 | ||
Noncommercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 57,861 | 47,524 | 43,542 | |
Noncommercial | Revolving mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 28,399 | 28,688 | 22,853 | |
Noncommercial | Revolving mortgage | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 22,411 | 25,563 | ||
Noncommercial | Consumer and Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 3,514 | 3,021 | 2,774 | |
Performing Financial Instruments [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 128,750 | 127,093 | 130,391 | |
Performing Financial Instruments [Member] | Commercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 61,627 | 64,171 | 76,300 | |
Performing Financial Instruments [Member] | Commercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 487 | 1,946 | 4,089 | |
Performing Financial Instruments [Member] | Commercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 50,819 | 53,270 | 62,358 | |
Performing Financial Instruments [Member] | Commercial | Other commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 571 | 851 | 1,012 | |
Performing Financial Instruments [Member] | Commercial | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 9,430 | 7,986 | 8,320 | |
Performing Financial Instruments [Member] | Commercial | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 320 | 118 | 521 | |
Performing Financial Instruments [Member] | Noncommercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 67,123 | 62,922 | 54,091 | |
Performing Financial Instruments [Member] | Noncommercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 1,452 | 2,227 | 0 | |
Performing Financial Instruments [Member] | Noncommercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 41,813 | 37,903 | 34,067 | |
Performing Financial Instruments [Member] | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 21,032 | 20,492 | 17,673 | |
Performing Financial Instruments [Member] | Noncommercial | Consumer and Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Recorded Investment | 2,826 | 2,300 | 2,351 | |
Nonperforming Financial Instruments [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 42,442 | 29,037 | 34,170 | |
Nonperforming Financial Instruments [Member] | Commercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 15,909 | 10,389 | 19,092 | |
Nonperforming Financial Instruments [Member] | Commercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 2,279 | 352 | 483 | |
Nonperforming Financial Instruments [Member] | Commercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 11,116 | 7,795 | 15,863 | |
Nonperforming Financial Instruments [Member] | Commercial | Other commercial real estate | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 0 | 9 | 788 | |
Nonperforming Financial Instruments [Member] | Commercial | Commercial and industrial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 2,409 | 2,060 | 1,958 | |
Nonperforming Financial Instruments [Member] | Commercial | Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 105 | 173 | 0 | |
Nonperforming Financial Instruments [Member] | Noncommercial | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 26,533 | 18,648 | 15,078 | |
Nonperforming Financial Instruments [Member] | Noncommercial | Construction and land development | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 2,430 | 110 | 0 | |
Nonperforming Financial Instruments [Member] | Noncommercial | Mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 16,048 | 9,621 | 9,475 | |
Nonperforming Financial Instruments [Member] | Noncommercial | Revolving mortgage | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 7,367 | 8,196 | 5,180 | |
Nonperforming Financial Instruments [Member] | Noncommercial | Consumer and Other | ||||
Financing Receivable, Modifications [Line Items] | ||||
Nonaccruing | 688 | 721 | 423 | |
Extended Maturity [Member] | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 4,246 | $ 5,487 | $ 6,517 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 6 | 8 | 2 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 839 | $ 865 | $ 273 | |
Extended Maturity [Member] | Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 3,904 | $ 3,933 | $ 3,007 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 5 | 4 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 533 | $ 675 | $ 0 | |
Extended Maturity [Member] | Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 342 | $ 1,554 | $ 3,510 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | 4 | 2 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 306 | $ 190 | $ 273 | |
Interest Rate Below Market Reduction [Member] | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 26,390 | $ 28,404 | $ 30,412 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 90 | 92 | 110 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 6,648 | $ 8,459 | $ 7,983 | |
Interest Rate Below Market Reduction [Member] | Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 13,932 | $ 12,859 | $ 14,811 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 24 | 24 | 32 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,634 | $ 2,998 | $ 3,392 | |
Interest Rate Below Market Reduction [Member] | Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 12,458 | $ 15,545 | $ 15,601 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 66 | 68 | 78 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 4,014 | $ 5,461 | $ 4,591 | |
Discharge of Debt [Member] | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 15,920 | $ 8,660 | $ 10,865 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 91 | 64 | 91 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 9,267 | $ 3,994 | $ 3,100 | |
Discharge of Debt [Member] | Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,571 | $ 2,043 | $ 3,012 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 20 | 8 | 26 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 5,028 | $ 825 | $ 708 | |
Discharge of Debt [Member] | Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 10,349 | $ 6,617 | $ 7,853 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 71 | 56 | 65 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 4,239 | $ 3,169 | $ 2,392 | |
Principal Forgiveness [Member] | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 5,613 | $ 1,003 | $ 1,206 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 3 | 0 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,955 | $ 0 | $ 634 | |
Principal Forgiveness [Member] | Commercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 1,595 | $ 1,003 | $ 1,124 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | 0 | 1 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 238 | $ 0 | $ 634 | |
Principal Forgiveness [Member] | Noncommercial | Non-PCI Loans | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 4,018 | $ 0 | $ 82 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 0 | 0 | |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 2,717 | $ 0 | $ 0 |
Allowance for Loan and Lease _6
Allowance for Loan and Lease Losses (Note Restructurings During Period) (Details) - Non-PCI Loans $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($)loans | Dec. 31, 2018USD ($)loans | Dec. 31, 2017USD ($)loans | |
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 190 | 164 | 204 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 19,709 | $ 13,318 | $ 11,990 |
Financing Receivable, Modifications, Number of Contracts | loans | 505 | 491 | 632 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 52,169 | $ 43,554 | $ 49,000 |
Principal Forgiveness [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 3 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 2,955 | $ 0 | $ 634 |
Financing Receivable, Modifications, Number of Contracts | loans | 18 | 3 | 6 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 5,613 | $ 1,003 | $ 1,206 |
Principal Forgiveness [Member] | Commercial | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | 0 | 1 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 238 | $ 0 | $ 634 |
Financing Receivable, Modifications, Number of Contracts | loans | 11 | 3 | 5 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 1,595 | $ 1,003 | $ 1,124 |
Principal Forgiveness [Member] | Noncommercial | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 2 | 0 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 2,717 | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 7 | 0 | 1 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 4,018 | $ 0 | $ 82 |
Extended Maturity [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 6 | 8 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 839 | $ 865 | $ 273 |
Financing Receivable, Modifications, Number of Contracts | loans | 18 | 42 | 47 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 4,246 | $ 5,487 | $ 6,517 |
