Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Oct. 31, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,018 | |
Entity Registrant Name | FINANCIAL INSTITUTIONS INC | |
Entity Central Index Key | 862,831 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 15,924,959 |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Condition - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and due from banks | $ 117,331 | $ 99,195 |
Securities available for sale, at fair value | 458,310 | 524,973 |
Securities held to maturity, at amortized cost (fair value of $447,718 and $512,983, respectively) | 459,623 | 516,466 |
Loans held for sale | 3,166 | 2,718 |
Loans (net of allowance for loan losses of $33,955 and $34,672, respectively) | 2,954,376 | 2,700,345 |
Company owned life insurance | 66,628 | 65,288 |
Premises and equipment, net | 43,309 | 45,189 |
Goodwill and other intangible assets, net | 78,853 | 74,703 |
Other assets | 76,789 | 76,333 |
Total assets | 4,258,385 | 4,105,210 |
Deposits: | ||
Noninterest-bearing demand | 748,167 | 718,498 |
Interest-bearing demand | 711,321 | 634,203 |
Savings and money market | 988,486 | 1,005,317 |
Time deposits | 1,037,755 | 852,156 |
Total deposits | 3,485,729 | 3,210,174 |
Short-term borrowings | 308,200 | 446,200 |
Long-term borrowings, net of issuance costs of $816 and $869, respectively | 39,184 | 39,131 |
Other liabilities | 33,118 | 28,528 |
Total liabilities | 3,866,231 | 3,724,033 |
Shareholders’ equity: | ||
Total preferred equity | 17,329 | 17,329 |
Common stock, $0.01 par value; 50,000,000 shares authorized; 16,056,178 shares issued | 161 | 161 |
Additional paid-in capital | 122,478 | 121,058 |
Retained earnings | 276,563 | 257,078 |
Accumulated other comprehensive loss | (21,820) | (11,916) |
Treasury stock, at cost – 131,219 and 131,240 shares, respectively | (2,557) | (2,533) |
Total shareholders’ equity | 392,154 | 381,177 |
Total liabilities and shareholders’ equity | 4,258,385 | 4,105,210 |
Series A 3% Preferred Stock [Member] | ||
Shareholders’ equity: | ||
Total preferred equity | 144 | 144 |
Series B-1 8.48% Preferred Stock [Member] | ||
Shareholders’ equity: | ||
Total preferred equity | $ 17,185 | $ 17,185 |
Consolidated Statements Of Fi_2
Consolidated Statements Of Financial Condition (Parenthetical) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Securities held to maturity, fair value | $ 447,718 | $ 512,983 |
Loans, allowance for loan losses | 33,955 | 34,672 |
Debt issuance costs | $ 816 | $ 869 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 16,056,178 | 16,056,178 |
Treasury stock, shares | 131,219 | 131,240 |
Series A 3% Preferred Stock [Member] | ||
Preferred stock, par value | $ 100 | $ 100 |
Preferred stock, shares authorized | 1,533 | 1,533 |
Preferred stock, shares issued | 1,439 | 1,439 |
Preferred stock, dividend percentage | 3.00% | 3.00% |
Series B-1 8.48% Preferred Stock [Member] | ||
Preferred stock, par value | $ 100 | $ 100 |
Preferred stock, shares authorized | 200,000 | 200,000 |
Preferred stock, shares issued | 171,847 | 171,847 |
Preferred stock, dividend percentage | 8.48% | 8.48% |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Interest income: | ||||
Interest and fees on loans | $ 33,750 | $ 27,455 | $ 94,851 | $ 77,540 |
Interest and dividends on investment securities | 5,283 | 5,941 | 16,449 | 17,736 |
Other interest income | 2 | 6 | 67 | |
Total interest income | 39,035 | 33,396 | 111,306 | 95,343 |
Interest expense: | ||||
Deposits | 5,163 | 3,089 | 12,872 | 7,820 |
Short-term borrowings | 2,434 | 1,251 | 6,047 | 2,815 |
Long-term borrowings | 617 | 618 | 1,853 | 1,853 |
Total interest expense | 8,214 | 4,958 | 20,772 | 12,488 |
Net interest income | 30,821 | 28,438 | 90,534 | 82,855 |
Provision for loan losses | 2,061 | 2,802 | 5,050 | 9,415 |
Net interest income after provision for loan losses | 28,760 | 25,636 | 85,484 | 73,440 |
Noninterest income: | ||||
Service charges on deposits | 1,813 | 1,901 | 5,254 | 5,486 |
Insurance income | 1,501 | 1,488 | 3,918 | 4,052 |
ATM and debit card | 1,557 | 1,445 | 4,509 | 4,230 |
Investment advisory | 2,245 | 1,497 | 5,934 | 4,357 |
Company owned life insurance | 440 | 449 | 1,333 | 1,367 |
Investments in limited partnerships | 328 | (14) | 1,019 | 91 |
Loan servicing | 78 | 105 | 396 | 348 |
Net gain on sale of loans held for sale | 303 | 150 | 530 | 270 |
Net (loss) gain on investment securities | (95) | 184 | (88) | 600 |
Net gain on derivative instruments | 354 | 127 | 606 | 127 |
Net gain on other assets | 37 | 21 | 49 | 25 |
Contingent consideration liability adjustment | 1,200 | |||
Other | 1,337 | 1,221 | 3,971 | 3,590 |
Total noninterest income | 9,898 | 8,574 | 27,431 | 25,743 |
Noninterest expense: | ||||
Salaries and employee benefits | 13,970 | 12,348 | 40,270 | 35,703 |
Occupancy and equipment | 4,337 | 4,087 | 12,911 | 12,235 |
Professional services | 1,353 | 1,157 | 3,132 | 3,229 |
Computer and data processing | 1,291 | 1,208 | 3,884 | 3,691 |
Supplies and postage | 485 | 492 | 1,545 | 1,496 |
FDIC assessments | 498 | 440 | 1,486 | 1,366 |
Advertising and promotions | 949 | 344 | 2,647 | 1,451 |
Amortization of intangibles | 334 | 288 | 927 | 876 |
Goodwill impairment | 1,575 | |||
Other | 2,304 | 2,103 | 6,271 | 5,728 |
Total noninterest expense | 25,521 | 22,467 | 73,073 | 67,350 |
Income before income taxes | 13,137 | 11,743 | 39,842 | 31,833 |
Income tax expense | 2,560 | 3,464 | 7,807 | 9,365 |
Net income | 10,577 | 8,279 | 32,035 | 22,468 |
Preferred stock dividends | 365 | 366 | 1,096 | 1,097 |
Net income available to common shareholders | $ 10,212 | $ 7,913 | $ 30,939 | $ 21,371 |
Earnings per common share (Note 3): | ||||
Basic | $ 0.64 | $ 0.52 | $ 1.95 | $ 1.44 |
Diluted | 0.64 | 0.52 | 1.94 | 1.44 |
Cash dividends declared per common share | $ 0.24 | $ 0.21 | $ 0.72 | $ 0.63 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 10,577 | $ 8,279 | $ 32,035 | $ 22,468 |
Other comprehensive (loss) income, net of tax: | ||||
Securities available for sale and transferred securities | (1,736) | 284 | (10,493) | 2,600 |
Hedging derivative instruments | 85 | 208 | ||
Pension and post-retirement obligations | 127 | 171 | 381 | 513 |
Total other comprehensive (loss) income, net of tax | (1,524) | 455 | (9,904) | 3,113 |
Comprehensive income | $ 9,053 | $ 8,734 | $ 22,131 | $ 25,581 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Series B-1 8.48% Preferred Stock [Member] | Series A 3% Preferred Stock [Member] | Preferred Equity [Member] | Preferred Equity [Member]Series B-1 8.48% Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member]Series B-1 8.48% Preferred Stock [Member] | Retained Earnings [Member]Series A 3% Preferred Stock [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] |
Cumulative-effect adjustment | $ (279) | $ 279 | ||||||||||
Balance at Dec. 31, 2016 | $ 320,054 | $ 17,340 | $ 147 | 81,755 | 237,687 | $ (13,951) | $ (2,924) | |||||
Adjusted Balance at Dec. 31, 2016 | 320,054 | 17,340 | 147 | 81,476 | 237,966 | (13,951) | (2,924) | |||||
Comprehensive income: | ||||||||||||
Net income | 22,468 | 22,468 | ||||||||||
Other comprehensive income, net of tax | 3,113 | 3,113 | ||||||||||
Purchases of common stock for treasury | (148) | (148) | ||||||||||
Common stock issued | 29,664 | 11 | 29,653 | |||||||||
Repurchase of Series B-1 8.48% preferred stock | $ (6) | $ (6) | ||||||||||
Share-based compensation plans: | ||||||||||||
Share-based compensation | 885 | 885 | ||||||||||
Stock options exercised | 413 | 5 | 408 | |||||||||
Restricted stock awards issued, net | 29 | (29) | ||||||||||
Stock awards | 115 | 39 | 76 | |||||||||
Cash dividends declared: | ||||||||||||
Preferred stock dividends per share | (1,094) | $ (3) | $ (1,094) | $ (3) | ||||||||
Common stock dividends per share | (9,459) | (9,459) | ||||||||||
Balance at Sep. 30, 2017 | 366,002 | 17,334 | 158 | 112,087 | 249,878 | (10,838) | (2,617) | |||||
Balance at Jun. 30, 2017 | (11,293) | |||||||||||
Comprehensive income: | ||||||||||||
Net income | 8,279 | |||||||||||
Other comprehensive income, net of tax | 455 | 455 | ||||||||||
Balance at Sep. 30, 2017 | 366,002 | 17,334 | 158 | 112,087 | 249,878 | (10,838) | (2,617) | |||||
Balance at Dec. 31, 2017 | 381,177 | 17,329 | 161 | 121,058 | 257,078 | (11,916) | (2,533) | |||||
Comprehensive income: | ||||||||||||
Net income | 32,035 | 32,035 | ||||||||||
Other comprehensive income, net of tax | (9,904) | (9,904) | ||||||||||
Purchases of common stock for treasury | (113) | (113) | ||||||||||
Share-based compensation plans: | ||||||||||||
Share-based compensation | 1,097 | 1,097 | ||||||||||
Stock options exercised | 320 | (19) | 339 | |||||||||
Restricted stock awards issued, net | 303 | (303) | ||||||||||
Stock awards | 92 | 39 | 53 | |||||||||
Cash dividends declared: | ||||||||||||
Preferred stock dividends per share | $ (1,093) | $ (3) | $ (1,093) | $ (3) | ||||||||
Common stock dividends per share | (11,454) | (11,454) | ||||||||||
Balance at Sep. 30, 2018 | 392,154 | 17,329 | 161 | 122,478 | 276,563 | (21,820) | (2,557) | |||||
Balance at Jun. 30, 2018 | (20,296) | |||||||||||
Comprehensive income: | ||||||||||||
Net income | 10,577 | |||||||||||
Other comprehensive income, net of tax | (1,524) | (1,524) | ||||||||||
Balance at Sep. 30, 2018 | $ 392,154 | $ 17,329 | $ 161 | $ 122,478 | $ 276,563 | $ (21,820) | $ (2,557) |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Common stock dividends per share, declared | $ 0.72 | $ 0.63 | |
Series A 3% Preferred Stock [Member] | |||
Preferred stock, dividend percentage | 3.00% | 3.00% | 3.00% |
Preferred stock dividends per share, declared | $ 2.25 | $ 2.25 | |
Series B-1 8.48% Preferred Stock [Member] | |||
Preferred stock, dividend percentage | 8.48% | 8.48% | 8.48% |
Preferred stock dividends per share, declared | $ 6.36 | $ 6.36 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 32,035 | $ 22,468 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 4,855 | 4,613 |
Net amortization of premiums on securities | 1,931 | 2,473 |
Provision for loan losses | 5,050 | 9,415 |
Share-based compensation | 1,097 | 885 |
Deferred income tax benefit | (2,979) | (527) |
Proceeds from sale of loans held for sale | 20,906 | 9,439 |
Originations of loans held for sale | (20,824) | (10,526) |
Income on company owned life insurance | (1,333) | (1,367) |
Net gain on sale of loans held for sale | (530) | (270) |
Net loss (gain) on investment securities | 88 | (600) |
Net gain on other assets | (49) | (25) |
Goodwill impairment | 1,575 | |
Decrease (increase) in other assets | 6,549 | (874) |
Increase (decrease) in other liabilities | 4,013 | (1,266) |
Net cash provided by operating activities | 50,809 | 35,413 |
Cash flows from investing activities: | ||
Purchases of available for sale securities | (86,434) | |
Purchases of held to maturity securities | (24,919) | (70,610) |
Proceeds from principal payments, maturities and calls on available for sale securities | 24,693 | 29,291 |
Proceeds from principal payments, maturities and calls on held to maturity securities | 80,445 | 74,205 |
Proceeds from sales of securities available for sale | 27,238 | 49,424 |
Net loan originations | (259,677) | (282,455) |
Purchases of company owned life insurance, net of proceeds received | (7) | (7) |
Proceeds from sales of other assets | 460 | 189 |
Purchases of premises and equipment | (1,999) | (6,966) |
Cash consideration paid for acquisition, net of cash acquired | (4,447) | (676) |
Net cash used in investing activities | (158,213) | (294,039) |
Cash flows from financing activities: | ||
Net increase in deposits | 275,555 | 286,286 |
Net decrease in short-term borrowings | (138,000) | (20,700) |
Repurchases of preferred stock | (6) | |
Proceeds from issuance of common stock | 29,664 | |
Purchases of common stock for treasury | (113) | (148) |
Proceeds from stock options exercised | 320 | 413 |
Cash dividends paid to common and preferred shareholders | (12,222) | (10,322) |
Net cash provided by financing activities | 125,540 | 285,187 |
Net increase in cash and cash equivalents | 18,136 | 26,561 |
Cash and cash equivalents, beginning of period | 99,195 | 71,277 |
Cash and cash equivalents, end of period | $ 117,331 | $ 97,838 |
Basis of Presentation And Summa
Basis of Presentation And Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation And Summary Of Significant Accounting Policies | (1.) Nature of Operations Financial Institutions, Inc. (the “Company”) is a financial holding company organized in 1931 under the laws of New York State (“New York”). The Company provides diversified financial services through its subsidiaries, Five Star Bank, Scott Danahy Naylon, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP Capital”). The Company offers a broad array of deposit, lending and other financial services to individuals, municipalities and businesses in Western and Central New York through its wholly-owned New York chartered banking subsidiary, Five Star Bank (the “Bank”). The Bank also has indirect lending network relationships with franchised automobile dealers in the Capital District of New York and Northern and Central Pennsylvania. SDN provides a broad range of insurance services to personal and business clients across 45 states. Courier Capital and HNP Capital provide customized investment management, investment consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Basis of Presentation The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The accounting and reporting policies conform to U.S. generally accepted accounting principles (“GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in conformity with GAAP have been condensed or omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated statements of financial condition, income, comprehensive income, changes in shareholders’ equity and cash flows for the periods indicated and contain adequate disclosure to make the information presented not misleading. These consolidated financial statements should be read in conjunction with the Company’s 2017 Annual Report on Form 10-K for the year ended December 31, 2017. The results of operations for any interim periods are not necessarily indicative of the results which may be expected for the entire year. Reclassifications Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. Such reclassifications did not impact net income or shareholders’ equity as previously reported. Subsequent Events The Company has evaluated events and transactions for potential recognition or disclosure through the day the financial statements were issued and determined there were no material recognizable subsequent events. Use of Estimates The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates relate to the determination of the allowance for loan losses, the carrying value of goodwill and deferred tax assets, and assumptions used in the defined benefit pension plan accounting. Cash Flow Reporting Supplemental cash flow information is summarized as follows for the nine months ended September 30 (in thousands): 2018 2017 Supplemental information: Cash paid for interest $ 19,803 $ 10,189 Cash paid for income taxes 3,790 8,677 Noncash investing and financing activities: Real estate and other assets acquired in settlement of loans 596 379 Accrued and declared unpaid dividends 4,187 3,637 Increase in net unsettled security purchases — 75 Assets acquired and liabilities assumed in business combinations: Fair value of assets acquired 2,561 812 Fair value of liabilities assumed 128 44 (1.) Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 is intended to improve the recognition and measurement of financial instruments by requiring equity investments to be measured at fair value with changes in fair value recognized in net income; requiring entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements; eliminating the requirement for entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured and amortized at cost on the balance sheet; and requiring an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. ASU 2016-01 is effective for annual periods and interim periods within those annual periods, beginning after December 15, 2017. The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments related to equity securities without readily determinable fair values (including disclosure requirements) should be applied prospectively to equity investments that exist as of the date of adoption. The adoption of ASU 2016-01, as of January 1, 2018, did not have a significant impact on the Company’s financial statements, except for the fair value disclosures as presented in Note 13 – Fair Value Measurements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments (1.) In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) – Premium Amortization on Purchased Callable Debt Securities In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220) – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (1.) Revenue Recognition Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The majority of our revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, derivatives and investment securities, as well as revenue related to our loan servicing activities, as these activities are subject to other GAAP. Descriptions of our primary revenue-generating activities that are within the scope of ASC 606, which are presented in our income statements as components of noninterest income are as follows: • Transactions and service-based revenues - these include service charges on deposits, investment advisory, and ATM and debit card fees. Revenue is recognized when the transactions occur or as services are performed over primarily monthly or quarterly periods. Payment is typically received in the period the transactions occur or, in some cases, within 90 days of the service period. Fees may be fixed or, where applicable, based on a percentage of transaction size or managed assets. • Insurance income - Insurance commissions are received on the sale of insurance products, and revenue is recognized upon the placement date of the insurance policies. Payment is normally received within the policy period. In addition to placement, SDN also provides insurance policy related risk management services. Revenue is recognized as these services are provided. |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | (2.) 2018 Activity – HNP Capital Acquisition On June 1, 2018, the Company completed the acquisition of HNP Capital, a Securities and Exchange Commission (“SEC”)-registered investment advisor with approximately $344 million in assets under management as of June 30, 2018. Consideration for the acquisition totaled $5.1 million in cash. As a result of the acquisition, the Company recorded goodwill of $2.6 million and other intangible assets of $2.5 million. The goodwill and other intangible assets are expected to be deductible for income tax purposes. The allocation of acquisition cost to the assets acquired and liabilities assumed and pro forma results of operations for this acquisition have not been presented because the effect of this acquisition was not material to the Company’s consolidated financial statements. 2017 Activity - Robshaw & Julian Acquisition On August 31, 2017, Courier Capital completed the acquisition of the assets of Robshaw & Julian Associates, Inc. (“Robshaw & Julian”), a registered investment advisor with approximately $175 million in assets under management, which increased Courier Capital’s total assets under management to a total of approximately $1.6 billion as of August 31, 2017. Consideration for the acquisition included cash and potential future cash bonuses contingent upon achievement of certain revenue performance targets through August 2020. As a result of the acquisition, Courier Capital recorded goodwill of $1.0 million and other intangible assets of $810 thousand. The goodwill and other intangible assets are expected to be deductible for income tax purposes. The allocation of acquisition cost to the assets acquired and liabilities assumed and pro forma results of operations for this acquisition have not been presented because the effect of this acquisition was not material to the Company’s consolidated financial statements. |
Earnings Per Common Share ("EPS
Earnings Per Common Share ("EPS") | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share ("EPS") | (3.) The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS (in thousands, except per share amounts). Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Net income available to common shareholders $ 10,212 $ 7,913 $ 30,939 $ 21,371 Weighted average common shares outstanding: Total shares issued 16,056 15,448 16,056 15,002 Unvested restricted stock awards (4 ) (44 ) (9 ) (48 ) Treasury shares (131 ) (136 ) (141 ) (148 ) Total basic weighted average common shares outstanding 15,921 15,268 15,906 14,806 Incremental shares from assumed: Exercise of stock options — 7 3 11 Vesting of restricted stock awards 43 27 42 30 Total diluted weighted average common shares outstanding 15,964 15,302 15,951 14,847 Basic earnings per common share $ 0.64 $ 0.52 $ 1.95 $ 1.44 Diluted earnings per common share $ 0.64 $ 0.52 $ 1.94 $ 1.44 For each of the periods presented, average shares subject to the following instruments were excluded from the computation of diluted EPS because the effect would be antidilutive: Stock options — — — — Restricted stock awards 7 — 6 2 Total 7 — 6 2 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2018 | |
Investments [Abstract] | |
