Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'CATHAY GENERAL BANCORP | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 79,704,258 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0000861842 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $200,302 | $153,747 |
Short-term investments and interest bearing deposits | 597,747 | 516,938 |
Securities available-for-sale (amortized cost of $1,355,056 in 2014 and $1,637,965 in 2013) | 1,340,092 | 1,586,668 |
Trading securities | ' | 4,936 |
Loans | 8,858,254 | 8,084,563 |
Less: Allowance for loan losses | -169,198 | -173,889 |
Unamortized deferred loan fees, net | -12,903 | -13,487 |
Loans, net | 8,676,153 | 7,897,187 |
Federal Home Loan Bank stock | 34,090 | 25,000 |
Other real estate owned, net | 29,025 | 52,985 |
Affordable housing investments, net | 96,504 | 84,108 |
Premises and equipment, net | 100,673 | 102,045 |
Customers’ liability on acceptances | 21,820 | 32,194 |
Accrued interest receivable | 24,986 | 24,274 |
Goodwill | 316,340 | 316,340 |
Other intangible assets, net | 3,459 | 2,230 |
Other assets | 158,275 | 190,634 |
Total assets | 11,599,466 | 10,989,286 |
Deposits | ' | ' |
Non-interest-bearing demand deposits | 1,593,003 | 1,441,858 |
Interest-bearing deposits: | ' | ' |
NOW deposits | 766,622 | 683,873 |
Money market deposits | 1,514,496 | 1,286,338 |
Savings deposits | 542,454 | 499,520 |
Time deposits under $100,000 | 1,103,634 | 931,204 |
Time deposits of $100,000 or more | 3,174,460 | 3,138,512 |
Total deposits | 8,694,669 | 7,981,305 |
Securities sold under agreements to repurchase | 550,000 | 800,000 |
Advances from the Federal Home Loan Bank | 555,000 | 521,200 |
Other borrowings for affordable housing investments | 18,882 | 19,062 |
Long-term debt | 119,136 | 121,136 |
Acceptances outstanding | 21,820 | 32,194 |
Other liabilities | 69,575 | 55,418 |
Total liabilities | 10,029,082 | 9,530,315 |
Commitments and contingencies | ' | ' |
Stockholders’ Equity | ' | ' |
Common stock, $0.01 par value, 100,000,000 shares authorized, 83,905,576 issued and 79,698,011 outstanding at September 30, 2014, and 83,797,434 issued and 79,589,869 outstanding at December 31, 2013 | 839 | 838 |
Additional paid-in-capital | 787,889 | 784,489 |
Accumulated other comprehensive loss, net | -8,835 | -29,729 |
Retained earnings | 916,227 | 829,109 |
Treasury stock, at cost (4,207,565 shares at September 30, 2014, and at December 31, 2013) | -125,736 | -125,736 |
Total equity | 1,570,384 | 1,458,971 |
Total liabilities and equity | $11,599,466 | $10,989,286 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Securities available-for-sale, amortized cost (in Dollars) | $1,355,056 | $1,637,965 |
Common stock par value (in Dollars per share) | $0.01 | $0.01 |
Common stock shares authorized | 100,000,000 | 100,000,000 |
Common stock shares issued | 83,905,576 | 83,797,434 |
Common stock shares outstanding | 79,698,011 | 79,589,869 |
Treasury stock shares | 4,207,565 | 4,207,565 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest and Dividend Income | ' | ' | ' | ' |
Loans receivable, including loan fees | $100,151 | $90,838 | $290,337 | $267,557 |
Investment securities- taxable | 5,105 | 10,868 | 19,389 | 34,986 |
Investment securities- nontaxable | ' | ' | ' | 995 |
Federal Home Loan Bank stock | 508 | 449 | 1,379 | 1,041 |
Deposits with banks | 571 | 307 | 1,499 | 796 |
Total interest and dividend income | 106,335 | 102,462 | 312,604 | 305,375 |
Interest Expense | ' | ' | ' | ' |
Time deposits of $100,000 or more | 7,107 | 6,887 | 20,519 | 20,466 |
Other deposits | 5,005 | 3,485 | 13,462 | 9,244 |
Securities sold under agreements to repurchase | 5,858 | 8,402 | 19,731 | 29,778 |
Advances from Federal Home Loan Bank | 153 | 150 | 849 | 375 |
Long-term debt | 1,456 | 930 | 3,012 | 2,778 |
Short-term borrowings | 1 | ' | 1 | ' |
Total interest expense | 19,580 | 19,854 | 57,574 | 62,641 |
Net interest income before provision for credit losses | 86,755 | 82,608 | 255,030 | 242,734 |
Credit for loan losses | -5,100 | -3,000 | -8,800 | -3,000 |
Net interest income after credit for loan losses | 91,855 | 85,608 | 263,830 | 245,734 |
Non-Interest Income | ' | ' | ' | ' |
Securities gains, net | 361 | 8,688 | 6,827 | 27,157 |
Letters of credit commissions | 1,559 | 1,698 | 4,547 | 4,608 |
Depository service fees | 1,330 | 1,371 | 3,999 | 4,330 |
Other operating income | 5,724 | 4,963 | 17,181 | 15,867 |
Total non-interest income | 8,974 | 16,720 | 32,554 | 51,962 |
Non-Interest Expense | ' | ' | ' | ' |
Salaries and employee benefits | 22,630 | 22,751 | 69,472 | 67,192 |
Occupancy expense | 3,934 | 3,812 | 11,692 | 10,966 |
Computer and equipment expense | 2,471 | 2,446 | 7,307 | 7,488 |
Professional services expense | 5,991 | 5,813 | 16,410 | 18,484 |
FDIC and State assessments | 2,261 | 1,712 | 6,692 | 5,431 |
Marketing expense | 639 | 1,097 | 2,722 | 2,703 |
Other real estate owned (income)/expense | -1,011 | 527 | -629 | 886 |
Operations of affordable housing investments, net | 1,672 | 1,234 | 5,126 | 4,952 |
Amortization of core deposit intangibles | 214 | 1,363 | 510 | 4,097 |
Costs associated with debt redemption | 527 | 6,861 | 3,348 | 22,557 |
Other operating expense | 3,279 | 3,054 | 10,538 | 8,758 |
Total non-interest expense | 42,607 | 50,670 | 133,188 | 153,514 |
Income before income tax expense | 58,222 | 51,658 | 163,196 | 144,182 |
Income tax expense | 22,313 | 19,029 | 60,944 | 52,489 |
Net income | 35,909 | 32,629 | 102,252 | 91,693 |
Less: net income attributable to noncontrolling interest | ' | 151 | ' | 452 |
Net income attributable to Cathay General Bancorp | 35,909 | 32,478 | 102,252 | 91,241 |
Dividends on preferred stock and noncash charge from repayment | ' | -2,434 | ' | -9,685 |
Net income attributable to common stockholders | 35,909 | 30,044 | 102,252 | 81,556 |
Other comprehensive income/(loss), net of tax | ' | ' | ' | ' |
Unrealized holding gain/(loss) on securities available-for-sale | 170 | -1,074 | 25,014 | -5,908 |
Less: reclassification adjustments included in net income | 209 | 5,036 | 3,957 | 15,740 |
Unrealized holding gain/(loss) on cash flow hedge derivatives | 100 | ' | -163 | ' |
Less: reclassification adjustments included in net income | 0 | 0 | 0 | 0 |
Total other comprehensive gain/(loss), net of tax | 61 | -6,110 | 20,894 | -21,648 |
Total comprehensive income | $35,970 | $26,368 | $123,146 | $69,593 |
Net income per common share: | ' | ' | ' | ' |
Basic (in Dollars per share) | $0.45 | $0.38 | $1.28 | $1.03 |
Diluted (in Dollars per share) | $0.45 | $0.38 | $1.28 | $1.03 |
Cash dividends paid per common share (in Dollars per share) | $0.07 | $0.01 | $0.19 | $0.03 |
Average common shares outstanding | ' | ' | ' | ' |
Basic (in Shares) | 79,677,952 | 78,894,262 | 79,639,202 | 78,853,333 |
Diluted (in Shares) | 80,176,100 | 79,114,122 | 80,087,819 | 78,944,152 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash Flows from Operating Activities | ' | ' |
Net income | $102,252 | $91,693 |
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | ' | ' |
Credit for loan losses | -8,800 | -3,000 |
Provision/(credit) for losses on other real estate owned | 1,693 | -675 |
Deferred tax (asset)/liability | 13,846 | -12,325 |
Depreciation | 5,336 | 4,899 |
Net gains on sale and transfer of other real estate owned | -3,467 | -843 |
Net gains on sale of loans | -300 | -864 |
Proceeds from sales of loans | 15,791 | 41,219 |
Originations of loans held-for-sale | -15,491 | -40,356 |
Net change in trading securities | ' | -152 |
Income associated with debt redemption | -550 | ' |
Write-downs on venture capital investments | 317 | 295 |
Write-downs on impaired securities | 820 | ' |
Net gains on sales and calls of securities | -7,647 | -27,157 |
Amortization/accretion of security premiums/discounts, net | 2,266 | 3,439 |
Amortization of other intangible assets | 575 | 4,192 |
Excess tax short-fall from share-based payment arrangements | 1,177 | 143 |
Stock based compensation and stock issued to officers as compensation | 2,948 | 2,775 |
Net change in accrued interest receivable and other assets | 1,691 | 24,875 |
Net change in other liabilities | -8,377 | 4,195 |
Net cash provided by operating activities | 104,080 | 92,353 |
Cash Flows from Investing Activities | ' | ' |
(Increase)/decrease in short-term investments | -75,873 | 22,959 |
Purchase of investment securities available-for-sale | -892,706 | -1,026,659 |
Proceeds from sale of investment securities available-for-sale | 543,305 | 903,915 |
Proceeds from repayments, maturities and calls of investment securities available-for-sale | 640,478 | 367,026 |
Proceeds from repayments, maturities and calls of investment securities held-to-maturity | ' | 50,973 |
Purchase of Federal Home Loan Bank stock | -17,736 | ' |
Redemptions of Federal Home Loan Bank stock | 8,646 | 12,589 |
Net increase in loans | -763,211 | -413,405 |
Purchase of premises and equipment | -4,036 | -4,734 |
Proceeds from sale of other real estate owned | 28,543 | 9,926 |
Net increase in investment in affordable housing | -5,617 | -6,167 |
Net cash used in investing activities | -538,207 | -83,577 |
Cash Flows from Financing Activities | ' | ' |
Net increase in deposits | 713,362 | 534,306 |
Net decrease in federal funds purchased and securities sold under agreements to repurchase | -250,000 | -450,000 |
Advances from Federal Home Loan Bank | 8,252,400 | 1,742,396 |
Repayment of Federal Home Loan Bank borrowings | -8,218,600 | -1,512,000 |
Cash dividends paid | -15,133 | -8,631 |
Redemption of series B preferred stock | ' | -258,000 |
Repurchase of trust preferred securities | -1,450 | ' |
Proceeds from shares issued under Dividend Reinvestment Plan | 1,554 | 202 |
Taxes paid related to net share settlement of RSUs | -274 | ' |
Excess tax short-fall from share-based payment arrangements | -1,177 | -143 |
Net cash provided by financing activities | 480,682 | 48,130 |
Increase in cash and cash equivalents | 46,555 | 56,906 |
Cash and cash equivalents, beginning of the period | 153,747 | 144,909 |
Cash and cash equivalents, end of the period | 200,302 | 201,815 |
Cash paid during the period: | ' | ' |
Interest | 59,478 | 65,372 |
Income taxes paid | 52,864 | 55,537 |
Non-cash investing and financing activities: | ' | ' |
Net change in unrealized holding (loss)/gain on securities available-for-sale, net of tax | 21,057 | -21,648 |
Net change in unrealized holding loss on cash flow hedge derivatives | -163 | ' |
Transfers of investment securities to available-for-sale from held-to-maturity | ' | 722,466 |
Transfers of trading securities to short-term investments | 4,936 | ' |
Transfers to other real estate owned from loans held for investment | -2,810 | 11,877 |
Loans to facilitate the sale of other real estate owned | ' | 75 |
Transfer of securities sold but not yet settled to other assets | ' | $12,469 |
Note_1_Business
Note 1 - Business | 9 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Nature of Operations [Text Block] | ' |
1. Business | |
Cathay General Bancorp (“Bancorp”) is the holding company for Cathay Bank (the “Bank” and, together, the “Company”), six limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, and GBC Venture Capital, Inc. The Bancorp also owns 100% of the common stock of five statutory business trusts created for the purpose of issuing capital securities. The Bank was founded in 1962 and offers a wide range of financial services. As of September 30, 2014, the Bank operated 21 branches in Southern California, 12 branches in Northern California, nine branches in New York State, three branches in Illinois, three branches in Washington State, two branches in Texas, one branch in Massachusetts, one branch in New Jersey, one branch in Nevada, one branch in Hong Kong, and a representative office in Shanghai and in Taipei. Deposit accounts at the Hong Kong branch are not insured by the Federal Deposit Insurance Corporation (the “FDIC”). |
Note_2_Basis_of_Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
2. Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. For further information, refer to the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
The preparation of the condensed consolidated financial statements in accordance with GAAP requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. The most significant estimates subject to change are the allowance for loan losses, goodwill impairment, and other-than-temporary impairment. |
Note_3_Recent_Accounting_Prono
Note 3 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
3. Recent Accounting Pronouncements | |
In January 2014, the FASB issued ASU 2014-01, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects.” ASU No. 2014-01 permits a reporting entity to make an accounting policy election to account for its investments in affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the amount of tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense or benefit. ASU 2014-01 becomes effective for interim and annual periods beginning on or after December 15, 2014. The Company is evaluating whether to adopt ASU 2014-01 or to continue to apply the equity method of accounting for investments in affordable housing projects. | |
In January 2014, the FASB issued ASU 2014-04, “Receivables—Trouble Debt Restructurings by Creditors.” ASU No. 2014-04 clarifies that upon either the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement, a creditor is considered to have physical possession of residential real estate property collateralizing a consumer mortgage loan. A reporting entity is required to have interim and annual disclosure of both the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in process of foreclosure. ASU 2014-04 becomes effective for interim and annual periods beginning on or after December 15, 2014. Adoption of ASU 2014-04 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In April 2014, the FASB issued ASU 2014-08, “Presentation of Financial Statements and Property, Plant, and Equipment.” ASU No. 2014-08 defines a discontinued operation as disposal of components of an entity that represent a strategic shift that has or will have a major effect on an entity’s operations. ASU No. 2014-08 also requires a reporting entity to present the assets and liabilities of a disposal group that includes a discontinued operation separately in the asset and liability sections, respectively, of the statement of financial position for each comparative period. ASU 2014-08 becomes effective for interim and annual periods beginning on or after December 15, 2014. Adoption of ASU 2014-08 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In June 2014, the FASB issued ASU 2014-11, “Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures.” ASU No. 2014-11 expands secured borrowing accounting for certain repurchase agreements. It requires the repurchase agreement be separate from the initial transfer of the financial asset in a repurchase financing arrangement. An entity is required to disclose additional information about certain transactions accounted for as a sale in which the transferor retains substantially all of the exposure to the economic return on the transferred financial assets through an agreement with the same counterparty. An entity is also required to disclose information about repurchase agreements, securities lending transactions and repurchase-to-maturity transactions that are accounted for as secured borrowings. ASU 2014-11 becomes effective for interim and annual periods beginning on or after December 15, 2014. Adoption of ASU 2014-11 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
In June 2014, the FASB issued ASU 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” ASU No. 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. An entity should recognize compensation cost in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the periods for which the requisite service has already been rendered. If the performance target becomes probable of being achieved before the end of requisite service period, the remaining unrecognized compensation cost should be recognized prospectively over the remaining requisite service period. The total amount of compensation cost recognized during and after the requisite service period should reflect the number of awards that are expected to vest and should be adjusted to reflect those awards that ultimately vest. ASU 2014-12 becomes effective for interim and annual periods beginning on or after December 15, 2015. Adoption of ASU 2014-12 is not expected to have a significant impact on the Company’s consolidated financial statements. | |
ASU 2014-15, “Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”, issued by the FASB in August 2014, requires an entity’s management to evaluate and disclose conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued. In addition, an entity’s management is to disclose management’s plans that alleviated or that are intended to mitigate the conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 becomes effective for interim and annual periods beginning on or after December 15, 2016. Adoption of ASU 2014-15 is not expected to have a significant impact on the Company’s consolidated financial statements. |
Note_4_Earnings_per_Share
Note 4 - Earnings per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
4. Earnings per Share | |||||||||||||||||
Basic earnings per share excludes dilution and is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and resulted in the issuance of common stock that then shared in earnings. | |||||||||||||||||
Outstanding stock options with anti-dilutive effect were not included in the computation of diluted earnings per share. The following table sets forth earnings per common share calculations: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands, except share and per share data) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Net income attributable to Cathay General Bancorp | $ | 35,909 | $ | 32,478 | $ | 102,252 | $ | 91,241 | |||||||||
Dividends on preferred stock and noncash charge from repayment | - | (2,434 | ) | - | (9,685 | ) | |||||||||||
Net income available to common stockholders | $ | 35,909 | $ | 30,044 | $ | 102,252 | $ | 81,556 | |||||||||
Weighted-average shares: | |||||||||||||||||
Basic weighted-average number of common shares outstanding | 79,677,952 | 78,894,262 | 79,639,202 | 78,853,333 | |||||||||||||
Dilutive effect of weighted-average outstanding common share equivalents | |||||||||||||||||
Warrants | 346,101 | 171,426 | 306,306 | 57,771 | |||||||||||||
Options | 109,803 | - | 103,022 | - | |||||||||||||
Restricted stock units | 42,244 | 48,434 | 39,289 | 33,048 | |||||||||||||
Diluted weighted-average number of common shares outstanding | 80,176,100 | 79,114,122 | 80,087,819 | 78,944,152 | |||||||||||||
Average stock options and warrants with anti-dilutive effect | 1,990,358 | 3,668,285 | 1,993,384 | 4,958,218 | |||||||||||||
Earnings per common share: | |||||||||||||||||
Basic | $ | 0.45 | $ | 0.38 | $ | 1.28 | $ | 1.03 | |||||||||
Diluted | $ | 0.45 | $ | 0.38 | $ | 1.28 | $ | 1.03 | |||||||||
Note_5_StockBased_Compensation
Note 5 - Stock-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||||||||
5. Stock-Based Compensation | |||||||||||||||||
Under the Company’s equity incentive plans, directors and eligible employees may be granted incentive or non-statutory stock options and/or restricted stock units, or awarded non-vested stock. As of September 30, 2014, the only options granted by the Company were non-statutory stock options to selected Bank officers and non-employee directors at exercise prices equal to the fair market value of a share of the Company’s common stock on the date of grant. Such options have a maximum ten-year term and vest in 20% annual increments (subject to early termination in certain events) except certain options granted to the Chief Executive Officer of the Company in 2005 and 2008. If such options expire or terminate without having been exercised, any shares not purchased will again be available for future grants or awards. There were no options granted during the first nine months of 2014 or the year ended December 31, 2013. | |||||||||||||||||
Option compensation expense was zero for the three months ended September 30, 2014, and for the three months ended September 30, 2013. For the nine months ended September 30, option compensation expense totaled zero for 2014 and $129,000 for 2013. Stock-based compensation is recognized ratably over the requisite service period for all awards. | |||||||||||||||||
No stock options were exercised in the first nine months of 2014 or in the first nine months of 2013. The table below summarizes stock option activity for the periods indicated: | |||||||||||||||||
Weighted-average | Weighted-average Remaining Contractual Life | Aggregate | |||||||||||||||
Intrinsic | |||||||||||||||||
Value | |||||||||||||||||
Shares | exercise price | (in years) | (in thousands) | ||||||||||||||
Balance, December 31, 2013 | 2,812,874 | $ | 31.81 | 1.9 | $ | 2,119 | |||||||||||
Forfeited | (438,000 | ) | 28.7 | ||||||||||||||
Balance, March 31, 2014 | 2,374,874 | $ | 32.38 | 2 | $ | 1,148 | |||||||||||
Forfeited | (10,000 | ) | 32.26 | ||||||||||||||
Balance, June 30, 2014 | 2,364,874 | $ | 32.38 | 1.7 | $ | 4,083 | |||||||||||
Forfeited | - | - | |||||||||||||||
Balance, September 30, 2014 | 2,364,874 | $ | 32.38 | 1.5 | $ | 3,487 | |||||||||||
Exercisable, September 30, 2014 | 2,364,874 | $ | 32.38 | 1.5 | $ | 3,487 | |||||||||||
At September 30, 2014, 3,070,663 shares were available under the Company’s 2005 Incentive Plan for future grants. | |||||||||||||||||
The Company granted restricted stock units for 17,601 shares at an average closing price of $24.66 per share in the first nine months of 2014 and 25,037 shares at an average closing price of $20.68 per share in the year ended December 31, 2013. The restricted stock units granted in 2014 and 2013 are scheduled to vest two years from grant date. | |||||||||||||||||
The following table presents information relating to the restricted stock units as of September 30, 2014: | |||||||||||||||||
Units | |||||||||||||||||
Balance at December 31, 2013 | 143,433 | ||||||||||||||||
Granted | 17,601 | ||||||||||||||||
Forfeited | - | ||||||||||||||||
Vested | (42,520 | ) | |||||||||||||||
Balance at September 30, 2014 | 118,514 | ||||||||||||||||
The compensation expense related to the restricted stock units was $1.0 million for the three months ended September 30, 2014, compared to $476,000 for the three months ended September 30, 2013. For the nine months ended September 30, compensation expense recorded related to the restricted stock units was $2.9 million in 2014 and $1.6 million in 2013. Unrecognized stock-based compensation expense related to restricted stock units was $4.7 million at September 30, 2014, and is expected to be recognized over the next 2.0 years. | |||||||||||||||||
In December 2013, the Company granted performance-based restricted stock units in which the number of units earned is calculated based on the relative total stockholder return (“TSR”) of the Company’s common stock as compared to the TSR of the KBW Regional Banking Index. In addition, the Company granted performance stock units in which the number of units earned is determined by comparison to the targeted earnings per share (“EPS”) for the three years ending December 31, 2016. Performance TSR restricted stock units for 119,840 shares and performance EPS restricted stock units for 116,186 shares were granted to eight executive officers. Both the performance TSR and EPS stock units are scheduled to vest on December 31, 2016. In the first nine months of 2014, the Company did not grant any performance stock units. | |||||||||||||||||
The following table summarizes the tax excess (short-fall) from share-based payment arrangements: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Short-fall of tax deductions in excess of grant-date fair value | $ | - | $ | (63 | ) | $ | (1,177 | ) | $ | (143 | ) | ||||||
Benefit of tax deductions on grant-date fair value | - | 95 | 1,177 | 702 | |||||||||||||
Total benefit of tax deductions | $ | - | $ | 32 | $ | - | $ | 559 | |||||||||
Note_6_Investment_Securities
Note 6 - Investment Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | ||||||||||||||||||||||||
6.Investment Securities | |||||||||||||||||||||||||
Investment securities were $1.34 billion at September 30, 2014, compared to $1.59 billion at December 31, 2013. During the first quarter of 2013, due to the ongoing discussions regarding corporate income tax rates which could have a negative impact on the after-tax yields and fair values of the Company’s portfolio of municipal securities, the Company determined it may sell such securities in response to market conditions. As a result, the Company reclassified its municipal securities from securities held-to-maturity to securities available-for-sale. Concurrent with this reclassification, the Company also reclassified all other securities held-to-maturity, which together with the municipal securities had an amortized cost on the date of transfer of $722.5 million, to securities available-for-sale. At the reclassification date, a net unrealized gain was recorded in other comprehensive income for these securities totaling $40.5 million. | |||||||||||||||||||||||||
The following tables reflect the amortized cost, gross unrealized gains, gross unrealized losses, and fair value of investment securities as of September 30, 2014, and December 31, 2013: | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. treasury securities | $ | 539,919 | $ | 198 | $ | 29 | $ | 540,088 | |||||||||||||||||
Mortgage-backed securities | 703,312 | 1,085 | 21,073 | 683,324 | |||||||||||||||||||||
Collateralized mortgage obligations | 80 | - | 34 | 46 | |||||||||||||||||||||
Corporate debt securities | 94,941 | 751 | 1,355 | 94,337 | |||||||||||||||||||||
Mutual funds | 6,000 | - | 183 | 5,817 | |||||||||||||||||||||
Preferred stock of government sponsored entities | 7,196 | 2,056 | - | 9,252 | |||||||||||||||||||||
Other equity securities | 3,608 | 3,620 | - | 7,228 | |||||||||||||||||||||
Total | $ | 1,355,056 | $ | 7,710 | $ | 22,674 | $ | 1,340,092 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. treasury securities | $ | 460,095 | $ | 99 | $ | 1 | $ | 460,193 | |||||||||||||||||
Mortgage-backed securities | 1,010,294 | 7,049 | 64,529 | 952,814 | |||||||||||||||||||||
Collateralized mortgage obligations | 5,929 | 231 | 54 | 6,106 | |||||||||||||||||||||
Asset-backed securities | 123 | - | - | 123 | |||||||||||||||||||||
Corporate debt securities | 154,955 | 298 | 4,949 | 150,304 | |||||||||||||||||||||
Mutual funds | 6,000 | - | 275 | 5,725 | |||||||||||||||||||||
Preferred stock of government sponsored entities | 569 | 10,834 | - | 11,403 | |||||||||||||||||||||
Total | $ | 1,637,965 | $ | 18,511 | $ | 69,808 | $ | 1,586,668 | |||||||||||||||||
The amortized cost and fair value of investment securities at September 30, 2014, by contractual maturities, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or repayment penalties. | |||||||||||||||||||||||||
Securities Available-For-Sale | |||||||||||||||||||||||||
Amortized cost | Fair value | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | 115,047 | $ | 115,156 | |||||||||||||||||||||
Due after one year through five years | 446,739 | 447,662 | |||||||||||||||||||||||
Due after five years through ten years | 85,693 | 84,983 | |||||||||||||||||||||||
Due after ten years (1) | 707,577 | 692,291 | |||||||||||||||||||||||
Total | $ | 1,355,056 | $ | 1,340,092 | |||||||||||||||||||||
(1) Equity securities are reported in this category | |||||||||||||||||||||||||
