Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 30, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Cathay General Bancorp | |
Entity Central Index Key | 861,842 | |
Trading Symbol | caty | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 81,240,422 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 199,713,000 | $ 247,056,000 |
Short-term investments and interest bearing deposits | 524,012,000 | 292,745,000 |
Cash and cash equivalents | 723,725,000 | 539,801,000 |
Securities available-for-sale (amortized cost of $1,271,291 at March 31, 2018 and $1,336,345 at December 31, 2017 | 1,241,105,000 | 1,333,626,000 |
Loans held for sale | 8,000,000 | |
Loans | 13,014,539,000 | 12,870,290,000 |
Less: Allowance for loan losses | (122,084,000) | (123,279,000) |
Unamortized deferred loan fees, net | (3,289,000) | (3,245,000) |
Loans, net | 12,889,166,000 | 12,743,766,000 |
Equity securities | 24,154,000 | 28,100,000 |
Federal Home Loan Bank stock | 17,250,000 | 23,085,000 |
Other real estate owned, net | 9,291,000 | 9,442,000 |
Affordable housing investments and alternative energy partnerships, net | 271,780,000 | 272,871,000 |
Premises and equipment, net | 101,926,000 | 103,064,000 |
Customers’ liability on acceptances | 15,074,000 | 13,482,000 |
Accrued interest receivable | 45,386,000 | 45,307,000 |
Goodwill | 372,189,000 | 372,189,000 |
Other intangible assets, net | 7,803,000 | 8,062,000 |
Other assets | 163,488,000 | 167,491,000 |
Total assets | 15,882,337,000 | 15,640,186,000 |
Deposits | ||
Non-interest-bearing demand deposits | 2,741,321,000 | 2,783,127,000 |
Interest-bearing deposits: | ||
Demand deposits | 1,398,076,000 | 1,410,519,000 |
Money market deposits | 2,203,948,000 | 2,248,271,000 |
Savings deposits | 801,054,000 | 857,199,000 |
Time deposits | 5,867,852,000 | 5,390,777,000 |
Total deposits | 13,012,251,000 | 12,689,893,000 |
Securities sold under agreements to repurchase | 100,000,000 | 100,000,000 |
Advances from Federal Home Loan Banks, Total | 325,000,000 | 430,000,000 |
Other borrowings of affordable housing investments | 17,434,000 | 17,481,000 |
Long-term debt | 194,136,000 | 194,136,000 |
Deferred payments from acquisition | 35,744,000 | 35,404,000 |
Acceptances outstanding | 15,074,000 | 13,482,000 |
Other liabilities | 172,906,000 | 186,486,000 |
Total liabilities | 13,872,545,000 | 13,666,882,000 |
Commitments and contingencies | ||
Stockholders’ Equity | ||
Common stock, $0.01 par value, 100,000,000 shares authorized, 89,417,641 issued and 81,206,998 outstanding at March 31, 2018, and 89,104,022 issued and 80,893,379 outstanding at December 31, 2017 | 894,000 | 891,000 |
Additional paid-in-capital | 934,335,000 | 932,874,000 |
Accumulated other comprehensive loss, net | (20,906,000) | (2,511,000) |
Retained earnings | 1,335,058,000 | 1,281,639,000 |
Treasury stock, at cost (8,210,643 shares at March 31, 2018, and at December 31, 2017) | (239,589,000) | (239,589,000) |
Total equity | 2,009,792,000 | 1,973,304,000 |
Total liabilities and equity | $ 15,882,337,000 | $ 15,640,186,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Securities available-for-sale, amortized cost | $ 1,271,291 | $ 1,336,345 |
Common stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 89,417,641 | 89,104,022 |
Common stock, shares outstanding (in shares) | 81,206,998 | 80,893,379 |
Treasury stock shares (in shares) | 8,210,643 | 8,210,643 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Interest and Dividend Income | |||
Loans receivable, including loan fees | $ 151,290 | $ 124,910 | |
Investment securities | 6,458 | 4,406 | |
Federal Home Loan Bank stock | 396 | 412 | |
Deposits with banks | 1,556 | 1,076 | |
Total interest and dividend income | 159,700 | 130,804 | |
Interest Expense | |||
Time deposits | 15,728 | 10,982 | |
Other deposits | 4,586 | 4,446 | |
Securities sold under agreements to repurchase | 714 | 1,550 | |
Advances from Federal Home Loan Bank | 971 | 288 | |
Long-term debt | 2,082 | 1,424 | |
Deferred payments from acquisition | 276 | ||
Total interest expense | 24,357 | 18,690 | |
Net interest income before reversal for credit losses | 135,343 | 112,114 | |
Reversal for credit losses | (3,000) | (2,500) | |
Net interest income after reversal for credit losses | 138,343 | 114,614 | |
Non-Interest Income | |||
Net losses from equity securities | (3,847) | ||
Securities gains/(losses), net | (466) | ||
Letters of credit commissions | 1,275 | 1,123 | |
Depository service fees | [1] | 6,867 | 6,660 |
Gain from acquisition | 340 | ||
Other operating income | 6,097 | 4,553 | |
Total non-interest income | 5,310 | 6,718 | |
Non-Interest Expense | |||
Salaries and employee benefits | 30,377 | 25,871 | |
Occupancy expense | 5,452 | 4,699 | |
Computer and equipment expense | 3,094 | 2,724 | |
Professional services expense | 6,039 | 4,256 | |
Data processing service expense | 3,219 | 2,532 | |
FDIC and regulatory assessments | 2,035 | 2,520 | |
Marketing expense | 858 | 871 | |
Other real estate owned (income)/expense | (212) | 61 | |
Amortization of investments in low income housing and alternative energy partnerships | 5,761 | 4,850 | |
Amortization of core deposit intangibles | 234 | 172 | |
Acquisition and integration costs | 169 | ||
Other operating expense | 3,945 | 3,330 | |
Total non-interest expense | 60,971 | 51,886 | |
Income before income tax expense | 82,682 | 69,446 | |
Income tax expense | 18,866 | 20,505 | |
Net income | 63,816 | 48,941 | |
Other comprehensive income, net of tax | |||
Unrealized holding losses on securities available-for-sale | (11,514) | (496) | |
Unrealized holding gain on cash flow hedge derivatives | 2,193 | 299 | |
Less: reclassification adjustments for gains/(losses) included in net income | (270) | ||
Total other comprehensive gain, net of tax | (9,321) | 73 | |
Total other comprehensive income | $ 54,495 | $ 49,014 | |
Net income per common share: | |||
Basic (in dollars per share) | $ 0.79 | $ 0.61 | |
Diluted (in dollars per share) | 0.78 | 0.61 | |
Cash dividends paid per common share (in dollars per share) | $ 0.24 | $ 0.21 | |
Weighted-average shares: | |||
Basic (in shares) | 81,123,380 | 79,703,593 | |
Diluted weighted-average number of common shares outstanding (in shares) | 81,680,445 | 80,413,178 | |
Deposit Account [Member] | |||
Non-Interest Income | |||
Depository service fees | $ 1,445 | $ 1,508 | |
[1] | There were no adjustments to the Company's financial statements recorded as a result of the adoption of ASC 606. For comparability, the Company has adjusted prior period amounts to conform to the periods presentation. |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash Flows from Operating Activities | ||
Net income | $ 63,816,000 | $ 48,941,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Reversal for credit losses | (3,000,000) | (2,500,000) |
Provision for losses on other real estate owned | 33,000 | 272,000 |
Deferred tax liability | 3,597,000 | 14,283,000 |
Depreciation and amortization | 2,009,000 | 1,769,000 |
Net gains on sale and transfer of other real estate owned | (258,000) | (219,000) |
Proceeds from sales of loans | 8,000,000 | 7,500,000 |
Amortization on alternative energy partnerships, venture capital and other investments | (12,000) | 187,000 |
Net loss/(gain) on sales and calls of securities | 438,000 | |
Amortization/accretion of security premiums/discounts, net | 882,000 | 727,000 |
Unrealized loss on equity securities | 3,847,000 | |
Write-down on impaired securities | 28,000 | |
Stock based compensation and stock issued to officers as compensation | 1,499,000 | 1,183,000 |
Net change in accrued interest receivable and other assets | 7,870,000 | (5,617,000) |
Gain on acquisition | (340,000) | |
Net change in other liabilities | (2,995,000) | (12,926,000) |
Net cash provided by operating activities | 84,948,000 | 54,066,000 |
Cash Flows from Investing Activities | ||
Purchase of investment securities available-for-sale | (125,714,000) | (99,965,000) |
Proceeds from sale of investment securities available-for-sale | 99,541,000 | |
Proceeds from repayments, maturities and calls of investment securities available-for-sale | 173,915,000 | 85,439,000 |
Redemptions of Federal Home Loan Bank stock | 5,835,000 | |
Net increase in loans | (141,205,000) | (170,843,000) |
Purchase of premises and equipment | (638,000) | (1,016,000) |
Proceeds from sales of other real estate owned | 1,480,000 | 878,000 |
Net (increase)/decrease in investment in affordable housing and alternative energy partnerships | (10,673,000) | 565,000 |
Net cash used for investing activities | (97,000,000) | (85,401,000) |
Cash Flows from Financing Activities | ||
Net increase/(decrease) in deposits | 322,166,000 | (87,333,000) |
Net decrease in federal funds purchased and securities sold under agreements to repurchase | (200,000,000) | |
Advances from Federal Home Loan Bank | 1,150,000,000 | 250,000,000 |
Repayment of Federal Home Loan Bank borrowings | (1,255,000,000) | (275,000,000) |
Cash dividends paid | (19,469,000) | (16,756,000) |
Proceeds from shares issued under Dividend Reinvestment Plan | 664,000 | 617,000 |
Proceeds from exercise of stock options | 838,000 | 422,000 |
Taxes paid related to net share settlement of RSUs | (3,223,000) | (5,118,000) |
Net cash provided by (used in) financing activities | 195,976,000 | (333,169,000) |
Increase/(decrease) in cash and cash equivalents | 183,924,000 | (364,504,000) |
Cash and cash equivalents, beginning of the period | 539,801,000 | 1,185,084,000 |
Cash and cash equivalents, end of the period | 723,725,000 | 820,580,000 |
Supplemental disclosure of cash flow information | ||
Interest | 22,509,000 | 20,495,000 |
Income taxes paid | 3,658,000 | 15,896,000 |
Non-cash investing and financing activities: | ||
Net change in unrealized holding loss on securities available-for-sale, net of tax | (11,514,000) | (226,000) |
Net change in unrealized holding loss on cash flow hedge derivatives | 2,193,000 | 299,000 |
Transfers to other real estate owned from loans held for investment | 715,000 | 726,000 |
Loans transferred from held for investment to held for sale, net | $ 5,835,000 |
Note 1 - Business
Note 1 - Business | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Cathay General Bancorp (“Bancorp”) is the holding company for Cathay Bank (the “Bank” and, together, with Bancorp, the “Company”), eight 100% five 1962 March 31, 2018, 26 15 12 three three two one one not |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
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 10 X. not not may December 31, 2018. 10 December 31, 2017. 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. The Company expects that the most significant estimates subject to change are the allowance for loan losses, goodwill impairment, and other-than-temporary impairment. In the condensed consolidated statement of cash flows, the amounts for the three March 31, 2017 $251.6 $27.5 $218.0 $190.5 |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 3 Recent Accounting Pronouncements Accounting Standards adopted in 201 8 In May 2014, 2014 09, 606 2014 09 2014 09 2015 14, 2016 08, 2016 10 2016 12, December 15, 2017 2014 09, not not 1, 2018 no not 17 In January 2016, 2016 01, 825 10 2016 01 December 15, 2017. $8.6 January 1, 2018 $3.8 March 31, 2018. 7 first 2018, 13 no In February 2018, 2018 02 December 15, 2018. January 1, 2018. $515,000 January 1, 2018. 18 Other Accounting Standards In February 2016, 2016 02, 842 2016 02 twelve 2016 02 December 15, 2018, 2016 02 2016 02 2016 02 January 1, 2019 In June 2016, 2016 13, 326 not 2016 13 December 15, 2019. 2016 13 not 2016 13 In January 2017, 2017 04, “ 350 2 2 December 15, 2019. 2017 04 not In March 2017, 2017 08, - 310 20 not December 15, 2018. In July 2017, 2017 11, 260 480 815 two 480, December 15, 2020. first 250 10 45 5 45 10. not not In August 2017, 2017 12, 815 December 15, 2018, December 15, 2019, December 15, 2020. |
Note 4 - Acquisition
Note 4 - Acquisition | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 4. On July 14, 2017, July 8, 2016, $351.6 926,192 $100 November 14, 2017 $35.4 three December 12, 2017, $4.1 July 17, 2017 October 27, 2017, , nine 805 10 50, The assets and liabilities, both tangible and intangible, were recorded at their estimated fair values as of the July 14, 2017 The fair value of the assets and the liabilities acquired as of July 14, 2017 SinoPac Bancorp Assets acquired: Cash and cash equivalents $ 166,932 Short-term investments 122,000 Securities available-for-sale 88,044 FHLB and FRB stock 19,890 Loans 705,792 Premises and equipment 6,239 Cash surrender value of life insurance 46,083 Deferred tax assets, net 40,690 Core deposit intangible 6,122 Accrued interest receivable and other assets 10,689 Total assets acquired 1,212,481 Liabilities assumed: Deposits 813,888 Advances from the Federal Home Loan Bank 30,000 Accrued interest payable and other liabilities 8,512 Total liabilities assumed 852,400 Net assets acquired $ 360,081 Cash paid $ 284,984 Fair value of common stock issued 34,862 Total consideration paid $ 319,846 Purchase price payable to SinoPac 34,267 Total consideration $ 354,113 Gain from acquisition $ 5,968 The table above reflects net purchase price adjustments of $340,000 March 31, 2018. The purchase price allocations reflected in the table above are preliminary for up to 12 months after the acquisition date and subject to revision as more detailed analyses are completed and additional information about fair value of assets and liabilities becomes available. |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5 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 and restricted stock units with anti-dilutive effect were not Three months ended March 31, (Dollars in thousands, except share and per share data) 2018 2017 Net income $ 63,816 $ 48,941 Weighted-average shares: Basic weighted-average number of common shares outstanding 81,123,380 79,703,593 Dilutive effect of weighted-average outstanding common share equivalents Warrants 295,453 416,607 Options - 33,888 Restricted stock units 261,612 259,090 Diluted weighted-average number of common shares outstanding 81,680,445 80,413,178 Average stock options and restricted stock units with anti-dilutive effect 38,906 19,900 Earnings per common share: Basic $ 0.79 $ 0.61 Diluted $ 0.78 $ 0.61 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 6 Stock-Based Compensation Under the Company’s equity incentive plans, directors and eligible employees may March 31, 2018, no There were 35,880 18,040 first March 31, 2018 2017, $838,000 35,880 $23.37 $718,000 first March 31, 2018 $422,000 $262,000 first March 31, 2017. The Company granted restricted stock units for 122,674 $43.50 first 2018. 87,781 $38.59 2017. In December 2013, 2014 2016 December 2016, December 2016. December 2014, 60,456 57,642 seven December 2015, 61,209 57,409 seven December 2016, 30,319 58,241 29,119 seven December 2017, 23,556 22,377 six March 2018, 55,455 six three The following table presents restricted stock unit activity during the three March 31, 2018: Units Balance at December 31, 2017 561,610 Granted 178,129 Distributed (109,454 ) Forfeited (4,010 ) Balance at March 31, 2018 626,275 The compensation expense recorded for restricted stock units was $1.5 three March 31, 2018, $1.2 $15.1 March 31, 2018 2.3 As of March 31, 2018, 2,608,672 2005 Tax benefit from share-based payment arrangements of $0.7 first 2018 $2.6 |
Note 7 - Investment Securities
Note 7 - Investment Securities | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7 Securities available-for-sale were $1.2 March 31, 2018, $1.3 December 31, 2017. The following tables reflect the amortized cost, gross unrealized gains, gross unrealized losses, and fair value of securities available-for-sale as of March 31, 2018, December 31, 2017: March 31, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Debt Securities Available-for-Sale U.S. treasury securities $ 124,842 $ - $ 247 $ 124,595 U.S. government agency entities 8,794 - 99 8,695 U.S. government sponsored entities 400,000 - 14,080 385,920 State and municipal securities 924 20 904 Mortgage-backed securities 655,327 226 17,194 638,359 Collateralized mortgage obligations 1,398 - 27 1,371 Corporate debt securities 80,006 1,280 25 81,261 Total $ 1,271,291 $ 1,506 $ 31,692 $ 1,241,105 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 249,877 $ - $ 357 $ 249,520 U.S. government agency entities 9,047 11 70 8,988 U.S. government sponsored entities 400,000 - 9,664 390,336 State and municipal securities 1,944 - 30 1,914 Mortgage-backed securities 577,987 241 6,259 571,969 Collateralized mortgage obligations 1,533 - 17 1,516 Corporate debt securities 80,007 1,291 17 81,281 Mutual funds 6,500 - 270 6,230 Preferred stock of government sponsored entities 5,842 4,260 - 10,102 Other equity securities 3,608 8,162 - 11,770 Total $ 1,336,345 $ 13,965 $ 16,684 $ 1,333,626 The amortized cost and fair value of investment securities as of March 31, 2018, may may Securities Available-For-Sale Amortized cost Fair value (In thousands) Due in one year or less $ 140,165 $ 139,922 Due after one year through five years 466,090 453,280 Due after five years through ten years 5,783 5,624 Due after ten years 659,253 642,279 Total $ 1,271,291 $ 1,241,105 There were no first 2018 first 2017. $22.9 $15.4 three March 31, 2018 2017, no first 2018 $99.5 first 2017. $151.0 three March 31, 2018 $70.0 no three March 31, 2018, $438,000 no first 2018 $28,000 first 2017. The adoption of ASU 2016 01 $8.6 January 1, 2018. March 31, 2018, $3.8 March 31, 2018. $24.2 March 31, 2018, $28.1 December 31, 2017. The tables below show the fair value and unrealized losses of the temporarily impaired securities in our investment securities portfolio as of March 31, 2018, December 31, 2017: March 31, 2018 Temporarily impaired securities Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Debt Securities Available-for-Sale U.S. treasury securities $ 74,829 $ 19 $ 49,766 $ 228 $ 124,595 $ 247 U.S. government agency entities 8,695 99 - - 8,695 99 U.S. government sponsored entities - - 385,920 14,080 385,920 14,080 State and municipal securities 903 20 - - 903 20 Mortgage-backed securities 437,818 11,042 167,958 6,152 605,776 17,194 Collateralized mortgage obligations 1,371 27 - - 1,371 27 Corporate debt securities 5,003 25 - - 5,003 25 Total debt securities $ 528,619 $ 11,232 $ 603,644 $ 20,460 $ 1,132,263 $ 31,692 Equity Securities Preferred stock of government sponsored entities 6,691 3,411 - - 6,691 3,411 Mutual funds - - 6,129 371 6,129 371 Other equity securities 11,334 436 - - 11,334 436 Total equity securities $ 18,025 $ 3,847 $ 6,129 $ 371 $ 24,154 $ 4,218 December 31, 2017 Temporarily impaired securities Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. treasury securities $ 199,823 $ 62 $ 49,697 $ 295 $ 249,520 $ 357 U.S. government agency entities 5,711 70 - - 5,711 70 U.S. government sponsored entities - - 390,336 9,664 390,336 9,664 State and municipal securities 1,914 30 - - 1,914 30 Mortgage-backed securities 342,436 3,147 178,617 3,112 521,053 6,259 Collateralized mortgage obligations 1,516 17 - - 1,516 17 Corporate debt securities 5,015 17 - - 5,015 17 Mutual funds - - 6,230 270 6,230 270 Total $ 556,415 $ 3,343 $ 624,880 $ 13,341 $ 1,181,295 $ 16,684 As of March 31, 2018, $31.7 not, no no not Investment securities having a carrying value of $231.0 March 31, 2018, $272.2 December 31, 2017, |