Investment Securities | (4.) The amortized cost and fair value of investment securities are summarized below (in thousands): Amortized Unrealized Unrealized Fair Cost Gains Losses Value September 30, 2018 Securities available for sale: U.S. Government agency and government sponsored enterprises $ 157,786 — $ 5,977 $ 151,809 Mortgage-backed securities: Federal National Mortgage Association 275,416 39 10,778 264,677 Federal Home Loan Mortgage Corporation 37,088 10 1,847 35,251 Government National Mortgage Association 5,650 21 126 5,545 Collateralized mortgage obligations: Federal National Mortgage Association 139 — — 139 Federal Home Loan Mortgage Corporation 39 — — 39 Privately issued — 850 — 850 Total mortgage-backed securities 318,332 920 12,751 306,501 Total available for sale securities $ 476,118 $ 920 $ 18,728 $ 458,310 Securities held to maturity: State and political subdivisions 241,637 519 2,192 239,964 Mortgage-backed securities: Federal National Mortgage Association 12,032 — 467 11,565 Federal Home Loan Mortgage Corporation 4,616 — 272 4,344 Government National Mortgage Association 35,708 — 1,253 34,455 Collateralized mortgage obligations: Federal National Mortgage Association 65,130 — 3,270 61,860 Federal Home Loan Mortgage Corporation 81,676 — 4,103 77,573 Government National Mortgage Association 18,824 — 867 17,957 Total mortgage-backed securities 217,986 — 10,232 207,754 Total held to maturity securities $ 459,623 $ 519 $ 12,424 $ 447,718 December 31, 2017 Securities available for sale: U.S. Government agency and government sponsored enterprises $ 163,025 $ 122 $ 1,258 $ 161,889 Mortgage-backed securities: Federal National Mortgage Association 311,830 313 3,220 308,923 Federal Home Loan Mortgage Corporation 41,290 76 675 40,691 Government National Mortgage Association 12,051 193 12 12,232 Collateralized mortgage obligations: Federal National Mortgage Association 217 1 1 217 Federal Home Loan Mortgage Corporation 45 — — 45 Privately issued — 976 — 976 Total mortgage-backed securities 365,433 1,559 3,908 363,084 Total available for sale securities $ 528,458 $ 1,681 $ 5,166 $ 524,973 (4.) Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2017 (continued) Securities held to maturity: State and political subdivisions 283,557 2,317 662 285,212 Mortgage-backed securities: Federal National Mortgage Association 9,732 16 88 9,660 Federal Home Loan Mortgage Corporation 3,213 — 119 3,094 Government National Mortgage Association 26,841 — 330 26,511 Collateralized mortgage obligations: Federal National Mortgage Association 76,432 — 1,958 74,474 Federal Home Loan Mortgage Corporation 93,810 3 2,165 91,648 Government National Mortgage Association 22,881 5 502 22,384 Total mortgage-backed securities 232,909 24 5,162 227,771 Total held to maturity securities $ 516,466 $ 2,341 $ 5,824 $ 512,983 Investment securities with a total fair value of $788.9 million and $838.4 million at September 30, 2018 and December 31, 2017, respectively, were pledged as collateral to secure public deposits and for other purposes required or permitted by law. Sales and calls of securities available for sale were as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Proceeds from sales $ 21,470 $ 24,117 $ 27,238 $ 49,424 Gross realized gains 64 190 73 606 Gross realized losses 159 6 161 6 The scheduled maturities of securities available for sale and securities held to maturity at September 30, 2018 are shown below (in thousands). Actual expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Amortized Fair Cost Value Debt securities available for sale: Due in one year or less $ 35,676 $ 35,471 Due from one to five years 139,223 135,043 Due after five years through ten years 214,640 204,681 Due after ten years 86,579 83,115 Total available for sale securities $ 476,118 $ 458,310 Debt securities held to maturity: Due in one year or less $ 49,829 $ 49,878 Due from one to five years 150,749 150,479 Due after five years through ten years 83,277 79,898 Due after ten years 175,768 167,463 Total held to maturity securities $ 459,623 $ 447,718 (4.) Unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows (in thousands): Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses September 30, 2018 Securities available for sale: U.S. Government agency and government sponsored enterprises $ 88,647 $ 2,621 $ 63,162 $ 3,356 $ 151,809 $ 5,977 Mortgage-backed securities: Federal National Mortgage Association 54,316 1,380 208,371 9,398 262,687 10,778 Federal Home Loan Mortgage Corporation 2,374 80 32,041 1,767 34,415 1,847 Government National Mortgage Association 4,125 121 742 5 4,867 126 Collateralized mortgage obligations: Federal National Mortgage Association — — 58 — 58 — Federal Home Loan Mortgage Corporation — — 6 — 6 — Total mortgage-backed securities 60,815 1,581 241,218 11,170 302,033 12,751 Total available for sale securities 149,462 4,202 304,380 14,526 453,842 18,728 Securities held to maturity: State and political subdivisions 105,290 858 28,646 1,334 133,936 2,192 Mortgage-backed securities: Federal National Mortgage Association 5,467 151 6,098 316 11,565 467 Federal Home Loan Mortgage Corporation 1,455 30 2,889 242 4,344 272 Government National Mortgage Association 17,258 374 17,197 879 34,455 1,253 Collateralized mortgage obligations: Federal National Mortgage Association 1,982 41 59,878 3,229 61,860 3,270 Federal Home Loan Mortgage Corporation 9,845 390 67,728 3,713 77,573 4,103 Government National Mortgage Association 1,020 15 16,937 852 17,957 867 Total mortgage-backed securities 37,027 1,001 170,727 9,231 207,754 10,232 Total held to maturity securities 142,317 1,859 199,373 10,565 341,690 12,424 Total temporarily impaired securities $ 291,779 $ 6,061 $ 503,753 $ 25,091 $ 795,532 $ 31,152 December 31, 2017 Securities available for sale: U.S. Government agencies and government sponsored enterprises $ 95,046 $ 571 $ 31,561 $ 687 $ 126,607 $ 1,258 Mortgage-backed securities: Federal National Mortgage Association 201,754 1,855 67,383 1,365 269,137 3,220 Federal Home Loan Mortgage Corporation 20,446 192 15,601 483 36,047 675 Government National Mortgage Association 2,432 — 880 12 3,312 12 Collateralized mortgage obligations: Federal National Mortgage Association — — 119 1 119 1 Federal Home Loan Mortgage Corporation — — 8 — 8 — Total mortgage-backed securities 224,632 2,047 83,991 1,861 308,623 3,908 Total available for sale securities 319,678 2,618 115,552 2,548 435,230 5,166 (4.) Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2017 (continued) Securities held to maturity: State and political subdivisions 36,368 295 14,492 367 50,860 662 Mortgage-backed securities: Federal National Mortgage Association 3,766 29 2,694 59 6,460 88 Federal Home Loan Mortgage Corporation — — 3,094 119 3,094 119 Government National Mortgage Association 17,327 136 9,184 194 26,511 330 Collateralized mortgage obligations: Federal National Mortgage Association 16,830 202 57,645 1,756 74,475 1,958 Federal Home Loan Mortgage Corporation 23,727 337 66,467 1,828 90,194 2,165 Government National Mortgage Association 15,401 340 5,635 162 21,036 502 Total mortgage-backed securities 77,051 1,044 144,719 4,118 221,770 5,162 Total held to maturity securities 113,419 1,339 159,211 4,485 272,630 5,824 Total temporarily impaired securities $ 433,097 $ 3,957 $ 274,763 $ 7,033 $ 707,860 $ 10,990 The total number of security positions in the investment portfolio in an unrealized loss position at September 30, 2018 was 750 compared to 411 at December 31, 2017. At September 30, 2018, the Company had positions in 308 investment securities with a fair value of $503.8 million and a total unrealized loss of $25.1 million that have been in a continuous unrealized loss position for more than 12 months. At September 30, 2018, there were a total of 442 securities positions in the Company’s investment portfolio with a fair value of $291.8 million and a total unrealized loss of $6.1 million that had been in a continuous unrealized loss position for less than 12 months. At December 31, 2017, the Company had positions in 172 investment securities with a fair value of $274.8 million and a total unrealized loss of $7.0 million that had been in a continuous unrealized loss position for more than 12 months. At December 31, 2017, there were a total of 239 securities positions in the Company’s investment portfolio with a fair value of $433.1 million and a total unrealized loss of $4.0 million that had been in a continuous unrealized loss position for less than 12 months. The unrealized loss on investment securities was predominantly caused by changes in market interest rates subsequent to purchase. The fair value of most of the investment securities in the Company’s portfolio fluctuates as market interest rates change. The Company reviews investment securities on an ongoing basis for the presence of other than temporary impairment (“OTTI”) with formal reviews performed quarterly. When evaluating debt securities for OTTI, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intention to sell the debt security or whether it is more likely than not that it will be required to sell the debt security before its anticipated recovery. The assessment of whether OTTI exists involves a high degree of subjectivity and judgment and is based on the information then available to management. There was no impairment recorded during the nine months ended September 30, 2018 and 2017. Based on management’s review and evaluation of the Company’s debt securities as of September 30, 2018, the debt securities with unrealized losses were not considered to be OTTI. As of September 30, 2018, the Company did not intend to sell any of the securities in a loss position and believes that it is not likely that it will be required to sell any such securities before the anticipated recovery of amortized cost. Accordingly, as of September 30, 2018, management has concluded that unrealized losses on its investment securities are temporary and no further impairment loss has been realized in the Company’s consolidated statements of income. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2018 | |
Loans And Leases Receivable Disclosure [Abstract] | |
Loans | (5.) The Company’s loan portfolio consisted of the following as of the dates indicated (in thousands): Principal Amount Outstanding Net Deferred Loan (Fees) Costs Loans, Net September 30, 2018 Commercial business $ 537,160 $ 782 $ 537,942 Commercial mortgage 907,107 (2,096 ) 905,011 Residential real estate loans 498,883 8,715 507,598 Residential real estate lines 108,227 2,977 111,204 Consumer indirect 878,316 31,118 909,434 Other consumer 16,975 167 17,142 Total $ 2,946,668 $ 41,663 2,988,331 Allowance for loan losses (33,955 ) Total loans, net $ 2,954,376 December 31, 2017 Commercial business $ 449,763 $ 563 $ 450,326 Commercial mortgage 810,851 (1,943 ) 808,908 Residential real estate loans 457,761 7,522 465,283 Residential real estate lines 113,422 2,887 116,309 Consumer indirect 845,682 30,888 876,570 Other consumer 17,443 178 17,621 Total $ 2,694,922 $ 40,095 2,735,017 Allowance for loan losses (34,672 ) Total loans, net $ 2,700,345 Loans held for sale (not included above) were comprised entirely of residential real estate mortgages and totaled $3.2 million and $2.7 million as of September 30, 2018 and December 31, 2017, respectively. Past Due Loans Aging The Company’s recorded investment, by loan class, in current and nonaccrual loans, as well as an analysis of accruing delinquent loans is set forth as of the dates indicated (in thousands): 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Total Past Due Nonaccrual Current Total Loans September 30, 2018 Commercial business $ 364 $ — $ — $ 364 $ 2,203 $ 534,593 $ 537,160 Commercial mortgage 916 — — 916 1,900 904,291 907,107 Residential real estate loans 871 55 — 926 2,057 495,900 498,883 Residential real estate lines 185 — — 185 297 107,745 108,227 Consumer indirect 2,327 544 — 2,871 1,385 874,060 878,316 Other consumer 118 6 8 132 — 16,843 16,975 Total loans, gross $ 4,781 $ 605 $ 8 $ 5,394 $ 7,842 $ 2,933,432 $ 2,946,668 December 31, 2017 Commercial business $ 64 $ 36 $ — $ 100 $ 5,344 $ 444,319 $ 449,763 Commercial mortgage 56 375 — 431 2,623 807,797 810,851 Residential real estate loans 1,908 56 — 1,964 2,252 453,545 457,761 Residential real estate lines 349 — — 349 404 112,669 113,422 Consumer indirect 2,806 672 — 3,478 1,895 840,309 845,682 Other consumer 174 15 11 200 2 17,241 17,443 Total loans, gross $ 5,357 $ 1,154 $ 11 $ 6,522 $ 12,520 $ 2,675,880 $ 2,694,922 (5.) There were no loans past due greater than 90 days and still accruing interest as of September 30, 2018 and December 31, 2017. There were $8 thousand and $11 thousand in consumer overdrafts which were past due greater than 90 days as of September 30, 2018 and December 31, 2017, respectively. Consumer overdrafts are overdrawn deposit accounts which have been reclassified as loans but by their terms do not accrue interest. Troubled Debt Restructurings A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification constitutes a concession. Commercial loans modified in a TDR may involve temporary interest-only payments, term extensions, reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, collateral concessions, forgiveness of principal, forbearance agreements, or substituting or adding a new borrower or guarantor. There were no loans modified as a TDR during the nine months ended September 30, 2018 and 2017. There were no loans modified as a TDR within the previous 12 months that defaulted during the nine months ended September 30, 2018 and 2017. For purposes of this disclosure, a loan modified as a TDR is considered to have defaulted when the borrower becomes 90 days past due. Impaired Loans Management has determined that specific commercial loans on nonaccrual status and all loans that have had their terms restructured in a troubled debt restructuring are impaired loans. The following table presents the recorded investment, unpaid principal balance and related allowance of impaired loans as of the dates indicated and average recorded investment and interest income recognized on impaired loans for the nine months ended September 30, 2018 and twelve-month period ended December 31, 2017 (in thousands): Recorded Investment (1) Unpaid Principal Balance (1) Related Allowance Average Recorded Investment Interest Income Recognized September 30, 2018 With no related allowance recorded: Commercial business $ 1,155 $ 2,090 $ — $ 1,307 $ — Commercial mortgage 525 525 — 568 — 1,680 2,615 — 1,875 — With an allowance recorded: Commercial business 1,183 1,183 431 2,931 — Commercial mortgage 1,838 1,838 460 2,132 — 3,021 3,021 891 5,063 — $ 4,701 $ 5,636 $ 891 $ 6,938 $ — December 31, 2017 With no related allowance recorded: Commercial business $ 1,635 $ 2,370 $ — $ 853 $ — Commercial mortgage 584 584 — 621 — 2,219 2,954 — 1,474 — With an allowance recorded: Commercial business 3,853 3,853 2,056 4,468 — Commercial mortgage 2,528 2,528 115 1,516 — 6,381 6,381 2,171 5,984 — $ 8,600 $ 9,335 $ 2,171 $ 7,458 $ — (1) Difference between recorded investment and unpaid principal balance represents partial charge-offs. (5.) Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors such as the fair value of collateral. The Company analyzes commercial business and commercial mortgage loans individually by classifying the loans as to credit risk. Risk ratings are updated any time the situation warrants. The Company uses the following definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans that do not meet the criteria above that are analyzed individually as part of the process described above are considered “uncriticized” or pass-rated loans and are included in groups of homogeneous loans with similar risk and loss characteristics. The following table sets forth the Company’s commercial loan portfolio, categorized by internally assigned asset classification, as of the dates indicated (in thousands): Commercial Business Commercial Mortgage September 30, 2018 Uncriticized $ 505,865 $ 889,608 Special mention 21,141 10,221 Substandard 10,154 7,278 Doubtful — — Total $ 537,160 $ 907,107 December 31, 2017 Uncriticized $ 429,692 $ 791,127 Special mention 7,120 12,185 Substandard 12,951 7,539 Doubtful — — Total $ 449,763 $ 810,851 The Company utilizes payment status as a means of identifying and reporting problem and potential problem retail loans. The Company considers nonaccrual loans and loans past due greater than 90 days and still accruing interest to be non-performing. The following table sets forth the Company’s retail loan portfolio, categorized by payment status, as of the dates indicated (in thousands): Residential Real Estate Loans Residential Real Estate Lines Consumer Indirect Other Consumer September 30, 2018 Performing $ 496,826 $ 107,930 $ 876,931 $ 16,967 Non-performing 2,057 297 1,385 8 Total $ 498,883 $ 108,227 $ 878,316 $ 16,975 December 31, 2017 Performing $ 455,509 $ 113,018 $ 843,787 $ 17,430 Non-performing 2,252 404 1,895 13 Total $ 457,761 $ 113,422 $ 845,682 $ 17,443 (5.) Allowance for Loan Losses Loans and the related allowance for loan losses are presented below as of the dates indicated (in thousands): Commercial Business Commercial Mortgage Residential Real Estate Loans Residential Real Estate Lines Consumer Indirect Other Consumer Total September 30, 2018 Loans: Ending balance $ 537,160 $ 907,107 $ 498,883 $ 108,227 $ 878,316 $ 16,975 $ 2,946,668 Evaluated for impairment: Individually $ 2,338 $ 2,363 $ — $ — $ — $ — $ 4,701 Collectively $ 534,822 $ 904,744 $ 498,883 $ 108,227 $ 878,316 $ 16,975 $ 2,941,967 Allowance for loan losses: Ending balance $ 14,231 $ 5,422 $ 1,305 $ 212 $ 12,355 $ 430 $ 33,955 Evaluated for impairment: Individually $ 431 $ 460 $ — $ — $ — $ — $ 891 Collectively $ 13,800 $ 4,962 $ 1,305 $ 212 $ 12,355 $ 430 $ 33,064 September 30, 2017 Loans: Ending balance $ 418,873 $ 759,898 $ 438,936 $ 114,747 $ 827,154 $ 17,460 $ 2,577,068 Evaluated for impairment: Individually $ 7,126 $ 2,459 $ — $ — $ — $ — $ 9,585 Collectively $ 411,747 $ 757,439 $ 438,936 $ 114,747 $ 827,154 $ 17,460 $ 2,567,483 Allowance for loan losses: Ending balance $ 15,749 $ 3,727 $ 1,161 $ 157 $ 13,217 $ 336 $ 34,347 Evaluated for impairment: Individually $ 2,658 $ 171 $ — $ — $ — $ — $ 2,829 Collectively $ 13,091 $ 3,556 $ 1,161 $ 157 $ 13,217 $ 336 $ 31,518 The following table sets forth the changes in the allowance for loan losses for the three and nine-month periods ended September 30, 2018 (in thousands): Commercial Business Commercial Mortgage Residential Real Estate Loans Residential Real Estate Lines Consumer Indirect Other Consumer Total Three months ended September 30, 2018 Beginning balance $ 14,242 $ 5,371 $ 1,255 $ 248 $ 12,520 $ 319 $ 33,955 Charge-offs (672 ) (113 ) (24 ) (23 ) (2,474 ) (301 ) (3,607 ) Recoveries 241 3 8 2 1,228 64 1,546 Provision (credit) 420 161 66 (15 ) 1,081 348 2,061 Ending balance $ 14,231 $ 5,422 $ 1,305 $ 212 $ 12,355 $ 430 $ 33,955 Nine months ended September 30, 2018 Beginning balance $ 15,668 $ 3,696 $ 1,322 $ 180 $ 13,415 $ 391 $ 34,672 Charge-offs (1,113 ) (117 ) (53 ) (124 ) (8,089 ) (969 ) (10,465 ) Recoveries 438 11 140 17 3,862 230 4,698 Provision (credit) (762 ) 1,832 (104 ) 139 3,167 778 5,050 Ending balance $ 14,231 $ 5,422 $ 1,305 $ 212 $ 12,355 $ 430 $ 33,955 (5.) The following table sets forth the changes in the allowance for loan losses for the three and nine-month periods ended September 30, 2017 (in thousands): Commercial Business Commercial Mortgage Residential Real Estate Loans Residential Real Estate Lines Consumer Indirect Other Consumer Total Three months ended September 30, 2017 Beginning balance $ 14,622 $ 3,906 $ 1,247 $ 232 $ 12,833 $ 319 $ 33,159 Charge-offs (130 ) — (198 ) (21 ) (2,330 ) (230 ) (2,909 ) Recoveries 86 5 37 2 1,086 79 1,295 Provision (credit) 1,171 (184 ) 75 (56 ) 1,628 168 2,802 Ending balance $ 15,749 $ 3,727 $ 1,161 $ 157 $ 13,217 $ 336 $ 34,347 Nine months ended September 30, 2017 Beginning balance $ 7,225 $ 10,315 $ 1,478 $ 303 $ 11,311 $ 302 $ 30,934 Charge-offs (1,908 ) (10 ) (298 ) (64 ) (7,343 ) (620 ) (10,243 ) Recoveries 332 257 85 58 3,259 250 4,241 Provision (credit) 10,100 (6,835 ) (104 ) (140 ) 5,990 404 9,415 Ending balance $ 15,749 $ 3,727 $ 1,161 $ 157 $ 13,217 $ 336 $ 34,347 Risk Characteristics Commercial business loans primarily consist of loans to small to mid-sized businesses in our market area in a diverse range of industries. These loans are of higher risk and typically are made on the basis of the borrower’s ability to make repayment from the cash flow of the borrower’s business. Further, the collateral securing the loans may depreciate over time, may be difficult to appraise and may fluctuate in value. The credit risk related to commercial loans is largely influenced by general economic conditions and the resulting impact on a borrower’s operations or on the value of underlying collateral, if any. Commercial mortgage loans generally have larger balances and involve a greater degree of risk than residential mortgage loans, potentially resulting in higher potential losses on an individual customer basis. Loan repayment is often dependent on the successful operation and management of the properties, as well as on the collateral securing the loan. Economic events or conditions in the real estate market could have an adverse impact on the cash flows generated by properties securing the Company’s commercial real estate loans and on the value of such properties. Residential real estate loans (comprised of conventional mortgages and home equity loans) and residential real estate lines (comprised of home equity lines) are generally made based on the borrower’s ability to make repayment from his or her employment and other income but are secured by real property whose value tends to be more easily ascertainable. Credit risk for these types of loans is generally influenced by general economic conditions, the characteristics of individual borrowers, and the nature of the loan collateral. Consumer indirect and other consumer loans may entail greater credit risk than residential mortgage loans and home equities, particularly in the case of other consumer loans which are unsecured or, in the case of indirect consumer loans, secured by depreciable assets, such as automobiles or boats. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance. In addition, consumer loan collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be affected by adverse personal circumstances such as job loss, illness or personal bankruptcy. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill And Other Intangible Assets | (6.) Goodwill The carrying amount of goodwill totaled $68.4 million and $65.8 million as of September 30, 2018 and December 31, 2017, respectively. The Company performs a goodwill impairment test on an annual basis as of October 1st or more frequently if events and circumstances warrant. Banking Non-Banking Total Balance, December 31, 2017 $ 48,536 $ 17,304 $ 65,840 Acquisition — 2,572 2,572 Balance, September 30, 2018 $ 48,536 $ 19,876 $ 68,412 Goodwill and other intangible assets added during the period relates to the acquisition of HNP Capital, which was completed on June 1, 2018. See Note 2 – Business Combinations for additional information. Other Intangible Assets The Company has other intangible assets that are amortized, consisting of core deposit intangibles and other intangibles (primarily related to customer relationships). Gross carrying amount, accumulated amortization and net book value, were as follows (in thousands): September 30, December 31, 2018 2017 Other intangibles assets: Gross carrying amount $ 15,925 $ 13,420 Accumulated amortization (5,484 ) (4,557 ) Net book value $ 10,441 $ 8,863 Amortization expense for total other intangible assets was $334 thousand and $927 thousand for the three and nine months ended September 30, 2018, and $288 thousand and $876 thousand for the three and nine months ended September 30, 2017, respectively. As of September 30, 2018, the estimated amortization expense of other intangible assets for the remainder of 2018 and each of the next five years is as follows (in thousands): 2018 (remainder of year) $ 330 2019 1,250 2020 1,134 2021 1,014 2022 923 2023 852 |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | (7.) Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities, and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate caps as part of its interest rate risk management strategy. Interest rate caps designated as cash flow hedges involve the receipt of variable amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. During 2018, such derivatives were used to hedge the variable cash flows associated with short-term borrowings. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive income (loss) and subsequently reclassified into interest expense in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s borrowings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. The Company’s cash flow hedge derivatives did not have any hedge ineffectiveness recognized in earnings during the three and nine months ended September 30, 2018 and 2017. During the next twelve months, the Company estimates that an additional $29 thousand will be reclassified as a decrease to interest expense. Interest Rate Swaps The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. These interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. Credit-risk-related Contingent Features The Company has agreements with certain of its derivative counterparties that contain one or more of the following provisions: (a) if the Company defaults on any of its indebtedness, including a default where repayment of the indebtedness has not been accelerated by the lender, the Company could also be declared in default on its derivative obligations, and (b) if the Company fails to maintain its status as a well-capitalized institution, the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements. (7.) Fair Values of Derivative Instruments on the Balance Sheet The table below presents the notional amounts, respective fair values of the Company’s derivative financial instruments, as well as their classification on the balance sheet as of September 30, 2018 and December 31, 2017 (in thousands): Asset derivatives Liability derivatives Gross notional amount Balance Fair value Balance Fair value Sept. 30, 2018 Dec. 31, 2017 sheet line item Sept. 30, 2018 Dec. 31, 2017 sheet line item Sept. 30, 2018 Dec. 31, 2017 Derivatives designated as hedging instruments Cash flow hedges $ 100,000 $ — Other $ 1,305 $ — Other liabilities $ — $ — Total derivatives $ 100,000 $ — $ 1,305 $ — $ — $ — Derivatives not designated as hedging instruments Interest rate swaps $ 35,915 $ — Other assets $ 298 $ — Other liabilities $ 348 $ — Credit contracts 34,741 12,282 Other assets — — Other liabilities 8 4 Total derivatives $ 70,656 $ 12,282 $ 298 $ — $ 356 $ 4 Effect of Derivative Instruments on the Income Statement The table below presents the effect of the Company’s derivative financial instruments on the income statement for the three and nine months ended September 30, 2018 and 2017 (in thousands): Gain (loss) recognized in income Gain (loss) recognized in income Line item of gain (loss) Three months ended September 30, Nine months ended September 30, Undesignated derivatives recognized in income 2018 2017 2018 2017 Interest rate swaps Net gain on derivative instruments $ 349 $ — $ 419 $ — Credit contracts Net gain on derivative instruments 5 127 187 127 Total undesignated $ 354 $ 127 $ 606 $ 127 |
