Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Jul. 31, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | SIMMONS FIRST NATIONAL CORP | |
Entity Central Index Key | 90,498 | |
Trading Symbol | sfnc | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 30,416,627 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and non-interest bearing balances due from banks | $ 96,037 | $ 97,656 |
Interest bearing balances due from banks | 151,570 | 154,606 |
Federal funds sold | 3,000 | |
Cash and cash equivalents | 250,607 | 252,262 |
Interest bearing balances due from banks - time | 9,781 | 14,107 |
Held-to-maturity | 632,154 | 705,373 |
Available-for-sale | 821,372 | 821,407 |
Total investments | 1,453,526 | 1,526,780 |
Mortgage loans held for sale | 30,529 | 30,265 |
Assets held in trading accounts | 7,321 | 4,422 |
Loans: | ||
Legacy loans | 3,725,422 | 3,246,454 |
Allowance for loan losses | (33,523) | (31,351) |
Loans acquired, net of discount and allowance | 1,288,435 | 1,672,901 |
Net loans | 4,980,334 | 4,888,004 |
Premises and equipment | 183,362 | 193,618 |
Premises held for sale | 6,167 | 923 |
Foreclosed assets | 30,529 | 44,820 |
Interest receivable | 24,150 | 25,793 |
Bank owned life insurance | 130,943 | 131,536 |
Goodwill | 327,686 | 327,686 |
Other intangible assets | 50,329 | 53,237 |
Other assets | 48,955 | 66,205 |
Total assets | 7,534,219 | 7,559,658 |
Deposits: | ||
Non-interest bearing transaction accounts | 1,283,426 | 1,280,234 |
Interest bearing transaction accounts and savings deposits | 3,538,808 | 3,485,845 |
Time deposits | 1,205,969 | 1,320,017 |
Total deposits | 6,028,203 | 6,086,096 |
Federal funds purchased and securities sold under agreements to repurchase | 103,038 | 99,398 |
Other borrowings | 191,827 | 162,289 |
Subordinated debentures | 60,184 | 60,570 |
Accrued interest and other liabilities | 60,256 | 74,450 |
Total liabilities | 6,443,508 | 6,482,803 |
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; 30,415,980 and 30,278,432 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively | 304 | 303 |
Surplus | 668,306 | 662,378 |
Undivided profits | 417,863 | 385,987 |
Accumulated other comprehensive income (loss) | 4,238 | (2,665) |
Total stockholders’ equity | 1,090,711 | 1,076,855 |
Total liabilities and stockholders’ equity | $ 7,534,219 | $ 7,559,658 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2016 | Dec. 31, 2015 |
Preferred stock, par value (in dollars per share) | $ 0.01 | |
Preferred stock, liquidation value (in dollars per share) | $ 1,000 | |
Preferred stock, shares authorized (in shares) | 40,040,000 | |
Preferred stock, shares issued (in shares) | 30,852 | |
Preferred stock, shares outstanding (in shares) | 30,852 | |
Common stock Class A, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock Class A, shares authorized (in shares) | 120,000,000 | 120,000,000 |
Common stock Class A, shares issued (in shares) | 30,415,980 | 30,278,432 |
Common stock Class A, shares outstanding (in shares) | 30,415,980 | 30,278,432 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
INTEREST INCOME | |||||
Loans | $ 63,009,000 | $ 70,438,000 | $ 129,688,000 | $ 121,424,000 | |
Federal funds sold | 17,000 | 73,000 | 27,000 | 102,000 | |
Investment securities | 8,499,000 | 8,050,000 | 17,005,000 | 13,929,000 | |
Mortgage loans held for sale | 295,000 | 375,000 | 572,000 | 522,000 | |
Assets held in trading accounts | 3,000 | 4,000 | 9,000 | 8,000 | |
Interest bearing balances due from banks | 77,000 | 229,000 | 220,000 | 439,000 | |
TOTAL INTEREST INCOME | 71,900,000 | 79,169,000 | 147,521,000 | 136,424,000 | |
INTEREST EXPENSE | |||||
Deposits | 3,776,000 | 4,195,000 | 7,430,000 | 7,139,000 | |
Federal funds purchased and securities sold under agreements to repurchase | 59,000 | 57,000 | 125,000 | 121,000 | |
Other borrowings | 938,000 | 1,151,000 | 2,065,000 | 2,203,000 | |
Subordinated debentures | 544,000 | 559,000 | 1,087,000 | 793,000 | |
TOTAL INTEREST EXPENSE | 5,317,000 | 5,962,000 | 10,707,000 | 10,256,000 | |
NET INTEREST INCOME | 66,583,000 | 73,207,000 | 136,814,000 | 126,168,000 | |
Provision for loan losses | 4,616,000 | 3,006,000 | 7,439,000 | 4,177,000 | |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 61,967,000 | 70,201,000 | 129,375,000 | 121,991,000 | |
NON-INTEREST INCOME | |||||
Trust income | 3,656,000 | 2,070,000 | 7,287,000 | 4,321,000 | |
Service charges on deposit accounts | 7,661,000 | 8,031,000 | 14,977,000 | 14,394,000 | |
Other service charges and fees | 1,571,000 | 2,766,000 | 3,480,000 | 4,430,000 | |
Mortgage lending income | 5,877,000 | 3,449,000 | 9,670,000 | 5,710,000 | |
Investment banking income | 1,181,000 | 593,000 | 1,865,000 | 1,487,000 | |
Debit and credit card fees | 7,688,000 | 6,486,000 | 14,888,000 | 12,134,000 | |
Bank owned life insurance income | 826,000 | 746,000 | 1,824,000 | 1,318,000 | |
Gain (loss) on sale of securities | 3,759,000 | 4,088,000 | (38,000) | ||
Net (loss) on assets covered by FDIC loss share agreements | (3,056,000) | (5,727,000) | |||
Other income | 4,669,000 | 3,863,000 | 8,318,000 | 5,253,000 | |
TOTAL NON-INTEREST INCOME | 36,888,000 | 24,948,000 | 66,397,000 | 43,282,000 | |
NON-INTEREST EXPENSE | |||||
Salaries and employee benefits | 33,103,000 | 35,111,000 | 67,877,000 | 61,721,000 | |
Occupancy expense, net | 4,990,000 | 5,051,000 | 9,461,000 | 8,627,000 | |
Furniture and equipment expense | 4,077,000 | 3,241,000 | 8,023,000 | 6,420,000 | |
Other real estate and foreclosure expense | 967,000 | 1,017,000 | 1,934,000 | 1,398,000 | |
Deposit insurance | 1,096,000 | 1,096,000 | 2,244,000 | 1,966,000 | |
Merger related costs | 372,000 | 1,247,000 | 465,000 | 11,666,000 | |
Other operating expenses | 19,532,000 | 18,041,000 | 35,927,000 | 30,213,000 | |
TOTAL NON-INTEREST EXPENSE | 64,137,000 | 64,804,000 | 125,931,000 | 122,011,000 | |
INCOME BEFORE INCOME TAXES | 34,718,000 | 30,345,000 | 69,841,000 | 43,262,000 | |
Provision for income taxes | 11,809,000 | 10,250,000 | 23,427,000 | 14,432,000 | |
NET INCOME | 22,909,000 | 20,095,000 | 46,414,000 | 28,830,000 | |
Preferred stock dividends | 77,000 | 24,000 | 103,000 | ||
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS | $ 22,909,000 | $ 20,018,000 | $ 46,390,000 | $ 28,727,000 | |
BASIC EARNINGS PER SHARE (in dollars per share) | $ 0.75 | $ 0.67 | $ 1.53 | $ 1.10 | |
DILUTED EARNINGS PER SHARE (in dollars per share) | [1],[2] | $ 0.75 | $ 0.67 | $ 1.52 | $ 1.10 |
[1] | EPS are computed independently for each quarter and therefore the sum of each quarterly EPS may not equal the year-to-date EPS. As a result of the large stock issuances during 2015 as part of the Companys acquisitions, the computed independent quarterly average common shares outstanding and the computed year-to-date average common shares differ significantly. For purposes of calculating a roll-forward amount for 2015 year-to-date EPS, diluted EPS for the second quarter of 2015 would require a computed amount of $0.71, producing a difference of $.04 from actual second quarter diluted EPS of $0.67. This difference is based on the direct result of the varying denominator for each period presented. | ||||
[2] | Stock options to purchase 258,255 and 65,005 shares for the three and six months ended June 30, 2016 and 2015, respectively, were not included in the diluted EPS calculation because the exercise price of those options exceeded the average market price. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income | $ 22,909 | $ 20,095 | $ 46,414 | $ 28,830 |
OTHER COMPREHENSIVE INCOME | ||||
Unrealized holding gains (losses) arising during the period on available-for-sale securities | 4,865 | (5,356) | 15,446 | (143) |
Less: Reclassification adjustment for realized gains (losses) included in net income | 3,759 | 4,088 | (38) | |
Other comprehensive gain (loss), before tax effect | 1,106 | (5,356) | 11,358 | (105) |
Less: Tax effect of other comprehensive gain (loss) | 434 | (2,101) | 4,455 | (41) |
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 672 | (3,255) | 6,903 | (64) |
COMPREHENSIVE INCOME | $ 23,581 | $ 16,840 | $ 53,317 | $ 28,766 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2015 | |
OPERATING ACTIVITIES | ||||||
Net income | $ 22,909,000 | $ 20,095,000 | $ 46,414,000 | $ 45,534,000 | $ 28,830,000 | |
Adjustments to reconcile net income to net cash (used in) provided by operating activities: | ||||||
Depreciation and amortization | 8,039,000 | 6,945,000 | ||||
Provision for loan losses | 4,616,000 | 3,006,000 | 7,439,000 | 4,177,000 | ||
(Gain) loss on sale of available-for-sale securities | (4,088,000) | 38,000 | ||||
Net accretion of investment securities and assets not covered by FDIC loss share | (7,733,000) | (9,829,000) | ||||
Net amortization on borrowings | 208,000 | 150,000 | ||||
Stock-based compensation expense | 1,719,000 | 1,077,000 | ||||
Net accretion on assets covered by FDIC loss share | (119,000) | |||||
Loss on sale of premises and equipment, net of impairment | 3,000,000 | 1,958,000 | ||||
Gain on sale of foreclosed assets held for sale | (1,180,000) | (683,000) | ||||
Deferred income taxes | 615,000 | (1,772,000) | ||||
Increase in cash surrender value of bank owned life insurance | (826,000) | (746,000) | (1,824,000) | (1,318,000) | ||
Originations of mortgage loans held for sale | (293,929,000) | (466,149,000) | ||||
Proceeds from sale of mortgage loans held for sale | 293,665,000 | 439,320,000 | ||||
Changes in assets and liabilities: | ||||||
Interest receivable | 1,643,000 | 2,377,000 | ||||
Assets held in trading accounts | (2,899,000) | 506,000 | ||||
Other assets | 17,239,000 | (3,178,000) | ||||
Accrued interest and other liabilities | (11,088,000) | 8,276,000 | ||||
Income taxes payable | (3,142,000) | 6,846,000 | ||||
Net cash provided by operating activities | 54,098,000 | 17,452,000 | ||||
INVESTING ACTIVITIES | ||||||
Net originations of loans not covered by FDIC loss share | (98,039,000) | (176,400,000) | ||||
Net collections of loans covered by FDIC loss share | 16,888,000 | |||||
Decrease in due from banks - time | 4,326,000 | |||||
Purchases of premises and equipment, net | (4,044,000) | (7,784,000) | ||||
Proceeds from sale of foreclosed assets held for sale | 19,364,000 | 15,814,000 | ||||
Proceeds from sale of foreclosed assets held for sale, covered by FDIC loss share | 1,859,000 | |||||
Proceeds from sale of available-for-sale securities | 232,806,000 | 1,662,000 | ||||
Proceeds from maturities of available-for-sale securities | 61,164,000 | 291,688,000 | ||||
Purchases of available-for-sale securities | (280,506,000) | (210,344,000) | ||||
Proceeds from maturities of held-to-maturity securities | 79,976,000 | 116,439,000 | ||||
Purchases of held-to-maturity securities | (6,162,000) | (54,668,000) | ||||
Proceeds from bank owned life insurance death benefits | 1,876,000 | |||||
Purchases of bank owned life insurance | (25,000) | (25,000) | ||||
Cash received on FDIC loss share | 3,980,000 | |||||
Cash received in business combinations, net of cash paid | 201,029,000 | |||||
Net cash provided by investing activities | 10,736,000 | 200,138,000 | ||||
FINANCING ACTIVITIES | ||||||
Net change in deposits | (57,893,000) | (101,472,000) | ||||
Repayments of subordinated debentures | (594,000) | |||||
Dividends paid on preferred stock | (24,000) | (103,000) | ||||
Dividends paid on common stock | (14,514,000) | (13,174,000) | ||||
Net change in other borrowed funds | 29,538,000 | (134,106,000) | ||||
Net change in federal funds purchased and securities sold under agreements to repurchase | 3,640,000 | (15,024,000) | ||||
Net shares issued under stock compensation plans | 4,210,000 | 2,850,000 | ||||
Redemption of preferred stock | (30,852,000) | |||||
Net cash used in financing activities | (66,489,000) | (261,029,000) | ||||
DECREASE IN CASH AND CASH EQUIVALENTS | (1,655,000) | (43,439,000) | ||||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 252,262,000 | 292,470,000 | 335,909,000 | $ 335,909,000 | ||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 250,607,000 | $ 292,470,000 | $ 250,607,000 | $ 252,262,000 | $ 292,470,000 | $ 252,262,000 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | 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 Bancshares, Inc. [Member]Common Stock [Member] | Liberty Bancshares, Inc. [Member]Additional Paid-in Capital [Member] | Liberty Bancshares, Inc. [Member] | Ozark Trust [Member]Common Stock [Member] | Ozark Trust [Member]Additional Paid-in Capital [Member] | Ozark Trust [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, 2014 | $ 181 | $ 156,568 | $ (1,336) | $ 338,906 | $ 494,319 | |||||||||||
Net income | 28,830 | 28,830 | ||||||||||||||
Change in unrealized depreciation on available-for-sale securities | (64) | (64) | ||||||||||||||
Comprehensive income | 28,766 | |||||||||||||||
Stock issued as bonus shares | 1 | 1,564 | 1,565 | |||||||||||||
Vesting bonus shares | 803 | 803 | ||||||||||||||
Stock issued for employee stock purchase plan | 226 | 226 | ||||||||||||||
Exercise of stock options | 1,201 | 1,201 | ||||||||||||||
Stock granted under stock-based compensation plans | 274 | 274 | ||||||||||||||
Securities exchanged under stock option plan | (142) | (142) | ||||||||||||||
Stock issued for acquisition | $ 30,852 | $ 65 | $ 268,277 | $ 299,194 | $ 52 | $ 212,124 | $ 212,176 | |||||||||
Dividends on preferred stock | (103) | (103) | ||||||||||||||
Dividends on common stock | (13,174) | (13,174) | ||||||||||||||
Balance at Jun. 30, 2015 | 30,852 | 299 | 640,895 | (1,400) | 354,459 | 1,025,105 | ||||||||||
Net income | 45,534 | 45,534 | ||||||||||||||
Change in unrealized depreciation on available-for-sale securities | (1,265) | (1,265) | ||||||||||||||
Comprehensive income | 44,269 | |||||||||||||||
Stock issued as bonus shares | 268 | 268 | ||||||||||||||
Vesting bonus shares | 1,749 | 1,749 | ||||||||||||||
Exercise of stock options | 1 | 410 | 411 | |||||||||||||
Stock granted under stock-based compensation plans | 1,192 | 1,192 | ||||||||||||||
Stock issued for acquisition | $ 3 | $ 17,864 | $ 17,867 | |||||||||||||
Dividends on preferred stock | (154) | (154) | ||||||||||||||
Balance at Dec. 31, 2015 | 30,852 | 303 | 662,378 | (2,665) | 385,987 | 1,076,855 | ||||||||||
Cash dividends | (13,852) | (13,852) | ||||||||||||||
Net income | 46,414 | 46,414 | ||||||||||||||
Change in unrealized depreciation on available-for-sale securities | 6,903 | 6,903 | ||||||||||||||
Comprehensive income | 53,317 | |||||||||||||||
Stock issued as bonus shares | 1 | 4,126 | 4,127 | |||||||||||||
Vesting bonus shares | (1) | (259) | (260) | |||||||||||||
Stock issued for employee stock purchase plan | 231 | 231 | ||||||||||||||
Exercise of stock options | 1 | 1,367 | 1,368 | |||||||||||||
Stock granted under stock-based compensation plans | 638 | 638 | ||||||||||||||
Securities exchanged under stock option plan | (175) | (175) | ||||||||||||||
Dividends on preferred stock | (24) | (24) | ||||||||||||||
Dividends on common stock | (14,514) | (14,514) | ||||||||||||||
Balance at Jun. 30, 2016 | $ 304 | $ 668,306 | $ 4,238 | $ 417,863 | 1,090,711 | |||||||||||
Preferred stock redeemed | $ (30,852) | $ (30,852) |
Consolidated Statements of Sto8
Consolidated Statements of Stockholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
AOCI Attributable to Parent [Member] | |||
Change in unrealized depreciation on available-for-sale securities, net of income taxes | $ 4,455 | $ 817 | $ 41 |
Additional Paid-in Capital [Member] | Ozark Trust [Member] | |||
Stock issued for acquisition, shares (in shares) | 339,290 | ||
Additional Paid-in Capital [Member] | |||
Stock issued as bonus (in shares) | 142,827 | 38,920 | 56,600 |
Vesting bonus shares, net of forfeitures (in shares) | 53,053 | 7,164 | 9,500 |
Stock issued for employee stock purchase plan, shares (in shares) | 6,002 | 6,528 | |
Exercise of stock options (in shares) | 45,657 | 18,439 | 52,929 |
Securities exchanged under stock option plan, shares (in shares) | 3,885 | 4,350 | |
Stock issued as bonus (in shares) | 142,827 | 38,920 | 56,600 |
Vesting bonus shares, net of forfeitures (in shares) | 53,053 | 7,164 | 9,500 |
Stock issued for employee stock purchase plan, shares (in shares) | 6,002 | 6,528 | |
Preferred Stock [Member] | Community First Bancshares Inc [Member] | |||
Stock issued for acquisition, shares (in shares) | 30,852 | ||
Common Stock [Member] | Community First Bancshares Inc [Member] | |||
Stock issued for acquisition, shares (in shares) | 6,552,915 | ||
Common Stock [Member] | Liberty Bancshares, Inc. [Member] | |||
Stock issued for acquisition, shares (in shares) | 5,181,337 | ||
Retained Earnings [Member] | |||
Cash dividends, per share (in dollars per share) | $ 0.48 | $ 0.46 | $ 0.46 |
Cash dividends, per share (in dollars per share) | $ 0.48 | $ 0.46 | $ 0.46 |
Exercise of stock options (in shares) | 45,657 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1: BASIS OF PRESENTATION The consolidated financial statements include the accounts of Simmons First National Corporation (the “Company”) and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. All adjustments made to the unaudited financial statements were of a normal recurring nature. In the opinion of management, all adjustments necessary for a fair presentation of the results of interim periods have been made. Certain prior year amounts are reclassified to conform to current year classification. The consolidated balance sheet of the Company as of December 31, 2015, has been derived from the audited consolidated balance sheet of the Company as of that date. The results of operations for the period are not necessarily indicative of the results to be expected for the full year. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Form 10-K Annual Report for 2015 filed with the U.S. Securities and Exchange Commission (the “SEC”). Recently Issued Accounting Pronouncements ASU 2016-13 – Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments ASU 2016-09 – Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting ASU 2016-02 – Leases ASU 2016-01 – Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities ASU 2015-16 – Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments ASU 2015-14 – Revenue from Contracts with Customers: Deferral of the Effective Date ASU 2015-08 – Business Combinations: Pushdown Accounting – Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 ASU 2015-02 – Consolidation (Topic 810): Amendments to the Consolidation Analysis There have been no other significant changes to the Company’s accounting policies from the 2015 Form 10-K. 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. Acquisition Accounting, Acquired Loans The Company accounts for its acquisitions under ASC Topic 805, Business Combinations The Company evaluates loans acquired, other than purchased impaired loans, 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 2015, 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. Earnings Per Common Share (“EPS”) Basic EPS is computed by dividing reported net income available to common shareholders by weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common shareholders by the weighted average common shares and all potential dilutive common shares outstanding during the period. Following is the computation of earnings per common share for the three and six months ended June 30, 2016 and 2015: Three Months Ended Six Months Ended (In thousands, except per share data) 2016 2015 2016 2015 Net income available to common shareholders $ 22,909 $ 20,018 $ 46,390 $ 28,727 Average common shares outstanding 30,353 29,867 30,340 26,084 Average potential dilutive common shares 99 120 99 120 Average diluted common shares 30,452 29,987 30,439 26,204 Basic earnings per share $ 0.75 $ 0.67 $ 1.53 $ 1.10 Diluted earnings per share (1) (2) $ 0.75 $ 0.67 $ 1.52 $ 1.10 (1) EPS are computed independently for each quarter and therefore the sum of each quarterly EPS may not equal the year-to-date EPS. As a result of the large stock issuances during 2015 as part of the Company’s acquisitions, the computed independent quarterly average common shares outstanding and the computed year-to-date average common shares differ significantly. For purposes of calculating a roll-forward amount for 2015 year-to-date EPS, diluted EPS for the second quarter of 2015 would require a computed amount of $0.71, producing a difference of $.04 from actual second quarter diluted EPS of $0.67. This difference is based on the direct result of the varying denominator for each period presented. (2) Stock options to purchase 258,255 and 65,005 shares for the three and six months ended June 30, 2016 and 2015, respectively, were not included in the diluted EPS calculation because the exercise price of those options exceeded the average market price. |
Note 2 - Acquisitions
Note 2 - Acquisitions | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
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 acquisition method 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 is 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 acquisition method 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 is able to achieve cost savings by integrating the two companies and combining accounting, data processing, and other administrative functions. Further the Company 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. 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. Citizens National Bank (Pending Acquisition) On May 18, 2016, the Company entered into a stock purchase agreement (the “Agreement”) with Citizens National Bancorp, Inc. (“Citizens”) and Citizens National Bank (“CNB”) to acquire CNB, headquartered in Athens, Tennessee. CNB had assets of approximately $552 million at March 31, 2016. According to the terms of the Agreement, the Company will acquire all of the outstanding common stock of CNB. The transaction is valued at $77.0 million (based on the Company’s May 17, 2016 closing price). The purchase price will be allocated among the net assets of CNB acquired as appropriate, with the remaining balance being reported as goodwill. The transaction has received to the routine regulatory approval, but is subject to other customary closing conditions, including approval by the shareholders of Citizens. The transaction is expected to close during the third quarter of 2016. After closing, CNB is expected to continue operations as a separate bank subsidiary of the Company for an interim period until it is merged into Simmons Bank. |
Note 3 - Investment Securities
Note 3 - Investment Securities | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
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 (“HTM”) and available-for-sale (“AFS”) are as follows: June 30, 2016 December 31, 2015 (In thousands) Amortized Gross Gross Unrealized Estimated Amortized Gross Gross Unrealized Estimated Held-to-Maturity U.S. Government agencies $ 199,505 $ 549 $ (8 ) $ 200,046 $ 237,139 $ 582 $ (1,395 ) $ 236,326 Mortgage-backed securities 22,612 486 (11 ) 23,087 24,774 86 (290 ) 24,570 State and political subdivisions 407,273 14,128 (5 ) 421,396 440,676 9,138 (123 ) 449,691 Other securities 2,764 - - 2,764 2,784 - - 2,784 Total HTM $ 632,154 $ 15,163 $ (24 ) $ 647,293 $ 705,373 $ 9,806 $ (1,808 ) $ 713,371 Available-for-Sale U.S. Treasury $ 4,300 $ 5 $ - $ 4,305 $ 4,000 $ - $ (6 ) $ 3,994 U.S. Government agencies 58,099 14 - 58,113 121,017 118 (898 ) 120,237 Mortgage-backed securities 643,820 8,643 (38 ) 652,425 650,619 937 (4,130 ) 647,426 State and political subdivisions 63,825 1,070 (59 ) 64,836 9,762 112 - 9,874 Other securities 41,030 685 (22 ) 41,693 39,594 420 (138 ) 39,876 Total AFS $ 811,074 $ 10,417 $ (119 ) $ 821,372 $ 824,992 $ 1,587 $ (5,172 ) $ 821,407 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 June 30, 2016, was $65.4 million, which is approximately 4.5% 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 June 30, 2016: Less Than 12 Months 12 Months or More Total (In thousands) Estimated Gross Estimated Gross Estimated Gross Held-to-Maturity U.S. Government agencies $ - $ - $ 19,992 $ (8 ) $ 19,992 $ (8 ) Mortgage-backed securities 1,336 (3 ) 2,898 (8 ) 4,234 (11 ) State and political subdivisions 2,056 (4 ) 670 (1 ) 2,726 (5 ) Total HTM $ 3,392 $ (7 ) $ 23,560 $ (17 ) $ 26,952 $ (24 ) Available-for-Sale Mortgage-backed securities $ 26,441 $ (38 ) $ - $ - $ 26,441 $ (38 ) State and political subdivisions 11,928 (59 ) - - 11,928 (59 ) Other securities 60 (22 ) - - 60 (22 ) Total AFS $ 38,429 $ (119 ) $ - $ - $ 38,429 $ (119 ) 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 June 30, 2016, 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 June 30, 2016, 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. The book value of securities sold under agreements to repurchase equaled $102.5 million and $96.8 million for June 30, 2016 and December 31, 2015, respectively. Income earned on securities for the three and six months ended June 30, 2016 and 2015, is as follows: Three Months Ended Six Months Ended (In thousands) 2016 2015 2016 2015 Taxable: Held-to-maturity $ 1,446 $ 1,307 $ 2,323 $ 2,696 Available-for-sale 4,492 3,172 8,926 4,755 Non-taxable: Held-to-maturity 2,399 2,732 5,545 5,334 Available-for-sale 162 839 211 1,144 Total $ 8,499 $ 8,050 $ 17,005 $ 13,929 Maturities of investment securities at June 30, 2016, are as follows: Held-to-Maturity Available-for-Sale (In thousands) Amortized Fair Amortized Fair One year or less $ 87,294 $ 87,350 $ 9,409 $ 9,417 After one through five years 219,404 221,094 56,352 56,393 After five through ten years 116,567 120,081 4,144 4,314 After ten years 186,277 195,681 57,619 58,429 Securities not due on a single maturity date 22,612 23,087 643,820 652,425 Other securities (no maturity) - - 39,730 40,394 Total $ 632,154 $ 647,293 $ 811,074 $ 821,372 The carrying value, which approximates the fair value, of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $866.3 million at June 30, 2016 and $840.4 million at December 31, 2015. There were $3.8 million of gross realized gains and no realized losses from the sale of available for sale securities during the three months ended June 30, 2016 and there were $4.1 million of realized gains and no realized losses from the sale of available for sale securities during the six months ended June 30, 2016. There were no realized gains and no realized losses for the three months ended June 30, 2015 and there were $2,000 of gross realized gains and $40,000 of realized losses from the sale of available for sale securities during the six months ended June 30, 2015. The state and political subdivision debt obligations are predominately non-rated bonds representing small issuances, primarily in Arkansas, 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 | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4: LOANS AND ALLOWANCE FOR LOAN LOSSES At June 30, 2016, the Company’s loan portfolio was $5.014 billion, compared to $4.919 billion at December 31, 2015. The various categories of loans are summarized as follows: (In thousands) June 30, December 31, Consumer: Credit cards $ 171,468 $ 177,288 Other consumer 248,018 208,380 Total consumer 419,486 385,668 Real Estate: Construction 330,666 279,740 Single family residential 785,289 696,180 Other commercial 1,414,663 1,229,072 Total real estate 2,530,618 2,204,992 Commercial: Commercial 577,771 500,116 Agricultural 187,047 148,563 Total commercial 764,818 648,679 Other 10,500 7,115 Loans 3,725,422 3,246,454 Loans acquired, net of discount and allowance (1) 1,288,435 1,672,901 Total loans $ 5,013,857 $ 4,919,355 ______________________ (1) See Note 5, Loans Acquired, for segregation of loans acquired by loan class. Loan Origination/Risk Management Consumer Real estate Commercial Nonaccrual and Past Due Loans Nonaccrual loans, excluding loans acquired, segregated by class of loans, are as follows: (In thousands) June 30, December 31, Consumer: Credit cards $ 266 $ 212 Other consumer 1,205 442 Total consumer 1,471 654 Real estate: Construction 5,312 4,955 Single family residential 10,353 5,453 Other commercial 21,522 4,420 Total real estate 37,187 14,828 Commercial: Commercial 2,985 1,968 Agricultural 1,662 264 Total commercial 4,647 2,232 Total $ 43,305 $ 17,714 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 June 30, 2016 Consumer: Credit cards $ 631 $ 434 $ 1,065 $ 170,403 $ 171,468 $ 168 Other consumer 1,529 800 2,329 245,689 248,018 36 Total consumer 2,160 1,234 3,394 416,092 419,486 204 Real estate: Construction 761 2,413 3,174 327,492 330,666 - Single family residential 5,034 5,430 10,464 774,825 785,289 23 Other commercial 3,267 3,441 6,708 1,407,955 1,414,663 - Total real estate 9,062 11,284 20,346 2,510,272 2,530,618 23 Commercial: Commercial 2,712 1,120 3,832 573,939 577,771 - Agricultural 1,189 840 2,029 185,018 187,047 - Total commercial 3,901 1,960 5,861 758,957 764,818 - Other - - - 10,500 10,500 - Total $ 15,123 $ 14,478 $ 29,601 $ 3,695,821 $ 3,725,422 $ 227 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 93 201 6,914 7,115 15 Total $ 13,391 $ 13,255 $ 26,646 $ 3,219,808 $ 3,246,454 $ 1,191 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 Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized June 30, 2016 Three Months Ended Six Months Ended Consumer: Credit cards $ 433 $ 433 $ - $ 433 $ - $ 216 $ - $ 304 $ 10 Other consumer 1,257 1,225 17 1,242 6 841 12 708 18 Total consumer 1,690 1,658 17 1,675 6 1,057 12 1,012 28 Real estate: Construction 6,209 2,414 2,898 5,312 155 5,089 61 5,044 126 Single family residential 10,879 8,946 1,510 10,456 115 9,032 110 7,904 197 Other commercial 22,990 7,484 14,393 21,877 2,810 19,976 220 14,789 370 Total real estate 40,078 18,844 18,801 37,645 3,080 34,097 391 27,737 693 Commercial: Commercial 4,116 2,477 369 2,846 63 2,539 31 2,355 59 Agricultural 2,634 1,625 - 1,625 - 1,084 15 810 20 Total commercial 6,750 4,102 369 4,471 63 3,623 46 3,165 79 Total $ 48,518 $ 24,604 $ 19,187 $ 43,791 $ 3,149 $ 38,777 $ 449 $ 31,914 $ 800 December 31, 2015 Three Months Ended Six Months Ended Consumer: Credit cards $ 479 $ 479 $ - $ 479 $ 7 $ 459 $ 7 $ 372 $ 12 Other consumer 459 423 19 442 85 538 11 565 19 Total consumer 938 902 19 921 92 997 18 937 31 Real estate: Construction 5,678 1,636 3,318 4,954 441 5,066 107 5,717 197 Single family residential 5,938 4,702 945 5,647 1,034 5,251 93 4,942 170 Other commercial 5,688 4,328 88 4,416 832 3,104 48 2,563 88 Total real estate 17,304 10,666 4,351 15,017 2,307 13,421 248 13,222 455 Commercial: Commercial 2,656 1,654 334 1,988 387 2,054 29 1,558 54 Agricultural 264 264 - 264 45 166 5 264 9 Total commercial 2,920 1,918 334 2,252 432 2,220 34 1,822 63 Total $ 21,162 $ 13,486 $ 4,704 $ 18,190 $ 2,831 $ 16,638 $ 300 $ 15,981 $ 549 At June 30, 2016, and December 31, 2015, impaired loans, net of government guarantees and excluding loans acquired, totaled $43.8 million and $18.2 million, respectively. Allocations of the allowance for loan losses relative to impaired loans were $3.1 million and $2.8 million at June 30, 2016 and December 31, 2015, respectively. Approximately $449,000 and $800,000 of interest income was recognized on average impaired loans of $38.8 million and $31.9 million for the three and six months ended June 30, 2016. Interest income recognized on impaired loans on a cash basis during the three and six months ended June 30, 2016 and 2015 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 June 30, 2016 Consumer: Other consumer -- $ -- 2 $ 15 2 $ 15 Total consumer -- -- 2 15 2 15 Real estate: Construction -- -- 1 139 1 139 Single-family residential 3 184 18 1,870 21 2,054 Other commercial 25 10,302 2 1,769 27 12,071 Total real estate 28 10,486 21 3,778 49 14,264 Commercial: Commercial 10 401 5 312 15 713 Total commercial 10 401 5 312 15 713 Total 38 $ 10,887 28 $ 4,105 66 $ 14,992 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 The following table presents loans that were restructured as TDRs during the three and six months ended June 30, 2016 and 2015, 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 Three Months Ended June 30, 2016 Consumer: Other consumer 1 $ 3 $ 3 $ 3 $ -- $ -- Total consumer 1 3 3 3 -- -- Real Estate: Single-family residential 7 618 615 61 554 -- Other commercial 1 348 364 -- 364 -- Total real estate 8 966 979 61 918 -- Commercial: Commercial 9 426 399 399 -- -- Total commercial 9 426 399 399 -- -- Total 18 $ 1,395 $ 1,381 $ 463 $ 918 $ -- Three Months Ended June 30, 2015 Real Estate: Single-family residential 4 $ 361 $ 361 $ 361 $ -- $ -- Other commercial 1 19 19 19 -- -- Total real estate 5 380 380 380 -- -- Total 5 $ 380 $ 380 $ 380 $ -- $ -- Six Months Ended June 30, 2016 Consumer: Other consumer 1 $ 3 $ 3 $ 3 $ -- $ -- Total consumer 1 3 3 3 -- -- Real estate: Single-family residential 9 796 793 239 554 -- Other commercial 25 8,962 8,931 8,567 364 -- Total real estate 34 9,758 9,724 8,806 918 -- Commercial: Commercial 11 600 572 572 -- -- Total commercial 11 600 572 572 -- -- Total 46 $ 10,361 $ 10,299 $ 9,381 $ 918 $ -- Six Months Ended June 30, 2015 Real estate: Single-family residential 6 $ 709 $ 701 $ 701 $ -- $ -- Other commercial 1 19 19 19 -- -- Total real estate 7 728 720 720 -- -- Total 7 $ 728 $ 720 $ 720 $ -- $ -- During the three months ended June 30, 2016, the Company modified 18 loans with a recorded investment of $1.4 million prior to modification which were deemed troubled debt restructuring. The restructured loans were modified by deferring amortized principal payments, changing the maturity date, changing the interest rate and requiring interest only payments for a period of 12 months. Based on the fair value of the collateral, a specific reserve of $31,000 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 the six months ended June 30, 2016, the Company modified 46 loans with a recorded investment of $10.4 million prior to modification which was deemed troubled debt restructuring. The restructured loans were modified by deferring amortized principal payments, changing the maturity date, changing the interest rate and requiring interest only payments for a period of 12 months. Based on the fair value of the collateral, a specific reserve of $324,000 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 the three months ended June 30, 2015, the Company modified five loans with a recorded investment of $380,000 and during the six months ended June 30, 2015, the Company modified seven loans with a total recorded investment of $728,000 prior to modification which were deemed troubled debt restructuring. The restructured loans were modified by changing 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, 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. There were no loans for which a payment default occurred during the six months ended June 30, 2016 and 2015, 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 $166,500 and $4.8 million at June 30, 2016 and 2015, 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 June 30, 2016, the Company had $2,215,000 of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At June 30, 2016, the Company had $5,648,000 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 $20.7 million and $23.5 million that are accounted for under ASC Topic 310-30 and are classified as substandard (Risk Rating 6) as of June 30, 2016 and December 31, 2015, respectively. Of the remaining loans acquired and accounted for under ASC Topic 310-20, $36.0 million and $49.9 million were classified (Risk Ratings 6, 7 and 8 – see classified loans discussion below) at June 30, 2016 and December 31, 2015, 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 during 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 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 $161.4 million and $153.7 million, as of June 30, 2016 and December 31, 2015, respectively. The following table presents a summary of loans by credit risk rating as of June 30, 2016 and December 31, 2015, 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 June 30, 2016 Consumer: Credit cards $ 171,035 $ -- $ 433 $ -- $ -- $ 171,468 Other consumer 246,491 44 1,463 20 -- 248,018 Total consumer 417,526 44 1,896 20 -- 419,486 Real estate: Construction 319,592 103 10,955 16 -- 330,666 Single family residential 761,813 3,605 19,707 164 -- 785,289 Other commercial 1,351,541 7,127 55,995 -- -- 1,414,663 Total real estate 2,432,946 10,835 86,657 180 -- 2,530,618 Commercial: Commercial 558,439 5,140 14,162 30 -- 577,771 Agricultural 185,028 228 1,791 -- -- 187,047 Total commercial 743,467 5,368 15,953 30 -- 764,818 Other 10,500 -- -- -- -- 10,500 Loans acquired 1,212,261 19,520 54,740 1,914 -- 1,288,435 Total $ 4,816,700 $ 35,767 $ 159,246 $ 2,144 $ -- $ 5,013,857 (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 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 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 by portfolio segment for the three and six months ended June 30, 2016. 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 Three Months Ended June 30, 2016 Balance, beginning of period (2) $ 7,083 $ 19,925 $ 3,757 $ 1,916 $ 32,681 Provision for loan losses (1) 2,714 423 440 732 4,309 Charge-offs (2,283 ) (824 ) (702 ) (489 ) (4,298 ) Recoveries 318 111 253 149 831 Net recoveries (charge-offs) (1,965 ) (713 ) (449 ) (340 ) (3,467 ) Balance, June 30, 2016 (2) $ 7,832 $ 19,635 $ 3,748 $ 2,308 $ 33,523 Six Months Ended June 30, 2016 Balance, beginning of period (2) $ 5,985 $ 19,522 $ 3,893 $ 1,951 $ 31,351 Provision for loan losses (1) 4,281 943 921 987 7,132 Charge-offs (2,759 ) (1,053 ) (1,561 ) (882 ) (6,255 ) Recoveries 325 223 495 252 1,295 Net charge-offs (2,434 ) (830 ) (1,066 ) (630 ) (4,960 ) Balance, June 30, 2016 (2) $ 7,832 $ 19,635 $ 3,748 $ 2,308 $ 33,523 Period-end amount allocated to: Loans individually evaluated for impairment $ 63 $ 3,080 $ -- $ 6 $ 3,149 Loans collectively evaluated for impairment 7,769 16,555 3,748 2,302 30,374 Balance, June 30, 2016 (2) $ 7,832 $ 19,635 $ 3,748 $ 2,308 $ 33,523 ________________________________________ (1) Provision for loan losses of $307,000 attributable to loans acquired was excluded from this table for the three and six months ended June 30, 2016 (total provision for loan losses for the three and six months ended June 30, 2016 was $4,616,000 and $7,439,000). The $307,000 was subsequently charged-off, resulting in no ending balance in the allowance related to loans acquired. (2) Allowance for loan losses at June 30, 2016, March 31, 2016 and December 31, 2015 includes $954,000 allowance for loans acquired. The total allowance for loan losses at June 30, 2016, March 31, 2016 and December 31, 2015 was $34,477,000, $33,635,000 and $32,305,000, respectively. Activity in the allowance for loan losses for the three and six months ended June 30, 2015 was as follows: (In thousands) Commercial Real Credit Other Total Three Months Ended June 30, 2015 Balance, beginning of period (4) $ 6,870 $ 15,553 $ 5,527 $ 1,233 $ 29,183 Provision for loan losses (3) (1,569 ) 3,311 352 308 2,402 Charge-offs -- (333 ) (802 ) (366 ) (1,501 ) Recoveries 9 46 241 187 483 Net charge-offs 9 (287 ) (561 ) (179 ) (1,018 ) Balance, June 30, 2015 (4) $ 5,310 $ 18,577 $ 5,318 $ 1,362 $ 30,567 Six Months Ended June 30, 2015 Balance, beginning of period (4) $ 6,962 $ 15,161 $ 5,445 $ 1,460 $ 29,028 Provision for loan losses (3) (1,585 ) 3,984 1,006 168 3,573 Charge-offs (245 ) (626 ) (1,587 ) (586 ) (3,044 ) Recoveries 178 58 454 320 1,010 Net charge-offs (67 ) (568 ) (1,133 ) (266 ) (2,034 ) Balance, June 30, 2015 (4) $ 5,310 $ 18,577 $ 5,318 $ 1,362 $ 30,567 Period-end amount allocated to: Loans individually evaluated for impairment $ 396 $ 1,513 $ 14 $ 89 $ 2,012 Loans collectively evaluated for impairment 4,914 17,064 5,304 1,273 28,555 Balance, June 30, 2015 (4) $ 5,310 $ 18,577 $ 5,318 $ 1,362 $ 30,567 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, December 31, 2015 (5) $ 5,985 $ 19,522 $ 3,893 $ 1,951 $ 31,351 ___________________________________________ (3) Provision for loan losses of $604,000 attributable to loans acquired, not covered by loss share, was excluded from this table for the three and six months ended June 30, 2015 (total provision for loan losses for the three and six months ended June 30, 2015 was $3,006,000 and $4,177,000). The $604,000 was subsequently charged-off, resulting in no ending balance in the allowance related to loans acquired. (4) Allowance for loan losses at June 30, 2015, March 31, 2015 and December 31, 2014 includes $954,000 allowance for loans acquired, covered by loss share. The total allowance for loan losses at June 30, 2015, March 31, 2015 and December 31, 2014 was $31,521,000, $30,137,000 and $29,982,000, respectively. (5) Allowance for loan losses at December 31, 2015 includes $954,000 allowance for loans acquired (not shown in the table above). The total allowance for loan losses December 31, 2015 was $32,305,000. The Company’s recorded investment in loans, excluding loans acquired, related to each balance in the allowance for loan losses by portfolio segment on the basis of the Company’s impairment methodology was as follows: (In thousands) Commercial Real Credit Other Total June 30, 2016 Loans individually evaluated for impairment $ 4,471 $ 37,645 $ 433 $ 1,242 $ 43,791 Loans collectively evaluated for impairment 760,347 2,492,973 171,035 257,276 3,681,631 Balance, end of period $ 764,818 $ 2,530,618 $ 171,468 $ 258,518 $ 3,725,422 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 |
Note 5 - Loans Acquired
Note 5 - Loans Acquired | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
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. The following table reflects the carrying value of all acquired loans as of June 30, 2016 and December 31, 2015: Loans Acquired (in thousands) June 30, December 31, Consumer: Other consumer $ 53,072 $ 75,606 Total consumer 53,072 75,606 Real estate: Construction 38,509 77,119 Single family residential 406,161 501,002 Other commercial 685,124 854,068 Total real estate 1,129,794 1,432,189 Commercial: Commercial 101,984 154,533 Agricultural 3,585 10,573 Total commercial 105,569 165,106 Total loans acquired (1) $ 1,288,435 $ 1,672,901 _____________________________________________________________________________________ (1) Loans acquired are reported net of a $954,000 allowance at June 30, 2016 and December 31, 2015. 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) June 30, December 31, Consumer: Other consumer $ 86 $ 71 Total consumer 86 71 Real estate: Construction 992 783 Single family residential 8,340 7,795 Other commercial 3,319 6,435 Total real estate 12,651 15,013 Commercial: Commercial 1,453 3,859 Agricultural 52 8 Total commercial 1,505 3,867 Total $ 14,242 $ 18,951 An age analysis of past due acquired loans segregated by class of loans, is as follows (see Note 4, Loans and Allowance for Loan Losses, for discussion of past due loans): (In thousands) Gross 90 Days Total Current Total 90 Days June 30, 2016 Consumer: Other consumer $ 635 $ 24 $ 659 $ 52,413 $ 53,072 $ -- Total consumer 635 24 659 52,413 53,072 -- Real estate: Construction 69 6,833 6,902 31,607 38,509 -- Single family residential 4,980 4,205 9,185 396,976 406,161 -- Other commercial 10,616 12,081 22,697 662,427 685,124 -- Total real estate 15,665 23,119 38,784 1,091,010 1,129,794 -- Commercial: Commercial 664 2,686 3,350 98,634 101,984 -- Agricultural 53 52 105 3,480 3,585 -- Total commercial 717 2,738 3,455 102,114 105,569 -- Total $ 17,017 $ 25,881 $ 42,898 $ 1,245,537 $ 1,288,435 $ -- 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 The following table presents a summary of acquired loans by credit risk rating, segregated by class of loans (see Note 4, Loans and 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 June 30, 2016 Consumer: Other consumer $ 52,857 $ 18 $ 197 $ -- $ -- $ 53,072 Total consumer 52,857 18 197 -- -- 53,072 Real estate: Construction 32,341 69 6,099 -- -- 38,509 Single family residential 389,529 1,482 13,489 1,661 -- 406,161 Other commercial 642,307 16,202 26,615 -- -- 685,124 Total real estate 1,064,177 17,753 46,203 1,661 -- 1,129,794 Commercial: Commercial 91,957 1,698 8,076 253 -- 101,984 Agricultural 3,270 51 264 -- -- 3,585 Total commercial 95,227 1,749 8,340 253 -- 105,569 Total $ 1,212,261 $ 19,520 $ 54,740 $ 1,914 $ -- $ 1,288,435 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 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 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 three and six months ended June 30, 2016 and 2015 is shown below: Three Months Ended Six Months Ended (In thousands) 2016 2015 2016 2015 Impact on net interest income $ 80 $ 3,223 $ 1,175 $ 9,325 Non-interest income (1) -- (2,941 ) -- (5,686 ) Net impact to pre-tax income 80 282 1,175 3,639 Net impact, net of taxes $ 49 $ 171 $ 714 $ 2,212 _____________________________________ (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 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 three and six months ended June 30, 2016 and 2015. Three Months Ended Six Months Ended (In thousands) Accretable Carrying Accretable Carrying Beginning balance $ 2,034 $ 21,259 $ 954 $ 23,469 Additions -- -- -- -- Accretable yield adjustments 642 -- 3,074 -- Accretion (311 ) 311 (1,663 ) 1,663 Payments and other reductions, net -- (907 ) -- (4,469 ) Balance, ending $ 2,365 $ 20,663 $ 2,365 $ 20,663 Three Months Ended Six Months Ended (In thousands) Accretable Carrying Accretable Carrying Beginning balance $ 17,226 $ 177,691 $ 20,635 $ 169,098 Additions -- -- (116 ) 17,750 Accretable yield adjustments 2,369 -- 5,443 -- Accretion (4,547 ) 4,547 (10,914 ) 10,914 Payments and other reductions, net -- (22,144 ) -- (37,668 ) Balance, ending $ 15,048 $ 160,094 $ 15,048 $ 160,094 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 June 30, 2016 and 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. Due to the termination of the FDIC agreements in September 2015 there was no amortization expense recorded for the three or six months ended June 30, 2016. For the three and six months ended June 30, 2015, amortization expense of $40,000 and $80,000, respectively and an adjustment related to changes in expected losses of $279,000 and $533,000, respectively was recorded. |
Note 6 - Goodwill and Other Int
Note 6 - Goodwill and Other Intangible Assets | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
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 June 30, 2016 and December 31, 2015. Goodwill impairment was neither indicated nor recorded during the six months ended June 30, 2016 or the year ended December 31, 2015. 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 during the first quarter of 2015 as part of the Community First and Liberty acquisitions, respectively. Intangible assets are being amortized over various periods ranging from 10 to 15 years. The Community First acquisition on February 27, 2015 included an insurance line of business and the Company recorded an intangible asset of $420,000 during the first quarter of 2015. The Company’s goodwill and other intangibles (carrying basis and accumulated amortization) at June 30, 2016 and December 31, 2015, were as follows: (In thousands) June 30, December 31, Goodwill $ 327,686 $ 327,686 Core deposit premiums: Gross carrying amount 43,617 43,648 Accumulated amortization (8,349 ) (6,217 ) Core deposit premiums, net 35,268 37,431 Purchased credit card relationships: Gross carrying amount 2,068 2,068 Accumulated amortization (1,138 ) (931 ) Purchased credit card relationships, net 930 1,137 Books of business intangible: Gross carrying amount 15,293 15,293 Accumulated amortization (1,162 ) (624 ) Books of business intangible, net 14,131 14,669 Other intangible assets, net 50,329 53,237 Total goodwill and other intangible assets $ 378,015 $ 380,923 The Company’s estimated remaining amortization expense on intangibles as of June 30, 2016 is as follows: (In thousands) Year Amortization Remainder of 2016 $ 2,907 2017 5,815 2018 5,711 2019 5,401 2020 5,389 Thereafter 25,106 Total $ 50,329 |
Note 7 - Time Deposits
Note 7 - Time Deposits | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 7: TIME DEPOSITS Time deposits include approximately $562,888,000 and $625,775,000 of certificates of deposit of $100,000 or more at June 30, 2016, and December 31, 2015, respectively. Of this total approximately $170,616,000 and $186,352,000 of certificates of deposit were over $250,000 at June 30, 2016 and December 31, 2015, respectively. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 8: INCOME TAXES The provision for income taxes is comprised of the following components: (In thousands) June 30, June 30, Income taxes currently payable $ 22,812 $ 16,204 Deferred income taxes 615 (1,772 ) Provision for income taxes $ 23,427 $ 14,432 The tax effects of temporary differences related to deferred taxes shown on the balance sheets were: (In thousands) June 30, December 31, Deferred tax assets: Loans acquired $ 11,644 $ 14,716 Allowance for loan losses 13,515 12,700 Valuation of foreclosed assets 11,183 11,212 Tax NOLs from acquisition 14,593 14,593 Deferred compensation payable 2,769 2,767 Vacation compensation 2,204 2,250 Accrued equity and other compensation 5,903 5,197 Acquired securities 1,766 1,770 Other accrued liabilities 1,938 1,943 Unrealized loss on available-for-sale securities -- 1,655 Other 3,054 3,006 Gross deferred tax assets 68,569 71,809 Deferred tax liabilities: Goodwill and other intangible amortization (29,709 ) (30,550 ) Limitations under IRC Sec 382 (3,481 ) (3,478 ) Accumulated depreciation (3,893 ) (3,914 ) Unrealized gain on available-for-sale securities (2,733 ) -- Other (4,076 ) (4,187 ) Gross deferred tax liabilities (43,892 ) (42,129 ) Net deferred tax asset, included in other assets $ 24,677 $ 29,680 A reconciliation of income tax expense at the statutory rate to the Company's actual income tax expense for the six months ended June 30, 2016 and 2015 is shown below: (In thousands) June 30, June 30, Computed at the statutory rate (35%) $ 24,444 $ 15,142 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax benefit 1,369 1,432 Tax exempt interest income (2,048 ) (2,284 ) Tax exempt earnings on BOLI (519 ) (364 ) Merger related expenses -- 569 Federal tax credits (53 ) (276 ) Other differences, net 234 213 Actual tax provision $ 23,427 $ 14,432 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. 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 | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
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 $102.5 million and $96.8 million at June 30, 2016 and December 31, 2015, respectively. The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of June 30, 2016 and December 31, 2015 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 June 30, 2016 Repurchase agreements: U.S. Government agencies $ 95,209 $ -- $ -- $ 7,329 $ 102,538 December 31, 2015 Repurchase agreements: U.S. Government agencies $ 89,512 $ -- $ -- $ 7,326 $ 96,838 |
Note 10 - Other Borrowings and
Note 10 - Other Borrowings and Subordinated Debentures | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 10: OTHER BORROWINGS AND SUBORDINATED DEBENTURES Debt at June 30, 2016 and December 31, 2015 consisted of the following components: (In thousands) June 30, 2016 December 31, Other Borrowings FHLB advances, net of discount, due 2016 to 2033, 0.83% to 7.37% secured by residential real estate loans $ 141,691 $ 109,989 Notes payable, due 10/15/2020, 3.85%, fixed rate, unsecured 50,136 52,300 Total other borrowings 191,827 162,289 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 9,175 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 10,052 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 5,164 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 5,084 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 10,089 10,022 Total subordinated debentures 60,184 60,570 Total other borrowings and subordinated debentures $ 252,011 $ 222,859 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. At June 30, 2016, the Company had $90.8 million of Federal Home Loan Bank (“FHLB”) advances with original maturities of one year or less. The Company had total FHLB advances of $141.7 million at June 30, 2016, with approximately $962.7 million of additional advances available from the FHLB. The FHLB advances are secured by mortgage loans and investment securities totaling approximately $1.086 billion at June 30, 2016. 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 June 30, 2016, are: (In thousands) Year Annual 2016 $ 97,276 2017 14,016 2018 24,682 2019 7,765 2020 36,435 Thereafter 71,837 Total $ 252,011 |
Note 11 - Contingent Liabilitie
Note 11 - Contingent Liabilities | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 11: 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 12 - Common Stock
Note 12 - Common Stock | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Capital Stock Disclosure [Text Block] | NOTE 12: COMMON STOCK During 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 at that time. 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. The Company suspended its stock repurchases in August of 2013, with 154,136 shares remaining available for repurchase under the program. 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 13 - Undivided Profits
