Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 23, 2018 | Jun. 30, 2017 | |
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 | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 20,225,269 | ||
Entity Public Float | $ 711,760,477 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 11,657 | $ 16,559 |
Interest bearing deposits with banks | 48,367 | 34,206 |
Cash and cash equivalents | 60,024 | 50,765 |
Investment securities available for sale, at fair value (amortized cost of $692,824 and $568,890 as of December 31, 2017 and December 31, 2016 respectively) | 689,202 | 566,996 |
Investment securities held to maturity, at amortized cost (fair value of $7,851 and $2,818 as of December 31, 2017 and December 31, 2016, respectively) | 7,932 | 2,879 |
Investment securities, trading | 4,610 | 3,888 |
Loans held for sale | 3,794 | 9,621 |
Portfolio loans and leases, originated | 2,487,296 | 2,240,987 |
Portfolio loans and leases, acquired | 798,562 | 294,438 |
Total portfolio loans and leases | 3,285,858 | 2,535,425 |
Less: Allowance for originated loan and lease losses | (17,475) | (17,458) |
Less: Allowance for acquired loan and lease losses | (50) | (28) |
Total allowance for loans and lease losses | (17,525) | (17,486) |
Net portfolio loans and leases | 3,268,333 | 2,517,939 |
Premises and equipment, net | 54,458 | 41,778 |
Accrued interest receivable | 14,246 | 8,533 |
Mortgage servicing rights | 5,861 | 5,582 |
Bank owned life insurance | 56,667 | 39,279 |
Federal Home Loan Bank stock | 20,083 | 17,305 |
Goodwill | 179,889 | 104,765 |
Intangible assets | 25,966 | 20,405 |
Other investments | 12,470 | 8,627 |
Other assets | 46,185 | 23,168 |
Total assets | 4,449,720 | 3,421,530 |
Deposits: | ||
Non-interest-bearing | 924,844 | 736,180 |
Interest-bearing | 2,448,954 | 1,843,495 |
Total deposits | 3,373,798 | 2,579,675 |
Short-term borrowings | 237,865 | 204,151 |
Long-term FHLB advances | 139,140 | 189,742 |
Subordinated notes | 98,416 | 29,532 |
Junior subordinated debentures | 21,416 | |
Accrued interest payable | 3,527 | 2,734 |
Other liabilities | 47,439 | 34,569 |
Total liabilities | 3,921,601 | 3,040,403 |
Shareholders' equity | ||
Common stock, par value $1; authorized 100,000,000 shares; issued 24,360,049 and 21,110,968 shares as of December 31, 2017 and December 31, 2016, respectively, and outstanding of 20,161,395 and 16,939,715 as of December 31, 2017 and December 31, 2016, respectively | 24,360 | 21,111 |
Paid-in capital in excess of par value | 371,486 | 232,806 |
Less: Common stock in treasury at cost - 4,198,654 and 4,171,253 shares as of December 31, 2017 and December 31, 2016, respectively | (68,179) | (66,950) |
Accumulated other comprehensive loss, net of tax | (4,414) | (2,409) |
Retained earnings | 205,549 | 196,569 |
Total Bryn Mawr Bank Corporation shareholders' equity | 528,802 | 381,127 |
Noncontrolling interest | (683) | |
Total shareholders' equity | 528,119 | 381,127 |
Total liabilities and shareholders' equity | $ 4,449,720 | $ 3,421,530 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Investment securities available for sale, amortized cost | $ 692,824 | $ 568,890 |
Investment securities held to maturity, fair value | $ 7,851 | $ 2,818 |
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) | 24,360,049 | 21,110,968 |
Common stock, shares outstanding (in shares) | 20,161,395 | 16,939,715 |
Treasury stock, shares (in shares) | 4,198,654 | 4,171,253 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Interest income: | ||||
Interest and fees on loans and leases | $ 120,762 | $ 110,536 | $ 102,432 | |
Interest on cash and cash equivalents | 174 | 168 | 409 | |
Interest on investment securities: | ||||
Taxable | 8,136 | 5,575 | 5,018 | |
Non-taxable | 388 | 497 | 497 | |
Dividends | 99 | 215 | 186 | |
Total interest income | 129,559 | 116,991 | 108,542 | |
Interest expense: | ||||
Interest on deposits | 8,748 | 5,833 | 4,212 | |
Interest on short-term borrowings | 1,390 | 93 | 48 | |
Interest on FHLB advances and other borrowings | 2,620 | 3,353 | 3,554 | |
Interest on subordinated notes | 1,628 | 1,476 | 601 | |
Interest on junior subordinated debentures | 46 | |||
Total interest expense | 14,432 | 10,755 | 8,415 | |
Net interest income | 115,127 | 106,236 | 100,127 | |
Provision for loan and lease losses | 2,618 | 4,326 | 4,396 | |
Net interest income after provision for loan and lease losses | 112,509 | 101,910 | 95,731 | |
Noninterest income: | ||||
Fees for wealth management services | 38,735 | 36,690 | 36,894 | |
Insurance commissions | 4,589 | 3,722 | 3,745 | |
Capital markets revenue | 2,396 | |||
Service charges on deposits | 2,608 | 2,791 | 2,927 | |
Loan servicing and other fees | 2,106 | 1,939 | 2,087 | |
Net gain on sale of loans | 2,441 | 3,048 | 2,847 | |
Net gain (loss) on sale of investment securities available for sale | 101 | (77) | 931 | |
Net (loss) gain on sale of other real estate owned ("OREO") | (104) | (76) | 123 | |
Dividends on FHLB and FRB stock | 939 | 1,063 | 1,382 | |
Other operating income | 5,321 | 4,868 | 4,849 | |
Total noninterest income | 59,132 | 53,968 | 55,785 | |
Noninterest expenses: | ||||
Salaries and wages | 53,251 | 47,411 | 44,575 | |
Employee benefits | 10,452 | 9,548 | 10,205 | |
Net loss on settltment of pension plan | 17,377 | |||
Occupancy and bank premises | 9,906 | 9,611 | 10,305 | |
Branch lease termination expense | 929 | |||
Furniture, fixtures, and equipment | 7,385 | 7,520 | 6,841 | |
Advertising | 1,454 | 1,381 | 2,102 | |
Amortization of intangible assets | 2,734 | 3,498 | 3,827 | |
Impairment of intangible assets | 387 | |||
Due diligence, merger-related and merger integration expenses | 6,104 | 6,670 | ||
Professional fees | 3,268 | 3,659 | 3,353 | |
Pennsylvania bank shares tax | 1,294 | 1,749 | 1,253 | |
Information technology | 3,581 | 3,661 | 3,443 | |
Other operating expenses | 14,966 | 13,636 | 14,323 | |
Total noninterest expenses | 114,395 | 101,674 | 125,590 | |
Income before income taxes | 57,246 | 54,204 | 25,926 | |
Income tax expense | 34,230 | 18,168 | 9,172 | |
Net income | $ 23,016 | $ 36,036 | $ 16,754 | |
Basic earnings per common share (in dollars per share) | $ 1.34 | $ 2.14 | $ 0.96 | |
Diluted earnings per common share (in dollars per share) | 1.32 | 2.12 | 0.94 | |
Dividends declared per share (in dollars per share) | $ 0.86 | $ 0.82 | $ 0.78 | |
Weighted-average basic shares outstanding (in shares) | [1] | 17,150,125 | 16,859,623 | 17,488,325 |
Dilutive shares (in shares) | 248,798 | 168,499 | 267,996 | |
Adjusted weighted-average diluted shares (in shares) | 17,398,923 | 17,028,122 | 17,756,321 | |
[1] | excludes restricted stock |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Income | $ 23,016 | $ 36,036 | $ 16,754 |
Net change in unrealized losses on investment securities available for sale: | |||
Net unrealized losses arising during the period, net of tax (benefit) of $(640), $(1,053) and $(618), respectively | (1,189) | (1,955) | (1,147) |
Less: reclassification adjustment for net (gain) loss on sale realized in net income, net of tax benefit (expense) of $(35), $27, and $(326), respectively | (66) | 50 | (605) |
Unrealized investment (losses), net of tax (benefit) of $(605), $(1,079) and $(292), respectively | (1,123) | (2,005) | (542) |
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, $0 and $(228), respectively | (422) | ||
Less: realized loss on cash flow hedge reclassified to earnings, net of tax benefit of $0, $0, and $214, respectively | 397 | ||
Change in fair value of hedging instruments, net of tax expense (benefit) of $0, $0 and $14, respectively | 25 | ||
Net change in unfunded pension liability: | |||
Change in unfunded pension liability related to unrealized loss, prior service cost and transition obligation, net of tax (benefit) expense of $(54), $5 and $264, respectively | (100) | 8 | 514 |
Change in unfunded pension liability related to settlement of pension plan, net of tax expense of $0, $0 and $6,082 | 11,295 | ||
Total change in unfunded pension liability, net of tax expense (benefit) of $(54), $5 and $6,346, respectively | (100) | 8 | 11,809 |
Total other comprehensive (loss) income | (1,223) | (1,997) | 11,292 |
Total comprehensive income | $ 21,793 | $ 34,039 | $ 28,046 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net unrealized gain (loss) arising during the period, tax | $ (640) | $ (1,053) | $ (618) |
Reclassification adjustment for net losses (gains) on sales realized in net income, tax | (35) | 27 | (326) |
Unrealized investment gain (loss), tax | (605) | (1,079) | (292) |
Net unrealized gain (loss) arising during the period, tax (benefit) expense | 0 | 0 | (228) |
Realized loss on cash flow hedge reclassified to earnings, tax benefit | 0 | 0 | 214 |
Change in fair value of hedging instruments, tax (benefit) expense | 0 | 0 | 14 |
Change in unfunded pension liability related to unrealized loss, prior service cost and transition obligation, tax expense (benefit) | (54) | 5 | 264 |
Change in unfunded pension liability related to settlement of pension plan, tax expense | 0 | 0 | 6,082 |
Change in unfunded pension liability, tax (benefit) expense | $ (54) | $ 5 | $ 6,346 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating activities: | |||
Net Income | $ 23,016 | $ 36,036 | $ 16,754 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan and lease losses | 2,618 | 4,326 | 4,396 |
Depreciation of fixed assets | 5,551 | 5,630 | 4,925 |
Net amortization of investment premiums and discounts | 2,990 | 3,200 | 3,280 |
Net loss on settltment of pension plan | 17,377 | ||
Net (gain) loss on sale of investment securities available for sale | (101) | 77 | (931) |
Net gain on sale of loans | (2,441) | (3,048) | (2,847) |
Stock-based compensation | 2,068 | 1,713 | 1,441 |
Amortization and net impairment of mortgage servicing rights | 744 | 880 | 661 |
Net accretion of fair value adjustments | (2,376) | (3,776) | (4,942) |
Amortization of intangible assets | 2,734 | 3,498 | 3,827 |
Impairment of intangible assets | 387 | ||
Impairment of other real estate owned ("OREO") and other repossessed assets | 208 | 94 | 90 |
Net loss (gain) on sale of OREO | 104 | 76 | (123) |
Net increase in cash surrender value of bank owned life insurance ("BOLI") | (838) | (908) | (782) |
Other, net | (568) | (970) | 874 |
Loans originated for resale | (125,482) | (161,597) | (141,578) |
Proceeds from loans sold | 132,639 | 162,762 | 138,964 |
Provision for deferred income taxes | 20,418 | 1,676 | (2,834) |
Settlement of pension liability acquired in RBPI Merger | (15,233) | ||
Excess tax benefit from stock-based compensation | (783) | ||
Change in income taxes payable/receivable | (7,917) | 4,340 | (529) |
Change in accrued interest receivable | (3,178) | (664) | (215) |
Change in accrued interest payable | (2,023) | 883 | 516 |
Net cash provided by operating activities | 32,932 | 54,228 | 37,928 |
Investing activities: | |||
Purchases of investment securities available for sale | (445,294) | (350,669) | (176,034) |
Purchases of investment securities held to maturity | (5,189) | (2,928) | |
Proceeds from maturity and paydowns of investment securities available for sale | 283,545 | 65,176 | 66,209 |
Proceeds from maturity and paydowns of investment securities held to maturity | 108 | 34 | |
Proceeds from sale of investment securities available for sale | 130,858 | 276 | 64,851 |
Net change in FHLB stock | (2,778) | (4,363) | 3,562 |
Proceeds from calls of investment securities | 25,682 | 60,840 | 104,240 |
Proceeds from sales of other investments | 664 | ||
Net change in other investments | 2,059 | 264 | (4,184) |
Purchase of domain name | (151) | ||
Net portfolio loan and lease originations | (180,869) | (266,331) | (194,066) |
Purchases of premises and equipment | (8,304) | (2,207) | (7,611) |
Purchases of BOLI | (5,000) | ||
Acquisitions, net of cash acquired | 12,301 | 16,129 | |
Proceeds from sale of OREO | 1,048 | 1,806 | 1,215 |
Net cash used in investing activities | (186,984) | (497,438) | (130,689) |
Financing activities: | |||
Change in deposits | 201,015 | 327,169 | 83,784 |
Change in short-term borrowings | 18,714 | 109,995 | (38,128) |
Dividends paid | (14,799) | (13,961) | (13,837) |
Change in long-term FHLB advances and other borrowings | (110,049) | (65,000) | (24,883) |
Payment of contingent consideration for business combinations | (642) | (627) | (542) |
Net proceeds from issuance of subordinated notes | 68,829 | 29,456 | |
Excess tax benefit from stock-based compensation | 783 | ||
Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation | (1,140) | (745) | |
Net purchase of treasury stock for deferred compensation plans | (115) | (133) | (128) |
Net purchase of treasury stock through publicly announced plans | (7,971) | (26,418) | |
Proceeds from issuance of common stock | 20 | ||
Proceeds from exercise of stock options | 1,498 | 2,181 | 6,452 |
Net cash provided by financing activities | 163,311 | 350,908 | 16,559 |
Change in cash and cash equivalents | 9,259 | (92,302) | (76,202) |
Cash and cash equivalents at beginning of period | 50,765 | 143,067 | 219,269 |
Cash and cash equivalents at end of period | 60,024 | 50,765 | 143,067 |
Supplemental cash flow information: | |||
Income taxes | 21,632 | 12,261 | 11,703 |
Interest | 13,639 | 9,872 | 7,604 |
Non-cash information: | |||
Change in other comprehensive loss | (1,223) | (1,997) | 11,292 |
Change in deferred tax due to change in comprehensive income | (659) | (1,074) | 6,068 |
Transfer of loans to other real estate owned and repossessed assets | 342 | 546 | 2,283 |
Issuance of shares, warrants and options for acquisitions | 138,509 | 123,734 | |
Acquisition of noncash assets and liabilities: | |||
Assets acquired | 849,610 | 727,908 | |
Liabilities assumed | $ 724,085 | $ 620,303 |
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] | Noncontrolling Interest [Member] | Total |
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 | |
Net Income | 16,754 | 16,754 | |||||
Dividends declared | (13,824) | (13,824) | |||||
Change in other comprehensive loss | 11,292 | 11,292 | |||||
Stock based compensation | 1,441 | 1,441 | |||||
Excess tax benefit from stock-based compensation | 783 | 783 | |||||
Retirement of treasury stock (in shares) | (4,418) | ||||||
Retirement of treasury stock | $ (4) | (40) | 44 | ||||
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 | |||||
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 | ||||||
Balance at Dec. 31, 2015 | $ 20,931 | 228,814 | (58,144) | (412) | 174,522 | 365,711 | |
Net Income | 36,036 | 36,036 | |||||
Dividends declared | (13,989) | (13,989) | |||||
Change in other comprehensive loss | (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 | (7,971) | $ (7,971) | |||||
Share-based awards and options exercises (in shares) | 183,872 | 105,830 | |||||
Share-based awards and options exercises | $ 184 | 2,121 | $ 2,305 | ||||
Tax provision-to-return adjustment related to excess tax benefit on stock-based compensation | 197 | 197 | |||||
Net purchase of treasury stock from stock award and deferred compensation plans | (878) | $ (878) | |||||
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 | |
Net Income | 23,016 | 23,016 | |||||
Dividends declared | (14,818) | (14,818) | |||||
Change in other comprehensive loss | (1,223) | (1,223) | |||||
Stock based compensation | 2,068 | 2,068 | |||||
Retirement of treasury stock (in shares) | (2,628) | ||||||
Retirement of treasury stock | $ (3) | (23) | 26 | ||||
Net purchase of treasury stock | (1,140) | (1,140) | |||||
Shares issued in acquisitions (in shares) | 3,098,754 | ||||||
Shares issued in acquisitions | $ 3,099 | 133,556 | $ 136,655 | ||||
Share-based awards and options exercises (in shares) | 152,955 | 69,527 | |||||
Share-based awards and options exercises | $ 153 | 1,458 | $ 1,611 | ||||
Net purchase of treasury stock from stock award and deferred compensation plans | (115) | (115) | |||||
Reclassification due to the adoption of ASU No. 2018-02 | (782) | 782 | |||||
Form S-4 stock issuance costs | (233) | (233) | |||||
Stock warrants assumed in acquisitions | 1,854 | 1,854 | |||||
Noncontrolling interest assumed in acquisitions | (683) | $ (683) | |||||
Balance (in shares) at Dec. 31, 2017 | 24,360,049 | 24,360,049 | |||||
Balance at Dec. 31, 2017 | $ 24,360 | $ 371,486 | $ (68,179) | $ (4,414) | $ 205,549 | $ (683) | $ 528,119 |
Consolidated Statements of Cha9
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Retained Earnings [Member] | |||
Dividends declared per share (in dollars per share) | $ 0.86 | $ 0.82 | $ 0.78 |
AOCI Attributable to Parent [Member] | |||
Other comprehensive income (loss), tax | $ 659 | $ 1,074 | $ 6,080 |
Dividends declared per share (in dollars per share) | $ 0.86 | $ 0.82 | $ 0.78 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
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, 37 eight two six On December 15, 2017, rger of Royal Bancshares of Pennsylvania, Inc. (“RBPI”) with and into the Corporation (the “RPBI Merger”), and the merger of Royal Bank America with and into the Bank, were completed. Consideration paid totaled $138.6 3,098,754 140,224 $1.9 $112 $7 $570.4 $121.6 $593.2 twelve On May 24, 2017, Hirshorn”), an insurance agency headquartered in the Chestnut Hill section of Philadelphia, was completed. Immediately after the acquisition, Hirshorn was merged into the Bank’s existing insurance subsidiary, Powers Craft Parker and Beard, Inc. The consideration paid by the Bank was $7.5 $5.8 three not $575 May 24, 2018, May 24, 2019, May 24, 2020, On April 1, 2015, RJM”), an insurance brokerage headquartered in Rosemont, Pennsylvania, was completed. Consideration paid totaled $1.0 $500 $85 $100 first two not $100 second 2016 2017, three not $100 March 31, 2018, March 31, 2019, March 31, 2020, On January 1, 2015, of Continental Bank Holdings, Inc. (“CBH”) with and into the Corporation (the “CBH Merger”), and the merger of Continental Bank with and into the Bank, were completed. Consideration paid totaled $125.1 3,878,383 $2.3 $1.3 $424.7 $181.8 $481.7 ten 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 2018, Principles of Consolidation The Consolidated Financial Statements include the accounts of the Corporation and its wholly owned subsidiaries; the Corporation ’s primary subsidiary is the Bank. In connection with the RBPI Merger, the Corporation acquired two two not 810, 810” C. Cash and Cash Equivalents Cash and cash equivalents include cash , interest-bearing and noninterest-bearing amounts due from banks, and federal funds sold. Cash balances required to meet regulatory reserve requirements of the Federal Reserve Board amounted to $5.8 $10.4 December 31, 2017 December 31, 2016, 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 credit quality of the issuer, interest rates, changes in prepayment risk, increases in capital requirements, or other similar factors, are classified as available for sale and are carried at fair value. Net unrealized gains and losses for such securities, net of tax, are required to be recognized as a separate component of shareholders’ equity and excluded from determination of net income. Gains or losses on disposition are based on the net proceeds and cost of the securities sold, adjusted for the amortization of premiums and accretion of discounts, using the specific identification method. T he Corporation follows ASC 370 10 65 1 not no not not not 2017, 2016 2015. Investments for which management 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 Investment securities held in trading accounts consist of deferred compensation trust account s 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 market are carried at the lower of cost or fair value in the aggregate. Net unrealized temporary losses, if any, are recognized through a valuation allowance by charges to income. 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 management 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 nonaccrual status or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued, but not not not 120 six Certain loans which have reached maturity and have been approved for extension or renewal, but for which all required documents have not not 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 management 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. Management ’s determination of the adequacy of the Allowance is based on guidance provided in ASC 450 310 December 31, 2017 five December 31, 2017, two one As part of the process of calculating the Allowance for the different segments of the loan a nd 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 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 ’s estimates, an additional Provision may may H . Impaired Loans and Leases A loan or lease is considered impaired when, based on current information, it is probable that management will be unable to collect the contractually scheduled payments of principal or interest. When assessing impairment, management considers various fact ors, 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 Management 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-performan ce 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 o f these acquired loans may may not 310 30. no 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 may may not not 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, 2017, $20.1 December 31, 2017, $6.9 no 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, 201 7, two 17 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 ustomers to effectively convert a variable-rate commercial loan agreement to a fixed-rate commercial loan agreement. Under these agreements, the Corporation originates variable-rate loans with customers in addition to interest rate swap agreements, which serve to effectively swap the customers’ variable-rate loans into fixed-rate loans. The Corporation then enters into corresponding swap agreements with swap dealer counterparties to economically hedge its exposure on the variable and fixed components of the customer agreements. The interest rate swaps with both the customers and third not 815 not may may 820. In addition to interest rate swaps with customers, the Corporation may which includes a derivative instrument, in exchange for fee income commensurate with the risk assumed. This type of derivative is referred to as an “RPA sold”. In addition, in an effort to reduce the credit risk associated with an interest rate swap agreement with a borrower for whom the Corporation has provided a loan structured with a derivative, the Corporation may 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 hedg ed 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, management uses valuations obtained from a third third The Corporation may changes on future net interest income. If present, the Corporation accounts for its interest-rate swap contracts in cash flow hedging relationships by establishing and documenting the effectiveness of the instrument in offsetting the change in cash flows of assets or liabilities that are being hedged. To determine effectiveness, the management performs an analysis to identify if changes in fair value or cash flow of the derivative correlate to the equivalent changes in the forecasted interest receipts or payments related to a specified hedged item. Recorded amounts related to interest-rate swaps are included in other assets or liabilities. The change in fair value of the ineffective part of the instrument would need to be charged to the Statement of Income, potentially causing material fluctuations in reported earnings in the period of the change relative to comparable periods. In a fair value hedge, the fair value of the interest rate swap agreements and changes in the fair value of the hedged items are recorded in the Corporation’s consolidated balance sheets with the corresponding gain or loss being recognized in current earnings. The difference between changes in the fair values of interest rate swap agreements and the hedged items represents hedge ineffectiveness and is recorded in net interest income in the statement of income. Management performs an assessment, both at the inception of the hedge and quarterly thereafter, to determine whether these derivatives are highly effective in offsetting changes in the value of the hedged items. In 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 our 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 market 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 not zed in the Consolidated 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. A dditional information relating to wealth management fee revenue recognition follows: The Corporation earns wealth m anagement 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 not The most significan t 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 Th e 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 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 ies; however the Corporation often retains the servicing rights related to these loans. A fee, usually based on a percentage of the outstanding principal balance of the loan, is received in return for these services. Gains on the sale of these loans are based on the specific identification method. An intangible asset, referred to as m ortgage 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 not U . Goodwill and Intangible Assets The Corporation accounts for goodwill and intangible assets in accordance with ASC 350, Intangibles – Goodwill and Other.” The amount of goodwill initially recorded is based on the fair value of the acquired entity at the time of acquisition. Management performs goodwill and intangible assets impairment testing annually, as of October 31, not October 31, 2016, December 31. 2016, December 31 October 31. not three December 31, 2017, not not may Management ’s impairment testing methodology is consistent with the methodology prescribed in ASC 350. three V . Reclassifications Certain prior year amounts have been reclassified to conform to the current year ’s presentation. W . Recent Accounting Pronouncements The following Financial Accounting Standards Board ("FASB") Accounting Standards Updates ("ASUs") are divided into pronouncements which have been adopted by the Corporation since January 1, 2017, not December 31, 2017. Adopted Pronouncements: FASB ASU 2017 08 310 20 310 20 ” Issued in March 2017, 2017 08 not December 15, 2018. The Corporation early adopted this ASU as of October 1, 2017. not FASB ASU 201 8 - 0 2 - Income Statement – Reporting Comprehensive Income (Topic 220 ): “ Reclassification of Certain Tax Effects from Other Comprehensive Income ” Issued in February 2018, 2018 02 H.R.1, 2018 December 15, 2018. not January 1, 2017 $507 $275 $782 Pronouncements Not : FASB ASU 2014 0 9 (Topic 606 “ Revenue from Contracts with Customers ” Issued in May 2014, 2014 09 require an entity to recognize revenue when it transfers promised goods or services to customers using a five August 2015, No. 2015 14, 606 2014 09 one March 2016, 2016 08, 2016 20, 606, 2016 12, 606. December 15, 2017, December 15, 2016. Because the ASU does not not closely associated with leases and financial instruments (such as interest income, interest expense, and net (loss) gain on sale of investment securities). The review is on-going, however our preliminary evaluation of other revenue streams that are within the scope of the new guidance suggests that adoption of this guidance is not first 2018 no FASB ASU 2017 04 350 Intangibles – Goodwill and Others” Issued in January 2017, 2017 04 2 2 impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. ASU 2017 04 December 15, 2019 not FASB ASU 2017 01 805 Business Combinations” Issued in January 2017, 2017 01 ion of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. ASU 2017 01 December 15, 2017 first 2018. not FASB ASU 2016 15 320 Classification of Certain Cash Receipts and Cash Payments” Issued in August 2016, 2016 15 eight zero on in business combinations, proceeds from settlement of insurance claims, proceeds from settlement of BOLI, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. ASU 2016 15 December 15, 2017, first 2018. not FASB ASU 2016 13 326 Measurement of Credit Losses on Financial Instruments” Issued in June 2016, 2 016 13 2016 13 December 15, 2019, It is expected that the new model will include different assumptions used in calculating credit losses, such as estimating losses over the estimated life of a financial asset, and will consider expected future changes in macroeconomic conditions. The adoption of this ASU may third not FASB ASU 2016 02 842 Leases” Issued in February 2016, 201 6 02 2016 02 first December 15, 2018, FASB ASU 2016 01 825 10 Financial Instruments – Overall, Recognition and Measurement of Financial Assets and Financial Liabilities” Issued in January 2016, 2016 01 lue is not may 2016 01 December 15, 2017, may first 2018 $296 December 31, 2017 Managemen t is evaluating the amendments related to equity securities without readily determinable fair values (except for FHLB, FRB, and Atlantic Central Bankers Bank stock, which are outside of the scope of this ASU), but does not may FASB ASU 2017 07 Compensation - Retirement Benefits (Topic 715 Issued in March 2017, 2017 07 one not December 15, 2017, not The Corporation will adopt this ASU in the first 2018. Upon adoption, the components of net periodic benefit cost other than the service cost component will be reclassified from “ Employee benefits” Other operating expenses Employee benefits” Other operating expenses Non-interest expenses Non-interest expenses not Net income 17 10 not not |
Note 2 - Business Combinations
Note 2 - Business Combinations | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 2 - Business Combinations Royal Bancshares of Pennsylvania, Inc. On December 15, 2017, RBPI and the Corporation, dated as of January 30, 2017 ( 3,098,754 0.1025 0.1179 $7 $112 1,368,040 $1.9 140,224 not In connection with the RBPI Merger, the consideration paid and the estimated fair value of identifiable assets acquired and liabilities assumed as of the date of the RBPI Merger are summarized in the following table: (dollars in thousands) Consideration paid: Common shares issued (3,098,754) $ 136,655 Cash in lieu of fractional shares 7 Cash-out of certain options 112 Fair value of warrants assumed 1,853 Value of consideration 138,627 Assets acquired: Cash and due from banks 17,092 Investment securities available for sale 121,587 Loans 570,373 Premises and equipment 8,264 Deferred income taxes 33,135 Bank-owned life insurance 16,550 Core deposit intangible 4,670 Favorable lease asset 566 Other assets 14,487 Total assets 786,724 Liabilities assumed: Deposits 593,172 FHLB and other long-term borrowings 59,568 Short-term borrowings 15,000 Junior subordinated debentures 21,416 Unfavorable lease liability 322 Other liabilities 31,381 Total liabilities 720,859 Net assets acquired 65,865 Goodwill resulting from acquisition of RBPI $ 72,762 Provisional Estimates of Fair Value of Certain Assets Acquired in the RBPI Merger As of December 31, 2017, hat existed as of December 15, 2017. Methods Used to Fair Value Assets and Liabilities The following is a description of the valuation methodologies used to estimate the fair values of major categories of assets acquired and liabilities assumed. In many cases, determining the fair value of the acquired assets and assumed liabilities require d management to estimate cash flows expected from those assets and liabilities and to discount those cash flows at appropriate rates of interest. This required the utilization of significant estimates and management judgment in accounting for the RBPI Merger. Cash and due from banks : The estimated fair values of cash and due from banks approximate their stated value. Investment securities available-for-sale : The estimated fair values of the investment securities available for sale, comprised of obligations of the U.S. government and agencies, state and political subdivisions, mortgage-backed securities and collateralized mortgage obligations, were based on actual sales of the investments securities immediately subsequent to the close of the RBPI Merger. No Loans held for investment : The acquisition resulted in loans acquired with and without evidence of credit quality deterioration. There was no The acquired loan portfolio was valued based on current guidance which defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Level 3 not three three 1 2 3 For loans acquired without evidence of credit quality deterioration, management prepared the interest rate loan fair value analysis. Loans were grouped by characteristics such as loan type, term, collateral and rate. Market rates for similar loans were obtained from various external data sources and reviewed by management for reasonableness. The average of these rates was used as the fair value interest rate a market participant would utilize. A present value approach was utilized to calculate the interest rate fair value adjustment. Additionally , a general credit fair value adjustment was calculated using a two 1 2 $730 $13.1 For loans acquired with evidence of credit quality deterioration management prepared a specific credit fair value adjustment. Management reviewed the acquired loan portfolio for loans meeting the definition of an impaired loan with deteriorated credit qua lity. Loans meeting this definition were reviewed by comparing the contractual cash flows to expected collectible cash flows. The aggregate expected cash flows less the acquisition date fair value results in an accretable yield amount. The accretable yield amount will be recognized over the life of the loans or over the recovery period of the underlying collateral on a level yield basis as an adjustment to yield. In certain cases, the appraisal of the underlying collateral may not December 15, 2017, At the acquisition date, the Corporation recorded a nonaccretable difference of $13.0 gate expected cash flows less the acquisition date fair value results in an accretable yield amount of $2.3 The following table summarizes the acquired impaired loans and leases as of December 15, 2017 RBPI Merger: (dollars in thousands) Contractually required principal and interest payments $ 36,138 Contractual cash flows not expected to be collected (nonaccretable difference) (13,042 ) Cash flows expected to be collected 23,096 Interest component of expected cash flows (accretable yield) (2,319 ) Fair value of loans acquired with deterioration of credit quality $ 20,777 Bank premises - owned : The Corporation acquired five $2.3 Core deposit intangible: Core deposit intangible represents the value assigned to demand, interest checking, money market and savings accounts acquired as part of the RBPI Merger. The core deposit intangible fair value represents the future economic benefit, including the present value of future tax benefits, of the potential cost savings from acquiring core deposits as part of an acquisition compared to the cost of alternative funding sources and was valued utilizing Level 3 $4.7 10 Deposits: The fair values of demand and saving deposits, with no $2.5 2 Junior subordinated debentures: The fair value of junior subordinated debentures was determined by present valuing the expected cash flows using current market rates for similar instruments. A fair value discount of $4.4 2 Deferred tax assets and liabilities: Deferred tax assets and liabilities were established for purchase accounting fair value adjustments as the future amortization/accretion of these adjustments represent temporary differences between book income and taxable income. The federal income tax rate utilized to determine the deferred tax assets and liabilities was the enacted rate as of December 15, 2017. Harry R. Hirshorn & Company, Inc., d/b/a Hirshorn Boothby (“Hirshorn”) The acquisition of Hirshorn, an insurance agency headquartered in the Chestnut Hill section of Philadelphia, was completed on May 24, 2017. $7.5 $5.8 three not $575 May 24, 2018, May 24, 2019, May 24, 2020, In connection with the Hirshorn 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 the resulting goodwill recorded : (dollars in thousands) Consideration paid: Cash paid at closing $ 5,770 Contingent payment liability (present value) 1,690 Value of consideration 7,460 Assets acquired: Cash operating accounts 978 Intangible assets – trade name 195 Intangible assets – customer relationships 2,672 Intangible assets – non-competition agreements 41 Premises and equipment 1,795 Accounts receivable 192 Other assets 27 Total assets 5,900 Liabilities assumed: Accounts payable 800 Other liabilities 2 Total liabilities 802 Net assets acquired 5,098 Goodwill resulting from acquisition of Hirshorn $ 2,362 As of December 31, 2017, identifiable assets acquired and liabilities assumed in the Hirshorn acquisition are final. Pro Forma Income Statements (unaudited) The following pro forma income statements for the twelve December 31, 201 7, 2016 2015 January 1, 2015, January 1, 2016 January 1, 2017, No three Twelve Months Ended December 31, (dollars in thousands) 2017 2016 2015 Total interest income $ 169,677 $ 155,798 $ 143,926 Total interest expense 20,113 17,134 13,963 Net interest income 149,564 138,664 129,963 Provision for loan and lease losses 3,454 5,568 3,648 Net interest income after provision for loan and lease losses 146,110 133,069 126,315 Total non-interest income 61,423 58,275 58,898 Total non-interest expenses* 140,853 124,358 149,791 Income before income taxes 66,680 67,013 35,422 Income tax expense 39,871 22,461 12,531 Net income $ 26,809 $ 44,552 $ 22,891 Per share data**: Weighted-average basic shares outstanding 20,248,879 19,958,377 20,587,079 Dilutive shares 257,591 168,499 267,996 Adjusted weighted-average diluted shares 20,506,470 20,126,876 20,855,075 Basic earnings per common share $ 1.32 $ 2.23 $ 1.11 Diluted earnings per common share $ 1.31 $ 2.21 $ 1.10 * Total non-interest expense includes RBPI Net Income Attributable to Noncontrolling Interest and Preferred Stock Series A Accumulated Dividend and Accretion for pro-forma presentation. ** Assumes that the shares of RBPI common stock outstanding as of December 31, 2017 twelve December 31, 2017, 2016, 2015, 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) 201 7 201 6 201 5 Advertising $ 180 $ — $ 162 Employee Benefits 21 — 258 Furniture, fixtures , and equipment 109 — 159 Information technology 837 — 1,168 Professional fees 3,160 — 2,471 Salaries and wages 1,285 — 1,868 Other 512 — 584 Total due diligence , and merger-related and merger integration expenses $ 6,104 $ — $ 6,670 |
Note 3 - Goodwill & Intangible
Note 3 - Goodwill & Intangible Assets | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 3 - G oodwill and I ntangible A ssets The following table presents activity in the Corporation's goodwill by its reporting units and finite-lived and indefinite-lived intangible assets, other than MSRs, for the twelve December 31, 2017 2016: (dollars in thousands) Balance December 31, 2016 Additions Amortization Balance December 31, 2017 Amortization Goodwill – Wealth $ 20,412 $ — $ — $ 20,412 Indefinite Goodwill – Banking 80,783 72,762 — 153,545 Indefinite Goodwill – Insurance 3,570 2,362 — 5,932 Indefinite Total Goodwill $ 104,765 $ 75,124 $ — $ 179,889 Core deposit intangible $ 3,447 $ 4,670 $ (737 ) $ 7,380 10 Years Customer relationships 13,056 2,672 (1,555 ) 14,173 10 to 20 Years Non-compete agreements 1,634 41 (356 ) 1,319 5 to 10 Years Trade name 2,165 195 (38 ) 2,322 3 years to Indefinite Domain name — 151 — 151 Indefinite Favorable lease assets 103 566 (48 ) 621 1 to 16 Years Total Intangible Assets $ 20,405 $ 8,295 $ (2,734 ) $ 25,966 Grand Total $ 125,170 $ 83,419 $ (2,734 ) $ 205,855 (dollars in thousands) Balance December 31, 2015 Additions Amortization Balance December 31, 2016 Amortization Goodwill – Wealth $ 20,412 $ — $ — $ 20,412 Indefinite Goodwill – Banking 80,783 — — 80,783 Indefinite Goodwill – Insurance 3,570 — — 3,570 Indefinite Total Goodwill $ 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 assets 150 — (47 ) 103 17 to 75 months Total Intangible Assets $ 23,903 $ — $ (3,498 ) $ 20,405 Grand total $ 128,668 $ — $ (3,498 ) $ 125,170 Management conducted its annual impairment tests for goodwill and indefinite-lived intangible assets as of October 31, 2017 no October 31, two December 31, 2017, no Amortization expense on finite-lived intangible assets was $2.7 $3.5 $3.8 twelve December 31, 2017, 2016, 2015, five December 31 (dollars in thousands) Fiscal Year Amount Fiscal year ending 2018 $ 3,520 2019 $ 3,218 2020 $ 2,980 2021 $ 2,764 Thereafter $ 11,167 |
Note 4 - Investment Securities
