Cover Page
Cover Page | 6 Months Ended |
Jun. 30, 2021shares | |
Document Information [Line Items] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Jun. 30, 2021 |
Document Transition Report | false |
Entity File Number | 001-34653 |
Entity Registrant Name | FIRST INTERSTATE BANCSYSTEM, INC. |
Entity Incorporation, State or Country Code | MT |
Entity Tax Identification Number | 81-0331430 |
Entity Address, Address Line One | 401 North 31st Street |
Entity Address, City or Town | Billings, |
Entity Address, State or Province | MT |
Entity Address, Postal Zip Code | 59116-0918 |
City Area Code | 406 |
Local Phone Number | 255-5390 |
Title of 12(b) Security | Class A common stock, no par value |
Trading Symbol | FIBK |
Security Exchange Name | NASDAQ |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Amendment Flag | false |
Entity Central Index Key | 0000860413 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | Q2 |
Class A Common Stock | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 41,720,638 |
Class B Common Stock | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 20,519,593 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and due from banks | $ 238.8 | $ 261.4 |
Interest bearing deposits in banks | 1,709.5 | 2,015.3 |
Federal funds sold | 0.1 | 0.1 |
Total cash and cash equivalents | 1,948.4 | 2,276.8 |
Investment securities: | ||
Available-for-sale | 3,957.8 | 4,008.7 |
Held-to-maturity, net (estimated fair values of $1,701.9 and $55.0 at June 30, 2021 and December 31, 2020, respectively) | 1,685.5 | 51.6 |
Total investment securities | 5,643.3 | 4,060.3 |
Mortgage loans held for sale, at fair value | 48.8 | 74 |
Loans held for investment, net of deferred fees and costs | 9,834.7 | 9,807.5 |
Allowance for credit losses | 135.5 | 144.3 |
Net loans held for investment | 9,699.2 | 9,663.2 |
Goodwill | 621.6 | 621.6 |
Company-owned life insurance | 299 | 296.4 |
Premises and equipment, net of accumulated depreciation | 299.1 | 312.3 |
Core deposit intangibles, net of accumulated amortization | 46.1 | 51.2 |
Accrued interest receivable | 50.9 | 51.1 |
Mortgage servicing rights, net of accumulated amortization and impairment reserve | 27.4 | 24 |
Other real estate owned (“OREO”) | 2 | 2.5 |
Other assets | 254.7 | 215.3 |
Total assets | 18,940.5 | 17,648.7 |
Deposits: | ||
Non-interest bearing | 5,416.8 | 4,633.5 |
Interest bearing | 10,148.9 | 9,583.5 |
Total deposits | 15,565.7 | 14,217 |
Securities sold under repurchase agreements | 1,038.7 | 1,091.4 |
Accounts payable and accrued expenses | 132.2 | 144.4 |
Accrued interest payable | 5 | 5.8 |
Deferred tax liability, net | 25.2 | 27.2 |
Long-term debt | 112.4 | 112.4 |
Allowance for credit losses on off-balance sheet credit exposures | 3.4 | 3.7 |
Subordinated debentures held by subsidiary trusts | 87 | 87 |
Total liabilities | 16,969.6 | 15,688.9 |
Stockholders’ equity: | ||
Nonvoting noncumulative preferred stock without par value; authorized 100,000 shares; no shares issued and outstanding as of June 30, 2021 or December 31, 2020 | 0 | 0 |
Common stock | 941.6 | 941.1 |
Retained earnings | 1,005.2 | 962.1 |
Accumulated other comprehensive income, net | 24.1 | 56.6 |
Total stockholders’ equity | 1,970.9 | 1,959.8 |
Total liabilities and stockholders’ equity | $ 18,940.5 | $ 17,648.7 |
Preferred Stock, Shares Authorized | 100,000 | 100,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Investment securities: | ||
Estimated fair value | $ 1,701.9 | $ 55 |
Stockholders' equity: | ||
Nonvoting, noncumulative preferred stock, shares authorized (in shares) | 100,000 | 100,000 |
Nonvoting, noncumulative preferred stock, shares issued (in shares) | 0 | 0 |
Nonvoting, noncumulative preferred stock, shares outstanding (in shares) | 0 | 0 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Interest income: | ||||
Interest and fees on loans | $ 105.4 | $ 112.1 | $ 213.2 | $ 224.1 |
Interest and dividends on investment securities: | ||||
Taxable | 15.8 | 15.7 | 31.6 | 32.9 |
Exempt from federal taxes | 1.4 | 0.5 | 2.8 | 1 |
Interest on deposits in banks | 0.7 | 0.5 | 1 | 3 |
Total interest income | 123.3 | 128.8 | 248.6 | 261 |
Interest expense: | ||||
Interest on deposits | 2.2 | 4.5 | 4.5 | 11.8 |
Interest on securities sold under repurchase agreements | 0.1 | 0.1 | 0.2 | 0.6 |
Interest on other debt | 1.5 | 1 | 3 | 1.3 |
Interest on subordinated debentures held by subsidiary trusts | 0.7 | 0.7 | 1.4 | 1.7 |
Total interest expense | 4.5 | 6.3 | 9.1 | 15.4 |
Net interest income | 118.8 | 122.5 | 239.5 | 245.6 |
(Reversal of) provision for credit losses | 0 | 19.5 | (5.1) | 48.5 |
Net interest income after provision for (reversal of) credit losses | 118.8 | 103 | 244.6 | 197.1 |
Non-interest income: | ||||
Investment securities gains (losses), net | (0.1) | 0 | (0.1) | 0 |
Mortgage banking revenues | 9.6 | 14.2 | 21.2 | 25.1 |
Other income | 2.6 | 4.3 | 6.7 | 7.9 |
Total non-interest income | 35.3 | 39.7 | 73.4 | 78.1 |
Non-interest expense: | ||||
Salaries and wages | 41.6 | 44.2 | 80.6 | 84.1 |
Employee benefits | 14.7 | 10.4 | 30.8 | 24.6 |
Outsourced technology services | 8.4 | 8.3 | 16.5 | 16.1 |
Occupancy, net | 7.1 | 6.8 | 14.4 | 14.1 |
Furniture and equipment | 4.1 | 4.2 | 8.5 | 7 |
OREO expense, net of income | 0 | 0.1 | (0.1) | (0.4) |
Professional fees | 3.2 | 3 | 6.6 | 5.7 |
FDIC insurance premiums | 1.5 | 1.6 | 3.1 | 3.2 |
Core deposit intangibles amortization | 2.5 | 2.7 | 5 | 5.6 |
Other expenses | 15.9 | 14.3 | 32 | 30.6 |
Noninterest Expense | 99 | 95.6 | 197.4 | 190.6 |
Income before income tax expense | 55.1 | 47.1 | 120.6 | 84.6 |
Income tax expense | 12.6 | 10.4 | 26.7 | 18.6 |
Net income | $ 42.5 | $ 36.7 | $ 93.9 | $ 66 |
Earnings per common share, basic (in dollars per share) | $ 0.69 | $ 0.57 | $ 1.52 | $ 1.02 |
Earnings per common share, diluted (in dollars per share) | $ 0.69 | $ 0.57 | $ 1.52 | $ 1.02 |
Weighted average common shares outstanding, basic (in shares) | 61,657,593 | 64,004,455 | 61,624,917 | 64,397,320 |
Weighted average common shares outstanding, diluted (in shares) | 61,727,821 | 64,082,489 | 61,723,142 | 64,513,886 |
Payment services revenues | ||||
Non-interest income: | ||||
Non-interest income | $ 11.4 | $ 9.3 | $ 21.6 | $ 19.5 |
Wealth management revenues | ||||
Non-interest income: | ||||
Wealth management revenues | 6.3 | 5.4 | 12.6 | 11.6 |
Service charges on deposit accounts | ||||
Non-interest income: | ||||
Non-interest income | 3.9 | 3.6 | 7.7 | 9 |
Other service charges, commissions, and fees | ||||
Non-interest income: | ||||
Non-interest income | $ 1.6 | $ 2.9 | $ 3.7 | $ 5 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 42.5 | $ 36.7 | $ 93.9 | $ 66 |
Other comprehensive (loss) income, before tax: | ||||
Change in net unrealized (losses) gains during period | (0.8) | 34.9 | (67.6) | 74.1 |
Reclassification adjustment for net gains included in income | 0.1 | 0 | 0.1 | 0 |
Net change in unamortized gains on available-for-sale securities transferred into held-to-maturity | 24.8 | 0 | 24.8 | 0 |
Unrealized (gain) loss on derivatives | (0.8) | 0.2 | (0.9) | 0.2 |
Change in net actuarial loss | 0 | 0.2 | 0 | 0.4 |
Other comprehensive income (loss), before tax | 23.3 | 34.9 | (43.6) | 73.9 |
Changes in deferred taxes related to other comprehensive (loss) income | (5.9) | (9.5) | 11.1 | (19.7) |
Other comprehensive (loss) income, net of tax | 17.4 | 25.4 | (32.5) | 54.2 |
Comprehensive income, net of tax | $ 59.9 | $ 62.1 | $ 61.4 | $ 120.2 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Millions | Total | Director [Member] | Cumulative change related to the adoption of ASU 2016-13 | Cumulative effect, period of adoption, adjusted balance | Common stock | Common stockCumulative change related to the adoption of ASU 2016-13 | Common stockCumulative effect, period of adoption, adjusted balance | Retained earnings | Retained earningsCumulative change related to the adoption of ASU 2016-13 | Retained earningsCumulative effect, period of adoption, adjusted balance | Accumulated other comprehensive income (loss) | Accumulated other comprehensive income (loss)Cumulative change related to the adoption of ASU 2016-13 | Accumulated other comprehensive income (loss)Cumulative effect, period of adoption, adjusted balance |
Equity, beginning balance at Dec. 31, 2019 | $ 2,013.9 | $ (24.1) | $ 1,989.8 | $ 1,049.3 | $ 0 | $ 1,049.3 | $ 953.6 | $ (24.1) | $ 929.5 | $ 11 | $ 0 | $ 11 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Net income | 66 | 0 | 66 | 0 | |||||||||
Other comprehensive income (loss), net of tax expense | 54.2 | 0 | 0 | 54.2 | |||||||||
Common stock transactions: | |||||||||||||
Common shares purchased and retired | $ (32.6) | (32.6) | 0 | 0 | |||||||||
Common shares issued (in shares) | 19,491 | ||||||||||||
Common shares issued | $ 0 | 0 | 0 | 0 | |||||||||
Non-vested common shares issued | 0 | 0 | 0 | 0 | |||||||||
Non-vested common shares forfeited or canceled | 0 | 0 | 0 | 0 | |||||||||
Stock options exercised, net of share tendered in payment of option price and income tax withholding amounts | 0.7 | 0.7 | 0 | 0 | |||||||||
Stock-based compensation expense | 3.8 | 3.8 | 0 | 0 | |||||||||
Common cash dividend declared | (83) | 0 | (83) | 0 | |||||||||
Equity, ending balance at Jun. 30, 2020 | 1,998.9 | 1,021.2 | 912.5 | 65.2 | |||||||||
Equity, beginning balance at Mar. 31, 2020 | 1,956.1 | 1,018.7 | 897.6 | 39.8 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Net income | 36.7 | 0 | 36.7 | 0 | |||||||||
Other comprehensive income (loss), net of tax expense | 25.4 | 0 | 0 | 25.4 | |||||||||
Common stock transactions: | |||||||||||||
Common shares purchased and retired | $ 0 | 0 | 0 | 0 | |||||||||
Common shares issued (in shares) | 19,200 | ||||||||||||
Common shares issued | $ 0 | 0 | 0 | 0 | |||||||||
Non-vested common shares issued | 0 | 0 | 0 | 0 | |||||||||
Non-vested common shares forfeited or canceled | 0.1 | (0.1) | 0 | 0 | |||||||||
Stock options exercised, net of share tendered in payment of option price and income tax withholding amounts | 2.4 | 2.4 | 0 | 0 | |||||||||
Stock-based compensation expense | (21.8) | 0 | (21.8) | 0 | |||||||||
Equity, ending balance at Jun. 30, 2020 | 1,998.9 | 1,021.2 | 912.5 | 65.2 | |||||||||
Equity, beginning balance at Dec. 31, 2020 | 1,959.8 | 941.1 | 962.1 | 56.6 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Net income | 93.9 | 0 | 93.9 | 0 | |||||||||
Other comprehensive income (loss), net of tax expense | (32.5) | 0 | 0 | (32.5) | |||||||||
Common stock transactions: | |||||||||||||
Common shares purchased and retired | $ (5.4) | (5.4) | 0 | 0 | |||||||||
Common shares issued (in shares) | 19,081 | 19,081 | |||||||||||
Common shares issued | $ 0 | 0 | 0 | 0 | |||||||||
Non-vested common shares issued | 0 | 0 | 0 | 0 | |||||||||
Non-vested common shares forfeited or canceled | 0 | 0 | 0 | 0 | |||||||||
Stock options exercised, net of share tendered in payment of option price and income tax withholding amounts | 0.4 | 0.4 | 0 | 0 | |||||||||
Stock-based compensation expense | 5.5 | 5.5 | 0 | 0 | |||||||||
Common cash dividend declared | (50.8) | 0 | (50.8) | 0 | |||||||||
Equity, ending balance at Jun. 30, 2021 | 1,970.9 | 941.6 | 1,005.2 | 24.1 | |||||||||
Equity, beginning balance at Mar. 31, 2021 | 1,933.4 | 938.5 | 988.2 | 6.7 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||
Net income | 42.5 | 0 | 42.5 | 0 | |||||||||
Other comprehensive income (loss), net of tax expense | 17.4 | 0 | 0 | 17.4 | |||||||||
Common stock transactions: | |||||||||||||
Common shares purchased and retired | $ 0 | 0 | 0 | 0 | |||||||||
Common shares issued (in shares) | 18,477 | ||||||||||||
Common shares issued | $ 0 | 0 | 0 | 0 | |||||||||
Non-vested common shares forfeited or canceled | 0 | 0 | 0 | 0 | |||||||||
Stock-based compensation expense | 3.1 | 3.1 | 0 | 0 | |||||||||
Common cash dividend declared | (25.5) | 0 | (25.5) | 0 | |||||||||
Equity, ending balance at Jun. 30, 2021 | $ 1,970.9 | $ 941.6 | $ 1,005.2 | $ 24.1 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||||
Stock repurchased and retired (in shares) | 284 | 482 | 127,464 | 1,093,741 |
Common shares issued (in shares) | 18,477 | 19,200 | 19,081 | 19,491 |
Non-vested common shares issued (in shares) | 733 | 239,525 | 328,100 | |
Non-vested common shares forfeited (in shares) | 8,305 | 23,018 | 27,373 | 25,588 |
stock options exercised (in shares) | 10,917 | 40,663 | 84,268 | |
Shares tendered (in shares) | 2,949 | 6,177 | 26,124 | |
Common dividends (in dollars per share) | $ 0.41 | $ 0.34 | $ 0.82 | $ 1.28 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities: | ||
Net income | $ 93.9 | $ 66 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
(Reversal of) provision for credit losses | (5.1) | 48.5 |
Net gain on disposal of premises and equipment | (0.4) | (0.1) |
Depreciation and amortization | 22.3 | 21.2 |
Net premium amortization on investment securities | 18.3 | 5.7 |
Net gain on investment securities transactions | 0.1 | 0 |
Realized and unrealized net gains on mortgage banking activities | (10.7) | (24.9) |
Net gain on sale of investments in unrelated entities | 0 | (1) |
Net gain on sale of OREO | (0.2) | (0.5) |
Mortgage servicing rights (recovery) impairment | (5.9) | 8.4 |
Deferred taxes | (9) | 5.8 |
Net (increase) decrease in cash surrender value of company-owned life insurance | (2.6) | 0.7 |
Stock-based compensation expense | 5.5 | 3.8 |
Originations of mortgage loans held for sale | (359.3) | (757.3) |
Proceeds from sales of mortgage loans held for sale | 394.3 | 706.7 |
Changes in operating assets and liabilities: | ||
Decrease (increase) in interest receivable | 0.2 | (9.8) |
Increase in other assets | (39.3) | (49.6) |
Decrease in accrued interest payable | (0.8) | (3.3) |
(Decrease) increase in accounts payable and accrued expenses | (13.2) | 0.5 |
Net cash provided by operating activities | 106.1 | 9.2 |
Payments to Acquire Held-to-maturity Securities | (1,022.1) | 0 |
Purchases of investment securities: | ||
Available-for-sale | (1,219.9) | (1,029) |
Proceeds from sales, maturities, and pay-downs of investment securities: | ||
Held-to-maturity | 55.4 | 24.3 |
Available-for-sale | 542.5 | 739.9 |
Extensions of credit to clients, net of repayments | (37) | (1,111.8) |
Recoveries of loans charged-off | 5.7 | 3.3 |
Proceeds from sale of OREO | 1 | 3.7 |
Proceeds from sale of investments in unrelated entities | 0 | 2.2 |
Capital expenditures, net of sales | (0.3) | (12.5) |
Net cash used in investing activities | (1,674.7) | (1,379.9) |
Cash flows from financing activities: | ||
Net increase in deposits | 1,348.7 | 1,676.9 |
Net (decrease) increase in securities sold under repurchase agreements | (52.7) | 58.5 |
Repayments of long-term debt | 0 | (0.1) |
Advances on long-term debt | 0 | 98.5 |
Proceeds from issuance of common stock | 0.4 | 0.7 |
Purchase and retirement of common stock | (5.4) | (32.6) |
Dividends paid to common stockholders | (50.8) | (83) |
Net cash provided by financing activities | 1,240.2 | 1,718.9 |
Net (decrease) increase in cash and cash equivalents | (328.4) | 348.2 |
Cash and cash equivalents at beginning of period | 2,276.8 | 1,076.8 |
Cash and cash equivalents at end of period | 1,948.4 | 1,425 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for income taxes | 35.7 | 24.5 |
Cash paid during the period for interest expense | 9.8 | 18.7 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Right-of-use assets obtained in exchange for operating lease liabilities | 0.4 | 3.3 |
Net change in unamortized gains on available-for-sale securities transferred into held-to-maturity | 24.8 | 0 |
Transfer of loans to other real estate owned | 0.3 | 1.2 |
Capitalization of internally originated mortgage servicing rights | $ 0.9 | $ 6.3 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation In the opinion of management, the accompanying unaudited consolidated financial statements of First Interstate BancSystem, Inc., First Interstate Bank (“FIB”), and its other subsidiaries (collectively, 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, 2021 and December 31, 2020, the results of operations, changes in stockholders’ equity, and cash flows for each of the three and six month periods ended June 30, 2021 and 2020, in conformity with U.S. generally accepted accounting principles (“GAAP”). The balance sheet information at December 31, 2020 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, 2021 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, 2020, which includes a description of significant accounting policies. Operating results for the three and six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. |
Investment Securities
Investment Securities | 6 Months Ended |
Jun. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The amortized cost and the approximate fair values of investment securities are summarized as follows: June 30, 2021 Amortized Gross Gross Estimated Available-for-Sale: U.S. Treasury notes $ 497.1 $ — $ (0.2) $ 496.9 State, county, and municipal securities 449.2 2.5 (7.2) 444.5 Obligations of U.S. government agencies 333.2 0.4 (6.7) 326.9 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 2,064.7 29.4 (11.9) 2,082.2 Private mortgage-backed securities 16.9 0.1 — 17.0 Collateralized loan obligations 187.3 — — 187.3 Corporate securities 401.0 4.6 (2.6) 403.0 Total $ 3,949.4 $ 37.0 $ (28.6) $ 3,957.8 June 30, 2021 Amortized Gross Gross Estimated Held-to-Maturity: State, county, and municipal securities $ 72.4 $ 2.6 $ (0.5) $ 74.5 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations (1) 1,591.5 22.4 (8.6) 1,605.3 Corporate securities (1) 21.6 0.5 — 22.1 Total $ 1,685.5 $ 25.5 $ (9.1) $ 1,701.9 (1) Amortized costs presented above include $24.4 million and $0.4 million of unamortized gains in U.S. agency residential mortgage-backed securities and collateralized mortgage obligations and Corporate securities, respectively, related to the 2021 second quarter transfer of securities from available-for-sale to held-to-maturity. December 31, 2020 Amortized Gross Gross Estimated Available-for-Sale: State, county, and municipal securities $ 462.1 $ 4.8 $ (1.0) $ 465.9 Obligations of U.S. government agencies 332.9 1.0 (2.0) 331.9 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 2,830.8 69.3 (2.5) 2,897.6 Private mortgage-backed securities 10.9 0.1 (0.1) 10.9 Corporate securities 295.8 6.5 (0.1) 302.2 Other investments 0.2 — — 0.2 Total $ 3,932.7 $ 81.7 $ (5.7) $ 4,008.7 December 31, 2020 Amortized Gross Gross Estimated Held-to-Maturity: State, county, and municipal securities $ 46.6 $ 3.2 $ — $ 49.8 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 1.0 0.1 — 1.1 Corporate securities 3.9 0.1 — 4.0 Other investments 0.1 — — 0.1 Total $ 51.6 $ 3.4 $ — $ 55.0 On June 7, 2021, the Company transferred debt securities with an amortized cost of $646.7 million and an estimated fair value of $672.2 million from the available-for-sale to the held-to-maturity classification. These securities consisted of residential mortgage-backed securities and collateralized mortgage obligations ($629.4 million amortized cost and $654.5 million estimated fair value) and corporate securities ($17.3 million amortized cost and $17.7 million estimated fair value) and were transferred as the Company has the positive intent and ability to hold these securities to maturity. The transfer of debt securities into the held-to-maturity category was recorded at fair value on the date of transfer. The net unrealized gains on the transfer date are included in accumulated other comprehensive income and are being accreted over the remaining lives of the securities. This accretion is expected to offset the amortization of the related premium created by the investment securities transfer into the held-to-maturity classification, with no expected impact on future net income. There were no material gross realized gains and no material gross losses on the disposition of available-for-sale investment securities during the three and six month periods ended June 30, 2021 and 2020. As of June 30, 2021, the Company had general obligation securities with amortized costs of $59.1 million included in state, county, and municipal securities, of which $41.6 million, or 70.4%, were issued by political subdivisions or agencies within the states of Idaho, Montana, Oregon, South Dakota, Washington, and Wyoming. 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 an unrealized loss position as of June 30, 2021 and December 31, 2020. There were no held-to-maturity securities in an unrealized loss position at December 31, 2020. Less than 12 Months 12 Months or More Total June 30, 2021 Fair Gross Fair Gross Fair Gross Available-for-Sale: U.S. Treasury notes $ 496.9 $ (0.2) $ — $ — $ 496.9 $ (0.2) State, county, and municipal securities 260.3 (7.2) — — 260.3 (7.2) Obligations of U.S. government agencies 293.7 (6.7) — — 293.7 (6.7) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 870.9 (11.9) — — 870.9 (11.9) Corporate securities 196.2 (2.6) — — 196.2 (2.6) Total $ 2,118.0 $ (28.6) $ — $ — $ 2,118.0 $ (28.6) Less than 12 Months 12 Months or More Total June 30, 2021 Fair Gross Fair Gross Fair Gross Held-to-Maturity: U.S. agency residential mortgage-backed securities & collateralized mortgage obligations $ 742.0 $ (8.6) $ — $ — $ 742.0 $ (8.6) State, county, and municipal securities 29.3 (0.5) — — 29.3 (0.5) Total $ 771.3 $ (9.1) $ — $ — $ 771.3 $ (9.1) Less than 12 Months 12 Months or More Total December 31, 2020 Fair Gross Fair Gross Fair Gross Available-for-Sale: State, county, and municipal securities $ 148.1 $ (1.0) $ — $ — $ 148.1 $ (1.0) Obligations of U.S. government agencies 235.6 (2.0) — — 235.6 (2.0) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 434.0 (2.4) 12.3 (0.1) 446.3 (2.5) Private mortgage-backed securities — — 4.3 (0.1) 4.3 (0.1) Corporate securities 20.9 (0.1) — — 20.9 (0.1) Total $ 838.6 $ (5.5) $ 16.6 $ (0.2) $ 855.2 $ (5.7) The available-for-sale securities portfolio contains securities that are guaranteed by a sovereign entity or are generally considered to have non-credit related risks, such as interest rate risk or prepayment and liquidity factors. The Company considers whether the securities are issued by the federal government or its agencies and whether downgrades by bond rating agencies have occurred. The unrealized losses are due to changes in interest rates and other market conditions. As of June 30, 2021 and December 31, 2020, the Company had 260 and 181 individual investment securities, respectively, that were in an unrealized loss position, related primarily to fluctuations in current interest rates. As of June 30, 2021, 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 intend to sell any of the available-for-sale securities in the above table and the Company does not anticipate it will have to sell any securities before a recovery in cost. There were no material allowances for credit loss as of June 30, 2021 or December 31, 2020 for available-for-sale or held-to-maturity securities. Maturities of securities do not reflect rate repricing opportunities present in adjustable-rate mortgage-backed securities. In the table below, the Company had variable rate mortgage-backed and corporate securities which had an amortized cost of $291.6 million and were classified as available-for-sale as of June 30, 2021. 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, 2021 Amortized Estimated Amortized Estimated Within one year $ 624.8 $ 723.9 $ 682.2 $ 688.1 After one year but within five years 1,516.3 1,626.9 393.3 398.2 After five years but within ten years 1,062.4 935.5 272.9 276.0 After ten years 745.9 671.5 337.1 339.6 Total $ 3,949.4 $ 3,957.8 $ 1,685.5 $ 1,701.9 As of June 30, 2021, the Company held investment securities callable within one year with amortized costs and estimated fair values of $151.2 million and $149.1 million, respectively. These investment securities are primarily included in the “after five years but within ten years” category in the table above. As of June 30, 2021, the Company held no callable structured notes. As of June 30, 2021 and December 31, 2020, the Company recorded amortized costs of $2,425.7 million and $2,323.0 million, respectively, for investment securities pledged to secure public deposits and securities sold under repurchase agreements and had approximate fair values as of June 30, 2021 and December 31, 2020 of $2,456.0 million and $2,383.6 million, respectively. All securities sold under repurchase agreements are with clients and mature on the next banking day. The Company retains possession of the underlying securities sold under repurchase agreements. |
Loans Held for Investment
Loans Held for Investment | 6 Months Ended |
Jun. 30, 2021 | |
Receivables [Abstract] | |
