Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 07, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | Bryn Mawr Bank Corporation | ||
Entity Central Index Key | 802,681 | ||
Trading Symbol | bmtc | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 16,969,451 | ||
Entity Public Float | $ 483,647,309 | ||
Document Type | 10-K/A | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | true | ||
Amendment Description | Due to an error by our external financial printer, in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016 (“Original Form 10-K”), the line titled “Total comprehensive income” was inadvertently omitted from the Consolidated Statements of Comprehensive Income, which was located at page 58 of the Original Form 10-K. This Amendment No. 1 on Form 10-K/A (Amendment) to our Original Form 10-K, filed on March 10, 2017, is being filed in accordance with Rule 12b-15 under the Securities Exchange Act of 1934 for the sole purpose of including the correct Consolidated Statements of Comprehensive Income, including the related corrected version in XBRL Exhibit 101. This Amendment does not amend or otherwise update any other information in the Original Form 10-K and does not reflect events occurring after the date of the Original Form 10-K. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 16,559 | $ 18,452 |
Interest bearing deposits with banks | 34,206 | 124,615 |
Cash and cash equivalents | 50,765 | 143,067 |
Investment securities available for sale, at fair value (amortized cost of $568,890 and $347,776 as of December 31, 2016 and December 31, 2015 respectively) | 566,996 | 348,966 |
Investment securities held to maturity, at amortized cost (fair value of $2,818 and $0 as of December 31, 2016 and December 31, 2015, respectively) | 2,879 | 0 |
Investment securities, trading | 3,888 | 3,950 |
Loans held for sale | 9,621 | 8,987 |
Portfolio loans and leases, originated | 2,240,987 | 1,883,869 |
Portfolio loans and leases, acquired | 294,438 | 385,119 |
Total portfolio loans and leases | 2,535,425 | 2,268,988 |
Less: Allowance for originated loan and lease losses | (17,458) | (15,857) |
Less: Allowance for acquired loan and lease losses | (28) | |
Total allowance for loans and lease losses | (17,486) | (15,857) |
Net portfolio loans and leases | 2,517,939 | 2,253,131 |
Premises and equipment, net | 41,778 | 45,339 |
Accrued interest receivable | 8,533 | 7,869 |
Mortgage servicing rights | 5,582 | 5,142 |
Bank owned life insurance | 39,279 | 38,371 |
Federal Home Loan Bank stock | 17,305 | 12,942 |
Goodwill | 104,765 | 104,765 |
Intangible assets | 20,405 | 23,903 |
Other investments | 8,627 | 9,460 |
Other assets | 23,168 | 25,105 |
Total assets | 3,421,530 | 3,030,997 |
Deposits: | ||
Non-interest-bearing | 736,180 | 626,684 |
Interest-bearing | 1,843,495 | 1,626,041 |
Total deposits | 2,579,675 | 2,252,725 |
Short-term borrowings | 204,151 | 94,167 |
Long-term FHLB advances | 189,742 | 254,863 |
Subordinated notes | 29,532 | 29,479 |
Accrued interest payable | 2,734 | 1,851 |
Other liabilities | 34,569 | 32,201 |
Total liabilities | 3,040,403 | 2,665,286 |
Shareholders' equity | ||
Common stock, par value $1; authorized 100,000,000 shares; issued 21,110,968 and 20,931,416 shares as of December 31, 2016 and December 31, 2015, respectively, and outstanding of 16,939,715 and 17,071,523 as of December 31, 2016 and December 31, 2015, respectively | 21,111 | 20,931 |
Paid-in capital in excess of par value | 232,806 | 228,814 |
Less: Common stock in treasury at cost - 4,171,253 and 3,859,893 shares as of December 31, 2016 and December 31, 2015, respectively | (66,950) | (58,144) |
Accumulated other comprehensive loss, net of tax | (2,409) | (412) |
Retained earnings | 196,569 | 174,522 |
Total shareholders' equity | 381,127 | 365,711 |
Total liabilities and shareholders' equity | $ 3,421,530 | $ 3,030,997 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Investment securities available for sale, amortized cost | $ 568,890 | $ 347,776 |
Investment securities held to maturity, fair value | $ 2,818 | $ 0 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 21,110,968 | 20,931,416 |
Common stock, shares outstanding (in shares) | 16,939,715 | 17,071,523 |
Treasury stock, shares (in shares) | 4,171,253 | 3,859,893 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Interest income: | ||||
Interest and fees on loans and leases | $ 110,536 | $ 102,432 | $ 78,541 | |
Interest on cash and cash equivalents | 168 | 409 | 193 | |
Interest on investment securities: | ||||
Taxable | 5,575 | 5,018 | 3,596 | |
Non-taxable | 497 | 497 | 399 | |
Dividends | 215 | 186 | 177 | |
Total interest income | 116,991 | 108,542 | 82,906 | |
Interest expense: | ||||
Interest on deposits | 5,833 | 4,212 | 2,898 | |
Interest on short-term borrowings | 93 | 48 | 17 | |
Interest on FHLB advances and other borrowings | 3,353 | 3,554 | 3,163 | |
Interest on subordinated notes | 1,476 | 601 | ||
Total interest expense | 10,755 | 8,415 | 6,078 | |
Net interest income | 106,236 | 100,127 | 76,828 | |
Provision for loan and lease losses | 4,326 | 4,396 | 884 | |
Net interest income after provision for loan and lease losses | 101,910 | 95,731 | 75,944 | |
Non-interest income: | ||||
Fees for wealth management services | 36,690 | 36,894 | 36,774 | |
Insurance commissions | 3,722 | 3,745 | 1,099 | |
Service charges on deposits | 2,791 | 2,927 | 2,578 | |
Loan servicing and other fees | 1,939 | 2,087 | 1,755 | |
Net gain on sale of loans | 3,119 | 3,022 | 1,772 | |
Net (loss) gain on sale of investment securities available for sale | (77) | 931 | 471 | |
Net (loss) gain on sale of other real estate owned ("OREO") | (76) | 123 | 175 | |
Dividends on FHLB and FRB stock | 1,063 | 1,382 | 615 | |
Other operating income | 4,868 | 4,849 | 3,083 | |
Total non-interest income | 54,039 | 55,960 | 48,322 | |
Non-interest expenses: | ||||
Salaries and wages | 47,411 | 44,575 | 37,113 | |
Employee benefits | 9,548 | 10,205 | 7,340 | |
Net loss on settlement of pension plan | 17,377 | |||
Occupancy and bank premises | 9,611 | 10,305 | 7,305 | |
Branch lease termination expense | 929 | |||
Furniture, fixtures, and equipment | 7,520 | 6,841 | 4,508 | |
Advertising | 1,381 | 2,102 | 1,504 | |
Amortization of intangible assets | 3,498 | 4,214 | 2,659 | |
Impairment of intangible assets | 387 | |||
Due diligence, merger-related and merger integration expenses | 6,670 | 2,373 | ||
Professional fees | 3,659 | 3,353 | 3,017 | |
Pennsylvania bank shares tax | 1,749 | 1,253 | 1,256 | |
Information technology | 3,661 | 3,443 | 2,771 | |
Other operating expenses | 13,707 | 14,498 | 11,572 | |
Total non-interest expenses | 101,745 | 125,765 | 81,418 | |
Income before income taxes | 54,204 | 25,926 | 42,848 | |
Income taxes | 18,168 | 9,172 | 15,005 | |
Net income | $ 36,036 | $ 16,754 | $ 27,843 | |
Basic earnings per common share* (in dollars per share) | $ 2.14 | $ 0.96 | $ 2.05 | |
Diluted earnings per common share* (in dollars per share) | 2.12 | 0.94 | 2.01 | |
Dividends declared per share (in dollars per share) | $ 0.82 | $ 0.78 | $ 0.74 | |
Weighted-average basic shares outstanding (in shares) | [1] | 16,859,623 | 17,488,325 | 13,566,239 |
Dilutive shares (in shares) | 168,499 | 267,996 | 294,801 | |
Adjusted weighted-average diluted shares (in shares) | 17,028,122 | 17,756,321 | 13,861,040 | |
[1] | excludes restricted stock |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net Income | $ 36,036 | $ 16,754 | $ 27,843 |
Net change in unrealized (losses) gains on investment securities available for sale: | |||
Net unrealized (losses) gains arising during the period, net of tax (benefit) expense of $(1,053), $(618) and $1,335, respectively | (1,955) | (1,147) | 1,867 |
Less: reclassification adjustment for net losses (gains) on sales realized in net income, net of tax benefit (expense) of $27, $(326), and $(165), respectively | 50 | (605) | (306) |
Unrealized investment (losses) gains, net of tax (benefit) expense of $(1,079), $(292) and $1,170, respectively | (2,005) | (542) | 2,173 |
Net change in fair value of derivative used for cash flow hedge: | |||
Net unrealized losses arising during the period, net of tax benefit of $0, $(228) and $(413), respectively | 422 | 768 | |
Less: realized loss on cash flow hedge reclassified to earnings, net of tax benefit of $0, $214, and $0, respectively | (397) | ||
Change in fair value of hedging instruments, net of tax expense (benefit) of $0, $14 and $(413), respectively | 25 | (768) | |
Net change in unfunded pension liability: | |||
Change in unfunded pension liability related to unrealized loss, prior service cost and transition obligation, net of tax expense (benefit) of $5, $264 and $(4,063), respectively | 8 | 514 | (7,544) |
Change in unfunded pension liability related to settlement of pension plan, net of tax expense of $0, $6,082 and $0 | 11,295 | ||
Total change in unfunded pension liability, net of tax expense (benefit) of $5, $6,346 and $(4,063), respectively | 8 | 11,809 | (7,544) |
Total other comprehensive income (loss) | (1,997) | 11,292 | (6,139) |
Total comprehensive income | $ 34,039 | $ 28,046 | $ 21,704 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net unrealized gains arising during the period, tax expense. | $ (1,053) | $ (618) | $ 1,335 |
Reclassification adjustment for net (gains) losses on sales realized in net income, tax (expense) benefit | 27 | (326) | (165) |
Unrealized investment gains (losses), tax expense (benefit) | (1,080) | (292) | 1,170 |
Net unrealized (losses) gains arising during the period, tax (benefit) expense | 0 | (228) | (413) |
Realized loss on cash flow hedge reclassified to earnings, tax benefit | 0 | 214 | 0 |
Change in fair value of hedging instruments, tax (benefit) expense | 0 | 14 | (413) |
Change in unfunded pension liability related to unrealized loss, prior service cost and transition obligation, tax expense (benefit) | 5 | 264 | (4,063) |
Change in unfunded pension liability related to settlement of pension plan, tax expense | 0 | 6,082 | 0 |
Change in unfunded pension liability, tax (benefit) expense | $ 5 | $ 6,346 | $ (4,063) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating activities: | |||
Net Income | $ 36,036 | $ 16,754 | $ 27,843 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan and lease losses | 4,326 | 4,396 | 884 |
Depreciation of fixed assets | 5,630 | 4,925 | 3,486 |
Net amortization of investment premiums and discounts | 3,200 | 3,280 | 2,299 |
Net loss on settlement of pension plan | 17,377 | ||
Net loss (gain) on sale of investment securities available for sale | 77 | (931) | (471) |
Net gain on sale of loans | (3,119) | (3,022) | (1,772) |
Stock based compensation cost | 1,713 | 1,441 | 1,256 |
Amortization and net impairment of mortgage servicing rights | 880 | 661 | 532 |
Net accretion of fair value adjustments | (3,776) | (4,942) | (2,757) |
Amortization of intangible assets | 3,498 | 4,214 | 2,659 |
Impairment of intangible assets | 387 | ||
Impairment of other real estate owned ("OREO") | 94 | 89 | |
Net loss (gain) on sale of OREO | 76 | (123) | (175) |
Net increase in cash surrender value of bank owned life insurance ("BOLI") | (908) | (782) | (315) |
Other, net | (899) | 1,049 | 2,822 |
Loans originated for resale | (161,597) | (141,578) | (58,173) |
Proceeds from loans sold | 162,762 | 138,964 | 56,866 |
Provision for deferred income taxes | 1,676 | (2,834) | 2,350 |
Excess tax benefit from stock-based compensation | (783) | (831) | |
Change in income taxes payable/receivable | 4,340 | (529) | 808 |
Change in accrued interest receivable | (664) | (215) | 168 |
Change in accrued interest payable | 883 | 516 | 199 |
Net cash provided by operating activities | 54,228 | 37,928 | 37,678 |
Investing activities: | |||
Purchases of investment securities available for sale | (350,669) | (176,034) | (45,199) |
Purchases of investment securities held to maturity | (2,928) | ||
Proceeds from maturity and paydowns of investment securities available for sale | 65,176 | 66,209 | 40,801 |
Proceeds from maturity and paydowns of investment securities held to maturity | 34 | ||
Proceeds from sale of investment securities available for sale | 276 | 64,851 | 24,394 |
Net change in FHLB stock | (4,363) | 3,562 | 131 |
Proceeds from calls of investment securities | 60,840 | 104,240 | 37,750 |
Proceeds from sales of other investments | 664 | 342 | |
Net change in other investments | 264 | (4,184) | (789) |
Net portfolio loan and lease originations | (266,331) | (194,066) | (105,918) |
Purchases of premises and equipment | (2,207) | (7,611) | (5,455) |
Purchases of BOLI | (5,000) | ||
Acquisitions, net of cash acquired | 16,129 | (4,125) | |
Proceeds from sale of OREO | 1,806 | 1,215 | 1,646 |
Net cash used in investing activities | (497,438) | (130,689) | (56,422) |
Financing activities: | |||
Change in deposits | 327,169 | 83,784 | 96,704 |
Change in short-term borrowings | 109,995 | (38,128) | 12,933 |
Dividends paid | (13,961) | (13,837) | (10,189) |
Change in long-term FHLB advances and other borrowings | (65,000) | (24,883) | 54,623 |
Payment of contingent consideration for business combinations | (627) | (542) | |
Net proceeds from issuance of subordinated notes | 29,456 | ||
Excess tax benefit from stock-based compensation | 783 | 831 | |
Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation | (745) | ||
Net (purchase of) proceeds from sale of treasury stock for deferred compensation plans | (133) | (128) | 79 |
Net purchase of treasury stock through publicly announced plans | (7,971) | (26,418) | (947) |
Proceeds from issuance of common stock | 20 | 72 | |
Proceeds from exercise of stock options | 2,181 | 6,452 | 2,836 |
Net cash provided by financing activities | 350,908 | 16,559 | 156,942 |
Change in cash and cash equivalents | (92,302) | (76,202) | 138,198 |
Cash and cash equivalents at beginning of period | 143,067 | 219,269 | 81,071 |
Cash and cash equivalents at end of period | 50,765 | 143,067 | 219,269 |
Supplemental cash flow information: | |||
Income taxes | 12,261 | 11,703 | 11,831 |
Interest | 9,872 | 7,604 | 5,879 |
Non-cash information: | |||
Change in other comprehensive loss | (1,997) | 11,292 | (9,446) |
Change in deferred tax due to change in comprehensive income | (1,074) | 6,068 | (3,306) |
Transfer of loans to other real estate owned and repossessed assets | 546 | 2,283 | 1,763 |
Issuance of shares and options for acquisitions | 123,734 | ||
Acquisition of noncash assets and liabilities: | |||
Assets acquired | 727,908 | 10,005 | |
Liabilities assumed | $ 620,303 | $ 5,880 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2013 | 16,596,869 | |||||
Balance at Dec. 31, 2013 | $ 16,597 | $ 95,673 | $ (30,764) | $ (5,565) | $ 153,957 | $ 229,898 |
Net Income | 27,843 | 27,843 | ||||
Dividends declared | (10,208) | (10,208) | ||||
Net change | (6,139) | (6,139) | ||||
Stock based compensation | 1,256 | 1,256 | ||||
Tax benefit from stock-based compensation | 831 | 831 | ||||
Retirement of treasury stock (in shares) | (3,512) | |||||
Retirement of treasury stock | $ (3) | (32) | 35 | |||
Net purchase of treasury stock from stock award and deferred compensation plans | 45 | (913) | (868) | |||
Issuance costs - S-4 filing | (147) | (147) | ||||
Dividend Reinvestment and Stock Purchase Plan (in shares) | 2,517 | |||||
Dividend Reinvestment and Stock Purchase Plan | $ 2 | 70 | $ 72 | |||
Share-based awards and options exercises (in shares) | 146,261 | 141,370 | ||||
Share-based awards and options exercises | $ 146 | 2,790 | $ 2,936 | |||
Balance (in shares) at Dec. 31, 2014 | 16,742,135 | |||||
Balance at Dec. 31, 2014 | $ 16,742 | 100,486 | (31,642) | (11,704) | 171,592 | 245,474 |
Excess tax benefit from stock-based compensation | 831 | 831 | ||||
Other comprehensive income (loss), net of tax | (6,139) | (6,139) | ||||
Net Income | 16,754 | 16,754 | ||||
Dividends declared | (13,824) | (13,824) | ||||
Net change | 11,292 | 11,292 | ||||
Stock based compensation | 1,441 | 1,441 | ||||
Tax benefit from stock-based compensation | 783 | 783 | ||||
Retirement of treasury stock (in shares) | (4,418) | |||||
Retirement of treasury stock | $ (4) | (40) | 44 | |||
Dividend Reinvestment and Stock Purchase Plan (in shares) | 663 | |||||
Dividend Reinvestment and Stock Purchase Plan | $ 1 | 19 | $ 20 | |||
Share-based awards and options exercises (in shares) | 342,107 | 335,189 | ||||
Share-based awards and options exercises | $ 341 | 6,242 | $ 6,583 | |||
Balance (in shares) at Dec. 31, 2015 | 20,931,416 | 20,931,416 | ||||
Balance at Dec. 31, 2015 | $ 20,931 | 228,814 | (58,144) | (412) | 174,522 | $ 365,711 |
Excess tax benefit from stock-based compensation | 783 | 783 | ||||
Cancellation of forfeited restricted stock awards (in shares) | (27,375) | |||||
Cancellation of forfeited restricted stock awards | $ (27) | 27 | ||||
Net purchase of treasury stock | (26,546) | (26,546) | ||||
Shares issued in acquisitions (in shares) | 3,878,304 | |||||
Shares issued in acquisitions | $ 3,878 | 117,513 | 121,391 | |||
Options assumed in acquisitions | 2,343 | 2,343 | ||||
Other comprehensive income (loss), net of tax | 11,292 | 11,292 | ||||
Net Income | 36,036 | 36,036 | ||||
Dividends declared | (13,989) | (13,989) | ||||
Net change | (1,997) | (1,997) | ||||
Stock based compensation | 1,713 | 1,713 | ||||
Retirement of treasury stock (in shares) | (4,320) | |||||
Retirement of treasury stock | $ (4) | (39) | 43 | |||
Net purchase of treasury stock from stock award and deferred compensation plans | (878) | $ (878) | ||||
Share-based awards and options exercises (in shares) | 183,872 | 105,830 | ||||
Share-based awards and options exercises | $ 184 | 2,121 | $ 2,305 | |||
Balance (in shares) at Dec. 31, 2016 | 21,110,968 | 21,110,968 | ||||
Balance at Dec. 31, 2016 | $ 21,111 | 232,806 | (66,950) | (2,409) | 196,569 | $ 381,127 |
Tax provision-to-return adjustment related to excess tax benefit on stock-based compensation | 197 | 197 | ||||
Other comprehensive income (loss), net of tax | (1,997) | (1,997) | ||||
Net purchase of treasury stock through publicly announced plans | $ (7,971) | $ (7,971) |
Consolidated Statements of Cha9
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Retained Earnings [Member] | |||
Dividends declared per share (in dollars per share) | $ 0.78 | $ 0.74 | |
AOCI Attributable to Parent [Member] | |||
Other comprehensive income (loss), tax | $ (1,075) | $ 6,080 | $ (3,307) |
Dividends declared per share (in dollars per share) | $ 0.82 | $ 0.78 | $ 0.74 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Note 1 Summary of Significant Accounting Policies A. Nature of Business The Bryn Mawr Trust Company (the “Bank”) received its Pennsylvania banking charter in 1889 1986, January 2, 1987, 25 eight one five On January 30, 2017, $127.7 $602 $630 December 31, 2016 eighth third 2017. On April 1, 2015, $1.0 $500 $85 first $100 second 2016 four $100 March 31, 2017, March 31, 2018, March 31, 2019, March 31, 2020, On January 1, 2015, $125.1 3,878,383 $2.3 $1.3 $424.7 $181.8 $481.7 ten On October 1, 2014, $7.0 $5.4 first two three $542 fourth 2015 2016. $542 one $542 The Corporation operates in a highly competitive market area that includes local, national and regional banks as competitors along with savings banks, credit unions, insurance companies, trust companies, registered investment advisors and mutual fund families. The Corporation and its subsidiaries are regulated by many regulatory agencies including the Securities and Exchange Commission (“SEC”), Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve and the Pennsylvania Department of Banking. B. Basis of Presentation The accounting policies of the Corporation conform to U.S. generally accepted accounting principles (“GAAP”). The Consolidated Financial Statements include the accounts of the Corporation and its wholly owned subsidiaries. The Corporation’s consolidated financial condition and results of operations consist almost entirely of the Bank’s financial condition and results of operations. All inter-company transactions and balances have been eliminated. In preparing the Consolidated Financial Statements, the Corporation is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the dates of the balance sheets, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Although our current estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that in 2017, C. Cash and Cash Equivalents Cash and cash equivalents include cash, interest-bearing and non-interest bearing amounts due from banks, and federal funds sold. Cash balances required to meet regulatory reserve requirements of the Federal Reserve Board amounted to $10.4 $11.7 December 31, 2016 December 31, 2015, D. Investment Securities Investment securities which are held for indefinite periods of time, which the Corporation intends to use as part of its asset/liability strategy, or which may The Corporation follows ASC 370 10 65 1 not 2016, 2015 2014. Investments for which the Corporation has the intent and ability to hold until maturity are classified as held-to-maturity and are carried at their amortized cost on the balance sheet. No adjustment for market value fluctuations are recorded related to the held to maturity portfolio. Investment securities held in trading accounts consist solely of deferred compensation trust accounts which are invested in listed mutual funds whose diversification is at the discretion of the deferred compensation plan participants. Investment securities held in trading accounts are reported at fair value, with adjustments in fair value reported through income. E. Loans Held for Sale Mortgage loans originated and intended for sale in the secondary F. Portfolio Loans and Leases The Corporation originates construction, commercial and industrial, commercial mortgage, residential mortgage, home equity and consumer loans to customers primarily in southeastern Pennsylvania as well as small-ticket equipment leases to customers nationwide. Although the Corporation has a diversified loan and lease portfolio, its debtors’ ability to honor their contracts is substantially dependent upon the real estate and general economic conditions of the region. Loans and leases that the Corporation has the intention and ability to hold for the foreseeable future or until maturity or pay-off, generally are reported at their outstanding principal balance adjusted for charge-offs, the allowance for loan and lease losses and any deferred fees or costs on originated loans and leases. Interest income is accrued on the unpaid principal balance. Loan and lease origination fees and loan and lease origination costs are deferred and recognized as an adjustment to the related yield using the interest method. The accrual of interest on loans and leases is generally discontinued at the time the loan is 90 120 six Certain loans which have reached maturity and have been approved for extension or renewal, but for which all required documents have not been fully executed as of the reporting date, are classified as Administratively Delinquent and are not considered to be delinquent. These loans are reported as current in all disclosures. Loans acquired in mergers are recorded at their fair values. The difference between the recorded fair value and the principal value is accreted to interest income over the contractual lives of the loans in accordance with ASC 310 20. 310 30, H G. Allowance for Loan and Lease Losses The allowance for loan and lease losses (the “Allowance”) is established through a provision for loan and lease losses (the “Provision”) charged as an expense. The principal balances of loans and leases are charged against the Allowance when the Corporation believes that the principal is uncollectible. The Allowance is maintained at a level that the Corporation believes is sufficient to absorb estimated potential credit losses. The Corporation’s determination of the adequacy of the Allowance is based on guidance provided in ASC 450 310 December 31, 2016, five December 31, 2016, two one As part of the process of calculating the Allowance for the different segments of the loan and lease portfolio, the Corporation considers certain credit quality indicators. For the commercial mortgage, construction and commercial and industrial loan segments, periodic reviews of the individual loans are performed by both in-house staff as well as external third The evaluation process also considers the impact of competition, current and expected economic conditions, national and international events, the regulatory and legislative environment and inherent risks in the loan and lease portfolio. All of these factors may may may H. Impaired Loans and Leases A loan or lease is considered impaired when, based on current information, it is probable that the Corporation will be unable to collect the contractually scheduled payments of principal or interest. When assessing impairment, the Corporation considers various factors, which include payment status, realizable value of collateral and the probability of collecting scheduled principal and interest payments when due. Loans and leases that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. For loans that indicate possible signs of impairment, which in most cases is based on the performance/non-performance status of the loan, an impairment analysis is conducted based on guidance provided by ASC 310 10. In addition to originating loans, the Corporation occasionally acquires loans through mergers or loan purchase transactions. Some of these acquired loans may may 310 30. I. Troubled Debt Restructurings (“TDR”s) A TDR occurs when a creditor, for economic or legal reasons related to a borrower’s financial difficulties, modifies the original terms of a loan or lease or grants a concession to the borrower that it would not otherwise have granted. A concession may may J. Other Real Estate Owned (“OREO”) OREO consists of assets that the Corporation has acquired through foreclosure, by accepting a deed in lieu of foreclosure, or by taking possession of assets that were used as loan collateral. The Corporation reports OREO on the balance sheet as part of other assets, at the lower of cost or fair value less cost to sell, adjusted periodically based on current appraisals. Costs relating to the development or improvement of assets, as well as the costs required to obtain legal title to the property, are capitalized, while costs related to holding the property are charged to expense as incurred. K. Other Investments and E quity S tocks W ithout a R eadily D eterminable F air V alue Other investments include Community Reinvestment Act (“CRA”) investments and equity stocks without a readily determinable fair value. The Corporation’s investments in equity stocks include those issued by the Federal Home Loan Bank of Pittsburgh (“FHLB”), the Federal Reserve Bank (“FRB”) and Atlantic Central Bankers Bank. The Corporation is required to hold FHLB stock as a condition of its borrowing funds from the FHLB. As of December 31, 2016, $17.3 December 31, 2016, $6.9 10 L. Premises and Equipment Premises and equipment are stated at cost, less accumulated depreciation. Depreciation and predetermined rent are recorded using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the expected lease term or the estimated useful lives, whichever is shorter. M. Pension and Postretirement Benefit Plan As of December 31, 2016, two 16 December 31, 2015, December 31, 2015. N. Bank Owned Life Insurance (“BOLI”) BOLI is recorded at its cash surrender value. Income from BOLI is tax-exempt and included as a component of non-interest income. O. Derivative Financial Instruments The Corporation recognizes all derivative financial instruments on its balance sheet at fair value. Derivatives that are not hedges must be adjusted to fair value through income. If a derivative has qualified as a hedge, depending on the nature of the hedge, changes in the fair value of the derivative are either offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is recognized in earnings immediately. To determine fair value, the Corporation uses valuations obtained from a third third The Corporation may December 2012, $15 $15 November 30, 2015, P. Accounting for Stock-Based Compensation Stock-based compensation cost is measured at the grant date, based on the fair value of the award and is recognized as an expense over the vesting period. All share-based payments, including grants of stock options, restricted stock awards and performance-based stock awards, are recognized as compensation expense in the statement of income at their fair value. The fair value of stock option grants is determined using the Black-Scholes pricing model which considers the expected life of the options, the volatility of stock price, risk-free interest rate and annual dividend yield. The fair value of the restricted stock awards and performance-based awards whose performance is measured based on an internally produced metric is based on their closing price on the grant date, while the fair value of the performance-based stock awards which use an external measure, such as total stockholder return, is based on their grant-date fair value adjusted for the likelihood of attaining certain pre-determined performance goals and is calculated by utilizing a Monte Carlo Simulation model. Q. Earnings p er Common Share Basic earnings per common share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per common share takes into account the potential dilution that would occur if in-the-money stock options were exercised and converted into common shares and restricted stock awards and performance-based stock awards were vested. Proceeds assumed to have been received on options exercises are assumed to be used to purchase shares of the Corporation’s common stock at the average market price during the period, as required by the treasury stock method of accounting. The effects of stock options are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive. R. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Corporation recognizes the benefit of a tax position only after determining that the Corporation would more-likely-than-not sustain the position following an examination. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 S. Revenue Recognition With the exception of nonaccrual loans and leases, the Corporation recognizes all sources of income on the accrual method. Additional information relating to wealth management fee revenue recognition follows: The Corporation earns wealth management fee revenue from a variety of sources including fees from trust administration and other related fiduciary services, custody, investment management and advisory services, employee benefit account and IRA administration, estate settlement, tax service fees, shareholder service fees and brokerage. These fees are generally based on asset values and fluctuate with the market. Some revenue is not directly tied to asset value but is based on a flat fee for services provided. For many of our revenue sources, amounts are not received in the same accounting period in which they are earned. However, each source of wealth management fees is recorded on the accrual method of accounting. The most significant portion of the Corporation’s wealth management fees is derived from trust administration and other related services, custody, investment management and advisory services, and employee benefit account and IRA administration. These fees are generally billed monthly, in arrears, based on the market value of assets at the end of the previous billing period. A smaller number of customers are billed in a similar manner, but on a quarterly or annual basis and some revenues are not based on market values. The balance of the Corporation’s wealth management fees includes estate settlement fees and tax service fees, which are recorded when the related service is performed and asset management and brokerage fees on non-depository investment products, which are received one Included in other assets on the balance sheet is a receivable for wealth management fees that have been earned but not yet collected. Insurance revenue is primarily related to commissions earned on insurance policies and is recognized over the related policy coverage period. T. Mortgage Servicing A portion of the residential mortgage loans originated by the Corporation is sold to third An intangible asset, referred to as mortgage servicing rights (“MSR”s) is recognized when a loan’s servicing rights are retained upon sale of a loan. These MSRs amortize to non-interest expense in proportion to, and over the period of, the estimated future net servicing life of the underlying loans. MSRs are evaluated quarterly for impairment based upon the fair value of the rights as compared to their amortized cost. Impairment is determined by stratifying the MSRs by predominant characteristics, such as interest rate and terms. Fair value is determined based upon discounted cash flows using market-based assumptions. Impairment is recognized on the income statement to the extent the fair value is less than the capitalized amount for the stratum. A valuation allowance is utilized to record temporary impairment in MSRs. Temporary impairment is defined as impairment that is not deemed permanent. Permanent impairment is recorded as a reduction of the MSR and is not reversed. U. Statement of Cash Flows The Corporation’s statement of cash flows details operating, investing and financing activities during the reported periods. V. Goodwill and Intangible Assets The Corporation accounts for goodwill and other intangible assets in accordance with ASC 350, December 31, 2016, 1 October 31, October 31, 2016, December 31. 2016, December 31st October 31st. three December 31, 2016, may The Corporation’s impairment testing methodology is consistent with the methodology prescribed in ASC 350. W. Reclassifications Certain prior year amounts have been reclassified to conform to the current year’s presentation. X. Recent Accounting Pronouncements The following recent accounting pronouncements are divided into pronouncements which have been adopted by the Corporation and those which are not yet effective and have been evaluated or are currently being evaluated by the Corporation as of December 31, 2016. Adopted Pronouncements: FASB ASU 2014 15 , “ Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern ” Issued on August 15, 2014, 2014 15 first December 15, 2016, December 31, 2016, 2014 15 FASB ASU 2016 09 718), In March 2016, 2016 09, (1) (2) (3) December 15, 2016. 2016 09 three September 30, 2016. $565 twelve December 31, 2016. 2016 09 2016 09, Pronouncements Not Yet Effective : FASB ASU No. 2014 0 9 (Topic 606), “ Revenue from Contracts with Customers ” Issued in May 2014, 2014 09 five August 2015, 2015 14, 606): 2014 09 one March 2016, 2016 08, 2016 20, 606, 2016 12, 606. December 15, 2017, December 15, 2016. FASB ASU 2017 04 350), Issued in January 2017, 2017 04 2 2 2017 04 December 15, 2019 2017 04 FASB ASU 2017 01 805), Issued in January 2017, 2017 01 2017 01 December 15, 2017 2017 01 FASB ASU 2016 1 5 (Topic 32 0 ), “ Classification of Certain Cash Receipts and Cash Payments ” Issued in August 2016, 2016 15 eight zero 2016 15 December 15, 2017, FASB ASU 2016 13 326), Issued in June 2016, 2016 13 2016 13 December 15, 2018, 2016 02 FASB ASU 2016 02 842), Issued in February 2016, 2016 02 2016 02 first December 15, 2018, 2016 02 FASB ASU 2016 01 825 10), Issued in January 2016, 2016 01 may 2016 01 December 15, 2017, may 2016 02 |
Note 2 - Business Combinations
Note 2 - Business Combinations | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 2 - Business Combinations Robert J. McAllister Agency, Inc. The acquisition of RJM, an insurance brokerage headquartered in Rosemont, Pennsylvania, was completed on April 1, 2015. $1.0 $500 $85 first $100 second 2016 four $100 March 31, 2017, March 31, 2018, March 31, 2019, March 31, 2020, $15 first $100 $85 In connection with the RJM acquisition, the following table details the consideration paid, the initial estimated fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition and subsequent adjustments, during the measurement period, to the fair value of the assets acquired, liabilities assumed and the resulting goodwill recorded : (dollars in thousands) Original Estimates Adjustments to Estimates Final Valuation Consideration paid: Cash paid at closing $ 500 $ — $ 500 Contingent payment liability 500 — 500 Value of consideration 1,000 — 1,000 Assets acquired: Cash operating accounts 20 — 20 Intangible assets – trade name 129 (129 ) — Intangible assets – customer relationships 424 — 424 Intangible assets – non-competition agreements 257 — 257 Other assets 4 — 4 Total assets 834 (129 ) 705 Liabilities assumed: Deferred tax liability 336 (45 ) 291 Other liabilities 46 — 46 Total liabilities 382 (45 ) 337 Net assets acquired 452 (84 ) 368 Goodwill resulting from acquisition of RJM $ 548 $ 84 $ 632 An adjustment was made which eliminated the value initially placed on the trade name (and its associated deferred tax liability), as the entity was immediately merged into PCPB. As of December 31, 2015, Continental Bank Holdings, Inc. On January 1, 2015, May 5, 2014 October 23, 2014, 3,878,383 0.45 0.45. $1.3 In connection with the CBH Merger, the following table details the consideration paid, the initial estimated fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition and the subsequent adjustments, during the measurement period, to the fair value of the assets acquired, liabilities assumed and the resulting goodwill recorded : (dollars in thousands) Original Estimates Adjustments to Estimates Final Valuation Consideration paid: Common shares issued (3,878,304) $ 121,391 $ — $ 121,391 Cash in lieu of fractional shares 2 — 2 Cash-out of certain warrants 1,323 — 1,323 Fair value of options assumed 2,343 — 2,343 Value of consideration 125,059 — 125,059 Assets acquired: Cash and due from banks 17,934 — 17,934 Investment securities available for sale 181,838 — 181,838 Loans* 426,601 (1,864 ) 424,737 Premises and equipment 9,037 — 9,037 Deferred income taxes 6,288 1,396 7,684 Bank-owned life insurance 12,054 — 12,054 Core deposit intangible 4,191 — 4,191 Favorable lease asset 792 (68 ) 724 Other assets 18,085 (111 ) 17,974 Total assets 676,820 (647 ) 676,173 Liabilities assumed: Deposits 481,674 — 481,674 FHLB and other long-term borrowings 19,726 — 19,726 Short-term borrowings 108,609 — 108,609 Unfavorable lease liability 2,884 — 2,884 Other liabilities 4,706 1,867 6,573 Total liabilities 617,599 1,867 619,466 Net assets acquired 59,221 (2,514 ) 56,707 Goodwill resulting from the CBH Merger $ 65,838 $ 2,514 $ 68,352 *includes $507 loans held for sale For the twelve December 31, 2015, As of December 31, 2015, Powers Craft Parker and Beard, Inc. The acquisition of PCPB, an insurance brokerage headquartered in Rosemont, Pennsylvania, was completed on October 1, 2014. $7.0 $5.4 first three $542 fourth 2015. $1.1 two $542 two twelve September 30, 2016 2017. In connection with the PCPB acquisition, the consideration paid and the fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition are summarized in the following table: (dollars in thousands) Consideration paid: Cash paid at closing $ 5,399 Contingent payment disbursed 542 Contingent payment liability 1,083 Value of consideration 7,024 Assets acquired: Cash operating accounts 1,274 Other investments 302 Premises and equipment 100 Intangible assets – customer relationships 3,280 Intangible assets – non-competition agreements 1,580 Intangible assets – trade name 955 Other assets 850 Total assets 8,341 Liabilities assumed: Deferred tax liability 2,437 Other liabilities 1,818 Total liabilities 4,255 Net assets acquired 4,086 Goodwill resulting from acquisition of PCPB $ 2,938 As of December 31, 2014, Pro Forma Income Statements (unaudited) The following pro forma income statements for the twelve December 31, 2014, 2015 2016 January 1, 2014, January 1, 2015 January 1, 2016, twelve December 31, 2014. three Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Net interest income $ 106,236 $ 100,127 $ 100,609 Provision for loan and lease losses 4,326 4,396 2,041 Net interest income after provision for loan and lease losses 101,910 95,731 98,568 Non-interest income 54,039 55,960 51,836 Non-interest expense 101,745 125,765 100,011 Income before income taxes 54,204 25,926 50,393 Income tax expense 18,168 9,172 17,673 Net income $ 36,036 $ 16,754 $ 32,720 Per share data*: Weighted-average basic shares outstanding 16,859,623 17,488,325 17,444,543 Dilutive shares 168,499 267,996 373,384 Adjusted weighted-average diluted shares 17,028,122 17,756,321 17,817,927 Basic earnings per common share $ 2.14 $ 0.96 $ 1.88 Diluted earnings per common share $ 2.12 $ 0.94 $ 1.84 * Assumes that the shares of CBH common stock outstanding as of December 31, 2014 the full twelve month periods ended December 31 , 201 3 2014, and therefore equal the weighted average shares of common stock outstanding for the twelve months periods ended December 31 , 2013 2014. 8,618,629 shares of CBH common stock equals 3,878,304 shares of Corporation common stock (8,618,629 0.45 , minus 79 Due Diligence, Merger-Related and Merger Integration Expenses Due diligence, merger-related and merger integration expenses include consultant costs, investment banker fees, contract breakage fees, retention bonuses for severed employees, salary and wages for redundant staffing involved in the integration of the institutions and bonus accruals for members of the merger integration team. The following table details the costs identified and classified as due diligence, merger-related and merger integration costs for the periods indicated: Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Advertising $ — $ 162 $ 10 Employee benefits — 258 23 Furniture, fixtures and equipment — 159 9 Information technology — 1,168 44 Professional fees — 2,471 1,340 Salaries and wages — 1,868 346 Other — 584 601 Total due diligence and merger-related expenses $ — $ 6,670 $ 2,373 |
Note 3 - Goodwill and Other Int
Note 3 - Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 3 Goodwill & Other Intangible Assets The Corporation completed an annual impairment test for goodwill and other intangibles as of December 31, 2015 October 31, 2016. 2016, December 31st October 31st. October 31, no no 2015 2016. The Corporation’s goodwill and intangible assets related to the acquisitions of Lau Associates in July 2008, July 2010, May 2011, May 2012, November 2012, October 2014, January 2015 April 2015 December 31, 2016 2015 (dollars in thousands) Beginning Balance 12/31/1 5 Additions/ Adjustments Amortization Ending Balance 12/31/1 6 Initial Amortization Goodwill – Wealth reporting unit $ 20,412 $ — $ — $ 20,412 Indefinite Goodwill – Banking reporting unit 80,783 — — 80,783 Indefinite Goodwill – Insurance reporting unit 3,570 — — 3,570 Indefinite Total $ 104,765 $ — $ — $ 104,765 Core deposit intangible $ 4,272 $ — (825 ) $ 3,447 10 years Customer relationships 14,384 — (1,328 ) 13,056 10 to 20 years Non-compete agreements 2,932 — (1,298 ) 1,634 5 to 10 years Trade name 2,165 — — 2,165 Indefinite Favorable lease asset 150 — (47 ) 103 17 to 75 months Total $ 23,903 $ — (3,498 ) $ 20,405 Grand total $ 128,668 $ — (3,498 ) $ 125,170 (dollars in thousands) Beginning Balance 12/31/1 4 Additions/ Adjustments Amortization / Impairment Ending Balance 12/31/1 5 Amortization Goodwill – Wealth reporting unit $ 20,412 $ — $ — $ 20,412 Indefinite Goodwill – Banking reporting unit 12,431 68,352 — 80,783 Indefinite Goodwill – Insurance reporting unit 2,938 632 — 3,570 Indefinite Total $ 35,781 $ 68,984 $ — $ 104,765 Core deposit intangible $ 1,066 $ 4,191 $ (985 ) $ 4,272 10 years Customer relationships 15,562 424 (1,602 ) 14,384 10 to 20 years Non-compete agreements 3,728 257 (1,053 ) 2,932 5 to 10 years Trade name 2,165 — — 2,165 Indefinite Favorable lease asset — 724 (574 ) 150 17 to 75 months Total $ 22,521 $ 5,596 $ (4,214 ) $ 23,903 Grand total $ 58,302 $ 74,580 $ (4,214 ) $ 128,668 |
Note 4 - Investment Securities