Note 13 - Undivided Profits | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Restrictions on Dividends, Loans and Advances [Text Block] | NOTE 13: UNDIVIDED PROFITS 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 Commissioner of the Arkansas State Bank Department is required, if the total of all dividends declared by an Arkansas state bank in any calendar year exceeds seventy-five percent (75%) of the total of its net profits, as defined, for that year combined with seventy-five percent (75%) of its retained net profits of the preceding year. At June 30, 2016, the Company’s subsidiary bank had approximately $4.1 million available for payment of dividends to the Company, without prior regulatory approval. The risk-based capital guidelines of the Federal Reserve Board and the Arkansas State Bank Department include the definitions for (1) a well-capitalized institution, (2) an adequately-capitalized institution, and (3) an undercapitalized institution. Under the newly adopted Basel III Rules, the criteria for a well-capitalized institution are: a 5% "Tier l leverage capital" ratio, an 8% "Tier 1 risk-based capital" ratio, 10% "total risk-based capital" ratio; and a 6.50% “common equity Tier 1 (CET1)” ratio. The Company and Bank must hold a capital conservation buffer composed of CET1 capital above its minimum risk-based capital requirements. The implementation of the capital conservation buffer began on January 1, 2016, at the 0.625% level and will phase in over a four-year period (increasing by that amount on each subsequent January 1 until it reaches 2.5% on January 1, 2019). As of June 30, 2016, the Company and its subsidiary bank met all capital adequacy requirements under the Basel III Capital Rules, and management believes the Company and subsidiary bank would meet all Capital Rules on a fully phased-in basis if such requirements were currently effective. The Company's CET1 ratio was 14.08% at June 30, 2016. |
Note 14 - Stock Based Compensat
Note 14 - Stock Based Compensation | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 14: STOCK BASED COMPENSATION The Company’s Board of Directors has adopted various stock 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 the exercise of stock options or awarding of bonus shares granted to directors, officers and other key employees. The table below summarizes the transactions under the Company's active stock compensation plans for the six months ended June 30, 2016: Stock Options Non-Vested Stock Number Weighted Number Weighted Balance, January 1, 2016 484,497 $ 40.59 183,101 $ 35.65 Granted 58,090 47.02 142,827 47.51 Stock Options Exercised (45,657 ) 29.96 -- -- Stock Awards Vested -- -- (122,753 ) 41.39 Forfeited/Expired (5,145 ) 35.25 (30,579 ) 33.35 Balance, June 30, 2016 491,785 $ 42.39 172,596 $ 41.79 Exercisable, June 30, 2016 215,556 $ 38.83 The following table summarizes information about stock options under the plans outstanding at June 30, 2016: Options Outstanding Options Exercisable Range of Number Weighted Weighted Number Weighted $17.55 - $21.29 17,350 4.91 $ 19.78 11,500 $ 19.48 21.51 - 21.51 2,050 3.55 21.51 2,050 21.51 28.42 - 28.42 24,600 0.80 28.42 24,600 28.42 30.31 - 30.31 28,090 1.79 30.31 28,090 30.31 40.57 - 40.57 43,720 7.91 40.57 43,720 40.57 40.72 - 40.72 1,500 8.38 40.72 300 40.72 44.40 - 44.40 54,825 8.35 44.40 26,877 44.40 45.50 - 45.50 258,255 9.11 45.50 77,161 45.50 47.02 - 47.02 58,090 9.56 47.02 -- -- 48.13 - 48.13 3,305 9.21 48.13 1,258 48.13 $17.55 - $48.13 491,785 7.96 $ 42.39 215,556 $ 38.83 Total stock-based compensation expense was $2,097,000 and $1,077,000 during the six months ended June 30, 2016 and 2015, respectively. Stock-based compensation expense is recognized ratably over the requisite service period for all stock-based awards. There was $1,480,000 of unrecognized stock-based compensation expense related to stock options at June 30, 2016. Unrecognized stock-based compensation expense related to non-vested stock awards was $7,715,000 at June 30, 2016. At such date, the weighted-average period over which this unrecognized expense is expected to be recognized was 3.2 years. The intrinsic value of stock options outstanding and stock options exercisable at June 30, 2016 was $1,920,000 and $1,589,000. Aggregate intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the period, which was $46.19 as of June 30, 2016, and the exercise price multiplied by the number of options outstanding and exercisable at a price below that closing price. The total intrinsic value of stock options exercised during the six months ended June 30, 2016 and June 30, 2015, was $741,000 and $1,270,000, respectively. 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 six months ended June 30, 2016 and June 30, 2015 was $11.64 and $8.81 per share, respectively. 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: Six Months Ended Six Months Ended Expected dividend yield 1.96 % 2.15 % Expected stock price volatility 27.34 % 21.08 % Risk-free interest rate 2.01 % 2.01 % Expected life of options (years) 7 10 |
Note 15 - Additional Cash Flow
Note 15 - Additional Cash Flow Information | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | NOTE 15: ADDITIONAL CASH FLOW INFORMATION The following is a summary of the Company’s additional cash flow information during the six months ended: Six Months Ended (In thousands) 2016 2015 Interest paid $ 10,817 $ 9,413 Income taxes paid 21,610 13,981 Transfers of loans not covered by FDIC loss share to foreclosed assets held for sale 2,970 7,426 Transfers of loans acquired covered by FDIC loss share to foreclosed assets covered by FDIC loss share -- 2,288 Transfers of premises and equipment to premises held for sale 6,167 -- Transfers of premises held for sale to foreclosed assets held for sale 923 6,126 |
Note 16 - Other Operating Expen
Note 16 - Other Operating Expenses | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | NOTE 16: OTHER OPERATING EXPENSES Other operating expenses consist of the following: Three Months Ended Six Months Ended (In thousands) 2016 2015 2016 2015 Professional services $ 2,911 $ 2,261 $ 6,404 $ 4,135 Postage 1,074 1,085 2,309 2,017 Telephone 1,041 1,321 2,100 2,175 Credit card expense 2,542 2,280 5,372 4,271 Operating supplies 458 612 817 1,092 Amortization of intangibles 1,451 996 2,908 2,287 Branch right sizing expense 3,219 2,745 3,233 2,780 Other expense 6,836 6,741 12,784 11,456 Total other operating expenses $ 19,532 $ 18,041 $ 35,927 $ 30,213 |
Note 17 - Certain Transactions
Note 17 - Certain Transactions | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 17: CERTAIN TRANSACTIONS From time to time the Company and its subsidiaries have made loans and other extensions of credit to directors, officers, their associates and members of their immediate families. From time to time directors, officers and their associates and members of their immediate families have placed deposits with the Company’s subsidiary, Simmons Bank. Such loans, other extensions of credit and deposits were made in the ordinary course of business, on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons not related to the lender and did not involve more than normal risk of collectability or present other unfavorable features. |
Note 18 - Commitments and Credi
Note 18 - Commitments and Credit Risk | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | NOTE 18: COMMITMENTS AND CREDIT RISK The Company grants agri-business, commercial and residential loans to customers throughout Arkansas, Kansas, Missouri and Tennessee, along with credit card loans to customers throughout the United States. 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 June 30, 2016, the Company had outstanding commitments to extend credit aggregating approximately $639,407,000 and $926,432,000 for credit card commitments and other loan commitments. 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. 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 $25,961,000 and $23,515,000 at June 30, 2016, and December 31, 2015, respectively, with terms ranging from 9 months to 15 years. At June 30, 2016 and December 31, 2015, the Company had no deferred revenue under standby letter of credit agreements. |
Note 19 - Preferred Stock
Note 19 - Preferred Stock | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | NOTE 19: PREFERRED STOCK 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 paid quarterly dividends. The rate remained fixed at 1% through February 18, 2016, at which time it would convert to a fixed rate of 9%. On January 29, 2016, the Company redeemed all of the preferred stock, including accrued and unpaid dividends. |
Note 20 - Fair Value Measuremen
Note 20 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 20: FAIR VALUE MEASUREMENTS 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 June 30, 2016 and December 31, 2015. Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Significant Other Significant June 30, 2016 ASSETS Available-for-sale securities U.S. Treasury $ 4,305 $ 4,305 $ -- $ -- U.S. Government agencies 58,113 -- 58,113 -- Mortgage-backed securities 652,425 -- 652,425 -- State and political subdivisions 64,836 -- 64,836 -- Other securities 41,693 -- 41,693 -- Assets held in trading accounts 7,321 2,073 5,248 -- 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 -- 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 is performed on all loans over $1.5 million rated Substandard or worse, all existing impaired loans regardless of size and all TDRs. 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. Management’s 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 June 30, 2016 and December 31, 2015. Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Significant Other Significant June 30, 2016 ASSETS Impaired loans (1) (2) $ 13,160 $ -- $ -- $ 13,160 Foreclosed assets held for sale (1) 13,329 -- -- 13,329 December 31, 2015 ASSETS Impaired loans (1) (2) $ 19,027 $ -- $ -- $ 19,027 Foreclosed assets held for sale (1) 14,459 -- -- 14,459 ________________________ (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 $2,350,000 and $1,136,000 were related to the impaired collateral dependent loans for which fair value re-measurements took place during the periods ended June 30, 2016 and December 31, 2015, respectively. ASC Topic 825, Financial Instruments Cash and cash equivalents Interest bearing balances due from banks Held-to-maturity securities Loans Loans acquired 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 are as follows: Carrying Fair Value Measurements (In thousands) Amount Level 1 Level 2 Level 3 Total June 30, 2016 Financial assets: Cash and cash equivalents $ 250,607 $ 250,607 $ -- $ -- $ 250,607 Interest bearing balances due from banks - time 9,781 -- 9,781 -- 9,781 Held-to-maturity securities 632,154 -- 647,293 -- 647,293 Mortgage loans held for sale 30,529 -- -- 30,529 30,529 Interest receivable 24,150 -- 24,150 -- 24,150 Legacy loans (net of allowance) 3,691,899 -- -- 3,676,447 3,676,447 Loans acquired (net of allowance) 1,288,435 -- -- 1,283,042 1,283,042 Financial liabilities: Non-interest bearing transaction accounts 1,283,426 -- 1,283,426 -- 1,283,426 Interest bearing transaction accounts and savings deposits 3,538,808 -- 3,538,808 -- 3,538,808 Time deposits 1,205,969 -- -- 1,204,164 1,204,164 Federal funds purchased and securities sold under agreements to repurchase 103,038 -- 103,038 -- 103,038 Other borrowings 191,827 -- 201,124 -- 201,124 Subordinated debentures 60,184 -- 54,683 -- 54,683 Interest payable 1,690 -- 1,690 -- 1,690 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 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. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2016 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements ASU 2016-13 – Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments ASU 2016-09 – Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting ASU 2016-02 – Leases ASU 2016-01 – Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities ASU 2015-16 – Business Combinations: Simplifying the Accounting for Measurement-Period Adjustments ASU 2015-14 – Revenue from Contracts with Customers: Deferral of the Effective Date ASU 2015-08 – Business Combinations: Pushdown Accounting – Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 ASU 2015-02 – Consolidation (Topic 810): Amendments to the Consolidation Analysis There have been no other significant changes to the Company’s accounting policies from the 2015 Form 10-K. 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. |
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, other than purchased impaired loans, 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 2015, 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. |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Common Share (“EPS”) Basic EPS is computed by dividing reported net income available to common shareholders by weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing reported net income available to common shareholders by the weighted average common shares and all potential dilutive common shares outstanding during the period. Following is the computation of earnings per common share for the three and six months ended June 30, 2016 and 2015: Three Months Ended Six Months Ended (In thousands, except per share data) 2016 2015 2016 2015 Net income available to common shareholders $ 22,909 $ 20,018 $ 46,390 $ 28,727 Average common shares outstanding 30,353 29,867 30,340 26,084 Average potential dilutive common shares 99 120 99 120 Average diluted common shares 30,452 29,987 30,439 26,204 Basic earnings per share $ 0.75 $ 0.67 $ 1.53 $ 1.10 Diluted earnings per share (1) $ 0.75 $ 0.67 $ 1.52 $ 1.10 (1) EPS are computed independently for each quarter and therefore the sum of each quarterly EPS may not equal the year-to-date EPS. As a result of the large stock issuances during 2015 as part of the Company’s acquisitions, the computed independent quarterly average common shares outstanding and the computed year-to-date average common shares differ significantly. For purposes of calculating a roll-forward amount for 2015 year-to-date EPS, diluted EPS for the second quarter of 2015 would require a computed amount of $0.71, producing a difference of $.04 from actual second quarter diluted EPS of $0.67. This difference is based on the direct result of the varying denominator for each period presented. |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended (In thousands, except per share data) 2016 2015 2016 2015 Net income available to common shareholders $ 22,909 $ 20,018 $ 46,390 $ 28,727 Average common shares outstanding 30,353 29,867 30,340 26,084 Average potential dilutive common shares 99 120 99 120 Average diluted common shares 30,452 29,987 30,439 26,204 Basic earnings per share $ 0.75 $ 0.67 $ 1.53 $ 1.10 Diluted earnings per share (1) (2) $ 0.75 $ 0.67 $ 1.52 $ 1.10 |
Note 2 - Acquisitions (Tables)
Note 2 - Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
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 |
Note 3 - Investment Securities
Note 3 - Investment Securities (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Investment [Table Text Block] | June 30, 2016 December 31, 2015 (In thousands) Amortized Gross Gross Unrealized Estimated Amortized Gross Gross Unrealized Estimated Held-to-Maturity U.S. Government agencies $ 199,505 $ 549 $ (8 ) $ 200,046 $ 237,139 $ 582 $ (1,395 ) $ 236,326 Mortgage-backed securities 22,612 486 (11 ) 23,087 24,774 86 (290 ) 24,570 State and political subdivisions 407,273 14,128 (5 ) 421,396 440,676 9,138 (123 ) 449,691 Other securities 2,764 - - 2,764 2,784 - - 2,784 Total HTM $ 632,154 $ 15,163 $ (24 ) $ 647,293 $ 705,373 $ 9,806 $ (1,808 ) $ 713,371 Available-for-Sale U.S. Treasury $ 4,300 $ 5 $ - $ 4,305 $ 4,000 $ - $ (6 ) $ 3,994 U.S. Government agencies 58,099 14 - 58,113 121,017 118 (898 ) 120,237 Mortgage-backed securities 643,820 8,643 (38 ) 652,425 650,619 937 (4,130 ) 647,426 State and political subdivisions 63,825 1,070 (59 ) 64,836 9,762 112 - 9,874 Other securities 41,030 685 (22 ) 41,693 39,594 420 (138 ) 39,876 Total AFS $ 811,074 $ 10,417 $ (119 ) $ 821,372 $ 824,992 $ 1,587 $ (5,172 ) $ 821,407 |
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 Held-to-Maturity U.S. Government agencies $ - $ - $ 19,992 $ (8 ) $ 19,992 $ (8 ) Mortgage-backed securities 1,336 (3 ) 2,898 (8 ) 4,234 (11 ) State and political subdivisions 2,056 (4 ) 670 (1 ) 2,726 (5 ) Total HTM $ 3,392 $ (7 ) $ 23,560 $ (17 ) $ 26,952 $ (24 ) Available-for-Sale Mortgage-backed securities $ 26,441 $ (38 ) $ - $ - $ 26,441 $ (38 ) State and political subdivisions 11,928 (59 ) - - 11,928 (59 ) Other securities 60 (22 ) - - 60 (22 ) Total AFS $ 38,429 $ (119 ) $ - $ - $ 38,429 $ (119 ) |
Investment Income [Table Text Block] | Three Months Ended Six Months Ended (In thousands) 2016 2015 2016 2015 Taxable: Held-to-maturity $ 1,446 $ 1,307 $ 2,323 $ 2,696 Available-for-sale 4,492 3,172 8,926 4,755 Non-taxable: Held-to-maturity 2,399 2,732 5,545 5,334 Available-for-sale 162 839 211 1,144 Total $ 8,499 $ 8,050 $ 17,005 $ 13,929 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Held-to-Maturity Available-for-Sale (In thousands) Amortized Fair Amortized Fair One year or less $ 87,294 $ 87,350 $ 9,409 $ 9,417 After one through five years 219,404 221,094 56,352 56,393 After five through ten years 116,567 120,081 4,144 4,314 After ten years 186,277 195,681 57,619 58,429 Securities not due on a single maturity date 22,612 23,087 643,820 652,425 Other securities (no maturity) - - 39,730 40,394 Total $ 632,154 $ 647,293 $ 811,074 $ 821,372 |
Note 4 - Loans and Allowance 33
Note 4 - Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | (In thousands) June 30, December 31, Consumer: Credit cards $ 171,468 $ 177,288 Other consumer 248,018 208,380 Total consumer 419,486 385,668 Real Estate: Construction 330,666 279,740 Single family residential 785,289 696,180 Other commercial 1,414,663 1,229,072 Total real estate 2,530,618 2,204,992 Commercial: Commercial 577,771 500,116 Agricultural 187,047 148,563 Total commercial 764,818 648,679 Other 10,500 7,115 Loans 3,725,422 3,246,454 Loans acquired, net of discount and allowance (1) 1,288,435 1,672,901 Total loans $ 5,013,857 $ 4,919,355 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In thousands) June 30, December 31, Consumer: Credit cards $ 266 $ 212 Other consumer 1,205 442 Total consumer 1,471 654 Real estate: Construction 5,312 4,955 Single family residential 10,353 5,453 Other commercial 21,522 4,420 Total real estate 37,187 14,828 Commercial: Commercial 2,985 1,968 Agricultural 1,662 264 Total commercial 4,647 2,232 Total $ 43,305 $ 17,714 |
Past Due Financing Receivables [Table Text Block] | (In thousands) Gross 90 Days Total Current Total 90 Days June 30, 2016 Consumer: Credit cards $ 631 $ 434 $ 1,065 $ 170,403 $ 171,468 $ 168 Other consumer 1,529 800 2,329 245,689 248,018 36 Total consumer 2,160 1,234 3,394 416,092 419,486 204 Real estate: Construction 761 2,413 3,174 327,492 330,666 - Single family residential 5,034 5,430 10,464 774,825 785,289 23 Other commercial 3,267 3,441 6,708 1,407,955 1,414,663 - Total real estate 9,062 11,284 20,346 2,510,272 2,530,618 23 Commercial: Commercial 2,712 1,120 3,832 573,939 577,771 - Agricultural 1,189 840 2,029 185,018 187,047 - Total commercial 3,901 1,960 5,861 758,957 764,818 - Other - - - 10,500 10,500 - Total $ 15,123 $ 14,478 $ 29,601 $ 3,695,821 $ 3,725,422 $ 227 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 93 201 6,914 7,115 15 Total $ 13,391 $ 13,255 $ 26,646 $ 3,219,808 $ 3,246,454 $ 1,191 |
Impaired Financing Receivables [Table Text Block] | (In thousands) Unpaid Contractual Principal Balance Recorded Investment With No Allowance Recorded Investment With Allowance Total Recorded Investment Related Allowance Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized June 30, 2016 Three Months Ended Six Months Ended Consumer: Credit cards $ 433 $ 433 $ - $ 433 $ - $ 216 $ - $ 304 $ 10 Other consumer 1,257 1,225 17 1,242 6 841 12 708 18 Total consumer 1,690 1,658 17 1,675 6 1,057 12 1,012 28 Real estate: Construction 6,209 2,414 2,898 5,312 155 5,089 61 5,044 126 Single family residential 10,879 8,946 1,510 10,456 115 9,032 110 7,904 197 Other commercial 22,990 7,484 14,393 21,877 2,810 19,976 220 14,789 370 Total real estate 40,078 18,844 18,801 37,645 3,080 34,097 391 27,737 693 Commercial: Commercial 4,116 2,477 369 2,846 63 2,539 31 2,355 59 Agricultural 2,634 1,625 - 1,625 - 1,084 15 810 20 Total commercial 6,750 4,102 369 4,471 63 3,623 46 3,165 79 Total $ 48,518 $ 24,604 $ 19,187 $ 43,791 $ 3,149 $ 38,777 $ 449 $ 31,914 $ 800 December 31, 2015 Three Months Ended Six Months Ended Consumer: Credit cards $ 479 $ 479 $ - $ 479 $ 7 $ 459 $ 7 $ 372 $ 12 Other consumer 459 423 19 442 85 538 11 565 19 Total consumer 938 902 19 921 92 997 18 937 31 Real estate: Construction 5,678 1,636 3,318 4,954 441 5,066 107 5,717 197 Single family residential 5,938 4,702 945 5,647 1,034 5,251 93 4,942 170 Other commercial 5,688 4,328 88 4,416 832 3,104 48 2,563 88 Total real estate 17,304 10,666 4,351 15,017 2,307 13,421 248 13,222 455 Commercial: Commercial 2,656 1,654 334 1,988 387 2,054 29 1,558 54 Agricultural 264 264 - 264 45 166 5 264 9 Total commercial 2,920 1,918 334 2,252 432 2,220 34 1,822 63 Total $ 21,162 $ 13,486 $ 4,704 $ 18,190 $ 2,831 $ 16,638 $ 300 $ 15,981 $ 549 |
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 June 30, 2016 Consumer: Other consumer -- $ -- 2 $ 15 2 $ 15 Total consumer -- -- 2 15 2 15 Real estate: Construction -- -- 1 139 1 139 Single-family residential 3 184 18 1,870 21 2,054 Other commercial 25 10,302 2 1,769 27 12,071 Total real estate 28 10,486 21 3,778 49 14,264 Commercial: Commercial 10 401 5 312 15 713 Total commercial 10 401 5 312 15 713 Total 38 $ 10,887 28 $ 4,105 66 $ 14,992 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 |
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 Three Months Ended June 30, 2016 Consumer: Other consumer 1 $ 3 $ 3 $ 3 $ -- $ -- Total consumer 1 3 3 3 -- -- Real Estate: Single-family residential 7 618 615 61 554 -- Other commercial 1 348 364 -- 364 -- Total real estate 8 966 979 61 918 -- Commercial: Commercial 9 426 399 399 -- -- Total commercial 9 426 399 399 -- -- Total 18 $ 1,395 $ 1,381 $ 463 $ 918 $ -- Three Months Ended June 30, 2015 Real Estate: Single-family residential 4 $ 361 $ 361 $ 361 $ -- $ -- Other commercial 1 19 19 19 -- -- Total real estate 5 380 380 380 -- -- Total 5 $ 380 $ 380 $ 380 $ -- $ -- Six Months Ended June 30, 2016 Consumer: Other consumer 1 $ 3 $ 3 $ 3 $ -- $ -- Total consumer 1 3 3 3 -- -- Real estate: Single-family residential 9 796 793 239 554 -- Other commercial 25 8,962 8,931 8,567 364 -- Total real estate 34 9,758 9,724 8,806 918 -- Commercial: Commercial 11 600 572 572 -- -- Total commercial 11 600 572 572 -- -- Total 46 $ 10,361 $ 10,299 $ 9,381 $ 918 $ -- Six Months Ended June 30, 2015 Real estate: Single-family residential 6 $ 709 $ 701 $ 701 $ -- $ -- Other commercial 1 19 19 19 -- -- Total real estate 7 728 720 720 -- -- Total 7 $ 728 $ 720 $ 720 $ -- $ -- |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total June 30, 2016 Consumer: Credit cards $ 171,035 $ -- $ 433 $ -- $ -- $ 171,468 Other consumer 246,491 44 1,463 20 -- 248,018 Total consumer 417,526 44 1,896 20 -- 419,486 Real estate: Construction 319,592 103 10,955 16 -- 330,666 Single family residential 761,813 3,605 19,707 164 -- 785,289 Other commercial 1,351,541 7,127 55,995 -- -- 1,414,663 Total real estate 2,432,946 10,835 86,657 180 -- 2,530,618 Commercial: Commercial 558,439 5,140 14,162 30 -- 577,771 Agricultural 185,028 228 1,791 -- -- 187,047 Total commercial 743,467 5,368 15,953 30 -- 764,818 Other 10,500 -- -- -- -- 10,500 Loans acquired 1,212,261 19,520 54,740 1,914 -- 1,288,435 Total $ 4,816,700 $ 35,767 $ 159,246 $ 2,144 $ -- $ 5,013,857 (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 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 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | (In thousands) Commercial Real Credit Other Total Three Months Ended June 30, 2016 Balance, beginning of period (2) $ 7,083 $ 19,925 $ 3,757 $ 1,916 $ 32,681 Provision for loan losses (1) 2,714 423 440 732 4,309 Charge-offs (2,283 ) (824 ) (702 ) (489 ) (4,298 ) Recoveries 318 111 253 149 831 Net recoveries (charge-offs) (1,965 ) (713 ) (449 ) (340 ) (3,467 ) Balance, June 30, 2016 (2) $ 7,832 $ 19,635 $ 3,748 $ 2,308 $ 33,523 Six Months Ended June 30, 2016 Balance, beginning of period (2) $ 5,985 $ 19,522 $ 3,893 $ 1,951 $ 31,351 Provision for loan losses (1) 4,281 943 921 987 7,132 Charge-offs (2,759 ) (1,053 ) (1,561 ) (882 ) (6,255 ) Recoveries 325 223 495 252 1,295 Net charge-offs (2,434 ) (830 ) (1,066 ) (630 ) (4,960 ) Balance, June 30, 2016 (2) $ 7,832 $ 19,635 $ 3,748 $ 2,308 $ 33,523 Period-end amount allocated to: Loans individually evaluated for impairment $ 63 $ 3,080 $ -- $ 6 $ 3,149 Loans collectively evaluated for impairment 7,769 16,555 3,748 2,302 30,374 Balance, June 30, 2016 (2) $ 7,832 $ 19,635 $ 3,748 $ 2,308 $ 33,523 (In thousands) Commercial Real Credit Other Total Three Months Ended June 30, 2015 Balance, beginning of period (4) $ 6,870 $ 15,553 $ 5,527 $ 1,233 $ 29,183 Provision for loan losses (3) (1,569 ) 3,311 352 308 2,402 Charge-offs -- (333 ) (802 ) (366 ) (1,501 ) Recoveries 9 46 241 187 483 Net charge-offs 9 (287 ) (561 ) (179 ) (1,018 ) Balance, June 30, 2015 (4) $ 5,310 $ 18,577 $ 5,318 $ 1,362 $ 30,567 Six Months Ended June 30, 2015 Balance, beginning of period (4) $ 6,962 $ 15,161 $ 5,445 $ 1,460 $ 29,028 Provision for loan losses (3) (1,585 ) 3,984 1,006 168 3,573 Charge-offs (245 ) (626 ) (1,587 ) (586 ) (3,044 ) Recoveries 178 58 454 320 1,010 Net charge-offs (67 ) (568 ) (1,133 ) (266 ) (2,034 ) Balance, June 30, 2015 (4) $ 5,310 $ 18,577 $ 5,318 $ 1,362 $ 30,567 Period-end amount allocated to: Loans individually evaluated for impairment $ 396 $ 1,513 $ 14 $ 89 $ 2,012 Loans collectively evaluated for impairment 4,914 17,064 5,304 1,273 28,555 Balance, June 30, 2015 (4) $ 5,310 $ 18,577 $ 5,318 $ 1,362 $ 30,567 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, December 31, 2015 (5) $ 5,985 $ 19,522 $ 3,893 $ 1,951 $ 31,351 |
Schedule of Loans by impairment evaluation [Table Text Block] | (In thousands) Commercial Real Credit Other Total June 30, 2016 Loans individually evaluated for impairment $ 4,471 $ 37,645 $ 433 $ 1,242 $ 43,791 Loans collectively evaluated for impairment 760,347 2,492,973 171,035 257,276 3,681,631 Balance, end of period $ 764,818 $ 2,530,618 $ 171,468 $ 258,518 $ 3,725,422 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 |
Note 5 - Loans Acquired (Tables
Note 5 - Loans Acquired (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Acquired Loans [Member] | |
