Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 03, 2016 | Jun. 30, 2015 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | SIMMONS FIRST NATIONAL CORPORATION | ||
Trading Symbol | sfnc | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 30,364,129 | ||
Entity Public Float | $ 1,290,181,611 | ||
Amendment Flag | false | ||
Entity Central Index Key | 90,498 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
ASSETS | |||
Cash and non-interest bearing balances due from banks | $ 97,656 | $ 54,347 | |
Interest bearing balances due from banks | 154,606 | 281,562 | |
Cash and cash equivalents | 252,262 | 335,909 | |
Interest bearing balances due from banks – time | 14,107 | ||
Investment securities: | |||
Held-to-maturity | 705,373 | 777,587 | |
Available-for-sale | 821,407 | 305,283 | |
Total investments | 1,526,780 | 1,082,870 | |
Mortgage loans held for sale | 30,265 | 21,265 | |
Assets held in trading accounts | 4,422 | 6,987 | |
Loans: | |||
Legacy loans | 3,246,454 | 2,053,721 | |
Allowance for loan losses | (31,351) | (29,028) | |
Loans acquired, not covered by FDIC loss share (net of discount and allowance) | [1] | 1,672,901 | 575,980 |
Loans acquired, covered by FDIC loss share (net of discount and allowance) | [1] | 0 | 106,933 |
Net loans | 4,888,004 | 2,707,606 | |
FDIC indemnification asset | 22,663 | ||
Premises and equipment | 193,618 | 122,246 | |
Premises held for sale | 923 | 6,846 | |
Foreclosed assets not covered by FDIC loss share | 44,820 | 44,856 | |
Foreclosed assets covered by FDIC loss share | 11,793 | ||
Interest receivable | 25,793 | 16,774 | |
Bank owned life insurance | 131,536 | 77,592 | |
Goodwill | 327,686 | 108,095 | |
Other intangible assets | 53,237 | 22,526 | |
Other assets | 66,205 | 55,326 | |
Total assets | 7,559,658 | 4,643,354 | |
Deposits: | |||
Non-interest bearing transaction accounts | 1,280,234 | 889,260 | |
Interest bearing transaction accounts and savings deposits | 3,485,845 | 2,006,271 | |
Time deposits | 1,320,017 | 965,187 | |
Total deposits | 6,086,096 | 3,860,718 | |
Federal funds purchased and securities sold under agreements to repurchase | 99,398 | 110,586 | |
Long-term debt and other borrowings | 162,289 | 114,682 | |
Subordinated debentures | 60,570 | 20,620 | |
Accrued interest and other liabilities | 74,450 | 42,429 | |
Total liabilities | 6,482,803 | 4,149,035 | |
Stockholders’ equity: | |||
Preferred stock, 40,040,000 shares authorized; Series A, $0.01 par value, $1,000 liquidation value per share; 30,852 shares issued and outstanding at December 31, 2015 | 30,852 | ||
Common stock, Class A, $0.01 par value; 120,000,000 shares authorized; 30,278,432 and 18,052,488 shares issued and outstanding at December 31, 2015 and 2014, respectively | 303 | 181 | |
Surplus | 662,378 | 156,568 | |
Undivided profits | 385,987 | 338,906 | |
Accumulated other comprehensive loss | (2,665) | (1,336) | |
Total stockholders’ equity | 1,076,855 | 494,319 | |
Total liabilities and stockholders’ equity | $ 7,559,658 | $ 4,643,354 | |
[1] | See Note 5, Loans Acquired, for segregation of loans acquired by loan class. In September 2015 the Company entered into an agreement withthe FDIC to terminate all loss sharing agreements. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Preferred stock, par value (in Dollars per share) | $ 0.01 | |
Preferred stock, liquidation value (in Dollars per share) | $ 1,000 | |
Preferred stock, shares authorized | 40,040,000 | |
Preferred stock, shares issued | 30,852 | |
Preferred stock, shares outstanding | 30,852 | |
Common stock Class A par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Common stock Class A shares authorized | 120,000,000 | 120,000,000 |
Common stock Class A shares issued | 30,278,432 | 18,052,488 |
Common stock Class A shares outstanding | 30,278,432 | 18,052,488 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
INTEREST INCOME | |||
Loans | $ 268,367,000 | $ 164,082,000 | $ 128,171,000 |
Federal funds sold | 126,000 | 27,000 | 19,000 |
Investment securities | 30,613,000 | 19,357,000 | 13,300,000 |
Mortgage loans held for sale | 1,051,000 | 695,000 | 467,000 |
Assets held in trading accounts | 18,000 | 17,000 | 29,000 |
Interest bearing balances due from banks | 773,000 | 857,000 | 1,127,000 |
TOTAL INTEREST INCOME | 300,948,000 | 185,035,000 | 143,113,000 |
INTEREST EXPENSE | |||
Deposits | 15,248,000 | 9,079,000 | 8,399,000 |
Federal funds purchased and securities sold under agreements to repurchase | 236,000 | 269,000 | 219,000 |
Other borrowings | 5,097,000 | 3,986,000 | 3,001,000 |
Subordinated debentures | 1,772,000 | 637,000 | 644,000 |
TOTAL INTEREST EXPENSE | 22,353,000 | 13,971,000 | 12,263,000 |
NET INTEREST INCOME | 278,595,000 | 171,064,000 | 130,850,000 |
Provision for loan losses | 9,022,000 | 7,245,000 | 4,118,000 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 269,573,000 | 163,819,000 | 126,732,000 |
NON-INTEREST INCOME | |||
Trust income | 9,261,000 | 7,111,000 | 5,842,000 |
Service charges on deposit accounts | 30,985,000 | 25,650,000 | 18,815,000 |
Other service charges and fees | 9,921,000 | 3,574,000 | 2,997,000 |
Mortgage lending income | 11,452,000 | 5,342,000 | 4,592,000 |
Investment banking income | 2,590,000 | 1,070,000 | 1,811,000 |
Debit and credit card fees | 26,660,000 | 22,866,000 | 17,833,000 |
Bank owned life insurance income | 2,680,000 | 1,843,000 | 1,319,000 |
Gain (loss) on sale of securities, net | 307,000 | 8,000 | (151,000) |
Net (loss) gain on assets covered by FDIC loss share agreements | (14,812,000) | (20,316,000) | (16,188,000) |
Other income | 16,782,000 | 15,044,000 | 3,746,000 |
TOTAL NON-INTEREST INCOME | 95,826,000 | 62,192,000 | 40,616,000 |
NON-INTEREST EXPENSE | |||
Salaries and employee benefits | 139,408,000 | 89,210,000 | 74,078,000 |
Occupancy expense, net | 16,858,000 | 12,833,000 | 10,034,000 |
Furniture and equipment expense | 14,352,000 | 9,325,000 | 7,623,000 |
Other real estate and foreclosure expense | 4,861,000 | 4,507,000 | 1,337,000 |
Deposit insurance | 4,201,000 | 3,354,000 | 2,482,000 |
Merger related costs | 13,760,000 | 7,470,000 | 6,376,000 |
Other operating expenses | 64,695,000 | 49,022,000 | 32,882,000 |
TOTAL NON-INTEREST EXPENSE | 258,135,000 | 175,721,000 | 134,812,000 |
INCOME BEFORE INCOME TAXES | 107,264,000 | 50,290,000 | 32,536,000 |
Provision for income taxes | 32,900,000 | 14,602,000 | 9,305,000 |
NET INCOME | 74,364,000 | 35,688,000 | 23,231,000 |
Preferred stock dividends | 257,000 | ||
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS | $ 74,107,000 | $ 35,688,000 | $ 23,231,000 |
BASIC EARNINGS PER SHARE (in Dollars per share) | $ 2.64 | $ 2.11 | $ 1.42 |
DILUTED EARNINGS PER SHARE (in Dollars per share) | $ 2.63 | $ 2.11 | $ 1.42 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
NET INCOME | $ 74,364 | $ 35,688 | $ 23,231 |
OTHER COMPREHENSIVE INCOME | |||
Unrealized holding (losses) gains arising during the period on available-for-sale securities | (1,880) | 2,749 | (5,513) |
Less: Reclassification adjustment for realized gains (losses) included in net income | 307 | 8 | (151) |
Other comprehensive (loss) income, before tax effect | (2,187) | 2,741 | (5,362) |
Less: Tax effect of other comprehensive (loss) income | (858) | 1,075 | (2,103) |
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME | (1,329) | 1,666 | (3,259) |
COMPREHENSIVE INCOME | $ 73,035 | $ 37,354 | $ 19,972 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
OPERATING ACTIVITIES | |||
Net income | $ 74,364,000 | $ 35,688,000 | $ 23,231,000 |
Items not requiring (providing) cash: | |||
Depreciation and amortization | 13,654,000 | 7,933,000 | 6,127,000 |
Provision for loan losses | 9,022,000 | 7,245,000 | 4,118,000 |
(Gain) loss on sale of available-for-sale securities | (307,000) | (8,000) | 151,000 |
Net (accretion) of investment securities and assets not covered by FDIC loss share | (32,933,000) | (8,711,000) | (1,233,000) |
Net amortization on borrowings | 375,000 | ||
Stock-based compensation expense | 4,018,000 | 1,423,000 | 1,417,000 |
Net accretion on assets covered by FDIC loss share | (2,709,000) | (1,497,000) | (5,878,000) |
Loss (gain) on sale of premises and equipment, net of impairment | 2,339,000 | (4,630,000) | |
Deferred income taxes | 13,599,000 | (9,029,000) | (4,618,000) |
FDIC loss share indemnification loss | 7,476,000 | ||
Gain on sale of banking operation | (2,110,000) | ||
Bank owned life insurance income | (2,680,000) | (1,843,000) | (1,319,000) |
Changes in: | |||
Interest receivable | 713,000 | 359,000 | (1,097,000) |
Mortgage loans held for sale | (9,000,000) | (11,771,000) | 15,873,000 |
Assets held in trading accounts | 2,565,000 | 1,991,000 | (2,754,000) |
Other assets | 5,453,000 | (17,313,000) | 6,047,000 |
Accrued interest and other liabilities | 1,393,000 | 6,511,000 | (3,032,000) |
Income taxes payable | 3,466,000 | 5,272,000 | (944,000) |
Net cash provided by operating activities | 88,698,000 | 11,620,000 | 36,089,000 |
INVESTING ACTIVITIES | |||
Net originations of loans not covered by FDIC loss share | (301,323,000) | (83,825,000) | (90,977,000) |
Net collections of loans covered by FDIC loss share | 23,646,000 | 55,361,000 | 78,305,000 |
Decrease in due from banks - time | 10,879,000 | ||
Proceeds from sale of student loans | 22,136,000 | ||
(Purchases) proceeds from sale of premises and equipment, net | (9,094,000) | 18,762,000 | (4,772,000) |
Proceeds from sale of foreclosed assets held for sale | 36,649,000 | 26,900,000 | 18,832,000 |
Proceeds from sale of foreclosed assets held for sale, covered by FDIC loss share | 2,858,000 | 14,328,000 | 16,274,000 |
Proceeds from sale of available-for-sale securities | 32,007,000 | 20,609,000 | 44,662,000 |
Proceeds from maturities of available-for-sale securities | 435,438,000 | 194,423,000 | 165,606,000 |
Purchases of available-for-sale securities | (445,281,000) | (265,835,000) | (89,986,000) |
Proceeds from maturities of held-to-maturity securities | 281,120,000 | 403,186,000 | 112,359,000 |
Purchases of held-to-maturity securities | (59,486,000) | (413,020,000) | (273,924,000) |
Purchases of bank owned life insurance | (12,143,000) | (7,826,000) | (7,000,000) |
Settlement of FDIC loss share agreements | 2,368,000 | ||
Cash received on FDIC loss share | 3,980,000 | 15,700,000 | 14,530,000 |
Purchases of credit card loans | (10,999,000) | ||
Cash paid on sale of banking operations, net of cash received | (68,273,000) | ||
Cash received in business combinations, net of cash paid | 197,029,000 | 11,343,000 | 35,485,000 |
Net cash provided by investing activities | 130,374,000 | 12,242,000 | 8,395,000 |
FINANCING ACTIVITIES | |||
Net change in deposits | (107,633,000) | (192,211,000) | (14,103,000) |
Dividends paid on preferred stock | (257,000) | ||
Dividends paid on common stock | (27,026,000) | (15,359,000) | (13,707,000) |
Net change in other borrowed funds | (143,914,000) | (13,385,000) | (8,988,000) |
Net change in federal funds purchased and securities sold under agreements to repurchase | (27,418,000) | (8,401,000) | 3,809,000 |
Net shares issued under stock compensation plans | 3,529,000 | 2,023,000 | 936,000 |
Repurchase of common stock | (10,848,000) | ||
Net cash used in financing activities | (302,719,000) | (227,333,000) | (42,901,000) |
(DECREASE) INCREASE IN CASH EQUIVALENTS | (83,647,000) | (203,471,000) | 1,583,000 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 335,909,000 | 539,380,000 | 537,797,000 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $ 252,262,000 | $ 335,909,000 | $ 539,380,000 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands | Delta Trust [Member]Common Stock [Member] | Delta Trust [Member]Additional Paid-in Capital [Member] | Delta Trust [Member] | Community First Bancshares, Inc. [Member]Preferred Stock [Member] | Community First Bancshares, Inc. [Member]Common Stock [Member] | Community First Bancshares, Inc. [Member]Additional Paid-in Capital [Member] | Community First Bancshares, Inc. [Member] | Liberty [Member]Common Stock [Member] | Liberty [Member]Additional Paid-in Capital [Member] | Liberty [Member] | Ozark Trust & Investment Corporation [Member]Common Stock [Member] | Ozark Trust & Investment Corporation [Member]Additional Paid-in Capital [Member] | Ozark Trust & Investment Corporation [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance at Dec. 31, 2012 | $ 165 | $ 96,587 | $ 257 | $ 309,053 | $ 406,062 | ||||||||||||||
Comprehensive income: | |||||||||||||||||||
Net income | 23,231 | 23,231 | |||||||||||||||||
Change in unrealized depreciation on available-for-sale securities, net of income taxes | (3,259) | (3,259) | |||||||||||||||||
Comprehensive income | 19,972 | ||||||||||||||||||
Stock issued as bonus shares | 1 | 228 | 229 | ||||||||||||||||
Vesting bonus shares, net of forfeitures | 1,390 | 1,390 | |||||||||||||||||
Stock issued for employee stock purchase plan | 126 | 126 | |||||||||||||||||
Exercise of stock options | 604 | 604 | |||||||||||||||||
Stock granted under stock-based compensation plans | 27 | 27 | |||||||||||||||||
Stock issued for employee stock purchase plan | (23) | (23) | |||||||||||||||||
Repurchase of common stock – (419,564 shares) | (4) | (10,844) | (10,848) | ||||||||||||||||
Cash Dividends | (13,707) | (13,707) | |||||||||||||||||
Balance at Dec. 31, 2013 | 162 | 88,095 | (3,002) | 318,577 | 403,832 | ||||||||||||||
Comprehensive income: | |||||||||||||||||||
Net income | 35,688 | 35,688 | |||||||||||||||||
Change in unrealized depreciation on available-for-sale securities, net of income taxes | 1,666 | 1,666 | |||||||||||||||||
Comprehensive income | 37,354 | ||||||||||||||||||
Stock issued as bonus shares | 1 | 441 | 442 | ||||||||||||||||
Vesting bonus shares, net of forfeitures | 1,423 | 1,423 | |||||||||||||||||
Stock issued for employee stock purchase plan | 118 | 118 | |||||||||||||||||
Exercise of stock options | 2 | 1,674 | 1,676 | ||||||||||||||||
Stock issued for employee stock purchase plan | (213) | (213) | |||||||||||||||||
Stock issued for acquisition | $ 16 | $ 65,030 | $ 65,046 | ||||||||||||||||
Cash Dividends | (15,359) | (15,359) | |||||||||||||||||
Balance at Dec. 31, 2014 | 181 | 156,568 | (1,336) | 338,906 | 494,319 | ||||||||||||||
Comprehensive income: | |||||||||||||||||||
Net income | 74,364 | 74,364 | |||||||||||||||||
Change in unrealized depreciation on available-for-sale securities, net of income taxes | (1,329) | (1,329) | |||||||||||||||||
Comprehensive income | 73,035 | ||||||||||||||||||
Stock issued as bonus shares | 1 | 1,832 | 1,833 | ||||||||||||||||
Vesting bonus shares, net of forfeitures | 2,552 | 2,552 | |||||||||||||||||
Stock issued for employee stock purchase plan | 226 | 226 | |||||||||||||||||
Exercise of stock options | 1 | 1,611 | 1,612 | ||||||||||||||||
Stock granted under stock-based compensation plans | 1,466 | 1,466 | |||||||||||||||||
Stock issued for employee stock purchase plan | (142) | (142) | |||||||||||||||||
Stock issued for acquisition | $ 30,852 | $ 65 | $ 268,277 | $ 299,194 | $ 52 | $ 212,124 | $ 212,176 | $ 3 | $ 17,864 | $ 17,867 | |||||||||
Dividends on preferred stock | (257) | (257) | |||||||||||||||||
Cash Dividends | (27,026) | (27,026) | |||||||||||||||||
Balance at Dec. 31, 2015 | $ 30,852 | $ 303 | $ 662,378 | $ (2,665) | $ 385,987 | $ 1,076,855 |
Consolidated Statements of Sto8
Consolidated Statements of Stockholders’ Equity (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Change in unrealized depreciation on available-for-sale securities, income taxes (in Dollars) | $ (858) | $ 1,075 | $ (2,103) |
Stock issued as bonus, shares | 95,520 | 133,880 | 75,006 |
Vesting bonus shares, net of forfeitures | 16,664 | 1,560 | 829 |
Stock issued for employee stock purchase plan | 6,528 | 4,897 | 5,244 |
Exercise of stock options, shares | 71,368 | 64,720 | 24,290 |
Securities exchanged under stock option plan | 4,350 | 5,220 | 669 |
Cash dividends, per share (in Dollars per share) | $ 0.92 | $ 0.88 | $ 0.84 |
Stock issued for acquisition – shares | 66,000 | ||
Common Stock [Member] | |||
Repurchase of common stock | 419,564 | ||
Delta Trust [Member] | |||
Stock issued for acquisition – shares | 1,629,515 | ||
Community First Bancshares, Inc. [Member] | Preferred Stock [Member] | |||
Stock issued for acquisition – shares | 30,852 | ||
Community First Bancshares, Inc. [Member] | Common Stock [Member] | |||
Stock issued for acquisition – shares | 6,552,915 | ||
Liberty [Member] | Common Stock [Member] | |||
Stock issued for acquisition – shares | 5,181,337 | ||
Ozark Trust & Investment Corporation [Member] | Common Stock [Member] | |||
Stock issued for acquisition – shares | 339,290 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Principles of Consolidation Simmons First National Corporation (the “Company”) is primarily engaged in providing a full range of banking services to individual and corporate customers through its subsidiaries and their branch banks with offices in Arkansas, Kansas, Missouri and Tennessee. The Company is subject to competition from other financial institutions. The Company also is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. The consolidated financial statements include the accounts of Simmons First National Corporation and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. Operating Segments The Company is organized on a regional basis upon which management makes decisions regarding how to allocate resources and assess performance. Each of the regions provides a group of similar community banking services, including such products and services as loans; time deposits, checking and savings accounts; personal and corporate trust services; credit cards; investment management; insurance; and securities and investment services. Loan products include consumer, real estate, commercial, agricultural, equipment and SBA lending. The individual bank regions have similar operating and economic characteristics and have been reported as one aggregated operating segment. The Company also considers its trust, investment and insurance services to be operating segments. Information on these segments is not reported separately since they do not meet the quantitative thresholds under ASC Topic 280-10-50-12. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and the valuation of covered loans and related indemnification asset. In connection with the determination of the allowance for loan losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. Reclassifications Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings. Cash Equivalents The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. For purposes of the consolidated statements of cash flows, cash and cash equivalents are considered to include cash and non-interest bearing balances due from banks, interest bearing balances due from banks and federal funds sold and securities purchased under agreements to resell. Investment Securities Held-to-maturity securities, which include any security for which the Company has the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts. Premiums and discounts are amortized and accreted, respectively, to interest income using the constant yield method over the period to maturity. Available-for-sale securities, which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Realized gains and losses, based on specifically identified amortized cost of the individual security, are included in other income. Unrealized gains and losses are recorded, net of related income tax effects, in stockholders' equity. Premiums and discounts are amortized and accreted, respectively, to interest income using the constant yield method over the period to maturity. Trading securities, which include any security held primarily for near-term sale, are carried at fair value. Gains and losses on trading securities are included in other income. The Company applies accounting guidance related to recognition and presentation of other-than-temporary impairment under ASC Topic 320-10. When the Company does not intend to sell a debt security, and it is more likely than not, the Company will not have to sell the security before recovery of its cost basis, it recognizes the credit component of an other-than-temporary impairment of a debt security in earnings and the remaining portion in other comprehensive income. For held-to-maturity debt securities, the amount of an other-than-temporary impairment recorded in other comprehensive income for the noncredit portion of a previous other-than-temporary impairment is amortized prospectively over the remaining life of the security on the basis of the timing of future estimated cash flows of the security. As a result of this guidance, the Company’s consolidated statements of income reflect the full impairment (that is, the difference between the security’s amortized cost basis and fair value) on debt securities that the Company intends to sell or would more likely than not be required to sell before the expected recovery of the amortized cost basis. For available-for-sale and held-to-maturity debt securities that management has no intent to sell and believes that it more likely than not will not be required to sell prior to recovery, only the credit loss component of the impairment is recognized in earnings, while the noncredit loss is recognized in accumulated other comprehensive income. The credit loss component recognized in earnings is identified as the amount of principal cash flows not expected to be received over the remaining term of the security as projected based on cash flow projections. Mortgage Loans Held For Sale Mortgage loans held for sale are carried at the lower of cost or fair value, determined using an aggregate basis. Write-downs to fair value are recognized as a charge to earnings at the time the decline in value occurs. Forward commitments to sell mortgage loans are acquired to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. The forward commitments acquired by the Company for mortgage loans in process of origination are not mandatory forward commitments. These commitments are structured on a best efforts basis; therefore, the Company is not required to substitute another loan or to buy back the commitment if the original loan does not fund. Typically, the Company delivers the mortgage loans within a few days after the loans are funded. These commitments are derivative instruments and their fair values at December 31, 2015 and 2014 are not material. Gains and losses resulting from sales of mortgage loans are recognized when the respective loans are sold to investors. Gains and losses are determined by the difference between the selling price and the carrying amount of the loans sold, net of discounts collected or paid. Fees received from borrowers to guarantee the funding of mortgage loans held for sale are recognized as income or expense when the loans are sold or when it becomes evident that the commitment will not be used. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-offs are reported at their outstanding principal adjusted for any loans charged off, the allowance for loan losses and any unamortized deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. The accrual of interest on loans, except on certain government guaranteed loans, is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. Discounts and premiums on purchased residential real estate loans are amortized to income using the interest method over the remaining period to contractual maturity, adjusted for anticipated prepayments. Discounts and premiums on purchased consumer loans are recognized over the expected lives of the loans using methods that approximate the interest method. For discussion of the Company’s accounting for acquired loans, see Acquisition Accounting, Covered Loans and Related Indemnification Asset later in this section. Allowance for Loan Losses The allowance for loan losses is management’s estimate of probable losses in the loan portfolio. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Allocations to the allowance for loan losses are categorized as either general reserves or specific reserves. The general reserve is calculated monthly based on management’s assessment of several factors such as (1) historical loss experience based on volumes and types, (2) volume and trends in delinquencies and nonaccruals, (3) lending policies and procedures including those for loan losses, collections and recoveries, (4) national, state and local economic trends and conditions, (5) concentrations of credit within the loan portfolio, (6) the experience, ability and depth of lending management and staff and (7) other factors and trends that will affect specific loans and categories of loans. The Company establishes general allocations for each major loan category and risk rating. This category also includes allocations to loans which are collectively evaluated for loss such as credit cards, one-to-four family owner occupied residential real estate loans and other consumer loans. General reserves have been established, based upon the aforementioned factors and allocated to the individual loan categories. Specific reserves are provided on loans that are considered impaired when it is probable that we will not receive all amounts due according to the contractual terms of the loan, including scheduled principal and interest payments. This includes loans that are delinquent 90 days or more, nonaccrual loans and certain other loans identified by management. Certain other loans identified by management consist of performing loans where management expects that the Company will not receive all amounts due according to the contractual terms of the loan, including scheduled principal and interest payments. Specific reserves are accrued for probable losses on specific loans evaluated for impairment for which the basis of each loan, including accrued interest, exceeds the discounted amount of expected future collections of interest and principal or, alternatively, the fair value of loan collateral. Accrual of interest is discontinued and interest accrued and unpaid is removed at the time such amounts are delinquent 90 days unless management is aware of circumstances which warrant continuing the interest accrual. Interest is recognized for nonaccrual loans only upon receipt and only after all principal amounts are current according to the terms of the contract. Management’s evaluation of the allowance for loan losses is inherently subjective as it requires material estimates. The actual amounts of loan losses realized in the near term could differ from the amounts estimated in arriving at the allowance for loan losses reported in the financial statements. Reserve for Unfunded Commitments In addition to the allowance for loan losses, the Company has established a reserve for unfunded commitments, classified in other liabilities. This reserve is maintained at a level sufficient to absorb losses arising from unfunded loan commitments. The adequacy of the reserve for unfunded commitments is determined monthly based on methodology similar to the Company’s methodology for determining the allowance for loan losses. Net adjustments to the reserve for unfunded commitments are included in other non-interest expense. Acquisition Accounting, Acquired Loans The Company accounts for its acquisitions under ASC Topic 805, Business Combinations The Company evaluates loans acquired in accordance with the provisions of ASC Topic 310-20, Nonrefundable Fees and Other Costs Loans and Debt Securities Acquired with Deteriorated Credit Quality For impaired loans accounted for under ASC Topic 310-30, the Company continues to estimate cash flows expected to be collected on these loans. The Company evaluates at each balance sheet date whether the present value of the loans determined using the effective interest rates has decreased significantly and if so, recognize a provision for loan loss in our consolidated statement of income. For any significant increases in cash flows expected to be collected, the Company adjusts the amount of accretable yield recognized on a prospective basis over the remaining life of the loan. Covered Loans and Related Indemnification Asset In September, we entered into an agreement with the FDIC to terminate all loss share agreements which were entered into in 2010 and 2012 in conjunction with the Company’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of four failed banks in FDIC-assisted transactions. Under the early termination, all rights and obligations of the Company and the FDIC under the FDIC loss share agreements, including the clawback provisions and the settlement of loss share and expense reimbursement claims, have been resolved and terminated. Under the terms of the agreement, the FDIC made a net payment of $2,368,000 to the bank as consideration for the early termination of the loss share agreements. The early termination was recorded in the Company’s financial statements by removing the FDIC Indemnification Asset, receivable from FDIC, the FDIC True-up liability and recording a one-time, pre-tax charge of $7,476,000. As a result, the Company reclassified loans previously covered by FDIC loss share to loans acquired, not covered by FDIC loss share. Foreclosed assets previously covered by FDIC loss share were reclassified to foreclosed assets not covered by FDIC loss share. For further discussion of our acquisition and loan accounting, see Note 2, Acquisitions, and Note 5, Loans Acquired. Premises and Equipment Depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are capitalized and amortized by the straight-line method over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Premises Held for Sale The Company records premises held for sale at the lower of (1) cost less accumulated depreciation or (2) fair value less estimated selling expenses. These assets are assessed for impairment at the time they are reclassified as held for sale and periodically thereafter. Foreclosed Assets Held For Sale Assets acquired by foreclosure or in settlement of debt and held for sale are valued at estimated fair value as of the date of foreclosure, and a related valuation allowance is provided for estimated costs to sell the assets. Management evaluates the value of foreclosed assets held for sale periodically and increases the valuation allowance for any subsequent declines in fair value. Changes in the valuation allowance are charged or credited to other expense. Bank Owned Life Insurance The Company maintains bank-owned life insurance policies on certain current and former employees and directors, which are recorded at their cash surrender values as determined by the insurance carriers. The appreciation in the cash surrender value of the policies is recognized as a component of non-interest income in the Company’s consolidated statements of income. Goodwill and Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that also lack physical substance but can be separately distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. The Company performs an annual goodwill impairment test, and more frequently if circumstances warrant, in accordance with ASC Topic 350, Intangibles – Goodwill and Other Derivative Financial Instruments The Company may enter into derivative contracts for the purposes of managing exposure to interest rate risk to meet the financing needs of its customers. The Company records all derivatives on the balance sheet at fair value. Historically, the Company’s policy has been not to invest in derivative type investments, but, in an effort to meet the financing needs of its customers, the Company has entered into limited fair value hedges. Fair value hedges include interest rate swap agreements on fixed rate loans. For derivatives designated as hedging the exposure to changes in the fair value of the hedged item, the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain of the hedging instrument. The fair value hedges are considered to be highly effective and any hedge ineffectiveness was deemed not material. The notional amount of the swaps was $61.3 million at December 31, 2015, and $14.6 million at December 31, 2014. Securities Sold Under Agreements to Repurchase The Company sells securities under agreements to repurchase to meet customer needs for sweep accounts. At the point funds deposited by customers become investable, those funds are used to purchase securities owned by the Company and held in its general account with the designation of Customers’ Securities. A third party maintains control over the securities underlying overnight repurchase agreements. The securities involved in these transactions are generally U.S. Treasury or Federal Agency issues. Securities sold under agreements to repurchase generally mature on the banking day following that on which the investment was initially purchased and are treated as collateralized financing transactions which are recorded at the amounts at which the securities were sold plus accrued interest. Interest rates and maturity dates of the securities involved vary and are not intended to be matched with funds from customers. Bankcard Fee Income Periodic bankcard fees, net of direct origination costs, are recognized as revenue on a straight-line basis over the period the fee entitles the cardholder to use the card. Income Taxes The Company accounts for income taxes in accordance with income tax accounting guidance in ASC Topic 740, Income Taxes Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company files consolidated income tax returns with its subsidiaries. Earnings Per Share Basic earnings per share are computed based on the weighted average number of shares outstanding during each year. Diluted earnings per share are computed using the weighted average common shares and all potential dilutive common shares outstanding during the period. The computation of per share earnings is as follows: (In thousands, except per share data) 2015 2014 2013 Net income available to common shareholders $ 74,107 $ 35,688 $ 23,231 Average common shares outstanding 28,084 16,879 16,339 Average potential dilutive common shares 126 43 13 Average diluted common shares 28,210 16,922 16,352 Basic earnings per share $ 2.64 $ 2.11 $ 1.42 Diluted earnings per share $ 2.63 $ 2.11 $ 1.42 Stock options to purchase 84,780 shares for the year ended December 31, 2013 were not included in the earnings per share calculation because the exercise price exceeded the average market price. There were no such shares for the years ended December 31, 2015 and 2014. Stock-Based Compensation The Company has adopted various stock-based compensation plans. The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights and bonus stock awards. Pursuant to the plans, shares are reserved for future issuance by the Company, upon exercise of stock options or awarding of bonus shares granted to directors, officers and other key employees. In accordance with ASC Topic 718, Compensation – Stock Compensation Subsequent Events As part of the acquisition of Community First, the Company issued 30,852 shares of Senior Non-Cumulative Perpetual Preferred Stock, Series A (“Simmons Series A Preferred Stock”). The preferred stock is held by the United States Department of the Treasury (“Treasury”) as the Community First Series C Preferred Stock was issued when Community First entered into a Small Business Lending Fund Securities Purchase Agreement with the Treasury. On January 29, 2016, the Company redeemed all of the preferred stock, including accrued and unpaid dividends. On February 19, 2016, the trust and fiduciary business operations of Simmons First Trust Company, N.A., a wholly-owned subsidiary of Simmons Bank, were merged into Simmons Bank. |
Note 2 - Acquisitions
Note 2 - Acquisitions | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | NOTE 2: ACQUISITIONS Liberty Bancshares, Inc. On February 27, 2015, Simmons First National Corporation completed the acquisition of Liberty Bancshares, Inc. (“Liberty”), headquartered in Springfield, Missouri, including its wholly-owned bank subsidiary Liberty Bank (“LB”). The Company issued 5,181,337 shares of its common stock valued at approximately $212.2 million as of February 27, 2015 in exchange for all outstanding shares of Liberty common stock. Prior to the acquisition, Liberty conducted banking business from 24 branches located in southwest Missouri. Including the effects of the purchase accounting adjustments, the Company acquired approximately $1.1 billion in assets, approximately $780.7 million in loans including loan discounts and approximately $874.7 million in deposits. The Company completed the systems conversion and merged LB into Simmons First National Bank (“Simmons Bank” or the “Bank”) on April 24, 2015. Goodwill of $95.2 million was recorded as a result of the transaction. The merger strengthened the Company’s position in the southwest Missouri market and the Company believes that it will be able to achieve cost savings by integrating the two companies and combining accounting, data processing, and other administrative functions all of which gave rise to the goodwill recorded. The goodwill will not be deductible for tax purposes. A summary, at fair value, of the assets acquired and liabilities assumed in the Liberty transaction, as of the acquisition date, is as follows: (In thousands) Acquired from Fair Value Fair Assets Acquired Cash and due from banks, including time deposits $ 102,637 $ (14 ) $ 102,623 Federal funds sold 7,060 -- 7,060 Investment securities 99,123 (335 ) 98,788 Loans acquired, not covered by FDIC loss share 790,493 (9,835 ) 780,658 Allowance for loan losses (10,422 ) 10,422 -- Premises and equipment 34,239 (3,215 ) 31,024 Bank owned life insurance 16,972 -- 16,972 Core deposit intangible 699 13,857 14,556 Other intangibles 3,063 (3,063 ) -- Other assets 17,703 (3,112 ) 14,591 Total assets acquired $ 1,061,567 $ 4,705 $ 1,066,272 Liabilities Assumed Deposits: Non-interest bearing transaction accounts $ 146,618 $ -- $ 146,618 Interest bearing transaction accounts and savings deposits 543,183 -- 543,183 Time deposits 184,913 -- 184,913 Total deposits 874,714 -- 874,714 FHLB borrowings 46,128 223 46,351 Subordinated debentures 20,620 (510 ) 20,110 Accrued interest and other liabilities 7,828 300 8,128 Total liabilities assumed 949,290 13 949,303 Equity 112,277 (112,277 ) -- Total equity assumed 112,277 (112,277 ) -- Total liabilities and equity assumed $ 1,061,567 $ (112,264 ) $ 949,303 Net assets acquired 116,969 Purchase price 212,176 Goodwill $ 95,207 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented in the Liberty acquisition above. Cash and due from banks, time deposits due from banks and federal funds sold Investment securities Loans acquired Premises and equipment Bank owned life insurance Goodwill Core deposit intangible Other assets Deposits FHLB borrowings Subordinated debentures Accrued interest and other liabilities During 2015 the Company finalized its analysis of the acquired loans and subordinated debentures along with the other acquired assets and assumed liabilities. The Company’s operating results for 2015 include the operating results of the acquired assets and assumed liabilities of Liberty subsequent to the acquisition date. Community First Bancshares, Inc. On February 27, 2015, Simmons First National Corporation completed the acquisition of Community First Bancshares, Inc. (“Community First”), headquartered in Union City, Tennessee, including its wholly-owned bank subsidiary First State Bank (“FSB”). The Company issued 6,552,915 shares of its common stock valued at approximately $268.3 million as of February 27, 2015, plus $9,974 in cash in exchange for all outstanding shares of Community First common stock. The Company also issued $30.9 million of preferred stock in exchange for all outstanding shares of Community First preferred stock. Prior to the acquisition, Community First conducted banking business from 33 branches located across Tennessee. Including the effects of the purchase accounting adjustments, the Company acquired approximately $1.9 billion in assets, approximately $1.1 billion in loans including loan discounts and approximately $1.5 billion in deposits. The Company completed the systems conversion and merged FSB into Simmons Bank on September 4, 2015. Goodwill of $110.4 million was recorded as a result of the transaction. The merger allowed the Company’s entrance into the Tennessee market and will serve as a launching platform for possible expansion into adjacent areas. The Company believes that it will be able to achieve cost savings by integrating the two companies and combining accounting, data processing, and other administrative functions. Further the Company believes it can benefit from the addition of Community First's small-business lending platform while cross-selling its trust products in Community First’s market. This combination of factors gave rise to the goodwill recorded. The goodwill will not be deductible for tax purposes. A summary, at fair value, of the assets acquired and liabilities assumed in the Community First transaction, as of the acquisition date, is as follows: (In thousands) Acquired from Fair Value Fair Assets Acquired Cash and due from banks $ 39,848 $ -- $ 39,848 Federal funds sold 76,508 -- 76,508 Investment securities 570,199 (3,381 ) 566,818 Loans acquired, not covered by FDIC loss share 1,163,398 (26,855 ) 1,136,543 Allowance for loan losses (14,635 ) 14,635 -- Foreclosed assets not covered by FDIC loss share 747 -- 747 Premises and equipment 44,837 (2,794 ) 42,043 Bank owned life insurance 22,149 -- 22,149 Goodwill 100 (100 ) -- Core deposit intangible -- 11,273 11,273 Other intangibles -- 420 420 Deferred tax asset 3,700 3,538 7,238 Other assets 11,474 -- 11,474 Total assets acquired $ 1,918,325 $ (3,264 ) $ 1,915,061 Liabilities Assumed Deposits: Non-interest bearing transaction accounts $ 103,825 $ -- $ 103,825 Interest bearing transaction accounts and savings deposits 995,207 -- 995,207 Time deposits 436,181 849 437,030 Total deposits 1,535,213 849 1,536,062 Federal funds purchased and securities sold under agreement to repurchase 16,230 -- 16,230 FHLB borrowings 143,047 674 143,721 Subordinated debentures 21,754 (840 ) 20,914 Accrued interest and other liabilities 8,769 601 9,370 Total liabilities assumed 1,725,013 1,284 1,726,297 Equity 193,312 (193,312 ) -- Total equity assumed 193,312 (193,312 ) -- Total liabilities and equity assumed $ 1,918,325 $ (192,028 ) $ 1,726,297 Net assets acquired 188,764 Purchase price 299,204 Goodwill $ 110,440 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented in the Community First acquisition above. Cash and due from banks and federal funds sold Investment securities Loans acquired Foreclosed assets held for sale Premises and equipment Bank owned life insurance Goodwill Core deposit intangible Other intangibles Deferred tax asset Other assets Deposits Federal funds purchased and securities sold under agreement to repurchase FHLB borrowings Subordinated debentures Accrued interest and other liabilities During 2015 the Company finalized its analysis of the acquired loans and subordinated debentures along with the other acquired assets and assumed liabilities. The Company’s operating results for 2015 include the operating results of the acquired assets and assumed liabilities of Community First subsequent to the acquisition date. Summary of Unaudited Pro forma Information The unaudited pro forma information below for the years ended December 31, 2015 and 2014 gives effect to the Liberty and Community First acquisitions as if the acquisitions had occurred on January 1, 2014. P ro forma earnings for the year ended December 31, 2015 were adjusted to exclude $7.4 million of acquisition-related costs, net of tax, incurred by Simmons during 2015. The pro forma financial information is not necessarily indicative of the results of operations if the acquisitions had been effective as of this date. Years Ended December 31 (In thousands, except per share data) 2015 2014 Revenue (1) $ 395,959 $ 390,606 Net income $ 85,773 $ 64,166 Earnings per share $ 2.68 $ 2.24 (1) Net interest income plus noninterest income. Consolidated year-to-date 2015 results included approximately $46.0 million of revenue and $24.2 million of net income attributable to the Liberty acquisition and $77.3 million of revenue and $33.3 million of net income attributable to the Community First acquisition. Ozark Trust & Investment Corporation On