Note 4 - Investment Securities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 4 - Investment Securities The amortized cost and fair value of investments, which were classified as available for sale As of December 31, 2016 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 200,094 $ 3 $ — $ 200,097 Obligations of the U.S. government and agencies 83,111 167 (1,080 ) 82,198 Obligations of state and political subdivisions 33,625 26 (121 ) 33,530 Mortgage-backed securities 185,997 1,260 (1,306 ) 185,951 Collateralized mortgage obligations 49,488 108 (902 ) 48,694 Other investments 16,575 105 (154 ) 16,526 Total $ 568,890 $ 1,669 $ (3,563 ) $ 566,996 As of December 31, 2015 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 101 $ — $ (1 ) $ 100 Obligations of the U.S. government and agencies 101,342 470 (317 ) 101,495 Obligations of state and political subdivisions 41,892 123 (49 ) 41,966 Mortgage-backed securities 157,422 1,482 (215 ) 158,689 Collateralized mortgage obligations 29,756 166 (123 ) 29,799 Other investments 17,263 38 (384 ) 16,917 Total $ 347,776 $ 2,279 $ (1,089 ) $ 348,966 The following table shows the amount of available for sale December 31, 2016: Less than 12 12 Months Total (dollars in thousands) Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses Obligations of the U.S. government and agencies $ 62,211 $ (1,080 ) $ — $ — $ 62,211 $ (1,080 ) Obligations of state and political subdivisions 24,482 (121 ) — — 24,482 (121 ) Mortgage-backed securities 101,433 (1,306 ) — — 101,433 (1,306 ) Collateralized mortgage obligations 35,959 (902 ) — — 35,959 (902 ) Other investments 2,203 (93 ) 11,895 (61 ) 14,098 (154 ) Total $ 226,288 $ (3,502 ) $ 11,895 $ (61 ) $ 238,183 $ (3,563 ) The following table shows the amount of available for sale December 31, 2015: Less than 12 12 Months Total (dollars in thousands) Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses U.S. Treasury securities $ 100 $ (1 ) $ — $ — $ 100 $ (1 ) Obligations of the U.S. government and agencies 49,759 (317 ) — — 49,759 (317 ) Obligations of state and political subdivisions 18,725 (46 ) 2,016 (3 ) 20,741 (49 ) Mortgage-backed securities 55,763 (215 ) — — 55,763 (215 ) Collateralized mortgage obligations 6,407 (85 ) 2,436 (38 ) 8,843 (123 ) Other investments 3,945 (238 ) 11,810 (146 ) 15,755 (384 ) Total $ 134,699 $ (902 ) $ 16,262 $ (187 ) $ 150,961 $ (1,089 ) Management evaluates the Corporation’s investment securities that are in an unrealized loss position in order to determine if the decline in fair value is other than temporary. The investment portfolio includes debt securities issued by U.S. government agencies, U.S. government-sponsored agencies, state and local municipalities and other issuers. All fixed income investment securities in the Corporation’s investment portfolio are rated as investment-grade or higher. Factors considered in the evaluation include the current economic climate, the length of time and the extent to which the fair value has been below cost, interest rates and the bond rating of each security. The unrealized losses presented in the tables above are temporary in nature and are primarily related to market interest rates rather than the underlying credit quality of the issuers or collateral. Management does not believe that these unrealized losses are other-than-temporary. The Corporation does not have the intent to sell these securities prior to their maturity or the recovery of their cost bases and believes that it is more likely, than not, that it will not have to sell these securities prior to their maturity or the recovery of their cost bases. At December 31, 2016, $119.4 The amortized cost and fair value of available for sale December 31, 2016 2015, may December 31, 201 6 (dollars in thousands) Amortized Cost Fair Value Investment securities*: Due in one year or less $ 213,876 $ 213,885 Due after one year through five years 40,335 40,270 Due after five years through ten years 45,840 44,914 Due after ten years 18,079 18,055 Subtotal 318,130 317,124 Mortgage-related securities 235,485 234,644 Total $ 553,615 $ 551,768 *Included in the investment portfolio, but not in the table above, are mutual funds with a n amortized cost and fair value, as of December 31, 2016 , of $15.3 $1 5.2 million, respectively, which have no stated maturity. December 31, 2015 (dollars in thousands) Amortized Cost Fair Value Investment securities*: Due in one year or less $ 9,570 $ 9,574 Due after one year through five years 61,368 61,467 Due after five years through ten years 53,193 53,070 Due after ten years 20,904 21,141 Subtotal 145,035 145,252 Mortgage-related securities 187,178 188,488 Total $ 332,213 $ 333,740 * Included in the investment portfolio, but not in the table above, are mutual funds with a n amortized cost and fair value, as of December 31, 2015 , of $15.6 $1 5.2 million, respectively, which have no stated maturity. Proceeds from the sale of available for sale $276 $64.9 $24.4 twelve December 31, 2016, 2015 2014, twelve December 31, 2016 $77 twelve December 31, 2015 2014 $931 $471 The amortized cost and fair value of investment securities held to maturity December 31, 2016 As of Dec ember 3 1 , 2016 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mortgage-backed securities $ 2,879 $ — $ (61 ) $ 2,818 Total $ 2,879 $ — $ (61 ) $ 2,818 The following table shows the amount of held to maturity December 31, 2015: Less than 12 12 Months Total (dollars in thousands) Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses Mortgage-backed securities $ 2,818 $ (61 ) $ — $ — $ 2,818 $ (61 ) Total $ 2,818 $ (61 ) $ — $ — $ 2,818 $ (61 ) The amortized cost and fair value of held to maturity December 31, 2016, Dec ember 3 1 , 2016 (dollars in thousands) Amortized Cost Fair Value Mortgage-related securities 1 2,879 2,818 Total $ 2,879 $ 2,818 1 Expected maturities of mortgage-related securities may may As of December 31, 2015, no held to maturity As of December 31, 2016 December 31, 2015, trading $3.9 $4.0 consist solely of deferred compensation trust accounts which are invested in listed mutual funds whose diversification is at the discretion of the deferred compensation plan participants. Investment securities held in trading accounts are reported at fair value, with adjustments in fair value reported through income. |
Note 5 - Loans and Leases
Note 5 - Loans and Leases | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5 Loans and Leases The loan and lease portfolio consists of loans and leases originated by the Corporation, as well as loans acquired in mergers and acquisitions. These mergers and acquisitions include the January 2015 November 2012 July 2010 originated acquired A. The table below details all portfolio loans and leases as of the dates indicated: December 31 , 201 6 December 31, 2015 Loans held for sale $ 9,621 $ 8,987 Real estate loans: Commercial mortgage $ 1,110,898 $ 964,259 Home equity lines and loans 207,999 209,473 Residential mortgage 413,540 406,404 Construction 141,964 90,421 Total real estate loans 1,874,401 1,670,557 Commercial and industrial 579,791 524,515 Consumer 25,341 22,129 Leases 55,892 51,787 Total portfolio loans and leases 2,535,425 2,268,988 Total loans and leases $ 2,545,046 $ 2,277,975 Loans with fixed rates $ 1,130,172 $ 1,103,622 Loans with adjustable or floating rates 1,414,874 1,174,353 Total loans and leases $ 2,545,046 $ 2,277,975 Net deferred loan origination fees included in the above loan table $ (735 ) $ (70 ) originated December 31 , 201 6 December 31, 2015 Loans held for sale $ 9,621 $ 8,987 Real estate loans: Commercial mortgage $ 946,879 $ 772,571 Home equity lines and loans 178,450 171,189 Residential mortgage 342,268 316,487 Construction 141,964 87,155 Total real estate loans 1,609,561 1,347,402 Commercial and industrial 550,334 462,746 Consumer 25,200 21,934 Leases 55,892 51,787 Total portfolio loans and leases 2,240,987 1,883,869 Total loans and leases $ 2,250,608 $ 1,892,856 Loans with fixed rates $ 992,917 $ 932,575 Loans with adjustable or floating rates 1,257,691 960,281 Total originated loans and leases $ 2,250,608 $ 1,892,856 Net deferred loan origination fees included in the above loan table (735 ) (70 ) acquired December 31 , 201 6 December 31, 201 5 Real estate loans: Commercial mortgage $ 164,019 $ 191,688 Home equity lines and loans 29,549 38,284 Residential mortgage 71,272 89,917 Construction — 3,266 Total real estate loans 264,840 323,155 Commercial and industrial 29,457 61,769 Consumer 141 195 Total portfolio loans and leases 294,438 385,119 Total loans and leases $ 294,438 $ 385,119 Loans with fixed rates $ 137,255 $ 171,047 Loans with adjustable or floating rates 157,183 214,072 Total acquired loans and leases $ 294,438 $ 385,119 B. Components of the net investment in leases are detailed as follows: (dollars in thousands) December 31 , 201 6 December 31, 201 5 Minimum lease payments receivable $ 62,379 $ 58,422 Unearned lease income (8,608 ) (8,919 ) Initial direct costs and deferred fees 2,121 2,284 Total $ 55,892 $ 51,787 C. Non-Performing Loans and Leases (1) The following table details all (dollars in thousands) December 31, 2016 December 31, 201 5 Non-accrual loans and leases Commercial mortgage $ 320 $ 829 Home equity lines and loans 2,289 2,027 Residential mortgage 2,658 3,212 Construction — 34 Commercial and industrial 2,957 4,133 Consumer 2 — Leases 137 9 Total $ 8,363 $ 10,244 (1) Purchased credit-impaired loans, which have been recorded at their fair values at acquisition, and which are performing, are excluded from this table, with the exception of $ 344 thousand and $ 661 thousand of purchased credit-impaired loans as of December 31 , 201 6 and December 31, 201 5 , respectively, which became non-performing subsequent to acquisition. The following table details non-performing originated (dollars in thousands) December 31 , 201 6 December 31, 201 5 Non-accrual originated loans and leases Commercial mortgage $ 265 $ 279 Home equity lines and loans 2,169 1,788 Residential mortgage 1,654 1,964 Construction — 34 Commercial and industrial 941 3,044 Consumer 2 — Leases 137 9 Total $ 5,168 $ 7,118 The following table details non-performing acquired (1) (dollars in thousands) December 31 , 201 6 December 31, 201 5 Non-accrual acquired loans and leases Commercial mortgage $ 55 $ 550 Home equity lines and loans 120 239 Residential mortgage 1,004 1,248 Commercial and industrial 2,016 1,089 Total $ 3,195 $ 3,126 (1) Purchased credit-impaired loans, which have been recorded at their fair values at acquisition, and which are performing, are excluded from this table, with the exception of $ 34 4 thousand and $ 661 thousand of purchased credit-impaired loans as of December 31 , 201 6 and December 31, 201 5 , respectively, which became non-performing subsequent to acquisition. D. Purchased Credit-Impaired Loans The outstanding principal balance and related carrying amount of credit-impaired loans, for which the Corporation applies ASC 310 30, Accounting for Purchased Loans with Deteriorated Credit Quality (dollars in thousands) December 31 , 201 6 December 31, 201 5 Outstanding principal balance $ 18,091 $ 24,879 Carrying amount (1) $ 12,432 $ 16,846 (1) Includes $ 368 and $ 699 thousand of purchased credit-impaired loans as of December 31 , 201 6 and December 31, 201 5 , respectively, for which the Corporation could not estimate the timing or amount of expected cash flows to be collected at acquisition, and for which no accretable yield is recognized. Additionally, the table above includes $ 344 thousand and $ 661 thousand of purchased credit-impaired loans as of December 31 , 201 6 and December 31, 201 5 , respectively, which became non-performing subsequent to acquisition, which are disclosed in Note 5C, The following table presents changes in the accretable discount on purchased credit-impaired loans, for which the Corporation applies ASC 310 30, twelve December 31, 2016: (dollars in thousands) Accretable Balance, December 31, 2015 $ 6,115 Accretion (1,858 ) Reclassifications from nonaccretable difference 182 Additions/adjustments 68 Disposals (1,274 ) Balance, December 31, 2016 $ 3,233 E. Age Analysis of Past Due Loans and Leases The following tables present an aging of all Accruing Loans and Leases (dollars in thousands) As of December 31, 2016 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 666 $ 722 $ — $ 1,388 $ 1,109,190 $ 1,110,578 $ 320 $ 1,110,898 Home equity lines and loans 11 — — 11 205,699 205,710 2,289 207,999 Residential mortgage 823 490 — 1,313 409,569 410,882 2,658 413,540 Construction — — — — 141,964 141,964 — 141,964 Commercial and industrial 36 — — 36 576,798 576,834 2,957 579,791 Consumer 10 5 — 15 25,324 25,339 2 25,341 Leases 177 86 — 263 55,492 55,755 137 55,892 $ 1,723 $ 1,303 $ — $ 3,026 $ 2,524,036 $ 2,527,062 $ 8,363 $ 2,535,425 Accruing Loans and Leases (dollars in thousands) As of December 31, 2015 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 1,126 $ 211 $ — $ 1,337 $ 962,093 $ 963,430 $ 829 $ 964,259 Home equity lines and loans 1,596 15 — 1,611 205,835 207,446 2,027 209,473 Residential mortgage 1,923 74 — 1,997 401,195 403,192 3,212 406,404 Construction — — — — 90,387 90,387 34 90,421 Commercial and industrial 99 39 — 138 520,244 520,382 4,133 524,515 Consumer 20 — — 20 22,109 22,129 — 22,129 Leases 375 123 — 498 51,280 51,778 9 51,787 $ 5,139 $ 462 $ — $ 5,601 $ 2,253,143 $ 2,258,744 $ 10,244 $ 2,268,988 *included as “current” are $15.3 $10.5 December 31, 2016 2015, one not The following tables present an aging of originated Accruing Loans and Leases (dollars in thousands) As of December 31, 2016 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ — $ 722 $ — $ 722 $ 945,892 $ 946,614 $ 265 $ 946,879 Home equity lines and loans 11 — — 11 176,270 176,281 2,169 178,450 Residential mortgage 773 64 — 837 339,778 340,615 1,653 342,268 Construction — — — — 141,964 141,964 — 141,964 Commercial and industrial — — — — 549,393 549,393 941 550,334 Consumer 10 5 — 15 25,183 25,198 2 25,200 Leases 177 86 — 263 55,492 55,755 137 55,892 $ 971 $ 877 $ — $ 1,848 $ 2,233,972 $ 2,235,820 $ 5,167 $ 2,240,987 Accruing Loans and Leases (dollars in thousands) As of December 31, 2015 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 1,016 $ 155 $ — $ 1,171 $ 771,121 $ 772,292 $ 279 $ 772,571 Home equity lines and loans 1,445 — — 1,445 167,956 169,401 1,788 171,189 Residential mortgage 1,475 9 — 1,484 313,039 314,523 1,964 316,487 Construction — — — — 87,121 87,121 34 87,155 Commercial and industrial — — — — 459,702 459,702 3,044 462,746 Consumer 20 — — 20 21,914 21,934 — 21,934 Leases 375 123 — 498 51,280 51,778 9 51,787 $ 4,331 $ 287 $ — $ 4,618 $ 1,872,133 $ 1,876,751 $ 7,118 $ 1,883,869 *included as “current” are $13.5 $10.1 December 31, 2016 2015, one The following tables present an aging of acquire d Accruing Loans and Leases (dollars in thousands) As of December 31, 2016 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 666 $ — $ — $ 666 $ 163,298 $ 163,964 $ 55 $ 164,019 Home equity lines and loans — — — — 29,429 29,429 120 29,549 Residential mortgage 50 426 — 476 69,791 70,267 1,005 71,272 Construction — — — — — — — — Commercial and industrial 36 — — 36 27,405 27,441 2,016 29,457 Consumer — — — — 141 141 — 141 $ 752 $ 426 $ — $ 1,178 $ 290,064 $ 291,242 $ 3,196 $ 294,438 Accruing Loans and Leases (dollars in thousands) As of December 31, 201 5 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 110 $ 56 $ — $ 166 $ 190,972 $ 191,138 $ 550 $ 191,688 Home equity lines and loans 151 15 — 166 37,879 38,045 239 38,284 Residential mortgage 448 65 — 513 88,156 88,669 1,248 89,917 Construction — — — — 3,266 3,266 — 3,266 Commercial and industrial 99 39 — 138 60,542 60,680 1,089 61,769 Consumer — — — — 195 195 — 195 $ 808 $ 175 $ — $ 983 $ 381,010 $ 381,993 $ 3,126 $ 385,119 *included as “current” are $1.8 $418 December 31, 2016 2015, one F. Allowance for Loan and Lease Losses (the “Allowance”) The following tables detail the roll-forward of the Allowance for the twelve December 31, 2016: (dollars in thousands) Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Balance, December 31, 2015 $ 5,199 $ 1,307 $ 1,740 $ 1,324 $ 5,609 $ 142 $ 518 $ 18 $ 15,857 Charge-offs (110 ) (592 ) (306 ) — (1,298 ) (173 ) (808 ) — (3,287 ) Recoveries 62 68 48 64 93 23 232 — 590 Provision for loan and lease losses 1,076 472 435 845 738 161 617 (18 ) 4,326 Balance, December 31, 2016 $ 6,227 1,255 1,917 2,233 5,142 153 559 — 17,486 The following table details the roll-forward of the Allowance for the twelve December 31, 2015: (dollars in thousands) Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Balance, December 31, 2014 $ 3,948 $ 1,917 $ 1,736 $ 1,367 $ 4,533 $ 238 $ 468 $ 379 $ 14,586 Charge-offs (50 ) (774 ) (791 ) — (1,220 ) (177 ) (442 ) — (3,454 ) Recoveries 27 98 35 4 35 29 101 — 329 Provision for loan and lease losses 1,274 66 760 (47 ) 2,261 52 391 (361 ) 4,396 Balance December 31, 2015 $ 5,199 $ 1,307 $ 1,740 $ 1,324 $ 5,609 $ 142 $ 518 $ 18 $ 15,857 The following table details the allocation of the Allowance for all December 31, 2016 December 31, 2015: (dollars in thousands) As of December 31, 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 73 $ — $ 5 $ 8 $ — $ — $ 86 Collectively evaluated for impairment 6,227 1,255 1,844 2,233 5,137 145 559 — 17,400 Purchased credit-impaired (1) — — — — — — — — — Total $ 6,227 $ 1,255 $ 1,917 $ 2,233 $ 5,142 $ 153 $ 559 $ — $ 17,486 As of December 31, 201 5 Allowance on loans and leases: Individually evaluated for impairment $ — $ 115 $ 54 $ — $ 519 $ 5 $ — $ — $ 693 Collectively evaluated for impairment 5,199 1,192 1,686 1,324 5,090 137 518 18 15,164 Purchased credit-impaired (1) — — — — — — — — — Total $ 5,199 $ 1,307 $ 1,740 $ 1,324 $ 5,609 $ 142 $ 518 $ 18 $ 15,857 (1) Purchased credit-impaired loans are evaluated for impairment on an individual basis. The following table details the carrying value for all December 31, 2016 December 31, 2015: (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 1,576 $ 2,354 $ 7,266 $ — $ 2,946 $ 31 $ — $ 14,173 Collectively evaluated for impairment 1,098,788 205,540 406,271 141,964 575,055 25,310 55,892 2,508,820 Purchased credit-impaired (1) 10,534 105 3 — 1,790 — — 12,432 Total $ 1,110,898 $ 207,999 $ 413,540 $ 141,964 $ 579,791 $ 25,341 $ 55,892 $ 2,535,425 As of December 31, 201 5 Carrying value of loans and leases: Individually evaluated for impairment $ 349 $ 1,980 $ 7,754 $ 33 $ 4,240 $ 30 $ — $ 14,386 Collectively evaluated for impairment 952,448 207,378 398,635 89,625 515,784 22,099 51,787 2,237,756 Purchased credit-impaired (1) 11,462 115 15 763 4,491 — — 16,846 Total $ 964,259 $ 209,473 $ 406,404 $ 90,421 $ 524,515 $ 22,129 $ 51,787 $ 2,268,988 (1) Purchased credit-impaired loans are evaluated for impairment on an individual basis. The following table details the allocation of the Allowance for originated December 31, 2016 December 31, 2015: (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 45 $ — $ 5 $ 8 $ — $ — $ 58 Collectively evaluated for impairment 6,227 1,255 1,844 2,233 5,137 145 559 — 17,400 Total $ 6,227 $ 1,255 $ 1,889 $ 2,233 $ 5,142 $ 153 $ 559 $ — $ 17,458 As of December 31, 201 5 Allowance on loans and leases: Individually evaluated for impairment $ — $ 115 $ 54 $ — $ 519 $ 5 $ — $ — $ 693 Collectively evaluated for impairment 5,199 1,192 1,686 1,324 5,090 137 518 18 15,164 Total $ 5,199 $ 1,307 $ 1,740 $ 1,324 $ 5,609 $ 142 $ 518 $ 18 $ 15,857 The following table details the carrying value for originated December 31, 2016 December 31, 2015: (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 1,521 $ 2,319 $ 4,111 $ — $ 1,190 $ 31 $ — $ 9,172 Collectively evaluated for impairment 945,358 176,131 338,157 141,964 549,144 25,169 55,892 2,231,815 Total $ 946,879 $ 178,450 $ 342,268 $ 141,964 $ 550,334 $ 25,200 $ 55,892 $ 2,240,987 As of December 31, 201 5 Carrying value of loans and leases: Individually evaluated for impairment $ 279 $ 1,832 $ 4,394 $ 33 $ 3,229 $ 30 $ — $ 9,797 Collectively evaluated for impairment 772,292 169,357 312,093 87,122 459,517 21,904 51,787 1,874,072 Total $ 772,571 $ 171,189 $ 316,487 $ 87,155 $ 462,746 $ 21,934 $ 51,787 $ 1,883,869 The following table details the allocation of the Allowance for acquired December 31, 2016 December 31, 2015: (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 28 $ — $ — $ — $ — $ — $ 28 Collectively evaluated for impairment — — — — — — — — — Purchased credit-impaired (1) — — — — — — — — — Total $ — $ — $ 28 $ — $ — $ — $ — $ — $ 28 As of December 31, 201 5 Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment — — — — — — — — — Purchased credit-impaired (1) — — — — — — — — — Total $ — $ — $ — $ — $ — $ — $ — $ — $ — (1) Purchased credit-impaired loans are evaluated for impairment on an individual basis. The following table details the carrying value for acquired December 31, 2016 December 31, 2015: (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 55 35 3,155 — 1,756 — — 5,001 Collectively evaluated for impairment 153,430 29,409 68,114 — 25,911 141 — 277,005 Purchased credit-impaired (1) 10,534 105 3 — 1,790 — — 12,432 Total $ 164,019 29,549 71,272 — 29,457 141 — 294,438 As of December 31, 201 5 Carrying value of loans and leases: Individually evaluated for impairment $ 70 $ 148 $ 3,360 $ — $ 1,011 $ — $ — $ 4,589 Collectively evaluated for impairment 180,156 38,021 86,542 2,503 56,267 195 — 363,684 Purchased credit-impaired (1) 11,462 115 15 763 4,491 — — 16,846 Total $ 191,688 $ 38,284 $ 89,917 $ 3,266 $ 61,769 $ 195 $ — $ 385,119 (1) Purchased credit-impaired loans are evaluated for impairment on an individual basis. As part of the process of determining the Allowance for the different segments of the loan and lease portfolio, Management considers certain credit quality indicators. For the commercial mortgage, construction and commercial and industrial loan segments, periodic reviews of the individual loans are performed by both in-house staff as well as external loan reviewers. The result of these reviews is reflected in the risk grade assigned to each loan. These internally assigned grades are as follows: • Pass – Loans considered satisfactory with no indications of deterioration. • Special mention - Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may • Substandard - Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. • Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. In addition, for the remaining segments of the loan and lease portfolio, which include residential mortgage, home equity lines and loans, consumer, and leases, the credit quality indicator used to determine this component of the Allowance is based on performance status. The following tables detail the carrying value of all December 31, 2016 December 31, 2015: Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Commercial Mortgage Construction Commercial and Industrial Total December 31 , 201 6 December 31, 201 5 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Pass $ 1,099,557 $ 946,887 $ 140,370 $ 88,653 $ 570,342 $ 510,040 $ 1,810,269 $ 1,545,580 Special Mention 1,892 7,029 — — 2,315 1,123 4,207 8,152 Substandard 9,449 10,343 1,594 1,768 5,512 13,352 16,555 25,463 Doubtful — — — — 1,622 — 1,622 — Total $ 1,110,898 $ 964,259 $ 141,964 $ 90,421 $ 579,791 $ 524,515 $ 1,832,653 $ 1,579,195 Credit Risk Profile by Payment Activity (dollars in thousands) Residential Mortgage Home Equity Lines and Loans Consumer Leases Total December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Performing $ 410,882 $ 403,192 $ 205,710 $ 207,446 $ 25,339 $ 22,129 $ 55,755 $ 51,778 $ 697,686 $ 684,545 Non-performing 2,658 3,212 2,289 2,027 2 — 137 9 5,086 5,248 Total $ 413,540 $ 406,404 $ 207,999 $ 209,473 $ 25,341 $ 22,129 $ 55,892 $ 51,787 $ 702,772 $ 689,793 The following tables detail the carrying value of originated December 31, 2016 December 31, 2015: Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Commercial Mortgage Construction Commercial and Industrial Total December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Pass $ 936,737 $ 758,240 $ 140,370 $ 86,065 $ 544,876 $ 454,454 $ 1,621,983 $ 1,298,759 Special Mention 1,892 7,029 — — 2,279 1,015 4,171 8,044 Substandard 8,250 7,302 1,594 1,090 3,054 7,277 12,898 15,669 Doubtful — — — — 125 — 125 — Total $ 946,879 $ 772,571 $ 141,964 $ 87,155 $ 550,334 $ 462,746 $ 1,639,177 $ 1,322,472 Credit Risk Profile by Payment Activity (dollars in thousands) Residential Mortgage Home Equity Lines and Loans Consumer Leases Total December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Performing $ 340,615 $ 314,523 $ 176,281 $ 169,401 $ 25,198 $ 21,934 $ 55,755 $ 51,778 $ 597,849 $ 557,636 Non-performing 1,653 1,964 2,169 1,788 2 — 137 9 3,961 3,761 Total $ 342,268 $ 316,487 $ 178,450 $ 171,189 $ 25,200 $ 21,934 $ 55,892 $ 51,787 $ 601,810 $ 561,397 The following tables detail the carrying value of acquired December 31, 2016 December 31, 2015: Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Commercial Mortgage Construction Commercial and Industrial Total December 31 , 201 6 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Pass $ 162,820 $ 188,647 $ — $ 2,588 $ 25,466 $ 55,586 $ 188,286 $ 246,821 Special Mention — — — — 36 108 36 108 Substandard 1,199 3,041 — 678 2,458 6,075 3,657 9,794 Doubtful — — — — 1,497 — 1,497 — Total $ 164,019 $ 191,688 $ — $ 3,266 $ 29,457 $ 61,769 $ 193,476 $ 256,723 Credit Risk Profile by Payment Activity (dollars in thousands) Residential Mortgage Home Equity Lines and Loans Consumer Total December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Performing $ 70,267 $ 88,669 $ 29,429 $ 38,045 $ 141 $ 195 99,837 $ 126,909 Non-performing 1,005 1,248 120 239 — — 1,125 1,487 Total $ 71,272 $ 89,917 $ 29,549 $ 38,284 $ 141 $ 195 100,962 $ 128,396 G. Troubl ed Debt Restructurings (“TDRs”) The restructuring of a loan is considered a “troubled debt restructuring” if both of the following conditions are met: (i) the borrower is experiencing financial difficulties, and (ii) the creditor has granted a concession. The most common concessions granted include one The determination of whether a borrower is experiencing financial difficulties takes into account not only the current financial condition of the borrower, but also the potential financial condition of the borrower, were a concession not granted. Similarly, the determination of whether a concession has been granted is very subjective in nature. For example, simply extending the term of a loan at its original interest rate or even at a higher interest rate could be interpreted as a concession unless the borrower could readily obtain similar credit terms from a different lender. The following table presents the balance of TDRs as of the indicated dates: (dollars in thousands) December 31 , 201 6 December 31, 201 5 TDRs included in nonperforming loans and leases $ 2,632 $ 1,935 TDRs in compliance with modified terms 6,395 4,880 Total TDRs $ 9,027 $ 6,815 The following table presents information regarding loan and lease modifications categorized as TDRs for the twelve December 31, 2016: For the Twelve Months Ended December 31, 2016 (dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial mortgage 1 $ 1,256 $ 1,256 Residential 2 141 148 Home equity lines and loans 6 265 265 Commercial and industrial 4 1,006 1,006 Leases 3 104 104 Total 16 $ 2,772 $ 2,779 The following table presents information regarding the types of loan and lease modifications made for the twelve December 31, 2016: Number of Contracts Interest Rate Change Loan Term Extension Interest Rate Change and Term Extension Interest Rate Change and/or Interest-Only Period Contractual Payment Reduction (Leases only) Temporary Payment Deferral Commercial mortgage — 1 — — — — Residential — — 2 — — — Home equity lines and loans — — — 6 — Commercial and industrial — 3 — — — 1 Leases — — — — 3 — Total — 4 2 6 3 1 The following table presents information regarding loan and lease modifications categorized as TDRs for the twelve December 31, 2015: For the Twelve Months Ended December 31, 2015 (dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Residential 4 $ 2,181 $ 2,181 Home equity lines and loans 1 22 22 Leases 2 66 66 Total 7 $ 2,269 $ 2,269 The following table presents information regarding the types of loan and lease modifications made for the twelve December 31, 2015: Number of Contracts Interest Rate Change Loan Term Extension Interest Rate Change and Term Extension Interest Rate Change and/or Interest-Only Period Contractual Payment Reduction (Leases only) Temporary P ayment Deferral Residential — — 2 2 — — Home equity lines and loans — — — 1 — — Leases — — — — 2 — Total — — 2 3 2 — During the twelve December 31, 2016, 2015. H. Impaired Loans The following tables detail the recorded investment and principal balance of impaired loans by portfolio segment, their related allowance for loan and lease losses and interest income recognized for the twelve December 31, 2016, 2015 2014 (dollars in thousands) As of or for the Twelve Months Ended December 31, 2016 Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized Impaired loans with related allowance: Residential mortgage $ 622 $ 622 $ 73 $ 639 $ 27 $ — Commercial and industrial 84 84 5 103 5 — Consumer 31 31 8 33 2 — Total 737 737 86 775 34 — Impaired loans* without related allowance: Commercial mortgage 1,577 1,577 — 1,583 70 — Home equity lines and loans 2,354 2,778 — 2,833 25 — Residential mortgage 6,644 6,970 — 7,544 276 — Commercial and industrial 2,862 3,692 — 8,362 146 — Total 13,437 15,017 — 20,322 517 — — Grand total $ 14,174 $ 15,754 $ 86 $ 21,097 $ 551 $ — * The table above does not include the recorded investment of $24 0 thousand of impaired leases without a related allowance for loan and lease losses. **Recorded investment equals principal balance less partial charge-offs and interest payments on non-performing loans that have been applied to principal. (dollars in thousands) As of or for the Twelve Months Ended December 31, 2015 Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized Impaired loans with related allowance: Home equity lines and loans $ 115 $ 115 $ 115 $ 125 $ 4 $ — Residential mortgage 515 527 54 531 23 — Commercial and industrial 2,011 2,002 519 2,215 49 — Consumer 30 30 5 31 1 — Total 2,671 2,674 693 2,902 77 — Impaired loans* without related allowance: Commercial mortgage 349 358 — 361 9 — Home equity lines and loans 1,865 2,447 — 2,605 46 — Residential mortgage 7,239 8,166 — 8,085 257 — Construction 33 996 — 1,087 — — Commercial and industrial 2,229 3,089 — 4,985 124 — Total 11,715 15,056 — 17,123 436 — — Grand total $ 14,386 $ 17,730 $ 693 $ 20,025 $ 513 $ — * The table above does not include the recorded investment of $7 7 thousand of impaired leases without a related allowance for loan and lease losses. **Recorded investment equals principal balance less partial charge-offs and interest payments on non-performing loans that have been applied to principal. (dollars in thousands) As of or for the Twelve Months Ended December 31, 2014 Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized Impaired loans with related allowance: Home equity lines and loans $ 111 $ 198 $ 4 $ 197 $ — $ — Residential mortgage 3,273 3,260 184 3,289 112 — Commercial and industrial 2,069 2,527 448 2,577 49 — Consumer 31 32 32 32 1 — Total 5,484 6,017 668 6,095 162 — Impaired loans* without related allowance: Commercial mortgage 97 97 — 103 4 — Home equity lines and loans 1,044 1,137 — 1,251 12 — Residential mortgage 5,369 5,794 — 6,210 152 — Construction 264 1,225 — 1,427 — — Commercial and industrial 1,391 1,403 — 1,430 11 — Total 8,165 9,656 — 10,421 179 — — Grand total $ 13,649 $ 15,673 $ 668 $ 16,516 $ 341 $ — * The table above does not include the recorded investment of $ 32 thousand of impaired leases without a related allowance for loan and lease losses. **Recorded investment equals principal balance less partial charge-offs and interest payments on non-performing loans that have been applied to principal. I. Loan Mark Loans acquired in mergers and acquisitions are recorded at fair value as of the date of the transaction. This adjustment to the acquired principal amount is referred to as the “Loan Mark”. With the exception of purchased credit impaired loans, for which the Loan Mark is accounted under ASC 310 30, The following tables detail, for acquired loans (dollars in thousands) As of December 31, 2016 Outstanding Principal Remaining Loan Mark Recorded Investment Commercial mortgage $ 168,612 $ (4,593 ) $ 164,019 Home equity lines and loans 31,236 (1,687 ) 29,549 Residential mortgage 73,902 (2,630 ) 71,272 Commercial and industrial 32,812 (3,355 ) 29,457 Consumer 163 (22 ) 141 Total $ 306,725 $ (12,287 ) $ 294,438 (dollars in thousands) As of December 31, 2015 Outstanding Principal Remaining Loan Mark Recorded Investment Commercial mortgage $ 197,532 $ (5,844 ) $ 191,688 Home equity lines and loans 40,258 (1,974 ) 38,284 Residential mortgage 93,230 (3,313 ) 89,917 Construction 3,807 (541 ) 3,266 Commercial and industrial 67,181 (5,412 ) 61,769 Consumer 220 (25 ) 195 Total $ 402,228 $ (17,109 ) $ 385,119 |
Note 6 - Other Real Estate Owne
Note 6 - Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | Note 6 Other real estate owned consists of properties acquired as a result of foreclosures or deeds in-lieu-of foreclosure. Properties or other assets are classified as OREO and are reported at the lower of carrying value or fair value, less estimated costs to sell. Costs relating to the development or improvement of assets are capitalized, and costs relating to holding the property are charged to expense. As of December 31, 2016 seven The summary of the change in other real estate owned, which is included as a component of other assets on the Corporation's Consolidated Balance Sheets, is as follows: December 31, (dollars in thousands) 2016 2015 Balance January 1 $ 2,638 $ 1,147 Additions 355 2,673 Impairments (94 ) (89 ) Sales (1,882 ) (1,093 ) Balance December 31 $ 1,017 $ 2,638 |
Note 7 - Premises and Equipment
Note 7 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 7 A. A summary of premises and equipment is as follows: December 31, (dollars in thousands) 2016 2015 Land $ 5,306 $ 5,306 Buildings 24,998 24,820 Furniture and equipment 36,930 34,758 Leasehold improvements 24,713 24,596 Construction in progress 56 500 Less: accumulated depreciation (50,225 ) (44,641 ) Total $ 41,778 $ 45,339 Depreciation and amortization expense related to the assets detailed in the above table for the years ended December 31, 2016, 2015, 2014 $5.8 $5.1 $3.6 B. Future minimum cash rent commitments under various operating leases as of December 31, 201 6 are as follows: (dollars in thousands) 2016 $ 4,234 2017 4,166 2018 3,908 2019 3,345 2020 2,721 2021 and thereafter 13,109 Total $ 31,483 Rent expense on leased premises and equipment for the years ended December 31, 2016, 2015 2014 $4.6 $5.1 $3.3 |
Note 8 - Mortgage Servicing Rig
Note 8 - Mortgage Servicing Rights ("MSR"s) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | Note 8 A. The following summarizes the Corporation’s activity related to MSRs for the years ended December 31: (dollars in thousands) 2016 2015 2014 Balance, January 1 $ 5,142 $ 4,765 $ 4,750 Additions 1,321 1,037 547 Amortization (750 ) (590 ) (476 ) Impairment (131 ) (70 ) (56 ) Balance, December 31 $ 5,582 $ 5,142 $ 4,765 Fair value $ 6,154 $ 5,726 $ 5,456 Residential mortgage loans serviced for others $ 631,889 $ 601,939 $ 590,660 B. The following summarizes the Corporation’s activity related to changes in the impairment valuation allowance of MSRs for the years ended December 31: (dollars in thousands) 2016 2015 2014 Balance, January 1 $ (1,674 ) $ (1,604 ) $ (1,548 ) Impairment (715 ) (123 ) (97 ) Recovery 584 53 41 Balance, December 31 $ (1,805 ) $ (1,674 ) $ (1,604 ) C. Other MSR Information December 31, 2016, 10 20 (dollars in thousands) Fair value amount of MSRs $ 6,154 Weighted average life (in years) 6.3 Prepayment speeds (constant prepayment rate)* 10.2 % Impact on fair value: 10% adverse change $ (115 ) 20% adverse change $ (238 ) Discount rate 9.55 % Impact on fair value: 10% adverse change $ (225 ) 20% adverse change $ (434 ) * Represents the weighted average prepayment rate for the life of the MSR asset At December 31, 2016, 2015 2014, $6.2 $5.7 $5.5 third third These assumptions and sensitivities are hypothetical and should be used with caution. As the figures indicate, changes in fair value based on a 10% may one may |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 9 A. The following table details the components of deposits: As of December 31, (dollars in thousands) 2016 2015 Savings $ 232,193 $ 187,299 NOW accounts* 380,057 339,366 Market rate accounts* 835,296 816,938 Retail time deposits, less than $100 139,276 123,113 Retail time deposits, $100 or more 183,636 106,140 Wholesale time deposits 73,037 53,185 Total interest-bearing deposits 1,843,495 1,626,041 Non-interest-bearing deposits 736,180 626,684 Total deposits $ 2,579,675 $ 2,252,725 * Includes wholesale deposits. The aggregate amount of deposit and mortgage escrow overdrafts included as loans as of December 31, 2016 2015 $818 $840 B. The following tables detail the maturities of retail time deposits: As of December 31, 2016 (dollars in thousands) $100 or more Less than $100 Maturing during: 2017 $ 154,965 $ 107,043 2018 16,281 17,152 2019 4,982 8,011 2020 3,044 3,466 2021 and thereafter 4,364 3,604 Total $ 183,636 $ 139,276 C. The following tables detail the maturities of wholesale time deposits: As of December 31, 2016 (dollars in thousands) $100 or more Less than $100 Maturing during: 2017 $ 72,783 $ 254 Total $ 72,783 $ 254 |
Note 10 - Short-term Borrowings
Note 10 - Short-term Borrowings and Long-term FHLB Advances | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 10 - Short-Term Borrowings and Long-Term FHLB Advances A. Short-term borrowings – December 31, 2016 2015, $204.2 $94.2 one A summary of short-term borrowings is as follows: As of December 31, (dollars in thousands) 2016 2015 Repurchase agreements* – commercial customers $ 39,151 $ 29,156 Repurchase agreement – correspondent bank — 5,011 Short-term FHLB advances 165,000 30,000 Overnight federal funds — 30,000 Total short-term borrowings $ 204,151 $ 94,167 * overnight repurchase agreements with no expiration date The following table sets forth information concerning short-term borrowings: As of or Twelve Months Ended December 31, (dollars in thousands) 2016 2015 Balance at period-end $ 204,151 $ 94,167 Maximum amount outstanding at any month end $ 204,151 $ 94,167 Average balance outstanding during the period $ 37,041 $ 36,010 Weighted-average interest rate: As of the period-end 0.66 % 0.56 % Paid during the period 0.25 % 0.13 % Average balances outstanding during the year represent daily average balances and average interest rates represent interest expense divided by the related average balance. B. Long-term FHLB Advances: As of December 31, 2016 2015, $189.7 $254.9 one The following table presents the remaining periods until maturity of the long-term FHLB advances: As of December 31, (dollars in thousands) 2016 2015 Within one year $ 75,000 $ 75,000 Over one year through five years 114,742 179,863 Total $ 189,742 $ 254,863 The following table presents rate and maturity information on FHLB advances and other borrowings: Maturity Range* Weighted Average Coupon Rate Balance at December 31, Description From To Rate From To 2016 2015 Bullet maturity – fixed rate 02/01/17 12/09/20 1.44 % 0.80 % 2.13 % 153,612 198,612 Bullet maturity – variable rate 11/28/17 11/28/17 1.08 % 1.08 % 1.08 % 15,000 35,000 Convertible-fixed 01/03/18 08/20/18 2.94 % 2.58 % 3.50 % 21,130 21,251 Total $ 189,742 $ 254,863 *Maturity range and interest rates refers to December 31, 2016 balances Included in the table above as of December 31, 2016 2015 $21.1 $21.3 December 31, 2016, 2017. C. Other Information $17.3 December 31, 2016, $12.9 December 31, 2015. The level of required investment in FHLB stock is based on the balance of outstanding loans the Corporation has from the FHLB. Although FHLB stock is a financial instrument that represents an equity interest in the FHLB, it does not have a readily determinable fair value. FHLB stock is generally viewed as a long-term investment. Accordingly, when evaluating FHLB stock for impairment, its value should be determined based on the ultimate recoverability of the par value rather than by recognizing temporary declines in value. The Corporation had a maximum borrowing capacity (“MBC”) with the FHLB of $1.22 December 31, 2016 $886.0 $79.0 $117.3 $5.0 |
Note 11 - Subordinated Notes
Note 11 - Subordinated Notes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | Note 11 On August 6, 2015, $30 2025 The net proceeds of the offering, which totaled $29.5 2 The Notes bear interest at an annual fixed rate of 4.75% August 14, 2020, first February 15, 2016 August 15 February 15 August 15, 2020. three 3.068% August 15, 2025, November 15, February 15, May 15 August 15 August 15, 2020, 100% In conjunction with the issuance, the Corporation engaged the Kroll Bond Rating Agency (“KBRA”) to assign a senior unsecured long-term debt rating, a subordinated debt rating and a short-term rating to the Corporation. As a result of their evaluation, KBRA assigned the Corporation a senior unsecured debt rating of A-, a subordinated debt rating of BBB+ and a short-term debt rating of K2. |
Note 12 - Derivatives and Hedgi
Note 12 - Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 12 In December 2012, $15 On November 30, 2015, December 31, 2016 2015, no The following table details the Corporation’s derivative positions as of the December 31, 2014: (dollars in thousands) Notional Amount Trade Date Effective Date Maturity Date Receive (Variable) Index Current Projected Receive Rate Pay Fixed Swap Rate Fair Value of Asset (Liability) $ 15,000 12/13/2012 11/30/2015 11/28/2022 US 3-Month LIBOR 2.335 % 2.376 % $ (39 ) For the twelve December 31, 2015, $372 twelve December 31, 2015, $611 $214 twelve December 31, 2014, no |
Note 13 - Disclosure about Fair
Note 13 - Disclosure about Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | Note 13 FASB ASC 825, The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Cash and Cash Equivalents The carrying amounts reported in the balance sheet for cash and cash equivalents approximate their fair values. Investment Securities Fair values for investment securities are generally determined by the Corporation including the use of an independent third third third third Loans Held for Sale The fair value of loans held for sale is based on pricing obtained from secondary Net Portfolio Loans and Leases For variable rate loans that reprice frequently and which have no significant change in credit risk, estimated fair values are based on carrying values. Fair values of certain fixed rate mortgage loans and consumer loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality and is indicative of an entry price. The estimated fair value of nonperforming loans is based on discounted estimated cash flows as determined by the internal loan review of the Bank or the appraised market value of the underlying collateral, as determined by independent third Impaired Loans The Corporation evaluates and values impaired loans at the time the loan is identified as impaired, and the fair values of such loans are estimated using Level 3 10% 50%. may may Other Real Estate Owned Other real estate owned consists of properties acquired as a result of foreclosures and deeds in-lieu-of foreclosure. Properties are classified as OREO and are reported at the lower of cost or fair value less cost to sell, and are classified as Level 3 Mortgage Servicing Rights The fair value of the MSRs for these periods was determined using a proprietary third 3 Other Assets Due to their short-term nature, the carrying amounts of accrued interest receivable, income taxes receivable and other investments approximate their fair value. Deposits The fair values disclosed for non-interest-bearing demand deposits, savings, NOW accounts, and market rate accounts are, by definition, equal to the amounts payable on demand at the reporting date (i.e., their carrying amounts). Fair values for certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of expected monthly maturities on the certificates of deposit. FASB Codification 825 Short-term borrowings Due to their short-term nature, the carrying amount of short-term borrowings, which include overnight repurchase agreements approximate their fair value. FHLB Advances and Other Borrowings The fair value of FHLB advances and other borrowings is established using a discounted cash flow calculation that applies interest rates currently being offered on mid-term and long term borrowings. Subordinated N otes The fair value of the Notes is estimated by discounting the principal balance using the FHLB yield curve for the term to the call date as the Corporation has the option to call the Notes. The Notes are classified within Level 2 Other Liabilities The carrying amounts of accrued interest payable and other accrued payables approximate fair value. The fair value of the interest-rate swap derivative is derived from quoted prices for similar instruments in active markets and is classified as using Level 2 Off-Balance Sheet Instruments The fair values of the Corporation’s commitments to extend credit, standby letters of credit and financial guarantees are not included in the table below as their carrying values generally approximate their fair values. These instruments generate fees that approximate those currently charged to originate similar commitments. The carrying amount and fair value of the Corporation’s financial instruments are as follows: As of December 31, 2016 2015 (dollars in thousands) Fair Value Hierarchy Level* Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Cash and cash equivalents Level 1 $ 50,765 $ 50,765 $ 143,067 $ 143,067 Investment securities - available for sale See Note 14 566,996 566,996 348,966 348,966 Investment securities - trading See Note 14 3,888 3,888 3,950 3,950 Investment securities – held to maturity Level 2 2,879 2,818 — — Loans held for sale Level 2 9,621 9,621 8,987 8,987 Net portfolio loans and leases Level 3 2,517,939 2,505,546 2,253,131 2,273,947 Mortgage servicing rights Level 3 5,582 6,154 5,142 5,726 Other assets Level 3 34,465 34,465 30,271 30,271 Total financial assets $ 3,192,135 $ 3,180,253 $ 2,793,514 $ 2,814,914 Financial liabilities: Deposits Level 2 $ 2,579,675 $ 2,579,011 $ 2,252,725 $ 2,251,703 Short-term borrowings Level 2 204,151 204,151 94,167 94,156 FHLB advances and other borrowings Level 2 189,742 186,863 254,863 254,796 Subordinated notes Level 2 29,532 29,228 29,479 27,453 Other liabilities Level 2 37,303 37,303 34,052 34,052 Total financial liabilities $ 3,040,403 $ 3,036,556 $ 2,665,286 $ 2,662,160 * see Note 1 4 in the Notes to Consolidated Financial Statements for a description of hierarchy levels . |