Proceeds from sales of mortgage-backed securities were $458.4 million and from repayments, maturities and calls of mortgage-backed securities were $54.7 million during the first nine months of 2014 compared to proceeds from sales of $348.7 million and proceeds of $237.9 million from repayments, maturities, and calls during the same period a year ago. Proceeds from sales of other investment securities were $84.9 million during the first nine months of 2014 compared to $555.2 million during the same period a year ago. Proceeds from maturities and calls of other investment securities were $585.8 million during the first nine months of 2014 compared to $180.1 million during the same period a year ago. Gains of $17.1 million and losses of $9.5 million were realized on sales and calls of investment securities during the first nine months of 2014 compared to gains of $27.2 million and no losses realized during the same period a year ago. | |||||||||||||||||||||||||
At September 30, 2014, all of the Company’s mortgage-backed securities were rated as investment grade except for one non-agency issue. Total unrealized losses of $21.1 million from all mortgage-backed securities resulted from increases in interest rates subsequent to the date that these securities were purchased. Total unrealized losses of $1.4 million on corporate bonds relates to four issues of investments in bonds of financial institutions, all of which were investment grade at the date of acquisition and as of September 30, 2014. The unrealized losses were primarily caused by the widening of credit and liquidity spreads since the dates of acquisition. The contractual terms of those investments do not permit the issuers to settle the security at a price less than the amortized cost of the investment. The Company currently does not believe it is probable that it will be unable to collect all amounts due according to the contractual terms of the investments. Therefore, it is expected that these mortgage-backed securities and corporate bonds would not be settled at a price less than the amortized cost of the investment. Because the Company does not intend to sell and would not be required to sell these investments until a recovery of fair value, which may be maturity, it does not consider its investments in these mortgaged-backed securities and corporate bonds to be other-than-temporarily impaired at September 30, 2014. | |||||||||||||||||||||||||
The temporarily impaired securities represent 66.3% of the fair value of investment securities as of September 30, 2014. Unrealized losses for securities with unrealized losses for less than twelve months represent 0.07%, and securities with unrealized losses for twelve months or more represent 3.5%, of the historical cost of these securities. Unrealized losses on these securities generally resulted from increases in interest rates or spreads subsequent to the date that these securities were purchased. During the third quarter of 2014, the Company wrote down the carrying value of its portfolio of agency preferred stock by $820,000.. | |||||||||||||||||||||||||
At September 30, 2014, management believed the impairment was temporary and, accordingly, no impairment loss on debt securities has been recognized in our condensed consolidated statements of operations. The Company expects to recover the amortized cost basis of its debt securities, and has no intent to sell and will not be required to sell available-for-sale debt securities that have declined below their cost before their anticipated recovery. | |||||||||||||||||||||||||
The tables below show the fair value and unrealized losses of the temporarily impaired securities in our investment securities portfolio as of September 30, 2014, and December 31, 2013: | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Temporarily impaired securities | |||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. treasury securities | $ | 174,959 | $ | 29 | $ | - | $ | - | $ | 174,959 | $ | 29 | |||||||||||||
Mortgage-backed securities | 92,436 | 151 | 551,854 | 20,922 | 644,290 | 21,073 | |||||||||||||||||||
Collateralized mortgage obligations | - | - | 46 | 34 | 46 | 34 | |||||||||||||||||||
Corporate debt securities | - | - | 63,645 | 1,355 | 63,645 | 1,355 | |||||||||||||||||||
Mutual funds | - | - | 5,817 | 183 | 5,817 | 183 | |||||||||||||||||||
Total | $ | 267,395 | $ | 180 | $ | 621,362 | $ | 22,494 | $ | 888,757 | $ | 22,674 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Temporarily impaired securities | |||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. treasury securities | $ | 75,064 | $ | 1 | $ | - | $ | - | $ | 75,064 | $ | 1 | |||||||||||||
Mortgage-backed securities | 792,012 | 64,526 | 272 | 2 | 792,284 | 64,528 | |||||||||||||||||||
Mortgage-backed securities-Non-agency | 94 | 1 | - | - | 94 | 1 | |||||||||||||||||||
Collateralized mortgage obligations | 68 | 4 | 301 | 50 | 369 | 54 | |||||||||||||||||||
Corporate debt securities | 9,970 | 30 | 100,081 | 4,919 | 110,051 | 4,949 | |||||||||||||||||||
Mutual funds | - | - | 5,724 | 275 | 5,724 | 275 | |||||||||||||||||||
Total securities available-for-sale | $ | 877,208 | $ | 64,562 | $ | 106,378 | $ | 5,246 | $ | 983,586 | $ | 69,808 | |||||||||||||
Total investment securities | $ | 877,208 | $ | 64,562 | $ | 106,378 | $ | 5,246 | $ | 983,586 | $ | 69,808 | |||||||||||||
Investment securities having a carrying value of $703.6 million at September 30, 2014, and $926.5 million at December 31, 2013, were pledged to secure public deposits, other borrowings, treasury tax and loan, and securities sold under agreements to repurchase. |
Note_7_Loans
Note 7 - Loans | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||
7. Loans | |||||||||||||||||||||||||||||||||
Most of the Company’s business activity is with Asian customers located in Southern and Northern California; New York City, New York; Houston and Dallas, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; Las Vegas, Nevada, and Hong Kong. The Company has no specific industry concentration, and generally its loans are secured by real property or other collateral of the borrowers. Loans are generally expected to be paid off from the operating profits of the borrowers, from refinancing by other lenders, or through sale by the borrowers of the secured collateral. | |||||||||||||||||||||||||||||||||
The components of loans in the condensed consolidated balance sheets as of September 30, 2014, and December 31, 2013, were as follows: | |||||||||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 2,450,118 | $ | 2,298,724 | |||||||||||||||||||||||||||||
Residential mortgage loans | 1,516,711 | 1,355,255 | |||||||||||||||||||||||||||||||
Commercial mortgage loans | 4,414,067 | 4,023,051 | |||||||||||||||||||||||||||||||
Equity lines | 172,223 | 171,277 | |||||||||||||||||||||||||||||||
Real estate construction loans | 301,459 | 221,701 | |||||||||||||||||||||||||||||||
Installment and other loans | 3,676 | 14,555 | |||||||||||||||||||||||||||||||
Gross loans | 8,858,254 | 8,084,563 | |||||||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | (169,198 | ) | (173,889 | ) | |||||||||||||||||||||||||||||
Unamortized deferred loan fees | (12,903 | ) | (13,487 | ) | |||||||||||||||||||||||||||||
Total loans, net | $ | 8,676,153 | $ | 7,897,187 | |||||||||||||||||||||||||||||
At September 30, 2014, recorded investment in impaired loans totaled $188.3 million and was comprised of non-accrual loans of $65.2 million and accruing troubled debt restructured loans (“TDRs) of $123.1 million. At December 31, 2013, recorded investment in impaired loans totaled $200.8 million and was comprised of non-accrual loans of $83.2 million and accruing TDRs of $117.6 million. For impaired loans, the amounts previously charged off represent 12.6% at September 30, 2014, and 23.9% at December 31, 2013, of the contractual balances for impaired loans. The following table presents the average balance and interest income recognized related to impaired loans for the periods indicated: | |||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Three months ended | Nine months ended | ||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 21,706 | $ | 32,187 | $ | 26,741 | $ | 24,873 | $ | 205 | $ | 166 | $ | 636 | $ | 395 | |||||||||||||||||
Real estate construction loans | 33,276 | 34,946 | 33,459 | 39,014 | 66 | 67 | 198 | 199 | |||||||||||||||||||||||||
Commercial mortgage loans | 119,611 | 132,921 | 114,663 | 145,380 | 1,153 | 730 | 3,310 | 3,289 | |||||||||||||||||||||||||
Residential mortgage and equity lines | 16,151 | 16,884 | 17,889 | 17,574 | 128 | 106 | 363 | 227 | |||||||||||||||||||||||||
Total impaired loans | $ | 190,744 | $ | 216,938 | $ | 192,752 | $ | 226,841 | $ | 1,552 | $ | 1,069 | $ | 4,507 | $ | 4,110 | |||||||||||||||||
The following tables present impaired loans and the related allowance for credit losses as of the dates indicated: | |||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance | Unpaid | Recorded | Allowance | ||||||||||||||||||||||||||||
Principal | Investment | Principal | Investment | ||||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no allocated allowance | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 19,792 | $ | 18,764 | $ | - | $ | 20,992 | $ | 18,905 | $ | - | |||||||||||||||||||||
Real estate construction loans | 37,403 | 16,133 | - | 25,401 | 15,097 | - | |||||||||||||||||||||||||||
Commercial mortgage loans | 84,274 | 82,586 | - | 105,593 | 78,930 | - | |||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 2,541 | 2,541 | - | 4,892 | 4,892 | - | |||||||||||||||||||||||||||
Subtotal | $ | 144,010 | $ | 120,024 | $ | - | $ | 156,878 | $ | 117,824 | $ | - | |||||||||||||||||||||
With allocated allowance | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 8,951 | $ | 6,985 | $ | 2,730 | $ | 22,737 | $ | 13,063 | $ | 2,519 | |||||||||||||||||||||
Real estate construction loans | 15,377 | 15,377 | 2,604 | 28,475 | 19,323 | 3,460 | |||||||||||||||||||||||||||
Commercial mortgage loans | 33,749 | 32,973 | 7,999 | 39,223 | 35,613 | 6,584 | |||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 13,422 | 12,988 | 481 | 16,535 | 14,957 | 721 | |||||||||||||||||||||||||||
Subtotal | $ | 71,499 | $ | 68,323 | $ | 13,814 | $ | 106,970 | $ | 82,956 | $ | 13,284 | |||||||||||||||||||||
Total impaired loans | $ | 215,509 | $ | 188,347 | $ | 13,814 | $ | 263,848 | $ | 200,780 | $ | 13,284 | |||||||||||||||||||||
The following tables present the aging of the loan portfolio by type as of September 30, 2014, and as of December 31, 2013: | |||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Non-accrual | Total Past Due | Loans Not | Total | |||||||||||||||||||||||||||
Past Due | Past Due | More Past | Loans | Past Due | |||||||||||||||||||||||||||||
Due | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 8,307 | $ | 3,920 | $ | 662 | $ | 8,851 | $ | 21,740 | $ | 2,428,378 | $ | 2,450,118 | |||||||||||||||||||
Real estate construction loans | - | - | - | 25,728 | 25,728 | 275,731 | 301,459 | ||||||||||||||||||||||||||
Commercial mortgage loans | 171 | 1,676 | - | 23,830 | 25,677 | 4,388,390 | 4,414,067 | ||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 408 | 807 | - | 6,849 | 8,064 | 1,680,870 | 1,688,934 | ||||||||||||||||||||||||||
Installment and other loans | 168 | - | - | - | 168 | 3,508 | 3,676 | ||||||||||||||||||||||||||
Total loans | $ | 9,054 | $ | 6,403 | $ | 662 | $ | 65,258 | $ | 81,377 | $ | 8,776,877 | $ | 8,858,254 | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Non-accrual | Total Past Due | Loans Not | Total | |||||||||||||||||||||||||||
Past Due | Past Due | More Past | Loans | Past Due | |||||||||||||||||||||||||||||
Due | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 7,170 | $ | 16,562 | $ | - | $ | 21,232 | $ | 44,964 | $ | 2,253,760 | $ | 2,298,724 | |||||||||||||||||||
Real estate construction loans | - | - | - | 28,586 | 28,586 | 193,115 | 221,701 | ||||||||||||||||||||||||||
Commercial mortgage loans | 20,043 | 7,862 | 982 | 19,621 | 48,508 | 3,974,543 | 4,023,051 | ||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 3,508 | 832 | - | 13,744 | 18,084 | 1,508,448 | 1,526,532 | ||||||||||||||||||||||||||
Installment and other loans | 100 | - | - | - | 100 | 14,455 | 14,555 | ||||||||||||||||||||||||||
Total loans | $ | 30,821 | $ | 25,256 | $ | 982 | $ | 83,183 | $ | 140,242 | $ | 7,944,321 | $ | 8,084,563 | |||||||||||||||||||
The determination of the amount of the allowance for credit losses for impaired loans is based on management’s current judgment about the credit quality of the loan portfolio and takes into consideration known relevant internal and external factors that affect collectability when determining the appropriate level for the allowance for credit losses. The nature of the process by which the Bank determines the appropriate allowance for credit losses requires the exercise of considerable judgment. This allowance evaluation process is also applied to troubled debt restructurings since they are considered to be impaired loans. | |||||||||||||||||||||||||||||||||
A troubled debt restructuring is a formal modification of the terms of a loan when the lender, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower. The concessions may be granted in various forms, including a change in the stated interest rate, a reduction in the loan balance or accrued interest, or an extension of the maturity date that causes significant delay in payment. | |||||||||||||||||||||||||||||||||
TDRs on accrual status are comprised of the loans that have, pursuant to the Bank’s policy, performed under the restructured terms and have demonstrated sustained performance under the modified terms for six months before being returned to accrual status. The sustained performance considered by management pursuant to its policy includes the periods prior to the modification if the prior performance met or exceeded the modified terms. This would include cash paid by the borrower prior to the restructure to set up interest reserves. | |||||||||||||||||||||||||||||||||
At September 30, 2014, accruing TDRs were $123.1 million and non-accrual TDRs were $34.2 million compared to accruing TDRs of $117.6 million and non-accrual TDRs of $38.8 million at December 31, 2013. The Company allocated specific reserves of $8.0 million to accruing TDRs and $3.9 million to non-accrual TDRs at September 30, 2014, and $6.9 million to accruing TDRs and $2.2 million to non-accrual TDRs at December 31, 2013. The following tables present TDRs that were modified during the first nine months of 2014 and 2013, their specific reserves at September 30, 2014 and 2013, and charge-offs during the first nine months of 2014 and 2013: | |||||||||||||||||||||||||||||||||
Nine months ended September 30, 2014 | 30-Sep-14 | ||||||||||||||||||||||||||||||||
No. of | Pre-Modification | Post-Modification | Charge-offs | Specific Reserve | |||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | 6 | $ | 10,773 | $ | 10,773 | $ | - | $ | 26 | ||||||||||||||||||||||||
Commercial mortgage loans | 3 | 11,818 | 11,818 | - | 564 | ||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 5 | 2,226 | 2,226 | - | 16 | ||||||||||||||||||||||||||||
Total | 14 | $ | 24,817 | $ | 24,817 | $ | - | $ | 606 | ||||||||||||||||||||||||
Nine months ended September 30, 2013 | 30-Sep-13 | ||||||||||||||||||||||||||||||||
No. of Contracts | Pre-Modification | Post-Modification | Charge-offs | Specific Reserve | |||||||||||||||||||||||||||||
Outstanding Recorded | Outstanding Recorded | ||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | 9 | 11,705 | 10,516 | $ | 1,189 | $ | 71 | ||||||||||||||||||||||||||
Commercial mortgage loans | 3 | 7,474 | 7,474 | - | 191 | ||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 11 | 3,736 | 3,658 | 78 | 125 | ||||||||||||||||||||||||||||
Total | 23 | $ | 22,915 | $ | 21,648 | $ | 1,267 | $ | 387 | ||||||||||||||||||||||||
Modifications of the loan terms during the first nine months of 2014 were in the form of changes in the stated interest rate, and/or extension of maturity dates, and/or reduction in monthly payment amount. The length of time for which modifications involving a reduction of the stated interest rate or changes in payment terms that were documented ranged from seven months to two years from the modification date. | |||||||||||||||||||||||||||||||||
We expect that the TDRs on accruing status as of September 30, 2014, which were all performing in accordance with their restructured terms, will continue to comply with the restructured terms because of the reduced principal or interest payments on these loans. A summary of TDRs by type of concession and by type of loan, as of September 30, 2014, and December 31, 2013, is shown below: | |||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Accruing TDRs | Principal | Rate | Rate Reduction | Rate Reduction | Total | ||||||||||||||||||||||||||||
Deferral | Reduction | and Forgiveness | and Payment | ||||||||||||||||||||||||||||||
of Principal | Deferral | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 13,006 | $ | 1,558 | $ | - | $ | 2,333 | $ | 16,897 | |||||||||||||||||||||||
Real estate construction loans | - | - | - | 5,782 | 5,782 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 19,116 | 8,317 | - | 64,296 | 91,729 | ||||||||||||||||||||||||||||
Residential mortgage loans | 3,557 | 1,013 | 216 | 3,895 | 8,681 | ||||||||||||||||||||||||||||
Total accruing TDRs | $ | 35,679 | $ | 10,888 | $ | 216 | $ | 76,306 | $ | 123,089 | |||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Non-accrual TDRs | Interest | Principal | Rate Reduction | Rate Reduction | Total | ||||||||||||||||||||||||||||
Deferral | Deferral | and Forgiveness | and Payment | ||||||||||||||||||||||||||||||
of Principal | Deferral | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 2,186 | $ | 1,225 | $ | 243 | $ | 3,654 | |||||||||||||||||||||||
Real estate construction loans | - | 15,377 | - | 8,851 | 24,228 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 226 | 3,159 | - | 1,369 | 4,754 | ||||||||||||||||||||||||||||
Residential mortgage loans | 213 | - | - | 1,313 | 1,526 | ||||||||||||||||||||||||||||
Total non-accrual TDRs | $ | 439 | $ | 20,722 | $ | 1,225 | $ | 11,776 | $ | 34,162 | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Accruing TDRs | Principal | Rate | Rate Reduction | Total | |||||||||||||||||||||||||||||
Deferral | Reduction | and Payment | |||||||||||||||||||||||||||||||
Deferral | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 9,112 | $ | 2,916 | $ | 2,708 | $ | 14,736 | |||||||||||||||||||||||||
Real estate construction loans | - | - | 5,834 | 5,834 | |||||||||||||||||||||||||||||
Commercial mortgage loans | 11,333 | 9,389 | 70,200 | 90,922 | |||||||||||||||||||||||||||||
Residential mortgage loans | 1,564 | 1,024 | 3,517 | 6,105 | |||||||||||||||||||||||||||||
Total accruing TDRs | $ | 22,009 | $ | 13,329 | $ | 82,259 | $ | 117,597 | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Non-accrual TDRs | Interest | Principal | Rate Reduction | Rate Reduction | Total | ||||||||||||||||||||||||||||
Deferral | Deferral | and Forgiveness | and Payment | ||||||||||||||||||||||||||||||
of Principal | Deferral | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 2,866 | $ | 1,352 | $ | - | $ | 4,218 | |||||||||||||||||||||||
Real estate construction loans | - | 16,009 | - | 9,263 | 25,272 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 1,443 | 2,168 | - | 1,843 | 5,454 | ||||||||||||||||||||||||||||
Residential mortgage loans | 241 | 2,206 | - | 1,378 | 3,825 | ||||||||||||||||||||||||||||
Total non-accrual TDRs | $ | 1,684 | $ | 23,249 | $ | 1,352 | $ | 12,484 | $ | 38,769 | |||||||||||||||||||||||
The activity within our TDRs for the periods indicated are shown below: | |||||||||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||
Accruing TDRs | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 111,136 | $ | 115,464 | $ | 117,597 | $ | 144,695 | |||||||||||||||||||||||||
New restructurings | 14,900 | 10,669 | 22,997 | 15,485 | |||||||||||||||||||||||||||||
Restructured loans restored to accrual status | 660 | 5,397 | 1,622 | 6,851 | |||||||||||||||||||||||||||||
Charge-offs | - | - | - | (78 | ) | ||||||||||||||||||||||||||||
Payments | (3,607 | ) | (15,274 | ) | (11,897 | ) | (48,663 | ) | |||||||||||||||||||||||||
Restructured loans placed on nonaccrual | - | (316 | ) | (7,230 | ) | (2,350 | ) | ||||||||||||||||||||||||||
Ending balance | $ | 123,089 | $ | 115,940 | $ | 123,089 | $ | 115,940 | |||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||
Non-accrual TDRs | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 43,605 | $ | 48,524 | $ | 38,769 | $ | 47,731 | |||||||||||||||||||||||||
New restructurings | 34 | 2,415 | 1,820 | 6,163 | |||||||||||||||||||||||||||||
Restructured loans placed on nonaccrual | - | 316 | 7,230 | 2,350 | |||||||||||||||||||||||||||||
Charge-offs | (234 | ) | (1,188 | ) | (833 | ) | (2,121 | ) | |||||||||||||||||||||||||
Payments | (8,583 | ) | (1,062 | ) | (11,202 | ) | (3,664 | ) | |||||||||||||||||||||||||
Restructured loans restored to accrual status | (660 | ) | (5,397 | ) | (1,622 | ) | (6,851 | ) | |||||||||||||||||||||||||
Ending balance | $ | 34,162 | $ | 43,608 | $ | 34,162 | $ | 43,608 | |||||||||||||||||||||||||
A loan is considered to be in payment default once it is 60 to 90 days contractually past due under the modified terms. The Company had one commercial mortgage loan in the amount of $62,000 that was modified as a TDR during the previous twelve months and which subsequently defaulted as of September 30, 2014. | |||||||||||||||||||||||||||||||||
Under the Company’s internal underwriting policy, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification in order to determine whether a borrower is experiencing financial difficulty. | |||||||||||||||||||||||||||||||||
As of September 30, 2014, there were no commitments to lend additional funds to those borrowers whose loans have been restructured, were considered impaired, or were on non-accrual status. | |||||||||||||||||||||||||||||||||
As part of the on-going monitoring of the credit quality of our loan portfolio, the Company utilizes a risk grading matrix to assign a risk grade to each loan. The risk rating categories can be generally described by the following grouping for non-homogeneous loans: | |||||||||||||||||||||||||||||||||
● | Pass/Watch– These loans range from minimal credit risk to lower than average, but still acceptable, credit risk. | ||||||||||||||||||||||||||||||||
● | Special Mention– Borrower is fundamentally sound and loan is currently protected but adverse trends are apparent that, if not corrected, may affect ability to repay. Primary source of loan repayment remains viable but there is increasing reliance on collateral or guarantor support. | ||||||||||||||||||||||||||||||||
● | Substandard – These loans are inadequately protected by current sound net worth, paying capacity, or collateral. Well-defined weaknesses exist that could jeopardize repayment of debt. Loss may not be imminent, but if weaknesses are not corrected, there is a good possibility of some loss. | ||||||||||||||||||||||||||||||||
● | Doubtful– The possibility of loss is extremely high, but due to identifiable and important pending events (which may strengthen the loan), a loss classification is deferred until the situation is better defined. | ||||||||||||||||||||||||||||||||
● | Loss– These loans are considered uncollectible and of such little value that to continue to carry the loan as an active asset is no longer warranted. | ||||||||||||||||||||||||||||||||
The following tables present loan portfolio by risk rating as of September 30, 2014, and as of December 31, 2013: | |||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
Pass/Watch | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 2,283,837 | $ | 82,731 | $ | 80,180 | $ | 3,370 | $ | 2,450,118 | |||||||||||||||||||||||
Real estate construction loans | 267,760 | - | 32,199 | 1,500 | 301,459 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 4,124,943 | 112,825 | 176,299 | - | 4,414,067 | ||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 1,679,920 | - | 9,014 | - | 1,688,934 | ||||||||||||||||||||||||||||
Installment and other loans | 3,676 | - | - | - | 3,676 | ||||||||||||||||||||||||||||
Total gross loans | $ | 8,360,136 | $ | 195,556 | $ | 297,692 | $ | 4,870 | $ | 8,858,254 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Pass/Watch | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 2,108,191 | $ | 84,786 | $ | 102,088 | $ | 3,659 | $ | 2,298,724 | |||||||||||||||||||||||
Real estate construction loans | 184,449 | - | 33,939 | 3,313 | 221,701 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 3,686,788 | 127,436 | 208,827 | - | 4,023,051 | ||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 1,510,647 | - | 15,885 | - | 1,526,532 | ||||||||||||||||||||||||||||
Installment and other loans | 14,555 | - | - | - | 14,555 | ||||||||||||||||||||||||||||
Total gross loans | $ | 7,504,630 | $ | 212,222 | $ | 360,739 | $ | 6,972 | $ | 8,084,563 | |||||||||||||||||||||||
The allowance for loan losses and the reserve for off-balance sheet credit commitments are significant estimates that can and do change based on management’s process in analyzing the loan portfolio and on management’s assumptions about specific borrowers, underlying collateral, and applicable economic and environmental conditions, among other factors. | |||||||||||||||||||||||||||||||||
The following table presents the balance in the allowance for loan losses by portfolio segment and based on impairment method as of September 30, 2014, and as of December 31, 2013: | |||||||||||||||||||||||||||||||||
Commercial | Real Estate Construction | Commercial Mortgage | Residential Mortgage Loans and | Installment and | |||||||||||||||||||||||||||||
Loans | Loans | Loans | Equity Lines | Other Loans | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | |||||||||||||||||||||||||||||||||
Allowance | $ | 2,730 | $ | 2,604 | $ | 7,999 | $ | 481 | $ | - | $ | 13,814 | |||||||||||||||||||||
Balance | $ | 25,749 | $ | 31,510 | $ | 115,559 | $ | 15,529 | $ | - | $ | 188,347 | |||||||||||||||||||||
Loans collectively evaluated for impairment | |||||||||||||||||||||||||||||||||
Allowance | $ | 53,566 | $ | 32,099 | $ | 58,740 | $ | 10,962 | $ | 17 | $ | 155,384 | |||||||||||||||||||||
Balance | $ | 2,424,369 | $ | 269,949 | $ | 4,298,508 | $ | 1,673,405 | $ | 3,676 | $ | 8,669,907 | |||||||||||||||||||||
Total allowance | $ | 56,296 | $ | 34,703 | $ | 66,739 | $ | 11,443 | $ | 17 | $ | 169,198 | |||||||||||||||||||||
Total balance | $ | 2,450,118 | $ | 301,459 | $ | 4,414,067 | $ | 1,688,934 | $ | 3,676 | $ | 8,858,254 | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | |||||||||||||||||||||||||||||||||
Allowance | $ | 2,519 | $ | 3,460 | $ | 6,584 | $ | 721 | $ | - | $ | 13,284 | |||||||||||||||||||||
Balance | $ | 31,968 | $ | 34,420 | $ | 114,544 | $ | 19,848 | $ | - | $ | 200,780 | |||||||||||||||||||||
Loans collectively evaluated for impairment | |||||||||||||||||||||||||||||||||
Allowance | $ | 62,584 | $ | 8,539 | $ | 78,169 | $ | 11,284 | $ | 29 | $ | 160,605 | |||||||||||||||||||||
Balance | $ | 2,266,756 | $ | 187,281 | $ | 3,908,507 | $ | 1,506,684 | $ | 14,555 | $ | 7,883,783 | |||||||||||||||||||||
Total allowance | $ | 65,103 | $ | 11,999 | $ | 84,753 | $ | 12,005 | $ | 29 | $ | 173,889 | |||||||||||||||||||||
Total balance | $ | 2,298,724 | $ | 221,701 | $ | 4,023,051 | $ | 1,526,532 | $ | 14,555 | $ | 8,084,563 | |||||||||||||||||||||
The following table details activity in the allowance for loan losses by portfolio segment for the three and nine months ended September 30, 2014, and September 30, 2013. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. | |||||||||||||||||||||||||||||||||
Three months ended September 30, 2014 and 2013 | |||||||||||||||||||||||||||||||||
Commercial | Real Estate Construction | Commercial Mortgage | Residential Mortgage Loans and | Installment | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||||||
Loans | Loans | Loans | Equity Lines | Loans | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
June 30, 2014 Ending Balance | $ | 63,239 | $ | 9,555 | $ | 83,395 | $ | 12,870 | $ | 18 | 169,077 | ||||||||||||||||||||||
Provision/(credit) for possible credit losses | (10,839 | ) | 25,116 | (17,950 | ) | (1,427 | ) | (1 | ) | (5,101 | ) | ||||||||||||||||||||||
