Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2016shares | |
Entity Registrant Name | FIRST INTERSTATE BANCSYSTEM INC |
Entity Central Index Key | 860,413 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Accelerated Filer |
Document Type | 10-Q |
Document Period End Date | Jun. 30, 2016 |
Document Fiscal Year Focus | 2,016 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | false |
Class A Common Stock | |
Entity Common Stock, Shares Outstanding | 21,131,759 |
Class B Common Stock | |
Entity Common Stock, Shares Outstanding | 23,614,455 |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 125,995 | $ 132,595 |
Federal funds sold | 146 | 563 |
Interest bearing deposits in banks | 349,910 | 647,299 |
Total cash and cash equivalents | 476,051 | 780,457 |
Investment securities: | ||
Available-for-sale | 1,505,581 | 1,456,840 |
Held-to-maturity (estimated fair values of $574,482 and $607,550 at June 30, 2016 and December 31, 2015, respectively) | 556,247 | 600,665 |
Total investment securities | 2,061,828 | 2,057,505 |
Loans held for investment | 5,340,189 | 5,193,321 |
Mortgage loans held for sale | 73,053 | 52,875 |
Total loans | 5,413,242 | 5,246,196 |
Less allowance for loan losses | 80,340 | 76,817 |
Net loans | 5,332,902 | 5,169,379 |
Goodwill | 204,481 | 204,523 |
Premises and equipment, net of accumulated depreciation | 187,538 | 190,812 |
Company-owned life insurance | 189,524 | 187,253 |
Other real estate owned (OREO) | 7,908 | 6,254 |
Accrued interest receivable | 27,448 | 27,729 |
Core deposit intangibles, net of accumulated amortization | 8,935 | 10,589 |
Mortgage servicing rights, net of accumulated amortization and impairment reserve | 16,038 | 15,621 |
Other assets | 92,723 | 78,074 |
Total assets | 8,605,376 | 8,728,196 |
Deposits: | ||
Non-interest bearing | 1,783,609 | 1,823,716 |
Interest bearing | 5,197,839 | 5,265,221 |
Total deposits | 6,981,448 | 7,088,937 |
Securities sold under repurchase agreements | 466,399 | 510,635 |
Accounts payable and accrued expenses | 59,664 | 53,042 |
Accrued interest payable | 5,647 | 4,960 |
Deferred tax liability | 16,673 | 9,765 |
Long-term debt | 27,928 | 27,885 |
Other borrowed funds | 15 | 2 |
Subordinated debentures held by subsidiary trusts | 82,477 | 82,477 |
Total liabilities | 7,640,251 | 7,777,703 |
Stockholders' equity: | ||
Nonvoting noncumulative preferred stock without par value; authorized 100,000 shares; no shares issued and outstanding as of June 30, 2016 or December 31, 2015 | 0 | 0 |
Common stock | 290,366 | 311,720 |
Retained earnings | 664,337 | 638,367 |
Accumulated other comprehensive income, net | 10,422 | 406 |
Total stockholders' equity | 965,125 | 950,493 |
Total liabilities and stockholders' equity | $ 8,605,376 | $ 8,728,196 |
Consolidated Balance Sheets (U3
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Investment securities: | ||
Held-to-Maturity, Estimated Fair Value | $ 574,482 | $ 607,550 |
Stockholders' equity: | ||
Nonvoting noncumulative preferred stock, par value | $ 0 | $ 0 |
Nonvoting noncumulative preferred stock, authorized shares | 100,000 | 100,000 |
Nonvoting noncumulative preferred stock, issued shares | 0 | 0 |
Nonvoting noncumulative preferred stock, outstanding shares | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Interest income: | ||||
Interest and fees on loans | $ 62,634 | $ 60,402 | $ 125,450 | $ 119,773 |
Interest and dividends on investment securities: | ||||
Taxable | 7,982 | 8,000 | 16,020 | 15,971 |
Exempt from federal taxes | 858 | 1,040 | 1,737 | 2,099 |
Interest on deposits in banks | 482 | 271 | 1,127 | 660 |
Interest on federal funds sold | 3 | 5 | 5 | 7 |
Total interest income | 71,959 | 69,718 | 144,339 | 138,510 |
Interest expense: | ||||
Interest on deposits | 3,108 | 3,239 | 6,336 | 6,548 |
Interest on securities sold under repurchase agreements | 92 | 53 | 182 | 107 |
Interest on long-term debt | 451 | 538 | 900 | 1,052 |
Interest on subordinated debentures held by subsidiary trusts | 675 | 600 | 1,338 | 1,190 |
Total interest expense | 4,326 | 4,430 | 8,756 | 8,897 |
Net interest income | 67,633 | 65,288 | 135,583 | 129,613 |
Provision for loan losses | 2,550 | 1,340 | 6,550 | 2,435 |
Net interest income after provision for loan losses | 65,083 | 63,948 | 129,033 | 127,178 |
Non-interest income: | ||||
Payment services revenues | 8,648 | 8,437 | 16,639 | 15,809 |
Income from the origination and sale of loans | 9,409 | 8,802 | 15,550 | 14,708 |
Investment Advisory, Management and Administrative Fees | 5,166 | 4,897 | 9,741 | 9,834 |
Service charges on deposit accounts | 4,626 | 4,053 | 9,089 | 7,997 |
Other service charges, commissions and fees | 2,845 | 2,736 | 5,453 | 5,231 |
Investment securities gains, net | 108 | 46 | 87 | 52 |
Other income | 2,457 | 2,792 | 4,750 | 6,050 |
Non-recurring litigation recovery | 3,750 | 0 | 3,750 | 0 |
Total non-interest income | 37,009 | 31,763 | 65,059 | 59,681 |
Non-interest expense: | ||||
Salaries and wages | 26,707 | 26,093 | 51,389 | 51,442 |
Employee benefits | 8,066 | 8,063 | 17,675 | 15,979 |
Outsourced technology services | 4,800 | 2,593 | 9,632 | 5,056 |
Occupancy, net | 4,284 | 4,529 | 8,948 | 9,021 |
Furniture and equipment | 2,460 | 3,703 | 4,716 | 7,496 |
OREO expense, net of income | 140 | (823) | 101 | (884) |
Professional fees | 1,136 | 1,514 | 2,444 | 2,815 |
FDIC insurance premiums | 1,198 | 1,304 | 2,456 | 2,446 |
Mortgage servicing rights amortization | 722 | 627 | 1,356 | 1,246 |
Mortgage servicing rights impairment recovery | (20) | (56) | (5) | (71) |
Core deposit intangibles amortization | 827 | 854 | 1,654 | 1,709 |
Other expenses | 12,575 | 13,577 | 24,198 | 25,381 |
Non-core acquisition expenses | 0 | (7) | 0 | 63 |
Total non-interest expense | 62,895 | 61,971 | 124,564 | 121,699 |
Income before income tax expense | 39,197 | 33,740 | 69,528 | 65,160 |
Income tax expense | 13,643 | 11,518 | 23,850 | 21,958 |
Net income | $ 25,554 | $ 22,222 | $ 45,678 | $ 43,202 |
Basic earnings per common share | $ 0.58 | $ 0.49 | $ 1.03 | $ 0.95 |
Diluted earnings per common share | $ 0.57 | $ 0.49 | $ 1.02 | $ 0.94 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 25,554 | $ 22,222 | $ 45,678 | $ 43,202 |
Other comprehensive income (loss), before tax: | ||||
Change in net unrealized gains/losses during period | 10,043 | (9,196) | 18,671 | 1,412 |
Reclassification adjustment for net (gains) losses included in income | (108) | (46) | (87) | (52) |
Change in unamortized loss on available-for-sale securities transferred into held-to-maturity | 452 | 451 | 904 | 902 |
Unrealized loss on derivatives | (804) | 0 | (3,002) | 0 |
Defined benefit post-retirement benefits plans: | ||||
Change in net actuarial loss | 13 | 13 | 28 | 28 |
Other comprehensive income (loss), before tax | 9,596 | (8,778) | 16,514 | 2,290 |
Deferred tax benefit (expense) related to other comprehensive income | (3,775) | 3,454 | (6,498) | (901) |
Other comprehensive income (loss), net of tax | 5,821 | (5,324) | 10,016 | 1,389 |
Comprehensive income, net of tax | $ 31,375 | $ 16,898 | $ 55,694 | $ 44,591 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders Equity (Unaudited) - USD ($) $ in Thousands | Total | Common stock | Retained earnings | Accumulated other comprehensive income |
Beginning Balance at Dec. 31, 2014 | $ 908,924 | $ 323,596 | $ 587,862 | $ (2,534) |
Comprehensive income: | ||||
Net income | 43,202 | 0 | 43,202 | 0 |
Other comprehensive income, net of tax | 1,389 | 0 | 0 | 1,389 |
Common stock transactions: | ||||
Common shares purchased and retired 789,743 and 387,967 in 2015 and 2014, respectively | (15,264) | (15,264) | 0 | 0 |
Stock Issued During Period, 21,414 and 1,402,811 in 2015 and 2014, respectively | 0 | 0 | 0 | 0 |
Non-vested common shares issued 169,577 and 147,876 in 2015 and 2014 respectively | 0 | 0 | 0 | 0 |
6,484 and 17,741 non-vested common shares forfeited in 2015 and 2014 respectively | 0 | 0 | 0 | 0 |
158,828 and 372,880 stock options exercised, net of 58,996 and 166,780 shares tendered in payment of option price and income tax withholding amounts in 2015 and 2014 respectively | 1,670 | 1,670 | 0 | 0 |
Tax benefit of stock-based compensation | 804 | 804 | 0 | 0 |
Stock-based compensation expense | 2,319 | 2,319 | 0 | 0 |
Cash dividends declared: | ||||
Common ($0.40 per share) in 2015 and ($0.32 per share) in 2014 | (18,189) | 0 | (18,189) | 0 |
Ending Balance at Jun. 30, 2015 | 924,855 | 313,125 | 612,875 | (1,145) |
Beginning Balance at Dec. 31, 2015 | 950,493 | 311,720 | 638,367 | 406 |
Comprehensive income: | ||||
Net income | 45,678 | 0 | 45,678 | 0 |
Other comprehensive income, net of tax | 10,016 | 0 | 0 | 10,016 |
Common stock transactions: | ||||
Common shares purchased and retired 789,743 and 387,967 in 2015 and 2014, respectively | (26,042) | (26,042) | 0 | 0 |
Stock Issued During Period, 21,414 and 1,402,811 in 2015 and 2014, respectively | 0 | 0 | 0 | 0 |
Non-vested common shares issued 169,577 and 147,876 in 2015 and 2014 respectively | 0 | 0 | 0 | 0 |
6,484 and 17,741 non-vested common shares forfeited in 2015 and 2014 respectively | 0 | 0 | 0 | 0 |
158,828 and 372,880 stock options exercised, net of 58,996 and 166,780 shares tendered in payment of option price and income tax withholding amounts in 2015 and 2014 respectively | 1,684 | 1,684 | 0 | 0 |
Tax benefit of stock-based compensation | 619 | 619 | 0 | 0 |
Stock-based compensation expense | 2,385 | 2,385 | 0 | 0 |
Cash dividends declared: | ||||
Common ($0.40 per share) in 2015 and ($0.32 per share) in 2014 | (19,708) | 0 | (19,708) | 0 |
Ending Balance at Jun. 30, 2016 | $ 965,125 | $ 290,366 | $ 664,337 | $ 10,422 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders Equity (Unaudited) (Parenthetical) - $ / shares | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Common stock | ||
Common stock transactions: | ||
Common shares purchased and retired | 995,600 | 588,409 |
Common shares issued | 16,085 | 21,414 |
Non-vested common shares issued | 189,624 | 156,956 |
Non-vested common shares forfeited | 21,397 | 1,678 |
Stock options exercised | 186,430 | 129,885 |
Shares tendered in payment of option price and income tax withholding amounts | 57,153 | 37,567 |
Retained earnings | ||
Cash dividends declared: | ||
Common (in dollars per share) | $ 0.44 | $ 0.40 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Proceeds from sale of loan production office | $ 932 | $ 0 |
Cash flows from operating activities: | ||
Net income | 45,678 | 43,202 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 6,550 | 2,435 |
Net (gain) loss on disposal of property and equipment | 188 | (856) |
Depreciation and amortization | 9,491 | 9,090 |
Net premium amortization on investment securities | 6,347 | 7,021 |
Net gains on investment securities transactions | (87) | (52) |
Net gains on sales of mortgage loans held for sale | (10,544) | (10,759) |
Net gain on sale of OREO | (636) | (1,736) |
Write-downs of OREO and other assets pending disposal | 621 | 106 |
Net reversal of impairment of mortgage servicing rights | (5) | (71) |
Deferred income tax expense | 321 | 9,108 |
Net increase in cash surrender value of company-owned life insurance policies | (2,271) | (1,304) |
Stock-based compensation expense | 2,385 | 2,319 |
Tax benefits from stock-based compensation expense | 619 | 804 |
Excess tax benefits from stock-based compensation | (495) | (530) |
Originations of loans held for sale | (468,560) | (561,779) |
Proceeds from sales of loans held for sale | 457,132 | 546,871 |
Changes in operating assets and liabilities: | ||
Increase in interest receivable | 281 | (1,945) |
Increase in other assets | (14,551) | (1,034) |
Decrease in accrued interest payable | 687 | (467) |
Decrease in accounts payable and accrued expenses | 3,701 | (12,268) |
Net cash provided by operating activities | 36,852 | 28,155 |
Cash flows from investing activities: | ||
Purchases of held-to-maturity investment securities | (9,883) | (27,640) |
Purchases of available-for-sale investment securities | (459,569) | (223,483) |
Proceeds from maturities and paydowns of held-to-maturity investment securities | 53,977 | 55,654 |
Proceeds from maturities and paydowns of available-for-sale investment securities | 424,458 | 337,538 |
Purchases of company-owned life insurance | 0 | 22,500 |
Extensions of credit to customers, net of repayments | (159,410) | (190,392) |
Recoveries of loans charged-off | 4,717 | 3,285 |
Proceeds from sales of OREO | 2,398 | 7,807 |
Capital expenditures, net of sales | (3,638) | 514 |
Net cash used in investing activities | (146,018) | (59,217) |
Cash flows from financing activities: | ||
Net increase (decrease) in deposits | (107,489) | (201,811) |
Net increase (decrease) in repurchase agreements | (44,236) | (33,105) |
Net increase (decrease) in other borrowed funds | 13 | (6) |
Repayments of long-term debt | (32) | (30) |
Advances on long-term debt | 75 | 5,031 |
Proceeds from issuance of common stock | 1,684 | 1,670 |
Excess tax benefits from stock-based compensation | 495 | 530 |
Purchase and retirement of common stock | (26,042) | (15,264) |
Dividends paid to common stockholders | (19,708) | (18,189) |
Net cash provided by (used in) financing activities | (195,240) | (261,174) |
Net increase (decrease) in cash and cash equivalents | (304,406) | (292,236) |
Cash and cash equivalents at beginning of period | 780,457 | 798,670 |
Cash and cash equivalents at end of period | 476,051 | 506,434 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for income taxes | 27,566 | 18,450 |
Cash paid during the period for interest expense | 8,069 | 9,364 |
Transfer of loans to other real estate owned | 4,019 | 4,396 |
Capitalization of internally originated mortgage servicing rights | $ 1,768 | $ 1,792 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | In the opinion of management, the accompanying unaudited consolidated financial statements of First Interstate BancSystem, Inc. and subsidiaries (the “Company”) contain all adjustments (all of which are of a normal recurring nature) necessary to present fairly the financial position of the Company at June 30, 2016 and December 31, 2015 , the results of operations for each of the three and six month periods ended June 30, 2016 and 2015 , and cash flows each of the six month periods ended June 30, 2016 and 2015 , in conformity with U.S. generally accepted accounting principles. The balance sheet information at December 31, 2015 is derived from audited consolidated financial statements. Certain reclassifications, none of which were material, have been made to conform prior year financial statements to the June 30, 2016 presentation. These reclassifications did not change previously reported net income or stockholders’ equity. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . Operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 . |
Acquisitions
Acquisitions | 6 Months Ended |
Jun. 30, 2016 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions Flathead Bank. On April 6, 2016 , the Company's bank subsidiary, First Interstate Bank, entered into a stock purchase agreement to acquire all of the outstanding stock of Flathead Bank of Bigfork ("Flathead Bank"), a Montana-based bank wholly owned by Flathead Holding Company. With total assets of $ 231,574 as of December 31, 2015, Flathead Bank operates seven branches in western and northwestern Montana. Upon closing of the transaction, which is expected to occur during the third quarter of 2016, all Flathead Bank branches will become branches of First Interstate Bank. Pursuant to the Purchase Agreement, First Interstate Bank will pay cash consideration of approximately $ 34,237 for the stock, subject to certain financial performance and other adjustments, the amount of which will be determined prior to the closing date of the transaction. Absarokee Bancorporation, Inc. On July 24, 2015 , the Company acquired all of the outstanding stock of Absarokee Bancorporation, Inc. ("Absarokee"), a Montana-based bank holding company that operated one subsidiary bank, United Bank. The Company merged United Bank with and into First Interstate Bank immediately subsequent to the acquisition. During March 2016 , the Company completed its review of Absarokee's tax items and finalized the fair value of the acquired deferred tax asset. Finalization of provisional estimates resulted in a $ 42 decrease in goodwill. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | he amortized cost and approximate fair values of investment securities are summarized as follows: June 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-Sale: U.S. Treasury notes $ 3,909 $ 44 $ — $ 3,953 Obligations of U.S. government agencies 450,544 2,882 (21 ) 453,405 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 1,022,462 22,252 (117 ) 1,044,597 Private mortgage-backed securities 136 1 (2 ) 135 Other investments 3,450 41 — 3,491 Total $ 1,480,501 $ 25,220 $ (140 ) $ 1,505,581 June 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Held-to-Maturity: State, county and municipal securities $ 164,334 $ 7,024 $ (1 ) $ 171,357 Corporate securities 51,262 580 — 51,842 Obligations of U.S. government agencies 19,737 483 — 20,220 U.S agency residential mortgage-backed securities & collateralized mortgage obligations 320,620 15,925 (5,777 ) 330,768 Other investments 294 1 — 295 Total $ 556,247 $ 24,013 $ (5,778 ) $ 574,482 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-Sale: U.S. Treasury notes $ 3,912 $ 3 $ (4 ) $ 3,911 Obligations of U.S. government agencies 521,079 712 (1,610 ) 520,181 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 921,699 9,448 (2,101 ) 929,046 Private mortgage-backed securities 156 1 (1 ) 156 Other investments 3,550 5 (9 ) 3,546 Total $ 1,450,396 $ 10,169 $ (3,725 ) $ 1,456,840 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Held-to-Maturity: State, county and municipal securities $ 173,785 $ 5,103 $ (227 ) $ 178,661 Corporate securities 50,046 64 (220 ) 49,890 Obligations of U.S. government agencies 19,738 — (102 ) 19,636 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 356,742 7,686 (5,420 ) 359,008 Other investments 354 1 — 355 Total $ 600,665 $ 12,854 $ (5,969 ) $ 607,550 Gross realized gains and losses from the disposition of investment securities are summarized in the following table: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Gross realized gains $ 108 $ 46 $ 165 $ 52 Gross realized losses — — (78 ) — On October 30, 2015 , the Company transferred available-for-sale U.S. agency residential mortgage-backed securities and collateralized mortgage obligations with amortized costs and fair values of $ 100,343 and $ 100,140 , respectively, into the held-to-maturity category. Unrealized net losses of $ 203 included in accumulated other comprehensive income at the time of the transfer are being amortized to yield over the remaining expected lives of the transferred securities of 4 years. On June 27, 2014 , the Company transferred available-for-sale U.S. agency residential mortgage-backed securities and collateralized mortgage obligations with amortized costs and fair values of $ 396,640 and $ 388,808 , respectively, into the held-to-maturity category. Unrealized net losses of $ 7,832 at the time of the transfer are being amortized to yield over the remaining expected lives of the transferred securities of 4.3 years. The following tables show the gross unrealized losses and fair values of investment securities, aggregated by investment category, and the length of time individual investment securities have been in a continuous unrealized loss position, as of June 30, 2016 and December 31, 2015 : Less than 12 Months 12 Months or More Total June 30, 2016 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-Sale: Obligations of U.S. government agencies $ — $ — $ 10,477 $ (21 ) $ 10,477 $ (21 ) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 11,097 (41 ) 18,609 (76 ) 29,706 (117 ) Private mortgage-backed securities — — 54 (2 ) 54 (2 ) Total $ 11,097 $ (41 ) $ 29,140 $ (99 ) $ 40,237 $ (140 ) Less than 12 Months 12 Months or More Total June 30, 2016 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Held-to-Maturity: State, county and municipal securities $ 625 $ — $ 2,233 $ (1 ) $ 2,858 $ (1 ) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 5,030 (2,631 ) 20,683 (3,146 ) 25,713 (5,777 ) Total $ 5,655 $ (2,631 ) $ 22,916 $ (3,147 ) $ 28,571 $ (5,778 ) Less than 12 Months 12 Months or More Total December 31, 2015 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-Sale: U.S. Treasury notes $ 2,092 $ (4 ) $ — $ — $ 2,092 $ (4 ) Obligations of U.S. government agencies 209,631 (1,077 ) 54,619 (533 ) 264,250 (1,610 ) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 343,875 (1,577 ) 28,010 (524 ) 371,885 (2,101 ) Private mortgage-backed securities — — 61 (1 ) 61 (1 ) Other investments 1,225 (9 ) — — 1,225 (9 ) Total $ 556,823 $ (2,667 ) $ 82,690 $ (1,058 ) $ 639,513 $ (3,725 ) Less than 12 Months 12 Months or More Total December 31, 2015 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Held-to-Maturity: State, county and municipal securities $ 10,182 $ (39 ) $ 9,476 $ (188 ) $ 19,658 $ (227 ) Obligations of U.S. government agencies 19,738 (102 ) — — 19,738 (102 ) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 67,295 (4,288 ) 69,539 (1,132 ) 136,834 (5,420 ) Corporate securities 31,135 (220 ) — — 31,135 (220 ) Total $ 128,350 $ (4,649 ) $ 79,015 $ (1,320 ) $ 207,365 $ (5,969 ) The investment portfolio is evaluated quarterly for other-than-temporary declines in the market value of each individual investment security. The Company had 55 and 198 individual investment securities that were in an unrealized loss position as of June 30, 2016 and December 31, 2015 , respectively. As of June 30, 2016 , the Company had the intent and ability to hold these investment securities for a period of time sufficient to allow for an anticipated recovery. Furthermore, the Company does not have the intent to sell any of the available-for-sale securities in the above table and it is more likely than not that the Company will not have to sell any securities before a recovery in cost. No impairment losses were recorded during three or six months ended June 30, 2016 and 2015 . Maturities of investment securities at June 30, 2016 are shown below. Maturities of mortgage-backed securities have been adjusted to reflect shorter maturities based upon estimated prepayments of principal. All other investment securities maturities are shown at contractual maturity dates. Available-for-Sale Held-to-Maturity June 30, 2016 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Within one year $ 352,031 $ 358,337 $ 90,746 $ 94,029 After one year but within five years 1,049,286 1,066,900 311,641 319,471 After five years but within ten years 58,599 59,317 128,607 134,596 After ten years 20,585 21,027 25,253 26,386 Total $ 1,480,501 $ 1,505,581 $ 556,247 $ 574,482 As of June 30, 2016 , the Company had investment securities callable within one year with amortized costs and estimated fair values of $ 231,957 and $ 232,619 , respectively. These investment securities are primarily included in the after one year but within five years category in the table above. As of June 30, 2016 , the Company had no callable structured notes. |
Loans
Loans | 6 Months Ended |
Jun. 30, 2016 | |
Receivables [Abstract] | |