Extended Maturity [Member] | Commercial | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 5 | 4 | 0 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 533 | $ 675 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | loans | 16 | 21 | 13 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 3,904 | $ 3,933 | $ 3,007 |
Extended Maturity [Member] | Noncommercial | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 1 | 4 | 2 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 306 | $ 190 | $ 273 |
Financing Receivable, Modifications, Number of Contracts | loans | 2 | 21 | 34 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 342 | $ 1,554 | $ 3,510 |
Interest Rate Below Market Reduction [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 90 | 92 | 110 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 6,648 | $ 8,459 | $ 7,983 |
Financing Receivable, Modifications, Number of Contracts | loans | 266 | 269 | 363 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 26,390 | $ 28,404 | $ 30,412 |
Interest Rate Below Market Reduction [Member] | Commercial | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 24 | 24 | 32 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 2,634 | $ 2,998 | $ 3,392 |
Financing Receivable, Modifications, Number of Contracts | loans | 90 | 85 | 92 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 13,932 | $ 12,859 | $ 14,811 |
Interest Rate Below Market Reduction [Member] | Noncommercial | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 66 | 68 | 78 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 4,014 | $ 5,461 | $ 4,591 |
Financing Receivable, Modifications, Number of Contracts | loans | 176 | 184 | 271 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 12,458 | $ 15,545 | $ 15,601 |
Discharge of Debt [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 91 | 64 | 91 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 9,267 | $ 3,994 | $ 3,100 |
Financing Receivable, Modifications, Number of Contracts | loans | 203 | 177 | 216 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 15,920 | $ 8,660 | $ 10,865 |
Discharge of Debt [Member] | Commercial | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 20 | 8 | 26 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 5,028 | $ 825 | $ 708 |
Financing Receivable, Modifications, Number of Contracts | loans | 25 | 26 | 39 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 5,571 | $ 2,043 | $ 3,012 |
Discharge of Debt [Member] | Noncommercial | |||
Financing Receivable, Modifications [Line Items] | |||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | loans | 71 | 56 | 65 |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ | $ 4,239 | $ 3,169 | $ 2,392 |
Financing Receivable, Modifications, Number of Contracts | loans | 178 | 151 | 177 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ | $ 10,349 | $ 6,617 | $ 7,853 |
Premises and Equipment (Major C
Premises and Equipment (Major Classifications) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 2,159,367 | $ 2,096,239 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 914,971 | 892,060 | |
Property, Plant and Equipment, Net | 1,244,396 | 1,204,179 | |
Depreciation | 103,828 | 96,781 | $ 90,804 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 335,093 | 306,734 | |
Premises and leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 1,228,588 | 1,228,582 | |
Furniture, equipment and software | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 595,686 | $ 560,923 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Real Estate Properties [Line Items] | ||
Mortgage Loans in Process of Foreclosure, Amount | $ 23,000 | $ 22,000 |
OREO | ||
Beginning balance | 48,030 | 51,097 |
Additions | 21,684 | 24,997 |
Sales | (24,432) | (28,128) |
Write-downs/losses | (4,150) | (4,390) |
Ending balance | 46,591 | 48,030 |
2018 Acquisitions | ||
OREO | ||
Additions | 4,454 | |
2019 Acquisitions | ||
OREO | ||
Additions | 5,459 | |
Mortgage | ||
OREO | ||
Beginning balance | 17,200 | |
Ending balance | $ 14,500 | $ 17,200 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets (Details) | 12 Months Ended | |||
Dec. 31, 2019USD ($)$ / loansRate | Dec. 31, 2018USD ($)$ / loansRate | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Goodwill [Roll Forward] | ||||
Beginning goodwill | $ 236,347,000 | $ 150,601,000 | ||
Ending goodwill | 349,398,000 | 236,347,000 | $ 150,601,000 | |
Servicing Asset at Amortized Cost | 22,963,000 | 21,396,000 | 21,945,000 | $ 20,415,000 |
Servicing Asset at Amortized Cost, Additions | 6,149,000 | 5,258,000 | 7,174,000 | |
Amortization | (6,233,000) | (5,807,000) | (5,648,000) | |
Valuation Allowance for Impairment of Recognized Servicing Assets, Provisions (Recoveries) | $ 222,000 | $ 0 | (4,000) | |
Residential Mortgage Loans Serviced | 2,810,000,000 | |||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | Rate | 13.72% | 9.26% | ||
Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset | $ 7,900,000 | $ 7,500,000 | 7,100,000 | |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Cost to Service Loans | $ / loans | 87.09 | 87.52 | ||
Finite-lived Intangible Assets [Roll Forward] | ||||
Beginning balance | $ 48,232,000 | $ 51,151,000 | ||
Amortization | 16,346,000 | 17,165,000 | ||
Ending balance | 43,386,000 | 48,232,000 | 51,151,000 | |
Finite-Lived Intangible Assets [Abstract] | ||||
Gross balance | 154,507,000 | 143,007,000 | ||
Accumulated amortization | 111,121,000 | 94,775,000 | ||
Carrying value | 43,386,000 | 48,232,000 | ||
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||||
2019 | 14,165,000 | |||
2020 | 10,850,000 | |||
2021 | 7,658,000 | |||
2022 | 5,056,000 | |||
2024 and subsequent | 5,657,000 | |||
Other servicing rights | 1,900,000 | 2,700,000 | ||
Biscayne Bancshares | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 46,521,000 | |||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 4,745,000 | |||
First South Bancorp | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 13,896,000 | |||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 2,268,000 | |||
Entegra Financial | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 52,634,000 | |||
Ending goodwill | 52,634,000 | |||
Servicing Asset at Amortized Cost, Additions | 1,873,000 | 0 | $ 0 | |
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 4,487,000 | |||
HomeBancorp Inc. | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 57,616,000 | |||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 0 | 9,860,000 | ||
Capital Commerce Bancorp | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 10,680,000 | |||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | 0 | 2,680,000 | ||
Palmetto Heritage Bancshares | ||||
Goodwill [Roll Forward] | ||||
Goodwill acquired | 17,450,000 | |||
Finite-lived Intangible Assets [Roll Forward] | ||||
Intangible assets acquired | $ 0 | $ 1,706,000 | ||
Conventional fixed loans | ||||
Goodwill [Roll Forward] | ||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | Rate | 8.92% | 9.69% | ||
All loans and leases excluding conventional fixed loans [Member] | ||||
Goodwill [Roll Forward] | ||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | Rate | 9.92% | 10.69% | ||
Minimum | ||||
Goodwill [Roll Forward] | ||||
Useful life (years) | 5 years | |||
Maximum | ||||
Goodwill [Roll Forward] | ||||
Useful life (years) | 12 years | |||
Core Deposit Intangibles | ||||
Goodwill [Roll Forward] | ||||
Useful life (years) | 10 years 2 months 12 days |
Deposits (Details)
Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Deposits [Abstract] | ||
FDIC Deposit Insurance Limit | $ 250 | |
Time Deposits Greater than $250,000, Carrying Value | $ 891,200 | 567,300 |
Deposits, by Type [Abstract] | ||
Demand | 12,926,796 | 11,882,670 |
Checking with interest | 5,782,967 | 5,338,511 |
Money market accounts | 9,319,087 | 8,194,818 |
Savings | 2,564,777 | 2,499,750 |
Time | 3,837,609 | 2,756,711 |
Total deposits | 34,431,236 | $ 30,672,460 |
Maturities of Time Deposits [Abstract] | ||
2019 | 2,971,410 | |
2020 | 306,490 | |
2021 | 386,094 | |
2022 | 106,782 | |
2023 | 49,453 | |
Thereafter | $ 17,380 |
FDIC Shared-Loss Payable (Chang
FDIC Shared-Loss Payable (Changes in Receivable from FDIC) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
FDIC Shared-Loss Receivable [Abstract] | ||
FDIC shared-loss payable | $ 105,618 | $ 105,618 |
FDIC Indemnification Asset [Roll Forward] | ||
Beginning balance | 105,618 | 101,342 |
Accretion | 6,777 | 4,023 |
Adjustments related to changes in assumptions | 0 | 253 |
Ending balance | $ 112,395 | $ 105,618 |
Borrowings (Short-Term) (Detail
Borrowings (Short-Term) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Short-term Debt [Line Items] | ||
Short-term borrowings | $ 738,233 | $ 572,287 |
