Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 01, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | SUMMIT FINANCIAL GROUP INC | |
Entity Central Index Key | 811,808 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 12,428,342 |
Consolidated Balance Sheets (un
Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | [1] | Sep. 30, 2016 |
ASSETS | ||||
Cash and due from banks | $ 9,220 | $ 4,262 | $ 25,067 | |
Interest bearing deposits with other banks | 41,994 | 42,354 | 9,432 | |
Cash and cash equivalents | 51,214 | 46,616 | 34,499 | |
Securities available for sale | 328,726 | 266,542 | 262,102 | |
Other investments | 12,170 | 12,942 | 13,182 | |
Loans held for sale | 220 | 176 | 0 | |
Loans, net | 1,559,328 | 1,307,862 | 1,234,605 | |
Property held for sale | 22,622 | 24,504 | 24,767 | |
Premises and equipment, net | 34,220 | 23,737 | 21,802 | |
Accrued interest receivable | 7,979 | 6,167 | 5,470 | |
Goodwill and other intangible assets | 27,879 | 13,652 | 7,348 | |
Cash surrender value of life insurance policies | 41,076 | 39,143 | 38,504 | |
Other assets | 15,702 | 17,306 | 15,357 | |
Total assets | 2,101,136 | 1,758,647 | 1,657,636 | |
Deposits | ||||
Non interest bearing | 215,910 | 149,737 | 122,652 | |
Interest bearing | 1,400,858 | 1,145,782 | 1,034,132 | |
Total deposits | 1,616,768 | 1,295,519 | 1,156,784 | |
Short-term borrowings | 202,988 | 224,461 | 234,657 | |
Long-term borrowings | 45,755 | 46,670 | 74,146 | |
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 | 19,589 | |
Other liabilities | 17,254 | 17,048 | 18,640 | |
Total liabilities | 1,902,354 | 1,603,287 | 1,503,816 | |
Commitments and Contingencies | ||||
Shareholders' Equity | ||||
Preferred Stock, Value, Issued | 0 | 0 | 0 | |
Common stock and related surplus, $2.50 par value; authorized 20,000,000 shares; issued: 2017 - 12,428,342 shares, December 2016 - 10,883,509 shares and September 2016 - 10,857,801 shares; outstanding: 2017 - 12,311,723 shares, December 2016 - 10,736,970 shares and September 2016 - 10,701,841 shares | 80,496 | 46,757 | 46,114 | |
Unallocated common stock held by Employee Stock Ownership Plan 2017 - 116,619 shares, December 2016 - 146,539 shares and September 2016 - 155,960 | (1,260) | (1,583) | (1,684) | |
Retained earnings | 119,157 | 113,448 | 109,808 | |
Accumulated other comprehensive income (loss) | 389 | (3,262) | (418) | |
Total shareholders' equity | 198,782 | 155,360 | 153,820 | |
Total liabilities and shareholders' equity | $ 2,101,136 | $ 1,758,647 | $ 1,657,636 | |
[1] | Derived from audited consolidated financial statements |
Consolidated Balance Sheets (u3
Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Common stock, par value (in dollars per share) | $ 2.50 | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 |
Common stock, shares issued | 12,428,342 | 10,883,509 | 10,857,801 |
Common stock, shares outstanding | 12,311,723 | 10,736,970 | 10,701,841 |
Preferred Stock, Par or Stated Value Per Share | $ 1 | $ 1 | $ 1 |
Preferred Stock, Shares Authorized | 250,000 | 250,000 | 250,000 |
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 116,619 | 146,539 | 155,960 |
Consolidated Statements of Inco
Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest and fees on loans | ||||
Taxable | $ 19,387 | $ 14,009 | $ 54,487 | $ 40,788 |
Tax-exempt | 103 | 133 | 391 | 412 |
Interest and dividends on securities | ||||
Taxable | 1,283 | 1,138 | 3,742 | 3,284 |
Tax-exempt | 1,114 | 621 | 2,855 | 1,857 |
Interest on interest bearing deposits with other banks | 149 | 5 | 466 | 13 |
Total interest income | 22,036 | 15,906 | 61,941 | 46,354 |
Interest expense | ||||
Interest on deposits | 2,963 | 2,209 | 7,987 | 6,533 |
Interest on short-term borrowings | 1,160 | 675 | 3,233 | 1,334 |
Interest on long-term borrowings and subordinated debentures | 681 | 985 | 2,012 | 2,937 |
Total interest expense | 4,804 | 3,869 | 13,232 | 10,804 |
Net interest income | 17,232 | 12,037 | 48,709 | 35,550 |
Provision for loan losses | 375 | 0 | 875 | 500 |
Net interest income after provision for loan losses | 16,857 | 12,037 | 47,834 | 35,050 |
Noninterest income | ||||
Insurance commissions | 1,043 | 1,016 | 3,000 | 3,030 |
Fees and Commissions, Fiduciary and Trust Activities | 589 | 126 | 1,284 | 358 |
Service fees related to deposit accounts | 1,863 | 1,138 | 4,737 | 3,175 |
Realized securities gains, net | 26 | 61 | 58 | 836 |
Bank owned life insurance income | 255 | 258 | 758 | 772 |
Other | 224 | 150 | 659 | 430 |
Total noninterest income | 4,000 | 2,749 | 10,496 | 8,601 |
Noninterest expenses | ||||
Salaries, commissions and employee benefits | 6,610 | 4,819 | 18,555 | 14,265 |
Net occupancy expense | 847 | 525 | 2,239 | 1,576 |
Equipment expense | 1,093 | 716 | 2,859 | 2,059 |
Professional fees | 373 | 270 | 1,012 | 1,171 |
Marketing and Advertising Expense | 137 | 93 | 393 | 280 |
Amortization of intangibles | 448 | 50 | 974 | 150 |
FDIC premiums | 310 | 200 | 815 | 800 |
Business Combination, Acquisition Related Costs | 11 | 80 | 1,575 | 345 |
Foreclosed properties expense | 171 | 100 | 397 | 317 |
Gain on sales of foreclosed properties, net | (29) | (169) | (111) | (451) |
Write-downs of foreclosed properties | 91 | 134 | 538 | 503 |
Litigation Settlement | 0 | 0 | 9,900 | 0 |
Other | 2,385 | 1,601 | 6,253 | 4,395 |
Total noninterest expenses | 12,447 | 8,419 | 45,399 | 25,410 |
Income before income tax expense | 8,410 | 6,367 | 12,931 | 18,241 |
Income tax expense | 2,480 | 2,086 | 3,339 | 5,655 |
Net income | $ 5,930 | $ 4,281 | $ 9,592 | $ 12,586 |
Basic earnings per common share | $ 0.48 | $ 0.40 | $ 0.81 | $ 1.18 |
Diluted earnings per common share | $ 0.48 | $ 0.40 | $ 0.81 | $ 1.18 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 5,930 | $ 4,281 | $ 9,592 | $ 12,586 |
Other comprehensive income (loss): | ||||
Net unrealized gain (loss) on cashflow hedge | 313 | 608 | 980 | (1,332) |
Net unrealized gain (loss) on available for sale debt securities | 383 | (905) | 2,452 | 1,370 |
Net unrealized gain (loss) on other post-retirement benefits | 219 | 0 | ||
Other Comprehensive Income (Loss), Net of Tax | 696 | (297) | 3,651 | 38 |
Total comprehensive income | $ 6,626 | $ 3,984 | $ 13,243 | $ 12,624 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net unrealized gain (loss) on cashflow hedge | $ 497 | $ 965 | $ 1,556 | $ (2,114) |
Net unrealized gain (loss) on cashflow hedge, deferred tax | 184 | 357 | 576 | (782) |
Net unrealized gain (loss) on available for sale debt securities | 608 | (1,437) | 3,892 | 2,175 |
Net unrealized gain (loss) on available for sale debt securities, deferred taxes | 225 | (532) | 1,440 | 805 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 26 | 61 | 58 | 836 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 10 | 23 | 21 | 309 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, before Tax | 0 | 0 | 348 | 0 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Tax | $ 0 | $ 0 | $ 129 | $ 0 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (unaudited) - USD ($) $ in Thousands | Total | Unearned ESOP Shares [Member] | Common Stock and Related Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | |
Beginning Balance at Dec. 31, 2015 | $ 143,744 | $ (1,964) | $ 45,741 | $ 100,423 | $ (456) | |
Comprehensive income: | ||||||
Net income | 12,586 | 12,586 | ||||
Other comprehensive income | 38 | 38 | ||||
Share-based compensation expense | 150 | 150 | ||||
Stock Issued During Period, Value, Employee Stock Ownership Plan | 428 | 280 | 148 | |||
Stock Issued During Period, Value, Dividend Reinvestment Plan | 75 | 75 | ||||
Common stock cash dividends declared | (3,201) | (3,201) | ||||
Ending Balance at Sep. 30, 2016 | 153,820 | (1,684) | 46,114 | 109,808 | (418) | |
Beginning Balance at Dec. 31, 2016 | 155,360 | [1] | (1,583) | 46,757 | 113,448 | (3,262) |
Comprehensive income: | ||||||
Net income | 9,592 | 9,592 | ||||
Other comprehensive income | 3,651 | 3,651 | ||||
Stock Issued During Period, Value, Stock Options Exercised | 12 | 12 | ||||
Share-based compensation expense | 285 | 285 | ||||
Stock Issued During Period, Value, Employee Stock Ownership Plan | 681 | 323 | 358 | |||
Stock Issued During Period, Value, Acquisitions | 32,968 | 32,968 | ||||
Stock Issued During Period, Value, Dividend Reinvestment Plan | 116 | 116 | 0 | |||
Common stock cash dividends declared | (3,883) | (3,883) | ||||
Ending Balance at Sep. 30, 2017 | $ 198,782 | $ (1,260) | $ 80,496 | $ 119,157 | $ 389 | |
[1] | Derived from audited consolidated financial statements |
Consolidated Statements of Sha8
Consolidated Statements of Shareholders' Equity (unaudited) (Parenthetical) - $ / shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Common stock, dividends per share | $ 0.33 | $ 0.30 |
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 29,920 | 25,862 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 2,000 | |
Common stock issuances from reinvested dividends, number of shares | 4,921 | 4,235 |
Stock Issued During Period, Shares, Acquisitions | 1,537,912 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | ||
Cash Flows from Operating Activities | |||
Net income | $ 9,592 | $ 12,586 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 1,364 | 884 | |
Provision for loan losses | 875 | 500 | |
Share-based compensation expense | 285 | 150 | |
Deferred income tax benefit | (364) | (235) | |
Loans originated for sale | (11,305) | (7,068) | |
Proceeds from sale of loans | 11,492 | 8,001 | |
Gain (Loss) on Sales of Loans, Net | (231) | (154) | |
Realized securities gains, net | (58) | (836) | |
Gain on disposal of assets | (93) | (480) | |
Write-downs of foreclosed properties | 538 | 503 | |
Amortization of securities premiums, net | 3,125 | 3,329 | |
Amortization (accretion) related to acquisitions, net | (870) | 9 | |
Amortization of intangibles | 974 | 150 | |
Earnings on cash surrender value of bank owned life insurance | (425) | (772) | |
(Increase) decrease in accrued interest receivable | (752) | 75 | |
Decrease (increase) in other assets | 1,539 | (762) | |
(Decrease) increase in other liabilities | (221) | 673 | |
Net cash provided by operating activities | 15,465 | 16,553 | |
Cash Flows from Investing Activities | |||
Proceeds from maturities and calls of securities available for sale | 2,610 | 630 | |
Proceeds from sales of securities available for sale | 131,345 | 63,641 | |
Principal payments received on securities available for sale | 24,349 | 27,696 | |
Purchases of securities available for sale | (118,346) | (73,595) | |
Purchases of other investments | (13,116) | (15,389) | |
Proceeds from redemptions of other investments | 13,274 | 10,942 | |
Net loan originations | (26,099) | (156,744) | |
Purchases of premises and equipment | (5,672) | (1,199) | |
Proceeds from Sale of Property, Plant, and Equipment | 0 | 43 | |
Proceeds from sales of repossessed assets & property held for sale | 4,463 | 3,659 | |
Payments to Acquire Businesses, Net of Cash Acquired | 39,053 | 0 | |
Net cash provided by (used in) investing activities | 51,861 | (140,316) | |
Cash Flows from Financing Activities | |||
Net (decrease) increase in demand deposit, NOW and savings accounts | (9,812) | 54,830 | |
Net (decrease) increase in time deposits | (19,305) | 35,243 | |
Net (decrease) increase in short-term borrowings | (28,782) | 63,263 | |
Repayment of long-term borrowings | (915) | (1,435) | |
Net proceeds from issuance of common stock | (43) | 75 | |
Proceeds from Stock Options Exercised | 12 | 0 | |
Dividends paid on common stock | (3,883) | (3,201) | |
Net cash provided by (used in) financing activities | (62,728) | 148,775 | |
Increase in cash and cash equivalents | 4,598 | 25,012 | |
Cash and cash equivalents: | |||
Beginning | 46,616 | [1] | 9,487 |
Ending | 51,214 | 34,499 | |
Cash payments for: | |||
Interest | 13,055 | 10,889 | |
Income taxes | 3,557 | 5,768 | |
Supplemental Disclosures of Noncash Investing and Financing Activities | |||
Real property and other assets acquired in settlement of loans | $ 289 | $ 2,053 | |
[1] | Derived from audited consolidated financial statements |
Consolidated Statements of Ca10
Consolidated Statements of Cash Flows (unaudited) Consolidated Statements of Cash Flows (unaudited) (Parenthetical) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Statement of Cash Flows [Abstract] | |
Payments to Acquire Businesses, Gross | $ 14,989 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | BASIS OF PRESENTATION We, Summit Financial Group, Inc. and subsidiaries, prepare our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America for interim financial information and with instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for annual year end financial statements. In our opinion, all adjustments considered necessary for a fair presentation have been included and are of a normal recurring nature. The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from these estimates. The results of operations for the nine months and quarter ended September 30, 2017 are not necessarily indicative of the results to be expected for the full year. The consolidated financial statements and notes included herein should be read in conjunction with our 2016 audited financial statements and Annual Report on Form 10-K. |
Significant New Authoritative A
Significant New Authoritative Accounting Guidance | 9 Months Ended |
Sep. 30, 2017 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Significant New Authoritative Accounting Guidance | SIGNIFICANT NEW AUTHORITATIVE ACCOUNTING GUIDANCE ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , among other things, (i) requires equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (iv) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (v) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements and (viii) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to securities available-for-sale. ASU 2016-01 will be effective for us on January 1, 2018 and is not expected to have a significant impact on our financial statements. ASU 2016-02, Leases (Topic 842) will, among other things, require lessees to recognize a lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASU 2016-02 does not significantly change lease accounting requirements applicable to lessors; however, certain changes were made to align, where necessary, lessor accounting with the lessee accounting model and ASC Topic 606, Revenue from Contracts with Customers . ASU 2016-02 will be effective for us on January 1, 2019 and will require transition using a modified retrospective approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. While our full evaluation of the potential impact of ASU 2016-02 is ongoing, preliminarily, we expect that its adoption will not be significant to our financial statements. ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts and requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. In addition, ASU 2016-13 amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 will be effective on January 1, 2020. An implementation committee has been formed and continues to plan for the standards' implementation and evaluate the impact of ASU 2016-13 on our financial statements. ASU 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments provides guidance related to certain cash flow issues in order to reduce the current and potential future diversity in practice. ASU 2016-15 will be effective for us on January 1, 2018 and is not expected to have a significant impact on our financial statements. ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business clarifies the definition 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. Under the current implementation guidance in Topic 805, there are three elements of a business-inputs, processes, and outputs. While an integrated set of assets and activities (collectively referred to as a “set”) that is a business usually has outputs, outputs are not required to be present. In addition, all the inputs and processes that a seller uses in operating a set are not required if market participants can acquire the set and continue to produce outputs. The amendments in this ASU provide a screen to determine when a set is not a business. If the screen is not met, the amendments (1) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) remove the evaluation of whether a market participant could replace missing elements. The ASU provides a framework to assist entities in evaluating whether both an input and a substantive process are present. The amendments in this ASU are effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The amendments in this ASU should be applied prospectively on or after the effective date. No disclosures are required at transition. We do not expect the adoption of ASU 2017-01 to have a material impact on our consolidated financial statements. ASU 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost requires an employer that offers defined benefit pension plans, other postretirement benefit plans, or other types of benefits accounted for under Topic 715 to report the service cost component of net periodic benefit cost in the same line item(s) as other compensation costs arising from services rendered during the period. The other components of net periodic benefit cost are required to be presented in the income statement separately from the service cost component. If the other components of net periodic benefit cost are not presented on a separate line or lines, the line item(s) used in the income statement must be disclosed. In addition, only the service cost component will be eligible for capitalization as part of an asset, when applicable. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted. We do not expect the adoption of ASU 2017-07 to have a material impact on our consolidated financial statements. ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities shortens the amortization period for certain callable debt securities purchased at a premium. Upon adoption of the standard, premiums on these qualifying callable debt securities will be amortized to the earliest call date. Discounts on purchased debt securities will continue to be accreted to maturity. The amendments are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. Upon transition, entities should apply the guidance on a modified retrospective basis, with a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption and provide the disclosures required for a change in accounting principle. We are currently assessing the impact that ASU 2017-08 will have on our consolidated financial statements. During May 2017, the FASB issued ASU 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting which provides guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting under Topic 718. The amendments are effective for all entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted, including adoption in any interim period, for reporting periods for which financial statements have not yet been issued. We are currently assessing the impact that ASU 2017-09 will have on our consolidated financial statements. During August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The amendments in this ASU modify the designation and measurement guidance for hedge accounting as well as provide for increased transparency regarding the presentation of economic results on both the financial statements and related footnotes. Certain aspects of hedge effectiveness assessments will also be simplified upon implementation of this update. The amendments are effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2018. Early adoption is permitted, including adoption in any interim period. We do not expect the adoption of ASU 2017-12 to have a material impact on our consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis. Balance at Fair Value Measurements Using: Dollars in thousands September 30, 2017 Level 1 Level 2 Level 3 Available for sale securities U.S. Government sponsored agencies $ 24,135 $ — $ 24,135 $ — Mortgage backed securities: Government sponsored agencies 121,759 — 121,759 — Nongovernment sponsored entities 2,755 — 2,755 — State and political subdivisions 13,435 — 13,435 — Corporate debt securities 16,190 — 16,190 — Other equity securities 137 — 137 — Tax-exempt state and political subdivisions 150,315 — 150,315 — Total available for sale securities $ 328,726 $ — $ 328,726 $ — Derivative financial assets Interest rate swaps $ 125 $ — $ 125 $ — Derivative financial liabilities Interest rate swaps $ 3,056 $ — $ 3,056 $ — Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2016 Level 1 Level 2 Level 3 Available for sale securities U.S. Government sponsored agencies $ 15,174 $ — $ 15,174 $ — Mortgage backed securities: Government sponsored agencies 138,846 — 138,846 — Nongovernment sponsored entities 4,653 — 4,653 — Corporate debt securities 18,170 — 18,170 — Other equity securities 137 — 137 — Tax-exempt state and political subdivisions 89,562 — 89,562 — Total available for sale securities $ 266,542 $ — $ 266,542 $ — Derivative financial assets Interest rate swaps $ 200 $ — $ 200 $ — Derivative financial liabilities Interest rate swaps $ 4,611 $ — $ 4,611 $ — We may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. generally accepted accounting principles. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below. Balance at Fair Value Measurements Using: Dollars in thousands September 30, 2017 Level 1 Level 2 Level 3 Residential mortgage loans held for sale $ 220 $ — $ 220 $ — Collateral-dependent impaired loans Commercial real estate $ 518 $ — $ 518 $ — Construction and development 945 — 945 — Residential real estate 203 — 203 — Total collateral-dependent impaired loans $ 1,666 $ — $ 1,666 $ — Property held for sale Commercial real estate $ 1,476 $ — $ 1,292 $ 184 Construction and development 16,627 — 16,627 — Residential real estate 352 — 352 — Total property held for sale $ 18,455 $ — $ 18,271 $ 184 Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2016 Level 1 Level 2 Level 3 Residential mortgage loans held for sale $ 176 $ — $ 176 $ — Collateral-dependent impaired loans Construction and development $ 945 $ — $ 945 $ — Residential real estate 130 — 130 — Total collateral-dependent impaired loans $ 1,075 $ — $ 1,075 $ — Property held for sale Commercial real estate $ 976 $ — $ 976 $ — Construction and development 19,327 — 19,327 — Residential real estate 279 — 279 — Total property held for sale $ 20,582 $ — $ 20,582 $ — The following summarizes the methods and significant assumptions we used in estimating our fair value disclosures for financial instruments, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. Cash and cash equivalents: The carrying values of cash and cash equivalents approximate their estimated fair value. Securities: Estimated fair values of securities are based on quoted market prices, where available. If quoted market prices are not available, estimated fair values are based on quoted market prices of comparable securities. Other investments: Other investments consists of FHLB stock, which does not have readily determinable fair values and is carried at cost and an investment in a limited partnership which owns interests in a diversified portfolio of qualified affordable housing projects which is reflected at its carrying value. Loans held for sale: The carrying values of loans held for sale approximate their estimated fair values. Loans: The estimated fair values for loans are computed based on scheduled future cash flows of principal and interest, discounted at interest rates currently offered for loans with similar terms to borrowers of similar credit quality. No prepayments of principal are assumed. Accrued interest receivable and payable: The carrying values of accrued interest receivable and payable approximate their estimated fair values. Deposits: The estimated fair values of demand deposits (i.e. non-interest bearing checking, NOW, money market and savings accounts) and other variable rate deposits approximate their carrying values. Fair values of fixed maturity deposits are estimated using a discounted cash flow methodology at rates currently offered for deposits with similar remaining maturities. Any intangible value of long-term relationships with depositors is not considered in estimating the fair values disclosed. Short-term borrowings: The carrying values of short-term borrowings approximate their estimated fair values. Long-term borrowings: The fair values of long-term borrowings are estimated by discounting scheduled future payments of principal and interest at current rates available on borrowings with similar terms. Subordinated debentures owed to unconsolidated subsidiary trusts: The carrying values of subordinated debentures owed to unconsolidated subsidiary trusts approximate their estimated fair values. Derivative financial instruments: The fair value of the interest rate swaps is valued using independent pricing models. Off-balance sheet instruments: The fair values of commitments to extend credit and standby letters of credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit standing of the counter parties. The amounts of fees currently charged on commitments and standby letters of credit are deemed insignificant and therefore, the estimated fair values and carrying values are not shown below. The carrying values and estimated fair values of our financial instruments are summarized below: September 30, 2017 Fair Value Measurements Using: Dollars in thousands Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 51,214 $ 51,214 $ — $ 51,214 $ — Securities available for sale 328,726 328,726 — 328,726 — Other investments 12,170 12,170 — 12,170 — Loans held for sale, net 220 220 — 220 — Loans, net 1,559,328 1,557,227 — 1,666 1,555,561 Accrued interest receivable 7,979 7,979 — 7,979 — Derivative financial assets 125 125 — 125 — $ 1,959,762 $ 1,957,661 $ — $ 402,100 $ 1,555,561 Financial liabilities Deposits $ 1,616,768 $ 1,637,258 $ — $ 1,637,258 $ — Short-term borrowings 202,988 202,988 — 202,988 — Long-term borrowings 45,755 46,962 — 46,962 — Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 — 19,589 — Accrued interest payable 912 912 — 912 — Derivative financial liabilities 3,056 3,056 — 3,056 — $ 1,889,068 $ 1,910,765 $ — $ 1,910,765 $ — December 31, 2016 Fair Value Measurements Using: Dollars in thousands Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 46,616 $ 46,616 $ — $ 46,616 $ — Securities available for sale 266,542 266,542 — 266,542 — Other investments 12,942 12,942 — 12,942 — Loans held for sale, net 176 176 — 176 — Loans, net 1,307,862 1,321,235 — 1,075 1,320,160 Accrued interest receivable 6,167 6,167 — 6,167 — Derivative financial assets 200 200 — 200 — $ 1,640,505 $ 1,653,878 $ — $ 333,718 $ 1,320,160 Financial liabilities Deposits $ 1,295,519 $ 1,309,820 $ — $ 1,309,820 $ — Short-term borrowings 224,461 224,461 — 224,461 — Long-term borrowings 46,670 49,013 — 49,013 — Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 — 19,589 — Accrued interest payable 736 736 — 736 — Derivative financial liabilities 4,611 4,611 — 4,611 — $ 1,591,586 $ 1,608,230 $ — $ 1,608,230 $ — |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE The computations of basic and diluted earnings per share follow: For the Three Months Ended September 30, 2017 2016 Dollars in thousands, except per share amounts Income (Numerator) Common Shares (Denominator) Per Share Income (Numerator) Common Shares (Denominator) Per Share Net income $ 5,930 $ 4,281 Basic earnings per share $ 5,930 12,299,987 $ 0.48 $ 4,281 10,692,423 $ 0.40 Effect of dilutive securities: Stock options 10,911 12,865 Stock appreciation rights (SARs) 8,061 21,851 Diluted earnings per share $ 5,930 12,318,959 $ 0.48 $ 4,281 10,727,139 $ 0.40 For the Nine Months Ended September 30, 2017 2016 Dollars in thousands, except per share amounts Income (Numerator) Common Shares (Denominator) Per Share Income (Numerator) Common Shares (Denominator) Per Share Net income $ 9,592 $ 12,586 Basic earnings per share $ 9,592 11,781,342 $ 0.81 $ 12,586 10,682,129 $ 1.18 Effect of dilutive securities: Stock options 11,336 8,774 Stock appreciation rights (SARs) 14,324 1,443 Diluted earnings per share $ 9,592 11,807,002 $ 0.81 $ 12,586 10,692,346 $ 1.18 Stock option and stock appreciation right (SAR) grants are disregarded in this computation if they are determined to be anti-dilutive. Our anti-dilutive stock options for the quarter and nine months ended September 30, 2017 were 23,400 shares, and totaled 33,600 for the three months ended September 30, 2016 and 57,000 for the nine months ended September 30, 2016 . Our anti-dilutive SARs for three and nine months ended September 30, 2017 were 87,615 . |
Securities
Securities | 9 Months Ended |
Sep. 30, 2017 | |
Available-for-sale Securities [Abstract] | |