October 29, 2015, Simmons First National Corporation completed the acquisition of Ozark Trust & Investment Corporation (“Ozark Trust”), headquartered in Springfield, Missouri, including its wholly-owned non-deposit trust company, Trust Company of the Ozarks (“TCO”). Simmons issued 339,290 shares of its common stock valued at approximately $17.9 million as of October 29, 2015, plus $5.8 million in cash in exchange for all outstanding shares of Ozark Trust common stock. Prior to the acquisition, Ozark Trust had over $1 billion in assets under management. The Company owned 1,000 shares of Ozark Trust’s common stock, which it acquired through its acquisition of Liberty in February 2015. The purchase price is allocated among the net assets of Ozark Trust acquired as appropriate, with the remaining balance being reported as goodwill. A summary, at fair value, of the assets acquired and liabilities assumed in the Ozark Trust transaction, as of the acquisition date, is as follows: (In thousands) Acquired from Fair Value Fair Assets Acquired Cash $ 1,756 $ -- $ 1,756 Investment securities 241 -- 241 Premises and equipment 1,126 418 1,544 Other intangibles -- 9,733 9,733 Other assets 752 -- 752 Total assets acquired $ 3,875 $ 10,151 $ 14,026 Liabilities Assumed Deferred tax liability 63 3,982 4,045 Accrued and other liabilities 302 -- 302 Total liabilities assumed 365 3,982 4,347 Equity 3,510 (3,510 ) -- Total equity assumed 3,510 (3,510 ) -- Total liabilities and equity assumed $ 3,875 $ 472 $ 4,347 Net assets acquired 9,679 Purchase price 23,623 Goodwill $ 13,944 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented in the Ozark Trust acquisition above. Cash Investment securities Premises and equipment Goodwill Other intangibles Other assets Deferred tax liability The purchase price allocation and certain fair value measurements remain preliminary due to the timing of the acquisition. Management will continue to review the estimated fair values and to evaluate the assumed tax positions. The Company expects to finalize its analysis of the acquired assets and assumed liabilities in this transaction over the next few months, within one year of the acquisition. Therefore, adjustments to the estimated amounts and carrying values may occur. The Company’s operating results for 2015 include the operating results of the acquired assets and assumed liabilities of Ozark Trust subsequent to the acquisition date. This acquisition is not considered significant to the Company’s financial statements, and thus no proforma information is presented. Delta Trust & Banking Corporation On August 31, 2014, Simmons First National Corporation completed the acquisition of Delta Trust & Banking Corporation (“Delta Trust”), headquartered in Little Rock, Arkansas, including its wholly-owned bank subsidiary Delta Trust & Bank (“DTB”). Simmons issued 1,629,515 shares of its common stock valued at approximately $65.0 million as of August 29, 2014, plus $2.4 million in cash in exchange for all outstanding shares of Delta Trust common stock. Prior to the acquisition, Delta Trust conducted banking business from 9 branches located in central, south and northwest Arkansas. Including the effects of the purchase accounting adjustments, the Company acquired approximately $417 million in assets, approximately $312 million in loans including loan discounts and approximately $355 million in deposits. The Company completed the systems conversion and merged DTB into Simmons Bank on October 24, 2014. A summary, at fair value, of the assets acquired and liabilities assumed in the Delta Trust transaction, as of the acquisition date, is as follows: (In thousands) Acquired from Fair Value Fair Assets Acquired Cash and due from banks $ 13,739 $ -- $ 13,739 Investment securities 62,410 (37 ) 62,373 Loans acquired, not covered by FDIC loss share 326,829 (15,149 ) 311,680 Allowance for loan losses (6,008 ) 6,008 -- Foreclosed assets not covered by FDIC loss share 3,262 (1,471 ) 1,791 Premises and equipment 4,405 (433 ) 3,972 Bank owned life insurance 7,530 -- 7,530 Goodwill 822 (822 ) -- Core deposit intangible -- 4,318 4,318 Other intangibles 137 5,003 5,140 Deferred tax asset 1,859 558 2,417 Other assets 5,807 (1,381 ) 4,426 Total assets acquired $ 420,792 $ (3,406 ) $ 417,386 Liabilities Assumed Deposits: Non-interest bearing transaction accounts $ 63,259 $ -- $ 63,259 Interest bearing transaction accounts and savings deposits 200,596 -- 200,596 Time deposits 91,507 -- 91,507 Total deposits 355,362 -- 355,362 Fed funds purchased 11,100 -- 11,100 Other borrowings 11,106 (129 ) 10,977 Accrued interest and other liabilities 1,528 -- 1,528 Total liabilities assumed 379,096 (129 ) 378,967 Equity 41,696 (41,696 ) -- Total equity assumed 41,696 (41,696 ) -- Total liabilities and equity assumed $ 420,792 $ (41,825 ) $ 378,967 Net assets acquired 38,419 Purchase price 67,441 Goodwill $ 29,022 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented in the Delta Trust acquisition above. Cash and due from banks and interest bearing balances due from banks Investment securities Loans acquired Foreclosed assets held for sale Premises and equipment Bank owned life insurance Goodwill Core deposit intangible Other intangibles Deferred tax asset Other assets Deposits Federal funds purchased Other borrowings During 2015 the Company finalized its analysis of the acquired loans along with the other acquired assets and assumed liabilities in this transaction. The Company’s operating results for 2015 and 2014 include the operating results of the acquired assets and assumed liabilities of Delta Trust subsequent to the acquisition date. This acquisition is not considered significant to the Company’s financial statements, and thus no proforma information is presented. Metropolitan National Bank On November 25, 2013, Simmons First National Corporation completed the acquisition of Metropolitan National Bank (“Metropolitan” or “MNB”), with its principal office located in Little Rock, Arkansas, pursuant to a Stock Purchase Agreement between the Company and Rogers Bancshares, Inc. (“RBI”), in which the Company purchased all the stock of Metropolitan for $53.6 million in cash. The acquisition was conducted in accordance with the provisions of Section 363 of the United States Bankruptcy Code. As part of the acquisition, Metropolitan was merged into Simmons Bank. The Company recorded $6.6 million of pre-tax merger costs related to the acquisition. Prior to the acquisition, Metropolitan conducted banking business from 45 branches located in central and northwest Arkansas. Including the effects of the purchase accounting adjustments, the Company acquired approximately $884 million in assets, approximately $457 million in loans, net of discounts, and $838 million of deposits. A summary, at fair value, of the assets acquired and liabilities assumed in the Metropolitan transaction, as of the acquisition date, is as follows: (In thousands) Acquired from Fair Value Fair Assets Acquired Cash and due from banks $ 12,026 $ -- $ 12,026 Interest bearing balances due from banks 77,059 -- 77,059 Investment securities 235,160 (2,259 ) 232,901 Loans acquired, not covered by FDIC loss share 494,839 (37,467 ) 457,372 Allowance for loan losses (19,025 ) 19,025 -- Foreclosed assets not covered by FDIC loss share 64,397 (21,455 ) 42,942 Premises and equipment 74,753 (22,575 ) 52,178 Core deposit intangible -- 9,844 9,844 Deferred tax asset -- 30,699 30,699 Other assets 5,646 (1,327 ) 4,319 Total assets acquired 944,855 (25,515 ) 919,340 Liabilities Assumed Deposits: Non-interest bearing transaction accounts 150,259 -- 150,259 Interest bearing transaction accounts and savings deposits 341,410 -- 341,410 Time deposits 345,326 512 345,838 Total deposits 836,995 512 837,507 Fed funds purchased and other borrowings 36,637 -- 36,637 Accrued interest and other liabilities 9,443 77 9,520 Total liabilities assumed 883,075 589 883,664 Equity 61,780 (61,780 ) -- Total equity assumed 61,780 (61,780 ) -- Total liabilities and equity assumed $ 944,855 $ (61,191 ) $ 883,664 Net assets acquired 35,676 Purchase price 53,600 Goodwill $ 17,924 The following is a description of the methods used to determine the fair values of significant assets and liabilities presented in the Metropolitan acquisition above. Cash and due from banks and interest bearing balances due from banks Investment securities Loans acquired Foreclosed assets held for sale Premises and equipment Goodwill Core deposit intangible Deferred tax asset Other assets Deposits Federal funds purchased and other borrowings Accrued interest and other liabilities During 2014 the Company finalized its analysis of the acquired loans along with the other acquired assets and assumed liabilities in this transaction. The Company’s operating results for 2015, 2014 and 2013 include the operating results of the acquired assets and assumed liabilities of Metropolitan subsequent to the acquisition date. Due to the significant fair value adjustments recorded and the fact Metropolitan was acquired under bankruptcy proceedings, historical results are not believed to be relevant to the Company’s results, and thus no pro forma information is presented. |
Note 3 - Investment Securities
Note 3 - Investment Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3: INVESTMENT SECURITIES The amortized cost and fair value of investment securities that are classified as held-to-maturity and available-for-sale are as follows: Years Ended December 31 2015 2014 (In thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Held-to-Maturity U.S. Government agencies $ 237,139 $ 582 $ (1,395 ) $ 236,326 $ 418,914 $ 929 $ (4,055 ) $ 415,788 Mortgage-backed securities 24,774 86 (290 ) 24,570 29,743 56 (411 ) 29,388 State and political subdivisions 440,676 9,138 (123 ) 449,691 328,310 7,000 (573 ) 334,737 Other securities 2,784 -- -- 2,784 620 -- -- 620 Total $ 705,373 $ 9,806 $ (1,808 ) $ 713,371 $ 777,587 $ 7,985 $ (5,039 ) $ 780,533 Available-for-Sale U.S. Treasury $ 4,000 $ -- $ (6 ) $ 3,994 $ 4,000 $ 1 $ (9 ) $ 3,992 U.S. Government agencies 121,017 118 (898 ) 120,237 275,381 15 (2,580 ) 272,816 Mortgage-backed securities 650,619 937 (4,130 ) 647,426 1,579 -- (7 ) 1,572 State and political subdivisions 9,762 112 -- 9,874 6,536 7 (3 ) 6,540 Other securities 40,394 420 (938 ) 39,876 19,985 386 (8 ) 20,363 Total $ 825,792 $ 1,587 $ (5,972 ) $ 821,407 $ 307,481 $ 409 $ (2,607 ) $ 305,283 Securities with limited marketability, such as stock in the Federal Reserve Bank and the Federal Home Loan Bank, are carried at cost and are reported as other available-for-sale securities in the table above. Certain investment securities are valued at less than their historical cost. Total fair value of these investments at December 31, 2015 and 2014, was $872.4 million and $680.5 million, which is approximately 57.1% and 62.8%, respectively, of the Company’s combined available-for-sale and held-to-maturity investment portfolios. The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31: Less Than 12 Months 12 Months or More Total (In thousands) Estimated Gross Estimated Gross Estimated Gross December 31, 2015 Held-to-Maturity U.S. Government agencies $ 107,758 $ 567 $ 79,166 $ 828 $ 186,924 $ 1,395 Mortgage-backed securities 7,958 94 8,144 196 16,102 290 State and political subdivisions 27,866 100 3,946 23 31,812 123 Total $ 143,582 $ 761 $ 91,256 $ 1,047 $ 234,838 $ 1,808 Available-for-Sale U.S. Treasury $ 3,994 $ 6 $ -- $ -- $ 3,994 $ 6 U.S. Government agencies 62,473 317 46,023 581 108,496 898 Mortgage-backed securities 523,185 4,130 -- -- 523,185 4,130 State and political subdivisions 281 -- -- -- 281 -- Other securities 1,060 937 510 1 1,570 938 Total $ 590,993 $ 5,390 $ 46,533 $ 582 $ 637,526 $ 5,972 December 31, 2014 Held-to-Maturity U.S. Government agencies $ 265,591 $ 2,500 $ 84,398 $ 1,555 $ 349,989 $ 4,055 Mortgage-backed securities 10,077 67 14,250 344 24,327 411 State and political subdivisions 57,607 444 8,976 129 66,583 573 Total $ 333,275 $ 3,011 $ 107,624 $ 2,028 $ 440,899 $ 5,039 Available-for-Sale U.S. Treasury $ 3,992 $ 9 $ -- $ -- $ 3,992 $ 9 U.S. Government agencies 171,114 1,472 61,195 1,108 232,309 2,580 Mortgage-backed securities 1,542 7 -- -- 1,542 7 State and political subdivisions 1,005 3 -- -- 1,005 3 Other securities 764 8 -- -- 764 8 Total $ 178,417 $ 1,499 $ 61,195 $ 1,108 $ 239,612 $ 2,607 These declines primarily resulted from the rate for these investments yielding less than current market rates. Based on evaluation of available evidence, management believes the declines in fair value for these securities are temporary. Management does not have the intent to sell these securities and management believes it is more likely than not the Company will not have to sell these securities before recovery of their amortized cost basis less any current period credit losses. Declines in the fair value of held-to-maturity and available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers, among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Management has the ability and intent to hold the securities classified as held to maturity until they mature, at which time the Company expects to receive full value for the securities. Furthermore, as of December 31, 2015, management also had the ability and intent to hold the securities classified as available-for-sale for a period of time sufficient for a recovery of cost. The unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the bonds approach their maturity date or repricing date or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Accordingly, as of December 31, 2015, management believes the impairments detailed in the table above are temporary. Should the impairment of any of these securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. Income earned on the above securities for the years ended December 31, 2015, 2014 and 2013, is as follows: (In thousands) 2015 2014 2013 Taxable Held-to-maturity $ 5,162 $ 5,839 $ 3,314 Available-for-sale 12,129 2,785 2,239 Non-taxable Held-to-maturity 11,635 10,625 7,682 Available-for-sale 1,687 108 65 Total $ 30,613 $ 19,357 $ 13,300 The amortized cost and estimated fair value by maturity of securities are shown in the following table. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. Accordingly, actual maturities may differ from contractual maturities. Held-to-Maturity Available-for-Sale (In thousands) Amortized Fair Amortized Fair Value One year or less $ 28,739 $ 28,807 $ 28,543 $ 28,512 After one through five years 315,065 314,557 88,911 88,048 After five through ten years 127,795 130,087 13,727 13,899 After ten years 209,000 215,350 5,363 5,412 Securities not due on a single maturity date 24,774 24,570 650,619 647,426 Other securities (no maturity) -- -- 38,629 38,110 Total $ 705,373 $ 713,371 $ 825,792 $ 821,407 The carrying value, which approximates the fair value, of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $840.4 million at December 31, 2015 and $520.4 million at December 31, 2014. The book value of securities sold under agreements to repurchase amounted to $96.8 million and $100.8 million for December 31, 2015 and 2014, respectively. There were $350,000 of gross realized gains and $43,000 of realized losses from the sale of available for sale securities during the year ended December 31, 2015. There were $199,000 of gross realized gains and $191,000 of realized losses from the sale of available for sale securities during the year ended December 31, 2014. There were $151,000 of gross realized gains and $302,000 of realized losses from the sale of available for sale securities during the year ended December 31, 2013. As part of its strategy related to the 2012 acquisitions, the Company liquidated the acquired mortgage-backed securities, resulting in $193,000 of net realized losses during 2013. The income tax expense/benefit related to security gains/losses was 39.225% of the gross amounts. The state and political subdivision debt obligations are primarily non-rated bonds and represent small, Arkansas, Illinois, Kansas, Missouri, Tennessee and Texas issues, which are evaluated on an ongoing basis. |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4: LOANS AND ALLOWANCE FOR LOAN LOSSES At December 31, 2015, the Company’s gross loan portfolio was $4.92 billion, compared to $2.74 billion at December 31, 2014. The various categories of loans are summarized as follows: (In thousands) 2015 2014 Consumer: Credit cards $ 177,288 $ 185,380 Other consumer 208,380 103,402 Total consumer 385,668 288,782 Real estate: Construction 279,740 181,968 Single family residential 696,180 455,563 Other commercial 1,229,072 714,797 Total real estate 2,204,992 1,352,328 Commercial: Commercial 500,116 291,820 Agricultural 148,563 115,658 Total commercial 648,679 407,478 Other 7,115 5,133 Loans 3,246,454 2,053,721 Loans acquired, not covered by FDIC loss share (net of discount and allowance) (1) 1,672,901 575,980 Loans acquired, covered by FDIC loss share (net of discount and allowance) (1) -- 106,933 Total loans $ 4,919,355 $ 2,736,634 (1) See Note 5, Loans Acquired, for segregation of loans acquired by loan class. In September 2015 the Company entered into an agreement with the FDIC to terminate all loss sharing agreements. Loan Origination/Risk Management Consumer Real estate Commercial Nonaccrual and Past Due Loans Nonaccrual loans, excluding loans acquired, at December 31, 2015 and 2014, segregated by class of loans, are as follows: (In thousands) 2015 2014 Consumer: Credit cards $ 212 $ 197 Other consumer 442 405 Total consumer 654 602 Real estate: Construction 4,955 4,863 Single family residential 5,453 4,010 Other commercial 4,420 1,522 Total real estate 14,828 10,395 Commercial: Commercial 1,968 585 Agricultural 264 456 Total commercial 2,232 1,041 Total $ 17,714 $ 12,038 An age analysis of past due loans, excluding loans acquired, segregated by class of loans, is as follows: (In thousands) Gross 90 Days Total Current Total 90 Days December 31, 2015 Consumer: Credit cards $ 639 $ 479 $ 1,118 $ 176,170 $ 177,288 $ 267 Other consumer 1,879 648 2,527 205,853 208,380 374 Total consumer 2,518 1,127 3,645 382,023 385,668 641 Real estate: Construction 1,328 4,511 5,839 273,901 279,740 -- Single family residential 4,856 3,342 8,198 687,982 696,180 364 Other commercial 869 3,302 4,171 1,224,901 1,229,072 25 Total real estate 7,053 11,155 18,208 2,186,784 2,204,992 389 Commercial: Commercial 3,427 637 4,064 496,052 500,116 90 Agricultural 285 243 528 148,035 148,563 56 Total commercial 3,712 880 4,592 644,087 648,679 146 Other 108 93 -- 7,115 7,115 15 Total $ 13,391 $ 13,255 $ 26,445 $ 3,220,009 $ 3,246,454 $ 1,191 December 31, 2014 Consumer: Credit cards $ 687 $ 457 $ 1,144 $ 184,236 $ 185,380 $ -- Other consumer 1,349 447 1,796 101,606 103,402 223 Total consumer 2,036 904 2,940 285,842 288,782 223 Real estate: Construction 760 570 1,330 180,638 181,968 177 Single family residential 4,913 2,213 7,126 448,437 455,563 248 Other commercial 1,987 847 2,834 711,963 714,797 -- Total real estate 7,660 3,630 11,290 1,341,038 1,352,328 425 Commercial: Commercial 381 354 735 291,085 291,820 -- Agricultural 119 109 228 115,430 115,658 40 Total commercial 500 463 963 406,515 407,478 40 Other -- -- -- 5,133 5,133 -- Total $ 10,196 $ 4,997 $ 15,193 $ 2,038,528 $ 2,053,721 $ 688 Impaired Loans Impairment is evaluated in total for smaller-balance loans of a similar nature and on an individual loan basis for other loans. Impaired loans, or portions thereof, are charged-off when deemed uncollectible. Impaired loans, net of government guarantees and excluding loans acquired, segregated by class of loans, are as follows: (In thousands) Unpaid Recorded Recorded Total Related Average Interest December 31, 2015 Consumer: Credit cards $ 479 $ 479 $ -- $ 479 $ 7 $ 411 $ 30 Other consumer 459 423 19 442 85 562 40 Total consumer 938 902 19 921 92 973 70 Real estate: Construction 5,678 1,636 3,318 4,954 441 5,417 390 Single family residential 5,938 4,702 945 5,647 1,034 5,148 370 Other commercial 5,688 4,328 88 4,416 832 3,147 227 Total real estate 17,304 10,666 4,351 15,017 2,307 13,712 987 Commercial: Commercial 2,656 1,654 334 1,988 387 1,736 125 Agricultural 264 264 -- 264 45 254 18 Total commercial 2,920 1,918 334 2,252 432 1,990 143 Total $ 21,162 $ 13,486 $ 4,704 $ 18,190 $ 2,831 $ 16,675 $ 1,200 December 31, 2014 Consumer: Credit cards $ 197 $ 197 $ -- $ 197 $ 6 $ 425 $ 20 Other consumer 604 610 9 619 118 780 34 Total consumer 801 807 9 816 124 1,205 54 Real estate: Construction 7,400 7,020 -- 7,020 599 4,334 189 Single family residential 4,442 3,948 377 4,325 899 4,291 187 Other commercial 1,955 1,446 36 1,482 268 6,788 296 Total real estate 13,797 12,414 413 12,827 1,766 15,413 672 Commercial: Commercial 1,227 566 -- 566 102 630 27 Agricultural 501 460 -- 460 83 234 10 Total commercial 1,728 1,026 -- 1,026 185 864 38 Total $ 16,236 $ 14,247 $ 422 $ 14,669 $ 2,075 $ 17,482 $ 764 At December 31, 2015, and December 31, 2014, impaired loans, net of government guarantees and excluding loans acquired, totaled $18.2 million and $14.7 million, respectively. Allocations of the allowance for loan losses relative to impaired loans were $2.8 million and $2.1 million at December 31, 2015 and 2014, respectively. Approximately $1.2 million, $0.8 million and $0.9 million of interest income was recognized on average impaired loans of $16.7 million, $17.5 million and $21.6 million for 2015, 2014 and 2013, respectively. Interest recognized on impaired loans on a cash basis during 2015, 2014 and 2013 was not material. Included in certain impaired loan categories are troubled debt restructurings (“TDRs”). When the Company restructures a loan to a borrower that is experiencing financial difficulty and grants a concession that it would not otherwise consider, a “troubled debt restructuring” results and the Company classifies the loan as a TDR. The Company grants various types of concessions, primarily interest rate reduction and/or payment modifications or extensions, with an occasional forgiveness of principal. Under ASC Topic 310-10-35 – Subsequent Measurement Once an obligation has been restructured because of such credit problems, it continues to be considered a TDR until paid in full; or, if an obligation yields a market interest rate and no longer has any concession regarding payment amount or amortization, then it is not considered a TDR at the beginning of the calendar year after the year in which the improvement takes place. The Company returns TDRs to accrual status only if (1) all contractual amounts due can reasonably be expected to be repaid within a prudent period, and (2) repayment has been in accordance with the contract for a sustained period, typically at least six months. The following table presents a summary of troubled debt restructurings, excluding loans acquired, segregated by class of loans. Accruing TDR Loans Nonaccrual TDR Loans Total TDR Loans (Dollars in thousands) Number Balance Number Balance Number Balance December 31, 2015 Consumer: Other consumer -- $ -- 1 $ 13 1 13 Total consumer -- -- 1 13 1 13 Real estate: Construction -- -- 1 253 1 $ 253 Single-family residential 2 137 11 1,335 13 1,472 Other commercial 4 2,894 1 597 5 3,491 Total real estate 6 3,031 13 2,185 19 5,216 Commercial: Commercial -- -- 5 332 5 332 Total commercial -- -- 5 332 5 332 Total 6 $ 3,031 19 $ 2,530 25 $ 5,561 December 31, 2014 Real estate: Construction -- $ -- 1 $ 391 1 $ 391 Single-family residential 2 393 1 3 3 396 Other commercial 3 1,840 1 614 4 2,454 Total real estate 5 2,233 3 1,008 8 3,241 Total 5 $ 2,233 3 $ 1,008 8 $ 3,241 The following table presents loans that were restructured as TDRs during the years ended December 31, 2015 and 2014, excluding loans acquired, segregated by class of loans. Modification Type (Dollars in thousands) Number of Balance Prior Balance at Change in Change in Financial Impact Year Ended December 31, 2015 Consumer: Other consumer 1 $ 13 $ 13 $ 13 $ -- $ -- Total consumer 1 13 13 13 -- -- Real estate: Single-family residential 11 1,179 1,103 1,103 Other commercial 1 1,097 1,097 1,097 -- $ -- Total real estate 12 2,276 2,200 2,200 -- -- Commercial: Commercial 5 347 332 332 -- -- Total commercial 5 347 332 332 -- -- Total 18 $ 2,636 $ 2,545 $ 2,545 $ -- $ -- Year Ended December 31, 2014 Real estate: Other commercial 2 $ 1,427 $ 1,427 $ 396 $ 1,031 $ -- Total real estate 2 1,427 1,427 396 1,031 -- Commercial: Commercial 1 $ 598 $ -- $ -- $ -- $ -- Total commercial 1 598 -- -- -- -- Total 3 $ 2,025 $ 1,427 $ 396 $ 1,031 $ -- During year ended December 31, 2015, the Company modified eighteen loans with a total recorded investment of $2,636,000 prior to modification which were deemed troubled debt restructuring. The restructured loans were modified by various terms, including changing the maturity date, deferring amortized principal payments and requiring interest only payments for a period of 12 months. Based on the fair value of the collateral, a specific reserve of $113,000 was determined necessary for these loans. Also, there was no immediate financial impact from the restructuring of these loans, as it was not considered necessary to charge-off interest or principal on the date of restructure. During year ended December 31, 2014, the Company modified three loans with a total recorded investment of $2,025,000 prior to modification which were deemed troubled debt restructuring. The restructured loans were modified by various terms, including changing the maturity date and deferring amortized principal payments. Based on the fair value of the collateral, no specific reserve was determined necessary for these loans. Also, there was no immediate financial impact from the restructuring of these loans, as it was not considered necessary to charge-off interest or principal on the date of restructure. During the year ended December 31, 2014, one of the restructured loans with a prior balance of $598,000 was paid off. There were no loans for which a payment default occurred during the years ended December 31, 2015 and 2014, and that had been modified as a TDR within 12 months or less of the payment default, excluding loans acquired. We define a payment default as a payment received more than 90 days after its due date. In addition to the TDRs that occurred during the period provided in the preceding tables, the Company had TDRs with pre-modification loan balances of $167,000 and $4,757,000 at December 31, 2015 and 2014, respectively, for which other real estate owned (“OREO”) was received in full or partial satisfaction of the loans. The majority of such TDRs were in commercial real estate and residential real estate. At December 31, 2015, the Company had $1,064,000 of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At December 31, 2015, the Company had $5,916,000 of OREO secured by residential real estate properties. Credit Quality Indicators The Company utilizes a risk rating matrix to assign a risk rate to each of its commercial and real estate loans. Loans are rated on a scale of 1 to 8. A description of the general characteristics of the 8 risk ratings is as follows: · Risk Rate 1 – Pass (Excellent) · Risk Rate 2 – Pass (Good) · Risk Rate 3 – Pass (Acceptable – Average) · Risk Rate 4 – Pass (Monitor) · Risk Rate 5 – Special Mention · Risk Rate 6 – Substandard · Risk Rate 7 – Doubtful · Risk Rate 8 – Loss Loans acquired are evaluated using this internal grading system. Loans acquired are evaluated individually and include purchased credit impaired loans of $23.5 million and $22.3 million that are accounted for under ASC Topic 310-30 and are classified as substandard (Risk Rating 6) as of December 31, 2015 and 2014, respectively. Of the remaining loans acquired and accounted for under ASC Topic 310-20, $49.9 million and $16.6 million were classified (Risk Ratings 6, 7 and 8 – see classified loans discussion below) at December 31, 2015 and 2014, respectively. Loans acquired, covered by loss share agreements, had additional protection provided by the FDIC prior to the termination of the loss share agreements. During the 2014 quarterly impairment testing on the estimated cash flows of the credit impaired loans, the Company established that some of the loans covered by loss share from our FDIC-assisted transactions had experienced material projected credit deterioration. As a result, the Company established a $954,000 allowance for loan losses on covered loans by recording a provision for loan losses of $0.4 million (net of FDIC-loss share adjustments) during the period ended December 31, 2014. There was no further projected credit deterioration and no addition to the allowance for covered loans in 2015. The $954,000 allowance was reclassified to allowance on acquired non-covered loans subsequent to the agreement with the FDIC to terminate the loss share agreements. See Note 5, Loans Acquired, for further discussion of the acquired loans, loan pools and loss sharing agreements. Purchased credit impaired loans are loans that showed evidence of deterioration of credit quality since origination and for which it is probable, at acquisition, that the Company will be unable to collect all amounts contractually owed. Their fair value was initially based on the estimate of cash flows, both principal and interest, expected to be collected or estimated collateral values if cash flows are not estimable, discounted at prevailing market rates of interest. The difference between the undiscounted cash flows expected at acquisition and the fair value at acquisition is recognized as interest income on a level-yield method over the life of the loan. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at acquisition are not recognized as a yield adjustment. Increases in expected cash flows subsequent to the initial investment are recognized prospectively through adjustment of the yield on the loan over its remaining life. Decreases in expected cash flows are recognized as impairment. Classified loans for the Company include loans in Risk Ratings 6, 7 and 8. Loans may be classified, but not considered impaired, due to one of the following reasons: (1) The Company has established minimum dollar amount thresholds for loan impairment testing. Loans rated 6 – 8 that fall under the threshold amount are not tested for impairment and therefore are not included in impaired loans. (2) Of the loans that are above the threshold amount and tested for impairment, after testing, some are considered to not be impaired and are not included in impaired loans. Total classified loans, excluding loans accounted for under ASC Topic 310-30, were $153.7 million and $82.1 million as of December 31, 2015 and December 31, 2014, respectively. The following table presents a summary of loans by credit risk rating, segregated by class of loans. Loans accounted for under ASC Topic 310-30 are all included in Risk Rate 1-4 in this table. (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total December 31, 2015 Consumer: Credit cards $ 176,809 $ -- $ 479 $ -- $ -- $ 177,288 Other consumer 207,069 -- 1,262 49 -- 208,380 Total consumer 383,878 -- 1,741 49 -- 385,668 Real estate: Construction 270,386 319 9,019 16 -- 279,740 Single family residential 679,484 2,701 13,824 171 -- 696,180 Other commercial 1,178,817 5,404 44,261 590 -- 1,229,072 Total real estate 2,128,687 8,424 67,104 777 -- 2,204,992 Commercial: Commercial 487,563 2,760 9,787 6 -- 500,116 Agricultural 147,788 -- 775 -- -- 148,563 Total commercial 635,351 2,760 10,562 6 -- 648,679 Other 7,022 -- 93 -- -- 7,115 Loans acquired, not covered by FDIC loss share 1,590,384 9,150 69,219 3,689 459 1,672,901 Total $ 4,745,322 $ 20,334 $ 148,719 $ 4,521 $ 459 $ 4,919,355 (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total December 31, 2014 Consumer: Credit cards $ 184,923 $ -- $ 457 $ -- $ -- $ 185,380 Other consumer 102,515 5 839 43 -- 103,402 Total consumer 287,438 5 1,296 43 -- 288,782 Real estate: Construction 176,825 84 5,059 -- -- 181,968 Single family residential 446,040 1,776 7,665 82 -- 455,563 Other commercial 698,329 7,074 9,394 -- -- 714,797 Total real estate 1,321,194 8,934 22,118 82 -- 1,352,328 Commercial: Commercial 271,017 1,544 19,248 11 -- 291,820 Agricultural 115,106 20 532 -- -- 115,658 Total commercial 386,123 1,564 19,780 11 -- 407,478 Other 5,133 -- -- -- -- 5,133 Loans acquired, not covered by FDIC loss share 535,728 1,435 36,958 1,854 5 575,980 Loans acquired, covered by FDIC loss share 106,933 -- -- -- -- 106,933 Total $ 2,642,549 $ 11,938 $ 80,152 $ 1,990 $ 5 $ 2,736,634 Net (charge-offs)/recoveries for the years ended December 31, 2015 and 2014, excluding loans acquired, segregated by class of loans, were as follows: (In thousands) 2015 2014 Consumer: Credit cards $ (2,217 ) $ (2,292 ) Student loans -- (38 ) Other consumer (1,134 ) (1,130 ) Total consumer (3,351 ) (3,460 ) Real estate: Construction (44 ) (356 ) Single family residential (407 ) (595 ) Other commercial (926 ) (167 ) Total real estate (1,377 ) (1,118 ) Commercial: Commercial (1,202 ) (704 ) Agricultural (33 ) (14 ) Total commercial (1,235 ) (718 ) Total $ (5,963 ) $ (5,296 ) Allowance for Loan Losses Allowance for Loan Losses Receivables Loss Contingencies As mentioned above, allocations to the allowance for loan losses are categorized as either specific allocations or general allocations. A loan is considered impaired when it is probable that the Company will not receive all amounts due according to the contractual terms of the loan, including scheduled principal and interest payments. For a collateral dependent loan, the Company’s evaluation process includes a valuation by appraisal or other collateral analysis. This valuation is compared to the remaining outstanding principal balance of the loan. If a loss is determined to be probable, the loss is included in the allowance for loan losses as a specific allocation. If the loan is not collateral dependent, the measurement of loss is based on the difference between the expected and contractual future cash flows of the loan. The general allocation is calculated monthly based on management’s assessment of several factors such as (1) historical loss experience based on volumes and types, (2) volume and trends in delinquencies and nonaccruals, (3) lending policies and procedures including those for loan losses, collections and recoveries, (4) national, state and local economic trends and conditions, (5) concentrations of credit within the loan portfolio, (6) the experience, ability and depth of lending management and staff and (7) other factors and trends that will affect specific loans and categories of loans. The Company establishes general allocations for each major loan category. This category also includes allocations to loans which are collectively evaluated for loss such as credit cards, one-to-four family owner occupied residential real estate loans and other consumer loans. The following table details activity in the allowance for loan losses, excluding loans acquired, by portfolio segment for the year ended December 31, 2015. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. (In thousands) Commercial Real Credit Other Total December 31, 2015 (1) Balance, beginning of year $ 6,962 $ 15,161 $ 5,445 $ 1,460 $ 29,028 Provision for loan losses (1) 258 5,738 665 1,625 8,286 Charge-offs (1,415 ) (1,580 ) (3,107 ) (1,672 ) (7,774 ) Recoveries 180 203 890 538 1,811 Net charge-offs (1,235 ) (1,377 ) (2,217 ) (1,134 ) (5,963 ) Balance, end of year (1) $ 5,985 $ 19,522 $ 3,893 $ 1,951 $ 31,351 Period-end amount allocated to: Loans individually evaluated for impairment $ 432 $ 2,307 $ 7 $ 85 $ 2,831 Loans collectively evaluated for impairment 5,553 17,215 3,886 1,866 28,520 Balance, end of year (1) $ 5,985 $ 19,522 $ 3,893 $ 1,951 $ 31,351 December 31, 2014 (2) Balance, beginning of year $ 3,205 $ 16,885 $ 5,430 $ 1,922 $ 27,442 Provision for loan losses (1) 4,475 (606 ) 2,307 706 6,882 Charge-offs (1,044 ) (2,684 ) (3,188 ) (1,638 ) (8,554 ) Recoveries 326 1,566 896 470 3,258 Net charge-offs (718 ) (1,118 ) (2,292 ) (1,168 ) (5,296 ) Balance, end of year (2) $ 6,962 $ 15,161 $ 5,445 $ 1,460 $ 29,028 Period-end amount allocated to: Loans individually evaluated for impairment $ 185 $ 1,766 $ 6 $ 118 $ 2,075 Loans collectively evaluated for impairment 6,777 13,405 5,439 1,342 26,963 Balance, end of year (2) $ 6,962 $ 15,161 $ 5,445 $ 1,460 $ 29,028 (1) Provision for loan losses of $736,000 attributable to loans acquired was excluded from this table for the year ended December 31, 2015 (total provision for loan losses for the year ended December 31, 2015 was $9,022,000). The $736,000 was subsequently charged-off, resulting in no increase to the ending balance in the allowance related to loans acquired. Provision for loan losses of $363,000 attributable to acquired loans, covered by FDIC loss share, was excluded from this table for the year ended December 31, 2014 (total provision for loan losses for the year ended December 31, 2014 is $7,245,000). (2) Allowance for loan losses at December 31, 2015 and 2014 includes $954,000 allowance for loans acquired (not shown in the table above). The total allowance for loan losses at December 31, 2015 and 2014 was $32,305,000 and $29,982,000, respectively. Activity in the allowance for loan losses, excluding allowance on loans acquired, for the year ended December 31, 2013 was as follows: (In thousands) Commercial Real Credit Other Total December 31, 2013 Balance, beginning of year $ 3,446 $ 15,453 $ 7,211 $ 1,772 $ 27,882 Provision for loan losses (51 ) 2,468 581 1,120 4,118 Charge-offs (382 ) (1,628 ) (3,263 ) (1,561 ) (6,834 ) Recoveries 192 592 901 591 2,276 Net charge-offs (190 ) (1,036 ) (2,362 ) (970 ) (4,558 ) Balance, end of year $ 3,205 $ 16,885 $ 5,430 $ 1,922 $ 27,442 The Company’s recorded investment in loans, excluding loans acquired, as of December 31, 2015 and 2014 related to each balance in the allowance for loan losses by portfolio segment on the basis of the Company’s impairment methodology is as follows: (In thousands) Commercial Real Credit Other Total December 31, 2015 Loans individually evaluated for impairment $ 2,252 $ 15,017 $ 479 $ 442 $ 18,190 Loans collectively evaluated for impairment 646,427 2,189,975 176,809 215,053 3,228,264 Balance, end of period $ 648,679 $ 2,204,992 $ 177,288 $ 215,495 $ 3,246,454 December 31, 2014 Loans individually evaluated for impairment $ 1,026 $ 12,827 $ 197 $ 619 $ 14,669 Loans collectively evaluated for impairment 406,452 1,339,501 185,183 107,916 2,039,052 Balance, end of period $ 407,478 $ 1,352,328 $ 185,380 $ 108,535 $ 2,053,721 |
Note 5 - Loans Acquired
Note 5 - Loans Acquired | 12 Months Ended |
Dec. 31, 2015 | |
Loans Acquired [Abstract] | |