Note 8 - Loans
Note 8 - Loans | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 8 . Loans Most of the Company’s business activities are with customers located in the high-density Asian-populated areas of Southern and Northern California; New York City, New York; Dallas and Houston, Texas; Seattle, Washington; Boston, Massachusetts; Chicago, Illinois; Edison, New Jersey; Rockville, Maryland; Las Vegas, Nevada, and Hong Kong. The Company has no The types of loans in the Company’s condensed consolidated balance sheets as of March 31, 2018, December 31, 2017, March 31, 2018 December 31, 2017 (In thousands) Commercial loans $ 2,436,421 $ 2,461,266 Residential mortgage loans 3,198,750 3,062,050 Commercial mortgage loans 6,610,254 6,482,695 Real estate construction loans 587,927 678,805 Equity lines 176,714 180,304 Installment & other loans 4,473 5,170 Gross loans $ 13,014,539 $ 12,870,290 Allowance for loan losses (122,084 ) (123,279 ) Unamortized deferred loan fees (3,289 ) (3,245 ) Total loans, net $ 12,889,166 $ 12,743,766 Loans held for sale $ - $ 8,000 As of March 31, 2018, $132.1 $49.3 $82.8 December 31, 2017, $117.4 $48.8 $68.6 6.4% March 31, 2018, 7.2% December 31, 2017, 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 Three months ended March 31, March 31, 2018 2017 2018 2017 Commercial loans $ 45,183 $ 23,335 $ 334 $ 83 Real estate construction loans 8,137 16,930 - 340 Commercial mortgage loans 58,598 61,405 644 445 Residential mortgage loans and equity lines 13,709 16,543 100 132 Total impaired loans $ 125,627 $ 118,213 $ 1,078 $ 1,000 The following table presents impaired loans and the related allowance for loan losses as of the dates indicated: Impaired Loans March 31, 2018 December 31, 2017 Unpaid Principal Balance Recorded Investment Allowance Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 45,698 $ 44,680 $ - $ 43,483 $ 42,702 $ - Real estate construction loans 8,821 8,113 - 8,821 8,185 - Commercial mortgage loans 44,486 37,471 - 37,825 31,029 - Residential mortgage loans and equity lines 6,377 6,377 - 1,301 1,301 - Subtotal $ 105,382 $ 96,641 $ - $ 91,430 $ 83,217 $ - With allocated allowance Commercial loans $ 258 $ 231 $ 11 $ 891 $ 793 $ 43 Commercial mortgage loans 27,315 27,276 1,145 21,733 21,635 1,738 Residential mortgage loans and equity lines 9,091 7,965 346 13,022 11,708 353 Subtotal $ 36,664 $ 35,472 $ 1,502 $ 35,646 $ 34,136 $ 2,134 Total impaired loans $ 142,046 $ 132,113 $ 1,502 $ 127,076 $ 117,353 $ 2,134 The following tables present the aging of the loan portfolio by type as of March 31, 2018, December 31, 2017: March 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total Type of Loans: (In thousands) Commercial loans $ 15,571 $ 146 $ - $ 15,916 $ 31,633 $ 2,404,788 $ 2,436,421 Real estate construction loans 920 - - 8,113 9,033 578,894 587,927 Commercial mortgage loans 26,015 - - 17,780 43,795 6,566,459 6,610,254 Residential mortgage loans and equity lines 4,094 - - 7,519 11,613 3,363,851 3,375,464 Installment and other loans 170 95 - - 265 4,208 4,473 Total loans $ 46,770 $ 241 $ - $ 49,328 $ 96,339 $ 12,918,200 $ 13,014,539 December 31, 2017 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total Type of Loans: (In thousands) Commercial loans $ 11,079 $ 5,192 $ - $ 14,296 $ 30,567 $ 2,430,699 $ 2,461,266 Real estate construction loans 3,028 - - 8,185 11,213 667,592 678,805 Commercial mortgage loans 17,573 5,602 - 19,820 42,995 6,439,700 6,482,695 Residential mortgage loans and equity lines 6,613 732 - 6,486 13,831 3,228,523 3,242,354 Installment and other loans 103 - - - 103 5,067 5,170 Total loans $ 38,396 $ 11,526 $ - $ 48,787 $ 98,709 $ 12,771,581 $ 12,870,290 The determination of the amount of the allowance for loan 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 loan losses. The nature of the process by which the Bank determines the appropriate allowance for loan 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. 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. 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 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 As of March 31, 2018, $82.8 $31.2 $68.6 $33.4 December 31, 2017. $1.2 $75,000 March 31, 2018, $1.9 $83,000 December 31, 2017. first March 31, 2018 2017, March 31, 2018 2017, first March 31, 2018 2017: Three months ended March 31, 2018 March 31, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (Dollars in thousands) Commercial loans 3 $ 2,463 $ 2,463 $ - $ - Commercial mortgage loans 6 14,287 14,287 - 134 Residential mortgage loans and equity lines 2 801 801 - 8 Total 11 $ 17,551 $ 17,551 $ - $ 142 Three months ended March 31, 2017 March 31, 2017 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (Dollars in thousands) Real estate construction loans 2 $ 27,683 $ 27,683 $ - $ - Total 2 $ 27,683 $ 27,683 $ - $ - Modifications of the loan terms during the first 2018 three twelve We expect that the TDRs on accruing status as of March 31, 2018, March 31, 2018, December 31, 2017, ` March 31, 2018 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 28,995 $ - $ - $ 28,995 Commercial mortgage loans 19,609 7,499 19,859 46,967 Residential mortgage loans 3,744 333 2,746 6,823 Total accruing TDRs $ 52,348 $ 7,832 $ 22,605 $ 82,785 March 31, 2018 Non-accrual TDRs Payment Deferral Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 14,568 $ - $ 14,568 Commercial mortgage loans 4,011 10,871 14,882 Residential mortgage loans 1,594 151 1,745 Total non-accrual TDRs $ 20,173 $ 11,022 $ 31,195 December 31, 2017 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 29,199 $ - $ - $ 29,199 Commercial mortgage loans 11,504 5,871 15,468 32,843 Residential mortgage loans 3,416 335 2,772 6,523 Total accruing TDRs $ 44,119 $ 6,206 $ 18,240 $ 68,565 December 31, 2017 Non-accrual TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 12,944 $ - $ - $ 12,944 Commercial mortgage loans 6,231 1,677 11,113 19,021 Residential mortgage loans 1,297 - 154 1,451 Total non-accrual TDRs $ 20,472 $ 1,677 $ 11,267 $ 33,416 The activity within our TDRs for the periods indicated is shown below: Three months ended March 31, Accruing TDRs 2018 2017 (In thousands) Beginning balance $ 68,566 $ 65,393 New restructurings 17,320 27,683 Restructured loans restored to accrual status 2,318 - Payments (3,891 ) (4,595 ) Restructured loans placed on non-accrual status (1,528 ) (5,822 ) Expiration of loan concession upon renewal - (2,240 ) Ending balance $ 82,785 $ 80,419 Three months ended March 31, Non-accrual TDRs 2018 2017 (In thousands) Beginning balance $ 33,415 $ 29,722 New restructurings 231 - Restructured loans placed on non-accrual status 1,528 5,822 Charge-offs - (1,049 ) Payments (1,661 ) (990 ) Foreclosures - (726 ) Restructured loans restored to accrual status (2,318 ) - Ending balance $ 31,195 $ 32,779 The Company considers a loan to be in payment default once it is 60 90 not twelve March 31, 2018. 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 March 31, 2018, no 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 – ● Special Mention – not may ● Substandard – may not not ● Doubtful – may ● Loss – no The following tables present the loan portfolio by risk rating as of March 31, 2018, December 31, 2017: March 31, 2018 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,224,463 $ 139,985 $ 71,973 $ - $ 2,436,421 Real estate construction loans 522,983 55,911 9,033 - 587,927 Commercial mortgage loans 6,202,696 292,647 114,911 - 6,610,254 Residential mortgage loans and equity lines 3,365,642 - 9,822 - 3,375,464 Installment and other loans 4,378 - 95 - 4,473 Total gross loans $ 12,320,162 $ 488,543 $ 205,834 $ - $ 13,014,539 Loans held for sale $ - $ - $ - $ - $ - December 31, 2017 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,281,698 $ 118,056 $ 61,503 $ 9 $ 2,461,266 Real estate construction loans 616,411 54,209 8,185 - 678,805 Commercial mortgage loans 6,004,258 308,924 169,513 - 6,482,695 Residential mortgage loans and equity lines 3,232,606 - 9,748 - 3,242,354 Installment and other loans 5,170 - - - 5,170 Total gross loans $ 12,140,143 $ 481,189 $ 248,949 $ 9 $ 12,870,290 Loans held for sale $ - $ - $ 8,000 $ - $ 8,000 The following table presents the balance in the allowance for loan losses by portfolio segment and based on impairment method as of March 31, 2018, December 31, 2017: Real Estate Commercial Residential Commercial Construction Mortgage Mortgage Loans Installment and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) March 31, 2018 Loans individually evaluated for impairment Allowance $ 11 $ - $ 1,145 $ 346 $ - $ 1,502 Balance $ 44,911 $ 8,113 $ 64,747 $ 14,342 $ - $ 132,113 Loans collectively evaluated for impairment Allowance $ 54,586 $ 21,864 $ 33,085 $ 11,026 $ 21 $ 120,582 Balance $ 2,391,510 $ 579,814 $ 6,545,507 $ 3,361,122 $ 4,473 $ 12,882,426 Total allowance $ 54,597 $ 21,864 $ 34,230 $ 11,372 $ 21 $ 122,084 Total balance $ 2,436,421 $ 587,927 $ 6,610,254 $ 3,375,464 $ 4,473 $ 13,014,539 December 31, 2017 Loans individually evaluated for impairment Allowance $ 43 $ - $ 1,738 $ 353 $ - $ 2,134 Balance $ 43,495 $ 8,185 $ 52,664 $ 13,009 $ - $ 117,353 Loans collectively evaluated for impairment Allowance $ 49,753 $ 24,838 $ 35,872 $ 10,660 $ 22 $ 121,145 Balance $ 2,417,771 $ 670,620 $ 6,430,031 $ 3,229,345 $ 5,170 $ 12,752,937 Total allowance $ 49,796 $ 24,838 $ 37,610 $ 11,013 $ 22 $ 123,279 Total balance $ 2,461,266 $ 678,805 $ 6,482,695 $ 3,242,354 $ 5,170 $ 12,870,290 The following tables detail activity in the allowance for loan losses by portfolio segment for the three March 31, 2018, March 31, 2017. one not Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Other Loans Loans Loans and Equity Lines Loans Total (In thousands) 2018 Beginning Balance $ 49,796 $ 24,838 $ 37,610 $ 11,013 $ 22 $ 123,279 Provision/(credit) for possible credit losses 3,907 (3,018 ) (4,163 ) 275 (1 ) (3,000 ) Charge-offs (19 ) - - - - (19 ) Recoveries 913 44 783 84 - 1,824 Net recoveries 894 44 783 84 - 1,805 March 31, 2018 Ending Balance $ 54,597 $ 21,864 $ 34,230 $ 11,372 $ 21 $ 122,084 Reserve for impaired loans $ 11 $ - $ 1,145 $ 346 $ - $ 1,502 Reserve for non-impaired loans $ 54,586 $ 21,864 $ 33,085 $ 11,026 $ 21 $ 120,582 Reserve for off-balance sheet credit commitments $ 2,747 $ 1,515 $ 138 $ 182 $ 6 $ 4,588 2017 Beginning Balance $ 49,203 $ 23,268 $ 34,864 $ 11,620 $ 11 $ 118,966 (Credit)/provision for possible credit losses (1,214 ) (3,549 ) 1,362 898 3 (2,500 ) Charge-offs (1,204 ) - (555 ) - - (1,759 ) Recoveries 491 49 289 8 - 837 Net (charge-offs)/recoveries (713 ) 49 (266 ) 8 - (922 ) March 31, 2017 Ending Balance $ 47,276 $ 19,768 $ 35,960 $ 12,526 $ 14 $ 115,544 Reserve for impaired loans $ 1,062 $ - $ 818 $ 395 $ - $ 2,275 Reserve for non-impaired loans $ 46,214 $ 19,768 $ 35,142 $ 12,131 $ 14 $ 113,269 Reserve for off-balance sheet credit commitments $ 2,243 $ 909 $ 120 $ 146 $ 6 $ 3,424 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9 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 not may not may 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 |
Note 10 - Borrowed Funds
Note 10 - Borrowed Funds | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10 Borrowed Funds Securities Sold Under Agreements to Repurchase. $100 2.86% March 31, 2018, $100 2.86% December 31, 2017. two $50.0 June 2018 $50.0 July 2018. These transactions are accounted for as collateralized financing transactions and recorded at the amounts at which the securities were sold. The Company may $107.6 March 31, 2018, $108.4 December 31, 2017. Borrowing from the Federal Home Loan Bank ("FHLB"). March 31, 2018, $250 1.87% $325 1.41% December 31, 2017. March 31, 2018, $75 1.53% $105 1.41% December 31, 2017. March 31, 2018, $15 April 2018, $5 July 2018, $5 October 2018, $50 December 2019. Other Borrowing. $100 November 14, 2017, 30 $35.2 three 150 2.8% 50%, 30%, 20% three March 31, 2018, $35.7 $35.2 December 31, 2017. Long-term Debt . October 12, 2017, $75.0 one 175 March 31, 2018, 3.438% 3.125% December 31, 2017. $4.7 December 31, 2018, October 12, 2020. |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11 Income Taxes The effective tax rate for the first 2018 22.8% 29.5% first 2017. December 22, 2017, 35% 21% January 1, 2018. As of December 31, 2017, $7.2 The Company’s tax returns are open for audit by the Internal Revenue Service back to 2014 2013. It is reasonably possible that unrecognized tax benefits could change significantly over the next twelve not |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | 1 2 . Fair Value Measurement s The Company adopted ASC Topic 820 January 1, 2008, ● Level 1 ● Level 2 not not ● Level 3 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 1 2 Warrants 3 Foreign Exchange Contracts 2 Interest Rate Swaps third 2 Assets measured at estimated fair value on a non-recurring basis: Certain assets or liabilities are required to be measured at estimated fair value on a nonrecurring basis subsequent to initial recognition. Generally, these adjustments are the result of lower-of-cost-or-fair value or other impairment write-downs of individual assets. In determining the estimated fair values during the period, the Company determined that substantially all the changes in estimated fair value were due to declines in market conditions versus instrument specific credit risk. For the three March 31, 2018 December 31, 2017, no The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of March 31, 2018, December 31, 2017: March 31, 2018 Fair Value Measurements Using Total at Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Debt securities available-for-sale U.S. Treasury securities $ 124,595 $ - $ - $ 124,595 U.S. government agencies - 8,695 - 8,695 U.S. government sponsored entities - 385,920 - 385,920 State and municipal securities - 904 - 904 Mortgage-backed securities - 638,359 - 638,359 Collateralized mortgage obligations - 1,371 - 1,371 Corporate debt securities - 81,261 - 81,261 Total debt securities available-for-sale 124,595 1,116,510 - 1,241,105 Equity securities Preferred stock of government sponsored entities 6,691 - - 6,691 Mutual funds 6,129 - - 6,129 Other equity securities 11,334 - - 11,334 Total equity securities 24,154 - - 24,154 Warrants - - 195 195 Foreign exchange contracts - 1,539 - 1,539 Interest rate swaps - 11,674 - 11,674 Total assets $ 148,749 $ 1,129,723 $ 195 $ 1,278,667 Liabilities Option contracts $ - $ 3 $ - $ 3 Foreign exchange contracts - 924 - 924 Total liabilities $ - $ 927 $ - $ 927 December 31, 2017 Fair Value Measurements Using Total at Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 249,520 $ - $ - $ 249,520 U.S. government agency entities - 8,988 - 8,988 U.S. government sponsored entities - 390,336 - 390,336 State and municipal securities - 1,914 - 1,914 Mortgage-backed securities - 571,969 - 571,969 Collateralized mortgage obligations - 1,516 - 1,516 Corporate debt securities - 81,281 - 81,281 Mutual funds 6,230 - - 6,230 Preferred stock of government sponsored entities 10,102 - - 10,102 Other equity securities 11,770 - - 11,770 Total securities available-for-sale 277,622 1,056,004 - 1,333,626 Warrants - - 91 91 Interest rate swaps - 5,218 - 5,218 Foreign exchange contracts - 1,832 - 1,832 Total assets $ 277,622 $ 1,063,054 $ 91 $ 1,340,767 Liabilities Option contracts $ - $ 9 $ - $ 9 Interest rate swaps - 2,699 - 2,699 Foreign exchange contracts - 453 - 453 Total liabilities $ - $ 3,161 $ - $ 3,161 The Company measured the fair value of its warrants on a recurring basis using significant unobservable inputs. The fair value of warrants was $195,000 March 31, 2018, $91,000 December 31, 2017. first 2018. 1 6 2.30% 2.94%, 8.99% 12.73%. For financial assets measured at fair value on a nonrecurring basis that were still reflected in the condensed consolidated balance sheet as of March 31, 2018, March 31, 2018, December 31, 2017, As of March 31, 2018 Total Losses Fair Value Measurements Using Total at For the Three Months Ended Level 1 Level 2 Level 3 Fair Value March 31, 2018 March 31, 2017 (In thousands) Assets Impaired loans by type: Commercial loans $ - $ - $ 220 $ 220 $ - $ 20 Commercial mortgage loans - - 26,131 26,131 - 250 Residential mortgage loans and equity lines - - 7,619 7,619 - - Total impaired loans - - 33,970 33,970 - 270 Other real estate owned (1) - 5,478 4,343 9,821 33 37 Investments in venture capital and private company stock - - 2,430 2,430 173 187 Total assets $ - $ 5,478 $ 40,743 $ 46,221 $ 206 $ 494 ( 1 $9.3 As of December 31, 2017 Total Losses Fair Value Measurements Using Total at For the Twelve Months Ended Level 1 Level 2 Level 3 Fair Value December 31, 2017 December 31, 2016 (In thousands) Assets Impaired loans by type: Commercial loans $ - $ - $ 18,097 $ 18,097 $ 25 $ 322 Commercial mortgage loans - - 31,459 31,459 - - Residential mortgage loans and equity lines - - 11,355 11,355 - - Total impaired loans - - 60,911 60,911 25 322 Other real estate owned (1) - 5,677 4,322 9,999 457 9 Investments in venture capital and private company stock - - 2,583 2,583 392 976 Total assets $ - $ 5,677 $ 67,816 $ 73,493 $ 874 $ 1,307 ( 1 $9.4 The significant unobservable (Level 3 twelve 55% 65% 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% 6% |