Notes Tables | |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In thousands) June 30, December 31, Consumer: Other consumer $ 86 $ 71 Total consumer 86 71 Real estate: Construction 992 783 Single family residential 8,340 7,795 Other commercial 3,319 6,435 Total real estate 12,651 15,013 Commercial: Commercial 1,453 3,859 Agricultural 52 8 Total commercial 1,505 3,867 Total $ 14,242 $ 18,951 |
Past Due Financing Receivables [Table Text Block] | (In thousands) Gross 90 Days Total Current Total 90 Days June 30, 2016 Consumer: Other consumer $ 635 $ 24 $ 659 $ 52,413 $ 53,072 $ -- Total consumer 635 24 659 52,413 53,072 -- Real estate: Construction 69 6,833 6,902 31,607 38,509 -- Single family residential 4,980 4,205 9,185 396,976 406,161 -- Other commercial 10,616 12,081 22,697 662,427 685,124 -- Total real estate 15,665 23,119 38,784 1,091,010 1,129,794 -- Commercial: Commercial 664 2,686 3,350 98,634 101,984 -- Agricultural 53 52 105 3,480 3,585 -- Total commercial 717 2,738 3,455 102,114 105,569 -- Total $ 17,017 $ 25,881 $ 42,898 $ 1,245,537 $ 1,288,435 $ -- 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 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total June 30, 2016 Consumer: Other consumer $ 52,857 $ 18 $ 197 $ -- $ -- $ 53,072 Total consumer 52,857 18 197 -- -- 53,072 Real estate: Construction 32,341 69 6,099 -- -- 38,509 Single family residential 389,529 1,482 13,489 1,661 -- 406,161 Other commercial 642,307 16,202 26,615 -- -- 685,124 Total real estate 1,064,177 17,753 46,203 1,661 -- 1,129,794 Commercial: Commercial 91,957 1,698 8,076 253 -- 101,984 Agricultural 3,270 51 264 -- -- 3,585 Total commercial 95,227 1,749 8,340 253 -- 105,569 Total $ 1,212,261 $ 19,520 $ 54,740 $ 1,914 $ -- $ 1,288,435 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 |
Carrying Value Of All Acquired Impaired Loans [Table Text Block] | Loans Acquired (in thousands) June 30, December 31, Consumer: Other consumer $ 53,072 $ 75,606 Total consumer 53,072 75,606 Real estate: Construction 38,509 77,119 Single family residential 406,161 501,002 Other commercial 685,124 854,068 Total real estate 1,129,794 1,432,189 Commercial: Commercial 101,984 154,533 Agricultural 3,585 10,573 Total commercial 105,569 165,106 Total loans acquired (1) $ 1,288,435 $ 1,672,901 |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | (In thousands) June 30, December 31, Consumer: Credit cards $ 266 $ 212 Other consumer 1,205 442 Total consumer 1,471 654 Real estate: Construction 5,312 4,955 Single family residential 10,353 5,453 Other commercial 21,522 4,420 Total real estate 37,187 14,828 Commercial: Commercial 2,985 1,968 Agricultural 1,662 264 Total commercial 4,647 2,232 Total $ 43,305 $ 17,714 |
Past Due Financing Receivables [Table Text Block] | (In thousands) Gross 90 Days Total Current Total 90 Days June 30, 2016 Consumer: Credit cards $ 631 $ 434 $ 1,065 $ 170,403 $ 171,468 $ 168 Other consumer 1,529 800 2,329 245,689 248,018 36 Total consumer 2,160 1,234 3,394 416,092 419,486 204 Real estate: Construction 761 2,413 3,174 327,492 330,666 - Single family residential 5,034 5,430 10,464 774,825 785,289 23 Other commercial 3,267 3,441 6,708 1,407,955 1,414,663 - Total real estate 9,062 11,284 20,346 2,510,272 2,530,618 23 Commercial: Commercial 2,712 1,120 3,832 573,939 577,771 - Agricultural 1,189 840 2,029 185,018 187,047 - Total commercial 3,901 1,960 5,861 758,957 764,818 - Other - - - 10,500 10,500 - Total $ 15,123 $ 14,478 $ 29,601 $ 3,695,821 $ 3,725,422 $ 227 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 93 201 6,914 7,115 15 Total $ 13,391 $ 13,255 $ 26,646 $ 3,219,808 $ 3,246,454 $ 1,191 |
Financing Receivable Credit Quality Indicators [Table Text Block] | (In thousands) Risk Rate Risk Rate Risk Rate Risk Rate Risk Rate Total June 30, 2016 Consumer: Credit cards $ 171,035 $ -- $ 433 $ -- $ -- $ 171,468 Other consumer 246,491 44 1,463 20 -- 248,018 Total consumer 417,526 44 1,896 20 -- 419,486 Real estate: Construction 319,592 103 10,955 16 -- 330,666 Single family residential 761,813 3,605 19,707 164 -- 785,289 Other commercial 1,351,541 7,127 55,995 -- -- 1,414,663 Total real estate 2,432,946 10,835 86,657 180 -- 2,530,618 Commercial: Commercial 558,439 5,140 14,162 30 -- 577,771 Agricultural 185,028 228 1,791 -- -- 187,047 Total commercial 743,467 5,368 15,953 30 -- 764,818 Other 10,500 -- -- -- -- 10,500 Loans acquired 1,212,261 19,520 54,740 1,914 -- 1,288,435 Total $ 4,816,700 $ 35,767 $ 159,246 $ 2,144 $ -- $ 5,013,857 (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 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 |
Tabular Temporal Display Of Adjustments Related To Purchased Covered Impaired Loans [Table Text Block] | Three Months Ended Six Months Ended (In thousands) 2016 2015 2016 2015 Impact on net interest income $ 80 $ 3,223 $ 1,175 $ 9,325 Non-interest income (1) -- (2,941 ) -- (5,686 ) Net impact to pre-tax income 80 282 1,175 3,639 Net impact, net of taxes $ 49 $ 171 $ 714 $ 2,212 |
Tabular Temporal Display of Accretable Yield [Table Text Block] | Three Months Ended Six Months Ended (In thousands) Accretable Carrying Accretable Carrying Beginning balance $ 2,034 $ 21,259 $ 954 $ 23,469 Additions -- -- -- -- Accretable yield adjustments 642 -- 3,074 -- Accretion (311 ) 311 (1,663 ) 1,663 Payments and other reductions, net -- (907 ) -- (4,469 ) Balance, ending $ 2,365 $ 20,663 $ 2,365 $ 20,663 Three Months Ended Six Months Ended (In thousands) Accretable Carrying Accretable Carrying Beginning balance $ 17,226 $ 177,691 $ 20,635 $ 169,098 Additions -- -- (116 ) 17,750 Accretable yield adjustments 2,369 -- 5,443 -- Accretion (4,547 ) 4,547 (10,914 ) 10,914 Payments and other reductions, net -- (22,144 ) -- (37,668 ) Balance, ending $ 15,048 $ 160,094 $ 15,048 $ 160,094 |
Note 6 - Goodwill and Other I35
Note 6 - Goodwill and Other Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Core Deposit Premium [Member] | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (In thousands) Year Amortization Remainder of 2016 $ 2,907 2017 5,815 2018 5,711 2019 5,401 2020 5,389 Thereafter 25,106 Total $ 50,329 |
Schedule of Intangible Assets and Goodwill [Table Text Block] | (In thousands) June 30, December 31, Goodwill $ 327,686 $ 327,686 Core deposit premiums: Gross carrying amount 43,617 43,648 Accumulated amortization (8,349 ) (6,217 ) Core deposit premiums, net 35,268 37,431 Purchased credit card relationships: Gross carrying amount 2,068 2,068 Accumulated amortization (1,138 ) (931 ) Purchased credit card relationships, net 930 1,137 Books of business intangible: Gross carrying amount 15,293 15,293 Accumulated amortization (1,162 ) (624 ) Books of business intangible, net 14,131 14,669 Other intangible assets, net 50,329 53,237 Total goodwill and other intangible assets $ 378,015 $ 380,923 |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | (In thousands) June 30, June 30, Income taxes currently payable $ 22,812 $ 16,204 Deferred income taxes 615 (1,772 ) Provision for income taxes $ 23,427 $ 14,432 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | (In thousands) June 30, December 31, Deferred tax assets: Loans acquired $ 11,644 $ 14,716 Allowance for loan losses 13,515 12,700 Valuation of foreclosed assets 11,183 11,212 Tax NOLs from acquisition 14,593 14,593 Deferred compensation payable 2,769 2,767 Vacation compensation 2,204 2,250 Accrued equity and other compensation 5,903 5,197 Acquired securities 1,766 1,770 Other accrued liabilities 1,938 1,943 Unrealized loss on available-for-sale securities -- 1,655 Other 3,054 3,006 Gross deferred tax assets 68,569 71,809 Deferred tax liabilities: Goodwill and other intangible amortization (29,709 ) (30,550 ) Limitations under IRC Sec 382 (3,481 ) (3,478 ) Accumulated depreciation (3,893 ) (3,914 ) Unrealized gain on available-for-sale securities (2,733 ) -- Other (4,076 ) (4,187 ) Gross deferred tax liabilities (43,892 ) (42,129 ) Net deferred tax asset, included in other assets $ 24,677 $ 29,680 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | (In thousands) June 30, June 30, Computed at the statutory rate (35%) $ 24,444 $ 15,142 Increase (decrease) in taxes resulting from: State income taxes, net of federal tax benefit 1,369 1,432 Tax exempt interest income (2,048 ) (2,284 ) Tax exempt earnings on BOLI (519 ) (364 ) Merger related expenses -- 569 Federal tax credits (53 ) (276 ) Other differences, net 234 213 Actual tax provision $ 23,427 $ 14,432 |
Note 9 - Securities Sold Unde37
Note 9 - Securities Sold Under Agreements to Repurchase (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
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 June 30, 2016 Repurchase agreements: U.S. Government agencies $ 95,209 $ -- $ -- $ 7,329 $ 102,538 December 31, 2015 Repurchase agreements: U.S. Government agencies $ 89,512 $ -- $ -- $ 7,326 $ 96,838 |
Note 10 - Other Borrowings an38
Note 10 - Other Borrowings and Subordinated Debentures (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | (In thousands) June 30, 2016 December 31, Other Borrowings FHLB advances, net of discount, due 2016 to 2033, 0.83% to 7.37% secured by residential real estate loans $ 141,691 $ 109,989 Notes payable, due 10/15/2020, 3.85%, fixed rate, unsecured 50,136 52,300 Total other borrowings 191,827 162,289 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 9,175 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 10,052 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 5,164 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 5,084 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 10,089 10,022 Total subordinated debentures 60,184 60,570 Total other borrowings and subordinated debentures $ 252,011 $ 222,859 |
Schedule of Maturities of Long-term Debt [Table Text Block] | (In thousands) Year Annual 2016 $ 97,276 2017 14,016 2018 24,682 2019 7,765 2020 36,435 Thereafter 71,837 Total $ 252,011 |
Note 14 - Stock Based Compens39
Note 14 - Stock Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock Options Non-Vested Stock Number Weighted Number Weighted Balance, January 1, 2016 484,497 $ 40.59 183,101 $ 35.65 Granted 58,090 47.02 142,827 47.51 Stock Options Exercised (45,657 ) 29.96 -- -- Stock Awards Vested -- -- (122,753 ) 41.39 Forfeited/Expired (5,145 ) 35.25 (30,579 ) 33.35 Balance, June 30, 2016 491,785 $ 42.39 172,596 $ 41.79 Exercisable, June 30, 2016 215,556 $ 38.83 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Range of Number Weighted Weighted Number Weighted $17.55 - $21.29 17,350 4.91 $ 19.78 11,500 $ 19.48 21.51 - 21.51 2,050 3.55 21.51 2,050 21.51 28.42 - 28.42 24,600 0.80 28.42 24,600 28.42 30.31 - 30.31 28,090 1.79 30.31 28,090 30.31 40.57 - 40.57 43,720 7.91 40.57 43,720 40.57 40.72 - 40.72 1,500 8.38 40.72 300 40.72 44.40 - 44.40 54,825 8.35 44.40 26,877 44.40 45.50 - 45.50 258,255 9.11 45.50 77,161 45.50 47.02 - 47.02 58,090 9.56 47.02 -- -- 48.13 - 48.13 3,305 9.21 48.13 1,258 48.13 $17.55 - $48.13 491,785 7.96 $ 42.39 215,556 $ 38.83 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Six Months Ended Six Months Ended Expected dividend yield 1.96 % 2.15 % Expected stock price volatility 27.34 % 21.08 % Risk-free interest rate 2.01 % 2.01 % Expected life of options (years) 7 10 |
Note 15 - Additional Cash Flo40
Note 15 - Additional Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Six Months Ended (In thousands) 2016 2015 Interest paid $ 10,817 $ 9,413 Income taxes paid 21,610 13,981 Transfers of loans not covered by FDIC loss share to foreclosed assets held for sale 2,970 7,426 Transfers of loans acquired covered by FDIC loss share to foreclosed assets covered by FDIC loss share -- 2,288 Transfers of premises and equipment to premises held for sale 6,167 -- Transfers of premises held for sale to foreclosed assets held for sale 923 6,126 |
Note 16 - Other Operating Exp41
Note 16 - Other Operating Expenses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Three Months Ended Six Months Ended (In thousands) 2016 2015 2016 2015 Professional services $ 2,911 $ 2,261 $ 6,404 $ 4,135 Postage 1,074 1,085 2,309 2,017 Telephone 1,041 1,321 2,100 2,175 Credit card expense 2,542 2,280 5,372 4,271 Operating supplies 458 612 817 1,092 Amortization of intangibles 1,451 996 2,908 2,287 Branch right sizing expense 3,219 2,745 3,233 2,780 Other expense 6,836 6,741 12,784 11,456 Total other operating expenses $ 19,532 $ 18,041 $ 35,927 $ 30,213 |
Note 20 - Fair Value Measurem42
Note 20 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Significant Other Significant June 30, 2016 ASSETS Available-for-sale securities U.S. Treasury $ 4,305 $ 4,305 $ -- $ -- U.S. Government agencies 58,113 -- 58,113 -- Mortgage-backed securities 652,425 -- 652,425 -- State and political subdivisions 64,836 -- 64,836 -- Other securities 41,693 -- 41,693 -- Assets held in trading accounts 7,321 2,073 5,248 -- 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 -- |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value Measurements Using (In thousands) Fair Value Quoted Prices in Significant Other Significant June 30, 2016 ASSETS Impaired loans (1) (2) $ 13,160 $ -- $ -- $ 13,160 Foreclosed assets held for sale (1) 13,329 -- -- 13,329 December 31, 2015 ASSETS Impaired loans (1) (2) $ 19,027 $ -- $ -- $ 19,027 Foreclosed assets held for sale (1) 14,459 -- -- 14,459 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Fair Value Measurements (In thousands) Amount Level 1 Level 2 Level 3 Total June 30, 2016 Financial assets: Cash and cash equivalents $ 250,607 $ 250,607 $ -- $ -- $ 250,607 Interest bearing balances due from banks - time 9,781 -- 9,781 -- 9,781 Held-to-maturity securities 632,154 -- 647,293 -- 647,293 Mortgage loans held for sale 30,529 -- -- 30,529 30,529 Interest receivable 24,150 -- 24,150 -- 24,150 Legacy loans (net of allowance) 3,691,899 -- -- 3,676,447 3,676,447 Loans acquired (net of allowance) 1,288,435 -- -- 1,283,042 1,283,042 Financial liabilities: Non-interest bearing transaction accounts 1,283,426 -- 1,283,426 -- 1,283,426 Interest bearing transaction accounts and savings deposits 3,538,808 -- 3,538,808 -- 3,538,808 Time deposits 1,205,969 -- -- 1,204,164 1,204,164 Federal funds purchased and securities sold under agreements to repurchase 103,038 -- 103,038 -- 103,038 Other borrowings 191,827 -- 201,124 -- 201,124 Subordinated debentures 60,184 -- 54,683 -- 54,683 Interest payable 1,690 -- 1,690 -- 1,690 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 |
Note 1 - Basis of Presentatio43
Note 1 - Basis of Presentation (Details Textual) - USD ($) | Sep. 15, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Employee Stock Option [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 258,255 | 65,005 | ||||
Stock Compensation Plan [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 258,255 | 65,005 | ||||
Roll-Forward Calculation of EPS [Member] | ||||||
Earnings Per Share, Diluted | $ 0.71 | |||||
Difference between Sum of Quarterly EPS and Year-to-date EPS [Member] | ||||||
Earnings Per Share, Diluted | 0.04 | |||||
FDIC Indemnification Asset, Cash Payments Received | $ 2,368,000 | $ 2,368,000 | ||||
Gain (Loss) on Contract Termination | $ (7,476,000) | $ (7,476,000) | ||||
Earnings Per Share, Diluted | [1],[2] | $ 0.75 | $ 0.67 | $ 1.52 | $ 1.10 | |
[1] | EPS are computed independently for each quarter and therefore the sum of each quarterly EPS may not equal the year-to-date EPS. As a result of the large stock issuances during 2015 as part of the Companys acquisitions, the computed independent quarterly average common shares outstanding and the computed year-to-date average common shares differ significantly. For purposes of calculating a roll-forward amount for 2015 year-to-date EPS, diluted EPS for the second quarter of 2015 would require a computed amount of $0.71, producing a difference of $.04 from actual second quarter diluted EPS of $0.67. This difference is based on the direct result of the varying denominator for each period presented. | |||||
[2] | Stock options to purchase 258,255 and 65,005 shares for the three and six months ended June 30, 2016 and 2015, respectively, were not included in the diluted EPS calculation because the exercise price of those options exceeded the average market price. |
Note 1 - Earnings Per Share (De
Note 1 - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Net income available to common shareholders | $ 22,909 | $ 20,018 | $ 46,390 | $ 28,727 | |
Average common shares outstanding (in shares) | 30,353 | 29,867 | 30,340 | 26,084 | |
Average potential dilutive common shares (in shares) | 99 | 120 | 99 | 120 | |
Average diluted common shares (in shares) | 30,452 | 29,987 | 30,439 | 26,204 | |
Basic earnings per share (in dollars per share) | $ 0.75 | $ 0.67 | $ 1.53 | $ 1.10 | |
Earnings Per Share, Diluted | [1],[2] | $ 0.75 | $ 0.67 | $ 1.52 | $ 1.10 |
[1] | EPS are computed independently for each quarter and therefore the sum of each quarterly EPS may not equal the year-to-date EPS. As a result of the large stock issuances during 2015 as part of the Companys acquisitions, the computed independent quarterly average common shares outstanding and the computed year-to-date average common shares differ significantly. For purposes of calculating a roll-forward amount for 2015 year-to-date EPS, diluted EPS for the second quarter of 2015 would require a computed amount of $0.71, producing a difference of $.04 from actual second quarter diluted EPS of $0.67. This difference is based on the direct result of the varying denominator for each period presented. | ||||
[2] | Stock options to purchase 258,255 and 65,005 shares for the three and six months ended June 30, 2016 and 2015, respectively, were not included in the diluted EPS calculation because the exercise price of those options exceeded the average market price. |
Note 2 - Acquisitions (Details
Note 2 - Acquisitions (Details Textual) | Oct. 29, 2015USD ($)shares | Feb. 28, 2015shares | Feb. 27, 2015USD ($)shares | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Oct. 28, 2015USD ($) |
Liberty Bancshares, Inc. [Member] | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of 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 Percentage of Fair Value Adjustment Deferred Tax Asset | 39.225% | |||||||
Business Combination, Consideration Transferred | $ 212,176,000 | |||||||
Community First Bancshares Inc [Member] | Preferred Stock [Member] | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 30,900,000 | |||||||
Community First Bancshares Inc [Member] | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of 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, Assets | $ 1,915,061,000 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | 1,136,543,000 | |||||||
Deposits | 1,500,000,000 | |||||||
Goodwill | $ 110,440,000 | |||||||
Business 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, Consideration Transferred | $ 299,204,000 | |||||||
OTIC and TCO [Member] | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of 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 Percentage of Fair Value Adjustment Deferred Tax Asset | 39.225% | |||||||
Payments to Acquire Businesses, Gross | $ 5,800,000 | |||||||
Assets under Management, Carrying Amount | $ 1,000,000,000 | |||||||
Number of Investment in Shares Repurchased Through Acquisition | shares | 1,000 | |||||||
Business Combination, Consideration Transferred | $ 23,623,000 | |||||||
Citizens National Bank [Member] | Scenario, Forecast [Member] | ||||||||
Business Combination, Consideration Transferred | $ 77,000,000 | |||||||
Citizens National Bank [Member] | ||||||||
Assets | $ 552,000,000 | |||||||
Deposits | $ 6,028,203,000 | $ 6,086,096,000 | ||||||
Goodwill | 327,686,000 | 327,686,000 | ||||||
Assets | $ 7,534,219,000 | $ 7,559,658,000 |
Note 2 - Assets Acquired and Li
Note 2 - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Oct. 29, 2015 | Feb. 27, 2015 | Jun. 30, 2016 | Dec. 31, 2015 |
Liberty Bancshares, Inc. [Member] | Cost Acquired [Member] | ||||
Cash and due from banks, including time deposits | $ 102,637 | |||
Federal funds sold | 7,060 | |||
Investment securities | 99,123 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, 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 | |||
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 and other liabilities | 7,828 | |||
Total liabilities assumed | 949,290 | |||
Equity | 112,277 | |||
Total liabilities and equity assumed | 1,061,567 | |||
Net assets acquired | ||||
Purchase price | ||||
Goodwill | ||||
Investment securities | 99,123 | |||
Liberty Bancshares, Inc. [Member] | Fair Value Adjustments [Member] | ||||
Cash and due from banks, including time deposits | (14) | |||
Federal funds sold | ||||
Investment securities | (335) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, 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 | ||||
Core deposit intangible | 13,857 | |||
Other intangibles | (3,063) | |||
Other assets | (3,112) | |||
Total assets acquired | 4,705 | |||
Non-interest bearing transaction accounts | ||||
Interest bearing transaction accounts and savings deposits | ||||
Time deposits | ||||
Total deposits | ||||
FHLB borrowings | 223 | |||
Subordinated debentures | (510) | |||
Accrued and other liabilities | 300 | |||
Total liabilities assumed | 13 | |||
Equity | (112,277) | |||
Total liabilities and equity assumed | (112,264) | |||
Net assets acquired | ||||
Purchase price | ||||
Goodwill | ||||
Investment securities | (335) | |||
Liberty Bancshares, Inc. [Member] | ||||
Cash and due from banks, including time deposits | 102,623 | |||
Federal funds sold | 7,060 | |||
Investment securities | 98,788 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | 780,658 | |||
Allowance for loan losses | ||||
Premises and equipment | 31,024 | |||
Bank owned life insurance | 16,972 | |||
Core deposit intangible | 14,556 | |||
Other intangibles | ||||
Other assets | 14,591 | |||
Total assets acquired | 1,066,272 | |||
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 and other liabilities | 8,128 | |||
Total liabilities assumed | 949,303 | |||
Equity | ||||
Total liabilities and equity assumed | 949,303 | |||
Net assets acquired | 116,969 | |||
Purchase price | 212,176 | |||
Goodwill | 95,207 | |||
Investment securities | 98,788 | |||
Community First Bancshares Inc [Member] | Cost Acquired [Member] | ||||
Federal funds sold | 76,508 | |||
Investment securities | 570,199 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | 1,163,398 | |||
Allowance for loan losses | (14,635) | |||
Premises and equipment | 44,837 | |||
Bank owned life insurance | 22,149 | |||
Core deposit intangible | ||||
Other intangibles | ||||
Other assets | 11,474 | |||
Total assets acquired | 1,918,325 | |||
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 | |||
FHLB borrowings | 143,047 | |||
Subordinated debentures | 21,754 | |||
Accrued and other liabilities | 8,769 | |||
Total liabilities assumed | 1,725,013 | |||
Equity | 193,312 | |||
Total liabilities and equity assumed | 1,918,325 | |||
Net assets acquired | ||||
Purchase price | ||||
Goodwill | 100 | |||
Cash and due from banks | 39,848 | |||
Investment securities | 570,199 | |||
Foreclosed assets not covered by FDIC loss share | 747 | |||
Deferred tax asset | 3,700 | |||
Federal funds purchased and securities sold under agreement to repurchase | 16,230 | |||
Cash | 39,848 | |||
Community First Bancshares Inc [Member] | Fair Value Adjustments [Member] | ||||
Federal funds sold | ||||
Investment securities | (3,381) | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | (26,855) | |||
Allowance for loan losses | 14,635 | |||
Premises and equipment | (2,794) | |||
Bank owned life insurance | ||||
Core deposit intangible | 11,273 | |||
Other intangibles | 420 | |||
Other assets | ||||
Total assets acquired | (3,264) | |||
Non-interest bearing transaction accounts | ||||
Interest bearing transaction accounts and savings deposits | ||||
Time deposits | 849 | |||
Total deposits | 849 | |||
FHLB borrowings | 674 | |||
Subordinated debentures | (840) | |||
Accrued and other liabilities | 601 | |||
Total liabilities assumed | 1,284 | |||
Equity | (193,312) | |||
Total liabilities and equity assumed | (192,028) | |||
Net assets acquired | ||||
Purchase price | ||||
Goodwill | (100) | |||
Cash and due from banks | ||||
Investment securities | (3,381) | |||
Foreclosed assets not covered by FDIC loss share | ||||
Deferred tax asset | 3,538 | |||
Federal funds purchased and securities sold under agreement to repurchase | ||||
Cash | ||||
Community First Bancshares Inc [Member] | ||||
Federal funds sold | 76,508 | |||
Investment securities | 566,818 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Acquired Not Covered by FDIC Loss Share | 1,136,543 | |||
Allowance for loan losses | ||||
Premises and equipment | 42,043 | |||
Bank owned life insurance | 22,149 | |||
Core deposit intangible | 11,273 | |||
Other intangibles | 420 | |||
Other assets | 11,474 | |||
Total assets acquired | 1,915,061 | |||
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 | |||
FHLB borrowings | 143,721 | |||
Subordinated debentures | 20,914 | |||
Accrued and other liabilities | 9,370 | |||
Total liabilities assumed | 1,726,297 | |||
Equity | ||||
Total liabilities and equity assumed | 1,726,297 | |||
Net assets acquired | 188,764 | |||
Purchase price | 299,204 | |||
Goodwill | 110,440 | |||
Cash and due from banks | 39,848 | |||
Investment securities | 566,818 | |||
Foreclosed assets not covered by FDIC loss share | 747 | |||
Deferred tax asset | 7,238 | |||
Federal funds purchased and securities sold under agreement to repurchase | 16,230 | |||
Cash | $ 39,848 | |||
OTIC and TCO [Member] | Cost Acquired [Member] | ||||
Investment securities | $ 241 | |||
Premises and equipment | 1,126 | |||
Other intangibles | ||||
Other assets | 752 | |||
Total assets acquired | 3,875 | |||
Accrued and other liabilities | 302 | |||
Total liabilities assumed | 365 | |||
Equity | 3,510 | |||
Total liabilities and equity assumed | 3,875 | |||
Net assets acquired | ||||
Purchase price | ||||
Cash and due from banks | 1,756 | |||
Investment securities | 241 | |||
Cash | 1,756 | |||
Deferred tax liability | 63 | |||
OTIC and TCO [Member] | Fair Value Adjustments [Member] | ||||
Investment securities | ||||
Premises and equipment | 418 | |||
Other intangibles | 9,733 | |||
Other assets | ||||
Total assets acquired | 10,151 | |||
Accrued and other liabilities | ||||
Total liabilities assumed | 3,982 | |||
Equity | (3,510) | |||
Total liabilities and equity assumed | 472 | |||
Net assets acquired | ||||
Purchase price | ||||
Cash and due from banks | ||||
Investment securities | ||||
Cash | ||||
Deferred tax liability | 3,982 | |||
OTIC and TCO [Member] | ||||
Investment securities | 241 | |||
Premises and equipment | 1,544 | |||
Other intangibles | 9,733 | |||
Other assets | 752 | |||
Total assets acquired | 14,026 | |||
Accrued and other liabilities | 302 | |||
Total liabilities assumed | 4,347 | |||