Shareholders' Equity
Shareholders' Equity | 9 Months Ended |
Sep. 30, 2018 | |
Stockholders Equity Note [Abstract] | |
Shareholders' Equity | (8.) Common Stock The changes in shares of common stock were as follows for the nine months ended September 30, 2018 and 2017: Outstanding Treasury Issued September 30, 2018 Shares at December 31, 2017 15,924,938 131,240 16,056,178 Restricted stock awards issued 7,370 (7,370 ) — Restricted stock awards forfeited (23,901 ) 23,901 — Stock options exercised 17,450 (17,450 ) — Stock awards 2,724 (2,724 ) — Treasury stock purchases (3,622 ) 3,622 — Shares at September 30, 2018 15,924,959 131,219 16,056,178 September 30, 2017 Shares at December 31, 2016 14,537,597 154,617 14,692,214 Common stock issued for "at-the-market" equity offering 1,069,635 — 1,069,635 Restricted stock awards issued 8,510 (8,510 ) — Restricted stock awards forfeited (10,359 ) 10,359 — Stock options exercised 21,320 (21,320 ) — Stock awards 3,914 (3,914 ) — Treasury stock purchases (4,323 ) 4,323 — Shares at September 30, 2017 15,626,294 135,555 15,761,849 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2018 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | (9.) The following table presents the components of other comprehensive income (loss) for the three and nine months ended September 30, 2018 and 2017 (in thousands): Pre-tax Amount Tax Effect Net-of-tax Amount Three months ended September 30, 2018 Securities available for sale and transferred securities: Change in unrealized gain/loss during the period $ (2,532 ) $ (639 ) $ (1,893 ) Reclassification adjustment for net gains included in net income (1) 209 52 157 Total securities available for sale and transferred securities (2,323 ) (587 ) (1,736 ) Hedging derivative instruments: Change in unrealized gain/loss during the period 114 29 85 Pension and post-retirement obligations: Amortization of prior service credit included in income (18 ) (4 ) (14 ) Amortization of net actuarial loss included in income 188 47 141 Total pension and post-retirement obligations 170 43 127 Other comprehensive loss $ (2,039 ) $ (515 ) $ (1,524 ) Nine months ended September 30, 2018 Securities available for sale and transferred securities: Change in unrealized gain/loss during the period $ (14,411 ) $ (3,633 ) $ (10,778 ) Reclassification adjustment for net gains included in net income (1) 381 96 285 Total securities available for sale and transferred securities (14,030 ) (3,537 ) (10,493 ) Hedging derivative instruments: Change in unrealized gain/loss during the period 278 70 208 Pension and post-retirement obligations: Amortization of prior service credit included in income (54 ) (14 ) (40 ) Amortization of net actuarial loss included in income 563 142 421 Total pension and post-retirement obligations 509 128 381 Other comprehensive loss $ (13,243 ) $ (3,339 ) $ (9,904 ) (1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. (9.) Pre-tax Amount Tax Effect Net-of-tax Amount Three months ended September 30, 2017 Securities available for sale and transferred securities: Change in unrealized gain/loss during the period $ 589 $ 226 $ 363 Reclassification adjustment for net gains included in net income (1) (127 ) (48 ) (79 ) Total securities available for sale and transferred securities 462 178 284 Hedging derivative instruments: Change in unrealized gain/loss during the period — — — Pension and post-retirement obligations: Amortization of prior service credit included in income (12 ) (4 ) (8 ) Amortization of net actuarial loss included in income 291 112 179 Total pension and post-retirement obligations 279 108 171 Other comprehensive income $ 741 $ 286 $ 455 Nine months ended September 30, 2017 Securities available for sale and transferred securities: Change in unrealized gain/loss during the period $ 4,747 $ 1,831 $ 2,916 Reclassification adjustment for net gains included in net income (1) (514 ) (198 ) (316 ) Total securities available for sale and transferred securities 4,233 1,633 2,600 Hedging derivative instruments: Change in unrealized gain/loss during the period — — — Pension and post-retirement obligations: Amortization of prior service credit included in income (38 ) (14 ) (24 ) Amortization of net actuarial loss included in income 874 337 537 Total pension and post-retirement obligations 836 323 513 Other comprehensive income $ 5,069 $ 1,956 $ 3,113 (1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. (9.) Activity in accumulated other comprehensive income (loss), net of tax, for the three and nine months ended September 30, 2018 and 2017 was as follows (in thousands): Hedging Derivative Instruments Securities Available for Sale and Transferred Securities Pension and Post- retirement Obligations Accumulated Other Comprehensive Income (Loss) Three months ended September 30, 2018 Balance at beginning of period $ 123 $ (12,032 ) $ (8,387 ) $ (20,296 ) Other comprehensive income (loss) before reclassifications 85 (1,893 ) — (1,808 ) Amounts reclassified from accumulated other comprehensive income (loss) — 157 127 284 Net current period other comprehensive income (loss) 85 (1,736 ) 127 (1,524 ) Balance at end of period $ 208 $ (13,768 ) $ (8,260 ) $ (21,820 ) Nine months ended September 30, 2018 Balance at beginning of period $ — $ (3,275 ) $ (8,641 ) $ (11,916 ) Other comprehensive income (loss) before reclassifications 208 (10,778 ) — (10,570 ) Amounts reclassified from accumulated other comprehensive income (loss) — 285 381 666 Net current period other comprehensive income (loss) 208 (10,493 ) 381 (9,904 ) Balance at end of period $ 208 $ (13,768 ) $ (8,260 ) $ (21,820 ) Three months ended September 30, 2017 Balance at beginning of period $ — $ (1,413 ) $ (9,880 ) $ (11,293 ) Other comprehensive income (loss) before reclassifications — 363 — 363 Amounts reclassified from accumulated other comprehensive income (loss) — (79 ) 171 92 Net current period other comprehensive income (loss) — 284 171 455 Balance at end of period $ — $ (1,129 ) $ (9,709 ) $ (10,838 ) Nine months ended September 30, 2017 Balance at beginning of period $ — $ (3,729 ) $ (10,222 ) $ (13,951 ) Other comprehensive income (loss) before reclassifications — 2,916 — 2,916 Amounts reclassified from accumulated other comprehensive income (loss) — (316 ) 513 197 Net current period other comprehensive income (loss) — 2,600 513 3,113 Balance at end of period $ — $ (1,129 ) $ (9,709 ) $ (10,838 ) (9.) The following table presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2018 and 2017 (in thousands): Details About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statement of Income Three months ended September 30, 2018 2017 Realized (loss) gain on sale of investment securities $ (95 ) $ 184 Net gain on investment securities Amortization of unrealized holding gains (losses) on investment securities transferred from available for sale to held to maturity (114 ) (57 ) Interest income (209 ) 127 Total before tax 52 (48 ) Income tax benefit (expense) (157 ) 79 Net of tax Amortization of pension and post-retirement items: Prior service credit (1) 18 12 Salaries and employee benefits Net actuarial losses (1) (188 ) (291 ) Salaries and employee benefits (170 ) (279 ) Total before tax 43 108 Income tax benefit (127 ) (171 ) Net of tax Total reclassified for the period $ (284 ) $ (92 ) Nine months ended September 30, 2018 2017 Realized (loss) gain on sale of investment securities $ (88 ) $ 600 Net gain on investment securities Amortization of unrealized holding gains (losses) on investment securities transferred from available for sale to held to maturity (293 ) (86 ) Interest income (381 ) 514 Total before tax 96 (198 ) Income tax benefit (expense) (285 ) 316 Net of tax Amortization of pension and post-retirement items: Prior service credit (1) 54 38 Salaries and employee benefits Net actuarial losses (1) (563 ) (874 ) Salaries and employee benefits (509 ) (836 ) Total before tax 128 323 Income tax benefit (381 ) (513 ) Net of tax Total reclassified for the period $ (666 ) $ (197 ) (1) These items are included in the computation of net periodic pension expense. See Note 11 – Employee Benefit Plans for additional information. |
Share-Based Compensation Plans
Share-Based Compensation Plans | 9 Months Ended |
Sep. 30, 2018 | |
Share Based Compensation [Abstract] | |
Share-Based Compensation Plans | (10.) The Company maintains certain stock-based compensation plans, approved by the Company’s shareholders that are administered by the Management Development and Compensation Committee (the “MD&C Committee”) of the Board. The share-based compensation plans were established to allow for the grant of compensation awards to attract, motivate and retain employees, executive officers and non-employee directors who contribute to the long-term growth and profitability of the Company and to give such persons a proprietary interest in the Company, thereby enhancing their personal interest in the Company’s success. The MD&C Committee approved the grant of restricted stock units (“RSUs”) and performance share units (“PSUs”) shown in the table below to certain members of management during the nine months ended September 30, 2018. Number of Underlying Shares Weighted Average Per Share Grant Date Fair Value RSUs 32,655 $ 28.50 PSUs 14,855 27.25 The grant-date fair value for the RSUs granted during the nine months ended September 30, 2018 is equal to the closing market price of our common stock on the date of grant reduced by the present value of the dividends expected to be paid on the underlying shares. The number of PSUs that ultimately vest is contingent on achieving specified total shareholder return (“TSR”) targets relative to the SNL Small Cap Bank & Thrift Index, a market index the MD&C Committee has selected as a peer group for this purpose. The shares will be earned based on the Company’s achievement of a relative TSR performance requirement, on a percentile basis, compared to the SNL Small Cap Bank & Thrift Index over a three-year performance period ended December 31, 2020. The shares earned based on the achievement of the TSR performance requirement, if any, will vest on February 27, 2021 assuming the recipient’s continuous service to the Company. The grant-date fair value of the PSUs granted during the nine months ended September 30, 2018 was determined using the Monte Carlo simulation model on the date of grant, assuming the following (i) expected term of 2.84 years, (ii) risk free interest rate of 2.39%, (iii) expected dividend yield of 2.83% and (iv) expected stock price volatility over the expected term of the TSR award of 21.2%. The Monte Carlo simulation model is a risk analysis method that selects a random value from a range of estimates. During the nine months ended September 30, 2018, the company issued a total of 2,724 shares of common stock in-lieu of cash for the annual retainer of five non-employee directors and granted a total of 7,370 restricted shares of common stock to non-employee directors, of which 3,690 shares vested immediately and 3,680 shares will vest after completion of a one-year service requirement. The market price of the stock and restricted stock on the date of grant was $33.90. The following is a summary of restricted stock awards and restricted stock units activity for the nine months ended September 30, 2018: Number of Shares Weighted Average Market Price at Grant Date Outstanding at beginning of year 130,586 $ 24.32 Granted 54,880 28.89 Vested (23,836 ) 25.74 Forfeited (25,251 ) 11.61 Outstanding at end of period 136,379 $ 28.26 At September 30, 2018, there was $2.0 million of unrecognized compensation expense related to unvested restricted stock awards and restricted stock units that is expected to be recognized over a weighted average period of 1.9 years. (10.) The Company uses the Black-Scholes valuation method to estimate the fair value of its stock option awards. There were no stock options awarded during the first nine months of 2018 or 2017. There was no unrecognized compensation expense related to unvested stock options as of September 30, 2018. The following is a summary of stock option activity for the nine months ended September 30, 2018 (dollars in thousands, except per share amounts): Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at beginning of year 22,199 $ 18.40 Exercised (17,450 ) 18.38 Expired (4,749 ) 18.50 Outstanding and exercisable at end of period — $ — — $ — The aggregate intrinsic value (the amount by which the market price of the stock on the date of exercise exceeded the market price of the stock on the date of grant) of option exercises for the nine months ended September 30, 2018 and 2017 was $236 thousand and $297 thousand, respectively. The total cash received as a result of option exercises under stock compensation plans for the nine months ended September 30, 2018 and 2017 was $320 thousand and $413 thousand, respectively. The Company amortizes the expense related to stock-based compensation awards over the vesting period. Share-based compensation expense is recorded as a component of salaries and employee benefits in the consolidated statements of income for awards granted to management and as a component of other noninterest expense for awards granted to directors. The share-based compensation expense included in the consolidated statements of income, is as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Salaries and employee benefits $ 306 $ 248 $ 872 $ 676 Other noninterest expense 32 32 225 209 Total share-based compensation expense $ 338 $ 280 $ 1,097 $ 885 |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2018 | |
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Employee Benefit Plans | (11.) The components of the Company’s net periodic benefit expense for its pension and post-retirement obligations were as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Service cost $ 836 $ 785 $ 2,509 $ 2,355 Interest cost on projected benefit obligation 598 613 1,793 1,840 Expected return on plan assets (1,321 ) (1,193 ) (3,963 ) (3,581 ) Amortization of unrecognized prior service credit (18 ) (12 ) (54 ) (38 ) Amortization of unrecognized net actuarial loss 188 291 563 874 Net periodic benefit expense $ 283 $ 484 $ 848 $ 1,450 The net periodic benefit expense is recorded as a component of salaries and employee benefits in the consolidated statements of income. The Company’s funding policy is to contribute, at a minimum, an actuarially determined amount that will satisfy the minimum funding requirements determined under the appropriate sections of the Internal Revenue Code. The Company has no minimum required contribution for the 2018 fiscal year. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | (12.) The Company has financial instruments with off-balance sheet risk established in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk extending beyond amounts recognized in the financial statements. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is essentially the same as that involved with extending loans to customers. The Company uses the same credit underwriting policies in making commitments and conditional obligations as for on-balance sheet instruments. Off-balance sheet commitments consist of the following (in thousands): September 30, 2018 December 31, 2017 Commitments to extend credit $ 664,138 $ 661,021 Standby letters of credit 12,707 12,181 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the agreement. Commitments generally have fixed expiration dates or other termination clauses which may require payment of a fee. Commitments may expire without being drawn upon; therefore, the total commitment amounts do not necessarily represent future cash requirements. Each customer’s creditworthiness is evaluated on a case-by-case basis. The amount of collateral obtained, if any, is based on management’s credit evaluation of the borrower. Standby letters of credit are conditional lending commitments issued by the Company to guarantee the performance of a customer to a third party. These standby letters of credit are primarily issued to support private borrowing arrangements. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company also extends rate lock agreements to borrowers related to the origination of residential mortgage loans. To mitigate the interest rate risk inherent in these rate lock agreements when the Company intends to sell the related loan, once originated, as well as closed residential mortgage loans held for sale, the Company enters into forward commitments to sell individual residential mortgages. Rate lock agreements and forward commitments are considered derivatives and are recorded at fair value. Forward sales commitments totaled $6.0 million and $566 thousand at September 30, 2018 and December 31, 2017, respectively. The net change in the fair values of these derivatives was recognized as other noninterest income or other noninterest expense in the consolidated statements of income. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | (13.) Determination of Fair Value – Assets Measured at Fair Value on a Recurring and Nonrecurring Basis Valuation Hierarchy The fair value of an asset or liability is the price that would be received to sell that asset or paid to transfer that liability in an orderly transaction occurring in the principal market (or most advantageous market in the absence of a principal market) for such asset or liability. ASC Topic 820, “Fair Value Measurements and Disclosures,” establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. There have been no changes in the valuation techniques used during the current period. The fair value hierarchy is as follows: • Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. • Level 2 - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means. • Level 3 - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. Transfers between levels of the fair value hierarchy are recorded as of the end of the reporting period. (13.) In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. These adjustments may include amounts to reflect counterparty credit quality and the Company’s creditworthiness, among other things, as well as unobservable parameters. Any such valuation adjustments are applied consistently over time. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. A more detailed description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. Securities available for sale: Securities classified as available for sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Derivative instruments: The fair value of derivative instruments is determined using quoted secondary market prices for similar financial instruments and are classified as Level 2 in the fair value hierarchy. Loans held for sale: The fair value of loans held for sale is determined using quoted secondary market prices and investor commitments. Loans held for sale are classified as Level 2 in the fair value hierarchy. Collateral dependent impaired loans: Fair value of impaired loans with specific allocations of the allowance for loan losses is measured based on the value of the collateral securing these loans and is classified as Level 3 in the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory and/or accounts receivable and collateral value is determined based on appraisals performed by qualified licensed appraisers hired by the Company. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, and/or management’s expertise and knowledge of the client and the client’s business. Such discounts are typically significant and result in a Level 3 classification of the inputs for determining fair value. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors identified above. Loan servicing rights: Loan servicing rights do not trade in an active market with readily observable market data. As a result, the Company estimates the fair value of loan servicing rights by using a discounted cash flow model to calculate the present value of estimated future net servicing income. The assumptions used in the discounted cash flow model are those that we believe market participants would use in estimating future net servicing income, including estimates of loan prepayment rates, servicing costs, ancillary income, impound account balances, and discount rates. The significant unobservable inputs used in the fair value measurement of the Company’s loan servicing rights are the constant prepayment rates and weighted average discount rate. Significant increases (decreases) in any of those inputs in isolation could result in a significantly lower (higher) fair value measurement. Although the constant prepayment rate and the discount rate are not directly interrelated, they will generally move in opposite directions. Loan servicing rights are classified as Level 3 measurements due to the use of significant unobservable inputs, as well as significant management judgment and estimation. Other real estate owned (Foreclosed assets): Nonrecurring adjustments to certain commercial and residential real estate properties classified as other real estate owned are measured at the lower of carrying amount or fair value, less costs to sell. Fair values are generally based on third party appraisals of the property, resulting in a Level 3 classification. The appraisals are sometimes further discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, and/or management’s expertise and knowledge of the client and client’s business. Such discounts are typically significant and result in a Level 3 classification of the inputs for determining fair value. In cases where the carrying amount exceeds the fair value, less costs to sell, an impairment loss is recognized. Commitments to extend credit and letters of credit: Commitments to extend credit and fund letters of credit are principally at current interest rates, and, therefore, the carrying amount approximates fair value. The fair value of commitments is not material. (13.) Assets Measured at Fair Value The following tables present for each of the fair-value hierarchy levels the Company’s assets that are measured at fair value on a recurring and non-recurring basis as of the dates indicated (in thousands). Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total September 30, 2018 Measured on a recurring basis: Securities available for sale: U.S. Government agency and government sponsored enterprises $ — $ 151,809 $ — $ 151,809 Mortgage-backed securities — 306,501 — 306,501 Other assets: Hedging derivative instruments — 1,305 — 1,305 Fair value adjusted through comprehensive income $ — $ 459,615 $ — $ 459,615 Other assets: Derivative instruments - interest rate products $ — $ 298 $ — $ 298 Other liabilities: Derivative instruments - credit contracts — (8 ) — (8 ) Derivative instruments - interest rate products — (348 ) — (348 ) Fair value adjusted through net income $ — $ (58 ) $ — $ (58 ) Measured on a nonrecurring basis: Loans: Loans held for sale $ — $ 3,166 $ — $ 3,166 Collateral dependent impaired loans — — 3,810 3,810 Other assets: Loan servicing rights — — 999 999 Other real estate owned — — 290 290 Total $ — $ 3,166 $ 5,099 $ 8,265 December 31, 2017 Measured on a recurring basis: Securities available for sale: U.S. Government agency and government sponsored enterprises $ — $ 161,889 $ — $ 161,889 Mortgage-backed securities — 363,084 — 363,084 Fair value adjusted through comprehensive income $ — $ 524,973 $ — $ 524,973 Other liabilities: Derivative instruments - credit contracts $ — $ 4 $ — $ 4 Fair value adjusted through net income $ — $ 4 $ — $ 4 Measured on a nonrecurring basis: Loans: Loans held for sale $ — $ 2,718 $ — $ 2,718 Collateral dependent impaired loans — — 3,847 3,847 Other assets: Loan servicing rights — — 990 990 Other real estate owned — — 148 148 Total $ — $ 2,718 $ 4,985 $ 7,703 (13.) There were no transfers between Levels 1 and 2 during the nine months ended September 30, 2018 and 2017. There were no liabilities measured at fair value on a nonrecurring basis during the nine months ended September 30, 2018 and 2017. The following table presents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis for which the Company has utilized Level 3 inputs to determine fair value (dollars in thousands). Asset Fair Value Valuation Technique Unobservable Input Unobservable Input Value or Range Collateral dependent impaired loans $ 3,810 Appraisal of collateral (1) Appraisal adjustments (2) 10% - 50% discount Loan servicing rights 999 Discounted cash flow Discount rate 10.3% (3) Constant prepayment rate 12.8% (3) Other real estate owned 290 Appraisal of collateral (1) Appraisal adjustments (2) 26% - 44% discount (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. (3) Weighted averages. Changes in Level 3 Fair Value Measurements There were no assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as of or during the nine months ended September 30, 2018. Disclosures about Fair Value of Financial Instruments The assumptions used below are expected to approximate those that market participants would use in valuing these financial instruments. Fair value estimates are made at a specific point in time, based on available market information and judgments about the financial instrument, including estimates of timing, amount of expected future cash flows and the credit standing of the issuer. Such estimates do not consider the tax impact of the realization of unrealized gains or losses. In some cases, the fair value estimates cannot be substantiated by comparison to independent markets. In addition, the disclosed fair value may not be realized in the immediate settlement of the financial instrument. Care should be exercised in deriving conclusions about our business, its value or financial position based on the fair value information of financial instruments presented below. The estimated fair value approximates carrying value for cash and cash equivalents, Federal Home Loan Bank (“FHLB”) and Federal Reserve Bank (“FRB”) stock, accrued interest receivable, non-maturity deposits, short-term borrowings and accrued interest payable. (13.) The following presents (in thousands) the carrying amount, estimated fair value, and placement in the fair value measurement hierarchy of the Company’s financial instruments as of the dates indicated. Level in September 30, 2018 December 31, 2017 Fair Value Estimated Estimated Measurement Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $ 117,331 $ 117,331 $ 99,195 $ 99,195 Securities available for sale Level 2 458,310 458,310 524,973 524,973 Securities held to maturity Level 2 459,623 447,718 516,466 512,983 Loans held for sale Level 2 3,166 3,166 2,718 2,718 Loans Level 2 2,950,566 2,904,727 2,696,498 2,660,936 Loans (1) Level 3 3,810 3,810 3,847 3,847 Accrued interest receivable Level 1 12,559 12,559 10,776 10,776 FHLB and FRB stock Level 2 21,997 21,997 27,730 27,730 Derivative instruments – cash flow hedge Level 2 1,305 1,305 — — Derivative instruments – interest rate products Level 2 298 298 — — Financial liabilities: Non-maturity deposits Level 1 2,447,974 2,447,974 2,358,018 2,358,018 Time deposits Level 2 1,037,755 1,030,548 852,156 848,055 Short-term borrowings Level 1 308,200 308,200 446,200 446,200 Long-term borrowings Level 2 39,184 39,451 39,131 41,485 Accrued interest payable Level 1 9,008 9,008 8,038 8,038 Derivative instruments – credit contracts Level 2 8 8 4 4 Derivative instruments – interest rate products Level 2 348 348 — — (1) Comprised of collateral dependent impaired loans. |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Segment Reporting | (14.) The Company has two reportable segments: Banking and Non-Banking. These reportable segments have been identified and organized based on the nature of the underlying products and services applicable to each segment, the type of customers to whom those products and services are offered and the distribution channel through which those products and services are made available. The Banking segment includes all of the Company’s retail and commercial banking operations. The Non-Banking segment includes the activities of SDN, a full-service insurance agency that provides a broad range of insurance services to both personal and business clients, and Courier Capital and HNP Capital, our investment advisor and wealth management firms that provide customized investment management, investment consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Holding company amounts are the primary differences between segment amounts and consolidated totals and are reflected in the Holding Company and Other column below, along with amounts to eliminate balances and transactions between segments. The following tables present information regarding our business segments as of and for the periods indicated (in thousands). Banking Non-Banking Holding Company and Other Consolidated Totals September 30, 2018 Goodwill $ 48,536 $ 19,876 $ — $ 68,412 Other intangible assets, net 249 10,192 — 10,441 Total assets 4,221,168 37,389 (172 ) 4,258,385 December 31, 2017 Goodwill $ 48,536 $ 17,304 $ — $ 65,840 Other intangible assets, net 373 8,490 — 8,863 Total assets 4,069,086 31,466 4,658 4,105,210 Banking Non-Banking (1) Holding Company and Other Consolidated Totals Three months ended September 30, 2018 Net interest income (expense) $ 31,438 $ — $ (617 ) $ 30,821 Provision for loan losses (2,061 ) — — (2,061 ) Noninterest income 6,949 3,118 (169 ) 9,898 Noninterest expense (22,050 ) (2,832 ) (639 ) (25,521 ) Income (loss) before income taxes 14,276 286 (1,425 ) 13,137 Income tax (expense) benefit (2,797 ) (76 ) 313 (2,560 ) Net income (loss) $ 11,479 $ 210 $ (1,112 ) $ 10,577 Nine months ended September 30, 2018 Net interest income (expense) $ 92,387 $ — $ (1,853 ) $ 90,534 Provision for loan losses (5,050 ) — — (5,050 ) Noninterest income 19,754 8,127 (450 ) 27,431 Noninterest expense (62,710 ) (7,647 ) (2,716 ) (73,073 ) Income (loss) before income taxes 44,381 480 (5,019 ) 39,842 Income tax (expense) benefit (8,933 ) (127 ) 1,253 (7,807 ) Net income (loss) $ 35,448 $ 353 $ (3,766 ) $ 32,035 (1) Reflects activity from the acquisition of HNP Capital since June 1, 2018 (the date of acquisition). (14.) Banking Non-Banking (2) Holding Company and Other Consolidated Totals Three months ended September 30, 2017 Net interest income (expense) $ 29,056 $ — $ (618 ) $ 28,438 Provision for loan losses (2,802 ) — — (2,802 ) Noninterest income 6,410 2,315 (151 ) 8,574 Noninterest expense (19,939 ) (1,947 ) (581 ) (22,467 ) Income (loss) before income taxes 12,725 368 (1,350 ) 11,743 Income tax (expense) benefit (3,923 ) (144 ) 603 (3,464 ) Net income (loss) $ 8,802 $ 224 $ (747 ) $ 8,279 Nine months ended September 30, 2017 Net interest income (expense) $ 84,708 $ — $ (1,853 ) $ 82,855 Provision for loan losses (9,415 ) — — (9,415 ) Noninterest income 18,203 6,760 780 25,743 Noninterest expense (58,263 ) (7,209 ) (1,878 ) (67,350 ) Income (loss) before income taxes 35,233 (449 ) (2,951 ) 31,833 Income tax (expense) benefit (10,544 ) (440 ) 1,619 (9,365 ) Net income (loss) $ 24,689 $ (889 ) $ (1,332 ) $ 22,468 (2) Reflects activity from the acquisition of the assets of Robshaw & Julian since August 31, 2017 (the date of acquisition). |
Basis Of Presentation And Sum_2
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Nature Of Operations | Nature of Operations Financial Institutions, Inc. (the “Company”) is a financial holding company organized in 1931 under the laws of New York State (“New York”). The Company provides diversified financial services through its subsidiaries, Five Star Bank, Scott Danahy Naylon, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP Capital”). The Company offers a broad array of deposit, lending and other financial services to individuals, municipalities and businesses in Western and Central New York through its wholly-owned New York chartered banking subsidiary, Five Star Bank (the “Bank”). The Bank also has indirect lending network relationships with franchised automobile dealers in the Capital District of New York and Northern and Central Pennsylvania. SDN provides a broad range of insurance services to personal and business clients across 45 states. Courier Capital and HNP Capital provide customized investment management, investment consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. |
Basis Of Presentation | Basis of Presentation The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The accounting and reporting policies conform to U.S. generally accepted accounting principles (“GAAP”). Certain information and footnote disclosures normally included in financial statements prepared in conformity with GAAP have been condensed or omitted pursuant to such rules and regulations. However, in the opinion of management, the accompanying consolidated financial statements reflect all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated statements of financial condition, income, comprehensive income, changes in shareholders’ equity and cash flows for the periods indicated and contain adequate disclosure to make the information presented not misleading. These consolidated financial statements should be read in conjunction with the Company’s 2017 Annual Report on Form 10-K for the year ended December 31, 2017. The results of operations for any interim periods are not necessarily indicative of the results which may be expected for the entire year. |
Reclassifications | Reclassifications Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. Such reclassifications did not impact net income or shareholders’ equity as previously reported. |
Subsequent Events | Subsequent Events The Company has evaluated events and transactions for potential recognition or disclosure through the day the financial statements were issued and determined there were no material recognizable subsequent events. |
Use Of Estimates | Use of Estimates The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates relate to the determination of the allowance for loan losses, the carrying value of goodwill and deferred tax assets, and assumptions used in the defined benefit pension plan accounting. |
Cash Flow Reporting | Cash Flow Reporting Supplemental cash flow information is summarized as follows for the nine months ended September 30 (in thousands): 2018 2017 Supplemental information: Cash paid for interest $ 19,803 $ 10,189 Cash paid for income taxes 3,790 8,677 Noncash investing and financing activities: Real estate and other assets acquired in settlement of loans 596 379 Accrued and declared unpaid dividends 4,187 3,637 Increase in net unsettled security purchases — 75 Assets acquired and liabilities assumed in business combinations: Fair value of assets acquired 2,561 812 Fair value of liabilities assumed 128 44 |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606). In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. ASU 2016-01 is intended to improve the recognition and measurement of financial instruments by requiring equity investments to be measured at fair value with changes in fair value recognized in net income; requiring entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; requiring separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements; eliminating the requirement for entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured and amortized at cost on the balance sheet; and requiring an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. ASU 2016-01 is effective for annual periods and interim periods within those annual periods, beginning after December 15, 2017. The amendments should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amendments related to equity securities without readily determinable fair values (including disclosure requirements) should be applied prospectively to equity investments that exist as of the date of adoption. The adoption of ASU 2016-01, as of January 1, 2018, did not have a significant impact on the Company’s financial statements, except for the fair value disclosures as presented in Note 13 – Fair Value Measurements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments (1.) In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) – Premium Amortization on Purchased Callable Debt Securities In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities In February 2018, the FASB issued ASU No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220) – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income |
Revenue Recognition | (1.) Revenue Recognition Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”), establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The majority of our revenue-generating transactions are not subject to ASC 606, including revenue generated from financial instruments, such as our loans, letters of credit, derivatives and investment securities, as well as revenue related to our loan servicing activities, as these activities are subject to other GAAP. Descriptions of our primary revenue-generating activities that are within the scope of ASC 606, which are presented in our income statements as components of noninterest income are as follows: • Transactions and service-based revenues - these include service charges on deposits, investment advisory, and ATM and debit card fees. Revenue is recognized when the transactions occur or as services are performed over primarily monthly or quarterly periods. Payment is typically received in the period the transactions occur or, in some cases, within 90 days of the service period. Fees may be fixed or, where applicable, based on a percentage of transaction size or managed assets. • Insurance income - Insurance commissions are received on the sale of insurance products, and revenue is recognized upon the placement date of the insurance policies. Payment is normally received within the policy period. In addition to placement, SDN also provides insurance policy related risk management services. Revenue is recognized as these services are provided. |
Basis Of Presentation And Sum_3
Basis Of Presentation And Summary Of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary Of Supplemental Cash Flow Information | 2018 2017 Supplemental information: Cash paid for interest $ 19,803 $ 10,189 Cash paid for income taxes 3,790 8,677 Noncash investing and financing activities: Real estate and other assets acquired in settlement of loans 596 379 Accrued and declared unpaid dividends 4,187 3,637 Increase in net unsettled security purchases — 75 Assets acquired and liabilities assumed in business combinations: Fair value of assets acquired 2,561 812 Fair value of liabilities assumed 128 44 |
Earnings Per Common Share ("E_2
Earnings Per Common Share ("EPS") (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation Of Earnings And Shares Used In Calculating Basic And Diluted EPS | The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS (in thousands, except per share amounts). Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Net income available to common shareholders $ 10,212 $ 7,913 $ 30,939 $ 21,371 Weighted average common shares outstanding: Total shares issued 16,056 15,448 16,056 15,002 Unvested restricted stock awards (4 ) (44 ) (9 ) (48 ) Treasury shares (131 ) (136 ) (141 ) (148 ) Total basic weighted average common shares outstanding 15,921 15,268 15,906 14,806 Incremental shares from assumed: Exercise of stock options — 7 3 11 Vesting of restricted stock awards 43 27 42 30 Total diluted weighted average common shares outstanding 15,964 15,302 15,951 14,847 Basic earnings per common share $ 0.64 $ 0.52 $ 1.95 $ 1.44 Diluted earnings per common share $ 0.64 $ 0.52 $ 1.94 $ 1.44 |
Shares Excluded From Computation Of Diluted EPS | EPS because the effect would be antidilutive: Stock options — — — — Restricted stock awards 7 — 6 2 Total 7 — 6 2 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Investments [Abstract] | |
Amortized Cost And Fair Value Of Investment Securities | Amortized Unrealized Unrealized Fair Cost Gains Losses Value September 30, 2018 Securities available for sale: U.S. Government agency and government sponsored enterprises $ 157,786 — $ 5,977 $ 151,809 Mortgage-backed securities: Federal National Mortgage Association 275,416 39 10,778 264,677 Federal Home Loan Mortgage Corporation 37,088 10 1,847 35,251 Government National Mortgage Association 5,650 21 126 5,545 Collateralized mortgage obligations: Federal National Mortgage Association 139 — — 139 Federal Home Loan Mortgage Corporation 39 — — 39 Privately issued — 850 — 850 Total mortgage-backed securities 318,332 920 12,751 306,501 Total available for sale securities $ 476,118 $ 920 $ 18,728 $ 458,310 Securities held to maturity: State and political subdivisions 241,637 519 2,192 239,964 Mortgage-backed securities: Federal National Mortgage Association 12,032 — 467 11,565 Federal Home Loan Mortgage Corporation 4,616 — 272 4,344 Government National Mortgage Association 35,708 — 1,253 34,455 Collateralized mortgage obligations: Federal National Mortgage Association 65,130 — 3,270 61,860 Federal Home Loan Mortgage Corporation 81,676 — 4,103 77,573 Government National Mortgage Association 18,824 — 867 17,957 Total mortgage-backed securities 217,986 — 10,232 207,754 Total held to maturity securities $ 459,623 $ 519 $ 12,424 $ 447,718 December 31, 2017 Securities available for sale: U.S. Government agency and government sponsored enterprises $ 163,025 $ 122 $ 1,258 $ 161,889 Mortgage-backed securities: Federal National Mortgage Association 311,830 313 3,220 308,923 Federal Home Loan Mortgage Corporation 41,290 76 675 40,691 Government National Mortgage Association 12,051 193 12 12,232 Collateralized mortgage obligations: Federal National Mortgage Association 217 1 1 217 Federal Home Loan Mortgage Corporation 45 — — 45 Privately issued — 976 — 976 Total mortgage-backed securities 365,433 1,559 3,908 363,084 Total available for sale securities $ 528,458 $ 1,681 $ 5,166 $ 524,973 (4.) Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2017 (continued) Securities held to maturity: State and political subdivisions 283,557 2,317 662 285,212 Mortgage-backed securities: Federal National Mortgage Association 9,732 16 88 9,660 Federal Home Loan Mortgage Corporation 3,213 — 119 3,094 Government National Mortgage Association 26,841 — 330 26,511 Collateralized mortgage obligations: Federal National Mortgage Association 76,432 — 1,958 74,474 Federal Home Loan Mortgage Corporation 93,810 3 2,165 91,648 Government National Mortgage Association 22,881 5 502 22,384 Total mortgage-backed securities 232,909 24 5,162 227,771 Total held to maturity securities $ 516,466 $ 2,341 $ 5,824 $ 512,983 |
Sales And Calls Of Securities Available For Sale | Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Proceeds from sales $ 21,470 $ 24,117 $ 27,238 $ 49,424 Gross realized gains 64 190 73 606 Gross realized losses 159 6 161 6 |
Scheduled Maturities Of Securities Available For Sale And Securities Held To Maturity | Amortized Fair Cost Value Debt securities available for sale: Due in one year or less $ 35,676 $ 35,471 Due from one to five years 139,223 135,043 Due after five years through ten years 214,640 204,681 Due after ten years 86,579 83,115 Total available for sale securities $ 476,118 $ 458,310 Debt securities held to maturity: Due in one year or less $ 49,829 $ 49,878 Due from one to five years 150,749 150,479 Due after five years through ten years 83,277 79,898 Due after ten years 175,768 167,463 Total held to maturity securities $ 459,623 $ 447,718 |