Note 4 - Investment Securities | 12 Months Ended |
Dec. 31, 2017 | |
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, 2017 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value U.S. Treasury securities $ 200,077 $ 11 $ — $ 200,088 Obligations of the U.S. government and agencies 153,028 75 (2,059 ) 151,044 Obligations of state and political subdivisions 21,352 11 (53 ) 21,310 Mortgage-backed securities 275,958 887 (1,855 ) 274,990 Collateralized mortgage obligations 37,596 14 (948 ) 36,662 Other investment securities 4,813 318 (23 ) 5,108 Total $ 692,824 $ 1,316 $ (4,938 ) $ 689,202 As of December 31, 201 6 (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 investment securities 16,575 105 (154 ) 16,526 Total $ 568,890 $ 1,669 $ (3,563 ) $ 566,996 The following table s present the aggregate amount of gross unrealized losses as of December 31, 2017 December 31, 2016 available for sale As of December 31, 2017 Less than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of the U.S. government and agencies $ 114,120 $ (1,294 ) $ 26,726 $ (765 ) $ 140,846 $ (2,059 ) Obligations of state and political subdivisions 11,144 (29 ) 2,709 (24 ) 13,853 (53 ) Mortgage-backed securities 177,919 (1,293 ) 31,787 (562 ) 209,706 (1,855 ) Collateralized mortgage obligations 5,166 (47 ) 26,686 (901 ) 31,852 (948 ) Other investment securities 1,805 (23 ) — — 1,805 (23 ) Total $ 310,154 $ (2,686 ) $ 87,908 $ (2,252 ) $ 398,062 $ (4,938 ) As of December 31, 2016 Less than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value 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 investment securities 2,203 (93 ) 11,895 (61 ) 14,098 (154 ) Total $ 226,288 $ (3,502 ) $ 11,895 $ (61 ) $ 238,183 $ (3,563 ) 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 not not not A s of December 31, 2017, 2016, $126.2 $119.4 The amortized cost and fair value of available for sale available for sale December 31, 2017 2016, may December 31, 2017 December 31, 2016 (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Investment securities 1 Due in one year or less $ 211,019 $ 211,019 $ 213,876 $ 213,885 Due after one year through five years 126,452 124,797 40,335 40,270 Due aft er five years through ten years 23,147 22,804 45,840 44,914 Due after ten years 15,439 15,421 18,079 18,055 Subtotal 376,057 374,041 318,130 317,124 Mortgage-related securities 1 313,554 311,652 235,485 234,644 Mutual funds with no stated maturity 3,213 3,509 15,275 15,228 Total $ 692,824 $ 689,202 $ 568,890 $ 566,996 1 Expected maturities of mortgage-related securities may may Proceeds from the sale of available for sale $130.9 $276 $64.9 twelve December 31, 2017, 2016 2015, available for sale $101 77 $931 twelve December 31, 2017, 2016, 2015, The amortized cost and fair value of investment securities held to maturity December 31, 2017 2016 As of Dec ember 3 1 , 201 7 (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mortgage-backed securities $ 7,932 $ 5 $ (86 ) $ 7,851 Total $ 7,932 $ 5 $ (86 ) $ 7,851 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 s present the aggregate amount of gross unrealized losses as of December 31, 2017 December 31, 2016 held to maturity As of Dec ember 3 1 , 201 7 Less than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Mortgage-backed securities $ 2,756 $ (25 ) $ 3,866 $ (61 ) $ 6,622 $ (86 ) Total $ 2,756 $ (25 ) $ 3,866 $ (61 ) $ 6,622 $ (86 ) As of Dec ember 3 1 , 2016 Less than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value 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, 2017 2016, December 31, 2017 December 31, 2016 (dollars in thousands) Amortized Cost Fair Valu e Amortized Cost Fair Value Mortgage-backed securitie s 1 $ 7,932 $ 7,851 $ 2,879 $ 2,818 Total $ 7,932 $ 7,851 $ 2,879 $ 2,818 1 Expected maturities of mortgage-related securities may may As of December 31, 2017, December 31, 2016, trading $4.6 $3.9 consisted 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, 2017 | |
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 December 2017 January 2015 November 2012 July 2010 all originated acquired A. The table below details all portfolio loans and leases as of the dates indicated: (dollars in thousands) December 31, 201 7 December 31, 2016 Loans held for sale $ 3,794 $ 9,621 Real estate loans: Commercial mortgage $ 1,523,377 $ 1,110,898 Home equity lines and loans 218,275 207,999 Residential mortgage 458,886 413,540 Construction 212,454 141,964 Total real estate loans 2,412,992 1,874,401 Commercial and industrial 719,312 579,791 Consumer 38,153 25,341 Leases 115,401 55,892 Total portfolio loans and leases 3,285,858 2,535,425 Total loans and leases $ 3,289,652 $ 2,545,046 Loans with fixed rates $ 1,573,052 $ 1,130,172 Loans with adjustable or floating rates 1,716,600 1,414,874 Total loans and leases $ 3,289,652 $ 2,545,046 Net deferred loan origination fees included in the above loan table $ (887 ) $ (735 ) The table below details the Corporation ’s originated (dollars in thousands) December 31, 201 7 December 31, 2016 Loans held for sale $ 3,794 $ 9,621 Real estate loans: Commercial mortgage $ 1,122,327 $ 946,879 Home equity lines and loans 183,283 178,450 Residential mortgage 360,935 342,268 Construction 128,266 141,964 Total real estate loans 1,794,811 1,609,561 Commercial and industrial 589,304 550,334 Consumer 35,146 25,200 Leases 68,035 55,892 Total originated portfolio loans and leases 2,487,296 2,240,987 Total originated loans and leases $ 2,491,090 $ 2,250,608 Loans with fixed rates $ 1,034,542 $ 992,917 Loans with adjustable or floating rates 1,456,548 1,257,691 Total originated loans and leases $ 2,491,090 $ 2,250,608 Net deferred loan origination fees included in the above loan table $ (887 ) $ (735 ) The table below details the Corporation ’s acquired (dollars in thousands) December 31 , 201 7 December 31, 201 6 Real estate loans: Commercial mortgage $ 401,050 $ 164,019 Home equity lines and loans 34,992 29,549 Residential mortgage 97,951 71,272 Construction 84,188 — Total real estate loans 618,181 264,840 Commercial and industrial 130,008 29,457 Consumer 3,007 141 Leases 47,366 — Total acquired portfolio loans and leases $ 798,562 $ 294,438 Loans with fixed rates $ 538,510 $ 137,255 Loans with adjustable or floating rates 260,052 157,183 Total acquired portfolio loans and leases $ 798,562 $ 294,438 B. Components of the net investment in all leases are detailed as follows: (dollars in thousands) December 31 , 201 7 December 31, 201 6 Minimum lease payments receivable $ 130,811 $ 62,379 Unearned lease income (19,861 ) (8,608 ) Initial direct costs and deferred fees 4,451 2,121 Total leases $ 115,401 $ 55,892 Components of the net investment in originated (dollars in thousands) December 31 , 201 7 December 31, 201 6 Minimum lease payments receivable $ 75,592 $ 62,379 Unearned lease income (10,338 ) (8,608 ) Initial direct costs and deferred fees 2,781 2,121 Total originated leases $ 68,035 $ 55,892 Components of the net investment in acquired (dollars in thousands) December 31 , 201 7 December 31, 201 6 Minimum lease payments receivable $ 55,219 $ — Unearned lease income (9,523 ) — Initial direct costs and deferred fees 1,670 — Total acquired leases $ 47,366 $ — C. Non-Performing Loans and Leases The following table details all (dollars in thousands) December 31, 201 7 December 31, 2 016 Non-accrual loans and leases (1) Commercial mortgage $ 872 $ 320 Home equity lines and loans 1,481 2,289 Residential mortgage 4,417 2,658 Commercial and industrial 1,706 2,957 Consumer — 2 Leases 103 137 Total $ 8,579 $ 8,363 ( 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 $167 344 December 31 201 7 December 31, 201 6 The following table details non-performing originated (dollars in thousands) December 31 , 201 7 December 31, 2016 Non-accrual originated loans and leases : Commercial mortgage $ 90 $ 265 Home equity lines and loans 1,221 2,169 Residential mortgage 1,505 1,654 Commercial and industrial 826 941 Consumer — 2 Leases 103 137 Total $ 3,745 $ 5,168 The following table details non-performing acquired (dollars in thousands) December 31 , 201 7 December 31, 201 6 Non-accrual acquired loans and leases (1) Commercial mortgage $ 782 $ 55 Home equity lines and loans 260 120 Residential mortgage 2,912 1,004 Commercial and industrial 880 2,016 Total $ 4,834 $ 3,195 ( 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 $167 34 4 December 31 201 7 December 31, 201 6 D. Purchased Credit-Impaired Loans The outstanding principal balance and related carrying amount of purchased 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 7 December 31, 201 6 Outstanding principal balance $ 46,543 $ 18,091 Carrying amount (1) $ 30,849 $ 12,432 ( 1 Includes $1.9 368 December 31 201 7 December 31, 201 6 not no $167 344 December 31 201 7 December 31, 201 6 5C, no 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, 2017: (dollars in thousands) Accretable Discount Balance, December 31, 201 6 $ 3,233 Accretion (1,934 ) Reclassifications from nonaccretable difference — Additions/adjustments 2,784 Disposals — Balance, December 31, 2017 $ 4,083 E. Age Analysis of Past Due Loans and Leases The following tables present an aging of all Accruing Loans and Leases As of December 31, 201 7 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 1,366 $ 2,428 $ — $ 3,794 $ 1,518,711 $ 1,522,505 $ 872 $ 1,523,377 Home equity lines and loans 338 10 — 348 216,446 216,794 1,481 218,275 Residential mortgage 1,386 79 — 1,465 453,004 454,469 4,417 458,886 Construction — — — — 212,454 212,454 — 212,454 Commercial and industrial 658 286 — 944 716,662 717,606 1,706 719,312 Consumer 1,106 — — 1,106 37,047 38,153 — 38,153 Leases 125 177 — 302 114,996 115,298 103 115,401 Total $ 4,979 $ 2,980 $ — $ 7,959 $ 3,269,320 $ 3,277,279 $ 8,579 $ 3,285,858 Accruing Loans and Leases As of December 31 , 201 6 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due 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 Total $ 1,723 $ 1,303 $ — $ 3,026 $ 2,524,036 $ 2,527,062 $ 8,363 $ 2,535,425 *I ncluded as “current” are $4.1 15.3 December 31, 201 7 201 6 one not not The following tables present an aging of originated Accruing Loans and Leases As of December 31, 201 7 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 1,255 $ 81 $ — $ 1,336 $ 1,120,901 $ 1,122,237 $ 90 $ 1,122,327 Home equity lines and loans 26 — — 26 182,036 182,062 1,221 183,283 Residential mortgage 721 — — 721 358,709 359,430 1,505 360,935 Construction — — — — 128,266 128,266 — 128,266 Commercial and industrial 439 236 — 675 587,803 588,478 826 589,304 Consumer 21 — — 21 35,125 35,146 — 35,146 Leases 125 177 — 302 67,630 67,932 103 68,035 Total $ 2,587 $ 494 $ — $ 3,081 $ 2,480,470 $ 2,483,551 $ 3,745 $ 2,487,296 Accruing Loans and Leases As of December 31 , 201 6 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due 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 Total $ 971 $ 877 $ — $ 1,848 $ 2,233,972 $ 2,235,820 $ 5,167 $ 2,240,987 *Included as “current” are $4.0 $1 3.5 December 31, 201 7 201 6 one not not T he following tables present an aging of acquire d Accruing Loans and Leases As of December 31 , 201 7 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 111 $ 2,347 $ — $ 2,458 $ 397,810 $ 400,268 $ 782 $ 401,050 Home equity lines and loans 312 10 — 322 34,410 34,732 260 34,992 Residential mortgage 665 79 — 744 94,295 95,039 2,912 97,951 Construction — — — — 84,188 84,188 — 84,188 Commercial and industrial 219 50 — 269 128,859 129,128 880 130,008 Consumer 1,085 — — 1,085 1,922 3,007 — 3,007 Leases — — — — 47,366 47,366 — 47,366 Total $ 2,392 $ 2,486 $ — $ 4,878 $ 788,850 $ 793,728 $ 4,834 $ 798,562 Accruing Loans and Leases As of December 31 , 201 6 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due 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 Total $ 752 $ 426 $ — $ 1,178 $ 290,064 $ 291,242 $ 3,196 $ 294,438 *Included as “current” are $102 1.8 December 31, 201 7 201 6 one not not F. Allowance for Loan and Lease Losses (the “Allowance”) The following tables detail the roll-forward of the Allowance for the twelve December 31, 2017 and December 31, 2016: (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Unallocated Total Balance, December 31, 2016 $ 6,227 $ 1,255 $ 1,917 $ 2,233 $ 5,142 $ 153 $ 559 $ — $ 17,486 Charge-offs (55 ) (675 ) (326 ) — (692 ) (154 ) (1,224 ) — (3,126 ) Recoveries 12 5 165 4 25 8 328 — 547 Provision for loan and lease losses 1,366 501 170 (1,300 ) 563 239 1,079 — 2,618 Balance, December 31, 2017 $ 7,550 $ 1,086 $ 1,926 $ 937 $ 5,038 $ 246 $ 742 $ — $ 17,525 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and 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 s detail the allocation of the Allowance for all December 31, 2017 December 31, 2016: As of December 3 1 , 201 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ 19 $ 230 $ — $ 5 $ 4 $ — $ — $ 258 Collectively evaluated for impairment 7,550 1,067 1,696 937 5,033 242 742 — 17,267 Purchased credit-impaired (1) — — — — — — — — — Total $ 7,550 $ 1,086 $ 1,926 $ 937 $ 5,038 $ 246 $ 742 $ — $ 17,525 As of December 3 1 , 201 6 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and 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 ( 1 Purchased credit-impaired loans are evaluated for impairment on an individual basis. The following table s detail the carrying value for all December 31, 2017 December 31, 2016: As of December 31, 2017 Commercial Home Equity Lines and Residential Commercial and (dollars in thousands) Mortgage Loans Mortgage Construction Industrial Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 2,128 $ 2,162 $ 7,726 $ — $ 1,897 $ 27 $ — $ 13,940 Collectively evaluated for impairment 1,503,825 215,604 451,160 204,088 712,865 38,126 115,401 3,241,069 Purchased credit-impaired (1) 17,424 509 — 8,366 4,550 — — 30,849 Total $ 1,523,377 $ 218,275 $ 458,886 $ 212,454 $ 719,312 $ 38,153 $ 115,401 $ 3,285,858 ( 1 Purchased credit-impaired loans are evaluated for impairment on an individual basis. As of December 31, 2016 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Industrial 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 ( 1 Purchased credit-impaired loans are evaluated for impairment on an individual basis. The following table s detail the allocation of the Allowance for originated December 31, 2017 December 31, 2016: As of December 3 1 , 201 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ 19 $ 180 $ — $ 5 $ 4 $ — $ — $ 208 Collectively evaluated for impairment 7,550 1,067 1,696 937 5,033 242 742 — 17,267 Purchased credit-impaired (1) — — — — — — — — — Total $ 7,550 $ 1,086 $ 1,876 $ 937 $ 5,038 $ 246 $ 742 $ — $ 17,475 As of December 3 1 , 201 6 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and 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 The following table s detail the carrying value for originated December 31, 2017 December 31, 2016: As of December 31 , 201 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 1,345 $ 1,902 $ 4,418 $ — $ 1,186 $ 27 $ — $ 8,878 Collectively evaluated for impairment 1,120,982 181,381 356,517 128,266 588,118 35,119 68,035 2,478,418 Total $ 1,122,327 $ 183,283 $ 360,935 $ 128,266 $ 589,304 $ 35,146 $ 68,035 $ 2,487,296 As of December 31, 201 6 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and 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 The following table s detail the allocation of the Allowance for acquired December 31, 2017 December 31, 2016: As of December 31 , 201 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 50 $ — $ — $ — $ — $ 50 Collectively evaluated for impairment — — — — — — — — Purchased credit-impaired (1) — — — — — — — — Total $ — $ — $ 50 $ — $ — $ — $ — $ 50 ( 1 Purchased credit-impaired loans are evaluated for impairment on an individual basis. As of December 31 , 2016 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 28 $ — $ — $ — $ — $ 28 Collectively evaluated for impairment — — — — — — — — Purchased credit-impaired (1) — — — — — — — — Total $ — $ — $ 28 $ — $ — $ — $ — $ 28 ( 1 Purchased credit-impaired loans are evaluated for impairment on an individual basis. The following tables detail the carrying value for acquired December 31, 2017 December 31, 2016: As of December 31 , 201 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 783 $ 260 $ 3,308 $ — $ 711 $ — $ — $ 5,062 Collectively evaluated for impairment 382,843 34,223 94,643 75,822 124,747 3,007 47,366 762,651 Purchased credit-impaired (1) 17,424 509 — 8,366 4,550 — — 30,849 Total $ 401,050 $ 34,992 $ 97,951 $ 84,188 $ 130,008 $ 3,007 $ 47,366 $ 798,562 ( 1 Purchased credit-impaired loans are evaluated for impairment on an individual basis. As of December 31, 201 6 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Carrying value of loans and leases: Individually evaluated f or 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 ( 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 • 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 • 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, 2017 December 31, 2016: Credit Risk Profile by Internally Assigned Grade Commercial Mortgage Construction Commercial and Industrial Total (dollars in thousands) December 31 , 201 7 December 31, 201 6 December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Pass $ 1,490,862 $ 1,099,557 $ 193,227 $ 140,370 $ 711,145 $ 570,342 $ 2,395,234 $ 1,810,269 Special Mention 13,448 1,892 3,902 — 889 2,315 18,239 4,207 Substandard 18,194 9,449 15,325 1,594 6,013 5,512 39,532 16,555 Doubtful 873 — — — 1,265 1,622 2,138 1,622 Total $ 1,523,377 $ 1,110,898 $ 212,454 $ 141,964 $ 719,312 $ 579,791 $ 2,455,143 $ 1,832,653 Credit Risk Profile by Payment Activity Residential Mortgage Home Equity Lines and Loans Consumer Leases Total (dollars in thousands) December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 Performing $ 454,469 $ 410,882 $ 216,794 $ 205,710 $ 38,153 $ 25,339 $ 115,298 $ 55,755 $ 824,714 $ 697,686 Non-performing 4,417 2,658 1,481 2,289 — 2 103 137 6,001 5,086 Total $ 458,886 $ 413,540 $ 218,275 $ 207,999 $ 38,153 $ 25,341 $ 115,401 $ 55,892 $ 830,715 $ 702,772 The following tables detail the carrying value of originated December 31, 2017 December 31, 2016: Credit Risk Profile by Internally Assigned Grade Commercial Mortgage Construction Commercial and Industrial Total (dollars in thousands) December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 Pass $ 1,114,171 $ 936,737 $ 126,260 $ 140,370 $ 586,896 $ 544,876 $ 1,827,327 $ 1,621,983 Special Mention — 1,892 — — 664 2,279 664 4,171 Substandard 8,156 8,250 2,006 1,594 1,389 3,054 11,551 12,898 Doubtful — — — — 355 125 355 125 Total $ 1,122,327 $ 946,879 $ 128,266 $ 141,964 $ 589,304 $ 550,334 $ 1,839,897 $ 1,639,177 Credit Risk Profile by Payment Activity Residential Mortgage Home Equity Lines and Loans Consumer Leases Total (dollars in thousands) December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 Performing $ 359,430 $ 340,615 $ 182,062 $ 176,281 $ 35,146 $ 25,198 $ 67,932 $ 55,755 $ 644,570 $ 597,849 Non-performing 1,505 1,653 1,221 2,169 — 2 103 137 2,829 3,961 Total $ 360,935 $ 342,268 $ 183,283 $ 178,450 $ 35,146 $ 25,200 $ 68,035 $ 55,892 $ 647,399 $ 601,810 The following tables detail the carrying value of acquired December 31, 2017 December 31, 2016: Credit Risk Profile by Internally Assigned Grade Commercial Mortgage Construction Commercial and Industrial Total (dollars in thousands) December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31 , 201 6 Pass $ 376,691 $ 162,820 $ 66,967 $ — $ 124,249 $ 25,466 $ 567,907 $ 188,286 Special Mention 13,448 — 3,902 — 225 36 17,575 36 Substandard 10,038 1,199 13,319 — 4,624 2,458 27,981 3,657 Doubtful 873 — — — 910 1,497 1,783 1,497 Total $ 401,050 $ 164,019 $ 84,188 $ — $ 130,008 $ 29,457 $ 615,246 $ 193,476 Credit Risk Profile by Payment Activity Residential Mortgage Home Equity Lines and Loans Consumer Leases Total (dollars in thousands) December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2 017 December 31, 2016 December 31 , 2017 December 31, 2016 Performing $ 95,039 $ 70,267 $ 34,732 $ 29,429 $ 3,007 $ 141 $ 47,366 $ — $ 180,144 $ 99,837 Non-performing 2,912 1,005 260 120 — — — — 3,172 1,125 Total $ 97,951 $ 71,272 $ 34,992 $ 29,549 $ 3,007 $ 141 $ 47,366 $ — $ 183,316 $ 100,962 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 not The following table presents the balance of TDRs as of the indicated dates: (dollars in thousands) December 31 , 201 7 December 31, 201 6 TDRs included in nonperforming loans and leases $ 3,289 $ 2,632 TDRs in compliance with modified terms 5,800 6,395 Total TDRs $ 9,089 $ 9,027 The following table present s information regarding loan and lease modifications categorized as TDRs for the twelve December 31, 2017: For the Twelve Months Ended December 31 , 201 7 (dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Residential 3 $ 432 $ 432 Home equity lines and loans 3 582 582 Leases 4 100 100 Total 10 $ 1,114 $ 1,114 The following table present s information regarding the types of loan and lease modifications made for the twelve December 31, 2017: Number of Contracts 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 Residential 1 1 1 — — Home equity lines and loans — — 3 — — Leases — — — 4 — Total 1 1 4 4 — The following table present s information regarding loan and lease modifications categorized as TDRs for the twelve December 31, 2016: For the Twelve Months Ended December 31, 201 6 (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 present s information regarding the types of loan and lease modifications made for the twelve December 31, 2016: Number of Contracts 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 During the twelve December 31, 2017, one $63 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, 2017, 2016 2015 not As of or for the Twelve Months Ended December 31, 2017 (dollars in thousands) Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized I mpaired loans with related allowance: Home equity l ines and loans $ 577 $ 577 $ 19 $ 232 $ 7 $ — Residential mortgage 2,436 2,435 230 2,467 127 — Commercial and industrial 18 19 5 19 1 — Consumer 27 27 4 28 1 — Total $ 3,058 $ 3,058 $ 258 $ 2,746 $ 136 $ — Impaired loans* without related allowance: Commercial mortgage $ 2,128 $ 2,218 $ — $ 2,205 $ 85 $ — Home equity lines and loans 1,585 1,645 — 1,636 38 — Residential mortgage 5,290 5,529 — 4,994 191 — Commercial and industrial 1,879 3,613 — 2,079 35 — Total $ 10,882 $ 13,005 $ — $ 10,914 $ 349 $ — Grand total $ 13,940 $ 16,063 $ 258 $ 13,660 $ 485 $ — *The table above does not $272 **Recorded investment equals principal balance less partial charge-offs and interest payments on non-performing loans that have been applied to principal. As of or for the Twelve Months Ended December 31, 2016 (dollars in thousands) Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized I mpaired 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 24 0 **Recorded investment equals principal balance less partial charge-offs and interest payments on non-performing loans that have been applied to principal. As of or for the Twelve Months Ended December 31, 2015 (dollars in thousands) Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized I mpaired 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 7 7 **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 As of December 31, 2017 (dollars in thousands) Outstanding Principal Remaining Loan Mark Recorded Investment Commercial mortgage $ 412,263 $ (11,213 ) $ 401,050 Home equity lines and loans 37,944 (2,952 ) 34,992 Residential mortgage 101,523 (3,572 ) 97,951 Construction 86,081 (1,893 ) 84,188 Commercial and industrial 141,960 (11,952 ) 130,008 Consumer 3,051 (44 ) 3,007 Leases 50,530 (3,164 ) 47,366 Total $ 833,352 $ (34,790 ) $ 798,562 As of December 31, 201 6 (dollars in thousands) 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 |
Note 6 - Other Real Estate Owne
Note 6 - Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | Note 6 - O ther Real Estate Owned 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) 201 7 201 6 Balance January 1 $ 1,017 $ 2,638 Additions 560 355 Impairments (121 ) (94 ) Sales (1,152 ) (1,882 ) Balance December 31 $ 304 $ 1,017 As of December 31, 201 7, two |
Note 7 - Premises and Equipment
Note 7 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 7 - Premises and Equipment A. A summary of premises and equipment is as follows: December 31, (dollars in thousands) 201 7 201 6 Land $ 9,522 $ 5,306 Buildings 31,376 24,998 Furniture and equipment. 38,775 36,930 Leasehold improvements 26,636 24,713 Construction in progress 4,171 56 Less: accumulated depreciation (56,022 ) (50,225 ) Total $ 54,458 $ 41,778 Depreciation and amortization expense related to the assets detailed in the above table for the years ended December 31, 2017, 2016, 2015 $5.7 $5.8 $5.1 B. Future minimum cash rent commitments under various operating leases as of December 31, 201 7 are as follows: (dollars in thousands) Commitments 201 8 $ 6,833 201 9 4,535 20 20 3,959 20 21 3,333 20 22 2,776 20 23 and thereafter 11,082 Total $ 32,518 Rent expense on leased premises and equipment for the years ended December 31, 2017, 2016 2015 $4.7 $4.6 $5.1 |
Note 8 - Mortgage Servicing Rig
Note 8 - Mortgage Servicing Rights ("MSR"s) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Transfers and Servicing of Financial Assets [Text Block] | Note 8 - Mortgage Servicing Rights (“MSR”s) A. The following summarizes the Corporation ’s activity related to MSRs for the years ended December 31: (dollars in thousands) 201 7 201 6 201 5 Balance, January 1 $ 5,582 $ 5,142 $ 4,765 Additions 1,025 1,321 1,037 Amortization (791 ) (750 ) (590 ) Recovery / Impairment) 45 (131 ) (70 ) Balance, December 31 $ 5,861 $ 5,582 $ 5,142 Fair value $ 6,397 $ 6,154 $ 5,726 Residential mortgage loans serviced for others $ 650,703 $ 631,889 $ 601,939 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) 201 7 201 6 201 5 Balance, January 1 $ (1,805 ) $ (1,674 ) $ (1,604 ) Impairment (52 ) (715 ) (123 ) Recovery 97 584 53 Balance, December 31 $ (1,760 ) $ (1,805 ) $ (1,674 ) C. Other MSR Information – At December 31, 2017, 10 20 (dollars in thousands) Fair value amount of MSRs $ 6,397 Weighted average life (in years) 6.1 Prepayment speeds (constant prepayment rate)* 10.3 % Impact on fair value: 10% adverse change $ (194 ) 20% adverse change $ (394 ) 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, 2017, 2016, 2015, $6.4 $6.2 $5.7 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 not one may |
Note 9 - Deposits
Note 9 - Deposits | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | Note 9 - Deposits A. The following table details the components of deposits: As of December 31, (dollars in thousands) 201 7 2016 Savings $ 338,572 $ 232,193 NOW accounts* 482,252 380,057 Market rate accounts* 923,999 835,296 Retail t ime deposits, less than $100 272,528 139,276 Retail t ime deposits, $100 or more 259,674 183,636 Wholesale time deposits 171,929 73,037 Total interest-bearing deposits $ 2,448,954 $ 1,843,495 Non-interest-bearing deposits 924,844 736,180 Total deposits $ 3,373,798 $ 2,579,675 * Includes wholesale deposits. The aggregate amount of deposit and mortgage escrow overdrafts included as loans as of December 31, 2017 2016 $669 $818 The aggregate amount of time deposits in denomin ations over $250 $193.3 $117.8 December 31, 2017 and 2016, respectively. B. The following tables detail the maturities of retail time deposits: As of December 31, 201 7 (dollars in thousands) Less than $100 $100 or more Maturing during: 201 8 $ 183,049 $ 197,127 201 9 52,972 40,707 20 20 16,794 11,020 20 21 13,737 8,471 20 22 and thereafter 5,976 2,349 Total $ 272,528 $ 259,674 C. The following tables detail the maturities of wholesale time deposits: As of December 31, 201 7 (dollars in thousands) Less than $100 $100 or more Maturing during: 201 8 $ 3,729 $ 153,207 2019 — 14,993 Total $ 3,729 $ 168,200 |
Note 10 - Short-term Borrowings
Note 10 - Short-term Borrowings and Long-term FHLB Advances | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | Note 10 - S hort- T erm Borrowings and Long-Term FHLB Advances A. Short-term borrowings As of December 31, 2017 2016, $237.9 $204.2 one A summary of short-term borrowings is as follows: As of December 31, (dollars in thousands) 201 7 201 6 Repurchase agreements * – commercial customers $ 25,865 $ 39,151 Short-term FHLB advances 212,000 165,000 Total short-term borrowings $ 237,865 $ 204,151 * Overnight repurchase agreements with no The following table sets forth information concerning short-term borrowings: As of or Twelve Months Ended December 31, (dollars in thousands) 2017 2016 Balance at period-end $ 237,865 $ 204,151 Maximum amount outstanding at any month end $ 237,865 $ 204,151 Average balance outstanding during the period $ 128,008 $ 37,041 Weighted-average interest rate: As of the period-end 1.40 % 0.66 % Paid during the period 1.09 % 0.25 % 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, 2017, 2016, $139.1 $189.7 one The following table presents the remaining periods until maturity of long-term FHLB advances: As of December 31, (dollars in thousands) 201 7 2016 Within one year $ 83,766 $ 75,000 Over one year through five years 55,374 114,742 Total $ 139,140 $ 189,742 The following table presents rate and maturity information on FHLB advances and other borrowings: Maturity Range (1) Weighted Average Coupon Rate (1) Balance at December 31, Description From To Rate (1) From To 2017 2016 Bullet maturity – fixed rate 2/14/2018 8/24/2021 1.63 % 1.05 % 2.13 % 118,131 153,612 Bullet maturity – variable rate N/A N/A N/A N/A N/A — 15,000 Convertible-fixed (2) 1/3/2018 8/20/2018 2.94 % 2.58 % 3.50 % 21,009 21,130 Total $ 139,140 $ 189,742 ( 1 Maturity range, weighted average rate and coupon rate range refers to December 31, 2017 ( 2 FHLB advances whereby the FHLB has the option, at predetermined times, to convert the fixed interest rate to an adjustable interest rate indexed to the London Interbank Offered Rate (“LIBOR”). The Corporation has the option to prepay these advances, without penalty, if the FHLB elects to convert the interest rate to an adjustable rate. As of December 31 2017, 201 8 C. Other Borrowings Information In connection with its FHLB borrowings, the Corporation is required to hold the capital stock of the FHLB. The amount of capital stock held was $20.1 December 31, 2017, $17.3 December 31, 2016. 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 . The Corporation had a maximum borrowing capacity with the FHLB of $1.37 December 31, 2017 $1.02 $79.0 $121.3 |
Note 11 - Subordinated Notes
Note 11 - Subordinated Notes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | Note 11 – Subordinated Notes On December 13, 2017, $70.0 2027 "2027 public offering.The net proceeds of the offering, which totaled $68.8 may not . The 2027 4.25% December 14, 2022, first June 15, 2018 December 15 June 15 through December 15, 2022. 2027 three 2.050% December 15, 2027, March 15, June 15, September 15 December 15 December 15, 2022, 2027 100% 2027 On August 6, 2015, $30 2025 "2025 . $29.5 e using the effective interest method . The 2025 4.75% August 14, 2020, first February 15, 2016 August 1 5 February 15 August 15, 2020. 2025 three 3.068% August 15, 2025, November 15, February 15, May 15 August 15 August 15, 2020, 2025 100% 2025 In conjunction with the issuance of the 2025 oll 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. December 31, 2017 . |
Note 12 - Junior Subordinated D
Note 12 - Junior Subordinated Debentures | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Junior Subordinated Borrowings Disclosure [Text Block] | Note 1 2 – Junior Subordinated Debentures In connection with the RBPI Merger, the Corporation acquired Royal Bancshares Capital Trust I (“Trust I”) and Royal Bancshares Capital Trust II (“Trust II”) (collectively, the “Trusts”), which were utilized for the sole purpose of issuing and selling capital securities representing preferred beneficial interests. Although the Corporation owns $774,000 not not $10.7 $21.4 3.74% December 31, 2017. 3 2.15%. Each of Trust I and Trust II issued an aggregate principal amount of $12.5 $387 As a result of the RBPI Merger, the Corporation has fully and unconditionally guaranteed all of the obligations of the Trusts, including any distributions and payments on liquidation or redemption of the capital securities. The rights of holders of common securities of the Trusts are subordinate to the rights of the holders of capital securities only in the event of a default; otherwise, the common securities ’ economic and voting rights are pari passu with the capital securities. The capital and common securities of the Trusts are subject to mandatory redemption upon the maturity or call of the junior subordinated debentures held by each. Unless earlier dissolved, the Trusts will dissolve on December 15, 2034. December 15, 2034, may December 15, 2009. $ 387,000 |
Note 13 - Derivatives and Hedgi
Note 13 - Derivatives and Hedging Activities | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | N ote 1 3 - D erivatives and Hedging Activities Derivative financial instruments involve, to varying degrees, interest rate, market and credit risk. The C orporation manages these risks as part of its asset and liability management process and through credit policies and procedures. The Corporation seeks to minimize counterparty credit risk by establishing credit limits and collateral agreements and utilizes certain derivative financial instruments to enhance its ability to manage interest rate risk that exists as part of its ongoing business operations. The derivative transactions entered into by the Corporation are an economic hedge of a derivative offerings to Bank customers. The Corporation does not Customer Derivatives – Interest Rate Swaps . The Corporation enters into interest rate swaps that allow commercial loan customers to effectively convert a variable-rate commercial loan agreement to a fixed-rate commercial loan agreement. Under these agreements, the Corporation originates variable-rate loans with customers in addition to interest rate swap agreements, which serve to effectively swap the customers’ variable-rate loans into fixed-rate loans. The Corporation then enters into corresponding swap agreements with swap dealer counterparties to economically hedge its exposure on the variable and fixed components of the customer agreements. The interest rate swaps with both the customers and third not 815 not may may 820. December 31, 2017, no Risk Participation Agreements . The Corporation may may The following tables detail the derivative instruments as of December 31, 2017 December 31, 2016: Asset Derivatives Liability Derivatives (dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Derivatives not designated as hedging instruments As of December 31, 2017: Customer derivatives – interest rate swaps $ 124,627 $ 1,895 $ 124,627 $ 1,895 Risk participation agreements sold — — 899 3 Risk participation agreements purchased 14,710 21 — — Total derivatives $ 139,337 $ 1,916 $ 125,526 $ 1,898 As of December 31, 2016: Customer derivatives – interest rate swaps $ — $ — $ — $ — Risk participation agreements — — — — Total derivatives $ — $ — $ — $ — The Corporation has International Swaps and Derivatives Association agreements with third third December 31, 2017 December 31, 2016 $1.3 $0, third may third $1.6 $0 December 31, 2017 December 31, 2016, |
Note 14 - Disclosure About Fair
Note 14 - Disclosure About Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | Note 1 4 – Disclosure about Fair Value of Financial Instruments FASB ASC 825, not not not not 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 consolidated balance sheets for cash and cash equivalents approximate their fair values. Investment Securities Fair values for investment securities are generally determined by management including the use of an independent third n. Management reviews, annually, the process utilized by its independent third third not third Loans Held for Sale The fair value of loans held for sale is based on pricing obtained from secondary markets. Net Portfolio Loans and Leases For variable rate loans that reprice frequently and which have no 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 not Impaired Loans Management 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 ’s collateral has a unique appraisal and management’s discount of the value is based on the factors unique to each impaired loan. The significant unobservable input in determining the fair value is management’s subjective discount on appraisals of the collateral securing the loan, which range from 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 and the lack of observable inputs, the Corporation classifies the value of MSRs as using Level 3 Other Assets Due to their short-term nature, t he carrying amounts of accrued interest receivable, income taxes receivable and other investments approximate their fair value. Interest Rate Swaps and Risk Participation Agreements The Co rporation’s interest rate swaps and RPAs are reported at fair value utilizing Level 2 may 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 Junior subordinated debentures F air values of junior subordinated debt are estimated using discounted cash flow analysis, based on market rates currently offered on such debt with similar credit risk characteristics, terms and remaining maturity. 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 3 Off-Balance Sheet Instruments The fair values of the Corporation’s commitments to extend credit, standby letters of credit and financial guarantees are not The carrying amount and fair value of the Corporation ’s financial instruments are as follows: As of December 31, 201 7 201 6 (dollars in thousands) Fair Value Hierarchy Level * Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Cash and cash equivalents Level 1 $ 60,024 $ 60,024 $ 50,765 $ 50,765 Investment securities - available for sale See Note 15 689,202 689,202 566,996 566,996 Investment securities - trading See Note 15 4,610 4,610 3,888 3,888 Investment securities – held to maturity Level 2 7,932 7,851 2,879 2,818 Loans held for sale Level 2 3,794 3,794 9,621 9,621 Net portfolio loans and leases Level 3 3,268,333 3,293,802 2,517,939 2,505,546 Mortgage servicing rights Level 3 5,861 6,397 5,582 6,154 Interest rate swaps Level 2 1,895 1,895 — — Risk participation agreements purchased Level 2 21 21 — — Other assets Level 3 46,799 46,799 34,465 34,465 Total financial assets $ 4,088,471 $ 4,114,395 $ 3,192,135 $ 3,180,253 Financial liabilities: Deposits Level 2 $ 3,373,798 $ 3,368,276 $ 2,579,675 $ 2,579,011 Short-term borrowings Level 2 237,865 237,865 204,151 204,151 Long-term FHLB advances Level 2 139,140 138,685 189,742 186,863 Subordinated notes Level 2 98,416 95,044 29,532 29,228 J unior subordinated debentures Level 2 21,416 19,366 — — Interest rate swaps Level 2 1,895 1,895 — — Risk participation agreements sold Level 2 3 3 — — Other liabilities Level 3 49,071 49,071 37,303 37,303 Total financial liabilities $ 3,921,604 $ 3,910,205 $ 3,040,403 $ 3,036,556 *S ee Note 15 in the Notes to consolidated financial statements for a description of hierarchy levels . |
Note 15 - Fair Value Measuremen
Note 15 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 1 5 - Fair Value Measurement FASB ASC 820, , it is required to disclose additional information about the assumptions used and the effect of the measurement on earnings or the net change in assets for the period. 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 not two may may not 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 – Quoted prices in active markets for identical securities. Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not Level 3 – Instruments whose significant value drivers are unobservable. These levels are not December 31, 2017 2016 Fair value of assets measured on a recurring basis as of December 31, 2017: (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 151.0 — 151.0 — Obligations of state & political subdivisions 21.3 — 21.3 — Mortgage-backed securities 275.0 — 275.0 — Collateralized mortgage obligations 36.7 — 36.7 — Mutual funds 8.1 8.1 — — Other debt securities 1.6 — 1.6 — Interest rate swaps 1.9 — 1.9 — Total assets measured on a recurring basis at fair value $ 69 5.7 $ 208. 2 $ 48 7.5 $ — Fair value of assets measured on a non-recurring basis a s of December 31, 2017: (dollars in millions) Total Level 1 Level 2 Level 3 Mortgage servicing rights $ 6.4 $ — $ — $ 6.4 Impaired loans and leases 14.0 — — 14.0 OREO 0.3 — — 0.3 Total assets measured at fair value on a non-recurring basis $ 20.7 $ — $ — $ 20.7 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 a s 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 For the twelve December 31, 2017, $175 twelve December 31, 2016, $607 no twelve December 31, 2017. |