Additional secured debt available | 8,990,000 | |
Securities sold under customer repurchase agreements | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 442,956 | 543,936 |
Notes payable to FHLB of Atlanta | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 255,000 | 28,500 |
Other short-term debt | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 40,277 | 0 |
Unamortized purchase accounting adjustments | ||
Short-term Debt [Line Items] | ||
Short-term borrowings | 0 | $ (149) |
Unsecured Debt | ||
Short-term Debt [Line Items] | ||
Accessible overnight borrowings | $ 582,700 |
Borrowings (Repurchase Agreemen
Borrowings (Repurchase Agreements) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | $ 477,600 | |
Securities Sold under Agreements to Repurchase | 442,956 | $ 543,936 |
Available-for-sale Securities | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | 598,600 | |
Government Agency Securities | Overnight and Continuous | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 443,000 | |
U. S. Treasury | Overnight and Continuous | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Securities Sold under Agreements to Repurchase | $ 543,900 |
Borrowings (Long-Term Obligatio
Borrowings (Long-Term Obligations) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
2019 | $ 61,995 | |
2020 | 13,332 | |
2021 | 114,138 | |
2022 | 125,500 | |
2023 | 6,526 | |
Thereafter | 267,147 | |
Total long-term obligations | 588,638 | $ 319,867 |
Trust Preferred Securities | 128,500 | 118,500 |
Junior Subordinated Debt [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 132,500 | 122,200 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 1.75% maturing June 30, 2036 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 88,145 | 88,145 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 1.75% maturing June 30, 2036 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 1.75% | |
Description of variable rate basis | 3-month LIBOR | |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.25% maturing June 15, 2034 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 19,588 | 19,588 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.25% maturing June 15, 2034 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 2.25% | |
Description of variable rate basis | 3-month LIBOR | |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.85% maturing April 7, 2034 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 10,310 | 10,310 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.85% maturing April 7, 2034 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 2.85% | |
Description of variable rate basis | 3-month LIBOR | |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.00% maturing July 7, 2036 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 0 | 4,124 |
Junior Subordinated Debt [Member] | Junior subordinated debenture at 3-month LIBOR plus 2.00% maturing July 7, 2036 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 2.00% | |
Description of variable rate basis | 3-month LIBOR | |
Junior Subordinated Debt [Member] | Junior subordinated debentures at 3-month LIBOR plus 2.80% maturing March 30, 2034 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 14,433 | $ 0 |
Junior Subordinated Debt [Member] | Junior subordinated debentures at 3-month LIBOR plus 2.80% maturing March 30, 2034 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 2.80% | |
Description of variable rate basis | 3-month LIBOR | |
Junior Subordinated Debt [Member] | Junior subordinated debentures at 7.00% maturing December 31, 2026 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 7.00% | |
Junior Subordinated Debt [Member] | Junior subordinated debentures at 6.50% maturing October 1, 2025 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 6.50% | |
Junior Subordinated Debt [Member] | Junior subordinated debentures at 7.13% maturing February 25, 2025 | Libor 3 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 7.13% | |
Capital Lease Obligations [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 8,230 | $ 13,160 |
Notes payable to FHLB of Atlanta | Notes payable to FHLBs of Atlanta and Chicago with rates ranging from 0.75% to 3.17% and maturing through March 2032 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 317,191 | $ 165,205 |
Notes payable to FHLB of Atlanta | Notes payable to FHLBs of Atlanta and Chicago with rates ranging from 0.75% to 3.17% and maturing through March 2032 | Minimum | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 0.75% | |
Notes payable to FHLB of Atlanta | Notes payable to FHLBs of Atlanta and Chicago with rates ranging from 0.75% to 3.17% and maturing through March 2032 | Maximum | ||
Debt Instrument [Line Items] | ||
Debt interest rate | 3.17% | |
Subordinated Debt [Member] | Junior subordinated debentures at 7.00% maturing December 31, 2026 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 20,000 | $ 20,000 |
Subordinated Debt [Member] | Junior subordinated debentures at 6.50% maturing October 1, 2025 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 7,500 | 0 |
Subordinated Debt [Member] | Junior subordinated debentures at 7.13% maturing February 25, 2025 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 5,000 | 0 |
Unamortized Purchase Accounting Adjustments [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | (1,569) | (1,426) |
Other Long Term Debt [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | 3,385 | 761 |
Unsecured Term Loan [Member] | Unsecured term loan at 1-month LIBOR plus 1.10% maturing September 5, 2022 | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 96,425 | 0 |
Unsecured Term Loan [Member] | Unsecured term loan at 1-month LIBOR plus 1.10% maturing September 5, 2022 | Libor 1 Month Rate [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable rate | 1.10% | |
Biscayne Bancshares And HomeBancorp [Member] | Subordinated Debt [Member] | ||
Long-term Debt, Fiscal Year Maturity [Abstract] | ||
Total long-term obligations | $ 32,500 | $ 20,000 |
Shareholders' Equity, Dividen_3
Shareholders' Equity, Dividends Restrictions and Other Regulatory Matters (Details) $ / shares in Units, $ in Thousands | 2 Months Ended | 12 Months Ended | |||||
Feb. 14, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)votes / shares$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($) | Jan. 28, 2020shares | Jan. 01, 2018 | Jan. 01, 2016 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Capital required for common equity Tier 1 capital to risk-weighted assets | 4.50% | ||||||
Dividends from subsidiaries | $ 149,819 | ||||||
Tier 1 Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 6.00% | ||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | ||||||
Leverage Capital Required Ratio To Tangible Assets | 4.00% | ||||||
Tier 2 capital | $ 32,500 | $ 20,000 | |||||
Stock repurchases during period | $ 450,800 | $ 165,300 | |||||
Price of repurchased shares (usd per share) | $ / shares | $ 451.33 | $ 432.78 | |||||
Outstanding Shares Repurchased, Percent | 9.40% | 3.50% | |||||
Maximum Undivided Profits Elgible For Dividend Payment Without Changing Well Capitalized Status | $ 651,700 | ||||||
Average Required Maintence Of Non Interst Bearing Reserve Balance | $ 730,700 | ||||||
Capital Conservation Buffer, Annual Percentage Increase | 0.625% | ||||||
Capital Conservation Buffer | 2.50% | 1.875% | 0.625% | ||||
Fully Phased In 2019 Capital Conservation Buffer | 2.50% | ||||||
Subsequent Event | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Stock repurchases during period | $ 63,800 | ||||||
Price of repurchased shares (usd per share) | $ / shares | $ 527.27 | ||||||
Common Class A [Member] | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Votes per share of common stock | votes / shares | 1 | ||||||
Stock repurchases (shares) | shares | 998,910 | 382,000 | |||||
Stock repurchases during period | $ 450,880 | $ 165,338 | |||||
Stock Repurchased and Retired During Period, Shares | shares | 998,910 | 382,000 | |||||
Common Class A [Member] | Subsequent Event | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares | 500,000 | ||||||
Stock repurchases (shares) | shares | 120,990 | ||||||
Class B Common Stock | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Votes per share of common stock | votes / shares | 16 | ||||||
Parent | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Dividends from subsidiaries | $ 242,910 | $ 50,400 | |||||
BancShares [Member] | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Tier 1 Capital for Capital Adequacy | $ 3,344,305 | 3,463,307 | |||||
Capital Required for Capital Adequacy | 3,731,501 | 3,826,626 | |||||
Leverage Capital Required for Capital Adequacy | $ 3,344,305 | $ 3,463,307 | |||||
