Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 31, 2019 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000861842 | |
Entity Registrant Name | Cathay General Bancorp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2019 | |
Document Transition Report | false | |
Entity File Number | 001-31830 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 95-4274680 | |
Entity Address, Address Line One | 777 North Broadway | |
Entity Address, City or Town | Los Angeles | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90012 | |
City Area Code | 213 | |
Local Phone Number | 625-4700 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | CATY | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 79,706,517 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 257,189 | $ 225,333 |
Short-term investments and interest-bearing deposits | 567,957 | 374,957 |
Securities available-for-sale (amortized cost of $1,422,431 at September 30, 2019 and $1,267,731 at December 31, 2018) | 1,427,438 | 1,242,509 |
Loans held for sale | 36,778 | 0 |
Loans | 14,728,554 | 13,995,788 |
Less: Allowance for loan losses | (125,908) | (122,391) |
Unamortized deferred loan fees, net | (1,081) | (1,565) |
Loans, net | 14,601,565 | 13,871,832 |
Equity securities | 32,862 | 25,098 |
Federal Home Loan Bank stock | 17,250 | 17,250 |
Other real estate owned, net | 11,329 | 12,674 |
Affordable housing investments and alternative energy partnerships, net | 321,929 | 282,734 |
Premises and equipment, net | 103,820 | 103,189 |
Customers’ liability on acceptances | 12,503 | 22,709 |
Accrued interest receivable | 52,337 | 51,650 |
Goodwill | 372,189 | 372,189 |
Other intangible assets, net | 6,821 | 7,194 |
Right-of-use assets - operating leases | 34,518 | 0 |
Other assets | 148,481 | 175,419 |
Total assets | 18,004,966 | 16,784,737 |
Deposits: | ||
Non-interest-bearing demand deposits | 2,939,924 | 2,857,443 |
Interest-bearing deposits: | ||
NOW deposits | 1,282,267 | 1,365,763 |
Money market deposits | 2,095,328 | 2,027,404 |
Savings deposits | 721,547 | 738,656 |
Time deposits | 7,619,203 | 6,713,074 |
Total deposits | 14,658,269 | 13,702,340 |
Advances from the Federal Home Loan Bank | 600,000 | 530,000 |
Other borrowings of affordable housing investments | 30,767 | 17,298 |
Long-term debt | 160,386 | 189,448 |
Deferred payments from acquisition | 7,602 | 18,458 |
Acceptances outstanding | 12,503 | 22,709 |
Lease liabilities - operating leases | 36,142 | 0 |
Other liabilities | 253,403 | 182,618 |
Total liabilities | 15,759,072 | 14,662,871 |
Commitments and contingencies | 0 | 0 |
Stockholders’ Equity | ||
Common stock, $0.01 par value, 100,000,000 shares authorized; 90,041,474 issued and 79,706,511 outstanding at September 30, 2019, and 89,826,317 issued and 80,501,948 outstanding at December 31, 2018 | 900 | 898 |
Additional paid-in-capital | 947,880 | 942,062 |
Accumulated other comprehensive loss, net | (833) | (18,006) |
Retained earnings | 1,616,485 | 1,479,149 |
Treasury stock, at cost (10,334,963 shares at September 30, 2019, and 9,324,369 shares at December 31, 2018) | (318,538) | (282,237) |
Total equity | 2,245,894 | 2,121,866 |
Total liabilities and equity | $ 18,004,966 | $ 16,784,737 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities available-for-sale, amortized cost | $ 1,422,431 | $ 1,267,731 |
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) | 90,041,474 | 89,826,317 |
Common stock, shares outstanding (in shares) | 79,706,511 | 80,501,948 |
Treasury stock shares (in shares) | 10,334,963 | 9,324,369 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Interest and Dividend Income | ||||
Loans receivable, including loan fees | $ 187,827 | $ 168,179 | $ 548,395 | $ 478,128 |
Investment securities | 8,687 | 7,546 | 24,454 | 21,212 |
Federal Home Loan Bank stock | 301 | 303 | 903 | 1,079 |
Deposits with banks | 1,016 | 838 | 4,289 | 3,667 |
Total interest and dividend income | 197,831 | 176,866 | 578,041 | 504,086 |
Interest Expense | ||||
Time deposits | 40,378 | 22,135 | 113,992 | 56,593 |
Other deposits | 6,626 | 5,474 | 17,591 | 14,892 |
Securities sold under agreements to repurchase | 0 | 124 | 0 | 1,446 |
Advances from Federal Home Loan Bank | 1,661 | 1,430 | 5,976 | 3,286 |
Long-term debt | 1,948 | 2,220 | 6,087 | 6,465 |
Deferred payments from acquisition | 93 | 399 | 502 | 946 |
Short-term borrowings | 125 | 0 | 198 | 0 |
Total interest expense | 50,831 | 31,782 | 144,346 | 83,628 |
Net interest income before reversal for credit losses | 147,000 | 145,084 | 433,695 | 420,458 |
Reversal for credit losses | (2,000) | (1,500) | (2,000) | (4,500) |
Net interest income after reversal for credit losses | 149,000 | 146,584 | 435,695 | 424,958 |
Non-Interest Income | ||||
Net gains/(losses) from equity securities | 364 | 391 | 7,764 | (4,580) |
Securities losses, net | (121) | (14) | (108) | (14) |
Letters of credit commissions | 1,602 | 1,459 | 4,733 | 4,110 |
Depository service fees | 7,586 | 6,931 | 22,791 | 20,813 |
Gain from acquisition | 0 | 0 | 0 | 340 |
Other operating income | 7,424 | 4,780 | 20,097 | 17,151 |
Total non-interest income | 10,388 | 7,835 | 36,103 | 20,912 |
Non-Interest Expense | ||||
Salaries and employee benefits | 31,915 | 30,514 | 97,200 | 91,491 |
Occupancy expense | 5,579 | 5,186 | 16,617 | 15,808 |
Computer and equipment expense | 2,741 | 2,772 | 8,453 | 8,477 |
Professional services expense | 5,952 | 5,286 | 17,209 | 17,055 |
Data processing service expense | 3,246 | 3,080 | 9,737 | 9,450 |
FDIC and regulatory assessments | 2,582 | 2,555 | 7,190 | 6,732 |
Marketing expense | 2,436 | 1,263 | 5,556 | 5,521 |
Other real estate owned expense/(income) | 190 | (21) | 839 | (236) |
Amortization of investments in low income housing and alternative energy partnerships | 6,997 | 11,115 | 26,909 | 21,989 |
Amortization of core deposit intangibles | 172 | 190 | 515 | 704 |
Acquisition and integration costs | 0 | 179 | 0 | 2,083 |
Other operating expense | 3,770 | 3,845 | 15,871 | 10,949 |
Total non-interest expense | 65,580 | 65,964 | 206,096 | 190,023 |
Income before income tax expense | 93,808 | 88,455 | 265,702 | 255,847 |
Income tax expense | 20,973 | 18,698 | 53,944 | 48,610 |
Net income | 72,835 | 69,757 | 211,758 | 207,237 |
Other Comprehensive Income, net of tax | ||||
Unrealized holding gains/(losses) on securities available-for-sale | 1,233 | (2,538) | 21,216 | (16,803) |
Unrealized holding (losses)/gains on cash flow hedge derivatives | (793) | 1,666 | (4,119) | 4,595 |
Less: reclassification adjustments for losses included in net income | (85) | (10) | (76) | (10) |
Total other comprehensive gain/(loss), net of tax | 525 | (862) | 17,173 | (12,198) |
Total other comprehensive income | $ 73,360 | $ 68,895 | $ 228,931 | $ 195,039 |
Net Income Per Common Share: | ||||
Basic (in dollars per share) | $ 0.91 | $ 0.86 | $ 2.64 | $ 2.55 |
Diluted (in dollars per share) | 0.91 | 0.85 | 2.64 | 2.53 |
Cash dividends (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.93 | $ 0.72 |
Average Common Shares Outstanding: | ||||
Basic (in shares) | 79,736,814 | 81,311,899 | 80,096,855 | 81,224,555 |
Diluted (in shares) | 79,993,830 | 81,855,271 | 80,330,616 | 81,770,874 |
Deposit Account [Member] | ||||
Non-Interest Income | ||||
Depository service fees | $ 1,119 | $ 1,219 | $ 3,617 | $ 3,905 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 80,893,379 | |||||
Balance at Dec. 31, 2017 | $ 891 | $ 932,874 | $ (2,511) | $ 1,281,639 | $ (239,589) | $ 1,973,304 |
Dividend Reinvestment Plan (in shares) | 46,070 | |||||
Dividend Reinvestment Plan | $ 0 | 1,982 | 0 | 0 | 0 | 1,982 |
Stock-based compensation | 0 | 5,325 | 0 | 0 | 0 | 5,325 |
Cash dividends | 0 | 0 | 0 | (58,498) | 0 | (58,498) |
Change in other comprehensive loss | 0 | 0 | (12,198) | 0 | 0 | (12,198) |
Net income | $ 0 | 0 | 0 | 207,237 | 0 | 207,237 |
Warrants exercised (in shares) | 315,187 | |||||
Warrants exercised | $ 3 | (3) | 0 | 0 | 0 | 0 |
Restricted stock units vested (in shares) | 89,471 | |||||
Restricted stock units vested | $ 2 | 0 | 0 | 0 | 0 | 2 |
Shares withheld related to net share settlement of RSUs | $ 0 | (1,865) | 0 | 0 | 0 | (1,865) |
Stock issued to directors (in shares) | 16,060 | |||||
Stock issued to directors | $ 0 | 650 | 0 | 0 | 0 | 650 |
Cumulative effect of changes in accounting principles | 0 | 0 | (8,559) | 8,559 | 0 | 0 |
Reclassification of tax effects in accumulated other comprehensive income resulting from the new corporate income tax rate | $ 0 | 0 | (515) | 515 | 0 | $ 0 |
Stock options exercised (in shares) | 35,880 | 35,880 | ||||
Stock options exercised | $ 0 | 838 | 0 | 0 | 0 | $ 838 |
Balance (in shares) at Sep. 30, 2018 | 81,396,047 | |||||
Balance at Sep. 30, 2018 | $ 896 | 939,801 | (23,783) | 1,439,452 | (239,589) | 2,116,777 |
Balance (in shares) at Jun. 30, 2018 | 81,255,683 | |||||
Balance at Jun. 30, 2018 | $ 895 | 937,224 | (22,921) | 1,389,227 | (239,589) | 2,064,836 |
Dividend Reinvestment Plan (in shares) | 15,513 | |||||
Dividend Reinvestment Plan | $ 0 | 657 | 0 | 0 | 0 | 657 |
Stock-based compensation | 0 | 1,921 | 0 | 0 | 0 | 1,921 |
Cash dividends | 0 | 0 | 0 | (19,532) | 0 | (19,532) |
Change in other comprehensive loss | 0 | 0 | (862) | 0 | 0 | (862) |
Net income | $ 0 | 0 | 0 | 69,757 | 0 | 69,757 |
Warrants exercised (in shares) | 124,851 | |||||
Warrants exercised | $ 1 | (1) | 0 | 0 | 0 | 0 |
Balance (in shares) at Sep. 30, 2018 | 81,396,047 | |||||
Balance at Sep. 30, 2018 | $ 896 | 939,801 | (23,783) | 1,439,452 | (239,589) | 2,116,777 |
Balance (in shares) at Dec. 31, 2018 | 80,501,948 | |||||
Balance at Dec. 31, 2018 | $ 898 | 942,062 | (18,006) | 1,479,149 | (282,237) | 2,121,866 |
Dividend Reinvestment Plan (in shares) | 70,798 | |||||
Dividend Reinvestment Plan | $ 1 | 2,521 | 0 | 0 | 0 | 2,522 |
Purchases of treasury stock (in shares) | (1,010,594) | |||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (36,301) | (36,301) |
Stock-based compensation | 0 | 4,848 | 0 | 0 | 0 | 4,848 |
Cash dividends | 0 | 0 | 0 | (74,422) | 0 | (74,422) |
Change in other comprehensive loss | 0 | 0 | 17,173 | 0 | 0 | 17,173 |
Net income | $ 0 | 0 | 0 | 211,758 | 0 | 211,758 |
Restricted stock units vested (in shares) | 123,199 | |||||
Restricted stock units vested | $ 1 | 0 | 0 | 0 | 0 | 1 |
Shares withheld related to net share settlement of RSUs | $ 0 | (2,300) | 0 | 0 | 0 | (2,300) |
Stock issued to directors (in shares) | 21,160 | |||||
Stock issued to directors | $ 0 | 749 | 0 | 0 | 0 | 749 |
Balance (in shares) at Sep. 30, 2019 | 79,706,511 | |||||
Balance at Sep. 30, 2019 | $ 900 | 947,880 | (833) | 1,616,485 | (318,538) | 2,245,894 |
Balance (in shares) at Jun. 30, 2019 | 79,818,003 | |||||
Balance at Jun. 30, 2019 | $ 900 | 945,250 | (1,358) | 1,568,351 | (313,846) | 2,199,297 |
Dividend Reinvestment Plan (in shares) | 23,508 | |||||
Dividend Reinvestment Plan | $ 0 | 841 | 0 | 0 | 0 | 841 |
Purchases of treasury stock (in shares) | (135,000) | |||||
Purchases of treasury stock | $ 0 | 0 | 0 | 0 | (4,692) | (4,692) |
Stock-based compensation | 0 | 1,789 | 0 | 0 | 0 | 1,789 |
Cash dividends | 0 | 0 | 0 | (24,701) | 0 | (24,701) |
Change in other comprehensive loss | 0 | 0 | 525 | 0 | 0 | 525 |
Net income | $ 0 | 0 | 0 | 72,835 | 0 | 72,835 |
Balance (in shares) at Sep. 30, 2019 | 79,706,511 | |||||
Balance at Sep. 30, 2019 | $ 900 | $ 947,880 | $ (833) | $ 1,616,485 | $ (318,538) | $ 2,245,894 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Retained Earnings [Member] | ||||
Cash dividends (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.93 | $ 0.72 |
Cash dividends (in dollars per share) | $ 0.31 | $ 0.24 | $ 0.93 | $ 0.72 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Cash Flows from Operating Activities | ||
Net income | $ 211,758 | $ 207,237 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Reversal for credit losses | (2,000) | (4,500) |
Provision for losses on other real estate owned | 494 | 0 |
Deferred tax liability | 9,911 | 2,342 |
Depreciation and amortization | 5,009 | 5,593 |
Amortization of right-of-use asset | 6,248 | 0 |
Change in operating lease liabilities | (5,298) | 0 |
Net gains on sale and transfer of other real estate owned | (193) | (567) |
Net gains on sale of held-for-sale loans | (795) | 0 |
Proceeds from sales of held-for sale loans | 38,742 | 8,000 |
Amortization on alternative energy partnerships, venture capital and other investments | 27,009 | 5,384 |
Net (gain)/loss on sales and calls of securities | 108 | 14 |
Amortization/accretion of security premiums/discounts, net | 2,376 | 2,371 |
Loss on sales or disposal of fixed assets | 0 | 107 |
Unrealized (gain)/loss on equity securities | (7,764) | 4,580 |
Stock based compensation and stock issued to officers as compensation | 5,597 | 5,976 |
Net change in accrued interest receivable and other assets | (31,640) | (7,863) |
Gain on acquisition | 0 | (340) |
Net change in other liabilities | 64,186 | 10,998 |
Net cash provided by operating activities | 323,748 | 239,332 |
Cash Flows from Investing Activities | ||
Decrease in interest-bearing deposits | 0 | 5,000 |
Purchase of investment securities available-for-sale | (539,979) | (448,805) |
Proceeds from sale of investment securities available-for-sale | 149,725 | 99,644 |
Proceeds from repayments, maturities and calls of investment securities available-for-sale | 233,058 | 346,328 |
Purchase of Federal Home Loan Bank stock | (975) | (5,430) |
Redemptions of Federal Home Loan Bank stock | 975 | 11,265 |
Net increase in loans | (803,291) | (771,290) |
Purchase of premises and equipment | (5,125) | (4,496) |
Proceeds from sales of other real estate owned | 1,905 | 3,302 |
Net increase in investment in affordable housing and alternative energy partnerships | (35,952) | (36,666) |
Net cash used for investing activities | (999,659) | (801,148) |
Cash Flows from Financing Activities | ||
Net increase in deposits | 955,679 | 890,823 |
Net decrease in federal funds purchased and securities sold under agreements to repurchase | 0 | (100,000) |
Advances from Federal Home Loan Bank | 3,610,000 | 4,495,000 |
Repayment of Federal Home Loan Bank borrowings | (3,540,000) | (4,610,000) |
Cash dividends paid | (74,422) | (58,498) |
Repayment of other borrowings | (39,918) | (37,117) |
Proceeds from other borrowings | 25,507 | 29,554 |
Purchases of treasury stock | (36,301) | 0 |
Proceeds from shares issued under Dividend Reinvestment Plan | 2,522 | 1,982 |
Proceeds from exercise of stock options | 0 | 838 |
Taxes paid related to net share settlement of RSUs | (2,300) | (3,550) |
Net cash provided by financing activities | 900,767 | 609,032 |
Decrease in cash, cash equivalents, and restricted cash | 224,856 | 47,216 |
Cash, cash equivalents, and restricted cash, beginning of the period | 600,290 | 534,801 |
Cash, cash equivalents, and restricted cash, end of the period | 825,146 | 582,017 |
Supplemental disclosure of cash flow information | ||
Interest | 137,422 | 79,877 |
Income taxes paid | 43,507 | 48,072 |
Non-cash investing and financing activities: | ||
Net change in unrealized holding loss on securities available-for-sale, net of tax | 21,292 | (16,793) |
Net change in unrealized holding loss on cash flow hedge derivatives | (4,119) | 4,595 |
Transfers to other real estate owned from loans held for investment | 860 | 1,646 |
Loans transferred from held for investment to held for sale, net | $ 75,285 | $ 0 |
Note 1 - Business
Note 1 - Business | 9 Months Ended |
Sep. 30, 2019 | |
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”), ten limited partnerships investing in affordable housing investments in which the Bank is the sole limited partner, Asia Realty Corp. and GBC Venture Capital, Inc. Bancorp also owns 100% of the common stock of five 1962 September 30, 2019, not |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 2. 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, 2019. 10 December 31, 2018. The preparation of the Condensed Consolidated Financial Statements in accordance with GAAP requires management of the Company to make estimates and judgments that affect the reported amounts of assets and liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements. Actual results could differ from those estimates. The Company expects that the most significant estimates subject to change are the allowance for loan losses. |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 3. Accounting Standards A dopted in 201 9 In February 2016, 2016 02, 842 842 No. 2018 01, 842”; No. 2018 10, 842, No. 2018 11, 12 The Company has adopted this guidance using the modified-retrospective transition method, which allows the adoption of the accounting standard prospectively without adjusting comparative prior period financial information using the effective date as our date of initial application. Consequently, the Company will not January 1, 2019. The new standard provides a number of optional practical expedients in transition. We have elected the ‘package of practical expedients’, which permits us not Upon adoption, we recognized an operating lease liability of $41.2 million, and a corresponding ROU asset of $40.6 million based on the present value of the remaining minimum lease payments under current leasing standards for existing operating leases. We elected the short-term lease recognition exemption for all leases that qualify. Consequently, we will not not 10. In March 2017, 2017 08, 310 20 not December 15, 2018. not 2017 8. In August 2017, 2017 12, 815 2017 12, January 1, 2019, not In October 2018, 2018 16, 815 815 2018 16, January 1, 2019, not In March 2019, 2016 02, 842 not 842 may 820, 1 942, 2 3 1 2. not 3 842. December 15, 2019, 842 January 1, 2019, 842 10 65 1 Other Accounting Standards In June 2016, 2016 13, 326 not 2016 13 December 15, 2019. The Company has established a multidisciplinary project team and implementation plan, reached accounting decisions on various matters, developed a conceptual framework, and engaged an outside firm to develop econometric regression models for net losses during the R&S forecast period. The Company continues to test and refine the CECL models and has completed one two six six January 1, 2020. not In January 2017, 2017 04, 350 2 2 December 15, 2019. 2017 04 not In July 2017, 2017 11, 260 480 815 two 480, December 15, 2020. first 250 10 45 5 45 10. not not In August 2018, No. 2018 13, no 1 2 3 No. 2018 13 December 15, 2019; No. 2018 13 not In April 2019, No. 2019 04, 326, 815, 825, 2016 13 2017 12 2016 01 2016 01 2016 13 December 15, 2019 2017 12 2017 12 2016 01 not 2019 04 2016 13 2019 04 In May 2019, No. 2019 05, 326 2016 13, 1 2 326 20 825 10. not 2019 05 2016 13 first 2020 not 2019 05 not |