Charge-offs | (252 | ) | - | (903 | ) | - | - | (1,155 | ) | ||||||||||||||||||||||||
Recoveries | 4,148 | 32 | 2,197 | - | - | 6,377 | |||||||||||||||||||||||||||
Net (charge-offs)/recoveries | 3,896 | 32 | 1,294 | - | - | 5,222 | |||||||||||||||||||||||||||
September 30, 2014 Ending Balance | $ | 56,296 | $ | 34,703 | $ | 66,739 | $ | 11,443 | $ | 17 | $ | 169,198 | |||||||||||||||||||||
June 30, 2013 Ending Balance | $ | 64,379 | $ | 13,755 | $ | 89,678 | $ | 11,892 | $ | 29 | $ | 179,733 | |||||||||||||||||||||
Provision/(credit) for possible credit losses | 2,121 | 1,660 | (5,710 | ) | 52 | 6 | (1,871 | ) | |||||||||||||||||||||||||
Charge-offs | (200 | ) | - | (394 | ) | (160 | ) | - | (754 | ) | |||||||||||||||||||||||
Recoveries | 436 | 1,236 | 2,514 | 158 | - | 4,344 | |||||||||||||||||||||||||||
Net (charge-offs)/recoveries | 236 | 1,236 | 2,120 | (2 | ) | - | 3,590 | ||||||||||||||||||||||||||
September 30, 2013 Ending Balance | $ | 66,736 | $ | 16,651 | $ | 86,088 | $ | 11,942 | $ | 35 | $ | 181,452 | |||||||||||||||||||||
Nine months ended September 30, 2014 and 2013 | |||||||||||||||||||||||||||||||||
Commercial | Real Estate Construction | Commercial Mortgage | Residential Mortgage Loans and | Installment | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||||||
Loans | Loans | Loans | Equity Lines | Loans | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
2014 Beginning Balance | $ | 65,103 | $ | 11,999 | $ | 84,753 | $ | 12,005 | $ | 29 | $ | 173,889 | |||||||||||||||||||||
Provision/(credit) for possible credit losses | (12,067 | ) | 24,460 | (20,991 | ) | (562 | ) | (12 | ) | (9,172 | ) | ||||||||||||||||||||||
Charge-offs | (7,592 | ) | (1,813 | ) | (3,327 | ) | - | - | (12,732 | ) | |||||||||||||||||||||||
Recoveries | 10,852 | 57 | 6,304 | - | - | 17,213 | |||||||||||||||||||||||||||
Net (charge-offs)/recoveries | 3,260 | (1,756 | ) | 2,977 | - | - | 4,481 | ||||||||||||||||||||||||||
September 30, 2014 Ending Balance | $ | 56,296 | $ | 34,703 | $ | 66,739 | $ | 11,443 | $ | 17 | $ | 169,198 | |||||||||||||||||||||
Reserve for impaired loans | $ | 2,730 | $ | 2,604 | $ | 7,999 | $ | 481 | $ | - | $ | 13,814 | |||||||||||||||||||||
Reserve for non-impaired loans | $ | 53,566 | $ | 32,099 | $ | 58,740 | $ | 10,962 | $ | 17 | $ | 155,384 | |||||||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 901 | $ | 668 | $ | 410 | $ | 39 | $ | - | $ | 2,018 | |||||||||||||||||||||
2013 Beginning Balance | $ | 66,101 | $ | 23,017 | $ | 82,473 | $ | 11,703 | $ | 28 | $ | 183,322 | |||||||||||||||||||||
Provision/(credit) for possible credit losses | 3,200 | (8,622 | ) | 935 | 780 | (4 | ) | (3,711 | ) | ||||||||||||||||||||||||
Charge-offs | (4,580 | ) | - | (3,425 | ) | (766 | ) | - | (8,771 | ) | |||||||||||||||||||||||
Recoveries | 2,015 | 2,256 | 6,105 | 225 | 11 | 10,612 | |||||||||||||||||||||||||||
Net (charge-offs)/recoveries | (2,565 | ) | 2,256 | 2,680 | (541 | ) | 11 | 1,841 | |||||||||||||||||||||||||
September 30, 2013 Ending Balance | $ | 66,736 | $ | 16,651 | $ | 86,088 | $ | 11,942 | $ | 35 | $ | 181,452 | |||||||||||||||||||||
Reserve for impaired loans | $ | 10,849 | $ | 5,691 | $ | 6,129 | $ | 693 | $ | - | $ | 23,362 | |||||||||||||||||||||
Reserve for non-impaired loans | $ | 55,887 | $ | 10,960 | $ | 79,959 | $ | 11,249 | $ | 35 | $ | 158,090 | |||||||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 953 | $ | 287 | $ | 799 | $ | 34 | $ | 1 | $ | 2,074 | |||||||||||||||||||||
Note_8_Commitments_and_Conting
Note 8 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
8. Commitments and Contingencies | |
The Company is involved in various litigation concerning transactions entered into in the normal course of business. Management, after consultation with legal counsel, does not believe that the resolution of such litigation will have a material effect upon its consolidated financial condition, results of operations, or liquidity taken as a whole. Although the Company establishes accruals for legal proceedings when information related to the loss contingencies represented by those matters indicates both that a loss is probable and that the amount of loss can be reasonably estimated, the Company does not have accruals for all legal proceedings where there is a risk of loss. In addition, amounts accrued may not represent the ultimate loss to the Company from the legal proceedings in question. Thus, ultimate losses may be higher or lower, and possibly significantly so, than the amounts accrued for legal loss contingencies. | |
In the normal course of business, the Company becomes a party to financial instruments with off-balance sheet risk to meet the financing needs of its customers. These financial instruments include commitments to extend credit in the form of loans, or through commercial or standby letters of credit and financial guarantees. These instruments represent varying degrees of exposure to risk in excess of the amounts included in the accompanying condensed consolidated balance sheets. The contractual or notional amount of these instruments indicates a level of activity associated with a particular class of financial instrument and is not a reflection of the level of expected losses, if any. |
Note_9_Borrowed_Funds
Note 9 - Borrowed Funds | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Debt Disclosure [Text Block] | ' | ||||||||||||||||
9. Borrowed Funds | |||||||||||||||||
Securities Sold Under Agreements to Repurchase. Securities sold under agreements to repurchase were $550.0 million with a weighted average rate of 3.78% at September 30, 2014, compared to $800.0 million with a weighted average rate of 3.87% at December 31, 2013. In the first nine months of 2014, the Company prepaid securities sold under agreements to repurchase totaling $100 million with a weighted average rate of 3.5% and incurred prepayment penalties of $3.4 million. In the first nine months of 2013, the Company prepaid securities sold under agreements to repurchase totaling $300.0 million with a weighted average rate of 3.97% and incurred prepayment penalties of $15.7 million. Four floating-to-fixed rate agreements totaling $200.0 million have initial floating rates for a period of time ranging from six months to one year, with floating rates of three-month LIBOR rate minus 340 basis points. Thereafter, the rates are fixed for the remainder of the term, with interest rates ranging from 4.89% to 5.07%. After the initial floating rate term, the counterparties have the right to terminate the transaction at par at the fixed rate reset date and quarterly thereafter. Three fixed-to-floating rate agreements totaling $150.0 million have initial fixed rates ranging from 1.00% to 3.50% with initial fixed rate terms ranging from six months to 18 months. For the remaining term, the rates float at 8% minus the three-month LIBOR rate with a maximum rate of 3.50% and a minimum rate of 0.0%. After the initial fixed rate term, the counterparties have the right to terminate the transaction at par at the floating rate reset date and quarterly thereafter. The table below provides summary data for the $350.0 million of callable securities sold under agreements to repurchase as of September 30, 2014: | |||||||||||||||||
(Dollars in millions) | Fixed-to-floating | Floating-to-fixed | Total | ||||||||||||||
Rate type | Float Rate | Fixed Rate | |||||||||||||||
Rate index | 8% minus 3 month LIBOR | ||||||||||||||||
Maximum rate | 3.5 | % | 3.5 | % | |||||||||||||
Minimum rate | 0 | % | 0 | % | |||||||||||||
No. of agreements | 2 | 1 | 4 | 7 | |||||||||||||
Amount | $ | 100 | $ | 50 | $ | 200 | $ | 350 | |||||||||
Weighted average rate | 3.5 | % | 3.5 | % | 5 | % | 4.36 | % | |||||||||
Final maturity | 2014 | 2015 | 2017 | ||||||||||||||
The table below provides summary data for non-callable fixed rate securities sold under agreements to repurchase as of September 30, 2014: | |||||||||||||||||
No. of | Amount | Weighted Average | |||||||||||||||
Maturity | Agreements | (In thousands) | Interest Rate | ||||||||||||||
1 year to 3 years | 2 | $ | 100,000 | 2.71 | % | ||||||||||||
3 years to 5 years | 2 | 100,000 | 2.86 | % | |||||||||||||
Total | 4 | $ | 200,000 | 2.78 | % | ||||||||||||
These transactions are accounted for as collateralized financing transactions and recorded at the amounts at which the securities were sold. The Company may have to provide additional collateral for the repurchase agreements, as necessary. The underlying collateral pledged for the repurchase agreements consists of U.S. Treasury securities, U.S. government agency securities, and mortgage-backed securities with a fair value of $629.3 million as of September 30, 2014, and $906.1 million as of December 31, 2013. | |||||||||||||||||
Advances from the FHLB. Advances from the FHLB were $555.0 million with weighted average rate of 0.12% at September 30, 2014, compared to $521.2 million with weighted average rate of 0.17% at December 31, 2013. The following relates to the outstanding advances at September 30, 2014, and December 31, 2013: | |||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||
Amount | Weighted Average | Amount | Weighted Average | ||||||||||||||
Maturity | (In thousands) | Interest Rate | (In thousands) | Interest Rate | |||||||||||||
Within 90 days | $ | 530,000 | 0.07 | % | $ | 475,000 | 0.06 | % | |||||||||
4 - 5 years | 25,000 | 1.13 | % | 46,200 | 1.24 | % | |||||||||||
$ | 555,000 | 0.12 | % | $ | 521,200 | 0.17 | % | ||||||||||
Note_10_Income_Taxes
Note 10 - Income Taxes | 9 Months Ended |
Sep. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
10.Income Taxes | |
Income tax expense totaled $60.9 million, or an effective tax rate of 37.3%, for the first nine months of 2014, compared to an income tax expense of $52.5 million, or an effective tax rate of 36.5%, for the same period a year ago. The effective tax rate includes the impact of the utilization of low income housing tax credits and recognition of other tax credits for both years. | |
As of December 31, 2013, the Company had income tax refunds receivable of $8.6 million. These income tax receivables are included in other assets in the accompanying condensed consolidated balance sheets. | |
The Company’s tax returns are open for audits by the Internal Revenue Service back to 2011 and by the California Franchise Tax Board back to 2003. The Company is under audit by the California Franchise Tax Board for the years 2003 to 2007. As the Company is presently under audit by a number of tax authorities, it is reasonably possible that unrecognized tax benefits could change significantly over the next twelve months. The Company does not expect that any such changes would have a material impact on its annual effective tax rate. |
Note_11_Fair_Value_Measurement
Note 11 - Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair Value, Measurement Inputs, Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||
11. Fair Value Measurements | |||||||||||||||||||||||||||||||||
The Company adopted ASC Topic 820 on January 1, 2008, and determined the fair values of our financial instruments based on the following: | |||||||||||||||||||||||||||||||||
● | Level 1 - Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||||||||||||||
● | Level 2 - Observable prices in active markets for similar assets or liabilities; prices for identical or similar assets or liabilities in markets that are not active; directly observable market inputs for substantially the full term of the asset and liability; market inputs that are not directly observable but are derived from or corroborated by observable market data. | ||||||||||||||||||||||||||||||||
● | Level 3 – Unobservable inputs based on the Company’s own judgment about the assumptions that a market participant would use. | ||||||||||||||||||||||||||||||||
The Company uses the following methodologies to measure the fair value of its financial assets and liabilities on a recurring basis: | |||||||||||||||||||||||||||||||||
Securities Available for Sale. For certain actively traded agency preferred stocks, mutual funds, and U.S. Treasury securities, the Company measures the fair value based on quoted market prices in active exchange markets at the reporting date, a Level 1 measurement. The Company also measures securities by using quoted market prices for similar securities or dealer quotes, a Level 2 measurement. This category generally includes U.S. Government agency securities, state and municipal securities, mortgage-backed securities (“MBS”), commercial MBS, collateralized mortgage obligations, asset-backed securities, corporate bonds and trust preferred securities. | |||||||||||||||||||||||||||||||||
Trading Securities. The Company measures the fair value of trading securities based on quoted market prices in active exchange markets at the reporting date, a Level 1 measurement. The Company also measures the fair value for other trading securities based on quoted market prices for similar securities or dealer quotes, a Level 2 measurement. | |||||||||||||||||||||||||||||||||
Warrants. The Company measures the fair value of warrants based on unobservable inputs based on assumption and management judgment, a Level 3 measurement. | |||||||||||||||||||||||||||||||||
Currency Option and Foreign Exchange Contracts. The Company measures the fair value of currency option and foreign exchange contracts based on dealer quotes on a recurring basis, a Level 2 measurement. | |||||||||||||||||||||||||||||||||
Interest Rate Swaps. Fair value of interest rate swaps is derived from third party models with observable market data, a Level 2 measurement. | |||||||||||||||||||||||||||||||||
The valuation techniques for the assets and liabilities valued on a nonrecurring basis are as follows: | |||||||||||||||||||||||||||||||||
Impaired Loans. The Company does not record loans at fair value on a recurring basis. However, from time to time, nonrecurring fair value adjustments to collateral dependent impaired loans are recorded based on either the current appraised value of the collateral, a Level 2 measurement, or management’s judgment and estimation of value reported on older appraisals that are then adjusted based on recent market trends, a Level 3 measurement. | |||||||||||||||||||||||||||||||||
Goodwill. The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC Topic 350. The two-step impairment testing process, if needed, begins by assigning net assets and goodwill to the two reporting units—Commercial Lending and Retail Banking. The Company then completes “step one” of the impairment test by comparing the fair value of each reporting unit (as determined based on the discussion below) with the recorded book value (or “carrying amount”) of its net assets, with goodwill included in the computation of the carrying amount. If the fair value of a reporting unit exceeds its carrying amount, goodwill of that reporting unit is not considered impaired, and “step two” of the impairment test is not necessary. If the carrying amount of a reporting unit exceeds its fair value, step two of the impairment test is performed to determine the amount of impairment. Step two of the impairment test compares the carrying amount of the reporting unit’s goodwill to the “implied fair value” of that goodwill. The implied fair value of goodwill is computed by assuming that all assets and liabilities of the reporting unit would be adjusted to the current fair value, with the offset as an adjustment to goodwill. This adjusted goodwill balance is the implied fair value used in step two. An impairment charge is recognized for the amount by which the carrying amount of goodwill exceeds its implied fair value. In connection with the determination of fair value, certain data and information is utilized, including earnings forecasts at the reporting unit level for the next four years. Other key assumptions include terminal values based on future growth rates and discount rates for valuing the cash flows, which have inputs for the risk-free rate, market risk premium, and adjustments to reflect inherent risk and required market returns. Because of the significance of unobservable inputs in the valuation of goodwill impairment, goodwill subject to nonrecurring fair value adjustments is classified as a Level 3 measurement. | |||||||||||||||||||||||||||||||||
Core Deposit Intangibles. Core deposit intangibles is initially recorded at fair value based on a valuation of the core deposits acquired and is amortized over its estimated useful life to its residual value in proportion to the economic benefits consumed. The Company assesses the recoverability of this intangible asset on a nonrecurring basis using the core deposits remaining at the assessment date and the fair value of cash flows expected to be generated from the core deposits, a Level 3 measurement. | |||||||||||||||||||||||||||||||||
Other Real Estate Owned. Real estate acquired in the settlement of loans is initially recorded at fair value based on the appraised value of the property on the date of transfer, less estimated costs to sell, a Level 2 measurement. From time to time, nonrecurring fair value adjustments are made to other real estate owned based on the current updated appraised value of the property, also a Level 2 measurement, or management’s judgment and estimation of value reported on older appraisals that are then adjusted based on recent market trends, a Level 3 measurement. | |||||||||||||||||||||||||||||||||
Investments in Venture Capital. The Company periodically reviews its investments in venture capital for other-than-temporary impairment on a nonrecurring basis. Investments in venture capital were written down to their fair value based on available financial reports from venture capital partnerships and management’s judgment and estimation, a Level 3 measurement. | |||||||||||||||||||||||||||||||||
Equity Investments. The Company records equity investments at fair value on a nonrecurring basis based on quoted market prices in active exchange markets at the reporting date, a Level 1 measurement. | |||||||||||||||||||||||||||||||||
The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of September 30, 2014, and December 31, 2013: | |||||||||||||||||||||||||||||||||
30-Sep-14 | Fair Value Measurements Using | Total at | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||||||||||
Assets | (In thousands) | ||||||||||||||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 540,088 | $ | - | $ | - | $ | 540,088 | |||||||||||||||||||||||||
Mortgage-backed securities | - | 683,324 | - | 683,324 | |||||||||||||||||||||||||||||
Collateralized mortgage obligations | - | 46 | - | 46 | |||||||||||||||||||||||||||||
Corporate debt securities | - | 94,337 | - | 94,337 | |||||||||||||||||||||||||||||
Mutual funds | 5,817 | - | - | 5,817 | |||||||||||||||||||||||||||||
Preferred stock of government sponsored entities | - | 9,252 | - | 9,252 | |||||||||||||||||||||||||||||
Other equity securities | 7,228 | - | - | 7,228 | |||||||||||||||||||||||||||||
Total securities available-for-sale | 553,133 | 786,959 | - | 1,340,092 | |||||||||||||||||||||||||||||
Warrants | - | - | 12 | 12 | |||||||||||||||||||||||||||||
Interest rate swaps | - | 442 | - | 442 | |||||||||||||||||||||||||||||
Foreign exchange contracts | - | 1,936 | - | 1,936 | |||||||||||||||||||||||||||||
Total assets | $ | 553,133 | $ | 789,337 | $ | 12 | $ | 1,342,482 | |||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | - | $ | 280 | $ | - | $ | 280 | |||||||||||||||||||||||||
Foreign exchange contracts | - | 4,437 | - | 4,437 | |||||||||||||||||||||||||||||
Total liabilities | $ | - | $ | 4,717 | $ | - | $ | 4,717 | |||||||||||||||||||||||||
31-Dec-13 | Fair Value Measurements Using | Total at | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | ||||||||||||||||||||||||||||||
Assets | (In thousands) | ||||||||||||||||||||||||||||||||
Securities available-for-sale | |||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 460,193 | $ | - | $ | - | $ | 460,193 | |||||||||||||||||||||||||
Mortgage-backed securities | - | 952,815 | - | 952,815 | |||||||||||||||||||||||||||||
Collateralized mortgage obligations | - | 6,106 | - | 6,106 | |||||||||||||||||||||||||||||
Asset-backed securities | - | 123 | - | 123 | |||||||||||||||||||||||||||||
Corporate debt securities | - | 150,304 | - | 150,304 | |||||||||||||||||||||||||||||
Mutual funds | 5,724 | - | - | 5,724 | |||||||||||||||||||||||||||||
Preferred stock of government sponsored entities | - | 11,403 | - | 11,403 | |||||||||||||||||||||||||||||
Total securities available-for-sale | 465,917 | 1,120,751 | - | 1,586,668 | |||||||||||||||||||||||||||||
Trading securities | - | 4,936 | - | 4,936 | |||||||||||||||||||||||||||||
Warrants | - | - | 30 | 30 | |||||||||||||||||||||||||||||
Foreign exchange contracts | - | 6,182 | - | 6,182 | |||||||||||||||||||||||||||||
Total assets | $ | 465,917 | $ | 1,131,869 | $ | 30 | $ | 1,597,816 | |||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||
Foreign exchange contracts | $ | - | $ | 6,140 | $ | - | $ | 6,140 | |||||||||||||||||||||||||
Total liabilities | $ | - | $ | 6,140 | $ | - | $ | 6,140 | |||||||||||||||||||||||||
The Company measured the fair value of its warrants on a recurring basis using significant unobservable inputs. The fair value of warrants was $12,000 at September 30, 2014, compared to $30,000 at December 31, 2013. The fair value adjustment of warrants was included in other operating income in the third quarter of 2014. The significant unobservable inputs in the Black-Scholes option pricing model for the fair value of warrants are their expected life ranging from 1 to 4 years, risk-free interest rate from 0.59% to 1.43%, and stock volatility from 9.4% to 13.0%. | |||||||||||||||||||||||||||||||||
For financial assets measured at fair value on a nonrecurring basis that were still reflected in the condensed consolidated balance sheet at September 30, 2014, the following tables provide the level of valuation assumptions used to determine each adjustment, the carrying value of the related individual assets as of September 30, 2014, and December 31, 2013, and the total losses/(gains) for the periods indicated: | |||||||||||||||||||||||||||||||||
30-Sep-14 | Total Losses / (Gains) | ||||||||||||||||||||||||||||||||
Fair Value Measurements Using | Total at | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | 30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||
Impaired loans by type: | |||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | - | $ | 4,255 | $ | 4,255 | $ | - | $ | - | $ | 17 | $ | 536 | |||||||||||||||||
Commercial mortgage loans | - | - | 24,974 | 24,974 | 515 | 394 | 515 | 459 | |||||||||||||||||||||||||
Construction loans | - | - | 12,773 | 12,773 | - | - | - | - | |||||||||||||||||||||||||
Residential mortgage loans and equity lines | - | - | 12,507 | 12,507 | 32 | 160 | 32 | 191 | |||||||||||||||||||||||||
Total impaired loans | - | - | 54,509 | 54,509 | 547 | 554 | 564 | 1,186 | |||||||||||||||||||||||||
Other real estate owned (1) | - | 14,340 | 4,110 | 18,450 | (48 | ) | 111 | 277 | (1,267 | ) | |||||||||||||||||||||||
Investments in venture capital | - | - | 5,698 | 5,698 | 49 | 84 | 317 | 295 | |||||||||||||||||||||||||
Total assets | $ | - | $ | 14,340 | $ | 64,317 | $ | 78,657 | $ | 548 | $ | 749 | $ | 1,158 | $ | 214 | |||||||||||||||||
(1) Other real estate owned balance of $29.0 million in the condensed consolidated balance sheet is net of estimated disposal costs. | |||||||||||||||||||||||||||||||||
31-Dec-13 | Total Losses / (Gains) | ||||||||||||||||||||||||||||||||
Fair Value Measurements Using | Total at | Twelve Months Ended | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | 31-Dec-13 | 31-Dec-12 | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||
Impaired loans by type: | |||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | - | $ | 7,584 | $ | 7,584 | $ | 5,731 | $ | - | |||||||||||||||||||||
Commercial mortgage loans | - | - | 29,001 | 29,001 | 125 | 440 | |||||||||||||||||||||||||||
Construction- residential | - | - | 500 | 500 | - | - | |||||||||||||||||||||||||||
Construction- other | - | - | 15,363 | 15,363 | - | 65 | |||||||||||||||||||||||||||
Residential mortgage loans and equity lines | - | - | 14,236 | 14,236 | 213 | 605 | |||||||||||||||||||||||||||
Land loans | - | - | 29 | 29 | - | 162 | |||||||||||||||||||||||||||
Total impaired loans | - | - | 66,713 | 66,713 | 6,069 | 1,272 | |||||||||||||||||||||||||||
Other real estate owned (1) | - | 13,248 | 26,498 | 39,746 | (3,134 | ) | 10,904 | ||||||||||||||||||||||||||
Investments in venture capital | - | - | 8,900 | 8,900 | 409 | 309 | |||||||||||||||||||||||||||
Equity investments | 642 | - | - | 642 | - | 181 | |||||||||||||||||||||||||||
Total assets | $ | 642 | $ | 13,248 | $ | 102,111 | $ | 116,001 | $ | 3,344 | $ | 12,666 | |||||||||||||||||||||
(1) Other real estate owned balance of $53.0 million in the consolidated balance sheet is net of estimated disposal costs. | |||||||||||||||||||||||||||||||||
The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans was primarily based on the appraised value of collateral adjusted by estimated sales cost and commissions. The Company generally obtains new appraisal reports every nine months. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from 55% in the case of accounts receivable collateral to 65% in the case of inventory collateral. | |||||||||||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of loans held for sale was primarily based on the quoted price or sale price adjusted by estimated sales cost and commissions. The significant unobservable inputs used in the fair value measurement of other real estate owned (“OREO”) was primarily based on the appraised value of OREO adjusted by estimated sales cost and commissions. | |||||||||||||||||||||||||||||||||
The Company applies estimated sales cost and commissions ranging from 3% to 6% to collateral value of impaired loans, quoted price, or loan sale price of loans held for sale, and appraised value of OREO. |
Note_12_Fair_Value_of_Financia
Note 12 - Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ||||||||||||||||
12. Fair Value of Financial Instruments | |||||||||||||||||
The following methods and assumptions were used to estimate the fair value of each class of financial instruments. | |||||||||||||||||
Cash and Cash Equivalents. For cash and cash equivalents, the carrying amount was assumed to be a reasonable estimate of fair value, a Level 1 measurement. | |||||||||||||||||
Short-term Investments. For short-term investments, the carrying amount was assumed to be a reasonable estimate of fair value, a Level 1 measurement. | |||||||||||||||||
Securities Purchased under Agreements to Resell. The fair value of securities purchased under agreements to resell is based on dealer quotes, a Level 2 measurement. | |||||||||||||||||
Securities. For securities, including securities held-to-maturity, available-for-sale, and for trading, fair values were based on quoted market prices at the reporting date. If a quoted market price was not available, fair value was estimated using quoted market prices for similar securities or dealer quotes. For certain actively traded agency preferred stocks and U.S. Treasury securities, the Company measures the fair value based on quoted market prices in active exchange markets at the reporting date, a Level 1 measurement. The Company also measures securities by using quoted market prices for similar securities or dealer quotes, a Level 2 measurement. This category generally includes U.S. Government agency securities, state and municipal securities, mortgage-backed securities (“MBS”), commercial MBS, collateralized mortgage obligations, asset-backed securities, and corporate bonds. | |||||||||||||||||
Loans. Fair values were estimated for portfolios of loans with similar financial characteristics. Each loan category was further segmented into fixed and adjustable rate interest terms and by performing and non-performing categories. | |||||||||||||||||