Loans | Loans The following table presents loans by class as of the dates indicated: June 30, December 31, Real estate loans: Commercial $ 1,816,813 $ 1,793,258 Construction: Land acquisition & development 218,650 224,066 Residential 113,944 111,763 Commercial 117,643 94,890 Total construction loans 450,237 430,719 Residential 1,030,593 1,032,851 Agricultural 166,872 156,234 Total real estate loans 3,464,515 3,413,062 Consumer: Indirect consumer 687,768 622,529 Other consumer 153,185 153,717 Credit card 66,221 68,107 Total consumer loans 907,174 844,353 Commercial 824,962 792,416 Agricultural 139,892 142,151 Other, including overdrafts 3,646 1,339 Loans held for investment 5,340,189 5,193,321 Mortgage loans held for sale 73,053 52,875 Total loans $ 5,413,242 $ 5,246,196 Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. The following tables present the contractual aging of the Company’s recorded investment in past due loans by class as of the dates indicated: Total Loans 30 - 59 60 - 89 > 90 30 or More Days Days Days Days Current Non-accrual Total As of June 30, 2016 Past Due Past Due Past Due Past Due Loans Loans Loans Real estate Commercial $ 2,707 $ 336 $ 287 $ 3,330 $ 1,784,134 $ 29,349 $ 1,816,813 Construction: Land acquisition & development 305 205 69 579 212,210 5,861 218,650 Residential 619 — — 619 113,053 272 113,944 Commercial — — — — 115,975 1,668 117,643 Total construction loans 924 205 69 1,198 441,238 7,801 450,237 Residential 4,526 981 2,138 7,645 1,020,251 2,697 1,030,593 Agricultural 224 103 112 439 160,970 5,463 166,872 Total real estate loans 8,381 1,625 2,606 12,612 3,406,593 45,310 3,464,515 Consumer: Indirect consumer 5,503 1,823 304 7,630 679,558 580 687,768 Other consumer 823 170 35 1,028 151,764 393 153,185 Credit card 488 340 509 1,337 64,884 — 66,221 Total consumer loans 6,814 2,333 848 9,995 896,206 973 907,174 Commercial 4,268 806 592 5,666 792,012 27,284 824,962 Agricultural 578 243 97 918 138,230 744 139,892 Other, including overdrafts — — 311 311 3,335 — 3,646 Loans held for investment 20,041 5,007 4,454 29,502 5,236,376 74,311 5,340,189 Mortgage loans originated for sale — — — — 73,053 — 73,053 Total loans $ 20,041 $ 5,007 $ 4,454 $ 29,502 $ 5,309,429 $ 74,311 $ 5,413,242 Total Loans 30 - 59 60 - 89 > 90 30 or More Days Days Days Days Current Non-accrual Total As of December 31, 2015 Past Due Past Due Past Due Past Due Loans Loans Loans Real estate Commercial $ 6,051 $ 724 $ 418 $ 7,193 $ 1,762,294 $ 23,771 $ 1,793,258 Construction: Land acquisition & development 3,190 163 1,325 4,678 212,757 6,631 224,066 Residential 1,288 — — 1,288 110,182 293 111,763 Commercial 3,232 — — 3,232 90,703 955 94,890 Total construction loans 7,710 163 1,325 9,198 413,642 7,879 430,719 Residential 5,991 1,196 2,063 9,250 1,018,359 5,242 1,032,851 Agricultural 176 17 — 193 150,686 5,355 156,234 Total real estate loans 19,928 2,100 3,806 25,834 3,344,981 42,247 3,413,062 Consumer: Indirect consumer 6,675 1,089 210 7,974 614,029 526 622,529 Other consumer 1,312 331 34 1,677 151,381 659 153,717 Credit card 533 317 477 1,327 66,768 12 68,107 Total consumer loans 8,520 1,737 721 10,978 832,178 1,197 844,353 Commercial 8,493 1,060 699 10,252 759,851 22,313 792,416 Agricultural 879 152 62 1,093 140,430 628 142,151 Other, including overdrafts — — 314 314 1,025 — 1,339 Loans held for investment 37,820 5,049 5,602 48,471 5,078,465 66,385 5,193,321 Mortgage loans originated for sale — — — — 52,875 — 52,875 Total loans $ 37,820 $ 5,049 $ 5,602 $ 48,471 $ 5,131,340 $ 66,385 $ 5,246,196 Loans from business combinations included in the tables above include certain loans that had evidence of deterioration in credit quality since origination and for which it was probable, at acquisition, that all contractually required payments would not be collected. The following table displays the outstanding unpaid principal balance, accrued interest receivable and accrual status of loans acquired with credit impairment as of June 30, 2016 and 2015 : As of June 30, 2016 2015 Outstanding balance $ 31,979 $ 35,555 Carrying value Loans on accrual status 20,140 22,293 Total carrying value $ 20,140 $ 22,293 The following table summarizes changes in the accretable yield for loans acquired credit impaired for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Beginning balance $ 6,678 $ 6,980 $ 6,713 $ 5,781 Accretion income (615 ) (807 ) (1,229 ) (1,355 ) Reductions due to exit events (158 ) — (305 ) (396 ) Reclassifications from nonaccretable differences — 1,309 726 3,452 Ending balance $ 5,905 $ 7,482 $ 5,905 $ 7,482 Acquired loans that met the criteria for nonaccrual of interest prior to acquisition were considered performing upon acquisition. If interest on non-accrual loans had been accrued, such income would have been approximately $ 821 and $ 875 for the three months ended June 30, 2016 and 2015 , respectively, and approximately $1,690 and $1,613 for the six months ended June 30, 2016 and 2015 respectively. The Company considers impaired loans to include all originated and acquired loans, except consumer loans, that are risk rated as doubtful, or have been placed on non-accrual status or renegotiated in troubled debt restructurings. The following tables present information on the Company’s recorded investment in impaired loans as of dates indicated: As of June 30, 2016 Unpaid Total Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Real estate: Commercial $ 57,833 $ 22,624 $ 22,740 $ 45,364 $ 6,273 Construction: Land acquisition & development 13,358 5,267 1,692 6,959 898 Residential 981 272 — 272 — Commercial 2,037 324 1,464 1,788 872 Total construction loans 16,376 5,863 3,156 9,019 1,770 Residential 5,399 2,835 1,131 3,966 134 Agricultural 6,441 5,662 193 5,855 7 Total real estate loans 86,049 36,984 27,220 64,204 8,184 Commercial 38,622 13,466 20,040 33,506 10,588 Agricultural 961 294 480 774 81 Total $ 125,632 $ 50,744 $ 47,740 $ 98,484 $ 18,853 As of December 31, 2015 Unpaid Total Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Real estate: Commercial $ 58,179 $ 27,882 $ 17,614 $ 45,496 $ 3,401 Construction: Land acquisition & development 15,503 7,245 778 8,023 282 Residential 992 293 — 293 — Commercial 1,264 340 739 1,079 739 Total construction loans 17,759 7,878 1,517 9,395 1,021 Residential 7,073 3,547 2,317 5,864 367 Agricultural 6,434 5,563 198 5,761 5 Total real estate loans 89,445 44,870 21,646 66,516 4,794 Commercial 29,593 10,744 13,727 24,471 6,487 Agricultural 1,349 622 356 978 294 Total $ 120,387 $ 56,236 $ 35,729 $ 91,965 $ 11,575 The following table presents the average recorded investment in and income recognized on impaired loans for the periods indicated: Three Months Ended June 30, 2016 2015 Average Recorded Investment Income Recognized Average Recorded Investment Income Recognized Real estate: Commercial $ 34,576 $ 105 $ 39,513 $ 211 Construction: Land acquisition & development 7,096 12 8,664 12 Residential 277 — 338 — Commercial 1,421 2 3,492 — Total construction loans 8,794 14 12,494 12 Residential 3,067 2 3,014 1 Agricultural 5,857 — 8,572 13 Total real estate loans 52,294 121 63,593 237 Commercial 28,074 41 21,841 112 Agricultural 753 — 1,004 8 Total $ 81,121 $ 162 $ 86,438 $ 357 Six Months Ended June 30, 2016 2015 Average Recorded Investment Income Recognized Average Recorded Investment Income Recognized Real estate: Commercial $ 36,342 $ 141 $ 40,652 $ 361 Construction: Land acquisition & development 7,277 19 8,720 22 Residential 282 — 302 — Commercial 1,433 2 3,133 2 Total construction loans 8,992 21 12,155 24 Residential 4,138 3 2,719 2 Agricultural 5,671 1 8,666 35 Total real estate loans 55,143 166 64,192 422 Commercial 28,133 56 17,874 120 Agricultural 846 — 857 13 Total $ 84,122 $ 222 $ 82,923 $ 555 The amount of interest income recognized by the Company within the period that the loans were impaired was primarily related to loans modified in a troubled debt restructuring that remained on accrual status. Interest payments received on non-accrual impaired loans are applied to principal. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. If interest on impaired loans had been accrued, interest income on impaired loans would have been approximately $ 964 and $ 1,045 for the three months ended June 30, 2016 and 2015 , respectively, and approximately $2,020 and $2,011 for the six months ended June 30, 2016 and 2015, respectively. Collateralized impaired loans are generally recorded at the fair value of the underlying collateral using discounted cash flows, independent appraisals and management estimates based upon current market conditions. For loans measured under the present value of cash flows method, the change in present value attributable to the passage of time, if applicable, is recognized in the provision for loan losses and thus no interest income is recognized. Modifications of performing loans are made in the ordinary course of business and are completed on a case-by-case basis as negotiated with the borrower. Loan modifications typically include interest rate concessions, interest only periods of less than twelve months, short-term payment deferrals and extension of amortization periods to provide payment relief. A loan modification is considered a troubled debt restructuring if the borrower is experiencing financial difficulties and the Company, for economic or legal reasons, grants a concession to the borrower that it would not otherwise consider. Certain troubled debt restructurings are on non-accrual status at the time of restructuring and are typically returned to accrual status after considering the borrower's sustained repayment performance in accordance with the restructuring agreement for a period of at least six months and management is reasonably assured of future performance. If the troubled debt restructuring meets these performance criteria and the interest rate granted at the modification is equal to or greater than the rate that the Company was willing to accept at the time of the restructuring for a new loan with comparable risk, then the loan will return to performing status and the accrual of interest will resume. The Company had loans renegotiated in troubled debt restructurings of $ 44,957 as of June 30, 2016 , of which $ 28,549 were included in non-accrual loans and $ 16,408 were on accrual status. The Company had loans renegotiated in troubled debt restructurings of $ 40,330 as of December 31, 2015 , of which $ 24,911 were included in non-accrual loans and $ 15,419 were on accrual status. The following table presents information on the Company's troubled debt restructurings that occurred during the three and six months ended June 30, 2016 : Number of Notes Type of Concession Principal Balance at Restructure Date Three Months Ended June 30, 2016 Interest only period Extension of terms or maturity Interest rate adjustment Other (1) Commercial real estate 4 $ 113 $ 121 $ — $ 250 $ 484 Commercial 10 4,240 947 46 2,805 8,038 Total loans restructured during period 14 $ 4,353 $ 1,068 $ 46 $ 3,055 $ 8,522 Number of Notes Type of Concession Principal Balance at Restructure Date Six Months Ended June 30, 2016 Interest only period Extension of terms or maturity Interest rate adjustment Other (1) Commercial real estate 7 $ 689 $ 325 $ — $ 250 $ 1,264 Commercial 10 4,240 947 46 2,805 8,038 Total loans restructured during period 17 $ 4,929 $ 1,272 $ 46 $ 3,055 $ 9,302 (1) Other includes concessions that reduce or defer payments for a specified period of time and/or do not fit into other designated categories. For troubled debt restructurings that were on non-accrual status or otherwise deemed impaired before the modification, a specific reserve may already be recorded. In periods subsequent to modification, the Company continues to evaluate all troubled debt restructurings for possible impairment and recognizes impairment through the allowance. Additionally these loans continue to work their way through the credit cycle through charge-off, pay-off or foreclosure. Financial effects of modifications of troubled debt restructurings may include principal loan forgiveness or other charge-offs directly related to the restructuring. The Company had no charge-offs directly related to modifying troubled debt restructurings during the three and six months ended June 30, 2016 or 2015 . The following table presents information on the Company's troubled debt restructurings during the previous 12 months for which there was a payment default during the three and six months ended June 30, 2016 . The Company considers a payment default to occur on troubled debt restructurings when the loan is 90 days or more past due or was placed on non-accrual status after the modification. Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Number of Notes Balance Number of Notes Balance Commercial real estate — $ — 1 $ 203 Total — $ — 1 $ 203 At June 30, 2016 , there were no material commitments to lend additional funds to borrowers whose existing loans have been renegotiated or are classified as non-accrual. As part of the on-going and continuous monitoring of the credit quality of the Company’s loan portfolio, management tracks internally assigned risk classifications of loans. The Company adheres to a Uniform Classification System developed jointly by the various bank regulatory agencies to internally risk rate loans. The Uniform Classification System defines three broad categories of criticized assets, which the Company uses as credit quality indicators: Other Assets Especially Mentioned — includes loans that exhibit weaknesses in financial condition, loan structure or documentation, which if not promptly corrected, may lead to the development of abnormal risk elements. Substandard — includes loans that are inadequately protected by the current sound worth and paying capacity of the borrower. Although the primary source of repayment for a substandard loan is not currently sufficient, collateral or other sources of repayment are sufficient to satisfy the debt. Continuance of a substandard loan is not warranted unless positive steps are taken to improve the worthiness of the credit. Doubtful — includes loans that exhibit pronounced weaknesses to a point where collection or liquidation in full, on the basis of currently existing facts, conditions and values, is highly questionable and improbable. Doubtful loans are required to be placed on non-accrual status and are assigned specific loss exposure. Company management undertakes the same process for assigning risk ratings to acquired loans as it does for originated loans. Acquired loans rated as substandard or lower or that were on non-accrual status or designated as troubled debt restructurings at the time of acquisition are deemed to be acquired credit impaired loans accounted for under ASC Topic 310-30, regardless of whether they are classified as performing or non-performing loans. The following tables present the Company’s recorded investment in criticized loans by class and credit quality indicator based on the most recent analysis performed as of the dates indicated: As of June 30, 2016 Other Assets Especially Mentioned Substandard Doubtful Total Criticized Loans Real estate: Commercial $ 73,383 $ 87,756 $ 18,351 $ 179,490 Construction: Land acquisition & development 12,843 9,462 1,709 24,014 Residential 1,835 754 — 2,589 Commercial — 4,104 1,481 5,585 Total construction loans 14,678 14,320 3,190 32,188 Residential 6,885 9,862 517 17,264 Agricultural 6,459 21,756 — 28,215 Total real estate loans 101,405 133,694 22,058 257,157 Consumer: Indirect consumer 760 1,159 130 2,049 Other consumer 1,006 776 192 1,974 Total consumer loans 1,766 1,935 322 4,023 Commercial 33,934 33,771 18,435 86,140 Agricultural 5,455 6,621 529 12,605 Total $ 142,560 $ 176,021 $ 41,344 $ 359,925 As of December 31, 2015 Other Assets Especially Mentioned Substandard Doubtful Total Criticized Loans Real estate: Commercial $ 61,787 $ 84,556 $ 10,609 $ 156,952 Construction: Land acquisition & development 16,593 12,482 591 29,666 Residential 1,640 1,886 — 3,526 Commercial 166 323 756 1,245 Total construction loans 18,399 14,691 1,347 34,437 Residential 4,453 9,661 2,540 16,654 Agricultural 6,114 16,529 — 22,643 Total real estate loans 90,753 125,437 14,496 230,686 Consumer: Indirect consumer 644 1,131 154 1,929 Other consumer 651 1,130 198 1,979 Total consumer loans 1,295 2,261 352 3,908 Commercial 32,975 27,982 15,085 76,042 Agricultural 2,247 7,105 417 9,769 Total $ 127,270 $ 162,785 $ 30,350 $ 320,405 The Company maintains a credit review function, which is independent of the credit approval process, to assess assigned internal risk classifications and monitor compliance with internal lending policies and procedures. Written action plans with firm target dates for resolution of identified problems are maintained and reviewed on a quarterly basis for all categories of criticized loans. |
Allowance For Loan Losses
Allowance For Loan Losses | 6 Months Ended |
Jun. 30, 2016 | |
Receivables [Abstract] | |
Allowance For Loan Losses | The following tables present a summary of changes in the allowance for loan losses by portfolio segment for the periods indicated: Three Months Ended June 30, 2016 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Beginning balance $ 36,652 $ 5,256 $ 36,252 $ 1,764 $ — $ 79,924 Provision charged to operating expense (4,059 ) 2,123 4,313 173 — 2,550 Less loans charged-off (523 ) (1,712 ) (1,018 ) (188 ) — (3,441 ) Add back recoveries of loans previously charged-off 211 648 448 — — 1,307 Ending balance $ 32,281 $ 6,315 $ 39,995 $ 1,749 $ — $ 80,340 Six Months Ended June 30, 2016 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Beginning balance $ 52,296 $ 5,144 $ 18,775 $ 602 $ — $ 76,817 Provision charged to operating expense (20,140 ) 3,352 22,003 1,335 — 6,550 Less loans charged-off (2,445 ) (3,604 ) (1,506 ) (188 ) — (7,743 ) Add back recoveries of loans previously charged-off 2,570 1,423 723 — — 4,716 Ending balance $ 32,281 $ 6,315 $ 39,995 $ 1,749 $ — $ 80,340 As of June 30, 2016 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Loans individually evaluated for impairment $ 8,184 $ — $ 10,588 $ 81 $ — $ 18,853 Loans collectively evaluated for impairment 24,097 6,315 29,407 1,668 — 61,487 Allowance for loan losses $ 32,281 $ 6,315 $ 39,995 $ 1,749 $ — $ 80,340 Total loans: Individually evaluated for impairment $ 64,204 $ — $ 33,506 $ 774 $ — $ 98,484 Collectively evaluated for impairment 3,400,311 907,174 791,456 139,118 3,646 5,241,705 Total loans $ 3,464,515 $ 907,174 $ 824,962 $ 139,892 $ 3,646 $ 5,340,189 Three Months Ended June 30, 2015 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Beginning balance $ 53,659 $ 5,499 $ 15,196 $ 982 $ — $ 75,336 Provision charged to operating expense 461 646 224 9 — 1,340 Less loans charged-off (610 ) (837 ) (61 ) — — (1,508 ) Add back recoveries of loans previously charged-off 425 520 438 1 — 1,384 Ending balance $ 53,935 $ 5,828 $ 15,797 $ 992 $ — $ 76,552 Six Months Ended June 30, 2015 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Beginning balance $ 53,884 $ 5,035 $ 14,307 $ 974 $ — $ 74,200 Provision charged to operating expense (570 ) 1,771 1,217 17 — 2,435 Less loans charged-off (795 ) (2,138 ) (435 ) — — (3,368 ) Add back recoveries of loans previously charged-off 1,416 1,160 708 1 — 3,285 Ending balance $ 53,935 $ 5,828 $ 15,797 $ 992 $ — $ 76,552 As of December 31, 2015 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Loans individually evaluated for impairment $ 4,794 $ — $ 6,487 $ 294 $ — $ 11,575 Loans collectively evaluated for impairment 47,502 5,144 12,288 308 — 65,242 Allowance for loan losses $ 52,296 $ 5,144 $ 18,775 $ 602 $ — $ 76,817 Total loans: Individually evaluated for impairment $ 66,516 $ — $ 24,471 $ 978 $ — $ 91,965 Collectively evaluated for impairment 3,346,546 844,353 767,945 141,173 1,339 5,101,356 Total loans $ 3,413,062 $ 844,353 $ 792,416 $ 142,151 $ 1,339 $ 5,193,321 The Company performs a quarterly assessment of the adequacy of its allowance for loan losses in accordance with generally accepted accounting principles. The methodology used to assess the adequacy is consistently applied to the Company's loan portfolio and consists of three elements: (1) specific valuation allowances based on probable losses on impaired loans; (2) historical valuation allowances based on loan loss experience for similar loans with similar characteristics and trends; and (3) general valuation allowances determined based on changes in the nature of the loan portfolio, overall portfolio quality, industry concentrations, delinquency trends, general economic conditions and other qualitative risk factors both internal and external to the Company. Specific allowances are established for loans where management has determined that probability of a loss exists by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies and any relevant qualitative or economic factors impacting the loan. Historical valuation allowances are determined by applying percentage loss factors to the credit exposures from outstanding loans. For commercial, agricultural and real estate loans, loss factors are applied based on the internal risk classifications of these loans. For consumer loans, loss factors are applied on a portfolio basis. For commercial, agriculture and real estate loans, loss factor percentages are based on a migration analysis of our historical loss experience, designed to account for credit deterioration. For consumer loans, loss factor percentages are based on a one-year loss history. General valuation allowances are determined by evaluating, on a quarterly basis, changes in the nature and volume of the loan portfolio, overall portfolio quality, industry concentrations, current economic and regulatory conditions and the estimated impact of these factors on historical loss rates. An allowance for loan losses is established for loans acquired credit impaired and for which the Company projects a decrease in the expected cash flows in periods subsequent to the acquisition of such loans. As of June 30, 2016 and December 31, 2015 , the Company's allowance for loan losses included $387 and $382 , respectively, related to loans acquired credit impaired. |
OREO
OREO | 6 Months Ended |
Jun. 30, 2016 | |
Repossessed Assets [Abstract] | |
Other Real Estate Owned | Other Real Estate Owned Information with respect to the Company's other real estate owned follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Beginning balance $ 9,257 $ 15,134 $ 6,254 $ 13,554 Additions 792 1,139 4,019 4,396 Valuation adjustments (586 ) — (603 ) (106 ) Dispositions (1,555 ) (4,500 ) (1,762 ) (6,071 ) Ending balance $ 7,908 $ 11,773 $ 7,908 $ 11,773 Foreclosed residential real estate properties of $ 3,213 and $1,686 were included in other real estate owned as of June 30, 2016 and December 31, 2015, respectively. The Company did not have any consumer mortgage loans collateralized by residential real estate property that were in the process of foreclosure as of June 30, 2016 or December 31, 2015. |
Derivatives and Hedging
Derivatives and Hedging | 6 Months Ended |
Jun. 30, 2016 | |