Note 4 - Cash, Cash Equivalents
Note 4 - Cash, Cash Equivalents and Restricted Cash | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | 4. The Company manages its cash and cash equivalents, which consist of cash on hand, amounts due from banks, and short-term investments with original maturity of three The Company is required to maintain reserves with the Federal Reserve Bank. Reserve requirements are based on a percentage of deposit liabilities. The average reserve balances required were $144 thousand and $5.4 million for the nine September 30, 2019 December 31, 2018, September 30, 2019 December 31, 2018, September 30, 2019 December 31, 2018, In the unaudited condensed consolidated statement of cash flows, the amounts for the nine September 30, 2018 zero |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5. 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 (“RSUs”) with anti-dilutive effect were not Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 (In thousands, except share and per share data) Net income $ 72,835 $ 69,757 $ 211,758 $ 207,237 Weighted-average shares: Basic weighted-average number of common shares outstanding 79,736,814 81,311,899 80,096,855 81,224,555 Dilutive effect of weighted-average outstanding common share equivalents Warrants — 234,105 — 268,988 RSUs 257,016 309,267 233,761 277,331 Diluted weighted-average number of common shares outstanding 79,993,830 81,855,271 80,330,616 81,770,874 Average stock options and restricted stock units with anti-dilutive effect 32,321 1,854 47,690 15,625 Earnings per common share: Basic $ 0.91 $ 0.86 $ 2.64 $ 2.55 Diluted $ 0.91 $ 0.85 $ 2.64 $ 2.53 |
Note 6 - Stock-based Compensati
Note 6 - Stock-based Compensation | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 6. Pursuant to the Company’s 2005 may There were 35,880 stock option shares exercised in the nine September 30, 2018 nine September 30, 2018. RSUs are generally granted at no three one three may may Performance-based RSUs are granted at the target amount of awards. Based on the Company’s attainment of specified performance goals and consideration of market conditions, the number of shares that vest can be adjusted to a minimum of zero three Compensation costs for the time-based awards are based on the quoted market price of the Company’s stock at the grant date. Compensation costs associated with performance-based RSUs are based on grant date fair value, which considers both market and performance conditions. Compensation costs of both time-based and performance-based awards are recognized on a straight-line basis from the grant date until the vesting date of each grant. The following table presents RSU activity during the nine September 30, 2019: Time-Based RSUs Performance-Based RSUs Weighted-Average Weighted-Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at December 31, 2018 284,493 $ 35.79 265,659 $ 32.90 Granted 108,925 36.37 124,586 36.37 Vested (92,868 ) 35.12 (92,501 ) 38.36 Forfeited (17,002 ) 38.42 — — Balance at September 30, 2019 283,548 $ 36.08 297,744 $ 32.65 The compensation expense recorded for RSUs was $1.8 million and $1.9 million for the three September 30, 2019 2018, nine September 30, 2019 2018, September 30, 2019 2018, September 30, 2019, As of September 30, 2019, 2005 Tax benefit from share-based payment arrangements reduced income tax expense by $0.6 million and $0.8 million in the nine September 30, 2019 2018, |
Note 7 - Investment Securities
Note 7 - Investment Securities | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 7. The following tables set forth the amortized cost, gross unrealized gains, gross unrealized losses, and fair value of securities available-for-sale as of September 30, 2019, December 31, 2018: September 30, 2019 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. government agency entities $ 92,477 $ 750 $ 273 $ 92,954 U.S. government sponsored entities 350,000 — 2,301 347,699 Mortgage-backed securities 880,406 7,714 1,385 886,735 Collateralized mortgage obligations 683 — 18 665 Corporate debt securities 98,865 533 13 99,385 Total $ 1,422,431 $ 8,997 $ 3,990 $ 1,427,438 December 31, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 124,801 $ — $ 50 $ 124,751 U.S. government agency entities 6,066 — 195 5,871 U.S. government sponsored entities 400,000 — 11,638 388,362 Mortgage-backed securities 670,874 960 15,089 656,745 Collateralized mortgage obligations 1,005 — 28 977 Corporate debt securities 64,985 818 — 65,803 Total $ 1,267,731 $ 1,778 $ 27,000 $ 1,242,509 The amortized cost and fair value of securities available-for-sale as of September 30, 2019, may may September 30, 2019 Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 19,993 $ 20,103 Due after one year through five years 429,449 427,578 Due after five years through ten years 41,718 41,710 Due after ten years 931,271 938,047 Total $ 1,422,431 $ 1,427,438 Equity Securities 2016 01 January 1, 2018. three September 30, 2019, three September 30, 2018. nine September 30, 2019, nine September 30, 2018. September 30, 2019 December 31, 2018, The following tables set forth the gross unrealized losses and related fair value of the Company’s investment portfolio, aggregated by investment category and the length of time that individual security has been in a continuous unrealized loss position, as of September 30, 2019 December 31, 2018: September 30, 2019 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. government agency entities $ 49,796 $ 108 $ 3,748 $ 165 $ 53,544 $ 273 U.S. government sponsored entities — — 347,699 2,301 347,699 2,301 Mortgage-backed securities 115,727 220 146,666 1,165 262,393 1,385 Collateralized mortgage obligations — — 665 18 665 18 Corporate debt securities 28,819 13 — — 28,819 13 Total $ 194,342 $ 341 $ 498,778 $ 3,649 $ 693,120 $ 3,990 December 31, 2018 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. treasury securities $ 124,751 $ 50 $ — $ — $ 124,751 $ 50 U.S. government agency entities 3,388 77 2,483 118 5,871 195 U.S. government sponsored entities — — 388,362 11,638 388,362 11,638 Mortgage-backed securities 48,528 502 507,701 14,587 556,229 15,089 Collateralized mortgage obligations — — 977 28 977 28 Total $ 176,667 $ 629 $ 899,523 $ 26,371 $ 1,076,190 $ 27,000 To the Company’s knowledge, the unrealized losses were primarily attributed to yield curve movement, together with widened liquidity spreads and credit spreads. The issuers have not, no not nine September 30, 2019 2018. Securities available-for-sale having a carrying value of $20.8 million and $28.5 million as of September 30, 2019 December 31, 2018, |
Note 8 - Loans
Note 8 - Loans | 9 Months Ended |
Sep. 30, 2019 | |
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; and Las Vegas, Nevada. The Company also has loan customers in Hong Kong. The Company has no The types of loans in the Company’s Condensed Consolidated Balance Sheets as of September 30, 2019, December 31, 2018, September 30, 2019 December 31, 2018 (In thousands) Commercial loans $ 2,668,061 $ 2,741,965 Residential mortgage loans 4,010,739 3,693,853 Commercial mortgage loans 7,135,599 6,724,200 Equity lines 315,252 249,967 Real estate construction loans 593,816 581,454 Installment and other loans 5,087 4,349 Gross loans $ 14,728,554 $ 13,995,788 Allowance for loan losses (125,908 ) (122,391 ) Unamortized deferred loan fees, net (1,081 ) (1,565 ) Total loans, net $ 14,601,565 $ 13,871,832 Loans held for sale $ 36,778 $ — As of September 30, 2019, December 31, 2018, September 30, 2019 December 31, 2018, The following table presents the average recorded investment and interest income recognized on impaired loans for the periods indicated: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 38,659 $ 208 $ 48,772 $ 461 $ 41,132 $ 705 $ 46,920 $ 1,152 Real estate construction loans 4,662 — 5,980 — 4,734 — 7,490 — Commercial mortgage loans 40,699 332 55,375 576 51,323 1,034 59,314 1,757 Residential mortgage loans and equity lines 13,133 78 13,724 108 13,126 237 14,032 279 Total impaired loans $ 97,153 $ 618 $ 123,851 $ 1,145 $ 110,315 $ 1,976 $ 127,756 $ 3,188 The following table presents impaired loans and the related allowance for loan losses as of the dates indicated: September 30, 2019 December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 24,711 $ 20,492 $ — $ 32,015 $ 30,368 $ — Real estate construction loans 5,776 4,629 — 5,776 4,873 — Commercial mortgage loans 11,663 11,517 — 34,129 24,409 — Residential mortgage loans and equity lines 6,808 6,770 — 5,685 5,665 — Subtotal $ 48,958 $ 43,408 $ — $ 77,605 $ 65,315 $ — With allocated allowance Commercial loans $ 13,251 $ 13,234 $ 744 $ 6,653 $ 6,570 $ 1,837 Commercial mortgage loans 26,356 26,288 536 27,099 27,063 877 Residential mortgage loans and equity lines 7,011 5,917 221 8,934 7,938 1,088 Subtotal $ 46,618 $ 45,439 $ 1,501 $ 42,686 $ 41,571 $ 3,802 Total impaired loans $ 95,576 $ 88,847 $ 1,501 $ 120,291 $ 106,886 $ 3,802 The following tables present the aging of the loan portfolio by type as of September 30, 2019, December 31, 2018: September 30, 2019 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 (In thousands) Commercial loans $ 29,905 $ 8,736 $ — $ 22,970 $ 61,611 $ 2,606,450 $ 2,668,061 Real estate construction loans — — — 4,629 4,629 589,187 593,816 Commercial mortgage loans 2,926 3,687 683 12,330 19,626 7,115,973 7,135,599 Residential mortgage loans and equity lines 286 — — 7,271 7,557 4,318,434 4,325,991 Installment and other loans — — — — — 5,087 5,087 Total loans $ 33,117 $ 12,423 $ 683 $ 47,200 $ 93,423 $ 14,635,131 $ 14,728,554 December 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 (In thousands) Commercial loans $ 25,494 $ 2,454 $ 514 $ 18,805 $ 47,267 $ 2,694,698 $ 2,741,965 Real estate construction loans — 3,156 — 4,872 8,028 573,426 581,454 Commercial mortgage loans 10,797 8,545 3,259 10,611 33,212 6,690,988 6,724,200 Residential mortgage loans and equity lines 9,687 336 — 7,527 17,550 3,926,270 3,943,820 Installment and other loans — — — — — 4,349 4,349 Total loans $ 45,978 $ 14,491 $ 3,773 $ 41,815 $ 106,057 $ 13,889,731 $ 13,995,788 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 TDRs 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, market and environmental conditions, among other factors. A TDR 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 September 30, 2019, December 31, 2018. September 30, 2019, December 31, 2018. three nine September 30, 2019 2018, September 30, 2019 2018, three nine September 30, 2019 2018: Three Months Ended September 30, 2019 September 30, 2019 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 3 $ 7,585 $ 6,165 $ — $ 89 Total 3 $ 7,585 $ 6,165 $ — $ 89 Three Months Ended September 30, 2018 September 30, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 3 $ 4,621 $ 4,621 $ — $ 2,467 Commercial mortgage loans 1 339 339 — — Residential mortgage loans and equity lines 2 413 413 — 16 Total 6 $ 5,373 $ 5,373 $ — $ 2,483 Nine Months Ended September 30, 2019 September 30, 2019 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 23 $ 25,937 $ 10,814 $ — $ 125 Total 23 $ 25,937 $ 10,814 $ — $ 125 Nine Months Ended September 30, 2018 September 30, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 21 $ 12,212 $ 12,212 $ — $ 2,493 Commercial mortgage loans 7 14,626 14,626 — 119 Residential mortgage loans and equity lines 4 1,213 1,213 — 24 Total 32 $ 28,051 $ 28,051 $ — $ 2,636 Modifications of the loan terms in the nine September 30, 2019 three twelve We expect that the TDRs on accruing status as of September 30, 2019, September 30, 2019, December 31, 2018, September 30, 2019 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 10,756 $ — $ — $ 10,756 Commercial mortgage loans 782 5,757 18,936 25,475 Residential mortgage loans 2,931 319 2,166 5,416 Total accruing TDRs $ 14,469 $ 6,076 $ 21,102 $ 41,647 September 30, 2019 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 18,057 $ — $ — $ 18,057 Residential mortgage loans 1,629 — 101 1,730 Total non-accrual TDRs $ 19,686 $ — $ 101 $ 19,787 December 31, 2018 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 18,135 $ — $ — $ 18,135 Commercial mortgage loans 14,022 7,420 19,418 40,860 Residential mortgage loans 3,353 327 2,396 6,076 Total accruing TDRs $ 35,510 $ 7,747 $ 21,814 $ 65,071 December 31, 2018 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 13,771 $ — $ — $ 13,771 Commercial mortgage loans 3,682 — 4,884 8,566 Residential mortgage loans 1,741 — 111 1,852 Total non-accrual TDRs $ 19,194 $ — $ 4,995 $ 24,189 The activity within TDRs for the periods indicated is set forth below: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Accruing TDRs Beginning balance $ 64,898 $ 84,487 $ 65,071 $ 68,566 New restructurings 240 2,589 15,432 25,036 Restructured loans restored to accrual status — 577 — 2,895 Charge-offs (1,341 ) — (1,341 ) — Payments (22,150 ) (13,055 ) (36,219 ) (19,801 ) Restructured loans placed on non-accrual status — — (1,296 ) (2,098 ) Ending balance $ 41,647 $ 74,598 $ 41,647 $ 74,598 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Non-accrual TDRs Beginning balance $ 22,457 $ 30,347 $ 24,189 $ 33,415 New restructurings 7,345 2,784 10,505 3,015 Restructured loans placed on non-accrual status — — 1,296 2,098 Charge-offs (2,389 ) — (3,607 ) (161 ) Payments (7,626 ) (4,836 ) (12,596 ) (7,754 ) Restructured loans restored to accrual status — (577 ) — (2,895 ) Ending balance $ 19,787 $ 27,718 $ 19,787 $ 27,718 The Company considers a loan to be in payment default once it is 60 to 90 days contractually past due under the modified terms. The Company did not twelve September 30, 2019. Under the Company’s internal underwriting policy, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification in order to determine whether a borrower is experiencing financial difficulty. As of September 30, 2019, 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 set forth the loan portfolio by risk rating as of September 30, 2019 December 31, 2018: September 30, 2019 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,432,623 $ 151,265 $ 84,173 $ — $ 2,668,061 Real estate construction loans 514,725 74,462 4,629 — 593,816 Commercial mortgage loans 6,824,241 233,155 78,203 — 7,135,599 Residential mortgage loans and equity lines 4,317,793 927 7,271 — 4,325,991 Installment and other loans 5,087 — — — 5,087 Total gross loans $ 14,094,469 $ 459,809 $ 174,276 $ — $ 14,728,554 December 31, 2018 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,603,901 $ 87,987 $ 50,077 $ — $ 2,741,965 Real estate construction loans 514,406 62,175 4,873 — 581,454 Commercial mortgage loans 6,337,368 304,791 82,041 — 6,724,200 Residential mortgage loans and equity lines 3,934,762 — 9,058 — 3,943,820 Installment and other loans 4,349 — — — 4,349 Total gross loans $ 13,394,786 $ 454,953 $ 146,049 $ — $ 13,995,788 The following tables set forth the balance in the allowance for loan losses by portfolio segment and based on impairment method as of September 30, 2019 December 31, 2018: September 30, 2019 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 744 $ — $ 536 $ 221 $ — $ 1,501 Balance $ 33,726 $ 4,629 $ 37,805 $ 12,687 $ — $ 88,847 Loans collectively evaluated for impairment Allowance $ 57,805 $ 21,698 $ 32,931 $ 11,948 $ 25 $ 124,407 Balance $ 2,634,335 $ 589,187 $ 7,097,794 $ 4,313,304 $ 5,087 $ 14,639,707 Total allowance $ 58,549 $ 21,698 $ 33,467 $ 12,169 $ 25 $ 125,908 Total balance $ 2,668,061 $ 593,816 $ 7,135,599 $ 4,325,991 $ 5,087 $ 14,728,554 December 31, 2018 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 1,837 $ — $ 877 $ 1,088 $ — $ 3,802 Balance $ 36,940 $ 4,873 $ 51,471 $ 13,602 $ — $ 106,886 Loans collectively evaluated for impairment Allowance $ 53,141 $ 19,626 $ 32,610 $ 13,194 $ 18 $ 118,589 Balance $ 2,705,025 $ 576,581 $ 6,672,729 $ 3,930,218 $ 4,349 $ 13,888,902 Total allowance $ 54,978 $ 19,626 $ 33,487 $ 14,282 $ 18 $ 122,391 Total balance $ 2,741,965 $ 581,454 $ 6,724,200 $ 3,943,820 $ 4,349 $ 13,995,788 The following tables set forth activity in the allowance for loan losses by portfolio segment for the three nine September 30, 2019, September 30, 2018. one not Three months ended September 30, 2019 2018 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) June 30, 2019 Ending Balance $ 54,293 $ 21,010 $ 33,154 $ 14,164 $ 30 $ 122,651 Provision/(reversal) for possible credit losses 7,400 (2,690 ) (4,648 ) (2,057 ) (5 ) (2,000 ) Charge-offs (3,356 ) — — — — (3,356 ) Recoveries 212 3,378 4,961 62 — 8,613 Net (charge-offs)/recoveries (3,144 ) 3,378 4,961 62 — 5,257 September 30, 2019 Ending Balance $ 58,549 $ 21,698 $ 33,467 $ 12,169 $ 25 $ 125,908 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) June 30, 2018 Ending Balance $ 55,179 $ 20,663 $ 33,976 $ 12,062 $ 19 $ 121,899 Provision/(reversal) for possible credit losses 1,270 519 (4,138 ) 842 7 (1,500 ) Charge-offs (122 ) — — — — (122 ) Recoveries 187 44 2,944 5 — 3,180 Net recoveries 65 44 2,944 5 — 3,058 September 30, 2018 Ending Balance $ 56,514 $ 21,226 $ 32,782 $ 12,909 $ 26 $ 123,457 Nine months ended September 30, 2019 2018 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2019 Beginning Balance $ 54,978 $ 19,626 $ 33,487 $ 14,282 $ 18 $ 122,391 Provision/(reversal) for possible credit losses 8,262 (2,540 ) (5,234 ) (2,495 ) 7 (2,000 ) Charge-offs (6,300 ) — — — — (6,300 ) Recoveries 1,609 4,612 5,214 382 — 11,817 Net (charge-offs)/recoveries (4,691 ) 4,612 5,214 382 — 5,517 September 30, 2019 Ending Balance $ 58,549 $ 21,698 $ 33,467 $ 12,169 $ 25 $ 125,908 Reserve for impaired loans $ 744 $ — $ 536 $ 221 $ — $ 1,501 Reserve for non-impaired loans $ 57,805 $ 21,698 $ 32,931 $ 11,948 $ 25 $ 124,407 Reserve for off-balance sheet credit commitments $ 2,505 $ 1,608 $ 121 $ 313 $ 3 $ 4,550 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2018 Beginning Balance $ 49,796 $ 24,838 $ 37,610 $ 11,013 $ 22 $ 123,279 Provision/(reversal) for possible credit losses 6,097 (3,744 ) (8,672 ) 1,815 4 (4,500 ) Charge-offs (629 ) — (390 ) — — (1,019 ) Recoveries 1,250 132 4,234 81 — 5,697 Net recoveries 621 132 3,844 81 — 4,678 September 30, 2018 Ending Balance $ 56,514 $ 21,226 $ 32,782 $ 12,909 $ 26 $ 123,457 Reserve for impaired loans $ 2,506 $ — $ 917 $ 281 $ — $ 3,704 Reserve for non-impaired loans $ 54,008 $ 21,226 $ 31,865 $ 12,628 $ 26 $ 119,753 Reserve for off-balance sheet credit commitments $ 1,615 $ 1,174 $ 78 $ 215 $ 6 $ 3,088 Loans Held-for-Sale At the time of commitment to originate or purchase a loan, the loan is determined to be held for investment if it is in the Company’s intent to hold the loan to maturity or for the “foreseeable future,” subject to periodic reviews under the Company’s evaluation processes, including asset/liability and credit risk management. When the Company subsequently changes its intent to hold certain loans, the loans are transferred from held-for-investment to held-for-sale at the lower of cost or fair value. As of September 30, 2019, December 31, 2018. Loans Purchases, Transfers and Sales The Company purchases and sells loans in the secondary market in the ordinary course of business. From time to time, purchased loans may three nine September 30, 2019, three nine September 30, 2019. three nine September 30, 2019. three nine September 30, 2018. |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9 Commitments and Contingencies From time to time, Bancorp and its subsidiaries are parties to litigation that arise in the ordinary course of business or otherwise are incidental to various aspects of its operations. Based upon information available to the Company and its review of any such litigation with counsel, management believes that the liability relating to such litigation, if any, would not Although the Company establishes accruals for legal proceedings when information related to the loss contingencies represented by those matters indicates both that a loss is probable and that the amount of loss can be reasonably estimated, the Company does not may not may In the normal course of business, the Company from time to time 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 The Company’s unfunded commitments related to investments in qualified affordable housing and alternative energy partnerships were $131.4 million and $113.0 million as of September 30, 2019 December 31, 2018, |