Note 14 - Fair Value Measuremen
Note 14 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 14 FASB ASC 820, The value of the Corporation’s available for sale investment securities, which include obligations of the U.S. government and its agencies, mortgage-backed securities issued by U.S. government- and U.S. government sponsored agencies, obligations of state and political subdivisions, corporate bonds, other debt securities, as well as bond mutual funds are determined by the Corporation, including the use of an independent third third third two may may U.S. Government agencies are evaluated and priced using multi-dimensional relational models and option adjusted spreads. State and municipal securities are evaluated on a series of matrices including reported trades and material event notices. Mortgage-backed securities are evaluated using matrix correlation to treasury or floating index benchmarks, prepayment speeds, monthly payment information and other benchmarks. Other available-for-sale investments are evaluated using a broker-quote based application, including quotes from issuers. The value of the investment portfolio is determined using three Level 1 Level 2 Level 3 These levels are not necessarily an indication of the risks or liquidity associated with these investments. The following tables summarize the assets at December 31, 2016 2015 Fair value of assets measured on a recurring basis as of December 31, 2016: (dollars in millions) Total Level 1 Level 2 Level 3 Investment securities (available for sale and trading): U.S. Treasury securities $ 200.1 $ 200.1 $ — $ — Obligations of U.S. government & agencies 82.2 — 82.2 — Obligations of state & political subdivisions 33.5 — 33.5 — Mortgage-backed securities 188.8 — 188.8 — Collateralized mortgage obligations 48.7 — 48.7 — Mutual funds 19.1 19.1 — — Other debt securities 1.3 — 1.3 — Total assets measured on a recurring basis at fair value $ 573.7 $ 219.2 $ 354.5 $ — Fair value of assets measured on a non-recurring basis as of December 31, 2016: (dollars in millions) Total Level 1 Level 2 Level 3 Mortgage servicing rights $ 6.2 $ — $ — $ 6.2 Impaired loans and leases 14.3 — — 14.3 OREO 1.0 — — 1.0 Total assets measured at fair value on a non-recurring basis $ 21.5 $ — $ — $ 21.5 Fair value of assets measured on a recurring basis as of December 31, 2015: (dollars in millions) Total Level 1 Level 2 Level 3 Investment securities (available for sale and trading): U.S. Treasury securities $ 0.1 $ 0.1 $ — $ — Obligations of U.S. government & agencies 101.5 — 101.5 — Obligations of state & political subdivisions 42.0 — 42.0 — Mortgage-backed securities 158.7 — 158.7 — Collateralized mortgage obligations 29.8 — 29.8 — Mutual funds 19.2 19.2 — — Other debt securities 1.6 — 1.6 — Total assets measured on a recurring basis at fair value $ 352.9 $ 19.3 $ 333.6 $ — Fair value of assets measured on a non-recurring basis as of December 31, 2015: (dollars in millions) Total Level 1 Level 2 Level 3 Mortgage servicing rights $ 5.7 $ — $ — $ 5.7 Impaired loans and leases 13.8 — — 13.8 OREO 2.6 — — 2.6 Total assets measured at fair value on a non-recurring basis $ 22.1 $ — $ — $ 22.1 For the twelve December 31, 2016, $607 twelve December 31, 2015, $448 twelve December 31, 2016. |
Note 15 - 401(K) Plan and Other
Note 15 - 401(K) Plan and Other Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 15 401(K) The Corporation has a qualified defined contribution plan (the “401(K) 3.0% 401(K) $1.0 $920 $846 2016, 2015 2014, In addition to the matching contribution above, the Corporation provides a discretionary, non-matching employer contribution to the 401(K) $126 $1.3 $1.1 twelve December 31, 2016, 2015 2014, December 31, 2015 $2.3 transferred to the Corporation’s 401(K) 2016, two On June 28, 2013, twelve December 31, 2016, 2015 2014 $272 $164 $239 |
Note 16 - Pension and Postretir
Note 16 - Pension and Postretirement Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 16 A. General Overview December 31, 2015, three 20 1/2 two On May 29, 2015, June 2, 2015, December 31, 2015. $17.4 twelve December 31, 2015. SERP I provides each participant with the equivalent pension benefit provided by the QDBP on any compensation and bonus deferrals that exceed the IRS limit applicable to the QDBP. On February 12, 2008, March 31, 2008. On April 1, 2008, March 31, 2013, 20% The Corporation also has a postretirement benefit plan (“PRBP”) that covers certain retired employees and a group of current employees. The PRBP was closed to new participants in 1994. 2007, 2007 2008. The following table provides information with respect to our QDBP, SERP, and PRBP, including benefit obligations and funded status, net periodic pension costs, plan assets, cash flows, amortization information and other accounting items. B. Actuarial Assumptions used to determine benefit obligations as of December 31 QDBP SERP I and SERP II PRBP 2016 2015 2016 2015 2016 2015 Discount rate N/A N/A 3.75 % 3.90 % 2.80 % 3.90 % Rate of increase for future compensation N/A N/A N/A N/A N/A N/A Expected long-term rate of return on plan assets N/A N/A N/A N/A N/A N/A C. Changes in Benefit Obligations and Plan Assets: QDBP SERP I & SERP II PRBP (dollars in thousands) 2016 2015 2016 2015 2016 2015 Change in benefit obligations Benefit obligation at January 1 $ 169 $ 44,092 $ 4,830 $ 5,079 $ 493 $ 540 Service cost — — — — — — Interest cost — 1,589 184 184 17 18 Plan participants contribution — — — — 49 46 Actuarial loss (gain) — (2,978 ) 32 (178 ) (6 ) 27 Settlements — (40,625 ) — — — — Benefits paid (169 ) (1,909 ) (260 ) (255 ) (135 ) (138 ) Benefit obligation at December 31 $ — $ 169 $ 4,786 $ 4,830 $ 418 $ 493 Change in plan assets Fair value of plan assets at January 1 $ 169 $ 43,874 $ — $ — $ — $ — Actual return on plan assets — 1,140 — — — — Settlements — (40,625 ) — — — Excess assets transferred to defined contribution plan — (2,311 ) — — — Employer contribution — — 260 254 86 92 Plan participants’ contribution — — — — 49 46 Benefits paid (169 ) (1,909 ) (260 ) (254 ) (135 ) (138 ) Fair value of plan assets at December 31 $ — $ 169 $ — $ — $ — $ — Funded status at year end (plan assets less benefit obligations) $ — $ — $ (4,786 ) $ (4,830 ) $ (418 ) $ (493 ) As indicated in the table above, the excess assets remaining in the settled QDBP as of December 31, 2015 QDBP SERP I & SERP II PRBP For the Twelve Months Ended December 31, Amounts included in the consolidated balance sheet as other assets (liabilities) and accumulated other comprehensive income including the following: 2016 2015 2016 2015 2016 2015 Prepaid benefit cost/(accrued liability) $ — $ — $ (3,248 ) $ (3,266 ) $ (170 ) $ (197 ) Net actuarial loss — — (1,539 ) (1,564 ) (248 ) (296 ) Prior service cost — — — — — — Unrecognized net initial obligation — — — — — — Net included in Other Liabilities in the Consolidated Balance Sheets $ — $ — $ (4,787 ) $ (4,830 ) $ (418 ) $ (493 ) D. The following tables provide the components of net periodic pension costs for the periods indicated: QDBP Net Periodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Service cost $ — $ — $ — Interest cost — 1,589 1,640 Expected return on plan assets — (3,217 ) (3,348 ) Amortization of prior service cost — — — Recognition of net actuarial loss — 1,913 391 Recognition of net actuarial loss due to settlement — 17,377 — Net periodic pension cost (benefit) $ — $ 17,662 $ (1,317 ) SERP I and SERP II Pe riodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Service cost $ — $ — $ 61 Interest cost 184 184 177 Gain on curtailment — — — Amortization of prior service cost — — 14 Recognition of net actuarial loss 57 63 (33 ) Net periodic pension cost (benefit) $ 241 $ 247 $ 219 PRBP Net Periodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Service cost $ — $ — $ — Interest cost 17 18 29 Settlement — — — Amortization of transition obligation — — — Amortization of prior service cost — — — Recognition of net actuarial loss 41 37 61 Net periodic pension cost $ 58 $ 55 $ 90 For the Twelve Months Ended December 31, 2016 2015 2014 Discount Rate Used in the Calculation of Periodic Pension Costs 3.90 % 3.70 % 4.60 % E. Plan Assets: As of December 31, 2015, $169 January 2016 F. Cash Flows The following benefit payments, which reflect expected future service, are expected to be paid over the next ten (dollars in thousands) SERP I & SERP II PRBP Fiscal year ending 2017 $ 259 $ 78 2018 $ 257 $ 68 2019 $ 256 $ 59 2020 $ 254 $ 50 2021 $ 250 $ 42 2022-2026 $ 1,671 $ 125 G. Other Pension and Post Retirement Benefit Information In 2005, 120% 2005 H. Expected Contribution to be Paid in the Next Fiscal Year The 2017 $259 I. Actuarial Losses As indicated in section C of this footnote, the Corporation’s pension plans had cumulative actuarial losses as of December 31, 2016 10% |
Note 17 - Accumulated Other Com
Note 17 - Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 17 twelve December 31, 2016, 2015 2014: (dollars in thousands) Net Change in Unrealized Gains on Available-for- Sale Investment Securities Net Change in Fair Value of Derivative Used for Cash Flow Hedge Net Change in Unfunded Pension Liability Accumulated Other Comprehensive Loss Balance, December 31, 2013 $ (857 ) $ 743 $ (5,451 ) $ (5,565 ) Net change 2,173 (768 ) (7,544 ) (6,139 ) Balance, December 31, 2014 $ 1,316 $ (25 ) $ (12,995 ) $ (11,704 ) Balance, December 31, 2014 $ 1,316 $ (25 ) $ (12,995 ) $ (11,704 ) Net change (542 ) 25 11,809 11,292 Balance, December 31, 2015 $ 774 $ — $ (1,186 ) $ (412 ) Balance, December 31, 2015 $ 774 $ — $ (1,186 ) $ (412 ) Net change (2,005 ) 8 (1,997 ) Balance, December 31, 2016 $ (1,231 ) $ — $ (1,178 ) $ (2,409 ) The following tables detail the amounts reclassified from each component of accumulated other comprehensive loss for the twelve December 31, 2016, 2015 2014: Amount Reclassified from Accumulated Other Comprehensive Loss Description of Accumulated Other For The Twelve Months Ended December 31, Affected Income Statement Comprehensive Loss Component 2016 2015 2014 Category Net unrealized gain on investment securities available for sale: Realization of (loss) gain on sale of investment securities available for sale $ (77 ) $ 931 $ 471 Net gain (loss) on sale of available for sale investment securities Less: income tax benefit (expense) 27 (326 ) (165 ) Less: income tax benefit (expense) Net of income tax $ (50 ) $ 605 $ 306 Net of income tax Cash flow hedge : Realized loss on cash flow hedge $ — $ (611 ) $ — Other operating expenses Less: income tax benefit — 214 — Less: income tax benefit Net of income tax — (397 ) — Net of income tax Unfunded pension liability: Amortization of net loss included in net periodic pension costs* $ 98 $ 2,013 $ 419 Employee benefits Settlement of pension plan settlement — 17,377 — Loss on pension plan settlement Amortization of prior service cost included in net periodic pension costs* — — 14 Employee benefits Gain on curtailment of SERP II — — — Net gain on curtailment of nonqualified pension plan 98 19,390 433 Total expense before income tax benefit 34 6,787 152 Less: income tax benefit $ 64 $ 12,603 $ 281 Net of income tax *Accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 16 |
Note 18 - Income Taxes
Note 18 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 18 A. Components of Net Deferred Tax Asset: December 31, (dollars in thousands) 2016 2015 Deferred tax assets: Loan and lease loss reserve $ 6,492 $ 5,872 Other reserves 3,611 5,509 Net operating loss carry-forward 471 927 Alternative minimum tax credits 567 567 Unrealized depreciation of available for sale securities 663 — Defined benefit plans 2,068 1,851 Total deferred tax asset 13,872 14,726 Deferred tax liabilities: Other reserves 52 461 Originated MSRs 1,969 1,800 Amortizing fair value adjustments 1,336 911 Unrealized appreciation of available for sale securities — 417 Total deferred tax liability 3,357 3,589 Total net deferred tax asset $ 10,515 $ 11,137 Not included in the table above is a $157 December 31, 2016, 100% 2023 2035. $7.2 B. The provision (benefit) for income taxes consists of the following: (dollars in thousands) 2016 2015 2014 Current $ 16,492 $ 12,006 $ 12,655 Deferred 1,676 (2,834 ) 2,350 Total $ 18,168 $ 9,172 $ 15,005 C. Applicable income taxes differed from the amount derived by applying the statutory federal tax rate to income as follows: (dollars in thousands) 2016 Tax Rate 2015 Tax Rate 2014 Tax Rate Computed tax expense at statutory federal rate $ 18,972 35.0 % $ 9,074 35.0 % $ 14,997 35.0 % Tax-exempt income (758 ) (1.4 ) (622 ) (2.4 ) (401 ) (0.9 ) State tax (net of federal tax benefit) 425 0.8 299 1.2 215 0.5 Non-deductible merger expense — — 105 0.4 105 0.2 Excess tax benefit – stock based compensation (565 ) (1.0 ) — — — — Other, net 94 0.1 316 1.2 89 0.2 Total income tax expense $ 18,168 33.5 % $ 9,172 35.4 % $ 15,005 35.0 % D. Other Income Tax Information In accordance with the provisions of ASC 740, 50 There were no twelve December 31, 2016, 2015 2014. The Corporation is subject to income taxes in the U.S. federal jurisdiction, and in multiple state jurisdictions. The Corporation is no longer subject to U.S. federal income tax examination by tax authorities for the years before 2013. The Corporation’s policy is to record interest and penalties on uncertain tax positions as income tax expense. No 2016. As of December 31, 2016, $1.3 2030. $567 As a result of the July 1, 2010 June 30, 2010. December 31, 2016, $2.5 one (1) (2) (3) |
Note 19 - Stock-based Compensat
Note 19 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 19 A. General Information The Corporation permits the issuance of stock options, dividend equivalents, performance stock awards, stock appreciation rights and restricted stock awards to employees and directors of the Corporation under several plans. The performance awards and restricted awards may Prior to April 25, 2007, April 25, 2007, “2007 “2007 428,996 April 28, 2010, “2010 “2010 445,002 In addition to the shareholder-approved plans mentioned in the preceding paragraph, the Corporation periodically authorizes grants of stock-based compensation as inducement awards to new employees. This type of award does not require shareholder approval in accordance with Rule 5635(c)(4) The equity awards are authorized to be in the form of, among others, options to purchase the Corporation’s common stock, restricted stock awards or units (“RSAs” or “RSUs”) and performance stock awards or units (“PSAs” or “PSUs”). RSAs and RSUs have a restriction based on the passage of time. The grant date fair value of the RSAs and RSUs is based on the closing price on the date of the grant. PSAs and PSUs have a restriction based on the passage of time and also have a restriction based on a performance criteria. The performance criteria may may may 0% 150%. The following table summarizes the remaining shares authorized to be granted for options, RSAs and PSAs: Shares Authorized for Grant Balance, December 31, 2013 216,905 Shares authorized for grant under non-shareholder approved plans 47,368 Grants of RSUs (16,456 ) Grants of PSUs (71,184 ) Expiration of unexercised options 1,750 Forfeitures of RSAs and RSUs 2,560 Forfeitures of PSAs and PSUs 1,900 Balance, December 31, 2014 182,843 Shares authorized for grant under shareholder approved plans 500,000 Grants of RSUs (24,514 ) Grants of PSUs (92,474 ) Expiration of unexercised options 3,180 Non-vesting PSAs* 25,929 Forfeitures of PSAs and PSUs 22,801 Balance, December 31, 2015 617,765 Grants of RSUs (33,142 ) Grants of PSUs (45,346 ) Expiration of unexercised options — Non-vesting PSUs* 10,088 Forfeitures of PSUs 2,344 Forfeitures of RSUs 1,250 Balance, December 31, 2016 552,959 * Non-vesting PSAs and PSUs represent awards that did not meet their performance criteria , were cancelled and are available for future grant. B. Fair Value of Options Granted In connection with the CBH Merger, 181,256 $2.3 No twelve December 31, 2016, 2015 2014. C. Other Stock Option Information For the Twelve Months Ended December 31, 2016 2015 2014 Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Options outstanding, beginning of period 290,853 $ 20.88 $ 4.85 447,966 $ 20.94 $ 4.75 591,086 $ 20.73 $ 4.70 Granted — — — — $ — $ — — $ — $ — Assumed in the CBH Merger — — — 181,256 $ 17.73 $ — — $ — $ — Expired — — — (3,180 ) $ 21.33 $ 4.84 (1,750 ) $ 22.31 $ 4.99 Exercised (105,830 ) $ 20.61 7.32 (335,189 ) $ 19.25 $ 4.62 (141,370 ) $ 20.06 $ 4.51 Options outstanding, end of period 185,023 21.04 4.88 290,853 $ 20.88 $ 4.85 447,966 $ 20.94 $ 4.75 The following table provides information related to options as of December 31, 2016: Options Outstanding Options Exercisable Range of Exercise Prices Options Outstanding Remaining Contractual Life (in years) Shares Exercisable Remaining Contractual Life (in years) Weighted Average Exercise Price* $10.36 to $17.15 1,383 2.21 1,383 2.21 $ 12.58 $17.16 to $18.30 87,725 2.64 87,725 2.64 $ 18.27 $18.31 to $20.17 563 7.05 563 7.05 $ 18.33 $20.18 to $22.64 23,500 0.66 23,500 0.66 $ 22.00 $22.65 to $23.78 338 0.96 338 0.96 $ 23.28 $23.79 to $24.27 71,514 1.63 71,514 1.63 $ 24.27 185,023 2.00 185,023 2.00 $ 21.03 *price of exercisable options The following table provides information about unvested options: For the Twelve Months Ended December 31, 2016 2015 2014 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Unvested options, beginning of period — $ — — $ — 30,146 $ 4.42 Granted — $ — — $ — — $ — Assumed in CBH Merger — $ — 181,256 $ 12.94 — $ — Vested — $ — (181,256 ) $ 12.94 (30,146 ) $ 4.42 Forfeited — $ — — $ — — $ — Unvested options, end of period — $ — — $ — — $ — Proceeds, related tax benefits realized from options exercised and intrinsic value of options exercised were as follows: For the Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Proceeds from strike price of value of options exercised $ 2,181 $ 6,452 $ 2,836 Related tax benefit recognized 256 515 378 Proceeds of options exercised $ 2,437 $ 6,967 $ 3,214 Intrinsic value of options exercised $ 1,125 $ 3,615 $ 1,288 The following table provides information about options outstanding and exercisable options: As of December 31, 2015 2014 201 3 Options Outstanding Exercisable Options Options Outstanding Exercisable Options Options Outstanding Exercisable Options Number 185,023 185,023 290,853 290,853 447,966 447,966 Weighted average exercise price $ 21.03 $ 21.03 $ 20.88 $ 20.88 $ 20.94 $ 20.94 Aggregate intrinsic value $ 3,907,758 $ 3,907,758 $ 2,280,288 $ 2,280,288 $ 4,640,917 $ 4,640,917 Weighted average contractual term (in years) 2.0 2.0 2.9 2.9 2.7 2.7 As of December 31, 2016, D. Restricted Stock and Performance Stock Awards and Units The Corporation has granted RSAs, RSUs, PSAs and PSUs under the 2007 2010 Rule 5635(c)(4) RSAs and RSUs The compensation expense for the RSAs is measured based on the market price of the stock on the day prior to the grant date and is recognized on a straight line basis over the vesting period. For the twelve December 31, 2016, $590 December 31, 2016, $1.2 2.2 The following table details the RSAs for the twelve December 31, 2016, 2015 2014: Twelve Months Ended December 31, 2016 Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Beginning balance 42,802 $ 28.58 46,281 $ 23.17 54,156 $ 19.36 Granted 33,142 $ 29.67 24,514 $ 29.83 16,456 $ 28.88 Vested (15,832 ) $ 27.14 (27,993 ) $ 20.73 (21,771 ) $ 18.21 Forfeited (1,250 ) $ 29.12 — $ — (2,560 ) $ 21.48 Ending balance 58,862 $ 29.57 42,802 $ 28.58 46,281 $ 23.17 PSAs and PSUs The compensation expense for PSAs and PSUs is measured based on their grant date fair value as calculated using the Monte Carlo Simulation and is recognized on a straight-line basis over the vesting period. For the twelve December 31, 2015, two Assumptions used in the Monte Carlo Simulation for the grant of 23,675 August 2016, 21.87% 0.82% 0.4505. The Corporation recognized $1.1 twelve December 31, 2016. December 31, 2016, $2.0 2.0 The following table details the PSAs and PSUs for the twelve December 31, 2016, 2015 2014: Twelve Months Ended December 31, 2016 Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Beginning balance 216,820 $ 15.07 217,318 $ 13.41 204,980 $ 11.90 Granted 45,346 $ 28.34 92,474 $ 16.42 71,184 $ 15.05 Vested (56,890 ) $ 13.38 (44,242 ) $ 11.80 (56,946 ) $ 10.07 Non-vesting* (10,088 ) $ 13.38 (25,929 ) $ 11.80 — $ — Forfeited (2,344 ) $ 15.37 (22,801 ) $ 14.75 (1,900 ) $ 12.32 Ending balance 192,844 $ 18.77 216,820 $ 15.07 217,318 $ 13.41 __________________________ * Non-vesting PSAs represent PSAs that did not meet their performance criteria, and were therefore cancelled. The associated expense, however, was incurred over the vesting period. |
Note 20 - Earnings Per Share
Note 20 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 20 The calculation of basic earnings per share and diluted earnings per share is presented below: (dollars in thousands, Year Ended December 31, except per share data) 2016 2015 2014 Numerator $ 36,036 $ 16,754 $ 27,843 Denominator for basic earnings per share – * 16,859,623 17,488,325 13,566,239 Effect of dilutive potential common shares 168,499 267,996 294,801 Denominator for diluted earnings per share – 17,028,122 17,756,321 13,861,040 Basic earnings per share $ 2.14 $ 0.96 $ 2.05 Diluted earnings per share $ 2.12 $ 0.94 $ 2.01 Antidilutive shares excluded from computation of average dilutive earnings per share — — — *excludes restricted stock All weighted average shares, actual shares and per share information in the financial statements have been adjusted retroactively for the effect of stock dividends and splits. See Note 1 |
Note 21 - Other Operating Incom
Note 21 - Other Operating Income | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Interest and Other Income [Text Block] | Note 21 Components of other operating income for the indicated years ended December 31 (dollars in thousands) 2016 2015 2014 Merchant interchange fees $ 1,381 $ 1,238 $ 934 Bank owned life insurance income 908 783 315 Commissions and fees 673 867 637 Safe deposit box rentals 382 384 389 Other investment income 223 248 142 Rent income 163 175 164 Miscellaneous other income 1,138 1,154 502 Other operating income $ 4,868 $ 4,849 $ 3,083 |
Note 22 - Other Operating Expen
Note 22 - Other Operating Expense | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | Note 22 Components of other operating expense for the indicated years ended December 31 (dollars in thousands) 2016 2015 2014 Telephone and data lines $ 1,620 $ 1,704 $ 1,332 FDIC insurance 1,616 1,447 1,046 Temporary help and recruiting 1,522 1,362 1,171 Loan processing 164 1,285 723 Debt prepayment penalty — 1,131 526 Travel and entertainment 894 868 725 Insurance 788 770 759 MSR amortization and impairment 881 660 532 Stationary and supplies 518 623 445 Director fees 566 568 443 Postage 551 540 471 Outsourced services 569 508 432 Contributions 957 468 403 Dues and subscriptions 456 441 368 Portfolio maintenance 391 385 389 Other taxes 45 80 51 Deferred compensation expense 664 15 266 Miscellaneous other expense 1,505 1,643 1,490 Other operating expense $ 13,707 $ 14,498 $ 11,572 |
Note 23 - Related Party Transac
Note 23 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 23 In the ordinary course of business, the Bank granted loans to principal officers, directors and their affiliates. Loan activity during 2016 2015 (dollars in thousands) 2016 2015 Loan balances, beginning of year $ 11,386 $ 2,874 Additions 1,227 9,115 Amounts collected (889 ) (603 ) Loan balances as end of year $ 11,724 $ 11,386 Related party deposits amounted to $6.0 $3.6 December 31, 2016 2015, |
Note 24 - Financial Instruments
Note 24 - Financial Instruments with Off-Balance Sheet Risk, Contingencies and Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Financial Instruments with off Balance Sheet Risk Contingencies and Concentration of Credit Risk [Text Block] | Note 24 Off-Balance Sheet Risk The Corporation is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated statements of financial condition. The contractual amounts of those instruments reflect the extent of involvement the Corporation has in particular classes of financial instruments. The Corporation’s exposure to credit loss in the event of nonperformance by the counterparty to the financial instrument of commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Corporation uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet financial instruments. Commitments to extend credit, which include unused lines of credit and unfunded commitments to originate loans, are agreements to lend to a customer as long as there is no violation of any condition established in the agreement. Commitments generally have fixed expiration dates or other termination clauses and may December 31, 2016 $675.4 may Standby letters of credit are conditional commitments issued by the Bank to a customer for a third may December 31, 2016 $12.7 December 31, 2016. Contingencies Legal Matters In the ordinary course of business, the Corporation is subject to litigation, claims, and assessments that involve claims for monetary relief. Some of these are covered by insurance. Based upon information presently available to the Corporation and its counsel, it is the Corporation’s opinion that any legal and financial responsibility arising from such claims will not have a material, adverse effect on its results of operations, financial condition or capital. Indemnifications In general, the Corporation does not sell loans with recourse, except to the extent that it arises from standard loan-sale contract provisions. These provisions cover violations of representations and warranties and, under certain circumstances, first may secondary twelve December 31, 2016, 2015 2014, December 31, 2016, Concentrations of Credit Risk The Corporation has a material portion of its loans in real estate-related loans. A predominant percentage of the Corporation’s real estate exposure, both commercial and residential, is in the Corporation’s primary trade area which includes portions of Delaware, Chester, Montgomery and Philadelphia counties in Southeastern Pennsylvania. The Corporation is aware of this concentration and attempts to mitigate this risk to the extent possible in many ways, including the underwriting and assessment of borrower’s capacity to repay. See Note 5 As of December 31, 2016, |
Note 25 - Dividend Restrictions
Note 25 - Dividend Restrictions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Restrictions on Dividends, Loans and Advances [Text Block] | Note 25 Dividend Restrictions The Bank is subject to the Pennsylvania Banking Code of 1965 two two December 31, 2015 2016 $364 twelve December 31, 2016, $16.0 January 1, 2017 2017 $364 may 26 |
Note 26 - Regulatory Capital Re
Note 26 - Regulatory Capital Requirements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 2 6 - Regulatory Capital Requirements A. General Regulatory Capital Information Both the Corporation and the Bank are subject to various regulatory capital requirements, administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if taken, could have a direct material effect on the Corporation’s and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Beginning in 2015, 10 B. S- 3 In March 2015, 3 2012 April 2015. may one $200 In addition, the Corporation has in place under its Shelf Registration Statement a Dividend Reinvestment and Stock Purchase Plan (the “Plan”), which allows it to issue up to 1,500,000 $120 For the twelve December 31, 2016, not No twelve December 31, 2016. twelve December 31, 2016. C. Shares Issued in Mergers and Acquisitions In connection with the acquisition of CBH, the Corporation issued 3,878,304 $121.4 4 July 2014. D . Share Repurchases For the twelve December 31, 2015 2016, 862,500 286,700 E . Regulatory Capital Ratios As set forth in the following table, quantitative measures have been established to ensure capital adequacy ratios required of both the Corporation and the Bank. Both the Corporation’s and the Bank’s Tier II capital ratios are calculated by adding back a portion of the loan loss reserve to the Tier I capital. As of December 31, 2016 2015, December 31, 2016 2015. The Corporation’s and the Bank’s capital amounts and ratios as of December 31, 2016 2015 Actual Minimum to be Well Capitalized (dollars in thousands) Amount Ratio Amount Ratio December 31, 2016 Total (Tier II) capital to risk weighted assets: Corporation $ 318,191 12.35 % $ 257,651 10.00 % Bank $ 287,897 11.19 % $ 257,179 10.00 % Tier I capital to risk weighted assets: Corporation $ 270,845 10.51 % $ 206,121 8.00 % Bank $ 270,083 10.50 % $ 205,743 8.00 % Tier I capital to average assets: Corporation $ 270,845 8.73 % $ 201,546 6.50 % Bank $ 270,083 8.73 % $ 201,189 6.50 % Common equity Tier I to risk weighted assets Corporation $ 270,845 10.51 % $ 128,826 5.00 % Bank $ 270,083 10.50 % $ 128,589 5.00 % December 31, 2015 Total (Tier II) capital to risk weighted assets: Corporation $ 302,236 12.61 % $ 239,680 10.00 % Bank $ 257,716 10.78 % $ 239,069 10.00 % Tier I capital to risk weighted assets: Corporation $ 256,900 10.72 % $ 191,716 8.00 % Bank $ 241,859 10.12 % $ 191,193 8.00 % Tier I capital to average assets: Corporation $ 256,900 9.02 % $ 185,127 6.50 % Bank $ 241,859 8.51 % $ 184,734 6.50 % Common equity Tier I to risk weighted assets Corporation $ 256,900 10.72 % $ 119,823 5.00 % Bank $ 241,859 10.12 % $ 119,496 5.00 % |
Note 27 - Selected Quarterly Fi
Note 27 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 2 7 - Selected Quarterly Financial Data (Unaudited) 2016 (dollars in thousands, except per share data) 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Interest income $ 28,269 $ 29,286 $ 29,514 $ 29,922 Interest expense 2,367 2,659 2,797 2,932 Net interest income 25,902 26,627 26,717 26,990 Provision for loan and lease losses 1,410 445 1,412 1,059 Other income 13,208 13,820 13,892 13,119 Other expense 25,051 26,259 25,477 24,958 Income before income taxes 12,649 13,743 13,720 14,092 Income taxes 4,328 4,810 4,346 4,684 Net income $ 8,321 $ 8,933 $ 9,374 $ 9,408 Basic earnings per common share * $ 0.49 $ 0.53 $ 0.56 $ 0.56 Diluted earnings per common share * $ 0.49 $ 0.52 $ 0.55 $ 0.55 Dividend declared $ 0.20 $ 0.20 $ 0.21 $ 0.21 2015 (dollars in thousands, except per share data) 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Interest income $ 26,754 $ 26,993 $ 27,029 $ 27,766 Interest expense 1,959 1,923 2,196 2,337 Net interest income 24,795 25,070 24,833 25,429 Provision for loan and lease losses 569 850 1,200 1,777 Other income 14,765 14,177 13,350 13,668 Other expense 27,429 25,982 25,403 46,951 Income (loss) before income taxes 11,562 12,415 11,580 (9,631 ) Income taxes 4,068 4,296 4,084 (3,276 ) Net income (loss) $ 7,494 $ 8,119 $ 7,496 $ (6,355 ) Basic earnings (loss) per common share * $ 0.43 $ 0.46 $ 0.43 $ (0.37 ) Diluted earnings per common share * $ 0.42 $ 0.45 $ 0.42 $ (0.37 ) Dividend declared $ 0.19 $ 0.19 $ 0.20 $ 0.20 *Earnings per share is computed independently for each period shown. As a result, the sum of the quarters may . |
Note 28 - Parent Company - Only
Note 28 - Parent Company - Only Financial Statements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Note 28 The condensed financial statements of the Corporation (parent company only) are presented below. These statements should be read in conjunction with the Notes to the Consolidated Financial Statements. A. Condensed Balance Sheets December 31, (dollars in thousands) 2016 2015 Assets: Cash $ 23,663 $ 37,992 Investment securities 400 404 Investments in subsidiaries, as equity in net assets 384,751 354,148 Premises and equipment, net 2,288 2,386 Goodwill 245 245 Other assets 1,435 1,704 Total assets $ 412,782 $ 396,879 Liabilities and shareholders’ equity: Borrowings $ — $ — Subordinated notes 29,532 29,479 Other liabilities 2,123 1,689 Total liabilities $ 31,655 $ 31,168 Common stock, par value $1, authorized 100,000,000 shares issued 21,110,968 shares and 20,931,416 shares as of December 31, 2016 and 2015, respectively, and outstanding 16,939,715 shares and 17,071,523 shares as of December 31, 2016 and 2015, respectively $ 21,111 $ 20,931 Paid-in capital in excess of par value 232,806 228,814 Less common stock in treasury, at cost – 4,171,253 shares and 3,859,893 shares as of December 31, 2016 and 2015, respectively (66,950 ) (58,144 ) Accumulated other comprehensive loss, net of deferred income taxes benefit (2,409 ) (412 ) Retained earnings 196,569 174,522 Total shareholders’ equity $ 381,127 $ 365,711 Total liabilities and shareholders’ equity $ 412,782 $ 396,879 B. Condensed Statements of Income Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Dividends from subsidiaries $ 17,718 $ 34,234 $ 12,160 Interest and other income 2,714 2,128 2,156 Total operating income 20,432 36,362 14,316 Expenses 2,443 2,140 1,849 Income before equity in undistributed income of subsidiaries 17,989 34,222 12,467 Equity in undistributed income of subsidiaries 17,600 (17,427 ) 15,480 Income before income taxes 35,589 16,795 27,947 Income tax (benefit) expense (447 ) 41 104 Net income $ 36,036 $ 16,754 $ 27,843 C. Condensed Statements of Cash Flows Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Operating activities: Net Income $ 36,036 $ 16,754 $ 27,843 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiaries (17,600 ) 17,427 (15,480 ) Depreciation and amortization 151 121 98 Stock-based compensation cost 1,713 1,441 1,256 Other, net 1,000 508 485 Net cash provided by operating activities 21,300 36,251 14,202 Investing Activities: Investment in subsidiaries (15,000 ) — — Proceeds from sale investments — 16 — Acquisitions, net of cash acquired — 128 — Net cash (used in) provid ed by investing activities (15,000 ) 144 — Financing activities: Dividends paid (13,961 ) (13,837 ) (10,189 ) Change in other borrowings — — (7,050 ) Proceeds from issuance of subordinated notes — 29,456 — Net (purchase of) proceeds from sale of treasury stock for deferred compensation plans (133 ) (128 ) 79 Net purchase of treasury stock through publicly announced plans (7,971 ) (26,418 ) (947 ) Proceeds from issuance of common stock — 20 72 Payment of contingent consideration for business combinations — — — Excess tax benefit from stock-based compensation — 783 831 Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation (745 ) — — Proceeds from exercise of stock options 2,181 6,452 2,836 Net cash used by financing activities (20,629 ) (3,672 ) (14,368 ) Change in cash and cash equivalents (14,329 ) 32,723 (166 ) Cash and cash equivalents at beginning of period 37,992 5,269 5,435 Cash and cash equivalents at end of period $ 23,663 $ 37,992 $ 5,269 |
Note 29 - Segment Information
Note 29 - Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 2 9 - Segment Information FASB Codification 280 The Corporation’s Banking segment consists of commercial and retail banking. The Banking segment is evaluated as a single strategic unit which generates revenues from a variety of products and services. The Banking segment generates interest income from its lending (including leases) and investing activities and is dependent on the gathering of lower cost deposits from its branch network or borrowed funds from other sources for funding its loans, resulting in the generation of net interest income. The Banking segment also derives revenues from other sources including gains on the sale in available for sale investment securities, gains on the sale of residential mortgage loans, service charges on deposit accounts, cash sweep fees, overdraft fees, BOLI income and interchange revenue associated with its Visa Check Card offering. The Wealth Management segment has responsibility for a number of activities within the Corporation, including trust administration, other related fiduciary services, custody, investment management and advisory services, employee benefits and IRA administration, estate settlement, tax services and brokerage. Bryn Mawr Trust of Delaware and Lau Associates are included in the Wealth Management segment of the Corporation since they have similar economic characteristics, products and services to those of the Wealth Management Division of the Corporation. In addition, with the October 1, 2014 April 1, 2015 The accounting policies of the Corporation are applied by segment in the following tables. The segments are presented on a pre-tax basis. The following table details the Corporation’s segments: As of or for the Twelve Months Ended December 31, 2016 2015 2014 (dollars in thousands) Banking Wealth Management Consolidated Banking Wealth Management Consolidated Banking Wealth Management Consolidated Net interest income $ 106,233 $ 3 $ 106,236 $ 100,124 $ 3 $ 100,127 $ 76,825 $ 3 $ 76,828 Less: loan loss provision 4,326 — 4,326 4,396 — 4,396 884 — 884 Net interest income after loan loss provision 101,907 3 101,910 95,728 3 95,731 75,941 3 75,944 Other income: Fees for wealth management services — 36,690 36,690 — 36,894 36,894 — 36,774 36,774 Service charges on deposit accounts 2,791 — 2,791 2,927 — 2,927 2,578 — 2,578 Loan servicing and other fees 1,939 — 1,939 2,087 — 2,087 1,755 — 1,755 Net gain on sale of loans 3,119 — 3,119 3,022 — 3,022 1,772 — 1,772 Net gain (loss) on sale of available for sale securities (77 ) — (77 ) 931 — 931 471 — 471 ) Net gain (loss) on sale of other real estate owned (76 ) — (76 ) 123 — 123 175 — 175 ) Insurance commissions — 3,722 3,722 — 3,745 3,745 — 1,210 1,210 Other operating income 5,773 158 5,931 6,082 149 6,231 3,419 168 3,587 Total other income 13,469 40,570 54,039 15,172 40,788 55,960 10,170 38,152 48,322 Other expenses: Salaries & wages 32,321 15,090 47,411 30,391 14,184 44,575 24,612 12,501 37,113 Employee benefits 6,257 3,291 9,548 7,298 2,907 10,205 4,306 3,034 7,340 Loss on pension plan settlement — — — 17,377 — 17,377 — — — Occupancy and bank premises 8,005 1,606 9,611 8,662 1,643 10,305 5,753 1,552 7,305 Amortization of other intangible assets 872 2,626 3,498 1,172 2,655 3,827 276 2,383 2,659 Professional fees 3,516 143 3,659 3,227 126 3,353 2,923 94 3,017 Other operating expenses 24,183 3,835 28,018 32,150 3,973 36,123 20,457 3,527 23,984 Total other expenses 75,154 26,591 101,745 100,277 25,488 125,765 58,327 23,091 81,418 Segment profit 40,222 13,982 54,204 10,623 15,303 25,926 27,784 15,064 42,848 Intersegment (revenues) expenses* (396 ) 396 — (422 ) 422 — (372 ) 372 — Pre-tax segment profit after eliminations $ 39,826 $ 14,378 $ 54,204 $ 10,201 $ 15,725 $ 25,926 $ 27,412 $ 15,436 $ 42,848 % of segment pre-tax profit after eliminations 73.5 % 26.5 % 100.0 % 39.3 % 60.7 % 100.0 % 64.0 % 36.0 % 100.0 % Segment assets (dollars in millions) $ 3,377.1 $ 44.4 $ 3,421.5 $ 2,983.2 $ 47.8 $ 3,031.0 $ 2,197.8 $ 48.7 $ 2,246.5 ● Intersegment revenues consist of rental payments, deposit interest and management fees. Other segment information: Wealth Management Segment Information (dollars in millions) December 31, 2016 December 31, 2015 Assets under management, administration, supervision and brokerage $ 11,328.5 $ 8,364.8 |
Note 30 - Subsequent Events
Note 30 - Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 30 – S ubsequent Events On January 30, 2017, $127.7 $602 $630 December 31, 2016 eighth third 2017. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Nature of Business [Policy Text Block] | A. Nature of Business The Bryn Mawr Trust Company (the “Bank”) received its Pennsylvania banking charter in 1889 1986, January 2, 1987, 25 eight one five On January 30, 2017, $127.7 $602 $630 December 31, 2016 eighth third 2017. On April 1, 2015, $1.0 $500 $85 first $100 second 2016 four $100 March 31, 2017, March 31, 2018, March 31, 2019, March 31, 2020, On January 1, 2015, $125.1 3,878,383 $2.3 $1.3 $424.7 $181.8 $481.7 ten On October 1, 2014, $7.0 $5.4 first two three $542 fourth 2015 2016. $542 one $542 The Corporation operates in a highly competitive market area that includes local, national and regional banks as competitors along with savings banks, credit unions, insurance companies, trust companies, registered investment advisors and mutual fund families. The Corporation and its subsidiaries are regulated by many regulatory agencies including the Securities and Exchange Commission (“SEC”), Federal Deposit Insurance Corporation (“FDIC”), the Federal Reserve and the Pennsylvania Department of Banking. |
Basis of Accounting, Policy [Policy Text Block] | B. Basis of Presentation The accounting policies of the Corporation conform to U.S. generally accepted accounting principles (“GAAP”). The Consolidated Financial Statements include the accounts of the Corporation and its wholly owned subsidiaries. The Corporation’s consolidated financial condition and results of operations consist almost entirely of the Bank’s financial condition and results of operations. All inter-company transactions and balances have been eliminated. In preparing the Consolidated Financial Statements, the Corporation is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the dates of the balance sheets, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Although our current estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that in 2017, |
Cash and Cash Equivalents, Policy [Policy Text Block] | C. Cash and Cash Equivalents Cash and cash equivalents include cash, interest-bearing and non-interest bearing amounts due from banks, and federal funds sold. Cash balances required to meet regulatory reserve requirements of the Federal Reserve Board amounted to $10.4 $11.7 December 31, 2016 December 31, 2015, |
Investment Securities, Policy [Policy Text Block] | D. Investment Securities Investment securities which are held for indefinite periods of time, which the Corporation intends to use as part of its asset/liability strategy, or which may The Corporation follows ASC 370 10 65 1 2016, 2015 2014. Investments for which the Corporation has the intent and ability to hold until maturity are classified as held-to-maturity and are carried at their amortized cost on the balance sheet. No adjustment for market value fluctuations are recorded related to the held to maturity portfolio. Investment securities held in trading accounts consist solely of deferred compensation trust accounts which are invested in listed mutual funds whose diversification is at the discretion of the deferred compensation plan participants. Investment securities held in trading accounts are reported at fair value, with adjustments in fair value reported through income. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | E. Loans Held for Sale Mortgage loans originated and intended for sale in the secondary |