Derivative [Line Items] | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | June 30, 2016 December 31, 2015 Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value Derivative Assets (included in other assets on balance sheet): Derivatives designated as hedges: Interest rate swap contracts $ — $ — $ 100,000 $ 165 Non-hedging interest rate derivatives: Interest rate swap contracts 20,913 1,719 9,369 788 Interest rate lock commitments 98,401 2,801 — — Total derivative assets $ 119,314 $ 4,520 $ 109,369 $ 953 Derivative Liabilities (included in accounts payable and accrued expenses on balance sheet): Derivatives designated as hedges: Interest rate swap contracts $ 100,000 $ 2,837 $ — $ — Non-hedging interest rate derivatives: Interest rate swap contracts 20,913 1,840 9,369 829 Forward loan sales contracts 166,834 1,583 — — Total derivative liabilities $ 287,747 $ 6,260 $ 9,369 $ 829 |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivatives and Hedging Activities Interest Rate Swap Contracts Designated as Hedges. For asset and liability management purposes, the Company has entered into interest rate swap contracts to hedge against changes in forecasted cash flows due to interest rate exposures. The swap agreements are derivative instruments and convert a portion of the Company’s forecasted variable rate debt to a fixed rate (i.e., cash flow hedge) over the payment term of the interest rate swap. The effective portion of the gain or loss on cash flow hedging instruments is initially reported as a component of other comprehensive income and subsequently reclassified into earnings in the same period during which the transaction affects earnings. The ineffective portion of the gain or loss on derivative instruments, if any, is recognized in earnings. The Company does not enter into interest rate swap agreements for trading or speculative purposes. On September 22, 2015 , the Company entered into an interest rate swap contract with a notional amount of $100,000 that was designated as a cash flow hedge. Under the terms of the interest rate swap contract, the Company pays a fixed interest rate of 1.94% and the counterparty pays to the Company a variable interest rate equal to the three-month LIBOR. No cash is exchanged until the effective date, which begins on September 15, 2017 and ends on September 15, 2020 . The Company designated the interest payments related to Federal Home Loan Bank borrowings as the cash flow hedge. The hedge was fully effective during the current period. As such, no amount of ineffectiveness was included in the Company's income statement for the three or six months ended June 30, 2016 . The Company expects the hedge to remain highly effective during the remaining term of the interest rate swap. Non-Hedging Interest Rate Swap Contracts. The Company enters into certain interest rate swap contracts that are not designated as hedging instruments. These derivative contracts relate to transactions in which the Company enters into an interest rate swap with a customer while at the same time entering into an offsetting interest rate swap with a third party financial institution. Because the Company acts as an intermediary for the customer, changes in the fair value of the underlying derivative contracts for the most part offset each other and do not significantly impact the Company's results of operations. Interest Rate Lock Commitments and Forward Loan Sales Contracts. In the normal course of business, the Company enters into interest rate lock commitments to finance residential mortgage loans that are not designated as accounting hedges. These commitments, which contain fixed expiration dates, offer the borrower an interest rate guarantee provided the loan meets underwriting guidelines and closes within the timeframe established by the Company. Interest rate risk arises on these commitments and subsequently closed loans if interest rates change between the time of the interest rate lock and the delivery of the loan to the investor. Loan commitments related to residential mortgage loans intended to be sold are considered derivatives and are marked to market through earnings. In addition to the effects of the change in market interest rate, the fair value measurement of the derivative also contemplates the expected cash flows to be received from the counterparty from the future sale of the loan. The Company sells residential mortgage loans on either a best efforts or mandatory delivery basis. The Company mitigates the effect of the interest rate risk inherent in providing interest rate lock commitments by entering into forward loan sales contracts. During the interest rate lock commitment period, these forward loan sales contracts are marked to market through earnings and are not designated as accounting hedges. Exclusive of the fair value component associated with the projected cash flows from the loan delivery to the investor, the changes in fair value related to movements in market rates of the interest rate lock commitments and the forward loan sales contracts generally move in opposite directions, and the net impact of changes in these valuations on net income during the loan commitment period is generally inconsequential. When the loan is funded to the borrower, the interest rate lock commitment derivative expires and the Company records a loan held for sale. The forward loan sales contract acts as a hedge against the variability in cash to be received from the loan sale. The changes in measurement of the estimated fair values of the interest rate lock commitments and forward loan sales contracts are included in mortgage banking revenues in the accompanying consolidated statements of income. The notional amounts and estimated fair values of the Company's derivatives are presented in the following table. Fair value estimates are obtained from third parties and are based on pricing models. June 30, 2016 December 31, 2015 Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value Derivative Assets (included in other assets on balance sheet): Derivatives designated as hedges: Interest rate swap contracts $ — $ — $ 100,000 $ 165 Non-hedging interest rate derivatives: Interest rate swap contracts 20,913 1,719 9,369 788 Interest rate lock commitments 98,401 2,801 — — Total derivative assets $ 119,314 $ 4,520 $ 109,369 $ 953 Derivative Liabilities (included in accounts payable and accrued expenses on balance sheet): Derivatives designated as hedges: Interest rate swap contracts $ 100,000 $ 2,837 $ — $ — Non-hedging interest rate derivatives: Interest rate swap contracts 20,913 1,840 9,369 829 Forward loan sales contracts 166,834 1,583 — — Total derivative liabilities $ 287,747 $ 6,260 $ 9,369 $ 829 The following table presents the pre-tax gains or losses related to derivative contracts that were recorded in accumulated other comprehensive income and other non-interest income in the Company's statements of income for the periods indicated: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Derivatives designated as hedges: Amount of loss recognized in other comprehensive income (effective portion) $ (804 ) $ — $ (3,002 ) $ — Non-hedging interest rate derivatives: Amount of loss recognized in other non-interest income (50 ) (10 ) (79 ) (17 ) Amount of net fee income recognized in other non-interest income 245 — 245 — Amount of gains recognized in mortgage banking revenues 523 — 1,218 — |
Capital Stock
Capital Stock | 6 Months Ended |
Jun. 30, 2016 | |
Equity [Abstract] | |
Common Stock | Capital Stock The Company had 21,131,759 shares of Class A common stock and 23,614,455 shares of Class B common stock outstanding as of June 30, 2016 . The Company had 21,698,594 shares of Class A common stock and 23,729,631 shares of Class B common stock outstanding as of December 31, 2015 . During the six months ended June 30, 2016 , the Company repurchased and retired 975,877 shares of its Class A common stock in open market transactions at an aggregate purchase price of $ 25,525 . During the six months ended June 30, 2015 , the Company repurchased and retired 565,875 shares of its Class A common stock in a privately negotiated transaction at an aggregate purchase price of $14,674 . All repurchases were made pursuant to stock repurchase programs approved by the Company's Board of Directors. Under the terms of the current stock repurchase program, the Company may repurchase up to an additional 24,123 shares of its Class A common stock. All other stock repurchases during the six months ended June 30, 2016 and 2015 were redemptions of vested restricted shares tendered in lieu of cash for payment of income tax withholding amounts by participants of the Company's equity compensation plans. |
Earnings per Common Share
Earnings per Common Share | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | Earnings per Common Share Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding during the period presented, excluding unvested restricted stock. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares determined for the basic earnings per share computation plus the dilutive effects of stock-based compensation using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share for the three and six month periods ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income $ 25,554 $ 22,222 $ 45,678 $ 43,202 Weighted average common shares outstanding for basic earnings per share computation 44,268,985 45,143,122 44,494,102 45,260,104 Dilutive effects of stock-based compensation 376,190 463,564 385,513 582,935 Weighted average common shares outstanding for diluted earnings per common share computation 44,645,175 45,606,686 44,879,615 45,843,039 Basic earnings per common share $ 0.58 $ 0.49 $ 1.03 $ 0.95 Diluted earnings per common share $ 0.57 $ 0.49 $ 1.02 $ 0.94 The Company had 221,322 and 166,362 shares of unvested restricted stock as of June 30, 2016 and 2015 , respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met. In addition, the Company had 96,726 shares of unvested time restricted stock outstanding as of June 30, 2016 that were not included in the computation of diluted earnings per common shares because their effect would be anti-dilutive. The Company had no anti-dilutive shares of unvested time restricted stock or stock options outstanding as of June 30, 2015 . |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Jun. 30, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Capital | Regulatory Capital On July 2, 2013, the Board of Governors of the Federal Reserve Bank issued a final rule implementing a revised regulatory capital framework for U.S. banks in accordance with the Basel III international accord, ("Basel III"). Basel III includes a more stringent definition of capital and introduces a new common equity tier 1, or CET1, capital requirement, sets forth a comprehensive methodology for calculating risk-weighted assets, introduces a conservation buffer and sets out minimum capital ratios and overall capital adequacy standards. Under Basel III, certain deductions and adjustments to regulatory capital began to phase in starting January 1, 2015 and will be fully implemented on January 1, 2018. The capital conservation buffer required under Basel III began to phase in starting January 1, 2016 and will be fully implemented on January 1, 2019. As of June 30, 2016 and December 31, 2015 , the Company exceeded all capital adequacy requirements to which it is subject. Actual capital amounts and ratios for the Company and its bank subsidiary, as of June 30, 2016 and December 31, 2015 are presented in the following tables: Actual Adequately Capitalized Basel III Phase-In Schedule Adequately Capitalized Basel III Fully Phased-In Well Capitalized (1) Amount Ratio Amount Ratio Amount Ratio Amount Ratio June 30, 2016 Total risk-based capital: Consolidated $ 950,217 15.0 % $ 545,247 8.6 % $ 663,779 10.5 % $ 632,170 10.0 % FIB 877,466 13.9 543,128 8.6 661,199 10.5 629,713 10.0 Tier 1 risk-based capital: Consolidated 867,179 13.7 418,813 6.6 537,345 8.5 505,736 8.0 FIB 798,732 12.7 417,185 6.6 535,256 8.5 503,770 8.0 Common equity tier 1 risk-based capital: Consolidated 787,179 12.5 323,987 5.1 442,519 7.0 410,911 6.5 FIB 798,732 12.7 322,728 5.1 440,799 7.0 409,314 6.5 Leverage capital ratio: Consolidated 867,179 10.4 335,116 4.0 335,116 4.0 418,895 5.0 FIB 798,732 9.6 333,819 4.0 333,819 4.0 417,274 5.0 Actual Adequately Capitalized Basel III Phase-In Schedule Adequately Capitalized Basel III Fully Phased-In Well Capitalized (1) Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2015 Total risk-based capital: Consolidated $ 946,156 15.4 % $ 492,692 8.0 % $ 646,658 10.5 % $ 615,865 10.0 % FIB 882,504 14.4 490,866 8.0 644,262 10.5 613,582 10.0 Tier 1 risk-based capital: Consolidated 861,339 14.0 369,519 6.0 523,485 8.5 $ 492,692 8.0 FIB 805,805 13.1 368,149 6.0 521,545 8.5 490,866 8.0 Common equity tier 1 risk-based capital: Consolidated 781,339 12.7 277,139 4.5 431,105 7.0 $ 400,312 6.5 FIB 805,805 13.1 276,112 4.5 429,508 7.0 398,829 6.5 Leverage capital ratio: Consolidated 861,339 10.1 340,480 4.0 340,480 4.0 $ 425,600 5.0 FIB 805,805 9.5 339,316 4.0 339,316 4.0 424,145 5.0 (1) The ratios for the well capitalized requirement are only applicable to FIB. However, the Company manages its capital position as if the requirement applies to the consolidated entity and has presented the ratios as if they also applied on a consolidated basis. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies In the normal course of business, the Company is involved in various other claims and litigation. In the opinion of management, following consultation with legal counsel, the ultimate liability or disposition thereof of all other claims and litigation is not expected to have a material adverse effect on the consolidated financial condition, results of operations or liquidity of the Company. As of June 30, 2016 , the Company had a commitment under a forward starting interest rate swap contract with a notional amount of $ 100,000 . For additional information about the forward starting interest rate swap contract, see Note 7 — Derivatives and Hedging Activity. As of June 30, 2016 , the Company had commitments under construction contracts of $131 . Residential mortgage loans sold to investors in the secondary market are sold with varying recourse provisions. Essentially all of the loan sales agreements require the repurchase of a mortgage loan by the seller in situations such as breach of representation, warranty or covenant; untimely document delivery; false or misleading statements; failure to obtain certain certificates or insurance; unmarketability; etc. Certain loan sales agreements contain repurchase requirements based on payment-related defects that are defined in terms of the number of days or months since the purchase, the sequence number of the payment, and/or the number of days of payment delinquency. Based on the specific terms stated in the agreements, the Company had $ 3,055 of sold residential mortgage loans with recourse provisions still in effect as of June 30, 2016 . |
Financial Instruments with Off-
Financial Instruments with Off-Balance Sheet Risk | 6 Months Ended |
Jun. 30, 2016 | |
Financial Instruments with Off-Balance Sheet Risk [Abstract] | |
Financial Instruments with Off-Balance Sheet Risk | Financial Instruments with Off-Balance Sheet Risk The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the commitment contract. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. At June 30, 2016 , commitments to extend credit to existing and new borrowers approximated $ 1,597,683 , which included $ 569,171 on unused credit card lines and $ 404,152 with commitment maturities beyond one year. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. At June 30, 2016 , the Company had outstanding standby letters of credit of $ 51,804 . The estimated fair value of the obligation undertaken by the Company in issuing the standby letters of credit is included in other liabilities in the Company’s consolidated balance sheet. |
Other Comprehensive Income
Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2016 | |
Equity [Abstract] | |
Other Comprehensive Income | Other Comprehensive Income/Loss The gross amounts of each component of other comprehensive income and the related tax effects are as follows: Pre-tax Tax Expense (Benefit) Net of Tax Three Months Ended June 30, 2016 2015 2016 2015 2016 2015 Investment securities available-for sale: Change in net unrealized gains during period $ 10,043 $ (9,196 ) $ 3,947 $ (3,618 ) $ 6,096 $ (5,578 ) Reclassification adjustment for net gains included in net income (108 ) (46 ) (42 ) (18 ) (66 ) (28 ) Change in unamortized loss on available- for-sale securities transferred into held-to- maturity 452 451 170 177 282 274 Unrealized loss on derivatives (804 ) — (305 ) — (499 ) — Defined benefits post-retirement benefit plan: Change in net actuarial loss 13 13 5 5 8 8 Total other comprehensive income (loss) $ 9,596 $ (8,778 ) $ 3,775 $ (3,454 ) $ 5,821 $ (5,324 ) Pre-tax Tax Expense (Benefit) Net of Tax Six Months Ended June 30, 2016 2015 2016 2015 2016 2015 Investment securities available-for sale: Change in net unrealized gains during period $ 18,671 $ 1,412 $ 7,322 $ 555 $ 11,349 $ 857 Reclassification adjustment for net gains included in net income (87 ) (52 ) (34 ) (20 ) (53 ) (32 ) Change in unamortized loss on available- for-sale securities transferred into held-to- maturity 904 902 340 355 564 547 Unrealized loss on derivatives (3,002 ) — (1,141 ) — (1,861 ) — Defined benefits post-retirement benefit plan: Change in net actuarial loss 28 28 11 11 17 17 Total other comprehensive income $ 16,514 $ 2,290 $ 6,498 $ 901 $ 10,016 $ 1,389 The components of accumulated other comprehensive income, net of related tax effects, are as follows: June 30, December 31, Net unrealized gain on investment securities available-for-sale $ 12,544 $ 684 Net unrealized gain (loss) on derivatives (1,761 ) 100 Net actuarial loss on defined benefit post-retirement benefit plans (361 ) (378 ) Net accumulated other comprehensive income $ 10,422 $ 406 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There is a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs that may be used to measure fair value are as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities • Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of of assets or liabilities The methodologies used by the Company in determining the fair values of each class of financial instruments are based primarily on the use of independent, market-based data to reflect a value that would be reasonably expected in an orderly transaction between market participants at the measurement date, and therefore are classified within Level 2 of the valuation hierarchy. There were no transfers between fair value hierarchy levels during the three or six months ended June 30, 2016 and 2015. Further details on the methods used to estimate the fair value of each class of financial instruments above are discussed below: Investment Securities Available-for-Sale . The Company obtains fair value measurements for investment securities from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the investment's terms and conditions, among other things. Vendors chosen by the Company are widely recognized vendors whose evaluations support the pricing functions of financial institutions, investment and mutual funds, and portfolio managers. If needed, a broker may be utilized to determine the reported fair value of investment securities. Loans Held for Sale. Fair value measurements for loans held for sale are obtained from an independent pricing service. The fair value measurements consider observable data that may include binding contracts or quotes or bids from third party investors as well as loan level pricing adjustments. Interest Rate Swap Contracts. Fair values for derivative interest rate swap contracts are based upon the estimated amounts to settle the contracts considering current interest rates and are calculated using discounted cash flows that are observable or that can be corroborated by observable market data. The inputs used to determine fair value include the 3 month LIBOR forward curve to estimate variable rate cash inflows and the federal funds effective swap rate to estimate the discount rate. The estimated variable rate cash inflows are compared to the fixed rate outflows and such difference is discounted to a present value to estimate the fair value of the interest rate swaps. The change in the value of derivative assets attributable to basis risk, or the risk that offsetting investments in a hedging strategy will not experience price changes in entirely opposite directions from each other, was not significant in the reported periods. The Company also obtains and compares the reasonableness of the pricing from an independent third party. Interest Rate Lock Commitments. Fair value measurements for interest rate lock commitments are obtained from an independent pricing service. The fair value measurements consider observable data that may include prices available from secondary market investors taking into consideration various characteristics of the loan, including the loan amount, interest rate, value of the servicing and loan to value ratio, among other things. Observable data is then adjusted to reflect changes in interest rates, the Company's estimated pull-through rate and estimated direct costs necessary to complete the commitment into a closed loan net of origination and processing fees collected from the borrower. Forward Loan Sales Contracts. The fair value measurements for forward loan sales contracts are obtained from an independent pricing service. The fair value measurements consider observable data that includes sales of similar loans. Deferred Compensation Plan Assets and Liabilities. The fair values of deferred compensation plan assets are based primarily on the use of independent, market-based data to reflect a value that would be reasonably expected in an orderly transaction between market participants at the measurement date. These investments are in the same funds and purchased in the same amounts as the participants’ selected investments, which represent the underlying liabilities to plan participants. Deferred compensation plan liabilities are recorded at amounts due to participants, based on the fair value of participants’ selected investments. Financial assets and financial liabilities measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using As of June 30, 2016 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investment securities available-for-sale: U.S. Treasury Notes $ 3,953 $ — $ 3,953 $ — Obligations of U.S. government agencies 453,405 — 453,405 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 1,044,597 — 1,044,597 — Private mortgage-backed securities 135 — 135 — Other investments 3,491 — 3,491 — Loans held for sale 73,053 — 73,053 — Derivative assets: Interest rate swap contracts 1,719 — 1,719 — Interest rate lock commitments 2,801 — 2,801 — Derivative liabilities: Interest rate swap contracts 4,676 — 4,676 — Forward loan sale contracts 1,583 — 1,583 — Deferred compensation plan assets 10,247 — 10,247 — Deferred compensation plan liabilities 10,247 — 10,247 — Fair Value Measurements at Reporting Date Using As of December 31, 2015 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investment securities available-for-sale: U.S. Treasury notes $ 3,911 $ — $ 3,911 $ — Obligations of U.S. government agencies 520,181 — 520,181 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 929,046 — 929,046 — Private mortgage-backed securities 156 — 156 — Other investments 3,546 — 3,546 — Derivative assets: Interest rate swap contracts 953 — 953 — Derivative liabilities Interest rate swap contracts 829 — 829 — Deferred compensation plan assets 10,149 — 10,149 — Deferred compensation plan liabilities 10,149 — 10,149 — Additionally, from time to time, certain assets are measured at fair value on a non-recurring basis. Adjustments to fair value generally result from the application of lower-of-cost-or-market accounting or write-downs of individual assets due to impairment. The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis: Fair Value Measurements at Reporting Date Using As of June 30, 2016 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 21,538 $ — $ — $ 21,538 Other real estate owned 1,369 — — 1,369 Long-lived assets to be disposed of by sale 1,506 — — 1,506 Fair Value Measurements at Reporting Date Using As of December 31, 2015 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 20,875 $ — $ — $ 20,875 Other real estate owned 1,789 — — 1,789 Long-lived assets to be disposed of by sale 1,506 — — 1,506 Impaired Loans. Collateralized impaired loans are reported at the fair value of the underlying collateral if repayment is expected solely from collateral. The impaired loans are reported at fair value through specific valuation allowance allocations. In addition, when it is determined that the fair value of an impaired loan is less than the recorded investment in the loan, the carrying value of the loan is adjusted to fair value through a charge to the allowance for loan losses. Collateral values are estimated using independent appraisals and management estimates of current market conditions. As of June 30, 2016 , certain impaired loans with a carrying value of $ 50,858 were reduced by specific valuation allowance allocations of $ 18,854 and partial loan charge-offs of $ 10,466 resulting in a reported fair value of $ 21,538 . As of December 31, 2015 , certain impaired loans with a carrying value of $ 42,679 were reduced by specific valuation allowance allocations of $ 11,575 and partial loan charge-offs of $ 10,229 resulting in a reported fair value of $ 20,875 . OREO. The fair values of OREO are estimated using independent appraisals and management estimates of current market conditions. Upon initial recognition, write-downs based on the foreclosed asset's fair value at foreclosure are reported through charges to the allowance for loan losses. Periodically, the fair value of foreclosed assets is remeasured with any subsequent write-downs charged to OREO expense in the period in which they are identified. Write-downs of $603 during the six months ended June 30, 2016 included $550 directly related to receipt of updated appraisals and $ 53 based on management estimates of the current fair value of properties. Write downs of $106 during the six months ended June 30, 2015 were based on management's estimate of the current fair value of the properties. Long-lived Assets to be Disposed of by Sale. Long-lived assets to be disposed of by sale are carried at the lower of carrying value or fair value less estimated costs to sell. The fair values of long-lived assets to be disposed of by sale are based upon observable market data and management estimates of current market conditions. As of June 30, 2016 and December 31, 2015 , the Company had long-lived assets to be disposed of by sale with carrying values aggregating $2,363 that were reduced by write-downs of $857 resulting in an aggregate fair value of $1,506 . The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair values: Fair Value As of June 30, 2016 December 31, 2015 Valuation Technique Unobservable Inputs Range (Weighted Average) Impaired loans $ 21,538 $ 20,875 Appraisal Appraisal adjustment 0% - 53% (38%) Other real estate owned 1,369 1,789 Appraisal Appraisal adjustment 2% - 96% (19%) Long-lived assets to be disposed of by sale 1,506 1,506 Appraisal Appraisal adjustment 0% - 9% (6%) The Company is required to disclose the fair value of financial instruments for which it is practical to estimate fair value. The methodologies for estimating the fair value of financial instruments that are measured at fair value on a recurring or non-recurring basis are discussed above. The methodologies for estimating the fair value of other financial instruments are discussed below. For financial instruments bearing a variable interest rate where no credit risk exists, it is presumed that recorded book values are reasonable estimates of fair value. Financial Assets. Carrying values of cash, cash equivalents and accrued interest receivable approximate fair values due to the liquid and/or short-term nature of these instruments. Fair values for investment securities held-to-maturity are obtained from an independent pricing service, which considers observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the investment’s terms and conditions, among other things. Fair values of fixed rate loans and variable rate loans that reprice on an infrequent basis are estimated by discounting future