Note 13 - Fair Value of Financi
Note 13 - Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 1 3 . Fair Value of Financial Instruments The Company uses the following methods and assumptions to estimate the fair value of each class of financial instruments. Cash and Cash Equivalents. 1 Short-term Investments and Interest Bearing Deposits. 1 Securities Purchased under Agreements to Resell . 2 Securities. not 1 2 Loans H eld for S ale third Loans. third 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 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 2 3 FHLB Stock. Deposit Liabilities. 3 Securities Sold under Agreements to Repurchase. 2 Advances from FHLB. 2 Other Borrowings. 3 Long-term D ebt. 2 Currency Option and Foreign Exchange Contracts 2 Interest Rate Swaps third 2 Off-Balance-Sheet Financial Instruments. 3 Fair value was estimated in accordance with ASC Topic 825. not one no The following table presents the carrying and notional amounts and estimated fair value of financial instruments as of March 31, 2018, December 31, 2017: March 31, 2018 December 31, 2017 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 199,713 $ 199,713 $ 247,056 $ 247,056 Short-term investments and interest bearing deposits 524,012 524,012 292,745 292,745 Securities available-for-sale 1,241,105 1,241,105 1,333,626 1,333,626 Equity securities 24,154 24,154 - - Loans held for sale - - 8,000 8,000 Loans, net (1) 12,889,166 12,908,391 12,743,766 12,663,049 Investment in Federal Home Loan Bank stock 17,250 17,250 23,085 23,085 Warrants 195 195 91 91 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 78,021 $ 1,539 $ 108,530 $ 1,832 Interest rate swaps 681,055 11,674 514,159 5,218 Financial Liabilities Carrying Carrying Amount Fair Value Amount Fair Value Deposits $ 13,012,251 $ 13,032,828 $ 12,689,893 $ 12,700,674 Securities sold under agreements to repurchase 100,000 99,783 100,000 100,163 Advances from Federal Home Loan Bank 325,000 324,548 430,000 429,482 Other borrowings 53,178 51,367 52,885 51,075 Long-term debt 194,136 141,266 194,136 141,865 Notional Notional Amount Fair Value Amount Fair Value Option contracts $ 1,028 $ 3 $ 1,014 $ 9 Foreign exchange contracts 57,648 924 32,127 453 Interest rate swaps - - 145,399 2,699 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 2,487,710 $ (7,711 ) $ 2,366,368 $ (7,224 ) Standby letters of credit 142,674 (1,418 ) 140,814 (1,805 ) Other letters of credit 25,885 (13 ) 27,353 (52 ) Bill of lading guarantees 24 (0 ) 24 (0 ) ( 1 2016 01, March 31, 2018 using an exit price notion. The fair value of loans as of December 31, 2017 The following tables present the level in the fair value hierarchy for the estimated fair values of financial instruments as of March 31, 2018, December 31, 2017. As of March 31, 2018 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 199,713 $ 199,713 $ - $ - Short-term investments and interest bearing deposits 524,012 524,012 - - Debt securities available-for-sale 1,241,105 124,595 1,116,510 - Equity securities 24,154 24,154 - - Loans, net (1) 12,908,391 - - 12,908,391 Investment in Federal Home Loan Bank stock 17,250 - 17,250 - Warrants 195 - - 195 Financial Liabilities Deposits 13,032,828 - - 13,032,828 Securities sold under agreement to repurchase 99,783 - 99,783 - Advances from Federal Home Loan Bank 324,548 - 324,548 - Other borrowings 51,367 - - 51,367 Long-term debt 141,266 - 141,266 - As of December 31, 2017 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 247,056 $ 247,056 $ - $ - Short-term investments and interest bearing deposits 292,745 292,745 - - Securities available-for-sale 1,333,626 277,622 1,056,004 - Loans held-for-sale 8,000 - - 8,000 Loans, net (1) 12,663,049 - - 12,663,049 Investment in Federal Home Loan Bank stock 23,085 - 23,085 - Warrants 91 - - 91 Financial Liabilities Deposits 12,700,674 - - 12,700,674 Securities sold under agreement to repurchase 100,163 - 100,163 - Advances from Federal Home Loan Bank 429,482 - 429,482 - Other borrowings 51,075 - - 51,075 Long-term debt 141,865 - 141,865 - ( 1 2016 01, March 31, 2018 using an exit price notion. The fair value of loans as of December 31, 2017 |
Note 14 - Goodwill and Goodwill
Note 14 - Goodwill and Goodwill Impairment | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 1 4 . 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 As of March 31, 2018, no |
Note 15 - Financial Derivatives
Note 15 - Financial Derivatives | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 1 5 . Financial Derivatives It is the policy of the Company not may may The Company follows ASC Topic 815 not third not In May 2014, $119.1 ten $119.1 five ten June 2014 June 2024, three 2.61% three 2.17%. March 31, 2018, $119.1 $428,000, $1.9 March 31, 2017. $274,000 three March 31, 2018, $479,000 March 31, 2018, 2017, not As of March 31, 2018, $561.9 two ten 4.6% one 279 4.5%. March 31, 2018, March 31, 2017, $561.9 $424.2 $11.1 $1.9 $229,000 three March 31, 2018, $713,000 March 31, 2018, 2017, not 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 $1.3 March 31, 2018 $4.5 December 31, 2017. The Company enters into foreign exchange forward contracts with various counterparties to mitigate the risk of fluctuations in foreign currency exchange rates for foreign exchange certificates of deposit or foreign exchange contracts entered into with our clients. These contracts are not March 31, 2018, $1.0 $3,000. March 31, 2018, $78.0 $1.5 $57.6 $924,000 March 31, 2018. December 31, 2017, $1.0 $9,000. December 31, 2017, $108.5 $1.8 $32.1 $453,000 December 31, 2017. |
Note 16 - Balance Sheet Offsett
Note 16 - Balance Sheet Offsetting | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 1 6 . Balance Sheet Offsetting Certain financial instruments, including resell and repurchase agreements, securities lending arrangements and derivatives, may may not Financial instruments that are eligible for offset in the condensed consolidated balance sheets, as of March 31, 2018, December 31, 2017, Gross Amounts Not Offset in the Balance Sheet Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Collateral Posted Net Amount (In thousands) March 31, 2018 Assets: Derivatives $ 11,674 $ - $ 11,674 $ - $ - $ 11,674 Liabilities: Securities sold under agreements to repurchase $ 100,000 $ - $ 100,000 $ - $ (100,000 ) $ - December 31, 2017 Assets: Derivatives $ 5,218 $ - $ 5,218 $ - $ - $ 5,218 Liabilities: Securities sold under agreements to repurchase $ 100,000 $ - $ 100,000 $ - $ (100,000 ) $ - Derivatives $ 2,699 $ - $ 2,699 $ - $ (2,699 ) $ - |
Note 17 - Revenue from Contract
Note 17 - Revenue from Contracts with Customers | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 17. Revenue from Contracts with Customers On January 1, 2018, 2014 09, 606 606, 606 not January 1, 2018. not no The following is a summary of revenue from contracts with customers that are in-scope and not 606: March 31, 2018 March 31, 2017 (In thousands) Non-interest income, in-scope (1) : Fees and service charges on deposit accounts $ 2,318 $ 2,512 Wealth management fees 1,301 979 Other service fees (2) 3,248 3,169 Total noninterest income 6,867 6,660 Noninterest income, not in-scope (3) (1,557 ) 58 Total noninterest income $ 5,310 $ 6,718 ( 1 There were no 606. ( 2 Other service fees comprise of fees related to letters of credit, wire fees, fees on foreign exchange transactions and other immaterial individual revenue streams. ( 3 These amounts primarily represent revenue from contracts with customers that are out of the scope of ASC 606. The major revenue streams by fee type that are within the scope of ASC 606 Fees and Services Charges on Deposit Accounts Fees and service charges on deposit accounts include charges for analysis, overdraft, cash checking, ATM, and safe deposit activities executed by our deposit clients, as well as interchange income earned through card payment networks for the acceptance of card based transactions. Fees earned from our deposit clients are governed by contracts which provide for overall custody and access to deposited funds and other related services, and can be terminated at will by either party. Fees received from deposit clients for the various deposit activities are recognized as revenue once the performance obligations are met. The adoption of ASU 2014 09 no Wealth Management Fees The Company employs financial consultants to provide investment planning services for customers including wealth management services, asset allocation strategies, portfolio analysis and monitoring, investment strategies, and risk management strategies. The fees the Company earns are variable and are generally received monthly. The Company recognizes revenue for the services performed at quarter end based on actual transaction details received from the broker dealer the Company engages. Practical Expedients and Exemptions The Company applies the practical expedient in ASC 606 10 50 14 not one one In addition, given the short term nature of the contracts, the Company also applies the practical expedient in ASC 606 10 32 18 not one |
Note 18 - Stockholders' Equity
Note 18 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 18 . Stockholders’ Equity Total equity was $2.0 March 31, 2018, $36.5 $1.97 December 31, 2017, $63.8 $19.5 $9.3 The U.S. Treasury received warrants to purchase common stock of 1,846,374 $20.96 December 31, 2017, $20.41 1.03%. March 31, 2018, 578,238 943,327 December 31, 2017. Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three March 31, 2018, March 31, 2017, Three months ended March 31, 2018 Three months ended March 31, 2017 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 $ (1,060 ) $ (1,545 ) Cash flow hedge derivatives (1,451 ) (2,170 ) Total $ (2,511 ) $ (3,715 ) Reclassification adjustment for stranded tax effects of Tax Cuts and Jobs Act (1) Securities available-for-sale - 200 (200 ) - - - Cash flow hedge derivatives - 315 (315 ) - - - Total - 515 (515 ) - - - Reclassification adjustment for equity securities (2) Equity securities (12,151 ) (3,592 ) (8,559 ) - - - Net unrealized (losses)/gains arising during the period Securities available-for-sale $ (16,346 ) $ (4,832 ) $ (11,514 ) $ (856 ) $ (360 ) $ (496 ) Cash flow hedge derivatives 3,113 920 2,193 516 217 299 Total (13,233 ) (3,912 ) (9,321 ) (340 ) (143 ) (197 ) Reclassification adjustment for net losses in net income Securities available-for-sale - - - 466 196 270 Cash flow hedge derivatives - - - - - - Total - - - 466 196 270 Total other comprehensive (loss)/income Securities available-for-sale (16,346 ) (4,832 ) (11,514 ) (390 ) (164 ) (226 ) Cash flow hedge derivatives 3,113 920 2,193 516 217 299 Total $ (13,233 ) $ (3,912 ) $ (9,321 ) $ 126 $ 53 $ 73 Ending balance, (loss)/gain, net of tax Securities available-for-sale $ (21,333 ) $ (1,771 ) Cash flow hedge derivatives 427 (1,871 ) Total $ (20,906 ) $ (3,642 ) ( 1 January 1, 2018 2018 2. ( 2 January 1, 2018 2016 1. |
Note 19 - Stock Repurchase Prog
Note 19 - Stock Repurchase Program | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 19 Stock Repurchase Program On February 1, 2016, $45.0 2016, 1,380,578 $37.5 $27.13 February 2016 not February 2016 2017 three March 31, 2018. March 31, 2018, December 31, 2017, may $7.5 February 2016 |
Note 20 - Subsequent Events
Note 20 - Subsequent Events | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 20. The Company has evaluated the effect of events that have occurred subsequent to March 31, 2018, no |
Note 4 - Acquisition (Tables)
Note 4 - Acquisition (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | SinoPac Bancorp Assets acquired: Cash and cash equivalents $ 166,932 Short-term investments 122,000 Securities available-for-sale 88,044 FHLB and FRB stock 19,890 Loans 705,792 Premises and equipment 6,239 Cash surrender value of life insurance 46,083 Deferred tax assets, net 40,690 Core deposit intangible 6,122 Accrued interest receivable and other assets 10,689 Total assets acquired 1,212,481 Liabilities assumed: Deposits 813,888 Advances from the Federal Home Loan Bank 30,000 Accrued interest payable and other liabilities 8,512 Total liabilities assumed 852,400 Net assets acquired $ 360,081 Cash paid $ 284,984 Fair value of common stock issued 34,862 Total consideration paid $ 319,846 Purchase price payable to SinoPac 34,267 Total consideration $ 354,113 Gain from acquisition $ 5,968 |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended March 31, (Dollars in thousands, except share and per share data) 2018 2017 Net income $ 63,816 $ 48,941 Weighted-average shares: Basic weighted-average number of common shares outstanding 81,123,380 79,703,593 Dilutive effect of weighted-average outstanding common share equivalents Warrants 295,453 416,607 Options - 33,888 Restricted stock units 261,612 259,090 Diluted weighted-average number of common shares outstanding 81,680,445 80,413,178 Average stock options and restricted stock units with anti-dilutive effect 38,906 19,900 Earnings per common share: Basic $ 0.79 $ 0.61 Diluted $ 0.78 $ 0.61 |
Note 6 - Stock-based Compensa28
Note 6 - Stock-based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Units Balance at December 31, 2017 561,610 Granted 178,129 Distributed (109,454 ) Forfeited (4,010 ) Balance at March 31, 2018 626,275 |
Note 7 - Investment Securities
Note 7 - Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | March 31, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Debt Securities Available-for-Sale U.S. treasury securities $ 124,842 $ - $ 247 $ 124,595 U.S. government agency entities 8,794 - 99 8,695 U.S. government sponsored entities 400,000 - 14,080 385,920 State and municipal securities 924 20 904 Mortgage-backed securities 655,327 226 17,194 638,359 Collateralized mortgage obligations 1,398 - 27 1,371 Corporate debt securities 80,006 1,280 25 81,261 Total $ 1,271,291 $ 1,506 $ 31,692 $ 1,241,105 December 31, 2017 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 249,877 $ - $ 357 $ 249,520 U.S. government agency entities 9,047 11 70 8,988 U.S. government sponsored entities 400,000 - 9,664 390,336 State and municipal securities 1,944 - 30 1,914 Mortgage-backed securities 577,987 241 6,259 571,969 Collateralized mortgage obligations 1,533 - 17 1,516 Corporate debt securities 80,007 1,291 17 81,281 Mutual funds 6,500 - 270 6,230 Preferred stock of government sponsored entities 5,842 4,260 - 10,102 Other equity securities 3,608 8,162 - 11,770 Total $ 1,336,345 $ 13,965 $ 16,684 $ 1,333,626 |
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 $ 140,165 $ 139,922 Due after one year through five years 466,090 453,280 Due after five years through ten years 5,783 5,624 Due after ten years 659,253 642,279 Total $ 1,271,291 $ 1,241,105 |
Schedule of Unrealized Loss on Investments [Table Text Block] | March 31, 2018 Temporarily impaired securities Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Debt Securities Available-for-Sale U.S. treasury securities $ 74,829 $ 19 $ 49,766 $ 228 $ 124,595 $ 247 U.S. government agency entities 8,695 99 - - 8,695 99 U.S. government sponsored entities - - 385,920 14,080 385,920 14,080 State and municipal securities 903 20 - - 903 20 Mortgage-backed securities 437,818 11,042 167,958 6,152 605,776 17,194 Collateralized mortgage obligations 1,371 27 - - 1,371 27 Corporate debt securities 5,003 25 - - 5,003 25 Total debt securities $ 528,619 $ 11,232 $ 603,644 $ 20,460 $ 1,132,263 $ 31,692 Equity Securities Preferred stock of government sponsored entities 6,691 3,411 - - 6,691 3,411 Mutual funds - - 6,129 371 6,129 371 Other equity securities 11,334 436 - - 11,334 436 Total equity securities $ 18,025 $ 3,847 $ 6,129 $ 371 $ 24,154 $ 4,218 December 31, 2017 Temporarily impaired securities Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. treasury securities $ 199,823 $ 62 $ 49,697 $ 295 $ 249,520 $ 357 U.S. government agency entities 5,711 70 - - 5,711 70 U.S. government sponsored entities - - 390,336 9,664 390,336 9,664 State and municipal securities 1,914 30 - - 1,914 30 Mortgage-backed securities 342,436 3,147 178,617 3,112 521,053 6,259 Collateralized mortgage obligations 1,516 17 - - 1,516 17 Corporate debt securities 5,015 17 - - 5,015 17 Mutual funds - - 6,230 270 6,230 270 Total $ 556,415 $ 3,343 $ 624,880 $ 13,341 $ 1,181,295 $ 16,684 |