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | F. Portfolio Loans and Leases The Corporation originates construction, commercial and industrial, commercial mortgage, residential mortgage, home equity and consumer loans to customers primarily in southeastern Pennsylvania as well as small-ticket equipment leases to customers nationwide. Although the Corporation has a diversified loan and lease portfolio, its debtors’ ability to honor their contracts is substantially dependent upon the real estate and general economic conditions of the region. Loans and leases that the Corporation has the intention and ability to hold for the foreseeable future or until maturity or pay-off, generally are reported at their outstanding principal balance adjusted for charge-offs, the allowance for loan and lease losses and any deferred fees or costs on originated loans and leases. Interest income is accrued on the unpaid principal balance. Loan and lease origination fees and loan and lease origination costs are deferred and recognized as an adjustment to the related yield using the interest method. The accrual of interest on loans and leases is generally discontinued at the time the loan is 90 120 six Certain loans which have reached maturity and have been approved for extension or renewal, but for which all required documents have not been fully executed as of the reporting date, are classified as Administratively Delinquent and are not considered to be delinquent. These loans are reported as current in all disclosures. Loans acquired in mergers are recorded at their fair values. The difference between the recorded fair value and the principal value is accreted to interest income over the contractual lives of the loans in accordance with ASC 310 20. 310 30, H |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | G. Allowance for Loan and Lease Losses The allowance for loan and lease losses (the “Allowance”) is established through a provision for loan and lease losses (the “Provision”) charged as an expense. The principal balances of loans and leases are charged against the Allowance when the Corporation believes that the principal is uncollectible. The Allowance is maintained at a level that the Corporation believes is sufficient to absorb estimated potential credit losses. The Corporation’s determination of the adequacy of the Allowance is based on guidance provided in ASC 450 310 December 31, 2016, five December 31, 2016, two one As part of the process of calculating the Allowance for the different segments of the loan and lease portfolio, the Corporation considers certain credit quality indicators. For the commercial mortgage, construction and commercial and industrial loan segments, periodic reviews of the individual loans are performed by both in-house staff as well as external third The evaluation process also considers the impact of competition, current and expected economic conditions, national and international events, the regulatory and legislative environment and inherent risks in the loan and lease portfolio. All of these factors may may may |
Impaired Financing Receivable, Policy [Policy Text Block] | H. Impaired Loans and Leases A loan or lease is considered impaired when, based on current information, it is probable that the Corporation will be unable to collect the contractually scheduled payments of principal or interest. When assessing impairment, the Corporation considers various factors, which include payment status, realizable value of collateral and the probability of collecting scheduled principal and interest payments when due. Loans and leases that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. The Corporation determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. For loans that indicate possible signs of impairment, which in most cases is based on the performance/non-performance status of the loan, an impairment analysis is conducted based on guidance provided by ASC 310 10. In addition to originating loans, the Corporation occasionally acquires loans through mergers or loan purchase transactions. Some of these acquired loans may may 310 30. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | I. Troubled Debt Restructurings (“TDR”s) A TDR occurs when a creditor, for economic or legal reasons related to a borrower’s financial difficulties, modifies the original terms of a loan or lease or grants a concession to the borrower that it would not otherwise have granted. A concession may may |
Other Real Estate Owned [Policy Text Block] | J. Other Real Estate Owned (“OREO”) OREO consists of assets that the Corporation has acquired through foreclosure, by accepting a deed in lieu of foreclosure, or by taking possession of assets that were used as loan collateral. The Corporation reports OREO on the balance sheet as part of other assets, at the lower of cost or fair value less cost to sell, adjusted periodically based on current appraisals. Costs relating to the development or improvement of assets, as well as the costs required to obtain legal title to the property, are capitalized, while costs related to holding the property are charged to expense as incurred. |
Other Investments [Policy Text Block] | K. Other Investments and E quity S tocks W ithout a R eadily D eterminable F air V alue Other investments include Community Reinvestment Act (“CRA”) investments and equity stocks without a readily determinable fair value. The Corporation’s investments in equity stocks include those issued by the Federal Home Loan Bank of Pittsburgh (“FHLB”), the Federal Reserve Bank (“FRB”) and Atlantic Central Bankers Bank. The Corporation is required to hold FHLB stock as a condition of its borrowing funds from the FHLB. As of December 31, 2016, $17.3 December 31, 2016, $6.9 10 |
Property, Plant and Equipment, Policy [Policy Text Block] | L. Premises and Equipment Premises and equipment are stated at cost, less accumulated depreciation. Depreciation and predetermined rent are recorded using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the expected lease term or the estimated useful lives, whichever is shorter. |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | M. Pension and Postretirement Benefit Plan As of December 31, 2016, two 16 December 31, 2015, December 31, 2015. |
Bank Owned Life Insurance [Policy Text Block] | N. Bank Owned Life Insurance (“BOLI”) BOLI is recorded at its cash surrender value. Income from BOLI is tax-exempt and included as a component of non-interest income. |
Derivatives, Policy [Policy Text Block] | O. Derivative Financial Instruments The Corporation recognizes all derivative financial instruments on its balance sheet at fair value. Derivatives that are not hedges must be adjusted to fair value through income. If a derivative has qualified as a hedge, depending on the nature of the hedge, changes in the fair value of the derivative are either offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value is recognized in earnings immediately. To determine fair value, the Corporation uses valuations obtained from a third third The Corporation may December 2012, $15 $15 November 30, 2015, |
Compensation Related Costs, Policy [Policy Text Block] | P. Accounting for Stock-Based Compensation Stock-based compensation cost is measured at the grant date, based on the fair value of the award and is recognized as an expense over the vesting period. All share-based payments, including grants of stock options, restricted stock awards and performance-based stock awards, are recognized as compensation expense in the statement of income at their fair value. The fair value of stock option grants is determined using the Black-Scholes pricing model which considers the expected life of the options, the volatility of stock price, risk-free interest rate and annual dividend yield. The fair value of the restricted stock awards and performance-based awards whose performance is measured based on an internally produced metric is based on their closing price on the grant date, while the fair value of the performance-based stock awards which use an external measure, such as total stockholder return, is based on their grant-date fair value adjusted for the likelihood of attaining certain pre-determined performance goals and is calculated by utilizing a Monte Carlo Simulation model. |
Earnings Per Share, Policy [Policy Text Block] | Q. Earnings p er Common Share Basic earnings per common share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average common shares outstanding during the period. Diluted earnings per common share takes into account the potential dilution that would occur if in-the-money stock options were exercised and converted into common shares and restricted stock awards and performance-based stock awards were vested. Proceeds assumed to have been received on options exercises are assumed to be used to purchase shares of the Corporation’s common stock at the average market price during the period, as required by the treasury stock method of accounting. The effects of stock options are excluded from the computation of diluted earnings per share in periods in which the effect would be antidilutive. |
Income Tax, Policy [Policy Text Block] | R. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Corporation recognizes the benefit of a tax position only after determining that the Corporation would more-likely-than-not sustain the position following an examination. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 |
Revenue Recognition, Policy [Policy Text Block] | S. Revenue Recognition With the exception of nonaccrual loans and leases, the Corporation recognizes all sources of income on the accrual method. Additional information relating to wealth management fee revenue recognition follows: The Corporation earns wealth management fee revenue from a variety of sources including fees from trust administration and other related fiduciary services, custody, investment management and advisory services, employee benefit account and IRA administration, estate settlement, tax service fees, shareholder service fees and brokerage. These fees are generally based on asset values and fluctuate with the market. Some revenue is not directly tied to asset value but is based on a flat fee for services provided. For many of our revenue sources, amounts are not received in the same accounting period in which they are earned. However, each source of wealth management fees is recorded on the accrual method of accounting. The most significant portion of the Corporation’s wealth management fees is derived from trust administration and other related services, custody, investment management and advisory services, and employee benefit account and IRA administration. These fees are generally billed monthly, in arrears, based on the market value of assets at the end of the previous billing period. A smaller number of customers are billed in a similar manner, but on a quarterly or annual basis and some revenues are not based on market values. The balance of the Corporation’s wealth management fees includes estate settlement fees and tax service fees, which are recorded when the related service is performed and asset management and brokerage fees on non-depository investment products, which are received one Included in other assets on the balance sheet is a receivable for wealth management fees that have been earned but not yet collected. Insurance revenue is primarily related to commissions earned on insurance policies and is recognized over the related policy coverage period. |
Mortgage Servicing Rights [Policy Text Block] | T. Mortgage Servicing A portion of the residential mortgage loans originated by the Corporation is sold to third An intangible asset, referred to as mortgage servicing rights (“MSR”s) is recognized when a loan’s servicing rights are retained upon sale of a loan. These MSRs amortize to non-interest expense in proportion to, and over the period of, the estimated future net servicing life of the underlying loans. MSRs are evaluated quarterly for impairment based upon the fair value of the rights as compared to their amortized cost. Impairment is determined by stratifying the MSRs by predominant characteristics, such as interest rate and terms. Fair value is determined based upon discounted cash flows using market-based assumptions. Impairment is recognized on the income statement to the extent the fair value is less than the capitalized amount for the stratum. A valuation allowance is utilized to record temporary impairment in MSRs. Temporary impairment is defined as impairment that is not deemed permanent. Permanent impairment is recorded as a reduction of the MSR and is not reversed. |
Statement of Cash Flows [Policy Text Block] | U. Statement of Cash Flows The Corporation’s statement of cash flows details operating, investing and financing activities during the reported periods. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | V. Goodwill and Intangible Assets The Corporation accounts for goodwill and other intangible assets in accordance with ASC 350, December 31, 2016, 1 October 31, October 31, 2016, December 31. 2016, December 31st October 31st. three December 31, 2016, may The Corporation’s impairment testing methodology is consistent with the methodology prescribed in ASC 350. |
Reclassification, Policy [Policy Text Block] | W. Reclassifications Certain prior year amounts have been reclassified to conform to the current year’s presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | X. Recent Accounting Pronouncements The following recent accounting pronouncements are divided into pronouncements which have been adopted by the Corporation and those which are not yet effective and have been evaluated or are currently being evaluated by the Corporation as of December 31, 2016. Adopted Pronouncements: FASB ASU 2014 15 , “ Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern ” Issued on August 15, 2014, 2014 15 first December 15, 2016, December 31, 2016, 2014 15 FASB ASU 2016 09 718), In March 2016, 2016 09, (1) (2) (3) December 15, 2016. 2016 09 three September 30, 2016. $565 twelve December 31, 2016. 2016 09 2016 09, Pronouncements Not Yet Effective : FASB ASU No. 2014 0 9 (Topic 606), “ Revenue from Contracts with Customers ” Issued in May 2014, 2014 09 five August 2015, 2015 14, 606): 2014 09 one March 2016, 2016 08, 2016 20, 606, 2016 12, 606. December 15, 2017, December 15, 2016. FASB ASU 2017 04 350), Issued in January 2017, 2017 04 2 2 2017 04 December 15, 2019 2017 04 FASB ASU 2017 01 805), Issued in January 2017, 2017 01 2017 01 December 15, 2017 2017 01 FASB ASU 2016 1 5 (Topic 32 0 ), “ Classification of Certain Cash Receipts and Cash Payments ” Issued in August 2016, 2016 15 eight zero 2016 15 December 15, 2017, FASB ASU 2016 13 326), Issued in June 2016, 2016 13 2016 13 December 15, 2018, 2016 02 FASB ASU 2016 02 842), Issued in February 2016, 2016 02 2016 02 first December 15, 2018, 2016 02 FASB ASU 2016 01 825 10), Issued in January 2016, 2016 01 may 2016 01 December 15, 2017, may 2016 02 |
Note 2 - Business Combinations
Note 2 - Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | (dollars in thousands) Original Estimates Adjustments to Estimates Final Valuation Consideration paid: Cash paid at closing $ 500 $ — $ 500 Contingent payment liability 500 — 500 Value of consideration 1,000 — 1,000 Assets acquired: Cash operating accounts 20 — 20 Intangible assets – trade name 129 (129 ) — Intangible assets – customer relationships 424 — 424 Intangible assets – non-competition agreements 257 — 257 Other assets 4 — 4 Total assets 834 (129 ) 705 Liabilities assumed: Deferred tax liability 336 (45 ) 291 Other liabilities 46 — 46 Total liabilities 382 (45 ) 337 Net assets acquired 452 (84 ) 368 Goodwill resulting from acquisition of RJM $ 548 $ 84 $ 632 (dollars in thousands) Original Estimates Adjustments to Estimates Final Valuation Consideration paid: Common shares issued (3,878,304) $ 121,391 $ — $ 121,391 Cash in lieu of fractional shares 2 — 2 Cash-out of certain warrants 1,323 — 1,323 Fair value of options assumed 2,343 — 2,343 Value of consideration 125,059 — 125,059 Assets acquired: Cash and due from banks 17,934 — 17,934 Investment securities available for sale 181,838 — 181,838 Loans* 426,601 (1,864 ) 424,737 Premises and equipment 9,037 — 9,037 Deferred income taxes 6,288 1,396 7,684 Bank-owned life insurance 12,054 — 12,054 Core deposit intangible 4,191 — 4,191 Favorable lease asset 792 (68 ) 724 Other assets 18,085 (111 ) 17,974 Total assets 676,820 (647 ) 676,173 Liabilities assumed: Deposits 481,674 — 481,674 FHLB and other long-term borrowings 19,726 — 19,726 Short-term borrowings 108,609 — 108,609 Unfavorable lease liability 2,884 — 2,884 Other liabilities 4,706 1,867 6,573 Total liabilities 617,599 1,867 619,466 Net assets acquired 59,221 (2,514 ) 56,707 Goodwill resulting from the CBH Merger $ 65,838 $ 2,514 $ 68,352 (dollars in thousands) Consideration paid: Cash paid at closing $ 5,399 Contingent payment disbursed 542 Contingent payment liability 1,083 Value of consideration 7,024 Assets acquired: Cash operating accounts 1,274 Other investments 302 Premises and equipment 100 Intangible assets – customer relationships 3,280 Intangible assets – non-competition agreements 1,580 Intangible assets – trade name 955 Other assets 850 Total assets 8,341 Liabilities assumed: Deferred tax liability 2,437 Other liabilities 1,818 Total liabilities 4,255 Net assets acquired 4,086 Goodwill resulting from acquisition of PCPB $ 2,938 |
Business Acquisition, Pro Forma Information [Table Text Block] | Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Net interest income $ 106,236 $ 100,127 $ 100,609 Provision for loan and lease losses 4,326 4,396 2,041 Net interest income after provision for loan and lease losses 101,910 95,731 98,568 Non-interest income 54,039 55,960 51,836 Non-interest expense 101,745 125,765 100,011 Income before income taxes 54,204 25,926 50,393 Income tax expense 18,168 9,172 17,673 Net income $ 36,036 $ 16,754 $ 32,720 Per share data*: Weighted-average basic shares outstanding 16,859,623 17,488,325 17,444,543 Dilutive shares 168,499 267,996 373,384 Adjusted weighted-average diluted shares 17,028,122 17,756,321 17,817,927 Basic earnings per common share $ 2.14 $ 0.96 $ 1.88 Diluted earnings per common share $ 2.12 $ 0.94 $ 1.84 |
Business Combination Integration Related Costs [Table Text Block] | Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Advertising $ — $ 162 $ 10 Employee benefits — 258 23 Furniture, fixtures and equipment — 159 9 Information technology — 1,168 44 Professional fees — 2,471 1,340 Salaries and wages — 1,868 346 Other — 584 601 Total due diligence and merger-related expenses $ — $ 6,670 $ 2,373 |
Note 3 - Goodwill and Other I42
Note 3 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | (dollars in thousands) Beginning Balance 12/31/1 5 Additions/ Adjustments Amortization Ending Balance 12/31/1 6 Initial Amortization Goodwill – Wealth reporting unit $ 20,412 $ — $ — $ 20,412 Indefinite Goodwill – Banking reporting unit 80,783 — — 80,783 Indefinite Goodwill – Insurance reporting unit 3,570 — — 3,570 Indefinite Total $ 104,765 $ — $ — $ 104,765 Core deposit intangible $ 4,272 $ — (825 ) $ 3,447 10 years Customer relationships 14,384 — (1,328 ) 13,056 10 to 20 years Non-compete agreements 2,932 — (1,298 ) 1,634 5 to 10 years Trade name 2,165 — — 2,165 Indefinite Favorable lease asset 150 — (47 ) 103 17 to 75 months Total $ 23,903 $ — (3,498 ) $ 20,405 Grand total $ 128,668 $ — (3,498 ) $ 125,170 (dollars in thousands) Beginning Balance 12/31/1 4 Additions/ Adjustments Amortization / Impairment Ending Balance 12/31/1 5 Amortization Goodwill – Wealth reporting unit $ 20,412 $ — $ — $ 20,412 Indefinite Goodwill – Banking reporting unit 12,431 68,352 — 80,783 Indefinite Goodwill – Insurance reporting unit 2,938 632 — 3,570 Indefinite Total $ 35,781 $ 68,984 $ — $ 104,765 Core deposit intangible $ 1,066 $ 4,191 $ (985 ) $ 4,272 10 years Customer relationships 15,562 424 (1,602 ) 14,384 10 to 20 years Non-compete agreements 3,728 257 (1,053 ) 2,932 5 to 10 years Trade name 2,165 — — 2,165 Indefinite Favorable lease asset — 724 (574 ) 150 17 to 75 months Total $ 22,521 $ 5,596 $ (4,214 ) $ 23,903 Grand total $ 58,302 $ 74,580 $ (4,214 ) $ 128,668 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Available-for-sale Securities [Table Text Block] | (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 200,094 $ 3 $ — $ 200,097 Obligations of the U.S. government and agencies 83,111 167 (1,080 ) 82,198 Obligations of state and political subdivisions 33,625 26 (121 ) 33,530 Mortgage-backed securities 185,997 1,260 (1,306 ) 185,951 Collateralized mortgage obligations 49,488 108 (902 ) 48,694 Other investments 16,575 105 (154 ) 16,526 Total $ 568,890 $ 1,669 $ (3,563 ) $ 566,996 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 101 $ — $ (1 ) $ 100 Obligations of the U.S. government and agencies 101,342 470 (317 ) 101,495 Obligations of state and political subdivisions 41,892 123 (49 ) 41,966 Mortgage-backed securities 157,422 1,482 (215 ) 158,689 Collateralized mortgage obligations 29,756 166 (123 ) 29,799 Other investments 17,263 38 (384 ) 16,917 Total $ 347,776 $ 2,279 $ (1,089 ) $ 348,966 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 12 Months Total (dollars in thousands) Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses Obligations of the U.S. government and agencies $ 62,211 $ (1,080 ) $ — $ — $ 62,211 $ (1,080 ) Obligations of state and political subdivisions 24,482 (121 ) — — 24,482 (121 ) Mortgage-backed securities 101,433 (1,306 ) — — 101,433 (1,306 ) Collateralized mortgage obligations 35,959 (902 ) — — 35,959 (902 ) Other investments 2,203 (93 ) 11,895 (61 ) 14,098 (154 ) Total $ 226,288 $ (3,502 ) $ 11,895 $ (61 ) $ 238,183 $ (3,563 ) Less than 12 12 Months Total (dollars in thousands) Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses U.S. Treasury securities $ 100 $ (1 ) $ — $ — $ 100 $ (1 ) Obligations of the U.S. government and agencies 49,759 (317 ) — — 49,759 (317 ) Obligations of state and political subdivisions 18,725 (46 ) 2,016 (3 ) 20,741 (49 ) Mortgage-backed securities 55,763 (215 ) — — 55,763 (215 ) Collateralized mortgage obligations 6,407 (85 ) 2,436 (38 ) 8,843 (123 ) Other investments 3,945 (238 ) 11,810 (146 ) 15,755 (384 ) Total $ 134,699 $ (902 ) $ 16,262 $ (187 ) $ 150,961 $ (1,089 ) |
Held-to-maturity Securities [Table Text Block] | (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mortgage-backed securities $ 2,879 $ — $ (61 ) $ 2,818 Total $ 2,879 $ — $ (61 ) $ 2,818 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 12 Months Total (dollars in thousands) Fair Unrealized Losses Fair Unrealized Losses Fair Unrealized Losses Mortgage-backed securities $ 2,818 $ (61 ) $ — $ — $ 2,818 $ (61 ) Total $ 2,818 $ (61 ) $ — $ — $ 2,818 $ (61 ) |
Held-to-maturity Securities [Member] | |
Notes Tables | |
Investments Classified by Contractual Maturity Date [Table Text Block] | Dec ember 3 1 , 2016 (dollars in thousands) Amortized Cost Fair Value Mortgage-related securities 1 2,879 2,818 Total $ 2,879 $ 2,818 |
Available-for-sale Securities [Member] | |
Notes Tables | |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 201 6 (dollars in thousands) Amortized Cost Fair Value Investment securities*: Due in one year or less $ 213,876 $ 213,885 Due after one year through five years 40,335 40,270 Due after five years through ten years 45,840 44,914 Due after ten years 18,079 18,055 Subtotal 318,130 317,124 Mortgage-related securities 235,485 234,644 Total $ 553,615 $ 551,768 December 31, 2015 (dollars in thousands) Amortized Cost Fair Value Investment securities*: Due in one year or less $ 9,570 $ 9,574 Due after one year through five years 61,368 61,467 Due after five years through ten years 53,193 53,070 Due after ten years 20,904 21,141 Subtotal 145,035 145,252 Mortgage-related securities 187,178 188,488 Total $ 332,213 $ 333,740 |
Note 5 - Loans and Leases (Tabl
Note 5 - Loans and Leases (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31 , 201 6 December 31, 2015 Loans held for sale $ 9,621 $ 8,987 Real estate loans: Commercial mortgage $ 1,110,898 $ 964,259 Home equity lines and loans 207,999 209,473 Residential mortgage 413,540 406,404 Construction 141,964 90,421 Total real estate loans 1,874,401 1,670,557 Commercial and industrial 579,791 524,515 Consumer 25,341 22,129 Leases 55,892 51,787 Total portfolio loans and leases 2,535,425 2,268,988 Total loans and leases $ 2,545,046 $ 2,277,975 Loans with fixed rates $ 1,130,172 $ 1,103,622 Loans with adjustable or floating rates 1,414,874 1,174,353 Total loans and leases $ 2,545,046 $ 2,277,975 Net deferred loan origination fees included in the above loan table $ (735 ) $ (70 ) December 31 , 201 6 December 31, 2015 Loans held for sale $ 9,621 $ 8,987 Real estate loans: Commercial mortgage $ 946,879 $ 772,571 Home equity lines and loans 178,450 171,189 Residential mortgage 342,268 316,487 Construction 141,964 87,155 Total real estate loans 1,609,561 1,347,402 Commercial and industrial 550,334 462,746 Consumer 25,200 21,934 Leases 55,892 51,787 Total portfolio loans and leases 2,240,987 1,883,869 Total loans and leases $ 2,250,608 $ 1,892,856 Loans with fixed rates $ 992,917 $ 932,575 Loans with adjustable or floating rates 1,257,691 960,281 Total originated loans and leases $ 2,250,608 $ 1,892,856 Net deferred loan origination fees included in the above loan table (735 ) (70 ) December 31 , 201 6 December 31, 201 5 Real estate loans: Commercial mortgage $ 164,019 $ 191,688 Home equity lines and loans 29,549 38,284 Residential mortgage 71,272 89,917 Construction — 3,266 Total real estate loans 264,840 323,155 Commercial and industrial 29,457 61,769 Consumer 141 195 Total portfolio loans and leases 294,438 385,119 Total loans and leases $ 294,438 $ 385,119 Loans with fixed rates $ 137,255 $ 171,047 Loans with adjustable or floating rates 157,183 214,072 Total acquired loans and leases $ 294,438 $ 385,119 |
Schedule of Components of Leveraged Lease Investments [Table Text Block] | (dollars in thousands) December 31 , 201 6 December 31, 201 5 Minimum lease payments receivable $ 62,379 $ 58,422 Unearned lease income (8,608 ) (8,919 ) Initial direct costs and deferred fees 2,121 2,284 Total $ 55,892 $ 51,787 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (dollars in thousands) December 31, 2016 December 31, 201 5 Non-accrual loans and leases Commercial mortgage $ 320 $ 829 Home equity lines and loans 2,289 2,027 Residential mortgage 2,658 3,212 Construction — 34 Commercial and industrial 2,957 4,133 Consumer 2 — Leases 137 9 Total $ 8,363 $ 10,244 (dollars in thousands) December 31 , 201 6 December 31, 201 5 Non-accrual originated loans and leases Commercial mortgage $ 265 $ 279 Home equity lines and loans 2,169 1,788 Residential mortgage 1,654 1,964 Construction — 34 Commercial and industrial 941 3,044 Consumer 2 — Leases 137 9 Total $ 5,168 $ 7,118 (dollars in thousands) December 31 , 201 6 December 31, 201 5 Non-accrual acquired loans and leases Commercial mortgage $ 55 $ 550 Home equity lines and loans 120 239 Residential mortgage 1,004 1,248 Commercial and industrial 2,016 1,089 Total $ 3,195 $ 3,126 |
Schedule of Information Related to Purchased Credit Impaired Loans [Table Text Block] | (dollars in thousands) December 31 , 201 6 December 31, 201 5 Outstanding principal balance $ 18,091 $ 24,879 Carrying amount (1) $ 12,432 $ 16,846 |
Schedule of Changes in Accretable Discount Related to Purchased Credit Impaired Loans [Table Text Block] | (dollars in thousands) Accretable Balance, December 31, 2015 $ 6,115 Accretion (1,858 ) Reclassifications from nonaccretable difference 182 Additions/adjustments 68 Disposals (1,274 ) Balance, December 31, 2016 $ 3,233 |
Past Due Financing Receivables [Table Text Block] | Accruing Loans and Leases (dollars in thousands) As of December 31, 2016 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 666 $ 722 $ — $ 1,388 $ 1,109,190 $ 1,110,578 $ 320 $ 1,110,898 Home equity lines and loans 11 — — 11 205,699 205,710 2,289 207,999 Residential mortgage 823 490 — 1,313 409,569 410,882 2,658 413,540 Construction — — — — 141,964 141,964 — 141,964 Commercial and industrial 36 — — 36 576,798 576,834 2,957 579,791 Consumer 10 5 — 15 25,324 25,339 2 25,341 Leases 177 86 — 263 55,492 55,755 137 55,892 $ 1,723 $ 1,303 $ — $ 3,026 $ 2,524,036 $ 2,527,062 $ 8,363 $ 2,535,425 Accruing Loans and Leases (dollars in thousands) As of December 31, 2015 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 1,126 $ 211 $ — $ 1,337 $ 962,093 $ 963,430 $ 829 $ 964,259 Home equity lines and loans 1,596 15 — 1,611 205,835 207,446 2,027 209,473 Residential mortgage 1,923 74 — 1,997 401,195 403,192 3,212 406,404 Construction — — — — 90,387 90,387 34 90,421 Commercial and industrial 99 39 — 138 520,244 520,382 4,133 524,515 Consumer 20 — — 20 22,109 22,129 — 22,129 Leases 375 123 — 498 51,280 51,778 9 51,787 $ 5,139 $ 462 $ — $ 5,601 $ 2,253,143 $ 2,258,744 $ 10,244 $ 2,268,988 Accruing Loans and Leases (dollars in thousands) As of December 31, 2016 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ — $ 722 $ — $ 722 $ 945,892 $ 946,614 $ 265 $ 946,879 Home equity lines and loans 11 — — 11 176,270 176,281 2,169 178,450 Residential mortgage 773 64 — 837 339,778 340,615 1,653 342,268 Construction — — — — 141,964 141,964 — 141,964 Commercial and industrial — — — — 549,393 549,393 941 550,334 Consumer 10 5 — 15 25,183 25,198 2 25,200 Leases 177 86 — 263 55,492 55,755 137 55,892 $ 971 $ 877 $ — $ 1,848 $ 2,233,972 $ 2,235,820 $ 5,167 $ 2,240,987 Accruing Loans and Leases (dollars in thousands) As of December 31, 2015 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 1,016 $ 155 $ — $ 1,171 $ 771,121 $ 772,292 $ 279 $ 772,571 Home equity lines and loans 1,445 — — 1,445 167,956 169,401 1,788 171,189 Residential mortgage 1,475 9 — 1,484 313,039 314,523 1,964 316,487 Construction — — — — 87,121 87,121 34 87,155 Commercial and industrial — — — — 459,702 459,702 3,044 462,746 Consumer 20 — — 20 21,914 21,934 — 21,934 Leases 375 123 — 498 51,280 51,778 9 51,787 $ 4,331 $ 287 $ — $ 4,618 $ 1,872,133 $ 1,876,751 $ 7,118 $ 1,883,869 Accruing Loans and Leases (dollars in thousands) As of December 31, 2016 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 666 $ — $ — $ 666 $ 163,298 $ 163,964 $ 55 $ 164,019 Home equity lines and loans — — — — 29,429 29,429 120 29,549 Residential mortgage 50 426 — 476 69,791 70,267 1,005 71,272 Construction — — — — — — — — Commercial and industrial 36 — — 36 27,405 27,441 2,016 29,457 Consumer — — — — 141 141 — 141 $ 752 $ 426 $ — $ 1,178 $ 290,064 $ 291,242 $ 3,196 $ 294,438 Accruing Loans and Leases (dollars in thousands) As of December 31, 201 5 30 – 59 Days 60 – 89 Days Over 89 Days Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 110 $ 56 $ — $ 166 $ 190,972 $ 191,138 $ 550 $ 191,688 Home equity lines and loans 151 15 — 166 37,879 38,045 239 38,284 Residential mortgage 448 65 — 513 88,156 88,669 1,248 89,917 Construction — — — — 3,266 3,266 — 3,266 Commercial and industrial 99 39 — 138 60,542 60,680 1,089 61,769 Consumer — — — — 195 195 — 195 $ 808 $ 175 $ — $ 983 $ 381,010 $ 381,993 $ 3,126 $ 385,119 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (dollars in thousands) Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Balance, December 31, 2015 $ 5,199 $ 1,307 $ 1,740 $ 1,324 $ 5,609 $ 142 $ 518 $ 18 $ 15,857 Charge-offs (110 ) (592 ) (306 ) — (1,298 ) (173 ) (808 ) — (3,287 ) Recoveries 62 68 48 64 93 23 232 — 590 Provision for loan and lease losses 1,076 472 435 845 738 161 617 (18 ) 4,326 Balance, December 31, 2016 $ 6,227 1,255 1,917 2,233 5,142 153 559 — 17,486 (dollars in thousands) Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Balance, December 31, 2014 $ 3,948 $ 1,917 $ 1,736 $ 1,367 $ 4,533 $ 238 $ 468 $ 379 $ 14,586 Charge-offs (50 ) (774 ) (791 ) — (1,220 ) (177 ) (442 ) — (3,454 ) Recoveries 27 98 35 4 35 29 101 — 329 Provision for loan and lease losses 1,274 66 760 (47 ) 2,261 52 391 (361 ) 4,396 Balance December 31, 2015 $ 5,199 $ 1,307 $ 1,740 $ 1,324 $ 5,609 $ 142 $ 518 $ 18 $ 15,857 |
Schedule of Allowance for Loan Losses by Portfolio Segment [Table Text Block] | (dollars in thousands) As of December 31, 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 73 $ — $ 5 $ 8 $ — $ — $ 86 Collectively evaluated for impairment 6,227 1,255 1,844 2,233 5,137 145 559 — 17,400 Purchased credit-impaired (1) — — — — — — — — — Total $ 6,227 $ 1,255 $ 1,917 $ 2,233 $ 5,142 $ 153 $ 559 $ — $ 17,486 As of December 31, 201 5 Allowance on loans and leases: Individually evaluated for impairment $ — $ 115 $ 54 $ — $ 519 $ 5 $ — $ — $ 693 Collectively evaluated for impairment 5,199 1,192 1,686 1,324 5,090 137 518 18 15,164 Purchased credit-impaired (1) — — — — — — — — — Total $ 5,199 $ 1,307 $ 1,740 $ 1,324 $ 5,609 $ 142 $ 518 $ 18 $ 15,857 (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 45 $ — $ 5 $ 8 $ — $ — $ 58 Collectively evaluated for impairment 6,227 1,255 1,844 2,233 5,137 145 559 — 17,400 Total $ 6,227 $ 1,255 $ 1,889 $ 2,233 $ 5,142 $ 153 $ 559 $ — $ 17,458 As of December 31, 201 5 Allowance on loans and leases: Individually evaluated for impairment $ — $ 115 $ 54 $ — $ 519 $ 5 $ — $ — $ 693 Collectively evaluated for impairment 5,199 1,192 1,686 1,324 5,090 137 518 18 15,164 Total $ 5,199 $ 1,307 $ 1,740 $ 1,324 $ 5,609 $ 142 $ 518 $ 18 $ 15,857 (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 28 $ — $ — $ — $ — $ — $ 28 Collectively evaluated for impairment — — — — — — — — — Purchased credit-impaired (1) — — — — — — — — — Total $ — $ — $ 28 $ — $ — $ — $ — $ — $ 28 As of December 31, 201 5 Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment — — — — — — — — — Purchased credit-impaired (1) — — — — — — — — — Total $ — $ — $ — $ — $ — $ — $ — $ — $ — |
Loans and Leases Held for Investment by Type [TableText Block] | (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 1,576 $ 2,354 $ 7,266 $ — $ 2,946 $ 31 $ — $ 14,173 Collectively evaluated for impairment 1,098,788 205,540 406,271 141,964 575,055 25,310 55,892 2,508,820 Purchased credit-impaired (1) 10,534 105 3 — 1,790 — — 12,432 Total $ 1,110,898 $ 207,999 $ 413,540 $ 141,964 $ 579,791 $ 25,341 $ 55,892 $ 2,535,425 As of December 31, 201 5 Carrying value of loans and leases: Individually evaluated for impairment $ 349 $ 1,980 $ 7,754 $ 33 $ 4,240 $ 30 $ — $ 14,386 Collectively evaluated for impairment 952,448 207,378 398,635 89,625 515,784 22,099 51,787 2,237,756 Purchased credit-impaired (1) 11,462 115 15 763 4,491 — — 16,846 Total $ 964,259 $ 209,473 $ 406,404 $ 90,421 $ 524,515 $ 22,129 $ 51,787 $ 2,268,988 (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 1,521 $ 2,319 $ 4,111 $ — $ 1,190 $ 31 $ — $ 9,172 Collectively evaluated for impairment 945,358 176,131 338,157 141,964 549,144 25,169 55,892 2,231,815 Total $ 946,879 $ 178,450 $ 342,268 $ 141,964 $ 550,334 $ 25,200 $ 55,892 $ 2,240,987 As of December 31, 201 5 Carrying value of loans and leases: Individually evaluated for impairment $ 279 $ 1,832 $ 4,394 $ 33 $ 3,229 $ 30 $ — $ 9,797 Collectively evaluated for impairment 772,292 169,357 312,093 87,122 459,517 21,904 51,787 1,874,072 Total $ 772,571 $ 171,189 $ 316,487 $ 87,155 $ 462,746 $ 21,934 $ 51,787 $ 1,883,869 (dollars in thousands) As of December 31 , 201 6 Commercial Home Equity Residential Construction Commercial Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 55 35 3,155 — 1,756 — — 5,001 Collectively evaluated for impairment 153,430 29,409 68,114 — 25,911 141 — 277,005 Purchased credit-impaired (1) 10,534 105 3 — 1,790 — — 12,432 Total $ 164,019 29,549 71,272 — 29,457 141 — 294,438 As of December 31, 201 5 Carrying value of loans and leases: Individually evaluated for impairment $ 70 $ 148 $ 3,360 $ — $ 1,011 $ — $ — $ 4,589 Collectively evaluated for impairment 180,156 38,021 86,542 2,503 56,267 195 — 363,684 Purchased credit-impaired (1) 11,462 115 15 763 4,491 — — 16,846 Total $ 191,688 $ 38,284 $ 89,917 $ 3,266 $ 61,769 $ 195 $ — $ 385,119 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Commercial Mortgage Construction Commercial and Industrial Total December 31 , 201 6 December 31, 201 5 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Pass $ 1,099,557 $ 946,887 $ 140,370 $ 88,653 $ 570,342 $ 510,040 $ 1,810,269 $ 1,545,580 Special Mention 1,892 7,029 — — 2,315 1,123 4,207 8,152 Substandard 9,449 10,343 1,594 1,768 5,512 13,352 16,555 25,463 Doubtful — — — — 1,622 — 1,622 — Total $ 1,110,898 $ 964,259 $ 141,964 $ 90,421 $ 579,791 $ 524,515 $ 1,832,653 $ 1,579,195 Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Commercial Mortgage Construction Commercial and Industrial Total December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Pass $ 936,737 $ 758,240 $ 140,370 $ 86,065 $ 544,876 $ 454,454 $ 1,621,983 $ 1,298,759 Special Mention 1,892 7,029 — — 2,279 1,015 4,171 8,044 Substandard 8,250 7,302 1,594 1,090 3,054 7,277 12,898 15,669 Doubtful — — — — 125 — 125 — Total $ 946,879 $ 772,571 $ 141,964 $ 87,155 $ 550,334 $ 462,746 $ 1,639,177 $ 1,322,472 Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Commercial Mortgage Construction Commercial and Industrial Total December 31 , 201 6 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Pass $ 162,820 $ 188,647 $ — $ 2,588 $ 25,466 $ 55,586 $ 188,286 $ 246,821 Special Mention — — — — 36 108 36 108 Substandard 1,199 3,041 — 678 2,458 6,075 3,657 9,794 Doubtful — — — — 1,497 — 1,497 — Total $ 164,019 $ 191,688 $ — $ 3,266 $ 29,457 $ 61,769 $ 193,476 $ 256,723 |
Financing Receivable by Financial Instrument Performance Status [Table Text Block] | Credit Risk Profile by Payment Activity (dollars in thousands) Residential Mortgage Home Equity Lines and Loans Consumer Leases Total December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Performing $ 410,882 $ 403,192 $ 205,710 $ 207,446 $ 25,339 $ 22,129 $ 55,755 $ 51,778 $ 697,686 $ 684,545 Non-performing 2,658 3,212 2,289 2,027 2 — 137 9 5,086 5,248 Total $ 413,540 $ 406,404 $ 207,999 $ 209,473 $ 25,341 $ 22,129 $ 55,892 $ 51,787 $ 702,772 $ 689,793 Credit Risk Profile by Payment Activity (dollars in thousands) Residential Mortgage Home Equity Lines and Loans Consumer Leases Total December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Performing $ 340,615 $ 314,523 $ 176,281 $ 169,401 $ 25,198 $ 21,934 $ 55,755 $ 51,778 $ 597,849 $ 557,636 Non-performing 1,653 1,964 2,169 1,788 2 — 137 9 3,961 3,761 Total $ 342,268 $ 316,487 $ 178,450 $ 171,189 $ 25,200 $ 21,934 $ 55,892 $ 51,787 $ 601,810 $ 561,397 Credit Risk Profile by Payment Activity (dollars in thousands) Residential Mortgage Home Equity Lines and Loans Consumer Total December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Performing $ 70,267 $ 88,669 $ 29,429 $ 38,045 $ 141 $ 195 99,837 $ 126,909 Non-performing 1,005 1,248 120 239 — — 1,125 1,487 Total $ 71,272 $ 89,917 $ 29,549 $ 38,284 $ 141 $ 195 100,962 $ 128,396 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | (dollars in thousands) December 31 , 201 6 December 31, 201 5 TDRs included in nonperforming loans and leases $ 2,632 $ 1,935 TDRs in compliance with modified terms 6,395 4,880 Total TDRs $ 9,027 $ 6,815 |
Troubled Debt Restructurings by Modification [Table Text Block] | For the Twelve Months Ended December 31, 2016 (dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial mortgage 1 $ 1,256 $ 1,256 Residential 2 141 148 Home equity lines and loans 6 265 265 Commercial and industrial 4 1,006 1,006 Leases 3 104 104 Total 16 $ 2,772 $ 2,779 Number of Contracts Interest Rate Change Loan Term Extension Interest Rate Change and Term Extension Interest Rate Change and/or Interest-Only Period Contractual Payment Reduction (Leases only) Temporary Payment Deferral Commercial mortgage — 1 — — — — Residential — — 2 — — — Home equity lines and loans — — — 6 — Commercial and industrial — 3 — — — 1 Leases — — — — 3 — Total — 4 2 6 3 1 For the Twelve Months Ended December 31, 2015 (dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Residential 4 $ 2,181 $ 2,181 Home equity lines and loans 1 22 22 Leases 2 66 66 Total 7 $ 2,269 $ 2,269 Number of Contracts Interest Rate Change Loan Term Extension Interest Rate Change and Term Extension Interest Rate Change and/or Interest-Only Period Contractual Payment Reduction (Leases only) Temporary P ayment Deferral Residential — — 2 2 — — Home equity lines and loans — — — 1 — — Leases — — — — 2 — Total — — 2 3 2 — |
Impaired Financing Receivables [Table Text Block] | (dollars in thousands) As of or for the Twelve Months Ended December 31, 2016 Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized Impaired loans with related allowance: Residential mortgage $ 622 $ 622 $ 73 $ 639 $ 27 $ — Commercial and industrial 84 84 5 103 5 — Consumer 31 31 8 33 2 — Total 737 737 86 775 34 — Impaired loans* without related allowance: Commercial mortgage 1,577 1,577 — 1,583 70 — Home equity lines and loans 2,354 2,778 — 2,833 25 — Residential mortgage 6,644 6,970 — 7,544 276 — Commercial and industrial 2,862 3,692 — 8,362 146 — Total 13,437 15,017 — 20,322 517 — — Grand total $ 14,174 $ 15,754 $ 86 $ 21,097 $ 551 $ — (dollars in thousands) As of or for the Twelve Months Ended December 31, 2015 Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized Impaired loans with related allowance: Home equity lines and loans $ 115 $ 115 $ 115 $ 125 $ 4 $ — Residential mortgage 515 527 54 531 23 — Commercial and industrial 2,011 2,002 519 2,215 49 — Consumer 30 30 5 31 1 — Total 2,671 2,674 693 2,902 77 — Impaired loans* without related allowance: Commercial mortgage 349 358 — 361 9 — Home equity lines and loans 1,865 2,447 — 2,605 46 — Residential mortgage 7,239 8,166 — 8,085 257 — Construction 33 996 — 1,087 — — Commercial and industrial 2,229 3,089 — 4,985 124 — Total 11,715 15,056 — 17,123 436 — — Grand total $ 14,386 $ 17,730 $ 693 $ 20,025 $ 513 $ — (dollars in thousands) As of or for the Twelve Months Ended December 31, 2014 Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized Impaired loans with related allowance: Home equity lines and loans $ 111 $ 198 $ 4 $ 197 $ — $ — Residential mortgage 3,273 3,260 184 3,289 112 — Commercial and industrial 2,069 2,527 448 2,577 49 — Consumer 31 32 32 32 1 — Total 5,484 6,017 668 6,095 162 — Impaired loans* without related allowance: Commercial mortgage 97 97 — 103 4 — Home equity lines and loans 1,044 1,137 — 1,251 12 — Residential mortgage 5,369 5,794 — 6,210 152 — Construction 264 1,225 — 1,427 — — Commercial and industrial 1,391 1,403 — 1,430 11 — Total 8,165 9,656 — 10,421 179 — — Grand total $ 13,649 $ 15,673 $ 668 $ 16,516 $ 341 $ — |
Loans Acquired Record [Table Text Block] | (dollars in thousands) As of December 31, 2016 Outstanding Principal Remaining Loan Mark Recorded Investment Commercial mortgage $ 168,612 $ (4,593 ) $ 164,019 Home equity lines and loans 31,236 (1,687 ) 29,549 Residential mortgage 73,902 (2,630 ) 71,272 Commercial and industrial 32,812 (3,355 ) 29,457 Consumer 163 (22 ) 141 Total $ 306,725 $ (12,287 ) $ 294,438 (dollars in thousands) As of December 31, 2015 Outstanding Principal Remaining Loan Mark Recorded Investment Commercial mortgage $ 197,532 $ (5,844 ) $ 191,688 Home equity lines and loans 40,258 (1,974 ) 38,284 Residential mortgage 93,230 (3,313 ) 89,917 Construction 3,807 (541 ) 3,266 Commercial and industrial 67,181 (5,412 ) 61,769 Consumer 220 (25 ) 195 Total $ 402,228 $ (17,109 ) $ 385,119 |
Note 6 - Other Real Estate Ow45
Note 6 - Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Other Real Estate, Roll Forward [Table Text Block] | December 31, (dollars in thousands) 2016 2015 Balance January 1 $ 2,638 $ 1,147 Additions 355 2,673 Impairments (94 ) (89 ) Sales (1,882 ) (1,093 ) Balance December 31 $ 1,017 $ 2,638 |
Note 7 - Premises and Equipme46
Note 7 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, (dollars in thousands) 2016 2015 Land $ 5,306 $ 5,306 Buildings 24,998 24,820 Furniture and equipment 36,930 34,758 Leasehold improvements 24,713 24,596 Construction in progress 56 500 Less: accumulated depreciation (50,225 ) (44,641 ) Total $ 41,778 $ 45,339 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (dollars in thousands) 2016 $ 4,234 2017 4,166 2018 3,908 2019 3,345 2020 2,721 2021 and thereafter 13,109 Total $ 31,483 |
Note 8 - Mortgage Servicing R47
Note 8 - Mortgage Servicing Rights ("MSR"s) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Mortgage Servicing Rights [Table Text Block] | (dollars in thousands) 2016 2015 2014 Balance, January 1 $ 5,142 $ 4,765 $ 4,750 Additions 1,321 1,037 547 Amortization (750 ) (590 ) (476 ) Impairment (131 ) (70 ) (56 ) Balance, December 31 $ 5,582 $ 5,142 $ 4,765 Fair value $ 6,154 $ 5,726 $ 5,456 Residential mortgage loans serviced for others $ 631,889 $ 601,939 $ 590,660 |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | (dollars in thousands) 2016 2015 2014 Balance, January 1 $ (1,674 ) $ (1,604 ) $ (1,548 ) Impairment (715 ) (123 ) (97 ) Recovery 584 53 41 Balance, December 31 $ (1,805 ) $ (1,674 ) $ (1,604 ) |
Fair Value of Mortgage Servicing Rights [Table Text Block] | (dollars in thousands) Fair value amount of MSRs $ 6,154 Weighted average life (in years) 6.3 Prepayment speeds (constant prepayment rate)* 10.2 % Impact on fair value: 10% adverse change $ (115 ) 20% adverse change $ (238 ) Discount rate 9.55 % Impact on fair value: 10% adverse change $ (225 ) 20% adverse change $ (434 ) |