Note 10 - Leases
Note 10 - Leases | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. The Company determines if a contract arrangement is a lease at inception and primarily enters into operating lease contracts for its branch locations, office space and certain equipment. As part of its property lease agreements, the Company may not September 30, 2019. Accounting Policy Elections - not not not Significant Assumptions - September 30, 2019. As of September 30, 2019, three nine September 30, 2019, three nine September 30, 2019, 5 September 30, 2019. As of September 30, 2019 Operating Leases (In thousands) Remaining 2019 $ 2,114 2020 8,543 2021 7,635 2022 6,428 2023 5,426 Thereafter 9,531 Total lease payments 39,677 Less amount of payment representing interest (3,535 ) Total present value of lease payments $ 36,142 The following table shows future minimum payments under operating leases with terms in excess of one December 31, 2018. As of December 31, 2018 Operating Leases (In thousands) 2019 $ 8,835 2020 7,220 2021 6,406 2022 5,406 2023 4,208 Thereafter 4,899 Total minimum lease payments $ 36,974 |
Note 11 - Borrowed Funds
Note 11 - Borrowed Funds | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. Borrowing s from the F ederal H ome L oan B ank (“FHLB ”) - September 30, 2019, December 31, 2018. September 30, 2019 December 31, 2018. September 30, 2019, December 2019, May 2021, June 2021, July 2021, May 2023. Other Borrowing s - July 2020, three September 30, 2019. Long-term Debt - October 12, 2017, one September 30, 2019, December 31, 2018. December 31, 2018, October 12, 2020. The Company established three 2003 two 2007 twenty may not, At September 30, 2019, December 31, 2018. |
Note 12 - Income Taxes
Note 12 - Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 12. The effective tax rate for the first nine 2019 first nine 2018. first nine 2019 The Company’s tax returns are open for audit by the Internal Revenue Service back to 2016 2014. 2017. It is reasonably possible that unrecognized tax benefits could change significantly over the next twelve not |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | 1 3 . Fair Value Measurement s The Company determined the fair values of our financial instruments based on the following: ● 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 Equity Securities – 1 Foreign Exchange Contracts 2 Warrants 3 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 nine September 30, 2019 December 31, 2018, no The following tables present the Company’s hierarchy for its assets and liabilities measured at fair value on a recurring basis as of September 30, 2019, December 31, 2018: September 30, 2019 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. government agency entities $ — $ 92,954 $ — $ 92,954 U.S. government sponsored entities — 347,699 — 347,699 Mortgage-backed securities — 886,735 — 886,735 Collateralized mortgage obligations — 665 — 665 Corporate debt securities — 99,385 — 99,385 Total securities available-for-sale $ — $ 1,427,438 $ — $ 1,427,438 Equity securities Mutual funds $ 6,307 $ — $ — $ 6,307 Preferred stock of government sponsored entities 15,145 — — 15,145 Other equity securities 11,410 — — 11,410 Total equity securities $ 32,862 $ — $ — $ 32,862 Warrants $ — $ — $ 31 $ 31 Interest rate swaps — 1,697 — 1,697 Foreign exchange contracts — 965 — 965 Total assets $ 32,862 $ 1,430,100 $ 31 $ 1,462,993 Liabilities Option contracts $ — $ 6 $ — $ 6 Interest rate swaps — 17,734 — 17,734 Foreign exchange contracts — 2,435 — 2,435 Total liabilities $ — $ 20,175 $ — $ 20,175 December 31, 2018 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 124,751 $ — $ — $ 124,751 U.S. government agency entities — 5,871 — 5,871 U.S. government sponsored entities — 388,363 — 388,363 Mortgage-backed securities — 656,744 — 656,744 Collateralized mortgage obligations — 977 — 977 Corporate debt securities — 65,803 — 65,803 Total securities available-for-sale $ 124,751 $ 1,117,758 $ — $ 1,242,509 Equity securities Mutual funds $ 6,094 $ — $ — $ 6,094 Preferred stock of government sponsored entities 7,822 — — 7,822 Other equity securities 11,182 — — 11,182 Total equity securities $ 25,098 $ — $ — $ 25,098 Warrants $ — $ — $ 184 $ 184 Interest rate swaps — 7,810 — 7,810 Foreign exchange contracts — 397 — 397 Total assets $ 149,849 $ 1,125,965 $ 184 $ 1,275,998 Liabilities Option contracts $ — $ 6 $ — $ 6 Interest rate swaps — 1,543 — 1,543 Foreign exchange contracts — 1,763 — 1,763 Total liabilities $ — $ 3,312 $ — $ 3,312 The Company measured the fair value of its warrants on a recurring basis using significant unobservable inputs. The fair value adjustment of warrants was included in other operating income in the third 2019. For financial assets measured at fair value on a nonrecurring basis that were still reflected in the Condensed Consolidated Balance Sheets as of September 30, 2019, September 30, 2019, December 31, 2018, As of September 30, 2019 Total Losses Fair Value Measurements Using Total Fair For the Three Months Ended For the Nine Months Ended Level 1 Level 2 Level 3 Value Measurements September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 12,491 $ 12,491 $ — $ — $ — $ — Commercial mortgage loans — — 25,752 25,752 — — — — Residential mortgage loans and equity lines — — 5,696 5,696 — — — — Total impaired loans — — 43,939 43,939 — — — — Loans held-for-sale — — 36,778 36,778 120 — 120 — Other real estate owned (1) — 7,625 4,343 11,968 — — 494 — Investments in venture capital and private company stock — — 1,671 1,671 83 62 101 326 Total assets $ — $ 7,625 $ 86,731 $ 94,356 $ 203 $ 62 $ 715 $ 326 ( 1 As of December 31, 2018 Total Losses/(Gains) Fair Value Measurements Using Total Fair Value For the Twelve Months Ended Level 1 Level 2 Level 3 Measurements December 31, 2018 December 31, 2017 (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 4,733 $ 4,733 $ — $ 25 Commercial mortgage loans — — 26,186 26,186 — — Residential mortgage loans and equity lines — — 6,850 6,850 — — Total impaired loans — — 37,769 37,769 — 25 Other real estate owned (1) — 9,023 4,343 13,366 (619 ) 457 Investments in venture capital and private company stock — — 2,162 2,162 330 392 Total assets $ — $ 9,023 $ 44,274 $ 53,297 $ (289 ) $ 874 ( 1 The significant unobservable (Level 3 twelve 2018 The significant unobservable inputs used in the fair value measurement of other real estate owned (“OREO”) are primarily based on the appraised value of OREO adjusted by estimated sales cost and commissions. The Company applies estimated sales cost and commissions ranging from 3% to 6% of the collateral value of impaired loans, quoted price, or loan sale price of loans held for sale, and appraised value of OREO. |
Note 14 - Fair Value of Financi
Note 14 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 1 4 . 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 Available for Sale 1 2 Equity Securities – 1 Loans - third The fair value of performing loans is 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 is 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 Loans Held-for-Sale – third 3 FHLB Stock - Deposit Liabilities - 3 Advanc es from - 2 Other Borrowings - 3 Long-term D ebt - 2 Currency Option and Foreign Exchange Contracts 2 Interest Rate Swaps third 2 Off-Balance-Sheet Financi al Instruments - 3 Fair value is estimated in accordance with ASC Topic 825. not one no The following table sets forth the carrying and notional amounts and estimated fair value of financial instruments as of September 30, 2019 December 31, 2018: September 30, 2019 December 31, 2018 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 257,189 $ 257,189 $ 225,333 $ 225,333 Short-term investments 567,957 567,957 374,957 374,957 Securities available-for-sale 1,427,438 1,427,438 1,242,509 1,242,509 Loans held-for-sale 36,778 36,778 — — Loans, net 14,601,565 15,004,114 13,871,832 13,928,162 Equity securities 32,862 32,862 25,098 25,098 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants 31 31 184 184 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 70,955 $ 965 $ 86,875 $ 397 Interest rate swaps 139,466 1,697 467,410 7,810 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 14,658,269 $ 14,703,977 $ 13,702,340 $ 13,754,028 Advances from Federal Home Loan Bank 600,000 603,014 530,000 529,500 Other borrowings 38,369 31,844 35,756 34,031 Long-term debt 160,386 113,409 189,448 132,615 Notional Notional Amount Fair Value Amount Fair Value Option contracts $ 1,172 $ 6 $ 1,215 $ 6 Foreign exchange contracts 121,769 2,435 94,977 1,763 Interest rate swaps 581,496 17,734 265,166 1,543 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,097,207 $ (9,291 ) $ 2,691,579 $ (8,843 ) Standby letters of credit 264,059 (2,537 ) 245,087 (2,662 ) Other letters of credit 29,230 (28 ) 35,759 (30 ) Bill of lading guarantees 743 — 730 — The following tables set forth the level in the fair value hierarchy for the estimated fair values of financial instruments as of September 30, 2019, December 31, 2018. As of September 30, 2019 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 257,189 $ 257,189 $ — $ — Short-term investments 567,957 567,957 — — Securities available-for-sale 1,427,438 — 1,427,438 — Loans held-for-sale 36,778 — — 36,778 Loans, net 15,004,114 — — 15,004,114 Equity securities 32,862 32,862 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 31 — — 31 Financial Liabilities Deposits 14,703,977 — — 14,703,977 Advances from Federal Home Loan Bank 603,014 — 603,014 — Other borrowings 31,844 — — 31,844 Long-term debt 113,409 — 113,409 — As of December 31, 2018 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 225,333 $ 225,333 $ — $ — Short-term investments 374,957 374,957 — — Securities available-for-sale 1,242,509 124,751 1,117,758 — Loans, net 13,928,162 — — 13,928,162 Equity securities 25,098 25,098 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 184 — — 184 Financial Liabilities Deposits 13,754,028 — — 13,754,028 Advances from Federal Home Loan Bank 529,500 — 529,500 — Other borrowings 34,031 — — 34,031 Long-term debt 132,615 — 132,615 — |
Note 15 - Goodwill and Goodwill
Note 15 - Goodwill and Goodwill Impairment | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 1 5 . 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 September 30, 2019, no |
Note 16 - Financial Derivatives
Note 16 - Financial Derivatives | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | 1 6 . Financial Derivatives It is our policy not may may may The Company follows ASC Topic 815 not third not The Company offers various interest rate derivative contracts to its customers. When derivative transactions are executed with its customers, the derivative contracts are offset by paired trades with third not not third In May 2014, ten five ten June 2014 June 2024, three three September 30, 2019 December 31, 2018, September 30, 2019 December 31, 2018, three September 30, 2019 2018, nine September 30, 2019 2018, September 30, 2019, 2018, not As of September 30, 2019, three ten one September 30, 2019, December 31, 2018, three September 30, 2019 2018, nine September 30, 2019 2018, September 30, 2019, 2018, 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 September 30, 2019 December 31, 2018. The Company from time to time 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 September 30, 2019, September 30, 2019, September 30, 2019. December 31, 2018, December 31, 2018, December 31, 2018. |
Note 17 - Balance Sheet Offsett
Note 17 - Balance Sheet Offsetting | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 1 7 . 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 September 30, 2019, December 31, 2018, 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) September 30, 2019 Assets: Derivatives $ 1,697 $ — $ 1,697 $ — $ — $ 1,697 Liabilities: Derivatives $ 17,734 $ — $ 17,734 $ — $ (22,198 ) $ (4,464 ) December 31, 2018 Assets: Derivatives $ 7,810 $ — $ 7,810 $ — $ — $ 7,810 Liabilities: Derivatives $ 1,543 $ — $ 1,543 $ — $ (1,543 ) $ — |
Note 18 - Revenue From Contract
Note 18 - Revenue From Contracts With Customers | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 1 8 . 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: Three months Ended September 30, Nine months Ended September 30, 2019 2018 2019 2018 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts $ 1,892 $ 2,027 $ 5,940 $ 6,421 Wealth management fees 2,049 1,528 6,258 4,252 Other service fees (1) 3,645 3,376 10,593 10,140 Total noninterest income 7,586 6,931 22,791 20,813 Noninterest income, not in-scope (2) 2,802 904 13,312 99 Total noninterest income $ 10,388 $ 7,835 $ 36,103 $ 20,912 ( 1 ( 2 606. 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 that 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 by the Company 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 by the Company. 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 19 - Stockholders' Equity
Note 19 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 1 9 . Stockholders’ Equity Total equity was $2.25 billion as of September 30, 2019, December 31, 2018, Activity in accumulated other comprehensive income, net of tax, and reclassification out of accumulated other comprehensive income for the three nine September 30, 2019, September 30, 2018, Three months ended September 30, 2019 Three months ended September 30, 2018 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, gain/(loss), net of tax Securities available-for-sale $ 2,209 $ (24,084 ) Cash flow hedge derivatives (3,567 ) 1,163 Total $ (1,358 ) $ (22,921 ) Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 1,750 $ 517 $ 1,233 $ (3,603 ) $ (1,065 ) $ (2,538 ) Cash flow hedge derivatives (1,126 ) (333 ) (793 ) 2,365 699 1,666 Total $ 624 $ 184 $ 440 $ (1,238 ) $ (366 ) $ (872 ) Reclassification adjustment for net losses in net income Securities available-for-sale 121 36 85 14 4 10 Cash flow hedge derivatives — — — — — — Total 121 36 85 14 4 10 Total other comprehensive income/(loss) Securities available-for-sale $ 1,871 $ 553 $ 1,318 $ (3,589 ) $ (1,061 ) $ (2,528 ) Cash flow hedge derivatives (1,126 ) (333 ) (793 ) 2,365 699 1,666 Total $ 745 $ 220 $ 525 $ (1,224 ) $ (362 ) $ (862 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ 3,527 $ (26,612 ) Cash flow hedge derivatives (4,360 ) 2,829 Total $ (833 ) $ (23,783 ) Nine months ended September 30, 2019 Nine months ended September 30, 2018 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 $ (17,765 ) $ (1,060 ) Cash flow hedge derivatives (241 ) (1,451 ) Total $ (18,006 ) $ (2,511 ) 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 gains/(losses) arising during the period Securities available-for-sale $ 30,119 $ 8,903 $ 21,216 $ (23,854 ) $ (7,051 ) $ (16,803 ) Cash flow hedge derivatives (5,848 ) (1,729 ) (4,119 ) 6,523 1,928 4,595 Total $ 24,271 $ 7,174 $ 17,097 $ (17,331 ) $ (5,123 ) $ (12,208 ) Reclassification adjustment for net losses in net income Securities available-for-sale 108 32 76 14 4 10 Cash flow hedge derivatives — — — — — — Total 108 32 76 14 4 10 Total other comprehensive income/(loss) Securities available-for-sale $ 30,227 $ 8,935 $ 21,292 $ (23,840 ) $ (7,047 ) $ (16,793 ) Cash flow hedge derivatives (5,848 ) (1,729 ) (4,119 ) 6,523 1,928 4,595 Total $ 24,379 $ 7,206 $ 17,173 $ (17,317 ) $ (5,119 ) $ (12,198 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ 3,527 $ (26,612 ) Cash flow hedge derivatives (4,360 ) 2,829 Total $ (833 ) $ (23,783 ) ( 1 These amounts were recorded as of January 1, 2018 2018 2. ( 2 This amount was recorded as of January 1, 2018 2016 1. |
Note 20 - Stock Repurchase Prog
Note 20 - Stock Repurchase Program | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 20. In May 2019, October 2018 Thereafter, on May 7, 2019, September 30, 2019, may May 2019 |