Note 8 - Loans (Tables)
Note 8 - Loans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2018 December 31, 2017 (In thousands) Commercial loans $ 2,436,421 $ 2,461,266 Residential mortgage loans 3,198,750 3,062,050 Commercial mortgage loans 6,610,254 6,482,695 Real estate construction loans 587,927 678,805 Equity lines 176,714 180,304 Installment & other loans 4,473 5,170 Gross loans $ 13,014,539 $ 12,870,290 Allowance for loan losses (122,084 ) (123,279 ) Unamortized deferred loan fees (3,289 ) (3,245 ) Total loans, net $ 12,889,166 $ 12,743,766 Loans held for sale $ - $ 8,000 |
Impaired Financing Receivables [Table Text Block] | Impaired Loans Average Recorded Investment Interest Income Recognized Three months ended Three months ended March 31, March 31, 2018 2017 2018 2017 Commercial loans $ 45,183 $ 23,335 $ 334 $ 83 Real estate construction loans 8,137 16,930 - 340 Commercial mortgage loans 58,598 61,405 644 445 Residential mortgage loans and equity lines 13,709 16,543 100 132 Total impaired loans $ 125,627 $ 118,213 $ 1,078 $ 1,000 |
Schedule Of Impaired Loans And Related Allowance And Charge Off [Table Text Block] | Impaired Loans March 31, 2018 December 31, 2017 Unpaid Principal Balance Recorded Investment Allowance Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 45,698 $ 44,680 $ - $ 43,483 $ 42,702 $ - Real estate construction loans 8,821 8,113 - 8,821 8,185 - Commercial mortgage loans 44,486 37,471 - 37,825 31,029 - Residential mortgage loans and equity lines 6,377 6,377 - 1,301 1,301 - Subtotal $ 105,382 $ 96,641 $ - $ 91,430 $ 83,217 $ - With allocated allowance Commercial loans $ 258 $ 231 $ 11 $ 891 $ 793 $ 43 Commercial mortgage loans 27,315 27,276 1,145 21,733 21,635 1,738 Residential mortgage loans and equity lines 9,091 7,965 346 13,022 11,708 353 Subtotal $ 36,664 $ 35,472 $ 1,502 $ 35,646 $ 34,136 $ 2,134 Total impaired loans $ 142,046 $ 132,113 $ 1,502 $ 127,076 $ 117,353 $ 2,134 |
Past Due Financing Receivables [Table Text Block] | March 31, 2018 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total Type of Loans: (In thousands) Commercial loans $ 15,571 $ 146 $ - $ 15,916 $ 31,633 $ 2,404,788 $ 2,436,421 Real estate construction loans 920 - - 8,113 9,033 578,894 587,927 Commercial mortgage loans 26,015 - - 17,780 43,795 6,566,459 6,610,254 Residential mortgage loans and equity lines 4,094 - - 7,519 11,613 3,363,851 3,375,464 Installment and other loans 170 95 - - 265 4,208 4,473 Total loans $ 46,770 $ 241 $ - $ 49,328 $ 96,339 $ 12,918,200 $ 13,014,539 December 31, 2017 30-59 Days Past Due 60-89 Days Past Due 90 Days or More Past Due Non-accrual Loans Total Past Due Loans Not Past Due Total Type of Loans: (In thousands) Commercial loans $ 11,079 $ 5,192 $ - $ 14,296 $ 30,567 $ 2,430,699 $ 2,461,266 Real estate construction loans 3,028 - - 8,185 11,213 667,592 678,805 Commercial mortgage loans 17,573 5,602 - 19,820 42,995 6,439,700 6,482,695 Residential mortgage loans and equity lines 6,613 732 - 6,486 13,831 3,228,523 3,242,354 Installment and other loans 103 - - - 103 5,067 5,170 Total loans $ 38,396 $ 11,526 $ - $ 48,787 $ 98,709 $ 12,771,581 $ 12,870,290 |
Schedule Of Troubled Debt Restructurings [Table Text Block] | Three months ended March 31, 2018 March 31, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (Dollars in thousands) Commercial loans 3 $ 2,463 $ 2,463 $ - $ - Commercial mortgage loans 6 14,287 14,287 - 134 Residential mortgage loans and equity lines 2 801 801 - 8 Total 11 $ 17,551 $ 17,551 $ - $ 142 Three months ended March 31, 2017 March 31, 2017 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (Dollars in thousands) Real estate construction loans 2 $ 27,683 $ 27,683 $ - $ - Total 2 $ 27,683 $ 27,683 $ - $ - |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | March 31, 2018 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 28,995 $ - $ - $ 28,995 Commercial mortgage loans 19,609 7,499 19,859 46,967 Residential mortgage loans 3,744 333 2,746 6,823 Total accruing TDRs $ 52,348 $ 7,832 $ 22,605 $ 82,785 December 31, 2017 Accruing TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 29,199 $ - $ - $ 29,199 Commercial mortgage loans 11,504 5,871 15,468 32,843 Residential mortgage loans 3,416 335 2,772 6,523 Total accruing TDRs $ 44,119 $ 6,206 $ 18,240 $ 68,565 |
Non Accrual Troubled Debt Restructurings [Table Text Block] | March 31, 2018 Non-accrual TDRs Payment Deferral Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 14,568 $ - $ 14,568 Commercial mortgage loans 4,011 10,871 14,882 Residential mortgage loans 1,594 151 1,745 Total non-accrual TDRs $ 20,173 $ 11,022 $ 31,195 December 31, 2017 Non-accrual TDRs Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Commercial loans $ 12,944 $ - $ - $ 12,944 Commercial mortgage loans 6,231 1,677 11,113 19,021 Residential mortgage loans 1,297 - 154 1,451 Total non-accrual TDRs $ 20,472 $ 1,677 $ 11,267 $ 33,416 |
Activity Within The Troubled Debt Resturings [Table Text Block] | Three months ended March 31, Accruing TDRs 2018 2017 (In thousands) Beginning balance $ 68,566 $ 65,393 New restructurings 17,320 27,683 Restructured loans restored to accrual status 2,318 - Payments (3,891 ) (4,595 ) Restructured loans placed on non-accrual status (1,528 ) (5,822 ) Expiration of loan concession upon renewal - (2,240 ) Ending balance $ 82,785 $ 80,419 Three months ended March 31, Non-accrual TDRs 2018 2017 (In thousands) Beginning balance $ 33,415 $ 29,722 New restructurings 231 - Restructured loans placed on non-accrual status 1,528 5,822 Charge-offs - (1,049 ) Payments (1,661 ) (990 ) Foreclosures - (726 ) Restructured loans restored to accrual status (2,318 ) - Ending balance $ 31,195 $ 32,779 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2018 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,224,463 $ 139,985 $ 71,973 $ - $ 2,436,421 Real estate construction loans 522,983 55,911 9,033 - 587,927 Commercial mortgage loans 6,202,696 292,647 114,911 - 6,610,254 Residential mortgage loans and equity lines 3,365,642 - 9,822 - 3,375,464 Installment and other loans 4,378 - 95 - 4,473 Total gross loans $ 12,320,162 $ 488,543 $ 205,834 $ - $ 13,014,539 Loans held for sale $ - $ - $ - $ - $ - December 31, 2017 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,281,698 $ 118,056 $ 61,503 $ 9 $ 2,461,266 Real estate construction loans 616,411 54,209 8,185 - 678,805 Commercial mortgage loans 6,004,258 308,924 169,513 - 6,482,695 Residential mortgage loans and equity lines 3,232,606 - 9,748 - 3,242,354 Installment and other loans 5,170 - - - 5,170 Total gross loans $ 12,140,143 $ 481,189 $ 248,949 $ 9 $ 12,870,290 Loans held for sale $ - $ - $ 8,000 $ - $ 8,000 |
Impairment Method [Member] | |
Notes Tables | |
Impaired Financing Receivables [Table Text Block] | Real Estate Commercial Residential Commercial Construction Mortgage Mortgage Loans Installment and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) March 31, 2018 Loans individually evaluated for impairment Allowance $ 11 $ - $ 1,145 $ 346 $ - $ 1,502 Balance $ 44,911 $ 8,113 $ 64,747 $ 14,342 $ - $ 132,113 Loans collectively evaluated for impairment Allowance $ 54,586 $ 21,864 $ 33,085 $ 11,026 $ 21 $ 120,582 Balance $ 2,391,510 $ 579,814 $ 6,545,507 $ 3,361,122 $ 4,473 $ 12,882,426 Total allowance $ 54,597 $ 21,864 $ 34,230 $ 11,372 $ 21 $ 122,084 Total balance $ 2,436,421 $ 587,927 $ 6,610,254 $ 3,375,464 $ 4,473 $ 13,014,539 December 31, 2017 Loans individually evaluated for impairment Allowance $ 43 $ - $ 1,738 $ 353 $ - $ 2,134 Balance $ 43,495 $ 8,185 $ 52,664 $ 13,009 $ - $ 117,353 Loans collectively evaluated for impairment Allowance $ 49,753 $ 24,838 $ 35,872 $ 10,660 $ 22 $ 121,145 Balance $ 2,417,771 $ 670,620 $ 6,430,031 $ 3,229,345 $ 5,170 $ 12,752,937 Total allowance $ 49,796 $ 24,838 $ 37,610 $ 11,013 $ 22 $ 123,279 Total balance $ 2,461,266 $ 678,805 $ 6,482,695 $ 3,242,354 $ 5,170 $ 12,870,290 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Other Loans Loans Loans and Equity Lines Loans Total (In thousands) 2018 Beginning Balance $ 49,796 $ 24,838 $ 37,610 $ 11,013 $ 22 $ 123,279 Provision/(credit) for possible credit losses 3,907 (3,018 ) (4,163 ) 275 (1 ) (3,000 ) Charge-offs (19 ) - - - - (19 ) Recoveries 913 44 783 84 - 1,824 Net recoveries 894 44 783 84 - 1,805 March 31, 2018 Ending Balance $ 54,597 $ 21,864 $ 34,230 $ 11,372 $ 21 $ 122,084 Reserve for impaired loans $ 11 $ - $ 1,145 $ 346 $ - $ 1,502 Reserve for non-impaired loans $ 54,586 $ 21,864 $ 33,085 $ 11,026 $ 21 $ 120,582 Reserve for off-balance sheet credit commitments $ 2,747 $ 1,515 $ 138 $ 182 $ 6 $ 4,588 2017 Beginning Balance $ 49,203 $ 23,268 $ 34,864 $ 11,620 $ 11 $ 118,966 (Credit)/provision for possible credit losses (1,214 ) (3,549 ) 1,362 898 3 (2,500 ) Charge-offs (1,204 ) - (555 ) - - (1,759 ) Recoveries 491 49 289 8 - 837 Net (charge-offs)/recoveries (713 ) 49 (266 ) 8 - (922 ) March 31, 2017 Ending Balance $ 47,276 $ 19,768 $ 35,960 $ 12,526 $ 14 $ 115,544 Reserve for impaired loans $ 1,062 $ - $ 818 $ 395 $ - $ 2,275 Reserve for non-impaired loans $ 46,214 $ 19,768 $ 35,142 $ 12,131 $ 14 $ 113,269 Reserve for off-balance sheet credit commitments $ 2,243 $ 909 $ 120 $ 146 $ 6 $ 3,424 |
Note 12 - Fair Value Measurem31
Note 12 - Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | March 31, 2018 Fair Value Measurements Using Total at Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Debt securities available-for-sale U.S. Treasury securities $ 124,595 $ - $ - $ 124,595 U.S. government agencies - 8,695 - 8,695 U.S. government sponsored entities - 385,920 - 385,920 State and municipal securities - 904 - 904 Mortgage-backed securities - 638,359 - 638,359 Collateralized mortgage obligations - 1,371 - 1,371 Corporate debt securities - 81,261 - 81,261 Total debt securities available-for-sale 124,595 1,116,510 - 1,241,105 Equity securities Preferred stock of government sponsored entities 6,691 - - 6,691 Mutual funds 6,129 - - 6,129 Other equity securities 11,334 - - 11,334 Total equity securities 24,154 - - 24,154 Warrants - - 195 195 Foreign exchange contracts - 1,539 - 1,539 Interest rate swaps - 11,674 - 11,674 Total assets $ 148,749 $ 1,129,723 $ 195 $ 1,278,667 Liabilities Option contracts $ - $ 3 $ - $ 3 Foreign exchange contracts - 924 - 924 Total liabilities $ - $ 927 $ - $ 927 December 31, 2017 Fair Value Measurements Using Total at Level 1 Level 2 Level 3 Fair Value (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 249,520 $ - $ - $ 249,520 U.S. government agency entities - 8,988 - 8,988 U.S. government sponsored entities - 390,336 - 390,336 State and municipal securities - 1,914 - 1,914 Mortgage-backed securities - 571,969 - 571,969 Collateralized mortgage obligations - 1,516 - 1,516 Corporate debt securities - 81,281 - 81,281 Mutual funds 6,230 - - 6,230 Preferred stock of government sponsored entities 10,102 - - 10,102 Other equity securities 11,770 - - 11,770 Total securities available-for-sale 277,622 1,056,004 - 1,333,626 Warrants - - 91 91 Interest rate swaps - 5,218 - 5,218 Foreign exchange contracts - 1,832 - 1,832 Total assets $ 277,622 $ 1,063,054 $ 91 $ 1,340,767 Liabilities Option contracts $ - $ 9 $ - $ 9 Interest rate swaps - 2,699 - 2,699 Foreign exchange contracts - 453 - 453 Total liabilities $ - $ 3,161 $ - $ 3,161 |
Fair Value Measurements, Nonrecurring [Table Text Block] | As of March 31, 2018 Total Losses Fair Value Measurements Using Total at For the Three Months Ended Level 1 Level 2 Level 3 Fair Value March 31, 2018 March 31, 2017 (In thousands) Assets Impaired loans by type: Commercial loans $ - $ - $ 220 $ 220 $ - $ 20 Commercial mortgage loans - - 26,131 26,131 - 250 Residential mortgage loans and equity lines - - 7,619 7,619 - - Total impaired loans - - 33,970 33,970 - 270 Other real estate owned (1) - 5,478 4,343 9,821 33 37 Investments in venture capital and private company stock - - 2,430 2,430 173 187 Total assets $ - $ 5,478 $ 40,743 $ 46,221 $ 206 $ 494 As of December 31, 2017 Total Losses Fair Value Measurements Using Total at For the Twelve Months Ended Level 1 Level 2 Level 3 Fair Value December 31, 2017 December 31, 2016 (In thousands) Assets Impaired loans by type: Commercial loans $ - $ - $ 18,097 $ 18,097 $ 25 $ 322 Commercial mortgage loans - - 31,459 31,459 - - Residential mortgage loans and equity lines - - 11,355 11,355 - - Total impaired loans - - 60,911 60,911 25 322 Other real estate owned (1) - 5,677 4,322 9,999 457 9 Investments in venture capital and private company stock - - 2,583 2,583 392 976 Total assets $ - $ 5,677 $ 67,816 $ 73,493 $ 874 $ 1,307 |
Note 13 - Fair Value of Finan32
Note 13 - Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2018 December 31, 2017 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 199,713 $ 199,713 $ 247,056 $ 247,056 Short-term investments and interest bearing deposits 524,012 524,012 292,745 292,745 Securities available-for-sale 1,241,105 1,241,105 1,333,626 1,333,626 Equity securities 24,154 24,154 - - Loans held for sale - - 8,000 8,000 Loans, net (1) 12,889,166 12,908,391 12,743,766 12,663,049 Investment in Federal Home Loan Bank stock 17,250 17,250 23,085 23,085 Warrants 195 195 91 91 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 78,021 $ 1,539 $ 108,530 $ 1,832 Interest rate swaps 681,055 11,674 514,159 5,218 Financial Liabilities Carrying Carrying Amount Fair Value Amount Fair Value Deposits $ 13,012,251 $ 13,032,828 $ 12,689,893 $ 12,700,674 Securities sold under agreements to repurchase 100,000 99,783 100,000 100,163 Advances from Federal Home Loan Bank 325,000 324,548 430,000 429,482 Other borrowings 53,178 51,367 52,885 51,075 Long-term debt 194,136 141,266 194,136 141,865 Notional Notional Amount Fair Value Amount Fair Value Option contracts $ 1,028 $ 3 $ 1,014 $ 9 Foreign exchange contracts 57,648 924 32,127 453 Interest rate swaps - - 145,399 2,699 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 2,487,710 $ (7,711 ) $ 2,366,368 $ (7,224 ) Standby letters of credit 142,674 (1,418 ) 140,814 (1,805 ) Other letters of credit 25,885 (13 ) 27,353 (52 ) Bill of lading guarantees 24 (0 ) 24 (0 ) |
Schedule Of Fair Value Of Financial Instruments [Table Text Block] | As of March 31, 2018 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 199,713 $ 199,713 $ - $ - Short-term investments and interest bearing deposits 524,012 524,012 - - Debt securities available-for-sale 1,241,105 124,595 1,116,510 - Equity securities 24,154 24,154 - - Loans, net (1) 12,908,391 - - 12,908,391 Investment in Federal Home Loan Bank stock 17,250 - 17,250 - Warrants 195 - - 195 Financial Liabilities Deposits 13,032,828 - - 13,032,828 Securities sold under agreement to repurchase 99,783 - 99,783 - Advances from Federal Home Loan Bank 324,548 - 324,548 - Other borrowings 51,367 - - 51,367 Long-term debt 141,266 - 141,266 - As of December 31, 2017 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 247,056 $ 247,056 $ - $ - Short-term investments and interest bearing deposits 292,745 292,745 - - Securities available-for-sale 1,333,626 277,622 1,056,004 - Loans held-for-sale 8,000 - - 8,000 Loans, net (1) 12,663,049 - - 12,663,049 Investment in Federal Home Loan Bank stock 23,085 - 23,085 - Warrants 91 - - 91 Financial Liabilities Deposits 12,700,674 - - 12,700,674 Securities sold under agreement to repurchase 100,163 - 100,163 - Advances from Federal Home Loan Bank 429,482 - 429,482 - Other borrowings 51,075 - - 51,075 Long-term debt 141,865 - 141,865 - |
Note 16 - Balance Sheet Offse33
Note 16 - Balance Sheet Offsetting (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | Gross Amounts Not Offset in the Balance Sheet Gross Amounts Recognized Gross Amounts Offset in the Balance Sheet Net Amounts Presented in the Balance Sheet Financial Instruments Collateral Posted Net Amount (In thousands) March 31, 2018 Assets: Derivatives $ 11,674 $ - $ 11,674 $ - $ - $ 11,674 Liabilities: Securities sold under agreements to repurchase $ 100,000 $ - $ 100,000 $ - $ (100,000 ) $ - December 31, 2017 Assets: Derivatives $ 5,218 $ - $ 5,218 $ - $ - $ 5,218 Liabilities: Securities sold under agreements to repurchase $ 100,000 $ - $ 100,000 $ - $ (100,000 ) $ - Derivatives $ 2,699 $ - $ 2,699 $ - $ (2,699 ) $ - |
Note 17 - Revenue from Contra34
Note 17 - Revenue from Contracts with Customers (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | March 31, 2018 March 31, 2017 (In thousands) Non-interest income, in-scope (1) : Fees and service charges on deposit accounts $ 2,318 $ 2,512 Wealth management fees 1,301 979 Other service fees (2) 3,248 3,169 Total noninterest income 6,867 6,660 Noninterest income, not in-scope (3) (1,557 ) 58 Total noninterest income $ 5,310 $ 6,718 |
Note 18 - Stockholders' Equity
Note 18 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended March 31, 2018 Three months ended March 31, 2017 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 $ (1,060 ) $ (1,545 ) Cash flow hedge derivatives (1,451 ) (2,170 ) Total $ (2,511 ) $ (3,715 ) Reclassification adjustment for stranded tax effects of Tax Cuts and Jobs Act (1) Securities available-for-sale - 200 (200 ) - - - Cash flow hedge derivatives - 315 (315 ) - - - Total - 515 (515 ) - - - Reclassification adjustment for equity securities (2) Equity securities (12,151 ) (3,592 ) (8,559 ) - - - Net unrealized (losses)/gains arising during the period Securities available-for-sale $ (16,346 ) $ (4,832 ) $ (11,514 ) $ (856 ) $ (360 ) $ (496 ) Cash flow hedge derivatives 3,113 920 2,193 516 217 299 Total (13,233 ) (3,912 ) (9,321 ) (340 ) (143 ) (197 ) Reclassification adjustment for net losses in net income Securities available-for-sale - - - 466 196 270 Cash flow hedge derivatives - - - - - - Total - - - 466 196 270 Total other comprehensive (loss)/income Securities available-for-sale (16,346 ) (4,832 ) (11,514 ) (390 ) (164 ) (226 ) Cash flow hedge derivatives 3,113 920 2,193 516 217 299 Total $ (13,233 ) $ (3,912 ) $ (9,321 ) $ 126 $ 53 $ 73 Ending balance, (loss)/gain, net of tax Securities available-for-sale $ (21,333 ) $ (1,771 ) Cash flow hedge derivatives 427 (1,871 ) Total $ (20,906 ) $ (3,642 ) |