Tier 1 Risk Based Capital to Risk Weighted Assets | 10.86% | 12.67% | |||||
Capital to Risk Weighted Assets | 12.12% | 13.99% | |||||
Leverage Capital to Average Assets | 8.81% | 9.77% | |||||
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | ||||||
Common equity Tier 1 | $ 3,344,305 | $ 3,463,307 | |||||
Common equity Tier 1 to risk-weighted assets | 10.86% | 12.67% | |||||
Common equity Tier 1 required to be well capitalized to risk-weighted assets | 6.50% | ||||||
Capital Required to be Well Capitalized | 10.00% | ||||||
Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | ||||||
Capital Conservation Buffer | 4.12% | ||||||
FCB [Member] | |||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||||||
Tier 1 Capital for Capital Adequacy | $ 3,554,974 | $ 3,315,742 | |||||
Capital Required for Capital Adequacy | 3,837,670 | 3,574,561 | |||||
Leverage Capital Required for Capital Adequacy | $ 3,554,974 | $ 3,315,742 | |||||
Tier 1 Risk Based Capital to Risk Weighted Assets | 11.54% | 12.17% | |||||
Capital to Risk Weighted Assets | 12.46% | 13.12% | |||||
Leverage Capital to Average Assets | 9.38% | 9.39% | |||||
Tier 1 Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% | ||||||
Common equity Tier 1 | $ 3,554,974 | $ 3,315,742 | |||||
Common equity Tier 1 to risk-weighted assets | 11.54% | 12.17% | |||||
Common equity Tier 1 required to be well capitalized to risk-weighted assets | 6.50% | ||||||
Capital Required to be Well Capitalized | 10.00% | ||||||
Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | ||||||
Capital Conservation Buffer | 4.46% |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss), before Tax | $ (164,576) | $ (305,438) | |
Deferred tax expense (benefit) | (37,853) | (70,251) | |
Accumulated other comprehensive income (loss), net of tax | (126,723) | (235,187) | |
Income taxes | (134,677) | (103,297) | $ (219,946) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (18,292) | (23,667) | |
Unrealized gains (losses) on securities available for sale | |||
Accumulated Other Comprehensive Income (Loss), before Tax | 7,522 | (50,007) | |
Deferred tax expense (benefit) | 1,730 | (11,502) | |
Accumulated other comprehensive income (loss), net of tax | 5,792 | (38,505) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 5,479 | 270 | |
Defined benefit pension items | |||
Accumulated Other Comprehensive Income (Loss), before Tax | (172,098) | (163,030) | |
Deferred tax expense (benefit) | (39,583) | (37,497) | |
Accumulated other comprehensive income (loss), net of tax | (132,515) | (125,533) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (8,456) | (10,765) | |
Reclassification adjustment for losses included in income before income taxes | 10,924 | 13,902 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax | (10,981) | (13,981) | |
Unrealized losses on securities available for sale transferred from (to) held to maturity | |||
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Before Tax | (19,889) | (17,106) | |
Accumulated Other Comprehensive Income (Loss), before Tax | 0 | (92,401) | |
Deferred tax expense (benefit) | 0 | (21,252) | |
Accumulated other comprehensive income (loss), net of tax | 0 | (71,149) | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (15,315) | (13,172) | |
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Tax | 4,574 | 3,934 | |
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Net Of Tax | $ (15,315) | $ (13,172) |
Accumulated Other Comrehensive
Accumulated Other Comrehensive Loss (Components of AOCI) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated other comprehensive loss | $ 18,292 | $ 23,667 | |
Net current period other comprehensive income (loss) | 108,464 | (62,842) | $ 12,898 |
Unrealized gains (losses) on securities available for sale | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Stockholders' equity | (38,505) | (60,696) | |
Net unrealized gains (losses) arising during period | 49,776 | 22,461 | |
Amounts reclassified from accumulated other comprehensive loss | (5,479) | (270) | |
Net current period other comprehensive income (loss) | 44,297 | 22,191 | |
Stockholders' equity | 5,792 | (38,505) | (60,696) |
Unrealized losses on securities available for sale transferred from (to) held to maturity | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Stockholders' equity | (71,149) | 0 | |
Net unrealized gains (losses) arising during period | 55,834 | (84,321) | |
Amounts reclassified from accumulated other comprehensive loss | 15,315 | 13,172 | |
Net current period other comprehensive income (loss) | 71,149 | (71,149) | |
Stockholders' equity | 0 | (71,149) | 0 |
Defined Benefit Pension Items | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Stockholders' equity | (125,533) | (111,649) | |
Net unrealized gains (losses) arising during period | (15,438) | (24,649) | |
Amounts reclassified from accumulated other comprehensive loss | 8,456 | 10,765 | |
Net current period other comprehensive income (loss) | (6,982) | (13,884) | |
Stockholders' equity | (132,515) | (125,533) | (111,649) |
Accumulated Other Comprehensive Loss | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Stockholders' equity | (235,187) | (172,345) | |
Net unrealized gains (losses) arising during period | 90,172 | (86,509) | |
Amounts reclassified from accumulated other comprehensive loss | 18,292 | 23,667 | |
Net current period other comprehensive income (loss) | 108,464 | (62,842) | 12,898 |
Stockholders' equity | $ (126,723) | (235,187) | (172,345) |
Pre-adoption | Unrealized gains (losses) on securities available for sale | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Stockholders' equity | (30,945) | ||
Stockholders' equity | (30,945) | ||
Pre-adoption | Unrealized losses on securities available for sale transferred from (to) held to maturity | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Stockholders' equity | 0 | ||
Stockholders' equity | 0 | ||
Pre-adoption | Defined Benefit Pension Items | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Stockholders' equity | (91,349) | ||
Stockholders' equity | (91,349) | ||
Pre-adoption | Accumulated Other Comprehensive Loss | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Stockholders' equity | $ (122,294) | ||
Stockholders' equity | (122,294) | ||
Effect of adoption | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Cumulative effect adjustments | (50,051) | ||
Effect of adoption | Unrealized gains (losses) on securities available for sale | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Cumulative effect adjustments | (29,751) | ||
Effect of adoption | Unrealized losses on securities available for sale transferred from (to) held to maturity | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Cumulative effect adjustments | 0 | ||
Effect of adoption | Defined Benefit Pension Items | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Cumulative effect adjustments | $ (20,300) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss (Reclassifications out of AOCI) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | $ 7,115 | $ 351 | $ 4,293 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | (1,636) | (81) | (1,588) |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax | 2,525 | 3,216 | $ 3,596 |
Amounts reclassified from accumulated other comprehensive income, net of tax | 18,292 | 23,667 | |
Unrealized gains (losses) on securities available for sale | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 7,115 | 351 | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | (1,636) | (81) | |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 5,479 | 270 | |
Amounts reclassified from accumulated other comprehensive income, net of tax | (5,479) | (270) | |
Unrealized losses on securities available for sale transferred from (to) held to maturity | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Before Tax | (19,889) | (17,106) | |
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Tax | 4,574 | 3,934 | |
Other Comprehensive Income (Loss) Reclassification Adjustment Of Unrealized Losses From AOCI For Securities Available For Sale Transferred To Held To Maturity Net Of Tax | (15,315) | (13,172) | |
Amounts reclassified from accumulated other comprehensive income, net of tax | 15,315 | 13,172 | |
Defined Benefit Pension Items | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax | (57) | (79) | |
Reclassification adjustment for losses included in income before income taxes | (10,924) | (13,902) | |
Total before taxes | 10,981 | 13,981 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax | 2,525 | 3,216 | |
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax | 8,456 | 10,765 | |
Amounts reclassified from accumulated other comprehensive income, net of tax | $ 8,456 | $ 10,765 |
Other Noninterest Income and _3