Note 21 - Subsequent Events
Note 21 - Subsequent Events | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 21. The Company has evaluated the effect of events that have occurred subsequent to September 30, 2019, no |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended September 30, Nine months ended September 30, 2019 2018 2019 2018 (In thousands, except share and per share data) Net income $ 72,835 $ 69,757 $ 211,758 $ 207,237 Weighted-average shares: Basic weighted-average number of common shares outstanding 79,736,814 81,311,899 80,096,855 81,224,555 Dilutive effect of weighted-average outstanding common share equivalents Warrants — 234,105 — 268,988 RSUs 257,016 309,267 233,761 277,331 Diluted weighted-average number of common shares outstanding 79,993,830 81,855,271 80,330,616 81,770,874 Average stock options and restricted stock units with anti-dilutive effect 32,321 1,854 47,690 15,625 Earnings per common share: Basic $ 0.91 $ 0.86 $ 2.64 $ 2.55 Diluted $ 0.91 $ 0.85 $ 2.64 $ 2.53 |
Note 6 - Stock-based Compensa_2
Note 6 - Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Time-Based RSUs Performance-Based RSUs Weighted-Average Weighted-Average Grant Date Grant Date Shares Fair Value Shares Fair Value Balance at December 31, 2018 284,493 $ 35.79 265,659 $ 32.90 Granted 108,925 36.37 124,586 36.37 Vested (92,868 ) 35.12 (92,501 ) 38.36 Forfeited (17,002 ) 38.42 — — Balance at September 30, 2019 283,548 $ 36.08 297,744 $ 32.65 |
Note 7 - Investment Securities
Note 7 - Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | September 30, 2019 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. government agency entities $ 92,477 $ 750 $ 273 $ 92,954 U.S. government sponsored entities 350,000 — 2,301 347,699 Mortgage-backed securities 880,406 7,714 1,385 886,735 Collateralized mortgage obligations 683 — 18 665 Corporate debt securities 98,865 533 13 99,385 Total $ 1,422,431 $ 8,997 $ 3,990 $ 1,427,438 December 31, 2018 Gross Gross Amortized Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Securities Available-for-Sale U.S. treasury securities $ 124,801 $ — $ 50 $ 124,751 U.S. government agency entities 6,066 — 195 5,871 U.S. government sponsored entities 400,000 — 11,638 388,362 Mortgage-backed securities 670,874 960 15,089 656,745 Collateralized mortgage obligations 1,005 — 28 977 Corporate debt securities 64,985 818 — 65,803 Total $ 1,267,731 $ 1,778 $ 27,000 $ 1,242,509 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2019 Securities Available-For-Sale Amortized Cost Fair Value (In thousands) Due in one year or less $ 19,993 $ 20,103 Due after one year through five years 429,449 427,578 Due after five years through ten years 41,718 41,710 Due after ten years 931,271 938,047 Total $ 1,422,431 $ 1,427,438 |
Schedule of Unrealized Loss on Investments [Table Text Block] | September 30, 2019 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. government agency entities $ 49,796 $ 108 $ 3,748 $ 165 $ 53,544 $ 273 U.S. government sponsored entities — — 347,699 2,301 347,699 2,301 Mortgage-backed securities 115,727 220 146,666 1,165 262,393 1,385 Collateralized mortgage obligations — — 665 18 665 18 Corporate debt securities 28,819 13 — — 28,819 13 Total $ 194,342 $ 341 $ 498,778 $ 3,649 $ 693,120 $ 3,990 December 31, 2018 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (In thousands) Securities Available-for-Sale U.S. treasury securities $ 124,751 $ 50 $ — $ — $ 124,751 $ 50 U.S. government agency entities 3,388 77 2,483 118 5,871 195 U.S. government sponsored entities — — 388,362 11,638 388,362 11,638 Mortgage-backed securities 48,528 502 507,701 14,587 556,229 15,089 Collateralized mortgage obligations — — 977 28 977 28 Total $ 176,667 $ 629 $ 899,523 $ 26,371 $ 1,076,190 $ 27,000 |
Note 8 - Loans (Tables)
Note 8 - Loans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2019 December 31, 2018 (In thousands) Commercial loans $ 2,668,061 $ 2,741,965 Residential mortgage loans 4,010,739 3,693,853 Commercial mortgage loans 7,135,599 6,724,200 Equity lines 315,252 249,967 Real estate construction loans 593,816 581,454 Installment and other loans 5,087 4,349 Gross loans $ 14,728,554 $ 13,995,788 Allowance for loan losses (125,908 ) (122,391 ) Unamortized deferred loan fees, net (1,081 ) (1,565 ) Total loans, net $ 14,601,565 $ 13,871,832 Loans held for sale $ 36,778 $ — |
Impaired Financing Receivables [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Commercial loans $ 38,659 $ 208 $ 48,772 $ 461 $ 41,132 $ 705 $ 46,920 $ 1,152 Real estate construction loans 4,662 — 5,980 — 4,734 — 7,490 — Commercial mortgage loans 40,699 332 55,375 576 51,323 1,034 59,314 1,757 Residential mortgage loans and equity lines 13,133 78 13,724 108 13,126 237 14,032 279 Total impaired loans $ 97,153 $ 618 $ 123,851 $ 1,145 $ 110,315 $ 1,976 $ 127,756 $ 3,188 |
Schedule Of Impaired Loans And Related Allowance And Charge Off [Table Text Block] | September 30, 2019 December 31, 2018 Unpaid Principal Balance Recorded Investment Allowance Unpaid Principal Balance Recorded Investment Allowance (In thousands) With no allocated allowance Commercial loans $ 24,711 $ 20,492 $ — $ 32,015 $ 30,368 $ — Real estate construction loans 5,776 4,629 — 5,776 4,873 — Commercial mortgage loans 11,663 11,517 — 34,129 24,409 — Residential mortgage loans and equity lines 6,808 6,770 — 5,685 5,665 — Subtotal $ 48,958 $ 43,408 $ — $ 77,605 $ 65,315 $ — With allocated allowance Commercial loans $ 13,251 $ 13,234 $ 744 $ 6,653 $ 6,570 $ 1,837 Commercial mortgage loans 26,356 26,288 536 27,099 27,063 877 Residential mortgage loans and equity lines 7,011 5,917 221 8,934 7,938 1,088 Subtotal $ 46,618 $ 45,439 $ 1,501 $ 42,686 $ 41,571 $ 3,802 Total impaired loans $ 95,576 $ 88,847 $ 1,501 $ 120,291 $ 106,886 $ 3,802 |
Financing Receivable, Past Due [Table Text Block] | September 30, 2019 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 (In thousands) Commercial loans $ 29,905 $ 8,736 $ — $ 22,970 $ 61,611 $ 2,606,450 $ 2,668,061 Real estate construction loans — — — 4,629 4,629 589,187 593,816 Commercial mortgage loans 2,926 3,687 683 12,330 19,626 7,115,973 7,135,599 Residential mortgage loans and equity lines 286 — — 7,271 7,557 4,318,434 4,325,991 Installment and other loans — — — — — 5,087 5,087 Total loans $ 33,117 $ 12,423 $ 683 $ 47,200 $ 93,423 $ 14,635,131 $ 14,728,554 December 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 (In thousands) Commercial loans $ 25,494 $ 2,454 $ 514 $ 18,805 $ 47,267 $ 2,694,698 $ 2,741,965 Real estate construction loans — 3,156 — 4,872 8,028 573,426 581,454 Commercial mortgage loans 10,797 8,545 3,259 10,611 33,212 6,690,988 6,724,200 Residential mortgage loans and equity lines 9,687 336 — 7,527 17,550 3,926,270 3,943,820 Installment and other loans — — — — — 4,349 4,349 Total loans $ 45,978 $ 14,491 $ 3,773 $ 41,815 $ 106,057 $ 13,889,731 $ 13,995,788 |
Schedule Of Troubled Debt Restructurings [Table Text Block] | Three Months Ended September 30, 2019 September 30, 2019 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 3 $ 7,585 $ 6,165 $ — $ 89 Total 3 $ 7,585 $ 6,165 $ — $ 89 Three Months Ended September 30, 2018 September 30, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 3 $ 4,621 $ 4,621 $ — $ 2,467 Commercial mortgage loans 1 339 339 — — Residential mortgage loans and equity lines 2 413 413 — 16 Total 6 $ 5,373 $ 5,373 $ — $ 2,483 Nine Months Ended September 30, 2019 September 30, 2019 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 23 $ 25,937 $ 10,814 $ — $ 125 Total 23 $ 25,937 $ 10,814 $ — $ 125 Nine Months Ended September 30, 2018 September 30, 2018 No. of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Charge-offs Specific Reserve (In thousands) Commercial loans 21 $ 12,212 $ 12,212 $ — $ 2,493 Commercial mortgage loans 7 14,626 14,626 — 119 Residential mortgage loans and equity lines 4 1,213 1,213 — 24 Total 32 $ 28,051 $ 28,051 $ — $ 2,636 |
Financing Receivable, Troubled Debt Restructuring [Table Text Block] | September 30, 2019 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 10,756 $ — $ — $ 10,756 Commercial mortgage loans 782 5,757 18,936 25,475 Residential mortgage loans 2,931 319 2,166 5,416 Total accruing TDRs $ 14,469 $ 6,076 $ 21,102 $ 41,647 December 31, 2018 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Accruing TDRs Commercial loans $ 18,135 $ — $ — $ 18,135 Commercial mortgage loans 14,022 7,420 19,418 40,860 Residential mortgage loans 3,353 327 2,396 6,076 Total accruing TDRs $ 35,510 $ 7,747 $ 21,814 $ 65,071 |
Non Accrual Troubled Debt Restructurings [Table Text Block] | September 30, 2019 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 18,057 $ — $ — $ 18,057 Residential mortgage loans 1,629 — 101 1,730 Total non-accrual TDRs $ 19,686 $ — $ 101 $ 19,787 December 31, 2018 Payment Deferral Rate Reduction Rate Reduction and Payment Deferral Total (In thousands) Non-accrual TDRs Commercial loans $ 13,771 $ — $ — $ 13,771 Commercial mortgage loans 3,682 — 4,884 8,566 Residential mortgage loans 1,741 — 111 1,852 Total non-accrual TDRs $ 19,194 $ — $ 4,995 $ 24,189 |
Activity Within The Troubled Debt Resturings [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Accruing TDRs Beginning balance $ 64,898 $ 84,487 $ 65,071 $ 68,566 New restructurings 240 2,589 15,432 25,036 Restructured loans restored to accrual status — 577 — 2,895 Charge-offs (1,341 ) — (1,341 ) — Payments (22,150 ) (13,055 ) (36,219 ) (19,801 ) Restructured loans placed on non-accrual status — — (1,296 ) (2,098 ) Ending balance $ 41,647 $ 74,598 $ 41,647 $ 74,598 Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 (In thousands) Non-accrual TDRs Beginning balance $ 22,457 $ 30,347 $ 24,189 $ 33,415 New restructurings 7,345 2,784 10,505 3,015 Restructured loans placed on non-accrual status — — 1,296 2,098 Charge-offs (2,389 ) — (3,607 ) (161 ) Payments (7,626 ) (4,836 ) (12,596 ) (7,754 ) Restructured loans restored to accrual status — (577 ) — (2,895 ) Ending balance $ 19,787 $ 27,718 $ 19,787 $ 27,718 |
Financing Receivable Credit Quality Indicators [Table Text Block] | September 30, 2019 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,432,623 $ 151,265 $ 84,173 $ — $ 2,668,061 Real estate construction loans 514,725 74,462 4,629 — 593,816 Commercial mortgage loans 6,824,241 233,155 78,203 — 7,135,599 Residential mortgage loans and equity lines 4,317,793 927 7,271 — 4,325,991 Installment and other loans 5,087 — — — 5,087 Total gross loans $ 14,094,469 $ 459,809 $ 174,276 $ — $ 14,728,554 December 31, 2018 Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Commercial loans $ 2,603,901 $ 87,987 $ 50,077 $ — $ 2,741,965 Real estate construction loans 514,406 62,175 4,873 — 581,454 Commercial mortgage loans 6,337,368 304,791 82,041 — 6,724,200 Residential mortgage loans and equity lines 3,934,762 — 9,058 — 3,943,820 Installment and other loans 4,349 — — — 4,349 Total gross loans $ 13,394,786 $ 454,953 $ 146,049 $ — $ 13,995,788 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) June 30, 2019 Ending Balance $ 54,293 $ 21,010 $ 33,154 $ 14,164 $ 30 $ 122,651 Provision/(reversal) for possible credit losses 7,400 (2,690 ) (4,648 ) (2,057 ) (5 ) (2,000 ) Charge-offs (3,356 ) — — — — (3,356 ) Recoveries 212 3,378 4,961 62 — 8,613 Net (charge-offs)/recoveries (3,144 ) 3,378 4,961 62 — 5,257 September 30, 2019 Ending Balance $ 58,549 $ 21,698 $ 33,467 $ 12,169 $ 25 $ 125,908 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) June 30, 2018 Ending Balance $ 55,179 $ 20,663 $ 33,976 $ 12,062 $ 19 $ 121,899 Provision/(reversal) for possible credit losses 1,270 519 (4,138 ) 842 7 (1,500 ) Charge-offs (122 ) — — — — (122 ) Recoveries 187 44 2,944 5 — 3,180 Net recoveries 65 44 2,944 5 — 3,058 September 30, 2018 Ending Balance $ 56,514 $ 21,226 $ 32,782 $ 12,909 $ 26 $ 123,457 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2019 Beginning Balance $ 54,978 $ 19,626 $ 33,487 $ 14,282 $ 18 $ 122,391 Provision/(reversal) for possible credit losses 8,262 (2,540 ) (5,234 ) (2,495 ) 7 (2,000 ) Charge-offs (6,300 ) — — — — (6,300 ) Recoveries 1,609 4,612 5,214 382 — 11,817 Net (charge-offs)/recoveries (4,691 ) 4,612 5,214 382 — 5,517 September 30, 2019 Ending Balance $ 58,549 $ 21,698 $ 33,467 $ 12,169 $ 25 $ 125,908 Reserve for impaired loans $ 744 $ — $ 536 $ 221 $ — $ 1,501 Reserve for non-impaired loans $ 57,805 $ 21,698 $ 32,931 $ 11,948 $ 25 $ 124,407 Reserve for off-balance sheet credit commitments $ 2,505 $ 1,608 $ 121 $ 313 $ 3 $ 4,550 Residential Real Estate Commercial Mortgage Loans Installment Commercial Construction Mortgage and and Other Loans Loans Loans Equity Lines Loans Total (In thousands) 2018 Beginning Balance $ 49,796 $ 24,838 $ 37,610 $ 11,013 $ 22 $ 123,279 Provision/(reversal) for possible credit losses 6,097 (3,744 ) (8,672 ) 1,815 4 (4,500 ) Charge-offs (629 ) — (390 ) — — (1,019 ) Recoveries 1,250 132 4,234 81 — 5,697 Net recoveries 621 132 3,844 81 — 4,678 September 30, 2018 Ending Balance $ 56,514 $ 21,226 $ 32,782 $ 12,909 $ 26 $ 123,457 Reserve for impaired loans $ 2,506 $ — $ 917 $ 281 $ — $ 3,704 Reserve for non-impaired loans $ 54,008 $ 21,226 $ 31,865 $ 12,628 $ 26 $ 119,753 Reserve for off-balance sheet credit commitments $ 1,615 $ 1,174 $ 78 $ 215 $ 6 $ 3,088 |
Impairment Method [Member] | |
Notes Tables | |
Impaired Financing Receivables [Table Text Block] | September 30, 2019 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 744 $ — $ 536 $ 221 $ — $ 1,501 Balance $ 33,726 $ 4,629 $ 37,805 $ 12,687 $ — $ 88,847 Loans collectively evaluated for impairment Allowance $ 57,805 $ 21,698 $ 32,931 $ 11,948 $ 25 $ 124,407 Balance $ 2,634,335 $ 589,187 $ 7,097,794 $ 4,313,304 $ 5,087 $ 14,639,707 Total allowance $ 58,549 $ 21,698 $ 33,467 $ 12,169 $ 25 $ 125,908 Total balance $ 2,668,061 $ 593,816 $ 7,135,599 $ 4,325,991 $ 5,087 $ 14,728,554 December 31, 2018 Real Estate Commercial Residential Installment Commercial Construction Mortgage Mortgage Loans and Loans Loans Loans and Equity Lines Other Loans Total (In thousands) Loans individually evaluated for impairment Allowance $ 1,837 $ — $ 877 $ 1,088 $ — $ 3,802 Balance $ 36,940 $ 4,873 $ 51,471 $ 13,602 $ — $ 106,886 Loans collectively evaluated for impairment Allowance $ 53,141 $ 19,626 $ 32,610 $ 13,194 $ 18 $ 118,589 Balance $ 2,705,025 $ 576,581 $ 6,672,729 $ 3,930,218 $ 4,349 $ 13,888,902 Total allowance $ 54,978 $ 19,626 $ 33,487 $ 14,282 $ 18 $ 122,391 Total balance $ 2,741,965 $ 581,454 $ 6,724,200 $ 3,943,820 $ 4,349 $ 13,995,788 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | As of September 30, 2019 Operating Leases (In thousands) Remaining 2019 $ 2,114 2020 8,543 2021 7,635 2022 6,428 2023 5,426 Thereafter 9,531 Total lease payments 39,677 Less amount of payment representing interest (3,535 ) Total present value of lease payments $ 36,142 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | As of December 31, 2018 Operating Leases (In thousands) 2019 $ 8,835 2020 7,220 2021 6,406 2022 5,406 2023 4,208 Thereafter 4,899 Total minimum lease payments $ 36,974 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | September 30, 2019 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. government agency entities $ — $ 92,954 $ — $ 92,954 U.S. government sponsored entities — 347,699 — 347,699 Mortgage-backed securities — 886,735 — 886,735 Collateralized mortgage obligations — 665 — 665 Corporate debt securities — 99,385 — 99,385 Total securities available-for-sale $ — $ 1,427,438 $ — $ 1,427,438 Equity securities Mutual funds $ 6,307 $ — $ — $ 6,307 Preferred stock of government sponsored entities 15,145 — — 15,145 Other equity securities 11,410 — — 11,410 Total equity securities $ 32,862 $ — $ — $ 32,862 Warrants $ — $ — $ 31 $ 31 Interest rate swaps — 1,697 — 1,697 Foreign exchange contracts — 965 — 965 Total assets $ 32,862 $ 1,430,100 $ 31 $ 1,462,993 Liabilities Option contracts $ — $ 6 $ — $ 6 Interest rate swaps — 17,734 — 17,734 Foreign exchange contracts — 2,435 — 2,435 Total liabilities $ — $ 20,175 $ — $ 20,175 December 31, 2018 Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Measurements (In thousands) Assets Securities available-for-sale U.S. Treasury securities $ 124,751 $ — $ — $ 124,751 U.S. government agency entities — 5,871 — 5,871 U.S. government sponsored entities — 388,363 — 388,363 Mortgage-backed securities — 656,744 — 656,744 Collateralized mortgage obligations — 977 — 977 Corporate debt securities — 65,803 — 65,803 Total securities available-for-sale $ 124,751 $ 1,117,758 $ — $ 1,242,509 Equity securities Mutual funds $ 6,094 $ — $ — $ 6,094 Preferred stock of government sponsored entities 7,822 — — 7,822 Other equity securities 11,182 — — 11,182 Total equity securities $ 25,098 $ — $ — $ 25,098 Warrants $ — $ — $ 184 $ 184 Interest rate swaps — 7,810 — 7,810 Foreign exchange contracts — 397 — 397 Total assets $ 149,849 $ 1,125,965 $ 184 $ 1,275,998 Liabilities Option contracts $ — $ 6 $ — $ 6 Interest rate swaps — 1,543 — 1,543 Foreign exchange contracts — 1,763 — 1,763 Total liabilities $ — $ 3,312 $ — $ 3,312 |
Fair Value Measurements, Nonrecurring [Table Text Block] | As of September 30, 2019 Total Losses Fair Value Measurements Using Total Fair For the Three Months Ended For the Nine Months Ended Level 1 Level 2 Level 3 Value Measurements September 30, 2019 September 30, 2018 September 30, 2019 September 30, 2018 (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 12,491 $ 12,491 $ — $ — $ — $ — Commercial mortgage loans — — 25,752 25,752 — — — — Residential mortgage loans and equity lines — — 5,696 5,696 — — — — Total impaired loans — — 43,939 43,939 — — — — Loans held-for-sale — — 36,778 36,778 120 — 120 — Other real estate owned (1) — 7,625 4,343 11,968 — — 494 — Investments in venture capital and private company stock — — 1,671 1,671 83 62 101 326 Total assets $ — $ 7,625 $ 86,731 $ 94,356 $ 203 $ 62 $ 715 $ 326 As of December 31, 2018 Total Losses/(Gains) Fair Value Measurements Using Total Fair Value For the Twelve Months Ended Level 1 Level 2 Level 3 Measurements December 31, 2018 December 31, 2017 (In thousands) Assets Impaired loans by type: Commercial loans $ — $ — $ 4,733 $ 4,733 $ — $ 25 Commercial mortgage loans — — 26,186 26,186 — — Residential mortgage loans and equity lines — — 6,850 6,850 — — Total impaired loans — — 37,769 37,769 — 25 Other real estate owned (1) — 9,023 4,343 13,366 (619 ) 457 Investments in venture capital and private company stock — — 2,162 2,162 330 392 Total assets $ — $ 9,023 $ 44,274 $ 53,297 $ (289 ) $ 874 |