Loans Acquired [Text Block] | NOTE 5: LOANS ACQUIRED On September 15, 2015, the Company entered into an agreement with the FDIC to terminate all loss share agreements which were entered into in 2010 and 2012 in conjunction with the Company’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of four failed banks in FDIC-assisted transactions. Under the early termination, all rights and obligations of the Company and the FDIC under the FDIC loss share agreements, including the clawback provisions and the settlement of loss share and expense reimbursement claims, have been resolved and terminated. Under the terms of the agreement, the FDIC made a net payment of $2,368,000 to the bank as consideration for the early termination of the loss share agreements. The early termination was recorded in the Company’s financial statements by removing the FDIC Indemnification Asset, receivable from FDIC, the FDIC True-up liability and recording a one-time, pre-tax charge of $7,476,000. As a result, the Company reclassified loans previously covered by FDIC loss share to loans acquired, not covered by FDIC loss share. Foreclosed assets previously covered by FDIC loss share were reclassified to foreclosed assets not covered by FDIC loss share. During the first quarter of 2015, the Company evaluated $769.9 million of net loans ($774.8 million gross loans less $4.9 million discount) purchased in conjunction with the acquisition of Liberty, described in Note 2, Acquisitions, in accordance with the provisions of ASC Topic 310-20, Nonrefundable Fees and Other Costs Loans and Debt Securities Acquired with Deteriorated Credit Quality Also during the first quarter of 2015, the Company evaluated $1.13 billion of net loans ($1.15 billion gross loans less $23.7 million discount) purchased in conjunction with the acquisition of Community First, described in Note 2, Acquisitions, in accordance with the provisions of ASC Topic 310-20. The fair value discount is being accreted into interest income over the weighted average life of the loans using a constant yield method. These loans are not considered to be impaired loans. The Company evaluated the remaining $7.0 million of net loans ($10.1 million gross loans less $3.1 million discount) purchased in conjunction with the acquisition of Community First for impairment in accordance with the provisions of ASC Topic 310-30. During the third quarter of 2014, the Company evaluated $308.2 million of net loans ($316.1 million gross loans less $7.9 million discount) purchased in conjunction with the acquisition of Delta Trust, described in Note 2, Acquisitions, in accordance with the provisions of ASC Topic 310-20, Nonrefundable Fees and Other Costs Loans and Debt Securities Acquired with Deteriorated Credit Quality During the fourth quarter of 2013, the Company evaluated $429.0 million of net loans ($442.0 million gross loans less $13.0 million discount) purchased in conjunction with the acquisition of Metropolitan, described in Note 2, Acquisitions, in accordance with the provisions of ASC Topic 310-20. The fair value discount is being accreted into interest income over the weighted average life of the loans using a constant yield method. These loans are not considered to be impaired loans. The Company evaluated the remaining $28.4 million of net loans ($52.8 million gross loans less $24.5 million discount) purchased in conjunction with the acquisition of Metropolitan for impairment in accordance with the provisions of ASC Topic 310-30. Purchased loans are considered impaired if there is evidence of credit deterioration since origination and if it is probable that not all contractually required payments will be collected. See Note 2, Acquisitions, for further discussion of loans acquired. The following table reflects the carrying value of all acquired loans as of December 31, 2015 and 2014: Loans Acquired (in thousands) 2015 2014 Consumer: Credit cards $ -- $ -- Other consumer 75,606 8,514 Total consumer 75,606 8,514 Real estate: Construction 77,119 46,911 Single family residential 501,002 175,970 Other commercial 854,068 390,877 Total real estate 1,432,189 613,758 Commercial: Commercial 154,533 56,134 Agricultural 10,573 4,507 Total commercial 165,106 60,641 Total loans acquired (1) $ 1,672,901 $ 682,913 (1) Loans acquired are reported net of a $954,000 allowance at December 31, 2015. Loans acquired include $106.9 million (net of a $954,000 allowance) of loans covered by FDIC loss share agreements at December 31, 2014. Nonaccrual acquired loans, excluding purchased credit impaired loans accounted for under ASC Topic 310-30, segregated by class of loans, are as follows (see Note 4, Loans an Allowance for Loan Losses, for discussion of nonaccrual loans): (In thousands) December 31, December 31, Consumer: Other consumer $ 71 $ 29 Total consumer 71 29 Real estate: Construction 783 105 Single family residential 7,795 2,018 Other commercial 6,435 271 Total real estate 15,013 2,394 Commercial: Commercial 3,859 291 Agricultural 8 3 Total commercial 3,867 294 Total $ 18,951 $ 2,717 An age analysis of past due acquired loans, excluding acquired covered loans for December 31, 2014, segregated by class of loans, is as follows (see Note 4, Loans an Allowance for Loan Losses, for discussion of past due loans): (In thousands) Gross 90 Days Total Current Total 90 Days December 31, 2015 Consumer: Other consumer $ 826 $ 122 $ 948 $ 74,658 $ 75,606 $ 57 Total consumer 826 122 948 74,658 75,606 57 Real estate: Construction 736 9,449 10,185 66,934 77,119 410 Single family residential 9,493 4,850 14,343 486,659 501,002 1,246 Other commercial 12,910 7,810 20,720 833,348 854,068 203 Total real estate 23,139 22,109 45,248 1,386,941 1,432,189 1,859 Commercial: Commercial 1,999 2,334 4,333 150,200 154,533 912 Agricultural 114 396 510 10,063 10,573 396 Total commercial 2,113 2,730 4,843 160,263 165,106 1,308 Total $ 26,078 $ 24,961 $ 51,039 $ 1,621,862 $ 1,672,901 $ 3,224 December 31, 2014 Consumer: Other consumer $ 70 $ 34 $ 104 $ 8,407 $ 8,511 $ 5 Total consumer 70 34 104 8,407 8,511 5 Real estate: Construction 292 105 397 36,450 36,847 -- Single family residential 3,804 2,906 6,710 138,383 145,093 594 Other commercial 1,415 5,994 7,409 326,759 334,168 -- Total real estate 5,511 9,005 14,516 501,592 516,108 594 Commercial: Commercial 110 421 531 46,730 47,261 -- Agricultural -- -- -- 4,100 4,100 -- Total commercial 110 421 531 50,830 51,361 -- Total $ 5,691 $ 9,460 $ 15,151 $ 560,829 $ 575,980 $ 599 The following table presents a summary of acquired loans, at December 31, 2015 and 2014, by credit risk rating, segregated by class of loans (see Note 4, Loans an Allowance for Loan Losses, for discussion of loan risk rating). Loans accounted for under ASC Topic 310-30 are all included in Risk Rate 1-4 in this table. (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total December 31, 2015 Consumer: Other consumer $ 75,330 $ -- $ 276 $ -- $ -- $ 75,606 Total consumer 75,330 -- 276 -- -- 75,606 Real estate: Construction 68,775 -- 8,344 -- -- 77,119 Single family residential 479,193 1,490 18,640 1,675 4 501,002 Other commercial 812,537 7,328 33,748 -- 455 854,068 Total real estate 1,360,505 8,818 60,732 1,675 459 1,432,189 Commercial: Commercial 144,239 332 7,948 2,014 -- 154,533 Agricultural 10,310 -- 263 -- -- 10,573 Total commercial 154,549 332 8,211 2,014 -- 165,106 Total $ 1,590,384 $ 9,150 $ 69,219 $ 3,689 $ 459 $ 1,672,901 December 31, 2014 Consumer: Other consumer $ 8,479 $ -- $ 32 $ -- $ -- $ 8,511 Total consumer 8,479 -- 32 -- -- 8,511 Real estate: Construction 27,430 78 9,339 -- -- 36,847 Single family residential 135,240 683 7,311 1,854 5 145,093 Other commercial 317,965 605 15,598 -- -- 334,168 Total real estate 480,635 1,366 32,248 1,854 5 516,108 Commercial: Commercial 43,585 69 3,607 -- -- 47,261 Agricultural 3,030 - 1,070 -- -- 4,100 Total commercial 46,615 69 4,677 -- -- 51,361 Total $ 535,729 $ 1,435 $ 36,957 $ 1,854 $ 5 $ 575,980 Loans acquired were individually evaluated and recorded at estimated fair value, including estimated credit losses, at the time of acquisition. These loans are systematically reviewed by the Company to determine the risk of losses that may exceed those identified at the time of the acquisition. Techniques used in determining risk of loss are similar to the Company’s legacy loan portfolio, with most focus being placed on those loans which include the larger loan relationships and those loans which exhibit higher risk characteristics. The following is a summary of the loans acquired in the Liberty acquisition on February 27, 2015, as of the date of acquisition. (in thousands) Not Impaired Impaired Contractually required principal and interest at acquisition $ 774,777 $ 15,716 Non-accretable difference (expected losses and foregone interest) -- (4,978 ) Cash flows expected to be collected at acquisition 774,777 10,738 Accretable yield (4,869 ) 12 Basis in acquired loans at acquisition $ 769,908 $ 10,750 The following is a summary of the loans acquired in the Community First acquisition on February 27, 2015, as of the date of acquisition. (in thousands) Not Impaired Impaired Contractually required principal and interest at acquisition $ 1,153,255 $ 10,143 Non-accretable difference (expected losses and foregone interest) -- (3,247 ) Cash flows expected to be collected at acquisition 1,153,255 6,896 Accretable yield (23,712 ) 104 Basis in acquired loans at acquisition $ 1,129,543 $ 7,000 The following is a summary of the non-covered loans acquired in the Delta acquisition on August 31, 2014, as of the date of acquisition. (in thousands) Not Impaired Impaired Contractually required principal and interest at acquisition $ 316,103 $ 10,726 Non-accretable difference (expected losses and foregone interest) -- (7,023 ) Cash flows expected to be collected at acquisition 316,103 3,703 Accretable yield (7,949 ) (177 ) Basis in acquired loans at acquisition $ 308,154 $ 3,526 The following is a summary of the non-covered loans acquired in the Metropolitan acquisition on November 25, 2013, as of the date of acquisition. (in thousands) Not Impaired Impaired Contractually required principal and interest at acquisition $ 442,009 $ 52,830 Non-accretable difference (expected losses and foregone interest) -- (21,962 ) Cash flows expected to be collected at acquisition 442,009 30,868 Accretable yield (12,989 ) (2,516 ) Basis in acquired loans at acquisition $ 429,020 $ 28,352 The amount of the estimated cash flows expected to be received from the purchased credit impaired loans in excess of the fair values recorded for the purchased credit impaired loans is referred to as the accretable yield. The accretable yield is recognized as interest income over the estimated lives of the loans. Each quarter, the Company estimates the cash flows expected to be collected from the acquired purchased credit impaired loans, and adjustments may or may not be required. This has resulted in increased interest income that is spread on a level-yield basis over the remaining expected lives of the loans. For those loans previously covered by FDIC loss share, the increases in expected cash flows also reduced the amount of expected reimbursements under the loss sharing agreements with the FDIC, which was recorded as indemnification assets. The estimated adjustments to the indemnification assets were amortized on a level-yield basis over the remainder of the loss-sharing agreements or the remaining expected lives of the loans, whichever was shorter. Because the Company’s loss share agreements with the FDIC have been terminated, there will be no further indemnification asset amortization in future quarters. The impact of the adjustments on the Company’s financial results for the years ended December 31, 2015 and 2014 is shown below: (In thousands) 2015 2014 Impact on net interest income $ 19,995 $ 26,400 Non-interest income (1) (7,719 ) (20,540 ) Net impact to pre-tax income 12,276 5,860 Net impact, net of taxes $ 7,461 $ 3,561 (1) Negative non-interest income resulted from the amortization of the FDIC indemnification assets. Because the Company’s loss share agreements with the FDIC have been terminated, there will be no further indemnification asset amortization. These adjustments will be recognized over the remaining lives of the loans for purchased credit impaired loans. The accretable yield adjustments recorded in future periods will change as the Company continues to evaluate expected cash flows from the purchased credit impaired loans. Changes in the carrying amount of the accretable yield for all purchased impaired loans were as follows for the years ended December 31, 2015, 2014 and 2013. (in thousands) Accretable Carrying Balance, January 1, 2013 $ 58,066 $ 293,606 Additions 2,516 28,352 Accretable yield adjustments 17,380 -- Accretion (36,577 ) 36,577 Payments and other reductions, net -- (123,750 ) Balance, December 31, 2013 41,385 234,785 Additions 177 3,526 Accretable yield adjustments 9,104 -- Accretion (30,031 ) 30,031 Payments and other reductions, net -- (99,244 ) Balance, December 31, 2014 20,635 169,098 Additions (116 ) 17,750 Accretable yield adjustments 6,593 -- Accretion (21,038 ) 21,038 Payments and other reductions, net (5,120 ) (184,417 ) Balance, December 31, 2015 $ 954 $ 23,469 Purchased impaired loans are evaluated on an individual borrower basis. Because some loans evaluated by the Company, previously covered by loss share agreements, were determined to have experienced impairment in the estimated credit quality or cash flows during 2014, the Company recorded a provision to establish a $954,000 allowance for loan losses for covered purchased impaired loans. During 2015, the Company recorded a provision totaling $736,000 to cover impairment in the estimated credit quality of acquired loans, not covered by loss share. Non-covered loans were subsequently charged-off and the allowance was used during 2015. Because of the termination of the loss share agreements, the allowance for previously covered loans was reclassified to allowance for acquired non-covered loans, resulting in a total allowance on acquired non-covered loans of $954,000 at December 31, 2015. The purchase and assumption agreements for the FDIC-assisted acquisitions allowed for the FDIC to recover a portion of the funds previously paid out under the indemnification agreement in the event losses failed to reach the expected loss level under a claw back provision (“true-up provision”). The amount of the true-up provision for each acquisition was measured and recorded at Day 1 fair values. It was calculated as the difference between management’s estimated losses on covered loans and covered foreclosed assets and the loss threshold contained in each loss share agreement, multiplied by the applicable clawback provisions contained in each loss share agreement, then discounted back to net present value. Under the terms of the loss share termination agreement, the FDIC made a net payment of $2.4 million to the bank as consideration for early termination. The early termination was recorded in the Company’s financial statements by removing the FDIC indemnification asset, receivable from FDIC, the FDIC true-up provision and recording a one-time, pre-tax charge of $7.5 million. The following table presents a summary of the changes in the FDIC true-up provision for years ended December 31, 2015, 2014 and 2013, which is included in other assets on the balance sheet. (in thousands) FDIC True-up Provision Balance, January 1, 2013 $ 4,854 Amortization expense 160 Adjustments related to changes in expected losses 1,754 Balance, December 31, 2013 6,768 Amortization expense 168 Adjustments related to changes in expected losses 1,372 Balance, December 31, 2014 8,308 Amortization expense 107 Adjustments related to changes in expected losses 720 Loss share termination agreement (9,135 ) Balance, December 31, 2015 $ -- |
Note 6 - Goodwill and Other Int
Note 6 - Goodwill and Other Intangible Assets | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 6: GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill is tested annually, or more often than annually, if circumstances warrant, for impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the financial statements. Goodwill totaled $327.7 million at December 31, 2015 and $108.1 million at December 31, 2014. The Company recorded $95.2 million, $110.4 million and $13.9 million of goodwill during 2015 as a result of its acquisitions of Liberty, Community First and Ozark Trust, respectively. The Company recorded $29.0 million of goodwill during 2014 as a result of its Delta Trust acquisition. Goodwill impairment was neither indicated nor recorded in 2015, 2014 or 2013. Core deposit premiums are amortized over a ten year period and are periodically evaluated, at least annually, as to the recoverability of their carrying value. Core deposit premiums of $11.3 million and $14.6 million were recorded in 2015 as part of the Community First and Liberty acquisitions, respectively. During the third quarter of 2015, the Company sold the Salina banking operations and as a result reduced the related core deposit premium by $382,000. Core deposit premiums of $4.3 million were recorded in 2014 as part of the Delta Trust acquisition. The Community First acquisition included an insurance line of business and the Company recorded an intangible asset of $420,000 during the first quarter of 2015. The Company recorded $9.7 million of intangible assets during the fourth quarter of 2015 related to the trust operations acquired in the Ozark Trust merger. The Delta Trust acquisition included some significant lines of business related to investments, trust and insurance. The Company recorded $5.1 million of intangible assets related to those acquired lines of business during the third quarter of 2014. These intangible assets are being amortized over various periods ranging from 10 to 15 years. The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) at December 31, 2015 and 2014 were as follows: (In thousands) 2015 2014 Goodwill $ 327,686 $ 108,095 Core deposit premiums: Gross carrying amount 43,648 18,318 Accumulated amortization (6,217 ) (2,386 ) Core deposit premiums, net 37,431 15,932 Purchased credit card relationships: Gross carrying amount 2,068 2,068 Accumulated amortization (931 ) (517 ) Purchased credit card relationships, net 1,137 1,551 Books of business intangible: Gross carrying amount 15,293 5,140 Accumulated amortization (624 ) (97 ) Books of business intangible, net 14,669 5,043 Other intangible assets, net 53,237 22,526 Total goodwill and other intangible assets $ 380,923 $ 130,621 Core deposit premium amortization expense recorded for the years ended December 31, 2015, 2014 and 2013 was $3.9 million, $1.4 million and $600,000, respectively. PCCR amortization expense recorded for the years ended December 31, 2015 and 2014 was $414,000 and $104,000 for the year ended December 31, 2013. Book of business amortization expense recorded for the year ended December 31, 2015 and 2014 was $528,000 and $151,000, respectively. There was no book of business amortization expense recorded for years ended December 31, 2013. The Company’s estimated remaining amortization expense on intangibles as of December 31, 2015 is as follows: (In thousands) Year Amortization 2016 $ 5,815 2017 5,815 2018 5,711 2019 5,401 2020 5,389 Thereafter 25,106 Total $ 53,237 |
Note 7 - Time Deposits
Note 7 - Time Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | NOTE 7: TIME DEPOSITS Time deposits included approximately $625,755,000 and $434,297,000 of certificates of deposit of $100,000 or more, at December 31, 2015 and 2014, respectively. Of this total approximately $186,352,000 and $106,603,000 of certificates of deposit were over $250,000 at December 31, 2015 and 2014, respectively. Brokered deposits were $1,455,000 and $7,427,000 at December 31, 2015 and 2014, respectively. Maturities of all time deposits are as follows: 2016 – $945,950,000; 2017 – $253,828,000; 2018 – $70,174,000; 2019 – $24,635,000; 2020 – $25,357,000 and $73,000 thereafter. Deposits are the Company's primary funding source for loans and investment securities. The mix and repricing alternatives can significantly affect the cost of this source of funds and, therefore, impact the interest margin. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 8: INCOME TAXES The provision (benefit) for income taxes for the years ended December 31 is comprised of the following components: (In thousands) 2015 2014 2013 Income taxes currently payable $ 19,301 $ 23,631 $ 13,923 Deferred income taxes 13,599 (9,029 ) (4,618 ) Provision for income taxes $ 32,900 $ 14,602 $ 9,305 The tax effects of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows as of December 31, 2015 and 2014: (In thousands) 2015 2014 Deferred tax assets: Loans acquired $ 14,716 $ 16,925 FDIC true-up liability -- 2,792 Allowance for loan losses 12,700 11,749 Valuation of foreclosed assets 11,212 14,167 Tax NOLs from acquisition 14,593 11,819 Deferred compensation payable 2,767 1,536 Vacation compensation 2,250 1,456 Accumulated depreciation -- 1,937 Accrued pension and profit sharing -- 1,793 Accrued equity and other compensation 5,197 3,356 Acquired securities 1,770 2,568 Other accrued liabilities 1,943 3,194 Unrealized loss on available-for-sale securities 1,655 862 Other 3,006 2,630 Gross deferred tax assets 71,809 76,784 Deferred tax liabilities: Goodwill and other intangible amortization (30,550 ) (16,953 ) FDIC acquired assets -- (4,377 ) Limitations under IRC Sec 382 (3,478 ) (11,169 ) Accumulated depreciation (3,914 ) -- Other (4,187 ) (3,537 ) Gross deferred tax liabilities (42,129 ) (36,036 ) Net deferred tax asset, included in other assets $ 29,680 $ 40,748 A reconciliation of income tax expense at the statutory rate to the Company's actual income tax expense is shown below for the years ended December 31: (In thousands) 2015 2014 2013 Computed at the statutory rate (35%) $ 37,543 $ 17,601 $ 11,387 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax benefit 2,097 41 825 Tax exempt interest income (4,708 ) (3,774 ) (2,739 ) Tax exempt earnings on BOLI (724 ) (499 ) (461 ) Section 382 adjustment (2,293 ) -- -- Other differences, net 985 1,233 293 Actual tax provision $ 32,900 $ 14,602 $ 9,305 The Company follows ASC Topic 740, Income Taxes The amount of unrecognized tax benefits may increase or decrease in the future for various reasons including adding amounts for current tax year positions, expiration of open income tax returns due to the statutes of limitation, changes in management’s judgment about the level of uncertainty, status of examinations, litigation and legislative activity and the addition or elimination of uncertain tax positions. Section 382 of the Internal Revenue Code imposes an annual limit on the ability of a corporation that undergoes an “ownership change” to use its U.S. net operating losses to reduce its tax liability. As discussed in Note 2, the Company closed a stock acquisition in a prior year that invoked the Section 382 annual limitation. Approximately $37.5 million of federal net operating losses subject to the IRC Sec 382 annual limitation are expected to be utilized by the company. The net operating loss carryforwards expire between 2028 and 2035. The Company files income tax returns in the U.S. federal jurisdiction. The Company’s U.S. federal income tax returns are open and subject to examinations from the 2012 tax year and forward. The Company’s various state income tax returns are generally open from the 2009 and later tax return years based on individual state statute of limitations. |
Note 9 - Securities Sold Under
Note 9 - Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE 9: SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE We utilize securities sold under agreements to repurchase to facilitate the needs of our customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. We monitor collateral levels on a continuous basis. We may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with our safekeeping agents. The gross amount of recognized liabilities for repurchase agreements was $96.8 million and $100.8 million at December 31, 2015 and 2014, respectively. The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of December 31, 2015 and 2014 is presented in the following tables. Remaining Contractual Maturity of the Agreements (In thousands) Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total December 31, 2015 Repurchase agreements: U.S. Government agencies $ 89,512 $ -- $ -- $ 7,326 $ 96,838 December 31, 2014 Repurchase agreements: U.S. Government agencies $ 93,454 $ -- $ -- $ 7,317 $ 100,771 |
Note 10 - Other Borrowings and
Note 10 - Other Borrowings and Subordinated Debentures | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | NOTE 10: OTHER BORROWINGS AND SUBORDINATED DEBENTURES Debt at December 31, 2015 and 2014 consisted of the following components. (In thousands) 2015 2014 Other Borrowings FHLB advances, net of discount, due 2016 to 2033, 0.35% to 7.37% secured by residential real estate loans $ 109,989 $ 71,582 Notes payable, due 10/15/2020, 3.85%, fixed rate, unsecured 52,300 43,100 Total other borrowings 162,289 114,682 Subordinated Debentures Trust preferred securities, due 12/30/2033, floating rate of 2.80% above the three month LIBOR rate, reset quarterly, callable without penalty 20,620 20,620 Trust preferred securities, net of discount, due 6/30/2035, floating rate of 1.75% above the three month LIBOR rate, reset quarterly, callable without penalty 9,723 -- Trust preferred securities, net of discount, due 9/15/2037, floating rate of 1.37% above the three month LIBOR rate, reset quarterly 9,975 -- Trust preferred securities, net of discount, due 12/3/2033, floating rate of 2.88% above the three month LIBOR rate, reset quarterly, callable without penalty 5,167 -- Trust preferred securities, net of discount, due 12/13/2034, floating rate of 2.00% above the three month LIBOR rate, reset quarterly, callable without penalty 5,063 -- Trust preferred securities, net of discount, due 6/6/2037, floating rate of 1.57% above the three month LIBOR rate, reset quarterly, callable without penalty 10,022 -- Total subordinated debentures 60,570 20,620 Total other borrowings and subordinated debentures $ 222,859 $ 135,302 During October 2015, the Company borrowed $52.3 million from correspondent banks at a rate of 3.85% with quarterly principal and interest payments. The debt has a 10 year amortization with a 5 year balloon payment due in October 2020. The Company used approximately $36 million of this borrowing to refinance the debt issued during 2013 that was used to partially fund the acquisition of Metropolitan. At December 31, 2015, the Company had $40.0 million of Federal Home Loan Bank (“FHLB”) advances with original maturities of one year or less. During 2015 the Company early extinguished FHLB advances with principal balances of $22 million. The consideration paid for the early extinguishment was $23.2 million representing the net settlement of the advance balances and prepayment penalties of $1.3 million. These penalties were partially offset by the remaining acquisition market adjustment balances on these borrowings. The resulting net loss of $782,000 was recorded in interest expense. The Company had total FHLB advances of $109.9 million at December 31, 2015, with approximately $965 million of additional advances available from the FHLB. The FHLB advances are secured by mortgage loans and investment securities totaling approximately $1.1 billion at December 31, 2015. The trust preferred securities are tax-advantaged issues that qualify for Tier 1 capital treatment. Distributions on these securities are included in interest expense on long-term debt. Each of the trusts is a statutory business trust organized for the sole purpose of issuing trust securities and investing the proceeds thereof in junior subordinated debentures of the Company, the sole asset of each trust. The preferred securities of each trust represent preferred beneficial interests in the assets of the respective trusts and are subject to mandatory redemption upon payment of the junior subordinated debentures held by the trust. The common securities of each trust are wholly-owned by the Company. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon the Company making payment on the related junior subordinated debentures. The Company’s obligations under the junior subordinated securities and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by the Company of each respective trust’s obligations under the trust securities issued by each respective trust. Aggregate annual maturities of long-term debt at December 31, 2015 are as follows: (In thousands) Year Annual 2016 $ 65,926 2017 14,798 2018 26,016 2019 7,645 2020 36,381 Thereafter 72,093 Total $ 222,859 |
Note 11 - Capital Stock
Note 11 - Capital Stock | 12 Months Ended |
Dec. 31, 2015 | |
Capital Stock Disclosure [Abstract] | |
Capital Stock Disclosure [Text Block] | NOTE 11: CAPITAL STOCK On February 27, 2009, at a special meeting, the Company’s shareholders approved an amendment to the Articles of Incorporation to establish 40,040,000 authorized shares of preferred stock, $0.01 par value. The aggregate liquidation preference of all shares of preferred stock cannot exceed $80,000,000. On February 27, 2015, as part of the acquisition of Community First, the Company issued 30,852 shares of Senior Non-Cumulative Perpetual Preferred Stock, Series A (“Simmons Series A Preferred Stock”) in exchange for the outstanding shares of Community First Senior Non-Cumulative Perpetual Preferred Stock, Series C (“Community First Series C Preferred Stock”). The preferred stock is held by the United States Department of the Treasury (“Treasury”) as the Community First Series C Preferred Stock was issued when Community First entered into a Small Business Lending Fund Securities Purchase Agreement with the Treasury. The Simmons Series A Preferred Stock qualifies as Tier 1 capital and will pay quarterly dividends. The rate will remain fixed at 1% through February 18, 2016, at which time it will convert to a fixed rate of 9%. On January 29, 2016, the Company redeemed all of the preferred stock, including accrued and unpaid dividends. On July 23, 2012, the Company approved a stock repurchase program which authorized the repurchase of up to 850,000 shares of Class A common stock, or approximately 5% of the shares outstanding. The shares are to be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions. Under the repurchase program, there is no time limit for the stock repurchases, nor is there a minimum number of shares that the Company intends to repurchase. The Company may discontinue purchases at any time that management determines additional purchases are not warranted. The Company intends to use the repurchased shares to satisfy stock option exercises, payment of future stock awards and dividends and general corporate purposes. During 2013, the Company repurchased 419,564 shares of stock with a weighted average repurchase price of $25.89 per share. Under the current stock repurchase plan, the Company can repurchase an additional 154,136 shares. As a result of its announced acquisition of Metropolitan, the Company suspended its stock repurchases in August of 2013. See Note 2, Acquisitions, for additional information on the Metropolitan acquisition. On March 4, 2014 the Company filed a shelf registration statement with the Securities and Exchange Commission (“SEC”). Subsequently, on June 18, 2014 the Company filed Amendment No. 1 to the shelf registration statement. After becoming effective, the shelf registration statement allows the Company to raise capital from time to time, up to an aggregate of $300 million, through the sale of common stock, preferred stock, stock warrants, stock rights or a combination thereof, subject to market conditions. Specific terms and prices are determined at the time of any offering under a separate prospectus supplement that the Company is required to file with the SEC at the time of the specific offering. |
Note 12 - Transactions With Rel
Note 12 - Transactions With Related Parties | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 12: TRANSACTIONS WITH RELATED PARTIES At December 31, 2015 and 2014, the subsidiary bank had extensions of credit to executive officers and directors and to companies in which the subsidiary bank’s executive officers or directors were principal owners in the amount of $58.4 million in 2015 and $25.1 million in 2014. (In thousands) 2015 2014 Balance, beginning of year $ 25,142 $ 42,018 New extensions of credit 48,529 5,554 Repayments (15,267 ) (22,430 ) Balance, end of year $ 58,404 $ 25,142 In management's opinion, such loans and other extensions of credit and deposits (which were not material) were made in the ordinary course of business and were made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons. Further, in management's opinion, these extensions of credit did not involve more than the normal risk of collectability or present other unfavorable features. |
Note 13 - Employee Benefit Plan
Note 13 - Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 13: EMPLOYEE BENEFIT PLANS Retirement Plans The Company’s 401(k) retirement plan covers substantially all employees. Contribution expense totaled $1,048,000, $837,000 and $690,000, in 2015, 2014 and 2013, respectively. The Company has a discretionary profit sharing and employee stock ownership plan covering substantially all employees. Contribution expense totaled $5,230,000 for 2015, $3,659,000 for 2014 and $3,076,000 for 2013. The Company also provides deferred compensation agreements with certain active and retired officers. The agreements provide monthly payments of retirement compensation for either stated periods or for the life of the participant. The charges to income for the plans were $804,000 for 2015, $453,000 for 2014 and $473,000 for 2013. Such charges reflect the straight-line accrual over the employment period of the present value of benefits due each participant, as of their full eligibility date, using an appropriate discount factor. Employee Stock Purchase Plan The Company established an Employee Stock Purchase Plan in 2011 which generally allows participants to make contributions of up 3% of the employee’s salary, up to a maximum of $7,500 per year, for the purpose of acquiring the Company’s stock. Substantially all employees with at least two years of service are eligible for the plan. At the end of each plan year, full shares of the Company’s stock are purchased for each employee based on that employee’s contributions. The stock is purchased for an amount equal to 95% of its fair market value at the end of the plan year, or, if lower, 95% of its fair market value at the beginning of the plan year. The Company established a Special Employee Stock Purchase Plan in 2015 which generally allows participants to make contributions up to cumulative sum in all plans of $25,000 per calendar year, for the purpose of acquiring the Company’s stock. Substantially all non-highly compensated employees with at least two years of service are eligible for the plan. At the end of each plan year, full shares of the Company’s stock are purchased for each employee based on that employee’s contributions. The stock is purchased for an amount equal to 85% of its fair market value at the end of the plan year, or, if lower, 85% of its fair market value at the beginning of the plan year. Stock-Based Compensation Plans The Company’s Board of Directors has adopted various stock-based compensation plans. The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, and bonus stock awards. Pursuant to the plans, shares are reserved for future issuance by the Company upon exercise of stock options or awarding of bonus shares granted to directors, officers and other key employees. Stock-based compensation expense for all stock-based compensation awards granted after January 1, 2006, is based on the grant date fair value. For all awards except stock option awards, the grant date fair value is the market value per share as of the grant date. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options granted but are not considered by the model. Accordingly, while management believes that the Black-Scholes option-pricing model provides a reasonable estimate of fair value, the model does not necessarily provide the best single measure of fair value for the Company's employee stock options. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that uses various assumptions. Expected volatility is based on historical volatility of the Company’s stock and other factors. The Company uses historical data to estimate option exercise and employee termination within the valuation model. The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Forfeitures are estimated at the time of grant, and are based partially on historical experience. The table below summarizes the transactions under the Company's active stock compensation plans at December 31, 2015, 2014 and 2013, and changes during the years then ended: Stock Options Non-Vested Stock Number Weighted Number Weighted Balance, December 31, 2012 218 $ 26.77 134 $ 25.89 Granted -- -- 75 26.89 Stock Options Exercised (24 ) 24.88 -- -- Stock Awards Vested -- -- (63 ) 26.82 Forfeited/Expired (9 ) 26.16 (1 ) 26.54 Balance, December 31, 2013 185 27.04 145 26.00 Granted -- -- 134 37.51 Stock Options Exercised (65 ) 25.86 -- -- Stock Awards Vested -- -- (51 ) 30.62 Forfeited/Expired -- -- (1 ) 26.54 Balance, December 31, 2014 120 27.72 227 31.88 Granted 375 44.69 95 43.45 Stock Options Exercised (71 ) 22.57 -- -- Stock Options from Acquisitions 66 20.43 -- -- Stock Awards Vested -- -- (131 ) 34.77 Forfeited/Expired (5 ) 24.49 (8 ) 35.36 Balance, December 31, 2015 485 $ 40.59 183 $ 35.65 Exercisable, December 31, 2015 238 $ 36.90 The following table summarizes information about stock options under the plans outstanding at December 31, 2015: Options Outstanding Options Exercisable Range of Exercise Prices Number Weighted Weighted Number Weighted $15.55 - $21.29 24 4.86 $ 19.41 13 $ 18.53 21.51 - 21.51 2 4.05 21.51 2 21.51 26.19 - 26.19 25 0.38 26.19 25 26.19 28.42 - 28.42 27 1.36 28.42 27 28.42 30.31 - 30.31 30 2.27 30.31 30 30.31 40.57 - 40.57 49 7.63 40.57 49 40.57 40.72 - 40.72 2 8.88 40.72 -- 40.72 44.40 - 44.40 65 7.55 44.40 14 44.40 45.50 - 45.50 258 9.05 45.50 77 45.50 48.13 - 48.13 3 9.71 48.13 1 48.13 $15.55 - $48.13 485 7.19 $ 40.59 238 $ 36.90 Stock-based compensation expense was $4,018,000 in 2015, $1,366,000 in 2014 and $1,417,000 in 2013. Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards. There was $1,442,000 of unrecognized stock-based compensation expense related to stock options at December 31, 2015. Unrecognized stock-based compensation expense related to non-vested stock awards was $5.3 million at December 31, 2015. At such date, the weighted-average period over which this unrecognized expense is expected to be recognized was 3.3 years. The intrinsic value of stock options outstanding and stock options exercisable at December 31, 2015 was $5,219,000 and $3,448,000. Aggregate intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $51.36 at December 31, 2015, and the exercise price multiplied by the number of options outstanding. There were 71,368 stock options exercised in 2015, with an intrinsic value of $2,054,000. There were 64,720 stock options exercised in 2014, with an intrinsic value of $957,000. There were 24,290 stock options exercised in 2013, with an intrinsic value of $298,000. The fair value of the Company’s employee stock options granted is estimated on the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. The weighted-average fair value of stock options granted during the year ended December 31, 2015 was $7.81 per share. There were no stock options granted during the years ended December 31, 2014 or 2013. The Company estimated expected market price volatility and expected term of the options based on historical data and other factors. The weighted-average assumptions used to determine the fair value of options granted are detailed in the table below: Year Ended December 31, 2015 Expected dividend yield 2.06 % Expected stock price volatility 16.96 % Risk-free interest rate 2.17 % Expected life of options (years) 10 |
Note 14 - Additional Cash Flow
Note 14 - Additional Cash Flow Information | 12 Months Ended |
Dec. 31, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 14: ADDITIONAL CASH FLOW INFORMATION The following table presents additional information on cash payments and non-cash items: (In thousands) 2015 2014 2013 Interest paid $ 21,700 $ 14,274 $ 11,908 Income taxes paid 20,127 18,832 14,867 Transfers of loans not covered by FDIC loss share to foreclosed assets held for sale 16,456 5,145 7,358 Transfers of loans acquired covered by FDIC loss share to foreclosed assets covered by FDIC loss share 4,349 5,536 9,239 Transfers of foreclosed assets covered by FDIC loss share to foreclosed assets held for sale 13,895 -- -- Transfers of loans acquired covered by FDIC loss share to loans acquired not covered by FDIC loss share 88,922 -- -- Transfers of premises held for sale to foreclosed assets held for sale 6,126 -- -- In connection with the Community First, Liberty, Ozark Trust, Delta Trust and Metropolitan acquisitions, accounted for by using the purchase method, the Company acquired assets and assumed liabilities as follows: (In thousands) 2015 2014 2013 Assets acquired $ 2,995,359 $ 417,386 $ 919,340 Liabilities assumed 2,679,947 378,967 883,664 Purchase price 535,003 67,441 53,600 Goodwill $ 219,591 $ 29,022 $ 17,924 |
Note 15 - Other Operating Expen
Note 15 - Other Operating Expenses | 12 Months Ended |
Dec. 31, 2015 | |
Other Income and Expenses [Abstract] | |
Other Income and Other Expense Disclosure [Text Block] | NOTE 15: OTHER OPERATING EXPENSES Other operating expenses consist of the following: (In thousands) 2015 2014 2013 Professional services $ 9,583 $ 7,516 $ 4,473 Postage 4,219 3,383 2,531 Telephone 4,817 2,957 2,323 Credit card expense 9,157 8,699 6,869 Operating supplies 2,395 1,964 1,511 Amortization of intangibles 4,889 1,979 600 Branch right sizing expense 3,297 4,721 641 Other expense 26,338 17,803 13,934 Total $ 64,695 $ 49,022 $ 32,882 The Company had aggregate annual equipment rental expense of approximately $2.6 million in 2015, $1.9 million in 2014 and $1.7 million in 2013. During 2012, the Company transitioned from purchasing to leasing its ATMs, accounting for approximately $1,463,000 of the 2015 rental expense and $1,283,000 of the 2014 rental expense. The Company had aggregate annual occupancy rental expense of approximately $4,216,000 in 2015, $3,706,000 in 2014 and $2,385,000 in 2013. |
Note 16 - Disclosures About Fai
Note 16 - Disclosures About Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | NOTE 16: DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS ASC Topic 820, Fair Value Measurements ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance also establishes a fair value hierarchy that requires the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. Topic 820 describes three levels of inputs that may be used to measure fair value: · Level 1 Inputs · Level 2 Inputs · Level 3 Inputs 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. Following is a description of the inputs and valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Available-for-sale securities Assets held in trading accounts The following table sets forth the Company’s financial assets by level within the fair value hierarchy that were measured at fair value on a recurring basis as of December 31, 2015 and 2014. Fair Value Measurements (In thousands) Fair Value Quoted Prices in Significant Other Significant December 31, 2015 ASSETS Available-for-sale securities U.S. Treasury $ 3,994 $ 3,994 $ -- $ -- U.S. Government agencies 120,237 -- 120,237 -- Mortgage-backed securities 647,426 -- 647,426 -- States and political subdivisions 9,874 -- 9,874 -- Other securities 39,876 -- 39,876 -- Assets held in trading accounts 4,422 2,409 2,013 -- December 31, 2014 ASSETS Available-for-sale securities U.S. Treasury $ 3,992 3,992 $ -- $ U.S. Government agencies 272,816 -- 272,816 -- Mortgage-backed securities 1,572 -- 1,572 -- States and political subdivisions 6,540 -- 6,540 -- Other securities 20,363 -- 20,363 -- Assets held in trading accounts 6,987 3,320 3,667 -- Certain financial assets and liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial assets and liabilities measured at fair value on a nonrecurring basis include the following: Impaired loans (collateral dependent) Appraisals are updated at renewal, if not more frequently, for all collateral dependent loans that are deemed impaired by way of impairment testing. Impairment testing for selected loans rated Special Mention or worse begins at $500,000, with testing on all loans over $1.5 million rated Special Mention or worse. All collateral dependent impaired loans meeting these thresholds have had updated appraisals or internally prepared evaluations within the last one to two years and these updated valuations are considered in the quarterly review and discussion of the corporate Special Asset Committee. On targeted CRE loans, appraisals/internally prepared valuations may be updated before the typical 1-3 year balloon/maturity period. If an updated valuation results in decreased value, a specific (ASC 310) impairment is placed against the loan, or a partial charge-down is initiated, depending on the circumstances and anticipation of the loan’s ability to remain a going concern, possibility of foreclosure, certain market factors, etc. Foreclosed assets held for sale The significant unobservable inputs (Level 3) used in the fair value measurement of collateral for collateral-dependent impaired loans and foreclosed assets primarily relate to the specialized discounting criteria applied to the borrower’s reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the collateral, as well as other factors which may affect the collectability of the loan. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset. It is reasonably possible that a change in the estimated fair value for instruments measured using Level 3 inputs could occur in the future. As the Company’s primary objective in the event of default would be to liquidate the collateral to settle the outstanding balance of the loan, collateral that is less marketable would receive a larger discount. During the reported periods, collateral discounts ranged from 10% to 40% for commercial and residential real estate collateral. Mortgage loans held for sale The following table sets forth the Company’s financial assets by level within the fair value hierarchy that were measured at fair value on a nonrecurring basis as of December 31, 2015 and 2014. Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Significant Other Significant December 31, 2015 Impaired loans (1) (2) $ 19,027 $ -- $ -- $ 19,027 Foreclosed assets held for sale (1) 14,459 -- -- 14,459 December 31, 2014 Impaired loans (1) (2) $ 12,276 $ -- $ -- $ 12,276 Foreclosed assets held for sale (1) 3,417 -- -- 3,417 (1) These amounts represent the resulting carrying amounts on the Consolidated Balance Sheets for impaired collateral dependent loans and foreclosed assets held for sale for which fair value re-measurements took place during the period. (2) Specific allocations of $1,136,000 and $733,000 were related to the impaired collateral dependent loans for which fair value re-measurements took place during the period, as of December 31, 2015 and 2014, respectively. ASC Topic 825, Financial Instruments Cash and cash equivalents Interest bearing balances due from banks Held-to-maturity securities Loans Loans acquired FDIC indemnification asset Deposits Federal Funds purchased, securities sold under agreement to repurchase and short-term debt Other borrowings Subordinated debentures Accrued interest receivable/payable Commitments to extend credit, letters of credit and lines of credit The fair value of a financial instrument is the current amount that would be exchanged between willing parties, other than in a forced liquidation. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The estimated fair values, and related carrying amounts, of the Company’s financial instruments not previously disclosed are as follows: Carrying Fair Value Measurements (In thousands) Amount Level 1 Level 2 Level 3 Total December 31, 2015 Financial assets: Cash and cash equivalents $ 252,262 $ 252,262 $ -- $ -- $ 252,262 Interest bearing balances due from banks - time 14,107 -- 14,105 -- 14,105 Held-to-maturity securities 705,373 -- 713,371 -- 713,371 Mortgage loans held for sale 30,265 -- -- 30,265 30,265 Interest receivable 25,793 -- 25,793 -- 25,793 Legacy loans (net of allowance) 3,215,103 -- -- 3,204,153 3,204,153 Loans acquired (net of allowance) 1,672,901 -- -- 1,667,204 1,667,204 Financial liabilities: Non-interest bearing transaction accounts 1,280,234 -- 1,280,234 -- 1,280,234 Interest bearing transaction accounts and savings deposits 3,485,845 -- 3,485,845 -- 3,485,845 Time deposits 1,320,017 -- -- 1,315,254 1,315,254 Federal funds purchased and securities sold under agreements to repurchase 99,398 -- 99,398 -- 99,398 Other borrowings 162,289 -- 168,254 -- 168,254 Subordinated debentures 60,570 -- 55,954 -- 55,954 Interest payable 1,800 -- 1,800 -- 1,800 December 31, 2014 Financial assets Cash and cash equivalents $ 335,909 $ 335,909 $ -- $ -- $ 335,909 Held-to-maturity securities 777,587 -- 780,533 -- 780,533 Mortgage loans held for sale 21,265 -- -- 21,265 21,265 Interest receivable 16,774 -- 16,774 -- 16,774 Legacy loans (net of allowance) 2,024,693 -- -- 2,022,889 2,022,889 Loans acquired, not covered by FDIC loss share 575,980 -- -- 560,651 560,651 Loans acquired, covered by FDIC loss share (net of allowance) 106,933 -- -- 105,789 105,789 FDIC indemnification asset 22,663 -- -- 22,663 22,663 Financial liabilities: Non-interest bearing transaction accounts 889,260 -- 889,260 -- 889,260 Interest bearing transaction accounts and savings deposits 2,006,271 -- 2,006,271 -- 2,006,271 Time deposits 965,187 -- -- 967,900 967,900 Federal funds purchased and securities sold under agreements to repurchase 110,586 -- 110,586 -- 110,586 Other borrowings 114,682 -- 114,698 -- 114,698 Subordinated debentures 20,620 -- 16,115 -- 16,115 Interest payable 1,147 -- 1,147 -- 1,147 The fair value of commitments to extend credit, letters of credit and lines of credit is not presented since management believes the fair value to be insignificant. |