Note 9 - Deposits (Tables)
Note 9 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Deposits Liabilities [Table Text Block] | As of December 31, (dollars in thousands) 2016 2015 Savings $ 232,193 $ 187,299 NOW accounts* 380,057 339,366 Market rate accounts* 835,296 816,938 Retail time deposits, less than $100 139,276 123,113 Retail time deposits, $100 or more 183,636 106,140 Wholesale time deposits 73,037 53,185 Total interest-bearing deposits 1,843,495 1,626,041 Non-interest-bearing deposits 736,180 626,684 Total deposits $ 2,579,675 $ 2,252,725 |
Schedule of Maturities of Time Deposits [Table Text Block] | As of December 31, 2016 (dollars in thousands) $100 or more Less than $100 Maturing during: 2017 $ 154,965 $ 107,043 2018 16,281 17,152 2019 4,982 8,011 2020 3,044 3,466 2021 and thereafter 4,364 3,604 Total $ 183,636 $ 139,276 |
Schedule of Time Deposit Contractual Maturities [Table Text Block] | As of December 31, 2016 (dollars in thousands) $100 or more Less than $100 Maturing during: 2017 $ 72,783 $ 254 Total $ 72,783 $ 254 |
Note 10 - Short-term Borrowin49
Note 10 - Short-term Borrowings and Long-term FHLB Advances (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | As of December 31, (dollars in thousands) 2016 2015 Repurchase agreements* – commercial customers $ 39,151 $ 29,156 Repurchase agreement – correspondent bank — 5,011 Short-term FHLB advances 165,000 30,000 Overnight federal funds — 30,000 Total short-term borrowings $ 204,151 $ 94,167 |
Schedule of Additional Information on Short Term Borrowings [TableText Block] | As of or Twelve Months Ended December 31, (dollars in thousands) 2016 2015 Balance at period-end $ 204,151 $ 94,167 Maximum amount outstanding at any month end $ 204,151 $ 94,167 Average balance outstanding during the period $ 37,041 $ 36,010 Weighted-average interest rate: As of the period-end 0.66 % 0.56 % Paid during the period 0.25 % 0.13 % |
Schedule of Maturities of Long-term Debt [Table Text Block] | As of December 31, (dollars in thousands) 2016 2015 Within one year $ 75,000 $ 75,000 Over one year through five years 114,742 179,863 Total $ 189,742 $ 254,863 |
Schedule of Federal Home Loan Bank Advances and Other Borrowings Maturities [Table Text Block] | Maturity Range* Weighted Average Coupon Rate Balance at December 31, Description From To Rate From To 2016 2015 Bullet maturity – fixed rate 02/01/17 12/09/20 1.44 % 0.80 % 2.13 % 153,612 198,612 Bullet maturity – variable rate 11/28/17 11/28/17 1.08 % 1.08 % 1.08 % 15,000 35,000 Convertible-fixed 01/03/18 08/20/18 2.94 % 2.58 % 3.50 % 21,130 21,251 Total $ 189,742 $ 254,863 |
Note 12 - Derivatives and Hed50
Note 12 - Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | (dollars in thousands) Notional Amount Trade Date Effective Date Maturity Date Receive (Variable) Index Current Projected Receive Rate Pay Fixed Swap Rate Fair Value of Asset (Liability) $ 15,000 12/13/2012 11/30/2015 11/28/2022 US 3-Month LIBOR 2.335 % 2.376 % $ (39 ) |
Note 13 - Disclosure about Fa51
Note 13 - Disclosure about Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | As of December 31, 2016 2015 (dollars in thousands) Fair Value Hierarchy Level* Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Cash and cash equivalents Level 1 $ 50,765 $ 50,765 $ 143,067 $ 143,067 Investment securities - available for sale See Note 14 566,996 566,996 348,966 348,966 Investment securities - trading See Note 14 3,888 3,888 3,950 3,950 Investment securities – held to maturity Level 2 2,879 2,818 — — Loans held for sale Level 2 9,621 9,621 8,987 8,987 Net portfolio loans and leases Level 3 2,517,939 2,505,546 2,253,131 2,273,947 Mortgage servicing rights Level 3 5,582 6,154 5,142 5,726 Other assets Level 3 34,465 34,465 30,271 30,271 Total financial assets $ 3,192,135 $ 3,180,253 $ 2,793,514 $ 2,814,914 Financial liabilities: Deposits Level 2 $ 2,579,675 $ 2,579,011 $ 2,252,725 $ 2,251,703 Short-term borrowings Level 2 204,151 204,151 94,167 94,156 FHLB advances and other borrowings Level 2 189,742 186,863 254,863 254,796 Subordinated notes Level 2 29,532 29,228 29,479 27,453 Other liabilities Level 2 37,303 37,303 34,052 34,052 Total financial liabilities $ 3,040,403 $ 3,036,556 $ 2,665,286 $ 2,662,160 |
Note 14 - Fair Value Measurem52
Note 14 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | (dollars in millions) Total Level 1 Level 2 Level 3 Investment securities (available for sale and trading): U.S. Treasury securities $ 200.1 $ 200.1 $ — $ — Obligations of U.S. government & agencies 82.2 — 82.2 — Obligations of state & political subdivisions 33.5 — 33.5 — Mortgage-backed securities 188.8 — 188.8 — Collateralized mortgage obligations 48.7 — 48.7 — Mutual funds 19.1 19.1 — — Other debt securities 1.3 — 1.3 — Total assets measured on a recurring basis at fair value $ 573.7 $ 219.2 $ 354.5 $ — (dollars in millions) Total Level 1 Level 2 Level 3 Mortgage servicing rights $ 6.2 $ — $ — $ 6.2 Impaired loans and leases 14.3 — — 14.3 OREO 1.0 — — 1.0 Total assets measured at fair value on a non-recurring basis $ 21.5 $ — $ — $ 21.5 (dollars in millions) Total Level 1 Level 2 Level 3 Investment securities (available for sale and trading): U.S. Treasury securities $ 0.1 $ 0.1 $ — $ — Obligations of U.S. government & agencies 101.5 — 101.5 — Obligations of state & political subdivisions 42.0 — 42.0 — Mortgage-backed securities 158.7 — 158.7 — Collateralized mortgage obligations 29.8 — 29.8 — Mutual funds 19.2 19.2 — — Other debt securities 1.6 — 1.6 — Total assets measured on a recurring basis at fair value $ 352.9 $ 19.3 $ 333.6 $ — (dollars in millions) Total Level 1 Level 2 Level 3 Mortgage servicing rights $ 5.7 $ — $ — $ 5.7 Impaired loans and leases 13.8 — — 13.8 OREO 2.6 — — 2.6 Total assets measured at fair value on a non-recurring basis $ 22.1 $ — $ — $ 22.1 |
Note 16 - Pension and Postret53
Note 16 - Pension and Postretirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Assumptions Used [Table Text Block] | QDBP SERP I and SERP II PRBP 2016 2015 2016 2015 2016 2015 Discount rate N/A N/A 3.75 % 3.90 % 2.80 % 3.90 % Rate of increase for future compensation N/A N/A N/A N/A N/A N/A Expected long-term rate of return on plan assets N/A N/A N/A N/A N/A N/A |
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | QDBP SERP I & SERP II PRBP (dollars in thousands) 2016 2015 2016 2015 2016 2015 Change in benefit obligations Benefit obligation at January 1 $ 169 $ 44,092 $ 4,830 $ 5,079 $ 493 $ 540 Service cost — — — — — — Interest cost — 1,589 184 184 17 18 Plan participants contribution — — — — 49 46 Actuarial loss (gain) — (2,978 ) 32 (178 ) (6 ) 27 Settlements — (40,625 ) — — — — Benefits paid (169 ) (1,909 ) (260 ) (255 ) (135 ) (138 ) Benefit obligation at December 31 $ — $ 169 $ 4,786 $ 4,830 $ 418 $ 493 Change in plan assets Fair value of plan assets at January 1 $ 169 $ 43,874 $ — $ — $ — $ — Actual return on plan assets — 1,140 — — — — Settlements — (40,625 ) — — — Excess assets transferred to defined contribution plan — (2,311 ) — — — Employer contribution — — 260 254 86 92 Plan participants’ contribution — — — — 49 46 Benefits paid (169 ) (1,909 ) (260 ) (254 ) (135 ) (138 ) Fair value of plan assets at December 31 $ — $ 169 $ — $ — $ — $ — Funded status at year end (plan assets less benefit obligations) $ — $ — $ (4,786 ) $ (4,830 ) $ (418 ) $ (493 ) QDBP SERP I & SERP II PRBP For the Twelve Months Ended December 31, Amounts included in the consolidated balance sheet as other assets (liabilities) and accumulated other comprehensive income including the following: 2016 2015 2016 2015 2016 2015 Prepaid benefit cost/(accrued liability) $ — $ — $ (3,248 ) $ (3,266 ) $ (170 ) $ (197 ) Net actuarial loss — — (1,539 ) (1,564 ) (248 ) (296 ) Prior service cost — — — — — — Unrecognized net initial obligation — — — — — — Net included in Other Liabilities in the Consolidated Balance Sheets $ — $ — $ (4,787 ) $ (4,830 ) $ (418 ) $ (493 ) |
Schedule of Net Benefit Costs [Table Text Block] | QDBP Net Periodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Service cost $ — $ — $ — Interest cost — 1,589 1,640 Expected return on plan assets — (3,217 ) (3,348 ) Amortization of prior service cost — — — Recognition of net actuarial loss — 1,913 391 Recognition of net actuarial loss due to settlement — 17,377 — Net periodic pension cost (benefit) $ — $ 17,662 $ (1,317 ) SERP I and SERP II Pe riodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Service cost $ — $ — $ 61 Interest cost 184 184 177 Gain on curtailment — — — Amortization of prior service cost — — 14 Recognition of net actuarial loss 57 63 (33 ) Net periodic pension cost (benefit) $ 241 $ 247 $ 219 PRBP Net Periodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Service cost $ — $ — $ — Interest cost 17 18 29 Settlement — — — Amortization of transition obligation — — — Amortization of prior service cost — — — Recognition of net actuarial loss 41 37 61 Net periodic pension cost $ 58 $ 55 $ 90 For the Twelve Months Ended December 31, 2016 2015 2014 Discount Rate Used in the Calculation of Periodic Pension Costs 3.90 % 3.70 % 4.60 % |
Schedule of Expected Benefit Payments [Table Text Block] | (dollars in thousands) SERP I & SERP II PRBP Fiscal year ending 2017 $ 259 $ 78 2018 $ 257 $ 68 2019 $ 256 $ 59 2020 $ 254 $ 50 2021 $ 250 $ 42 2022-2026 $ 1,671 $ 125 |
Note 17 - Accumulated Other C54
Note 17 - Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | (dollars in thousands) Net Change in Unrealized Gains on Available-for- Sale Investment Securities Net Change in Fair Value of Derivative Used for Cash Flow Hedge Net Change in Unfunded Pension Liability Accumulated Other Comprehensive Loss Balance, December 31, 2013 $ (857 ) $ 743 $ (5,451 ) $ (5,565 ) Net change 2,173 (768 ) (7,544 ) (6,139 ) Balance, December 31, 2014 $ 1,316 $ (25 ) $ (12,995 ) $ (11,704 ) Balance, December 31, 2014 $ 1,316 $ (25 ) $ (12,995 ) $ (11,704 ) Net change (542 ) 25 11,809 11,292 Balance, December 31, 2015 $ 774 $ — $ (1,186 ) $ (412 ) Balance, December 31, 2015 $ 774 $ — $ (1,186 ) $ (412 ) Net change (2,005 ) 8 (1,997 ) Balance, December 31, 2016 $ (1,231 ) $ — $ (1,178 ) $ (2,409 ) |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Amount Reclassified from Accumulated Other Comprehensive Loss Description of Accumulated Other For The Twelve Months Ended December 31, Affected Income Statement Comprehensive Loss Component 2016 2015 2014 Category Net unrealized gain on investment securities available for sale: Realization of (loss) gain on sale of investment securities available for sale $ (77 ) $ 931 $ 471 Net gain (loss) on sale of available for sale investment securities Less: income tax benefit (expense) 27 (326 ) (165 ) Less: income tax benefit (expense) Net of income tax $ (50 ) $ 605 $ 306 Net of income tax Cash flow hedge : Realized loss on cash flow hedge $ — $ (611 ) $ — Other operating expenses Less: income tax benefit — 214 — Less: income tax benefit Net of income tax — (397 ) — Net of income tax Unfunded pension liability: Amortization of net loss included in net periodic pension costs* $ 98 $ 2,013 $ 419 Employee benefits Settlement of pension plan settlement — 17,377 — Loss on pension plan settlement Amortization of prior service cost included in net periodic pension costs* — — 14 Employee benefits Gain on curtailment of SERP II — — — Net gain on curtailment of nonqualified pension plan 98 19,390 433 Total expense before income tax benefit 34 6,787 152 Less: income tax benefit $ 64 $ 12,603 $ 281 Net of income tax |
Note 18 - Income Taxes (Tables)
Note 18 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (dollars in thousands) 2016 2015 Deferred tax assets: Loan and lease loss reserve $ 6,492 $ 5,872 Other reserves 3,611 5,509 Net operating loss carry-forward 471 927 Alternative minimum tax credits 567 567 Unrealized depreciation of available for sale securities 663 — Defined benefit plans 2,068 1,851 Total deferred tax asset 13,872 14,726 Deferred tax liabilities: Other reserves 52 461 Originated MSRs 1,969 1,800 Amortizing fair value adjustments 1,336 911 Unrealized appreciation of available for sale securities — 417 Total deferred tax liability 3,357 3,589 Total net deferred tax asset $ 10,515 $ 11,137 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (dollars in thousands) 2016 2015 2014 Current $ 16,492 $ 12,006 $ 12,655 Deferred 1,676 (2,834 ) 2,350 Total $ 18,168 $ 9,172 $ 15,005 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (dollars in thousands) 2016 Tax Rate 2015 Tax Rate 2014 Tax Rate Computed tax expense at statutory federal rate $ 18,972 35.0 % $ 9,074 35.0 % $ 14,997 35.0 % Tax-exempt income (758 ) (1.4 ) (622 ) (2.4 ) (401 ) (0.9 ) State tax (net of federal tax benefit) 425 0.8 299 1.2 215 0.5 Non-deductible merger expense — — 105 0.4 105 0.2 Excess tax benefit – stock based compensation (565 ) (1.0 ) — — — — Other, net 94 0.1 316 1.2 89 0.2 Total income tax expense $ 18,168 33.5 % $ 9,172 35.4 % $ 15,005 35.0 % |
Note 19 - Stock-based Compens56
Note 19 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Activity [Table Text Block] | Shares Authorized for Grant Balance, December 31, 2013 216,905 Shares authorized for grant under non-shareholder approved plans 47,368 Grants of RSUs (16,456 ) Grants of PSUs (71,184 ) Expiration of unexercised options 1,750 Forfeitures of RSAs and RSUs 2,560 Forfeitures of PSAs and PSUs 1,900 Balance, December 31, 2014 182,843 Shares authorized for grant under shareholder approved plans 500,000 Grants of RSUs (24,514 ) Grants of PSUs (92,474 ) Expiration of unexercised options 3,180 Non-vesting PSAs* 25,929 Forfeitures of PSAs and PSUs 22,801 Balance, December 31, 2015 617,765 Grants of RSUs (33,142 ) Grants of PSUs (45,346 ) Expiration of unexercised options — Non-vesting PSUs* 10,088 Forfeitures of PSUs 2,344 Forfeitures of RSUs 1,250 Balance, December 31, 2016 552,959 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | For the Twelve Months Ended December 31, 2016 2015 2014 Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Shares Weighted Average Exercise Price Weighted Average Grant Date Fair Value Options outstanding, beginning of period 290,853 $ 20.88 $ 4.85 447,966 $ 20.94 $ 4.75 591,086 $ 20.73 $ 4.70 Granted — — — — $ — $ — — $ — $ — Assumed in the CBH Merger — — — 181,256 $ 17.73 $ — — $ — $ — Expired — — — (3,180 ) $ 21.33 $ 4.84 (1,750 ) $ 22.31 $ 4.99 Exercised (105,830 ) $ 20.61 7.32 (335,189 ) $ 19.25 $ 4.62 (141,370 ) $ 20.06 $ 4.51 Options outstanding, end of period 185,023 21.04 4.88 290,853 $ 20.88 $ 4.85 447,966 $ 20.94 $ 4.75 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Range of Exercise Prices Options Outstanding Remaining Contractual Life (in years) Shares Exercisable Remaining Contractual Life (in years) Weighted Average Exercise Price* $10.36 to $17.15 1,383 2.21 1,383 2.21 $ 12.58 $17.16 to $18.30 87,725 2.64 87,725 2.64 $ 18.27 $18.31 to $20.17 563 7.05 563 7.05 $ 18.33 $20.18 to $22.64 23,500 0.66 23,500 0.66 $ 22.00 $22.65 to $23.78 338 0.96 338 0.96 $ 23.28 $23.79 to $24.27 71,514 1.63 71,514 1.63 $ 24.27 185,023 2.00 185,023 2.00 $ 21.03 |
Schedule of Nonvested Share Activity [Table Text Block] | For the Twelve Months Ended December 31, 2016 2015 2014 Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Shares Weighted Average Grant Date Fair Value Unvested options, beginning of period — $ — — $ — 30,146 $ 4.42 Granted — $ — — $ — — $ — Assumed in CBH Merger — $ — 181,256 $ 12.94 — $ — Vested — $ — (181,256 ) $ 12.94 (30,146 ) $ 4.42 Forfeited — $ — — $ — — $ — Unvested options, end of period — $ — — $ — — $ — |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block] | For the Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Proceeds from strike price of value of options exercised $ 2,181 $ 6,452 $ 2,836 Related tax benefit recognized 256 515 378 Proceeds of options exercised $ 2,437 $ 6,967 $ 3,214 Intrinsic value of options exercised $ 1,125 $ 3,615 $ 1,288 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | As of December 31, 2015 2014 201 3 Options Outstanding Exercisable Options Options Outstanding Exercisable Options Options Outstanding Exercisable Options Number 185,023 185,023 290,853 290,853 447,966 447,966 Weighted average exercise price $ 21.03 $ 21.03 $ 20.88 $ 20.88 $ 20.94 $ 20.94 Aggregate intrinsic value $ 3,907,758 $ 3,907,758 $ 2,280,288 $ 2,280,288 $ 4,640,917 $ 4,640,917 Weighted average contractual term (in years) 2.0 2.0 2.9 2.9 2.7 2.7 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Twelve Months Ended December 31, 2016 Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Beginning balance 42,802 $ 28.58 46,281 $ 23.17 54,156 $ 19.36 Granted 33,142 $ 29.67 24,514 $ 29.83 16,456 $ 28.88 Vested (15,832 ) $ 27.14 (27,993 ) $ 20.73 (21,771 ) $ 18.21 Forfeited (1,250 ) $ 29.12 — $ — (2,560 ) $ 21.48 Ending balance 58,862 $ 29.57 42,802 $ 28.58 46,281 $ 23.17 |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | Twelve Months Ended December 31, 2016 Twelve Months Ended December 31, 2015 Twelve Months Ended December 31, 2014 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Beginning balance 216,820 $ 15.07 217,318 $ 13.41 204,980 $ 11.90 Granted 45,346 $ 28.34 92,474 $ 16.42 71,184 $ 15.05 Vested (56,890 ) $ 13.38 (44,242 ) $ 11.80 (56,946 ) $ 10.07 Non-vesting* (10,088 ) $ 13.38 (25,929 ) $ 11.80 — $ — Forfeited (2,344 ) $ 15.37 (22,801 ) $ 14.75 (1,900 ) $ 12.32 Ending balance 192,844 $ 18.77 216,820 $ 15.07 217,318 $ 13.41 |
Note 20 - Earnings Per Share (T
Note 20 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (dollars in thousands, Year Ended December 31, except per share data) 2016 2015 2014 Numerator $ 36,036 $ 16,754 $ 27,843 Denominator for basic earnings per share – * 16,859,623 17,488,325 13,566,239 Effect of dilutive potential common shares 168,499 267,996 294,801 Denominator for diluted earnings per share – 17,028,122 17,756,321 13,861,040 Basic earnings per share $ 2.14 $ 0.96 $ 2.05 Diluted earnings per share $ 2.12 $ 0.94 $ 2.01 Antidilutive shares excluded from computation of average dilutive earnings per share — — — |
Note 21 - Other Operating Inc58
Note 21 - Other Operating Income (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Other Non-interest Income [Table Text Block] | (dollars in thousands) 2016 2015 2014 Merchant interchange fees $ 1,381 $ 1,238 $ 934 Bank owned life insurance income 908 783 315 Commissions and fees 673 867 637 Safe deposit box rentals 382 384 389 Other investment income 223 248 142 Rent income 163 175 164 Miscellaneous other income 1,138 1,154 502 Other operating income $ 4,868 $ 4,849 $ 3,083 |
Note 22 - Other Operating Exp59
Note 22 - Other Operating Expense (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Other Non-interest Expense ]Table Text Block] | (dollars in thousands) 2016 2015 2014 Telephone and data lines $ 1,620 $ 1,704 $ 1,332 FDIC insurance 1,616 1,447 1,046 Temporary help and recruiting 1,522 1,362 1,171 Loan processing 164 1,285 723 Debt prepayment penalty — 1,131 526 Travel and entertainment 894 868 725 Insurance 788 770 759 MSR amortization and impairment 881 660 532 Stationary and supplies 518 623 445 Director fees 566 568 443 Postage 551 540 471 Outsourced services 569 508 432 Contributions 957 468 403 Dues and subscriptions 456 441 368 Portfolio maintenance 391 385 389 Other taxes 45 80 51 Deferred compensation expense 664 15 266 Miscellaneous other expense 1,505 1,643 1,490 Other operating expense $ 13,707 $ 14,498 $ 11,572 |
Note 23 - Related Party Trans60
Note 23 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | (dollars in thousands) 2016 2015 Loan balances, beginning of year $ 11,386 $ 2,874 Additions 1,227 9,115 Amounts collected (889 ) (603 ) Loan balances as end of year $ 11,724 $ 11,386 |
Note 26 - Regulatory Capital 61
Note 26 - Regulatory Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum to be Well Capitalized (dollars in thousands) Amount Ratio Amount Ratio December 31, 2016 Total (Tier II) capital to risk weighted assets: Corporation $ 318,191 12.35 % $ 257,651 10.00 % Bank $ 287,897 11.19 % $ 257,179 10.00 % Tier I capital to risk weighted assets: Corporation $ 270,845 10.51 % $ 206,121 8.00 % Bank $ 270,083 10.50 % $ 205,743 8.00 % Tier I capital to average assets: Corporation $ 270,845 8.73 % $ 201,546 6.50 % Bank $ 270,083 8.73 % $ 201,189 6.50 % Common equity Tier I to risk weighted assets Corporation $ 270,845 10.51 % $ 128,826 5.00 % Bank $ 270,083 10.50 % $ 128,589 5.00 % December 31, 2015 Total (Tier II) capital to risk weighted assets: Corporation $ 302,236 12.61 % $ 239,680 10.00 % Bank $ 257,716 10.78 % $ 239,069 10.00 % Tier I capital to risk weighted assets: Corporation $ 256,900 10.72 % $ 191,716 8.00 % Bank $ 241,859 10.12 % $ 191,193 8.00 % Tier I capital to average assets: Corporation $ 256,900 9.02 % $ 185,127 6.50 % Bank $ 241,859 8.51 % $ 184,734 6.50 % Common equity Tier I to risk weighted assets Corporation $ 256,900 10.72 % $ 119,823 5.00 % Bank $ 241,859 10.12 % $ 119,496 5.00 % |
Note 27 - Selected Quarterly 62
Note 27 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2016 (dollars in thousands, except per share data) 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Interest income $ 28,269 $ 29,286 $ 29,514 $ 29,922 Interest expense 2,367 2,659 2,797 2,932 Net interest income 25,902 26,627 26,717 26,990 Provision for loan and lease losses 1,410 445 1,412 1,059 Other income 13,208 13,820 13,892 13,119 Other expense 25,051 26,259 25,477 24,958 Income before income taxes 12,649 13,743 13,720 14,092 Income taxes 4,328 4,810 4,346 4,684 Net income $ 8,321 $ 8,933 $ 9,374 $ 9,408 Basic earnings per common share * $ 0.49 $ 0.53 $ 0.56 $ 0.56 Diluted earnings per common share * $ 0.49 $ 0.52 $ 0.55 $ 0.55 Dividend declared $ 0.20 $ 0.20 $ 0.21 $ 0.21 2015 (dollars in thousands, except per share data) 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Interest income $ 26,754 $ 26,993 $ 27,029 $ 27,766 Interest expense 1,959 1,923 2,196 2,337 Net interest income 24,795 25,070 24,833 25,429 Provision for loan and lease losses 569 850 1,200 1,777 Other income 14,765 14,177 13,350 13,668 Other expense 27,429 25,982 25,403 46,951 Income (loss) before income taxes 11,562 12,415 11,580 (9,631 ) Income taxes 4,068 4,296 4,084 (3,276 ) Net income (loss) $ 7,494 $ 8,119 $ 7,496 $ (6,355 ) Basic earnings (loss) per common share * $ 0.43 $ 0.46 $ 0.43 $ (0.37 ) Diluted earnings per common share * $ 0.42 $ 0.45 $ 0.42 $ (0.37 ) Dividend declared $ 0.19 $ 0.19 $ 0.20 $ 0.20 |
Note 28 - Parent Company - On63
Note 28 - Parent Company - Only Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, (dollars in thousands) 2016 2015 Assets: Cash $ 23,663 $ 37,992 Investment securities 400 404 Investments in subsidiaries, as equity in net assets 384,751 354,148 Premises and equipment, net 2,288 2,386 Goodwill 245 245 Other assets 1,435 1,704 Total assets $ 412,782 $ 396,879 Liabilities and shareholders’ equity: Borrowings $ — $ — Subordinated notes 29,532 29,479 Other liabilities 2,123 1,689 Total liabilities $ 31,655 $ 31,168 Common stock, par value $1, authorized 100,000,000 shares issued 21,110,968 shares and 20,931,416 shares as of December 31, 2016 and 2015, respectively, and outstanding 16,939,715 shares and 17,071,523 shares as of December 31, 2016 and 2015, respectively $ 21,111 $ 20,931 Paid-in capital in excess of par value 232,806 228,814 Less common stock in treasury, at cost – 4,171,253 shares and 3,859,893 shares as of December 31, 2016 and 2015, respectively (66,950 ) (58,144 ) Accumulated other comprehensive loss, net of deferred income taxes benefit (2,409 ) (412 ) Retained earnings 196,569 174,522 Total shareholders’ equity $ 381,127 $ 365,711 Total liabilities and shareholders’ equity $ 412,782 $ 396,879 |
Condensed Income Statement [Table Text Block] | Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Dividends from subsidiaries $ 17,718 $ 34,234 $ 12,160 Interest and other income 2,714 2,128 2,156 Total operating income 20,432 36,362 14,316 Expenses 2,443 2,140 1,849 Income before equity in undistributed income of subsidiaries 17,989 34,222 12,467 Equity in undistributed income of subsidiaries 17,600 (17,427 ) 15,480 Income before income taxes 35,589 16,795 27,947 Income tax (benefit) expense (447 ) 41 104 Net income $ 36,036 $ 16,754 $ 27,843 |
Condensed Cash Flow Statement [Table Text Block] | Twelve Months Ended December 31, (dollars in thousands) 2016 2015 2014 Operating activities: Net Income $ 36,036 $ 16,754 $ 27,843 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiaries (17,600 ) 17,427 (15,480 ) Depreciation and amortization 151 121 98 Stock-based compensation cost 1,713 1,441 1,256 Other, net 1,000 508 485 Net cash provided by operating activities 21,300 36,251 14,202 Investing Activities: Investment in subsidiaries (15,000 ) — — Proceeds from sale investments — 16 — Acquisitions, net of cash acquired — 128 — Net cash (used in) provid ed by investing activities (15,000 ) 144 — Financing activities: Dividends paid (13,961 ) (13,837 ) (10,189 ) Change in other borrowings — — (7,050 ) Proceeds from issuance of subordinated notes — 29,456 — Net (purchase of) proceeds from sale of treasury stock for deferred compensation plans (133 ) (128 ) 79 Net purchase of treasury stock through publicly announced plans (7,971 ) (26,418 ) (947 ) Proceeds from issuance of common stock — 20 72 Payment of contingent consideration for business combinations — — — Excess tax benefit from stock-based compensation — 783 831 Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation (745 ) — — Proceeds from exercise of stock options 2,181 6,452 2,836 Net cash used by financing activities (20,629 ) (3,672 ) (14,368 ) Change in cash and cash equivalents (14,329 ) 32,723 (166 ) Cash and cash equivalents at beginning of period 37,992 5,269 5,435 Cash and cash equivalents at end of period $ 23,663 $ 37,992 $ 5,269 |
Note 29 - Segment Information (
Note 29 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | As of or for the Twelve Months Ended December 31, 2016 2015 2014 (dollars in thousands) Banking Wealth Management Consolidated Banking Wealth Management Consolidated Banking Wealth Management Consolidated Net interest income $ 106,233 $ 3 $ 106,236 $ 100,124 $ 3 $ 100,127 $ 76,825 $ 3 $ 76,828 Less: loan loss provision 4,326 — 4,326 4,396 — 4,396 884 — 884 Net interest income after loan loss provision 101,907 3 101,910 95,728 3 95,731 75,941 3 75,944 Other income: Fees for wealth management services — 36,690 36,690 — 36,894 36,894 — 36,774 36,774 Service charges on deposit accounts 2,791 — 2,791 2,927 — 2,927 2,578 — 2,578 Loan servicing and other fees 1,939 — 1,939 2,087 — 2,087 1,755 — 1,755 Net gain on sale of loans 3,119 — 3,119 3,022 — 3,022 1,772 — 1,772 Net gain (loss) on sale of available for sale securities (77 ) — (77 ) 931 — 931 471 — 471 ) Net gain (loss) on sale of other real estate owned (76 ) — (76 ) 123 — 123 175 — 175 ) Insurance commissions — 3,722 3,722 — 3,745 3,745 — 1,210 1,210 Other operating income 5,773 158 5,931 6,082 149 6,231 3,419 168 3,587 Total other income 13,469 40,570 54,039 15,172 40,788 55,960 10,170 38,152 48,322 Other expenses: Salaries & wages 32,321 15,090 47,411 30,391 14,184 44,575 24,612 12,501 37,113 Employee benefits 6,257 3,291 9,548 7,298 2,907 10,205 4,306 3,034 7,340 Loss on pension plan settlement — — — 17,377 — 17,377 — — — Occupancy and bank premises 8,005 1,606 9,611 8,662 1,643 10,305 5,753 1,552 7,305 Amortization of other intangible assets 872 2,626 3,498 1,172 2,655 3,827 276 2,383 2,659 Professional fees 3,516 143 3,659 3,227 126 3,353 2,923 94 3,017 Other operating expenses 24,183 3,835 28,018 32,150 3,973 36,123 20,457 3,527 23,984 Total other expenses 75,154 26,591 101,745 100,277 25,488 125,765 58,327 23,091 81,418 Segment profit 40,222 13,982 54,204 10,623 15,303 25,926 27,784 15,064 42,848 Intersegment (revenues) expenses* (396 ) 396 — (422 ) 422 — (372 ) 372 — Pre-tax segment profit after eliminations $ 39,826 $ 14,378 $ 54,204 $ 10,201 $ 15,725 $ 25,926 $ 27,412 $ 15,436 $ 42,848 % of segment pre-tax profit after eliminations 73.5 % 26.5 % 100.0 % 39.3 % 60.7 % 100.0 % 64.0 % 36.0 % 100.0 % Segment assets (dollars in millions) $ 3,377.1 $ 44.4 $ 3,421.5 $ 2,983.2 $ 47.8 $ 3,031.0 $ 2,197.8 $ 48.7 $ 2,246.5 |
Wealth [Member] | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (dollars in millions) December 31, 2016 December 31, 2015 Assets under management, administration, supervision and brokerage $ 11,328.5 $ 8,364.8 |
Note 1 - Summary of Significa65
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | Apr. 01, 2015USD ($) | Jan. 01, 2015USD ($)shares | Oct. 01, 2014USD ($) | Mar. 31, 2017USD ($) | Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2012USD ($) |
Number of Service Branches | 25 | 25 | 25 | ||||||||||
Number of Limited-hour Retirement Community Offices | 8 | 8 | 8 | ||||||||||
Number of Limited-service Branches | 1 | 1 | 1 | ||||||||||
Number of Wealth Offices | 5 | 5 | 5 | ||||||||||
Cash Reserve Deposit Required and Made | $ 10,400 | $ 11,700 | $ 10,400 | $ 10,400 | $ 11,700 | ||||||||
Delinquency Period after Which the Accrual of Interest Is Generally Discontinued | 90 days | ||||||||||||
Delinquency Period after Which a Lease Is Charged Off | 120 days | ||||||||||||
Period after Which Nonaccrual Loans and Leases May Be Returned to Accrual Status | 180 days | ||||||||||||
Federal Home Loan Bank Stock | 17,305 | 12,942 | 17,305 | $ 17,305 | 12,942 | ||||||||
Federal Reserve Bank Stock | 6,900 | 6,900 | 6,900 | ||||||||||
Derivative, Notional Amount | 15,000 | $ 15,000 | 15,000 | ||||||||||
Debt Instrument, Face Amount | $ 15,000 | ||||||||||||
Other than Temporary Impairment Losses, Investments | 0 | 0 | $ 0 | ||||||||||
Recognition of Tax Benefit in Consolidated Statements of Income [Member] | |||||||||||||
Current Period Reclassification Adjustment | 565 | ||||||||||||
Forward Contracts [Member] | |||||||||||||
Derivative, Notional Amount | 15,000 | ||||||||||||
Federal Home Loan Bank [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 15,000 | ||||||||||||
Royal Bancshares of Pennsylvania, Inc. [Member] | Scenario, Forecast [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 127,700 | $ 127,700 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 602,000 | 602,000 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Liabilities | 630,000 | 630,000 | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | $ 602,000 | $ 602,000 | |||||||||||
Robert J. McAllister Agency, Inc. ("RJM") [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 1,000 | ||||||||||||
Payments to Acquire Businesses, Gross | $ 500 | ||||||||||||
Business Combination, Payment of Contingent Consideration Installment | $ 85 | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Installment | $ 100 | ||||||||||||
Business Combination, Number of Remaining Contingent Consideration Installments | 4 | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Remaining Installment | 100 | $ 100 | 100 | ||||||||||
Continental Bank Holdings, Inc. ("CBH") [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 125,059 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Liabilities | $ 481,674 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 3,878,383 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interest, Fair Value of Stock Options | $ 2,343 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interest Cash Out of Certain Warrants | 1,323 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 424,737 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | $ 181,838 | ||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Number of Branches | 10 | ||||||||||||
Powers Craft Parker and Beard (PCPB) [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 7,024 | ||||||||||||
Payments to Acquire Businesses, Gross | 5,399 | ||||||||||||
Business Combination, Payment of Contingent Consideration Installment | $ 542 | $ 542 | |||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Installment | 542 | ||||||||||||
Business Combination, Number of Remaining Contingent Consideration Installments | 1 | 2 | |||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Remaining Installment | $ 542 | $ 542 | 542 | 542 | 542 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | $ 302 | ||||||||||||
Business Combination, Number of Consideration Installments | 3 | ||||||||||||
Business Combination, Remaining Contingent Consideration Installment | $ 542 | $ 1,100 | $ 542 | $ 542 | $ 1,100 |
Note 2 - Business Combination66
Note 2 - Business Combinations (Details Textual) $ in Thousands | Apr. 01, 2015USD ($) | Jan. 01, 2015USD ($)shares | Oct. 01, 2014USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 13, 2016USD ($) | Dec. 13, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Noninterest Income, Other Operating Income | $ 4,868 | $ 4,849 | $ 4,868 | $ 4,849 | $ 3,083 | |||||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | $ 9,621 | $ 8,987 | $ 9,621 | 9,621 | 8,987 | |||||||
Robert J. McAllister Agency, Inc. ("RJM") [Member] | ||||||||||||
Business Combination, Consideration Transferred | $ 1,000 | |||||||||||
Payments to Acquire Businesses, Gross | $ 500 | |||||||||||
Business Combination, Payment of Contingent Consideration Installment | $ 85 | |||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Installment | $ 100 | |||||||||||
Business Combination, Number of Remaining Contingent Consideration Installments | 4 | |||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Remaining Installment | 100 | $ 100 | 100 | |||||||||
Noninterest Income, Other Operating Income | 15 | |||||||||||
Continental Bank Holdings, Inc. ("CBH") [Member] | ||||||||||||
Business Combination, Consideration Transferred | $ 125,059 | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares including Fractional Shares | shares | 3,878,383 | |||||||||||
Business Combination Stock Consideration Conversion Ratio of Shares in Acquirer | 0.45 | |||||||||||
Business Combination, Consideration Transferred, Equity Interest Cash Out of Certain Warrants | $ 1,323 | |||||||||||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group | $ 507 | |||||||||||
Conversion of Stock, Shares Converted | shares | 8,618,629 | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 3,878,383 | |||||||||||
Business Acquisition, Equity Interest, Number of Fractional Shares Paid in Cash | shares | 79 | |||||||||||
Powers Craft Parker and Beard (PCPB) [Member] | ||||||||||||
Business Combination, Consideration Transferred | $ 7,024 | |||||||||||
Payments to Acquire Businesses, Gross | 5,399 | |||||||||||
Business Combination, Payment of Contingent Consideration Installment | $ 542 | $ 542 | ||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Installment | $ 542 | |||||||||||
Business Combination, Number of Remaining Contingent Consideration Installments | 1 | 2 | ||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Remaining Installment | $ 542 | $ 542 | 542 | 542 | 542 | |||||||
Business Combination, Number of Consideration Installments | 3 | |||||||||||
Business Combination, Remaining Contingent Consideration Installment | $ 542 | $ 1,100 | $ 542 | $ 542 | $ 1,100 |
Note 2 - Business Combination67
Note 2 - Business Combinations - Consideration Paid and Fair Value of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Apr. 01, 2015 | Jan. 01, 2015 | Oct. 01, 2014 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill | $ 104,765 | $ 104,765 | $ 35,781 | |||||
Continental Bank Holdings, Inc. ("CBH") [Member] | ||||||||
Value of consideration | $ 125,059 | |||||||
Cash accounts | 17,934 | |||||||
Other assets | 17,974 | |||||||
Total assets | 676,173 | |||||||
Other liabilities | 6,573 | |||||||
Total liabilities | 619,466 | |||||||
Net assets acquired | 56,707 | |||||||
Goodwill | 68,352 | |||||||
Common shares issued (3,878,304) | 121,391 | |||||||
Cash in lieu of fractional shares | 2 | |||||||
Cash-out of certain warrants | 1,323 | |||||||
Fair value of options assumed | 2,343 | |||||||
Investment securities available for sale | 181,838 | |||||||
Loans* | 424,737 | |||||||
Premises and equipment | 9,037 | |||||||
Deferred income taxes | 7,684 | |||||||
Bank-owned life insurance | 12,054 | |||||||
Deposits | 481,674 | |||||||
FHLB and other long-term borrowings | 19,726 | |||||||
Short-term borrowings | 108,609 | |||||||
Unfavorable lease liability | 2,884 | |||||||
Continental Bank Holdings, Inc. ("CBH") [Member] | Core Deposits [Member] | ||||||||
Intangible assets | 4,191 | |||||||
Continental Bank Holdings, Inc. ("CBH") [Member] | Off-Market Favorable Lease [Member] | ||||||||
Intangible assets | 724 | |||||||
Powers Craft Parker and Beard (PCPB) [Member] | ||||||||
Cash paid at closing | $ 5,399 | |||||||
Contingent payment liability | 1,083 | |||||||
Value of consideration | 7,024 | |||||||
Cash accounts | 1,274 | |||||||
Other assets | 850 | |||||||
Total assets | 8,341 | |||||||
Deferred tax liability | 2,437 | |||||||
Other liabilities | 1,818 | |||||||
Total liabilities | 4,255 | |||||||
Net assets acquired | 4,086 | |||||||
Goodwill | 2,938 | |||||||
Investment securities available for sale | 302 | |||||||
Premises and equipment | 100 | |||||||
Label 2 | 542 | |||||||
Powers Craft Parker and Beard (PCPB) [Member] | Trade Names [Member] | ||||||||
Intangible assets | 955 | |||||||
Powers Craft Parker and Beard (PCPB) [Member] | Customer Relationships [Member] | ||||||||
Intangible assets | 3,280 | |||||||
Powers Craft Parker and Beard (PCPB) [Member] | Noncompete Agreements [Member] | ||||||||
Intangible assets | $ 1,580 | |||||||
Robert J. McAllister Agency, Inc. ("RJM") [Member] | ||||||||
Cash paid at closing | $ 500 | |||||||
Contingent payment liability | 500 | |||||||
Value of consideration | 1,000 | |||||||
Cash accounts | 20 | |||||||
Other assets | 4 | |||||||
Total assets | 705 | |||||||
Deferred tax liability | 291 | |||||||
Other liabilities | 46 | |||||||
Total liabilities | 337 | |||||||
Net assets acquired | 368 | |||||||
Goodwill | 632 | |||||||
Label 2 | $ 100 | |||||||
Robert J. McAllister Agency, Inc. ("RJM") [Member] | Trade Names [Member] | ||||||||
Intangible assets | ||||||||
Robert J. McAllister Agency, Inc. ("RJM") [Member] | Customer Relationships [Member] | ||||||||
Intangible assets | 424 | |||||||
Robert J. McAllister Agency, Inc. ("RJM") [Member] | Noncompete Agreements [Member] | ||||||||
Intangible assets | 257 | |||||||
Scenario, Previously Reported [Member] | Continental Bank Holdings, Inc. ("CBH") [Member] | ||||||||
Value of consideration | 125,059 | |||||||
Cash accounts | 17,934 | |||||||
Other assets | 18,085 | |||||||
Total assets | 676,820 | |||||||
Other liabilities | 4,706 | |||||||
Total liabilities | 617,599 | |||||||
Net assets acquired | 59,221 | |||||||
Goodwill | 65,838 | |||||||
Common shares issued (3,878,304) | 121,391 | |||||||
Cash in lieu of fractional shares | 2 | |||||||
Cash-out of certain warrants | 1,323 | |||||||
Fair value of options assumed | 2,343 | |||||||
Investment securities available for sale | 181,838 | |||||||
Loans* | [1] | 426,601 | ||||||
Premises and equipment | 9,037 | |||||||
Deferred income taxes | 6,288 | |||||||
Bank-owned life insurance | 12,054 | |||||||
Deposits | 481,674 | |||||||
FHLB and other long-term borrowings | 19,726 | |||||||
Short-term borrowings | 108,609 | |||||||
Unfavorable lease liability | 2,884 | |||||||
Scenario, Previously Reported [Member] | Continental Bank Holdings, Inc. ("CBH") [Member] | Core Deposits [Member] | ||||||||
Intangible assets | 4,191 | |||||||
Scenario, Previously Reported [Member] | Continental Bank Holdings, Inc. ("CBH") [Member] | Off-Market Favorable Lease [Member] | ||||||||
Intangible assets | 792 | |||||||
Scenario, Previously Reported [Member] | Robert J. McAllister Agency, Inc. ("RJM") [Member] | ||||||||
Cash paid at closing | 500 | |||||||
Contingent payment liability | 500 | |||||||
Value of consideration | 1,000 | |||||||
Cash accounts | 20 | |||||||
Other assets | 4 | |||||||
Total assets | 834 | |||||||
Deferred tax liability | 336 | |||||||
Other liabilities | 46 | |||||||
Total liabilities | 382 | |||||||
Net assets acquired | 452 | |||||||
Goodwill | 548 | |||||||
Scenario, Previously Reported [Member] | Robert J. McAllister Agency, Inc. ("RJM") [Member] | Trade Names [Member] | ||||||||
Intangible assets | 129 | |||||||
Scenario, Previously Reported [Member] | Robert J. McAllister Agency, Inc. ("RJM") [Member] | Customer Relationships [Member] | ||||||||
Intangible assets | 424 | |||||||
Scenario, Previously Reported [Member] | Robert J. McAllister Agency, Inc. ("RJM") [Member] | Noncompete Agreements [Member] | ||||||||
Intangible assets | 257 | |||||||
Restatement Adjustment [Member] | Continental Bank Holdings, Inc. ("CBH") [Member] | ||||||||
Value of consideration | ||||||||
Cash accounts | ||||||||
Other assets | (111) | |||||||
Total assets | (647) | |||||||
Other liabilities | 1,867 | |||||||
Total liabilities | 1,867 | |||||||
Net assets acquired | (2,514) | |||||||
Goodwill | 2,514 | |||||||
Common shares issued (3,878,304) | ||||||||
Cash in lieu of fractional shares | ||||||||
Cash-out of certain warrants | ||||||||
Fair value of options assumed | ||||||||
Investment securities available for sale | ||||||||
Loans* | [1] | (1,864) | ||||||
Premises and equipment | ||||||||
Deferred income taxes | 1,396 | |||||||
Bank-owned life insurance | ||||||||
Deposits | ||||||||
FHLB and other long-term borrowings | ||||||||
Short-term borrowings | ||||||||
Unfavorable lease liability | ||||||||
Restatement Adjustment [Member] | Continental Bank Holdings, Inc. ("CBH") [Member] | Core Deposits [Member] | ||||||||
Intangible assets | ||||||||
Restatement Adjustment [Member] | Continental Bank Holdings, Inc. ("CBH") [Member] | Off-Market Favorable Lease [Member] | ||||||||
Intangible assets | $ (68) | |||||||
Restatement Adjustment [Member] | Robert J. McAllister Agency, Inc. ("RJM") [Member] | ||||||||
Cash paid at closing | ||||||||
Contingent payment liability | ||||||||
Value of consideration | ||||||||
Cash accounts | ||||||||
Other assets | ||||||||
Total assets | (129) | |||||||
Deferred tax liability | (45) | |||||||
Other liabilities | ||||||||
Total liabilities | (45) | |||||||
Net assets acquired | (84) | |||||||
Goodwill | 84 | |||||||
Restatement Adjustment [Member] | Robert J. McAllister Agency, Inc. ("RJM") [Member] | Trade Names [Member] | ||||||||
Intangible assets | (129) | |||||||
Restatement Adjustment [Member] | Robert J. McAllister Agency, Inc. ("RJM") [Member] | Customer Relationships [Member] | ||||||||
Intangible assets | ||||||||
Restatement Adjustment [Member] | Robert J. McAllister Agency, Inc. ("RJM") [Member] | Noncompete Agreements [Member] | ||||||||
Intangible assets | ||||||||
[1] | includes $507 thousand of loans held for sale |
Note 2 - Business Combination68
Note 2 - Business Combinations - Consideration Paid and Fair Value of Identifiable Assets Acquired and Liabilities Assumed (Details) (Parentheticals) | Jan. 01, 2015shares |
Continental Bank Holdings, Inc. ("CBH") [Member] | |
Common shares issued (in shares) | 3,878,383 |
Note 2 - Business Combination69
Note 2 - Business Combinations - Pro Forma Income Statements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||||||||||
Net interest income | $ 26,990 | $ 26,717 | $ 26,627 | $ 25,902 | $ 25,429 | $ 24,833 | $ 25,070 | $ 24,795 | $ 106,236 | $ 100,127 | $ 76,828 | |||||||||
Net interest income after provision for loan and lease losses | 101,910 | 95,731 | 75,944 | |||||||||||||||||
Non-interest income | 54,039 | 55,960 | 48,322 | |||||||||||||||||
Non-interest expense | 101,745 | 125,765 | 81,418 | |||||||||||||||||
Income before income taxes | 14,092 | 13,720 | 13,743 | 12,649 | (9,631) | 11,580 | 12,415 | 11,562 | 54,204 | 25,926 | 42,848 | |||||||||
Income taxes | 4,684 | 4,346 | 4,810 | 4,328 | (3,276) | 4,084 | 4,296 | 4,068 | 18,168 | 9,172 | 15,005 | |||||||||
Net Income | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ (6,355) | $ 7,496 | $ 8,119 | $ 7,494 | $ 36,036 | $ 16,754 | $ 27,843 | |||||||||
Weighted-average basic shares outstanding (in shares) | [1] | 16,859,623 | 17,488,325 | 13,566,239 | ||||||||||||||||
Dilutive shares (in shares) | 168,499 | 267,996 | 294,801 | |||||||||||||||||
Adjusted weighted-average diluted shares (in shares) | 17,028,122 | 17,756,321 | 13,861,040 | |||||||||||||||||
Basic earnings per common share* (in dollars per share) | $ 0.56 | [2] | $ 0.56 | [2] | $ 0.53 | [2] | $ 0.49 | [2] | $ (0.37) | [2] | $ 0.43 | [2] | $ 0.46 | [2] | $ 0.43 | [2] | $ 2.14 | $ 0.96 | $ 2.05 | |
Diluted earnings per common share* (in dollars per share) | $ 0.55 | [2] | $ 0.55 | [2] | $ 0.52 | [2] | $ 0.49 | [2] | $ (0.37) | [2] | $ 0.42 | [2] | $ 0.45 | [2] | $ 0.42 | [2] | $ 2.12 | $ 0.94 | $ 2.01 | |