Securities | SECURITIES The amortized cost, unrealized gains, unrealized losses and estimated fair values of securities at September 30, 2017 , December 31, 2016 , and September 30, 2016 are summarized as follows: September 30, 2017 Amortized Unrealized Estimated Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities U.S. Government and agencies and corporations $ 23,591 $ 608 $ 64 $ 24,135 Residential mortgage-backed securities: Government-sponsored agencies 120,898 1,580 719 121,759 Nongovernment-sponsored entities 2,714 49 8 2,755 State and political subdivisions General obligations 2,803 11 1 2,813 Other revenues 10,568 83 29 10,622 Corporate debt securities 16,326 — 136 16,190 Total taxable debt securities 176,900 2,331 957 178,274 Tax-exempt debt securities State and political subdivisions General obligations 70,714 1,382 510 71,586 Water and sewer revenues 25,049 433 74 25,408 Lease revenues 14,250 283 71 14,462 Electric revenues 6,226 76 23 6,279 University revenues 5,290 3 22 5,271 Other revenues 26,831 593 115 27,309 Total tax-exempt debt securities 148,360 2,770 815 150,315 Equity securities 137 — — 137 Total available for sale securities $ 325,397 $ 5,101 $ 1,772 $ 328,726 December 31, 2016 Amortized Unrealized Estimated Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities U.S. Government and agencies and corporations $ 14,580 $ 642 $ 48 $ 15,174 Residential mortgage-backed securities: Government-sponsored agencies 138,451 1,554 1,159 138,846 Nongovernment-sponsored entities 4,631 44 22 4,653 Corporate debt securities 18,295 23 148 18,170 Total taxable debt securities 175,957 2,263 1,377 176,843 Tax-exempt debt securities State and political subdivisions General obligations 49,449 569 1,388 48,630 Water and sewer revenues 9,087 63 149 9,001 Lease revenues 9,037 7 201 8,843 Electric revenues 3,247 10 48 3,209 Sales tax revenues 2,870 — 34 2,836 Other revenues 17,321 93 371 17,043 Total tax-exempt debt securities 91,011 742 2,191 89,562 Equity securities 137 — — 137 Total available for sale securities $ 267,105 $ 3,005 $ 3,568 $ 266,542 September 30, 2016 Amortized Unrealized Estimated Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities: U.S. Government and agencies and corporations $ 14,818 $ 921 $ 47 $ 15,692 Residential mortgage-backed securities: Government-sponsored agencies 132,913 2,556 264 135,205 Nongovernment-sponsored agencies 5,382 48 29 5,401 State and political subdivisions: Water and sewer revenues 250 — — 250 Corporate debt securities 20,003 49 149 19,903 Total taxable debt securities 173,366 3,574 489 176,451 Tax-exempt debt securities: State and political subdivisions: General obligations 47,014 2,221 115 49,120 Water and sewer revenues 7,980 265 11 8,234 Lease revenues 7,392 321 38 7,675 Sales tax revenues 2,880 124 — 3,004 Other revenues 16,869 701 29 17,541 Total tax-exempt debt securities 82,135 3,632 193 85,574 Equity securities 77 — — 77 Total available for sale securities $ 255,578 $ 7,206 $ 682 $ 262,102 The below information is relative to the five states where issuers with the highest volume of state and political subdivision securities held in our portfolio are located. We own no such securities of any single issuer which we deem to be a concentration. September 30, 2017 Amortized Unrealized Estimated Dollars in thousands Cost Gains Losses Fair Value Texas $ 20,215 $ 440 $ 71 $ 20,584 Michigan 18,823 235 212 18,846 California 15,314 260 64 15,510 Illinois 12,463 244 38 12,669 Pennsylvania 10,603 91 79 10,615 Management performs pre-purchase and ongoing analysis to confirm that all investment securities meet applicable credit quality standards. The maturities, amortized cost and estimated fair values of securities at September 30, 2017 , are summarized as follows: Dollars in thousands Amortized Cost Estimated Fair Value Due in one year or less $ 46,461 $ 46,984 Due from one to five years 82,524 83,284 Due from five to ten years 33,110 33,119 Due after ten years 163,165 165,202 Equity securities 137 137 $ 325,397 $ 328,726 The proceeds from sales, calls and maturities of available for sale securities, including principal payments received on mortgage-backed obligations, and the related gross gains and losses realized, for the nine months ended September 30, 2017 and 2016 are as follows: Proceeds from Gross realized Dollars in thousands Sales Calls and Maturities Principal Payments Gains Losses For the Nine Months Ended 2017 Securities available for sale $ 131,345 $ 2,610 $ 24,349 $ 416 $ 358 2016 Securities available for sale $ 63,641 $ 630 $ 27,696 $ 1,117 $ 281 We held 81 available for sale securities having an unrealized loss at September 30, 2017 . We do not intend to sell these securities, and it is more likely than not that we will not be required to sell these securities before recovery of their amortized cost bases. We believe that this decline in value is primarily attributable to the lack of market liquidity and to changes in market interest rates and not due to credit quality. Accordingly, no other-than-temporary impairment charge to earnings is warranted at this time. Provided below is a summary of securities available for sale which were in an unrealized loss position at September 30, 2017 and December 31, 2016 . September 30, 2017 Less than 12 months 12 months or more Total Dollars in thousands Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Temporarily impaired securities Taxable debt securities U.S. Government agencies and corporations $ 5,374 $ (25 ) $ 2,712 $ (39 ) $ 8,086 $ (64 ) Residential mortgage-backed securities: Government-sponsored agencies 29,222 (316 ) 13,476 (403 ) 42,698 (719 ) Nongovernment-sponsored entities — — 949 (8 ) 949 (8 ) State and political subdivisions: General obligations 734 (1 ) — — 734 (1 ) Other revenues 4,816 (29 ) — — 4,816 (29 ) Corporate debt securities 3,014 (39 ) 1,653 (97 ) 4,667 (136 ) Tax-exempt debt securities State and political subdivisions: General obligations 14,204 (164 ) 10,236 (346 ) 24,440 (510 ) Water and sewer revenues 6,702 (74 ) — — 6,702 (74 ) Lease revenues 571 (2 ) 1,061 (69 ) 1,632 (71 ) Electric revenues 2,146 (23 ) — — 2,146 (23 ) University revenues 3,508 (22 ) — — 3,508 (22 ) Other revenues 4,279 (42 ) 1,278 (73 ) 5,557 (115 ) Total temporarily impaired securities 74,570 (737 ) 31,365 (1,035 ) 105,935 (1,772 ) Total $ 74,570 $ (737 ) $ 31,365 $ (1,035 ) $ 105,935 $ (1,772 ) December 31, 2016 Less than 12 months 12 months or more Total Dollars in thousands Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Temporarily impaired securities Taxable debt securities U.S. Government agencies and corporations $ 763 $ (5 ) $ 2,575 $ (43 ) $ 3,338 $ (48 ) Residential mortgage-backed securities: Government-sponsored agencies 55,388 (985 ) 8,389 (174 ) 63,777 (1,159 ) Nongovernment-sponsored entities 97 — 3,013 (22 ) 3,110 (22 ) Corporate debt securities 968 (31 ) 3,136 (117 ) 4,104 (148 ) Tax-exempt debt securities State and political subdivisions: General obligations 33,115 (1,388 ) — — 33,115 (1,388 ) Water and sewer revenues 4,761 (149 ) — — 4,761 (149 ) Lease revenues 7,011 (201 ) — — 7,011 (201 ) Electric revenues 1,973 (48 ) — — 1,973 (48 ) Sales tax revenues 2,836 (34 ) — — 2,836 (34 ) Other revenues 8,445 (371 ) — — 8,445 (371 ) Total temporarily impaired securities 115,357 (3,212 ) 17,113 (356 ) 132,470 (3,568 ) Total $ 115,357 $ (3,212 ) $ 17,113 $ (356 ) $ 132,470 $ (3,568 ) |
Loans
Loans | 9 Months Ended |
Sep. 30, 2017 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans | LOANS Loans are summarized as follows: Dollars in thousands September 30, December 31, September 30, Commercial $ 187,193 $ 119,088 $ 110,466 Commercial real estate Owner-occupied 239,840 203,047 192,254 Non-owner occupied 464,543 381,921 367,196 Construction and development Land and land development 71,412 72,042 65,430 Construction 28,756 16,584 11,276 Residential real estate Non-jumbo 355,642 265,641 228,777 Jumbo 61,253 65,628 57,276 Home equity 82,720 74,596 75,161 Mortgage warehouse lines 33,525 85,966 108,983 Consumer 36,915 25,534 19,756 Other 9,994 9,489 9,649 Total loans, net of unearned fees 1,571,793 1,319,536 1,246,224 Less allowance for loan losses 12,465 11,674 11,619 Loans, net $ 1,559,328 $ 1,307,862 $ 1,234,605 The outstanding balance and the recorded investment of acquired loans included in the consolidated balance sheet at September 30, 2017 are as follows: Acquired Loans Dollars in thousands Purchased Credit Impaired Purchased Performing Total Outstanding balance $ 6,393 $ 238,314 $ 244,707 Recorded investment Commercial $ 11 $ 31,430 $ 31,441 Commercial real estate Owner-occupied 695 23,084 23,779 Non-owner occupied 1,846 35,704 37,550 Construction and development Land and land development — 9,080 9,080 Construction — 2,226 2,226 Residential real estate Non-jumbo 1,861 114,756 116,617 Jumbo 1,005 3,443 4,448 Home equity — 3,431 3,431 Consumer — 13,050 13,050 Other — 236 236 Total recorded investment $ 5,418 $ 236,440 $ 241,858 The following table presents a summary of the change in the accretable yield of the PCI loan portfolio for the period from January 1, 2017 to September 30, 2017: Dollars in thousands Accretable yield, January 1, 2017 $ 290 Accretion (135 ) Additions for First Century Bankshares, Inc. acquisition 661 Reclassification of nonaccretable difference due to improvement in expected cash flows — Other changes, net (13 ) Accretable yield, September 30, 2017 $ 803 The following table presents the contractual aging of the recorded investment in past due loans by class as of September 30, 2017 and 2016 and December 31, 2016 . At September 30, 2017 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 204 $ 175 $ 65 $ 444 $ 186,749 $ — Commercial real estate Owner-occupied 469 45 740 1,254 238,586 — Non-owner occupied 177 252 1,969 2,398 462,145 — Construction and development Land and land development 268 21 3,880 4,169 67,243 — Construction — — — — 28,756 — Residential mortgage Non-jumbo 4,860 2,062 4,837 11,759 343,883 — Jumbo — — — — 61,253 — Home equity 50 290 657 997 81,723 — Mortgage warehouse lines — — — — 33,525 — Consumer 387 173 405 965 35,950 35 Other 56 — — 56 9,938 — Total $ 6,471 $ 3,018 $ 12,553 $ 22,042 $ 1,549,751 $ 35 At December 31, 2016 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 90 $ 86 $ 165 $ 341 $ 118,747 $ — Commercial real estate Owner-occupied 93 — 509 602 202,445 — Non-owner occupied 340 — 65 405 381,516 — Construction and development Land and land development 423 129 3,852 4,404 67,638 — Construction — — — — 16,584 — Residential mortgage Non-jumbo 4,297 1,889 3,287 9,473 256,168 — Jumbo — — — — 65,628 — Home equity — 302 57 359 74,237 — Mortgage warehouse lines — — — — 85,966 — Consumer 308 84 150 542 24,992 — Other — — — — 9,489 — Total $ 5,551 $ 2,490 $ 8,085 $ 16,126 $ 1,303,410 $ — At September 30, 2016 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 301 $ 138 $ 602 $ 1,041 $ 109,425 $ — Commercial real estate Owner-occupied 251 — 505 756 191,498 — Non-owner occupied 311 78 — 389 366,807 — Construction and development Land and land development 238 — 3,731 3,969 61,461 — Construction — — — — 11,276 — Residential mortgage Non-jumbo 1,932 1,488 2,762 6,182 222,595 — Jumbo — — — — 57,276 — Home equity — 136 318 454 74,707 — Mortgage warehouse lines — — — — 108,983 — Consumer 135 44 148 327 19,429 21 Other — — — — 9,649 — Total $ 3,168 $ 1,884 $ 8,066 $ 13,118 $ 1,233,106 $ 21 Nonaccrual loans: The following table presents the nonaccrual loans included in the net balance of loans at September 30, 2017 , December 31, 2016 and September 30, 2016 . September 30, December 31, Dollars in thousands 2017 2016 2016 Commercial $ 757 $ 846 $ 298 Commercial real estate Owner-occupied 740 505 509 Non-owner occupied 2,033 4,362 4,336 Construction and development Land & land development 3,931 4,360 4,465 Construction — — — Residential mortgage Non-jumbo 7,309 3,680 4,621 Jumbo — — — Home equity 773 494 194 Mortgage warehouse lines — — — Consumer 494 148 151 Total $ 16,037 $ 14,395 $ 14,574 Impaired loans: Impaired loans include the following: ▪ Loans which we risk-rate (consisting of loan relationships having aggregate balances in excess of $ 2.5 million , or loans exceeding $ 500,000 and exhibiting credit weakness) through our normal loan review procedures and which, based on current information and events, it is probable that we will be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement. Risk-rated loans with insignificant delays or insignificant short falls in the amount of payments expected to be collected are not considered to be impaired. ▪ Loans that have been modified in a troubled debt restructuring. Both commercial and consumer loans are deemed impaired upon being contractually modified in a troubled debt restructuring. Troubled debt restructurings typically result from our loss mitigation activities and occur when we grant a concession to a borrower who is experiencing financial difficulty in order to minimize our economic loss and to avoid foreclosure or repossession of collateral. Once restructured, a loan is generally considered impaired until its maturity, regardless of whether the borrower performs under the modified terms. Although such a loan may be returned to accrual status if the criteria set forth in our accounting policy are met, the loan would continue to be evaluated for an asset-specific allowance for loan losses and we would continue to report the loan in the impaired loan table below. The following tables present loans individually evaluated for impairment at September 30, 2017 , December 31, 2016 and September 30, 2016 . September 30, 2017 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 254 $ 254 $ — $ 264 $ 10 Commercial real estate Owner-occupied 7,138 7,141 — 4,869 185 Non-owner occupied 9,884 9,886 — 10,142 511 Construction and development Land & land development 5,029 5,029 — 4,729 87 Construction — — — — — Residential real estate Non-jumbo 4,200 4,210 — 4,294 209 Jumbo 3,581 3,580 — 3,605 171 Home equity 524 523 — 523 25 Mortgage warehouse lines — — — — — Consumer 29 29 — 34 3 Total without a related allowance $ 30,639 $ 30,652 $ — $ 28,460 $ 1,201 With a related allowance Commercial $ 259 $ 259 $ 259 $ 266 $ — Commercial real estate Owner-occupied 2,448 2,448 127 2,456 121 Non-owner occupied 1,014 1,018 501 2 — Construction and development Land & land development 1,470 1,470 525 1,482 56 Construction — — — — — Residential real estate Non-jumbo 1,728 1,729 217 1,681 82 Jumbo 841 842 15 847 42 Home equity — — — — — Mortgage warehouse lines — — — — — Consumer — — — — — Total with a related allowance $ 7,760 $ 7,766 $ 1,644 $ 6,734 $ 301 Total Commercial $ 27,496 $ 27,505 $ 1,412 $ 24,210 $ 970 Residential real estate 10,874 10,884 232 10,950 529 Consumer 29 29 — 34 3 Total $ 38,399 $ 38,418 $ 1,644 $ 35,194 $ 1,502 December 31, 2016 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 285 $ 285 $ — $ 247 $ 10 Commercial real estate Owner-occupied 520 520 — 534 31 Non-owner occupied 10,203 10,205 — 10,675 294 Construction and development Land & land development 5,227 5,227 — 5,270 80 Construction — — — — — Residential real estate Non-jumbo 4,055 4,065 — 3,910 193 Jumbo 3,640 3,639 — 3,693 175 Home equity 524 523 — 523 22 Mortgage warehouse lines — — — — — Consumer 44 44 — 50 5 Total without a related allowance $ 24,498 $ 24,508 $ — $ 24,902 $ 810 With a related allowance Commercial $ — $ — $ — $ — $ — Commercial real estate Owner-occupied 6,864 6,864 347 6,879 269 Non-owner occupied 1,311 1,311 197 1,327 43 Construction and development Land & land development 2,066 2,066 585 2,074 80 Construction — — — — — Residential real estate Non-jumbo 2,055 2,057 251 1,851 78 Jumbo 853 853 24 862 44 Home equity — — — — — Mortgage warehouse lines — — — — — Consumer — — — — — Total with a related allowance $ 13,149 $ 13,151 $ 1,404 $ 12,993 $ 514 Total Commercial $ 26,476 $ 26,478 $ 1,129 $ 27,006 $ 807 Residential real estate 11,127 11,137 275 10,839 512 Consumer 44 44 — 50 5 Total $ 37,647 $ 37,659 $ 1,404 $ 37,895 $ 1,324 September 30, 2016 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 791 $ 790 $ — $ 400 $ 9 Commercial real estate Owner-occupied 4,914 4,914 — 4,932 188 Non-owner occupied 10,394 10,396 — 10,831 456 Construction and development Land & land development 6,181 6,181 — 6,207 104 Construction — — — — — Residential real estate Non-jumbo 3,852 3,861 — 3,732 170 Jumbo 3,683 3,682 — 3,711 176 Home equity 713 713 — 710 21 Mortgage warehouse lines — — — — — Consumer 48 48 — 52 5 Total without a related allowance $ 30,576 $ 30,585 $ — $ 30,575 $ 1,129 With a related allowance Commercial $ 19 $ 19 $ 19 $ 6 $ — Commercial real estate Owner-occupied 2,499 2,499 12 2,491 112 Non-owner occupied 1,321 1,321 132 1,332 43 Construction and development Land & land development 1,140 1,141 492 1,155 58 Construction — — — — — Residential real estate Non-jumbo 2,617 2,619 216 2,329 103 Jumbo 859 859 25 864 43 Home equity — — — — — Mortgage warehouse lines — — — — — Consumer — — — — — Total with a related allowance $ 8,455 $ 8,458 $ 896 $ 8,177 $ 359 Total Commercial $ 27,259 $ 27,261 $ 655 $ 27,354 $ 970 Residential real estate 11,724 11,734 241 11,346 513 Consumer 48 48 — 52 5 Total $ 39,031 $ 39,043 $ 896 $ 38,752 $ 1,488 Included in impaired loans are TDRs of $29.1 million , of which $28.3 million were current with respect to restructured contractual payments at September 30, 2017 , and $28.6 million , of which $28.1 million were current with respect to restructured contractual payments at December 31, 2016 . There were no commitments to lend additional funds under these restructurings at either balance sheet date. The following table presents by class the TDRs that were restructured during the three and nine months ended September 30, 2017 and September 30, 2016 . Generally, the modifications were extensions of term, modifying the payment terms from principal and interest to interest only for an extended period, or reduction in interest rate. All TDRs are evaluated individually for allowance for loan loss purposes. For the Three Months Ended For the Three Months Ended Dollars in thousands Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Commercial real estate Owner-occupied 1 $ 2,302 $ 2,302 — $ — $ — Non-owner occupied 1 148 148 — — — Construction and development Land & land development 1 438 438 — — — Residential real estate Non-jumbo — — — 1 307 307 Total 3 $ 2,888 $ 2,888 1 $ 307 $ 307 For the Nine Months Ended For the Nine Months Ended Dollars in thousands Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Commercial real estate Owner-occupied 1 $ 2,302 $ 2,302 — $ — $ — Non-owner occupied 1 148 148 — — — Construction and development Land & land development 1 438 438 — — — Residential real estate Non-jumbo 5 1,086 1,086 4 702 702 Consumer — — — 1 2 2 Total 8 $ 3,974 $ 3,974 5 $ 704 $ 704 During the three months and nine months ended September 30, 2017, four non-jumbo residential real estate loans and one land & land development loan that had been restructured within the past twelve months defaulted. A default is considered as either the loan was past due 30 days or more at any time during the period, or the loan was fully or partially charged off during the period. The following tables detail the activity regarding TDRs by loan type, net of fees, for the three months and nine months ended September 30, 2017 , and the related allowance on TDRs. For the Three Months Ended September 30, 2017 Construction & Land Development Commercial Real Estate Residential Real Estate Dollars in thousands Land & Land Develop- ment Construc- tion Commer- cial Owner Occupied Non- Owner Occupied Non- jumbo Jumbo Home Equity Mortgage Warehouse Lines Con- sumer Other Total Troubled debt restructurings Balance July 1, 2017 $ 2,639 $ — $ 438 $ 7,315 $ 5,245 $ 6,200 $ 4,456 $ 523 $ — $ 34 $ — $ 26,850 Additions 438 — — 2,302 148 — — — — — — 2,888 Charge-offs — — — — — — — — — — — — Net (paydowns) advances (15 ) — (12 ) (31 ) (45 ) (621 ) (33 ) — — (5 ) — (762 ) Transfer into foreclosed properties — — — — — — — — — — — — Refinance out of TDR status — — — — — — — — — — — — Balance, September 30, 2017 $ 3,062 $ — $ 426 $ 9,586 $ 5,348 $ 5,579 $ 4,423 $ 523 $ — $ 29 $ — $ 28,976 Allowance related to troubled debt restructurings $ 461 $ — $ 259 $ 127 $ — $ 217 $ 15 $ — $ — $ — $ — $ 1,079 For the Nine Months Ended September 30, 2017 Construction & Land Development Commercial Real Estate Residential Real Estate Dollars in thousands Land & Land Develop- ment Construc- tion Commer- cial Owner Occupied Non- Owner Occupied Non- jumbo Jumbo Home Equity Mortgage Warehouse Lines Con- sumer Other Total Troubled debt restructurings Balance January 1, 2017 $ 3,337 $ — $ 711 $ 7,383 $ 6,714 $ 5,417 $ 4,493 $ 523 $ — $ 44 $ — $ 28,622 Additions 438 — — 2,302 148 1,086 — — — — — 3,974 Charge-offs — — — — (65 ) — — — — — — (65 ) Net (paydowns) advances (713 ) — (285 ) (99 ) (1,449 ) (924 ) (70 ) — — (15 ) — (3,555 ) Transfer into foreclosed properties — — — — — — — — — — — — Refinance out of TDR status — — — — — — — — — — — — Balance, September 30, 2017 $ 3,062 $ — $ 426 $ 9,586 $ 5,348 $ 5,579 $ 4,423 $ 523 $ — $ 29 $ — $ 28,976 Allowance related to troubled debt restructurings $ 461 $ — $ 259 $ 127 $ — $ 217 $ 15 $ — $ — $ — $ — $ 1,079 The following table presents the recorded investment in construction and development, commercial, and commercial real estate loans which are generally evaluated based upon our internal risk ratings. Loan Risk Profile by Internal Risk Rating Construction and Development Commercial Real Estate Land and Land Development Construction Commercial Owner Occupied Non-Owner Occupied Mortgage Warehouse Lines Dollars in thousands 9/30/2017 12/31/2016 9/30/2017 12/31/2016 9/30/2017 12/31/2016 9/30/2017 12/31/2016 9/30/2017 12/31/2016 9/30/2017 12/31/2016 Pass $ 64,744 $ 64,144 $ 28,756 $ 16,584 $ 183,966 $ 117,214 $ 232,329 $ 201,113 $ 454,433 $ 375,181 $ 33,525 $ 85,966 OLEM (Special Mention) 1,593 2,097 — — 2,468 1,471 3,578 567 1,722 1,381 — — Substandard 5,075 5,801 — — 759 403 3,933 1,367 8,388 5,359 — — Doubtful — — — — — — — — — — — — Loss — — — — — — — — — — — — Total $ 71,412 $ 72,042 $ 28,756 $ 16,584 $ 187,193 $ 119,088 $ 239,840 $ 203,047 $ 464,543 $ 381,921 $ 33,525 $ 85,966 The following table presents the recorded investment and payment activity in consumer, residential real estate, and home equity loans, which are generally evaluated based on the aging status of the loans. Performing Nonperforming Dollars in thousands 9/30/2017 12/31/2016 9/30/2016 9/30/2017 12/31/2016 9/30/2016 Residential real estate Non-jumbo $ 348,333 $ 261,020 $ 225,097 $ 7,309 $ 4,621 $ 3,680 Jumbo 61,253 65,628 57,276 — — — Home Equity 81,947 74,402 74,667 773 194 494 Consumer 36,349 25,368 19,574 566 166 182 Other 9,994 9,489 9,649 — — — Total $ 537,876 $ 435,907 $ 386,263 $ 8,648 $ 4,981 $ 4,356 |
Allowance For Loan Losses
Allowance For Loan Losses | 9 Months Ended |
Sep. 30, 2017 | |
Allowance for Loan and Lease Losses Write-offs, Net [Abstract] | |
Allowance for Loan Losses | ALLOWANCE FOR LOAN LOSSES An analysis of the allowance for loan losses for the nine month periods ended September 30, 2017 and 2016 , and for the year ended December 31, 2016 is as follows: Nine Months Ended Year Ended Dollars in thousands 2017 2016 2016 Balance, beginning of year $ 11,674 $ 11,472 $ 11,472 Charge-offs: Commercial 23 379 489 Commercial real estate Owner occupied 3 179 179 Non-owner occupied 65 122 124 Construction and development Land and land development 3 50 127 Construction 21 — 9 Residential real estate Non-jumbo 200 119 169 Jumbo 2 — — Home equity 95 117 175 Mortgage warehouse lines — — — Consumer 147 61 98 Other 179 128 185 Total 738 1,155 1,555 Recoveries: Commercial 13 69 73 Commercial real estate Owner occupied 82 25 31 Non-owner occupied 92 13 17 Construction and development Land and land development 246 514 840 Construction — — — Real estate - mortgage Non-jumbo 50 58 136 Jumbo — 6 6 Home equity 29 3 3 Mortgage warehouse lines — — — Consumer 64 55 76 Other 78 59 75 Total 654 802 1,257 Net charge-offs 84 353 298 Provision for loan losses 875 500 500 Balance, end of period $ 12,465 $ 11,619 $ 11,674 Activity in the allowance for loan losses by loan class during the first nine months of 2017 is as follows: Allowance for loan losses Allowance related to: Loans Beginning Balance Charge- offs Recoveries Provision Ending Balance Loans individua- lly evaluated for impairm- ent Loans collective- ly evaluated for impairm- ent Loans acquired with deteriora- ted credit quality (PCI) Total Loans individua- lly evaluated for impairm- ent Loans collective- ly evaluated for impairm- ent Loans Total Commercial $ 934 $ (23 ) $ 13 $ 293 $ 1,217 $ 259 $ 958 $ — $ 1,217 $ 513 $ 186,669 $ 11 $ 187,193 Commercial real estate Owner occupied 2,109 (3 ) 82 121 2,309 127 2,178 4 2,309 9,586 229,559 695 239,840 Non-owner occupied 3,438 (65 ) 92 1,709 5,174 501 4,670 3 5,174 10,898 451,799 1,846 464,543 Construction and development Land and land development 2,263 (3 ) 246 (1,858 ) 648 525 123 — 648 6,499 64,913 — 71,412 Construction 24 (21 ) — 13 16 — 16 — 16 — 28,756 — 28,756 Residential real estate Non-jumbo 2,174 (200 ) 50 24 2,048 217 1,829 2 2,048 5,928 347,853 1,861 355,642 Jumbo 95 (2 ) — (15 ) 78 15 63 — 78 4,422 55,826 1,005 61,253 Home equity 413 (95 ) 29 261 608 — 608 — 608 524 82,196 — 82,720 Mortgage warehouse lines — — — — — — — — — — 33,525 — 33,525 Consumer 121 (147 ) 64 177 215 — 215 — 215 29 36,886 — 36,915 Other 103 (179 ) 78 150 152 — 152 — 152 — 9,994 — 9,994 Total $ 11,674 $ (738 ) $ 654 $ 875 $ 12,465 $ 1,644 $ 10,812 $ 9 $ 12,465 $ 38,399 $ 1,527,976 $ 5,418 $ 1,571,793 |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Effective July 1, 2017, we early adopted ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment which simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Instead, under the amendments in this ASU, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The adoption of ASU 2017-04 had no impact on our consolidated financial statements. During third quarter 2017, we performed the qualitative assessment of the goodwill of our community banking and insurance services reporting units and determined that the fair values of the reporting units were more likely than not greater than their carrying values. In performing the qualitative assessments, we considered certain events and circumstances specific to each reporting unit, such as macroeconomic conditions, industry and market considerations, overall financial performance and cost factors when evaluating whether it is more likely than not that the fair values of our community banking or insurance services reporting units are less than their carrying values. No indicators of impairment for either reporting unit were noted as of September 30, 2017. The following tables present our goodwill by reporting unit at September 30, 2017 and other intangible assets by reporting unit at September 30, 2017 and December 31, 2016 . Goodwill Activity Dollars in thousands Community Banking Insurance Services Total Balance, January 1, 2017 $ 6,280 $ 4,710 $ 10,990 Reclassifications to goodwill 31 — 31 Acquired goodwill, net 4,252 — 4,252 Balance, September 30, 2017 $ 10,563 $ 4,710 $ 15,273 Other Intangible Assets September 30, 2017 December 31, 2016 Dollars in thousands Community Banking Insurance Services Total Community Banking Insurances Services Total Identifiable intangible assets Gross carrying amount $ 12,528 $ 3,000 $ 15,528 $ 1,610 $ 3,000 $ 4,610 Less: accumulated amortization 872 2,050 2,922 47 1,900 1,947 Net carrying amount $ 11,656 $ 950 $ 12,606 $ 1,563 $ 1,100 $ 2,663 We recorded amortization expense of approximately $974,000 for the nine months ended September 30, 2017 relative to our identifiable intangible assets. Amortization relative to our identifiable intangible assets is expected to approximate the following during the next five years: Core Deposit Customer Dollars in thousands Intangible Intangible 2017 $ 1,210 $ 200 2018 1,471 200 2019 1,368 200 2020 1,265 200 2021 1,162 200 |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2017 | |
Deposits [Abstract] | |
Deposits | DEPOSITS The following is a summary of interest bearing deposits by type as of September 30, 2017 and 2016 and December 31, 2016 : Dollars in thousands September 30, December 31, September 30, Demand deposits, interest bearing $ 397,843 $ 262,591 $ 212,172 Savings deposits 362,653 337,348 321,563 Time deposits 640,362 545,843 500,397 Total $ 1,400,858 $ 1,145,782 $ 1,034,132 Included in time deposits are deposits acquired through a third party (“brokered deposits”) totaling $219.8 million , $205.7 million and $178.9 million at September 30, 2017 , December 31, 2016 , and September 30, 2016 , respectively. A summary of the scheduled maturities for all time deposits as of September 30, 2017 is as follows: Dollars in thousands Three month period ending December 31, 2017 $ 81,870 Year ending December 31, 2018 232,020 Year ending December 31, 2019 140,028 Year ending December 31, 2020 88,444 Year ending December 31, 2021 54,858 Thereafter 43,142 Total $ 640,362 The following is a summary of the maturity distribution of all certificates of deposit in denominations of $100,000 or more as of September 30, 2017 : Dollars in thousands Amount Percent Three months or less $ 52,185 11.9 % Three through six months 54,568 12.4 % Six through twelve months 66,426 15.1 % Over twelve months 265,855 60.6 % Total $ 439,034 100.00 % |
Borrowed Funds
Borrowed Funds | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Borrowed Funds | BORROWED FUNDS Short-term borrowings: A summary of short-term borrowings is presented below: Nine Months Ended September 30, 2017 2016 Dollars in thousands Short-term FHLB Advances Federal Funds Purchased and Lines of Credit Short-term FHLB Advances Federal Funds Purchased and Lines of Credit Balance at September 30 $ 199,500 $ 3,488 $ 231,200 $ 3,457 Average balance outstanding for the period 196,728 3,474 177,239 3,455 Maximum balance outstanding at any month end during period 229,300 3,488 231,200 3,457 Weighted average interest rate for the period 1.10 % 1.03 % 0.59 % 0.50 % Weighted average interest rate for balances outstanding at September 30 1.32 % 1.25 % 0.54 % 0.50 % Long-term borrowings: Our long-term borrowings of $45.8 million , $46.7 million and $74.1 million at September 30, 2017 , December 31, 2016 , and September 30, 2016 respectively, consisted primarily of advances from the Federal Home Loan Bank (“FHLB”) and structured repurchase agreements with unaffiliated institutions. All FHLB advances are collateralized primarily by similar amounts of residential mortgage loans, certain commercial loans, mortgage backed securities and securities of U. S. Government agencies and corporations. Balance at September 30, Balance at Dollars in thousands 2017 2016 2016 Long-term FHLB advances $ 755 $ 792 $ 767 Long-term repurchase agreements 45,000 72,000 45,000 Term loan — 1,354 903 Total $ 45,755 $ 74,146 $ 46,670 At December 31, 2016 , the term loan was secured by the common stock of our subsidiary bank, had a variable interest rate of prime minus 50 basis points and matured in second quarter 2017. Our long term FHLB borrowings and repurchase agreements bear both fixed and variable rates and mature in varying amounts through the year 2026. The average interest rate paid on long-term borrowings for the nine month period ended September 30, 2017 was 4.32% compared to 4.43% for the first nine months of 2016 . Subordinated debentures owed to unconsolidated subsidiary trusts: We have three statutory business trusts that were formed for the purpose of issuing mandatorily redeemable securities (the “capital securities”) for which we are obligated to third party investors and investing the proceeds from the sale of the capital securities in our junior subordinated debentures (the “debentures”). The debentures held by the trusts are their sole assets. Our subordinated debentures totaled $ 19.6 million at September 30, 2017 , December 31, 2016 , and September 30, 2016 . The capital securities held by SFG Capital Trust I, SFG Capital Trust II, and SFG Capital Trust III qualify as Tier 1 capital under Federal Reserve Board guidelines. In accordance with these Guidelines, trust preferred securities generally are limited to 25% of Tier 1 capital elements, net of goodwill. The amount of trust preferred securities and certain other elements in excess of the limit can be included in Tier 2 capital. A summary of the maturities of all long-term borrowings and subordinated debentures for the next five years and thereafter is as follows: Dollars in thousands Long-term borrowings Subordinated debentures owed to unconsolidated subsidiary trusts Year Ending December 31, 2017 $ 4 $ — 2018 45,017 — 2019 18 — 2020 19 — 2021 20 — Thereafter 677 19,589 $ 45,755 $ 19,589 |
Share Based Compensation