Note 16 - 401(K) Plan and Other
Note 16 - 401(K) Plan and Other Defined Contribution Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 1 6 - 401 and Other Defined Contribution Plans The Corporation has a qualified defined contribution plan (the “401 3.0% 401 $1.2 $1.0 $920 twelve December 31, 2017, 2016 2015, In addition to the matching contribution above, the Corporation provides a discretionary, non-matching employer contribution to the 401 $489 $126 $1.3 twelve December 31, 2017, 2016 2015, December 31, 2015 $2.3 transferred to the Corporation’s 401 twelve December 31, 2015 was significantly higher, as compared to the succeeding two On June 28, 2013, the “EDCP”), a non-qualified defined-contribution plan which was restricted to certain senior officers of the Corporation. The intended purpose of the EDCP is to provide deferred compensation to a select group of employees. The Corporation recognized expense for contributions to the EDCP of $238 $272 $164 twelve December 31, 2017, 2016 2015, |
Note 17 - Pension and Postretir
Note 17 - Pension and Postretirement Benefit Plans | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 1 7 - Pension and Postretirement Benefit Plans A. General Overview – Prior to December 31, 2015, three 20 1/2 two On May 29, 2015, settle the QDBP. On June 2, 2015, December 31, 2015. $17.4 twelve December 31, 2015. SERP I provide s 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. T he 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 of the years indicated : QDBP SERP I and SERP II PRBP 201 7 201 6 201 7 201 6 201 7 201 6 Discount rate N/A N/A 3.30 % 3.75 % 2.75 % 2.80 % 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) 201 7 201 6 201 7 201 6 201 7 201 6 Change in benefit obligations Benefit obligation at January 1 $ — $ 169 $ 4,786 $ 4,830 $ 418 $ 493 Service cost — — — — — — Interest cost — — 176 184 11 17 Plan participants contribution — — — — 44 49 Actuarial loss (gain) — — 282 32 (9 ) (6 ) Settlements — — — — — — Benefits paid — (169 ) (261 ) (260 ) (111 ) (135 ) Benefit obligation at December 31 $ — $ — $ 4,983 $ 4,786 $ 353 $ 418 Change in plan assets Fair value of plan assets at January 1 $ — $ 169 $ — $ — $ — $ — Actual return on plan assets — — — — — — Settlements — — — — — — Excess assets transferred to defined contribution plan — — — — — — Employer contribution — — 261 260 67 86 Plan participants ’ contribution — — — — 44 49 Benefits paid — (169 ) (261 ) (260 ) (111 ) (135 ) Fair value of plan assets at December 31 $ — $ — $ — $ — $ — $ — Funded status at year end (plan assets less benefit obligations) $ — $ — $ (4,983 ) $ (4,786 ) $ (353 ) $ (418 ) For the Twelve Months Ended December 31, QDBP SERP I & SERP II PRBP Amounts included in the Consolidated Balance Sheet as Other assets (liabilities) and accumulated other comprehensive income including the following: 201 7 201 6 201 7 201 6 201 7 201 6 Prepaid benefit cost/(accrued liability) $ — $ — $ (3,221 ) $ (3,248 ) $ (149 ) $ (170 ) Net actuarial loss — — (1,762 ) (1,539 ) (204 ) (248 ) Prior service cost — — — — — — Unrecognized net initial obligation — — — — — — Net included in Other liabilities in the Consolidated Balance Sheets $ — $ — $ (4,983 ) $ (4,787 ) $ (353 ) $ (418 ) D. The following tables provide the components of net periodic pension costs for the period s indicated : QDBP Net Periodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Service cost $ — $ — $ — Interest cost — — 1,589 Expected return on plan assets — — (3,217 ) Amortization of prior service cost — — — Recognition of net actuarial loss — — 1,913 Recognition of net actuarial loss due to settlement — — 17,377 Net periodic pension cost $ — $ — $ 17,662 SERP I and SERP II Pe riodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Service cost $ — $ — $ — Interest cost 176 184 184 Amortization of prior service cost — — — Recognition of net actuarial loss 59 57 63 Net periodic pension cost $ 235 $ 241 $ 247 PRBP Net Periodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Service cost $ — $ — $ — Interest cost 11 17 18 Amortization of prior service cost — — — Recognition of net actuarial loss 36 41 37 Net periodic pension cost $ 47 $ 58 $ 55 For the Twelve Months Ended December 31, Discount Rate Used in the Calculation of Periodic Pension Costs 201 7 201 6 201 5 SERP I and SERP II 3.75 % 3.90 % 3.70 % PRBP 2.80 % 3.90 % 3.70 % E. Plan Assets: The PRBP, SERP I and SERP II are unfunded plans and, as such, have no 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 2018 $ 260 $ 67 2019 $ 259 $ 58 2020 $ 258 $ 51 2021 $ 255 $ 43 2022 $ 283 $ 37 2023-2027 $ 1,751 $ 105 G. Other Pension and Post Retirement Benefit Information In 2005, placed a cap on the future annual benefit payable through the PRBP. This cap is equal to 120% 2005 H. Expected Contribution to be Paid in the Next Fiscal Year The 201 8 $260 I. Actuarial Losses As indicated in section C of this footnote, the Corporation ’s pension plans had cumulative actuarial losses as of December 31, 2017 10% |
Note 18 - Accumulated Other Com
Note 18 - Accumulated Other Comprehensive Loss | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | Note 1 8 – Accumulated Other Comprehensive Loss twelve December 31, 2017, 2016 2015: (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, 2014 $ 1,316 $ (25 ) $ (12,995 ) $ (11,704 ) Other comprehensive (loss) income (542 ) 25 11,809 11,292 Balance, December 31, 2015 $ 774 $ — $ (1,186 ) $ (412 ) Balance, December 31, 2015 $ 774 $ — $ (1,186 ) $ (412 ) Other comprehensive (loss) income (2,005 ) — 8 (1,997 ) Balance, December 31, 2016 $ (1,231 ) $ — $ (1,178 ) $ (2,409 ) Balance, December 31, 2016 $ (1,231 ) $ — $ (1,178 ) $ (2,409 ) Other comprehensive (loss) income (1,123 ) — (100 ) (1,223 ) Reclassification due to the adoption of ASU No. 2018-02 (507 ) — (275 ) (782 ) Balance, December 31, 2017 $ (2,861 ) $ — $ (1,553 ) $ (4,414 ) The following tables detail the amounts reclassified from each component of accumulated other compr ehensive loss for the twelve December 31, 2017, 2016 2015: Amount Reclassified from Accumulated Other Comprehensive Loss Description of Accumulated Other For the Twelve Months Ended December 31, Affected Income Statement Comprehensive Loss Component 201 7 201 6 201 5 Category Net unrealized gain on investment securities available for sale: Realization of (loss) gain on sale of investment securities available for sale $ 101 $ (77 ) $ 931 Net gain (loss) on sale of available for sale investment securities L ess: income tax (expense) benefit (35 ) 27 (326 ) Less: income tax benefit (expense) Net of income tax $ 66 $ (50 ) $ 605 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* $ 95 $ 98 $ 2,013 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* — — — Employee benefits Gain on curtailment of SERP II — — — Net gain on curtailment of nonqualified pension plan Total $ 95 $ 98 $ 19,390 Total expense before income tax benefit Less: income tax benefit 33 34 6,787 Less: income tax benefit Net of income tax $ 62 $ 64 $ 12,603 Net of income tax *Accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 17 |
Note 19 - Income Taxes
Note 19 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 19 – Income Taxes A. Components of Net Deferred Tax Asset: December 31, (dollars in thousands) 2017 2016 Deferred tax assets: Loan and lease loss reserve $ 3,948 $ 6,492 Other reserves 3,169 3,611 Net operating loss carry-forward 11,113 471 Alternative minimum tax credits 1,116 567 Unrealized depreciation of available for sale securities 761 663 Defined benefit plans 1,361 2,068 RBPI Merger Fair Values 4,726 — Total deferred tax asset $ 26,194 $ 13,872 Deferred tax liabilities: Other reserves $ 19 $ 52 Originated MSRs 1,253 1,969 Amortizing fair value adjustments 970 1,336 Other 53 — Total deferred tax liability $ 2,295 $ 3,357 Total net deferred tax asset $ 23,899 $ 10,515 Not are deferred tax assets for state net operating losses and unrealized capital losses for partnership investments and their respective valuation allowance of $211 $445 December 31, 2017 2023 2036. As a result of the RBPI Merger, deferred tax assets were initially increased by $33.1 B. The provision (benefit) for income taxes consists of the following: December 31, (dollars in thousands) 2017 2016 2015 Current $ 13,812 $ 16,492 $ 12,006 Deferred 20,418 1,676 (2,834 ) Total $ 34,230 $ 18,168 $ 9,172 C. Applicable income taxes differed from the amount derived by applying the statutory federal tax rate to income as follows: (dollars in thousands) 2017 Tax Rate 2016 Tax Rate 2015 Tax Rate Computed tax expense at statutory federal rate $ 20,036 35.0 % $ 18,972 35.0 % $ 9,074 35.0 % Tax-exempt income (600 ) (1.0 ) (758 ) (1.4 ) (622 ) (2.4 ) State tax (net of federal tax benefit) 303 0.5 425 0.8 299 1.2 Non-deductible merger expense 455 0.8 — — 105 0.4 Excess tax benefit – stock based compensation (1,049 ) (1.8 ) (565 ) (1.0 ) — — Adjustment to net deferred tax assets for enacted changes in tax laws and rates 15,193 26.5 — — — — Other, net (108 ) (0.2 ) 94 0.1 316 1.2 Total income tax expense $ 34,230 59.8 % $ 18,168 33.5 % $ 9,172 35.4 % D. Tax Law Changes – Impact to Tax Expense With the enactment of the Tax Cuts and Jobs Act (“ Tax Reform” or the “Tax Act”) on December 22, 2017, 35% 21% January 1, 2018. 2017 $15.2 January 1, 2018. Under ASC 740, nges on deferred taxes should be recognized as a component of income tax expense related to continuing operations in the period in which the law is enacted. This requirement applies not $15.2 Components of Provi sional Tax Expense Related to Tax Law Changes (dollars in thousands) Deferred taxes related to items recognized in continuing operations $ 14,410 Deferred taxes on net actuarial loss on defined benefit post-retirement benefit plans 275 Deferred taxes on net unrealized losses on available for sale investment securities 507 $ 15,192 Because ASC 740 income component of shareholders' equity, the net adjustment to deferred taxes detailed above included a net expense totaling $782 E. Other Income Tax Information In accordance with the provisions of ASC 740, Accounting for Uncertainty in Income Taxes”, management recognizes the financial statement benefit of a tax position only after determining that the Corporation would more likely than not not 50 There were no twelve December 31, 2017, 2016 2015. The Corpor ation is subject to income taxes in the U.S. federal jurisdiction, and in multiple state jurisdictions. The Corporation is no 2014. The Corporation ’s policy is to record interest and penalties on uncertain tax positions as income tax expense. No 2017. As of December 31, 2017, NOL”) carry-forwards for federal income tax purposes of $52.9 $40 2010 2030. $52.9 $2.7 $6.0 five December 15, 2017 382, 2030. $1.1 $548 not 383. not As a result of the July 1, 2010 $2.5 June 30, 2010. December 31, 2017, as not one 1 2 3 |
Note 20 - Stock-based Compensat
Note 20 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 20 - Stock–Based Compensation A. General Information The Corporation permits the issuance of stock options, dividend equivalents, performance stock awards, stock appreciation rights and restricted stock units or awards to employees and directors of the Corporation under several plans. The performance awards and restricted awards may Prior to April 25, 2007, horized for grant as stock-based compensation were limited to grants of stock options. On April 25, 2007, “2007 “2007 428,996 April 28, 2010, “2010 445,002 April 30, 2015, “2010 500,000 945,002. In addition to t he 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 5635 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 a lso 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 under the 2010 Shares Authorized for Grant 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 Grants of RSUs (40,137 ) Grants of PSUs (41,323 ) Expiration of unexercised options 250 Non-vesting PSUs* — Forfeitures of PSUs 3,899 Forfeitures of RSUs 4,305 Balance, December 31, 2017 479,953 * Non-vesting PSAs and PSUs represent awards that did not , were cancelled and are available for future grant. B. Fair Value of Options Granted In connection with the CBH Merger, 181,256 , with a value of $2.3 No or assumed during the twelve-month periods ended December 31, 2017, 2016 2015. C. Other Stock Option Information – The following table provides information about options outstanding: For the Twelve Months Ended December 31, 201 7 201 6 201 5 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 185,023 $ 21.04 $ 4.88 290,853 $ 20.88 $ 4.85 447,966 $ 20.94 $ 4.75 Assumed in the CBH Merger — $ — $ — — $ — $ — 181,256 $ 17.73 $ — Expired (250 ) $ 22.00 $ 4.90 — $ — $ — (3,180 ) $ 21.33 $ 4.84 Exercised (69,527 ) $ 21.55 $ 4.91 (105,830 ) $ 20.61 $ 7.32 (335,189 ) $ 19.25 $ 4.62 Options outstanding, end of period 115,246 $ 20.73 $ 4.86 185,023 $ 21.04 $ 4.88 290,853 $ 20.88 $ 4.85 The following table provides information related to options as of December 31, 2017: Range of Exercise Prices Options Outstanding and Exercisable Remaining Contractual Life (in years) Weighted Average Exercise Price* $10.36 to $17.15 1,383 1.21 $ 12.58 $17.16 to $18.30 65,050 1.64 18.27 $18.31 to $21.30 563 6.05 18.33 $21.31 to $24.27 48,250 0.63 24.27 Total Outstanding and Exercisable 115,246 *Price of exercisable options For the years ended December 31, 2017, 2016, 2015 no 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) 201 7 201 6 201 5 Proceeds from strike price of value of options exercised $ 1,498 $ 2,181 $ 6,452 Related tax benefit recognized 506 256 515 Proceeds of options exercised $ 2,004 $ 2,437 $ 6,967 Intrinsic value of options exercised $ 1,445 $ 1,125 $ 3,615 The following table provides information about options outstanding and exercisable options: As of December 31, 201 7 201 6 201 5 Options Outstanding Exercisable Options Options Outstanding Exercisable Options Options Outstanding Exercisable Options Number 115,246 115,246 185,023 185,023 290,853 290,853 Weighted average exercise price $ 20.73 $ 20.73 $ 21.03 $ 21.03 $ 20.88 $ 20.88 Aggregate intrinsic value $ 2,704,824 $ 2,704,824 $ 3,907,758 $ 3,907,758 $ 2,280,288 $ 2,280,288 Weighted average contractual term 1.2 yrs 1.2 yrs 2.0 yrs 2.0 yrs 2.9 yrs 2.9 yrs As of December 31, 2017, D. Restricted Stock and Performance Stock Awards and Units The Corporation has granted RSAs, RSUs, PSAs and PSUs under the 2007 2010 Rule 5635 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, 2017, $752 December 31, 2017, $2.0 2.3 The following table details the RSAs and RSUs for the twelve-month periods ended December 31, 2017, 2016 2015: Twelve Months Ended December 31, 201 7 Twelve Months Ended December 31, 201 6 Twelve Months Ended December 31, 201 5 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 58,862 $ 29.57 42,802 $ 28.58 46,281 $ 23.17 Granted 40,137 $ 41.23 33,142 $ 29.67 24,514 $ 29.83 Vested (18,987 ) $ 29.40 (15,832 ) $ 27.14 (27,993 ) $ 20.73 Forfeited (4,305 ) $ 29.54 (1,250 ) $ 29.12 — $ — Ending balance 75,707 $ 35.80 58,862 $ 29.57 42,802 $ 28.58 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. The grant date fair value of each grant was determined independently using the Monte Carlo Simulation. Assumptions used in the Monte Carlo Simulation for the grant of 21,330 August 2017, 20.91% 1.43%. The Corporation recognized $1.3 twelve December 31, 2017. December 31, 2017, $2.5 1.8 The following table details the PSAs and PSUs for the twelve-month periods ending December 31, 2017, 2016 2015: Twelve Months Ended December 31, 201 7 Twelve Months Ended December 31, 201 6 Twelve Months Ended December 31, 201 5 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 192,844 $ 18.77 216,820 $ 15.07 217,318 $ 13.41 Granted 41,323 $ 37.86 45,346 $ 28.34 92,474 $ 16.42 Vested (61,815 ) $ 15.05 (56,890 ) $ 13.38 (44,242 ) $ 11.80 Non-vesting* — $ — (10,088 ) $ 13.38 (25,929 ) $ 11.80 Forfeited (3,899 ) $ 21.45 (2,344 ) $ 15.37 (22,801 ) $ 14.75 Ending balance 168,453 $ 24.76 192,844 $ 18.77 216,820 $ 15.07 * Non-vesting PSAs represent PSAs that did not |
Note 21 - Earnings Per Share
Note 21 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 2 1 - E arnings p er Share 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) 201 7 201 6 2015 Numerator - Net income available to common shareholders $ 23,016 $ 36,036 $ 16,754 Denominator for basic earnings per share – Weighted average shares outstanding * 17,150,125 16,859,623 17,488,325 Effect of dilutive potential common shares 248,798 168,499 267,996 Denominator for diluted earnings per share – Adjusted weighted average shares outstanding 17,398,923 17,028,122 17,756,321 Basic earnings per share $ 1.34 $ 2.14 $ 0.96 Diluted earnings per share $ 1.32 $ 2.12 $ 0.94 Antidilutive shares excluded from computation of average dilutive earnings per share 27,159 — — *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 Q – “Summary of Significant Accounting Policies: Earnings per Common Share” for a discussion on the calculation of earnings per share. |
Note 22 - Related Party Transac
Note 22 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 2 2 – Re lated Party Transactions In the ordinary course of business, the Bank granted loans to principal officers, directors and their affiliates. The outstanding balances of loans, including undrawn commitments to lend, to such related parties at December 31, 2017 2016 $8.1 $11.7 Related party deposits amounted to $4.8 $6.0 December 31, 2017 2016, |
Note 23 - Financial Instruments
Note 23 - Financial Instruments With Off-Balance Sheet Risk, Contingencies and Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Financial Instruments with off Balance Sheet Risk Contingencies and Concentration of Credit Risk [Text Block] | Note 2 3 - Financial Instruments with Off-Balance Sheet Risk, Contingencies and Concentration of Credit Risk 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 may not December 31, 2017 $748.3 may Standby letters of credit are conditional commitments issued by the Bank to a customer for a third may December 31, 2017 $17.0 no December 31, 2017. Contingencies Legal Matters In the ordinary course of its operations, the Corporation and its subsidiaries are parties to various claims, litigation, investigations, and legal and administrative cases and proceedings. Such threatened claims, litigation, investigations, legal and administrative cases and proceedings typically entail matters that are considered incidental to the normal conduct of business. Claims for significant monetary damages may On a regular basis, liabilities and contingencies in connection with outstanding legal proceedings are assessed utilizing the lates t information available. For those matters where it is probable that the Corporation will incur a loss and the amount of the loss can be reasonably estimated, a liability may may not not not not may Indemnifications In general, the Corporation does not first may loans by the Corporation, and are considered customary provisions in the secondary market for conforming mortgage loan sales. As of December 31, 2017, no As of December 31, 2017, no 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. Management 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 |
Note 24 - Dividend Restrictions
Note 24 - Dividend Restrictions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Restrictions on Dividends, Loans and Advances [Text Block] | Note 2 4 - Dividend Restrictions The Bank is subject to the Pennsylvania Banking Code of 1965 sole shareholder, the Corporation. The Code restricts the payment of dividends by the Bank to the amount of its net income during the current calendar year and the retained net income of the prior two two December 31, 2016 2017 $38.5 not twelve December 31, 2017. January 1, 2018 not 2018 $38.5 may not 25 |
Note 25 - Regulatory Capital Re
Note 25 - Regulatory Capital Requirements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | Note 2 5 - 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 consolidated 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 2015, 10 B. S- 3 Offerings Thereunder In March 2015, 3, No. 333 202805 . 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 ’s maximum investment of $120 For the twelve December 31, 201 7, not No twelve December 31, 2017. No twelve December 31, 2017. C. Shares Issued in Mergers and Acquisitions In connection with the RBPI Merger, the Corporation issued 3,098,754 $136.7 4 April 2017 ( No. 333 216995 D. Share Repurchases For the twelve December 31, 2017 2016, 0 862,500 ion’s practice to retire shares to its treasury account upon the vesting of stock awards to certain officers, in order to cover the statutory income tax withholdings related to such vesting. 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. As of December 31, 2017 2016, December 31, 2017 2016. The Corporation ’s and the Bank’s capital amounts and ratios as of December 31, 2017 2016 Actual Minimum to be Well Capitalized (dollars in thousands) Amount Ratio Amount Ratio December 31, 201 7 Total capital to risk weighted assets: Corporation $ 461,414 13.85 % $ 333,068 10.00 % Bank $ 387,067 11.65 % $ 332,388 10.00 % Tier I capital to risk weighted assets: Corporation $ 344,964 10.36 % $ 266,454 8.00 % Bank $ 369,033 11.10 % $ 265,910 8.00 % Common equity Tier I risk weighted assets: Corporation $ 326,454 9.80 % $ 216,494 6.50 % Bank $ 369,033 11.10 % $ 216,052 6.50 % Tier I leverage ratio (Tier I capital to total quarterly average assets): Corporation $ 344,964 10.04 % $ 171,804 5.00 % Bank $ 369,033 10.75 % $ 171,609 5.00 % December 31, 201 6 Total 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 % Common equity Tier I to risk weighted assets : Corporation $ 270,845 10.51 % $ 167,474 6.50 % Bank $ 270,083 10.50 % $ 167,166 6.50 % Tier I leverage ratio (Tier I capital to total quarterly average assets): Corporation $ 270,845 8.73 % $ 155,035 5.00 % Bank $ 270,083 8.73 % $ 154,761 5.00 % |
Note 26 - Selected Quarterly Fi
Note 26 - Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 2 6 - Selected Quarterly Financial Data (Unaudited) 201 7 (dollars in thousands, except per share data) 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Interest income $ 30,326 $ 31,237 $ 33,198 $ 34,798 Interest expense 2,923 3,272 3,760 4,477 Net interest income 27,403 27,965 29,438 30,321 Provision for / (release of) loan and lease losses 291 (83 ) 1,333 1,077 Non-interest income 13,227 14,785 15,584 15,536 Non-interest expense 26,660 28,495 28,184 31,056 Income before income taxes 13,679 14,338 15,505 13,724 Income taxes 4,635 4,905 4,766 19,924 Net income / (loss) $ 9,044 $ 9,433 $ 10,739 $ (6,200 ) Basic earnings (loss) per common share * $ 0.53 $ 0.56 $ 0.63 $ (0.35 ) Diluted earnings (loss) per common share * $ 0.53 $ 0.55 $ 0.62 $ (0.35 ) Dividend declared $ 0.21 $ 0.21 $ 0.22 $ 0.22 201 6 (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 Non-interest income 13,153 13,781 13,786 13,248 Non-interest expense 24,996 26,220 25,371 25,087 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 * Earnings per share is computed independently for each period shown. As a result, the sum of the quarters may not . |
Note 27 - Parent Company - Only
Note 27 - Parent Company - Only Financial Statements | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | N ote 2 7 - Parent Company-Only Financial Statements 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) 201 7 201 6 Assets: Cash $ 68,535 $ 23,663 Investment securities 458 400 Investments in subsidiaries, as equity in net assets 580,230 384,751 Premises and equipment, net 2,189 2,288 Goodwill 245 245 Other assets 1,135 1,435 Total assets $ 652,792 $ 412,782 Liabilities and shareholders ’ equity: Subordinated notes 98,416 29,532 Junior subordinated debentures 21,416 — Other liabilities 4,158 2,123 Total liabilities $ 123,990 $ 31,655 Common stock, par value $1, authorized 100,000,000 shares issued 24,360,049 shares and 21,110,968 shares as of December 31, 2017 and 2016, respectively, and outstanding 20,161,395 shares and 16,939,715 shares as of December 31, 2017 and 2016, respectively $ 24,360 $ 21,111 Paid-in capital in excess of par value 371,486 232,806 Less common stock in treasury, at cost – 4,198,654 shares and 4,171,253 shares as of December 31, 2017 and 2016, respectively (68,179 ) (66,950 ) Accumulated other comprehensive loss, net of deferred income taxes benefit (4,414 ) (2,409 ) Retained earnings 205,549 196,569 Total shareholders ’ equity $ 528,802 $ 381,127 Total liabilities and shareholders ’ equity $ 652,792 $ 412,782 B. Condensed Statements of Income Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Dividends from subsidiaries $ 950 $ 17,718 $ 34,234 Net interest and other income 2,761 2,714 2,128 Total operating income 3,711 20,432 36,362 Expenses 2,782 2,443 2,140 Income before equity in undistributed income of subsidiaries 929 17,989 34,222 Equity in undistributed income of subsidiaries 21,053 17,600 (17,427 ) Income before income taxes 21,982 35,589 16,795 Income tax (benefit) expense (1,034 ) (447 ) 41 Net income $ 23,016 $ 36,036 $ 16,754 C. Condensed Statements of Cash Flows Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Operating activities: Net Income $ 23,016 $ 36,036 $ 16,754 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiaries (21,053 ) (17,600 ) 17,427 Depreciation and amortization 154 151 121 Stock-based compensation cost 2,068 1,713 1,441 Other, net 1,241 1,000 508 Net cash provided by operating activities 5,426 21,300 36,251 Investing Activities: Investment in subsidiaries (15,300 ) (15,000 ) — Net change in trading securities (58 ) — 16 Acquisitions, net of cash acquired 531 — 128 Net cash (used in) provid ed by investing activities (14,827 ) (15,000 ) 144 Financing activities: Dividends paid (14,799 ) (13,961 ) (13,837 ) Proceeds from issuance of subordinated notes 68,829 — 29,456 Net purchase of treasury stock for deferred compensation plans (115 ) (133 ) (128 ) Net purchase of treasury stock through publicly announced plans — (7,971 ) (26,418 ) Proceeds from issuance of common stock — — 20 Excess tax benefit from stock-based compensation — — 783 Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation (1,140 ) (745 ) — Proceeds from exercise of stock options 1,498 2,181 6,452 Net cash provided by ( used in) financing activities 54,273 (20,629 ) (3,672 ) Change in cash and cash equivalents 44,872 (14,329 ) 32,723 Cash and cash eq uivalents at beginning of period 23,663 37,992 5,269 Cash and cash equivalents at end of period $ 68,535 $ 23,663 $ 37,992 |
Note 28 - Segment Information
Note 28 - Segment Information | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 2 8 - Segment Information FASB Codification 280 – “Segment Reporting” identifies operating segments as components of an enterprise which are evaluated regularly by the Corporation’s chief operating decision maker, our Chief Executive Officer, in deciding how to allocate resources and assess performance. The Corporation has applied the aggregation criterion set forth in this codification to the results of its operations. 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. Also included in the Banking segment are two 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 an d 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. BMT Investment Advisers, formed in May 2017, In addition, with the October 1, 2014 April 1, 2015 May 2017 The accounting policies of the Corporation are applied by segment in the following tables. The segments a re presented on a pre-tax basis. The following table det ails the Corporation’s segments: As of or f or the Twelve Months Ended December 31, 201 7 201 6 201 5 (dollars in thousands) Banking Wealth Management Consolidated Banking Wealth Management Consolidated Banking Wealth Management Consolidated Net interest income $ 115,124 $ 3 $ 115,127 $ 106,233 $ 3 $ 106,236 $ 100,124 $ 3 $ 100,127 Less: loan loss provision 2,618 — 2,618 4,326 — 4,326 4,396 — 4,396 Net interest income after loan loss provision 112,506 3 112,509 101,907 3 101,910 95,728 3 95,731 Other income: Fees for wealth management services — 38,735 38,735 — 36,690 36,690 — 36,894 36,894 Service charges on deposit accounts 2,608 — 2,608 2,791 — 2,791 2,927 — 2,927 Loan servicing and other fees 2,106 — 2,106 1,939 — 1,939 2,087 — 2,087 Net gain on sale of loans 2,441 — 2,441 3,048 — 3,048 2,847 — 2,847 Net gain (loss) on sale of available for sale securities 101 — 101 (77 ) — (77 ) 931 — 931 ) Net (loss) gain on sale of other real estate owned (104 ) — (104 ) (76 ) — (76 ) 123 — 123 ) Insurance commissions. — 4,589 4,589 — 3,722 3,722 — 3,745 3,745 Capital markets revenue 2,396 — 2,396 — — — — — — Other operating income 6,063 197 6,260 5,773 158 5,931 6,082 149 6,231 Total other income 15,611 43,521 59,132 13,398 40,570 53,968 14,997 40,788 55,785 Other expenses: Salaries & wages 36,559 16,692 53,251 32,321 15,090 47,411 30,391 14,184 44,575 Employee benefits 6,632 3,820 10,452 6,257 3,291 9,548 7,298 2,907 10,205 Loss on pension plan settlement — — — — — — 17,377 — 17,377 Occupancy and bank premises 8,208 1,698 9,906 8,005 1,606 9,611 8,662 1,643 10,305 Amortization of intangible assets 783 1,951 2,734 872 2,626 3,498 1,172 2,655 3,827 Professional fees 2,998 270 3,268 3,516 143 3,659 3,227 126 3,353 Other operating expenses 30,323 4,461 34,784 24,112 3,835 27,947 31,975 3,973 35,948 Total other expenses 85,503 28,892 114,395 75,083 26,591 101,674 100,102 25,488 125,590 Segment profit 42,614 14,632 57,246 40,222 13,982 54,204 10,623 15,303 25,926 Intersegment (revenues) expenses* (448 ) 448 — (396 ) 396 — (422 ) 422 — Pre-tax segment profit after eliminations $ 42,166 $ 15,080 $ 57,246 $ 39,826 $ 14,378 $ 54,204 $ 10,201 $ 15,725 $ 25,926 % of segment pre-tax profit after eliminations 73.7 % 26.3 % 100.0 % 73.5 % 26.5 % 100.0 % 39.3 % 60.7 % 100.0 % Segment assets (dollars in millions) $ 4,398.5 $ 51.2 $ 4,449.7 $ 3,377.1 $ 44.4 $ 3,421.5 $ 2,983.2 $ 47.8 $ 3,031.0 * Intersegment revenues consist of rental payments, deposit interest and management fees. Other segment information: Wealth Management Segment Information (dollars in millions) December 31, 201 7 December 31, 2017 Assets under management, administration, supervision and brokerage $ 12,968.7 $ 11,328.5 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
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, 37 eight two six On December 15, 2017, rger of Royal Bancshares of Pennsylvania, Inc. (“RBPI”) with and into the Corporation (the “RPBI Merger”), and the merger of Royal Bank America with and into the Bank, were completed. Consideration paid totaled $138.6 3,098,754 140,224 $1.9 $112 $7 $570.4 $121.6 $593.2 twelve On May 24, 2017, Hirshorn”), an insurance agency headquartered in the Chestnut Hill section of Philadelphia, was completed. Immediately after the acquisition, Hirshorn was merged into the Bank’s existing insurance subsidiary, Powers Craft Parker and Beard, Inc. The consideration paid by the Bank was $7.5 $5.8 three not $575 May 24, 2018, May 24, 2019, May 24, 2020, On April 1, 2015, RJM”), an insurance brokerage headquartered in Rosemont, Pennsylvania, was completed. Consideration paid totaled $1.0 $500 $85 $100 first two not $100 second 2016 2017, three not $100 March 31, 2018, March 31, 2019, March 31, 2020, On January 1, 2015, of Continental Bank Holdings, Inc. (“CBH”) with and into the Corporation (the “CBH Merger”), and the merger of Continental Bank with and into the Bank, were completed. Consideration paid totaled $125.1 3,878,383 $2.3 $1.3 $424.7 $181.8 $481.7 ten 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 2018, Principles of Consolidation The Consolidated Financial Statements include the accounts of the Corporation and its wholly owned subsidiaries; the Corporation ’s primary subsidiary is the Bank. In connection with the RBPI Merger, the Corporation acquired two two not 810, 810” |
Cash and Cash Equivalents, Policy [Policy Text Block] | C. Cash and Cash Equivalents Cash and cash equivalents include cash , interest-bearing and noninterest-bearing amounts due from banks, and federal funds sold. Cash balances required to meet regulatory reserve requirements of the Federal Reserve Board amounted to $5.8 $10.4 December 31, 2017 December 31, 2016, |
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 credit quality of the issuer, interest rates, changes in prepayment risk, increases in capital requirements, or other similar factors, are classified as available for sale and are carried at fair value. Net unrealized gains and losses for such securities, net of tax, are required to be recognized as a separate component of shareholders’ equity and excluded from determination of net income. Gains or losses on disposition are based on the net proceeds and cost of the securities sold, adjusted for the amortization of premiums and accretion of discounts, using the specific identification method. T he Corporation follows ASC 370 10 65 1 not no not not not 2017, 2016 2015. Investments for which management 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 Investment securities held in trading accounts consist of deferred compensation trust account s 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 market are carried at the lower of cost or fair value in the aggregate. Net unrealized temporary losses, if any, are recognized through a valuation allowance by charges to income. |
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 management 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 nonaccrual status or charged-off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued, but not not not 120 six Certain loans which have reached maturity and have been approved for extension or renewal, but for which all required documents have not not 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 management 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. Management ’s determination of the adequacy of the Allowance is based on guidance provided in ASC 450 310 December 31, 2017 five December 31, 2017, two one As part of the process of calculating the Allowance for the different segments of the loan a nd 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 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 ’s estimates, an additional Provision 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 management will be unable to collect the contractually scheduled payments of principal or interest. When assessing impairment, management considers various fact ors, 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 Management 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-performan ce 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 o f these acquired loans may may not 310 30. no |
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 may may not not |
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, 2017, $20.1 December 31, 2017, $6.9 no 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, 201 7, two 17 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 ustomers to effectively convert a variable-rate commercial loan agreement to a fixed-rate commercial loan agreement. Under these agreements, the Corporation originates variable-rate loans with customers in addition to interest rate swap agreements, which serve to effectively swap the customers’ variable-rate loans into fixed-rate loans. The Corporation then enters into corresponding swap agreements with swap dealer counterparties to economically hedge its exposure on the variable and fixed components of the customer agreements. The interest rate swaps with both the customers and third not 815 not may may 820. In addition to interest rate swaps with customers, the Corporation may which includes a derivative instrument, in exchange for fee income commensurate with the risk assumed. This type of derivative is referred to as an “RPA sold”. In addition, in an effort to reduce the credit risk associated with an interest rate swap agreement with a borrower for whom the Corporation has provided a loan structured with a derivative, the Corporation may 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 hedg ed 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, management uses valuations obtained from a third third The Corporation may changes on future net interest income. If present, the Corporation accounts for its interest-rate swap contracts in cash flow hedging relationships by establishing and documenting the effectiveness of the instrument in offsetting the change in cash flows of assets or liabilities that are being hedged. To determine effectiveness, the management performs an analysis to identify if changes in fair value or cash flow of the derivative correlate to the equivalent changes in the forecasted interest receipts or payments related to a specified hedged item. Recorded amounts related to interest-rate swaps are included in other assets or liabilities. The change in fair value of the ineffective part of the instrument would need to be charged to the Statement of Income, potentially causing material fluctuations in reported earnings in the period of the change relative to comparable periods. In a fair value hedge, the fair value of the interest rate swap agreements and changes in the fair value of the hedged items are recorded in the Corporation’s consolidated balance sheets with the corresponding gain or loss being recognized in current earnings. The difference between changes in the fair values of interest rate swap agreements and the hedged items represents hedge ineffectiveness and is recorded in net interest income in the statement of income. Management performs an assessment, both at the inception of the hedge and quarterly thereafter, to determine whether these derivatives are highly effective in offsetting changes in the value of the hedged items. In 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 our 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 market 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 not zed in the Consolidated 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. A dditional information relating to wealth management fee revenue recognition follows: The Corporation earns wealth m anagement 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 not The most significan t 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 Th e 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 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 ies; however the Corporation often retains the servicing rights related to these loans. A fee, usually based on a percentage of the outstanding principal balance of the loan, is received in return for these services. Gains on the sale of these loans are based on the specific identification method. An intangible asset, referred to as m ortgage 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 not |
Goodwill and Intangible Assets, Policy [Policy Text Block] | U . Goodwill and Intangible Assets The Corporation accounts for goodwill and intangible assets in accordance with ASC 350, Intangibles – Goodwill and Other.” The amount of goodwill initially recorded is based on the fair value of the acquired entity at the time of acquisition. Management performs goodwill and intangible assets impairment testing annually, as of October 31, not October 31, 2016, December 31. 2016, December 31 October 31. not three December 31, 2017, not not may Management ’s impairment testing methodology is consistent with the methodology prescribed in ASC 350. three |