Equity | ||||
Total liabilities and equity assumed | 4,347 | |||
Net assets acquired | 9,679 | |||
Purchase price | 23,623 | |||
Goodwill | 13,944 | |||
Cash and due from banks | 1,756 | |||
Investment securities | 241 | |||
Cash | 1,756 | |||
Deferred tax liability | $ 4,045 | |||
Goodwill | $ 327,686 | $ 327,686 |
Note 3 - Investment Securitie47
Note 3 - Investment Securities (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Available-for-sale Securities, Gross Realized Losses | $ 0 | $ 0 | $ 0 | $ 40,000 | |
Securities Continuous Unrealized Loss Position, Fair Value | $ 65,400,000 | ||||
Securities Continuous Unrealized Loss Position Fair Value Percent of Portfolio | 4.50% | ||||
Available-for-sale Securities, Gross Realized Gains | 3,800,000 | $ 0 | $ 4,100,000 | $ 2,000 | |
Securities Sold under Agreements to Repurchase | 102,500,000 | 102,500,000 | $ 96,800,000 | ||
Available-for-sale Securities Pledged as Collateral | $ 866,300,000 | $ 866,300,000 | $ 840,400,000 |
Note 3 - Summary of Investment
Note 3 - Summary of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
US Government Agencies Debt Securities [Member] | ||
Total | $ 199,505 | $ 237,139 |
Gross Unrealized Gains | 549 | 582 |
Gross Unrealized Losses | (8) | (1,395) |
Total | 200,046 | 236,326 |
Total | 58,099 | 121,017 |
Gross Unrealized Gains | 14 | 118 |
Gross Unrealized Losses | (898) | |
Total | 58,113 | 120,237 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Total | 22,612 | 24,774 |
Gross Unrealized Gains | 486 | 86 |
Gross Unrealized Losses | (11) | (290) |
Total | 23,087 | 24,570 |
Total | 643,820 | 650,619 |
Gross Unrealized Gains | 8,643 | 937 |
Gross Unrealized Losses | (38) | (4,130) |
Total | 652,425 | 647,426 |
US States and Political Subdivisions Debt Securities [Member] | ||
Total | 407,273 | 440,676 |
Gross Unrealized Gains | 14,128 | 9,138 |
Gross Unrealized Losses | (5) | (123) |
Total | 421,396 | 449,691 |
Total | 63,825 | 9,762 |
Gross Unrealized Gains | 1,070 | 112 |
Gross Unrealized Losses | (59) | |
Total | 64,836 | 9,874 |
Other Securities [Member] | ||
Total | 2,764 | 2,784 |
Gross Unrealized Gains | ||
Gross Unrealized Losses | ||
Total | 2,764 | 2,784 |
Total | 41,030 | 39,594 |
Gross Unrealized Gains | 685 | 420 |
Gross Unrealized Losses | (22) | (138) |
Total | 41,693 | 39,876 |
US Treasury Securities [Member] | ||
Total | 4,300 | 4,000 |
Gross Unrealized Gains | 5 | |
Gross Unrealized Losses | (6) | |
Total | 4,305 | 3,994 |
Total | 632,154 | 705,373 |
Gross Unrealized Gains | 15,163 | 9,806 |
Gross Unrealized Losses | (24) | (1,808) |
Total | 647,293 | 713,371 |
Total | 811,074 | 824,992 |
Gross Unrealized Gains | 10,417 | 1,587 |
Gross Unrealized Losses | (119) | (5,172) |
Total | $ 821,372 | $ 821,407 |
Note 3 - Securities with Unreal
Note 3 - Securities with Unrealized Losses (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2016USD ($) | |
US Government Agencies Debt Securities [Member] | |
Held-to-maturity, less than 12 months, estimated fair value | |
Held-to-maturity, less than 12 months, gross unrealized losses | |
Held-to-maturity, 12 months or more, estimated fair value | 19,992 |
Held-to-maturity, 12 months or more, gross unrealized losses | (8) |
Held-to-maturity, total, estimated fair value | 19,992 |
Held-to-maturity, total, gross unrealized losses | (8) |
Collateralized Mortgage Backed Securities [Member] | |
Held-to-maturity, less than 12 months, estimated fair value | 1,336 |
Held-to-maturity, less than 12 months, gross unrealized losses | (3) |
Held-to-maturity, 12 months or more, estimated fair value | 2,898 |
Held-to-maturity, 12 months or more, gross unrealized losses | (8) |
Held-to-maturity, total, estimated fair value | 4,234 |
Held-to-maturity, total, gross unrealized losses | (11) |
Available-for-sale, less than 12 months, estimated fair value | 26,441 |
Available-for-sale, less than 12 months, gross unrealized losses | (38) |
Available-for-sale, 12 months or more, estimated fair value | |
Available-for-sale, 12 months or more, gross unrealized losses | |
Available-for-sale, total, estimated fair value | 26,441 |
Available-for-sale, total, gross unrealized losses | (38) |
US States and Political Subdivisions Debt Securities [Member] | |
Held-to-maturity, less than 12 months, estimated fair value | 2,056 |
Held-to-maturity, less than 12 months, gross unrealized losses | (4) |
Held-to-maturity, 12 months or more, estimated fair value | 670 |
Held-to-maturity, 12 months or more, gross unrealized losses | (1) |
Held-to-maturity, total, estimated fair value | 2,726 |
Held-to-maturity, total, gross unrealized losses | (5) |
Available-for-sale, less than 12 months, estimated fair value | 11,928 |
Available-for-sale, less than 12 months, gross unrealized losses | (59) |
Available-for-sale, 12 months or more, estimated fair value | |
Available-for-sale, 12 months or more, gross unrealized losses | |
Available-for-sale, total, estimated fair value | 11,928 |
Available-for-sale, total, gross unrealized losses | (59) |
Other Securities [Member] | |
Available-for-sale, less than 12 months, estimated fair value | 60 |
Available-for-sale, less than 12 months, gross unrealized losses | (22) |
Available-for-sale, 12 months or more, estimated fair value | |
Available-for-sale, 12 months or more, gross unrealized losses | |
Available-for-sale, total, estimated fair value | 60 |
Available-for-sale, total, gross unrealized losses | (22) |
Held-to-maturity, less than 12 months, estimated fair value | 3,392 |
Held-to-maturity, less than 12 months, gross unrealized losses | (7) |
Held-to-maturity, 12 months or more, estimated fair value | 23,560 |
Held-to-maturity, 12 months or more, gross unrealized losses | (17) |
Held-to-maturity, total, estimated fair value | 26,952 |
Held-to-maturity, total, gross unrealized losses | (24) |
Available-for-sale, less than 12 months, estimated fair value | 38,429 |
Available-for-sale, less than 12 months, gross unrealized losses | (119) |
Available-for-sale, 12 months or more, estimated fair value | |
Available-for-sale, 12 months or more, gross unrealized losses | |
Available-for-sale, total, estimated fair value | 38,429 |
Available-for-sale, total, gross unrealized losses | $ (119) |
Note 3 - Income Earned on Secur
Note 3 - Income Earned on Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Held-to-maturity Securities [Member] | ||||
Taxable Investment Income | $ 1,446 | $ 1,307 | $ 2,323 | $ 2,696 |
Non-taxable Investment Income | 2,399 | 2,732 | 5,545 | 5,334 |
Available-for-sale Securities [Member] | ||||
Taxable Investment Income | 4,492 | 3,172 | 8,926 | 4,755 |
Non-taxable Investment Income | 162 | 839 | 211 | 1,144 |
Investment securities | $ 8,499 | $ 8,050 | $ 17,005 | $ 13,929 |
Note 3 - Maturities of Investme
Note 3 - Maturities of Investment Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
One year or less | $ 87,294 | |
One year or less | 87,350 | |
One year or less | 9,409 | |
One year or less | 9,417 | |
After one through five years | 219,404 | |
After one through five years | 221,094 | |
After one through five years | 56,352 | |
After one through five years | 56,393 | |
After five through ten years | 116,567 | |
After five through ten years | 120,081 | |
After five through ten years | 4,144 | |
After five through ten years | 4,314 | |
After ten years | 186,277 | |
After ten years | 195,681 | |
After ten years | 57,619 | |
After ten years | 58,429 | |
Securities not due on a single maturity date | 22,612 | |
Securities not due on a single maturity date | 23,087 | |
Securities not due on a single maturity date | 643,820 | |
Securities not due on a single maturity date | 652,425 | |
Other securities (no maturity) | 39,730 | |
Other securities (no maturity) | 40,394 | |
Total | 632,154 | $ 705,373 |
Total | 647,293 | 713,371 |
Total | 811,074 | 824,992 |
Total | $ 821,372 | $ 821,407 |
Note 4 - Loans and Allowance 52
Note 4 - Loans and Allowance for Loan Losses (Details Textual) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | ||
Risk Ratings 6,7, and 8 [Member] | |||||||||
Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | ||||||||
Loans and Leases Receivable Classified | $ 161,400,000 | $ 161,400,000 | $ 153,700,000 | ||||||
Acquired Loans [Member] | |||||||||
Loans and Leases Receivable, Allowance, Covered | 954,000 | $ 954,000 | 954,000 | $ 954,000 | 954,000 | $ 954,000 | $ 954,000 | $ 954,000 | |
Loans and Leases Receivable, Gross | 1,288,435,000 | 1,288,435,000 | 1,672,901,000 | ||||||
Provision for Loan and Lease Losses | 307,000 | $ 604,000 | 0 | 0 | 736,000 | ||||
Non Covered Impaired Loans Allowance Reclassified | 954,000 | 954,000 | 954,000 | ||||||
Allowance for Loan and Lease Losses, Write-offs | 307,000 | $ 604,000 | |||||||
Restructured During Current Period [Member] | |||||||||
Loans and Leases Receivable, Allowance, Covered | $ 31,000 | 31,000 | |||||||
Financing Receivable, Modifications, Number of Contracts | 18 | 5 | 7 | ||||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 1,400,000 | $ 380,000 | $ 728,000 | ||||||
Commercial Real Estate and Residential Real Estate [Member] | OREO Received in Full or Partial Satisfaction of Loans [Member] | |||||||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 166,500 | 4,800,000 | |||||||
Loans, Including Acquired Loans [Member] | |||||||||
Loans and Leases Receivable, Allowance | 34,477,000 | 31,521,000 | 34,477,000 | 31,521,000 | 32,305,000 | 29,982,000 | $ 33,635,000 | $ 30,137,000 | |
OREO Secured by Residential Real Estate Properties [Member] | |||||||||
Real Estate Acquired Through Foreclosure | 5,648,000 | 5,648,000 | |||||||
Liberty, Community First, Metropolitan and Delta Trust Acquisitions [Member] | |||||||||
Acquired Impaired Loans, Carrying Value | 20,700,000 | 20,700,000 | 23,500,000 | ||||||
Loans and Leases Receivable, Allowance, Covered | 324,000 | 324,000 | |||||||
Loans and Leases Receivable, Gross | 5,014,000,000 | 5,014,000,000 | 4,919,000,000 | ||||||
Provision for Loan and Lease Losses | 4,616,000 | 3,006,000 | 7,439,000 | 4,177,000 | |||||
Impaired Financing Receivable, Recorded Investment | 43,791,000 | 43,791,000 | 18,190,000 | ||||||
Impaired Financing Receivable, Related Allowance | 3,149,000 | 3,149,000 | 2,831,000 | ||||||
Impaired Financing Receivable, Interest Income, Accrual Method | 449,000 | 300,000 | 800,000 | 549,000 | |||||
Impaired Financing Receivable, Average Recorded Investment | $ 38,777,000 | $ 16,638,000 | $ 31,914,000 | $ 15,981,000 | |||||
Financing Receivable, Modifications, Number of Contracts | 18 | 46 | 7 | ||||||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 1,395,000 | $ 10,361,000 | $ 728,000 | ||||||
Mortgage Loans in Process of Foreclosure, Amount | 2,215,000 | 2,215,000 | |||||||
Real Estate Acquired Through Foreclosure | 30,529,000 | 30,529,000 | 44,820,000 | ||||||
Acquired Impaired Loans, Carrying Value | [1] | 1,288,435,000 | 1,288,435,000 | 1,672,901,000 | |||||
Loans and Leases Receivable Classified | 36,000,000 | 36,000,000 | 49,900,000 | ||||||
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 | 954,000 | 954,000 | $ 954,000 | |||||
Loans and Leases Receivable, Allowance | $ 33,523,000 | $ 33,523,000 | $ 31,351,000 | ||||||
[1] | Loans acquired are reported net of a $954,000 allowance at June 30, 2016 and December 31, 2015. |
Note 4 - Loan Portfolio by Cate
Note 4 - Loan Portfolio by Categories (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | $ 171,468,000 | $ 177,288,000 | |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Loans and Leases Receivable, Gross | 171,468,000 | 177,288,000 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 248,018,000 | 208,380,000 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Loans and Leases Receivable, Gross | 248,018,000 | 208,380,000 | |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 419,486,000 | 385,668,000 | |
Consumer Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross | 419,486,000 | 385,668,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 330,666,000 | 279,740,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Loans and Leases Receivable, Gross | 330,666,000 | 279,740,000 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 785,289,000 | 696,180,000 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Loans and Leases Receivable, Gross | 785,289,000 | 696,180,000 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 1,414,663,000 | 1,229,072,000 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | |||
Loans and Leases Receivable, Gross | 1,414,663,000 | 1,229,072,000 | |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 2,530,618,000 | 2,204,992,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross | 2,530,618,000 | 2,204,992,000 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 577,771,000 | 500,116,000 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Loans and Leases Receivable, Gross | 577,771,000 | 500,116,000 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 187,047,000 | 148,563,000 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Loans and Leases Receivable, Gross | 187,047,000 | 148,563,000 | |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 764,818,000 | 648,679,000 | |
Commercial Portfolio Segment [Member] | |||
Loans and Leases Receivable, Gross | 764,818,000 | 648,679,000 | |
Unallocated Financing Receivables [Member] | Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 10,500,000 | 7,115,000 | |
Unallocated Financing Receivables [Member] | |||
Loans and Leases Receivable, Gross | 10,500,000 | 7,115,000 | |
Loans, Excluding Acquired Loans [Member] | |||
Loans and Leases Receivable, Gross | 3,725,422,000 | 3,246,454,000 | |
Loans and Leases Receivable, Gross | 5,014,000,000 | 4,919,000,000 | |
Loans acquired, net of discount and allowance (1) | [1] | 1,288,435,000 | 1,672,901,000 |
Total loans | $ 5,013,857,000 | $ 4,919,355,000 | |
[1] | See Note 5, Loans Acquired, for segregation of loans acquired by loan class. |
Note 4 - Nonaccrual Loans, Excl
Note 4 - Nonaccrual Loans, Excluding Loans Acquired, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Loans in nonaccrual status | $ 266 | $ 212 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans in nonaccrual status | 1,205 | 442 |
Consumer Portfolio Segment [Member] | ||
Loans in nonaccrual status | 1,471 | 654 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans in nonaccrual status | 5,312 | 4,955 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Loans in nonaccrual status | 10,353 | 5,453 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans in nonaccrual status | 21,522 | 4,420 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans in nonaccrual status | 37,187 | 14,828 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans in nonaccrual status | 2,985 | 1,968 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans in nonaccrual status | 1,662 | 264 |
Commercial Portfolio Segment [Member] | ||
Loans in nonaccrual status | 4,647 | 2,232 |
Loans in nonaccrual status | $ 43,305 | $ 17,714 |
Note 4 - Age Analysis of Past D
Note 4 - Age Analysis of Past Due Loans, Excluding Loans Acquired, Segregated by Class of Loans (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | $ 631,000 | $ 639,000 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 434,000 | 479,000 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 1,065,000 | 1,118,000 |
Current | 170,403,000 | 176,170,000 |
Loans and Leases Receivable, Gross | 171,468,000 | 177,288,000 |
90 Days Past Due & Accruing | 168,000 | 267,000 |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | ||
Loans and Leases Receivable, Gross | 171,468,000 | 177,288,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 1,529,000 | 1,879,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 800,000 | 648,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 2,329,000 | 2,527,000 |
Current | 245,689,000 | 205,853,000 |
Loans and Leases Receivable, Gross | 248,018,000 | 208,380,000 |
90 Days Past Due & Accruing | 36,000 | 374,000 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans and Leases Receivable, Gross | 248,018,000 | 208,380,000 |
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 2,160,000 | 2,518,000 |
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 1,234,000 | 1,127,000 |
Consumer Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 3,394,000 | 3,645,000 |
Current | 416,092,000 | 382,023,000 |
Loans and Leases Receivable, Gross | 419,486,000 | 385,668,000 |
90 Days Past Due & Accruing | 204,000 | 641,000 |
Consumer Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 419,486,000 | 385,668,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 761,000 | 1,328,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 2,413,000 | 4,511,000 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 3,174,000 | 5,839,000 |
Current | 327,492,000 | 273,901,000 |
Loans and Leases Receivable, Gross | 330,666,000 | 279,740,000 |
90 Days Past Due & Accruing | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 330,666,000 | 279,740,000 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 5,034,000 | 4,856,000 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 5,430,000 | 3,342,000 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 10,464,000 | 8,198,000 |
Current | 774,825,000 | 687,982,000 |
Loans and Leases Receivable, Gross | 785,289,000 | 696,180,000 |
90 Days Past Due & Accruing | 23,000 | 364,000 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Loans and Leases Receivable, Gross | 785,289,000 | 696,180,000 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 3,267,000 | 869,000 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 3,441,000 | 3,302,000 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 6,708,000 | 4,171,000 |
Current | 1,407,955,000 | 1,224,901,000 |
Loans and Leases Receivable, Gross | 1,414,663,000 | 1,229,072,000 |
90 Days Past Due & Accruing | 25,000 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans and Leases Receivable, Gross | 1,414,663,000 | 1,229,072,000 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 9,062,000 | 7,053,000 |
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 11,284,000 | 11,155,000 |
Commercial Real Estate Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 20,346,000 | 18,208,000 |
Current | 2,510,272,000 | 2,186,784,000 |
Loans and Leases Receivable, Gross | 2,530,618,000 | 2,204,992,000 |
90 Days Past Due & Accruing | 23,000 | 389,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 2,530,618,000 | 2,204,992,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 2,712,000 | 3,427,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 1,120,000 | 637,000 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 3,832,000 | 4,064,000 |
Current | 573,939,000 | 496,052,000 |
Loans and Leases Receivable, Gross | 577,771,000 | 500,116,000 |
90 Days Past Due & Accruing | 90,000 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans and Leases Receivable, Gross | 577,771,000 | 500,116,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 1,189,000 | 285,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 840,000 | 243,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 2,029,000 | 528,000 |
Current | 185,018,000 | 148,035,000 |
Loans and Leases Receivable, Gross | 187,047,000 | 148,563,000 |
90 Days Past Due & Accruing | 56,000 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans and Leases Receivable, Gross | 187,047,000 | 148,563,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 3,901,000 | 3,712,000 |
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 1,960,000 | 880,000 |
Commercial Portfolio Segment [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 5,861,000 | 4,592,000 |
Current | 758,957,000 | 644,087,000 |
Loans and Leases Receivable, Gross | 764,818,000 | 648,679,000 |
90 Days Past Due & Accruing | 146,000 | |
Commercial Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 764,818,000 | 648,679,000 |
Unallocated Financing Receivables [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 108,000 | |
Unallocated Financing Receivables [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 93,000 | |
Unallocated Financing Receivables [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 201,000 | |
Current | 10,500,000 | 6,914,000 |
Loans and Leases Receivable, Gross | 10,500,000 | 7,115,000 |
90 Days Past Due & Accruing | 15,000 | |
Unallocated Financing Receivables [Member] | ||
Loans and Leases Receivable, Gross | 10,500,000 | 7,115,000 |
Financing Receivables, 30 to 89 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 15,123,000 | 13,391,000 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Loans, Excluding Acquired Loans [Member] | ||
Past Due | 14,478,000 | 13,255,000 |
Loans, Excluding Acquired Loans [Member] | ||
Past Due | 29,601,000 | 26,646,000 |
Current | 3,695,821,000 | 3,219,808,000 |
Loans and Leases Receivable, Gross | 3,725,422,000 | 3,246,454,000 |
90 Days Past Due & Accruing | 227,000 | 1,191,000 |
Loans and Leases Receivable, Gross | $ 5,014,000,000 | $ 4,919,000,000 |
Note 4 - Impaired Loans, Net of
Note 4 - Impaired Loans, Net of Government Guarantees and Excluding Loans Acquired, Segregated by Class of Loans (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||||
Unpaid Contractual Principal Balance | $ 433,000 | $ 433,000 | $ 479,000 | ||
Recorded Investment With No Allowance | 433,000 | 433,000 | 479,000 | ||
Recorded Investment With Allowance | |||||
Impaired Financing Receivable, Recorded Investment | 433,000 | 433,000 | 479,000 | ||
Impaired Financing Receivable, Related Allowance | 7,000 | ||||
Impaired Financing Receivable, Average Recorded Investment | 216,000 | $ 459,000 | 304,000 | $ 372,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 7,000 | 10,000 | 12,000 | ||
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
Unpaid Contractual Principal Balance | 1,257,000 | 1,257,000 | 459,000 | ||
Recorded Investment With No Allowance | 1,225,000 | 1,225,000 | 423,000 | ||
Recorded Investment With Allowance | 17,000 | 17,000 | 19,000 | ||
Impaired Financing Receivable, Recorded Investment | 1,242,000 | 1,242,000 | 442,000 | ||
Impaired Financing Receivable, Related Allowance | 6,000 | 6,000 | 85,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 841,000 | 538,000 | 708,000 | 565,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 12,000 | 11,000 | 18,000 | 19,000 | |
Consumer Portfolio Segment [Member] | |||||
Unpaid Contractual Principal Balance | 1,690,000 | 1,690,000 | 938,000 | ||
Recorded Investment With No Allowance | 1,658,000 | 1,658,000 | 902,000 | ||
Recorded Investment With Allowance | 17,000 | 17,000 | 19,000 | ||
Impaired Financing Receivable, Recorded Investment | 1,675,000 | 1,675,000 | 921,000 | ||
Impaired Financing Receivable, Related Allowance | 6,000 | 6,000 | 92,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 1,057,000 | 997,000 | 1,012,000 | 937,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 12,000 | 18,000 | 28,000 | 31,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Unpaid Contractual Principal Balance | 6,209,000 | 6,209,000 | 5,678,000 | ||
Recorded Investment With No Allowance | 2,414,000 | 2,414,000 | 1,636,000 | ||
Recorded Investment With Allowance | 2,898,000 | 2,898,000 | 3,318,000 | ||
Impaired Financing Receivable, Recorded Investment | 5,312,000 | 5,312,000 | 4,954,000 | ||
Impaired Financing Receivable, Related Allowance | 155,000 | 155,000 | 441,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 5,089,000 | 5,066,000 | 5,044,000 | 5,717,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 61,000 | 107,000 | 126,000 | 197,000 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||||
Unpaid Contractual Principal Balance | 10,879,000 | 10,879,000 | 5,938,000 | ||
Recorded Investment With No Allowance | 8,946,000 | 8,946,000 | 4,702,000 | ||
Recorded Investment With Allowance | 1,510,000 | 1,510,000 | 945,000 | ||
Impaired Financing Receivable, Recorded Investment | 10,456,000 | 10,456,000 | 5,647,000 | ||
Impaired Financing Receivable, Related Allowance | 115,000 | 115,000 | 1,034,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 9,032,000 | 5,251,000 | 7,904,000 | 4,942,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 110,000 | 93,000 | 197,000 | 170,000 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | |||||
Unpaid Contractual Principal Balance | 22,990,000 | 22,990,000 | 5,688,000 | ||
Recorded Investment With No Allowance | 7,484,000 | 7,484,000 | 4,328,000 | ||
Recorded Investment With Allowance | 14,393,000 | 14,393,000 | 88,000 | ||
Impaired Financing Receivable, Recorded Investment | 21,877,000 | 21,877,000 | 4,416,000 | ||
Impaired Financing Receivable, Related Allowance | 2,810,000 | 2,810,000 | 832,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 19,976,000 | 3,104,000 | 14,789,000 | 2,563,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 220,000 | 48,000 | 370,000 | 88,000 | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Unpaid Contractual Principal Balance | 40,078,000 | 40,078,000 | 17,304,000 | ||
Recorded Investment With No Allowance | 18,844,000 | 18,844,000 | 10,666,000 | ||
Recorded Investment With Allowance | 18,801,000 | 18,801,000 | 4,351,000 | ||
Impaired Financing Receivable, Recorded Investment | 37,645,000 | 37,645,000 | 15,017,000 | ||
Impaired Financing Receivable, Related Allowance | 3,080,000 | 3,080,000 | 2,307,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 34,097,000 | 13,421,000 | 27,737,000 | 13,222,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 391,000 | 248,000 | 693,000 | 455,000 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Unpaid Contractual Principal Balance | 4,116,000 | 4,116,000 | 2,656,000 | ||
Recorded Investment With No Allowance | 2,477,000 | 2,477,000 | 1,654,000 | ||
Recorded Investment With Allowance | 369,000 | 369,000 | 334,000 | ||
Impaired Financing Receivable, Recorded Investment | 2,846,000 | 2,846,000 | 1,988,000 | ||
Impaired Financing Receivable, Related Allowance | 63,000 | 63,000 | 387,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 2,539,000 | 2,054,000 | 2,355,000 | 1,558,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 31,000 | 29,000 | 59,000 | 54,000 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||||
Unpaid Contractual Principal Balance | 2,634,000 | 2,634,000 | 264,000 | ||
Recorded Investment With No Allowance | 1,625,000 | 1,625,000 | 264,000 | ||
Recorded Investment With Allowance | |||||
Impaired Financing Receivable, Recorded Investment | 1,625,000 | 1,625,000 | 264,000 | ||
Impaired Financing Receivable, Related Allowance | 45,000 | ||||
Impaired Financing Receivable, Average Recorded Investment | 1,084,000 | 166,000 | 810,000 | 264,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 15,000 | 5,000 | 20,000 | 9,000 | |