Note 17 - Commitments and Credi
Note 17 - Commitments and Credit Risk | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Commitments Disclosure [Text Block] | NOTE 17: COMMITMENTS AND CREDIT RISK The Company grants agri-business, credit card, commercial and residential loans to customers throughout Arkansas, Kansas, Missouri and Tennessee. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments may expire without being drawn upon, 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 deemed necessary, is based on management's credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. At December 31, 2015, the Company had outstanding commitments to extend credit aggregating approximately $497,961,000 and $805,673,000 for credit card commitments and other loan commitments, respectively. At December 31, 2014, the Company had outstanding commitments to extend credit aggregating approximately $480,653,000 and $439,053,000 for credit card commitments and other loan commitments, respectively. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The Company had total outstanding letters of credit amounting to $23,515,000 and $16,217,000 at December 31, 2015 and 2014, respectively, with terms ranging from 9 months to 15 years. At December 31, 2015, the Company had no deferred revenue under standby letter of credit agreements and approximately $13,000 at December 31, 2014. At December 31, 2015, the Company did not have concentrations of 5% or more of the investment portfolio in bonds issued by a single municipality. |
Note 18 - New Accounting Standa
Note 18 - New Accounting Standards | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | NOTE 18: NEW ACCOUNTING STANDARDS In January 2014, the FASB issued ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure (Topic 310-40): Receivables – Troubled Debt Restructurings by Creditors In June 2014, the FASB issued ASU 2014-11 – Transfers and Servicing – Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued ASU 2014-12 – Compensation – Stock Compensation – Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved After the Requisite Service Period In August 2014, the FASB issued ASU 2014-14 , Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure impacting FASB ASC 310-40, Receivables – Troubled Debt Restructuring by Creditors In November 2014, the FASB issued ASU 2014-17 – Business Combinations: Pushdown Accounting In May 2015, the FASB issued ASU 2015-08 – Business Combinations: Pushdown Accounting – Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 In August 2015, the FASB issued ASU 2015-14 – Revenue from Contracts with Customers: Deferral of the Effective Date Revenue from Contracts with Customers In September 2015, the FASB issued ASU 2015-16 – Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments In January 2016, the FASB issued ASU 2016-01 – Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities Presently, the Company is not aware of any other changes to the Accounting Standards Codification that will have a material impact on the Company’s present or future financial position or results of operations. |
Note 19 - Contingent Liabilitie
Note 19 - Contingent Liabilities | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 19: CONTINGENT LIABILITIES The Company and/or its subsidiaries have various unrelated legal proceedings, most of which involve loan foreclosure activity pending, which, in the aggregate, are not expected to have a material adverse effect on the financial position of the Company and its subsidiaries. |
Note 20 - Stockholders' Equity
Note 20 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 20: STOCKHOLDERS’ EQUITY The Company’s subsidiary bank is subject to a legal limitation on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. The approval of the Office of the Comptroller of the Currency is required if the total of all the dividends declared by a national bank in any calendar year exceeds the total of its net profits, as defined, for that year, combined with its retained net profits of the preceding two years. At December 31, 2015, the Company subsidiary bank had approximately $8.2 million in undivided profits available for payment of dividends to the Company without prior approval of the regulatory agencies. The Company’s subsidiary bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Furthermore, the Company’s regulators could require adjustments to regulatory capital not reflected in these financial statements. Effective January 1, 2015, the Company and the Bank became subject to new capital regulations (the “Basel III Capital Rules”) adopted by the Federal Reserve in July 2013 establishing a new comprehensive capital framework for U.S. Banks. The Basel III Capital Rules substantially revise the risk-based capital requirements applicable to bank holding companies and depository institutions compared to the previous U.S. risk-based capital rules. Full compliance with all of the final rule’s requirements will be phased in over a multi-year schedule. The final rules include a new common equity Tier 1 capital to risk-weighted assets (CET1) ratio of 4.5% and a common equity Tier 1 capital conservation buffer of 2.5% of risk-weighted assets. CET1 generally consists of common stock; retained earnings; accumulated other comprehensive income and certain minority interests; all subject to applicable regulatory adjustments and deductions. The new capital conservation buffer requirement is to be phased in beginning on January 1, 2016 when a buffer greater than 0.625% of risk-weighted assets will be required, which amount will increase each year until the buffer requirement is fully implemented on January 1, 2019. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1 and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes that, as of December 31, 2015, the Company meets all capital adequacy requirements to which it is subject. As of the most recent notification from regulatory agencies, the subsidiaries were well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Company and its subsidiary bank must maintain minimum total risk-based, Tier 1 risk-based, common equity Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the institutions’ categories. The Company’s and the subsidiary Bank’s actual capital amounts and ratios are presented in the following table. Actual Minimum To Be Well (In thousands) Amount Ratio (%) Amount Ratio-% Amount Ratio (%) As of December 31, 2015 Total Risk-Based Capital Ratio Simmons First National Corporation $ 843,227 16.7 $ 403,941 8.0 $ N/A Simmons First National Bank 734,170 14.6 402,285 8.0 502,856 10.0 Tier 1 Risk-Based Capital Ratio Simmons First National Corporation 808,159 16.0 303,060 6.0 N/A Simmons First National Bank 699,102 13.9 301,771 6.0 402,361 8.0 Common Equity Tier 1 Capital Ratio Simmons First National Corporation 716,737 14.2 227,135 4.5 N/A Simmons First National Bank 699,102 13.9 226,328 4.5 326,918 6.5 Tier 1 Leverage Ratio Simmons First National Corporation 808,159 11.2 288,628 4.0 N/A Simmons First National Bank 699,102 9.7 288,289 4.0 360,362 5.0 As of December 31, 2014 Total Risk-Based Capital Ratio Simmons First National Corporation $ 435,185 14.5 $ 240,102 8.0 $ N/A Simmons First National Bank 432,590 14.5 238,670 8.0 298,338 10.0 Tier 1 Risk-Based Capital Ratio Simmons First National Corporation 403,110 13.4 120,331 4.0 N/A Simmons First National Bank 405,834 13.6 119,363 4.0 179,044 6.0 Tier 1 Leverage Ratio Simmons First National Corporation 403,110 8.8 183,232 4.0 N/A Simmons First National Bank 405,834 8.9 182,397 4.0 227,997 5.0 |
Note 22 - Condensed Financial I
Note 22 - Condensed Financial Information (Parent Company Only) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 21: CONDENSED FINANCIAL INFORMATION (PARENT COMPANY ONLY) CONDENSED BALANCE SHEETS DECEMBER 31, 2015 and 2014 (In thousands) 2015 2014 ASSETS Cash and cash equivalents $ 119,383 $ 17,537 Investment securities 2,049 1,660 Investments in wholly-owned subsidiaries 1,051,842 522,841 Intangible assets, net 133 133 Premises and equipment 5,338 5,711 Other assets 28,245 14,301 TOTAL ASSETS $ 1,206,990 $ 562,183 LIABILITIES Long-term debt $ 112,870 $ 63,720 Other liabilities 17,265 4,144 Total liabilities 130,135 67,864 STOCKHOLDERS’ EQUITY Preferred stock 30,852 -- Common stock 303 181 Surplus 662,378 156,568 Undivided profits 385,987 338,906 Accumulated other comprehensive loss Unrealized depreciation on available-for-sale securities, net of income taxes of ($1,720) and ($862) at December 31, 2015 and 2014 respectively (2,665 ) (1,336 ) Total stockholders’ equity 1,076,855 494,319 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,206,990 $ 562,183 CONDENSED STATEMENTS OF INCOME YEARS ENDED DECEMBER 31, 2015, 2014 and 2013 (In thousands) 2015 2014 2013 INCOME Dividends from subsidiaries $ 84,128 $ 43,366 $ 23,051 Other income 2,303 6,927 8,409 Income 86,431 50,293 31,460 EXPENSE 24,594 23,024 17,839 Income before income taxes and equity in undistributed net income of subsidiaries 61,837 27,269 13,621 Provision for income taxes (8,251 ) (6,330 ) (3,510 ) Income before equity in undistributed net income of subsidiaries 70,088 33,599 17,131 Equity in undistributed net income of subsidiaries 4,276 2,089 6,100 NET INCOME 74,364 35,688 23,231 Preferred stock dividends 257 -- -- NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 74,107 $ 35,688 $ 23,231 CONDENSED STATEMENTS OF COMPREHENSIVE INCOME YEARS ENDED DECEMBER 31, 2015, 2014 and 2013 (In thousands) 2015 2014 2013 NET INCOME $ 74,364 $ 35,688 $ 23,231 OTHER COMPREHENSIVE INCOME Equity in other comprehensive (loss) income of subsidiaries (1,329 ) 1,666 (3,259 ) COMPREHENSIVE INCOME $ 73,035 $ 37,354 $ 19,972 CONDENSED STATEMENTS OF CASH FLOWS YEARS ENDED DECEMBER 31, 2015, 2014 and 2013 (In thousands) 2015 2014 2013 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 74,364 $ 35,688 $ 23,231 Items not requiring (providing) cash Stock-based compensation expense 4,018 1,423 1,417 Depreciation and amortization 317 139 145 Deferred income taxes 1,287 1,338 81 Equity in undistributed net income of bank subsidiaries (4,276 ) (2,089 ) (6,100 ) Changes in Other assets (15,232 ) (1,296 ) 19,978 Other liabilities 13,121 (1,103 ) 1,891 Net cash provided by operating activities 73,599 34,100 40,643 CASH FLOWS FROM INVESTING ACTIVITIES Net purchases of premises and equipment 56 (5,435 ) (174 ) Additional investment in subsidiary -- 288 (27,400 ) Purchases of available-for-sale securities (354 ) 1,504 (1 ) Cash received (paid) in business combinations 44,173 (1,640 ) (53,600 ) Net cash provided by (used in) investing activities 43,875 (5,283 ) (81,175 ) CASH FLOWS FROM FINANCING ACTIVITIES Issuance (repayment) of long-term debt 8,126 (2,900 ) 46,000 Issuance of common stock, net 3,529 2,023 936 Payment to repurchase common stock -- -- (10,848 ) Dividends paid on preferred stock (257 ) -- -- Dividends paid on common stock (27,026 ) (15,359 ) (13,707 ) Net cash used in financing activities (15,628 ) (16,236 ) 22,381 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 101,846 12,581 (18,151 ) CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 17,537 4,956 23,107 CASH AND CASH EQUIVALENTS, END OF YEAR $ 119,383 $ 17,537 $ 4,956 |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Nature of Operations and Principles of Consolidation Simmons First National Corporation (the “Company”) is primarily engaged in providing a full range of banking services to individual and corporate customers through its subsidiaries and their branch banks with offices in Arkansas, Kansas, Missouri and Tennessee. The Company is subject to competition from other financial institutions. The Company also is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. The consolidated financial statements include the accounts of Simmons First National Corporation and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. |
Segment Reporting, Policy [Policy Text Block] | Operating Segments The Company is organized on a regional basis upon which management makes decisions regarding how to allocate resources and assess performance. Each of the regions provides a group of similar community banking services, including such products and services as loans; time deposits, checking and savings accounts; personal and corporate trust services; credit cards; investment management; insurance; and securities and investment services. Loan products include consumer, real estate, commercial, agricultural, equipment and SBA lending. The individual bank regions have similar operating and economic characteristics and have been reported as one aggregated operating segment. The Company also considers its trust, investment and insurance services to be operating segments. Information on these segments is not reported separately since they do not meet the quantitative thresholds under ASC Topic 280-10-50-12. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and the valuation of covered loans and related indemnification asset. In connection with the determination of the allowance for loan losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. |
Reclassification, Policy [Policy Text Block] | Reclassifications Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. For purposes of the consolidated statements of cash flows, cash and cash equivalents are considered to include cash and non-interest bearing balances due from banks, interest bearing balances due from banks and federal funds sold and securities purchased under agreements to resell. |
Investment, Policy [Policy Text Block] | Investment Securities Held-to-maturity securities, which include any security for which the Company has the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts. Premiums and discounts are amortized and accreted, respectively, to interest income using the constant yield method over the period to maturity. Available-for-sale securities, which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Realized gains and losses, based on specifically identified amortized cost of the individual security, are included in other income. Unrealized gains and losses are recorded, net of related income tax effects, in stockholders' equity. Premiums and discounts are amortized and accreted, respectively, to interest income using the constant yield method over the period to maturity. Trading securities, which include any security held primarily for near-term sale, are carried at fair value. Gains and losses on trading securities are included in other income. The Company applies accounting guidance related to recognition and presentation of other-than-temporary impairment under ASC Topic 320-10. When the Company does not intend to sell a debt security, and it is more likely than not, the Company will not have to sell the security before recovery of its cost basis, it recognizes the credit component of an other-than-temporary impairment of a debt security in earnings and the remaining portion in other comprehensive income. For held-to-maturity debt securities, the amount of an other-than-temporary impairment recorded in other comprehensive income for the noncredit portion of a previous other-than-temporary impairment is amortized prospectively over the remaining life of the security on the basis of the timing of future estimated cash flows of the security. As a result of this guidance, the Company’s consolidated statements of income reflect the full impairment (that is, the difference between the security’s amortized cost basis and fair value) on debt securities that the Company intends to sell or would more likely than not be required to sell before the expected recovery of the amortized cost basis. For available-for-sale and held-to-maturity debt securities that management has no intent to sell and believes that it more likely than not will not be required to sell prior to recovery, only the credit loss component of the impairment is recognized in earnings, while the noncredit loss is recognized in accumulated other comprehensive income. The credit loss component recognized in earnings is identified as the amount of principal cash flows not expected to be received over the remaining term of the security as projected based on cash flow projections. |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Loans Held For Sale Mortgage loans held for sale are carried at the lower of cost or fair value, determined using an aggregate basis. Write-downs to fair value are recognized as a charge to earnings at the time the decline in value occurs. Forward commitments to sell mortgage loans are acquired to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. The forward commitments acquired by the Company for mortgage loans in process of origination are not mandatory forward commitments. These commitments are structured on a best efforts basis; therefore, the Company is not required to substitute another loan or to buy back the commitment if the original loan does not fund. Typically, the Company delivers the mortgage loans within a few days after the loans are funded. These commitments are derivative instruments and their fair values at December 31, 2015 and 2014 are not material. Gains and losses resulting from sales of mortgage loans are recognized when the respective loans are sold to investors. Gains and losses are determined by the difference between the selling price and the carrying amount of the loans sold, net of discounts collected or paid. Fees received from borrowers to guarantee the funding of mortgage loans held for sale are recognized as income or expense when the loans are sold or when it becomes evident that the commitment will not be used. |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-offs are reported at their outstanding principal adjusted for any loans charged off, the allowance for loan losses and any unamortized deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. The accrual of interest on loans, except on certain government guaranteed loans, is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. Discounts and premiums on purchased residential real estate loans are amortized to income using the interest method over the remaining period to contractual maturity, adjusted for anticipated prepayments. Discounts and premiums on purchased consumer loans are recognized over the expected lives of the loans using methods that approximate the interest method. For discussion of the Company’s accounting for acquired loans, see Acquisition Accounting, Covered Loans and Related Indemnification Asset later in this section. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses The allowance for loan losses is management’s estimate of probable losses in the loan portfolio. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Allocations to the allowance for loan losses are categorized as either general reserves or specific reserves. The general reserve is calculated monthly based on management’s assessment of several factors such as (1) historical loss experience based on volumes and types, (2) volume and trends in delinquencies and nonaccruals, (3) lending policies and procedures including those for loan losses, collections and recoveries, (4) national, state and local economic trends and conditions, (5) concentrations of credit within the loan portfolio, (6) the experience, ability and depth of lending management and staff and (7) other factors and trends that will affect specific loans and categories of loans. The Company establishes general allocations for each major loan category and risk rating. This category also includes allocations to loans which are collectively evaluated for loss such as credit cards, one-to-four family owner occupied residential real estate loans and other consumer loans. General reserves have been established, based upon the aforementioned factors and allocated to the individual loan categories. Specific reserves are provided on loans that are considered impaired when it is probable that we will not receive all amounts due according to the contractual terms of the loan, including scheduled principal and interest payments. This includes loans that are delinquent 90 days or more, nonaccrual loans and certain other loans identified by management. Certain other loans identified by management consist of performing loans where management expects that the Company will not receive all amounts due according to the contractual terms of the loan, including scheduled principal and interest payments. Specific reserves are accrued for probable losses on specific loans evaluated for impairment for which the basis of each loan, including accrued interest, exceeds the discounted amount of expected future collections of interest and principal or, alternatively, the fair value of loan collateral. Accrual of interest is discontinued and interest accrued and unpaid is removed at the time such amounts are delinquent 90 days unless management is aware of circumstances which warrant continuing the interest accrual. Interest is recognized for nonaccrual loans only upon receipt and only after all principal amounts are current according to the terms of the contract. Management’s evaluation of the allowance for loan losses is inherently subjective as it requires material estimates. The actual amounts of loan losses realized in the near term could differ from the amounts estimated in arriving at the allowance for loan losses reported in the financial statements. |
Commitments and Contingencies, Policy [Policy Text Block] | Reserve for Unfunded Commitments In addition to the allowance for loan losses, the Company has established a reserve for unfunded commitments, classified in other liabilities. This reserve is maintained at a level sufficient to absorb losses arising from unfunded loan commitments. The adequacy of the reserve for unfunded commitments is determined monthly based on methodology similar to the Company’s methodology for determining the allowance for loan losses. Net adjustments to the reserve for unfunded commitments are included in other non-interest expense. |
Business Combinations Policy [Policy Text Block] | Acquisition Accounting, Acquired Loans The Company accounts for its acquisitions under ASC Topic 805, Business Combinations The Company evaluates loans acquired in accordance with the provisions of ASC Topic 310-20, Nonrefundable Fees and Other Costs Loans and Debt Securities Acquired with Deteriorated Credit Quality For impaired loans accounted for under ASC Topic 310-30, the Company continues to estimate cash flows expected to be collected on these loans. The Company evaluates at each balance sheet date whether the present value of the loans determined using the effective interest rates has decreased significantly and if so, recognize a provision for loan loss in our consolidated statement of income. For any significant increases in cash flows expected to be collected, the Company adjusts the amount of accretable yield recognized on a prospective basis over the remaining life of the loan. |
Deteriorated Loans Transferred in, Policy [Policy Text Block] | Covered Loans and Related Indemnification Asset In September, we entered into an agreement with the FDIC to terminate all loss share agreements which were entered into in 2010 and 2012 in conjunction with the Company’s acquisition of substantially all of the assets (“covered assets”) and assumption of substantially all of the liabilities of four failed banks in FDIC-assisted transactions. Under the early termination, all rights and obligations of the Company and the FDIC under the FDIC loss share agreements, including the clawback provisions and the settlement of loss share and expense reimbursement claims, have been resolved and terminated. Under the terms of the agreement, the FDIC made a net payment of $2,368,000 to the bank as consideration for the early termination of the loss share agreements. The early termination was recorded in the Company’s financial statements by removing the FDIC Indemnification Asset, receivable from FDIC, the FDIC True-up liability and recording a one-time, pre-tax charge of $7,476,000. As a result, the Company reclassified loans previously covered by FDIC loss share to loans acquired, not covered by FDIC loss share. Foreclosed assets previously covered by FDIC loss share were reclassified to foreclosed assets not covered by FDIC loss share. For further discussion of our acquisition and loan accounting, see Note 2, Acquisitions, and Note 5, Loans Acquired. |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Depreciable assets are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are capitalized and amortized by the straight-line method over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. |
Premises Held-for-sale Policy [Policy Text Block] | Premises Held for Sale The Company records premises held for sale at the lower of (1) cost less accumulated depreciation or (2) fair value less estimated selling expenses. These assets are assessed for impairment at the time they are reclassified as held for sale and periodically thereafter. |
Real Estate Held for Development and Sale, Policy [Policy Text Block] | Foreclosed Assets Held For Sale Assets acquired by foreclosure or in settlement of debt and held for sale are valued at estimated fair value as of the date of foreclosure, and a related valuation allowance is provided for estimated costs to sell the assets. Management evaluates the value of foreclosed assets held for sale periodically and increases the valuation allowance for any subsequent declines in fair value. Changes in the valuation allowance are charged or credited to other expense. |
Bank Owned Life Insurance, Policy [Policy Text Block} | Bank Owned Life Insurance The Company maintains bank-owned life insurance policies on certain current and former employees and directors, which are recorded at their cash surrender values as determined by the insurance carriers. The appreciation in the cash surrender value of the policies is recognized as a component of non-interest income in the Company’s consolidated statements of income. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. Other intangible assets represent purchased assets that also lack physical substance but can be separately distinguished from goodwill because of contractual or other legal rights or because the asset is capable of being sold or exchanged either on its own or in combination with a related contract, asset or liability. The Company performs an annual goodwill impairment test, and more frequently if circumstances warrant, in accordance with ASC Topic 350, Intangibles – Goodwill and Other |
Derivatives, Policy [Policy Text Block] | Derivative Financial Instruments The Company may enter into derivative contracts for the purposes of managing exposure to interest rate risk to meet the financing needs of its customers. The Company records all derivatives on the balance sheet at fair value. Historically, the Company’s policy has been not to invest in derivative type investments, but, in an effort to meet the financing needs of its customers, the Company has entered into limited fair value hedges. Fair value hedges include interest rate swap agreements on fixed rate loans. For derivatives designated as hedging the exposure to changes in the fair value of the hedged item, the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain of the hedging instrument. The fair value hedges are considered to be highly effective and any hedge ineffectiveness was deemed not material. The notional amount of the swaps was $61.3 million at December 31, 2015, and $14.6 million at December 31, 2014. |
Repurchase and Resale Agreements Policy [Policy Text Block] | Securities Sold Under Agreements to Repurchase The Company sells securities under agreements to repurchase to meet customer needs for sweep accounts. At the point funds deposited by customers become investable, those funds are used to purchase securities owned by the Company and held in its general account with the designation of Customers’ Securities. A third party maintains control over the securities underlying overnight repurchase agreements. The securities involved in these transactions are generally U.S. Treasury or Federal Agency issues. Securities sold under agreements to repurchase generally mature on the banking day following that on which the investment was initially purchased and are treated as collateralized financing transactions which are recorded at the amounts at which the securities were sold plus accrued interest. Interest rates and maturity dates of the securities involved vary and are not intended to be matched with funds from customers. |
Investment Banking Fees, Policy [Policy Text Block] | Bankcard Fee Income Periodic bankcard fees, net of direct origination costs, are recognized as revenue on a straight-line basis over the period the fee entitles the cardholder to use the card. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with income tax accounting guidance in ASC Topic 740, Income Taxes Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. The Company files consolidated income tax returns with its subsidiaries. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share Basic earnings per share are computed based on the weighted average number of shares outstanding during each year. Diluted earnings per share are computed using the weighted average common shares and all potential dilutive common shares outstanding during the period. The computation of per share earnings is as follows: (In thousands, except per share data) 2015 2014 2013 Net income available to common shareholders $ 74,107 $ 35,688 $ 23,231 Average common shares outstanding 28,084 16,879 16,339 Average potential dilutive common shares 126 43 13 Average diluted common shares 28,210 16,922 16,352 Basic earnings per share $ 2.64 $ 2.11 $ 1.42 Diluted earnings per share $ 2.63 $ 2.11 $ 1.42 Stock options to purchase 84,780 shares for the year ended December 31, 2013 were not included in the earnings per share calculation because the exercise price exceeded the average market price. There were no such shares for the years ended December 31, 2015 and 2014. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company has adopted various stock-based compensation plans. The plans provide for the grant of incentive stock options, nonqualified stock options, stock appreciation rights and bonus stock awards. Pursuant to the plans, shares are reserved for future issuance by the Company, upon exercise of stock options or awarding of bonus shares granted to directors, officers and other key employees. In accordance with ASC Topic 718, Compensation – Stock Compensation |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events As part of the acquisition of Community First, the Company issued 30,852 shares of Senior Non-Cumulative Perpetual Preferred Stock, Series A (“Simmons Series A Preferred Stock”). The preferred stock is held by the United States Department of the Treasury (“Treasury”) as the Community First Series C Preferred Stock was issued when Community First entered into a Small Business Lending Fund Securities Purchase Agreement with the Treasury. On January 29, 2016, the Company redeemed all of the preferred stock, including accrued and unpaid dividends. On February 19, 2016, the trust and fiduciary business operations of Simmons First Trust Company, N.A., a wholly-owned subsidiary of Simmons Bank, were merged into Simmons Bank. |
Note 1 - Summary of Significa31
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | (In thousands, except per share data) 2015 2014 2013 Net income available to common shareholders $ 74,107 $ 35,688 $ 23,231 Average common shares outstanding 28,084 16,879 16,339 Average potential dilutive common shares 126 43 13 Average diluted common shares 28,210 16,922 16,352 Basic earnings per share $ 2.64 $ 2.11 $ 1.42 Diluted earnings per share $ 2.63 $ 2.11 $ 1.42 |
Note 2 - Acquisitions (Tables)
Note 2 - Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | (In thousands) Acquired from Fair Value Fair Assets Acquired Cash and due from banks, including time deposits $ 102,637 $ (14 ) $ 102,623 Federal funds sold 7,060 -- 7,060 Investment securities 99,123 (335 ) 98,788 Loans acquired, not covered by FDIC loss share 790,493 (9,835 ) 780,658 Allowance for loan losses (10,422 ) 10,422 -- Premises and equipment 34,239 (3,215 ) 31,024 Bank owned life insurance 16,972 -- 16,972 Core deposit intangible 699 13,857 14,556 Other intangibles 3,063 (3,063 ) -- Other assets 17,703 (3,112 ) 14,591 Total assets acquired $ 1,061,567 $ 4,705 $ 1,066,272 Liabilities Assumed Deposits: Non-interest bearing transaction accounts $ 146,618 $ -- $ 146,618 Interest bearing transaction accounts and savings deposits 543,183 -- 543,183 Time deposits 184,913 -- 184,913 Total deposits 874,714 -- 874,714 FHLB borrowings 46,128 223 46,351 Subordinated debentures 20,620 (510 ) 20,110 Accrued interest and other liabilities 7,828 300 8,128 Total liabilities assumed 949,290 13 949,303 Equity 112,277 (112,277 ) -- Total equity assumed 112,277 (112,277 ) -- Total liabilities and equity assumed $ 1,061,567 $ (112,264 ) $ 949,303 Net assets acquired 116,969 Purchase price 212,176 Goodwill $ 95,207 (In thousands) Acquired from Fair Value Fair Assets Acquired Cash and due from banks $ 39,848 $ -- $ 39,848 Federal funds sold 76,508 -- 76,508 Investment securities 570,199 (3,381 ) 566,818 Loans acquired, not covered by FDIC loss share 1,163,398 (26,855 ) 1,136,543 Allowance for loan losses (14,635 ) 14,635 -- Foreclosed assets not covered by FDIC loss share 747 -- 747 Premises and equipment 44,837 (2,794 ) 42,043 Bank owned life insurance 22,149 -- 22,149 Goodwill 100 (100 ) -- Core deposit intangible -- 11,273 11,273 Other intangibles -- 420 420 Deferred tax asset 3,700 3,538 7,238 Other assets 11,474 -- 11,474 Total assets acquired $ 1,918,325 $ (3,264 ) $ 1,915,061 Liabilities Assumed Deposits: Non-interest bearing transaction accounts $ 103,825 $ -- $ 103,825 Interest bearing transaction accounts and savings deposits 995,207 -- 995,207 Time deposits 436,181 849 437,030 Total deposits 1,535,213 849 1,536,062 Federal funds purchased and securities sold under agreement to repurchase 16,230 -- 16,230 FHLB borrowings 143,047 674 143,721 Subordinated debentures 21,754 (840 ) 20,914 Accrued interest and other liabilities 8,769 601 9,370 Total liabilities assumed 1,725,013 1,284 1,726,297 Equity 193,312 (193,312 ) -- Total equity assumed 193,312 (193,312 ) -- Total liabilities and equity assumed $ 1,918,325 $ (192,028 ) $ 1,726,297 Net assets acquired 188,764 Purchase price 299,204 Goodwill $ 110,440 (In thousands) Acquired from Fair Value Fair Assets Acquired Cash $ 1,756 $ -- $ 1,756 Investment securities 241 -- 241 Premises and equipment 1,126 418 1,544 Other intangibles -- 9,733 9,733 Other assets 752 -- 752 Total assets acquired $ 3,875 $ 10,151 $ 14,026 Liabilities Assumed Deferred tax liability 63 3,982 4,045 Accrued and other liabilities 302 -- 302 Total liabilities assumed 365 3,982 4,347 Equity 3,510 (3,510 ) -- Total equity assumed 3,510 (3,510 ) -- Total liabilities and equity assumed $ 3,875 $ 472 $ 4,347 Net assets acquired 9,679 Purchase price 23,623 Goodwill $ 13,944 (In thousands) Acquired from Fair Value Fair Assets Acquired Cash and due from banks $ 13,739 $ -- $ 13,739 Investment securities 62,410 (37 ) 62,373 Loans acquired, not covered by FDIC loss share 326,829 (15,149 ) 311,680 Allowance for loan losses (6,008 ) 6,008 -- Foreclosed assets not covered by FDIC loss share 3,262 (1,471 ) 1,791 Premises and equipment 4,405 (433 ) 3,972 Bank owned life insurance 7,530 -- 7,530 Goodwill 822 (822 ) -- Core deposit intangible -- 4,318 4,318 Other intangibles 137 5,003 5,140 Deferred tax asset 1,859 558 2,417 Other assets 5,807 (1,381 ) 4,426 Total assets acquired $ 420,792 $ (3,406 ) $ 417,386 Liabilities Assumed Deposits: Non-interest bearing transaction accounts $ 63,259 $ -- $ 63,259 Interest bearing transaction accounts and savings deposits 200,596 -- 200,596 Time deposits 91,507 -- 91,507 Total deposits 355,362 -- 355,362 Fed funds purchased 11,100 -- 11,100 Other borrowings 11,106 (129 ) 10,977 Accrued interest and other liabilities 1,528 -- 1,528 Total liabilities assumed 379,096 (129 ) 378,967 Equity 41,696 (41,696 ) -- Total equity assumed 41,696 (41,696 ) -- Total liabilities and equity assumed $ 420,792 $ (41,825 ) $ 378,967 Net assets acquired 38,419 Purchase price 67,441 Goodwill $ 29,022 (In thousands) Acquired from Fair Value Fair Assets Acquired Cash and due from banks $ 12,026 $ -- $ 12,026 Interest bearing balances due from banks 77,059 -- 77,059 Investment securities 235,160 (2,259 ) 232,901 Loans acquired, not covered by FDIC loss share 494,839 (37,467 ) 457,372 Allowance for loan losses (19,025 ) 19,025 -- Foreclosed assets not covered by FDIC loss share 64,397 (21,455 ) 42,942 Premises and equipment 74,753 (22,575 ) 52,178 Core deposit intangible -- 9,844 9,844 Deferred tax asset -- 30,699 30,699 Other assets 5,646 (1,327 ) 4,319 Total assets acquired 944,855 (25,515 ) 919,340 Liabilities Assumed Deposits: Non-interest bearing transaction accounts 150,259 -- 150,259 Interest bearing transaction accounts and savings deposits 341,410 -- 341,410 Time deposits 345,326 512 345,838 Total deposits 836,995 512 837,507 Fed funds purchased and other borrowings 36,637 -- 36,637 Accrued interest and other liabilities 9,443 77 9,520 Total liabilities assumed 883,075 589 883,664 Equity 61,780 (61,780 ) -- Total equity assumed 61,780 (61,780 ) -- Total liabilities and equity assumed $ 944,855 $ (61,191 ) $ 883,664 Net assets acquired 35,676 Purchase price 53,600 Goodwill $ 17,924 |
Business Acquisition, Pro Forma Information [Table Text Block] | Years Ended December 31 (In thousands, except per share data) 2015 2014 Revenue (1) $ 395,959 $ 390,606 Net income $ 85,773 $ 64,166 Earnings per share $ 2.68 $ 2.24 |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment [Table Text Block] | Years Ended December 31 2015 2014 (In thousands) Amortized Gross Gross Estimated Amortized Gross Gross Estimated Held-to-Maturity U.S. Government agencies $ 237,139 $ 582 $ (1,395 ) $ 236,326 $ 418,914 $ 929 $ (4,055 ) $ 415,788 Mortgage-backed securities 24,774 86 (290 ) 24,570 29,743 56 (411 ) 29,388 State and political subdivisions 440,676 9,138 (123 ) 449,691 328,310 7,000 (573 ) 334,737 Other securities 2,784 -- -- 2,784 620 -- -- 620 Total $ 705,373 $ 9,806 $ (1,808 ) $ 713,371 $ 777,587 $ 7,985 $ (5,039 ) $ 780,533 Available-for-Sale U.S. Treasury $ 4,000 $ -- $ (6 ) $ 3,994 $ 4,000 $ 1 $ (9 ) $ 3,992 U.S. Government agencies 121,017 118 (898 ) 120,237 275,381 15 (2,580 ) 272,816 Mortgage-backed securities 650,619 937 (4,130 ) 647,426 1,579 -- (7 ) 1,572 State and political subdivisions 9,762 112 -- 9,874 6,536 7 (3 ) 6,540 Other securities 40,394 420 (938 ) 39,876 19,985 386 (8 ) 20,363 Total $ 825,792 $ 1,587 $ (5,972 ) $ 821,407 $ 307,481 $ 409 $ (2,607 ) $ 305,283 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than 12 Months 12 Months or More Total (In thousands) Estimated Gross Estimated Gross Estimated Gross December 31, 2015 Held-to-Maturity U.S. Government agencies $ 107,758 $ 567 $ 79,166 $ 828 $ 186,924 $ 1,395 Mortgage-backed securities 7,958 94 8,144 196 16,102 290 State and political subdivisions 27,866 100 3,946 23 31,812 123 Total $ 143,582 $ 761 $ 91,256 $ 1,047 $ 234,838 $ 1,808 Available-for-Sale U.S. Treasury $ 3,994 $ 6 $ -- $ -- $ 3,994 $ 6 U.S. Government agencies 62,473 317 46,023 581 108,496 898 Mortgage-backed securities 523,185 4,130 -- -- 523,185 4,130 State and political subdivisions 281 -- -- -- 281 -- Other securities 1,060 937 510 1 1,570 938 Total $ 590,993 $ 5,390 $ 46,533 $ 582 $ 637,526 $ 5,972 December 31, 2014 Held-to-Maturity U.S. Government agencies $ 265,591 $ 2,500 $ 84,398 $ 1,555 $ 349,989 $ 4,055 Mortgage-backed securities 10,077 67 14,250 344 24,327 411 State and political subdivisions 57,607 444 8,976 129 66,583 573 Total $ 333,275 $ 3,011 $ 107,624 $ 2,028 $ 440,899 $ 5,039 Available-for-Sale U.S. Treasury $ 3,992 $ 9 $ -- $ -- $ 3,992 $ 9 U.S. Government agencies 171,114 1,472 61,195 1,108 232,309 2,580 Mortgage-backed securities 1,542 7 -- -- 1,542 7 State and political subdivisions 1,005 3 -- -- 1,005 3 Other securities 764 8 -- -- 764 8 Total $ 178,417 $ 1,499 $ 61,195 $ 1,108 $ 239,612 $ 2,607 |
Investment Income [Table Text Block] | (In thousands) 2015 2014 2013 Taxable Held-to-maturity $ 5,162 $ 5,839 $ 3,314 Available-for-sale 12,129 2,785 2,239 Non-taxable Held-to-maturity 11,635 10,625 7,682 Available-for-sale 1,687 108 65 Total $ 30,613 $ 19,357 $ 13,300 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Held-to-Maturity Available-for-Sale (In thousands) Amortized Fair Amortized Fair Value One year or less $ 28,739 $ 28,807 $ 28,543 $ 28,512 After one through five years 315,065 314,557 88,911 88,048 After five through ten years 127,795 130,087 13,727 13,899 After ten years 209,000 215,350 5,363 5,412 Securities not due on a single maturity date 24,774 24,570 650,619 647,426 Other securities (no maturity) -- -- 38,629 38,110 Total $ 705,373 $ 713,371 $ 825,792 $ 821,407 |
Note 4 - Loans and Allowance 34
Note 4 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) 2015 2014 Consumer: Credit cards $ 177,288 $ 185,380 Other consumer 208,380 103,402 Total consumer 385,668 288,782 Real estate: Construction 279,740 181,968 Single family residential 696,180 455,563 Other commercial 1,229,072 714,797 Total real estate 2,204,992 1,352,328 Commercial: Commercial 500,116 291,820 Agricultural 148,563 115,658 Total commercial 648,679 407,478 Other 7,115 5,133 Loans 3,246,454 2,053,721 Loans acquired, not covered by FDIC loss share (net of discount and allowance) (1) 1,672,901 575,980 Loans acquired, covered by FDIC loss share (net of discount and allowance) (1) -- 106,933 Total loans $ 4,919,355 $ 2,736,634 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In thousands) 2015 2014 Consumer: Credit cards $ 212 $ 197 Other consumer 442 405 Total consumer 654 602 Real estate: Construction 4,955 4,863 Single family residential 5,453 4,010 Other commercial 4,420 1,522 Total real estate 14,828 10,395 Commercial: Commercial 1,968 585 Agricultural 264 456 Total commercial 2,232 1,041 Total $ 17,714 $ 12,038 |
Past Due Financing Receivables [Table Text Block] | (In thousands) Gross 90 Days Total Current Total 90 Days December 31, 2015 Consumer: Credit cards $ 639 $ 479 $ 1,118 $ 176,170 $ 177,288 $ 267 Other consumer 1,879 648 2,527 205,853 208,380 374 Total consumer 2,518 1,127 3,645 382,023 385,668 641 Real estate: Construction 1,328 4,511 5,839 273,901 279,740 -- Single family residential 4,856 3,342 8,198 687,982 696,180 364 Other commercial 869 3,302 4,171 1,224,901 1,229,072 25 Total real estate 7,053 11,155 18,208 2,186,784 2,204,992 389 Commercial: Commercial 3,427 637 4,064 496,052 500,116 90 Agricultural 285 243 528 148,035 148,563 56 Total commercial 3,712 880 4,592 644,087 648,679 146 Other 108 93 -- 7,115 7,115 15 Total $ 13,391 $ 13,255 $ 26,445 $ 3,220,009 $ 3,246,454 $ 1,191 December 31, 2014 Consumer: Credit cards $ 687 $ 457 $ 1,144 $ 184,236 $ 185,380 $ -- Other consumer 1,349 447 1,796 101,606 103,402 223 Total consumer 2,036 904 2,940 285,842 288,782 223 Real estate: Construction 760 570 1,330 180,638 181,968 177 Single family residential 4,913 2,213 7,126 448,437 455,563 248 Other commercial 1,987 847 2,834 711,963 714,797 -- Total real estate 7,660 3,630 11,290 1,341,038 1,352,328 425 Commercial: Commercial 381 354 735 291,085 291,820 -- Agricultural 119 109 228 115,430 115,658 40 Total commercial 500 463 963 406,515 407,478 40 Other -- -- -- 5,133 5,133 -- Total $ 10,196 $ 4,997 $ 15,193 $ 2,038,528 $ 2,053,721 $ 688 |