Reclassification, Policy [Policy Text Block] | V . Reclassifications Certain prior year amounts have been reclassified to conform to the current year ’s presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | W . Recent Accounting Pronouncements The following Financial Accounting Standards Board ("FASB") Accounting Standards Updates ("ASUs") are divided into pronouncements which have been adopted by the Corporation since January 1, 2017, not December 31, 2017. Adopted Pronouncements: FASB ASU 2017 08 310 20 310 20 ” Issued in March 2017, 2017 08 not December 15, 2018. The Corporation early adopted this ASU as of October 1, 2017. not FASB ASU 201 8 - 0 2 - Income Statement – Reporting Comprehensive Income (Topic 220 ): “ Reclassification of Certain Tax Effects from Other Comprehensive Income ” Issued in February 2018, 2018 02 H.R.1, 2018 December 15, 2018. not January 1, 2017 $507 $275 $782 Pronouncements Not : FASB ASU 2014 0 9 (Topic 606 “ Revenue from Contracts with Customers ” Issued in May 2014, 2014 09 require an entity to recognize revenue when it transfers promised goods or services to customers using a five August 2015, No. 2015 14, 606 2014 09 one March 2016, 2016 08, 2016 20, 606, 2016 12, 606. December 15, 2017, December 15, 2016. Because the ASU does not not closely associated with leases and financial instruments (such as interest income, interest expense, and net (loss) gain on sale of investment securities). The review is on-going, however our preliminary evaluation of other revenue streams that are within the scope of the new guidance suggests that adoption of this guidance is not first 2018 no FASB ASU 2017 04 350 Intangibles – Goodwill and Others” Issued in January 2017, 2017 04 2 2 impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. ASU 2017 04 December 15, 2019 not FASB ASU 2017 01 805 Business Combinations” Issued in January 2017, 2017 01 ion of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. ASU 2017 01 December 15, 2017 first 2018. not FASB ASU 2016 15 320 Classification of Certain Cash Receipts and Cash Payments” Issued in August 2016, 2016 15 eight zero on in business combinations, proceeds from settlement of insurance claims, proceeds from settlement of BOLI, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. ASU 2016 15 December 15, 2017, first 2018. not FASB ASU 2016 13 326 Measurement of Credit Losses on Financial Instruments” Issued in June 2016, 2 016 13 2016 13 December 15, 2019, It is expected that the new model will include different assumptions used in calculating credit losses, such as estimating losses over the estimated life of a financial asset, and will consider expected future changes in macroeconomic conditions. The adoption of this ASU may third not FASB ASU 2016 02 842 Leases” Issued in February 2016, 201 6 02 2016 02 first December 15, 2018, FASB ASU 2016 01 825 10 Financial Instruments – Overall, Recognition and Measurement of Financial Assets and Financial Liabilities” Issued in January 2016, 2016 01 lue is not may 2016 01 December 15, 2017, may first 2018 $296 December 31, 2017 Managemen t is evaluating the amendments related to equity securities without readily determinable fair values (except for FHLB, FRB, and Atlantic Central Bankers Bank stock, which are outside of the scope of this ASU), but does not may FASB ASU 2017 07 Compensation - Retirement Benefits (Topic 715 Issued in March 2017, 2017 07 one not December 15, 2017, not The Corporation will adopt this ASU in the first 2018. Upon adoption, the components of net periodic benefit cost other than the service cost component will be reclassified from “ Employee benefits” Other operating expenses Employee benefits” Other operating expenses Non-interest expenses Non-interest expenses not Net income 17 10 not not |
Note 2 - Business Combinations
Note 2 - Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | (dollars in thousands) Consideration paid: Common shares issued (3,098,754) $ 136,655 Cash in lieu of fractional shares 7 Cash-out of certain options 112 Fair value of warrants assumed 1,853 Value of consideration 138,627 Assets acquired: Cash and due from banks 17,092 Investment securities available for sale 121,587 Loans 570,373 Premises and equipment 8,264 Deferred income taxes 33,135 Bank-owned life insurance 16,550 Core deposit intangible 4,670 Favorable lease asset 566 Other assets 14,487 Total assets 786,724 Liabilities assumed: Deposits 593,172 FHLB and other long-term borrowings 59,568 Short-term borrowings 15,000 Junior subordinated debentures 21,416 Unfavorable lease liability 322 Other liabilities 31,381 Total liabilities 720,859 Net assets acquired 65,865 Goodwill resulting from acquisition of RBPI $ 72,762 (dollars in thousands) Consideration paid: Cash paid at closing $ 5,770 Contingent payment liability (present value) 1,690 Value of consideration 7,460 Assets acquired: Cash operating accounts 978 Intangible assets – trade name 195 Intangible assets – customer relationships 2,672 Intangible assets – non-competition agreements 41 Premises and equipment 1,795 Accounts receivable 192 Other assets 27 Total assets 5,900 Liabilities assumed: Accounts payable 800 Other liabilities 2 Total liabilities 802 Net assets acquired 5,098 Goodwill resulting from acquisition of Hirshorn $ 2,362 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | Contractually required principal and interest payments $ 36,138 Contractual cash flows not expected to be collected (nonaccretable difference) (13,042 ) Cash flows expected to be collected 23,096 Interest component of expected cash flows (accretable yield) (2,319 ) Fair value of loans acquired with deterioration of credit quality $ 20,777 |
Business Acquisition, Pro Forma Information [Table Text Block] | Twelve Months Ended December 31, (dollars in thousands) 2017 2016 2015 Total interest income $ 169,677 $ 155,798 $ 143,926 Total interest expense 20,113 17,134 13,963 Net interest income 149,564 138,664 129,963 Provision for loan and lease losses 3,454 5,568 3,648 Net interest income after provision for loan and lease losses 146,110 133,069 126,315 Total non-interest income 61,423 58,275 58,898 Total non-interest expenses* 140,853 124,358 149,791 Income before income taxes 66,680 67,013 35,422 Income tax expense 39,871 22,461 12,531 Net income $ 26,809 $ 44,552 $ 22,891 Per share data**: Weighted-average basic shares outstanding 20,248,879 19,958,377 20,587,079 Dilutive shares 257,591 168,499 267,996 Adjusted weighted-average diluted shares 20,506,470 20,126,876 20,855,075 Basic earnings per common share $ 1.32 $ 2.23 $ 1.11 Diluted earnings per common share $ 1.31 $ 2.21 $ 1.10 |
Business Combination Integration Related Costs [Table Text Block] | Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Advertising $ 180 $ — $ 162 Employee Benefits 21 — 258 Furniture, fixtures , and equipment 109 — 159 Information technology 837 — 1,168 Professional fees 3,160 — 2,471 Salaries and wages 1,285 — 1,868 Other 512 — 584 Total due diligence , and merger-related and merger integration expenses $ 6,104 $ — $ 6,670 |
Note 3 - Goodwill & Intangibl40
Note 3 - Goodwill & Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | (dollars in thousands) Balance December 31, 2016 Additions Amortization Balance December 31, 2017 Amortization Goodwill – Wealth $ 20,412 $ — $ — $ 20,412 Indefinite Goodwill – Banking 80,783 72,762 — 153,545 Indefinite Goodwill – Insurance 3,570 2,362 — 5,932 Indefinite Total Goodwill $ 104,765 $ 75,124 $ — $ 179,889 Core deposit intangible $ 3,447 $ 4,670 $ (737 ) $ 7,380 10 Years Customer relationships 13,056 2,672 (1,555 ) 14,173 10 to 20 Years Non-compete agreements 1,634 41 (356 ) 1,319 5 to 10 Years Trade name 2,165 195 (38 ) 2,322 3 years to Indefinite Domain name — 151 — 151 Indefinite Favorable lease assets 103 566 (48 ) 621 1 to 16 Years Total Intangible Assets $ 20,405 $ 8,295 $ (2,734 ) $ 25,966 Grand Total $ 125,170 $ 83,419 $ (2,734 ) $ 205,855 (dollars in thousands) Balance December 31, 2015 Additions Amortization Balance December 31, 2016 Amortization Goodwill – Wealth $ 20,412 $ — $ — $ 20,412 Indefinite Goodwill – Banking 80,783 — — 80,783 Indefinite Goodwill – Insurance 3,570 — — 3,570 Indefinite Total Goodwill $ 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 assets 150 — (47 ) 103 17 to 75 months Total Intangible Assets $ 23,903 $ — $ (3,498 ) $ 20,405 Grand total $ 128,668 $ — $ (3,498 ) $ 125,170 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (dollars in thousands) Fiscal Year Amount Fiscal year ending 2018 $ 3,520 2019 $ 3,218 2020 $ 2,980 2021 $ 2,764 Thereafter $ 11,167 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 $ 200,077 $ 11 $ — $ 200,088 Obligations of the U.S. government and agencies 153,028 75 (2,059 ) 151,044 Obligations of state and political subdivisions 21,352 11 (53 ) 21,310 Mortgage-backed securities 275,958 887 (1,855 ) 274,990 Collateralized mortgage obligations 37,596 14 (948 ) 36,662 Other investment securities 4,813 318 (23 ) 5,108 Total $ 692,824 $ 1,316 $ (4,938 ) $ 689,202 (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 investment securities 16,575 105 (154 ) 16,526 Total $ 568,890 $ 1,669 $ (3,563 ) $ 566,996 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Obligations of the U.S. government and agencies $ 114,120 $ (1,294 ) $ 26,726 $ (765 ) $ 140,846 $ (2,059 ) Obligations of state and political subdivisions 11,144 (29 ) 2,709 (24 ) 13,853 (53 ) Mortgage-backed securities 177,919 (1,293 ) 31,787 (562 ) 209,706 (1,855 ) Collateralized mortgage obligations 5,166 (47 ) 26,686 (901 ) 31,852 (948 ) Other investment securities 1,805 (23 ) — — 1,805 (23 ) Total $ 310,154 $ (2,686 ) $ 87,908 $ (2,252 ) $ 398,062 $ (4,938 ) Less than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value 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 investment securities 2,203 (93 ) 11,895 (61 ) 14,098 (154 ) Total $ 226,288 $ (3,502 ) $ 11,895 $ (61 ) $ 238,183 $ (3,563 ) |
Held-to-maturity Securities [Table Text Block] | (dollars in thousands) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mortgage-backed securities $ 7,932 $ 5 $ (86 ) $ 7,851 Total $ 7,932 $ 5 $ (86 ) $ 7,851 (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 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Mortgage-backed securities $ 2,756 $ (25 ) $ 3,866 $ (61 ) $ 6,622 $ (86 ) Total $ 2,756 $ (25 ) $ 3,866 $ (61 ) $ 6,622 $ (86 ) Less than 12 Months 12 Months or Longer Total (dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value 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] | December 31, 2017 December 31, 2016 (dollars in thousands) Amortized Cost Fair Valu e Amortized Cost Fair Value Mortgage-backed securitie s 1 $ 7,932 $ 7,851 $ 2,879 $ 2,818 Total $ 7,932 $ 7,851 $ 2,879 $ 2,818 |
Available-for-sale Securities [Member] | |
Notes Tables | |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 2017 December 31, 2016 (dollars in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Investment securities 1 Due in one year or less $ 211,019 $ 211,019 $ 213,876 $ 213,885 Due after one year through five years 126,452 124,797 40,335 40,270 Due aft er five years through ten years 23,147 22,804 45,840 44,914 Due after ten years 15,439 15,421 18,079 18,055 Subtotal 376,057 374,041 318,130 317,124 Mortgage-related securities 1 313,554 311,652 235,485 234,644 Mutual funds with no stated maturity 3,213 3,509 15,275 15,228 Total $ 692,824 $ 689,202 $ 568,890 $ 566,996 |
Note 5 - Loans and Leases (Tabl
Note 5 - Loans and Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (dollars in thousands) December 31, 201 7 December 31, 2016 Loans held for sale $ 3,794 $ 9,621 Real estate loans: Commercial mortgage $ 1,523,377 $ 1,110,898 Home equity lines and loans 218,275 207,999 Residential mortgage 458,886 413,540 Construction 212,454 141,964 Total real estate loans 2,412,992 1,874,401 Commercial and industrial 719,312 579,791 Consumer 38,153 25,341 Leases 115,401 55,892 Total portfolio loans and leases 3,285,858 2,535,425 Total loans and leases $ 3,289,652 $ 2,545,046 Loans with fixed rates $ 1,573,052 $ 1,130,172 Loans with adjustable or floating rates 1,716,600 1,414,874 Total loans and leases $ 3,289,652 $ 2,545,046 Net deferred loan origination fees included in the above loan table $ (887 ) $ (735 ) (dollars in thousands) December 31, 201 7 December 31, 2016 Loans held for sale $ 3,794 $ 9,621 Real estate loans: Commercial mortgage $ 1,122,327 $ 946,879 Home equity lines and loans 183,283 178,450 Residential mortgage 360,935 342,268 Construction 128,266 141,964 Total real estate loans 1,794,811 1,609,561 Commercial and industrial 589,304 550,334 Consumer 35,146 25,200 Leases 68,035 55,892 Total originated portfolio loans and leases 2,487,296 2,240,987 Total originated loans and leases $ 2,491,090 $ 2,250,608 Loans with fixed rates $ 1,034,542 $ 992,917 Loans with adjustable or floating rates 1,456,548 1,257,691 Total originated loans and leases $ 2,491,090 $ 2,250,608 Net deferred loan origination fees included in the above loan table $ (887 ) $ (735 ) (dollars in thousands) December 31 , 201 7 December 31, 201 6 Real estate loans: Commercial mortgage $ 401,050 $ 164,019 Home equity lines and loans 34,992 29,549 Residential mortgage 97,951 71,272 Construction 84,188 — Total real estate loans 618,181 264,840 Commercial and industrial 130,008 29,457 Consumer 3,007 141 Leases 47,366 — Total acquired portfolio loans and leases $ 798,562 $ 294,438 Loans with fixed rates $ 538,510 $ 137,255 Loans with adjustable or floating rates 260,052 157,183 Total acquired portfolio loans and leases $ 798,562 $ 294,438 |
Schedule of Components of Leveraged Lease Investments [Table Text Block] | (dollars in thousands) December 31 , 201 7 December 31, 201 6 Minimum lease payments receivable $ 130,811 $ 62,379 Unearned lease income (19,861 ) (8,608 ) Initial direct costs and deferred fees 4,451 2,121 Total leases $ 115,401 $ 55,892 (dollars in thousands) December 31 , 201 7 December 31, 201 6 Minimum lease payments receivable $ 75,592 $ 62,379 Unearned lease income (10,338 ) (8,608 ) Initial direct costs and deferred fees 2,781 2,121 Total originated leases $ 68,035 $ 55,892 (dollars in thousands) December 31 , 201 7 December 31, 201 6 Minimum lease payments receivable $ 55,219 $ — Unearned lease income (9,523 ) — Initial direct costs and deferred fees 1,670 — Total acquired leases $ 47,366 $ — |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (dollars in thousands) December 31, 201 7 December 31, 2 016 Non-accrual loans and leases (1) Commercial mortgage $ 872 $ 320 Home equity lines and loans 1,481 2,289 Residential mortgage 4,417 2,658 Commercial and industrial 1,706 2,957 Consumer — 2 Leases 103 137 Total $ 8,579 $ 8,363 (dollars in thousands) December 31 , 201 7 December 31, 2016 Non-accrual originated loans and leases : Commercial mortgage $ 90 $ 265 Home equity lines and loans 1,221 2,169 Residential mortgage 1,505 1,654 Commercial and industrial 826 941 Consumer — 2 Leases 103 137 Total $ 3,745 $ 5,168 (dollars in thousands) December 31 , 201 7 December 31, 201 6 Non-accrual acquired loans and leases (1) Commercial mortgage $ 782 $ 55 Home equity lines and loans 260 120 Residential mortgage 2,912 1,004 Commercial and industrial 880 2,016 Total $ 4,834 $ 3,195 |
Schedule of Information Related to Purchased Credit Impaired Loans [Table Text Block] | (dollars in thousands) December 31 , 201 7 December 31, 201 6 Outstanding principal balance $ 46,543 $ 18,091 Carrying amount (1) $ 30,849 $ 12,432 |
Schedule of Changes in Accretable Discount Related to Purchased Credit Impaired Loans [Table Text Block] | (dollars in thousands) Accretable Discount Balance, December 31, 201 6 $ 3,233 Accretion (1,934 ) Reclassifications from nonaccretable difference — Additions/adjustments 2,784 Disposals — Balance, December 31, 2017 $ 4,083 |
Past Due Financing Receivables [Table Text Block] | Accruing Loans and Leases As of December 31, 201 7 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 1,366 $ 2,428 $ — $ 3,794 $ 1,518,711 $ 1,522,505 $ 872 $ 1,523,377 Home equity lines and loans 338 10 — 348 216,446 216,794 1,481 218,275 Residential mortgage 1,386 79 — 1,465 453,004 454,469 4,417 458,886 Construction — — — — 212,454 212,454 — 212,454 Commercial and industrial 658 286 — 944 716,662 717,606 1,706 719,312 Consumer 1,106 — — 1,106 37,047 38,153 — 38,153 Leases 125 177 — 302 114,996 115,298 103 115,401 Total $ 4,979 $ 2,980 $ — $ 7,959 $ 3,269,320 $ 3,277,279 $ 8,579 $ 3,285,858 Accruing Loans and Leases As of December 31 , 201 6 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due 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 Total $ 1,723 $ 1,303 $ — $ 3,026 $ 2,524,036 $ 2,527,062 $ 8,363 $ 2,535,425 Accruing Loans and Leases As of December 31, 201 7 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 1,255 $ 81 $ — $ 1,336 $ 1,120,901 $ 1,122,237 $ 90 $ 1,122,327 Home equity lines and loans 26 — — 26 182,036 182,062 1,221 183,283 Residential mortgage 721 — — 721 358,709 359,430 1,505 360,935 Construction — — — — 128,266 128,266 — 128,266 Commercial and industrial 439 236 — 675 587,803 588,478 826 589,304 Consumer 21 — — 21 35,125 35,146 — 35,146 Leases 125 177 — 302 67,630 67,932 103 68,035 Total $ 2,587 $ 494 $ — $ 3,081 $ 2,480,470 $ 2,483,551 $ 3,745 $ 2,487,296 Accruing Loans and Leases As of December 31 , 201 6 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due 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 Total $ 971 $ 877 $ — $ 1,848 $ 2,233,972 $ 2,235,820 $ 5,167 $ 2,240,987 Accruing Loans and Leases As of December 31 , 201 7 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due Total Past Due Current * Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans and Leases Commercial mortgage $ 111 $ 2,347 $ — $ 2,458 $ 397,810 $ 400,268 $ 782 $ 401,050 Home equity lines and loans 312 10 — 322 34,410 34,732 260 34,992 Residential mortgage 665 79 — 744 94,295 95,039 2,912 97,951 Construction — — — — 84,188 84,188 — 84,188 Commercial and industrial 219 50 — 269 128,859 129,128 880 130,008 Consumer 1,085 — — 1,085 1,922 3,007 — 3,007 Leases — — — — 47,366 47,366 — 47,366 Total $ 2,392 $ 2,486 $ — $ 4,878 $ 788,850 $ 793,728 $ 4,834 $ 798,562 Accruing Loans and Leases As of December 31 , 201 6 (dollars in thousands) 30 – 59 Days 60 – 89 Days Over 89 Days Past Due 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 Total $ 752 $ 426 $ — $ 1,178 $ 290,064 $ 291,242 $ 3,196 $ 294,438 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Unallocated Total Balance, December 31, 2016 $ 6,227 $ 1,255 $ 1,917 $ 2,233 $ 5,142 $ 153 $ 559 $ — $ 17,486 Charge-offs (55 ) (675 ) (326 ) — (692 ) (154 ) (1,224 ) — (3,126 ) Recoveries 12 5 165 4 25 8 328 — 547 Provision for loan and lease losses 1,366 501 170 (1,300 ) 563 239 1,079 — 2,618 Balance, December 31, 2017 $ 7,550 $ 1,086 $ 1,926 $ 937 $ 5,038 $ 246 $ 742 $ — $ 17,525 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and 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 |
Schedule of Allowance for Loan Losses by Portfolio Segment [Table Text Block] | As of December 3 1 , 201 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ 19 $ 230 $ — $ 5 $ 4 $ — $ — $ 258 Collectively evaluated for impairment 7,550 1,067 1,696 937 5,033 242 742 — 17,267 Purchased credit-impaired (1) — — — — — — — — — Total $ 7,550 $ 1,086 $ 1,926 $ 937 $ 5,038 $ 246 $ 742 $ — $ 17,525 As of December 3 1 , 201 6 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and 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, 2017 Commercial Home Equity Lines and Residential Commercial and (dollars in thousands) Mortgage Loans Mortgage Construction Industrial Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 2,128 $ 2,162 $ 7,726 $ — $ 1,897 $ 27 $ — $ 13,940 Collectively evaluated for impairment 1,503,825 215,604 451,160 204,088 712,865 38,126 115,401 3,241,069 Purchased credit-impaired (1) 17,424 509 — 8,366 4,550 — — 30,849 Total $ 1,523,377 $ 218,275 $ 458,886 $ 212,454 $ 719,312 $ 38,153 $ 115,401 $ 3,285,858 As of December 31, 2016 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Industrial 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 3 1 , 201 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Unallocated Total Allowance on loans and leases: Individually evaluated for impairment $ — $ 19 $ 180 $ — $ 5 $ 4 $ — $ — $ 208 Collectively evaluated for impairment 7,550 1,067 1,696 937 5,033 242 742 — 17,267 Purchased credit-impaired (1) — — — — — — — — — Total $ 7,550 $ 1,086 $ 1,876 $ 937 $ 5,038 $ 246 $ 742 $ — $ 17,475 As of December 3 1 , 201 6 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and 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 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 1,345 $ 1,902 $ 4,418 $ — $ 1,186 $ 27 $ — $ 8,878 Collectively evaluated for impairment 1,120,982 181,381 356,517 128,266 588,118 35,119 68,035 2,478,418 Total $ 1,122,327 $ 183,283 $ 360,935 $ 128,266 $ 589,304 $ 35,146 $ 68,035 $ 2,487,296 As of December 31, 201 6 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and 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 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Allowance on loans and leases: Individually evaluated for impairment $ — $ — $ 50 $ — $ — $ — $ — $ 50 Collectively evaluated for impairment — — — — — — — — Purchased credit-impaired (1) — — — — — — — — Total $ — $ — $ 50 $ — $ — $ — $ — $ 50 As of December 31 , 2016 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases 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 7 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Carrying value of loans and leases: Individually evaluated for impairment $ 783 $ 260 $ 3,308 $ — $ 711 $ — $ — $ 5,062 Collectively evaluated for impairment 382,843 34,223 94,643 75,822 124,747 3,007 47,366 762,651 Purchased credit-impaired (1) 17,424 509 — 8,366 4,550 — — 30,849 Total $ 401,050 $ 34,992 $ 97,951 $ 84,188 $ 130,008 $ 3,007 $ 47,366 $ 798,562 As of December 31, 201 6 (dollars in thousands) Commercial Mortgage Home Equity Lines and Residential Mortgage Construction Commercial and Consumer Leases Total Carrying value of loans and leases: Individually evaluated f or 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 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Credit Risk Profile by Internally Assigned Grade Commercial Mortgage Construction Commercial and Industrial Total (dollars in thousands) December 31 , 201 7 December 31, 201 6 December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 December 31, 2017 December 31, 2016 Pass $ 1,490,862 $ 1,099,557 $ 193,227 $ 140,370 $ 711,145 $ 570,342 $ 2,395,234 $ 1,810,269 Special Mention 13,448 1,892 3,902 — 889 2,315 18,239 4,207 Substandard 18,194 9,449 15,325 1,594 6,013 5,512 39,532 16,555 Doubtful 873 — — — 1,265 1,622 2,138 1,622 Total $ 1,523,377 $ 1,110,898 $ 212,454 $ 141,964 $ 719,312 $ 579,791 $ 2,455,143 $ 1,832,653 Credit Risk Profile by Internally Assigned Grade Commercial Mortgage Construction Commercial and Industrial Total (dollars in thousands) December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 Pass $ 1,114,171 $ 936,737 $ 126,260 $ 140,370 $ 586,896 $ 544,876 $ 1,827,327 $ 1,621,983 Special Mention — 1,892 — — 664 2,279 664 4,171 Substandard 8,156 8,250 2,006 1,594 1,389 3,054 11,551 12,898 Doubtful — — — — 355 125 355 125 Total $ 1,122,327 $ 946,879 $ 128,266 $ 141,964 $ 589,304 $ 550,334 $ 1,839,897 $ 1,639,177 Credit Risk Profile by Internally Assigned Grade Commercial Mortgage Construction Commercial and Industrial Total (dollars in thousands) December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31 , 201 6 Pass $ 376,691 $ 162,820 $ 66,967 $ — $ 124,249 $ 25,466 $ 567,907 $ 188,286 Special Mention 13,448 — 3,902 — 225 36 17,575 36 Substandard 10,038 1,199 13,319 — 4,624 2,458 27,981 3,657 Doubtful 873 — — — 910 1,497 1,783 1,497 Total $ 401,050 $ 164,019 $ 84,188 $ — $ 130,008 $ 29,457 $ 615,246 $ 193,476 |
Financing Receivable by Financial Instrument Performance Status [Table Text Block] | Credit Risk Profile by Payment Activity Residential Mortgage Home Equity Lines and Loans Consumer Leases Total (dollars in thousands) December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 Performing $ 454,469 $ 410,882 $ 216,794 $ 205,710 $ 38,153 $ 25,339 $ 115,298 $ 55,755 $ 824,714 $ 697,686 Non-performing 4,417 2,658 1,481 2,289 — 2 103 137 6,001 5,086 Total $ 458,886 $ 413,540 $ 218,275 $ 207,999 $ 38,153 $ 25,341 $ 115,401 $ 55,892 $ 830,715 $ 702,772 Credit Risk Profile by Payment Activity Residential Mortgage Home Equity Lines and Loans Consumer Leases Total (dollars in thousands) December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 December 31 , 201 7 December 31, 201 6 Performing $ 359,430 $ 340,615 $ 182,062 $ 176,281 $ 35,146 $ 25,198 $ 67,932 $ 55,755 $ 644,570 $ 597,849 Non-performing 1,505 1,653 1,221 2,169 — 2 103 137 2,829 3,961 Total $ 360,935 $ 342,268 $ 183,283 $ 178,450 $ 35,146 $ 25,200 $ 68,035 $ 55,892 $ 647,399 $ 601,810 Credit Risk Profile by Payment Activity Residential Mortgage Home Equity Lines and Loans Consumer Leases Total (dollars in thousands) December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2017 December 31, 2016 December 31 , 2 017 December 31, 2016 December 31 , 2017 December 31, 2016 Performing $ 95,039 $ 70,267 $ 34,732 $ 29,429 $ 3,007 $ 141 $ 47,366 $ — $ 180,144 $ 99,837 Non-performing 2,912 1,005 260 120 — — — — 3,172 1,125 Total $ 97,951 $ 71,272 $ 34,992 $ 29,549 $ 3,007 $ 141 $ 47,366 $ — $ 183,316 $ 100,962 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | (dollars in thousands) December 31 , 201 7 December 31, 201 6 TDRs included in nonperforming loans and leases $ 3,289 $ 2,632 TDRs in compliance with modified terms 5,800 6,395 Total TDRs $ 9,089 $ 9,027 For the Twelve Months Ended December 31 , 201 7 (dollars in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Residential 3 $ 432 $ 432 Home equity lines and loans 3 582 582 Leases 4 100 100 Total 10 $ 1,114 $ 1,114 Number of Contracts 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 Residential 1 1 1 — — Home equity lines and loans — — 3 — — Leases — — — 4 — Total 1 1 4 4 — For the Twelve Months Ended December 31, 201 6 (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 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 |
Impaired Financing Receivables [Table Text Block] | As of or for the Twelve Months Ended December 31, 2017 (dollars in thousands) Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized I mpaired loans with related allowance: Home equity l ines and loans $ 577 $ 577 $ 19 $ 232 $ 7 $ — Residential mortgage 2,436 2,435 230 2,467 127 — Commercial and industrial 18 19 5 19 1 — Consumer 27 27 4 28 1 — Total $ 3,058 $ 3,058 $ 258 $ 2,746 $ 136 $ — Impaired loans* without related allowance: Commercial mortgage $ 2,128 $ 2,218 $ — $ 2,205 $ 85 $ — Home equity lines and loans 1,585 1,645 — 1,636 38 — Residential mortgage 5,290 5,529 — 4,994 191 — Commercial and industrial 1,879 3,613 — 2,079 35 — Total $ 10,882 $ 13,005 $ — $ 10,914 $ 349 $ — Grand total $ 13,940 $ 16,063 $ 258 $ 13,660 $ 485 $ — As of or for the Twelve Months Ended December 31, 2016 (dollars in thousands) Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized I mpaired 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 $ — As of or for the Twelve Months Ended December 31, 2015 (dollars in thousands) Recorded Investment** Principal Balance Related Allowance Average Principal Balance Interest I ncome R ecognized Cash-Basis Interest Income Recognized I mpaired 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 $ — |
Loans Acquired Record [Table Text Block] | As of December 31, 2017 (dollars in thousands) Outstanding Principal Remaining Loan Mark Recorded Investment Commercial mortgage $ 412,263 $ (11,213 ) $ 401,050 Home equity lines and loans 37,944 (2,952 ) 34,992 Residential mortgage 101,523 (3,572 ) 97,951 Construction 86,081 (1,893 ) 84,188 Commercial and industrial 141,960 (11,952 ) 130,008 Consumer 3,051 (44 ) 3,007 Leases 50,530 (3,164 ) 47,366 Total $ 833,352 $ (34,790 ) $ 798,562 As of December 31, 201 6 (dollars in thousands) 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 |
Note 6 - Other Real Estate Ow43
Note 6 - Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Other Real Estate, Roll Forward [Table Text Block] | December 31, (dollars in thousands) 201 7 201 6 Balance January 1 $ 1,017 $ 2,638 Additions 560 355 Impairments (121 ) (94 ) Sales (1,152 ) (1,882 ) Balance December 31 $ 304 $ 1,017 |
Note 7 - Premises and Equipme44
Note 7 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, (dollars in thousands) 201 7 201 6 Land $ 9,522 $ 5,306 Buildings 31,376 24,998 Furniture and equipment. 38,775 36,930 Leasehold improvements 26,636 24,713 Construction in progress 4,171 56 Less: accumulated depreciation (56,022 ) (50,225 ) Total $ 54,458 $ 41,778 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | (dollars in thousands) Commitments 201 8 $ 6,833 201 9 4,535 20 20 3,959 20 21 3,333 20 22 2,776 20 23 and thereafter 11,082 Total $ 32,518 |
Note 8 - Mortgage Servicing R45
Note 8 - Mortgage Servicing Rights ("MSR"s) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Servicing Asset at Amortized Cost [Table Text Block] | (dollars in thousands) 201 7 201 6 201 5 Balance, January 1 $ 5,582 $ 5,142 $ 4,765 Additions 1,025 1,321 1,037 Amortization (791 ) (750 ) (590 ) Recovery / Impairment) 45 (131 ) (70 ) Balance, December 31 $ 5,861 $ 5,582 $ 5,142 Fair value $ 6,397 $ 6,154 $ 5,726 Residential mortgage loans serviced for others $ 650,703 $ 631,889 $ 601,939 |
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets [Table Text Block] | (dollars in thousands) 201 7 201 6 201 5 Balance, January 1 $ (1,805 ) $ (1,674 ) $ (1,604 ) Impairment (52 ) (715 ) (123 ) Recovery 97 584 53 Balance, December 31 $ (1,760 ) $ (1,805 ) $ (1,674 ) |
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block] | (dollars in thousands) Fair value amount of MSRs $ 6,397 Weighted average life (in years) 6.1 Prepayment speeds (constant prepayment rate)* 10.3 % Impact on fair value: 10% adverse change $ (194 ) 20% adverse change $ (394 ) 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, 2017 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | As of December 31, (dollars in thousands) 201 7 2016 Savings $ 338,572 $ 232,193 NOW accounts* 482,252 380,057 Market rate accounts* 923,999 835,296 Retail t ime deposits, less than $100 272,528 139,276 Retail t ime deposits, $100 or more 259,674 183,636 Wholesale time deposits 171,929 73,037 Total interest-bearing deposits $ 2,448,954 $ 1,843,495 Non-interest-bearing deposits 924,844 736,180 Total deposits $ 3,373,798 $ 2,579,675 |
Schedule of Maturities of Time Deposits [Table Text Block] | As of December 31, 201 7 (dollars in thousands) Less than $100 $100 or more Maturing during: 201 8 $ 183,049 $ 197,127 201 9 52,972 40,707 20 20 16,794 11,020 20 21 13,737 8,471 20 22 and thereafter 5,976 2,349 Total $ 272,528 $ 259,674 |
Schedule of Time Deposit Contractual Maturities [Table Text Block] | As of December 31, 201 7 (dollars in thousands) Less than $100 $100 or more Maturing during: 201 8 $ 3,729 $ 153,207 2019 — 14,993 Total $ 3,729 $ 168,200 |
Note 10 - Short-term Borrowin47
Note 10 - Short-term Borrowings and Long-term FHLB Advances (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | As of December 31, (dollars in thousands) 201 7 201 6 Repurchase agreements * – commercial customers $ 25,865 $ 39,151 Short-term FHLB advances 212,000 165,000 Total short-term borrowings $ 237,865 $ 204,151 |
Schedule of Additional Information on Short Term Borrowings [TableText Block] | As of or Twelve Months Ended December 31, (dollars in thousands) 2017 2016 Balance at period-end $ 237,865 $ 204,151 Maximum amount outstanding at any month end $ 237,865 $ 204,151 Average balance outstanding during the period $ 128,008 $ 37,041 Weighted-average interest rate: As of the period-end 1.40 % 0.66 % Paid during the period 1.09 % 0.25 % |
Schedule of Maturities of Long-term Debt [Table Text Block] | As of December 31, (dollars in thousands) 201 7 2016 Within one year $ 83,766 $ 75,000 Over one year through five years 55,374 114,742 Total $ 139,140 $ 189,742 |
Schedule of Federal Home Loan Bank Advances and Other Borrowings Maturities [Table Text Block] | Maturity Range (1) Weighted Average Coupon Rate (1) Balance at December 31, Description From To Rate (1) From To 2017 2016 Bullet maturity – fixed rate 2/14/2018 8/24/2021 1.63 % 1.05 % 2.13 % 118,131 153,612 Bullet maturity – variable rate N/A N/A N/A N/A N/A — 15,000 Convertible-fixed (2) 1/3/2018 8/20/2018 2.94 % 2.58 % 3.50 % 21,009 21,130 Total $ 139,140 $ 189,742 |
Note 13 - Derivatives and Hed48
Note 13 - Derivatives and Hedging Activities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | Asset Derivatives Liability Derivatives (dollars in thousands) Notional Amount Fair Value Notional Amount Fair Value Derivatives not designated as hedging instruments As of December 31, 2017: Customer derivatives – interest rate swaps $ 124,627 $ 1,895 $ 124,627 $ 1,895 Risk participation agreements sold — — 899 3 Risk participation agreements purchased 14,710 21 — — Total derivatives $ 139,337 $ 1,916 $ 125,526 $ 1,898 As of December 31, 2016: Customer derivatives – interest rate swaps $ — $ — $ — $ — Risk participation agreements — — — — Total derivatives $ — $ — $ — $ — |
Note 14 - Disclosure About Fa49
Note 14 - Disclosure About Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | As of December 31, 201 7 201 6 (dollars in thousands) Fair Value Hierarchy Level * Carrying Amount Fair Value Carrying Amount Fair Value Financial assets: Cash and cash equivalents Level 1 $ 60,024 $ 60,024 $ 50,765 $ 50,765 Investment securities - available for sale See Note 15 689,202 689,202 566,996 566,996 Investment securities - trading See Note 15 4,610 4,610 3,888 3,888 Investment securities – held to maturity Level 2 7,932 7,851 2,879 2,818 Loans held for sale Level 2 3,794 3,794 9,621 9,621 Net portfolio loans and leases Level 3 3,268,333 3,293,802 2,517,939 2,505,546 Mortgage servicing rights Level 3 5,861 6,397 5,582 6,154 Interest rate swaps Level 2 1,895 1,895 — — Risk participation agreements purchased Level 2 21 21 — — Other assets Level 3 46,799 46,799 34,465 34,465 Total financial assets $ 4,088,471 $ 4,114,395 $ 3,192,135 $ 3,180,253 Financial liabilities: Deposits Level 2 $ 3,373,798 $ 3,368,276 $ 2,579,675 $ 2,579,011 Short-term borrowings Level 2 237,865 237,865 204,151 204,151 Long-term FHLB advances Level 2 139,140 138,685 189,742 186,863 Subordinated notes Level 2 98,416 95,044 29,532 29,228 J unior subordinated debentures Level 2 21,416 19,366 — — Interest rate swaps Level 2 1,895 1,895 — — Risk participation agreements sold Level 2 3 3 — — Other liabilities Level 3 49,071 49,071 37,303 37,303 Total financial liabilities $ 3,921,604 $ 3,910,205 $ 3,040,403 $ 3,036,556 |
Note 15 - Fair Value Measurem50
Note 15 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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 151.0 — 151.0 — Obligations of state & political subdivisions 21.3 — 21.3 — Mortgage-backed securities 275.0 — 275.0 — Collateralized mortgage obligations 36.7 — 36.7 — Mutual funds 8.1 8.1 — — Other debt securities 1.6 — 1.6 — Interest rate swaps 1.9 — 1.9 — Total assets measured on a recurring basis at fair value $ 69 5.7 $ 208. 2 $ 48 7.5 $ — (dollars in millions) Total Level 1 Level 2 Level 3 Mortgage servicing rights $ 6.4 $ — $ — $ 6.4 Impaired loans and leases 14.0 — — 14.0 OREO 0.3 — — 0.3 Total assets measured at fair value on a non-recurring basis $ 20.7 $ — $ — $ 20.7 (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 |
Note 17 - Pension and Postret51
Note 17 - Pension and Postretirement Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Assumptions Used [Table Text Block] | QDBP SERP I and SERP II PRBP 201 7 201 6 201 7 201 6 201 7 201 6 Discount rate N/A N/A 3.30 % 3.75 % 2.75 % 2.80 % 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) 201 7 201 6 201 7 201 6 201 7 201 6 Change in benefit obligations Benefit obligation at January 1 $ — $ 169 $ 4,786 $ 4,830 $ 418 $ 493 Service cost — — — — — — Interest cost — — 176 184 11 17 Plan participants contribution — — — — 44 49 Actuarial loss (gain) — — 282 32 (9 ) (6 ) Settlements — — — — — — Benefits paid — (169 ) (261 ) (260 ) (111 ) (135 ) Benefit obligation at December 31 $ — $ — $ 4,983 $ 4,786 $ 353 $ 418 Change in plan assets Fair value of plan assets at January 1 $ — $ 169 $ — $ — $ — $ — Actual return on plan assets — — — — — — Settlements — — — — — — Excess assets transferred to defined contribution plan — — — — — — Employer contribution — — 261 260 67 86 Plan participants ’ contribution — — — — 44 49 Benefits paid — (169 ) (261 ) (260 ) (111 ) (135 ) Fair value of plan assets at December 31 $ — $ — $ — $ — $ — $ — Funded status at year end (plan assets less benefit obligations) $ — $ — $ (4,983 ) $ (4,786 ) $ (353 ) $ (418 ) For the Twelve Months Ended December 31, QDBP SERP I & SERP II PRBP Amounts included in the Consolidated Balance Sheet as Other assets (liabilities) and accumulated other comprehensive income including the following: 201 7 201 6 201 7 201 6 201 7 201 6 Prepaid benefit cost/(accrued liability) $ — $ — $ (3,221 ) $ (3,248 ) $ (149 ) $ (170 ) Net actuarial loss — — (1,762 ) (1,539 ) (204 ) (248 ) Prior service cost — — — — — — Unrecognized net initial obligation — — — — — — Net included in Other liabilities in the Consolidated Balance Sheets $ — $ — $ (4,983 ) $ (4,787 ) $ (353 ) $ (418 ) |
Schedule of Net Benefit Costs [Table Text Block] | QDBP Net Periodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Service cost $ — $ — $ — Interest cost — — 1,589 Expected return on plan assets — — (3,217 ) Amortization of prior service cost — — — Recognition of net actuarial loss — — 1,913 Recognition of net actuarial loss due to settlement — — 17,377 Net periodic pension cost $ — $ — $ 17,662 SERP I and SERP II Pe riodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Service cost $ — $ — $ — Interest cost 176 184 184 Amortization of prior service cost — — — Recognition of net actuarial loss 59 57 63 Net periodic pension cost $ 235 $ 241 $ 247 PRBP Net Periodic Pension Cost For the Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Service cost $ — $ — $ — Interest cost 11 17 18 Amortization of prior service cost — — — Recognition of net actuarial loss 36 41 37 Net periodic pension cost $ 47 $ 58 $ 55 For the Twelve Months Ended December 31, Discount Rate Used in the Calculation of Periodic Pension Costs 201 7 201 6 201 5 SERP I and SERP II 3.75 % 3.90 % 3.70 % PRBP 2.80 % 3.90 % 3.70 % |
Schedule of Expected Benefit Payments [Table Text Block] | (dollars in thousands) SERP I & SERP II PRBP Fiscal year ending 2018 $ 260 $ 67 2019 $ 259 $ 58 2020 $ 258 $ 51 2021 $ 255 $ 43 2022 $ 283 $ 37 2023-2027 $ 1,751 $ 105 |
Note 18 - Accumulated Other C52
Note 18 - Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 2014 $ 1,316 $ (25 ) $ (12,995 ) $ (11,704 ) Other comprehensive (loss) income (542 ) 25 11,809 11,292 Balance, December 31, 2015 $ 774 $ — $ (1,186 ) $ (412 ) Balance, December 31, 2015 $ 774 $ — $ (1,186 ) $ (412 ) Other comprehensive (loss) income (2,005 ) — 8 (1,997 ) Balance, December 31, 2016 $ (1,231 ) $ — $ (1,178 ) $ (2,409 ) Balance, December 31, 2016 $ (1,231 ) $ — $ (1,178 ) $ (2,409 ) Other comprehensive (loss) income (1,123 ) — (100 ) (1,223 ) Reclassification due to the adoption of ASU No. 2018-02 (507 ) — (275 ) (782 ) Balance, December 31, 2017 $ (2,861 ) $ — $ (1,553 ) $ (4,414 ) |
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 201 7 201 6 201 5 Category Net unrealized gain on investment securities available for sale: Realization of (loss) gain on sale of investment securities available for sale $ 101 $ (77 ) $ 931 Net gain (loss) on sale of available for sale investment securities L ess: income tax (expense) benefit (35 ) 27 (326 ) Less: income tax benefit (expense) Net of income tax $ 66 $ (50 ) $ 605 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* $ 95 $ 98 $ 2,013 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* — — — Employee benefits Gain on curtailment of SERP II — — — Net gain on curtailment of nonqualified pension plan Total $ 95 $ 98 $ 19,390 Total expense before income tax benefit Less: income tax benefit 33 34 6,787 Less: income tax benefit Net of income tax $ 62 $ 64 $ 12,603 Net of income tax |
Note 19 - Income Taxes (Tables)
Note 19 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, (dollars in thousands) 2017 2016 Deferred tax assets: Loan and lease loss reserve $ 3,948 $ 6,492 Other reserves 3,169 3,611 Net operating loss carry-forward 11,113 471 Alternative minimum tax credits 1,116 567 Unrealized depreciation of available for sale securities 761 663 Defined benefit plans 1,361 2,068 RBPI Merger Fair Values 4,726 — Total deferred tax asset $ 26,194 $ 13,872 Deferred tax liabilities: Other reserves $ 19 $ 52 Originated MSRs 1,253 1,969 Amortizing fair value adjustments 970 1,336 Other 53 — Total deferred tax liability $ 2,295 $ 3,357 Total net deferred tax asset $ 23,899 $ 10,515 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | December 31, (dollars in thousands) 2017 2016 2015 Current $ 13,812 $ 16,492 $ 12,006 Deferred 20,418 1,676 (2,834 ) Total $ 34,230 $ 18,168 $ 9,172 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (dollars in thousands) 2017 Tax Rate 2016 Tax Rate 2015 Tax Rate Computed tax expense at statutory federal rate $ 20,036 35.0 % $ 18,972 35.0 % $ 9,074 35.0 % Tax-exempt income (600 ) (1.0 ) (758 ) (1.4 ) (622 ) (2.4 ) State tax (net of federal tax benefit) 303 0.5 425 0.8 299 1.2 Non-deductible merger expense 455 0.8 — — 105 0.4 Excess tax benefit – stock based compensation (1,049 ) (1.8 ) (565 ) (1.0 ) — — Adjustment to net deferred tax assets for enacted changes in tax laws and rates 15,193 26.5 — — — — Other, net (108 ) (0.2 ) 94 0.1 316 1.2 Total income tax expense $ 34,230 59.8 % $ 18,168 33.5 % $ 9,172 35.4 % |