Other Noninterest Income and Other Noninterest Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Income | $ 18,431 | $ 19,700 | $ 29,081 |
Other Noninterest Expense | 139,283 | 147,063 | 142,430 |
PCI Loans | |||
Other Operating Cost and Expense [Line Items] | |||
Proceeds from Recoveries of Loans Previously Charged off | 17,400 | 16,600 | 21,100 |
Telecommunication | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 16,346 | 17,165 | 17,194 |
Consultant | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 12,801 | 14,345 | 14,963 |
Core Deposit Intangible Amortization | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 11,437 | 11,650 | 11,227 |
Advertising | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | 9,391 | 10,471 | 12,172 |
Other Expense | |||
Other Operating Cost and Expense [Line Items] | |||
Other Noninterest Expense | $ 89,308 | $ 93,432 | $ 86,874 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Valuation Allowance [Line Items] | |||
Tax Credit Carryforward, Valuation Allowance | $ 0 | ||
Deferred Tax Assets, Operating Loss Carryforwards | 48,300,000 | ||
Deferred tax assets, state net operating loss carryforward | $ 24,600,000 | ||
Increase in tax expense attributable to revaluation of deferred tax assets | (15,736,000) | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 429,000 | 564,000 | $ 450,000 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning balance of unrecognized tax benefits | 28,255,000 | 29,004,000 | 28,879,000 |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (683,000) | (1,054,000) | (44,000) |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 6,554,000 | 1,433,000 | 169,000 |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | (1,900,000) | (1,128,000) | 0 |
Ending balance of unrecognized tax benefits | 32,226,000 | 28,255,000 | 29,004,000 |
Current tax expense | |||
Federal | 68,984,000 | 95,151,000 | 87,992,000 |
State | 11,095,000 | 21,523,000 | 6,116,000 |
Total current tax expense | 80,079,000 | 116,674,000 | 94,108,000 |
Deferred Income Tax Expense (Benefit) | |||
Federal | 50,522,000 | (10,944,000) | 115,392,000 |
State | 4,076,000 | (2,433,000) | 10,446,000 |
Total deferred tax expense | 54,598,000 | (13,377,000) | 125,838,000 |
Total income tax expense | $ 134,677,000 | $ 103,297,000 | 219,946,000 |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Federal statutory rate | 21.00% | 35.00% | |
Income taxes at federal statutory rates | $ 124,330,000 | $ 105,758,000 | 190,294,000 |
Nontaxable income on loans, leases and investments, net of nondeductible expenses | (1,639,000) | (1,796,000) | (2,525,000) |
Excess tax benefits of compensation | 1,070,000 | 371,000 | 0 |
State and local income taxes, including any change in valuation allowance, net of federal income tax benefit | 11,985,000 | 15,081,000 | 10,765,000 |
Effect of federal rate change | 0 | 25,762,000 | |
Tax credits net of amortization | (4,474,000) | (2,891,000) | (4,840,000) |
Other, net | 3,405,000 | 2,510,000 | 490,000 |
Total income tax expense | 134,677,000 | 103,297,000 | $ 219,946,000 |
Deferred Tax Assets, Net [Abstract] | |||
Allowance for loan and lease losses | 53,073,000 | 53,391,000 | |
Operating lease liabilities | 17,752,000 | ||
Executive separation from service agreements | 12,334,000 | 7,927,000 | |
Federal net operating loss carryforward | 11,085,000 | 6,862,000 | |
Net unrealized loss included in comprehensive income | 0 | 32,663,000 | |
Employee compensation | 13,313,000 | 11,145,000 | |
Deferred Tax Assets, FDIC-Assisted Transaction Timing Differences | 8,678,000 | 7,622,000 | |
Deferred Tax Assets, Other reserves | 5,001,000 | 5,574,000 | |
Other | 10,698,000 | 9,555,000 | |
Deferred tax asset | 131,934,000 | 134,739,000 | |
Deferred Tax Liabilities, accelerated depreciation | 51,249,000 | 4,987,000 | |
Lease financing activities | 8,101,000 | 12,674,000 | |
Operating lease assets | 17,837,000 | ||
Net unrealized gain on securities included in accumulated other comprehensive loss | 1,821,000 | 0 | |
Net deferred loan fees and costs | 11,781,000 | 10,651,000 | |
Intangible assets | 9,148,000 | 11,713,000 | |
Deferred Tax Liability, Security, loan and debt valuations | 5,767,000 | 4,557,000 | |
Pension liability | 5,079,000 | 6,287,000 | |
Other | 15,993,000 | 1,722,000 | |
Deferred tax liability | 126,776,000 | 52,591,000 | |
Net deferred tax assets | $ 5,158,000 | $ 82,148,000 |
Estimated Fair Values (Narrativ
Estimated Fair Values (Narrative) (Details) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 289 | $ 50 | $ 2,900 |
Asset transfers between Level 1 and Level 2 | 0 | 0 | |
Asset transfers between Level 2 and Level 1 | 0 | 0 | |
Liability transfers between Level 2 and Level 1 | $ 0 | $ 0 | |
Minimum | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Effective Interest Rate For Discounted Cash Flow | 2.00% | ||
Discounts for collateral value estimates due to estimated holding and selling costs (percent) | 6.00% | ||
Minimum | Discount Rate | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held-for-sale, measurement input | 6 | ||
OREO, measurement input | 6 | ||
Minimum | Effective Interest Rate | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held-for-sale, measurement input | 3 | ||
Maximum | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Effective Interest Rate For Discounted Cash Flow | 18.00% | ||
Discounts for collateral value estimates due to estimated holding and selling costs (percent) | 11.00% | ||
Maximum | Discount Rate | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held-for-sale, measurement input | 11 | ||
OREO, measurement input | 11 | ||
Maximum | Effective Interest Rate | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held-for-sale, measurement input | 7 | ||
Fair Value, Measurements, Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liability measured at fair value on nonrecurring basis | $ 0 | ||
Fair Value, Measurements, Nonrecurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liability measured at fair value on nonrecurring basis | 0 | ||
Corporate Bond Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ 112,600 | ||
Transfers from Level 2 to Level 3 | $ 65,300 |
Estimated Fair Values (Estimate
Estimated Fair Values (Estimated Fair Values For Certain Financial Assets And Financial Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | $ 376,719 | $ 327,440 | |
Overnight investments | 1,107,844 | 797,406 | |
Investment securities available for sale | 7,059,674 | 4,557,110 | |
Investment securities held to maturity | 30,996 | 2,184,653 | |
Investment in marketable equity securities | 82,333 | 92,599 | |
Loans held for sale | 67,900 | 45,500 | |
Net loans and leases | 28,656,355 | 25,299,564 | |
Income earned not collected | 123,154 | 109,903 | |
Preferred stock | 0 | 0 | |
Deposits | 34,431,236 | 30,672,460 | |
Securities Sold under Agreements to Repurchase | 442,956 | 543,936 | |
Subordinated Debt | 163,412 | 140,741 | |
Other Borrowings | 148,318 | 13,921 | |
FDIC shared-loss payable | 112,395 | 105,618 | $ 101,342 |
Carrying Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | 376,719 | 327,440 | |
Overnight investments | 1,107,844 | 797,406 | |
Investment securities available for sale | 7,059,674 | 4,557,110 | |
Investment securities held to maturity | 30,996 | 2,184,653 | |
Investment in marketable equity securities | 82,333 | 92,599 | |
Loans held for sale | 67,869 | 45,505 | |
Net loans and leases | 28,656,355 | 25,299,564 | |
Income earned not collected | 123,154 | 109,903 | |
Federal Home Loan Bank stock | 43,039 | 25,304 | |
Mortgage servicing assets | 24,891 | 24,066 | |
Deposits | 34,431,236 | 30,672,460 | |
Securities Sold under Agreements to Repurchase | 442,956 | 543,936 | |
Federal Home Loan Bank Advances | 572,185 | 193,556 | |
Subordinated Debt | 163,412 | 140,741 | |
Other Borrowings | 148,318 | 13,921 | |
FDIC shared-loss payable | 112,395 | 105,618 | |
Accrued interest payable | 18,124 | 3,712 | |
Fair Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Cash and due from banks | 376,719 | 327,440 | |
Overnight investments | 1,107,844 | 797,406 | |
Investment securities available for sale | 7,059,674 | 4,557,110 | |
Investment securities held to maturity | 30,996 | 2,201,502 | |
Investment in marketable equity securities | 82,333 | 92,599 | |
Loans held for sale | 67,869 | 45,505 | |
Net loans and leases | 28,878,550 | 24,845,060 | |
Income earned not collected | 123,154 | 109,903 | |
Federal Home Loan Bank stock | 43,039 | 25,304 | |
Mortgage servicing assets | 26,927 | 27,435 | |
Deposits | 34,435,789 | 30,623,214 | |
Securities Sold under Agreements to Repurchase | 442,956 | 543,936 | |
Federal Home Loan Bank Advances | 577,362 | 195,374 | |
Subordinated Debt | 173,685 | 151,670 | |
Other Borrowings | 149,232 | 13,985 | |