Investments Gross Unrealized Losses And Fair Value | Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses September 30, 2018 Securities available for sale: U.S. Government agency and government sponsored enterprises $ 88,647 $ 2,621 $ 63,162 $ 3,356 $ 151,809 $ 5,977 Mortgage-backed securities: Federal National Mortgage Association 54,316 1,380 208,371 9,398 262,687 10,778 Federal Home Loan Mortgage Corporation 2,374 80 32,041 1,767 34,415 1,847 Government National Mortgage Association 4,125 121 742 5 4,867 126 Collateralized mortgage obligations: Federal National Mortgage Association — — 58 — 58 — Federal Home Loan Mortgage Corporation — — 6 — 6 — Total mortgage-backed securities 60,815 1,581 241,218 11,170 302,033 12,751 Total available for sale securities 149,462 4,202 304,380 14,526 453,842 18,728 Securities held to maturity: State and political subdivisions 105,290 858 28,646 1,334 133,936 2,192 Mortgage-backed securities: Federal National Mortgage Association 5,467 151 6,098 316 11,565 467 Federal Home Loan Mortgage Corporation 1,455 30 2,889 242 4,344 272 Government National Mortgage Association 17,258 374 17,197 879 34,455 1,253 Collateralized mortgage obligations: Federal National Mortgage Association 1,982 41 59,878 3,229 61,860 3,270 Federal Home Loan Mortgage Corporation 9,845 390 67,728 3,713 77,573 4,103 Government National Mortgage Association 1,020 15 16,937 852 17,957 867 Total mortgage-backed securities 37,027 1,001 170,727 9,231 207,754 10,232 Total held to maturity securities 142,317 1,859 199,373 10,565 341,690 12,424 Total temporarily impaired securities $ 291,779 $ 6,061 $ 503,753 $ 25,091 $ 795,532 $ 31,152 December 31, 2017 Securities available for sale: U.S. Government agencies and government sponsored enterprises $ 95,046 $ 571 $ 31,561 $ 687 $ 126,607 $ 1,258 Mortgage-backed securities: Federal National Mortgage Association 201,754 1,855 67,383 1,365 269,137 3,220 Federal Home Loan Mortgage Corporation 20,446 192 15,601 483 36,047 675 Government National Mortgage Association 2,432 — 880 12 3,312 12 Collateralized mortgage obligations: Federal National Mortgage Association — — 119 1 119 1 Federal Home Loan Mortgage Corporation — — 8 — 8 — Total mortgage-backed securities 224,632 2,047 83,991 1,861 308,623 3,908 Total available for sale securities 319,678 2,618 115,552 2,548 435,230 5,166 (4.) Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses December 31, 2017 (continued) Securities held to maturity: State and political subdivisions 36,368 295 14,492 367 50,860 662 Mortgage-backed securities: Federal National Mortgage Association 3,766 29 2,694 59 6,460 88 Federal Home Loan Mortgage Corporation — — 3,094 119 3,094 119 Government National Mortgage Association 17,327 136 9,184 194 26,511 330 Collateralized mortgage obligations: Federal National Mortgage Association 16,830 202 57,645 1,756 74,475 1,958 Federal Home Loan Mortgage Corporation 23,727 337 66,467 1,828 90,194 2,165 Government National Mortgage Association 15,401 340 5,635 162 21,036 502 Total mortgage-backed securities 77,051 1,044 144,719 4,118 221,770 5,162 Total held to maturity securities 113,419 1,339 159,211 4,485 272,630 5,824 Total temporarily impaired securities $ 433,097 $ 3,957 $ 274,763 $ 7,033 $ 707,860 $ 10,990 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Loans And Leases Receivable Disclosure [Abstract] | |
Loan Portfolio | Principal Amount Outstanding Net Deferred Loan (Fees) Costs Loans, Net September 30, 2018 Commercial business $ 537,160 $ 782 $ 537,942 Commercial mortgage 907,107 (2,096 ) 905,011 Residential real estate loans 498,883 8,715 507,598 Residential real estate lines 108,227 2,977 111,204 Consumer indirect 878,316 31,118 909,434 Other consumer 16,975 167 17,142 Total $ 2,946,668 $ 41,663 2,988,331 Allowance for loan losses (33,955 ) Total loans, net $ 2,954,376 December 31, 2017 Commercial business $ 449,763 $ 563 $ 450,326 Commercial mortgage 810,851 (1,943 ) 808,908 Residential real estate loans 457,761 7,522 465,283 Residential real estate lines 113,422 2,887 116,309 Consumer indirect 845,682 30,888 876,570 Other consumer 17,443 178 17,621 Total $ 2,694,922 $ 40,095 2,735,017 Allowance for loan losses (34,672 ) Total loans, net $ 2,700,345 |
Recorded Investment By Loan Class In Current And Nonaccrual Loans | 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Total Past Due Nonaccrual Current Total Loans September 30, 2018 Commercial business $ 364 $ — $ — $ 364 $ 2,203 $ 534,593 $ 537,160 Commercial mortgage 916 — — 916 1,900 904,291 907,107 Residential real estate loans 871 55 — 926 2,057 495,900 498,883 Residential real estate lines 185 — — 185 297 107,745 108,227 Consumer indirect 2,327 544 — 2,871 1,385 874,060 878,316 Other consumer 118 6 8 132 — 16,843 16,975 Total loans, gross $ 4,781 $ 605 $ 8 $ 5,394 $ 7,842 $ 2,933,432 $ 2,946,668 December 31, 2017 Commercial business $ 64 $ 36 $ — $ 100 $ 5,344 $ 444,319 $ 449,763 Commercial mortgage 56 375 — 431 2,623 807,797 810,851 Residential real estate loans 1,908 56 — 1,964 2,252 453,545 457,761 Residential real estate lines 349 — — 349 404 112,669 113,422 Consumer indirect 2,806 672 — 3,478 1,895 840,309 845,682 Other consumer 174 15 11 200 2 17,241 17,443 Total loans, gross $ 5,357 $ 1,154 $ 11 $ 6,522 $ 12,520 $ 2,675,880 $ 2,694,922 |
Summary Of Impaired Loans | Recorded Investment (1) Unpaid Principal Balance (1) Related Allowance Average Recorded Investment Interest Income Recognized September 30, 2018 With no related allowance recorded: Commercial business $ 1,155 $ 2,090 $ — $ 1,307 $ — Commercial mortgage 525 525 — 568 — 1,680 2,615 — 1,875 — With an allowance recorded: Commercial business 1,183 1,183 431 2,931 — Commercial mortgage 1,838 1,838 460 2,132 — 3,021 3,021 891 5,063 — $ 4,701 $ 5,636 $ 891 $ 6,938 $ — December 31, 2017 With no related allowance recorded: Commercial business $ 1,635 $ 2,370 $ — $ 853 $ — Commercial mortgage 584 584 — 621 — 2,219 2,954 — 1,474 — With an allowance recorded: Commercial business 3,853 3,853 2,056 4,468 — Commercial mortgage 2,528 2,528 115 1,516 — 6,381 6,381 2,171 5,984 — $ 8,600 $ 9,335 $ 2,171 $ 7,458 $ — (1) Difference between recorded investment and unpaid principal balance represents partial charge-offs. |
Commercial Loan Portfolio Categorized By Internally Assigned Asset Classification | Commercial Business Commercial Mortgage September 30, 2018 Uncriticized $ 505,865 $ 889,608 Special mention 21,141 10,221 Substandard 10,154 7,278 Doubtful — — Total $ 537,160 $ 907,107 December 31, 2017 Uncriticized $ 429,692 $ 791,127 Special mention 7,120 12,185 Substandard 12,951 7,539 Doubtful — — Total $ 449,763 $ 810,851 |
Retail Loan Portfolio Categorized By Payment Status | Residential Real Estate Loans Residential Real Estate Lines Consumer Indirect Other Consumer September 30, 2018 Performing $ 496,826 $ 107,930 $ 876,931 $ 16,967 Non-performing 2,057 297 1,385 8 Total $ 498,883 $ 108,227 $ 878,316 $ 16,975 December 31, 2017 Performing $ 455,509 $ 113,018 $ 843,787 $ 17,430 Non-performing 2,252 404 1,895 13 Total $ 457,761 $ 113,422 $ 845,682 $ 17,443 |
Changes In The Allowance For Loan Losses | Commercial Business Commercial Mortgage Residential Real Estate Loans Residential Real Estate Lines Consumer Indirect Other Consumer Total September 30, 2018 Loans: Ending balance $ 537,160 $ 907,107 $ 498,883 $ 108,227 $ 878,316 $ 16,975 $ 2,946,668 Evaluated for impairment: Individually $ 2,338 $ 2,363 $ — $ — $ — $ — $ 4,701 Collectively $ 534,822 $ 904,744 $ 498,883 $ 108,227 $ 878,316 $ 16,975 $ 2,941,967 Allowance for loan losses: Ending balance $ 14,231 $ 5,422 $ 1,305 $ 212 $ 12,355 $ 430 $ 33,955 Evaluated for impairment: Individually $ 431 $ 460 $ — $ — $ — $ — $ 891 Collectively $ 13,800 $ 4,962 $ 1,305 $ 212 $ 12,355 $ 430 $ 33,064 September 30, 2017 Loans: Ending balance $ 418,873 $ 759,898 $ 438,936 $ 114,747 $ 827,154 $ 17,460 $ 2,577,068 Evaluated for impairment: Individually $ 7,126 $ 2,459 $ — $ — $ — $ — $ 9,585 Collectively $ 411,747 $ 757,439 $ 438,936 $ 114,747 $ 827,154 $ 17,460 $ 2,567,483 Allowance for loan losses: Ending balance $ 15,749 $ 3,727 $ 1,161 $ 157 $ 13,217 $ 336 $ 34,347 Evaluated for impairment: Individually $ 2,658 $ 171 $ — $ — $ — $ — $ 2,829 Collectively $ 13,091 $ 3,556 $ 1,161 $ 157 $ 13,217 $ 336 $ 31,518 Commercial Business Commercial Mortgage Residential Real Estate Loans Residential Real Estate Lines Consumer Indirect Other Consumer Total Three months ended September 30, 2018 Beginning balance $ 14,242 $ 5,371 $ 1,255 $ 248 $ 12,520 $ 319 $ 33,955 Charge-offs (672 ) (113 ) (24 ) (23 ) (2,474 ) (301 ) (3,607 ) Recoveries 241 3 8 2 1,228 64 1,546 Provision (credit) 420 161 66 (15 ) 1,081 348 2,061 Ending balance $ 14,231 $ 5,422 $ 1,305 $ 212 $ 12,355 $ 430 $ 33,955 Nine months ended September 30, 2018 Beginning balance $ 15,668 $ 3,696 $ 1,322 $ 180 $ 13,415 $ 391 $ 34,672 Charge-offs (1,113 ) (117 ) (53 ) (124 ) (8,089 ) (969 ) (10,465 ) Recoveries 438 11 140 17 3,862 230 4,698 Provision (credit) (762 ) 1,832 (104 ) 139 3,167 778 5,050 Ending balance $ 14,231 $ 5,422 $ 1,305 $ 212 $ 12,355 $ 430 $ 33,955 Commercial Business Commercial Mortgage Residential Real Estate Loans Residential Real Estate Lines Consumer Indirect Other Consumer Total Three months ended September 30, 2017 Beginning balance $ 14,622 $ 3,906 $ 1,247 $ 232 $ 12,833 $ 319 $ 33,159 Charge-offs (130 ) — (198 ) (21 ) (2,330 ) (230 ) (2,909 ) Recoveries 86 5 37 2 1,086 79 1,295 Provision (credit) 1,171 (184 ) 75 (56 ) 1,628 168 2,802 Ending balance $ 15,749 $ 3,727 $ 1,161 $ 157 $ 13,217 $ 336 $ 34,347 Nine months ended September 30, 2017 Beginning balance $ 7,225 $ 10,315 $ 1,478 $ 303 $ 11,311 $ 302 $ 30,934 Charge-offs (1,908 ) (10 ) (298 ) (64 ) (7,343 ) (620 ) (10,243 ) Recoveries 332 257 85 58 3,259 250 4,241 Provision (credit) 10,100 (6,835 ) (104 ) (140 ) 5,990 404 9,415 Ending balance $ 15,749 $ 3,727 $ 1,161 $ 157 $ 13,217 $ 336 $ 34,347 |
Goodwill And Other Intangible_2
Goodwill And Other Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Changes In Carrying Amount Of Goodwill | Banking Non-Banking Total Balance, December 31, 2017 $ 48,536 $ 17,304 $ 65,840 Acquisition — 2,572 2,572 Balance, September 30, 2018 $ 48,536 $ 19,876 $ 68,412 |
Gross Carrying Amount Accumulated Amortization and Net Book Value | September 30, December 31, 2018 2017 Other intangibles assets: Gross carrying amount $ 15,925 $ 13,420 Accumulated amortization (5,484 ) (4,557 ) Net book value $ 10,441 $ 8,863 |
Estimated Core Deposit Intangible Amortization Expense | 2018 (remainder of year) $ 330 2019 1,250 2020 1,134 2021 1,014 2022 923 2023 852 |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Fair Values of Derivative Instruments on the Balance Sheet | Asset derivatives Liability derivatives Gross notional amount Balance Fair value Balance Fair value Sept. 30, 2018 Dec. 31, 2017 sheet line item Sept. 30, 2018 Dec. 31, 2017 sheet line item Sept. 30, 2018 Dec. 31, 2017 Derivatives designated as hedging instruments Cash flow hedges $ 100,000 $ — Other $ 1,305 $ — Other liabilities $ — $ — Total derivatives $ 100,000 $ — $ 1,305 $ — $ — $ — Derivatives not designated as hedging instruments Interest rate swaps $ 35,915 $ — Other assets $ 298 $ — Other liabilities $ 348 $ — Credit contracts 34,741 12,282 Other assets — — Other liabilities 8 4 Total derivatives $ 70,656 $ 12,282 $ 298 $ — $ 356 $ 4 |
Effect of Derivative Instruments on the Income Statement | Gain (loss) recognized in income Gain (loss) recognized in income Line item of gain (loss) Three months ended September 30, Nine months ended September 30, Undesignated derivatives recognized in income 2018 2017 2018 2017 Interest rate swaps Net gain on derivative instruments $ 349 $ — $ 419 $ — Credit contracts Net gain on derivative instruments 5 127 187 127 Total undesignated $ 354 $ 127 $ 606 $ 127 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Stockholders Equity Note [Abstract] | |
Changes In Shares Of Common Stock | Outstanding Treasury Issued September 30, 2018 Shares at December 31, 2017 15,924,938 131,240 16,056,178 Restricted stock awards issued 7,370 (7,370 ) — Restricted stock awards forfeited (23,901 ) 23,901 — Stock options exercised 17,450 (17,450 ) — Stock awards 2,724 (2,724 ) — Treasury stock purchases (3,622 ) 3,622 — Shares at September 30, 2018 15,924,959 131,219 16,056,178 September 30, 2017 Shares at December 31, 2016 14,537,597 154,617 14,692,214 Common stock issued for "at-the-market" equity offering 1,069,635 — 1,069,635 Restricted stock awards issued 8,510 (8,510 ) — Restricted stock awards forfeited (10,359 ) 10,359 — Stock options exercised 21,320 (21,320 ) — Stock awards 3,914 (3,914 ) — Treasury stock purchases (4,323 ) 4,323 — Shares at September 30, 2017 15,626,294 135,555 15,761,849 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract] | |
Components Of Other Comprehensive Income (Loss) | Pre-tax Amount Tax Effect Net-of-tax Amount Three months ended September 30, 2018 Securities available for sale and transferred securities: Change in unrealized gain/loss during the period $ (2,532 ) $ (639 ) $ (1,893 ) Reclassification adjustment for net gains included in net income (1) 209 52 157 Total securities available for sale and transferred securities (2,323 ) (587 ) (1,736 ) Hedging derivative instruments: Change in unrealized gain/loss during the period 114 29 85 Pension and post-retirement obligations: Amortization of prior service credit included in income (18 ) (4 ) (14 ) Amortization of net actuarial loss included in income 188 47 141 Total pension and post-retirement obligations 170 43 127 Other comprehensive loss $ (2,039 ) $ (515 ) $ (1,524 ) Nine months ended September 30, 2018 Securities available for sale and transferred securities: Change in unrealized gain/loss during the period $ (14,411 ) $ (3,633 ) $ (10,778 ) Reclassification adjustment for net gains included in net income (1) 381 96 285 Total securities available for sale and transferred securities (14,030 ) (3,537 ) (10,493 ) Hedging derivative instruments: Change in unrealized gain/loss during the period 278 70 208 Pension and post-retirement obligations: Amortization of prior service credit included in income (54 ) (14 ) (40 ) Amortization of net actuarial loss included in income 563 142 421 Total pension and post-retirement obligations 509 128 381 Other comprehensive loss $ (13,243 ) $ (3,339 ) $ (9,904 ) (1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. Pre-tax Amount Tax Effect Net-of-tax Amount Three months ended September 30, 2017 Securities available for sale and transferred securities: Change in unrealized gain/loss during the period $ 589 $ 226 $ 363 Reclassification adjustment for net gains included in net income (1) (127 ) (48 ) (79 ) Total securities available for sale and transferred securities 462 178 284 Hedging derivative instruments: Change in unrealized gain/loss during the period — — — Pension and post-retirement obligations: Amortization of prior service credit included in income (12 ) (4 ) (8 ) Amortization of net actuarial loss included in income 291 112 179 Total pension and post-retirement obligations 279 108 171 Other comprehensive income $ 741 $ 286 $ 455 Nine months ended September 30, 2017 Securities available for sale and transferred securities: Change in unrealized gain/loss during the period $ 4,747 $ 1,831 $ 2,916 Reclassification adjustment for net gains included in net income (1) (514 ) (198 ) (316 ) Total securities available for sale and transferred securities 4,233 1,633 2,600 Hedging derivative instruments: Change in unrealized gain/loss during the period — — — Pension and post-retirement obligations: Amortization of prior service credit included in income (38 ) (14 ) (24 ) Amortization of net actuarial loss included in income 874 337 537 Total pension and post-retirement obligations 836 323 513 Other comprehensive income $ 5,069 $ 1,956 $ 3,113 (1) Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. |
Components Of Accumulated Other Comprehensive Income (Loss) | Hedging Derivative Instruments Securities Available for Sale and Transferred Securities Pension and Post- retirement Obligations Accumulated Other Comprehensive Income (Loss) Three months ended September 30, 2018 Balance at beginning of period $ 123 $ (12,032 ) $ (8,387 ) $ (20,296 ) Other comprehensive income (loss) before reclassifications 85 (1,893 ) — (1,808 ) Amounts reclassified from accumulated other comprehensive income (loss) — 157 127 284 Net current period other comprehensive income (loss) 85 (1,736 ) 127 (1,524 ) Balance at end of period $ 208 $ (13,768 ) $ (8,260 ) $ (21,820 ) Nine months ended September 30, 2018 Balance at beginning of period $ — $ (3,275 ) $ (8,641 ) $ (11,916 ) Other comprehensive income (loss) before reclassifications 208 (10,778 ) — (10,570 ) Amounts reclassified from accumulated other comprehensive income (loss) — 285 381 666 Net current period other comprehensive income (loss) 208 (10,493 ) 381 (9,904 ) Balance at end of period $ 208 $ (13,768 ) $ (8,260 ) $ (21,820 ) Three months ended September 30, 2017 Balance at beginning of period $ — $ (1,413 ) $ (9,880 ) $ (11,293 ) Other comprehensive income (loss) before reclassifications — 363 — 363 Amounts reclassified from accumulated other comprehensive income (loss) — (79 ) 171 92 Net current period other comprehensive income (loss) — 284 171 455 Balance at end of period $ — $ (1,129 ) $ (9,709 ) $ (10,838 ) Nine months ended September 30, 2017 Balance at beginning of period $ — $ (3,729 ) $ (10,222 ) $ (13,951 ) Other comprehensive income (loss) before reclassifications — 2,916 — 2,916 Amounts reclassified from accumulated other comprehensive income (loss) — (316 ) 513 197 Net current period other comprehensive income (loss) — 2,600 513 3,113 Balance at end of period $ — $ (1,129 ) $ (9,709 ) $ (10,838 ) |
Amounts Reclassified Out Of Each Component Of Accumulated Other Comprehensive Income (Loss) | Details About Accumulated Other Comprehensive Income (Loss) Components Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line Item in the Consolidated Statement of Income Three months ended September 30, 2018 2017 Realized (loss) gain on sale of investment securities $ (95 ) $ 184 Net gain on investment securities Amortization of unrealized holding gains (losses) on investment securities transferred from available for sale to held to maturity (114 ) (57 ) Interest income (209 ) 127 Total before tax 52 (48 ) Income tax benefit (expense) (157 ) 79 Net of tax Amortization of pension and post-retirement items: Prior service credit (1) 18 12 Salaries and employee benefits Net actuarial losses (1) (188 ) (291 ) Salaries and employee benefits (170 ) (279 ) Total before tax 43 108 Income tax benefit (127 ) (171 ) Net of tax Total reclassified for the period $ (284 ) $ (92 ) Nine months ended September 30, 2018 2017 Realized (loss) gain on sale of investment securities $ (88 ) $ 600 Net gain on investment securities Amortization of unrealized holding gains (losses) on investment securities transferred from available for sale to held to maturity (293 ) (86 ) Interest income (381 ) 514 Total before tax 96 (198 ) Income tax benefit (expense) (285 ) 316 Net of tax Amortization of pension and post-retirement items: Prior service credit (1) 54 38 Salaries and employee benefits Net actuarial losses (1) (563 ) (874 ) Salaries and employee benefits (509 ) (836 ) Total before tax 128 323 Income tax benefit (381 ) (513 ) Net of tax Total reclassified for the period $ (666 ) $ (197 ) (1) These items are included in the computation of net periodic pension expense. See Note 11 – Employee Benefit Plans for additional information. |
Share-Based Compensation Plans
Share-Based Compensation Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Share Based Compensation [Abstract] | |
Summary Of Restricted Stock Units And Performance Share Units Activity | Number of Underlying Shares Weighted Average Per Share Grant Date Fair Value RSUs 32,655 $ 28.50 PSUs 14,855 27.25 |
Summary Of Restricted Stock Awards Activity | Number of Shares Weighted Average Market Price at Grant Date Outstanding at beginning of year 130,586 $ 24.32 Granted 54,880 28.89 Vested (23,836 ) 25.74 Forfeited (25,251 ) 11.61 Outstanding at end of period 136,379 $ 28.26 |
Summary Of Stock Option Activity | Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at beginning of year 22,199 $ 18.40 Exercised (17,450 ) 18.38 Expired (4,749 ) 18.50 Outstanding and exercisable at end of period — $ — — $ — |
Share-Based Compensation Expense Included In Consolidated Statements Of Income | Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Salaries and employee benefits $ 306 $ 248 $ 872 $ 676 Other noninterest expense 32 32 225 209 Total share-based compensation expense $ 338 $ 280 $ 1,097 $ 885 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract] | |
Components Of Net Periodic Benefit Expense | Three months ended September 30, Nine months ended September 30, 2018 2017 2018 2017 Service cost $ 836 $ 785 $ 2,509 $ 2,355 Interest cost on projected benefit obligation 598 613 1,793 1,840 Expected return on plan assets (1,321 ) (1,193 ) (3,963 ) (3,581 ) Amortization of unrecognized prior service credit (18 ) (12 ) (54 ) (38 ) Amortization of unrecognized net actuarial loss 188 291 563 874 Net periodic benefit expense $ 283 $ 484 $ 848 $ 1,450 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Off-Balance Sheet Commitments | September 30, 2018 December 31, 2017 Commitments to extend credit $ 664,138 $ 661,021 Standby letters of credit 12,707 12,181 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets Measured At Fair Value On A Recurring And Non-Recurring Basis | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total September 30, 2018 Measured on a recurring basis: Securities available for sale: U.S. Government agency and government sponsored enterprises $ — $ 151,809 $ — $ 151,809 Mortgage-backed securities — 306,501 — 306,501 Other assets: Hedging derivative instruments — 1,305 — 1,305 Fair value adjusted through comprehensive income $ — $ 459,615 $ — $ 459,615 Other assets: Derivative instruments - interest rate products $ — $ 298 $ — $ 298 Other liabilities: Derivative instruments - credit contracts — (8 ) — (8 ) Derivative instruments - interest rate products — (348 ) — (348 ) Fair value adjusted through net income $ — $ (58 ) $ — $ (58 ) Measured on a nonrecurring basis: Loans: Loans held for sale $ — $ 3,166 $ — $ 3,166 Collateral dependent impaired loans — — 3,810 3,810 Other assets: Loan servicing rights — — 999 999 Other real estate owned — — 290 290 Total $ — $ 3,166 $ 5,099 $ 8,265 December 31, 2017 Measured on a recurring basis: Securities available for sale: U.S. Government agency and government sponsored enterprises $ — $ 161,889 $ — $ 161,889 Mortgage-backed securities — 363,084 — 363,084 Fair value adjusted through comprehensive income $ — $ 524,973 $ — $ 524,973 Other liabilities: Derivative instruments - credit contracts $ — $ 4 $ — $ 4 Fair value adjusted through net income $ — $ 4 $ — $ 4 Measured on a nonrecurring basis: Loans: Loans held for sale $ — $ 2,718 $ — $ 2,718 Collateral dependent impaired loans — — 3,847 3,847 Other assets: Loan servicing rights — — 990 990 Other real estate owned — — 148 148 Total $ — $ 2,718 $ 4,985 $ 7,703 |
Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis | Asset Fair Value Valuation Technique Unobservable Input Unobservable Input Value or Range Collateral dependent impaired loans $ 3,810 Appraisal of collateral (1) Appraisal adjustments (2) 10% - 50% discount Loan servicing rights 999 Discounted cash flow Discount rate 10.3% (3) Constant prepayment rate 12.8% (3) Other real estate owned 290 Appraisal of collateral (1) Appraisal adjustments (2) 26% - 44% discount (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. (3) Weighted averages. |
Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments | Level in September 30, 2018 December 31, 2017 Fair Value Estimated Estimated Measurement Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial assets: Cash and cash equivalents Level 1 $ 117,331 $ 117,331 $ 99,195 $ 99,195 Securities available for sale Level 2 458,310 458,310 524,973 524,973 Securities held to maturity Level 2 459,623 447,718 516,466 512,983 Loans held for sale Level 2 3,166 3,166 2,718 2,718 Loans Level 2 2,950,566 2,904,727 2,696,498 2,660,936 Loans (1) Level 3 3,810 3,810 3,847 3,847 Accrued interest receivable Level 1 12,559 12,559 10,776 10,776 FHLB and FRB stock Level 2 21,997 21,997 27,730 27,730 Derivative instruments – cash flow hedge Level 2 1,305 1,305 — — Derivative instruments – interest rate products Level 2 298 298 — — Financial liabilities: Non-maturity deposits Level 1 2,447,974 2,447,974 2,358,018 2,358,018 Time deposits Level 2 1,037,755 1,030,548 852,156 848,055 Short-term borrowings Level 1 308,200 308,200 446,200 446,200 Long-term borrowings Level 2 39,184 39,451 39,131 41,485 Accrued interest payable Level 1 9,008 9,008 8,038 8,038 Derivative instruments – credit contracts Level 2 8 8 4 4 Derivative instruments – interest rate products Level 2 348 348 — — (1) Comprised of collateral dependent impaired loans. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Business Segment Assets | Banking Non-Banking Holding Company and Other Consolidated Totals September 30, 2018 Goodwill $ 48,536 $ 19,876 $ — $ 68,412 Other intangible assets, net 249 10,192 — 10,441 Total assets 4,221,168 37,389 (172 ) 4,258,385 December 31, 2017 Goodwill $ 48,536 $ 17,304 $ — $ 65,840 Other intangible assets, net 373 8,490 — 8,863 Total assets 4,069,086 31,466 4,658 4,105,210 |
Business Segment Profit (Loss) | Banking Non-Banking (1) Holding Company and Other Consolidated Totals Three months ended September 30, 2018 Net interest income (expense) $ 31,438 $ — $ (617 ) $ 30,821 Provision for loan losses (2,061 ) — — (2,061 ) Noninterest income 6,949 3,118 (169 ) 9,898 Noninterest expense (22,050 ) (2,832 ) (639 ) (25,521 ) Income (loss) before income taxes 14,276 286 (1,425 ) 13,137 Income tax (expense) benefit (2,797 ) (76 ) 313 (2,560 ) Net income (loss) $ 11,479 $ 210 $ (1,112 ) $ 10,577 Nine months ended September 30, 2018 Net interest income (expense) $ 92,387 $ — $ (1,853 ) $ 90,534 Provision for loan losses (5,050 ) — — (5,050 ) Noninterest income 19,754 8,127 (450 ) 27,431 Noninterest expense (62,710 ) (7,647 ) (2,716 ) (73,073 ) Income (loss) before income taxes 44,381 480 (5,019 ) 39,842 Income tax (expense) benefit (8,933 ) (127 ) 1,253 (7,807 ) Net income (loss) $ 35,448 $ 353 $ (3,766 ) $ 32,035 (1) Reflects activity from the acquisition of HNP Capital since June 1, 2018 (the date of acquisition). (14.) Banking Non-Banking (2) Holding Company and Other Consolidated Totals Three months ended September 30, 2017 Net interest income (expense) $ 29,056 $ — $ (618 ) $ 28,438 Provision for loan losses (2,802 ) — — (2,802 ) Noninterest income 6,410 2,315 (151 ) 8,574 Noninterest expense (19,939 ) (1,947 ) (581 ) (22,467 ) Income (loss) before income taxes 12,725 368 (1,350 ) 11,743 Income tax (expense) benefit (3,923 ) (144 ) 603 (3,464 ) Net income (loss) $ 8,802 $ 224 $ (747 ) $ 8,279 Nine months ended September 30, 2017 Net interest income (expense) $ 84,708 $ — $ (1,853 ) $ 82,855 Provision for loan losses (9,415 ) — — (9,415 ) Noninterest income 18,203 6,760 780 25,743 Noninterest expense (58,263 ) (7,209 ) (1,878 ) (67,350 ) Income (loss) before income taxes 35,233 (449 ) (2,951 ) 31,833 Income tax (expense) benefit (10,544 ) (440 ) 1,619 (9,365 ) Net income (loss) $ 24,689 $ (889 ) $ (1,332 ) $ 22,468 (2) Reflects activity from the acquisition of the assets of Robshaw & Julian since August 31, 2017 (the date of acquisition). |
Basis of Presentation And Sum_4
Basis of Presentation And Summary Of Significant Accounting Policies (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2018USD ($)State | |
Accounting Policies [Abstract] | |
Number of states in which services are provided | State | 45 |
Reclassification from AOCI to retained earnings | $ | $ 2.8 |
Basis of Presentation And Sum_5
Basis of Presentation And Summary Of Significant Accounting Policies (Summary Of Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Supplemental information: | ||
Cash paid for interest | $ 19,803 | $ 10,189 |
Cash paid for income taxes | 3,790 | 8,677 |
Noncash investing and financing activities: | ||
Real estate and other assets acquired in settlement of loans | 596 | 379 |
Accrued and declared unpaid dividends | 4,187 | 3,637 |
Increase in net unsettled security purchases | 75 | |
Assets acquired and liabilities assumed in business combinations: | ||
Fair value of assets acquired | 2,561 | 812 |
Fair value of liabilities assumed | $ 128 | $ 44 |
Business Combinations (Narrativ
Business Combinations (Narrative) (Details) - USD ($) $ in Thousands | Jun. 01, 2018 | Aug. 31, 2017 | Jun. 30, 2018 |
HNP Capital [Member] | |||
Business Acquisition [Line Items] | |||
Assets under management | $ 344,000 | ||
Consideration for acquisition in cash | $ 5,100 | ||
Goodwill | 2,600 | ||
Identified intangible assets | $ 2,500 | ||
Robshaw & Julian [Member] | |||
Business Acquisition [Line Items] | |||
Assets under management | $ 175,000 | ||
Goodwill | 1,000 | ||
Identified intangible assets | 810 | ||
Courier Capital [Member] | |||
Business Acquisition [Line Items] | |||
Assets under management | $ 1,600,000 |
Earnings Per Common Share ("E_3
Earnings Per Common Share ("EPS") (Reconciliation Of Earnings And Shares Used In Calculating Basic And Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Earnings Per Share [Abstract] | ||||
Net income available to common shareholders | $ 10,212 | $ 7,913 | $ 30,939 | $ 21,371 |
Total shares issued | 16,056 | 15,448 | 16,056 | 15,002 |
Unvested restricted stock awards | (4) | (44) | (9) | (48) |
Treasury shares | (131) | (136) | (141) | (148) |
Total basic weighted average common shares outstanding | 15,921 | 15,268 | 15,906 | 14,806 |
Exercise of stock options | 7 | 3 | 11 | |
Vesting of restricted stock awards | 43 | 27 | 42 | 30 |
Total diluted weighted average common shares outstanding | 15,964 | 15,302 | 15,951 | 14,847 |
Basic earnings per common share | $ 0.64 | $ 0.52 | $ 1.95 | $ 1.44 |
Diluted earnings per common share | $ 0.64 | $ 0.52 | $ 1.94 | $ 1.44 |
Earnings Per Common Share ("E_4
Earnings Per Common Share ("EPS") (Shares Excluded from Computation of Diluted EPS) (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive shares excluded from computation of diluted EPS | 7 | 6 | 2 |
Restricted Stock Awards [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive shares excluded from computation of diluted EPS | 7 | 6 | 2 |
Investment Securities (Amortize
Investment Securities (Amortized Cost And Fair Value Of Investment Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Investment [Line Items] | ||
Securities available for sale, Amortized Cost | $ 476,118 | $ 528,458 |
Securities available for sale, Unrealized Gains | 920 | 1,681 |
Securities available for sale, Unrealized Losses | 18,728 | 5,166 |
Securities available for sale | 458,310 | 524,973 |
Securities held to maturity, Amortized Cost | 459,623 | 516,466 |
Securities held to maturity, Unrealized Gains | 519 | 2,341 |
Securities held to maturity, Unrealized Losses | 12,424 | 5,824 |
Securities held to maturity, fair value | 447,718 | 512,983 |
U.S. Government Agencies And Government Sponsored Enterprises [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Amortized Cost | 157,786 | 163,025 |
Securities available for sale, Unrealized Gains | 122 | |
Securities available for sale, Unrealized Losses | 5,977 | 1,258 |
Securities available for sale | 151,809 | 161,889 |
State And Political Subdivisions [Member] | ||
Investment [Line Items] | ||
Securities held to maturity, Amortized Cost | 241,637 | 283,557 |
Securities held to maturity, Unrealized Gains | 519 | 2,317 |
Securities held to maturity, Unrealized Losses | 2,192 | 662 |
Securities held to maturity, fair value | 239,964 | 285,212 |
Collateralized Mortgage Obligations [Member] | Federal National Mortgage Association [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Amortized Cost | 139 | 217 |
Securities available for sale, Unrealized Gains | 1 | |
Securities available for sale, Unrealized Losses | 1 | |
Securities available for sale | 139 | 217 |
Securities held to maturity, Amortized Cost | 65,130 | 76,432 |
Securities held to maturity, Unrealized Losses | 3,270 | 1,958 |
Securities held to maturity, fair value | 61,860 | 74,474 |
Collateralized Mortgage Obligations [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Amortized Cost | 39 | 45 |
Securities available for sale | 39 | 45 |
Securities held to maturity, Amortized Cost | 81,676 | 93,810 |
Securities held to maturity, Unrealized Gains | 3 | |
Securities held to maturity, Unrealized Losses | 4,103 | 2,165 |
Securities held to maturity, fair value | 77,573 | 91,648 |
Collateralized Mortgage Obligations [Member] | Government National Mortgage Association [Member] | ||
Investment [Line Items] | ||
Securities held to maturity, Amortized Cost | 18,824 | 22,881 |
Securities held to maturity, Unrealized Gains | 5 | |
Securities held to maturity, Unrealized Losses | 867 | 502 |
Securities held to maturity, fair value | 17,957 | 22,384 |
Collateralized Mortgage Obligations [Member] | Privately Issued [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Unrealized Gains | 850 | 976 |
Securities available for sale | 850 | 976 |
Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Amortized Cost | 318,332 | 365,433 |
Securities available for sale, Unrealized Gains | 920 | 1,559 |
Securities available for sale, Unrealized Losses | 12,751 | 3,908 |
Securities available for sale | 306,501 | 363,084 |
Securities held to maturity, Amortized Cost | 217,986 | 232,909 |
Securities held to maturity, Unrealized Gains | 24 | |
Securities held to maturity, Unrealized Losses | 10,232 | 5,162 |
Securities held to maturity, fair value | 207,754 | 227,771 |
Mortgage-Backed Securities [Member] | Federal National Mortgage Association [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Amortized Cost | 275,416 | 311,830 |
Securities available for sale, Unrealized Gains | 39 | 313 |
Securities available for sale, Unrealized Losses | 10,778 | 3,220 |
Securities available for sale | 264,677 | 308,923 |
Securities held to maturity, Amortized Cost | 12,032 | 9,732 |
Securities held to maturity, Unrealized Gains | 16 | |
Securities held to maturity, Unrealized Losses | 467 | 88 |
Securities held to maturity, fair value | 11,565 | 9,660 |
Mortgage-Backed Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Amortized Cost | 37,088 | 41,290 |
Securities available for sale, Unrealized Gains | 10 | 76 |
Securities available for sale, Unrealized Losses | 1,847 | 675 |
Securities available for sale | 35,251 | 40,691 |
Securities held to maturity, Amortized Cost | 4,616 | 3,213 |
Securities held to maturity, Unrealized Losses | 272 | 119 |
Securities held to maturity, fair value | 4,344 | 3,094 |
Mortgage-Backed Securities [Member] | Government National Mortgage Association [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Amortized Cost | 5,650 | 12,051 |
Securities available for sale, Unrealized Gains | 21 | 193 |
Securities available for sale, Unrealized Losses | 126 | 12 |
Securities available for sale | 5,545 | 12,232 |
Securities held to maturity, Amortized Cost | 35,708 | 26,841 |
Securities held to maturity, Unrealized Losses | 1,253 | 330 |
Securities held to maturity, fair value | $ 34,455 | $ 26,511 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) | 9 Months Ended | ||
Sep. 30, 2018USD ($)Security | Sep. 30, 2017USD ($) | Dec. 31, 2017USD ($)Security | |
Investments [Abstract] | |||
Securities pledged as collateral | $ 788,900,000 | $ 838,400,000 | |
Number of security positions, unrealized loss position | Security | 750 | 411 | |
Number of security positions, unrealized loss position for more than 12 months | Security | 308 | 172 | |
Securities, 12 months or longer, Fair Value | $ 503,753,000 | $ 274,763,000 | |
Securities, 12 months or longer, Unrealized Losses | $ 25,091,000 | $ 7,033,000 | |
Number of security positions, unrealized loss position for less than 12 months | Security | 442 | 239 | |
Securities, less than 12 months, Fair Value | $ 291,779,000 | $ 433,097,000 | |
Securities, less than 12 months, Unrealized Losses | 6,061,000 | $ 3,957,000 | |
Impairment recorded | $ 0 | $ 0 |
Investment Securities (Sales An
Investment Securities (Sales And Calls Of Securities Available For Sale) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Investments [Abstract] | ||||
Proceeds from sales | $ 21,470 | $ 24,117 | $ 27,238 | $ 49,424 |
Gross realized gains | 64 | 190 | 73 | 606 |
Gross realized losses | $ 159 | $ 6 | $ 161 | $ 6 |
Investment Securities (Schedule
Investment Securities (Scheduled Maturities Of Securities Available For Sale And Securities Held To Maturity) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Investments [Abstract] | ||
Debt securities available for sale, Due in one year or less, Amortized Cost | $ 35,676 | |
Debt securities available for sale, Due from one to five years, Amortized Cost | 139,223 | |
Debt securities available for sale, Due after five years through ten years, Amortized Cost | 214,640 | |
Debt securities available for sale, Due after ten years, Amortized Cost | 86,579 | |
Debt securities available for sale, Amortized Cost | 476,118 | |
Debt securities available for sale, Due in one year or less, Fair Value | 35,471 | |
Debt securities available for sale, Due from one to five years, Fair Value | 135,043 | |
Debt securities available for sale, Due after five years through ten years, Fair Value | 204,681 | |
Debt securities available for sale, Due after ten years, Fair Value | 83,115 | |
Debt securities available for sale, Fair Value | 458,310 | |
Debt securities held to maturity, Due in one year or less, Amortized Cost | 49,829 | |
Debt securities held to maturity, Due from one to five years, Amortized Cost | 150,749 | |
Debt securities held to maturity, Due after five years through ten years, Amortized Cost | 83,277 | |
Debt securities held to maturity, Due after ten years, Amortized Cost | 175,768 | |
Securities held to maturity, Amortized Cost | 459,623 | $ 516,466 |
Debt securities held to maturity, Due in one year or less, Fair Value | 49,878 | |
Debt securities held to maturity, Due from one to five years, Fair Value | 150,479 | |
Debt securities held to maturity, Due after five years through ten years, Fair Value | 79,898 | |
Debt securities held to maturity, Due after ten years, Fair Value | 167,463 | |
Securities held to maturity, Fair Value | $ 447,718 | $ 512,983 |
Investment Securities (Investme
Investment Securities (Investments Gross Unrealized Losses And Fair Value) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Investment [Line Items] | ||
Securities available for sale, Less than 12 months, Fair Value | $ 149,462 | $ 319,678 |
Securities available for sale, Less than 12 months, Unrealized Losses | 4,202 | 2,618 |
Securities available for sale, 12 months or longer, Fair Value | 304,380 | 115,552 |
Securities available for sale, 12 months or longer, Unrealized Losses | 14,526 | 2,548 |
Securities available for sale, Fair Value, Total | 453,842 | 435,230 |
Securities available for sale, Unrealized Losses, Total | 18,728 | 5,166 |
Securities held to maturity, Less than 12 months, Fair Value | 142,317 | 113,419 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 1,859 | 1,339 |
Securities held to maturity, 12 months or longer, Fair Value | 199,373 | 159,211 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 10,565 | 4,485 |
Securities held to maturity, Fair Value, Total | 341,690 | 272,630 |
Securities held to maturity, Unrealized Losses, Total | 12,424 | 5,824 |
Total Securities, Less than 12 months, Fair Value | 291,779 | 433,097 |
Total Securities, Less than 12 months, Unrealized Losses | 6,061 | 3,957 |
Total Securities, 12 months or longer, Fair Value | 503,753 | 274,763 |
Total Securities, 12 months or longer, Unrealized Losses | 25,091 | 7,033 |
Total Securities, Fair Value | 795,532 | 707,860 |
Total Securities, Unrealized Losses | 31,152 | 10,990 |
U.S. Government Agencies And Government Sponsored Enterprises [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Less than 12 months, Fair Value | 88,647 | 95,046 |
Securities available for sale, Less than 12 months, Unrealized Losses | 2,621 | 571 |
Securities available for sale, 12 months or longer, Fair Value | 63,162 | 31,561 |
Securities available for sale, 12 months or longer, Unrealized Losses | 3,356 | 687 |
Securities available for sale, Fair Value, Total | 151,809 | 126,607 |
Securities available for sale, Unrealized Losses, Total | 5,977 | 1,258 |
State And Political Subdivisions [Member] | ||
Investment [Line Items] | ||
Securities held to maturity, Less than 12 months, Fair Value | 105,290 | 36,368 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 858 | 295 |
Securities held to maturity, 12 months or longer, Fair Value | 28,646 | 14,492 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 1,334 | 367 |
Securities held to maturity, Fair Value, Total | 133,936 | 50,860 |
Securities held to maturity, Unrealized Losses, Total | 2,192 | 662 |
Collateralized Mortgage Obligations [Member] | Federal National Mortgage Association [Member] | ||
Investment [Line Items] | ||
Securities available for sale, 12 months or longer, Fair Value | 58 | 119 |
Securities available for sale, 12 months or longer, Unrealized Losses | 1 | |
Securities available for sale, Fair Value, Total | 58 | 119 |
Securities available for sale, Unrealized Losses, Total | 1 | |
Securities held to maturity, Less than 12 months, Fair Value | 1,982 | 16,830 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 41 | 202 |
Securities held to maturity, 12 months or longer, Fair Value | 59,878 | 57,645 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 3,229 | 1,756 |
Securities held to maturity, Fair Value, Total | 61,860 | 74,475 |
Securities held to maturity, Unrealized Losses, Total | 3,270 | 1,958 |
Collateralized Mortgage Obligations [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Investment [Line Items] | ||
Securities available for sale, 12 months or longer, Fair Value | 6 | 8 |
Securities available for sale, Fair Value, Total | 6 | 8 |
Securities held to maturity, Less than 12 months, Fair Value | 9,845 | 23,727 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 390 | 337 |
Securities held to maturity, 12 months or longer, Fair Value | 67,728 | 66,467 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 3,713 | 1,828 |
Securities held to maturity, Fair Value, Total | 77,573 | 90,194 |
Securities held to maturity, Unrealized Losses, Total | 4,103 | 2,165 |
Collateralized Mortgage Obligations [Member] | Government National Mortgage Association [Member] | ||
Investment [Line Items] | ||
Securities held to maturity, Less than 12 months, Fair Value | 1,020 | 15,401 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 15 | 340 |
Securities held to maturity, 12 months or longer, Fair Value | 16,937 | 5,635 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 852 | 162 |
Securities held to maturity, Fair Value, Total | 17,957 | 21,036 |
Securities held to maturity, Unrealized Losses, Total | 867 | 502 |
Mortgage-Backed Securities [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Less than 12 months, Fair Value | 60,815 | 224,632 |
Securities available for sale, Less than 12 months, Unrealized Losses | 1,581 | 2,047 |
Securities available for sale, 12 months or longer, Fair Value | 241,218 | 83,991 |
Securities available for sale, 12 months or longer, Unrealized Losses | 11,170 | 1,861 |
Securities available for sale, Fair Value, Total | 302,033 | 308,623 |
Securities available for sale, Unrealized Losses, Total | 12,751 | 3,908 |
Securities held to maturity, Less than 12 months, Fair Value | 37,027 | 77,051 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 1,001 | 1,044 |
Securities held to maturity, 12 months or longer, Fair Value | 170,727 | 144,719 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 9,231 | 4,118 |
Securities held to maturity, Fair Value, Total | 207,754 | 221,770 |
Securities held to maturity, Unrealized Losses, Total | 10,232 | 5,162 |
Mortgage-Backed Securities [Member] | Federal National Mortgage Association [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Less than 12 months, Fair Value | 54,316 | 201,754 |
Securities available for sale, Less than 12 months, Unrealized Losses | 1,380 | 1,855 |
Securities available for sale, 12 months or longer, Fair Value | 208,371 | 67,383 |
Securities available for sale, 12 months or longer, Unrealized Losses | 9,398 | 1,365 |
Securities available for sale, Fair Value, Total | 262,687 | 269,137 |
Securities available for sale, Unrealized Losses, Total | 10,778 | 3,220 |
Securities held to maturity, Less than 12 months, Fair Value | 5,467 | 3,766 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 151 | 29 |
Securities held to maturity, 12 months or longer, Fair Value | 6,098 | 2,694 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 316 | 59 |
Securities held to maturity, Fair Value, Total | 11,565 | 6,460 |
Securities held to maturity, Unrealized Losses, Total | 467 | 88 |
Mortgage-Backed Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Less than 12 months, Fair Value | 2,374 | 20,446 |
Securities available for sale, Less than 12 months, Unrealized Losses | 80 | 192 |
Securities available for sale, 12 months or longer, Fair Value | 32,041 | 15,601 |
Securities available for sale, 12 months or longer, Unrealized Losses | 1,767 | 483 |
Securities available for sale, Fair Value, Total | 34,415 | 36,047 |
Securities available for sale, Unrealized Losses, Total | 1,847 | 675 |
Securities held to maturity, Less than 12 months, Fair Value | 1,455 | |
Securities held to maturity, Less than 12 months, Unrealized Losses | 30 | |
Securities held to maturity, 12 months or longer, Fair Value | 2,889 | 3,094 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 242 | 119 |
Securities held to maturity, Fair Value, Total | 4,344 | 3,094 |
Securities held to maturity, Unrealized Losses, Total | 272 | 119 |
Mortgage-Backed Securities [Member] | Government National Mortgage Association [Member] | ||
Investment [Line Items] | ||
Securities available for sale, Less than 12 months, Fair Value | 4,125 | 2,432 |
Securities available for sale, Less than 12 months, Unrealized Losses | 121 | |
Securities available for sale, 12 months or longer, Fair Value | 742 | 880 |
Securities available for sale, 12 months or longer, Unrealized Losses | 5 | 12 |