Share Based Compensation | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share Based Compensation | SHARE-BASED COMPENSATION The 2014 Long-Term Incentive Plan (“2014 LTIP”) was adopted by our shareholders in May 2014 to enhance the ability of the Company to attract and retain exceptionally qualified individuals to serve as key employees. The LTIP provides for the issuance of up to 500,000 shares of common stock, in the form of equity awards including stock options, restricted stock, restricted stock units, stock appreciation rights ("SARs"), performance units, other stock-based awards or any combination thereof, to our key employees. Stock options awarded under the 2009 Officer Stock Option Plan and the 1998 Officer Stock Option Plan (collectively, the “Plans”) were not altered by the 2014 LTIP, and remain subject to the terms of the Plans. However, under the terms of the 2014 LTIP, all shares of common stock remaining issuable under the Plans at the time the 2014 LTIP was adopted ceased to be available for future issuance. Under the 2014 LTIP and the Plans, stock options and SARs have generally been granted with an exercise price equal to the fair value of Summit's common stock on the grant date. We periodically grant employee stock options to individual employees. During first quarter 2017, we granted 53,309 SARs that become exercisable ratably over five years ( 20% per year) and expire ten years after the grant date. We granted 34,306 SARS that become exercisable ratably over seven years ( 14.29% per year) and expire ten years after the grant date. There were no grants of stock options or SARs during the three months ended September 30, 2017 or the first nine months of 2016. The fair value of our employee stock options and SARs granted under the Plans is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options and SARs granted but are not considered by the model. Because our employee stock options and SARs have characteristics significantly different from those of traded options and because changes in the subjective input assumptions can materially affect the fair value estimate, in management’s opinion, the existing models do not necessarily provide a reliable single measure of the fair value of its employee stock options and SARs at the time of grant. The assumptions used to value SARs issued during 2017 were as follows: 5-year vesting SARs 7-year vesting SARs Risk-free interest rate 2.16 % 2.24 % Expected dividend yield 1.45 % 1.45 % Expected common stock volatility 60.05 % 59.60 % Expected life 6.5 years 7.0 years We recognize compensation expense based on the estimated number of stock awards expected to actually vest, exclusive of the awards expected to be forfeited. During the first nine months of 2017 and 2016 , our share-based compensation expense was $285,000 and $150,000 and the related deferred tax benefits were approximately $105,000 and $56,000 . A summary of activity in our Plans during the first nine months of 2017 and 2016 is as follows: For the Nine Months Ended September 30, 2017 2016 Options/SARs Weighted-Average Exercise Price Options/SARs Weighted-Average Exercise Price Outstanding, January 1 217,857 $ 13.56 244,147 $ 14.05 Granted 87,615 26.01 — — Exercised (2,000 ) 6.21 — — Forfeited — — — — Expired — — — — Outstanding, September 30 303,472 $ 17.20 244,147 $ 14.05 Other information regarding awards outstanding and exercisable at September 30, 2017 is as follows: Options/SARs Outstanding Options/SARs Exercisable Range of exercise price # of awards WAEP Wted. Avg. Remaining Contractual Life (yrs) Aggregate Intrinsic Value (in thousands) # of awards WAEP Aggregate Intrinsic Value (in thousands) $2.54 - $6.00 5,000 $ 2.54 5.83 $ 116 5,000 $ 2.54 $ 116 6.01 - 10.00 5,640 8.91 1.29 94 5,640 8.91 94 10.01 - 17.50 166,717 12.01 7.57 2,275 66,687 12.01 910 17.51 - 20.00 15,100 17.81 0.78 119 15,100 17.81 119 20.01 - 25.93 111,015 25.99 7.64 — 23,400 25.93 — 303,472 17.20 $ 2,604 115,827 15.02 $ 1,239 |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Off-Balance Sheet Arrangements We are a party to certain financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of our customers. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the statement of financial position. The contract amounts of these instruments reflect the extent of involvement that we have in this class of financial instruments. Many of our lending relationships contain both funded and unfunded elements. The funded portion is reflected on our balance sheet. The unfunded portion of these commitments is not recorded on our balance sheet until a draw is made under the loan facility. Since many of the commitments to extend credit may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash flow requirements. A summary of the total unfunded, or off-balance sheet, credit extension commitments follows: Dollars in thousands September 30, Commitments to extend credit: Revolving home equity and credit card lines $ 68,616 Construction loans 56,715 Other loans 104,778 Standby letters of credit 3,469 Total $ 233,578 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. We evaluate each customer's credit worthiness on a case-by-case basis. The amount of collateral obtained, if we deem necessary upon extension of credit, is based on our credit evaluation. Collateral held varies but may include accounts receivable, inventory, equipment or real estate. Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party. Our exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. We use the same credit policies in making commitments and conditional obligations as we do for on-balance sheet instruments. Litigation On May 13, 2014, the ResCap Liquidating Trust (“ResCap”), as successor to Residential Funding Company, LLC f/k/a Residential Funding Corporation (“RFC”), filed a complaint against Summit Financial Mortgage, LLC (“Summit Mortgage”), a former residential mortgage subsidiary of Summit whose operations were discontinued in 2007, in the United States Bankruptcy Court for the Southern District of New York and subsequently amended its complaint on July 25, 2014. Furthermore, on January 23, 2017, ResCap, as successor to RFC (together with RFC, the "RFC Parties"), filed a complaint against Summit Community Bank, Inc., as successor to Shenandoah Valley Community Bank (“Summit”), in the United States District Court for the District of Minnesota (collectively, the “ResCap Litigation”). Additional information regarding the ResCap Litigation is included under the caption “Legal Contingencies” in Note 17 of our consolidated financial statements beginning on page 92 of our Form 10-K for the year ended December 31, 2016. On April 24, 2017, Summit Community Bank, Inc. entered into a Settlement and Release Agreement (the “Settlement Agreement”) with the RFC parties with respect to the Rescap Litigation. Under the Settlement Agreement, Summit Community Bank paid $9.9 million to fully resolve all claims by the RFC Parties, and to avoid the further costs, disruption, and distraction of defending the Rescap Litigation. Summit recorded a charge to noninterest expense in its consolidated statement of income for the three months ended March 31, 2017 to recognize this settlement. We are not a party to any other litigation except for matters that arise in the normal course of business. While it is impossible to ascertain the ultimate resolution or range of financial liability if any, with respect to these contingent matters, in the opinion of management, the outcome of these matters will not have a significant adverse effect on the consolidated financial statements. |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | REGULATORY MATTERS We and our subsidiaries are subject to various regulatory capital requirements administered by the banking regulatory agencies. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we and each of our subsidiaries must meet specific capital guidelines that involve quantitative measures of our and our subsidiaries’ assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. We and each of our subsidiaries’ capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require us and each of our subsidiaries to maintain minimum amounts and ratios of Common Equity Tier ("CET1") 1, Total capital and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). We believe, as of September 30, 2017 , that we and each of our subsidiaries met all capital adequacy requirements to which they were subject. The most recent notifications from the banking regulatory agencies categorized us and each of our subsidiaries as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, we and each of our subsidiaries must maintain minimum CET1, Total risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the table below. The Basel III Capital Rules became effective for us on January 1, 2015, with full compliance with all of the final rule's requirements phased in over a multi-year schedule, to be fully phased-in by January 1, 2019. As of September 30, 2017 , our capital levels remained characterized as "well-capitalized" under the new rules. See the Capital Requirements section included in Part I Item 1 Business of our 2015 Annual Report on Form 10-K for further discussion of Basel III. The following table presents Summit's, as well as our subsidiary, Summit Community Bank's ("Summit Community"), actual and required minimum capital amounts and ratios as of September 30, 2017 and December 31, 2016 under the Basel III Capital Rules. The minimum required capital levels presented below reflect the minimum required capital levels (inclusive of the full capital conservation buffers) that will be effective as of January 1, 2019 when the Basel III Capital Rules have been fully phased-in. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Actual Minimum Required Capital - Basel III Fully Phased-in Minimum Required To Be Well Capitalized Dollars in thousands Amount Ratio Amount Ratio Amount Ratio As of September 30, 2017 CET1 (to risk weighted assets) Summit $ 176,666 10.8 % $ 114,506 7.0 % $ 106,327 6.5 % Summit Community 194,410 11.8 % 115,328 7.0 % 107,090 6.5 % Tier I Capital (to risk weighted assets) Summit 195,666 11.9 % 139,761 8.5 % 131,540 8.0 % Summit Community 194,410 11.8 % 140,041 8.5 % 131,803 8.0 % Total Capital (to risk weighted assets) Summit 208,130 12.7 % 172,076 10.5 % 163,882 10.0 % Summit Community 206,874 12.6 % 172,395 10.5 % 164,186 10.0 % Tier I Capital (to average assets) Summit 195,666 9.5 % 82,386 4.0 % 102,982 5.0 % Summit Community 194,410 9.4 % 82,728 4.0 % 103,410 5.0 % Actual Minimum Required Capital - Basel III Fully Phased-in Minimum Required To Be Well Capitalized Dollars in thousands Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016 CET1 (to risk weighted assets) Summit 146,494 10.5 % 97,663 7.0 % 90,687 6.5 % Summit Community 165,747 11.9 % 97,498 7.0 % 90,534 6.5 % Tier I Capital (to risk weighted assets) Summit 164,357 11.8 % 118,393 8.5 % 111,428 8.0 % Summit Community 165,747 11.9 % 118,391 8.5 % 111,427 8.0 % Total Capital (to risk weighted assets) Summit 176,031 12.6 % 146,693 10.5 % 139,707 10.0 % Summit Community 177,421 12.7 % 146,687 10.5 % 139,702 10.0 % Tier I Capital (to average assets) Summit 164,357 9.4 % 69,939 4.0 % 87,424 5.0 % Summit Community 165,747 9.5 % 69,788 4.0 % 87,235 5.0 % |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | SEGMENT INFORMATION We operate three business segments: community banking, insurance services and trust and wealth management services. These segments are primarily identified by the products or services offered. The community banking segment consists of our full service banks which offer customers traditional banking products and services through various delivery channels. The insurance services segment includes two insurance agency offices that sell insurance products. The trust and wealth management segment includes Summit Community Bank's trust division and other non-bank investment products. The accounting policies discussed throughout the notes to the consolidated financial statements apply to each of our business segments. Inter-segment revenue and expense consists of management fees allocated to the community banking, insurance services and trust and wealth management segments for all centralized functions that are performed by the parent, including overall direction in the areas of strategic planning, investment portfolio management, asset/liability management, financial reporting and other financial and administrative services. Information for each of our segments is included below: Three Months Ended September 30, 2017 Dollars in thousands Community Banking Trust and Wealth Management Insurance Services Parent Eliminations Total Net interest income $ 17,408 $ — $ — $ (176 ) $ — $ 17,232 Provision for loan losses 375 — — — — 375 Net interest income after provision for loan losses 17,033 — — (176 ) — 16,857 Other income 2,408 589 1,003 491 (491 ) 4,000 Other expenses 10,844 546 814 734 (491 ) 12,447 Income (loss) before income taxes 8,597 43 189 (419 ) — 8,410 Income tax expense (benefit) 2,482 16 92 (110 ) — 2,480 Net income (loss) $ 6,115 $ 27 $ 97 $ (309 ) $ — $ 5,930 Inter-segment revenue (expense) $ (451 ) $ — $ (40 ) $ 491 $ — $ — Average assets $ 2,110,832 $ — $ 6,288 $ 217,928 $ (246,788 ) $ 2,088,260 Capital expenditures $ 1,497 $ — $ — $ — $ — $ 1,497 Three Months Ended September 30, 2016 Dollars in thousands Community Banking Trust and Wealth Management Insurance Services Parent Eliminations Total Net interest income $ 12,197 $ — $ — $ (160 ) $ — $ 12,037 Provision for loan losses — — — — — — Net interest income after provision for loan losses 12,197 — — (160 ) — 12,037 Other income 1,622 126 1,001 389 (389 ) 2,749 Other expenses 7,249 100 902 557 (389 ) 8,419 Income (loss) before income taxes 6,570 26 99 (328 ) — 6,367 Income tax expense (benefit) 2,145 10 40 (109 ) — 2,086 Net income (loss) $ 4,425 $ 16 $ 59 $ (219 ) $ — $ 4,281 Inter-segment revenue (expense) $ (361 ) $ — $ (28 ) $ 389 $ — $ — Average assets $ 1,609,343 $ — $ 6,005 $ 175,581 $ (201,875 ) $ 1,589,054 Capital expenditures $ 766 $ — $ — $ — $ — $ 766 Nine Months Ended September 30, 2017 Dollars in thousands Community Banking Trust and Wealth Management Insurance Services Parent Eliminations Total Net interest income $ 49,220 $ — $ — $ (511 ) $ — $ 48,709 Provision for loan losses 875 — — — — 875 Net interest income after provision for loan losses 48,345 — — (511 ) — 47,834 Other income 6,280 1,284 2,932 1,473 (1,473 ) 10,496 Other expenses 41,351 1,219 2,495 1,807 (1,473 ) 45,399 Income (loss) before income taxes 13,274 65 437 (845 ) — 12,931 Income tax expense (benefit) 3,386 24 190 (261 ) — 3,339 Net income (loss) $ 9,888 $ 41 $ 247 $ (584 ) $ — $ 9,592 Inter-segment revenue (expense) $ (1,353 ) $ — $ (120 ) $ 1,473 $ — $ — Average assets $ 1,994,042 $ — $ 6,197 $ 203,459 $ (232,211 ) $ 1,971,487 Capital expenditures $ 5,544 $ — $ 36 $ 92 $ — $ 5,672 Nine Months Ended September 30, 2016 Dollars in thousands Community Banking Trust and Wealth Management Insurance Services Parent Eliminations Total Net interest income $ 36,028 $ — $ — $ (478 ) $ — $ 35,550 Provision for loan losses 500 — — — — 500 Net interest income after provision for loan losses 35,528 — — (478 ) — 35,050 Other income 5,240 358 3,003 1,166 (1,166 ) 8,601 Other expenses 21,735 335 2,771 1,735 (1,166 ) 25,410 Income (loss) before income taxes 19,033 23 232 (1,047 ) — 18,241 Income tax expense (benefit) 5,888 9 95 (337 ) — 5,655 Net income (loss) $ 13,145 $ 14 $ 137 $ (710 ) $ — $ 12,586 Inter-segment revenue (expense) $ (1,081 ) $ — $ (85 ) $ 1,166 $ — $ — Average assets $ 1,565,099 $ — $ 5,951 $ 172,840 $ (199,962 ) $ 1,543,928 Capital expenditures $ 1,099 $ — $ 9 $ 91 $ — $ 1,199 |
Derivative Financial Instrument
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | DERIVATIVE FINANCIAL INSTRUMENTS We have entered into three forward-starting, pay-fixed/receive LIBOR interest rate swaps. $ 40 million notional with an effective date of July 18, 2016, was designated as a cash flow hedge of $ 40 million of forecasted variable rate Federal Home Loan Bank advances. Under the terms of this swap we will pay a fixed rate of 2.98% for a 3 year period. $ 30 million notional with an effective date of April 18, 2016, was designated as a cash flow hedge of $ 30 million of forecasted variable rate Federal Home Loan Bank advances. Under the terms of this swap we will pay a fixed rate of 2.89% for a 4.5 year period. $ 40 million notional with an effective date of October 18, 2016, was designated as a cash flow hedge of $ 40 million of forecasted variable rate Federal Home Loan Bank advances. Under the terms of the swap we will pay a fixed rate of 2.84% for a 3 year period. We have entered into two pay fixed/receive variable interest rate swaps to hedge fair value variability of two commercial fixed rate loans with the same principal, amortization, and maturity terms of the underlying loans, which are designated as fair value hedges. Under the terms of a $9.95 million original notional swap with an effective date of January 15, 2015, we will pay a fixed rate of 4.33% for a 10 year period. Under the terms of a $11.3 million original notional swap with an effective date of December 18, 2015, we will pay a fixed rate of 4.30% for a 10 year period. A summary of our derivative financial instruments as of September 30, 2017 and December 31, 2016 follows: September 30, 2017 Notional Amount Derivative Fair Value Net Ineffective Dollars in thousands Asset Liability Hedge Gains/(Losses) CASH FLOW HEDGES Pay-fixed/receive-variable interest rate swaps Short term borrowings $ 110,000 $ — $ 3,056 $ — FAIR VALUE HEDGES Pay-fixed/receive-variable interest rate swaps Commercial real estate loans $ 20,103 $ 125 $ — $ — December 31, 2016 Notional Amount Derivative Fair Value Net Ineffective Dollars in thousands Asset Liability Hedge Gains/(Losses) CASH FLOW HEDGES Pay-fixed/receive-variable interest rate swaps Short term borrowings $ 110,000 $ — $ 4,611 $ — FAIR VALUE HEDGES Pay-fixed/receive-variable interest rate swaps Commercial real estate loans $ 20,507 $ 200 $ — $ — Loan commitments: ASC Topic 815, Derivatives and Hedging, requires that commitments to make mortgage loans should be accounted for as derivatives if the loans are to be held for sale, because the commitment represents a written option and accordingly is recorded at the fair value of the option liability. |
Acquisitions Acquisitions
Acquisitions Acquisitions | 9 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | NOTE 16. ACQUISITIONS FCB Acquisition On April 1, 2017, Summit Community Bank, Inc. ("SCB"), a wholly-owned subsidiary of Summit, acquired 100% of the ownership of First Century Bankshares, Inc. ("FCB") and its subsidiary First Century Bank, headquartered in Bluefield, West Virginia. Partnering with FCB not only expands Summit’s community banking footprint into southwest West Virginia and southwestern Virginia, it also notably will provide us the opportunity to offer trust services throughout our Bank’s market area, a capability which we currently do not possess. Pursuant to the Agreement and Plan of Merger dated June 1, 2016, FCB's shareholders received cash in the amount of $22.50 per share or 1.2433 shares of Summit common stock, or a combination of cash and Summit stock, subject to proration to result in approximately 35% cash and 65% stock consideration in the aggregate. Total stock consideration was $33.1 million or 1,537,912 shares of Summit common stock and cash consideration was $15.0 million . FCB's assets and liabilities approximated $406 million and $361 million , respectively, at March 31, 2017. The assets and liabilities of FCB were recorded at their respective acquisition date fair values. Determining the fair value of assets and liabilities, particularly related to the loan portfolio, is a complicated process involving significant judgment regarding methods and assumptions used to calculate the estimated fair values. The fair values are preliminary and subject to refinement for up to one year after the acquisition date as additional information relative to the acquisition date fair values becomes available. We recognized goodwill of $4.25 million in connection with the acquisition, which is not amortized for financial reporting purposes but is subject to annual impairment testing. The core deposit intangible represents the value of long-term deposit relationships acquired in this transaction and will be amortized over an estimated weighted average life of 15 years using an accelerated method which approximates the estimated run-off of the acquired deposits. The following table details the total consideration paid on April 1, 2017 in connection with the acquisition of FCB, the fair values of the assets acquired and liabilities assumed and the resulting goodwill. Dollars in thousands As Recorded by FCB Estimated Fair Value Adjustments Estimated Fair Values as Recorded by Summit Cash consideration $ 14,989 Stock consideration 33,127 Total consideration 48,116 Identifiable assets acquired: Cash and cash equivalents $ 54,042 $ — $ 54,042 Securities available for sale, at fair value 101,022 295 101,317 Loans Purchased performing 224,809 (2,693 ) 222,116 Purchased credit impaired 4,167 (540 ) 3,627 Allowance for loan losses (2,511 ) 2,511 — Premises and equipment 10,396 (4,222 ) 6,174 Property held for sale 4,596 (2,219 ) 2,377 Goodwill 5,183 (5,183 ) — Core deposit intangibles — 10,916 10,916 Other assets 4,450 652 5,102 Total identifiable assets acquired 406,154 (483 ) 405,671 Identifiable liabilities assumed: Deposits 349,726 807 350,533 Other liabilities 11,216 58 11,274 Total identifiable liabilities assumed 360,942 865 361,807 Net identifiable assets acquired $ 45,212 $ (1,348 ) $ 43,864 Goodwill resulting from acquisition $ 4,252 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented above. Cash and cash equivalents: The carrying amount of these assets approximates their fair value based on the short-term nature of these assets. Securities : Fair values for securities are based on quoted market prices, where available. If quoted market prices are not available, fair value estimates are based on observable inputs including quoted market prices for similar instruments, quoted market prices that are not in an active market or other inputs that are observable in the market. Loans: Fair values for loans are based on a discounted cash flow methodology that considered factors including the type of loan and related collateral, collectibility, fixed or variable interest rate, term of loan, amortization status and current market rates. Loans were grouped together according to similar characteristics and were treated in the aggregate when applying various valuation techniques. The discount rates used for loans are based on current market rates for new originations of comparable loans and include adjustments for liquidity concerns, if any. Premises and equipment: The fair value of FCB's real property was determined based upon appraisals by licensed appraisers. The fair value of tangible personal property, which is not material, was assumed to equal the carrying value by FCB. Property held for sale: The fair value of FCB's property held for sale was determined on a property by property basis based upon the lessor of the properties present asking price or its appraised value by licensed appraisers, less estimated costs to sell. Core deposit intangible: This intangible asset represents the value of the relationships with deposit customers. The fair value was estimated based on a discounted cash flow methodology that gave appropriate consideration to expected customer attrition rates, cost of the deposit base, reserve requirements and the net maintenance cost attributable to customer deposits. Deposits: The fair values of the demand and savings deposits by definition equal the amount payable on demand at the acquisition date. The fair values for time deposits are estimated using a discounted cash flow calculation that applies interest rates currently being offered to the contractual interest rates on such time deposits. Loans acquired in a business combination are recorded at estimated fair value on the date of acquisition without the carryover of the related allowance for loan losses. Purchased credit-impaired (PCI) loans are those for which there is evidence of credit deterioration since origination and for which it is probable at the date of acquisition that we will not collect all contractually required principal and interest payments. When determining fair value, PCI loans are identified as of the date of acquisition based upon evidence of credit quality such as internal risk grades and past due and nonaccrual status. The difference between contractually required payments of principal and interest at acquisition and the cash flows expected to be collected at acquisition is accounted for as a "nonaccretable difference". For purposes of determining the nonaccretable difference, no prepayments are generally assumed in determining contractually required payments of principal and interest or cash flows expected to be collected. Subsequent decreases to the expected cash flows will generally result in a provision for loan losses. Subsequent significant increases in cash flows may result in a reversal of the provision for loan losses to the extent of prior charges, or a transfer from nonaccretable difference to accretable yield. Further, any excess of cash flows expected at acquisition over the estimated fair value is accounted for as accretable yield and is recognized as interest income over the remaining life of the loan when there is a reasonable expectation about the amount and timing of such cash flows. Loans not designated PCI loans as of the acquisition date are designated purchased performing loans. We account for purchased performing loans using the contractual cash flows method of recognizing discount accretion based on the acquired loans’ contractual cash flows. Purchased performing loans are recorded at fair value, including a credit discount. The fair value discount is accreted as an adjustment to yield over the estimated lives of the loans. There is no allowance for loan losses established at the acquisition date for purchased performing loans. A provision for loan losses is recorded for any deterioration in these loans subsequent to the acquisition. The PCI loan portfolio related to the FCB acquisition was recorded at estimated fair value on the date of acquisition, April 1, 2017, as follows: Dollars in thousands Acquired Loans -PCI Contractual principal and interest due $ 4,885 Nonaccretable difference (597 ) Expected cash flows 4,288 Accretable yield (661 ) Purchase credit impaired loans - estimated fair value $ 3,627 HCB Acquisition On October 1, 2016, Summit Community Bank, Inc. ("SCB"), a wholly-owned subsidiary of Summit, acquired 100% of the ownership of Highland County Bankshares, Inc. ("HCB") and its subsidiary First and Citizens Bank, headquartered in Monterey, Virginia for cash consideration of $21.8 million . HCB's assets and liabilities approximated $123 million and $107 million , respectively, at September 30, 2016. Pro Forma The following table estimates the pro forma revenue, net income and diluted earnings per share of the combined entities of Summit, HCB and FCB as if the acquisitions had taken place on January 1, 2016. All acquisition related expenses were excluded from the pro forma information. We expect to achieve operational cost savings and other efficiencies as a result of the acquisitions which are not reflected in the pro forma amounts below. Summit, HCB & FCB Pro Forma For the Nine Months Ended September 30, Dollars in thousands, except per share amounts 2017 2016 Total revenues, net of interest expense $ 64,313 $ 61,457 Net income $ 11,176 $ 15,017 Diluted earnings per share $ 0.95 $ 1.23 The following presents the financial effects of adjustments recognized in the statement of income for the three and nine months ended September 30, 2017 related to business combinations that occurred during 2016 or 2017. Income increase (decrease) Dollars in thousands Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Interest and fees on loans $ 224 $ 712 Interest expense on deposits 76 167 Amortization of intangibles (399 ) (825 ) Income before income tax expense $ (99 ) $ 54 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) (Notes) | 9 Months Ended |
Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 17. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following is changes in accumulated other comprehensive income (loss) by component, net of tax, for the three and nine months ending September 30, 2017 and 2016 . For the Three Months Ended Dollars in thousands Gains and Losses on Other Post-Retirement Benefits Gains and Losses on Cash Flow Hedges Unrealized Gains (Losses) on Available-for-Sale Securities Total Beginning balance $ 219 $ (2,238 ) $ 1,712 $ (307 ) Other comprehensive income before reclassification — 313 399 712 Amounts reclassified from accumulated other comprehensive income — — (16 ) (16 ) Net current period other comprehensive income — 313 383 696 Ending balance $ 219 $ (1,925 ) $ 2,095 $ 389 For the Three Months Ended Dollars in thousands Gains and Losses on Other Post-Retirement Benefits Gains and Losses on Cash Flow Hedges Unrealized Gains (Losses) on Available-for-Sale Securities Total Beginning balance $ — $ (5,135 ) $ 5,014 $ (121 ) Other comprehensive income before reclassification — 608 (867 ) (259 ) Amounts reclassified from accumulated other comprehensive income — — (38 ) (38 ) Net current period other comprehensive income (loss) — 608 (905 ) (297 ) Ending balance $ — $ (4,527 ) $ 4,109 $ (418 ) For the Nine Months Ended Dollars in thousands Gains and Losses on Other Post-Retirement Benefits Gains and Losses on Cash Flow Hedges Unrealized Gains (Losses) on Available-for-Sale Securities Total Beginning balance $ — $ (2,905 ) $ (357 ) $ (3,262 ) Other comprehensive income before reclassification 219 980 2,489 3,688 Amounts reclassified from accumulated other comprehensive income — — (37 ) (37 ) Net current period other comprehensive income 219 980 2,452 3,651 Ending balance $ 219 $ (1,925 ) $ 2,095 $ 389 For the Nine Months Ended Dollars in thousands Gains and Losses on Other Post-Retirement Benefits Gains and Losses on Cash Flow Hedges Unrealized Gains (Losses) on Available-for-Sale Securities Total Beginning balance $ — $ (3,195 ) $ 2,739 $ (456 ) Other comprehensive income (loss) before reclassification — (1,332 ) 1,897 565 Amounts reclassified from accumulated other comprehensive income — — (527 ) (527 ) Net current period other comprehensive income — (1,332 ) 1,370 38 Ending balance $ — $ (4,527 ) $ 4,109 $ (418 ) |
Income Taxes Income Taxes