FDIC shared-loss payable | 114,252 | 105,846 | |
Accrued interest payable | $ 18,124 | $ 3,712 |
Estimated Fair Values (Assets A
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 7,059,674 | $ 4,557,110 |
Investment in marketable equity securities (cost of $59,262 at December 31, 2019 and $73,809 at December 31, 2018) | 82,333 | 92,599 |
Loans held for sale | 67,869 | 45,505 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 7,059,674 | 4,557,110 |
Loans held for sale | 67,869 | 45,505 |
Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | 0 |
Loans held for sale | 0 | 0 |
Fair Value, Measurements, Recurring | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 6,989,989 | 4,413,884 |
Loans held for sale | 67,869 | 45,505 |
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 69,685 | 143,226 |
Loans held for sale | 0 | 0 |
Fair Value, Measurements, Recurring | U.S. Treasury | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 409,999 | |
Available-for-sale Securities | 1,247,710 | |
Fair Value, Measurements, Recurring | U.S. Treasury | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | U.S. Treasury | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 409,999 | |
Available-for-sale Securities | 1,247,710 | |
Fair Value, Measurements, Recurring | U.S. Treasury | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | Government Agency | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 682,772 | |
Available-for-sale Securities | 256,835 | |
Fair Value, Measurements, Recurring | Government Agency | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | Government Agency | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 682,772 | |
Available-for-sale Securities | 256,835 | |
Fair Value, Measurements, Recurring | Government Agency | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 5,267,090 | |
Available-for-sale Securities | 2,909,339 | |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 5,267,090 | |
Available-for-sale Securities | 2,909,339 | |
Fair Value, Measurements, Recurring | Mortgage Backed Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | Commercial Mortgage Backed Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 380,020 | |
Fair Value, Measurements, Recurring | Commercial Mortgage Backed Securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Fair Value, Measurements, Recurring | Commercial Mortgage Backed Securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 380,020 | |
Fair Value, Measurements, Recurring | Commercial Mortgage Backed Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Fair Value, Measurements, Recurring | US States and Political Subdivisions Debt Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 118,227 | |
Fair Value, Measurements, Recurring | US States and Political Subdivisions Debt Securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Fair Value, Measurements, Recurring | US States and Political Subdivisions Debt Securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 118,227 | |
Fair Value, Measurements, Recurring | US States and Political Subdivisions Debt Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Fair Value, Measurements, Recurring | Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in marketable equity securities (cost of $59,262 at December 31, 2019 and $73,809 at December 31, 2018) | 82,333 | 92,599 |
Fair Value, Measurements, Recurring | Equity Securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in marketable equity securities (cost of $59,262 at December 31, 2019 and $73,809 at December 31, 2018) | 29,458 | 17,887 |
Fair Value, Measurements, Recurring | Equity Securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in marketable equity securities (cost of $59,262 at December 31, 2019 and $73,809 at December 31, 2018) | 52,875 | 74,712 |
Fair Value, Measurements, Recurring | Equity Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment in marketable equity securities (cost of $59,262 at December 31, 2019 and $73,809 at December 31, 2018) | 0 | 0 |
Fair Value, Measurements, Recurring | Corporate Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 201,566 | |
Available-for-sale Securities | 143,226 | |
Fair Value, Measurements, Recurring | Corporate Bonds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 0 | |
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | Corporate Bonds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | 131,881 | |
Available-for-sale Securities | 0 | |
Fair Value, Measurements, Recurring | Corporate Bonds | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities available for sale | $ 69,685 | |
Available-for-sale Securities | $ 143,226 |
Estimated Fair Values (Assets_2
Estimated Fair Values (Assets and Liabilities Carried at Fair Value on a Recurring Basis Significant Unobservable Inputs) (Details) - Corporate bonds $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance at January 1, 2019 | $ 143,226 |
Purchases | 35,993 |
Unrealized net gains included in other comprehensive income | 3,891 |
Amounts included in net income | 174 |
Transfers out | (112,599) |
Sales / Calls | (1,000) |
Balance at December 31, 2019 | 69,685 |
Investment securities available for sale | $ 69,685 |
Estimated Fair Values (Fair Val
Estimated Fair Values (Fair Value Option) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value, Option, Changes in Fair Value, Gain (Loss) | $ 289 | $ 50 | $ 2,900 |
Disposal Group, Including Discontinued Operation, Loans Receivable, Net | 67,900 | 45,500 | |
Loans Held For Sale | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Fair Value Of Items For Which Fair Value Option Was Elected Assets | 67,869 | 45,505 | |
Aggregate Unpaid Principal Balance Of Items For Which Fair Value Option Was Elected Assets | 65,697 | 44,073 | |
Fair Value Option Aggregate Difference Assets | $ 2,172 | $ 1,432 |
Estimated Fair Values (Assets_3
Estimated Fair Values (Assets And Liabilities Carried At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Real Estate | $ 46,591 | $ 48,030 | $ 51,097 |
Fair Value, Measurements, Nonrecurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 132,336 | 105,994 | |
Other Real Estate | 38,310 | 35,344 | |
Mortgage servicing assets | 3,757 | ||
Fair Value, Measurements, Nonrecurring | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 0 | 0 | |
Other Real Estate | 0 | 0 | |
Mortgage servicing assets | 0 | ||
Fair Value, Measurements, Nonrecurring | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 0 | 0 | |
Other Real Estate | 0 | 0 | |
Mortgage servicing assets | 0 | ||
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans not covered by loss share agreements | 132,336 | 105,994 | |
Other Real Estate | 38,310 | $ 35,344 | |
Mortgage servicing assets | $ 3,757 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2007 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Expected Amortization of Gain (Loss), Next Fiscal Year | $ 25,100 | |||
Employer contributions | 3,592 | $ 50,000 | ||
Funded status | (14,334) | (10,441) | ||
Accumulated benefit obligation | $ 904,500 | 779,100 | ||
Percent of employer match (percent) | 100.00% | 4.50% | ||
Percentage of employee compensation matched | 6.00% | |||
Additional contribution if employed at end of year | 3.00% | |||
Defined contribution plan cost | $ 30,800 | 28,600 | $ 25,300 | |
Deferred compensation cash-based arrangements, liability, current and noncurrent | 57,000 | 46,400 | ||
BancShares Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | 71 | 50,000 | ||
Bancorporation Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Employer contributions | $ 3,500 | $ 0 | ||
401(k) Matching Range 1 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percent of employer match (percent) | 100.00% | |||
Percentage of employee compensation matched | 3.00% | |||
401(k) Matching Range 2 | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Percent of employer match (percent) | 50.00% | |||
Percentage of employee compensation matched | 3.00% |
Employee Benefit Plans (Funded
Employee Benefit Plans (Funded Status Of Plans) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at January 1 | $ 852,975 | $ 919,428 | |
Service cost | 12,767 | 16,154 | $ 15,186 |
Interest cost | 37,260 | 34,733 | 35,593 |
Actuarial (gain) loss | 118,964 | (87,752) | |
Benefits paid | (31,560) | (29,588) | |
Benefit obligation at December 31 | 990,406 | 852,975 | 919,428 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Fair value of plan assets, beginning balance | 842,534 | 881,590 | |
Actual return on plan assets | 161,506 | (59,468) | |
Employer contributions | 3,592 | 50,000 | |
Benefits paid | (31,560) | (29,588) | |
Fair value of plan assets, ending balance | 976,072 | 842,534 | $ 881,590 |
Funded status | (14,334) | (10,441) | |