Loans | Loans Held for Investment The following table presents loans by segment as of the dates indicated: June 30, December 31, Real estate loans: Commercial $ 3,753.4 $ 3,743.2 Construction loans: Land acquisition & development 261.1 265.0 Residential 263.5 250.9 Commercial 632.0 523.5 Total construction loans 1,156.6 1,039.4 Residential 1,577.7 1,396.3 Agricultural 223.5 220.6 Total real estate loans 6,711.2 6,399.5 Consumer loans: Indirect 773.7 805.1 Direct and advance lines 134.8 150.6 Credit card 64.4 70.2 Total consumer loans 972.9 1,025.9 Commercial 1,959.4 2,153.9 Agricultural 217.7 247.6 Other, including overdrafts 6.0 1.6 Loans held for investment 9,867.2 9,828.5 Deferred loan fees and costs (32.5) (21.0) Loans held for investment, net of deferred fees and costs 9,834.7 9,807.5 Allowance for credit losses (135.5) (144.3) Net loans held for investment $ 9,699.2 $ 9,663.2 Allowance for Credit Losses The following tables represent, by loan portfolio segment, the activity in the allowance for credit losses for loans held for investment: Three Months Ended June 30, 2021 Beginning Balance Provision for (reversal of) Credit Loss Loans Charged-Off Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 23.0 $ (0.2) $ — $ 0.1 $ 22.9 Owner occupied 17.4 1.4 (2.2) — 16.6 Multi-family 11.8 (0.2) — — 11.6 Total commercial real estate 52.2 1.0 (2.2) 0.1 51.1 Construction: Land acquisition & development 1.2 (0.4) (0.1) 0.3 1.0 Residential construction 1.4 0.2 (0.1) — 1.5 Commercial construction 7.2 0.9 (0.1) — 8.0 Total construction 9.8 0.7 (0.3) 0.3 10.5 Residential real estate: Residential 1-4 family 11.5 1.9 — — 13.4 Home equity and HELOC 1.4 (0.1) — 0.1 1.4 Total residential real estate 12.9 1.8 — 0.1 14.8 Agricultural real estate 2.8 0.2 — — 3.0 Total real estate 77.7 3.7 (2.5) 0.5 79.4 Consumer: Indirect 16.0 (0.2) (0.8) 0.8 15.8 Direct and advance lines 4.8 — (0.4) 0.2 4.6 Credit card 1.5 0.3 (0.4) 0.2 1.6 Total consumer 22.3 0.1 (1.6) 1.2 22.0 Commercial: Commercial and floor plans 31.0 (3.4) (0.3) 1.7 29.0 Commercial purpose secured by 1-4 family 4.7 (0.4) (0.1) 0.2 4.4 Credit card 0.3 — (0.1) 0.1 0.3 Total commercial 36.0 (3.8) (0.5) 2.0 33.7 Agricultural: Agricultural 0.6 — (0.2) — 0.4 Total agricultural 0.6 — (0.2) — 0.4 Total allowance for credit losses $ 136.6 $ — $ (4.8) $ 3.7 $ 135.5 (1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report. Six Months Ended June 30, 2021 Beginning Balance Provision for (reversal of) Credit Loss Loans Charged-Off Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 25.5 $ (2.7) $ — $ 0.1 $ 22.9 Owner occupied 18.3 0.6 (2.3) — 16.6 Multi-family 11.0 0.6 — — 11.6 Total commercial real estate 54.8 (1.5) (2.3) 0.1 51.1 Construction: Land acquisition & development 1.3 (0.6) (0.1) 0.4 1.0 Residential construction 1.6 — (0.1) — 1.5 Commercial construction 7.3 0.7 (0.1) 0.1 8.0 Total construction 10.2 0.1 (0.3) 0.5 10.5 Residential real estate: Residential 1-4 family 11.4 2.0 — — 13.4 Home equity and HELOC 1.4 (0.1) (0.1) 0.2 1.4 Total residential real estate 12.8 1.9 (0.1) 0.2 14.8 Agricultural real estate 2.7 0.3 — — 3.0 Total real estate 80.5 0.8 (2.7) 0.8 79.4 Consumer: Indirect 16.7 (0.2) (2.1) 1.4 15.8 Direct and advance lines 4.6 0.7 (1.2) 0.5 4.6 Credit card 2.6 (0.4) (1.0) 0.4 1.6 Total consumer 23.9 0.1 (4.3) 2.3 22.0 Commercial: Commercial and floor plans 34.2 (5.2) (2.1) 2.1 29.0 Commercial purpose secured by 1-4 family 4.7 (0.6) (0.1) 0.4 4.4 Credit card 0.3 0.2 (0.3) 0.1 0.3 Total commercial 39.2 (5.6) (2.5) 2.6 33.7 Agricultural: Agricultural 0.7 (0.1) (0.2) — 0.4 Total agricultural 0.7 (0.1) (0.2) — 0.4 Total allowance for credit losses $ 144.3 $ (4.8) $ (9.7) $ 5.7 $ 135.5 (1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report. Three Months Ended June 30, 2020 Beginning Balance Provision for Credit Loss Expense Loans Charged-Off Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 15.7 $ 7.9 $ — $ — $ 23.6 Owner occupied 15.7 3.4 (0.1) 0.1 19.1 Multi-family 8.1 0.4 — — 8.5 Total commercial real estate 39.5 11.7 (0.1) 0.1 51.2 Construction: Land acquisition & development 1.4 0.1 — — 1.5 Residential construction 1.1 0.2 — — 1.3 Commercial construction 6.1 0.2 — — 6.3 Total construction 8.6 0.5 — — 9.1 Residential real estate: Residential 1-4 family 12.9 (2.7) — 0.1 10.3 Home equity and HELOC 1.4 — — 0.1 1.5 Total residential real estate 14.3 (2.7) — 0.2 11.8 Agricultural real estate 2.6 0.5 — — 3.1 Total real estate 65.0 10.0 (0.1) 0.3 75.2 Consumer: Indirect 16.7 0.5 (1.2) 0.4 16.4 Direct and advance lines 5.5 0.3 (1.0) 0.3 5.1 Credit card 2.6 — (0.8) 0.2 2.0 Total consumer 24.8 0.8 (3.0) 0.9 23.5 Commercial: Commercial and floor plans 33.5 7.7 (0.6) 0.4 41.0 Commercial purpose secured by 1-4 family 4.4 0.6 — 0.1 5.1 Credit card 0.3 0.3 (0.3) 0.1 0.4 Total commercial 38.2 8.6 (0.9) 0.6 46.5 Agricultural: Agricultural 1.1 (0.1) (0.1) — 0.9 Total agricultural 1.1 (0.1) (0.1) — 0.9 Total allowance for credit losses $ 129.1 $ 19.3 $ (4.1) $ 1.8 $ 146.1 (1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report. Six Months Ended June 30, 2020 Beginning Balance Impact of Adopting ASC 326 Provision for Credit Loss Expense Loans Charged-Off Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 8.8 $ 4.9 $ 9.9 $ — $ — $ 23.6 Owner occupied 10.0 3.5 5.6 (0.1) 0.1 19.1 Multi-family 0.7 6.9 0.9 — — 8.5 Total commercial real estate 19.5 15.3 16.4 (0.1) 0.1 51.2 Construction: Land acquisition & development 1.9 (0.1) 0.2 (0.5) — 1.5 Residential construction 1.5 (0.9) 0.7 — — 1.3 Commercial construction 2.7 1.3 2.3 — — 6.3 Total construction 6.1 0.3 3.2 (0.5) — 9.1 Residential real estate: Residential 1-4 family 1.8 10.6 (2.2) — 0.1 10.3 Home equity and HELOC 1.0 0.5 (0.1) — 0.1 1.5 Total residential real estate 2.8 11.1 (2.3) — 0.2 11.8 Agricultural real estate 0.5 1.8 0.8 — — 3.1 Total real estate 28.9 28.5 18.1 (0.6) 0.3 75.2 Consumer: Indirect 4.5 8.8 4.4 (2.4) 1.1 16.4 Direct and advance lines 2.9 3.0 0.7 (2.0) 0.5 5.1 Credit card 2.5 0.3 0.4 (1.6) 0.4 2.0 Total consumer 9.9 12.1 5.5 (6.0) 2.0 23.5 Commercial: Commercial and floor plans 25.5 (5.1) 21.2 (1.4) 0.8 41.0 Commercial purpose secured by 1-4 family 5.9 (3.8) 3.0 (0.1) 0.1 5.1 Credit card 1.2 (1.1) 0.7 (0.5) 0.1 0.4 Total commercial 32.6 (10.0) 24.9 (2.0) 1.0 46.5 Agricultural: Agricultural 1.6 (0.6) — (0.1) — 0.9 Total agricultural 1.6 (0.6) — (0.1) — 0.9 Total allowance for credit losses $ 73.0 $ 30.0 $ 48.5 $ (8.7) $ 3.3 $ 146.1 (1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report. Collateral-Dependent Financial Loans A collateral-dependent financial loan relies solely on the operation or sale of the collateral for repayment. In evaluating the overall risk associated with a loan, the Company considers (1) character, overall financial condition and resources, and payment record of the borrower; (2) the prospects for support from any financially responsible guarantors; and (3) the nature and degree of protection provided by the cash flow and value of any underlying collateral. The loan may become collateral-dependent when the borrower is experiencing financial difficulty and, as sources of repayment become inadequate over time, the Company develops an expectation that repayment will be provided substantially through the operation or sale of the collateral. The following tables present the amortized cost basis of collateral-dependent loans by class of loans as of the dates indicated: Collateral Type As of June 30, 2021 Business Assets Real Property Other Total Real estate $ 1.3 $ 9.6 $ — $ 10.9 Commercial 3.1 1.0 — 4.1 Agricultural — 0.7 — 0.7 Total collateral-dependent $ 4.4 $ 11.3 $ — $ 15.7 Collateral Type As of December 31, 2020 Business Assets Real Property Other Total Real estate $ 1.3 $ 6.5 $ 1.1 $ 8.9 Commercial 6.1 1.3 0.4 7.8 Agricultural — 0.8 — 0.8 Total collateral-dependent $ 7.4 $ 8.6 $ 1.5 $ 17.5 Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans classified in the following table as greater than 90 days past due continue to accrue interest. The following tables present the contractual aging of the Company’s recorded amortized cost basis in loans by portfolio 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, 2021 Past Due Past Due Past Due Past Due Loans Loans (1) Loans Real estate Commercial $ 2.8 $ 0.4 $ 0.4 $ 3.6 $ 3,740.5 $ 9.3 $ 3,753.4 Construction: Land acquisition & development 0.5 — — 0.5 260.1 0.5 261.1 Residential 0.2 — 0.4 0.6 262.9 — 263.5 Commercial 2.1 1.7 — 3.8 628.2 — 632.0 Total construction loans 2.8 1.7 0.4 4.9 1,151.2 0.5 1,156.6 Residential 0.7 1.4 1.2 3.3 1,571.2 3.2 1,577.7 Agricultural — — 0.1 0.1 217.4 6.0 223.5 Total real estate loans 6.3 3.5 2.1 11.9 6,680.3 19.0 6,711.2 Consumer: Indirect consumer 3.3 0.8 0.2 4.3 767.7 1.7 773.7 Other consumer 0.4 0.1 0.2 0.7 133.9 0.2 134.8 Credit card 0.5 0.2 0.3 1.0 63.4 — 64.4 Total consumer loans 4.2 1.1 0.7 6.0 965.0 1.9 972.9 Commercial 3.6 2.3 2.1 8.0 1,944.1 7.3 1,959.4 Agricultural 0.8 0.3 0.3 1.4 214.1 2.2 217.7 Other, including overdrafts — — — — 6.0 — 6.0 Loans held for investment $ 14.9 $ 7.2 $ 5.2 $ 27.3 $ 9,809.5 $ 30.4 $ 9,867.2 Total Loans 30 - 59 60 - 89 > 90 30 or More Days Days Days Days Current Non-accrual Total As of December 31, 2020 Past Due Past Due Past Due Past Due Loans Loans (1) Loans Real estate Commercial $ 7.6 $ 1.2 $ 4.0 $ 12.8 $ 3,720.8 $ 9.6 $ 3,743.2 Construction: Land acquisition & development 2.5 1.1 0.1 3.7 260.6 0.7 265.0 Residential 1.5 0.4 — 1.9 247.9 1.1 250.9 Commercial 12.2 — — 12.2 511.2 0.1 523.5 Total construction loans 16.2 1.5 0.1 17.8 1,019.7 1.9 1,039.4 Residential 4.7 1.6 0.5 6.8 1,384.9 4.6 1,396.3 Agricultural 2.0 — — 2.0 212.4 6.2 220.6 Total real estate loans 30.5 4.3 4.6 39.4 6,337.8 22.3 6,399.5 Consumer: Indirect consumer 6.4 2.0 0.5 8.9 794.3 1.9 805.1 Other consumer 0.8 0.2 0.2 1.2 149.0 0.4 150.6 Credit card 0.6 0.4 0.6 1.6 68.6 — 70.2 Total consumer loans 7.8 2.6 1.3 11.7 1,011.9 2.3 1,025.9 Commercial 6.2 1.8 1.2 9.2 2,132.9 11.8 2,153.9 Agricultural 0.4 0.6 1.4 2.4 242.1 3.1 247.6 Other, including overdrafts — — — — 1.6 — 1.6 Loans held for investment $ 44.9 $ 9.3 $ 8.5 $ 62.7 $ 9,726.3 $ 39.5 $ 9,828.5 (1) As of June 30, 2021 and December 31, 2020, none of our non-accrual loans were earning interest income. Additionally, no material interest income was recognized on non-accrual loans during the three and six months ended June 30, 2021 and 2020, respectively, and no material accrued interest was reversed at June 30, 2021 and 2020, respectively. Troubled Debt Restructurings 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 in connection with the ongoing loan collection processes. Loan modifications typically include adjustments to certain terms including interest rate changes, 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 under other circumstances. Certain troubled loans are on non-accrual status at the time of debt restructuring. These restructured loans may be returned to accrual status if the borrower has sustained repayment performance as required under the restructuring agreement for a period of at least six months and management is reasonably assured of the borrower’s future performance. If the troubled debt restructuring meets these performance criteria, and the interest rate granted at the modification date is equal to or greater than the rate that the Company might grant for a new loan at the time of the restructuring at comparable risk, then the loan will be reclassified to performing status and the accrual of interest will resume. Loans that return to performing status will continue to be individually evaluated for credit deterioration in the ordinary course of business. The 2020 Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provided financial institutions with options on the treatment of troubled debt restructurings, and the Company elected to apply these options at the individual loan level. Under the CARES Act, the Company can elect: (1) to suspend the requirements under GAAP for loan modifications related to the COVID–19 pandemic that would otherwise be categorized as a troubled debt restructuring; and/or (2) to suspend any determination of a loan modified as being a troubled debt restructuring as a result of the effects of the COVID–19 pandemic, including impairment for accounting purposes. If the Company elects a suspension noted above, the suspension (a) will be effective for the term of the loan modification, but solely with respect to any modification, including a forbearance arrangement, an interest rate modification, a repayment plan, and any other similar arrangement that defers or delays the payment of principal or interest, occurring for a loan that was not more than 30 days past due as of December 31, 2019; and (b) will not apply to any adverse impact on the credit of a borrower that is not related to the COVID–19 pandemic. These suspensions end the earlier of January 1, 2022 or the date that is 60 days after the termination of the national emergency. The Company renegotiated loans in troubled debt restructurings in the amount of $7.2 million as of June 30, 2021, of which $5.0 million were included in non-accrual loans and $2.2 million were on accrual status. As of June 30, 2021, the Company allocated $0.2 million of allowance for credit losses to those loans and the Company had no material commitments to lend additional funds to borrowers whose existing loans have been renegotiated or are classified as non-accrual. The Company renegotiated loans in troubled debt restructurings in the amount of $14.5 million as of December 31, 2020, of which $11.3 million were included in non-accrual loans and $3.2 million were on accrual status. As of December 31, 2020, the Company allocated $2.9 million of allowance for credit losses to those loans and the Company had no material commitments to lend additional funds to borrowers whose existing loans have been renegotiated or are classified as non-accrual. The Company had no material new troubled debt restructurings during the three and six months ended June 30, 2021. For troubled debt restructurings that were on non-accrual status or otherwise deemed collateral-dependent before a modification, the Company may have already recorded an allowance for credit losses. In periods subsequent to modification, the Company continues to evaluate all troubled debt restructurings for possible credit deterioration and, where deterioration is observed, recognizes credit loss through the allowance. Additionally, the Company continues to work these loans 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, 2021 or 2020. The Company had no material troubled debt restructurings during the previous 12 months for which there was a payment default during the three and six months ended June 30, 2021. The Company considers a payment default to occur on troubled debt restructurings when the loan is 90 days or more past due or is placed on non-accrual status after the modification. The terms of certain other loans were modified during the quarter ended June 30, 2021 where the loan did not meet the definition of a troubled debt restructuring and the borrowers had not been experiencing financial difficulties. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. These loans have a total recorded investment of $67.4 million as of June 30, 2021. In order to determine whether a borrower is experiencing financial difficulty, the Company evaluates the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. Credit Quality Indicators 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 based on relevant information about the ability of borrowers to service their debt including, among other factors, current financial information, historical payment experience, credit documentation, public information, and current economic trends. The Company analyzes loans individually to classify the credit risk of the loans. This analysis generally includes loans with an outstanding balance greater than $1.0 million, which are generally considered non-homogeneous loans, such as commercial loans and commercial real estate loans. This analysis is performed no less than on an annual basis, depending upon the size of exposure and the contractual obligations governing the borrower’s financial reporting frequency. Homogeneous loans, including small business loans, are typically managed by payment performance. The Company internally risk rates its loans in accordance with a Uniform Classification System developed jointly by the various bank regulatory agencies. The Uniform Classification System defines three broad categories of criticized assets, which the Company uses as credit quality indicators in addition to the 6 Pass ratings in its 10-point rating scale: Special Mention — includes loans that exhibit a potential weakness in financial condition, loan structure, or documentation that warrants management’s close attention. If not promptly corrected, the potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard — includes loans that are inadequately protected by the current net worth and paying capacity of the borrower which have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Although the primary source of repayment for a substandard loan may not currently be 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 on the basis of currently existing facts, conditions, and values to a point where collection or liquidation for full repayment is highly questionable and improbable. Doubtful loans are required to be placed on non-accrual status and are assigned specific loss exposure. Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass-rated loans. The Company evaluates the credit quality and loan performance for the allowance for credit loan losses of the following segments based on the aforementioned risk scale: June 30, 2021 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Commercial real estate non-owner occupied: Pass $ 268.2 $ 471.8 $ 282.7 $ 165.2 $ 93.1 $ 426.4 $ 10.0 $ 1,717.4 Special mention — 1.8 2.3 0.7 — 17.4 — 22.2 Substandard 3.9 15.6 2.4 1.0 1.1 13.2 — 37.2 Total $ 272.1 $ 489.2 $ 287.4 $ 166.9 $ 94.2 $ 457.0 $ 10.0 $ 1,776.8 Commercial real estate owner occupied: Pass $ 194.4 $ 345.8 $ 268.1 $ 177.5 $ 111.2 $ 412.0 $ 8.2 $ 1,517.2 Special mention 1.4 5.8 2.4 4.0 3.2 25.9 — 42.7 Substandard 1.5 5.1 6.7 10.8 2.9 23.6 0.1 50.7 Doubtful — — — — 0.1 — — 0.1 Total $ 197.3 $ 356.7 $ 277.2 $ 192.3 $ 117.4 $ 461.5 $ 8.3 $ 1,610.7 Commercial multi-family: Pass $ 43.7 $ 116.4 $ 51.1 $ 22.2 $ 37.8 $ 93.5 $ 1.2 $ 365.9 Total $ 43.7 $ 116.4 $ 51.1 $ 22.2 $ 37.8 $ 93.5 $ 1.2 $ 365.9 Land, acquisition and development: Pass $ 58.3 $ 84.7 $ 46.4 $ 19.1 $ 23.1 $ 26.0 $ 0.2 $ 257.8 Special mention 1.0 0.2 — — 0.1 — — 1.3 Substandard 0.6 0.2 — 0.8 0.1 0.2 0.1 2.0 Total $ 59.9 $ 85.1 $ 46.4 $ 19.9 $ 23.3 $ 26.2 $ 0.3 $ 261.1 Residential construction: Pass $ 76.4 $ 36.9 $ 46.6 $ 1.0 $ 2.4 $ 0.1 $ 99.9 $ 263.3 Substandard 0.2 — — — — — — 0.2 Total $ 76.6 $ 36.9 $ 46.6 $ 1.0 $ 2.4 $ 0.1 $ 99.9 $ 263.5 Commercial construction: Pass $ 134.7 $ 270.1 $ 174.9 $ 27.7 $ 10.9 $ 5.8 $ 7.9 $ 632.0 Total $ 134.7 $ 270.1 $ 174.9 $ 27.7 $ 10.9 $ 5.8 $ 7.9 $ 632.0 June 30, 2021 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Agricultural real estate: Pass $ 38.8 $ 42.5 $ 38.8 $ 25.4 $ 13.9 $ 32.6 $ 3.4 $ 195.4 Special mention 0.1 2.1 6.4 0.6 0.2 2.0 1.0 12.4 Substandard 0.1 1.4 2.7 2.7 1.3 5.1 — 13.3 Doubtful 2.4 — — — — — — 2.4 Total $ 41.4 $ 46.0 $ 47.9 $ 28.7 $ 15.4 $ 39.7 $ 4.4 $ 223.5 Commercial and floor plans: Pass $ 733.3 $ 202.5 $ 123.0 $ 99.5 $ 57.4 $ 109.7 $ 253.3 $ 1,578.7 Special mention 0.5 14.9 1.2 2.4 5.5 3.6 4.5 32.6 Substandard 1.6 3.7 1.4 2.0 0.6 5.2 1.1 15.6 Total $ 735.4 $ 221.1 $ 125.6 $ 103.9 $ 63.5 $ 118.5 $ 258.9 $ 1,626.9 Commercial purpose secured by 1-4 family: Pass $ 34.4 $ 68.1 $ 46.8 $ 27.4 $ 18.1 $ 40.7 $ 15.6 $ 251.1 Special mention — 0.2 0.4 0.6 0.1 1.0 0.4 2.7 Substandard 1.4 1.5 1.0 1.4 0.3 1.8 0.1 7.5 Total $ 35.8 $ 69.8 $ 48.2 $ 29.4 $ 18.5 $ 43.5 $ 16.1 $ 261.3 Agricultural: Pass $ 24.7 $ 31.5 $ 11.5 $ 8.3 $ 3.9 $ 2.3 $ 112.5 $ 194.7 Special mention 9.0 0.6 0.5 0.3 — 0.3 2.4 13.1 Substandard 0.6 0.6 1.6 2.5 0.1 0.2 2.2 7.8 Doubtful — 0.5 — — — — — 0.5 Total $ 34.3 $ 33.2 $ 13.6 $ 11.1 $ 4.0 $ 2.8 $ 117.1 $ 216.1 The Company evaluates the credit quality, loan performance, and the allowance for credit loan losses of its residential and consumer loan portfolios, based primarily on the aging status of the loan and borrower payment activity. Accordingly, loans on nonaccrual status, loans past due 90 days or more and still accruing interest, and loans modified under troubled debt restructurings are considered to be nonperforming for purposes of credit quality evaluation. The following tables present the recorded investment of our other loan portfolios based on the credit risk profile of loans that are performing and loans that are nonperforming as of the periods indicated: June 30, 2021 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Residential 1-4 family: Performing $ 305.9 $ 492.2 $ 87.8 $ 39.4 $ 35.5 $ 232.3 $ — $ 1,193.1 Nonperforming — 0.3 0.4 — 0.2 1.4 — 2.3 Total $ 305.9 $ 492.5 $ 88.2 $ 39.4 $ 35.7 $ 233.7 $ — $ 1,195.4 Consumer home equity and HELOC: Performing $ 6.9 $ 9.2 $ 5.7 $ 5.6 $ 4.9 $ 15.1 $ 332.8 $ 380.2 Nonperforming — — 0.3 0.1 0.7 0.9 0.1 2.1 Total $ 6.9 $ 9.2 $ 6.0 $ 5.7 $ 5.6 $ 16.0 $ 332.9 $ 382.3 Consumer indirect: Performing $ 155.9 $ 269.0 $ 144.4 $ 87.3 $ 52.2 $ 62.9 $ — $ 771.7 Nonperforming 0.1 0.4 0.5 0.3 0.2 0.5 — 2.0 Total $ 156.0 $ 269.4 $ 144.9 $ 87.6 $ 52.4 $ 63.4 $ — $ 773.7 June 30, 2021 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Consumer direct and advance line: Performing $ 23.1 $ 36.1 $ 21.1 $ 19.6 $ 8.2 $ 10.2 $ 16.2 $ 134.5 Nonperforming — — 0.1 0.1 — 0.1 — 0.3 Total $ 23.1 $ 36.1 $ 21.2 $ 19.7 $ 8.2 $ 10.3 $ 16.2 $ 134.8 The Company considers the performance of the loan portfolio and its impact on the allowance for credit loan losses. For certain credit card loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in credit card loans based on payment activity: As of June 30, 2021 Consumer Commercial Agricultural Total Credit Card: Performing $ 64.1 $ 71.1 $ 1.6 $ 136.8 Nonperforming 0.3 0.1 — 0.4 Total $ 64.4 $ 71.2 $ 1.6 $ 137.2 There were no material purchases of portfolio loans and no material sales of loans held for investment during the three and six months ended June 30, 2021 or 2020. |
Other Real Estate Owned
Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2021 | |
Repossessed Assets [Abstract] | |
Other Real Estate Owned | Other Real Estate Owned Other real estate owned is a category of real estate owned by the Company as a result of a default by the borrower. Information with respect to the Company’s other real estate owned is reflected in the following table: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 2.2 $ 8.2 $ 2.5 $ 8.5 Additions — 0.3 0.3 1.2 Dispositions (0.2) (2.0) (0.8) (3.2) Ending balance $ 2.0 $ 6.5 $ 2.0 $ 6.5 There were no foreclosed residential real estate properties included in other real estate owned as of June 30, 2021 and December 31, 2020. The Company had recorded investments in consumer mortgage loans secured by residential real estate for which formal foreclosure proceedings were in process of foreclosure of $0.2 million as of June 30, 2021 and December 31, 2020, respectively. |
Capital Stock
Capital Stock | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Capital Stock | Capital Stock The Company had 41,720,638 shares of Class A common stock and 20,519,593 shares of Class B common stock outstanding as of June 30, 2021. The Company had 40,335,113 shares of Class A common stock and 21,760,686 shares of Class B common stock outstanding as of December 31, 2020. During the six months ended June 30, 2021, the Company issued 19,081 shares of its Class A common stock to directors for their annual service on the Company's board of directors. The aggregate value of the shares issued to directors was $0.9 million and is included in employee benefits in the consolidated statement of income and in stock-based compensation expense in the consolidated statements of changes in stockholders' equity. |
Earnings per Common Share
Earnings per Common Share | 3 Months Ended |
Mar. 31, 2021 | |
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 periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income $ 42.5 $ 36.7 $ 93.9 $ 66.0 Weighted average common shares outstanding for basic earnings per share computation 61,657,593 64,004,455 61,624,917 64,397,320 Dilutive effects of stock-based compensation 70,228 78,034 98,225 116,566 Weighted average common shares outstanding for diluted earnings per common share computation 61,727,821 64,082,489 61,723,142 64,513,886 Basic earnings per common share $ 0.69 $ 0.57 $ 1.52 $ 1.02 Diluted earnings per common share $ 0.69 $ 0.57 $ 1.52 $ 1.02 Anti-dilutive unvested time restricted stock 84,165 108,369 90,538 108,369 |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Jun. 30, 2021 | |
Banking and Thrift, Other Disclosures [Abstract] | |
Regulatory Capital | Regulatory Capital As of June 30, 2021 and December 31, 2020, the Company exceeded all capital adequacy requirements to which it is subject. Actual capital amounts and ratios for the Company and its subsidiary Bank, as of June 30, 2021 and December 31, 2020 are presented in the following tables: Actual Minimum Required for Capital Adequacy Purposes For Capital Adequacy Purposes Plus Capital Conservation Buffer Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements(1) June 30, 2021 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total risk-based capital: Consolidated $ 1,615.5 13.89 % $ 930.3 8.00 % $ 1,221.0 10.50 % $ 1,162.8 10.00 % FIB 1,445.4 12.47 927.5 8.00 1,217.4 10.50 1,159.4 10.00 Tier 1 risk-based capital: Consolidated 1,415.6 12.17 697.7 6.00 988.4 8.50 930.3 8.00 FIB 1,345.5 11.60 695.7 6.00 985.5 8.50 927.5 8.00 Common equity tier 1 risk-based capital: Consolidated 1,331.5 11.45 523.3 4.50 814.0 7.00 755.8 6.50 FIB 1,345.5 11.60 521.7 4.50 811.6 7.00 753.6 6.50 Leverage capital ratio: Consolidated 1,415.6 7.84 722.0 4.00 722.0 4.00 902.5 5.00 FIB 1,345.5 7.47 720.2 4.00 720.2 4.00 900.3 5.00 Actual Minimum Required for Capital Adequacy Purposes For Capital Adequacy Purposes Plus Capital Conservation Buffer Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements(1) December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total risk-based capital: Consolidated $ 1,575.7 14.19 % $ 888.3 8.00 % $ 1,165.8 10.50 % $ 1,110.3 10.00 % FIB 1,426.8 12.89 885.6 8.00 1,162.3 10.50 1,107.0 10.00 Tier 1 risk-based capital: Consolidated 1,369.0 12.33 666.2 6.00 943.8 8.50 888.3 8.00 FIB 1,320.1 11.93 664.2 6.00 940.9 8.50 885.6 8.00 Common equity tier 1 risk-based capital: Consolidated 1,284.9 11.57 499.6 4.50 777.2 7.00 721.7 6.50 FIB 1,320.1 11.93 498.1 4.50 774.9 7.00 719.5 6.50 Leverage capital ratio: Consolidated 1,369.0 8.16 671.0 4.00 671.0 4.00 838.7 5.00 FIB 1,320.1 7.88 669.7 4.00 669.7 4.00 837.2 5.00 (1) The ratios for the requirements to be deemed “well-capitalized” are only applicable to FIB. However, the Company manages its capital position as if the requirements apply to the consolidated company 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, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies In the normal course of business, the Company is involved in various claims and litigation. In the opinion of management, following consultation with legal counsel, the ultimate liability or disposition of all such 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, 2021, the Company had commitments under construction contracts of $5.3 million. |
Financial Instruments with Off-
Financial Instruments with Off-Balance Sheet Risk | 6 Months Ended |
Jun. 30, 2021 | |
Financial Instruments with Off-Balance Sheet Risk [Abstract] | |
Financial Instruments with Off-Balance Sheet Risk | Financial Instruments with Off-Balance Sheet Risk In the normal course of business, 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 clients. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of amounts recorded in the consolidated balance sheets. Commitments to extend credit are agreements to lend to a client 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. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a client to a third party. The credit risk involved in issuing letters of credit is essentially the same as the credit risk involved in extending loan facilities to clients. The Company’s policy for obtaining collateral, and determining the nature of such collateral, is essentially the same as in the Company’s policies for making commitments to extend credit. The estimated fair value of the obligation undertaken by the Company in issuing standby letters of credit is included in accounts payable and accrued expenses in the Company’s consolidated balance sheets. The following table presents our financial instruments with off-balance sheet risk, as well as the activity in the allowance for off-balance sheet credit losses related to those financial instruments: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 3.4 $ 2.1 $ 3.7 $ — Initial impact of adopting ASC 326 — — — 2.3 Provision for (reversal of) credit loss expense — 0.2 (0.3) — Ending balance of allowance for off-balance sheet credit losses $ 3.4 $ 2.3 $ 3.4 $ 2.3 June 30, December 31, Unused credit card lines $ 681.8 $ 682.8 Commitments to extend credit 2,522.4 2,280.0 Standby letter of credit 59.3 59.0 |
Other Comprehensive Income_Loss
Other Comprehensive Income/Loss | 3 Months Ended |
Mar. 31, 2021 | |
Equity [Abstract] | |