Income Taxes Income Taxes | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 18. INCOME TAXES Our income tax expense for the three months ended September 30, 2017 and September 30, 2016 totaled $2.5 million and $2.1 million , respectively. For the nine months ended September 30, 2017 and September 30, 2016 our income tax expense totaled $3.3 million and $5.7 million , respectively. Our effective tax rate (income tax expense as a percentage of income before taxes) for the quarters ended September 30, 2017 and 2016 was 29.5% and 32.8% , respectively, and for the nine months ended September 30, 2017 and 2016 were 25.8% and 31.0% , respectively. A reconciliation between the statutory income tax rate and our effective income tax rate for the three and nine months ended September 30, 2017 and 2016 is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Dollars in thousands Percent Percent Percent Percent Applicable statutory rate 35.0 % 35.0 % 35.0 % 35.0 % Increase (decrease) in rate resulting from: Tax-exempt interest and dividends, net (5.1 )% (4.2 )% (8.8 )% (4.4 )% State income taxes (benefit), net of Federal income tax benefit 1.8 % 1.7 % 1.8 % 1.6 % Other, net (2.2 )% 0.3 % (2.2 )% (1.2 )% Effective income tax rate 29.5 % 32.8 % 25.8 % 31.0 % The components of applicable income tax expense for the three and nine months ended September 30, 2017 and 2016 are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Dollars in thousands 2017 2016 2017 2016 Current Federal $ 2,436 $ 1,992 $ 3,315 $ 5,439 State 251 171 388 451 2,687 2,163 3,703 5,890 Deferred Federal (190 ) (76 ) (333 ) (234 ) State (17 ) (1 ) (31 ) (1 ) (207 ) (77 ) (364 ) (235 ) Total $ 2,480 $ 2,086 $ 3,339 $ 5,655 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis. Balance at Fair Value Measurements Using: Dollars in thousands September 30, 2017 Level 1 Level 2 Level 3 Available for sale securities U.S. Government sponsored agencies $ 24,135 $ — $ 24,135 $ — Mortgage backed securities: Government sponsored agencies 121,759 — 121,759 — Nongovernment sponsored entities 2,755 — 2,755 — State and political subdivisions 13,435 — 13,435 — Corporate debt securities 16,190 — 16,190 — Other equity securities 137 — 137 — Tax-exempt state and political subdivisions 150,315 — 150,315 — Total available for sale securities $ 328,726 $ — $ 328,726 $ — Derivative financial assets Interest rate swaps $ 125 $ — $ 125 $ — Derivative financial liabilities Interest rate swaps $ 3,056 $ — $ 3,056 $ — Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2016 Level 1 Level 2 Level 3 Available for sale securities U.S. Government sponsored agencies $ 15,174 $ — $ 15,174 $ — Mortgage backed securities: Government sponsored agencies 138,846 — 138,846 — Nongovernment sponsored entities 4,653 — 4,653 — Corporate debt securities 18,170 — 18,170 — Other equity securities 137 — 137 — Tax-exempt state and political subdivisions 89,562 — 89,562 — Total available for sale securities $ 266,542 $ — $ 266,542 $ — Derivative financial assets Interest rate swaps $ 200 $ — $ 200 $ — Derivative financial liabilities Interest rate swaps $ 4,611 $ — $ 4,611 $ — |
Fair Value Measurements, Nonrecurring | Assets measured at fair value on a nonrecurring basis are included in the table below. Balance at Fair Value Measurements Using: Dollars in thousands September 30, 2017 Level 1 Level 2 Level 3 Residential mortgage loans held for sale $ 220 $ — $ 220 $ — Collateral-dependent impaired loans Commercial real estate $ 518 $ — $ 518 $ — Construction and development 945 — 945 — Residential real estate 203 — 203 — Total collateral-dependent impaired loans $ 1,666 $ — $ 1,666 $ — Property held for sale Commercial real estate $ 1,476 $ — $ 1,292 $ 184 Construction and development 16,627 — 16,627 — Residential real estate 352 — 352 — Total property held for sale $ 18,455 $ — $ 18,271 $ 184 Balance at Fair Value Measurements Using: Dollars in thousands December 31, 2016 Level 1 Level 2 Level 3 Residential mortgage loans held for sale $ 176 $ — $ 176 $ — Collateral-dependent impaired loans Construction and development $ 945 $ — $ 945 $ — Residential real estate 130 — 130 — Total collateral-dependent impaired loans $ 1,075 $ — $ 1,075 $ — Property held for sale Commercial real estate $ 976 $ — $ 976 $ — Construction and development 19,327 — 19,327 — Residential real estate 279 — 279 — Total property held for sale $ 20,582 $ — $ 20,582 $ — |
Fair Value, by Balance Sheet Grouping | The carrying values and estimated fair values of our financial instruments are summarized below: September 30, 2017 Fair Value Measurements Using: Dollars in thousands Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 51,214 $ 51,214 $ — $ 51,214 $ — Securities available for sale 328,726 328,726 — 328,726 — Other investments 12,170 12,170 — 12,170 — Loans held for sale, net 220 220 — 220 — Loans, net 1,559,328 1,557,227 — 1,666 1,555,561 Accrued interest receivable 7,979 7,979 — 7,979 — Derivative financial assets 125 125 — 125 — $ 1,959,762 $ 1,957,661 $ — $ 402,100 $ 1,555,561 Financial liabilities Deposits $ 1,616,768 $ 1,637,258 $ — $ 1,637,258 $ — Short-term borrowings 202,988 202,988 — 202,988 — Long-term borrowings 45,755 46,962 — 46,962 — Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 — 19,589 — Accrued interest payable 912 912 — 912 — Derivative financial liabilities 3,056 3,056 — 3,056 — $ 1,889,068 $ 1,910,765 $ — $ 1,910,765 $ — December 31, 2016 Fair Value Measurements Using: Dollars in thousands Carrying Value Estimated Fair Value Level 1 Level 2 Level 3 Financial assets Cash and cash equivalents $ 46,616 $ 46,616 $ — $ 46,616 $ — Securities available for sale 266,542 266,542 — 266,542 — Other investments 12,942 12,942 — 12,942 — Loans held for sale, net 176 176 — 176 — Loans, net 1,307,862 1,321,235 — 1,075 1,320,160 Accrued interest receivable 6,167 6,167 — 6,167 — Derivative financial assets 200 200 — 200 — $ 1,640,505 $ 1,653,878 $ — $ 333,718 $ 1,320,160 Financial liabilities Deposits $ 1,295,519 $ 1,309,820 $ — $ 1,309,820 $ — Short-term borrowings 224,461 224,461 — 224,461 — Long-term borrowings 46,670 49,013 — 49,013 — Subordinated debentures owed to unconsolidated subsidiary trusts 19,589 19,589 — 19,589 — Accrued interest payable 736 736 — 736 — Derivative financial liabilities 4,611 4,611 — 4,611 — $ 1,591,586 $ 1,608,230 $ — $ 1,608,230 $ — |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The computations of basic and diluted earnings per share follow: For the Three Months Ended September 30, 2017 2016 Dollars in thousands, except per share amounts Income (Numerator) Common Shares (Denominator) Per Share Income (Numerator) Common Shares (Denominator) Per Share Net income $ 5,930 $ 4,281 Basic earnings per share $ 5,930 12,299,987 $ 0.48 $ 4,281 10,692,423 $ 0.40 Effect of dilutive securities: Stock options 10,911 12,865 Stock appreciation rights (SARs) 8,061 21,851 Diluted earnings per share $ 5,930 12,318,959 $ 0.48 $ 4,281 10,727,139 $ 0.40 For the Nine Months Ended September 30, 2017 2016 Dollars in thousands, except per share amounts Income (Numerator) Common Shares (Denominator) Per Share Income (Numerator) Common Shares (Denominator) Per Share Net income $ 9,592 $ 12,586 Basic earnings per share $ 9,592 11,781,342 $ 0.81 $ 12,586 10,682,129 $ 1.18 Effect of dilutive securities: Stock options 11,336 8,774 Stock appreciation rights (SARs) 14,324 1,443 Diluted earnings per share $ 9,592 11,807,002 $ 0.81 $ 12,586 10,692,346 $ 1.18 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Available-for-sale Securities [Abstract] | |
Available-for-sale Securities | The amortized cost, unrealized gains, unrealized losses and estimated fair values of securities at September 30, 2017 , December 31, 2016 , and September 30, 2016 are summarized as follows: September 30, 2017 Amortized Unrealized Estimated Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities U.S. Government and agencies and corporations $ 23,591 $ 608 $ 64 $ 24,135 Residential mortgage-backed securities: Government-sponsored agencies 120,898 1,580 719 121,759 Nongovernment-sponsored entities 2,714 49 8 2,755 State and political subdivisions General obligations 2,803 11 1 2,813 Other revenues 10,568 83 29 10,622 Corporate debt securities 16,326 — 136 16,190 Total taxable debt securities 176,900 2,331 957 178,274 Tax-exempt debt securities State and political subdivisions General obligations 70,714 1,382 510 71,586 Water and sewer revenues 25,049 433 74 25,408 Lease revenues 14,250 283 71 14,462 Electric revenues 6,226 76 23 6,279 University revenues 5,290 3 22 5,271 Other revenues 26,831 593 115 27,309 Total tax-exempt debt securities 148,360 2,770 815 150,315 Equity securities 137 — — 137 Total available for sale securities $ 325,397 $ 5,101 $ 1,772 $ 328,726 December 31, 2016 Amortized Unrealized Estimated Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities U.S. Government and agencies and corporations $ 14,580 $ 642 $ 48 $ 15,174 Residential mortgage-backed securities: Government-sponsored agencies 138,451 1,554 1,159 138,846 Nongovernment-sponsored entities 4,631 44 22 4,653 Corporate debt securities 18,295 23 148 18,170 Total taxable debt securities 175,957 2,263 1,377 176,843 Tax-exempt debt securities State and political subdivisions General obligations 49,449 569 1,388 48,630 Water and sewer revenues 9,087 63 149 9,001 Lease revenues 9,037 7 201 8,843 Electric revenues 3,247 10 48 3,209 Sales tax revenues 2,870 — 34 2,836 Other revenues 17,321 93 371 17,043 Total tax-exempt debt securities 91,011 742 2,191 89,562 Equity securities 137 — — 137 Total available for sale securities $ 267,105 $ 3,005 $ 3,568 $ 266,542 September 30, 2016 Amortized Unrealized Estimated Dollars in thousands Cost Gains Losses Fair Value Available for Sale Taxable debt securities: U.S. Government and agencies and corporations $ 14,818 $ 921 $ 47 $ 15,692 Residential mortgage-backed securities: Government-sponsored agencies 132,913 2,556 264 135,205 Nongovernment-sponsored agencies 5,382 48 29 5,401 State and political subdivisions: Water and sewer revenues 250 — — 250 Corporate debt securities 20,003 49 149 19,903 Total taxable debt securities 173,366 3,574 489 176,451 Tax-exempt debt securities: State and political subdivisions: General obligations 47,014 2,221 115 49,120 Water and sewer revenues 7,980 265 11 8,234 Lease revenues 7,392 321 38 7,675 Sales tax revenues 2,880 124 — 3,004 Other revenues 16,869 701 29 17,541 Total tax-exempt debt securities 82,135 3,632 193 85,574 Equity securities 77 — — 77 Total available for sale securities $ 255,578 $ 7,206 $ 682 $ 262,102 |
Summary of Volume of State and Political Subdivision Securities Held in Portfolio | We own no such securities of any single issuer which we deem to be a concentration. September 30, 2017 Amortized Unrealized Estimated Dollars in thousands Cost Gains Losses Fair Value Texas $ 20,215 $ 440 $ 71 $ 20,584 Michigan 18,823 235 212 18,846 California 15,314 260 64 15,510 Illinois 12,463 244 38 12,669 Pennsylvania 10,603 91 79 10,615 |
Investments Classified by Contractual Maturity Date | The maturities, amortized cost and estimated fair values of securities at September 30, 2017 , are summarized as follows: Dollars in thousands Amortized Cost Estimated Fair Value Due in one year or less $ 46,461 $ 46,984 Due from one to five years 82,524 83,284 Due from five to ten years 33,110 33,119 Due after ten years 163,165 165,202 Equity securities 137 137 $ 325,397 $ 328,726 |
Schedule of Realized Gain (Loss) | The proceeds from sales, calls and maturities of available for sale securities, including principal payments received on mortgage-backed obligations, and the related gross gains and losses realized, for the nine months ended September 30, 2017 and 2016 are as follows: Proceeds from Gross realized Dollars in thousands Sales Calls and Maturities Principal Payments Gains Losses For the Nine Months Ended 2017 Securities available for sale $ 131,345 $ 2,610 $ 24,349 $ 416 $ 358 2016 Securities available for sale $ 63,641 $ 630 $ 27,696 $ 1,117 $ 281 |
Schedule of Unrealized Loss on Investments | Provided below is a summary of securities available for sale which were in an unrealized loss position at September 30, 2017 and December 31, 2016 . September 30, 2017 Less than 12 months 12 months or more Total Dollars in thousands Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Temporarily impaired securities Taxable debt securities U.S. Government agencies and corporations $ 5,374 $ (25 ) $ 2,712 $ (39 ) $ 8,086 $ (64 ) Residential mortgage-backed securities: Government-sponsored agencies 29,222 (316 ) 13,476 (403 ) 42,698 (719 ) Nongovernment-sponsored entities — — 949 (8 ) 949 (8 ) State and political subdivisions: General obligations 734 (1 ) — — 734 (1 ) Other revenues 4,816 (29 ) — — 4,816 (29 ) Corporate debt securities 3,014 (39 ) 1,653 (97 ) 4,667 (136 ) Tax-exempt debt securities State and political subdivisions: General obligations 14,204 (164 ) 10,236 (346 ) 24,440 (510 ) Water and sewer revenues 6,702 (74 ) — — 6,702 (74 ) Lease revenues 571 (2 ) 1,061 (69 ) 1,632 (71 ) Electric revenues 2,146 (23 ) — — 2,146 (23 ) University revenues 3,508 (22 ) — — 3,508 (22 ) Other revenues 4,279 (42 ) 1,278 (73 ) 5,557 (115 ) Total temporarily impaired securities 74,570 (737 ) 31,365 (1,035 ) 105,935 (1,772 ) Total $ 74,570 $ (737 ) $ 31,365 $ (1,035 ) $ 105,935 $ (1,772 ) December 31, 2016 Less than 12 months 12 months or more Total Dollars in thousands Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Estimated Fair Value Unrealized Loss Temporarily impaired securities Taxable debt securities U.S. Government agencies and corporations $ 763 $ (5 ) $ 2,575 $ (43 ) $ 3,338 $ (48 ) Residential mortgage-backed securities: Government-sponsored agencies 55,388 (985 ) 8,389 (174 ) 63,777 (1,159 ) Nongovernment-sponsored entities 97 — 3,013 (22 ) 3,110 (22 ) Corporate debt securities 968 (31 ) 3,136 (117 ) 4,104 (148 ) Tax-exempt debt securities State and political subdivisions: General obligations 33,115 (1,388 ) — — 33,115 (1,388 ) Water and sewer revenues 4,761 (149 ) — — 4,761 (149 ) Lease revenues 7,011 (201 ) — — 7,011 (201 ) Electric revenues 1,973 (48 ) — — 1,973 (48 ) Sales tax revenues 2,836 (34 ) — — 2,836 (34 ) Other revenues 8,445 (371 ) — — 8,445 (371 ) Total temporarily impaired securities 115,357 (3,212 ) 17,113 (356 ) 132,470 (3,568 ) Total $ 115,357 $ (3,212 ) $ 17,113 $ (356 ) $ 132,470 $ (3,568 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Summary of Loans, Net of Unearned Fees | Loans are summarized as follows: Dollars in thousands September 30, December 31, September 30, Commercial $ 187,193 $ 119,088 $ 110,466 Commercial real estate Owner-occupied 239,840 203,047 192,254 Non-owner occupied 464,543 381,921 367,196 Construction and development Land and land development 71,412 72,042 65,430 Construction 28,756 16,584 11,276 Residential real estate Non-jumbo 355,642 265,641 228,777 Jumbo 61,253 65,628 57,276 Home equity 82,720 74,596 75,161 Mortgage warehouse lines 33,525 85,966 108,983 Consumer 36,915 25,534 19,756 Other 9,994 9,489 9,649 Total loans, net of unearned fees 1,571,793 1,319,536 1,246,224 Less allowance for loan losses 12,465 11,674 11,619 Loans, net $ 1,559,328 $ 1,307,862 $ 1,234,605 |
Schedule of Acquired Loans | The outstanding balance and the recorded investment of acquired loans included in the consolidated balance sheet at September 30, 2017 are as follows: Acquired Loans Dollars in thousands Purchased Credit Impaired Purchased Performing Total Outstanding balance $ 6,393 $ 238,314 $ 244,707 Recorded investment Commercial $ 11 $ 31,430 $ 31,441 Commercial real estate Owner-occupied 695 23,084 23,779 Non-owner occupied 1,846 35,704 37,550 Construction and development Land and land development — 9,080 9,080 Construction — 2,226 2,226 Residential real estate Non-jumbo 1,861 114,756 116,617 Jumbo 1,005 3,443 4,448 Home equity — 3,431 3,431 Consumer — 13,050 13,050 Other — 236 236 Total recorded investment $ 5,418 $ 236,440 $ 241,858 |
Summary of Change in Accretable Yield PCI Loans | The following table presents a summary of the change in the accretable yield of the PCI loan portfolio for the period from January 1, 2017 to September 30, 2017: Dollars in thousands Accretable yield, January 1, 2017 $ 290 Accretion (135 ) Additions for First Century Bankshares, Inc. acquisition 661 Reclassification of nonaccretable difference due to improvement in expected cash flows — Other changes, net (13 ) Accretable yield, September 30, 2017 $ 803 |
Schedule of Contractual Aging of Recorded Investment In Past Due Loans By Class | The following table presents the contractual aging of the recorded investment in past due loans by class as of September 30, 2017 and 2016 and December 31, 2016 . At September 30, 2017 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 204 $ 175 $ 65 $ 444 $ 186,749 $ — Commercial real estate Owner-occupied 469 45 740 1,254 238,586 — Non-owner occupied 177 252 1,969 2,398 462,145 — Construction and development Land and land development 268 21 3,880 4,169 67,243 — Construction — — — — 28,756 — Residential mortgage Non-jumbo 4,860 2,062 4,837 11,759 343,883 — Jumbo — — — — 61,253 — Home equity 50 290 657 997 81,723 — Mortgage warehouse lines — — — — 33,525 — Consumer 387 173 405 965 35,950 35 Other 56 — — 56 9,938 — Total $ 6,471 $ 3,018 $ 12,553 $ 22,042 $ 1,549,751 $ 35 At December 31, 2016 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 90 $ 86 $ 165 $ 341 $ 118,747 $ — Commercial real estate Owner-occupied 93 — 509 602 202,445 — Non-owner occupied 340 — 65 405 381,516 — Construction and development Land and land development 423 129 3,852 4,404 67,638 — Construction — — — — 16,584 — Residential mortgage Non-jumbo 4,297 1,889 3,287 9,473 256,168 — Jumbo — — — — 65,628 — Home equity — 302 57 359 74,237 — Mortgage warehouse lines — — — — 85,966 — Consumer 308 84 150 542 24,992 — Other — — — — 9,489 — Total $ 5,551 $ 2,490 $ 8,085 $ 16,126 $ 1,303,410 $ — At September 30, 2016 Past Due > 90 days and Accruing Dollars in thousands 30-59 days 60-89 days > 90 days Total Current Commercial $ 301 $ 138 $ 602 $ 1,041 $ 109,425 $ — Commercial real estate Owner-occupied 251 — 505 756 191,498 — Non-owner occupied 311 78 — 389 366,807 — Construction and development Land and land development 238 — 3,731 3,969 61,461 — Construction — — — — 11,276 — Residential mortgage Non-jumbo 1,932 1,488 2,762 6,182 222,595 — Jumbo — — — — 57,276 — Home equity — 136 318 454 74,707 — Mortgage warehouse lines — — — — 108,983 — Consumer 135 44 148 327 19,429 21 Other — — — — 9,649 — Total $ 3,168 $ 1,884 $ 8,066 $ 13,118 $ 1,233,106 $ 21 |
Schedule of Financing Receivables, Non Accrual Status | The following table presents the nonaccrual loans included in the net balance of loans at September 30, 2017 , December 31, 2016 and September 30, 2016 . September 30, December 31, Dollars in thousands 2017 2016 2016 Commercial $ 757 $ 846 $ 298 Commercial real estate Owner-occupied 740 505 509 Non-owner occupied 2,033 4,362 4,336 Construction and development Land & land development 3,931 4,360 4,465 Construction — — — Residential mortgage Non-jumbo 7,309 3,680 4,621 Jumbo — — — Home equity 773 494 194 Mortgage warehouse lines — — — Consumer 494 148 151 Total $ 16,037 $ 14,395 $ 14,574 |
Impaired Financing Receivables | The following tables present loans individually evaluated for impairment at September 30, 2017 , December 31, 2016 and September 30, 2016 . September 30, 2017 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 254 $ 254 $ — $ 264 $ 10 Commercial real estate Owner-occupied 7,138 7,141 — 4,869 185 Non-owner occupied 9,884 9,886 — 10,142 511 Construction and development Land & land development 5,029 5,029 — 4,729 87 Construction — — — — — Residential real estate Non-jumbo 4,200 4,210 — 4,294 209 Jumbo 3,581 3,580 — 3,605 171 Home equity 524 523 — 523 25 Mortgage warehouse lines — — — — — Consumer 29 29 — 34 3 Total without a related allowance $ 30,639 $ 30,652 $ — $ 28,460 $ 1,201 With a related allowance Commercial $ 259 $ 259 $ 259 $ 266 $ — Commercial real estate Owner-occupied 2,448 2,448 127 2,456 121 Non-owner occupied 1,014 1,018 501 2 — Construction and development Land & land development 1,470 1,470 525 1,482 56 Construction — — — — — Residential real estate Non-jumbo 1,728 1,729 217 1,681 82 Jumbo 841 842 15 847 42 Home equity — — — — — Mortgage warehouse lines — — — — — Consumer — — — — — Total with a related allowance $ 7,760 $ 7,766 $ 1,644 $ 6,734 $ 301 Total Commercial $ 27,496 $ 27,505 $ 1,412 $ 24,210 $ 970 Residential real estate 10,874 10,884 232 10,950 529 Consumer 29 29 — 34 3 Total $ 38,399 $ 38,418 $ 1,644 $ 35,194 $ 1,502 December 31, 2016 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 285 $ 285 $ — $ 247 $ 10 Commercial real estate Owner-occupied 520 520 — 534 31 Non-owner occupied 10,203 10,205 — 10,675 294 Construction and development Land & land development 5,227 5,227 — 5,270 80 Construction — — — — — Residential real estate Non-jumbo 4,055 4,065 — 3,910 193 Jumbo 3,640 3,639 — 3,693 175 Home equity 524 523 — 523 22 Mortgage warehouse lines — — — — — Consumer 44 44 — 50 5 Total without a related allowance $ 24,498 $ 24,508 $ — $ 24,902 $ 810 With a related allowance Commercial $ — $ — $ — $ — $ — Commercial real estate Owner-occupied 6,864 6,864 347 6,879 269 Non-owner occupied 1,311 1,311 197 1,327 43 Construction and development Land & land development 2,066 2,066 585 2,074 80 Construction — — — — — Residential real estate Non-jumbo 2,055 2,057 251 1,851 78 Jumbo 853 853 24 862 44 Home equity — — — — — Mortgage warehouse lines — — — — — Consumer — — — — — Total with a related allowance $ 13,149 $ 13,151 $ 1,404 $ 12,993 $ 514 Total Commercial $ 26,476 $ 26,478 $ 1,129 $ 27,006 $ 807 Residential real estate 11,127 11,137 275 10,839 512 Consumer 44 44 — 50 5 Total $ 37,647 $ 37,659 $ 1,404 $ 37,895 $ 1,324 September 30, 2016 Dollars in thousands Recorded Investment Unpaid Principal Balance Related Allowance Average Impaired Balance Interest Income Recognized while impaired Without a related allowance Commercial $ 791 $ 790 $ — $ 400 $ 9 Commercial real estate Owner-occupied 4,914 4,914 — 4,932 188 Non-owner occupied 10,394 10,396 — 10,831 456 Construction and development Land & land development 6,181 6,181 — 6,207 104 Construction — — — — — Residential real estate Non-jumbo 3,852 3,861 — 3,732 170 Jumbo 3,683 3,682 — 3,711 176 Home equity 713 713 — 710 21 Mortgage warehouse lines — — — — — Consumer 48 48 — 52 5 Total without a related allowance $ 30,576 $ 30,585 $ — $ 30,575 $ 1,129 With a related allowance Commercial $ 19 $ 19 $ 19 $ 6 $ — Commercial real estate Owner-occupied 2,499 2,499 12 2,491 112 Non-owner occupied 1,321 1,321 132 1,332 43 Construction and development Land & land development 1,140 1,141 492 1,155 58 Construction — — — — — Residential real estate Non-jumbo 2,617 2,619 216 2,329 103 Jumbo 859 859 25 864 43 Home equity — — — — — Mortgage warehouse lines — — — — — Consumer — — — — — Total with a related allowance $ 8,455 $ 8,458 $ 896 $ 8,177 $ 359 Total Commercial $ 27,259 $ 27,261 $ 655 $ 27,354 $ 970 Residential real estate 11,724 11,734 241 11,346 513 Consumer 48 48 — 52 5 Total $ 39,031 $ 39,043 $ 896 $ 38,752 $ 1,488 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | The following table presents by class the TDRs that were restructured during the three and nine months ended September 30, 2017 and September 30, 2016 . Generally, the modifications were extensions of term, modifying the payment terms from principal and interest to interest only for an extended period, or reduction in interest rate. All TDRs are evaluated individually for allowance for loan loss purposes. For the Three Months Ended For the Three Months Ended Dollars in thousands Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Commercial real estate Owner-occupied 1 $ 2,302 $ 2,302 — $ — $ — Non-owner occupied 1 148 148 — — — Construction and development Land & land development 1 438 438 — — — Residential real estate Non-jumbo — — — 1 307 307 Total 3 $ 2,888 $ 2,888 1 $ 307 $ 307 For the Nine Months Ended For the Nine Months Ended Dollars in thousands Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Number of Modifications Pre-modification Recorded Investment Post-modification Recorded Investment Commercial real estate Owner-occupied 1 $ 2,302 $ 2,302 — $ — $ — Non-owner occupied 1 148 148 — — — Construction and development Land & land development 1 438 438 — — — Residential real estate Non-jumbo 5 1,086 1,086 4 702 702 Consumer — — — 1 2 2 Total 8 $ 3,974 $ 3,974 5 $ 704 $ 704 |
Schedule of the Activity Regarding TDRs by Loan Type | The following tables detail the activity regarding TDRs by loan type, net of fees, for the three months and nine months ended September 30, 2017 , and the related allowance on TDRs. For the Three Months Ended September 30, 2017 Construction & Land Development Commercial Real Estate Residential Real Estate Dollars in thousands Land & Land Develop- ment Construc- tion Commer- cial Owner Occupied Non- Owner Occupied Non- jumbo Jumbo Home Equity Mortgage Warehouse Lines Con- sumer Other Total Troubled debt restructurings Balance July 1, 2017 $ 2,639 $ — $ 438 $ 7,315 $ 5,245 $ 6,200 $ 4,456 $ 523 $ — $ 34 $ — $ 26,850 Additions 438 — — 2,302 148 — — — — — — 2,888 Charge-offs — — — — — — — — — — — — Net (paydowns) advances (15 ) — (12 ) (31 ) (45 ) (621 ) (33 ) — — (5 ) — (762 ) Transfer into foreclosed properties — — — — — — — — — — — — Refinance out of TDR status — — — — — — — — — — — — Balance, September 30, 2017 $ 3,062 $ — $ 426 $ 9,586 $ 5,348 $ 5,579 $ 4,423 $ 523 $ — $ 29 $ — $ 28,976 Allowance related to troubled debt restructurings $ 461 $ — $ 259 $ 127 $ — $ 217 $ 15 $ — $ — $ — $ — $ 1,079 For the Nine Months Ended September 30, 2017 Construction & Land Development Commercial Real Estate Residential Real Estate Dollars in thousands Land & Land Develop- ment Construc- tion Commer- cial Owner Occupied Non- Owner Occupied Non- jumbo Jumbo Home Equity Mortgage Warehouse Lines Con- sumer Other Total Troubled debt restructurings Balance January 1, 2017 $ 3,337 $ — $ 711 $ 7,383 $ 6,714 $ 5,417 $ 4,493 $ 523 $ — $ 44 $ — $ 28,622 Additions 438 — — 2,302 148 1,086 — — — — — 3,974 Charge-offs — — — — (65 ) — — — — — — (65 ) Net (paydowns) advances (713 ) — (285 ) (99 ) (1,449 ) (924 ) (70 ) — — (15 ) — (3,555 ) Transfer into foreclosed properties — — — — — — — — — — — — Refinance out of TDR status — — — — — — — — — — — — Balance, September 30, 2017 $ 3,062 $ — $ 426 $ 9,586 $ 5,348 $ 5,579 $ 4,423 $ 523 $ — $ 29 $ — $ 28,976 Allowance related to troubled debt restructurings $ 461 $ — $ 259 $ 127 $ — $ 217 $ 15 $ — $ — $ — $ — $ 1,079 |
Financing Receivable Credit Quality Indicators | The following table presents the recorded investment in construction and development, commercial, and commercial real estate loans which are generally evaluated based upon our internal risk ratings. Loan Risk Profile by Internal Risk Rating Construction and Development Commercial Real Estate Land and Land Development Construction Commercial Owner Occupied Non-Owner Occupied Mortgage Warehouse Lines Dollars in thousands 9/30/2017 12/31/2016 9/30/2017 12/31/2016 9/30/2017 12/31/2016 9/30/2017 12/31/2016 9/30/2017 12/31/2016 9/30/2017 12/31/2016 Pass $ 64,744 $ 64,144 $ 28,756 $ 16,584 $ 183,966 $ 117,214 $ 232,329 $ 201,113 $ 454,433 $ 375,181 $ 33,525 $ 85,966 OLEM (Special Mention) 1,593 2,097 — — 2,468 1,471 3,578 567 1,722 1,381 — — Substandard 5,075 5,801 — — 759 403 3,933 1,367 8,388 5,359 — — Doubtful — — — — — — — — — — — — Loss — — — — — — — — — — — — Total $ 71,412 $ 72,042 $ 28,756 $ 16,584 $ 187,193 $ 119,088 $ 239,840 $ 203,047 $ 464,543 $ 381,921 $ 33,525 $ 85,966 |
Schedule of Recorded Investment Evaluated Based on Aging Status of Loans and Payment Activity | The following table presents the recorded investment and payment activity in consumer, residential real estate, and home equity loans, which are generally evaluated based on the aging status of the loans. Performing Nonperforming Dollars in thousands 9/30/2017 12/31/2016 9/30/2016 9/30/2017 12/31/2016 9/30/2016 Residential real estate Non-jumbo $ 348,333 $ 261,020 $ 225,097 $ 7,309 $ 4,621 $ 3,680 Jumbo 61,253 65,628 57,276 — — — Home Equity 81,947 74,402 74,667 773 194 494 Consumer 36,349 25,368 19,574 566 166 182 Other 9,994 9,489 9,649 — — — Total $ 537,876 $ 435,907 $ 386,263 $ 8,648 $ 4,981 $ 4,356 |
Allowance For Loan Losses (Tabl
Allowance For Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Allowance for Loan and Lease Losses Write-offs, Net [Abstract] | |
Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent | An analysis of the allowance for loan losses for the nine month periods ended September 30, 2017 and 2016 , and for the year ended December 31, 2016 is as follows: Nine Months Ended Year Ended Dollars in thousands 2017 2016 2016 Balance, beginning of year $ 11,674 $ 11,472 $ 11,472 Charge-offs: Commercial 23 379 489 Commercial real estate Owner occupied 3 179 179 Non-owner occupied 65 122 124 Construction and development Land and land development 3 50 127 Construction 21 — 9 Residential real estate Non-jumbo 200 119 169 Jumbo 2 — — Home equity 95 117 175 Mortgage warehouse lines — — — Consumer 147 61 98 Other 179 128 185 Total 738 1,155 1,555 Recoveries: Commercial 13 69 73 Commercial real estate Owner occupied 82 25 31 Non-owner occupied 92 13 17 Construction and development Land and land development 246 514 840 Construction — — — Real estate - mortgage Non-jumbo 50 58 136 Jumbo — 6 6 Home equity 29 3 3 Mortgage warehouse lines — — — Consumer 64 55 76 Other 78 59 75 Total 654 802 1,257 Net charge-offs 84 353 298 Provision for loan losses 875 500 500 Balance, end of period $ 12,465 $ 11,619 $ 11,674 |
Allowance for Credit Losses on Financing Receivables | Activity in the allowance for loan losses by loan class during the first nine months of 2017 is as follows: Allowance for loan losses Allowance related to: Loans Beginning Balance Charge- offs Recoveries Provision Ending Balance Loans individua- lly evaluated for impairm- ent Loans collective- ly evaluated for impairm- ent Loans acquired with deteriora- ted credit quality (PCI) Total Loans individua- lly evaluated for impairm- ent Loans collective- ly evaluated for impairm- ent Loans Total Commercial $ 934 $ (23 ) $ 13 $ 293 $ 1,217 $ 259 $ 958 $ — $ 1,217 $ 513 $ 186,669 $ 11 $ 187,193 Commercial real estate Owner occupied 2,109 (3 ) 82 121 2,309 127 2,178 4 2,309 9,586 229,559 695 239,840 Non-owner occupied 3,438 (65 ) 92 1,709 5,174 501 4,670 3 5,174 10,898 451,799 1,846 464,543 Construction and development Land and land development 2,263 (3 ) 246 (1,858 ) 648 525 123 — 648 6,499 64,913 — 71,412 Construction 24 (21 ) — 13 16 — 16 — 16 — 28,756 — 28,756 Residential real estate Non-jumbo 2,174 (200 ) 50 24 2,048 217 1,829 2 2,048 5,928 347,853 1,861 355,642 Jumbo 95 (2 ) — (15 ) 78 15 63 — 78 4,422 55,826 1,005 61,253 Home equity 413 (95 ) 29 261 608 — 608 — 608 524 82,196 — 82,720 Mortgage warehouse lines — — — — — — — — — — 33,525 — 33,525 Consumer 121 (147 ) 64 177 215 — 215 — 215 29 36,886 — 36,915 Other 103 (179 ) 78 150 152 — 152 — 152 — 9,994 — 9,994 Total $ 11,674 $ (738 ) $ 654 $ 875 $ 12,465 $ 1,644 $ 10,812 $ 9 $ 12,465 $ 38,399 $ 1,527,976 $ 5,418 $ 1,571,793 |
Goodwill And Other Intangible34
Goodwill And Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill | The following tables present our goodwill by reporting unit at September 30, 2017 and other intangible assets by reporting unit at September 30, 2017 and December 31, 2016 . Goodwill Activity Dollars in thousands Community Banking Insurance Services Total Balance, January 1, 2017 $ 6,280 $ 4,710 $ 10,990 Reclassifications to goodwill 31 — 31 Acquired goodwill, net 4,252 — 4,252 Balance, September 30, 2017 $ 10,563 $ 4,710 $ 15,273 |