Note 14 - Fair Value of Finan_2
Note 14 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | September 30, 2019 December 31, 2018 Carrying Carrying Amount Fair Value Amount Fair Value (In thousands) Financial Assets Cash and due from banks $ 257,189 $ 257,189 $ 225,333 $ 225,333 Short-term investments 567,957 567,957 374,957 374,957 Securities available-for-sale 1,427,438 1,427,438 1,242,509 1,242,509 Loans held-for-sale 36,778 36,778 — — Loans, net 14,601,565 15,004,114 13,871,832 13,928,162 Equity securities 32,862 32,862 25,098 25,098 Investment in Federal Home Loan Bank stock 17,250 17,250 17,250 17,250 Warrants 31 31 184 184 Notional Notional Amount Fair Value Amount Fair Value Foreign exchange contracts $ 70,955 $ 965 $ 86,875 $ 397 Interest rate swaps 139,466 1,697 467,410 7,810 Carrying Carrying Amount Fair Value Amount Fair Value Financial Liabilities Deposits $ 14,658,269 $ 14,703,977 $ 13,702,340 $ 13,754,028 Advances from Federal Home Loan Bank 600,000 603,014 530,000 529,500 Other borrowings 38,369 31,844 35,756 34,031 Long-term debt 160,386 113,409 189,448 132,615 Notional Notional Amount Fair Value Amount Fair Value Option contracts $ 1,172 $ 6 $ 1,215 $ 6 Foreign exchange contracts 121,769 2,435 94,977 1,763 Interest rate swaps 581,496 17,734 265,166 1,543 Notional Notional Amount Fair Value Amount Fair Value Off-Balance Sheet Financial Instruments Commitments to extend credit $ 3,097,207 $ (9,291 ) $ 2,691,579 $ (8,843 ) Standby letters of credit 264,059 (2,537 ) 245,087 (2,662 ) Other letters of credit 29,230 (28 ) 35,759 (30 ) Bill of lading guarantees 743 — 730 — |
Schedule Of Fair Value Of Financial Instruments [Table Text Block] | As of September 30, 2019 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 257,189 $ 257,189 $ — $ — Short-term investments 567,957 567,957 — — Securities available-for-sale 1,427,438 — 1,427,438 — Loans held-for-sale 36,778 — — 36,778 Loans, net 15,004,114 — — 15,004,114 Equity securities 32,862 32,862 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 31 — — 31 Financial Liabilities Deposits 14,703,977 — — 14,703,977 Advances from Federal Home Loan Bank 603,014 — 603,014 — Other borrowings 31,844 — — 31,844 Long-term debt 113,409 — 113,409 — As of December 31, 2018 Estimated Fair Value Measurements Level 1 Level 2 Level 3 (In thousands) Financial Assets Cash and due from banks $ 225,333 $ 225,333 $ — $ — Short-term investments 374,957 374,957 — — Securities available-for-sale 1,242,509 124,751 1,117,758 — Loans, net 13,928,162 — — 13,928,162 Equity securities 25,098 25,098 — — Investment in Federal Home Loan Bank stock 17,250 — 17,250 — Warrants 184 — — 184 Financial Liabilities Deposits 13,754,028 — — 13,754,028 Advances from Federal Home Loan Bank 529,500 — 529,500 — Other borrowings 34,031 — — 34,031 Long-term debt 132,615 — 132,615 — |
Note 17 - Balance Sheet Offse_2
Note 17 - Balance Sheet Offsetting (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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) September 30, 2019 Assets: Derivatives $ 1,697 $ — $ 1,697 $ — $ — $ 1,697 Liabilities: Derivatives $ 17,734 $ — $ 17,734 $ — $ (22,198 ) $ (4,464 ) December 31, 2018 Assets: Derivatives $ 7,810 $ — $ 7,810 $ — $ — $ 7,810 Liabilities: Derivatives $ 1,543 $ — $ 1,543 $ — $ (1,543 ) $ — |
Note 18 - Revenue From Contra_2
Note 18 - Revenue From Contracts With Customers (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three months Ended September 30, Nine months Ended September 30, 2019 2018 2019 2018 (In thousands) Non-interest income, in-scope: Fees and service charges on deposit accounts $ 1,892 $ 2,027 $ 5,940 $ 6,421 Wealth management fees 2,049 1,528 6,258 4,252 Other service fees (1) 3,645 3,376 10,593 10,140 Total noninterest income 7,586 6,931 22,791 20,813 Noninterest income, not in-scope (2) 2,802 904 13,312 99 Total noninterest income $ 10,388 $ 7,835 $ 36,103 $ 20,912 |
Note 19 - Stockholders' Equity
Note 19 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three months ended September 30, 2019 Three months ended September 30, 2018 Pre-tax Tax expense/ (benefit) Net-of-tax Pre-tax Tax expense/ (benefit) Net-of-tax (In thousands) Beginning balance, gain/(loss), net of tax Securities available-for-sale $ 2,209 $ (24,084 ) Cash flow hedge derivatives (3,567 ) 1,163 Total $ (1,358 ) $ (22,921 ) Net unrealized gains/(losses) arising during the period Securities available-for-sale $ 1,750 $ 517 $ 1,233 $ (3,603 ) $ (1,065 ) $ (2,538 ) Cash flow hedge derivatives (1,126 ) (333 ) (793 ) 2,365 699 1,666 Total $ 624 $ 184 $ 440 $ (1,238 ) $ (366 ) $ (872 ) Reclassification adjustment for net losses in net income Securities available-for-sale 121 36 85 14 4 10 Cash flow hedge derivatives — — — — — — Total 121 36 85 14 4 10 Total other comprehensive income/(loss) Securities available-for-sale $ 1,871 $ 553 $ 1,318 $ (3,589 ) $ (1,061 ) $ (2,528 ) Cash flow hedge derivatives (1,126 ) (333 ) (793 ) 2,365 699 1,666 Total $ 745 $ 220 $ 525 $ (1,224 ) $ (362 ) $ (862 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ 3,527 $ (26,612 ) Cash flow hedge derivatives (4,360 ) 2,829 Total $ (833 ) $ (23,783 ) Nine months ended September 30, 2019 Nine months ended September 30, 2018 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 $ (17,765 ) $ (1,060 ) Cash flow hedge derivatives (241 ) (1,451 ) Total $ (18,006 ) $ (2,511 ) 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 gains/(losses) arising during the period Securities available-for-sale $ 30,119 $ 8,903 $ 21,216 $ (23,854 ) $ (7,051 ) $ (16,803 ) Cash flow hedge derivatives (5,848 ) (1,729 ) (4,119 ) 6,523 1,928 4,595 Total $ 24,271 $ 7,174 $ 17,097 $ (17,331 ) $ (5,123 ) $ (12,208 ) Reclassification adjustment for net losses in net income Securities available-for-sale 108 32 76 14 4 10 Cash flow hedge derivatives — — — — — — Total 108 32 76 14 4 10 Total other comprehensive income/(loss) Securities available-for-sale $ 30,227 $ 8,935 $ 21,292 $ (23,840 ) $ (7,047 ) $ (16,793 ) Cash flow hedge derivatives (5,848 ) (1,729 ) (4,119 ) 6,523 1,928 4,595 Total $ 24,379 $ 7,206 $ 17,173 $ (17,317 ) $ (5,119 ) $ (12,198 ) Ending balance, gain/(loss), net of tax Securities available-for-sale $ 3,527 $ (26,612 ) Cash flow hedge derivatives (4,360 ) 2,829 Total $ (833 ) $ (23,783 ) |
Note 1 - Business (Details Text
Note 1 - Business (Details Textual) | Sep. 30, 2019 |
Number Of Limited Partnerships In Housing Investments | 10 |
Percentage of Subsidiaries Common Securities Owned by Parent Company | 100.00% |
Southern California [Member] | |
Number Of Branch Locations | 25 |
Northern California [Member] | |
Number Of Branch Locations | 13 |
NEW YORK | |
Number Of Branch Locations | 10 |
WASHINGTON | |
Number Of Branch Locations | 4 |
ILLINOIS | |
Number Of Branch Locations | 3 |
TEXAS | |
Number Of Branch Locations | 2 |
NEVADA | |
Number Of Branch Locations | 1 |
MASSACHUSETTS | |
Number Of Branch Locations | 1 |
MARYLAND | |
Number Of Branch Locations | 1 |
NEW JERSEY | |
Number Of Branch Locations | 1 |
HONG KONG | |
Number Of Branch Locations | 1 |
Note 3 - Recent Accounting Pr_2
Note 3 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating Lease, Liability, Total | $ 36,142 | $ 0 | |
Operating Lease, Right-of-Use Asset | $ 34,518 | $ 0 | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Liability, Total | $ 41,200 | ||
Operating Lease, Right-of-Use Asset | $ 40,600 |
Note 4 - Cash, Cash Equivalen_2
Note 4 - Cash, Cash Equivalents and Restricted Cash (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Jan. 01, 2018 | |
Average Reserve Balances Required to be Maintained with Federal Bank | $ 144 | $ 5,400 | ||
Margin Deposit Assets | 9,100 | 1,800 | ||
Restricted Cash, Total | 27,400 | $ 7,800 | ||
Payments for (Proceeds from) Short-term Investments, Total | 0 | $ (5,000) | ||
Net Cash Provided by (Used in) Investing Activities, Total | $ (999,659) | (801,148) | ||
Previously Reported [Member] | ||||
Payments for (Proceeds from) Short-term Investments, Total | 0 | |||
Net Cash Provided by (Used in) Investing Activities, Total | 806,100 | |||
Cash and Cash Equivalents, Period Increase (Decrease), Total | $ 42,200 | |||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 539,800 |
Note 5 - Earnings Per Share - E
Note 5 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Net income | $ 72,835 | $ 69,757 | $ 211,758 | $ 207,237 |
Weighted-average shares: | ||||
Basic weighted-average number of common shares outstanding (in shares) | 79,736,814 | 81,311,899 | 80,096,855 | 81,224,555 |
Diluted (in shares) | 79,993,830 | 81,855,271 | 80,330,616 | 81,770,874 |
Average stock options and restricted stock units with anti-dilutive effect (in shares) | 32,321 | 1,854 | 47,690 | 15,625 |
Basic (in dollars per share) | $ 0.91 | $ 0.86 | $ 2.64 | $ 2.55 |
Diluted (in dollars per share) | $ 0.91 | $ 0.85 | $ 2.64 | $ 2.53 |
Warrant [Member] | ||||
Weighted-average shares: | ||||
Dilutive effect of weighted-average outstanding common share equivalents (in shares) | 0 | 234,105 | 0 | 268,988 |
Restricted Stock Units (RSUs) [Member] | ||||
Weighted-average shares: | ||||
Dilutive effect of weighted-average outstanding common share equivalents (in shares) | 257,016 | 309,267 | 233,761 | 277,331 |
Note 6 - Stock-based Compensa_3
Note 6 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 35,880 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 0 | 0 | ||
Proceeds from Stock Options Exercised | $ 0 | $ 838 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 23.37 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 718 | |||
Benefit (Shortfall) of Tax Deductions from Share-based Compensation | $ 600 | 800 | ||
2005 Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 2,389,185 | 2,389,185 | ||
Minimum [Member] | ||||
Performance-based Restricted Stock Units, Number of Shares That May Vest, Percentage of Target | 0.00% | 0.00% | ||
Maximum [Member] | ||||
Performance-based Restricted Stock Units, Number of Shares That May Vest, Percentage of Target | 150.00% | 150.00% | ||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Share-based Payment Arrangement, Expense | $ 1,800 | $ 1,900 | $ 4,800 | 5,300 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 11,500 | $ 11,800 | $ 11,500 | $ 11,800 |
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years | |||
Performance-based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years |
Note 6 - Stock-based Compensa_4
Note 6 - Stock-based Compensation - Restricted Stock Units (Details) | 9 Months Ended |
Sep. 30, 2019$ / sharesshares | |
Time-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 284,493 |
Balance (in dollars per share) | $ / shares | $ 35.79 |
Granted (in shares) | shares | 108,925 |
Granted (in dollars per share) | $ / shares | $ 36.37 |
Vested (in shares) | shares | (92,868) |
Vested (in dollars per share) | $ / shares | $ 35.12 |
Forfeited (in shares) | shares | (17,002) |
Forfeited (in dollars per share) | $ / shares | $ 38.42 |
Balance (in shares) | shares | 283,548 |
Balance (in dollars per share) | $ / shares | $ 36.08 |
Performance-based Restricted Stock Units [Member] | |
Balance (in shares) | shares | 265,659 |
Balance (in dollars per share) | $ / shares | $ 32.90 |
Granted (in shares) | shares | 124,586 |
Granted (in dollars per share) | $ / shares | $ 36.37 |
Vested (in shares) | shares | (92,501) |
Vested (in dollars per share) | $ / shares | $ 38.36 |
Forfeited (in shares) | shares | 0 |
Forfeited (in dollars per share) | $ / shares | $ 0 |
Balance (in shares) | shares | 297,744 |
Balance (in dollars per share) | $ / shares | $ 32.65 |
Note 7 - Investment Securitie_2
Note 7 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Jan. 01, 2018 | |
Equity Securities, FV-NI, Unrealized Gain (Loss), Total | $ 400 | $ 400 | $ 7,764 | $ (4,580) | ||
Equity Securities, FV-NI | 32,862 | 32,862 | $ 25,098 | |||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | 0 | $ 0 | ||||
Pledged Investment Securities | $ 20,800 | $ 20,800 | $ 28,500 | |||
Accounting Standards Update 2016-01 [Member] | Retained Earnings [Member] | ||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 8,600 |
Note 7 - Investment Securitie_3
Note 7 - Investment Securities - Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Investment securities available for sale, amortized cost | $ 1,422,431 | $ 1,267,731 |
Investment securities available for sale, gross unrealized gains | 8,997 | 1,778 |
Investment securities available for sale, gross unrealized losses | 3,990 | 27,000 |
Investment securities available for sale, Estimated fair value | 1,427,438 | 1,242,509 |
US Government Corporations and Agencies Securities [Member] | ||
Investment securities available for sale, amortized cost | 92,477 | 6,066 |
Investment securities available for sale, gross unrealized gains | 750 | 0 |
Investment securities available for sale, gross unrealized losses | 273 | 195 |
Investment securities available for sale, Estimated fair value | 92,954 | 5,871 |
US Treasury Securities [Member] | ||
Investment securities available for sale, amortized cost | 124,801 | |
Investment securities available for sale, gross unrealized gains | 0 | |
Investment securities available for sale, gross unrealized losses | 50 | |
Investment securities available for sale, Estimated fair value | 124,751 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 350,000 | 400,000 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | 2,301 | 11,638 |
Investment securities available for sale, Estimated fair value | 347,699 | 388,362 |
Collateralized Mortgage Backed Securities [Member] | ||
Investment securities available for sale, amortized cost | 880,406 | 670,874 |
Investment securities available for sale, gross unrealized gains | 7,714 | 960 |
Investment securities available for sale, gross unrealized losses | 1,385 | 15,089 |
Investment securities available for sale, Estimated fair value | 886,735 | 656,745 |
Collateralized Mortgage Obligations [Member] | ||
Investment securities available for sale, amortized cost | 683 | 1,005 |
Investment securities available for sale, gross unrealized gains | 0 | 0 |
Investment securities available for sale, gross unrealized losses | 18 | 28 |
Investment securities available for sale, Estimated fair value | 665 | 977 |
Corporate Debt Securities [Member] | ||
Investment securities available for sale, amortized cost | 98,865 | 64,985 |
Investment securities available for sale, gross unrealized gains | 533 | 818 |
Investment securities available for sale, gross unrealized losses | 13 | 0 |
Investment securities available for sale, Estimated fair value | $ 99,385 | $ 65,803 |
Note 7 - Investment Securitie_4
Note 7 - Investment Securities - Investments by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Due in one year or less, Amortized Cost | $ 19,993 | |
Due in one year or less, Fair Value | 20,103 | |
Due after one year through five years, Amortized Cost | 429,449 | |
Due after one year through five years, Fair Value | 427,578 | |
Due after five years through ten years, Amortized Cost | 41,718 | |
Due after five years through ten years, Fair Value | 41,710 | |
Due after ten years, Amortized Cost | 931,271 | |
Due after ten years, Fair Value | 938,047 | |
Total, Amortized Cost | 1,422,431 | $ 1,267,731 |
Total, Fair Value | $ 1,427,438 | $ 1,242,509 |
Note 7 - Investment Securitie_5
Note 7 - Investment Securities - Temporarily Impaired Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Temporarily impaired securities, less than 12 months, fair value | $ 194,342 | $ 176,667 |
Temporarily impaired securities, less than 12 months, unrealized losses | 341 | 629 |
Temporarily impaired securities, 12 months or longer, fair value | 498,778 | 899,523 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 3,649 | 26,371 |
Temporarily impaired securities, total fair value | 693,120 | 1,076,190 |
Temporarily impaired securities, total unrealized losses | 3,990 | 27,000 |
US Government Corporations and Agencies Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 49,796 | 3,388 |
Temporarily impaired securities, less than 12 months, unrealized losses | 108 | 77 |
Temporarily impaired securities, 12 months or longer, fair value | 3,748 | 2,483 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 165 | 118 |
Temporarily impaired securities, total fair value | 53,544 | 5,871 |
Temporarily impaired securities, total unrealized losses | 273 | 195 |
US Treasury Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 124,751 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 50 | |
Temporarily impaired securities, 12 months or longer, fair value | 0 | |
Temporarily impaired securities, 12 months or longer, unrealized losses | 0 | |
Temporarily impaired securities, total fair value | 124,751 | |
Temporarily impaired securities, total unrealized losses | 50 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 0 |
Temporarily impaired securities, less than 12 months, unrealized losses | 0 | 0 |
Temporarily impaired securities, 12 months or longer, fair value | 347,699 | 388,362 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 2,301 | 11,638 |
Temporarily impaired securities, total fair value | 347,699 | 388,362 |
Temporarily impaired securities, total unrealized losses | 2,301 | 11,638 |
Collateralized Mortgage Backed Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 115,727 | 48,528 |
Temporarily impaired securities, less than 12 months, unrealized losses | 220 | 502 |
Temporarily impaired securities, 12 months or longer, fair value | 146,666 | 507,701 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 1,165 | 14,587 |
Temporarily impaired securities, total fair value | 262,393 | 556,229 |
Temporarily impaired securities, total unrealized losses | 1,385 | 15,089 |
Collateralized Mortgage Obligations [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 0 | 0 |
Temporarily impaired securities, less than 12 months, unrealized losses | 0 | 0 |