Note 1 - Business (Details Text
Note 1 - Business (Details Textual) | Mar. 31, 2018 |
Number Of Limited Partnerships In Housing Investments | 8 |
Percentage of Subsidiaries Common Securities Owned by Parent Company | 100.00% |
Southern California [Member] | |
Number Of Branch Locations | 26 |
Northern California [Member] | |
Number Of Branch Locations | 15 |
New York [Member] | |
Number Of Branch Locations | 12 |
Illinois [Member] | |
Number Of Branch Locations | 3 |
WASHINGTON Member | |
Number Of Branch Locations | 3 |
Texas [Member] | |
Number Of Branch Locations | 2 |
Massachusetts [Member] | |
Number Of Branch Locations | 1 |
Nevada [Member] | |
Number Of Branch Locations | 1 |
New Jersey [Member] | |
Number Of Branch Locations | 1 |
HONG KONG | |
Number Of Branch Locations | 1 |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation (Details Textual) - USD ($) | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash and Cash Equivalents, Period Increase (Decrease), Total | $ 183,924,000 | $ (364,504,000) | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 723,725,000 | 820,580,000 | $ 539,801,000 | $ 1,185,084,000 |
Previously Reported [Member] | ||||
Net Cash Provided by (Used in) Investing Activities, Continuing Operations, Total | 251.60 | |||
Cash and Cash Equivalents, Period Increase (Decrease), Total | (27,500,000) | |||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 190,500,000 | $ 218,000,000 |
Note 3 - Recent Accounting Pr38
Note 3 - Recent Accounting Pronouncements (Details Textual) - USD ($) | Jan. 01, 2018 | Mar. 31, 2018 | Mar. 31, 2017 |
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | $ (3,847,000) | ||
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect | $ 515,000 | ||
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | |||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8,600,000 |
Note 4 - Acquisition (Details T
Note 4 - Acquisition (Details Textual) - SinoPac Bancorp [Member] - USD ($) | Dec. 12, 2017 | Nov. 14, 2017 | Nov. 04, 2017 | Jul. 14, 2017 | Mar. 31, 2018 |
Business Combination, Aggregate Purchase Price | $ 351,600,000 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 926,192 | ||||
Payments to Acquire Businesses, Gross | $ 100,000,000 | $ 100,000,000 | $ 284,984,000 | ||
Business Combination, Deferred Payments | $ 35,400,000 | $ 35,200,000 | |||
Business Combination, Addition Cash Consideration Related to Realized Gain from Sale of Building | $ 4,100,000 | ||||
Business Combination, Purchase Price Adjustments | $ 340,000 |
Note 4 - Acquisition - Fair Val
Note 4 - Acquisition - Fair Value of Assets and Liabilities Acquired (Details) - USD ($) | Nov. 14, 2017 | Nov. 04, 2017 | Jul. 14, 2017 | Mar. 31, 2018 | Mar. 31, 2017 |
Liabilities assumed: | |||||
Gain from acquisition | $ 340,000 | ||||
SinoPac Bancorp [Member] | |||||
Assets acquired: | |||||
Cash and cash equivalents | $ 166,932,000 | ||||
Short-term investments | 122,000,000 | ||||
Securities available-for-sale | 88,044,000 | ||||
FHLB and FRB stock | 19,890,000 | ||||
Loans | 705,792,000 | ||||
Premises and equipment | 6,239,000 | ||||
Cash surrender value of life insurance | 46,083,000 | ||||
Deferred tax assets, net | 40,690,000 | ||||
Core deposit intangible | 6,122,000 | ||||
Accrued interest receivable and other assets | 10,689,000 | ||||
Total assets acquired | 1,212,481,000 | ||||
Liabilities assumed: | |||||
Deposits | 813,888,000 | ||||
Advances from the Federal Home Loan Bank | 30,000,000 | ||||
Accrued interest payable and other liabilities | 8,512,000 | ||||
Total liabilities assumed | 852,400,000 | ||||
Net assets acquired | 360,081,000 | ||||
Cash paid | $ 100,000,000 | $ 100,000,000 | 284,984,000 | ||
Fair value of common stock issued | 34,862,000 | ||||
Total consideration paid | 319,846,000 | ||||
Purchase price payable to SinoPac | 34,267,000 | ||||
Total consideration | 354,113,000 | ||||
Gain from acquisition | $ 5,968,000 |
Note 5 - Earnings Per Share - E
Note 5 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net income | $ 63,816 | $ 48,941 |
Weighted-average shares: | ||
Basic weighted-average number of common shares outstanding (in shares) | 81,123,380 | 79,703,593 |
Dilutive effect of weighted-average outstanding common share equivalents | ||
Diluted weighted-average number of common shares outstanding (in shares) | 81,680,445 | 80,413,178 |
Average stock options and restricted stock units with anti-dilutive effect (in shares) | 38,906 | 19,900 |
Basic (in dollars per share) | $ 0.79 | $ 0.61 |
Diluted (in dollars per share) | $ 0.78 | $ 0.61 |
Warrant [Member] | ||
Dilutive effect of weighted-average outstanding common share equivalents | ||
Warrants (in shares) | 295,453 | 416,607 |
Employee Stock Option [Member] | ||
Dilutive effect of weighted-average outstanding common share equivalents | ||
Warrants (in shares) | 33,888 | |
Restricted Stock Units (RSUs) [Member] | ||
Dilutive effect of weighted-average outstanding common share equivalents | ||
Warrants (in shares) | 261,612 | 259,090 |
Note 6 - Stock-based Compensa42
Note 6 - Stock-based Compensation (Details Textual) | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018USD ($)$ / sharesshares | Mar. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2017shares | Dec. 31, 2016shares | Dec. 31, 2015shares | Dec. 31, 2014shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 35,880 | 18,040 | ||||
Proceeds from Stock Options Exercised | $ | $ 838,000 | $ 422,000 | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares | $ 23.37 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | $ 718,000 | 262,000 | ||||
Benefit (Shortfall) of Tax Deductions from Share-based Compensation | $ | $ 700,000 | $ 2,600,000 | ||||
2005 Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,608,672 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 122,674 | 87,781 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 43.50 | $ 38.59 | ||||
Number of Officers Receiving Award | 6 | 6 | 7 | 7 | 7 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Allocated Share-based Compensation Expense, Total | $ | $ 1,500,000 | $ 1,200,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ | $ 15,100,000 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 109 days | |||||
Performance TSR Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 23,556 | 30,319 | 61,209 | 60,456 | ||
Performance EPS Restricted Stock Units [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 55,455 | 58,241 | 57,409 | 57,642 | ||
Performance ROA Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 22,377 | 29,119 |
Note 6 - Stock-based Compensa43
Note 6 - Stock-based Compensation - Restricted Stock Units (Details) - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2018shares | |
Balance (in shares) | 561,610 |
Granted (in shares) | 178,129 |
Distributed (in shares) | (109,454) |
Forfeited (in shares) | (4,010) |
Balance (in shares) | 626,275 |
Note 7 - Investment Securitie44
Note 7 - Investment Securities (Details Textual) - USD ($) | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | |
Debt Securities, Available-for-sale, Total | $ 1,241,105,000 | $ 1,300,000,000 | $ 1,333,626,000 | |
Proceeds from Sale of Mortgage-backed Securities (MBS), Available-for-sale | 0 | 0 | ||
Proceeds from Maturities, Prepayments and Calls of Mortgage Backed Securities (MBS) | 22,900,000 | 15,400,000 | ||
Proceeds From Sales And Repayments Of Other Investment Securities | 0 | 99,500,000 | ||
Proceeds from Maturities Repayments and Calls of Other Investment Securities | 151,000,000 | 70,000,000 | ||
Realized Loss From Sale And Call Of Investment Securities | 0 | 438,000 | ||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | 0 | 28,000 | ||
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | (3,847,000) | |||
Equity Securities, FV-NI | 24,154,000 | 28,100,000 | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss, Total | 31,700,000 | 16,684,000 | ||
Pledged Investment Securities | $ 231,000,000 | $ 272,200,000 | ||
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8,600,000 |
Note 7 - Investment Securitie45
Note 7 - Investment Securities - Investment Securities (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Investment securities available for sale, amortized cost | $ 1,271,291,000 | $ 1,336,345,000 | |
Investment securities available for sale, gross unrealized gains | 1,506,000 | 13,965,000 | |
Investment securities available for sale, gross unrealized losses | 31,692,000 | 16,684,000 | |
Securities available-for-sale | 1,241,105,000 | 1,333,626,000 | $ 1,300,000,000 |
US Treasury Securities [Member] | |||
Investment securities available for sale, amortized cost | 124,842,000 | 249,877,000 | |
Investment securities available for sale, gross unrealized gains | |||
Investment securities available for sale, gross unrealized losses | 247,000 | 357,000 | |
Securities available-for-sale | 124,595,000 | 249,520,000 | |
US Government Corporations and Agencies Securities [Member] | |||
Investment securities available for sale, amortized cost | 8,794,000 | 9,047,000 | |
Investment securities available for sale, gross unrealized gains | 11,000 | ||
Investment securities available for sale, gross unrealized losses | 99,000 | 70,000 | |
Securities available-for-sale | 8,695,000 | 8,988,000 | |
US Government-sponsored Enterprises Debt Securities [Member] | |||
Investment securities available for sale, amortized cost | 400,000,000 | 400,000,000 | |
Investment securities available for sale, gross unrealized gains | |||
Investment securities available for sale, gross unrealized losses | 14,080,000 | 9,664,000 | |
Securities available-for-sale | 385,920,000 | 390,336,000 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Investment securities available for sale, amortized cost | 924,000 | 1,944,000 | |
Investment securities available for sale, gross unrealized gains | |||
Investment securities available for sale, gross unrealized losses | 20,000 | 30,000 | |
Securities available-for-sale | 904,000 | 1,914,000 | |
Collateralized Mortgage Backed Securities [Member] | |||
Investment securities available for sale, amortized cost | 655,327,000 | 577,987,000 | |
Investment securities available for sale, gross unrealized gains | 226,000 | 241,000 | |
Investment securities available for sale, gross unrealized losses | 17,194,000 | 6,259,000 | |
Securities available-for-sale | 638,359,000 | 571,969,000 | |
Collateralized Mortgage Obligations [Member] | |||
Investment securities available for sale, amortized cost | 1,398,000 | 1,533,000 | |
Investment securities available for sale, gross unrealized gains | |||
Investment securities available for sale, gross unrealized losses | 27,000 | 17,000 | |
Securities available-for-sale | 1,371,000 | 1,516,000 | |
Corporate Debt Securities [Member] | |||
Investment securities available for sale, amortized cost | 80,006,000 | 80,007,000 | |
Investment securities available for sale, gross unrealized gains | 1,280,000 | 1,291,000 | |
Investment securities available for sale, gross unrealized losses | 25,000 | 17,000 | |
Securities available-for-sale | $ 81,261,000 | 81,281,000 | |
Mutual Funds [Member] | |||
Investment securities available for sale, amortized cost | 6,500,000 | ||
Investment securities available for sale, gross unrealized gains | |||
Investment securities available for sale, gross unrealized losses | 270,000 | ||
Securities available-for-sale | 6,230,000 | ||
Preferred Stock of Government Sponsored Entities [Member] | |||
Investment securities available for sale, amortized cost | 5,842,000 | ||
Investment securities available for sale, gross unrealized gains | 4,260,000 | ||
Investment securities available for sale, gross unrealized losses | |||
Securities available-for-sale | 10,102,000 | ||
Other Equity Securities [Member] | |||
Investment securities available for sale, amortized cost | 3,608,000 | ||
Investment securities available for sale, gross unrealized gains | 8,162,000 | ||
Investment securities available for sale, gross unrealized losses | |||
Securities available-for-sale | $ 11,770,000 |
Note 7 - Investment Securitie46
Note 7 - Investment Securities - Investments by Contractual Maturity Date (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Due in one year or less, Amortized Cost | $ 140,165,000 | |||
Due in one year or less, Fair Value | 139,922,000 | |||
Due after one year through five years, Amortized Cost | 466,090,000 | |||
Due after one year through five years, Fair Value | 453,280,000 | |||
Due after five years through ten years, Amortized Cost | 5,783,000 | |||
Due after five years through ten years, Fair Value | 5,624,000 | |||
Due after ten years (1), Amortized Cost | [1] | 659,253,000 | ||
Due after ten years (1), Fair Value | [1] | 642,279,000 | ||
Total, Amortized Cost | 1,271,291,000 | $ 1,336,345,000 | ||
Total, Fair Value | $ 1,241,105,000 | $ 1,333,626,000 | $ 1,300,000,000 | |
[1] | Equity securities are reported in this category |
Note 7 - Investment Securitie47
Note 7 - Investment Securities - Temporarily Impaired Securities (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Temporarily impaired securities, less than 12 months, fair value | $ 556,415,000 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 3,343,000 | |
Temporarily impaired securities, 12 months or longer, fair value | 624,880,000 | |
Temporarily impaired securities, 12 months or longer, unrealized losses | 13,341,000 | |
Temporarily impaired securities, total fair value | 1,181,295,000 | |
Temporarily impaired securities, total unrealized losses | $ 31,700,000 | 16,684,000 |
US Treasury Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 74,829,000 | 199,823,000 |
Temporarily impaired securities, less than 12 months, unrealized losses | 19,000 | 62,000 |
Temporarily impaired securities, 12 months or longer, fair value | 49,766,000 | 49,697,000 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 228,000 | 295,000 |
Temporarily impaired securities, total fair value | 124,595,000 | 249,520,000 |
Temporarily impaired securities, total unrealized losses | 247,000 | 357,000 |
US Government Corporations and Agencies Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 8,695,000 | 5,711,000 |
Temporarily impaired securities, less than 12 months, unrealized losses | 99,000 | 70,000 |
Temporarily impaired securities, 12 months or longer, fair value | ||
Temporarily impaired securities, 12 months or longer, unrealized losses | ||
Temporarily impaired securities, total fair value | 8,695,000 | 5,711,000 |
Temporarily impaired securities, total unrealized losses | 99,000 | 70,000 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | ||
Temporarily impaired securities, less than 12 months, unrealized losses | ||
Temporarily impaired securities, 12 months or longer, fair value | 385,920,000 | 390,336,000 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 14,080,000 | 9,664,000 |
Temporarily impaired securities, total fair value | 385,920,000 | 390,336,000 |
Temporarily impaired securities, total unrealized losses | 14,080,000 | 9,664,000 |
US States and Political Subdivisions Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 903,000 | 1,914,000 |
Temporarily impaired securities, less than 12 months, unrealized losses | 20,000 | 30,000 |
Temporarily impaired securities, 12 months or longer, fair value | ||
Temporarily impaired securities, 12 months or longer, unrealized losses | ||
Temporarily impaired securities, total fair value | 903,000 | 1,914,000 |
Temporarily impaired securities, total unrealized losses | 20,000 | 30,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 437,818,000 | 342,436,000 |
Temporarily impaired securities, less than 12 months, unrealized losses | 11,042,000 | 3,147,000 |
Temporarily impaired securities, 12 months or longer, fair value | 167,958,000 | 178,617,000 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 6,152,000 | 3,112,000 |
Temporarily impaired securities, total fair value | 605,776,000 | 521,053,000 |
Temporarily impaired securities, total unrealized losses | 17,194,000 | 6,259,000 |
Collateralized Mortgage Obligations [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 1,371,000 | 1,516,000 |
Temporarily impaired securities, less than 12 months, unrealized losses | 27,000 | 17,000 |
Temporarily impaired securities, 12 months or longer, fair value | ||
Temporarily impaired securities, 12 months or longer, unrealized losses | ||
Temporarily impaired securities, total fair value | 1,371,000 | 1,516,000 |
Temporarily impaired securities, total unrealized losses | 27,000 | 17,000 |
Corporate Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 5,003,000 | 5,015,000 |
Temporarily impaired securities, less than 12 months, unrealized losses | 25,000 | 17,000 |
Temporarily impaired securities, 12 months or longer, fair value | ||
Temporarily impaired securities, 12 months or longer, unrealized losses | ||
Temporarily impaired securities, total fair value | 5,003,000 | 5,015,000 |
Temporarily impaired securities, total unrealized losses | 25,000 | 17,000 |