Securities available for sale, Fair Value, Total | 4,867 | 3,312 |
Securities available for sale, Unrealized Losses, Total | 126 | 12 |
Securities held to maturity, Less than 12 months, Fair Value | 17,258 | 17,327 |
Securities held to maturity, Less than 12 months, Unrealized Losses | 374 | 136 |
Securities held to maturity, 12 months or longer, Fair Value | 17,197 | 9,184 |
Securities held to maturity, 12 months or longer, Unrealized Losses | 879 | 194 |
Securities held to maturity, Fair Value, Total | 34,455 | 26,511 |
Securities held to maturity, Unrealized Losses, Total | $ 1,253 | $ 330 |
Loans (Loan Portfolio) (Details
Loans (Loan Portfolio) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal Amount Outstanding | $ 2,946,668 | $ 2,694,922 |
Net Deferred Loan (Fees) Costs | 41,663 | 40,095 |
Loans, Net | 2,988,331 | 2,735,017 |
Allowance for loan losses | (33,955) | (34,672) |
Total loans, net | 2,954,376 | 2,700,345 |
Commercial Business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal Amount Outstanding | 537,160 | 449,763 |
Net Deferred Loan (Fees) Costs | 782 | 563 |
Loans, Net | 537,942 | 450,326 |
Commercial Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal Amount Outstanding | 907,107 | 810,851 |
Net Deferred Loan (Fees) Costs | (2,096) | (1,943) |
Loans, Net | 905,011 | 808,908 |
Residential Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal Amount Outstanding | 498,883 | 457,761 |
Net Deferred Loan (Fees) Costs | 8,715 | 7,522 |
Loans, Net | 507,598 | 465,283 |
Residential Real Estate Lines [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal Amount Outstanding | 108,227 | 113,422 |
Net Deferred Loan (Fees) Costs | 2,977 | 2,887 |
Loans, Net | 111,204 | 116,309 |
Consumer Indirect [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal Amount Outstanding | 878,316 | 845,682 |
Net Deferred Loan (Fees) Costs | 31,118 | 30,888 |
Loans, Net | 909,434 | 876,570 |
Other Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal Amount Outstanding | 16,975 | 17,443 |
Net Deferred Loan (Fees) Costs | 167 | 178 |
Loans, Net | $ 17,142 | $ 17,621 |
Loans (Narrative) (Details)
Loans (Narrative) (Details) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2018USD ($)contract | Sep. 30, 2017contract | Dec. 31, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due greater than 90 days and still accruing interest | $ 0 | $ 0 | |
Loans held for sale | 3,166 | 2,718 | |
Past Due Loans | $ 5,394 | 6,522 | |
Number of loans modified as TDR | contract | 0 | 0 | |
Number of loans modified as TDR that defaulted within the previous 12 months | contract | 0 | 0 | |
Greater than 90 Days [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due Loans | $ 8 | 11 | |
Consumer Overdrafts [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past due greater than 90 days and still accruing interest | 8 | 11 | |
Residential Real Estate Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Loans held for sale | 3,200 | 2,700 | |
Past Due Loans | 926 | 1,964 | |
Commercial Business [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Past Due Loans | $ 364 | $ 100 |
Loans (Recorded Investment By L
Loans (Recorded Investment By Loan Class In Current And Nonaccrual Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | $ 5,394 | $ 6,522 | |
Nonaccrual | 7,842 | 12,520 | |
Current | 2,933,432 | 2,675,880 | |
Total loans | 2,946,668 | 2,694,922 | $ 2,577,068 |
30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 4,781 | 5,357 | |
60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 605 | 1,154 | |
Greater than 90 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 8 | 11 | |
Commercial Business [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 364 | 100 | |
Nonaccrual | 2,203 | 5,344 | |
Current | 534,593 | 444,319 | |
Total loans | 537,160 | 449,763 | 418,873 |
Commercial Business [Member] | 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 364 | 64 | |
Commercial Business [Member] | 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 36 | ||
Commercial Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 916 | 431 | |
Nonaccrual | 1,900 | 2,623 | |
Current | 904,291 | 807,797 | |
Total loans | 907,107 | 810,851 | 759,898 |
Commercial Mortgage [Member] | 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 916 | 56 | |
Commercial Mortgage [Member] | 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 375 | ||
Residential Real Estate Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 926 | 1,964 | |
Nonaccrual | 2,057 | 2,252 | |
Current | 495,900 | 453,545 | |
Total loans | 498,883 | 457,761 | 438,936 |
Residential Real Estate Loans [Member] | 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 871 | 1,908 | |
Residential Real Estate Loans [Member] | 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 55 | 56 | |
Residential Real Estate Lines [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 185 | 349 | |
Nonaccrual | 297 | 404 | |
Current | 107,745 | 112,669 | |
Total loans | 108,227 | 113,422 | 114,747 |
Residential Real Estate Lines [Member] | 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 185 | 349 | |
Consumer Indirect [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 2,871 | 3,478 | |
Nonaccrual | 1,385 | 1,895 | |
Current | 874,060 | 840,309 | |
Total loans | 878,316 | 845,682 | 827,154 |
Consumer Indirect [Member] | 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 2,327 | 2,806 | |
Consumer Indirect [Member] | 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 544 | 672 | |
Other Consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 132 | 200 | |
Nonaccrual | 2 | ||
Current | 16,843 | 17,241 | |
Total loans | 16,975 | 17,443 | $ 17,460 |
Other Consumer [Member] | 30 to 59 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 118 | 174 | |
Other Consumer [Member] | 60 to 89 Days Past Due [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | 6 | 15 | |
Other Consumer [Member] | Greater than 90 Days [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Past Due Loans | $ 8 | $ 11 |
Loans (Summary Of Impaired Loan
Loans (Summary Of Impaired Loans) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | ||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | [1] | $ 1,680 | $ 2,219 |
Recorded Investment, With an allowance recorded | [1] | 3,021 | 6,381 |
Recorded Investment | [1] | 4,701 | 8,600 |
Unpaid Principal Balance, With no related allowance recorded | [1] | 2,615 | 2,954 |
Unpaid Principal Balance, With an allowance recorded | [1] | 3,021 | 6,381 |
Unpaid Principal Balance | [1] | 5,636 | 9,335 |
Related Allowance | 891 | 2,171 | |
Average Recorded Investment, With no related allowance recorded | 1,875 | 1,474 | |
Average Recorded Investment, With an allowance recorded | 5,063 | 5,984 | |
Average Recorded Investment | 6,938 | 7,458 | |
Interest Income Recognized, With no related allowance recorded | |||
Interest Income Recognized, With an allowance recorded | |||
Interest Income Recognized | |||
Commercial Business [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | [1] | 1,155 | 1,635 |
Recorded Investment, With an allowance recorded | [1] | 1,183 | 3,853 |
Unpaid Principal Balance, With no related allowance recorded | [1] | 2,090 | 2,370 |
Unpaid Principal Balance, With an allowance recorded | [1] | 1,183 | 3,853 |
Related Allowance | 431 | 2,056 | |
Average Recorded Investment, With no related allowance recorded | 1,307 | 853 | |
Average Recorded Investment, With an allowance recorded | 2,931 | 4,468 | |
Interest Income Recognized, With no related allowance recorded | |||
Interest Income Recognized, With an allowance recorded | |||
Commercial Mortgage [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment, With no related allowance recorded | [1] | 525 | 584 |
Recorded Investment, With an allowance recorded | [1] | 1,838 | 2,528 |
Unpaid Principal Balance, With no related allowance recorded | [1] | 525 | 584 |
Unpaid Principal Balance, With an allowance recorded | [1] | 1,838 | 2,528 |
Related Allowance | 460 | 115 | |
Average Recorded Investment, With no related allowance recorded | 568 | 621 | |
Average Recorded Investment, With an allowance recorded | 2,132 | 1,516 | |
Interest Income Recognized, With no related allowance recorded | |||
Interest Income Recognized, With an allowance recorded | |||
[1] | Difference between recorded investment and unpaid principal balance represents partial charge-offs. |
Loans (Commercial Loan Portfoli
Loans (Commercial Loan Portfolio Categorized By Internally Assigned Asset Classification) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 2,946,668 | $ 2,694,922 |
Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 537,160 | 449,763 |
Commercial Business [Member] | Uncriticized [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 505,865 | 429,692 |
Commercial Business [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 21,141 | 7,120 |
Commercial Business [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,154 | 12,951 |
Commercial Business [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | ||
Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 907,107 | 810,851 |
Commercial Mortgage [Member] | Uncriticized [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 889,608 | 791,127 |
Commercial Mortgage [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 10,221 | 12,185 |
Commercial Mortgage [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 7,278 | 7,539 |
Commercial Mortgage [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans |
Loans (Retail Loan Portfolio Ca
Loans (Retail Loan Portfolio Categorized By Payment Status) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 2,946,668 | $ 2,694,922 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 498,883 | 457,761 |
Residential Real Estate Loans [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 496,826 | 455,509 |
Residential Real Estate Loans [Member] | Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,057 | 2,252 |
Residential Real Estate Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 108,227 | 113,422 |
Residential Real Estate Lines [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 107,930 | 113,018 |
Residential Real Estate Lines [Member] | Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 297 | 404 |
Consumer Indirect [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 878,316 | 845,682 |
Consumer Indirect [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 876,931 | 843,787 |
Consumer Indirect [Member] | Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,385 | 1,895 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,975 | 17,443 |
Other Consumer [Member] | Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,967 | 17,430 |
Other Consumer [Member] | Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 8 | $ 13 |
Loans (Changes In The Allowance
Loans (Changes In The Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | $ 2,946,668 | $ 2,577,068 | $ 2,946,668 | $ 2,577,068 | $ 2,694,922 |
Loans, Individually Evaluated for impairment | 4,701 | 9,585 | 4,701 | 9,585 | |
Loans, Collectively Evaluated for impairment | 2,941,967 | 2,567,483 | 2,941,967 | 2,567,483 | |
Ending balance | 33,955 | 34,347 | 33,955 | 34,347 | |
Allowance for loan losses, Individually Evaluated for impairment | 891 | 2,829 | 891 | 2,829 | |
Allowance for loan losses, Collectively Evaluated for impairment | 33,064 | 31,518 | 33,064 | 31,518 | |
Beginning balance | 33,955 | 33,159 | 34,672 | 30,934 | |
Charge-offs | (3,607) | (2,909) | (10,465) | (10,243) | |
Recoveries | 1,546 | 1,295 | 4,698 | 4,241 | |
Provision (credit) | 2,061 | 2,802 | 5,050 | 9,415 | |
Commercial Business [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 537,160 | 418,873 | 537,160 | 418,873 | 449,763 |
Loans, Individually Evaluated for impairment | 2,338 | 7,126 | 2,338 | 7,126 | |
Loans, Collectively Evaluated for impairment | 534,822 | 411,747 | 534,822 | 411,747 | |
Ending balance | 14,231 | 15,749 | 14,231 | 15,749 | |
Allowance for loan losses, Individually Evaluated for impairment | 431 | 2,658 | 431 | 2,658 | |
Allowance for loan losses, Collectively Evaluated for impairment | 13,800 | 13,091 | 13,800 | 13,091 | |
Beginning balance | 14,242 | 14,622 | 15,668 | 7,225 | |
Charge-offs | (672) | (130) | (1,113) | (1,908) | |
Recoveries | 241 | 86 | 438 | 332 | |
Provision (credit) | 420 | 1,171 | (762) | 10,100 | |
Commercial Mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 907,107 | 759,898 | 907,107 | 759,898 | 810,851 |
Loans, Individually Evaluated for impairment | 2,363 | 2,459 | 2,363 | 2,459 | |
Loans, Collectively Evaluated for impairment | 904,744 | 757,439 | 904,744 | 757,439 | |
Ending balance | 5,422 | 3,727 | 5,422 | 3,727 | |
Allowance for loan losses, Individually Evaluated for impairment | 460 | 171 | 460 | 171 | |
Allowance for loan losses, Collectively Evaluated for impairment | 4,962 | 3,556 | 4,962 | 3,556 | |
Beginning balance | 5,371 | 3,906 | 3,696 | 10,315 | |
Charge-offs | (113) | (117) | (10) | ||
Recoveries | 3 | 5 | 11 | 257 | |
Provision (credit) | 161 | (184) | 1,832 | (6,835) | |
Residential Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 498,883 | 438,936 | 498,883 | 438,936 | 457,761 |
Loans, Collectively Evaluated for impairment | 498,883 | 438,936 | 498,883 | 438,936 | |
Ending balance | 1,305 | 1,161 | 1,305 | 1,161 | |
Allowance for loan losses, Collectively Evaluated for impairment | 1,305 | 1,161 | 1,305 | 1,161 | |
Beginning balance | 1,255 | 1,247 | 1,322 | 1,478 | |
Charge-offs | (24) | (198) | (53) | (298) | |
Recoveries | 8 | 37 | 140 | 85 | |
Provision (credit) | 66 | 75 | (104) | (104) | |
Residential Real Estate Lines [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 108,227 | 114,747 | 108,227 | 114,747 | 113,422 |
Loans, Collectively Evaluated for impairment | 108,227 | 114,747 | 108,227 | 114,747 | |
Ending balance | 212 | 157 | 212 | 157 | |
Allowance for loan losses, Collectively Evaluated for impairment | 212 | 157 | 212 | 157 | |
Beginning balance | 248 | 232 | 180 | 303 | |
Charge-offs | (23) | (21) | (124) | (64) | |
Recoveries | 2 | 2 | 17 | 58 | |
Provision (credit) | (15) | (56) | 139 | (140) | |
Consumer Indirect [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 878,316 | 827,154 | 878,316 | 827,154 | 845,682 |
Loans, Collectively Evaluated for impairment | 878,316 | 827,154 | 878,316 | 827,154 | |
Ending balance | 12,355 | 13,217 | 12,355 | 13,217 | |
Allowance for loan losses, Collectively Evaluated for impairment | 12,355 | 13,217 | 12,355 | 13,217 | |
Beginning balance | 12,520 | 12,833 | 13,415 | 11,311 | |
Charge-offs | (2,474) | (2,330) | (8,089) | (7,343) | |
Recoveries | 1,228 | 1,086 | 3,862 | 3,259 | |
Provision (credit) | 1,081 | 1,628 | 3,167 | 5,990 | |
Other Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans, Ending balance | 16,975 | 17,460 | 16,975 | 17,460 | $ 17,443 |
Loans, Collectively Evaluated for impairment | 16,975 | 17,460 | 16,975 | 17,460 | |
Ending balance | 430 | 336 | 430 | 336 | |
Allowance for loan losses, Collectively Evaluated for impairment | 430 | 336 | 430 | 336 | |
Beginning balance | 319 | 319 | 391 | 302 | |
Charge-offs | (301) | (230) | (969) | (620) | |
Recoveries | 64 | 79 | 230 | 250 | |
Provision (credit) | $ 348 | $ 168 | $ 778 | $ 404 |
Goodwill And Other Intangible_3
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |||||
Carrying amount of goodwill | $ 68,412 | $ 68,412 | $ 65,840 | ||
Amortization during the year | $ 334 | $ 288 | $ 927 | $ 876 |
Goodwill And Other Intangible_4
Goodwill And Other Intangible Assets (Changes In Carrying Amount Of Goodwill) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Goodwill [Line Items] | |
Goodwill, beginning balance | $ 65,840 |
Acquisition | 2,572 |
Goodwill, ending balance | 68,412 |
Banking [Member] | |
Goodwill [Line Items] | |
Goodwill, beginning balance | 48,536 |
Goodwill, ending balance | 48,536 |
Non-Banking [Member] | |
Goodwill [Line Items] | |
Goodwill, beginning balance | 17,304 |
Acquisition | 2,572 |
Goodwill, ending balance | $ 19,876 |
Goodwill And Other Intangible_5
Goodwill And Other Intangible Assets (Gross Carrying Amount Accumulated Amortization and Net Book Value) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Gross carrying amount | $ 15,925 | $ 13,420 |
Accumulated amortization | (5,484) | (4,557) |
Net book value | $ 10,441 | $ 8,863 |
Goodwill And Other Intangible_6
Goodwill And Other Intangible Assets (Estimated Core Deposit Intangible Amortization Expense) (Details) $ in Thousands | Sep. 30, 2018USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
2018 (remainder of year) | $ 330 |
2,019 | 1,250 |
2,020 | 1,134 |
2,021 | 1,014 |
2,022 | 923 |
2,023 | $ 852 |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (Narrative) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Estimated to be reclassified as a decrease to interest expense | $ 29 |
Derivative Instruments and He_4
Derivative Instruments and Hedging Activities (Fair Values of Derivative Instruments on the Balance Sheet) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross notional amount | $ 100,000 | |
Asset derivatives | 1,305 | |
Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross notional amount | 70,656 | $ 12,282 |
Asset derivatives | 298 | |
Liability derivatives | 356 | 4 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross notional amount | 100,000 | |
Asset derivatives | 1,305 | |
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross notional amount | 35,915 | |
Asset derivatives | 298 | |
Liability derivatives | 348 | |
Credit Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Gross notional amount | 34,741 | 12,282 |
Liability derivatives | $ 8 | $ 4 |
Derivative Instruments and He_5
Derivative Instruments and Hedging Activities (Effect of Derivative Instruments on the Income Statement) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in income | $ 354 | $ 127 | $ 606 | $ 127 |
Interest Rate Swap [Member] | Net Gain on Derivative Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in income | 349 | 419 | ||
Credit Contract [Member] | Net Gain on Derivative Instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (loss) recognized in income | $ 5 | $ 127 | $ 187 | $ 127 |
Shareholders' Equity (Changes I
Shareholders' Equity (Changes In Shares Of Common Stock) (Details) - shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Shareholders Equity [Line Items] | ||
Treasury stock, beginning balance | 131,240 | |
Shares issued, beginning balance | 16,056,178 | 14,692,214 |
Common stock issued for "at-the-market" equity offering | 1,069,635 | |
Restricted stock awards issued | ||
Restricted stock awards forfeited | ||
Stock options exercised | ||
Stock awards | ||
Treasury stock purchases | ||
Treasury stock, ending balance | 131,219 | |
Shares issued, ending balance | 16,056,178 | 15,761,849 |
Common Stock [Member] | ||
Shareholders Equity [Line Items] | ||
Shares, beginning balance | 15,924,938 | 14,537,597 |
Common stock issued for "at-the-market" equity offering | 1,069,635 | |
Restricted stock awards issued | 7,370 | 8,510 |
Restricted stock awards forfeited | (23,901) | (10,359) |
Stock options exercised | 17,450 | 21,320 |
Stock awards | 2,724 | 3,914 |
Treasury stock purchases | (3,622) | (4,323) |
Shares, ending balance | 15,924,959 | 15,626,294 |
Treasury Stock [Member] | ||
Shareholders Equity [Line Items] | ||
Treasury stock, beginning balance | 131,240 | 154,617 |
Common stock issued for "at-the-market" equity offering | ||
Restricted stock awards issued | (7,370) | (8,510) |
Restricted stock awards forfeited | 23,901 | 10,359 |
Stock options exercised | (17,450) | (21,320) |
Stock awards | (2,724) | (3,914) |
Treasury stock purchases | 3,622 | 4,323 |
Treasury stock, ending balance | 131,219 | 135,555 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Other comprehensive income (loss), Pre-tax Amount | $ (2,039) | $ 741 | $ (13,243) | $ 5,069 | |
Other comprehensive income (loss), Tax Effect | (515) | 286 | (3,339) | 1,956 | |
Other comprehensive income (loss), before Reclassifications, Net-of-tax Amount | (1,808) | 363 | (10,570) | 2,916 | |
Amounts reclassified from accumulated other comprehensive income (loss) | 284 | 92 | 666 | 197 | |
Total other comprehensive (loss) income, net of tax | (1,524) | 455 | (9,904) | 3,113 | |
Securities Available for Sale and Transferred Securities [Member] | |||||
Other comprehensive income (loss), before Reclassifications, Pre-tax Amount | (2,532) | 589 | (14,411) | 4,747 | |
Reclassification, Pre-tax Amount | [1] | 209 | (127) | 381 | (514) |
Other comprehensive income (loss), Pre-tax Amount | (2,323) | 462 | (14,030) | 4,233 | |
Other comprehensive income (loss), before Reclassifications, Tax Effect | (639) | 226 | (3,633) | 1,831 | |
Reclassification, Tax Effect | [1] | 52 | (48) | 96 | (198) |
Other comprehensive income (loss), Tax Effect | (587) | 178 | (3,537) | 1,633 | |
Other comprehensive income (loss), before Reclassifications, Net-of-tax Amount | (1,893) | 363 | (10,778) | 2,916 | |
Amounts reclassified from accumulated other comprehensive income (loss) | [1] | 157 | (79) | 285 | (316) |
Total other comprehensive (loss) income, net of tax | (1,736) | 284 | (10,493) | 2,600 | |
Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest [Member] | |||||
Other comprehensive income (loss), Pre-tax Amount | 114 | 278 | |||
Other comprehensive income (loss), Tax Effect | 29 | 70 | |||
Total other comprehensive (loss) income, net of tax | 85 | 208 | |||
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Including Portion Attributable to Noncontrolling Interest [Member] | |||||
Other comprehensive income (loss), Pre-tax Amount | (18) | (12) | (54) | (38) | |
Other comprehensive income (loss), Tax Effect | (4) | (4) | (14) | (14) | |
Total other comprehensive (loss) income, net of tax | (14) | (8) | (40) | (24) | |
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] | |||||
Other comprehensive income (loss), Pre-tax Amount | 188 | 291 | 563 | 874 | |
Other comprehensive income (loss), Tax Effect | 47 | 112 | 142 | 337 | |
Total other comprehensive (loss) income, net of tax | 141 | 179 | 421 | 537 | |
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | |||||
Other comprehensive income (loss), Pre-tax Amount | 170 | 279 | 509 | 836 | |
Other comprehensive income (loss), Tax Effect | 43 | 108 | 128 | 323 | |
Total other comprehensive (loss) income, net of tax | $ 127 | $ 171 | $ 381 | $ 513 | |
[1] | Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | $ 381,177 | $ 320,054 | ||
Other comprehensive income (loss) before reclassifications | $ (1,808) | $ 363 | (10,570) | 2,916 |
Amounts reclassified from accumulated other comprehensive income (loss) | 284 | 92 | 666 | 197 |
Total other comprehensive (loss) income, net of tax | (1,524) | 455 | (9,904) | 3,113 |
Balance | 392,154 | 366,002 | 392,154 | 366,002 |
Hedging Derivative Instruments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | 123 | |||
Other comprehensive income (loss) before reclassifications | 85 | 208 | ||
Total other comprehensive (loss) income, net of tax | 85 | 208 | ||
Balance | 208 | 208 | ||