The fair value of performing loans was calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan, a Level 3 measurement. | |||||||||||||||||
The fair value of impaired loans was calculated based on the net realizable fair value of the collateral or the observable market price of the most recent sale or quoted price from loans held for sale. The Company does not record loans at fair value on a recurring basis. Nonrecurring fair value adjustments to collateral dependent impaired loans are recorded based on the current appraised value of the collateral, a Level 2 measurement. | |||||||||||||||||
Deposit Liabilities. The fair value of demand deposits, savings accounts, and certain money market deposits was assumed to be the amount payable on demand at the reporting date. The fair value of fixed-maturity certificates of deposit was estimated using the rates currently offered for deposits with similar remaining maturities, a Level 3 measurement. | |||||||||||||||||
Securities Sold under Agreements to Repurchase. The fair value of securities sold under agreements to repurchase is based on dealer quotes, a Level 2 measurement. | |||||||||||||||||
Advances from Federal Home Loan Bank (“FHLB”). The fair value of the advances is based on quotes from the FHLB to settle the advances, a Level 2 measurement. | |||||||||||||||||
Other Borrowings. This category includes borrowings from other financial institutions. The fair value of other borrowings is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk, a Level 3 measurement. | |||||||||||||||||
Long-term Debt. The fair value of long-term debt is estimated based on the quoted market prices or dealer quotes, a Level 2 measurement. | |||||||||||||||||
Currency Option and Foreign Exchange Contracts. The Company measures the fair value of currency option and foreign exchange contracts based on dealer quotes, a Level 2 measurement. | |||||||||||||||||
Interest Rate Swaps. Fair value of interest rate swaps is derived from third party models with observable market data, a Level 2 measurement. | |||||||||||||||||
Off-Balance-Sheet Financial Instruments. The fair value of commitments to extend credit, standby letters of credit, and financial guarantees written were estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. The fair value of guarantees and letters of credit was based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. The fair value of off-balance-sheet financial instruments was based on the assumptions that a market participant would use, a Level 3 measurement. | |||||||||||||||||
Fair value was estimated in accordance with ASC Topic 825. Fair value estimates were made at specific points in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Bank’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Bank’s financial instruments, fair value estimates were based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates were subjective in nature and involved uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. | |||||||||||||||||
The following table presents the estimated fair value of financial instruments as of September 30, 2014, and as of December 31, 2013: | |||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||
Carrying | Carrying | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 200,302 | $ | 200,302 | $ | 153,747 | $ | 153,747 | |||||||||
Short-term investments | 597,747 | 597,747 | 516,938 | 516,938 | |||||||||||||
Securities available-for-sale | 1,340,092 | 1,340,092 | 1,586,668 | 1,586,668 | |||||||||||||
Trading securities | - | - | 4,936 | 4,936 | |||||||||||||
Loans, net | 8,676,153 | 8,576,545 | 7,897,187 | 7,760,490 | |||||||||||||
Investment in Federal Home Loan Bank stock | 34,090 | 34,090 | 25,000 | 25,000 | |||||||||||||
Warrants | 12 | 12 | 30 | 30 | |||||||||||||
Notional | Notional | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Option contracts | $ | - | $ | - | $ | 200 | $ | 0 | |||||||||
Foreign exchange contracts | 183,753 | 1,936 | 267,644 | 6,182 | |||||||||||||
Interest rate swaps | 147,358 | 442 | - | - | |||||||||||||
Financial Liabilities | Carrying | Carrying | |||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Deposits | $ | 8,694,669 | $ | 8,692,118 | $ | 7,981,305 | $ | 7,977,639 | |||||||||
Securities sold under agreements to repurchase | 550,000 | 576,670 | 800,000 | 852,835 | |||||||||||||
Advances from Federal Home Loan Bank | 555,000 | 555,000 | 521,200 | 521,560 | |||||||||||||
Other borrowings | 18,882 | 15,853 | 19,062 | 16,107 | |||||||||||||
Long-term debt | 119,136 | 59,425 | 121,136 | 58,970 | |||||||||||||
Notional | Notional | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Foreign exchange contracts | $ | 201,240 | $ | 4,437 | $ | 236,350 | $ | 6,140 | |||||||||
Interest rate swaps | 119,136 | 280 | - | - | |||||||||||||
Notional | Notional | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||
Commitments to extend credit | $ | 1,839,039 | $ | (3,160 | ) | $ | 1,858,669 | $ | (2,187 | ) | |||||||
Standby letters of credit | 54,304 | (331 | ) | 45,058 | (205 | ) | |||||||||||
Other letters of credit | 49,623 | (29 | ) | 54,098 | (34 | ) | |||||||||||
Bill of lading guarantees | 51 | - | 80 | - | |||||||||||||
The following tables present the level in the fair value hierarchy for the estimated fair values of only financial instruments that are not already included on the condensed consolidated balance sheets at fair value as of September 30, 2014, and December 31, 2013. | |||||||||||||||||
30-Sep-14 | |||||||||||||||||
Estimated | |||||||||||||||||
Fair Value | |||||||||||||||||
Measurements | Level 1 | Level 2 | Level 3 | ||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 200,302 | $ | 200,302 | $ | - | $ | - | |||||||||
Short-term investments | 597,747 | 597,747 | - | - | |||||||||||||
Securities available-for-sale | 1,340,092 | 553,133 | 786,959 | - | |||||||||||||
Loans, net | 8,576,545 | - | - | 8,576,545 | |||||||||||||
Investment in Federal Home Loan Bank stock | 34,090 | - | 34,090 | - | |||||||||||||
Warrants | 12 | - | - | 12 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 8,692,118 | - | - | 8,692,118 | |||||||||||||
Securities sold under agreements to repurchase | 576,670 | - | 576,670 | - | |||||||||||||
Advances from Federal Home Loan Bank | 555,000 | - | 555,000 | - | |||||||||||||
Other borrowings | 15,853 | - | - | 15,853 | |||||||||||||
Long-term debt | 59,425 | - | 59,425 | - | |||||||||||||
31-Dec-13 | |||||||||||||||||
Estimated | |||||||||||||||||
Fair Value | |||||||||||||||||
Measurements | Level 1 | Level 2 | Level 3 | ||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 153,747 | $ | 153,747 | $ | - | $ | - | |||||||||
Short-term investments | 516,938 | 516,938 | - | - | |||||||||||||
Securities available-for-sale | 1,586,668 | 465,917 | 1,120,751 | - | |||||||||||||
Trading securities | 4,936 | - | 4,936 | - | |||||||||||||
Loans, net | 7,760,490 | - | - | 7,760,490 | |||||||||||||
Investment in Federal Home Loan Bank stock | 25,000 | - | 25,000 | - | |||||||||||||
Warrants | 30 | - | - | 30 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 7,977,639 | - | - | 7,977,639 | |||||||||||||
Securities sold under agreements to repurchase | 852,835 | - | 852,835 | - | |||||||||||||
Advances from Federal Home Loan Bank | 521,560 | - | 521,560 | - | |||||||||||||
Other borrowings | 16,107 | - | - | 16,107 | |||||||||||||
Long-term debt | 58,970 | - | 58,970 | - | |||||||||||||
Note_13_Goodwill_and_Goodwill_
Note 13 - Goodwill and Goodwill Impairment | 9 Months Ended |
Sep. 30, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Goodwill and Intangible Assets Disclosure [Text Block] | ' |
13. Goodwill and Goodwill Impairment | |
The Company’s policy is to assess goodwill for impairment at the reporting unit level on an annual basis or between annual assessments if a triggering event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Impairment is the condition that exists when the carrying amount of goodwill exceeds its implied fair value. | |
The Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC Topic 350. The two-step impairment testing process, if needed, begins by assigning net assets and goodwill to our two reporting units—Commercial Lending and Retail Banking. The Company then completes “step one” of the impairment test by comparing the fair value of each reporting unit (as determined based on the discussion below) with the recorded book value (or “carrying amount”) of its net assets, with goodwill included in the computation of the carrying amount. If the fair value of a reporting unit exceeds its carrying amount, goodwill of that reporting unit is not considered impaired, and “step two” of the impairment test is not necessary. If the carrying amount of a reporting unit exceeds its fair value, step two of the impairment test is performed to determine the amount of impairment. Step two of the impairment test compares the carrying amount of the reporting unit’s goodwill to the “implied fair value” of that goodwill. The implied fair value of goodwill is computed by assuming that all assets and liabilities of the reporting unit would be adjusted to the current fair value, with the offset as an adjustment to goodwill. This adjusted goodwill balance is the implied fair value used in step two. An impairment charge is recognized for the amount by which the carrying amount of goodwill exceeds its implied fair value. | |
At September 30, 2014, the Company’s market capitalization was above book value and there was no triggering event that required the Company to assess goodwill for impairment as of an interim date. |
Note_14_Financial_Derivatives
Note 14 - Financial Derivatives | 9 Months Ended |
Sep. 30, 2014 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | ' |
14.Financial Derivatives | |
It is the policy of the Company not to speculate on the future direction of interest rates. However, the Company enters into financial derivatives in order to seek mitigation of exposure to interest rate risks related to our interest-earning assets and interest-bearing liabilities. We believe that these transactions, when properly structured and managed, may provide a hedge against inherent interest rate risk in the Company’s assets or liabilities and against risk in specific transactions. In such instances, the Company may enter into interest rate swap contracts or other types of financial derivatives. Prior to considering any hedging activities, we seek to analyze the costs and benefits of the hedge in comparison to other viable alternative strategies. All hedges must be approved by the Bank’s Investment Committee. | |
The Company follows ASC Topic 815 that establishes accounting and reporting standards for financial derivatives, including certain financial derivatives embedded in other contracts, and hedging activities. It requires the recognition of all financial derivatives as assets or liabilities in the Company’s consolidated balance sheet and measurement of those financial derivatives at fair value. The accounting treatment of changes in fair value is dependent upon whether or not a financial derivative is designated as a hedge and, if so, the type of hedge. Fair value is determined using third-party models with observable market data. For derivatives designated as cash flow hedges, changes in fair value are recognized in other comprehensive income and are reclassified to earnings when the hedged transaction is reflected in earnings. For derivatives designated as fair value hedges, changes in the fair value of the derivatives are reflected in current earnings, together with changes in the fair value of the related hedged item if there is a highly effective correlation between changes in the fair value of the interest rate swaps and changes in the fair value of the underlying asset or liability that is intended to be hedged. If there is not a highly effective correlation between changes in the fair value of the interest rate swap and changes in the fair value of the underlying asset or liability that is intended to be hedged, then only the changes in the fair value of the interest rate swaps are reflected in the Company’s consolidated financial statements. | |
In May 2014, the Bancorp entered into five interest rate swap contracts in the notional amount of $119.1 million for a period of ten years. The objective of these interest rate swap contracts, which were designated as hedging instruments in cash flow hedges, was to hedge the quarterly interest payments on the Bancorp’s $119.1 million of junior subordinated debentures that had been issued to five trusts throughout the ten-year period beginning in June 2014 and ending in June 2024, from the risk of variability of these payments resulting from changes in the three-month LIBOR interest rate. The Bancorp pays a weighted average fixed interest rate of 2.61% and receives a variable interest rate of three-month LIBOR at a weighted average rate of 0.23%. As of September 30, 2014, the notional amount of cash flow interest rate swaps was $119.1 million and their unrealized loss of $163,000, net of taxes, was included in other comprehensive income. The amount of periodic net settlement of interest rate swaps included in interest expense was $723,000 for the three months ended and $824,000 for the nine months ended September 30, 2014. | |
In June 2014, the Bank entered into ten interest rate swap contracts in the notional amount of $148.1 million for various terms from four to eight years. The Bank entered into these interest rate swap contracts that are matched to individual fixed-rate commercial real estate loans in the Bank’s loan portfolio. These contracts have been designated as hedging instruments to hedge the risk of changes in the fair value of the underlying commercial real estate loan due to changes in interest rates. The swap contracts are structured so that the notional amounts reduce over time to match the contractual amortization of the underlying loan and allow prepayments with the same pre-payment penalty amounts as the related loan. The Bank pays a weighted average fixed rate of 4.67% and receives a variable rate at one month LIBOR rate plus a weighted average spread of 298 basis points, or at a weighted average rate of 3.13%. As of September 30, 2014, the notional amount of fair value interest rate swaps was $147.4 million and their unrealized gain of $442,000 was included in other non-interest income. The amount of periodic net settlement of interest rate swaps reducing interest income was $580,000 for the three months ended and $606,000 for the nine months ended September 30, 2014. As of September 30, 2014, the ineffective portion of these interest rate swaps was not significant. | |
Interest rate swap contracts involve the risk of dealing with institutional derivative counterparties and their ability to meet contractual terms. Institutional counterparties must have a strong credit profile and be approved by the Company’s Board of Directors. The Company’s credit exposure on interest rate swaps is limited to the net favorable value and interest payments of all swaps by each counterparty. Credit exposure may be reduced by the amount of collateral pledged by the counterparty. The Bancorp’s interest rate swaps have been assigned by the counterparties to a derivatives clearing organization and daily margin is indirectly maintained with the derivatives clearing organization. Cash posted as collateral by the Bancorp related to derivative contracts totaled $4.3 million as of September 30, 2014. | |
The Company enters into foreign exchange forward contracts and foreign currency option contracts with various counterparties to mitigate the risk of fluctuations in foreign currency exchange rates for foreign exchange certificates of deposit, foreign exchange contracts, or foreign currency option contracts entered into with our clients. These contracts are not designated as hedging instruments and are recorded at fair value in our condensed consolidated balance sheets. Changes in the fair value of these contracts as well as the related foreign exchange certificates of deposit, foreign exchange contracts, or foreign currency option contracts are recognized immediately in net income as a component of non-interest income. Period end gross positive fair values are recorded in other assets and gross negative fair values are recorded in other liabilities. At September 30, 2014, no option contracts were outstanding. Spot and forward contracts in the total notional amount of $183.8 million had a positive fair value of $1.9 million at September 30, 2014. Spot and forward contracts in the total notional amount of $201.2 million had a negative fair value of $4.4 million at September 30, 2014. At December 31, 2013, the notional amount of option contracts totaled $200,000 with a net positive fair value of $83. Spot and forward contracts in the total notional amount of $267.6 million had a positive fair value of $6.2 million at December 31, 2013. Spot and forward contracts in the total notional amount of $236.3 million had a negative fair value of $6.1 million at December 31, 2013. |
Note_15_Balance_Sheet_Offsetti
Note 15 - Balance Sheet Offsetting | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||||||
Supplemental Balance Sheet Disclosures [Text Block] | ' | ||||||||||||||||||||||||
15.Balance Sheet Offsetting | |||||||||||||||||||||||||
Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may be eligible for offset in the consolidated balance sheet and/or subject to master netting arrangements or similar agreements. The Company’s securities sold with agreement to repurchase and derivative transactions with upstream financial institution counterparties are generally executed under International Swaps and Derivative Association master agreements which include “right of set-off” provisions. In such cases there is generally a legally enforceable right to offset recognized amounts and there may be an intention to settle such amounts on a net basis. Nonetheless, the Company does not generally offset such financial instruments for financial reporting purposes. | |||||||||||||||||||||||||
Financial instruments that are eligible for offset in the condensed consolidated balance sheets, as of September 30, 2014, and December 31, 2013, are presented in the following table: | |||||||||||||||||||||||||
Gross Amounts Not Offset in the Balance Sheet | |||||||||||||||||||||||||
Gross Amounts of | Gross Amounts | Net Amounts | Financial | Collateral | Net Amount | ||||||||||||||||||||
Recognized | Offset in the Balance | Presented in the | Instruments | Posted | |||||||||||||||||||||
Sheet | Balance Sheet | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Derivatives | $ | 442 | $ | - | $ | 442 | $ | - | $ | (442 | ) | $ | - | ||||||||||||
Liabilities: | |||||||||||||||||||||||||
Securities sold under agreements to repurchase | $ | 550,000 | $ | - | $ | 550,000 | $ | - | $ | (550,000 | ) | $ | - | ||||||||||||
Derivatives | $ | 280 | $ | - | $ | 280 | $ | - | $ | (280 | ) | $ | - | ||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Securities sold under agreements to repurchase | $ | 800,000 | $ | - | $ | 800,000 | $ | - | $ | (800,000 | ) | $ | - | ||||||||||||
Note_16_Stockholders_Equity
Note 16 - Stockholders' Equity | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ||||||||||||||||||||||||
Stockholders' Equity Note Disclosure [Text Block] | ' | ||||||||||||||||||||||||
16.Stockholders’ Equity | |||||||||||||||||||||||||
Total equity was $1.57 billion at September 30, 2014, an increase of $111.4 million, or 7.6%, from $1.46 billion at December 31, 2013, primarily due to increases in net income of $102.3 million and increases in other comprehensive income of $20.9 million offset by common stock cash dividends of $15.1 million. | |||||||||||||||||||||||||
Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three months and nine months ended September 30, 2014, and September 30, 2013, was as follows: | |||||||||||||||||||||||||
Three months ended September 30, 2014 | Three months ended September 30, 2013 | ||||||||||||||||||||||||
Pre-tax | Tax expense/(benefit) | Net-of-tax | Pre-tax | Tax expense/(benefit) | Net-of-tax | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Beginning balance, loss net of tax | |||||||||||||||||||||||||
Securities available-for sale | $ | (8,896 | ) | $ | (15,073 | ) | |||||||||||||||||||
Cash flow hedge derivatives | - | - | |||||||||||||||||||||||
Total | $ | (8,896 | ) | $ | (15,073 | ) | |||||||||||||||||||
Net unrealized gains/(losses) arising during the period | |||||||||||||||||||||||||
Securities available-for sale | $ | 292 | $ | 122 | $ | 170 | $ | (1,854 | ) | $ | (780 | ) | $ | (1,074 | ) | ||||||||||
Cash flow hedge derivatives | 171 | 71 | 100 | - | - | - | |||||||||||||||||||
Total | 463 | 193 | 270 | (1,854 | ) | (780 | ) | $ | (1,074 | ) | |||||||||||||||
Reclassification adjustment for net losses in net income | |||||||||||||||||||||||||
Securities available-for sale | (361 | ) | (152 | ) | (209 | ) | (8,688 | ) | (3,652 | ) | (5,036 | ) | |||||||||||||
Cash flow hedge derivatives | - | - | - | - | - | - | |||||||||||||||||||
Total | (361 | ) | (152 | ) | (209 | ) | (8,688 | ) | (3,652 | ) | (5,036 | ) | |||||||||||||
Total other comprehensive (loss)/income | |||||||||||||||||||||||||
Securities available-for sale | (69 | ) | (30 | ) | (39 | ) | (10,542 | ) | (4,432 | ) | (6,110 | ) | |||||||||||||
Cash flow hedge derivatives | 171 | 71 | 100 | - | - | - | |||||||||||||||||||
Total | $ | 102 | $ | 41 | $ | 61 | $ | (10,542 | ) | $ | (4,432 | ) | $ | (6,110 | ) | ||||||||||
Ending balance, (loss)/income net of tax | |||||||||||||||||||||||||
Securities available-for sale | $ | (8,935 | ) | $ | (21,183 | ) | |||||||||||||||||||
Cash flow hedge derivatives | 100 | - | |||||||||||||||||||||||
Total | $ | (8,835 | ) | $ | (21,183 | ) | |||||||||||||||||||
Nine months ended September 30, 2014 | Nine months ended September 30, 2013 | ||||||||||||||||||||||||
Pre-tax | Tax expense/(benefit) | Net-of-tax | Pre-tax | Tax expense/(benefit) | Net-of-tax | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Beginning balance, (loss)/income net of tax | |||||||||||||||||||||||||
Securities available-for sale | $ | (29,729 | ) | $ | 465 | ||||||||||||||||||||
Cash flow hedge derivatives | - | - | |||||||||||||||||||||||
Total | $ | (29,729 | ) | $ | 465 | ||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | |||||||||||||||||||||||||
Securities available-for sale | $ | 43,157 | $ | 18,143 | $ | 25,014 | $ | (48,245 | ) | $ | (20,282 | ) | $ | (27,963 | ) | ||||||||||
Cash flow hedge derivatives | (281 | ) | (118 | ) | (163 | ) | - | - | - | ||||||||||||||||
Total | 42,876 | 18,025 | 24,851 | (48,245 | ) | (20,282 | ) | $ | (27,963 | ) | |||||||||||||||
Reclassification adjustment for net losses in net income | |||||||||||||||||||||||||
Securities available-for sale | (6,827 | ) | (2,870 | ) | (3,957 | ) | (27,157 | ) | (11,417 | ) | (15,740 | ) | |||||||||||||
Cash flow hedge derivatives | - | - | - | - | - | - | |||||||||||||||||||
Total | (6,827 | ) | (2,870 | ) | (3,957 | ) | (27,157 | ) | (11,417 | ) | (15,740 | ) | |||||||||||||
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | - | - | - | 38,052 | 15,997 | 22,055 | |||||||||||||||||||
Total other comprehensive income/(loss) | |||||||||||||||||||||||||
Securities available-for sale | 36,330 | 15,273 | 21,057 | (37,350 | ) | (15,702 | ) | (21,648 | ) | ||||||||||||||||
Cash flow hedge derivatives | (281 | ) | (118 | ) | (163 | ) | - | - | - | ||||||||||||||||
Total | $ | 36,049 | $ | 15,155 | $ | 20,894 | $ | (37,350 | ) | $ | (15,702 | ) | $ | (21,648 | ) | ||||||||||
Ending balance, loss net of tax | |||||||||||||||||||||||||
Securities available-for sale | $ | (8,672 | ) | $ | (21,183 | ) | |||||||||||||||||||
Cash flow hedge derivatives | (163 | ) | - | ||||||||||||||||||||||
Total | $ | (8,835 | ) | $ | (21,183 | ) | |||||||||||||||||||
Note_4_Earnings_per_Share_Tabl
Note 4 - Earnings per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands, except share and per share data) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Net income attributable to Cathay General Bancorp | $ | 35,909 | $ | 32,478 | $ | 102,252 | $ | 91,241 | |||||||||
Dividends on preferred stock and noncash charge from repayment | - | (2,434 | ) | - | (9,685 | ) | |||||||||||
Net income available to common stockholders | $ | 35,909 | $ | 30,044 | $ | 102,252 | $ | 81,556 | |||||||||
Weighted-average shares: | |||||||||||||||||
Basic weighted-average number of common shares outstanding | 79,677,952 | 78,894,262 | 79,639,202 | 78,853,333 | |||||||||||||
Dilutive effect of weighted-average outstanding common share equivalents | |||||||||||||||||
Warrants | 346,101 | 171,426 | 306,306 | 57,771 | |||||||||||||
Options | 109,803 | - | 103,022 | - | |||||||||||||
Restricted stock units | 42,244 | 48,434 | 39,289 | 33,048 | |||||||||||||
Diluted weighted-average number of common shares outstanding | 80,176,100 | 79,114,122 | 80,087,819 | 78,944,152 | |||||||||||||
Average stock options and warrants with anti-dilutive effect | 1,990,358 | 3,668,285 | 1,993,384 | 4,958,218 | |||||||||||||
Earnings per common share: | |||||||||||||||||
Basic | $ | 0.45 | $ | 0.38 | $ | 1.28 | $ | 1.03 | |||||||||
Diluted | $ | 0.45 | $ | 0.38 | $ | 1.28 | $ | 1.03 |
Note_5_StockBased_Compensation1
Note 5 - Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||||||
Weighted-average | Weighted-average Remaining Contractual Life | Aggregate | |||||||||||||||
Intrinsic | |||||||||||||||||
Value | |||||||||||||||||
Shares | exercise price | (in years) | (in thousands) | ||||||||||||||
Balance, December 31, 2013 | 2,812,874 | $ | 31.81 | 1.9 | $ | 2,119 | |||||||||||
Forfeited | (438,000 | ) | 28.7 | ||||||||||||||
Balance, March 31, 2014 | 2,374,874 | $ | 32.38 | 2 | $ | 1,148 | |||||||||||
Forfeited | (10,000 | ) | 32.26 | ||||||||||||||
Balance, June 30, 2014 | 2,364,874 | $ | 32.38 | 1.7 | $ | 4,083 | |||||||||||
Forfeited | - | - | |||||||||||||||
Balance, September 30, 2014 | 2,364,874 | $ | 32.38 | 1.5 | $ | 3,487 | |||||||||||
Exercisable, September 30, 2014 | 2,364,874 | $ | 32.38 | 1.5 | $ | 3,487 | |||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | ' | ||||||||||||||||
Units | |||||||||||||||||
Balance at December 31, 2013 | 143,433 | ||||||||||||||||
Granted | 17,601 | ||||||||||||||||
Forfeited | - | ||||||||||||||||
Vested | (42,520 | ) | |||||||||||||||
Balance at September 30, 2014 | 118,514 | ||||||||||||||||
Schedule of Tax Benefit (Short-Fall) From Share-Based Payment Arrangements [Table Text Block] | ' | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
(Dollars in thousands) | 2014 | 2013 | 2014 | 2013 | |||||||||||||
Short-fall of tax deductions in excess of grant-date fair value | $ | - | $ | (63 | ) | $ | (1,177 | ) | $ | (143 | ) | ||||||
Benefit of tax deductions on grant-date fair value | - | 95 | 1,177 | 702 | |||||||||||||
Total benefit of tax deductions | $ | - | $ | 32 | $ | - | $ | 559 |
Note_6_Investment_Securities_T
Note 6 - Investment Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Available-for-sale Securities [Table Text Block] | ' | ||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. treasury securities | $ | 539,919 | $ | 198 | $ | 29 | $ | 540,088 | |||||||||||||||||
Mortgage-backed securities | 703,312 | 1,085 | 21,073 | 683,324 | |||||||||||||||||||||
Collateralized mortgage obligations | 80 | - | 34 | 46 | |||||||||||||||||||||
Corporate debt securities | 94,941 | 751 | 1,355 | 94,337 | |||||||||||||||||||||
Mutual funds | 6,000 | - | 183 | 5,817 | |||||||||||||||||||||
Preferred stock of government sponsored entities | 7,196 | 2,056 | - | 9,252 | |||||||||||||||||||||
Other equity securities | 3,608 | 3,620 | - | 7,228 | |||||||||||||||||||||
Total | $ | 1,355,056 | $ | 7,710 | $ | 22,674 | $ | 1,340,092 | |||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | |||||||||||||||||||||||
Cost | Gains | Losses | Fair Value | ||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. treasury securities | $ | 460,095 | $ | 99 | $ | 1 | $ | 460,193 | |||||||||||||||||