Components of Provisional Tax Expense Related to Tax Law Changes [Table Text Block] | Components of Provi sional Tax Expense Related to Tax Law Changes (dollars in thousands) Deferred taxes related to items recognized in continuing operations $ 14,410 Deferred taxes on net actuarial loss on defined benefit post-retirement benefit plans 275 Deferred taxes on net unrealized losses on available for sale investment securities 507 $ 15,192 |
Note 20 - Stock-based Compens54
Note 20 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Shares Authorized for Grant 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 Grants of RSUs (40,137 ) Grants of PSUs (41,323 ) Expiration of unexercised options 250 Non-vesting PSUs* — Forfeitures of PSUs 3,899 Forfeitures of RSUs 4,305 Balance, December 31, 2017 479,953 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | For the Twelve Months Ended December 31, 201 7 201 6 201 5 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 185,023 $ 21.04 $ 4.88 290,853 $ 20.88 $ 4.85 447,966 $ 20.94 $ 4.75 Assumed in the CBH Merger — $ — $ — — $ — $ — 181,256 $ 17.73 $ — Expired (250 ) $ 22.00 $ 4.90 — $ — $ — (3,180 ) $ 21.33 $ 4.84 Exercised (69,527 ) $ 21.55 $ 4.91 (105,830 ) $ 20.61 $ 7.32 (335,189 ) $ 19.25 $ 4.62 Options outstanding, end of period 115,246 $ 20.73 $ 4.86 185,023 $ 21.04 $ 4.88 290,853 $ 20.88 $ 4.85 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Range of Exercise Prices Options Outstanding and Exercisable Remaining Contractual Life (in years) Weighted Average Exercise Price* $10.36 to $17.15 1,383 1.21 $ 12.58 $17.16 to $18.30 65,050 1.64 18.27 $18.31 to $21.30 563 6.05 18.33 $21.31 to $24.27 48,250 0.63 24.27 Total Outstanding and Exercisable 115,246 |
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) 201 7 201 6 201 5 Proceeds from strike price of value of options exercised $ 1,498 $ 2,181 $ 6,452 Related tax benefit recognized 506 256 515 Proceeds of options exercised $ 2,004 $ 2,437 $ 6,967 Intrinsic value of options exercised $ 1,445 $ 1,125 $ 3,615 |
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, 201 7 201 6 201 5 Options Outstanding Exercisable Options Options Outstanding Exercisable Options Options Outstanding Exercisable Options Number 115,246 115,246 185,023 185,023 290,853 290,853 Weighted average exercise price $ 20.73 $ 20.73 $ 21.03 $ 21.03 $ 20.88 $ 20.88 Aggregate intrinsic value $ 2,704,824 $ 2,704,824 $ 3,907,758 $ 3,907,758 $ 2,280,288 $ 2,280,288 Weighted average contractual term 1.2 yrs 1.2 yrs 2.0 yrs 2.0 yrs 2.9 yrs 2.9 yrs |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Twelve Months Ended December 31, 201 7 Twelve Months Ended December 31, 201 6 Twelve Months Ended December 31, 201 5 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 58,862 $ 29.57 42,802 $ 28.58 46,281 $ 23.17 Granted 40,137 $ 41.23 33,142 $ 29.67 24,514 $ 29.83 Vested (18,987 ) $ 29.40 (15,832 ) $ 27.14 (27,993 ) $ 20.73 Forfeited (4,305 ) $ 29.54 (1,250 ) $ 29.12 — $ — Ending balance 75,707 $ 35.80 58,862 $ 29.57 42,802 $ 28.58 |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | Twelve Months Ended December 31, 201 7 Twelve Months Ended December 31, 201 6 Twelve Months Ended December 31, 201 5 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 192,844 $ 18.77 216,820 $ 15.07 217,318 $ 13.41 Granted 41,323 $ 37.86 45,346 $ 28.34 92,474 $ 16.42 Vested (61,815 ) $ 15.05 (56,890 ) $ 13.38 (44,242 ) $ 11.80 Non-vesting* — $ — (10,088 ) $ 13.38 (25,929 ) $ 11.80 Forfeited (3,899 ) $ 21.45 (2,344 ) $ 15.37 (22,801 ) $ 14.75 Ending balance 168,453 $ 24.76 192,844 $ 18.77 216,820 $ 15.07 |
Note 21 - Earnings Per Share (T
Note 21 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (dollars in thousands, Year Ended December 31, except per share data) 201 7 201 6 2015 Numerator - Net income available to common shareholders $ 23,016 $ 36,036 $ 16,754 Denominator for basic earnings per share – Weighted average shares outstanding * 17,150,125 16,859,623 17,488,325 Effect of dilutive potential common shares 248,798 168,499 267,996 Denominator for diluted earnings per share – Adjusted weighted average shares outstanding 17,398,923 17,028,122 17,756,321 Basic earnings per share $ 1.34 $ 2.14 $ 0.96 Diluted earnings per share $ 1.32 $ 2.12 $ 0.94 Antidilutive shares excluded from computation of average dilutive earnings per share 27,159 — — |
Note 25 - Regulatory Capital 56
Note 25 - Regulatory Capital Requirements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
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, 201 7 Total capital to risk weighted assets: Corporation $ 461,414 13.85 % $ 333,068 10.00 % Bank $ 387,067 11.65 % $ 332,388 10.00 % Tier I capital to risk weighted assets: Corporation $ 344,964 10.36 % $ 266,454 8.00 % Bank $ 369,033 11.10 % $ 265,910 8.00 % Common equity Tier I risk weighted assets: Corporation $ 326,454 9.80 % $ 216,494 6.50 % Bank $ 369,033 11.10 % $ 216,052 6.50 % Tier I leverage ratio (Tier I capital to total quarterly average assets): Corporation $ 344,964 10.04 % $ 171,804 5.00 % Bank $ 369,033 10.75 % $ 171,609 5.00 % December 31, 201 6 Total 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 % Common equity Tier I to risk weighted assets : Corporation $ 270,845 10.51 % $ 167,474 6.50 % Bank $ 270,083 10.50 % $ 167,166 6.50 % Tier I leverage ratio (Tier I capital to total quarterly average assets): Corporation $ 270,845 8.73 % $ 155,035 5.00 % Bank $ 270,083 8.73 % $ 154,761 5.00 % |
Note 26 - Selected Quarterly 57
Note 26 - Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 201 7 (dollars in thousands, except per share data) 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Interest income $ 30,326 $ 31,237 $ 33,198 $ 34,798 Interest expense 2,923 3,272 3,760 4,477 Net interest income 27,403 27,965 29,438 30,321 Provision for / (release of) loan and lease losses 291 (83 ) 1,333 1,077 Non-interest income 13,227 14,785 15,584 15,536 Non-interest expense 26,660 28,495 28,184 31,056 Income before income taxes 13,679 14,338 15,505 13,724 Income taxes 4,635 4,905 4,766 19,924 Net income / (loss) $ 9,044 $ 9,433 $ 10,739 $ (6,200 ) Basic earnings (loss) per common share * $ 0.53 $ 0.56 $ 0.63 $ (0.35 ) Diluted earnings (loss) per common share * $ 0.53 $ 0.55 $ 0.62 $ (0.35 ) Dividend declared $ 0.21 $ 0.21 $ 0.22 $ 0.22 201 6 (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 Non-interest income 13,153 13,781 13,786 13,248 Non-interest expense 24,996 26,220 25,371 25,087 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 |
Note 27 - Parent Company - On58
Note 27 - Parent Company - Only Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | December 31, (dollars in thousands) 201 7 201 6 Assets: Cash $ 68,535 $ 23,663 Investment securities 458 400 Investments in subsidiaries, as equity in net assets 580,230 384,751 Premises and equipment, net 2,189 2,288 Goodwill 245 245 Other assets 1,135 1,435 Total assets $ 652,792 $ 412,782 Liabilities and shareholders ’ equity: Subordinated notes 98,416 29,532 Junior subordinated debentures 21,416 — Other liabilities 4,158 2,123 Total liabilities $ 123,990 $ 31,655 Common stock, par value $1, authorized 100,000,000 shares issued 24,360,049 shares and 21,110,968 shares as of December 31, 2017 and 2016, respectively, and outstanding 20,161,395 shares and 16,939,715 shares as of December 31, 2017 and 2016, respectively $ 24,360 $ 21,111 Paid-in capital in excess of par value 371,486 232,806 Less common stock in treasury, at cost – 4,198,654 shares and 4,171,253 shares as of December 31, 2017 and 2016, respectively (68,179 ) (66,950 ) Accumulated other comprehensive loss, net of deferred income taxes benefit (4,414 ) (2,409 ) Retained earnings 205,549 196,569 Total shareholders ’ equity $ 528,802 $ 381,127 Total liabilities and shareholders ’ equity $ 652,792 $ 412,782 |
Condensed Income Statement [Table Text Block] | Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Dividends from subsidiaries $ 950 $ 17,718 $ 34,234 Net interest and other income 2,761 2,714 2,128 Total operating income 3,711 20,432 36,362 Expenses 2,782 2,443 2,140 Income before equity in undistributed income of subsidiaries 929 17,989 34,222 Equity in undistributed income of subsidiaries 21,053 17,600 (17,427 ) Income before income taxes 21,982 35,589 16,795 Income tax (benefit) expense (1,034 ) (447 ) 41 Net income $ 23,016 $ 36,036 $ 16,754 |
Condensed Cash Flow Statement [Table Text Block] | Twelve Months Ended December 31, (dollars in thousands) 201 7 201 6 201 5 Operating activities: Net Income $ 23,016 $ 36,036 $ 16,754 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiaries (21,053 ) (17,600 ) 17,427 Depreciation and amortization 154 151 121 Stock-based compensation cost 2,068 1,713 1,441 Other, net 1,241 1,000 508 Net cash provided by operating activities 5,426 21,300 36,251 Investing Activities: Investment in subsidiaries (15,300 ) (15,000 ) — Net change in trading securities (58 ) — 16 Acquisitions, net of cash acquired 531 — 128 Net cash (used in) provid ed by investing activities (14,827 ) (15,000 ) 144 Financing activities: Dividends paid (14,799 ) (13,961 ) (13,837 ) Proceeds from issuance of subordinated notes 68,829 — 29,456 Net purchase of treasury stock for deferred compensation plans (115 ) (133 ) (128 ) Net purchase of treasury stock through publicly announced plans — (7,971 ) (26,418 ) Proceeds from issuance of common stock — — 20 Excess tax benefit from stock-based compensation — — 783 Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation (1,140 ) (745 ) — Proceeds from exercise of stock options 1,498 2,181 6,452 Net cash provided by ( used in) financing activities 54,273 (20,629 ) (3,672 ) Change in cash and cash equivalents 44,872 (14,329 ) 32,723 Cash and cash eq uivalents at beginning of period 23,663 37,992 5,269 Cash and cash equivalents at end of period $ 68,535 $ 23,663 $ 37,992 |
Note 28 - Segment Information (
Note 28 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | As of or f or the Twelve Months Ended December 31, 201 7 201 6 201 5 (dollars in thousands) Banking Wealth Management Consolidated Banking Wealth Management Consolidated Banking Wealth Management Consolidated Net interest income $ 115,124 $ 3 $ 115,127 $ 106,233 $ 3 $ 106,236 $ 100,124 $ 3 $ 100,127 Less: loan loss provision 2,618 — 2,618 4,326 — 4,326 4,396 — 4,396 Net interest income after loan loss provision 112,506 3 112,509 101,907 3 101,910 95,728 3 95,731 Other income: Fees for wealth management services — 38,735 38,735 — 36,690 36,690 — 36,894 36,894 Service charges on deposit accounts 2,608 — 2,608 2,791 — 2,791 2,927 — 2,927 Loan servicing and other fees 2,106 — 2,106 1,939 — 1,939 2,087 — 2,087 Net gain on sale of loans 2,441 — 2,441 3,048 — 3,048 2,847 — 2,847 Net gain (loss) on sale of available for sale securities 101 — 101 (77 ) — (77 ) 931 — 931 ) Net (loss) gain on sale of other real estate owned (104 ) — (104 ) (76 ) — (76 ) 123 — 123 ) Insurance commissions. — 4,589 4,589 — 3,722 3,722 — 3,745 3,745 Capital markets revenue 2,396 — 2,396 — — — — — — Other operating income 6,063 197 6,260 5,773 158 5,931 6,082 149 6,231 Total other income 15,611 43,521 59,132 13,398 40,570 53,968 14,997 40,788 55,785 Other expenses: Salaries & wages 36,559 16,692 53,251 32,321 15,090 47,411 30,391 14,184 44,575 Employee benefits 6,632 3,820 10,452 6,257 3,291 9,548 7,298 2,907 10,205 Loss on pension plan settlement — — — — — — 17,377 — 17,377 Occupancy and bank premises 8,208 1,698 9,906 8,005 1,606 9,611 8,662 1,643 10,305 Amortization of intangible assets 783 1,951 2,734 872 2,626 3,498 1,172 2,655 3,827 Professional fees 2,998 270 3,268 3,516 143 3,659 3,227 126 3,353 Other operating expenses 30,323 4,461 34,784 24,112 3,835 27,947 31,975 3,973 35,948 Total other expenses 85,503 28,892 114,395 75,083 26,591 101,674 100,102 25,488 125,590 Segment profit 42,614 14,632 57,246 40,222 13,982 54,204 10,623 15,303 25,926 Intersegment (revenues) expenses* (448 ) 448 — (396 ) 396 — (422 ) 422 — Pre-tax segment profit after eliminations $ 42,166 $ 15,080 $ 57,246 $ 39,826 $ 14,378 $ 54,204 $ 10,201 $ 15,725 $ 25,926 % of segment pre-tax profit after eliminations 73.7 % 26.3 % 100.0 % 73.5 % 26.5 % 100.0 % 39.3 % 60.7 % 100.0 % Segment assets (dollars in millions) $ 4,398.5 $ 51.2 $ 4,449.7 $ 3,377.1 $ 44.4 $ 3,421.5 $ 2,983.2 $ 47.8 $ 3,031.0 |
Wealth [Member] | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (dollars in millions) December 31, 201 7 December 31, 2017 Assets under management, administration, supervision and brokerage $ 12,968.7 $ 11,328.5 |
Note 1 - Summary of Significa60
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | Dec. 15, 2017USD ($)shares | May 24, 2017USD ($) | Apr. 01, 2015USD ($) | Jan. 01, 2015USD ($)shares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2012USD ($) |
Number of Service Branches | 37 | ||||||||
Number of Limited-hour Retirement Community Offices | 8 | ||||||||
Number of Limited-service Branches | 2 | ||||||||
Number of Wealth Offices | 6 | ||||||||
Cash Reserve Deposit Required and Made | $ 5,800 | $ 10,400 | |||||||
Other than Temporary Impairment Losses, Investments | $ 0 | 0 | $ 0 | ||||||
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 | $ 20,083 | $ 17,305 | |||||||
Federal Reserve Bank Stock | 6,900 | ||||||||
Derivative, Notional Amount | $ 15,000 | ||||||||
Debt Instrument, Face Amount | $ 15,000 | ||||||||
Reclassification of Tax Effects From AOCI | |||||||||
Retained Earnings [Member] | |||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 782 | ||||||||
Reclassification of Tax Effects From AOCI | 782 | ||||||||
Retained Earnings [Member] | Accounting Standards Update 2016-01 [Member] | Scenario, Forecast [Member] | |||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 296 | ||||||||
AOCI Attributable to Parent [Member] | |||||||||
Reclassification of Tax Effects From AOCI | (782) | ||||||||
Reclassification of Income Tax on Unrealized Losses on Available for Sale Investment Securities [Member] | |||||||||
Current Period Reclassification Adjustment | 507 | ||||||||
Reclassification of Income Tax on Unrealized Losses on Non-qualified Pension Liabilities [Member] | |||||||||
Current Period Reclassification Adjustment | 275 | ||||||||
ASU 2018-02 [Member] | AOCI Attributable to Parent [Member] | |||||||||
Reclassification of Tax Effects From AOCI | $ (782) | ||||||||
Trade Name, Hirshorn Boothby [Member] | |||||||||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||||||||
RBPI [Member] | |||||||||
Business Combination, Consideration Transferred | $ 138,627 | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 3,098,754 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 140,224 | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 1,900 | ||||||||
Business Combination, Consideration Transferred, Equity Interest Cash Out of Certain Options | 112 | ||||||||
Business Combination, Consideration Transferred, Equity Interest, Cash Paid in Lieu of Fractional Shares | 7 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | 570,400 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 121,587 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Liabilities | $ 593,172 | ||||||||
Business Combination, Number of Branches Acquired | 12 | ||||||||
Hirshorn [Member] | |||||||||
Business Combination, Consideration Transferred | $ 7,460 | ||||||||
Payments to Acquire Businesses, Gross | 5,770 | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Installment | $ 575 | ||||||||
Robert J. McAllister Agency, Inc. ("RJM") [Member] | |||||||||
Business Combination, Consideration Transferred | $ 1,000 | ||||||||
Payments to Acquire Businesses, Gross | 500 | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Installment | 100 | ||||||||
Business Combination, Payment of Contingent Consideration Installment | 85 | ||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Remaining Installment | $ 100 | ||||||||
Business Combination, Number of Remaining Contingent Consideration Installments | 3 | ||||||||
Continental Bank Holdings, Inc. ("CBH") [Member] | |||||||||
Business Combination, Consideration Transferred | $ 125,100 | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 3,098,754 | 3,878,383 | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 136,700 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans | $ 424,700 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 181,800 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Liabilities | $ 481,700 | ||||||||
Business Combination, Number of Branches Acquired | 10 | ||||||||
Business Combination, Consideration Transferred, Equity Interest, Fair Value of Stock Options | $ 2,300 | ||||||||
Business Combination, Consideration Transferred, Equity Interest Cash Out of Certain Warrants | $ 1,300 |
Note 2 - Business Combination61
Note 2 - Business Combinations (Details Textual) $ in Thousands | Dec. 15, 2017USD ($)shares | May 24, 2017USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Core Deposits [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years | 10 years | ||
RBPI [Member] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 3,098,754 | |||
Business Combination, Consideration Transferred, Equity Interest, Cash Paid in Lieu of Fractional Shares | $ 7 | |||
Business Combination, Consideration Transferred, Equity Interest Cash Out of Certain Options | $ 112 | |||
Business Combination, Warrants Converted by Acquirer | shares | 1,368,040 | |||
Business Combination, Warrants Converted by Acquirer, Value | $ 1,853 | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 140,224 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Receivable, Interest Rate Fair Value Adjustment | $ 730 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Receivable, General Credit Fair Value Adjustment | 13,100 | |||
Certain Loans Acquired in Transfer, Nonaccretable Difference | 13,042 | |||
Certain Loans Acquired in Transfer, Accretable Yield | 2,319 | |||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Property Plant and Equipment Fair Value Adjustment Prior To Acquisition | 2,300 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Premium | 2,500 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Discount on Junior Subordinated Debentures | 4,400 | |||
Business Combination, Consideration Transferred | 138,627 | |||
RBPI [Member] | Core Deposits [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 4,670 | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||
RBPI [Member] | Common Class A [Member] | ||||
Business Combination, Stock Consideration, Conversion Ratio of Shares in Acquirer | 0.1025 | |||
RBPI [Member] | Common Class B [Member] | ||||
Business Combination, Stock Consideration, Conversion Ratio of Shares in Acquirer | 0.1179 | |||
Hirshorn [Member] | ||||
Business Combination, Consideration Transferred | $ 7,460 | |||
Payments to Acquire Businesses, Gross | 5,770 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High, Each Installment | $ 575 |
Note 2 - Business Combination62
Note 2 - Business Combinations - Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands | Dec. 15, 2017 | May 24, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill | $ 179,889 | $ 104,765 | $ 104,765 | ||
RBPI [Member] | |||||
Common shares issued (3,098,754) | $ 136,655 | ||||
Cash in lieu of fractional shares | 7 | ||||
Cash-out of certain options | 112 | ||||
Fair value of warrants assumed | 1,853 | ||||
Value of consideration | 138,627 | ||||
Cash and due from banks | 17,092 | ||||
Investment securities available for sale | 121,587 | ||||
Loans | 570,373 | ||||
Premises and equipment | 8,264 | ||||
Deferred income taxes | 33,135 | ||||
Bank-owned life insurance | 16,550 | ||||
Other assets | 14,487 | ||||
Total assets | 786,724 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Liabilities | 593,172 | ||||
FHLB and other long-term borrowings | 59,568 | ||||
Short-term borrowings | 15,000 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Junior Subordinated Debentures | 21,416 | ||||
Unfavorable lease liability | 322 | ||||
Other liabilities | 31,381 | ||||
Total liabilities | 720,859 | ||||
Net assets acquired | 65,865 | ||||
Goodwill | 72,762 | ||||
Value of consideration | 138,627 | ||||
Total assets | 786,724 | ||||
RBPI [Member] | Core Deposits [Member] | |||||
Intangible asset | 4,670 | ||||
RBPI [Member] | Off-Market Favorable Lease [Member] | |||||
Intangible asset | $ 566 | ||||
Hirshorn [Member] | |||||
Value of consideration | $ 7,460 | ||||
Cash and due from banks | 978 | ||||
Premises and equipment | 1,795 | ||||
Other assets | 27 | ||||
Total assets | 5,900 | ||||
Other liabilities | 2 | ||||
Total liabilities | 802 | ||||
Net assets acquired | 5,098 | ||||
Goodwill | 2,362 | ||||
Cash paid at closing | 5,770 | ||||
Contingent payment liability (present value) | 1,690 | ||||
Value of consideration | 7,460 | ||||
Accounts receivable | 192 | ||||
Total assets | 5,900 | ||||
Accounts payable | 800 | ||||
Hirshorn [Member] | Trade Names [Member] | |||||
Intangible asset | 195 | ||||
Hirshorn [Member] | Customer Relationships [Member] | |||||
Intangible asset | 2,672 | ||||
Hirshorn [Member] | Noncompete Agreements [Member] | |||||
Intangible asset | $ 41 |
Note 2 - Business Combination63
Note 2 - Business Combinations - Assets and Liabilities Assumed (Details) (Parentheticals) | Dec. 15, 2017shares |
RBPI [Member] | |
Shares issued (in shares) | 3,098,754 |
Note 2 - Business Combination64
Note 2 - Business Combinations - Acquired Impaired Loans (Details) - RBPI [Member] $ in Thousands | Dec. 15, 2017USD ($) |
Contractually required principal and interest payments | $ 36,138 |
Contractual cash flows not expected to be collected (nonaccretable difference) | (13,042) |
Cash flows expected to be collected | 23,096 |
Interest component of expected cash flows (accretable yield) | (2,319) |
Fair value of loans acquired with deterioration of credit quality | $ 20,777 |
Note 2 - Business Combination65
Note 2 - Business Combinations - Pro Forma Income Statements (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||||||||
Total interest income | $ 34,798 | $ 33,198 | $ 31,237 | $ 30,326 | $ 29,922 | $ 29,514 | $ 29,286 | $ 28,269 | $ 129,559 | $ 116,991 | $ 108,542 | |||||||||
Total interest expense | 4,477 | 3,760 | 3,272 | 2,923 | 2,932 | 2,797 | 2,659 | 2,367 | 14,432 | 10,755 | 8,415 | |||||||||
Net interest income | 30,321 | 29,438 | 27,965 | 27,403 | 26,990 | 26,717 | 26,627 | 25,902 | 115,127 | 106,236 | 100,127 | |||||||||
Net interest income after provision for loan and lease losses | 112,509 | 101,910 | 95,731 | |||||||||||||||||
Total non-interest income | 15,536 | 15,584 | 14,785 | 13,227 | 13,248 | 13,786 | 13,781 | 13,153 | 59,132 | 53,968 | 55,785 | |||||||||
Total non-interest expenses* | 31,056 | 28,184 | 28,495 | 26,660 | 25,087 | 25,371 | 26,220 | 24,996 | 114,395 | 101,674 | 125,590 | |||||||||
Income before income taxes | 13,724 | 15,505 | 14,338 | 13,679 | 14,092 | 13,720 | 13,743 | 12,649 | 57,246 | 54,204 | 25,926 | |||||||||
Income tax expense | 19,924 | 4,766 | 4,905 | 4,635 | 4,684 | 4,346 | 4,810 | 4,328 | 34,230 | 18,168 | 9,172 | |||||||||
Net Income | $ (6,200) | $ 10,739 | $ 9,433 | $ 9,044 | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ 23,016 | $ 36,036 | $ 16,754 | |||||||||
Weighted-average basic shares outstanding (in shares) | [1] | 17,150,125 | 16,859,623 | 17,488,325 | ||||||||||||||||
Dilutive shares (in shares) | 248,798 | 168,499 | 267,996 | |||||||||||||||||
Adjusted weighted-average diluted shares (in shares) | 17,398,923 | 17,028,122 | 17,756,321 | |||||||||||||||||
Basic earnings per common share (in dollars per share) | $ (0.35) | [2] | $ 0.63 | [2] | $ 0.56 | [2] | $ 0.53 | [2] | $ 0.56 | [2] | $ 0.56 | [2] | $ 0.53 | [2] | $ 0.49 | [2] | $ 1.34 | $ 2.14 | $ 0.96 | |
Diluted earnings per common share (in dollars per share) | $ (0.35) | [2] | $ 0.62 | [2] | $ 0.55 | [2] | $ 0.53 | [2] | $ 0.55 | [2] | $ 0.55 | [2] | $ 0.52 | [2] | $ 0.49 | [2] | $ 1.32 | $ 2.12 | $ 0.94 | |
Pro Forma [Member] | ||||||||||||||||||||
Total interest income | $ 169,677 | $ 155,798 | $ 143,926 | |||||||||||||||||
Total interest expense | 20,113 | 17,134 | 13,963 | |||||||||||||||||
Net interest income | 149,564 | 138,664 | 129,963 | |||||||||||||||||
Provision for loan and lease losses | 3,454 | 5,568 | 3,648 | |||||||||||||||||
Net interest income after provision for loan and lease losses | 146,110 | 133,069 | 126,315 | |||||||||||||||||
Total non-interest income | 61,423 | 58,275 | 58,898 | |||||||||||||||||
Total non-interest expenses* | [3] | 140,853 | 124,358 | 149,791 | ||||||||||||||||
Income before income taxes | 66,680 | 67,013 | 35,422 | |||||||||||||||||
Income tax expense | 39,871 | 22,461 | 12,531 | |||||||||||||||||
Net Income | $ 26,809 | $ 44,552 | $ 22,891 | |||||||||||||||||
Weighted-average basic shares outstanding (in shares) | [4] | 20,248,879 | 19,958,377 | 20,587,079 | ||||||||||||||||
Dilutive shares (in shares) | [4] | 257,591 | 168,499 | 267,996 | ||||||||||||||||
Adjusted weighted-average diluted shares (in shares) | [4] | 20,506,470 | 20,126,876 | 20,855,075 | ||||||||||||||||
Basic earnings per common share (in dollars per share) | [4] | $ 1.32 | $ 2.23 | $ 1.11 | ||||||||||||||||
Diluted earnings per common share (in dollars per share) | [4] | $ 1.31 | $ 2.21 | $ 1.10 | ||||||||||||||||
[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] | Total non-interest expense includes RBPI Net Income Attributable to Noncontrolling Interest and Preferred Stock Series A Accumulated Dividend and Accretion for pro-forma presentation. | |||||||||||||||||||
[4] | Assumes that the shares of RBPI common stock outstanding as of December 31, 2017 were outstanding for the full twelve month periods ended December 31, 2017, 2016, and 2015, respectively. |
Note 2 - Business Combination66
Note 2 - Business Combinations - Due Diligence, Merger-related and Merger Integration Costs (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Advertising | $ 180 | $ 162 | |
Employee Benefits | 21 | 258 | |
Furniture, fixtures, and equipment | 109 | 159 | |
Information technology | 837 | 1,168 | |
Professional fees | 3,160 | 2,471 | |
Salaries and wages | 1,285 | 1,868 | |
Other | 512 | 584 | |
Total due diligence, and merger-related and merger integration expenses | $ 6,104 | $ 6,670 |
Note 3 - Goodwill & Intangibl67
Note 3 - Goodwill & Intangible Assets (Details Textual) - USD ($) $ in Thousands | Oct. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill, Impairment Loss | $ 0 | ||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 0 | ||||
Amortization of Intangible Assets | $ 2,734 | $ 3,498 | $ 3,827 |
Note 3 - Goodwill & Intangibl68
Note 3 - Goodwill & Intangible Assets - Goodwill and Intangible Assets Related to Acquisitions (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Goodwill | $ 104,765 | $ 104,765 | ||
Intangible assets | 20,405 | 23,903 | ||
Grand Total | 125,170 | 128,668 | ||
Goodwill additions/adjustments | 75,124 | |||
Intangible assets additions/adjustments | 8,295 | |||
Grand total additions/adjustments | 83,419 | |||
Goodwill amortization | $ 0 | |||
Intangible asset amortization | (2,734) | (3,498) | $ (3,827) | |
Goodwill | 179,889 | 104,765 | 104,765 | |
Intangible assets | 25,966 | 20,405 | 23,903 | |
Grand Total | 205,855 | 125,170 | 128,668 | |
Trade Names [Member] | ||||
Indefinite-Lived Intangible Assets | 2,165 | 2,165 | ||
Indefinite-Lived Intangible Assets additions/adjustments | 195 | |||
Intangible asset amortization | (38) | |||
Indefinite-Lived Intangible Assets | 2,322 | 2,165 | 2,165 | |
Domain Name [Member] | ||||
Indefinite-Lived Intangible Assets | ||||
Indefinite-Lived Intangible Assets additions/adjustments | 151 | |||
Indefinite-Lived Intangible Assets | $ 151 | |||
Minimum [Member] | Trade Names [Member] | ||||
Intangible asset amortization period (Year) | 3 years | |||
Core Deposits [Member] | ||||
Finite-Lived Intangible Assets | $ 3,447 | 4,272 | ||
Finite-Lived Intangible Assets additions/adjustments | 4,670 | |||
Intangible asset amortization | (737) | (825) | ||
Finite-Lived Intangible Assets | $ 7,380 | $ 3,447 | 4,272 | |
Intangible asset amortization period (Year) | 10 years | 10 years | ||
Customer Relationships [Member] | ||||
Finite-Lived Intangible Assets | $ 13,056 | $ 14,384 | ||
Finite-Lived Intangible Assets additions/adjustments | 2,672 | |||
Intangible asset amortization | (1,555) | (1,328) | ||
Finite-Lived Intangible Assets | $ 14,173 | $ 13,056 | 14,384 | |
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] | ||||
Finite-Lived Intangible Assets | $ 1,634 | $ 2,932 | ||
Finite-Lived Intangible Assets additions/adjustments | 41 | |||
Intangible asset amortization | (356) | (1,298) | ||
Finite-Lived Intangible Assets | $ 1,319 | $ 1,634 | 2,932 | |
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 | ||
Off-Market Favorable Lease [Member] | ||||
Finite-Lived Intangible Assets | $ 103 | $ 150 | ||
Finite-Lived Intangible Assets additions/adjustments | 566 | |||
Intangible asset amortization | (48) | (47) | ||
Finite-Lived Intangible Assets | $ 621 | $ 103 | 150 | |
Off-Market Favorable Lease [Member] | Minimum [Member] | ||||
Intangible asset amortization period (Year) | 1 year | 1 year 150 days | ||
Off-Market Favorable Lease [Member] | Maximum [Member] | ||||
Intangible asset amortization period (Year) | 16 years | 6 years 90 days | ||
Wealth [Member] | ||||
Goodwill | $ 20,412 | $ 20,412 | ||
Goodwill additions/adjustments | ||||
Goodwill amortization | ||||
Intangible asset amortization | (1,951) | (2,626) | (2,655) | |
Goodwill | 20,412 | 20,412 | 20,412 | |
Banking [Member] | ||||
Goodwill | 80,783 | 80,783 | ||
Goodwill additions/adjustments | 72,762 | |||
Goodwill amortization | ||||
Intangible asset amortization | (783) | (872) | (1,172) | |
Goodwill | 153,545 | 80,783 | 80,783 | |
Insurance [Member] | ||||
Goodwill | 3,570 | 3,570 | ||
Goodwill additions/adjustments | 2,362 | |||
Goodwill amortization | ||||
Goodwill | $ 5,932 | $ 3,570 | $ 3,570 |
Note 3 - Goodwill & Intangibl69
Note 3 - Goodwill & Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 3,520 |
2,019 | 3,218 |
2,020 | 2,980 |
2,021 | 2,764 |
Thereafter | $ 11,167 |
Note 4 - Investment Securitie70
Note 4 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Available-for-sale Securities Pledged as Collateral | $ 126,200 | $ 119,400 | |
Proceeds from Sale and Maturity of Available-for-sale Securities | 130,900 | 276 | $ 64,900 |
Gain (Loss) on Sale of Investments | 101 | (77) | $ 931 |
Trading Securities | $ 4,610 | $ 3,888 |
Note 4 - Investment Securitie71
Note 4 - Investment Securities - Amortized Cost and Fair Value of Securities Available for Sale (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Securities available for sale, amortized cost | $ 692,824 | $ 568,890 |
Securities available for sale, gross unrealized gains | 1,316 | 1,669 |
Securities available for sale, gross unrealized losses | (4,938) | (3,563) |
Securities available for sale, fair value | 689,202 | 566,996 |
US Treasury Securities [Member] | ||
Securities available for sale, amortized cost | 200,077 | 200,094 |
Securities available for sale, gross unrealized gains | 11 | 3 |
Securities available for sale, gross unrealized losses | ||
Securities available for sale, fair value | 200,088 | 200,097 |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, amortized cost | 153,028 | 83,111 |
Securities available for sale, gross unrealized gains | 75 | 167 |
Securities available for sale, gross unrealized losses | (2,059) | (1,080) |
Securities available for sale, fair value | 151,044 | 82,198 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, amortized cost | 21,352 | 33,625 |
Securities available for sale, gross unrealized gains | 11 | 26 |
Securities available for sale, gross unrealized losses | (53) | (121) |
Securities available for sale, fair value | 21,310 | 33,530 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, amortized cost | 275,958 | 185,997 |
Securities available for sale, gross unrealized gains | 887 | 1,260 |
Securities available for sale, gross unrealized losses | (1,855) | (1,306) |
Securities available for sale, fair value | 274,990 | 185,951 |
Collateralized Mortgage Obligations [Member] | ||
Securities available for sale, amortized cost | 37,596 | 49,488 |
Securities available for sale, gross unrealized gains | 14 | 108 |
Securities available for sale, gross unrealized losses | (948) | (902) |
Securities available for sale, fair value | 36,662 | 48,694 |
Other Debt Obligations [Member] | ||
Securities available for sale, amortized cost | 4,813 | 16,575 |
Securities available for sale, gross unrealized gains | 318 | 105 |
Securities available for sale, gross unrealized losses | (23) | (154) |
Securities available for sale, fair value | $ 5,108 | $ 16,526 |
Note 4 - Investment Securitie72
Note 4 - Investment Securities - Securities Available for Sale in an Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Securities available for sale, less than 12 months, fair value | $ 310,154 | $ 226,288 |
Securities available for sale, less than 12 months, unrealized losses | (2,686) | (3,502) |
Securities available for sale, 12 months or longer, fair value | 87,908 | 11,895 |
Securities available for sale, 12 months or longer, unrealized losses | (2,252) | (61) |
Securities available for sale, fair value | 398,062 | 238,183 |
Securities available for sale, unrealized losses | (4,938) | (3,563) |
US Government Agencies Debt Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 114,120 | 62,211 |
Securities available for sale, less than 12 months, unrealized losses | (1,294) | (1,080) |
Securities available for sale, 12 months or longer, fair value | 26,726 | |
Securities available for sale, 12 months or longer, unrealized losses | (765) | |
Securities available for sale, fair value | 140,846 | 62,211 |
Securities available for sale, unrealized losses | (2,059) | (1,080) |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 11,144 | 24,482 |
Securities available for sale, less than 12 months, unrealized losses | (29) | (121) |
Securities available for sale, 12 months or longer, fair value | 2,709 | |
Securities available for sale, 12 months or longer, unrealized losses | (24) | |
Securities available for sale, fair value | 13,853 | 24,482 |
Securities available for sale, unrealized losses | (53) | (121) |
Collateralized Mortgage Backed Securities [Member] | ||
Securities available for sale, less than 12 months, fair value | 177,919 | 101,433 |
Securities available for sale, less than 12 months, unrealized losses | (1,293) | (1,306) |
Securities available for sale, 12 months or longer, fair value | 31,787 | |
Securities available for sale, 12 months or longer, unrealized losses | (562) | |
Securities available for sale, fair value | 209,706 | 101,433 |
Securities available for sale, unrealized losses | (1,855) | (1,306) |
Collateralized Mortgage Obligations [Member] | ||
Securities available for sale, less than 12 months, fair value | 5,166 | 35,959 |
Securities available for sale, less than 12 months, unrealized losses | (47) | (902) |
Securities available for sale, 12 months or longer, fair value | 26,686 | |
Securities available for sale, 12 months or longer, unrealized losses | (901) | |
Securities available for sale, fair value | 31,852 | 35,959 |
Securities available for sale, unrealized losses | (948) | (902) |
Other Debt Obligations [Member] | ||
Securities available for sale, less than 12 months, fair value | 1,805 | 2,203 |
Securities available for sale, less than 12 months, unrealized losses | (23) | (93) |
Securities available for sale, 12 months or longer, fair value | 11,895 | |
Securities available for sale, 12 months or longer, unrealized losses | (61) | |
Securities available for sale, fair value | 1,805 | 14,098 |
Securities available for sale, unrealized losses | $ (23) | $ (154) |
Note 4 - Investment Securitie73
Note 4 - Investment Securities - Securities Available for Sale Classified by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Due in one year or less, amortized cost | $ 211,019 | $ 213,876 | |
Due in one year or less, fair value | 211,019 | 213,885 | |
Due after one year through five years, amortized cost | 126,452 | 40,335 | |
Due after one year through five years, fair value | 124,797 | 40,270 | |
Due after five years through ten years, amortized cost | 23,147 | 45,840 | |
Due after five years through ten years, fair value | 22,804 | 44,914 | |
Due after ten years, amortized cost | 15,439 | 18,079 | |
Due after ten years, fair value | 15,421 | 18,055 | |
Subtotal, amortized cost | 376,057 | 318,130 | |
Subtotal, fair value | 374,041 | 317,124 | |
Total, amortized cost | 692,824 | 568,890 | |
Total, fair value | 689,202 | 566,996 | |
Mortgage-related Securities [Member] | |||
Securities with no stated maturity, amortized cost | [1] | 313,554 | 235,485 |
Securities with no stated maturity, fair value | 311,652 | 234,644 | |
Mutual Funds [Member] | |||
Securities with no stated maturity, amortized cost | 3,213 | 15,275 | |
Securities with no stated maturity, fair value | $ 3,509 | $ 15,228 | |
[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 4 - Investment Securitie74
Note 4 - Investment Securities - Amortized Cost and Fair Value of Securities Held to Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Held to maturity securities, amortized cost | $ 7,932 | $ 2,879 |
Held to maturity securities, gross unrealized gains | 5 | |
Held to maturity securities, gross unrealized losses | (86) | (61) |
Held to maturity securities, fair value | 7,851 | 2,818 |
Collateralized Mortgage Backed Securities [Member] | ||
Held to maturity securities, amortized cost | 7,932 | 2,879 |
Held to maturity securities, gross unrealized gains | 5 | |
Held to maturity securities, gross unrealized losses | (86) | (61) |
Held to maturity securities, fair value | $ 7,851 | $ 2,818 |
Note 4 - Investment Securitie75
Note 4 - Investment Securities - Securities Held to Maturity in an Unrealized Loss Position (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Held to maturity securities, less than 12 months, fair value | $ 2,756 | $ 2,818 |
Held to maturity securities, less than 12 months, unrealized losses | (25) | (61) |
Held to maturity securities, 12 months or longer, fair value | 3,866 | |
Held to maturity securities, 12 months or longer, unrealized losses | (61) | |
Held to maturity securities, fair value | 6,622 | 2,818 |
Held to maturity securities, unrealized losses | (86) | (61) |
Collateralized Mortgage Backed Securities [Member] | ||
Held to maturity securities, less than 12 months, fair value | 2,756 | 2,818 |
Held to maturity securities, less than 12 months, unrealized losses | (25) | (61) |
Held to maturity securities, 12 months or longer, fair value | 3,866 | |
Held to maturity securities, 12 months or longer, unrealized losses | (61) | |
Held to maturity securities, fair value | 6,622 | 2,818 |
Held to maturity securities, unrealized losses | $ (86) | $ (61) |
Note 4 - Investment Securitie76
Note 4 - Investment Securities - Securities Held to Maturity Classified by Contractual Maturity (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Held to maturity securities, amortized cost | $ 7,932 | $ 2,879 | |
Held to maturity securities, fair value | 7,851 | 2,818 | |
Collateralized Mortgage Backed Securities [Member] | |||
Held to maturity securities, amortized cost | [1] | 7,932 | 2,879 |
Held to maturity securities, fair value | [1] | $ 7,851 | $ 2,818 |
[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) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |||||
Loans and Leases Receivable, Purchased Credit Impaired became Non-Performing Subsequent to Acquisition | $ 167 | $ 344 | |||||
Purchased Credit Impaired Loans Without Estimate of Expected Cash Flows Recorded Investment | 1,900 | 368 | |||||
Financing Receivable, Recorded Investment, Current | [1] | 3,269,320 | 2,524,036 | ||||
Impaired Financing Receivable, Recorded Investment | [2] | 13,940 | [3] | 14,174 | [4] | $ 14,386 | [5] |
Commercial Portfolio Segment [Member] | |||||||
Financing Receivable, Recorded Investment, Current | [1] | $ 716,662 | 576,798 | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ||||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 63 | ||||||
Finance Leases Portfolio Segment [Member] | |||||||
Financing Receivable, Recorded Investment, Current | [1] | 114,996 | 55,492 | ||||