Other 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, 2021 2020 2021 2020 2021 2020 Investment securities available-for sale: Change in net unrealized (loss) gain during period $ (0.8) $ 34.9 $ (0.2) $ 9.5 $ (0.6) $ 25.4 Reclassification adjustment for net loss included in net income 0.1 — — — 0.1 — Net change in unamortized gains on available-for-sale securities transferred into held-to-maturity 24.8 — 6.3 — 18.5 — Unrealized gain (loss) on derivatives (0.8) 0.2 (0.2) — (0.6) 0.2 Defined benefits post-retirement benefit plan: Change in net actuarial gains — (0.2) — — — (0.2) Total other comprehensive (loss) income $ 23.3 $ 34.9 $ 5.9 $ 9.5 $ 17.4 $ 25.4 Pre-tax Tax Expense (Benefit) Net of Tax Six Months Ended June 30, 2021 2020 2021 2020 2021 2020 Investment securities available-for sale: Change in net unrealized (loss) gains during period $ (67.6) $ 74.1 $ (17.2) $ 19.8 $ (50.4) $ 54.3 Reclassification adjustment for net loss included in net income 0.1 — — — 0.1 — Net change in unamortized gains on available-for-sale securities transferred into held-to-maturity 24.8 — 6.3 — 18.5 — Unrealized gain (loss) on derivatives (0.9) 0.2 (0.2) — (0.7) 0.2 Defined benefits post-retirement benefit plan: Change in net actuarial gains — (0.4) — (0.1) — (0.3) Total other comprehensive income $ (43.6) $ 73.9 $ (11.1) $ 19.7 $ (32.5) $ 54.2 The components of accumulated other comprehensive income, net of related tax effects, are as follows: June 30, 2021 December 31, 2020 Net unrealized gains on investment securities available-for-sale $ 6.3 $ 56.8 Net unrealized gains on investment securities transferred to held-to-maturity 18.5 — Net unrealized loss on derivatives (0.7) (0.2) Net accumulated other comprehensive gains $ 24.1 $ 56.6 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2021 | |
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 be 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 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 have been no significant changes in the valuation techniques during the three and six months ended June 30, 2021 and 2020. The Company’s policy is to recognize transfers between levels as of the end of the reporting period. Transfers in and out of Level 1, Level 2, and Level 3 are recognized on the actual transfer date. There were no transfers between fair value hierarchy levels during the three and six months ended June 30, 2021 and 2020. Further details on the methods used to estimate the fair value of each class of financial instruments above are discussed below: Investment Debt 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 three-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. For purposes of potential valuation adjustments to our derivative positions, we evaluate the credit risk of our counterparties as well as ours. Accordingly, we have considered factors such as the likelihood of our default and the default of our counterparties, our net exposures and remaining contractual life, among other things, in determining if any fair value adjustments related to credit risk are required. The change in value of derivative assets and derivative liabilities attributable to credit risk was not significant during the reported periods. 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 and liabilities 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, 2021 Balance Quoted Prices in Significant Other Significant Investment debt securities available-for-sale: U.S. Treasury notes $ 496.9 $ — $ 496.9 $ — State, county, and municipal securities 444.5 — 444.5 — Obligations of U.S. government agencies 326.9 — 326.9 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 2,082.2 — 2,082.2 — Private mortgage-backed securities 17.0 — 17.0 — Collateralized loan obligations 187.3 — 187.3 — Corporate securities 403.0 — 403.0 — Loans held for sale 48.8 — 48.8 — Derivative assets: Interest rate swap contracts 42.1 — 42.1 — Interest rate lock commitments 3.0 — 3.0 — Derivative liabilities: Interest rate swap contracts 43.1 — 43.1 — Forward loan sale contracts 0.2 — 0.2 — Deferred compensation plan assets 20.8 — 20.8 — Deferred compensation plan liabilities 20.8 — 20.8 — Fair Value Measurements at Reporting Date Using As of December 31, 2020 Balance Quoted Prices in Significant Other Significant Investment debt securities available-for-sale: State, county and municipal securities $ 465.9 $ — 465.9 $ — Obligations of U.S. government agencies 331.9 — 331.9 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 2,897.6 — 2,897.6 — Private mortgage-backed securities 10.9 — 10.9 — Corporate securities 302.2 — 302.2 — Other investments 0.2 — 0.2 — Loans held for sale 74.0 — 74.0 — Derivative assets: Interest rate swap contracts 52.0 — 52.0 — Interest rate lock commitments 3.3 — 3.3 — Derivative liabilities Interest rate swap contracts 52.2 — 52.2 — Forward loan sales contracts 1.1 — 1.1 — Deferred compensation plan assets 19.1 — 19.1 — Deferred compensation plan liabilities 19.1 — 19.1 — 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 credit deterioration. 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, 2021 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Significant Collateral dependent loans $ 12.8 $ — $ — $ 12.8 Long-lived assets to be disposed of by sale 7.3 — — 7.3 Fair Value Measurements at Reporting Date Using As of December 31, 2020 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Significant Collateral dependent loans $ 14.7 $ — $ — $ 14.7 Long-lived assets to be disposed of by sale 5.3 — — 5.3 Collateral-dependent Loans. Collateral-dependent loans are reported at the fair value of the underlying collateral if repayment is expected solely from collateral. The collateral-dependent loans are reported at fair value through specific valuation allowance allocations. In addition, when it is determined that the fair value of a collateral-dependent 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 credit losses. Collateral values are estimated using independent appraisals and management estimates of current market conditions. As of June 30, 2021, certain collateral-dependent loans with a carrying value of $15.7 million were reduced by specific valuation allowance allocations of $0.7 million and partial charge-offs of $2.2 million resulting in a reported fair value of $12.8 million. As of December 31, 2020, certain collateral-dependent loans with a carrying value of $17.5 million were reduced by specific valuation allowance allocations of $2.8 million resulting in a reported fair value of $14.7 million. 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 credit 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. The Company had no material write downs on OREO properties during the six months ended June 30, 2021 and 2020, respectively. 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, 2021, the Company had long-lived assets to be disposed of by sale with carrying and fair values aggregating $7.3 million. As of December 31, 2020, the Company had long-lived assets to be disposed of by sale with carrying values aggregating $5.5 million, reduced by write-downs of $0.2 million, resulting in a fair value of $5.3 million. 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, 2021 December 31, 2020 Valuation Unobservable Range Collateral dependent loans $ 12.8 $ 14.7 Appraisal Appraisal adjustment 0% - 18% (9%) Long-lived assets to be disposed of by sale 7.3 5.3 Appraisal Appraisal adjustment 0% - 0% 0% 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 using an exit price notion. 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 that are currently offered for deposits that have 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 that have 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, and are segregated by the level of the valuation inputs within the fair value hierarchy that are utilized to measure fair value, are as follows: Fair Value Measurements at Reporting Date Using As of June 30, 2021 Carrying Amount Estimated Quoted Prices in Active Markets for Significant Other Significant Financial assets: Cash and cash equivalents $ 1,948.4 $ 1,948.4 $ 1,948.4 $ — $ — Investment debt securities available-for-sale 3,957.8 3,957.8 — 3,957.8 — Investment debt securities held-to-maturity 1,685.5 1,701.9 — 1,701.9 — Accrued interest receivable 50.9 50.9 — 50.9 — Mortgage servicing rights, net 27.4 27.4 — 27.4 — Loans held for sale 48.8 48.8 — 48.8 — Net loans held for investment 9,699.2 9,749.0 — 9,736.2 12.8 Derivative assets 45.1 45.1 — 45.1 — Deferred compensation plan assets 20.8 20.8 — 20.8 — Total financial assets $ 17,483.9 $ 17,550.1 $ 1,948.4 $ 15,588.9 $ 12.8 Financial liabilities: Total deposits, excluding time deposits $ 14,554.2 $ 14,554.2 $ 14,554.2 $ — $ — Time deposits 1,011.5 1,011.7 — 1,011.7 — Securities sold under repurchase agreements 1,038.7 1,038.7 — 1,038.7 — Accrued interest payable 5.0 5.0 — 5.0 — Long-term debt 112.4 121.1 — 121.1 — Subordinated debentures held by subsidiary trusts 87.0 83.0 — 83.0 — Derivative liabilities 43.3 43.3 — 43.3 — Deferred compensation plan liabilities 20.8 20.8 — 20.8 — Total financial liabilities $ 16,872.9 $ 16,877.8 $ 14,554.2 $ 2,323.6 $ — Fair Value Measurements at Reporting Date Using As of December 31, 2020 Carrying Amount Estimated Quoted Prices in Active Markets for Significant Other Significant Financial assets: Cash and cash equivalents $ 2,276.8 $ 2,276.8 $ 2,276.8 $ — $ — Investment debt securities available-for-sale 4,008.7 4,008.7 — 4,008.7 — Investment debt securities held-to-maturity 51.6 55.0 — 55.0 — Accrued interest receivable 51.1 51.1 — 51.1 — Mortgage servicing rights, net 24.0 24.0 — 24.0 — Loans held for sale 74.0 74.0 — 74.0 — Net loans held for investment 9,663.2 9,785.6 — 9,770.9 14.7 Derivative assets 55.3 55.3 — 55.3 — Deferred compensation plan assets 19.1 19.1 — 19.1 — Total financial assets $ 16,223.8 $ 16,349.6 $ 2,276.8 $ 14,058.1 $ 14.7 Financial liabilities: Total deposits, excluding time deposits $ 13,158.3 $ 13,158.3 $ 13,158.3 $ — $ — Time deposits 1,058.7 1,061.1 — 1,061.1 — Securities sold under repurchase agreements 1,091.4 1,091.4 — 1,091.4 — Accrued interest payable 5.8 5.8 — 5.8 — Long-term debt 112.4 116.5 — 116.5 — Subordinated debentures held by subsidiary trusts 87.0 81.3 — 81.3 — Derivative liabilities 53.3 53.3 — 53.3 — Deferred compensation plan liabilities 19.1 19.1 — 19.1 — Total financial liabilities $ 15,586.0 $ 15,586.8 $ 13,158.3 $ 2,428.5 $ — |
Recent Authoritative Accounting
Recent Authoritative Accounting Guidance | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Recent Authoritative Accounting Guidance | Recent Authoritative Accounting Guidance ASU 2018-14, “Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans.” In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General: Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans (ASU 2018-14). The amendments in this ASU remove disclosures that no longer are considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements that have been identified as meeting the requirements. Although narrow in scope, the amendments are considered an important part of the Board’s efforts to improve the effectiveness of disclosures in the notes to financial statements by applying the concepts discussed in the Concepts Statement. The amendments in this ASU are effective for public business entities with fiscal years ending after December 15, 2020. The amendments in this ASU became effective for the Company on January 1, 2021 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2020-04, “Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Accounting.” In March 2020, the FASB issued ASU 2020-04, which provides temporary exceptions that are optional for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate, with such modification considered to be "minor" so that any existing unamortized origination fees/costs will carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications will not be accounted for as separate contracts. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. An entity may elect to apply ASU 2020-04 for contract modifications as of January 1, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic within the Codification, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company adopted certain elections related to cash flow hedges which did not have a significant impact on the Company’s financial position or results of operations. The Company is currently evaluating the impact the adoption of other expedients in the standard and does not anticipate it will have a significant impact on the Company’s financial position or results of operations. ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs.” In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs, that clarifies when an entity should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The amendments in this ASU became effective for the Company on January 1, 2021 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2021-01, “Reference Rate Reform (Topic 848)” In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform Topic 848, that clarifies certain exceptions that are optional in Topic 848 for contract modifications and hedge accounting and apply those exceptions to derivatives that are affected by the discounting transition. An entity may elect to apply the amendments in this ASU on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final ASU. If an entity elects to apply any of the amendments in this ASU for an eligible hedging relationship, any adjustments as a result of those elections must be reflected as of the date the entity applies the election. The amendments in this ASU do not apply to contract modifications made, new hedging relationships entered into, or existing hedging relationships evaluated for effectiveness in periods after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that apply certain exceptions that are optional in which the accounting effects of the hedging activity are recorded through the end of the hedging relationship (including periods after December 31, 2022). The Company is currently evaluating the impact of the standard and does not anticipate it will have a significant impact on the Company’s financial position or results of operations. |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Subsequent events have been evaluated for potential recognition and disclosure through the date the Company’s financial statements were filed with the SEC. On July 26, 2021, the Company declared a quarterly dividend to common shareholders of $0.41 per share, to be paid on August 19, 2021 to shareholders of record as of August 9, 2021. No other undisclosed events requiring recognition or disclosure were identified. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or be 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 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 have been no significant changes in the valuation techniques during the three and six months ended June 30, 2021 and 2020. The Company’s policy is to recognize transfers between levels as of the end of the reporting period. Transfers in and out of Level 1, Level 2, and Level 3 are recognized on the actual transfer date. There were no transfers between fair value hierarchy levels during the three and six months ended June 30, 2021 and 2020. Further details on the methods used to estimate the fair value of each class of financial instruments above are discussed below: Investment Debt 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 three-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. For purposes of potential valuation adjustments to our derivative positions, we evaluate the credit risk of our counterparties as well as ours. Accordingly, we have considered factors such as the likelihood of our default and the default of our counterparties, our net exposures and remaining contractual life, among other things, in determining if any fair value adjustments related to credit risk are required. The change in value of derivative assets and derivative liabilities attributable to credit risk was not significant during the reported periods. 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. |
Recent Authoritative Accounting Guidance | Recent Authoritative Accounting Guidance ASU 2018-14, “Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20): Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans.” In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General: Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans (ASU 2018-14). The amendments in this ASU remove disclosures that no longer are considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements that have been identified as meeting the requirements. Although narrow in scope, the amendments are considered an important part of the Board’s efforts to improve the effectiveness of disclosures in the notes to financial statements by applying the concepts discussed in the Concepts Statement. The amendments in this ASU are effective for public business entities with fiscal years ending after December 15, 2020. The amendments in this ASU became effective for the Company on January 1, 2021 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2020-04, “Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Accounting.” In March 2020, the FASB issued ASU 2020-04, which provides temporary exceptions that are optional for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate, with such modification considered to be "minor" so that any existing unamortized origination fees/costs will carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications will not be accounted for as separate contracts. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. An entity may elect to apply ASU 2020-04 for contract modifications as of January 1, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic within the Codification, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company adopted certain elections related to cash flow hedges which did not have a significant impact on the Company’s financial position or results of operations. The Company is currently evaluating the impact the adoption of other expedients in the standard and does not anticipate it will have a significant impact on the Company’s financial position or results of operations. ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs.” In October 2020, the FASB issued ASU 2020-08, Codification Improvements to Subtopic 310-20, Receivables-Nonrefundable Fees and Other Costs, that clarifies when an entity should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The amendments in this ASU became effective for the Company on January 1, 2021 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2021-01, “Reference Rate Reform (Topic 848)” In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform Topic 848, that clarifies certain exceptions that are optional in Topic 848 for contract modifications and hedge accounting and apply those exceptions to derivatives that are affected by the discounting transition. An entity may elect to apply the amendments in this ASU on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final ASU. If an entity elects to apply any of the amendments in this ASU for an eligible hedging relationship, any adjustments as a result of those elections must be reflected as of the date the entity applies the election. The amendments in this ASU do not apply to contract modifications made, new hedging relationships entered into, or existing hedging relationships evaluated for effectiveness in periods after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that apply certain exceptions that are optional in which the accounting effects of the hedging activity are recorded through the end of the hedging relationship (including periods after December 31, 2022). The Company is currently evaluating the impact of the standard and does not anticipate it will have a significant impact on the Company’s financial position or results of operations. |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended | 6 Months Ended |
Mar. 31, 2021 | Jun. 30, 2021 | |
Investments, Debt and Equity Securities [Abstract] | ||
Amortized Cost and Approximate Fair Values of Investment Securities | The amortized cost and the approximate fair values of investment securities are summarized as follows: June 30, 2021 Amortized Gross Gross Estimated Available-for-Sale: U.S. Treasury notes $ 497.1 $ — $ (0.2) $ 496.9 State, county, and municipal securities 449.2 2.5 (7.2) 444.5 Obligations of U.S. government agencies 333.2 0.4 (6.7) 326.9 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 2,064.7 29.4 (11.9) 2,082.2 Private mortgage-backed securities 16.9 0.1 — 17.0 Collateralized loan obligations 187.3 — — 187.3 Corporate securities 401.0 4.6 (2.6) 403.0 Total $ 3,949.4 $ 37.0 $ (28.6) $ 3,957.8 June 30, 2021 Amortized Gross Gross Estimated Held-to-Maturity: State, county, and municipal securities $ 72.4 $ 2.6 $ (0.5) $ 74.5 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations (1) 1,591.5 22.4 (8.6) 1,605.3 Corporate securities (1) 21.6 0.5 — 22.1 Total $ 1,685.5 $ 25.5 $ (9.1) $ 1,701.9 (1) Amortized costs presented above include $24.4 million and $0.4 million of unamortized gains in U.S. agency residential mortgage-backed securities and collateralized mortgage obligations and Corporate securities, respectively, related to the 2021 second quarter transfer of securities from available-for-sale to held-to-maturity. December 31, 2020 Amortized Gross Gross Estimated Available-for-Sale: State, county, and municipal securities $ 462.1 $ 4.8 $ (1.0) $ 465.9 Obligations of U.S. government agencies 332.9 1.0 (2.0) 331.9 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 2,830.8 69.3 (2.5) 2,897.6 Private mortgage-backed securities 10.9 0.1 (0.1) 10.9 Corporate securities 295.8 6.5 (0.1) 302.2 Other investments 0.2 — — 0.2 Total $ 3,932.7 $ 81.7 $ (5.7) $ 4,008.7 December 31, 2020 Amortized Gross Gross Estimated Held-to-Maturity: State, county, and municipal securities $ 46.6 $ 3.2 $ — $ 49.8 U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 1.0 0.1 — 1.1 Corporate securities 3.9 0.1 — 4.0 Other investments 0.1 — — 0.1 Total $ 51.6 $ 3.4 $ — $ 55.0 | |
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 an unrealized loss position as of June 30, 2021 and December 31, 2020. There were no held-to-maturity securities in an unrealized loss position at December 31, 2020. Less than 12 Months 12 Months or More Total June 30, 2021 Fair Gross Fair Gross Fair Gross Available-for-Sale: U.S. Treasury notes $ 496.9 $ (0.2) $ — $ — $ 496.9 $ (0.2) State, county, and municipal securities 260.3 (7.2) — — 260.3 (7.2) Obligations of U.S. government agencies 293.7 (6.7) — — 293.7 (6.7) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 870.9 (11.9) — — 870.9 (11.9) Corporate securities 196.2 (2.6) — — 196.2 (2.6) Total $ 2,118.0 $ (28.6) $ — $ — $ 2,118.0 $ (28.6) Less than 12 Months 12 Months or More Total June 30, 2021 Fair Gross Fair Gross Fair Gross Held-to-Maturity: U.S. agency residential mortgage-backed securities & collateralized mortgage obligations $ 742.0 $ (8.6) $ — $ — $ 742.0 $ (8.6) State, county, and municipal securities 29.3 (0.5) — — 29.3 (0.5) Total $ 771.3 $ (9.1) $ — $ — $ 771.3 $ (9.1) Less than 12 Months 12 Months or More Total December 31, 2020 Fair Gross Fair Gross Fair Gross Available-for-Sale: State, county, and municipal securities $ 148.1 $ (1.0) $ — $ — $ 148.1 $ (1.0) Obligations of U.S. government agencies 235.6 (2.0) — — 235.6 (2.0) U.S. agency residential mortgage-backed securities & collateralized mortgage obligations 434.0 (2.4) 12.3 (0.1) 446.3 (2.5) Private mortgage-backed securities — — 4.3 (0.1) 4.3 (0.1) Corporate securities 20.9 (0.1) — — 20.9 (0.1) Total $ 838.6 $ (5.5) $ 16.6 $ (0.2) $ 855.2 $ (5.7) | |
Maturities of Investment Securities | , the Company had variable rate mortgage-backed and corporate securities which had an amortized cost of $291.6 million and were classified as available-for-sale as of June 30, 2021. 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, 2021 Amortized Estimated Amortized Estimated Within one year $ 624.8 $ 723.9 $ 682.2 $ 688.1 After one year but within five years 1,516.3 1,626.9 393.3 398.2 After five years but within ten years 1,062.4 935.5 272.9 276.0 After ten years 745.9 671.5 337.1 339.6 Total $ 3,949.4 $ 3,957.8 $ 1,685.5 $ 1,701.9 |
Loans Held for Investment (Tabl
Loans Held for Investment (Tables) | 3 Months Ended | 6 Months Ended |
Mar. 31, 2021 | Jun. 30, 2021 | |
Receivables [Abstract] | ||
Schedule of Loans by Class | The following table presents loans by segment as of the dates indicated: June 30, December 31, Real estate loans: Commercial $ 3,753.4 $ 3,743.2 Construction loans: Land acquisition & development 261.1 265.0 Residential 263.5 250.9 Commercial 632.0 523.5 Total construction loans 1,156.6 1,039.4 Residential 1,577.7 1,396.3 Agricultural 223.5 220.6 Total real estate loans 6,711.2 6,399.5 Consumer loans: Indirect 773.7 805.1 Direct and advance lines 134.8 150.6 Credit card 64.4 70.2 Total consumer loans 972.9 1,025.9 Commercial 1,959.4 2,153.9 Agricultural 217.7 247.6 Other, including overdrafts 6.0 1.6 Loans held for investment 9,867.2 9,828.5 Deferred loan fees and costs (32.5) (21.0) Loans held for investment, net of deferred fees and costs 9,834.7 9,807.5 Allowance for credit losses (135.5) (144.3) Net loans held for investment $ 9,699.2 $ 9,663.2 | |