Impaired Financing Receivables [Table Text Block] | (In thousands) Unpaid Recorded Recorded Total Related Average Interest December 31, 2015 Consumer: Credit cards $ 479 $ 479 $ -- $ 479 $ 7 $ 411 $ 30 Other consumer 459 423 19 442 85 562 40 Total consumer 938 902 19 921 92 973 70 Real estate: Construction 5,678 1,636 3,318 4,954 441 5,417 390 Single family residential 5,938 4,702 945 5,647 1,034 5,148 370 Other commercial 5,688 4,328 88 4,416 832 3,147 227 Total real estate 17,304 10,666 4,351 15,017 2,307 13,712 987 Commercial: Commercial 2,656 1,654 334 1,988 387 1,736 125 Agricultural 264 264 -- 264 45 254 18 Total commercial 2,920 1,918 334 2,252 432 1,990 143 Total $ 21,162 $ 13,486 $ 4,704 $ 18,190 $ 2,831 $ 16,675 $ 1,200 December 31, 2014 Consumer: Credit cards $ 197 $ 197 $ -- $ 197 $ 6 $ 425 $ 20 Other consumer 604 610 9 619 118 780 34 Total consumer 801 807 9 816 124 1,205 54 Real estate: Construction 7,400 7,020 -- 7,020 599 4,334 189 Single family residential 4,442 3,948 377 4,325 899 4,291 187 Other commercial 1,955 1,446 36 1,482 268 6,788 296 Total real estate 13,797 12,414 413 12,827 1,766 15,413 672 Commercial: Commercial 1,227 566 -- 566 102 630 27 Agricultural 501 460 -- 460 83 234 10 Total commercial 1,728 1,026 -- 1,026 185 864 38 Total $ 16,236 $ 14,247 $ 422 $ 14,669 $ 2,075 $ 17,482 $ 764 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Accruing TDR Loans Nonaccrual TDR Loans Total TDR Loans (Dollars in thousands) Number Balance Number Balance Number Balance December 31, 2015 Consumer: Other consumer -- $ -- 1 $ 13 1 13 Total consumer -- -- 1 13 1 13 Real estate: Construction -- -- 1 253 1 $ 253 Single-family residential 2 137 11 1,335 13 1,472 Other commercial 4 2,894 1 597 5 3,491 Total real estate 6 3,031 13 2,185 19 5,216 Commercial: Commercial -- -- 5 332 5 332 Total commercial -- -- 5 332 5 332 Total 6 $ 3,031 19 $ 2,530 25 $ 5,561 December 31, 2014 Real estate: Construction -- $ -- 1 $ 391 1 $ 391 Single-family residential 2 393 1 3 3 396 Other commercial 3 1,840 1 614 4 2,454 Total real estate 5 2,233 3 1,008 8 3,241 Total 5 $ 2,233 3 $ 1,008 8 $ 3,241 |
Schedule of Loans Restructured as TDRs [Table Text Block] | Modification Type (Dollars in thousands) Number of Balance Prior Balance at Change in Change in Financial Impact Year Ended December 31, 2015 Consumer: Other consumer 1 $ 13 $ 13 $ 13 $ -- $ -- Total consumer 1 13 13 13 -- -- Real estate: Single-family residential 11 1,179 1,103 1,103 Other commercial 1 1,097 1,097 1,097 -- $ -- Total real estate 12 2,276 2,200 2,200 -- -- Commercial: Commercial 5 347 332 332 -- -- Total commercial 5 347 332 332 -- -- Total 18 $ 2,636 $ 2,545 $ 2,545 $ -- $ -- Year Ended December 31, 2014 Real estate: Other commercial 2 $ 1,427 $ 1,427 $ 396 $ 1,031 $ -- Total real estate 2 1,427 1,427 396 1,031 -- Commercial: Commercial 1 $ 598 $ -- $ -- $ -- $ -- Total commercial 1 598 -- -- -- -- Total 3 $ 2,025 $ 1,427 $ 396 $ 1,031 $ -- |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total December 31, 2015 Consumer: Credit cards $ 176,809 $ -- $ 479 $ -- $ -- $ 177,288 Other consumer 207,069 -- 1,262 49 -- 208,380 Total consumer 383,878 -- 1,741 49 -- 385,668 Real estate: Construction 270,386 319 9,019 16 -- 279,740 Single family residential 679,484 2,701 13,824 171 -- 696,180 Other commercial 1,178,817 5,404 44,261 590 -- 1,229,072 Total real estate 2,128,687 8,424 67,104 777 -- 2,204,992 Commercial: Commercial 487,563 2,760 9,787 6 -- 500,116 Agricultural 147,788 -- 775 -- -- 148,563 Total commercial 635,351 2,760 10,562 6 -- 648,679 Other 7,022 -- 93 -- -- 7,115 Loans acquired, not covered by FDIC loss share 1,590,384 9,150 69,219 3,689 459 1,672,901 Total $ 4,745,322 $ 20,334 $ 148,719 $ 4,521 $ 459 $ 4,919,355 (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total December 31, 2014 Consumer: Credit cards $ 184,923 $ -- $ 457 $ -- $ -- $ 185,380 Other consumer 102,515 5 839 43 -- 103,402 Total consumer 287,438 5 1,296 43 -- 288,782 Real estate: Construction 176,825 84 5,059 -- -- 181,968 Single family residential 446,040 1,776 7,665 82 -- 455,563 Other commercial 698,329 7,074 9,394 -- -- 714,797 Total real estate 1,321,194 8,934 22,118 82 -- 1,352,328 Commercial: Commercial 271,017 1,544 19,248 11 -- 291,820 Agricultural 115,106 20 532 -- -- 115,658 Total commercial 386,123 1,564 19,780 11 -- 407,478 Other 5,133 -- -- -- -- 5,133 Loans acquired, not covered by FDIC loss share 535,728 1,435 36,958 1,854 5 575,980 Loans acquired, covered by FDIC loss share 106,933 -- -- -- -- 106,933 Total $ 2,642,549 $ 11,938 $ 80,152 $ 1,990 $ 5 $ 2,736,634 |
Schedule of Net (charge-offs)/recoveries, excluding loans acquired [Table Text Block] | (In thousands) 2015 2014 Consumer: Credit cards $ (2,217 ) $ (2,292 ) Student loans -- (38 ) Other consumer (1,134 ) (1,130 ) Total consumer (3,351 ) (3,460 ) Real estate: Construction (44 ) (356 ) Single family residential (407 ) (595 ) Other commercial (926 ) (167 ) Total real estate (1,377 ) (1,118 ) Commercial: Commercial (1,202 ) (704 ) Agricultural (33 ) (14 ) Total commercial (1,235 ) (718 ) Total $ (5,963 ) $ (5,296 ) |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (In thousands) Commercial Real Credit Other Total December 31, 2015 (1) Balance, beginning of year $ 6,962 $ 15,161 $ 5,445 $ 1,460 $ 29,028 Provision for loan losses (1) 258 5,738 665 1,625 8,286 Charge-offs (1,415 ) (1,580 ) (3,107 ) (1,672 ) (7,774 ) Recoveries 180 203 890 538 1,811 Net charge-offs (1,235 ) (1,377 ) (2,217 ) (1,134 ) (5,963 ) Balance, end of year (1) $ 5,985 $ 19,522 $ 3,893 $ 1,951 $ 31,351 Period-end amount allocated to: Loans individually evaluated for impairment $ 432 $ 2,307 $ 7 $ 85 $ 2,831 Loans collectively evaluated for impairment 5,553 17,215 3,886 1,866 28,520 Balance, end of year (1) $ 5,985 $ 19,522 $ 3,893 $ 1,951 $ 31,351 December 31, 2014 (2) Balance, beginning of year $ 3,205 $ 16,885 $ 5,430 $ 1,922 $ 27,442 Provision for loan losses (1) 4,475 (606 ) 2,307 706 6,882 Charge-offs (1,044 ) (2,684 ) (3,188 ) (1,638 ) (8,554 ) Recoveries 326 1,566 896 470 3,258 Net charge-offs (718 ) (1,118 ) (2,292 ) (1,168 ) (5,296 ) Balance, end of year (2) $ 6,962 $ 15,161 $ 5,445 $ 1,460 $ 29,028 Period-end amount allocated to: Loans individually evaluated for impairment $ 185 $ 1,766 $ 6 $ 118 $ 2,075 Loans collectively evaluated for impairment 6,777 13,405 5,439 1,342 26,963 Balance, end of year (2) $ 6,962 $ 15,161 $ 5,445 $ 1,460 $ 29,028 (In thousands) Commercial Real Credit Other Total December 31, 2013 Balance, beginning of year $ 3,446 $ 15,453 $ 7,211 $ 1,772 $ 27,882 Provision for loan losses (51 ) 2,468 581 1,120 4,118 Charge-offs (382 ) (1,628 ) (3,263 ) (1,561 ) (6,834 ) Recoveries 192 592 901 591 2,276 Net charge-offs (190 ) (1,036 ) (2,362 ) (970 ) (4,558 ) Balance, end of year $ 3,205 $ 16,885 $ 5,430 $ 1,922 $ 27,442 |
Schedule of Loans by impairment evaluation [Table Text Block] | (In thousands) Commercial Real Credit Other Total December 31, 2015 Loans individually evaluated for impairment $ 2,252 $ 15,017 $ 479 $ 442 $ 18,190 Loans collectively evaluated for impairment 646,427 2,189,975 176,809 215,053 3,228,264 Balance, end of period $ 648,679 $ 2,204,992 $ 177,288 $ 215,495 $ 3,246,454 December 31, 2014 Loans individually evaluated for impairment $ 1,026 $ 12,827 $ 197 $ 619 $ 14,669 Loans collectively evaluated for impairment 406,452 1,339,501 185,183 107,916 2,039,052 Balance, end of period $ 407,478 $ 1,352,328 $ 185,380 $ 108,535 $ 2,053,721 |
Note 5 - Loans Acquired (Tables
Note 5 - Loans Acquired (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Note 5 - Loans Acquired (Tables) [Line Items] | |
Carrying Value Of All Acquired Impaired Loans [Table Text Block] | Loans Acquired (in thousands) 2015 2014 Consumer: Credit cards $ -- $ -- Other consumer 75,606 8,514 Total consumer 75,606 8,514 Real estate: Construction 77,119 46,911 Single family residential 501,002 175,970 Other commercial 854,068 390,877 Total real estate 1,432,189 613,758 Commercial: Commercial 154,533 56,134 Agricultural 10,573 4,507 Total commercial 165,106 60,641 Total loans acquired (1) $ 1,672,901 $ 682,913 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In thousands) 2015 2014 Consumer: Credit cards $ 212 $ 197 Other consumer 442 405 Total consumer 654 602 Real estate: Construction 4,955 4,863 Single family residential 5,453 4,010 Other commercial 4,420 1,522 Total real estate 14,828 10,395 Commercial: Commercial 1,968 585 Agricultural 264 456 Total commercial 2,232 1,041 Total $ 17,714 $ 12,038 |
Past Due Financing Receivables [Table Text Block] | (In thousands) Gross 90 Days Total Current Total 90 Days December 31, 2015 Consumer: Credit cards $ 639 $ 479 $ 1,118 $ 176,170 $ 177,288 $ 267 Other consumer 1,879 648 2,527 205,853 208,380 374 Total consumer 2,518 1,127 3,645 382,023 385,668 641 Real estate: Construction 1,328 4,511 5,839 273,901 279,740 -- Single family residential 4,856 3,342 8,198 687,982 696,180 364 Other commercial 869 3,302 4,171 1,224,901 1,229,072 25 Total real estate 7,053 11,155 18,208 2,186,784 2,204,992 389 Commercial: Commercial 3,427 637 4,064 496,052 500,116 90 Agricultural 285 243 528 148,035 148,563 56 Total commercial 3,712 880 4,592 644,087 648,679 146 Other 108 93 -- 7,115 7,115 15 Total $ 13,391 $ 13,255 $ 26,445 $ 3,220,009 $ 3,246,454 $ 1,191 December 31, 2014 Consumer: Credit cards $ 687 $ 457 $ 1,144 $ 184,236 $ 185,380 $ -- Other consumer 1,349 447 1,796 101,606 103,402 223 Total consumer 2,036 904 2,940 285,842 288,782 223 Real estate: Construction 760 570 1,330 180,638 181,968 177 Single family residential 4,913 2,213 7,126 448,437 455,563 248 Other commercial 1,987 847 2,834 711,963 714,797 -- Total real estate 7,660 3,630 11,290 1,341,038 1,352,328 425 Commercial: Commercial 381 354 735 291,085 291,820 -- Agricultural 119 109 228 115,430 115,658 40 Total commercial 500 463 963 406,515 407,478 40 Other -- -- -- 5,133 5,133 -- Total $ 10,196 $ 4,997 $ 15,193 $ 2,038,528 $ 2,053,721 $ 688 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total December 31, 2015 Consumer: Credit cards $ 176,809 $ -- $ 479 $ -- $ -- $ 177,288 Other consumer 207,069 -- 1,262 49 -- 208,380 Total consumer 383,878 -- 1,741 49 -- 385,668 Real estate: Construction 270,386 319 9,019 16 -- 279,740 Single family residential 679,484 2,701 13,824 171 -- 696,180 Other commercial 1,178,817 5,404 44,261 590 -- 1,229,072 Total real estate 2,128,687 8,424 67,104 777 -- 2,204,992 Commercial: Commercial 487,563 2,760 9,787 6 -- 500,116 Agricultural 147,788 -- 775 -- -- 148,563 Total commercial 635,351 2,760 10,562 6 -- 648,679 Other 7,022 -- 93 -- -- 7,115 Loans acquired, not covered by FDIC loss share 1,590,384 9,150 69,219 3,689 459 1,672,901 Total $ 4,745,322 $ 20,334 $ 148,719 $ 4,521 $ 459 $ 4,919,355 (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total December 31, 2014 Consumer: Credit cards $ 184,923 $ -- $ 457 $ -- $ -- $ 185,380 Other consumer 102,515 5 839 43 -- 103,402 Total consumer 287,438 5 1,296 43 -- 288,782 Real estate: Construction 176,825 84 5,059 -- -- 181,968 Single family residential 446,040 1,776 7,665 82 -- 455,563 Other commercial 698,329 7,074 9,394 -- -- 714,797 Total real estate 1,321,194 8,934 22,118 82 -- 1,352,328 Commercial: Commercial 271,017 1,544 19,248 11 -- 291,820 Agricultural 115,106 20 532 -- -- 115,658 Total commercial 386,123 1,564 19,780 11 -- 407,478 Other 5,133 -- -- -- -- 5,133 Loans acquired, not covered by FDIC loss share 535,728 1,435 36,958 1,854 5 575,980 Loans acquired, covered by FDIC loss share 106,933 -- -- -- -- 106,933 Total $ 2,642,549 $ 11,938 $ 80,152 $ 1,990 $ 5 $ 2,736,634 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | (in thousands) Not Impaired Impaired Contractually required principal and interest at acquisition $ 774,777 $ 15,716 Non-accretable difference (expected losses and foregone interest) -- (4,978 ) Cash flows expected to be collected at acquisition 774,777 10,738 Accretable yield (4,869 ) 12 Basis in acquired loans at acquisition $ 769,908 $ 10,750 (in thousands) Not Impaired Impaired Contractually required principal and interest at acquisition $ 1,153,255 $ 10,143 Non-accretable difference (expected losses and foregone interest) -- (3,247 ) Cash flows expected to be collected at acquisition 1,153,255 6,896 Accretable yield (23,712 ) 104 Basis in acquired loans at acquisition $ 1,129,543 $ 7,000 (in thousands) Not Impaired Impaired Contractually required principal and interest at acquisition $ 316,103 $ 10,726 Non-accretable difference (expected losses and foregone interest) -- (7,023 ) Cash flows expected to be collected at acquisition 316,103 3,703 Accretable yield (7,949 ) (177 ) Basis in acquired loans at acquisition $ 308,154 $ 3,526 (in thousands) Not Impaired Impaired Contractually required principal and interest at acquisition $ 442,009 $ 52,830 Non-accretable difference (expected losses and foregone interest) -- (21,962 ) Cash flows expected to be collected at acquisition 442,009 30,868 Accretable yield (12,989 ) (2,516 ) Basis in acquired loans at acquisition $ 429,020 $ 28,352 |
Tabular Temporal Display of Adjustments Related to Purchased Covered Impaired Loans [Table Text Block] | (In thousands) 2015 2014 Impact on net interest income $ 19,995 $ 26,400 Non-interest income (1) (7,719 ) (20,540 ) Net impact to pre-tax income 12,276 5,860 Net impact, net of taxes $ 7,461 $ 3,561 |
Tabular Temporal Display of Accretable Yield [Table Text Block] | (in thousands) Accretable Carrying Balance, January 1, 2013 $ 58,066 $ 293,606 Additions 2,516 28,352 Accretable yield adjustments 17,380 -- Accretion (36,577 ) 36,577 Payments and other reductions, net -- (123,750 ) Balance, December 31, 2013 41,385 234,785 Additions 177 3,526 Accretable yield adjustments 9,104 -- Accretion (30,031 ) 30,031 Payments and other reductions, net -- (99,244 ) Balance, December 31, 2014 20,635 169,098 Additions (116 ) 17,750 Accretable yield adjustments 6,593 -- Accretion (21,038 ) 21,038 Payments and other reductions, net (5,120 ) (184,417 ) Balance, December 31, 2015 $ 954 $ 23,469 |
Summary of the Changes in the FDIC True-Up Provision [Table Text Block] | (in thousands) FDIC True-up Provision Balance, January 1, 2013 $ 4,854 Amortization expense 160 Adjustments related to changes in expected losses 1,754 Balance, December 31, 2013 6,768 Amortization expense 168 Adjustments related to changes in expected losses 1,372 Balance, December 31, 2014 8,308 Amortization expense 107 Adjustments related to changes in expected losses 720 Loss share termination agreement (9,135 ) Balance, December 31, 2015 $ -- |
Acquired Loans [Member] | |
Note 5 - Loans Acquired (Tables) [Line Items] | |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In thousands) December 31, December 31, Consumer: Other consumer $ 71 $ 29 Total consumer 71 29 Real estate: Construction 783 105 Single family residential 7,795 2,018 Other commercial 6,435 271 Total real estate 15,013 2,394 Commercial: Commercial 3,859 291 Agricultural 8 3 Total commercial 3,867 294 Total $ 18,951 $ 2,717 |
Past Due Financing Receivables [Table Text Block] | (In thousands) Gross 90 Days Total Current Total 90 Days December 31, 2015 Consumer: Other consumer $ 826 $ 122 $ 948 $ 74,658 $ 75,606 $ 57 Total consumer 826 122 948 74,658 75,606 57 Real estate: Construction 736 9,449 10,185 66,934 77,119 410 Single family residential 9,493 4,850 14,343 486,659 501,002 1,246 Other commercial 12,910 7,810 20,720 833,348 854,068 203 Total real estate 23,139 22,109 45,248 1,386,941 1,432,189 1,859 Commercial: Commercial 1,999 2,334 4,333 150,200 154,533 912 Agricultural 114 396 510 10,063 10,573 396 Total commercial 2,113 2,730 4,843 160,263 165,106 1,308 Total $ 26,078 $ 24,961 $ 51,039 $ 1,621,862 $ 1,672,901 $ 3,224 December 31, 2014 Consumer: Other consumer $ 70 $ 34 $ 104 $ 8,407 $ 8,511 $ 5 Total consumer 70 34 104 8,407 8,511 5 Real estate: Construction 292 105 397 36,450 36,847 -- Single family residential 3,804 2,906 6,710 138,383 145,093 594 Other commercial 1,415 5,994 7,409 326,759 334,168 -- Total real estate 5,511 9,005 14,516 501,592 516,108 594 Commercial: Commercial 110 421 531 46,730 47,261 -- Agricultural -- -- -- 4,100 4,100 -- Total commercial 110 421 531 50,830 51,361 -- Total $ 5,691 $ 9,460 $ 15,151 $ 560,829 $ 575,980 $ 599 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total December 31, 2015 Consumer: Other consumer $ 75,330 $ -- $ 276 $ -- $ -- $ 75,606 Total consumer 75,330 -- 276 -- -- 75,606 Real estate: Construction 68,775 -- 8,344 -- -- 77,119 Single family residential 479,193 1,490 18,640 1,675 4 501,002 Other commercial 812,537 7,328 33,748 -- 455 854,068 Total real estate 1,360,505 8,818 60,732 1,675 459 1,432,189 Commercial: Commercial 144,239 332 7,948 2,014 -- 154,533 Agricultural 10,310 -- 263 -- -- 10,573 Total commercial 154,549 332 8,211 2,014 -- 165,106 Total $ 1,590,384 $ 9,150 $ 69,219 $ 3,689 $ 459 $ 1,672,901 December 31, 2014 Consumer: Other consumer $ 8,479 $ -- $ 32 $ -- $ -- $ 8,511 Total consumer 8,479 -- 32 -- -- 8,511 Real estate: Construction 27,430 78 9,339 -- -- 36,847 Single family residential 135,240 683 7,311 1,854 5 145,093 Other commercial 317,965 605 15,598 -- -- 334,168 Total real estate 480,635 1,366 32,248 1,854 5 516,108 Commercial: Commercial 43,585 69 3,607 -- -- 47,261 Agricultural 3,030 - 1,070 -- -- 4,100 Total commercial 46,615 69 4,677 -- -- 51,361 Total $ 535,729 $ 1,435 $ 36,957 $ 1,854 $ 5 $ 575,980 |
Note 6 - Goodwill and Other I36
Note 6 - Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Note 6 - Goodwill and Other Intangible Assets (Tables) [Line Items] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | (In thousands) 2015 2014 Goodwill $ 327,686 $ 108,095 Core deposit premiums: Gross carrying amount 43,648 18,318 Accumulated amortization (6,217 ) (2,386 ) Core deposit premiums, net 37,431 15,932 Purchased credit card relationships: Gross carrying amount 2,068 2,068 Accumulated amortization (931 ) (517 ) Purchased credit card relationships, net 1,137 1,551 Books of business intangible: Gross carrying amount 15,293 5,140 Accumulated amortization (624 ) (97 ) Books of business intangible, net 14,669 5,043 Other intangible assets, net 53,237 22,526 Total goodwill and other intangible assets $ 380,923 $ 130,621 |
Core Deposit Premium [Member] | |
Note 6 - Goodwill and Other Intangible Assets (Tables) [Line Items] | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (In thousands) Year Amortization 2016 $ 5,815 2017 5,815 2018 5,711 2019 5,401 2020 5,389 Thereafter 25,106 Total $ 53,237 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) 2015 2014 2013 Income taxes currently payable $ 19,301 $ 23,631 $ 13,923 Deferred income taxes 13,599 (9,029 ) (4,618 ) Provision for income taxes $ 32,900 $ 14,602 $ 9,305 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (In thousands) 2015 2014 Deferred tax assets: Loans acquired $ 14,716 $ 16,925 FDIC true-up liability -- 2,792 Allowance for loan losses 12,700 11,749 Valuation of foreclosed assets 11,212 14,167 Tax NOLs from acquisition 14,593 11,819 Deferred compensation payable 2,767 1,536 Vacation compensation 2,250 1,456 Accumulated depreciation -- 1,937 Accrued pension and profit sharing -- 1,793 Accrued equity and other compensation 5,197 3,356 Acquired securities 1,770 2,568 Other accrued liabilities 1,943 3,194 Unrealized loss on available-for-sale securities 1,655 862 Other 3,006 2,630 Gross deferred tax assets 71,809 76,784 Deferred tax liabilities: Goodwill and other intangible amortization (30,550 ) (16,953 ) FDIC acquired assets -- (4,377 ) Limitations under IRC Sec 382 (3,478 ) (11,169 ) Accumulated depreciation (3,914 ) -- Other (4,187 ) (3,537 ) Gross deferred tax liabilities (42,129 ) (36,036 ) Net deferred tax asset, included in other assets $ 29,680 $ 40,748 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (In thousands) 2015 2014 2013 Computed at the statutory rate (35%) $ 37,543 $ 17,601 $ 11,387 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax benefit 2,097 41 825 Tax exempt interest income (4,708 ) (3,774 ) (2,739 ) Tax exempt earnings on BOLI (724 ) (499 ) (461 ) Section 382 adjustment (2,293 ) -- -- Other differences, net 985 1,233 293 Actual tax provision $ 32,900 $ 14,602 $ 9,305 |
Note 9 - Securities Sold Unde38
Note 9 - Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Repurchase Agreements [Table Text Block] | Remaining Contractual Maturity of the Agreements (In thousands) Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total December 31, 2015 Repurchase agreements: U.S. Government agencies $ 89,512 $ -- $ -- $ 7,326 $ 96,838 December 31, 2014 Repurchase agreements: U.S. Government agencies $ 93,454 $ -- $ -- $ 7,317 $ 100,771 |
Note 10 - Other Borrowings an39
Note 10 - Other Borrowings and Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Debt [Table Text Block] | (In thousands) 2015 2014 Other Borrowings FHLB advances, net of discount, due 2016 to 2033, 0.35% to 7.37% secured by residential real estate loans $ 109,989 $ 71,582 Notes payable, due 10/15/2020, 3.85%, fixed rate, unsecured 52,300 43,100 Total other borrowings 162,289 114,682 Subordinated Debentures Trust preferred securities, due 12/30/2033, floating rate of 2.80% above the three month LIBOR rate, reset quarterly, callable without penalty 20,620 20,620 Trust preferred securities, net of discount, due 6/30/2035, floating rate of 1.75% above the three month LIBOR rate, reset quarterly, callable without penalty 9,723 -- Trust preferred securities, net of discount, due 9/15/2037, floating rate of 1.37% above the three month LIBOR rate, reset quarterly 9,975 -- Trust preferred securities, net of discount, due 12/3/2033, floating rate of 2.88% above the three month LIBOR rate, reset quarterly, callable without penalty 5,167 -- Trust preferred securities, net of discount, due 12/13/2034, floating rate of 2.00% above the three month LIBOR rate, reset quarterly, callable without penalty 5,063 -- Trust preferred securities, net of discount, due 6/6/2037, floating rate of 1.57% above the three month LIBOR rate, reset quarterly, callable without penalty 10,022 -- Total subordinated debentures 60,570 20,620 Total other borrowings and subordinated debentures $ 222,859 $ 135,302 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (In thousands) Year Annual 2016 $ 65,926 2017 14,798 2018 26,016 2019 7,645 2020 36,381 Thereafter 72,093 Total $ 222,859 |
Note 12 - Transactions With R40
Note 12 - Transactions With Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | (In thousands) 2015 2014 Balance, beginning of year $ 25,142 $ 42,018 New extensions of credit 48,529 5,554 Repayments (15,267 ) (22,430 ) Balance, end of year $ 58,404 $ 25,142 |
Note 13 - Employee Benefit Pl41
Note 13 - Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock Options Non-Vested Stock Number Weighted Number Weighted Balance, December 31, 2012 218 $ 26.77 134 $ 25.89 Granted -- -- 75 26.89 Stock Options Exercised (24 ) 24.88 -- -- Stock Awards Vested -- -- (63 ) 26.82 Forfeited/Expired (9 ) 26.16 (1 ) 26.54 Balance, December 31, 2013 185 27.04 145 26.00 Granted -- -- 134 37.51 Stock Options Exercised (65 ) 25.86 -- -- Stock Awards Vested -- -- (51 ) 30.62 Forfeited/Expired -- -- (1 ) 26.54 Balance, December 31, 2014 120 27.72 227 31.88 Granted 375 44.69 95 43.45 Stock Options Exercised (71 ) 22.57 -- -- Stock Options from Acquisitions 66 20.43 -- -- Stock Awards Vested -- -- (131 ) 34.77 Forfeited/Expired (5 ) 24.49 (8 ) 35.36 Balance, December 31, 2015 485 $ 40.59 183 $ 35.65 Exercisable, December 31, 2015 238 $ 36.90 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Range of Exercise Prices Number Weighted Weighted Number Weighted $15.55 - $21.29 24 4.86 $ 19.41 13 $ 18.53 21.51 - 21.51 2 4.05 21.51 2 21.51 26.19 - 26.19 25 0.38 26.19 25 26.19 28.42 - 28.42 27 1.36 28.42 27 28.42 30.31 - 30.31 30 2.27 30.31 30 30.31 40.57 - 40.57 49 7.63 40.57 49 40.57 40.72 - 40.72 2 8.88 40.72 -- 40.72 44.40 - 44.40 65 7.55 44.40 14 44.40 45.50 - 45.50 258 9.05 45.50 77 45.50 48.13 - 48.13 3 9.71 48.13 1 48.13 $15.55 - $48.13 485 7.19 $ 40.59 238 $ 36.90 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | Year Ended December 31, 2015 Expected dividend yield 2.06 % Expected stock price volatility 16.96 % Risk-free interest rate 2.17 % Expected life of options (years) 10 |
Note 14 - Additional Cash Flo42
Note 14 - Additional Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | (In thousands) 2015 2014 2013 Interest paid $ 21,700 $ 14,274 $ 11,908 Income taxes paid 20,127 18,832 14,867 Transfers of loans not covered by FDIC loss share to foreclosed assets held for sale 16,456 5,145 7,358 Transfers of loans acquired covered by FDIC loss share to foreclosed assets covered by FDIC loss share 4,349 5,536 9,239 Transfers of foreclosed assets covered by FDIC loss share to foreclosed assets held for sale 13,895 -- -- Transfers of loans acquired covered by FDIC loss share to loans acquired not covered by FDIC loss share 88,922 -- -- Transfers of premises held for sale to foreclosed assets held for sale 6,126 -- -- |
Schedule of Cash Flow Information Related to Business Acquisition [Table Text Block] | (In thousands) 2015 2014 2013 Assets acquired $ 2,995,359 $ 417,386 $ 919,340 Liabilities assumed 2,679,947 378,967 883,664 Purchase price 535,003 67,441 53,600 Goodwill $ 219,591 $ 29,022 $ 17,924 |
Note 15 - Other Operating Exp43
Note 15 - Other Operating Expenses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | (In thousands) 2015 2014 2013 Professional services $ 9,583 $ 7,516 $ 4,473 Postage 4,219 3,383 2,531 Telephone 4,817 2,957 2,323 Credit card expense 9,157 8,699 6,869 Operating supplies 2,395 1,964 1,511 Amortization of intangibles 4,889 1,979 600 Branch right sizing expense 3,297 4,721 641 Other expense 26,338 17,803 13,934 Total $ 64,695 $ 49,022 $ 32,882 |
Note 16 - Disclosures About F44
Note 16 - Disclosures About Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements (In thousands) Fair Value Quoted Prices in Significant Other Significant December 31, 2015 ASSETS Available-for-sale securities U.S. Treasury $ 3,994 $ 3,994 $ -- $ -- U.S. Government agencies 120,237 -- 120,237 -- Mortgage-backed securities 647,426 -- 647,426 -- States and political subdivisions 9,874 -- 9,874 -- Other securities 39,876 -- 39,876 -- Assets held in trading accounts 4,422 2,409 2,013 -- December 31, 2014 ASSETS Available-for-sale securities U.S. Treasury $ 3,992 3,992 $ -- $ U.S. Government agencies 272,816 -- 272,816 -- Mortgage-backed securities 1,572 -- 1,572 -- States and political subdivisions 6,540 -- 6,540 -- Other securities 20,363 -- 20,363 -- Assets held in trading accounts 6,987 3,320 3,667 -- |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Significant Other Significant December 31, 2015 Impaired loans (1) (2) $ 19,027 $ -- $ -- $ 19,027 Foreclosed assets held for sale (1) 14,459 -- -- 14,459 December 31, 2014 Impaired loans (1) (2) $ 12,276 $ -- $ -- $ 12,276 Foreclosed assets held for sale (1) 3,417 -- -- 3,417 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Value Measurements (In thousands) Amount Level 1 Level 2 Level 3 Total December 31, 2015 Financial assets: Cash and cash equivalents $ 252,262 $ 252,262 $ -- $ -- $ 252,262 Interest bearing balances due from banks - time 14,107 -- 14,105 -- 14,105 Held-to-maturity securities 705,373 -- 713,371 -- 713,371 Mortgage loans held for sale 30,265 -- -- 30,265 30,265 Interest receivable 25,793 -- 25,793 -- 25,793 Legacy loans (net of allowance) 3,215,103 -- -- 3,204,153 3,204,153 Loans acquired (net of allowance) 1,672,901 -- -- 1,667,204 1,667,204 Financial liabilities: Non-interest bearing transaction accounts 1,280,234 -- 1,280,234 -- 1,280,234 Interest bearing transaction accounts and savings deposits 3,485,845 -- 3,485,845 -- 3,485,845 Time deposits 1,320,017 -- -- 1,315,254 1,315,254 Federal funds purchased and securities sold under agreements to repurchase 99,398 -- 99,398 -- 99,398 Other borrowings 162,289 -- 168,254 -- 168,254 Subordinated debentures 60,570 -- 55,954 -- 55,954 Interest payable 1,800 -- 1,800 -- 1,800 December 31, 2014 Financial assets Cash and cash equivalents $ 335,909 $ 335,909 $ -- $ -- $ 335,909 Held-to-maturity securities 777,587 -- 780,533 -- 780,533 Mortgage loans held for sale 21,265 -- -- 21,265 21,265 Interest receivable 16,774 -- 16,774 -- 16,774 Legacy loans (net of allowance) 2,024,693 -- -- 2,022,889 2,022,889 Loans acquired, not covered by FDIC loss share 575,980 -- -- 560,651 560,651 Loans acquired, covered by FDIC loss share (net of allowance) 106,933 -- -- 105,789 105,789 FDIC indemnification asset 22,663 -- -- 22,663 22,663 Financial liabilities: Non-interest bearing transaction accounts 889,260 -- 889,260 -- 889,260 Interest bearing transaction accounts and savings deposits 2,006,271 -- 2,006,271 -- 2,006,271 Time deposits 965,187 -- -- 967,900 967,900 Federal funds purchased and securities sold under agreements to repurchase 110,586 -- 110,586 -- 110,586 Other borrowings 114,682 -- 114,698 -- 114,698 Subordinated debentures 20,620 -- 16,115 -- 16,115 Interest payable 1,147 -- 1,147 -- 1,147 |
Note 20 - Stockholders' Equity
Note 20 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum To Be Well (In thousands) Amount Ratio (%) Amount Ratio-% Amount Ratio (%) As of December 31, 2015 Total Risk-Based Capital Ratio Simmons First National Corporation $ 843,227 16.7 $ 403,941 8.0 $ N/A Simmons First National Bank 734,170 14.6 402,285 8.0 502,856 10.0 Tier 1 Risk-Based Capital Ratio Simmons First National Corporation 808,159 16.0 303,060 6.0 N/A Simmons First National Bank 699,102 13.9 301,771 6.0 402,361 8.0 Common Equity Tier 1 Capital Ratio Simmons First National Corporation 716,737 14.2 227,135 4.5 N/A Simmons First National Bank 699,102 13.9 226,328 4.5 326,918 6.5 Tier 1 Leverage Ratio Simmons First National Corporation 808,159 11.2 288,628 4.0 N/A Simmons First National Bank 699,102 9.7 288,289 4.0 360,362 5.0 As of December 31, 2014 Total Risk-Based Capital Ratio Simmons First National Corporation $ 435,185 14.5 $ 240,102 8.0 $ N/A Simmons First National Bank 432,590 14.5 238,670 8.0 298,338 10.0 Tier 1 Risk-Based Capital Ratio Simmons First National Corporation 403,110 13.4 120,331 4.0 N/A Simmons First National Bank 405,834 13.6 119,363 4.0 179,044 6.0 Tier 1 Leverage Ratio Simmons First National Corporation 403,110 8.8 183,232 4.0 N/A Simmons First National Bank 405,834 8.9 182,397 4.0 227,997 5.0 |
Note 22 - Condensed Financial46
Note 22 - Condensed Financial Information (Parent Company Only) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | (In thousands) 2015 2014 ASSETS Cash and cash equivalents $ 119,383 $ 17,537 Investment securities 2,049 1,660 Investments in wholly-owned subsidiaries 1,051,842 522,841 Intangible assets, net 133 133 Premises and equipment 5,338 5,711 Other assets 28,245 14,301 TOTAL ASSETS $ 1,206,990 $ 562,183 LIABILITIES Long-term debt $ 112,870 $ 63,720 Other liabilities 17,265 4,144 Total liabilities 130,135 67,864 STOCKHOLDERS’ EQUITY Preferred stock 30,852 -- Common stock 303 181 Surplus 662,378 156,568 Undivided profits 385,987 338,906 Accumulated other comprehensive loss Unrealized depreciation on available-for-sale securities, net of income taxes of ($1,720) and ($862) at December 31, 2015 and 2014 respectively (2,665 ) (1,336 ) Total stockholders’ equity 1,076,855 494,319 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 1,206,990 $ 562,183 |
Condensed Income Statement [Table Text Block] | (In thousands) 2015 2014 2013 INCOME Dividends from subsidiaries $ 84,128 $ 43,366 $ 23,051 Other income 2,303 6,927 8,409 Income 86,431 50,293 31,460 EXPENSE 24,594 23,024 17,839 Income before income taxes and equity in undistributed net income of subsidiaries 61,837 27,269 13,621 Provision for income taxes (8,251 ) (6,330 ) (3,510 ) Income before equity in undistributed net income of subsidiaries 70,088 33,599 17,131 Equity in undistributed net income of subsidiaries 4,276 2,089 6,100 NET INCOME 74,364 35,688 23,231 Preferred stock dividends 257 -- -- NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 74,107 $ 35,688 $ 23,231 |
Comprehensive Income (Loss) [Table Text Block] | (In thousands) 2015 2014 2013 NET INCOME $ 74,364 $ 35,688 $ 23,231 OTHER COMPREHENSIVE INCOME Equity in other comprehensive (loss) income of subsidiaries (1,329 ) 1,666 (3,259 ) COMPREHENSIVE INCOME $ 73,035 $ 37,354 $ 19,972 |
Condensed Cash Flow Statement [Table Text Block] | (In thousands) 2015 2014 2013 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 74,364 $ 35,688 $ 23,231 Items not requiring (providing) cash Stock-based compensation expense 4,018 1,423 1,417 Depreciation and amortization 317 139 145 Deferred income taxes 1,287 1,338 81 Equity in undistributed net income of bank subsidiaries (4,276 ) (2,089 ) (6,100 ) Changes in Other assets (15,232 ) (1,296 ) 19,978 Other liabilities 13,121 (1,103 ) 1,891 Net cash provided by operating activities 73,599 34,100 40,643 CASH FLOWS FROM INVESTING ACTIVITIES Net purchases of premises and equipment 56 (5,435 ) (174 ) Additional investment in subsidiary -- 288 (27,400 ) Purchases of available-for-sale securities (354 ) 1,504 (1 ) Cash received (paid) in business combinations 44,173 (1,640 ) (53,600 ) Net cash provided by (used in) investing activities 43,875 (5,283 ) (81,175 ) CASH FLOWS FROM FINANCING ACTIVITIES Issuance (repayment) of long-term debt 8,126 (2,900 ) 46,000 Issuance of common stock, net 3,529 2,023 936 Payment to repurchase common stock -- -- (10,848 ) Dividends paid on preferred stock (257 ) -- -- Dividends paid on common stock (27,026 ) (15,359 ) (13,707 ) Net cash used in financing activities (15,628 ) (16,236 ) 22,381 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 101,846 12,581 (18,151 ) CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 17,537 4,956 23,107 CASH AND CASH EQUIVALENTS, END OF YEAR $ 119,383 $ 17,537 $ 4,956 |
Note 1 - Summary of Significa47
Note 1 - Summary of Significant Accounting Policies (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2013 | Dec. 31, 2014 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
FDIC Indemnification Asset, Cash Payments Received | $ 2,368,000 | ||
Gain (Loss) on Contract Termination | (7,476,000) | ||
Derivative Asset, Notional Amount | $ 61,300,000 | $ 14,600,000 | |
Employee Stock Option [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) | 84,780 | ||
Community First Bancshares Inc [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 30,852 |
Note 1 - Summary of Significa48
Note 1 - Summary of Significant Accounting Policies (Details) - Earnings Per Share - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share [Abstract] | |||
Net income available to common shareholders (in Dollars) | $ 74,107 | $ 35,688 | $ 23,231 |
Average common shares outstanding | 28,084 | 16,879 | 16,339 |
Average potential dilutive common shares | 126 | 43 | 13 |
Average diluted common shares | 28,210 | 16,922 | 16,352 |
Basic earnings per share (in Dollars per share) | $ 2.64 | $ 2.11 | $ 1.42 |
Diluted earnings per share (in Dollars per share) | $ 2.63 | $ 2.11 | $ 1.42 |
Note 2 - Acquisitions (Details)
Note 2 - Acquisitions (Details) | Oct. 29, 2015USD ($)shares | Feb. 27, 2015USD ($)shares | Aug. 31, 2014USD ($)shares | Nov. 25, 2013USD ($) | Feb. 28, 2015shares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Deposits | $ 6,086,096,000 | $ 3,860,718,000 | |||||
Goodwill | 327,686,000 | 108,095,000 | |||||
Time Deposits | 1,320,017,000 | $ 965,187,000 | |||||
Metropolitan [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Operating Loss Carryforwards | $ 72,800,000 | ||||||
Liberty Bancshares, Inc. [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares | 5,181,337 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 212,200,000 | ||||||
Number of Bank Branches | 24 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 1,066,272,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | 780,658,000 | ||||||
Deposits | 874,700,000 | ||||||
Goodwill | $ 95,207,000 | ||||||
Business Combination, Percentage of Fair Value Adjustment, Deferred Tax Asset | 39.225% | ||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 46,000,000 | ||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 24,200,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | $ 98,788,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 31,024,000 | ||||||
Liberty Bancshares, Inc. [Member] | Fair Value Adjustments [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 4,705,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | (9,835,000) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | (335,000) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ (3,215,000) | ||||||
Community First Bancshares, Inc. [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares | 6,552,915 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 268,300,000 | ||||||
Number of Bank Branches | 33 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | $ 1,100,000,000 | ||||||
Deposits | 1,500,000,000 | ||||||
Goodwill | $ 110,400,000 | ||||||
Business Combination, Percentage of Fair Value Adjustment, Deferred Tax Asset | 39.225% | ||||||
Payments to Acquire Businesses, Gross | $ 9,974 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Net | 1,900,000,000 | ||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 77,300,000 | ||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 33,300,000 | ||||||
Community First Bancshares, Inc. [Member] | Preferred Stock [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 30,900,000 | ||||||
Liberty and Community First [Member] | Pro Forma [Member] | Acquisition-related Costs Excluded [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Revenues | $ 7,400,000 | ||||||
OTIC and TCO [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares | 339,290 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 17,900,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 14,026,000 | ||||||
Goodwill | $ 13,944,000 | ||||||
Business Combination, Percentage of Fair Value Adjustment, Deferred Tax Asset | 39.225% | ||||||
Payments to Acquire Businesses, Gross | $ 5,800,000 | ||||||
Business Combination Recognized Identifiable or Assummed Assets Under Management | 1,000,000,000 | ||||||
Number of Investment in Shares, Repurchased Through Acquisition (in Shares) | shares | 1,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 241,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 1,544,000 | ||||||
OTIC and TCO [Member] | Fair Value Adjustments [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 10,151,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 0 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 418,000 | ||||||
Delta Trust [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares | 1,629,515 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 65,000,000 | ||||||
Number of Bank Branches | 9 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 417,386,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | 311,680,000 | ||||||
Deposits | 355,000,000 | ||||||
Goodwill | $ 29,022,000 | ||||||
Business Combination, Percentage of Fair Value Adjustment, Deferred Tax Asset | 39.225% | ||||||
Payments to Acquire Businesses, Gross | $ 2,400,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 312,000,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 62,373,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 3,972,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent | 2,417,000 | ||||||
Delta Trust [Member] | Fair Value Adjustments [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | (3,406,000) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | (15,149,000) | ||||||
Goodwill | (822,000) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | (37,000) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | (433,000) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent | $ 558,000 | ||||||
Metropolitan [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Number of Bank Branches | 45 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | $ 457,000,000 | ||||||
Deposits | 838,000,000 | ||||||
Goodwill | $ 17,900,000 | ||||||
Business Combination, Percentage of Fair Value Adjustment, Deferred Tax Asset | 39.225% | ||||||
Payments to Acquire Businesses, Gross | $ 53,600,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Net | 884,000,000 | ||||||
Business Combination, Acquisition Related Costs | 6,600,000 | ||||||
Operating Loss Carryforwards | 37,500,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent | 34 | ||||||
Time Deposits | 512,000 | ||||||
Metropolitan [Member] | Fair Value Adjustments [Member] | |||||||
Note 2 - Acquisitions (Details) [Line Items] | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | (2,300,000) | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ (22,600,000) |
Note 2 - Acquisitions (Detail50
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed - USD ($) $ in Thousands | Oct. 29, 2015 | Feb. 27, 2015 | Aug. 31, 2014 | Nov. 25, 2013 | Dec. 31, 2015 | Dec. 31, 2014 |
Deposits: | ||||||
Goodwill | $ 327,686 | $ 108,095 | ||||
Liberty Bancshares, Inc. [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks, including time deposits | $ 102,623 | |||||
Federal funds sold | 7,060 | |||||
Investment securities | 98,788 | |||||
Loans acquired, not covered by FDIC loss share | 780,658 | |||||
Allowance for loan losses | 0 | |||||
Premises and equipment | 31,024 | |||||
Bank owned life insurance | 16,972 | |||||
Core deposit intangible | 14,556 | |||||
Other intangibles | 0 | |||||
Other assets | 14,591 | |||||
Total assets acquired | 1,066,272 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 146,618 | |||||
Interest bearing transaction accounts and savings deposits | 543,183 | |||||
Time deposits | 184,913 | |||||
Total deposits | 874,714 | |||||
FHLB borrowings | 46,351 | |||||
Subordinated debentures | 20,110 | |||||
Accrued interest and other liabilities | 8,128 | |||||
Total liabilities assumed | 949,303 | |||||
Equity | 0 | |||||
Total liabilities and equity assumed | 949,303 | |||||
Net assets acquired | 116,969 | |||||
Purchase price | 212,176 | |||||
Goodwill | 95,207 | |||||
Liberty Bancshares, Inc. [Member] | Cost Acquired [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks, including time deposits | 102,637 | |||||
Federal funds sold | 7,060 | |||||
Investment securities | 99,123 | |||||
Loans acquired, not covered by FDIC loss share | 790,493 | |||||
Allowance for loan losses | (10,422) | |||||
Premises and equipment | 34,239 | |||||
Bank owned life insurance | 16,972 | |||||
Core deposit intangible | 699 | |||||
Other intangibles | 3,063 | |||||
Other assets | 17,703 | |||||
Total assets acquired | 1,061,567 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 146,618 | |||||
Interest bearing transaction accounts and savings deposits | 543,183 | |||||
Time deposits | 184,913 | |||||
Total deposits | 874,714 | |||||
FHLB borrowings | 46,128 | |||||
Subordinated debentures | 20,620 | |||||
Accrued interest and other liabilities | 7,828 | |||||
Total liabilities assumed | 949,290 | |||||
Equity | 112,277 | |||||
Total liabilities and equity assumed | 1,061,567 | |||||
Liberty Bancshares, Inc. [Member] | Fair Value Adjustments [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks, including time deposits | (14) | |||||
Federal funds sold | 0 | |||||
Investment securities | (335) | |||||
Loans acquired, not covered by FDIC loss share | (9,835) | |||||
Allowance for loan losses | 10,422 | |||||
Premises and equipment | (3,215) | |||||
Bank owned life insurance | 0 | |||||
Core deposit intangible | 13,857 | |||||
Other intangibles | (3,063) | |||||
Other assets | (3,112) | |||||
Total assets acquired | 4,705 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 0 | |||||
Interest bearing transaction accounts and savings deposits | 0 | |||||
Time deposits | 0 | |||||
Total deposits | 0 | |||||
FHLB borrowings | 223 | |||||
Subordinated debentures | (510) | |||||
Accrued interest and other liabilities | 300 | |||||
Total liabilities assumed | 13 | |||||
Equity | (112,277) | |||||
Total liabilities and equity assumed | (112,264) | |||||
Community First Bancshares Inc [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 39,848 | |||||
Federal funds sold | 76,508 | |||||
Investment securities | 566,818 | |||||
Loans acquired, not covered by FDIC loss share | 1,136,543 | |||||
Allowance for loan losses | 0 | |||||
Foreclosed assets not covered by FDIC loss share | 747 | |||||
Premises and equipment | 42,043 | |||||
Bank owned life insurance | 22,149 | |||||
Core deposit intangible | 11,273 | |||||
Other intangibles | 420 | |||||
Deferred tax asset | 7,238 | |||||
Other assets | 11,474 | |||||