Impaired Financing Receivable, Recorded Investment | 272 | 240 | $ 77 | ||||
Administratively Delinquent [Member] | |||||||
Financing Receivable, Recorded Investment, Current | 4,100 | 15,300 | |||||
Acquired Loans [Member] | |||||||
Loans and Leases Receivable, Purchased Credit Impaired became Non-Performing Subsequent to Acquisition | 167 | 344 | |||||
Financing Receivable, Recorded Investment, Current | [1] | 788,850 | 290,064 | ||||
Acquired Loans [Member] | Commercial Portfolio Segment [Member] | |||||||
Financing Receivable, Recorded Investment, Current | [1] | 128,859 | 27,405 | ||||
Acquired Loans [Member] | Finance Leases Portfolio Segment [Member] | |||||||
Financing Receivable, Recorded Investment, Current | [1] | 47,366 | |||||
Acquired Loans [Member] | Administratively Delinquent [Member] | |||||||
Financing Receivable, Recorded Investment, Current | 102 | 1,800 | |||||
Originated Loans [Member] | |||||||
Financing Receivable, Recorded Investment, Current | [1] | 2,480,470 | 2,233,972 | ||||
Originated Loans [Member] | Commercial Portfolio Segment [Member] | |||||||
Financing Receivable, Recorded Investment, Current | [1] | 587,803 | 549,393 | ||||
Originated Loans [Member] | Finance Leases Portfolio Segment [Member] | |||||||
Financing Receivable, Recorded Investment, Current | [1] | 67,630 | 55,492 | ||||
Originated Loans [Member] | Administratively Delinquent [Member] | |||||||
Financing Receivable, Recorded Investment, Current | $ 4,000 | $ 13,500 | |||||
[1] | Included as "current" are $4.1 million and $15.3 million of loans and leases as of December 31, 2017 and 2016, respectively, which are classified as Administratively Delinquent. An Administratively Delinquent loan is one which has been approved for a renewal or extension but has not had all the required documents fully executed as of the reporting date. The Corporation does not consider these loans to be delinquent. | ||||||
[2] | Recorded investment equals principal balance less partial charge-offs and interest payments on non-performing loans that have been applied to principal. | ||||||
[3] | The table above does not include the recorded investment of $272 thousand of impaired leases without a related allowance for loan and lease losses. | ||||||
[4] | The table above does not include the recorded investment of $240 thousand of impaired leases without a related allowance for loan and lease losses. | ||||||
[5] | The table above does not include the recorded investment of $77 thousand of impaired leases without a related allowance for loan and lease losses. |
Note 5 - Loans and Leases - Por
Note 5 - Loans and Leases - Portfolio Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Loans held for sale | $ 3,794 | $ 9,621 |
Portfolio loans and leases | 3,285,858 | 2,535,425 |
Total loans and leases | 3,289,652 | 2,545,046 |
Loans with fixed rates | 1,573,052 | 1,130,172 |
Loans with adjustable or floating rates | 1,716,600 | 1,414,874 |
Total loans and leases | 3,289,652 | 2,545,046 |
Net deferred loan origination fees included in the above loan table | (887) | (735) |
Real Estate Portfolio Segment [Member] | ||
Portfolio loans and leases | 2,412,992 | 1,874,401 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | ||
Portfolio loans and leases | 1,523,377 | 1,110,898 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Portfolio loans and leases | 218,275 | 207,999 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Portfolio loans and leases | 458,886 | 413,540 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Portfolio loans and leases | 212,454 | 141,964 |
Commercial Portfolio Segment [Member] | ||
Portfolio loans and leases | 719,312 | 579,791 |
Consumer Portfolio Segment [Member] | ||
Portfolio loans and leases | 38,153 | 25,341 |
Finance Leases Portfolio Segment [Member] | ||
Portfolio loans and leases | 115,401 | 55,892 |
Originated Loans [Member] | ||
Loans held for sale | 3,794 | 9,621 |
Portfolio loans and leases | 2,487,296 | 2,240,987 |
Total loans and leases | 2,491,090 | 2,250,608 |
Loans with fixed rates | 1,034,542 | 992,917 |
Loans with adjustable or floating rates | 1,456,548 | 1,257,691 |
Total loans and leases | 2,491,090 | 2,250,608 |
Net deferred loan origination fees included in the above loan table | (887) | (735) |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | ||
Portfolio loans and leases | 1,794,811 | 1,609,561 |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | ||
Portfolio loans and leases | 1,122,327 | 946,879 |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Portfolio loans and leases | 183,283 | 178,450 |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Portfolio loans and leases | 360,935 | 342,268 |
Originated Loans [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Portfolio loans and leases | 128,266 | 141,964 |
Originated Loans [Member] | Commercial Portfolio Segment [Member] | ||
Portfolio loans and leases | 589,304 | 550,334 |
Originated Loans [Member] | Consumer Portfolio Segment [Member] | ||
Portfolio loans and leases | 35,146 | 25,200 |
Originated Loans [Member] | Finance Leases Portfolio Segment [Member] | ||
Portfolio loans and leases | 68,035 | 55,892 |
Acquired Loans [Member] | ||
Portfolio loans and leases | 798,562 | 294,438 |
Total loans and leases | 798,562 | 294,438 |
Loans with fixed rates | 538,510 | 137,255 |
Loans with adjustable or floating rates | 260,052 | 157,183 |
Total loans and leases | 798,562 | 294,438 |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | ||
Portfolio loans and leases | 618,181 | 264,840 |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | ||
Portfolio loans and leases | 401,050 | 164,019 |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Portfolio loans and leases | 34,992 | 29,549 |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Portfolio loans and leases | 97,951 | 71,272 |
Acquired Loans [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Portfolio loans and leases | 84,188 | |
Acquired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Portfolio loans and leases | 130,008 | 29,457 |
Acquired Loans [Member] | Consumer Portfolio Segment [Member] | ||
Portfolio loans and leases | 3,007 | 141 |
Acquired Loans [Member] | Finance Leases Portfolio Segment [Member] | ||
Portfolio loans and leases | $ 47,366 |
Note 5 - Loans and Leases - Net
Note 5 - Loans and Leases - Net Investments in Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Minimum lease payments receivable | $ 130,811 | $ 62,379 |
Unearned lease income | (19,861) | (8,608) |
Initial direct costs and deferred fees | 4,451 | 2,121 |
Total leases | 115,401 | 55,892 |
Originated Loans [Member] | ||
Minimum lease payments receivable | 75,592 | 62,379 |
Unearned lease income | (10,338) | (8,608) |
Initial direct costs and deferred fees | 2,781 | 2,121 |
Total leases | 68,035 | 55,892 |
Acquired Loans [Member] | ||
Minimum lease payments receivable | 55,219 | |
Unearned lease income | (9,523) | |
Initial direct costs and deferred fees | 1,670 | |
Total leases | $ 47,366 |
Note 5 - Loans and Leases - Non
Note 5 - Loans and Leases - Non-performing Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Non-accrual loans and leases | [1] | $ 8,579 | $ 8,363 |
Originated Loans [Member] | |||
Non-accrual loans and leases | 3,745 | 5,168 | |
Acquired Loans [Member] | |||
Non-accrual loans and leases | [1] | 4,834 | 3,195 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Non-accrual loans and leases | [1] | 872 | 320 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 90 | 265 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | [1] | 782 | 55 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Non-accrual loans and leases | [1] | 1,481 | 2,289 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 1,221 | 2,169 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | [1] | 260 | 120 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Non-accrual loans and leases | [1] | 4,417 | 2,658 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 1,505 | 1,654 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | [1] | 2,912 | 1,004 |
Commercial Portfolio Segment [Member] | |||
Non-accrual loans and leases | [1] | 1,706 | 2,957 |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 826 | 941 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | [1] | 880 | 2,016 |
Consumer Portfolio Segment [Member] | |||
Non-accrual loans and leases | [1] | 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 | [1] | 103 | 137 |
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Non-accrual loans and leases | 103 | $ 137 | |
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Non-accrual loans and leases | |||
[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 $167 thousand and $344 thousand of purchased credit-impaired loans as of December 31, 2017 and December 31, 2016, respectively, which became non-performing subsequent to acquisition. |
Note 5 - Loans and Leases - Pur
Note 5 - Loans and Leases - Purchased Credit-Impaired Loans (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding principal balance | $ 46,543 | $ 18,091 | |
Carrying amount | [1] | $ 30,849 | $ 12,432 |
[1] | Includes $1.9 million and $368 thousand of purchased credit-impaired loans as of December 31, 2017 and December 31, 2016, 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 $167 thousand and $344 thousand of purchased credit-impaired loans as of December 31, 2017 and December 31, 2016, 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 - Acc
Note 5 - Loans and Leases - Accretable Discount on Purchased Credit-impaired Loans (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Balance | $ 3,233 |
Accretion | (1,934) |
Reclassifications from nonaccretable difference | |
Additions/adjustments | 2,784 |
Disposals | |
Balance | $ 4,083 |
Note 5 - Loans and Leases - Pas
Note 5 - Loans and Leases - Past Due Loans and Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Loans and leases, past due | $ 7,959 | $ 3,026 | |
Loans and leases, current | [1] | 3,269,320 | 2,524,036 |
Loans and leases, accruing | 3,277,279 | 2,527,062 | |
Non-accrual loans and leases | [2] | 8,579 | 8,363 |
Portfolio loans and leases | 3,285,858 | 2,535,425 | |
Originated Loans [Member] | |||
Loans and leases, past due | 3,081 | 1,848 | |
Loans and leases, current | [1] | 2,480,470 | 2,233,972 |
Loans and leases, accruing | 2,483,551 | 2,235,820 | |
Non-accrual loans and leases | 3,745 | 5,168 | |
Portfolio loans and leases | 2,487,296 | 2,240,987 | |
Acquired Loans [Member] | |||
Loans and leases, past due | 4,878 | 1,178 | |
Loans and leases, current | [1] | 788,850 | 290,064 |
Loans and leases, accruing | 793,728 | 291,242 | |
Non-accrual loans and leases | [2] | 4,834 | 3,195 |
Portfolio loans and leases | 798,562 | 294,438 | |
Real Estate Portfolio Segment [Member] | |||
Portfolio loans and leases | 2,412,992 | 1,874,401 | |
Real Estate Portfolio Segment [Member] | Originated Loans [Member] | |||
Portfolio loans and leases | 1,794,811 | 1,609,561 | |
Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | |||
Portfolio loans and leases | 618,181 | 264,840 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Loans and leases, past due | 3,794 | 1,388 | |
Loans and leases, current | [1] | 1,518,711 | 1,109,190 |
Loans and leases, accruing | 1,522,505 | 1,110,578 | |
Non-accrual loans and leases | [2] | 872 | 320 |
Portfolio loans and leases | 1,523,377 | 1,110,898 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 1,336 | 722 | |
Loans and leases, current | [1] | 1,120,901 | 945,892 |
Loans and leases, accruing | 1,122,237 | 946,614 | |
Non-accrual loans and leases | 90 | 265 | |
Portfolio loans and leases | 1,122,327 | 946,879 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 2,458 | 666 | |
Loans and leases, current | [1] | 397,810 | 163,298 |
Loans and leases, accruing | 400,268 | 163,964 | |
Non-accrual loans and leases | [2] | 782 | 55 |
Portfolio loans and leases | 401,050 | 164,019 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Loans and leases, past due | 348 | 11 | |
Loans and leases, current | [1] | 216,446 | 205,699 |
Loans and leases, accruing | 216,794 | 205,710 | |
Non-accrual loans and leases | [2] | 1,481 | 2,289 |
Portfolio loans and leases | 218,275 | 207,999 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 26 | 11 | |
Loans and leases, current | [1] | 182,036 | 176,270 |
Loans and leases, accruing | 182,062 | 176,281 | |
Non-accrual loans and leases | 1,221 | 2,169 | |
Portfolio loans and leases | 183,283 | 178,450 | |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 322 | ||
Loans and leases, current | [1] | 34,410 | 29,429 |
Loans and leases, accruing | 34,732 | 29,429 | |
Non-accrual loans and leases | [2] | 260 | 120 |
Portfolio loans and leases | 34,992 | 29,549 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Loans and leases, past due | 1,465 | 1,313 | |
Loans and leases, current | [1] | 453,004 | 409,569 |
Loans and leases, accruing | 454,469 | 410,882 | |
Non-accrual loans and leases | [2] | 4,417 | 2,658 |
Portfolio loans and leases | 458,886 | 413,540 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 721 | 837 | |
Loans and leases, current | [1] | 358,709 | 339,778 |
Loans and leases, accruing | 359,430 | 340,615 | |
Non-accrual loans and leases | 1,505 | 1,654 | |
Portfolio loans and leases | 360,935 | 342,268 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 744 | 476 | |
Loans and leases, current | [1] | 94,295 | 69,791 |
Loans and leases, accruing | 95,039 | 70,267 | |
Non-accrual loans and leases | [2] | 2,912 | 1,004 |
Portfolio loans and leases | 97,951 | 71,272 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans and leases, past due | |||
Loans and leases, current | [1] | 212,454 | 141,964 |
Loans and leases, accruing | 212,454 | 141,964 | |
Non-accrual loans and leases | |||
Portfolio loans and leases | 212,454 | 141,964 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Loans and leases, current | [1] | 128,266 | 141,964 |
Loans and leases, accruing | 128,266 | 141,964 | |
Non-accrual loans and leases | |||
Portfolio loans and leases | 128,266 | 141,964 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Loans and leases, current | [1] | 84,188 | |
Loans and leases, accruing | 84,188 | ||
Non-accrual loans and leases | |||
Portfolio loans and leases | 84,188 | ||
Commercial Portfolio Segment [Member] | |||
Loans and leases, past due | 944 | 36 | |
Loans and leases, current | [1] | 716,662 | 576,798 |
Loans and leases, accruing | 717,606 | 576,834 | |
Non-accrual loans and leases | [2] | 1,706 | 2,957 |
Portfolio loans and leases | 719,312 | 579,791 | |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 675 | ||
Loans and leases, current | [1] | 587,803 | 549,393 |
Loans and leases, accruing | 588,478 | 549,393 | |
Non-accrual loans and leases | 826 | 941 | |
Portfolio loans and leases | 589,304 | 550,334 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 269 | 36 | |
Loans and leases, current | [1] | 128,859 | 27,405 |
Loans and leases, accruing | 129,128 | 27,441 | |
Non-accrual loans and leases | [2] | 880 | 2,016 |
Portfolio loans and leases | 130,008 | 29,457 | |
Consumer Portfolio Segment [Member] | |||
Loans and leases, past due | 1,106 | 15 | |
Loans and leases, current | [1] | 37,047 | 25,324 |
Loans and leases, accruing | 38,153 | 25,339 | |
Non-accrual loans and leases | [2] | 2 | |
Portfolio loans and leases | 38,153 | 25,341 | |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 21 | 15 | |
Loans and leases, current | [1] | 35,125 | 25,183 |
Loans and leases, accruing | 35,146 | 25,198 | |
Non-accrual loans and leases | 2 | ||
Portfolio loans and leases | 35,146 | 25,200 | |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 1,085 | ||
Loans and leases, current | [1] | 1,922 | 141 |
Loans and leases, accruing | 3,007 | 141 | |
Non-accrual loans and leases | |||
Portfolio loans and leases | 3,007 | 141 | |
Finance Leases Portfolio Segment [Member] | |||
Loans and leases, past due | 302 | 263 | |
Loans and leases, current | [1] | 114,996 | 55,492 |
Loans and leases, accruing | 115,298 | 55,755 | |
Non-accrual loans and leases | [2] | 103 | 137 |
Portfolio loans and leases | 115,401 | 55,892 | |
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 302 | 263 | |
Loans and leases, current | [1] | 67,630 | 55,492 |
Loans and leases, accruing | 67,932 | 55,755 | |
Non-accrual loans and leases | 103 | 137 | |
Portfolio loans and leases | 68,035 | 55,892 | |
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Loans and leases, current | [1] | 47,366 | |
Loans and leases, accruing | 47,366 | ||
Non-accrual loans and leases | |||
Portfolio loans and leases | 47,366 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Loans and leases, past due | 4,979 | 1,723 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 2,587 | 971 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 2,392 | 752 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Loans and leases, past due | 1,366 | 666 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 1,255 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 111 | 666 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Loans and leases, past due | 338 | 11 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 26 | 11 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 312 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Loans and leases, past due | 1,386 | 823 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 721 | 773 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 665 | 50 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Loans and leases, past due | 658 | 36 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 439 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 219 | 36 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Loans and leases, past due | 1,106 | 10 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 21 | 10 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 1,085 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | |||
Loans and leases, past due | 125 | 177 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 125 | 177 | |
Financing Receivables, 30 to 59 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Loans and leases, past due | 2,980 | 1,303 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 494 | 877 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 2,486 | 426 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Loans and leases, past due | 2,428 | 722 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 81 | 722 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 2,347 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Loans and leases, past due | 10 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 10 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Loans and leases, past due | 79 | 490 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 64 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 79 | 426 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Loans and leases, past due | 286 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 236 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | 50 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Loans and leases, past due | 5 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 5 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, 60 to 89 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | |||
Loans and leases, past due | 177 | 86 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | 177 | 86 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||
Loans and leases, 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] | |||
Loans and leases, 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] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||
Loans and leases, 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] | |||
Loans and leases, 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] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | |||
Loans and leases, past due | |||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | |||
Loans and leases, past due | |||
[1] | Included as "current" are $4.1 million and $15.3 million of loans and leases as of December 31, 2017 and 2016, respectively, which are classified as Administratively Delinquent. An Administratively Delinquent loan is one which has been approved for a renewal or extension but has not had all the required documents fully executed as of the reporting date. The Corporation does not consider these loans to be delinquent. | ||
[2] | 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 $167 thousand and $344 thousand of purchased credit-impaired loans as of December 31, 2017 and December 31, 2016, respectively, which became non-performing subsequent to acquisition. |
Note 5 - Loans and Leases - All
Note 5 - Loans and Leases - Allowance for Loan and Leases Losses Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 17,486 | $ 15,857 | $ 17,486 | $ 15,857 | |||||||
Charge-offs | (3,126) | (3,287) | |||||||||
Recoveries | 547 | 590 | |||||||||
Provision for loan and lease losses | $ 1,077 | $ 1,333 | $ (83) | 291 | $ 1,059 | $ 1,412 | $ 445 | 1,410 | 2,618 | 4,326 | $ 4,396 |
Balance | 17,525 | 17,486 | 17,525 | 17,486 | 15,857 | ||||||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||||||||||
Balance | 6,227 | 5,199 | 6,227 | 5,199 | |||||||
Charge-offs | (55) | (110) | |||||||||
Recoveries | 12 | 62 | |||||||||
Provision for loan and lease losses | 1,366 | 1,076 | |||||||||
Balance | 7,550 | 6,227 | 7,550 | 6,227 | 5,199 | ||||||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||||||||||
Balance | 1,255 | 1,307 | 1,255 | 1,307 | |||||||
Charge-offs | (675) | (592) | |||||||||
Recoveries | 5 | 68 | |||||||||
Provision for loan and lease losses | 501 | 472 | |||||||||
Balance | 1,086 | 1,255 | 1,086 | 1,255 | 1,307 | ||||||
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||||||||||
Balance | 1,917 | 1,740 | 1,917 | 1,740 | |||||||
Charge-offs | (326) | (306) | |||||||||
Recoveries | 165 | 48 | |||||||||
Provision for loan and lease losses | 170 | 435 | |||||||||
Balance | 1,926 | 1,917 | 1,926 | 1,917 | 1,740 | ||||||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||||||||
Balance | 2,233 | 1,324 | 2,233 | 1,324 | |||||||
Charge-offs | |||||||||||
Recoveries | 4 | 64 | |||||||||
Provision for loan and lease losses | (1,300) | 845 | |||||||||
Balance | 937 | 2,233 | 937 | 2,233 | 1,324 | ||||||
Commercial Portfolio Segment [Member] | |||||||||||
Balance | 5,142 | 5,609 | 5,142 | 5,609 | |||||||
Charge-offs | (692) | (1,298) | |||||||||
Recoveries | 25 | 93 | |||||||||
Provision for loan and lease losses | 563 | 738 | |||||||||
Balance | 5,038 | 5,142 | 5,038 | 5,142 | 5,609 | ||||||
Consumer Portfolio Segment [Member] | |||||||||||
Balance | 153 | 142 | 153 | 142 | |||||||
Charge-offs | (154) | (173) | |||||||||
Recoveries | 8 | 23 | |||||||||
Provision for loan and lease losses | 239 | 161 | |||||||||
Balance | 246 | 153 | 246 | 153 | 142 | ||||||
Finance Leases Portfolio Segment [Member] | |||||||||||
Balance | 559 | 518 | 559 | 518 | |||||||
Charge-offs | (1,224) | (808) | |||||||||
Recoveries | 328 | 232 | |||||||||
Provision for loan and lease losses | 1,079 | 617 | |||||||||
Balance | 742 | 559 | 742 | 559 | 518 | ||||||
Unallocated Financing Receivables [Member] | |||||||||||
Balance | $ 18 | 18 | |||||||||
Charge-offs | |||||||||||
Recoveries | |||||||||||
Provision for loan and lease losses | (18) | ||||||||||
Balance | $ 18 |
Note 5 - Loans and Leases - A85
Note 5 - Loans and Leases - Allowance for Loan and Lease Losses by Method of Impairment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Individually evaluated for impairment | $ 258 | $ 86 | ||
Collectively evaluated for impairment | 17,267 | 17,400 | ||
Allowance on loans and leases | 17,525 | 17,486 | $ 15,857 | |
Individually evaluated for impairment | 13,940 | 14,173 | ||
Collectively evaluated for impairment | 3,241,069 | 2,508,820 | ||
Purchased credit-impaired(1) | [1] | 30,849 | 12,432 | |
Total portfolio loans and leases | 3,285,858 | 2,535,425 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Originated Loans [Member] | ||||
Individually evaluated for impairment | 208 | 58 | ||
Collectively evaluated for impairment | 17,267 | 17,400 | ||
Allowance on loans and leases | 17,475 | 17,458 | ||
Individually evaluated for impairment | 8,878 | 9,172 | ||
Collectively evaluated for impairment | 2,478,418 | 2,231,815 | ||
Total portfolio loans and leases | 2,487,296 | 2,240,987 | ||
Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Acquired Loans [Member] | ||||
Individually evaluated for impairment | 50 | 28 | ||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | 50 | 28 | ||
Individually evaluated for impairment | 5,062 | 5,001 | ||
Collectively evaluated for impairment | 762,651 | 277,005 | ||
Purchased credit-impaired(1) | [1] | 30,849 | 12,432 | |
Total portfolio loans and leases | 798,562 | 294,438 | ||
Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Real Estate Portfolio Segment [Member] | ||||
Total portfolio loans and leases | 2,412,992 | 1,874,401 | ||
Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||||
Total portfolio loans and leases | 1,794,811 | 1,609,561 | ||
Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||||
Total portfolio loans and leases | 618,181 | 264,840 | ||
Commercial Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 5 | 5 | ||
Collectively evaluated for impairment | 5,033 | 5,137 | ||
Allowance on loans and leases | 5,038 | 5,142 | 5,609 | |
Individually evaluated for impairment | 1,897 | 2,946 | ||
Collectively evaluated for impairment | 712,865 | 575,055 | ||
Purchased credit-impaired(1) | [1] | 4,550 | 1,790 | |
Total portfolio loans and leases | 719,312 | 579,791 | ||
Commercial Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Commercial Portfolio Segment [Member] | Originated Loans [Member] | ||||
Individually evaluated for impairment | 5 | 5 | ||
Collectively evaluated for impairment | 5,033 | 5,137 | ||
Allowance on loans and leases | 5,038 | 5,142 | ||
Individually evaluated for impairment | 1,186 | 1,190 | ||
Collectively evaluated for impairment | 588,118 | 549,144 | ||
Total portfolio loans and leases | 589,304 | 550,334 | ||
Commercial Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | ||||
Individually evaluated for impairment | 711 | 1,756 | ||
Collectively evaluated for impairment | 124,747 | 25,911 | ||
Purchased credit-impaired(1) | [1] | 4,550 | 1,790 | |
Total portfolio loans and leases | 130,008 | 29,457 | ||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Consumer Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 4 | 8 | ||
Collectively evaluated for impairment | 242 | 145 | ||
Allowance on loans and leases | 246 | 153 | 142 | |
Individually evaluated for impairment | 27 | 31 | ||
Collectively evaluated for impairment | 38,126 | 25,310 | ||
Purchased credit-impaired(1) | [1] | |||
Total portfolio loans and leases | 38,153 | 25,341 | ||
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Consumer Portfolio Segment [Member] | Originated Loans [Member] | ||||
Individually evaluated for impairment | 4 | 8 | ||
Collectively evaluated for impairment | 242 | 145 | ||
Allowance on loans and leases | 246 | 153 | ||
Individually evaluated for impairment | 27 | 31 | ||
Collectively evaluated for impairment | 35,119 | 25,169 | ||
Total portfolio loans and leases | 35,146 | 25,200 | ||
Consumer Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 3,007 | 141 | ||
Purchased credit-impaired(1) | [1] | |||
Total portfolio loans and leases | 3,007 | 141 | ||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Finance Leases Portfolio Segment [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 742 | 559 | ||
Allowance on loans and leases | 742 | 559 | 518 | |
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 115,401 | 55,892 | ||
Purchased credit-impaired(1) | [1] | |||
Total portfolio loans and leases | 115,401 | 55,892 | ||
Finance Leases Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 742 | 559 | ||
Allowance on loans and leases | 742 | 559 | ||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 68,035 | 55,892 | ||
Total portfolio loans and leases | 68,035 | 55,892 | ||
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 47,366 | |||
Purchased credit-impaired(1) | [1] | |||
Total portfolio loans and leases | 47,366 | |||
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Unallocated Financing Receivables [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | 18 | |||
Unallocated Financing Receivables [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Unallocated Financing Receivables [Member] | Originated Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | ||||
Unallocated Financing Receivables [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Commercial Mortgage [Member] | Real Estate Portfolio Segment [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 7,550 | 6,227 | ||
Allowance on loans and leases | 7,550 | 6,227 | 5,199 | |
Individually evaluated for impairment | 2,128 | 1,576 | ||
Collectively evaluated for impairment | 1,503,825 | 1,098,788 | ||
Purchased credit-impaired(1) | [1] | 17,424 | 10,534 | |
Total portfolio loans and leases | 1,523,377 | 1,110,898 | ||
Commercial Mortgage [Member] | Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Commercial Mortgage [Member] | Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 7,550 | 6,227 | ||
Allowance on loans and leases | 7,550 | 6,227 | ||
Individually evaluated for impairment | 1,345 | 1,521 | ||
Collectively evaluated for impairment | 1,120,982 | 945,358 | ||
Total portfolio loans and leases | 1,122,327 | 946,879 | ||
Commercial Mortgage [Member] | Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Commercial Mortgage [Member] | Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | ||||
Individually evaluated for impairment | 783 | 55 | ||
Collectively evaluated for impairment | 382,843 | 153,430 | ||
Purchased credit-impaired(1) | [1] | 17,424 | 10,534 | |
Total portfolio loans and leases | 401,050 | 164,019 | ||
Commercial Mortgage [Member] | Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Home Equity Loan [Member] | Real Estate Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 19 | |||
Collectively evaluated for impairment | 1,067 | 1,255 | ||
Allowance on loans and leases | 1,086 | 1,255 | 1,307 | |
Individually evaluated for impairment | 2,162 | 2,354 | ||
Collectively evaluated for impairment | 215,604 | 205,540 | ||
Purchased credit-impaired(1) | [1] | 509 | 105 | |
Total portfolio loans and leases | 218,275 | 207,999 | ||
Home Equity Loan [Member] | Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Home Equity Loan [Member] | Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||||
Individually evaluated for impairment | 19 | |||
Collectively evaluated for impairment | 1,067 | 1,255 | ||
Allowance on loans and leases | 1,086 | 1,255 | ||
Individually evaluated for impairment | 1,902 | 2,319 | ||
Collectively evaluated for impairment | 181,381 | 176,131 | ||
Total portfolio loans and leases | 183,283 | 178,450 | ||
Home Equity Loan [Member] | Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Home Equity Loan [Member] | Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | ||||
Individually evaluated for impairment | 260 | 35 | ||
Collectively evaluated for impairment | 34,223 | 29,409 | ||
Purchased credit-impaired(1) | [1] | 509 | 105 | |
Total portfolio loans and leases | 34,992 | 29,549 | ||
Home Equity Loan [Member] | Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Residential Mortgage Loan [Member] | Real Estate Portfolio Segment [Member] | ||||
Individually evaluated for impairment | 230 | 73 | ||
Collectively evaluated for impairment | 1,696 | 1,844 | ||
Allowance on loans and leases | 1,926 | 1,917 | 1,740 | |
Individually evaluated for impairment | 7,726 | 7,266 | ||
Collectively evaluated for impairment | 451,160 | 406,271 | ||
Purchased credit-impaired(1) | [1] | 3 | ||
Total portfolio loans and leases | 458,886 | 413,540 | ||
Residential Mortgage Loan [Member] | Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Residential Mortgage Loan [Member] | Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||||
Individually evaluated for impairment | 180 | 45 | ||
Collectively evaluated for impairment | 1,696 | 1,844 | ||
Allowance on loans and leases | 1,876 | 1,889 | ||
Individually evaluated for impairment | 4,418 | 4,111 | ||
Collectively evaluated for impairment | 356,517 | 338,157 | ||
Total portfolio loans and leases | 360,935 | 342,268 | ||
Residential Mortgage Loan [Member] | Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Residential Mortgage Loan [Member] | Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||||
Individually evaluated for impairment | 50 | 28 | ||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | 50 | 28 | ||
Individually evaluated for impairment | 3,308 | 3,155 | ||
Collectively evaluated for impairment | 94,643 | 68,114 | ||
Purchased credit-impaired(1) | [1] | 3 | ||
Total portfolio loans and leases | 97,951 | 71,272 | ||
Residential Mortgage Loan [Member] | Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Construction Loans [Member] | Real Estate Portfolio Segment [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 937 | 2,233 | ||
Allowance on loans and leases | 937 | 2,233 | $ 1,324 | |
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 204,088 | 141,964 | ||
Purchased credit-impaired(1) | [1] | 8,366 | ||
Total portfolio loans and leases | 212,454 | 141,964 | ||
Construction Loans [Member] | Real Estate Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Construction Loans [Member] | Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 937 | 2,233 | ||
Allowance on loans and leases | 937 | 2,233 | ||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 128,266 | 141,964 | ||
Total portfolio loans and leases | 128,266 | 141,964 | ||
Construction Loans [Member] | Real Estate Portfolio Segment [Member] | Originated Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
Construction Loans [Member] | Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | ||||
Allowance on loans and leases | ||||
Individually evaluated for impairment | ||||
Collectively evaluated for impairment | 75,822 | |||
Purchased credit-impaired(1) | [1] | 8,366 | ||
Total portfolio loans and leases | 84,188 | |||
Construction Loans [Member] | Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | ||||
Allowance on loans and leases | [1] | |||
[1] | Purchased credit-impaired loans are evaluated for impairment on an individual basis. |
Note 5 - Loans and Leases - Cre
Note 5 - Loans and Leases - Credit Risk Profile by Internally Assigned Grade (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Portfolio loans and leases | $ 3,285,858 | $ 2,535,425 |
Originated Loans [Member] | ||
Portfolio loans and leases | 2,487,296 | 2,240,987 |
Acquired Loans [Member] | ||
Portfolio loans and leases | 798,562 | 294,438 |
Pass [Member] | ||
Portfolio loans and leases | 2,395,234 | 1,810,269 |
Pass [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,827,327 | 1,621,983 |
Pass [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 567,907 | 188,286 |
Special Mention [Member] | ||
Portfolio loans and leases | 18,239 | 4,207 |
Special Mention [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 664 | 4,171 |
Special Mention [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 17,575 | 36 |
Substandard [Member] | ||
Portfolio loans and leases | 39,532 | 16,555 |
Substandard [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 11,551 | 12,898 |
Substandard [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 27,981 | 3,657 |
Doubtful [Member] | ||
Portfolio loans and leases | 2,138 | 1,622 |
Doubtful [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 355 | 125 |
Doubtful [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 1,783 | 1,497 |
Pass, Special Mention and Substandard [Member] | ||
Portfolio loans and leases | 2,455,143 | 1,832,653 |
Pass, Special Mention and Substandard [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,839,897 | 1,639,177 |
Pass, Special Mention and Substandard [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 615,246 | 193,476 |
Real Estate Portfolio Segment [Member] | ||
Portfolio loans and leases | 2,412,992 | 1,874,401 |
Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,794,811 | 1,609,561 |
Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 618,181 | 264,840 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | ||
Portfolio loans and leases | 1,523,377 | 1,110,898 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,122,327 | 946,879 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 401,050 | 164,019 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass [Member] | ||
Portfolio loans and leases | 1,490,862 | 1,099,557 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,114,171 | 936,737 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 376,691 | 162,820 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Special Mention [Member] | ||
Portfolio loans and leases | 13,448 | 1,892 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Special Mention [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,892 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 13,448 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Substandard [Member] | ||
Portfolio loans and leases | 18,194 | 9,449 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Substandard [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 8,156 | 8,250 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 10,038 | 1,199 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Doubtful [Member] | ||
Portfolio loans and leases | 873 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Doubtful [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | ||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 873 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass, Special Mention and Substandard [Member] | ||
Portfolio loans and leases | 1,523,377 | 1,110,898 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass, Special Mention and Substandard [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,122,327 | 946,879 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Pass, Special Mention and Substandard [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 401,050 | 164,019 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Portfolio loans and leases | 212,454 | 141,964 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 128,266 | 141,964 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 84,188 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
Portfolio loans and leases | 193,227 | 140,370 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 126,260 | 140,370 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 66,967 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
Portfolio loans and leases | 3,902 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 3,902 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
Portfolio loans and leases | 15,325 | 1,594 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 2,006 | 1,594 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 13,319 | |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | ||
Portfolio loans and leases | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | ||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass, Special Mention and Substandard [Member] | ||
Portfolio loans and leases | 212,454 | 141,964 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass, Special Mention and Substandard [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 128,266 | 141,964 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Pass, Special Mention and Substandard [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 84,188 | |
Commercial Portfolio Segment [Member] | ||
Portfolio loans and leases | 719,312 | 579,791 |
Commercial Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 589,304 | 550,334 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 130,008 | 29,457 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Portfolio loans and leases | 711,145 | 570,342 |
Commercial Portfolio Segment [Member] | Pass [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 586,896 | 544,876 |
Commercial Portfolio Segment [Member] | Pass [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 124,249 | 25,466 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Portfolio loans and leases | 889 | 2,315 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 664 | 2,279 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 225 | 36 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Portfolio loans and leases | 6,013 | 5,512 |