Summary of Other Intangible Assets | Other Intangible Assets September 30, 2017 December 31, 2016 Dollars in thousands Community Banking Insurance Services Total Community Banking Insurances Services Total Identifiable intangible assets Gross carrying amount $ 12,528 $ 3,000 $ 15,528 $ 1,610 $ 3,000 $ 4,610 Less: accumulated amortization 872 2,050 2,922 47 1,900 1,947 Net carrying amount $ 11,656 $ 950 $ 12,606 $ 1,563 $ 1,100 $ 2,663 |
Finite-lived Intangible Assets Amortization Expense | Amortization relative to our identifiable intangible assets is expected to approximate the following during the next five years: Core Deposit Customer Dollars in thousands Intangible Intangible 2017 $ 1,210 $ 200 2018 1,471 200 2019 1,368 200 2020 1,265 200 2021 1,162 200 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Deposits [Abstract] | |
Summary of Interest Bearing Deposits By Type | The following is a summary of interest bearing deposits by type as of September 30, 2017 and 2016 and December 31, 2016 : Dollars in thousands September 30, December 31, September 30, Demand deposits, interest bearing $ 397,843 $ 262,591 $ 212,172 Savings deposits 362,653 337,348 321,563 Time deposits 640,362 545,843 500,397 Total $ 1,400,858 $ 1,145,782 $ 1,034,132 |
Summary of Scheduled Maturities For All Time Deposits | A summary of the scheduled maturities for all time deposits as of September 30, 2017 is as follows: Dollars in thousands Three month period ending December 31, 2017 $ 81,870 Year ending December 31, 2018 232,020 Year ending December 31, 2019 140,028 Year ending December 31, 2020 88,444 Year ending December 31, 2021 54,858 Thereafter 43,142 Total $ 640,362 |
Summary of Maturity Distribution of All Certificates of Deposit | The following is a summary of the maturity distribution of all certificates of deposit in denominations of $100,000 or more as of September 30, 2017 : Dollars in thousands Amount Percent Three months or less $ 52,185 11.9 % Three through six months 54,568 12.4 % Six through twelve months 66,426 15.1 % Over twelve months 265,855 60.6 % Total $ 439,034 100.00 % |
Borrowed Funds (Tables)
Borrowed Funds (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Schedule of Short-term Debt | Short-term borrowings: A summary of short-term borrowings is presented below: Nine Months Ended September 30, 2017 2016 Dollars in thousands Short-term FHLB Advances Federal Funds Purchased and Lines of Credit Short-term FHLB Advances Federal Funds Purchased and Lines of Credit Balance at September 30 $ 199,500 $ 3,488 $ 231,200 $ 3,457 Average balance outstanding for the period 196,728 3,474 177,239 3,455 Maximum balance outstanding at any month end during period 229,300 3,488 231,200 3,457 Weighted average interest rate for the period 1.10 % 1.03 % 0.59 % 0.50 % Weighted average interest rate for balances outstanding at September 30 1.32 % 1.25 % 0.54 % 0.50 % |
Schedule of Long-term Debt Instruments | ll FHLB advances are collateralized primarily by similar amounts of residential mortgage loans, certain commercial loans, mortgage backed securities and securities of U. S. Government agencies and corporations. Balance at September 30, Balance at Dollars in thousands 2017 2016 2016 Long-term FHLB advances $ 755 $ 792 $ 767 Long-term repurchase agreements 45,000 72,000 45,000 Term loan — 1,354 903 Total $ 45,755 $ 74,146 $ 46,670 |
Schedule of Maturities of Long-term Debt | A summary of the maturities of all long-term borrowings and subordinated debentures for the next five years and thereafter is as follows: Dollars in thousands Long-term borrowings Subordinated debentures owed to unconsolidated subsidiary trusts Year Ending December 31, 2017 $ 4 $ — 2018 45,017 — 2019 18 — 2020 19 — 2021 20 — Thereafter 677 19,589 $ 45,755 $ 19,589 |
Share Based Compensation (Table
Share Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The assumptions used to value SARs issued during 2017 were as follows: 5-year vesting SARs 7-year vesting SARs Risk-free interest rate 2.16 % 2.24 % Expected dividend yield 1.45 % 1.45 % Expected common stock volatility 60.05 % 59.60 % Expected life 6.5 years 7.0 years |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of activity in our Plans during the first nine months of 2017 and 2016 is as follows: For the Nine Months Ended September 30, 2017 2016 Options/SARs Weighted-Average Exercise Price Options/SARs Weighted-Average Exercise Price Outstanding, January 1 217,857 $ 13.56 244,147 $ 14.05 Granted 87,615 26.01 — — Exercised (2,000 ) 6.21 — — Forfeited — — — — Expired — — — — Outstanding, September 30 303,472 $ 17.20 244,147 $ 14.05 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | Other information regarding awards outstanding and exercisable at September 30, 2017 is as follows: Options/SARs Outstanding Options/SARs Exercisable Range of exercise price # of awards WAEP Wted. Avg. Remaining Contractual Life (yrs) Aggregate Intrinsic Value (in thousands) # of awards WAEP Aggregate Intrinsic Value (in thousands) $2.54 - $6.00 5,000 $ 2.54 5.83 $ 116 5,000 $ 2.54 $ 116 6.01 - 10.00 5,640 8.91 1.29 94 5,640 8.91 94 10.01 - 17.50 166,717 12.01 7.57 2,275 66,687 12.01 910 17.51 - 20.00 15,100 17.81 0.78 119 15,100 17.81 119 20.01 - 25.93 111,015 25.99 7.64 — 23,400 25.93 — 303,472 17.20 $ 2,604 115,827 15.02 $ 1,239 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of the Total Unfunded, or Off-Balance Sheet, Credit Extension Commitments | A summary of the total unfunded, or off-balance sheet, credit extension commitments follows: Dollars in thousands September 30, Commitments to extend credit: Revolving home equity and credit card lines $ 68,616 Construction loans 56,715 Other loans 104,778 Standby letters of credit 3,469 Total $ 233,578 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Actual Minimum Required Capital - Basel III Fully Phased-in Minimum Required To Be Well Capitalized Dollars in thousands Amount Ratio Amount Ratio Amount Ratio As of September 30, 2017 CET1 (to risk weighted assets) Summit $ 176,666 10.8 % $ 114,506 7.0 % $ 106,327 6.5 % Summit Community 194,410 11.8 % 115,328 7.0 % 107,090 6.5 % Tier I Capital (to risk weighted assets) Summit 195,666 11.9 % 139,761 8.5 % 131,540 8.0 % Summit Community 194,410 11.8 % 140,041 8.5 % 131,803 8.0 % Total Capital (to risk weighted assets) Summit 208,130 12.7 % 172,076 10.5 % 163,882 10.0 % Summit Community 206,874 12.6 % 172,395 10.5 % 164,186 10.0 % Tier I Capital (to average assets) Summit 195,666 9.5 % 82,386 4.0 % 102,982 5.0 % Summit Community 194,410 9.4 % 82,728 4.0 % 103,410 5.0 % Actual Minimum Required Capital - Basel III Fully Phased-in Minimum Required To Be Well Capitalized Dollars in thousands Amount Ratio Amount Ratio Amount Ratio As of December 31, 2016 CET1 (to risk weighted assets) Summit 146,494 10.5 % 97,663 7.0 % 90,687 6.5 % Summit Community 165,747 11.9 % 97,498 7.0 % 90,534 6.5 % Tier I Capital (to risk weighted assets) Summit 164,357 11.8 % 118,393 8.5 % 111,428 8.0 % Summit Community 165,747 11.9 % 118,391 8.5 % 111,427 8.0 % Total Capital (to risk weighted assets) Summit 176,031 12.6 % 146,693 10.5 % 139,707 10.0 % Summit Community 177,421 12.7 % 146,687 10.5 % 139,702 10.0 % Tier I Capital (to average assets) Summit 164,357 9.4 % 69,939 4.0 % 87,424 5.0 % Summit Community 165,747 9.5 % 69,788 4.0 % 87,235 5.0 % |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Information for each of our segments is included below: Three Months Ended September 30, 2017 Dollars in thousands Community Banking Trust and Wealth Management Insurance Services Parent Eliminations Total Net interest income $ 17,408 $ — $ — $ (176 ) $ — $ 17,232 Provision for loan losses 375 — — — — 375 Net interest income after provision for loan losses 17,033 — — (176 ) — 16,857 Other income 2,408 589 1,003 491 (491 ) 4,000 Other expenses 10,844 546 814 734 (491 ) 12,447 Income (loss) before income taxes 8,597 43 189 (419 ) — 8,410 Income tax expense (benefit) 2,482 16 92 (110 ) — 2,480 Net income (loss) $ 6,115 $ 27 $ 97 $ (309 ) $ — $ 5,930 Inter-segment revenue (expense) $ (451 ) $ — $ (40 ) $ 491 $ — $ — Average assets $ 2,110,832 $ — $ 6,288 $ 217,928 $ (246,788 ) $ 2,088,260 Capital expenditures $ 1,497 $ — $ — $ — $ — $ 1,497 Three Months Ended September 30, 2016 Dollars in thousands Community Banking Trust and Wealth Management Insurance Services Parent Eliminations Total Net interest income $ 12,197 $ — $ — $ (160 ) $ — $ 12,037 Provision for loan losses — — — — — — Net interest income after provision for loan losses 12,197 — — (160 ) — 12,037 Other income 1,622 126 1,001 389 (389 ) 2,749 Other expenses 7,249 100 902 557 (389 ) 8,419 Income (loss) before income taxes 6,570 26 99 (328 ) — 6,367 Income tax expense (benefit) 2,145 10 40 (109 ) — 2,086 Net income (loss) $ 4,425 $ 16 $ 59 $ (219 ) $ — $ 4,281 Inter-segment revenue (expense) $ (361 ) $ — $ (28 ) $ 389 $ — $ — Average assets $ 1,609,343 $ — $ 6,005 $ 175,581 $ (201,875 ) $ 1,589,054 Capital expenditures $ 766 $ — $ — $ — $ — $ 766 Nine Months Ended September 30, 2017 Dollars in thousands Community Banking Trust and Wealth Management Insurance Services Parent Eliminations Total Net interest income $ 49,220 $ — $ — $ (511 ) $ — $ 48,709 Provision for loan losses 875 — — — — 875 Net interest income after provision for loan losses 48,345 — — (511 ) — 47,834 Other income 6,280 1,284 2,932 1,473 (1,473 ) 10,496 Other expenses 41,351 1,219 2,495 1,807 (1,473 ) 45,399 Income (loss) before income taxes 13,274 65 437 (845 ) — 12,931 Income tax expense (benefit) 3,386 24 190 (261 ) — 3,339 Net income (loss) $ 9,888 $ 41 $ 247 $ (584 ) $ — $ 9,592 Inter-segment revenue (expense) $ (1,353 ) $ — $ (120 ) $ 1,473 $ — $ — Average assets $ 1,994,042 $ — $ 6,197 $ 203,459 $ (232,211 ) $ 1,971,487 Capital expenditures $ 5,544 $ — $ 36 $ 92 $ — $ 5,672 Nine Months Ended September 30, 2016 Dollars in thousands Community Banking Trust and Wealth Management Insurance Services Parent Eliminations Total Net interest income $ 36,028 $ — $ — $ (478 ) $ — $ 35,550 Provision for loan losses 500 — — — — 500 Net interest income after provision for loan losses 35,528 — — (478 ) — 35,050 Other income 5,240 358 3,003 1,166 (1,166 ) 8,601 Other expenses 21,735 335 2,771 1,735 (1,166 ) 25,410 Income (loss) before income taxes 19,033 23 232 (1,047 ) — 18,241 Income tax expense (benefit) 5,888 9 95 (337 ) — 5,655 Net income (loss) $ 13,145 $ 14 $ 137 $ (710 ) $ — $ 12,586 Inter-segment revenue (expense) $ (1,081 ) $ — $ (85 ) $ 1,166 $ — $ — Average assets $ 1,565,099 $ — $ 5,951 $ 172,840 $ (199,962 ) $ 1,543,928 Capital expenditures $ 1,099 $ — $ 9 $ 91 $ — $ 1,199 |
Derivative Financial Instrume41
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Interest Rate Derivatives | A summary of our derivative financial instruments as of September 30, 2017 and December 31, 2016 follows: September 30, 2017 Notional Amount Derivative Fair Value Net Ineffective Dollars in thousands Asset Liability Hedge Gains/(Losses) CASH FLOW HEDGES Pay-fixed/receive-variable interest rate swaps Short term borrowings $ 110,000 $ — $ 3,056 $ — FAIR VALUE HEDGES Pay-fixed/receive-variable interest rate swaps Commercial real estate loans $ 20,103 $ 125 $ — $ — December 31, 2016 Notional Amount Derivative Fair Value Net Ineffective Dollars in thousands Asset Liability Hedge Gains/(Losses) CASH FLOW HEDGES Pay-fixed/receive-variable interest rate swaps Short term borrowings $ 110,000 $ — $ 4,611 $ — FAIR VALUE HEDGES Pay-fixed/receive-variable interest rate swaps Commercial real estate loans $ 20,507 $ 200 $ — $ — |
Acquisitions Acquisitions (Tabl
Acquisitions Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table details the total consideration paid on April 1, 2017 in connection with the acquisition of FCB, the fair values of the assets acquired and liabilities assumed and the resulting goodwill. Dollars in thousands As Recorded by FCB Estimated Fair Value Adjustments Estimated Fair Values as Recorded by Summit Cash consideration $ 14,989 Stock consideration 33,127 Total consideration 48,116 Identifiable assets acquired: Cash and cash equivalents $ 54,042 $ — $ 54,042 Securities available for sale, at fair value 101,022 295 101,317 Loans Purchased performing 224,809 (2,693 ) 222,116 Purchased credit impaired 4,167 (540 ) 3,627 Allowance for loan losses (2,511 ) 2,511 — Premises and equipment 10,396 (4,222 ) 6,174 Property held for sale 4,596 (2,219 ) 2,377 Goodwill 5,183 (5,183 ) — Core deposit intangibles — 10,916 10,916 Other assets 4,450 652 5,102 Total identifiable assets acquired 406,154 (483 ) 405,671 Identifiable liabilities assumed: Deposits 349,726 807 350,533 Other liabilities 11,216 58 11,274 Total identifiable liabilities assumed 360,942 865 361,807 Net identifiable assets acquired $ 45,212 $ (1,348 ) $ 43,864 Goodwill resulting from acquisition $ 4,252 |
Schedule of PCI Loan Portfolio | The PCI loan portfolio related to the FCB acquisition was recorded at estimated fair value on the date of acquisition, April 1, 2017, as follows: Dollars in thousands Acquired Loans -PCI Contractual principal and interest due $ 4,885 Nonaccretable difference (597 ) Expected cash flows 4,288 Accretable yield (661 ) Purchase credit impaired loans - estimated fair value $ 3,627 |
Pro Forma Information of the Combined Entities Summit FCB and HCB | The following table estimates the pro forma revenue, net income and diluted earnings per share of the combined entities of Summit, HCB and FCB as if the acquisitions had taken place on January 1, 2016. All acquisition related expenses were excluded from the pro forma information. We expect to achieve operational cost savings and other efficiencies as a result of the acquisitions which are not reflected in the pro forma amounts below. Summit, HCB & FCB Pro Forma For the Nine Months Ended September 30, Dollars in thousands, except per share amounts 2017 2016 Total revenues, net of interest expense $ 64,313 $ 61,457 Net income $ 11,176 $ 15,017 Diluted earnings per share $ 0.95 $ 1.23 |
Financial Effects of Purchase Accounting Adjustments [Table Text Block] | The following presents the financial effects of adjustments recognized in the statement of income for the three and nine months ended September 30, 2017 related to business combinations that occurred during 2016 or 2017. Income increase (decrease) Dollars in thousands Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Interest and fees on loans $ 224 $ 712 Interest expense on deposits 76 167 Amortization of intangibles (399 ) (825 ) Income before income tax expense $ (99 ) $ 54 |
Accumulated Other Comprehensi43
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following is changes in accumulated other comprehensive income (loss) by component, net of tax, for the three and nine months ending September 30, 2017 and 2016 . For the Three Months Ended Dollars in thousands Gains and Losses on Other Post-Retirement Benefits Gains and Losses on Cash Flow Hedges Unrealized Gains (Losses) on Available-for-Sale Securities Total Beginning balance $ 219 $ (2,238 ) $ 1,712 $ (307 ) Other comprehensive income before reclassification — 313 399 712 Amounts reclassified from accumulated other comprehensive income — — (16 ) (16 ) Net current period other comprehensive income — 313 383 696 Ending balance $ 219 $ (1,925 ) $ 2,095 $ 389 For the Three Months Ended Dollars in thousands Gains and Losses on Other Post-Retirement Benefits Gains and Losses on Cash Flow Hedges Unrealized Gains (Losses) on Available-for-Sale Securities Total Beginning balance $ — $ (5,135 ) $ 5,014 $ (121 ) Other comprehensive income before reclassification — 608 (867 ) (259 ) Amounts reclassified from accumulated other comprehensive income — — (38 ) (38 ) Net current period other comprehensive income (loss) — 608 (905 ) (297 ) Ending balance $ — $ (4,527 ) $ 4,109 $ (418 ) For the Nine Months Ended Dollars in thousands Gains and Losses on Other Post-Retirement Benefits Gains and Losses on Cash Flow Hedges Unrealized Gains (Losses) on Available-for-Sale Securities Total Beginning balance $ — $ (2,905 ) $ (357 ) $ (3,262 ) Other comprehensive income before reclassification 219 980 2,489 3,688 Amounts reclassified from accumulated other comprehensive income — — (37 ) (37 ) Net current period other comprehensive income 219 980 2,452 3,651 Ending balance $ 219 $ (1,925 ) $ 2,095 $ 389 For the Nine Months Ended Dollars in thousands Gains and Losses on Other Post-Retirement Benefits Gains and Losses on Cash Flow Hedges Unrealized Gains (Losses) on Available-for-Sale Securities Total Beginning balance $ — $ (3,195 ) $ 2,739 $ (456 ) Other comprehensive income (loss) before reclassification — (1,332 ) 1,897 565 Amounts reclassified from accumulated other comprehensive income — — (527 ) (527 ) Net current period other comprehensive income — (1,332 ) 1,370 38 Ending balance $ — $ (4,527 ) $ 4,109 $ (418 ) |
Income Taxes Income Taxes (Tabl
Income Taxes Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, 2017 2016 2017 2016 Dollars in thousands Percent Percent Percent Percent Applicable statutory rate 35.0 % 35.0 % 35.0 % 35.0 % Increase (decrease) in rate resulting from: Tax-exempt interest and dividends, net (5.1 )% (4.2 )% (8.8 )% (4.4 )% State income taxes (benefit), net of Federal income tax benefit 1.8 % 1.7 % 1.8 % 1.6 % Other, net (2.2 )% 0.3 % (2.2 )% (1.2 )% Effective income tax rate 29.5 % 32.8 % 25.8 % 31.0 % |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the Three Months Ended September 30, For the Nine Months Ended September 30, Dollars in thousands 2017 2016 2017 2016 Current Federal $ 2,436 $ 1,992 $ 3,315 $ 5,439 State 251 171 388 451 2,687 2,163 3,703 5,890 Deferred Federal (190 ) (76 ) (333 ) (234 ) State (17 ) (1 ) (31 ) (1 ) (207 ) (77 ) (364 ) (235 ) Total $ 2,480 $ 2,086 $ 3,339 $ 5,655 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets And Liabilities Recorded At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | $ 328,726 | $ 266,542 | [1] | $ 262,102 |
U.S. Government sponsored agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 24,135 | 15,174 | 15,692 | |
Government Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 121,759 | 138,846 | 135,205 | |
Nongovernment Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 2,755 | 4,653 | 5,401 | |
Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 16,190 | 18,170 | 19,903 | |
Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 137 | 137 | $ 77 | |
Fair Value, Measurements, Recurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 328,726 | 266,542 | ||
Fair Value, Measurements, Recurring [Member] | U.S. Government sponsored agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 24,135 | 15,174 | ||
Fair Value, Measurements, Recurring [Member] | Government Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 121,759 | 138,846 | ||
Fair Value, Measurements, Recurring [Member] | Nongovernment Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 2,755 | 4,653 | ||
Fair Value, Measurements, Recurring [Member] | U S States And Political Subdivisions General Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 13,435 | |||
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 16,190 | 18,170 | ||
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 137 | 137 | ||
Fair Value, Measurements, Recurring [Member] | Tax Exempt Debt Securities Us States And Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 150,315 | 89,562 | ||
Fair Value, Measurements, Recurring [Member] | Interest rate swap [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Fair Value, Asset | 125 | 200 | ||
Derivative Fair Value, Liability | 3,056 | 4,611 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | U.S. Government sponsored agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Government Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Nongovernment Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | U S States And Political Subdivisions General Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Tax Exempt Debt Securities Us States And Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 1 [Member] | Interest rate swap [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Fair Value, Asset | 0 | 0 | ||
Derivative Fair Value, Liability | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 328,726 | 266,542 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | U.S. Government sponsored agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 24,135 | 15,174 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Government Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 121,759 | 138,846 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Nongovernment Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 2,755 | 4,653 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | U S States And Political Subdivisions General Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 13,435 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 16,190 | 18,170 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 137 | 137 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Tax Exempt Debt Securities Us States And Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 150,315 | 89,562 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 2 [Member] | Interest rate swap [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Fair Value, Asset | 125 | 200 | ||
Derivative Fair Value, Liability | 3,056 | 4,611 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | U.S. Government sponsored agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Government Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Nongovernment Sponsored Agencies [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | U S States And Political Subdivisions General Obligations [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | |||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Corporate Debt Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Equity Securities [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Tax Exempt Debt Securities Us States And Political Subdivisions [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Securities available for sale | 0 | 0 | ||
Fair Value, Measurements, Recurring [Member] | Fair Value Inputs Level 3 [Member] | Interest rate swap [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Derivative Fair Value, Asset | 0 | 0 | ||
Derivative Fair Value, Liability | $ 0 | $ 0 | ||
[1] | Derived from audited consolidated financial statements |
Fair Value Measurements (Asse46
Fair Value Measurements (Assets And Liabilities Recorded At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Residential mortgage loans held for sale | $ 220 | $ 176 |
Collateral-dependent impaired loans | 1,666 | 1,075 |
Foreclosed properties | 18,455 | 20,582 |
Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 518 | |
Foreclosed properties | 1,476 | 976 |
Construction And Development Financial Receivable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 945 | 945 |
Foreclosed properties | 16,627 | 19,327 |
Residential Real Estate Financial Receivable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 203 | 130 |
Foreclosed properties | 352 | 279 |
Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Residential mortgage loans held for sale | 0 | 0 |
Collateral-dependent impaired loans | 0 | 0 |
Foreclosed properties | 0 | 0 |
Fair Value Inputs Level 1 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | |
Foreclosed properties | 0 | 0 |
Fair Value Inputs Level 1 [Member] | Construction And Development Financial Receivable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | 0 |
Foreclosed properties | 0 | 0 |
Fair Value Inputs Level 1 [Member] | Residential Real Estate Financial Receivable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | 0 |
Foreclosed properties | 0 | 0 |
Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Residential mortgage loans held for sale | 220 | 176 |
Collateral-dependent impaired loans | 1,666 | 1,075 |
Foreclosed properties | 18,271 | 20,582 |
Fair Value Inputs Level 2 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 518 | |
Foreclosed properties | 1,292 | 976 |
Fair Value Inputs Level 2 [Member] | Construction And Development Financial Receivable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 945 | 945 |
Foreclosed properties | 16,627 | 19,327 |
Fair Value Inputs Level 2 [Member] | Residential Real Estate Financial Receivable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 203 | 130 |
Foreclosed properties | 352 | 279 |
Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Residential mortgage loans held for sale | 0 | 0 |
Collateral-dependent impaired loans | 0 | 0 |
Foreclosed properties | 184 | 0 |
Fair Value Inputs Level 3 [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | |
Foreclosed properties | 184 | 0 |
Fair Value Inputs Level 3 [Member] | Construction And Development Financial Receivable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | 0 |
Foreclosed properties | 0 | 0 |
Fair Value Inputs Level 3 [Member] | Residential Real Estate Financial Receivable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral-dependent impaired loans | 0 | 0 |
Foreclosed properties | $ 0 | $ 0 |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Values And Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale, net | $ 220 | $ 176 |
Carrying Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 51,214 | 46,616 |
AvailableForSaleSecuritiesFairValueDisclosure1 | 328,726 | 266,542 |
Other investments | 12,170 | 12,942 |
Loans held for sale, net | 220 | 176 |
Loans, net | 1,559,328 | 1,307,862 |
Accrued interest receivable | 7,979 | 6,167 |
Derivative Asset | 125 | 200 |
Total assets | 1,959,762 | 1,640,505 |
Deposits | 1,616,768 | 1,295,519 |
Short-term borrowings | 202,988 | 224,461 |
Long-term borrowings | 45,755 | 46,670 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 |
Accrued interest payable | 912 | 736 |
Derivative financial liabilities | 3,056 | 4,611 |
Total liabilities | 1,889,068 | 1,591,586 |
Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 51,214 | 46,616 |
AvailableForSaleSecuritiesFairValueDisclosure1 | 328,726 | 266,542 |
Other investments | 12,170 | 12,942 |
Loans held for sale, net | 220 | 176 |
Loans, net | 1,557,227 | 1,321,235 |
Accrued interest receivable | 7,979 | 6,167 |
Derivative Asset | 125 | 200 |
Total assets | 1,957,661 | 1,653,878 |
Deposits | 1,637,258 | 1,309,820 |
Short-term borrowings | 202,988 | 224,461 |
Long-term borrowings | 46,962 | 49,013 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 |
Accrued interest payable | 912 | 736 |
Derivative financial liabilities | 3,056 | 4,611 |
Total liabilities | 1,910,765 | 1,608,230 |
Fair Value Inputs Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale, net | 0 | 0 |
Fair Value Inputs Level 1 [Member] | Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
AvailableForSaleSecuritiesFairValueDisclosure1 | 0 | 0 |
Other investments | 0 | 0 |
Loans held for sale, net | 0 | 0 |
Loans, net | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Derivative Asset | 0 | 0 |
Total assets | 0 | 0 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term borrowings | 0 | 0 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 0 | 0 |
Accrued interest payable | 0 | 0 |
Derivative financial liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Fair Value Inputs Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale, net | 220 | 176 |
Fair Value Inputs Level 2 [Member] | Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 51,214 | 46,616 |
AvailableForSaleSecuritiesFairValueDisclosure1 | 328,726 | 266,542 |
Other investments | 12,170 | 12,942 |
Loans held for sale, net | 220 | 176 |
Loans, net | 1,666 | 1,075 |
Accrued interest receivable | 7,979 | 6,167 |
Derivative Asset | 125 | 200 |
Total assets | 402,100 | 333,718 |
Deposits | 1,637,258 | 1,309,820 |
Short-term borrowings | 202,988 | 224,461 |
Long-term borrowings | 46,962 | 49,013 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 19,589 | 19,589 |
Accrued interest payable | 912 | 736 |
Derivative financial liabilities | 3,056 | 4,611 |
Total liabilities | 1,910,765 | 1,608,230 |
Fair Value Inputs Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans held for sale, net | 0 | 0 |
Fair Value Inputs Level 3 [Member] | Estimated Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 0 | 0 |
AvailableForSaleSecuritiesFairValueDisclosure1 | 0 | 0 |
Other investments | 0 | 0 |
Loans held for sale, net | 0 | 0 |
Loans, net | 1,555,561 | 1,320,160 |
Accrued interest receivable | 0 | 0 |
Derivative Asset | 0 | 0 |
Total assets | 1,555,561 | 1,320,160 |
Deposits | 0 | 0 |
Short-term borrowings | 0 | 0 |
Long-term borrowings | 0 | 0 |
Subordinated debentures owed to unconsolidated subsidiary trusts | 0 | 0 |
Accrued interest payable | 0 | 0 |
Derivative financial liabilities | 0 | 0 |
Total liabilities | $ 0 | $ 0 |
Earnings Per Share (Computation
Earnings Per Share (Computations Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Earnings Per Share [Line Items] | ||||
Anti-dilutive stock options | 33,600 | 23,400 | 57,000 | |
Net income | $ 5,930 | $ 4,281 | $ 9,592 | $ 12,586 |
Net income (loss) applicable to common shares | $ 5,930 | $ 4,281 | $ 9,592 | $ 12,586 |
Basic EPS, Common Shares (Denominator) (in shares) | 12,299,987 | 10,692,423 | 11,781,342 | 10,682,129 |
Basic EPS (in dollars per share) | $ 0.48 | $ 0.40 | $ 0.81 | $ 1.18 |
Diluted EPS, Stock options, Common Shares (Denominator) (in shares) | 10,911 | 12,865 | 11,336 | 8,774 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 8,061 | 21,851 | 14,324 | 1,443 |
Diluted EPS, Income (Numerator) | $ 5,930 | $ 4,281 | $ 9,592 | $ 12,586 |
Diluted EPS, Common Shares (Denominator) (in shares) | 12,318,959 | 10,727,139 | 11,807,002 | 10,692,346 |
Diluted EPS (in dollars per share) | $ 0.48 | $ 0.40 | $ 0.81 | $ 1.18 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - shares | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive stock options | 33,600 | 23,400 | 57,000 |
Stock Appreciation Rights (SARs) [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive stock options | 87,615 |
Securities (Summary Of Amortize
Securities (Summary Of Amortized Cost, Unrealized Gains, Unrealized Losses And Estimated Fair Values) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | $ 325,397 | $ 267,105 | $ 255,578 | |
Available for sale securities, Unrealized Gains | 5,101 | 3,005 | 7,206 | |
Available for sale securities, Unrealized Losses | 1,772 | 3,568 | 682 | |
Available for sale securities, Estimated Fair Value | 328,726 | 266,542 | [1] | 262,102 |
U S Government Corporations And Agencies Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 23,591 | 14,580 | 14,818 | |
Available for sale securities, Unrealized Gains | 608 | 642 | 921 | |
Available for sale securities, Unrealized Losses | 64 | 48 | 47 | |
Available for sale securities, Estimated Fair Value | 24,135 | 15,174 | 15,692 | |
Government Sponsored Agencies [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 120,898 | 138,451 | 132,913 | |
Available for sale securities, Unrealized Gains | 1,580 | 1,554 | 2,556 | |
Available for sale securities, Unrealized Losses | 719 | 1,159 | 264 | |
Available for sale securities, Estimated Fair Value | 121,759 | 138,846 | 135,205 | |