cash flows using current interest rates at which similar loans with similar terms would be made to borrowers of similar credit quality. Carrying values of variable rate loans that reprice frequently, and with no change in credit risk, approximate the fair values of these instruments. Financial Liabilities. The fair values of demand deposits, savings accounts, securities sold under repurchase agreements and accrued interest payable are the amounts payable on demand at the reporting date. The fair values of fixed-maturity certificates of deposit are estimated using external market rates currently offered for deposits with similar remaining maturities. The fair values of derivative liabilities are obtained from an independent pricing service, which considers observable data that may include the three-month LIBOR forward curve, the federal funds effective swap rate and cash flows, among other things. The carrying values of the interest bearing demand notes to the United States Treasury are deemed an approximation of fair values due to the frequent repayment and repricing at market rates. The fixed and floating rate subordinated debentures, floating rate subordinated term loan, notes payable to the FHLB, fixed rate subordinated term debt, and capital lease obligation are estimated by discounting future cash flows using current rates for advances with similar characteristics. Commitments to Extend Credit and Standby Letters of Credit. The fair value of commitments to extend credit and standby letters of credit, based on fees currently charged to enter into similar agreements, is not significant. The estimated fair values of financial instruments that are reported in the Company's consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value, are as follows: Fair Value Measurements at Reporting Date Using As of June 30, 2016 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 476,051 $ 476,051 $ 476,051 $ — $ — Investment securities available-for-sale 1,505,581 1,505,581 — 1,505,581 — Investment securities held-to-maturity 566,247 574,482 — 574,482 — Accrued interest receivable 27,448 27,448 — 27,448 — Mortgage servicing rights, net 16,038 23,970 — 23,970 — Loans held for sale 73,053 73,053 — 73,053 — Net loans held for investment 5,259,849 5,123,545 — 5,102,007 21,538 Derivative assets 4,520 4,520 — 4,520 — Deferred compensation plan assets 10,247 10,247 — 10,247 — Total financial assets $ 7,939,034 $ 7,818,897 $ 476,051 $ 7,321,308 $ 21,538 Financial liabilities: Total deposits, excluding time deposits $ 5,894,902 $ 5,894,902 $ 5,894,902 $ — $ — Time deposits 1,086,546 1,085,410 — 1,085,410 — Securities sold under repurchase agreements 466,399 466,399 — 466,399 — Other borrowed funds 15 15 — 15 — Accrued interest payable 5,647 5,647 — 5,647 — Long-term debt 27,928 27,535 — 27,535 — Subordinated debentures held by subsidiary trusts 82,477 71,173 — 71,173 — Derivative liabilities 6,260 6,260 — 6,260 — Deferred compensation plan liabilities 10,247 10,247 — 10,247 — Total financial liabilities $ 7,580,421 $ 7,567,588 $ 5,894,902 $ 1,672,686 $ — Fair Value Measurements at Reporting Date Using As of December 31, 2015 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 780,457 $ 780,457 $ 780,457 $ — $ — Investment securities available-for-sale 1,456,840 1,456,840 — 1,456,840 — Investment securities held-to-maturity 600,665 607,550 — 607,550 — Accrued interest receivable 27,729 27,729 — 27,729 — Mortgage servicing rights, net 15,621 31,011 — 31,011 — Net loans 5,169,379 5,128,705 — 5,107,830 20,875 Derivative assets 953 953 — 953 — Deferred compensation plan assets 10,149 10,149 — 10,149 — Total financial assets $ 8,061,793 $ 8,043,394 $ 780,457 $ 7,242,062 $ 20,875 Financial liabilities: Total deposits, excluding time deposits $ 5,957,345 $ 5,975,345 $ 5,975,345 $ — $ — Time deposits 1,131,592 1,137,289 — 1,137,289 — Securities sold under repurchase agreements 510,635 510,635 — 510,635 — Other borrowed funds 2 2 — 2 — Accrued interest payable 4,960 4,960 — 4,960 — Long-term debt 27,885 27,622 — 27,622 — Subordinated debentures held by subsidiary trusts 82,477 74,969 — 74,969 — Derivative liabilities 829 829 — 829 — Deferred compensation plan liabilities 10,149 10,149 — 10,149 — Total financial liabilities $ 7,725,874 $ 7,741,800 $ 5,975,345 $ 1,766,455 $ — |
Recent Authoritative Accounting
Recent Authoritative Accounting Guidance | 6 Months Ended |
Jun. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Authoritative Accounting Guidance | Recent Authoritative Accounting Guidance ASU 2014-09 "Revenue from Contracts with Customers." The amendments in Accounting Standards Update ("ASU") 2014-09 introduce a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. ASU 2015-14, “Revenue from Contracts with Customers (Topic 606) – Deferral of the Effective Date" was released in August of 2015 deferring the effective date of 2014-09 for all entities by one year until January 1, 2018. The Company is evaluating the new guidance to determine the impact it will have on its consolidated financial statements, results of operations or liquidity. ASU 2014-12 "Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period." ASU 2014-12 amends Accounting Standards Codification ("ASC") Topic 718, Compensation-Stock Compensation, to clarify that a performance target that affects the vesting of a share-based payment award and that could be achieved after the requisite service period should be treated as a performance condition that affects the vesting of the award. ASU 2014-12 further clarifies that the requisite service period ends when the employees can cease rendering service and still be eligible to vest in the award if the performance target is achieved. The Company adopted the amendments in ASU 2014-12 effective January 1, 2016. The adoption did not have a material impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2014-16 "Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity." The amendments in ASU 2014-16 clarify that an entity should consider all relevant terms and features-including the embedded derivative feature being evaluated for bifurcation-in evaluating the nature of the host contract within a hybrid financial instrument. The amendments further clarify that no single term or feature would necessarily determine the economic characteristics and risk of the host contract. Rather, the nature of the host contract depends upon the economic characteristics and risk of the entire hybrid financial instrument. The Company adopted the amendments in ASU 2014-16 effective January 1, 2016. The adoption did not have a material impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2015-02 "Amendments to the Consolidation Analysis." The amendments in ASU 2015-02 (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities, (ii) eliminate the presumption that a general partner should consolidate a limited partnership, (iii) affect the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships, and (iv) provide scope exceptions from consolidation guidance for reporting entities with interest in legal entities that are required to comply or operate in accordance with requirements of the Investment Company Act of 1940 for registered market funds. The Company adopted the amendments in ASU 2015-02 effective January 1, 2016. The adoption did not have a material impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2015-03 "Simplifying the Presentation of Debt Issuance Costs." The amendments in ASU 2015-03 require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, rather than as a deferred charge. The guidance in ASU 2015-03 did not address presentation or subsequent measurement of debt issues costs related to line-of-credit arrangements. ASU 2015-15, “Interest – Imputation of Interest (Subtopic 835-30) – Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting," addresses this gap. ASU 2015-15 adds that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company adopted the amendments in ASU 2015-03 and ASU 2015-15 effective January 1, 2016. The adoption did not have a material impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2015-05 "Intangibles-Goodwill and Other Internal-Use Software." The amendments in ASU 2015-05 provide guidance about whether a cloud computing arrangement includes a software license. Under the guidance in ASU 2015-05, if a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The Company adopted the amendments in ASU 2015-05 effective January 1, 2016. The adoption did not have a material impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2015-10 "Technical Corrections and Improvements." The amendments in ASU 2015-10 represent changes to clarify the codification, correct unintended application of guidance, or make minor improvements to the codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. The Company adopted the amendments in ASU 2015-10 effective January 1, 2016. The adoption did not have a material impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2015-16 "Business Combinations-Simplifying the Accounting for Measurement-Period Adjustments." The amendments in ASU 2015-16 eliminate the requirement to retrospectively account for adjustments made to provisional amounts recognized as part of a business combination. Under the amendments in ASU 2015-16, an acquirer must recognize adjustments to the provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in ASU 2015-16 require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The Company adopted the amendments in ASU 2015-16 effective January 1, 2016. The adoption did not have a material impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2016-01 "Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities." The amendments in ASU 2016-1, among other things, (i) require 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 available-for-sale investment securities. The amendments in ASU 2016-1 will be effective for the Company on January 1, 2018, and are not expected to have a significant impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2016-02 "Leases (Topic 842)." On February 25, 2016, the Financial Accounting Standards Board issued new lease accounting guidance in ASU No. 2016-02. Under the new guidance, lessees will be required to recognize a lease liability and a right of use asset for all leases (with the exception of short-term leases) at the commencement date of the lease and disclose key information about leasing arrangements. Accounting by lessors is largely unchanged. ASU 2016-02 will be effective for the Company on January 1, 2019 and will be applied using a modified retrospective approach. The Company is evaluating the new guidance to determine the impact ASU 2016-02 will have on its consolidated financial statements, results of operations or liquidity. ASU 2016-05 "Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships." The amendments in ASU 2016-05 clarify that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under ASC Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The amendments in ASU 2016-05 will be effective for the Company on January 1, 2017, and are not expected to have a significant impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2016-07 "Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting." The amendments in ASU 2016-07 eliminate the requirement that when an investment qualified for use of the equity method as a result of an increase in the level of ownership interest or degree of influence, an investor must adjust the investments, results of operations and retained earnings retroactively on a step-by-step basis as if the equity method had been in effect during all previous periods hat the investment had been held. The amendments in ASU 2016-07 also simplify the transition to the equity method of accounting by eliminating retroactive adjustment of the investment when an investment qualifies for use of the equity method, among other things. The amendments in ASU 2016-07 will be effective for the Company on January 1, 2017, and are not expected to have a significant impact on on the Company’s consolidated financial statements, results of operations or liquidity. ASU 2016-08 "Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)." The amendments in ASU 2016-08 were issued to clarify certain principal versus agent considerations within the implementation guidance of ASC Topic 606, “Revenue from Contracts with Customers.” The effective date and transition of ASU 2016-08 is the same as the effective date and transition of ASU 2014-09, Revenue from Contracts with Customers (Topic 606), as discussed above. The Company is continuing to evaluate the new guidance to determine the impact it will have on its consolidated financial statements, results of operations or liquidity. ASU 2016-09 "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." Under the amendments in ASU 2016-09, all excess tax benefits and tax deficiencies related to share-based payment awards should be recognized as income tax expense or benefit in the income statement during the period in which they occur. Previously, such amounts were recorded in the pool of excess tax benefits included in additional paid-in capital, if such pool was available. Because excess tax benefits are no longer recognized in additional paid-in capital, the assumed proceeds from applying the treasury stock method when computing earnings per share should exclude the amount of excess tax benefits that would have previously been recognized in additional paid-in capital. Additionally, excess tax benefits should be classified along with other income tax cash flows as an operating activity rather than a financing activity, as was previously the case. The amendments in ASU 2016-09 also provide that an entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest (current GAAP) or account for forfeitures when they occur. The amendments in ASU 2016-09 change the threshold to qualify for equity classification to permit withholding up to the maximum statutory tax rates (rather than the minimum as was previously the case) in the applicable jurisdictions. The amendments in ASU 2016-09 will be effective for the Company on January 1, 2017, and are not expected to have a significant impact on impact on the Company’s consolidated financial statements, results of operations or liquidity. ASU No. 2016-10 "Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing." The amendments in ASU 2016-10 were issued to clarify ASC Topic 606, “Revenue from Contracts with Customers” related to (i) identifying performance obligations; and (ii) the licensing implementation guidance. The effective date and transition of ASU 2016-10 is the same as the effective date and transition of ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” as discussed above. The Company is continuing to evaluate the new guidance to determine the impact it will have on its consolidated financial statements, results of operations and liquidity. ASU No. 2016-13 "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." The amendments in ASU 2016-13 require a financial asset or group of financial assets measured at amortized cost basis to be presented on a company's financial statements at the net amount expected to be collected based on historical experience, current conditions and reasonable and supportable forecasts. ASU 2016-13 requires a company's income statement to reflect the measurement of credit losses for newly recognized financial assets as well as the expected increases or decreases of expected credit losses that have taken place during the period. The amendments in ASU 2016-13 require that the allowance for credit losses for purchased financial assets with a more-than-insignificant amount of credit deterioration since origination be measured at amortized cost basis with the initial allowance for credit losses added to the purchase price rather than being reported as a credit loss expense. ASU 2016-13 also requires that credit losses relating to available-for-sale debt securities be recorded through an allowance for credit losses. The amendments in ASU 2016-13 are effective for the Company for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The amendments will be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period. A prospective transition approach is required for debt securities for which other-than-temporary impairment was recognized before the effective date. Amounts previously recognized in accumulated other comprehensive income as of the sate of adoption that relate to improvement in cash flows expected to be collected will continue to be accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after the date of adoption will be recorded in earnings when received. The Company is currently evaluating the new guidance to determine the impact it will have on its consolidated financial statements, results of operations and liquidity. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Subsequent events have been evaluated for potential recognition and disclosure through the date financial statements were filed with the Securities and Exchange Commission. On July 21, 2016 , the Company declared a quarterly dividend to common shareholders of $ 0.22 per share, to be paid on August 12, 2016 to shareholders of record as of August 1, 2016 . No other events requiring recognition or disclosure were identified. |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Approximate Fair Values of Investment Securities | The amortized cost and approximate fair values of investment securities are summarized as follows: June 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-Sale: U.S. Treasury notes $ 3,909 $ 44 $ — $ 3,953 Obligations of U.S. government agencies 450,544 2,882 (21 ) 453,405 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 1,022,462 22,252 (117 ) 1,044,597 Private mortgage-backed securities 136 1 (2 ) 135 Other investments 3,450 41 — 3,491 Total $ 1,480,501 $ 25,220 $ (140 ) $ 1,505,581 June 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Held-to-Maturity: State, county and municipal securities $ 164,334 $ 7,024 $ (1 ) $ 171,357 Corporate securities 51,262 580 — 51,842 Obligations of U.S. government agencies 19,737 483 — 20,220 U.S agency residential mortgage-backed securities & collateralized mortgage obligations 320,620 15,925 (5,777 ) 330,768 Other investments 294 1 — 295 Total $ 556,247 $ 24,013 $ (5,778 ) $ 574,482 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-Sale: U.S. Treasury notes $ 3,912 $ 3 $ (4 ) $ 3,911 Obligations of U.S. government agencies 521,079 712 (1,610 ) 520,181 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 921,699 9,448 (2,101 ) 929,046 Private mortgage-backed securities 156 1 (1 ) 156 Other investments 3,550 5 (9 ) 3,546 Total $ 1,450,396 $ 10,169 $ (3,725 ) $ 1,456,840 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Held-to-Maturity: State, county and municipal securities $ 173,785 $ 5,103 $ (227 ) $ 178,661 Corporate securities 50,046 64 (220 ) 49,890 Obligations of U.S. government agencies 19,738 — (102 ) 19,636 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 356,742 7,686 (5,420 ) 359,008 Other investments 354 1 — 355 Total $ 600,665 $ 12,854 $ (5,969 ) $ 607,550 |
Realized Gains (Losses) on Investments | Gross realized gains and losses from the disposition of investment securities are summarized in the following table: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Gross realized gains $ 108 $ 46 $ 165 $ 52 Gross realized losses — — (78 ) — |
Gross Unrealized Losses and Fair Values of Investment Securities | The following tables show the gross unrealized losses and fair values of investment securities, aggregated by investment category, and the length of time individual investment securities have been in a continuous unrealized loss position, as of June 30, 2016 and December 31, 2015 : Less than 12 Months 12 Months or More Total June 30, 2016 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-Sale: Obligations of U.S. government agencies $ — $ — $ 10,477 $ (21 ) $ 10,477 $ (21 ) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 11,097 (41 ) 18,609 (76 ) 29,706 (117 ) Private mortgage-backed securities — — 54 (2 ) 54 (2 ) Total $ 11,097 $ (41 ) $ 29,140 $ (99 ) $ 40,237 $ (140 ) Less than 12 Months 12 Months or More Total June 30, 2016 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Held-to-Maturity: State, county and municipal securities $ 625 $ — $ 2,233 $ (1 ) $ 2,858 $ (1 ) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 5,030 (2,631 ) 20,683 (3,146 ) 25,713 (5,777 ) Total $ 5,655 $ (2,631 ) $ 22,916 $ (3,147 ) $ 28,571 $ (5,778 ) Less than 12 Months 12 Months or More Total December 31, 2015 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Available-for-Sale: U.S. Treasury notes $ 2,092 $ (4 ) $ — $ — $ 2,092 $ (4 ) Obligations of U.S. government agencies 209,631 (1,077 ) 54,619 (533 ) 264,250 (1,610 ) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 343,875 (1,577 ) 28,010 (524 ) 371,885 (2,101 ) Private mortgage-backed securities — — 61 (1 ) 61 (1 ) Other investments 1,225 (9 ) — — 1,225 (9 ) Total $ 556,823 $ (2,667 ) $ 82,690 $ (1,058 ) $ 639,513 $ (3,725 ) Less than 12 Months 12 Months or More Total December 31, 2015 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Held-to-Maturity: State, county and municipal securities $ 10,182 $ (39 ) $ 9,476 $ (188 ) $ 19,658 $ (227 ) Obligations of U.S. government agencies 19,738 (102 ) — — 19,738 (102 ) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 67,295 (4,288 ) 69,539 (1,132 ) 136,834 (5,420 ) Corporate securities 31,135 (220 ) — — 31,135 (220 ) Total $ 128,350 $ (4,649 ) $ 79,015 $ (1,320 ) $ 207,365 $ (5,969 ) |
Maturities of Investment Securities | Maturities of investment securities at June 30, 2016 are shown below. Maturities of mortgage-backed securities have been adjusted to reflect shorter maturities based upon estimated prepayments of principal. All other investment securities maturities are shown at contractual maturity dates. Available-for-Sale Held-to-Maturity June 30, 2016 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Within one year $ 352,031 $ 358,337 $ 90,746 $ 94,029 After one year but within five years 1,049,286 1,066,900 311,641 319,471 After five years but within ten years 58,599 59,317 128,607 134,596 After ten years 20,585 21,027 25,253 26,386 Total $ 1,480,501 $ 1,505,581 $ 556,247 $ 574,482 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Receivables [Abstract] | |
Schedule of Loans by Class | June 30, December 31, Real estate loans: Commercial $ 1,816,813 $ 1,793,258 Construction: Land acquisition & development 218,650 224,066 Residential 113,944 111,763 Commercial 117,643 94,890 Total construction loans 450,237 430,719 Residential 1,030,593 1,032,851 Agricultural 166,872 156,234 Total real estate loans 3,464,515 3,413,062 Consumer: Indirect consumer 687,768 622,529 Other consumer 153,185 153,717 Credit card 66,221 68,107 Total consumer loans 907,174 844,353 Commercial 824,962 792,416 Agricultural 139,892 142,151 Other, including overdrafts 3,646 1,339 Loans held for investment 5,340,189 5,193,321 Mortgage loans held for sale 73,053 52,875 Total loans $ 5,413,242 $ 5,246,196 |
Schedule of Recorded Investment in Past Due Loans by Class | The following tables present the contractual aging of the Company’s recorded investment in past due loans by class as of the dates indicated: Total Loans 30 - 59 60 - 89 > 90 30 or More Days Days Days Days Current Non-accrual Total As of June 30, 2016 Past Due Past Due Past Due Past Due Loans Loans Loans Real estate Commercial $ 2,707 $ 336 $ 287 $ 3,330 $ 1,784,134 $ 29,349 $ 1,816,813 Construction: Land acquisition & development 305 205 69 579 212,210 5,861 218,650 Residential 619 — — 619 113,053 272 113,944 Commercial — — — — 115,975 1,668 117,643 Total construction loans 924 205 69 1,198 441,238 7,801 450,237 Residential 4,526 981 2,138 7,645 1,020,251 2,697 1,030,593 Agricultural 224 103 112 439 160,970 5,463 166,872 Total real estate loans 8,381 1,625 2,606 12,612 3,406,593 45,310 3,464,515 Consumer: Indirect consumer 5,503 1,823 304 7,630 679,558 580 687,768 Other consumer 823 170 35 1,028 151,764 393 153,185 Credit card 488 340 509 1,337 64,884 — 66,221 Total consumer loans 6,814 2,333 848 9,995 896,206 973 907,174 Commercial 4,268 806 592 5,666 792,012 27,284 824,962 Agricultural 578 243 97 918 138,230 744 139,892 Other, including overdrafts — — 311 311 3,335 — 3,646 Loans held for investment 20,041 5,007 4,454 29,502 5,236,376 74,311 5,340,189 Mortgage loans originated for sale — — — — 73,053 — 73,053 Total loans $ 20,041 $ 5,007 $ 4,454 $ 29,502 $ 5,309,429 $ 74,311 $ 5,413,242 Total Loans 30 - 59 60 - 89 > 90 30 or More Days Days Days Days Current Non-accrual Total As of December 31, 2015 Past Due Past Due Past Due Past Due Loans Loans Loans Real estate Commercial $ 6,051 $ 724 $ 418 $ 7,193 $ 1,762,294 $ 23,771 $ 1,793,258 Construction: Land acquisition & development 3,190 163 1,325 4,678 212,757 6,631 224,066 Residential 1,288 — — 1,288 110,182 293 111,763 Commercial 3,232 — — 3,232 90,703 955 94,890 Total construction loans 7,710 163 1,325 9,198 413,642 7,879 430,719 Residential 5,991 1,196 2,063 9,250 1,018,359 5,242 1,032,851 Agricultural 176 17 — 193 150,686 5,355 156,234 Total real estate loans 19,928 2,100 3,806 25,834 3,344,981 42,247 3,413,062 Consumer: Indirect consumer 6,675 1,089 210 7,974 614,029 526 622,529 Other consumer 1,312 331 34 1,677 151,381 659 153,717 Credit card 533 317 477 1,327 66,768 12 68,107 Total consumer loans 8,520 1,737 721 10,978 832,178 1,197 844,353 Commercial 8,493 1,060 699 10,252 759,851 22,313 792,416 Agricultural 879 152 62 1,093 140,430 628 142,151 Other, including overdrafts — — 314 314 1,025 — 1,339 Loans held for investment 37,820 5,049 5,602 48,471 5,078,465 66,385 5,193,321 Mortgage loans originated for sale — — — — 52,875 — 52,875 Total loans $ 37,820 $ 5,049 $ 5,602 $ 48,471 $ 5,131,340 $ 66,385 $ 5,246,196 |