Mortgage-backed securities | 1,010,294 | 7,049 | 64,529 | 952,814 | |||||||||||||||||||||
Collateralized mortgage obligations | 5,929 | 231 | 54 | 6,106 | |||||||||||||||||||||
Asset-backed securities | 123 | - | - | 123 | |||||||||||||||||||||
Corporate debt securities | 154,955 | 298 | 4,949 | 150,304 | |||||||||||||||||||||
Mutual funds | 6,000 | - | 275 | 5,725 | |||||||||||||||||||||
Preferred stock of government sponsored entities | 569 | 10,834 | - | 11,403 | |||||||||||||||||||||
Total | $ | 1,637,965 | $ | 18,511 | $ | 69,808 | $ | 1,586,668 | |||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | ||||||||||||||||||||||||
Securities Available-For-Sale | |||||||||||||||||||||||||
Amortized cost | Fair value | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
Due in one year or less | $ | 115,047 | $ | 115,156 | |||||||||||||||||||||
Due after one year through five years | 446,739 | 447,662 | |||||||||||||||||||||||
Due after five years through ten years | 85,693 | 84,983 | |||||||||||||||||||||||
Due after ten years (1) | 707,577 | 692,291 | |||||||||||||||||||||||
Total | $ | 1,355,056 | $ | 1,340,092 | |||||||||||||||||||||
(1) Equity securities are reported in this category | |||||||||||||||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | ||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Temporarily impaired securities | |||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. treasury securities | $ | 174,959 | $ | 29 | $ | - | $ | - | $ | 174,959 | $ | 29 | |||||||||||||
Mortgage-backed securities | 92,436 | 151 | 551,854 | 20,922 | 644,290 | 21,073 | |||||||||||||||||||
Collateralized mortgage obligations | - | - | 46 | 34 | 46 | 34 | |||||||||||||||||||
Corporate debt securities | - | - | 63,645 | 1,355 | 63,645 | 1,355 | |||||||||||||||||||
Mutual funds | - | - | 5,817 | 183 | 5,817 | 183 | |||||||||||||||||||
Total | $ | 267,395 | $ | 180 | $ | 621,362 | $ | 22,494 | $ | 888,757 | $ | 22,674 | |||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Temporarily impaired securities | |||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | ||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | ||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||
Securities Available-for-Sale | |||||||||||||||||||||||||
U.S. treasury securities | $ | 75,064 | $ | 1 | $ | - | $ | - | $ | 75,064 | $ | 1 | |||||||||||||
Mortgage-backed securities | 792,012 | 64,526 | 272 | 2 | 792,284 | 64,528 | |||||||||||||||||||
Mortgage-backed securities-Non-agency | 94 | 1 | - | - | 94 | 1 | |||||||||||||||||||
Collateralized mortgage obligations | 68 | 4 | 301 | 50 | 369 | 54 | |||||||||||||||||||
Corporate debt securities | 9,970 | 30 | 100,081 | 4,919 | 110,051 | 4,949 | |||||||||||||||||||
Mutual funds | - | - | 5,724 | 275 | 5,724 | 275 | |||||||||||||||||||
Total securities available-for-sale | $ | 877,208 | $ | 64,562 | $ | 106,378 | $ | 5,246 | $ | 983,586 | $ | 69,808 | |||||||||||||
Total investment securities | $ | 877,208 | $ | 64,562 | $ | 106,378 | $ | 5,246 | $ | 983,586 | $ | 69,808 |
Note_7_Loans_Tables
Note 7 - Loans (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||||||||||
Note 7 - Loans (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Schedule Of Components Of Loans In Consolidated Balance Sheets [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 2,450,118 | $ | 2,298,724 | |||||||||||||||||||||||||||||
Residential mortgage loans | 1,516,711 | 1,355,255 | |||||||||||||||||||||||||||||||
Commercial mortgage loans | 4,414,067 | 4,023,051 | |||||||||||||||||||||||||||||||
Equity lines | 172,223 | 171,277 | |||||||||||||||||||||||||||||||
Real estate construction loans | 301,459 | 221,701 | |||||||||||||||||||||||||||||||
Installment and other loans | 3,676 | 14,555 | |||||||||||||||||||||||||||||||
Gross loans | 8,858,254 | 8,084,563 | |||||||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||||||
Allowance for loan losses | (169,198 | ) | (173,889 | ) | |||||||||||||||||||||||||||||
Unamortized deferred loan fees | (12,903 | ) | (13,487 | ) | |||||||||||||||||||||||||||||
Total loans, net | $ | 8,676,153 | $ | 7,897,187 | |||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
Average Recorded Investment | Interest Income Recognized | ||||||||||||||||||||||||||||||||
Three months ended | Nine months ended | Three months ended | Nine months ended | ||||||||||||||||||||||||||||||
September 30, | September 30, | September 30, | September 30, | ||||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 21,706 | $ | 32,187 | $ | 26,741 | $ | 24,873 | $ | 205 | $ | 166 | $ | 636 | $ | 395 | |||||||||||||||||
Real estate construction loans | 33,276 | 34,946 | 33,459 | 39,014 | 66 | 67 | 198 | 199 | |||||||||||||||||||||||||
Commercial mortgage loans | 119,611 | 132,921 | 114,663 | 145,380 | 1,153 | 730 | 3,310 | 3,289 | |||||||||||||||||||||||||
Residential mortgage and equity lines | 16,151 | 16,884 | 17,889 | 17,574 | 128 | 106 | 363 | 227 | |||||||||||||||||||||||||
Total impaired loans | $ | 190,744 | $ | 216,938 | $ | 192,752 | $ | 226,841 | $ | 1,552 | $ | 1,069 | $ | 4,507 | $ | 4,110 | |||||||||||||||||
Schedule Of Impaired Loans And Related Allowance And Charge-Off [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Impaired Loans | |||||||||||||||||||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||||||||||||||||||
Unpaid | Recorded | Allowance | Unpaid | Recorded | Allowance | ||||||||||||||||||||||||||||
Principal | Investment | Principal | Investment | ||||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
With no allocated allowance | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 19,792 | $ | 18,764 | $ | - | $ | 20,992 | $ | 18,905 | $ | - | |||||||||||||||||||||
Real estate construction loans | 37,403 | 16,133 | - | 25,401 | 15,097 | - | |||||||||||||||||||||||||||
Commercial mortgage loans | 84,274 | 82,586 | - | 105,593 | 78,930 | - | |||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 2,541 | 2,541 | - | 4,892 | 4,892 | - | |||||||||||||||||||||||||||
Subtotal | $ | 144,010 | $ | 120,024 | $ | - | $ | 156,878 | $ | 117,824 | $ | - | |||||||||||||||||||||
With allocated allowance | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 8,951 | $ | 6,985 | $ | 2,730 | $ | 22,737 | $ | 13,063 | $ | 2,519 | |||||||||||||||||||||
Real estate construction loans | 15,377 | 15,377 | 2,604 | 28,475 | 19,323 | 3,460 | |||||||||||||||||||||||||||
Commercial mortgage loans | 33,749 | 32,973 | 7,999 | 39,223 | 35,613 | 6,584 | |||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 13,422 | 12,988 | 481 | 16,535 | 14,957 | 721 | |||||||||||||||||||||||||||
Subtotal | $ | 71,499 | $ | 68,323 | $ | 13,814 | $ | 106,970 | $ | 82,956 | $ | 13,284 | |||||||||||||||||||||
Total impaired loans | $ | 215,509 | $ | 188,347 | $ | 13,814 | $ | 263,848 | $ | 200,780 | $ | 13,284 | |||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Non-accrual | Total Past Due | Loans Not | Total | |||||||||||||||||||||||||||
Past Due | Past Due | More Past | Loans | Past Due | |||||||||||||||||||||||||||||
Due | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 8,307 | $ | 3,920 | $ | 662 | $ | 8,851 | $ | 21,740 | $ | 2,428,378 | $ | 2,450,118 | |||||||||||||||||||
Real estate construction loans | - | - | - | 25,728 | 25,728 | 275,731 | 301,459 | ||||||||||||||||||||||||||
Commercial mortgage loans | 171 | 1,676 | - | 23,830 | 25,677 | 4,388,390 | 4,414,067 | ||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 408 | 807 | - | 6,849 | 8,064 | 1,680,870 | 1,688,934 | ||||||||||||||||||||||||||
Installment and other loans | 168 | - | - | - | 168 | 3,508 | 3,676 | ||||||||||||||||||||||||||
Total loans | $ | 9,054 | $ | 6,403 | $ | 662 | $ | 65,258 | $ | 81,377 | $ | 8,776,877 | $ | 8,858,254 | |||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Non-accrual | Total Past Due | Loans Not | Total | |||||||||||||||||||||||||||
Past Due | Past Due | More Past | Loans | Past Due | |||||||||||||||||||||||||||||
Due | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Type of Loans: | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 7,170 | $ | 16,562 | $ | - | $ | 21,232 | $ | 44,964 | $ | 2,253,760 | $ | 2,298,724 | |||||||||||||||||||
Real estate construction loans | - | - | - | 28,586 | 28,586 | 193,115 | 221,701 | ||||||||||||||||||||||||||
Commercial mortgage loans | 20,043 | 7,862 | 982 | 19,621 | 48,508 | 3,974,543 | 4,023,051 | ||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 3,508 | 832 | - | 13,744 | 18,084 | 1,508,448 | 1,526,532 | ||||||||||||||||||||||||||
Installment and other loans | 100 | - | - | - | 100 | 14,455 | 14,555 | ||||||||||||||||||||||||||
Total loans | $ | 30,821 | $ | 25,256 | $ | 982 | $ | 83,183 | $ | 140,242 | $ | 7,944,321 | $ | 8,084,563 | |||||||||||||||||||
Schedule Of Troubled Debt Restructurings [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Nine months ended September 30, 2014 | 30-Sep-14 | ||||||||||||||||||||||||||||||||
No. of | Pre-Modification | Post-Modification | Charge-offs | Specific Reserve | |||||||||||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding Recorded | |||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | 6 | $ | 10,773 | $ | 10,773 | $ | - | $ | 26 | ||||||||||||||||||||||||
Commercial mortgage loans | 3 | 11,818 | 11,818 | - | 564 | ||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 5 | 2,226 | 2,226 | - | 16 | ||||||||||||||||||||||||||||
Total | 14 | $ | 24,817 | $ | 24,817 | $ | - | $ | 606 | ||||||||||||||||||||||||
Nine months ended September 30, 2013 | 30-Sep-13 | ||||||||||||||||||||||||||||||||
No. of Contracts | Pre-Modification | Post-Modification | Charge-offs | Specific Reserve | |||||||||||||||||||||||||||||
Outstanding Recorded | Outstanding Recorded | ||||||||||||||||||||||||||||||||
Investment | Investment | ||||||||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | 9 | 11,705 | 10,516 | $ | 1,189 | $ | 71 | ||||||||||||||||||||||||||
Commercial mortgage loans | 3 | 7,474 | 7,474 | - | 191 | ||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 11 | 3,736 | 3,658 | 78 | 125 | ||||||||||||||||||||||||||||
Total | 23 | $ | 22,915 | $ | 21,648 | $ | 1,267 | $ | 387 | ||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Accruing TDRs | Principal | Rate | Rate Reduction | Rate Reduction | Total | ||||||||||||||||||||||||||||
Deferral | Reduction | and Forgiveness | and Payment | ||||||||||||||||||||||||||||||
of Principal | Deferral | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 13,006 | $ | 1,558 | $ | - | $ | 2,333 | $ | 16,897 | |||||||||||||||||||||||
Real estate construction loans | - | - | - | 5,782 | 5,782 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 19,116 | 8,317 | - | 64,296 | 91,729 | ||||||||||||||||||||||||||||
Residential mortgage loans | 3,557 | 1,013 | 216 | 3,895 | 8,681 | ||||||||||||||||||||||||||||
Total accruing TDRs | $ | 35,679 | $ | 10,888 | $ | 216 | $ | 76,306 | $ | 123,089 | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Accruing TDRs | Principal | Rate | Rate Reduction | Total | |||||||||||||||||||||||||||||
Deferral | Reduction | and Payment | |||||||||||||||||||||||||||||||
Deferral | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 9,112 | $ | 2,916 | $ | 2,708 | $ | 14,736 | |||||||||||||||||||||||||
Real estate construction loans | - | - | 5,834 | 5,834 | |||||||||||||||||||||||||||||
Commercial mortgage loans | 11,333 | 9,389 | 70,200 | 90,922 | |||||||||||||||||||||||||||||
Residential mortgage loans | 1,564 | 1,024 | 3,517 | 6,105 | |||||||||||||||||||||||||||||
Total accruing TDRs | $ | 22,009 | $ | 13,329 | $ | 82,259 | $ | 117,597 | |||||||||||||||||||||||||
Non Accrual Troubled Debt Restructurings [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
September 30, 2014 | |||||||||||||||||||||||||||||||||
Non-accrual TDRs | Interest | Principal | Rate Reduction | Rate Reduction | Total | ||||||||||||||||||||||||||||
Deferral | Deferral | and Forgiveness | and Payment | ||||||||||||||||||||||||||||||
of Principal | Deferral | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 2,186 | $ | 1,225 | $ | 243 | $ | 3,654 | |||||||||||||||||||||||
Real estate construction loans | - | 15,377 | - | 8,851 | 24,228 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 226 | 3,159 | - | 1,369 | 4,754 | ||||||||||||||||||||||||||||
Residential mortgage loans | 213 | - | - | 1,313 | 1,526 | ||||||||||||||||||||||||||||
Total non-accrual TDRs | $ | 439 | $ | 20,722 | $ | 1,225 | $ | 11,776 | $ | 34,162 | |||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||||||
Non-accrual TDRs | Interest | Principal | Rate Reduction | Rate Reduction | Total | ||||||||||||||||||||||||||||
Deferral | Deferral | and Forgiveness | and Payment | ||||||||||||||||||||||||||||||
of Principal | Deferral | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | 2,866 | $ | 1,352 | $ | - | $ | 4,218 | |||||||||||||||||||||||
Real estate construction loans | - | 16,009 | - | 9,263 | 25,272 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 1,443 | 2,168 | - | 1,843 | 5,454 | ||||||||||||||||||||||||||||
Residential mortgage loans | 241 | 2,206 | - | 1,378 | 3,825 | ||||||||||||||||||||||||||||
Total non-accrual TDRs | $ | 1,684 | $ | 23,249 | $ | 1,352 | $ | 12,484 | $ | 38,769 | |||||||||||||||||||||||
Activity Within The Troubled Debt Resturings [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||
Accruing TDRs | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 111,136 | $ | 115,464 | $ | 117,597 | $ | 144,695 | |||||||||||||||||||||||||
New restructurings | 14,900 | 10,669 | 22,997 | 15,485 | |||||||||||||||||||||||||||||
Restructured loans restored to accrual status | 660 | 5,397 | 1,622 | 6,851 | |||||||||||||||||||||||||||||
Charge-offs | - | - | - | (78 | ) | ||||||||||||||||||||||||||||
Payments | (3,607 | ) | (15,274 | ) | (11,897 | ) | (48,663 | ) | |||||||||||||||||||||||||
Restructured loans placed on nonaccrual | - | (316 | ) | (7,230 | ) | (2,350 | ) | ||||||||||||||||||||||||||
Ending balance | $ | 123,089 | $ | 115,940 | $ | 123,089 | $ | 115,940 | |||||||||||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||||||||||||||||||
Non-accrual TDRs | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Beginning balance | $ | 43,605 | $ | 48,524 | $ | 38,769 | $ | 47,731 | |||||||||||||||||||||||||
New restructurings | 34 | 2,415 | 1,820 | 6,163 | |||||||||||||||||||||||||||||
Restructured loans placed on nonaccrual | - | 316 | 7,230 | 2,350 | |||||||||||||||||||||||||||||
Charge-offs | (234 | ) | (1,188 | ) | (833 | ) | (2,121 | ) | |||||||||||||||||||||||||
Payments | (8,583 | ) | (1,062 | ) | (11,202 | ) | (3,664 | ) | |||||||||||||||||||||||||
Restructured loans restored to accrual status | (660 | ) | (5,397 | ) | (1,622 | ) | (6,851 | ) | |||||||||||||||||||||||||
Ending balance | $ | 34,162 | $ | 43,608 | $ | 34,162 | $ | 43,608 | |||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
Pass/Watch | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 2,283,837 | $ | 82,731 | $ | 80,180 | $ | 3,370 | $ | 2,450,118 | |||||||||||||||||||||||
Real estate construction loans | 267,760 | - | 32,199 | 1,500 | 301,459 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 4,124,943 | 112,825 | 176,299 | - | 4,414,067 | ||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 1,679,920 | - | 9,014 | - | 1,688,934 | ||||||||||||||||||||||||||||
Installment and other loans | 3,676 | - | - | - | 3,676 | ||||||||||||||||||||||||||||
Total gross loans | $ | 8,360,136 | $ | 195,556 | $ | 297,692 | $ | 4,870 | $ | 8,858,254 | |||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Pass/Watch | Special Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
Commercial loans | $ | 2,108,191 | $ | 84,786 | $ | 102,088 | $ | 3,659 | $ | 2,298,724 | |||||||||||||||||||||||
Real estate construction loans | 184,449 | - | 33,939 | 3,313 | 221,701 | ||||||||||||||||||||||||||||
Commercial mortgage loans | 3,686,788 | 127,436 | 208,827 | - | 4,023,051 | ||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | 1,510,647 | - | 15,885 | - | 1,526,532 | ||||||||||||||||||||||||||||
Installment and other loans | 14,555 | - | - | - | 14,555 | ||||||||||||||||||||||||||||
Total gross loans | $ | 7,504,630 | $ | 212,222 | $ | 360,739 | $ | 6,972 | $ | 8,084,563 | |||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Commercial | Real Estate Construction | Commercial Mortgage | Residential Mortgage Loans and | Installment | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||||||
Loans | Loans | Loans | Equity Lines | Loans | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
June 30, 2014 Ending Balance | $ | 63,239 | $ | 9,555 | $ | 83,395 | $ | 12,870 | $ | 18 | 169,077 | ||||||||||||||||||||||
Provision/(credit) for possible credit losses | (10,839 | ) | 25,116 | (17,950 | ) | (1,427 | ) | (1 | ) | (5,101 | ) | ||||||||||||||||||||||
Charge-offs | (252 | ) | - | (903 | ) | - | - | (1,155 | ) | ||||||||||||||||||||||||
Recoveries | 4,148 | 32 | 2,197 | - | - | 6,377 | |||||||||||||||||||||||||||
Net (charge-offs)/recoveries | 3,896 | 32 | 1,294 | - | - | 5,222 | |||||||||||||||||||||||||||
September 30, 2014 Ending Balance | $ | 56,296 | $ | 34,703 | $ | 66,739 | $ | 11,443 | $ | 17 | $ | 169,198 | |||||||||||||||||||||
June 30, 2013 Ending Balance | $ | 64,379 | $ | 13,755 | $ | 89,678 | $ | 11,892 | $ | 29 | $ | 179,733 | |||||||||||||||||||||
Provision/(credit) for possible credit losses | 2,121 | 1,660 | (5,710 | ) | 52 | 6 | (1,871 | ) | |||||||||||||||||||||||||
Charge-offs | (200 | ) | - | (394 | ) | (160 | ) | - | (754 | ) | |||||||||||||||||||||||
Recoveries | 436 | 1,236 | 2,514 | 158 | - | 4,344 | |||||||||||||||||||||||||||
Net (charge-offs)/recoveries | 236 | 1,236 | 2,120 | (2 | ) | - | 3,590 | ||||||||||||||||||||||||||
September 30, 2013 Ending Balance | $ | 66,736 | $ | 16,651 | $ | 86,088 | $ | 11,942 | $ | 35 | $ | 181,452 | |||||||||||||||||||||
Commercial | Real Estate Construction | Commercial Mortgage | Residential Mortgage Loans and | Installment | |||||||||||||||||||||||||||||
and Other | |||||||||||||||||||||||||||||||||
Loans | Loans | Loans | Equity Lines | Loans | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
2014 Beginning Balance | $ | 65,103 | $ | 11,999 | $ | 84,753 | $ | 12,005 | $ | 29 | $ | 173,889 | |||||||||||||||||||||
Provision/(credit) for possible credit losses | (12,067 | ) | 24,460 | (20,991 | ) | (562 | ) | (12 | ) | (9,172 | ) | ||||||||||||||||||||||
Charge-offs | (7,592 | ) | (1,813 | ) | (3,327 | ) | - | - | (12,732 | ) | |||||||||||||||||||||||
Recoveries | 10,852 | 57 | 6,304 | - | - | 17,213 | |||||||||||||||||||||||||||
Net (charge-offs)/recoveries | 3,260 | (1,756 | ) | 2,977 | - | - | 4,481 | ||||||||||||||||||||||||||
September 30, 2014 Ending Balance | $ | 56,296 | $ | 34,703 | $ | 66,739 | $ | 11,443 | $ | 17 | $ | 169,198 | |||||||||||||||||||||
Reserve for impaired loans | $ | 2,730 | $ | 2,604 | $ | 7,999 | $ | 481 | $ | - | $ | 13,814 | |||||||||||||||||||||
Reserve for non-impaired loans | $ | 53,566 | $ | 32,099 | $ | 58,740 | $ | 10,962 | $ | 17 | $ | 155,384 | |||||||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 901 | $ | 668 | $ | 410 | $ | 39 | $ | - | $ | 2,018 | |||||||||||||||||||||
2013 Beginning Balance | $ | 66,101 | $ | 23,017 | $ | 82,473 | $ | 11,703 | $ | 28 | $ | 183,322 | |||||||||||||||||||||
Provision/(credit) for possible credit losses | 3,200 | (8,622 | ) | 935 | 780 | (4 | ) | (3,711 | ) | ||||||||||||||||||||||||
Charge-offs | (4,580 | ) | - | (3,425 | ) | (766 | ) | - | (8,771 | ) | |||||||||||||||||||||||
Recoveries | 2,015 | 2,256 | 6,105 | 225 | 11 | 10,612 | |||||||||||||||||||||||||||
Net (charge-offs)/recoveries | (2,565 | ) | 2,256 | 2,680 | (541 | ) | 11 | 1,841 | |||||||||||||||||||||||||
September 30, 2013 Ending Balance | $ | 66,736 | $ | 16,651 | $ | 86,088 | $ | 11,942 | $ | 35 | $ | 181,452 | |||||||||||||||||||||
Reserve for impaired loans | $ | 10,849 | $ | 5,691 | $ | 6,129 | $ | 693 | $ | - | $ | 23,362 | |||||||||||||||||||||
Reserve for non-impaired loans | $ | 55,887 | $ | 10,960 | $ | 79,959 | $ | 11,249 | $ | 35 | $ | 158,090 | |||||||||||||||||||||
Reserve for off-balance sheet credit commitments | $ | 953 | $ | 287 | $ | 799 | $ | 34 | $ | 1 | $ | 2,074 | |||||||||||||||||||||
Impairment Method [Member] | ' | ||||||||||||||||||||||||||||||||
Note 7 - Loans (Tables) [Line Items] | ' | ||||||||||||||||||||||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||||||||||||
Commercial | Real Estate Construction | Commercial Mortgage | Residential Mortgage Loans and | Installment and | |||||||||||||||||||||||||||||
Loans | Loans | Loans | Equity Lines | Other Loans | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | |||||||||||||||||||||||||||||||||
Allowance | $ | 2,730 | $ | 2,604 | $ | 7,999 | $ | 481 | $ | - | $ | 13,814 | |||||||||||||||||||||
Balance | $ | 25,749 | $ | 31,510 | $ | 115,559 | $ | 15,529 | $ | - | $ | 188,347 | |||||||||||||||||||||
Loans collectively evaluated for impairment | |||||||||||||||||||||||||||||||||
Allowance | $ | 53,566 | $ | 32,099 | $ | 58,740 | $ | 10,962 | $ | 17 | $ | 155,384 | |||||||||||||||||||||
Balance | $ | 2,424,369 | $ | 269,949 | $ | 4,298,508 | $ | 1,673,405 | $ | 3,676 | $ | 8,669,907 | |||||||||||||||||||||
Total allowance | $ | 56,296 | $ | 34,703 | $ | 66,739 | $ | 11,443 | $ | 17 | $ | 169,198 | |||||||||||||||||||||
Total balance | $ | 2,450,118 | $ | 301,459 | $ | 4,414,067 | $ | 1,688,934 | $ | 3,676 | $ | 8,858,254 | |||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | |||||||||||||||||||||||||||||||||
Allowance | $ | 2,519 | $ | 3,460 | $ | 6,584 | $ | 721 | $ | - | $ | 13,284 | |||||||||||||||||||||
Balance | $ | 31,968 | $ | 34,420 | $ | 114,544 | $ | 19,848 | $ | - | $ | 200,780 | |||||||||||||||||||||
Loans collectively evaluated for impairment | |||||||||||||||||||||||||||||||||
Allowance | $ | 62,584 | $ | 8,539 | $ | 78,169 | $ | 11,284 | $ | 29 | $ | 160,605 | |||||||||||||||||||||
Balance | $ | 2,266,756 | $ | 187,281 | $ | 3,908,507 | $ | 1,506,684 | $ | 14,555 | $ | 7,883,783 | |||||||||||||||||||||
Total allowance | $ | 65,103 | $ | 11,999 | $ | 84,753 | $ | 12,005 | $ | 29 | $ | 173,889 | |||||||||||||||||||||
Total balance | $ | 2,298,724 | $ | 221,701 | $ | 4,023,051 | $ | 1,526,532 | $ | 14,555 | $ | 8,084,563 |
Note_9_Borrowed_Funds_Tables
Note 9 - Borrowed Funds (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Schedule Of Long Term Securities Sold Under Agreements To Repurchase [Table Text Block] | ' | ||||||||||||||||
(Dollars in millions) | Fixed-to-floating | Floating-to-fixed | Total | ||||||||||||||
Rate type | Float Rate | Fixed Rate | |||||||||||||||
Rate index | 8% minus 3 month LIBOR | ||||||||||||||||
Maximum rate | 3.5 | % | 3.5 | % | |||||||||||||
Minimum rate | 0 | % | 0 | % | |||||||||||||
No. of agreements | 2 | 1 | 4 | 7 | |||||||||||||
Amount | $ | 100 | $ | 50 | $ | 200 | $ | 350 | |||||||||
Weighted average rate | 3.5 | % | 3.5 | % | 5 | % | 4.36 | % | |||||||||
Final maturity | 2014 | 2015 | 2017 | ||||||||||||||
Schedule of Repurchase Agreements [Table Text Block] | ' | ||||||||||||||||
No. of | Amount | Weighted Average | |||||||||||||||
Maturity | Agreements | (In thousands) | Interest Rate | ||||||||||||||
1 year to 3 years | 2 | $ | 100,000 | 2.71 | % | ||||||||||||
3 years to 5 years | 2 | 100,000 | 2.86 | % | |||||||||||||
Total | 4 | $ | 200,000 | 2.78 | % | ||||||||||||
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | ' | ||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||
Amount | Weighted Average | Amount | Weighted Average | ||||||||||||||
Maturity | (In thousands) | Interest Rate | (In thousands) | Interest Rate | |||||||||||||
Within 90 days | $ | 530,000 | 0.07 | % | $ | 475,000 | 0.06 | % | |||||||||
4 - 5 years | 25,000 | 1.13 | % | 46,200 | 1.24 | % | |||||||||||
$ | 555,000 | 0.12 | % | $ | 521,200 | 0.17 | % |
Note_11_Fair_Value_Measurement1
Note 11 - Fair Value Measurements (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Text Block [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Fair Value Measurements Using | Total at | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 540,088 | $ | - | $ | - | $ | 540,088 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | - | 683,324 | - | 683,324 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | - | 46 | - | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | - | 94,337 | - | 94,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mutual funds | 5,817 | - | - | 5,817 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock of government sponsored entities | - | 9,252 | - | 9,252 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other equity securities | 7,228 | - | - | 7,228 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total securities available-for-sale | 553,133 | 786,959 | - | 1,340,092 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | - | - | 12 | 12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps | - | 442 | - | 442 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | - | 1,936 | - | 1,936 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 553,133 | $ | 789,337 | $ | 12 | $ | 1,342,482 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps | $ | - | $ | 280 | $ | - | $ | 280 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | - | 4,437 | - | 4,437 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $ | - | $ | 4,717 | $ | - | $ | 4,717 | ||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-13 | Fair Value Measurements Using | Total at | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | $ | 460,193 | $ | - | $ | - | $ | 460,193 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | - | 952,815 | - | 952,815 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Collateralized mortgage obligations | - | 6,106 | - | 6,106 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | - | 123 | - | 123 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate debt securities | - | 150,304 | - | 150,304 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mutual funds | 5,724 | - | - | 5,724 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock of government sponsored entities | - | 11,403 | - | 11,403 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total securities available-for-sale | 465,917 | 1,120,751 | - | 1,586,668 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trading securities | - | 4,936 | - | 4,936 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants | - | - | 30 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | - | 6,182 | - | 6,182 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 465,917 | $ | 1,131,869 | $ | 30 | $ | 1,597,816 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange contracts | $ | - | $ | 6,140 | $ | - | $ | 6,140 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | $ | - | $ | 6,140 | $ | - | $ | 6,140 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-Sep-14 | Total Losses / (Gains) | 31-Dec-13 | Total Losses / (Gains) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using | Total at | Three Months Ended | Nine Months Ended | Fair Value Measurements Using | Total at | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value | 30-Sep-14 | 30-Sep-13 | 30-Sep-14 | 30-Sep-13 | Level 1 | Level 2 | Level 3 | Fair Value | 31-Dec-13 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans by type: | Impaired loans by type: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | $ | - | $ | - | $ | 4,255 | $ | 4,255 | $ | - | $ | - | $ | 17 | $ | 536 | Commercial loans | $ | - | $ | - | $ | 7,584 | $ | 7,584 | $ | 5,731 | $ | - | |||||||||||||||||||||||||||||
Commercial mortgage loans | - | - | 24,974 | 24,974 | 515 | 394 | 515 | 459 | Commercial mortgage loans | - | - | 29,001 | 29,001 | 125 | 440 | |||||||||||||||||||||||||||||||||||||||||||
Construction loans | - | - | 12,773 | 12,773 | - | - | - | - | Construction- residential | - | - | 500 | 500 | - | - | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans and equity lines | - | - | 12,507 | 12,507 | 32 | 160 | 32 | 191 | Construction- other | - | - | 15,363 | 15,363 | - | 65 | |||||||||||||||||||||||||||||||||||||||||||