Total assets acquired | 1,915,061 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 103,825 | |||||
Interest bearing transaction accounts and savings deposits | 995,207 | |||||
Time deposits | 437,030 | |||||
Total deposits | 1,536,062 | |||||
Fed funds purchased and other borrowings | 16,230 | |||||
FHLB borrowings | 143,721 | |||||
Subordinated debentures | 20,914 | |||||
Accrued interest and other liabilities | 9,370 | |||||
Total liabilities assumed | 1,726,297 | |||||
Equity | 0 | |||||
Total liabilities and equity assumed | 1,726,297 | |||||
Net assets acquired | 188,764 | |||||
Purchase price | 299,204 | |||||
Goodwill | 110,440 | |||||
Community First Bancshares Inc [Member] | Cost Acquired [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 39,848 | |||||
Federal funds sold | 76,508 | |||||
Investment securities | 570,199 | |||||
Loans acquired, not covered by FDIC loss share | 1,163,398 | |||||
Allowance for loan losses | (14,635) | |||||
Foreclosed assets not covered by FDIC loss share | 747 | |||||
Premises and equipment | 44,837 | |||||
Bank owned life insurance | 22,149 | |||||
Core deposit intangible | 0 | |||||
Other intangibles | 0 | |||||
Deferred tax asset | 3,700 | |||||
Other assets | 11,474 | |||||
Total assets acquired | 1,918,325 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 103,825 | |||||
Interest bearing transaction accounts and savings deposits | 995,207 | |||||
Time deposits | 436,181 | |||||
Total deposits | 1,535,213 | |||||
Fed funds purchased and other borrowings | 16,230 | |||||
FHLB borrowings | 143,047 | |||||
Subordinated debentures | 21,754 | |||||
Accrued interest and other liabilities | 8,769 | |||||
Total liabilities assumed | 1,725,013 | |||||
Equity | 193,312 | |||||
Total liabilities and equity assumed | 1,918,325 | |||||
Goodwill | 100 | |||||
Community First Bancshares Inc [Member] | Fair Value Adjustments [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 0 | |||||
Federal funds sold | 0 | |||||
Investment securities | (3,381) | |||||
Loans acquired, not covered by FDIC loss share | (26,855) | |||||
Allowance for loan losses | 14,635 | |||||
Foreclosed assets not covered by FDIC loss share | 0 | |||||
Premises and equipment | (2,794) | |||||
Bank owned life insurance | 0 | |||||
Core deposit intangible | 11,273 | |||||
Other intangibles | 420 | |||||
Deferred tax asset | 3,538 | |||||
Other assets | 0 | |||||
Total assets acquired | (3,264) | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 0 | |||||
Interest bearing transaction accounts and savings deposits | 0 | |||||
Time deposits | 849 | |||||
Total deposits | 849 | |||||
Fed funds purchased and other borrowings | 0 | |||||
FHLB borrowings | 674 | |||||
Subordinated debentures | (840) | |||||
Accrued interest and other liabilities | 601 | |||||
Total liabilities assumed | 1,284 | |||||
Equity | (193,312) | |||||
Total liabilities and equity assumed | (192,028) | |||||
Goodwill | $ (100) | |||||
OTIC and TCO [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | $ 1,756 | |||||
Investment securities | 241 | |||||
Premises and equipment | 1,544 | |||||
Other intangibles | 9,733 | |||||
Other assets | 752 | |||||
Total assets acquired | 14,026 | |||||
Deposits: | ||||||
Deferred tax liability | 4,045 | |||||
Accrued interest and other liabilities | 302 | |||||
Total liabilities assumed | 4,347 | |||||
Equity | 0 | |||||
Total liabilities and equity assumed | 4,347 | |||||
Net assets acquired | 9,679 | |||||
Purchase price | 23,623 | |||||
Goodwill | 13,944 | |||||
OTIC and TCO [Member] | Cost Acquired [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 1,756 | |||||
Investment securities | 241 | |||||
Premises and equipment | 1,126 | |||||
Other intangibles | 0 | |||||
Other assets | 752 | |||||
Total assets acquired | 3,875 | |||||
Deposits: | ||||||
Deferred tax liability | 63 | |||||
Accrued interest and other liabilities | 302 | |||||
Total liabilities assumed | 365 | |||||
Equity | 3,510 | |||||
Total liabilities and equity assumed | 3,875 | |||||
OTIC and TCO [Member] | Fair Value Adjustments [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 0 | |||||
Investment securities | 0 | |||||
Premises and equipment | 418 | |||||
Other intangibles | 9,733 | |||||
Other assets | 0 | |||||
Total assets acquired | 10,151 | |||||
Deposits: | ||||||
Deferred tax liability | 3,982 | |||||
Accrued interest and other liabilities | 0 | |||||
Total liabilities assumed | 3,982 | |||||
Equity | (3,510) | |||||
Total liabilities and equity assumed | $ 472 | |||||
Delta Trust [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | $ 13,739 | |||||
Investment securities | 62,373 | |||||
Loans acquired, not covered by FDIC loss share | 311,680 | |||||
Allowance for loan losses | 0 | |||||
Foreclosed assets not covered by FDIC loss share | 1,791 | |||||
Premises and equipment | 3,972 | |||||
Bank owned life insurance | 7,530 | |||||
Core deposit intangible | 4,318 | |||||
Other intangibles | 5,140 | |||||
Deferred tax asset | 2,417 | |||||
Other assets | 4,426 | |||||
Total assets acquired | 417,386 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 63,259 | |||||
Interest bearing transaction accounts and savings deposits | 200,596 | |||||
Time deposits | 91,507 | |||||
Total deposits | 355,362 | |||||
Fed funds purchased and other borrowings | 11,100 | |||||
Other borrowings | 10,977 | |||||
Accrued interest and other liabilities | 1,528 | |||||
Total liabilities assumed | 378,967 | |||||
Equity | 0 | |||||
Total liabilities and equity assumed | 378,967 | |||||
Net assets acquired | 38,419 | |||||
Purchase price | 67,441 | |||||
Goodwill | 29,022 | |||||
Delta Trust [Member] | Cost Acquired [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 13,739 | |||||
Investment securities | 62,410 | |||||
Loans acquired, not covered by FDIC loss share | 326,829 | |||||
Allowance for loan losses | (6,008) | |||||
Foreclosed assets not covered by FDIC loss share | 3,262 | |||||
Premises and equipment | 4,405 | |||||
Bank owned life insurance | 7,530 | |||||
Core deposit intangible | 0 | |||||
Other intangibles | 137 | |||||
Deferred tax asset | 1,859 | |||||
Other assets | 5,807 | |||||
Total assets acquired | 420,792 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 63,259 | |||||
Interest bearing transaction accounts and savings deposits | 200,596 | |||||
Time deposits | 91,507 | |||||
Total deposits | 355,362 | |||||
Fed funds purchased and other borrowings | 11,100 | |||||
Other borrowings | 11,106 | |||||
Accrued interest and other liabilities | 1,528 | |||||
Total liabilities assumed | 379,096 | |||||
Equity | 41,696 | |||||
Total liabilities and equity assumed | 420,792 | |||||
Goodwill | 822 | |||||
Delta Trust [Member] | Fair Value Adjustments [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 0 | |||||
Investment securities | (37) | |||||
Loans acquired, not covered by FDIC loss share | (15,149) | |||||
Allowance for loan losses | 6,008 | |||||
Foreclosed assets not covered by FDIC loss share | (1,471) | |||||
Premises and equipment | (433) | |||||
Bank owned life insurance | 0 | |||||
Core deposit intangible | 4,318 | |||||
Other intangibles | 5,003 | |||||
Deferred tax asset | 558 | |||||
Other assets | (1,381) | |||||
Total assets acquired | (3,406) | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 0 | |||||
Interest bearing transaction accounts and savings deposits | 0 | |||||
Time deposits | 0 | |||||
Total deposits | 0 | |||||
Fed funds purchased and other borrowings | 0 | |||||
Other borrowings | (129) | |||||
Accrued interest and other liabilities | 0 | |||||
Total liabilities assumed | (129) | |||||
Equity | (41,696) | |||||
Total liabilities and equity assumed | (41,825) | |||||
Goodwill | $ (822) | |||||
RBI [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | $ 12,026 | |||||
Interest bearing balances due from banks | 77,059 | |||||
Investment securities | 232,901 | |||||
Loans acquired, not covered by FDIC loss share | 457,372 | |||||
Allowance for loan losses | 0 | |||||
Foreclosed assets not covered by FDIC loss share | 42,942 | |||||
Premises and equipment | 52,178 | |||||
Core deposit intangible | 9,844 | |||||
Deferred tax asset | 30,699 | |||||
Other assets | 4,319 | |||||
Total assets acquired | 919,340 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 150,259 | |||||
Interest bearing transaction accounts and savings deposits | 341,410 | |||||
Time deposits | 345,838 | |||||
Total deposits | 837,507 | |||||
Fed funds purchased and other borrowings | 36,637 | |||||
Accrued interest and other liabilities | 9,520 | |||||
Total liabilities assumed | 883,664 | |||||
Equity | 0 | |||||
Total liabilities and equity assumed | 883,664 | |||||
Net assets acquired | 35,676 | |||||
Purchase price | 53,600 | |||||
Goodwill | 17,924 | |||||
RBI [Member] | Cost Acquired [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 12,026 | |||||
Interest bearing balances due from banks | 77,059 | |||||
Investment securities | 235,160 | |||||
Loans acquired, not covered by FDIC loss share | 494,839 | |||||
Allowance for loan losses | (19,025) | |||||
Foreclosed assets not covered by FDIC loss share | 64,397 | |||||
Premises and equipment | 74,753 | |||||
Core deposit intangible | 0 | |||||
Deferred tax asset | 0 | |||||
Other assets | 5,646 | |||||
Total assets acquired | 944,855 | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 150,259 | |||||
Interest bearing transaction accounts and savings deposits | 341,410 | |||||
Time deposits | 345,326 | |||||
Total deposits | 836,995 | |||||
Fed funds purchased and other borrowings | 36,637 | |||||
Accrued interest and other liabilities | 9,443 | |||||
Total liabilities assumed | 883,075 | |||||
Equity | 61,780 | |||||
Total liabilities and equity assumed | 944,855 | |||||
RBI [Member] | Fair Value Adjustments [Member] | ||||||
Note 2 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||||||
Cash and due from banks | 0 | |||||
Interest bearing balances due from banks | 0 | |||||
Investment securities | (2,259) | |||||
Loans acquired, not covered by FDIC loss share | (37,467) | |||||
Allowance for loan losses | 19,025 | |||||
Foreclosed assets not covered by FDIC loss share | (21,455) | |||||
Premises and equipment | (22,575) | |||||
Core deposit intangible | 9,844 | |||||
Deferred tax asset | 30,699 | |||||
Other assets | (1,327) | |||||
Total assets acquired | (25,515) | |||||
Deposits: | ||||||
Non-interest bearing transaction accounts | 0 | |||||
Interest bearing transaction accounts and savings deposits | 0 | |||||
Time deposits | 512 | |||||
Total deposits | 512 | |||||
Fed funds purchased and other borrowings | 0 | |||||
Accrued interest and other liabilities | 77 | |||||
Total liabilities assumed | 589 | |||||
Equity | (61,780) | |||||
Total liabilities and equity assumed | $ (61,191) |
Note 2 - Acquisitions (Detail51
Note 2 - Acquisitions (Details) - Pro Forma Information - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Pro Forma Information [Abstract] | |||
Revenue (1) | [1] | $ 395,959 | $ 390,606 |
Net income | $ 85,773 | $ 64,166 | |
Earnings per share (in Dollars per share) | $ 2.68 | $ 2.24 | |
[1] | Net interest income plus noninterest income. |
Note 3 - Investment Securitie52
Note 3 - Investment Securities (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 3 - Investment Securities (Details) [Line Items] | |||
Securities Continuous Unrealized Loss Position Fair Value | $ 872,400,000 | $ 680,500,000 | |
Securities Continuous Unrealized Loss Position Fair Value Percent of Portfolio | 57.10% | 62.80% | |
Available-for-sale Securities Pledged as Collateral | $ 840,400,000 | $ 520,400,000 | |
Securities Sold under Agreements to Repurchase | 96,800,000 | 100,800,000 | |
Available-for-sale Securities, Gross Realized Gains | 350,000 | 199,000 | $ 151,000 |
Available-for-sale Securities, Gross Realized Losses | $ 43,000 | $ 191,000 | 302,000 |
Income Tax Benefit Related to Security Gains Losses Percentage | 39.225% | ||
Liquidation of the Acquired Investment Portfolio from SSB [Member] | |||
Note 3 - Investment Securities (Details) [Line Items] | |||
Marketable Securities, Realized Gain (Loss) | $ (193,000) |
Note 3 - Investment Securitie53
Note 3 - Investment Securities (Details) - Investment Securities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Held-to-Maturity | ||
Held-to-maturity, amortized cost | $ 705,373 | $ 777,587 |
Held-to-maturity, gross unrealized gains | 9,806 | 7,985 |
Held-to-maturity, gross unrealized losses | (1,808) | (5,039) |
Held-to-maturity, estimated fair value | 713,371 | 780,533 |
Available-for-Sale | ||
Available-for-sale, amortized cost | 825,792 | 307,481 |
Available-for-sale, gross unrealized gains | 1,587 | 409 |
Available-for-sale, gross unrealized losses | (5,972) | (2,607) |
Available-for-sale, estimated fair value | 821,407 | 305,283 |
US Government Agencies Debt Securities [Member] | ||
Held-to-Maturity | ||
Held-to-maturity, amortized cost | 237,139 | 418,914 |
Held-to-maturity, gross unrealized gains | 582 | 929 |
Held-to-maturity, gross unrealized losses | (1,395) | (4,055) |
Held-to-maturity, estimated fair value | 236,326 | 415,788 |
Available-for-Sale | ||
Available-for-sale, amortized cost | 121,017 | 275,381 |
Available-for-sale, gross unrealized gains | 118 | 15 |
Available-for-sale, gross unrealized losses | (898) | (2,580) |
Available-for-sale, estimated fair value | 120,237 | 272,816 |
Collateralized Mortgage Backed Securities [Member] | ||
Held-to-Maturity | ||
Held-to-maturity, amortized cost | 24,774 | 29,743 |
Held-to-maturity, gross unrealized gains | 86 | 56 |
Held-to-maturity, gross unrealized losses | (290) | (411) |
Held-to-maturity, estimated fair value | 24,570 | 29,388 |
Available-for-Sale | ||
Available-for-sale, amortized cost | 650,619 | 1,579 |
Available-for-sale, gross unrealized gains | 937 | 0 |
Available-for-sale, gross unrealized losses | (4,130) | (7) |
Available-for-sale, estimated fair value | 647,426 | 1,572 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held-to-Maturity | ||
Held-to-maturity, amortized cost | 440,676 | 328,310 |
Held-to-maturity, gross unrealized gains | 9,138 | 7,000 |
Held-to-maturity, gross unrealized losses | (123) | (573) |
Held-to-maturity, estimated fair value | 449,691 | 334,737 |
Available-for-Sale | ||
Available-for-sale, amortized cost | 9,762 | 6,536 |
Available-for-sale, gross unrealized gains | 112 | 7 |
Available-for-sale, gross unrealized losses | 0 | (3) |
Available-for-sale, estimated fair value | 9,874 | 6,540 |
Other Securities [Member] | ||
Held-to-Maturity | ||
Held-to-maturity, amortized cost | 2,784 | 620 |
Held-to-maturity, gross unrealized gains | 0 | 0 |
Held-to-maturity, gross unrealized losses | 0 | 0 |
Held-to-maturity, estimated fair value | 2,784 | 620 |
Available-for-Sale | ||
Available-for-sale, amortized cost | 40,394 | 19,985 |
Available-for-sale, gross unrealized gains | 420 | 386 |
Available-for-sale, gross unrealized losses | (938) | (8) |
Available-for-sale, estimated fair value | 39,876 | 20,363 |
US Treasury Securities [Member] | ||
Available-for-Sale | ||
Available-for-sale, amortized cost | 4,000 | 4,000 |
Available-for-sale, gross unrealized gains | 0 | 1 |
Available-for-sale, gross unrealized losses | (6) | (9) |
Available-for-sale, estimated fair value | $ 3,994 | $ 3,992 |
Note 3 - Investment Securitie54
Note 3 - Investment Securities (Details) - Securities with Unrealized Losses - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Held-to-Maturity | ||
Held-to-maturity, less than 12 months, estimated fair value | $ 143,582 | $ 333,275 |
Held-to-maturity, less than 12 months, gross unrealized losses | 761 | 3,011 |
Held-to-maturity, 12 months or more, estimated fair value | 91,256 | 107,624 |
Held-to-maturity, 12 months or more, gross unrealized losses | 1,047 | 2,028 |
Held-to-maturity, total, estimated fair value | 234,838 | 440,899 |
Held-to-maturity, total, gross unrealized losses | 1,808 | 5,039 |
Available-for-Sale | ||
Available-for-sale, less than 12 months, estimated fair value | 590,993 | 178,417 |
Available-for-sale, less than 12 months, gross unrealized losses | 5,390 | 1,499 |
Available-for-sale, 12 months or more, estimated fair value | 46,533 | 61,195 |
Available-for-sale, 12 months or more, gross unrealized losses | 582 | 1,108 |
Available-for-sale, total, estimated fair value | 637,526 | 239,612 |
Available-for-sale, total, gross unrealized losses | 5,972 | 2,607 |
US Government Agencies Debt Securities [Member] | ||
Held-to-Maturity | ||
Held-to-maturity, less than 12 months, estimated fair value | 107,758 | 265,591 |
Held-to-maturity, less than 12 months, gross unrealized losses | 567 | 2,500 |
Held-to-maturity, 12 months or more, estimated fair value | 79,166 | 84,398 |
Held-to-maturity, 12 months or more, gross unrealized losses | 828 | 1,555 |
Held-to-maturity, total, estimated fair value | 186,924 | 349,989 |
Held-to-maturity, total, gross unrealized losses | 1,395 | 4,055 |
Available-for-Sale | ||
Available-for-sale, less than 12 months, estimated fair value | 62,473 | 171,114 |
Available-for-sale, less than 12 months, gross unrealized losses | 317 | 1,472 |
Available-for-sale, 12 months or more, estimated fair value | 46,023 | 61,195 |
Available-for-sale, 12 months or more, gross unrealized losses | 581 | 1,108 |
Available-for-sale, total, estimated fair value | 108,496 | 232,309 |
Available-for-sale, total, gross unrealized losses | 898 | 2,580 |
Collateralized Mortgage Backed Securities [Member] | ||
Held-to-Maturity | ||
Held-to-maturity, less than 12 months, estimated fair value | 7,958 | 10,077 |
Held-to-maturity, less than 12 months, gross unrealized losses | 94 | 67 |
Held-to-maturity, 12 months or more, estimated fair value | 8,144 | 14,250 |
Held-to-maturity, 12 months or more, gross unrealized losses | 196 | 344 |
Held-to-maturity, total, estimated fair value | 16,102 | 24,327 |
Held-to-maturity, total, gross unrealized losses | 290 | 411 |
Available-for-Sale | ||
Available-for-sale, less than 12 months, estimated fair value | 523,185 | 1,542 |
Available-for-sale, less than 12 months, gross unrealized losses | 4,130 | 7 |
Available-for-sale, 12 months or more, estimated fair value | 0 | 0 |
Available-for-sale, 12 months or more, gross unrealized losses | 0 | 0 |
Available-for-sale, total, estimated fair value | 523,185 | 1,542 |
Available-for-sale, total, gross unrealized losses | 4,130 | 7 |
US States and Political Subdivisions Debt Securities [Member] | ||
Held-to-Maturity | ||
Held-to-maturity, less than 12 months, estimated fair value | 27,866 | 57,607 |
Held-to-maturity, less than 12 months, gross unrealized losses | 100 | 444 |
Held-to-maturity, 12 months or more, estimated fair value | 3,946 | 8,976 |
Held-to-maturity, 12 months or more, gross unrealized losses | 23 | 129 |
Held-to-maturity, total, estimated fair value | 31,812 | 66,583 |
Held-to-maturity, total, gross unrealized losses | 123 | 573 |
Available-for-Sale | ||
Available-for-sale, less than 12 months, estimated fair value | 281 | 1,005 |
Available-for-sale, less than 12 months, gross unrealized losses | 0 | 3 |
Available-for-sale, 12 months or more, estimated fair value | 0 | 0 |
Available-for-sale, 12 months or more, gross unrealized losses | 0 | 0 |
Available-for-sale, total, estimated fair value | 281 | 1,005 |
Available-for-sale, total, gross unrealized losses | 0 | 3 |
US Treasury Securities [Member] | ||
Available-for-Sale | ||
Available-for-sale, less than 12 months, estimated fair value | 3,994 | 3,992 |
Available-for-sale, less than 12 months, gross unrealized losses | 6 | 9 |
Available-for-sale, 12 months or more, estimated fair value | 0 | 0 |
Available-for-sale, 12 months or more, gross unrealized losses | 0 | 0 |
Available-for-sale, total, estimated fair value | 3,994 | 3,992 |
Available-for-sale, total, gross unrealized losses | 6 | 9 |
Other Securities [Member] | ||
Available-for-Sale | ||
Available-for-sale, less than 12 months, estimated fair value | 1,060 | 764 |
Available-for-sale, less than 12 months, gross unrealized losses | 937 | 8 |
Available-for-sale, 12 months or more, estimated fair value | 510 | 0 |
Available-for-sale, 12 months or more, gross unrealized losses | 1 | 0 |
Available-for-sale, total, estimated fair value | 1,570 | 764 |
Available-for-sale, total, gross unrealized losses | $ 938 | $ 8 |
Note 3 - Investment Securitie55
Note 3 - Investment Securities (Details) - Income Earned on Securities - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Non-taxable | |||
Total | $ 30,613 | $ 19,357 | $ 13,300 |
Held-to-maturity Securities [Member] | |||
Taxable | |||
Taxable | 5,162 | 5,839 | 3,314 |
Non-taxable | |||
Non taxable | 11,635 | 10,625 | 7,682 |
Available-for-sale Securities [Member] | |||
Taxable | |||
Taxable | 12,129 | 2,785 | 2,239 |
Non-taxable | |||
Non taxable | $ 1,687 | $ 108 | $ 65 |
Note 3 - Investment Securitie56
Note 3 - Investment Securities (Details) - Maturities of Investment Securities - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Maturities of Investment Securities [Abstract] | ||
One year or less | $ 28,739 | |
One year or less | 28,807 | |
One year or less | 28,543 | |
One year or less | 28,512 | |
After one through five years | 315,065 | |
After one through five years | 314,557 | |
After one through five years | 88,911 | |
After one through five years | 88,048 | |
After five through ten years | 127,795 | |
After five through ten years | 130,087 | |
After five through ten years | 13,727 | |
After five through ten years | 13,899 | |
After ten years | 209,000 | |
After ten years | 215,350 | |
After ten years | 5,363 | |
After ten years | 5,412 | |
Securities not due on a single maturity date | 24,774 | |
Securities not due on a single maturity date | 24,570 | |
Securities not due on a single maturity date | 650,619 | |
Securities not due on a single maturity date | 647,426 | |
Other securities (no maturity) | 0 | |
Other securities (no maturity) | 0 | |
Other securities (no maturity) | 38,629 | |
Other securities (no maturity) | 38,110 | |
Total | 705,373 | $ 777,587 |
Total | 713,371 | 780,533 |
Total | 825,792 | 307,481 |
Total | $ 821,407 | $ 305,283 |
Note 4 - Loans and Allowance 57
Note 4 - Loans and Allowance for Loan Losses (Details) | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | ||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Loans | $ 4,920,000,000 | $ 2,740,000,000 | ||
Impaired Financing Receivable, Recorded Investment | 18,190,000 | 14,669,000 | ||
Impaired Financing Receivable, Related Allowance | 2,831,000 | 2,075,000 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 1,200,000 | 764,000 | $ 900,000 | |
Impaired Financing Receivable, Average Recorded Investment | $ 16,675,000 | $ 17,482,000 | 21,600,000 | |
Financing Receivable, Modifications, Number of Contracts | 18 | 3 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 2,636,000 | $ 2,025,000 | ||
Mortgage Loans in Process of Foreclosure, Amount | 1,064,000 | |||
Real Estate Acquired Through Foreclosure | 44,820,000 | 44,856,000 | ||
Acquired Impaired Loans, Carrying Value | [1] | 1,672,901,000 | 682,913,000 | |
Loans And Leases Receivable Classified | 49,900,000 | 16,600,000 | ||
Covered Purchased Impaired Loans, Allowance | 954,000 | |||
Provision for Loan Losses, Net of FDIC Loss Share Adjustments | 400,000 | |||
Non-Covered Impaired Loans Allowance, Reclassified | 954,000 | |||
Provision for Loan and Lease Losses | 9,022,000 | 7,245,000 | $ 4,118,000 | |
Loans and Leases Receivable, Allowance | $ 31,351,000 | 29,028,000 | ||
Loans Acquired, Covered by FDIC Loss Share [Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Provision for Loan and Lease Losses | $ 363,000 | |||
Risk Ratings 6,7, and 8 [Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | ||
Loans And Leases Receivable Classified | $ 153,700,000 | $ 82,100,000 | ||
Liberty Community, First Metropolitan, Delta Trust Acquisitions, and Ozark[Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Acquired Impaired Loans, Carrying Value | 23,500,000 | 22,300,000 | ||
OREO Secured by Residential Real Estate Properties [Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Real Estate Acquired Through Foreclosure | 5,916,000 | |||
OREO Received in Full or Partial Satisfaction of Loans [Member] | Commerical Real Estate and Residential Real Estate [Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 167,000 | $ 4,757,000 | ||
Restructured During Current Period [Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 18 | 3 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 2,636,000 | $ 2,025,000 | ||
Allowance for Credit Losses, Change in Method of Calculating Impairment | 113,000 | |||
Restructured Loan [Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | |||
Proceeds from Collection of Loans Receivable | $ 598,000 | |||
Acquired Loans [Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Loans | 1,672,901,000 | 575,980,000 | ||
Non-Covered Impaired Loans Allowance, Reclassified | 954,000 | |||
Provision for Loan and Lease Losses | 736,000 | |||
Allowance for Loan and Lease Losses, Write-offs | 736,000 | |||
Loans and Leases Receivable, Allowance, Covered | 954,000 | |||
Loans, Including Acquired Loans [Member] | ||||
Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | ||||
Loans and Leases Receivable, Allowance | $ 32,305,000 | $ 29,982,000 | ||
[1] | Loans acquired are reported net of a $954,000 allowance at December 31, 2015. Loans acquired include $106.9 million (net of a $954,000 allowance) of loans covered by FDIC loss share agreements at December 31, 2014. |
Note 4 - Loans and Allowance 58
Note 4 - Loans and Allowance for Loan Losses (Details) - Loan Portfolio by Categories - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Consumer: | |||
Loans | $ 4,920,000 | $ 2,740,000 | |
Loans acquired, not covered by FDIC loss share (net of discount and allowance) (1) | [1] | 1,672,901 | 575,980 |
Loans acquired, covered by FDIC loss share (net of discount and allowance) (1) | [1] | 0 | 106,933 |
Total loans | 4,919,355 | 2,736,634 | |
Loans, Excluding Acquired Loans [Member] | |||
Consumer: | |||
Loans | 3,246,454 | 2,053,721 | |
Consumer Portfolio Segment [Member] | |||
Consumer: | |||
Loans | 385,668 | 288,782 | |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Consumer: | |||
Loans | 177,288 | 185,380 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Consumer: | |||
Loans | 208,380 | 103,402 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | |||
Consumer: | |||
Loans | 385,668 | 288,782 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Credit Card Receivable [Member] | |||
Consumer: | |||
Loans | 177,288 | 185,380 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | |||
Consumer: | |||
Loans | 208,380 | 103,402 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Consumer: | |||
Loans | 2,204,992 | 1,352,328 | |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | |||
Consumer: | |||
Loans | 1,229,072 | 714,797 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Consumer: | |||
Loans | 279,740 | 181,968 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Consumer: | |||
Loans | 696,180 | 455,563 | |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | |||
Consumer: | |||
Loans | 2,204,992 | 1,352,328 | |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | |||
Consumer: | |||
Loans | 1,229,072 | 714,797 | |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Construction Loans [Member] | |||
Consumer: | |||
Loans | 279,740 | 181,968 | |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Single Family Residential Loans [Member] | |||
Consumer: | |||
Loans | 696,180 | 455,563 | |
Commercial Portfolio Segment [Member] | |||
Consumer: | |||
Loans | 648,679 | 407,478 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Consumer: | |||
Loans | 500,116 | 291,820 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Consumer: | |||
Loans | 148,563 | 115,658 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | |||
Consumer: | |||
Loans | 648,679 | 407,478 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Commercial Loans [Member] | |||
Consumer: | |||
Loans | 500,116 | 291,820 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Agricultural Loans [Member] | |||
Consumer: | |||
Loans | 148,563 | 115,658 | |
Unallocated Financing Receivables [Member] | |||
Consumer: | |||
Loans | 7,115 | 5,133 | |
Unallocated Financing Receivables [Member] | Loans, Excluding Acquired Loans [Member] | |||
Consumer: | |||
Loans | $ 7,115 | $ 5,133 | |
[1] | See Note 5, Loans Acquired, for segregation of loans acquired by loan class. In September 2015 the Company entered into an agreement withthe FDIC to terminate all loss sharing agreements. |
Note 4 - Loans and Allowance 59
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans - Loans, Excluding Acquired Loans [Member] - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | $ 17,714 | $ 12,038 |
Consumer Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 654 | 602 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 212 | 197 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 442 | 405 |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 14,828 | 10,395 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 4,420 | 1,522 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 4,955 | 4,863 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 5,453 | 4,010 |
Commercial Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 2,232 | 1,041 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | 1,968 | 585 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans in nonaccrual status | $ 264 | $ 456 |
Note 4 - Loans and Allowance 60
Note 4 - Loans and Allowance for Loan Losses (Details) - Age Analysis of Past Due Loans, Excluding Loans Acquired, Segregated by Class of Loans - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 4,920,000 | $ 2,740,000 |
Loans, Excluding Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 3,246,454 | 2,053,721 |
90 Days Past Due & Accruing | 1,191 | 688 |
Past Due | 26,445 | 15,193 |
Current | 3,220,009 | 2,038,528 |
Loans, Excluding Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 13,391 | 10,196 |
Loans, Excluding Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 13,255 | 4,997 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 385,668 | 288,782 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 177,288 | 185,380 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 208,380 | 103,402 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 385,668 | 288,782 |
90 Days Past Due & Accruing | 641 | 223 |
Past Due | 3,645 | 2,940 |
Current | 382,023 | 285,842 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 2,518 | 2,036 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,127 | 904 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Credit Card Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 177,288 | 185,380 |
90 Days Past Due & Accruing | 267 | 0 |
Past Due | 1,118 | 1,144 |
Current | 176,170 | 184,236 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Credit Card Receivable [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 639 | 687 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Credit Card Receivable [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 479 | 457 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 208,380 | 103,402 |
90 Days Past Due & Accruing | 374 | 223 |
Past Due | 2,527 | 1,796 |
Current | 205,853 | 101,606 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,879 | 1,349 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 648 | 447 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 2,204,992 | 1,352,328 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,229,072 | 714,797 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 279,740 | 181,968 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 696,180 | 455,563 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 2,204,992 | 1,352,328 |
90 Days Past Due & Accruing | 389 | 425 |
Past Due | 18,208 | 11,290 |
Current | 2,186,784 | 1,341,038 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 7,053 | 7,660 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 11,155 | 3,630 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,229,072 | 714,797 |
90 Days Past Due & Accruing | 25 | 0 |
Past Due | 4,171 | 2,834 |
Current | 1,224,901 | 711,963 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 869 | 1,987 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3,302 | 847 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 279,740 | 181,968 |
90 Days Past Due & Accruing | 0 | 177 |
Past Due | 5,839 | 1,330 |
Current | 273,901 | 180,638 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,328 | 760 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 4,511 | 570 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Single Family Residential Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 696,180 | 455,563 |
90 Days Past Due & Accruing | 364 | 248 |
Past Due | 8,198 | 7,126 |
Current | 687,982 | 448,437 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Single Family Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 4,856 | 4,913 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Single Family Residential Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3,342 | 2,213 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 648,679 | 407,478 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 500,116 | 291,820 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 148,563 | 115,658 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 648,679 | 407,478 |
90 Days Past Due & Accruing | 146 | 40 |
Past Due | 4,592 | 963 |
Current | 644,087 | 406,515 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3,712 | 500 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 880 | 463 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 500,116 | 291,820 |
90 Days Past Due & Accruing | 90 | 0 |
Past Due | 4,064 | 735 |
Current | 496,052 | 291,085 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3,427 | 381 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 637 | 354 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 148,563 | 115,658 |
90 Days Past Due & Accruing | 56 | 40 |
Past Due | 528 | 228 |
Current | 148,035 | 115,430 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 285 | 119 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 243 | 109 |
Unallocated Financing Receivables [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 7,115 | 5,133 |
Unallocated Financing Receivables [Member] | Loans, Excluding Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 7,115 | 5,133 |
90 Days Past Due & Accruing | 15 | 0 |
Past Due | 0 | 0 |
Current | 7,115 | 5,133 |
Unallocated Financing Receivables [Member] | Loans, Excluding Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 108 | 0 |
Unallocated Financing Receivables [Member] | Loans, Excluding Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | $ 93 | $ 0 |
Note 4 - Loans and Allowance 61
Note 4 - Loans and Allowance for Loan Losses (Details) - Impaired Loans, Net of Government Guarantees and Excluding Loans Acquired, Segregated by Class of Loans - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Consumer: | |||
Unpaid contractual principal balance | $ 21,162 | $ 16,236 | |
Recorded investment with no allowance | 13,486 | 14,247 | |
Recorded investment with allowance | 4,704 | 422 | |
Total recorded investment | 18,190 | 14,669 | |
Related allowance | 2,831 | 2,075 | |
Average investment in impaired loans | 16,675 | 17,482 | $ 21,600 |
Interest income recognized | 1,200 | 764 | $ 900 |
Consumer Portfolio Segment [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 938 | 801 | |
Recorded investment with no allowance | 902 | 807 | |
Recorded investment with allowance | 19 | 9 | |
Total recorded investment | 921 | 816 | |
Related allowance | 92 | 124 | |
Average investment in impaired loans | 973 | 1,205 | |
Interest income recognized | 70 | 54 | |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 479 | 197 | |
Recorded investment with no allowance | 479 | 197 | |
Recorded investment with allowance | 0 | 0 | |
Total recorded investment | 479 | 197 | |
Related allowance | 7 | 6 | |
Average investment in impaired loans | 411 | 425 | |
Interest income recognized | 30 | 20 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 459 | 604 | |
Recorded investment with no allowance | 423 | 610 | |
Recorded investment with allowance | 19 | 9 | |
Total recorded investment | 442 | 619 | |
Related allowance | 85 | 118 | |
Average investment in impaired loans | 562 | 780 | |
Interest income recognized | 40 | 34 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 17,304 | 13,797 | |
Recorded investment with no allowance | 10,666 | 12,414 | |
Recorded investment with allowance | 4,351 | 413 | |
Total recorded investment | 15,017 | 12,827 | |
Related allowance | 2,307 | 1,766 | |
Average investment in impaired loans | 13,712 | 15,413 | |
Interest income recognized | 987 | 672 | |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 5,688 | 1,955 | |
Recorded investment with no allowance | 4,328 | 1,446 | |
Recorded investment with allowance | 88 | 36 | |
Total recorded investment | 4,416 | 1,482 | |
Related allowance | 832 | 268 | |
Average investment in impaired loans | 3,147 | 6,788 | |
Interest income recognized | 227 | 296 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 5,678 | 7,400 | |
Recorded investment with no allowance | 1,636 | 7,020 | |
Recorded investment with allowance | 3,318 | 0 | |
Total recorded investment | 4,954 | 7,020 | |
Related allowance | 441 | 599 | |
Average investment in impaired loans | 5,417 | 4,334 | |
Interest income recognized | 390 | 189 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 5,938 | 4,442 | |
Recorded investment with no allowance | 4,702 | 3,948 | |
Recorded investment with allowance | 945 | 377 | |
Total recorded investment | 5,647 | 4,325 | |
Related allowance | 1,034 | 899 | |
Average investment in impaired loans | 5,148 | 4,291 | |
Interest income recognized | 370 | 187 | |
Commercial Portfolio Segment [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 2,920 | 1,728 | |
Recorded investment with no allowance | 1,918 | 1,026 | |
Recorded investment with allowance | 334 | 0 | |
Total recorded investment | 2,252 | 1,026 | |
Related allowance | 432 | 185 | |
Average investment in impaired loans | 1,990 | 864 | |
Interest income recognized | 143 | 38 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 2,656 | 1,227 | |
Recorded investment with no allowance | 1,654 | 566 | |
Recorded investment with allowance | 334 | 0 | |
Total recorded investment | 1,988 | 566 | |
Related allowance | 387 | 102 | |
Average investment in impaired loans | 1,736 | 630 | |
Interest income recognized | 125 | 27 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Consumer: | |||
Unpaid contractual principal balance | 264 | 501 | |
Recorded investment with no allowance | 264 | 460 | |
Recorded investment with allowance | 0 | 0 | |
Total recorded investment | 264 | 460 | |
Related allowance | 45 | 83 | |
Average investment in impaired loans | 254 | 234 | |
Interest income recognized | $ 18 | $ 10 |
Note 4 - Loans and Allowance 62
Note 4 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings, Excluding Loans Acquired, Segregated by Class of Loans $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Consumer: | ||
Troubled debt - Number | 18 | 3 |
Loans, Excluding Acquired Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 25 | 8 |
Troubled debt -Balance | $ 5,561 | $ 3,241 |
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | ||
Consumer: | ||
Troubled debt - Number | 6 | 5 |
Troubled debt -Balance | $ 3,031 | $ 2,233 |
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Consumer: | ||
Troubled debt - Number | 19 | 3 |
Troubled debt -Balance | $ 2,530 | $ 1,008 |
Consumer Portfolio Segment [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | |
Troubled debt -Balance | $ 13 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | |
Troubled debt -Balance | $ 13 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | ||
Consumer: | ||
Troubled debt - Number | 0 | |
Troubled debt -Balance | $ 0 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Other Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 0 | |
Troubled debt -Balance | $ 0 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | |
Troubled debt -Balance | $ 13 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Other Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | |
Troubled debt -Balance | $ 13 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Consumer: | ||
Troubled debt - Number | 12 | 2 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 11 | |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 19 | 8 |
Troubled debt -Balance | $ 5,216 | $ 3,241 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Other Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 5 | 4 |
Troubled debt -Balance | $ 3,491 | $ 2,454 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Construction Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | 1 |
Troubled debt -Balance | $ 253 | $ 391 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Single Family Residential Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 13 | 3 |
Troubled debt -Balance | $ 1,472 | $ 396 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | ||
Consumer: | ||
Troubled debt - Number | 6 | 5 |
Troubled debt -Balance | $ 3,031 | $ 2,233 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Other Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 4 | 3 |
Troubled debt -Balance | $ 2,894 | $ 1,840 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 0 | 0 |
Troubled debt -Balance | $ 0 | $ 0 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Single Family Residential Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 2 | 2 |
Troubled debt -Balance | $ 137 | $ 393 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Consumer: | ||
Troubled debt - Number | 13 | 3 |
Troubled debt -Balance | $ 2,185 | $ 1,008 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Other Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | 1 |
Troubled debt -Balance | $ 597 | $ 614 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 1 | 1 |
Troubled debt -Balance | $ 253 | $ 391 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Single Family Residential Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 11 | 1 |
Troubled debt -Balance | $ 1,335 | $ 3 |
Commercial Portfolio Segment [Member] | ||
Consumer: | ||
Troubled debt - Number | 5 | 1 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 5 | 1 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 5 | |
Troubled debt -Balance | $ 332 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Commercial Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 5 | |
Troubled debt -Balance | $ 332 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | ||
Consumer: | ||
Troubled debt - Number | 0 | |
Troubled debt -Balance | $ 0 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Commercial Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 0 | |
Troubled debt -Balance | $ 0 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | ||
Consumer: | ||
Troubled debt - Number | 5 | |
Troubled debt -Balance | $ 332 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Commercial Loans [Member] | ||
Consumer: | ||
Troubled debt - Number | 5 | |
Troubled debt -Balance | $ 332 |
Note 4 - Loans and Allowance 63
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Restructured as TDRs, Excluding Loans Acquired, Segregated by Class of Loans $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Consumer: | ||
Number of loans | 18 | 3 |
Balance Prior to TDR | $ 2,636 | $ 2,025 |
Balance | 2,545 | 1,427 |
Extended Maturity [Member] | ||
Consumer: | ||
Modification type | 2,545 | 396 |
Interest Rate Below Market Reduction [Member] | ||
Consumer: | ||
Modification type | $ 0 | $ 1,031 |
Consumer Portfolio Segment [Member] | ||
Consumer: | ||
Number of loans | 1 | |
Balance Prior to TDR | $ 13 | |
Balance | 13 | |
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | ||
Consumer: | ||
Modification type | 13 | |
Consumer Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | ||
Consumer: | ||
Modification type | $ 0 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Consumer: | ||
Number of loans | 1 | |
Balance Prior to TDR | $ 13 | |
Balance | 13 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Extended Maturity [Member] | ||