Schedule of acquired loans with credit impairment | The following table displays the outstanding unpaid principal balance, accrued interest receivable and accrual status of loans acquired with credit impairment as of June 30, 2016 and 2015 : As of June 30, 2016 2015 Outstanding balance $ 31,979 $ 35,555 Carrying value Loans on accrual status 20,140 22,293 Total carrying value $ 20,140 $ 22,293 The following table summarizes changes in the accretable yield for loans acquired credit impaired for the three and six months ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Beginning balance $ 6,678 $ 6,980 $ 6,713 $ 5,781 Accretion income (615 ) (807 ) (1,229 ) (1,355 ) Reductions due to exit events (158 ) — (305 ) (396 ) Reclassifications from nonaccretable differences — 1,309 726 3,452 Ending balance $ 5,905 $ 7,482 $ 5,905 $ 7,482 |
Schedule of Recorded Investment in Impaired Loans | The following tables present information on the Company’s recorded investment in impaired loans as of dates indicated: As of June 30, 2016 Unpaid Total Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Real estate: Commercial $ 57,833 $ 22,624 $ 22,740 $ 45,364 $ 6,273 Construction: Land acquisition & development 13,358 5,267 1,692 6,959 898 Residential 981 272 — 272 — Commercial 2,037 324 1,464 1,788 872 Total construction loans 16,376 5,863 3,156 9,019 1,770 Residential 5,399 2,835 1,131 3,966 134 Agricultural 6,441 5,662 193 5,855 7 Total real estate loans 86,049 36,984 27,220 64,204 8,184 Commercial 38,622 13,466 20,040 33,506 10,588 Agricultural 961 294 480 774 81 Total $ 125,632 $ 50,744 $ 47,740 $ 98,484 $ 18,853 As of December 31, 2015 Unpaid Total Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Real estate: Commercial $ 58,179 $ 27,882 $ 17,614 $ 45,496 $ 3,401 Construction: Land acquisition & development 15,503 7,245 778 8,023 282 Residential 992 293 — 293 — Commercial 1,264 340 739 1,079 739 Total construction loans 17,759 7,878 1,517 9,395 1,021 Residential 7,073 3,547 2,317 5,864 367 Agricultural 6,434 5,563 198 5,761 5 Total real estate loans 89,445 44,870 21,646 66,516 4,794 Commercial 29,593 10,744 13,727 24,471 6,487 Agricultural 1,349 622 356 978 294 Total $ 120,387 $ 56,236 $ 35,729 $ 91,965 $ 11,575 The following table presents the average recorded investment in and income recognized on impaired loans for the periods indicated: Three Months Ended June 30, 2016 2015 Average Recorded Investment Income Recognized Average Recorded Investment Income Recognized Real estate: Commercial $ 34,576 $ 105 $ 39,513 $ 211 Construction: Land acquisition & development 7,096 12 8,664 12 Residential 277 — 338 — Commercial 1,421 2 3,492 — Total construction loans 8,794 14 12,494 12 Residential 3,067 2 3,014 1 Agricultural 5,857 — 8,572 13 Total real estate loans 52,294 121 63,593 237 Commercial 28,074 41 21,841 112 Agricultural 753 — 1,004 8 Total $ 81,121 $ 162 $ 86,438 $ 357 Six Months Ended June 30, 2016 2015 Average Recorded Investment Income Recognized Average Recorded Investment Income Recognized Real estate: Commercial $ 36,342 $ 141 $ 40,652 $ 361 Construction: Land acquisition & development 7,277 19 8,720 22 Residential 282 — 302 — Commercial 1,433 2 3,133 2 Total construction loans 8,992 21 12,155 24 Residential 4,138 3 2,719 2 Agricultural 5,671 1 8,666 35 Total real estate loans 55,143 166 64,192 422 Commercial 28,133 56 17,874 120 Agricultural 846 — 857 13 Total $ 84,122 $ 222 $ 82,923 $ 555 |
Schedule of Loans Renegotiated in Troubled Debt Restructurings | Number of Notes Type of Concession Principal Balance at Restructure Date Three Months Ended June 30, 2016 Interest only period Extension of terms or maturity Interest rate adjustment Other (1) Commercial real estate 4 $ 113 $ 121 $ — $ 250 $ 484 Commercial 10 4,240 947 46 2,805 8,038 Total loans restructured during period 14 $ 4,353 $ 1,068 $ 46 $ 3,055 $ 8,522 Number of Notes Type of Concession Principal Balance at Restructure Date Six Months Ended June 30, 2016 Interest only period Extension of terms or maturity Interest rate adjustment Other (1) Commercial real estate 7 $ 689 $ 325 $ — $ 250 $ 1,264 Commercial 10 4,240 947 46 2,805 8,038 Total loans restructured during period 17 $ 4,929 $ 1,272 $ 46 $ 3,055 $ 9,302 (1) Other includes concessions that reduce or defer payments for a specified period of time and/or do not fit into other designated categories. The Company considers a payment default to occur on troubled debt restructurings when the loan is 90 days or more past due or was placed on non-accrual status after the modification. Three Months Ended June 30, 2016 Six Months Ended June 30, 2016 Number of Notes Balance Number of Notes Balance Commercial real estate — $ — 1 $ 203 Total — $ — 1 $ 203 |
Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator | The following tables present the Company’s recorded investment in criticized loans by class and credit quality indicator based on the most recent analysis performed as of the dates indicated: As of June 30, 2016 Other Assets Especially Mentioned Substandard Doubtful Total Criticized Loans Real estate: Commercial $ 73,383 $ 87,756 $ 18,351 $ 179,490 Construction: Land acquisition & development 12,843 9,462 1,709 24,014 Residential 1,835 754 — 2,589 Commercial — 4,104 1,481 5,585 Total construction loans 14,678 14,320 3,190 32,188 Residential 6,885 9,862 517 17,264 Agricultural 6,459 21,756 — 28,215 Total real estate loans 101,405 133,694 22,058 257,157 Consumer: Indirect consumer 760 1,159 130 2,049 Other consumer 1,006 776 192 1,974 Total consumer loans 1,766 1,935 322 4,023 Commercial 33,934 33,771 18,435 86,140 Agricultural 5,455 6,621 529 12,605 Total $ 142,560 $ 176,021 $ 41,344 $ 359,925 As of December 31, 2015 Other Assets Especially Mentioned Substandard Doubtful Total Criticized Loans Real estate: Commercial $ 61,787 $ 84,556 $ 10,609 $ 156,952 Construction: Land acquisition & development 16,593 12,482 591 29,666 Residential 1,640 1,886 — 3,526 Commercial 166 323 756 1,245 Total construction loans 18,399 14,691 1,347 34,437 Residential 4,453 9,661 2,540 16,654 Agricultural 6,114 16,529 — 22,643 Total real estate loans 90,753 125,437 14,496 230,686 Consumer: Indirect consumer 644 1,131 154 1,929 Other consumer 651 1,130 198 1,979 Total consumer loans 1,295 2,261 352 3,908 Commercial 32,975 27,982 15,085 76,042 Agricultural 2,247 7,105 417 9,769 Total $ 127,270 $ 162,785 $ 30,350 $ 320,405 |
Allowance for Loan Losses (Tabl
Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Receivables [Abstract] | |
Schedule of Allowance for Loan Losses by Portfolio Segment | The following tables present a summary of changes in the allowance for loan losses by portfolio segment for the periods indicated: Three Months Ended June 30, 2016 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Beginning balance $ 36,652 $ 5,256 $ 36,252 $ 1,764 $ — $ 79,924 Provision charged to operating expense (4,059 ) 2,123 4,313 173 — 2,550 Less loans charged-off (523 ) (1,712 ) (1,018 ) (188 ) — (3,441 ) Add back recoveries of loans previously charged-off 211 648 448 — — 1,307 Ending balance $ 32,281 $ 6,315 $ 39,995 $ 1,749 $ — $ 80,340 Six Months Ended June 30, 2016 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Beginning balance $ 52,296 $ 5,144 $ 18,775 $ 602 $ — $ 76,817 Provision charged to operating expense (20,140 ) 3,352 22,003 1,335 — 6,550 Less loans charged-off (2,445 ) (3,604 ) (1,506 ) (188 ) — (7,743 ) Add back recoveries of loans previously charged-off 2,570 1,423 723 — — 4,716 Ending balance $ 32,281 $ 6,315 $ 39,995 $ 1,749 $ — $ 80,340 As of June 30, 2016 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Loans individually evaluated for impairment $ 8,184 $ — $ 10,588 $ 81 $ — $ 18,853 Loans collectively evaluated for impairment 24,097 6,315 29,407 1,668 — 61,487 Allowance for loan losses $ 32,281 $ 6,315 $ 39,995 $ 1,749 $ — $ 80,340 Total loans: Individually evaluated for impairment $ 64,204 $ — $ 33,506 $ 774 $ — $ 98,484 Collectively evaluated for impairment 3,400,311 907,174 791,456 139,118 3,646 5,241,705 Total loans $ 3,464,515 $ 907,174 $ 824,962 $ 139,892 $ 3,646 $ 5,340,189 Three Months Ended June 30, 2015 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Beginning balance $ 53,659 $ 5,499 $ 15,196 $ 982 $ — $ 75,336 Provision charged to operating expense 461 646 224 9 — 1,340 Less loans charged-off (610 ) (837 ) (61 ) — — (1,508 ) Add back recoveries of loans previously charged-off 425 520 438 1 — 1,384 Ending balance $ 53,935 $ 5,828 $ 15,797 $ 992 $ — $ 76,552 Six Months Ended June 30, 2015 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Beginning balance $ 53,884 $ 5,035 $ 14,307 $ 974 $ — $ 74,200 Provision charged to operating expense (570 ) 1,771 1,217 17 — 2,435 Less loans charged-off (795 ) (2,138 ) (435 ) — — (3,368 ) Add back recoveries of loans previously charged-off 1,416 1,160 708 1 — 3,285 Ending balance $ 53,935 $ 5,828 $ 15,797 $ 992 $ — $ 76,552 As of December 31, 2015 Real Estate Consumer Commercial Agriculture Other Total Allowance for loan losses: Loans individually evaluated for impairment $ 4,794 $ — $ 6,487 $ 294 $ — $ 11,575 Loans collectively evaluated for impairment 47,502 5,144 12,288 308 — 65,242 Allowance for loan losses $ 52,296 $ 5,144 $ 18,775 $ 602 $ — $ 76,817 Total loans: Individually evaluated for impairment $ 66,516 $ — $ 24,471 $ 978 $ — $ 91,965 Collectively evaluated for impairment 3,346,546 844,353 767,945 141,173 1,339 5,101,356 Total loans $ 3,413,062 $ 844,353 $ 792,416 $ 142,151 $ 1,339 $ 5,193,321 |
OREO (Tables)
OREO (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Repossessed Assets [Abstract] | |
Other Real Estate Owned Roll Forward | Information with respect to the Company's other real estate owned follows: Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Beginning balance $ 9,257 $ 15,134 $ 6,254 $ 13,554 Additions 792 1,139 4,019 4,396 Valuation adjustments (586 ) — (603 ) (106 ) Dispositions (1,555 ) (4,500 ) (1,762 ) (6,071 ) Ending balance $ 7,908 $ 11,773 $ 7,908 $ 11,773 Foreclosed residential real estate properties of $ 3,213 and $1,686 were included in other real estate owned as of June 30, 2016 and December 31, 2015, respectively. The Company did not have any consumer mortgage loans collateralized by residential real estate property that were in the process of foreclosure as of June 30, 2016 or December 31, 2015. |
Derivatives and Hedging (Tables
Derivatives and Hedging (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Derivative [Line Items] | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | June 30, 2016 December 31, 2015 Notional Amount Estimated Fair Value Notional Amount Estimated Fair Value Derivative Assets (included in other assets on balance sheet): Derivatives designated as hedges: Interest rate swap contracts $ — $ — $ 100,000 $ 165 Non-hedging interest rate derivatives: Interest rate swap contracts 20,913 1,719 9,369 788 Interest rate lock commitments 98,401 2,801 — — Total derivative assets $ 119,314 $ 4,520 $ 109,369 $ 953 Derivative Liabilities (included in accounts payable and accrued expenses on balance sheet): Derivatives designated as hedges: Interest rate swap contracts $ 100,000 $ 2,837 $ — $ — Non-hedging interest rate derivatives: Interest rate swap contracts 20,913 1,840 9,369 829 Forward loan sales contracts 166,834 1,583 — — Total derivative liabilities $ 287,747 $ 6,260 $ 9,369 $ 829 |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Derivatives designated as hedges: Amount of loss recognized in other comprehensive income (effective portion) $ (804 ) $ — $ (3,002 ) $ — Non-hedging interest rate derivatives: Amount of loss recognized in other non-interest income (50 ) (10 ) (79 ) (17 ) Amount of net fee income recognized in other non-interest income 245 — 245 — Amount of gains recognized in mortgage banking revenues 523 — 1,218 — |
Earnings per Share (Tables)
Earnings per Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Share | The following table sets forth the computation of basic and diluted earnings per share for the three and six month periods ended June 30, 2016 and 2015 : Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income $ 25,554 $ 22,222 $ 45,678 $ 43,202 Weighted average common shares outstanding for basic earnings per share computation 44,268,985 45,143,122 44,494,102 45,260,104 Dilutive effects of stock-based compensation 376,190 463,564 385,513 582,935 Weighted average common shares outstanding for diluted earnings per common share computation 44,645,175 45,606,686 44,879,615 45,843,039 Basic earnings per common share $ 0.58 $ 0.49 $ 1.03 $ 0.95 Diluted earnings per common share $ 0.57 $ 0.49 $ 1.02 $ 0.94 |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Actual capital amounts and ratios for the Company and its bank subsidiary, as of June 30, 2016 and December 31, 2015 are presented in the following tables: Actual Adequately Capitalized Basel III Phase-In Schedule Adequately Capitalized Basel III Fully Phased-In Well Capitalized (1) Amount Ratio Amount Ratio Amount Ratio Amount Ratio June 30, 2016 Total risk-based capital: Consolidated $ 950,217 15.0 % $ 545,247 8.6 % $ 663,779 10.5 % $ 632,170 10.0 % FIB 877,466 13.9 543,128 8.6 661,199 10.5 629,713 10.0 Tier 1 risk-based capital: Consolidated 867,179 13.7 418,813 6.6 537,345 8.5 505,736 8.0 FIB 798,732 12.7 417,185 6.6 535,256 8.5 503,770 8.0 Common equity tier 1 risk-based capital: Consolidated 787,179 12.5 323,987 5.1 442,519 7.0 410,911 6.5 FIB 798,732 12.7 322,728 5.1 440,799 7.0 409,314 6.5 Leverage capital ratio: Consolidated 867,179 10.4 335,116 4.0 335,116 4.0 418,895 5.0 FIB 798,732 9.6 333,819 4.0 333,819 4.0 417,274 5.0 Actual Adequately Capitalized Basel III Phase-In Schedule Adequately Capitalized Basel III Fully Phased-In Well Capitalized (1) Amount Ratio Amount Ratio Amount Ratio Amount Ratio December 31, 2015 Total risk-based capital: Consolidated $ 946,156 15.4 % $ 492,692 8.0 % $ 646,658 10.5 % $ 615,865 10.0 % FIB 882,504 14.4 490,866 8.0 644,262 10.5 613,582 10.0 Tier 1 risk-based capital: Consolidated 861,339 14.0 369,519 6.0 523,485 8.5 $ 492,692 8.0 FIB 805,805 13.1 368,149 6.0 521,545 8.5 490,866 8.0 Common equity tier 1 risk-based capital: Consolidated 781,339 12.7 277,139 4.5 431,105 7.0 $ 400,312 6.5 FIB 805,805 13.1 276,112 4.5 429,508 7.0 398,829 6.5 Leverage capital ratio: Consolidated 861,339 10.1 340,480 4.0 340,480 4.0 $ 425,600 5.0 FIB 805,805 9.5 339,316 4.0 339,316 4.0 424,145 5.0 (1) The ratios for the well capitalized requirement are only applicable to FIB. However, the Company manages its capital position as if the requirement applies to the consolidated entity and has presented the ratios as if they also applied on a consolidated basis. |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Equity [Abstract] | |
Schedule of Comprehensive Income (Loss) | Other Comprehensive Income/Loss The gross amounts of each component of other comprehensive income and the related tax effects are as follows: Pre-tax Tax Expense (Benefit) Net of Tax Three Months Ended June 30, 2016 2015 2016 2015 2016 2015 Investment securities available-for sale: Change in net unrealized gains during period $ 10,043 $ (9,196 ) $ 3,947 $ (3,618 ) $ 6,096 $ (5,578 ) Reclassification adjustment for net gains included in net income (108 ) (46 ) (42 ) (18 ) (66 ) (28 ) Change in unamortized loss on available- for-sale securities transferred into held-to- maturity 452 451 170 177 282 274 Unrealized loss on derivatives (804 ) — (305 ) — (499 ) — Defined benefits post-retirement benefit plan: Change in net actuarial loss 13 13 5 5 8 8 Total other comprehensive income (loss) $ 9,596 $ (8,778 ) $ 3,775 $ (3,454 ) $ 5,821 $ (5,324 ) Pre-tax Tax Expense (Benefit) Net of Tax Six Months Ended June 30, 2016 2015 2016 2015 2016 2015 Investment securities available-for sale: Change in net unrealized gains during period $ 18,671 $ 1,412 $ 7,322 $ 555 $ 11,349 $ 857 Reclassification adjustment for net gains included in net income (87 ) (52 ) (34 ) (20 ) (53 ) (32 ) Change in unamortized loss on available- for-sale securities transferred into held-to- maturity 904 902 340 355 564 547 Unrealized loss on derivatives (3,002 ) — (1,141 ) — (1,861 ) — Defined benefits post-retirement benefit plan: Change in net actuarial loss 28 28 11 11 17 17 Total other comprehensive income $ 16,514 $ 2,290 $ 6,498 $ 901 $ 10,016 $ 1,389 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive income, net of related tax effects, are as follows: June 30, December 31, Net unrealized gain on investment securities available-for-sale $ 12,544 $ 684 Net unrealized gain (loss) on derivatives (1,761 ) 100 Net actuarial loss on defined benefit post-retirement benefit plans (361 ) (378 ) Net accumulated other comprehensive income $ 10,422 $ 406 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis | Financial assets and financial liabilities measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using As of June 30, 2016 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investment securities available-for-sale: U.S. Treasury Notes $ 3,953 $ — $ 3,953 $ — Obligations of U.S. government agencies 453,405 — 453,405 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 1,044,597 — 1,044,597 — Private mortgage-backed securities 135 — 135 — Other investments 3,491 — 3,491 — Loans held for sale 73,053 — 73,053 — Derivative assets: Interest rate swap contracts 1,719 — 1,719 — Interest rate lock commitments 2,801 — 2,801 — Derivative liabilities: Interest rate swap contracts 4,676 — 4,676 — Forward loan sale contracts 1,583 — 1,583 — Deferred compensation plan assets 10,247 — 10,247 — Deferred compensation plan liabilities 10,247 — 10,247 — Fair Value Measurements at Reporting Date Using As of December 31, 2015 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investment securities available-for-sale: U.S. Treasury notes $ 3,911 $ — $ 3,911 $ — Obligations of U.S. government agencies 520,181 — 520,181 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 929,046 — 929,046 — Private mortgage-backed securities 156 — 156 — Other investments 3,546 — 3,546 — Derivative assets: Interest rate swap contracts 953 — 953 — Derivative liabilities Interest rate swap contracts 829 — 829 — Deferred compensation plan assets 10,149 — 10,149 — Deferred compensation plan liabilities 10,149 — 10,149 — |
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Non-Recurring Basis | The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis: Fair Value Measurements at Reporting Date Using As of June 30, 2016 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 21,538 $ — $ — $ 21,538 Other real estate owned 1,369 — — 1,369 Long-lived assets to be disposed of by sale 1,506 — — 1,506 Fair Value Measurements at Reporting Date Using As of December 31, 2015 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans $ 20,875 $ — $ — $ 20,875 Other real estate owned 1,789 — — 1,789 Long-lived assets to be disposed of by sale 1,506 — — 1,506 |
Fair Value Inputs, Assets, Quantitative Information | Fair Value As of June 30, 2016 December 31, 2015 Valuation Technique Unobservable Inputs Range (Weighted Average) Impaired loans $ 21,538 $ 20,875 Appraisal Appraisal adjustment 0% - 53% (38%) Other real estate owned 1,369 1,789 Appraisal Appraisal adjustment 2% - 96% (19%) Long-lived assets to be disposed of by sale 1,506 1,506 Appraisal Appraisal adjustment 0% - 9% (6%) |
Fair Value, by Balance Sheet Grouping | Fair Value Measurements at Reporting Date Using As of June 30, 2016 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 476,051 $ 476,051 $ 476,051 $ — $ — Investment securities available-for-sale 1,505,581 1,505,581 — 1,505,581 — Investment securities held-to-maturity 566,247 574,482 — 574,482 — Accrued interest receivable 27,448 27,448 — 27,448 — Mortgage servicing rights, net 16,038 23,970 — 23,970 — Loans held for sale 73,053 73,053 — 73,053 — Net loans held for investment 5,259,849 5,123,545 — 5,102,007 21,538 Derivative assets 4,520 4,520 — 4,520 — Deferred compensation plan assets 10,247 10,247 — 10,247 — Total financial assets $ 7,939,034 $ 7,818,897 $ 476,051 $ 7,321,308 $ 21,538 Financial liabilities: Total deposits, excluding time deposits $ 5,894,902 $ 5,894,902 $ 5,894,902 $ — $ — Time deposits 1,086,546 1,085,410 — 1,085,410 — Securities sold under repurchase agreements 466,399 466,399 — 466,399 — Other borrowed funds 15 15 — 15 — Accrued interest payable 5,647 5,647 — 5,647 — Long-term debt 27,928 27,535 — 27,535 — Subordinated debentures held by subsidiary trusts 82,477 71,173 — 71,173 — Derivative liabilities 6,260 6,260 — 6,260 — Deferred compensation plan liabilities 10,247 10,247 — 10,247 — Total financial liabilities $ 7,580,421 $ 7,567,588 $ 5,894,902 $ 1,672,686 $ — Fair Value Measurements at Reporting Date Using As of December 31, 2015 Carrying Amount Estimated Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Financial assets: Cash and cash equivalents $ 780,457 $ 780,457 $ 780,457 $ — $ — Investment securities available-for-sale 1,456,840 1,456,840 — 1,456,840 — Investment securities held-to-maturity 600,665 607,550 — 607,550 — Accrued interest receivable 27,729 27,729 — 27,729 — Mortgage servicing rights, net 15,621 31,011 — 31,011 — Net loans 5,169,379 5,128,705 — 5,107,830 20,875 Derivative assets 953 953 — 953 — Deferred compensation plan assets 10,149 10,149 — 10,149 — Total financial assets $ 8,061,793 $ 8,043,394 $ 780,457 $ 7,242,062 $ 20,875 Financial liabilities: Total deposits, excluding time deposits $ 5,957,345 $ 5,975,345 $ 5,975,345 $ — $ — Time deposits 1,131,592 1,137,289 — 1,137,289 — Securities sold under repurchase agreements 510,635 510,635 — 510,635 — Other borrowed funds 2 2 — 2 — Accrued interest payable 4,960 4,960 — 4,960 — Long-term debt 27,885 27,622 — 27,622 — Subordinated debentures held by subsidiary trusts 82,477 74,969 — 74,969 — Derivative liabilities 829 829 — 829 — Deferred compensation plan liabilities 10,149 10,149 — 10,149 — Total financial liabilities $ 7,725,874 $ 7,741,800 $ 5,975,345 $ 1,766,455 $ — |
Business Combination (Details)
Business Combination (Details) $ in Thousands | Apr. 06, 2016 | Jul. 24, 2015 | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Dec. 31, 2015USD ($) |
Business Acquisition [Line Items] | |||||
Assets | $ 8,605,376 | $ 8,728,196 | |||
Flathead Bank [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Acquisition, Date of Acquisition Agreement | Apr. 6, 2016 | ||||
Assets | $ 231,574 | ||||
Estimate of Payments to Acquire Businesses, Gross | $ 34,237 | ||||
United Bank [Member] | |||||
Business Acquisition [Line Items] | |||||
Business Acquisition, Effective Date of Acquisition | Jul. 24, 2015 | ||||
Number of Subsidiary Banks | 1 | ||||
Goodwill, Purchase Accounting Adjustments | $ 42 |
Amortized Cost and Approximate
Amortized Cost and Approximate Fair Values of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Available-for-Sale: | ||
Available-for-Sale, Amortized Cost | $ 1,480,501 | $ 1,450,396 |
Available-for-sale Securities, Gross Unrealized Gain1 | 25,220 | 10,169 |
Available-for-sale Securities, Gross Unrealized Loss1 | (140) | (3,725) |
Available-for-Sale, Estimated Fair Value | 1,505,581 | 1,456,840 |
Held-to-Maturity: | ||
Held-to-Maturity, Amortized Cost | 556,247 | 600,665 |
Held-to-maturity Securities, Gross Unrealized Gain1 | 24,013 | 12,854 |
Held-to-maturity Securities, Gross Unrealized Loss1 | (5,778) | (5,969) |
Held-to-Maturity, Estimated Fair Value | 574,482 | 607,550 |
US Treasury Securities [Member] | ||
Available-for-Sale: | ||
Available-for-Sale, Amortized Cost | 3,909 | 3,912 |
Available-for-sale Securities, Gross Unrealized Gain1 | 44 | 3 |
Available-for-sale Securities, Gross Unrealized Loss1 | 0 | (4) |
Available-for-Sale, Estimated Fair Value | 3,953 | 3,911 |
Obligations of U.S. government agencies | ||
Available-for-Sale: | ||
Available-for-Sale, Amortized Cost | 450,544 | 521,079 |
Available-for-sale Securities, Gross Unrealized Gain1 | 2,882 | 712 |
Available-for-sale Securities, Gross Unrealized Loss1 | (21) | (1,610) |
Available-for-Sale, Estimated Fair Value | 453,405 | 520,181 |
Held-to-Maturity: | ||