Total impaired loans | - | - | 54,509 | 54,509 | 547 | 554 | 564 | 1,186 | Residential mortgage loans and equity lines | - | - | 14,236 | 14,236 | 213 | 605 | |||||||||||||||||||||||||||||||||||||||||||
Other real estate owned (1) | - | 14,340 | 4,110 | 18,450 | (48 | ) | 111 | 277 | (1,267 | ) | Land loans | - | - | 29 | 29 | - | 162 | |||||||||||||||||||||||||||||||||||||||||
Investments in venture capital | - | - | 5,698 | 5,698 | 49 | 84 | 317 | 295 | Total impaired loans | - | - | 66,713 | 66,713 | 6,069 | 1,272 | |||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | - | $ | 14,340 | $ | 64,317 | $ | 78,657 | $ | 548 | $ | 749 | $ | 1,158 | $ | 214 | Other real estate owned (1) | - | 13,248 | 26,498 | 39,746 | (3,134 | ) | 10,904 | ||||||||||||||||||||||||||||||||||
Investments in venture capital | - | - | 8,900 | 8,900 | 409 | 309 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity investments | 642 | - | - | 642 | - | 181 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 642 | $ | 13,248 | $ | 102,111 | $ | 116,001 | $ | 3,344 | $ | 12,666 |
Note_12_Fair_Value_of_Financia1
Note 12 - Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | ||||||||||||||||
30-Sep-14 | 31-Dec-13 | ||||||||||||||||
Carrying | Carrying | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 200,302 | $ | 200,302 | $ | 153,747 | $ | 153,747 | |||||||||
Short-term investments | 597,747 | 597,747 | 516,938 | 516,938 | |||||||||||||
Securities available-for-sale | 1,340,092 | 1,340,092 | 1,586,668 | 1,586,668 | |||||||||||||
Trading securities | - | - | 4,936 | 4,936 | |||||||||||||
Loans, net | 8,676,153 | 8,576,545 | 7,897,187 | 7,760,490 | |||||||||||||
Investment in Federal Home Loan Bank stock | 34,090 | 34,090 | 25,000 | 25,000 | |||||||||||||
Warrants | 12 | 12 | 30 | 30 | |||||||||||||
Notional | Notional | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Option contracts | $ | - | $ | - | $ | 200 | $ | 0 | |||||||||
Foreign exchange contracts | 183,753 | 1,936 | 267,644 | 6,182 | |||||||||||||
Interest rate swaps | 147,358 | 442 | - | - | |||||||||||||
Financial Liabilities | Carrying | Carrying | |||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Deposits | $ | 8,694,669 | $ | 8,692,118 | $ | 7,981,305 | $ | 7,977,639 | |||||||||
Securities sold under agreements to repurchase | 550,000 | 576,670 | 800,000 | 852,835 | |||||||||||||
Advances from Federal Home Loan Bank | 555,000 | 555,000 | 521,200 | 521,560 | |||||||||||||
Other borrowings | 18,882 | 15,853 | 19,062 | 16,107 | |||||||||||||
Long-term debt | 119,136 | 59,425 | 121,136 | 58,970 | |||||||||||||
Notional | Notional | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Foreign exchange contracts | $ | 201,240 | $ | 4,437 | $ | 236,350 | $ | 6,140 | |||||||||
Interest rate swaps | 119,136 | 280 | - | - | |||||||||||||
Notional | Notional | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Off-Balance Sheet Financial Instruments | |||||||||||||||||
Commitments to extend credit | $ | 1,839,039 | $ | (3,160 | ) | $ | 1,858,669 | $ | (2,187 | ) | |||||||
Standby letters of credit | 54,304 | (331 | ) | 45,058 | (205 | ) | |||||||||||
Other letters of credit | 49,623 | (29 | ) | 54,098 | (34 | ) | |||||||||||
Bill of lading guarantees | 51 | - | 80 | - | |||||||||||||
Schedule of Fair Value of Financial Instruments [Table Text Block] | ' | ||||||||||||||||
30-Sep-14 | |||||||||||||||||
Estimated | |||||||||||||||||
Fair Value | |||||||||||||||||
Measurements | Level 1 | Level 2 | Level 3 | ||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 200,302 | $ | 200,302 | $ | - | $ | - | |||||||||
Short-term investments | 597,747 | 597,747 | - | - | |||||||||||||
Securities available-for-sale | 1,340,092 | 553,133 | 786,959 | - | |||||||||||||
Loans, net | 8,576,545 | - | - | 8,576,545 | |||||||||||||
Investment in Federal Home Loan Bank stock | 34,090 | - | 34,090 | - | |||||||||||||
Warrants | 12 | - | - | 12 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 8,692,118 | - | - | 8,692,118 | |||||||||||||
Securities sold under agreements to repurchase | 576,670 | - | 576,670 | - | |||||||||||||
Advances from Federal Home Loan Bank | 555,000 | - | 555,000 | - | |||||||||||||
Other borrowings | 15,853 | - | - | 15,853 | |||||||||||||
Long-term debt | 59,425 | - | 59,425 | - | |||||||||||||
31-Dec-13 | |||||||||||||||||
Estimated | |||||||||||||||||
Fair Value | |||||||||||||||||
Measurements | Level 1 | Level 2 | Level 3 | ||||||||||||||
(In thousands) | |||||||||||||||||
Financial Assets | |||||||||||||||||
Cash and due from banks | $ | 153,747 | $ | 153,747 | $ | - | $ | - | |||||||||
Short-term investments | 516,938 | 516,938 | - | - | |||||||||||||
Securities available-for-sale | 1,586,668 | 465,917 | 1,120,751 | - | |||||||||||||
Trading securities | 4,936 | - | 4,936 | - | |||||||||||||
Loans, net | 7,760,490 | - | - | 7,760,490 | |||||||||||||
Investment in Federal Home Loan Bank stock | 25,000 | - | 25,000 | - | |||||||||||||
Warrants | 30 | - | - | 30 | |||||||||||||
Financial Liabilities | |||||||||||||||||
Deposits | 7,977,639 | - | - | 7,977,639 | |||||||||||||
Securities sold under agreements to repurchase | 852,835 | - | 852,835 | - | |||||||||||||
Advances from Federal Home Loan Bank | 521,560 | - | 521,560 | - | |||||||||||||
Other borrowings | 16,107 | - | - | 16,107 | |||||||||||||
Long-term debt | 58,970 | - | 58,970 | - |
Note_15_Balance_Sheet_Offsetti1
Note 15 - Balance Sheet Offsetting (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | ' | ||||||||||||||||||||||||
Gross Amounts Not Offset in the Balance Sheet | |||||||||||||||||||||||||
Gross Amounts of | Gross Amounts | Net Amounts | Financial | Collateral | Net Amount | ||||||||||||||||||||
Recognized | Offset in the Balance | Presented in the | Instruments | Posted | |||||||||||||||||||||
Sheet | Balance Sheet | ||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||
Derivatives | $ | 442 | $ | - | $ | 442 | $ | - | $ | (442 | ) | $ | - | ||||||||||||
Liabilities: | |||||||||||||||||||||||||
Securities sold under agreements to repurchase | $ | 550,000 | $ | - | $ | 550,000 | $ | - | $ | (550,000 | ) | $ | - | ||||||||||||
Derivatives | $ | 280 | $ | - | $ | 280 | $ | - | $ | (280 | ) | $ | - | ||||||||||||
31-Dec-13 | |||||||||||||||||||||||||
Liabilities: | |||||||||||||||||||||||||
Securities sold under agreements to repurchase | $ | 800,000 | $ | - | $ | 800,000 | $ | - | $ | (800,000 | ) | $ | - |
Note_16_Stockholders_Equity_Ta
Note 16 - Stockholders' Equity (Tables) | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2014 | |||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2014 | Three months ended September 30, 2013 | Nine months ended September 30, 2014 | Nine months ended September 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
Pre-tax | Tax expense/(benefit) | Net-of-tax | Pre-tax | Tax expense/(benefit) | Net-of-tax | Pre-tax | Tax expense/(benefit) | Net-of-tax | Pre-tax | Tax expense/(benefit) | Net-of-tax | |||||||||||||||||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance, loss net of tax | Beginning balance, (loss)/income net of tax | |||||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for sale | $ | (8,896 | ) | $ | (15,073 | ) | Securities available-for sale | $ | (29,729 | ) | $ | 465 | ||||||||||||||||||||||||||||||||||||||
Cash flow hedge derivatives | - | - | Cash flow hedge derivatives | - | - | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | (8,896 | ) | $ | (15,073 | ) | Total | $ | (29,729 | ) | $ | 465 | ||||||||||||||||||||||||||||||||||||||
Net unrealized gains/(losses) arising during the period | Net unrealized gains/(losses) arising during the period | |||||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for sale | $ | 292 | $ | 122 | $ | 170 | $ | (1,854 | ) | $ | (780 | ) | $ | (1,074 | ) | Securities available-for sale | $ | 43,157 | $ | 18,143 | $ | 25,014 | $ | (48,245 | ) | $ | (20,282 | ) | $ | (27,963 | ) | |||||||||||||||||||
Cash flow hedge derivatives | 171 | 71 | 100 | - | - | - | Cash flow hedge derivatives | (281 | ) | (118 | ) | (163 | ) | - | - | - | ||||||||||||||||||||||||||||||||||
Total | 463 | 193 | 270 | (1,854 | ) | (780 | ) | $ | (1,074 | ) | Total | 42,876 | 18,025 | 24,851 | (48,245 | ) | (20,282 | ) | $ | (27,963 | ) | |||||||||||||||||||||||||||||
Reclassification adjustment for net losses in net income | Reclassification adjustment for net losses in net income | |||||||||||||||||||||||||||||||||||||||||||||||||
Securities available-for sale | (361 | ) | (152 | ) | (209 | ) | (8,688 | ) | (3,652 | ) | (5,036 | ) | Securities available-for sale | (6,827 | ) | (2,870 | ) | (3,957 | ) | (27,157 | ) | (11,417 | ) | (15,740 | ) | |||||||||||||||||||||||||
Cash flow hedge derivatives | - | - | - | - | - | - | Cash flow hedge derivatives | - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||||
Total | (361 | ) | (152 | ) | (209 | ) | (8,688 | ) | (3,652 | ) | (5,036 | ) | Total | (6,827 | ) | (2,870 | ) | (3,957 | ) | (27,157 | ) | (11,417 | ) | (15,740 | ) | |||||||||||||||||||||||||
Total other comprehensive (loss)/income | Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | - | - | - | 38,052 | 15,997 | 22,055 | |||||||||||||||||||||||||||||||||||||||||||
Securities available-for sale | (69 | ) | (30 | ) | (39 | ) | (10,542 | ) | (4,432 | ) | (6,110 | ) | Total other comprehensive income/(loss) | |||||||||||||||||||||||||||||||||||||
Cash flow hedge derivatives | 171 | 71 | 100 | - | - | - | Securities available-for sale | 36,330 | 15,273 | 21,057 | (37,350 | ) | (15,702 | ) | (21,648 | ) | ||||||||||||||||||||||||||||||||||
Total | $ | 102 | $ | 41 | $ | 61 | $ | (10,542 | ) | $ | (4,432 | ) | $ | (6,110 | ) | Cash flow hedge derivatives | (281 | ) | (118 | ) | (163 | ) | - | - | - | |||||||||||||||||||||||||
Ending balance, (loss)/income net of tax | Total | $ | 36,049 | $ | 15,155 | $ | 20,894 | $ | (37,350 | ) | $ | (15,702 | ) | $ | (21,648 | ) | ||||||||||||||||||||||||||||||||||
Securities available-for sale | $ | (8,935 | ) | $ | (21,183 | ) | Ending balance, loss net of tax | |||||||||||||||||||||||||||||||||||||||||||
Cash flow hedge derivatives | 100 | - | Securities available-for sale | $ | (8,672 | ) | $ | (21,183 | ) | |||||||||||||||||||||||||||||||||||||||||
Total | $ | (8,835 | ) | $ | (21,183 | ) | Cash flow hedge derivatives | (163 | ) | - | ||||||||||||||||||||||||||||||||||||||||
Total | $ | (8,835 | ) | $ | (21,183 | ) |
Note_1_Business_Details
Note 1 - Business (Details) | Jun. 30, 2014 |
Note 1 - Business (Details) [Line Items] | ' |
Number of Limited Partnerships in Housing Investments | 6 |
Equity Method Investment, Ownership Percentage | 100.00% |
Number of Business Trust | 5 |
Southern California Member | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 21 |
Northern California Member | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 12 |
NEW YORK | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 9 |
ILLINOIS | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 3 |
WASHINGTON | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 3 |
TEXAS | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 2 |
MASSACHUSETTS | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 1 |
NEW JERSEY | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 1 |
NEVADA | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 1 |
HONG KONG | ' |
Note 1 - Business (Details) [Line Items] | ' |
Number Of Branch Locations | 1 |
Note_4_Earnings_per_Share_Deta
Note 4 - Earnings per Share (Details) - Earnings per Share (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Note 4 - Earnings per Share (Details) - Earnings per Share [Line Items] | ' | ' | ' | ' |
Net income attributable to Cathay General Bancorp (in Dollars) | $35,909 | $32,478 | $102,252 | $91,241 |
Dividends on preferred stock and noncash charge from repayment (in Dollars) | ' | -2,434 | ' | -9,685 |
Net income available to common stockholders (in Dollars) | $35,909 | $30,044 | $102,252 | $81,556 |
Basic weighted-average number of common shares outstanding | 79,677,952 | 78,894,262 | 79,639,202 | 78,853,333 |
Dilutive effect of weighted-average outstanding common share equivalents | ' | ' | ' | ' |
Diluted weighted-average number of common shares outstanding | 80,176,100 | 79,114,122 | 80,087,819 | 78,944,152 |
Average stock options and warrants with anti-dilutive effect | 1,990,358 | 3,668,285 | 1,993,384 | 4,958,218 |
Basic (in Dollars per share) | $0.45 | $0.38 | $1.28 | $1.03 |
Diluted (in Dollars per share) | $0.45 | $0.38 | $1.28 | $1.03 |
Warrant [Member] | ' | ' | ' | ' |
Dilutive effect of weighted-average outstanding common share equivalents | ' | ' | ' | ' |
Dilutive effect of weighted-average number of common shares outstanding | 346,101 | 171,426 | 306,306 | 57,771 |
Equity Option [Member] | ' | ' | ' | ' |
Dilutive effect of weighted-average outstanding common share equivalents | ' | ' | ' | ' |
Dilutive effect of weighted-average number of common shares outstanding | 109,803 | ' | 103,022 | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Dilutive effect of weighted-average outstanding common share equivalents | ' | ' | ' | ' |
Dilutive effect of weighted-average number of common shares outstanding | 42,244 | 48,434 | 39,289 | 33,048 |
Note_5_StockBased_Compensation2
Note 5 - Stock-Based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | |
Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Performance TSR Restricted Stock [Member] | Performance EPS Restricted Stock Units [Member] | Performance EPS Restricted Stock Units [Member] | 2005 Incentive Plan [Member] | ||||||
Note 5 - Stock-Based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Period Of Common Stock Granted | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Increments To Be Vested In Common Stock Units | 20.00% | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock or Unit Option Plan Expense (in Dollars) | $0 | $0 | $0 | $129,000 | ' | $1,000,000 | $476,000 | $2,900,000 | $1,600,000 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,070,663 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | ' | ' | ' | ' | ' | 17,601 | ' | 25,037 | 119,840 | 116,186 | 0 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | $24.66 | ' | $20.68 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | '2 years | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | ' | ' | ' | ' | ' | $4,700,000 | ' | $4,700,000 | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' |
Note_5_StockBased_Compensation3
Note 5 - Stock-Based Compensation (Details) - Stock Options (USD $) | 0 Months Ended | 3 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2014 |
Stock Options [Abstract] | ' | ' | ' | ' | ' |
Balance - shares | 2,364,874 | 2,812,874 | 2,374,874 | ' | ' |
Balance - weighted-average exercise price | $32.38 | $31.81 | $32.38 | ' | ' |
Balance - weighted-average remaining contractual life | '1 year 6 months | '1 year 328 days | '1 year 255 days | '2 years | ' |
Balance - aggregate intrinisc value | $3,487 | $2,119 | $1,148 | ' | ' |
Exercisable, September 30, 2014 | ' | ' | ' | ' | 2,364,874 |
Exercisable, September 30, 2014 | $32.38 | ' | ' | ' | ' |
Exercisable, September 30, 2014 | '1 year 6 months | ' | ' | ' | ' |
Exercisable, September 30, 2014 | ' | ' | ' | ' | 3,487 |
Forfeited - shares | ' | ' | -10,000 | -438,000 | ' |
Forfeited - weighted average exercise price | ' | ' | $32.26 | $28.70 | ' |
Balance - shares | ' | ' | 2,364,874 | 2,374,874 | ' |
Balance - weighted-average exercise price | ' | ' | $32.38 | $32.38 | ' |
Balance - aggregate intrinisc value | ' | ' | $4,083 | $1,148 | ' |
Note_5_StockBased_Compensation4
Note 5 - Stock-Based Compensation (Details) - Restricted Stock Units (Restricted Stock Units (RSUs) [Member]) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Note 5 - Stock-Based Compensation (Details) - Restricted Stock Units [Line Items] | ' | ' |
Balance at December 31, 2013 | 143,433 | ' |
Balance at September 30, 2014 | 118,514 | 143,433 |
Granted | 17,601 | 25,037 |
Vested | -42,520 | ' |
Note_5_StockBased_Compensation5
Note 5 - Stock-Based Compensation (Details) - Tax Short-fall from Share-based Payment Arrangements (USD $) | 3 Months Ended | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Tax Short-fall from Share-based Payment Arrangements [Abstract] | ' | ' | ' |
Short-fall of tax deductions in excess of grant-date fair value | ($63) | ($1,177) | ($143) |
Benefit of tax deductions on grant-date fair value | 95 | 1,177 | 702 |
Total benefit of tax deductions | $32 | ' | $559 |
Note_6_Investment_Securities_D
Note 6 - Investment Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | |||||
Mar. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | |
Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Corporate Bonds Issued By Financial Institutions [Member] | Preferred Stock of Government Sponsored Entities [Member] | |||||
Note 6 - Investment Securities (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Securities | ' | $1,340,000,000 | ' | $1,590,000,000 | ' | ' | ' | ' |
Held-to-maturity Securities, Transferred Security, at Carrying Value | 722,500,000 | ' | ' | ' | ' | ' | ' | ' |
Held-to-maturity Securities, Transferred Security, Unrealized Gain (Loss) | 40,500,000 | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Sale of Mortgage Backed Securities (MBS) categorized as Available-for-sale | ' | 458,400,000 | 348,700,000 | ' | ' | ' | ' | ' |
Proceeds from Maturities, Prepayments and Calls of Mortgage Backed Securities (MBS) | ' | 54,700,000 | 237,900,000 | ' | ' | ' | ' | ' |
Proceeds From Sales and Repayments of Other Investment Securities | ' | 84,900,000 | 555,200,000 | ' | ' | ' | ' | ' |
Proceeds From Maturities Repayments And Calls Of Held For Investment | ' | 585,800,000 | 180,100,000 | ' | ' | ' | ' | ' |
Realized Gain From Sale and Call of Investment Securities | ' | 17,100,000 | 27,200,000 | ' | ' | ' | ' | ' |
Realized Loss From Sale and Call of Investment Securities | ' | 9,500,000 | 0 | ' | ' | ' | ' | ' |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | ' | 22,674,000 | ' | 69,808,000 | 21,073,000 | 64,529,000 | 1,400,000 | ' |
Temporarily Impaired Securities As Percentage of Investment Securities | ' | 66.30% | ' | ' | ' | ' | ' | ' |
Percentage of Unrealized Losses for Securities with Unrealized Losses for Less Than Twelve Months | ' | 0.07% | ' | ' | ' | ' | ' | ' |
Percentage of Unrealized Losses for Securities with Unrealized Losses for Greater than Twelve Months | ' | 3.50% | ' | ' | ' | ' | ' | ' |
Other than Temporary Impairment Losses, Investments | ' | ' | ' | ' | ' | ' | ' | 820,000 |
Pledged Investment Securities | ' | $703,600,000 | ' | $926,500,000 | ' | ' | ' | ' |
Note_6_Investment_Securities_D1
Note 6 - Investment Securities (Details) - Investment Securities (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | $1,355,056 | $1,637,965 |
Securities Available-for-sale, Gross Unrealized Gains | 7,710 | 18,511 |
Securities Available-for-sale, Gross Unrealized Losses | 22,674 | 69,808 |
Securities Available-for-sale, Fair Value | 1,340,092 | 1,586,668 |
US Treasury Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 539,919 | 460,095 |
Securities Available-for-sale, Gross Unrealized Gains | 198 | 99 |
Securities Available-for-sale, Gross Unrealized Losses | 29 | 1 |
Securities Available-for-sale, Fair Value | 540,088 | 460,193 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 703,312 | 1,010,294 |
Securities Available-for-sale, Gross Unrealized Gains | 1,085 | 7,049 |
Securities Available-for-sale, Gross Unrealized Losses | 21,073 | 64,529 |
Securities Available-for-sale, Fair Value | 683,324 | 952,814 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 80 | 5,929 |
Securities Available-for-sale, Gross Unrealized Gains | ' | 231 |
Securities Available-for-sale, Gross Unrealized Losses | 34 | 54 |
Securities Available-for-sale, Fair Value | 46 | 6,106 |
Corporate Debt Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 94,941 | 154,955 |
Securities Available-for-sale, Gross Unrealized Gains | 751 | 298 |
Securities Available-for-sale, Gross Unrealized Losses | 1,355 | 4,949 |
Securities Available-for-sale, Fair Value | 94,337 | 150,304 |
Mutual Funds [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 6,000 | 6,000 |
Securities Available-for-sale, Gross Unrealized Losses | 183 | 275 |
Securities Available-for-sale, Fair Value | 5,817 | 5,725 |
Preferred Stock of Government Sponsored Entities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 7,196 | 569 |
Securities Available-for-sale, Gross Unrealized Gains | 2,056 | 10,834 |
Securities Available-for-sale, Fair Value | 9,252 | 11,403 |
Other Equity Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | 3,608 | ' |
Securities Available-for-sale, Gross Unrealized Gains | 3,620 | ' |
Securities Available-for-sale, Fair Value | 7,228 | ' |
Asset-backed Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-sale, Amortized Cost | ' | 123 |
Securities Available-for-sale, Fair Value | ' | $123 |
Note_6_Investment_Securities_D2
Note 6 - Investment Securities (Details) - Investments by Contractual Maturity Date (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Investments by Contractual Maturity Date [Abstract] | ' | ' | |
Due in one year or less | $115,047 | ' | |
Due in one year or less | 115,156 | ' | |
Due after one year through five years | 446,739 | ' | |
Due after one year through five years | 447,662 | ' | |
Due after five years through ten years | 85,693 | ' | |
Due after five years through ten years | 84,983 | ' | |
Due after ten years (1) | 707,577 | [1] | ' |
Due after ten years (1) | 692,291 | [1] | ' |
Total | 1,355,056 | 1,637,965 | |
Total | $1,340,092 | $1,586,668 | |
[1] | Equity securities are reported in this category |
Note_6_Investment_Securities_D3
Note 6 - Investment Securities (Details) - Temporarily Impaired Securities (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2014 |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | $877,208 | $267,395 |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 64,562 | 180 |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 106,378 | 621,362 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 5,246 | 22,494 |
Securities Available-for-Sale - Fair Value | 983,586 | 888,757 |
Securities Available-for-Sale - Unrealized Losses | 69,808 | 22,674 |
Total investment securities | 877,208 | ' |
Total investment securities | 64,562 | ' |
Total investment securities | 106,378 | ' |
Total investment securities | 5,246 | ' |
Total investment securities | 983,586 | ' |
Total investment securities | 69,808 | ' |
US Treasury Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 75,064 | 174,959 |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 1 | 29 |
Securities Available-for-Sale - Fair Value | 75,064 | 174,959 |
Securities Available-for-Sale - Unrealized Losses | 1 | 29 |
Collateralized Mortgage Backed Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 792,012 | 92,436 |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 64,526 | 151 |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 272 | 551,854 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 2 | 20,922 |
Securities Available-for-Sale - Fair Value | 792,284 | 644,290 |
Securities Available-for-Sale - Unrealized Losses | 64,528 | 21,073 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 68 | ' |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 4 | ' |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 301 | 46 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 50 | 34 |
Securities Available-for-Sale - Fair Value | 369 | 46 |
Securities Available-for-Sale - Unrealized Losses | 54 | 34 |
Corporate Debt Securities [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 9,970 | ' |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 30 | ' |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 100,081 | 63,645 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 4,919 | 1,355 |
Securities Available-for-Sale - Fair Value | 110,051 | 63,645 |
Securities Available-for-Sale - Unrealized Losses | 4,949 | 1,355 |
Mutual Funds [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - 12 Months or longer - Fair Value | 5,724 | 5,817 |
Securities Available-for-Sale - 12 Months or longer - Unrealized Losses | 275 | 183 |
Securities Available-for-Sale - Fair Value | 5,724 | 5,817 |
Securities Available-for-Sale - Unrealized Losses | 275 | 183 |
Mortgage Backed Securities Non Agency [Member] | ' | ' |
Securities Available-for-Sale | ' | ' |
Securities Available-for-Sale - Less than 12 Months - Fair Value | 94 | ' |
Securities Available-for-Sale - Less than 12 Months - Unrealized Losses | 1 | ' |
Securities Available-for-Sale - Fair Value | 94 | ' |
Securities Available-for-Sale - Unrealized Losses | $1 | ' |
Note_7_Loans_Details
Note 7 - Loans (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Impaired Financing Receivable, Recorded Investment | $188,347,000 | $200,780,000 |
Percentage Of Charge-Off To Contractual Balances For Impaired Loans | 12.60% | 23.90% |
Financing Receivable, Modifications, Recorded Investment | 34,162,000 | 38,769,000 |
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 1 | ' |
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 62,000 | ' |
Reduction Of Stated Interest Rate Member | Minimum [Member] | ' | ' |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Troubled Debt Restructurings Length of Modifications | '7 months | ' |
Reduction Of Stated Interest Rate Member | Maximum [Member] | ' | ' |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Troubled Debt Restructurings Length of Modifications | '2 years | ' |
Nonaccrual Loans [Member] | ' | ' |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Impaired Financing Receivable, Recorded Investment | 65,200,000 | 83,200,000 |
Accruing Troubled Debt Restructuring [Member] | ' | ' |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Impaired Financing Receivable, Recorded Investment | 123,100,000 | 117,600,000 |
Financing Receivable, Modifications, Recorded Investment | 123,089,000 | 117,597,000 |
Accruing Troubled Debt Restructuring [Member] | ' | ' |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 123,100,000 | 117,600,000 |
Allowance for Credit Losses, Change in Method of Calculating Impairment | 8,000,000 | 6,900,000 |
Non Accruing Troubled Debt Restructuring Member | ' | ' |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Financing Receivable, Modifications, Recorded Investment | 34,200,000 | 38,800,000 |
Allowance for Credit Losses, Change in Method of Calculating Impairment | $3,900,000 | $2,200,000 |
Minimum [Member] | ' | ' |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Period Loan Is In Payment Default | '60 days | ' |
Maximum [Member] | ' | ' |
Note 7 - Loans (Details) [Line Items] | ' | ' |
Period Loan Is In Payment Default | '90 days | ' |
Note_7_Loans_Details_Component
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets [Line Items] | ' | ' |
Gross loans | $8,858,254 | $8,084,563 |
Allowance for loan losses | -169,198 | -173,889 |
Unamortized deferred loan fees | -12,903 | -13,487 |
Total loans, net | 8,676,153 | 7,897,187 |
Commercial Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets [Line Items] | ' | ' |
Gross loans | 2,450,118 | 2,298,724 |
Residential Mortgage Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets [Line Items] | ' | ' |
Gross loans | 1,516,711 | 1,355,255 |
Commercial Mortgage Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets [Line Items] | ' | ' |
Gross loans | 4,414,067 | 4,023,051 |
Equity Lines [Member] | ' | ' |
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets [Line Items] | ' | ' |
Gross loans | 172,223 | 171,277 |
Real Estate Construction Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets [Line Items] | ' | ' |
Gross loans | 301,459 | 221,701 |
Installment And Other Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Components of Loans in Consolidated Balance Sheets [Line Items] | ' | ' |