Temporarily impaired securities, 12 months or longer, fair value | 665 | 977 |
Temporarily impaired securities, 12 months or longer, unrealized losses | 18 | 28 |
Temporarily impaired securities, total fair value | 665 | 977 |
Temporarily impaired securities, total unrealized losses | 18 | $ 28 |
Corporate Debt Securities [Member] | ||
Temporarily impaired securities, less than 12 months, fair value | 28,819 | |
Temporarily impaired securities, less than 12 months, unrealized losses | 13 | |
Temporarily impaired securities, 12 months or longer, fair value | 0 | |
Temporarily impaired securities, 12 months or longer, unrealized losses | 0 | |
Temporarily impaired securities, total fair value | 28,819 | |
Temporarily impaired securities, total unrealized losses | $ 13 |
Note 8 - Loans (Details Textual
Note 8 - Loans (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Dec. 31, 2018 | |
Impaired Financing Receivable, Recorded Investment, Total | $ 88,847 | $ 88,847 | $ 88,847 | $ 106,886 | ||
Percentage Of Charge Off To Contractual Balances For Impaired Loans | 1.90% | 1.90% | 1.90% | 9.30% | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ 0 | |||||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | 0 | |||
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Ending Balance | 36,778 | 36,778 | 36,778 | $ 0 | ||
Transfer of Portfolio Loans and Leases to Held-for-sale | 75,300 | $ 0 | 75,285 | $ 0 | ||
Gain (Loss) on Sales of Loans, Net, Total | 800 | 795 | $ 0 | |||
Increase (Decrease) in Loans Held-for-sale, Total | (120) | $ (120) | ||||
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 | 47,200 | $ 47,200 | 47,200 | 41,800 | ||
Accruing Troubled Debt Restructuring [Member] | ||||||
Impaired Financing Receivable, Recorded Investment, Total | 41,600 | 41,600 | 41,600 | 65,100 | ||
Financing Receivable, Troubled Debt Restructuring | 41,600 | 41,600 | 41,600 | 65,100 | ||
Troubled Debt Restructuring, Specific Reserves | 1,200 | 1,200 | 1,200 | 1,500 | ||
Non-accruing Troubled Debt Restructuring [Member] | ||||||
Financing Receivable, Troubled Debt Restructuring | 19,800 | 19,800 | 19,800 | 24,200 | ||
Troubled Debt Restructuring, Specific Reserves | $ 141 | $ 141 | $ 141 | $ 826 |
Note 8 - Loans - Components of
Note 8 - Loans - Components of Loans in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans | $ 14,728,554 | $ 13,995,788 |
Less: Allowance for loan losses | (125,908) | (122,391) |
Unamortized deferred loan fees, net | (1,081) | (1,565) |
Total loans, net | 14,601,565 | 13,871,832 |
Loans held for sale | 36,778 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans | 2,668,061 | 2,741,965 |
Less: Allowance for loan losses | (58,549) | (54,978) |
Residential Portfolio Segment [Member] | ||
Loans | 4,010,739 | 3,693,853 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 7,135,599 | 6,724,200 |
Less: Allowance for loan losses | (33,467) | (33,487) |
Equity Lines Portfolio Segment [Member] | ||
Loans | 315,252 | 249,967 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 593,816 | 581,454 |
Less: Allowance for loan losses | (21,698) | (19,626) |
Consumer Portfolio Segment [Member] | ||
Loans | 5,087 | 4,349 |
Less: Allowance for loan losses | $ (25) | $ (18) |
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 | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Average Recorded Investment | $ 97,153 | $ 123,851 | $ 110,315 | $ 127,756 |
Interest Income Recognized | 618 | 1,145 | 1,976 | 3,188 |
Commercial Portfolio Segment [Member] | ||||
Average Recorded Investment | 38,659 | 48,772 | 41,132 | 46,920 |
Interest Income Recognized | 208 | 461 | 705 | 1,152 |
Real Estate Construction Portfolio Segment [Member] | ||||
Average Recorded Investment | 4,662 | 5,980 | 4,734 | 7,490 |
Interest Income Recognized | 0 | 0 | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Average Recorded Investment | 40,699 | 55,375 | 51,323 | 59,314 |
Interest Income Recognized | 332 | 576 | 1,034 | 1,757 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
Average Recorded Investment | 13,133 | 13,724 | 13,126 | 14,032 |
Interest Income Recognized | $ 78 | $ 108 | $ 237 | $ 279 |
Note 8 - Loans - Impaired Loans
Note 8 - Loans - Impaired Loans and Related Allowance for Credit Losses (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans with no related allowance, unpaid principal balance | $ 48,958 | $ 77,605 |
Loans with no related allowance, recorded investment | 43,408 | 65,315 |
Loans with related allowance, unpaid principal balance | 46,618 | 42,686 |
Loans with related allowance, recorded investment | 45,439 | 41,571 |
Allowance | 1,501 | 3,802 |
Total impaired loans, unpaid principal balance | 95,576 | 120,291 |
Total impaired loans, recorded investment | 88,847 | 106,886 |
Commercial Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 24,711 | 32,015 |
Loans with no related allowance, recorded investment | 20,492 | 30,368 |
Loans with related allowance, unpaid principal balance | 13,251 | 6,653 |
Loans with related allowance, recorded investment | 13,234 | 6,570 |
Allowance | 744 | 1,837 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 5,776 | 5,776 |
Loans with no related allowance, recorded investment | 4,629 | 4,873 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 11,663 | 34,129 |
Loans with no related allowance, recorded investment | 11,517 | 24,409 |
Loans with related allowance, unpaid principal balance | 26,356 | 27,099 |
Loans with related allowance, recorded investment | 26,288 | 27,063 |
Allowance | 536 | 877 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans with no related allowance, unpaid principal balance | 6,808 | 5,685 |
Loans with no related allowance, recorded investment | 6,770 | 5,665 |
Loans with related allowance, unpaid principal balance | 7,011 | 8,934 |
Loans with related allowance, recorded investment | 5,917 | 7,938 |
Allowance | $ 221 | $ 1,088 |
Note 8 - Loans - Aging of Loan
Note 8 - Loans - Aging of Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans past due | $ 93,423 | $ 106,057 |
Non-accrual loans | 47,200 | 41,815 |
Loans not past due | 14,635,131 | 13,889,731 |
Loans | 14,728,554 | 13,995,788 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 33,117 | 45,978 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 12,423 | 14,491 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 683 | 3,773 |
Commercial Portfolio Segment [Member] | ||
Loans past due | 61,611 | 47,267 |
Non-accrual loans | 22,970 | 18,805 |
Loans not past due | 2,606,450 | 2,694,698 |
Loans | 2,668,061 | 2,741,965 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 29,905 | 25,494 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 8,736 | 2,454 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 514 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans past due | 4,629 | 8,028 |
Non-accrual loans | 4,629 | 4,872 |
Loans not past due | 589,187 | 573,426 |
Loans | 593,816 | 581,454 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 3,156 |
Real Estate Construction Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans past due | 19,626 | 33,212 |
Non-accrual loans | 12,330 | 10,611 |
Loans not past due | 7,115,973 | 6,690,988 |
Loans | 7,135,599 | 6,724,200 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 2,926 | 10,797 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 3,687 | 8,545 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 683 | 3,259 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans past due | 7,557 | 17,550 |
Non-accrual loans | 7,271 | 7,527 |
Loans not past due | 4,318,434 | 3,926,270 |
Loans | 4,325,991 | 3,943,820 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 286 | 9,687 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 336 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Installment and Other Loans [Member ] | ||
Loans past due | 0 | 0 |
Non-accrual loans | 0 | 0 |
Loans not past due | 5,087 | 4,349 |
Loans | 5,087 | 4,349 |
Installment and Other Loans [Member ] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Installment and Other Loans [Member ] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Loans past due | 0 | 0 |
Installment and Other Loans [Member ] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Loans past due | $ 0 | $ 0 |
Note 8 - Loans - Troubled Debt
Note 8 - Loans - Troubled Debt Restructuring (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2019USD ($) | Sep. 30, 2018USD ($) | |
No. of Contracts | 3 | 6 | 23 | 32 |
Pre-Modification Outstanding Recorded Investment | $ 7,585 | $ 5,373 | $ 25,937 | $ 28,051 |
Post-Modification Outstanding Recorded Investment | 6,165 | 5,373 | 10,814 | 28,051 |
Charge-offs | 0 | 0 | 0 | 0 |
Specific reserve | $ 89 | $ 2,483 | $ 125 | $ 2,636 |
Commercial Portfolio Segment [Member] | ||||
No. of Contracts | 3 | 3 | 23 | 21 |
Pre-Modification Outstanding Recorded Investment | $ 7,585 | $ 4,621 | $ 25,937 | $ 12,212 |
Post-Modification Outstanding Recorded Investment | 6,165 | 4,621 | 10,814 | 12,212 |
Charge-offs | 0 | 0 | 0 | 0 |
Specific reserve | $ 89 | $ 2,467 | $ 125 | $ 2,493 |
Commercial Real Estate Portfolio Segment [Member] | ||||
No. of Contracts | 1 | 7 | ||
Pre-Modification Outstanding Recorded Investment | $ 339 | $ 14,626 | ||
Post-Modification Outstanding Recorded Investment | 339 | 14,626 | ||
Charge-offs | 0 | 0 | ||
Specific reserve | $ 0 | $ 119 | ||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
No. of Contracts | 2 | 4 | ||
Pre-Modification Outstanding Recorded Investment | $ 413 | $ 1,213 | ||
Post-Modification Outstanding Recorded Investment | 413 | 1,213 | ||
Charge-offs | 0 | 0 | ||
Specific reserve | $ 16 | $ 24 |
Note 8 - Loans - Accruing Troub
Note 8 - Loans - Accruing Troubled Debt Restructurings (Details) - Accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Accruing TDRs | $ 41,647 | $ 64,898 | $ 65,071 | $ 74,598 | $ 84,487 | $ 68,566 |
Payment Deferral [Member] | ||||||
Accruing TDRs | 14,469 | 35,510 | ||||
Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 6,076 | 7,747 | ||||
Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 21,102 | 21,814 | ||||
Commercial Portfolio Segment [Member] | ||||||
Accruing TDRs | 10,756 | 18,135 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 10,756 | 18,135 | ||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accruing TDRs | 25,475 | 40,860 | ||||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 782 | 14,022 | ||||
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 5,757 | 7,420 | ||||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 18,936 | 19,418 | ||||
Residential Portfolio Segment [Member] | ||||||
Accruing TDRs | 5,416 | 6,076 | ||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 2,931 | 3,353 | ||||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 319 | 327 | ||||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | $ 2,166 | $ 2,396 |
Note 8 - Loans - Non-accrual Tr
Note 8 - Loans - Non-accrual Troubled Debt Restructurings (Details) - Non-accruing Troubled Debt Restructuring [Member] - USD ($) $ in Thousands | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Accruing TDRs | $ 19,787 | $ 22,457 | $ 24,189 | $ 27,718 | $ 30,347 | $ 33,415 |
Payment Deferral [Member] | ||||||
Accruing TDRs | 19,686 | 19,194 | ||||
Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 101 | 4,995 | ||||
Commercial Portfolio Segment [Member] | ||||||
Accruing TDRs | 18,057 | 13,771 | ||||
Commercial Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 18,057 | 13,771 | ||||
Commercial Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Commercial Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Residential Portfolio Segment [Member] | ||||||
Accruing TDRs | 1,730 | 1,852 | ||||
Residential Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 1,629 | 1,741 | ||||
Residential Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | 0 | ||||
Residential Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | $ 101 | 111 | ||||
Commercial Real Estate Portfolio Segment [Member] | ||||||
Accruing TDRs | 8,566 | |||||
Commercial Real Estate Portfolio Segment [Member] | Payment Deferral [Member] | ||||||
Accruing TDRs | 3,682 | |||||
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||||
Accruing TDRs | 0 | |||||
Commercial Real Estate Portfolio Segment [Member] | Rate Reduction and Payment Deferral [Member] | ||||||
Accruing TDRs | $ 4,884 |
Note 8 - Loans - Troubled Deb_2
Note 8 - Loans - Troubled Debt Restructuring Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Charge-offs | $ 0 | $ 0 | $ 0 | $ 0 |
Accruing Troubled Debt Restructuring [Member] | ||||
Beginning balance | 64,898 | 84,487 | 65,071 | 68,566 |
New restructurings | 240 | 2,589 | 15,432 | 25,036 |
Restructured loans restored to accrual status | 0 | 577 | 0 | 2,895 |
Charge-offs | (1,341) | 0 | (1,341) | 0 |
Payments | (22,150) | (13,055) | (36,219) | (19,801) |
Restructured loans placed on non-accrual status | 0 | 0 | (1,296) | (2,098) |
Ending balance | 41,647 | 74,598 | 41,647 | 74,598 |
Non-accruing Troubled Debt Restructuring [Member] | ||||
Beginning balance | 22,457 | 30,347 | 24,189 | 33,415 |
New restructurings | 7,345 | 2,784 | 10,505 | 3,015 |
Restructured loans restored to accrual status | 0 | (577) | 0 | (2,895) |
Charge-offs | (2,389) | 0 | (3,607) | (161) |
Payments | (7,626) | (4,836) | (12,596) | (7,754) |
Restructured loans placed on non-accrual status | 0 | 0 | 1,296 | 2,098 |
Ending balance | $ 19,787 | $ 27,718 | $ 19,787 | $ 27,718 |
Note 8 - Loans - Portfolio by R
Note 8 - Loans - Portfolio by Risk Rating (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans | $ 14,728,554 | $ 13,995,788 |
Commercial Portfolio Segment [Member] | ||
Loans | 2,668,061 | 2,741,965 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans | 593,816 | 581,454 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 7,135,599 | 6,724,200 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 4,325,991 | 3,943,820 |
Consumer Portfolio Segment [Member] | ||
Loans | 5,087 | 4,349 |
Pass [Member] | ||
Loans | 14,094,469 | 13,394,786 |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 2,432,623 | 2,603,901 |
Pass [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 514,725 | 514,406 |
Pass [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 6,824,241 | 6,337,368 |
Pass [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 4,317,793 | 3,934,762 |
Pass [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 5,087 | 4,349 |
Special Mention [Member] | ||
Loans | 459,809 | 454,953 |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 151,265 | 87,987 |
Special Mention [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 74,462 | 62,175 |
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 233,155 | 304,791 |
Special Mention [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 927 | 0 |
Special Mention [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Substandard [Member] | ||
Loans | 174,276 | 146,049 |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 84,173 | 50,077 |
Substandard [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 4,629 | 4,873 |
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 78,203 | 82,041 |
Substandard [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 7,271 | 9,058 |
Substandard [Member] | Consumer Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Real Estate Construction Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans | 0 | 0 |
Doubtful [Member] | Consumer Portfolio Segment [Member] | ||
Loans | $ 0 | $ 0 |
Note 8 - Loans - Allowance for
Note 8 - Loans - Allowance for Loan Losses by Portfolio Segment and Based on Impairment Method (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Loans individually evaluated for impairment, allowance | $ 1,501 | $ 3,802 |
Loans individually evaluated for impairment, balance | 88,847 | 106,886 |
Loans collectively evaluated for impairment, allowance | 124,407 | 118,589 |
Loans collectively evaluated for impairment, balance | 14,639,707 | 13,888,902 |
Loans, allowance | 125,908 | 122,391 |
Loans | 14,728,554 | 13,995,788 |
Commercial Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 744 | 1,837 |
Loans individually evaluated for impairment, balance | 33,726 | 36,940 |
Loans collectively evaluated for impairment, allowance | 57,805 | 53,141 |
Loans collectively evaluated for impairment, balance | 2,634,335 | 2,705,025 |
Loans, allowance | 58,549 | 54,978 |
Loans | 2,668,061 | 2,741,965 |
Real Estate Construction Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 0 | 0 |
Loans individually evaluated for impairment, balance | 4,629 | 4,873 |
Loans collectively evaluated for impairment, allowance | 21,698 | 19,626 |
Loans collectively evaluated for impairment, balance | 589,187 | 576,581 |
Loans, allowance | 21,698 | 19,626 |
Loans | 593,816 | 581,454 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 536 | 877 |
Loans individually evaluated for impairment, balance | 37,805 | 51,471 |
Loans collectively evaluated for impairment, allowance | 32,931 | 32,610 |
Loans collectively evaluated for impairment, balance | 7,097,794 | 6,672,729 |
Loans, allowance | 33,467 | 33,487 |
Loans | 7,135,599 | 6,724,200 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 221 | 1,088 |
Loans individually evaluated for impairment, balance | 12,687 | 13,602 |
Loans collectively evaluated for impairment, allowance | 11,948 | 13,194 |
Loans collectively evaluated for impairment, balance | 4,313,304 | 3,930,218 |
Loans, allowance | 12,169 | 14,282 |
Loans | 4,325,991 | 3,943,820 |
Consumer Portfolio Segment [Member] | ||
Loans individually evaluated for impairment, allowance | 0 | 0 |
Loans individually evaluated for impairment, balance | 0 | 0 |
Loans collectively evaluated for impairment, allowance | 25 | 18 |
Loans collectively evaluated for impairment, balance | 5,087 | 4,349 |
Loans, allowance | 25 | 18 |
Loans | $ 5,087 | $ 4,349 |
Note 8 - Loans - Allowance fo_2
Note 8 - Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Balance | $ 122,651 | $ 121,899 | $ 122,391 | $ 123,279 |
Provision/(reversal) for possible credit losses | (2,000) | (1,500) | (2,000) | (4,500) |
Charge-offs | (3,356) | (122) | (6,300) | (1,019) |