Consumer: | ||
Modification type | 13 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Interest Rate Below Market Reduction [Member] | ||
Consumer: | ||
Modification type | $ 0 | |
Commercial Real Estate Portfolio Segment [Member] | ||
Consumer: | ||
Number of loans | 12 | 2 |
Balance Prior to TDR | $ 2,276 | $ 1,427 |
Balance | 2,200 | 1,427 |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||
Consumer: | ||
Modification type | 2,200 | 396 |
Commercial Real Estate Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | ||
Consumer: | ||
Modification type | $ 0 | $ 1,031 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Consumer: | ||
Number of loans | 11 | |
Balance Prior to TDR | $ 1,179 | |
Balance | 1,103 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Extended Maturity [Member] | ||
Consumer: | ||
Modification type | $ 1,103 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Consumer: | ||
Number of loans | 1 | 2 |
Balance Prior to TDR | $ 1,097 | $ 1,427 |
Balance | 1,097 | 1,427 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | Extended Maturity [Member] | ||
Consumer: | ||
Modification type | 1,097 | 396 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | Interest Rate Below Market Reduction [Member] | ||
Consumer: | ||
Modification type | $ 0 | $ 1,031 |
Commercial Portfolio Segment [Member] | ||
Consumer: | ||
Number of loans | 5 | 1 |
Balance Prior to TDR | $ 347 | $ 598 |
Balance | 332 | 0 |
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | ||
Consumer: | ||
Modification type | 332 | 0 |
Commercial Portfolio Segment [Member] | Interest Rate Below Market Reduction [Member] | ||
Consumer: | ||
Modification type | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Consumer: | ||
Number of loans | 5 | 1 |
Balance Prior to TDR | $ 347 | $ 598 |
Balance | 332 | 0 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Extended Maturity [Member] | ||
Consumer: | ||
Modification type | 332 | 0 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Interest Rate Below Market Reduction [Member] | ||
Consumer: | ||
Modification type | $ 0 | $ 0 |
Note 4 - Loans and Allowance 64
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans by Credit Risk Rating, Segregated by Class of Loans - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Consumer: | ||
Credit risk | $ 4,919,355 | $ 2,736,634 |
Credit risk | 1,672,901 | 575,980 |
Loans acquired, covered by FDIC loss share | 106,933 | |
Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 4,745,322 | 2,642,549 |
Credit risk | 1,590,384 | 535,728 |
Loans acquired, covered by FDIC loss share | 106,933 | |
Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 20,334 | 11,938 |
Credit risk | 9,150 | 1,435 |
Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 148,719 | 80,152 |
Credit risk | 69,219 | 36,958 |
Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 4,521 | 1,990 |
Credit risk | 3,689 | 1,854 |
Risk Rate 8 [Member] | ||
Consumer: | ||
Credit risk | 459 | 5 |
Credit risk | 459 | 5 |
Consumer Portfolio Segment [Member] | ||
Consumer: | ||
Credit risk | 385,668 | 288,782 |
Consumer Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 383,878 | 287,438 |
Consumer Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 5 | |
Consumer Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 1,741 | 1,296 |
Consumer Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 49 | 43 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Consumer: | ||
Credit risk | 177,288 | 185,380 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 176,809 | 184,923 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 479 | 457 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Consumer: | ||
Credit risk | 208,380 | 103,402 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 207,069 | 102,515 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 5 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 1,262 | 839 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 49 | 43 |
Commercial Real Estate Portfolio Segment [Member] | ||
Consumer: | ||
Credit risk | 2,204,992 | 1,352,328 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 2,128,687 | 1,321,194 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 8,424 | 8,934 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 67,104 | 22,118 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 777 | 82 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | ||
Consumer: | ||
Credit risk | 1,229,072 | 714,797 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 1,178,817 | 698,329 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 5,404 | 7,074 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 44,261 | 9,394 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 590 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Consumer: | ||
Credit risk | 279,740 | 181,968 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 270,386 | 176,825 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 319 | 84 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 9,019 | 5,059 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 16 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Consumer: | ||
Credit risk | 696,180 | 455,563 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 679,484 | 446,040 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 2,701 | 1,776 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 13,824 | 7,665 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 171 | 82 |
Commercial Portfolio Segment [Member] | ||
Consumer: | ||
Credit risk | 648,679 | 407,478 |
Commercial Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 635,351 | 386,123 |
Commercial Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 2,760 | 1,564 |
Commercial Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 10,562 | 19,780 |
Commercial Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 6 | 11 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Consumer: | ||
Credit risk | 500,116 | 291,820 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 487,563 | 271,017 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 2,760 | 1,544 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 9,787 | 19,248 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Risk Rate 7 [Member] | ||
Consumer: | ||
Credit risk | 6 | 11 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Consumer: | ||
Credit risk | 148,563 | 115,658 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 147,788 | 115,106 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Risk Rate 5 [Member] | ||
Consumer: | ||
Credit risk | 20 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | 775 | 532 |
Unallocated Financing Receivables [Member] | ||
Consumer: | ||
Credit risk | 7,115 | 5,133 |
Unallocated Financing Receivables [Member] | Risk Rate 1-4 [Member] | ||
Consumer: | ||
Credit risk | 7,022 | $ 5,133 |
Unallocated Financing Receivables [Member] | Risk Rate 6 [Member] | ||
Consumer: | ||
Credit risk | $ 93 |
Note 4 - Loans and Allowance 65
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | $ (5,963) | $ (5,296) |
Consumer Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (3,351) | (3,460) |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (2,217) | (2,292) |
Consumer Portfolio Segment [Member] | Student Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | 0 | (38) |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (1,134) | (1,130) |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (1,377) | (1,118) |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (926) | (167) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (44) | (356) |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (407) | (595) |
Commercial Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (1,235) | (718) |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | (1,202) | (704) |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Net (Charge-Offs)/Recoveries, Excluding Loans Acquired, Segregated by Class of Loans [Line Items] | ||
Loans Receivable | $ (33) | $ (14) |
Note 4 - Loans and Allowance 66
Note 4 - Loans and Allowance for Loan Losses (Details) - Activity in the Allowance for Loan Losses, by Portfolio Segment, for the Current Year: - USD ($) | 12 Months Ended | |||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Balance, beginning of period | $ 29,028,000 | |||||
Provision for loan losses | 9,022,000 | $ 7,245,000 | $ 4,118,000 | |||
Balance, end of year | 31,351,000 | 29,028,000 | ||||
Loans, Excluding Acquired Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Balance, beginning of period | 29,028,000 | [1] | 27,442,000 | [1] | 27,882,000 | |
Provision for loan losses | 8,286,000 | 6,882,000 | [1] | 4,118,000 | ||
Charge-offs | (7,774,000) | (8,554,000) | [1] | (6,834,000) | ||
Recoveries | 1,811,000 | 3,258,000 | [1] | 2,276,000 | ||
Net charge-offs | (5,963,000) | (5,296,000) | [1] | (4,558,000) | ||
Balance, end of year | 31,351,000 | [2] | 29,028,000 | [1] | 27,442,000 | [1] |
Period-end amount allocated to: | ||||||
Loans individually evaluated for impairment | 2,831,000 | 2,075,000 | ||||
Loans collectively evaluated for impairment | 28,520,000 | 26,963,000 | ||||
Loans, Excluding Acquired Loans [Member] | Commercial Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Balance, beginning of period | 6,962,000 | [1] | 3,205,000 | [1] | 3,446,000 | |
Provision for loan losses | 258,000 | 4,475,000 | [1] | (51,000) | ||
Charge-offs | (1,415,000) | (1,044,000) | [1] | (382,000) | ||
Recoveries | 180,000 | 326,000 | [1] | 192,000 | ||
Net charge-offs | (1,235,000) | (718,000) | [1] | (190,000) | ||
Balance, end of year | 5,985,000 | [2] | 6,962,000 | [1] | 3,205,000 | [1] |
Period-end amount allocated to: | ||||||
Loans individually evaluated for impairment | 432,000 | 185,000 | ||||
Loans collectively evaluated for impairment | 5,553,000 | 6,777,000 | ||||
Loans, Excluding Acquired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Balance, beginning of period | 15,161,000 | [1] | 16,885,000 | [1] | 15,453,000 | |
Provision for loan losses | 5,738,000 | (606,000) | [1] | 2,468,000 | ||
Charge-offs | (1,580,000) | (2,684,000) | [1] | (1,628,000) | ||
Recoveries | 203,000 | 1,566,000 | [1] | 592,000 | ||
Net charge-offs | (1,377,000) | (1,118,000) | [1] | (1,036,000) | ||
Balance, end of year | 19,522,000 | [2] | 15,161,000 | [1] | 16,885,000 | [1] |
Period-end amount allocated to: | ||||||
Loans individually evaluated for impairment | 2,307,000 | 1,766,000 | ||||
Loans collectively evaluated for impairment | 17,215,000 | 13,405,000 | ||||
Loans, Excluding Acquired Loans [Member] | Consumer Portfolio Segment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Balance, beginning of period | 5,445,000 | [1] | 5,430,000 | [1] | 7,211,000 | |
Provision for loan losses | 665,000 | 2,307,000 | [1] | 581,000 | ||
Charge-offs | (3,107,000) | (3,188,000) | [1] | (3,263,000) | ||
Recoveries | 890,000 | 896,000 | [1] | 901,000 | ||
Net charge-offs | (2,217,000) | (2,292,000) | [1] | (2,362,000) | ||
Balance, end of year | 3,893,000 | [2] | 5,445,000 | [1] | 5,430,000 | [1] |
Period-end amount allocated to: | ||||||
Loans individually evaluated for impairment | 7,000 | 6,000 | ||||
Loans collectively evaluated for impairment | 3,886,000 | 5,439,000 | ||||
Loans, Excluding Acquired Loans [Member] | Unallocated Financing Receivables [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Balance, beginning of period | 1,460,000 | [1] | 1,922,000 | [1] | 1,772,000 | |
Provision for loan losses | 1,625,000 | 706,000 | [1] | 1,120,000 | ||
Charge-offs | (1,672,000) | (1,638,000) | [1] | (1,561,000) | ||
Recoveries | 538,000 | 470,000 | [1] | 591,000 | ||
Net charge-offs | (1,134,000) | (1,168,000) | [1] | (970,000) | ||
Balance, end of year | 1,951,000 | [2] | 1,460,000 | [1] | $ 1,922,000 | [1] |
Period-end amount allocated to: | ||||||
Loans individually evaluated for impairment | 85,000 | 118,000 | ||||
Loans collectively evaluated for impairment | $ 1,866,000 | $ 1,342,000 | ||||
[1] | Allowance for loan losses at December 31, 2015 and 2014 includes $954,000 allowance for loans acquired (not shown in the table above). The total allowance for loan losses at December 31, 2015 and 2014 was $32,305,000 and $29,982,000, respectively. | |||||
[2] | Provision for loan losses of $736,000 attributable to loans acquired was excluded from this table for the year ended December 31, 2015 (total provision for loan losses for the year ended December 31, 2015 was $9,022,000). The $736,000 was subsequently charged-off, resulting in no increase to the ending balance in the allowance related to loans acquired. |
Note 4 - Loans and Allowance 67
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Balance, end of period | $ 4,919,355 | $ 2,736,634 |
Commercial Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Balance, end of period | 648,679 | 407,478 |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Balance, end of period | 2,204,992 | 1,352,328 |
Consumer Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Balance, end of period | 385,668 | 288,782 |
Unallocated Financing Receivables [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Balance, end of period | 7,115 | 5,133 |
Loans, Excluding Acquired Loans [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Loans individually evaluated for impairment | 18,190 | 14,669 |
Loans collectively evaluated for impairment | 3,228,264 | 2,039,052 |
Balance, end of period | 3,246,454 | 2,053,721 |
Loans, Excluding Acquired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Loans individually evaluated for impairment | 2,252 | 1,026 |
Loans collectively evaluated for impairment | 646,427 | 406,452 |
Balance, end of period | 648,679 | 407,478 |
Loans, Excluding Acquired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Loans individually evaluated for impairment | 15,017 | 12,827 |
Loans collectively evaluated for impairment | 2,189,975 | 1,339,501 |
Balance, end of period | 2,204,992 | 1,352,328 |
Loans, Excluding Acquired Loans [Member] | Consumer Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Loans individually evaluated for impairment | 479 | 197 |
Loans collectively evaluated for impairment | 176,809 | 185,183 |
Balance, end of period | 177,288 | 185,380 |
Loans, Excluding Acquired Loans [Member] | Unallocated Financing Receivables [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Recorded Investment in Loans, Excluding Loans Acquired [Line Items] | ||
Loans individually evaluated for impairment | 442 | 619 |
Loans collectively evaluated for impairment | 215,053 | 107,916 |
Balance, end of period | $ 215,495 | $ 108,535 |
Note 5 - Loans Acquired (Detail
Note 5 - Loans Acquired (Details) - USD ($) | 12 Months Ended | |||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2015 | Sep. 30, 2014 | Mar. 31, 2013 | |
Note 5 - Loans Acquired (Details) [Line Items] | ||||||
FDIC Indemnification Asset, Cash Payments Received | $ 2,368,000 | |||||
Gain (Loss) on Contract Termination | (7,476,000) | |||||
Non-Covered Impaired Loans Allowance, Reclassified | 954,000 | |||||
Acquired Loans, Covered By FDIC Loss Share Agreements | $ 106,900,000 | $ 954,000 | ||||
Covered Purchased Impaired Loans, Allowance | 954,000 | |||||
Provision for Loan and Lease Losses | 9,022,000 | $ 7,245,000 | $ 4,118,000 | |||
FDIC Indemnification Asset, Disposals | 7,500,000 | |||||
Acquired Loans [Member] | ||||||
Note 5 - Loans Acquired (Details) [Line Items] | ||||||
Non-Covered Impaired Loans Allowance, Reclassified | 954,000 | |||||
Provision for Loan and Lease Losses | $ 736,000 | |||||
Liberty Bancshares, Inc. [Member] | ||||||
Note 5 - Loans Acquired (Details) [Line Items] | ||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Not Covered by FDIC Loss Share | $ 769,900,000 | |||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Gross | 774,800,000 | |||||
Loans Acquired Discount | 4,900,000 | |||||
Liberty Bancshares, Inc. [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Note 5 - Loans Acquired (Details) [Line Items] | ||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Not Covered by FDIC Loss Share | 10,700,000 | |||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Gross | 15,700,000 | |||||
Loans Acquired Discount | 5,000,000 | |||||
Community First Bancshares, Inc. [Member] | ||||||
Note 5 - Loans Acquired (Details) [Line Items] | ||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Not Covered by FDIC Loss Share | 1,130,000,000 | |||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Gross | 1,150,000,000 | |||||
Loans Acquired Discount | 23,700,000 | |||||
Community First Bancshares, Inc. [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Note 5 - Loans Acquired (Details) [Line Items] | ||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Not Covered by FDIC Loss Share | 7,000,000 | |||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Gross | 10,100,000 | |||||
Loans Acquired Discount | $ 3,100,000 | |||||
Metropolitan [Member] | ||||||
Note 5 - Loans Acquired (Details) [Line Items] | ||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Not Covered by FDIC Loss Share | 429,000,000 | $ 308,200,000 | ||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Gross | 442,000,000 | 316,100,000 | ||||
Loans Acquired Discount | 13,000,000 | 7,900,000 | ||||
Metropolitan [Member] | Purchased Credit Impaired Loans [Member] | ||||||
Note 5 - Loans Acquired (Details) [Line Items] | ||||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Not Covered by FDIC Loss Share | 28,400,000 | 3,500,000 | ||||
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed Other Noncurrent Assets Loans Acquired Gross | 52,800,000 | 10,700,000 | ||||
Loans Acquired Discount | $ 24,500,000 | $ 7,200,000 |
Note 5 - Loans Acquired (Deta69
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | [1] | $ 1,672,901 | $ 682,913 |
Consumer Portfolio Segment [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | 75,606 | 8,514 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | 75,606 | 8,514 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | 1,432,189 | 613,758 | |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | 854,068 | 390,877 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | 77,119 | 46,911 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | 501,002 | 175,970 | |
Commercial Portfolio Segment [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | 165,106 | 60,641 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | 154,533 | 56,134 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Note 5 - Loans Acquired (Details) - Carrying Value of all Acquired Impaired Loans [Line Items] | |||
Acquired loans | $ 10,573 | $ 4,507 | |
[1] | Loans acquired are reported net of a $954,000 allowance at December 31, 2015. Loans acquired include $106.9 million (net of a $954,000 allowance) of loans covered by FDIC loss share agreements at December 31, 2014. |
Note 5 - Loans Acquired (Deta70
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans - Acquired Loans [Member] - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | $ 18,951 | $ 2,717 |
Consumer Portfolio Segment [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | 71 | 29 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | 71 | 29 |
Commercial Real Estate Portfolio Segment [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | 15,013 | 2,394 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | 6,435 | 271 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | 783 | 105 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | 7,795 | 2,018 |
Commercial Portfolio Segment [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | 3,867 | 294 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | 3,859 | 291 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Note 5 - Loans Acquired (Details) - Nonaccrual Acquired Loans [Line Items] | ||
Nonaccrual acquired loans | $ 8 | $ 3 |
Note 5 - Loans Acquired (Deta71
Note 5 - Loans Acquired (Details) - Age Analysis of Past Due Acquired Loans, Excluding Loans Covered by Loss Share - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | $ 4,920,000 | $ 2,740,000 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 51,039 | 15,151 |
Past due acquired loans, current | 1,621,862 | 560,829 |
Past due acquired loans, total loans | 1,672,901 | 575,980 |
Past due acquired loans, 90 days past due and accruing | 3,224 | 599 |
Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 26,078 | 5,691 |
Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 24,961 | 9,460 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 385,668 | 288,782 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 208,380 | 103,402 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 948 | 104 |
Past due acquired loans, current | 74,658 | 8,407 |
Past due acquired loans, total loans | 75,606 | 8,511 |
Past due acquired loans, 90 days past due and accruing | 57 | 5 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 826 | 70 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 122 | 34 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 948 | 104 |
Past due acquired loans, current | 74,658 | 8,407 |
Past due acquired loans, total loans | 75,606 | 8,511 |
Past due acquired loans, 90 days past due and accruing | 57 | 5 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 826 | 70 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 122 | 34 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 2,204,992 | 1,352,328 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 1,229,072 | 714,797 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 279,740 | 181,968 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 696,180 | 455,563 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 45,248 | 14,516 |
Past due acquired loans, current | 1,386,941 | 501,592 |
Past due acquired loans, total loans | 1,432,189 | 516,108 |
Past due acquired loans, 90 days past due and accruing | 1,859 | 594 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 23,139 | 5,511 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 22,109 | 9,005 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 20,720 | 7,409 |
Past due acquired loans, current | 833,348 | 326,759 |
Past due acquired loans, total loans | 854,068 | 334,168 |
Past due acquired loans, 90 days past due and accruing | 203 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 12,910 | 1,415 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 7,810 | 5,994 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 10,185 | 397 |
Past due acquired loans, current | 66,934 | 36,450 |
Past due acquired loans, total loans | 77,119 | 36,847 |
Past due acquired loans, 90 days past due and accruing | 410 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 736 | 292 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 9,449 | 105 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 14,343 | 6,710 |
Past due acquired loans, current | 486,659 | 138,383 |
Past due acquired loans, total loans | 501,002 | 145,093 |
Past due acquired loans, 90 days past due and accruing | 1,246 | 594 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 9,493 | 3,804 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 4,850 | 2,906 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 648,679 | 407,478 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 500,116 | 291,820 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total loans | 148,563 | 115,658 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 4,843 | 531 |
Past due acquired loans, current | 160,263 | 50,830 |
Past due acquired loans, total loans | 165,106 | 51,361 |
Past due acquired loans, 90 days past due and accruing | 1,308 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 2,113 | 110 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 2,730 | 421 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 4,333 | 531 |
Past due acquired loans, current | 150,200 | 46,730 |
Past due acquired loans, total loans | 154,533 | 47,261 |
Past due acquired loans, 90 days past due and accruing | 912 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 1,999 | 110 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 2,334 | 421 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 510 | 0 |
Past due acquired loans, current | 10,063 | 4,100 |
Past due acquired loans, total loans | 10,573 | 4,100 |
Past due acquired loans, 90 days past due and accruing | 396 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | 114 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past due acquired loans, total past due | $ 396 | $ 0 |
Note 5 - Loans Acquired (Deta72
Note 5 - Loans Acquired (Details) - Summary of Acquired Loans, Excluding Loans Covered by Loss Share - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | $ 4,919,355 | $ 2,736,634 |
Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 4,745,322 | 2,642,549 |
Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 20,334 | 11,938 |
Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 148,719 | 80,152 |
Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 4,521 | 1,990 |
Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 459 | 5 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,672,901 | 575,980 |
Acquired Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,590,384 | 535,729 |
Acquired Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 9,150 | 1,435 |
Acquired Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 69,219 | 36,957 |
Acquired Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 3,689 | 1,854 |
Acquired Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 459 | 5 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 385,668 | 288,782 |
Consumer Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 383,878 | 287,438 |
Consumer Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 5 | |
Consumer Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,741 | 1,296 |
Consumer Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 49 | 43 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 208,380 | 103,402 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 207,069 | 102,515 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 5 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,262 | 839 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 49 | 43 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 75,606 | 8,511 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 75,330 | 8,479 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 276 | 32 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 75,606 | 8,511 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 75,330 | 8,479 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 276 | 32 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 2,204,992 | 1,352,328 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 2,128,687 | 1,321,194 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 8,424 | 8,934 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 67,104 | 22,118 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 777 | 82 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,229,072 | 714,797 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,178,817 | 698,329 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 5,404 | 7,074 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 44,261 | 9,394 |
Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 590 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 279,740 | 181,968 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 270,386 | 176,825 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 319 | 84 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 9,019 | 5,059 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 16 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 696,180 | 455,563 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 679,484 | 446,040 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 2,701 | 1,776 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 13,824 | 7,665 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 171 | 82 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,432,189 | 516,108 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,360,505 | 480,635 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 8,818 | 1,366 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 60,732 | 32,248 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,675 | 1,854 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 459 | 5 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 854,068 | 334,168 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 812,537 | 317,965 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 7,328 | 605 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 33,748 | 15,598 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 455 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 77,119 | 36,847 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 68,775 | 27,430 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 78 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 8,344 | 9,339 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 501,002 | 145,093 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 479,193 | 135,240 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,490 | 683 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 18,640 | 7,311 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 1,675 | 1,854 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 4 | 5 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 648,679 | 407,478 |
Commercial Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 635,351 | 386,123 |
Commercial Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 2,760 | 1,564 |
Commercial Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 10,562 | 19,780 |
Commercial Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 6 | 11 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 500,116 | 291,820 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 487,563 | 271,017 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 2,760 | 1,544 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 9,787 | 19,248 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 6 | 11 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 148,563 | 115,658 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 147,788 | 115,106 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 20 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 775 | 532 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 165,106 | 51,361 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 154,549 | 46,615 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 332 | 69 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 8,211 | 4,677 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 2,014 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 154,533 | 47,261 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 144,239 | 43,585 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 332 | 69 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 7,948 | 3,607 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 2,014 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 10,573 | 4,100 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Risk Rate 1-4 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 10,310 | 3,030 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Risk Rate 5 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Risk Rate 6 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 263 | 1,070 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Risk Rate 7 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Risk Rate 8 [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Acquired loans | $ 0 | $ 0 |
Note 5 - Loans Acquired (Deta73
Note 5 - Loans Acquired (Details) - Summary of the Non-covered Impaired Loans Acquired in Acquisitions - Loans Acquired, Not Covered By FDIC Loss Share [Member] - USD ($) $ in Thousands | Feb. 27, 2015 | Aug. 31, 2014 | Nov. 25, 2013 |
Liberty [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | $ 774,777 | ||
Non-accretable difference (expected losses and foregone interest) | 0 | ||
Cash flows expected to be collected at acquisition | 774,777 | ||
Accretable yield | (4,869) | ||
Basis in acquired loans at acquisition | 769,908 | ||
Liberty [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | 15,716 | ||
Non-accretable difference (expected losses and foregone interest) | (4,978) | ||
Cash flows expected to be collected at acquisition | 10,738 | ||
Accretable yield | 12 | ||
Basis in acquired loans at acquisition | 10,750 | ||
Community First Bancshares, Inc. [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | 1,153,255 | ||
Non-accretable difference (expected losses and foregone interest) | 0 | ||
Cash flows expected to be collected at acquisition | 1,153,255 | ||
Accretable yield | (23,712) | ||
Basis in acquired loans at acquisition | 1,129,543 | ||
Community First Bancshares, Inc. [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | 10,143 | ||
Non-accretable difference (expected losses and foregone interest) | (3,247) | ||
Cash flows expected to be collected at acquisition | 6,896 | ||
Accretable yield | 104 | ||
Basis in acquired loans at acquisition | $ 7,000 | ||
Delta Trust [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | $ 316,103 | ||
Non-accretable difference (expected losses and foregone interest) | 0 | ||
Cash flows expected to be collected at acquisition | 316,103 | ||
Accretable yield | (7,949) | ||
Basis in acquired loans at acquisition | 308,154 | ||
Delta Trust [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | 10,726 | ||
Non-accretable difference (expected losses and foregone interest) | (7,023) | ||
Cash flows expected to be collected at acquisition | 3,703 | ||
Accretable yield | (177) | ||
Basis in acquired loans at acquisition | $ 3,526 | ||
Metropolitan [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | $ 442,009 | ||
Non-accretable difference (expected losses and foregone interest) | 0 | ||
Cash flows expected to be collected at acquisition | 442,009 | ||
Accretable yield | (12,989) | ||
Basis in acquired loans at acquisition | 429,020 | ||
Metropolitan [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |||
Contractually required principal and interest at acquisition | 52,830 | ||
Non-accretable difference (expected losses and foregone interest) | (21,962) | ||
Cash flows expected to be collected at acquisition | 30,868 | ||
Accretable yield | (2,516) | ||
Basis in acquired loans at acquisition | $ 28,352 |
Note 5 - Loans Acquired (Deta74
Note 5 - Loans Acquired (Details) - Impact of the Adjustments on the Company's Financial Results for the Following Reporting Periods - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | ||
Impact of the Adjustments on the Company's Financial Results for the Following Reporting Periods [Abstract] | |||
Impact on net interest income | $ 19,995 | $ 26,400 | |
Non-interest income (1) | [1] | (7,719) | (20,540) |
Net impact to pre-tax income | 12,276 | 5,860 | |
Net impact, net of taxes | $ 7,461 | $ 3,561 | |
[1] | Negative non-interest income resulted from the amortization of the FDIC indemnification assets. Because the Company's loss share agreements with the FDIC have been terminated, there will be no further indemnification asset amortization. |
Note 5 - Loans Acquired (Deta75
Note 5 - Loans Acquired (Details) - Changes in the Carrying Amount of the Accretable Yield for All Purchased Impaired and Non-Impaired Loans - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Changes in the Carrying Amount of the Accretable Yield for All Purchased Impaired and Non-Impaired Loans [Abstract] | |||
Balance, January 1, 2013 | $ 20,635 | $ 41,385 | $ 58,066 |
Balance, January 1, 2013 | 169,098 | 234,785 | 293,606 |
Additions-Accretable Yield | (116) | 177 | 2,516 |
Additions-Carrying Amount of Loans | 17,750 | 3,526 | 28,352 |
Accretable yield adjustments-Accretable Yield | 6,593 | 9,104 | 17,380 |
Accretion-Accretable Yield | (21,038) | (30,031) | (36,577) |
Accretion-Carrying Amount of Loans | 21,038 | 30,031 | 36,577 |
Payments and other reductions, net-Accretable Yield | (5,120) | ||
Payments and other reductions, net-Carrying Amount of Loans | (184,417) | (99,244) | (123,750) |
Balance, ending-Accretable Yield | 954 | 20,635 | 41,385 |
Balance, ending-Carrying Amount of Loans | $ 23,469 | $ 169,098 | $ 234,785 |
Note 5 - Loans Acquired (Deta76
Note 5 - Loans Acquired (Details) - Summary of the Changes in the FDIC True-Up Provision - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Summary of the Changes in the FDIC True-Up Provision [Abstract] | |||
Balance, January 1, 2013 | $ 8,308 | $ 6,768 | $ 4,854 |
Amortization expense | 107 | 168 | 160 |
Adjustments related to changes in expected losses | 720 | 1,372 | 1,754 |
Loss share termination agreement | (9,135) | ||
Balance, December 31 | $ 0 | $ 8,308 | $ 6,768 |
Note 6 - Goodwill and Other I77
Note 6 - Goodwill and Other Intangible Assets (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Oct. 29, 2015 | Feb. 27, 2015 | Aug. 31, 2014 | |
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Goodwill | $ 327,686,000 | $ 327,686,000 | $ 108,095,000 | |||||||
Liberty Bancshares, Inc. [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Goodwill | $ 95,207,000 | |||||||||
Goodwill, Acquired During Period | 95,200,000 | |||||||||
Community First Bancshares, Inc. [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Goodwill | $ 110,400,000 | |||||||||
Goodwill, Acquired During Period | 110,400,000 | |||||||||
OTIC and TCO [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Goodwill | $ 13,944,000 | |||||||||
Goodwill, Acquired During Period | 13,900,000 | |||||||||
Delta Trust [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Goodwill | $ 29,022,000 | |||||||||
Goodwill, Acquired During Period | $ 29,000,000 | |||||||||
Core Deposit Premium [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||||||
Amortization of Intangible Assets | $ 3,900,000 | 1,400,000 | $ 600,000 | |||||||
Core Deposit Premium [Member] | Salina Banking Operations [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Decrease in Intangible Assets from the Sale of Business | $ 382,000 | |||||||||
Core Deposit Premium [Member] | Liberty Bancshares, Inc. [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-lived Intangible Assets Acquired | 14,600,000 | |||||||||
Core Deposit Premium [Member] | Community First Bancshares, Inc. [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-lived Intangible Assets Acquired | 11,300,000 | |||||||||
Core Deposit Premium [Member] | Delta Acquisition [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-lived Intangible Assets Acquired | 4,300,000 | |||||||||
Books of Business Intangible [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Amortization of Intangible Assets | $ 528,000 | 151,000 | 0 | |||||||
Books of Business Intangible [Member] | Community First Bancshares, Inc. [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-lived Intangible Assets Acquired | $ 420,000 | |||||||||
Books of Business Intangible [Member] | Delta Trust [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-lived Intangible Assets Acquired | $ 5,100,000 | |||||||||
Books of Business Intangible [Member] | Minimum [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||||||||
Books of Business Intangible [Member] | Maximum [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||||||||
Trust Operations [Member] | OTIC and TCO [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Finite-lived Intangible Assets Acquired | $ 9,700,000 | |||||||||
Purchased Credit Card Relationships [Member] | ||||||||||
Note 6 - Goodwill and Other Intangible Assets (Details) [Line Items] | ||||||||||
Amortization of Intangible Assets | $ 414,000 | $ 414,000 | $ 104,000 |
Note 6 - Goodwill and Other I78
Note 6 - Goodwill and Other Intangible Assets (Details) - Goodwill and Other Intangibles - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Note 6 - Goodwill and Other Intangible Assets (Details) - Goodwill and Other Intangibles [Line Items] | ||
Goodwill | $ 327,686 | $ 108,095 |
Core deposit premiums: | ||
Net carrying amount | 53,237 | |
Total goodwill and other intangible assets | 380,923 | 130,621 |
Core Deposit Premium [Member] | ||
Core deposit premiums: | ||
Gross carrying amount | 43,648 | 18,318 |
Accumulated amortization | (6,217) | (2,386) |
Net carrying amount | 37,431 | 15,932 |
Purchased Credit Card Relationships [Member] | ||
Core deposit premiums: | ||
Gross carrying amount | 2,068 | 2,068 |
Accumulated amortization | (931) | (517) |
Net carrying amount | 1,137 | 1,551 |
Books of Business Intangible [Member] | ||
Core deposit premiums: | ||
Gross carrying amount | 15,293 | 5,140 |
Accumulated amortization | (624) | (97) |
Net carrying amount | 14,669 | 5,043 |
Other Intangible Assets [Member] | ||
Core deposit premiums: | ||
Net carrying amount | $ 53,237 | $ 22,526 |
Note 6 - Goodwill and Other I79
Note 6 - Goodwill and Other Intangible Assets (Details) - Amortization Expense $ in Thousands | Dec. 31, 2015USD ($) |
Amortization Expense [Abstract] | |
2,016 | $ 5,815 |
2,017 | 5,815 |
2,018 | 5,711 |
2,019 | 5,401 |
2,020 | 5,389 |
Thereafter | 25,106 |
Total | $ 53,237 |
Note 7 - Time Deposits (Details
Note 7 - Time Deposits (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Time Deposits, $100,000 or More | $ 625,755,000 | $ 434,297,000 |
Time Deposit,$250,000 or More | 186,352,000 | 106,603,000 |
Interest-bearing Domestic Deposit, Brokered | 1,455,000 | $ 7,427,000 |
Time Deposit Maturities, Next Twelve Months | 945,950,000 | |
Time Deposit Maturities, Year Two | 253,828,000 | |
Time Deposit Maturities, Year Three | 70,174,000 | |
Time Deposit Maturities, Year Four | 24,635,000 | |
Time Deposit Maturities, Year Five | 25,357,000 | |
Time Deposit Maturities, after Year Five | $ 73,000 |
Note 8 - Income Taxes (Details)
Note 8 - Income Taxes (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Nov. 25, 2013 | |
Domestic Tax Authority [Member] | Earliest Tax Year [Member] | ||
Note 8 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,012 | |
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | ||
Note 8 - Income Taxes (Details) [Line Items] | ||
Open Tax Year | 2,009 | |
Metropolitan [Member] | ||
Note 8 - Income Taxes (Details) [Line Items] | ||
Operating Loss Carryforwards | $ 37.5 |
Note 8 - Income Taxes (Detail82
Note 8 - Income Taxes (Details) - Provision for Income Taxes - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Provision for Income Taxes [Abstract] | |||
Income taxes currently payable | $ 19,301 | $ 23,631 | $ 13,923 |
Deferred income taxes | 13,599 | (9,029) | (4,618) |
Provision for income taxes | $ 32,900 | $ 14,602 | $ 9,305 |
Note 8 - Income Taxes (Detail83
Note 8 - Income Taxes (Details) - Tax Effects of Temporary Differences Related to Deferred Taxes Included in Other Liabilities: - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Loans acquired | $ 14,716 | $ 16,925 |
FDIC true-up liability | 0 | 2,792 |
Allowance for loan losses | 12,700 | 11,749 |
Valuation of foreclosed assets | 11,212 | 14,167 |
Tax NOLs from acquisition | 14,593 | 11,819 |
Deferred compensation payable | 2,767 | 1,536 |
Vacation compensation | 2,250 | 1,456 |
Accumulated depreciation | 0 | 1,937 |
Accrued pension and profit sharing | 0 | 1,793 |
Accrued equity and other compensation | 5,197 | 3,356 |
Acquired securities | 1,770 | 2,568 |
Other accrued liabilities | 1,943 | 3,194 |
Unrealized loss on available-for-sale securities | 1,655 | 862 |
Other | 3,006 | 2,630 |
Gross deferred tax assets | 71,809 | 76,784 |
Deferred tax liabilities: | ||
Goodwill and other intangible amortization | (30,550) | (16,953) |
FDIC acquired assets | 0 | (4,377) |
Limitations under IRC Sec 382 | (3,478) | (11,169) |
Accumulated depreciation | (3,914) | 0 |
Other | (4,187) | (3,537) |
Gross deferred tax liabilities | (42,129) | (36,036) |
Net deferred tax asset, included in other assets | $ 29,680 | $ 40,748 |
Note 8 - Income Taxes (Detail84
Note 8 - Income Taxes (Details) - Reconciliation of Income Tax Expense - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reconciliation of Income Tax Expense [Abstract] | |||
Computed at the statutory rate (35%) | $ 37,543 | $ 17,601 | $ 11,387 |
Increase (decrease) in taxes resulting from: | |||
State income taxes, net of federal tax benefit | 2,097 | 41 | 825 |