BancShares Plan | |||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Employer contributions | $ 71 | $ 50,000 |
Employee Benefit Plans (Amounts
Employee Benefit Plans (Amounts Recognized in the Financial Statements) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Amount recognized in accumulated other comprehensive income | ||
Net loss (gain) | $ 172,098 | $ 162,973 |
Less prior service cost | 0 | 57 |
Accumulated other comprehensive loss, excluding income taxes | $ 172,098 | $ 163,030 |
Employee Benefit Plans (Net Ben
Employee Benefit Plans (Net Benefit Cost) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Retirement Benefits, Description [Abstract] | |||
Service cost | $ 12,767 | $ 16,154 | $ 15,186 |
Interest cost | 37,260 | 34,733 | 35,593 |
Expected return on assets | (62,590) | (60,296) | (53,244) |
Amortization of prior service cost | (57) | (79) | (210) |
Amortization of net actuarial loss | 10,924 | 13,902 | 9,510 |
Total pension expense | (1,582) | 4,572 | 7,255 |
Current year actuarial gain (loss) | (20,049) | (32,012) | (12,945) |
Total change from defined benefit plans, net of tax | 9,068 | 18,031 | 3,225 |
Total recognized in net periodic benefit cost and other comprehensive income | $ 7,486 | $ 22,603 | $ 10,480 |
Employee Benefit Plans (Assumpt
Employee Benefit Plans (Assumptions Used) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Assumptions used to determine the benefit obligations | |||
Discount rate | 3.46% | 4.38% | |
Rate of compensation increase | 5.60% | 5.60% | |
Assumptions used to determine net periodic benefit cost | |||
Discount rate | 4.38% | 3.76% | 4.30% |
Rate of compensation increase | 5.60% | 4.00% | 4.00% |
Expected long-term rate of return on plan assets (percent) | 7.50% | 7.50% | 7.50% |
Employee Benefit Plans (Fair Va
Employee Benefit Plans (Fair Value and Allocation Of Plan Assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 976,072 | $ 842,534 | $ 881,590 |
Actual % of Plan Assets | 100.00% | 100.00% | |
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 775,527 | $ 620,658 | |
Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 200,545 | 221,876 | |
Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Cash and equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 10,974 | $ 19,029 | |
Actual % of Plan Assets | 1.00% | 2.00% | |
Cash and equivalents | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 0.00% | ||
Cash and equivalents | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 5.00% | ||
Cash and equivalents | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 10,974 | $ 19,029 | |
Cash and equivalents | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Cash and equivalents | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 142,157 | $ 143,939 | |
Actual % of Plan Assets | 73.00% | 64.00% | |
Equity securities | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 30.00% | ||
Equity securities | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 70.00% | ||
Equity securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 142,157 | $ 143,939 | |
Equity securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Equity securities | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Equity mutual funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 565,343 | 395,328 | |
Equity mutual funds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 565,343 | 393,104 | |
Equity mutual funds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 2,224 | |
Equity mutual funds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 0 | $ 0 | |
Debt Securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Actual % of Plan Assets | 23.00% | 30.00% | |
Debt Securities | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 15.00% | ||
Debt Securities | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 45.00% | ||
US government and government agency securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 78,175 | $ 79,294 | |
US government and government agency securities | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
US government and government agency securities | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 78,175 | 79,294 | |
US government and government agency securities | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Corporate Bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 122,370 | 140,358 | |
Corporate Bonds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Corporate Bonds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 122,370 | 140,358 | |
Corporate Bonds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Fixed Income Mutual Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 25,288 | 29,561 | |
Fixed Income Mutual Funds | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 25,288 | 29,561 | |
Fixed Income Mutual Funds | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Fixed Income Mutual Funds | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Alternative investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 31,765 | $ 35,025 | |
Actual % of Plan Assets | 3.00% | 4.00% | |
Alternative investments | Minimum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 0.00% | ||
Alternative investments | Maximum | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target Allocation | 30.00% | ||
Alternative investments | Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 31,765 | $ 35,025 | |
Alternative investments | Quoted Prices for Similar Assets and Liabilities (Level 2 Inputs) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | 0 | 0 | |
Alternative investments | Fair Value, Inputs, Level 3 | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Plan assets | $ 0 | $ 0 |
Employee Benefit Plans (Project
Employee Benefit Plans (Projected Benefit Payments) (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Retirement Benefits, Description [Abstract] | |
2020 | $ 36,251 |
2021 | 38,980 |
2022 | 41,511 |
2023 | 43,891 |
2024 | 46,234 |
2025-2029 | $ 261,027 |
Employee Benefit Plans (Present
Employee Benefit Plans (Present Value of Accrued Liability) (Details) - USD ($) $ in Thousands | 12 Months Ended | |||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | May 01, 2019 | Apr. 02, 2019 | Oct. 02, 2018 | |
Present Value Of Accrued Liability [Roll Forward] | ||||||
Benefit expense and interest cost | $ (1,582) | $ 4,572 | $ 7,255 | |||
Interest cost | $ 37,260 | $ 34,733 | 35,593 | |||
Discount rate | 3.46% | 4.38% | ||||
Executives Directors And Officer Of Acquired Entities | ||||||
Present Value Of Accrued Liability [Roll Forward] | ||||||
Present value of accrued liability as of January 1 | $ 34,063 | $ 37,299 | ||||
Benefit expense and interest cost | 3,970 | 535 | ||||
Benefits paid | 4,681 | 4,579 | ||||
Present value of accrued liability as of December 31 | 45,295 | 34,063 | $ 37,299 | |||
Biscayne Bancshares | ||||||
Present Value Of Accrued Liability [Roll Forward] | ||||||
Liability assumed | 1,138 | 0 | $ 956,756 | |||
First South Bancorp | ||||||
Present Value Of Accrued Liability [Roll Forward] | ||||||
Liability assumed | 1,067 | 0 | $ 215,561 | |||
Entegra | ||||||
Present Value Of Accrued Liability [Roll Forward] | ||||||
Liability assumed | 9,738 | 0 | ||||
Capital Commerce Bancorp | ||||||
Present Value Of Accrued Liability [Roll Forward] | ||||||
Liability assumed | $ 0 | $ 808 | $ 204,500 |
Leases (Operating and Finance L
Leases (Operating and Finance Lease Assets and Liabilities) (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Leases [Abstract] | |
Asset, operating | $ 77,115 |
Asset, finance | 8,820 |
Total leased assets | 85,935 |
Present value of lease liabilities | 76,746 |
Present value of lease liabilities | 8,230 |
Total lease liabilities | $ 84,976 |
Leases (Net Lease Cost) (Detail
Leases (Net Lease Cost) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 16,094 |
Amortization of leased assets | 1,975 |
Interest on lease liabilities | 259 |
Variable lease cost | 2,394 |
Sublease income | (390) |
Net lease cost | $ 20,332 |
Leases (Lease Liability Maturit
Leases (Lease Liability Maturities) (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Operating Leases | |
2020 | $ 14,257 |
2021 | 12,688 |
2022 | 11,261 |
2023 | 9,340 |
2024 | 7,379 |
Thereafter | 36,653 |
Total lease payments | 91,578 |
Less: Interest | 14,832 |
Present value of lease liabilities | 76,746 |
Finance Leases | |
2020 | 2,142 |
2021 | 2,159 |
2022 | 1,876 |
2023 | 993 |
2024 | 617 |
Thereafter | 1,066 |
Total lease payments | 8,853 |
Less: Interest | 623 |
Present value of lease liabilities | 8,230 |
Total | |
2020 | 16,399 |
2021 | 14,847 |
2022 | 13,137 |
2023 | 10,333 |
2024 | 7,996 |
Thereafter | 37,719 |
Total lease payments | 100,431 |
Less: Interest | 15,455 |
Present value of lease liabilities | $ 84,976 |