Nongovernment Sponsored Agencies [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 2,714 | 4,631 | 5,382 | |
Available for sale securities, Unrealized Gains | 49 | 44 | 48 | |
Available for sale securities, Unrealized Losses | 8 | 22 | 29 | |
Available for sale securities, Estimated Fair Value | 2,755 | 4,653 | 5,401 | |
State and Political Subdivisions General Obligations [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 2,803 | |||
Available for sale securities, Unrealized Gains | 11 | |||
Available for sale securities, Unrealized Losses | 1 | |||
Available for sale securities, Estimated Fair Value | 2,813 | |||
State and Policital Subdivisions Water and Sewer Revenues [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 250 | |||
Available for sale securities, Unrealized Gains | 0 | |||
Available for sale securities, Unrealized Losses | 0 | |||
Available for sale securities, Estimated Fair Value | 250 | |||
State and Policital Subdivisions Other Revenues [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 10,568 | |||
Available for sale securities, Unrealized Gains | 83 | |||
Available for sale securities, Unrealized Losses | 29 | |||
Available for sale securities, Estimated Fair Value | 10,622 | |||
Corporate Debt Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 16,326 | 18,295 | 20,003 | |
Available for sale securities, Unrealized Gains | 0 | 23 | 49 | |
Available for sale securities, Unrealized Losses | 136 | 148 | 149 | |
Available for sale securities, Estimated Fair Value | 16,190 | 18,170 | 19,903 | |
Taxable Debt Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 176,900 | 175,957 | 173,366 | |
Available for sale securities, Unrealized Gains | 2,331 | 2,263 | 3,574 | |
Available for sale securities, Unrealized Losses | 957 | 1,377 | 489 | |
Available for sale securities, Estimated Fair Value | 178,274 | 176,843 | 176,451 | |
Tax Exempt State and Political Subdivisions General Obligations [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 70,714 | 49,449 | 47,014 | |
Available for sale securities, Unrealized Gains | 1,382 | 569 | 2,221 | |
Available for sale securities, Unrealized Losses | 510 | 1,388 | 115 | |
Available for sale securities, Estimated Fair Value | 71,586 | 48,630 | 49,120 | |
Tax Exempt State and Political Subdivisions Water and Sewer Revenues [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 25,049 | 9,087 | 7,980 | |
Available for sale securities, Unrealized Gains | 433 | 63 | 265 | |
Available for sale securities, Unrealized Losses | 74 | 149 | 11 | |
Available for sale securities, Estimated Fair Value | 25,408 | 9,001 | 8,234 | |
Tax Exempt State and Political Subdivisions Lease Revenues [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 14,250 | 9,037 | 7,392 | |
Available for sale securities, Unrealized Gains | 283 | 7 | 321 | |
Available for sale securities, Unrealized Losses | 71 | 201 | 38 | |
Available for sale securities, Estimated Fair Value | 14,462 | 8,843 | 7,675 | |
Tax Exempt State and Political Subdivisions Electric Revenues [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 6,226 | 3,247 | ||
Available for sale securities, Unrealized Gains | 76 | 10 | ||
Available for sale securities, Unrealized Losses | 23 | 48 | ||
Available for sale securities, Estimated Fair Value | 6,279 | 3,209 | ||
Tax Exempt State and Political Subdivisions Sales Tax Revenues [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 2,870 | 2,880 | ||
Available for sale securities, Unrealized Gains | 0 | 124 | ||
Available for sale securities, Unrealized Losses | 34 | 0 | ||
Available for sale securities, Estimated Fair Value | 2,836 | 3,004 | ||
Tax Exempt State and Political Subdivisions University Revenues [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 5,290 | |||
Available for sale securities, Unrealized Gains | 3 | |||
Available for sale securities, Unrealized Losses | 22 | |||
Available for sale securities, Estimated Fair Value | 5,271 | |||
Tax Exempt State and Political Subdivisions Other Revenues [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 26,831 | 17,321 | 16,869 | |
Available for sale securities, Unrealized Gains | 593 | 93 | 701 | |
Available for sale securities, Unrealized Losses | 115 | 371 | 29 | |
Available for sale securities, Estimated Fair Value | 27,309 | 17,043 | 17,541 | |
Tax Exempt Debt Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 148,360 | 91,011 | 82,135 | |
Available for sale securities, Unrealized Gains | 2,770 | 742 | 3,632 | |
Available for sale securities, Unrealized Losses | 815 | 2,191 | 193 | |
Available for sale securities, Estimated Fair Value | 150,315 | 89,562 | 85,574 | |
Equity Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 137 | 137 | 77 | |
Available for sale securities, Unrealized Gains | 0 | 0 | 0 | |
Available for sale securities, Unrealized Losses | 0 | 0 | 0 | |
Available for sale securities, Estimated Fair Value | $ 137 | $ 137 | $ 77 | |
[1] | Derived from audited consolidated financial statements |
Securities (Summary of Volume o
Securities (Summary of Volume of State and Political Subdivision Securities Held in Portfolio) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | $ 325,397 | $ 267,105 | $ 255,578 | |
Available for sale securities, Unrealized Gains | 5,101 | 3,005 | 7,206 | |
Available for sale securities, Unrealized Losses | 1,772 | 3,568 | 682 | |
Available for sale securities, Estimated Fair Value | 328,726 | $ 266,542 | [1] | $ 262,102 |
Texas | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 20,215 | |||
Available for sale securities, Unrealized Gains | 440 | |||
Available for sale securities, Unrealized Losses | 71 | |||
Available for sale securities, Estimated Fair Value | 20,584 | |||
MICHIGAN | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 18,823 | |||
Available for sale securities, Unrealized Gains | 235 | |||
Available for sale securities, Unrealized Losses | 212 | |||
Available for sale securities, Estimated Fair Value | 18,846 | |||
CALIFORNIA | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 15,314 | |||
Available for sale securities, Unrealized Gains | 260 | |||
Available for sale securities, Unrealized Losses | 64 | |||
Available for sale securities, Estimated Fair Value | 15,510 | |||
Illinois | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 12,463 | |||
Available for sale securities, Unrealized Gains | 244 | |||
Available for sale securities, Unrealized Losses | 38 | |||
Available for sale securities, Estimated Fair Value | 12,669 | |||
PENNSYLVANIA | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Total Amortized Cost | 10,603 | |||
Available for sale securities, Unrealized Gains | 91 | |||
Available for sale securities, Unrealized Losses | 79 | |||
Available for sale securities, Estimated Fair Value | $ 10,615 | |||
[1] | Derived from audited consolidated financial statements |
Securities (Summary Of Maturiti
Securities (Summary Of Maturities, Amortized Cost And Estimated Fair Values Of Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Available-for-sale Securities [Abstract] | |||
Due in one year or less, Amortized Cost | $ 46,461 | ||
Due from one to five years, Amortized Cost | 82,524 | ||
Due from five to ten years, Amortized Cost | 33,110 | ||
Due after ten years, Amortized Cost | 163,165 | ||
Equity securities, Amortized Cost | 137 | ||
Total Amortized Cost | 325,397 | $ 267,105 | $ 255,578 |
Due in one year or less, Estimated Fair Value | 46,984 | ||
Due from one to five years, Estimated Fair Value | 83,284 | ||
Due from five to ten years, Estimated Fair Value | 33,119 | ||
Due after ten years, Estimated Fair Value | 165,202 | ||
Equity securities, Estimated Fair Value | 137 | ||
Total Estimated Fair Value | $ 328,726 |
Securities (Summary Of Proceeds
Securities (Summary Of Proceeds From Sales, Calls And Maturities, Principal Payments, Gains And Losses Of Securities) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Available-for-sale Securities [Abstract] | ||
Securities available for sale, Proceeds from Sales | $ 131,345 | $ 63,641 |
Securities available for sale, Proceeds from Calls and Maturities | 2,610 | 630 |
Securities available for sale, Proceeds from Principal Payments | 24,349 | 27,696 |
Securities available for sale, Gross realized Gains | 416 | 1,117 |
Securities available for sale, Gross realized Losses | $ 358 | $ 281 |
Securities (Narrative) (Details
Securities (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2017securitystate | |
Available-for-sale Securities [Abstract] | |
Number of states with highest volume of state and political subdivision securities | state | 5 |
Securities held with an unrealized loss position | security | 81 |
Securities (Summary Of Securiti
Securities (Summary Of Securities Available For Sale In Unrealized Loss Position) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | $ 74,570 | $ 115,357 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (737) | (3,212) |
12 months or more, Estimated Fair Value | 31,365 | 17,113 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,035) | (356) |
Total Estimated Fair Value | 105,935 | 132,470 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (1,772) | (3,568) |
Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 74,570 | 115,357 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (737) | (3,212) |
12 months or more, Estimated Fair Value | 31,365 | 17,113 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,035) | (356) |
Total Estimated Fair Value | 105,935 | 132,470 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (1,772) | (3,568) |
Temporarily Impaired Securities [Member] | U S Government Corporations And Agencies Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 5,374 | 763 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (25) | (5) |
12 months or more, Estimated Fair Value | 2,712 | 2,575 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (39) | (43) |
Total Estimated Fair Value | 8,086 | 3,338 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (64) | (48) |
Temporarily Impaired Securities [Member] | Government Sponsored Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 29,222 | 55,388 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (316) | (985) |
12 months or more, Estimated Fair Value | 13,476 | 8,389 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (403) | (174) |
Total Estimated Fair Value | 42,698 | 63,777 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (719) | (1,159) |
Temporarily Impaired Securities [Member] | Nongovernment Sponsored Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 0 | 97 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
12 months or more, Estimated Fair Value | 949 | 3,013 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (8) | (22) |
Total Estimated Fair Value | 949 | 3,110 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (8) | (22) |
Temporarily Impaired Securities [Member] | State and Political Subdivisions General Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 734 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1) | |
12 months or more, Estimated Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Total Estimated Fair Value | 734 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (1) | |
Temporarily Impaired Securities [Member] | State and Political Subdivisions Other Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 4,816 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (29) | |
12 months or more, Estimated Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Total Estimated Fair Value | 4,816 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (29) | |
Temporarily Impaired Securities [Member] | Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 3,014 | 968 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (39) | (31) |
12 months or more, Estimated Fair Value | 1,653 | 3,136 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (97) | (117) |
Total Estimated Fair Value | 4,667 | 4,104 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (136) | (148) |
Temporarily Impaired Securities [Member] | Tax Exempt State and Political Subdivisions General Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 14,204 | 33,115 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (164) | (1,388) |
12 months or more, Estimated Fair Value | 10,236 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (346) | 0 |
Total Estimated Fair Value | 24,440 | 33,115 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (510) | (1,388) |
Temporarily Impaired Securities [Member] | Tax Exempt State and Political Subdivisions Water and Sewer Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 6,702 | 4,761 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (74) | (149) |
12 months or more, Estimated Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Total Estimated Fair Value | 6,702 | 4,761 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (74) | (149) |
Temporarily Impaired Securities [Member] | Tax Exempt State and Political Subdivisions Lease Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 571 | 7,011 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2) | (201) |
12 months or more, Estimated Fair Value | 1,061 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (69) | 0 |
Total Estimated Fair Value | 1,632 | 7,011 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (71) | (201) |
Temporarily Impaired Securities [Member] | Tax Exempt State and Political Subdivisions Electric Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 2,146 | 1,973 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (23) | (48) |
12 months or more, Estimated Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Total Estimated Fair Value | 2,146 | 1,973 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (23) | (48) |
Temporarily Impaired Securities [Member] | Tax Exempt State and Political Subdivisions Sales Tax Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 2,836 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (34) | |
12 months or more, Estimated Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Total Estimated Fair Value | 2,836 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (34) | |
Temporarily Impaired Securities [Member] | Tax Exempt State and Political Subdivisions University Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 3,508 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (22) | |
12 months or more, Estimated Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Total Estimated Fair Value | 3,508 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | (22) | |
Temporarily Impaired Securities [Member] | Tax Exempt State and Political Subdivisions Other Revenues [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 months, Estimated Fair Value | 4,279 | 8,445 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (42) | (371) |
12 months or more, Estimated Fair Value | 1,278 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (73) | 0 |
Total Estimated Fair Value | 5,557 | 8,445 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ (115) | $ (371) |
Loans (Narrative) (Details)
Loans (Narrative) (Details) | 9 Months Ended | |
Sep. 30, 2017USD ($)contract | Dec. 31, 2016USD ($) | |
Financing Receivable, Impaired [Line Items] | ||
Risk rate loans, aggregate balance threshold | $ 2,500,000 | |
Risk rate loans, loan balance threshold | 500,000 | |
Troubled debt restructurings included in impaired loans | 29,100,000 | $ 28,600,000 |
Current Troubled debt restructurings included in impaired loans | $ 28,300,000 | $ 28,100,000 |
Number of days past due to be considered in default | 30 days | |
Non-Jumbo [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | contract | 4 | |
Land and Land Improvements [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | contract | 1 |
Loans (Summary of Loans, Net of
Loans (Summary of Loans, Net of Unearned Fees) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | $ 1,571,793 | $ 1,319,536 | $ 1,246,224 |
Less allowance for loan losses | 12,465 | 11,674 | 11,619 |
Loans, net | 1,559,328 | 1,307,862 | 1,234,605 |
Commercial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 187,193 | 119,088 | 110,466 |
Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 239,840 | 203,047 | 192,254 |
Non-Owner Occupied [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 464,543 | 381,921 | 367,196 |
Land and Land Improvements [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 71,412 | 72,042 | 65,430 |
Construction Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 28,756 | 16,584 | 11,276 |
Non-Jumbo [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 355,642 | 265,641 | 228,777 |
Jumbo [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 61,253 | 65,628 | 57,276 |
Home Equity [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 82,720 | 74,596 | 75,161 |
Mortgage Warehouse Lines [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 33,525 | 85,966 | 108,983 |
Consumer Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | 36,915 | 25,534 | 19,756 |
Other Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total loans, net of unearned fees | $ 9,994 | $ 9,489 | $ 9,649 |
Loans Loans (Schedule of Acquir
Loans Loans (Schedule of Acquired Loans) (Details) $ in Thousands | Sep. 30, 2017USD ($) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Total Outstanding Balance | $ 244,707 |
Acquired Loans Carrying Value | 241,858 |
Commercial Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 31,441 |
Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 23,779 |
Non-Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 37,550 |
Land and Land Improvements [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 9,080 |
Construction Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 2,226 |
Non-Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 116,617 |
Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 4,448 |
Home Equity [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 3,431 |
Consumer Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 13,050 |
Other Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Carrying Value | 236 |
Purchased Impaired Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | 6,393 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 5,418 |
Purchased Impaired Loans [Member] | Commercial Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 11 |
Purchased Impaired Loans [Member] | Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 695 |
Purchased Impaired Loans [Member] | Non-Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 1,846 |
Purchased Impaired Loans [Member] | Land and Land Improvements [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Purchased Impaired Loans [Member] | Construction Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Purchased Impaired Loans [Member] | Non-Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 1,861 |
Purchased Impaired Loans [Member] | Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 1,005 |
Purchased Impaired Loans [Member] | Home Equity [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Purchased Impaired Loans [Member] | Consumer Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Purchased Impaired Loans [Member] | Other Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Purchase Nonimpaired Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchase Performing Outstanding Balance | 238,314 |
Acquired Loans Purchased Performing Carrying Value | 236,440 |
Purchase Nonimpaired Loans [Member] | Commercial Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 31,430 |
Purchase Nonimpaired Loans [Member] | Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 23,084 |
Purchase Nonimpaired Loans [Member] | Non-Owner Occupied [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 35,704 |
Purchase Nonimpaired Loans [Member] | Land and Land Improvements [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 9,080 |
Purchase Nonimpaired Loans [Member] | Construction Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 2,226 |
Purchase Nonimpaired Loans [Member] | Non-Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 114,756 |
Purchase Nonimpaired Loans [Member] | Jumbo [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 3,443 |
Purchase Nonimpaired Loans [Member] | Home Equity [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 3,431 |
Purchase Nonimpaired Loans [Member] | Consumer Portfolio Segment [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | 13,050 |
Purchase Nonimpaired Loans [Member] | Other Loans [Member] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Acquired Loans Purchased Performing Carrying Value | $ 236 |
Loans Loans (Summary of Change
Loans Loans (Summary of Change in Accretable Yield PCI Loans) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
First Century Bankshares, Inc [Member] | ||
Summary of Change in Accretable Yield PCI Loans [Line Items] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Additions | $ 661 | |
Purchased Impaired Loans [Member] | ||
Summary of Change in Accretable Yield PCI Loans [Line Items] | ||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield | 803 | $ 290 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion | (135) | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference | 0 | |
Certain Loans Acquired in Transfer Not Accounting for as Debt Securities Accretable Yield Other Changes, Net | $ (13) |
Loans (Schedule of Contractual
Loans (Schedule of Contractual Aging of Recorded Investment in Past Due Loans by Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | $ 22,042 | $ 16,126 | $ 13,118 |
Current | 1,549,751 | 1,303,410 | 1,233,106 |
Recorded Investment greater then 90 days and Accruing | 35 | 0 | 21 |
Commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 444 | 341 | 1,041 |
Current | 186,749 | 118,747 | 109,425 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,254 | 602 | 756 |
Current | 238,586 | 202,445 | 191,498 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 2,398 | 405 | 389 |
Current | 462,145 | 381,516 | 366,807 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Land and Land Improvements [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 4,169 | 4,404 | 3,969 |
Current | 67,243 | 67,638 | 61,461 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Construction Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Current | 28,756 | 16,584 | 11,276 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Non-Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 11,759 | 9,473 | 6,182 |
Current | 343,883 | 256,168 | 222,595 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Current | 61,253 | 65,628 | 57,276 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 997 | 359 | 454 |
Current | 81,723 | 74,237 | 74,707 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Current | 33,525 | 85,966 | 108,983 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 965 | 542 | 327 |
Current | 35,950 | 24,992 | 19,429 |
Recorded Investment greater then 90 days and Accruing | 35 | 0 | 21 |
Other Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 56 | 0 | 0 |
Current | 9,938 | 9,489 | 9,649 |
Recorded Investment greater then 90 days and Accruing | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 6,471 | 5,551 | 3,168 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 204 | 90 | 301 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 469 | 93 | 251 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 177 | 340 | 311 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Land and Land Improvements [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 268 | 423 | 238 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Non-Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 4,860 | 4,297 | 1,932 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 50 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 387 | 308 | 135 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Other Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 56 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 3,018 | 2,490 | 1,884 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 175 | 86 | 138 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 45 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 252 | 0 | 78 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Land and Land Improvements [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 21 | 129 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Non-Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 2,062 | 1,889 | 1,488 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 290 | 302 | 136 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 173 | 84 | 44 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Other Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 12,553 | 8,085 | 8,066 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 65 | 165 | 602 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 740 | 509 | 505 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 1,969 | 65 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Land and Land Improvements [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 3,880 | 3,852 | 3,731 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Non-Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 4,837 | 3,287 | 2,762 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 657 | 57 | 318 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 0 | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | 405 | 150 | 148 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due | $ 0 | $ 0 | $ 0 |
Loans (Schedule of Nonaccrual L
Loans (Schedule of Nonaccrual Loans Included in Net Balance of Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 16,037 | $ 14,574 | $ 14,395 |
Commercial [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 757 | 298 | 846 |
Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 740 | 509 | 505 |
Non-Owner Occupied [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,033 | 4,336 | 4,362 |
Land and Land Improvements [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,931 | 4,465 | 4,360 |
Construction Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 |
Non-Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 7,309 | 4,621 | 3,680 |
Jumbo [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 |
Home Equity [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 773 | 194 | 494 |
Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 | 0 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 494 | $ 151 | $ 148 |
Loans (Schedule of Loans Indivi
Loans (Schedule of Loans Individually Evaluated for Impairment) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | $ 38,399 | $ 39,031 | $ 37,647 |
Unpaid Principal Balance | 38,418 | 39,043 | 37,659 |
Related Allowance | 1,644 | 896 | 1,404 |
Average Impaired Balance | 35,194 | 38,752 | 37,895 |
Interest Income Recognized while impaired | 1,502 | 1,488 | 1,324 |
Commercial [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 254 | 791 | 285 |
Without a related allowance, Unpaid Principal Balance | 254 | 790 | 285 |
Without a related allowance, Average Impaired Balance | 264 | 400 | 247 |
Without a related allowance, Interest Income Recognized while impaired | 10 | 9 | 10 |
With a related allowance, Recorded Investment | 259 | 19 | 0 |
With a related allowance, Unpaid Principal Balance | 259 | 19 | 0 |
With a related allowance, Related Allowance | 259 | 19 | 0 |
With a related allowance, Average Impaired Balance | 266 | 6 | 0 |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | 0 |
Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 7,138 | 4,914 | 520 |
Without a related allowance, Unpaid Principal Balance | 7,141 | 4,914 | 520 |
Without a related allowance, Average Impaired Balance | 4,869 | 4,932 | 534 |
Without a related allowance, Interest Income Recognized while impaired | 185 | 188 | 31 |
With a related allowance, Recorded Investment | 2,448 | 2,499 | 6,864 |
With a related allowance, Unpaid Principal Balance | 2,448 | 2,499 | 6,864 |
With a related allowance, Related Allowance | 127 | 12 | 347 |
With a related allowance, Average Impaired Balance | 2,456 | 2,491 | 6,879 |
With a related allowance, Interest Income Recognized while impaired | 121 | 112 | 269 |
Non-Owner Occupied [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 9,884 | 10,394 | 10,203 |
Without a related allowance, Unpaid Principal Balance | 9,886 | 10,396 | 10,205 |
Without a related allowance, Average Impaired Balance | 10,142 | 10,831 | 10,675 |
Without a related allowance, Interest Income Recognized while impaired | 511 | 456 | 294 |
With a related allowance, Recorded Investment | 1,014 | 1,321 | 1,311 |
With a related allowance, Unpaid Principal Balance | 1,018 | 1,321 | 1,311 |
With a related allowance, Related Allowance | 501 | 132 | 197 |
With a related allowance, Average Impaired Balance | 2 | 1,332 | 1,327 |
With a related allowance, Interest Income Recognized while impaired | 0 | 43 | 43 |
Land and Land Improvements [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 5,029 | 6,181 | 5,227 |
Without a related allowance, Unpaid Principal Balance | 5,029 | 6,181 | 5,227 |
Without a related allowance, Average Impaired Balance | 4,729 | 6,207 | 5,270 |
Without a related allowance, Interest Income Recognized while impaired | 87 | 104 | 80 |
With a related allowance, Recorded Investment | 1,470 | 1,140 | 2,066 |
With a related allowance, Unpaid Principal Balance | 1,470 | 1,141 | 2,066 |
With a related allowance, Related Allowance | 525 | 492 | 585 |
With a related allowance, Average Impaired Balance | 1,482 | 1,155 | 2,074 |
With a related allowance, Interest Income Recognized while impaired | 56 | 58 | 80 |
Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 0 | 0 | 0 |
Without a related allowance, Unpaid Principal Balance | 0 | 0 | 0 |
Without a related allowance, Average Impaired Balance | 0 | 0 | 0 |
Without a related allowance, Interest Income Recognized while impaired | 0 | 0 | 0 |
With a related allowance, Recorded Investment | 0 | 0 | 0 |
With a related allowance, Unpaid Principal Balance | 0 | 0 | 0 |
With a related allowance, Related Allowance | 0 | 0 | 0 |
With a related allowance, Average Impaired Balance | 0 | 0 | 0 |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | 0 |
Non-Jumbo [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 4,200 | 3,852 | 4,055 |
Without a related allowance, Unpaid Principal Balance | 4,210 | 3,861 | 4,065 |
Without a related allowance, Average Impaired Balance | 4,294 | 3,732 | 3,910 |
Without a related allowance, Interest Income Recognized while impaired | 209 | 170 | 193 |
With a related allowance, Recorded Investment | 1,728 | 2,617 | 2,055 |
With a related allowance, Unpaid Principal Balance | 1,729 | 2,619 | 2,057 |
With a related allowance, Related Allowance | 217 | 216 | 251 |
With a related allowance, Average Impaired Balance | 1,681 | 2,329 | 1,851 |
With a related allowance, Interest Income Recognized while impaired | 82 | 103 | 78 |
Jumbo [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 3,581 | 3,683 | 3,640 |
Without a related allowance, Unpaid Principal Balance | 3,580 | 3,682 | 3,639 |