Commercial Portfolio Segment [Member] | Substandard [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,389 | 3,054 |
Commercial Portfolio Segment [Member] | Substandard [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 4,624 | 2,458 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Portfolio loans and leases | 1,265 | 1,622 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 355 | 125 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 910 | 1,497 |
Commercial Portfolio Segment [Member] | Pass, Special Mention and Substandard [Member] | ||
Portfolio loans and leases | 719,312 | 579,791 |
Commercial Portfolio Segment [Member] | Pass, Special Mention and Substandard [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 589,304 | 550,334 |
Commercial Portfolio Segment [Member] | Pass, Special Mention and Substandard [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | $ 130,008 | $ 29,457 |
Note 5 - Loans and Leases - C87
Note 5 - Loans and Leases - Credit Risk Profile by Payment Activity (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Portfolio loans and leases | $ 3,285,858 | $ 2,535,425 |
Originated Loans [Member] | ||
Portfolio loans and leases | 2,487,296 | 2,240,987 |
Acquired Loans [Member] | ||
Portfolio loans and leases | 798,562 | 294,438 |
Real Estate Portfolio Segment [Member] | ||
Portfolio loans and leases | 2,412,992 | 1,874,401 |
Real Estate Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,794,811 | 1,609,561 |
Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 618,181 | 264,840 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Portfolio loans and leases | 458,886 | 413,540 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 360,935 | 342,268 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 97,951 | 71,272 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Portfolio loans and leases | 218,275 | 207,999 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 183,283 | 178,450 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 34,992 | 29,549 |
Consumer Portfolio Segment [Member] | ||
Portfolio loans and leases | 38,153 | 25,341 |
Consumer Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 35,146 | 25,200 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 3,007 | 141 |
Finance Leases Portfolio Segment [Member] | ||
Portfolio loans and leases | 115,401 | 55,892 |
Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 68,035 | 55,892 |
Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 47,366 | |
Performing Financial Instruments [Member] | ||
Portfolio loans and leases | 824,714 | 697,686 |
Performing Financial Instruments [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 644,570 | 597,849 |
Performing Financial Instruments [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 180,144 | 99,837 |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Portfolio loans and leases | 454,469 | 410,882 |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 359,430 | 340,615 |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 95,039 | 70,267 |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Portfolio loans and leases | 216,794 | 205,710 |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 182,062 | 176,281 |
Performing Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 34,732 | 29,429 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Portfolio loans and leases | 38,153 | 25,339 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 35,146 | 25,198 |
Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 3,007 | 141 |
Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | ||
Portfolio loans and leases | 115,298 | 55,755 |
Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 67,932 | 55,755 |
Performing Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 47,366 | |
Nonperforming Financial Instruments [Member] | ||
Portfolio loans and leases | 6,001 | 5,086 |
Nonperforming Financial Instruments [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 2,829 | 3,961 |
Nonperforming Financial Instruments [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 3,172 | 1,125 |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Portfolio loans and leases | 4,417 | 2,658 |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,505 | 1,653 |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 2,912 | 1,005 |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Portfolio loans and leases | 1,481 | 2,289 |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 1,221 | 2,169 |
Nonperforming Financial Instruments [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 260 | 120 |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | ||
Portfolio loans and leases | 2 | |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 2 | |
Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | ||
Nonperforming Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | ||
Portfolio loans and leases | 103 | 137 |
Nonperforming Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 103 | 137 |
Nonperforming Financial Instruments [Member] | Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | ||
Performing and Non-performing [Member] | ||
Portfolio loans and leases | 830,715 | 702,772 |
Performing and Non-performing [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 647,399 | 601,810 |
Performing and Non-performing [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 183,316 | 100,962 |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Portfolio loans and leases | 458,886 | 413,540 |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 360,935 | 342,268 |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 97,951 | 71,272 |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Portfolio loans and leases | 218,275 | 207,999 |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 183,283 | 178,450 |
Performing and Non-performing [Member] | Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 34,992 | 29,549 |
Performing and Non-performing [Member] | Consumer Portfolio Segment [Member] | ||
Portfolio loans and leases | 38,153 | 25,341 |
Performing and Non-performing [Member] | Consumer Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 35,146 | 25,200 |
Performing and Non-performing [Member] | Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | 3,007 | 141 |
Performing and Non-performing [Member] | Finance Leases Portfolio Segment [Member] | ||
Portfolio loans and leases | 115,401 | 55,892 |
Performing and Non-performing [Member] | Finance Leases Portfolio Segment [Member] | Originated Loans [Member] | ||
Portfolio loans and leases | 68,035 | 55,892 |
Performing and Non-performing [Member] | Finance Leases Portfolio Segment [Member] | Acquired Loans [Member] | ||
Portfolio loans and leases | $ 47,366 |
Note 5 - Loans and Leases - Tro
Note 5 - Loans and Leases - Troubled Debt Restructurings (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Troubled debt restructurings | $ 9,089 | $ 9,027 |
Number of contracts | 10 | 16 |
Pre-modification outstanding recorded investment | $ 1,114 | $ 2,772 |
Post-modification outstanding recorded investment | $ 1,114 | $ 2,779 |
Contractual Interest Rate Reduction [Member] | ||
Number of contracts | 1 | 4 |
Extended Maturity [Member] | ||
Number of contracts | 1 | 2 |
Interest Rate Change and Term Extension [Member] | ||
Number of contracts | 4 | 6 |
Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of contracts | 4 | 3 |
Contractual Payment Reduction (Leases only) [Member] | ||
Number of contracts | 1 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Number of contracts | 3 | 2 |
Pre-modification outstanding recorded investment | $ 432 | $ 141 |
Post-modification outstanding recorded investment | $ 432 | $ 148 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Contractual Interest Rate Reduction [Member] | ||
Number of contracts | 1 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Extended Maturity [Member] | ||
Number of contracts | 1 | 2 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Interest Rate Change and Term Extension [Member] | ||
Number of contracts | 1 | |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of contracts | ||
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | Contractual Payment Reduction (Leases only) [Member] | ||
Number of contracts | ||
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 | 1 | |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | Extended Maturity [Member] | ||
Number of contracts | ||
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] | Home Equity Loan [Member] | ||
Number of contracts | 3 | 6 |
Pre-modification outstanding recorded investment | $ 582 | $ 265 |
Post-modification outstanding recorded investment | $ 582 | $ 265 |
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 | 3 | 6 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Interest Rate Change and/or Interest-Only Period [Member] | ||
Number of contracts | ||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | Contractual Payment Reduction (Leases only) [Member] | ||
Number of contracts | ||
Finance Leases Portfolio Segment [Member] | ||
Number of contracts | 4 | 3 |
Pre-modification outstanding recorded investment | $ 100 | $ 104 |
Post-modification outstanding recorded investment | $ 100 | $ 104 |
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 | 4 | 3 |
Finance Leases Portfolio Segment [Member] | Contractual Payment Reduction (Leases only) [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 | 3 | |
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | ||
Number of contracts | ||
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 | 1 | |
Nonperforming Financial Instruments [Member] | ||
Troubled debt restructurings | $ 3,289 | $ 2,632 |
Performing Financial Instruments [Member] | ||
Troubled debt restructurings | $ 5,800 | $ 6,395 |
Note 5 - Loans and Leases - Imp
Note 5 - Loans and Leases - Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||
Impaired loans with related allowance, recorded investment | $ 3,058 | [1] | $ 737 | [2] | $ 2,671 | [3] | |
Impaired loans with related allowance, principal balance | 3,058 | 737 | 2,674 | ||||
Impaired loans, related allowance | [4] | 258 | 86 | 693 | |||
Impaired loans with related allowance, average principal balance | 2,746 | [4] | 775 | 2,902 | [4] | ||
Impaired loans with related allowance, interest income recognized | 136 | 34 | 77 | ||||
Impaired loans without related allowance, recorded investment | [4] | 10,882 | [1] | 13,437 | [2] | 11,715 | [3] |
Impaired loans without related allowance, principal balance | [4] | 13,005 | 15,017 | 15,056 | |||
Impaired loans without related allowance, average principal balance | 10,914 | [4] | 20,322 | [4] | 17,123 | ||
Impaired loans without related allowance, interest income recognized | [4] | 349 | 517 | 436 | |||
Impaired loans, recorded investment | [4] | 13,940 | [1] | 14,174 | [2] | 14,386 | [3] |
Impaired loans, principal balance | [4] | 16,063 | 15,754 | 17,730 | |||
Impaired loans, average principal balance | [4] | 13,660 | 21,097 | 20,025 | |||
Impaired loans, interest income recognized | [4] | 485 | 551 | 513 | |||
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | |||||||
Impaired loans with related allowance, recorded investment | 577 | [1] | 115 | [3] | |||
Impaired loans with related allowance, principal balance | 577 | 115 | |||||
Impaired loans, related allowance | 19 | 115 | |||||
Impaired loans with related allowance, average principal balance | 232 | 125 | |||||
Impaired loans with related allowance, interest income recognized | 7 | 4 | |||||
Impaired loans without related allowance, recorded investment | [4] | 1,585 | [1] | 2,354 | [2] | 1,865 | [3] |
Impaired loans without related allowance, principal balance | [4] | 1,645 | 2,778 | 2,447 | |||
Impaired loans without related allowance, average principal balance | [4] | 1,636 | 2,833 | 2,605 | |||
Impaired loans without related allowance, interest income recognized | [4] | 38 | 25 | 46 | |||
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | |||||||
Impaired loans with related allowance, recorded investment | 2,436 | [1] | 622 | [2] | 515 | [3] | |
Impaired loans with related allowance, principal balance | 2,435 | 622 | 527 | ||||
Impaired loans, related allowance | 230 | 73 | 54 | ||||
Impaired loans with related allowance, average principal balance | 2,467 | 639 | 531 | ||||
Impaired loans with related allowance, interest income recognized | 127 | 27 | 23 | ||||
Impaired loans without related allowance, recorded investment | [4] | 5,290 | [1] | 6,644 | [2] | 7,239 | [3] |
Impaired loans without related allowance, principal balance | [4] | 5,529 | 6,970 | 8,166 | |||
Impaired loans without related allowance, average principal balance | [4] | 4,994 | 7,544 | 8,085 | |||
Impaired loans without related allowance, interest income recognized | [4] | 191 | 276 | 257 | |||
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | |||||||
Impaired loans without related allowance, recorded investment | [4] | 2,128 | [1] | 1,577 | [2] | 349 | [3] |
Impaired loans without related allowance, principal balance | [4] | 2,218 | 1,577 | 358 | |||
Impaired loans without related allowance, average principal balance | [4] | 2,205 | 1,583 | 361 | |||
Impaired loans without related allowance, interest income recognized | [4] | 85 | 70 | 9 | |||
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||||
Impaired loans without related allowance, recorded investment | [3],[4] | 33 | |||||
Impaired loans without related allowance, principal balance | [4] | 996 | |||||
Impaired loans without related allowance, average principal balance | [4] | 1,087 | |||||
Impaired loans without related allowance, interest income recognized | [4] | ||||||
Commercial Portfolio Segment [Member] | |||||||
Impaired loans with related allowance, recorded investment | 18 | [1] | 84 | [2] | 2,011 | [3] | |
Impaired loans with related allowance, principal balance | 19 | 84 | 2,002 | ||||
Impaired loans, related allowance | 5 | 5 | 519 | ||||
Impaired loans with related allowance, average principal balance | 19 | 103 | 2,215 | ||||
Impaired loans with related allowance, interest income recognized | 1 | 5 | 49 | ||||
Impaired loans without related allowance, recorded investment | [4] | 1,879 | [1] | 2,862 | [2] | 2,229 | [3] |
Impaired loans without related allowance, principal balance | [4] | 3,613 | 3,692 | 3,089 | |||
Impaired loans without related allowance, average principal balance | [4] | 2,079 | 8,362 | 4,985 | |||
Impaired loans without related allowance, interest income recognized | [4] | 35 | 146 | 124 | |||
Consumer Portfolio Segment [Member] | |||||||
Impaired loans with related allowance, recorded investment | 27 | [1] | 31 | [2] | 30 | [3] | |
Impaired loans with related allowance, principal balance | 27 | 31 | 30 | ||||
Impaired loans, related allowance | 4 | 8 | 5 | ||||
Impaired loans with related allowance, average principal balance | 28 | 33 | 31 | ||||
Impaired loans with related allowance, interest income recognized | $ 1 | $ 2 | $ 1 | ||||
[1] | The table above does not include the recorded investment of $272 thousand of impaired leases without a related allowance for loan and lease losses. | ||||||
[2] | The table above does not include the recorded investment of $240 thousand of impaired leases without a related allowance for loan and lease losses. | ||||||
[3] | The table above does not include the recorded investment of $77 thousand of impaired leases without a related allowance for loan and lease losses. | ||||||
[4] | Recorded investment equals principal balance less partial charge-offs and interest payments on non-performing loans that have been applied to principal. |
Note 5 - Loans and Leases - Loa
Note 5 - Loans and Leases - Loan Acquired (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Acquired loans, outstanding principal | $ 833,352 | $ 306,725 |
Acquired loans, remaining loan mark | (34,790) | (12,287) |
Acquired loans, recorded investment | 798,562 | 294,438 |
Real Estate Portfolio Segment [Member] | Commercial Mortgage [Member] | ||
Acquired loans, outstanding principal | 412,263 | 168,612 |
Acquired loans, remaining loan mark | (11,213) | (4,593) |
Acquired loans, recorded investment | 401,050 | 164,019 |
Real Estate Portfolio Segment [Member] | Home Equity Loan [Member] | ||
Acquired loans, outstanding principal | 37,944 | 31,236 |
Acquired loans, remaining loan mark | (2,952) | (1,687) |
Acquired loans, recorded investment | 34,992 | 29,549 |
Real Estate Portfolio Segment [Member] | Residential Mortgage Loan [Member] | ||
Acquired loans, outstanding principal | 101,523 | 73,902 |
Acquired loans, remaining loan mark | (3,572) | (2,630) |
Acquired loans, recorded investment | 97,951 | 71,272 |
Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Acquired loans, outstanding principal | 86,081 | |
Acquired loans, remaining loan mark | (1,893) | |
Acquired loans, recorded investment | 84,188 | |
Commercial Portfolio Segment [Member] | ||
Acquired loans, outstanding principal | 141,960 | 32,812 |
Acquired loans, remaining loan mark | (11,952) | (3,355) |
Acquired loans, recorded investment | 130,008 | 29,457 |
Consumer Portfolio Segment [Member] | ||
Acquired loans, outstanding principal | 3,051 | 163 |
Acquired loans, remaining loan mark | (44) | (22) |
Acquired loans, recorded investment | 3,007 | $ 141 |
Finance Leases Portfolio Segment [Member] | ||
Acquired loans, outstanding principal | 50,530 | |
Acquired loans, remaining loan mark | (3,164) | |
Acquired loans, recorded investment | $ 47,366 |
Note 6 - Other Real Estate Ow91
Note 6 - Other Real Estate Owned - Summary of Real Estate Owned (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance | $ 1,017 | $ 2,638 |
Additions | 560 | 355 |
Impairments | (121) | (94) |
Sales | (1,152) | (1,882) |
Balance | $ 304 | $ 1,017 |
Note 7 - Premises and Equipme92
Note 7 - Premises and Equipment (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation, Amortization and Accretion, Net | $ 5.7 | $ 5.8 | $ 5.1 |
Operating Leases, Rent Expense | $ 4.7 | $ 4.6 | $ 5.1 |
Note 7 - Premises and Equipme93
Note 7 - Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Less: accumulated depreciation | $ (56,022) | $ (50,225) |
Total | 54,458 | 41,778 |
Land [Member] | ||
Premises and equipment | 9,522 | 5,306 |
Building [Member] | ||
Premises and equipment | 31,376 | 24,998 |
Furniture and Equipment [Member] | ||
Premises and equipment | 38,775 | 36,930 |
Leasehold Improvements [Member] | ||
Premises and equipment | 26,636 | 24,713 |
Construction in Progress [Member] | ||
Premises and equipment | $ 4,171 | $ 56 |
Note 7 - Premises and Equipme94
Note 7 - Premises and Equipment - Future Minimum Cash Rent Commitments under Various Operating Leases (Details) $ in Thousands | Dec. 31, 2017USD ($) |
2,018 | $ 6,833 |
2,019 | 4,535 |
2,020 | 3,959 |
2,021 | 3,333 |
2,022 | 2,776 |
2023 and thereafter | 11,082 |
Total | $ 32,518 |
Note 8 - Mortgage Servicing R95
Note 8 - Mortgage Servicing Rights ("MSR"s) (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
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 | $ 6.4 | $ 6.2 | $ 5.7 |
Note 8 - Mortgage Servicing R96
Note 8 - Mortgage Servicing Rights ("MSR"s) - Mortgage Servicing Rights Activity (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ 5,582 | ||
Balance | 5,861 | $ 5,582 | |
Fair value | 6,400 | 6,200 | $ 5,700 |
Residential Mortgage [Member] | |||
Balance | 5,582 | 5,142 | 4,765 |
Additions | 1,025 | 1,321 | 1,037 |
Amortization | (791) | (750) | (590) |
Recovery / (Impairment) | 45 | (131) | (70) |
Balance | 5,861 | 5,582 | 5,142 |
Fair value | 6,397 | 6,154 | 5,726 |
Residential mortgage loans serviced for others | $ 650,703 | $ 631,889 | $ 601,939 |
Note 8 - Mortgage Servicing R97
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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ (1,805) | $ (1,674) | $ (1,604) |
Impairment | (52) | (715) | (123) |
Recovery | 97 | 584 | 53 |
Balance | $ (1,760) | $ (1,805) | $ (1,674) |
Note 8 - Mortgage Servicing R98
Note 8 - Mortgage Servicing Rights ("MSR"s) - Key Economic Assumptions and Sensitivity of Current Fair Value of MSRs (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Fair value | $ 6,400 | $ 6,200 | $ 5,700 | |
Residential Mortgage [Member] | ||||
Fair value | $ 6,397 | $ 6,154 | $ 5,726 | |
Weighted average life (in years) (Year) | 6 years 36 days | |||
Prepayment speeds (constant prepayment rate)* | [1] | 10.30% | ||
10% adverse change | $ (194) | |||
20% adverse change | $ (394) | |||
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, 2017 | Dec. 31, 2016 |
Bank Overdrafts | $ 669 | $ 818 |
Time Deposits, at or Above FDIC Insurance Limit | $ 193,300 | $ 117,800 |
Note 9 - Deposits - Components
Note 9 - Deposits - Components of Deposits (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Savings | $ 338,572 | $ 232,193 | |
NOW accounts* | [1] | 482,252 | 380,057 |
Market rate accounts* | [1] | 923,999 | 835,296 |
Retail time deposits, less than $100 | 272,528 | 139,276 | |
Retail time deposits, $100 or more | 259,674 | 183,636 | |
Wholesale time deposits | 171,929 | 73,037 | |
Total interest-bearing deposits | 2,448,954 | 1,843,495 | |
Non-interest-bearing deposits | 924,844 | 736,180 | |
Total deposits | $ 3,373,798 | $ 2,579,675 | |
[1] | Includes wholesale deposits. |
Note 9 - Deposits - Details of
Note 9 - Deposits - Details of Maturities of Retail Time Deposits (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Less than 100,000 Dollars [Member] | |
2,018 | $ 183,049 |
2,019 | 52,972 |
2,020 | 16,794 |
2,021 | 13,737 |
2022 and thereafter | 5,976 |
Total | 272,528 |
The 100,000 Dollars or More [Member] | |
2,018 | 197,127 |
2,019 | 40,707 |
2,020 | 11,020 |
2,021 | 8,471 |
2022 and thereafter | 2,349 |
Total | $ 259,674 |
Note 9 - Deposits - Details 102
Note 9 - Deposits - Details of Maturities of Wholesale Time Deposits (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Wholesale Time Deposits, Less than $100,000 [Member] | |
2,018 | $ 3,729 |
2,019 | |
Total | 3,729 |
Wholesale Time Deposits, $100,000 or More [Member] | |
2,018 | 153,207 |
2,019 | 14,993 |
Total | $ 168,200 |
Note 10 - Short-term Borrowi103
Note 10 - Short-term Borrowings and Long-term FHLB Advances (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Short-term Debt | $ 237,865 | $ 204,151 |
Other Long-term Debt | 139,140 | 189,742 |
Federal Home Loan Bank Stock | 20,083 | $ 17,305 |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | 1,370,000 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 1,020,000 | |
Overnight Federal Funds [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 79,000 | |
Federal Reserve Discount Window [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 121,300 |
Note 10 - Short-term Borrowi104
Note 10 - Short-term Borrowings and Long-term FHLB Advances- Summary of Short-term Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Short-term borrowings | $ 237,865 | $ 204,151 | |
Repurchase Agreements Commercial Customers [Member] | |||
Short-term borrowings | [1] | 25,865 | 39,151 |
Federal Home Loan Bank Advances [Member] | |||
Short-term borrowings | $ 212,000 | $ 165,000 | |
[1] | overnight repurchase agreements with no expiration date |
Note 10 - Short-term Borrowi105
Note 10 - Short-term Borrowings and Long-term FHLB Advances - Information Concerning Short-term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at period-end | $ 237,865 | $ 204,151 |
Maximum amount outstanding at any month end | 237,865 | 204,151 |
Average balance outstanding during the period | $ 128,008 | $ 37,041 |
As of the period-end | 1.40% | 0.66% |
Paid during the period | 1.09% | 0.25% |
Note 10 - Short-term Borrowi106
Note 10 - Short-term Borrowings and Long-term FHLB Advances - Maturity of FHLB Advances and Other Borrowings (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Total | $ 139,140 | $ 189,742 |
Federal Home Loan Bank Advances [Member] | ||
Within one year | 83,766 | 75,000 |
Over one year through five years | 55,374 | 114,742 |
Total | $ 139,140 | $ 189,742 |
Note 10 - Short-term Borrowi107
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, 2017 | Dec. 31, 2016 | ||
Maturity start range | |||
Balance | $ 139,140 | $ 189,742 | |
Bullet Maturity [Member] | Fixed Rate [Member] | |||
Maturity start range | [1] | Feb. 14, 2018 | |
Maturity end range | [1] | Aug. 24, 2021 | |
Balance | $ 118,131 | 153,612 | |
Bullet Maturity [Member] | Fixed Rate [Member] | Weighted Average [Member] | |||
Interest rate | [1] | 1.63% | |
Bullet Maturity [Member] | Fixed Rate [Member] | Minimum [Member] | |||
Interest rate | [1] | 1.05% | |
Bullet Maturity [Member] | Fixed Rate [Member] | Maximum [Member] | |||
Interest rate | [1] | 2.13% | |
Bullet Maturity [Member] | Variable Rate [Member] | |||
Balance | 15,000 | ||
Convertible-fixed [Member] | |||
Maturity start range | [1],[2] | Jan. 3, 2018 | |
Maturity end range | [1],[2] | Aug. 20, 2018 | |
Balance | [1],[2] | $ 21,009 | $ 21,130 |
Convertible-fixed [Member] | Weighted Average [Member] | |||
Interest rate | [1],[2] | 2.94% | |
Convertible-fixed [Member] | Minimum [Member] | |||
Interest rate | [1],[2] | 2.58% | |
Convertible-fixed [Member] | Maximum [Member] | |||
Interest rate | [1],[2] | 3.50% | |
[1] | Maturity range, weighted average rate and coupon rate range refers to December 31, 2017 balances | ||
[2] | FHLB advances whereby the FHLB has the option, at predetermined times, to convert the fixed interest rate to an adjustable interest rate indexed to the London Interbank Offered Rate ("LIBOR"). The Corporation has the option to prepay these advances, without penalty, if the FHLB elects to convert the interest rate to an adjustable rate. As of December 31, 2017, substantially all FHLB advances with this convertible feature are subject to conversion in fiscal 2018. These advances are included in the maturity ranges in which they mature, rather than the period in which they are subject to conversion. |
Note 11 - Subordinated Notes (D
Note 11 - Subordinated Notes (Details Textual) - USD ($) $ in Thousands | Dec. 13, 2017 | Aug. 06, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2012 |
Debt Instrument, Face Amount | $ 15,000 | |||||
Proceeds from Issuance of Subordinated Long-term Debt | $ 68,829 | $ 29,456 | ||||
2027 Notes [Member] | ||||||
Proceeds from Issuance of Subordinated Long-term Debt | $ 68,800 | |||||
2025 Notes [Member] | ||||||
Proceeds from Issuance of Subordinated Long-term Debt | $ 29,500 | |||||
Subordinated Debt [Member] | 2027 Notes [Member] | ||||||
Debt Instrument, Face Amount | $ 70,000 | |||||
Debt Instrument, Redemption Price, Percentage | 100.00% | |||||
Subordinated Debt [Member] | 2027 Notes [Member] | Interest Rate From Date of Issuance Until December 14, 2022 [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | |||||
Subordinated Debt [Member] | 2027 Notes [Member] | Interest Rate From December 15, 2022 Until December 15, 2027 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.05% | |||||
Subordinated Debt [Member] | 2025 Notes [Member] | ||||||
Debt Instrument, Face Amount | $ 30,000 | |||||
Debt Instrument, Redemption Price, Percentage | 100.00% | |||||
Subordinated Debt [Member] | 2025 Notes [Member] | Interest Rate From Date of Issuance Until August 14, 2020 [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.75% | |||||
Subordinated Debt [Member] | 2025 Notes [Member] | Interest Rate from August 15, 2020 through August 15, 2025 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 3.068% |
Note 12 - Junior Subordinate109
Note 12 - Junior Subordinated Debentures (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 15, 2017 | Dec. 31, 2016 | |
Other Investments | $ 12,470,000 | $ 8,627,000 | |
Royal Bancshares Capital Trust I [Member] | |||
Trust, Capital Securities Issued | 12,500,000 | ||
Trust, Common Securities, Issued | 387,000 | ||
Royal Bancshares Capital Trust II [Member] | |||
Trust, Capital Securities Issued | 12,500,000 | ||
Trust, Common Securities, Issued | $ 387,000 | ||
Junior Subordinated Debentures, RBPI Merger [Member] | Junior Subordinated Debt [Member] | |||
Debt Instrument, Interest Rate, Effective Percentage | 3.74% | ||
Junior Subordinated Debentures, RBPI Merger [Member] | Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.15% | ||
Royal Bancshares of Pennsylvania, Inc. [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Junior Subordinated Debentures | $ 21,400,000 | ||
Royal Bancshares of Pennsylvania, Inc. [Member] | Royal Bancshares Capital Trust I [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Junior Subordinated Debentures | 10,700,000 | ||
Royal Bancshares Capital Trust I and II [Member] | |||
Other Investments | $ 774,000 | ||
Royal Bancshares Capital Trust II [Member] | |||
Other Investments | 387,000 | ||
Royal Bancshares Capital Trust II [Member] | Royal Bancshares of Pennsylvania, Inc. [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Junior Subordinated Debentures | $ 10,700,000 | ||
Royal Bancshares Capital Trust I [Member] | |||
Other Investments | $ 387,000 |
Note 13 - Derivatives and He110
Note 13 - Derivatives and Hedging Activities (Details Textual) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | $ 1,300,000 | $ 0 |
Derivative, Fair Value, Net | $ 1,600,000 | $ 0 |
Note 13 - Derivatives and He111
Note 13 - Derivatives and Hedging Activities - Derivative Instruments (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Asset derivatives, notional amount | $ 139,337 | |
Asset derivatives, fair value | 1,916 | |
Liability derivatives, notional amount | 125,526 | |
Liability derivatives, fair value | 1,898 | |
Interest Rate Swap [Member] | ||
Asset derivatives, notional amount | 124,627 | |
Asset derivatives, fair value | 1,895 | |
Liability derivatives, notional amount | 124,627 | |
Liability derivatives, fair value | 1,895 | |
Risk Participation Agreements Sold [Member] | ||
Asset derivatives, notional amount | ||
Asset derivatives, fair value | ||
Liability derivatives, notional amount | 899 | |
Liability derivatives, fair value | 3 | |
Risk Participation Agreements Purchased [Member] | ||
Asset derivatives, notional amount | 14,710 | |
Asset derivatives, fair value | 21 | |
Liability derivatives, notional amount | ||
Liability derivatives, fair value | ||
Risk Participation Agreements [Member] | ||
Asset derivatives, notional amount | ||
Asset derivatives, fair value | ||
Liability derivatives, notional amount | ||
Liability derivatives, fair value |
Note 14 - Disclosure About F112
Note 14 - Disclosure About Fair Value of Financial Instruments (Details Textual) - Impaired Loans [Member] | 12 Months Ended |
Dec. 31, 2017 | |
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 14 - Disclosure about F113
Note 14 - Disclosure about Fair Value of Financial Instruments - Carrying Amount and Estimated Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | |
Financial assets: | |||
Investment securities - available for sale | $ 689,202 | $ 566,996 | |
Investment securities, trading | 4,610 | 3,888 | |
Investment securities held to maturity, fair value | 7,851 | 2,818 | |
Reported Value Measurement [Member] | |||
Financial assets: | |||
Investment securities - available for sale | [1] | 689,202 | 566,996 |
Investment securities, trading | [1] | 4,610 | 3,888 |
Total financial assets | 4,088,471 | 3,192,135 | |
Financial liabilities: | |||
Total financial liabilities | 3,921,604 | 3,040,403 | |
Estimate of Fair Value Measurement [Member] | |||
Financial assets: | |||
Investment securities - available for sale | [1] | 689,202 | 566,996 |
Investment securities, trading | [1] | 4,610 | 3,888 |
Total financial assets | 4,114,395 | 3,180,253 | |
Financial liabilities: | |||
Total financial liabilities | 3,910,205 | 3,036,556 | |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | |||
Financial assets: | |||
Cash and cash equivalents | 60,024 | 50,765 | |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | |||
Financial assets: | |||
Cash and cash equivalents | 60,024 | 50,765 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | |||
Financial assets: | |||
Investment securities held to maturity, fair value | 7,932 | 2,879 | |
Loans held for sale | 3,794 | 9,621 | |
Financial liabilities: | |||
Deposits | 3,373,798 | 2,579,675 | |
Short-term borrowings | 237,865 | 204,151 | |
Long-term FHLB advances | 139,140 | 189,742 | |
Subordinated notes | 98,416 | 29,532 | |
Junior subordinated debentures | 21,416 | ||
Other liabilities | 49,071 | 37,303 | |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Interest Rate Swap [Member] | |||
Financial assets: | |||
Derivative Asset | 1,895 | ||
Financial liabilities: | |||
Derivative Liability | 1,895 | ||
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Risk Participation Agreements Purchased [Member] | |||
Financial assets: | |||
Derivative Asset | 21 | ||
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Risk Participation Agreements Sold [Member] | |||
Financial liabilities: | |||
Derivative Liability | 3 | ||
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | |||
Financial assets: | |||
Investment securities held to maturity, fair value | 7,851 | 2,818 | |
Loans held for sale | 3,794 | 9,621 | |
Financial liabilities: | |||
Deposits | 3,368,276 | 2,579,011 | |
Short-term borrowings | 237,865 | 204,151 | |
Long-term FHLB advances | 138,685 | 186,863 | |
Subordinated notes | 95,044 | 29,228 | |
Junior subordinated debentures | 19,366 | ||
Other liabilities | 49,071 | 37,303 | |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member] | |||
Financial assets: | |||
Derivative Asset | 1,895 | ||
Financial liabilities: | |||
Derivative Liability | 1,895 | ||
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Risk Participation Agreements Purchased [Member] | |||
Financial assets: | |||
Derivative Asset | 21 | ||
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Risk Participation Agreements Sold [Member] | |||
Financial liabilities: | |||
Derivative Liability | 3 | ||
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | |||
Financial assets: | |||
Net portfolio loans and leases | 3,268,333 | 2,517,939 | |
Mortgage servicing rights | 5,861 | 5,582 | |
Other assets | 46,799 | 34,465 | |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | |||
Financial assets: | |||
Net portfolio loans and leases | 3,293,802 | 2,505,546 | |
Mortgage servicing rights | 6,397 | 6,154 | |
Other assets | $ 46,799 | $ 34,465 | |
[1] | see Note 15 in the Notes to Consolidated Financial Statements for a description of hierarchy levels |
Note 15 - Fair Value Measure114
Note 15 - Fair Value Measurement (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for Loan and Lease Losses [Member] | ||
Valuation Allowances and Reserves, Period Increase (Decrease) | $ 175 | $ (607) |
Note 15 - Fair Value Measure115
Note 15 - Fair Value Measurement - Assets Measured on Recurring and Non-recurring Basis (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Assets measured on a recurring basis | $ 695.7 | $ 573.7 |
Assets measured at fair value on a non-recurring basis | 20.7 | 21.5 |
Interest Rate Swap [Member] | ||
Assets measured on a recurring basis | 1.9 | |
Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | 208.2 | 219.2 |
Assets measured at fair value on a non-recurring basis | ||
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Assets measured on a recurring basis | ||
Fair Value, Inputs, Level 2 [Member] | ||
Assets measured on a recurring basis | 487.5 | 354.5 |
Assets measured at fair value on a non-recurring basis | ||
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Assets measured on a recurring basis | 1.9 | |
Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis | ||
Assets measured at fair value on a non-recurring basis | 20.7 | 21.5 |
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Assets measured on a recurring basis | ||
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Assets measured on a recurring basis | 275 | 188.8 |
Assets measured at fair value on a non-recurring basis | 6.4 | 6.2 |
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 | 275 | 188.8 |
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 | 6.4 | 6.2 |
US Treasury Securities [Member] | ||
Assets measured on a recurring basis | 200.1 | 200.1 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | 200.1 | 200.1 |
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 | 14.3 |
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 | 14.3 |
US Government Agencies Debt Securities [Member] | ||
Assets measured on a recurring basis | 151 | 82.2 |
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 | 151 | 82.2 |
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 | 0.3 | 1 |
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 | 0.3 | 1 |
US States and Political Subdivisions Debt Securities [Member] | ||
Assets measured on a recurring basis | 21.3 | 33.5 |
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 | 21.3 | 33.5 |
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 | 36.7 | 48.7 |
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 | 36.7 | 48.7 |
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 | 8.1 | 19.1 |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets measured on a recurring basis | 8.1 | 19.1 |
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 | 1.6 | 1.3 |
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 | 1.6 | 1.3 |
Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets measured on a recurring basis |
Note 16 - 401(K) Plan and Ot116
Note 16 - 401(K) Plan and Other Defined Contribution Plans (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
The 401(K) Plan [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 3.00% | |||
Defined Contribution Plan, Cost | $ 1,200 | $ 1,000 | $ 920 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | 489 | 126 | 1,300 | |
Defined Contribution Plan, Assets Transferred | $ 2,300 | |||
EDCP [Member] | ||||
Deferred Compensation Arrangement with Individual, Compensation Expense | $ 238 | $ 272 | $ 164 |
Note 17 - Pension and Postre117
Note 17 - Pension and Postretirement Benefit Plans (Details Textual) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2005 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | $ (17,377) | |||
Percentage of Fair Value to Total Pension Plan Asset | 10.00% | |||
QDBP [Member] | ||||
Defined Benefit Plan Employee Eligible Age | 20.5 | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | $ (17,377) | |||
SERP I and SERP II [Member] | ||||
Number of Defined Benefit Pension Plans | 2 | |||
Defined Benefit Plan, Participants Amounts Frozen, Percentage | 20.00% | |||
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 260 | |||
PRBP [Member] | ||||
Defined Benefit Plan, Maximum Annual Payment, Percentage | 120.00% |
Note 17 - Pension and Postre118
Note 17 - Pension and Postretirement Benefit Plans - Actuarial Assumptions Used to Determine Benefit Obligations (Details) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
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 | 3.30% | 3.75% |
Rate of increase for future compensation | ||
Expected long-term rate of return on plan assets | ||
PRBP [Member] | ||
Discount rate | 2.75% | 2.80% |
Rate of increase for future compensation | ||
Expected long-term rate of return on plan assets |
Note 17 - Pension and Postre119
Note 17 - Pension and Postretirement Benefit Plans - Changes in Benefit Obligations and Plan Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
QDBP [Member] | |||
Benefit obligation | $ 169 | ||
Service cost | |||
Interest cost | 1,589 | ||
Plan participants contribution | |||
Actuarial loss (gain) | |||
Settlements | |||
Benefits paid | (169) | ||
Benefit obligation | 169 | ||
Fair value of plan assets | 169 | ||
Actual return on plan assets | |||
Settlements | |||
Excess assets transferred to defined contribution plan | |||
Employer contribution | |||
Plan participants’ contribution | |||
Benefits paid | (169) | ||
Fair value of plan assets | 169 | ||
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 | 4,786 | 4,830 | |
Service cost | |||
Interest cost | 176 | 184 | 184 |
Plan participants contribution | |||
Actuarial loss (gain) | 282 | 32 | |
Settlements | |||
Benefits paid | (261) | (260) | |
Benefit obligation | 4,983 | 4,786 | 4,830 |
Fair value of plan assets | |||
Actual return on plan assets | |||
Settlements | |||
Excess assets transferred to defined contribution plan | |||
Employer contribution | 261 | 260 | |
Plan participants’ contribution | |||
Benefits paid | (261) | (260) | |
Fair value of plan assets | |||
Funded status at year end (plan assets less benefit obligations) | (4,983) | (4,786) | |