Total Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 528,619,000 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 11,232,000 | |
Temporarily impaired securities, 12 months or longer, fair value | 603,644,000 | |
Temporarily impaired securities, 12 months or longer, unrealized losses | 20,460,000 | |
Temporarily impaired securities, total fair value | 1,132,263,000 | |
Temporarily impaired securities, total unrealized losses | 31,692,000 | |
Mutual Funds [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | ||
Temporarily impaired securities, less than 12 months, unrealized losses | ||
Temporarily impaired securities, 12 months or longer, fair value | 6,129,000 | 6,230,000 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 371,000 | 270,000 |
Temporarily impaired securities, total fair value | 6,129,000 | 6,230,000 |
Temporarily impaired securities, total unrealized losses | 371,000 | $ 270,000 |
Preferred Stock of Government Sponsored Entities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 6,691,000 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 3,411,000 | |
Temporarily impaired securities, 12 months or longer, fair value | ||
Temporarily impaired securities, 12 months or longer, unrealized losses | ||
Temporarily impaired securities, total fair value | 6,691,000 | |
Temporarily impaired securities, total unrealized losses | 3,411,000 | |
Other Equity Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 11,334,000 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 436,000 | |
Temporarily impaired securities, 12 months or longer, fair value | ||
Temporarily impaired securities, 12 months or longer, unrealized losses | ||
Temporarily impaired securities, total fair value | 11,334,000 | |
Temporarily impaired securities, total unrealized losses | 436,000 | |
Total Equity Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 18,025,000 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 3,847,000 | |
Temporarily impaired securities, 12 months or longer, fair value | 6,129,000 | |
Temporarily impaired securities, 12 months or longer, unrealized losses | 371,000 | |
Temporarily impaired securities, total fair value | 24,154,000 | |
Temporarily impaired securities, total unrealized losses | $ 4,218,000 |
Note 8 - Loans (Details Textual
Note 8 - Loans (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Impaired Financing Receivable, Recorded Investment, Total | $ 132,113,000 | $ 117,353,000 | |||
Percentage Of Charge Off To Contractual Balances For Impaired Loans | 6.40% | 7.20% | |||
Allowance for Credit Losses, Change in Method of Calculating Impairment | $ 142,000 | ||||
Financing Receivable, Modifications, Subsequent Default, Recorded Investment | 0 | ||||
Loans and Leases Receivable, Impaired, Commitment to Lend | 0 | ||||
Minimum [Member] | |||||
Period Loan Is In Payment Default | 60 days | ||||
Maximum [Member] | |||||
Period Loan Is In Payment Default | 90 days | ||||
Nonaccrual Loans [Member] | |||||
Impaired Financing Receivable, Recorded Investment, Total | $ 48,800,000 | ||||
Accruing Troubled Debt Restructuring [Member] | |||||
Impaired Financing Receivable, Recorded Investment, Total | 68,600,000 | ||||
Financing Receivable, Modifications, Recorded Investment | 82,800,000 | 68,600,000 | |||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 1,200,000 | 1,900,000 | |||
Non-accruing Troubled Debt Restructuring [Member] | |||||
Financing Receivable, Modifications, Recorded Investment | 31,200,000 | 33,400,000 | |||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 75,000 | 83,000 | |||
Nonaccrual Loans [Member] | |||||
Impaired Financing Receivable, Recorded Investment, Total | 49,300,000 | ||||
Accruing Troubled Debt Restructuring [Member] | |||||
Impaired Financing Receivable, Recorded Investment, Total | 82,800,000 | ||||
Financing Receivable, Modifications, Recorded Investment | $ 82,785,000 | $ 68,565,000 | $ 80,419,000 | $ 65,393,000 |
Note 8 - Loans - Components of
Note 8 - Loans - Components of Loans in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Loans | $ 13,014,539 | $ 12,870,290 |
Less: Allowance for loan losses | (122,084) | (123,279) |
Unamortized deferred loan fees, net | (3,289) | (3,245) |
Total loans, net | 12,889,166 | 12,743,766 |
Loans held for sale | 8,000 | |
Commercial Portfolio Segment [Member] | ||
Loans | 2,436,421 | 2,461,266 |
Less: Allowance for loan losses | (54,597) | (49,796) |
Residential Portfolio Segment [Member] | ||
Loans | 3,198,750 | 3,062,050 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 6,610,254 | 6,482,695 |
Less: Allowance for loan losses | (34,230) | (37,610) |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 587,927 | 678,805 |
Less: Allowance for loan losses | (21,864) | (24,838) |
Equity Lines Portfolio Segment [Member] | ||
Loans | 176,714 | 180,304 |
Consumer Portfolio Segment [Member] | ||
Loans | 4,473 | 5,170 |
Less: Allowance for loan losses | $ (21) | $ (22) |
Note 8 - Loans - Average Balanc
Note 8 - Loans - Average Balance and Interest Income Recognized Related to Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Impaired Loans Average Recorded Investment | $ 125,627 | $ 118,213 |
Impaired Loans Interest Income Recognized | 1,078 | 1,000 |
Commercial Portfolio Segment [Member] | ||
Impaired Loans Average Recorded Investment | 45,183 | 23,335 |
Impaired Loans Interest Income Recognized | 334 | 83 |
Real Estate Construction Portfolio Segment [Member] | ||
Impaired Loans Average Recorded Investment | 8,137 | 16,930 |
Impaired Loans Interest Income Recognized | 340 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Impaired Loans Average Recorded Investment | 58,598 | 61,405 |
Impaired Loans Interest Income Recognized | 644 | 445 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Impaired Loans Average Recorded Investment | 13,709 | 16,543 |
Impaired Loans Interest Income Recognized | $ 100 | $ 132 |
Note 8 - Loans - Impaired Loans
Note 8 - Loans - Impaired Loans and Related Allowance for Credit Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Loans with no related allowance, unpaid principal balance | $ 105,382 | $ 91,430 |
Loans with no related allowance, recorded investment | 96,641 | 83,217 |
Loans with related allowance, unpaid principal balance | 36,664 | 35,646 |
Loans with related allowance, recorded investment | 35,472 | 34,136 |
Allowance | 1,502 | 2,134 |
Total impaired loans, unpaid principal balance | 142,046 | 127,076 |
Total impaired loans, recorded investment | 132,113 | 117,353 |
Commercial Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 45,698 | 43,483 |
Loans with no related allowance, recorded investment | 44,680 | 42,702 |
Loans with related allowance, unpaid principal balance | 258 | 891 |
Loans with related allowance, recorded investment | 231 | 793 |
Allowance | 11 | 43 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 8,821 | 8,821 |
Loans with no related allowance, recorded investment | 8,113 | 8,185 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 44,486 | 37,825 |
Loans with no related allowance, recorded investment | 37,471 | 31,029 |
Loans with related allowance, unpaid principal balance | 27,315 | 21,733 |
Loans with related allowance, recorded investment | 27,276 | 21,635 |
Allowance | 1,145 | 1,738 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 6,377 | 1,301 |
Loans with no related allowance, recorded investment | 6,377 | 1,301 |
Loans with related allowance, unpaid principal balance | 9,091 | 13,022 |
Loans with related allowance, recorded investment | 7,965 | 11,708 |
Allowance | $ 346 | $ 353 |
Note 8 - Loans - Aging of Loan
Note 8 - Loans - Aging of Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Loans past due | $ 96,339 | $ 98,709 |
Non-accrual loans | 49,328 | 48,787 |
Loans not past due | 12,918,200 | 12,771,581 |
Loans | 13,014,539 | 12,870,290 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 46,770 | 38,396 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 241 | 11,526 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Commercial Portfolio Segment [Member] | ||
Loans past due | 31,633 | 30,567 |
Non-accrual loans | 15,916 | 14,296 |
Loans not past due | 2,404,788 | 2,430,699 |
Loans | 2,436,421 | 2,461,266 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 11,079 | |
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 146 | 5,192 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Real Estate Construction Portfolio Segment [Member] | ||
Loans past due | 9,033 | 11,213 |
Non-accrual loans | 8,113 | 8,185 |
Loans not past due | 578,894 | 667,592 |
Loans | 587,927 | 678,805 |
Real Estate Construction Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 920 | 3,028 |
Real Estate Construction Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | ||
Real Estate Construction Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Commercial Real Estate Portfolio Segment [Member] | ||
Loans past due | 43,795 | 42,995 |
Non-accrual loans | 17,780 | 19,820 |
Loans not past due | 6,566,459 | 6,439,700 |
Loans | 6,610,254 | 6,482,695 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 26,015 | 17,573 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 5,602 | |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans past due | 11,613 | 13,831 |
Non-accrual loans | 7,519 | 6,486 |
Loans not past due | 3,363,851 | 3,228,523 |
Loans | 3,375,464 | 3,242,354 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 4,094 | 6,613 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 732 | |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due | ||
Installment and Other Loans [Member ] | ||
Loans past due | 265 | 103 |
Non-accrual loans | ||
Loans not past due | 4,208 | 5,067 |
Loans | 4,473 | 5,170 |
Installment and Other Loans [Member ] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Loans past due | 170 | 103 |
Installment and Other Loans [Member ] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Loans past due | 95 | |
Installment and Other Loans [Member ] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Loans past due |
Note 8 - Loans - Troubled Debt
Note 8 - Loans - Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018USD ($) | Mar. 31, 2017USD ($) | |
No. of Contracts | 11 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 17,551 | $ 27,683 |
Post-Modification Outstanding Recorded Investment | 17,551 | 27,683 |
Special Reserve | $ 142 | |
Commercial Portfolio Segment [Member] | ||
No. of Contracts | 3 | |
Pre-Modification Outstanding Recorded Investment | $ 2,463 | |
Post-Modification Outstanding Recorded Investment | 2,463 | |
Special Reserve | ||
Real Estate Construction Portfolio Segment [Member] | ||
No. of Contracts | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 27,683 | |
Post-Modification Outstanding Recorded Investment | 27,683 | |
Special Reserve | ||
Commercial Real Estate Portfolio Segment [Member] | ||
No. of Contracts | 6 | |
Pre-Modification Outstanding Recorded Investment | $ 14,287 | |
Post-Modification Outstanding Recorded Investment | 14,287 | |
Special Reserve | $ 134 | |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
No. of Contracts | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 801 | |
Post-Modification Outstanding Recorded Investment | 801 | |
Special Reserve | $ 8 |
Note 8 - Loans - Accruing Troub
Note 8 - Loans - Accruing Troubled Debt Restructurings (Details) - Accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accruing TDRs | $ 82,785 | $ 68,565 | $ 80,419 | $ 65,393 |
Payment Deferral [Member] | ||||
Accruing TDRs | 52,348 | 44,119 | ||
Contractual Interest Rate Reduction [Member] | ||||
Accruing TDRs | 7,832 | 6,206 | ||
Rate Reduction and Payment Deferral [Member] | ||||
Accruing TDRs | 22,605 | 18,240 | ||
Commercial Portfolio Segment [Member] | ||||
Accruing TDRs | 28,995 | 29,199 | ||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||
Accruing TDRs | 28,995 | 29,199 | ||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||
Accruing TDRs | ||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||
Accruing TDRs | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||
Accruing TDRs | 46,967 | 32,843 | ||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||
Accruing TDRs | 19,609 | 11,504 | ||
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||
Accruing TDRs | 7,499 | 5,871 | ||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||
Accruing TDRs | 19,859 | 15,468 | ||
Residential Portfolio Segment [Member] | ||||
Accruing TDRs | 6,823 | 6,523 | ||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||
Accruing TDRs | 3,744 | 3,416 | ||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||
Accruing TDRs | 333 | 335 | ||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||
Accruing TDRs | $ 2,746 | $ 2,772 |
Note 8 - Loans - Non-accrual Tr
Note 8 - Loans - Non-accrual Troubled Debt Restructurings (Details) - Non-accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accruing TDRs | $ 31,195 | $ 33,416 | $ 32,779 | $ 29,722 |
Payment Deferral [Member] | ||||
Accruing TDRs | 20,173 | 20,472 | ||
Rate Reduction and Payment Deferral [Member] | ||||
Accruing TDRs | 11,022 | 11,267 | ||
Contractual Interest Rate Reduction [Member] | ||||
Accruing TDRs | 1,677 | |||
Commercial Portfolio Segment [Member] | ||||
Accruing TDRs | 14,568 | 12,944 | ||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||
Accruing TDRs | 14,568 | 12,944 | ||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||
Accruing TDRs | ||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||
Accruing TDRs | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||
Accruing TDRs | 14,882 | 19,021 | ||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||
Accruing TDRs | 4,011 | 6,231 | ||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||
Accruing TDRs | 10,871 | 11,113 | ||
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||
Accruing TDRs | 1,677 | |||
Residential Portfolio Segment [Member] | ||||
Accruing TDRs | 1,745 | 1,451 | ||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||
Accruing TDRs | 1,594 | 1,297 | ||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||
Accruing TDRs | $ 151 | 154 | ||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||
Accruing TDRs |
Note 8 - Loans - Troubled Deb56
Note 8 - Loans - Troubled Debt Restructuring Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Accruing Troubled Debt Restructuring [Member] | ||
Beginning balance | $ 68,565 | $ 65,393 |
New restructurings | 17,320 | 27,683 |
Restructured loans restored to accrual status | 2,318 | |
Payments | (3,891) | (4,595) |
Restructured loans placed on non-accrual status | (1,528) | (5,822) |
Expiration of loan concession upon renewal | (2,240) | |
Restructured loans placed on non-accrual status | 1,528 | 5,822 |
Ending balance | 82,785 | 80,419 |
Non-accruing Troubled Debt Restructuring [Member] | ||
Beginning balance | 33,416 | 29,722 |
New restructurings | 231 | |
Restructured loans restored to accrual status | (2,318) | |
Payments | (1,661) | (990) |
Restructured loans placed on non-accrual status | (1,528) | (5,822) |
Restructured loans placed on non-accrual status | 1,528 | 5,822 |
Charge-offs | (1,049) | |
Foreclosures | (726) | |
Ending balance | $ 31,195 | $ 32,779 |
Note 8 - Loans - Portfolio by R
Note 8 - Loans - Portfolio by Risk Rating (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Loans | $ 13,014,539 | $ 12,870,290 |
Loans held for sale | 8,000 | |
Commercial Portfolio Segment [Member] | ||
Loans | 2,436,421 | 2,461,266 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 587,927 | 678,805 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 6,610,254 | 6,482,695 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 3,375,464 | 3,242,354 |
Consumer Portfolio Segment [Member] | ||
Loans | 4,473 | 5,170 |
Pass [Member] | ||
Loans | 12,320,162 | 12,140,143 |
Loans held for sale | ||
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 2,224,463 | 2,281,698 |
Pass [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 522,983 | 616,411 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 6,202,696 | 6,004,258 |
Pass [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 3,365,642 | 3,232,606 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 4,378 | 5,170 |
Special Mention [Member] | ||
Loans | 488,543 | 481,189 |
Loans held for sale | ||
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 139,985 | 118,056 |
Special Mention [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 55,911 | 54,209 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 292,647 | 308,924 |
Special Mention [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | ||
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | ||
Substandard [Member] | ||
Loans | 205,834 | 248,949 |
Loans held for sale | 8,000 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 71,973 | 61,503 |
Substandard [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 9,033 | 8,185 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 114,911 | 169,513 |
Substandard [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 9,822 | 9,748 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 95 | |
Doubtful [Member] | ||
Loans | 9 | |
Loans held for sale | ||
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 9 | |
Doubtful [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | ||
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans |
Note 8 - Loans - Allowance for
Note 8 - Loans - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Method (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Loans individually evaluated for impairment, allowance | $ 1,502 | $ 2,134 | |
Loans individually evaluated for impairment, balance | 132,113 | 117,353 | |