Schedule of Allowance for Loan Losses by Portfolio Segment | The following tables represent, by loan portfolio segment, the activity in the allowance for credit losses for loans held for investment: Three Months Ended June 30, 2021 Beginning Balance Provision for (reversal of) Credit Loss Loans Charged-Off Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 23.0 $ (0.2) $ — $ 0.1 $ 22.9 Owner occupied 17.4 1.4 (2.2) — 16.6 Multi-family 11.8 (0.2) — — 11.6 Total commercial real estate 52.2 1.0 (2.2) 0.1 51.1 Construction: Land acquisition & development 1.2 (0.4) (0.1) 0.3 1.0 Residential construction 1.4 0.2 (0.1) — 1.5 Commercial construction 7.2 0.9 (0.1) — 8.0 Total construction 9.8 0.7 (0.3) 0.3 10.5 Residential real estate: Residential 1-4 family 11.5 1.9 — — 13.4 Home equity and HELOC 1.4 (0.1) — 0.1 1.4 Total residential real estate 12.9 1.8 — 0.1 14.8 Agricultural real estate 2.8 0.2 — — 3.0 Total real estate 77.7 3.7 (2.5) 0.5 79.4 Consumer: Indirect 16.0 (0.2) (0.8) 0.8 15.8 Direct and advance lines 4.8 — (0.4) 0.2 4.6 Credit card 1.5 0.3 (0.4) 0.2 1.6 Total consumer 22.3 0.1 (1.6) 1.2 22.0 Commercial: Commercial and floor plans 31.0 (3.4) (0.3) 1.7 29.0 Commercial purpose secured by 1-4 family 4.7 (0.4) (0.1) 0.2 4.4 Credit card 0.3 — (0.1) 0.1 0.3 Total commercial 36.0 (3.8) (0.5) 2.0 33.7 Agricultural: Agricultural 0.6 — (0.2) — 0.4 Total agricultural 0.6 — (0.2) — 0.4 Total allowance for credit losses $ 136.6 $ — $ (4.8) $ 3.7 $ 135.5 (1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report. Six Months Ended June 30, 2021 Beginning Balance Provision for (reversal of) Credit Loss Loans Charged-Off Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 25.5 $ (2.7) $ — $ 0.1 $ 22.9 Owner occupied 18.3 0.6 (2.3) — 16.6 Multi-family 11.0 0.6 — — 11.6 Total commercial real estate 54.8 (1.5) (2.3) 0.1 51.1 Construction: Land acquisition & development 1.3 (0.6) (0.1) 0.4 1.0 Residential construction 1.6 — (0.1) — 1.5 Commercial construction 7.3 0.7 (0.1) 0.1 8.0 Total construction 10.2 0.1 (0.3) 0.5 10.5 Residential real estate: Residential 1-4 family 11.4 2.0 — — 13.4 Home equity and HELOC 1.4 (0.1) (0.1) 0.2 1.4 Total residential real estate 12.8 1.9 (0.1) 0.2 14.8 Agricultural real estate 2.7 0.3 — — 3.0 Total real estate 80.5 0.8 (2.7) 0.8 79.4 Consumer: Indirect 16.7 (0.2) (2.1) 1.4 15.8 Direct and advance lines 4.6 0.7 (1.2) 0.5 4.6 Credit card 2.6 (0.4) (1.0) 0.4 1.6 Total consumer 23.9 0.1 (4.3) 2.3 22.0 Commercial: Commercial and floor plans 34.2 (5.2) (2.1) 2.1 29.0 Commercial purpose secured by 1-4 family 4.7 (0.6) (0.1) 0.4 4.4 Credit card 0.3 0.2 (0.3) 0.1 0.3 Total commercial 39.2 (5.6) (2.5) 2.6 33.7 Agricultural: Agricultural 0.7 (0.1) (0.2) — 0.4 Total agricultural 0.7 (0.1) (0.2) — 0.4 Total allowance for credit losses $ 144.3 $ (4.8) $ (9.7) $ 5.7 $ 135.5 (1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report. Three Months Ended June 30, 2020 Beginning Balance Provision for Credit Loss Expense Loans Charged-Off Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 15.7 $ 7.9 $ — $ — $ 23.6 Owner occupied 15.7 3.4 (0.1) 0.1 19.1 Multi-family 8.1 0.4 — — 8.5 Total commercial real estate 39.5 11.7 (0.1) 0.1 51.2 Construction: Land acquisition & development 1.4 0.1 — — 1.5 Residential construction 1.1 0.2 — — 1.3 Commercial construction 6.1 0.2 — — 6.3 Total construction 8.6 0.5 — — 9.1 Residential real estate: Residential 1-4 family 12.9 (2.7) — 0.1 10.3 Home equity and HELOC 1.4 — — 0.1 1.5 Total residential real estate 14.3 (2.7) — 0.2 11.8 Agricultural real estate 2.6 0.5 — — 3.1 Total real estate 65.0 10.0 (0.1) 0.3 75.2 Consumer: Indirect 16.7 0.5 (1.2) 0.4 16.4 Direct and advance lines 5.5 0.3 (1.0) 0.3 5.1 Credit card 2.6 — (0.8) 0.2 2.0 Total consumer 24.8 0.8 (3.0) 0.9 23.5 Commercial: Commercial and floor plans 33.5 7.7 (0.6) 0.4 41.0 Commercial purpose secured by 1-4 family 4.4 0.6 — 0.1 5.1 Credit card 0.3 0.3 (0.3) 0.1 0.4 Total commercial 38.2 8.6 (0.9) 0.6 46.5 Agricultural: Agricultural 1.1 (0.1) (0.1) — 0.9 Total agricultural 1.1 (0.1) (0.1) — 0.9 Total allowance for credit losses $ 129.1 $ 19.3 $ (4.1) $ 1.8 $ 146.1 (1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report. Six Months Ended June 30, 2020 Beginning Balance Impact of Adopting ASC 326 Provision for Credit Loss Expense Loans Charged-Off Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 8.8 $ 4.9 $ 9.9 $ — $ — $ 23.6 Owner occupied 10.0 3.5 5.6 (0.1) 0.1 19.1 Multi-family 0.7 6.9 0.9 — — 8.5 Total commercial real estate 19.5 15.3 16.4 (0.1) 0.1 51.2 Construction: Land acquisition & development 1.9 (0.1) 0.2 (0.5) — 1.5 Residential construction 1.5 (0.9) 0.7 — — 1.3 Commercial construction 2.7 1.3 2.3 — — 6.3 Total construction 6.1 0.3 3.2 (0.5) — 9.1 Residential real estate: Residential 1-4 family 1.8 10.6 (2.2) — 0.1 10.3 Home equity and HELOC 1.0 0.5 (0.1) — 0.1 1.5 Total residential real estate 2.8 11.1 (2.3) — 0.2 11.8 Agricultural real estate 0.5 1.8 0.8 — — 3.1 Total real estate 28.9 28.5 18.1 (0.6) 0.3 75.2 Consumer: Indirect 4.5 8.8 4.4 (2.4) 1.1 16.4 Direct and advance lines 2.9 3.0 0.7 (2.0) 0.5 5.1 Credit card 2.5 0.3 0.4 (1.6) 0.4 2.0 Total consumer 9.9 12.1 5.5 (6.0) 2.0 23.5 Commercial: Commercial and floor plans 25.5 (5.1) 21.2 (1.4) 0.8 41.0 Commercial purpose secured by 1-4 family 5.9 (3.8) 3.0 (0.1) 0.1 5.1 Credit card 1.2 (1.1) 0.7 (0.5) 0.1 0.4 Total commercial 32.6 (10.0) 24.9 (2.0) 1.0 46.5 Agricultural: Agricultural 1.6 (0.6) — (0.1) — 0.9 Total agricultural 1.6 (0.6) — (0.1) — 0.9 Total allowance for credit losses $ 73.0 $ 30.0 $ 48.5 $ (8.7) $ 3.3 $ 146.1 (1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report. | |
Schedule of Recorded Investment in Impaired Loans | The following tables present the amortized cost basis of collateral-dependent loans by class of loans as of the dates indicated: Collateral Type As of June 30, 2021 Business Assets Real Property Other Total Real estate $ 1.3 $ 9.6 $ — $ 10.9 Commercial 3.1 1.0 — 4.1 Agricultural — 0.7 — 0.7 Total collateral-dependent $ 4.4 $ 11.3 $ — $ 15.7 | |
Schedule of Recorded Investment in Past Due Loans by Class | Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans classified in the following table as greater than 90 days past due continue to accrue interest. The following tables present the contractual aging of the Company’s recorded amortized cost basis in loans by portfolio 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, 2021 Past Due Past Due Past Due Past Due Loans Loans (1) Loans Real estate Commercial $ 2.8 $ 0.4 $ 0.4 $ 3.6 $ 3,740.5 $ 9.3 $ 3,753.4 Construction: Land acquisition & development 0.5 — — 0.5 260.1 0.5 261.1 Residential 0.2 — 0.4 0.6 262.9 — 263.5 Commercial 2.1 1.7 — 3.8 628.2 — 632.0 Total construction loans 2.8 1.7 0.4 4.9 1,151.2 0.5 1,156.6 Residential 0.7 1.4 1.2 3.3 1,571.2 3.2 1,577.7 Agricultural — — 0.1 0.1 217.4 6.0 223.5 Total real estate loans 6.3 3.5 2.1 11.9 6,680.3 19.0 6,711.2 Consumer: Indirect consumer 3.3 0.8 0.2 4.3 767.7 1.7 773.7 Other consumer 0.4 0.1 0.2 0.7 133.9 0.2 134.8 Credit card 0.5 0.2 0.3 1.0 63.4 — 64.4 Total consumer loans 4.2 1.1 0.7 6.0 965.0 1.9 972.9 Commercial 3.6 2.3 2.1 8.0 1,944.1 7.3 1,959.4 Agricultural 0.8 0.3 0.3 1.4 214.1 2.2 217.7 Other, including overdrafts — — — — 6.0 — 6.0 Loans held for investment $ 14.9 $ 7.2 $ 5.2 $ 27.3 $ 9,809.5 $ 30.4 $ 9,867.2 Total Loans 30 - 59 60 - 89 > 90 30 or More Days Days Days Days Current Non-accrual Total As of December 31, 2020 Past Due Past Due Past Due Past Due Loans Loans (1) Loans Real estate Commercial $ 7.6 $ 1.2 $ 4.0 $ 12.8 $ 3,720.8 $ 9.6 $ 3,743.2 Construction: Land acquisition & development 2.5 1.1 0.1 3.7 260.6 0.7 265.0 Residential 1.5 0.4 — 1.9 247.9 1.1 250.9 Commercial 12.2 — — 12.2 511.2 0.1 523.5 Total construction loans 16.2 1.5 0.1 17.8 1,019.7 1.9 1,039.4 Residential 4.7 1.6 0.5 6.8 1,384.9 4.6 1,396.3 Agricultural 2.0 — — 2.0 212.4 6.2 220.6 Total real estate loans 30.5 4.3 4.6 39.4 6,337.8 22.3 6,399.5 Consumer: Indirect consumer 6.4 2.0 0.5 8.9 794.3 1.9 805.1 Other consumer 0.8 0.2 0.2 1.2 149.0 0.4 150.6 Credit card 0.6 0.4 0.6 1.6 68.6 — 70.2 Total consumer loans 7.8 2.6 1.3 11.7 1,011.9 2.3 1,025.9 Commercial 6.2 1.8 1.2 9.2 2,132.9 11.8 2,153.9 Agricultural 0.4 0.6 1.4 2.4 242.1 3.1 247.6 Other, including overdrafts — — — — 1.6 — 1.6 Loans held for investment $ 44.9 $ 9.3 $ 8.5 $ 62.7 $ 9,726.3 $ 39.5 $ 9,828.5 (1) As of June 30, 2021 and December 31, 2020, none of our non-accrual loans were earning interest income. Additionally, no material interest income was recognized on non-accrual loans during the three and six months ended June 30, 2021 and 2020, respectively, and no material accrued interest was reversed at June 30, 2021 and 2020, respectively. | |
Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator | The Company evaluates the credit quality and loan performance for the allowance for credit loan losses of the following segments based on the aforementioned risk scale: June 30, 2021 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Commercial real estate non-owner occupied: Pass $ 268.2 $ 471.8 $ 282.7 $ 165.2 $ 93.1 $ 426.4 $ 10.0 $ 1,717.4 Special mention — 1.8 2.3 0.7 — 17.4 — 22.2 Substandard 3.9 15.6 2.4 1.0 1.1 13.2 — 37.2 Total $ 272.1 $ 489.2 $ 287.4 $ 166.9 $ 94.2 $ 457.0 $ 10.0 $ 1,776.8 Commercial real estate owner occupied: Pass $ 194.4 $ 345.8 $ 268.1 $ 177.5 $ 111.2 $ 412.0 $ 8.2 $ 1,517.2 Special mention 1.4 5.8 2.4 4.0 3.2 25.9 — 42.7 Substandard 1.5 5.1 6.7 10.8 2.9 23.6 0.1 50.7 Doubtful — — — — 0.1 — — 0.1 Total $ 197.3 $ 356.7 $ 277.2 $ 192.3 $ 117.4 $ 461.5 $ 8.3 $ 1,610.7 Commercial multi-family: Pass $ 43.7 $ 116.4 $ 51.1 $ 22.2 $ 37.8 $ 93.5 $ 1.2 $ 365.9 Total $ 43.7 $ 116.4 $ 51.1 $ 22.2 $ 37.8 $ 93.5 $ 1.2 $ 365.9 Land, acquisition and development: Pass $ 58.3 $ 84.7 $ 46.4 $ 19.1 $ 23.1 $ 26.0 $ 0.2 $ 257.8 Special mention 1.0 0.2 — — 0.1 — — 1.3 Substandard 0.6 0.2 — 0.8 0.1 0.2 0.1 2.0 Total $ 59.9 $ 85.1 $ 46.4 $ 19.9 $ 23.3 $ 26.2 $ 0.3 $ 261.1 Residential construction: Pass $ 76.4 $ 36.9 $ 46.6 $ 1.0 $ 2.4 $ 0.1 $ 99.9 $ 263.3 Substandard 0.2 — — — — — — 0.2 Total $ 76.6 $ 36.9 $ 46.6 $ 1.0 $ 2.4 $ 0.1 $ 99.9 $ 263.5 Commercial construction: Pass $ 134.7 $ 270.1 $ 174.9 $ 27.7 $ 10.9 $ 5.8 $ 7.9 $ 632.0 Total $ 134.7 $ 270.1 $ 174.9 $ 27.7 $ 10.9 $ 5.8 $ 7.9 $ 632.0 June 30, 2021 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Agricultural real estate: Pass $ 38.8 $ 42.5 $ 38.8 $ 25.4 $ 13.9 $ 32.6 $ 3.4 $ 195.4 Special mention 0.1 2.1 6.4 0.6 0.2 2.0 1.0 12.4 Substandard 0.1 1.4 2.7 2.7 1.3 5.1 — 13.3 Doubtful 2.4 — — — — — — 2.4 Total $ 41.4 $ 46.0 $ 47.9 $ 28.7 $ 15.4 $ 39.7 $ 4.4 $ 223.5 Commercial and floor plans: Pass $ 733.3 $ 202.5 $ 123.0 $ 99.5 $ 57.4 $ 109.7 $ 253.3 $ 1,578.7 Special mention 0.5 14.9 1.2 2.4 5.5 3.6 4.5 32.6 Substandard 1.6 3.7 1.4 2.0 0.6 5.2 1.1 15.6 Total $ 735.4 $ 221.1 $ 125.6 $ 103.9 $ 63.5 $ 118.5 $ 258.9 $ 1,626.9 Commercial purpose secured by 1-4 family: Pass $ 34.4 $ 68.1 $ 46.8 $ 27.4 $ 18.1 $ 40.7 $ 15.6 $ 251.1 Special mention — 0.2 0.4 0.6 0.1 1.0 0.4 2.7 Substandard 1.4 1.5 1.0 1.4 0.3 1.8 0.1 7.5 Total $ 35.8 $ 69.8 $ 48.2 $ 29.4 $ 18.5 $ 43.5 $ 16.1 $ 261.3 Agricultural: Pass $ 24.7 $ 31.5 $ 11.5 $ 8.3 $ 3.9 $ 2.3 $ 112.5 $ 194.7 Special mention 9.0 0.6 0.5 0.3 — 0.3 2.4 13.1 Substandard 0.6 0.6 1.6 2.5 0.1 0.2 2.2 7.8 Doubtful — 0.5 — — — — — 0.5 Total $ 34.3 $ 33.2 $ 13.6 $ 11.1 $ 4.0 $ 2.8 $ 117.1 $ 216.1 June 30, 2021 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Residential 1-4 family: Performing $ 305.9 $ 492.2 $ 87.8 $ 39.4 $ 35.5 $ 232.3 $ — $ 1,193.1 Nonperforming — 0.3 0.4 — 0.2 1.4 — 2.3 Total $ 305.9 $ 492.5 $ 88.2 $ 39.4 $ 35.7 $ 233.7 $ — $ 1,195.4 Consumer home equity and HELOC: Performing $ 6.9 $ 9.2 $ 5.7 $ 5.6 $ 4.9 $ 15.1 $ 332.8 $ 380.2 Nonperforming — — 0.3 0.1 0.7 0.9 0.1 2.1 Total $ 6.9 $ 9.2 $ 6.0 $ 5.7 $ 5.6 $ 16.0 $ 332.9 $ 382.3 Consumer indirect: Performing $ 155.9 $ 269.0 $ 144.4 $ 87.3 $ 52.2 $ 62.9 $ — $ 771.7 Nonperforming 0.1 0.4 0.5 0.3 0.2 0.5 — 2.0 Total $ 156.0 $ 269.4 $ 144.9 $ 87.6 $ 52.4 $ 63.4 $ — $ 773.7 June 30, 2021 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total Consumer direct and advance line: Performing $ 23.1 $ 36.1 $ 21.1 $ 19.6 $ 8.2 $ 10.2 $ 16.2 $ 134.5 Nonperforming — — 0.1 0.1 — 0.1 — 0.3 Total $ 23.1 $ 36.1 $ 21.2 $ 19.7 $ 8.2 $ 10.3 $ 16.2 $ 134.8 As of June 30, 2021 Consumer Commercial Agricultural Total Credit Card: Performing $ 64.1 $ 71.1 $ 1.6 $ 136.8 Nonperforming 0.3 0.1 — 0.4 Total $ 64.4 $ 71.2 $ 1.6 $ 137.2 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Repossessed Assets [Abstract] | |
Other Real Estate Owned Roll Forward | Information with respect to the Company’s other real estate owned is reflected in the following table: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 2.2 $ 8.2 $ 2.5 $ 8.5 Additions — 0.3 0.3 1.2 Dispositions (0.2) (2.0) (0.8) (3.2) Ending balance $ 2.0 $ 6.5 $ 2.0 $ 6.5 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
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 periods presented: Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income $ 42.5 $ 36.7 $ 93.9 $ 66.0 Weighted average common shares outstanding for basic earnings per share computation 61,657,593 64,004,455 61,624,917 64,397,320 Dilutive effects of stock-based compensation 70,228 78,034 98,225 116,566 Weighted average common shares outstanding for diluted earnings per common share computation 61,727,821 64,082,489 61,723,142 64,513,886 Basic earnings per common share $ 0.69 $ 0.57 $ 1.52 $ 1.02 Diluted earnings per common share $ 0.69 $ 0.57 $ 1.52 $ 1.02 Anti-dilutive unvested time restricted stock 84,165 108,369 90,538 108,369 |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Banking and Thrift, Other Disclosures [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Actual capital amounts and ratios for the Company and its subsidiary Bank, as of June 30, 2021 and December 31, 2020 are presented in the following tables: Actual Minimum Required for Capital Adequacy Purposes For Capital Adequacy Purposes Plus Capital Conservation Buffer Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements(1) June 30, 2021 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total risk-based capital: Consolidated $ 1,615.5 13.89 % $ 930.3 8.00 % $ 1,221.0 10.50 % $ 1,162.8 10.00 % FIB 1,445.4 12.47 927.5 8.00 1,217.4 10.50 1,159.4 10.00 Tier 1 risk-based capital: Consolidated 1,415.6 12.17 697.7 6.00 988.4 8.50 930.3 8.00 FIB 1,345.5 11.60 695.7 6.00 985.5 8.50 927.5 8.00 Common equity tier 1 risk-based capital: Consolidated 1,331.5 11.45 523.3 4.50 814.0 7.00 755.8 6.50 FIB 1,345.5 11.60 521.7 4.50 811.6 7.00 753.6 6.50 Leverage capital ratio: Consolidated 1,415.6 7.84 722.0 4.00 722.0 4.00 902.5 5.00 FIB 1,345.5 7.47 720.2 4.00 720.2 4.00 900.3 5.00 Actual Minimum Required for Capital Adequacy Purposes For Capital Adequacy Purposes Plus Capital Conservation Buffer Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements(1) December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total risk-based capital: Consolidated $ 1,575.7 14.19 % $ 888.3 8.00 % $ 1,165.8 10.50 % $ 1,110.3 10.00 % FIB 1,426.8 12.89 885.6 8.00 1,162.3 10.50 1,107.0 10.00 Tier 1 risk-based capital: Consolidated 1,369.0 12.33 666.2 6.00 943.8 8.50 888.3 8.00 FIB 1,320.1 11.93 664.2 6.00 940.9 8.50 885.6 8.00 Common equity tier 1 risk-based capital: Consolidated 1,284.9 11.57 499.6 4.50 777.2 7.00 721.7 6.50 FIB 1,320.1 11.93 498.1 4.50 774.9 7.00 719.5 6.50 Leverage capital ratio: Consolidated 1,369.0 8.16 671.0 4.00 671.0 4.00 838.7 5.00 FIB 1,320.1 7.88 669.7 4.00 669.7 4.00 837.2 5.00 (1) The ratios for the requirements to be deemed “well-capitalized” are only applicable to FIB. However, the Company manages its capital position as if the requirements apply to the consolidated company and has presented the ratios as if they also applied on a consolidated basis. |
Other Comprehensive Income_Lo_2
Other Comprehensive Income/Loss (Tables) | 3 Months Ended | 6 Months Ended |
Mar. 31, 2021 | Jun. 30, 2021 | |
Equity [Abstract] | ||
Schedule of Other Comprehensive Income and Related Tax Effects | 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, 2021 2020 2021 2020 2021 2020 Investment securities available-for sale: Change in net unrealized (loss) gain during period $ (0.8) $ 34.9 $ (0.2) $ 9.5 $ (0.6) $ 25.4 Reclassification adjustment for net loss included in net income 0.1 — — — 0.1 — Net change in unamortized gains on available-for-sale securities transferred into held-to-maturity 24.8 — 6.3 — 18.5 — Unrealized gain (loss) on derivatives (0.8) 0.2 (0.2) — (0.6) 0.2 Defined benefits post-retirement benefit plan: Change in net actuarial gains — (0.2) — — — (0.2) Total other comprehensive (loss) income $ 23.3 $ 34.9 $ 5.9 $ 9.5 $ 17.4 $ 25.4 Pre-tax Tax Expense (Benefit) Net of Tax Six Months Ended June 30, 2021 2020 2021 2020 2021 2020 Investment securities available-for sale: Change in net unrealized (loss) gains during period $ (67.6) $ 74.1 $ (17.2) $ 19.8 $ (50.4) $ 54.3 Reclassification adjustment for net loss included in net income 0.1 — — — 0.1 — Net change in unamortized gains on available-for-sale securities transferred into held-to-maturity 24.8 — 6.3 — 18.5 — Unrealized gain (loss) on derivatives (0.9) 0.2 (0.2) — (0.7) 0.2 Defined benefits post-retirement benefit plan: Change in net actuarial gains — (0.4) — (0.1) — (0.3) Total other comprehensive income $ (43.6) $ 73.9 $ (11.1) $ 19.7 $ (32.5) $ 54.2 | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive income, net of related tax effects, are as follows: June 30, 2021 December 31, 2020 Net unrealized gains on investment securities available-for-sale $ 6.3 $ 56.8 Net unrealized gains on investment securities transferred to held-to-maturity 18.5 — Net unrealized loss on derivatives (0.7) (0.2) Net accumulated other comprehensive gains $ 24.1 $ 56.6 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended | 6 Months Ended |
Mar. 31, 2021 | Jun. 30, 2021 | |
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, 2021 Balance Quoted Prices in Significant Other Significant Investment debt securities available-for-sale: U.S. Treasury notes $ 496.9 $ — $ 496.9 $ — State, county, and municipal securities 444.5 — 444.5 — Obligations of U.S. government agencies 326.9 — 326.9 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 2,082.2 — 2,082.2 — Private mortgage-backed securities 17.0 — 17.0 — Collateralized loan obligations 187.3 — 187.3 — Corporate securities 403.0 — 403.0 — Loans held for sale 48.8 — 48.8 — Derivative assets: Interest rate swap contracts 42.1 — 42.1 — Interest rate lock commitments 3.0 — 3.0 — Derivative liabilities: Interest rate swap contracts 43.1 — 43.1 — Forward loan sale contracts 0.2 — 0.2 — Deferred compensation plan assets 20.8 — 20.8 — Deferred compensation plan liabilities 20.8 — 20.8 — Fair Value Measurements at Reporting Date Using As of December 31, 2020 Balance Quoted Prices in Significant Other Significant Investment debt securities available-for-sale: State, county and municipal securities $ 465.9 $ — 465.9 $ — Obligations of U.S. government agencies 331.9 — 331.9 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 2,897.6 — 2,897.6 — Private mortgage-backed securities 10.9 — 10.9 — Corporate securities 302.2 — 302.2 — Other investments 0.2 — 0.2 — Loans held for sale 74.0 — 74.0 — Derivative assets: Interest rate swap contracts 52.0 — 52.0 — Interest rate lock commitments 3.3 — 3.3 — Derivative liabilities Interest rate swap contracts 52.2 — 52.2 — Forward loan sales contracts 1.1 — 1.1 — Deferred compensation plan assets 19.1 — 19.1 — Deferred compensation plan liabilities 19.1 — 19.1 — | |
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, 2021 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Significant Collateral dependent loans $ 12.8 $ — $ — $ 12.8 Long-lived assets to be disposed of by sale 7.3 — — 7.3 Fair Value Measurements at Reporting Date Using As of December 31, 2020 Balance Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Significant Collateral dependent loans $ 14.7 $ — $ — $ 14.7 Long-lived assets to be disposed of by sale 5.3 — — 5.3 | |
Fair Value Inputs, Assets, Quantitative Information | 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, 2021 December 31, 2020 Valuation Unobservable Range Collateral dependent loans $ 12.8 $ 14.7 Appraisal Appraisal adjustment 0% - 18% (9%) Long-lived assets to be disposed of by sale 7.3 5.3 Appraisal Appraisal adjustment 0% - 0% 0% | |
Fair Value, by Balance Sheet Grouping | The estimated fair values of financial instruments that are reported in the Company’s consolidated balance sheets, and are segregated by the level of the valuation inputs within the fair value hierarchy that are utilized to measure fair value, are as follows: Fair Value Measurements at Reporting Date Using As of June 30, 2021 Carrying Amount Estimated Quoted Prices in Active Markets for Significant Other Significant Financial assets: Cash and cash equivalents $ 1,948.4 $ 1,948.4 $ 1,948.4 $ — $ — Investment debt securities available-for-sale 3,957.8 3,957.8 — 3,957.8 — Investment debt securities held-to-maturity 1,685.5 1,701.9 — 1,701.9 — Accrued interest receivable 50.9 50.9 — 50.9 — Mortgage servicing rights, net 27.4 27.4 — 27.4 — Loans held for sale 48.8 48.8 — 48.8 — Net loans held for investment 9,699.2 9,749.0 — 9,736.2 12.8 Derivative assets 45.1 45.1 — 45.1 — Deferred compensation plan assets 20.8 20.8 — 20.8 — Total financial assets $ 17,483.9 $ 17,550.1 $ 1,948.4 $ 15,588.9 $ 12.8 Financial liabilities: Total deposits, excluding time deposits $ 14,554.2 $ 14,554.2 $ 14,554.2 $ — $ — Time deposits 1,011.5 1,011.7 — 1,011.7 — Securities sold under repurchase agreements 1,038.7 1,038.7 — 1,038.7 — Accrued interest payable 5.0 5.0 — 5.0 — Long-term debt 112.4 121.1 — 121.1 — Subordinated debentures held by subsidiary trusts 87.0 83.0 — 83.0 — Derivative liabilities 43.3 43.3 — 43.3 — Deferred compensation plan liabilities 20.8 20.8 — 20.8 — Total financial liabilities $ 16,872.9 $ 16,877.8 $ 14,554.2 $ 2,323.6 $ — Fair Value Measurements at Reporting Date Using As of December 31, 2020 Carrying Amount Estimated Quoted Prices in Active Markets for Significant Other Significant Financial assets: Cash and cash equivalents $ 2,276.8 $ 2,276.8 $ 2,276.8 $ — $ — Investment debt securities available-for-sale 4,008.7 4,008.7 — 4,008.7 — Investment debt securities held-to-maturity 51.6 55.0 — 55.0 — Accrued interest receivable 51.1 51.1 — 51.1 — Mortgage servicing rights, net 24.0 24.0 — 24.0 — Loans held for sale 74.0 74.0 — 74.0 — Net loans held for investment 9,663.2 9,785.6 — 9,770.9 14.7 Derivative assets 55.3 55.3 — 55.3 — Deferred compensation plan assets 19.1 19.1 — 19.1 — Total financial assets $ 16,223.8 $ 16,349.6 $ 2,276.8 $ 14,058.1 $ 14.7 Financial liabilities: Total deposits, excluding time deposits $ 13,158.3 $ 13,158.3 $ 13,158.3 $ — $ — Time deposits 1,058.7 1,061.1 — 1,061.1 — Securities sold under repurchase agreements 1,091.4 1,091.4 — 1,091.4 — Accrued interest payable 5.8 5.8 — 5.8 — Long-term debt 112.4 116.5 — 116.5 — Subordinated debentures held by subsidiary trusts 87.0 81.3 — 81.3 — Derivative liabilities 53.3 53.3 — 53.3 — Deferred compensation plan liabilities 19.1 19.1 — 19.1 — Total financial liabilities $ 15,586.0 $ 15,586.8 $ 13,158.3 $ 2,428.5 $ — |
Basis of Presentation (Details)
Basis of Presentation (Details) - USD ($) $ in Millions | 6 Months Ended | |||||
Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Proceeds from Interest Received | $ (0.2) | $ 9.8 | ||||
Accounts Receivable, Allowance for Credit Loss | 135.5 | 146.1 | $ 136.6 | $ 144.3 | $ 129.1 | $ 73 |
Off-Balance Sheet, Credit Loss, Liability | 3.4 | 2.3 | $ 3.4 | 3.7 | $ 2.1 | 0 |
Deferred tax liability, net | (25.2) | (27.2) | ||||
Retained Earnings (Accumulated Deficit) | $ 1,005.2 | 962.1 | ||||
Cumulative effect, period of adoption, adjusted balance | ||||||
Off-Balance Sheet, Credit Loss, Liability | $ 2.3 | $ 0 | $ 0 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Approximate Fair Values of Investment Securities (Details) - USD ($) $ in Millions | Jun. 07, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Schedule of Available for Sale and Held-to-Maturity Securities [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ 0 | |
Available-for-Sale: | |||
Amortized Cost | 3,949.4 | 3,932.7 | |
Gross Unrealized Gains | 37 | 81.7 | |
Gross Unrealized Losses | (28.6) | (5.7) | |
Estimated Fair Value | 3,957.8 | 4,008.7 | |
Held-to-Maturity: | |||
Amortized Cost | 1,685.5 | 51.6 | |
Gross Unrealized Gains | 25.5 | 3.4 | |
Gross Unrealized Losses | (9.1) | 0 | |
Estimated Fair Value | 1,701.9 | 55 | |
Debt Securities, Available-for-Sale and Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | $ 646.7 | ||
Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Allowance for Credit Loss, Expense | 672.2 | ||
U.S. Treasury notes | |||
Available-for-Sale: | |||
Amortized Cost | 497.1 | ||
Gross Unrealized Gains | 0 | ||
Gross Unrealized Losses | (0.2) | ||
Estimated Fair Value | 496.9 | ||
State, county and municipal securities | |||
Available-for-Sale: | |||
Amortized Cost | 449.2 | 462.1 | |
Gross Unrealized Gains | 2.5 | 4.8 | |
Gross Unrealized Losses | (7.2) | (1) | |
Estimated Fair Value | 444.5 | 465.9 | |
Held-to-Maturity: | |||
Amortized Cost | 72.4 | 46.6 | |
Gross Unrealized Gains | 2.6 | 3.2 | |
Gross Unrealized Losses | (0.5) | 0 | |
Estimated Fair Value | 74.5 | 49.8 | |
Obligations of U.S. government agencies | |||
Available-for-Sale: | |||
Amortized Cost | 333.2 | 332.9 | |
Gross Unrealized Gains | 0.4 | 1 | |
Gross Unrealized Losses | (6.7) | (2) | |
Estimated Fair Value | 326.9 | 331.9 | |
U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | |||
Available-for-Sale: | |||
Amortized Cost | 2,064.7 | 2,830.8 | |
Gross Unrealized Gains | 29.4 | 69.3 | |
Gross Unrealized Losses | (11.9) | (2.5) | |
Estimated Fair Value | 2,082.2 | 2,897.6 | |
Held-to-Maturity: | |||
Amortized Cost | 1,591.5 | 1 | |
Gross Unrealized Gains | 22.4 | 0.1 | |
Gross Unrealized Losses | (8.6) | 0 | |
Estimated Fair Value | 1,605.3 | 1.1 | |
Debt Securities, Available-for-Sale and Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 629.4 | ||
Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Allowance for Credit Loss, Expense | 654.5 | ||
Private mortgage-backed securities | |||
Available-for-Sale: | |||
Amortized Cost | 16.9 | 10.9 | |
Gross Unrealized Gains | 0.1 | 0.1 | |
Gross Unrealized Losses | 0 | (0.1) | |
Estimated Fair Value | 17 | 10.9 | |
Corporate securities | |||
Available-for-Sale: | |||
Amortized Cost | 401 | 295.8 | |
Gross Unrealized Gains | 4.6 | 6.5 | |
Gross Unrealized Losses | (2.6) | (0.1) | |
Estimated Fair Value | 403 | 302.2 | |
Held-to-Maturity: | |||
Amortized Cost | 21.6 | 3.9 | |
Gross Unrealized Gains | 0.5 | 0.1 | |
Gross Unrealized Losses | 0 | 0 | |
Estimated Fair Value | $ 22.1 | 4 | |
Debt Securities, Available-for-Sale and Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 17.3 | ||
Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Allowance for Credit Loss, Expense | $ 17.7 | ||
Other investments | |||
Available-for-Sale: | |||
Amortized Cost | 0.2 | ||
Gross Unrealized Gains | 0 | ||
Gross Unrealized Losses | 0 | ||
Estimated Fair Value | 0.2 | ||
Other Investments | |||
Held-to-Maturity: | |||
Amortized Cost | 0.1 | ||
Gross Unrealized Gains | 0 | ||
Gross Unrealized Losses | 0 | ||
Estimated Fair Value | $ 0.1 |
Investment Securities - Narrati
Investment Securities - Narrative (Details) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2021USD ($)Investments | Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($)Investments | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Investment securities classified as held to maturity | $ 1,685.5 | $ 51.6 | |
Investment securities in an unrealized loss position (securities) | Investments | 260 | 181 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0 | $ 0 | |
Municipal Debt Securities, at Carrying Value | $ 59.1 | ||
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share, Percent Debt Securities | 70.40% | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 3,949.4 | 3,932.7 | |
Debt Securities, Available-for-sale, Realized Gain | 0 | $ 0 | |
Debt Securities, Held-to-maturity, Sold, Realized Gain (Loss) | 0 | ||
Debt Securities, Available-for-sale, Realized Loss | 0 | $ 0 | |
State, county and municipal securities | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Investment securities classified as held to maturity | 72.4 | 46.6 | |
Debt Securities, Available-for-sale, Amortized Cost | 449.2 | $ 462.1 | |
813940 Political Organizations [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Municipal Debt Securities, at Carrying Value | 41.6 | ||
Residential Mortgage Backed Securities | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Debt Securities, Available-for-sale, Amortized Cost | 291.6 | ||
Callable Within One Year | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Amortized cost of investment securities callable after one year but within five years | 151.2 | ||
Fair value of investment securities callable after one year but within five years | 149.1 | ||