Without a related allowance, Average Impaired Balance | 3,605 | 3,711 | 3,693 |
Without a related allowance, Interest Income Recognized while impaired | 171 | 176 | 175 |
With a related allowance, Recorded Investment | 841 | 859 | 853 |
With a related allowance, Unpaid Principal Balance | 842 | 859 | 853 |
With a related allowance, Related Allowance | 15 | 25 | 24 |
With a related allowance, Average Impaired Balance | 847 | 864 | 862 |
With a related allowance, Interest Income Recognized while impaired | 42 | 43 | 44 |
Home Equity [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 524 | 713 | 524 |
Without a related allowance, Unpaid Principal Balance | 523 | 713 | 523 |
Without a related allowance, Average Impaired Balance | 523 | 710 | 523 |
Without a related allowance, Interest Income Recognized while impaired | 25 | 21 | 22 |
With a related allowance, Recorded Investment | 0 | 0 | 0 |
With a related allowance, Unpaid Principal Balance | 0 | 0 | 0 |
With a related allowance, Related Allowance | 0 | 0 | 0 |
With a related allowance, Average Impaired Balance | 0 | 0 | 0 |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | 0 |
Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 0 | 0 | 0 |
Without a related allowance, Unpaid Principal Balance | 0 | 0 | 0 |
Without a related allowance, Average Impaired Balance | 0 | 0 | 0 |
Without a related allowance, Interest Income Recognized while impaired | 0 | 0 | 0 |
With a related allowance, Recorded Investment | 0 | 0 | 0 |
With a related allowance, Unpaid Principal Balance | 0 | 0 | 0 |
With a related allowance, Related Allowance | 0 | 0 | 0 |
With a related allowance, Average Impaired Balance | 0 | 0 | 0 |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | 0 |
Consumer Portfolio Segment [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 29 | 48 | 44 |
Without a related allowance, Unpaid Principal Balance | 29 | 48 | 44 |
Without a related allowance, Average Impaired Balance | 34 | 52 | 50 |
Without a related allowance, Interest Income Recognized while impaired | 3 | 5 | 5 |
With a related allowance, Recorded Investment | 0 | 0 | 0 |
With a related allowance, Unpaid Principal Balance | 0 | 0 | 0 |
With a related allowance, Related Allowance | 0 | 0 | 0 |
With a related allowance, Average Impaired Balance | 0 | 0 | 0 |
With a related allowance, Interest Income Recognized while impaired | 0 | 0 | 0 |
Total Without a Related Allowance | |||
Financing Receivable, Impaired [Line Items] | |||
Without a related allowance, Recorded Investment | 30,639 | 30,576 | 24,498 |
Without a related allowance, Unpaid Principal Balance | 30,652 | 30,585 | 24,508 |
Without a related allowance, Average Impaired Balance | 28,460 | 30,575 | 24,902 |
Without a related allowance, Interest Income Recognized while impaired | 1,201 | 1,129 | 810 |
Total With a Related Allowance | |||
Financing Receivable, Impaired [Line Items] | |||
With a related allowance, Recorded Investment | 7,760 | 8,455 | 13,149 |
With a related allowance, Unpaid Principal Balance | 7,766 | 8,458 | 13,151 |
With a related allowance, Related Allowance | 1,644 | 896 | 1,404 |
With a related allowance, Average Impaired Balance | 6,734 | 8,177 | 12,993 |
With a related allowance, Interest Income Recognized while impaired | 301 | 359 | 514 |
Total Commercial | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 27,496 | 27,259 | 26,476 |
Unpaid Principal Balance | 27,505 | 27,261 | 26,478 |
Related Allowance | 1,412 | 655 | 1,129 |
Average Impaired Balance | 24,210 | 27,354 | 27,006 |
Interest Income Recognized while impaired | 970 | 970 | 807 |
Total Residential Real Estate | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 10,874 | 11,724 | 11,127 |
Unpaid Principal Balance | 10,884 | 11,734 | 11,137 |
Related Allowance | 232 | 241 | 275 |
Average Impaired Balance | 10,950 | 11,346 | 10,839 |
Interest Income Recognized while impaired | 529 | 513 | 512 |
Total Consumer | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 29 | 48 | 44 |
Unpaid Principal Balance | 29 | 48 | 44 |
Related Allowance | 0 | 0 | 0 |
Average Impaired Balance | 34 | 52 | 50 |
Interest Income Recognized while impaired | $ 3 | $ 5 | $ 5 |
Loans Loans (Schedule of Restru
Loans Loans (Schedule of Restructured Trouble Debt Restructuring By Class) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017USD ($)contract | Sep. 30, 2016USD ($)contract | Sep. 30, 2017USD ($)contract | Sep. 30, 2016USD ($)contract | |
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | contract | 3 | 1 | 8 | 5 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 2,888 | $ 307 | $ 3,974 | $ 704 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,888 | $ 307 | $ 3,974 | $ 704 |
Owner Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | contract | 1 | 0 | 1 | 0 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 2,302 | $ 0 | $ 2,302 | $ 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 2,302 | $ 0 | $ 2,302 | $ 0 |
Non-Owner Occupied [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | contract | 1 | 0 | 1 | 0 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 148 | $ 0 | $ 148 | $ 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 148 | $ 0 | $ 148 | $ 0 |
Land and Land Improvements [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | contract | 1 | 0 | 1 | 0 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 438 | $ 0 | $ 438 | $ 0 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 438 | $ 0 | $ 438 | $ 0 |
Non-Jumbo [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | 5 | 4 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 0 | $ 307 | $ 1,086 | $ 702 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 307 | $ 1,086 | $ 702 |
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | contract | 0 | 1 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 0 | $ 2 | ||
Financing Receivable, Modifications, Post-Modification Recorded Investment | $ 0 | $ 2 |
Loans (Schedule of the Activity
Loans (Schedule of the Activity Regarding TDRs by Loan Type) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | $ 26,850 | $ 28,622 |
Additions | 2,888 | 3,974 |
Charge-offs | 0 | (65) |
Net (paydowns) advances | (762) | (3,555) |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 28,976 | 28,976 |
Allowance related to troubled debt restructurings | 1,079 | 1,079 |
Land and Land Improvements [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 2,639 | 3,337 |
Additions | 438 | 438 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | (15) | (713) |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 3,062 | 3,062 |
Allowance related to troubled debt restructurings | 461 | 461 |
Construction [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 0 | 0 |
Additions | 0 | 0 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | 0 | 0 |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 0 | 0 |
Allowance related to troubled debt restructurings | 0 | 0 |
Commercial [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 438 | 711 |
Additions | 0 | 0 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | (12) | (285) |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 426 | 426 |
Allowance related to troubled debt restructurings | 259 | 259 |
Owner Occupied [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 7,315 | 7,383 |
Additions | 2,302 | 2,302 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | (31) | (99) |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 9,586 | 9,586 |
Allowance related to troubled debt restructurings | 127 | 127 |
Non-Owner Occupied [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 5,245 | 6,714 |
Additions | 148 | 148 |
Charge-offs | 0 | (65) |
Net (paydowns) advances | (45) | (1,449) |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 5,348 | 5,348 |
Allowance related to troubled debt restructurings | 0 | 0 |
Non-Jumbo [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 6,200 | 5,417 |
Additions | 0 | 1,086 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | (621) | (924) |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 5,579 | 5,579 |
Allowance related to troubled debt restructurings | 217 | 217 |
Jumbo [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 4,456 | 4,493 |
Additions | 0 | 0 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | (33) | (70) |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 4,423 | 4,423 |
Allowance related to troubled debt restructurings | 15 | 15 |
Home Equity Line of Credit [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 523 | 523 |
Additions | 0 | 0 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | 0 | 0 |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 523 | 523 |
Allowance related to troubled debt restructurings | 0 | 0 |
Mortgage Warehouse Lines [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 0 | 0 |
Additions | 0 | 0 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | 0 | 0 |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 0 | 0 |
Allowance related to troubled debt restructurings | 0 | 0 |
Consumer Portfolio Segment [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 34 | 44 |
Additions | 0 | 0 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | (5) | (15) |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 29 | 29 |
Allowance related to troubled debt restructurings | 0 | 0 |
Other Loans [Member] | ||
Troubled Debt Restructurings [Roll Forward] | ||
Troubled debt restructurings, beginning balance | 0 | 0 |
Additions | 0 | 0 |
Charge-offs | 0 | 0 |
Net (paydowns) advances | 0 | 0 |
Transfer into foreclosed properties | 0 | 0 |
Refinance out of TDR status | 0 | 0 |
Troubled debt restructurings, ending balance | 0 | 0 |
Allowance related to troubled debt restructurings | $ 0 | $ 0 |
Loans (Schedule of Recorded Inv
Loans (Schedule of Recorded Investment Evaluated Based on Internal Risk Ratings) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 1,571,793 | |
Land and Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 71,412 | $ 72,042 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 28,756 | 16,584 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 187,193 | 119,088 |
Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 239,840 | 203,047 |
Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 464,543 | 381,921 |
Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 33,525 | 85,966 |
Pass [Member] | Land and Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 64,744 | 64,144 |
Pass [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 28,756 | 16,584 |
Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 183,966 | 117,214 |
Pass [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 232,329 | 201,113 |
Pass [Member] | Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 454,433 | 375,181 |
Pass [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 33,525 | 85,966 |
OLEM (Special Mention) [Member] | Land and Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,593 | 2,097 |
OLEM (Special Mention) [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
OLEM (Special Mention) [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,468 | 1,471 |
OLEM (Special Mention) [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,578 | 567 |
OLEM (Special Mention) [Member] | Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,722 | 1,381 |
OLEM (Special Mention) [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Substandard [Member] | Land and Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,075 | 5,801 |
Substandard [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 759 | 403 |
Substandard [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,933 | 1,367 |
Substandard [Member] | Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 8,388 | 5,359 |
Substandard [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Land and Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Doubtful [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Land and Land Improvements [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 0 | 0 |
Loss [Member] | Mortgage Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 0 | $ 0 |
Loans (Schedule of Recorded I66
Loans (Schedule of Recorded Investment Evaluated Based on Aging Status of Loans and Payment Activity) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Performing Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 537,876 | $ 435,907 | $ 386,263 |
Performing Financing Receivable [Member] | Non-Jumbo [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 348,333 | 261,020 | 225,097 |
Performing Financing Receivable [Member] | Jumbo [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 61,253 | 65,628 | 57,276 |
Performing Financing Receivable [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 81,947 | 74,402 | 74,667 |
Performing Financing Receivable [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 36,349 | 25,368 | 19,574 |
Performing Financing Receivable [Member] | Other Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 9,994 | 9,489 | 9,649 |
Nonperforming Financing Receivable [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 8,648 | 4,981 | 4,356 |
Nonperforming Financing Receivable [Member] | Non-Jumbo [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 7,309 | 4,621 | 3,680 |
Nonperforming Financing Receivable [Member] | Jumbo [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 0 | 0 | 0 |
Nonperforming Financing Receivable [Member] | Home Equity [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 773 | 194 | 494 |
Nonperforming Financing Receivable [Member] | Consumer [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | 566 | 166 | 182 |
Nonperforming Financing Receivable [Member] | Other Loans [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Total | $ 0 | $ 0 | $ 0 |
Allowance For Loan Losses (Summ
Allowance For Loan Losses (Summary Of Analysis Of Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | $ 11,674 | $ 11,472 | $ 11,472 |
Total, Losses | 738 | 1,155 | 1,555 |
Total Recoveries | 654 | 802 | 1,257 |
Net losses | 84 | 353 | 298 |
Provision for loan losses | 875 | 500 | 500 |
Ending balance | 12,465 | 11,619 | 11,674 |
Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 934 | ||
Total, Losses | 23 | 379 | 489 |
Total Recoveries | 13 | 69 | 73 |
Provision for loan losses | 293 | ||
Ending balance | 1,217 | 934 | |
Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 2,109 | ||
Total, Losses | 3 | 179 | 179 |
Total Recoveries | 82 | 25 | 31 |
Provision for loan losses | 121 | ||
Ending balance | 2,309 | 2,109 | |
Non-Owner Occupied [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 3,438 | ||
Total, Losses | 65 | 122 | 124 |
Total Recoveries | 92 | 13 | 17 |
Provision for loan losses | 1,709 | ||
Ending balance | 5,174 | 3,438 | |
Land and Land Development [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 2,263 | ||
Total, Losses | 3 | 50 | 127 |
Total Recoveries | 246 | 514 | 840 |
Provision for loan losses | (1,858) | ||
Ending balance | 648 | 2,263 | |
Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 24 | ||
Total, Losses | 21 | 0 | 9 |
Total Recoveries | 0 | 0 | 0 |
Provision for loan losses | 13 | ||
Ending balance | 16 | 24 | |
Non-Jumbo [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 2,174 | ||
Total, Losses | 200 | 119 | 169 |
Total Recoveries | 50 | 58 | 136 |
Provision for loan losses | 24 | ||
Ending balance | 2,048 | 2,174 | |
Jumbo [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 95 | ||
Total, Losses | 2 | 0 | 0 |
Total Recoveries | 0 | 6 | 6 |
Provision for loan losses | (15) | ||
Ending balance | 78 | 95 | |
Home Equity [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 413 | ||
Total, Losses | 95 | 117 | 175 |
Total Recoveries | 29 | 3 | 3 |
Provision for loan losses | 261 | ||
Ending balance | 608 | 413 | |
Mortgage Warehouse Lines [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 0 | ||
Total, Losses | 0 | 0 | 0 |
Total Recoveries | 0 | 0 | 0 |
Provision for loan losses | 0 | ||
Ending balance | 0 | 0 | |
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 121 | ||
Total, Losses | 147 | 61 | 98 |
Total Recoveries | 64 | 55 | 76 |
Provision for loan losses | 177 | ||
Ending balance | 215 | 121 | |
Other | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance | 103 | ||
Total, Losses | 179 | 128 | 185 |
Total Recoveries | 78 | $ 59 | 75 |
Provision for loan losses | 150 | ||
Ending balance | $ 152 | $ 103 |
Allowance For Loan Losses (Su68
Allowance For Loan Losses (Summary Of Net Unearned Income) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | Sep. 30, 2017 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | $ 11,674 | $ 11,472 | $ 11,472 | |
Charge-offs | (738) | (1,155) | (1,555) | |
Recoveries | 654 | 802 | 1,257 | |
Provision | 875 | 500 | 500 | |
Ending balance | 12,465 | 11,619 | 11,674 | |
Allowance related to: Loans individually evaluated for impairment | $ 1,644 | |||
Allowance related to: Loans collectively evaluated for impairment | 10,812 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 9 | |||
Total, Allowance | 11,674 | 11,472 | 11,472 | 12,465 |
Loans individually evaluated for impairment | 38,399 | |||
Loans collectively evaluated for impairment | 1,527,976 | |||
Loans Acquired with Deteriorated Credit Quality | 5,418 | |||
Total, Loans | 1,571,793 | |||
Land and Land Development [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 2,263 | |||
Charge-offs | (3) | (50) | (127) | |
Recoveries | 246 | 514 | 840 | |
Provision | (1,858) | |||
Ending balance | 648 | 2,263 | ||
Allowance related to: Loans individually evaluated for impairment | 525 | |||
Allowance related to: Loans collectively evaluated for impairment | 123 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | |||
Total, Allowance | 2,263 | 2,263 | 648 | |
Loans individually evaluated for impairment | 6,499 | |||
Loans collectively evaluated for impairment | 64,913 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | |||
Total, Loans | 71,412 | |||
Construction [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 24 | |||
Charge-offs | (21) | 0 | (9) | |
Recoveries | 0 | 0 | 0 | |
Provision | 13 | |||
Ending balance | 16 | 24 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 16 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | |||
Total, Allowance | 24 | 24 | 16 | |
Loans individually evaluated for impairment | 0 | |||
Loans collectively evaluated for impairment | 28,756 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | |||
Total, Loans | 28,756 | |||
Commercial [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 934 | |||
Charge-offs | (23) | (379) | (489) | |
Recoveries | 13 | 69 | 73 | |
Provision | 293 | |||
Ending balance | 1,217 | 934 | ||
Allowance related to: Loans individually evaluated for impairment | 259 | |||
Allowance related to: Loans collectively evaluated for impairment | 958 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | |||
Total, Allowance | 934 | 934 | 1,217 | |
Loans individually evaluated for impairment | 513 | |||
Loans collectively evaluated for impairment | 186,669 | |||
Loans Acquired with Deteriorated Credit Quality | 11 | |||
Total, Loans | 187,193 | |||
Owner Occupied [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 2,109 | |||
Charge-offs | (3) | (179) | (179) | |
Recoveries | 82 | 25 | 31 | |
Provision | 121 | |||
Ending balance | 2,309 | 2,109 | ||
Allowance related to: Loans individually evaluated for impairment | 127 | |||
Allowance related to: Loans collectively evaluated for impairment | 2,178 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 4 | |||
Total, Allowance | 2,109 | 2,109 | 2,309 | |
Loans individually evaluated for impairment | 9,586 | |||
Loans collectively evaluated for impairment | 229,559 | |||
Loans Acquired with Deteriorated Credit Quality | 695 | |||
Total, Loans | 239,840 | |||
Non-Owner Occupied [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 3,438 | |||
Charge-offs | (65) | (122) | (124) | |
Recoveries | 92 | 13 | 17 | |
Provision | 1,709 | |||
Ending balance | 5,174 | 3,438 | ||
Allowance related to: Loans individually evaluated for impairment | 501 | |||
Allowance related to: Loans collectively evaluated for impairment | 4,670 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 3 | |||
Total, Allowance | 3,438 | 3,438 | 5,174 | |
Loans individually evaluated for impairment | 10,898 | |||
Loans collectively evaluated for impairment | 451,799 | |||
Loans Acquired with Deteriorated Credit Quality | 1,846 | |||
Total, Loans | 464,543 | |||
Non-Jumbo [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 2,174 | |||
Charge-offs | (200) | (119) | (169) | |
Recoveries | 50 | 58 | 136 | |
Provision | 24 | |||
Ending balance | 2,048 | 2,174 | ||
Allowance related to: Loans individually evaluated for impairment | 217 | |||
Allowance related to: Loans collectively evaluated for impairment | 1,829 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 2 | |||
Total, Allowance | 2,174 | 2,174 | 2,048 | |
Loans individually evaluated for impairment | 5,928 | |||
Loans collectively evaluated for impairment | 347,853 | |||
Loans Acquired with Deteriorated Credit Quality | 1,861 | |||
Total, Loans | 355,642 | |||
Jumbo [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 95 | |||
Charge-offs | (2) | 0 | 0 | |
Recoveries | 0 | 6 | 6 | |
Provision | (15) | |||
Ending balance | 78 | 95 | ||
Allowance related to: Loans individually evaluated for impairment | 15 | |||
Allowance related to: Loans collectively evaluated for impairment | 63 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | |||
Total, Allowance | 95 | 95 | 78 | |
Loans individually evaluated for impairment | 4,422 | |||
Loans collectively evaluated for impairment | 55,826 | |||
Loans Acquired with Deteriorated Credit Quality | 1,005 | |||
Total, Loans | 61,253 | |||
Home Equity [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 413 | |||
Charge-offs | (95) | (117) | (175) | |
Recoveries | 29 | 3 | 3 | |
Provision | 261 | |||
Ending balance | 608 | 413 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 608 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | |||
Total, Allowance | 413 | 413 | 608 | |
Loans individually evaluated for impairment | 524 | |||
Loans collectively evaluated for impairment | 82,196 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | |||
Total, Loans | 82,720 | |||
Mortgage Warehouse Lines [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 0 | |||
Charge-offs | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | |
Provision | 0 | |||
Ending balance | 0 | 0 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 0 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | |||
Total, Allowance | 0 | 0 | 0 | |
Loans individually evaluated for impairment | 0 | |||
Loans collectively evaluated for impairment | 33,525 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | |||
Total, Loans | 33,525 | |||
Consumer [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 121 | |||
Charge-offs | (147) | (61) | (98) | |
Recoveries | 64 | 55 | 76 | |
Provision | 177 | |||
Ending balance | 215 | 121 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 215 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | |||
Total, Allowance | 121 | 121 | 215 | |
Loans individually evaluated for impairment | 29 | |||
Loans collectively evaluated for impairment | 36,886 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | |||
Total, Loans | 36,915 | |||
Other | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Beginning balance | 103 | |||
Charge-offs | (179) | (128) | (185) | |
Recoveries | 78 | $ 59 | 75 | |
Provision | 150 | |||
Ending balance | 152 | 103 | ||
Allowance related to: Loans individually evaluated for impairment | 0 | |||
Allowance related to: Loans collectively evaluated for impairment | 152 | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses | 0 | |||
Total, Allowance | $ 103 | $ 103 | 152 | |
Loans individually evaluated for impairment | 0 | |||
Loans collectively evaluated for impairment | 9,994 | |||
Loans Acquired with Deteriorated Credit Quality | 0 | |||
Total, Loans | $ 9,994 |
Goodwill And Other Intangible69
Goodwill And Other Intangible Assets (Summary Of Goodwill Activity) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | $ 10,990 |
Goodwill, Purchase Accounting Adjustments | 31 |
Goodwill, Acquired During Period | 4,252 |
Goodwill, ending balance | 15,273 |
Community Banking [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 6,280 |
Goodwill, Purchase Accounting Adjustments | 31 |
Goodwill, Acquired During Period | 4,252 |
Goodwill, ending balance | 10,563 |
Insurance Services [Member] | |
Goodwill [Roll Forward] | |
Goodwill, beginning balance | 4,710 |
Goodwill, Purchase Accounting Adjustments | 0 |
Goodwill, Acquired During Period | 0 |
Goodwill, ending balance | $ 4,710 |
Goodwill And Other Intangible70
Goodwill And Other Intangible Assets (Summary Of Other Intangible Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Goodwill [Line Items] | ||
Identifiable intangible assets, Gross carrying amount | $ 15,528 | $ 4,610 |
Identifiable intangible assets, Less: accumulated amortization | 2,922 | 1,947 |
Identifiable intangible assets, Net carrying amount | 12,606 | 2,663 |
Community Banking [Member] | ||
Goodwill [Line Items] | ||
Identifiable intangible assets, Gross carrying amount | 12,528 | 1,610 |
Identifiable intangible assets, Less: accumulated amortization | 872 | 47 |
Identifiable intangible assets, Net carrying amount | 11,656 | 1,563 |
Insurance Services [Member] | ||
Goodwill [Line Items] | ||
Identifiable intangible assets, Gross carrying amount | 3,000 | 3,000 |
Identifiable intangible assets, Less: accumulated amortization | 2,050 | 1,900 |
Identifiable intangible assets, Net carrying amount | $ 950 | $ 1,100 |
Goodwill And Other Intangible71
Goodwill And Other Intangible Assets (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Recorded amortization expense | $ 974,000 |
Goodwill And Other Intangible72
Goodwill And Other Intangible Assets Schedule of Amortization Expense (Details) $ in Thousands | Sep. 30, 2017USD ($) |
Core Deposits [Member] | |
Schedule of Amortization of Intangibles [Line Items] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 1,210 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 1,471 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 1,368 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 1,265 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 1,162 |
Customer-Related Intangible Assets [Member] | |
Schedule of Amortization of Intangibles [Line Items] | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 200 |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 200 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 200 |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 200 |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | $ 200 |
Deposits (Summary Of Interest B
Deposits (Summary Of Interest Bearing Deposits By Type) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | |
Deposits [Abstract] | ||||
Demand deposits, interest bearing | $ 397,843 | $ 262,591 | $ 212,172 | |
Savings deposits | 362,653 | 337,348 | 321,563 | |
Time deposits | 640,362 | 545,843 | 500,397 | |
Total | $ 1,400,858 | $ 1,145,782 | [1] | $ 1,034,132 |
[1] | Derived from audited consolidated financial statements |
Deposits (Summary Of Scheduled
Deposits (Summary Of Scheduled Maturities For All Time Deposits) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Deposits [Abstract] | |||
Three month period ending December 31, 2017 | $ 81,870 | ||
Year ending December 31, 2018 | 232,020 | ||
Year ending December 31, 2019 | 140,028 | ||
Year ending December 31, 2020 | 88,444 | ||
Year ending December 31, 2021 | 54,858 | ||
Thereafter | 43,142 | ||
Total | $ 640,362 | $ 545,843 | $ 500,397 |
Deposits (Summary Of Maturity D
Deposits (Summary Of Maturity Distribution Of All Certificates Of Deposit) (Details) $ in Thousands | Sep. 30, 2017USD ($) |
Deposits [Abstract] | |
Three months or less | $ 52,185 |
Three through six months | 54,568 |
Six through twelve months | 66,426 |
Over twelve months | 265,855 |
Total | $ 439,034 |
Three months or less, percentage | 11.90% |
Three through six months, percentage | 12.40% |
Six through twelve months, percentage | 15.10% |
Over twelve months, percentage | 60.60% |
Total, percentage | 100.00% |
Deposits (Narrative) (Details)
Deposits (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Deposits [Abstract] | |||
Time deposits acquired through a third party (brokered deposits) | $ 219,790 | $ 205,710 | $ 178,898 |
Borrowed Funds (Summary Of Shor
Borrowed Funds (Summary Of Short-Term Borrowings) (Details) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | [1] | |
Debt Instrument [Line Items] | ||||
Beginning Balance | $ 202,988 | $ 234,657 | $ 224,461 | |
Short-term FHLB Advances [Member] | ||||
Debt Instrument [Line Items] | ||||
Beginning Balance | 199,500 | 231,200 | ||
Average balance outstanding for the period | 196,728 | 177,239 | ||
Maximum balance outstanding at any month end during period | $ 229,300 | $ 231,200 | ||
Weighted average interest rate for the period | 1.10% | 0.59% | ||
Weighted average interest rate for balances outstanding | 1.32% | 0.54% | ||
Federal Funds Purchased and Lines of Credit [Member] | ||||
Debt Instrument [Line Items] | ||||
Beginning Balance | $ 3,488 | $ 3,457 | ||
Average balance outstanding for the period | 3,474 | 3,455 | ||
Maximum balance outstanding at any month end during period | $ 3,488 | $ 3,457 | ||
Weighted average interest rate for the period | 1.03% | 0.50% | ||
Weighted average interest rate for balances outstanding | 1.25% | 0.50% | ||
[1] | Derived from audited consolidated financial statements |
Borrowed Funds (Long-term Borro
Borrowed Funds (Long-term Borrowings) (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Debt Disclosure [Abstract] | |||
Long-term borrowings | $ 46,670 | $ 45,755 | $ 74,146 |
Basis spread on variable rate | 0.50% | ||
Average interest rate paid on long-term borrowings | 4.32% | 4.43% |
Borrowed Funds (Summary of Long
Borrowed Funds (Summary of Long-Term Borrowings) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Debt Disclosure [Abstract] | |||
Long-term FHLB advances | $ 755 | $ 767 | $ 792 |
Long-term reverse repurchase agreements | 45,000 | 45,000 | 72,000 |
Term loans | 0 | 903 | 1,354 |
Total | $ 45,755 | $ 46,670 | $ 74,146 |
Borrowed Funds (Subordinated De
Borrowed Funds (Subordinated Debentures Owed to Unconsolidated Subsidiary Trusts) (Narrative) (Details) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017USD ($)trust | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | ||
Debt Instrument [Line Items] | ||||
Number of statutory business trusts | trust | 3 | |||
Subordinated debentures owed to unconsolidated subsidiary trusts | $ 19,589 | $ 19,589 | $ 19,589 | [1] |
Net proceeds from issuance of common stock | $ (43) | $ 75 | ||
Basis spread on variable rate | 0.50% | |||
Trust preferred securities limited to tier one capital elements, net of goodwill | 25.00% | |||
[1] | Derived from audited consolidated financial statements |
Borrowed Funds (Summary Of The