Loans collectively evaluated for impairment, allowance | 120,582 | 121,145 | |
Loans collectively evaluated for impairment, balance | 12,882,426 | 12,752,937 | |
Loans, allowance | 122,084 | 123,279 | |
Loans | 13,014,539 | 12,870,290 | |
Beginning Balance | 123,279 | $ 118,966 | |
Provision/(credit) for possible credit losses | (3,000) | (2,500) | |
Charge-offs | (19) | (1,759) | |
Recoveries | 1,824 | 837 | |
Net recoveries | 1,805 | (922) | |
Ending Balance | 122,084 | 115,544 | |
Reserve for impaired loans | 1,502 | 2,275 | |
Reserve for non-impaired loans | 120,582 | 113,269 | |
Reserve for off-balance sheet credit commitments | 4,588 | 3,424 | |
Commercial Portfolio Segment [Member] | |||
Loans individually evaluated for impairment, allowance | 11 | 43 | |
Loans individually evaluated for impairment, balance | 44,911 | 43,495 | |
Loans collectively evaluated for impairment, allowance | 54,586 | 49,753 | |
Loans collectively evaluated for impairment, balance | 2,391,510 | 2,417,771 | |
Loans, allowance | 54,597 | 49,796 | |
Loans | 2,436,421 | 2,461,266 | |
Beginning Balance | 49,796 | 49,203 | |
Provision/(credit) for possible credit losses | 3,907 | (1,214) | |
Charge-offs | (19) | (1,204) | |
Recoveries | 913 | 491 | |
Net recoveries | 894 | (713) | |
Ending Balance | 54,597 | 47,276 | |
Reserve for impaired loans | 11 | 1,062 | |
Reserve for non-impaired loans | 54,586 | 46,214 | |
Reserve for off-balance sheet credit commitments | 2,747 | 2,243 | |
Real Estate Construction Portfolio Segment [Member] | |||
Loans individually evaluated for impairment, allowance | |||
Loans individually evaluated for impairment, balance | 8,113 | 8,185 | |
Loans collectively evaluated for impairment, allowance | 21,864 | 24,838 | |
Loans collectively evaluated for impairment, balance | 579,814 | 670,620 | |
Loans, allowance | 21,864 | 24,838 | |
Loans | 587,927 | 678,805 | |
Beginning Balance | 24,838 | 23,268 | |
Provision/(credit) for possible credit losses | (3,018) | (3,549) | |
Charge-offs | |||
Recoveries | 44 | 49 | |
Net recoveries | 44 | 49 | |
Ending Balance | 21,864 | 19,768 | |
Reserve for impaired loans | |||
Reserve for non-impaired loans | 21,864 | 19,768 | |
Reserve for off-balance sheet credit commitments | 1,515 | 909 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans individually evaluated for impairment, allowance | 1,145 | 1,738 | |
Loans individually evaluated for impairment, balance | 64,747 | 52,664 | |
Loans collectively evaluated for impairment, allowance | 33,085 | 35,872 | |
Loans collectively evaluated for impairment, balance | 6,545,507 | 6,430,031 | |
Loans, allowance | 34,230 | 37,610 | |
Loans | 6,610,254 | 6,482,695 | |
Beginning Balance | 37,610 | 34,864 | |
Provision/(credit) for possible credit losses | (4,163) | 1,362 | |
Charge-offs | (555) | ||
Recoveries | 783 | 289 | |
Net recoveries | 783 | (266) | |
Ending Balance | 34,230 | 35,960 | |
Reserve for impaired loans | 1,145 | 818 | |
Reserve for non-impaired loans | 33,085 | 35,142 | |
Reserve for off-balance sheet credit commitments | 138 | 120 | |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | |||
Loans individually evaluated for impairment, allowance | 346 | 353 | |
Loans individually evaluated for impairment, balance | 14,342 | 13,009 | |
Loans collectively evaluated for impairment, allowance | 11,026 | 10,660 | |
Loans collectively evaluated for impairment, balance | 3,361,122 | 3,229,345 | |
Loans, allowance | 11,372 | 11,013 | |
Loans | 3,375,464 | 3,242,354 | |
Beginning Balance | 11,013 | 11,620 | |
Provision/(credit) for possible credit losses | 275 | 898 | |
Charge-offs | |||
Recoveries | 84 | 8 | |
Net recoveries | 84 | 8 | |
Ending Balance | 11,372 | 12,526 | |
Reserve for impaired loans | 346 | 395 | |
Reserve for non-impaired loans | 11,026 | 12,131 | |
Reserve for off-balance sheet credit commitments | 182 | 146 | |
Installment and Other Loans [Member ] | |||
Loans | 4,473 | 5,170 | |
Beginning Balance | 22 | 11 | |
Provision/(credit) for possible credit losses | (1) | 3 | |
Charge-offs | |||
Recoveries | |||
Net recoveries | |||
Ending Balance | 21 | 14 | |
Reserve for impaired loans | |||
Reserve for non-impaired loans | 21 | 14 | |
Reserve for off-balance sheet credit commitments | 6 | $ 6 | |
Consumer Portfolio Segment [Member] | |||
Loans individually evaluated for impairment, allowance | |||
Loans individually evaluated for impairment, balance | |||
Loans collectively evaluated for impairment, allowance | 21 | 22 | |
Loans collectively evaluated for impairment, balance | 4,473 | 5,170 | |
Loans, allowance | 21 | 22 | |
Loans | $ 4,473 | $ 5,170 |
Note 10 - Borrowed Funds (Detai
Note 10 - Borrowed Funds (Details Textual) - USD ($) | Nov. 14, 2017 | Nov. 04, 2017 | Oct. 12, 2017 | Jul. 14, 2017 | Mar. 31, 2018 | Dec. 31, 2017 |
Securities Sold under Agreements to Repurchase, Total | $ 100,000,000 | $ 100,000,000 | ||||
Weighted Average Rate Of Securities Sold Under Agreements | 2.86% | |||||
Advances from Federal Home Loan Banks, Total | $ 325,000,000 | 430,000,000 | ||||
SinoPac Bancorp [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 100,000,000 | $ 100,000,000 | $ 284,984,000 | |||
Business Combination, Deferred Payments | $ 35,400,000 | $ 35,200,000 | ||||
Business Combination, Deferred Payments, Disbursed Rate, In Next Twelve Months | 50.00% | |||||
Business Combination, Deferred Payments, Disbursed Rate, In Year Two | 30.00% | |||||
Business Combination, Deferred Payments, Disbursed Rate, In Year Three | 20.00% | |||||
Debt Instrument, Face Amount | $ 35,700,000 | $ 35,200,000 | ||||
Mature in April 2018 [Member] | ||||||
Advances from Federal Home Loan Banks, Total | 15,000,000 | |||||
Mature in July 2018 [Member] | ||||||
Advances from Federal Home Loan Banks, Total | 5,000,000 | |||||
Mature in October 2018 [Member] | ||||||
Advances from Federal Home Loan Banks, Total | 5,000,000 | |||||
Mature in December 2019 [Member] | ||||||
Advances from Federal Home Loan Banks, Total | $ 50,000,000 | |||||
Business Combination, Deferred Payments [Member] | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.80% | |||||
Business Combination, Deferred Payments [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | |||||
Term Loan [Member] | US Bank [Member] | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.438% | 3.125% | ||||
Debt Instrument, Face Amount | $ 75,000,000 | |||||
Debt Instrument, Periodic Payment, Principal | $ 4,700,000 | |||||
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member] | US Bank [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 1.75% | |||||
Over-night Borrowings [Member] | ||||||
Advances from Federal Home Loan Banks, Total | $ 250,000,000 | $ 325,000,000 | ||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.87% | 1.41% | ||||
Non Overnight Borrowings [Member] | ||||||
Advances from Federal Home Loan Banks, Total | $ 75,000,000 | $ 105,000,000 | ||||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 1.53% | 1.41% | ||||
Securities Sold under Agreements to Repurchase [Member] | ||||||
Investment Securities Pledged As Collateral | $ 107,600,000 | $ 108,400,000 | ||||
Non Callable Fixed Rate Securities [Member] | ||||||
Number Of Securities Sold Under Agreements To Repurchase | 2 | |||||
Fixed Rate Non-callable Securities Sold Under Agreements to Repurchase [Member] | ||||||
Securities Sold under Agreements to Repurchase, Total | $ 100,000,000 | |||||
Weighted Average Rate Of Securities Sold Under Agreements | 2.86% | |||||
Fixed Rate Non-callable Securities Sold Under Agreements to Repurchase [Member] | Mature in June 2018 [Member] | ||||||
Securities Sold under Agreements to Repurchase, Total | $ 50,000,000 | |||||
Fixed Rate Non-callable Securities Sold Under Agreements to Repurchase [Member] | Mature in July 2018 [Member] | ||||||
Securities Sold under Agreements to Repurchase, Total | $ 50,000,000 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 22.80% | 29.50% | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | |||
Income Taxes Receivable | $ 7.2 | |||
Scenario, Forecast [Member] | ||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 12 - Fair Value Measurem61
Note 12 - Fair Value Measurements (Details Textual) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Warrants | $ 195,000 | $ 91,000 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 9,291,000 | 9,442,000 |
Accounts Receivable Collateral [Member] | ||
Collateral Discount Rates | 55.00% | |
Inventory Collateral [Member] | ||
Collateral Discount Rates | 65.00% | |
Net of Estimated Disposal Costs [Member] | ||
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 9,300,000 | $ 9,400,000 |
Minimum [Member] | ||
Estimated Sales Cost Applied To Collateral | 3.00% | |
Minimum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1 | |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 2.3 | |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 8.99 | |
Maximum [Member] | ||
Estimated Sales Cost Applied To Collateral | 6.00% | |
Maximum [Member] | Measurement Input, Expected Term [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 6 | |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 2.94 | |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 12.73 |
Note 12 - Fair Value Measurem62
Note 12 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 |
Debt Securities, Available-for-sale, Total | $ 1,241,105,000 | $ 1,333,626,000 | $ 1,300,000,000 |
Equity Securities, FV-NI | 24,154,000 | 28,100,000 | |
Assets, fair value disclosure | 1,278,667,000 | 1,340,767,000 | |
Liabilities, fair value disclosure | 927,000 | 3,161,000 | |
Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | 124,595,000 | 277,622,000 | |
Equity Securities, FV-NI | 24,154,000 | ||
Assets, fair value disclosure | 148,749,000 | 277,622,000 | |
Liabilities, fair value disclosure | |||
Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | 1,116,510,000 | 1,056,004,000 | |
Equity Securities, FV-NI | |||
Assets, fair value disclosure | 1,129,723,000 | 1,063,054,000 | |
Liabilities, fair value disclosure | 927,000 | 3,161,000 | |
Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Equity Securities, FV-NI | |||
Assets, fair value disclosure | 195,000 | 91,000 | |
Liabilities, fair value disclosure | |||
US Treasury Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 124,595,000 | 249,520,000 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | 124,595,000 | 249,520,000 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
US Government Corporations and Agencies Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 8,695,000 | 8,988,000 | |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | 8,695,000 | 8,988,000 | |
US Government Corporations and Agencies Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
US Government-sponsored Enterprises Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 385,920,000 | 390,336,000 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | 385,920,000 | 390,336,000 | |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
US States and Political Subdivisions Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 904,000 | 1,914,000 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | 904,000 | 1,914,000 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Commercial Mortgage Backed Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 638,359,000 | 571,969,000 | |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | 638,359,000 | 571,969,000 | |
Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Collateralized Mortgage Obligations [Member] | |||
Debt Securities, Available-for-sale, Total | 1,371,000 | 1,516,000 | |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | 1,371,000 | 1,516,000 | |
Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Corporate Debt Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 81,261,000 | 81,281,000 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | 81,261,000 | 81,281,000 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Mutual Funds [Member] | |||
Debt Securities, Available-for-sale, Total | 6,230,000 | ||
Equity Securities, FV-NI | 6,129,000 | ||
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | 6,230,000 | ||
Equity Securities, FV-NI | 6,129,000 | ||
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Equity Securities, FV-NI | |||
Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Equity Securities, FV-NI | |||
Preferred Stock of Government Sponsored Entities [Member] | |||
Debt Securities, Available-for-sale, Total | 10,102,000 | ||
Equity Securities, FV-NI | 6,691,000 | ||
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | 10,102,000 | ||
Equity Securities, FV-NI | 6,691,000 | ||
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Equity Securities, FV-NI | |||
Preferred Stock of Government Sponsored Entities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Equity Securities, FV-NI | |||
Other Equity Securities [Member] | |||
Debt Securities, Available-for-sale, Total | 11,770,000 | ||
Equity Securities, FV-NI | 11,334,000 | ||
Other Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Debt Securities, Available-for-sale, Total | 11,770,000 | ||
Equity Securities, FV-NI | 11,334,000 | ||
Other Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Debt Securities, Available-for-sale, Total | |||
Equity Securities, FV-NI | |||
Other Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Equity Securities, FV-NI | |||
Warrant [Member] | |||
Assets, fair value disclosure | 195,000 | 91,000 | |
Warrant [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Assets, fair value disclosure | |||
Warrant [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets, fair value disclosure | |||
Warrant [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Assets, fair value disclosure | 195,000 | 91,000 | |
Interest Rate Swap [Member] | |||
Assets, fair value disclosure | 11,674,000 | 5,218,000 | |
Liabilities, fair value disclosure | 2,699,000 | ||
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Assets, fair value disclosure | |||
Liabilities, fair value disclosure | |||
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets, fair value disclosure | 11,674,000 | 5,218,000 | |
Liabilities, fair value disclosure | 2,699,000 | ||
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Assets, fair value disclosure | |||
Liabilities, fair value disclosure | |||
Foreign Exchange Contract [Member] | |||
Assets, fair value disclosure | 1,539,000 | 1,832,000 | |
Liabilities, fair value disclosure | 924,000 | 453,000 | |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Assets, fair value disclosure | |||
Liabilities, fair value disclosure | |||
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Assets, fair value disclosure | 1,539,000 | 1,832,000 | |
Liabilities, fair value disclosure | 924,000 | 453,000 | |
Foreign Exchange Contract [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Assets, fair value disclosure | |||
Liabilities, fair value disclosure | |||
Option Contracts [Member] | |||
Liabilities, fair value disclosure | 3,000 | 9,000 | |
Option Contracts [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Liabilities, fair value disclosure | |||
Option Contracts [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Liabilities, fair value disclosure | 3,000 | 9,000 | |
Option Contracts [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Liabilities, fair value disclosure |
Note 12 - Fair Value Measurem63
Note 12 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |||||
Assets, fair value disclosure | $ 1,278,667 | $ 1,340,767 | ||||||
Total Losses | 206 | $ 494 | 874 | $ 1,307 | ||||
Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 46,221 | 73,493 | ||||||
Fair Value, Inputs, Level 1 [Member] | ||||||||
Assets, fair value disclosure | 148,749 | 277,622 | ||||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Fair Value, Inputs, Level 2 [Member] | ||||||||
Assets, fair value disclosure | 1,129,723 | 1,063,054 | ||||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 5,478 | 5,677 | ||||||
Fair Value, Inputs, Level 3 [Member] | ||||||||
Assets, fair value disclosure | 195 | 91 | ||||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 40,743 | 67,816 | ||||||
Impaired Loans [Member] | ||||||||
Total Losses | 270 | 25 | 322 | |||||
Impaired Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 33,970 | 60,911 | ||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 33,970 | 60,911 | ||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||||||||
Total Losses | 20 | 25 | 322 | |||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 220 | 18,097 | ||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 220 | 18,097 | ||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||
Total Losses | 250 | |||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 26,131 | 31,459 | ||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 26,131 | 31,459 | ||||||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||||||
Total Losses | ||||||||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 7,619 | 11,355 | ||||||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Impaired Loans [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 7,619 | 11,355 | ||||||
Other Real Estate Owned [Member] | ||||||||
Total Losses | 33 | [1] | 37 | [1] | 457 | [2] | 9 | [2] |
Other Real Estate Owned [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 9,821 | [1] | 9,999 | [2] | ||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | [1] | [2] | ||||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 5,478 | [1] | 5,677 | [2] | ||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 4,343 | [1] | 4,322 | [2] | ||||