Gross loans | $3,676 | $14,555 |
Note_7_Loans_Details_Impaired_
Note 7 - Loans (Details) - Impaired Loans (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired Loans - Average Recorded Investment | $190,744 | $216,938 | $192,752 | $226,841 |
Impaired Loans - Interest Income Recognized | 1,552 | 1,069 | 4,507 | 4,110 |
Commercial Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired Loans - Average Recorded Investment | 21,706 | 32,187 | 26,741 | 24,873 |
Impaired Loans - Interest Income Recognized | 205 | 166 | 636 | 395 |
Real Estate Construction Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired Loans - Average Recorded Investment | 33,276 | 34,946 | 33,459 | 39,014 |
Impaired Loans - Interest Income Recognized | 66 | 67 | 198 | 199 |
Commercial Mortgage Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired Loans - Average Recorded Investment | 119,611 | 132,921 | 114,663 | 145,380 |
Impaired Loans - Interest Income Recognized | 1,153 | 730 | 3,310 | 3,289 |
Residential Mortgage And Equity Lines Member | ' | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' | ' |
Impaired Loans - Average Recorded Investment | 16,151 | 16,884 | 17,889 | 17,574 |
Impaired Loans - Interest Income Recognized | $128 | $106 | $363 | $227 |
Note_7_Loans_Details_Impaired_1
Note 7 - Loans (Details) - Impaired Loans and Related Allowance for Credit Losses (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
With allocated allowance | ' | ' |
Allowance | $13,814 | $13,284 |
Total impaired loans | 215,509 | 263,848 |
Total impaired loans | 188,347 | 200,780 |
Total impaired loans | 13,814 | 13,284 |
Commercial Loans [Member] | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance, unpaid principal balance | 8,951 | 22,737 |
Loans with related allowance, recorded investment | 6,985 | 13,063 |
Allowance | 2,730 | 2,519 |
Total impaired loans | 2,730 | 2,519 |
Real Estate Construction Loans [Member] | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance, unpaid principal balance | 15,377 | 28,475 |
Loans with related allowance, recorded investment | 15,377 | 19,323 |
Allowance | 2,604 | 3,460 |
Total impaired loans | 2,604 | 3,460 |
Commercial Mortgage Loans [Member] | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance, unpaid principal balance | 33,749 | 39,223 |
Loans with related allowance, recorded investment | 32,973 | 35,613 |
Allowance | 7,999 | 6,584 |
Total impaired loans | 7,999 | 6,584 |
Residential Mortgage And Equity Lines Member | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance, unpaid principal balance | 13,422 | 16,535 |
Loans with related allowance, recorded investment | 12,988 | 14,957 |
Allowance | 481 | 721 |
Total impaired loans | 481 | 721 |
With Allocated Allowance Member | ' | ' |
With allocated allowance | ' | ' |
Loans with related allowance, unpaid principal balance | 71,499 | 106,970 |
Loans with related allowance, recorded investment | 68,323 | 82,956 |
Allowance | 13,814 | 13,284 |
Total impaired loans | 13,814 | 13,284 |
Commercial Loans [Member] | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance, unpaid principal balance | 19,792 | 20,992 |
Loans with no related allowance, recorded investment | 18,764 | 18,905 |
Real Estate Construction Loans [Member] | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance, unpaid principal balance | 37,403 | 25,401 |
Loans with no related allowance, recorded investment | 16,133 | 15,097 |
Commercial Mortgage Loans [Member] | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance, unpaid principal balance | 84,274 | 105,593 |
Loans with no related allowance, recorded investment | 82,586 | 78,930 |
Residential Mortgage And Equity Lines Member | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance, unpaid principal balance | 2,541 | 4,892 |
Loans with no related allowance, recorded investment | 2,541 | 4,892 |
With No Allocated Allowance Member | ' | ' |
With no allocated allowance | ' | ' |
Loans with no related allowance, unpaid principal balance | 144,010 | 156,878 |
Loans with no related allowance, recorded investment | $120,024 | $117,824 |
Note_7_Loans_Details_Aging_of_
Note 7 - Loans (Details) - Aging of Loan Portfolio (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Type of Loans: | ' | ' |
Loans, 30-59 Days Past Due | $9,054 | $30,821 |
Loans, 60-89 Days Past Due | 6,403 | 25,256 |
Loans, Greater than 90 Days Past Due | 662 | 982 |
Non-accrual Loans | 65,258 | 83,183 |
Loans, Past Due | 81,377 | 140,242 |
Loans, Not Past Due | 8,776,877 | 7,944,321 |
Loans | 8,858,254 | 8,084,563 |
Commercial Loans [Member] | ' | ' |
Type of Loans: | ' | ' |
Loans, 30-59 Days Past Due | 8,307 | 7,170 |
Loans, 60-89 Days Past Due | 3,920 | 16,562 |
Loans, Greater than 90 Days Past Due | 662 | ' |
Non-accrual Loans | 8,851 | 21,232 |
Loans, Past Due | 21,740 | 44,964 |
Loans, Not Past Due | 2,428,378 | 2,253,760 |
Loans | 2,450,118 | 2,298,724 |
Real Estate Construction Loans [Member] | ' | ' |
Type of Loans: | ' | ' |
Non-accrual Loans | 25,728 | 28,586 |
Loans, Past Due | 25,728 | 28,586 |
Loans, Not Past Due | 275,731 | 193,115 |
Loans | 301,459 | 221,701 |
Commercial Mortgage Loans [Member] | ' | ' |
Type of Loans: | ' | ' |
Loans, 30-59 Days Past Due | 171 | 20,043 |
Loans, 60-89 Days Past Due | 1,676 | 7,862 |
Loans, Greater than 90 Days Past Due | ' | 982 |
Non-accrual Loans | 23,830 | 19,621 |
Loans, Past Due | 25,677 | 48,508 |
Loans, Not Past Due | 4,388,390 | 3,974,543 |
Loans | 4,414,067 | 4,023,051 |
Residential Mortgage And Equity Lines Member | ' | ' |
Type of Loans: | ' | ' |
Loans, 30-59 Days Past Due | 408 | 3,508 |
Loans, 60-89 Days Past Due | 807 | 832 |
Non-accrual Loans | 6,849 | 13,744 |
Loans, Past Due | 8,064 | 18,084 |
Loans, Not Past Due | 1,680,870 | 1,508,448 |
Loans | 1,688,934 | 1,526,532 |
Installment And Other Loans [Member] | ' | ' |
Type of Loans: | ' | ' |
Loans, 30-59 Days Past Due | 168 | 100 |
Loans, Past Due | 168 | 100 |
Loans, Not Past Due | 3,508 | 14,455 |
Loans | $3,676 | $14,555 |
Note_7_Loans_Details_Troubled_
Note 7 - Loans (Details) - Troubled Debt Restructuring (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Commercial Loans [Member] | Commercial Loans [Member] | Commercial Mortgage Loans [Member] | Commercial Mortgage Loans [Member] | Residential Mortgage Loans [Member] | Residential Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | ||
Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | |||||
Note 7 - Loans (Details) - Troubled Debt Restructuring [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
No. of Loans | ' | ' | 6 | 9 | 3 | 3 | 5 | 11 | 14 | 23 |
Pre-Modification Recorded Investment | ' | ' | $10,773 | $11,705 | $11,818 | $7,474 | $2,226 | $3,736 | $24,817 | $22,915 |
Post-Modification Recorded Investment | ' | ' | 10,773 | 10,516 | 11,818 | 7,474 | 2,226 | 3,658 | 24,817 | 21,648 |
Charge-offs | ' | ' | ' | 1,189 | ' | ' | ' | 78 | ' | 1,267 |
Specific Reserve | $13,814 | $13,284 | $26 | $71 | $564 | $191 | $16 | $125 | $606 | $387 |
Note_7_Loans_Details_Accruing_
Note 7 - Loans (Details) - Accruing Troubled Debt Restructurings (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | $34,162 | $38,769 |
Principal Deferral [Member] | Commercial Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 13,006 | 9,112 |
Principal Deferral [Member] | Commercial Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 19,116 | 11,333 |
Principal Deferral [Member] | Residential Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 3,557 | 1,564 |
Principal Deferral [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 35,679 | 22,009 |
Rate Reduction [Member] | Commercial Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 1,558 | 2,916 |
Rate Reduction [Member] | Commercial Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 8,317 | 9,389 |
Rate Reduction [Member] | Residential Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 1,013 | 1,024 |
Rate Reduction [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 10,888 | 13,329 |
Rate Reduction and Forgiveness of Principal [Member] | Residential Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 216 | ' |
Rate Reduction and Forgiveness of Principal [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 216 | ' |
Rate Reduction and Payment Deferral [Member] | Commercial Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 2,333 | 2,708 |
Rate Reduction and Payment Deferral [Member] | Real Estate Construction Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 5,782 | 5,834 |
Rate Reduction and Payment Deferral [Member] | Commercial Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 64,296 | 70,200 |
Rate Reduction and Payment Deferral [Member] | Residential Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 3,895 | 3,517 |
Rate Reduction and Payment Deferral [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 76,306 | 82,259 |
Commercial Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 16,897 | 14,736 |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 3,654 | 4,218 |
Real Estate Construction Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 5,782 | 5,834 |
Real Estate Construction Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 24,228 | 25,272 |
Commercial Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 91,729 | 90,922 |
Commercial Mortgage Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 4,754 | 5,454 |
Residential Mortgage Loans [Member] | Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 8,681 | 6,105 |
Residential Mortgage Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | 1,526 | 3,825 |
Accruing Troubled Debt Restructuring [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Accuring TDRs | $123,089 | $117,597 |
Note_7_Loans_Details_Nonaccrua
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | $34,162 | $38,769 |
Commercial Loans [Member] | Principal Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 2,186 | 2,866 |
Commercial Loans [Member] | Rate Reduction and Forgiveness of Principal [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 1,225 | 1,352 |
Commercial Loans [Member] | Rate Reduction and Payment Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 243 | ' |
Commercial Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 3,654 | 4,218 |
Real Estate Construction Loans [Member] | Principal Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 15,377 | 16,009 |
Real Estate Construction Loans [Member] | Rate Reduction and Payment Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 8,851 | 9,263 |
Real Estate Construction Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 24,228 | 25,272 |
Commercial Mortgage Loans [Member] | Interest Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 226 | 1,443 |
Commercial Mortgage Loans [Member] | Principal Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 3,159 | 2,168 |
Commercial Mortgage Loans [Member] | Rate Reduction and Payment Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 1,369 | 1,843 |
Commercial Mortgage Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 4,754 | 5,454 |
Residential Mortgage Loans [Member] | Interest Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 213 | 241 |
Residential Mortgage Loans [Member] | Principal Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | ' | 2,206 |
Residential Mortgage Loans [Member] | Rate Reduction and Payment Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 1,313 | 1,378 |
Residential Mortgage Loans [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 1,526 | 3,825 |
Interest Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 439 | 1,684 |
Principal Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 20,722 | 23,249 |
Rate Reduction and Forgiveness of Principal [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | 1,225 | 1,352 |
Rate Reduction and Payment Deferral [Member] | ' | ' |
Note 7 - Loans (Details) - Non-accrual Troubled Debt Restructurings [Line Items] | ' | ' |
Non-accrual TDRs | $11,776 | $12,484 |
Note_7_Loans_Details_Troubled_1
Note 7 - Loans (Details) - Troubled Debt Restructuring Activity (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | Accruing Troubled Debt Restructuring [Member] | Non Accruing Troubled Debt Restructuring Member | Non Accruing Troubled Debt Restructuring Member | Non Accruing Troubled Debt Restructuring Member | Non Accruing Troubled Debt Restructuring Member | ||
Note 7 - Loans (Details) - Troubled Debt Restructuring Activity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $34,162 | $38,769 | $111,136 | $115,464 | $117,597 | $144,695 | $43,605 | $48,524 | $38,769 | $47,731 |
New restructurings | ' | ' | 14,900 | 10,669 | 22,997 | 15,485 | 34 | 2,415 | 1,820 | 6,163 |
Restructured loans restored to accrual status | ' | ' | 660 | 5,397 | 1,622 | 6,851 | -660 | -5,397 | -1,622 | -6,851 |
Charge-offs | ' | ' | ' | ' | ' | -78 | -234 | -1,188 | -833 | -2,121 |
Payments | ' | ' | -3,607 | -15,274 | -11,897 | -48,663 | -8,583 | -1,062 | -11,202 | -3,664 |
Restructured loans placed on nonaccrual | ' | ' | ' | -316 | -7,230 | -2,350 | ' | 316 | 7,230 | 2,350 |
Ending balance | $34,162 | $38,769 | $123,089 | $115,940 | $123,089 | $115,940 | $34,162 | $43,608 | $34,162 | $43,608 |
Note_7_Loans_Details_Portfolio
Note 7 - Loans (Details) - Portfolio by Risk Rating (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $8,858,254 | $8,084,563 |
Commercial Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 2,283,837 | 2,108,191 |
Commercial Loans [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 82,731 | 84,786 |
Commercial Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 80,180 | 102,088 |
Commercial Loans [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,370 | 3,659 |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 2,450,118 | 2,298,724 |
Real Estate Construction Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 267,760 | 184,449 |
Real Estate Construction Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 32,199 | 33,939 |
Real Estate Construction Loans [Member] | Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,500 | 3,313 |
Real Estate Construction Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 301,459 | 221,701 |
Commercial Mortgage Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,124,943 | 3,686,788 |
Commercial Mortgage Loans [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 112,825 | 127,436 |
Commercial Mortgage Loans [Member] | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 176,299 | 208,827 |
Commercial Mortgage Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 4,414,067 | 4,023,051 |
Residential Mortgage And Equity Lines Member | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,679,920 | 1,510,647 |
Residential Mortgage And Equity Lines Member | Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 9,014 | 15,885 |
Residential Mortgage And Equity Lines Member | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 1,688,934 | 1,526,532 |
Installment And Other Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,676 | 14,555 |
Installment And Other Loans [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 3,676 | 14,555 |
Pass [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 8,360,136 | 7,504,630 |
Special Mention [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 195,556 | 212,222 |
Substandard [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | 297,692 | 360,739 |
Doubtful [Member] | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans | $4,870 | $6,972 |
Note_7_Loans_Details_Allowance
Note 7 - Loans (Details) - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Method (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Loans individually evaluated for impairment | ' | ' |
Loans individually evaluated for impairment, allowance | $13,814 | $13,284 |
Loans individually evaluated for impairment, balance | 188,347 | 200,780 |
Loans collectively evaluated for impairment | ' | ' |
Loans collectively evaluated for impairment, allowance | 155,384 | 160,605 |
Loans collectively evaluated for impairment, balance | 8,669,907 | 7,883,783 |
Loans, allowance | 169,198 | 173,889 |
Loans | 8,858,254 | 8,084,563 |
Commercial Loans [Member] | ' | ' |
Loans individually evaluated for impairment | ' | ' |
Loans individually evaluated for impairment, allowance | 2,730 | 2,519 |
Loans individually evaluated for impairment, balance | 25,749 | 31,968 |
Loans collectively evaluated for impairment | ' | ' |
Loans collectively evaluated for impairment, allowance | 53,566 | 62,584 |
Loans collectively evaluated for impairment, balance | 2,424,369 | 2,266,756 |
Loans, allowance | 56,296 | 65,103 |
Loans | 2,450,118 | 2,298,724 |
Real Estate Construction Loans [Member] | ' | ' |
Loans individually evaluated for impairment | ' | ' |
Loans individually evaluated for impairment, allowance | 2,604 | 3,460 |
Loans individually evaluated for impairment, balance | 31,510 | 34,420 |
Loans collectively evaluated for impairment | ' | ' |
Loans collectively evaluated for impairment, allowance | 32,099 | 8,539 |
Loans collectively evaluated for impairment, balance | 269,949 | 187,281 |
Loans, allowance | 34,703 | 11,999 |
Loans | 301,459 | 221,701 |
Commercial Mortgage Loans [Member] | ' | ' |
Loans individually evaluated for impairment | ' | ' |
Loans individually evaluated for impairment, allowance | 7,999 | 6,584 |
Loans individually evaluated for impairment, balance | 115,559 | 114,544 |
Loans collectively evaluated for impairment | ' | ' |
Loans collectively evaluated for impairment, allowance | 58,740 | 78,169 |
Loans collectively evaluated for impairment, balance | 4,298,508 | 3,908,507 |
Loans, allowance | 66,739 | 84,753 |
Loans | 4,414,067 | 4,023,051 |
Residential Mortgage And Equity Lines Member | ' | ' |
Loans individually evaluated for impairment | ' | ' |
Loans individually evaluated for impairment, allowance | 481 | 721 |
Loans individually evaluated for impairment, balance | 15,529 | 19,848 |
Loans collectively evaluated for impairment | ' | ' |
Loans collectively evaluated for impairment, allowance | 10,962 | 11,284 |
Loans collectively evaluated for impairment, balance | 1,673,405 | 1,506,684 |
Loans, allowance | 11,443 | 12,005 |
Loans | 1,688,934 | 1,526,532 |
Installment And Other Loans [Member] | ' | ' |
Loans collectively evaluated for impairment | ' | ' |
Loans collectively evaluated for impairment, allowance | 17 | 29 |
Loans collectively evaluated for impairment, balance | 3,676 | 14,555 |
Loans, allowance | 17 | 29 |
Loans | $3,676 | $14,555 |
Note_7_Loans_Details_Allowance1
Note 7 - Loans (Details) - Allowance for Loan Losses by Portfolio Segment (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Provision/(credit) for possible credit losses | ' | ' | $1,693 | ($675) |
Commercial Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance | 63,239 | 64,379 | 65,103 | 66,101 |
Provision/(credit) for possible credit losses | -10,839 | 2,121 | -12,067 | 3,200 |
Charge-offs | -252 | -200 | -7,592 | -4,580 |
Recoveries | 4,148 | 436 | 10,852 | 2,015 |
Net (charge-offs)/recoveries | 3,896 | 236 | 3,260 | -2,565 |
Balance | 56,296 | 66,736 | 56,296 | 66,736 |
Reserve for impaired loans | 2,730 | 10,849 | 2,730 | 10,849 |
Reserve for non-impaired loans | 53,566 | 55,887 | 53,566 | 55,887 |
Reserve for off-balance sheet credit commitments | 901 | 953 | 901 | 953 |
Real Estate Construction Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance | 9,555 | 13,755 | 11,999 | 23,017 |
Provision/(credit) for possible credit losses | 25,116 | 1,660 | 24,460 | -8,622 |
Charge-offs | ' | ' | -1,813 | ' |
Recoveries | 32 | 1,236 | 57 | 2,256 |
Net (charge-offs)/recoveries | 32 | 1,236 | -1,756 | 2,256 |
Balance | 34,703 | 16,651 | 34,703 | 16,651 |
Reserve for impaired loans | 2,604 | 5,691 | 2,604 | 5,691 |
Reserve for non-impaired loans | 32,099 | 10,960 | 32,099 | 10,960 |
Reserve for off-balance sheet credit commitments | 668 | 287 | 668 | 287 |
Commercial Mortgage Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance | 83,395 | 89,678 | 84,753 | 82,473 |
Provision/(credit) for possible credit losses | -17,950 | -5,710 | -20,991 | 935 |
Charge-offs | -903 | -394 | -3,327 | -3,425 |
Recoveries | 2,197 | 2,514 | 6,304 | 6,105 |
Net (charge-offs)/recoveries | 1,294 | 2,120 | 2,977 | 2,680 |
Balance | 66,739 | 86,088 | 66,739 | 86,088 |
Reserve for impaired loans | 7,999 | 6,129 | 7,999 | 6,129 |
Reserve for non-impaired loans | 58,740 | 79,959 | 58,740 | 79,959 |
Reserve for off-balance sheet credit commitments | 410 | 799 | 410 | 799 |
Residential Mortgage And Equity Lines Member | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance | 12,870 | 11,892 | 12,005 | 11,703 |
Provision/(credit) for possible credit losses | -1,427 | 52 | -562 | 780 |
Charge-offs | ' | -160 | ' | -766 |
Recoveries | ' | 158 | ' | 225 |
Net (charge-offs)/recoveries | ' | -2 | ' | -541 |
Balance | 11,443 | 11,942 | 11,443 | 11,942 |
Reserve for impaired loans | 481 | 693 | 481 | 693 |
Reserve for non-impaired loans | 10,962 | 11,249 | 10,962 | 11,249 |
Reserve for off-balance sheet credit commitments | 39 | 34 | 39 | 34 |
Installment And Other Loans [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance | 18 | 29 | 29 | 28 |
Provision/(credit) for possible credit losses | -1 | 6 | -12 | -4 |
Recoveries | ' | ' | ' | 11 |
Net (charge-offs)/recoveries | ' | ' | ' | 11 |
Balance | 17 | 35 | 17 | 35 |
Reserve for impaired loans | 0 | ' | 0 | ' |
Reserve for non-impaired loans | 17 | 35 | 17 | 35 |
Reserve for off-balance sheet credit commitments | ' | 1 | ' | 1 |
Total [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Balance | 169,077 | 179,733 | 173,889 | 183,322 |
Provision/(credit) for possible credit losses | -5,101 | -1,871 | -9,172 | -3,711 |
Charge-offs | -1,155 | -754 | -12,732 | -8,771 |
Recoveries | 6,377 | 4,344 | 17,213 | 10,612 |
Net (charge-offs)/recoveries | 5,222 | 3,590 | 4,481 | 1,841 |
Balance | 169,198 | 181,452 | 169,198 | 181,452 |
Reserve for impaired loans | 13,814 | 23,362 | 13,814 | 23,362 |
Reserve for non-impaired loans | 155,384 | 158,090 | 155,384 | 158,090 |
Reserve for off-balance sheet credit commitments | $2,018 | $2,074 | $2,018 | $2,074 |
Note_9_Borrowed_Funds_Details
Note 9 - Borrowed Funds (Details) (USD $) | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | |
Callable Securities [Member] | Securities Sold under Agreements to Repurchase [Member] | Securities Sold Under Agreements to Repurchase Minimum [Member] | Securities Sold Under Agreements to Repurchase Maximum Initial Rate [Member] | Floating to Fixed Rate Agreements Totaling $300 Million [Member] | Floating to Fixed Rate Agreements Totaling $300 Million [Member] | Floating to Fixed Rate Agreements Totaling $300 Million [Member] | Securities Sold under Agreements to Repurchase [Member] | Securities Sold under Agreements to Repurchase [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ||||
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | |||||||||||
Maximum [Member] | ||||||||||||||
Note 9 - Borrowed Funds (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities Sold under Agreements to Repurchase (in Dollars) | $550,000,000 | $800,000,000 | ' | $350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Rate Of Securities Sold Under Agreements | 3.78% | 3.87% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid Security Sold Under Repurchase Agreement (in Dollars) | 100,000,000 | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rate of Prepaid Security Sold Under Repurchase Agreements | 3.50% | ' | 3.97% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepayment Penalty Security Sold Under Agreements To Repurchase (in Dollars) | 3,400,000 | ' | 15,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Floating-To-Fixed Rate Agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' |
Total Floating To Fixed Rate (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | 3.40% | ' | ' | ' | ' | ' | ' | ' | 3.50% | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 1.00% | 3.50% | 5.07% | 4.89% | ' | ' | ' | ' | 8.00% |
Number Of Fixed-To-Floating Security Sold Under Agreements To Repurchase | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Fixed To Floating Rate Agreements (in Dollars) | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Securities Pledged As Collateral (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 629,300,000 | 906,100,000 | ' | ' |
Advances from Federal Home Loan Banks (in Dollars) | $555,000,000 | $521,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 0.12% | 0.17% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_9_Borrowed_Funds_Details_
Note 9 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase (Callable [Member], USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Fixed to Floating One Hundred Million With Two Agreements at Three Point Five Percent [Member] | ' |
Note 9 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maximum rate | 3.50% |
Minimum rate | 0.00% |
No. of agreements | 2 |
Amount (in Dollars) | $100,000 |
Weighted average rate | 3.50% |
Final maturity | '2014 |
Fixed to Floating Fifty Million With One Agreement at Three Point Five Percent [Member] | ' |
Note 9 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maximum rate | 3.50% |
Minimum rate | 0.00% |
No. of agreements | 1 |
Amount (in Dollars) | 50,000 |
Weighted average rate | 3.50% |
Final maturity | '2015 |
Floating To Fixed Two Hundred Million [Member] | ' |
Note 9 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of agreements | 4 |
Amount (in Dollars) | 200,000 |
Weighted average rate | 5.00% |
Final maturity | '2017 |
Floating To Fixed Three Hundred Fifty Million [Member] | ' |
Note 9 - Borrowed Funds (Details) - Callable Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of agreements | 7 |
Amount (in Dollars) | $350,000 |
Weighted average rate | 4.36% |
Note_9_Borrowed_Funds_Details_1
Note 9 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase (Securities Sold under Agreements to Repurchase [Member], USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Note 9 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of Agreements | 4 |
Amount (in Dollars) | 200,000 |
Weighted Average Interest Rate | 2.78% |
Maturing One to Three Years [Member] | Minimum [Member] | ' |
Note 9 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maturity | '1 year |
Maturing One to Three Years [Member] | Maximum [Member] | ' |
Note 9 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maturity | '3 years |
Maturing One to Three Years [Member] | ' |
Note 9 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of Agreements | 2 |
Amount (in Dollars) | 100,000 |
Weighted Average Interest Rate | 2.71% |
Maturing in Three to Five Years [Member] | Minimum [Member] | ' |
Note 9 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maturity | '3 years |
Maturing in Three to Five Years [Member] | Maximum [Member] | ' |
Note 9 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
Maturity | '5 years |
Maturing in Three to Five Years [Member] | ' |
Note 9 - Borrowed Funds (Details) - Securities Sold Under Agreements to Repurchase [Line Items] | ' |
No. of Agreements | 2 |
Amount (in Dollars) | 100,000 |
Weighted Average Interest Rate | 2.86% |
Note_9_Borrowed_Funds_Details_2
Note 9 - Borrowed Funds (Details) - Outstanding Advances (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
'90 years | ' | |
$530,000 | $475,000 | |
0.07% | 0.06% | |
25,000 | 46,200 | |
1.13% | 1.24% | |
$555,000 | $521,200 | |
0.12% | 0.17% | |
Minimum [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
'4 years | ' | |
Maximum [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
'5 years | ' |
Note_10_Income_Taxes_Details
Note 10 - Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | $22,313,000 | $19,029,000 | $60,944,000 | $52,489,000 | ' |
Effective Income Tax Rate Reconciliation, Percent | ' | ' | 37.30% | 36.50% | ' |
Income Tax Refund Receivable | ' | ' | ' | ' | $8,600,000 |
Note_11_Fair_Value_Measurement2
Note 11 - Fair Value Measurements (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 |