Commercial Portfolio Segment [Member] | |||||
Unpaid Contractual Principal Balance | 6,750,000 | 6,750,000 | 2,920,000 | ||
Recorded Investment With No Allowance | 4,102,000 | 4,102,000 | 1,918,000 | ||
Recorded Investment With Allowance | 369,000 | 369,000 | 334,000 | ||
Impaired Financing Receivable, Recorded Investment | 4,471,000 | 4,471,000 | 2,252,000 | ||
Impaired Financing Receivable, Related Allowance | 63,000 | 63,000 | 432,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 3,623,000 | 2,220,000 | 3,165,000 | 1,822,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 46,000 | 34,000 | 79,000 | 63,000 | |
Unpaid Contractual Principal Balance | 48,518,000 | 48,518,000 | 21,162,000 | ||
Recorded Investment With No Allowance | 24,604,000 | 24,604,000 | 13,486,000 | ||
Recorded Investment With Allowance | 19,187,000 | 19,187,000 | 4,704,000 | ||
Impaired Financing Receivable, Recorded Investment | 43,791,000 | 43,791,000 | 18,190,000 | ||
Impaired Financing Receivable, Related Allowance | 3,149,000 | 3,149,000 | $ 2,831,000 | ||
Impaired Financing Receivable, Average Recorded Investment | 38,777,000 | 16,638,000 | 31,914,000 | 15,981,000 | |
Impaired Financing Receivable, Interest Income, Accrual Method | $ 449,000 | $ 300,000 | $ 800,000 | $ 549,000 |
Note 4 - Troubled Debt Restruct
Note 4 - Troubled Debt Restructurings, Excluding Loans Acquired, Segregated by Class of Loans (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016USD ($) | Jun. 30, 2015 | Jun. 30, 2016USD ($) | Jun. 30, 2015 | Dec. 31, 2015USD ($) | |
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | |||||
Troubled debt, balance | |||||
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | |||||
Troubled debt, balance | |||||
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 25 | 4 | |||
Troubled debt, balance | 10,302 | $ 10,302 | $ 2,894 | ||
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | |||||
Troubled debt, balance | |||||
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 3 | 2 | |||
Troubled debt, balance | 184 | $ 184 | $ 137 | ||
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 28 | 6 | |||
Troubled debt, balance | 10,486 | $ 10,486 | $ 3,031 | ||
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 10 | ||||
Troubled debt, balance | 401 | $ 401 | |||
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 10 | ||||
Troubled debt, balance | 401 | $ 401 | |||
Loans, Excluding Acquired Loans [Member] | Performing Financial Instruments [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 38 | 6 | |||
Troubled debt, balance | 10,887 | $ 10,887 | $ 3,031 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | |||
Troubled debt, balance | 15 | $ 15 | $ 13 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | |||
Troubled debt, balance | 15 | $ 15 | $ 13 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | |||
Troubled debt, balance | 1,769 | $ 1,769 | $ 597 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |||
Troubled debt, balance | 139 | $ 139 | $ 253 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 18 | 11 | |||
Troubled debt, balance | 1,870 | $ 1,870 | $ 1,335 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 21 | 13 | |||
Troubled debt, balance | 3,778 | $ 3,778 | $ 2,185 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 5 | 5 | |||
Troubled debt, balance | 312 | $ 312 | $ 332 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 5 | 5 | |||
Troubled debt, balance | 312 | $ 312 | $ 332 | ||
Loans, Excluding Acquired Loans [Member] | Nonperforming Financial Instruments [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 28 | 19 | |||
Troubled debt, balance | 4,105 | $ 4,105 | $ 2,530 | ||
Loans, Excluding Acquired Loans [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | |||
Troubled debt, balance | 15 | $ 15 | $ 13 | ||
Loans, Excluding Acquired Loans [Member] | Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 2 | 1 | |||
Troubled debt, balance | 15 | $ 15 | $ 13 | ||
Loans, Excluding Acquired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 27 | 5 | |||
Troubled debt, balance | 12,071 | $ 12,071 | $ 3,491 | ||
Loans, Excluding Acquired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |||
Troubled debt, balance | 139 | $ 139 | $ 253 | ||
Loans, Excluding Acquired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 21 | 13 | |||
Troubled debt, balance | 2,054 | $ 2,054 | $ 1,472 | ||
Loans, Excluding Acquired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 49 | 19 | |||
Troubled debt, balance | 14,264 | $ 14,264 | $ 5,216 | ||
Loans, Excluding Acquired Loans [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 15 | 5 | |||
Troubled debt, balance | 713 | $ 713 | $ 332 | ||
Loans, Excluding Acquired Loans [Member] | Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 15 | 5 | |||
Troubled debt, balance | 713 | $ 713 | $ 332 | ||
Loans, Excluding Acquired Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 66 | 25 | |||
Troubled debt, balance | $ 14,992 | $ 14,992 | $ 5,561 | ||
Consumer Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | |||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 7 | 4 | 9 | 6 | |
Commercial Real Estate Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 8 | 5 | 34 | 7 | |
Commercial Portfolio Segment [Member] | |||||
Financing Receivable, Modifications, Number of Contracts | 9 | 11 | |||
Financing Receivable, Modifications, Number of Contracts | 18 | 46 | 7 |
Note 4 - Loans Restructured as
Note 4 - Loans Restructured as TDRs, Excluding Loans Acquired, Segregated by Class of Loans (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | |
Consumer Portfolio Segment [Member] | Other Consumer [Member] | Extended Maturity [Member] | ||||
Modification | $ 3 | $ 3 | ||
Consumer Portfolio Segment [Member] | Other Consumer [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 3 | $ 3 | ||
Balance | 3 | 3 | ||
Consumer Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Modification | $ 3 | $ 3 | ||
Consumer Portfolio Segment [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 3 | $ 3 | ||
Balance | 3 | 3 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Extended Maturity [Member] | ||||
Modification | 61 | $ 361 | 239 | $ 701 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | Contractual Interest Rate Reduction [Member] | ||||
Modification | $ 554 | $ 554 | ||
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 7 | 4 | 9 | 6 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 618 | $ 361 | $ 796 | $ 709 |
Balance | 615 | 361 | 793 | 701 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | Extended Maturity [Member] | ||||
Modification | $ 19 | 8,567 | $ 19 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | Contractual Interest Rate Reduction [Member] | ||||
Modification | $ 364 | $ 364 | ||
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 1 | 1 | 25 | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 348 | $ 19 | $ 8,962 | $ 19 |
Balance | 364 | 19 | 8,931 | 19 |
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Modification | 61 | $ 380 | 8,806 | $ 720 |
Commercial Real Estate Portfolio Segment [Member] | Contractual Interest Rate Reduction [Member] | ||||
Modification | $ 918 | $ 918 | ||
Commercial Real Estate Portfolio Segment [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 8 | 5 | 34 | 7 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 966 | $ 380 | $ 9,758 | $ 728 |
Balance | 979 | $ 380 | 9,724 | 720 |
Commercial Portfolio Segment [Member] | Extended Maturity [Member] | ||||
Modification | $ 399 | $ 572 | ||
Commercial Portfolio Segment [Member] | ||||
Financing Receivable, Modifications, Number of Contracts | 9 | 11 | ||
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 426 | $ 600 | ||
Balance | 399 | 572 | ||
Extended Maturity [Member] | ||||
Modification | 463 | 9,381 | $ 720 | |
Contractual Interest Rate Reduction [Member] | ||||
Modification | $ 918 | $ 918 | ||
Financing Receivable, Modifications, Number of Contracts | 18 | 46 | 7 | |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $ 1,395 | $ 10,361 | $ 728 | |
Balance | $ 1,381 | $ 10,299 | $ 720 |
Note 4 - Loans by Credit Risk R
Note 4 - Loans by Credit Risk Rating, Segregated by Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |
Risk Rate 1-4 [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Balance, end of period | $ 171,035 | $ 176,809 | |
Risk Rate 1-4 [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Balance, end of period | 246,491 | 207,069 | |
Risk Rate 1-4 [Member] | Consumer Portfolio Segment [Member] | |||
Balance, end of period | 417,526 | 383,878 | |
Risk Rate 1-4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Balance, end of period | 319,592 | 270,386 | |
Risk Rate 1-4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Balance, end of period | 761,813 | 679,484 | |
Risk Rate 1-4 [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | |||
Balance, end of period | 1,351,541 | 1,178,817 | |
Risk Rate 1-4 [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Balance, end of period | 2,432,946 | 2,128,687 | |
Risk Rate 1-4 [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Balance, end of period | 558,439 | 487,563 | |
Risk Rate 1-4 [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Balance, end of period | 185,028 | 147,788 | |
Risk Rate 1-4 [Member] | Commercial Portfolio Segment [Member] | |||
Balance, end of period | 743,467 | 635,351 | |
Risk Rate 1-4 [Member] | Unallocated Financing Receivables [Member] | |||
Balance, end of period | 10,500 | 7,022 | |
Risk Rate 1-4 [Member] | |||
Balance, end of period | 4,816,700 | 4,745,322 | |
Loans acquired | 1,212,261 | 1,590,384 | |
Risk Rate 5 [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Balance, end of period | |||
Risk Rate 5 [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Balance, end of period | 44 | ||
Risk Rate 5 [Member] | Consumer Portfolio Segment [Member] | |||
Balance, end of period | 44 | ||
Risk Rate 5 [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Balance, end of period | 103 | 319 | |
Risk Rate 5 [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Balance, end of period | 3,605 | 2,701 | |
Risk Rate 5 [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | |||
Balance, end of period | 7,127 | 5,404 | |
Risk Rate 5 [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Balance, end of period | 10,835 | 8,424 | |
Risk Rate 5 [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Balance, end of period | 5,140 | 2,760 | |
Risk Rate 5 [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Balance, end of period | 228 | ||
Risk Rate 5 [Member] | Commercial Portfolio Segment [Member] | |||
Balance, end of period | 5,368 | 2,760 | |
Risk Rate 5 [Member] | Unallocated Financing Receivables [Member] | |||
Balance, end of period | |||
Risk Rate 5 [Member] | |||
Balance, end of period | 35,767 | 20,334 | |
Loans acquired | 19,520 | 9,150 | |
Risk Rate 6 [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Balance, end of period | 433 | 479 | |
Risk Rate 6 [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Balance, end of period | 1,463 | 1,262 | |
Risk Rate 6 [Member] | Consumer Portfolio Segment [Member] | |||
Balance, end of period | 1,896 | 1,741 | |
Risk Rate 6 [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Balance, end of period | 10,955 | 9,019 | |
Risk Rate 6 [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Balance, end of period | 19,707 | 13,824 | |
Risk Rate 6 [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | |||
Balance, end of period | 55,995 | 44,261 | |
Risk Rate 6 [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Balance, end of period | 86,657 | 67,104 | |
Risk Rate 6 [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Balance, end of period | 14,162 | 9,787 | |
Risk Rate 6 [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Balance, end of period | 1,791 | 775 | |
Risk Rate 6 [Member] | Commercial Portfolio Segment [Member] | |||
Balance, end of period | 15,953 | 10,562 | |
Risk Rate 6 [Member] | Unallocated Financing Receivables [Member] | |||
Balance, end of period | 93 | ||
Risk Rate 6 [Member] | |||
Balance, end of period | 159,246 | 148,719 | |
Loans acquired | 54,740 | 69,219 | |
Risk Rate 7 [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Balance, end of period | |||
Risk Rate 7 [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Balance, end of period | 20 | 49 | |
Risk Rate 7 [Member] | Consumer Portfolio Segment [Member] | |||
Balance, end of period | 20 | 49 | |
Risk Rate 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Balance, end of period | 16 | 16 | |
Risk Rate 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Balance, end of period | 164 | 171 | |
Risk Rate 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | |||
Balance, end of period | 590 | ||
Risk Rate 7 [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Balance, end of period | 180 | 777 | |
Risk Rate 7 [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Balance, end of period | 30 | 6 | |
Risk Rate 7 [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Balance, end of period | |||
Risk Rate 7 [Member] | Commercial Portfolio Segment [Member] | |||
Balance, end of period | 30 | 6 | |
Risk Rate 7 [Member] | Unallocated Financing Receivables [Member] | |||
Balance, end of period | |||
Risk Rate 7 [Member] | |||
Balance, end of period | 2,144 | 4,521 | |
Loans acquired | 1,914 | 3,689 | |
Risk Rate 8 [Member] | Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Consumer Portfolio Segment [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Commercial Portfolio Segment [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | Unallocated Financing Receivables [Member] | |||
Balance, end of period | |||
Risk Rate 8 [Member] | |||
Balance, end of period | 459 | ||
Loans acquired | 459 | ||
Consumer Portfolio Segment [Member] | Credit Card Receivable [Member] | |||
Balance, end of period | 171,468 | 177,288 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | |||
Balance, end of period | 248,018 | 208,380 | |
Consumer Portfolio Segment [Member] | |||
Balance, end of period | 419,486 | 385,668 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Balance, end of period | 330,666 | 279,740 | |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | |||
Balance, end of period | 785,289 | 696,180 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | |||
Balance, end of period | 1,414,663 | 1,229,072 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Balance, end of period | 2,530,618 | 2,204,992 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | |||
Balance, end of period | 577,771 | 500,116 | |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | |||
Balance, end of period | 187,047 | 148,563 | |
Commercial Portfolio Segment [Member] | |||
Balance, end of period | 764,818 | 648,679 | |
Unallocated Financing Receivables [Member] | |||
Balance, end of period | 10,500 | 7,115 | |
Balance, end of period | 5,013,857 | 4,919,355 | |
Loans acquired | [1] | $ 1,288,435 | $ 1,672,901 |
[1] | See Note 5, Loans Acquired, for segregation of loans acquired by loan class. |
Note 4 - Activity in the Allowa
Note 4 - Activity in the Allowance for Loan Losses, by Portfolio Segment, for the Current Year (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |||||||||
Loans, Excluding Acquired Loans [Member] | Commercial Portfolio Segment [Member] | ||||||||||||||||
Balance, beginning of period (2) | $ 7,083,000 | [1] | $ 6,870,000 | [2] | $ 5,985,000 | [3] | $ 6,962,000 | [2] | $ 6,962,000 | [2] | ||||||
Provision for loan losses | 2,714,000 | [4] | (1,569,000) | [5] | 4,281,000 | [4] | (1,585,000) | [5] | ||||||||
Charge-offs | (2,283,000) | (2,759,000) | (245,000) | |||||||||||||
Recoveries | 318,000 | 9,000 | 325,000 | 178,000 | ||||||||||||
Net recoveries (charge-offs) | (1,965,000) | 9,000 | (2,434,000) | (67,000) | ||||||||||||
Balance, June 30, 2016 (2) | 7,832,000 | [1] | 5,310,000 | [2] | 7,832,000 | [1] | 5,310,000 | [2] | 5,985,000 | [3] | ||||||
Loans individually evaluated for impairment | $ 63,000 | $ 432,000 | $ 396,000 | |||||||||||||
Loans collectively evaluated for impairment | 7,769,000 | 5,553,000 | 4,914,000 | |||||||||||||
Loans and Leases Receivable, Allowance | 7,083,000 | [1] | 6,870,000 | [2] | 7,832,000 | [1] | 5,310,000 | [2] | 5,985,000 | [3] | 7,832,000 | [1] | 5,985,000 | [3] | 5,310,000 | [2] |
Provision for Loan and Lease Losses | 2,714,000 | [4] | (1,569,000) | [5] | 4,281,000 | [4] | (1,585,000) | [5] | ||||||||
Charge-offs | (2,283,000) | (2,759,000) | (245,000) | |||||||||||||
Recoveries | 318,000 | 9,000 | 325,000 | 178,000 | ||||||||||||
Net charge-offs | (1,965,000) | 9,000 | (2,434,000) | (67,000) | ||||||||||||
Loans, Excluding Acquired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||||||||||||||||
Balance, beginning of period (2) | 19,925,000 | [1] | 15,553,000 | [2] | 19,522,000 | [3] | 15,161,000 | [2] | 15,161,000 | [2] | ||||||
Provision for loan losses | 423,000 | [4] | 3,311,000 | [5] | 943,000 | [4] | 3,984,000 | [5] | ||||||||
Charge-offs | (824,000) | (333,000) | (1,053,000) | (626,000) | ||||||||||||
Recoveries | 111,000 | 46,000 | 223,000 | 58,000 | ||||||||||||
Net recoveries (charge-offs) | (713,000) | (287,000) | (830,000) | (568,000) | ||||||||||||
Balance, June 30, 2016 (2) | 19,635,000 | [1] | 18,577,000 | [2] | 19,635,000 | [1] | 18,577,000 | [2] | 19,522,000 | [3] | ||||||
Loans individually evaluated for impairment | 3,080,000 | 2,307,000 | 1,513,000 | |||||||||||||
Loans collectively evaluated for impairment | 16,555,000 | 17,215,000 | 17,064,000 | |||||||||||||
Loans and Leases Receivable, Allowance | 19,925,000 | [1] | 15,553,000 | [2] | 19,635,000 | [1] | 18,577,000 | [2] | 19,522,000 | [3] | 19,635,000 | [1] | 19,522,000 | [3] | 18,577,000 | [2] |
Provision for Loan and Lease Losses | 423,000 | [4] | 3,311,000 | [5] | 943,000 | [4] | 3,984,000 | [5] | ||||||||
Charge-offs | (824,000) | (333,000) | (1,053,000) | (626,000) | ||||||||||||
Recoveries | 111,000 | 46,000 | 223,000 | 58,000 | ||||||||||||
Net charge-offs | (713,000) | (287,000) | (830,000) | (568,000) | ||||||||||||
Loans, Excluding Acquired Loans [Member] | Consumer Portfolio Segment [Member] | ||||||||||||||||
Balance, beginning of period (2) | 3,757,000 | [1] | 5,527,000 | [2] | 3,893,000 | [3] | 5,445,000 | [2] | 5,445,000 | [2] | ||||||
Provision for loan losses | 440,000 | [4] | 352,000 | [5] | 921,000 | [4] | 1,006,000 | [5] | ||||||||
Charge-offs | (702,000) | (802,000) | (1,561,000) | (1,587,000) | ||||||||||||
Recoveries | 253,000 | 241,000 | 495,000 | 454,000 | ||||||||||||
Net recoveries (charge-offs) | (449,000) | (561,000) | (1,066,000) | (1,133,000) | ||||||||||||
Balance, June 30, 2016 (2) | 3,748,000 | [1] | 5,318,000 | [2] | 3,748,000 | [1] | 5,318,000 | [2] | 3,893,000 | [3] | ||||||
Loans individually evaluated for impairment | 7,000 | 14,000 | ||||||||||||||
Loans collectively evaluated for impairment | 3,748,000 | 3,886,000 | 5,304,000 | |||||||||||||
Loans and Leases Receivable, Allowance | 3,757,000 | [1] | 5,527,000 | [2] | 3,748,000 | [1] | 5,318,000 | [2] | 3,893,000 | [3] | 3,748,000 | [1] | 3,893,000 | [3] | 5,318,000 | [2] |
Provision for Loan and Lease Losses | 440,000 | [4] | 352,000 | [5] | 921,000 | [4] | 1,006,000 | [5] | ||||||||
Charge-offs | (702,000) | (802,000) | (1,561,000) | (1,587,000) | ||||||||||||
Recoveries | 253,000 | 241,000 | 495,000 | 454,000 | ||||||||||||
Net charge-offs | (449,000) | (561,000) | (1,066,000) | (1,133,000) | ||||||||||||
Loans, Excluding Acquired Loans [Member] | Unallocated Financing Receivables [Member] | ||||||||||||||||
Balance, beginning of period (2) | 1,916,000 | [1] | 1,233,000 | [2] | 1,951,000 | [3] | 1,460,000 | [2] | 1,460,000 | [2] | ||||||
Provision for loan losses | 732,000 | [4] | 308,000 | [5] | 987,000 | [4] | 168,000 | [5] | ||||||||
Charge-offs | (489,000) | (366,000) | (882,000) | (586,000) | ||||||||||||
Recoveries | 149,000 | 187,000 | 252,000 | 320,000 | ||||||||||||
Net recoveries (charge-offs) | (340,000) | (179,000) | (630,000) | (266,000) | ||||||||||||
Balance, June 30, 2016 (2) | 2,308,000 | [1] | 1,362,000 | [2] | 2,308,000 | [1] | 1,362,000 | [2] | 1,951,000 | [3] | ||||||
Loans individually evaluated for impairment | 6,000 | 85,000 | 89,000 | |||||||||||||
Loans collectively evaluated for impairment | 2,302,000 | 1,866,000 | 1,273,000 | |||||||||||||
Loans and Leases Receivable, Allowance | 1,916,000 | [1] | 1,233,000 | [2] | 2,308,000 | [1] | 1,362,000 | [2] | 1,951,000 | [3] | 2,308,000 | [1] | 1,951,000 | [3] | 1,362,000 | [2] |
Provision for Loan and Lease Losses | 732,000 | [4] | 308,000 | [5] | 987,000 | [4] | 168,000 | [5] | ||||||||
Charge-offs | (489,000) | (366,000) | (882,000) | (586,000) | ||||||||||||
Recoveries | 149,000 | 187,000 | 252,000 | 320,000 | ||||||||||||
Net charge-offs | (340,000) | (179,000) | (630,000) | (266,000) | ||||||||||||
Loans, Excluding Acquired Loans [Member] | ||||||||||||||||
Balance, beginning of period (2) | 32,681,000 | [1] | 29,183,000 | [2] | 31,351,000 | [3] | 29,028,000 | [2] | 29,028,000 | [2] | ||||||
Provision for loan losses | 4,309,000 | [4] | 2,402,000 | [5] | 7,132,000 | [4] | 3,573,000 | [5] | ||||||||
Charge-offs | (4,298,000) | (1,501,000) | (6,255,000) | (3,044,000) | ||||||||||||
Recoveries | 831,000 | 483,000 | 1,295,000 | 1,010,000 | ||||||||||||
Net recoveries (charge-offs) | (3,467,000) | (1,018,000) | (4,960,000) | (2,034,000) | ||||||||||||
Balance, June 30, 2016 (2) | 33,523,000 | [1] | 30,567,000 | [2] | 33,523,000 | [1] | 30,567,000 | [2] | 31,351,000 | [3] | ||||||
Loans individually evaluated for impairment | 3,149,000 | 2,831,000 | 2,012,000 | |||||||||||||
Loans collectively evaluated for impairment | 30,374,000 | 28,520,000 | 28,555,000 | |||||||||||||
Loans and Leases Receivable, Allowance | 32,681,000 | [1] | 29,183,000 | [2] | 33,523,000 | [1] | 30,567,000 | [2] | 31,351,000 | [3] | 33,523,000 | [1] | 31,351,000 | [3] | $ 30,567,000 | [2] |
Provision for Loan and Lease Losses | 4,309,000 | [4] | 2,402,000 | [5] | 7,132,000 | [4] | 3,573,000 | [5] | ||||||||
Charge-offs | (4,298,000) | (1,501,000) | (6,255,000) | (3,044,000) | ||||||||||||
Recoveries | 831,000 | 483,000 | 1,295,000 | 1,010,000 | ||||||||||||
Net charge-offs | (3,467,000) | (1,018,000) | (4,960,000) | (2,034,000) | ||||||||||||
Balance, beginning of period (2) | 31,351,000 | |||||||||||||||
Provision for loan losses | 4,616,000 | 3,006,000 | 7,439,000 | 4,177,000 | ||||||||||||
Balance, June 30, 2016 (2) | 33,523,000 | 33,523,000 | 31,351,000 | |||||||||||||
Loans and Leases Receivable, Allowance | 33,523,000 | 33,523,000 | $ 31,351,000 | $ 33,523,000 | $ 31,351,000 | |||||||||||
Provision for Loan and Lease Losses | $ 4,616,000 | $ 3,006,000 | $ 7,439,000 | $ 4,177,000 | ||||||||||||
[1] | Allowance for loan losses at June 30, 2016, March 31, 2016 and December 31, 2015 includes $954,000 allowance for loans acquired. The total allowance for loan losses at June 30, 2016, March 31, 2016 and December 31, 2015 was $34,477,000, $33,635,000 and $32,305,000, respectively. | |||||||||||||||
[2] | Allowance for loan losses at June 30, 2015, March 31, 2015 and December 31, 2014 includes $954,000 allowance for loans acquired, covered by loss share. The total allowance for loan losses at June 30, 2015, March 31, 2015 and December 31, 2014 was $31,521,000, $30,137,000 and $29,982,000, respectively. | |||||||||||||||
[3] | Allowance for loan losses at December 31, 2015 includes $954,000 allowance for loans acquired (not shown in the table above). The total allowance for loan losses December 31, 2015 was $32,305,000. | |||||||||||||||
[4] | Provision for loan losses of $307,000 attributable to loans acquired was excluded from this table for the three and six months ended June 30, 2016 (total provision for loan losses for the three and six months ended June 30, 2016 was $4,616,000 and $7,439,000). The $307,000 was subsequently charged-off, resulting in no ending balance in the allowance related to loans acquired. | |||||||||||||||
[5] | Provision for loan losses of $604,000 attributable to loans acquired, not covered by loss share, was excluded from this table for the three and six months ended June 30, 2015 (total provision for loan losses for the three and six months ended June 30, 2015 was $3,006,000 and $4,177,000). The $604,000 was subsequently charged-off, resulting in no ending balance in the allowance related to loans acquired |
Note 4 - Recorded Investment in
Note 4 - Recorded Investment in Loans, Excluding Loans Acquired (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Loans, Excluding Acquired Loans [Member] | Commercial Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | $ 4,471 | $ 2,252 |
Loans collectively evaluated for impairment | 760,347 | 646,427 |
Balance, end of period | 764,818 | 648,679 |
Loans, Excluding Acquired Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | 37,645 | 15,017 |
Loans collectively evaluated for impairment | 2,492,973 | 2,189,975 |
Balance, end of period | 2,530,618 | 2,204,992 |
Loans, Excluding Acquired Loans [Member] | Consumer Portfolio Segment [Member] | ||
Loans individually evaluated for impairment | 433 | 479 |
Loans collectively evaluated for impairment | 171,035 | 176,809 |
Balance, end of period | 171,468 | 177,288 |
Loans, Excluding Acquired Loans [Member] | Unallocated Financing Receivables [Member] | ||
Loans individually evaluated for impairment | 1,242 | 442 |
Loans collectively evaluated for impairment | 257,276 | 215,053 |
Balance, end of period | 258,518 | 215,495 |
Loans, Excluding Acquired Loans [Member] | ||
Loans individually evaluated for impairment | 43,791 | 18,190 |
Loans collectively evaluated for impairment | 3,681,631 | 3,228,264 |
Balance, end of period | 3,725,422 | 3,246,454 |
Commercial Portfolio Segment [Member] | ||
Balance, end of period | 764,818 | 648,679 |
Commercial Real Estate Portfolio Segment [Member] | ||
Balance, end of period | 2,530,618 | 2,204,992 |
Consumer Portfolio Segment [Member] | ||
Balance, end of period | 419,486 | 385,668 |
Unallocated Financing Receivables [Member] | ||
Balance, end of period | 10,500 | 7,115 |
Balance, end of period | $ 5,013,857 | $ 4,919,355 |
Note 5 - Loans Acquired (Detail
Note 5 - Loans Acquired (Details Textual) - USD ($) | Sep. 15, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Liberty Bancshares, Inc. [Member] | Purchased Credit Impaired Loans [Member] | ||||||||
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 | |||||||
Liberty Bancshares, Inc. [Member] | ||||||||
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 | |||||||
Community First Bancshares Inc [Member] | Purchased Credit Impaired Loans [Member] | ||||||||
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 | |||||||
Community First Bancshares Inc [Member] | ||||||||