Leases (Remaining Weighted Aver
Leases (Remaining Weighted Average Lease Terms and Discounts Rates) (Details) | Dec. 31, 2019 |
Leases [Abstract] | |
Weighted average remaining lease term, operating | 10 years 2 months 12 days |
Weighted average remaining lease term, finance | 4 years 8 months 12 days |
Weighted average discount rate, operating | 3.23% |
Weighted average discount rate, finance | 3.06% |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating cash flows from operating leases | $ 15,703 |
Operating cash flows from finance leases | 259 |
Financing cash flows from finance leases | 1,850 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 17,837 |
Right-of-use assets obtained in exchange for new finance lease liabilities | $ 1,886 |
Transactions with Related Per_3
Transactions with Related Persons (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Loans and Leases Receivable, Related Parties [Roll Forward] | ||
Beginning balance | $ 199 | $ 74 |
New loans | 5 | 134 |
Repayments | (59) | (9) |
Ending balance | 145 | 199 |
Unfunded loan commitments available to related parties | $ 2,600 | $ 4,300 |
Price of repurchased shares (usd per share) | $ 451.33 | $ 432.78 |
Class A Common Stock | ||
Loans and Leases Receivable, Related Parties [Roll Forward] | ||
Share repurchased from related party (in shares) | 998,910 | 382,000 |
Class A Common Stock | Related Party | ||
Loans and Leases Receivable, Related Parties [Roll Forward] | ||
Share repurchased from related party (in shares) | 100,000 | |
Price of repurchased shares (usd per share) | $ 464.90 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Guarantor Obligations [Line Items] | |||
Amortization Method Qualified Affordable Housing Project Investments | $ 167,800 | $ 147,300 | |
FDIC shared-loss payable | 112,395 | 105,618 | $ 101,342 |
Commitments to Extend Credit | |||
Guarantor Obligations [Line Items] | |||
Unused Commitments to Extend Credit | 10,682,378 | 10,054,712 | |
Amortization Method Qualified Affordable Housing Project Investments | 70,000 | 68,000 | |
Standby Letters of Credit | |||
Guarantor Obligations [Line Items] | |||
Affordable Housing Program Obligation | $ 99,601 | $ 96,467 |
Parent Company Financial Stat_3
Parent Company Financial Statements (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Assets | ||||
Overnight investments | $ 1,107,844 | $ 797,406 | ||
Investment in marketable equity securities | 82,333 | 92,599 | ||
Investment securities available for sale | 7,059,674 | 4,557,110 | ||
Other assets | 610,891 | 433,595 | ||
Total assets | 39,824,496 | 35,408,629 | ||
Liabilities and Shareholders' Equity | ||||
Short-term borrowings | 738,233 | 572,287 | ||
Long-term obligations | 588,638 | 319,867 | ||
Other liabilities | 367,810 | 249,443 | ||
Stockholders' equity | 3,586,184 | 3,488,954 | $ 3,334,064 | $ 3,012,427 |
Total liabilities and shareholders' equity | 39,824,496 | 35,408,629 | ||
Income Statement [Abstract] | ||||
Interest expense | 92,642 | 36,857 | 43,794 | |
Net interest income | 1,311,369 | 1,208,900 | 1,059,896 | |
Dividends from subsidiaries | 149,819 | |||
Income tax benefit | 134,677 | 103,297 | 219,946 | |
Net income | 457,371 | 400,313 | 323,752 | |
OPERATING ACTIVITIES | ||||
Net income | 457,371 | 400,313 | 323,752 | |
Net amortization of premiums and accretion of discounts | (34,040) | (36,567) | (40,028) | |
Marketable equity securities (gains) losses, net | (20,625) | 7,610 | 0 | |
Gain on elimination of acquired debt | 0 | (26,553) | (919) | |
Change in other assets | (28,097) | (3,961) | (31,933) | |
Change in other liabilities | (19,584) | (40,895) | (25,939) | |
Net cash provided by (Used in) Operating Activities | 540,569 | 457,336 | 355,258 | |
INVESTING ACTIVITIES | ||||
Net change in overnight investments | (65,181) | 601,979 | 586,279 | |
Purchases of marketable equity securities | (26,166) | (2,818) | 0 | |
Proceeds from sales of marketable equity securities | 56,749 | 9,528 | 0 | |
Net Cash Provided by (Used in) Investing Activities | (1,558,469) | 97,573 | (668,672) | |
FINANCING ACTIVITIES | ||||
Net change in short-term borrowings | (27,703) | (246,517) | (44,680) | |
Proceeds from Issuance of Long-term Debt | (200,000) | (125,000) | (175,000) | |
Repurchase of common stock | (453,123) | (163,095) | 0 | |
Cash dividends paid | (18,137) | (16,779) | (14,412) | |
Net cash used by financing activities | 1,067,179 | (563,619) | 109,823 | |
Net change in cash | 49,279 | (8,710) | (203,591) | |
Cash and due from banks at beginning of period | 327,440 | 336,150 | 539,741 | |
Cash and due from banks at end of period | 376,719 | 327,440 | 336,150 | |
Cash payments for | ||||
Income taxes | 83,038 | 73,806 | 88,565 | |
Parent | ||||
Assets | ||||
Cash | 4,573 | 7,188 | ||
Overnight investments | 2,547 | 385 | ||
Investment in marketable equity securities | 82,333 | 92,599 | ||
Investment securities available for sale | 3,015 | 6,456 | ||
Investment in Banking Subsidiaries | 3,763,947 | 3,314,292 | ||
Investment in Other Subsidiaries | 3,555 | 41,830 | ||
Due from subsidiaries | 0 | 814 | ||
Note to banking subsidiaries | 0 | 100,000 | ||
Other assets | 45,164 | 42,810 | ||
Total assets | 3,905,134 | 3,606,374 | ||
Liabilities and Shareholders' Equity | ||||
Short-term borrowings | 105,677 | 105,546 | ||
Long-term obligations | 201,702 | 0 | ||
Due to Affiliate | 1,670 | 299 | ||
Other liabilities | 9,901 | 11,575 | ||
Stockholders' equity | 3,586,184 | 3,488,954 | ||
Total liabilities and shareholders' equity | 3,905,134 | 3,606,374 | ||
Income Statement [Abstract] | ||||
Interest income | 1,327 | 1,362 | 921 | |
Interest expense | 7,187 | 5,154 | 4,814 | |
Net interest income | (5,860) | (3,792) | (3,893) | |
Dividends from subsidiaries | 242,910 | 50,400 | ||
Dividend Income, Banking Subsidiaries | 50,424 | |||
Marketable equity securities losses, net | 20,625 | (7,610) | 0 | |
Other income (loss) | 257 | 347 | 8,437 | |
Other operating expense | 9,497 | 11,127 | 6,881 | |
Income tax benefit | 892 | (5,184) | (5,395) | |
Income before income tax benefit and equity in undistributed net income of subsidiaries | 155,344 | 220,728 | 48,087 | |
Excess distributions (undistributed ) net income of subsidiaries | (302,919) | (174,401) | (270,270) | |
Net income | 457,371 | 400,313 | 323,752 | |
Income before equity in undistributed net income of subsidiaries | 154,452 | 225,912 | 53,482 | |
OPERATING ACTIVITIES | ||||
Net income | 457,371 | 400,313 | 323,752 | |
Excess distributions (undistributed ) net income of subsidiaries | (302,919) | (174,401) | (270,270) | |
Net amortization of premiums and accretion of discounts | 119 | 88 | 759 | |
Gain on elimination of acquired debt | 0 | (160) | (919) | |
Gain (Loss) on Disposition of Other Assets | 2,185 | 381 | 1,626 | |
Change in other assets | (2,001) | 3,657 | (10,509) | |
Securities (gains) losses | (20) | 0 | (8,003) | |
Change in other liabilities | 981 | (2,595) | 6,310 | |
Net cash provided by (Used in) Operating Activities | 130,721 | 234,131 | 39,494 | |
INVESTING ACTIVITIES | ||||
Net change in loans | 100,000 | (100,000) | 0 | |
Net change in overnight investments | 2,162 | 14,091 | 11,681 | |
Purchases of marketable equity securities | (26,166) | (2,818) | 0 | |
Proceeds from sales of marketable equity securities | 56,749 | 9,528 | 0 | |
Purchases of investment securities | 0 | (6,438) | (28,012) | |
Maturities and sales of investment securities | 3,477 | 9,997 | 32,463 | |
Net Cash Provided by (Used in) Investing Activities | 136,222 | (75,640) | 16,132 | |
FINANCING ACTIVITIES | ||||
Net change in short-term borrowings | 40,277 | (15,000) | 0 | |
Repayment of long-term obligations | (3,575) | (1,840) | (4,081) | |
Proceeds from Issuance of Long-term Debt | 165,000 | 0 | 0 | |
Repurchase of common stock | (453,123) | (163,095) | 0 | |
Cash dividends paid | (18,137) | (16,779) | (14,412) | |
Net cash used by financing activities | (269,558) | (196,714) | (18,493) | |
Net change in cash | (2,615) | (38,223) | 37,133 | |
Cash and due from banks at beginning of period | 7,188 | 45,411 | 8,278 | |
Cash and due from banks at end of period | 4,573 | 7,188 | 45,411 | |
Cash payments for | ||||
Interest | 7,187 | 5,154 | 4,814 | |
Income taxes | $ 78,345 | $ 73,806 | $ 88,565 |
Uncategorized Items - fcnca10k1
Label | Element | Value |
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 18,715,000 |
Accounting Standards Update 2016-01 [Member] | AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (18,715,000) |
Accounting Standards Update 2018-02 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 31,336,000 |
Accounting Standards Update 2018-02 [Member] | AOCI Attributable to Parent [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ (31,336,000) |