Callable structured notes amortized costs | $ 0 |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses and Fair Values of Investment Securities (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Available-for-Sale: | ||
Fair Value, Less than 12 Months | $ 2,118 | $ 838.6 |
Gross Unrealized Losses, Less than 12 Months | (28.6) | (5.5) |
Fair Value, 12 Months or Longer | 0 | 16.6 |
Gross Unrealized Losses, 12 Months or Longer | 0 | (0.2) |
Fair Value, Total | 2,118 | 855.2 |
Gross Unrealized Losses, Total | (28.6) | (5.7) |
Held-to-Maturity: | ||
Fair Value, Less than 12 Months | 771.3 | |
Gross Unrealized Losses, Less than 12 Months | (9.1) | |
Fair Value, 12 Months or Longer | 0 | |
Gross Unrealized Losses, 12 Months or Longer | 0 | |
Fair Value, Total | 771.3 | |
Gross Unrealized Losses, Total | (9.1) | |
Debt Securities, Available-for-sale, Amortized Cost | 3,949.4 | 3,932.7 |
Estimated Fair Value | 3,957.8 | 4,008.7 |
Investment securities classified as held to maturity | 1,685.5 | 51.6 |
State, county and municipal securities | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 260.3 | 148.1 |
Gross Unrealized Losses, Less than 12 Months | (7.2) | (1) |
Fair Value, 12 Months or Longer | 0 | 0 |
Gross Unrealized Losses, 12 Months or Longer | 0 | 0 |
Fair Value, Total | 260.3 | 148.1 |
Gross Unrealized Losses, Total | (7.2) | (1) |
Held-to-Maturity: | ||
Debt Securities, Available-for-sale, Amortized Cost | 449.2 | 462.1 |
Estimated Fair Value | 444.5 | 465.9 |
Investment securities classified as held to maturity | 72.4 | 46.6 |
Obligations of U.S. government agencies | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 293.7 | 235.6 |
Gross Unrealized Losses, Less than 12 Months | (6.7) | (2) |
Fair Value, 12 Months or Longer | 0 | 0 |
Gross Unrealized Losses, 12 Months or Longer | 0 | 0 |
Fair Value, Total | 293.7 | 235.6 |
Gross Unrealized Losses, Total | (6.7) | (2) |
Held-to-Maturity: | ||
Debt Securities, Available-for-sale, Amortized Cost | 333.2 | 332.9 |
Estimated Fair Value | 326.9 | 331.9 |
U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 870.9 | 434 |
Gross Unrealized Losses, Less than 12 Months | (11.9) | (2.4) |
Fair Value, 12 Months or Longer | 0 | 12.3 |
Gross Unrealized Losses, 12 Months or Longer | 0 | (0.1) |
Fair Value, Total | 870.9 | 446.3 |
Gross Unrealized Losses, Total | (11.9) | (2.5) |
Held-to-Maturity: | ||
Fair Value, Less than 12 Months | 742 | |
Gross Unrealized Losses, Less than 12 Months | (8.6) | |
Fair Value, 12 Months or Longer | 0 | |
Gross Unrealized Losses, 12 Months or Longer | 0 | |
Fair Value, Total | 742 | |
Gross Unrealized Losses, Total | (8.6) | |
Debt Securities, Available-for-sale, Amortized Cost | 2,064.7 | 2,830.8 |
Estimated Fair Value | 2,082.2 | 2,897.6 |
Investment securities classified as held to maturity | 1,591.5 | 1 |
Debt Securities, Unrealized Gain (Loss) | 24.4 | |
Private mortgage-backed securities | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 0 | |
Gross Unrealized Losses, Less than 12 Months | 0 | |
Fair Value, 12 Months or Longer | 4.3 | |
Gross Unrealized Losses, 12 Months or Longer | (0.1) | |
Fair Value, Total | 4.3 | |
Gross Unrealized Losses, Total | (0.1) | |
Held-to-Maturity: | ||
Debt Securities, Available-for-sale, Amortized Cost | 16.9 | 10.9 |
Estimated Fair Value | 17 | 10.9 |
Corporate securities | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 196.2 | 20.9 |
Gross Unrealized Losses, Less than 12 Months | (2.6) | (0.1) |
Fair Value, 12 Months or Longer | 0 | 0 |
Gross Unrealized Losses, 12 Months or Longer | 0 | 0 |
Fair Value, Total | 196.2 | 20.9 |
Gross Unrealized Losses, Total | (2.6) | (0.1) |
Held-to-Maturity: | ||
Fair Value, Less than 12 Months | 29.3 | |
Gross Unrealized Losses, Less than 12 Months | (0.5) | |
Fair Value, 12 Months or Longer | 0 | |
Gross Unrealized Losses, 12 Months or Longer | 0 | |
Fair Value, Total | 29.3 | |
Gross Unrealized Losses, Total | (0.5) | |
Debt Securities, Available-for-sale, Amortized Cost | 401 | 295.8 |
Estimated Fair Value | 403 | 302.2 |
Investment securities classified as held to maturity | 21.6 | $ 3.9 |
Debt and Equity Securities, Unrealized Gain (Loss) | 0.4 | |
Residential Mortgage Backed Securities | ||
Held-to-Maturity: | ||
Debt Securities, Available-for-sale, Amortized Cost | 291.6 | |
Collateralized Loan Obligations | ||
Held-to-Maturity: | ||
Debt Securities, Available-for-sale, Amortized Cost | 187.3 | |
Estimated Fair Value | 187.3 | |
Available-for-sale Securities, Gross Unrealized Loss | 0 | |
Available-for-sale Securities, Gross Unrealized Gain | 0 | |
US Treasury Notes Securities | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 496.9 | |
Gross Unrealized Losses, Less than 12 Months | (0.2) | |
Fair Value, 12 Months or Longer | 0 | |
Gross Unrealized Losses, 12 Months or Longer | 0 | |
Fair Value, Total | 496.9 | |
Gross Unrealized Losses, Total | $ (0.2) |
Investment Securities - Maturit
Investment Securities - Maturities of Investment Securities (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Available-for-Sale, Amortized Cost | ||
Available-for-Sale Amortized Cost, Within One Year | $ 624.8 | |
Available-for-Sale Amortized Cost, After One Year but Within Five Years | 1,516.3 | |
Available-for-Sale Amortized Cost, After Five Years but Within Ten Years | 1,062.4 | |
Available-for-Sale Amortized Cost, After Ten Years | 745.9 | |
Amortized Cost | 3,949.4 | $ 3,932.7 |
Available-for-Sale, Estimated Fair Value | ||
Available-for-Sale Estimated Fair Value, Within One Year | 723.9 | |
Available-for-Sale Estimated Fair Value, After One Year but Within Five Years | 1,626.9 | |
Available-for-Sale Estimated Fair Value, After Five Years but Within Ten Years | 935.5 | |
Available-for-Sale Estimated Fair Value, After Ten Years | 671.5 | |
Available-for-Sale, Estimated Fair Value | 3,957.8 | 4,008.7 |
Held-to-Maturity, Amortized Cost | ||
Held-to-Maturity Amortized Cost, Within One Year | 682.2 | |
Held-to-Maturity Amortized Cost, After One Year but Within Five Years | 393.3 | |
Held-to-Maturity Amortized Cost, After Five Years but Within Ten Years | 272.9 | |
Held-to-Maturity Amortized Cost, After Ten Years | 337.1 | |
Amortized Cost | 1,685.5 | 51.6 |
Held-to-Maturity, Estimated Fair Value | ||
Held-to-Maturity Estimated Fair Value, Within One Year | 688.1 | |
Held-to-Maturity Estimated Fair Value, After One Year but Within Five Years | 398.2 | |
Held-to-Maturity Estimated Fair Value, After Five Years but Within Ten Years | 276 | |
Held-to-Maturity Estimated Fair Value, After Ten Years | 339.6 | |
Held-to-Maturity, Estimated Fair Value | 1,701.9 | 55 |
Securities Sold under Agreements to Repurchase [Abstract] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | 2,425.7 | 2,323 |
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | $ 2,456 | $ 2,383.6 |
Loans Held for Investment - Sch
Loans Held for Investment - Schedule of Loans by Segment (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Deferred loan fees and costs | $ (32.5) | $ (21) | ||||
Loans held for investment, net of deferred fees and costs | 9,834.7 | 9,807.5 | ||||
Allowance for credit losses | (135.5) | $ (136.6) | (144.3) | $ (146.1) | $ (129.1) | $ (73) |
Net loans held for investment | 9,699.2 | 9,663.2 | ||||
Commercial real estate | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 3,753.4 | 3,743.2 | ||||
Allowance for credit losses | (51.1) | (52.2) | (54.8) | (51.2) | (39.5) | (19.5) |
Financing Receivable, Loan in Process | 3.6 | 12.8 | ||||
Commercial real estate | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 2.8 | 7.6 | ||||
Commercial real estate | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.4 | 1.2 | ||||
Commercial real estate | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.4 | 4 | ||||
Commercial real estate | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 3,740.5 | 3,720.8 | ||||
Land acquisition & development | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 261.1 | 265 | ||||
Allowance for credit losses | (1) | (1.2) | (1.3) | (1.5) | (1.4) | (1.9) |
Financing Receivable, Loan in Process | 0.5 | 3.7 | ||||
Land acquisition & development | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.5 | 2.5 | ||||
Land acquisition & development | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 1.1 | ||||
Land acquisition & development | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 0.1 | ||||
Land acquisition & development | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 260.1 | 260.6 | ||||
Residential | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 263.5 | 250.9 | ||||
Allowance for credit losses | (1.5) | (1.4) | (1.6) | (1.3) | (1.1) | (1.5) |
Financing Receivable, Loan in Process | 0.6 | 1.9 | ||||
Residential | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.2 | 1.5 | ||||
Residential | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 0.4 | ||||
Residential | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.4 | 0 | ||||
Residential | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 262.9 | 247.9 | ||||
Commercial | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 632 | 523.5 | ||||
Allowance for credit losses | (8) | (7.2) | (7.3) | (6.3) | (6.1) | (2.7) |
Financing Receivable, Loan in Process | 3.8 | 12.2 | ||||
Commercial | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 2.1 | 12.2 | ||||
Commercial | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 1.7 | 0 | ||||
Commercial | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 0 | ||||
Commercial | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 628.2 | 511.2 | ||||
Total construction loans | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 1,156.6 | 1,039.4 | ||||
Financing Receivable, Loan in Process | 4.9 | 17.8 | ||||
Total construction loans | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 2.8 | 16.2 | ||||
Total construction loans | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 1.7 | 1.5 | ||||
Total construction loans | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.4 | 0.1 | ||||
Total construction loans | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 1,151.2 | 1,019.7 | ||||
Residential | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 1,577.7 | 1,396.3 | ||||
Allowance for credit losses | (14.8) | (12.9) | (12.8) | (11.8) | (14.3) | (2.8) |
Financing Receivable, Loan in Process | 3.3 | 6.8 | ||||
Residential | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.7 | 4.7 | ||||
Residential | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 1.4 | 1.6 | ||||
Residential | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 1.2 | 0.5 | ||||
Residential | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 1,571.2 | 1,384.9 | ||||
Agricultural | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 223.5 | 220.6 | ||||
Allowance for credit losses | (3) | (2.8) | (2.7) | (3.1) | (2.6) | (0.5) |
Financing Receivable, Loan in Process | 0.1 | 2 | ||||
Agricultural | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 2 | ||||
Agricultural | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 0 | ||||
Agricultural | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.1 | 0 | ||||
Agricultural | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 217.4 | 212.4 | ||||
Total real estate loans | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 6,711.2 | 6,399.5 | ||||
Allowance for credit losses | (79.4) | (77.7) | (80.5) | (75.2) | (65) | (28.9) |
Financing Receivable, Loan in Process | 11.9 | 39.4 | ||||
Total real estate loans | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 6.3 | 30.5 | ||||
Total real estate loans | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 3.5 | 4.3 | ||||
Total real estate loans | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 2.1 | 4.6 | ||||
Total real estate loans | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 6,680.3 | 6,337.8 | ||||
Indirect consumer | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 773.7 | 805.1 | ||||
Allowance for credit losses | (15.8) | (16) | (16.7) | (16.4) | (16.7) | (4.5) |
Financing Receivable, Loan in Process | 4.3 | 8.9 | ||||
Indirect consumer | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 3.3 | 6.4 | ||||
Indirect consumer | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.8 | 2 | ||||
Indirect consumer | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.2 | 0.5 | ||||
Indirect consumer | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 767.7 | 794.3 | ||||
Direct and advance lines | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 134.8 | 150.6 | ||||
Allowance for credit losses | (4.6) | (4.8) | (4.6) | (5.1) | (5.5) | (2.9) |
Financing Receivable, Loan in Process | 0.7 | 1.2 | ||||
Direct and advance lines | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.4 | 0.8 | ||||
Direct and advance lines | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.1 | 0.2 | ||||
Direct and advance lines | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.2 | 0.2 | ||||
Direct and advance lines | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 133.9 | 149 | ||||
Credit card | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 64.4 | 70.2 | ||||
Allowance for credit losses | (1.6) | (1.5) | (2.6) | (2) | (2.6) | (2.5) |
Financing Receivable, Loan in Process | 1 | 1.6 | ||||
Credit card | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.5 | 0.6 | ||||
Credit card | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.2 | 0.4 | ||||
Credit card | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.3 | 0.6 | ||||
Credit card | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 63.4 | 68.6 | ||||
Total consumer loans | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 972.9 | 1,025.9 | ||||
Allowance for credit losses | (22) | (22.3) | (23.9) | (23.5) | (24.8) | (9.9) |
Financing Receivable, Loan in Process | 6 | 11.7 | ||||
Total consumer loans | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 4.2 | 7.8 | ||||
Total consumer loans | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 1.1 | 2.6 | ||||
Total consumer loans | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.7 | 1.3 | ||||
Total consumer loans | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 965 | 1,011.9 | ||||
Commercial | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 1,959.4 | 2,153.9 | ||||
Allowance for credit losses | (33.7) | (36) | (39.2) | (46.5) | (38.2) | (32.6) |
Financing Receivable, Loan in Process | 8 | 9.2 | ||||
Commercial | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 3.6 | 6.2 | ||||
Commercial | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 2.3 | 1.8 | ||||
Commercial | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 2.1 | 1.2 | ||||
Commercial | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 1,944.1 | 2,132.9 | ||||
Agricultural | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 217.7 | 247.6 | ||||
Allowance for credit losses | (0.4) | $ (0.6) | (0.7) | $ (0.9) | $ (1.1) | $ (1.6) |
Financing Receivable, Loan in Process | 1.4 | 2.4 | ||||
Agricultural | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.8 | 0.4 | ||||
Agricultural | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.3 | 0.6 | ||||
Agricultural | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0.3 | 1.4 | ||||
Agricultural | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 214.1 | 242.1 | ||||
Other, including overdrafts | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 6 | 1.6 | ||||
Financing Receivable, Loan in Process | 0 | 0 | ||||
Other, including overdrafts | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 0 | ||||
Other, including overdrafts | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 0 | ||||
Other, including overdrafts | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 0 | 0 | ||||
Other, including overdrafts | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 6 | 1.6 | ||||
Loans And Leases Held For Investment [Member] | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Loans held for investment | 9,867.2 | 9,828.5 | ||||
Financing Receivable, Loan in Process | 27.3 | 62.7 | ||||
Loans And Leases Held For Investment [Member] | 30 to 59 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 14.9 | 44.9 | ||||
Loans And Leases Held For Investment [Member] | 60 to 89 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 7.2 | 9.3 | ||||
Loans And Leases Held For Investment [Member] | Equal to or Greater than 90 Days Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | 5.2 | 8.5 | ||||
Loans And Leases Held For Investment [Member] | Financial Asset, Not Past Due | ||||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||||
Financing Receivable, Loan in Process | $ 9,809.5 | $ 9,726.3 |
Loans Held for Investment - S_2
Loans Held for Investment - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | $ 0 | $ 19.5 | $ (5.1) | $ 48.5 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 136.6 | 129.1 | 144.3 | 73 |
Loans Charged-Off | (4.8) | (4.1) | (9.7) | (8.7) |
Recoveries Collected | 3.7 | 1.8 | 5.7 | 3.3 |
Ending balance | 135.5 | 146.1 | 135.5 | 146.1 |
Loans and Leases Receivable, Allowance | (4.8) | |||
Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 30 | |||
Non-owner occupied | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.2 | 7.9 | 2.7 | 9.9 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 23 | 15.7 | 25.5 | 8.8 |
Loans Charged-Off | 0 | 0 | 0 | 0 |
Recoveries Collected | 0.1 | 0 | 0.1 | 0 |
Ending balance | 22.9 | 23.6 | 22.9 | 23.6 |
Non-owner occupied | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 4.9 | |||
Owner occupied | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 1.4 | 3.4 | 0.6 | 5.6 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 17.4 | 15.7 | 18.3 | 10 |
Loans Charged-Off | (2.2) | (0.1) | (2.3) | (0.1) |
Recoveries Collected | 0 | 0.1 | 0 | 0.1 |
Ending balance | 16.6 | 19.1 | 16.6 | 19.1 |
Owner occupied | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 3.5 | |||
Multi-family | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.2 | 0.4 | 0.6 | 0.9 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 11.8 | 8.1 | 11 | 0.7 |
Loans Charged-Off | 0 | 0 | 0 | 0 |
Recoveries Collected | 0 | 0 | 0 | 0 |
Ending balance | 11.6 | 8.5 | 11.6 | 8.5 |
Multi-family | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 6.9 | |||
Commercial real estate | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 1 | 11.7 | 1.5 | 16.4 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 52.2 | 39.5 | 54.8 | 19.5 |
Loans Charged-Off | (2.2) | (0.1) | (2.3) | (0.1) |
Recoveries Collected | 0.1 | 0.1 | 0.1 | 0.1 |
Ending balance | 51.1 | 51.2 | 51.1 | 51.2 |
Commercial real estate | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 15.3 | |||
Agricultural | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0 | 0.1 | 0.1 | 0 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.6 | 1.1 | 0.7 | 1.6 |
Loans Charged-Off | (0.2) | (0.1) | (0.2) | (0.1) |
Recoveries Collected | 0 | 0 | 0 | 0 |
Ending balance | 0.4 | 0.9 | 0.4 | 0.9 |
Agricultural | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (0.6) | |||
Commercial and floor plans | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 3.4 | 7.7 | 5.2 | 21.2 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 31 | 33.5 | 34.2 | 25.5 |
Loans Charged-Off | (0.3) | (0.6) | (2.1) | (1.4) |
Recoveries Collected | 1.7 | 0.4 | 2.1 | 0.8 |
Ending balance | 29 | 41 | 29 | 41 |
Commercial and floor plans | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (5.1) | |||
Commercial purpose secured by 1-4 family | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.4 | 0.6 | 0.6 | 3 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 4.7 | 4.4 | 4.7 | 5.9 |
Loans Charged-Off | (0.1) | 0 | (0.1) | (0.1) |
Recoveries Collected | 0.2 | 0.1 | 0.4 | 0.1 |
Ending balance | 4.4 | 5.1 | 4.4 | 5.1 |
Commercial purpose secured by 1-4 family | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (3.8) | |||
Land acquisition & development | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.4 | 0.1 | 0.6 | 0.2 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.2 | 1.4 | 1.3 | 1.9 |
Loans Charged-Off | (0.1) | 0 | (0.1) | (0.5) |
Recoveries Collected | 0.3 | 0 | 0.4 | 0 |
Ending balance | 1 | 1.5 | 1 | 1.5 |
Land acquisition & development | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (0.1) | |||
Residential construction | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.2 | 0.2 | 0 | 0.7 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.4 | 1.1 | 1.6 | 1.5 |
Loans Charged-Off | (0.1) | 0 | (0.1) | 0 |
Recoveries Collected | 0 | 0 | 0 | 0 |
Ending balance | 1.5 | 1.3 | 1.5 | 1.3 |
Residential construction | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (0.9) | |||
Commercial construction | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.9 | 0.2 | 0.7 | 2.3 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 7.2 | 6.1 | 7.3 | 2.7 |
Loans Charged-Off | (0.1) | 0 | (0.1) | 0 |
Recoveries Collected | 0 | 0 | 0.1 | 0 |
Ending balance | 8 | 6.3 | 8 | 6.3 |
Commercial construction | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.3 | |||
Total construction | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.7 | 0.5 | 0.1 | 3.2 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 9.8 | 8.6 | 10.2 | 6.1 |
Loans Charged-Off | (0.3) | 0 | (0.3) | (0.5) |
Recoveries Collected | 0.3 | 0 | 0.5 | 0 |
Ending balance | 10.5 | 9.1 | 10.5 | 9.1 |
Total construction | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.3 | |||
Residential 1-4 family | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 1.9 | 2.7 | 2 | 2.2 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 11.5 | 12.9 | 11.4 | 1.8 |
Loans Charged-Off | 0 | 0 | 0 | 0 |
Recoveries Collected | 0 | 0.1 | 0 | 0.1 |
Ending balance | 13.4 | 10.3 | 13.4 | 10.3 |
Residential 1-4 family | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 10.6 | |||
Home equity and HELOC | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.1 | 0 | 0.1 | 0.1 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.4 | 1.4 | 1.4 | 1 |
Loans Charged-Off | 0 | 0 | (0.1) | 0 |
Recoveries Collected | 0.1 | 0.1 | 0.2 | 0.1 |
Ending balance | 1.4 | 1.5 | 1.4 | 1.5 |
Residential | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 1.8 | 2.7 | 1.9 | 2.3 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 12.9 | 14.3 | 12.8 | 2.8 |
Loans Charged-Off | 0 | 0 | (0.1) | 0 |
Recoveries Collected | 0.1 | 0.2 | 0.2 | 0.2 |
Ending balance | 14.8 | 11.8 | 14.8 | 11.8 |
Residential | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 11.1 | |||
Agricultural | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.2 | 0.5 | 0.3 | 0.8 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 2.8 | 2.6 | 2.7 | 0.5 |
Loans Charged-Off | 0 | 0 | 0 | 0 |
Recoveries Collected | 0 | 0 | 0 | 0 |
Ending balance | 3 | 3.1 | 3 | 3.1 |
Agricultural | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.8 | |||
Total real estate loans | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 3.7 | 10 | 0.8 | 18.1 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 77.7 | 65 | 80.5 | 28.9 |
Loans Charged-Off | (2.5) | (0.1) | (2.7) | (0.6) |
Recoveries Collected | 0.5 | 0.3 | 0.8 | 0.3 |
Ending balance | 79.4 | 75.2 | 79.4 | 75.2 |
Total real estate loans | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 28.5 | |||
Indirect consumer | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.2 | 0.5 | 0.2 | 4.4 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 16 | 16.7 | 16.7 | 4.5 |
Loans Charged-Off | (0.8) | (1.2) | (2.1) | (2.4) |
Recoveries Collected | 0.8 | 0.4 | 1.4 | 1.1 |
Ending balance | 15.8 | 16.4 | 15.8 | 16.4 |
Indirect consumer | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 8.8 | |||
Direct and advance lines | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0 | 0.3 | 0.7 | 0.7 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 4.8 | 5.5 | 4.6 | 2.9 |
Loans Charged-Off | (0.4) | (1) | (1.2) | (2) |
Recoveries Collected | 0.2 | 0.3 | 0.5 | 0.5 |
Ending balance | 4.6 | 5.1 | 4.6 | 5.1 |
Direct and advance lines | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 3 | |||
Credit card | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.3 | 0 | 0.4 | 0.4 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.5 | 2.6 | 2.6 | 2.5 |
Loans Charged-Off | (0.4) | (0.8) | (1) | (1.6) |
Recoveries Collected | 0.2 | 0.2 | 0.4 | 0.4 |
Ending balance | 1.6 | 2 | 1.6 | 2 |
Credit card | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.3 | |||
Total consumer loans | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0.1 | 0.8 | 0.1 | 5.5 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 22.3 | 24.8 | 23.9 | 9.9 |
Loans Charged-Off | (1.6) | (3) | (4.3) | (6) |
Recoveries Collected | 1.2 | 0.9 | 2.3 | 2 |
Ending balance | 22 | 23.5 | 22 | 23.5 |
Total consumer loans | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 12.1 | |||
Credit card | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0 | 0.3 | 0.2 | 0.7 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.3 | 0.3 | 0.3 | 1.2 |
Loans Charged-Off | (0.1) | (0.3) | (0.3) | (0.5) |
Recoveries Collected | 0.1 | 0.1 | 0.1 | 0.1 |
Ending balance | 0.3 | 0.4 | 0.3 | 0.4 |
Credit card | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (1.1) | |||
Commercial | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 3.8 | 8.6 | 5.6 | 24.9 |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 36 | 38.2 | 39.2 | 32.6 |
Loans Charged-Off | (0.5) | (0.9) | (2.5) | (2) |
Recoveries Collected | 2 | 0.6 | 2.6 | 1 |
Ending balance | 33.7 | 46.5 | 33.7 | 46.5 |
Commercial | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (10) | |||
Agriculture Portfolio Segment [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
(Reversal of) provision for credit losses | 0 | 0.1 | 0 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.6 | 1.1 | ||
Loans Charged-Off | (0.2) | (0.1) | (0.1) | |
Recoveries Collected | 0 | 0 | 0 | |
Ending balance | $ 0.4 | $ 0.9 | $ 0.4 | 0.9 |
Agriculture Portfolio Segment [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (0.6) | |||
Consumer Home Equity and HELOC | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | $ 0.5 |
Loans Held for Investment - S_3
Loans Held for Investment - Schedule of Allowance for Credit Losses for Loans Held for Investment (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | $ 136.6 | $ 129.1 | $ 144.3 | $ 73 |
Provision charged to operating expense | 0 | (19.5) | 5.1 | (48.5) |
Loans Charged-Off | (4.8) | (4.1) | (9.7) | (8.7) |
Ending balance | 135.5 | 146.1 | 135.5 | 146.1 |
Financing Receivable, Allowance for Credit Loss, Recovery | 3.7 | 1.8 | 5.7 | 3.3 |
Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 30 | |||
Commercial Real Estate Non Owner Occupied Loans [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 23 | 15.7 | 25.5 | 8.8 |
Provision charged to operating expense | (0.2) | (7.9) | (2.7) | (9.9) |
Loans Charged-Off | 0 | 0 | 0 | 0 |
Ending balance | 22.9 | 23.6 | 22.9 | 23.6 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.1 | 0 | 0.1 | 0 |
Commercial Real Estate Non Owner Occupied Loans [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 4.9 | |||
Agricultural Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.6 | 1.1 | 0.7 | 1.6 |
Provision charged to operating expense | 0 | (0.1) | (0.1) | 0 |