Tax exempt interest income | (4,708) | (3,774) | (2,739) |
Tax exempt earnings on BOLI | (724) | (499) | (461) |
Section 382 adjustment | (2,293) | 0 | 0 |
Other differences, net | 985 | 1,233 | 293 |
Actual tax provision | $ 32,900 | $ 14,602 | $ 9,305 |
Note 8 - Income Taxes (Detail85
Note 8 - Income Taxes (Details) - Reconciliation of Income Tax Expense (Parentheticals) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Reconciliation of Income Tax Expense [Abstract] | |||
Statutory rate | 35.00% | 35.00% | 35.00% |
Note 9 - Securities Sold Unde86
Note 9 - Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement | $ 96.8 | $ 100.8 |
Note 9 - Securities Sold Unde87
Note 9 - Securities Sold Under Agreements to Repurchase (Details) - Contractual Maturity of the Agreements - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Repurchase agreements: | ||
U.S. Government agencies | $ 96,800 | $ 100,800 |
US Government Agencies Debt Securities [Member] | ||
Repurchase agreements: | ||
U.S. Government agencies | 96,838 | 100,771 |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | ||
Repurchase agreements: | ||
U.S. Government agencies | 89,512 | 93,454 |
Maturity Less than 30 Days [Member] | US Government Agencies Debt Securities [Member] | ||
Repurchase agreements: | ||
U.S. Government agencies | 0 | 0 |
Maturity 30 to 90 Days [Member] | US Government Agencies Debt Securities [Member] | ||
Repurchase agreements: | ||
U.S. Government agencies | 0 | 0 |
Maturity Greater than 90 Days [Member] | US Government Agencies Debt Securities [Member] | ||
Repurchase agreements: | ||
U.S. Government agencies | $ 7,326 | $ 7,317 |
Note 10 - Other Borrowings an88
Note 10 - Other Borrowings and Subordinated Debentures (Details) - USD ($) | 1 Months Ended | 12 Months Ended | |
Oct. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 10 - Other Borrowings and Subordinated Debentures (Details) [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.85% | 3.85% | |
Repayments of Long-term Debt | $ 36,000,000 | ||
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months | $ 40,000,000 | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Repayment and Penalties | 23,200,000 | ||
Advances from Federal Home Loan Banks | 109,900,000 | ||
Advances from Federal Home Loan Bank Available | 965,000,000 | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | 1,100,000,000 | ||
Federal Home Loan Bank Advances [Member] | |||
Note 10 - Other Borrowings and Subordinated Debentures (Details) [Line Items] | |||
Extinguishment of Debt, Amount | 22,000,000 | ||
Payments of Debt Extinguishment Costs | 1,300,000 | ||
Interest Expense [Member] | Federal Home Loan Bank Advances [Member] | |||
Note 10 - Other Borrowings and Subordinated Debentures (Details) [Line Items] | |||
Gains (Losses) on Extinguishment of Debt | $ (782,000) | ||
Correspondent Banks [Member] | |||
Note 10 - Other Borrowings and Subordinated Debentures (Details) [Line Items] | |||
Debt Instrument, Face Amount | $ 52,300,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.85% | ||
Debt Instrument, Term | 10 years | ||
Debt Instrument, Periodic Payment Terms, Balloon Payment Term | 5 years |
Note 10 - Other Borrowings an89
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Other Borrowings | ||
Notes payable, due 10/15/2020, 3.85%, fixed rate, unsecured | $ 52,300 | $ 43,100 |
Total other borrowings | 162,289 | 114,682 |
Subordinated Debentures | ||
Trust preferred securities | 60,570 | 20,620 |
Total other borrowings and subordinated debentures | 222,859 | 135,302 |
Federal Home Loan Bank Advances [Member] | ||
Other Borrowings | ||
FHLB advances, net of discount, due 2016 to 2033, 0.35% to 7.37% secured by residential real estate loans | 109,989 | 71,582 |
Trust Preferred Securities Due 12/30/2033 [Member] | ||
Subordinated Debentures | ||
Trust preferred securities | 20,620 | $ 20,620 |
Trust Preferred Securities Due 6/30/2035 [Member] | ||
Subordinated Debentures | ||
Trust preferred securities | 9,723 | |
Trust Preferred Securities Due 9/15/2037 [Member] | ||
Subordinated Debentures | ||
Trust preferred securities | 9,975 | |
Trust Preferred Securities Due 12/3/2033 [Member] | ||
Subordinated Debentures | ||
Trust preferred securities | 5,167 | |
Trust Preferred Securities Due 12/13/2034 [Member] | ||
Subordinated Debentures | ||
Trust preferred securities | 5,063 | |
Trust Preferred Securities, Due 6/6/2037 [Member] | ||
Subordinated Debentures | ||
Trust preferred securities | $ 10,022 |
Note 10 - Other Borrowings an90
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Fixed rate | 3.85% | 3.85% |
Trust Preferred Securities Due 12/30/2033 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Floating rate | 2.80% | 2.80% |
Trust Preferred Securities Due 6/30/2035 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Floating rate | 1.75% | |
Trust Preferred Securities Due 9/15/2037 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Floating rate | 1.37% | |
Trust Preferred Securities Due 12/3/2033 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Floating rate | 2.88% | |
Trust Preferred Securities Due 12/13/2034 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Floating rate | 2.00% | |
Trust Preferred Securities, Due 6/6/2037 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Floating rate | 1.57% | |
Minimum [Member] | Federal Home Loan Bank Advances [Member] | ||
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Fixed rate | 0.35% | 0.35% |
Maximum [Member] | Federal Home Loan Bank Advances [Member] | ||
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Debt (Parentheticals) [Line Items] | ||
Fixed rate | 7.37% | 7.37% |
Note 10 - Other Borrowings an91
Note 10 - Other Borrowings and Subordinated Debentures (Details) - Aggregate Annual Maturities of Long-Term Debt $ in Thousands | Dec. 31, 2015USD ($) |
Aggregate Annual Maturities of Long-Term Debt [Abstract] | |
2,016 | $ 65,926 |
2,017 | 14,798 |
2,018 | 26,016 |
2,019 | 7,645 |
2,020 | 36,381 |
Thereafter | 72,093 |
Total | $ 222,859 |
Note 11 - Capital Stock (Detail
Note 11 - Capital Stock (Details) - USD ($) | Feb. 27, 2015 | Dec. 31, 2015 | Dec. 31, 2013 | Mar. 04, 2014 | Jul. 23, 2012 | Feb. 27, 2009 |
Note 11 - Capital Stock (Details) [Line Items] | ||||||
Preferred Stock, Shares Authorized | 40,040,000 | 40,040,000 | ||||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.01 | $ 0.01 | ||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 850,000 | |||||
Percent of Oustanding Stock | 5.00% | |||||
Stock Repurchased During Period, Shares | 419,564 | |||||
Stock Repurchased, Weighted Average Price (in Dollars per share) | $ 25.89 | |||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 154,136 | |||||
Shelf Registration Statement Max Capital Allowed to Raise (in Dollars) | $ 300,000,000 | |||||
Rate Through February 18, 2016 [Member] | ||||||
Note 11 - Capital Stock (Details) [Line Items] | ||||||
Preferred Stock, Dividend Rate, Percentage | 1.00% | |||||
Rate After February 18, 2016 [Member] | ||||||
Note 11 - Capital Stock (Details) [Line Items] | ||||||
Preferred Stock, Dividend Rate, Percentage | 9.00% | |||||
Community First Bancshares Inc [Member] | ||||||
Note 11 - Capital Stock (Details) [Line Items] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 30,852 | |||||
Community First Bancshares Inc [Member] | Preferred Class A [Member] | ||||||
Note 11 - Capital Stock (Details) [Line Items] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 30,852 | |||||
Maximum [Member] | ||||||
Note 11 - Capital Stock (Details) [Line Items] | ||||||
Preferred Stock, Liquidation Preference, Value (in Dollars) | $ 80,000,000 |
Note 12 - Transactions With R93
Note 12 - Transactions With Related Parties (Details) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Related Party Transactions [Abstract] | |||
Notes Receivable, Related Parties | $ 58,404 | $ 25,142 | $ 42,018 |
Note 12 - Transactions With R94
Note 12 - Transactions With Related Parties (Details) - Related Party Transactions, Extensions of Credit - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transactions, Extensions of Credit [Abstract] | ||
Balance, beginning of year | $ 25,142 | $ 42,018 |
New extensions of credit | 48,529 | 5,554 |
Repayments | (15,267) | (22,430) |
Balance, end of year | $ 58,404 | $ 25,142 |
Note 13 - Employee Benefit Pl95
Note 13 - Employee Benefit Plans (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 13 - Employee Benefit Plans (Details) [Line Items] | |||
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 5,230,000 | $ 3,659,000 | $ 3,076,000 |
Deferred Compensation Arrangement with Individual, Compensation Expense | 804,000 | 453,000 | 473,000 |
Allocated Share-based Compensation Expense | 4,018,000 | $ 1,366,000 | $ 1,417,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 1,442,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ 5,300,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 109 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 5,219,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 3,448,000 | ||
Share Price (in Dollars per share) | $ 51.36 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) | 71,368 | 64,720 | 24,290 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 2,054,000 | $ 957,000 | $ 298,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ 7.81 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 375,000 | 0 | 0 |
Employee Stock Purchase Plan 2011 [Member] | |||
Note 13 - Employee Benefit Plans (Details) [Line Items] | |||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 3.00% | ||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount | $ 7,500 | ||
Defined Contribution Plan, Requisite Service Period | 2 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 95.00% | ||
Special Employee Stock Purchase Plan 2015 [Member] | |||
Note 13 - Employee Benefit Plans (Details) [Line Items] | |||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount | $ 25,000 | ||
Defined Contribution Plan, Requisite Service Period | 2 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | ||
Retirement Plan 401k [Member] | |||
Note 13 - Employee Benefit Plans (Details) [Line Items] | |||
Defined Contribution Plan, Cost Recognized | $ 1,048,000 | $ 837,000 | $ 690,000 |
Note 13 - Employee Benefit Pl96
Note 13 - Employee Benefit Plans (Details) - Stock Compensation Plans - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Stock Compensation Plans [Abstract] | |||
Balance, December 31, 2012 | 120,000 | 185,000 | 218,000 |
Balance, December 31, 2012 | $ 27.72 | $ 27.04 | $ 26.77 |
Balance, December 31, 2012 | 227,000 | 145,000 | 134,000 |
Balance, December 31, 2012 | $ 31.88 | $ 26 | $ 25.89 |
Granted, stock options outstanding, number of shares | 375,000 | 0 | 0 |
Granted, stock options outstanding, weighted average excercise price | $ 44.69 | ||
Granted, non-vested stock awards outstanding, number of shares | 95,000 | 134,000 | 75,000 |
Granted, non-vested stock awards outstanding, | $ 43.45 | $ 37.51 | $ 26.89 |
Stock Options Exercised, stock options outstanding, number of shares | (71,368) | (64,720) | (24,290) |
Stock Options Exercised, stock options outstanding, weighted average excercise price | $ 22.57 | $ 25.86 | $ 24.88 |
Stock Options from Acquisitions | 66,000 | ||
Stock Options from Acquisitions | $ 20.43 | ||
Stock Awards Vested, non-vested stock awards outstanding, number of shares | (131,000) | (51,000) | (63,000) |
Stock Awards Vested, non-vested stock awards outstanding, weighted average excercise price | $ 34.77 | $ 30.62 | $ 26.82 |
Forfeited/Expired, stock options outstanding, number of shares | (5,000) | (9,000) | |
Forfeited/Expired, stock options outstanding, weighted average excercise price | $ 24.49 | $ 26.16 | |
Forfeited/Expired, non-vested stock awards outstanding, number of shares | (8,000) | (1,000) | (1,000) |
Forfeited/Expired, non-vested stock awards outstanding, weighted average excercise price | $ 35.36 | $ 26.54 | $ 26.54 |
Balance, December 31, stock options outstanding, number of shares | 485,000 | 120,000 | 185,000 |
Balance, December 31, stock options outstanding, weighted average excercise price | $ 40.59 | $ 27.72 | $ 27.04 |
Balance, December 31, non-vested stock awards outstanding, number of shares | 183,000 | 227,000 | 145,000 |
Balance, December 31, non-vested stock awards outstanding, weighted average excercise price | $ 35.65 | $ 31.88 | $ 26 |
Exercisable, December 31, 2015 | 238,000 | ||
Exercisable, December 31, 2015 | $ 36.90 |
Note 13 - Employee Benefit Pl97
Note 13 - Employee Benefit Plans (Details) - Stock Options Oustanding by Range of Exercise Prices shares in Thousands | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | $ 15.55 |
Range of excercise prices, maximum | $ 48.13 |
Options outstanding, number of shares (in Shares) | shares | 485 |
Options outstanding, weighted average remaining contractual life | 7 years 69 days |
Options outstanding, weighted average exercise price | $ 40.59 |
Options exercisable, number of shares (in Shares) | shares | 238 |
Options exercisable, weighted average excercise price | $ 36.90 |
Range01 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 15.55 |
Range of excercise prices, maximum | $ 21.29 |
Options outstanding, number of shares (in Shares) | shares | 24 |
Options outstanding, weighted average remaining contractual life | 4 years 313 days |
Options outstanding, weighted average exercise price | $ 19.41 |
Options exercisable, number of shares (in Shares) | shares | 13 |
Options exercisable, weighted average excercise price | $ 18.53 |
Range 02 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 21.51 |
Range of excercise prices, maximum | $ 21.51 |
Options outstanding, number of shares (in Shares) | shares | 2 |
Options outstanding, weighted average remaining contractual life | 4 years 18 days |
Options outstanding, weighted average exercise price | $ 21.51 |
Options exercisable, number of shares (in Shares) | shares | 2 |
Options exercisable, weighted average excercise price | $ 21.51 |
Range 03 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 26.19 |
Range of excercise prices, maximum | $ 26.19 |
Options outstanding, number of shares (in Shares) | shares | 25 |
Options outstanding, weighted average remaining contractual life | 138 days |
Options outstanding, weighted average exercise price | $ 26.19 |
Options exercisable, number of shares (in Shares) | shares | 25 |
Options exercisable, weighted average excercise price | $ 26.19 |
Range 04 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 28.42 |
Range of excercise prices, maximum | $ 28.42 |
Options outstanding, number of shares (in Shares) | shares | 27 |
Options outstanding, weighted average remaining contractual life | 1 year 131 days |
Options outstanding, weighted average exercise price | $ 28.42 |
Options exercisable, number of shares (in Shares) | shares | 27 |
Options exercisable, weighted average excercise price | $ 28.42 |
Range 05 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 30.31 |
Range of excercise prices, maximum | $ 30.31 |
Options outstanding, number of shares (in Shares) | shares | 30 |
Options outstanding, weighted average remaining contractual life | 2 years 98 days |
Options outstanding, weighted average exercise price | $ 30.31 |
Options exercisable, number of shares (in Shares) | shares | 30 |
Options exercisable, weighted average excercise price | $ 30.31 |
Range 06 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 40.57 |
Range of excercise prices, maximum | $ 40.57 |
Options outstanding, number of shares (in Shares) | shares | 49 |
Options outstanding, weighted average remaining contractual life | 7 years 229 days |
Options outstanding, weighted average exercise price | $ 40.57 |
Options exercisable, number of shares (in Shares) | shares | 49 |
Options exercisable, weighted average excercise price | $ 40.57 |
Range 07 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 40.72 |
Range of excercise prices, maximum | $ 40.72 |
Options outstanding, number of shares (in Shares) | shares | 2 |
Options outstanding, weighted average remaining contractual life | 8 years 321 days |
Options outstanding, weighted average exercise price | $ 40.72 |
Options exercisable, weighted average excercise price | 40.72 |
Range08 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 44.40 |
Range of excercise prices, maximum | $ 44.40 |
Options outstanding, number of shares (in Shares) | shares | 65 |
Options outstanding, weighted average remaining contractual life | 7 years 200 days |
Options outstanding, weighted average exercise price | $ 44.40 |
Options exercisable, number of shares (in Shares) | shares | 14 |
Options exercisable, weighted average excercise price | $ 44.40 |
Range09 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 45.50 |
Range of excercise prices, maximum | $ 45.50 |
Options outstanding, number of shares (in Shares) | shares | 258 |
Options outstanding, weighted average remaining contractual life | 9 years 18 days |
Options outstanding, weighted average exercise price | $ 45.50 |
Options exercisable, number of shares (in Shares) | shares | 77 |
Options exercisable, weighted average excercise price | $ 45.50 |
Range10 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Range of excercise prices, minimum | 48.13 |
Range of excercise prices, maximum | $ 48.13 |
Options outstanding, number of shares (in Shares) | shares | 3 |
Options outstanding, weighted average remaining contractual life | 9 years 259 days |
Options outstanding, weighted average exercise price | $ 48.13 |
Options exercisable, number of shares (in Shares) | shares | 1 |
Options exercisable, weighted average excercise price | $ 48.13 |
Note 13 - Employee Benefit Pl98
Note 13 - Employee Benefit Plans (Details) - Weighted-average Assumptions for the Fair Value of Stock Options | 12 Months Ended |
Dec. 31, 2015 | |
Weighted-average Assumptions for the Fair Value of Stock Options [Abstract] | |
Expected dividend yield | 2.06% |
Expected stock price volatility | 16.96% |
Risk-free interest rate | 2.17% |
Expected life of options (years) | 10 years |
Note 14 - Additional Cash Flo99
Note 14 - Additional Cash Flow Information (Details) - Additional Cash Flow Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 14 - Additional Cash Flow Information (Details) - Additional Cash Flow Information [Line Items] | |||
Interest paid | $ 21,700 | $ 14,274 | $ 11,908 |
Income taxes paid | 20,127 | 18,832 | 14,867 |
Transfers of Loans Not Covered by FDIC Loss Share to Foreclosed Assets Held-for-sale [Member] | |||
Note 14 - Additional Cash Flow Information (Details) - Additional Cash Flow Information [Line Items] | |||
Transfers of acquired balances transferred to other accounts | 16,456 | 5,145 | 7,358 |
Transfers of Loans Acquired Covered by FDIC Loss Share to Foreclosed Assets Covered by FDIC Loss Share [Member] | |||
Note 14 - Additional Cash Flow Information (Details) - Additional Cash Flow Information [Line Items] | |||
Transfers of acquired balances transferred to other accounts | 4,349 | 5,536 | 9,239 |
Transfers of Foreclosed Assets Covered by FDIC Loss Share to Foreclosed Assets Held for Sale [Member] | |||
Note 14 - Additional Cash Flow Information (Details) - Additional Cash Flow Information [Line Items] | |||
Transfers of acquired balances transferred to other accounts | 13,895 | 0 | 0 |
Transfers of Loans Acquired Covered by FDIC Loss Share, to Loans Acquired not Covered by FDIC Loss Share [Member] | |||
Note 14 - Additional Cash Flow Information (Details) - Additional Cash Flow Information [Line Items] | |||
Transfers of acquired balances transferred to other accounts | 88,922 | 0 | 0 |
Transfers of Premises Held-for-sale to Foreclosed Assets Held-for-sale [Member] | |||
Note 14 - Additional Cash Flow Information (Details) - Additional Cash Flow Information [Line Items] | |||
Transfers of acquired balances transferred to other accounts | $ 6,126 | $ 0 | $ 0 |
Note 14 - Additional Cash Fl100
Note 14 - Additional Cash Flow Information (Details) - Company Acquired Assets and Assumed Liabilities Under Purchase Method - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 14 - Additional Cash Flow Information (Details) - Company Acquired Assets and Assumed Liabilities Under Purchase Method [Line Items] | |||
Goodwill | $ 327,686 | $ 108,095 | |
Liberty Community, First Metropolitan, Delta Trust Acquisitions, and Ozark[Member] | |||
Note 14 - Additional Cash Flow Information (Details) - Company Acquired Assets and Assumed Liabilities Under Purchase Method [Line Items] | |||
Assets acquired | 2,995,359 | 417,386 | $ 919,340 |
Liabilities assumed | 2,679,947 | 378,967 | 883,664 |
Purchase price | 535,003 | 67,441 | 53,600 |
Goodwill | $ 219,591 | $ 29,022 | $ 17,924 |
Note 15 - Other Operating Ex101
Note 15 - Other Operating Expenses (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 15 - Other Operating Expenses (Details) [Line Items] | |||
Equipment Expense | $ 14,352,000 | $ 9,325,000 | $ 7,623,000 |
Equipment Rentals [Member] | |||
Note 15 - Other Operating Expenses (Details) [Line Items] | |||
Equipment Expense | 2,600,000 | 1,900,000 | 1,700,000 |
Leasing of ATMs [Member] | |||
Note 15 - Other Operating Expenses (Details) [Line Items] | |||
Equipment Expense | 1,463,000 | 1,283,000 | |
Occupancy Expense [Member] | |||
Note 15 - Other Operating Expenses (Details) [Line Items] | |||
Operating Leases, Rent Expense | $ 4,216,000 | $ 3,706,000 | $ 2,385,000 |
Note 15 - Other Operating Ex102
Note 15 - Other Operating Expenses (Details) - Other Operating Expenses - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Other Operating Expenses [Abstract] | |||
Professional services | $ 9,583 | $ 7,516 | $ 4,473 |
Postage | 4,219 | 3,383 | 2,531 |
Telephone | 4,817 | 2,957 | 2,323 |
Credit card expense | 9,157 | 8,699 | 6,869 |
Operating supplies | 2,395 | 1,964 | 1,511 |
Amortization of intangibles | 4,889 | 1,979 | 600 |
Branch right sizing expense | 3,297 | 4,721 | 641 |
Other expense | 26,338 | 17,803 | 13,934 |
Total | $ 64,695 | $ 49,022 | $ 32,882 |
Note 16 - Disclosures About 103
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) [Line Items] | ||
Real Estate Acquired Through Foreclosure | $ 44,820,000 | $ 44,856,000 |
Impaired Financing Receivable, Related Allowance | 2,831,000 | 2,075,000 |
Foreclosed Assets Not Covered By FDIC Loss Share [Member] | ||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) [Line Items] | ||
Real Estate Acquired Through Foreclosure | 44,900,000 | 56,600,000 |
Special Mention or Worse [Member] | ||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) [Line Items] | ||
Collateral Dependent Loans Amount at Which Testing Begins | 500,000 | |
Collateral Dependent Loans Amount At Which All Loans Are Tested | 1,500,000 | |
Collateral Dependent Loans [Member] | ||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) [Line Items] | ||
Impaired Financing Receivable, Related Allowance | $ 1,136,000 | $ 733,000 |
Minimum [Member] | Commercial and Residential Real Estate Collateral [Member] | ||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) [Line Items] | ||
Fair Value Percentage of Collateral Discount | 10.00% | |
Maximum [Member] | Commercial and Residential Real Estate Collateral [Member] | ||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) [Line Items] | ||
Fair Value Percentage of Collateral Discount | 40.00% |
Note 16 - Disclosures About 104
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - Fair Value of Financial Assets Measured on a Recurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Available-for-sale securities | ||
Available-for-sale securities | $ 821,407 | $ 305,283 |
Assets held in trading accounts | 4,422 | 6,987 |
US Treasury Securities [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 3,994 | 3,992 |
US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 120,237 | 272,816 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 647,426 | 1,572 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 9,874 | 6,540 |
Other Securities [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 39,876 | 20,363 |
Other securities | 39,876 | 20,363 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale securities | ||
Assets held in trading accounts | 2,409 | 3,320 |
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 3,994 | 3,992 |
Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale securities | ||
Assets held in trading accounts | 2,013 | 3,667 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 120,237 | 272,816 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 647,426 | 1,572 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities | ||
Available-for-sale securities | 9,874 | 6,540 |
Fair Value, Inputs, Level 2 [Member] | Other Securities [Member] | ||
Available-for-sale securities | ||
Other securities | $ 39,876 | $ 20,363 |
Note 16 - Disclosures About 105
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - Fair Value of Financial Assets Measured on a Nonrecurring Basis - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - Fair Value of Financial Assets Measured on a Nonrecurring Basis [Line Items] | |||
Impaired loans | $ 18,190 | $ 14,669 | |
Fair Value, Measurements, Nonrecurring [Member] | |||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - Fair Value of Financial Assets Measured on a Nonrecurring Basis [Line Items] | |||
Impaired loans | [1],[2] | 19,027 | 12,276 |
Foreclosed assets held for sale | [2] | $ 14,459 | $ 3,417 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - Fair Value of Financial Assets Measured on a Nonrecurring Basis [Line Items] | |||
Impaired loans | [1],[2] | ||
Foreclosed assets held for sale | [2] | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - Fair Value of Financial Assets Measured on a Nonrecurring Basis [Line Items] | |||
Impaired loans | [1],[2] | ||
Foreclosed assets held for sale | [2] | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - Fair Value of Financial Assets Measured on a Nonrecurring Basis [Line Items] | |||
Impaired loans | [1],[2] | $ 19,027 | $ 12,276 |
Foreclosed assets held for sale | [2] | $ 14,459 | $ 3,417 |
[1] | Specific allocations of $1,136,000 and $733,000 were related to the impaired collateral dependent loans for which fair value re-measurements took placeduring the period, as of December 31, 2015 and 2014, respectively. | ||
[2] | These amounts represent the resulting carrying amounts on the Consolidated Balance Sheets for impaired collateral dependent loans and foreclosed assetsheld for sale for which fair value re-measurements took place during the period. |
Note 16 - Disclosures About 106
Note 16 - Disclosures About Fair Value of Financial Instruments (Details) - Estimated Fair Values and Related Carrying Amounts of Financial Instruments - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financial assets: | ||
Financial Assets, Carrying Amount | $ 7,559,658 | $ 4,643,354 |
Financial liabilities: | ||
Financial Liabilities, Carrying Amount | 6,482,803 | 4,149,035 |
Cash and Cash Equivalents [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 252,262 | 335,909 |
Financial Assets, Fair Value Measurement | 252,262 | 335,909 |
Interest Bearing Balances Due from Banks - Time [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 14,107 | |
Financial Assets, Fair Value Measurement | 14,105 | |
Held-to-Maturity Securities [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 705,373 | 777,587 |
Financial Assets, Fair Value Measurement | 713,371 | 780,533 |
Mortgage Loans Held For Sale [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 30,265 | 21,265 |
Financial Assets, Fair Value Measurement | 30,265 | 21,265 |
Interest Receivable [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 25,793 | 16,774 |
Financial Assets, Fair Value Measurement | 25,793 | 16,774 |
Loans1 [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 3,215,103 | 2,024,693 |
Financial Assets, Fair Value Measurement | 3,204,153 | 2,022,889 |
Loans Acquired, Not Covered By FDIC Loss Share [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 1,672,901 | 575,980 |
Financial Assets, Fair Value Measurement | 1,667,204 | 560,651 |
Loans Acquired, Covered by FDIC Loss Share [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 106,933 | |
Financial Assets, Fair Value Measurement | 105,789 | |
FDIC Indemnification Asset [Member] | ||
Financial assets: | ||
Financial Assets, Carrying Amount | 22,663 | |
Financial Assets, Fair Value Measurement | 22,663 | |
Non-Interest Bearing Transaction Accounts [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Carrying Amount | 1,280,234 | 889,260 |
Financial Liabilities, Fair Value Measurement | 1,280,234 | 889,260 |
Interest Bearing Transaction Accounts and Savings Deposits [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Carrying Amount | 3,485,845 | 2,006,271 |
Financial Liabilities, Fair Value Measurement | 3,485,845 | 2,006,271 |
Time Deposits [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Carrying Amount | 1,320,017 | 965,187 |
Financial Liabilities, Fair Value Measurement | 1,315,254 | 967,900 |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Carrying Amount | 99,398 | 110,586 |
Financial Liabilities, Fair Value Measurement | 99,398 | 110,586 |
Other Borrowings [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Carrying Amount | 162,289 | 114,682 |
Financial Liabilities, Fair Value Measurement | 168,254 | 114,698 |
Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Carrying Amount | 60,570 | 20,620 |
Financial Liabilities, Fair Value Measurement | 55,954 | 16,115 |
Interest Payable [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Carrying Amount | 1,800 | 1,147 |
Financial Liabilities, Fair Value Measurement | 1,800 | 1,147 |
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 252,262 | 335,909 |
Fair Value, Inputs, Level 2 [Member] | Interest Bearing Balances Due from Banks - Time [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 14,105 | |
Fair Value, Inputs, Level 2 [Member] | Held-to-Maturity Securities [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 713,371 | 780,533 |
Fair Value, Inputs, Level 2 [Member] | Interest Receivable [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 25,793 | 16,774 |
Fair Value, Inputs, Level 2 [Member] | Non-Interest Bearing Transaction Accounts [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Fair Value Measurement | 1,280,234 | 889,260 |
Fair Value, Inputs, Level 2 [Member] | Interest Bearing Transaction Accounts and Savings Deposits [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Fair Value Measurement | 3,485,845 | 2,006,271 |
Fair Value, Inputs, Level 2 [Member] | Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Fair Value Measurement | 99,398 | 110,586 |
Fair Value, Inputs, Level 2 [Member] | Other Borrowings [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Fair Value Measurement | 168,254 | 114,698 |
Fair Value, Inputs, Level 2 [Member] | Subordinated Debentures [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Fair Value Measurement | 55,954 | 16,115 |
Fair Value, Inputs, Level 2 [Member] | Interest Payable [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Fair Value Measurement | 1,800 | 1,147 |
Fair Value, Inputs, Level 3 [Member] | Mortgage Loans Held For Sale [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 30,265 | 21,265 |
Fair Value, Inputs, Level 3 [Member] | Loans1 [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 3,204,153 | 2,022,889 |
Fair Value, Inputs, Level 3 [Member] | Loans Acquired, Not Covered By FDIC Loss Share [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 1,667,204 | 560,651 |
Fair Value, Inputs, Level 3 [Member] | Loans Acquired, Covered by FDIC Loss Share [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 105,789 | |
Fair Value, Inputs, Level 3 [Member] | FDIC Indemnification Asset [Member] | ||
Financial assets: | ||
Financial Assets, Fair Value Measurement | 22,663 | |
Fair Value, Inputs, Level 3 [Member] | Time Deposits [Member] | ||
Financial liabilities: | ||
Financial Liabilities, Fair Value Measurement | $ 1,315,254 | $ 967,900 |
Note 17 - Commitments and Cr107
Note 17 - Commitments and Credit Risk (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 17 - Commitments and Credit Risk (Details) [Line Items] | ||
Letters of Credit Outstanding, Amount | $ 23,515,000 | $ 16,217,000 |
Standby Letters of Credit [Member] | ||
Note 17 - Commitments and Credit Risk (Details) [Line Items] | ||
Deferred Revenue | 0 | 13,000 |
Credit Card Commitments to Extend Credit [Member] | ||
Note 17 - Commitments and Credit Risk (Details) [Line Items] | ||
Commitments and Contingencies | 497,961,000 | 480,653,000 |
Other Loan Commitments to Extend Credit [Member] | ||
Note 17 - Commitments and Credit Risk (Details) [Line Items] | ||
Commitments and Contingencies | $ 805,673,000 | $ 439,053,000 |
Minimum [Member] | ||
Note 17 - Commitments and Credit Risk (Details) [Line Items] | ||
Letters of Credit Term | 9 months | |
Maximum [Member] | ||
Note 17 - Commitments and Credit Risk (Details) [Line Items] | ||
Letters of Credit Term | 15 years | |
Maximum [Member] | Bonds Issued by a Single Municipality as a Percentage of the Investment Portfolio [Member] | ||
Note 17 - Commitments and Credit Risk (Details) [Line Items] | ||
Concentration Risk, Percentage | 5.00% |
Note 20 - Stockholders' Equi108
Note 20 - Stockholders' Equity (Details) $ in Millions | Dec. 31, 2015USD ($) |
Stockholders' Equity Note [Abstract] | |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 8.2 |
Note 20 - Stockholders' Equi109
Note 20 - Stockholders' Equity (Details) - Company's Significant Subsidiaries - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Simmons First National Corporation [Member] | ||
Total Risk-Based Capital Ratio | ||
Total risk-based capital, actual, amount | $ 843,227 | $ 435,185 |
Total risk-based capital, actual, ratio | 16.70% | 14.50% |
Total risk-based capital, minimum for capital adequacy purposes, amount | $ 403,941 | $ 240,102 |
Total risk-based capital, minimum for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total risk-based capital, to be well capitalized under prompt corrective action provision, amount | ||
Tier 1 Risk-Based Capital Ratio | ||
Tier 1 risk-based capital, actual, amount | $ 808,159 | $ 403,110 |
Tier 1 risk-based capital, actual, ratio | 16.00% | 13.40% |
Tier 1 risk-based capital, minimum for capital adequacy purposes, amount | $ 303,060 | $ 120,331 |
Tier 1 risk-based capital, minimum for capital adequacy purposes, ratio | 6.00% | 4.00% |
Tier 1 risk-based capital, to be well capitalized under prompt corrective action provision, amount | ||
Common Equity Tier 1 Capital Ratio | ||
Common equity tier 1, actual, amount | $ 716,737 | |
Common equity tier 1, actual, ratio | 14.20% | |
Common equity tier 1, minimum for capital adequacy purposes, amount | $ 227,135 | |
Common equity tier 1, minimum for capital adequacy purposes, ratio | 4.50% | |
Common equity tier 1, to be well capitalized under prompt corrective action provision, amount | ||
Tier 1 Leverage Ratio | ||
Tier 1 leverage ratio, actual, amount | $ 808,159 | $ 403,110 |
Tier 1 leverage ratio, actual, ratio | 11.20% | 8.80% |
Tier 1 leverage ratio, minimum for capital adequacy purposes, amount | $ 288,628 | $ 183,232 |
Tier 1 leverage ratio, minimum for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 leverage ratio, to be well capitalized under prompt corrective action provision, amount | ||
Simmons First National Bank [Member] | ||
Total Risk-Based Capital Ratio | ||
Total risk-based capital, actual, amount | $ 734,170 | $ 432,590 |
Total risk-based capital, actual, ratio | 14.60% | 14.50% |
Total risk-based capital, minimum for capital adequacy purposes, amount | $ 402,285 | $ 238,670 |
Total risk-based capital, minimum for capital adequacy purposes, ratio | 8.00% | 8.00% |
Total risk-based capital, to be well capitalized under prompt corrective action provision, amount | $ 502,856 | $ 298,338 |
Total risk-based capital, to be well capitalized under prompt corrective action provision, ratio | 10.00% | 10.00% |
Tier 1 Risk-Based Capital Ratio | ||
Tier 1 risk-based capital, actual, amount | $ 699,102 | $ 405,834 |
Tier 1 risk-based capital, actual, ratio | 13.90% | 13.60% |
Tier 1 risk-based capital, minimum for capital adequacy purposes, amount | $ 301,771 | $ 119,363 |
Tier 1 risk-based capital, minimum for capital adequacy purposes, ratio | 6.00% | 4.00% |
Tier 1 risk-based capital, to be well capitalized under prompt corrective action provision, amount | $ 402,361 | $ 179,044 |
Tier 1 risk-based capital, to be well capitalized under prompt corrective action provision, ratio | 8.00% | 6.00% |
Common Equity Tier 1 Capital Ratio | ||
Common equity tier 1, actual, amount | $ 699,102 | |
Common equity tier 1, actual, ratio | 13.90% | |
Common equity tier 1, minimum for capital adequacy purposes, amount | $ 226,328 | |
Common equity tier 1, minimum for capital adequacy purposes, ratio | 4.50% | |
Common equity tier 1, to be well capitalized under prompt corrective action provision, amount | $ 326,918 | |
Common equity tier 1, to be well capitalized under prompt corrective action provision, ratio | 6.50% | |
Tier 1 Leverage Ratio | ||
Tier 1 leverage ratio, actual, amount | $ 699,102 | $ 405,834 |
Tier 1 leverage ratio, actual, ratio | 9.70% | 8.90% |
Tier 1 leverage ratio, minimum for capital adequacy purposes, amount | $ 288,289 | $ 182,397 |
Tier 1 leverage ratio, minimum for capital adequacy purposes, ratio | 4.00% | 4.00% |
Tier 1 leverage ratio, to be well capitalized under prompt corrective action provision, amount | $ 360,362 | $ 227,997 |
Tier 1 leverage ratio, to be well capitalized under prompt corrective action provision, ratio | 5.00% | 5.00% |
Note 22 - Condensed Financia110
Note 22 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
ASSETS | ||||
Cash and cash equivalents | $ 252,262 | $ 335,909 | ||
Investment securities | 1,526,780 | 1,082,870 | ||
Premises and equipment | 193,618 | 122,246 | ||
Other assets | 66,205 | 55,326 | ||
TOTAL ASSETS | 7,559,658 | 4,643,354 | ||
LIABILITIES | ||||
Long-term debt | 222,859 | |||
Total liabilities | 6,482,803 | 4,149,035 | ||
STOCKHOLDERS’ EQUITY | ||||
Preferred stock | 30,852 | |||
Common stock | 303 | 181 | ||
Surplus | 662,378 | 156,568 | ||
Undivided profits | 385,987 | 338,906 | ||
Accumulated other comprehensive loss | ||||
Total stockholders’ equity | 1,076,855 | 494,319 | $ 403,832 | $ 406,062 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 7,559,658 | 4,643,354 | ||
Parent Company [Member] | ||||
ASSETS | ||||
Cash and cash equivalents | 119,383 | 17,537 | ||
Investment securities | 2,049 | 1,660 | ||
Investments in wholly-owned subsidiaries | 1,051,842 | 522,841 | ||
Intangible assets, net | 133 | 133 | ||
Premises and equipment | 5,338 | 5,711 | ||
Other assets | 28,245 | 14,301 | ||
TOTAL ASSETS | 1,206,990 | 562,183 | ||
LIABILITIES | ||||
Long-term debt | 112,870 | 63,720 | ||
Other liabilities | 17,265 | 4,144 | ||
Total liabilities | 130,135 | 67,864 | ||
STOCKHOLDERS’ EQUITY | ||||
Preferred stock | 30,852 | |||
Common stock | 303 | 181 | ||
Surplus | 662,378 | 156,568 | ||
Undivided profits | 385,987 | 338,906 | ||
Accumulated other comprehensive loss | ||||
Unrealized depreciation on available-for-sale securities, net of income taxes of ($1,720) and ($862) at December 31, 2015 and 2014 respectively | (2,665) | (1,336) | ||
Total stockholders’ equity | 1,076,855 | 494,319 | ||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,206,990 | $ 562,183 |
Note 22 - Condensed Financia111
Note 22 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Parent Company [Member] | ||
Condensed Balance Sheet Statements, Captions [Line Items] | ||
Unrealized depreciation on available-for-sale securities, net of income taxes | $ 1,720 | $ 862 |
Note 22 - Condensed Financia112
Note 22 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
INCOME | |||
Provision for income taxes | $ 32,900 | $ 14,602 | $ 9,305 |
NET INCOME | 74,364 | 35,688 | 23,231 |
Preferred stock dividends | 257 | ||
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS | 74,107 | 35,688 | 23,231 |
Parent Company [Member] | |||
INCOME | |||
Dividends from subsidiaries | 84,128 | 43,366 | 23,051 |
Other income | 2,303 | 6,927 | 8,409 |
Income | 86,431 | 50,293 | 31,460 |
EXPENSE | 24,594 | 23,024 | 17,839 |
Income before income taxes and equity in undistributed net income of subsidiaries | 61,837 | 27,269 | 13,621 |
Provision for income taxes | (8,251) | (6,330) | (3,510) |
Income before equity in undistributed net income of subsidiaries | 70,088 | 33,599 | 17,131 |
Equity in undistributed net income of subsidiaries | 4,276 | 2,089 | 6,100 |
NET INCOME | 74,364 | 35,688 | 23,231 |
Preferred stock dividends | 257 | ||
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS | $ 74,107 | $ 35,688 | $ 23,231 |
Note 22 - Condensed Financia113
Note 22 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 22 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Statements of Comprehensive Income [Line Items] | |||
NET INCOME | $ 74,364 | $ 35,688 | $ 23,231 |
OTHER COMPREHENSIVE INCOME | |||
Equity in other comprehensive (loss) income of subsidiaries | (1,329) | 1,666 | (3,259) |
COMPREHENSIVE INCOME | 73,035 | 37,354 | 19,972 |
Parent Company [Member] | |||
Note 22 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Statements of Comprehensive Income [Line Items] | |||
NET INCOME | 74,364 | 35,688 | 23,231 |
OTHER COMPREHENSIVE INCOME | |||
Equity in other comprehensive (loss) income of subsidiaries | (1,329) | 1,666 | (3,259) |
COMPREHENSIVE INCOME | $ 73,035 | $ 37,354 | $ 19,972 |
Note 22 - Condensed Financia114
Note 22 - Condensed Financial Information (Parent Company Only) (Details) - Condensed Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | $ 74,364 | $ 35,688 | $ 23,231 |
Items not requiring (providing) cash | |||
Stock-based compensation expense | 4,018 | 1,423 | 1,417 |
Deferred income taxes | 13,599 | (9,029) | (4,618) |
Changes in | |||
Other assets | 5,453 | (17,313) | 6,047 |
Net cash provided by operating activities | 88,698 | 11,620 | 36,089 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Net cash provided by (used in) investing activities | 130,374 | 12,242 | 8,395 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Payment to repurchase common stock | (10,848) | ||
Dividends paid on preferred stock | (257) | ||
Dividends paid on common stock | (27,026) | (15,359) | (13,707) |
Net cash used in financing activities | (302,719) | (227,333) | (42,901) |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (83,647) | (203,471) | 1,583 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 335,909 | 539,380 | 537,797 |
CASH AND CASH EQUIVALENTS, END OF YEAR | 252,262 | 335,909 | 539,380 |
Parent Company [Member] | |||
CASH FLOWS FROM OPERATING ACTIVITIES | |||
Net income | 74,364 | 35,688 | 23,231 |
Items not requiring (providing) cash | |||
Stock-based compensation expense | 4,018 | 1,423 | 1,417 |
Depreciation and amortization | 317 | 139 | 145 |
Deferred income taxes | 1,287 | 1,338 | 81 |
Equity in undistributed net income of bank subsidiaries | (4,276) | (2,089) | (6,100) |
Changes in | |||
Other assets | (15,232) | (1,296) | 19,978 |
Other liabilities | 13,121 | (1,103) | 1,891 |
Net cash provided by operating activities | 73,599 | 34,100 | 40,643 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||
Net purchases of premises and equipment | 56 | (5,435) | (174) |
Additional investment in subsidiary | 288 | (27,400) | |
Purchases of available-for-sale securities | (354) | 1,504 | (1) |
Cash received (paid) in business combinations | 44,173 | (1,640) | (53,600) |
Net cash provided by (used in) investing activities | 43,875 | (5,283) | (81,175) |
CASH FLOWS FROM FINANCING ACTIVITIES | |||
Issuance (repayment) of long-term debt | 8,126 | (2,900) | 46,000 |
Issuance of common stock, net | 3,529 | 2,023 | 936 |
Payment to repurchase common stock | (10,848) | ||
Dividends paid on preferred stock | (257) | ||
Dividends paid on common stock | (27,026) | (15,359) | (13,707) |
Net cash used in financing activities | (15,628) | (16,236) | 22,381 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 101,846 | 12,581 | (18,151) |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 17,537 | 4,956 | 23,107 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $ 119,383 | $ 17,537 | $ 4,956 |