Securities Available-For-Sale and Transferred Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (12,032) | (1,413) | (3,275) | (3,729) |
Other comprehensive income (loss) before reclassifications | (1,893) | 363 | (10,778) | 2,916 |
Amounts reclassified from accumulated other comprehensive income (loss) | 157 | (79) | 285 | (316) |
Total other comprehensive (loss) income, net of tax | (1,736) | 284 | (10,493) | 2,600 |
Balance | (13,768) | (1,129) | (13,768) | (1,129) |
Pension And Post-Retirement Obligations [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (8,387) | (9,880) | (8,641) | (10,222) |
Amounts reclassified from accumulated other comprehensive income (loss) | 127 | 171 | 381 | 513 |
Total other comprehensive (loss) income, net of tax | 127 | 171 | 381 | 513 |
Balance | (8,260) | (9,709) | (8,260) | (9,709) |
Accumulated Other Comprehensive Loss [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (20,296) | (11,293) | (11,916) | (13,951) |
Total other comprehensive (loss) income, net of tax | (1,524) | 455 | (9,904) | 3,113 |
Balance | $ (21,820) | $ (10,838) | $ (21,820) | $ (10,838) |
Accumulated Other Comprehensi_5
Accumulated Other Comprehensive Income (Loss) (Amounts Reclassified Out Of Each Component Of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Net (loss) gain on investment securities | $ (95) | $ 184 | $ (88) | $ 600 | |
Interest income | 30,821 | 28,438 | 90,534 | 82,855 | |
Income before income taxes | 13,137 | 11,743 | 39,842 | 31,833 | |
Income tax (expense) benefit | (2,560) | (3,464) | (7,807) | (9,365) | |
Net income | 10,577 | 8,279 | 32,035 | 22,468 | |
Total reclassified for the period | (284) | (92) | (666) | (197) | |
Securities Available for Sale and Transferred Securities [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Reclassification before tax | [1] | (209) | 127 | (381) | 514 |
Reclassification tax | [1] | 52 | (48) | 96 | (198) |
Total reclassified for the period | [1] | (157) | 79 | (285) | 316 |
Prior Service Credit [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Reclassification before tax | [2] | 18 | 12 | 54 | 38 |
Net Actuarial Losses [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Reclassification before tax | [2] | (188) | (291) | (563) | (874) |
Pension And Post-Retirement Obligations [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Reclassification before tax | (170) | (279) | (509) | (836) | |
Reclassification tax | 43 | 108 | 128 | 323 | |
Total reclassified for the period | (127) | (171) | (381) | (513) | |
Reclassification out of Accumulated Other Comprehensive Income | Securities Available for Sale and Transferred Securities [Member] | |||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
Net (loss) gain on investment securities | (95) | 184 | (88) | 600 | |
Interest income | (114) | (57) | (293) | (86) | |
Income before income taxes | (209) | 127 | (381) | 514 | |
Income tax (expense) benefit | 52 | (48) | 96 | (198) | |
Net income | $ (157) | $ 79 | $ (285) | $ 316 | |
[1] | Includes amounts related to the amortization/accretion of unrealized net gains and losses related to the Company’s reclassification of available for sale investment securities to the held to maturity category. The unrealized net gains/losses will be amortized/accreted over the remaining life of the investment securities as an adjustment of yield. | ||||
[2] | These items are included in the computation of net periodic pension expense. See Note 11 – Employee Benefit Plans for additional information. |
Share-Based Compensation Plan_2
Share-Based Compensation Plans (Summary Of Restricted Stock Units And Performance Share Units Activity) (Details) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
RSUs [Member] | |
Granted, Number of Shares | shares | 32,655 |
Granted, Weighted Average Market Price at Grant Date | $ / shares | $ 28.50 |
PSUs [Member] | |
Granted, Number of Shares | shares | 14,855 |
Granted, Weighted Average Market Price at Grant Date | $ / shares | $ 27.25 |
Share-Based Compensation Plan_3
Share-Based Compensation Plans (Narrative) (Details) | 9 Months Ended | |
Sep. 30, 2018USD ($)Director$ / sharesshares | Sep. 30, 2017USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized compensation expense | $ | $ 0 | |
Stock options awarded | 0 | 0 |
Aggregate intrinsic value | $ | $ 236,000 | $ 297,000 |
Proceeds from stock options exercised | $ | $ 320,000 | $ 413,000 |
Director [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares issued in lieu of cash | 2,724 | |
Number of non-employee directors | Director | 5 | |
Grant date fair value | $ / shares | $ 33.90 | |
Restricted Stock Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted shares of common stock awarded | 54,880 | |
Grant date fair value | $ / shares | $ 28.89 | |
Unrecognized compensation expense | $ | $ 2,000,000 | |
Expected recognition expense period, weighted average period in years | 1 year 10 months 24 days | |
TSR Performance Requirement [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected term | 2 years 10 months 2 days | |
Risk free interest rate | 2.39% | |
Expected dividend yield | 2.83% | |
Expected stock price volatility | 21.20% | |
Management Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Award vesting period | 3 years | |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted shares of common stock awarded | 7,370 | |
Grant date fair value | $ / shares | $ 33.90 | |
Required service period | 1 year | |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | Vested Immediately [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted shares of common stock awarded | 3,690 | |
Director Stock Incentive Plan [Member] | Restricted Stock Awards [Member] | Vested After Completion of One-Year Service Requirement [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted shares of common stock awarded | 3,680 |
Share-Based Compensation Plan_4
Share-Based Compensation Plans (Summary Of Restricted Stock Awards Activity) (Details) - Restricted Stock Awards [Member] | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding at beginning of year, Number of Shares | shares | 130,586 |
Granted, Number of Shares | shares | 54,880 |
Vested, Number of Shares | shares | (23,836) |
Forfeited, number of shares | shares | (25,251) |
Outstanding at end of period, Number of Shares | shares | 136,379 |
Outstanding at beginning of year, Weighted Average Market Price at Grant Date | $ / shares | $ 24.32 |
Granted, Weighted Average Market Price at Grant Date | $ / shares | 28.89 |
Vested, Weighted Average Market Price at Grant Date | $ / shares | 25.74 |
Forfeited, Weighted Average Market Price at Grant Date | $ / shares | 11.61 |
Outstanding at end of period, Weighted Average Market Price at Grant Date | $ / shares | $ 28.26 |
Share-Based Compensation Plan_5
Share-Based Compensation Plans (Summary Of Stock Option Activity) (Details) - $ / shares shares in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Exercised, Number of Options | ||
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding at beginning of year, Number of Options | 22,199 | |
Exercised, Number of Options | (17,450) | |
Expired, Number of Options | (4,749) | |
Outstanding at beginning of year, Weighted Average Exercise Price | $ 18.40 | |
Exercised, Weighted Average Exercise Price | 18.38 | |
Expired, Weighted Average Exercise Price | $ 18.50 | |
Outstanding and exercisable at end of period, Weighted Average Remaining Contractual Term | 0 months |
Share-Based Compensation Plan_6
Share-Based Compensation Plans (Share-Based Compensation Expense Included In Consolidated Statements Of Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total share-based compensation expense | $ 338 | $ 280 | $ 1,097 | $ 885 |
Salaries and Employee Benefits [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total share-based compensation expense | 306 | 248 | 872 | 676 |
Other Noninterest Expense [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total share-based compensation expense | $ 32 | $ 32 | $ 225 | $ 209 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components Of Net Periodic Benefit Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Defined Benefit Pension Plans And Defined Benefit Postretirement Plans Disclosure [Abstract] | ||||
Service cost | $ 836 | $ 785 | $ 2,509 | $ 2,355 |
Interest cost on projected benefit obligation | 598 | 613 | 1,793 | 1,840 |
Expected return on plan assets | (1,321) | (1,193) | (3,963) | (3,581) |
Amortization of unrecognized prior service credit | (18) | (12) | (54) | (38) |
Amortization of unrecognized net actuarial loss | 188 | 291 | 563 | 874 |
Net periodic benefit expense | $ 283 | $ 484 | $ 848 | $ 1,450 |
Employee Benefit Plans (Narrati
Employee Benefit Plans (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Minimum [Member] | Scenario Forecast [Member] | |
Defined Contribution Plan Disclosure [Line Items] | |
Employer contribution | $ 0 |
Commitments And Contingencies_2
Commitments And Contingencies (Off-Balance Sheet Commitments) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Commitments To Extend Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet commitments | $ 664,138 | $ 661,021 |
Standby Letters Of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Off-balance sheet commitments | $ 12,707 | $ 12,181 |
Commitments And Contingencies_3
Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Commitments And Contingencies Disclosure [Abstract] | ||
Forward sales commitments | $ 6,000 | $ 566 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets Measured At Fair Value On A Recurring And Non-Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | $ 458,310 | $ 524,973 | |
Collateral Dependent Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 3,810 | ||
Loan Servicing Rights [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 999 | ||
Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 290 | ||
Measured On A Recurring Basis [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 459,615 | 524,973 | |
Liabilities at fair value | 58 | 4 | |
Measured On A Recurring Basis [Member] | Derivative Instruments [Member] | Interest Rate Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | 348 | ||
Measured On A Recurring Basis [Member] | Derivative Instruments [Member] | Credit Contract [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | 8 | 4 | |
Measured On A Recurring Basis [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 151,809 | 161,889 | |
Measured On A Recurring Basis [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 306,501 | 363,084 | |
Measured On A Recurring Basis [Member] | Derivative Instruments, Assets [Member] | Cash Flow Hedging [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 1,305 | ||
Measured On A Recurring Basis [Member] | Derivative Instruments, Assets [Member] | Interest Rate Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 298 | ||
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Liabilities at fair value | |||
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Derivative Instruments [Member] | Interest Rate Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | |||
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Derivative Instruments [Member] | Credit Contract [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | |||
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Derivative Instruments, Assets [Member] | Cash Flow Hedging [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Measured On A Recurring Basis [Member] | Level 1 Inputs [Member] | Derivative Instruments, Assets [Member] | Interest Rate Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 459,615 | 524,973 | |
Liabilities at fair value | 58 | 4 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Derivative Instruments [Member] | Interest Rate Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | 348 | ||
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Derivative Instruments [Member] | Credit Contract [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | 8 | 4 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 151,809 | 161,889 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 306,501 | 363,084 | |
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Derivative Instruments, Assets [Member] | Cash Flow Hedging [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 1,305 | ||
Measured On A Recurring Basis [Member] | Level 2 Inputs [Member] | Derivative Instruments, Assets [Member] | Interest Rate Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | 298 | ||
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Liabilities at fair value | |||
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | Derivative Instruments [Member] | Interest Rate Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | |||
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | Derivative Instruments [Member] | Credit Contract [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | |||
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | U.S. Government Agencies And Government Sponsored Enterprises [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | Mortgage-Backed Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | Derivative Instruments, Assets [Member] | Cash Flow Hedging [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Measured On A Recurring Basis [Member] | Level 3 Inputs [Member] | Derivative Instruments, Assets [Member] | Interest Rate Products [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Securities available for sale | |||
Measured On A Nonrecurring Basis [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Liabilities at fair value | 0 | $ 0 | |
Assets at fair value | 8,265 | 7,703 | |
Measured On A Nonrecurring Basis [Member] | Loans Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 3,166 | 2,718 | |
Measured On A Nonrecurring Basis [Member] | Collateral Dependent Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 3,810 | 3,847 | |
Measured On A Nonrecurring Basis [Member] | Loan Servicing Rights [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 999 | 990 | |
Measured On A Nonrecurring Basis [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 290 | 148 | |
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Loans Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Collateral Dependent Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Loan Servicing Rights [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 1 Inputs [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 3,166 | 2,718 | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Loans Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 3,166 | 2,718 | |
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Collateral Dependent Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Loan Servicing Rights [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 2 Inputs [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 5,099 | 4,985 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Loans Held For Sale [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | |||
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Collateral Dependent Impaired Loans [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 3,810 | 3,847 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Loan Servicing Rights [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | 999 | 990 | |
Measured On A Nonrecurring Basis [Member] | Level 3 Inputs [Member] | Other Real Estate Owned [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Assets at fair value | $ 290 | $ 148 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Sep. 30, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Level 1 to Level 2 transfers, assets amount | $ 0 | $ 0 |
Level 2 to Level 1 transfers, assets amount | 0 | 0 |
Level 2 to Level 1 transfers, liabilities amount | 0 | 0 |
Assets measured at fair value on recurring basis using significant unobservable inputs | 0 | |
Nonrecurring Basis [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities measured at fair value on nonrecurring basis | $ 0 | $ 0 |
Fair Value Measurements (Additi
Fair Value Measurements (Additional Quantitative Information About Assets Measured At Fair Value On A Recurring And Non-Recurring Basis) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Collateral Dependent Impaired Loans [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Assets at Fair Value | $ 3,810 |
Collateral Dependent Impaired Loans [Member] | Minimum [Member] | Appraisal Adjustments [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Unobservable Input Value or Range | 10.00% |
Collateral Dependent Impaired Loans [Member] | Maximum [Member] | Appraisal Adjustments [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Unobservable Input Value or Range | 50.00% |
Loan Servicing Rights [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Assets at Fair Value | $ 999 |
Loan Servicing Rights [Member] | Discount Rate [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Unobservable Input Value or Range | 10.30% |
Loan Servicing Rights [Member] | Constant Prepayment Rate [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Unobservable Input Value or Range | 12.80% |
Other Real Estate Owned [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Assets at Fair Value | $ 290 |
Other Real Estate Owned [Member] | Minimum [Member] | Appraisal Adjustments [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Unobservable Input Value or Range | 26.00% |
Other Real Estate Owned [Member] | Maximum [Member] | Appraisal Adjustments [Member] | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
Unobservable Input Value or Range | 44.00% |
Fair Value Measurements (Carryi
Fair Value Measurements (Carrying Amount, Estimated Fair Value, And Placement In Fair Value Hierarchy Of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | $ 458,310 | $ 524,973 |
Securities held to maturity, fair value | 447,718 | 512,983 |
Carrying Amount [Member] | Level 1 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 117,331 | 99,195 |
Accrued interest receivable | 12,559 | 10,776 |
Non-maturity deposits | 2,447,974 | 2,358,018 |
Short-term borrowings | 308,200 | 446,200 |
Accrued interest payable | 9,008 | 8,038 |
Carrying Amount [Member] | Level 2 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | 458,310 | 524,973 |
Securities held to maturity, fair value | 459,623 | 516,466 |
Loans held for sale | 3,166 | 2,718 |
Loans | 2,950,566 | 2,696,498 |
FHLB and FRB stock | 21,997 | 27,730 |
Time deposits | 1,037,755 | 852,156 |
Long-term borrowings | 39,184 | 39,131 |
Carrying Amount [Member] | Level 2 Inputs [Member] | Cash Flow Hedging [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instruments, assets | 1,305 | |
Carrying Amount [Member] | Level 2 Inputs [Member] | Interest Rate Products [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instruments, assets | 298 | |
Derivative instruments, liabilities | 348 | |
Carrying Amount [Member] | Level 2 Inputs [Member] | Credit Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instruments, liabilities | 8 | 4 |
Carrying Amount [Member] | Level 3 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | 3,810 | 3,847 |
Estimated Fair Value [Member] | Level 1 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 117,331 | 99,195 |
Accrued interest receivable | 12,559 | 10,776 |
Non-maturity deposits | 2,447,974 | 2,358,018 |
Short-term borrowings | 308,200 | 446,200 |
Accrued interest payable | 9,008 | 8,038 |
Estimated Fair Value [Member] | Level 2 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available for sale | 458,310 | 524,973 |
Securities held to maturity, fair value | 447,718 | 512,983 |
Loans held for sale | 3,166 | 2,718 |
Loans | 2,904,727 | 2,660,936 |
FHLB and FRB stock | 21,997 | 27,730 |
Time deposits | 1,030,548 | 848,055 |
Long-term borrowings | 39,451 | 41,485 |
Estimated Fair Value [Member] | Level 2 Inputs [Member] | Cash Flow Hedging [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instruments, assets | 1,305 | |
Estimated Fair Value [Member] | Level 2 Inputs [Member] | Interest Rate Products [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instruments, assets | 298 | |
Derivative instruments, liabilities | 348 | |
Estimated Fair Value [Member] | Level 2 Inputs [Member] | Credit Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative instruments, liabilities | 8 | 4 |
Estimated Fair Value [Member] | Level 3 Inputs [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans | $ 3,810 | $ 3,847 |
Segment Reporting (Narrative) (
Segment Reporting (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2018Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 2 |
Segment Reporting (Business Seg
Segment Reporting (Business Segment Assets) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Segment Reporting Information [Line Items] | ||
Goodwill | $ 68,412 | $ 65,840 |
Other intangible assets, net | 10,441 | 8,863 |
Total assets | 4,258,385 | 4,105,210 |
Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Goodwill | 48,536 | 48,536 |
Other intangible assets, net | 249 | 373 |
Total assets | 4,221,168 | 4,069,086 |
Non-Banking [Member] | ||
Segment Reporting Information [Line Items] | ||
Goodwill | 19,876 | 17,304 |
Other intangible assets, net | 10,192 | 8,490 |
Total assets | 37,389 | 31,466 |
Holding Company and Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | $ (172) | $ 4,658 |
Segment Reporting (Business S_2
Segment Reporting (Business Segment Profit (Loss)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Segment Reporting Information [Line Items] | ||||
Net interest income (expense) | $ 30,821 | $ 28,438 | $ 90,534 | $ 82,855 |
Provision for loan losses | (2,061) | (2,802) | (5,050) | (9,415) |
Noninterest income | 9,898 | 8,574 | 27,431 | 25,743 |
Noninterest expense | (25,521) | (22,467) | (73,073) | (67,350) |
Income before income taxes | 13,137 | 11,743 | 39,842 | 31,833 |
Income tax (expense) benefit | (2,560) | (3,464) | (7,807) | (9,365) |
Net income | 10,577 | 8,279 | 32,035 | 22,468 |
Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (expense) | 31,438 | 29,056 | 92,387 | 84,708 |
Provision for loan losses | (2,061) | (2,802) | (5,050) | (9,415) |
Noninterest income | 6,949 | 6,410 | 19,754 | 18,203 |
Noninterest expense | (22,050) | (19,939) | (62,710) | (58,263) |
Income before income taxes | 14,276 | 12,725 | 44,381 | 35,233 |
Income tax (expense) benefit | (2,797) | (3,923) | (8,933) | (10,544) |
Net income | 11,479 | 8,802 | 35,448 | 24,689 |
Non-Banking [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Noninterest income | 3,118 | 2,315 | 8,127 | 6,760 |
Noninterest expense | (2,832) | (1,947) | (7,647) | (7,209) |
Income before income taxes | 286 | 368 | 480 | (449) |
Income tax (expense) benefit | (76) | (144) | (127) | (440) |
Net income | 210 | 224 | 353 | (889) |
Holding Company and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net interest income (expense) | (617) | (618) | (1,853) | (1,853) |
Noninterest income | (169) | (151) | (450) | 780 |
Noninterest expense | (639) | (581) | (2,716) | (1,878) |
Income before income taxes | (1,425) | (1,350) | (5,019) | (2,951) |
Income tax (expense) benefit | 313 | 603 | 1,253 | 1,619 |
Net income | $ (1,112) | $ (747) | $ (3,766) | $ (1,332) |