Recoveries | 8,613 | 3,180 | 11,817 | 5,697 |
Net (charge-offs)/recoveries | 5,257 | 3,058 | 5,517 | 4,678 |
Balance | 125,908 | 123,457 | 125,908 | 123,457 |
Reserve for impaired loans | 1,501 | 3,704 | 1,501 | 3,704 |
Reserve for non-impaired loans | 124,407 | 119,753 | 124,407 | 119,753 |
Reserve for off-balance sheet credit commitments | 4,550 | 3,088 | 4,550 | 3,088 |
Commercial Portfolio Segment [Member] | ||||
Balance | 54,293 | 55,179 | 54,978 | 49,796 |
Provision/(reversal) for possible credit losses | 7,400 | 1,270 | 8,262 | 6,097 |
Charge-offs | (3,356) | (122) | (6,300) | (629) |
Recoveries | 212 | 187 | 1,609 | 1,250 |
Net (charge-offs)/recoveries | (3,144) | 65 | (4,691) | 621 |
Balance | 58,549 | 56,514 | 58,549 | 56,514 |
Reserve for impaired loans | 744 | 2,506 | 744 | 2,506 |
Reserve for non-impaired loans | 57,805 | 54,008 | 57,805 | 54,008 |
Reserve for off-balance sheet credit commitments | 2,505 | 1,615 | 2,505 | 1,615 |
Real Estate Construction Portfolio Segment [Member] | ||||
Balance | 21,010 | 20,663 | 19,626 | 24,838 |
Provision/(reversal) for possible credit losses | (2,690) | 519 | (2,540) | (3,744) |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 3,378 | 44 | 4,612 | 132 |
Net (charge-offs)/recoveries | 3,378 | 44 | 4,612 | 132 |
Balance | 21,698 | 21,226 | 21,698 | 21,226 |
Reserve for impaired loans | 0 | 0 | 0 | 0 |
Reserve for non-impaired loans | 21,698 | 21,226 | 21,698 | 21,226 |
Reserve for off-balance sheet credit commitments | 1,608 | 1,174 | 1,608 | 1,174 |
Commercial Real Estate Portfolio Segment [Member] | ||||
Balance | 33,154 | 33,976 | 33,487 | 37,610 |
Provision/(reversal) for possible credit losses | (4,648) | (4,138) | (5,234) | (8,672) |
Charge-offs | 0 | 0 | 0 | (390) |
Recoveries | 4,961 | 2,944 | 5,214 | 4,234 |
Net (charge-offs)/recoveries | 4,961 | 2,944 | 5,214 | 3,844 |
Balance | 33,467 | 32,782 | 33,467 | 32,782 |
Reserve for impaired loans | 536 | 917 | 536 | 917 |
Reserve for non-impaired loans | 32,931 | 31,865 | 32,931 | 31,865 |
Reserve for off-balance sheet credit commitments | 121 | 78 | 121 | 78 |
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||
Balance | 14,164 | 12,062 | 14,282 | 11,013 |
Provision/(reversal) for possible credit losses | (2,057) | 842 | (2,495) | 1,815 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 62 | 5 | 382 | 81 |
Net (charge-offs)/recoveries | 62 | 5 | 382 | 81 |
Balance | 12,169 | 12,909 | 12,169 | 12,909 |
Reserve for impaired loans | 221 | 281 | 221 | 281 |
Reserve for non-impaired loans | 11,948 | 12,628 | 11,948 | 12,628 |
Reserve for off-balance sheet credit commitments | 313 | 215 | 313 | 215 |
Installment and Other Loans [Member ] | ||||
Balance | 30 | 19 | 18 | 22 |
Provision/(reversal) for possible credit losses | (5) | 7 | 7 | 4 |
Charge-offs | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Net (charge-offs)/recoveries | 0 | 0 | 0 | 0 |
Balance | 25 | 26 | 25 | 26 |
Reserve for impaired loans | 0 | 0 | 0 | 0 |
Reserve for non-impaired loans | 25 | 26 | 25 | 26 |
Reserve for off-balance sheet credit commitments | $ 3 | $ 6 | $ 3 | $ 6 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Qualified Affordable Housing and Alternative Energy Partnerships [Member] | ||
Other Commitment, Total | $ 131.4 | $ 113 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2019 | Dec. 31, 2018 | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.14% | 3.14% | |
Operating Lease, Weighted Average Remaining Lease Term | 5 years 5 months 19 days | 5 years 5 months 19 days | |
Operating Lease, Right-of-Use Asset | $ 34,518 | $ 34,518 | $ 0 |
Operating Lease, Right-of-use Asset, Accumulated Amortization | 6,200 | 6,200 | |
Operating Lease, Expense | 3,300 | 10,100 | |
Operating Lease, Payments | $ 2,100 | $ 6,200 |
Note 10 - Leases - Lease Maturi
Note 10 - Leases - Lease Maturity Schedule (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Remaining 2019 | $ 2,114 | |
2020 | 8,543 | |
2021 | 7,635 | |
2022 | 6,428 | |
2023 | 5,426 | |
Thereafter | 9,531 | |
Total lease payments | 39,677 | |
Less amount of payment representing interest | (3,535) | |
Lease liabilities - operating leases | $ 36,142 | $ 0 |
Note 10 - Leases - Future Minim
Note 10 - Leases - Future Minimum Payments Under Operating Leases (Details) $ in Thousands | Dec. 31, 2018USD ($) |
2019 | $ 8,835 |
2020 | 7,220 |
2021 | 6,406 |
2022 | 5,406 |
2023 | 4,208 |
Thereafter | 4,899 |
Total minimum lease payments | $ 36,974 |
Note 11 - Borrowed Funds (Detai
Note 11 - Borrowed Funds (Details Textual) - USD ($) $ in Thousands | Oct. 12, 2017 | Sep. 30, 2019 | Dec. 31, 2018 |
Advances from Federal Home Loan Banks, Total | $ 600,000 | $ 530,000 | |
Long-term Debt, Total | 160,386 | 189,448 | |
Junior Subordinated Notes, Noncurrent | $ 119,100 | $ 119,100 | |
Junior Subordinated Debt [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.29% | 4.96% | |
Debt Instrument, Term | 30 years | ||
SinoPac Bancorp [Member] | |||
Business Combination, Deferred Payments | $ 7,600 | ||
Debt Instrument, Face Amount | $ 7,000 | ||
Debt Instrument, Interest Rate, Effective Percentage | 3.60% | ||
SinoPac Bancorp [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.50% | ||
Mature in December 2019 [Member] | |||
Advances from Federal Home Loan Banks, Total | $ 50,000 | ||
Mature in May 2021 [Member] | |||
Advances from Federal Home Loan Banks, Total | 75,000 | ||
Mature in June 2021 [Member] | |||
Advances from Federal Home Loan Banks, Total | 50,000 | ||
Mature in July 2021 [Member] | |||
Advances from Federal Home Loan Banks, Total | 75,000 | ||
Mature in May 2023 [Member] | |||
Advances from Federal Home Loan Banks, Total | $ 20,000 | ||
Term Loan [Member] | US Bank [Member] | |||
Debt Instrument, Face Amount | $ 75,000 | ||
Debt Instrument, Interest Rate, Effective Percentage | 3.875% | 4.125% | |
Long-term Debt, Total | $ 41,300 | ||
Debt Instrument, Periodic Payment, Principal | $ 4,700 | ||
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 | $ 330,000 | $ 200,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.08% | 2.56% | |
Non Overnight Borrowings [Member] | |||
Advances from Federal Home Loan Banks, Total | $ 270,000 | $ 330,000 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.15% | 2.42% |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 20.30% | 19.00% |
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount | $ 0.6 | |
Domestic Tax Authority [Member] | California Franchise Tax Board [Member] | ||
Open Tax Year | 2016 2017 2018 2019 | |
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | ||
Open Tax Year | 2014 2015 2016 2017 2018 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements (Details Textual) $ in Thousands | Sep. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | $ 11,329 | $ 12,674 |
Accounts Receivable Collateral [Member] | ||
Collateral Discount Rates | 55.00% | |
Inventory Collateral [Member] | ||
Collateral Discount Rates | 65.00% | |
Minimum [Member] | ||
Estimated Sales Cost Applied To Collateral | 3.00% | |
Maximum [Member] | ||
Estimated Sales Cost Applied To Collateral | 6.00% | |
Measurement Input, Expected Term [Member] | Minimum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1 | |
Measurement Input, Expected Term [Member] | Maximum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 6 | |
Measurement Input, Risk Free Interest Rate [Member] | Minimum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.77 | |
Measurement Input, Risk Free Interest Rate [Member] | Maximum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.87 | |
Measurement Input, Price Volatility [Member] | Minimum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 13.86 | |
Measurement Input, Price Volatility [Member] | Maximum [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 20.46 |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Securities available-for-sale | $ 1,427,438 | $ 1,242,509 |
Equity securities | 32,862 | 25,098 |
Assets, fair value disclosure | 1,462,993 | 1,275,998 |
Liabilities, fair value disclosure | 20,175 | 3,312 |
Securities available-for-sale | ||
Securities available-for-sale | 1,427,438 | 1,242,509 |
Equity securities | 32,862 | 25,098 |
Assets, fair value disclosure | 1,462,993 | 1,275,998 |
Liabilities, fair value disclosure | 20,175 | 3,312 |
US Government Corporations and Agencies Securities [Member] | ||
Securities available-for-sale | 92,954 | |
Securities available-for-sale | ||
Securities available-for-sale | 92,954 | |
US Treasury Securities [Member] | ||
Securities available-for-sale | 124,751 | |
Securities available-for-sale | ||
Securities available-for-sale | 124,751 | |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 347,699 | 388,363 |
Securities available-for-sale | ||
Securities available-for-sale | 347,699 | 388,363 |
US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 5,871 | |
Securities available-for-sale | ||
Securities available-for-sale | 5,871 | |
Commercial Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 886,735 | 656,744 |
Securities available-for-sale | ||
Securities available-for-sale | 886,735 | 656,744 |
Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 665 | 977 |
Securities available-for-sale | ||
Securities available-for-sale | 665 | 977 |
Corporate Debt Securities [Member] | ||
Securities available-for-sale | 99,385 | 65,803 |
Securities available-for-sale | ||
Securities available-for-sale | 99,385 | 65,803 |
Mutual Funds [Member] | ||
Equity securities | 6,307 | 6,094 |
Securities available-for-sale | ||
Equity securities | 6,307 | 6,094 |
Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 15,145 | 7,822 |
Securities available-for-sale | ||
Equity securities | 15,145 | 7,822 |
Other Equity Securities [Member] | ||
Equity securities | 11,410 | 11,182 |
Securities available-for-sale | ||
Equity securities | 11,410 | 11,182 |
Warrant [Member] | ||
Assets, fair value disclosure | 31 | 184 |
Securities available-for-sale | ||
Assets, fair value disclosure | 31 | 184 |
Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 1,697 | 7,810 |
Liabilities, fair value disclosure | 17,734 | 1,543 |
Securities available-for-sale | ||
Assets, fair value disclosure | 1,697 | 7,810 |
Liabilities, fair value disclosure | 17,734 | 1,543 |
Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 965 | 397 |
Liabilities, fair value disclosure | 2,435 | 1,763 |
Securities available-for-sale | ||
Assets, fair value disclosure | 965 | 397 |
Liabilities, fair value disclosure | 2,435 | 1,763 |
Option Contracts [Member] | ||
Liabilities, fair value disclosure | 6 | 6 |
Securities available-for-sale | ||
Liabilities, fair value disclosure | 6 | 6 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities available-for-sale | 0 | 124,751 |
Equity securities | 32,862 | 25,098 |
Assets, fair value disclosure | 32,862 | 149,849 |
Liabilities, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 124,751 |
Equity securities | 32,862 | 25,098 |
Assets, fair value disclosure | 32,862 | 149,849 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Government Corporations and Agencies Securities [Member] | ||
Securities available-for-sale | 0 | |
Securities available-for-sale | ||
Securities available-for-sale | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Securities available-for-sale | 124,751 | |
Securities available-for-sale | ||
Securities available-for-sale | 124,751 | |
Fair Value, Inputs, Level 1 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 0 | |
Securities available-for-sale | ||
Securities available-for-sale | 0 | |
Fair Value, Inputs, Level 1 [Member] | Commercial Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member] | ||
Equity securities | 6,307 | 6,094 |
Securities available-for-sale | ||
Equity securities | 6,307 | 6,094 |
Fair Value, Inputs, Level 1 [Member] | Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 15,145 | 7,822 |
Securities available-for-sale | ||
Equity securities | 15,145 | 7,822 |
Fair Value, Inputs, Level 1 [Member] | Other Equity Securities [Member] | ||
Equity securities | 11,410 | 11,182 |
Securities available-for-sale | ||
Equity securities | 11,410 | 11,182 |
Fair Value, Inputs, Level 1 [Member] | Warrant [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Assets, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Option Contracts [Member] | ||
Liabilities, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities available-for-sale | 1,427,438 | 1,117,758 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 1,430,100 | 1,125,965 |
Liabilities, fair value disclosure | 20,175 | 3,312 |
Securities available-for-sale | ||
Securities available-for-sale | 1,427,438 | 1,117,758 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 1,430,100 | 1,125,965 |
Liabilities, fair value disclosure | 20,175 | 3,312 |
Fair Value, Inputs, Level 2 [Member] | US Government Corporations and Agencies Securities [Member] | ||
Securities available-for-sale | 92,954 | |
Securities available-for-sale | ||
Securities available-for-sale | 92,954 | |
Fair Value, Inputs, Level 2 [Member] | US Treasury Securities [Member] | ||
Securities available-for-sale | 0 | |
Securities available-for-sale | ||
Securities available-for-sale | 0 | |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 347,699 | 388,363 |
Securities available-for-sale | ||
Securities available-for-sale | 347,699 | 388,363 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 5,871 | |
Securities available-for-sale | ||
Securities available-for-sale | 5,871 | |
Fair Value, Inputs, Level 2 [Member] | Commercial Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 886,735 | 656,744 |
Securities available-for-sale | ||
Securities available-for-sale | 886,735 | 656,744 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 665 | 977 |
Securities available-for-sale | ||
Securities available-for-sale | 665 | 977 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Securities available-for-sale | 99,385 | 65,803 |
Securities available-for-sale | ||
Securities available-for-sale | 99,385 | 65,803 |
Fair Value, Inputs, Level 2 [Member] | Mutual Funds [Member] | ||
Equity securities | 0 | 0 |
Securities available-for-sale | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 0 | 0 |
Securities available-for-sale | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Other Equity Securities [Member] | ||
Equity securities | 0 | 0 |
Securities available-for-sale | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Warrant [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Assets, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 1,697 | 7,810 |
Liabilities, fair value disclosure | 17,734 | 1,543 |
Securities available-for-sale | ||
Assets, fair value disclosure | 1,697 | 7,810 |
Liabilities, fair value disclosure | 17,734 | 1,543 |
Fair Value, Inputs, Level 2 [Member] | Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 965 | 397 |
Liabilities, fair value disclosure | 2,435 | 1,763 |
Securities available-for-sale | ||
Assets, fair value disclosure | 965 | 397 |
Liabilities, fair value disclosure | 2,435 | 1,763 |
Fair Value, Inputs, Level 2 [Member] | Option Contracts [Member] | ||
Liabilities, fair value disclosure | 6 | 6 |
Securities available-for-sale | ||
Liabilities, fair value disclosure | 6 | 6 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities available-for-sale | 0 | 0 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 31 | 184 |
Liabilities, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Equity securities | 0 | 0 |
Assets, fair value disclosure | 31 | 184 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Government Corporations and Agencies Securities [Member] | ||
Securities available-for-sale | 0 | |
Securities available-for-sale | ||
Securities available-for-sale | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Treasury Securities [Member] | ||
Securities available-for-sale | 0 | |
Securities available-for-sale | ||
Securities available-for-sale | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | ||
Securities available-for-sale | 0 | |
Securities available-for-sale | ||
Securities available-for-sale | 0 | |
Fair Value, Inputs, Level 3 [Member] | Commercial Mortgage Backed Securities [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Obligations [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Securities available-for-sale | 0 | 0 |
Securities available-for-sale | ||
Securities available-for-sale | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member] | ||
Equity securities | 0 | 0 |
Securities available-for-sale | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Preferred Stock of Government Sponsored Entities [Member] | ||
Equity securities | 0 | 0 |
Securities available-for-sale | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Other Equity Securities [Member] | ||
Equity securities | 0 | 0 |
Securities available-for-sale | ||
Equity securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Warrant [Member] | ||
Assets, fair value disclosure | 31 | 184 |
Securities available-for-sale | ||
Assets, fair value disclosure | 31 | 184 |
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Foreign Exchange Contract [Member] | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Assets, fair value disclosure | 0 | 0 |
Liabilities, fair value disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Option Contracts [Member] | ||
Liabilities, fair value disclosure | 0 | 0 |
Securities available-for-sale | ||
Liabilities, fair value disclosure | $ 0 | $ 0 |
Note 13 - Fair Value Measurem_5
Note 13 - Fair Value Measurements - Financial Assets and Liabilities Measured on a Non-recurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |||||||
Assets, fair value disclosure | $ 1,462,993 | $ 1,462,993 | $ 1,275,998 | |||||||||
Total Losses | 203 | $ 62 | 715 | $ 326 | (289) | $ 874 | ||||||
Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 94,356 | 94,356 | 53,297 | |||||||||
Fair Value, Inputs, Level 1 [Member] | ||||||||||||
Assets, fair value disclosure | 32,862 | 32,862 | 149,849 | |||||||||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Fair Value, Inputs, Level 2 [Member] | ||||||||||||
Assets, fair value disclosure | 1,430,100 | 1,430,100 | 1,125,965 | |||||||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 7,625 | 7,625 | 9,023 | |||||||||