Loans Charged-Off | (0.2) | (0.1) | (0.2) | (0.1) |
Ending balance | 0.4 | 0.9 | 0.4 | 0.9 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | 0 | 0 |
Agricultural Financing Receivable [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (0.6) | |||
Commercial and Floor Plans [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 31 | 33.5 | 34.2 | 25.5 |
Provision charged to operating expense | (3.4) | (7.7) | (5.2) | (21.2) |
Loans Charged-Off | (0.3) | (0.6) | (2.1) | (1.4) |
Ending balance | 29 | 41 | 29 | 41 |
Financing Receivable, Allowance for Credit Loss, Recovery | 1.7 | 0.4 | 2.1 | 0.8 |
Commercial and Floor Plans [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (5.1) | |||
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 17.4 | 15.7 | 18.3 | 10 |
Provision charged to operating expense | (1.4) | (3.4) | (0.6) | (5.6) |
Loans Charged-Off | (2.2) | (0.1) | (2.3) | (0.1) |
Ending balance | 16.6 | 19.1 | 16.6 | 19.1 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0.1 | 0 | 0.1 |
Commercial Real Estate Owner Occupied [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 3.5 | |||
Commercial Real Estate Multi-family [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 11.8 | 8.1 | 11 | 0.7 |
Provision charged to operating expense | (0.2) | (0.4) | (0.6) | (0.9) |
Loans Charged-Off | 0 | 0 | 0 | 0 |
Ending balance | 11.6 | 8.5 | 11.6 | 8.5 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | 0 | 0 |
Commercial Real Estate Multi-family [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 6.9 | |||
Commercial real estate | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 52.2 | 39.5 | 54.8 | 19.5 |
Provision charged to operating expense | (1) | (11.7) | (1.5) | (16.4) |
Loans Charged-Off | (2.2) | (0.1) | (2.3) | (0.1) |
Ending balance | 51.1 | 51.2 | 51.1 | 51.2 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.1 | 0.1 | 0.1 | 0.1 |
Commercial real estate | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 15.3 | |||
Land Acquisition And Development Construction Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.2 | 1.4 | 1.3 | 1.9 |
Provision charged to operating expense | (0.4) | (0.1) | (0.6) | (0.2) |
Loans Charged-Off | (0.1) | 0 | (0.1) | (0.5) |
Ending balance | 1 | 1.5 | 1 | 1.5 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.3 | 0 | 0.4 | 0 |
Land Acquisition And Development Construction Financing Receivable [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (0.1) | |||
Residential construction | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.4 | 1.1 | 1.6 | 1.5 |
Provision charged to operating expense | (0.2) | (0.2) | 0 | (0.7) |
Loans Charged-Off | (0.1) | 0 | (0.1) | 0 |
Ending balance | 1.5 | 1.3 | 1.5 | 1.3 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | 0 | 0 |
Residential construction | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (0.9) | |||
Commercial construction | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 7.2 | 6.1 | 7.3 | 2.7 |
Provision charged to operating expense | (0.9) | (0.2) | (0.7) | (2.3) |
Loans Charged-Off | (0.1) | 0 | (0.1) | 0 |
Ending balance | 8 | 6.3 | 8 | 6.3 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | 0.1 | 0 |
Commercial construction | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.3 | |||
Construction Loans [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 9.8 | 8.6 | 10.2 | 6.1 |
Provision charged to operating expense | (0.7) | (0.5) | (0.1) | (3.2) |
Loans Charged-Off | (0.3) | 0 | (0.3) | (0.5) |
Ending balance | 10.5 | 9.1 | 10.5 | 9.1 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.3 | 0 | 0.5 | 0 |
Construction Loans [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.3 | |||
Residential Real Estate 1-4 Family [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 11.5 | 12.9 | 11.4 | 1.8 |
Provision charged to operating expense | (1.9) | (2.7) | (2) | (2.2) |
Loans Charged-Off | 0 | 0 | 0 | 0 |
Ending balance | 13.4 | 10.3 | 13.4 | 10.3 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0.1 | 0 | 0.1 |
Residential Real Estate 1-4 Family [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 10.6 | |||
Home Equity Line of Credit [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.4 | 1.4 | 1.4 | 1 |
Provision charged to operating expense | (0.1) | 0 | (0.1) | (0.1) |
Loans Charged-Off | 0 | 0 | (0.1) | 0 |
Ending balance | 1.4 | 1.5 | 1.4 | 1.5 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.1 | 0.1 | 0.2 | 0.1 |
Residential Real Estate [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 12.9 | 14.3 | 12.8 | 2.8 |
Provision charged to operating expense | (1.8) | (2.7) | (1.9) | (2.3) |
Loans Charged-Off | 0 | 0 | (0.1) | 0 |
Ending balance | 14.8 | 11.8 | 14.8 | 11.8 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.1 | 0.2 | 0.2 | 0.2 |
Residential Real Estate [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 11.1 | |||
Agricultural Real Estate Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 2.8 | 2.6 | 2.7 | 0.5 |
Provision charged to operating expense | (0.2) | (0.5) | (0.3) | (0.8) |
Loans Charged-Off | 0 | 0 | 0 | 0 |
Ending balance | 3 | 3.1 | 3 | 3.1 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | 0 | 0 |
Agricultural Real Estate Financing Receivable [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.8 | |||
Real Estate Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 77.7 | 65 | 80.5 | 28.9 |
Provision charged to operating expense | (3.7) | (10) | (0.8) | (18.1) |
Loans Charged-Off | (2.5) | (0.1) | (2.7) | (0.6) |
Ending balance | 79.4 | 75.2 | 79.4 | 75.2 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.5 | 0.3 | 0.8 | 0.3 |
Real Estate Financing Receivable [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 28.5 | |||
Consumer Indirect Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 16 | 16.7 | 16.7 | 4.5 |
Provision charged to operating expense | (0.2) | (0.5) | (0.2) | (4.4) |
Loans Charged-Off | (0.8) | (1.2) | (2.1) | (2.4) |
Ending balance | 15.8 | 16.4 | 15.8 | 16.4 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.8 | 0.4 | 1.4 | 1.1 |
Consumer Indirect Financing Receivable [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 8.8 | |||
Direct consumer | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 4.8 | 5.5 | 4.6 | 2.9 |
Provision charged to operating expense | 0 | (0.3) | (0.7) | (0.7) |
Loans Charged-Off | (0.4) | (1) | (1.2) | (2) |
Ending balance | 4.6 | 5.1 | 4.6 | 5.1 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.2 | 0.3 | 0.5 | 0.5 |
Direct consumer | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 3 | |||
Credit Card Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1.5 | 2.6 | 2.6 | 2.5 |
Provision charged to operating expense | (0.3) | 0 | (0.4) | (0.4) |
Loans Charged-Off | (0.4) | (0.8) | (1) | (1.6) |
Ending balance | 1.6 | 2 | 1.6 | 2 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.2 | 0.2 | 0.4 | 0.4 |
Credit Card Receivable [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.3 | |||
Consumer | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 22.3 | 24.8 | 23.9 | 9.9 |
Provision charged to operating expense | (0.1) | (0.8) | (0.1) | (5.5) |
Loans Charged-Off | (1.6) | (3) | (4.3) | (6) |
Ending balance | 22 | 23.5 | 22 | 23.5 |
Financing Receivable, Allowance for Credit Loss, Recovery | 1.2 | 0.9 | 2.3 | 2 |
Consumer | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 12.1 | |||
Commercial Purpose secured by 1-4 Family [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 4.7 | 4.4 | 4.7 | 5.9 |
Provision charged to operating expense | (0.4) | (0.6) | (0.6) | (3) |
Loans Charged-Off | (0.1) | 0 | (0.1) | (0.1) |
Ending balance | 4.4 | 5.1 | 4.4 | 5.1 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.2 | 0.1 | 0.4 | 0.1 |
Commercial Purpose secured by 1-4 Family [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (3.8) | |||
Commercial Borrower [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.3 | 0.3 | 0.3 | 1.2 |
Provision charged to operating expense | 0 | (0.3) | (0.2) | (0.7) |
Loans Charged-Off | (0.1) | (0.3) | (0.3) | (0.5) |
Ending balance | 0.3 | 0.4 | 0.3 | 0.4 |
Financing Receivable, Allowance for Credit Loss, Recovery | 0.1 | 0.1 | 0.1 | 0.1 |
Commercial Borrower [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (1.1) | |||
Commercial Portfolio Segment [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 36 | 38.2 | 39.2 | 32.6 |
Provision charged to operating expense | (3.8) | (8.6) | (5.6) | (24.9) |
Loans Charged-Off | (0.5) | (0.9) | (2.5) | (2) |
Ending balance | 33.7 | 46.5 | 33.7 | 46.5 |
Financing Receivable, Allowance for Credit Loss, Recovery | 2 | 0.6 | 2.6 | 1 |
Commercial Portfolio Segment [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | (10) | |||
Agriculture Portfolio Segment [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 0.6 | 1.1 | ||
Provision charged to operating expense | 0 | (0.1) | 0 | |
Loans Charged-Off | (0.2) | (0.1) | (0.1) | |
Ending balance | 0.4 | 0.9 | $ 0.4 | 0.9 |
Financing Receivable, Allowance for Credit Loss, Recovery | $ 0 | $ 0 | 0 | |
Agriculture Portfolio Segment [Member] | Cumulative-Effect Adjustment, Consolidation of Variable Interest Entity | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | $ (0.6) |
Loans Held for Investment - Nar
Loans Held for Investment - Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Receivables [Abstract] | |||||
Loans renegotiated in troubled debt restructurings | $ 7,200,000 | $ 7,200,000 | $ 14,500,000 | ||
Troubled restructurings included in non-accrual loans | 5,000,000 | 5,000,000 | 11,300,000 | ||
Loans renegotiated in troubled debt restructurings, accrual loans | 2,200,000 | 2,200,000 | 3,200,000 | ||
Financing receivable, after allowance for credit loss, noncurrent | 200,000 | 200,000 | 2,900,000 | ||
TDR commitment to lend | $ 0 | ||||
Troubled debt restructurings | 0 | 0 | |||
Charge-offs directly related to modifying troubled debt restructurings | 0 | $ 0 | 0 | $ 0 | |
Balance of defaulted loans under trouble debt restructurings | 0 | 0 | |||
Impaired financing receivable, recorded investment | 67,400,000 | 67,400,000 | |||
Commitments to purchase or sell | 0 | 0 | 0 | 0 | |
Proceeds from sale of loans held-for-investment | $ 0 | $ 0 | $ 0 | $ 0 |
Loans Held for Investment - S_4
Loans Held for Investment - Schedule of Recorded Investment in Impaired Loans (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Provision charged to operating expense | $ 0 | $ (19.5) | $ 5.1 | $ (48.5) | ||||
Accounts Receivable, Allowance for Credit Loss | 135.5 | 146.1 | 135.5 | 146.1 | $ 136.6 | $ 144.3 | $ 129.1 | $ 73 |
Collateral dependent borrowings | 15.7 | 15.7 | 17.5 | |||||
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | 0 | 19.3 | 48.5 | |||||
Balance of defaulted loans under trouble debt restructurings | 0 | 0 | ||||||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | 0 | 0 | ||||
Agriculture Portfolio Segment [Member] | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Provision charged to operating expense | 0 | (0.1) | 0 | |||||
Accounts Receivable, Allowance for Credit Loss | 0.4 | 0.9 | 0.4 | 0.9 | 0.6 | 1.1 | ||
Total real estate loans | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Provision charged to operating expense | (3.7) | (10) | (0.8) | (18.1) | ||||
Accounts Receivable, Allowance for Credit Loss | 79.4 | 75.2 | 79.4 | 75.2 | 77.7 | 80.5 | 65 | 28.9 |
Collateral dependent borrowings | 10.9 | 10.9 | 8.9 | |||||
Commercial | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Provision charged to operating expense | (3.8) | (8.6) | (5.6) | (24.9) | ||||
Accounts Receivable, Allowance for Credit Loss | 33.7 | 46.5 | 33.7 | 46.5 | 36 | 39.2 | 38.2 | 32.6 |
Collateral dependent borrowings | 4.1 | 4.1 | 7.8 | |||||
Agricultural | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Provision charged to operating expense | 0 | (0.1) | (0.1) | 0 | ||||
Accounts Receivable, Allowance for Credit Loss | 0.4 | $ 0.9 | 0.4 | $ 0.9 | $ 0.6 | 0.7 | $ 1.1 | $ 1.6 |
Collateral dependent borrowings | 0.7 | 0.7 | 0.8 | |||||
Business Assets Pledged as Collateral [Member] | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 4.4 | 4.4 | 7.4 | |||||
Business Assets Pledged as Collateral [Member] | Total real estate loans | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 1.3 | 1.3 | 1.3 | |||||
Business Assets Pledged as Collateral [Member] | Commercial | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 3.1 | 3.1 | 6.1 | |||||
Business Assets Pledged as Collateral [Member] | Agricultural | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 0 | 0 | 0 | |||||
Real Property Pledged as Collateral [Member] | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 11.3 | 11.3 | 8.6 | |||||
Real Property Pledged as Collateral [Member] | Total real estate loans | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 9.6 | 9.6 | 6.5 | |||||
Real Property Pledged as Collateral [Member] | Commercial | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 1 | 1 | 1.3 | |||||
Real Property Pledged as Collateral [Member] | Agricultural | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 0.7 | 0.7 | 0.8 | |||||
Other Property [Member] | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 0 | 0 | 1.5 | |||||
Other Property [Member] | Total real estate loans | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 0 | 0 | 1.1 | |||||
Other Property [Member] | Commercial | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | 0 | 0 | 0.4 | |||||
Other Property [Member] | Agricultural | ||||||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||||||
Collateral dependent borrowings | $ 0 | $ 0 | $ 0 |
Loans Held for Investment - S_5
Loans Held for Investment - Schedule of Contractual Aging of Loans by Portfolio (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Accrued interest reversal | $ 0 | $ 0 | |
Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1 | $ 1.6 | |
Nonaccrual Loans | 0 | 0 | |
Total Loans | 64.4 | 70.2 | |
Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3.6 | 12.8 | |
Nonaccrual Loans | 9.3 | 9.6 | |
Total Loans | 3,753.4 | 3,743.2 | |
Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 4.3 | 8.9 | |
Nonaccrual Loans | 1.7 | 1.9 | |
Total Loans | 773.7 | 805.1 | |
Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.7 | 1.2 | |
Nonaccrual Loans | 0.2 | 0.4 | |
Total Loans | 134.8 | 150.6 | |
Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.5 | 3.7 | |
Nonaccrual Loans | 0.5 | 0.7 | |
Total Loans | 261.1 | 265 | |
Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.6 | 1.9 | |
Nonaccrual Loans | 0 | 1.1 | |
Total Loans | 263.5 | 250.9 | |
Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3.8 | 12.2 | |
Nonaccrual Loans | 0 | 0.1 | |
Total Loans | 632 | 523.5 | |
Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 4.9 | 17.8 | |
Nonaccrual Loans | 0.5 | 1.9 | |
Total Loans | 1,156.6 | 1,039.4 | |
Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3.3 | 6.8 | |
Nonaccrual Loans | 3.2 | 4.6 | |
Total Loans | 1,577.7 | 1,396.3 | |
Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.1 | 2 | |
Nonaccrual Loans | 6 | 6.2 | |
Total Loans | 223.5 | 220.6 | |
Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 11.9 | 39.4 | |
Nonaccrual Loans | 19 | 22.3 | |
Total Loans | 6,711.2 | 6,399.5 | |
Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 6 | 11.7 | |
Nonaccrual Loans | 1.9 | 2.3 | |
Total Loans | 972.9 | 1,025.9 | |
Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 8 | 9.2 | |
Nonaccrual Loans | 7.3 | 11.8 | |
Total Loans | 1,959.4 | 2,153.9 | |
Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1.4 | 2.4 | |
Nonaccrual Loans | 2.2 | 3.1 | |
Total Loans | 217.7 | 247.6 | |
Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
Nonaccrual Loans | 0 | 0 | |
Total Loans | 6 | 1.6 | |
Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 27.3 | 62.7 | |
Nonaccrual Loans | 30.4 | 39.5 | |
Total Loans | 9,867.2 | 9,828.5 | |
30 to 59 Days Past Due | Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.5 | 0.6 | |
30 to 59 Days Past Due | Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2.8 | 7.6 | |
30 to 59 Days Past Due | Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3.3 | 6.4 | |
30 to 59 Days Past Due | Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.4 | 0.8 | |
30 to 59 Days Past Due | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.5 | 2.5 | |
30 to 59 Days Past Due | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.2 | 1.5 | |
30 to 59 Days Past Due | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2.1 | 12.2 | |
30 to 59 Days Past Due | Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2.8 | 16.2 | |
30 to 59 Days Past Due | Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.7 | 4.7 | |
30 to 59 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 2 | |
30 to 59 Days Past Due | Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 6.3 | 30.5 | |
30 to 59 Days Past Due | Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 4.2 | 7.8 | |
30 to 59 Days Past Due | Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3.6 | 6.2 | |
30 to 59 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.8 | 0.4 | |
30 to 59 Days Past Due | Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
30 to 59 Days Past Due | Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 14.9 | 44.9 | |
60 to 89 Days Past Due | Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.2 | 0.4 | |
60 to 89 Days Past Due | Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.4 | 1.2 | |
60 to 89 Days Past Due | Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.8 | 2 | |
60 to 89 Days Past Due | Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.1 | 0.2 | |
60 to 89 Days Past Due | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 1.1 | |
60 to 89 Days Past Due | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0.4 | |
60 to 89 Days Past Due | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1.7 | 0 | |
60 to 89 Days Past Due | Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1.7 | 1.5 | |
60 to 89 Days Past Due | Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1.4 | 1.6 | |
60 to 89 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
60 to 89 Days Past Due | Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3.5 | 4.3 | |
60 to 89 Days Past Due | Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1.1 | 2.6 | |
60 to 89 Days Past Due | Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2.3 | 1.8 | |
60 to 89 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.3 | 0.6 | |
60 to 89 Days Past Due | Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
60 to 89 Days Past Due | Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 7.2 | 9.3 | |
Equal to or Greater than 90 Days Past Due | Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.3 | 0.6 | |
Equal to or Greater than 90 Days Past Due | Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.4 | 4 | |
Equal to or Greater than 90 Days Past Due | Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.2 | 0.5 | |
Equal to or Greater than 90 Days Past Due | Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.2 | 0.2 | |
Equal to or Greater than 90 Days Past Due | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0.1 | |
Equal to or Greater than 90 Days Past Due | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.4 | 0 | |
Equal to or Greater than 90 Days Past Due | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
Equal to or Greater than 90 Days Past Due | Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.4 | 0.1 | |
Equal to or Greater than 90 Days Past Due | Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1.2 | 0.5 | |
Equal to or Greater than 90 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.1 | 0 | |
Equal to or Greater than 90 Days Past Due | Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2.1 | 4.6 | |
Equal to or Greater than 90 Days Past Due | Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.7 | 1.3 | |
Equal to or Greater than 90 Days Past Due | Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2.1 | 1.2 | |
Equal to or Greater than 90 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0.3 | 1.4 | |
Equal to or Greater than 90 Days Past Due | Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
Equal to or Greater than 90 Days Past Due | Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 5.2 | 8.5 | |
Financial Asset, Not Past Due | Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 63.4 | 68.6 | |
Financial Asset, Not Past Due | Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3,740.5 | 3,720.8 | |
Financial Asset, Not Past Due | Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 767.7 | 794.3 | |
Financial Asset, Not Past Due | Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 133.9 | 149 | |
Financial Asset, Not Past Due | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 260.1 | 260.6 | |
Financial Asset, Not Past Due | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 262.9 | 247.9 | |
Financial Asset, Not Past Due | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 628.2 | 511.2 | |
Financial Asset, Not Past Due | Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,151.2 | 1,019.7 | |
Financial Asset, Not Past Due | Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,571.2 | 1,384.9 | |
Financial Asset, Not Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 217.4 | 212.4 | |
Financial Asset, Not Past Due | Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 6,680.3 | 6,337.8 | |
Financial Asset, Not Past Due | Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 965 | 1,011.9 | |
Financial Asset, Not Past Due | Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,944.1 | 2,132.9 | |
Financial Asset, Not Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 214.1 | 242.1 | |
Financial Asset, Not Past Due | Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 6 | 1.6 | |
Financial Asset, Not Past Due | Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | $ 9,809.5 | $ 9,726.3 |
Loans Held for Investment - S_6
Loans Held for Investment - Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
Impaired financing receivable, recorded investment | $ 67,400,000 | $ 67,400,000 | |||
Commitments to purchase or sell | 0 | $ 0 | 0 | $ 0 | |
Proceeds from sale of loans held-for-investment | 0 | $ 0 | 0 | $ 0 | |
Non-owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 272,100,000 | 272,100,000 | |||
2019 | 489,200,000 | 489,200,000 | |||
2018 | 287,400,000 | 287,400,000 | |||
2017 | 166,900,000 | 166,900,000 | |||
2016 | 94,200,000 | 94,200,000 | |||
Prior | 457,000,000 | 457,000,000 | |||
Revolving Loans Amortized Cost Basis | 10,000,000 | 10,000,000 | |||
Total | 1,776,800,000 | 1,776,800,000 | |||
Commercial | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
Loans held for investment | 3,753,400,000 | 3,753,400,000 | $ 3,743,200,000 | ||
Land acquisition & development | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 59,900,000 | 59,900,000 | |||
2019 | 85,100,000 | 85,100,000 | |||
2018 | 46,400,000 | 46,400,000 | |||
2017 | 19,900,000 | 19,900,000 | |||
2016 | 23,300,000 | 23,300,000 | |||
Prior | 26,200,000 | 26,200,000 | |||
Revolving Loans Amortized Cost Basis | 300,000 | 300,000 | |||
Total | 261,100,000 | 261,100,000 | |||
Loans held for investment | 261,100,000 | 261,100,000 | 265,000,000 | ||
Residential | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 76,600,000 | 76,600,000 | |||
2019 | 36,900,000 | 36,900,000 | |||
2018 | 46,600,000 | 46,600,000 | |||
2017 | 1,000,000 | 1,000,000 | |||
2016 | 2,400,000 | 2,400,000 | |||
Prior | 100,000 | 100,000 | |||
Revolving Loans Amortized Cost Basis | 99,900,000 | 99,900,000 | |||
Total | 263,500,000 | 263,500,000 | |||
Loans held for investment | 263,500,000 | 263,500,000 | 250,900,000 | ||
Commercial | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 134,700,000 | 134,700,000 | |||
2019 | 270,100,000 | 270,100,000 | |||
2018 | 174,900,000 | 174,900,000 | |||
2017 | 27,700,000 | 27,700,000 | |||
2016 | 10,900,000 | 10,900,000 | |||
Prior | 5,800,000 | 5,800,000 | |||
Revolving Loans Amortized Cost Basis | 7,900,000 | 7,900,000 | |||
Total | 632,000,000 | 632,000,000 | |||
Loans held for investment | 632,000,000 | 632,000,000 | 523,500,000 | ||
Residential | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
Loans held for investment | 1,577,700,000 | 1,577,700,000 | 1,396,300,000 | ||
Total construction loans | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
Loans held for investment | 1,156,600,000 | 1,156,600,000 | 1,039,400,000 | ||
Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 41,400,000 | 41,400,000 | |||
2019 | 46,000,000 | 46,000,000 | |||
2018 | 47,900,000 | 47,900,000 | |||
2017 | 28,700,000 | 28,700,000 | |||
2016 | 15,400,000 | 15,400,000 | |||
Prior | 39,700,000 | 39,700,000 | |||
Revolving Loans Amortized Cost Basis | 4,400,000 | 4,400,000 | |||
Total | 223,500,000 | 223,500,000 | |||
Loans held for investment | 223,500,000 | 223,500,000 | 220,600,000 | ||
Total real estate loans | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
Loans held for investment | 6,711,200,000 | 6,711,200,000 | 6,399,500,000 | ||
Indirect consumer | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 156,000,000 | 156,000,000 | |||
2019 | 269,400,000 | 269,400,000 | |||
2018 | 144,900,000 | 144,900,000 | |||
2017 | 87,600,000 | 87,600,000 | |||
2016 | 52,400,000 | 52,400,000 | |||
Prior | 63,400,000 | 63,400,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 773,700,000 | 773,700,000 | |||
Loans held for investment | 773,700,000 | 773,700,000 | 805,100,000 | ||
Direct consumer | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 23,100,000 | 23,100,000 | |||
2019 | 36,100,000 | 36,100,000 | |||
2018 | 21,200,000 | 21,200,000 | |||
2017 | 19,700,000 | 19,700,000 | |||
2016 | 8,200,000 | 8,200,000 | |||
Prior | 10,300,000 | 10,300,000 | |||
Revolving Loans Amortized Cost Basis | 16,200,000 | 16,200,000 | |||
Total | 134,800,000 | 134,800,000 | |||
Loans held for investment | 134,800,000 | 134,800,000 | 150,600,000 | ||
Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 137.2 | 137.2 | |||
Loans held for investment | 64,400,000 | 64,400,000 | 70,200,000 | ||
Total consumer loans | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
Loans held for investment | 972,900,000 | 972,900,000 | 1,025,900,000 | ||
Commercial | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
Loans held for investment | 1,959,400,000 | 1,959,400,000 | 2,153,900,000 | ||
Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
Loans held for investment | 217,700,000 | 217,700,000 | $ 247,600,000 | ||
Owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 197,300,000 | 197,300,000 | |||
2019 | 356,700,000 | 356,700,000 | |||
2018 | 277,200,000 | 277,200,000 | |||
2017 | 192,300,000 | 192,300,000 | |||
2016 | 117,400,000 | 117,400,000 | |||
Prior | 461,500,000 | 461,500,000 | |||
Revolving Loans Amortized Cost Basis | 8,300,000 | 8,300,000 | |||
Total | 1,610,700,000 | 1,610,700,000 | |||
Multi-family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 43,700,000 | 43,700,000 | |||
2019 | 116,400,000 | 116,400,000 | |||
2018 | 51,100,000 | 51,100,000 | |||
2017 | 22,200,000 | 22,200,000 | |||
2016 | 37,800,000 | 37,800,000 | |||
Prior | 93,500,000 | 93,500,000 | |||