Pro Forma [Member] | ||||||||||||||||||||
Net interest income | $ 106,236 | $ 100,127 | $ 100,609 | |||||||||||||||||
Provision for loan and lease losses | 4,326 | 4,396 | 2,041 | |||||||||||||||||
Net interest income after provision for loan and lease losses | 101,910 | 95,731 | 98,568 | |||||||||||||||||
Non-interest income | 54,039 | 55,960 | 51,836 | |||||||||||||||||
Non-interest expense | 101,745 | 125,765 | 100,011 | |||||||||||||||||
Income before income taxes | 54,204 | 25,926 | 50,393 | |||||||||||||||||
Income taxes | 18,168 | 9,172 | 17,673 | |||||||||||||||||
Net Income | $ 36,036 | $ 16,754 | $ 32,720 | |||||||||||||||||
Weighted-average basic shares outstanding (in shares) | [3] | 16,859,623 | 17,488,325 | 17,444,543 | ||||||||||||||||
Dilutive shares (in shares) | [3] | 168,499 | 267,996 | 373,384 | ||||||||||||||||
Adjusted weighted-average diluted shares (in shares) | [3] | 17,028,122 | 17,756,321 | 17,817,927 | ||||||||||||||||
Basic earnings per common share* (in dollars per share) | [3] | $ 2.14 | $ 0.96 | $ 1.88 | ||||||||||||||||
Diluted earnings per common share* (in dollars per share) | [3] | $ 2.12 | $ 0.94 | $ 1.84 | ||||||||||||||||
[1] | excludes restricted stock | |||||||||||||||||||
[2] | Earnings per share is computed independently for each period shown. As a result, the sum of the quarters may not equal the total earnings per share for the year. | |||||||||||||||||||
[3] | Assumes that the shares of CBH common stock outstanding as of December 31, 2014 were outstanding for the full twelve month periods ended December 31, 2013 and 2014, and therefore equal the weighted average shares of common stock outstanding for the twelve months periods ended December 31, 2013 and 2014. The merger conversion of 8,618,629 shares of CBH common stock equals 3,878,304 shares of Corporation common stock (8,618,629 times 0.45, minus 79 fractional shares paid in cash). |
Note 2 - Business Combination70
Note 2 - Business Combinations - Costs Identified and Due Diligence, Merger-related and Merger Integration Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Advertising | $ 162 | $ 10 | |
Employee benefits | 258 | 23 | |
Furniture, fixtures and equipment | 159 | 9 | |
Information technology | 1,168 | 44 | |
Professional fees | 2,471 | 1,340 | |
Salaries and wages | 1,868 | 346 | |
Other | 584 | 601 | |
Total due diligence and merger-related expenses | $ 6,670 | $ 2,373 |
Note 3 - Goodwill and Other I71
Note 3 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill, Impairment Loss | $ 0 | $ 0 |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 0 | $ 0 |
Note 3 - Goodwill and Other I72
Note 3 - Goodwill and Other Intangible Assets - Goodwill and Intangible Assets Related to Acquisitions (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill | $ 104,765 | $ 35,781 | |
Goodwill additions/adjustments | 68,984 | ||
Goodwill amortization | 0 | 0 | |
Goodwill | 104,765 | 104,765 | $ 35,781 |
Intangible assets | 23,903 | 22,521 | |
Intangible assets additions/adjustments | 5,596 | ||
Intangible asset amortization | (3,498) | (4,214) | (2,659) |
Intangible assets | 20,405 | 23,903 | 22,521 |
Intangible asset amortization | (3,498) | (4,214) | |
Grand total | 128,668 | 58,302 | |
Grand total | 74,580 | ||
Grand total | 125,170 | 128,668 | 58,302 |
Core Deposits [Member] | |||
Intangible assets | 4,272 | 1,066 | |
Intangible assets additions/adjustments | 4,191 | ||
Intangible asset amortization | (825) | (985) | |
Intangible assets | $ 3,447 | $ 4,272 | 1,066 |
Intangible asset amortization period (Year) | 10 years | 10 years | |
Customer Relationships [Member] | |||
Intangible assets | $ 14,384 | $ 15,562 | |
Intangible assets additions/adjustments | 424 | ||
Intangible asset amortization | (1,328) | (1,602) | |
Intangible assets | $ 13,056 | $ 14,384 | 15,562 |
Customer Relationships [Member] | Minimum [Member] | |||
Intangible asset amortization period (Year) | 10 years | 10 years | |
Customer Relationships [Member] | Maximum [Member] | |||
Intangible asset amortization period (Year) | 20 years | 20 years | |
Noncompete Agreements [Member] | |||
Intangible assets | $ 2,932 | $ 3,728 | |
Intangible assets additions/adjustments | 257 | ||
Intangible asset amortization | (1,298) | (1,053) | |
Intangible assets | $ 1,634 | $ 2,932 | 3,728 |
Noncompete Agreements [Member] | Minimum [Member] | |||
Intangible asset amortization period (Year) | 5 years | 5 years | |
Noncompete Agreements [Member] | Maximum [Member] | |||
Intangible asset amortization period (Year) | 10 years | 10 years | |
Trade Names [Member] | |||
Intangible assets | $ 2,165 | $ 2,165 | |
Intangible assets additions/adjustments | |||
Intangible asset amortization | |||
Intangible assets | 2,165 | 2,165 | 2,165 |
Off-Market Favorable Lease [Member] | |||
Intangible assets | 150 | ||
Intangible assets additions/adjustments | 724 | ||
Intangible asset amortization | (47) | (574) | |
Intangible assets | $ 103 | $ 150 | |
Off-Market Favorable Lease [Member] | Minimum [Member] | |||
Intangible asset amortization period (Year) | 1 year 150 days | 1 year 150 days | |
Off-Market Favorable Lease [Member] | Maximum [Member] | |||
Intangible asset amortization period (Year) | 6 years 90 days | 6 years 90 days | |
Wealth [Member] | |||
Goodwill | $ 20,412 | $ 20,412 | |
Goodwill additions/adjustments | |||
Goodwill amortization | |||
Goodwill | 20,412 | 20,412 | 20,412 |
Banking [Member] | |||
Goodwill | 80,783 | 12,431 | |
Goodwill additions/adjustments | 68,352 | ||
Goodwill amortization | |||
Goodwill | 80,783 | 80,783 | 12,431 |
Insurance [Member] | |||
Goodwill | 3,570 | 2,938 | |
Goodwill additions/adjustments | 632 | ||
Goodwill amortization | |||
Goodwill | $ 3,570 | $ 3,570 | $ 2,938 |
Note 4 - Investment Securitie73
Note 4 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Available-for-sale Securities Pledged as Collateral | $ 119,400 | ||
Available-for-sale Securities, Amortized Cost Basis | 568,890 | $ 347,776 | |
Available-for-sale Securities | 566,996 | 348,966 | |
Proceeds from Sale and Maturity of Available-for-sale Securities | 276 | 64,900 | $ 24,400 |
Gain (Loss) on Sale of Investments | (77) | 931 | $ 471 |
Trading Securities | 3,888 | 3,950 | |
Held-to-maturity Securities | 2,879 | 0 | |
Mutual Funds [Member] | |||
Available-for-sale Securities, Amortized Cost Basis | 15,300 | 15,600 | |
Available-for-sale Securities | $ 15,200 | $ 15,200 |
Note 4 - Investment Securitie74
Note 4 - Investment Securities - Amortized Cost and Fair Value of Available for Sale Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Amortized Cost | $ 568,890 | $ 347,776 |
Gross Unrealized Gains | 1,669 | 2,279 |
Gross Unrealized Losses | (3,563) | (1,089) |
Fair Value | 566,996 | 348,966 |
US Treasury Securities [Member] | ||
Amortized Cost | 200,094 | 101 |
Gross Unrealized Gains | 3 | |
Gross Unrealized Losses | (1) | |
Fair Value | 200,097 | 100 |
US Government Agencies Debt Securities [Member] | ||
Amortized Cost | 83,111 | 101,342 |
Gross Unrealized Gains | 167 | 470 |
Gross Unrealized Losses | (1,080) | (317) |
Fair Value | 82,198 | 101,495 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized Cost | 33,625 | 41,892 |
Gross Unrealized Gains | 26 | 123 |
Gross Unrealized Losses | (121) | (49) |
Fair Value | 33,530 | 41,966 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized Cost | 185,997 | 157,422 |
Gross Unrealized Gains | 1,260 | 1,482 |
Gross Unrealized Losses | (1,306) | (215) |
Fair Value | 185,951 | 158,689 |
Collateralized Mortgage Obligations [Member] | ||
Amortized Cost | 49,488 | 29,756 |
Gross Unrealized Gains | 108 | 166 |
Gross Unrealized Losses | (902) | (123) |
Fair Value | 48,694 | 29,799 |
Other Debt Obligations [Member] | ||
Amortized Cost | 16,575 | 17,263 |
Gross Unrealized Gains | 105 | 38 |
Gross Unrealized Losses | (154) | (384) |
Fair Value | $ 16,526 | $ 16,917 |
Note 4 - Investment Securitie75
Note 4 - Investment Securities - Amount of Investment Securities Available for Sale in Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Less than 12 Months Fair Value | $ 226,288 | $ 134,699 |
Less than 12 Months Unrealized Losses | (3,502) | (902) |
12 Months or Longer Fair Value | 11,895 | 16,262 |
12 Months or Longer Unrealized Losses | (61) | (187) |
Total Fair Value | 238,183 | 150,961 |
Total Unrealized Losses | (3,563) | (1,089) |
US Treasury Securities [Member] | ||
Less than 12 Months Fair Value | 62,211 | 100 |
Less than 12 Months Unrealized Losses | (1,080) | (1) |
12 Months or Longer Fair Value | ||
12 Months or Longer Unrealized Losses | ||
Total Fair Value | 62,211 | 100 |
Total Unrealized Losses | (1,080) | (1) |
US States and Political Subdivisions Debt Securities [Member] | ||
Less than 12 Months Fair Value | 24,482 | 18,725 |
Less than 12 Months Unrealized Losses | (121) | (46) |
12 Months or Longer Fair Value | 2,016 | |
12 Months or Longer Unrealized Losses | (3) | |
Total Fair Value | 24,482 | 20,741 |
Total Unrealized Losses | (121) | (49) |
US Government Agencies Debt Securities [Member] | ||
Less than 12 Months Fair Value | 49,759 | |
Less than 12 Months Unrealized Losses | (317) | |
12 Months or Longer Fair Value | ||
12 Months or Longer Unrealized Losses | ||
Total Fair Value | 49,759 | |
Total Unrealized Losses | (317) | |
Collateralized Mortgage Backed Securities [Member] | ||
Less than 12 Months Fair Value | 101,433 | 55,763 |
Less than 12 Months Unrealized Losses | (1,306) | (215) |
12 Months or Longer Fair Value | ||
12 Months or Longer Unrealized Losses | ||
Total Fair Value | 101,433 | 55,763 |
Total Unrealized Losses | (1,306) | (215) |
Collateralized Mortgage Obligations [Member] | ||
Less than 12 Months Fair Value | 35,959 | 6,407 |
Less than 12 Months Unrealized Losses | (902) | (85) |
12 Months or Longer Fair Value | 2,436 | |
12 Months or Longer Unrealized Losses | (38) | |
Total Fair Value | 35,959 | 8,843 |
Total Unrealized Losses | (902) | (123) |
Other Debt Obligations [Member] | ||
Less than 12 Months Fair Value | 2,203 | 3,945 |
Less than 12 Months Unrealized Losses | (93) | (238) |
12 Months or Longer Fair Value | 11,895 | 11,810 |
12 Months or Longer Unrealized Losses | (61) | (146) |
Total Fair Value | 14,098 | 15,755 |
Total Unrealized Losses | $ (154) | $ (384) |
Note 4 - Investment Securitie76
Note 4 - Investment Securities - Investment Securities Available for Sale Classified by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | ||
Due in one year or less, amortized cost | $ 213,876 | [1] | $ 9,570 | [2] |
Due in one year or less, fair value | 213,885 | [1] | 9,574 | [2] |
Due after one year through five years, amortized cost | 40,335 | [1] | 61,368 | [2] |
Due after one year through five years, fair value | 40,270 | [1] | 61,467 | [2] |
Due after five years through ten years, amortized cost | 45,840 | [1] | 53,193 | [2] |
Due after five years through ten years, fair value | 44,914 | [1] | 53,070 | [2] |
Due after ten years, amortized cost | 18,079 | [1] | 20,904 | [2] |
Due after ten years, fair value | 18,055 | [1] | 21,141 | [2] |
Subtotal, amortized cost | 318,130 | [1] | 145,035 | [2] |
Subtotal, fair value | 317,124 | [1] | 145,252 | [2] |
Securities with no stated maturity, amortized cost | 235,485 | 187,178 | ||
Securities with no stated maturity, fair value | 234,644 | 188,488 | ||
Total, amortized cost | 553,615 | 332,213 | ||
Total, fair value | $ 551,768 | $ 333,740 | ||
[1] | Included in the investment portfolio, but not in the table above, are mutual funds with an amortized cost and fair value, as of December 31, 2016, of $15.3 million and $15.2 million, respectively, which have no stated maturity. | |||
[2] | Included in the investment portfolio, but not in the table above, are mutual funds with an amortized cost and fair value, as of December 31, 2015, of $15.6 million and $15.2 million, respectively, which have no stated maturity. |
Note 4 - Investment Securitie77
Note 4 - Investment Securities - Amortized Cost and Fair Value of Held to Maturity Investment Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Held-to-maturity Securities | $ 2,879 | $ 0 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (61) | |
Fair Value | 2,818 | $ 0 |
Collateralized Mortgage Backed Securities [Member] | ||
Held-to-maturity Securities | 2,879 | |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (61) | |
Fair Value | $ 2,818 |
Note 4 - Investment Securitie78
Note 4 - Investment Securities - Amount of Investment Securities Held to Maturity in Unrealized Loss Position (Details) $ in Thousands | Dec. 31, 2015USD ($) |
Less than 12 Months Fair Value | $ 2,818 |
Less than 12 Months Unrealized Losses | (61) |
12 Months or Longer Fair Value | |
12 Months or Longer Unrealized Losses | |
Total Fair Value | 2,818 |
Total Unrealized Losses | (61) |
Collateralized Mortgage Backed Securities [Member] | |
Less than 12 Months Fair Value | 2,818 |
Less than 12 Months Unrealized Losses | (61) |
12 Months or Longer Fair Value | |
12 Months or Longer Unrealized Losses | |
Total Fair Value | 2,818 |
Total Unrealized Losses | $ (61) |
Note 4 - Investment Securitie79
Note 4 - Investment Securities - Investment Securities Held to Maturity Classified by Contractual Maturity (Details) $ in Thousands | Dec. 31, 2016USD ($) | |
Amortized cost | $ 2,879 | |
Fair value | 2,818 | |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized cost | 2,879 | [1] |
Fair value | $ 2,818 | [1] |
[1] | Expected maturities of mortgage-related securities may differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. |
Note 5 - Loans and Leases (Deta
Note 5 - Loans and Leases (Details Textual) xbrli-pure in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 13, 2016USD ($) | Dec. 31, 2014USD ($) | |
Loans and Leases Receivable, Purchased Credit Impaired became Non-Performing Subsequent to Acquisition | $ 344 | $ 661 | ||
Purchased Credit Impaired Loans Without Estimate of Expected Cash Flows Recorded Investment | 368 | 699 | ||
Financing Receivable, Recorded Investment, Current | 2,253,143 | $ 2,524,036 | ||
Impaired Financing Receivable, Recorded Investment | $ 14,174 | 14,386 | $ 13,649 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | |||
Finance Leases Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Current | 51,280 | $ 55,492 | ||
Originated Loans [Member] | ||||
Financing Receivable, Recorded Investment, Current | $ 2,233,972 | 1,872,133 | ||
Originated Loans [Member] | Finance Leases Portfolio Segment [Member] | ||||
Financing Receivable, Recorded Investment, Current | 55,492 | 51,280 | ||
Acquired Loans [Member] | ||||
Financing Receivable, Recorded Investment, Current | 290,064 | 381,010 | ||
Impaired Loans Without Related Allowance [Member] | Finance Leases Portfolio Segment [Member] | ||||
Impaired Financing Receivable, Recorded Investment | 240 | 77 | $ 32 | |
Administratively Delinquent [Member] | ||||
Financing Receivable, Recorded Investment, Current | 15,300 | 10,500 | ||
Administratively Delinquent [Member] | Originated Loans [Member] | ||||
Financing Receivable, Recorded Investment, Current | 13,500 | 10,100 | ||
Administratively Delinquent [Member] | Acquired Loans [Member] | ||||
Financing Receivable, Recorded Investment, Current | $ 1,800 | $ 418 |
Note 5 - Loans and Leases - Cor
Note 5 - Loans and Leases - Corporations Portfolio Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 13, 2016 | Dec. 31, 2015 |
Loans held for sale | $ 9,621 | $ 8,987 | |
Portfolio loans and leases | 2,535,425 | $ 2,535,425 | 2,268,988 |
Total loans and leases | 2,545,046 | 2,277,975 | |
Loans with fixed rates | 1,130,172 | 1,103,622 | |
Loans with adjustable or floating rates | 1,414,874 | 1,174,353 | |
Net deferred loan origination fees included in the above loan table | (735) | (70) | |
Real Estate Portfolio Segment [Member] | |||
Real estate loans | 1,874,401 | 1,670,557 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Real estate loans | 1,110,898 | 964,259 | |
Portfolio loans and leases | 1,110,898 | 1,110,898 | 964,259 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Real estate loans | 207,999 | 209,473 | |
Portfolio loans and leases | 207,999 | 207,999 | 209,473 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Real estate loans | 413,540 | 406,404 | |
Portfolio loans and leases | 413,540 | 413,540 | 406,404 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Real estate loans | 141,964 | 90,421 | |
Portfolio loans and leases | 141,964 | 141,964 | 90,421 |
Commercial Portfolio Segment [Member] | |||
Commercial and industrial | 579,791 | 524,515 | |
Portfolio loans and leases | 579,791 | 579,791 | 524,515 |
Consumer Portfolio Segment [Member] | |||
Portfolio loans and leases | 25,341 | 25,341 | 22,129 |
Finance Leases Portfolio Segment [Member] | |||
Portfolio loans and leases | 55,892 | $ 55,892 | 51,787 |
Originated Loans [Member] | |||
Loans held for sale | 9,621 | 8,987 | |
Portfolio loans and leases | 2,240,987 | 1,883,869 | |
Total loans and leases | 2,250,608 | 1,892,856 | |
Loans with fixed rates | 992,917 | 932,575 | |
Loans with adjustable or floating rates | 1,257,691 | 960,281 | |
Net deferred loan origination fees included in the above loan table | (735) | (70) | |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | |||
Real estate loans | 1,609,561 | 1,347,402 | |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Real estate loans | 946,879 | 772,571 | |
Portfolio loans and leases | 946,879 | 772,571 | |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Real estate loans | 178,450 | 171,189 | |
Portfolio loans and leases | 178,450 | 171,189 | |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Real estate loans | 342,268 | 316,487 | |
Portfolio loans and leases | 342,268 | 316,487 | |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Real estate loans | 141,964 | 87,155 | |
Portfolio loans and leases | 141,964 | 87,155 | |
Originated Loans [Member] | Commercial Portfolio Segment [Member] | |||
Commercial and industrial | 550,334 | 462,746 | |
Portfolio loans and leases | 550,334 | 462,746 | |
Originated Loans [Member] | Consumer Portfolio Segment [Member] | |||
Portfolio loans and leases | 25,200 | 21,934 | |
Originated Loans [Member] | Finance Leases Portfolio Segment [Member] | |||
Portfolio loans and leases | 55,892 | 51,787 | |
Acquired Loans [Member] | |||
Portfolio loans and leases | 294,438 | 385,119 | |
Total loans and leases | 294,438 | 385,119 | |
Loans with fixed rates | 137,255 | 171,047 | |
Loans with adjustable or floating rates | 157,183 | 214,072 | |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | |||
Real estate loans | 264,840 | 323,155 | |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Real estate loans | 164,019 | 191,688 | |
Portfolio loans and leases | 164,019 | 191,688 | |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Real estate loans | 29,549 | 38,284 | |
Portfolio loans and leases | 29,549 | 38,284 | |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Real estate loans | 71,272 | 89,917 | |
Portfolio loans and leases | 71,272 | 89,917 | |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Real estate loans | 3,266 | ||
Portfolio loans and leases | 3,266 | ||
Acquired Loans [Member] | Commercial Portfolio Segment [Member] | |||
Commercial and industrial | 29,457 | 61,769 | |
Portfolio loans and leases | 29,457 | 61,769 | |
Acquired Loans [Member] | Consumer Portfolio Segment [Member] | |||
Portfolio loans and leases | 141 | 195 | |
Acquired Loans [Member] | Finance Leases Portfolio Segment [Member] | |||
Portfolio loans and leases |
Note 5 - Loans and Leases - Com
Note 5 - Loans and Leases - Components of Net Investments in Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Minimum lease payments receivable | $ 62,379 | $ 58,422 |
Unearned lease income | (8,608) | (8,919) |
Initial direct costs and deferred fees | 2,121 | 2,284 |
Total | $ 55,892 | $ 51,787 |
Note 5 - Loans and Leases - Non
Note 5 - Loans and Leases - Non-performing Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 13, 2016 | Dec. 31, 2015 |
Non-accrual loans and leases | $ 8,363 | $ 8,363 | $ 10,244 |
Originated Loans [Member] | |||
Non-accrual loans and leases | 5,168 | 7,118 | |
Acquired Loans [Member] | |||
Non-accrual loans and leases | 3,195 | 3,126 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Non-accrual loans and leases | 320 | 320 | 829 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 265 | 279 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | 55 | 550 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Non-accrual loans and leases | 2,289 | 2,289 | 2,027 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 2,169 | 1,788 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | 120 | 239 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Non-accrual loans and leases | 2,658 | 2,658 | 3,212 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 1,654 | 1,964 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | 1,004 | 1,248 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Non-accrual loans and leases | 34 | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 34 | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | |||
Commercial Portfolio Segment [Member] | |||
Non-accrual loans and leases | 2,957 | 2,957 | 4,133 |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 941 | 3,044 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | 2,016 | 1,089 | |
Consumer Portfolio Segment [Member] | |||
Non-accrual loans and leases | 2 | 2 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 2 | ||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | |||
Finance Leases Portfolio Segment [Member] | |||
Non-accrual loans and leases | 137 | $ 137 | 9 |
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | $ 137 | $ 9 |
Note 5 - Loans and Leases - Out
Note 5 - Loans and Leases - Outstanding Principal Balance and Related Carrying Amount of Credit-Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding principal balance | $ 18,091 | $ 24,879 | |
Carrying amount(1) | [1] | $ 12,432 | $ 16,846 |
[1] | Includes $368 thousand and $699 thousand of purchased credit-impaired loans as of December 31, 2016 and December 31, 2015, respectively, for which the Corporation could not estimate the timing or amount of expected cash flows to be collected at acquisition, and for which no accretable yield is recognized. Additionally, the table above includes $344 thousand and $661 thousand of purchased credit-impaired loans as of December 31, 2016 and December 31, 2015, respectively, which became non-performing subsequent to acquisition, which are disclosed in Note 5C, above, and which also have no accretable yield. |
Note 5 - Loans and Leases - Cha
Note 5 - Loans and Leases - Changes in Accretable Discount on Purchased Credit-impaired Loans (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Balance | $ 6,115 |
Accretion | (1,858) |
Reclassifications from nonaccretable difference | 182 |
Additions/adjustments | 68 |
Disposals | (1,274) |
Balance | $ 3,233 |
Note 5 - Loans and Leases - Agi
Note 5 - Loans and Leases - Aging of All Portfolio Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 13, 2016 | Dec. 31, 2015 |
Past Due | $ 3,026 | $ 5,601 | |
Current | 2,524,036 | 2,253,143 | |
Total Accruing Loans and Leases | 2,527,062 | 2,258,744 | |
Nonaccrual Loans and Leases | $ 8,363 | 8,363 | 10,244 |
Portfolio loans and leases | 2,535,425 | 2,535,425 | 2,268,988 |
Originated Loans [Member] | |||
Past Due | 1,848 | 4,618 | |
Current | 2,233,972 | 1,872,133 | |
Total Accruing Loans and Leases | 2,235,820 | 1,876,751 | |
Nonaccrual Loans and Leases | 5,168 | 7,118 | |
Portfolio loans and leases | 2,240,987 | 1,883,869 | |
Acquired Loans [Member] | |||
Past Due | 1,178 | 983 | |
Current | 290,064 | 381,010 | |
Total Accruing Loans and Leases | 291,242 | 381,993 | |
Nonaccrual Loans and Leases | 3,195 | 3,126 | |
Portfolio loans and leases | 294,438 | 385,119 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Past Due | 1,388 | 1,337 | |
Current | 1,109,190 | 962,093 | |
Total Accruing Loans and Leases | 1,110,578 | 963,430 | |
Nonaccrual Loans and Leases | 320 | 320 | 829 |
Portfolio loans and leases | 1,110,898 | 1,110,898 | 964,259 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Past Due | 722 | 1,171 | |
Current | 945,892 | 771,121 | |
Total Accruing Loans and Leases | 946,614 | 772,292 | |
Nonaccrual Loans and Leases | 265 | 279 | |
Portfolio loans and leases | 946,879 | 772,571 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Past Due | 666 | 166 | |
Current | 163,298 | 190,972 | |
Total Accruing Loans and Leases | 163,964 | 191,138 | |
Nonaccrual Loans and Leases | 55 | 550 | |
Portfolio loans and leases | 164,019 | 191,688 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Past Due | 11 | 1,611 | |
Current | 205,699 | 205,835 | |
Total Accruing Loans and Leases | 205,710 | 207,446 | |
Nonaccrual Loans and Leases | 2,289 | 2,289 | 2,027 |
Portfolio loans and leases | 207,999 | 207,999 | 209,473 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Past Due | 11 | 1,445 | |
Current | 176,270 | 167,956 | |
Total Accruing Loans and Leases | 176,281 | 169,401 | |
Nonaccrual Loans and Leases | 2,169 | 1,788 | |
Portfolio loans and leases | 178,450 | 171,189 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Past Due | 166 | ||
Current | 29,429 | 37,879 | |
Total Accruing Loans and Leases | 29,429 | 38,045 | |
Nonaccrual Loans and Leases | 120 | 239 | |
Portfolio loans and leases | 29,549 | 38,284 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Past Due | 1,313 | 1,997 | |
Current | 409,569 | 401,195 | |
Total Accruing Loans and Leases | 410,882 | 403,192 | |
Nonaccrual Loans and Leases | 2,658 | 2,658 | 3,212 |
Portfolio loans and leases | 413,540 | 413,540 | 406,404 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Past Due | 837 | 1,484 | |
Current | 339,778 | 313,039 | |
Total Accruing Loans and Leases | 340,615 | 314,523 | |
Nonaccrual Loans and Leases | 1,654 | 1,964 | |
Portfolio loans and leases | 342,268 | 316,487 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Past Due | 476 | 513 | |
Current | 69,791 | 88,156 | |
Total Accruing Loans and Leases | 70,267 | 88,669 | |
Nonaccrual Loans and Leases | 1,004 | 1,248 | |
Portfolio loans and leases | 71,272 | 89,917 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Past Due | |||
Current | 141,964 | 90,387 | |
Total Accruing Loans and Leases | 141,964 | 90,387 | |
Nonaccrual Loans and Leases | 34 | ||
Portfolio loans and leases | 141,964 | 141,964 | 90,421 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Past Due | |||
Current | 141,964 | 87,121 | |
Total Accruing Loans and Leases | 141,964 | 87,121 | |
Nonaccrual Loans and Leases | 34 | ||
Portfolio loans and leases | 141,964 | 87,155 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Past Due | |||
Current | 3,266 | ||
Total Accruing Loans and Leases | 3,266 | ||
Nonaccrual Loans and Leases | |||
Portfolio loans and leases | 3,266 | ||
Commercial Portfolio Segment [Member] | |||
Past Due | 36 | 138 | |
Current | 576,798 | 520,244 | |
Total Accruing Loans and Leases | 576,834 | 520,382 | |
Nonaccrual Loans and Leases | 2,957 | 2,957 | 4,133 |
Portfolio loans and leases | 579,791 | 579,791 | 524,515 |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | |||
Current | 549,393 | 459,702 | |
Total Accruing Loans and Leases | 549,393 | 459,702 | |
Nonaccrual Loans and Leases | 941 | 3,044 | |
Portfolio loans and leases | 550,334 | 462,746 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Past Due | 36 | 138 | |
Current | 27,405 | 60,542 | |
Total Accruing Loans and Leases | 27,441 | 60,680 | |
Nonaccrual Loans and Leases | 2,016 | 1,089 | |
Portfolio loans and leases | 29,457 | 61,769 | |
Consumer Portfolio Segment [Member] | |||
Past Due | 15 | 20 | |
Current | 25,324 | 22,109 | |
Total Accruing Loans and Leases | 25,339 | 22,129 | |
Nonaccrual Loans and Leases | 2 | 2 | |
Portfolio loans and leases | 25,341 | 25,341 | 22,129 |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | 15 | 20 | |
Current | 25,183 | 21,914 | |
Total Accruing Loans and Leases | 25,198 | 21,934 | |
Nonaccrual Loans and Leases | 2 | ||
Portfolio loans and leases | 25,200 | 21,934 | |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Past Due | |||
Current | 141 | 195 | |
Total Accruing Loans and Leases | 141 | 195 | |
Nonaccrual Loans and Leases | |||
Portfolio loans and leases | 141 | 195 | |
Finance Leases Portfolio Segment [Member] | |||
Past Due | 263 | 498 | |
Current | 55,492 | 51,280 | |
Total Accruing Loans and Leases | 55,755 | 51,778 | |
Nonaccrual Loans and Leases | 137 | 137 | 9 |
Portfolio loans and leases | 55,892 | 55,892 | 51,787 |
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | 263 | 498 | |
Current | 55,492 | 51,280 | |
Total Accruing Loans and Leases | 55,755 | 51,778 | |
Nonaccrual Loans and Leases | 137 | 9 | |
Portfolio loans and leases | 55,892 | 51,787 | |
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Portfolio loans and leases | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Past Due | 1,723 | 5,139 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Originated Loans [Member] | |||
Past Due | 971 | 4,331 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Acquired Loans [Member] | |||
Past Due | 752 | 808 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Past Due | 666 | 1,126 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Past Due | 1,016 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Past Due | 666 | 110 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Past Due | 11 | 1,596 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Past Due | 11 | 1,445 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Past Due | 151 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Past Due | 823 | 1,923 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Past Due | 773 | 1,475 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Past Due | 50 | 448 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Past Due | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Past Due | 36 | 99 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Past Due | 36 | 99 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Past Due | 10 | 20 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | 10 | 20 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | |||
Past Due | 177 | 375 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | 177 | 375 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Past Due | 1,303 | 462 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Originated Loans [Member] | |||
Past Due | 877 | 287 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Acquired Loans [Member] | |||
Past Due | 426 | 175 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Past Due | 722 | 211 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Past Due | 722 | 155 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Past Due | 56 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Past Due | 15 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Past Due | 15 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Past Due | 490 | 74 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Past Due | 64 | 9 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Past Due | 426 | 65 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Past Due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Past Due | 39 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Past Due | 39 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Past Due | 5 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | 5 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | |||
Past Due | 86 | 123 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | 86 | 123 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | |||
Past Due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Past Due |
Note 5 - Loans and Leases - Rol
Note 5 - Loans and Leases - Roll-forward of Allowance for Loan and Leases Losses by Loan Category (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ 15,857 | $ 14,586 | $ 15,857 | $ 14,586 | |||||||
Charge-offs | (3,287) | (3,454) | |||||||||
Recoveries | 590 | 329 | |||||||||
Provision for loan and lease losses | $ 1,059 | $ 1,412 | $ 445 | 1,410 | $ 1,777 | $ 1,200 | $ 850 | 569 | 4,326 | 4,396 | $ 884 |
Balance | 17,486 | 15,857 | 17,486 | 15,857 | 14,586 | ||||||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||||||||||
Balance | 5,199 | 3,948 | 5,199 | 3,948 | |||||||
Charge-offs | (110) | (50) | |||||||||
Recoveries | 62 | 27 | |||||||||
Provision for loan and lease losses | 1,076 | 1,274 | |||||||||
Balance | 6,227 | 5,199 | 6,227 | 5,199 | 3,948 | ||||||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||||||||||
Balance | 1,307 | 1,917 | 1,307 | 1,917 | |||||||
Charge-offs | (592) | (774) | |||||||||
Recoveries | 68 | 98 | |||||||||
Provision for loan and lease losses | 472 | 66 | |||||||||
Balance | 1,255 | 1,307 | 1,255 | 1,307 | 1,917 | ||||||
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||||||||||
Balance | 1,740 | 1,736 | 1,740 | 1,736 | |||||||
Charge-offs | (306) | (791) | |||||||||
Recoveries | 48 | 35 | |||||||||
Provision for loan and lease losses | 435 | 760 | |||||||||
Balance | 1,917 | 1,740 | 1,917 | 1,740 | 1,736 | ||||||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||
Balance | 1,324 | 1,367 | 1,324 | 1,367 | |||||||
Charge-offs | |||||||||||
Recoveries | 64 | 4 | |||||||||
Provision for loan and lease losses | 845 | (47) | |||||||||
Balance | 2,233 | 1,324 | 2,233 | 1,324 | 1,367 | ||||||
Commercial Portfolio Segment [Member] | |||||||||||
Balance | 5,609 | 4,533 | 5,609 | 4,533 | |||||||
Charge-offs | (1,298) | (1,220) | |||||||||
Recoveries | 93 | 35 | |||||||||
Provision for loan and lease losses | 738 | 2,261 | |||||||||
Balance | 5,142 | 5,609 | 5,142 | 5,609 | 4,533 | ||||||
Consumer Portfolio Segment [Member] | |||||||||||
Balance | 142 | 238 | 142 | 238 | |||||||
Charge-offs | (173) | (177) | |||||||||
Recoveries | 23 | 29 | |||||||||
Provision for loan and lease losses | 161 | 52 | |||||||||
Balance | 153 | 142 | 153 | 142 | 238 | ||||||
Finance Leases Portfolio Segment [Member] | |||||||||||
Balance | 518 | 468 | 518 | 468 | |||||||
Charge-offs | (808) | (442) | |||||||||
Recoveries | 232 | 101 | |||||||||
Provision for loan and lease losses | 617 | 391 | |||||||||
Balance | 559 | 518 | 559 | 518 | 468 | ||||||
Unallocated Financing Receivables [Member] | |||||||||||
Balance | $ 18 | $ 379 | 18 | 379 | |||||||
Charge-offs | |||||||||||
Recoveries | |||||||||||
Provision for loan and lease losses | (18) | (361) | |||||||||
Balance | $ 18 | $ 18 | $ 379 |
Note 5 - Loans and Leases - All
Note 5 - Loans and Leases - Allocation of Allowance for Loan and Lease Losses by Portfolio Segment Based on Methodology Used to Evaluate Loans and Leases for Impairment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Individually evaluated for impairment | $ 86 | $ 693 | |
Collectively evaluated for impairment | 17,400 | 15,164 | |
Allowance on loans and leases | 17,486 | 15,857 | $ 14,586 |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Acquired Loans [Member] | |||
Individually evaluated for impairment | 28 | ||
Collectively evaluated for impairment | |||
Allowance on loans and leases | 28 | ||
Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Originated Loans [Member] | |||
Individually evaluated for impairment | 58 | 693 | |
Collectively evaluated for impairment | 17,400 | 15,164 | |
Allowance on loans and leases | 17,458 | 15,857 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 6,227 | 5,199 | |
Allowance on loans and leases | 6,227 | 5,199 | |
Commercial Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Collectively evaluated for impairment | 6,227 | 5,199 | |
Allowance on loans and leases | 6,227 | 5,199 | |
Commercial Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Individually evaluated for impairment | 115 | ||
Collectively evaluated for impairment | 1,255 | 1,192 | |
Allowance on loans and leases | 1,255 | 1,307 | |
Commercial Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 115 | ||
Collectively evaluated for impairment | 1,255 | 1,192 | |
Allowance on loans and leases | 1,255 | 1,307 | |
Commercial Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Individually evaluated for impairment | 73 | 54 | |
Collectively evaluated for impairment | 1,844 | 1,686 | |
Allowance on loans and leases | 1,917 | 1,740 | |
Commercial Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | 28 | ||
Collectively evaluated for impairment | |||
Allowance on loans and leases | 28 | ||
Commercial Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 45 | 54 | |
Collectively evaluated for impairment | 1,844 | 1,686 | |
Allowance on loans and leases | 1,889 | 1,740 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 2,233 | 1,324 | |
Allowance on loans and leases | 2,233 | 1,324 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Collectively evaluated for impairment | 2,233 | 1,324 | |
Allowance on loans and leases | 2,233 | 1,324 | |
Commercial Portfolio Segment [Member] | |||
Individually evaluated for impairment | 5 | 519 | |
Collectively evaluated for impairment | 5,137 | 5,090 | |
Allowance on loans and leases | 5,142 | 5,609 | 4,533 |
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Allowance on loans and leases | |||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 5 | 519 | |
Collectively evaluated for impairment | 5,137 | 5,090 | |
Allowance on loans and leases | 5,142 | 5,609 | |
Consumer Portfolio Segment [Member] | |||
Individually evaluated for impairment | 8 | 5 | |
Collectively evaluated for impairment | 145 | 137 | |
Allowance on loans and leases | 153 | 142 | 238 |
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Allowance on loans and leases | |||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 8 | 5 | |
Collectively evaluated for impairment | 145 | 137 | |
Allowance on loans and leases | 153 | 142 | |
Finance Leases Portfolio Segment [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 559 | 518 | |
Allowance on loans and leases | 559 | 518 | 468 |
Finance Leases Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Allowance on loans and leases | |||
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Collectively evaluated for impairment | 559 | 518 | |
Allowance on loans and leases | 559 | 518 | |
Unallocated Financing Receivables [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 18 | ||
Allowance on loans and leases | 18 | $ 379 | |
Unallocated Financing Receivables [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Unallocated Financing Receivables [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Allowance on loans and leases | |||
Unallocated Financing Receivables [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Allowance on loans and leases | |||
Unallocated Financing Receivables [Member] | Originated Loans [Member] | |||
Collectively evaluated for impairment | 18 | ||
Allowance on loans and leases | $ 18 |
Note 5 - Loans and Leases - Car
Note 5 - Loans and Leases - Carrying Value for all Portfolio Loans and Leases by Portfolio Segment Based on Methodology Used to Evaluate Loans and Leases for Impairment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 13, 2016 | Dec. 31, 2015 |
Individually evaluated for impairment | $ 14,173 | $ 14,386 | |
Collectively evaluated for impairment | 2,508,820 | 2,237,756 | |
Purchased credit-impaired(1) | 12,432 | 16,846 | |
Portfolio loans and leases | 2,535,425 | $ 2,535,425 | 2,268,988 |
Originated Loans [Member] | |||
Individually evaluated for impairment | 9,172 | 9,797 | |
Collectively evaluated for impairment | 2,231,815 | 1,874,072 | |
Portfolio loans and leases | 2,240,987 | 1,883,869 | |
Acquired Loans [Member] | |||
Individually evaluated for impairment | 5,001 | 4,589 | |
Collectively evaluated for impairment | 277,005 | 363,684 | |
Purchased credit-impaired(1) | 12,432 | 16,846 | |
Portfolio loans and leases | 294,438 | 385,119 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Individually evaluated for impairment | 1,576 | 349 | |
Collectively evaluated for impairment | 1,098,788 | 952,448 | |
Purchased credit-impaired(1) | 10,534 | 11,462 | |
Portfolio loans and leases | 1,110,898 | 1,110,898 | 964,259 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 1,521 | 279 | |
Collectively evaluated for impairment | 945,358 | 772,292 | |
Portfolio loans and leases | 946,879 | 772,571 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | 55 | 70 | |
Collectively evaluated for impairment | 153,430 | 180,156 | |
Purchased credit-impaired(1) | 10,534 | 11,462 | |
Portfolio loans and leases | 164,019 | 191,688 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Individually evaluated for impairment | 2,354 | 1,980 | |
Collectively evaluated for impairment | 205,540 | 207,378 | |
Purchased credit-impaired(1) | 105 | 115 | |
Portfolio loans and leases | 207,999 | 207,999 | 209,473 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 2,319 | 1,832 | |
Collectively evaluated for impairment | 176,131 | 169,357 | |
Portfolio loans and leases | 178,450 | 171,189 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | 35 | 148 | |
Collectively evaluated for impairment | 29,409 | 38,021 | |
Purchased credit-impaired(1) | 105 | 115 | |
Portfolio loans and leases | 29,549 | 38,284 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Individually evaluated for impairment | 7,266 | 7,754 | |
Collectively evaluated for impairment | 406,271 | 398,635 | |
Purchased credit-impaired(1) | 3 | 15 | |
Portfolio loans and leases | 413,540 | 413,540 | 406,404 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 4,111 | 4,394 | |
Collectively evaluated for impairment | 338,157 | 312,093 | |
Portfolio loans and leases | 342,268 | 316,487 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | 3,155 | 3,360 | |
Collectively evaluated for impairment | 68,114 | 86,542 | |
Purchased credit-impaired(1) | 3 | 15 | |
Portfolio loans and leases | 71,272 | 89,917 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Individually evaluated for impairment | 33 | ||
Collectively evaluated for impairment | 141,964 | 89,625 | |
Purchased credit-impaired(1) | 763 | ||
Portfolio loans and leases | 141,964 | 141,964 | 90,421 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 33 | ||
Collectively evaluated for impairment | 141,964 | 87,122 | |
Portfolio loans and leases | 141,964 | 87,155 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 2,503 | ||
Purchased credit-impaired(1) | 763 | ||
Portfolio loans and leases | 3,266 | ||
Commercial Portfolio Segment [Member] | |||
Individually evaluated for impairment | 2,946 | 4,240 | |
Collectively evaluated for impairment | 575,055 | 515,784 | |
Purchased credit-impaired(1) | 1,790 | 4,491 | |
Portfolio loans and leases | 579,791 | 579,791 | 524,515 |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 1,190 | 3,229 | |
Collectively evaluated for impairment | 549,144 | 459,517 | |
Portfolio loans and leases | 550,334 | 462,746 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | 1,756 | 1,011 | |
Collectively evaluated for impairment | 25,911 | 56,267 | |
Purchased credit-impaired(1) | 1,790 | 4,491 | |
Portfolio loans and leases | 29,457 | 61,769 | |
Consumer Portfolio Segment [Member] | |||
Individually evaluated for impairment | 31 | 30 | |
Collectively evaluated for impairment | 25,310 | 22,099 | |
Purchased credit-impaired(1) | |||
Portfolio loans and leases | 25,341 | 25,341 | 22,129 |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | 31 | 30 | |
Collectively evaluated for impairment | 25,169 | 21,904 | |
Portfolio loans and leases | 25,200 | 21,934 | |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 141 | 195 | |
Purchased credit-impaired(1) | |||
Portfolio loans and leases | 141 | 195 | |
Finance Leases Portfolio Segment [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 55,892 | 51,787 | |
Purchased credit-impaired(1) | |||
Portfolio loans and leases | 55,892 | $ 55,892 | 51,787 |
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 55,892 | 51,787 | |
Portfolio loans and leases | 55,892 | 51,787 | |
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Purchased credit-impaired(1) | |||
Portfolio loans and leases |
Note 5 - Loans and Leases - C90
Note 5 - Loans and Leases - Carrying Value of all Portfolio Loans and Leases by Portfolio Segment Based on Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 13, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses | $ 2,535,425 | $ 2,535,425 | $ 2,268,988 |
Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,240,987 | 1,883,869 | |
Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 294,438 | 385,119 | |