Fair Value, Inputs, Level 3 [Member] | ||||||||||||
Assets, fair value disclosure | 31 | 31 | 184 | |||||||||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 86,731 | 86,731 | 44,274 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | ||||||||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 5,696 | 5,696 | 6,850 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Residential Mortgage and Equity Lines Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 5,696 | 5,696 | 6,850 | |||||||||
Impaired Loans [Member] | ||||||||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 25 | ||||||
Impaired Loans [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 43,939 | 43,939 | 37,769 | |||||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 43,939 | 43,939 | 37,769 | |||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | ||||||||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 25 | ||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 12,491 | 12,491 | 4,733 | |||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 12,491 | 12,491 | 4,733 | |||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||||
Total Losses | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 25,752 | 25,752 | 26,186 | |||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Impaired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 25,752 | 25,752 | 26,186 | |||||||||
Loans Held-for-sale [Member] | ||||||||||||
Total Losses | 120 | 0 | 120 | 0 | ||||||||
Loans Held-for-sale [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 36,778 | 36,778 | ||||||||||
Loans Held-for-sale [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | ||||||||||
Loans Held-for-sale [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | ||||||||||
Loans Held-for-sale [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 36,778 | 36,778 | ||||||||||
Other Real Estate Owned [Member] | ||||||||||||
Total Losses | 0 | [1] | 0 | [1] | 494 | [1] | 0 | [1] | (619) | [2] | 457 | [2] |
Other Real Estate Owned [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 11,968 | [1] | 11,968 | [1] | 13,366 | [2] | ||||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | [1] | 0 | [1] | 0 | [2] | ||||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 7,625 | [1] | 7,625 | [1] | 9,023 | [2] | ||||||
Other Real Estate Owned [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 4,343 | [1] | 4,343 | [1] | 4,343 | [2] | ||||||
Investments in Venture Capital [Member] | ||||||||||||
Total Losses | 83 | $ 62 | 101 | $ 326 | 330 | $ 392 | ||||||
Investments in Venture Capital [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 1,671 | 1,671 | 2,162 | |||||||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | 0 | 0 | 0 | |||||||||
Investments in Venture Capital [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||||||||||
Assets, fair value disclosure | $ 1,671 | $ 1,671 | $ 2,162 | |||||||||
[1] | Other real estate owned balance of $11.3 million in the condensed consolidated balance sheet is net of estimated disposal costs. | |||||||||||
[2] | Other real estate owned balance of $12.7 million in the Consolidated Balance Sheets is net of estimated disposal costs. |
Note 14 - Fair Value of Finan_3
Note 14 - Fair Value of Financial Instruments - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 | |
Cash and due from banks | $ 257,189 | $ 225,333 | |
Securities available-for-sale | 1,427,438 | 1,242,509 | |
Loans held-for-sale | 36,778 | ||
Loans, net | 15,004,114 | 13,928,162 | |
Equity securities | 32,862 | 25,098 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Warrants | 1,697 | 7,810 | |
Foreign exchange contracts with gain | 70,955 | 86,875 | |
Foreign exchange contracts with gain, fair value | 965 | 397 | |
Interest rate swaps | 139,466 | 467,410 | |
Interest rate swaps, fair value | 1,697 | 7,810 | |
Deposits | 14,703,977 | 13,754,028 | |
Advances from Federal Home Loan Bank | 603,014 | 529,500 | |
Other borrowings | 31,844 | 34,031 | |
Long-term debt | 113,409 | 132,615 | |
Option contracts | 1,172 | 1,215 | |
Option contracts, fair value | 6 | 6 | |
Foreign exchange contracts with loss | 121,769 | 94,977 | |
Foreign exchange contracts with loss, fair value | 2,435 | 1,763 | |
Interest rate swaps | 581,496 | 265,166 | |
Interest rate swaps, fair value | 17,734 | 1,543 | |
Commitments to extend credit | 3,097,207 | 2,691,579 | |
Commitments to extend credit, fair value | (9,291) | (8,843) | |
Standby letters of credit | 264,059 | 245,087 | |
Standby letters of credit, fair value | (2,537) | (2,662) | |
Other letters of credit | 29,230 | 35,759 | |
Other letters of credit, fair value | (28) | (30) | |
Bill of lading guarantees | 743 | 730 | |
Bill of lading guarantees, fair value | 0 | 0 | |
Warrants [Member] | |||
Warrants | 31 | ||
Reported Value Measurement [Member] | |||
Cash and due from banks | 257,189 | 225,333 | |
Short-term investments | 567,957 | 374,957 | |
Securities available-for-sale | 1,427,438 | 1,242,509 | |
Loans held-for-sale | 36,778 | 0 | |
Loans, net | [1] | 14,601,565 | 13,871,832 |
Equity securities | 32,862 | 25,098 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 14,658,269 | 13,702,340 | |
Advances from Federal Home Loan Bank | 600,000 | 530,000 | |
Other borrowings | 38,369 | 35,756 | |
Long-term debt | 160,386 | 189,448 | |
Reported Value Measurement [Member] | Warrants [Member] | |||
Warrants | 31 | 184 | |
Estimate of Fair Value Measurement [Member] | |||
Cash and due from banks | 257,189 | 225,333 | |
Short-term investments | 567,957 | 374,957 | |
Securities available-for-sale | 1,427,438 | 1,242,509 | |
Loans held-for-sale | 36,778 | 0 | |
Loans, net | [1] | 15,004,114 | 13,928,162 |
Equity securities | 32,862 | 25,098 | |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 | |
Deposits | 14,703,977 | 13,754,028 | |
Advances from Federal Home Loan Bank | 603,014 | 529,500 | |
Other borrowings | 31,844 | 34,031 | |
Long-term debt | 113,409 | 132,615 | |
Estimate of Fair Value Measurement [Member] | Warrants [Member] | |||
Warrants | $ 31 | $ 184 | |
[1] | In accordance with the prospective adoption of ASU 2016-01, the fair value of loans as of December 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 14 - Fair Value of Finan_4
Note 14 - Fair Value of Financial Instruments - Fair Value Hierarchy of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Cash and due from banks | $ 257,189 | $ 225,333 |
Short-term investments | 567,957 | 374,957 |
Securities available-for-sale | 1,427,438 | 1,242,509 |
Loans held-for-sale | 36,778 | |
Loans, net | 15,004,114 | 13,928,162 |
Equity securities | 32,862 | 25,098 |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 |
Warrants | 1,697 | 7,810 |
Deposits | 14,703,977 | 13,754,028 |
Advances from Federal Home Loan Bank | 603,014 | 529,500 |
Other borrowings | 31,844 | 34,031 |
Long-term debt | 113,409 | 132,615 |
Equity Securities, FV-NI | 32,862 | 25,098 |
Warrants [Member] | ||
Warrants | 31 | |
Warrants | 184 | |
Fair Value, Inputs, Level 1 [Member] | ||
Cash and due from banks | 257,189 | 225,333 |
Short-term investments | 567,957 | 374,957 |
Securities available-for-sale | 0 | 124,751 |
Loans held-for-sale | 0 | |
Loans, net | 0 | 0 |
Equity securities | 32,862 | 25,098 |
Investment in Federal Home Loan Bank stock | 0 | 0 |
Deposits | 0 | 0 |
Advances from Federal Home Loan Bank | 0 | 0 |
Other borrowings | 0 | 0 |
Long-term debt | 0 | 0 |
Equity Securities, FV-NI | 32,862 | 25,098 |
Fair Value, Inputs, Level 1 [Member] | Warrants [Member] | ||
Warrants | 0 | |
Warrants | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Cash and due from banks | 0 | 0 |
Short-term investments | 0 | 0 |
Securities available-for-sale | 1,427,438 | 1,117,758 |
Loans held-for-sale | 0 | |
Loans, net | 0 | 0 |
Equity securities | 0 | 0 |
Investment in Federal Home Loan Bank stock | 17,250 | 17,250 |
Deposits | 0 | 0 |
Advances from Federal Home Loan Bank | 603,014 | 529,500 |
Other borrowings | 0 | 0 |
Long-term debt | 113,409 | 132,615 |
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Warrants [Member] | ||
Warrants | 0 | |
Warrants | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Cash and due from banks | 0 | 0 |
Short-term investments | 0 | 0 |
Securities available-for-sale | 0 | 0 |
Loans held-for-sale | 36,778 | |
Loans, net | 15,004,114 | 13,928,162 |
Equity securities | 0 | 0 |
Investment in Federal Home Loan Bank stock | 0 | 0 |
Deposits | 14,703,977 | 13,754,028 |
Advances from Federal Home Loan Bank | 0 | 0 |
Other borrowings | 31,844 | 34,031 |
Long-term debt | 0 | 0 |
Equity Securities, FV-NI | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Warrants [Member] | ||
Warrants | $ 31 | |
Warrants | $ 184 |
Note 16 - Financial Derivativ_2
Note 16 - Financial Derivatives (Details Textual) - USD ($) $ in Thousands | May 31, 2014 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 |
Junior Subordinated Notes, Total | $ 119,100 | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ (793) | $ 1,666 | $ (4,119) | $ 4,595 | ||
Cash [Member] | ||||||
Collateral Already Posted, Aggregate Fair Value | 9,100 | 9,100 | $ 1,800 | |||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative Outstanding, Notional Amount | $ 119,100 | 119,100 | 119,100 | 119,100 | ||
Derivative Original Maturity | 10 years | |||||
Derivative, Average Fixed Interest Rate | 2.61% | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 4,400 | 241 | ||||
Net Accrued on Interest Rate Swaps | $ 78 | 83 | $ 41 | 480 | ||
Interest Rate Swap [Member] | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Derivative, Average Variable Interest Rate | 2.37% | 2.37% | ||||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | ||||||
Derivative Outstanding, Notional Amount | $ 584,000 | $ 584,000 | 613,400 | |||
Derivative, Average Fixed Interest Rate | 4.71% | 4.71% | ||||
Derivative, Average Variable Interest Rate | 5.01% | 5.01% | ||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ (9,800) | 6,600 | ||||
Net Accrued on Interest Rate Swaps | $ 205 | $ 96 | $ 1,400 | $ 132 | ||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Minimum [Member] | ||||||
Derivative Original Maturity | 3 years | |||||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | Maximum [Member] | ||||||
Derivative Original Maturity | 10 years | |||||
Interest Rate Swap [Member] | Fair Value Hedging [Member] | Designated as Hedging Instrument [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Derivative, Basis Spread on Variable Rate | 2.61% | 2.61% | ||||
Negative Fair Value [Member] | ||||||
Notional Amount Of Option Contract | $ 1,200 | $ 1,200 | 1,200 | |||
Open Option Contracts Fair Value | 6 | 6 | 6 | |||
Sum Of Spot And Forward Contract Notional Amount | 121,800 | 121,800 | 95,000 | |||
Negative Fair Value | 2,400 | 2,400 | 1,800 | |||
Positive Fair Value [Member] | ||||||
Sum Of Spot And Forward Contract Notional Amount | 71,000 | 71,000 | 86,900 | |||
Positive Fair Value | $ 965 | $ 965 | $ 397 |
Note 17 - Balance Sheet Offse_3
Note 17 - Balance Sheet Offsetting - Financial Instruments That Are Eligible for Offset in the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Sep. 30, 2019 | Dec. 31, 2018 |
Derivative assets, gross | $ 1,697 | $ 7,810 |
Derivative assets, net | 1,697 | 7,810 |
Derivative assets not offset | 1,697 | 7,810 |
Derivative liabilities, gross | 17,734 | 1,543 |
Derivative liabilities, net | 17,734 | 1,543 |
Derivatives, collateral posted | (22,198) | (1,543) |
Derivative liabilities, not offset | $ (4,464) | $ 0 |
Note 18 - Revenue from Contra_3
Note 18 - Revenue from Contracts with Customers - Summary of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Revenue | $ 7,586 | $ 6,931 | $ 22,791 | $ 20,813 | |
Noninterest income, not in-scope(2) | [1] | 2,802 | 904 | 13,312 | 99 |
Total non-interest income | 10,388 | 7,835 | 36,103 | 20,912 | |
Fees and Services Charges on Deposit Account [Member] | |||||
Revenue | 1,892 | 2,027 | 5,940 | 6,421 | |
Wealth Management Fees [Member] | |||||
Revenue | 2,049 | 1,528 | 6,258 | 4,252 | |
Other Service Fees [Member] | |||||
Revenue | [2] | $ 3,645 | $ 3,376 | $ 10,593 | $ 10,140 |
[1] | These amounts primarily represent revenue from contracts with customers that are out of the scope of ASC 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. |
Note 19 - Stockholders' Equit_2
Note 19 - Stockholders' Equity (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Stockholders' Equity Attributable to Parent, Ending Balance | $ 2,245,894 | $ 2,116,777 | $ 2,245,894 | $ 2,116,777 | $ 2,199,297 | $ 2,121,866 | $ 2,064,836 | $ 1,973,304 |
Stockholders' Equity, Period Increase (Decrease), Total | 124,000 | |||||||
Net Income (Loss) Attributable to Parent, Total | 72,835 | 69,757 | 211,758 | 207,237 | ||||
Other Comprehensive Income (Loss), Net of Tax, Total | 525 | (862) | 17,173 | (12,198) | ||||
Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan | 2,522 | 1,982 | ||||||
Dividends, Common Stock, Cash | $ 24,701 | $ 19,532 | 74,422 | 58,498 | ||||
Payments for Repurchase of Common Stock | $ 36,301 | $ 0 |
Note 19 - Stockholders' Equit_3
Note 19 - Stockholders' Equity - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Balance | $ 2,199,297 | $ 2,064,836 | $ 2,121,866 | $ 1,973,304 | |
Total other comprehensive (loss)/income, net of tax | 525 | (862) | 17,173 | (12,198) | |
Balance | 2,245,894 | 2,116,777 | 2,245,894 | 2,116,777 | |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | |||||
Net unrealized (losses)/gains arising during the period, pre-tax | 1,750 | (3,603) | 30,119 | (23,854) | |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | (121) | (14) | (108) | (14) | |
Total other comprehensive (loss)/income, pre-tax | 1,871 | (3,589) | 30,227 | (23,840) | |
Net unrealized (losses)/gains arising during the period, tax | 517 | (1,065) | 8,903 | (7,051) | |
Reclassification adjustment for net losses/(gains) included in net income, tax | (36) | (4) | (32) | (4) | |
Total other comprehensive (loss)/income, tax | 553 | (1,061) | 8,935 | (7,047) | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, tax | [1] | 0 | 200 | ||
Balance | 2,209 | (24,084) | (17,765) | (1,060) | |
Net unrealized (losses)/gains arising during the period, net of tax | 1,233 | (2,538) | 21,216 | (16,803) | |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | (85) | (10) | (76) | (10) | |
Total other comprehensive (loss)/income, net of tax | 1,318 | (2,528) | 21,292 | (16,793) | |
Balance | 3,527 | (26,612) | 3,527 | (26,612) | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, net of tax | [1] | 0 | (200) | ||
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | |||||
Net unrealized (losses)/gains arising during the period, pre-tax | (1,126) | 2,365 | (5,848) | 6,523 | |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | 0 | 0 | 0 | 0 | |
Total other comprehensive (loss)/income, pre-tax | (1,126) | 2,365 | (5,848) | 6,523 | |
Net unrealized (losses)/gains arising during the period, tax | (333) | 699 | (1,729) | 1,928 | |
Reclassification adjustment for net losses/(gains) included in net income, tax | 0 | 0 | 0 | 0 | |
Total other comprehensive (loss)/income, tax | (333) | 699 | (1,729) | 1,928 | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, tax | [1] | 0 | 315 | ||
Balance | (3,567) | 1,163 | (241) | (1,451) | |
Net unrealized (losses)/gains arising during the period, net of tax | (793) | 1,666 | (4,119) | 4,595 | |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | 0 | 0 | 0 | 0 | |
Total other comprehensive (loss)/income, net of tax | (793) | 1,666 | (4,119) | 4,595 | |
Balance | (4,360) | 2,829 | (4,360) | 2,829 | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, net of tax | [1] | 0 | (315) | ||
AOCI Attributable to Parent [Member] | |||||
Net unrealized (losses)/gains arising during the period, pre-tax | 624 | (1,238) | 24,271 | (17,331) | |
Reclassification adjustment for net losses/(gains) included in net income, pre-tax | (121) | (14) | (108) | (14) | |
Total other comprehensive (loss)/income, pre-tax | 745 | (1,224) | 24,379 | (17,317) | |
Reclassification adjustment for equity securities, pre-tax | [2] | 0 | (12,151) | ||
Net unrealized (losses)/gains arising during the period, tax | 184 | (366) | 7,174 | (5,123) | |
Reclassification adjustment for net losses/(gains) included in net income, tax | (36) | (4) | (32) | (4) | |
Total other comprehensive (loss)/income, tax | 220 | (362) | 7,206 | (5,119) | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, tax | [1] | 0 | 515 | ||
Reclassification adjustment for equity securities, tax | [2] | 0 | (3,592) | ||
Balance | (1,358) | (22,921) | (18,006) | (2,511) | |
Net unrealized (losses)/gains arising during the period, net of tax | 440 | (872) | 17,097 | (12,208) | |
Reclassification adjustment for net losses/(gains) included in net income, net of tax | (85) | (10) | (76) | (10) | |
Total other comprehensive (loss)/income, net of tax | 525 | (862) | 17,173 | (12,198) | |
Balance | $ (833) | $ (23,783) | (833) | (23,783) | |
Reclassification adjustment for stranded tax effects of Tax Cuts and Job Act, net of tax | [1] | 0 | (515) | ||
Reclassification adjustment for equity securities, net of tax | [2] | $ 0 | $ (8,559) | ||
[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 20 - Stock Repurchase Pr_2
Note 20 - Stock Repurchase Program (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 5 Months Ended | 9 Months Ended | |
May 31, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | Sep. 30, 2019 | May 07, 2019 | |
Treasury Stock, Value, Acquired, Cost Method | $ 4,692 | $ 36,301 | |||
October 26, 2018 Stock Repurchase Program [Member] | |||||
Treasury Stock, Shares, Acquired | 1,182,060 | ||||
Treasury Stock, Value, Acquired, Cost Method | $ 45,000 | ||||
Treasury Stock Acquired, Average Cost Per Share | $ 38.07 | ||||
May 2019 Repurchase Program [Member] | |||||
Treasury Stock, Shares, Acquired | 741,934 | ||||
Treasury Stock, Value, Acquired, Cost Method | $ 26,400 | ||||
Treasury Stock Acquired, Average Cost Per Share | $ 35.59 | ||||
Stock Repurchase Program, Authorized Amount | $ 50,000 | ||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 23,600 | $ 23,600 | $ 23,600 |