Prepaid benefit cost/(accrued liability) | (3,221) | (3,248) | |
Net actuarial loss | (1,762) | (1,539) | |
Net included in Other liabilities in the Consolidated Balance Sheets | (4,983) | (4,786) | |
PRBP [Member] | |||
Benefit obligation | 418 | 493 | |
Service cost | |||
Interest cost | 11 | 17 | 18 |
Plan participants contribution | 44 | 49 | |
Actuarial loss (gain) | (9) | (6) | |
Settlements | |||
Benefits paid | (111) | (135) | |
Benefit obligation | 353 | 418 | 493 |
Fair value of plan assets | |||
Actual return on plan assets | |||
Settlements | |||
Excess assets transferred to defined contribution plan | |||
Employer contribution | 67 | 86 | |
Plan participants’ contribution | 44 | 49 | |
Benefits paid | (111) | (135) | |
Fair value of plan assets | |||
Funded status at year end (plan assets less benefit obligations) | (353) | (418) | |
Prepaid benefit cost/(accrued liability) | (149) | (170) | |
Net actuarial loss | (204) | (248) | |
Net included in Other liabilities in the Consolidated Balance Sheets | $ (353) | $ (418) |
Note 17 - Pension and Postre120
Note 17 - Pension and Postretirement Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Recognition of net actuarial loss due to settlement | $ 17,377 | ||
QDBP [Member] | |||
Service cost | |||
Interest cost | 1,589 | ||
Expected return on plan assets | (3,217) | ||
Amortization of prior service cost | |||
Recognition of net actuarial loss | 1,913 | ||
Recognition of net actuarial loss due to settlement | 17,377 | ||
Net periodic pension cost | 17,662 | ||
SERP I and SERP II [Member] | |||
Service cost | |||
Interest cost | 176 | 184 | 184 |
Amortization of prior service cost | |||
Recognition of net actuarial loss | 59 | 57 | 63 |
Net periodic pension cost | $ 235 | $ 241 | $ 247 |
Discount Rate Used in the Calculation of Periodic Pension Costs | 3.75% | 3.90% | 3.70% |
PRBP [Member] | |||
Service cost | |||
Interest cost | 11 | 17 | 18 |
Amortization of prior service cost | |||
Recognition of net actuarial loss | 36 | 41 | 37 |
Net periodic pension cost | $ 47 | $ 58 | $ 55 |
Discount Rate Used in the Calculation of Periodic Pension Costs | 2.80% | 3.90% | 3.70% |
Note 17 - Pension and Postre121
Note 17 - 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, 2017USD ($) |
2022-2026 | $ 2,027 |
SERP I and SERP II [Member] | |
2,017 | 260 |
2,018 | 259 |
2,019 | 258 |
2,020 | 255 |
2,021 | 283 |
2022-2026 | 1,751 |
PRBP [Member] | |
2,017 | 67 |
2,018 | 58 |
2,019 | 51 |
2,020 | 43 |
2,021 | 37 |
2022-2026 | $ 105 |
Note 18 - Accumulated Other 122
Note 18 - Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance | $ (2,409) | $ (412) | $ (11,704) |
Other comprehensive (loss) income | (1,223) | (1,997) | 11,292 |
Reclassification due to the adoption of ASU No. 2018-02 | (782) | ||
Balance | (4,414) | (2,409) | (412) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Balance | (1,231) | 774 | 1,316 |
Other comprehensive (loss) income | (1,123) | (2,005) | (542) |
Reclassification due to the adoption of ASU No. 2018-02 | (507) | ||
Balance | (2,861) | (1,231) | 774 |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Balance | (25) | ||
Other comprehensive (loss) income | 25 | ||
Reclassification due to the adoption of ASU No. 2018-02 | |||
Balance | |||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||
Balance | (1,178) | (1,186) | (12,995) |
Other comprehensive (loss) income | (100) | 8 | 11,809 |
Reclassification due to the adoption of ASU No. 2018-02 | (275) | ||
Balance | $ (1,553) | $ (1,178) | $ (1,186) |
Note 18 - Accumulated Other 123
Note 18 - Accumulated Other Comprehensive Loss - Amounts Reclassified from Each Component of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Realization of (loss) gain on sale of investment securities available for sale | $ (101) | $ 77 | $ (931) | |||||||||
Less: income tax (expense) benefit | $ (19,924) | $ (4,766) | $ (4,905) | $ (4,635) | $ (4,684) | $ (4,346) | $ (4,810) | $ (4,328) | (34,230) | (18,168) | (9,172) | |
Net of income tax | 6,200 | (10,739) | (9,433) | (9,044) | (9,408) | (9,374) | (8,933) | (8,321) | (23,016) | (36,036) | (16,754) | |
Recognition of net actuarial loss due to settlement | 17,377 | |||||||||||
Total | $ (13,724) | $ (15,505) | $ (14,338) | $ (13,679) | $ (14,092) | $ (13,720) | $ (13,743) | $ (12,649) | (57,246) | (54,204) | (25,926) | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||
Less: income tax (expense) benefit | 33 | 34 | 6,787 | |||||||||
Net of income tax | 62 | 64 | 12,603 | |||||||||
Total | 95 | 98 | 19,390 | |||||||||
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 | 101 | (77) | 931 | |||||||||
Less: income tax (expense) benefit | (35) | 27 | (326) | |||||||||
Net of income tax | 66 | (50) | 605 | |||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||||||||
Less: income tax (expense) benefit | 214 | |||||||||||
Net of income tax | (397) | |||||||||||
Realized loss on cash flow hedge | (611) | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||||||||||
Amortization of net loss included in net periodic pension costs* | [1] | 95 | 98 | 2,013 | ||||||||
Recognition of net actuarial loss due to settlement | 17,377 | |||||||||||
Amortization of prior service cost included in net periodic pension costs* | [1] | |||||||||||
Gain on curtailment of SERP II | ||||||||||||
[1] | Accumulated other comprehensive loss components are included in the computation of net periodic pension cost. See Note 17 - Pension and Other Post-Retirement Benefit Plans. |
Note 19 - Income Taxes (Details
Note 19 - Income Taxes (Details Textual) - USD ($) $ in Thousands | Dec. 22, 2017 | Dec. 15, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | |||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 15,200 | |||||
Reclassification of Tax Effects From AOCI | ||||||
Liability for Uncertainty in Income Taxes, Current | 0 | $ 0 | $ 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 | |||||
Operating Loss Carryforwards, Additional Utilization, Acquired from Business Combination | $ 6,000 | |||||
Unrecognized Tax Benefits, Increase Resulting from Acquisition | 2,500 | |||||
Internal Revenue Service (IRS) [Member] | ||||||
Operating Loss Carryforwards | 52,900 | |||||
Operating Loss Carry forwards, Expiration Year | 2,030 | |||||
Operating Loss Carryforwards, Annual Limitation | 2,700 | |||||
Alternative Minimum Tax Credit Carry Forward | 1,100 | |||||
Retained Earnings [Member] | ||||||
Reclassification of Tax Effects From AOCI | 782 | |||||
Scenario, Forecast [Member] | ||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||||
Royal Bank America [Member] | ||||||
Deferred Tax Assets, Business Combination, Purchase Accounting Adjustment and Net Deferred Tax Assets Assumed, Increase (Decrease), Amount | 33,100 | |||||
First Bank of Delaware [Member] | Internal Revenue Service (IRS) [Member] | ||||||
Operating Loss Carryforwards | 40 | |||||
Royal Bancshares of Pennsylvania, Inc. [Member] | Internal Revenue Service (IRS) [Member] | ||||||
Alternative Minimum Tax Credit Carry Forward | 548 | |||||
Deferred Tax Assets for State Net Operating Losses [Member] | ||||||
Deferred Tax Assets, Valuation Allowance | $ 211 | $ 445 |
Note 19 - Income Taxes - Compon
Note 19 - Income Taxes - Components of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Loan and lease loss reserve | $ 3,948 | $ 6,492 |
Other reserves | 3,169 | 3,611 |
Net operating loss carry-forward | 11,113 | 471 |
Alternative minimum tax credits | 1,116 | 567 |
Unrealized depreciation of available for sale securities | 761 | 663 |
Defined benefit plans | 1,361 | 2,068 |
RBPI Merger Fair Values | 4,726 | |
Total deferred tax asset | 26,194 | 13,872 |
Deferred tax liabilities: | ||
Other reserves | 19 | 52 |
Originated MSRs | 1,253 | 1,969 |
Amortizing fair value adjustments | 970 | 1,336 |
Other | 53 | |
Total deferred tax liability | 2,295 | 3,357 |
Total net deferred tax asset | $ 23,899 | $ 10,515 |
Note 19 - Income Taxes - Com126
Note 19 - Income Taxes - Components of Provision (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current | $ 13,812 | $ 16,492 | $ 12,006 | ||||||||
Deferred | 20,418 | 1,676 | (2,834) | ||||||||
Total income tax expense | $ 19,924 | $ 4,766 | $ 4,905 | $ 4,635 | $ 4,684 | $ 4,346 | $ 4,810 | $ 4,328 | $ 34,230 | $ 18,168 | $ 9,172 |
Note 19 - Income Taxes - Differ
Note 19 - 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, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Computed tax expense at statutory federal rate, amount | $ 20,036 | $ 18,972 | $ 9,074 | ||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | ||||||||
Tax-exempt income, amount | $ (600) | $ (758) | $ (622) | ||||||||
Tax-exempt income | (1.00%) | (1.40%) | (2.40%) | ||||||||
State tax (net of federal tax benefit), amount | $ 303 | $ 425 | $ 299 | ||||||||
State tax (net of federal tax benefit) | 0.50% | 0.80% | 1.20% | ||||||||
Non-deductible merger expense, amount | $ 455 | $ 105 | |||||||||
Non-deductible merger expense | 0.80% | 0.40% | |||||||||
Excess tax benefit – stock based compensation, amount | $ (1,049) | $ (565) | |||||||||
Excess tax benefit – stock based compensation | (1.80%) | (1.00%) | |||||||||
Adjustment to net deferred tax assets for enacted changes in tax laws and rates, amount | $ 15,193 | ||||||||||
Adjustment to net deferred tax assets for enacted changes in tax laws and rates | 26.50% | ||||||||||
Other, net, amount | $ (108) | $ 94 | $ 316 | ||||||||
Other, net | (0.20%) | 0.10% | 1.20% | ||||||||
Total income tax expense | $ 19,924 | $ 4,766 | $ 4,905 | $ 4,635 | $ 4,684 | $ 4,346 | $ 4,810 | $ 4,328 | $ 34,230 | $ 18,168 | $ 9,172 |
Total income tax expense | 59.80% | 33.50% | 35.40% |
Note 19 - Income Taxes - Com128
Note 19 - Income Taxes - Components of Provisional Tax Expense Related to Tax Law Changes (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Deferred taxes related to items recognized in continuing operations | $ 14,410 |
Deferred taxes on net actuarial loss on defined benefit post-retirement benefit plans | 275 |
Deferred taxes on net unrealized losses on available for sale investment securities | 507 |
$ 15,192 |
Note 20 - Stock-based Compen129
Note 20 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2015 | Aug. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2017 | Apr. 30, 2015 | Apr. 28, 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, Nonvested, Number of Shares | 0 | 0 | 0 | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | ||||||
Restricted Stock Units (RSUs) [Member] | |||||||||
Allocated Share-based Compensation Expense | $ 752 | ||||||||
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 109 days | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 40,137 | 33,142 | 24,514 | ||||||
Performance Shares [Member] | |||||||||
Allocated Share-based Compensation Expense | $ 1,300 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 2,500 | ||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 292 days | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 21,330 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 20.91% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.43% | ||||||||
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 | 945,002 | 445,002 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 500,000 |
Note 20 - Stock-based Compen130
Note 20 - 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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Balance (in shares) | 182,843 | |||
Options, RSAs or PSAs [Member] | ||||
Balance (in shares) | 552,959 | 617,765 | ||
Shares authorized for grant (in shares) | 500,000 | |||
Expiration of unexercised options (in shares) | 250 | 3,180 | ||
Balance (in shares) | 479,953 | 552,959 | 617,765 | |
Restricted Stock Units (RSUs) [Member] | ||||
Balance (in shares) | 58,862 | 42,802 | 46,281 | |
Grants (in shares) | (40,137) | (33,142) | (24,514) | |
Forfeitures (in shares) | 4,305 | 1,250 | ||
Balance (in shares) | 75,707 | 58,862 | 42,802 | |
Performance Stock Awards [Member] | ||||
Balance (in shares) | 192,844 | 216,820 | 217,318 | |
Grants (in shares) | (41,323) | (45,346) | (92,474) | |
Non-vesting (in shares) | [1],[2] | 10,088 | 25,929 | |
Forfeitures (in shares) | 3,899 | 2,344 | 22,801 | |
Balance (in shares) | 168,453 | 192,844 | 216,820 | |
Options, PSAs or PSUs [Member] | ||||
Forfeitures (in shares) | 22,801 | |||
[1] | Non-vesting PSAs and PSUs represent awards that did not meet their performance criteria, were cancelled and are available for future grant. | |||
[2] | 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 - Stock-based Compen131
Note 20 - Stock-based Compensation - Other Stock Option Information (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Options outstanding, Shares (in shares) | 185,023 | 290,853 | 447,966 |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 21.03 | $ 20.88 | $ 20.94 |
Options outstanding, Weighted average grant date fair value (in dollars per share) | $ 4.88 | $ 4.85 | $ 4.75 |
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) | (250) | (3,180) | |
Expired, Weighted average exercise price (in dollars per share) | $ 22 | $ 21.33 | |
Expired, Weighted average grant date fair value (in dollars per share) | $ 4.90 | $ 4.84 | |
Exercised, Shares (in shares) | (69,527) | (105,830) | (335,189) |
Exercised, Weighted average exercise price (in dollars per share) | $ 21.55 | $ 20.61 | $ 19.25 |
Exercised, Weighted average grant date fair value (in dollars per share) | $ 4.91 | $ 7.32 | $ 4.62 |
Options outstanding, , Shares (in shares) | 115,246 | 185,023 | 290,853 |
Options outstanding, Weighted average exercise price (in dollars per share) | $ 20.73 | $ 21.03 | $ 20.88 |
Options outstanding, Weighted average grant date fair value (in dollars per share) | $ 4.86 | $ 4.88 | $ 4.85 |
Note 20 - Stock-based Compen132
Note 20 - Stock-based Compensation - Information Related to Options (Details) | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Options outstanding options outstanding (in shares) | shares | 115,246 |
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) | 1 year 76 days |
Options exercisable weighted average exercise price (in dollars per share) | $ 12.58 |
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 | 65,050 |
Options outstanding remaining contractual life (Year) | 1 year 233 days |
Options exercisable weighted average exercise price (in dollars per share) | $ 18.27 |
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) | $ 21.30 |
Options outstanding options outstanding (in shares) | shares | 563 |
Options outstanding remaining contractual life (Year) | 6 years 18 days |
Options exercisable weighted average exercise price (in dollars per share) | $ 18.33 |
Exercise Price Range Four [Member] | |
Range of Exercise Prices, minimum (in dollars per share) | 21.31 |
Range of Exercise Prices, maximum (in dollars per share) | $ 24.27 |
Options outstanding options outstanding (in shares) | shares | 48,250 |
Options outstanding remaining contractual life (Year) | 229 days |
Options exercisable weighted average exercise price (in dollars per share) | $ 24.27 |
Note 20 - Stock-based Compen133
Note 20 - 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, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Proceeds from exercise of stock options | $ 1,498 | $ 2,181 | $ 6,452 |
Related tax benefit recognized | 506 | 256 | 515 |
Proceeds of options exercised | 2,004 | 2,437 | 6,967 |
Intrinsic value of options exercised | $ 1,445 | $ 1,125 | $ 3,615 |
Note 20 - Stock-based Compen134
Note 20 - Stock-based Compensation - Options Outstanding and Exercisable (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Options outstanding (in shares) | 115,246 | 185,023 | 290,853 | 447,966 |
Exercisable options (in shares) | 115,246 | 185,023 | 290,853 | |
Weighted average exercise price, options outstanding (in dollars per share) | $ 20.73 | $ 21.03 | $ 20.88 | $ 20.94 |
Weighted average exercise price, exercisable options (in dollars per share) | $ 20.73 | $ 21.03 | $ 20.88 | |
Aggregate intrinsic value, options outstanding | $ 2,704,824 | $ 3,907,758 | $ 2,280,288 | |
Aggregate intrinsic value, exercisable options | $ 2,704,824 | $ 3,907,758 | $ 2,280,288 | |
Weighted average contractual term, options outstanding (Year) | 1 year 73 days | 2 years | 2 years 328 days | |
Weighted average contractual term, exercisable options (Year) | 1 year 73 days | 2 years | 2 years 328 days |
Note 20 - Stock-based Compen135
Note 20 - Stock-based Compensation - Unvested Restricted Stock Units Awards (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Balance (in shares) | 182,843 | ||
Restricted Stock Units (RSUs) [Member] | |||
Balance (in shares) | 58,862 | 42,802 | 46,281 |
Balance, weighted average grant date fair value (in dollars per share) | $ 29.57 | $ 28.58 | $ 23.17 |
Granted (in shares) | 40,137 | 33,142 | 24,514 |
Granted, weighted average grant date fair value (in dollars per share) | $ 41.23 | $ 29.67 | $ 29.83 |
Vested (in shares) | (18,987) | (15,832) | (27,993) |
Vested, weighted average grant date fair value (in dollars per share) | $ 29.40 | $ 27.14 | $ 20.73 |
Forfeited (in shares) | (4,305) | (1,250) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 29.54 | $ 29.12 | |
Balance (in shares) | 75,707 | 58,862 | 42,802 |
Balance, weighted average grant date fair value (in dollars per share) | $ 35.80 | $ 29.57 | $ 28.58 |
Note 20 - Stock-based Compen136
Note 20 - Stock-based Compensation - Unvested Performance Stock Awards (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Balance (in shares) | 182,843 | |||
Performance Stock Awards [Member] | ||||
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 | |
Granted (in shares) | 41,323 | 45,346 | 92,474 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 37.86 | $ 28.34 | $ 16.42 | |
Vested (in shares) | (61,815) | (56,890) | (44,242) | |
Vested, weighted average grant date fair value (in dollars per share) | $ 15.05 | $ 13.38 | $ 11.80 | |
Non-vesting (in shares) | [1],[2] | (10,088) | (25,929) | |
Non-vesting, Weighted average grant date fair value (in dollars per share) | [2] | $ 13.38 | $ 11.80 | |
Forfeited (in shares) | (3,899) | (2,344) | (22,801) | |
Forfeited, weighted average grant date fair value (in dollars per share) | $ 21.45 | $ 15.37 | $ 14.75 | |
Balance (in shares) | 168,453 | 192,844 | 216,820 | |
Balance, weighted average grant date fair value (in dollars per share) | $ 24.76 | $ 18.77 | $ 15.07 | |
[1] | Non-vesting PSAs and PSUs represent awards that did not meet their performance criteria, were cancelled and are available for future grant. | |||
[2] | 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 21 - Earnings Per Share -
Note 21 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||||||||
Numerator - Net income available to common shareholders | $ (6,200) | $ 10,739 | $ 9,433 | $ 9,044 | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ 23,016 | $ 36,036 | $ 16,754 | |||||||||
Denominator for basic earnings per share – Weighted average shares outstanding* (in shares) | [1] | 17,150,125 | 16,859,623 | 17,488,325 | ||||||||||||||||
Effect of dilutive potential common shares (in shares) | 248,798 | 168,499 | 267,996 | |||||||||||||||||
Denominator for diluted earnings per share – Adjusted weighted average shares outstanding (in shares) | 17,398,923 | 17,028,122 | 17,756,321 | |||||||||||||||||
Basic earnings per share (in dollars per share) | $ (0.35) | [2] | $ 0.63 | [2] | $ 0.56 | [2] | $ 0.53 | [2] | $ 0.56 | [2] | $ 0.56 | [2] | $ 0.53 | [2] | $ 0.49 | [2] | $ 1.34 | $ 2.14 | $ 0.96 | |
Diluted earnings per share (in dollars per share) | $ (0.35) | [2] | $ 0.62 | [2] | $ 0.55 | [2] | $ 0.53 | [2] | $ 0.55 | [2] | $ 0.55 | [2] | $ 0.52 | [2] | $ 0.49 | [2] | $ 1.32 | $ 2.12 | $ 0.94 | |
Antidilutive shares excluded from computation of average dilutive earnings per share (in shares) | 27,159 | |||||||||||||||||||
[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 22 - Related Party Tran138
Note 22 - Related Party Transactions (Details Textual) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Loans and Leases Receivable, Related Parties | $ 8.1 | $ 11.7 |
Related Party Deposit Liabilities | $ 4.8 | $ 6 |
Note 23 - Financial Instrume139
Note 23 - Financial Instruments With Off-Balance Sheet Risk, Contingencies and Concentration of Credit Risk (Details Textual) xbrli-pure in Thousands, $ in Thousands | Dec. 31, 2017USD ($) |
Bank Acceptances Executed and Outstanding | $ 0 |
Loss Contingency, Pending Claims, Number | 0 |
Standby Letters of Credit [Member] | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 17,000 |
Commitments to Extend Credit [Member] | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 748,300 |
Note 24 - Dividend Restricti140
Note 24 - Dividend Restrictions (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Retained Earnings, Unappropriated | $ 38,500 |
Proceeds from Dividends Received | 0 |
Dividend Distribution Restrictions, Amount of Net Income (Loss) | $ 38,500 |
Note 25 - Regulatory Capital141
Note 25 - Regulatory Capital Requirements (Details Textual) - USD ($) $ in Thousands | Dec. 15, 2017 | Jan. 01, 2015 | Dec. 31, 2017 | Dec. 31, 2016 |
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 | |||
Request for Waiver Value Approved in Period | $ 0 | |||
Stock Repurchased During Period, Shares | 0 | 862,500 | ||
Continental Bank Holdings, Inc. ("CBH") [Member] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 3,098,754 | 3,878,383 | ||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 136,700 | |||
Dividend Reinvestment and Share Purchase Plan [Member] | ||||
Stock Issued During Period, Shares, New Issues | 0 |
Note 25 - Regulatory Capital142
Note 25 - Regulatory Capital Requirements - Capital Amounts and Ratios (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Total (Tier II) capital to risk weighted assets, actual, amount | $ 461,414 | $ 318,191 |
Total (Tier II) capital to risk weighted assets, actual, ratio | 13.85% | 12.35% |
Total (Tier II) capital to risk weighted assets, minimum to be well capitalized, amount | $ 333,068 | $ 257,651 |
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 | $ 344,964 | $ 270,845 |
Tier I capital to risk weighted assets, actual, ratio | 10.36% | 10.51% |
Tier I capital to risk weighted assets, minimum to be well capitalized, amount | $ 266,454 | $ 206,121 |
Tier I capital to risk weighted assets, minimum to be well capitalized, ratio | 8.00% | 8.00% |
Common equity tier I capital to risk weighted assets, actual, amount | $ 326,454 | $ 270,845 |
Common equity tier I capital to risk weighted assets, actual, ratio | 9.80% | 10.51% |
Common equity tier I capital to risk weighted assets, minimum to be well capitalized, amount | $ 216,494 | $ 167,474 |
Common equity tier I capital to risk weighted assets, minimum to be well capitalized, ratio | 6.50% | 6.50% |
Tier I capital to average assets, actual, amount | $ 344,964 | $ 270,845 |
Tier I capital to average assets, actual, ratio | 10.04% | 8.73% |
Tier I capital to average assets, minimum to be well capitalized, amount | $ 171,804 | $ 155,035 |
Tier I capital to average assets, minimum to be well capitalized, ratio | 5.00% | 5.00% |
Bryn Mawr Trust Company [Member] | ||
Total (Tier II) capital to risk weighted assets, actual, amount | $ 387,067 | $ 287,897 |
Total (Tier II) capital to risk weighted assets, actual, ratio | 11.65% | 11.19% |
Total (Tier II) capital to risk weighted assets, minimum to be well capitalized, amount | $ 332,388 | $ 257,179 |
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 | $ 369,033 | $ 270,083 |
Tier I capital to risk weighted assets, actual, ratio | 11.10% | 10.50% |
Tier I capital to risk weighted assets, minimum to be well capitalized, amount | $ 265,910 | $ 205,743 |
Tier I capital to risk weighted assets, minimum to be well capitalized, ratio | 8.00% | 8.00% |
Common equity tier I capital to risk weighted assets, actual, amount | $ 369,033 | $ 270,083 |
Common equity tier I capital to risk weighted assets, actual, ratio | 11.10% | 10.50% |
Common equity tier I capital to risk weighted assets, minimum to be well capitalized, amount | $ 216,052 | $ 167,166 |
Common equity tier I capital to risk weighted assets, minimum to be well capitalized, ratio | 6.50% | 6.50% |
Tier I capital to average assets, actual, amount | $ 369,033 | $ 270,083 |
Tier I capital to average assets, actual, ratio | 10.75% | 8.73% |
Tier I capital to average assets, minimum to be well capitalized, amount | $ 171,609 | $ 154,761 |
Tier I capital to average assets, minimum to be well capitalized, ratio | 5.00% | 5.00% |
Note 26 - Selected Quarterly143
Note 26 - Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||||||||
Total interest income | $ 34,798 | $ 33,198 | $ 31,237 | $ 30,326 | $ 29,922 | $ 29,514 | $ 29,286 | $ 28,269 | $ 129,559 | $ 116,991 | $ 108,542 | ||||||||
Total interest expense | 4,477 | 3,760 | 3,272 | 2,923 | 2,932 | 2,797 | 2,659 | 2,367 | 14,432 | 10,755 | 8,415 | ||||||||
Net interest income | 30,321 | 29,438 | 27,965 | 27,403 | 26,990 | 26,717 | 26,627 | 25,902 | 115,127 | 106,236 | 100,127 | ||||||||
Provision for loan and lease losses | 1,077 | 1,333 | (83) | 291 | 1,059 | 1,412 | 445 | 1,410 | 2,618 | 4,326 | 4,396 | ||||||||
Total non-interest income | 15,536 | 15,584 | 14,785 | 13,227 | 13,248 | 13,786 | 13,781 | 13,153 | 59,132 | 53,968 | 55,785 | ||||||||
Total non-interest expenses* | 31,056 | 28,184 | 28,495 | 26,660 | 25,087 | 25,371 | 26,220 | 24,996 | 114,395 | 101,674 | 125,590 | ||||||||
Income before income taxes | 13,724 | 15,505 | 14,338 | 13,679 | 14,092 | 13,720 | 13,743 | 12,649 | 57,246 | 54,204 | 25,926 | ||||||||
Income tax expense | 19,924 | 4,766 | 4,905 | 4,635 | 4,684 | 4,346 | 4,810 | 4,328 | 34,230 | 18,168 | 9,172 | ||||||||
Net Income | $ (6,200) | $ 10,739 | $ 9,433 | $ 9,044 | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ 23,016 | $ 36,036 | $ 16,754 | ||||||||
Basic earnings per common share (in dollars per share) | $ (0.35) | [1] | $ 0.63 | [1] | $ 0.56 | [1] | $ 0.53 | [1] | $ 0.56 | [1] | $ 0.56 | [1] | $ 0.53 | [1] | $ 0.49 | [1] | $ 1.34 | $ 2.14 | $ 0.96 |
Diluted earnings per common share (in dollars per share) | (0.35) | [1] | 0.62 | [1] | 0.55 | [1] | 0.53 | [1] | 0.55 | [1] | 0.55 | [1] | 0.52 | [1] | 0.49 | [1] | 1.32 | 2.12 | 0.94 |
Dividends declared per share (in dollars per share) | $ 0.22 | $ 0.22 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.20 | $ 0.20 | $ 0.86 | $ 0.82 | $ 0.78 | ||||||||
[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 27 - Parent Company - O144
Note 27 - Parent Company - Only Financial Statements - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | ||||
Cash | $ 60,024 | $ 50,765 | $ 143,067 | $ 219,269 |
Premises and equipment, net | 54,458 | 41,778 | ||
Goodwill | 179,889 | 104,765 | 104,765 | |
Other assets | 46,185 | 23,168 | ||
Total assets | 4,449,720 | 3,421,530 | 3,031,000 | |
Liabilities and shareholders’ equity: | ||||
Subordinated notes | 98,416 | 29,532 | ||
Junior subordinated debentures | 21,416 | |||
Other liabilities | 47,439 | 34,569 | ||
Total liabilities | 3,921,601 | 3,040,403 | ||
Common stock, par value $1; authorized 100,000,000 shares; issued 24,360,049 and 21,110,968 shares as of December 31, 2017 and December 31, 2016, respectively, and outstanding of 20,161,395 and 16,939,715 as of December 31, 2017 and December 31, 2016, respectively | 24,360 | 21,111 | ||
Paid-in capital in excess of par value | 371,486 | 232,806 | ||
Less: Common stock in treasury at cost - 4,198,654 and 4,171,253 shares as of December 31, 2017 and December 31, 2016, respectively | (68,179) | (66,950) | ||
Accumulated other comprehensive loss, net of tax | (4,414) | (2,409) | (412) | (11,704) |
Retained earnings | 205,549 | 196,569 | ||
Total shareholders’ equity | 528,802 | 381,127 | ||
Total liabilities and shareholders’ equity | 4,449,720 | 3,421,530 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash | 68,535 | 23,663 | $ 37,992 | $ 5,269 |
Investment securities | 458 | 400 | ||
Investments in subsidiaries, as equity in net assets | 580,230 | 384,751 | ||
Premises and equipment, net | 2,189 | 2,288 | ||
Goodwill | 245 | 245 | ||
Other assets | 1,135 | 1,435 | ||
Total assets | 652,792 | 412,782 | ||
Liabilities and shareholders’ equity: | ||||
Subordinated notes | 98,416 | 29,532 | ||
Junior subordinated debentures | 21,416 | |||
Other liabilities | 4,158 | 2,123 | ||
Total liabilities | 123,990 | 31,655 | ||
Common stock, par value $1; authorized 100,000,000 shares; issued 24,360,049 and 21,110,968 shares as of December 31, 2017 and December 31, 2016, respectively, and outstanding of 20,161,395 and 16,939,715 as of December 31, 2017 and December 31, 2016, respectively | 24,360 | 21,111 | ||
Paid-in capital in excess of par value | 371,486 | 232,806 | ||
Less: Common stock in treasury at cost - 4,198,654 and 4,171,253 shares as of December 31, 2017 and December 31, 2016, respectively | (68,179) | (66,950) | ||
Accumulated other comprehensive loss, net of tax | (4,414) | (2,409) | ||
Retained earnings | 205,549 | 196,569 | ||
Total shareholders’ equity | 528,802 | 381,127 | ||
Total liabilities and shareholders’ equity | $ 652,792 | $ 412,782 |
Note 27 - Parent Company - O145
Note 27 - Parent Company - Only Financial Statements - Condensed Balance Sheets (Details) (Parentheticals) - $ / shares | Dec. 31, 2017 | Dec. 31, 2016 |
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) | 24,360,049 | 21,110,968 |
Common stock, shares outstanding (in shares) | 20,161,395 | 16,939,715 |
Treasury stock, shares (in shares) | 4,198,654 | 4,171,253 |
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) | 24,360,049 | 21,110,968 |
Common stock, shares outstanding (in shares) | 20,161,395 | 16,939,715 |
Treasury stock, shares (in shares) | 4,198,654 | 4,171,253 |
Note 27 - Parent Company - O146
Note 27 - Parent Company - Only Financial Statements - Condensed Statements of Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income before equity in undistributed income of subsidiaries | $ 57,246 | $ 54,204 | $ 25,926 | ||||||||
Income before income taxes | $ 13,724 | $ 15,505 | $ 14,338 | $ 13,679 | $ 14,092 | $ 13,720 | $ 13,743 | $ 12,649 | 57,246 | 54,204 | 25,926 |
Income tax expense | 19,924 | 4,766 | 4,905 | 4,635 | 4,684 | 4,346 | 4,810 | 4,328 | 34,230 | 18,168 | 9,172 |
Net Income | $ (6,200) | $ 10,739 | $ 9,433 | $ 9,044 | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | 23,016 | 36,036 | 16,754 |
Parent Company [Member] | |||||||||||
Dividends from subsidiaries | 950 | 17,718 | 34,234 | ||||||||
Net interest and other income | 2,761 | 2,714 | 2,128 | ||||||||
Total operating income | 3,711 | 20,432 | 36,362 | ||||||||
Expenses | 2,782 | 2,443 | 2,140 | ||||||||
Income before equity in undistributed income of subsidiaries | 929 | 17,989 | 34,222 | ||||||||
Equity in undistributed income of subsidiaries | 21,053 | 17,600 | (17,427) | ||||||||
Income before income taxes | 21,982 | 35,589 | 16,795 | ||||||||
Income tax expense | (1,034) | (447) | 41 | ||||||||
Net Income | $ 23,016 | $ 36,036 | $ 16,754 |
Note 27 - Parent Company - O147
Note 27 - Parent Company - Only Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating activities: | |||||||||||
Net Income | $ (6,200) | $ 10,739 | $ 9,433 | $ 9,044 | $ 9,408 | $ 9,374 | $ 8,933 | $ 8,321 | $ 23,016 | $ 36,036 | $ 16,754 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Net amortization of investment premiums and discounts | 2,990 | 3,200 | 3,280 | ||||||||
Stock-based compensation | 2,068 | 1,713 | 1,441 | ||||||||
Other, net | (568) | (970) | 874 | ||||||||
Investing activities: | |||||||||||
Acquisitions, net of cash acquired | 12,301 | 16,129 | |||||||||
Net cash used in investing activities | (186,984) | (497,438) | (130,689) | ||||||||
Financing activities: | |||||||||||
Dividends paid | (14,799) | (13,961) | (13,837) | ||||||||
Net proceeds from issuance of subordinated notes | 68,829 | 29,456 | |||||||||
Net purchase of treasury stock for deferred compensation plans | (115) | (133) | (128) | ||||||||
Net purchase of treasury stock through publicly announced plans | (7,971) | (26,418) | |||||||||
Proceeds from issuance of common stock | 20 | ||||||||||
Excess tax benefit from stock-based compensation | 783 | ||||||||||
Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation | (1,140) | (745) | |||||||||
Proceeds from exercise of stock options | 1,498 | 2,181 | 6,452 | ||||||||
Net cash provided by financing activities | 163,311 | 350,908 | 16,559 | ||||||||
Change in cash and cash equivalents | 9,259 | (92,302) | (76,202) | ||||||||
Cash and cash equivalents at beginning of period | 50,765 | 143,067 | 50,765 | 143,067 | 219,269 | ||||||
Cash and cash equivalents at end of period | 60,024 | 50,765 | 60,024 | 50,765 | 143,067 | ||||||
Parent Company [Member] | |||||||||||
Operating activities: | |||||||||||
Net Income | 23,016 | 36,036 | 16,754 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Equity in undistributed income of subsidiaries | (21,053) | (17,600) | 17,427 | ||||||||
Net amortization of investment premiums and discounts | 154 | 151 | 121 | ||||||||
Stock-based compensation | 2,068 | 1,713 | 1,441 | ||||||||
Other, net | 1,241 | 1,000 | 508 | ||||||||
Net cash provided by operating activities | 5,426 | 21,300 | 36,251 | ||||||||
Investing activities: | |||||||||||
Investment in subsidiaries | (15,300) | (15,000) | |||||||||
Net change in trading securities | (58) | 16 | |||||||||
Acquisitions, net of cash acquired | 531 | 128 | |||||||||
Net cash used in investing activities | (14,827) | (15,000) | 144 | ||||||||
Financing activities: | |||||||||||
Dividends paid | (14,799) | (13,961) | (13,837) | ||||||||
Net proceeds from issuance of subordinated notes | 68,829 | 29,456 | |||||||||
Net purchase of treasury stock for deferred compensation plans | (115) | (133) | (128) | ||||||||
Net purchase of treasury stock through publicly announced plans | (7,971) | (26,418) | |||||||||
Proceeds from issuance of common stock | 20 | ||||||||||
Excess tax benefit from stock-based compensation | 783 | ||||||||||
Cash payments to taxing authorities on employees' behalf from shares withheld from stock-based compensation | (1,140) | (745) | |||||||||
Proceeds from exercise of stock options | 1,498 | 2,181 | 6,452 | ||||||||
Net cash provided by financing activities | 54,273 | (20,629) | (3,672) | ||||||||
Change in cash and cash equivalents | 44,872 | (14,329) | 32,723 | ||||||||
Cash and cash equivalents at beginning of period | $ 23,663 | $ 37,992 | 23,663 | 37,992 | 5,269 | ||||||
Cash and cash equivalents at end of period | $ 68,535 | $ 23,663 | $ 68,535 | $ 23,663 | $ 37,992 |
Note 28 - Segment Information -
Note 28 - Segment Information - Detail Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Net interest income | $ 30,321 | $ 29,438 | $ 27,965 | $ 27,403 | $ 26,990 | $ 26,717 | $ 26,627 | $ 25,902 | $ 115,127 | $ 106,236 | $ 100,127 | |
Provision for loan and lease losses | 1,077 | 1,333 | (83) | 291 | 1,059 | 1,412 | 445 | 1,410 | 2,618 | 4,326 | 4,396 | |
Net interest income after provision for loan and lease losses | 112,509 | 101,910 | 95,731 | |||||||||
Fees for wealth management services | 38,735 | 36,690 | 36,894 | |||||||||
Service charges on deposits | 2,608 | 2,791 | 2,927 | |||||||||
Loan servicing and other fees | 2,106 | 1,939 | 2,087 | |||||||||
Net gain on sale of loans | 2,441 | 3,048 | 2,847 | |||||||||
Net gain (loss) on sale of investment securities available for sale | 101 | (77) | 931 | |||||||||
Net (loss) gain on sale of other real estate owned ("OREO") | (104) | (76) | 123 | |||||||||
Insurance commissions. | 4,589 | 3,722 | 3,745 | |||||||||
Capital markets revenue | 2,396 | |||||||||||
Other operating income | 6,260 | 5,931 | 6,231 | |||||||||
Total non-interest income | 15,536 | 15,584 | 14,785 | 13,227 | 13,248 | 13,786 | 13,781 | 13,153 | 59,132 | 53,968 | 55,785 | |
Salaries and wages | 53,251 | 47,411 | 44,575 | |||||||||
Employee benefits | 10,452 | 9,548 | 10,205 | |||||||||
Recognition of net actuarial loss due to settlement | 17,377 | |||||||||||
Occupancy and bank premises | 9,906 | 9,611 | 10,305 | |||||||||
Amortization of intangible assets | 2,734 | 3,498 | 3,827 | |||||||||
Professional fees | 3,268 | 3,659 | 3,353 | |||||||||
Other operating expenses | 34,784 | 27,947 | 35,948 | |||||||||
Total non-interest expenses* | 31,056 | $ 28,184 | $ 28,495 | $ 26,660 | 25,087 | $ 25,371 | $ 26,220 | $ 24,996 | 114,395 | 101,674 | 125,590 | |
Segment profit | 57,246 | 54,204 | 25,926 | |||||||||
Intersegment (revenues) expenses* | [1] | |||||||||||
Pre-tax segment profit after eliminations | $ 57,246 | $ 54,204 | $ 25,926 | |||||||||
% of segment pre-tax profit after eliminations | 100.00% | 100.00% | 100.00% | |||||||||
Segment assets (dollars in millions) | 4,449,720 | 3,421,530 | $ 4,449,720 | $ 3,421,530 | $ 3,031,000 | |||||||
Banking [Member] | ||||||||||||
Net interest income | 115,124 | 106,233 | 100,124 | |||||||||
Provision for loan and lease losses | 2,618 | 4,326 | 4,396 | |||||||||
Net interest income after provision for loan and lease losses | 112,506 | 101,907 | 95,728 | |||||||||
Fees for wealth management services | ||||||||||||
Service charges on deposits | 2,608 | 2,791 | 2,927 | |||||||||
Loan servicing and other fees | 2,106 | 1,939 | 2,087 | |||||||||
Net gain on sale of loans | 2,441 | 3,048 | 2,847 | |||||||||
Net gain (loss) on sale of investment securities available for sale | 101 | (77) | 931 | |||||||||
Net (loss) gain on sale of other real estate owned ("OREO") | (104) | (76) | 123 | |||||||||
Insurance commissions. | ||||||||||||
Capital markets revenue | 2,396 | |||||||||||
Other operating income | 6,063 | 5,773 | 6,082 | |||||||||
Total non-interest income | 15,611 | 13,398 | 14,997 | |||||||||
Salaries and wages | 36,559 | 32,321 | 30,391 | |||||||||
Employee benefits | 6,632 | 6,257 | 7,298 | |||||||||
Recognition of net actuarial loss due to settlement | 17,377 | |||||||||||
Occupancy and bank premises | 8,208 | 8,005 | 8,662 | |||||||||
Amortization of intangible assets | 783 | 872 | 1,172 | |||||||||
Professional fees | 2,998 | 3,516 | 3,227 | |||||||||
Other operating expenses | 30,323 | 24,112 | 31,975 | |||||||||
Total non-interest expenses* | 85,503 | 75,083 | 100,102 | |||||||||
Segment profit | 42,614 | 40,222 | 10,623 | |||||||||
Intersegment (revenues) expenses* | [1] | (448) | (396) | (422) | ||||||||
Pre-tax segment profit after eliminations | $ 42,166 | $ 39,826 | $ 10,201 | |||||||||
% of segment pre-tax profit after eliminations | 73.70% | 73.50% | 39.30% | |||||||||
Segment assets (dollars in millions) | 4,398,500 | 3,377,100 | $ 4,398,500 | $ 3,377,100 | $ 2,983,200 | |||||||
Wealth [Member] | ||||||||||||
Net interest income | 3 | 3 | 3 | |||||||||
Provision for loan and lease losses | ||||||||||||
Net interest income after provision for loan and lease losses | 3 | 3 | 3 | |||||||||
Fees for wealth management services | 38,735 | 36,690 | 36,894 | |||||||||
Service charges on deposits | ||||||||||||
Loan servicing and other fees | ||||||||||||
Net gain on sale of loans | ||||||||||||
Net gain (loss) on sale of investment securities available for sale | ||||||||||||
Net (loss) gain on sale of other real estate owned ("OREO") | ||||||||||||
Insurance commissions. | 4,589 | 3,722 | 3,745 | |||||||||
Capital markets revenue | ||||||||||||
Other operating income | 197 | 158 | 149 | |||||||||
Total non-interest income | 43,521 | 40,570 | 40,788 | |||||||||
Salaries and wages | 16,692 | 15,090 | 14,184 | |||||||||
Employee benefits | 3,820 | 3,291 | 2,907 | |||||||||
Recognition of net actuarial loss due to settlement | ||||||||||||
Occupancy and bank premises | 1,698 | 1,606 | 1,643 | |||||||||
Amortization of intangible assets | 1,951 | 2,626 | 2,655 | |||||||||
Professional fees | 270 | 143 | 126 | |||||||||
Other operating expenses | 4,461 | 3,835 | 3,973 | |||||||||
Total non-interest expenses* | 28,892 | 26,591 | 25,488 | |||||||||
Segment profit | 14,632 | 13,982 | 15,303 | |||||||||
Intersegment (revenues) expenses* | [1] | 448 | 396 | 422 | ||||||||
Pre-tax segment profit after eliminations | $ 15,080 | $ 14,378 | $ 15,725 | |||||||||
% of segment pre-tax profit after eliminations | 26.30% | 26.50% | 60.70% | |||||||||
Segment assets (dollars in millions) | $ 51,200 | $ 44,400 | $ 51,200 | $ 44,400 | $ 47,800 | |||||||
[1] | Inter-segment revenues consist of rental payments, interest on deposits and management fees. |
Note 28 - Segment Informatio149
Note 28 - Segment Information - Wealth Management Segment Information (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Assets under management, administration, supervision and brokerage | $ 12,968.7 | $ 11,328.5 |