Held-to-Maturity, Amortized Cost | 19,737 | 19,738 |
Held-to-maturity Securities, Gross Unrealized Gain1 | 483 | 0 |
Held-to-maturity Securities, Gross Unrealized Loss1 | 0 | (102) |
Held-to-Maturity, Estimated Fair Value | 20,220 | 19,636 |
U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | ||
Available-for-Sale: | ||
Available-for-Sale, Amortized Cost | 1,022,462 | 921,699 |
Available-for-sale Securities, Gross Unrealized Gain1 | 22,252 | 9,448 |
Available-for-sale Securities, Gross Unrealized Loss1 | (117) | (2,101) |
Available-for-Sale, Estimated Fair Value | 1,044,597 | 929,046 |
Held-to-Maturity: | ||
Held-to-Maturity, Amortized Cost | 320,620 | 356,742 |
Held-to-maturity Securities, Gross Unrealized Gain1 | 15,925 | 7,686 |
Held-to-maturity Securities, Gross Unrealized Loss1 | (5,777) | (5,420) |
Held-to-Maturity, Estimated Fair Value | 330,768 | 359,008 |
Private mortgage-backed securities | ||
Available-for-Sale: | ||
Available-for-Sale, Amortized Cost | 136 | 156 |
Available-for-sale Securities, Gross Unrealized Gain1 | 1 | 1 |
Available-for-sale Securities, Gross Unrealized Loss1 | (2) | (1) |
Available-for-Sale, Estimated Fair Value | 135 | 156 |
State, county and municipal securities | ||
Held-to-Maturity: | ||
Held-to-Maturity, Amortized Cost | 164,334 | 173,785 |
Held-to-maturity Securities, Gross Unrealized Gain1 | 7,024 | 5,103 |
Held-to-maturity Securities, Gross Unrealized Loss1 | (1) | (227) |
Held-to-Maturity, Estimated Fair Value | 171,357 | 178,661 |
Corporate securities | ||
Held-to-Maturity: | ||
Held-to-Maturity, Amortized Cost | 51,262 | 50,046 |
Held-to-maturity Securities, Gross Unrealized Gain1 | 580 | 64 |
Held-to-maturity Securities, Gross Unrealized Loss1 | 0 | (220) |
Held-to-Maturity, Estimated Fair Value | 51,842 | 49,890 |
Other Investments | ||
Held-to-Maturity: | ||
Held-to-Maturity, Amortized Cost | 294 | 354 |
Held-to-maturity Securities, Gross Unrealized Gain1 | 1 | 1 |
Held-to-maturity Securities, Gross Unrealized Loss1 | 0 | 0 |
Held-to-Maturity, Estimated Fair Value | 295 | 355 |
Other Investments | ||
Available-for-Sale: | ||
Available-for-Sale, Amortized Cost | 3,450 | 3,550 |
Available-for-sale Securities, Gross Unrealized Gain1 | 41 | 5 |
Available-for-sale Securities, Gross Unrealized Loss1 | 0 | (9) |
Available-for-Sale, Estimated Fair Value | $ 3,491 | $ 3,546 |
Investment Securities Realized
Investment Securities Realized Gains (Losses) on Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Gross realized gains | $ 108 | $ 46 | $ 165 | $ 52 |
Gross realized losses | $ 0 | $ 0 | $ (78) | $ 0 |
Investment Securities Transfer
Investment Securities Transfer from AFS to HTM (Details) - USD ($) $ in Thousands | Oct. 30, 2015 | Jun. 27, 2014 |
Transfer from AFS to HTM [Abstract] | ||
Available-for-Sale Securities Transferred to Held-to-Maturity, Amortized Costs | $ 100,343 | $ 396,640 |
Available-for-Sale Securities Transferred to Held-to-Maturity, Fair Values | 100,140 | 388,808 |
Available-for-Sale Securities Transferred to Held-to-Maturity, Unrealized Net Gain (Loss) | $ 203 | $ 7,832 |
Remaining Expected Lives of Available-for-Sale Securities Transferred to Held-to-Maturity | 4 years | 4 years 3 months 17 days |
Investment Securities Gross Unr
Investment Securities Gross Unrealized Losses and Fair Values of Investment Securities (Details) $ in Thousands | Jun. 30, 2016USD ($)securities | Dec. 31, 2015USD ($)securities |
Available-for-Sale: | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 11,097 | $ 556,823 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | (41) | (2,667) |
Available-for-Sale, 12 Months or More Fair Value | 29,140 | 82,690 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or Longer, Aggregate Loss1 | (99) | (1,058) |
Available-for-Sale, Total Fair Value | 40,237 | 639,513 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | (140) | (3,725) |
Held-to-Maturity: | ||
Held-to-Maturity, Less than 12 Months Fair Value | 5,655 | 128,350 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | (2,631) | (4,649) |
Held-to-Maturity, 12 Months or More Fair Value | 22,916 | 79,015 |
Held-to-Maturity, 12 Months or More Gross Unrealized Losses | (3,147) | (1,320) |
Held-to-Maturity, Total Fair Value | 28,571 | 207,365 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | $ (5,778) | $ (5,969) |
Available-for-Sale and Held-to-Maturity: | ||
Investment Securities in an Unrealized Loss Position (Number of Securities) | securities | 55 | 198 |
US Treasury Securities [Member] | ||
Available-for-Sale: | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 2,092 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | (4) | |
Available-for-Sale, 12 Months or More Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or Longer, Aggregate Loss1 | 0 | |
Available-for-Sale, Total Fair Value | 2,092 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | (4) | |
Obligations of U.S. government agencies | ||
Available-for-Sale: | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 0 | 209,631 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | 0 | (1,077) |
Available-for-Sale, 12 Months or More Fair Value | 10,477 | 54,619 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or Longer, Aggregate Loss1 | (21) | (533) |
Available-for-Sale, Total Fair Value | 10,477 | 264,250 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | (21) | (1,610) |
Held-to-Maturity: | ||
Held-to-Maturity, Less than 12 Months Fair Value | 19,738 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | (102) | |
Held-to-Maturity, 12 Months or More Fair Value | 0 | |
Held-to-Maturity, 12 Months or More Gross Unrealized Losses | 0 | |
Held-to-Maturity, Total Fair Value | 19,738 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | (102) | |
U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | ||
Available-for-Sale: | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 11,097 | 343,875 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | (41) | (1,577) |
Available-for-Sale, 12 Months or More Fair Value | 18,609 | 28,010 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or Longer, Aggregate Loss1 | (76) | (524) |
Available-for-Sale, Total Fair Value | 29,706 | 371,885 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | (117) | (2,101) |
Held-to-Maturity: | ||
Held-to-Maturity, Less than 12 Months Fair Value | 5,030 | 67,295 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | (2,631) | (4,288) |
Held-to-Maturity, 12 Months or More Fair Value | 20,683 | 69,539 |
Held-to-Maturity, 12 Months or More Gross Unrealized Losses | (3,146) | (1,132) |
Held-to-Maturity, Total Fair Value | 25,713 | 136,834 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | (5,777) | (5,420) |
State, county and municipal securities | ||
Held-to-Maturity: | ||
Held-to-Maturity, Less than 12 Months Fair Value | 625 | 10,182 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | 0 | (39) |
Held-to-Maturity, 12 Months or More Fair Value | 2,233 | 9,476 |
Held-to-Maturity, 12 Months or More Gross Unrealized Losses | (1) | (188) |
Held-to-Maturity, Total Fair Value | 2,858 | 19,658 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | (1) | (227) |
Private mortgage-backed securities | ||
Available-for-Sale: | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | 0 | 0 |
Available-for-Sale, 12 Months or More Fair Value | 54 | 61 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or Longer, Aggregate Loss1 | (2) | (1) |
Available-for-Sale, Total Fair Value | 54 | 61 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | $ (2) | (1) |
Corporate securities | ||
Held-to-Maturity: | ||
Held-to-Maturity, Less than 12 Months Fair Value | 31,135 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | (220) | |
Held-to-Maturity, 12 Months or More Fair Value | 0 | |
Held-to-Maturity, 12 Months or More Gross Unrealized Losses | 0 | |
Held-to-Maturity, Total Fair Value | 31,135 | |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | (220) | |
Other Investments | ||
Available-for-Sale: | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 1,225 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less Than 12 months, Aggregate Loss1 | (9) | |
Available-for-Sale, 12 Months or More Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 months or Longer, Aggregate Loss1 | 0 | |
Available-for-Sale, Total Fair Value | 1,225 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss1 | $ (9) |
Maturities of Investment Securi
Maturities of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Rolling Maturity | ||
Available-for-Sale Amortized Cost, Within One Year | $ 352,031 | |
Available-for-Sale Amortized Cost, After One Year but Within Five Years | 1,049,286 | |
Available-for-Sale Amortized Cost, After Five Years but Within Ten Years | 58,599 | |
Available-for-Sale Amortized Cost, After Ten Years | 20,585 | |
Available-for-Sale, Amortized Cost | 1,480,501 | $ 1,450,396 |
Available-for-sale Securities, Debt Maturities, Fair Value, Rolling Maturity | ||
Available-for-Sale Estimated Fair Value, Within One Year | 358,337 | |
Available-for-Sale Estimated Fair Value, After One Year but Within Five Years | 1,066,900 | |
Available-for-Sale Estimated Fair Value, After Ten Years | 59,317 | |
Available-for-Sale Estimated Fair Value, After Five Years but Within Ten Years | 21,027 | |
Available-for-Sale, Estimated Fair Value | 1,505,581 | 1,456,840 |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount | ||
Held-to-Maturity Amortized Cost, Within One Year | 90,746 | |
Held-to-Maturity Amortized Cost, After One Year but Within Five Years | 311,641 | |
Held-to-Maturity Amortized Cost, After Five Years but Within Ten Years | 128,607 | |
Held-to-Maturity Amortized Cost, After Ten Years | 25,253 | |
Held-to-Maturity, Amortized Cost | 556,247 | 600,665 |
Held-to-maturity Securities, Debt Maturities, Fair Value, Rolling Maturity | ||
Held-to-Maturity Estimated Fair Value, Within One Year | 94,029 | |
Held-to-Maturity Estimated Fair Value, After One Year but Within Five Years | 319,471 | |
Held-to-Maturity Estimated Fair Value, After Five Years but Within Ten Years | 134,596 | |
Held-to-Maturity Estimated Fair Value, After Ten Years | 26,386 | |
Held-to-Maturity, Estimated Fair Value | 574,482 | $ 607,550 |
Callable Within One Year | ||
Available-for-sale Securities and Held-to-maturity Securities | ||
Investment Securities Primarily Classified as Available-for-Sale, Amortized Costs, After One Year but Within Five Years | 231,957 | |
Investment Securities Primarily Classified as Available-for-Sale, Fair Value, After One Year but Within Five Years | $ 232,619 |
Schedule of Loans by Class (Det
Schedule of Loans by Class (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | $ 5,340,189 | $ 5,193,321 |
Mortgage loans held for sale | 73,053 | 52,875 |
Total loans | 5,413,242 | 5,246,196 |
Commercial real estate | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 1,816,813 | 1,793,258 |
Land acquisition & development construction real estate | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 218,650 | 224,066 |
Residential construction real estate | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 113,944 | 111,763 |
Commercial construction real estate | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 117,643 | 94,890 |
Total construction loans | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 450,237 | 430,719 |
Residential real estate | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 1,030,593 | 1,032,851 |
Agricultural real estate | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 166,872 | 156,234 |
Total real estate loans | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 3,464,515 | 3,413,062 |
Indirect consumer | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 687,768 | 622,529 |
Other consumer | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 153,185 | 153,717 |
Credit card consumer | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 66,221 | 68,107 |
Total consumer loans | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 907,174 | 844,353 |
Commercial | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 824,962 | 792,416 |
Agricultural | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | 139,892 | 142,151 |
Other, including overdrafts | ||
Loans and Leases Receivable [Line Items] | ||
Loans held for investment | $ 3,646 | $ 1,339 |
Schedule of Recorded Investment
Schedule of Recorded Investment in Past Due Loans by Class (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Mortgage loans held for sale | $ 73,053 | $ 73,053 | $ 52,875 | ||
Loans held for investment | 5,340,189 | 5,340,189 | 5,193,321 | ||
Total loans | 5,413,242 | 5,413,242 | 5,246,196 | ||
Interest Income on Non-Accrual Loans if Accrued | 821 | $ 875 | 1,690 | $ 1,613 | |
Commercial real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 3,330 | 3,330 | 7,193 | ||
Current Loans | 1,784,134 | 1,784,134 | 1,762,294 | ||
Non-accrual Loans | 29,349 | 29,349 | 23,771 | ||
Loans held for investment | 1,816,813 | 1,816,813 | 1,793,258 | ||
Land acquisition & development construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 579 | 579 | 4,678 | ||
Current Loans | 212,210 | 212,210 | 212,757 | ||
Non-accrual Loans | 5,861 | 5,861 | 6,631 | ||
Loans held for investment | 218,650 | 218,650 | 224,066 | ||
Residential construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 619 | 619 | 1,288 | ||
Current Loans | 113,053 | 113,053 | 110,182 | ||
Non-accrual Loans | 272 | 272 | 293 | ||
Loans held for investment | 113,944 | 113,944 | 111,763 | ||
Commercial construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 3,232 | ||
Current Loans | 115,975 | 115,975 | 90,703 | ||
Non-accrual Loans | 1,668 | 1,668 | 955 | ||
Loans held for investment | 117,643 | 117,643 | 94,890 | ||
Total construction loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 1,198 | 1,198 | 9,198 | ||
Current Loans | 441,238 | 441,238 | 413,642 | ||
Non-accrual Loans | 7,801 | 7,801 | 7,879 | ||
Loans held for investment | 450,237 | 450,237 | 430,719 | ||
Residential real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 7,645 | 7,645 | 9,250 | ||
Current Loans | 1,020,251 | 1,020,251 | 1,018,359 | ||
Non-accrual Loans | 2,697 | 2,697 | 5,242 | ||
Loans held for investment | 1,030,593 | 1,030,593 | 1,032,851 | ||
Agricultural real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 439 | 439 | 193 | ||
Current Loans | 160,970 | 160,970 | 150,686 | ||
Non-accrual Loans | 5,463 | 5,463 | 5,355 | ||
Loans held for investment | 166,872 | 166,872 | 156,234 | ||
Total real estate loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 12,612 | 12,612 | 25,834 | ||
Current Loans | 3,406,593 | 3,406,593 | 3,344,981 | ||
Non-accrual Loans | 45,310 | 45,310 | 42,247 | ||
Loans held for investment | 3,464,515 | 3,464,515 | 3,413,062 | ||
Indirect consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 7,630 | 7,630 | 7,974 | ||
Current Loans | 679,558 | 679,558 | 614,029 | ||
Non-accrual Loans | 580 | 580 | 526 | ||
Loans held for investment | 687,768 | 687,768 | 622,529 | ||
Other consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 1,028 | 1,028 | 1,677 | ||
Current Loans | 151,764 | 151,764 | 151,381 | ||
Non-accrual Loans | 393 | 393 | 659 | ||
Loans held for investment | 153,185 | 153,185 | 153,717 | ||
Credit card consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 1,337 | 1,337 | 1,327 | ||
Current Loans | 64,884 | 64,884 | 66,768 | ||
Non-accrual Loans | 0 | 0 | 12 | ||
Loans held for investment | 66,221 | 66,221 | 68,107 | ||
Total consumer loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 9,995 | 9,995 | 10,978 | ||
Current Loans | 896,206 | 896,206 | 832,178 | ||
Non-accrual Loans | 973 | 973 | 1,197 | ||
Loans held for investment | 907,174 | 907,174 | 844,353 | ||
Commercial | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 5,666 | 5,666 | 10,252 | ||
Current Loans | 792,012 | 792,012 | 759,851 | ||
Non-accrual Loans | 27,284 | 27,284 | 22,313 | ||
Loans held for investment | 824,962 | 824,962 | 792,416 | ||
Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 918 | 918 | 1,093 | ||
Current Loans | 138,230 | 138,230 | 140,430 | ||
Non-accrual Loans | 744 | 744 | 628 | ||
Loans held for investment | 139,892 | 139,892 | 142,151 | ||
Other, including overdrafts | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 311 | 311 | 314 | ||
Current Loans | 3,335 | 3,335 | 1,025 | ||
Non-accrual Loans | 0 | 0 | 0 | ||
Loans held for investment | 3,646 | 3,646 | 1,339 | ||
Loans held for investment | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 29,502 | 29,502 | 48,471 | ||
Current Loans | 5,236,376 | 5,236,376 | 5,078,465 | ||
Non-accrual Loans | 74,311 | 74,311 | 66,385 | ||
Loans held for investment | 5,340,189 | 5,340,189 | 5,193,321 | ||
Mortgage loans originated for sale | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Current Loans | 73,053 | 73,053 | 52,875 | ||
Non-accrual Loans | 0 | 0 | 0 | ||
Total loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 29,502 | 29,502 | 48,471 | ||
Current Loans | 5,309,429 | 5,309,429 | 5,131,340 | ||
Non-accrual Loans | 74,311 | 74,311 | 66,385 | ||
Total loans | 5,413,242 | 5,413,242 | 5,246,196 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 2,707 | 2,707 | 6,051 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Land acquisition & development construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 305 | 305 | 3,190 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 619 | 619 | 1,288 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 3,232 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Total construction loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 924 | 924 | 7,710 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 4,526 | 4,526 | 5,991 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Agricultural real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 224 | 224 | 176 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Total real estate loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 8,381 | 8,381 | 19,928 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Indirect consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 5,503 | 5,503 | 6,675 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Other consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 823 | 823 | 1,312 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Credit card consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 488 | 488 | 533 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Total consumer loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 6,814 | 6,814 | 8,520 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 4,268 | 4,268 | 8,493 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 578 | 578 | 879 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Other, including overdrafts | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Loans held for investment | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 20,041 | 20,041 | 37,820 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Mortgage loans originated for sale | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, 30 to 59 Days Past Due [Member] | Total loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 20,041 | 20,041 | 37,820 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 336 | 336 | 724 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Land acquisition & development construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 205 | 205 | 163 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Total construction loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 205 | 205 | 163 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 981 | 981 | 1,196 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Agricultural real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 103 | 103 | 17 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Total real estate loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 1,625 | 1,625 | 2,100 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Indirect consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 1,823 | 1,823 | 1,089 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Other consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 170 | 170 | 331 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Credit card consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 340 | 340 | 317 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Total consumer loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 2,333 | 2,333 | 1,737 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 806 | 806 | 1,060 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 243 | 243 | 152 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Other, including overdrafts | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Loans held for investment | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 5,007 | 5,007 | 5,049 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Mortgage loans originated for sale | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, 60 to 89 Days Past Due [Member] | Total loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 5,007 | 5,007 | 5,049 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 287 | 287 | 418 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Land acquisition & development construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 69 | 69 | 1,325 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial construction real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Total construction loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 69 | 69 | 1,325 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 2,138 | 2,138 | 2,063 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Agricultural real estate | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 112 | 112 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Total real estate loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 2,606 | 2,606 | 3,806 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Indirect consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 304 | 304 | 210 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 35 | 35 | 34 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Credit card consumer | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 509 | 509 | 477 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Total consumer loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 848 | 848 | 721 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 592 | 592 | 699 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 97 | 97 | 62 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Other, including overdrafts | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 311 | 311 | 314 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans held for investment | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 4,454 | 4,454 | 5,602 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Mortgage loans originated for sale | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | 0 | 0 | 0 | ||
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Total loans | |||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | |||||
Total Loans 30 or More Days Past Due | $ 4,454 | $ 4,454 | $ 5,602 |
Loans Schedule of Loans Acquire
Loans Schedule of Loans Acquired from Business Combinations (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Jun. 30, 2015 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities [Abstract] | ||
Outstanding Balance | $ 31,979 | $ 35,555 |
Carrying Amount Net, Accrual Status | 20,140 | 22,293 |
Total Carrying Value | $ 20,140 | $ 22,293 |
Loans Certain Loans Acquired in
Loans Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Debt Securities, Accretable Yield Movement Schedule [Roll Forward] | ||||
Beginning Balance | $ 6,678 | $ 6,980 | $ 6,713 | $ 5,781 |
Accretion Income | (615) | (807) | (1,229) | (1,355) |
Reductions Due to Exit Events | (158) | 0 | (305) | (396) |
Reclassifications from (to) nonaccretable differences | 0 | 1,309 | 726 | 3,452 |
Ending Balance | $ 5,905 | $ 7,482 | $ 5,905 | $ 7,482 |
Loans Schedule of Recorded Inve
Loans Schedule of Recorded Investment in Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | $ 125,632 | $ 125,632 | $ 120,387 | ||
Recorded Investment With No Allowance | 50,744 | 50,744 | 56,236 | ||
Recorded Investment With Allowance | 47,740 | 47,740 | 35,729 | ||
Total Recorded Investment | 98,484 | 98,484 | 91,965 | ||
Related Allowance | 18,853 | 18,853 | 11,575 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 81,121 | $ 86,438 | 84,122 | $ 82,923 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 162 | 357 | 222 | 555 | |
Interest Income on Impaired Loans If Interest Had Been Accrued | 964 | 1,045 | 2,020 | 2,011 | |
Commercial real estate | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 57,833 | 57,833 | 58,179 | ||
Recorded Investment With No Allowance | 22,624 | 22,624 | 27,882 | ||
Recorded Investment With Allowance | 22,740 | 22,740 | 17,614 | ||