Borrowed Funds (Summary Of The Maturities Of All Long-Term Borrowings And Subordinated Debentures) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Total | $ 45,755 | $ 46,670 | $ 74,146 |
Long-term Debt [Member] | |||
2,017 | 4 | ||
2,018 | 45,017 | ||
2,019 | 18 | ||
2,020 | 19 | ||
2,021 | 20 | ||
Thereafter | 677 | ||
Total | 45,755 | ||
Subordinated debentures owed to unconsolidated subsidiary trusts [Member] | |||
2,017 | 0 | ||
2,018 | 0 | ||
2,019 | 0 | ||
2,020 | 0 | ||
2,021 | 0 | ||
Thereafter | 19,589 | ||
Total | $ 19,589 |
Share Based Compensation Share
Share Based Compensation Share Based Compensation (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2017 | Mar. 31, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | May 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Allocated Share-based Compensation Expense | $ 285,000 | $ 150,000 | ||||
Number of LTIP shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | ||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 105,000 | $ 56,000 | ||||
5 Year Vesting Stock Appreciation Rights [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of awards granted | 53,309 | |||||
Vesting period | 5 years | |||||
Percentage vested per year | 20.00% | |||||
Expiration period | 10 years | |||||
7 Year Vesting Stock Appreciation Rights [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of awards granted | 34,306 | |||||
Vesting period | 7 years | |||||
Percentage vested per year | 14.29% | |||||
Expiration period | 10 years | |||||
2014 Long-Term Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Number of LTIP shares authorized | 500,000 |
Share Based Compensation Schedu
Share Based Compensation Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 3 Months Ended |
Mar. 31, 2017 | |
5 Year Vesting Stock Appreciation Rights [Member] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items] | |
Risk-free interest rate | 2.16% |
Expected dividend yield | 1.45% |
Expected common stock volatility | 60.05% |
Expected life | 6 years 6 months |
7 Year Vesting Stock Appreciation Rights [Member] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items] | |
Risk-free interest rate | 2.24% |
Expected dividend yield | 1.45% |
Expected common stock volatility | 59.60% |
Expected life | 7 years |
Share Based Compensation (Summa
Share Based Compensation (Summary Of Activity In Stock Option Plans) (Details) - $ / shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Outstanding Options, Exercised | (2,000) | |
Employee Stock Option and Stock Appreciation Rights (SARs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||
Outstanding Options, Beginning Balance | 217,857 | 244,147 |
Outstanding Options, Granted | 87,615 | 0 |
Outstanding Options, Exercised | (2,000) | 0 |
Outstanding Options, Forfeited | 0 | 0 |
Outstanding Options, Expired | 0 | 0 |
Outstanding Options, Ending Balance | 303,472 | 244,147 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||
Outstanding, Weighted-Average Exercise Price, Beginning Balance | $ 13.56 | $ 14.05 |
Outstanding, Weighted-Average Exercise Price, Granted | 26.01 | 0 |
Outstanding, Weighted-Average Exercise Price, Exercised | 6.21 | 0 |
Outstanding, Weighted-Average Exercise Price, Forfeited | 0 | 0 |
Outstanding, Weighted-Average Exercise Price, Expired | 0 | 0 |
Outstanding, Weighted-Average Exercise Price, Ending Balance | $ 17.20 | $ 14.05 |
Share Based Compensation (Optio
Share Based Compensation (Options Outstanding And Exercisable) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | |
2.54 to 6.00 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of exercise price, Lower | $ 2.54 | ||
Range of exercise price, Upper | 6 | ||
6.01 to 10.00 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of exercise price, Lower | 6.01 | ||
Range of exercise price, Upper | 10 | ||
10.01 to 17.50 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of exercise price, Lower | 10.01 | ||
Range of exercise price, Upper | 17.50 | ||
17.51 to 20.00 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of exercise price, Lower | 17.51 | ||
Range of exercise price, Upper | 20 | ||
20.01 to 25.93 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Range of exercise price, Lower | 20.01 | ||
Range of exercise price, Upper | $ 25.93 | ||
Employee Stock Option and Stock Appreciation Rights (SARs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options Outstanding, number of awards | 303,472 | 303,472 | |
Options Outstanding, WAEP | $ 17.20 | $ 17.20 | |
Options Outstanding, Aggregate Intrinsic Value | $ 2,604 | $ 2,604 | |
Options Exercisable, number of awards | 115,827 | 115,827 | |
Options Exercisable, WAEP | $ 15.02 | $ 15.02 | |
Options Exercisable, Aggregate Intrinsic Value | $ 1,239 | $ 1,239 | |
Employee Stock Option and Stock Appreciation Rights (SARs) [Member] | 2.54 to 6.00 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options Outstanding, number of awards | 5,000 | 5,000 | |
Options Outstanding, WAEP | $ 2.54 | $ 2.54 | |
Options Outstanding, Wted. Avg. Remaining Contractual Life (yrs) | 5 years 9 months 29 days | ||
Options Outstanding, Aggregate Intrinsic Value | $ 116 | $ 116 | |
Options Exercisable, number of awards | 5,000 | 5,000 | |
Options Exercisable, WAEP | $ 2.54 | $ 2.54 | |
Options Exercisable, Aggregate Intrinsic Value | $ 116 | $ 116 | |
Employee Stock Option and Stock Appreciation Rights (SARs) [Member] | 6.01 to 10.00 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options Outstanding, number of awards | 5,640 | 5,640 | |
Options Outstanding, WAEP | $ 8.91 | $ 8.91 | |
Options Outstanding, Wted. Avg. Remaining Contractual Life (yrs) | 1 year 3 months 15 days | ||
Options Outstanding, Aggregate Intrinsic Value | $ 94 | $ 94 | |
Options Exercisable, number of awards | 5,640 | 5,640 | |
Options Exercisable, WAEP | $ 8.91 | $ 8.91 | |
Options Exercisable, Aggregate Intrinsic Value | $ 94 | $ 94 | |
Employee Stock Option and Stock Appreciation Rights (SARs) [Member] | 10.01 to 17.50 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options Outstanding, number of awards | 166,717 | 166,717 | |
Options Outstanding, WAEP | $ 12.01 | $ 12.01 | |
Options Outstanding, Wted. Avg. Remaining Contractual Life (yrs) | 7 years 6 months 26 days | ||
Options Outstanding, Aggregate Intrinsic Value | $ 2,275 | $ 2,275 | |
Options Exercisable, number of awards | 66,687 | 66,687 | |
Options Exercisable, WAEP | $ 12.01 | $ 12.01 | |
Options Exercisable, Aggregate Intrinsic Value | $ 910 | $ 910 | |
Employee Stock Option and Stock Appreciation Rights (SARs) [Member] | 17.51 to 20.00 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options Outstanding, number of awards | 15,100 | 15,100 | |
Options Outstanding, WAEP | $ 17.81 | $ 17.81 | |
Options Outstanding, Wted. Avg. Remaining Contractual Life (yrs) | 9 months 11 days | ||
Options Outstanding, Aggregate Intrinsic Value | $ 119 | $ 119 | |
Options Exercisable, number of awards | 15,100 | 15,100 | |
Options Exercisable, WAEP | $ 17.81 | $ 17.81 | |
Options Exercisable, Aggregate Intrinsic Value | $ 119 | $ 119 | |
Employee Stock Option and Stock Appreciation Rights (SARs) [Member] | 20.01 to 25.93 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options Outstanding, number of awards | 111,015 | 111,015 | |
Options Outstanding, WAEP | $ 25.99 | $ 25.99 | |
Options Outstanding, Wted. Avg. Remaining Contractual Life (yrs) | 7 years 7 months 21 days | ||
Options Outstanding, Aggregate Intrinsic Value | $ 0 | $ 0 | |
Options Exercisable, number of awards | 23,400 | 23,400 | |
Options Exercisable, WAEP | $ 25.93 | $ 25.93 | |
Options Exercisable, Aggregate Intrinsic Value | $ 0 | $ 0 |
Commitments And Contingencies86
Commitments And Contingencies (Details) $ in Thousands | Sep. 30, 2017USD ($) |
Loss Contingencies [Line Items] | |
Total unfunded commitments | $ 233,578 |
Revolving Home Equity And Credit Card Lines [Member] | |
Loss Contingencies [Line Items] | |
Total unfunded commitments | 68,616 |
Construction [Member] | |
Loss Contingencies [Line Items] | |
Total unfunded commitments | 56,715 |
Other Loans [Member] | |
Loss Contingencies [Line Items] | |
Total unfunded commitments | 104,778 |
Standby Letters Of Credit [Member] | |
Loss Contingencies [Line Items] | |
Total unfunded commitments | $ 3,469 |
Commitments And Contingencies C
Commitments And Contingencies Commitments And Contingencies (Narrative) (Details) $ in Thousands | Apr. 24, 2017USD ($) |
Subsequent Event [Line Items] | |
Litigation Settlement, Amount | $ 9,900 |
Common Stock Issuances (Details
Common Stock Issuances (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Subsidiary or Equity Method Investee [Line Items] | |||
Number of common shares issued | 12,428,342 | 10,857,801 | 10,883,509 |
Gross proceeds associated with sale | $ (43) | $ 75 |
Regulatory Matters (Summary Of
Regulatory Matters (Summary Of Actual Capital Amounts And Ratios) (Details) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Summit [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
CET1 (to risk weighted assets), Actual Amount | $ 176,666 | $ 146,494 |
CET1 (to risk weighted assets), Actual Ratio | 10.80% | 10.50% |
CET1 (to risk weighted assets), Minimum Required Capital, Amount | $ 114,506 | $ 97,663 |
CET1 (to risk weighted assets), Minimum Required Capital, Ratio | 7.00% | 7.00% |
CET1 (to risk weighted assets), Minimum Required To Be Well Capitalized, Amount | $ 106,327 | $ 90,687 |
CET1 (to risk weighted assets), Minimum Required To Be Well Capitalized, Ratio | 6.50% | 6.50% |
Tier I Capital (to risk weighted assets), Actual Amount | $ 195,666 | $ 164,357 |
Tier I Capital (to risk weighted assets), Actual Ratio | 11.90% | 11.80% |
Tier I Capital (to risk weighted assets), Minimum Required Capital, Amount | $ 139,761 | $ 118,393 |
Tier I Capital (to risk weighted assets), Minimum Required Capital, Ratio | 8.50% | 8.50% |
Tier I Capital (to risk weighted assets), Minimum Required To Be Well Capitalized, Amount | $ 131,540 | $ 111,428 |
Tier I Capital (to risk weighted assets), Minimum Required To Be Well Capitalized, Ratio | 8.00% | 8.00% |
Total Capital (to risk weighted assets), Actual Amount | $ 208,130 | $ 176,031 |
Total Capital (to risk weighted assets), Actual Ratio | 12.70% | 12.60% |
Total Capital (to risk weighted assets), Minimum Required Capital, Amount | $ 172,076 | $ 146,693 |
Total Capital (to risk weighted assets), Minimum Required Capital, Ratio | 10.50% | 10.50% |
Total Capital (to risk weighted assets), Minimum Required To Be Well Capitalized, Amount | $ 163,882 | $ 139,707 |
Total Capital (to risk weighted assets), Minimum Required To Be Well Capitalized, Ratio | 10.00% | 10.00% |
Tier I Capital (to average assets), Actual Amount | $ 195,666 | $ 164,357 |
Tier I Capital (to average assets), Actual Ratio | 9.50% | 9.40% |
Tier I Capital (to average assets), Minimum Required Capital, Amount | $ 82,386 | $ 69,939 |
Tier I Capital (to average assets), Minimum Required Capital, Ratio | 4.00% | 4.00% |
Tier I Capital (to average assets), Minimum Required To Be Well Capitalized, Amount | $ 102,982 | $ 87,424 |
Tier I Capital (to average assets), Minimum Required To Be Well Capitalized, Ratio | 5.00% | 5.00% |
Summit Community [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
CET1 (to risk weighted assets), Actual Amount | $ 194,410 | $ 165,747 |
CET1 (to risk weighted assets), Actual Ratio | 11.80% | 11.90% |
CET1 (to risk weighted assets), Minimum Required Capital, Amount | $ 115,328 | $ 97,498 |
CET1 (to risk weighted assets), Minimum Required Capital, Ratio | 7.00% | 7.00% |
CET1 (to risk weighted assets), Minimum Required To Be Well Capitalized, Amount | $ 107,090 | $ 90,534 |
CET1 (to risk weighted assets), Minimum Required To Be Well Capitalized, Ratio | 6.50% | 6.50% |
Tier I Capital (to risk weighted assets), Actual Amount | $ 194,410 | $ 165,747 |
Tier I Capital (to risk weighted assets), Actual Ratio | 11.80% | 11.90% |
Tier I Capital (to risk weighted assets), Minimum Required Capital, Amount | $ 140,041 | $ 118,391 |
Tier I Capital (to risk weighted assets), Minimum Required Capital, Ratio | 8.50% | 8.50% |
Tier I Capital (to risk weighted assets), Minimum Required To Be Well Capitalized, Amount | $ 131,803 | $ 111,427 |
Tier I Capital (to risk weighted assets), Minimum Required To Be Well Capitalized, Ratio | 8.00% | 8.00% |
Total Capital (to risk weighted assets), Actual Amount | $ 206,874 | $ 177,421 |
Total Capital (to risk weighted assets), Actual Ratio | 12.60% | 12.70% |
Total Capital (to risk weighted assets), Minimum Required Capital, Amount | $ 172,395 | $ 146,687 |
Total Capital (to risk weighted assets), Minimum Required Capital, Ratio | 10.50% | 10.50% |
Total Capital (to risk weighted assets), Minimum Required To Be Well Capitalized, Amount | $ 164,186 | $ 139,702 |
Total Capital (to risk weighted assets), Minimum Required To Be Well Capitalized, Ratio | 10.00% | 10.00% |
Tier I Capital (to average assets), Actual Amount | $ 194,410 | $ 165,747 |
Tier I Capital (to average assets), Actual Ratio | 9.40% | 9.50% |
Tier I Capital (to average assets), Minimum Required Capital, Amount | $ 82,728 | $ 69,788 |
Tier I Capital (to average assets), Minimum Required Capital, Ratio | 4.00% | 4.00% |
Tier I Capital (to average assets), Minimum Required To Be Well Capitalized, Amount | $ 103,410 | $ 87,235 |
Tier I Capital (to average assets), Minimum Required To Be Well Capitalized, Ratio | 5.00% | 5.00% |
Segment Information (Narrative)
Segment Information (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2017segmentoffice | |
Segment Reporting Information [Line Items] | |
Number of business segments | segment | 3 |
Insurance Services Segment [Member] | |
Segment Reporting Information [Line Items] | |
Number of insurance agency offices | office | 2 |
Segment Information (Schedule O
Segment Information (Schedule Of Segment Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Segment Reporting Information [Line Items] | ||||
Net interest income | $ 17,232 | $ 12,037 | $ 48,709 | $ 35,550 |
Provision for loan losses | 375 | 0 | 875 | 500 |
Net interest income after provision for loan losses | 16,857 | 12,037 | 47,834 | 35,050 |
Other income | 4,000 | 2,749 | 10,496 | 8,601 |
Other expenses | 12,447 | 8,419 | 45,399 | 25,410 |
Income before income tax expense | 8,410 | 6,367 | 12,931 | 18,241 |
Income tax expense (benefit) | 2,480 | 2,086 | 3,339 | 5,655 |
Net income | 5,930 | 4,281 | 9,592 | 12,586 |
Inter-segment revenue (expense) | 0 | 0 | 0 | 0 |
Average assets | 2,088,260 | 1,589,054 | 1,971,487 | 1,543,928 |
Capital Expenditures | 1,497 | 766 | 5,672 | 1,199 |
Community Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 17,408 | 12,197 | 49,220 | 36,028 |
Provision for loan losses | 375 | 0 | 875 | 500 |
Net interest income after provision for loan losses | 17,033 | 12,197 | 48,345 | 35,528 |
Other income | 2,408 | 1,622 | 6,280 | 5,240 |
Other expenses | 10,844 | 7,249 | 41,351 | 21,735 |
Income before income tax expense | 8,597 | 6,570 | 13,274 | 19,033 |
Income tax expense (benefit) | 2,482 | 2,145 | 3,386 | 5,888 |
Net income | 6,115 | 4,425 | 9,888 | 13,145 |
Inter-segment revenue (expense) | (451) | (361) | (1,353) | (1,081) |
Average assets | 2,110,832 | 1,609,343 | 1,994,042 | 1,565,099 |
Capital Expenditures | 1,497 | 766 | 5,544 | 1,099 |
Trust and Wealth Management [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 0 | 0 | 0 | 0 |
Provision for loan losses | 0 | 0 | 0 | 0 |
Net interest income after provision for loan losses | 0 | 0 | 0 | 0 |
Other income | 589 | 126 | 1,284 | 358 |
Other expenses | 546 | 100 | 1,219 | 335 |
Income before income tax expense | 43 | 26 | 65 | 23 |
Income tax expense (benefit) | 16 | 10 | 24 | 9 |
Net income | 27 | 16 | 41 | 14 |
Inter-segment revenue (expense) | 0 | 0 | 0 | 0 |
Average assets | 0 | 0 | 0 | 0 |
Capital Expenditures | 0 | 0 | 0 | 0 |
Insurance Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 0 | 0 | 0 | 0 |
Provision for loan losses | 0 | 0 | 0 | 0 |
Net interest income after provision for loan losses | 0 | 0 | 0 | 0 |
Other income | 1,003 | 1,001 | 2,932 | 3,003 |
Other expenses | 814 | 902 | 2,495 | 2,771 |
Income before income tax expense | 189 | 99 | 437 | 232 |
Income tax expense (benefit) | 92 | 40 | 190 | 95 |
Net income | 97 | 59 | 247 | 137 |
Inter-segment revenue (expense) | (40) | (28) | (120) | (85) |
Average assets | 6,288 | 6,005 | 6,197 | 5,951 |
Capital Expenditures | 0 | 0 | 36 | 9 |
Parent [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | (176) | (160) | (511) | (478) |
Provision for loan losses | 0 | 0 | 0 | 0 |
Net interest income after provision for loan losses | (176) | (160) | (511) | (478) |
Other income | 491 | 389 | 1,473 | 1,166 |
Other expenses | 734 | 557 | 1,807 | 1,735 |
Income before income tax expense | (419) | (328) | (845) | (1,047) |
Income tax expense (benefit) | (110) | (109) | (261) | (337) |
Net income | (309) | (219) | (584) | (710) |
Inter-segment revenue (expense) | 491 | 389 | 1,473 | 1,166 |
Average assets | 217,928 | 175,581 | 203,459 | 172,840 |
Capital Expenditures | 0 | 0 | 92 | 91 |
Intersegment Elimination [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income | 0 | 0 | 0 | 0 |
Provision for loan losses | 0 | 0 | 0 | 0 |
Net interest income after provision for loan losses | 0 | 0 | 0 | 0 |
Other income | (491) | (389) | (1,473) | (1,166) |
Other expenses | (491) | (389) | (1,473) | (1,166) |
Income before income tax expense | 0 | 0 | 0 | 0 |
Income tax expense (benefit) | 0 | 0 | 0 | 0 |
Net income | 0 | 0 | 0 | 0 |
Inter-segment revenue (expense) | 0 | 0 | 0 | 0 |
Average assets | (246,788) | (201,875) | (232,211) | (199,962) |
Capital Expenditures | $ 0 | $ 0 | $ 0 | $ 0 |
Derivative Financial Instrume92
Derivative Financial Instruments (Narrative) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($)contract | |
Derivative [Line Items] | |
Number of forward-starting, pay-fixed/receive LIBOR interest rate swaps | contract | 3 |
Forward Contract effective July 18 2016 [Member] | |
Derivative [Line Items] | |
Notional Amount | $ 40,000 |
Notional Amount | $ 40,000 |
Derivative, swaption interest rate | 2.98% |
Derivative, term of contract | 3 years |
Forward Contract effective April 18 2016 [Member] | |
Derivative [Line Items] | |
Notional Amount | $ 30,000 |
Notional Amount | $ 30,000 |
Derivative, swaption interest rate | 2.89% |
Derivative, term of contract | 4 years 6 months |
Forward Contract effective October 18 2016 [Member] | |
Derivative [Line Items] | |
Notional Amount | $ 40,000 |
Notional Amount | $ 40,000 |
Derivative, swaption interest rate | 2.841% |
Derivative, term of contract | 3 years |
Fair Value Hedging [Member] | |
Derivative [Line Items] | |
Number of forward-starting, pay-fixed/receive LIBOR interest rate swaps | contract | 2 |
Fair Value Hedging [Member] | Commercial Real Estate [Member] | Interest Rate Swap effective January 15 2015 [Member] | |
Derivative [Line Items] | |
Notional Amount | $ 9,950 |
Derivative, swaption interest rate | 4.33% |
Derivative, term of contract | 10 years |
Fair Value Hedging [Member] | Commercial Real Estate [Member] | Interest Rate Swap effective December 18 2015 [Member] | |
Derivative [Line Items] | |
Notional Amount | $ 11,300 |
Derivative, swaption interest rate | 4.30% |
Derivative, term of contract | 10 years |
Derivative Financial Instrume93
Derivative Financial Instruments (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Short-term Debt [Member] | Cash Flow Hedges [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 110,000 | $ 110,000 |
Derivative Fair Value, Asset | 0 | 0 |
Derivative Fair Value, Liability | 3,056 | 4,611 |
Net Ineffectiveness Hedge Gains/(Losses) | 0 | 0 |
Commercial Real Estate [Member] | Fair Value Hedges [Member] | ||
Derivative [Line Items] | ||
Notional Amount | 20,103 | 20,507 |
Derivative Fair Value, Asset | 125 | 200 |
Derivative Fair Value, Liability | 0 | 0 |
Net Ineffectiveness Hedge Gains/(Losses) | $ 0 | $ 0 |
Employee Stock Ownership Plan E
Employee Stock Ownership Plan Employee Stock Ownership Plan (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | |||
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 29,920 | 25,862 | |
Stock Issued During Period, Value, Employee Stock Ownership Plan | $ 681 | $ 428 | |
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 116,619 | 155,960 | 146,539 |
Employee Stock Ownership Plan95
Employee Stock Ownership Plan Employee Stock Ownership Plan (Details) - shares | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Employee Stock Ownership Plan [Abstract] | |||
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 116,619 | 146,539 | 155,960 |
Acquisitions Acquisitions (Nar
Acquisitions Acquisitions (Narrative)(Details) - USD ($) $ / shares in Units, $ in Thousands | Apr. 01, 2017 | Oct. 01, 2016 | Jun. 01, 2016 | Sep. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 |
Business Acquisition [Line Items] | |||||||
Goodwill | $ 15,273 | $ 10,990 | |||||
HIghland County Bankshares Inc and Subsidiary First and Citizens Bank [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 123,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | $ 107,000 | ||||||
First Century Bankshares, Inc [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Acquisition, Combination Of Equity And Cash, Cash | 35.00% | ||||||
Business Acquisition, Combination Of Equity And Cash, Common Stock | 65.00% | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||||
Business Acquisition, Share Price | $ 22.50 | ||||||
Business Acquisition, Share Price, Number Of Shares | 1,537,912 | 1.2433 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 406,154 | $ 406,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 360,942 | $ 361,000 | |||||
Goodwill | 4,250 | ||||||
Cash Consideration [Domain] | HIghland County Bankshares Inc and Subsidiary First and Citizens Bank [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Consideration Transferred | $ 21,800 | ||||||
Cash Consideration [Domain] | First Century Bankshares, Inc [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Consideration Transferred | 15,000 | ||||||
Stock Consideration [Domain] | First Century Bankshares, Inc [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Business Combination, Consideration Transferred | $ 33,100 | ||||||
Core Deposits [Member] | First Century Bankshares, Inc [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 15 years |
Acquisitions Schedule of Consid
Acquisitions Schedule of Consideration Paid, Assets Acquired and Liabilities Assumed in Acquisition of FCB (Details) - USD ($) $ in Thousands | Apr. 01, 2017 | Sep. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 15,273 | $ 10,990 | ||
As Recorded By Summit [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred | $ 48,116 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 54,042 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 101,317 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Securities Available for Sale | 295 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Purchased Performing Loans | 222,116 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Purchased Performing Loans | (2,693) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Purchased Credit Impaired Loans | 3,627 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Purchased Credit Impaired Loans | (540) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets, Allowance For Loan Losses | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Allowance For Loan Losses | 2,511 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 6,174 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Property, Plant, And Equipment | (4,222) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property Held-For-Sale | 2,377 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Property Held-For-Sale | (2,219) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Goodwill | (5,183) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 10,916 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Intangibles | 10,916 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 5,102 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Other Assets | 652 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 405,671 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Assets | (483) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 350,533 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Deposits | 807 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | 11,274 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Other Liabilities | 58 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 361,807 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Liabilities | 865 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 43,864 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Fair Value Adjustment, Assets (Liabilities), Net | (1,348) | |||
Goodwill | 4,252 | |||
First Century Bankshares, Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 54,042 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 101,022 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Purchased Performing Loans | 224,809 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Purchased Credit Impaired Loans | 4,167 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Assets, Allowance For Loan Losses | (2,511) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 10,396 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property Held-For-Sale | 4,596 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Goodwill | 5,183 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 4,450 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 406,154 | $ 406,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | 349,726 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | 11,216 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 360,942 | $ 361,000 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 45,212 | |||
Goodwill | 4,250 | |||
Cash Consideration [Domain] | As Recorded By Summit [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred | 14,989 | |||
Cash Consideration [Domain] | First Century Bankshares, Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred | 15,000 | |||
Stock Consideration [Domain] | As Recorded By Summit [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred | 33,127 | |||
Stock Consideration [Domain] | First Century Bankshares, Inc [Member] | ||||
Business Acquisition [Line Items] | ||||
Business Combination, Consideration Transferred | $ 33,100 |
Acquisitions Summary of PCI Loa
Acquisitions Summary of PCI Loan Portfolio (Details) - First Century Bankshares, Inc [Member] $ in Thousands | Apr. 01, 2017USD ($) |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $ 4,885 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield, Reclassifications to Nonaccretable Difference | (597) |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 4,288 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Accretable Yield | (661) |
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value | $ 3,627 |
Acquisitions Pro Forma Financia
Acquisitions Pro Forma Financial Information of Combined Entities (Details) - Highland County Bankshares Inc and First Century Bankshares Inc [Member] - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Business Acquisition [Line Items] | ||
Total revenues, net of interest expense | $ 64,313 | $ 61,457 |
Net income | $ 11,176 | $ 15,017 |
Diluted earnings per share (in USD per share) | $ 0.95 | $ 1.23 |
Acquisitions Financial Effects
Acquisitions Financial Effects of Purchase Accounting Adjustments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Business Acquisition [Line Items] | ||
Interest and Fees on Loans | $ 224 | $ 712 |
Interest Expense on Deposits | 76 | 167 |
Amortization of Intangibles | (399) | (825) |
Income Before Income Tax Expense | $ (99) | $ 54 |
Accumulated Other Comprehens101
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||
Accumulated other comprehensive income (loss) | $ 389 | $ (418) | $ 389 | $ (418) | $ (307) | $ (3,262) | [1] | $ (121) | $ (456) |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 712 | (259) | 3,688 | 565 | |||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (16) | (38) | (37) | (527) | |||||
Other Comprehensive Income (Loss), Net of Tax | 696 | (297) | 3,651 | 38 | |||||
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | |||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||
Accumulated other comprehensive income (loss) | 219 | 219 | 219 | 0 | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 0 | 219 | |||||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | |||||||
Other Comprehensive Income (Loss), Net of Tax | 0 | 219 | |||||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||
Accumulated other comprehensive income (loss) | (1,925) | (4,527) | (1,925) | (4,527) | (2,238) | (2,905) | (5,135) | (3,195) | |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 313 | 608 | 980 | (1,332) | |||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 0 | 0 | 0 | |||||
Other Comprehensive Income (Loss), Net of Tax | 313 | 608 | 980 | (1,332) | |||||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||||||
Accumulated other comprehensive income (loss) | 2,095 | 4,109 | 2,095 | 4,109 | $ 1,712 | $ (357) | $ 5,014 | $ 2,739 | |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 399 | (867) | 2,489 | 1,897 | |||||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (16) | (38) | (37) | (527) | |||||
Other Comprehensive Income (Loss), Net of Tax | $ 383 | $ (905) | $ 2,452 | $ 1,370 | |||||
[1] | Derived from audited consolidated financial statements |
Income Taxes Income Taxes (Narr
Income Taxes Income Taxes (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Income tax expense | $ 2,480 | $ 2,086 | $ 3,339 | $ 5,655 |
Effective Income Tax Rate Reconciliation, Percent | 29.50% | 32.80% | 25.80% | 31.00% |
Income Taxes Income Taxes (Reco
Income Taxes Income Taxes (Reconciliation Statutory Income Tax Rates) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | 35.00% | 35.00% |
Effective Income Tax Rate Reconciliation, Tax Exempt Income, Percent | (5.10%) | (4.20%) | (8.80%) | (4.40%) |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 1.80% | 1.70% | 1.80% | 1.60% |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | (2.20%) | 0.30% | (2.20%) | (1.20%) |
Effective Income Tax Rate Reconciliation, Percent | 29.50% | 32.80% | 25.80% | 31.00% |
Income Taxes Income Taxes (Sche
Income Taxes Income Taxes (Schedule of Components of Applicable Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Current Federal Tax Expense (Benefit) | $ 2,436 | $ 1,992 | $ 3,315 | $ 5,439 |
Current State and Local Tax Expense (Benefit) | 251 | 171 | 388 | 451 |
Current Income Tax Expense (Benefit) | 2,687 | 2,163 | 3,703 | 5,890 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | ||||
Deferred Federal Income Tax Expense (Benefit) | (190) | (76) | (333) | (234) |
Deferred State and Local Income Tax Expense (Benefit) | (17) | (1) | (31) | (1) |
Deferred Income Tax Expense (Benefit) | (207) | (77) | (364) | (235) |
Income Tax Expense (Benefit) | $ 2,480 | $ 2,086 | $ 3,339 | $ 5,655 |