Warrants Outstanding [Member] | Warrants Outstanding [Member] | Net of Estimated Disposal Costs [Member] | Net of Estimated Disposal Costs [Member] | Accounts Receivable Collateral [Member] | Inventory Collateral [Member] | Minimum [Member] | Maximum [Member] | |||
Minimum [Member] | Maximum [Member] | |||||||||
Note 11 - Fair Value Measurements (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Warrants (in Dollars) | $12,000 | $30,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Expected Life of Warrants | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '4 years |
Fair Value Assumptions, Risk Free Interest Rate | ' | ' | 0.59% | 1.43% | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Volatility Rate | ' | ' | 9.40% | 13.00% | ' | ' | ' | ' | ' | ' |
Other Real Estate, Foreclosed Assets, and Repossessed Assets (in Dollars) | $29,025,000 | $52,985,000 | ' | ' | $29,000,000 | $53,000,000 | ' | ' | ' | ' |
Collateral Discount Rates | ' | ' | ' | ' | ' | ' | 55.00% | 65.00% | ' | ' |
Estimated Sales Cost Applied To Collateral | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 6.00% |
Note_11_Fair_Value_Measurement3
Note 11 - Fair Value Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | $1,340,092 | $1,586,668 |
Total Assets | 1,342,482 | 1,597,816 |
Liabilities | ' | ' |
Total Liabilities | 4,717 | 6,140 |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 540,088 | 460,193 |
US Treasury Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 540,088 | 460,193 |
Mortgage-backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 683,324 | 952,815 |
Mortgage-backed Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 683,324 | 952,815 |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 46 | 6,106 |
Collateralized Mortgage Obligations [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 46 | 6,106 |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 94,337 | 150,304 |
Corporate Debt Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 94,337 | 150,304 |
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 5,817 | 5,724 |
Mutual Funds [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 5,817 | 5,725 |
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 9,252 | 11,403 |
Preferred Stock of Government Sponsored Entities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 9,252 | 11,403 |
Other Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 7,228 | ' |
Other Equity Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 7,228 | ' |
Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 12 | 30 |
Warrant [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 12 | 30 |
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 442 | ' |
Liabilities | ' | ' |
Total Liabilities | 280 | ' |
Interest Rate Swap [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 442 | ' |
Liabilities | ' | ' |
Total Liabilities | 280 | ' |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 1,936 | 6,182 |
Liabilities | ' | ' |
Total Liabilities | 4,437 | 6,140 |
Foreign Exchange Contract [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | 1,936 | 6,182 |
Liabilities | ' | ' |
Total Liabilities | 4,437 | 6,140 |
Trust Preferred Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | ' | 123 |
Trust Preferred Securities [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | ' | 123 |
Trading Securities Member | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | ' | 4,936 |
Trading Securities Member | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | ' | 4,936 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 553,133 | 465,917 |
Total Assets | 553,133 | 465,917 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Available-for-sale Securities - Fair Value | 786,959 | 1,120,751 |
Total Assets | 789,337 | 1,131,869 |
Liabilities | ' | ' |
Total Liabilities | 4,717 | 6,140 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities available-for-sale | ' | ' |
Total Assets | $12 | $30 |
Note_11_Fair_Value_Measurement4
Note 11 - Fair Value Measurements (Details) - Assets and Liabilities Measured on a Non-Recurring Basis (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | $78,657 | ' | $78,657 | ' | $116,001 | ' | ||||||
Total losses / (Gains) | 548 | 749 | 1,158 | 214 | 3,344 | 12,666 | ||||||
Commercial Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 4,255 | ' | 4,255 | ' | 7,584 | ' | ||||||
Commercial Loans [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 4,255 | ' | 4,255 | ' | 7,584 | ' | ||||||
Total losses / (Gains) | ' | ' | 17 | 536 | 5,731 | ' | ||||||
Commercial Mortgage Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 24,974 | ' | 24,974 | ' | 29,001 | ' | ||||||
Commercial Mortgage Loans [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 24,974 | ' | 24,974 | ' | 29,001 | ' | ||||||
Total losses / (Gains) | 515 | 394 | 515 | 459 | 125 | 440 | ||||||
Real Estate Construction Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 12,773 | ' | 12,773 | ' | ' | ' | ||||||
Real Estate Construction Loans [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 12,773 | ' | 12,773 | ' | ' | ' | ||||||
Residential Mortgage And Equity Lines Member | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 12,507 | ' | 12,507 | ' | 14,236 | ' | ||||||
Residential Mortgage And Equity Lines Member | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 12,507 | ' | 12,507 | ' | 14,236 | ' | ||||||
Total losses / (Gains) | 32 | 160 | 32 | 191 | 213 | 605 | ||||||
Fair Value, Inputs, Level 1 [Member] | Other Real Estate Owned [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | ' | [1] | ' | ' | [1] | ' | ' | [2] | ' | |||
Fair Value, Inputs, Level 1 [Member] | Equity Investments [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | ' | ' | ' | ' | 642 | ' | ||||||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | ' | ' | ' | ' | 642 | ' | ||||||
Fair Value, Inputs, Level 2 [Member] | Other Real Estate Owned [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 14,340 | [1] | ' | 14,340 | [1] | ' | 13,248 | [2] | ' | |||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 14,340 | ' | 14,340 | ' | 13,248 | ' | ||||||
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 54,509 | ' | 54,509 | ' | 66,713 | ' | ||||||
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 4,110 | [1] | ' | 4,110 | [1] | ' | 26,498 | [2] | ' | |||
Fair Value, Inputs, Level 3 [Member] | Equity Investments [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 5,698 | ' | 5,698 | ' | ' | ' | ||||||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 64,317 | ' | 64,317 | ' | 102,111 | ' | ||||||
Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 54,509 | ' | 54,509 | ' | 66,713 | ' | ||||||
Total losses / (Gains) | 547 | 554 | 564 | 1,186 | 6,069 | 1,272 | ||||||
Other Real Estate Owned [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 18,450 | [1] | ' | 18,450 | [1] | ' | 39,746 | [2] | ' | |||
Total losses / (Gains) | -48 | [1] | 111 | [1] | 277 | [1] | -1,267 | [1] | -3,134 | [2] | 10,904 | [2] |
Equity Investments [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets measured on a non-recurring basis | 5,698 | ' | 5,698 | ' | 642 | ' | ||||||
Total losses / (Gains) | $49 | $84 | $317 | $295 | ' | $181 | ||||||
[1] | Other real estate owned balance of $29.0 million in the condensed consolidated balance sheet is net of estimated disposal costs. | |||||||||||
[2] | Other real estate owned balance of $53.0 million in the consolidated balance sheet is net of estimated disposal costs. |
Note_11_Fair_Value_Measurement5
Note 11 - Fair Value Measurements (Details) - Financial Asset and Liabilities Measured on a Non-Recurring Basis - Prior Year (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | $78,657 | ' | $78,657 | ' | $116,001 | ' | ||||||
Total Losses / (Gains) | 548 | 749 | 1,158 | 214 | 3,344 | 12,666 | ||||||
Commercial Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 4,255 | ' | 4,255 | ' | 7,584 | ' | ||||||
Commercial Loans [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 4,255 | ' | 4,255 | ' | 7,584 | ' | ||||||
Total Losses / (Gains) | ' | ' | 17 | 536 | 5,731 | ' | ||||||
Commercial Mortgage Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 24,974 | ' | 24,974 | ' | 29,001 | ' | ||||||
Commercial Mortgage Loans [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 24,974 | ' | 24,974 | ' | 29,001 | ' | ||||||
Total Losses / (Gains) | 515 | 394 | 515 | 459 | 125 | 440 | ||||||
Construction Residential [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 500 | ' | ||||||
Construction Residential [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 500 | ' | ||||||
Construction - Other Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 15,363 | ' | ||||||
Construction - Other Loans [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 15,363 | ' | ||||||
Total Losses / (Gains) | ' | ' | ' | ' | ' | 65 | ||||||
Residential Mortgage And Equity Lines Member | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 12,507 | ' | 12,507 | ' | 14,236 | ' | ||||||
Residential Mortgage And Equity Lines Member | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 12,507 | ' | 12,507 | ' | 14,236 | ' | ||||||
Total Losses / (Gains) | 32 | 160 | 32 | 191 | 213 | 605 | ||||||
Land Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 29 | ' | ||||||
Land Loans [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 29 | ' | ||||||
Total Losses / (Gains) | ' | ' | ' | ' | ' | 162 | ||||||
Fair Value, Inputs, Level 1 [Member] | Other Real Estate Owned [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | [1] | ' | ' | [1] | ' | ' | [2] | ' | |||
Fair Value, Inputs, Level 1 [Member] | Equity Investments [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 642 | ' | ||||||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 642 | ' | ||||||
Fair Value, Inputs, Level 2 [Member] | Other Real Estate Owned [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 14,340 | [1] | ' | 14,340 | [1] | ' | 13,248 | [2] | ' | |||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 14,340 | ' | 14,340 | ' | 13,248 | ' | ||||||
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 54,509 | ' | 54,509 | ' | 66,713 | ' | ||||||
Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 4,110 | [1] | ' | 4,110 | [1] | ' | 26,498 | [2] | ' | |||
Fair Value, Inputs, Level 3 [Member] | Investments in Venture Capital [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 8,900 | ' | ||||||
Fair Value, Inputs, Level 3 [Member] | Equity Investments [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 5,698 | ' | 5,698 | ' | ' | ' | ||||||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 64,317 | ' | 64,317 | ' | 102,111 | ' | ||||||
Impaired Loans [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 54,509 | ' | 54,509 | ' | 66,713 | ' | ||||||
Total Losses / (Gains) | 547 | 554 | 564 | 1,186 | 6,069 | 1,272 | ||||||
Other Real Estate Owned [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 18,450 | [1] | ' | 18,450 | [1] | ' | 39,746 | [2] | ' | |||
Total Losses / (Gains) | -48 | [1] | 111 | [1] | 277 | [1] | -1,267 | [1] | -3,134 | [2] | 10,904 | [2] |
Investments in Venture Capital [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | ' | ' | ' | ' | 8,900 | ' | ||||||
Total Losses / (Gains) | ' | ' | ' | ' | 409 | 309 | ||||||
Equity Investments [Member] | ' | ' | ' | ' | ' | ' | ||||||
Assets | ' | ' | ' | ' | ' | ' | ||||||
Fair Value of Assets Measured at Fair Value on a Non-Recurring Basis | 5,698 | ' | 5,698 | ' | 642 | ' | ||||||
Total Losses / (Gains) | $49 | $84 | $317 | $295 | ' | $181 | ||||||
[1] | Other real estate owned balance of $29.0 million in the condensed consolidated balance sheet is net of estimated disposal costs. | |||||||||||
[2] | Other real estate owned balance of $53.0 million in the consolidated balance sheet is net of estimated disposal costs. |
Note_12_Fair_Value_of_Financia2
Note 12 - Fair Value of Financial Instruments (Details) - Fair Value of Financial Instruments (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | $200,302 | $153,747 | $201,815 | $144,909 |
Cash and due from banks | 200,302 | 153,747 | ' | ' |
Short-term investments | 597,747 | 516,938 | ' | ' |
Short-term investments | 597,747 | 516,938 | ' | ' |
Securities available-for-sale | 1,340,092 | 1,586,668 | ' | ' |
Trading securities | ' | 4,936 | ' | ' |
Loans, net | 8,576,545 | 7,760,490 | ' | ' |
Investment in Federal Home Loan Bank stock | 34,090 | 25,000 | ' | ' |
Investment in Federal Home Loan Bank stock | 34,090 | 25,000 | ' | ' |
Warrants | 12 | 30 | ' | ' |
Deposits | 8,694,669 | 7,981,305 | ' | ' |
Deposits | 8,692,118 | 7,977,639 | ' | ' |
Securities sold under agreements to repurchase | 550,000 | 800,000 | ' | ' |
Securities sold under agreements to repurchase | 576,670 | 852,835 | ' | ' |
Advances from Federal Home Loan Bank | 555,000 | 521,200 | ' | ' |
Advances from Federal Home Loan Bank | 555,000 | 521,560 | ' | ' |
Other borrowings | 15,853 | 16,107 | ' | ' |
Long-term debt | 119,136 | 121,136 | ' | ' |
Long-term debt | 59,425 | 58,970 | ' | ' |
Carrying Amount [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | 200,302 | 153,747 | ' | ' |
Short-term investments | 597,747 | 516,938 | ' | ' |
Short-term investments | 597,747 | 516,938 | ' | ' |
Securities available-for-sale | 1,340,092 | 1,586,668 | ' | ' |
Trading securities | ' | 4,936 | ' | ' |
Loans, net | 8,676,153 | 7,897,187 | ' | ' |
Investment in Federal Home Loan Bank stock | 34,090 | 25,000 | ' | ' |
Warrants | 12 | 30 | ' | ' |
Option contracts | ' | 200 | ' | ' |
Foreign exchange contracts | 183,753 | 267,644 | ' | ' |
Interest rate swaps | 147,358 | ' | ' | ' |
Deposits | 8,694,669 | 7,981,305 | ' | ' |
Securities sold under agreements to repurchase | 550,000 | 800,000 | ' | ' |
Advances from Federal Home Loan Bank | 555,000 | 521,200 | ' | ' |
Other borrowings | 18,882 | 19,062 | ' | ' |
Long-term debt | 119,136 | 121,136 | ' | ' |
Foreign exchange contracts | 201,240 | 236,350 | ' | ' |
Interest rate swaps | 119,136 | ' | ' | ' |
Off-Balance Sheet Financial Instruments | ' | ' | ' | ' |
Commitments to extend credit | 1,839,039 | 1,858,669 | ' | ' |
Standby letters of credit | 54,304 | 45,058 | ' | ' |
Other letters of credit | 49,623 | 54,098 | ' | ' |
Bill of lading guarantees | 51 | 80 | ' | ' |
Fair Value [Member] | ' | ' | ' | ' |
Financial Assets | ' | ' | ' | ' |
Cash and due from banks | 200,302 | 153,747 | ' | ' |
Short-term investments | 597,747 | 516,938 | ' | ' |
Short-term investments | 597,747 | 516,938 | ' | ' |
Securities available-for-sale | 1,340,092 | 1,586,668 | ' | ' |
Trading securities | ' | 4,936 | ' | ' |
Loans, net | 8,576,545 | 7,760,490 | ' | ' |
Investment in Federal Home Loan Bank stock | 34,090 | 25,000 | ' | ' |
Warrants | 12 | 30 | ' | ' |
Option contracts | ' | 0 | ' | ' |
Foreign exchange contracts | 1,936 | 6,182 | ' | ' |
Interest rate swaps | 442 | ' | ' | ' |
Deposits | 8,692,118 | 7,977,639 | ' | ' |
Securities sold under agreements to repurchase | 576,670 | 852,835 | ' | ' |
Advances from Federal Home Loan Bank | 555,000 | 521,560 | ' | ' |
Other borrowings | 15,853 | 16,107 | ' | ' |
Long-term debt | 59,425 | 58,970 | ' | ' |
Foreign exchange contracts | 4,437 | 6,140 | ' | ' |
Interest rate swaps | 280 | ' | ' | ' |
Off-Balance Sheet Financial Instruments | ' | ' | ' | ' |
Commitments to extend credit | -3,160 | -2,187 | ' | ' |
Standby letters of credit | -331 | -205 | ' | ' |
Other letters of credit | ($29) | ($34) | ' | ' |
Note_12_Fair_Value_of_Financia3
Note 12 - Fair Value of Financial Instruments (Details) - Fair Value Hierarchy of Financial Instruments (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial Assets | ' | ' |
Cash and due from banks | $200,302 | $153,747 |
Short-term investments | 597,747 | 516,938 |
Securities available-for-sale | 1,340,092 | 1,586,668 |
Trading securities | ' | 4,936 |
Loans, net | 8,576,545 | 7,760,490 |
Investment in Federal Home Loan Bank stock | 34,090 | 25,000 |
Warrants | 12 | 30 |
Financial Liabilities | ' | ' |
Deposits | 8,692,118 | 7,977,639 |
Securities sold under agreement to repurchase | 576,670 | 852,835 |
Advances from Federal Home Loan Bank | 555,000 | 521,560 |
Other borrowings | 15,853 | 16,107 |
Long-term debt | 59,425 | 58,970 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Financial Assets | ' | ' |
Cash and due from banks | 200,302 | 153,747 |
Short-term investments | 597,747 | 516,938 |
Securities available-for-sale | 553,133 | 465,917 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Financial Assets | ' | ' |
Securities available-for-sale | 786,959 | 1,120,751 |
Trading securities | ' | 4,936 |
Investment in Federal Home Loan Bank stock | 34,090 | 25,000 |
Financial Liabilities | ' | ' |
Securities sold under agreement to repurchase | 576,670 | 852,835 |
Advances from Federal Home Loan Bank | 555,000 | 521,560 |
Long-term debt | 59,425 | 58,970 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Financial Assets | ' | ' |
Loans, net | 8,576,545 | 7,760,490 |
Warrants | 12 | 30 |
Financial Liabilities | ' | ' |
Deposits | 8,692,118 | 7,977,639 |
Other borrowings | $15,853 | $16,107 |
Note_14_Financial_Derivatives_
Note 14 - Financial Derivatives (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2014 | Sep. 30, 2014 | 31-May-14 | Sep. 30, 2014 | Sep. 30, 2014 | 31-May-14 | Sep. 30, 2014 | 31-May-14 | Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | 31-May-14 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | |
Interest Expense [Member] | Interest Expense [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Positive Fair Value Member | Positive Fair Value Member | Negative Fair Value Member | Negative Fair Value Member | Cash [Member] | ||||
Interest Rate Swap [Member] | Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | |||||||||
Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | Fair Value Hedging [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||||
Cash Flow Hedging [Member] | Cash Flow Hedging [Member] | Weighted Average [Member] | Minimum [Member] | Maximum [Member] | Weighted Average [Member] | ||||||||||||||||
Note 14 - Financial Derivatives (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Asset, Number of Instruments Held | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | ' | ' | ' | ' | ' | ' | $119,100,000 | ($119,100,000) | ' | ' | ' | $147,400,000 | $147,400,000 | $148,100,000 | ' | ' | ' | ' | ' | ' |
Derivative, Original Maturity | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | '4 years | '8 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Junior Subordinated Notes | ' | ' | 119,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Average Fixed Interest Rate | ' | ' | ' | ' | ' | 2.61% | ' | ' | ' | ' | ' | ' | ' | ' | 4.67% | ' | ' | ' | ' | ' | ' |
Derivative, Average Variable Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.13% | 3.13% | ' | 0.23% | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 100,000 | -163,000 | ' | ' | ' | ' | -163,000 | ' | ' | ' | ' | 442,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | ' | ' | ' | 723,000 | 824,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative Liability, Number of Instruments Held | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' |
Derivative, Average Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.98% | 2.98% | ' | ' | ' | ' | ' | ' | ' |
Net Settlement of Derivatives Reducing Interest Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 580,000 | 606,000 | ' | ' | ' | ' | ' | ' | ' |
Collateral Already Posted, Aggregate Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,300,000 |
Notional Amount Of Option Contract | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' |
Sum of Spot and Forward Contract Notional Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183,800,000 | 267,600,000 | 201,200,000 | 236,300,000 | ' |
Increase Decrease in Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,900,000 | 6,200,000 | -4,400,000 | -6,100,000 | ' |
Open Option Contracts Written, at Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $83 | ' | ' | ' |
Note_15_Balance_Sheet_Offsetti2
Note 15 - Balance Sheet Offsetting (Details) - Financial Instruments that are Eligible for Offset in the Consolidated Balance Sheet (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Assets: | ' | ' |
Derivatives | $442,000 | ' |
Derivatives | 442 | ' |
Derivatives | -442 | ' |
Liabilities: | ' | ' |
Gross Amounts of Recognized Liabilities | 550,000,000 | 800,000,000 |
Net Amounts of Liabilities Presented in the Statement of Financial Position | 550,000,000 | 800,000,000 |
Collateral Posted | -550,000,000 | -800,000,000 |
Derivatives | 280,000 | ' |
Derivatives | 280,000 | ' |
Derivatives | ($280,000) | ' |
Note_16_Stockholders_Equity_De
Note 16 - Stockholders' Equity (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' | ' | ' | ' | ' |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $1,570,384,000 | ' | $1,570,384,000 | ' | $1,458,971,000 |
Increase (Decrease) in Total Equity | ' | ' | 111,400,000 | ' | ' |
Percentage Change in Total Equity | ' | ' | 7.60% | ' | ' |
Net Income (Loss) Attributable to Parent | 35,909,000 | 32,478,000 | 102,252,000 | 91,241,000 | ' |
Other Comprehensive Income (Loss), Net of Tax | 61,000 | -6,110,000 | 20,894,000 | -21,648,000 | ' |
Dividends, Common Stock, Cash | ' | ' | $15,100,000 | ' | ' |
Note_16_Stockholders_Equity_De1
Note 16 - Stockholders' Equity (Details) - Accumulated Other Comprehensive Income - Three Months (USD $) | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |||||
Beginning balance, loss net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprenhensive Income, Net of Tax | ($8,896,000) | ($15,073,000) | ($29,729,000) | $465,000 | ($8,935,000) | ($8,896,000) | ($29,729,000) | ($21,183,000) | ($15,073,000) | $465,000 | $100,000 |
Net unrealized gains/(losses) arising during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | 292,000 | -1,854,000 | 43,157,000 | -48,245,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | 122,000 | -780,000 | 18,143,000 | -20,282,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | 170,000 | -1,074,000 | 25,014,000 | -5,908,000 | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 171,000 | ' | -281,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 71,000 | ' | -118,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 100,000 | ' | -163,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Total | 463,000 | -1,854,000 | 42,876,000 | -48,245,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 193,000 | -780,000 | 18,025,000 | -20,282,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 270,000 | -1,074,000 | 24,851,000 | -27,963,000 | ' | ' | ' | ' | ' | ' | ' |
Reclassification adjustment for net losses in net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -361,000 | -8,688,000 | -6,827,000 | -27,157,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -152,000 | -3,652,000 | -2,870,000 | -11,417,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -209,000 | -5,036,000 | -3,957,000 | -15,740,000 | ' | ' | ' | ' | ' | ' | ' |
Total | -361,000 | -8,688,000 | -6,827,000 | -27,157,000 | ' | ' | ' | ' | ' | ' | ' |
Total | -152,000 | -3,652,000 | -2,870,000 | -11,417,000 | ' | ' | ' | ' | ' | ' | ' |
Total | -209,000 | -5,036,000 | -3,957,000 | -15,740,000 | ' | ' | ' | ' | ' | ' | ' |
Total other comprehensive (loss)/income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -69,000 | -10,542,000 | 36,330,000 | -37,350,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -30,000 | -4,432,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -39,000 | -6,110,000 | 21,057,000 | -21,648,000 | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 171,000 | ' | -281,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 71,000 | ' | -118,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 100,000 | ' | -163,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Total | 102,000 | -10,542,000 | 36,049,000 | -37,350,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 41,000 | -4,432,000 | 15,155,000 | -15,702,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 61,000 | -6,110,000 | 20,894,000 | -21,648,000 | ' | ' | ' | ' | ' | ' | ' |
Ending balance, (loss)/income net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprenhensive Income, Net of Tax | ($8,835,000) | ($21,183,000) | ($8,835,000) | ($21,183,000) | ($8,935,000) | ($8,896,000) | ($29,729,000) | ($21,183,000) | ($15,073,000) | $465,000 | $100,000 |
Note_16_Stockholders_Equity_De2
Note 16 - Stockholders' Equity (Details) - Accumulated Other Comprehensive Income - Nine Months (USD $) | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | |
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | |||||
Beginning balance, (loss)/income net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprenhensive Income, Net of Tax | ($8,896,000) | ($15,073,000) | ($29,729,000) | $465,000 | ($8,935,000) | ($8,896,000) | ($29,729,000) | ($21,183,000) | ($15,073,000) | $465,000 | $100,000 |
Net unrealized gains/(losses) arising during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | 292,000 | -1,854,000 | 43,157,000 | -48,245,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | 122,000 | -780,000 | 18,143,000 | -20,282,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | 170,000 | -1,074,000 | 25,014,000 | -5,908,000 | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 171,000 | ' | -281,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 71,000 | ' | -118,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 100,000 | ' | -163,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Total | 463,000 | -1,854,000 | 42,876,000 | -48,245,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 193,000 | -780,000 | 18,025,000 | -20,282,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 270,000 | -1,074,000 | 24,851,000 | -27,963,000 | ' | ' | ' | ' | ' | ' | ' |
Reclassification adjustment for net losses in net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -361,000 | -8,688,000 | -6,827,000 | -27,157,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -152,000 | -3,652,000 | -2,870,000 | -11,417,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -209,000 | -5,036,000 | -3,957,000 | -15,740,000 | ' | ' | ' | ' | ' | ' | ' |
Total | -361,000 | -8,688,000 | -6,827,000 | -27,157,000 | ' | ' | ' | ' | ' | ' | ' |
Total | -152,000 | -3,652,000 | -2,870,000 | -11,417,000 | ' | ' | ' | ' | ' | ' | ' |
Total | -209,000 | -5,036,000 | -3,957,000 | -15,740,000 | ' | ' | ' | ' | ' | ' | ' |
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | ' | ' | ' | 38,052,000 | ' | ' | ' | ' | ' | ' | ' |
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | ' | ' | ' | 15,997,000 | ' | ' | ' | ' | ' | ' | ' |
Net unrealized gains arising from transferring securities held-to-maturity to available-for-sale | ' | ' | ' | 22,055,000 | ' | ' | ' | ' | ' | ' | ' |
Total other comprehensive income/(loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -69,000 | -10,542,000 | 36,330,000 | -37,350,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | ' | ' | 15,273,000 | -15,702,000 | ' | ' | ' | ' | ' | ' | ' |
Securities available-for sale | -39,000 | -6,110,000 | 21,057,000 | -21,648,000 | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 171,000 | ' | -281,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 71,000 | ' | -118,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flow hedge derivatives | 100,000 | ' | -163,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Total | 102,000 | -10,542,000 | 36,049,000 | -37,350,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 41,000 | -4,432,000 | 15,155,000 | -15,702,000 | ' | ' | ' | ' | ' | ' | ' |
Total | 61,000 | -6,110,000 | 20,894,000 | -21,648,000 | ' | ' | ' | ' | ' | ' | ' |
Ending balance, loss net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprenhensive Income, Net of Tax | ($8,835,000) | ($21,183,000) | ($8,835,000) | ($21,183,000) | ($8,935,000) | ($8,896,000) | ($29,729,000) | ($21,183,000) | ($15,073,000) | $465,000 | $100,000 |