Pass [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,810,269 | 1,545,580 | |
Pass [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,621,983 | 1,298,759 | |
Pass [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 188,286 | 246,821 | |
Special Mention [Member] | |||
Financing Receivable, Allowance for Credit Losses | 4,207 | 8,152 | |
Special Mention [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 4,171 | 8,044 | |
Special Mention [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 36 | 108 | |
Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses | 16,555 | 25,463 | |
Substandard [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 12,898 | 15,669 | |
Substandard [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 3,657 | 9,794 | |
Doubtful [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,622 | ||
Doubtful [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 125 | ||
Doubtful [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,497 | ||
Pass, Special Mention and Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,832,653 | 1,579,195 | |
Pass, Special Mention and Substandard [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,639,177 | 1,322,472 | |
Pass, Special Mention and Substandard [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 193,476 | 256,723 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,110,898 | 1,110,898 | 964,259 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 946,879 | 772,571 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 164,019 | 191,688 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,099,557 | 946,887 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 936,737 | 758,240 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 162,820 | 188,647 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Special Mention [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,892 | 7,029 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,892 | 7,029 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Special Mention [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses | 9,449 | 10,343 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Substandard [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 8,250 | 7,302 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,199 | 3,041 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Doubtful [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Doubtful [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Doubtful [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass, Special Mention and Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,110,898 | 964,259 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass, Special Mention and Substandard [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 946,879 | 772,571 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass, Special Mention and Substandard [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 164,019 | 191,688 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 141,964 | 141,964 | 90,421 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 141,964 | 87,155 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 3,266 | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | |||
Financing Receivable, Allowance for Credit Losses | 140,370 | 88,653 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 140,370 | 86,065 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,588 | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,594 | 1,768 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,594 | 1,090 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 678 | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass, Special Mention and Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses | 141,964 | 90,421 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass, Special Mention and Substandard [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 141,964 | 87,155 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass, Special Mention and Substandard [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 3,266 | ||
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 579,791 | $ 579,791 | 524,515 |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 550,334 | 462,746 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 29,457 | 61,769 | |
Commercial Portfolio Segment [Member] | Pass [Member] | |||
Financing Receivable, Allowance for Credit Losses | 570,342 | 510,040 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 544,876 | 454,454 | |
Commercial Portfolio Segment [Member] | Pass [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 25,466 | 55,586 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,315 | 1,123 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,279 | 1,015 | |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 36 | 108 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses | 5,512 | 13,352 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 3,054 | 7,277 | |
Commercial Portfolio Segment [Member] | Substandard [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,458 | 6,075 | |
Commercial Portfolio Segment [Member] | Doubtful [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,622 | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 125 | ||
Commercial Portfolio Segment [Member] | Doubtful [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,497 | ||
Commercial Portfolio Segment [Member] | Pass, Special Mention and Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses | 579,791 | 524,515 | |
Commercial Portfolio Segment [Member] | Pass, Special Mention and Substandard [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 550,334 | 462,746 | |
Commercial Portfolio Segment [Member] | Pass, Special Mention and Substandard [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | $ 29,457 | $ 61,769 |
Note 5 - Loans and Leases - C91
Note 5 - Loans and Leases - Carrying Value of all Portfolio Loans and Leases by Portfolio Segment Based on Credit Risk Profile by Payment Activity (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 13, 2016 | Dec. 31, 2015 |
Financing Receivable, Allowance for Credit Losses | $ 2,535,425 | $ 2,535,425 | $ 2,268,988 |
Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,240,987 | 1,883,869 | |
Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 294,438 | 385,119 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses | 413,540 | 413,540 | 406,404 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 342,268 | 316,487 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 71,272 | 89,917 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses | 207,999 | 207,999 | 209,473 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 178,450 | 171,189 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 29,549 | 38,284 | |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 25,341 | 25,341 | 22,129 |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 25,200 | 21,934 | |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 141 | 195 | |
Finance Leases Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 55,892 | $ 55,892 | 51,787 |
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 55,892 | 51,787 | |
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Losses | 697,686 | 684,545 | |
Performing Financial Instruments [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 597,849 | 557,636 | |
Performing Financial Instruments [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 99,837 | 126,909 | |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses | 410,882 | 403,192 | |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 340,615 | 314,523 | |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 70,267 | 88,669 | |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses | 205,710 | 207,446 | |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 176,281 | 169,401 | |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 29,429 | 38,045 | |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 25,339 | 22,129 | |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 25,198 | 21,934 | |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 141 | 195 | |
Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 55,755 | 51,778 | |
Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 55,755 | 51,778 | |
Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Losses | 5,086 | 5,248 | |
Nonperforming Financial Instruments [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 3,961 | 3,761 | |
Nonperforming Financial Instruments [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,125 | 1,487 | |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,658 | 3,212 | |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,653 | 1,964 | |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 1,005 | 1,248 | |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,289 | 2,027 | |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2,169 | 1,788 | |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 120 | 239 | |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2 | ||
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 2 | ||
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | |||
Nonperforming Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 137 | 9 | |
Nonperforming Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 137 | 9 | |
Performing and Non-performing [Member] | |||
Financing Receivable, Allowance for Credit Losses | 702,772 | 689,793 | |
Performing and Non-performing [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 601,810 | 561,397 | |
Performing and Non-performing [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 100,962 | 128,396 | |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses | 413,540 | 406,404 | |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 342,268 | 316,487 | |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 71,272 | 89,917 | |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses | 207,999 | 209,473 | |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 178,450 | 171,189 | |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 29,549 | 38,284 | |
Performing and Non-performing [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 25,341 | 22,129 | |
Performing and Non-performing [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 25,200 | 21,934 | |
Performing and Non-performing [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | 141 | 195 | |
Performing and Non-performing [Member] | Finance Leases Portfolio Segment [Member] | |||
Financing Receivable, Allowance for Credit Losses | 55,892 | 51,787 | |
Performing and Non-performing [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses | $ 55,892 | $ 51,787 |
Note 5 - Loans and Leases - Bal
Note 5 - Loans and Leases - Balance of Troubled Debt Restructurings (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Troubled Debt Restructurings | $ 9,027 | $ 6,815 |
Nonperforming Financial Instruments [Member] | ||
Troubled Debt Restructurings | 2,632 | 1,935 |
Performing Financial Instruments [Member] | ||
Troubled Debt Restructurings | $ 6,395 | $ 4,880 |
Note 5 - Loans and Leases - Loa
Note 5 - Loans and Leases - Loan and Lease Modifications Categorized as Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Number of Contracts | 16 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 2,772 | $ 2,269 |
Post-Modification Outstanding Recorded Investment | $ 2,779 | $ 2,269 |
Contractual Interest Rate Reduction [Member] | ||
Number of Contracts | ||
Extended Maturity [Member] | ||
Number of Contracts | 4 | |
Interest Rate Change and Term Extension [Member] | ||
Number of Contracts | 2 | 2 |
Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of Contracts | 6 | 3 |
Contractual Payment Reduction (Leases only) [Member] | ||
Number of Contracts | 3 | 2 |
Payment Deferral [Member] | ||
Number of Contracts | 1 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | ||
Number of Contracts | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 1,256 | |
Post-Modification Outstanding Recorded Investment | $ 1,256 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Contractual Interest Rate Reduction [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Extended Maturity [Member] | ||
Number of Contracts | 1 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Interest Rate Change and Term Extension [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Contractual Payment Reduction (Leases only) [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Payment Deferral [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Number of Contracts | 2 | 4 |
Pre-Modification Outstanding Recorded Investment | $ 141 | $ 2,181 |
Post-Modification Outstanding Recorded Investment | $ 148 | $ 2,181 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Contractual Interest Rate Reduction [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Extended Maturity [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Interest Rate Change and Term Extension [Member] | ||
Number of Contracts | 2 | 2 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of Contracts | 2 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Contractual Payment Reduction (Leases only) [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Payment Deferral [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Number of Contracts | 6 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 265 | $ 22 |
Post-Modification Outstanding Recorded Investment | $ 265 | $ 22 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Contractual Interest Rate Reduction [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Extended Maturity [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Interest Rate Change and Term Extension [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of Contracts | 6 | 1 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Contractual Payment Reduction (Leases only) [Member] | ||
Number of Contracts | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Payment Deferral [Member] | ||
Number of Contracts | ||
Finance Leases Portfolio Segment [Member] | ||
Number of Contracts | 3 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 104 | $ 66 |
Post-Modification Outstanding Recorded Investment | $ 104 | $ 66 |
Finance Leases Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Number of Contracts | ||
Finance Leases Portfolio Segment [Member] | Extended Maturity [Member] | ||
Number of Contracts | ||
Finance Leases Portfolio Segment [Member] | Interest Rate Change and Term Extension [Member] | ||
Number of Contracts | ||
Finance Leases Portfolio Segment [Member] | Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of Contracts | ||
Finance Leases Portfolio Segment [Member] | Contractual Payment Reduction (Leases only) [Member] | ||
Number of Contracts | 3 | 2 |
Finance Leases Portfolio Segment [Member] | Payment Deferral [Member] | ||
Number of Contracts | ||
Commercial Portfolio Segment [Member] | ||
Number of Contracts | 4 | |
Pre-Modification Outstanding Recorded Investment | $ 1,006 | |
Post-Modification Outstanding Recorded Investment | $ 1,006 | |
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||
Number of Contracts | ||
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | ||
Number of Contracts | 3 | |
Commercial Portfolio Segment [Member] | Interest Rate Change and Term Extension [Member] | ||
Number of Contracts | ||
Commercial Portfolio Segment [Member] | Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of Contracts | ||
Commercial Portfolio Segment [Member] | Contractual Payment Reduction (Leases only) [Member] | ||
Number of Contracts | ||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||
Number of Contracts | 1 |
Note 5 - Loans and Leases - Rec
Note 5 - Loans and Leases - Recorded Investment and Principal Balance of Impaired Loans by Portfolio Segment Their Related Allowance and Interest Income Recognized (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Impaired loans with related allowance, recorded investment | $ 737 | $ 2,671 | $ 5,484 |
Impaired loans with related allowance, principal balance | 737 | 2,674 | 6,017 |
Impaired loans, related allowance | 86 | 693 | 668 |
Impaired loans with related allowance, average principal balance | 775 | 2,902 | 6,095 |
Impaired loans with related allowance, interest income recognized | 34 | 77 | 162 |
Impaired loans without related allowance, recorded investment | 13,437 | 11,715 | 8,165 |
Impaired loans without related allowance, principal balance | 15,017 | 15,056 | 9,656 |
Impaired loans without related allowance, average principal balance | 20,322 | 17,123 | 10,421 |
Impaired loans without related allowance, interest income recognized | 517 | 436 | 179 |
Impaired loans, recorded investment | 14,174 | 14,386 | 13,649 |
Impaired loans, principal balance | 15,754 | 17,730 | 15,673 |
Impaired loans, average principal balance | 21,097 | 20,025 | 16,516 |
Impaired loans, interest income recognized | 551 | 513 | 341 |
Real Estate Portfolio Segment [Member] | |||
Impaired loans with related allowance, recorded investment | 622 | ||
Impaired loans with related allowance, principal balance | 622 | ||
Impaired loans, related allowance | 73 | ||
Impaired loans with related allowance, average principal balance | 639 | ||
Impaired loans with related allowance, interest income recognized | 27 | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Impaired loans with related allowance, recorded investment | 115 | 111 | |
Impaired loans with related allowance, principal balance | 115 | 198 | |
Impaired loans, related allowance | 115 | 4 | |
Impaired loans with related allowance, average principal balance | 125 | 197 | |
Impaired loans with related allowance, interest income recognized | 4 | ||
Impaired loans without related allowance, recorded investment | 2,354 | 1,865 | 1,044 |
Impaired loans without related allowance, principal balance | 2,778 | 2,447 | 1,137 |
Impaired loans without related allowance, average principal balance | 2,833 | 2,605 | 1,251 |
Impaired loans without related allowance, interest income recognized | 25 | 46 | 12 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Impaired loans with related allowance, recorded investment | 515 | 3,273 | |
Impaired loans with related allowance, principal balance | 527 | 3,260 | |
Impaired loans, related allowance | 54 | 184 | |
Impaired loans with related allowance, average principal balance | 531 | 3,289 | |
Impaired loans with related allowance, interest income recognized | 23 | 112 | |
Impaired loans without related allowance, recorded investment | 6,644 | 7,239 | 5,369 |
Impaired loans without related allowance, principal balance | 6,970 | 8,166 | 5,794 |
Impaired loans without related allowance, average principal balance | 7,544 | 8,085 | 6,210 |
Impaired loans without related allowance, interest income recognized | 276 | 257 | 152 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Impaired loans without related allowance, recorded investment | 1,577 | 349 | 97 |
Impaired loans without related allowance, principal balance | 1,577 | 358 | 97 |
Impaired loans without related allowance, average principal balance | 1,583 | 361 | 103 |
Impaired loans without related allowance, interest income recognized | 70 | 9 | 4 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Impaired loans without related allowance, recorded investment | 33 | 264 | |
Impaired loans without related allowance, principal balance | 996 | 1,225 | |
Impaired loans without related allowance, average principal balance | 1,087 | 1,427 | |
Impaired loans without related allowance, interest income recognized | |||
Commercial Portfolio Segment [Member] | |||
Impaired loans with related allowance, recorded investment | 84 | 2,011 | 2,069 |
Impaired loans with related allowance, principal balance | 84 | 2,002 | 2,527 |
Impaired loans, related allowance | 5 | 519 | 448 |
Impaired loans with related allowance, average principal balance | 103 | 2,215 | 2,577 |
Impaired loans with related allowance, interest income recognized | 5 | 49 | 49 |
Impaired loans without related allowance, recorded investment | 2,862 | 2,229 | 1,391 |
Impaired loans without related allowance, principal balance | 3,692 | 3,089 | 1,403 |
Impaired loans without related allowance, average principal balance | 8,362 | 4,985 | 1,430 |
Impaired loans without related allowance, interest income recognized | 146 | 124 | 11 |
Consumer Portfolio Segment [Member] | |||
Impaired loans with related allowance, recorded investment | 31 | 30 | 31 |
Impaired loans with related allowance, principal balance | 31 | 30 | 32 |
Impaired loans, related allowance | 8 | 5 | 32 |
Impaired loans with related allowance, average principal balance | 33 | 31 | 32 |
Impaired loans with related allowance, interest income recognized | $ 2 | $ 1 | $ 1 |
Note 5 - Loans and Leases - L95
Note 5 - Loans and Leases - Loan Acquired (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding Principal | $ 306,725 | $ 402,228 |
Remaining Loan Mark | (12,287) | (17,109) |
Recorded Investment | 294,438 | 385,119 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | ||
Outstanding Principal | 168,612 | 197,532 |
Remaining Loan Mark | (4,593) | (5,844) |
Recorded Investment | 164,019 | 191,688 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Outstanding Principal | 31,236 | 40,258 |
Remaining Loan Mark | (1,687) | (1,974) |
Recorded Investment | 29,549 | 38,284 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Outstanding Principal | 73,902 | 93,230 |
Remaining Loan Mark | (2,630) | (3,313) |
Recorded Investment | 71,272 | 89,917 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Outstanding Principal | 3,807 | |
Remaining Loan Mark | (541) | |
Recorded Investment | 3,266 | |
Commercial Portfolio Segment [Member] | ||
Outstanding Principal | 32,812 | 67,181 |
Remaining Loan Mark | (3,355) | (5,412) |
Recorded Investment | 29,457 | 61,769 |
Consumer Portfolio Segment [Member] | ||
Outstanding Principal | 163 | 220 |
Remaining Loan Mark | (22) | (25) |
Recorded Investment | $ 141 | $ 195 |
Note 6 - Other Real Estate Ow96
Note 6 - Other Real Estate Owned (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ 2,638 | $ 1,147 | |
Additions | 355 | 2,673 | |
Impairments | (94) | (89) | |
Sales | (1,882) | (1,093) | |
Balance | $ 1,017 | $ 2,638 | $ 1,147 |
Note 7 - Premises and Equipme97
Note 7 - Premises and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Depreciation, Amortization and Accretion, Net | $ 5.8 | $ 5.1 | $ 3.6 |
Operating Leases, Rent Expense | $ 4.6 | $ 5.1 | $ 3.3 |
Note 7 - Premises and Equipme98
Note 7 - Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Less: accumulated depreciation | $ (50,225) | $ (44,641) |
Total | 41,778 | 45,339 |
Land [Member] | ||
Premises and equipment | 5,306 | 5,306 |
Building [Member] | ||
Premises and equipment | 24,998 | 24,820 |
Furniture and Equipment [Member] | ||
Premises and equipment | 36,930 | 34,758 |
Leasehold Improvements [Member] | ||
Premises and equipment | 24,713 | 24,596 |
Construction in Progress [Member] | ||
Premises and equipment | $ 56 | $ 500 |
Note 7 - Premises and Equipme99
Note 7 - Premises and Equipment - Future Minimum Cash Rent Commitments under Various Operating Leases (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,016 | $ 4,234 |
2,017 | 4,166 |
2,018 | 3,908 |
2,019 | 3,345 |
2,020 | 2,721 |
2021 and thereafter | 13,109 |
Total | $ 31,483 |
Note 8 - Mortgage Servicing 100
Note 8 - Mortgage Servicing Rights ("MSR"s) (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Sensitivity Analysis of Fair Value of Interests Continued to Be Held by Transfer or Servicing Assets or Liabilities, Percent, Adverse Change in Assumption, Low | 10.00% | ||
Sensitivity Analysis of Fair Value of Interests Continued to Be Held by Transferor Servicing Assets or Liabilities, Percent, Adverse Change in Assumption, High | 20.00% | ||
Servicing Asset at Amortized Cost, Fair Value | $ 6,154 | $ 5,726 | $ 5,456 |
Note 8 - Mortgage Servicing 101
Note 8 - Mortgage Servicing Rights ("MSR"s) - Summary of Activity Related to Mortgage Servicing Rights (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ 5,142 | $ 4,765 | $ 4,750 |
Additions | 1,321 | 1,037 | 547 |
Amortization | (750) | (590) | (476) |
Impairment | (131) | (70) | (56) |
Balance | 5,582 | 5,142 | 4,765 |
Fair value | 6,154 | 5,726 | 5,456 |
Residential mortgage loans serviced for others | $ 631,889 | $ 601,939 | $ 590,660 |
Note 8 - Mortgage Servicing 102
Note 8 - Mortgage Servicing Rights ("MSR"s) - Summarized Corporation's Activity Related to Changes in Impairment Valuation Allowance of MSRs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ (1,674) | $ (1,604) | $ (1,548) |
Impairment | (715) | (123) | (97) |
Recovery | 584 | 53 | 41 |
Balance | $ (1,805) | $ (1,674) | $ (1,604) |
Note 8 - Mortgage Servicing 103
Note 8 - Mortgage Servicing Rights ("MSR"s) - Summary of Key Economic Assumptions and Sensitivity of Current Fair Value of MSRs (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Fair value | $ 6,154 | $ 5,726 | $ 5,456 | |
Weighted average life (in years) (Year) | 6 years 109 days | |||
Prepayment speeds (constant prepayment rate)* | [1] | 10.20% | ||
10% adverse change | $ (115) | |||
20% adverse change | $ (238) | |||
Discount rate | 9.55% | |||
10% adverse change | $ (225) | |||
20% adverse change | $ (434) | |||
[1] | Represents the weighted average prepayment rate for the life of the MSR asset. |
Note 9 - Deposits (Details Text
Note 9 - Deposits (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Bank Overdrafts | $ 818 | $ 840 |
Note 9 - Deposits - Components
Note 9 - Deposits - Components of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Savings | $ 232,193 | $ 187,299 | |
NOW accounts* | [1] | 380,057 | 339,366 |
Market rate accounts* | [1] | 835,296 | 816,938 |
Retail time deposits, less than $100 | 139,276 | 123,113 | |
Retail time deposits, $100 or more | 183,636 | 106,140 | |
Wholesale time deposits | 73,037 | 53,185 | |
Total interest-bearing deposits | 1,843,495 | 1,626,041 | |
Non-interest-bearing | 736,180 | 626,684 | |
Total deposits | $ 2,579,675 | $ 2,252,725 | |
[1] | Includes wholesale deposits |
Note 9 - Deposits - Details of
Note 9 - Deposits - Details of Maturities of Retail Time Deposits (Details) $ in Thousands | Dec. 31, 2016USD ($) |
The 100,000 Dollars or More [Member] | |
2,017 | $ 154,965 |
2,018 | 16,281 |
2,019 | 4,982 |
2,020 | 3,044 |
2021 and thereafter | 4,364 |
Total | 183,636 |
Less than 100,000 Dollars [Member] | |
2,017 | 107,043 |
2,018 | 17,152 |
2,019 | 8,011 |
2,020 | 3,466 |
2021 and thereafter | 3,604 |
Total | $ 139,276 |
Note 9 - Deposits - Details 107
Note 9 - Deposits - Details of Maturities of Wholesale Time Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Wholesale Time Deposits, $100,000 or More [Member] | ||
2,017 | $ 72,783 | $ 254 |
Wholesale Time Deposits, Less than $100,000 [Member] | ||
Total | $ 72,783 | $ 254 |
Note 10 - Short-term Borrowi108
Note 10 - Short-term Borrowings and Long-term FHLB Advances (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Short-term Debt | $ 204,151 | $ 94,167 |
Other Long-term Debt | 189,742 | 254,863 |
Federal Home Loan Bank Stock | 17,305 | 12,942 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 1,220,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 886,000 | |
Federal Reserve Discount Window [Member] | ||
Federal Home Loan Bank Stock | 17,300 | 12,900 |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 117,300 | |
Overnight Federal Funds [Member] | ||
Short-term Debt | 30,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 79,000 | |
Revolving Line of Credit with Correspondent Bank [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 5,000 | |
Convertible-fixed [Member] | ||
Other Long-term Debt | $ 21,130 | $ 21,251 |
Note 10 - Short-term Borrowi109
Note 10 - Short-term Borrowings and Long-term FHLB Advances - Summary of Short-term Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Short-term borrowings | $ 204,151 | $ 94,167 | |
Repurchase Agreements Commercial Customers [Member] | |||
Short-term borrowings | [1] | 39,151 | 29,156 |
Repurchase Agreements Correspondent Bank [Member] | |||
Short-term borrowings | 5,011 | ||
Federal Home Loan Bank Advances [Member] | |||
Short-term borrowings | 165,000 | 30,000 | |
Overnight Federal Funds [Member] | |||
Short-term borrowings | $ 30,000 | ||
[1] | overnight repurchase agreements with no expiration date |
Note 10 - Short-term Borrowi110
Note 10 - Short-term Borrowings and Long-term FHLB Advances - Information Concerning Short-term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Balance at period-end | $ 204,151 | $ 94,167 |
Maximum amount outstanding at any month end | 204,151 | 94,167 |
Average balance outstanding during the period | $ 37,041 | $ 36,010 |
As of the period-end | 0.66% | 0.56% |
Paid during the period | 0.25% | 0.13% |
Note 10 - Short-term Borrowi111
Note 10 - Short-term Borrowings and Long-term FHLB Advances - Maturity of FHLB Advances and Other Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Total | $ 189,742 | $ 254,863 |
Federal Home Loan Bank Advances [Member] | ||
Within one year | 75,000 | 75,000 |
Over one year through five years | 114,742 | 179,863 |
Total | $ 189,742 | $ 254,863 |
Note 10 - Short-term Borrowi112
Note 10 - Short-term Borrowings and Long-term FHLB Advances - Rate and Maturity Information on Federal Home Loan Bank Advances and Other Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Balance | $ 189,742 | $ 254,863 | |
Bullet Maturity [Member] | Fixed Rate [Member] | |||
Maturity Start Range | [1] | Feb. 1, 2017 | |
Maturity End Range | [1] | Dec. 9, 2020 | |
Balance | $ 153,612 | 198,612 | |
Bullet Maturity [Member] | Fixed Rate [Member] | Weighted Average [Member] | |||
Interest Rate | 1.44% | ||
Bullet Maturity [Member] | Fixed Rate [Member] | Minimum [Member] | |||
Interest Rate | 0.80% | ||
Bullet Maturity [Member] | Fixed Rate [Member] | Maximum [Member] | |||
Interest Rate | 2.13% | ||
Bullet Maturity [Member] | Variable Rate [Member] | |||
Maturity Start Range | [1] | Nov. 28, 2017 | |
Maturity End Range | [1] | Nov. 28, 2017 | |
Balance | $ 15,000 | 35,000 | |
Bullet Maturity [Member] | Variable Rate [Member] | Weighted Average [Member] | |||
Interest Rate | 1.08% | ||
Bullet Maturity [Member] | Variable Rate [Member] | Minimum [Member] | |||
Interest Rate | 1.08% | ||
Bullet Maturity [Member] | Variable Rate [Member] | Maximum [Member] | |||
Interest Rate | 1.08% | ||
Convertible-fixed [Member] | |||
Maturity Start Range | [1] | Jan. 3, 2018 | |
Maturity End Range | [1] | Aug. 20, 2018 | |
Balance | $ 21,130 | $ 21,251 | |
Convertible-fixed [Member] | Weighted Average [Member] | |||
Interest Rate | 2.94% | ||
Convertible-fixed [Member] | Minimum [Member] | |||
Interest Rate | 2.58% | ||
Convertible-fixed [Member] | Maximum [Member] | |||
Interest Rate | 3.50% | ||
[1] | Maturity range and interest rates refers to December 31, 2016 balances |
Note 11 - Subordinated Notes (D
Note 11 - Subordinated Notes (Details Textual) - USD ($) $ in Thousands | Aug. 06, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2012 |
Debt Instrument, Face Amount | $ 15,000 | ||||
Proceeds from Issuance of Subordinated Long-term Debt | $ 29,500 | $ 29,456 | |||
Subordinated Debt [Member] | |||||
Debt Instrument, Face Amount | $ 30,000 | ||||
Debt Instrument, Redemption Price, Percentage | 100.00% | ||||
Subordinated Debt [Member] | Interest Rate From Date of Issuance Until August 14, 2020 [Member] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | ||||
Subordinated Debt [Member] | Interest Rate From Date of Issuance Until August 14, 2020 [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Debt Instrument, Basis Spread on Variable Rate | 3.068% |
Note 12 - Derivatives and He114
Note 12 - Derivatives and Hedging Activities (Details Textual) xbrli-pure in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2012USD ($) | |
Debt Instrument, Face Amount | $ 15,000 | |||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | $ 0 | $ 214 | $ 0 | |
Derivative, Number of Instruments Held | 0 | 0 | ||
Interest Rate Swap [Member] | ||||
Derivative Instruments, Loss Recognized in Other Comprehensive Income (Loss), Effective Portion | $ 372 | |||
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net | 611 | $ 0 | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | $ 214 |
Note 12 - Derivatives and He115
Note 12 - Derivatives and Hedging - Derivatives and Hedging Activities (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Notional amount | $ 15,000 |
Trade date | Dec. 13, 2012 |
Effective date | Nov. 30, 2015 |
Maturity date | Nov. 28, 2022 |
Receive (variable index) | US 3-Month LIBOR |
Current projected receive rate | 2.335% |
Pay fixed swap rate | 2.376% |
Fair value of asset (liability) | $ (39) |
Note 13 - Disclosure about F116
Note 13 - Disclosure about Fair Value of Financial Instruments (Details Textual) - Impaired Loans [Member] | 12 Months Ended |
Dec. 31, 2016 | |
Minimum [Member] | |
Fair Value Assumptions, Discount on Appraisals of Collateral Securing Loan | 10.00% |
Maximum [Member] | |
Fair Value Assumptions, Discount on Appraisals of Collateral Securing Loan | 50.00% |
Note 13 - Disclosure about F117
Note 13 - Disclosure about Fair Value of Financial Instruments - Carrying Amount, Estimated Fair Value and Fair Value Hierarchy Level (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | |
Investment securities - available for sale | $ 566,996 | $ 348,966 | |
Investment securities, trading | 3,888 | 3,950 | |
Investment securities held to maturity, fair value | 2,818 | 0 | |
Balance | 189,742 | 254,863 | |
Reported Value Measurement [Member] | |||
Investment securities - available for sale | [1] | 566,996 | 348,966 |
Total financial assets | 3,192,135 | 2,793,514 | |
Total financial liabilities | 3,040,403 | 2,665,286 | |
Estimate of Fair Value Measurement [Member] | |||
Investment securities - available for sale | [1] | 566,996 | 348,966 |
Total financial assets | 3,180,253 | 2,814,914 | |
Total financial liabilities | 3,036,556 | 2,662,160 | |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Cash and cash equivalents | 50,765 | 143,067 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Cash and cash equivalents | 50,765 | 143,067 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Investment securities, trading | 3,888 | 3,950 | |
Investment securities held to maturity, fair value | 2,879 | ||
Loans held for sale | 9,621 | 8,987 | |
Deposits | 2,579,675 | 2,252,725 | |
Short-term borrowings | 204,151 | 94,167 | |
Balance | 189,742 | 254,863 | |
Subordinated notes | 29,532 | 29,479 | |
Other liabilities | 37,303 | 34,052 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Investment securities, trading | 3,888 | 3,950 | |
Investment securities held to maturity, fair value | 2,818 | ||
Loans held for sale | 9,621 | 8,987 | |
Deposits | 2,579,011 | 2,251,703 | |
Short-term borrowings | 204,151 | 94,156 | |
Balance | 186,863 | 254,796 | |
Subordinated notes | 29,228 | 27,453 | |
Other liabilities | 37,303 | 34,052 | |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Net portfolio loans and leases | 2,517,939 | 2,253,131 | |
Mortgage servicing rights | 5,582 | 5,142 | |
Other assets | 34,465 | 30,271 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Net portfolio loans and leases | 2,505,546 | 2,273,947 | |
Mortgage servicing rights | 6,154 | 5,726 | |
Other assets | $ 34,465 | $ 30,271 | |
[1] | see Note 14 in the Notes to Consolidated Financial Statements for a description of hierarchy levels. |
Note 14 - Fair Value Measure118
Note 14 - Fair Value Measurement (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Allowance for Loan and Lease Losses [Member] | ||
Valuation Allowances and Reserves, Period Increase (Decrease) | $ (607) | $ 448 |
Note 14 - Fair Value Measure119
Note 14 - Fair Value Measurement - Fair Value of Assets Measured on Recurring and Non-recurring Basis (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Assets measured on a recurring basis | $ 573.7 | $ 352.9 |
Assets measured at fair value on a non-recurring basis | 21.5 | 22.1 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | 219.2 | 19.3 |
Assets measured at fair value on a non-recurring basis | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | 354.5 | 333.6 |
Assets measured at fair value on a non-recurring basis | ||
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis | ||
Assets measured at fair value on a non-recurring basis | 21.5 | 22.1 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured on a recurring basis | 188.8 | 158.7 |
Assets measured at fair value on a non-recurring basis | 6.2 | 5.7 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | ||
Assets measured at fair value on a non-recurring basis | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | 188.8 | 158.7 |
Assets measured at fair value on a non-recurring basis | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis | ||
Assets measured at fair value on a non-recurring basis | 6.2 | 5.7 |
US Treasury Securities [Member] | ||
Assets measured on a recurring basis | 200.1 | 0.1 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | 200.1 | 0.1 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | ||
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis | ||
Impaired Loans and Leases [Member] | ||
Assets measured at fair value on a non-recurring basis | 14.3 | 13.8 |
Impaired Loans and Leases [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured at fair value on a non-recurring basis | ||
Impaired Loans and Leases [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured at fair value on a non-recurring basis | ||
Impaired Loans and Leases [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured at fair value on a non-recurring basis | 14.3 | 13.8 |
US Government Agencies Debt Securities [Member] | ||
Assets measured on a recurring basis | 82.2 | 101.5 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | ||
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | 82.2 | 101.5 |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis | ||
Other Real Estate Owned [Member] | ||
Assets measured at fair value on a non-recurring basis | 1 | 2.6 |
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured at fair value on a non-recurring basis | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured at fair value on a non-recurring basis | ||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured at fair value on a non-recurring basis | 1 | 2.6 |
US States and Political Subdivisions Debt Securities [Member] | ||
Assets measured on a recurring basis | 33.5 | 42 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | 33.5 | 42 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis | ||
Collateralized Mortgage Obligations [Member] | ||
Assets measured on a recurring basis | 48.7 | 29.8 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | ||
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | 48.7 | 29.8 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis | ||
Mutual Funds [Member] | ||
Assets measured on a recurring basis | 19.1 | 19.2 |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | 19.1 | 19.2 |
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | ||
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis | ||
Other Debt Obligations [Member] | ||
Assets measured on a recurring basis | 1.3 | 1.6 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | ||
Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | 1.3 | 1.6 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis |
Note 15 - 401(K) Plan and Ot120
Note 15 - 401(K) Plan and Other Defined Contribution Plans (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 664 | $ 15 | $ 266 | |
EDCP [Member] | ||||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 272 | 164 | 239 | |
The 401(K) Plan [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | |||
Defined Contribution Plan, Cost Recognized | $ 1,000 | 920 | 846 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 126 | $ 1,300 | $ 1,100 | |
Defined Contribution Plan, Assets Transferred | $ 2,300 |
Note 16 - Pension and Postre121
Note 16 - Pension and Postretirement Benefit Plans (Details Textual) | 12 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2005 | |
Number of Defined Benefit Pension Plans | 3 | |||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | $ (17,377,000) | |||
Deferred Compensation Plan Assets | $ 169,000 | |||
Percentage of Fair Value to Total Pension Plan Asset | 10.00% | |||
QDBP [Member] | ||||
Defined Benefit Plan Employee Eligible Age | 20.5 | |||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | $ (17,377,000) | |||
SERP I and SERP II [Member] | ||||
Number of Defined Benefit Pension Plans | 2 | |||
Defined Benefit Plan, Participants Amounts Frozen, Percentage | 20.00% | |||
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | $ 259 | |||
PRBP [Member] | ||||
Defined Benefit Plan, Maximum Annual Payment, Percentage | 120.00% |
Note 16 - Pension and Postre122
Note 16 - Pension and Postretirement Benefit Plans - Actuarial Assumptions Used to Determine Benefit Obligations (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
QDBP [Member] | ||
Discount rate | ||
Rate of increase for future compensation | ||
Expected long-term rate of return on plan assets | ||
SERP I and SERP II [Member] | ||
Discount rate | 3.75% | 3.90% |
Rate of increase for future compensation | ||
Expected long-term rate of return on plan assets | ||
PRBP [Member] | ||
Discount rate | 2.80% | 3.90% |
Rate of increase for future compensation | ||
Expected long-term rate of return on plan assets |
Note 16 - Pension and Postre123
Note 16 - Pension and Postretirement Benefit Plans - Changes in Benefit Obligations and Plan Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
QDBP [Member] | |||
Benefit obligation | $ 169 | $ 44,092 | |
Service cost | |||
Interest cost | 1,589 | 1,640 | |
Plan participants contribution | |||
Actuarial loss (gain) | (2,978) | ||
Settlements | (40,625) | ||
Benefits paid | (169) | (1,909) | |
Benefit obligation | 169 | 44,092 | |
Fair value of plan assets | 169 | 43,874 | |
Actual return on plan assets | 1,140 | ||
Settlements | (40,625) | ||
Excess assets transferred to defined contribution plan | (2,311) | ||
Employer contribution | |||
Benefits paid | (169) | (1,909) | |
Fair value of plan assets | 169 | 43,874 | |
Funded status at year end (plan assets less benefit obligations) | |||
Prepaid benefit cost/(accrued liability) | |||
Net actuarial loss | |||
Net included in Other Liabilities in the Consolidated Balance Sheets | |||
SERP I and SERP II [Member] | |||
Benefit obligation | 4,830 | 5,079 | |
Service cost | 61 | ||
Interest cost | 184 | 184 | 177 |
Plan participants contribution | |||
Actuarial loss (gain) | 32 | (178) | |
Settlements | |||
Benefits paid | (260) | (255) | |
Benefit obligation | 4,786 | 4,830 | 5,079 |
Fair value of plan assets | |||
Actual return on plan assets | |||
Settlements | |||
Excess assets transferred to defined contribution plan | |||
Employer contribution | 260 | 254 | |
Benefits paid | (260) | (255) | |
Fair value of plan assets | |||
Funded status at year end (plan assets less benefit obligations) | (4,786) | (4,830) | |
Prepaid benefit cost/(accrued liability) | (3,248) | (3,266) | |
Net actuarial loss | (1,539) | (1,564) | |
Net included in Other Liabilities in the Consolidated Balance Sheets | (4,786) | (4,830) | |
PRBP [Member] | |||
Benefit obligation | 493 | 540 | |
Service cost | |||
Interest cost | 17 | 18 | 29 |
Plan participants contribution | 49 | 46 | |
Actuarial loss (gain) | (6) | 27 | |
Settlements | |||
Benefits paid | (135) | (138) | |
Benefit obligation | 418 | 493 | 540 |
Fair value of plan assets | |||
Actual return on plan assets | |||
Settlements | |||
Excess assets transferred to defined contribution plan | |||
Employer contribution | 86 | 92 | |
Benefits paid | (135) | (138) | |
Fair value of plan assets | |||
Funded status at year end (plan assets less benefit obligations) | (418) | (493) | |
Prepaid benefit cost/(accrued liability) | (170) | (197) | |
Net actuarial loss | (248) | (296) | |
Net included in Other Liabilities in the Consolidated Balance Sheets | $ (418) | $ (493) |
Note 16 - Pension and Postre124
Note 16 - Pension and Postretirement Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net loss on settlement of pension plan | $ 17,377 | ||
QDBP [Member] | |||
Service cost | |||
Interest cost | 1,589 | 1,640 | |
Expected return on plan assets | (3,217) | (3,348) | |
Amortization of prior service cost | |||
Recognition of net actuarial loss | 1,913 | 391 | |
Net loss on settlement of pension plan | 17,377 | ||