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 | |||||||
Acquired Loans [Member] | ||||||||
Non Covered Impaired Loans Allowance Reclassified | $ 954,000 | $ 954,000 | $ 954,000 | |||||
Provision for Loan and Lease Losses | 307,000 | $ 604,000 | 0 | $ 0 | 736,000 | |||
FDIC Indemnification Asset, Accretion of Discount | 0 | 40,000 | 0 | 80,000 | ||||
FDIC True Up Provision, Change in Expected Losses | 279,000 | 533,000 | ||||||
FDIC Indemnification Asset, Cash Payments Received | $ 2,368,000 | 2,368,000 | ||||||
Gain (Loss) on Contract Termination | $ (7,476,000) | (7,476,000) | ||||||
Non Covered Impaired Loans Allowance Reclassified | 954,000 | 954,000 | $ 954,000 | $ 954,000 | ||||
Covered Purchased Impaired Loans Allowance | $ 954,000 | |||||||
Provision for Loan and Lease Losses | $ 4,616,000 | $ 3,006,000 | $ 7,439,000 | $ 4,177,000 |
Note 5 - Carrying Value of all
Note 5 - Carrying Value of all Acquired Impaired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |
Other Loans [Member] | Consumer Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | $ 53,072 | $ 75,606 | |
Other Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | 685,124 | 854,068 | |
Construction Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | 38,509 | 77,119 | |
Single Family Residential Loans [Member] | Commercial Real Estate Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | 406,161 | 501,002 | |
Commercial Loans [Member] | Commercial Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | 101,984 | 154,533 | |
Agricultural Loans [Member] | Commercial Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | 3,585 | 10,573 | |
Consumer Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | 53,072 | 75,606 | |
Commercial Real Estate Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | 1,129,794 | 1,432,189 | |
Commercial Portfolio Segment [Member] | |||
Acquired Impaired Loans, Carrying Value | 105,569 | 165,106 | |
Acquired Impaired Loans, Carrying Value | [1] | $ 1,288,435 | $ 1,672,901 |
[1] | Loans acquired are reported net of a $954,000 allowance at June 30, 2016 and December 31, 2015. |
Note 5 - Nonaccrual Acquired Lo
Note 5 - Nonaccrual Acquired Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Loans in nonaccrual status | $ 86 | $ 71 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Loans in nonaccrual status | 86 | 71 |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans in nonaccrual status | 1,205 | 442 |
Consumer Portfolio Segment [Member] | ||
Loans in nonaccrual status | 1,471 | 654 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | ||
Loans in nonaccrual status | 992 | 783 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | ||
Loans in nonaccrual status | 8,340 | 7,795 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Commercial Loans [Member] | ||
Loans in nonaccrual status | 3,319 | 6,435 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||
Loans in nonaccrual status | 12,651 | 15,013 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans in nonaccrual status | 5,312 | 4,955 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Loans in nonaccrual status | 10,353 | 5,453 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Loans [Member] | ||
Loans in nonaccrual status | 21,522 | 4,420 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans in nonaccrual status | 37,187 | 14,828 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | ||
Loans in nonaccrual status | 1,453 | 3,859 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | ||
Loans in nonaccrual status | 52 | 8 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | ||
Loans in nonaccrual status | 1,505 | 3,867 |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans in nonaccrual status | 2,985 | 1,968 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans in nonaccrual status | 1,662 | 264 |
Commercial Portfolio Segment [Member] | ||
Loans in nonaccrual status | 4,647 | 2,232 |
Acquired Loans [Member] | ||
Loans in nonaccrual status | 14,242 | 18,951 |
Loans in nonaccrual status | $ 43,305 | $ 17,714 |
Note 5 - Age Analysis of Past D
Note 5 - Age Analysis of Past Due Acquired Loans, Excluding Loans Covered by Loss Share (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | $ 635,000 | $ 826,000 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 24,000 | 122,000 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Past Due | 659,000 | 948,000 |
Current | 52,413,000 | 74,658,000 |
Loans and Leases Receivable, Gross | 53,072,000 | 75,606,000 |
90 Days Past Due & Accruing | 57,000 | |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 635,000 | 826,000 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 24,000 | 122,000 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Past Due | 659,000 | 948,000 |
Current | 52,413,000 | 74,658,000 |
Loans and Leases Receivable, Gross | 53,072,000 | 75,606,000 |
90 Days Past Due & Accruing | 57,000 | |
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Loans and Leases Receivable, Gross | 248,018,000 | 208,380,000 |
Consumer Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 419,486,000 | 385,668,000 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 10,616,000 | 12,910,000 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 12,081,000 | 7,810,000 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Past Due | 22,697,000 | 20,720,000 |
Current | 662,427,000 | 833,348,000 |
Loans and Leases Receivable, Gross | 685,124,000 | 854,068,000 |
90 Days Past Due & Accruing | 203,000 | |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 69,000 | 736,000 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 6,833,000 | 9,449,000 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | ||
Past Due | 6,902,000 | 10,185,000 |
Current | 31,607,000 | 66,934,000 |
Loans and Leases Receivable, Gross | 38,509,000 | 77,119,000 |
90 Days Past Due & Accruing | 410,000 | |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 4,980,000 | 9,493,000 |
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] | ||
Past Due | 4,205,000 | 4,850,000 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | ||
Past Due | 9,185,000 | 14,343,000 |
Current | 396,976,000 | 486,659,000 |
Loans and Leases Receivable, Gross | 406,161,000 | 501,002,000 |
90 Days Past Due & Accruing | 1,246,000 | |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 15,665,000 | 23,139,000 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 23,119,000 | 22,109,000 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||
Past Due | 38,784,000 | 45,248,000 |
Current | 1,091,010,000 | 1,386,941,000 |
Loans and Leases Receivable, Gross | 1,129,794,000 | 1,432,189,000 |
90 Days Past Due & Accruing | 1,859,000 | |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 330,666,000 | 279,740,000 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Loans and Leases Receivable, Gross | 785,289,000 | 696,180,000 |
Commercial Real Estate Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 2,530,618,000 | 2,204,992,000 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 664,000 | 1,999,000 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 2,686,000 | 2,334,000 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | ||
Past Due | 3,350,000 | 4,333,000 |
Current | 98,634,000 | 150,200,000 |
Loans and Leases Receivable, Gross | 101,984,000 | 154,533,000 |
90 Days Past Due & Accruing | 912,000 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 53,000 | 114,000 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 52,000 | 396,000 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | ||
Past Due | 105,000 | 510,000 |
Current | 3,480,000 | 10,063,000 |
Loans and Leases Receivable, Gross | 3,585,000 | 10,573,000 |
90 Days Past Due & Accruing | 396,000 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 717,000 | 2,113,000 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 2,738,000 | 2,730,000 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | ||
Past Due | 3,455,000 | 4,843,000 |
Current | 102,114,000 | 160,263,000 |
Loans and Leases Receivable, Gross | 105,569,000 | 165,106,000 |
90 Days Past Due & Accruing | 1,308,000 | |
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Loans and Leases Receivable, Gross | 577,771,000 | 500,116,000 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Loans and Leases Receivable, Gross | 187,047,000 | 148,563,000 |
Commercial Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 764,818,000 | 648,679,000 |
Acquired Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member] | ||
Past Due | 17,017,000 | 26,078,000 |
Acquired Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Past Due | 25,881,000 | 24,961,000 |
Acquired Loans [Member] | ||
Past Due | 42,898,000 | 51,039,000 |
Current | 1,245,537,000 | 1,621,862,000 |
Loans and Leases Receivable, Gross | 1,288,435,000 | 1,672,901,000 |
90 Days Past Due & Accruing | 3,224,000 | |
Loans and Leases Receivable, Gross | $ 5,014,000,000 | $ 4,919,000,000 |
Note 5 - Summary of Acquired Lo
Note 5 - Summary of Acquired Loans, Excluding Loans Covered by Loss Share (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | Other Loans [Member] | ||
Balance, end of period | $ 52,857 | $ 75,330 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | ||
Balance, end of period | 52,857 | 75,330 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | Other Loans [Member] | ||
Balance, end of period | 18 | |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | ||
Balance, end of period | 18 | |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | Other Loans [Member] | ||
Balance, end of period | 197 | 276 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | ||
Balance, end of period | 197 | 276 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | Other Loans [Member] | ||
Balance, end of period | ||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | ||
Balance, end of period | ||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | Other Loans [Member] | ||
Balance, end of period | ||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | ||
Balance, end of period | ||
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Balance, end of period | 53,072 | 75,606 |
Consumer Portfolio Segment [Member] | Acquired Loans [Member] | ||
Balance, end of period | 53,072 | 75,606 |
Consumer Portfolio Segment [Member] | Risk Rate 1-4 [Member] | Other Loans [Member] | ||
Balance, end of period | 246,491 | 207,069 |
Consumer Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Balance, end of period | 417,526 | 383,878 |
Consumer Portfolio Segment [Member] | Risk Rate 5 [Member] | Other Loans [Member] | ||
Balance, end of period | 44 | |
Consumer Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Balance, end of period | 44 | |
Consumer Portfolio Segment [Member] | Risk Rate 6 [Member] | Other Loans [Member] | ||
Balance, end of period | 1,463 | 1,262 |
Consumer Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Balance, end of period | 1,896 | 1,741 |
Consumer Portfolio Segment [Member] | Risk Rate 7 [Member] | Other Loans [Member] | ||
Balance, end of period | 20 | 49 |
Consumer Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Balance, end of period | 20 | 49 |
Consumer Portfolio Segment [Member] | Risk Rate 8 [Member] | Other Loans [Member] | ||
Balance, end of period | ||
Consumer Portfolio Segment [Member] | Risk Rate 8 [Member] | ||
Balance, end of period | ||
Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
Balance, end of period | 248,018 | 208,380 |
Consumer Portfolio Segment [Member] | ||
Balance, end of period | 419,486 | 385,668 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | Other Loans [Member] | ||
Balance, end of period | 642,307 | 812,537 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | Construction Loans [Member] | ||
Balance, end of period | 32,341 | 68,775 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 389,529 | 479,193 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | ||
Balance, end of period | 1,064,177 | 1,360,505 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | Other Loans [Member] | ||
Balance, end of period | 16,202 | 7,328 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | Construction Loans [Member] | ||
Balance, end of period | 69 | |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 1,482 | 1,490 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | ||
Balance, end of period | 17,753 | 8,818 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | Other Loans [Member] | ||
Balance, end of period | 26,615 | 33,748 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | Construction Loans [Member] | ||
Balance, end of period | 6,099 | 8,344 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 13,489 | 18,640 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | ||
Balance, end of period | 46,203 | 60,732 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | Other Loans [Member] | ||
Balance, end of period | ||
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | Construction Loans [Member] | ||
Balance, end of period | ||
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 1,661 | 1,675 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | ||
Balance, end of period | 1,661 | 1,675 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | Other Loans [Member] | ||
Balance, end of period | 455 | |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | Construction Loans [Member] | ||
Balance, end of period | ||
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 4 | |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | ||
Balance, end of period | 459 | |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Other Loans [Member] | ||
Balance, end of period | 685,124 | 854,068 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Construction Loans [Member] | ||
Balance, end of period | 38,509 | 77,119 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 406,161 | 501,002 |
Commercial Real Estate Portfolio Segment [Member] | Acquired Loans [Member] | ||
Balance, end of period | 1,129,794 | 1,432,189 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 1-4 [Member] | Construction Loans [Member] | ||
Balance, end of period | 319,592 | 270,386 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 1-4 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 761,813 | 679,484 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Balance, end of period | 2,432,946 | 2,128,687 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 5 [Member] | Construction Loans [Member] | ||
Balance, end of period | 103 | 319 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 5 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 3,605 | 2,701 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Balance, end of period | 10,835 | 8,424 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 6 [Member] | Construction Loans [Member] | ||
Balance, end of period | 10,955 | 9,019 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 6 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 19,707 | 13,824 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Balance, end of period | 86,657 | 67,104 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 7 [Member] | Construction Loans [Member] | ||
Balance, end of period | 16 | 16 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 7 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 164 | 171 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Balance, end of period | 180 | 777 |
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 8 [Member] | Construction Loans [Member] | ||
Balance, end of period | ||
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 8 [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | ||
Commercial Real Estate Portfolio Segment [Member] | Risk Rate 8 [Member] | ||
Balance, end of period | ||
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Balance, end of period | 330,666 | 279,740 |
Commercial Real Estate Portfolio Segment [Member] | Single Family Residential Loans [Member] | ||
Balance, end of period | 785,289 | 696,180 |
Commercial Real Estate Portfolio Segment [Member] | ||
Balance, end of period | 2,530,618 | 2,204,992 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | Commercial Loans [Member] | ||
Balance, end of period | 91,957 | 144,239 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | 3,270 | 10,310 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 1-4 [Member] | ||
Balance, end of period | 95,227 | 154,549 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | Commercial Loans [Member] | ||
Balance, end of period | 1,698 | 332 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | 51 | |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 5 [Member] | ||
Balance, end of period | 1,749 | 332 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | Commercial Loans [Member] | ||
Balance, end of period | 8,076 | 7,948 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | 264 | 263 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 6 [Member] | ||
Balance, end of period | 8,340 | 8,211 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | Commercial Loans [Member] | ||
Balance, end of period | 253 | 2,014 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | ||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 7 [Member] | ||
Balance, end of period | 253 | 2,014 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | Commercial Loans [Member] | ||
Balance, end of period | ||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | ||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Risk Rate 8 [Member] | ||
Balance, end of period | ||
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Commercial Loans [Member] | ||
Balance, end of period | 101,984 | 154,533 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | Agricultural Loans [Member] | ||
Balance, end of period | 3,585 | 10,573 |
Commercial Portfolio Segment [Member] | Acquired Loans [Member] | ||
Balance, end of period | 105,569 | 165,106 |
Commercial Portfolio Segment [Member] | Risk Rate 1-4 [Member] | Commercial Loans [Member] | ||
Balance, end of period | 558,439 | 487,563 |
Commercial Portfolio Segment [Member] | Risk Rate 1-4 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | 185,028 | 147,788 |
Commercial Portfolio Segment [Member] | Risk Rate 1-4 [Member] | ||
Balance, end of period | 743,467 | 635,351 |
Commercial Portfolio Segment [Member] | Risk Rate 5 [Member] | Commercial Loans [Member] | ||
Balance, end of period | 5,140 | 2,760 |
Commercial Portfolio Segment [Member] | Risk Rate 5 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | 228 | |
Commercial Portfolio Segment [Member] | Risk Rate 5 [Member] | ||
Balance, end of period | 5,368 | 2,760 |
Commercial Portfolio Segment [Member] | Risk Rate 6 [Member] | Commercial Loans [Member] | ||
Balance, end of period | 14,162 | 9,787 |
Commercial Portfolio Segment [Member] | Risk Rate 6 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | 1,791 | 775 |
Commercial Portfolio Segment [Member] | Risk Rate 6 [Member] | ||
Balance, end of period | 15,953 | 10,562 |
Commercial Portfolio Segment [Member] | Risk Rate 7 [Member] | Commercial Loans [Member] | ||
Balance, end of period | 30 | 6 |
Commercial Portfolio Segment [Member] | Risk Rate 7 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | ||
Commercial Portfolio Segment [Member] | Risk Rate 7 [Member] | ||
Balance, end of period | 30 | 6 |
Commercial Portfolio Segment [Member] | Risk Rate 8 [Member] | Commercial Loans [Member] | ||
Balance, end of period | ||
Commercial Portfolio Segment [Member] | Risk Rate 8 [Member] | Agricultural Loans [Member] | ||
Balance, end of period | ||
Commercial Portfolio Segment [Member] | Risk Rate 8 [Member] | ||
Balance, end of period | ||
Commercial Portfolio Segment [Member] | Commercial Loans [Member] | ||
Balance, end of period | 577,771 | 500,116 |
Commercial Portfolio Segment [Member] | Agricultural Loans [Member] | ||
Balance, end of period | 187,047 | 148,563 |
Commercial Portfolio Segment [Member] | ||
Balance, end of period | 764,818 | 648,679 |
Acquired Loans [Member] | Risk Rate 1-4 [Member] | ||
Balance, end of period | 1,212,261 | 1,590,384 |
Acquired Loans [Member] | Risk Rate 5 [Member] | ||
Balance, end of period | 19,520 | 9,150 |
Acquired Loans [Member] | Risk Rate 6 [Member] | ||
Balance, end of period | 54,740 | 69,219 |
Acquired Loans [Member] | Risk Rate 7 [Member] | ||
Balance, end of period | 1,914 | 3,689 |
Acquired Loans [Member] | Risk Rate 8 [Member] | ||
Balance, end of period | 459 | |
Acquired Loans [Member] | ||
Balance, end of period | 1,288,435 | 1,672,901 |
Risk Rate 1-4 [Member] | ||
Balance, end of period | 4,816,700 | 4,745,322 |
Risk Rate 5 [Member] | ||
Balance, end of period | 35,767 | 20,334 |
Risk Rate 6 [Member] | ||
Balance, end of period | 159,246 | 148,719 |
Risk Rate 7 [Member] | ||
Balance, end of period | 2,144 | 4,521 |
Risk Rate 8 [Member] | ||
Balance, end of period | 459 | |
Balance, end of period | $ 5,013,857 | $ 4,919,355 |
Note 5 - Impact of the Adjustme
Note 5 - Impact of the Adjustments on the Company's Financial Results for the Following Reporting Periods (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | ||
Impact on net interest income | $ 80 | $ 3,223 | $ 1,175 | $ 9,325 | |
Non-interest income (1) | [1] | (2,941) | (5,686) | ||
Net impact to pre-tax income | 80 | 282 | 1,175 | 3,639 | |
Net impact, net of taxes | $ 49 | $ 171 | $ 714 | $ 2,212 | |
[1] | Negative non-interest income resulted from the amortization of the FDIC indemnification assets. Because the Companys loss share agreements with the FDIC have been terminated, there will be no further indemnification asset amortization. |
Note 5 - Changes in the Carryin
Note 5 - Changes in the Carrying Amount of the Accretable Yield for All Purchased Impaired and Non-Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Beginning balance | $ 2,034 | $ 17,226 | $ 954 | $ 20,635 |
Beginning balance | 21,259 | 177,691 | 23,469 | 169,098 |
Additions | (116) | |||
Additions | 17,750 | |||
Accretable yield adjustments | 642 | 2,369 | 3,074 | 5,443 |
Accretable yield adjustments | 642 | 2,369 | 3,074 | 5,443 |
Accretion | (311) | (4,547) | (1,663) | (10,914) |
Accretion | 311 | 4,547 | 1,663 | 10,914 |
Payments and other reductions, net | ||||
Payments and other reductions, net | (907) | (22,144) | (4,469) | (37,668) |
Payments and other reductions, net | ||||
Payments and other reductions, net | (907) | (22,144) | (4,469) | (37,668) |
Balance, ending | 2,365 | 15,048 | 2,365 | 15,048 |
Balance, ending | $ 20,663 | $ 160,094 | $ 20,663 | $ 160,094 |
Note 6 - Goodwill and Other I69
Note 6 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2015 | Jun. 30, 2016 | Dec. 31, 2015 | Feb. 27, 2015 | |
Core Deposit Premium [Member] | Community First Bancshares Inc [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 11,300,000 | |||
Core Deposit Premium [Member] | Liberty Bancshares, Inc. [Member] | ||||
Finite-lived Intangible Assets Acquired | 14,600,000 | |||
Core Deposit Premium [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||
Books of Business Intangible [Member] | Community First Bancshares Inc [Member] | ||||
Finite-lived Intangible Assets Acquired | $ 420,000 | |||
Books of Business Intangible [Member] | Minimum [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 10 years | |||
Books of Business Intangible [Member] | Maximum [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 15 years | |||
Community First Bancshares Inc [Member] | ||||
Goodwill | $ 110,440,000 | |||
Liberty Bancshares, Inc. [Member] | ||||
Goodwill | $ 95,207,000 | |||
Goodwill | $ 327,686,000 | $ 327,686,000 |
Note 6 - Goodwill, Core Deposit
Note 6 - Goodwill, Core Deposit Premiums and Purchased Credit Card Relationships (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Core Deposit Premium [Member] | ||
Gross carrying amount | $ 43,617 | $ 43,648 |
Accumulated amortization | (8,349) | (6,217) |
Core deposit premiums, net | 35,268 | 37,431 |
Purchased Credit Card Relationships [Member] | ||
Gross carrying amount | 2,068 | 2,068 |
Accumulated amortization | (1,138) | (931) |
Core deposit premiums, net | 930 | 1,137 |
Books of Business Intangible [Member] | ||
Gross carrying amount | 15,293 | 15,293 |
Accumulated amortization | (1,162) | (624) |
Core deposit premiums, net | 14,131 | 14,669 |
Other Intangible Assets [Member] | ||
Core deposit premiums, net | 50,329 | 53,237 |
Goodwill | 327,686 | 327,686 |
Core deposit premiums, net | 50,329 | |
Total goodwill and other intangible assets | $ 378,015 | $ 380,923 |
Note 6 - Amortization Expense (
Note 6 - Amortization Expense (Details) $ in Thousands | Jun. 30, 2016USD ($) |
Remainder of 2016 | $ 2,907 |
2,017 | 5,815 |
2,018 | 5,711 |
2,019 | 5,401 |
2,020 | 5,389 |
Thereafter | 25,106 |
Total | $ 50,329 |
Note 7 - Time Deposits (Details
Note 7 - Time Deposits (Details Textual) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Time Deposits, $100,000 or More | $ 562,888,000 | $ 625,775,000 |
Time Deposit $250,000 or More | $ 170,616,000 | $ 186,352,000 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2016 | Nov. 25, 2013 | |
Metropolitan [Member] | ||
Operating Loss Carryforwards | $ 37.5 | |
Earliest Tax Year [Member] | Domestic Tax Authority [Member] | ||
Open Tax Year | 2,012 | |
Earliest Tax Year [Member] | State and Local Jurisdiction [Member] | ||
Open Tax Year | 2,009 |
Note 8 - Provision for Income T
Note 8 - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Income taxes currently payable | $ 22,812 | $ 16,204 | ||
Deferred income taxes | 615 | (1,772) | ||
Provision for income taxes | $ 11,809 | $ 10,250 | $ 23,427 | $ 14,432 |
Note 8 - Tax Effects of Tempora
Note 8 - Tax Effects of Temporary Differences Related to Deferred Taxes Included in Other Liabilities: (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Loans acquired | $ 11,644 | $ 14,716 |
Allowance for loan losses | 13,515 | 12,700 |
Valuation of foreclosed assets | 11,183 | 11,212 |
Tax NOLs from acquisition | 14,593 | 14,593 |
Deferred compensation payable | 2,769 | 2,767 |
Vacation compensation | 2,204 | 2,250 |
Accrued equity and other compensation | 5,903 | 5,197 |
Acquired securities | 1,766 | 1,770 |
Other accrued liabilities | 1,938 | 1,943 |
Unrealized loss on available-for-sale securities | 1,655 | |
Other | 3,054 | 3,006 |
Gross deferred tax assets | 68,569 | 71,809 |
Deferred tax liabilities: | ||
Goodwill and other intangible amortization | (29,709) | (30,550) |
Limitations under IRC Sec 382 | (3,481) | (3,478) |
Accumulated depreciation | (3,893) | (3,914) |
Unrealized gain on available-for-sale securities | (2,733) | |
Other | (4,076) | (4,187) |
Gross deferred tax liabilities | (43,892) | (42,129) |
Net deferred tax asset, included in other assets | $ 24,677 | $ 29,680 |