Total Recorded Investment | 45,364 | 45,364 | 45,496 | ||
Related Allowance | 6,273 | 6,273 | 3,401 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 34,576 | 39,513 | 36,342 | 40,652 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 105 | 211 | 141 | 361 | |
Land acquisition & development construction real estate | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 13,358 | 13,358 | 15,503 | ||
Recorded Investment With No Allowance | 5,267 | 5,267 | 7,245 | ||
Recorded Investment With Allowance | 1,692 | 1,692 | 778 | ||
Total Recorded Investment | 6,959 | 6,959 | 8,023 | ||
Related Allowance | 898 | 898 | 282 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 7,096 | 8,664 | 7,277 | 8,720 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 12 | 12 | 19 | 22 | |
Residential construction real estate | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 981 | 981 | 992 | ||
Recorded Investment With No Allowance | 272 | 272 | 293 | ||
Recorded Investment With Allowance | 0 | 0 | 0 | ||
Total Recorded Investment | 272 | 272 | 293 | ||
Related Allowance | 0 | 0 | 0 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 277 | 338 | 282 | 302 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 0 | 0 | 0 | 0 | |
Commercial construction real estate | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 2,037 | 2,037 | 1,264 | ||
Recorded Investment With No Allowance | 324 | 324 | 340 | ||
Recorded Investment With Allowance | 1,464 | 1,464 | 739 | ||
Total Recorded Investment | 1,788 | 1,788 | 1,079 | ||
Related Allowance | 872 | 872 | 739 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 1,421 | 3,492 | 1,433 | 3,133 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 2 | 0 | 2 | 2 | |
Total construction loans | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 16,376 | 16,376 | 17,759 | ||
Recorded Investment With No Allowance | 5,863 | 5,863 | 7,878 | ||
Recorded Investment With Allowance | 3,156 | 3,156 | 1,517 | ||
Total Recorded Investment | 9,019 | 9,019 | 9,395 | ||
Related Allowance | 1,770 | 1,770 | 1,021 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 8,794 | 12,494 | 8,992 | 12,155 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 14 | 12 | 21 | 24 | |
Residential real estate | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 5,399 | 5,399 | 7,073 | ||
Recorded Investment With No Allowance | 2,835 | 2,835 | 3,547 | ||
Recorded Investment With Allowance | 1,131 | 1,131 | 2,317 | ||
Total Recorded Investment | 3,966 | 3,966 | 5,864 | ||
Related Allowance | 134 | 134 | 367 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 3,067 | 3,014 | 4,138 | 2,719 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 2 | 1 | 3 | 2 | |
Agricultural real estate | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 6,441 | 6,441 | 6,434 | ||
Recorded Investment With No Allowance | 5,662 | 5,662 | 5,563 | ||
Recorded Investment With Allowance | 193 | 193 | 198 | ||
Total Recorded Investment | 5,855 | 5,855 | 5,761 | ||
Related Allowance | 7 | 7 | 5 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 5,857 | 8,572 | 5,671 | 8,666 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 0 | 13 | 1 | 35 | |
Total real estate loans | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 86,049 | 86,049 | 89,445 | ||
Recorded Investment With No Allowance | 36,984 | 36,984 | 44,870 | ||
Recorded Investment With Allowance | 27,220 | 27,220 | 21,646 | ||
Total Recorded Investment | 64,204 | 64,204 | 66,516 | ||
Related Allowance | 8,184 | 8,184 | 4,794 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 52,294 | 63,593 | 55,143 | 64,192 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 121 | 237 | 166 | 422 | |
Commercial | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 38,622 | 38,622 | 29,593 | ||
Recorded Investment With No Allowance | 13,466 | 13,466 | 10,744 | ||
Recorded Investment With Allowance | 20,040 | 20,040 | 13,727 | ||
Total Recorded Investment | 33,506 | 33,506 | 24,471 | ||
Related Allowance | 10,588 | 10,588 | 6,487 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 28,074 | 21,841 | 28,133 | 17,874 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | 41 | 112 | 56 | 120 | |
Agricultural | |||||
Impaired Financing Receivable, Unpaid Principal Balance | |||||
Unpaid Total Principal Balance | 961 | 961 | 1,349 | ||
Recorded Investment With No Allowance | 294 | 294 | 622 | ||
Recorded Investment With Allowance | 480 | 480 | 356 | ||
Total Recorded Investment | 774 | 774 | 978 | ||
Related Allowance | 81 | 81 | $ 294 | ||
Impaired Financing Receivable, Average Recorded Investment and Cash Basis Method Interest Income | |||||
Average Recorded Investment | 753 | 1,004 | 846 | 857 | |
Impaired Financing Receivable, Interest Income, Cash Basis Method [Abstract] | |||||
Income Recognized | $ 0 | $ 8 | $ 0 | $ 13 |
Schedule of Loans Renegotiated
Schedule of Loans Renegotiated in Troubled Debt Restructurings (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016USD ($)notes | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($)notes | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | |
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Loans Renegotiated in Troubled Debt Restructurings | $ 44,957 | $ 44,957 | $ 40,330 | ||
Loans Renegotiated in Troubled Debt Restructurings, Non-Accrual Loans | 28,549 | 28,549 | 24,911 | ||
Loans Renegotiated in Troubled Debt Restructurings, Accrual Loans | $ 16,408 | $ 16,408 | $ 15,419 | ||
Number of Notes | notes | 14 | 17 | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 8,522 | $ 9,302 | |||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 0 | $ 0 | $ 0 | $ 0 | |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | notes | 0 | 1 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 203 | |||
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | 0 | |||
Interest only period | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 4,353 | 4,929 | |||
Extension of terms or maturity | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 1,068 | 1,272 | |||
Interest Rate Adjustment Concession [Member] | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 46 | 46 | |||
Other Concession [Member] | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 3,055 | $ 3,055 | |||
Commercial Real Estate [Member] | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of Notes | notes | 4 | 7 | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 484 | $ 1,264 | |||
Commercial Real Estate [Member] | Interest only period | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 113 | 689 | |||
Commercial Real Estate [Member] | Extension of terms or maturity | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 121 | 325 | |||
Commercial Real Estate [Member] | Interest Rate Adjustment Concession [Member] | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 0 | 0 | |||
Commercial Real Estate [Member] | Other Concession [Member] | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 250 | $ 250 | |||
Commercial real estate | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | notes | 0 | 1 | |||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | $ 0 | $ 203 | |||
Commercial | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Number of Notes | notes | 10 | 10 | |||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 8,038 | $ 8,038 | |||
Commercial | Interest only period | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 4,240 | 4,240 | |||
Commercial | Extension of terms or maturity | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 947 | 947 | |||
Commercial | Interest Rate Adjustment Concession [Member] | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 46 | 46 | |||
Commercial | Other Concession [Member] | |||||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 2,805 | $ 2,805 |
Schedule of Recorded Investme46
Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | $ 5,340,189 | $ 5,193,321 |
Commercial real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,816,813 | 1,793,258 |
Land acquisition & development construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 218,650 | 224,066 |
Residential construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 113,944 | 111,763 |
Commercial construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 117,643 | 94,890 |
Total construction loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 450,237 | 430,719 |
Residential real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,030,593 | 1,032,851 |
Agricultural real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 166,872 | 156,234 |
Total real estate loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 3,464,515 | 3,413,062 |
Indirect consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 687,768 | 622,529 |
Other consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 153,185 | 153,717 |
Credit card consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 66,221 | 68,107 |
Total consumer loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 907,174 | 844,353 |
Commercial | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 824,962 | 792,416 |
Agricultural | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 139,892 | 142,151 |
Other Assets Especially Mentioned | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 142,560 | 127,270 |
Other Assets Especially Mentioned | Commercial real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 73,383 | 61,787 |
Other Assets Especially Mentioned | Land acquisition & development construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 12,843 | 16,593 |
Other Assets Especially Mentioned | Residential construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,835 | 1,640 |
Other Assets Especially Mentioned | Commercial construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 0 | 166 |
Other Assets Especially Mentioned | Total construction loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 14,678 | 18,399 |
Other Assets Especially Mentioned | Residential real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 6,885 | 4,453 |
Other Assets Especially Mentioned | Agricultural real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 6,459 | 6,114 |
Other Assets Especially Mentioned | Total real estate loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 101,405 | 90,753 |
Other Assets Especially Mentioned | Indirect consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 760 | 644 |
Other Assets Especially Mentioned | Other consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,006 | 651 |
Other Assets Especially Mentioned | Total consumer loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,766 | 1,295 |
Other Assets Especially Mentioned | Commercial | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 33,934 | 32,975 |
Other Assets Especially Mentioned | Agricultural | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 5,455 | 2,247 |
Substandard | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 176,021 | 162,785 |
Substandard | Commercial real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 87,756 | 84,556 |
Substandard | Land acquisition & development construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 9,462 | 12,482 |
Substandard | Residential construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 754 | 1,886 |
Substandard | Commercial construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 4,104 | 323 |
Substandard | Total construction loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 14,320 | 14,691 |
Substandard | Residential real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 9,862 | 9,661 |
Substandard | Agricultural real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 21,756 | 16,529 |
Substandard | Total real estate loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 133,694 | 125,437 |
Substandard | Indirect consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,159 | 1,131 |
Substandard | Other consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 776 | 1,130 |
Substandard | Total consumer loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,935 | 2,261 |
Substandard | Commercial | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 33,771 | 27,982 |
Substandard | Agricultural | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 6,621 | 7,105 |
Doubtful | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 41,344 | 30,350 |
Doubtful | Commercial real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 18,351 | 10,609 |
Doubtful | Land acquisition & development construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,709 | 591 |
Doubtful | Residential construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 0 | 0 |
Doubtful | Commercial construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,481 | 756 |
Doubtful | Total construction loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 3,190 | 1,347 |
Doubtful | Residential real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 517 | 2,540 |
Doubtful | Agricultural real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 0 | 0 |
Doubtful | Total real estate loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 22,058 | 14,496 |
Doubtful | Indirect consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 130 | 154 |
Doubtful | Other consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 192 | 198 |
Doubtful | Total consumer loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 322 | 352 |
Doubtful | Commercial | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 18,435 | 15,085 |
Doubtful | Agricultural | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 529 | 417 |
Total Criticized Loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 359,925 | 320,405 |
Total Criticized Loans | Commercial real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 179,490 | 156,952 |
Total Criticized Loans | Land acquisition & development construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 24,014 | 29,666 |
Total Criticized Loans | Residential construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 2,589 | 3,526 |
Total Criticized Loans | Commercial construction real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 5,585 | 1,245 |
Total Criticized Loans | Total construction loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 32,188 | 34,437 |
Total Criticized Loans | Residential real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 17,264 | 16,654 |
Total Criticized Loans | Agricultural real estate | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 28,215 | 22,643 |
Total Criticized Loans | Total real estate loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 257,157 | 230,686 |
Total Criticized Loans | Indirect consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 2,049 | 1,929 |
Total Criticized Loans | Other consumer | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 1,974 | 1,979 |
Total Criticized Loans | Total consumer loans | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 4,023 | 3,908 |
Total Criticized Loans | Commercial | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | 86,140 | 76,042 |
Total Criticized Loans | Agricultural | ||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | ||
Loans held for investment | $ 12,605 | $ 9,769 |
Schedule of Allowance for Loan
Schedule of Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Certain Loans and Debt Securities Acquired in Transfer, Allowance for Credit Losses Due to Subsequent Impairment | $ 387 | $ 382 | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | $ 79,924 | $ 75,336 | $ 76,817 | $ 74,200 | ||
Provision charged to operating expense | 2,550 | 1,340 | 6,550 | 2,435 | ||
Less loans charged-off | (3,441) | (1,508) | (7,743) | (3,368) | ||
Add back recoveries of loans previously charged-off | 1,307 | 1,384 | 4,716 | 3,285 | ||
Ending balance | 80,340 | 76,552 | 80,340 | 76,552 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Loans individually evaluated for impairment | 18,853 | 11,575 | ||||
Loans collectively evaluated for impairment | 61,487 | 65,242 | ||||
Ending balance | 79,924 | 75,336 | 76,817 | 74,200 | 80,340 | 76,817 |
Total loans: | ||||||
Individually evaluated for impairment | 98,484 | 91,965 | ||||
Individually evaluated for impairment | 5,241,705 | 5,101,356 | ||||
Total loans | 5,340,189 | 5,193,321 | ||||
Real Estate | ||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 36,652 | 53,659 | 52,296 | 53,884 | ||
Provision charged to operating expense | (4,059) | 461 | (20,140) | (570) | ||
Less loans charged-off | (523) | (610) | (2,445) | (795) | ||
Add back recoveries of loans previously charged-off | 211 | 425 | 2,570 | 1,416 | ||
Ending balance | 32,281 | 53,935 | 32,281 | 53,935 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Loans individually evaluated for impairment | 8,184 | 4,794 | ||||
Loans collectively evaluated for impairment | 24,097 | 47,502 | ||||
Ending balance | 36,652 | 53,659 | 52,296 | 53,884 | 32,281 | 52,296 |
Total loans: | ||||||
Individually evaluated for impairment | 64,204 | 66,516 | ||||
Individually evaluated for impairment | 3,400,311 | 3,346,546 | ||||
Total loans | 3,464,515 | 3,413,062 | ||||
Total consumer loans | ||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 5,256 | 5,499 | 5,144 | 5,035 | ||
Provision charged to operating expense | 2,123 | 646 | 3,352 | 1,771 | ||
Less loans charged-off | (1,712) | (837) | (3,604) | (2,138) | ||
Add back recoveries of loans previously charged-off | 648 | 520 | 1,423 | 1,160 | ||
Ending balance | 6,315 | 5,828 | 6,315 | 5,828 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Loans individually evaluated for impairment | 0 | 0 | ||||
Loans collectively evaluated for impairment | 6,315 | 5,144 | ||||
Ending balance | 5,256 | 5,499 | 5,144 | 5,035 | 6,315 | 5,144 |
Total loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Individually evaluated for impairment | 907,174 | 844,353 | ||||
Total loans | 907,174 | 844,353 | ||||
Commercial | ||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 36,252 | 15,196 | 18,775 | 14,307 | ||
Provision charged to operating expense | 4,313 | 224 | 22,003 | 1,217 | ||
Less loans charged-off | (1,018) | (61) | (1,506) | (435) | ||
Add back recoveries of loans previously charged-off | 448 | 438 | 723 | 708 | ||
Ending balance | 39,995 | 15,797 | 39,995 | 15,797 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Loans individually evaluated for impairment | 10,588 | 6,487 | ||||
Loans collectively evaluated for impairment | 29,407 | 12,288 | ||||
Ending balance | 36,252 | 15,196 | 18,775 | 14,307 | 39,995 | 18,775 |
Total loans: | ||||||
Individually evaluated for impairment | 33,506 | 24,471 | ||||
Individually evaluated for impairment | 791,456 | 767,945 | ||||
Total loans | 824,962 | 792,416 | ||||
Agriculture | ||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 1,764 | 982 | 602 | 974 | ||
Provision charged to operating expense | 173 | 9 | 1,335 | 17 | ||
Less loans charged-off | (188) | 0 | (188) | 0 | ||
Add back recoveries of loans previously charged-off | 0 | 1 | 0 | 1 | ||
Ending balance | 1,749 | 992 | 1,749 | 992 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Loans individually evaluated for impairment | 81 | 294 | ||||
Loans collectively evaluated for impairment | 1,668 | 308 | ||||
Ending balance | 1,764 | 982 | 602 | 974 | 1,749 | 602 |
Total loans: | ||||||
Individually evaluated for impairment | 774 | 978 | ||||
Individually evaluated for impairment | 139,118 | 141,173 | ||||
Total loans | 139,892 | 142,151 | ||||
Other | ||||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||||
Beginning balance | 0 | 0 | 0 | 0 | ||
Provision charged to operating expense | 0 | 0 | 0 | 0 | ||
Less loans charged-off | 0 | 0 | 0 | 0 | ||
Add back recoveries of loans previously charged-off | 0 | 0 | 0 | 0 | ||
Ending balance | 0 | 0 | 0 | 0 | ||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||||
Loans individually evaluated for impairment | 0 | 0 | ||||
Loans collectively evaluated for impairment | 0 | 0 | ||||
Ending balance | $ 0 | $ 0 | $ 0 | $ 0 | 0 | 0 |
Total loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Individually evaluated for impairment | 3,646 | 1,339 | ||||
Total loans | $ 3,646 | $ 1,339 |
OREO (Details)
OREO (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | ||||
Mortgage Loans in Process of Foreclosure, Amount | $ 0 | $ 0 | ||
Real Estate Acquired Through Foreclosure [Roll Forward] | ||||
Beginning balance | 9,257 | $ 15,134 | 6,254 | $ 13,554 |
Additions | 792 | 1,139 | 4,019 | 4,396 |
Valuation adjustments | (586) | 0 | (603) | (106) |
Dispositions | (1,555) | (4,500) | (1,762) | (6,071) |
Ending balance | 7,908 | $ 11,773 | 7,908 | $ 11,773 |
Residential real estate | ||||
Real Estate Acquired Through Foreclosure [Roll Forward] | ||||
Beginning balance | 1,686 | |||
Ending balance | $ 3,213 | $ 3,213 |
Derivatives and Hedging (Detail
Derivatives and Hedging (Details) - USD ($) $ in Thousands | Sep. 22, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 |
Derivative [Line Items] | ||||||
Derivative, Inception Date | Sep. 22, 2015 | |||||
Derivative, Fixed Interest Rate | 1.94% | |||||
Derivative Asset, Notional Amount | $ 119,314 | $ 119,314 | $ 109,369 | |||
Interest Rate Derivative Assets, at Fair Value | 4,520 | 4,520 | 953 | |||
Derivative Liability, Notional Amount | $ 100,000 | 287,747 | 287,747 | 9,369 | ||
Interest Rate Derivative Liabilities, at Fair Value | 6,260 | 6,260 | 829 | |||
Interest Rate Swap | ||||||
Derivative [Line Items] | ||||||
Derivative Liability, Notional Amount | 100,000 | |||||
Designated as Hedging Instrument [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Instruments, Loss Recognized in Other Comprehensive Income (Loss), Effective Portion | (804) | $ 0 | (3,002) | $ 0 | ||
Designated as Hedging Instrument [Member] | Interest Rate Swap | ||||||
Derivative [Line Items] | ||||||
Derivative Asset, Notional Amount | 0 | 0 | 100,000 | |||
Interest Rate Derivative Assets, at Fair Value | 0 | 0 | 165 | |||
Derivative Liability, Notional Amount | 100,000 | 100,000 | 0 | |||
Interest Rate Derivative Liabilities, at Fair Value | 2,837 | 2,837 | 0 | |||
Not Designated as Hedging Instrument [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Loss on Derivative | (50) | (10) | (79) | (17) | ||
Fee Income on Derivatives | 245 | 0 | 245 | 0 | ||
Gain (Loss) on Fair Value Hedges Recognized in Earnings | 523 | $ 0 | 1,218 | $ 0 | ||
Not Designated as Hedging Instrument [Member] | Interest Rate Swap | ||||||
Derivative [Line Items] | ||||||
Derivative Asset, Notional Amount | 20,913 | 20,913 | 9,369 | |||
Interest Rate Derivative Assets, at Fair Value | 1,719 | 1,719 | 788 | |||
Derivative Liability, Notional Amount | 20,913 | 20,913 | 9,369 | |||
Interest Rate Derivative Liabilities, at Fair Value | 1,840 | 1,840 | 829 | |||
Not Designated as Hedging Instrument [Member] | Interest Rate Lock Commitments [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Asset, Notional Amount | 98,401 | 98,401 | 0 | |||
Interest Rate Derivative Assets, at Fair Value | 2,801 | 2,801 | 0 | |||
Not Designated as Hedging Instrument [Member] | Forward Contracts [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative Liability, Notional Amount | 166,834 | 166,834 | 0 | |||
Interest Rate Derivative Liabilities, at Fair Value | $ 1,583 | $ 1,583 | $ 0 |
Capital Stock (Details)
Capital Stock (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Class of Stock [Line Items] | |||
Payments for Repurchase of Common Stock | $ 26,042 | $ 15,264 | |
Class A Common Stock | |||
Class of Stock [Line Items] | |||
Common Stock, Shares, Outstanding | 21,131,759 | 21,698,594 | |
Stock Repurchased and Retired During Period, Shares | 975,877 | 565,875 | |
Payments for Repurchase of Common Stock | $ 25,525 | $ 14,674 | |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | 24,123 | ||
Class B Common Stock | |||
Class of Stock [Line Items] | |||
Common Stock, Shares, Outstanding | 23,614,455 | 23,729,631 |
Computation of Basic and Dilute
Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net Income (Loss) Available to Common Stockholders, Basic | ||||
Net income | $ 25,554 | $ 22,222 | $ 45,678 | $ 43,202 |
Weighted Average Number of Shares Outstanding, Basic and Diluted | ||||
Weighted average common shares outstanding for basic earnings per share computation | 44,268,985 | 45,143,122 | 44,494,102 | 45,260,104 |
Dilutive effect of stock-based compensation | 376,190 | 463,564 | 385,513 | 582,935 |
Weighted average common shares outstanding for diluted earnings per common share computation | 44,645,175 | 45,606,686 | 44,879,615 | 45,843,039 |
Earnings Per Share, Basic and Diluted | ||||
Basic earnings per common share | $ 0.58 | $ 0.49 | $ 1.03 | $ 0.95 |
Diluted earnings per common share | $ 0.57 | $ 0.49 | $ 1.02 | $ 0.94 |
Performance Shares [Member] | ||||
Earnings Per Share, Basic and Diluted [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 221,322 | 166,362 | ||
Unvested Restricted Stock | ||||
Earnings Per Share, Basic and Diluted [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 96,726 | 0 | ||