Revolving Loans Amortized Cost Basis | 1,200,000 | 1,200,000 | |||
Total | 365,900,000 | 365,900,000 | |||
Commercial and floor plans | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 735,400,000 | 735,400,000 | |||
2019 | 221,100,000 | 221,100,000 | |||
2018 | 125,600,000 | 125,600,000 | |||
2017 | 103,900,000 | 103,900,000 | |||
2016 | 63,500,000 | 63,500,000 | |||
Prior | 118,500,000 | 118,500,000 | |||
Revolving Loans Amortized Cost Basis | 258,900,000 | 258,900,000 | |||
Total | 1,626,900,000 | 1,626,900,000 | |||
Commercial purpose secured by 1-4 family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 35,800,000 | 35,800,000 | |||
2019 | 69,800,000 | 69,800,000 | |||
2018 | 48,200,000 | 48,200,000 | |||
2017 | 29,400,000 | 29,400,000 | |||
2016 | 18,500,000 | 18,500,000 | |||
Prior | 43,500,000 | 43,500,000 | |||
Revolving Loans Amortized Cost Basis | 16,100,000 | 16,100,000 | |||
Total | 261,300,000 | 261,300,000 | |||
Agriculture Portfolio Segment [Member] | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 34,300,000 | 34,300,000 | |||
2019 | 33,200,000 | 33,200,000 | |||
2018 | 13,600,000 | 13,600,000 | |||
2017 | 11,100,000 | 11,100,000 | |||
2016 | 4,000,000 | 4,000,000 | |||
Prior | 2,800,000 | 2,800,000 | |||
Revolving Loans Amortized Cost Basis | 117,100,000 | 117,100,000 | |||
Total | 216,100,000 | 216,100,000 | |||
Residential 1-4 family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 305,900,000 | 305,900,000 | |||
2019 | 492,500,000 | 492,500,000 | |||
2018 | 88,200,000 | 88,200,000 | |||
2017 | 39,400,000 | 39,400,000 | |||
2016 | 35,700,000 | 35,700,000 | |||
Prior | 233,700,000 | 233,700,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 1,195,400,000 | 1,195,400,000 | |||
Consumer Home Equity and HELOC | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 6,900,000 | 6,900,000 | |||
2019 | 9,200,000 | 9,200,000 | |||
2018 | 6,000,000 | 6,000,000 | |||
2017 | 5,700,000 | 5,700,000 | |||
2016 | 5,600,000 | 5,600,000 | |||
Prior | 16,000,000 | 16,000,000 | |||
Revolving Loans Amortized Cost Basis | 332,900,000 | 332,900,000 | |||
Total | 382,300,000 | 382,300,000 | |||
Pass | Non-owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 268,200,000 | 268,200,000 | |||
2019 | 471,800,000 | 471,800,000 | |||
2018 | 282,700,000 | 282,700,000 | |||
2017 | 165,200,000 | 165,200,000 | |||
2016 | 93,100,000 | 93,100,000 | |||
Prior | 426,400,000 | 426,400,000 | |||
Revolving Loans Amortized Cost Basis | 10,000,000 | 10,000,000 | |||
Total | 1,717,400,000 | 1,717,400,000 | |||
Pass | Land acquisition & development | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 58,300,000 | 58,300,000 | |||
2019 | 84,700,000 | 84,700,000 | |||
2018 | 46,400,000 | 46,400,000 | |||
2017 | 19,100,000 | 19,100,000 | |||
2016 | 23,100,000 | 23,100,000 | |||
Prior | 26,000,000 | 26,000,000 | |||
Revolving Loans Amortized Cost Basis | 200,000 | 200,000 | |||
Total | 257,800,000 | 257,800,000 | |||
Pass | Residential | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 76,400,000 | 76,400,000 | |||
2019 | 36,900,000 | 36,900,000 | |||
2018 | 46,600,000 | 46,600,000 | |||
2017 | 1,000,000 | 1,000,000 | |||
2016 | 2,400,000 | 2,400,000 | |||
Prior | 100,000 | 100,000 | |||
Revolving Loans Amortized Cost Basis | 99,900,000 | 99,900,000 | |||
Total | 263,300,000 | 263,300,000 | |||
Pass | Commercial | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 134,700,000 | 134,700,000 | |||
2019 | 270,100,000 | 270,100,000 | |||
2018 | 174,900,000 | 174,900,000 | |||
2017 | 27,700,000 | 27,700,000 | |||
2016 | 10,900,000 | 10,900,000 | |||
Prior | 5,800,000 | 5,800,000 | |||
Revolving Loans Amortized Cost Basis | 7,900,000 | 7,900,000 | |||
Total | 632,000,000 | 632,000,000 | |||
Pass | Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 38,800,000 | 38,800,000 | |||
2019 | 42,500,000 | 42,500,000 | |||
2018 | 38,800,000 | 38,800,000 | |||
2017 | 25,400,000 | 25,400,000 | |||
2016 | 13,900,000 | 13,900,000 | |||
Prior | 32,600,000 | 32,600,000 | |||
Revolving Loans Amortized Cost Basis | 3,400,000 | 3,400,000 | |||
Total | 195,400,000 | 195,400,000 | |||
Pass | Owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 194,400,000 | 194,400,000 | |||
2019 | 345,800,000 | 345,800,000 | |||
2018 | 268,100,000 | 268,100,000 | |||
2017 | 177,500,000 | 177,500,000 | |||
2016 | 111,200,000 | 111,200,000 | |||
Prior | 412,000,000 | 412,000,000 | |||
Revolving Loans Amortized Cost Basis | 8,200,000 | 8,200,000 | |||
Total | 1,517,200,000 | 1,517,200,000 | |||
Pass | Multi-family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 43,700,000 | 43,700,000 | |||
2019 | 116,400,000 | 116,400,000 | |||
2018 | 51,100,000 | 51,100,000 | |||
2017 | 22,200,000 | 22,200,000 | |||
2016 | 37,800,000 | 37,800,000 | |||
Prior | 93,500,000 | 93,500,000 | |||
Revolving Loans Amortized Cost Basis | 1,200,000 | 1,200,000 | |||
Total | 365,900,000 | 365,900,000 | |||
Pass | Commercial and floor plans | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 733,300,000 | 733,300,000 | |||
2019 | 202,500,000 | 202,500,000 | |||
2018 | 123,000,000 | 123,000,000 | |||
2017 | 99,500,000 | 99,500,000 | |||
2016 | 57,400,000 | 57,400,000 | |||
Prior | 109,700,000 | 109,700,000 | |||
Revolving Loans Amortized Cost Basis | 253,300,000 | 253,300,000 | |||
Total | 1,578,700,000 | 1,578,700,000 | |||
Pass | Commercial purpose secured by 1-4 family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 34,400,000 | 34,400,000 | |||
2019 | 68,100,000 | 68,100,000 | |||
2018 | 46,800,000 | 46,800,000 | |||
2017 | 27,400,000 | 27,400,000 | |||
2016 | 18,100,000 | 18,100,000 | |||
Prior | 40,700,000 | 40,700,000 | |||
Revolving Loans Amortized Cost Basis | 15,600,000 | 15,600,000 | |||
Total | 251,100,000 | 251,100,000 | |||
Pass | Agriculture Portfolio Segment [Member] | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 24,700,000 | 24,700,000 | |||
2019 | 31,500,000 | 31,500,000 | |||
2018 | 11,500,000 | 11,500,000 | |||
2017 | 8,300,000 | 8,300,000 | |||
2016 | 3,900,000 | 3,900,000 | |||
Prior | 2,300,000 | 2,300,000 | |||
Revolving Loans Amortized Cost Basis | 112,500,000 | 112,500,000 | |||
Total | 194,700,000 | 194,700,000 | |||
Other Assets Especially Mentioned | Non-owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0 | 0 | |||
2019 | 1,800,000 | 1,800,000 | |||
2018 | 2,300,000 | 2,300,000 | |||
2017 | 700,000 | 700,000 | |||
2016 | 0 | 0 | |||
Prior | 17,400,000 | 17,400,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 22,200,000 | 22,200,000 | |||
Other Assets Especially Mentioned | Land acquisition & development | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 1,000,000 | 1,000,000 | |||
2019 | 200,000 | 200,000 | |||
2018 | 0 | 0 | |||
2017 | 0 | 0 | |||
2016 | 100,000 | 100,000 | |||
Prior | 0 | 0 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 1,300,000 | 1,300,000 | |||
Other Assets Especially Mentioned | Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 100,000 | 100,000 | |||
2019 | 2,100,000 | 2,100,000 | |||
2018 | 6,400,000 | 6,400,000 | |||
2017 | 600,000 | 600,000 | |||
2016 | 200,000 | 200,000 | |||
Prior | 2,000,000 | 2,000,000 | |||
Revolving Loans Amortized Cost Basis | 1,000,000 | 1,000,000 | |||
Total | 12,400,000 | 12,400,000 | |||
Other Assets Especially Mentioned | Owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 1,400,000 | 1,400,000 | |||
2019 | 5,800,000 | 5,800,000 | |||
2018 | 2,400,000 | 2,400,000 | |||
2017 | 4,000,000 | 4,000,000 | |||
2016 | 3,200,000 | 3,200,000 | |||
Prior | 25,900,000 | 25,900,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 42,700,000 | 42,700,000 | |||
Other Assets Especially Mentioned | Commercial and floor plans | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 500,000 | 500,000 | |||
2019 | 14,900,000 | 14,900,000 | |||
2018 | 1,200,000 | 1,200,000 | |||
2017 | 2,400,000 | 2,400,000 | |||
2016 | 5,500,000 | 5,500,000 | |||
Prior | 3,600,000 | 3,600,000 | |||
Revolving Loans Amortized Cost Basis | 4,500,000 | 4,500,000 | |||
Total | 32,600,000 | 32,600,000 | |||
Other Assets Especially Mentioned | Commercial purpose secured by 1-4 family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0 | 0 | |||
2019 | 200,000 | 200,000 | |||
2018 | 400,000 | 400,000 | |||
2017 | 600,000 | 600,000 | |||
2016 | 100,000 | 100,000 | |||
Prior | 1,000,000 | 1,000,000 | |||
Revolving Loans Amortized Cost Basis | 400,000 | 400,000 | |||
Total | 2,700,000 | 2,700,000 | |||
Other Assets Especially Mentioned | Agriculture Portfolio Segment [Member] | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 9,000,000 | 9,000,000 | |||
2019 | 600,000 | 600,000 | |||
2018 | 500,000 | 500,000 | |||
2017 | 300,000 | 300,000 | |||
2016 | 0 | 0 | |||
Prior | 300,000 | 300,000 | |||
Revolving Loans Amortized Cost Basis | 2,400,000 | 2,400,000 | |||
Total | 13,100,000 | 13,100,000 | |||
Substandard | Non-owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 3,900,000 | 3,900,000 | |||
2019 | 15,600,000 | 15,600,000 | |||
2018 | 2,400,000 | 2,400,000 | |||
2017 | 1,000,000 | 1,000,000 | |||
2016 | 1,100,000 | 1,100,000 | |||
Prior | 13,200,000 | 13,200,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 37,200,000 | 37,200,000 | |||
Substandard | Land acquisition & development | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 600,000 | 600,000 | |||
2019 | 200,000 | 200,000 | |||
2018 | 0 | 0 | |||
2017 | 800,000 | 800,000 | |||
2016 | 100,000 | 100,000 | |||
Prior | 200,000 | 200,000 | |||
Revolving Loans Amortized Cost Basis | 100,000 | 100,000 | |||
Total | 2,000,000 | 2,000,000 | |||
Substandard | Residential | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 200,000 | 200,000 | |||
2019 | 0 | 0 | |||
2018 | 0 | 0 | |||
2017 | 0 | 0 | |||
2016 | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 200,000 | 200,000 | |||
Substandard | Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 100,000 | 100,000 | |||
2019 | 1,400,000 | 1,400,000 | |||
2018 | 2,700,000 | 2,700,000 | |||
2017 | 2,700,000 | 2,700,000 | |||
2016 | 1,300,000 | 1,300,000 | |||
Prior | 5,100,000 | 5,100,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 13,300,000 | 13,300,000 | |||
Substandard | Owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 1,500,000 | 1,500,000 | |||
2019 | 5,100,000 | 5,100,000 | |||
2018 | 6,700,000 | 6,700,000 | |||
2017 | 10,800,000 | 10,800,000 | |||
2016 | 2,900,000 | 2,900,000 | |||
Prior | 23,600,000 | 23,600,000 | |||
Revolving Loans Amortized Cost Basis | 100,000 | 100,000 | |||
Total | 50,700,000 | 50,700,000 | |||
Substandard | Commercial and floor plans | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 1,600,000 | 1,600,000 | |||
2019 | 3,700,000 | 3,700,000 | |||
2018 | 1,400,000 | 1,400,000 | |||
2017 | 2,000,000 | 2,000,000 | |||
2016 | 600,000 | 600,000 | |||
Prior | 5,200,000 | 5,200,000 | |||
Revolving Loans Amortized Cost Basis | 1,100,000 | 1,100,000 | |||
Total | 15,600,000 | 15,600,000 | |||
Substandard | Commercial purpose secured by 1-4 family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 1,400,000 | 1,400,000 | |||
2019 | 1,500,000 | 1,500,000 | |||
2018 | 1,000,000 | 1,000,000 | |||
2017 | 1,400,000 | 1,400,000 | |||
2016 | 300,000 | 300,000 | |||
Prior | 1,800,000 | 1,800,000 | |||
Revolving Loans Amortized Cost Basis | 100,000 | 100,000 | |||
Total | 7,500,000 | 7,500,000 | |||
Substandard | Agriculture Portfolio Segment [Member] | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 600,000 | 600,000 | |||
2019 | 600,000 | 600,000 | |||
2018 | 1,600,000 | 1,600,000 | |||
2017 | 2,500,000 | 2,500,000 | |||
2016 | 100,000 | 100,000 | |||
Prior | 200,000 | 200,000 | |||
Revolving Loans Amortized Cost Basis | 2,200,000 | 2,200,000 | |||
Total | 7,800,000 | 7,800,000 | |||
Doubtful | Agricultural | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 2,400,000 | 2,400,000 | |||
2019 | 0 | 0 | |||
2018 | 0 | 0 | |||
2017 | 0 | 0 | |||
2016 | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 2,400,000 | 2,400,000 | |||
Doubtful | Owner occupied | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0 | 0 | |||
2019 | 0 | 0 | |||
2018 | 0 | 0 | |||
2017 | 0 | 0 | |||
2016 | 100,000 | 100,000 | |||
Prior | 0 | 0 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 100,000 | 100,000 | |||
Doubtful | Agriculture Portfolio Segment [Member] | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0 | 0 | |||
2019 | 500,000 | 500,000 | |||
2018 | 0 | 0 | |||
2017 | 0 | 0 | |||
2016 | 0 | 0 | |||
Prior | 0 | 0 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 500,000 | 500,000 | |||
Performing | Indirect consumer | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 155,900,000 | 155,900,000 | |||
2019 | 269,000,000 | 269,000,000 | |||
2018 | 144,400,000 | 144,400,000 | |||
2017 | 87,300,000 | 87,300,000 | |||
2016 | 52,200,000 | 52,200,000 | |||
Prior | 62,900,000 | 62,900,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 771,700,000 | 771,700,000 | |||
Performing | Direct consumer | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 23,100,000 | 23,100,000 | |||
2019 | 36,100,000 | 36,100,000 | |||
2018 | 21,100,000 | 21,100,000 | |||
2017 | 19,600,000 | 19,600,000 | |||
2016 | 8,200,000 | 8,200,000 | |||
Prior | 10,200,000 | 10,200,000 | |||
Revolving Loans Amortized Cost Basis | 16,200,000 | 16,200,000 | |||
Total | 134,500,000 | 134,500,000 | |||
Performing | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 136.8 | 136.8 | |||
Performing | Residential 1-4 family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 305,900,000 | 305,900,000 | |||
2019 | 492,200,000 | 492,200,000 | |||
2018 | 87,800,000 | 87,800,000 | |||
2017 | 39,400,000 | 39,400,000 | |||
2016 | 35,500,000 | 35,500,000 | |||
Prior | 232,300,000 | 232,300,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 1,193,100,000 | 1,193,100,000 | |||
Performing | Consumer Home Equity and HELOC | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 6,900,000 | 6,900,000 | |||
2019 | 9,200,000 | 9,200,000 | |||
2018 | 5,700,000 | 5,700,000 | |||
2017 | 5,600,000 | 5,600,000 | |||
2016 | 4,900,000 | 4,900,000 | |||
Prior | 15,100,000 | 15,100,000 | |||
Revolving Loans Amortized Cost Basis | 332,800,000 | 332,800,000 | |||
Total | 380,200,000 | 380,200,000 | |||
Nonperforming | Indirect consumer | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 100,000 | 100,000 | |||
2019 | 400,000 | 400,000 | |||
2018 | 500,000 | 500,000 | |||
2017 | 300,000 | 300,000 | |||
2016 | 200,000 | 200,000 | |||
Prior | 500,000 | 500,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 2,000,000 | 2,000,000 | |||
Nonperforming | Direct consumer | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0 | 0 | |||
2019 | 0 | 0 | |||
2018 | 100,000 | 100,000 | |||
2017 | 100,000 | 100,000 | |||
2016 | 0 | 0 | |||
Prior | 100,000 | 100,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 300,000 | 300,000 | |||
Nonperforming | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0.4 | 0.4 | |||
Nonperforming | Residential 1-4 family | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0 | 0 | |||
2019 | 300,000 | 300,000 | |||
2018 | 400,000 | 400,000 | |||
2017 | 0 | 0 | |||
2016 | 200,000 | 200,000 | |||
Prior | 1,400,000 | 1,400,000 | |||
Revolving Loans Amortized Cost Basis | 0 | 0 | |||
Total | 2,300,000 | 2,300,000 | |||
Nonperforming | Consumer Home Equity and HELOC | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0 | 0 | |||
2019 | 0 | 0 | |||
2018 | 300,000 | 300,000 | |||
2017 | 100,000 | 100,000 | |||
2016 | 700,000 | 700,000 | |||
Prior | 900,000 | 900,000 | |||
Revolving Loans Amortized Cost Basis | 100,000 | 100,000 | |||
Total | 2,100,000 | 2,100,000 | |||
Agriculture Portfolio Segment [Member] | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 1.6 | 1.6 | |||
Agriculture Portfolio Segment [Member] | Performing | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 1.6 | 1.6 | |||
Agriculture Portfolio Segment [Member] | Nonperforming | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0 | 0 | |||
Commercial | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 71.2 | 71.2 | |||
Commercial | Performing | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 71.1 | 71.1 | |||
Commercial | Nonperforming | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 0.1 | 0.1 | |||
Total consumer loans | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 64.4 | 64.4 | |||
Total consumer loans | Performing | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | 64.1 | 64.1 | |||
Total consumer loans | Nonperforming | Credit card | |||||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||||
2020 | $ 0.3 | $ 0.3 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Real Estate Acquired Through Foreclosure [Roll Forward] | |||||
Beginning balance | $ 2.2 | $ 8.2 | $ 2.5 | $ 8.5 | |
Additions | 0 | 0.3 | 0.3 | 1.2 | |
Valuation adjustments | 0 | 0 | |||
Dispositions | (0.2) | (2) | (0.8) | (3.2) | |
Ending balance | 2 | $ 6.5 | 2 | $ 6.5 | |
Carrying values of foreclosed residential real estate properties | 0 | 0 | $ 0 | ||
Consumer mortgage loans collateralized by residential real estate property in the process of foreclosure | $ 0.2 | $ 0.2 | $ 0.2 |
Derivatives and Hedging Activit
Derivatives and Hedging Activities - Schedule of Notional Amounts of Outstanding Derivative Positions (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | $ 963.6 | $ 901.6 |
Derivative Asset, Estimated Fair Value | 45.1 | 55.3 |
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets): | ||
Derivative Liabilities, Notional Amount | 1,564.1 | 1,014.1 |
Derivative Liabilities, Estimated Fair Value | 43.3 | 53.3 |
Interest rate swap contracts | ||
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | 587.6 | 87.6 |
Derivative Asset, Estimated Fair Value | 1 | 0.2 |
Not Designated as Hedging Instrument | Interest rate swap contracts | ||
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | 849.7 | 799.7 |
Derivative Asset, Estimated Fair Value | 42.1 | 52 |
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets): | ||
Derivative Liabilities, Notional Amount | 849.7 | 799.7 |
Derivative Liabilities, Estimated Fair Value | 42.1 | 52 |
Not Designated as Hedging Instrument | Interest rate lock commitments | ||
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | 113.9 | 101.9 |
Derivative Asset, Estimated Fair Value | 3 | 3.3 |
Not Designated as Hedging Instrument | Forward loan sales contracts | ||
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets): | ||
Derivative Liabilities, Notional Amount | 126.8 | 126.8 |
Derivative Liabilities, Estimated Fair Value | $ 0.2 | $ 1.1 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities - Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 17, 2021 | Dec. 31, 2020 | |
Financial Assets | ||||||
Gross Amounts Recognized | $ 36.7 | $ 36.7 | $ 55.3 | |||
Gross Amounts Offset in the Balance Sheet | 0 | 0 | 0 | |||
Net Amounts in the Balance Sheet | 36.7 | 36.7 | 55.3 | |||
Financial Instruments | 0 | 0 | 0 | |||
Fair Value of Financial Collateral in the Balance Sheet | 12 | 12 | 17.2 | |||
Net Amount | 24.7 | 24.7 | 38.1 | |||
Derivative Assets (Liabilities), at Fair Value, Net | 36.7 | 36.7 | ||||
Financial Liabilities | ||||||
Gross Amounts Recognized | 19.1 | 19.1 | 17.9 | |||
Gross Amounts Offset in the Balance Sheet | 0 | 0 | 0 | |||
Net Amounts in the Balance Sheet | 19.1 | 19.1 | 17.9 | |||
Financial Instruments | 0 | 0 | 0 | |||
Fair Value of Financial Collateral in the Balance Sheet | 0 | 0 | 0 | |||
Net Amount | 19.1 | 19.1 | 17.9 | |||
Repurchase agreements | ||||||
Gross Amounts Recognized | 1,038.7 | 1,038.7 | 1,091.4 | |||
Gross Amounts Offset in the Balance Sheet | 0 | |||||
Net Amounts in the Balance Sheet | 1,038.7 | 1,038.7 | 1,091.4 | |||
Financial Instruments | 0 | 0 | 0 | |||
Fair Value of Financial Collateral in the Balance Sheet | 1,038.7 | 1,038.7 | 1,091.4 | |||
Net Amount | 0 | 0 | 0 | |||
Total assets and liabilities | ||||||
Gross Amounts Recognized | 1,057.8 | 1,057.8 | 1,109.3 | |||
Gross Amounts Offset in the Balance Sheet | 0 | |||||
Net Amounts in the Balance Sheet | 1,057.8 | 1,057.8 | 1,109.3 | |||
Financial Instruments | 0 | 0 | 0 | |||
Fair Value of Financial Collateral in the Balance Sheet | 1,038.7 | 1,038.7 | 1,091.4 | |||
Net Amount | $ 19.1 | 19.1 | 17.9 | |||
Payments for (Proceeds from) Derivative Instrument, Investing Activities | 500 | |||||
Derivatives, Basis and Use of Derivatives | 87 | |||||
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | $ 0 | 0 | 0 | |||
Derivative Asset, Collateral, Obligation to Return Cash, Offset | 0 | 0 | 0 | |||
Derivative Liability, Notional Amount | 1,564.1 | 1,564.1 | 1,014.1 | |||
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value | 24.2 | 24.2 | 35.4 | |||
Interest Rate Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value | 8.4 | 8.4 | 0 | |||
Interest Rate Swap [Member] | ||||||
Total assets and liabilities | ||||||
Derivative, Notional Amount | $ 500 | |||||
Not Designated as Hedging Instrument | ||||||
Total assets and liabilities | ||||||
Amount of net gains recognized in mortgage banking revenues | 0.2 | $ 0.5 | 0.5 | $ 5 | ||
Interest Rate Swap [Member] | ||||||
Financial Assets | ||||||
Gross Amounts Recognized | 33.7 | 33.7 | 52 | |||
Gross Amounts Offset in the Balance Sheet | 0 | 0 | 0 | |||
Net Amounts in the Balance Sheet | 33.7 | 33.7 | 52 | |||
Financial Instruments | 0 | 0 | 0 | |||
Fair Value of Financial Collateral in the Balance Sheet | 12 | 12 | 17.2 | |||
Net Amount | 21.7 | 21.7 | 34.8 | |||
Financial Liabilities | ||||||
Gross Amounts Recognized | 18.9 | 18.9 | 16.8 | |||
Gross Amounts Offset in the Balance Sheet | 0 | 0 | 0 | |||
Net Amounts in the Balance Sheet | 18.9 | 18.9 | 16.8 | |||
Financial Instruments | 0 | 0 | 0 | |||
Fair Value of Financial Collateral in the Balance Sheet | 0 | 0 | 0 | |||
Net Amount | 18.9 | 18.9 | 16.8 | |||
Interest Rate Swap [Member] | Not Designated as Hedging Instrument | ||||||
Total assets and liabilities | ||||||
Derivative Liability, Notional Amount | 849.7 | 849.7 | 799.7 | |||
Mortgage Related Derivatives | ||||||
Financial Assets | ||||||
Gross Amounts Recognized | 3 | 3 | 3.3 | |||
Gross Amounts Offset in the Balance Sheet | 0 | 0 | 0 | |||
Net Amounts in the Balance Sheet | 3 | 3 | 3.3 | |||
Financial Instruments | 0 | 0 | 0 | |||
Fair Value of Financial Collateral in the Balance Sheet | 0 | 0 | 0 | |||
Net Amount | 3 | 3 | 3.3 | |||
Financial Liabilities | ||||||
Gross Amounts Recognized | 0.2 | 0.2 | 1.1 | |||
Gross Amounts Offset in the Balance Sheet | 0 | 0 | 0 | |||
Net Amounts in the Balance Sheet | 0.2 | 0.2 | 1.1 | |||
Financial Instruments | 0 | 0 | 0 | |||
Fair Value of Financial Collateral in the Balance Sheet | 0 | 0 | 0 | |||
Net Amount | 0.2 | 0.2 | $ 1.1 | |||
Repurchase Agreements | ||||||
Financial Liabilities | ||||||
Gross Amounts Offset in the Balance Sheet | $ 0 | $ 0 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities - Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 17, 2021 | Dec. 31, 2020 | |
Derivative [Line Items] | ||||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | $ (0.8) | $ 0.2 | $ (0.9) | $ 0.2 | ||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 0.1 | 0.1 | ||||
Derivative Instruments and Hedges, Assets | 500.8 | 500.8 | $ 0 | |||
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 0.8 | 0.8 | 0 | |||
Derivative, Fair Value, Net | 11.8 | 11.8 | ||||
Financial Instruments | 0 | 0 | 0 | |||
Collateral Pledged | ||||||
Derivative [Line Items] | ||||||
Financial Instruments | 0.2 | 0.2 | ||||
Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Derivative, Fixed Interest Rate | 1.19% | |||||
Derivative, Notional Amount | $ 500 | |||||
Not Designated as Hedging Instrument | ||||||
Derivative [Line Items] | ||||||
Amount of net fee income recognized in other non-interest income | 0.1 | 1.7 | 1.2 | 2.7 | ||
Amount of net gains recognized in mortgage banking revenues | 0.2 | 0.5 | 0.5 | 5 | ||
Interest Rate Swap [Member] | ||||||
Derivative [Line Items] | ||||||
Financial Instruments | 0 | 0 | $ 0 | |||
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative [Line Items] | ||||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Capital Stock (Details)
Capital Stock (Details) - USD ($) $ / shares in Units, $ in Millions | Sep. 12, 2020 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Jun. 11, 2019 |
Class of Stock [Line Items] | ||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 5,500,000 | |||||||
Incremental Common Shares Attributable to Dilutive Effect of Accelerated Share Repurchase Agreements | 3,000,000 | |||||||
Stock repurchased and retired (in shares) | 284 | 482 | 127,464 | 1,093,741 | ||||
Accelerated Share Repurchases, Adjustment to Recorded Amount | $ 2.9 | |||||||
Shares repurchased, average cost per share (in dollars per share) | $ 39.69 | |||||||
Shares repurchased during the period as percentage of shares authorized for repurchase (percent) | 1.30% | |||||||
Common shares issued (in shares) | 18,477 | 19,200 | 19,081 | 19,491 | ||||
Class A Common Stock | ||||||||
Class of Stock [Line Items] | ||||||||
Shares outstanding (in shares) | 41,720,638 | 41,720,638 | 40,335,113 | |||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 2,500,000 | |||||||
Stock repurchased and retired (in shares) | 0 | 72,700 | ||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 1,900,000 | 1,900,000 | ||||||
Class B Common Stock | ||||||||
Class of Stock [Line Items] | ||||||||
Shares outstanding (in shares) | 20,519,593 | 20,519,593 | 21,760,686 | |||||
Director [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Common shares issued (in shares) | 19,081 | |||||||
Director [Member] | Class A Common Stock | ||||||||
Class of Stock [Line Items] | ||||||||
Dividend, Share-based Payment Arrangement, Paid-in-Kind | $ 0.9 |
Earnings per Common Share (Deta
Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Earnings Per Share, Basic and Diluted [Line Items] | ||||
Net income | $ 42.5 | $ 36.7 | $ 93.9 | $ 66 |
Weighted average common shares outstanding for basic earnings per share computation (in shares) | 61,657,593 | 64,004,455 | 61,624,917 | 64,397,320 |
Dilutive effects of stock-based compensation (in shares) | 70,228 | 78,034 | 98,225 | 116,566 |
Weighted average common shares outstanding for diluted earnings per common share computation (in shares) | 61,727,821 | 64,082,489 | 61,723,142 | 64,513,886 |
Basic earnings per common share (in dollars per share) | $ 0.69 | $ 0.57 | $ 1.52 | $ 1.02 |
Diluted earnings per common share (in dollars per share) | $ 0.69 | $ 0.57 | $ 1.52 | $ 1.02 |
Restricted Stock | ||||
Earnings Per Share, Basic and Diluted [Line Items] | ||||
Anti-dilutive unvested time restricted stock (in shares) | 84,165 | 108,369 | 90,538 | 108,369 |
Unvested restricted stock | ||||
Earnings Per Share, Basic and Diluted [Line Items] | ||||
Anti-dilutive unvested time restricted stock (in shares) | 363,960 | 296,188 |
Regulatory Capital (Details)
Regulatory Capital (Details) $ in Millions | Jan. 01, 2020USD ($) | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Retained Earnings (Accumulated Deficit) | $ 1,005.2 | $ 962.1 | |
Total risk-based capital: | |||
Actual, Amount | $ 1,615.5 | $ 1,575.7 | |