Note 8 - Reconciliation of Inco
Note 8 - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Computed at the statutory rate (35%) | $ 24,444 | $ 15,142 | ||
State income taxes, net of federal tax benefit | 1,369 | 1,432 | ||
Tax exempt interest income | (2,048) | (2,284) | ||
Tax exempt earnings on BOLI | (519) | (364) | ||
Merger related expenses | 569 | |||
Federal tax credits | (53) | (276) | ||
Other differences, net | 234 | 213 | ||
Provision for income taxes | $ 11,809 | $ 10,250 | $ 23,427 | $ 14,432 |
Note 8 - Reconciliation of In77
Note 8 - Reconciliation of Income Tax Expense (Details) (Parentheticals) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Statutory rate | 35.00% | 35.00% |
Note 9 - Securities Sold Unde78
Note 9 - Securities Sold Under Agreements to Repurchase (Details Textual) - USD ($) $ in Millions | Jun. 30, 2016 | Dec. 31, 2015 |
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement | $ 102.5 | $ 96.8 |
Note 9 - Contractual Maturity o
Note 9 - Contractual Maturity of the Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Maturity Overnight [Member] | US Government Agencies Debt Securities [Member] | ||
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement | $ 95,209 | $ 89,512 |
Maturity Less than 30 Days [Member] | US Government Agencies Debt Securities [Member] | ||
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement | ||
Maturity 30 to 90 Days [Member] | US Government Agencies Debt Securities [Member] | ||
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement | ||
Maturity Greater than 90 Days [Member] | US Government Agencies Debt Securities [Member] | ||
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement | 7,329 | 7,326 |
US Government Agencies Debt Securities [Member] | ||
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement | 102,538 | 96,838 |
Financial Assets Sold under Agreements to Repurchase, Gross Including Not Subject to Master Netting Arrangement | $ 102,500 | $ 96,800 |
Note 10 - Other Borrowings an80
Note 10 - Other Borrowings and Subordinated Debentures (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 6 Months Ended |
Oct. 31, 2015 | Jun. 30, 2016 | |
Correspondent Banks [Member] | ||
Debt Instrument, Face Amount | $ 52.3 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.85% | |
Debt Instrument, Term | 10 years | |
Debt Instrument, Periodic Payment Terms, Balloon Payment Term | 5 years | |
Federal Home Loan Bank Advances [Member] | ||
Debt Instrument, Term | 1 year | |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months | $ 90.8 | |
Advances from Federal Home Loan Banks | 141.7 | |
Advances from Federal Home Loan Bank Available | 962.7 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 1,086 |
Note 10 - Long-Term Debt (Detai
Note 10 - Long-Term Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Federal Home Loan Bank Advances [Member] | ||
FHLB advances, net of discount, due 2016 to 2033, 0.83% to 7.37% secured by residential real estate loans | $ 141,691 | $ 109,989 |
Note Payable Due 10/15/2020 [Member] | ||
Notes payable, due 10/15/2020, 3.85%, fixed rate, unsecured | 50,136 | 52,300 |
Trust Preferred Securities Due 12/30/2033 Floating Rate of 2.8% Above Three Month LIBOR 1 [Member] | ||
Subordinated Debentures | 20,620 | 20,620 |
Trust Preferred Securities Due 6/30/2035 [Member] | ||
Subordinated Debentures | 9,175 | 9,723 |
Trust Preferred Securities Due 9/15/2037 [Member] | ||
Subordinated Debentures | 10,052 | 9,975 |
Trust Preferred Securities Due 12/3/2033 [Member] | ||
Subordinated Debentures | 5,164 | 5,167 |
Trust Preferred Securities Due 12/13/2034 [Member] | ||
Subordinated Debentures | 5,084 | 5,063 |
Trust Preferred Securities, Due 6/6/2037 [Member] | ||
Subordinated Debentures | 10,089 | 10,022 |
Total other borrowings | 191,827 | 162,289 |
Subordinated Debentures | 60,184 | 60,570 |
Total other borrowings and subordinated debentures | $ 252,011 | $ 222,859 |
Note 10 - Long-Term Debt (Det82
Note 10 - Long-Term Debt (Details) (Parentheticals) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Federal Home Loan Bank Advances [Member] | Minimum [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.83% | 0.83% |
Federal Home Loan Bank Advances [Member] | Maximum [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 7.37% | 7.37% |
Note Payable Due 10/15/2020 [Member] | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.85% | 3.85% |
Trust Preferred Securities Due 12/30/2033 Floating Rate of 2.8% Above Three Month LIBOR 1 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Floating rate | 2.80% | 2.80% |
Trust Preferred Securities Due 6/30/2035 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Floating rate | 1.75% | 1.75% |
Trust Preferred Securities Due 9/15/2037 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Floating rate | 1.37% | 1.37% |
Trust Preferred Securities Due 12/3/2033 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Floating rate | 2.88% | 2.88% |
Trust Preferred Securities Due 12/13/2034 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Floating rate | 2.00% | 2.00% |
Trust Preferred Securities, Due 6/6/2037 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Floating rate | 1.57% | 1.57% |
Note 10 - Aggregate Annual Matu
Note 10 - Aggregate Annual Maturities of Long-Term Debt (Details) $ in Thousands | Jun. 30, 2016USD ($) |
2,016 | $ 97,276 |
2,017 | 14,016 |
2,018 | 24,682 |
2,019 | 7,765 |
2,020 | 36,435 |
Thereafter | 71,837 |
Total | $ 252,011 |
Note 12 - Common Stock (Details
Note 12 - Common Stock (Details Textual) - USD ($) $ in Billions | Mar. 04, 2014 | Aug. 31, 2013 | Dec. 31, 2012 |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 850,000 | ||
Percent of Outstanding Stock | 5.00% | ||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 154,136 | ||
Shelf Registration Statement Max Capital Allowed to Raise | $ 0.3 |
Note 13 - Undivided Profits (De
Note 13 - Undivided Profits (Details Textual) $ in Millions | 6 Months Ended |
Jun. 30, 2016USD ($) | |
Threshold Percentage of Net Profits Exceeded by Dividends Declared, Any Calendar Year | 75.00% |
Threshold Percentage of Net Profits Exceeded by Dividends Declared, Combined with Preceding Year | 75.00% |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 4.1 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 8.00% |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% |
Common Equity Tier 1 Ratio Required To Be Well Capitalized | 6.50% |
Capital Conservation Buffer Phase In Amount | 0.625% |
Capital Conservation Buffer Phase In Period | 4 years |
Capital Conservation Buffer | 2.50% |
Capital to Risk Weighted Assets | 14.08% |
Note 14 - Stock Based Compens86
Note 14 - Stock Based Compensation (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Allocated Share-based Compensation Expense | $ 2,097,000 | $ 1,077,000 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 1,480,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | 7,715,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years 73 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 1,920,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 1,589,000 | ||
Share Price | $ 46.19 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 741,000 | $ 1,270,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 11.64 | $ 8.81 |
Note 14 - Stock Compensation Pl
Note 14 - Stock Compensation Plans (Details) | 6 Months Ended |
Jun. 30, 2016$ / sharesshares | |
Balance, January 1, 2016 (in shares) | shares | 484,497 |
Balance, January 1, 2016 (in dollars per share) | $ / shares | $ 40.59 |
Balance, January 1, 2016 (in shares) | shares | 183,101 |
Balance, January 1, 2016 (in dollars per share) | $ / shares | $ 35.65 |
Granted (in shares) | shares | 58,090 |
Granted (in dollars per share) | $ / shares | $ 47.02 |
Granted (in shares) | shares | 142,827 |
Granted (in dollars per share) | $ / shares | $ 47.51 |
Stock Options Exercised (in shares) | shares | (45,657) |
Stock Options Exercised (in dollars per share) | $ / shares | $ 29.96 |
Stock Awards Vested (in shares) | shares | (122,753) |
Stock Awards Vested (in dollars per share) | $ / shares | $ 41.39 |
Forfeited/Expired (in shares) | shares | (5,145) |
Forfeited/Expired (in dollars per share) | $ / shares | $ 35.25 |
Forfeited/Expired (in shares) | shares | (30,579) |
Forfeited/Expired (in dollars per share) | $ / shares | $ 33.35 |
Balance, June 30, 2016 (in shares) | shares | 491,785 |
Balance, June 30, 2016 (in dollars per share) | $ / shares | $ 42.39 |
Balance, June 30, 2016 (in shares) | shares | 172,596 |
Balance, June 30, 2016 (in dollars per share) | $ / shares | $ 41.79 |
Exercisable, June 30, 2016 (in shares) | shares | 215,556 |
Exercisable, June 30, 2016 (in dollars per share) | $ / shares | $ 38.83 |
Note 14 - Stock Options Oustand
Note 14 - Stock Options Oustanding by Range of Exercise Prices (Details) | 6 Months Ended |
Jun. 30, 2016$ / sharesshares | |
Range01 [Member] | |
Range of exercise prices, minimum (in dollars per share) | $ 17.55 |
Range of exercise prices, maximum (in dollars per share) | $ 21.29 |
Options outstanding, number of shares (in shares) | shares | 17,350 |
Options outstanding, weighted average remaining contractual life | 4 years 332 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 19.78 |
Options exercisable, number of shares (in shares) | shares | 11,500 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 19.48 |
Range 02 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 21.51 |
Range of exercise prices, maximum (in dollars per share) | $ 21.51 |
Options outstanding, number of shares (in shares) | shares | 2,050 |
Options outstanding, weighted average remaining contractual life | 3 years 200 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 21.51 |
Options exercisable, number of shares (in shares) | shares | 2,050 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 21.51 |
Range 03 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 28.42 |
Range of exercise prices, maximum (in dollars per share) | $ 28.42 |
Options outstanding, number of shares (in shares) | shares | 24,600 |
Options outstanding, weighted average remaining contractual life | 292 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 28.42 |
Options exercisable, number of shares (in shares) | shares | 24,600 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 28.42 |
Range 04 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 30.31 |
Range of exercise prices, maximum (in dollars per share) | $ 30.31 |
Options outstanding, number of shares (in shares) | shares | 28,090 |
Options outstanding, weighted average remaining contractual life | 1 year 288 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 30.31 |
Options exercisable, number of shares (in shares) | shares | 28,090 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 30.31 |
Range 05 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 40.57 |
Range of exercise prices, maximum (in dollars per share) | $ 40.57 |
Options outstanding, number of shares (in shares) | shares | 43,720 |
Options outstanding, weighted average remaining contractual life | 7 years 332 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 40.57 |
Options exercisable, number of shares (in shares) | shares | 43,720 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 40.57 |
Range 06 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 40.72 |
Range of exercise prices, maximum (in dollars per share) | $ 40.72 |
Options outstanding, number of shares (in shares) | shares | 1,500 |
Options outstanding, weighted average remaining contractual life | 8 years 138 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 40.72 |
Options exercisable, number of shares (in shares) | shares | 300 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 40.72 |
Range 07 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 44.40 |
Range of exercise prices, maximum (in dollars per share) | $ 44.40 |
Options outstanding, number of shares (in shares) | shares | 54,825 |
Options outstanding, weighted average remaining contractual life | 8 years 127 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 44.40 |
Options exercisable, number of shares (in shares) | shares | 26,877 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 44.40 |
Range 08 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 45.50 |
Range of exercise prices, maximum (in dollars per share) | $ 45.50 |
Options outstanding, number of shares (in shares) | shares | 258,255 |
Options outstanding, weighted average remaining contractual life | 9 years 40 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 45.50 |
Options exercisable, number of shares (in shares) | shares | 77,161 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 45.50 |
Range 09 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 47.02 |
Range of exercise prices, maximum (in dollars per share) | $ 47.02 |
Options outstanding, number of shares (in shares) | shares | 58,090 |
Options outstanding, weighted average remaining contractual life | 9 years 204 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 47.02 |
Options exercisable, number of shares (in shares) | shares | |
Options exercisable, weighted average exercise price (in dollars per share) | |
Range 10 [Member] | |
Range of exercise prices, minimum (in dollars per share) | 48.13 |
Range of exercise prices, maximum (in dollars per share) | $ 48.13 |
Options outstanding, number of shares (in shares) | shares | 3,305 |
Options outstanding, weighted average remaining contractual life | 9 years 76 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 48.13 |
Options exercisable, number of shares (in shares) | shares | 1,258 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 48.13 |
Range of exercise prices, minimum (in dollars per share) | 17.55 |
Range of exercise prices, maximum (in dollars per share) | $ 48.13 |
Options outstanding, number of shares (in shares) | shares | 491,785 |
Options outstanding, weighted average remaining contractual life | 7 years 350 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 42.39 |
Options exercisable, number of shares (in shares) | shares | 215,556 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 38.83 |
Note 14 - Weighted-Average Fair
Note 14 - Weighted-Average Fair Value Assumptions (Details) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Expected dividend yield | 1.96% | 2.15% |
Expected stock price volatility | 27.34% | 21.08% |
Risk-free interest rate | 2.01% | 2.01% |
Expected life of options (years) | 7 years | 10 years |
Note 15 - Additional Cash Flo90
Note 15 - Additional Cash Flow Information (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Transfers of Loans Not Covered by FDIC Loss Share to Foreclosed Assets Held-for-sale [Member] | ||
Transfers to foreclosed assets | $ 2,970 | $ 7,426 |
Transfers of Loans Acquired Covered by FDIC Loss Share to Foreclosed Assets Covered by FDIC Loss Share [Member] | ||
Transfers to foreclosed assets | 2,288 | |
Transfers of Premises and Equipment to Premises Held for Sale [Member] | ||
Transfers of premises and equipment to premises held for sale | 6,167 | |
Transfers of Premises Held-for-sale to Foreclosed Assets Held-for-sale [Member] | ||
Transfers to foreclosed assets | 923 | 6,126 |
Interest paid | 10,817 | 9,413 |
Income taxes paid | $ 21,610 | $ 13,981 |
Note 16 - Other Operating Exp91
Note 16 - Other Operating Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Professional services | $ 2,911 | $ 2,261 | $ 6,404 | $ 4,135 |
Postage | 1,074 | 1,085 | 2,309 | 2,017 |
Telephone | 1,041 | 1,321 | 2,100 | 2,175 |
Credit card expense | 2,542 | 2,280 | 5,372 | 4,271 |
Operating supplies | 458 | 612 | 817 | 1,092 |
Amortization of intangibles | 1,451 | 996 | 2,908 | 2,287 |
Branch right sizing expense | 3,219 | 2,745 | 3,233 | 2,780 |
Other expense | 6,836 | 6,741 | 12,784 | 11,456 |
Total other operating expenses | $ 19,532 | $ 18,041 | $ 35,927 | $ 30,213 |
Note 18 - Commitments and Cre92
Note 18 - Commitments and Credit Risk (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Standby Letters of Credit [Member] | ||
Deferred Revenue | $ 0 | $ 0 |
Credit Card Commitments to Extend Credit [Member] | ||
Commitments and Contingencies | 639,407,000 | 497,961,000 |
Other Loan Commitments to Extend Credit [Member] | ||
Commitments and Contingencies | $ 926,432,000 | 805,673,000 |
Minimum [Member] | ||
Letters of Credit Term | 270 days | |
Maximum [Member] | ||
Letters of Credit Term | 15 years | |
Letters of Credit Outstanding, Amount | $ 25,961,000 | $ 23,515,000 |
Note 19 - Preferred Stock (Deta
Note 19 - Preferred Stock (Details Textual) - shares | Feb. 19, 2016 | Feb. 27, 2015 | Feb. 18, 2016 |
Community First Bancshares Inc [Member] | Series A Preferred Stock [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 30,852 | ||
Community First Bancshares Inc [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 6,552,915 | ||
Series A Preferred Stock [Member] | |||
Preferred Stock, Dividend Rate, Percentage | 9.00% | 1.00% |
Note 20 - Fair Value Measurem94
Note 20 - Fair Value Measurements (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Special Mention Or Worse [Member] | ||
Collateral Dependent Loans Amount At Which All Loans Are Tested | $ 1,500,000 | |
Foreclosed Assets Not Covered By FDIC Loss Share [Member] | ||
Real Estate Acquired Through Foreclosure | $ 30,500,000 | $ 44,900,000 |
Commercial and Residential Real Estate Collateral [Member] | Minimum [Member] | ||
Fair Value Percentage Of Collateral Discount | 10.00% | |
Commercial and Residential Real Estate Collateral [Member] | Maximum [Member] | ||
Fair Value Percentage Of Collateral Discount | 40.00% | |
Collateral Dependent Loans [Member] | ||
Impaired Financing Receivable, Related Allowance | $ 2,350,000 | 1,136,000 |
Real Estate Acquired Through Foreclosure | 30,529,000 | 44,820,000 |
Impaired Financing Receivable, Related Allowance | $ 3,149,000 | $ 2,831,000 |
Note 20 - Fair Value of Financi
Note 20 - Fair Value of Financial Assets Measure on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total | $ 4,305 | $ 3,994 |
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total | ||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total | ||
US Treasury Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Total | 4,305 | 3,994 |
US Treasury Securities [Member] | ||
Total | 4,305 | 3,994 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total | ||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total | 58,113 | 120,237 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total | ||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Total | 58,113 | 120,237 |
US Government Agencies Debt Securities [Member] | ||
Total | 58,113 | 120,237 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total | 652,425 | 647,426 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total | ||
Mortgage-backed Securities, Issued by Private Enterprises [Member] | Fair Value, Measurements, Recurring [Member] | ||
Total | 652,425 | 647,426 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Total | 652,425 | 647,426 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total | 64,836 | 9,874 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Total | 64,836 | 9,874 |
US States and Political Subdivisions Debt Securities [Member] | ||
Total | 64,836 | 9,874 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Other securities | ||
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Other securities | 41,693 | 39,876 |
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Other securities | ||
Other Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Other securities | 41,693 | 39,876 |
Other Securities [Member] | ||
Total | 41,693 | 39,876 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets held in trading accounts | 2,073 | 2,409 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets held in trading accounts | 5,248 | 2,013 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets held in trading accounts | ||
Fair Value, Measurements, Recurring [Member] | ||
Assets held in trading accounts | 7,321 | 4,422 |
Total | 821,372 | 821,407 |
Assets held in trading accounts | $ 7,321 | $ 4,422 |
Note 20 - Fair Value of Finan96
Note 20 - Fair Value of Financial Assets Measured on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Inputs, Level 1 [Member] | Foreclosed Assets [Member] | |||
Foreclosed assets held for sale (1) | [1] | ||
Fair Value, Inputs, Level 1 [Member] | |||
Impaired loans (1) (2) (collateral dependent) | [1],[2] | ||
Fair Value, Inputs, Level 2 [Member] | Foreclosed Assets [Member] | |||
Foreclosed assets held for sale (1) | [1] | ||
Fair Value, Inputs, Level 2 [Member] | |||
Impaired loans (1) (2) (collateral dependent) | [1],[2] | ||
Fair Value, Inputs, Level 3 [Member] | Foreclosed Assets [Member] | |||
Foreclosed assets held for sale (1) | [1] | 13,329 | 14,459 |
Fair Value, Inputs, Level 3 [Member] | |||
Impaired loans (1) (2) (collateral dependent) | [1],[2] | 13,160 | 19,027 |
Foreclosed Assets [Member] | |||
Foreclosed assets held for sale (1) | [1] | 13,329 | 14,459 |
Impaired loans (1) (2) (collateral dependent) | [1],[2] | $ 13,160 | $ 19,027 |
[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 $2,350,000 and $1,136,000 were related to the impaired collateral dependent loans for which fair value re-measurements took place during the periods ended March 31, 2016 and December 31, 2015, respectively |
Note 20 - Estimated Fair Values
Note 20 - Estimated Fair Values and Related Carrying Amounts of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2016 | Dec. 31, 2015 |
Reported Value Measurement [Member] | Legacy Loans [Member] | ||
Legacy loans (net of allowance) | $ 3,691,899 | $ 3,215,103 |
Reported Value Measurement [Member] | Acquired Loans [Member] | ||
Legacy loans (net of allowance) | 1,288,435 | 1,672,901 |
Reported Value Measurement [Member] | Non-Interest Bearing Transaction Accounts [Member] | ||
Deposits | 1,283,426 | 1,280,234 |
Reported Value Measurement [Member] | Interest Bearing Transaction Accounts and Savings Deposits [Member] | ||
Deposits | 3,538,808 | 3,485,845 |
Reported Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 1,205,969 | 1,320,017 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 250,607 | 252,262 |
Interest bearing balances due from banks - time | 9,781 | 14,107 |
Total | 632,154 | 705,373 |
Mortgage loans held for sale | 30,529 | 30,265 |
Interest receivable | 24,150 | 25,793 |
Federal funds purchased and securities sold under agreements to repurchase | 103,038 | 99,398 |
Other borrowings | 191,827 | 162,289 |
Subordinated debentures | 60,184 | 60,570 |
Interest payable | 1,690 | 1,800 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Legacy Loans [Member] | ||
Legacy loans (net of allowance) | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Acquired Loans [Member] | ||
Legacy loans (net of allowance) | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Non-Interest Bearing Transaction Accounts [Member] | ||
Deposits | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Interest Bearing Transaction Accounts and Savings Deposits [Member] | ||
Deposits | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Time Deposits [Member] | ||
Deposits | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 250,607 | 252,262 |
Interest bearing balances due from banks - time | ||
Total | ||
Mortgage loans held for sale | ||
Interest receivable | ||
Federal funds purchased and securities sold under agreements to repurchase | ||
Other borrowings | ||
Subordinated debentures | ||
Interest payable | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Legacy Loans [Member] | ||
Legacy loans (net of allowance) | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Acquired Loans [Member] | ||
Legacy loans (net of allowance) | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Non-Interest Bearing Transaction Accounts [Member] | ||
Deposits | 1,283,426 | 1,280,234 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Interest Bearing Transaction Accounts and Savings Deposits [Member] | ||
Deposits | 3,538,808 | 3,485,845 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Time Deposits [Member] | ||
Deposits | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | ||
Interest bearing balances due from banks - time | 9,781 | 14,105 |
Total | 647,293 | 713,371 |
Mortgage loans held for sale | ||
Interest receivable | 24,150 | 25,793 |
Federal funds purchased and securities sold under agreements to repurchase | 103,038 | 99,398 |
Other borrowings | 201,124 | 168,254 |
Subordinated debentures | 54,683 | 55,954 |
Interest payable | 1,690 | 1,800 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Legacy Loans [Member] | ||
Legacy loans (net of allowance) | 3,676,447 | 3,204,153 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Acquired Loans [Member] | ||
Legacy loans (net of allowance) | 1,283,042 | 1,667,204 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Non-Interest Bearing Transaction Accounts [Member] | ||
Deposits | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Bearing Transaction Accounts and Savings Deposits [Member] | ||
Deposits | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Time Deposits [Member] | ||
Deposits | 1,204,164 | 1,315,254 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | ||
Interest bearing balances due from banks - time | ||
Total | ||
Mortgage loans held for sale | 30,529 | 30,265 |
Interest receivable | ||
Federal funds purchased and securities sold under agreements to repurchase | ||
Other borrowings | ||
Subordinated debentures | ||
Interest payable | ||
Estimate of Fair Value Measurement [Member] | Legacy Loans [Member] | ||
Legacy loans (net of allowance) | 3,676,447 | 3,204,153 |
Estimate of Fair Value Measurement [Member] | Acquired Loans [Member] | ||
Legacy loans (net of allowance) | 1,283,042 | 1,667,204 |
Estimate of Fair Value Measurement [Member] | Non-Interest Bearing Transaction Accounts [Member] | ||
Deposits | 1,283,426 | 1,280,234 |
Estimate of Fair Value Measurement [Member] | Interest Bearing Transaction Accounts and Savings Deposits [Member] | ||
Deposits | 3,538,808 | 3,485,845 |
Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Deposits | 1,204,164 | 1,315,254 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 250,607 | 252,262 |
Interest bearing balances due from banks - time | 9,781 | 14,105 |
Total | 647,293 | 713,371 |
Mortgage loans held for sale | 30,529 | 30,265 |
Interest receivable | 24,150 | 25,793 |
Federal funds purchased and securities sold under agreements to repurchase | 103,038 | 99,398 |
Other borrowings | 201,124 | 168,254 |
Subordinated debentures | 54,683 | 55,954 |
Interest payable | 1,690 | 1,800 |
Total | $ 647,293 | $ 713,371 |