Equity Investments [Member] | ||||||||
Total Losses | 173 | $ 187 | 392 | $ 976 | ||||
Equity Investments [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | 2,430 | 2,583 | ||||||
Equity Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Equity Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | ||||||||
Equity Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||
Assets, fair value disclosure | $ 2,430 | $ 2,583 | ||||||
[1] | Other real estate owned balance of $9.3 million in the condensed consolidated balance sheet is net of estimated disposal costs. | |||||||
[2] | Other real estate owned balance of $9.4 million in the Consolidated Balance Sheets is net of estimated disposal costs. |
Note 13 - Fair Value of Finan64
Note 13 - Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Cash and due from banks | $ 199,713,000 | $ 247,056,000 | ||
Securities available-for-sale | 1,241,105,000 | 1,333,626,000 | $ 1,300,000,000 | |
Equity securities | 24,154,000 | 28,100,000 | ||
Loans held for sale | 8,000,000 | |||
Loans, net (1) | [1] | 12,908,391,000 | 12,663,049,000 | |
Investment in Federal Home Loan Bank stock | 17,250,000 | 23,085,000 | ||
Warrants | 11,674,000 | 5,218,000 | ||
Foreign exchange contracts with gain | 78,021,000 | 108,530,000 | ||
Foreign exchange contracts with gain, fair value | 1,539,000 | 1,832,000 | ||
Interest rate swaps | 681,055,000 | 514,159,000 | ||
Interest rate swaps, fair value | 11,674,000 | 5,218,000 | ||
Deposits | 13,032,828,000 | 12,700,674,000 | ||
Securities sold under agreements to repurchase | 99,783,000 | 100,163,000 | ||
Advances from Federal Home Loan Bank | 324,548,000 | 429,482,000 | ||
Other borrowings | 51,367,000 | 51,075,000 | ||
Long-term debt | 141,266,000 | 141,865,000 | ||
Option contracts | 1,028,000 | 1,014,000 | ||
Option contracts, fair value | 3,000 | 9,000 | ||
Foreign exchange contracts with loss | 57,648,000 | 32,127,000 | ||
Foreign exchange contracts with loss, fair value | 924,000 | 453,000 | ||
Interest rate swaps | 145,399,000 | |||
Interest rate swaps, fair value | 2,699,000 | |||
Commitments to extend credit | 2,487,710,000 | 2,366,368,000 | ||
Commitments to extend credit, fair value | (7,711,000) | (7,224,000) | ||
Standby letters of credit | 142,674,000 | 140,814,000 | ||
Standby letters of credit, fair value | (1,418,000) | (1,805,000) | ||
Other letters of credit | 25,885,000 | 27,353,000 | ||
Other letters of credit, fair value | (13,000) | (52,000) | ||
Bill of lading guarantees | 24,000 | 24,000 | ||
Bill of lading guarantees, fair value | 0 | 0 | ||
Warrants [Member] | ||||
Warrants | 195,000 | |||
Reported Value Measurement [Member] | ||||
Cash and due from banks | 199,713,000 | 247,056,000 | ||
Short-term investments and interest bearing deposits | 524,012,000 | 292,745,000 | ||
Securities available-for-sale | 1,241,105,000 | 1,333,626,000 | ||
Equity securities | 24,154,000 | |||
Loans held for sale | 8,000,000 | |||
Loans, net (1) | [2] | 12,889,166,000 | 12,743,766,000 | |
Investment in Federal Home Loan Bank stock | 17,250,000 | 23,085,000 | ||
Deposits | 13,012,251,000 | 12,689,893,000 | ||
Securities sold under agreements to repurchase | 100,000,000 | 100,000,000 | ||
Advances from Federal Home Loan Bank | 325,000,000 | 430,000,000 | ||
Other borrowings | 53,178,000 | 52,885,000 | ||
Long-term debt | 194,136,000 | 194,136,000 | ||
Reported Value Measurement [Member] | Warrants [Member] | ||||
Warrants | 195,000 | 91,000 | ||
Estimate of Fair Value Measurement [Member] | ||||
Cash and due from banks | 199,713,000 | 247,056,000 | ||
Short-term investments and interest bearing deposits | 524,012,000 | 292,745,000 | ||
Securities available-for-sale | 1,241,105,000 | 1,333,626,000 | ||
Equity securities | 24,154,000 | |||
Loans held for sale | 8,000,000 | |||
Loans, net (1) | [2] | 12,908,391,000 | 12,663,049,000 | |
Investment in Federal Home Loan Bank stock | 17,250,000 | 23,085,000 | ||
Deposits | 13,032,828,000 | 12,700,674,000 | ||
Securities sold under agreements to repurchase | 99,783,000 | 100,163,000 | ||
Advances from Federal Home Loan Bank | 324,548,000 | 429,482,000 | ||
Other borrowings | 51,367,000 | 51,075,000 | ||
Long-term debt | 141,266,000 | 141,865,000 | ||
Estimate of Fair Value Measurement [Member] | Warrants [Member] | ||||
Warrants | $ 195,000 | $ 91,000 | ||
[1] | In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of March 31, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. | |||
[2] | In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of March 31, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. |
Note 13 - Fair Value of Finan65
Note 13 - Fair Value of Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | |
Cash and due from banks | $ 199,713,000 | $ 247,056,000 | ||
Short-term investments and interest bearing deposits | 524,012,000 | 292,745,000 | ||
Securities available-for-sale (amortized cost of $1,271,291 at March 31, 2018 and $1,336,345 at December 31, 2017 | 1,241,105,000 | 1,333,626,000 | $ 1,300,000,000 | |
Equity securities | 24,154,000 | 28,100,000 | ||
Loans, net (1) | [1] | 12,908,391,000 | 12,663,049,000 | |
Investment in Federal Home Loan Bank stock | 17,250,000 | 23,085,000 | ||
Warrants | 11,674,000 | 5,218,000 | ||
Deposits | 13,032,828,000 | 12,700,674,000 | ||
Securities sold under agreement to repurchase | 99,783,000 | 100,163,000 | ||
Advances from Federal Home Loan Bank | 324,548,000 | 429,482,000 | ||
Other borrowings | 51,367,000 | 51,075,000 | ||
Long-term debt | 141,266,000 | 141,865,000 | ||
Debt Securities, Available-for-sale, Total | 1,241,105,000 | 1,333,626,000 | $ 1,300,000,000 | |
Loans held-for-sale | 8,000,000 | |||
Warrants [Member] | ||||
Warrants | 195,000 | |||
Warrants | 91,000 | |||
Fair Value, Inputs, Level 1 [Member] | ||||
Cash and due from banks | 199,713,000 | 247,056,000 | ||
Short-term investments and interest bearing deposits | 524,012,000 | 292,745,000 | ||
Securities available-for-sale (amortized cost of $1,271,291 at March 31, 2018 and $1,336,345 at December 31, 2017 | 124,595,000 | 277,622,000 | ||
Equity securities | 24,154,000 | |||
Loans, net (1) | [1] | |||
Investment in Federal Home Loan Bank stock | ||||
Deposits | ||||
Securities sold under agreement to repurchase | ||||
Advances from Federal Home Loan Bank | ||||
Other borrowings | ||||
Long-term debt | ||||
Debt Securities, Available-for-sale, Total | 124,595,000 | 277,622,000 | ||
Loans held-for-sale | ||||
Fair Value, Inputs, Level 1 [Member] | Warrants [Member] | ||||
Warrants | ||||
Warrants | ||||
Fair Value, Inputs, Level 2 [Member] | ||||
Cash and due from banks | ||||
Short-term investments and interest bearing deposits | ||||
Securities available-for-sale (amortized cost of $1,271,291 at March 31, 2018 and $1,336,345 at December 31, 2017 | 1,116,510,000 | 1,056,004,000 | ||
Equity securities | ||||
Loans, net (1) | [1] | |||
Investment in Federal Home Loan Bank stock | 17,250,000 | 23,085,000 | ||
Deposits | ||||
Securities sold under agreement to repurchase | 99,783,000 | 100,163,000 | ||
Advances from Federal Home Loan Bank | 324,548,000 | 429,482,000 | ||
Other borrowings | ||||
Long-term debt | 141,266,000 | 141,865,000 | ||
Debt Securities, Available-for-sale, Total | 1,116,510,000 | 1,056,004,000 | ||
Loans held-for-sale | ||||
Fair Value, Inputs, Level 2 [Member] | Warrants [Member] | ||||
Warrants | ||||
Warrants | ||||
Fair Value, Inputs, Level 3 [Member] | ||||
Cash and due from banks | ||||
Short-term investments and interest bearing deposits | ||||
Securities available-for-sale (amortized cost of $1,271,291 at March 31, 2018 and $1,336,345 at December 31, 2017 | ||||
Equity securities | ||||
Loans, net (1) | [1] | 12,908,391,000 | 12,663,049,000 | |
Investment in Federal Home Loan Bank stock | ||||
Deposits | 13,032,828,000 | 12,700,674,000 | ||
Securities sold under agreement to repurchase | ||||
Advances from Federal Home Loan Bank | ||||
Other borrowings | 51,367,000 | 51,075,000 | ||
Long-term debt | ||||
Debt Securities, Available-for-sale, Total | ||||
Loans held-for-sale | 8,000,000 | |||
Fair Value, Inputs, Level 3 [Member] | Warrants [Member] | ||||
Warrants | $ 195,000 | |||
Warrants | $ 91,000 | |||
[1] | In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of March 31, 2018 was measured using an exit price notion. The fair value of loans as of December 31, 2017 was measured using an entry price notion. |
Note 15 - Financial Derivativ66
Note 15 - Financial Derivatives (Details Textual) - USD ($) | May 31, 2014 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 |
Junior Subordinated Notes, Total | $ 119,100,000 | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ 2,193,000 | $ 299,000 | ||
Cash [Member] | ||||
Collateral Already Posted, Aggregate Fair Value | 1,300,000 | $ 4,500,000 | ||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Outstanding, Notional Amount | $ 119,100,000 | 119,100,000 | ||
Derivative Original Maturity | 10 years | |||
Derivative, Average Fixed Interest Rate | 2.61% | |||
Derivative, Average Variable Interest Rate | 2.17% | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 428,000 | (1,900,000) | ||
Net Accrued on Interest Rate Swaps | 274,000 | 479,000 | ||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ||||
Derivative Outstanding, Notional Amount | $ 561,900,000 | 424,200,000 | ||
Derivative, Average Fixed Interest Rate | 4.60% | |||
Derivative, Average Variable Interest Rate | 4.50% | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ 11,100,000 | 1,900,000 | ||
Net Accrued on Interest Rate Swaps | 229,000 | $ 713,000 | ||
Derivative, Notional Amount at Origination | $ 561,900,000 | |||
Derivative, Average Basis Spread on Variable Rate | 2.79% | |||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Minimum [Member] | ||||
Derivative Original Maturity | 2 years | |||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Maximum [Member] | ||||
Derivative Original Maturity | 10 years | |||
Negative Fair Value [Member] | ||||
Notional Amount Of Option Contract | $ 1,000,000 | 1,000,000 | ||
Open Option Contracts Fair Value | 3,000 | 9,000 | ||
Sum Of Spot And Forward Contract Notional Amount | 57,600,000 | 32,100,000 | ||
Negative Fair Value | 924,000 | 453,000 | ||
Positive Fair Value [Member] | ||||
Sum Of Spot And Forward Contract Notional Amount | 78,000,000 | 108,500,000 | ||
Positive Fair Value | $ 1,500,000 | $ 1,800,000 |
Note 16 - Balance Sheet Offse67
Note 16 - Balance Sheet Offsetting - Financial Instruments That Are Eligible for Offset in the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Derivative assets, gross | $ 11,674 | $ 5,218 |
Derivative assets, net | 11,674 | 5,218 |
Derivative assets not offset | 11,674 | 5,218 |
Securities sold under agreements to repurchase | 100,000 | 100,000 |
Securities sold under agreements to repurchase, net | 100,000 | 100,000 |
Securities sold under agreements to repurchase, collateral posted | $ (100,000) | (100,000) |
Derivative liabilities, gross | 2,699 | |
Derivative liabilities, net | 2,699 | |
Derivatives, collateral posted | $ (2,699) |
Note 17 - Revenue from Contra68
Note 17 - Revenue from Contracts with Customers - Summary of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | ||
Fees and service charges on deposit accounts | [1] | $ 6,867 | $ 6,660 |
Noninterest income, not in-scope(3) | [2] | (1,557) | 58 |
Total non-interest income | 5,310 | 6,718 | |
Fees and Services Charges on Deposit Account [Member] | |||
Fees and service charges on deposit accounts | [1] | 2,318 | 2,512 |
Wealth Management Fees [Member] | |||
Fees and service charges on deposit accounts | [1] | 1,301 | 979 |
Other Service Fees [Member] | |||
Fees and service charges on deposit accounts | [1],[3] | $ 3,248 | $ 3,169 |
[1] | There were no adjustments to the Company's financial statements recorded as a result of the adoption of ASC 606. For comparability, the Company has adjusted prior period amounts to conform to the periods presentation. | ||
[2] | These amounts primarily represent revenue from contracts with customers that are out of the scope of ASC 606. | ||
[3] | Other service fees comprise of immaterial individual revenue streams. |
Note 18 - Stockholders' Equit69
Note 18 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Stockholders' Equity Attributable to Parent, Ending Balance | $ 2,009,792 | $ 1,973,304 | |
Stockholders' Equity, Period Increase (Decrease), Total | 36,500 | $ 63,800 | |
Dividends, Common Stock, Cash | 19,500 | ||
Other Comprehensive Income (Loss), Net of Tax, Total | $ (9,321) | $ 73 | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 578,238 | 943,327 | |
U.S. Treasury [Member] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,846,374 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 20.96 | $ 20.41 | |
Class of Warrant or Right, Increase in Warrants Exercisable, Percentage | 1.03% |
Note 18 - Stockholders' Equit70
Note 18 - Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) | Jan. 01, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | |
Beginning balance, loss, net of tax | $ 1,973,304,000 | $ 1,973,304,000 | ||
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, tax | 515,000 | |||
Ending balance, loss, net of tax | 2,009,792,000 | |||
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Beginning balance, loss, net of tax | (1,060,000) | (1,060,000) | $ (1,545,000) | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, tax | [1] | 200,000 | ||
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, net of tax | [1] | (200,000) | ||
Net unrealized (losses)/gains arising during the period, pre-tax | (16,346,000) | (856,000) | ||
Net unrealized (losses)/gains arising during the period, tax | (4,832,000) | (360,000) | ||
Net unrealized (losses)/gains arising during the period, net of tax | (11,514,000) | (496,000) | ||
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 466,000 | |||
Reclassification adjustment for net losses/(gains) included in net income, tax | 196,000 | |||
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 270,000 | |||
Total other comprehensive (loss)/income, pre-tax | (16,346,000) | (390,000) | ||
Total other comprehensive (loss)/income, tax | (4,832,000) | (164,000) | ||
Total other comprehensive (loss)/income, net of tax | (11,514,000) | (226,000) | ||
Ending balance, loss, net of tax | (21,333,000) | (1,771,000) | ||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Beginning balance, loss, net of tax | (1,451,000) | (1,451,000) | (2,170,000) | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, tax | [1] | 315,000 | ||
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, net of tax | [1] | (315,000) | ||
Net unrealized (losses)/gains arising during the period, pre-tax | 3,113,000 | 516,000 | ||
Net unrealized (losses)/gains arising during the period, tax | 920,000 | 217,000 | ||
Net unrealized (losses)/gains arising during the period, net of tax | 2,193,000 | 299,000 | ||
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | ||||
Reclassification adjustment for net losses/(gains) included in net income, tax | ||||
Reclassification adjustment for net losses/(gains) included in net income, net of tax | ||||
Total other comprehensive (loss)/income, pre-tax | 3,113,000 | 516,000 | ||
Total other comprehensive (loss)/income, tax | 920,000 | 217,000 | ||
Total other comprehensive (loss)/income, net of tax | 2,193,000 | 299,000 | ||
Ending balance, loss, net of tax | 427,000 | (1,871,000) | ||
AOCI Attributable to Parent [Member] | ||||
Beginning balance, loss, net of tax | $ (2,511,000) | (2,511,000) | (3,715,000) | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, tax | [1] | 515,000 | ||
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, net of tax | [1] | (515,000) | ||
Reclassification adjustment for equity securities, pre-tax | [2] | (12,151,000) | ||
Reclassification adjustment for equity securities, tax | [2] | (3,592,000) | ||
Reclassification adjustment for equity securities, net of tax | [2] | (8,559,000) | ||
Net unrealized (losses)/gains arising during the period, pre-tax | (13,233,000) | (340,000) | ||
Net unrealized (losses)/gains arising during the period, tax | (3,912,000) | (143,000) | ||
Net unrealized (losses)/gains arising during the period, net of tax | (9,321,000) | (197,000) | ||
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 466,000 | |||
Reclassification adjustment for net losses/(gains) included in net income, tax | 196,000 | |||
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 270,000 | |||
Total other comprehensive (loss)/income, pre-tax | (13,233,000) | 126,000 | ||
Total other comprehensive (loss)/income, tax | (3,912,000) | 53,000 | ||
Total other comprehensive (loss)/income, net of tax | (9,321,000) | 73,000 | ||
Ending balance, loss, net of tax | $ (20,906,000) | $ (3,642,000) | ||
[1] | These amounts were recorded as of January 1, 2018 as a result of the adoption of ASU 2018-2. | |||
[2] | This amount was recorded as of January 1, 2018 as a result of the adoption of ASU 2016-1. |
Note 19 - Stock Repurchase Pr71
Note 19 - Stock Repurchase Program (Details Textual) - February 2016 Repurchase Program [Member] - USD ($) $ / shares in Units, $ in Millions | Feb. 01, 2016 | Mar. 31, 2018 | Dec. 31, 2017 |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 45,000,000 | ||
Treasury Stock, Shares, Acquired | 1,380,578 | ||
Treasury Stock, Value, Acquired, Cost Method | $ 37.5 | ||
Treasury Stock Acquired, Average Cost Per Share | $ 27.13 | ||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 7,500,000 | 7,500,000 |