Employee Stock Option [Member] | ||||
Earnings Per Share, Basic and Diluted [Line Items] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 |
Schedule of Actual Capital Amou
Schedule of Actual Capital Amounts and Ratios and Selected Minimum Regulatory Thresholds (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Total risk-based capital: | ||
Actual Amount | $ 950,217 | $ 946,156 |
Actual Ratio | 15.00% | 15.40% |
Well Capitalized Amount | $ 632,170 | $ 615,865 |
Well Capitalized Ratio | 10.00% | 10.00% |
Tier 1 risk-based capital: | ||
Actual Amount | $ 867,179 | $ 861,339 |
Actual Ratio | 13.70% | 14.00% |
Well Capitalized Amount | $ 505,736 | $ 492,692 |
Well Capitalized Ratio | 8.00% | 8.00% |
Common equity tier one risk-based capital: | ||
Actual Amount | $ 787,179 | $ 781,339 |
Actual Ratio | 12.50% | 12.70% |
Leverage capital ratio: | ||
Actual Amount | $ 867,179 | $ 861,339 |
Actual Ratio | 10.40% | 10.10% |
Adequately Capitalized Amount | $ 335,116 | $ 340,480 |
Adequately Capitalized Ratio | 4.00% | 4.00% |
Well Capitalized Amount | $ 418,895 | $ 425,600 |
Well Capitalized Ratio | 5.00% | 5.00% |
Capital Required for Capital Adequacy under Basel III Phase-in Schedule | $ 545,247 | $ 492,692 |
Capital Required for Capital Adequacy under Basel III Phase-in Schedule to Risk Weighted Assets | 8.60% | 8.00% |
Capital Required for Capital Adequacy under Basel III Fully Phased-in | $ 663,779 | $ 646,658 |
Capital Required for Capital Adequacy under Basel III Fully Phased-in to Risk Weighted Assets | 10.50% | 10.50% |
Tier One Risk Based Capital under Basel III Phase-in Schedule | $ 418,813 | $ 369,519 |
Tier One Capital Required for Capital Adequacy under Basel III Phase-in Schedule to Risk Weighted Assets | 6.60% | 6.00% |
Tier One Capital Required for Capital Adequacy under Basel III Fully Phased-in | $ 537,345 | $ 523,485 |
Tier One Capital Required for Capital Adequacy under Basel III Fully Phased-in to Risk Weighted Assets | 8.50% | 8.50% |
Common Equity Tier One Capital Required for Capital Adequacy under Basel III Phase-in Schedule | $ 323,987 | $ 277,139 |
Common Equity Tier One Capital Required for Capital Adequacy under Basel III Phase-in Schedule to Risk Weighted Assets | 5.10% | 4.50% |
Tier One Common Equity Capital Required for Capital Adequacy under Basel III Fully Phased-in | $ 442,519 | $ 431,105 |
Tier One Common Equity Capital Required for Capital Adequacy under Basel III Fully Phased-in to Risk Weighted Assets | 7.00% | 7.00% |
Common Equity Tier One Capital to be Well Capitalized | $ 410,911 | $ 400,312 |
Common Equity Tier One Capital to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
FIB | ||
Total risk-based capital: | ||
Actual Amount | $ 877,466 | $ 882,504 |
Actual Ratio | 13.90% | 14.40% |
Well Capitalized Amount | $ 629,713 | $ 613,582 |
Well Capitalized Ratio | 10.00% | 10.00% |
Tier 1 risk-based capital: | ||
Actual Amount | $ 798,732 | $ 805,805 |
Actual Ratio | 12.70% | 13.10% |
Well Capitalized Amount | $ 503,770 | $ 490,866 |
Well Capitalized Ratio | 8.00% | 8.00% |
Common equity tier one risk-based capital: | ||
Actual Amount | $ 798,732 | $ 805,805 |
Actual Ratio | 12.70% | 13.10% |
Leverage capital ratio: | ||
Actual Amount | $ 798,732 | $ 805,805 |
Actual Ratio | 9.60% | 9.50% |
Adequately Capitalized Amount | $ 333,819 | $ 339,316 |
Adequately Capitalized Ratio | 4.00% | 4.00% |
Well Capitalized Amount | $ 417,274 | $ 424,145 |
Well Capitalized Ratio | 5.00% | 5.00% |
Capital Required for Capital Adequacy under Basel III Phase-in Schedule | $ 543,128 | $ 490,866 |
Capital Required for Capital Adequacy under Basel III Phase-in Schedule to Risk Weighted Assets | 8.60% | 8.00% |
Capital Required for Capital Adequacy under Basel III Fully Phased-in | $ 661,199 | $ 644,262 |
Capital Required for Capital Adequacy under Basel III Fully Phased-in to Risk Weighted Assets | 10.50% | 10.50% |
Tier One Risk Based Capital under Basel III Phase-in Schedule | $ 417,185 | $ 368,149 |
Tier One Capital Required for Capital Adequacy under Basel III Phase-in Schedule to Risk Weighted Assets | 6.60% | 6.00% |
Tier One Capital Required for Capital Adequacy under Basel III Fully Phased-in | $ 535,256 | $ 521,545 |
Tier One Capital Required for Capital Adequacy under Basel III Fully Phased-in to Risk Weighted Assets | 8.50% | 8.50% |
Common Equity Tier One Capital Required for Capital Adequacy under Basel III Phase-in Schedule | $ 322,728 | $ 276,112 |
Common Equity Tier One Capital Required for Capital Adequacy under Basel III Phase-in Schedule to Risk Weighted Assets | 5.10% | 4.50% |
Tier One Common Equity Capital Required for Capital Adequacy under Basel III Fully Phased-in | $ 440,799 | $ 429,508 |
Tier One Common Equity Capital Required for Capital Adequacy under Basel III Fully Phased-in to Risk Weighted Assets | 7.00% | 7.00% |
Common Equity Tier One Capital to be Well Capitalized | $ 409,314 | $ 398,829 |
Common Equity Tier One Capital to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2016 | Dec. 31, 2015 | Sep. 22, 2015 | |
Loss Contingencies [Line Items] | |||
Derivative Liability, Notional Amount | $ 287,747 | $ 9,369 | $ 100,000 |
Commitments to Complete Contracts in Process | 131 | ||
Interest Rate Swap | |||
Loss Contingencies [Line Items] | |||
Derivative Liability, Notional Amount | $ 100,000 | ||
Mortgage Loans Held for Sale | |||
Loss Contingencies [Line Items] | |||
Guarantor Obligations, Recourse Provisions | 3,055 |
Financial Instruments with Of54
Financial Instruments with Off-Balance Sheet Risk (Details) $ in Thousands | Jun. 30, 2016USD ($) |
Entity Information [Line Items] | |
Credit Extension Commitments | $ 1,597,683 |
Credit Extension Commitments, Beyond One Year | 404,152 |
Standby Letters of Credit | |
Entity Information [Line Items] | |
Credit Extension Commitments | 51,804 |
Unused Credit Card Lines | |
Entity Information [Line Items] | |
Credit Extension Commitments | $ 569,171 |
Schedule of Comprehensive Incom
Schedule of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Change in net unrealized Gain during period: | ||||
Change in net unrealized gain during period, before tax amount | $ 10,043 | $ (9,196) | $ 18,671 | $ 1,412 |
Change in net unrealized gain during period, tax expense (benefit) | 3,947 | (3,618) | 7,322 | 555 |
Change in net unrealized gain during period, net of tax amount | 6,096 | (5,578) | 11,349 | 857 |
Reclassification adjustment for gains included in net income: | ||||
Reclassification adjustment for gains included in net income, before tax amount | (108) | (46) | (87) | (52) |
Reclassification adjustment for gains included in net income, tax expense (benefit) | (42) | (18) | (34) | (20) |
Reclassification adjustment for gains included in net income, net of tax amount | (66) | (28) | (53) | (32) |
Change in unamortized loss on available-for-sale securities transferred into held-to-maturity | 452 | 451 | 904 | 902 |
Other Comprehensive Income (Loss), Transfers from Held-to-maturity to Available-for-Sale Securities, Tax | 170 | 177 | 340 | 355 |
Change in unamortized loss on available-for-sale securities transferred into held-to-maturity | 282 | 274 | 564 | 547 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | (804) | 0 | (3,002) | 0 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | (305) | 0 | (1,141) | 0 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | (499) | 0 | (1,861) | 0 |
Change in net actuarial loss: | ||||
Change in net actuarial loss, before tax amount | 13 | 13 | 28 | 28 |
Change in net actuarial loss, tax expense (benefit) | 5 | 5 | 11 | 11 |
Change in net actuarial loss, net of tax amount | 8 | 8 | 17 | 17 |
Other comprehensive income (loss): | ||||
Other comprehensive income (loss), before tax | 9,596 | (8,778) | 16,514 | 2,290 |
Total other comprehensive income, tax expense (benefit) | 3,775 | (3,454) | 6,498 | 901 |
Total other comprehensive income, net of tax amount | $ 5,821 | $ (5,324) | $ 10,016 | $ 1,389 |
Schedule of Accumulated Other C
Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Net accumulated other comprehensive income: | ||
Net unrealized gain on investment securities available-for-sale | $ 12,544 | $ 684 |
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | (1,761) | 100 |
Net actuarial loss on defined benefit post-retirement benefit plans | (361) | (378) |
Net accumulated other comprehensive income | $ 10,422 | $ 406 |
Schedule of Financial Assets an
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring and Non-Recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Real Estate Acquired Through Foreclosure, Valuation Adjustments | $ 586 | $ 0 | $ 603 | $ 106 | |
Related Allowance | 18,853 | 18,853 | $ 11,575 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Mortgages Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Deferred compensation asset at fair value amount | 0 | 0 | 0 | ||
Deferred compensation plan liabilities at fair value amount | 0 | 0 | 0 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Non-recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | 0 | 0 | 0 | ||
Other real estate owned | 0 | 0 | 0 | ||
Long-lived assets to be disposed of by sale | 0 | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Mortgages Held-for-sale, Fair Value Disclosure | 73,053 | 73,053 | |||
Deferred compensation asset at fair value amount | 10,247 | 10,247 | 10,149 | ||
Deferred compensation plan liabilities at fair value amount | 10,247 | 10,247 | 10,149 | ||
Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Non-recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | 0 | 0 | 0 | ||
Other real estate owned | 0 | 0 | 0 | ||
Long-lived assets to be disposed of by sale | 0 | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Mortgages Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Deferred compensation asset at fair value amount | 0 | 0 | 0 | ||
Deferred compensation plan liabilities at fair value amount | 0 | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | 20,875 | ||||
Other real estate owned | 1,369 | 1,369 | 1,789 | ||
Real Estate Acquired Through Foreclosure, Valuation Adjustments | 603 | ||||
Impairment of real estate, received updated appraisal | 550 | ||||
Impairment of Real Estate, Change in Management Estimates | 53 | $ 106 | |||
Long-lived assets to be disposed of by sale | 1,506 | 1,506 | 1,506 | ||
Related Allowance | 18,854 | 18,854 | 11,575 | ||
Impaired Financing Receivable, Related Allowance, Partial Loan Charge-Offs | 10,466 | 10,466 | 10,229 | ||
US Treasury Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
US Treasury Securities [Member] | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 3,953 | 3,953 | 3,911 | ||
US Treasury Securities [Member] | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Obligations of U.S. government agencies | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Obligations of U.S. government agencies | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 453,405 | 453,405 | 520,181 | ||
Obligations of U.S. government agencies | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 1,044,597 | 1,044,597 | 929,046 | ||
U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Private mortgage-backed securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Private mortgage-backed securities | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 135 | 135 | 156 | ||
Private mortgage-backed securities | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Other Investments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Other Investments | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 3,491 | 3,491 | 3,546 | ||
Other Investments | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Estimated Fair Value | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 1,505,581 | 1,505,581 | 1,456,840 | ||
Derivative Asset | 4,520 | 4,520 | 953 | ||
Derivative Liability | 6,260 | 6,260 | 829 | ||
Mortgages Held-for-sale, Fair Value Disclosure | 73,053 | 73,053 | |||
Deferred compensation asset at fair value amount | 10,247 | 10,247 | 10,149 | ||
Deferred compensation plan liabilities at fair value amount | 10,247 | 10,247 | 10,149 | ||
Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Mortgages Held-for-sale, Fair Value Disclosure | 73,053 | 73,053 | |||
Deferred compensation asset at fair value amount | 10,247 | 10,247 | 10,149 | ||
Deferred compensation plan liabilities at fair value amount | 10,247 | 10,247 | 10,149 | ||
Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | 21,538 | 21,538 | 20,875 | ||
Other real estate owned | 1,369 | 1,369 | 1,789 | ||
Long-lived assets to be disposed of by sale | 1,506 | 1,506 | 1,506 | ||
Estimated Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Derivative Asset | 0 | 0 | 0 | ||
Derivative Liability | 0 | 0 | 0 | ||
Mortgages Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Deferred compensation asset at fair value amount | 0 | 0 | 0 | ||
Deferred compensation plan liabilities at fair value amount | 0 | 0 | 0 | ||
Estimated Fair Value | Significant Other Observable Inputs (Level 2) | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 1,505,581 | 1,505,581 | 1,456,840 | ||
Derivative Asset | 4,520 | 4,520 | 953 | ||
Derivative Liability | 6,260 | 6,260 | 829 | ||
Mortgages Held-for-sale, Fair Value Disclosure | 73,053 | 73,053 | |||
Deferred compensation asset at fair value amount | 10,247 | 10,247 | 10,149 | ||
Deferred compensation plan liabilities at fair value amount | 10,247 | 10,247 | 10,149 | ||
Estimated Fair Value | Significant Unobservable Inputs (Level 3) | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 0 | 0 | 0 | ||
Derivative Asset | 0 | 0 | 0 | ||
Derivative Liability | 0 | 0 | 0 | ||
Mortgages Held-for-sale, Fair Value Disclosure | 0 | 0 | |||
Deferred compensation asset at fair value amount | 0 | 0 | 0 | ||
Deferred compensation plan liabilities at fair value amount | 0 | 0 | 0 | ||
Estimated Fair Value | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | 21,538 | 21,538 | 20,875 | ||
Estimated Fair Value | US Treasury Securities [Member] | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 3,953 | 3,953 | 3,911 | ||
Estimated Fair Value | Obligations of U.S. government agencies | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 453,405 | 453,405 | 520,181 | ||
Estimated Fair Value | U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 1,044,597 | 1,044,597 | 929,046 | ||
Estimated Fair Value | Private mortgage-backed securities | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 135 | 135 | 156 | ||
Estimated Fair Value | Other Investments | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 3,491 | 3,491 | 3,546 | ||
Carrying Amount | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment securities available-for-sale | 1,505,581 | 1,505,581 | 1,456,840 | ||
Derivative Asset | 4,520 | 4,520 | 953 | ||
Derivative Liability | 6,260 | 6,260 | 829 | ||
Mortgages Held-for-sale, Fair Value Disclosure | 73,053 | 73,053 | |||
Deferred compensation asset at fair value amount | 10,247 | 10,247 | 10,149 | ||
Deferred compensation plan liabilities at fair value amount | 10,247 | 10,247 | 10,149 | ||
Carrying Amount | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Impaired loans | 50,858 | 50,858 | 42,679 | ||
Long-lived assets to be disposed of by sale | 2,363 | 2,363 | 2,363 | ||
Change During Period | Fair Value Measured on a Non-recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Long-lived assets to be disposed of by sale | 857 | 857 | 857 | ||
Interest Rate Swap | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset | 0 | 0 | 0 | ||
Derivative Liability | 0 | 0 | 0 | ||
Interest Rate Swap | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset | 1,719 | 1,719 | 953 | ||
Derivative Liability | 4,676 | 4,676 | 829 | ||
Interest Rate Swap | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset | 0 | 0 | 0 | ||
Derivative Liability | 0 | 0 | 0 | ||
Interest Rate Swap | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset | 1,719 | 1,719 | 953 | ||
Derivative Liability | 4,676 | 4,676 | $ 829 | ||
Interest Rate Lock Commitments [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset | 0 | 0 | |||
Interest Rate Lock Commitments [Member] | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset | 2,801 | 2,801 | |||
Interest Rate Lock Commitments [Member] | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset | 0 | 0 | |||
Interest Rate Lock Commitments [Member] | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Asset | 2,801 | 2,801 | |||
Forward Contracts [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Liability | 0 | 0 | |||
Forward Contracts [Member] | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Liability | 1,583 | 1,583 | |||
Forward Contracts [Member] | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Liability | 0 | 0 | |||
Forward Contracts [Member] | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative Liability | $ 1,583 | $ 1,583 |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value Inputs, Quantitative Information (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Loans and Leases Receivable, Impaired Loans | Minimum | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (0.00%) | |
Loans and Leases Receivable, Impaired Loans | Maximum | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (53.00%) | |
Loans and Leases Receivable, Impaired Loans | Weighted Average | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (38.00%) | |
Real Estate Acquired in Satisfaction of Debt | Minimum | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (2.00%) | |
Real Estate Acquired in Satisfaction of Debt | Maximum | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (96.00%) | |
Real Estate Acquired in Satisfaction of Debt | Weighted Average | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (19.00%) | |
Asses to be Disposed of by Sale | Minimum | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (0.00%) | |
Asses to be Disposed of by Sale | Maximum | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (9.00%) | |
Asses to be Disposed of by Sale | Weighted Average | Market Approach Valuation Technique | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | (6.00%) | |
Change During Period | Fair Value Measured on a Non-recurring Basis | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Long-lived assets to be disposed of by sale | $ 857 | $ 857 |
Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 21,538 | 20,875 |
Long-lived assets to be disposed of by sale | 1,506 | 1,506 |
Other real estate owned | 1,369 | 1,789 |
Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 20,875 | |
Long-lived assets to be disposed of by sale | 1,506 | 1,506 |
Other real estate owned | 1,369 | 1,789 |
Significant Unobservable Inputs (Level 3) | Carrying Amount | Fair Value Measured on a Non-recurring Basis | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 50,858 | 42,679 |
Long-lived assets to be disposed of by sale | 2,363 | 2,363 |
Significant Unobservable Inputs (Level 3) | Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | $ 21,538 | $ 20,875 |
Schedule of Estimated Fair Valu
Schedule of Estimated Fair Values of Financial Instruments by Level of Valuation Inputs (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Financial assets: | ||
Investment securities held-to-maturity | $ 574,482 | $ 607,550 |
Carrying Amount | ||
Financial assets: | ||
Cash and cash equivalents | 476,051 | 780,457 |
Investment securities available-for-sale | 1,505,581 | 1,456,840 |
Investment securities held-to-maturity | 566,247 | 600,665 |
Accrued interest receivable | 27,448 | 27,729 |
Mortgage servicing rights | 16,038 | 15,621 |
Mortgages Held-for-sale, Fair Value Disclosure | 73,053 | |
Loans Receivable, Fair Value Disclosure | 5,259,849 | 5,169,379 |
Derivative Asset | 4,520 | 953 |
Deferred compensation asset at fair value amount | 10,247 | 10,149 |
Total financial assets | 7,939,034 | 8,061,793 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 5,894,902 | 5,957,345 |
Time deposits | 1,086,546 | 1,131,592 |
Securities sold under repurchase agreements | 466,399 | 510,635 |
Other borrowed funds | 15 | 2 |
Accrued interest payable | 5,647 | 4,960 |
Long-term debt | 27,928 | 27,885 |
Subordinated debentures held by subsidiary trusts | 82,477 | 82,477 |
Derivative Liability | 6,260 | 829 |
Deferred compensation plan liabilities at fair value amount | 10,247 | 10,149 |
Total financial liabilities | 7,580,421 | 7,725,874 |
Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 476,051 | 780,457 |
Investment securities available-for-sale | 1,505,581 | 1,456,840 |
Investment securities held-to-maturity | 574,482 | 607,550 |
Accrued interest receivable | 27,448 | 27,729 |
Mortgage servicing rights | 23,970 | 31,011 |
Mortgages Held-for-sale, Fair Value Disclosure | 73,053 | |
Loans Receivable, Fair Value Disclosure | 5,123,545 | 5,128,705 |
Derivative Asset | 4,520 | 953 |
Deferred compensation asset at fair value amount | 10,247 | 10,149 |
Total financial assets | 7,818,897 | 8,043,394 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 5,894,902 | 5,975,345 |
Time deposits | 1,085,410 | 1,137,289 |
Securities sold under repurchase agreements | 466,399 | 510,635 |
Other borrowed funds | 15 | 2 |
Accrued interest payable | 5,647 | 4,960 |
Long-term debt | 27,535 | 27,622 |
Subordinated debentures held by subsidiary trusts | 71,173 | 74,969 |
Derivative Liability | 6,260 | 829 |
Deferred compensation plan liabilities at fair value amount | 10,247 | 10,149 |
Total financial liabilities | 7,567,588 | 7,741,800 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 476,051 | 780,457 |
Investment securities available-for-sale | 0 | 0 |
Investment securities held-to-maturity | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Mortgages Held-for-sale, Fair Value Disclosure | 0 | |
Loans Receivable, Fair Value Disclosure | 0 | 0 |
Derivative Asset | 0 | 0 |
Deferred compensation asset at fair value amount | 0 | 0 |
Total financial assets | 476,051 | 780,457 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 5,894,902 | 5,975,345 |
Time deposits | 0 | 0 |
Securities sold under repurchase agreements | 0 | 0 |
Other borrowed funds | 0 | 0 |
Accrued interest payable | 0 | 0 |
Long-term debt | 0 | 0 |
Subordinated debentures held by subsidiary trusts | 0 | 0 |
Derivative Liability | 0 | 0 |
Deferred compensation plan liabilities at fair value amount | 0 | 0 |
Total financial liabilities | 5,894,902 | 5,975,345 |
Significant Other Observable Inputs (Level 2) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment securities available-for-sale | 1,505,581 | 1,456,840 |
Investment securities held-to-maturity | 574,482 | 607,550 |
Accrued interest receivable | 27,448 | 27,729 |
Mortgage servicing rights | 23,970 | 31,011 |
Mortgages Held-for-sale, Fair Value Disclosure | 73,053 | |
Loans Receivable, Fair Value Disclosure | 5,102,007 | 5,107,830 |
Derivative Asset | 4,520 | 953 |
Deferred compensation asset at fair value amount | 10,247 | 10,149 |
Total financial assets | 7,321,308 | 7,242,062 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 0 | 0 |
Time deposits | 1,085,410 | 1,137,289 |
Securities sold under repurchase agreements | 466,399 | 510,635 |
Other borrowed funds | 15 | 2 |
Accrued interest payable | 5,647 | 4,960 |
Long-term debt | 27,535 | 27,622 |
Subordinated debentures held by subsidiary trusts | 71,173 | 74,969 |
Derivative Liability | 6,260 | 829 |
Deferred compensation plan liabilities at fair value amount | 10,247 | 10,149 |
Total financial liabilities | 1,672,686 | 1,766,455 |
Significant Unobservable Inputs (Level 3) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment securities available-for-sale | 0 | 0 |
Investment securities held-to-maturity | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Mortgages Held-for-sale, Fair Value Disclosure | 0 | |
Loans Receivable, Fair Value Disclosure | 21,538 | 20,875 |
Derivative Asset | 0 | 0 |
Deferred compensation asset at fair value amount | 0 | 0 |
Total financial assets | 21,538 | 20,875 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 0 | 0 |
Time deposits | 0 | 0 |
Securities sold under repurchase agreements | 0 | 0 |
Other borrowed funds | 0 | 0 |
Accrued interest payable | 0 | 0 |
Long-term debt | 0 | 0 |
Subordinated debentures held by subsidiary trusts | 0 | 0 |
Derivative Liability | 0 | 0 |
Deferred compensation plan liabilities at fair value amount | 0 | 0 |
Total financial liabilities | $ 0 | $ 0 |
Subsequent Events (Details)
Subsequent Events (Details) - $ / shares | Aug. 12, 2016 | Aug. 01, 2016 | Jul. 21, 2016 | Jul. 24, 2015 |
Class A Common Stock | Subsequent Event [Member] | ||||
Subsequent Event [Line Items] | ||||
Dividends Payable, Date Declared | Jul. 21, 2016 | |||
Dividends Payable, Amount Per Share | $ 0.22 | |||
Dividends Payable, Date to be Paid | Aug. 12, 2016 | |||
Dividends Payable, Date of Record | Aug. 1, 2016 | |||
United Bank [Member] | ||||
Subsequent Event [Line Items] | ||||
Business Acquisition, Effective Date of Acquisition | Jul. 24, 2015 |