Actual, Ratio | 0.1389 | 0.1419 | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 930.3 | $ 888.3 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 0.0800 | 0.0800 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 1,221 | $ 1,165.8 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 10.50% | 10.50% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 1,162.8 | $ 1,110.3 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.1000 | 0.1000 | |
Tier 1 risk-based capital: | |||
Actual, Amount | $ 1,415.6 | $ 1,369 | |
Actual, Ratio | 0.1217 | 0.1233 | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 697.7 | $ 666.2 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 0.0600 | 0.0600 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 988.4 | $ 943.8 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 8.50% | 8.50% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 930.3 | $ 888.3 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.0800 | 0.0800 | |
Common equity tier 1 risk-based capital: | |||
Actual, Amount | $ 1,331.5 | $ 1,284.9 | |
Actual, Ratio | 11.45% | 11.57% | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 523.3 | $ 499.6 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 4.50% | 4.50% | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 814 | $ 777.2 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 7.00% | 7.00% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 755.8 | $ 721.7 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 6.50% | 6.50% | |
Leverage capital ratio: | |||
Actual, Amount | $ 1,415.6 | $ 1,369 | |
Actual, Ratio | 0.0784 | 0.0816 | |
Banking Regulation, Tier One Leverage Capital, Capital Adequacy, Minimum | $ 722 | $ 671 | |
Capital Adequacy Purposes and Conservation Buffer, Ratio | 0.0400 | 0.0400 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 902.5 | $ 838.7 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.0500 | 0.0500 | |
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle | $ 24.1 | ||
FIB | |||
Total risk-based capital: | |||
Actual, Amount | $ 1,445.4 | $ 1,426.8 | |
Actual, Ratio | 0.1247 | 0.1289 | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 927.5 | $ 885.6 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 0.0800 | 0.0800 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 1,217.4 | $ 1,162.3 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 10.50% | 10.50% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 1,159.4 | $ 1,107 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.1000 | 0.1000 | |
Tier 1 risk-based capital: | |||
Actual, Amount | $ 1,345.5 | $ 1,320.1 | |
Actual, Ratio | 0.1160 | 0.1193 | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 695.7 | $ 664.2 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 0.0600 | 0.0600 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 985.5 | $ 940.9 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 8.50% | 8.50% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 927.5 | $ 885.6 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.0800 | 0.0800 | |
Common equity tier 1 risk-based capital: | |||
Actual, Amount | $ 1,345.5 | $ 1,320.1 | |
Actual, Ratio | 11.60% | 11.93% | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 521.7 | $ 498.1 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 4.50% | 4.50% | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 811.6 | $ 774.9 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 7.00% | 7.00% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 753.6 | $ 719.5 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 6.50% | 6.50% | |
Leverage capital ratio: | |||
Actual, Amount | $ 1,345.5 | $ 1,320.1 | |
Actual, Ratio | 0.0747 | 0.0788 | |
Banking Regulation, Tier One Leverage Capital, Capital Adequacy, Minimum | $ 720.2 | $ 669.7 | |
Capital Adequacy Purposes and Conservation Buffer, Ratio | 0.0400 | 0.0400 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 900.3 | $ 837.2 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.0500 | 0.0500 |
Commitments and Contingencies (
Commitments and Contingencies (Details) $ in Millions | Jun. 30, 2021USD ($) |
Mortgage Loans Held For Sale [Member] | |
Loss Contingencies [Line Items] | |
Mortgage loans with recourse provision in effect | $ 0.5 |
Construction Contracts | |
Loss Contingencies [Line Items] | |
Commitments under construction contracts | $ 5.3 |
Financial Instruments with Of_2
Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Entity Information [Line Items] | ||||||||
Off-Balance Sheet, Credit Loss, Liability | $ 3.4 | $ 2.3 | $ 3.4 | $ 2.3 | $ 3.4 | $ 3.7 | $ 2.1 | $ 0 |
Provision for (reversal of) credit loss expense | 0 | (19.3) | (48.5) | |||||
Credit Extension Commitments | 2,522.4 | 2,522.4 | 2,280 | |||||
Unused Credit Card Lines | ||||||||
Entity Information [Line Items] | ||||||||
Credit Extension Commitments | 681.8 | 681.8 | 682.8 | |||||
Standby Letter of Credit | ||||||||
Entity Information [Line Items] | ||||||||
Credit Extension Commitments | 59.3 | 59.3 | 59 | |||||
Cumulative effect, period of adoption, adjusted balance | ||||||||
Entity Information [Line Items] | ||||||||
Off-Balance Sheet, Credit Loss, Liability | 2.3 | 2.3 | $ 0 | $ 0 | ||||
Provision for (reversal of) credit loss expense | $ 0 | $ 0.2 | $ (0.3) | $ 0 |
Other Comprehensive Income_Lo_3
Other Comprehensive Income/Loss - Schedule of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Investment securities available-for sale: | ||||
Change in net unrealized gain during period, pre-tax | $ (0.8) | $ 34.9 | $ (67.6) | $ 74.1 |
Change in net unrealized gain during period, tax expense (benefit) | (0.2) | 9.5 | (17.2) | 19.8 |
Change in net unrealized gain during period, net of tax | (0.6) | 25.4 | (50.4) | 54.3 |
Reclassification adjustment for net gains included in income, pre-tax | 0.1 | 0 | 0.1 | 0 |
Reclassification adjustment for net gains included in income, tax expense (benefit) | 0 | 0 | 0 | 0 |
Reclassification adjustment for net gains included in income, net of tax | 0.1 | 0 | 0.1 | 0 |
Amortization of unrealized gains on available-for-sale securities transferred into held-to-maturity, pre-tax | 24.8 | 0 | 24.8 | 0 |
Amortization of unrealized gains on available-for-sale securities transferred into held-to-maturity, tax expense (benefit) | 6.3 | 0 | 6.3 | 0 |
Amortization of unrealized gains on available-for-sale securities transferred into held-to-maturity, net of tax | 18.5 | 0 | 18.5 | 0 |
Unrealized gain (loss) on derivatives, pre-tax | (0.8) | 0.2 | (0.9) | 0.2 |
Unrealized gain (loss) on derivatives, tax expense (benefit) | (0.2) | 0 | (0.2) | 0 |
Unrealized gain (loss) on derivatives, net of tax | (0.6) | 0.2 | (0.7) | 0.2 |
Defined benefits post-retirement benefit plan: | ||||
Change in net actuarial (gain) loss, pre-tax | 0 | (0.2) | 0 | (0.4) |
Change in net actuarial (gain) loss, tax expense (benefit) | 0 | 0 | (0.1) | |
Change in net actuarial (gain) loss, net of tax | 0 | (0.2) | 0 | (0.3) |
Other comprehensive income (loss), before tax | 23.3 | 34.9 | (43.6) | 73.9 |
Other Comprehensive Income (Loss), tax expense (benefit) | 5.9 | 9.5 | (11.1) | 19.7 |
Other Comprehensive Income (Loss), Net of Tax | $ 17.4 | $ 25.4 | $ (32.5) | $ 54.2 |
Other Comprehensive Income_Lo_4
Other Comprehensive Income/Loss - Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 6 Months Ended | |||||
Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Total stockholders’ equity | $ 1,970.9 | $ 1,998.9 | $ 1,933.4 | $ 1,959.8 | $ 1,956.1 | $ 2,013.9 |
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment, after Tax | 0 | |||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (0.2) | |||||
Net unrealized gains on investment securities available-for-sale | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Total stockholders’ equity | 6.3 | 56.8 | ||||
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment, after Tax | 18.5 | |||||
Net unrealized loss on derivatives | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (0.7) | |||||
Net accumulated other comprehensive gains | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Total stockholders’ equity | $ 24.1 | $ 65.2 | $ 6.7 | $ 56.6 | $ 39.8 | $ 11 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring and Non-Recurring Basis (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | $ 0 | $ 0 | $ 0 | $ 0 | |
Investment debt securities available-for-sale | 3,957.8 | 3,957.8 | $ 4,008.7 | ||
Derivative assets | 36.7 | 36.7 | 55.3 | ||
Derivative liabilities | 19.1 | 19.1 | 17.9 | ||
Write downs | 0 | $ 0 | |||
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] | |||||
Loans held for sale | 0 | 0 | 0 | ||
Deferred compensation plan assets | 0 | 0 | 0 | ||
Deferred compensation plan liabilities | 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] | |||||
Loans held for sale | 48.8 | 48.8 | 74 | ||
Deferred compensation plan assets | 20.8 | 20.8 | 19.1 | ||
Deferred compensation plan liabilities | 20.8 | 20.8 | 19.1 | ||
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] | |||||
Loans held for sale | 0 | 0 | 0 | ||
Deferred compensation plan assets | 0 | 0 | 0 | ||
Deferred compensation plan liabilities | 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] | |||||
Related Allowance | 0.7 | 0.7 | 2.8 | ||
Partial loan charge-offs | 2.2 | 2.2 | |||
U.S. Treasury notes | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 496.9 | 496.9 | |||
U.S. Treasury notes | 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 debt securities available-for-sale | 0 | 0 | |||
U.S. Treasury notes | 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 debt securities available-for-sale | 496.9 | 496.9 | |||
U.S. Treasury notes | 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 debt securities available-for-sale | 0 | 0 | |||
State, county and municipal securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 444.5 | 444.5 | 465.9 | ||
State, county and municipal 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 debt securities available-for-sale | 0 | 0 | 0 | ||
State, county and municipal 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 debt securities available-for-sale | 444.5 | 444.5 | 465.9 | ||
State, county and municipal 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 debt securities available-for-sale | 0 | 0 | 0 | ||
Obligations of U.S. government agencies | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 326.9 | 326.9 | 331.9 | ||
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 debt 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 debt securities available-for-sale | 326.9 | 326.9 | 331.9 | ||
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 debt securities available-for-sale | 0 | 0 | 0 | ||
U.S. agency residential mortgage-backed securities & collateralized mortgage obligations | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 2,082.2 | 2,082.2 | 2,897.6 | ||
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 debt 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 debt securities available-for-sale | 2,082.2 | 2,082.2 | 2,897.6 | ||
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 debt securities available-for-sale | 0 | 0 | 0 | ||
Private mortgage-backed securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 17 | 17 | 10.9 | ||
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 debt 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 debt securities available-for-sale | 17 | 17 | 10.9 | ||
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 debt securities available-for-sale | 0 | 0 | 0 | ||
Corporate securities | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 403 | 403 | 302.2 | ||
Corporate 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 debt securities available-for-sale | 0 | 0 | 0 | ||
Corporate 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 debt securities available-for-sale | 403 | 403 | 302.2 | ||
Corporate 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 debt securities available-for-sale | 0 | 0 | 0 | ||
Other investments | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 0.2 | ||||
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 debt securities available-for-sale | 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 debt securities available-for-sale | 0.2 | ||||
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 debt securities available-for-sale | 0 | ||||
Collateral dependent loans | 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] | |||||
Collateral dependent loans | 0 | 0 | 0 | ||
Collateral dependent loans | 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] | |||||
Collateral dependent loans | 0 | 0 | 0 | ||
Collateral dependent loans | 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] | |||||
Collateral dependent loans | 14.7 | ||||
Collateralized Loan Obligations | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 187.3 | 187.3 | |||
Collateralized Loan 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 debt securities available-for-sale | 0 | 0 | |||
Collateralized Loan 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 debt securities available-for-sale | 187.3 | 187.3 | |||
Collateralized Loan 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 debt securities available-for-sale | 0 | 0 | |||
Estimated Fair Value | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 3,957.8 | 3,957.8 | 4,008.7 | ||
Derivative assets | 45.1 | 45.1 | 55.3 | ||
Derivative liabilities | 43.3 | 43.3 | 53.3 | ||
Deferred compensation plan assets | 20.8 | 20.8 | 19.1 | ||
Deferred compensation plan liabilities | 20.8 | 20.8 | 19.1 | ||
Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Loans held for sale | 48.8 | 48.8 | 74 | ||
Deferred compensation plan assets | 20.8 | 20.8 | 19.1 | ||
Deferred compensation plan liabilities | 20.8 | 20.8 | 19.1 | ||
Estimated Fair Value | 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 | 5.3 | ||||
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 debt securities available-for-sale | 0 | 0 | 0 | ||
Derivative assets | 0 | 0 | 0 | ||
Derivative liabilities | 0 | 0 | 0 | ||
Deferred compensation plan assets | 0 | 0 | 0 | ||
Deferred compensation plan liabilities | 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 debt securities available-for-sale | 3,957.8 | 3,957.8 | 4,008.7 | ||
Derivative assets | 45.1 | 45.1 | 55.3 | ||
Derivative liabilities | 43.3 | 43.3 | 53.3 | ||
Deferred compensation plan assets | 20.8 | 20.8 | 19.1 | ||
Deferred compensation plan liabilities | 20.8 | 20.8 | 19.1 | ||
Estimated Fair Value | Significant Unobservable Inputs (Level 3) | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 0 | 0 | 0 | ||
Derivative assets | 0 | 0 | 0 | ||
Derivative liabilities | 0 | 0 | 0 | ||
Deferred compensation plan assets | 0 | 0 | 0 | ||
Deferred compensation plan liabilities | 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] | |||||
Collateral dependent loans | 12.8 | 12.8 | 14.7 | ||
Estimated Fair Value | U.S. Treasury notes | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 496.9 | 496.9 | |||
Estimated Fair Value | State, county and municipal securities | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 444.5 | 444.5 | 465.9 | ||
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 debt securities available-for-sale | 326.9 | 326.9 | 331.9 | ||
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 debt securities available-for-sale | 2,082.2 | 2,082.2 | 2,897.6 | ||
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 debt securities available-for-sale | 17 | 17 | 10.9 | ||
Estimated Fair Value | Corporate securities | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 403 | 403 | 302.2 | ||
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 debt securities available-for-sale | 0.2 | ||||
Estimated Fair Value | Collateral dependent loans | 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] | |||||
Collateral dependent loans | 12.8 | 12.8 | 14.7 | ||
Estimated Fair Value | Collateralized Loan Obligations | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 187.3 | 187.3 | |||
Carrying Amount | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Investment debt securities available-for-sale | 3,957.8 | 3,957.8 | 4,008.7 | ||
Derivative assets | 45.1 | 45.1 | 55.3 | ||
Derivative liabilities | 43.3 | 43.3 | 53.3 | ||
Deferred compensation plan assets | 20.8 | 20.8 | 19.1 | ||
Deferred compensation plan liabilities | 20.8 | 20.8 | 19.1 | ||
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] | |||||
Collateral dependent loans | 15.7 | 15.7 | 17.5 | ||
Long-lived assets to be disposed of by sale | 7.3 | 7.3 | 5.5 | ||
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 | 0.2 | ||||
Interest Rate Swap [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 33.7 | 33.7 | 52 | ||
Derivative liabilities | 18.9 | 18.9 | 16.8 | ||
Interest Rate Swap [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 assets | 0 | 0 | 0 | ||
Derivative liabilities | 0 | 0 | 0 | ||
Interest Rate Swap [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 assets | 42.1 | 42.1 | 52 | ||
Derivative liabilities | 43.1 | 43.1 | 52.2 | ||
Interest Rate Swap [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 assets | 0 | 0 | 0 | ||
Derivative liabilities | 0 | 0 | 0 | ||
Interest Rate Swap [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 assets | 42.1 | 42.1 | 52 | ||
Derivative liabilities | 43.1 | 43.1 | 52.2 | ||
Interest Rate Lock Commitments | 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 assets | 0 | 0 | 0 | ||
Interest Rate Lock Commitments | 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 assets | 3 | 3 | 3.3 | ||
Interest Rate Lock Commitments | 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 assets | 0 | 0 | 0 | ||
Interest Rate Lock Commitments | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative assets | 3 | 3 | 3.3 | ||
Forward Contracts | 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 liabilities | 0 | 0 | 0 | ||
Forward Contracts | 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 liabilities | 0.2 | 0.2 | 1.1 | ||
Forward Contracts | 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 liabilities | 0 | 0 | 0 | ||
Forward Contracts | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Derivative liabilities | 0.2 | 0.2 | 1.1 | ||
Long-lived assets to be disposed of by sale | 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] | |||||
Long-lived assets to be disposed of by sale | 0 | 0 | 0 | ||
Long-lived assets to be disposed of by sale | 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] | |||||
Long-lived assets to be disposed of by sale | 0 | 0 | 0 | ||
Long-lived assets to be disposed of by sale | 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] | |||||
Long-lived assets to be disposed of by sale | 7.3 | 7.3 | 5.3 | ||
Long-lived assets to be disposed of by sale | 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] | |||||
Long-lived assets to be disposed of by sale | $ 7.3 | $ 7.3 | $ 5.3 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Inputs, Quantitative Information (Details) $ in Millions | 6 Months Ended | ||
Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Material write downs | $ 0 | $ 0 | |
Significant Unobservable Inputs (Level 3) | Carrying Amount | Fair Value Measured on a Non-recurring Basis | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Collateral dependent loans | 15.7 | $ 17.5 | |
Significant Unobservable Inputs (Level 3) | Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Collateral dependent loans | 12.8 | 14.7 | |
Collateral dependent loans | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Collateral dependent loans | 14.7 | ||
Collateral dependent loans | Significant Unobservable Inputs (Level 3) | Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Collateral dependent loans | $ 12.8 | 14.7 | |
Collateral dependent loans | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Minimum | Market Approach Valuation Technique | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Discount rate | 0 | ||
Collateral dependent loans | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Maximum | Market Approach Valuation Technique | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Discount rate | 0.18 | ||
Collateral dependent loans | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Weighted Average | Market Approach Valuation Technique | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Discount rate | (0.09) | ||
Long-lived assets to be disposed of by sale | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Long-lived assets to be disposed of by sale | $ 7.3 | 5.3 | |
Long-lived assets to be disposed of by sale | Significant Unobservable Inputs (Level 3) | Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Long-lived assets to be disposed of by sale | $ 7.3 | $ 5.3 | |
Long-lived assets to be disposed of by sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Minimum | Market Approach Valuation Technique | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Discount rate | 0 | ||
Long-lived assets to be disposed of by sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Maximum | Market Approach Valuation Technique | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Discount rate | 0 | ||
Long-lived assets to be disposed of by sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Weighted Average | Market Approach Valuation Technique | |||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | |||
Discount rate | 0 |
Fair Value Measurements - Sch_2
Fair Value Measurements - Schedule of Estimated Fair Values of Financial Instruments by Level of Valuation Inputs (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Dec. 31, 2020 |
Financial assets: | ||
Investment debt securities available-for-sale | $ 3,957.8 | $ 4,008.7 |
Investment debt securities held-to-maturity | 1,701.9 | 55 |
Derivative assets | 36.7 | 55.3 |
Financial liabilities: | ||
Derivative liabilities | 19.1 | 17.9 |
Carrying Amount | ||
Financial assets: | ||
Cash and cash equivalents | 1,948.4 | 2,276.8 |
Investment debt securities available-for-sale | 3,957.8 | 4,008.7 |
Investment debt securities held-to-maturity | 1,685.5 | 51.6 |
Accrued interest receivable | 50.9 | 51.1 |
Mortgage servicing rights, net | 27.4 | 24 |
Loans held for sale | 48.8 | 74 |
Net loans held for investment | 9,699.2 | 9,663.2 |
Derivative assets | 45.1 | 55.3 |
Deferred compensation plan assets | 20.8 | 19.1 |
Total financial assets | 17,483.9 | 16,223.8 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 14,554.2 | 13,158.3 |
Time deposits | 1,011.5 | 1,058.7 |
Securities sold under repurchase agreements | 1,038.7 | 1,091.4 |
Accrued interest payable | 5 | 5.8 |
Long-term debt | 112.4 | 112.4 |
Subordinated debentures held by subsidiary trusts | 87 | 87 |
Derivative liabilities | 43.3 | 53.3 |
Deferred compensation plan liabilities | 20.8 | 19.1 |
Total financial liabilities | 16,872.9 | 15,586 |
Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 1,948.4 | 2,276.8 |
Investment debt securities available-for-sale | 3,957.8 | 4,008.7 |
Investment debt securities held-to-maturity | 1,701.9 | 55 |
Accrued interest receivable | 50.9 | 51.1 |
Mortgage servicing rights, net | 27.4 | 24 |
Loans held for sale | 48.8 | 74 |
Net loans held for investment | 9,749 | 9,785.6 |
Derivative assets | 45.1 | 55.3 |
Deferred compensation plan assets | 20.8 | 19.1 |
Total financial assets | 17,550.1 | 16,349.6 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 14,554.2 | 13,158.3 |
Time deposits | 1,011.7 | 1,061.1 |
Securities sold under repurchase agreements | 1,038.7 | 1,091.4 |
Accrued interest payable | 5 | 5.8 |
Long-term debt | 121.1 | 116.5 |
Subordinated debentures held by subsidiary trusts | 83 | 81.3 |
Derivative liabilities | 43.3 | 53.3 |
Deferred compensation plan liabilities | 20.8 | 19.1 |
Total financial liabilities | 16,877.8 | 15,586.8 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 1,948.4 | 2,276.8 |
Investment debt securities available-for-sale | 0 | 0 |
Investment debt securities held-to-maturity | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Mortgage servicing rights, net | 0 | 0 |
Loans held for sale | 0 | 0 |
Net loans held for investment | 0 | 0 |
Derivative assets | 0 | 0 |
Deferred compensation plan assets | 0 | 0 |
Total financial assets | 1,948.4 | 2,276.8 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 14,554.2 | 13,158.3 |
Time deposits | 0 | 0 |
Securities sold under repurchase agreements | 0 | 0 |
Accrued interest payable | 0 | 0 |
Long-term debt | 0 | 0 |
Subordinated debentures held by subsidiary trusts | 0 | 0 |
Derivative liabilities | 0 | 0 |
Deferred compensation plan liabilities | 0 | 0 |
Total financial liabilities | 14,554.2 | 13,158.3 |
Significant Other Observable Inputs (Level 2) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment debt securities available-for-sale | 3,957.8 | 4,008.7 |
Investment debt securities held-to-maturity | 1,701.9 | 55 |
Accrued interest receivable | 50.9 | 51.1 |
Mortgage servicing rights, net | 27.4 | 24 |
Loans held for sale | 48.8 | 74 |
Net loans held for investment | 9,736.2 | 9,770.9 |
Derivative assets | 45.1 | 55.3 |
Deferred compensation plan assets | 20.8 | 19.1 |
Total financial assets | 15,588.9 | 14,058.1 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 0 | 0 |
Time deposits | 1,011.7 | 1,061.1 |
Securities sold under repurchase agreements | 1,038.7 | 1,091.4 |
Accrued interest payable | 5 | 5.8 |
Long-term debt | 121.1 | 116.5 |
Subordinated debentures held by subsidiary trusts | 83 | 81.3 |
Derivative liabilities | 43.3 | 53.3 |
Deferred compensation plan liabilities | 20.8 | 19.1 |
Total financial liabilities | 2,323.6 | 2,428.5 |
Significant Unobservable Inputs (Level 3) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment debt securities available-for-sale | 0 | 0 |
Investment debt securities held-to-maturity | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Mortgage servicing rights, net | 0 | 0 |
Loans held for sale | 0 | 0 |
Net loans held for investment | 12.8 | 14.7 |
Derivative assets | 0 | 0 |
Deferred compensation plan assets | 0 | 0 |
Total financial assets | 12.8 | 14.7 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 0 | 0 |
Time deposits | 0 | 0 |
Securities sold under repurchase agreements | 0 | 0 |
Accrued interest payable | 0 | 0 |
Long-term debt | 0 | 0 |
Subordinated debentures held by subsidiary trusts | 0 | 0 |
Derivative liabilities | 0 | 0 |
Deferred compensation plan liabilities | 0 | 0 |
Total financial liabilities | $ 0 | $ 0 |
Recent Authoritative Accounti_2
Recent Authoritative Accounting Guidance (Details) - USD ($) $ in Millions | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total stockholders’ equity | $ 1,970.9 | $ 1,933.4 | $ 1,959.8 | $ 1,998.9 | $ 1,956.1 | $ 2,013.9 |
Off-Balance Sheet, Credit Loss, Liability | 3.4 | 3.4 | 3.7 | 2.3 | 2.1 | 0 |
Retained earnings | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Total stockholders’ equity | $ 1,005.2 | $ 988.2 | $ 962.1 | $ 912.5 | $ 897.6 | $ 953.6 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions | Jul. 26, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Subsequent Event [Line Items] | |||
Financing Receivable, Modifications, Recorded Investment, Non Accrual | $ 5 | $ 11.3 | |
Class A Common Stock | Subsequent Event | |||
Subsequent Event [Line Items] | |||
Dividend amount per share (in dollars) | $ 0.41 |