Net periodic pension cost (benefit) | 17,662 | (1,317) | |
SERP I and SERP II [Member] | |||
Service cost | 61 | ||
Interest cost | 184 | 184 | 177 |
Amortization of prior service cost | 14 | ||
Recognition of net actuarial loss | 57 | 63 | (33) |
Net periodic pension cost (benefit) | 241 | 247 | 219 |
Gain on curtailment | |||
PRBP [Member] | |||
Service cost | |||
Interest cost | 17 | 18 | 29 |
Recognition of net actuarial loss | 41 | 37 | 61 |
Net periodic pension cost (benefit) | $ 58 | $ 55 | $ 90 |
Discount Rate Used in the Calculation of Periodic Pension Costs | 3.90% | 3.70% | 4.60% |
Note 16 - Pension and Postre125
Note 16 - Pension and Postretirement Benefit Plans - Benefit Payments Which Reflect Expected Future Services, Expected to Be Paid Over Next Ten Years (Details) $ in Thousands | Dec. 31, 2016USD ($) |
SERP I and SERP II [Member] | |
2,017 | $ 259 |
2,018 | 257 |
2,019 | 256 |
2,020 | 254 |
2,021 | 250 |
2022-2026 | 1,671 |
PRBP [Member] | |
2,017 | 78 |
2,018 | 68 |
2,019 | 59 |
2,020 | 50 |
2,021 | 42 |
2022-2026 | $ 125 |
Note 17 - Accumulated Other 126
Note 17 - Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ (412) | $ (11,704) | $ (5,565) |
Net change | (1,997) | 11,292 | (6,139) |
Balance | (2,409) | (412) | (11,704) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Balance | 774 | 1,316 | (857) |
Net change | (2,005) | (542) | 2,173 |
Balance | (1,231) | 774 | 1,316 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Balance | (25) | 743 | |
Net change | 25 | (768) | |
Balance | (25) | ||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Balance | (1,186) | (12,995) | (5,451) |
Net change | 8 | 11,809 | (7,544) |
Balance | $ (1,178) | $ (1,186) | $ (12,995) |
Note 17 - Accumulated Other 127
Note 17 - Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified from Each Component of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Realization of (loss) gain on sale of investment securities available for sale | $ 77 | $ (931) | $ (471) | |||||||||
Income taxes | $ 4,684 | $ 4,346 | $ 4,810 | $ 4,328 | $ (3,276) | $ 4,084 | $ 4,296 | $ 4,068 | 18,168 | 9,172 | 15,005 | |
Net of income tax | (9,408) | (9,374) | (8,933) | (8,321) | 6,355 | (7,496) | (8,119) | (7,494) | (36,036) | (16,754) | (27,843) | |
Net loss on settlement of pension plan | 17,377 | |||||||||||
(14,092) | (13,720) | (13,743) | (12,649) | 9,631 | (11,580) | (12,415) | (11,562) | (54,204) | (25,926) | (42,848) | ||
Income tax expense (benefit) | $ (4,684) | $ (4,346) | $ (4,810) | $ (4,328) | $ 3,276 | $ (4,084) | $ (4,296) | $ (4,068) | (18,168) | (9,172) | (15,005) | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||||||||||
Realization of (loss) gain on sale of investment securities available for sale | (77) | 931 | 471 | |||||||||
Income taxes | 27 | (326) | (165) | |||||||||
Net of income tax | (50) | 605 | 306 | |||||||||
Income tax expense (benefit) | (27) | 326 | 165 | |||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||||||||
Income taxes | 214 | |||||||||||
Net of income tax | (397) | |||||||||||
Realized loss on cash flow hedge | (611) | |||||||||||
Income tax expense (benefit) | (214) | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||||||
Income taxes | (34) | (6,787) | (152) | |||||||||
Net of income tax | 64 | 12,603 | 281 | |||||||||
Amortization of net loss included in net periodic pension costs* | 98 | 2,013 | 419 | |||||||||
Net loss on settlement of pension plan | 17,377 | |||||||||||
Amortization of prior service cost included in net periodic pension costs* | [1] | 14 | ||||||||||
Gain on curtailment | ||||||||||||
98 | 19,390 | 433 | ||||||||||
Income tax expense (benefit) | $ 34 | $ 6,787 | $ 152 | |||||||||
[1] | Accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 16 - Pension and Other Post-Retirement Benefit Plans. |
Note 18 - Income Taxes (Details
Note 18 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $ 157 | ||
Deferred Tax Assets, Valuation Allowance, Percentage | 100.00% | ||
Deferred Income Tax Expense (Benefit), Without Acquisition | $ 7,200 | ||
Unrecognized Tax Benefits, Increase Resulting from Acquisition | 2,500 | ||
Liability for Uncertainty in Income Taxes, Current | 0 | $ 0 | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 | ||
Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards | $ 1,300 | ||
Operating Loss Carry forwards, Expiration Year | 2,030 | ||
Alternative Minimum Tax Credit Carry Forward | $ 567 |
Note 18 - Income Taxes - Compon
Note 18 - Income Taxes - Components of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Loan and lease loss reserve | $ 6,492 | $ 5,872 |
Other reserves | 3,611 | 5,509 |
Net operating loss carry-forward | 471 | 927 |
Alternative minimum tax credits | 567 | 567 |
Unrealized depreciation of available for sale securities | 663 | |
Defined benefit plans | 2,068 | 1,851 |
Total deferred tax asset | 13,872 | 14,726 |
Deferred tax liabilities: | ||
Other reserves | 52 | 461 |
Originated MSRs | 1,969 | 1,800 |
Amortizing fair value adjustments | 1,336 | 911 |
Unrealized appreciation of available for sale securities | 417 | |
Total deferred tax liability | 3,357 | 3,589 |
Total net deferred tax asset | $ 10,515 | $ 11,137 |
Note 18 - Income Taxes - Com130
Note 18 - Income Taxes - Components of Provision (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current | $ 16,492 | $ 12,006 | $ 12,655 | ||||||||
Deferred | 1,676 | (2,834) | 2,350 | ||||||||
Total | $ 4,684 | $ 4,346 | $ 4,810 | $ 4,328 | $ (3,276) | $ 4,084 | $ 4,296 | $ 4,068 | $ 18,168 | $ 9,172 | $ 15,005 |
Note 18 - Income Taxes - Differ
Note 18 - Income Taxes - Difference Between Applicable Income Taxes and the Amount Derived by Applying Statutory (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Computed tax expense at statutory federal rate, amount | $ 18,972 | $ 9,074 | $ 14,997 | ||||||||
Computed tax expense at statutory federal rate | 35.00% | 35.00% | 35.00% | ||||||||
Tax-exempt income, amount | $ (758) | $ (622) | $ (401) | ||||||||
Tax-exempt income | (1.40%) | (2.40%) | (0.90%) | ||||||||
State tax (net of federal tax benefit), amount | $ 425 | $ 299 | $ 215 | ||||||||
State tax (net of federal tax benefit) | 0.80% | 1.20% | 0.50% | ||||||||
Non-deductible merger expense, amount | $ 105 | $ 105 | |||||||||
Non-deductible merger expense | 0.40% | 0.20% | |||||||||
Excess tax benefit – stock based compensation, amount | $ (565) | ||||||||||
Excess tax benefit – stock based compensation | (1.00%) | ||||||||||
Other, net, amount | $ 94 | $ 316 | $ 89 | ||||||||
Other, net | 0.10% | 1.20% | 0.20% | ||||||||
Total | $ 4,684 | $ 4,346 | $ 4,810 | $ 4,328 | $ (3,276) | $ 4,084 | $ 4,296 | $ 4,068 | $ 18,168 | $ 9,172 | $ 15,005 |
Total income tax expense | 33.50% | 35.40% | 35.00% |
Note 19 - Stock-based Compen132
Note 19 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Apr. 27, 2010 | Apr. 25, 2007 | |
Share-based Compensation Arrangements by Share-based Payment Award, Performance Shares, Minimum Target | 0.00% | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Performance Shares, Maximum Target | 150.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | |||
Restricted Stock Units (RSUs) [Member] | |||||
Allocated Share-based Compensation Expense | $ 590 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 1,200 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 73 days | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 33,142 | 24,514 | 16,456 | ||
Performance Shares [Member] | |||||
Allocated Share-based Compensation Expense | $ 1,100 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 2,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 23,675 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 21.87% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.82% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Index Correlation Rate | 0.4505% | ||||
Continental Bank Holdings, Inc. ("CBH") [Member] | |||||
Share-based Compensation Arrangement, Shares Assumed Through Acquisitions, Gross | 181,256 | ||||
Share-based Compensation Arrangement Shares Assumed Through Acquisitions, Value | $ 2,300 | ||||
The 2007 Long-Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 428,996 | ||||
The 2010 Long-Term Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 445,002 |
Note 19 - Stock-based Compen133
Note 19 - Stock-based Compensation - Remaining Shares Authorized to Be Granted for Options, Restricted Stock Awards and Performance Stock Awards (Details) - shares | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Balance (in shares) | 216,905 | ||||
Options, RSAs or PSAs [Member] | |||||
Balance (in shares) | 617,765 | 182,843 | |||
Shares authorized for grant (in shares) | 500,000 | 47,368 | |||
Expiration of unexercised options (in shares) | 3,180 | 1,750 | |||
Balance (in shares) | 552,959 | 617,765 | 182,843 | ||
Restricted Stock Units (RSUs) [Member] | |||||
Grants (in shares) | (33,142) | (24,514) | (16,456) | ||
Forfeitures (in shares) | 1,250 | ||||
Performance Stock Awards [Member] | |||||
Balance (in shares) | 216,820 | 217,318 | 204,980 | ||
Grants (in shares) | (45,346) | (92,474) | (71,184) | ||
Forfeitures (in shares) | 2,344 | 22,801 | 1,900 | ||
Balance (in shares) | 192,844 | 216,820 | 217,318 | ||
Non-vesting (in shares) | [1] | 10,088 | 25,929 | [2] | |
Options, RSAs or RSUs [Member] | |||||
Forfeitures (in shares) | 2,560 | ||||
Options, PSAs or PSUs [Member] | |||||
Forfeitures (in shares) | 22,801 | 1,900 | |||
[1] | Non-vesting PSAs represent PSAs that did not meet their performance criteria, and were therefore cancelled. The associated expense, however, was incurred over the vesting period. | ||||
[2] | Non-vesting PSAs represent PSAs that did not meet their performance criteria, and were therefore cancelled and are available for future grant. |
Note 19 - Stock-based Compen134
Note 19 - Stock-based Compensation - Other Stock Option Information (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Options outstanding, Shares (in shares) | 290,853 | 447,966 | 591,086 |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 20.88 | $ 20.94 | $ 20.73 |
Options outstanding, Weighted average grant date fair value (in dollars per share) | $ 4.85 | $ 4.75 | $ 4.70 |
Granted, Shares (in shares) | 0 | 0 | |
Granted, Weighted average exercise price (in dollars per share) | |||
Granted, Weighted average grant date fair value (in dollars per share) | |||
Assumed in the CBH Merger (in shares) | 181,256 | ||
Assumed in the CBH Merger (in dollars per share) | $ 17.73 | ||
Assumed in the CBH Merger (in dollars per share) | |||
Expired, Shares (in shares) | (3,180) | (1,750) | |
Expired, Weighted average exercise price (in dollars per share) | $ 21.33 | $ 22.31 | |
Expired, Weighted average grant date fair value (in dollars per share) | $ 4.84 | $ 4.99 | |
Exercised, Shares (in shares) | (105,830) | (335,189) | (141,370) |
Exercised, Weighted average exercise price (in dollars per share) | $ 20.61 | $ 19.25 | $ 20.06 |
Exercised, Weighted average grant date fair value (in dollars per share) | $ 7.32 | $ 4.62 | $ 4.51 |
Options outstanding, , Shares (in shares) | 185,023 | 290,853 | 447,966 |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 21.04 | $ 20.88 | $ 20.94 |
Options outstanding, Weighted average grant date fair value (in dollars per share) | $ 4.88 | $ 4.85 | $ 4.75 |
Note 19 - Stock-based Compen135
Note 19 - Stock-based Compensation - Information Related to Options (Details) | 12 Months Ended | |
Dec. 31, 2016$ / sharesshares | ||
Options outstanding options outstanding (in shares) | shares | 185,023 | |
Options outstanding remaining contractual life (Year) | 2 years | |
Options exercisable remaining contractual life (Year) | 2 years | |
Options exercisable weighted average exercise price (in dollars per share) | $ 21.03 | [1] |
Exercise Price Range One [Member] | ||
Range of Exercise Prices, minimum (in dollars per share) | 10.36 | |
Range of Exercise Prices, maximum (in dollars per share) | $ 17.15 | |
Options outstanding options outstanding (in shares) | shares | 1,383 | |
Options outstanding remaining contractual life (Year) | 2 years 76 days | |
Options exercisable remaining contractual life (Year) | 2 years 76 days | |
Options exercisable weighted average exercise price (in dollars per share) | $ 12.58 | [1] |
Exercise Price Range Two [Member] | ||
Range of Exercise Prices, minimum (in dollars per share) | 17.16 | |
Range of Exercise Prices, maximum (in dollars per share) | $ 18.30 | |
Options outstanding options outstanding (in shares) | shares | 87,725 | |
Options outstanding remaining contractual life (Year) | 2 years 233 days | |
Options exercisable remaining contractual life (Year) | 2 years 233 days | |
Options exercisable weighted average exercise price (in dollars per share) | $ 18.27 | [1] |
Exercise Price Range Three [Member] | ||
Range of Exercise Prices, minimum (in dollars per share) | 18.31 | |
Range of Exercise Prices, maximum (in dollars per share) | $ 20.17 | |
Options outstanding options outstanding (in shares) | shares | 563 | |
Options outstanding remaining contractual life (Year) | 7 years 18 days | |
Options exercisable remaining contractual life (Year) | 7 years 18 days | |
Options exercisable weighted average exercise price (in dollars per share) | $ 18.33 | [1] |
Exercise Price Range Four [Member] | ||
Range of Exercise Prices, minimum (in dollars per share) | 20.18 | |
Range of Exercise Prices, maximum (in dollars per share) | $ 22.64 | |
Options outstanding options outstanding (in shares) | shares | 23,500 | |
Options outstanding remaining contractual life (Year) | 240 days | |
Options exercisable remaining contractual life (Year) | 240 days | |
Options exercisable weighted average exercise price (in dollars per share) | $ 22 | [1] |
Exercise Price Range Five [Member] | ||
Range of Exercise Prices, minimum (in dollars per share) | 22.65 | |
Range of Exercise Prices, maximum (in dollars per share) | $ 23.78 | |
Options outstanding options outstanding (in shares) | shares | 338 | |
Options outstanding remaining contractual life (Year) | 350 days | |
Options exercisable remaining contractual life (Year) | 350 days | |
Options exercisable weighted average exercise price (in dollars per share) | $ 23.28 | [1] |
Exercise Price Range Six [Member] | ||
Range of Exercise Prices, minimum (in dollars per share) | 23.79 | |
Range of Exercise Prices, maximum (in dollars per share) | $ 24.27 | |
Options outstanding options outstanding (in shares) | shares | 71,514 | |
Options outstanding remaining contractual life (Year) | 1 year 229 days | |
Options exercisable remaining contractual life (Year) | 1 year 229 days | |
Options exercisable weighted average exercise price (in dollars per share) | $ 24.27 | [1] |
[1] | Price of exercisable options. |
Note 19 - Stock-based Compen136
Note 19 - Stock-based Compensation - Information about Unvested Options (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Unvested options, Shares (in shares) | 30,146 | ||
Unvested options, Weighted average grant date fair value (in dollars per share) | $ 4.42 | ||
Granted, Shares (in shares) | 0 | 0 | |
Granted, Weighted average grant date fair value (in dollars per share) | |||
Assumed in CBH Merger (in shares) | 181,256 | ||
Assumed in CBH Merger (in dollars per share) | $ 12.94 | ||
Vested, Shares (in shares) | (181,256) | (30,146) | |
Vested, Weighted average grant date fair value (in dollars per share) | $ 12.94 | $ 4.42 | |
Forfeited, Shares (in shares) | |||
Forfeited, Weighted average grant date fair value (in dollars per share) | |||
Unvested options, Shares (in shares) | |||
Unvested options, Weighted average grant date fair value (in dollars per share) |
Note 19 - Stock-based Compen137
Note 19 - Stock-based Compensation - Proceeds, Related Tax Benefits Realized from Options Exercised and Intrinsic Value of Options Exercised (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Proceeds from strike price of value of options exercised | $ 2,181 | $ 6,452 | $ 2,836 |
Related tax benefit recognized | 256 | 515 | 378 |
Proceeds of options exercised | 2,437 | 6,967 | 3,214 |
Intrinsic value of options exercised | $ 1,125 | $ 3,615 | $ 1,288 |
Note 19 - Stock-based Compen138
Note 19 - Stock-based Compensation - Options Outstanding and Exercisable (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Number, Options outstanding (in shares) | 185,023 | 290,853 | 447,966 | 591,086 |
Number, Exercisable options (in shares) | 185,023 | 290,853 | 447,966 | |
Weighted average exercise price, Options outstanding (in dollars per share) | $ 21.04 | $ 20.88 | $ 20.94 | $ 20.73 |
Weighted average exercise price, Exercisable options (in dollars per share) | $ 21.03 | $ 20.88 | $ 20.94 | |
Aggregate intrinsic value, Options outstanding | $ 3,907,758 | $ 2,280,288 | $ 4,640,917 | |
Aggregate intrinsic value, Exercisable options | $ 3,907,758 | $ 2,280,288 | $ 4,640,917 | |
Weighted average contractual term, Options outstanding (Year) | 2 years | 2 years 328 days | 2 years 255 days | |
Weighted average contractual term, Exercisable options (Year) | 2 years | 2 years 328 days | 2 years 255 days |
Note 19 - Stock-based Compen139
Note 19 - Stock-based Compensation - Unvested Restricted Stock Awards (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | |
Balance (in shares) | 216,905 | |||
Restricted Stock Awards RSA [Member] | ||||
Balance (in shares) | 42,802 | 46,281 | 54,156 | |
Balance, Weighted average grant date fair value (in dollars per share) | $ 28.58 | $ 23.17 | $ 19.36 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 33,142 | 24,514 | 16,456 | |
Granted, Weighted average grant date fair value (in dollars per share) | $ 29.67 | $ 29.83 | $ 28.88 | |
Vested, Shares (in shares) | (15,832) | (27,993) | (21,771) | |
Vested, Weighted average grant date fair value (in dollars per share) | $ 27.14 | $ 20.73 | $ 18.21 | |
Forfeited, Shares (in shares) | (1,250) | (2,560) | ||
Forfeited, Weighted average grant date fair value (in dollars per share) | $ 29.12 | $ 21.48 | ||
Balance (in shares) | 58,862 | 42,802 | 46,281 | 46,281 |
Balance, Weighted average grant date fair value (in dollars per share) | $ 29.57 | $ 28.58 | $ 23.17 | $ 23.17 |
Note 19 - Stock-based Compen140
Note 19 - Stock-based Compensation - Unvested Performance Stock Awards (Details) - $ / shares | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||
Balance (in shares) | 216,905 | ||||
Performance Stock Awards [Member] | |||||
Balance (in shares) | 216,820 | 217,318 | 204,980 | ||
Balance, Weighted average grant date fair value (in dollars per share) | $ 15.07 | $ 13.41 | $ 11.90 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 45,346 | 92,474 | 71,184 | ||
Granted, Weighted average grant date fair value (in dollars per share) | $ 28.34 | $ 16.42 | $ 15.05 | ||
Vested, Shares (in shares) | (56,890) | (44,242) | (56,946) | ||
Vested, Weighted average grant date fair value (in dollars per share) | $ 13.38 | $ 11.80 | $ 10.07 | ||
Non-vesting, Shares (in shares) | [1] | (10,088) | (25,929) | [2] | |
Non-vesting, Weighted average grant date fair value (in dollars per share) | [1] | $ 13.38 | $ 11.80 | ||
Forfeited, Shares (in shares) | (2,344) | (22,801) | (1,900) | ||
Forfeited, Weighted average grant date fair value (in dollars per share) | $ 15.37 | $ 14.75 | $ 12.32 | ||
Balance (in shares) | 192,844 | 216,820 | 217,318 | ||
Balance, Weighted average grant date fair value (in dollars per share) | $ 18.77 | $ 15.07 | $ 13.41 | ||
[1] | Non-vesting PSAs represent PSAs that did not meet their performance criteria, and were therefore cancelled. The associated expense, however, was incurred over the vesting period. | ||||
[2] | Non-vesting PSAs represent PSAs that did not meet their performance criteria, and were therefore cancelled and are available for future grant. |
Note 20 - Earnings Per Share -
Note 20 - Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||||||||||
Net Income | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ (6,355) | $ 7,496 | $ 8,119 | $ 7,494 | $ 36,036 | $ 16,754 | $ 27,843 | |||||||||
Weighted-average basic shares outstanding (in shares) | [1] | 16,859,623 | 17,488,325 | 13,566,239 | ||||||||||||||||
Dilutive shares (in shares) | 168,499 | 267,996 | 294,801 | |||||||||||||||||
Denominator for diluted earnings per share – Adjusted weighted average shares outstanding (in shares) | 17,028,122 | 17,756,321 | 13,861,040 | |||||||||||||||||
Basic earnings per common share* (in dollars per share) | $ 0.56 | [2] | $ 0.56 | [2] | $ 0.53 | [2] | $ 0.49 | [2] | $ (0.37) | [2] | $ 0.43 | [2] | $ 0.46 | [2] | $ 0.43 | [2] | $ 2.14 | $ 0.96 | $ 2.05 | |
Diluted earnings per common share* (in dollars per share) | $ 0.55 | [2] | $ 0.55 | [2] | $ 0.52 | [2] | $ 0.49 | [2] | $ (0.37) | [2] | $ 0.42 | [2] | $ 0.45 | [2] | $ 0.42 | [2] | $ 2.12 | $ 0.94 | $ 2.01 | |
Antidilutive shares excluded from computation of average dilutive earnings per share (in shares) | ||||||||||||||||||||
[1] | excludes restricted stock | |||||||||||||||||||
[2] | Earnings per share is computed independently for each period shown. As a result, the sum of the quarters may not equal the total earnings per share for the year. |
Note 21 - Other Operating In142
Note 21 - Other Operating Income - Components of Other Operating Income (Details) - USD ($) $ in Thousands | 11 Months Ended | 12 Months Ended | |||
Dec. 13, 2016 | Dec. 13, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Merchant interchange fees | $ 1,381 | $ 1,238 | $ 934 | ||
Bank owned life insurance income | 908 | 783 | 315 | ||
Commissions and fees | 673 | 867 | 637 | ||
Safe deposit box rentals | 382 | 384 | 389 | ||
Other investment income | 223 | 248 | 142 | ||
Rent income | 163 | 175 | 164 | ||
Miscellaneous other income | 1,138 | 1,154 | 502 | ||
Other operating income | $ 4,868 | $ 4,849 | $ 4,868 | $ 4,849 | $ 3,083 |
Note 22 - Other Operating Ex143
Note 22 - Other Operating Expense - Components of Other Operating Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Telephone and data lines | $ 1,620 | $ 1,704 | $ 1,332 | ||||||||
FDIC insurance | 1,616 | 1,447 | 1,046 | ||||||||
Temporary help and recruiting | 1,522 | 1,362 | 1,171 | ||||||||
Loan processing | 164 | 1,285 | 723 | ||||||||
Debt prepayment penalty | 1,131 | 526 | |||||||||
Travel and entertainment | 894 | 868 | 725 | ||||||||
Insurance | 788 | 770 | 759 | ||||||||
MSR amortization and impairment | 881 | 660 | 532 | ||||||||
Stationary and supplies | 518 | 623 | 445 | ||||||||
Director fees | 566 | 568 | 443 | ||||||||
Postage | 551 | 540 | 471 | ||||||||
Outsourced services | 569 | 508 | 432 | ||||||||
Contributions | 957 | 468 | 403 | ||||||||
Dues and subscriptions | 456 | 441 | 368 | ||||||||
Portfolio maintenance | 391 | 385 | 389 | ||||||||
Other taxes | 45 | 80 | 51 | ||||||||
Deferred compensation expense | 664 | 15 | 266 | ||||||||
Miscellaneous other expense | 1,505 | 1,643 | 1,490 | ||||||||
Other operating expense | $ 24,958 | $ 25,477 | $ 26,259 | $ 25,051 | $ 46,951 | $ 25,403 | $ 25,982 | $ 27,429 | $ 13,707 | $ 14,498 | $ 11,572 |
Note 23 - Related Party Tran144
Note 23 - Related Party Transactions (Details Textual) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Related Party Deposit Liabilities | $ 6 | $ 3.6 |
Note 23 - Related Party Tran145
Note 23 - Related Party Transactions - Loan Activity, Loans Granted to Principal Officers, Directors and Their Affiliates (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Loan balances | $ 11,386 | $ 2,874 |
Additions | 1,227 | 9,115 |
Amounts collected | (889) | (603) |
Loan balances | $ 11,724 | $ 11,386 |
Note 24 - Financial Instrume146
Note 24 - Financial Instruments with Off-Balance Sheet Risk, Contingencies and Concentration of Credit Risk (Details Textual) | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | |
Loss Contingency, Pending Claims, Number | 0 | ||
Loss Contingency, Claims Settled, Number | 0 | 0 | 0 |
Bank Acceptances Executed and Outstanding | $ 0 | ||
Standby Letters of Credit [Member] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 12,700,000 | ||
Commitments to Extend Credit [Member] | |||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 675,400,000 |
Note 25 - Dividend Restricti147
Note 25 - Dividend Restrictions (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Retained Earnings, Unappropriated | $ 364 |
Proceeds from Dividends Received | 16,000 |
Dividend Distribution Restrictions, Amount of Net Income (Loss) | $ 364 |
Note 26 - Regulatory Capital148
Note 26 - Regulatory Capital Requirements (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2015 | Dec. 31, 2016 | Dec. 31, 2015 |
Shelf Registration Statement Maximum Amount of Securities Authorized for Issuance | $ 200,000 | ||
Shelf Registration Shares After Amendment | 1,500,000 | ||
Maximum Stock Issuable Under Stock Purchase and Dividend Reinvestment Plan | $ 120 | ||
Stock Repurchased During Period, Shares | 862,500 | 286,700 | |
Request for Waiver Value Approved in Period | $ 0 | ||
Dividend Reinvestment and Share Purchase Plan [Member] | |||
Stock Issued During Period, Shares, New Issues | 0 | ||
Continental Bank Holdings, Inc. ("CBH") [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 3,878,383 | ||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 121,400 |
Note 26 - Regulatory Capital149
Note 26 - Regulatory Capital Requirements - Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Total (Tier II) capital to risk weighted assets, actual, amount | $ 318,191 | $ 302,236 |
Total (Tier II) capital to risk weighted assets, actual, ratio | 12.35% | 12.61% |
Total (Tier II) capital to risk weighted assets, minimum to be well capitalized, amount | $ 257,651 | $ 239,680 |
Total (Tier II) capital to risk weighted assets, minimum to be well capitalized, ratio | 10.00% | 10.00% |
Tier I capital to risk weighted assets, actual, amount | $ 270,845 | $ 256,900 |
Tier I capital to risk weighted assets, actual, ratio | 10.51% | 10.72% |
Tier I capital to risk weighted assets, minimum to be well capitalized, amount | $ 206,121 | $ 191,716 |
Tier I capital to risk weighted assets, minimum to be well capitalized, ratio | 8.00% | 8.00% |
Tier I capital to average assets, actual, amount | $ 270,845 | $ 256,900 |
Tier I capital to average assets, actual, ratio | 8.73% | 9.02% |
Tier I capital to average assets, minimum to be well capitalized, amount | $ 201,546 | $ 185,127 |
Tier I capital to average assets, minimum to be well capitalized, ratio | 6.50% | 6.50% |
Common equity tier I capital to risk weighted assets, actual, amount | $ 270,845 | $ 256,900 |
Common equity tier I capital to risk weighted assets, actual, ratio | 10.51% | 10.72% |
Common equity tier I capital to risk weighted assets, minimum to be well capitalized, amount | $ 128,826 | $ 119,823 |
Common equity tier I capital to risk weighted assets, minimum to be well capitalized, ratio | 5.00% | 5.00% |
Subsidiaries [Member] | ||
Total (Tier II) capital to risk weighted assets, actual, amount | $ 287,897 | $ 257,716 |
Total (Tier II) capital to risk weighted assets, actual, ratio | 11.19% | 10.78% |
Total (Tier II) capital to risk weighted assets, minimum to be well capitalized, amount | $ 257,179 | $ 239,069 |
Total (Tier II) capital to risk weighted assets, minimum to be well capitalized, ratio | 10.00% | 10.00% |
Tier I capital to risk weighted assets, actual, amount | $ 270,083 | $ 241,859 |
Tier I capital to risk weighted assets, actual, ratio | 10.50% | 10.12% |
Tier I capital to risk weighted assets, minimum to be well capitalized, amount | $ 205,743 | $ 191,193 |
Tier I capital to risk weighted assets, minimum to be well capitalized, ratio | 8.00% | 8.00% |
Tier I capital to average assets, actual, amount | $ 270,083 | $ 241,859 |
Tier I capital to average assets, actual, ratio | 8.73% | 8.51% |
Tier I capital to average assets, minimum to be well capitalized, amount | $ 201,189 | $ 184,734 |
Tier I capital to average assets, minimum to be well capitalized, ratio | 6.50% | 6.50% |
Common equity tier I capital to risk weighted assets, actual, amount | $ 270,083 | $ 241,859 |
Common equity tier I capital to risk weighted assets, actual, ratio | 10.50% | 10.12% |
Common equity tier I capital to risk weighted assets, minimum to be well capitalized, amount | $ 128,589 | $ 119,496 |
Common equity tier I capital to risk weighted assets, minimum to be well capitalized, ratio | 5.00% | 5.00% |
Note 27 - Selected Quarterly150
Note 27 - Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |||||||||
Interest income | $ 29,922 | $ 29,514 | $ 29,286 | $ 28,269 | $ 27,766 | $ 27,029 | $ 26,993 | $ 26,754 | $ 116,991 | $ 108,542 | $ 82,906 | ||||||||
Interest expense | 2,932 | 2,797 | 2,659 | 2,367 | 2,337 | 2,196 | 1,923 | 1,959 | 10,755 | 8,415 | 6,078 | ||||||||
Net interest income | 26,990 | 26,717 | 26,627 | 25,902 | 25,429 | 24,833 | 25,070 | 24,795 | 106,236 | 100,127 | 76,828 | ||||||||
Provision for loan and lease losses | 1,059 | 1,412 | 445 | 1,410 | 1,777 | 1,200 | 850 | 569 | 4,326 | 4,396 | 884 | ||||||||
Other income | 13,119 | 13,892 | 13,820 | 13,208 | 13,668 | 13,350 | 14,177 | 14,765 | |||||||||||
Other expense | 24,958 | 25,477 | 26,259 | 25,051 | 46,951 | 25,403 | 25,982 | 27,429 | 13,707 | 14,498 | 11,572 | ||||||||
Income before income taxes | 14,092 | 13,720 | 13,743 | 12,649 | (9,631) | 11,580 | 12,415 | 11,562 | 54,204 | 25,926 | 42,848 | ||||||||
Income taxes | 4,684 | 4,346 | 4,810 | 4,328 | (3,276) | 4,084 | 4,296 | 4,068 | 18,168 | 9,172 | 15,005 | ||||||||
Net Income | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ (6,355) | $ 7,496 | $ 8,119 | $ 7,494 | $ 36,036 | $ 16,754 | $ 27,843 | ||||||||
Basic earnings per common share* (in dollars per share) | $ 0.56 | [1] | $ 0.56 | [1] | $ 0.53 | [1] | $ 0.49 | [1] | $ (0.37) | [1] | $ 0.43 | [1] | $ 0.46 | [1] | $ 0.43 | [1] | $ 2.14 | $ 0.96 | $ 2.05 |
Diluted earnings per common share* (in dollars per share) | 0.55 | [1] | 0.55 | [1] | 0.52 | [1] | 0.49 | [1] | (0.37) | [1] | 0.42 | [1] | 0.45 | [1] | 0.42 | [1] | 2.12 | 0.94 | 2.01 |
Dividends declared per share (in dollars per share) | $ 0.21 | $ 0.21 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.19 | $ 0.19 | $ 0.82 | $ 0.78 | $ 0.74 | ||||||||
[1] | Earnings per share is computed independently for each period shown. As a result, the sum of the quarters may not equal the total earnings per share for the year. |
Note 28 - Parent Company - O151
Note 28 - Parent Company - Only Financial Statements - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash | $ 50,765 | $ 143,067 | $ 219,269 | $ 81,071 |
Premises and equipment, net | 41,778 | 45,339 | ||
Goodwill | 104,765 | 104,765 | 35,781 | |
Other assets | 23,168 | 25,105 | ||
Total assets | 3,421,530 | 3,030,997 | 2,246,500 | |
Liabilities and shareholders’ equity: | ||||
Subordinated notes | 29,532 | 29,479 | ||
Other liabilities | 34,569 | 32,201 | ||
Total liabilities | 3,040,403 | 2,665,286 | ||
Common stock, par value $1; authorized 100,000,000 shares; issued 21,110,968 and 20,931,416 shares as of December 31, 2016 and December 31, 2015, respectively, and outstanding of 16,939,715 and 17,071,523 as of December 31, 2016 and December 31, 2015, respectively | 21,111 | 20,931 | ||
Paid-in capital in excess of par value | 232,806 | 228,814 | ||
Less: Common stock in treasury at cost - 4,171,253 and 3,859,893 shares as of December 31, 2016 and December 31, 2015, respectively | (66,950) | (58,144) | ||
Accumulated other comprehensive loss, net of tax | (2,409) | (412) | (11,704) | (5,565) |
Retained earnings | 196,569 | 174,522 | ||
Total shareholders’ equity | 381,127 | 365,711 | 245,474 | 229,898 |
Total liabilities and shareholders’ equity | 3,421,530 | 3,030,997 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash | 23,663 | 37,992 | $ 5,269 | $ 5,435 |
Investment securities | 400 | 404 | ||
Investments in subsidiaries, as equity in net assets | 384,751 | 354,148 | ||
Premises and equipment, net | 2,288 | 2,386 | ||
Goodwill | 245 | 245 | ||
Other assets | 1,435 | 1,704 | ||
Total assets | 412,782 | 396,879 | ||
Liabilities and shareholders’ equity: | ||||
Subordinated notes | 29,532 | 29,479 | ||
Other liabilities | 2,123 | 1,689 | ||
Total liabilities | 31,655 | 31,168 | ||
Common stock, par value $1; authorized 100,000,000 shares; issued 21,110,968 and 20,931,416 shares as of December 31, 2016 and December 31, 2015, respectively, and outstanding of 16,939,715 and 17,071,523 as of December 31, 2016 and December 31, 2015, respectively | 21,111 | 20,931 | ||
Paid-in capital in excess of par value | 232,806 | 228,814 | ||
Less: Common stock in treasury at cost - 4,171,253 and 3,859,893 shares as of December 31, 2016 and December 31, 2015, respectively | (66,950) | (58,144) | ||
Accumulated other comprehensive loss, net of tax | (2,409) | (412) | ||
Retained earnings | 196,569 | 174,522 | ||
Total shareholders’ equity | 381,127 | 365,711 | ||
Total liabilities and shareholders’ equity | $ 412,782 | $ 396,879 |
Note 28 - Parent Company - O152
Note 28 - Parent Company - Only Financial Statements - Condensed Balance Sheets (Details) (Parentheticals) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 21,110,968 | 20,931,416 |
Common stock, shares outstanding (in shares) | 16,939,715 | 17,071,523 |
Treasury stock, shares (in shares) | 4,171,253 | 3,859,893 |
Parent Company [Member] | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 21,110,968 | 20,931,416 |
Common stock, shares outstanding (in shares) | 16,939,715 | 17,071,523 |
Treasury stock, shares (in shares) | 4,171,253 | 3,859,893 |
Note 28 - Parent Company - O153
Note 28 - Parent Company - Only Financial Statements - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income before equity in undistributed income of subsidiaries | $ 54,204 | $ 25,926 | $ 42,848 | ||||||||
Income before income taxes | $ 14,092 | $ 13,720 | $ 13,743 | $ 12,649 | $ (9,631) | $ 11,580 | $ 12,415 | $ 11,562 | 54,204 | 25,926 | 42,848 |
Income taxes | 4,684 | 4,346 | 4,810 | 4,328 | (3,276) | 4,084 | 4,296 | 4,068 | 18,168 | 9,172 | 15,005 |
Net Income | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ (6,355) | $ 7,496 | $ 8,119 | $ 7,494 | 36,036 | 16,754 | 27,843 |
Parent Company [Member] | |||||||||||
Dividends from subsidiaries | 17,718 | 34,234 | 12,160 | ||||||||
Interest and other income | 2,714 | 2,128 | 2,156 | ||||||||
Total operating income | 20,432 | 36,362 | 14,316 | ||||||||
Expenses | 2,443 | 2,140 | 1,849 | ||||||||
Income before equity in undistributed income of subsidiaries | 17,989 | 34,222 | 12,467 | ||||||||
Equity in undistributed income of subsidiaries | 17,600 | (17,427) | 15,480 | ||||||||
Income before income taxes | 35,589 | 16,795 | 27,947 | ||||||||
Income taxes | (447) | 41 | 104 | ||||||||
Net Income | $ 36,036 | $ 16,754 | $ 27,843 |
Note 28 - Parent Company - O154
Note 28 - Parent Company - Only Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | Aug. 06, 2015 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Operating activities: | ||||||||||||
Net Income | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ (6,355) | $ 7,496 | $ 8,119 | $ 7,494 | $ 36,036 | $ 16,754 | $ 27,843 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Net amortization of investment premiums and discounts | 3,200 | 3,280 | 2,299 | |||||||||
Stock based compensation cost | 1,713 | 1,441 | 1,256 | |||||||||
Other, net | (899) | 1,049 | 2,822 | |||||||||
Net cash provided by operating activities | 54,228 | 37,928 | 37,678 | |||||||||
Investing activities: | ||||||||||||
Proceeds from maturity and paydowns of investment securities available for sale | 65,176 | 66,209 | 40,801 | |||||||||
Acquisitions, net of cash acquired | 16,129 | (4,125) | ||||||||||
Financing activities: | ||||||||||||
Dividends paid | (13,961) | (13,837) | (10,189) | |||||||||
Net proceeds from issuance of subordinated notes | $ 29,500 | 29,456 | ||||||||||
Net (purchase of) proceeds from sale of treasury stock for deferred compensation plans | (133) | (128) | 79 | |||||||||
Net purchase of treasury stock through publicly announced plans | (7,971) | (26,418) | (947) | |||||||||
Proceeds from issuance of common stock | 20 | 72 | ||||||||||
Excess tax benefit from stock-based compensation | 783 | 831 | ||||||||||
Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation | (745) | |||||||||||
Proceeds from exercise of stock options | 2,181 | 6,452 | 2,836 | |||||||||
Change in cash and cash equivalents | (92,302) | (76,202) | 138,198 | |||||||||
Cash and cash equivalents at beginning of period | 143,067 | 219,269 | 143,067 | 219,269 | 81,071 | |||||||
Cash and cash equivalents at end of period | 50,765 | 143,067 | 50,765 | 143,067 | 219,269 | |||||||
Parent Company [Member] | ||||||||||||
Operating activities: | ||||||||||||
Net Income | 36,036 | 16,754 | 27,843 | |||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Equity in undistributed income of subsidiaries | (17,600) | 17,427 | (15,480) | |||||||||
Net amortization of investment premiums and discounts | 151 | 121 | 98 | |||||||||
Stock based compensation cost | 1,713 | 1,441 | 1,256 | |||||||||
Other, net | 1,000 | 508 | 485 | |||||||||
Net cash provided by operating activities | 21,300 | 36,251 | 14,202 | |||||||||
Investing activities: | ||||||||||||
Investment in subsidiaries | (15,000) | |||||||||||
Proceeds from maturity and paydowns of investment securities available for sale | 16 | |||||||||||
Acquisitions, net of cash acquired | 128 | |||||||||||
Net cash (used in) provided by investing activities | (15,000) | 144 | ||||||||||
Financing activities: | ||||||||||||
Dividends paid | (13,961) | (13,837) | (10,189) | |||||||||
Change in other borrowings | (7,050) | |||||||||||
Net proceeds from issuance of subordinated notes | 29,456 | |||||||||||
Net (purchase of) proceeds from sale of treasury stock for deferred compensation plans | (133) | (128) | 79 | |||||||||
Net purchase of treasury stock through publicly announced plans | (7,971) | (26,418) | (947) | |||||||||
Proceeds from issuance of common stock | 20 | 72 | ||||||||||
Payment of contingent consideration for business combinations | ||||||||||||
Excess tax benefit from stock-based compensation | 783 | 831 | ||||||||||
Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation | (745) | |||||||||||
Proceeds from exercise of stock options | 2,181 | 6,452 | 2,836 | |||||||||
Net cash used by financing activities | (20,629) | (3,672) | (14,368) | |||||||||
Change in cash and cash equivalents | (14,329) | 32,723 | (166) | |||||||||
Cash and cash equivalents at beginning of period | $ 37,992 | $ 5,269 | 37,992 | 5,269 | 5,435 | |||||||
Cash and cash equivalents at end of period | $ 23,663 | $ 37,992 | $ 23,663 | $ 37,992 | $ 5,269 |
Note 29 - Segment Information -
Note 29 - Segment Information - Detail Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Net interest income | $ 26,990 | $ 26,717 | $ 26,627 | $ 25,902 | $ 25,429 | $ 24,833 | $ 25,070 | $ 24,795 | $ 106,236 | $ 100,127 | $ 76,828 | |
Provision for loan and lease losses | 1,059 | $ 1,412 | $ 445 | $ 1,410 | 1,777 | $ 1,200 | $ 850 | $ 569 | 4,326 | 4,396 | 884 | |
Net interest income after loan loss provision | 101,910 | 95,731 | 75,944 | |||||||||
Fees for wealth management services | 36,690 | 36,894 | 36,774 | |||||||||
Service charges on deposit accounts | 2,791 | 2,927 | 2,578 | |||||||||
Loan servicing and other fees | 1,939 | 2,087 | 1,755 | |||||||||
Net gain on sale of loans | 3,119 | 3,022 | 1,772 | |||||||||
Net gain (loss) on sale of available for sale securities | (77) | 931 | 471 | |||||||||
Net gain (loss) on sale of other real estate owned | (76) | 123 | 175 | |||||||||
Insurance commissions | 3,722 | 3,745 | 1,099 | |||||||||
Other operating income | 5,931 | 6,231 | 3,587 | |||||||||
Total other income | 54,039 | 55,960 | 48,322 | |||||||||
Salaries and wages | 47,411 | 44,575 | 37,113 | |||||||||
Employee benefits | 9,548 | 10,205 | 7,340 | |||||||||
Net loss on settlement of pension plan | 17,377 | |||||||||||
Occupancy and bank premises | 9,611 | 10,305 | 7,305 | |||||||||
Amortization of intangible assets | 3,498 | 4,214 | 2,659 | |||||||||
Professional fees | 3,659 | 3,353 | 3,017 | |||||||||
Other operating expenses | 28,018 | 36,123 | 23,984 | |||||||||
Total other expenses | 101,745 | 125,765 | 81,418 | |||||||||
Segment profit | 54,204 | 25,926 | 42,848 | |||||||||
Intersegment (revenues) expenses* | [1] | |||||||||||
Pre-tax segment profit after eliminations | $ 54,204 | $ 25,926 | $ 42,848 | |||||||||
% of segment pre-tax profit after eliminations | 100.00% | 100.00% | 100.00% | |||||||||
Segment assets (dollars in millions) | 3,421,530 | 3,030,997 | $ 3,421,530 | $ 3,030,997 | $ 2,246,500 | |||||||
Banking [Member] | ||||||||||||
Net interest income | 106,233 | 100,124 | 76,825 | |||||||||
Provision for loan and lease losses | 4,326 | 4,396 | 884 | |||||||||
Net interest income after loan loss provision | 101,907 | 95,728 | 75,941 | |||||||||
Fees for wealth management services | ||||||||||||
Service charges on deposit accounts | 2,791 | 2,927 | 2,578 | |||||||||
Loan servicing and other fees | 1,939 | 2,087 | 1,755 | |||||||||
Net gain on sale of loans | 3,119 | 3,022 | 1,772 | |||||||||
Net gain (loss) on sale of available for sale securities | (77) | 931 | 471 | |||||||||
Net gain (loss) on sale of other real estate owned | (76) | 123 | 175 | |||||||||
Insurance commissions | ||||||||||||
Other operating income | 5,773 | 6,082 | 3,419 | |||||||||
Total other income | 13,469 | 15,172 | 10,170 | |||||||||
Salaries and wages | 32,321 | 30,391 | 24,612 | |||||||||
Employee benefits | 6,257 | 7,298 | 4,306 | |||||||||
Net loss on settlement of pension plan | 17,377 | |||||||||||
Occupancy and bank premises | 8,005 | 8,662 | 5,753 | |||||||||
Amortization of intangible assets | 872 | 1,172 | 276 | |||||||||
Professional fees | 3,516 | 3,227 | 2,923 | |||||||||
Other operating expenses | 24,183 | 32,150 | 20,457 | |||||||||
Total other expenses | 75,154 | 100,277 | 58,327 | |||||||||
Segment profit | 40,222 | 10,623 | 27,784 | |||||||||
Intersegment (revenues) expenses* | [1] | (396) | (422) | (372) | ||||||||
Pre-tax segment profit after eliminations | $ 39,826 | $ 10,201 | $ 27,412 | |||||||||
% of segment pre-tax profit after eliminations | 73.50% | 39.30% | 64.00% | |||||||||
Segment assets (dollars in millions) | 3,377,100 | 2,983,200 | $ 3,377,100 | $ 2,983,200 | $ 2,197,800 | |||||||
Wealth [Member] | ||||||||||||
Net interest income | 3 | 3 | 3 | |||||||||
Provision for loan and lease losses | ||||||||||||
Net interest income after loan loss provision | 3 | 3 | 3 | |||||||||
Fees for wealth management services | 36,690 | 36,894 | 36,774 | |||||||||
Service charges on deposit accounts | ||||||||||||
Loan servicing and other fees | ||||||||||||
Net gain on sale of loans | ||||||||||||
Net gain (loss) on sale of available for sale securities | ||||||||||||
Net gain (loss) on sale of other real estate owned | ||||||||||||
Insurance commissions | 3,722 | 3,745 | 1,210 | |||||||||
Other operating income | 158 | 149 | 168 | |||||||||
Total other income | 40,570 | 40,788 | 38,152 | |||||||||
Salaries and wages | 15,090 | 14,184 | 12,501 | |||||||||
Employee benefits | 3,291 | 2,907 | 3,034 | |||||||||
Net loss on settlement of pension plan | ||||||||||||
Occupancy and bank premises | 1,606 | 1,643 | 1,552 | |||||||||
Amortization of intangible assets | 2,626 | 2,655 | 2,383 | |||||||||
Professional fees | 143 | 126 | 94 | |||||||||
Other operating expenses | 3,835 | 3,973 | 3,527 | |||||||||
Total other expenses | 26,591 | 25,488 | 23,091 | |||||||||
Segment profit | 13,982 | 15,303 | 15,064 | |||||||||
Intersegment (revenues) expenses* | [1] | 396 | 422 | 372 | ||||||||
Pre-tax segment profit after eliminations | $ 14,378 | $ 15,725 | $ 15,436 | |||||||||
% of segment pre-tax profit after eliminations | 26.50% | 60.70% | 36.00% | |||||||||
Segment assets (dollars in millions) | $ 44,400 | $ 47,800 | $ 44,400 | $ 47,800 | $ 48,700 | |||||||
[1] | Intersegment revenues consist of rental payments, deposit interest and management fees. |
Note 29 - Segment Informatio156
Note 29 - Segment Information - Wealth Management Segment Information (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Assets under management, administration, supervision and brokerage | $ 11,328,500 | $ 8,364,800 |
Note 30 - Subsequent Events (De
Note 30 - Subsequent Events (Details Textual) - Royal Bancshares of Pennsylvania, Inc. [Member] - Scenario, Forecast [Member] $ in Thousands | 2 Months Ended | 3 Months Ended |
Mar. 31, 2017USD ($) | Mar. 31, 2017USD ($) | |
Business Combination, Consideration Transferred | $ 127,700 | $ 127,700 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 602,000 | 602,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Liabilities | $ 630,000 | $ 630,000 |